JUSA vs. JEPQ

Last updated Jun 6, 2026

JUSA (JPMorgan U.S. Research Enhanced Large Cap ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - JUSA is a Large Cap Blend Equities fund actively managed by JPMorgan, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. JUSA is actively managed, while JEPQ is passively managed. Over the past year, JUSA returned 24.65% vs 25.16% for JEPQ. Their correlation of 0.91 suggests significant overlap in exposure. JUSA charges 0.20%/yr vs 0.35%/yr for JEPQ.

Performance

JUSA vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan U.S. Research Enhanced Large Cap ETF (JUSA) 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, JUSA achieves a 7.68% return, which is significantly higher than JEPQ's 6.12% return.

JUSA

• 1D: -2.43%
• 1M: -0.02%
• YTD: 7.68%
• 6M: 7.58%
• 1Y: 24.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: -3.01%
• 1M: 0.08%
• YTD: 6.12%
• 6M: 5.89%
• 1Y: 25.16%
• 3Y*: 19.56%
• 5Y*: —
• 10Y*: —

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

JUSA vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025
JUSA JPMorgan U.S. Research Enhanced Large Cap ETF	7.68%	21.69%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	6.12%	21.41%

Correlation

The correlation between JUSA and JEPQ is 0.92, 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	0.92
Correlation (All Time) Calculated using the full available price history since Mar 17, 2025	0.91

The correlation between JUSA and JEPQ has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

JUSA vs. JEPQ - Sectors Allocation Comparison

Sectors	JUSA	JEPQ
Technology	35.6%	54.0%
Financial Services	11.7%	0.4%
Consumer Cyclical	11.1%	12.8%
Communication Services	11.0%	15.4%
Healthcare	8.5%	4.4%
Industrials	8.3%	3.1%
Consumer Defensive	4.3%	7.1%
Energy	3.5%	0.4%
Utilities	2.4%	1.3%
Real Estate	1.9%	0.2%
Basic Materials	1.9%	1.0%

Return for Risk

JUSA vs. JEPQ — Risk / Return Rank

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

JUSA

JUSA Risk / Return Rank: 66
JUSA Sharpe Ratio Rank: 67
JUSA Sortino Ratio Rank: 65
JUSA Omega Ratio Rank: 67
JUSA Calmar Ratio Rank: 60
JUSA Martin Ratio Rank: 73

JEPQ

JEPQ Risk / Return Rank: 65
JEPQ Sharpe Ratio Rank: 64
JEPQ Sortino Ratio Rank: 58
JEPQ Omega Ratio Rank: 71
JEPQ Calmar Ratio Rank: 59
JEPQ Martin Ratio Rank: 75

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.

JUSA vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan U.S. Research Enhanced Large Cap ETF (JUSA) 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.

	JUSA	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	2.05	2.09	-0.03
Sortino ratio: Return per unit of downside risk	2.81	2.73	+0.08
Omega ratio: Gain probability vs. loss probability	1.37	1.41	-0.04
Calmar ratio: Return relative to maximum drawdown	2.77	2.87	-0.10
Martin ratio: Return relative to average drawdown	12.73	13.99	-1.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JUSA vs. JEPQ - Sharpe Ratio Comparison

The current JUSA Sharpe Ratio is 2.05, which is comparable to the JEPQ Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of JUSA 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

	JUSA	JEPQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.05	2.09	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	1.32	0.94	+0.37

Drawdowns

JUSA vs. JEPQ - Drawdown Comparison

The maximum JUSA drawdown since its inception was -14.02%, smaller than the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for JUSA and JEPQ.

Drawdown Indicators

	JUSA	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-14.02%	-20.07%	+6.05%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-8.82%	-0.11%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.07%	—
Current Drawdown Current decline from peak	-2.81%	-3.22%	+0.41%
Average Drawdown Average peak-to-trough decline	-1.51%	-3.42%	+1.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	1.80%	+0.14%

Volatility

JUSA vs. JEPQ - Volatility Comparison

JPMorgan U.S. Research Enhanced Large Cap ETF (JUSA) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) have volatilities of 3.53% and 3.44%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JUSA	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	3.44%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	9.30%	9.59%	-0.29%
Volatility (1Y) Calculated over the trailing 1-year period	12.08%	12.13%	-0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.79%	16.66%	+2.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.79%	16.66%	+2.13%

JUSA vs. JEPQ - Expense Ratio Comparison

JUSA has a 0.20% expense ratio, which is lower than JEPQ's 0.35% expense ratio.

Dividends

JUSA vs. JEPQ - Dividend Comparison

JUSA's dividend yield for the trailing twelve months is around 0.88%, less than JEPQ's 10.39% yield.

Position	TTM	2025	2024	2023	2022
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.39%	10.53%	9.65%	10.03%	9.44%
JUSA JPMorgan U.S. Research Enhanced Large Cap ETF	0.88%	0.77%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JUSA and JEPQ in my portfolio?

With a correlation of 0.92, JUSA and JEPQ 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, JUSA or JEPQ?

JUSA has higher volatility (3.53%) compared to JEPQ (3.44%). In terms of maximum drawdown, JUSA dropped -14.02% vs JEPQ's -20.07%.

Which ETF is better, JUSA or JEPQ?

On 1-year performance, JEPQ leads with 25.16% vs 24.65% for JUSA. On fees, JUSA is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JUSA or JEPQ?

Over the 1-year period, JEPQ has performed better with a 25.16% return vs 24.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JUSA or JEPQ?

JUSA is cheaper with a 0.20% expense ratio, compared with 0.35% for JEPQ.

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

JEPQ has the higher dividend yield at 10.39%, compared with 0.88% for JUSA.

What is the main difference between JUSA and JEPQ?

JUSA is categorized as Large Cap Blend Equities, while JEPQ is Nasdaq-100. Their fees differ too: 0.20% for JUSA and 0.35% for JEPQ.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.08 vs 2.05), 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.