JEPQ vs. VOE

Last updated Jun 13, 2026

JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) and VOE (Vanguard Mid-Cap Value ETF) are both exchange-traded funds - JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index, while VOE is a Mid Cap Value Equities fund tracking the CRSP US Mid Cap Value Index. Both are passively managed. Over the past 3 years, JEPQ returned 19.91%/yr vs 16.04%/yr for VOE. A 0.59 correlation means they provide meaningful diversification when combined. JEPQ charges 0.35%/yr vs 0.05%/yr for VOE.

Performance

JEPQ vs. VOE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and Vanguard Mid-Cap Value ETF (VOE). 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 lower than VOE's 12.81% return.

JEPQ

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

VOE

• 1D: 1.10%
• 1M: 3.67%
• YTD: 12.81%
• 6M: 11.83%
• 1Y: 24.24%
• 3Y*: 16.04%
• 5Y*: 8.93%
• 10Y*: 10.92%

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

JEPQ vs. VOE - 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%
VOE Vanguard Mid-Cap Value ETF	12.81%	12.08%	14.00%	9.85%	-4.33%

Correlation

The correlation between JEPQ and VOE is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.59

The correlation between JEPQ and VOE shifts across timeframes, from 0.46 (1 year) to 0.59 (all time), reflecting how their relationship changes across market environments.

JEPQ vs. VOE - Sectors Allocation Comparison

Sectors	JEPQ	VOE
Technology	54.0%	10.9%
Communication Services	15.4%	2.2%
Consumer Cyclical	12.8%	5.7%
Consumer Defensive	7.1%	7.9%
Healthcare	4.4%	6.3%
Industrials	3.1%	14.0%
Utilities	1.3%	12.1%
Basic Materials	1.0%	5.8%
Energy	0.4%	12.8%
Financial Services	0.4%	16.5%
Real Estate	0.2%	6.0%

Return for Risk

JEPQ vs. VOE — 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

VOE

VOE Risk / Return Rank: 77
VOE Sharpe Ratio Rank: 76
VOE Sortino Ratio Rank: 78
VOE Omega Ratio Rank: 72
VOE Calmar Ratio Rank: 78
VOE Martin Ratio Rank: 79

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. VOE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and Vanguard Mid-Cap Value ETF (VOE). 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	VOE	Difference
Sharpe ratio: Return per unit of total volatility	2.03	2.10	-0.06
Sortino ratio: Return per unit of downside risk	2.69	3.01	-0.32
Omega ratio: Gain probability vs. loss probability	1.40	1.36	+0.04
Calmar ratio: Return relative to maximum drawdown	2.91	3.52	-0.61
Martin ratio: Return relative to average drawdown	13.84	13.34	+0.50

JEPQ vs. VOE - Sharpe Ratio Comparison

The current JEPQ Sharpe Ratio is 2.03, which is comparable to the VOE Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of JEPQ and VOE, 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. VOE - Drawdown Comparison

The maximum JEPQ drawdown since its inception was -20.07%, smaller than the maximum VOE drawdown of -61.50%. Use the drawdown chart below to compare losses from any high point for JEPQ and VOE.

Drawdown Indicators

	JEPQ	VOE	Difference
Max Drawdown Largest peak-to-trough decline	-20.07%	-61.50%	+41.43%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	-6.93%	-1.89%
Max Drawdown (3Y) Largest decline over 3 years	-20.07%	-18.45%	-1.62%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.70%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-43.18%	—
Current Drawdown Current decline from peak	-1.64%	0.00%	-1.64%
Average Drawdown Average peak-to-trough decline	-3.41%	-8.34%	+4.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	1.83%	+0.02%

Volatility

JEPQ vs. VOE - Volatility Comparison

JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a higher volatility of 4.98% compared to Vanguard Mid-Cap Value ETF (VOE) at 3.19%. This indicates that JEPQ's price experiences larger fluctuations and is considered to be riskier than VOE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEPQ	VOE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.98%	3.19%	+1.79%
Volatility (6M) Calculated over the trailing 6-month period	10.22%	8.30%	+1.92%
Volatility (1Y) Calculated over the trailing 1-year period	12.61%	11.63%	+0.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.73%	16.06%	+0.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.73%	18.83%	-2.10%

JEPQ vs. VOE - Expense Ratio Comparison

JEPQ has a 0.35% expense ratio, which is higher than VOE's 0.05% expense ratio.

Dividends

JEPQ vs. VOE - Dividend Comparison

JEPQ's dividend yield for the trailing twelve months is around 10.22%, more than VOE's 1.84% 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%
VOE Vanguard Mid-Cap Value ETF	1.84%	2.10%	2.11%	2.27%	2.27%	1.78%	2.36%	2.05%	2.75%	1.86%	1.92%	2.05%

Frequently Asked Questions

Can I hold both JEPQ and VOE in my portfolio?

JEPQ and VOE have a correlation of 0.46, 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 VOE?

JEPQ has higher volatility (4.98%) compared to VOE (3.19%). In terms of maximum drawdown, JEPQ dropped -20.07% vs VOE's -61.50%.

Which ETF is better, JEPQ or VOE?

On 3-year performance, JEPQ leads with 19.91% vs 16.04% for VOE. On fees, VOE is cheaper at 0.05% per year. On volatility, VOE has been the lower-risk option at 3.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JEPQ or VOE?

Over the 3-year period, JEPQ has performed better with a 19.91% return vs 16.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEPQ or VOE?

VOE is cheaper with a 0.05% expense ratio, compared with 0.35% for JEPQ.

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

JEPQ has the higher dividend yield at 10.22%, compared with 1.84% for VOE.

What is the main difference between JEPQ and VOE?

JEPQ is categorized as Nasdaq-100, while VOE is Mid Cap Value Equities. JEPQ tracks Nasdaq-100 Index, while VOE tracks CRSP US Mid Cap Value Index. They also come from different issuers: JPMorgan and Vanguard. Their fees differ too: 0.35% for JEPQ and 0.05% for VOE.

Which has better risk-adjusted returns?

VOE currently has the higher Sharpe Ratio (2.10 vs 2.03), 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.