YMAG vs. JEPQ

Last updated Jun 23, 2026

YMAG (YieldMax Magnificent 7 Fund of Option Income ETFs) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - YMAG is a Derivative Income fund actively managed by YieldMax, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. YMAG is actively managed, while JEPQ is passively managed. Over the past year, YMAG returned 18.97% vs 29.42% for JEPQ. Their correlation of 0.87 suggests significant overlap in exposure. YMAG charges 1.28%/yr vs 0.35%/yr for JEPQ.

Performance

YMAG vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Magnificent 7 Fund of Option Income ETFs (YMAG) 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, YMAG achieves a -2.22% return, which is significantly lower than JEPQ's 10.59% return.

YMAG

• 1D: -1.87%
• 1M: -6.74%
• YTD: -2.22%
• 6M: -2.56%
• 1Y: 18.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: 0.07%
• 1M: 2.89%
• YTD: 10.59%
• 6M: 10.22%
• 1Y: 29.42%
• 3Y*: 20.80%
• 5Y*: —
• 10Y*: —

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

YMAG vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
YMAG YieldMax Magnificent 7 Fund of Option Income ETFs	-2.22%	18.64%	34.66%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.59%	15.18%	19.76%

Correlation

The correlation between YMAG and JEPQ is 0.83, 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	0.83
Correlation (All Time) Calculated using the full available price history since Jan 30, 2024	0.87

The correlation between YMAG and JEPQ has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

YMAG vs. JEPQ - Sectors Allocation Comparison

Sectors	YMAG	JEPQ
Financial Services	99.0%	0.3%
Basic Materials	-	0.9%
Communication Services	-	13.9%
Consumer Cyclical	-	11.8%
Consumer Defensive	-	6.0%
Energy	-	0.3%
Healthcare	-	3.9%
Industrials	-	2.8%
Real Estate	-	0.2%
Technology	-	58.9%
Utilities	-	1.1%

Return for Risk

YMAG vs. JEPQ — Risk / Return Rank

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

YMAG

YMAG Risk / Return Rank: 30
YMAG Sharpe Ratio Rank: 33
YMAG Sortino Ratio Rank: 30
YMAG Omega Ratio Rank: 30
YMAG Calmar Ratio Rank: 28
YMAG Martin Ratio Rank: 32

JEPQ

JEPQ Risk / Return Rank: 75
JEPQ Sharpe Ratio Rank: 75
JEPQ Sortino Ratio Rank: 70
JEPQ Omega Ratio Rank: 80
JEPQ Calmar Ratio Rank: 69
JEPQ Martin Ratio Rank: 82

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.

YMAG vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Magnificent 7 Fund of Option Income ETFs (YMAG) 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.

	YMAG	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	1.14	2.30	-1.16
Sortino ratio: Return per unit of downside risk	1.59	3.05	-1.46
Omega ratio: Gain probability vs. loss probability	1.20	1.46	-0.25
Calmar ratio: Return relative to maximum drawdown	1.32	3.35	-2.03
Martin ratio: Return relative to average drawdown	4.41	15.94	-11.54

YMAG vs. JEPQ - Sharpe Ratio Comparison

The current YMAG Sharpe Ratio is 1.14, which is lower than the JEPQ Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of YMAG 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

YMAG vs. JEPQ - Drawdown Comparison

The maximum YMAG drawdown since its inception was -25.96%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for YMAG and JEPQ.

Drawdown Indicators

	YMAG	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-25.96%	-20.07%	-5.89%
Max Drawdown (1Y) Largest decline over 1 year	-14.38%	-8.82%	-5.56%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.07%	—
Current Drawdown Current decline from peak	-8.35%	0.00%	-8.35%
Average Drawdown Average peak-to-trough decline	-4.55%	-3.40%	-1.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.32%	1.85%	+2.47%

Volatility

YMAG vs. JEPQ - Volatility Comparison

YieldMax Magnificent 7 Fund of Option Income ETFs (YMAG) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) have volatilities of 5.86% and 5.68%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YMAG	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.86%	5.68%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	12.65%	10.33%	+2.32%
Volatility (1Y) Calculated over the trailing 1-year period	16.68%	12.85%	+3.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.99%	16.75%	+4.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.99%	16.75%	+4.24%

YMAG vs. JEPQ - Expense Ratio Comparison

YMAG has a 1.28% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

YMAG vs. JEPQ - Dividend Comparison

YMAG's dividend yield for the trailing twelve months is around 53.06%, more than JEPQ's 9.97% yield.

Position	TTM	2025	2024	2023	2022
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.97%	10.53%	9.65%	10.03%	9.44%
YMAG YieldMax Magnificent 7 Fund of Option Income ETFs	53.06%	52.27%	35.22%	0.00%	0.00%

Frequently Asked Questions

Can I hold both YMAG and JEPQ in my portfolio?

YMAG and JEPQ have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YMAG or JEPQ?

YMAG has higher volatility (5.86%) compared to JEPQ (5.68%). In terms of maximum drawdown, YMAG dropped -25.96% vs JEPQ's -20.07%.

Which ETF is better, YMAG or JEPQ?

On 1-year performance, JEPQ leads with 29.42% vs 18.97% for YMAG. On fees, JEPQ is cheaper at 0.35% per year. On volatility, JEPQ has been the lower-risk option at 5.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YMAG or JEPQ?

Over the 1-year period, JEPQ has performed better with a 29.42% return vs 18.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YMAG or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 1.28% for YMAG.

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

YMAG has the higher dividend yield at 53.06%, compared with 9.97% for JEPQ.

What is the main difference between YMAG and JEPQ?

YMAG is categorized as Derivative Income, while JEPQ is Nasdaq-100. They also come from different issuers: YieldMax and JPMorgan. Their fees differ too: 1.28% for YMAG and 0.35% for JEPQ.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.30 vs 1.14), 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.