LQDW vs. JEPQ
LQDW (iShares Investment Grade Corporate Bond Buywrite Strategy ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - LQDW is a Corporate Bonds fund tracking the CBOE LQD BuyWrite Index, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Both are passively managed. Over the past 3 years, LQDW returned 3.14%/yr vs 17.49%/yr for JEPQ. Their 0.30 correlation means their historical movements had little consistent relationship. LQDW charges 0.34%/yr vs 0.35%/yr for JEPQ.
Performance
LQDW vs. JEPQ - Performance Comparison
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Returns By Period
In the year-to-date period, LQDW achieves a 0.40% return, which is significantly lower than JEPQ's 6.05% return.
LQDW
- 1D
- -0.19%
- 1M
- -1.66%
- 6M
- -0.19%
- YTD
- 0.40%
- 1Y
- 3.34%
- 3Y*
- 3.14%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.19%
JEPQ
- 1D
- 0.57%
- 1M
- -1.92%
- 6M
- 3.71%
- YTD
- 6.05%
- 1Y
- 19.59%
- 3Y*
- 17.49%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 15.56%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $439.89M | $417.31M | $422.49M | |
| $6.26M | $3.68M | $2.25M |
LQDW vs. JEPQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
LQDW iShares Investment Grade Corporate Bond Buywrite Strategy ETF | 0.40% | 9.05% | 2.60% | 3.99% | -6.78% |
JEPQ JPMorgan Nasdaq Equity Premium Income ETF | 6.05% | 15.18% | 24.85% | 36.28% | -11.72% |
Correlation
The correlation between LQDW and JEPQ is 0.33, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.33 |
Correlation (3Y) Balances recent behavior with more history. | 0.24 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2022 | 0.30 |
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Return for Risk
LQDW vs. JEPQ — Risk / Return Rank
LQDW
JEPQ
LQDW vs. JEPQ - 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 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.
| LQDW | JEPQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.23 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.32 | 2.02 | -0.70 |
| Martin ratioReturn relative to average drawdown | 4.31 | 8.30 | -4.00 |
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Drawdowns
LQDW vs. JEPQ - Drawdown Comparison
The maximum LQDW drawdown since its inception was -9.20%, smaller than the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for LQDW and JEPQ.
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Drawdown Indicators
| LQDW | JEPQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.20% | -20.07% | +10.87% |
Max Drawdown (1Y)Largest decline over 1 year | -2.59% | -8.82% | +6.23% |
Max Drawdown (3Y)Largest decline over 3 years | -5.68% | -20.07% | +14.39% |
Current DrawdownCurrent decline from peak | -1.90% | -4.23% | +2.33% |
Average DrawdownAverage peak-to-trough decline | -2.28% | -3.38% | +1.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 2.14% | -1.34% |
Volatility
LQDW vs. JEPQ - Volatility Comparison
The current volatility for iShares Investment Grade Corporate Bond Buywrite Strategy ETF (LQDW) is 1.17%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 6.09%. This indicates that LQDW 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.
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Volatility by Period
| LQDW | JEPQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 6.09% | -4.92% |
Volatility (6M)Calculated over the trailing 6-month period | 3.28% | 12.15% | -8.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.77% | 14.65% | -10.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.43% | 16.90% | -11.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.43% | 16.90% | -11.47% |
LQDW vs. JEPQ - Expense Ratio Comparison
LQDW has a 0.34% expense ratio, which is lower than JEPQ's 0.35% expense ratio.
Dividends
LQDW vs. JEPQ - Dividend Comparison
LQDW's dividend yield for the trailing twelve months is around 12.34%, more than JEPQ's 10.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
JEPQ JPMorgan Nasdaq Equity Premium Income ETF | 9.99% | 10.53% | 9.65% | 10.03% | 9.44% |
LQDW iShares Investment Grade Corporate Bond Buywrite Strategy ETF | 12.34% | 16.02% | 15.74% | 19.28% | 8.85% |
Frequently Asked Questions
LQDW and JEPQ have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JEPQ has higher volatility (6.09%) compared to LQDW (1.17%). In terms of maximum drawdown, LQDW dropped -9.20% vs JEPQ's -20.07%.
On 3-year performance, JEPQ leads with 17.49% vs 3.14% for LQDW. On fees, LQDW is cheaper at 0.34% per year. On volatility, LQDW has been the lower-risk option at 1.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, JEPQ has performed better with a 17.49% return vs 3.14%. 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 JEPQ.
LQDW has the higher dividend yield at 12.34%, compared with 9.99% for JEPQ.
LQDW is categorized as Corporate Bonds, while JEPQ is Nasdaq-100. LQDW tracks CBOE LQD BuyWrite Index, while JEPQ tracks Nasdaq-100 Index. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.34% for LQDW and 0.35% for JEPQ.
JEPQ currently has the higher Sharpe Ratio (1.22 vs 0.91), 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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