ORNAX vs. JEPQ
Compare and contrast key facts about Invesco Rochester Municipal Opportunities Fund (ORNAX) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ).
ORNAX is managed by Invesco. It was launched on Sep 30, 1993. JEPQ is an actively managed fund by JPMorgan Chase. It was launched on May 3, 2022.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ORNAX or JEPQ.
Key characteristics
| ORNAX | JEPQ | |
|---|---|---|
| YTD Return | 4.32% | 23.19% |
| 1Y Return | 12.75% | 28.90% |
| Sharpe Ratio | 2.55 | 2.49 |
| Sortino Ratio | 3.97 | 3.24 |
| Omega Ratio | 1.60 | 1.51 |
| Calmar Ratio | 0.92 | 2.85 |
| Martin Ratio | 13.61 | 12.34 |
| Ulcer Index | 0.94% | 2.48% |
| Daily Std Dev | 5.00% | 12.22% |
| Max Drawdown | -55.48% | -16.82% |
| Current Drawdown | -2.71% | 0.00% |
Correlation
The correlation between ORNAX and JEPQ is 0.15, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
ORNAX vs. JEPQ - Performance Comparison
In the year-to-date period, ORNAX achieves a 4.32% return, which is significantly lower than JEPQ's 23.19% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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ORNAX vs. JEPQ - Expense Ratio Comparison
ORNAX has a 0.72% expense ratio, which is higher than JEPQ's 0.35% expense ratio.
Risk-Adjusted Performance
ORNAX vs. JEPQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Rochester Municipal Opportunities Fund (ORNAX) 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.
Dividends
ORNAX vs. JEPQ - Dividend Comparison
ORNAX's dividend yield for the trailing twelve months is around 5.20%, less than JEPQ's 9.36% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ORNAX Invesco Rochester Municipal Opportunities Fund | 5.20% | 5.06% | 4.81% | 4.25% | 4.81% | 4.24% | 4.80% | 5.78% | 6.56% | 6.67% | 7.51% | 8.06% |
JEPQ JPMorgan Nasdaq Equity Premium Income ETF | 9.36% | 10.02% | 9.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
ORNAX vs. JEPQ - Drawdown Comparison
The maximum ORNAX drawdown since its inception was -55.48%, which is greater than JEPQ's maximum drawdown of -16.82%. Use the drawdown chart below to compare losses from any high point for ORNAX and JEPQ. For additional features, visit the drawdowns tool.
Volatility
ORNAX vs. JEPQ - Volatility Comparison
The current volatility for Invesco Rochester Municipal Opportunities Fund (ORNAX) is 2.23%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 3.39%. This indicates that ORNAX 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.