JEPI vs
Backtest JEPI vs JEPQMay 4, 2022 – Nov 12, 2026, JEPQ sets the start date
Growth of $10,000
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Key metrics · May 4, 2022 – Nov 12, 2026
| Return | JEPI | JEPQ |
|---|---|---|
| Final balance | $14,410 | $18,236 |
| Total return | +44.10% | +82.36% |
| CAGR | +8.41% | +14.20% |
| Calendar years | JEPI | JEPQ |
|---|---|---|
| Best year | +12.57% | +36.27% |
| Worst year | +8.09% | +15.18% |
| Positive years | 3 of 3 | 3 of 3 |
| Risk | JEPI | JEPQ |
|---|---|---|
| Max drawdown | −13.26% | −20.07% |
| Longest drawdown | 6 months | 1 year |
| Volatility (daily, annualized) | 10.96% | 17.04% |
| Risk-adjusted | JEPI | JEPQ |
|---|---|---|
| Sharpe ratio | 0.79 | 0.87 |
| Sortino ratio | 1.13 | 1.23 |
| Calmar ratio | 0.63 | 0.71 |
Trailing returns · May 4, 2022 – Nov 12, 2026
| Period | JEPI | JEPQ | JEPI − JEPQ |
|---|---|---|---|
| YTD | +8.30% | +6.83% | +1.47% |
| 1Y | +9.73% | +7.74% | +2.00% |
| 3Y | +10.98% | +17.14% | −6.16% |
Rolling returns · May 4, 2022 – Nov 12, 2026
| Period | JEPI median | JEPQ median | More often ahead |
|---|---|---|---|
| 1Y | +9.23% | +20.86% | JEPQ 96% |
| 3Y | +9.86% | +20.77% | JEPQ 100% |
Worst drawdowns · JEPI · May 4, 2022 – Nov 12, 2026
| Decline | Peak | Bottom | Recovered | Length |
|---|---|---|---|---|
| −13.3% | Feb 2025 | Apr 2025 | Aug 2025 | 6 months |
| −10.5% | Aug 2022 | Sep 2022 | Nov 2022 | 3 months |
| −10.1% | May 2022 | Jun 2022 | Aug 2022 | 3 months |
| −6.7% | Sep 2023 | Oct 2023 | Dec 2023 | 3 months |
| −6.7% | Feb 2026 | Mar 2026 | Aug 2026 | 5 months |
| Decline | Peak | Bottom | Recovered | Length |
|---|---|---|---|---|
| −20.1% | Feb 2025 | Apr 2025 | Aug 2025 | 6 months |
| −16.8% | May 2022 | Oct 2022 | Apr 2023 | 1 year |
| −12.3% | Oct 2026 | Nov 2026 | Not yet | 1 month so far |
| −10.7% | Jul 2024 | Aug 2024 | Oct 2024 | 3 months |
| −8.8% | Jan 2026 | Mar 2026 | Apr 2026 | 2 months |
Annual returns
| Year | JEPI | JEPQ | JEPI − JEPQ |
|---|---|---|---|
| 2022from May 4 | −0.43% | −12.89% | +12.45% |
| 2023 | +9.82% | +36.27% | −26.45% |
| 2024 | +12.57% | +24.85% | −12.28% |
| 2025 | +8.09% | +15.18% | −7.08% |
| 2026to Nov 12 | +8.30% | +6.83% | +1.47% |
Holdings overlap
As of Jun 30, 2026
35 holdings in common, of 127 in JEPI and 109 in JEPQ
| Largest in common | JEPI | JEPQ | Overlap |
|---|---|---|---|
| LRCXLam Research Corporation | 1.56% | 2.85% | 1.56% |
| NVDANVIDIA Corporation | 1.52% | 6.59% | 1.52% |
| AAPLApple Inc. | 1.52% | 5.74% | 1.52% |
| AMZNAmazon.com, Inc. | 1.46% | 3.62% | 1.46% |
| AVGOBroadcom Inc. | 1.32% | 2.13% | 1.32% |
| MSFTMicrosoft Corporation | 1.28% | 3.84% | 1.28% |
| METAMeta Platforms, Inc. | 1.21% | 2.35% | 1.21% |
| COSTCostco Wholesale Corporation | 1.11% | 1.15% | 1.11% |
| ADIAnalog Devices, Inc. | 1.10% | 1.10% | 1.10% |
| WMTWalmart Inc. | 0.91% | 1.76% | 0.91% |
About JEPI vs JEPQ
Both are J.P. Morgan funds that hold stocks, sell call options through notes from banks and pay out monthly. JEPI picks its stocks and options from the S&P 500 and JEPQ from the Nasdaq-100, so JEPQ holds more technology companies. JEPQ launched in May 2022, which is where the comparison starts.
JEPI returned 8.4% a year from May 2022 to Nov 2026, against 14.2% for JEPQ. Both fell furthest in 2025, JEPI by 13.3% and JEPQ by 20.1%. JEPQ beat JEPI in all 3 full years and in every rolling 3-year period.
Uses daily closing prices with dividends reinvested. Fund fees are included, but not taxes or trading costs. The comparison starts on May 4, 2022, when JEPQ's prices begin.