USFR vs. JEPQ

Last updated Jun 16, 2026

USFR (WisdomTree Floating Rate Treasury Fund) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Both are passively managed. Over the past 3 years, USFR returned 4.74%/yr vs 20.72%/yr for JEPQ. At a correlation of -0.04, they often move in opposite directions. USFR charges 0.15%/yr vs 0.35%/yr for JEPQ.

Performance

USFR vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Floating Rate Treasury Fund (USFR) 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, USFR achieves a 1.72% return, which is significantly lower than JEPQ's 10.23% return.

USFR

• 1D: 0.00%
• 1M: 0.29%
• YTD: 1.72%
• 6M: 1.92%
• 1Y: 4.01%
• 3Y*: 4.74%
• 5Y*: 3.70%
• 10Y*: 2.42%

JEPQ

• 1D: 2.21%
• 1M: 3.31%
• YTD: 10.23%
• 6M: 11.56%
• 1Y: 29.39%
• 3Y*: 20.72%
• 5Y*: —
• 10Y*: —

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

USFR vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
USFR WisdomTree Floating Rate Treasury Fund	1.72%	4.23%	5.47%	5.18%	1.55%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.23%	15.18%	24.85%	36.28%	-11.16%

Correlation

The correlation between USFR and JEPQ is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (3Y) Calculated over the trailing 3-year period	-0.04
Correlation (All Time) Calculated using the full available price history since May 4, 2022	-0.04

Return for Risk

USFR vs. JEPQ — Risk / Return Rank

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

USFR

USFR Risk / Return Rank: 100
USFR Sharpe Ratio Rank: 100
USFR Sortino Ratio Rank: 100
USFR Omega Ratio Rank: 100
USFR Calmar Ratio Rank: 100
USFR Martin Ratio Rank: 100

JEPQ

JEPQ Risk / Return Rank: 81
JEPQ Sharpe Ratio Rank: 81
JEPQ Sortino Ratio Rank: 77
JEPQ Omega Ratio Rank: 85
JEPQ Calmar Ratio Rank: 73
JEPQ Martin Ratio Rank: 86

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.

USFR vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Floating Rate Treasury Fund (USFR) 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.

	USFR	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	14.85	2.31	+12.53
Sortino ratio: Return per unit of downside risk	50.39	3.06	+47.33
Omega ratio: Gain probability vs. loss probability	13.37	1.46	+11.91
Calmar ratio: Return relative to maximum drawdown	202.37	3.35	+199.03
Martin ratio: Return relative to average drawdown	783.80	15.94	+767.86

USFR vs. JEPQ - Sharpe Ratio Comparison

The current USFR Sharpe Ratio is 14.85, which is higher than the JEPQ Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of USFR 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

USFR vs. JEPQ - Drawdown Comparison

The maximum USFR drawdown since its inception was -1.36%, smaller than the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for USFR and JEPQ.

Drawdown Indicators

	USFR	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-1.36%	-20.07%	+18.71%
Max Drawdown (1Y) Largest decline over 1 year	-0.02%	-8.82%	+8.80%
Max Drawdown (3Y) Largest decline over 3 years	-0.06%	-20.07%	+20.01%
Max Drawdown (5Y) Largest decline over 5 years	-0.18%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-0.80%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.16%	-3.41%	+3.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	1.85%	-1.84%

Volatility

USFR vs. JEPQ - Volatility Comparison

The current volatility for WisdomTree Floating Rate Treasury Fund (USFR) is 0.08%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 5.42%. This indicates that USFR 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

	USFR	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.08%	5.42%	-5.34%
Volatility (6M) Calculated over the trailing 6-month period	0.19%	10.44%	-10.25%
Volatility (1Y) Calculated over the trailing 1-year period	0.27%	12.78%	-12.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.40%	16.76%	-16.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.78%	16.76%	-15.98%

USFR vs. JEPQ - Expense Ratio Comparison

USFR has a 0.15% expense ratio, which is lower than JEPQ's 0.35% expense ratio.

Dividends

USFR vs. JEPQ - Dividend Comparison

USFR's dividend yield for the trailing twelve months is around 3.91%, less than JEPQ's 10.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.00%	10.53%	9.65%	10.03%	9.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USFR WisdomTree Floating Rate Treasury Fund	3.91%	4.15%	5.17%	5.12%	1.78%	0.01%	0.40%	2.08%	1.67%	1.03%	0.29%

Frequently Asked Questions

Can I hold both USFR and JEPQ in my portfolio?

USFR and JEPQ have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USFR or JEPQ?

JEPQ has higher volatility (5.42%) compared to USFR (0.08%). In terms of maximum drawdown, USFR dropped -1.36% vs JEPQ's -20.07%.

Which ETF is better, USFR or JEPQ?

On 3-year performance, JEPQ leads with 20.72% vs 4.74% for USFR. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USFR or JEPQ?

Over the 3-year period, JEPQ has performed better with a 20.72% return vs 4.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USFR or JEPQ?

USFR is cheaper with a 0.15% expense ratio, compared with 0.35% for JEPQ.

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

JEPQ has the higher dividend yield at 10.00%, compared with 3.91% for USFR.

What is the main difference between USFR and JEPQ?

USFR is categorized as Government Bonds, while JEPQ is Nasdaq-100. USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index, while JEPQ tracks Nasdaq-100 Index. They also come from different issuers: WisdomTree and JPMorgan. Their fees differ too: 0.15% for USFR and 0.35% for JEPQ.

Which has better risk-adjusted returns?

USFR currently has the higher Sharpe Ratio (14.85 vs 2.31), 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.