JEPQ vs. USD=X

Last updated Jun 13, 2026

JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) is Nasdaq-100 fund tracking the Nasdaq-100 Index, while USD=X (USD Cash) is a currency. Over the past 3 years, JEPQ returned 19.91%/yr vs 0.00%/yr for USD=X.

Performance

JEPQ vs. USD=X - Performance Comparison

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

Returns By Period

JEPQ

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

USD=X

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 0.00%
• 3Y*: 0.00%
• 5Y*: 0.00%
• 10Y*: 0.00%

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

JEPQ vs. USD=X - 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%
USD=X USD Cash	0.00%	0.00%	0.00%	0.00%	0.00%

Return for Risk

JEPQ vs. USD=X — 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

USD=X

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. USD=X - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and USD Cash (USD=X). 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	USD=X	Difference
Sharpe ratio: Return per unit of total volatility	2.03	—	—
Sortino ratio: Return per unit of downside risk	2.69	—	—
Omega ratio: Gain probability vs. loss probability	1.40	—	—
Calmar ratio: Return relative to maximum drawdown	2.91	—	—
Martin ratio: Return relative to average drawdown	13.84	—	—

Drawdowns

JEPQ vs. USD=X - Drawdown Comparison

The maximum JEPQ drawdown since its inception was -20.07%, which is greater than USD=X's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for JEPQ and USD=X.

Drawdown Indicators

	JEPQ	USD=X	Difference
Max Drawdown Largest peak-to-trough decline	-20.07%	0.00%	-20.07%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	0.00%	-8.82%
Max Drawdown (3Y) Largest decline over 3 years	-20.07%	0.00%	-20.07%
Max Drawdown (5Y) Largest decline over 5 years	—	0.00%	—
Max Drawdown (10Y) Largest decline over 10 years	—	0.00%	—
Current Drawdown Current decline from peak	-1.64%	0.00%	-1.64%
Average Drawdown Average peak-to-trough decline	-3.41%	0.00%	-3.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	0.00%	+1.85%

Volatility

JEPQ vs. USD=X - Volatility Comparison

JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a higher volatility of 4.98% compared to USD Cash (USD=X) at 0.00%. This indicates that JEPQ's price experiences larger fluctuations and is considered to be riskier than USD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEPQ	USD=X	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.98%	0.00%	+4.98%
Volatility (6M) Calculated over the trailing 6-month period	10.22%	0.00%	+10.22%
Volatility (1Y) Calculated over the trailing 1-year period	12.61%	0.00%	+12.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.73%	0.00%	+16.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.73%	0.00%	+16.73%

Frequently Asked Questions

Which is riskier, JEPQ or USD=X?

JEPQ has higher volatility (4.98%) compared to USD=X (0.00%). In terms of maximum drawdown, JEPQ dropped -20.07% vs USD=X's 0.00%.