JEPQ vs. QYLD

Last updated Jun 23, 2026

JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both Nasdaq-100 funds - JEPQ tracks the Nasdaq-100 Index while QYLD tracks the CBOE NASDAQ-100 Buy Write V2. Both are passively managed. Over the past 3 years, JEPQ returned 20.80%/yr vs 14.74%/yr for QYLD. Their correlation of 0.91 suggests significant overlap in exposure. JEPQ charges 0.35%/yr vs 0.60%/yr for QYLD.

Performance

JEPQ vs. QYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and Global X NASDAQ 100 Covered Call ETF (QYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JEPQ achieves a 10.59% return, which is significantly higher than QYLD's 10.06% return.

JEPQ

• 1D: 0.07%
• 1M: 2.89%
• YTD: 10.59%
• 6M: 10.22%
• 1Y: 29.42%
• 3Y*: 20.80%
• 5Y*: —
• 10Y*: —

QYLD

• 1D: -0.13%
• 1M: 3.44%
• YTD: 10.06%
• 6M: 10.12%
• 1Y: 25.81%
• 3Y*: 14.74%
• 5Y*: 8.73%
• 10Y*: 10.21%

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

JEPQ vs. QYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.59%	15.18%	24.85%	36.28%	-11.16%
QYLD Global X NASDAQ 100 Covered Call ETF	10.06%	9.28%	19.35%	22.77%	-12.22%

Correlation

The correlation between JEPQ and QYLD is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.91

The correlation between JEPQ and QYLD has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

JEPQ vs. QYLD - Sectors Allocation Comparison

Sectors	JEPQ	QYLD
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%

Return for Risk

JEPQ vs. QYLD — Risk / Return Rank

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

JEPQ

JEPQ Risk / Return Rank: 75
JEPQ Sharpe Ratio Rank: 75
JEPQ Sortino Ratio Rank: 70
JEPQ Omega Ratio Rank: 80
JEPQ Calmar Ratio Rank: 69
JEPQ Martin Ratio Rank: 82

QYLD

QYLD Risk / Return Rank: 91
QYLD Sharpe Ratio Rank: 87
QYLD Sortino Ratio Rank: 89
QYLD Omega Ratio Rank: 93
QYLD Calmar Ratio Rank: 90
QYLD Martin Ratio Rank: 95

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. QYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and Global X NASDAQ 100 Covered Call ETF (QYLD). 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	QYLD	Difference
Sharpe ratio: Return per unit of total volatility	2.30	2.73	-0.43
Sortino ratio: Return per unit of downside risk	3.05	3.88	-0.83
Omega ratio: Gain probability vs. loss probability	1.46	1.61	-0.16
Calmar ratio: Return relative to maximum drawdown	3.35	5.22	-1.87
Martin ratio: Return relative to average drawdown	15.94	29.38	-13.44

JEPQ vs. QYLD - Sharpe Ratio Comparison

The current JEPQ Sharpe Ratio is 2.30, which is comparable to the QYLD Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of JEPQ and QYLD, 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. QYLD - Drawdown Comparison

The maximum JEPQ drawdown since its inception was -20.07%, smaller than the maximum QYLD drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for JEPQ and QYLD.

Drawdown Indicators

	JEPQ	QYLD	Difference
Max Drawdown Largest peak-to-trough decline	-20.07%	-24.75%	+4.68%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	-4.97%	-3.85%
Max Drawdown (3Y) Largest decline over 3 years	-20.07%	-19.06%	-1.01%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.61%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-24.75%	—
Current Drawdown Current decline from peak	0.00%	-0.13%	+0.13%
Average Drawdown Average peak-to-trough decline	-3.40%	-3.82%	+0.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	0.88%	+0.97%

Volatility

JEPQ vs. QYLD - Volatility Comparison

JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a higher volatility of 5.68% compared to Global X NASDAQ 100 Covered Call ETF (QYLD) at 4.26%. This indicates that JEPQ's price experiences larger fluctuations and is considered to be riskier than QYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEPQ	QYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.68%	4.26%	+1.42%
Volatility (6M) Calculated over the trailing 6-month period	10.33%	8.24%	+2.09%
Volatility (1Y) Calculated over the trailing 1-year period	12.85%	9.50%	+3.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.75%	14.81%	+1.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.75%	15.55%	+1.20%

JEPQ vs. QYLD - Expense Ratio Comparison

JEPQ has a 0.35% expense ratio, which is lower than QYLD's 0.60% expense ratio.

Dividends

JEPQ vs. QYLD - Dividend Comparison

JEPQ's dividend yield for the trailing twelve months is around 9.97%, less than QYLD's 12.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.97%	10.53%	9.65%	10.03%	9.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QYLD Global X NASDAQ 100 Covered Call ETF	12.36%	11.55%	12.50%	11.78%	13.75%	12.85%	11.16%	9.84%	12.44%	7.69%	9.15%	9.42%

Frequently Asked Questions

Can I hold both JEPQ and QYLD in my portfolio?

With a correlation of 0.90, JEPQ and QYLD 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.

Which is riskier, JEPQ or QYLD?

JEPQ has higher volatility (5.68%) compared to QYLD (4.26%). In terms of maximum drawdown, JEPQ dropped -20.07% vs QYLD's -24.75%.

Which ETF is better, JEPQ or QYLD?

On 3-year performance, JEPQ leads with 20.80% vs 14.74% for QYLD. On fees, JEPQ is cheaper at 0.35% per year. On volatility, QYLD has been the lower-risk option at 4.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JEPQ or QYLD?

Over the 3-year period, JEPQ has performed better with a 20.80% return vs 14.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEPQ or QYLD?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.60% for QYLD.

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

QYLD has the higher dividend yield at 12.36%, compared with 9.97% for JEPQ.

What is the main difference between JEPQ and QYLD?

JEPQ tracks Nasdaq-100 Index, while QYLD tracks CBOE NASDAQ-100 Buy Write V2. They also come from different issuers: JPMorgan and Global X. Their fees differ too: 0.35% for JEPQ and 0.60% for QYLD.

Which has better risk-adjusted returns?

QYLD currently has the higher Sharpe Ratio (2.73 vs 2.30), 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.