QVAL vs. JEPQ

Last updated Jun 4, 2026

QVAL (Alpha Architect U.S. Quantitative Value ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - QVAL is a Mid Cap Value Equities fund actively managed by Alpha Architect, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. QVAL is actively managed, while JEPQ is passively managed. Over the past 3 years, QVAL returned 21.66%/yr vs 20.92%/yr for JEPQ. A 0.54 correlation means they provide meaningful diversification when combined. QVAL charges 0.28%/yr vs 0.35%/yr for JEPQ.

Performance

QVAL vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alpha Architect U.S. Quantitative Value ETF (QVAL) 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, QVAL achieves a 14.68% return, which is significantly higher than JEPQ's 9.54% return.

QVAL

• 1D: -0.23%
• 1M: 4.34%
• YTD: 14.68%
• 6M: 15.27%
• 1Y: 29.65%
• 3Y*: 21.66%
• 5Y*: 12.15%
• 10Y*: 11.64%

JEPQ

• 1D: -0.10%
• 1M: 4.31%
• YTD: 9.54%
• 6M: 9.75%
• 1Y: 29.00%
• 3Y*: 20.92%
• 5Y*: —
• 10Y*: —

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

QVAL vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
QVAL Alpha Architect U.S. Quantitative Value ETF	14.68%	10.98%	12.21%	28.40%	-12.93%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.54%	15.18%	24.85%	36.28%	-12.89%

Correlation

The correlation between QVAL and JEPQ 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	0.46
Correlation (All Time) Calculated using the full available price history since May 5, 2022	0.54

The correlation between QVAL and JEPQ shifts across timeframes, from 0.43 (1 year) to 0.54 (all time), reflecting how their relationship changes across market environments.

QVAL vs. JEPQ - Sectors Allocation Comparison

Sectors	QVAL	JEPQ
Consumer Cyclical	32.4%	12.8%
Technology	16.7%	54.0%
Industrials	15.0%	3.1%
Healthcare	11.1%	4.4%
Consumer Defensive	7.9%	7.1%
Basic Materials	7.6%	1.0%
Energy	5.5%	0.4%
Communication Services	3.8%	15.4%
Real Estate	2.0%	0.2%
Financial Services	-	0.4%
Utilities	-	1.3%

Return for Risk

QVAL vs. JEPQ — Risk / Return Rank

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

QVAL

QVAL Risk / Return Rank: 69
QVAL Sharpe Ratio Rank: 60
QVAL Sortino Ratio Rank: 69
QVAL Omega Ratio Rank: 57
QVAL Calmar Ratio Rank: 86
QVAL Martin Ratio Rank: 73

JEPQ

JEPQ Risk / Return Rank: 74
JEPQ Sharpe Ratio Rank: 74
JEPQ Sortino Ratio Rank: 71
JEPQ Omega Ratio Rank: 80
JEPQ Calmar Ratio Rank: 65
JEPQ Martin Ratio Rank: 80

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.

QVAL vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alpha Architect U.S. Quantitative Value ETF (QVAL) 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.

	QVAL	JEPQ	Difference
Sharpe ratio Return per unit of total volatility	2.07	2.49	-0.42
Sortino ratio Return per unit of downside risk	3.21	3.29	-0.08
Omega ratio Gain probability vs. loss probability	1.35	1.49	-0.14
Calmar ratio Return relative to maximum drawdown	4.93	3.31	+1.63
Martin ratio Return relative to average drawdown	13.98	16.22	-2.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QVAL vs. JEPQ - Sharpe Ratio Comparison

The current QVAL Sharpe Ratio is 2.07, which is comparable to the JEPQ Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of QVAL 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.

Sharpe Ratios by Period

	QVAL	JEPQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.07	2.49	-0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	1.00	-0.52

Drawdowns

QVAL vs. JEPQ - Drawdown Comparison

The maximum QVAL drawdown since its inception was -51.49%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for QVAL and JEPQ.

Drawdown Indicators

	QVAL	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-51.49%	-20.07%	-31.42%
Max Drawdown (1Y) Largest decline over 1 year	-6.04%	-8.82%	+2.78%
Max Drawdown (3Y) Largest decline over 3 years	-21.41%	-20.07%	-1.34%
Max Drawdown (5Y) Largest decline over 5 years	-27.17%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-51.49%	—	—
Current Drawdown Current decline from peak	-0.78%	-0.10%	-0.68%
Average Drawdown Average peak-to-trough decline	-7.80%	-3.42%	-4.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	1.79%	+0.34%

Volatility

QVAL vs. JEPQ - Volatility Comparison

Alpha Architect U.S. Quantitative Value ETF (QVAL) has a higher volatility of 4.16% compared to JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) at 1.26%. This indicates that QVAL'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

	QVAL	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.16%	1.26%	+2.90%
Volatility (6M) Calculated over the trailing 6-month period	10.06%	9.07%	+0.99%
Volatility (1Y) Calculated over the trailing 1-year period	14.44%	11.73%	+2.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.63%	16.61%	+5.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.79%	16.61%	+6.18%

QVAL vs. JEPQ - Expense Ratio Comparison

QVAL has a 0.28% expense ratio, which is lower than JEPQ's 0.35% expense ratio.

Dividends

QVAL vs. JEPQ - Dividend Comparison

QVAL's dividend yield for the trailing twelve months is around 1.46%, less than JEPQ's 10.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.07%	10.53%	9.65%	10.03%	9.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QVAL Alpha Architect U.S. Quantitative Value ETF	1.46%	1.44%	1.72%	1.76%	2.00%	1.23%	1.86%	1.99%	1.64%	1.08%	1.30%

Frequently Asked Questions

Can I hold both QVAL and JEPQ in my portfolio?

QVAL and JEPQ 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.

Which is riskier, QVAL or JEPQ?

QVAL has higher volatility (4.16%) compared to JEPQ (1.26%). In terms of maximum drawdown, QVAL dropped -51.49% vs JEPQ's -20.07%.

Which ETF is better, QVAL or JEPQ?

On 3-year performance, QVAL leads with 21.66% vs 20.92% for JEPQ. On fees, QVAL is cheaper at 0.28% per year. On volatility, JEPQ has been the lower-risk option at 1.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QVAL or JEPQ?

Over the 3-year period, QVAL has performed better with a 21.66% return vs 20.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QVAL or JEPQ?

QVAL is cheaper with a 0.28% expense ratio, compared with 0.35% for JEPQ.

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

JEPQ has the higher dividend yield at 10.07%, compared with 1.46% for QVAL.

What is the main difference between QVAL and JEPQ?

QVAL is categorized as Mid Cap Value Equities, while JEPQ is Nasdaq-100. They also come from different issuers: Alpha Architect and JPMorgan. Their fees differ too: 0.28% for QVAL and 0.35% for JEPQ.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.49 vs 2.07), 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.