JEPQ vs. IH2O.L

Last updated Jun 14, 2026

JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and IH2O.L (iShares Global Water UCITS ETF) are both exchange-traded funds - JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index, while IH2O.L is a Water Equities fund tracking the S&P Global Water TR. Both are passively managed. Over the past 3 years, JEPQ returned 19.91%/yr vs 7.92%/yr for IH2O.L. At a 0.38 correlation, their price movements are largely independent. JEPQ charges 0.35%/yr vs 0.65%/yr for IH2O.L.

Performance

JEPQ vs. IH2O.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and iShares Global Water UCITS ETF (IH2O.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

JEPQ is traded in USD, while IH2O.L is traded in GBp. To make them comparable, the IH2O.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, JEPQ achieves a 7.85% return, which is significantly higher than IH2O.L's -1.72% return.

JEPQ

• 1D: 0.62%
• 1M: 1.08%
• YTD: 7.85%
• 6M: 8.80%
• 1Y: 26.60%
• 3Y*: 19.91%
• 5Y*: —
• 10Y*: —

IH2O.L

• 1D: 0.98%
• 1M: 1.10%
• YTD: -1.72%
• 6M: -1.10%
• 1Y: 3.28%
• 3Y*: 7.92%
• 5Y*: 4.12%
• 10Y*: 9.52%

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

JEPQ vs. IH2O.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.85%	15.18%	24.85%	36.28%	-11.16%
IH2O.L iShares Global Water UCITS ETF	-1.72%	18.03%	4.26%	12.99%	-0.66%

Correlation

The correlation between JEPQ and IH2O.L is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.38

JEPQ vs. IH2O.L - Sectors Allocation Comparison

Sectors	JEPQ	IH2O.L
Technology	58.9%	1.3%
Communication Services	13.9%	-
Consumer Cyclical	11.8%	0.5%
Consumer Defensive	6.0%	-
Healthcare	3.9%	-
Industrials	2.8%	44.7%
Utilities	1.1%	45.5%
Basic Materials	0.9%	6.0%
Financial Services	0.3%	-
Energy	0.3%	1.8%
Real Estate	0.2%	0.2%

Return for Risk

JEPQ vs. IH2O.L — Risk / Return Rank

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

JEPQ

JEPQ Risk / Return Rank: 74
JEPQ Sharpe Ratio Rank: 73
JEPQ Sortino Ratio Rank: 69
JEPQ Omega Ratio Rank: 79
JEPQ Calmar Ratio Rank: 66
JEPQ Martin Ratio Rank: 81

IH2O.L

IH2O.L Risk / Return Rank: 14
IH2O.L Sharpe Ratio Rank: 15
IH2O.L Sortino Ratio Rank: 13
IH2O.L Omega Ratio Rank: 14
IH2O.L Calmar Ratio Rank: 14
IH2O.L Martin Ratio Rank: 15

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. IH2O.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and iShares Global Water UCITS ETF (IH2O.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.

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	IH2O.L	Difference
Sharpe ratio: Return per unit of total volatility	2.03	0.18	+1.86
Sortino ratio: Return per unit of downside risk	2.69	0.34	+2.35
Omega ratio: Gain probability vs. loss probability	1.40	1.04	+0.36
Calmar ratio: Return relative to maximum drawdown	2.91	0.22	+2.69
Martin ratio: Return relative to average drawdown	13.84	0.54	+13.30

JEPQ vs. IH2O.L - Sharpe Ratio Comparison

The current JEPQ Sharpe Ratio is 2.03, which is higher than the IH2O.L Sharpe Ratio of 0.18. The chart below compares the historical Sharpe Ratios of JEPQ and IH2O.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.

Drawdowns

JEPQ vs. IH2O.L - Drawdown Comparison

The maximum JEPQ drawdown since its inception was -20.07%, smaller than the maximum IH2O.L drawdown of -77.04%. Use the drawdown chart below to compare losses from any high point for JEPQ and IH2O.L.

Drawdown Indicators

	JEPQ	IH2O.L	Difference
Max Drawdown Largest peak-to-trough decline	-20.07%	-77.04%	+56.97%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	-10.67%	+1.85%
Max Drawdown (3Y) Largest decline over 3 years	-20.07%	-16.25%	-3.82%
Max Drawdown (5Y) Largest decline over 5 years	—	-32.45%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.94%	—
Current Drawdown Current decline from peak	-1.64%	-9.35%	+7.71%
Average Drawdown Average peak-to-trough decline	-3.41%	-30.54%	+27.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	4.41%	-2.56%

Volatility

JEPQ vs. IH2O.L - Volatility Comparison

JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a higher volatility of 4.98% compared to iShares Global Water UCITS ETF (IH2O.L) at 4.03%. This indicates that JEPQ's price experiences larger fluctuations and is considered to be riskier than IH2O.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEPQ	IH2O.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.98%	4.03%	+0.95%
Volatility (6M) Calculated over the trailing 6-month period	10.22%	10.62%	-0.40%
Volatility (1Y) Calculated over the trailing 1-year period	12.61%	13.41%	-0.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.73%	16.48%	+0.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.73%	16.61%	+0.12%

JEPQ vs. IH2O.L - Expense Ratio Comparison

JEPQ has a 0.35% expense ratio, which is lower than IH2O.L's 0.65% expense ratio.

Dividends

JEPQ vs. IH2O.L - Dividend Comparison

JEPQ's dividend yield for the trailing twelve months is around 10.22%, more than IH2O.L's 1.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IH2O.L iShares Global Water UCITS ETF	1.43%	1.35%	1.05%	1.21%	1.11%	1.67%	1.00%	1.43%	1.77%	1.52%	1.62%	1.61%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.22%	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

Can I hold both JEPQ and IH2O.L in my portfolio?

JEPQ and IH2O.L have a correlation of 0.31, 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 IH2O.L?

On fees, JEPQ is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JEPQ or IH2O.L?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.65% for IH2O.L.

What is the main difference between JEPQ and IH2O.L?

JEPQ is categorized as Nasdaq-100, while IH2O.L is Water Equities. JEPQ tracks Nasdaq-100 Index, while IH2O.L tracks S&P Global Water TR. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.35% for JEPQ and 0.65% for IH2O.L.