JMMF vs. JEPQ

Last updated Jun 3, 2026

JMMF (JPMorgan 100% U.S. Treasury Securities Money Market ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - JMMF is a Money Market fund actively managed by JPMorgan, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. JMMF is actively managed, while JEPQ is passively managed. At a 0.02 correlation, their price movements are largely independent. JMMF charges 0.16%/yr vs 0.35%/yr for JEPQ.

Performance

JMMF vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan 100% U.S. Treasury Securities Money Market ETF (JMMF) 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, JMMF achieves a 1.42% return, which is significantly lower than JEPQ's 9.65% return.

JMMF

• 1D: 0.02%
• 1M: 0.29%
• YTD: 1.42%
• 6M: —
• 1Y: —
• 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)

JMMF vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025
JMMF JPMorgan 100% U.S. Treasury Securities Money Market ETF	1.42%	0.17%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.65%	-0.50%

Correlation

The correlation between JMMF and JEPQ is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 12, 2025	0.02

Return for Risk

JMMF vs. JEPQ — Risk / Return Rank

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

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.

JMMF vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan 100% U.S. Treasury Securities Money Market ETF (JMMF) 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.

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

Sharpe Ratios by Period

	JMMF	JEPQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.54	—
Sharpe Ratio (All Time) Calculated using the full available price history	6.42	1.01	+5.41

Drawdowns

JMMF vs. JEPQ - Drawdown Comparison

The maximum JMMF drawdown since its inception was -0.14%, smaller than the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for JMMF and JEPQ.

Drawdown Indicators

	JMMF	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-0.14%	-20.07%	+19.93%
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	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.01%	-3.42%	+3.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.79%	—

Volatility

Volatility by Period

	JMMF	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.25%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.07%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.54%	11.73%	-11.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.54%	16.62%	-16.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.54%	16.62%	-16.08%

JMMF vs. JEPQ - Expense Ratio Comparison

JMMF has a 0.16% expense ratio, which is lower than JEPQ's 0.35% expense ratio.

Dividends

JMMF vs. JEPQ - Dividend Comparison

JMMF's dividend yield for the trailing twelve months is around 1.59%, 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%
JMMF JPMorgan 100% U.S. Treasury Securities Money Market ETF	1.59%	0.20%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JMMF and JEPQ in my portfolio?

JMMF and JEPQ have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JMMF or JEPQ?

On fees, JMMF is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JMMF or JEPQ?

JMMF is cheaper with a 0.16% expense ratio, compared with 0.35% for JEPQ.

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

JEPQ has the higher dividend yield at 10.06%, compared with 1.59% for JMMF.

What is the main difference between JMMF and JEPQ?

JMMF is categorized as Money Market, while JEPQ is Nasdaq-100. Their fees differ too: 0.16% for JMMF and 0.35% for JEPQ.