JFLX vs. JEPQ

Last updated Jul 12, 2026

JFLX (JPMorgan Flexible Debt ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - JFLX is a Nontraditional Bonds fund actively managed by JPMorgan, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. JFLX is actively managed, while JEPQ is passively managed. A 0.59 correlation means they provide meaningful diversification when combined. JFLX charges 0.45%/yr vs 0.35%/yr for JEPQ.

Performance

JFLX vs. JEPQ - Performance Comparison

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

Returns By Period

In the year-to-date period, JFLX achieves a 2.20% return, which is significantly lower than JEPQ's 10.16% return.

JFLX

• 1D: 0.14%
• 1M: 0.07%
• 6M: 1.78%
• YTD: 2.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: 0.45%
• 1M: 2.14%
• 6M: 8.23%
• YTD: 10.16%
• 1Y: 23.97%
• 3Y*: 20.16%
• 5Y*: —
• 10Y*: —

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

JFLX vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025
JFLX JPMorgan Flexible Debt ETF	2.20%	1.48%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.16%	5.15%

Correlation

The correlation between JFLX and JEPQ is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 29, 2025	0.59

Return for Risk

JFLX vs. JEPQ — Risk / Return Rank

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

JFLX

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

JEPQ

JEPQ Risk / Return Rank: 71
JEPQ Sharpe Ratio Rank: 68
JEPQ Sortino Ratio Rank: 64
JEPQ Omega Ratio Rank: 73
JEPQ Calmar Ratio Rank: 69
JEPQ Martin Ratio Rank: 81

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.

JFLX vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Flexible Debt ETF (JFLX) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). 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.

	JFLX	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	—	1.77	—
Sortino ratio: Return per unit of downside risk	—	2.39	—
Omega ratio: Gain probability vs. loss probability	—	1.34	—
Calmar ratio: Return relative to maximum drawdown	—	2.73	—
Martin ratio: Return relative to average drawdown	—	12.63	—

Drawdowns

JFLX vs. JEPQ - Drawdown Comparison

The maximum JFLX drawdown since its inception was -2.36%, smaller than the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for JFLX and JEPQ.

Drawdown Indicators

	JFLX	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-2.36%	-20.07%	+17.71%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.82%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-20.07%	—
Current Drawdown Current decline from peak	-0.20%	-0.52%	+0.32%
Average Drawdown Average peak-to-trough decline	-0.37%	-3.38%	+3.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.90%	—

Volatility

Volatility by Period

	JFLX	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.56%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.20%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.62%	13.62%	-11.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.62%	16.81%	-14.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.62%	16.81%	-14.19%

JFLX vs. JEPQ - Expense Ratio Comparison

JFLX has a 0.45% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

JFLX vs. JEPQ - Dividend Comparison

JFLX's dividend yield for the trailing twelve months is around 3.61%, less than JEPQ's 10.35% yield.

Position	TTM	2025	2024	2023	2022
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.35%	10.53%	9.65%	10.03%	9.44%
JFLX JPMorgan Flexible Debt ETF	3.61%	1.27%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JFLX and JEPQ in my portfolio?

JFLX and JEPQ have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JFLX or JEPQ?

On fees, JEPQ is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JFLX or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.45% for JFLX.

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

JEPQ has the higher dividend yield at 10.35%, compared with 3.61% for JFLX.

What is the main difference between JFLX and JEPQ?

JFLX is categorized as Nontraditional Bonds, while JEPQ is Nasdaq-100. Their fees differ too: 0.45% for JFLX and 0.35% for JEPQ.