XSMO vs. JEPQ

Last updated Jun 13, 2026

XSMO (Invesco S&P SmallCap Momentum ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - XSMO is a Momentum fund tracking the S&P SmallCap 600 Momentum Index, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Both are passively managed. Over the past 3 years, XSMO returned 24.32%/yr vs 19.91%/yr for JEPQ. A 0.65 correlation means they provide meaningful diversification when combined. XSMO charges 0.36%/yr vs 0.35%/yr for JEPQ.

Performance

XSMO vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Momentum ETF (XSMO) 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, XSMO achieves a 24.80% return, which is significantly higher than JEPQ's 7.85% return.

XSMO

• 1D: 1.22%
• 1M: 4.39%
• YTD: 24.80%
• 6M: 20.56%
• 1Y: 35.19%
• 3Y*: 24.32%
• 5Y*: 11.65%
• 10Y*: 15.17%

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)

XSMO vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XSMO Invesco S&P SmallCap Momentum ETF	24.80%	9.80%	17.45%	21.55%	-2.77%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.85%	15.18%	24.85%	36.28%	-11.16%

Correlation

The correlation between XSMO and JEPQ is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.65

The correlation between XSMO and JEPQ has been stable across timeframes, ranging from 0.62 to 0.65 - a consistent structural relationship.

XSMO vs. JEPQ - Sectors Allocation Comparison

Sectors	XSMO	JEPQ
Technology	20.9%	54.0%
Industrials	19.5%	3.1%
Healthcare	13.9%	4.4%
Financial Services	12.3%	0.4%
Consumer Cyclical	9.0%	12.8%
Basic Materials	5.8%	1.0%
Real Estate	5.0%	0.2%
Communication Services	4.1%	15.4%
Utilities	4.0%	1.3%
Energy	3.1%	0.4%
Consumer Defensive	2.4%	7.1%

Return for Risk

XSMO vs. JEPQ — Risk / Return Rank

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

XSMO

XSMO Risk / Return Rank: 70
XSMO Sharpe Ratio Rank: 63
XSMO Sortino Ratio Rank: 66
XSMO Omega Ratio Rank: 58
XSMO Calmar Ratio Rank: 84
XSMO Martin Ratio Rank: 80

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.

XSMO vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Momentum ETF (XSMO) 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.

	XSMO	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	1.82	2.03	-0.21
Sortino ratio: Return per unit of downside risk	2.62	2.69	-0.08
Omega ratio: Gain probability vs. loss probability	1.31	1.40	-0.09
Calmar ratio: Return relative to maximum drawdown	3.98	2.91	+1.07
Martin ratio: Return relative to average drawdown	13.44	13.84	-0.39

XSMO vs. JEPQ - Sharpe Ratio Comparison

The current XSMO Sharpe Ratio is 1.82, which is comparable to the JEPQ Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of XSMO 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

XSMO vs. JEPQ - Drawdown Comparison

The maximum XSMO drawdown since its inception was -58.06%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for XSMO and JEPQ.

Drawdown Indicators

	XSMO	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-58.06%	-20.07%	-37.99%
Max Drawdown (1Y) Largest decline over 1 year	-8.89%	-8.82%	-0.07%
Max Drawdown (3Y) Largest decline over 3 years	-24.76%	-20.07%	-4.69%
Max Drawdown (5Y) Largest decline over 5 years	-29.62%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.39%	—	—
Current Drawdown Current decline from peak	0.00%	-1.64%	+1.64%
Average Drawdown Average peak-to-trough decline	-11.12%	-3.41%	-7.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.63%	1.85%	+0.78%

Volatility

XSMO vs. JEPQ - Volatility Comparison

Invesco S&P SmallCap Momentum ETF (XSMO) has a higher volatility of 7.71% compared to JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) at 4.98%. This indicates that XSMO'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

	XSMO	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.71%	4.98%	+2.73%
Volatility (6M) Calculated over the trailing 6-month period	14.99%	10.22%	+4.77%
Volatility (1Y) Calculated over the trailing 1-year period	19.42%	12.61%	+6.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.63%	16.73%	+5.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.15%	16.73%	+7.42%

XSMO vs. JEPQ - Expense Ratio Comparison

XSMO has a 0.36% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

XSMO vs. JEPQ - Dividend Comparison

XSMO's dividend yield for the trailing twelve months is around 0.52%, less 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%
XSMO Invesco S&P SmallCap Momentum ETF	0.52%	0.75%	0.63%	0.96%	1.19%	0.30%	0.82%	0.69%	0.66%	0.27%	0.30%	0.35%

Frequently Asked Questions

Can I hold both XSMO and JEPQ in my portfolio?

XSMO and JEPQ have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XSMO or JEPQ?

XSMO has higher volatility (7.71%) compared to JEPQ (4.98%). In terms of maximum drawdown, XSMO dropped -58.06% vs JEPQ's -20.07%.

Which ETF is better, XSMO or JEPQ?

On 3-year performance, XSMO leads with 24.32% vs 19.91% for JEPQ. On fees, JEPQ is cheaper at 0.35% per year. On volatility, JEPQ has been the lower-risk option at 4.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XSMO or JEPQ?

Over the 3-year period, XSMO has performed better with a 24.32% return vs 19.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XSMO or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.36% for XSMO.

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

JEPQ has the higher dividend yield at 10.22%, compared with 0.52% for XSMO.

What is the main difference between XSMO and JEPQ?

XSMO is categorized as Momentum, while JEPQ is Nasdaq-100. XSMO tracks S&P SmallCap 600 Momentum Index, while JEPQ tracks Nasdaq-100 Index. They also come from different issuers: Invesco and JPMorgan. Their fees differ too: 0.36% for XSMO and 0.35% for JEPQ.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.03 vs 1.82), 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.