QQQM vs. JEPQ

Last updated Jun 19, 2026

QQQM (Invesco NASDAQ 100 ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both Nasdaq-100 funds - QQQM tracks the NASDAQ-100 Index while JEPQ tracks the Nasdaq-100 Index. Both are passively managed. Over the past 3 years, QQQM returned 27.05%/yr vs 20.83%/yr for JEPQ. With a 0.97 correlation, they move nearly in lockstep. QQQM charges 0.15%/yr vs 0.35%/yr for JEPQ.

Performance

QQQM vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco NASDAQ 100 ETF (QQQM) 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, QQQM achieves a 20.57% return, which is significantly higher than JEPQ's 10.52% return.

QQQM

• 1D: 2.34%
• 1M: 5.43%
• YTD: 20.57%
• 6M: 21.76%
• 1Y: 40.56%
• 3Y*: 27.05%
• 5Y*: 17.43%
• 10Y*: —

JEPQ

• 1D: 1.61%
• 1M: 3.88%
• YTD: 10.52%
• 6M: 12.01%
• 1Y: 29.09%
• 3Y*: 20.83%
• 5Y*: —
• 10Y*: —

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

QQQM vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
QQQM Invesco NASDAQ 100 ETF	20.57%	20.85%	25.68%	55.01%	-16.02%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.52%	15.18%	24.85%	36.28%	-11.16%

Correlation

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

QQQM vs. JEPQ - Sectors Allocation Comparison

Sectors	QQQM	JEPQ
Technology	58.7%	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	2.6%	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

QQQM vs. JEPQ — Risk / Return Rank

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

QQQM

QQQM Risk / Return Rank: 74
QQQM Sharpe Ratio Rank: 79
QQQM Sortino Ratio Rank: 73
QQQM Omega Ratio Rank: 75
QQQM Calmar Ratio Rank: 72
QQQM Martin Ratio Rank: 73

JEPQ

JEPQ Risk / Return Rank: 77
JEPQ Sharpe Ratio Rank: 78
JEPQ Sortino Ratio Rank: 73
JEPQ Omega Ratio Rank: 82
JEPQ Calmar Ratio Rank: 71
JEPQ Martin Ratio Rank: 84

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.

QQQM vs. JEPQ - Risk-Adjusted Trends Comparison

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

	QQQM	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	2.33	2.28	+0.05
Sortino ratio: Return per unit of downside risk	3.02	3.02	-0.01
Omega ratio: Gain probability vs. loss probability	1.41	1.45	-0.05
Calmar ratio: Return relative to maximum drawdown	3.41	3.31	+0.09
Martin ratio: Return relative to average drawdown	12.66	15.77	-3.10

QQQM vs. JEPQ - Sharpe Ratio Comparison

The current QQQM Sharpe Ratio is 2.33, which is comparable to the JEPQ Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of QQQM 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

QQQM vs. JEPQ - Drawdown Comparison

The maximum QQQM drawdown since its inception was -35.04%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for QQQM and JEPQ.

Drawdown Indicators

	QQQM	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-35.04%	-20.07%	-14.97%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-8.82%	-3.14%
Max Drawdown (3Y) Largest decline over 3 years	-22.70%	-20.07%	-2.63%
Max Drawdown (5Y) Largest decline over 5 years	-35.04%	—	—
Current Drawdown Current decline from peak	-0.88%	0.00%	-0.88%
Average Drawdown Average peak-to-trough decline	-8.21%	-3.40%	-4.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	1.85%	+1.36%

Volatility

QQQM vs. JEPQ - Volatility Comparison

Invesco NASDAQ 100 ETF (QQQM) has a higher volatility of 8.40% compared to JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) at 5.70%. This indicates that QQQM'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

	QQQM	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.40%	5.70%	+2.70%
Volatility (6M) Calculated over the trailing 6-month period	14.20%	10.49%	+3.71%
Volatility (1Y) Calculated over the trailing 1-year period	17.52%	12.83%	+4.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.48%	16.76%	+5.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.27%	16.76%	+5.51%

QQQM vs. JEPQ - Expense Ratio Comparison

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

Dividends

QQQM vs. JEPQ - Dividend Comparison

QQQM's dividend yield for the trailing twelve months is around 0.42%, less than JEPQ's 9.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.98%	10.53%	9.65%	10.03%	9.44%	0.00%	0.00%
QQQM Invesco NASDAQ 100 ETF	0.42%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%

Frequently Asked Questions

Can I hold both QQQM and JEPQ in my portfolio?

With a correlation of 0.96, QQQM 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, QQQM or JEPQ?

QQQM has higher volatility (8.40%) compared to JEPQ (5.70%). In terms of maximum drawdown, QQQM dropped -35.04% vs JEPQ's -20.07%.

Which ETF is better, QQQM or JEPQ?

On 3-year performance, QQQM leads with 27.05% vs 20.83% for JEPQ. On fees, QQQM is cheaper at 0.15% per year. On volatility, JEPQ has been the lower-risk option at 5.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQM or JEPQ?

Over the 3-year period, QQQM has performed better with a 27.05% return vs 20.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQM or JEPQ?

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

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

JEPQ has the higher dividend yield at 9.98%, compared with 0.42% for QQQM.

What is the main difference between QQQM and JEPQ?

QQQM tracks NASDAQ-100 Index, while JEPQ tracks Nasdaq-100 Index. They also come from different issuers: Invesco and JPMorgan. Their fees differ too: 0.15% for QQQM and 0.35% for JEPQ.

Which has better risk-adjusted returns?

QQQM currently has the higher Sharpe Ratio (2.33 vs 2.28), 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.