JEPQ vs QYLD: returns, risk and drawdowns compared
JPMorgan Nasdaq Equity Premium Income ETF against Global X NASDAQ 100 Covered Call ETF, over the same 4 years (June 2022 to October 2026) with dividends reinvested.
Data updated October 2026
From June 2022 to October 2026, JEPQ returned 16.8% a year and QYLD 13.3% a year on average, so JEPQ came out ahead by 3.5% a year. JEPQ was the more volatile of the two (13.7% against 10.6% a year), and the deepest falls from a month-end high were 13.5% for JEPQ and 13.3% for QYLD.
The correlation of monthly returns was 0.92: they moved almost in lockstep. Over 18 rolling 3-year periods, JEPQ did better in 100% and QYLD in 0%.
Side by side
| JEPQ | QYLD | |
|---|---|---|
| Annual return (CAGR) | +16.8% | +13.3% |
| Total return | +99% | +74% |
| Annual volatility | 13.7% | 10.6% |
| Maximum drawdown (month-end) | −13.5% | −13.3% |
| Worst month | −8.8% | −7.3% |
| Best month | +8.2% | +7.2% |
| Positive months | 70% | 72% |
| Best year | 2023: +36.3% | 2023: +22.8% |
| Worst year | 2025: +15.2% | 2025: +9.3% |
| 1-year return | +16.3% | +20.5% |
| 5 years, a year | — | +8.5% |
| 10 years, a year | — | +9.9% |
| 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: JEPQ vs QYLD
Returns by calendar year
| Year | JEPQ | QYLD |
|---|---|---|
| 2025 | +15.2% | +9.3% |
| 2024 | +24.9% | +19.4% |
| 2023 | +36.3% | +22.8% |
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, JEPQ or QYLD?
From June 2022 to October 2026, JEPQ returned +16.8% a year and QYLD +13.3% a year, with dividends reinvested. Over rolling 3-year periods JEPQ did better in 100% of cases. Past returns do not predict future returns.
Which is riskier, JEPQ or QYLD?
Over the same months annual volatility was 13.7% for JEPQ and 10.6% for QYLD; the deepest fall from a month-end high was 13.5% and 13.3%, and the worst single month −8.8% and −7.3%.
How correlated are JEPQ and QYLD?
The correlation of their monthly returns was 0.92: they moved almost in lockstep. Holding both adds little diversification compared with holding one.
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.