JEPQ vs. GPIQ

Last updated Jun 18, 2026

JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) are both Nasdaq-100 funds. JEPQ is passively managed, while GPIQ is actively managed. Over the past year, JEPQ returned 27.22% vs 34.32% for GPIQ. With a 0.97 correlation, they move nearly in lockstep. JEPQ charges 0.35%/yr vs 0.29%/yr for GPIQ.

Performance

JEPQ vs. GPIQ - 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 Nasdaq-100 Core Premium Income ETF (GPIQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JEPQ achieves a 8.77% return, which is significantly lower than GPIQ's 16.05% return.

JEPQ

• 1D: -0.67%
• 1M: 2.05%
• YTD: 8.77%
• 6M: 11.72%
• 1Y: 27.22%
• 3Y*: 20.19%
• 5Y*: —
• 10Y*: —

GPIQ

• 1D: -0.77%
• 1M: 2.54%
• YTD: 16.05%
• 6M: 18.84%
• 1Y: 34.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JEPQ vs. GPIQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	8.77%	15.18%	24.85%	11.54%
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	16.05%	19.77%	23.22%	15.17%

Correlation

The correlation between JEPQ and GPIQ is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023	0.97

The correlation between JEPQ and GPIQ has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

JEPQ vs. GPIQ - Sectors Allocation Comparison

Sectors	JEPQ	GPIQ
Technology	58.9%	58.7%
Communication Services	13.9%	14.1%
Consumer Cyclical	11.8%	11.6%
Consumer Defensive	6.0%	6.4%
Healthcare	3.9%	3.6%
Industrials	2.8%	2.6%
Utilities	1.1%	1.3%
Basic Materials	0.9%	1.0%
Financial Services	0.3%	0.2%
Energy	0.3%	0.5%
Real Estate	0.2%	0.1%

Return for Risk

JEPQ vs. GPIQ — 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: 72
JEPQ Sortino Ratio Rank: 67
JEPQ Omega Ratio Rank: 78
JEPQ Calmar Ratio Rank: 66
JEPQ Martin Ratio Rank: 81

GPIQ

GPIQ Risk / Return Rank: 78
GPIQ Sharpe Ratio Rank: 80
GPIQ Sortino Ratio Rank: 75
GPIQ Omega Ratio Rank: 79
GPIQ Calmar Ratio Rank: 76
GPIQ Martin Ratio Rank: 83

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. GPIQ - 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 Nasdaq-100 Core Premium Income ETF (GPIQ). 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	GPIQ	Difference
Sharpe ratio: Return per unit of total volatility	2.15	2.34	-0.19
Sortino ratio: Return per unit of downside risk	2.85	3.08	-0.22
Omega ratio: Gain probability vs. loss probability	1.43	1.43	0.00
Calmar ratio: Return relative to maximum drawdown	3.10	3.62	-0.52
Martin ratio: Return relative to average drawdown	14.75	15.36	-0.61

JEPQ vs. GPIQ - Sharpe Ratio Comparison

The current JEPQ Sharpe Ratio is 2.15, which is comparable to the GPIQ Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of JEPQ and GPIQ, 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. GPIQ - Drawdown Comparison

The maximum JEPQ drawdown since its inception was -20.07%, roughly equal to the maximum GPIQ drawdown of -21.06%. Use the drawdown chart below to compare losses from any high point for JEPQ and GPIQ.

Drawdown Indicators

	JEPQ	GPIQ	Difference
Max Drawdown Largest peak-to-trough decline	-20.07%	-21.06%	+0.99%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	-9.51%	+0.69%
Max Drawdown (3Y) Largest decline over 3 years	-20.07%	—	—
Current Drawdown Current decline from peak	-1.32%	-2.20%	+0.88%
Average Drawdown Average peak-to-trough decline	-3.40%	-2.27%	-1.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	2.24%	-0.39%

Volatility

JEPQ vs. GPIQ - Volatility Comparison

The current volatility for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) is 5.51%, while Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) has a volatility of 6.96%. This indicates that JEPQ experiences smaller price fluctuations and is considered to be less risky than GPIQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEPQ	GPIQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.51%	6.96%	-1.45%
Volatility (6M) Calculated over the trailing 6-month period	10.38%	12.17%	-1.79%
Volatility (1Y) Calculated over the trailing 1-year period	12.76%	14.76%	-2.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.75%	17.78%	-1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.75%	17.78%	-1.03%

JEPQ vs. GPIQ - Expense Ratio Comparison

JEPQ has a 0.35% expense ratio, which is higher than GPIQ's 0.29% expense ratio.

Dividends

JEPQ vs. GPIQ - Dividend Comparison

JEPQ's dividend yield for the trailing twelve months is around 10.14%, more than GPIQ's 9.50% yield.

Position	TTM	2025	2024	2023	2022
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	9.50%	9.81%	9.18%	1.74%	0.00%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.14%	10.53%	9.65%	10.03%	9.44%

Frequently Asked Questions

Can I hold both JEPQ and GPIQ in my portfolio?

With a correlation of 0.96, JEPQ and GPIQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, JEPQ or GPIQ?

GPIQ has higher volatility (6.96%) compared to JEPQ (5.51%). In terms of maximum drawdown, JEPQ dropped -20.07% vs GPIQ's -21.06%.

Which ETF is better, JEPQ or GPIQ?

On 1-year performance, GPIQ leads with 34.32% vs 27.22% for JEPQ. On fees, GPIQ is cheaper at 0.29% per year. On volatility, JEPQ has been the lower-risk option at 5.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JEPQ or GPIQ?

Over the 1-year period, GPIQ has performed better with a 34.32% return vs 27.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEPQ or GPIQ?

GPIQ is cheaper with a 0.29% expense ratio, compared with 0.35% for JEPQ.

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

JEPQ has the higher dividend yield at 10.14%, compared with 9.50% for GPIQ.

What is the main difference between JEPQ and GPIQ?

They also come from different issuers: JPMorgan and Goldman Sachs. Their fees differ too: 0.35% for JEPQ and 0.29% for GPIQ.

Which has better risk-adjusted returns?

GPIQ currently has the higher Sharpe Ratio (2.34 vs 2.15), 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.