JEPQ vs. QQQ

Last updated Apr 15, 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 21.24%/yr vs 26.16%/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.

Returns By Period

In the year-to-date period, JEPQ achieves a 3.17% return, which is significantly higher than QQQ's 2.46% return.

JEPQ

• 1D: 0.69%
• 1M: 4.27%
• YTD: 3.17%
• 6M: 8.04%
• 1Y: 30.61%
• 3Y*: 21.24%
• 5Y*: —
• 10Y*: —

QQQ

• 1D: 1.82%
• 1M: 6.01%
• YTD: 2.46%
• 6M: 5.39%
• 1Y: 38.07%
• 3Y*: 26.16%
• 5Y*: 13.65%
• 10Y*: 19.83%

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

JEPQ vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	3.17%	15.18%	24.85%	36.28%	-12.89%
QQQ Invesco QQQ ETF	2.46%	20.77%	25.58%	54.86%	-18.72%

Correlation

The correlation between JEPQ and QQQ is 0.97 — 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	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (All Time) Calculated using the full available price history since May 5, 2022	0.97

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

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: 70
JEPQ Sharpe Ratio Rank: 66
JEPQ Sortino Ratio Rank: 60
JEPQ Omega Ratio Rank: 71
JEPQ Calmar Ratio Rank: 69
JEPQ Martin Ratio Rank: 84

QQQ

QQQ Risk / Return Rank: 59
QQQ Sharpe Ratio Rank: 59
QQQ Sortino Ratio Rank: 53
QQQ Omega Ratio Rank: 55
QQQ Calmar Ratio Rank: 62
QQQ Martin Ratio Rank: 64

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.

	JEPQ	QQQ	Difference
Sharpe ratio Return per unit of total volatility	2.41	2.26	+0.15
Sortino ratio Return per unit of downside risk	3.19	3.03	+0.17
Omega ratio Gain probability vs. loss probability	1.47	1.40	+0.07
Calmar ratio Return relative to maximum drawdown	3.80	3.47	+0.32
Martin ratio Return relative to average drawdown	18.20	13.22	+4.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JEPQ vs. QQQ - Sharpe Ratio Comparison

The current JEPQ Sharpe Ratio is 2.41, which is comparable to the QQQ Sharpe Ratio of 2.26. 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.

Sharpe Ratios by Period

	JEPQ	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	2.26	+0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.61	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	0.39	+0.53

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.

Drawdown Indicators

	JEPQ	QQQ	Difference
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 (5Y) Largest decline over 5 years	—	-35.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.12%	—
Current Drawdown Current decline from peak	0.00%	-0.88%	+0.88%
Average Drawdown Average peak-to-trough decline	-3.54%	-32.95%	+29.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.84%	3.14%	-1.30%

Volatility

JEPQ vs. QQQ - Volatility Comparison

The current volatility for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) is 5.91%, while Invesco QQQ ETF (QQQ) has a volatility of 6.82%. 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.

Volatility by Period

	JEPQ	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.91%	6.82%	-0.91%
Volatility (6M) Calculated over the trailing 6-month period	10.51%	12.75%	-2.24%
Volatility (1Y) Calculated over the trailing 1-year period	12.83%	17.03%	-4.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.88%	22.41%	-5.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.88%	22.26%	-5.38%

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 10.59%, more than QQQ's 0.45% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.59%	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	0.45%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%