BetterThanSPY

Relative Intelligence · Nasdaq Options Income

How JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on JEPQ alone. It places JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) against 15 popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where JEPQ stands in the market, and of the alternatives worth a closer look.

Period covered: JEPQ's full trading record, from May 2022 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 22, 2026.

Data as of October 22, 2026. Full tables and charts read best on a larger screen.

Rank the market against JEPQ →Chart JEPQ vs. 15 alternatives →

This page answers the following questions about JEPQ

Key findings

Not AI-generated

These key findings are generated by our proprietary relative intelligence engine, directly from the data on this page.

How much would $10,000 in JEPQ have grown?

This chart tracks a hypothetical $10,000 investment in JEPQ over the past 4 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of JEPQ over the same span and JEPQ's popular alternatives, among those that traded for the entire period. It shows not only where each investment ended up but also how smooth or uneven the path was.

Note: JEPQ began trading on May 4, 2022, so the chart cannot reach back to the dot-com bust, the 2008 financial crisis or six other sell-offs. It covers the most recent 4 years of JEPQ's record, starting at the end of September 2022.

From the end of September 2022 to the end of September 2026. Hover over a fund in the key to pick out its line. 924 of the 3,776 stocks and funds worth at least $500 million that traded the whole period ended ahead of JEPQ; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$5,000$10,000$15,000$20,000$25,000$30,000$35,00020222023202420252026$0$10,000$20,000$30,000$40,00020222023202420252026
  • XLK$33,902+239% total · +35.7% a year
  • QQQM$28,420+184% total · +29.8% a year
  • WCCB$27,989+180% total · +29.3% a year
  • SCHG$26,208+162% total · +27.2% a year
  • RY$25,214+152% total · +26.0% a year
  • JEPQ$23,076+131% total · +23.3% a year
  • SPY (S&P 500)$22,487+125% total · +22.5% a year
  • SPYI$19,329+93.3% total · +17.9% a year
  • QYLD$19,276+92.8% total · +17.8% a year
  • DIVO$17,922+79.2% total · +15.7% a year
Change the dates or add tickers to this chart in EasyCompare

JEPQ at a glance

This section summarizes the key facts about the fund, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.

Note: JEPQ began trading on May 4, 2022, so every figure here, including its worst decline, covers only the time since then. None of them reflect the dot-com bust, the 2008 financial crisis or six other sell-offs.

The fund

Issuer
J.P. Morgan
Began trading
May 2022
Expense ratio
0.35%per year
Assets
$43B
Category
Technology

Returns

Past 1 year
+13.7%total return
Past 3 years
+74.1%+20.3% a year
Best calendar year
+36.3%2023
Worst calendar year
+15.2%2025
Losing years
0 of 3full calendar years

Risk

Volatility
15.7%typical yearly swing, 3 years
Sharpe ratio
1.26return per unit of risk, 3 years
Worst decline ever
−20.1%Feb 2025 to Apr 2025
From its all-time high
−4.7%below the peak

JEPQ against the whole market

Where JEPQ ranks among every stock and fund, and what across the market has done better.

How does JEPQ rank among all ETFs?

This section ranks JEPQ on return, volatility, risk-adjusted return and worst decline against every ETF worth at least $100 million with enough history. Where the comparisons with its popular alternatives show how JEPQ stacks up against its peers, these rankings show where it stands in the market as a whole.

Ranked against U.S.-listed ETFs with at least $100M in assets that have enough history for each measure, so the count changes from row to row; smaller ETFs and leveraged funds are left out. Lower volatility and smaller declines rank higher.

MeasureJEPQRankStanding
1-year return+13.7%994 of 2,488top 40%
3-year return+74.1%698 of 1,950top 36%
Volatility, 3 years15.7%1,136 of 1,950bottom 43%
Sharpe ratio, 3 years1.26932 of 1,950top 48%

What has beaten JEPQ on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 3 years (higher is better) and how much its price swung, its volatility (further left is calmer). JEPQ sits where the dashed lines cross. Anything in the green box above and to the left earned more than JEPQ with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.

Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 3 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to JEPQ; faint dots are 38 more of the 90 in the green region (the strongest, one per fund family). 3,931 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

10.0%11.0%12.0%13.0%14.0%15.0%16.0%17.0%18.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%Volatility over 3 years (annualized)Annual return over 3 yearsMore return, less volatility than JEPQBINV: +24.4% a year, volatility 14.5%IDV: +27.0% a year, volatility 13.7%DIVB: +29.0% a year, volatility 13.7%VT: +22.2% a year, volatility 14.5%FGD: +25.7% a year, volatility 12.9%CGDV: +25.2% a year, volatility 13.7%DCOR: +22.8% a year, volatility 14.8%VOE: +21.3% a year, volatility 13.6%VYMI: +24.5% a year, volatility 13.6%AVLV: +24.1% a year, volatility 14.8%MGV: +22.0% a year, volatility 12.0%AVDE: +22.2% a year, volatility 14.8%DFUV: +22.2% a year, volatility 14.2%BBCA: +25.8% a year, volatility 14.6%GSLC: +22.3% a year, volatility 14.7%FDVV: +22.0% a year, volatility 12.5%FDL: +23.7% a year, volatility 13.3%JQUA: +22.9% a year, volatility 13.8%EMLP: +22.5% a year, volatility 12.9%HGER: +22.8% a year, volatility 14.9%EQWL: +22.3% a year, volatility 12.9%WTV: +24.3% a year, volatility 14.8%NULV: +21.5% a year, volatility 12.4%SEIV: +29.4% a year, volatility 14.7%PWV: +23.8% a year, volatility 13.0%FNDC: +21.3% a year, volatility 14.7%CLSE: +28.4% a year, volatility 13.8%IUS: +23.9% a year, volatility 12.8%SDOG: +22.2% a year, volatility 13.8%FEX: +22.2% a year, volatility 14.7%SIXA: +23.0% a year, volatility 11.2%AUSF: +21.9% a year, volatility 12.9%FDRR: +24.2% a year, volatility 13.8%DGT: +24.6% a year, volatility 13.3%FYLD: +24.8% a year, volatility 14.3%QDEF: +21.8% a year, volatility 11.8%DOL: +21.7% a year, volatility 14.5%DJD: +22.4% a year, volatility 12.2%JEPQ: +20.3% a year, volatility 15.7%SPY (S&P 500): +23.5% a year, volatility 15.3%GPIX: +21.7% a year, volatility 13.5%BALI: +21.5% a year, volatility 12.7%JIVE: +28.9% a year, volatility 14.9%VOO: +23.6% a year, volatility 14.8%BKGI: +22.7% a year, volatility 13.2%TVAL: +22.8% a year, volatility 12.5%LVHI: +24.5% a year, volatility 10.6%RY: +40.2% a year, volatility 16.9%WCCB: +38.2% a year, volatility 13.8%BGIG: +19.3% a year, volatility 11.5%JEPQSPY (S&P 500)GPIXBALIJIVEVOOBKGITVALLVHIRYWCCBBGIG10.0%12.0%14.0%16.0%18.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%Volatility over 3 years (annualized)Annual return over 3 yearsMore return, less volatility than JEPQBINV: +24.4% a year, volatility 14.5%IDV: +27.0% a year, volatility 13.7%DIVB: +29.0% a year, volatility 13.7%VT: +22.2% a year, volatility 14.5%FGD: +25.7% a year, volatility 12.9%CGDV: +25.2% a year, volatility 13.7%DCOR: +22.8% a year, volatility 14.8%VOE: +21.3% a year, volatility 13.6%VYMI: +24.5% a year, volatility 13.6%AVLV: +24.1% a year, volatility 14.8%MGV: +22.0% a year, volatility 12.0%AVDE: +22.2% a year, volatility 14.8%DFUV: +22.2% a year, volatility 14.2%BBCA: +25.8% a year, volatility 14.6%GSLC: +22.3% a year, volatility 14.7%FDVV: +22.0% a year, volatility 12.5%FDL: +23.7% a year, volatility 13.3%JQUA: +22.9% a year, volatility 13.8%EMLP: +22.5% a year, volatility 12.9%HGER: +22.8% a year, volatility 14.9%EQWL: +22.3% a year, volatility 12.9%WTV: +24.3% a year, volatility 14.8%NULV: +21.5% a year, volatility 12.4%SEIV: +29.4% a year, volatility 14.7%PWV: +23.8% a year, volatility 13.0%FNDC: +21.3% a year, volatility 14.7%CLSE: +28.4% a year, volatility 13.8%IUS: +23.9% a year, volatility 12.8%SDOG: +22.2% a year, volatility 13.8%FEX: +22.2% a year, volatility 14.7%SIXA: +23.0% a year, volatility 11.2%AUSF: +21.9% a year, volatility 12.9%FDRR: +24.2% a year, volatility 13.8%DGT: +24.6% a year, volatility 13.3%FYLD: +24.8% a year, volatility 14.3%QDEF: +21.8% a year, volatility 11.8%DOL: +21.7% a year, volatility 14.5%DJD: +22.4% a year, volatility 12.2%JEPQ: +20.3% a year, volatility 15.7%SPY (S&P 500): +23.5% a year, volatility 15.3%GPIX: +21.7% a year, volatility 13.5%BALI: +21.5% a year, volatility 12.7%JIVE: +28.9% a year, volatility 14.9%VOO: +23.6% a year, volatility 14.8%BKGI: +22.7% a year, volatility 13.2%TVAL: +22.8% a year, volatility 12.5%LVHI: +24.5% a year, volatility 10.6%RY: +40.2% a year, volatility 16.9%WCCB: +38.2% a year, volatility 13.8%BGIG: +19.3% a year, volatility 11.5%JEPQSPY (S&P 500)GPIXBALIJIVEVOOTVALLVHIRYWCCBBGIG
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than JEPQ?

Investments that beat JEPQ over the past 3 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat JEPQ over the past 3 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes, and, for funds, the same exposure at a lower expense ratio. It checks JEPQ's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than JEPQ follows the table.

Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 3 years; the worst decline covers the past 10 years. Green marks a better figure than JEPQ's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× JEPQ's volatility counts as better.

These figures cover the past 3 years. Green marks a better figure than JEPQ's.

Screen the whole market against JEPQ for any period in BetterThanSPYOpen these 11 in EasyCompare
InvestmentWhy it is betterPast 3 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years3Y returntotalCorr. with JEPQ?lower diversifies moreExpenseper year
JEPQJPMorgan Nasdaq Equity Premium Income ETF · this page
+20.3%15.7%1.26−20.1%+74.1%1.000.35%
SPYState Street SPDR S&P 500 ETF · S&P 500
+23.5%15.3%1.47−33.7%+88.4%0.880.09%
Popular alternativesbest 1 shownThe investments people most often weigh against JEPQ. 1 of 14 passed at least one test.
GPIXGoldman Sachs S&P 500 Premium Income ETF · Covered Call Income
Higher return, lower volatility+21.7%13.5%1.54−17.5%+80.4%—0.35%
Same and neighboring categories, and shared themesbest 1 shownEverything else in Nasdaq Options Income and Equity Income and the categories next to it (Covered Call Income, US Large-Cap Growth), plus JEPQ's specific themes. 2 of 56 passed at least one test.
BALIiShares U.S. Large Cap Premium Income Active ETF · Equity Income
Higher return, lower volatility+21.5%12.7%1.61−16.7%+79.5%0.840.35%
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 177 of 3,875 passed at least one test.
JIVEJPMorgan International Value ETF · International Large-Cap Value
Higher return, lower volatilityHigher Sharpe, smaller worst decline+28.9%14.9%1.79−13.8%+114%0.230.55%
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Higher return, lower volatility+23.6%14.8%1.51−34.0%+88.8%0.880.03%
BKGIBNY Mellon Global Infrastructure Income ETF · Infrastructure Equity
Higher return, lower volatilityHigher Sharpe, smaller worst decline+22.7%13.2%1.63−14.8%+84.9%0.020.65%
TVALT. Rowe Price Value ETF · US Large-Cap Value
Higher return, lower volatilityHigher Sharpe, smaller worst decline+22.8%12.5%1.72−14.8%+85.2%0.590.33%
LVHIFranklin International Low Volatility High Dividend Index ETF · International Dividend Equity
On the frontierHigher return, lower volatility+24.5%10.6%2.12−32.4%+92.8%0.020.40%
RYRoyal Bank of Canada · Banks
On the frontierHigher return, similar volatility+40.2%16.9%2.09−40.0%+176%0.44—
WCCBWest Coast Community Bancorp · Regional Banks
On the frontierHigher return, lower volatility+38.2%13.8%2.42−70.8%+164%0.10—
BGIGBahl & Gaynor Income Growth ETF · Dividend Growth
Similar return, lower volatilityHigher Sharpe, smaller worst decline+19.3%11.5%1.61−13.3%+69.9%0.480.45%
What these numbers mean for JEPQ
Annual return
JEPQ returned 20.3% a year over the past 3 years with dividends reinvested, against 23.5% a year for the S&P 500. At that pace, $10,000 became about $17,400. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
Volatility
JEPQ's volatility over the past 3 years was 15.7%, 1.0 times the S&P 500's 15.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, JEPQ's return lands within 15.7% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
Sharpe ratio
JEPQ's Sharpe ratio over the past 3 years was 1.26, against 1.47 for the S&P 500, so JEPQ earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings. Guide: Balancing reward with risk (Sharpe ratio) →
Worst decline
JEPQ's worst fall from a peak to a low over the past 10 years was 20.1%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 20.1% fall takes a 25.1% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 3 years, JEPQ's monthly returns had a correlation of 0.88 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They move almost in lockstep, so holding both adds little diversification. In the table, the correlation column measures each option against JEPQ instead: the lower it is, the more that option would diversify a JEPQ holding. Guide: Correlation and diversification →
Show all 90 stocks and funds worth at least $500 million that earned more than JEPQ with less volatility

Out of 3,931 tested over 3 years. The strongest 45 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline3Y returnCorr. with JEPQExpense
1
JIVEJPMorgan International Value ETF · International Large-Cap Value
Whole market+28.9%14.9%1.79−13.8%+114%0.230.55%
2
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Whole market+23.6%14.8%1.51−34.0%+88.8%0.880.03%
3
BKGIBNY Mellon Global Infrastructure Income ETF · Infrastructure Equity
Whole market+22.7%13.2%1.63−14.8%+84.9%0.020.65%
4
TVALT. Rowe Price Value ETF · US Large-Cap Value
Whole market+22.8%12.5%1.72−14.8%+85.2%0.590.33%
5
LVHIFranklin International Low Volatility High Dividend Index ETF · International Dividend Equity
Whole market+24.5%10.6%2.12−32.4%+92.8%0.020.40%
6
BINVBrandes International ETF · International Large-Cap Value
Whole market+24.4%14.5%1.59−14.9%+92.3%—0.70%
7
IDViShares International Select Dividend ETF · International Dividend Equity
Whole market+27.0%13.7%1.83−42.5%+105%0.020.50%
8
DIVBiShares Core Dividend ETF · High Dividend Yield
Whole market+29.0%13.7%1.94−36.9%+115%0.440.05%
9
VTVanguard Total World Stock ETF · Global Equity
Whole market+22.2%14.5%1.47−34.2%+82.6%0.800.06%
10
WCCBWest Coast Community Bancorp · Regional Banks
Whole market+38.2%13.8%2.42−70.8%+164%0.10—
11
FGDFirst Trust Dow Jones Global Select Dividend Index Fund · Global Equity
Whole market+25.7%12.9%1.84−44.8%+98.6%0.110.55%
12
CGDVCapital Group Dividend Value ETF · US Dividend Equity
Whole market+25.2%13.7%1.72−21.8%+96.5%0.640.33%
13
DCORU.S. Core Equity 1 Portfolio ETF Class Shares · US Total Market
Whole market+22.8%14.8%1.47−19.1%+85.2%0.800.17%
14
VOEVanguard Morningstar Mid-Cap Value ETF · Mid-Cap Value
Whole market+21.3%13.6%1.50−43.2%+78.6%0.410.05%
15
VYMIVanguard International High Dividend Yield ETF · International Dividend Equity
Whole market+24.5%13.6%1.69−40.0%+93.1%0.190.07%
16
AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value
Whole market+24.1%14.8%1.54−19.5%+91.1%0.640.15%
17
MGVVanguard Morningstar Mega Cap Value ETF · US Large-Cap Value
Whole market+22.0%12.0%1.73−35.4%+81.5%0.540.05%
18
AVDEAvantis International Equity ETF · Developed International Equity
Whole market+22.2%14.8%1.44−37.0%+82.6%0.360.23%
19
DFUVDimensional - US Marketwide Value ETF · US Value Equity
Whole market+22.2%14.2%1.49−17.6%+82.5%0.540.21%
20
BBCAJPMorgan BetaBuilders Canada ETF · International Equity
Whole market+25.8%14.6%1.65−42.8%+98.9%0.410.19%
21
GSLCGoldman Sachs ActiveBeta U.S. Large Cap Equity ETF · Multifactor Equity
Whole market+22.3%14.7%1.45−33.7%+82.8%0.850.09%
22
FDVVFidelity High Dividend ETF · High Dividend Yield
Whole market+22.0%12.5%1.66−40.2%+81.6%0.580.15%
23
FDLFirst Trust Morningstar Dividend Leaders Index Fund · High Dividend Yield
Whole market+23.7%13.3%1.68−41.4%+89.5%0.020.43%
24
JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity
Whole market+22.9%13.8%1.57−32.9%+85.6%0.790.12%
25
EMLPFirst Trust North American Energy Infrastructure Fund · Energy Infrastructure
Whole market+22.5%12.9%1.65−43.6%+83.8%0.120.95%
26
HGERHarbor Commodity All-Weather Strategy ETF (HGER) · Broad Commodities
Whole market+22.8%14.9%1.46−23.3%+85.1%-0.230.68%
27
EQWLInvesco S&P 100 Equal Weight ETF · US Large-Cap Equity
Whole market+22.3%12.9%1.63−34.3%+83.1%0.680.30%
28
WTVWisdomTree U.S. Value Fund · US Value Equity
Whole market+24.3%14.8%1.55−42.2%+92.0%0.520.12%
29
NULVNuveen ESG Large-Cap Value · US Large-Cap Value
Whole market+21.5%12.4%1.63−37.0%+79.2%0.550.26%
30
SEIVSEI QiM U.S. Large Cap Value Active ETF · US Large-Cap Value
Whole market+29.4%14.7%1.83−18.2%+117%0.650.15%
31
PWVInvesco Large Cap Value ETF · US Large-Cap Value
Whole market+23.8%13.0%1.72−37.6%+89.9%0.340.55%
32
FNDCSchwab Fundamental International Small Company Index ETF · International Small-Cap Equity
Whole market+21.3%14.7%1.40−43.2%+78.6%0.350.39%
33
GPIXGoldman Sachs S&P 500 Premium Income ETF · Covered Call Income
Popular alternative+21.7%13.5%1.54−17.5%+80.4%—0.35%
34
CLSEConvergence Long/Short Equity ETF · Long-Short Equity
Whole market+28.4%13.8%1.89−16.4%+112%0.801.52%
35
IUSInvesco RAFI Strategic US ETF · US Total Market
Whole market+23.9%12.8%1.75−34.7%+90.1%0.660.19%
36
SDOGALPS Sector Dividend Dogs ETF · US Dividend Equity
Whole market+22.2%13.8%1.52−43.6%+82.3%0.230.36%
37
FEXFirst Trust Large Cap Core AlphaDEX Fund · Multifactor Equity
Whole market+22.2%14.7%1.45−39.5%+82.5%0.690.57%
38
SIXAETC 6 Meridian Mega Cap Equity ETF · US Large-Cap Equity
Whole market+23.0%11.2%1.93−18.4%+86.3%0.500.31%
39
AUSFGlobal X - Adaptive U.S. Factor ETF · US Multifactor Equity
Whole market+21.9%12.9%1.61−44.2%+81.3%0.280.27%
40
FDRRFidelity Dividend ETF for Rising Rates · US Dividend Equity
Whole market+24.2%13.8%1.65−36.5%+91.5%0.700.15%
41
DGTState Street SPDR Global Dow ETF · Global Equity
Whole market+24.6%13.3%1.73−34.4%+93.3%0.580.50%
42
FYLDCambria Foreign Shareholder Yield ETF · International Dividend Equity
Whole market+24.8%14.3%1.63−44.6%+94.6%0.050.59%
43
QDEFNorthern Trust Quality Dividend Defensive ETF · US Dividend Equity
Whole market+21.8%11.8%1.74−35.7%+80.6%0.690.40%
44
DOLWisdomTree True Developed International Fund · International Dividend Equity
Whole market+21.7%14.5%1.43−36.0%+80.3%0.280.48%
45
DJDInvesco Dow Jones Industrial Average Dividend ETF · High Dividend Yield
Whole market+22.4%12.2%1.73−34.7%+83.5%0.370.07%

JEPQ against its popular alternatives

The investments people most often weigh against JEPQ, compared period by period and year by year.

How do JEPQ's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 3 years against its volatility, the size of its typical price swings. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at JEPQ, which divides the map into what did better or worse on each measure.

Green points earned more than JEPQ with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

5.0%10.0%15.0%20.0%25.0%30.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%Volatility over 3 years (annualized)Annual return over 3 yearsHigher return, lower volatilityLower return, higher volatilityJEPQ: 20.3% a year, volatility 15.7%SPY (S&P 500): 23.5% a year, volatility 15.3%GPIX: 21.7% a year, volatility 13.5%XLK: 31.3% a year, volatility 25.3%QQQM: 26.4% a year, volatility 20.4%SCHG: 24.9% a year, volatility 19.4%GPIQ: 24.4% a year, volatility 17.9%SPYI: 18.1% a year, volatility 12.5%DIVO: 18.0% a year, volatility 10.8%QYLD: 16.2% a year, volatility 13.4%PBP: 14.8% a year, volatility 10.5%XYLD: 14.5% a year, volatility 10.1%JEPI: 11.4% a year, volatility 10.0%RYLD: 10.9% a year, volatility 12.6%BND: 5.1% a year, volatility 5.0%JEPQSPY (S&P 500)GPIXXLKQQQMSCHGSPYIDIVOQYLDPBPXYLDJEPIRYLDBND5.0%10.0%15.0%20.0%25.0%30.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%Volatility over 3 years (annualized)Annual return over 3 yearsHigher return, lower volatilityLower return, higher volatilityJEPQ: 20.3% a year, volatility 15.7%SPY (S&P 500): 23.5% a year, volatility 15.3%GPIX: 21.7% a year, volatility 13.5%XLK: 31.3% a year, volatility 25.3%QQQM: 26.4% a year, volatility 20.4%SCHG: 24.9% a year, volatility 19.4%GPIQ: 24.4% a year, volatility 17.9%SPYI: 18.1% a year, volatility 12.5%DIVO: 18.0% a year, volatility 10.8%QYLD: 16.2% a year, volatility 13.4%PBP: 14.8% a year, volatility 10.5%XYLD: 14.5% a year, volatility 10.1%JEPI: 11.4% a year, volatility 10.0%RYLD: 10.9% a year, volatility 12.6%BND: 5.1% a year, volatility 5.0%JEPQSPY (S&P 500)GPIXXLKQQQMSCHGSPYIDIVOQYLDPBPXYLDJEPIRYLDBND
All figures
InvestmentAnnual returnVolatility
XLK State Street Technology Select Sector SPDR ETF+31.3%25.3%
QQQM Invesco NASDAQ 100 ETF+26.4%20.4%
SCHG Schwab U.S. Large-Cap Growth ETF+24.9%19.4%
GPIQ Goldman Sachs Nasdaq-100 Premium Income ETF+24.4%17.9%
SPY S&P 500State Street SPDR S&P 500 ETF+23.5%15.3%
GPIX Goldman Sachs S&P 500 Premium Income ETF+21.7%13.5%
JEPQ This pageJPMorgan Nasdaq Equity Premium Income ETF+20.3%15.7%
SPYI Neos S&P 500(R) High Income ETF+18.1%12.5%
DIVO Amplify CWP Enhanced Dividend Income ETF+18.0%10.8%
QYLD Global X - Nasdaq 100 Covered Call ETF+16.2%13.4%
PBP Invesco S&P 500 BuyWrite ETF+14.8%10.5%
XYLD Global X - S&P 500 Covered Call ETF+14.5%10.1%
JEPI JPMorgan Equity Premium Income ETF+11.4%10.0%
RYLD Global X - Russell 2000 Covered Call ETF+10.9%12.6%
BND Vanguard Total Bond Market ETF+5.1%5.0%
Open these 15 in EasyCompare

Has JEPQ consistently beaten its popular alternatives?

This section compares JEPQ with the investments people most often weigh against it, checking each one over six periods from one month to three years. Counting how often an alternative earned more than JEPQ helps separate lasting outperformance from a single strong stretch.

A green cell means the alternative earned more than JEPQ over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 1 of 1 long-term periods.

InvestmentPeriods outperformed Short termLong termRisk · 3 yearsFund
1M3M6MYTD1Y3YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
JEPQ JPMorgan Nasdaq Equity Premium Income ETF (this page)—−3.6%+1.5%+5.6%+9.9%+13.7%+74.1%15.7%1.26−20.1%0.35%$43B—
GPIX QualifiedGoldman Sachs S&P 500 Premium Income ETF5/5 short1/1 longAll-weather−0.6%+2.1%+7.5%+12.1%+15.4%+80.4%13.5%1.54−17.5%0.35%$6.2B71%
XLK QualifiedState Street Technology Select Sector SPDR ETF3/5 short1/1 long−7.1%+1.3%+15.6%+26.8%+28.4%+126%25.3%1.21−33.6%0.08%$125B61%
QQQM QualifiedInvesco NASDAQ 100 ETF3/5 short1/1 long−5.7%0.0%+7.8%+15.3%+17.0%+102%20.4%1.26−35.0%0.15%$110B97%
QQQ QualifiedInvesco QQQ Trust, Series 13/5 short1/1 long−5.8%0.0%+7.8%+15.3%+16.9%+101%20.5%1.25−35.1%0.18%$492B97%
SCHG Broad MarketSchwab U.S. Large-Cap Growth ETF2/5 short1/1 long−3.7%+2.7%+6.6%+7.9%+9.4%+95.1%19.4%1.25−34.5%0.04%$63B88%
GPIQ TechnologyGoldman Sachs Nasdaq-100 Premium Income ETF2/5 short1/1 long−4.5%−1.0%+6.0%+13.2%+15.7%+92.4%17.9%1.32−21.1%0.35%$6.4B98%
SPYI Dividend & IncomeNeos S&P 500(R) High Income ETF5/5 short0/1 long−0.6%+3.1%+7.8%+11.1%+14.6%+64.9%12.5%1.40−16.5%0.68%$12B74%
DIVO Dividend & IncomeAmplify CWP Enhanced Dividend Income ETF5/5 short0/1 long+1.8%+4.1%+7.2%+11.3%+14.5%+64.2%10.8%1.60−30.0%0.56%$8.0B45%
QYLD TechnologyGlobal X - Nasdaq 100 Covered Call ETF5/5 short0/1 long−1.7%+4.5%+7.8%+12.9%+18.4%+56.8%13.4%1.19−24.7%0.60%$8.6B98%
PBP AlternativesInvesco S&P 500 BuyWrite ETF5/5 short0/1 long−0.1%+3.1%+8.8%+10.7%+16.5%+51.5%10.5%1.38−33.3%0.29%$393M74%
XYLD InternationalGlobal X - S&P 500 Covered Call ETF5/5 short0/1 long−0.1%+3.1%+8.7%+10.6%+15.9%+50.3%10.1%1.40−33.4%0.60%$3.4B74%
JEPI Dividend & IncomeJPMorgan Equity Premium Income ETF2/5 short0/1 long+1.6%+3.1%+4.1%+6.1%+8.3%+38.4%10.0%1.14−13.7%0.35%$46B48%
RYLD InternationalGlobal X - Russell 2000 Covered Call ETF1/5 short0/1 long−1.9%−2.2%+5.4%+8.9%+12.3%+36.3%12.6%0.88−41.5%0.60%$1.3B39%
BND BondsVanguard Total Bond Market ETF1/5 short0/1 long+0.3%−0.7%−1.7%−1.0%−1.4%+16.3%5.0%1.03−18.6%0.03%$389B—
QQQI TechnologyNEOS Nasdaq-100 High Income ETF0/5 short0/1 long−4.7%+0.3%+5.3%+10.0%+12.0%———−20.0%0.68%$15B99%
Open these 16 in EasyCompare

How did JEPQ do year by year?

This table shows each investment's total return in every full calendar year since 2023, along with where JEPQ ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with JEPQ and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Note: JEPQ began trading on May 4, 2022, so the table starts with 2023, its first full calendar year, and cannot show how it fared during the dot-com bust, the 2008 financial crisis or six other sell-offs.

Newest year first. Green marks a year in which the fund came out ahead of JEPQ; gray means the two finished within a fraction of a point. The rank row places JEPQ among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of JEPQ202520242023
JEPQ This pageJPMorgan Nasdaq Equity Premium Income ETF—+15.2%+24.9%+36.3%
Rank among alternativesTop quarter in 1 of 39 of 153 of 144 of 12
SPY S&P 500State Street SPDR S&P 500 ETF1 of 3+17.7%+24.9%+26.2%
GPIX Goldman Sachs S&P 500 Premium Income ETF1 of 2+16.2%+21.8%—
XLK State Street Technology Select Sector SPDR ETF2 of 3+24.6%+21.6%+56.0%
QQQM Invesco NASDAQ 100 ETF3 of 3+20.8%+25.7%+55.0%
SCHG Schwab U.S. Large-Cap Growth ETF3 of 3+17.4%+34.9%+50.1%
GPIQ Goldman Sachs Nasdaq-100 Premium Income ETF1 of 2+19.8%+23.2%—
SPYI Neos S&P 500(R) High Income ETF1 of 3+16.7%+19.0%+18.1%
DIVO Amplify CWP Enhanced Dividend Income ETF1 of 3+17.4%+16.2%+7.0%
QYLD Global X - Nasdaq 100 Covered Call ETF0 of 3+9.3%+19.3%+22.7%
PBP Invesco S&P 500 BuyWrite ETF0 of 3+8.5%+19.9%+11.6%
XYLD Global X - S&P 500 Covered Call ETF0 of 3+8.0%+19.5%+11.1%
JEPI JPMorgan Equity Premium Income ETF0 of 3+8.1%+12.6%+9.8%
RYLD Global X - Russell 2000 Covered Call ETF0 of 3+5.7%+10.2%+0.3%
BND Vanguard Total Bond Market ETF0 of 3+7.1%+1.4%+5.7%
QQQI NEOS Nasdaq-100 High Income ETF1 of 1+18.6%——
Open these 16 in EasyCompare

Risk and diversification

How JEPQ has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

What were JEPQ's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents JEPQ's five deepest drawdowns since it began trading in 2022, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Note: JEPQ began trading on May 4, 2022, so this list cannot include the dot-com bust, the 2008 financial crisis or six other sell-offs. The crash tests on this page show how older funds and the S&P 500 fared through those years.

Green means JEPQ fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringJEPQ fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
No named crash−20.1%−18.8%Feb 2025Apr 20252 monthsAug 20254 months
2022 bear market−16.8%−16.3%Aug 2022Oct 20222 monthsApr 20236 months
2022 bear market−13.1%−14.5%May 2022Jun 20221 monthAug 20222 months
No named crash−10.7%−7.6%Jul 2024Aug 20241 monthOct 20242 months
No named crash−8.8%−8.9%Jan 2026Mar 20262 monthsApr 20261 month

How did JEPQ do in stock market crashes?

This section measures how far JEPQ, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Note: JEPQ began trading on May 4, 2022, so its row reads "Not yet trading" for the dot-com bust, the 2008 financial crisis or seven other sell-offs. The older alternatives and the S&P 500 show how those crashes played out.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than JEPQ.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
JEPQ This pageJPMorgan Nasdaq Equity Premium Income ETF—−2.6%Not yet tradingNot yet tradingNot yet tradingNot yet tradingNot yet tradingNot yet tradingNot yet tradingNot yet tradingNot yet trading
SPY S&P 500State Street SPDR S&P 500 ETF0 of 1−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
XLK State Street Technology Select Sector SPDR ETF0 of 1−3.2%−32.4%−31.1%−23.8%−6.7%−12.7%−15.9%−2.1%−53.0%−82.0%
QQQM Invesco NASDAQ 100 ETF0 of 1−3.1%−33.4%————————
SCHG Schwab U.S. Large-Cap Growth ETF0 of 1−3.6%−32.2%−32.3%−21.6%−6.4%−16.2%−20.2%−1.8%——
SPYI Neos S&P 500(R) High Income ETF0 of 1−2.6%—————————
DIVO Amplify CWP Enhanced Dividend Income ETF0 of 1−2.6%−13.7%−29.7%−15.1%−5.4%—————
QYLD Global X - Nasdaq 100 Covered Call ETF0 of 1−2.2%−23.8%−24.7%−19.0%−6.1%−11.2%————
PBP Invesco S&P 500 BuyWrite ETF0 of 1−2.9%−18.6%−33.3%−16.1%−6.1%−9.5%−14.2%−1.9%——
XYLD Global X - S&P 500 Covered Call ETF0 of 1−2.8%−18.7%−33.4%−18.0%−6.6%−11.1%————
JEPI JPMorgan Equity Premium Income ETF0 of 1−2.6%−13.7%————————
RYLD Global X - Russell 2000 Covered Call ETF0 of 1−6.9%−19.1%−41.5%———————
BND Vanguard Total Bond Market ETF1 of 10.0%−14.6%−8.7%−1.1%−0.9%−1.5%−1.1%−0.2%−9.3%—
Open these 13 in EasyCompare

How closely does JEPQ move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares JEPQ with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 3 years.

Monthly total returns over the past 3 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than JEPQ's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
JEPQ This pageJPMorgan Nasdaq Equity Premium Income ETF82%47%1.750.79
QYLD Global X - Nasdaq 100 Covered Call ETF60%22%2.760.46
PBP Invesco S&P 500 BuyWrite ETF56%33%1.710.38
XYLD Global X - S&P 500 Covered Call ETF55%33%1.640.37
XLK State Street Technology Select Sector SPDR ETF127%81%1.561.51
QQQM Invesco NASDAQ 100 ETF110%83%1.331.26
SPYI Neos S&P 500(R) High Income ETF76%70%1.090.69
SCHG Schwab U.S. Large-Cap Growth ETF114%116%0.981.22
DIVO Amplify CWP Enhanced Dividend Income ETF75%81%0.930.54
JEPI JPMorgan Equity Premium Income ETF50%61%0.820.43
BND Vanguard Total Bond Market ETF23%34%0.660.22
RYLD Global X - Russell 2000 Covered Call ETF54%85%0.640.56
Open these 12 in EasyCompare

What diversifies JEPQ?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with JEPQ's. Because such investments tend not to fall at the same time, pairing JEPQ with them can reduce a portfolio's overall swings.

Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 3 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The last two columns show a portfolio that is 80% JEPQ and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation3Y returnSharpe80/20 mix volatility80/20 mix annual return
JEPQ JPMorgan Nasdaq Equity Premium Income ETF (this page)1.00+74.1%1.2611.2%+21.8%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.02+92.8%2.129.1%+22.0%
AVDV InternationalAvantis International Small Cap Value ETF0.30+115%1.6710.2%+23.3%
BBCA InternationalJPMorgan BetaBuilders Canada ETF0.41+98.9%1.6510.3%+22.1%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.12+83.8%1.659.6%+21.6%
EUFN InternationaliShares MSCI Europe Financials ETF0.21+139%1.6310.1%+24.5%
BKGI InternationalBNY Mellon Global Infrastructure Income ETF0.02+84.9%1.639.4%+22.0%
EFAV InternationaliShares MSCI EAFE Min Vol Factor ETF-0.11+66.2%1.629.0%+20.7%
EFV InternationaliShares MSCI EAFE Value ETF0.14+92.0%1.599.6%+22.2%

Stocks

InvestmentCorrelation3Y returnSharpe80/20 mix volatility80/20 mix annual return
JEPQ JPMorgan Nasdaq Equity Premium Income ETF (this page)1.00+74.1%1.2611.2%+21.8%
CM Banks - DiversifiedCanadian Imperial Bank of Commerce0.44+265%2.2911.9%+27.1%
BNY Investment - Banking & Investment ServicesBank of New York Mellon Corp0.38+277%2.2110.9%+28.0%
RY Banks - DiversifiedRoyal Bank of Canada0.44+176%2.0911.3%+24.8%
TIGO Telecommunications ServicesMillicom International Cellular S.A.-0.08+545%1.9910.0%+34.0%
CIB Banks - RegionalGrupo Cibest S.A.0.02+405%1.9711.1%+30.7%
Open these 14 in EasyCompare

Common questions

What was JEPQ's worst drawdown?

JEPQ's deepest decline since it began trading in 2022 was 20.1%, from February to April 2025. It took four months from the low to climb back to its old high. Because JEPQ launched in May 2022, that record does not include the dot-com bust, the 2008 financial crisis or six other sell-offs.

What were JEPQ's best and worst years?

Over three full calendar years, JEPQ's best year was 2023, when it returned 36.3%. Its worst was 2025, with a return of +15.2%.

Is there a better investment than JEPQ?

Among JEPQ's popular alternatives, GPIX earned more than JEPQ with less volatility over the past 3 years: 21.7% a year at 13.5% volatility, against 20.3% a year at 15.7%. Looking beyond its popular alternatives, BALI (equity income) earned more than JEPQ with less volatility over the past 3 years: 21.5% a year at 12.7% volatility, against 20.3% a year at 15.7%.

Is JEPQ more volatile than the S&P 500?

Yes. JEPQ's volatility over the past 3 years was 15.7%, 1.0 times the S&P 500's 15.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, JEPQ's return lands within 15.7% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

What is JEPQ's Sharpe ratio?

JEPQ's Sharpe ratio over the past 3 years was 1.26, against 1.47 for the S&P 500, so JEPQ earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

How correlated is JEPQ with the S&P 500?

Over the past 3 years, JEPQ's monthly returns had a correlation of 0.88 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They move almost in lockstep, so holding both adds little diversification. In the table, the correlation column measures each option against JEPQ instead: the lower it is, the more that option would diversify a JEPQ holding.

What are the best alternatives to JEPQ?

Of the 15 popular alternatives we compared, four outperformed JEPQ in at least 3 of 5 short-term and 1 of 1 long-term timeframes, with dividends reinvested: GPIX, XLK and QQQM.

Did JEPQ outperform the S&P 500?

JEPQ finished ahead of the S&P 500 (SPY) in one of three full calendar years. In 2025, it returned +15.2%, against +17.7% for the index.

What diversifies JEPQ?

These had a low correlation with JEPQ over the past 3 years and still earned a positive 3-year return: among large ETFs, LVHI (correlation 0.02), AVDV (correlation 0.30) and BBCA (correlation 0.41); among large stocks, CM (correlation 0.44), BNY (correlation 0.38) and RY (correlation 0.44). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to JEPQ

Other stocks and ETFs