QYLD vs. JEPQ

Last updated Jun 24, 2026

QYLD (Global X NASDAQ 100 Covered Call ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both Nasdaq-100 funds - QYLD tracks the CBOE NASDAQ-100 Buy Write V2 while JEPQ tracks the Nasdaq-100 Index. Both are passively managed. Over the past 3 years, QYLD returned 13.99%/yr vs 19.79%/yr for JEPQ. Their correlation of 0.91 suggests significant overlap in exposure. QYLD charges 0.60%/yr vs 0.35%/yr for JEPQ.

Performance

QYLD vs. JEPQ - 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 Nasdaq Equity Premium Income ETF (JEPQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with QYLD having a 7.89% return and JEPQ slightly lower at 7.85%.

QYLD

• 1D: -1.97%
• 1M: 1.41%
• YTD: 7.89%
• 6M: 7.59%
• 1Y: 22.55%
• 3Y*: 13.99%
• 5Y*: 8.26%
• 10Y*: 9.99%

JEPQ

• 1D: -2.48%
• 1M: 0.34%
• YTD: 7.85%
• 6M: 7.02%
• 1Y: 25.10%
• 3Y*: 19.79%
• 5Y*: —
• 10Y*: —

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

QYLD vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
QYLD Global X NASDAQ 100 Covered Call ETF	7.89%	9.28%	19.35%	22.77%	-12.22%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.85%	15.18%	24.85%	36.28%	-11.16%

Correlation

The correlation between QYLD and JEPQ is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.91

The correlation between QYLD and JEPQ has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

QYLD vs. JEPQ - Sectors Allocation Comparison

Sectors	QYLD	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

QYLD vs. JEPQ — Risk / Return Rank

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

QYLD

QYLD Risk / Return Rank: 84
QYLD Sharpe Ratio Rank: 76
QYLD Sortino Ratio Rank: 77
QYLD Omega Ratio Rank: 87
QYLD Calmar Ratio Rank: 85
QYLD Martin Ratio Rank: 94

JEPQ

JEPQ Risk / Return Rank: 63
JEPQ Sharpe Ratio Rank: 60
JEPQ Sortino Ratio Rank: 55
JEPQ Omega Ratio Rank: 66
JEPQ Calmar Ratio Rank: 60
JEPQ Martin Ratio Rank: 74

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. JEPQ - 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 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.

	QYLD	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	2.34	1.93	+0.41
Sortino ratio: Return per unit of downside risk	3.28	2.57	+0.71
Omega ratio: Gain probability vs. loss probability	1.52	1.38	+0.14
Calmar ratio: Return relative to maximum drawdown	4.56	2.86	+1.70
Martin ratio: Return relative to average drawdown	25.38	13.55	+11.83

QYLD vs. JEPQ - Sharpe Ratio Comparison

The current QYLD Sharpe Ratio is 2.34, which is comparable to the JEPQ Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of QYLD 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

QYLD vs. JEPQ - Drawdown Comparison

The maximum QYLD drawdown since its inception was -24.75%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for QYLD and JEPQ.

Drawdown Indicators

	QYLD	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-24.75%	-20.07%	-4.68%
Max Drawdown (1Y) Largest decline over 1 year	-4.97%	-8.82%	+3.85%
Max Drawdown (3Y) Largest decline over 3 years	-19.06%	-20.07%	+1.01%
Max Drawdown (5Y) Largest decline over 5 years	-24.61%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-24.75%	—	—
Current Drawdown Current decline from peak	-2.10%	-2.48%	+0.38%
Average Drawdown Average peak-to-trough decline	-3.82%	-3.40%	-0.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	1.86%	-0.97%

Volatility

QYLD vs. JEPQ - Volatility Comparison

The current volatility for Global X NASDAQ 100 Covered Call ETF (QYLD) is 4.78%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 6.27%. This indicates that QYLD experiences smaller price fluctuations and is considered to be less risky than JEPQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QYLD	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.78%	6.27%	-1.49%
Volatility (6M) Calculated over the trailing 6-month period	8.50%	10.58%	-2.08%
Volatility (1Y) Calculated over the trailing 1-year period	9.70%	13.08%	-3.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.84%	16.79%	-1.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.56%	16.79%	-1.23%

QYLD vs. JEPQ - Expense Ratio Comparison

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

Dividends

QYLD vs. JEPQ - Dividend Comparison

QYLD's dividend yield for the trailing twelve months is around 11.68%, more than JEPQ's 10.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
QYLD Global X NASDAQ 100 Covered Call ETF	11.68%	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 JEPQ in my portfolio?

With a correlation of 0.90, QYLD 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, QYLD or JEPQ?

JEPQ has higher volatility (6.27%) compared to QYLD (4.78%). In terms of maximum drawdown, QYLD dropped -24.75% vs JEPQ's -20.07%.

Which ETF is better, QYLD or JEPQ?

On 3-year performance, JEPQ leads with 19.79% vs 13.99% for QYLD. On fees, JEPQ is cheaper at 0.35% per year. On volatility, QYLD has been the lower-risk option at 4.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QYLD or JEPQ?

Over the 3-year period, JEPQ has performed better with a 19.79% return vs 13.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QYLD or JEPQ?

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

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

QYLD has the higher dividend yield at 11.68%, compared with 10.22% for JEPQ.

What is the main difference between QYLD and JEPQ?

QYLD tracks CBOE NASDAQ-100 Buy Write V2, while JEPQ tracks Nasdaq-100 Index. They also come from different issuers: Global X and JPMorgan. Their fees differ too: 0.60% for QYLD and 0.35% for JEPQ.

Which has better risk-adjusted returns?

QYLD currently has the higher Sharpe Ratio (2.34 vs 1.93), 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.