JEPQ vs. SHLD

Last updated Jun 14, 2026

JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Both are passively managed. Over the past year, JEPQ returned 26.60% vs 8.26% for SHLD. At a 0.37 correlation, their price movements are largely independent. JEPQ charges 0.35%/yr vs 0.50%/yr for SHLD.

Performance

JEPQ vs. SHLD - 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 Defense Tech ETF (SHLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JEPQ achieves a 7.85% return, which is significantly higher than SHLD's -1.50% return.

JEPQ

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

SHLD

• 1D: -2.04%
• 1M: 2.37%
• YTD: -1.50%
• 6M: -1.03%
• 1Y: 8.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JEPQ vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.85%	15.18%	24.85%	7.04%
SHLD Global X Defense Tech ETF	-1.50%	74.16%	35.03%	12.89%

Correlation

The correlation between JEPQ and SHLD is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	0.37

JEPQ vs. SHLD - Sectors Allocation Comparison

Sectors	JEPQ	SHLD
Technology	58.9%	12.2%
Communication Services	13.9%	-
Consumer Cyclical	11.8%	-
Consumer Defensive	6.0%	-
Healthcare	3.9%	-
Industrials	2.8%	87.8%
Utilities	1.1%	-
Basic Materials	0.9%	-
Financial Services	0.3%	-
Energy	0.3%	-
Real Estate	0.2%	-

Return for Risk

JEPQ vs. SHLD — 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: 73
JEPQ Sortino Ratio Rank: 69
JEPQ Omega Ratio Rank: 79
JEPQ Calmar Ratio Rank: 66
JEPQ Martin Ratio Rank: 81

SHLD

SHLD Risk / Return Rank: 16
SHLD Sharpe Ratio Rank: 17
SHLD Sortino Ratio Rank: 17
SHLD Omega Ratio Rank: 16
SHLD Calmar Ratio Rank: 16
SHLD Martin Ratio Rank: 16

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. SHLD - 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 Defense Tech ETF (SHLD). 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	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	2.03	0.43	+1.61
Sortino ratio: Return per unit of downside risk	2.69	0.78	+1.91
Omega ratio: Gain probability vs. loss probability	1.40	1.09	+0.31
Calmar ratio: Return relative to maximum drawdown	2.91	0.52	+2.39
Martin ratio: Return relative to average drawdown	13.84	1.28	+12.55

JEPQ vs. SHLD - Sharpe Ratio Comparison

The current JEPQ Sharpe Ratio is 2.03, which is higher than the SHLD Sharpe Ratio of 0.43. The chart below compares the historical Sharpe Ratios of JEPQ and SHLD, 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. SHLD - Drawdown Comparison

The maximum JEPQ drawdown since its inception was -20.07%, roughly equal to the maximum SHLD drawdown of -20.10%. Use the drawdown chart below to compare losses from any high point for JEPQ and SHLD.

Drawdown Indicators

	JEPQ	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-20.07%	-20.10%	+0.03%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	-20.10%	+11.28%
Max Drawdown (3Y) Largest decline over 3 years	-20.07%	—	—
Current Drawdown Current decline from peak	-1.64%	-18.20%	+16.56%
Average Drawdown Average peak-to-trough decline	-3.41%	-3.34%	-0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	8.12%	-6.27%

Volatility

JEPQ vs. SHLD - Volatility Comparison

The current volatility for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) is 4.98%, while Global X Defense Tech ETF (SHLD) has a volatility of 9.05%. This indicates that JEPQ experiences smaller price fluctuations and is considered to be less risky than SHLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEPQ	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.98%	9.05%	-4.07%
Volatility (6M) Calculated over the trailing 6-month period	10.22%	19.94%	-9.72%
Volatility (1Y) Calculated over the trailing 1-year period	12.61%	24.55%	-11.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.73%	21.29%	-4.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.73%	21.29%	-4.56%

JEPQ vs. SHLD - Expense Ratio Comparison

JEPQ has a 0.35% expense ratio, which is lower than SHLD's 0.50% expense ratio.

Dividends

JEPQ vs. SHLD - Dividend Comparison

JEPQ's dividend yield for the trailing twelve months is around 10.22%, more than SHLD's 0.56% yield.

Position	TTM	2025	2024	2023	2022
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.22%	10.53%	9.65%	10.03%	9.44%
SHLD Global X Defense Tech ETF	0.56%	0.55%	0.53%	0.26%	0.00%

Frequently Asked Questions

Can I hold both JEPQ and SHLD in my portfolio?

JEPQ and SHLD have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JEPQ or SHLD?

SHLD has higher volatility (9.05%) compared to JEPQ (4.98%). In terms of maximum drawdown, JEPQ dropped -20.07% vs SHLD's -20.10%.

Which ETF is better, JEPQ or SHLD?

On 1-year performance, JEPQ leads with 26.60% vs 8.26% for SHLD. On fees, JEPQ is cheaper at 0.35% 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.

Which ETF has performed better, JEPQ or SHLD?

Over the 1-year period, JEPQ has performed better with a 26.60% return vs 8.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEPQ or SHLD?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.50% for SHLD.

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

JEPQ has the higher dividend yield at 10.22%, compared with 0.56% for SHLD.

What is the main difference between JEPQ and SHLD?

JEPQ is categorized as Nasdaq-100, while SHLD is Aerospace & Defense. JEPQ tracks Nasdaq-100 Index, while SHLD tracks Global X Defense Tech Index. They also come from different issuers: JPMorgan and Global X. Their fees differ too: 0.35% for JEPQ and 0.50% for SHLD.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.03 vs 0.43), 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.