JEPQ vs. QEW

Last updated Jun 4, 2026

JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and QEW (Invesco QQQ Equal Weight ETF) are both Nasdaq-100 funds - JEPQ tracks the Nasdaq-100 Index while QEW tracks the Nasdaq-100 Equal Weighted Index. Both are passively managed. A 0.76 correlation means they provide meaningful diversification when combined. JEPQ charges 0.35%/yr vs 0.25%/yr for QEW.

Performance

JEPQ vs. QEW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and Invesco QQQ Equal Weight ETF (QEW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

JEPQ

• 1D: -0.10%
• 1M: 4.31%
• YTD: 9.54%
• 6M: 9.75%
• 1Y: 29.00%
• 3Y*: 20.92%
• 5Y*: —
• 10Y*: —

QEW

• 1D: -0.11%
• 1M: 10.55%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JEPQ vs. QEW - Yearly Performance Comparison

	2026 (YTD)
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.20%
QEW Invesco QQQ Equal Weight ETF	21.49%

Correlation

The correlation between JEPQ and QEW is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 19, 2026	0.76

Return for Risk

JEPQ vs. QEW — 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: 74
JEPQ Sortino Ratio Rank: 71
JEPQ Omega Ratio Rank: 80
JEPQ Calmar Ratio Rank: 65
JEPQ Martin Ratio Rank: 80

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. QEW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and Invesco QQQ Equal Weight ETF (QEW). 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	QEW	Difference
Sharpe ratio: Return per unit of total volatility	2.49	—	—
Sortino ratio: Return per unit of downside risk	3.29	—	—
Omega ratio: Gain probability vs. loss probability	1.49	—	—
Calmar ratio: Return relative to maximum drawdown	3.31	—	—
Martin ratio: Return relative to average drawdown	16.22	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	JEPQ	QEW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.49	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.00	9.75	-8.74

Drawdowns

JEPQ vs. QEW - Drawdown Comparison

The maximum JEPQ drawdown since its inception was -20.07%, which is greater than QEW's maximum drawdown of -4.15%. Use the drawdown chart below to compare losses from any high point for JEPQ and QEW.

Drawdown Indicators

	JEPQ	QEW	Difference
Max Drawdown Largest peak-to-trough decline	-20.07%	-4.15%	-15.92%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-20.07%	—	—
Current Drawdown Current decline from peak	-0.10%	-0.11%	+0.01%
Average Drawdown Average peak-to-trough decline	-3.42%	-0.57%	-2.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	—	—

Volatility

Volatility by Period

	JEPQ	QEW	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.26%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.07%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.73%	15.78%	-4.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.61%	15.78%	+0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.61%	15.78%	+0.83%

JEPQ vs. QEW - Expense Ratio Comparison

JEPQ has a 0.35% expense ratio, which is higher than QEW's 0.25% expense ratio.

Dividends

JEPQ vs. QEW - Dividend Comparison

JEPQ's dividend yield for the trailing twelve months is around 10.07%, while QEW has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.07%	10.53%	9.65%	10.03%	9.44%
QEW Invesco QQQ Equal Weight ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JEPQ and QEW in my portfolio?

JEPQ and QEW have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JEPQ or QEW?

On fees, QEW is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JEPQ or QEW?

QEW is cheaper with a 0.25% expense ratio, compared with 0.35% for JEPQ.

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

JEPQ has the higher dividend yield at 10.07%, compared with 0.00% for QEW.

What is the main difference between JEPQ and QEW?

JEPQ tracks Nasdaq-100 Index, while QEW tracks Nasdaq-100 Equal Weighted Index. They also come from different issuers: JPMorgan and Invesco. Their fees differ too: 0.35% for JEPQ and 0.25% for QEW.