QYLD vs. JEPI

Last updated Jun 20, 2026

QYLD (Global X NASDAQ 100 Covered Call ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2, while JEPI is a Dividend fund actively managed by JPMorgan. QYLD is passively managed, while JEPI is actively managed. Over the past 5 years, QYLD returned 8.95%/yr vs 7.73%/yr for JEPI. A 0.62 correlation means they provide meaningful diversification when combined. QYLD charges 0.60%/yr vs 0.35%/yr for JEPI.

Performance

QYLD vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X NASDAQ 100 Covered Call ETF (QYLD) 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, QYLD achieves a 10.20% return, which is significantly higher than JEPI's 1.40% return.

QYLD

• 1D: 2.43%
• 1M: 4.04%
• YTD: 10.20%
• 6M: 10.75%
• 1Y: 25.53%
• 3Y*: 14.59%
• 5Y*: 8.95%
• 10Y*: 10.07%

JEPI

• 1D: 0.20%
• 1M: 0.56%
• YTD: 1.40%
• 6M: 1.62%
• 1Y: 9.04%
• 3Y*: 9.01%
• 5Y*: 7.73%
• 10Y*: —

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

QYLD vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
QYLD Global X NASDAQ 100 Covered Call ETF	10.20%	9.28%	19.35%	22.77%	-19.08%	10.41%	18.96%
JEPI JPMorgan Equity Premium Income ETF	1.40%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.39%

Correlation

The correlation between QYLD and JEPI is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (All Time) Calculated using the full available price history since May 21, 2020	0.62

The correlation between QYLD and JEPI shifts across timeframes, from 0.47 (1 year) to 0.64 (5 years), reflecting how their relationship changes across market environments.

QYLD vs. JEPI - Sectors Allocation Comparison

Sectors	QYLD	JEPI
Technology	58.7%	14.5%
Communication Services	14.3%	6.2%
Consumer Cyclical	11.4%	10.1%
Consumer Defensive	6.4%	8.1%
Healthcare	3.7%	12.0%
Industrials	2.6%	9.5%
Utilities	1.2%	4.7%
Basic Materials	1.0%	1.6%
Energy	0.5%	2.7%
Financial Services	0.2%	7.4%
Real Estate	0.1%	2.9%

Return for Risk

QYLD vs. JEPI — Risk / Return Rank

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

QYLD

QYLD Risk / Return Rank: 91
QYLD Sharpe Ratio Rank: 87
QYLD Sortino Ratio Rank: 89
QYLD Omega Ratio Rank: 93
QYLD Calmar Ratio Rank: 90
QYLD Martin Ratio Rank: 95

JEPI

JEPI Risk / Return Rank: 31
JEPI Sharpe Ratio Rank: 33
JEPI Sortino Ratio Rank: 33
JEPI Omega Ratio Rank: 32
JEPI Calmar Ratio Rank: 29
JEPI Martin Ratio Rank: 30

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.

QYLD vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X NASDAQ 100 Covered Call ETF (QYLD) 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.

	QYLD	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	2.70	1.13	+1.57
Sortino ratio: Return per unit of downside risk	3.84	1.68	+2.16
Omega ratio: Gain probability vs. loss probability	1.60	1.21	+0.40
Calmar ratio: Return relative to maximum drawdown	5.16	1.36	+3.80
Martin ratio: Return relative to average drawdown	29.06	4.06	+25.00

QYLD vs. JEPI - Sharpe Ratio Comparison

The current QYLD Sharpe Ratio is 2.70, which is higher than the JEPI Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of QYLD 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

QYLD vs. JEPI - Drawdown Comparison

The maximum QYLD drawdown since its inception was -24.75%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for QYLD and JEPI.

Drawdown Indicators

	QYLD	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-24.75%	-13.71%	-11.04%
Max Drawdown (1Y) Largest decline over 1 year	-4.97%	-6.68%	+1.71%
Max Drawdown (3Y) Largest decline over 3 years	-19.06%	-13.26%	-5.80%
Max Drawdown (5Y) Largest decline over 5 years	-24.61%	-13.71%	-10.90%
Max Drawdown (10Y) Largest decline over 10 years	-24.75%	—	—
Current Drawdown Current decline from peak	0.00%	-3.64%	+3.64%
Average Drawdown Average peak-to-trough decline	-3.83%	-2.13%	-1.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	2.23%	-1.35%

Volatility

QYLD vs. JEPI - Volatility Comparison

Global X NASDAQ 100 Covered Call ETF (QYLD) has a higher volatility of 4.30% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.35%. This indicates that QYLD'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

	QYLD	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.30%	2.35%	+1.95%
Volatility (6M) Calculated over the trailing 6-month period	8.24%	6.30%	+1.94%
Volatility (1Y) Calculated over the trailing 1-year period	9.49%	8.03%	+1.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.81%	11.09%	+3.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.54%	10.79%	+4.75%

QYLD vs. JEPI - Expense Ratio Comparison

QYLD has a 0.60% expense ratio, which is higher than JEPI's 0.35% expense ratio.

Dividends

QYLD vs. JEPI - Dividend Comparison

QYLD's dividend yield for the trailing twelve months is around 11.22%, more than JEPI's 8.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPI JPMorgan Equity Premium Income ETF	8.17%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%	0.00%	0.00%	0.00%	0.00%
QYLD Global X NASDAQ 100 Covered Call ETF	11.22%	11.55%	12.50%	11.78%	13.75%	12.85%	11.16%	9.84%	12.44%	7.69%	9.15%	9.42%

Frequently Asked Questions

Can I hold both QYLD and JEPI in my portfolio?

QYLD and JEPI have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QYLD or JEPI?

QYLD has higher volatility (4.30%) compared to JEPI (2.35%). In terms of maximum drawdown, QYLD dropped -24.75% vs JEPI's -13.71%.

Which ETF is better, QYLD or JEPI?

On 5-year performance, QYLD leads with 8.95% vs 7.73% for JEPI. On fees, JEPI is cheaper at 0.35% per year. On volatility, JEPI has been the lower-risk option at 2.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QYLD or JEPI?

Over the 5-year period, QYLD has performed better with a 8.95% return vs 7.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QYLD or JEPI?

JEPI is cheaper with a 0.35% expense ratio, compared with 0.60% for QYLD.

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

QYLD has the higher dividend yield at 11.22%, compared with 8.17% for JEPI.

What is the main difference between QYLD and JEPI?

QYLD is categorized as Nasdaq-100, while JEPI is Dividend. They also come from different issuers: Global X and JPMorgan. Their fees differ too: 0.60% for QYLD and 0.35% for JEPI.

Which has better risk-adjusted returns?

QYLD currently has the higher Sharpe Ratio (2.70 vs 1.13), 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.