JEPQ vs. MSTY

Last updated Aug 4, 2026

JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and MSTY (YieldMax™ MSTR Option Income Strategy ETF) are both exchange-traded funds - JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index, while MSTY is a Derivative Income fund actively managed by YieldMax. JEPQ is passively managed, while MSTY is actively managed. Over the past year, JEPQ returned 21.24% vs -68.04% for MSTY. Their 0.44 correlation means their historical movements had little consistent relationship. JEPQ charges 0.35%/yr vs 0.99%/yr for MSTY.

Performance

JEPQ vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and YieldMax™ MSTR Option Income Strategy ETF (MSTY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JEPQ achieves a 7.51% return, which is significantly higher than MSTY's -32.53% return.

JEPQ

• 1D: 1.38%
• 1M: -0.56%
• 6M: 4.41%
• YTD: 7.51%
• 1Y: 21.24%
• 3Y*: 18.60%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.90%

MSTY

• 1D: 1.13%
• 1M: -1.52%
• 6M: -27.05%
• YTD: -32.53%
• 1Y: -68.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.99%

*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)
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	$489.18M	$434.68M	$428.59M
MSTY YieldMax™ MSTR Option Income Strategy ETF	$12.83M	$13.14M	$28.03M

JEPQ vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.51%	15.18%	19.29%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-32.53%	-42.71%	212.16%

Correlation

The correlation between JEPQ and MSTY is 0.46, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.46
Correlation (All Time) Calculated using the full available price history since Feb 22, 2024	0.44

Return for Risk

JEPQ vs. MSTY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JEPQ

JEPQ Risk / Return Rank: 66
JEPQ Sharpe Ratio Rank: 61
JEPQ Sortino Ratio Rank: 59
JEPQ Omega Ratio Rank: 64
JEPQ Calmar Ratio Rank: 69
JEPQ Martin Ratio Rank: 77

MSTY

MSTY Risk / Return Rank: 1
MSTY Sharpe Ratio Rank: 1
MSTY Sortino Ratio Rank: 1
MSTY Omega Ratio Rank: 1
MSTY Calmar Ratio Rank: 1
MSTY Martin Ratio Rank: 2

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JEPQ vs. MSTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and YieldMax™ MSTR Option Income Strategy ETF (MSTY). 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	MSTY	Difference
Sharpe ratio: Return per unit of total volatility	1.46	-1.05	+2.51
Sortino ratio: Return per unit of downside risk	2.04	-1.96	+4.00
Omega ratio: Gain probability vs. loss probability	1.28	0.79	+0.49
Calmar ratio: Return relative to maximum drawdown	2.42	-0.91	+3.33
Martin ratio: Return relative to average drawdown	9.91	-1.34	+11.24

JEPQ vs. MSTY - Sharpe Ratio Comparison

The current JEPQ Sharpe Ratio is 1.46, which is higher than the MSTY Sharpe Ratio of -1.05. The chart below compares the historical Sharpe Ratios of JEPQ and MSTY, 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. MSTY - Drawdown Comparison

The maximum JEPQ drawdown since its inception was -20.07%, smaller than the maximum MSTY drawdown of -77.40%. Use the drawdown chart below to compare losses from any high point for JEPQ and MSTY.

Drawdown Indicators

	JEPQ	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-20.07%	-77.40%	+57.33%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	-74.91%	+66.09%
Max Drawdown (3Y) Largest decline over 3 years	-20.07%	—	—
Current Drawdown Current decline from peak	-2.91%	-73.47%	+70.56%
Average Drawdown Average peak-to-trough decline	-3.38%	-29.12%	+25.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	50.95%	-48.80%

Volatility

JEPQ vs. MSTY - Volatility Comparison

The current volatility for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) is 6.14%, while YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a volatility of 13.25%. This indicates that JEPQ experiences smaller price fluctuations and is considered to be less risky than MSTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEPQ	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.14%	13.25%	-7.11%
Volatility (6M) Calculated over the trailing 6-month period	12.20%	52.14%	-39.94%
Volatility (1Y) Calculated over the trailing 1-year period	14.64%	64.93%	-50.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.90%	71.85%	-54.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.90%	71.85%	-54.95%

JEPQ vs. MSTY - Expense Ratio Comparison

JEPQ has a 0.35% expense ratio, which is lower than MSTY's 0.99% expense ratio.

Dividends

JEPQ vs. MSTY - Dividend Comparison

JEPQ's dividend yield for the trailing twelve months is around 11.18%, less than MSTY's 248.73% yield.

Position	TTM	2025	2024	2023	2022
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	11.18%	10.53%	9.65%	10.03%	9.44%
MSTY YieldMax™ MSTR Option Income Strategy ETF	248.73%	294.61%	104.56%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JEPQ and MSTY in my portfolio?

JEPQ and MSTY have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JEPQ or MSTY?

MSTY has higher volatility (13.25%) compared to JEPQ (6.14%). In terms of maximum drawdown, JEPQ dropped -20.07% vs MSTY's -77.40%.

Which ETF is better, JEPQ or MSTY?

On 1-year performance, JEPQ leads with 21.24% vs -68.04% for MSTY. On fees, JEPQ is cheaper at 0.35% per year. On volatility, JEPQ has been the lower-risk option at 6.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JEPQ or MSTY?

Over the 1-year period, JEPQ has performed better with a 21.24% return vs -68.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEPQ or MSTY?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.99% for MSTY.

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

MSTY has the higher dividend yield at 248.73%, compared with 11.18% for JEPQ.

What is the main difference between JEPQ and MSTY?

JEPQ is categorized as Nasdaq-100, while MSTY is Derivative Income. They also come from different issuers: JPMorgan and YieldMax. Their fees differ too: 0.35% for JEPQ and 0.99% for MSTY.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (1.46 vs -1.05), 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.