QDTY vs. JEPQ

Last updated Jun 24, 2026

QDTY (YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both Nasdaq-100 funds. QDTY is actively managed, while JEPQ is passively managed. Over the past year, QDTY returned 32.82% vs 25.10% for JEPQ. Their correlation of 0.90 suggests significant overlap in exposure. QDTY charges 1.01%/yr vs 0.35%/yr for JEPQ.

Performance

QDTY vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF (QDTY) 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, QDTY achieves a 11.90% return, which is significantly higher than JEPQ's 7.85% return.

QDTY

• 1D: -2.95%
• 1M: -0.01%
• YTD: 11.90%
• 6M: 10.72%
• 1Y: 32.82%
• 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)

QDTY vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025
QDTY YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF	11.90%	12.21%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.85%	11.77%

Correlation

The correlation between QDTY and JEPQ is 0.91, 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	0.91
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	0.90

The correlation between QDTY and JEPQ has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

QDTY vs. JEPQ - Sectors Allocation Comparison

Sectors	QDTY	JEPQ
Technology	58.5%	58.9%
Communication Services	14.3%	13.9%
Consumer Cyclical	11.4%	11.8%
Consumer Defensive	6.4%	6.0%
Healthcare	3.7%	3.9%
Industrials	2.8%	2.8%
Utilities	1.2%	1.1%
Basic Materials	1.0%	0.9%
Energy	0.5%	0.3%
Financial Services	0.2%	0.3%
Real Estate	0.1%	0.2%

Return for Risk

QDTY vs. JEPQ — Risk / Return Rank

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

QDTY

QDTY Risk / Return Rank: 60
QDTY Sharpe Ratio Rank: 61
QDTY Sortino Ratio Rank: 55
QDTY Omega Ratio Rank: 58
QDTY Calmar Ratio Rank: 63
QDTY Martin Ratio Rank: 61

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.

QDTY vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF (QDTY) 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.

	QDTY	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	1.94	1.93	+0.01
Sortino ratio: Return per unit of downside risk	2.52	2.57	-0.05
Omega ratio: Gain probability vs. loss probability	1.34	1.38	-0.04
Calmar ratio: Return relative to maximum drawdown	2.97	2.86	+0.11
Martin ratio: Return relative to average drawdown	10.47	13.55	-3.08

QDTY vs. JEPQ - Sharpe Ratio Comparison

The current QDTY Sharpe Ratio is 1.94, which is comparable to the JEPQ Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of QDTY 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

QDTY vs. JEPQ - Drawdown Comparison

The maximum QDTY drawdown since its inception was -23.45%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for QDTY and JEPQ.

Drawdown Indicators

	QDTY	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-23.45%	-20.07%	-3.38%
Max Drawdown (1Y) Largest decline over 1 year	-11.10%	-8.82%	-2.28%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.07%	—
Current Drawdown Current decline from peak	-3.84%	-2.48%	-1.36%
Average Drawdown Average peak-to-trough decline	-4.43%	-3.40%	-1.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.14%	1.86%	+1.28%

Volatility

QDTY vs. JEPQ - Volatility Comparison

YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF (QDTY) has a higher volatility of 8.42% compared to JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) at 6.27%. This indicates that QDTY'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

	QDTY	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.42%	6.27%	+2.15%
Volatility (6M) Calculated over the trailing 6-month period	13.81%	10.58%	+3.23%
Volatility (1Y) Calculated over the trailing 1-year period	17.02%	13.08%	+3.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.25%	16.79%	+9.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.25%	16.79%	+9.46%

QDTY vs. JEPQ - Expense Ratio Comparison

QDTY has a 1.01% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

QDTY vs. JEPQ - Dividend Comparison

QDTY's dividend yield for the trailing twelve months is around 31.83%, 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%
QDTY YieldMax Nasdaq 100 0DTE Covered Call Strategy ETF	31.83%	26.82%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QDTY and JEPQ in my portfolio?

With a correlation of 0.91, QDTY 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, QDTY or JEPQ?

QDTY has higher volatility (8.42%) compared to JEPQ (6.27%). In terms of maximum drawdown, QDTY dropped -23.45% vs JEPQ's -20.07%.

Which ETF is better, QDTY or JEPQ?

On 1-year performance, QDTY leads with 32.82% 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, QDTY or JEPQ?

Over the 1-year period, QDTY has performed better with a 32.82% return vs 25.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QDTY or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 1.01% for QDTY.

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

QDTY has the higher dividend yield at 31.83%, compared with 10.22% for JEPQ.

What is the main difference between QDTY and JEPQ?

They also come from different issuers: YieldMax and JPMorgan. Their fees differ too: 1.01% for QDTY and 0.35% for JEPQ.

Which has better risk-adjusted returns?

QDTY currently has the higher Sharpe Ratio (1.94 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.