TRP vs. JEPQ

Last updated Jun 24, 2026

TRP (TC Energy Corporation) is a stock, while JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) is Nasdaq-100 fund tracking the Nasdaq-100 Index. Over the past 3 years, TRP returned 32.77%/yr vs 19.79%/yr for JEPQ. At a 0.23 correlation, their price movements are largely independent.

Performance

TRP vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TC Energy Corporation (TRP) 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, TRP achieves a 27.45% return, which is significantly higher than JEPQ's 7.85% return.

TRP

• 1D: 1.43%
• 1M: -2.12%
• YTD: 27.45%
• 6M: 26.96%
• 1Y: 53.76%
• 3Y*: 32.77%
• 5Y*: 15.46%
• 10Y*: 11.94%

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)

TRP vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TRP TC Energy Corporation	27.45%	24.02%	39.88%	6.09%	-21.66%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.85%	15.18%	24.85%	36.28%	-11.16%

Correlation

The correlation between TRP and JEPQ is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.23

The correlation between TRP and JEPQ shifts across timeframes, from -0.06 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TRP vs. JEPQ — Risk / Return Rank

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

TRP

TRP Risk / Return Rank: 95
TRP Sharpe Ratio Rank: 95
TRP Sortino Ratio Rank: 96
TRP Omega Ratio Rank: 94
TRP Calmar Ratio Rank: 93
TRP Martin Ratio Rank: 95

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.

TRP vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TC Energy Corporation (TRP) 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.

	TRP	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	3.07	1.93	+1.14
Sortino ratio: Return per unit of downside risk	4.41	2.57	+1.85
Omega ratio: Gain probability vs. loss probability	1.50	1.38	+0.12
Calmar ratio: Return relative to maximum drawdown	5.60	2.86	+2.74
Martin ratio: Return relative to average drawdown	17.50	13.55	+3.95

TRP vs. JEPQ - Sharpe Ratio Comparison

The current TRP Sharpe Ratio is 3.07, which is higher than the JEPQ Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of TRP 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

TRP vs. JEPQ - Drawdown Comparison

The maximum TRP drawdown since its inception was -62.52%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for TRP and JEPQ.

Drawdown Indicators

	TRP	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-62.52%	-20.07%	-42.45%
Max Drawdown (1Y) Largest decline over 1 year	-9.65%	-8.82%	-0.83%
Max Drawdown (3Y) Largest decline over 3 years	-17.00%	-20.07%	+3.07%
Max Drawdown (5Y) Largest decline over 5 years	-37.05%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.64%	—	—
Current Drawdown Current decline from peak	-2.12%	-2.48%	+0.36%
Average Drawdown Average peak-to-trough decline	-11.72%	-3.40%	-8.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.08%	1.86%	+1.22%

Volatility

TRP vs. JEPQ - Volatility Comparison

The current volatility for TC Energy Corporation (TRP) is 5.59%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 6.27%. This indicates that TRP 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

	TRP	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.59%	6.27%	-0.68%
Volatility (6M) Calculated over the trailing 6-month period	13.29%	10.58%	+2.71%
Volatility (1Y) Calculated over the trailing 1-year period	17.62%	13.08%	+4.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.86%	16.79%	+5.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.84%	16.79%	+8.05%

Dividends

TRP vs. JEPQ - Dividend Comparison

TRP's dividend yield for the trailing twelve months is around 3.58%, less 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%
TRP TC Energy Corporation	3.58%	4.45%	5.93%	7.73%	8.52%	5.94%	5.92%	4.25%	5.85%	5.14%	5.01%	6.38%

Frequently Asked Questions

Can I hold both TRP and JEPQ in my portfolio?

TRP and JEPQ have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TRP or JEPQ?

JEPQ has higher volatility (6.27%) compared to TRP (5.59%). In terms of maximum drawdown, TRP dropped -62.52% vs JEPQ's -20.07%.

Which has better risk-adjusted returns?

TRP currently has the higher Sharpe Ratio (3.07 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.