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JEPQ vs. HDV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JEPQ vs. HDV

Last updated Jul 26, 2026
Documentation

JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and HDV (iShares Core High Dividend ETF) are both exchange-traded funds - JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index, while HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index. Both are passively managed. Over the past 3 years, JEPQ returned 17.64%/yr vs 15.34%/yr for HDV. Their 0.29 correlation means their historical movements had little consistent relationship. JEPQ charges 0.35%/yr vs 0.08%/yr for HDV.

Performance

JEPQ vs. HDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and iShares Core High Dividend ETF (HDV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, JEPQ achieves a 5.52% return, which is significantly lower than HDV's 20.12% 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%

HDV

1D
1.23%
1M
4.76%
6M
13.60%
YTD
20.12%
1Y
24.04%
3Y*
15.34%
5Y*
12.15%
10Y*
9.50%
ALL TIME*
10.85%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

HDV

iShares Core High Dividend ETF
$163.75M$142.23M$95.79M

JEPQ

JPMorgan Nasdaq Equity Premium Income ETF
$411.15M$392.07M$419.06M

JEPQ vs. HDV - Yearly Performance Comparison

2026 (YTD)2025202420232022
JEPQ
JPMorgan Nasdaq Equity Premium Income ETF		5.52%15.18%24.85%36.28%-11.16%
HDV
iShares Core High Dividend ETF		20.12%11.90%14.16%1.72%2.51%

Correlation

The correlation between JEPQ and HDV is -0.14, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

-0.14

Correlation (3Y)
Balances recent behavior with more history.

0.09

Correlation (All Time)
Calculated using the full available price history since May 4, 2022

0.29

The correlation between JEPQ and HDV shifts across timeframes, from -0.14 (1 year) to 0.29 (all time), reflecting how their relationship changes across market environments.

JEPQ vs. HDV - Sectors Allocation Comparison

Sectors
JEPQ
HDV

Technology

60.6%
0.9%

Communication Services

12.8%
5.2%

Consumer Cyclical

11.1%
9.3%

Consumer Defensive

5.8%
24.3%

Healthcare

4.0%
23.9%

Industrials

3.0%
2.8%

Utilities

1.0%
8.2%

Basic Materials

0.9%
0.8%

Financial Services

0.3%
4.7%

Energy

0.3%
19.8%

Real Estate

0.2%

-

Technology

JEPQ
60.6%
HDV
0.9%

Communication Services

JEPQ
12.8%
HDV
5.2%

Consumer Cyclical

JEPQ
11.1%
HDV
9.3%

Consumer Defensive

JEPQ
5.8%
HDV
24.3%

Healthcare

JEPQ
4.0%
HDV
23.9%

Industrials

JEPQ
3.0%
HDV
2.8%

Utilities

JEPQ
1.0%
HDV
8.2%

Basic Materials

JEPQ
0.9%
HDV
0.8%

Financial Services

JEPQ
0.3%
HDV
4.7%

Energy

JEPQ
0.3%
HDV
19.8%

Real Estate

JEPQ
0.2%
HDV

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

JPMorgan Nasdaq Equity Premium Income ETF

iShares Core High Dividend ETF

Often compared with JEPQ:
JEPQ vs. JEPIJEPQ vs. QQQIJEPQ vs. QQQJEPQ vs. SCHDJEPQ vs. QYLDJEPQ vs. GPIQJEPQ vs. SPYI
Often compared with HDV:
HDV vs. SCHDHDV vs. VYMHDV vs. SPYDHDV vs. DGROHDV vs. DVYHDV vs. VIGHDV vs. SPY

Return for Risk

JEPQ vs. HDV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
JEPQ
JEPQ Risk / Return Rank: 5656
Overall Rank
JEPQ Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
JEPQ Sortino Ratio Rank: 4848
Sortino Ratio Rank
JEPQ Omega Ratio Rank: 5353
Omega Ratio Rank
JEPQ Calmar Ratio Rank: 5757
Calmar Ratio Rank
JEPQ Martin Ratio Rank: 7070
Martin Ratio Rank
HDV
HDV Risk / Return Rank: 9090
Overall Rank
HDV Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
HDV Sortino Ratio Rank: 9393
Sortino Ratio Rank
HDV Omega Ratio Rank: 8888
Omega Ratio Rank
HDV Calmar Ratio Rank: 9393
Calmar Ratio Rank
HDV Martin Ratio Rank: 8787
Martin Ratio Rank
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. HDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and iShares Core High Dividend ETF (HDV). 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.

JEPQHDVDifference
Sharpe ratioReturn per unit of total volatility
1.23
2.24

-1.01

Sortino ratioReturn per unit of downside risk
1.72
3.39

-1.67

Omega ratioGain probability vs. loss probability

1.23

1.39

-0.16

Calmar ratioReturn relative to maximum drawdown

1.97

4.65

-2.68

Martin ratioReturn relative to average drawdown

8.72

12.72

-3.99

JEPQ vs. HDV - Sharpe Ratio Comparison

The current JEPQ Sharpe Ratio is 1.23, which is lower than the HDV Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of JEPQ and HDV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

JEPQ vs. HDV - Drawdown Comparison

The maximum JEPQ drawdown since its inception was -20.07%, smaller than the maximum HDV drawdown of -37.04%. Use the drawdown chart below to compare losses from any high point for JEPQ and HDV.

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Drawdown Indicators

JEPQHDVDifference

Max Drawdown

Largest peak-to-trough decline

-20.07%

-37.04%

+16.97%

Max Drawdown (1Y)

Largest decline over 1 year

-8.82%

-5.18%

-3.64%

Max Drawdown (3Y)

Largest decline over 3 years

-20.07%

-10.49%

-9.58%

Max Drawdown (5Y)

Largest decline over 5 years

—

-15.42%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-37.04%

—

Current Drawdown

Current decline from peak

-4.71%

0.00%

-4.71%

Average Drawdown

Average peak-to-trough decline

-3.37%

-3.07%

-0.30%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.99%

1.89%

+0.10%

Volatility

JEPQ vs. HDV - Volatility Comparison

JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a higher volatility of 5.63% compared to iShares Core High Dividend ETF (HDV) at 4.88%. This indicates that JEPQ's price experiences larger fluctuations and is considered to be riskier than HDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

JEPQHDVDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.63%

4.88%

+0.75%

Volatility (6M)

Calculated over the trailing 6-month period

11.56%

8.55%

+3.01%

Volatility (1Y)

Calculated over the trailing 1-year period

14.13%

10.74%

+3.39%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.84%

12.93%

+3.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.84%

15.77%

+1.07%

JEPQ vs. HDV - Expense Ratio Comparison

JEPQ has a 0.35% expense ratio, which is higher than HDV's 0.08% expense ratio.

Dividends

JEPQ vs. HDV - Dividend Comparison

JEPQ's dividend yield for the trailing twelve months is around 10.80%, more than HDV's 3.07% yield.

PositionTTM20252024202320222021202020192018201720162015
HDV
iShares Core High Dividend ETF		3.07%3.22%3.67%3.82%3.56%3.47%4.07%3.27%3.67%3.27%3.28%3.92%
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%0.00%

Frequently Asked Questions

JEPQ and HDV have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

JEPQ has higher volatility (5.63%) compared to HDV (4.88%). In terms of maximum drawdown, JEPQ dropped -20.07% vs HDV's -37.04%.

On 3-year performance, JEPQ leads with 17.64% vs 15.34% for HDV. On fees, HDV is cheaper at 0.08% per year. On volatility, HDV has been the lower-risk option at 4.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, JEPQ has performed better with a 17.64% return vs 15.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

HDV is cheaper with a 0.08% expense ratio, compared with 0.35% for JEPQ.

JEPQ has the higher dividend yield at 10.80%, compared with 3.07% for HDV.

JEPQ is categorized as Nasdaq-100, while HDV is Dividend. JEPQ tracks Nasdaq-100 Index, while HDV tracks Morningstar Dividend Yield Focus Index. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.35% for JEPQ and 0.08% for HDV.

HDV currently has the higher Sharpe Ratio (2.24 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.

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