NFLY vs. JEPQ
NFLY (YieldMax NFLX Option Income Strategy ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - NFLY is a Derivative Income fund actively managed by YieldMax, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. NFLY is actively managed, while JEPQ is passively managed. Over the past year, NFLY returned -32.79% vs 19.59% for JEPQ. Their 0.39 correlation means their historical movements had little consistent relationship. NFLY charges 0.99%/yr vs 0.35%/yr for JEPQ.
Performance
NFLY vs. JEPQ - Performance Comparison
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Returns By Period
In the year-to-date period, NFLY achieves a -19.50% return, which is significantly lower than JEPQ's 6.05% return.
NFLY
- 1D
- 0.13%
- 1M
- -6.88%
- 6M
- -13.08%
- YTD
- -19.50%
- 1Y
- -32.79%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.31%
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 | |
| $416.46K | $523.86K | $744.62K |
NFLY vs. JEPQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NFLY YieldMax NFLX Option Income Strategy ETF | -19.50% | 1.66% | 66.37% | 3.80% |
JEPQ JPMorgan Nasdaq Equity Premium Income ETF | 6.05% | 15.18% | 24.85% | 7.02% |
Correlation
The correlation between NFLY and JEPQ is 0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.10 |
Correlation (All Time) Calculated using the full available price history since Aug 8, 2023 | 0.39 |
Over the past year, the correlation between NFLY and JEPQ has dropped to 0.10 - well below their long-term average of 0.39, suggesting their price drivers have been diverging.
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Return for Risk
NFLY vs. JEPQ — Risk / Return Rank
NFLY
JEPQ
NFLY vs. JEPQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax NFLX Option Income Strategy ETF (NFLY) 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.
| NFLY | JEPQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.36 | ||
| Sortino ratioReturn per unit of downside risk | -3.36 | ||
| Omega ratioGain probability vs. loss probability | 0.79 | 1.23 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | 2.02 | -2.82 |
| Martin ratioReturn relative to average drawdown | -1.47 | 8.30 | -9.77 |
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Drawdowns
NFLY vs. JEPQ - Drawdown Comparison
The maximum NFLY drawdown since its inception was -43.49%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for NFLY and JEPQ.
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Drawdown Indicators
| NFLY | JEPQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.49% | -20.07% | -23.42% |
Max Drawdown (1Y)Largest decline over 1 year | -40.74% | -8.82% | -31.92% |
Max Drawdown (3Y)Largest decline over 3 years | — | -20.07% | — |
Current DrawdownCurrent decline from peak | -40.22% | -4.23% | -35.99% |
Average DrawdownAverage peak-to-trough decline | -10.05% | -3.38% | -6.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.25% | 2.14% | +20.11% |
Volatility
NFLY vs. JEPQ - Volatility Comparison
YieldMax NFLX Option Income Strategy ETF (NFLY) has a higher volatility of 8.42% compared to JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) at 6.09%. This indicates that NFLY's price experiences larger fluctuations and is considered to be riskier 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
| NFLY | JEPQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.42% | 6.09% | +2.33% |
Volatility (6M)Calculated over the trailing 6-month period | 22.71% | 12.15% | +10.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.74% | 14.65% | +14.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.38% | 16.90% | +11.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.38% | 16.90% | +11.48% |
NFLY vs. JEPQ - Expense Ratio Comparison
NFLY has a 0.99% expense ratio, which is higher than JEPQ's 0.35% expense ratio.
Dividends
NFLY vs. JEPQ - Dividend Comparison
NFLY's dividend yield for the trailing twelve months is around 64.16%, 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% |
NFLY YieldMax NFLX Option Income Strategy ETF | 64.16% | 61.53% | 49.91% | 11.84% | 0.00% |
Frequently Asked Questions
NFLY and JEPQ have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NFLY has higher volatility (8.42%) compared to JEPQ (6.09%). In terms of maximum drawdown, NFLY dropped -43.49% vs JEPQ's -20.07%.
On 1-year performance, JEPQ leads with 19.59% vs -32.79% for NFLY. On fees, JEPQ is cheaper at 0.35% per year. On volatility, JEPQ has been the lower-risk option at 6.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, JEPQ has performed better with a 19.59% return vs -32.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JEPQ is cheaper with a 0.35% expense ratio, compared with 0.99% for NFLY.
NFLY has the higher dividend yield at 64.16%, compared with 9.99% for JEPQ.
NFLY is categorized as Derivative Income, while JEPQ is Nasdaq-100. They also come from different issuers: YieldMax and JPMorgan. Their fees differ too: 0.99% for NFLY and 0.35% for JEPQ.
JEPQ currently has the higher Sharpe Ratio (1.22 vs -1.14), 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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