ACIO vs. JEPI

Last updated Jun 23, 2026

ACIO (Aptus Collared Income Opportunity ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - ACIO is a Diversified Portfolio fund actively managed by Aptus Capital Advisors, while JEPI is a Dividend fund actively managed by JPMorgan. Both are actively managed. Over the past 5 years, ACIO returned 9.91%/yr vs 7.51%/yr for JEPI. A 0.77 correlation means they provide meaningful diversification when combined. ACIO charges 0.79%/yr vs 0.35%/yr for JEPI.

Performance

ACIO vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aptus Collared Income Opportunity ETF (ACIO) and JPMorgan Equity Premium Income ETF (JEPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ACIO achieves a 6.05% return, which is significantly higher than JEPI's 1.34% return.

ACIO

• 1D: -0.41%
• 1M: -0.45%
• YTD: 6.05%
• 6M: 5.72%
• 1Y: 15.07%
• 3Y*: 15.24%
• 5Y*: 9.91%
• 10Y*: —

JEPI

• 1D: -0.05%
• 1M: 0.23%
• YTD: 1.34%
• 6M: 1.18%
• 1Y: 8.97%
• 3Y*: 9.13%
• 5Y*: 7.51%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ACIO vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ACIO Aptus Collared Income Opportunity ETF	6.05%	9.03%	21.92%	15.90%	-10.31%	18.03%	15.18%
JEPI JPMorgan Equity Premium Income ETF	1.34%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.39%

Correlation

The correlation between ACIO and JEPI is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (All Time) Calculated using the full available price history since May 21, 2020	0.77

The correlation between ACIO and JEPI shifts across timeframes, from 0.58 (1 year) to 0.77 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ACIO vs. JEPI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ACIO

ACIO Risk / Return Rank: 49
ACIO Sharpe Ratio Rank: 52
ACIO Sortino Ratio Rank: 51
ACIO Omega Ratio Rank: 52
ACIO Calmar Ratio Rank: 43
ACIO Martin Ratio Rank: 50

JEPI

JEPI Risk / Return Rank: 30
JEPI Sharpe Ratio Rank: 32
JEPI Sortino Ratio Rank: 32
JEPI Omega Ratio Rank: 31
JEPI Calmar Ratio Rank: 28
JEPI Martin Ratio Rank: 30

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ACIO vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aptus Collared Income Opportunity ETF (ACIO) and JPMorgan Equity Premium Income ETF (JEPI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ACIO	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	1.73	1.12	+0.60
Sortino ratio: Return per unit of downside risk	2.40	1.66	+0.74
Omega ratio: Gain probability vs. loss probability	1.32	1.21	+0.11
Calmar ratio: Return relative to maximum drawdown	2.10	1.35	+0.75
Martin ratio: Return relative to average drawdown	8.17	4.00	+4.17

ACIO vs. JEPI - Sharpe Ratio Comparison

The current ACIO Sharpe Ratio is 1.73, which is higher than the JEPI Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of ACIO and JEPI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ACIO vs. JEPI - Drawdown Comparison

The maximum ACIO drawdown since its inception was -14.19%, roughly equal to the maximum JEPI drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for ACIO and JEPI.

Drawdown Indicators

	ACIO	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-14.19%	-13.71%	-0.48%
Max Drawdown (1Y) Largest decline over 1 year	-7.22%	-6.68%	-0.54%
Max Drawdown (3Y) Largest decline over 3 years	-12.12%	-13.26%	+1.14%
Max Drawdown (5Y) Largest decline over 5 years	-14.00%	-13.71%	-0.29%
Current Drawdown Current decline from peak	-1.72%	-3.69%	+1.97%
Average Drawdown Average peak-to-trough decline	-3.18%	-2.13%	-1.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	2.24%	-0.39%

Volatility

ACIO vs. JEPI - Volatility Comparison

Aptus Collared Income Opportunity ETF (ACIO) has a higher volatility of 3.46% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.35%. This indicates that ACIO's price experiences larger fluctuations and is considered to be riskier than JEPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACIO	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.46%	2.35%	+1.11%
Volatility (6M) Calculated over the trailing 6-month period	6.77%	6.28%	+0.49%
Volatility (1Y) Calculated over the trailing 1-year period	8.79%	8.04%	+0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.12%	11.08%	+0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.67%	10.79%	+0.88%

ACIO vs. JEPI - Expense Ratio Comparison

ACIO has a 0.79% expense ratio, which is higher than JEPI's 0.35% expense ratio.

Dividends

ACIO vs. JEPI - Dividend Comparison

ACIO's dividend yield for the trailing twelve months is around 0.38%, less than JEPI's 8.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
ACIO Aptus Collared Income Opportunity ETF	0.38%	0.37%	0.44%	0.72%	1.51%	0.61%	1.02%	1.32%
JEPI JPMorgan Equity Premium Income ETF	8.17%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%

Frequently Asked Questions

Can I hold both ACIO and JEPI in my portfolio?

ACIO and JEPI have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ACIO or JEPI?

ACIO has higher volatility (3.46%) compared to JEPI (2.35%). In terms of maximum drawdown, ACIO dropped -14.19% vs JEPI's -13.71%.

Which ETF is better, ACIO or JEPI?

On 5-year performance, ACIO leads with 9.91% vs 7.51% for JEPI. On fees, JEPI is cheaper at 0.35% per year. On volatility, JEPI has been the lower-risk option at 2.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ACIO or JEPI?

Over the 5-year period, ACIO has performed better with a 9.91% return vs 7.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ACIO or JEPI?

JEPI is cheaper with a 0.35% expense ratio, compared with 0.79% for ACIO.

Which ETF pays a higher dividend yield, ACIO or JEPI?

JEPI has the higher dividend yield at 8.17%, compared with 0.38% for ACIO.

What is the main difference between ACIO and JEPI?

ACIO is categorized as Diversified Portfolio, while JEPI is Dividend. They also come from different issuers: Aptus Capital Advisors and JPMorgan. Their fees differ too: 0.79% for ACIO and 0.35% for JEPI.

Which has better risk-adjusted returns?

ACIO currently has the higher Sharpe Ratio (1.73 vs 1.12), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.