JEPQ vs. TRRIX

Last updated Jun 13, 2026

JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and TRRIX (T. Rowe Price Retirement Balanced Fund) are both funds - JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index, while TRRIX is a Diversified Portfolio fund managed by T. Rowe Price. Over the past 3 years, JEPQ returned 19.91%/yr vs 10.52%/yr for TRRIX. A 0.76 correlation means they provide meaningful diversification when combined. JEPQ charges 0.35%/yr vs 0.49%/yr for TRRIX.

Performance

JEPQ vs. TRRIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and T. Rowe Price Retirement Balanced Fund (TRRIX). 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 TRRIX's 4.46% return.

JEPQ

• 1D: 0.62%
• 1M: 0.88%
• YTD: 7.85%
• 6M: 8.80%
• 1Y: 25.53%
• 3Y*: 19.91%
• 5Y*: —
• 10Y*: —

TRRIX

• 1D: 1.04%
• 1M: 0.03%
• YTD: 4.46%
• 6M: 5.00%
• 1Y: 11.14%
• 3Y*: 10.52%
• 5Y*: 4.83%
• 10Y*: 6.61%

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

JEPQ vs. TRRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.85%	15.18%	24.85%	36.28%	-11.16%
TRRIX T. Rowe Price Retirement Balanced Fund	4.46%	11.02%	9.96%	11.57%	-4.88%

Correlation

The correlation between JEPQ and TRRIX is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.76

The correlation between JEPQ and TRRIX has been stable across timeframes, ranging from 0.71 to 0.76 - a consistent structural relationship.

Return for Risk

JEPQ vs. TRRIX — 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

TRRIX

TRRIX Risk / Return Rank: 67
TRRIX Sharpe Ratio Rank: 66
TRRIX Sortino Ratio Rank: 69
TRRIX Omega Ratio Rank: 72
TRRIX Calmar Ratio Rank: 60
TRRIX Martin Ratio Rank: 65

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. TRRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and T. Rowe Price Retirement Balanced Fund (TRRIX). 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	TRRIX	Difference
Sharpe ratio: Return per unit of total volatility	2.03	1.89	+0.14
Sortino ratio: Return per unit of downside risk	2.69	2.74	-0.04
Omega ratio: Gain probability vs. loss probability	1.40	1.37	+0.03
Calmar ratio: Return relative to maximum drawdown	2.91	2.43	+0.48
Martin ratio: Return relative to average drawdown	13.84	10.06	+3.78

JEPQ vs. TRRIX - Sharpe Ratio Comparison

The current JEPQ Sharpe Ratio is 2.03, which is comparable to the TRRIX Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of JEPQ and TRRIX, 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. TRRIX - Drawdown Comparison

The maximum JEPQ drawdown since its inception was -20.07%, smaller than the maximum TRRIX drawdown of -27.77%. Use the drawdown chart below to compare losses from any high point for JEPQ and TRRIX.

Drawdown Indicators

	JEPQ	TRRIX	Difference
Max Drawdown Largest peak-to-trough decline	-20.07%	-27.77%	+7.70%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	-4.85%	-3.97%
Max Drawdown (3Y) Largest decline over 3 years	-20.07%	-6.10%	-13.97%
Max Drawdown (5Y) Largest decline over 5 years	—	-18.13%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-18.57%	—
Current Drawdown Current decline from peak	-1.64%	-0.95%	-0.69%
Average Drawdown Average peak-to-trough decline	-3.41%	-2.83%	-0.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	1.16%	+0.69%

Volatility

JEPQ vs. TRRIX - Volatility Comparison

JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a higher volatility of 4.98% compared to T. Rowe Price Retirement Balanced Fund (TRRIX) at 2.45%. This indicates that JEPQ's price experiences larger fluctuations and is considered to be riskier than TRRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEPQ	TRRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.98%	2.45%	+2.53%
Volatility (6M) Calculated over the trailing 6-month period	10.22%	5.24%	+4.98%
Volatility (1Y) Calculated over the trailing 1-year period	12.61%	6.24%	+6.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.73%	7.15%	+9.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.73%	7.24%	+9.49%

JEPQ vs. TRRIX - Expense Ratio Comparison

JEPQ has a 0.35% expense ratio, which is lower than TRRIX's 0.49% expense ratio.

Dividends

JEPQ vs. TRRIX - Dividend Comparison

JEPQ's dividend yield for the trailing twelve months is around 10.22%, more than TRRIX's 4.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
TRRIX T. Rowe Price Retirement Balanced Fund	4.68%	4.86%	5.78%	4.32%	10.15%	12.67%	9.27%	3.39%	7.01%	5.07%	3.40%	3.44%

Frequently Asked Questions

Can I hold both JEPQ and TRRIX in my portfolio?

JEPQ and TRRIX have a correlation of 0.71, 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 TRRIX?

JEPQ has higher volatility (4.98%) compared to TRRIX (2.45%). In terms of maximum drawdown, JEPQ dropped -20.07% vs TRRIX's -27.77%.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.03 vs 1.89), 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.