JEPQ vs. IQQQ

Last updated Jun 9, 2026

JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and IQQQ (ProShares Nasdaq-100 High Income ETF) are both Nasdaq-100 funds - JEPQ tracks the Nasdaq-100 Index while IQQQ tracks the Nasdaq-100 Daily Covered Call Index. Both are passively managed. Over the past year, JEPQ returned 25.85% vs 32.80% for IQQQ. With a 0.96 correlation, they move nearly in lockstep. JEPQ charges 0.35%/yr vs 0.55%/yr for IQQQ.

Performance

JEPQ vs. IQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and ProShares Nasdaq-100 High Income ETF (IQQQ). 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 lower than IQQQ's 14.23% return.

JEPQ

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

IQQQ

• 1D: 1.38%
• 1M: 0.79%
• YTD: 14.23%
• 6M: 12.90%
• 1Y: 32.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JEPQ vs. IQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.44%	15.18%	14.00%
IQQQ ProShares Nasdaq-100 High Income ETF	14.23%	17.11%	13.39%

Correlation

The correlation between JEPQ and IQQQ is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (All Time) Calculated using the full available price history since Mar 21, 2024	0.96

The correlation between JEPQ and IQQQ has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

JEPQ vs. IQQQ - Sectors Allocation Comparison

Sectors	JEPQ	IQQQ
Technology	54.0%	53.8%
Communication Services	15.4%	15.8%
Consumer Cyclical	12.8%	12.3%
Consumer Defensive	7.1%	7.7%
Healthcare	4.4%	4.2%
Industrials	3.1%	2.8%
Utilities	1.3%	1.4%
Basic Materials	1.0%	1.1%
Energy	0.4%	0.6%
Financial Services	0.4%	0.2%
Real Estate	0.2%	0.1%

Return for Risk

JEPQ vs. IQQQ — 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

IQQQ

IQQQ Risk / Return Rank: 65
IQQQ Sharpe Ratio Rank: 69
IQQQ Sortino Ratio Rank: 63
IQQQ Omega Ratio Rank: 65
IQQQ Calmar Ratio Rank: 65
IQQQ Martin Ratio Rank: 63

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. IQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and ProShares Nasdaq-100 High Income ETF (IQQQ). 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	IQQQ	Difference
Sharpe ratio: Return per unit of total volatility	2.13	2.04	+0.09
Sortino ratio: Return per unit of downside risk	2.79	2.61	+0.18
Omega ratio: Gain probability vs. loss probability	1.42	1.35	+0.07
Calmar ratio: Return relative to maximum drawdown	2.95	2.96	-0.02
Martin ratio: Return relative to average drawdown	14.33	10.42	+3.92
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. IQQQ - Sharpe Ratio Comparison

The current JEPQ Sharpe Ratio is 2.13, which is comparable to the IQQQ Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of JEPQ and IQQQ, 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	IQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	2.04	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	1.11	-0.14

Drawdowns

JEPQ vs. IQQQ - Drawdown Comparison

The maximum JEPQ drawdown since its inception was -20.07%, roughly equal to the maximum IQQQ drawdown of -20.41%. Use the drawdown chart below to compare losses from any high point for JEPQ and IQQQ.

Drawdown Indicators

	JEPQ	IQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-20.07%	-20.41%	+0.34%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	-11.13%	+2.31%
Max Drawdown (3Y) Largest decline over 3 years	-20.07%	—	—
Current Drawdown Current decline from peak	-2.02%	-4.08%	+2.06%
Average Drawdown Average peak-to-trough decline	-3.42%	-3.64%	+0.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.81%	3.16%	-1.35%

Volatility

JEPQ vs. IQQQ - Volatility Comparison

The current volatility for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) is 3.65%, while ProShares Nasdaq-100 High Income ETF (IQQQ) has a volatility of 6.44%. This indicates that JEPQ experiences smaller price fluctuations and is considered to be less risky than IQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEPQ	IQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.65%	6.44%	-2.79%
Volatility (6M) Calculated over the trailing 6-month period	9.66%	12.61%	-2.95%
Volatility (1Y) Calculated over the trailing 1-year period	12.19%	16.18%	-3.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.67%	18.82%	-2.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.67%	18.82%	-2.15%

JEPQ vs. IQQQ - Expense Ratio Comparison

JEPQ has a 0.35% expense ratio, which is lower than IQQQ's 0.55% expense ratio.

Dividends

JEPQ vs. IQQQ - Dividend Comparison

JEPQ's dividend yield for the trailing twelve months is around 10.26%, more than IQQQ's 4.59% yield.

Position	TTM	2025	2024	2023	2022
IQQQ ProShares Nasdaq-100 High Income ETF	4.59%	10.34%	7.27%	0.00%	0.00%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.26%	10.53%	9.65%	10.03%	9.44%

Frequently Asked Questions

Can I hold both JEPQ and IQQQ in my portfolio?

With a correlation of 0.94, JEPQ and IQQQ 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 IQQQ?

IQQQ has higher volatility (6.44%) compared to JEPQ (3.65%). In terms of maximum drawdown, JEPQ dropped -20.07% vs IQQQ's -20.41%.

Which ETF is better, JEPQ or IQQQ?

On 1-year performance, IQQQ leads with 32.80% vs 25.85% for JEPQ. On fees, JEPQ is cheaper at 0.35% per year. On volatility, JEPQ has been the lower-risk option at 3.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JEPQ or IQQQ?

Over the 1-year period, IQQQ has performed better with a 32.80% return vs 25.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEPQ or IQQQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.55% for IQQQ.

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

JEPQ has the higher dividend yield at 10.26%, compared with 4.59% for IQQQ.

What is the main difference between JEPQ and IQQQ?

JEPQ tracks Nasdaq-100 Index, while IQQQ tracks Nasdaq-100 Daily Covered Call Index. They also come from different issuers: JPMorgan and ProShares. Their fees differ too: 0.35% for JEPQ and 0.55% for IQQQ.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.13 vs 2.04), 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.