JEPQ vs. NVDY

Last updated Jun 13, 2026

JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and NVDY (YieldMax NVDA Option Income Strategy ETF) are both exchange-traded funds - JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index, while NVDY is a Derivative Income fund actively managed by YieldMax. JEPQ is passively managed, while NVDY is actively managed. Over the past 3 years, JEPQ returned 19.91%/yr vs 51.33%/yr for NVDY. A 0.69 correlation means they provide meaningful diversification when combined. JEPQ charges 0.35%/yr vs 0.99%/yr for NVDY.

Performance

JEPQ vs. NVDY - Performance Comparison

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

Returns By Period

In the year-to-date period, JEPQ achieves a 7.85% return, which is significantly lower than NVDY's 8.91% return.

JEPQ

• 1D: 0.62%
• 1M: 0.88%
• YTD: 7.85%
• 6M: 8.80%
• 1Y: 25.53%
• 3Y*: 19.91%
• 5Y*: —
• 10Y*: —

NVDY

• 1D: 0.08%
• 1M: -7.09%
• YTD: 8.91%
• 6M: 14.71%
• 1Y: 36.80%
• 3Y*: 51.33%
• 5Y*: —
• 10Y*: —

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

JEPQ vs. NVDY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.85%	15.18%	24.85%	16.35%
NVDY YieldMax NVDA Option Income Strategy ETF	8.91%	27.38%	114.23%	41.31%

Correlation

The correlation between JEPQ and NVDY is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (All Time) Calculated using the full available price history since May 11, 2023	0.69

The correlation between JEPQ and NVDY has been stable across timeframes, ranging from 0.61 to 0.69 - a consistent structural relationship.

Return for Risk

JEPQ vs. NVDY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JEPQ

JEPQ Risk / Return Rank: 74
JEPQ Sharpe Ratio Rank: 73
JEPQ Sortino Ratio Rank: 69
JEPQ Omega Ratio Rank: 79
JEPQ Calmar Ratio Rank: 66
JEPQ Martin Ratio Rank: 81

NVDY

NVDY Risk / Return Rank: 47
NVDY Sharpe Ratio Rank: 42
NVDY Sortino Ratio Rank: 40
NVDY Omega Ratio Rank: 40
NVDY Calmar Ratio Rank: 66
NVDY Martin Ratio Rank: 47

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. NVDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and YieldMax NVDA Option Income Strategy ETF (NVDY). 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	NVDY	Difference
Sharpe ratio: Return per unit of total volatility	2.03	1.32	+0.71
Sortino ratio: Return per unit of downside risk	2.69	1.83	+0.86
Omega ratio: Gain probability vs. loss probability	1.40	1.23	+0.17
Calmar ratio: Return relative to maximum drawdown	2.91	2.89	+0.02
Martin ratio: Return relative to average drawdown	13.84	6.79	+7.05

JEPQ vs. NVDY - Sharpe Ratio Comparison

The current JEPQ Sharpe Ratio is 2.03, which is higher than the NVDY Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of JEPQ and NVDY, 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. NVDY - Drawdown Comparison

The maximum JEPQ drawdown since its inception was -20.07%, smaller than the maximum NVDY drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for JEPQ and NVDY.

Drawdown Indicators

	JEPQ	NVDY	Difference
Max Drawdown Largest peak-to-trough decline	-20.07%	-34.08%	+14.01%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	-12.81%	+3.99%
Max Drawdown (3Y) Largest decline over 3 years	-20.07%	-34.08%	+14.01%
Current Drawdown Current decline from peak	-1.64%	-10.09%	+8.45%
Average Drawdown Average peak-to-trough decline	-3.41%	-6.17%	+2.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	5.44%	-3.59%

Volatility

JEPQ vs. NVDY - Volatility Comparison

The current volatility for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) is 4.98%, while YieldMax NVDA Option Income Strategy ETF (NVDY) has a volatility of 10.45%. This indicates that JEPQ experiences smaller price fluctuations and is considered to be less risky than NVDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEPQ	NVDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.98%	10.45%	-5.47%
Volatility (6M) Calculated over the trailing 6-month period	10.22%	21.66%	-11.44%
Volatility (1Y) Calculated over the trailing 1-year period	12.61%	28.06%	-15.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.73%	38.24%	-21.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.73%	38.24%	-21.51%

JEPQ vs. NVDY - Expense Ratio Comparison

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

Dividends

JEPQ vs. NVDY - Dividend Comparison

JEPQ's dividend yield for the trailing twelve months is around 10.22%, less than NVDY's 66.87% yield.

Position	TTM	2025	2024	2023	2022
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.22%	10.53%	9.65%	10.03%	9.44%
NVDY YieldMax NVDA Option Income Strategy ETF	66.87%	83.10%	83.65%	22.32%	0.00%

Frequently Asked Questions

Can I hold both JEPQ and NVDY in my portfolio?

JEPQ and NVDY have a correlation of 0.61, 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 NVDY?

NVDY has higher volatility (10.45%) compared to JEPQ (4.98%). In terms of maximum drawdown, JEPQ dropped -20.07% vs NVDY's -34.08%.

Which ETF is better, JEPQ or NVDY?

On 3-year performance, NVDY leads with 51.33% vs 19.91% for JEPQ. On fees, JEPQ is cheaper at 0.35% per year. On volatility, JEPQ has been the lower-risk option at 4.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JEPQ or NVDY?

Over the 3-year period, NVDY has performed better with a 51.33% return vs 19.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEPQ or NVDY?

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

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

NVDY has the higher dividend yield at 66.87%, compared with 10.22% for JEPQ.

What is the main difference between JEPQ and NVDY?

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

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.03 vs 1.32), 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.