JEPQ vs. T

Last updated Jun 9, 2026

JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) is Nasdaq-100 fund tracking the Nasdaq-100 Index, while T (AT&T Inc.) is a stock. Over the past 3 years, JEPQ returned 20.04%/yr vs 18.39%/yr for T. At a 0.07 correlation, their price movements are largely independent.

Performance

JEPQ vs. T - Performance Comparison

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

Returns By Period

In the year-to-date period, JEPQ achieves a 7.44% return, which is significantly higher than T's -7.40% return.

JEPQ

• 1D: 1.24%
• 1M: 0.97%
• YTD: 7.44%
• 6M: 7.26%
• 1Y: 25.85%
• 3Y*: 20.04%
• 5Y*: —
• 10Y*: —

T

• 1D: -1.10%
• 1M: -10.57%
• YTD: -7.40%
• 6M: -7.40%
• 1Y: -16.38%
• 3Y*: 18.39%
• 5Y*: 6.60%
• 10Y*: 2.86%

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

JEPQ vs. T - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.44%	15.18%	24.85%	36.28%	-12.89%
T AT&T Inc.	-7.40%	13.97%	44.08%	-2.74%	-4.83%

Correlation

The correlation between JEPQ and T is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.19
Correlation (3Y) Calculated over the trailing 3-year period	-0.09
Correlation (All Time) Calculated using the full available price history since May 5, 2022	0.07

The correlation between JEPQ and T shifts across timeframes, from -0.19 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.

Return for Risk

JEPQ vs. T — Risk / Return Rank

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

JEPQ

JEPQ Risk / Return Rank: 73
JEPQ Sharpe Ratio Rank: 73
JEPQ Sortino Ratio Rank: 68
JEPQ Omega Ratio Rank: 79
JEPQ Calmar Ratio Rank: 65
JEPQ Martin Ratio Rank: 80

T

T Risk / Return Rank: 11
T Sharpe Ratio Rank: 11
T Sortino Ratio Rank: 12
T Omega Ratio Rank: 13
T Calmar Ratio Rank: 14
T Martin Ratio Rank: 4

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. T - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and AT&T Inc. (T). 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	T	Difference
Sharpe ratio: Return per unit of total volatility	2.13	-0.75	+2.88
Sortino ratio: Return per unit of downside risk	2.79	-0.98	+3.77
Omega ratio: Gain probability vs. loss probability	1.42	0.89	+0.54
Calmar ratio: Return relative to maximum drawdown	2.95	-0.75	+3.70
Martin ratio: Return relative to average drawdown	14.33	-1.59	+15.92
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. T - Sharpe Ratio Comparison

The current JEPQ Sharpe Ratio is 2.13, which is higher than the T Sharpe Ratio of -0.75. The chart below compares the historical Sharpe Ratios of JEPQ and T, 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	T	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	-0.75	+2.88
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.28	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.12	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	0.38	+0.59

Drawdowns

JEPQ vs. T - Drawdown Comparison

The maximum JEPQ drawdown since its inception was -20.07%, smaller than the maximum T drawdown of -64.15%. Use the drawdown chart below to compare losses from any high point for JEPQ and T.

Drawdown Indicators

	JEPQ	T	Difference
Max Drawdown Largest peak-to-trough decline	-20.07%	-64.15%	+44.08%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	-21.87%	+13.05%
Max Drawdown (3Y) Largest decline over 3 years	-20.07%	-21.87%	+1.80%
Max Drawdown (5Y) Largest decline over 5 years	—	-32.01%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.35%	—
Current Drawdown Current decline from peak	-2.02%	-21.87%	+19.85%
Average Drawdown Average peak-to-trough decline	-3.42%	-15.72%	+12.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.81%	10.34%	-8.53%

Volatility

JEPQ vs. T - Volatility Comparison

The current volatility for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) is 3.65%, while AT&T Inc. (T) has a volatility of 7.50%. This indicates that JEPQ experiences smaller price fluctuations and is considered to be less risky than T based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEPQ	T	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.65%	7.50%	-3.85%
Volatility (6M) Calculated over the trailing 6-month period	9.66%	17.57%	-7.91%
Volatility (1Y) Calculated over the trailing 1-year period	12.19%	21.98%	-9.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.67%	23.97%	-7.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.67%	23.71%	-7.04%

Dividends

JEPQ vs. T - Dividend Comparison

JEPQ's dividend yield for the trailing twelve months is around 10.26%, more than T's 4.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.26%	10.53%	9.65%	10.03%	9.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
T AT&T Inc.	4.93%	4.47%	4.87%	6.62%	6.66%	8.46%	7.23%	5.22%	7.01%	5.04%	4.51%	5.46%

Frequently Asked Questions

Can I hold both JEPQ and T in my portfolio?

JEPQ and T have a correlation of -0.19, 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 T?

T has higher volatility (7.50%) compared to JEPQ (3.65%). In terms of maximum drawdown, JEPQ dropped -20.07% vs T's -64.15%.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.13 vs -0.75), 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.