JPEQ.AX vs. SPUS

Last updated Jun 4, 2026

JPEQ.AX (JPMorgan US 100Q Equity Premium Income Active ETF) and SPUS (SP Funds S&P 500 Sharia Industry Exclusions ETF) are both exchange-traded funds - JPEQ.AX is a Derivative Income fund actively managed by JPMorgan, while SPUS is a S&P 500 fund tracking the S&P 500 Shariah Industry Exclusions Index. JPEQ.AX is actively managed, while SPUS is passively managed. Over the past 3 years, JPEQ.AX returned 15.63%/yr vs 21.76%/yr for SPUS. At a 0.09 correlation, their price movements are largely independent.

Performance

JPEQ.AX vs. SPUS - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in JPMorgan US 100Q Equity Premium Income Active ETF (JPEQ.AX) and SP Funds S&P 500 Sharia Industry Exclusions ETF (SPUS). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

JPEQ.AX is traded in AUD, while SPUS is traded in USD. To make them comparable, the SPUS values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, JPEQ.AX achieves a 0.43% return, which is significantly lower than SPUS's 8.41% return.

JPEQ.AX

• 1D: -0.33%
• 1M: 4.11%
• YTD: 0.43%
• 6M: -0.21%
• 1Y: 14.35%
• 3Y*: 15.63%
• 5Y*: —
• 10Y*: —

SPUS

• 1D: -0.40%
• 1M: 10.08%
• YTD: 8.41%
• 6M: 6.68%
• 1Y: 27.19%
• 3Y*: 21.76%
• 5Y*: 19.41%
• 10Y*: —

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

JPEQ.AX vs. SPUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JPEQ.AX JPMorgan US 100Q Equity Premium Income Active ETF	0.43%	4.62%	36.45%	10.03%
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF	8.41%	11.08%	39.22%	12.46%

Correlation

The correlation between JPEQ.AX and SPUS is 0.04, 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 (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (All Time) Calculated using the full available price history since May 24, 2023	0.09

Return for Risk

JPEQ.AX vs. SPUS — Risk / Return Rank

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

JPEQ.AX

JPEQ.AX Risk / Return Rank: 32
JPEQ.AX Sharpe Ratio Rank: 35
JPEQ.AX Sortino Ratio Rank: 34
JPEQ.AX Omega Ratio Rank: 35
JPEQ.AX Calmar Ratio Rank: 30
JPEQ.AX Martin Ratio Rank: 28

SPUS

SPUS Risk / Return Rank: 81
SPUS Sharpe Ratio Rank: 85
SPUS Sortino Ratio Rank: 83
SPUS Omega Ratio Rank: 80
SPUS Calmar Ratio Rank: 74
SPUS Martin Ratio Rank: 81

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.

JPEQ.AX vs. SPUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan US 100Q Equity Premium Income Active ETF (JPEQ.AX) and SP Funds S&P 500 Sharia Industry Exclusions ETF (SPUS). 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.

	JPEQ.AX	SPUS	Difference
Sharpe ratio: Return per unit of total volatility	1.30	2.31	-1.01
Sortino ratio: Return per unit of downside risk	1.83	3.16	-1.33
Omega ratio: Gain probability vs. loss probability	1.24	1.42	-0.18
Calmar ratio: Return relative to maximum drawdown	1.48	1.96	-0.48
Martin ratio: Return relative to average drawdown	4.00	5.41	-1.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPEQ.AX vs. SPUS - Sharpe Ratio Comparison

The current JPEQ.AX Sharpe Ratio is 1.30, which is lower than the SPUS Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of JPEQ.AX and SPUS, 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

	JPEQ.AX	SPUS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.30	2.31	-1.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	0.99	+0.08

Drawdowns

JPEQ.AX vs. SPUS - Drawdown Comparison

The maximum JPEQ.AX drawdown since its inception was -18.42%, smaller than the maximum SPUS drawdown of -24.26%. Use the drawdown chart below to compare losses from any high point for JPEQ.AX and SPUS.

Drawdown Indicators

	JPEQ.AX	SPUS	Difference
Max Drawdown Largest peak-to-trough decline	-18.42%	-24.26%	+5.84%
Max Drawdown (1Y) Largest decline over 1 year	-9.59%	-13.90%	+4.31%
Max Drawdown (3Y) Largest decline over 3 years	-18.42%	-22.17%	+3.75%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.26%	—
Current Drawdown Current decline from peak	-0.72%	-0.40%	-0.32%
Average Drawdown Average peak-to-trough decline	-3.03%	-5.53%	+2.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.57%	5.04%	-1.47%

Volatility

JPEQ.AX vs. SPUS - Volatility Comparison

The current volatility for JPMorgan US 100Q Equity Premium Income Active ETF (JPEQ.AX) is 1.63%, while SP Funds S&P 500 Sharia Industry Exclusions ETF (SPUS) has a volatility of 2.92%. This indicates that JPEQ.AX experiences smaller price fluctuations and is considered to be less risky than SPUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPEQ.AX	SPUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.63%	2.92%	-1.29%
Volatility (6M) Calculated over the trailing 6-month period	8.36%	9.06%	-0.70%
Volatility (1Y) Calculated over the trailing 1-year period	10.96%	11.87%	-0.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.05%	16.83%	-1.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.05%	18.93%	-3.88%

Dividends

JPEQ.AX vs. SPUS - Dividend Comparison

JPEQ.AX's dividend yield for the trailing twelve months is around 9.09%, more than SPUS's 0.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
JPEQ.AX JPMorgan US 100Q Equity Premium Income Active ETF	9.09%	9.00%	7.40%	4.88%	0.00%	0.00%	0.00%
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF	0.52%	0.60%	0.70%	0.87%	1.21%	1.15%	1.04%

Frequently Asked Questions

Can I hold both JPEQ.AX and SPUS in my portfolio?

JPEQ.AX and SPUS have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between JPEQ.AX and SPUS?

JPEQ.AX is categorized as Derivative Income, while SPUS is S&P 500. They also come from different issuers: JPMorgan and SP Funds.