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JEPQ vs. IWN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JEPQ vs. IWN

Last updated Jun 9, 2026

JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and IWN (iShares Russell 2000 Value ETF) are both exchange-traded funds - JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index, while IWN is a Small Cap Value Equities fund tracking the Russell 2000 Value Index. Both are passively managed. Over the past 3 years, JEPQ returned 20.04%/yr vs 16.65%/yr for IWN. A 0.63 correlation means they provide meaningful diversification when combined. JEPQ charges 0.35%/yr vs 0.24%/yr for IWN.

Performance

JEPQ vs. IWN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and iShares Russell 2000 Value ETF (IWN). 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 7.44% return, which is significantly lower than IWN's 16.90% return.

JEPQ

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

IWN

1D
0.86%
1M
-0.18%
YTD
16.90%
6M
16.09%
1Y
39.09%
3Y*
16.65%
5Y*
6.08%
10Y*
10.05%
*Multi-year figures are annualized to reflect compound growth (CAGR)

JEPQ vs. IWN - Yearly Performance Comparison

2026 (YTD)2025202420232022
JEPQ
JPMorgan Nasdaq Equity Premium Income ETF		7.44%15.18%24.85%36.28%-11.16%
IWN
iShares Russell 2000 Value ETF		16.90%12.40%7.63%14.56%-6.88%

Correlation

The correlation between JEPQ and IWN is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.59

Correlation (3Y)
Calculated over the trailing 3-year period

0.54

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

0.63

The correlation between JEPQ and IWN has been stable across timeframes, ranging from 0.54 to 0.63 - a consistent structural relationship.

JEPQ vs. IWN - Sectors Allocation Comparison

Sectors
JEPQ
IWN

Technology

54.0%
12.4%

Communication Services

15.4%
1.6%

Consumer Cyclical

12.8%
8.7%

Consumer Defensive

7.1%
2.0%

Healthcare

4.4%
8.8%

Industrials

3.1%
11.1%

Utilities

1.3%
5.7%

Basic Materials

1.0%
5.4%

Energy

0.4%
9.2%

Financial Services

0.4%
24.2%

Real Estate

0.2%
10.2%

Technology

JEPQ
54.0%
IWN
12.4%

Communication Services

JEPQ
15.4%
IWN
1.6%

Consumer Cyclical

JEPQ
12.8%
IWN
8.7%

Consumer Defensive

JEPQ
7.1%
IWN
2.0%

Healthcare

JEPQ
4.4%
IWN
8.8%

Industrials

JEPQ
3.1%
IWN
11.1%

Utilities

JEPQ
1.3%
IWN
5.7%

Basic Materials

JEPQ
1.0%
IWN
5.4%

Energy

JEPQ
0.4%
IWN
9.2%

Financial Services

JEPQ
0.4%
IWN
24.2%

Real Estate

JEPQ
0.2%
IWN
10.2%

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 Russell 2000 Value ETF

Often compared with JEPQ:
JEPQ vs. JEPIJEPQ vs. QQQIJEPQ vs. QQQJEPQ vs. SCHDJEPQ vs. QYLDJEPQ vs. GPIQJEPQ vs. SPYI
Often compared with IWN:
IWN vs. IWMIWN vs. IWOIWN vs. VTWOIWN vs. IJSIWN vs. IWSIWN vs. IWVIWN vs. IWX

Return for Risk

JEPQ vs. IWN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
JEPQ
JEPQ Risk / Return Rank: 7373
Overall Rank
JEPQ Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
JEPQ Sortino Ratio Rank: 6868
Sortino Ratio Rank
JEPQ Omega Ratio Rank: 7979
Omega Ratio Rank
JEPQ Calmar Ratio Rank: 6565
Calmar Ratio Rank
JEPQ Martin Ratio Rank: 8080
Martin Ratio Rank
IWN
IWN Risk / Return Rank: 7878
Overall Rank
IWN Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
IWN Sortino Ratio Rank: 7676
Sortino Ratio Rank
IWN Omega Ratio Rank: 6969
Omega Ratio Rank
IWN Calmar Ratio Rank: 8888
Calmar Ratio Rank
IWN Martin Ratio Rank: 8484
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. IWN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and iShares Russell 2000 Value ETF (IWN). 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.

JEPQIWNDifference
Sharpe ratioReturn per unit of total volatility
2.13
2.19

-0.05

Sortino ratioReturn per unit of downside risk
2.79
3.07

-0.27

Omega ratioGain probability vs. loss probability

1.42

1.37

+0.05

Calmar ratioReturn relative to maximum drawdown

2.95

4.65

-1.70

Martin ratioReturn relative to average drawdown

14.33

15.56

-1.23

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. IWN - Sharpe Ratio Comparison

The current JEPQ Sharpe Ratio is 2.13, which is comparable to the IWN Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of JEPQ and IWN, 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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Sharpe Ratios by Period

JEPQIWNDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.13

2.19

-0.05

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.28

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.43

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.96

0.39

+0.58

Drawdowns

JEPQ vs. IWN - Drawdown Comparison

The maximum JEPQ drawdown since its inception was -20.07%, smaller than the maximum IWN drawdown of -61.55%. Use the drawdown chart below to compare losses from any high point for JEPQ and IWN.

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Drawdown Indicators

JEPQIWNDifference

Max Drawdown

Largest peak-to-trough decline

-20.07%

-61.55%

+41.48%

Max Drawdown (1Y)

Largest decline over 1 year

-8.82%

-8.45%

-0.37%

Max Drawdown (3Y)

Largest decline over 3 years

-20.07%

-26.70%

+6.63%

Max Drawdown (5Y)

Largest decline over 5 years

—

-26.70%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-46.08%

—

Current Drawdown

Current decline from peak

-2.02%

-1.91%

-0.11%

Average Drawdown

Average peak-to-trough decline

-3.42%

-10.15%

+6.73%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.81%

2.52%

-0.71%

Volatility

JEPQ vs. IWN - Volatility Comparison

The current volatility for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) is 3.65%, while iShares Russell 2000 Value ETF (IWN) has a volatility of 5.31%. This indicates that JEPQ experiences smaller price fluctuations and is considered to be less risky than IWN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

JEPQIWNDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.65%

5.31%

-1.66%

Volatility (6M)

Calculated over the trailing 6-month period

9.66%

12.13%

-2.47%

Volatility (1Y)

Calculated over the trailing 1-year period

12.19%

17.99%

-5.80%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.67%

21.47%

-4.80%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.67%

23.41%

-6.74%

JEPQ vs. IWN - Expense Ratio Comparison

JEPQ has a 0.35% expense ratio, which is higher than IWN's 0.24% expense ratio.

Dividends

JEPQ vs. IWN - Dividend Comparison

JEPQ's dividend yield for the trailing twelve months is around 10.26%, more than IWN's 1.46% yield.

PositionTTM20252024202320222021202020192018201720162015
IWN
iShares Russell 2000 Value ETF		1.46%1.70%1.80%2.04%2.12%1.48%1.60%1.92%1.99%1.78%1.74%2.15%
JEPQ
JPMorgan Nasdaq Equity Premium Income ETF		10.26%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 IWN have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IWN has higher volatility (5.31%) compared to JEPQ (3.65%). In terms of maximum drawdown, JEPQ dropped -20.07% vs IWN's -61.55%.

On 3-year performance, JEPQ leads with 20.04% vs 16.65% for IWN. On fees, IWN is cheaper at 0.24% 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.

Over the 3-year period, JEPQ has performed better with a 20.04% return vs 16.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IWN is cheaper with a 0.24% expense ratio, compared with 0.35% for JEPQ.

JEPQ has the higher dividend yield at 10.26%, compared with 1.46% for IWN.

JEPQ is categorized as Nasdaq-100, while IWN is Small Cap Value Equities. JEPQ tracks Nasdaq-100 Index, while IWN tracks Russell 2000 Value Index. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.35% for JEPQ and 0.24% for IWN.

IWN currently has the higher Sharpe Ratio (2.19 vs 2.13), 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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