JEPQ vs. FUSD.L

Last updated Jun 9, 2026

JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and FUSD.L (Fidelity US Quality Income ETF Inc) are both exchange-traded funds - JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index, while FUSD.L is a Large Cap Blend Equities fund tracking the Fidelity US Quality Income Index NR. Both are passively managed. Over the past 3 years, JEPQ returned 20.04%/yr vs 16.50%/yr for FUSD.L. A 0.50 correlation means they provide meaningful diversification when combined. JEPQ charges 0.35%/yr vs 0.25%/yr for FUSD.L.

Performance

JEPQ vs. FUSD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and Fidelity US Quality Income ETF Inc (FUSD.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JEPQ achieves a 7.44% return, which is significantly higher than FUSD.L's 6.93% return.

JEPQ

• 1D: 1.24%
• 1M: 0.97%
• YTD: 7.44%
• 6M: 7.26%
• 1Y: 25.85%
• 3Y*: 20.04%
• 5Y*: —
• 10Y*: —

FUSD.L

• 1D: -0.53%
• 1M: 1.30%
• YTD: 6.93%
• 6M: 7.62%
• 1Y: 22.06%
• 3Y*: 16.50%
• 5Y*: 10.38%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

JEPQ vs. FUSD.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.44%	15.18%	24.85%	36.28%	-11.16%
FUSD.L Fidelity US Quality Income ETF Inc	6.93%	16.47%	15.86%	17.14%	-4.71%

Correlation

The correlation between JEPQ and FUSD.L is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.50

The correlation between JEPQ and FUSD.L shifts across timeframes, from 0.47 (3 years) to 0.59 (1 year), reflecting how their relationship changes across market environments.

JEPQ vs. FUSD.L - Sectors Allocation Comparison

Sectors	JEPQ	FUSD.L
Technology	54.0%	35.0%
Communication Services	15.4%	10.6%
Consumer Cyclical	12.8%	9.3%
Consumer Defensive	7.1%	4.5%
Healthcare	4.4%	9.1%
Industrials	3.1%	8.8%
Utilities	1.3%	2.3%
Basic Materials	1.0%	2.2%
Energy	0.4%	3.5%
Financial Services	0.4%	12.6%
Real Estate	0.2%	2.1%

Return for Risk

JEPQ vs. FUSD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JEPQ

JEPQ Risk / Return Rank: 73
JEPQ Sharpe Ratio Rank: 73
JEPQ Sortino Ratio Rank: 68
JEPQ Omega Ratio Rank: 79
JEPQ Calmar Ratio Rank: 65
JEPQ Martin Ratio Rank: 80

FUSD.L

FUSD.L Risk / Return Rank: 72
FUSD.L Sharpe Ratio Rank: 73
FUSD.L Sortino Ratio Rank: 83
FUSD.L Omega Ratio Rank: 73
FUSD.L Calmar Ratio Rank: 61
FUSD.L Martin Ratio Rank: 72

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JEPQ vs. FUSD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and Fidelity US Quality Income ETF Inc (FUSD.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	JEPQ	FUSD.L	Difference
Sharpe ratio: Return per unit of total volatility	2.13	2.13	+0.01
Sortino ratio: Return per unit of downside risk	2.79	3.31	-0.52
Omega ratio: Gain probability vs. loss probability	1.42	1.38	+0.04
Calmar ratio: Return relative to maximum drawdown	2.95	2.77	+0.18
Martin ratio: Return relative to average drawdown	14.33	12.12	+2.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JEPQ vs. FUSD.L - Sharpe Ratio Comparison

The current JEPQ Sharpe Ratio is 2.13, which is comparable to the FUSD.L Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of JEPQ and FUSD.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JEPQ	FUSD.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	2.13	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.71	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	0.76	+0.21

Drawdowns

JEPQ vs. FUSD.L - Drawdown Comparison

The maximum JEPQ drawdown since its inception was -20.07%, smaller than the maximum FUSD.L drawdown of -35.98%. Use the drawdown chart below to compare losses from any high point for JEPQ and FUSD.L.

Drawdown Indicators

	JEPQ	FUSD.L	Difference
Max Drawdown Largest peak-to-trough decline	-20.07%	-35.98%	+15.91%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	-7.94%	-0.88%
Max Drawdown (3Y) Largest decline over 3 years	-20.07%	-17.60%	-2.47%
Max Drawdown (5Y) Largest decline over 5 years	—	-20.25%	—
Current Drawdown Current decline from peak	-2.02%	-1.20%	-0.82%
Average Drawdown Average peak-to-trough decline	-3.42%	-4.19%	+0.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.81%	1.82%	-0.01%

Volatility

JEPQ vs. FUSD.L - Volatility Comparison

JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a higher volatility of 3.65% compared to Fidelity US Quality Income ETF Inc (FUSD.L) at 2.71%. This indicates that JEPQ's price experiences larger fluctuations and is considered to be riskier than FUSD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEPQ	FUSD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.65%	2.71%	+0.94%
Volatility (6M) Calculated over the trailing 6-month period	9.66%	7.74%	+1.92%
Volatility (1Y) Calculated over the trailing 1-year period	12.19%	10.35%	+1.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.67%	14.69%	+1.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.67%	15.80%	+0.87%

JEPQ vs. FUSD.L - Expense Ratio Comparison

JEPQ has a 0.35% expense ratio, which is higher than FUSD.L's 0.25% expense ratio.

Dividends

JEPQ vs. FUSD.L - Dividend Comparison

JEPQ's dividend yield for the trailing twelve months is around 10.26%, more than FUSD.L's 1.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
FUSD.L Fidelity US Quality Income ETF Inc	1.44%	1.47%	0.47%	1.04%	0.56%	0.94%	1.26%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.26%	10.53%	9.65%	10.03%	9.44%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JEPQ and FUSD.L in my portfolio?

JEPQ and FUSD.L have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JEPQ or FUSD.L?

On fees, FUSD.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JEPQ or FUSD.L?

FUSD.L is cheaper with a 0.25% expense ratio, compared with 0.35% for JEPQ.

What is the main difference between JEPQ and FUSD.L?

JEPQ is categorized as Nasdaq-100, while FUSD.L is Large Cap Blend Equities. JEPQ tracks Nasdaq-100 Index, while FUSD.L tracks Fidelity US Quality Income Index NR. They also come from different issuers: JPMorgan and Fidelity. Their fees differ too: 0.35% for JEPQ and 0.25% for FUSD.L.