JEPI vs JEPQ: returns, risk and drawdowns compared
JPMorgan Equity Premium Income ETF against JPMorgan Nasdaq Equity Premium Income ETF, over the same 4 years (June 2022 to October 2026) with dividends reinvested.
Data updated October 2026
From June 2022 to October 2026, JEPI returned 8.6% a year and JEPQ 16.8% a year on average, so JEPQ came out ahead by 8.2% a year. JEPQ was the more volatile of the two (13.7% against 9.6% a year), and the deepest falls from a month-end high were 9.1% for JEPI and 13.5% for JEPQ.
The correlation of monthly returns was 0.67: they moved together only in part. Over 18 rolling 3-year periods, JEPI did better in 0% and JEPQ in 100%.
Side by side
| JEPI | JEPQ | |
|---|---|---|
| Annual return (CAGR) | +8.6% | +16.8% |
| Total return | +44% | +99% |
| Annual volatility | 9.6% | 13.7% |
| Maximum drawdown (month-end) | −9.1% | −13.5% |
| Worst month | −6.3% | −8.8% |
| Best month | +7.5% | +8.2% |
| Positive months | 70% | 70% |
| Best year | 2024: +12.6% | 2023: +36.3% |
| Worst year | 2025: +8.1% | 2025: +15.2% |
| 1-year return | +8.7% | +16.3% |
| 5 years, a year | +7.4% | — |
| 10 years, a year | — | — |
| Trading currency | USD | USD |
First nine rows: the same 53 months for both funds. Trailing returns: to each fund’s last close.
Growth of 10,000: JEPI vs JEPQ
Returns by calendar year
| Year | JEPI | JEPQ |
|---|---|---|
| 2025 | +8.1% | +15.2% |
| 2024 | +12.6% | +24.9% |
| 2023 | +9.8% | +36.3% |
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
The comparison uses only the months in which both funds have prices, so the figures cover the same period even when one fund is older.
Questions
Which has returned more, JEPI or JEPQ?
From June 2022 to October 2026, JEPI returned +8.6% a year and JEPQ +16.8% a year, with dividends reinvested. Over rolling 3-year periods JEPI did better in 0% of cases. Past returns do not predict future returns.
Which is riskier, JEPI or JEPQ?
Over the same months annual volatility was 9.6% for JEPI and 13.7% for JEPQ; the deepest fall from a month-end high was 9.1% and 13.5%, and the worst single month −6.3% and −8.8%.
How correlated are JEPI and JEPQ?
The correlation of their monthly returns was 0.67: they moved together only in part. Combining them has historically given some diversification.
More comparisons
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.