LQDW vs. JEPI
LQDW (iShares Investment Grade Corporate Bond Buywrite Strategy ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - LQDW is a Corporate Bonds fund tracking the CBOE LQD BuyWrite Index, while JEPI is a Dividend fund actively managed by JPMorgan. LQDW is passively managed, while JEPI is actively managed. Over the past 3 years, LQDW returned 3.79%/yr vs 8.88%/yr for JEPI. At a 0.34 correlation, their price movements are largely independent. LQDW charges 0.34%/yr vs 0.35%/yr for JEPI.
Performance
LQDW vs. JEPI - Performance Comparison
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Returns By Period
In the year-to-date period, LQDW achieves a 1.25% return, which is significantly higher than JEPI's 0.15% return.
LQDW
- 1D
- -0.20%
- 1M
- 0.83%
- YTD
- 1.25%
- 6M
- 1.65%
- 1Y
- 6.49%
- 3Y*
- 3.79%
- 5Y*
- —
- 10Y*
- —
JEPI
- 1D
- 0.14%
- 1M
- -1.54%
- YTD
- 0.15%
- 6M
- 0.47%
- 1Y
- 7.70%
- 3Y*
- 8.88%
- 5Y*
- 7.26%
- 10Y*
- —
LQDW vs. JEPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
LQDW iShares Investment Grade Corporate Bond Buywrite Strategy ETF | 1.25% | 9.05% | 2.60% | 3.99% | -6.78% |
JEPI JPMorgan Equity Premium Income ETF | 0.15% | 8.09% | 12.57% | 9.83% | 0.02% |
Correlation
The correlation between LQDW and JEPI is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Aug 23, 2022 | 0.34 |
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Return for Risk
LQDW vs. JEPI — Risk / Return Rank
LQDW
JEPI
LQDW vs. JEPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Investment Grade Corporate Bond Buywrite Strategy ETF (LQDW) and JPMorgan Equity Premium Income ETF (JEPI). 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.
| LQDW | JEPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.86 | ||
| Sortino ratioReturn per unit of downside risk | +1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.18 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.51 | 1.16 | +1.36 |
| Martin ratioReturn relative to average drawdown | 9.39 | 3.73 | +5.66 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| LQDW | JEPI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.85 | 0.99 | +0.86 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.66 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 1.01 | -0.55 |
Drawdowns
LQDW vs. JEPI - Drawdown Comparison
The maximum LQDW drawdown since its inception was -9.20%, smaller than the maximum JEPI drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for LQDW and JEPI.
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Drawdown Indicators
| LQDW | JEPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.20% | -13.71% | +4.51% |
Max Drawdown (1Y)Largest decline over 1 year | -2.59% | -6.68% | +4.09% |
Max Drawdown (3Y)Largest decline over 3 years | -6.74% | -13.26% | +6.52% |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.71% | — |
Current DrawdownCurrent decline from peak | -0.35% | -4.83% | +4.48% |
Average DrawdownAverage peak-to-trough decline | -2.35% | -2.12% | -0.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 2.07% | -1.38% |
Volatility
LQDW vs. JEPI - Volatility Comparison
iShares Investment Grade Corporate Bond Buywrite Strategy ETF (LQDW) has a higher volatility of 1.46% compared to JPMorgan Equity Premium Income ETF (JEPI) at 1.35%. This indicates that LQDW's price experiences larger fluctuations and is considered to be riskier than JEPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LQDW | JEPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.46% | 1.35% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 3.02% | 6.07% | -3.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.53% | 7.85% | -4.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.49% | 11.06% | -5.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.49% | 10.80% | -5.31% |
LQDW vs. JEPI - Expense Ratio Comparison
LQDW has a 0.34% expense ratio, which is lower than JEPI's 0.35% expense ratio.
Dividends
LQDW vs. JEPI - Dividend Comparison
LQDW's dividend yield for the trailing twelve months is around 12.57%, more than JEPI's 8.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
JEPI JPMorgan Equity Premium Income ETF | 8.27% | 8.25% | 7.33% | 8.40% | 11.68% | 6.59% | 5.79% |
LQDW iShares Investment Grade Corporate Bond Buywrite Strategy ETF | 12.57% | 16.02% | 15.74% | 19.28% | 8.85% | 0.00% | 0.00% |
Frequently Asked Questions
LQDW and JEPI have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LQDW has higher volatility (1.46%) compared to JEPI (1.35%). In terms of maximum drawdown, LQDW dropped -9.20% vs JEPI's -13.71%.
On 3-year performance, JEPI leads with 8.88% vs 3.79% for LQDW. On fees, LQDW is cheaper at 0.34% per year. On volatility, JEPI has been the lower-risk option at 1.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, JEPI has performed better with a 8.88% return vs 3.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LQDW is cheaper with a 0.34% expense ratio, compared with 0.35% for JEPI.
LQDW has the higher dividend yield at 12.57%, compared with 8.27% for JEPI.
LQDW is categorized as Corporate Bonds, while JEPI is Dividend. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.34% for LQDW and 0.35% for JEPI.
LQDW currently has the higher Sharpe Ratio (1.85 vs 0.99), 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.
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