PFFA vs. JEPQ

Last updated Jun 20, 2026

PFFA (Virtus InfraCap U.S. Preferred Stock ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - PFFA is a Preferred Stock/Convertible Bonds fund actively managed by Virtus Investment Partners, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. PFFA is actively managed, while JEPQ is passively managed. Over the past 3 years, PFFA returned 14.42%/yr vs 20.83%/yr for JEPQ. At a 0.46 correlation, their price movements are largely independent. PFFA charges 1.47%/yr vs 0.35%/yr for JEPQ.

Performance

PFFA vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus InfraCap U.S. Preferred Stock ETF (PFFA) 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, PFFA achieves a 3.08% return, which is significantly lower than JEPQ's 10.52% return.

PFFA

• 1D: 0.19%
• 1M: -0.14%
• YTD: 3.08%
• 6M: 2.32%
• 1Y: 12.59%
• 3Y*: 14.42%
• 5Y*: 6.42%
• 10Y*: —

JEPQ

• 1D: 1.61%
• 1M: 3.22%
• YTD: 10.52%
• 6M: 10.65%
• 1Y: 29.09%
• 3Y*: 20.83%
• 5Y*: —
• 10Y*: —

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

PFFA vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PFFA Virtus InfraCap U.S. Preferred Stock ETF	3.08%	8.22%	16.11%	26.45%	-15.40%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.52%	15.18%	24.85%	36.28%	-11.16%

Correlation

The correlation between PFFA and JEPQ is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.46

The correlation between PFFA and JEPQ shifts across timeframes, from 0.39 (3 years) to 0.51 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PFFA vs. JEPQ — Risk / Return Rank

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

PFFA

PFFA Risk / Return Rank: 49
PFFA Sharpe Ratio Rank: 54
PFFA Sortino Ratio Rank: 55
PFFA Omega Ratio Rank: 55
PFFA Calmar Ratio Rank: 41
PFFA Martin Ratio Rank: 42

JEPQ

JEPQ Risk / Return Rank: 76
JEPQ Sharpe Ratio Rank: 76
JEPQ Sortino Ratio Rank: 72
JEPQ Omega Ratio Rank: 81
JEPQ Calmar Ratio Rank: 69
JEPQ Martin Ratio Rank: 82

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.

PFFA vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus InfraCap U.S. Preferred Stock ETF (PFFA) 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.

	PFFA	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	1.77	2.28	-0.50
Sortino ratio: Return per unit of downside risk	2.53	3.02	-0.49
Omega ratio: Gain probability vs. loss probability	1.33	1.45	-0.12
Calmar ratio: Return relative to maximum drawdown	1.95	3.31	-1.37
Martin ratio: Return relative to average drawdown	6.47	15.77	-9.29

PFFA vs. JEPQ - Sharpe Ratio Comparison

The current PFFA Sharpe Ratio is 1.77, which is comparable to the JEPQ Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of PFFA 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

PFFA vs. JEPQ - Drawdown Comparison

The maximum PFFA drawdown since its inception was -70.52%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for PFFA and JEPQ.

Drawdown Indicators

	PFFA	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-70.52%	-20.07%	-50.45%
Max Drawdown (1Y) Largest decline over 1 year	-6.49%	-8.82%	+2.33%
Max Drawdown (3Y) Largest decline over 3 years	-12.15%	-20.07%	+7.92%
Max Drawdown (5Y) Largest decline over 5 years	-22.70%	—	—
Current Drawdown Current decline from peak	-1.50%	0.00%	-1.50%
Average Drawdown Average peak-to-trough decline	-6.62%	-3.40%	-3.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	1.85%	+0.10%

Volatility

PFFA vs. JEPQ - Volatility Comparison

The current volatility for Virtus InfraCap U.S. Preferred Stock ETF (PFFA) is 2.17%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 5.70%. This indicates that PFFA 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

	PFFA	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.17%	5.70%	-3.53%
Volatility (6M) Calculated over the trailing 6-month period	5.89%	10.49%	-4.60%
Volatility (1Y) Calculated over the trailing 1-year period	7.13%	12.83%	-5.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.53%	16.76%	-5.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.76%	16.76%	+15.00%

PFFA vs. JEPQ - Expense Ratio Comparison

PFFA has a 1.47% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

PFFA vs. JEPQ - Dividend Comparison

PFFA's dividend yield for the trailing twelve months is around 9.62%, less than JEPQ's 9.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.98%	10.53%	9.65%	10.03%	9.44%	0.00%	0.00%	0.00%	0.00%
PFFA Virtus InfraCap U.S. Preferred Stock ETF	9.62%	9.47%	9.18%	9.56%	10.75%	7.64%	8.54%	10.02%	5.15%

Frequently Asked Questions

Can I hold both PFFA and JEPQ in my portfolio?

PFFA and JEPQ have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PFFA or JEPQ?

JEPQ has higher volatility (5.70%) compared to PFFA (2.17%). In terms of maximum drawdown, PFFA dropped -70.52% vs JEPQ's -20.07%.

Which ETF is better, PFFA or JEPQ?

On 3-year performance, JEPQ leads with 20.83% vs 14.42% for PFFA. On fees, JEPQ is cheaper at 0.35% per year. On volatility, PFFA has been the lower-risk option at 2.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PFFA or JEPQ?

Over the 3-year period, JEPQ has performed better with a 20.83% return vs 14.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PFFA or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 1.47% for PFFA.

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

JEPQ has the higher dividend yield at 9.98%, compared with 9.62% for PFFA.

What is the main difference between PFFA and JEPQ?

PFFA is categorized as Preferred Stock/Convertible Bonds, while JEPQ is Nasdaq-100. They also come from different issuers: Virtus Investment Partners and JPMorgan. Their fees differ too: 1.47% for PFFA and 0.35% for JEPQ.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.28 vs 1.77), 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.