JEPQ vs. ITOT

Last updated Jul 26, 2026

JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and ITOT (iShares Core S&P Total U.S. Stock Market ETF) are both exchange-traded funds - JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index, while ITOT is a Large Cap Blend Equities fund tracking the S&P Total Market Index. Both are passively managed. Over the past 3 years, JEPQ returned 17.64%/yr vs 18.70%/yr for ITOT. Their correlation of 0.91 means they have usually moved in the same direction. JEPQ charges 0.35%/yr vs 0.03%/yr for ITOT.

Performance

JEPQ vs. ITOT - 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 S&P Total U.S. Stock Market ETF (ITOT). 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 lower than ITOT's 9.48% 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%

ITOT

• 1D: 0.07%
• 1M: 0.48%
• 6M: 7.83%
• YTD: 9.48%
• 1Y: 17.56%
• 3Y*: 18.70%
• 5Y*: 11.47%
• 10Y*: 14.42%
• ALL TIME*: 10.52%

*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)
ITOT iShares Core S&P Total U.S. Stock Market ETF	$228.53M	$259.55M	$322.53M
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	$411.15M	$392.07M	$419.06M

JEPQ vs. ITOT - 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%
ITOT iShares Core S&P Total U.S. Stock Market ETF	9.48%	17.00%	23.80%	26.12%	-7.51%

Correlation

The correlation between JEPQ and ITOT is 0.91, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.91
Correlation (3Y) Balances recent behavior with more history.	0.90
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.91

The correlation between JEPQ and ITOT has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

JEPQ vs. ITOT - Sectors Allocation Comparison

Sectors	JEPQ	ITOT
Technology	60.6%	36.4%
Communication Services	12.8%	9.1%
Consumer Cyclical	11.1%	9.5%
Consumer Defensive	5.8%	4.3%
Healthcare	4.0%	9.5%
Industrials	3.0%	9.9%
Utilities	1.0%	2.2%
Basic Materials	0.9%	1.9%
Financial Services	0.3%	11.9%
Energy	0.3%	3.1%
Real Estate	0.2%	2.3%

Return for Risk

JEPQ vs. ITOT — 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

ITOT

ITOT Risk / Return Rank: 61
ITOT Sharpe Ratio Rank: 60
ITOT Sortino Ratio Rank: 58
ITOT Omega Ratio Rank: 58
ITOT Calmar Ratio Rank: 58
ITOT Martin Ratio Rank: 71

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. ITOT - 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 S&P Total U.S. Stock Market ETF (ITOT). 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	ITOT	Difference
Sharpe ratio: Return per unit of total volatility	1.23	1.40	-0.17
Sortino ratio: Return per unit of downside risk	1.72	1.97	-0.25
Omega ratio: Gain probability vs. loss probability	1.23	1.25	-0.02
Calmar ratio: Return relative to maximum drawdown	1.97	2.04	-0.06
Martin ratio: Return relative to average drawdown	8.72	8.79	-0.07

JEPQ vs. ITOT - Sharpe Ratio Comparison

The current JEPQ Sharpe Ratio is 1.23, which is comparable to the ITOT Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of JEPQ and ITOT, 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. ITOT - Drawdown Comparison

The maximum JEPQ drawdown since its inception was -20.07%, smaller than the maximum ITOT drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for JEPQ and ITOT.

Drawdown Indicators

	JEPQ	ITOT	Difference
Max Drawdown Largest peak-to-trough decline	-20.07%	-55.20%	+35.13%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	-8.90%	+0.08%
Max Drawdown (3Y) Largest decline over 3 years	-20.07%	-19.44%	-0.63%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.36%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.00%	—
Current Drawdown Current decline from peak	-4.71%	-2.31%	-2.40%
Average Drawdown Average peak-to-trough decline	-3.37%	-6.94%	+3.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	2.06%	-0.07%

Volatility

JEPQ vs. ITOT - Volatility Comparison

JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a higher volatility of 5.63% compared to iShares Core S&P Total U.S. Stock Market ETF (ITOT) at 3.06%. This indicates that JEPQ's price experiences larger fluctuations and is considered to be riskier than ITOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEPQ	ITOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.63%	3.06%	+2.57%
Volatility (6M) Calculated over the trailing 6-month period	11.56%	10.02%	+1.54%
Volatility (1Y) Calculated over the trailing 1-year period	14.13%	12.94%	+1.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.84%	17.44%	-0.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.84%	18.25%	-1.41%

JEPQ vs. ITOT - Expense Ratio Comparison

JEPQ has a 0.35% expense ratio, which is higher than ITOT's 0.03% expense ratio.

Dividends

JEPQ vs. ITOT - Dividend Comparison

JEPQ's dividend yield for the trailing twelve months is around 10.80%, more than ITOT's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ITOT iShares Core S&P Total U.S. Stock Market ETF	1.02%	1.11%	1.23%	1.47%	1.66%	1.18%	1.41%	1.88%	2.14%	1.69%	1.83%	2.01%
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

Can I hold both JEPQ and ITOT in my portfolio?

With a correlation of 0.91, JEPQ and ITOT 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 ITOT?

JEPQ has higher volatility (5.63%) compared to ITOT (3.06%). In terms of maximum drawdown, JEPQ dropped -20.07% vs ITOT's -55.20%.

Which ETF is better, JEPQ or ITOT?

On 3-year performance, ITOT leads with 18.70% vs 17.64% for JEPQ. On fees, ITOT is cheaper at 0.03% per year. On volatility, ITOT has been the lower-risk option at 3.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JEPQ or ITOT?

Over the 3-year period, ITOT has performed better with a 18.70% return vs 17.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEPQ or ITOT?

ITOT is cheaper with a 0.03% expense ratio, compared with 0.35% for JEPQ.

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

JEPQ has the higher dividend yield at 10.80%, compared with 1.02% for ITOT.

What is the main difference between JEPQ and ITOT?

JEPQ is categorized as Nasdaq-100, while ITOT is Large Cap Blend Equities. JEPQ tracks Nasdaq-100 Index, while ITOT tracks S&P Total Market Index. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.35% for JEPQ and 0.03% for ITOT.

Which has better risk-adjusted returns?

ITOT currently has the higher Sharpe Ratio (1.40 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.