ETF Evaluator:
JPMorgan Nasdaq Equity Premium Inc ETF ()
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(as of Nov 13)
Best Performing in Derivative Income - Diversified Over the Last Year
| 24.9% | Federated Hermes Enhanced Income ETF (PAYR) |
| 21.1% | Amplify COWS Covered Call ETF (HCOW) |
| 20.5% | Parametric Equity Premium Income ETF (PAPI) |
| 20.2% | First Trust Small Cp BuyWrt Inc ETF (FTKI) |
| 19.9% | Cullen Enhanced Equity Income ETF (DIVP) |
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ETF Details
JPMorgan Nasdaq Equity Premium Inc ETF Overview
JPMorgan Nasdaq Equity Premium Inc ETF (JEPQ) is an actively managed Nontraditional Equity Derivative Income - Diversified exchange-traded fund (ETF). JPMorgan launched the ETF in 2022.
The investment seeks current income while maintaining prospects for capital appreciation.
The fund seeks to achieve this objective by (1) creating an actively managed portfolio of equity securities comprised significantly of those included in the fund’s primary benchmark, the Nasdaq-100 Index® (the Benchmark), and (2) through equity-linked notes (ELNs), selling call options with exposure to the Benchmark. It is non-diversified.
About JPMorgan Nasdaq Equity Premium Inc ETF (JEPQ)
There are 4 members of the management team with an average tenure of 3.25 years: Hamilton Reiner (2022), Eric Moreau (2022), Judy Jansen (2024) and Matthew Bensen (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: NASDAQ 100 TR USD index with a weighting of 100% and S&P 500 (TR) (1970) index with a weighting of 100%. JPMorgan Nasdaq Equity Premium Inc ETF has 111 securities in its portfolio. The top 10 holdings constitute 42.3% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
JPMorgan Nasdaq Equity Premium Inc ETF is part of the Equity global asset class and is within the Nontraditional Equity ETF group. JPMorgan Nasdaq Equity Premium Inc ETF has 1.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 80.1% There is 1.9% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 17.1% convertible bond). JPMorgan Nasdaq Equity Premium Inc ETF has 0.9% of the portfolio in cash.
Assets Under Management
The fund has $42 billion in total assets, which is above the $1 billion average for the Derivative Income - Diversified category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
JEPQ Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The JPMorgan Nasdaq Equity Premium Inc ETF expense ratio is below average compared to funds in the Derivative Income - Diversified category. JPMorgan Nasdaq Equity Premium Inc ETF has an expense ratio of 0.35%, which is 52% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. JPMorgan Nasdaq Equity Premium Inc ETF has a portfolio turnover rate of 174%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 65% for the Derivative Income - Diversified category.
Recently, in the month of October 2026, JPMorgan Nasdaq Equity Premium Inc ETF returned -5.1%, which earned it a grade of D, as the Derivative Income - Diversified category had an average return of -2.0%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
JPMorgan Nasdaq Equity Premium Inc ETF has a trailing yield of 11.96%, which is above the 6.26% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
JPMorgan Nasdaq Equity Premium Inc ETF Grades
Year to date, the ETF has returned 8.4%, 0.6 percentage points worse than the category, which translates into a grade of C. The fund has returned 9.5% over the past year (grade of D) and 20.0% over the past three years (grade of B).
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JEPQ Trailing NAV Total Returns Data as of 10/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| JEPQ Return (NAV) | -5.1% | 2.2% | 9.5% | 20.0% | na | na |
| JEPQ Return (Price) | -5.1% | 2.1% | 9.5% | 20.0% | na | na |
| NAV +/- Price Return | 0.016% | 0.039% | 0.018% | 0.007% | na | na |
| Derivative Income - Diversified Avg | -2.0% | 0.9% | 10.1% | 16.5% | 8.1% | 8.1% |
| JEPQ Grade (NAV) | D | B | D | B | na | na |
| +/- Category (NAV) | -3.2% | 1.2% | -0.6% | 3.5% | na | na |
| JEPQ Tax-Cost Ratio | na | na | 4.6% | 4.3% | na | na |
JEPQ Annual NAV Total ReturnsData as of 10/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| JEPQ Return (NAV) | 8.4% | 15.2% | 24.8% | 36.3% | na | na | na | na | na | na | na |
| JEPQ Return (Price) | 8.3% | 15.2% | 24.9% | 36.2% | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.005% | -0.000% | 0.003% | -0.001% | na | na | na | na | na | na | na |
| Derivative Income - Diversified Avg | 8.9% | 13.8% | 15.9% | 16.3% | -11.8% | 19.1% | 3.7% | 19.2% | -5.9% | 14.0% | 7.1% |
| JEPQ Grade (NAV) | C | C | A | A | na | na | na | na | na | na | na |
| +/- Category | -0.6% | 1.4% | 8.9% | 20.0% | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.80 |
| R-Squared: | 74% |
| Standard Deviation: | 11.8% |
| Category Risk Index: | 1.14 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 0.98 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 12.0% |
| Total Assets: | $ 42,492 Mil |
| Share Class Assets: | $ 42,492 Mil |
| Turnover: | 174.0% |
| Expense Ratio: | 0.35% |
| Index Fund: | No |
| Index Tracked: | NASDAQ 100 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 4.5 years | |||
| Average Tenure: 3.3 years | |||
| Managers (Year): Reiner Hamilton (2022), Moreau Eric (2022), Jansen Judy (2024), Bensen Matthew (2024) | |||
Portfolio Composition (as of 10/30/26)
| # of Holdings: | 111 |
| % in Top 10 Holdings: | 42.3% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 1.9% |
Portfolio Allocation |
|
| Domestic Stock: | 80.1% |
| Foreign Stock: | 1.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 17.1% |
| Other: | 0.0% |
| Cash: | 0.9% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | JPMorgan |
| Phone Number: | 844-457-6383 |
| Website: | jpmorganfunds.com |
| Inception Date: | May 3, 2022 |
Expenses and Fees
| Expense Ratio (%): | 0.35% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.73% |
