JMHI vs. JEPQ

Last updated Apr 1, 2026

Compare and contrast key facts about JPMorgan High Yield Municipal ETF (JMHI) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ).

JMHI and JEPQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JMHI is an actively managed fund by JPMorgan. It was launched on Jul 14, 2023. JEPQ is a passively managed fund by JPMorgan that tracks the performance of the Nasdaq-100 Index. It was launched on May 3, 2022.

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.

JMHI vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JMHI JPMorgan High Yield Municipal ETF	-0.13%	4.60%	5.92%	1.43%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	-2.87%	15.18%	24.85%	7.22%

Returns By Period

In the year-to-date period, JMHI achieves a -0.13% return, which is significantly higher than JEPQ's -2.87% return.

JMHI

• 1D: 0.22%
• 1M: -2.17%
• YTD: -0.13%
• 6M: 0.89%
• 1Y: 3.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: 3.25%
• 1M: -3.50%
• YTD: -2.87%
• 6M: 1.65%
• 1Y: 19.82%
• 3Y*: 19.06%
• 5Y*: —
• 10Y*: —

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

JMHI vs. JEPQ - Expense Ratio Comparison

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

JMHI

JPMorgan High Yield Municipal ETF

JEPQ

JPMorgan Nasdaq Equity Premium Income ETF

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: 34
JMHI Sharpe Ratio Rank: 38
JMHI Sortino Ratio Rank: 31
JMHI Omega Ratio Rank: 38
JMHI Calmar Ratio Rank: 33
JMHI Martin Ratio Rank: 29

JEPQ

JEPQ Risk / Return Rank: 72
JEPQ Sharpe Ratio Rank: 65
JEPQ Sortino Ratio Rank: 68
JEPQ Omega Ratio Rank: 75
JEPQ Calmar Ratio Rank: 72
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.

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	0.74	1.07	-0.33
Sortino ratio Return per unit of downside risk	0.95	1.64	-0.69
Omega ratio Gain probability vs. loss probability	1.16	1.27	-0.11
Calmar ratio Return relative to maximum drawdown	0.87	1.70	-0.84
Martin ratio Return relative to average drawdown	2.52	8.45	-5.93
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 0.74, which is lower than the JEPQ Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of JMHI and JEPQ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	JMHI	JEPQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.74	1.07	-0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	0.82	+0.14

Correlation

The correlation between JMHI and JEPQ is 0.11, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

JMHI vs. JEPQ - Dividend Comparison

JMHI's dividend yield for the trailing twelve months is around 4.62%, less than JEPQ's 11.10% yield.

	TTM	2025	2024	2023	2022
JMHI JPMorgan High Yield Municipal ETF	4.62%	4.42%	4.49%	2.48%	0.00%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	11.10%	10.53%	9.65%	10.03%	9.44%

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	-3.97%	-11.58%	+7.61%
Current Drawdown Current decline from peak	-2.17%	-5.85%	+3.68%
Average Drawdown Average peak-to-trough decline	-1.29%	-3.55%	+2.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.37%	2.34%	-0.97%

Volatility

JMHI vs. JEPQ - Volatility Comparison

The current volatility for JPMorgan High Yield Municipal ETF (JMHI) is 1.44%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 6.02%. 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	1.44%	6.02%	-4.58%
Volatility (6M) Calculated over the trailing 6-month period	2.03%	10.47%	-8.44%
Volatility (1Y) Calculated over the trailing 1-year period	4.50%	18.52%	-14.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.55%	16.91%	-12.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.55%	16.91%	-12.36%