QQQM vs. JEPI

Last updated Aug 1, 2026

QQQM (Invesco NASDAQ 100 ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while JEPI is a Dividend fund actively managed by JPMorgan. QQQM is passively managed, while JEPI is actively managed. Over the past 5 years, QQQM returned 14.31%/yr vs 7.40%/yr for JEPI. Their 0.60 correlation means they have sometimes moved together and sometimes differently. QQQM charges 0.15%/yr vs 0.35%/yr for JEPI.

Performance

QQQM vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco NASDAQ 100 ETF (QQQM) 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, QQQM achieves a 12.29% return, which is significantly higher than JEPI's 4.52% return.

QQQM

• 1D: 0.69%
• 1M: -5.13%
• 6M: 10.92%
• YTD: 12.29%
• 1Y: 22.42%
• 3Y*: 22.37%
• 5Y*: 14.31%
• 10Y*: —
• ALL TIME*: 16.51%

JEPI

• 1D: 0.33%
• 1M: 2.33%
• 6M: 2.16%
• YTD: 4.52%
• 1Y: 10.15%
• 3Y*: 9.21%
• 5Y*: 7.40%
• 10Y*: —
• ALL TIME*: 11.29%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JEPI JPMorgan Equity Premium Income ETF	$260.98M	$260.42M	$297.70M
QQQM Invesco NASDAQ 100 ETF	$962.22M	$908.74M	$1.19B

QQQM vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
QQQM Invesco NASDAQ 100 ETF	12.29%	20.85%	25.68%	55.01%	-32.52%	27.45%	6.64%
JEPI JPMorgan Equity Premium Income ETF	4.52%	8.09%	12.57%	9.83%	-3.49%	21.52%	5.48%

Correlation

The correlation between QQQM and JEPI is 0.38, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.38
Correlation (3Y) Balances recent behavior with more history.	0.55
Correlation (5Y) Shows whether the relationship held over a longer period.	0.61
Correlation (All Time) Calculated using the full available price history since Oct 13, 2020	0.60

Over the past year, the correlation between QQQM and JEPI has dropped to 0.38 - well below their long-term average of 0.60, suggesting their price drivers have been diverging.

QQQM vs. JEPI - Sectors Allocation Comparison

Sectors	QQQM	JEPI
Technology	60.9%	15.3%
Communication Services	13.1%	6.2%
Consumer Cyclical	10.7%	10.0%
Consumer Defensive	6.3%	7.8%
Healthcare	3.6%	12.8%
Industrials	2.7%	10.7%
Utilities	1.1%	4.8%
Basic Materials	1.0%	1.6%
Energy	0.5%	2.5%
Financial Services	0.2%	9.1%
Real Estate	0.1%	2.6%

Return for Risk

QQQM vs. JEPI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QQQM

QQQM Risk / Return Rank: 49
QQQM Sharpe Ratio Rank: 48
QQQM Sortino Ratio Rank: 46
QQQM Omega Ratio Rank: 45
QQQM Calmar Ratio Rank: 54
QQQM Martin Ratio Rank: 52

JEPI

JEPI Risk / Return Rank: 48
JEPI Sharpe Ratio Rank: 52
JEPI Sortino Ratio Rank: 53
JEPI Omega Ratio Rank: 52
JEPI Calmar Ratio Rank: 43
JEPI Martin Ratio Rank: 41

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QQQM vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ 100 ETF (QQQM) 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.

	QQQM	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	1.17	1.25	-0.08
Sortino ratio: Return per unit of downside risk	1.66	1.85	-0.19
Omega ratio: Gain probability vs. loss probability	1.21	1.23	-0.02
Calmar ratio: Return relative to maximum drawdown	1.88	1.52	+0.36
Martin ratio: Return relative to average drawdown	6.01	4.32	+1.69

QQQM vs. JEPI - Sharpe Ratio Comparison

The current QQQM Sharpe Ratio is 1.17, which is comparable to the JEPI Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of QQQM 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.

Drawdowns

QQQM vs. JEPI - Drawdown Comparison

The maximum QQQM drawdown since its inception was -35.04%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for QQQM and JEPI.

Drawdown Indicators

	QQQM	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-35.04%	-13.71%	-21.33%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-6.68%	-5.28%
Max Drawdown (3Y) Largest decline over 3 years	-22.70%	-13.26%	-9.44%
Max Drawdown (5Y) Largest decline over 5 years	-35.04%	-13.71%	-21.33%
Current Drawdown Current decline from peak	-7.69%	-0.68%	-7.01%
Average Drawdown Average peak-to-trough decline	-8.15%	-2.13%	-6.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.74%	2.36%	+1.38%

Volatility

QQQM vs. JEPI - Volatility Comparison

Invesco NASDAQ 100 ETF (QQQM) has a higher volatility of 6.83% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.38%. This indicates that QQQM'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

	QQQM	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.83%	2.38%	+4.45%
Volatility (6M) Calculated over the trailing 6-month period	15.91%	6.37%	+9.54%
Volatility (1Y) Calculated over the trailing 1-year period	19.24%	8.15%	+11.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.74%	11.10%	+11.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.32%	10.73%	+11.59%

QQQM vs. JEPI - Expense Ratio Comparison

QQQM has a 0.15% expense ratio, which is lower than JEPI's 0.35% expense ratio.

Dividends

QQQM vs. JEPI - Dividend Comparison

QQQM's dividend yield for the trailing twelve months is around 0.46%, less than JEPI's 7.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
JEPI JPMorgan Equity Premium Income ETF	7.96%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%
QQQM Invesco NASDAQ 100 ETF	0.46%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%

Frequently Asked Questions

Can I hold both QQQM and JEPI in my portfolio?

QQQM and JEPI have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQM or JEPI?

QQQM has higher volatility (6.83%) compared to JEPI (2.38%). In terms of maximum drawdown, QQQM dropped -35.04% vs JEPI's -13.71%.

Which ETF is better, QQQM or JEPI?

On 5-year performance, QQQM leads with 14.31% vs 7.40% for JEPI. On fees, QQQM is cheaper at 0.15% per year. On volatility, JEPI has been the lower-risk option at 2.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQM or JEPI?

Over the 5-year period, QQQM has performed better with a 14.31% return vs 7.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQM or JEPI?

QQQM is cheaper with a 0.15% expense ratio, compared with 0.35% for JEPI.

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

JEPI has the higher dividend yield at 7.96%, compared with 0.46% for QQQM.

What is the main difference between QQQM and JEPI?

QQQM is categorized as Nasdaq-100, while JEPI is Dividend. They also come from different issuers: Invesco and JPMorgan. Their fees differ too: 0.15% for QQQM and 0.35% for JEPI.

Which has better risk-adjusted returns?

JEPI currently has the higher Sharpe Ratio (1.25 vs 1.17), 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.