XYLP.L vs. JEPQ.L

Last updated Jul 29, 2026

XYLP.L (Global X S&P 500 Covered Call UCITS ETF) and JEPQ.L (JPMorgan Nasdaq Equity Premium Income Active UCITS ETF USD (Dist)) are both exchange-traded funds - XYLP.L is a Derivative Income fund tracking the Cboe S&P 500 BuyWrite 15% WHT Index, while JEPQ.L is a Nasdaq-100 fund actively managed by JPMorgan. XYLP.L is passively managed, while JEPQ.L is actively managed. Over the past year, XYLP.L returned 14.95% vs 16.55% for JEPQ.L. Their 0.63 correlation means they have sometimes moved together and sometimes differently. XYLP.L charges 0.45%/yr vs 0.35%/yr for JEPQ.L.

Performance

XYLP.L vs. JEPQ.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Global X S&P 500 Covered Call UCITS ETF (XYLP.L) and JPMorgan Nasdaq Equity Premium Income Active UCITS ETF USD (Dist) (JEPQ.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XYLP.L is traded in GBP, while JEPQ.L is traded in USD. To make them comparable, the JEPQ.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, XYLP.L achieves a 8.08% return, which is significantly higher than JEPQ.L's 5.60% return.

XYLP.L

• 1D: 0.00%
• 1M: 1.32%
• 6M: 9.29%
• YTD: 8.08%
• 1Y: 14.95%
• 3Y*: 8.56%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 0.25%

JEPQ.L

• 1D: -0.04%
• 1M: -3.75%
• 6M: 5.90%
• YTD: 5.60%
• 1Y: 16.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.23%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JEPQ.L JPMorgan Nasdaq Equity Premium Income Active UCITS ETF USD (Dist)	£3.60M	£4.38M	£3.42M
XYLP.L Global X S&P 500 Covered Call UCITS ETF	£165.83K	£168.59K	£165.34K

XYLP.L vs. JEPQ.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XYLP.L Global X S&P 500 Covered Call UCITS ETF	8.08%	-1.18%	8.54%
JEPQ.L JPMorgan Nasdaq Equity Premium Income Active UCITS ETF USD (Dist)	5.60%	6.61%	8.62%

Correlation

The correlation between XYLP.L and JEPQ.L is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.61
Correlation (All Time) Calculated using the full available price history since Oct 29, 2024	0.63

The correlation between XYLP.L and JEPQ.L has been stable across timeframes, ranging from 0.61 to 0.63 - a consistent structural relationship.

Return for Risk

XYLP.L vs. JEPQ.L — Risk / Return Rank

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

XYLP.L

XYLP.L Risk / Return Rank: 82
XYLP.L Sharpe Ratio Rank: 81
XYLP.L Sortino Ratio Rank: 78
XYLP.L Omega Ratio Rank: 81
XYLP.L Calmar Ratio Rank: 86
XYLP.L Martin Ratio Rank: 81

JEPQ.L

JEPQ.L Risk / Return Rank: 53
JEPQ.L Sharpe Ratio Rank: 48
JEPQ.L Sortino Ratio Rank: 49
JEPQ.L Omega Ratio Rank: 50
JEPQ.L Calmar Ratio Rank: 55
JEPQ.L Martin Ratio Rank: 62

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.

XYLP.L vs. JEPQ.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Covered Call UCITS ETF (XYLP.L) and JPMorgan Nasdaq Equity Premium Income Active UCITS ETF USD (Dist) (JEPQ.L). 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.

	XYLP.L	JEPQ.L	Difference
Sharpe ratio: Return per unit of total volatility	1.88	1.20	+0.67
Sortino ratio: Return per unit of downside risk	2.54	1.74	+0.80
Omega ratio: Gain probability vs. loss probability	1.34	1.23	+0.11
Calmar ratio: Return relative to maximum drawdown	3.42	2.62	+0.80
Martin ratio: Return relative to average drawdown	10.71	8.31	+2.41

XYLP.L vs. JEPQ.L - Sharpe Ratio Comparison

The current XYLP.L Sharpe Ratio is 1.88, which is higher than the JEPQ.L Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of XYLP.L and JEPQ.L, 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

XYLP.L vs. JEPQ.L - Drawdown Comparison

The maximum XYLP.L drawdown since its inception was -23.57%, which is greater than JEPQ.L's maximum drawdown of -22.10%. Use the drawdown chart below to compare losses from any high point for XYLP.L and JEPQ.L.

Drawdown Indicators

	XYLP.L	JEPQ.L	Difference
Max Drawdown Largest peak-to-trough decline	-23.57%	-22.10%	-1.47%
Max Drawdown (1Y) Largest decline over 1 year	-4.39%	-6.32%	+1.93%
Max Drawdown (3Y) Largest decline over 3 years	-19.30%	—	—
Current Drawdown Current decline from peak	-0.15%	-6.32%	+6.17%
Average Drawdown Average peak-to-trough decline	-12.94%	-4.54%	-8.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.40%	1.99%	-0.59%

Volatility

XYLP.L vs. JEPQ.L - Volatility Comparison

The current volatility for Global X S&P 500 Covered Call UCITS ETF (XYLP.L) is 2.34%, while JPMorgan Nasdaq Equity Premium Income Active UCITS ETF USD (Dist) (JEPQ.L) has a volatility of 5.52%. This indicates that XYLP.L experiences smaller price fluctuations and is considered to be less risky than JEPQ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XYLP.L	JEPQ.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.34%	5.52%	-3.18%
Volatility (6M) Calculated over the trailing 6-month period	6.40%	10.68%	-4.28%
Volatility (1Y) Calculated over the trailing 1-year period	8.01%	13.77%	-5.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.04%	16.50%	+0.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.04%	16.50%	+0.54%

XYLP.L vs. JEPQ.L - Expense Ratio Comparison

XYLP.L has a 0.45% expense ratio, which is higher than JEPQ.L's 0.35% expense ratio.

Dividends

XYLP.L vs. JEPQ.L - Dividend Comparison

XYLP.L's dividend yield for the trailing twelve months is around 8.31%, less than JEPQ.L's 10.57% yield.

Position	TTM	2025	2024	2023
JEPQ.L JPMorgan Nasdaq Equity Premium Income Active UCITS ETF USD (Dist)	10.57%	10.06%	0.74%	0.00%
XYLP.L Global X S&P 500 Covered Call UCITS ETF	8.31%	9.01%	6.22%	3.98%

Frequently Asked Questions

Can I hold both XYLP.L and JEPQ.L in my portfolio?

XYLP.L and JEPQ.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XYLP.L or JEPQ.L?

On fees, JEPQ.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XYLP.L or JEPQ.L?

JEPQ.L is cheaper with a 0.35% expense ratio, compared with 0.45% for XYLP.L.

What is the main difference between XYLP.L and JEPQ.L?

XYLP.L is categorized as Derivative Income, while JEPQ.L is Nasdaq-100. They also come from different issuers: Global X and JPMorgan. Their fees differ too: 0.45% for XYLP.L and 0.35% for JEPQ.L.