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QQQ vs. JEPQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QQQ vs. JEPQ

Last updated Jun 13, 2026

QQQ (Invesco QQQ ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both Nasdaq-100 funds - QQQ tracks the NASDAQ-100 Index while JEPQ tracks the Nasdaq-100 Index. Both are passively managed. Over the past 3 years, QQQ returned 26.43%/yr vs 19.91%/yr for JEPQ. With a 0.97 correlation, they move nearly in lockstep. QQQ charges 0.18%/yr vs 0.35%/yr for JEPQ.

Performance

QQQ vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ ETF (QQQ) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). 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 JEPQ's 7.85% 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%

JEPQ

1D
0.62%
1M
0.88%
YTD
7.85%
6M
8.80%
1Y
25.53%
3Y*
19.91%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

QQQ vs. JEPQ - Yearly Performance Comparison

2026 (YTD)2025202420232022
QQQ
Invesco QQQ ETF		17.57%20.77%25.58%54.86%-15.97%
JEPQ
JPMorgan Nasdaq Equity Premium Income ETF		7.85%15.18%24.85%36.28%-11.16%

Correlation

The correlation between QQQ and JEPQ is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.96

Correlation (3Y)
Calculated over the trailing 3-year period

0.97

Correlation (All Time)
Calculated using the full available price history since May 4, 2022

0.97

The correlation between QQQ and JEPQ has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

QQQ vs. JEPQ - Sectors Allocation Comparison

Sectors
QQQ
JEPQ

Technology

53.8%
54.0%

Communication Services

15.8%
15.4%

Consumer Cyclical

12.3%
12.8%

Consumer Defensive

7.7%
7.1%

Healthcare

4.2%
4.4%

Industrials

2.8%
3.1%

Utilities

1.4%
1.3%

Basic Materials

1.1%
1.0%

Energy

0.6%
0.4%

Financial Services

0.2%
0.4%

Real Estate

0.1%
0.2%

Technology

QQQ
53.8%
JEPQ
54.0%

Communication Services

QQQ
15.8%
JEPQ
15.4%

Consumer Cyclical

QQQ
12.3%
JEPQ
12.8%

Consumer Defensive

QQQ
7.7%
JEPQ
7.1%

Healthcare

QQQ
4.2%
JEPQ
4.4%

Industrials

QQQ
2.8%
JEPQ
3.1%

Utilities

QQQ
1.4%
JEPQ
1.3%

Basic Materials

QQQ
1.1%
JEPQ
1.0%

Energy

QQQ
0.6%
JEPQ
0.4%

Financial Services

QQQ
0.2%
JEPQ
0.4%

Real Estate

QQQ
0.1%
JEPQ
0.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco QQQ ETF

JPMorgan Nasdaq Equity Premium Income ETF

Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. QQQI
Often compared with JEPQ:
JEPQ vs. JEPIJEPQ vs. QQQIJEPQ vs. SCHDJEPQ vs. QYLDJEPQ vs. GPIQJEPQ vs. SPYIJEPQ vs. QQQM

Return for Risk

QQQ vs. JEPQ — 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
JEPQ
JEPQ Risk / Return Rank: 7474
Overall Rank
JEPQ Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
JEPQ Sortino Ratio Rank: 6969
Sortino Ratio Rank
JEPQ Omega Ratio Rank: 7979
Omega Ratio Rank
JEPQ Calmar Ratio Rank: 6666
Calmar Ratio Rank
JEPQ Martin Ratio Rank: 8181
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. JEPQ - Risk-Adjusted Trends Comparison

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

QQQJEPQDifference
Sharpe ratioReturn per unit of total volatility
2.09
2.03

+0.06

Sortino ratioReturn per unit of downside risk
2.73
2.69

+0.04

Omega ratioGain probability vs. loss probability

1.37

1.40

-0.03

Calmar ratioReturn relative to maximum drawdown

3.01

2.91

+0.10

Martin ratioReturn relative to average drawdown

11.22

13.84

-2.61

QQQ vs. JEPQ - Sharpe Ratio Comparison

The current QQQ Sharpe Ratio is 2.09, which is comparable to the JEPQ Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of QQQ 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.

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Drawdowns

QQQ vs. JEPQ - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for QQQ and JEPQ.

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Drawdown Indicators

QQQJEPQDifference

Max Drawdown

Largest peak-to-trough decline

-82.97%

-20.07%

-62.90%

Max Drawdown (1Y)

Largest decline over 1 year

-11.96%

-8.82%

-3.14%

Max Drawdown (3Y)

Largest decline over 3 years

-22.77%

-20.07%

-2.70%

Max Drawdown (5Y)

Largest decline over 5 years

-35.12%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-35.12%

—

—

Current Drawdown

Current decline from peak

-3.33%

-1.64%

-1.69%

Average Drawdown

Average peak-to-trough decline

-32.75%

-3.41%

-29.34%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.20%

1.85%

+1.35%

Volatility

QQQ vs. JEPQ - Volatility Comparison

Invesco QQQ ETF (QQQ) has a higher volatility of 7.56% compared to JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) at 4.98%. This indicates that QQQ'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.

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Volatility by Period

QQQJEPQDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.56%

4.98%

+2.58%

Volatility (6M)

Calculated over the trailing 6-month period

13.81%

10.22%

+3.59%

Volatility (1Y)

Calculated over the trailing 1-year period

17.19%

12.61%

+4.58%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.55%

16.73%

+5.82%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.38%

16.73%

+5.65%

QQQ vs. JEPQ - Expense Ratio Comparison

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

Dividends

QQQ vs. JEPQ - Dividend Comparison

QQQ's dividend yield for the trailing twelve months is around 0.39%, less than JEPQ's 10.22% yield.

PositionTTM20252024202320222021202020192018201720162015
JEPQ
JPMorgan Nasdaq Equity Premium Income ETF		10.22%10.53%9.65%10.03%9.44%0.00%0.00%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

With a correlation of 0.96, QQQ 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.

QQQ has higher volatility (7.56%) compared to JEPQ (4.98%). In terms of maximum drawdown, QQQ dropped -82.97% vs JEPQ's -20.07%.

On 3-year performance, QQQ leads with 26.43% vs 19.91% for JEPQ. On fees, QQQ is cheaper at 0.18% per year. On volatility, JEPQ has been the lower-risk option at 4.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, QQQ has performed better with a 26.43% return vs 19.91%. 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 JEPQ.

JEPQ has the higher dividend yield at 10.22%, compared with 0.39% for QQQ.

QQQ tracks NASDAQ-100 Index, while JEPQ tracks Nasdaq-100 Index. They also come from different issuers: Invesco and JPMorgan. Their fees differ too: 0.18% for QQQ and 0.35% for JEPQ.

QQQ currently has the higher Sharpe Ratio (2.09 vs 2.03), 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.

Portfolio Optimizer

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