NWAUX vs. JEPQ

Last updated Aug 1, 2026

NWAUX (Nationwide GQG US Quality Equity Fund) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both funds - NWAUX is a Quality Factor fund managed by Nationwide, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Over the past 3 years, NWAUX returned 10.94%/yr vs 17.49%/yr for JEPQ. Their 0.54 correlation means they have sometimes moved together and sometimes differently. NWAUX charges 0.74%/yr vs 0.35%/yr for JEPQ.

Performance

NWAUX vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nationwide GQG US Quality Equity Fund (NWAUX) 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, NWAUX achieves a 5.53% return, which is significantly lower than JEPQ's 6.05% return.

NWAUX

• 1D: 0.28%
• 1M: 0.28%
• 6M: 1.75%
• YTD: 5.53%
• 1Y: 6.08%
• 3Y*: 10.94%
• 5Y*: 8.98%
• 10Y*: —
• ALL TIME*: 11.54%

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%

*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	$439.89M	$417.31M	$422.49M
NWAUX Nationwide GQG US Quality Equity Fund	$0.00	$0.00	$0.00

NWAUX vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
NWAUX Nationwide GQG US Quality Equity Fund	5.53%	-4.92%	27.90%	18.30%	-7.19%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	6.05%	15.18%	24.85%	36.28%	-11.16%

Correlation

The correlation between NWAUX and JEPQ is -0.25, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.25
Correlation (3Y) Balances recent behavior with more history.	0.45
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.54

The correlation between NWAUX and JEPQ shifts across timeframes, from -0.25 (1 year) to 0.54 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NWAUX vs. JEPQ — Risk / Return Rank

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

NWAUX

NWAUX Risk / Return Rank: 13
NWAUX Sharpe Ratio Rank: 14
NWAUX Sortino Ratio Rank: 14
NWAUX Omega Ratio Rank: 13
NWAUX Calmar Ratio Rank: 14
NWAUX Martin Ratio Rank: 12

JEPQ

JEPQ Risk / Return Rank: 55
JEPQ Sharpe Ratio Rank: 50
JEPQ Sortino Ratio Rank: 48
JEPQ Omega Ratio Rank: 52
JEPQ Calmar Ratio Rank: 58
JEPQ Martin Ratio Rank: 68

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.

NWAUX vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nationwide GQG US Quality Equity Fund (NWAUX) 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.

	NWAUX	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	0.55	1.22	-0.67
Sortino ratio: Return per unit of downside risk	0.87	1.72	-0.86
Omega ratio: Gain probability vs. loss probability	1.10	1.23	-0.13
Calmar ratio: Return relative to maximum drawdown	0.68	2.02	-1.34
Martin ratio: Return relative to average drawdown	1.54	8.30	-6.76

NWAUX vs. JEPQ - Sharpe Ratio Comparison

The current NWAUX Sharpe Ratio is 0.55, which is lower than the JEPQ Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of NWAUX 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

NWAUX vs. JEPQ - Drawdown Comparison

The maximum NWAUX drawdown since its inception was -21.07%, roughly equal to the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for NWAUX and JEPQ.

Drawdown Indicators

	NWAUX	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-21.07%	-20.07%	-1.00%
Max Drawdown (1Y) Largest decline over 1 year	-8.55%	-8.82%	+0.27%
Max Drawdown (3Y) Largest decline over 3 years	-19.31%	-20.07%	+0.76%
Max Drawdown (5Y) Largest decline over 5 years	-21.07%	—	—
Current Drawdown Current decline from peak	-10.57%	-4.23%	-6.34%
Average Drawdown Average peak-to-trough decline	-7.04%	-3.38%	-3.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.77%	2.14%	+1.63%

Volatility

NWAUX vs. JEPQ - Volatility Comparison

The current volatility for Nationwide GQG US Quality Equity Fund (NWAUX) is 2.69%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 6.09%. This indicates that NWAUX 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

	NWAUX	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.69%	6.09%	-3.40%
Volatility (6M) Calculated over the trailing 6-month period	8.30%	12.15%	-3.85%
Volatility (1Y) Calculated over the trailing 1-year period	10.57%	14.65%	-4.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.11%	16.90%	-0.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.83%	16.90%	-1.07%

NWAUX vs. JEPQ - Expense Ratio Comparison

NWAUX has a 0.74% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

NWAUX vs. JEPQ - Dividend Comparison

NWAUX's dividend yield for the trailing twelve months is around 4.93%, less than JEPQ's 10.75% yield.

Position	TTM	2025	2024	2023	2022	2021
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.99%	10.53%	9.65%	10.03%	9.44%	0.00%
NWAUX Nationwide GQG US Quality Equity Fund	4.93%	4.35%	13.58%	0.40%	1.93%	0.60%

Frequently Asked Questions

Can I hold both NWAUX and JEPQ in my portfolio?

NWAUX and JEPQ have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NWAUX or JEPQ?

JEPQ has higher volatility (6.09%) compared to NWAUX (2.69%). In terms of maximum drawdown, NWAUX dropped -21.07% vs JEPQ's -20.07%.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (1.22 vs 0.55), 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.