VWENX vs. JEPQ

Last updated Jun 13, 2026

VWENX (Vanguard Wellington Fund Admiral Shares) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both funds - VWENX is a Diversified Portfolio fund actively managed by Vanguard, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. VWENX is actively managed, while JEPQ is passively managed. Over the past 3 years, VWENX returned 14.75%/yr vs 19.91%/yr for JEPQ. Their correlation of 0.88 suggests significant overlap in exposure. VWENX charges 0.16%/yr vs 0.35%/yr for JEPQ.

Performance

VWENX vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Wellington Fund Admiral Shares (VWENX) 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, VWENX achieves a 5.10% return, which is significantly lower than JEPQ's 7.85% return.

VWENX

• 1D: 1.32%
• 1M: -0.63%
• YTD: 5.10%
• 6M: 5.87%
• 1Y: 17.34%
• 3Y*: 14.75%
• 5Y*: 8.43%
• 10Y*: 10.13%

JEPQ

• 1D: 0.62%
• 1M: 0.88%
• YTD: 7.85%
• 6M: 8.80%
• 1Y: 25.53%
• 3Y*: 19.91%
• 5Y*: —
• 10Y*: —

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

VWENX vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
VWENX Vanguard Wellington Fund Admiral Shares	5.10%	16.63%	14.82%	14.40%	-2.75%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.85%	15.18%	24.85%	36.28%	-11.16%

Correlation

The correlation between VWENX and JEPQ is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.88

The correlation between VWENX and JEPQ has been stable across timeframes, ranging from 0.88 to 0.89 - a consistent structural relationship.

VWENX vs. JEPQ - Sectors Allocation Comparison

Sectors	VWENX	JEPQ
Technology	31.8%	54.0%
Communication Services	12.3%	15.4%
Consumer Cyclical	10.9%	12.8%
Financial Services	10.6%	0.4%
Healthcare	9.8%	4.4%
Industrials	8.5%	3.1%
Consumer Defensive	4.4%	7.1%
Energy	4.4%	0.4%
Real Estate	2.6%	0.2%
Utilities	2.5%	1.3%
Basic Materials	2.1%	1.0%

Return for Risk

VWENX vs. JEPQ — Risk / Return Rank

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

VWENX

VWENX Risk / Return Rank: 74
VWENX Sharpe Ratio Rank: 74
VWENX Sortino Ratio Rank: 72
VWENX Omega Ratio Rank: 73
VWENX Calmar Ratio Rank: 70
VWENX Martin Ratio Rank: 81

JEPQ

JEPQ Risk / Return Rank: 74
JEPQ Sharpe Ratio Rank: 73
JEPQ Sortino Ratio Rank: 69
JEPQ Omega Ratio Rank: 79
JEPQ Calmar Ratio Rank: 66
JEPQ Martin Ratio Rank: 81

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.

VWENX vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Wellington Fund Admiral Shares (VWENX) 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.

	VWENX	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	2.02	2.03	-0.01
Sortino ratio: Return per unit of downside risk	2.80	2.69	+0.11
Omega ratio: Gain probability vs. loss probability	1.38	1.40	-0.03
Calmar ratio: Return relative to maximum drawdown	2.64	2.91	-0.27
Martin ratio: Return relative to average drawdown	11.92	13.84	-1.92

VWENX vs. JEPQ - Sharpe Ratio Comparison

The current VWENX Sharpe Ratio is 2.02, which is comparable to the JEPQ Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of VWENX 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

VWENX vs. JEPQ - Drawdown Comparison

The maximum VWENX drawdown since its inception was -36.02%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for VWENX and JEPQ.

Drawdown Indicators

	VWENX	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-36.02%	-20.07%	-15.95%
Max Drawdown (1Y) Largest decline over 1 year	-6.77%	-8.82%	+2.05%
Max Drawdown (3Y) Largest decline over 3 years	-11.98%	-20.07%	+8.09%
Max Drawdown (5Y) Largest decline over 5 years	-20.84%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-25.33%	—	—
Current Drawdown Current decline from peak	-1.92%	-1.64%	-0.28%
Average Drawdown Average peak-to-trough decline	-4.35%	-3.41%	-0.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.50%	1.85%	-0.35%

Volatility

VWENX vs. JEPQ - Volatility Comparison

The current volatility for Vanguard Wellington Fund Admiral Shares (VWENX) is 3.50%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 4.98%. This indicates that VWENX 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

	VWENX	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.50%	4.98%	-1.48%
Volatility (6M) Calculated over the trailing 6-month period	7.21%	10.22%	-3.01%
Volatility (1Y) Calculated over the trailing 1-year period	8.83%	12.61%	-3.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.20%	16.73%	-5.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.56%	16.73%	-5.17%

VWENX vs. JEPQ - Expense Ratio Comparison

VWENX has a 0.16% expense ratio, which is lower than JEPQ's 0.35% expense ratio.

Dividends

VWENX vs. JEPQ - Dividend Comparison

VWENX's dividend yield for the trailing twelve months is around 11.05%, 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%
VWENX Vanguard Wellington Fund Admiral Shares	11.05%	11.55%	10.85%	6.08%	8.28%	8.72%	7.85%	4.74%	9.58%	5.88%	4.53%	6.58%

Frequently Asked Questions

Can I hold both VWENX and JEPQ in my portfolio?

VWENX and JEPQ have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VWENX or JEPQ?

JEPQ has higher volatility (4.98%) compared to VWENX (3.50%). In terms of maximum drawdown, VWENX dropped -36.02% vs JEPQ's -20.07%.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.03 vs 2.02), 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.