JPO vs. JPM

Last updated Jun 3, 2026

JPO (YieldMax JPM Option Income Strategy ETF) is Options Trading fund actively managed by Tidal, while JPM (JPMorgan Chase & Co.) is a stock. Over the past year, JPO returned 12.42% vs 15.93% for JPM. Their correlation of 0.87 suggests significant overlap in exposure.

Performance

JPO vs. JPM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax JPM Option Income Strategy ETF (JPO) and JPMorgan Chase & Co. (JPM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPO achieves a -4.00% return, which is significantly higher than JPM's -5.70% return.

JPO

• 1D: 1.66%
• 1M: -2.71%
• YTD: -4.00%
• 6M: -0.79%
• 1Y: 12.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JPM

• 1D: 1.48%
• 1M: -3.68%
• YTD: -5.70%
• 6M: -1.30%
• 1Y: 15.93%
• 3Y*: 31.89%
• 5Y*: 15.50%
• 10Y*: 19.77%

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

JPO vs. JPM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JPO YieldMax JPM Option Income Strategy ETF	-4.00%	22.26%	13.97%	5.08%
JPM JPMorgan Chase & Co.	-5.70%	37.27%	44.29%	17.09%

Correlation

The correlation between JPO and JPM is 0.90, 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	0.90
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	0.87

The correlation between JPO and JPM has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.

Return for Risk

JPO vs. JPM — Risk / Return Rank

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

JPO

JPO Risk / Return Rank: 20
JPO Sharpe Ratio Rank: 20
JPO Sortino Ratio Rank: 19
JPO Omega Ratio Rank: 20
JPO Calmar Ratio Rank: 20
JPO Martin Ratio Rank: 20

JPM

JPM Risk / Return Rank: 60
JPM Sharpe Ratio Rank: 64
JPM Sortino Ratio Rank: 56
JPM Omega Ratio Rank: 55
JPM Calmar Ratio Rank: 62
JPM Martin Ratio Rank: 63

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.

JPO vs. JPM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax JPM Option Income Strategy ETF (JPO) and JPMorgan Chase & Co. (JPM). 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.

	JPO	JPM	Difference
Sharpe ratio Return per unit of total volatility	0.67	0.75	-0.08
Sortino ratio Return per unit of downside risk	0.97	1.10	-0.13
Omega ratio Gain probability vs. loss probability	1.13	1.14	-0.01
Calmar ratio Return relative to maximum drawdown	0.91	1.05	-0.14
Martin ratio Return relative to average drawdown	2.29	2.52	-0.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPO vs. JPM - Sharpe Ratio Comparison

The current JPO Sharpe Ratio is 0.67, which is comparable to the JPM Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of JPO and JPM, 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

	JPO	JPM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.67	0.75	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.64	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.72	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.34	+0.37

Drawdowns

JPO vs. JPM - Drawdown Comparison

The maximum JPO drawdown since its inception was -24.80%, smaller than the maximum JPM drawdown of -76.16%. Use the drawdown chart below to compare losses from any high point for JPO and JPM.

Drawdown Indicators

	JPO	JPM	Difference
Max Drawdown Largest peak-to-trough decline	-24.80%	-76.16%	+51.36%
Max Drawdown (1Y) Largest decline over 1 year	-14.24%	-15.47%	+1.23%
Max Drawdown (3Y) Largest decline over 3 years	—	-24.42%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-38.77%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-43.63%	—
Current Drawdown Current decline from peak	-6.81%	-9.60%	+2.79%
Average Drawdown Average peak-to-trough decline	-4.59%	-17.63%	+13.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.68%	6.43%	-0.75%

Volatility

JPO vs. JPM - Volatility Comparison

The current volatility for YieldMax JPM Option Income Strategy ETF (JPO) is 6.13%, while JPMorgan Chase & Co. (JPM) has a volatility of 6.55%. This indicates that JPO experiences smaller price fluctuations and is considered to be less risky than JPM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPO	JPM	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.13%	6.55%	-0.42%
Volatility (6M) Calculated over the trailing 6-month period	15.19%	17.21%	-2.02%
Volatility (1Y) Calculated over the trailing 1-year period	18.63%	21.41%	-2.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.06%	24.41%	-5.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.06%	27.38%	-8.32%

Dividends

JPO vs. JPM - Dividend Comparison

JPO's dividend yield for the trailing twelve months is around 34.21%, more than JPM's 1.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JPM JPMorgan Chase & Co.	1.96%	1.72%	1.92%	2.38%	2.98%	2.34%	2.83%	2.37%	2.54%	1.91%	2.13%	2.54%
JPO YieldMax JPM Option Income Strategy ETF	34.21%	34.13%	25.15%	4.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JPO and JPM in my portfolio?

With a correlation of 0.90, JPO and JPM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, JPO or JPM?

JPM has higher volatility (6.55%) compared to JPO (6.13%). In terms of maximum drawdown, JPO dropped -24.80% vs JPM's -76.16%.

Which has better risk-adjusted returns?

JPM currently has the higher Sharpe Ratio (0.75 vs 0.67), 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.