JPEF vs. JEPQ

Last updated Jun 24, 2026

JPEF (JPMorgan Equity Focus ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - JPEF is a Large Cap Blend Equities fund actively managed by JPMorgan, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. JPEF is actively managed, while JEPQ is passively managed. Over the past year, JPEF returned 16.18% vs 25.10% for JEPQ. Their correlation of 0.89 suggests significant overlap in exposure. JPEF charges 0.50%/yr vs 0.35%/yr for JEPQ.

Performance

JPEF vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Focus ETF (JPEF) 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, JPEF achieves a 5.24% return, which is significantly lower than JEPQ's 7.85% return.

JPEF

• 1D: -1.55%
• 1M: -1.55%
• YTD: 5.24%
• 6M: 4.30%
• 1Y: 16.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: -2.48%
• 1M: 0.34%
• YTD: 7.85%
• 6M: 7.02%
• 1Y: 25.10%
• 3Y*: 19.79%
• 5Y*: —
• 10Y*: —

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

JPEF vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JPEF JPMorgan Equity Focus ETF	5.24%	12.07%	28.19%	5.70%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.85%	15.18%	24.85%	6.40%

Correlation

The correlation between JPEF and JEPQ is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jul 31, 2023	0.89

The correlation between JPEF and JEPQ has been stable across timeframes, ranging from 0.88 to 0.89 - a consistent structural relationship.

JPEF vs. JEPQ - Sectors Allocation Comparison

Sectors	JPEF	JEPQ
Technology	33.2%	58.9%
Financial Services	13.2%	0.3%
Consumer Cyclical	11.7%	11.8%
Communication Services	11.3%	13.9%
Industrials	9.2%	2.8%
Healthcare	8.0%	3.9%
Energy	4.7%	0.3%
Utilities	2.5%	1.1%
Real Estate	2.5%	0.2%
Basic Materials	2.1%	0.9%
Consumer Defensive	1.9%	6.0%

Return for Risk

JPEF vs. JEPQ — Risk / Return Rank

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

JPEF

JPEF Risk / Return Rank: 43
JPEF Sharpe Ratio Rank: 41
JPEF Sortino Ratio Rank: 39
JPEF Omega Ratio Rank: 41
JPEF Calmar Ratio Rank: 41
JPEF Martin Ratio Rank: 52

JEPQ

JEPQ Risk / Return Rank: 63
JEPQ Sharpe Ratio Rank: 60
JEPQ Sortino Ratio Rank: 55
JEPQ Omega Ratio Rank: 66
JEPQ Calmar Ratio Rank: 60
JEPQ Martin Ratio Rank: 74

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.

JPEF vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Focus ETF (JPEF) 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.

	JPEF	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	1.35	1.93	-0.58
Sortino ratio: Return per unit of downside risk	1.92	2.57	-0.64
Omega ratio: Gain probability vs. loss probability	1.25	1.38	-0.13
Calmar ratio: Return relative to maximum drawdown	1.97	2.86	-0.89
Martin ratio: Return relative to average drawdown	8.51	13.55	-5.04

JPEF vs. JEPQ - Sharpe Ratio Comparison

The current JPEF Sharpe Ratio is 1.35, which is lower than the JEPQ Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of JPEF 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

JPEF vs. JEPQ - Drawdown Comparison

The maximum JPEF drawdown since its inception was -18.09%, smaller than the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for JPEF and JEPQ.

Drawdown Indicators

	JPEF	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-18.09%	-20.07%	+1.98%
Max Drawdown (1Y) Largest decline over 1 year	-8.25%	-8.82%	+0.57%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.07%	—
Current Drawdown Current decline from peak	-3.17%	-2.48%	-0.69%
Average Drawdown Average peak-to-trough decline	-2.15%	-3.40%	+1.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	1.86%	+0.05%

Volatility

JPEF vs. JEPQ - Volatility Comparison

The current volatility for JPMorgan Equity Focus ETF (JPEF) is 4.67%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 6.27%. This indicates that JPEF 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

	JPEF	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.67%	6.27%	-1.60%
Volatility (6M) Calculated over the trailing 6-month period	9.55%	10.58%	-1.03%
Volatility (1Y) Calculated over the trailing 1-year period	12.06%	13.08%	-1.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.11%	16.79%	-1.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.11%	16.79%	-1.68%

JPEF vs. JEPQ - Expense Ratio Comparison

JPEF has a 0.50% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

JPEF vs. JEPQ - Dividend Comparison

JPEF's dividend yield for the trailing twelve months is around 0.67%, less than JEPQ's 10.22% yield.

Position	TTM	2025	2024	2023	2022
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.22%	10.53%	9.65%	10.03%	9.44%
JPEF JPMorgan Equity Focus ETF	0.67%	0.70%	0.71%	0.39%	0.00%

Frequently Asked Questions

Can I hold both JPEF and JEPQ in my portfolio?

JPEF and JEPQ have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPEF or JEPQ?

JEPQ has higher volatility (6.27%) compared to JPEF (4.67%). In terms of maximum drawdown, JPEF dropped -18.09% vs JEPQ's -20.07%.

Which ETF is better, JPEF or JEPQ?

On 1-year performance, JEPQ leads with 25.10% vs 16.18% for JPEF. On fees, JEPQ is cheaper at 0.35% per year. On volatility, JPEF has been the lower-risk option at 4.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPEF or JEPQ?

Over the 1-year period, JEPQ has performed better with a 25.10% return vs 16.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPEF or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.50% for JPEF.

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

JEPQ has the higher dividend yield at 10.22%, compared with 0.67% for JPEF.

What is the main difference between JPEF and JEPQ?

JPEF is categorized as Large Cap Blend Equities, while JEPQ is Nasdaq-100. Their fees differ too: 0.50% for JPEF and 0.35% for JEPQ.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (1.93 vs 1.35), 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.