JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) Valuation

NASDAQ: JEPQP/E, earnings yield and other ratios of the holdings combined.

JEPQ valuation today

Holdings combined · company data as of Oct 26, 2026

P/E (TTM): 30.7
Forward P/E: 22.6
Price / sales: 6.10
Price / book: 9.19
EV / EBITDA: 20.9
Earnings yield: 3.25%
Dividend yield: 0.59%
Return on equity: 29.9%
Net margin: 19.9%
Beta: 1.42

JEPQ valuation vs other stock ETFs

P/E (TTM)Forward P/E

JEPQ valuation compared with other stock ETFs
ETF	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE	Net margin	Loss-makers
JEPQ	30.7	22.6	6.10	9.19	0.59%	29.9%	19.9%	3.9%
SPY	25.9	19.9	3.67	5.47	1.08%	21.1%	14.2%	1.9%
QQQ	34.2	23.4	5.93	9.27	0.58%	27.1%	17.4%	6.9%
DIA	20.9	18.4	3.16	5.52	1.55%	26.4%	15.1%	0.0%
VTI	28.2	19.4	3.31	5.00	1.07%	17.7%	11.8%	4.6%
IWM	n/m	13.9	1.25	2.03	1.38%	−1.7%	−1.0%	28.1%

Same method for every fund. n/m = not meaningful (combined trailing earnings below zero or close to it). Loss-makers = weight of holdings with negative trailing earnings.

JEPQ valuation by sector

P/E (TTM)Forward P/E

JEPQ valuation by sector
Sector	Weight	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE
Technology	47.7%	34.6	22.3	11.61	13.68	0.46%	39.5%
Communication Services	10.2%	19.0	18.7	5.07	5.50	0.58%	29.0%
Consumer Cyclical	9.2%	30.2	28.4	3.86	8.72	0.27%	28.9%
Consumer Defensive	5.2%	33.5	28.7	1.66	7.93	1.44%	23.7%
Healthcare	3.9%	34.2	18.9	5.21	6.63	1.03%	19.4%
Industrials	3.4%	39.3	37.7	6.28	7.52	0.64%	19.2%
Utilities	0.8%	20.5	17.0	3.80	2.31	3.02%	11.2%
Basic Materials	0.7%	32.2	23.6	6.48	5.48	1.28%	17.0%
Financial Services	0.4%	20.6	16.2	3.94	7.17	0.69%	34.8%
Energy	0.3%	38.8	10.0	3.53	1.37	2.16%	3.5%
Real Estate	0.2%	27.7	29.2	12.36	2.37	3.40%	8.6%

JEPQ earnings yield vs bond yields

JEPQ earnings yield (forward)

4.42%

JEPQ earnings yield (trailing)

3.25%

JEPQ dividend yield

0.59%

Bond market yield (AGG)

5.33%

T-bill yield (BIL)

3.91%

Earnings yield = earnings ÷ price (1 ÷ P/E). The gap to bond yields is a rough gauge of the extra return stocks are priced to deliver.

How JEPQ weight splits by P/E

Share of the covered weight in companies with a trailing P/E in each range.

JEPQ largest holdings: valuation

JEPQ largest holdings valuation
Symbol	Company	Weight	P/E	Fwd P/E	P/S	Div. yield	Share of earnings
NVDA	NVIDIA Corporation	7.03%	27.1	24.9	17.1	0.47%	9.75%
AAPL	Apple Inc.	6.92%	39.4	35.2	10.7	0.31%	6.60%
MSFT	Microsoft Corporation	5.68%	29.5	25.1	11.8	0.74%	7.24%
GOOG	Alphabet Inc.	4.72%	16.9	21.8	9.2	0.26%	10.48%
MU	Micron Technology, Inc.	3.94%	11.8	7.0	7.5	0.07%	12.53%
AMZN	Amazon.com, Inc.	3.71%	20.1	23.6	3.5	—	6.94%
AMD	Advanced Micro Devices, Inc.	3.52%	134.9	39.5	20.9	—	0.98%
META	Meta Platforms, Inc.	2.84%	26.7	22.1	7.9	0.30%	3.99%
TSLA	Tesla, Inc.	2.26%	328.4	158.7	13.5	—	0.26%
WMT	Walmart Inc.	1.94%	43.0	38.0	1.3	0.83%	1.70%
AVGO	Broadcom Inc.	1.94%	43.3	19.4	17.6	0.79%	1.69%
LRCX	Lam Research Corporation	1.58%	45.8	33.7	14.2	0.50%	1.30%
SPCX	Space Exploration Technologies Corp.	1.57%	—	200.0	83.5	—	−0.26%
COST	Costco Wholesale Corporation	1.33%	47.6	40.3	1.4	0.59%	1.05%
PLTR	Palantir Technologies Inc.	1.31%	160.4	85.5	72.6	—	0.31%
STX	Seagate Technology Holdings plc	1.29%	46.0	25.7	11.9	0.46%	1.05%
PANW	Palo Alto Networks, Inc.	1.25%	855.0	94.3	24.4	—	0.05%
CSCO	Cisco Systems, Inc.	1.20%	32.2	19.8	6.7	1.56%	1.39%
NFLX	Netflix, Inc.	1.12%	22.2	18.7	6.1	—	1.90%
ADI	Analog Devices, Inc.	1.10%	47.0	23.2	13.8	1.11%	0.88%
INTC	Intel Corporation	1.05%	—	63.3	8.3	—	−0.93%
MRVL	Marvell Technology, Inc.	0.97%	72.3	62.1	21.7	0.11%	0.50%
CRWD	CrowdStrike Holdings, Inc.	0.97%	—	208.3	43.1	—	0.01%
ASML	ASML Holding N.V.	0.93%	40.4	28.9	16.0	0.55%	0.86%
TXN	Texas Instruments Incorporated	0.79%	42.1	27.5	13.0	2.20%	0.71%

Share of earnings = the holding's part of the fund's combined trailing profit. Green: earns more than its weight; orange: less. Symbol links go to each company's key metrics.

About JEPQ valuation

Adding up its 91 holdings with company data, JEPQ trades at 30.7 times trailing earnings and 22.6 times analysts' forward estimates, with a price-to-book ratio of 9.19 and a dividend yield of 0.59%. Its earnings yield of 3.25% is 2.07 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).

The ten largest holdings are 42.6% of the fund and earn 60.5% of its combined profit. By sector, Industrials is the most expensive at 39.3 times earnings and Communication Services the cheapest at 19.0. Companies that lost money over the past year are 3.9% of the covered weight.

How these figures are calculated. Each ratio treats the fund as one company: the earnings, sales and book value of every holding are added up in proportion to its weight and divided into the fund's price. In practice that is a weighted harmonic mean, so a single stock with a very high P/E cannot distort the result, and loss-making companies reduce the fund's earnings instead of being dropped. Covers 99.6% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.

JEPQ valuation FAQ

What is the P/E ratio of JEPQ?

Based on its holdings, JEPQ has a trailing P/E of 30.7 and a forward P/E of 22.6 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).

What is the earnings yield of JEPQ?

The trailing earnings yield is 3.25% (1 ÷ P/E) and the forward earnings yield 4.42%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.

Is JEPQ more expensive than the S&P 500?

JEPQ trades at 30.7 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 22.6 and 19.9.

What is the price-to-book ratio of JEPQ?

The holdings of JEPQ trade at 9.19 times book value, with a combined return on equity of 29.9%.

Which sector in JEPQ has the highest P/E?

Industrials has the highest P/E at 39.3 and Communication Services the lowest at 19.0.