ZHDG vs. ROCQ

Last updated Jun 4, 2026

ZHDG (ZEGA Buy and Hedge ETF) and ROCQ (JPMorgan Nasdaq Equity Premium Yield ETF) are both exchange-traded funds - ZHDG is a Derivative Income fund actively managed by ZEGA, while ROCQ is a Nasdaq-100 fund actively managed by JPMorgan. Both are actively managed. Their correlation of 0.91 suggests significant overlap in exposure. ZHDG charges 0.98%/yr vs 0.35%/yr for ROCQ.

Performance

ZHDG vs. ROCQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ZEGA Buy and Hedge ETF (ZHDG) and JPMorgan Nasdaq Equity Premium Yield ETF (ROCQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZHDG

• 1D: -0.60%
• 1M: 4.65%
• YTD: 5.12%
• 6M: 5.49%
• 1Y: 18.31%
• 3Y*: 14.68%
• 5Y*: —
• 10Y*: —

ROCQ

• 1D: -0.12%
• 1M: 6.49%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZHDG vs. ROCQ - Yearly Performance Comparison

	2026 (YTD)
ZHDG ZEGA Buy and Hedge ETF	10.09%
ROCQ JPMorgan Nasdaq Equity Premium Yield ETF	17.62%

Correlation

The correlation between ZHDG and ROCQ is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 20, 2026	0.91

Return for Risk

ZHDG vs. ROCQ — Risk / Return Rank

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

ZHDG

ZHDG Risk / Return Rank: 51
ZHDG Sharpe Ratio Rank: 53
ZHDG Sortino Ratio Rank: 52
ZHDG Omega Ratio Rank: 51
ZHDG Calmar Ratio Rank: 44
ZHDG Martin Ratio Rank: 53

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.

ZHDG vs. ROCQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ZEGA Buy and Hedge ETF (ZHDG) and JPMorgan Nasdaq Equity Premium Yield ETF (ROCQ). 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.

	ZHDG	ROCQ	Difference
Sharpe ratio: Return per unit of total volatility	1.79	—	—
Sortino ratio: Return per unit of downside risk	2.50	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	2.15	—	—
Martin ratio: Return relative to average drawdown	8.97	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ZHDG	ROCQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	7.49	-6.97

Drawdowns

ZHDG vs. ROCQ - Drawdown Comparison

The maximum ZHDG drawdown since its inception was -23.27%, which is greater than ROCQ's maximum drawdown of -5.15%. Use the drawdown chart below to compare losses from any high point for ZHDG and ROCQ.

Drawdown Indicators

	ZHDG	ROCQ	Difference
Max Drawdown Largest peak-to-trough decline	-23.27%	-5.15%	-18.12%
Max Drawdown (1Y) Largest decline over 1 year	-8.56%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-11.63%	—	—
Current Drawdown Current decline from peak	-0.60%	-0.33%	-0.27%
Average Drawdown Average peak-to-trough decline	-8.16%	-0.66%	-7.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	—	—

Volatility

Volatility by Period

	ZHDG	ROCQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.80%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.06%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.27%	16.13%	-5.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.75%	16.13%	-4.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.75%	16.13%	-4.38%

ZHDG vs. ROCQ - Expense Ratio Comparison

ZHDG has a 0.98% expense ratio, which is higher than ROCQ's 0.35% expense ratio.

Dividends

ZHDG vs. ROCQ - Dividend Comparison

ZHDG's dividend yield for the trailing twelve months is around 2.44%, more than ROCQ's 2.02% yield.

Position	TTM	2025	2024	2023	2022	2021
ROCQ JPMorgan Nasdaq Equity Premium Yield ETF	2.02%	0.00%	0.00%	0.00%	0.00%	0.00%
ZHDG ZEGA Buy and Hedge ETF	2.44%	2.57%	2.59%	1.52%	3.58%	1.33%

Frequently Asked Questions

Can I hold both ZHDG and ROCQ in my portfolio?

With a correlation of 0.91, ZHDG and ROCQ 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 ETF is better, ZHDG or ROCQ?

On fees, ROCQ 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, ZHDG or ROCQ?

ROCQ is cheaper with a 0.35% expense ratio, compared with 0.98% for ZHDG.

Which ETF pays a higher dividend yield, ZHDG or ROCQ?

ZHDG has the higher dividend yield at 2.44%, compared with 2.02% for ROCQ.

What is the main difference between ZHDG and ROCQ?

ZHDG is categorized as Derivative Income, while ROCQ is Nasdaq-100. They also come from different issuers: ZEGA and JPMorgan. Their fees differ too: 0.98% for ZHDG and 0.35% for ROCQ.