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JEPQ vs. LRGF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JEPQ vs. LRGF

Last updated Jul 26, 2026
Documentation

JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and LRGF (iShares MSCI USA Multifactor ETF) are both exchange-traded funds - JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index, while LRGF is a Large Cap Blend Equities fund tracking the MSCI USA Diversified Multi-Factor. Both are passively managed. Over the past 3 years, JEPQ returned 17.64%/yr vs 19.41%/yr for LRGF. Their correlation of 0.91 means they have usually moved in the same direction. JEPQ charges 0.35%/yr vs 0.20%/yr for LRGF.

Performance

JEPQ vs. LRGF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and iShares MSCI USA Multifactor ETF (LRGF). 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 LRGF's 8.94% 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%

LRGF

1D
0.09%
1M
1.20%
6M
8.82%
YTD
8.94%
1Y
15.34%
3Y*
19.41%
5Y*
13.20%
10Y*
13.48%
ALL TIME*
12.23%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

JEPQ

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

LRGF

iShares MSCI USA Multifactor ETF
$11.35M$13.93M$11.55M

JEPQ vs. LRGF - Yearly Performance Comparison

2026 (YTD)2025202420232022
JEPQ
JPMorgan Nasdaq Equity Premium Income ETF		5.52%15.18%24.85%36.28%-11.16%
LRGF
iShares MSCI USA Multifactor ETF		8.94%16.48%26.59%25.85%-5.80%

Correlation

The correlation between JEPQ and LRGF is 0.90, 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.

0.90

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 LRGF has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

JEPQ vs. LRGF - Sectors Allocation Comparison

Sectors
JEPQ
LRGF

Technology

60.6%
37.3%

Communication Services

12.8%
10.0%

Consumer Cyclical

11.1%
10.5%

Consumer Defensive

5.8%
4.9%

Healthcare

4.0%
9.4%

Industrials

3.0%
8.3%

Utilities

1.0%
2.0%

Basic Materials

0.9%
1.8%

Financial Services

0.3%
11.7%

Energy

0.3%
3.1%

Real Estate

0.2%
1.1%

Technology

JEPQ
60.6%
LRGF
37.3%

Communication Services

JEPQ
12.8%
LRGF
10.0%

Consumer Cyclical

JEPQ
11.1%
LRGF
10.5%

Consumer Defensive

JEPQ
5.8%
LRGF
4.9%

Healthcare

JEPQ
4.0%
LRGF
9.4%

Industrials

JEPQ
3.0%
LRGF
8.3%

Utilities

JEPQ
1.0%
LRGF
2.0%

Basic Materials

JEPQ
0.9%
LRGF
1.8%

Financial Services

JEPQ
0.3%
LRGF
11.7%

Energy

JEPQ
0.3%
LRGF
3.1%

Real Estate

JEPQ
0.2%
LRGF
1.1%

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 MSCI USA Multifactor ETF

Often compared with JEPQ:
JEPQ vs. JEPIJEPQ vs. QQQIJEPQ vs. QQQJEPQ vs. SCHDJEPQ vs. QYLDJEPQ vs. GPIQJEPQ vs. SPYI
Often compared with LRGF:
LRGF vs. VOOLRGF vs. QUALLRGF vs. INTFLRGF vs. SPYLRGF vs. FNDALRGF vs. VVLRGF vs. JQUA

Return for Risk

JEPQ vs. LRGF — 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
LRGF
LRGF Risk / Return Rank: 5252
Overall Rank
LRGF Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
LRGF Sortino Ratio Rank: 5151
Sortino Ratio Rank
LRGF Omega Ratio Rank: 5050
Omega Ratio Rank
LRGF Calmar Ratio Rank: 5151
Calmar Ratio Rank
LRGF Martin Ratio Rank: 5959
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. LRGF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and iShares MSCI USA Multifactor ETF (LRGF). 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.

JEPQLRGFDifference
Sharpe ratioReturn per unit of total volatility
1.23
1.25

-0.02

Sortino ratioReturn per unit of downside risk
1.72
1.77

-0.06

Omega ratioGain probability vs. loss probability

1.23

1.22

+0.01

Calmar ratioReturn relative to maximum drawdown

1.97

1.78

+0.19

Martin ratioReturn relative to average drawdown

8.72

6.95

+1.77

JEPQ vs. LRGF - Sharpe Ratio Comparison

The current JEPQ Sharpe Ratio is 1.23, which is comparable to the LRGF Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of JEPQ and LRGF, 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. LRGF - Drawdown Comparison

The maximum JEPQ drawdown since its inception was -20.07%, smaller than the maximum LRGF drawdown of -36.03%. Use the drawdown chart below to compare losses from any high point for JEPQ and LRGF.

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Drawdown Indicators

JEPQLRGFDifference

Max Drawdown

Largest peak-to-trough decline

-20.07%

-36.03%

+15.96%

Max Drawdown (1Y)

Largest decline over 1 year

-8.82%

-8.92%

+0.10%

Max Drawdown (3Y)

Largest decline over 3 years

-20.07%

-19.44%

-0.63%

Max Drawdown (5Y)

Largest decline over 5 years

—

-21.62%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-36.03%

—

Current Drawdown

Current decline from peak

-4.71%

-2.11%

-2.60%

Average Drawdown

Average peak-to-trough decline

-3.37%

-4.51%

+1.14%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.99%

2.28%

-0.29%

Volatility

JEPQ vs. LRGF - Volatility Comparison

JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a higher volatility of 5.63% compared to iShares MSCI USA Multifactor ETF (LRGF) at 2.90%. This indicates that JEPQ's price experiences larger fluctuations and is considered to be riskier than LRGF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

JEPQLRGFDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.63%

2.90%

+2.73%

Volatility (6M)

Calculated over the trailing 6-month period

11.56%

9.83%

+1.73%

Volatility (1Y)

Calculated over the trailing 1-year period

14.13%

12.69%

+1.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.84%

17.07%

-0.23%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.84%

18.28%

-1.44%

JEPQ vs. LRGF - Expense Ratio Comparison

JEPQ has a 0.35% expense ratio, which is higher than LRGF's 0.20% expense ratio.

Dividends

JEPQ vs. LRGF - Dividend Comparison

JEPQ's dividend yield for the trailing twelve months is around 10.80%, more than LRGF's 1.09% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
LRGF
iShares MSCI USA Multifactor ETF		1.09%1.16%1.23%1.49%1.78%1.05%1.35%1.76%3.27%1.68%1.56%0.83%

Frequently Asked Questions

With a correlation of 0.90, JEPQ and LRGF 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.

JEPQ has higher volatility (5.63%) compared to LRGF (2.90%). In terms of maximum drawdown, JEPQ dropped -20.07% vs LRGF's -36.03%.

On 3-year performance, LRGF leads with 19.41% vs 17.64% for JEPQ. On fees, LRGF is cheaper at 0.20% per year. On volatility, LRGF has been the lower-risk option at 2.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, LRGF has performed better with a 19.41% return vs 17.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

LRGF is cheaper with a 0.20% expense ratio, compared with 0.35% for JEPQ.

JEPQ has the higher dividend yield at 10.80%, compared with 1.09% for LRGF.

JEPQ is categorized as Nasdaq-100, while LRGF is Large Cap Blend Equities. JEPQ tracks Nasdaq-100 Index, while LRGF tracks MSCI USA Diversified Multi-Factor. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.35% for JEPQ and 0.20% for LRGF.

LRGF currently has the higher Sharpe Ratio (1.25 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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