JVAL vs. JEPQ

Last updated Aug 4, 2026

JVAL (JPMorgan U.S. Value Factor ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - JVAL is a Large Cap Value Equities fund tracking the JP Morgan US Value Factor Index, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Both are passively managed. Over the past 3 years, JVAL returned 19.42%/yr vs 18.60%/yr for JEPQ. Their 0.78 correlation means they have sometimes moved together and sometimes differently. JVAL charges 0.12%/yr vs 0.35%/yr for JEPQ.

Performance

JVAL vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan U.S. Value Factor ETF (JVAL) 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, JVAL achieves a 19.89% return, which is significantly higher than JEPQ's 7.51% return.

JVAL

• 1D: 1.20%
• 1M: 1.02%
• 6M: 14.82%
• YTD: 19.89%
• 1Y: 34.83%
• 3Y*: 19.42%
• 5Y*: 12.53%
• 10Y*: —
• ALL TIME*: 12.96%

JEPQ

• 1D: 1.38%
• 1M: -0.56%
• 6M: 4.41%
• YTD: 7.51%
• 1Y: 21.24%
• 3Y*: 18.60%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.90%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	$489.18M	$434.68M	$428.59M
JVAL JPMorgan U.S. Value Factor ETF	$2.04M	$2.35M	$3.17M

JVAL vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JVAL JPMorgan U.S. Value Factor ETF	19.89%	16.16%	14.53%	19.48%	-4.61%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.51%	15.18%	24.85%	36.28%	-11.16%

Correlation

The correlation between JVAL and JEPQ is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.78
Correlation (3Y) Balances recent behavior with more history.	0.74
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.78

The correlation between JVAL and JEPQ has been stable across timeframes, ranging from 0.74 to 0.78 - a consistent structural relationship.

JVAL vs. JEPQ - Sectors Allocation Comparison

Sectors	JVAL	JEPQ
Technology	39.9%	60.6%
Financial Services	10.8%	0.3%
Healthcare	10.0%	4.0%
Consumer Cyclical	9.5%	11.1%
Communication Services	8.4%	12.8%
Industrials	7.8%	3.0%
Energy	3.6%	0.3%
Consumer Defensive	2.6%	5.8%
Utilities	2.5%	1.0%
Basic Materials	2.2%	0.9%
Real Estate	1.8%	0.2%

Return for Risk

JVAL vs. JEPQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JVAL

JVAL Risk / Return Rank: 91
JVAL Sharpe Ratio Rank: 92
JVAL Sortino Ratio Rank: 90
JVAL Omega Ratio Rank: 89
JVAL Calmar Ratio Rank: 91
JVAL Martin Ratio Rank: 92

JEPQ

JEPQ Risk / Return Rank: 66
JEPQ Sharpe Ratio Rank: 61
JEPQ Sortino Ratio Rank: 59
JEPQ Omega Ratio Rank: 64
JEPQ Calmar Ratio Rank: 69
JEPQ Martin Ratio Rank: 77

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JVAL vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan U.S. Value Factor ETF (JVAL) 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.

	JVAL	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	2.40	1.46	+0.94
Sortino ratio: Return per unit of downside risk	3.28	2.04	+1.24
Omega ratio: Gain probability vs. loss probability	1.42	1.28	+0.14
Calmar ratio: Return relative to maximum drawdown	4.13	2.42	+1.71
Martin ratio: Return relative to average drawdown	16.01	9.91	+6.10

JVAL vs. JEPQ - Sharpe Ratio Comparison

The current JVAL Sharpe Ratio is 2.40, which is higher than the JEPQ Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of JVAL 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

JVAL vs. JEPQ - Drawdown Comparison

The maximum JVAL drawdown since its inception was -40.42%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for JVAL and JEPQ.

Drawdown Indicators

	JVAL	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-40.42%	-20.07%	-20.35%
Max Drawdown (1Y) Largest decline over 1 year	-8.48%	-8.82%	+0.34%
Max Drawdown (3Y) Largest decline over 3 years	-20.07%	-20.07%	0.00%
Max Drawdown (5Y) Largest decline over 5 years	-22.39%	—	—
Current Drawdown Current decline from peak	-0.39%	-2.91%	+2.52%
Average Drawdown Average peak-to-trough decline	-5.23%	-3.38%	-1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.18%	2.15%	+0.03%

Volatility

JVAL vs. JEPQ - Volatility Comparison

The current volatility for JPMorgan U.S. Value Factor ETF (JVAL) is 3.32%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 6.14%. This indicates that JVAL 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

	JVAL	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.32%	6.14%	-2.82%
Volatility (6M) Calculated over the trailing 6-month period	11.14%	12.20%	-1.06%
Volatility (1Y) Calculated over the trailing 1-year period	14.58%	14.64%	-0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.20%	16.90%	+0.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.76%	16.90%	+2.86%

JVAL vs. JEPQ - Expense Ratio Comparison

JVAL has a 0.12% expense ratio, which is lower than JEPQ's 0.35% expense ratio.

Dividends

JVAL vs. JEPQ - Dividend Comparison

JVAL's dividend yield for the trailing twelve months is around 1.63%, less than JEPQ's 11.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	11.18%	10.53%	9.65%	10.03%	9.44%	0.00%	0.00%	0.00%	0.00%	0.00%
JVAL JPMorgan U.S. Value Factor ETF	1.63%	2.08%	2.21%	2.43%	2.46%	1.88%	2.55%	2.58%	2.61%	0.45%

Frequently Asked Questions

Can I hold both JVAL and JEPQ in my portfolio?

JVAL and JEPQ have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JVAL or JEPQ?

JEPQ has higher volatility (6.14%) compared to JVAL (3.32%). In terms of maximum drawdown, JVAL dropped -40.42% vs JEPQ's -20.07%.

Which ETF is better, JVAL or JEPQ?

On 3-year performance, JVAL leads with 19.42% vs 18.60% for JEPQ. On fees, JVAL is cheaper at 0.12% per year. On volatility, JVAL has been the lower-risk option at 3.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JVAL or JEPQ?

Over the 3-year period, JVAL has performed better with a 19.42% return vs 18.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JVAL or JEPQ?

JVAL is cheaper with a 0.12% expense ratio, compared with 0.35% for JEPQ.

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

JEPQ has the higher dividend yield at 11.18%, compared with 1.63% for JVAL.

What is the main difference between JVAL and JEPQ?

JVAL is categorized as Large Cap Value Equities, while JEPQ is Nasdaq-100. JVAL tracks JP Morgan US Value Factor Index, while JEPQ tracks Nasdaq-100 Index. Their fees differ too: 0.12% for JVAL and 0.35% for JEPQ.

Which has better risk-adjusted returns?

JVAL currently has the higher Sharpe Ratio (2.40 vs 1.46), 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.