UMAX.TO vs. JEPQ

Last updated Apr 1, 2026

Compare and contrast key facts about Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.TO) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ).

UMAX.TO and JEPQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UMAX.TO is an actively managed fund by Hamilton Capital. It was launched on Jun 14, 2023. JEPQ is a passively managed fund by JPMorgan that tracks the performance of the Nasdaq-100 Index. It was launched on May 3, 2022.

Performance

UMAX.TO vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.TO) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). The values are adjusted to include any dividend payments, if applicable.

UMAX.TO vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF	4.87%	9.95%	5.97%	0.81%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	-1.55%	9.89%	35.57%	10.96%

Different Trading Currencies

UMAX.TO is traded in CAD, while JEPQ is traded in USD. To make them comparable, the JEPQ values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, UMAX.TO achieves a 4.87% return, which is significantly higher than JEPQ's -1.55% return.

UMAX.TO

• 1D: -0.84%
• 1M: -2.21%
• YTD: 4.87%
• 6M: 5.47%
• 1Y: 11.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: 3.14%
• 1M: -1.59%
• YTD: -1.55%
• 6M: 1.56%
• 1Y: 15.82%
• 3Y*: 20.19%
• 5Y*: —
• 10Y*: —

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

UMAX.TO vs. JEPQ - Expense Ratio Comparison

UMAX.TO has a 0.65% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

UMAX.TO

Hamilton Utilities YIELD MAXIMIZER ETF

JEPQ

JPMorgan Nasdaq Equity Premium Income ETF

Return for Risk

UMAX.TO vs. JEPQ — Risk / Return Rank

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

UMAX.TO

UMAX.TO Risk / Return Rank: 78
UMAX.TO Sharpe Ratio Rank: 79
UMAX.TO Sortino Ratio Rank: 79
UMAX.TO Omega Ratio Rank: 76
UMAX.TO Calmar Ratio Rank: 74
UMAX.TO Martin Ratio Rank: 81

JEPQ

JEPQ Risk / Return Rank: 72
JEPQ Sharpe Ratio Rank: 65
JEPQ Sortino Ratio Rank: 68
JEPQ Omega Ratio Rank: 75
JEPQ Calmar Ratio Rank: 72
JEPQ Martin Ratio Rank: 82

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.

UMAX.TO vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.TO) 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.

	UMAX.TO	JEPQ	Difference
Sharpe ratio Return per unit of total volatility	1.44	0.87	+0.57
Sortino ratio Return per unit of downside risk	2.00	1.30	+0.71
Omega ratio Gain probability vs. loss probability	1.28	1.21	+0.07
Calmar ratio Return relative to maximum drawdown	1.85	1.44	+0.41
Martin ratio Return relative to average drawdown	8.59	6.00	+2.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UMAX.TO vs. JEPQ - Sharpe Ratio Comparison

The current UMAX.TO Sharpe Ratio is 1.44, which is higher than the JEPQ Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of UMAX.TO and JEPQ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	UMAX.TO	JEPQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.44	0.87	+0.57
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	1.06	-0.16

Correlation

The correlation between UMAX.TO and JEPQ is 0.05, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

UMAX.TO vs. JEPQ - Dividend Comparison

UMAX.TO's dividend yield for the trailing twelve months is around 13.09%, more than JEPQ's 11.10% yield.

	TTM	2025	2024	2023	2022
UMAX.TO Hamilton Utilities YIELD MAXIMIZER ETF	13.09%	14.86%	14.81%	6.96%	0.00%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	11.10%	10.53%	9.65%	10.03%	9.44%

Drawdowns

UMAX.TO vs. JEPQ - Drawdown Comparison

The maximum UMAX.TO drawdown since its inception was -10.09%, smaller than the maximum JEPQ drawdown of -19.88%. Use the drawdown chart below to compare losses from any high point for UMAX.TO and JEPQ.

Drawdown Indicators

	UMAX.TO	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-10.09%	-20.07%	+9.98%
Max Drawdown (1Y) Largest decline over 1 year	-6.23%	-11.58%	+5.35%
Current Drawdown Current decline from peak	-2.84%	-5.85%	+3.01%
Average Drawdown Average peak-to-trough decline	-2.05%	-3.55%	+1.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.39%	2.34%	-0.95%

Volatility

UMAX.TO vs. JEPQ - Volatility Comparison

The current volatility for Hamilton Utilities YIELD MAXIMIZER ETF (UMAX.TO) is 2.22%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 5.91%. This indicates that UMAX.TO 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

	UMAX.TO	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.22%	5.91%	-3.69%
Volatility (6M) Calculated over the trailing 6-month period	4.78%	10.48%	-5.70%
Volatility (1Y) Calculated over the trailing 1-year period	7.81%	18.27%	-10.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.68%	15.54%	-6.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.68%	15.54%	-6.86%