QDTE vs. JEPI

Last updated Jun 7, 2026

QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - QDTE is a Derivative Income fund actively managed by Roundhill, while JEPI is a Dividend fund actively managed by JPMorgan. Both are actively managed. Over the past year, QDTE returned 31.96% vs 7.36% for JEPI. A 0.53 correlation means they provide meaningful diversification when combined. QDTE charges 0.97%/yr vs 0.35%/yr for JEPI.

Performance

QDTE vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) and JPMorgan Equity Premium Income ETF (JEPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QDTE achieves a 10.39% return, which is significantly higher than JEPI's 0.35% return.

QDTE

• 1D: -4.88%
• 1M: 0.40%
• YTD: 10.39%
• 6M: 9.51%
• 1Y: 31.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPI

• 1D: -0.34%
• 1M: -0.66%
• YTD: 0.35%
• 6M: 0.76%
• 1Y: 7.36%
• 3Y*: 9.00%
• 5Y*: 7.30%
• 10Y*: —

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

QDTE vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	10.39%	19.32%	16.07%
JEPI JPMorgan Equity Premium Income ETF	0.35%	8.09%	7.16%

Correlation

The correlation between QDTE and JEPI is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (All Time) Calculated using the full available price history since Mar 8, 2024	0.53

The correlation between QDTE and JEPI shifts across timeframes, from 0.43 (1 year) to 0.53 (all time), reflecting how their relationship changes across market environments.

QDTE vs. JEPI - Sectors Allocation Comparison

Sectors	QDTE	JEPI
Financial Services	5.4%	9.8%
Basic Materials	-	1.9%
Communication Services	-	6.9%
Consumer Cyclical	-	11.7%
Consumer Defensive	-	9.6%
Energy	-	3.5%
Healthcare	-	14.1%
Industrials	-	13.8%
Real Estate	-	3.5%
Technology	-	19.1%
Utilities	-	6.2%

Return for Risk

QDTE vs. JEPI — Risk / Return Rank

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

QDTE

QDTE Risk / Return Rank: 65
QDTE Sharpe Ratio Rank: 66
QDTE Sortino Ratio Rank: 58
QDTE Omega Ratio Rank: 65
QDTE Calmar Ratio Rank: 67
QDTE Martin Ratio Rank: 72

JEPI

JEPI Risk / Return Rank: 27
JEPI Sharpe Ratio Rank: 29
JEPI Sortino Ratio Rank: 28
JEPI Omega Ratio Rank: 28
JEPI Calmar Ratio Rank: 25
JEPI Martin Ratio Rank: 27

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.

QDTE vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) and JPMorgan Equity Premium Income ETF (JEPI). 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.

	QDTE	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	2.14	1.00	+1.14
Sortino ratio: Return per unit of downside risk	2.69	1.49	+1.20
Omega ratio: Gain probability vs. loss probability	1.38	1.18	+0.20
Calmar ratio: Return relative to maximum drawdown	3.28	1.18	+2.10
Martin ratio: Return relative to average drawdown	13.15	3.74	+9.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QDTE vs. JEPI - Sharpe Ratio Comparison

The current QDTE Sharpe Ratio is 2.14, which is higher than the JEPI Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of QDTE and JEPI, 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

	QDTE	JEPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	1.00	+1.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.66	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.12	1.01	+0.11

Drawdowns

QDTE vs. JEPI - Drawdown Comparison

The maximum QDTE drawdown since its inception was -22.86%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for QDTE and JEPI.

Drawdown Indicators

	QDTE	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-22.86%	-13.71%	-9.15%
Max Drawdown (1Y) Largest decline over 1 year	-10.20%	-6.68%	-3.52%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.26%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.71%	—
Current Drawdown Current decline from peak	-5.46%	-4.64%	-0.82%
Average Drawdown Average peak-to-trough decline	-3.14%	-2.12%	-1.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.54%	2.11%	+0.43%

Volatility

QDTE vs. JEPI - Volatility Comparison

Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) has a higher volatility of 6.32% compared to JPMorgan Equity Premium Income ETF (JEPI) at 1.49%. This indicates that QDTE's price experiences larger fluctuations and is considered to be riskier than JEPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QDTE	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.32%	1.49%	+4.83%
Volatility (6M) Calculated over the trailing 6-month period	12.14%	6.08%	+6.06%
Volatility (1Y) Calculated over the trailing 1-year period	15.63%	7.88%	+7.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.70%	11.05%	+7.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.70%	10.79%	+7.91%

QDTE vs. JEPI - Expense Ratio Comparison

QDTE has a 0.97% expense ratio, which is higher than JEPI's 0.35% expense ratio.

Dividends

QDTE vs. JEPI - Dividend Comparison

QDTE's dividend yield for the trailing twelve months is around 44.96%, more than JEPI's 8.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
JEPI JPMorgan Equity Premium Income ETF	8.26%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	44.96%	49.49%	32.09%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QDTE and JEPI in my portfolio?

QDTE and JEPI have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QDTE or JEPI?

QDTE has higher volatility (6.32%) compared to JEPI (1.49%). In terms of maximum drawdown, QDTE dropped -22.86% vs JEPI's -13.71%.

Which ETF is better, QDTE or JEPI?

On 1-year performance, QDTE leads with 31.96% vs 7.36% for JEPI. On fees, JEPI is cheaper at 0.35% per year. On volatility, JEPI has been the lower-risk option at 1.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QDTE or JEPI?

Over the 1-year period, QDTE has performed better with a 31.96% return vs 7.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QDTE or JEPI?

JEPI is cheaper with a 0.35% expense ratio, compared with 0.97% for QDTE.

Which ETF pays a higher dividend yield, QDTE or JEPI?

QDTE has the higher dividend yield at 44.96%, compared with 8.26% for JEPI.

What is the main difference between QDTE and JEPI?

QDTE is categorized as Derivative Income, while JEPI is Dividend. They also come from different issuers: Roundhill and JPMorgan. Their fees differ too: 0.97% for QDTE and 0.35% for JEPI.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (2.14 vs 1.00), 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.