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JEPQ vs. QQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JEPQ vs. QQQ

Last updated Jun 14, 2026

JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and QQQ (Invesco QQQ ETF) are both Nasdaq-100 funds - JEPQ tracks the Nasdaq-100 Index while QQQ tracks the NASDAQ-100 Index. Both are passively managed. Over the past 3 years, JEPQ returned 19.91%/yr vs 26.43%/yr for QQQ. With a 0.97 correlation, they move nearly in lockstep. JEPQ charges 0.35%/yr vs 0.18%/yr for QQQ.

Performance

JEPQ vs. QQQ - 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 ETF (QQQ). 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 7.85% return, which is significantly lower than QQQ's 17.57% return.

JEPQ

1D
0.62%
1M
1.08%
YTD
7.85%
6M
8.80%
1Y
26.60%
3Y*
19.91%
5Y*
—
10Y*
—

QQQ

1D
0.59%
1M
1.75%
YTD
17.57%
6M
17.85%
1Y
37.55%
3Y*
26.43%
5Y*
16.85%
10Y*
21.79%
*Multi-year figures are annualized to reflect compound growth (CAGR)

JEPQ vs. QQQ - Yearly Performance Comparison

2026 (YTD)2025202420232022
JEPQ
JPMorgan Nasdaq Equity Premium Income ETF		7.85%15.18%24.85%36.28%-11.16%
QQQ
Invesco QQQ ETF		17.57%20.77%25.58%54.86%-15.97%

Correlation

The correlation between JEPQ and QQQ is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.96

Correlation (3Y)
Calculated over the trailing 3-year period

0.97

Correlation (All Time)
Calculated using the full available price history since May 4, 2022

0.97

The correlation between JEPQ and QQQ has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

JEPQ vs. QQQ - Sectors Allocation Comparison

Sectors
JEPQ
QQQ

Technology

58.9%
58.7%

Communication Services

13.9%
14.3%

Consumer Cyclical

11.8%
11.4%

Consumer Defensive

6.0%
6.4%

Healthcare

3.9%
3.7%

Industrials

2.8%
2.6%

Utilities

1.1%
1.2%

Basic Materials

0.9%
1.0%

Financial Services

0.3%
0.2%

Energy

0.3%
0.5%

Real Estate

0.2%
0.1%

Technology

JEPQ
58.9%
QQQ
58.7%

Communication Services

JEPQ
13.9%
QQQ
14.3%

Consumer Cyclical

JEPQ
11.8%
QQQ
11.4%

Consumer Defensive

JEPQ
6.0%
QQQ
6.4%

Healthcare

JEPQ
3.9%
QQQ
3.7%

Industrials

JEPQ
2.8%
QQQ
2.6%

Utilities

JEPQ
1.1%
QQQ
1.2%

Basic Materials

JEPQ
0.9%
QQQ
1.0%

Financial Services

JEPQ
0.3%
QQQ
0.2%

Energy

JEPQ
0.3%
QQQ
0.5%

Real Estate

JEPQ
0.2%
QQQ
0.1%

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

Invesco QQQ ETF

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Return for Risk

JEPQ vs. QQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
JEPQ
JEPQ Risk / Return Rank: 7474
Overall Rank
JEPQ Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
JEPQ Sortino Ratio Rank: 6969
Sortino Ratio Rank
JEPQ Omega Ratio Rank: 7979
Omega Ratio Rank
JEPQ Calmar Ratio Rank: 6666
Calmar Ratio Rank
JEPQ Martin Ratio Rank: 8181
Martin Ratio Rank
QQQ
QQQ Risk / Return Rank: 7171
Overall Rank
QQQ Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 7070
Sortino Ratio Rank
QQQ Omega Ratio Rank: 7373
Omega Ratio Rank
QQQ Calmar Ratio Rank: 6969
Calmar Ratio Rank
QQQ Martin Ratio Rank: 7070
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. QQQ - 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 ETF (QQQ). 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.

JEPQQQQDifference
Sharpe ratioReturn per unit of total volatility
2.03
2.09

-0.06

Sortino ratioReturn per unit of downside risk
2.69
2.73

-0.04

Omega ratioGain probability vs. loss probability

1.40

1.37

+0.03

Calmar ratioReturn relative to maximum drawdown

2.91

3.01

-0.10

Martin ratioReturn relative to average drawdown

13.84

11.22

+2.61

JEPQ vs. QQQ - Sharpe Ratio Comparison

The current JEPQ Sharpe Ratio is 2.03, which is comparable to the QQQ Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of JEPQ and QQQ, 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. QQQ - Drawdown Comparison

The maximum JEPQ drawdown since its inception was -20.07%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for JEPQ and QQQ.

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Drawdown Indicators

JEPQQQQDifference

Max Drawdown

Largest peak-to-trough decline

-20.07%

-82.97%

+62.90%

Max Drawdown (1Y)

Largest decline over 1 year

-8.82%

-11.96%

+3.14%

Max Drawdown (3Y)

Largest decline over 3 years

-20.07%

-22.77%

+2.70%

Max Drawdown (5Y)

Largest decline over 5 years

—

-35.12%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-35.12%

—

Current Drawdown

Current decline from peak

-1.64%

-3.33%

+1.69%

Average Drawdown

Average peak-to-trough decline

-3.41%

-32.75%

+29.34%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.85%

3.20%

-1.35%

Volatility

JEPQ vs. QQQ - Volatility Comparison

The current volatility for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) is 4.98%, while Invesco QQQ ETF (QQQ) has a volatility of 7.56%. This indicates that JEPQ experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

JEPQQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.98%

7.56%

-2.58%

Volatility (6M)

Calculated over the trailing 6-month period

10.22%

13.81%

-3.59%

Volatility (1Y)

Calculated over the trailing 1-year period

12.61%

17.19%

-4.58%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.73%

22.55%

-5.82%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.73%

22.38%

-5.65%

JEPQ vs. QQQ - Expense Ratio Comparison

JEPQ has a 0.35% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

JEPQ vs. QQQ - Dividend Comparison

JEPQ's dividend yield for the trailing twelve months is around 10.22%, more than QQQ's 0.39% yield.

PositionTTM20252024202320222021202020192018201720162015
JEPQ
JPMorgan Nasdaq Equity Premium Income ETF		10.22%10.53%9.65%10.03%9.44%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
QQQ
Invesco QQQ ETF		0.39%0.45%0.56%0.62%0.80%0.43%0.55%0.74%0.91%0.84%1.06%0.99%

Frequently Asked Questions

With a correlation of 0.96, JEPQ and QQQ 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.

QQQ has higher volatility (7.56%) compared to JEPQ (4.98%). In terms of maximum drawdown, JEPQ dropped -20.07% vs QQQ's -82.97%.

On 3-year performance, QQQ leads with 26.43% vs 19.91% for JEPQ. On fees, QQQ is cheaper at 0.18% 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.

Over the 3-year period, QQQ has performed better with a 26.43% return vs 19.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QQQ is cheaper with a 0.18% expense ratio, compared with 0.35% for JEPQ.

JEPQ has the higher dividend yield at 10.22%, compared with 0.39% for QQQ.

JEPQ tracks Nasdaq-100 Index, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: JPMorgan and Invesco. Their fees differ too: 0.35% for JEPQ and 0.18% for QQQ.

QQQ currently has the higher Sharpe Ratio (2.09 vs 2.03), 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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