XDTE vs. JEPQ

Last updated Jun 4, 2026

XDTE (Roundhill S&P 500 0DTE Covered Call Strategy ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - XDTE is a Derivative Income fund actively managed by Roundhill, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. XDTE is actively managed, while JEPQ is passively managed. Over the past year, XDTE returned 25.68% vs 29.00% for JEPQ. Their correlation of 0.92 suggests significant overlap in exposure. XDTE charges 0.97%/yr vs 0.35%/yr for JEPQ.

Performance

XDTE vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) 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, XDTE achieves a 8.83% return, which is significantly lower than JEPQ's 9.54% return.

XDTE

• 1D: -0.66%
• 1M: 4.14%
• YTD: 8.83%
• 6M: 8.93%
• 1Y: 25.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: -0.10%
• 1M: 4.31%
• YTD: 9.54%
• 6M: 9.75%
• 1Y: 29.00%
• 3Y*: 20.92%
• 5Y*: —
• 10Y*: —

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

XDTE vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	8.83%	12.60%	16.39%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.54%	15.18%	14.90%

Correlation

The correlation between XDTE and JEPQ is 0.90, 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	0.90
Correlation (All Time) Calculated using the full available price history since Mar 8, 2024	0.92

The correlation between XDTE and JEPQ has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

XDTE vs. JEPQ - Sectors Allocation Comparison

Sectors	XDTE	JEPQ
Technology	35.6%	54.0%
Financial Services	11.8%	0.4%
Communication Services	11.2%	15.4%
Consumer Cyclical	10.1%	12.8%
Healthcare	8.5%	4.4%
Industrials	8.3%	3.1%
Consumer Defensive	4.9%	7.1%
Energy	3.5%	0.4%
Utilities	2.4%	1.3%
Real Estate	1.9%	0.2%
Basic Materials	1.8%	1.0%

Return for Risk

XDTE vs. JEPQ — Risk / Return Rank

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

XDTE

XDTE Risk / Return Rank: 70
XDTE Sharpe Ratio Rank: 70
XDTE Sortino Ratio Rank: 67
XDTE Omega Ratio Rank: 70
XDTE Calmar Ratio Rank: 66
XDTE Martin Ratio Rank: 78

JEPQ

JEPQ Risk / Return Rank: 74
JEPQ Sharpe Ratio Rank: 74
JEPQ Sortino Ratio Rank: 71
JEPQ Omega Ratio Rank: 80
JEPQ Calmar Ratio Rank: 65
JEPQ Martin Ratio Rank: 80

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.

XDTE vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) 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.

	XDTE	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	2.35	2.49	-0.14
Sortino ratio: Return per unit of downside risk	3.15	3.29	-0.14
Omega ratio: Gain probability vs. loss probability	1.43	1.49	-0.06
Calmar ratio: Return relative to maximum drawdown	3.36	3.31	+0.05
Martin ratio: Return relative to average drawdown	15.35	16.22	-0.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XDTE vs. JEPQ - Sharpe Ratio Comparison

The current XDTE Sharpe Ratio is 2.35, which is comparable to the JEPQ Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of XDTE 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.

Sharpe Ratios by Period

	XDTE	JEPQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.35	2.49	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	1.25	1.00	+0.25

Drawdowns

XDTE vs. JEPQ - Drawdown Comparison

The maximum XDTE drawdown since its inception was -19.09%, roughly equal to the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for XDTE and JEPQ.

Drawdown Indicators

	XDTE	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-19.09%	-20.07%	+0.98%
Max Drawdown (1Y) Largest decline over 1 year	-7.68%	-8.82%	+1.14%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.07%	—
Current Drawdown Current decline from peak	-0.66%	-0.10%	-0.56%
Average Drawdown Average peak-to-trough decline	-2.32%	-3.42%	+1.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	1.79%	-0.11%

Volatility

XDTE vs. JEPQ - Volatility Comparison

Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) has a higher volatility of 2.53% compared to JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) at 1.26%. This indicates that XDTE's price experiences larger fluctuations and is considered to be riskier than JEPQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XDTE	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.53%	1.26%	+1.27%
Volatility (6M) Calculated over the trailing 6-month period	8.28%	9.07%	-0.79%
Volatility (1Y) Calculated over the trailing 1-year period	10.99%	11.73%	-0.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.85%	16.61%	-2.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.85%	16.61%	-2.76%

XDTE vs. JEPQ - Expense Ratio Comparison

XDTE has a 0.97% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

XDTE vs. JEPQ - Dividend Comparison

XDTE's dividend yield for the trailing twelve months is around 33.00%, more than JEPQ's 10.07% yield.

Position	TTM	2025	2024	2023	2022
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.07%	10.53%	9.65%	10.03%	9.44%
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	33.00%	39.16%	20.35%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XDTE and JEPQ in my portfolio?

With a correlation of 0.90, XDTE and JEPQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, XDTE or JEPQ?

XDTE has higher volatility (2.53%) compared to JEPQ (1.26%). In terms of maximum drawdown, XDTE dropped -19.09% vs JEPQ's -20.07%.

Which ETF is better, XDTE or JEPQ?

On 1-year performance, JEPQ leads with 29.00% vs 25.68% for XDTE. On fees, JEPQ is cheaper at 0.35% per year. On volatility, JEPQ has been the lower-risk option at 1.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XDTE or JEPQ?

Over the 1-year period, JEPQ has performed better with a 29.00% return vs 25.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XDTE or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.97% for XDTE.

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

XDTE has the higher dividend yield at 33.00%, compared with 10.07% for JEPQ.

What is the main difference between XDTE and JEPQ?

XDTE is categorized as Derivative Income, while JEPQ is Nasdaq-100. They also come from different issuers: Roundhill and JPMorgan. Their fees differ too: 0.97% for XDTE and 0.35% for JEPQ.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.49 vs 2.35), 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.