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QQQ vs. JEPI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QQQ vs. JEPI

Last updated Jun 13, 2026

QQQ (Invesco QQQ ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while JEPI is a Dividend fund actively managed by JPMorgan. QQQ is passively managed, while JEPI is actively managed. Over the past 5 years, QQQ returned 16.85%/yr vs 7.45%/yr for JEPI. A 0.62 correlation means they provide meaningful diversification when combined. QQQ charges 0.18%/yr vs 0.35%/yr for JEPI.

Performance

QQQ vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ ETF (QQQ) and JPMorgan Equity Premium Income ETF (JEPI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, QQQ achieves a 17.57% return, which is significantly higher than JEPI's 1.29% return.

QQQ

1D
0.59%
1M
0.93%
YTD
17.57%
6M
17.85%
1Y
35.82%
3Y*
26.43%
5Y*
16.85%
10Y*
21.79%

JEPI

1D
0.43%
1M
0.90%
YTD
1.29%
6M
1.18%
1Y
7.58%
3Y*
9.13%
5Y*
7.45%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

QQQ vs. JEPI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
QQQ
Invesco QQQ ETF		17.57%20.77%25.58%54.86%-32.58%27.42%36.27%
JEPI
JPMorgan Equity Premium Income ETF		1.29%8.09%12.57%9.83%-3.49%21.52%18.39%

Correlation

The correlation between QQQ 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 (3Y)
Calculated over the trailing 3-year period

0.55

Correlation (5Y)
Calculated over the trailing 5-year period

0.62

Correlation (All Time)
Calculated using the full available price history since May 21, 2020

0.62

The correlation between QQQ and JEPI shifts across timeframes, from 0.43 (1 year) to 0.62 (5 years), reflecting how their relationship changes across market environments.

QQQ vs. JEPI - Sectors Allocation Comparison

Sectors
QQQ
JEPI

Technology

53.8%
19.1%

Communication Services

15.8%
6.9%

Consumer Cyclical

12.3%
11.7%

Consumer Defensive

7.7%
9.6%

Healthcare

4.2%
14.1%

Industrials

2.8%
13.8%

Utilities

1.4%
6.2%

Basic Materials

1.1%
1.9%

Energy

0.6%
3.5%

Financial Services

0.2%
9.8%

Real Estate

0.1%
3.5%

Technology

QQQ
53.8%
JEPI
19.1%

Communication Services

QQQ
15.8%
JEPI
6.9%

Consumer Cyclical

QQQ
12.3%
JEPI
11.7%

Consumer Defensive

QQQ
7.7%
JEPI
9.6%

Healthcare

QQQ
4.2%
JEPI
14.1%

Industrials

QQQ
2.8%
JEPI
13.8%

Utilities

QQQ
1.4%
JEPI
6.2%

Basic Materials

QQQ
1.1%
JEPI
1.9%

Energy

QQQ
0.6%
JEPI
3.5%

Financial Services

QQQ
0.2%
JEPI
9.8%

Real Estate

QQQ
0.1%
JEPI
3.5%

Compare stocks, funds, or ETFs

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Invesco QQQ ETF

JPMorgan Equity Premium Income ETF

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Often compared with JEPI:
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Return for Risk

QQQ vs. JEPI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QQQ
QQQ Risk / Return Rank: 7171
Overall Rank
QQQ Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 7070
Sortino Ratio Rank
QQQ Omega Ratio Rank: 7373
Omega Ratio Rank
QQQ Calmar Ratio Rank: 6969
Calmar Ratio Rank
QQQ Martin Ratio Rank: 7070
Martin Ratio Rank
JEPI
JEPI Risk / Return Rank: 2828
Overall Rank
JEPI Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
JEPI Sortino Ratio Rank: 2929
Sortino Ratio Rank
JEPI Omega Ratio Rank: 2828
Omega Ratio Rank
JEPI Calmar Ratio Rank: 2727
Calmar Ratio Rank
JEPI Martin Ratio Rank: 2828
Martin Ratio Rank
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.

QQQ vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) 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.

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.

QQQJEPIDifference
Sharpe ratioReturn per unit of total volatility
2.09
0.95

+1.14

Sortino ratioReturn per unit of downside risk
2.73
1.42

+1.31

Omega ratioGain probability vs. loss probability

1.37

1.17

+0.19

Calmar ratioReturn relative to maximum drawdown

3.01

1.14

+1.87

Martin ratioReturn relative to average drawdown

11.22

3.46

+7.76

QQQ vs. JEPI - Sharpe Ratio Comparison

The current QQQ Sharpe Ratio is 2.09, which is higher than the JEPI Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of QQQ 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.

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Drawdowns

QQQ vs. JEPI - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for QQQ and JEPI.

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Drawdown Indicators

QQQJEPIDifference

Max Drawdown

Largest peak-to-trough decline

-82.97%

-13.71%

-69.26%

Max Drawdown (1Y)

Largest decline over 1 year

-11.96%

-6.68%

-5.28%

Max Drawdown (3Y)

Largest decline over 3 years

-22.77%

-13.26%

-9.51%

Max Drawdown (5Y)

Largest decline over 5 years

-35.12%

-13.71%

-21.41%

Max Drawdown (10Y)

Largest decline over 10 years

-35.12%

—

—

Current Drawdown

Current decline from peak

-3.33%

-3.75%

+0.42%

Average Drawdown

Average peak-to-trough decline

-32.75%

-2.13%

-30.62%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.20%

2.20%

+1.00%

Volatility

QQQ vs. JEPI - Volatility Comparison

Invesco QQQ ETF (QQQ) has a higher volatility of 7.56% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.05%. This indicates that QQQ'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.

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Volatility by Period

QQQJEPIDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.56%

2.05%

+5.51%

Volatility (6M)

Calculated over the trailing 6-month period

13.81%

6.23%

+7.58%

Volatility (1Y)

Calculated over the trailing 1-year period

17.19%

8.02%

+9.17%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.55%

11.08%

+11.47%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.38%

10.79%

+11.59%

QQQ vs. JEPI - Expense Ratio Comparison

QQQ has a 0.18% expense ratio, which is lower than JEPI's 0.35% expense ratio.

Dividends

QQQ vs. JEPI - Dividend Comparison

QQQ's dividend yield for the trailing twelve months is around 0.39%, less than JEPI's 8.18% yield.

PositionTTM20252024202320222021202020192018201720162015
JEPI
JPMorgan Equity Premium Income ETF		8.18%8.25%7.33%8.40%11.68%6.59%5.79%0.00%0.00%0.00%0.00%0.00%
QQQ
Invesco QQQ ETF		0.39%0.45%0.56%0.62%0.80%0.43%0.55%0.74%0.91%0.84%1.06%0.99%

Frequently Asked Questions

QQQ 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.

QQQ has higher volatility (7.56%) compared to JEPI (2.05%). In terms of maximum drawdown, QQQ dropped -82.97% vs JEPI's -13.71%.

On 5-year performance, QQQ leads with 16.85% vs 7.45% for JEPI. On fees, QQQ is cheaper at 0.18% per year. On volatility, JEPI has been the lower-risk option at 2.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, QQQ has performed better with a 16.85% return vs 7.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QQQ is cheaper with a 0.18% expense ratio, compared with 0.35% for JEPI.

JEPI has the higher dividend yield at 8.18%, compared with 0.39% for QQQ.

QQQ is categorized as Nasdaq-100, while JEPI is Dividend. They also come from different issuers: Invesco and JPMorgan. Their fees differ too: 0.18% for QQQ and 0.35% for JEPI.

QQQ currently has the higher Sharpe Ratio (2.09 vs 0.95), 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.

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