NLR vs. JEPQ

Last updated Jun 16, 2026

NLR (VanEck Uranium and Nuclear ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - NLR is a Uranium fund tracking the MVIS Global Uranium & Nuclear Energy Index, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Both are passively managed. Over the past 3 years, NLR returned 30.97%/yr vs 20.72%/yr for JEPQ. A 0.53 correlation means they provide meaningful diversification when combined. NLR charges 0.56%/yr vs 0.35%/yr for JEPQ.

Performance

NLR vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Uranium and Nuclear ETF (NLR) 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, NLR achieves a 1.46% return, which is significantly lower than JEPQ's 10.23% return.

NLR

• 1D: 3.33%
• 1M: -2.83%
• YTD: 1.46%
• 6M: 2.10%
• 1Y: 22.97%
• 3Y*: 30.97%
• 5Y*: 20.95%
• 10Y*: 13.18%

JEPQ

• 1D: 2.21%
• 1M: 3.31%
• YTD: 10.23%
• 6M: 11.56%
• 1Y: 29.39%
• 3Y*: 20.72%
• 5Y*: —
• 10Y*: —

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

NLR vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
NLR VanEck Uranium and Nuclear ETF	1.46%	56.50%	14.26%	36.67%	1.45%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.23%	15.18%	24.85%	36.28%	-11.16%

Correlation

The correlation between NLR and JEPQ is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.53

The correlation between NLR and JEPQ has been stable across timeframes, ranging from 0.50 to 0.55 - a consistent structural relationship.

NLR vs. JEPQ - Sectors Allocation Comparison

Sectors	NLR	JEPQ
Energy	45.3%	0.3%
Utilities	38.1%	1.1%
Industrials	15.1%	2.8%
Technology	1.6%	58.9%
Basic Materials	-	0.9%
Communication Services	-	13.9%
Consumer Cyclical	-	11.8%
Consumer Defensive	-	6.0%
Financial Services	-	0.3%
Healthcare	-	3.9%
Real Estate	-	0.2%

Return for Risk

NLR vs. JEPQ — Risk / Return Rank

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

NLR

NLR Risk / Return Rank: 19
NLR Sharpe Ratio Rank: 19
NLR Sortino Ratio Rank: 21
NLR Omega Ratio Rank: 19
NLR Calmar Ratio Rank: 20
NLR Martin Ratio Rank: 18

JEPQ

JEPQ Risk / Return Rank: 81
JEPQ Sharpe Ratio Rank: 81
JEPQ Sortino Ratio Rank: 77
JEPQ Omega Ratio Rank: 85
JEPQ Calmar Ratio Rank: 73
JEPQ Martin Ratio Rank: 86

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.

NLR vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Uranium and Nuclear ETF (NLR) 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.

	NLR	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	0.54	2.31	-1.78
Sortino ratio: Return per unit of downside risk	1.02	3.06	-2.03
Omega ratio: Gain probability vs. loss probability	1.12	1.46	-0.34
Calmar ratio: Return relative to maximum drawdown	0.78	3.35	-2.57
Martin ratio: Return relative to average drawdown	1.72	15.94	-14.22

NLR vs. JEPQ - Sharpe Ratio Comparison

The current NLR Sharpe Ratio is 0.54, which is lower than the JEPQ Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of NLR 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

NLR vs. JEPQ - Drawdown Comparison

The maximum NLR drawdown since its inception was -65.05%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for NLR and JEPQ.

Drawdown Indicators

	NLR	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-65.05%	-20.07%	-44.98%
Max Drawdown (1Y) Largest decline over 1 year	-29.72%	-8.82%	-20.90%
Max Drawdown (3Y) Largest decline over 3 years	-30.48%	-20.07%	-10.41%
Max Drawdown (5Y) Largest decline over 5 years	-30.48%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.35%	—	—
Current Drawdown Current decline from peak	-23.34%	0.00%	-23.34%
Average Drawdown Average peak-to-trough decline	-35.70%	-3.41%	-32.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.41%	1.85%	+11.56%

Volatility

NLR vs. JEPQ - Volatility Comparison

VanEck Uranium and Nuclear ETF (NLR) has a higher volatility of 14.21% compared to JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) at 5.42%. This indicates that NLR'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.

Volatility by Period

	NLR	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.21%	5.42%	+8.79%
Volatility (6M) Calculated over the trailing 6-month period	33.77%	10.44%	+23.33%
Volatility (1Y) Calculated over the trailing 1-year period	43.06%	12.78%	+30.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.61%	16.76%	+12.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.25%	16.76%	+7.49%

NLR vs. JEPQ - Expense Ratio Comparison

NLR has a 0.56% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

NLR vs. JEPQ - Dividend Comparison

NLR's dividend yield for the trailing twelve months is around 2.51%, less than JEPQ's 10.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.00%	10.53%	9.65%	10.03%	9.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NLR VanEck Uranium and Nuclear ETF	2.51%	2.55%	0.76%	4.54%	2.02%	1.99%	2.23%	2.21%	3.91%	4.86%	3.62%	3.30%

Frequently Asked Questions

Can I hold both NLR and JEPQ in my portfolio?

NLR and JEPQ have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NLR or JEPQ?

NLR has higher volatility (14.21%) compared to JEPQ (5.42%). In terms of maximum drawdown, NLR dropped -65.05% vs JEPQ's -20.07%.

Which ETF is better, NLR or JEPQ?

On 3-year performance, NLR leads with 30.97% vs 20.72% for JEPQ. On fees, JEPQ is cheaper at 0.35% per year. On volatility, JEPQ has been the lower-risk option at 5.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NLR or JEPQ?

Over the 3-year period, NLR has performed better with a 30.97% return vs 20.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NLR or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.56% for NLR.

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

JEPQ has the higher dividend yield at 10.00%, compared with 2.51% for NLR.

What is the main difference between NLR and JEPQ?

NLR is categorized as Uranium, while JEPQ is Nasdaq-100. NLR tracks MVIS Global Uranium & Nuclear Energy Index, while JEPQ tracks Nasdaq-100 Index. They also come from different issuers: VanEck and JPMorgan. Their fees differ too: 0.56% for NLR and 0.35% for JEPQ.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.31 vs 0.54), 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.