JMSI vs. JEPQ

Last updated Jun 4, 2026

JMSI (J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - JMSI is a Municipal Bonds fund actively managed by JPMorgan, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. JMSI is actively managed, while JEPQ is passively managed. Over the past year, JMSI returned 6.08% vs 29.00% for JEPQ. At a 0.13 correlation, their price movements are largely independent. JMSI charges 0.18%/yr vs 0.35%/yr for JEPQ.

Performance

JMSI vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund (JMSI) 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, JMSI achieves a 1.06% return, which is significantly lower than JEPQ's 9.54% return.

JMSI

• 1D: -0.13%
• 1M: 0.57%
• YTD: 1.06%
• 6M: 1.41%
• 1Y: 6.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: -0.10%
• 1M: 4.31%
• YTD: 9.54%
• 6M: 9.75%
• 1Y: 29.00%
• 3Y*: 20.92%
• 5Y*: —
• 10Y*: —

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

JMSI vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JMSI J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund	1.06%	4.40%	2.77%	2.70%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.54%	15.18%	24.85%	7.22%

Correlation

The correlation between JMSI and JEPQ is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (All Time) Calculated using the full available price history since Jul 18, 2023	0.13

JMSI vs. JEPQ - Sectors Allocation Comparison

Sectors	JMSI	JEPQ
Technology	36.9%	54.0%
Financial Services	11.7%	0.4%
Communication Services	10.4%	15.4%
Healthcare	9.8%	4.4%
Consumer Cyclical	9.5%	12.8%
Industrials	7.2%	3.1%
Consumer Defensive	4.7%	7.1%
Energy	3.9%	0.4%
Utilities	2.4%	1.3%
Basic Materials	1.8%	1.0%
Real Estate	1.8%	0.2%

Return for Risk

JMSI vs. JEPQ — Risk / Return Rank

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

JMSI

JMSI Risk / Return Rank: 58
JMSI Sharpe Ratio Rank: 64
JMSI Sortino Ratio Rank: 68
JMSI Omega Ratio Rank: 73
JMSI Calmar Ratio Rank: 42
JMSI Martin Ratio Rank: 44

JEPQ

JEPQ Risk / Return Rank: 74
JEPQ Sharpe Ratio Rank: 74
JEPQ Sortino Ratio Rank: 71
JEPQ Omega Ratio Rank: 80
JEPQ Calmar Ratio Rank: 65
JEPQ Martin Ratio Rank: 80

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.

JMSI vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund (JMSI) 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.

	JMSI	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	2.10	2.49	-0.39
Sortino ratio: Return per unit of downside risk	3.09	3.29	-0.20
Omega ratio: Gain probability vs. loss probability	1.43	1.49	-0.06
Calmar ratio: Return relative to maximum drawdown	2.05	3.31	-1.26
Martin ratio: Return relative to average drawdown	7.06	16.22	-9.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JMSI vs. JEPQ - Sharpe Ratio Comparison

The current JMSI Sharpe Ratio is 2.10, which is comparable to the JEPQ Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of JMSI 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

	JMSI	JEPQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.10	2.49	-0.39
Sharpe Ratio (All Time) Calculated using the full available price history	1.03	1.00	+0.02

Drawdowns

JMSI vs. JEPQ - Drawdown Comparison

The maximum JMSI drawdown since its inception was -4.57%, smaller than the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for JMSI and JEPQ.

Drawdown Indicators

	JMSI	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-4.57%	-20.07%	+15.50%
Max Drawdown (1Y) Largest decline over 1 year	-2.98%	-8.82%	+5.84%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.07%	—
Current Drawdown Current decline from peak	-0.87%	-0.10%	-0.77%
Average Drawdown Average peak-to-trough decline	-0.92%	-3.42%	+2.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	1.79%	-0.93%

Volatility

JMSI vs. JEPQ - Volatility Comparison

The current volatility for J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund (JMSI) is 0.96%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 1.26%. This indicates that JMSI 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

	JMSI	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.96%	1.26%	-0.30%
Volatility (6M) Calculated over the trailing 6-month period	2.20%	9.07%	-6.87%
Volatility (1Y) Calculated over the trailing 1-year period	2.91%	11.73%	-8.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.73%	16.61%	-12.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.73%	16.61%	-12.88%

JMSI vs. JEPQ - Expense Ratio Comparison

JMSI has a 0.18% expense ratio, which is lower than JEPQ's 0.35% expense ratio.

Dividends

JMSI vs. JEPQ - Dividend Comparison

JMSI's dividend yield for the trailing twelve months is around 3.65%, less than JEPQ's 10.07% yield.

Position	TTM	2025	2024	2023	2022
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.07%	10.53%	9.65%	10.03%	9.44%
JMSI J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund	3.65%	3.65%	3.66%	1.79%	0.00%

Frequently Asked Questions

Can I hold both JMSI and JEPQ in my portfolio?

JMSI and JEPQ have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JMSI or JEPQ?

JEPQ has higher volatility (1.26%) compared to JMSI (0.96%). In terms of maximum drawdown, JMSI dropped -4.57% vs JEPQ's -20.07%.

Which ETF is better, JMSI or JEPQ?

On 1-year performance, JEPQ leads with 29.00% vs 6.08% for JMSI. On fees, JMSI is cheaper at 0.18% per year. On volatility, JMSI has been the lower-risk option at 0.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JMSI or JEPQ?

Over the 1-year period, JEPQ has performed better with a 29.00% return vs 6.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JMSI or JEPQ?

JMSI is cheaper with a 0.18% expense ratio, compared with 0.35% for JEPQ.

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

JEPQ has the higher dividend yield at 10.07%, compared with 3.65% for JMSI.

What is the main difference between JMSI and JEPQ?

JMSI is categorized as Municipal Bonds, while JEPQ is Nasdaq-100. Their fees differ too: 0.18% for JMSI and 0.35% for JEPQ.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.49 vs 2.10), 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.