XYLD vs. JEPQ

Last updated Jun 9, 2026

XYLD (Global X S&P 500 Covered Call ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - XYLD is a Derivative Income fund tracking the Cboe S&P 500 BuyWrite Index, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Both are passively managed. Over the past 3 years, XYLD returned 10.96%/yr vs 20.04%/yr for JEPQ. Their correlation of 0.83 suggests significant overlap in exposure. XYLD charges 0.60%/yr vs 0.35%/yr for JEPQ.

Performance

XYLD vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X S&P 500 Covered Call ETF (XYLD) 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, XYLD achieves a 4.47% return, which is significantly lower than JEPQ's 7.44% return.

XYLD

• 1D: 0.27%
• 1M: 0.88%
• YTD: 4.47%
• 6M: 5.83%
• 1Y: 16.60%
• 3Y*: 10.96%
• 5Y*: 7.62%
• 10Y*: 8.23%

JEPQ

• 1D: 1.24%
• 1M: 0.97%
• YTD: 7.44%
• 6M: 7.26%
• 1Y: 25.85%
• 3Y*: 20.04%
• 5Y*: —
• 10Y*: —

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

XYLD vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XYLD Global X S&P 500 Covered Call ETF	4.47%	8.02%	19.49%	11.10%	-11.85%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.44%	15.18%	24.85%	36.28%	-12.89%

Correlation

The correlation between XYLD and JEPQ is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (All Time) Calculated using the full available price history since May 5, 2022	0.83

The correlation between XYLD and JEPQ has been stable across timeframes, ranging from 0.82 to 0.86 - a consistent structural relationship.

XYLD vs. JEPQ - Sectors Allocation Comparison

Sectors	XYLD	JEPQ
Technology	35.6%	54.0%
Financial Services	11.8%	0.4%
Communication Services	11.2%	15.4%
Consumer Cyclical	10.2%	12.8%
Healthcare	8.5%	4.4%
Industrials	8.3%	3.1%
Consumer Defensive	4.9%	7.1%
Energy	3.5%	0.4%
Utilities	2.3%	1.3%
Real Estate	1.9%	0.2%
Basic Materials	1.8%	1.0%

Return for Risk

XYLD vs. JEPQ — Risk / Return Rank

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

XYLD

XYLD Risk / Return Rank: 84
XYLD Sharpe Ratio Rank: 86
XYLD Sortino Ratio Rank: 87
XYLD Omega Ratio Rank: 93
XYLD Calmar Ratio Rank: 69
XYLD Martin Ratio Rank: 86

JEPQ

JEPQ Risk / Return Rank: 73
JEPQ Sharpe Ratio Rank: 73
JEPQ Sortino Ratio Rank: 68
JEPQ Omega Ratio Rank: 79
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.

XYLD vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Covered Call ETF (XYLD) 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.

	XYLD	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	2.53	2.13	+0.40
Sortino ratio: Return per unit of downside risk	3.58	2.79	+0.79
Omega ratio: Gain probability vs. loss probability	1.59	1.42	+0.17
Calmar ratio: Return relative to maximum drawdown	3.15	2.95	+0.21
Martin ratio: Return relative to average drawdown	16.73	14.33	+2.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XYLD vs. JEPQ - Sharpe Ratio Comparison

The current XYLD Sharpe Ratio is 2.53, which is comparable to the JEPQ Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of XYLD 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

	XYLD	JEPQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.53	2.13	+0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.96	-0.36

Drawdowns

XYLD vs. JEPQ - Drawdown Comparison

The maximum XYLD drawdown since its inception was -33.46%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for XYLD and JEPQ.

Drawdown Indicators

	XYLD	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-33.46%	-20.07%	-13.39%
Max Drawdown (1Y) Largest decline over 1 year	-5.29%	-8.82%	+3.53%
Max Drawdown (3Y) Largest decline over 3 years	-15.53%	-20.07%	+4.54%
Max Drawdown (5Y) Largest decline over 5 years	-18.66%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.46%	—	—
Current Drawdown Current decline from peak	-0.64%	-2.02%	+1.38%
Average Drawdown Average peak-to-trough decline	-3.72%	-3.42%	-0.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	1.81%	-0.82%

Volatility

XYLD vs. JEPQ - Volatility Comparison

The current volatility for Global X S&P 500 Covered Call ETF (XYLD) is 1.33%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 3.65%. This indicates that XYLD 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

	XYLD	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.33%	3.65%	-2.32%
Volatility (6M) Calculated over the trailing 6-month period	5.46%	9.66%	-4.20%
Volatility (1Y) Calculated over the trailing 1-year period	6.60%	12.19%	-5.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.23%	16.67%	-5.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.21%	16.67%	-2.46%

XYLD vs. JEPQ - Expense Ratio Comparison

XYLD has a 0.60% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

XYLD vs. JEPQ - Dividend Comparison

XYLD's dividend yield for the trailing twelve months is around 10.57%, more than JEPQ's 10.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.26%	10.53%	9.65%	10.03%	9.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XYLD Global X S&P 500 Covered Call ETF	10.57%	10.51%	11.54%	10.51%	13.43%	9.07%	7.93%	5.76%	7.12%	5.18%	3.23%	4.65%

Frequently Asked Questions

Can I hold both XYLD and JEPQ in my portfolio?

XYLD and JEPQ have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XYLD or JEPQ?

JEPQ has higher volatility (3.65%) compared to XYLD (1.33%). In terms of maximum drawdown, XYLD dropped -33.46% vs JEPQ's -20.07%.

Which ETF is better, XYLD or JEPQ?

On 3-year performance, JEPQ leads with 20.04% vs 10.96% for XYLD. On fees, JEPQ is cheaper at 0.35% per year. On volatility, XYLD has been the lower-risk option at 1.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XYLD or JEPQ?

Over the 3-year period, JEPQ has performed better with a 20.04% return vs 10.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XYLD or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.60% for XYLD.

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

XYLD has the higher dividend yield at 10.57%, compared with 10.26% for JEPQ.

What is the main difference between XYLD and JEPQ?

XYLD is categorized as Derivative Income, while JEPQ is Nasdaq-100. XYLD tracks Cboe S&P 500 BuyWrite Index, while JEPQ tracks Nasdaq-100 Index. They also come from different issuers: Global X and JPMorgan. Their fees differ too: 0.60% for XYLD and 0.35% for JEPQ.

Which has better risk-adjusted returns?

XYLD currently has the higher Sharpe Ratio (2.53 vs 2.13), 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.