JEPQ’s worst drop since 2022 was 20%
JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) fell 20% from Feb 2025 to Apr 2025. It took 0.5 years from that peak to close at a new high, in Aug 2025. Over the same years the S&P 500 fell as much as 19%.
That drop is milder than most. It ranks 174th of the 203 ETFs PortfolioAutopsy tracks, counted from the deepest.
Drawdown from the last high, 2022 to now
How JEPQ held up in each crash
| Crash | Years | JEPQ | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | not trading yet | −47.5% |
| Financial crisis | 2007–09 | not trading yet | −55.2% |
| COVID crash | 2020 | not trading yet | −33.7% |
| 2022 rate shock | 2022 | not trading yet | −24.5% |
Each number is the deepest fall from a high inside that window, using daily prices with dividends reinvested.
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What was JEPQ’s maximum drawdown?
JEPQ’s deepest fall since 2022 was 20.1%, from its high on February 19, 2025 to its low on April 8, 2025. The figure uses daily prices with dividends reinvested.
How long did JEPQ take to recover?
0.5 years. JEPQ first closed above its Feb 2025 high again on August 8, 2025.
Was JEPQ riskier than the S&P 500?
Over the same years, JEPQ’s worst drop was 20.1% against 18.8% for the S&P 500 (SPY), and its worst 12 months were −4.8% against −2.9%.
Compare with
Daily adjusted closes from Yahoo Finance, May 5, 2022 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.