USD=X vs. JEPQ

Last updated Apr 3, 2026

Compare and contrast key facts about USD Cash (USD=X) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ).

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

USD=X vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USD Cash (USD=X) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). The values are adjusted to include any dividend payments, if applicable.

USD=X vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
USD=X USD Cash	0.00%	0.00%	0.00%	0.00%	0.00%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	-1.76%	15.18%	24.85%	36.28%	-12.89%

Returns By Period

USD=X

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 0.00%
• 3Y*: 0.00%
• 5Y*: 0.00%
• 10Y*: 0.00%

JEPQ

• 1D: 0.13%
• 1M: -1.64%
• YTD: -1.76%
• 6M: 2.43%
• 1Y: 19.67%
• 3Y*: 19.59%
• 5Y*: —
• 10Y*: —

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

Return for Risk

USD=X vs. JEPQ — Risk / Return Rank

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

JEPQ

JEPQ Risk / Return Rank: 63
JEPQ Sharpe Ratio Rank: 56
JEPQ Sortino Ratio Rank: 59
JEPQ Omega Ratio Rank: 68
JEPQ Calmar Ratio Rank: 59
JEPQ Martin Ratio Rank: 72

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.

USD=X vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USD Cash (USD=X) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	USD=X	JEPQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.07	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.84	—

Drawdowns

USD=X vs. JEPQ - Drawdown Comparison

The maximum USD=X drawdown since its inception was 0.00%, smaller than the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for USD=X and JEPQ.

Drawdown Indicators

	USD=X	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-20.07%	+20.07%
Max Drawdown (1Y) Largest decline over 1 year	0.00%	-8.82%	+8.82%
Max Drawdown (5Y) Largest decline over 5 years	0.00%	—	—
Max Drawdown (10Y) Largest decline over 10 years	0.00%	—	—
Current Drawdown Current decline from peak	0.00%	-4.77%	+4.77%
Average Drawdown Average peak-to-trough decline	0.00%	-3.55%	+3.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	2.38%	-2.38%

Volatility

USD=X vs. JEPQ - Volatility Comparison

The current volatility for USD Cash (USD=X) is 0.00%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 5.94%. This indicates that USD=X 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

	USD=X	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	5.94%	-5.94%
Volatility (6M) Calculated over the trailing 6-month period	0.00%	10.52%	-10.52%
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	18.53%	-18.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	16.90%	-16.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	16.90%	-16.90%