JMHI vs. JEPQ

Last updated Jun 3, 2026

JMHI (JPMorgan High Yield Municipal ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - JMHI is a High Yield Muni fund actively managed by JPMorgan, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. JMHI is actively managed, while JEPQ is passively managed. Over the past year, JMHI returned 6.44% vs 29.60% for JEPQ. At a 0.13 correlation, their price movements are largely independent. Both charge a 0.35% expense ratio.

Performance

JMHI vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan High Yield Municipal ETF (JMHI) 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, JMHI achieves a 1.56% return, which is significantly lower than JEPQ's 9.65% return.

JMHI

• 1D: 0.05%
• 1M: 0.52%
• YTD: 1.56%
• 6M: 1.62%
• 1Y: 6.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: 0.26%
• 1M: 4.36%
• YTD: 9.65%
• 6M: 10.05%
• 1Y: 29.60%
• 3Y*: 20.96%
• 5Y*: —
• 10Y*: —

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

JMHI vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JMHI JPMorgan High Yield Municipal ETF	1.56%	4.60%	5.92%	1.43%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.65%	15.18%	24.85%	7.22%

Correlation

The correlation between JMHI and JEPQ is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (All Time) Calculated using the full available price history since Jul 18, 2023	0.13

JMHI vs. JEPQ - Sectors Allocation Comparison

Sectors	JMHI	JEPQ
Technology	29.0%	54.0%
Healthcare	14.5%	4.4%
Financial Services	12.3%	0.4%
Consumer Cyclical	10.6%	12.8%
Industrials	9.0%	3.1%
Communication Services	7.8%	15.4%
Consumer Defensive	5.2%	7.1%
Energy	4.9%	0.4%
Basic Materials	2.4%	1.0%
Real Estate	2.3%	0.2%
Utilities	2.2%	1.3%

Return for Risk

JMHI vs. JEPQ — Risk / Return Rank

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

JMHI

JMHI Risk / Return Rank: 54
JMHI Sharpe Ratio Rank: 58
JMHI Sortino Ratio Rank: 60
JMHI Omega Ratio Rank: 65
JMHI Calmar Ratio Rank: 42
JMHI Martin Ratio Rank: 45

JEPQ

JEPQ Risk / Return Rank: 77
JEPQ Sharpe Ratio Rank: 77
JEPQ Sortino Ratio Rank: 73
JEPQ Omega Ratio Rank: 82
JEPQ Calmar Ratio Rank: 68
JEPQ Martin Ratio Rank: 83

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.

JMHI vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan High Yield Municipal ETF (JMHI) 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.

	JMHI	JEPQ	Difference
Sharpe ratio Return per unit of total volatility	2.00	2.54	-0.54
Sortino ratio Return per unit of downside risk	2.88	3.35	-0.47
Omega ratio Gain probability vs. loss probability	1.40	1.50	-0.10
Calmar ratio Return relative to maximum drawdown	2.16	3.42	-1.26
Martin ratio Return relative to average drawdown	7.55	16.82	-9.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JMHI vs. JEPQ - Sharpe Ratio Comparison

The current JMHI Sharpe Ratio is 2.00, which is comparable to the JEPQ Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of JMHI 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.

Sharpe Ratios by Period

	JMHI	JEPQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.00	2.54	-0.54
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	1.01	+0.04

Drawdowns

JMHI vs. JEPQ - Drawdown Comparison

The maximum JMHI drawdown since its inception was -7.11%, smaller than the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for JMHI and JEPQ.

Drawdown Indicators

	JMHI	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-7.11%	-20.07%	+12.96%
Max Drawdown (1Y) Largest decline over 1 year	-2.93%	-8.82%	+5.89%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.07%	—
Current Drawdown Current decline from peak	-0.51%	0.00%	-0.51%
Average Drawdown Average peak-to-trough decline	-1.29%	-3.42%	+2.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.84%	1.79%	-0.95%

Volatility

JMHI vs. JEPQ - Volatility Comparison

The current volatility for JPMorgan High Yield Municipal ETF (JMHI) is 1.09%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 1.25%. This indicates that JMHI experiences smaller price fluctuations and is considered to be less risky than JEPQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JMHI	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.09%	1.25%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	2.33%	9.07%	-6.74%
Volatility (1Y) Calculated over the trailing 1-year period	3.24%	11.73%	-8.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.50%	16.62%	-12.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.50%	16.62%	-12.12%

JMHI vs. JEPQ - Expense Ratio Comparison

Both JMHI and JEPQ have an expense ratio of 0.35%.

Dividends

JMHI vs. JEPQ - Dividend Comparison

JMHI's dividend yield for the trailing twelve months is around 4.54%, less than JEPQ's 10.06% yield.

Position	TTM	2025	2024	2023	2022
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.06%	10.53%	9.65%	10.03%	9.44%
JMHI JPMorgan High Yield Municipal ETF	4.54%	4.42%	4.49%	2.48%	0.00%

Frequently Asked Questions

Can I hold both JMHI and JEPQ in my portfolio?

JMHI and JEPQ have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JMHI or JEPQ?

JEPQ has higher volatility (1.25%) compared to JMHI (1.09%). In terms of maximum drawdown, JMHI dropped -7.11% vs JEPQ's -20.07%.

Which ETF is better, JMHI or JEPQ?

On 1-year performance, JEPQ leads with 29.60% vs 6.44% for JMHI. Both ETFs have the same 0.35% expense ratio. On volatility, JMHI has been the lower-risk option at 1.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JMHI or JEPQ?

Over the 1-year period, JEPQ has performed better with a 29.60% return vs 6.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JMHI or JEPQ?

JMHI and JEPQ have the same expense ratio: 0.35% per year.

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

JEPQ has the higher dividend yield at 10.06%, compared with 4.54% for JMHI.

What is the main difference between JMHI and JEPQ?

JMHI is categorized as High Yield Muni, while JEPQ is Nasdaq-100.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.54 vs 2.00), 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.