JEPI vs JEPQ: Which ETF Is Better in 2026?
A metric-by-metric comparison of JPMorgan Equity Premium Income ETF (JEPI) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) — both Covered Call / Income funds — using ETFValuer's daily-updated rankings.
Educational content — not financial advice. Data as of July 5, 2026. ~5 minute read.
The Verdict
On ETFValuer's overall model — which blends return, risk-adjusted performance, cost, drawdown, size and volatility — JEPQ scores higher: 64.1 (Grade C) versus 57.0 for JEPI. That doesn't make JEPI a bad fund; it means JEPQ currently edges it out on this specific mix of factors. Read the metric-by-metric breakdown below before deciding which matters more for your own portfolio.
Head-to-Head: Every Metric
| JEPI | JEPQ | |
|---|---|---|
| Category | Covered Call / Income | Covered Call / Income |
| Expense ratio | 0.35% | 0.35% |
| Fund size (AUM) | $44.6B | $39.6B |
| Dividend yield | 8.45% | 10.11% |
| 1-year return | +7.44% | +21.78% |
| 3-year return | +30.07% | +69.24% |
| Volatility | 8.10% | 13.46% |
| Max drawdown | -13.26% | -20.07% |
| Sharpe ratio | 0.30 | 1.25 |
| ETFValuer score | 57.0 | 64.1 |
| Grade | C | C |
| Rank (of ~150) | #85 | #55 |
Bold marks the better value in each row. "Better" is directional only (e.g. lower cost, higher return) — it isn't a recommendation by itself. See the full methodology.
Cost
On cost, the two are essentially tied — JEPI charges 0.35% a year versus JEPQ's 0.35%. A difference this small (about $0.00 a year on a $10,000 position) isn't a reason to choose one fund over the other.
Performance & Risk
Over the trailing 3 years, JEPQ returned +69.24% versus +30.07% for JEPI — a gap of about 39.2 percentage points. On risk, JEPI has held up better historically, with a shallower max drawdown (-13.26% vs. -20.07%). JEPQ currently has the better risk-adjusted return (Sharpe ratio of 1.25 vs. 0.30), meaning it delivered more return per unit of volatility taken on.
Frequently Asked Questions
Is JEPI or JEPQ better?
On ETFValuer's overall model — which blends return, risk-adjusted performance, cost, drawdown, size and volatility — JEPQ scores higher: 64.1 (Grade C) versus 57.0 for JEPI. That doesn't make JEPI a bad fund; it means JEPQ currently edges it out on this specific mix of factors. Read the metric-by-metric breakdown below before deciding which matters more for your own portfolio.
Which has the lower expense ratio, JEPI or JEPQ?
JEPQ currently has the lower expense ratio (0.35% vs. 0.35%).
Can I hold both JEPI and JEPQ?
Since JEPI and JEPQ are both Covered Call / Income funds, they likely hold significant overlapping positions — owning both usually adds cost and complexity without meaningfully improving diversification. Pick one rather than holding both at full weight.
Go deeper on either fund
Full daily-updated metrics, holdings context, and category peers.