JEPQ vs. GBIL

Last updated Jul 26, 2026

JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and GBIL (Goldman Sachs Access Treasury 0-1 Year ETF) are both exchange-traded funds - JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index, while GBIL is a Government Bonds fund tracking the FTSE US Treasury 0-1 Year Composite Select Index. Both are passively managed. Over the past 3 years, JEPQ returned 17.64%/yr vs 4.57%/yr for GBIL. Their 0.02 correlation means their historical movements had little consistent relationship. JEPQ charges 0.35%/yr vs 0.12%/yr for GBIL.

Performance

JEPQ vs. GBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and Goldman Sachs Access Treasury 0-1 Year ETF (GBIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JEPQ achieves a 5.52% return, which is significantly higher than GBIL's 1.90% return.

JEPQ

• 1D: -0.97%
• 1M: -2.60%
• 6M: 3.56%
• YTD: 5.52%
• 1Y: 17.19%
• 3Y*: 17.64%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.50%

GBIL

• 1D: 0.03%
• 1M: 0.29%
• 6M: 1.70%
• YTD: 1.90%
• 1Y: 3.77%
• 3Y*: 4.57%
• 5Y*: 3.42%
• 10Y*: —
• ALL TIME*: 2.30%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GBIL Goldman Sachs Access Treasury 0-1 Year ETF	$51.18M	$55.98M	$72.80M
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	$411.15M	$392.07M	$419.06M

JEPQ vs. GBIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	5.52%	15.18%	24.85%	36.28%	-11.16%
GBIL Goldman Sachs Access Treasury 0-1 Year ETF	1.90%	4.12%	5.24%	4.91%	1.17%

Correlation

The correlation between JEPQ and GBIL is -0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.01
Correlation (3Y) Balances recent behavior with more history.	0.00
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.02

Return for Risk

JEPQ vs. GBIL — Risk / Return Rank

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

JEPQ

JEPQ Risk / Return Rank: 56
JEPQ Sharpe Ratio Rank: 51
JEPQ Sortino Ratio Rank: 48
JEPQ Omega Ratio Rank: 53
JEPQ Calmar Ratio Rank: 57
JEPQ Martin Ratio Rank: 70

GBIL

GBIL Risk / Return Rank: 100
GBIL Sharpe Ratio Rank: 100
GBIL Sortino Ratio Rank: 100
GBIL Omega Ratio Rank: 100
GBIL Calmar Ratio Rank: 100
GBIL Martin Ratio Rank: 100

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. GBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and Goldman Sachs Access Treasury 0-1 Year ETF (GBIL). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	JEPQ	GBIL	Difference
Sharpe ratio: Return per unit of total volatility	1.23	17.10	-15.87
Sortino ratio: Return per unit of downside risk	1.72	141.91	-140.20
Omega ratio: Gain probability vs. loss probability	1.23	75.95	-74.71
Calmar ratio: Return relative to maximum drawdown	1.97	191.66	-189.69
Martin ratio: Return relative to average drawdown	8.72	2,147.30	-2,138.57

JEPQ vs. GBIL - Sharpe Ratio Comparison

The current JEPQ Sharpe Ratio is 1.23, which is lower than the GBIL Sharpe Ratio of 17.10. The chart below compares the historical Sharpe Ratios of JEPQ and GBIL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JEPQ vs. GBIL - Drawdown Comparison

The maximum JEPQ drawdown since its inception was -20.07%, which is greater than GBIL's maximum drawdown of -0.76%. Use the drawdown chart below to compare losses from any high point for JEPQ and GBIL.

Drawdown Indicators

	JEPQ	GBIL	Difference
Max Drawdown Largest peak-to-trough decline	-20.07%	-0.76%	-19.31%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	-0.02%	-8.80%
Max Drawdown (3Y) Largest decline over 3 years	-20.07%	-0.76%	-19.31%
Max Drawdown (5Y) Largest decline over 5 years	—	-0.76%	—
Current Drawdown Current decline from peak	-4.71%	0.00%	-4.71%
Average Drawdown Average peak-to-trough decline	-3.37%	-0.04%	-3.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	0.00%	+1.99%

Volatility

JEPQ vs. GBIL - Volatility Comparison

JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a higher volatility of 5.63% compared to Goldman Sachs Access Treasury 0-1 Year ETF (GBIL) at 0.06%. This indicates that JEPQ's price experiences larger fluctuations and is considered to be riskier than GBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEPQ	GBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.63%	0.06%	+5.57%
Volatility (6M) Calculated over the trailing 6-month period	11.56%	0.14%	+11.42%
Volatility (1Y) Calculated over the trailing 1-year period	14.13%	0.23%	+13.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.84%	0.58%	+16.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.84%	0.47%	+16.37%

JEPQ vs. GBIL - Expense Ratio Comparison

JEPQ has a 0.35% expense ratio, which is higher than GBIL's 0.12% expense ratio.

Dividends

JEPQ vs. GBIL - Dividend Comparison

JEPQ's dividend yield for the trailing twelve months is around 10.80%, more than GBIL's 3.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
GBIL Goldman Sachs Access Treasury 0-1 Year ETF	3.71%	4.02%	4.93%	4.77%	1.37%	0.00%	0.81%	2.20%	1.70%	0.74%	0.11%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.80%	10.53%	9.65%	10.03%	9.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JEPQ and GBIL in my portfolio?

JEPQ and GBIL have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JEPQ or GBIL?

JEPQ has higher volatility (5.63%) compared to GBIL (0.06%). In terms of maximum drawdown, JEPQ dropped -20.07% vs GBIL's -0.76%.

Which ETF is better, JEPQ or GBIL?

On 3-year performance, JEPQ leads with 17.64% vs 4.57% for GBIL. On fees, GBIL is cheaper at 0.12% per year. On volatility, GBIL has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JEPQ or GBIL?

Over the 3-year period, JEPQ has performed better with a 17.64% return vs 4.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEPQ or GBIL?

GBIL is cheaper with a 0.12% expense ratio, compared with 0.35% for JEPQ.

Which ETF pays a higher dividend yield, JEPQ or GBIL?

JEPQ has the higher dividend yield at 10.80%, compared with 3.71% for GBIL.

What is the main difference between JEPQ and GBIL?

JEPQ is categorized as Nasdaq-100, while GBIL is Government Bonds. JEPQ tracks Nasdaq-100 Index, while GBIL tracks FTSE US Treasury 0-1 Year Composite Select Index. They also come from different issuers: JPMorgan and Goldman Sachs. Their fees differ too: 0.35% for JEPQ and 0.12% for GBIL.

Which has better risk-adjusted returns?

GBIL currently has the higher Sharpe Ratio (17.10 vs 1.23), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.