QDTE vs. JEPQ

Last updated Jun 24, 2026

QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - QDTE is a Derivative Income fund actively managed by Roundhill, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. QDTE is actively managed, while JEPQ is passively managed. Over the past year, QDTE returned 33.64% vs 25.10% for JEPQ. With a 0.95 correlation, they move nearly in lockstep. QDTE charges 0.97%/yr vs 0.35%/yr for JEPQ.

Performance

QDTE vs. JEPQ - 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 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, QDTE achieves a 12.61% return, which is significantly higher than JEPQ's 7.85% return.

QDTE

• 1D: -3.23%
• 1M: -0.17%
• YTD: 12.61%
• 6M: 11.52%
• 1Y: 33.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: -2.48%
• 1M: 0.34%
• YTD: 7.85%
• 6M: 7.02%
• 1Y: 25.10%
• 3Y*: 19.79%
• 5Y*: —
• 10Y*: —

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

QDTE vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	12.61%	19.32%	17.13%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.85%	15.18%	15.80%

Correlation

The correlation between QDTE and JEPQ is 0.94, 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	0.94
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.95

The correlation between QDTE and JEPQ has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

QDTE vs. JEPQ - Sectors Allocation Comparison

Sectors	QDTE	JEPQ
Financial Services	5.4%	0.3%
Basic Materials	-	0.9%
Communication Services	-	13.9%
Consumer Cyclical	-	11.8%
Consumer Defensive	-	6.0%
Energy	-	0.3%
Healthcare	-	3.9%
Industrials	-	2.8%
Real Estate	-	0.2%
Technology	-	58.9%
Utilities	-	1.1%

Return for Risk

QDTE vs. JEPQ — Risk / Return Rank

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

QDTE

QDTE Risk / Return Rank: 64
QDTE Sharpe Ratio Rank: 64
QDTE Sortino Ratio Rank: 56
QDTE Omega Ratio Rank: 62
QDTE Calmar Ratio Rank: 68
QDTE Martin Ratio Rank: 71

JEPQ

JEPQ Risk / Return Rank: 63
JEPQ Sharpe Ratio Rank: 60
JEPQ Sortino Ratio Rank: 55
JEPQ Omega Ratio Rank: 66
JEPQ Calmar Ratio Rank: 60
JEPQ Martin Ratio Rank: 74

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. JEPQ - 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 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.

	QDTE	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	2.03	1.93	+0.10
Sortino ratio: Return per unit of downside risk	2.58	2.57	+0.02
Omega ratio: Gain probability vs. loss probability	1.36	1.38	-0.02
Calmar ratio: Return relative to maximum drawdown	3.31	2.86	+0.45
Martin ratio: Return relative to average drawdown	12.82	13.55	-0.74

QDTE vs. JEPQ - Sharpe Ratio Comparison

The current QDTE Sharpe Ratio is 2.03, which is comparable to the JEPQ Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of QDTE 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

QDTE vs. JEPQ - Drawdown Comparison

The maximum QDTE drawdown since its inception was -22.86%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for QDTE and JEPQ.

Drawdown Indicators

	QDTE	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-22.86%	-20.07%	-2.79%
Max Drawdown (1Y) Largest decline over 1 year	-10.20%	-8.82%	-1.38%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.07%	—
Current Drawdown Current decline from peak	-3.55%	-2.48%	-1.07%
Average Drawdown Average peak-to-trough decline	-3.13%	-3.40%	+0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.63%	1.86%	+0.77%

Volatility

QDTE vs. JEPQ - Volatility Comparison

Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) has a higher volatility of 8.57% compared to JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) at 6.27%. This indicates that QDTE's price experiences larger fluctuations and is considered to be riskier than JEPQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QDTE	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.57%	6.27%	+2.30%
Volatility (6M) Calculated over the trailing 6-month period	13.32%	10.58%	+2.74%
Volatility (1Y) Calculated over the trailing 1-year period	16.68%	13.08%	+3.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.99%	16.79%	+2.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.99%	16.79%	+2.20%

QDTE vs. JEPQ - Expense Ratio Comparison

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

Dividends

QDTE vs. JEPQ - Dividend Comparison

QDTE's dividend yield for the trailing twelve months is around 44.23%, more than JEPQ's 10.22% yield.

Position	TTM	2025	2024	2023	2022
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.22%	10.53%	9.65%	10.03%	9.44%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	44.23%	49.49%	32.09%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QDTE and JEPQ in my portfolio?

With a correlation of 0.94, QDTE and JEPQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, QDTE or JEPQ?

QDTE has higher volatility (8.57%) compared to JEPQ (6.27%). In terms of maximum drawdown, QDTE dropped -22.86% vs JEPQ's -20.07%.

Which ETF is better, QDTE or JEPQ?

On 1-year performance, QDTE leads with 33.64% vs 25.10% for JEPQ. On fees, JEPQ is cheaper at 0.35% per year. On volatility, JEPQ has been the lower-risk option at 6.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QDTE or JEPQ?

Over the 1-year period, QDTE has performed better with a 33.64% return vs 25.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QDTE or JEPQ?

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

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

QDTE has the higher dividend yield at 44.23%, compared with 10.22% for JEPQ.

What is the main difference between QDTE and JEPQ?

QDTE is categorized as Derivative Income, while JEPQ is Nasdaq-100. They also come from different issuers: Roundhill and JPMorgan. Their fees differ too: 0.97% for QDTE and 0.35% for JEPQ.

Which has better risk-adjusted returns?

QDTE currently has the higher Sharpe Ratio (2.03 vs 1.93), 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.