JEPQ vs. PBP
Compare and contrast key facts about JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and Invesco S&P 500 BuyWrite ETF (PBP).
JEPQ and PBP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JEPQ is a passively managed fund by JPMorgan that tracks the performance of the Nasdaq-100 Index. It was launched on May 3, 2022. PBP is a passively managed fund by Invesco that tracks the performance of the Cboe S&P 500 BuyWrite Index. It was launched on Dec 20, 2007. Both JEPQ and PBP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
JEPQ vs. PBP - Performance Comparison
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JEPQ vs. PBP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JEPQ JPMorgan Nasdaq Equity Premium Income ETF | -1.76% | 15.18% | 24.85% | 36.28% | -12.89% |
PBP Invesco S&P 500 BuyWrite ETF | -0.45% | 8.49% | 19.83% | 11.59% | -11.23% |
Returns By Period
In the year-to-date period, JEPQ achieves a -1.76% return, which is significantly lower than PBP's -0.45% return.
JEPQ
- 1D
- 0.13%
- 1M
- -1.64%
- YTD
- -1.76%
- 6M
- 2.43%
- 1Y
- 19.67%
- 3Y*
- 19.59%
- 5Y*
- —
- 10Y*
- —
PBP
- 1D
- 0.18%
- 1M
- -1.86%
- YTD
- -0.45%
- 6M
- 5.81%
- 1Y
- 11.00%
- 3Y*
- 10.88%
- 5Y*
- 7.61%
- 10Y*
- 6.76%
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JEPQ vs. PBP - Expense Ratio Comparison
JEPQ has a 0.35% expense ratio, which is higher than PBP's 0.29% expense ratio.
Return for Risk
JEPQ vs. PBP — Risk / Return Rank
JEPQ
PBP
JEPQ vs. PBP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and Invesco S&P 500 BuyWrite ETF (PBP). 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.
| JEPQ | PBP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.07 | 0.77 | +0.29 |
Sortino ratioReturn per unit of downside risk | 1.63 | 1.24 | +0.39 |
Omega ratioGain probability vs. loss probability | 1.26 | 1.24 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.75 | 1.11 | +0.64 |
Martin ratioReturn relative to average drawdown | 8.55 | 6.28 | +2.27 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JEPQ | PBP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.07 | 0.77 | +0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.64 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.50 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.84 | 0.33 | +0.51 |
Correlation
The correlation between JEPQ and PBP is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
JEPQ vs. PBP - Dividend Comparison
JEPQ's dividend yield for the trailing twelve months is around 11.12%, less than PBP's 11.56% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JEPQ JPMorgan Nasdaq Equity Premium Income ETF | 11.12% | 10.53% | 9.65% | 10.03% | 9.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PBP Invesco S&P 500 BuyWrite ETF | 11.56% | 11.12% | 9.36% | 3.35% | 1.33% | 6.21% | 1.41% | 5.04% | 2.59% | 10.86% | 2.56% | 6.19% |
Drawdowns
JEPQ vs. PBP - Drawdown Comparison
The maximum JEPQ drawdown since its inception was -20.07%, smaller than the maximum PBP drawdown of -43.43%. Use the drawdown chart below to compare losses from any high point for JEPQ and PBP.
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Drawdown Indicators
| JEPQ | PBP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.07% | -43.43% | +23.36% |
Max Drawdown (1Y)Largest decline over 1 year | -8.82% | -6.73% | -2.09% |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.61% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.31% | — |
Current DrawdownCurrent decline from peak | -4.77% | -2.72% | -2.05% |
Average DrawdownAverage peak-to-trough decline | -3.55% | -6.75% | +3.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.38% | 1.81% | +0.57% |
Volatility
JEPQ vs. PBP - Volatility Comparison
JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a higher volatility of 5.94% compared to Invesco S&P 500 BuyWrite ETF (PBP) at 4.05%. This indicates that JEPQ's price experiences larger fluctuations and is considered to be riskier than PBP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JEPQ | PBP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.94% | 4.05% | +1.89% |
Volatility (6M)Calculated over the trailing 6-month period | 10.52% | 5.97% | +4.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.53% | 14.26% | +4.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.90% | 11.95% | +4.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.90% | 13.68% | +3.22% |