JMTG vs. JEPQ

Last updated Jul 8, 2026

JMTG (JPMorgan Mortgage-Backed Securities ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - JMTG is a Mortgage Backed Securities fund actively managed by JPMorgan, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. JMTG is actively managed, while JEPQ is passively managed. Over the past year, JMTG returned 5.25% vs 22.27% for JEPQ. At a 0.24 correlation, their price movements are largely independent. JMTG charges 0.24%/yr vs 0.35%/yr for JEPQ.

Performance

JMTG vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Mortgage-Backed Securities ETF (JMTG) 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, JMTG achieves a 0.66% return, which is significantly lower than JEPQ's 8.00% return.

JMTG

• 1D: -0.46%
• 1M: 0.57%
• 6M: 0.62%
• YTD: 0.66%
• 1Y: 5.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: -1.40%
• 1M: 1.77%
• 6M: 6.62%
• YTD: 8.00%
• 1Y: 22.27%
• 3Y*: 19.45%
• 5Y*: —
• 10Y*: —

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

JMTG vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025
JMTG JPMorgan Mortgage-Backed Securities ETF	0.66%	3.94%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	8.00%	13.75%

Correlation

The correlation between JMTG and JEPQ is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (All Time) Calculated using the full available price history since Jun 30, 2025	0.24

Return for Risk

JMTG vs. JEPQ — Risk / Return Rank

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

JMTG

JMTG Risk / Return Rank: 46
JMTG Sharpe Ratio Rank: 49
JMTG Sortino Ratio Rank: 51
JMTG Omega Ratio Rank: 48
JMTG Calmar Ratio Rank: 44
JMTG Martin Ratio Rank: 40

JEPQ

JEPQ Risk / Return Rank: 63
JEPQ Sharpe Ratio Rank: 58
JEPQ Sortino Ratio Rank: 55
JEPQ Omega Ratio Rank: 64
JEPQ Calmar Ratio Rank: 61
JEPQ Martin Ratio Rank: 76

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.

JMTG vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Mortgage-Backed Securities ETF (JMTG) 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.

	JMTG	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	1.43	1.65	-0.22
Sortino ratio: Return per unit of downside risk	2.13	2.24	-0.11
Omega ratio: Gain probability vs. loss probability	1.26	1.32	-0.06
Calmar ratio: Return relative to maximum drawdown	1.90	2.54	-0.64
Martin ratio: Return relative to average drawdown	5.34	11.78	-6.44

JMTG vs. JEPQ - Sharpe Ratio Comparison

The current JMTG Sharpe Ratio is 1.43, which is comparable to the JEPQ Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of JMTG 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

JMTG vs. JEPQ - Drawdown Comparison

The maximum JMTG drawdown since its inception was -2.78%, smaller than the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for JMTG and JEPQ.

Drawdown Indicators

	JMTG	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-2.78%	-20.07%	+17.29%
Max Drawdown (1Y) Largest decline over 1 year	-2.78%	-8.82%	+6.04%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.07%	—
Current Drawdown Current decline from peak	-1.59%	-2.47%	+0.88%
Average Drawdown Average peak-to-trough decline	-0.73%	-3.38%	+2.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	1.90%	-0.91%

Volatility

JMTG vs. JEPQ - Volatility Comparison

The current volatility for JPMorgan Mortgage-Backed Securities ETF (JMTG) is 1.25%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 7.33%. This indicates that JMTG 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

	JMTG	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.25%	7.33%	-6.08%
Volatility (6M) Calculated over the trailing 6-month period	2.88%	11.15%	-8.27%
Volatility (1Y) Calculated over the trailing 1-year period	3.68%	13.57%	-9.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.71%	16.83%	-13.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.71%	16.83%	-13.12%

JMTG vs. JEPQ - Expense Ratio Comparison

JMTG has a 0.24% expense ratio, which is lower than JEPQ's 0.35% expense ratio.

Dividends

JMTG vs. JEPQ - Dividend Comparison

JMTG's dividend yield for the trailing twelve months is around 4.31%, less than JEPQ's 10.56% yield.

Position	TTM	2025	2024	2023	2022
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.56%	10.53%	9.65%	10.03%	9.44%
JMTG JPMorgan Mortgage-Backed Securities ETF	4.31%	2.10%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JMTG and JEPQ in my portfolio?

JMTG and JEPQ have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JMTG or JEPQ?

JEPQ has higher volatility (7.33%) compared to JMTG (1.25%). In terms of maximum drawdown, JMTG dropped -2.78% vs JEPQ's -20.07%.

Which ETF is better, JMTG or JEPQ?

On 1-year performance, JEPQ leads with 22.27% vs 5.25% for JMTG. On fees, JMTG is cheaper at 0.24% per year. On volatility, JMTG has been the lower-risk option at 1.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JMTG or JEPQ?

Over the 1-year period, JEPQ has performed better with a 22.27% return vs 5.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JMTG or JEPQ?

JMTG is cheaper with a 0.24% expense ratio, compared with 0.35% for JEPQ.

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

JEPQ has the higher dividend yield at 10.56%, compared with 4.31% for JMTG.

What is the main difference between JMTG and JEPQ?

JMTG is categorized as Mortgage Backed Securities, while JEPQ is Nasdaq-100. Their fees differ too: 0.24% for JMTG and 0.35% for JEPQ.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (1.65 vs 1.43), 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.