QCAP vs. JEPQ

Last updated Jun 4, 2026

QCAP (FT Vest NASDAQ-100 Conservative Buffer ETF - April) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both Nasdaq-100 funds. QCAP is actively managed, while JEPQ is passively managed. Over the past year, QCAP returned 11.06% vs 29.00% for JEPQ. Their correlation of 0.87 suggests significant overlap in exposure. QCAP charges 0.90%/yr vs 0.35%/yr for JEPQ.

Performance

QCAP vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest NASDAQ-100 Conservative Buffer ETF - April (QCAP) 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, QCAP achieves a 5.23% return, which is significantly lower than JEPQ's 9.54% return.

QCAP

• 1D: -0.08%
• 1M: 2.34%
• YTD: 5.23%
• 6M: 5.92%
• 1Y: 11.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: -0.10%
• 1M: 4.31%
• YTD: 9.54%
• 6M: 9.75%
• 1Y: 29.00%
• 3Y*: 20.92%
• 5Y*: —
• 10Y*: —

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

QCAP vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QCAP FT Vest NASDAQ-100 Conservative Buffer ETF - April	5.23%	7.13%	10.40%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.54%	15.18%	18.88%

Correlation

The correlation between QCAP and JEPQ is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (All Time) Calculated using the full available price history since Apr 23, 2024	0.87

The correlation between QCAP and JEPQ has been stable across timeframes, ranging from 0.81 to 0.87 - a consistent structural relationship.

Return for Risk

QCAP vs. JEPQ — Risk / Return Rank

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

QCAP

QCAP Risk / Return Rank: 97
QCAP Sharpe Ratio Rank: 96
QCAP Sortino Ratio Rank: 98
QCAP Omega Ratio Rank: 98
QCAP Calmar Ratio Rank: 98
QCAP Martin Ratio Rank: 98

JEPQ

JEPQ Risk / Return Rank: 74
JEPQ Sharpe Ratio Rank: 74
JEPQ Sortino Ratio Rank: 71
JEPQ Omega Ratio Rank: 80
JEPQ Calmar Ratio Rank: 65
JEPQ Martin Ratio Rank: 80

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.

QCAP vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest NASDAQ-100 Conservative Buffer ETF - April (QCAP) 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.

	QCAP	JEPQ	Difference
Sharpe ratio Return per unit of total volatility	4.17	2.49	+1.68
Sortino ratio Return per unit of downside risk	7.37	3.29	+4.08
Omega ratio Gain probability vs. loss probability	1.99	1.49	+0.50
Calmar ratio Return relative to maximum drawdown	13.50	3.31	+10.19
Martin ratio Return relative to average drawdown	67.84	16.22	+51.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QCAP vs. JEPQ - Sharpe Ratio Comparison

The current QCAP Sharpe Ratio is 4.17, which is higher than the JEPQ Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of QCAP 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.

Sharpe Ratios by Period

	QCAP	JEPQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.17	2.49	+1.68
Sharpe Ratio (All Time) Calculated using the full available price history	1.26	1.00	+0.25

Drawdowns

QCAP vs. JEPQ - Drawdown Comparison

The maximum QCAP drawdown since its inception was -9.17%, smaller than the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for QCAP and JEPQ.

Drawdown Indicators

	QCAP	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-9.17%	-20.07%	+10.90%
Max Drawdown (1Y) Largest decline over 1 year	-0.82%	-8.82%	+8.00%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.07%	—
Current Drawdown Current decline from peak	-0.08%	-0.10%	+0.02%
Average Drawdown Average peak-to-trough decline	-0.52%	-3.42%	+2.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.16%	1.79%	-1.63%

Volatility

QCAP vs. JEPQ - Volatility Comparison

The current volatility for FT Vest NASDAQ-100 Conservative Buffer ETF - April (QCAP) is 0.99%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 1.26%. This indicates that QCAP 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

	QCAP	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.99%	1.26%	-0.27%
Volatility (6M) Calculated over the trailing 6-month period	1.93%	9.07%	-7.14%
Volatility (1Y) Calculated over the trailing 1-year period	2.69%	11.73%	-9.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.73%	16.61%	-7.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.73%	16.61%	-7.88%

QCAP vs. JEPQ - Expense Ratio Comparison

QCAP has a 0.90% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

QCAP vs. JEPQ - Dividend Comparison

QCAP has not paid dividends to shareholders, while JEPQ's dividend yield for the trailing twelve months is around 10.07%.

Position	TTM	2025	2024	2023	2022
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.07%	10.53%	9.65%	10.03%	9.44%
QCAP FT Vest NASDAQ-100 Conservative Buffer ETF - April	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QCAP and JEPQ in my portfolio?

QCAP and JEPQ have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QCAP or JEPQ?

JEPQ has higher volatility (1.26%) compared to QCAP (0.99%). In terms of maximum drawdown, QCAP dropped -9.17% vs JEPQ's -20.07%.

Which ETF is better, QCAP or JEPQ?

On 1-year performance, JEPQ leads with 29.00% vs 11.06% for QCAP. On fees, JEPQ is cheaper at 0.35% per year. On volatility, QCAP has been the lower-risk option at 0.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QCAP or JEPQ?

Over the 1-year period, JEPQ has performed better with a 29.00% return vs 11.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QCAP or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.90% for QCAP.

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

JEPQ has the higher dividend yield at 10.07%, compared with 0.00% for QCAP.

What is the main difference between QCAP and JEPQ?

They also come from different issuers: FT Vest and JPMorgan. Their fees differ too: 0.90% for QCAP and 0.35% for JEPQ.

Which has better risk-adjusted returns?

QCAP currently has the higher Sharpe Ratio (4.17 vs 2.49), 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.