JIGAX vs. JEPQ

Last updated Jun 23, 2026

JIGAX (JPMorgan U.S. GARP Equity Fund Class A) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both funds - JIGAX is a Large Cap Growth Equities fund managed by JPMorgan, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Over the past 3 years, JIGAX returned 25.97%/yr vs 20.80%/yr for JEPQ. With a 0.95 correlation, they move nearly in lockstep. JIGAX charges 0.84%/yr vs 0.35%/yr for JEPQ.

Performance

JIGAX vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan U.S. GARP Equity Fund Class A (JIGAX) 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, JIGAX achieves a 6.25% return, which is significantly lower than JEPQ's 10.59% return.

JIGAX

• 1D: 1.25%
• 1M: -0.61%
• YTD: 6.25%
• 6M: 5.80%
• 1Y: 26.60%
• 3Y*: 25.97%
• 5Y*: 16.26%
• 10Y*: 18.11%

JEPQ

• 1D: 0.07%
• 1M: 2.89%
• YTD: 10.59%
• 6M: 10.22%
• 1Y: 29.42%
• 3Y*: 20.80%
• 5Y*: —
• 10Y*: —

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

JIGAX vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JIGAX JPMorgan U.S. GARP Equity Fund Class A	6.25%	20.26%	39.76%	41.67%	-12.40%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.59%	15.18%	24.85%	36.28%	-11.16%

Correlation

The correlation between JIGAX and JEPQ is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.95

The correlation between JIGAX and JEPQ has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

Return for Risk

JIGAX vs. JEPQ — Risk / Return Rank

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

JIGAX

JIGAX Risk / Return Rank: 31
JIGAX Sharpe Ratio Rank: 36
JIGAX Sortino Ratio Rank: 33
JIGAX Omega Ratio Rank: 34
JIGAX Calmar Ratio Rank: 26
JIGAX Martin Ratio Rank: 28

JEPQ

JEPQ Risk / Return Rank: 75
JEPQ Sharpe Ratio Rank: 75
JEPQ Sortino Ratio Rank: 70
JEPQ Omega Ratio Rank: 80
JEPQ Calmar Ratio Rank: 69
JEPQ Martin Ratio Rank: 82

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.

JIGAX vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan U.S. GARP Equity Fund Class A (JIGAX) 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.

	JIGAX	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	1.63	2.30	-0.68
Sortino ratio: Return per unit of downside risk	2.21	3.05	-0.84
Omega ratio: Gain probability vs. loss probability	1.29	1.46	-0.17
Calmar ratio: Return relative to maximum drawdown	1.77	3.35	-1.58
Martin ratio: Return relative to average drawdown	6.17	15.94	-9.78

JIGAX vs. JEPQ - Sharpe Ratio Comparison

The current JIGAX Sharpe Ratio is 1.63, which is comparable to the JEPQ Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of JIGAX and JEPQ, 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

JIGAX vs. JEPQ - Drawdown Comparison

The maximum JIGAX drawdown since its inception was -52.99%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for JIGAX and JEPQ.

Drawdown Indicators

	JIGAX	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-52.99%	-20.07%	-32.92%
Max Drawdown (1Y) Largest decline over 1 year	-14.66%	-8.82%	-5.84%
Max Drawdown (3Y) Largest decline over 3 years	-23.10%	-20.07%	-3.03%
Max Drawdown (5Y) Largest decline over 5 years	-31.33%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-31.36%	—	—
Current Drawdown Current decline from peak	-3.23%	0.00%	-3.23%
Average Drawdown Average peak-to-trough decline	-7.78%	-3.40%	-4.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.21%	1.85%	+2.36%

Volatility

JIGAX vs. JEPQ - Volatility Comparison

JPMorgan U.S. GARP Equity Fund Class A (JIGAX) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) have volatilities of 5.82% and 5.68%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JIGAX	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.82%	5.68%	+0.14%
Volatility (6M) Calculated over the trailing 6-month period	12.52%	10.33%	+2.19%
Volatility (1Y) Calculated over the trailing 1-year period	15.97%	12.85%	+3.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.97%	16.75%	+4.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.70%	16.75%	+3.95%

JIGAX vs. JEPQ - Expense Ratio Comparison

JIGAX has a 0.84% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

JIGAX vs. JEPQ - Dividend Comparison

JIGAX's dividend yield for the trailing twelve months is around 7.15%, less than JEPQ's 9.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.97%	10.53%	9.65%	10.03%	9.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JIGAX JPMorgan U.S. GARP Equity Fund Class A	7.15%	7.60%	11.35%	0.73%	4.16%	21.76%	9.65%	12.81%	12.35%	0.45%	0.62%	0.64%

Frequently Asked Questions

Can I hold both JIGAX and JEPQ in my portfolio?

With a correlation of 0.91, JIGAX and JEPQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, JIGAX or JEPQ?

JIGAX has higher volatility (5.82%) compared to JEPQ (5.68%). In terms of maximum drawdown, JIGAX dropped -52.99% vs JEPQ's -20.07%.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.30 vs 1.63), 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.