ARI vs. JEPI

Last updated Jun 4, 2026

ARI (Apollo Commercial Real Estate Finance, Inc.) is a stock, while JEPI (JPMorgan Equity Premium Income ETF) is Dividend fund actively managed by JPMorgan. Over the past 5 years, ARI returned 3.94%/yr vs 7.26%/yr for JEPI. At a 0.48 correlation, their price movements are largely independent.

Performance

ARI vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Apollo Commercial Real Estate Finance, Inc. (ARI) 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, ARI achieves a 15.23% return, which is significantly higher than JEPI's 0.15% return.

ARI

• 1D: -1.00%
• 1M: -0.91%
• YTD: 15.23%
• 6M: 12.74%
• 1Y: 22.08%
• 3Y*: 12.71%
• 5Y*: 3.94%
• 10Y*: 7.52%

JEPI

• 1D: 0.14%
• 1M: -1.54%
• YTD: 0.15%
• 6M: 0.47%
• 1Y: 7.70%
• 3Y*: 8.88%
• 5Y*: 7.26%
• 10Y*: —

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

ARI vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ARI Apollo Commercial Real Estate Finance, Inc.	15.23%	23.83%	-16.51%	24.46%	-7.12%	29.66%	52.90%
JEPI JPMorgan Equity Premium Income ETF	0.15%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.61%

Correlation

The correlation between ARI and JEPI is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (All Time) Calculated using the full available price history since May 22, 2020	0.48

The correlation between ARI and JEPI shifts across timeframes, from 0.41 (1 year) to 0.51 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

ARI vs. JEPI — Risk / Return Rank

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

ARI

ARI Risk / Return Rank: 73
ARI Sharpe Ratio Rank: 75
ARI Sortino Ratio Rank: 70
ARI Omega Ratio Rank: 67
ARI Calmar Ratio Rank: 76
ARI Martin Ratio Rank: 75

JEPI

JEPI Risk / Return Rank: 26
JEPI Sharpe Ratio Rank: 27
JEPI Sortino Ratio Rank: 26
JEPI Omega Ratio Rank: 26
JEPI Calmar Ratio Rank: 24
JEPI Martin Ratio Rank: 26

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.

ARI vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Apollo Commercial Real Estate Finance, Inc. (ARI) 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.

	ARI	JEPI	Difference
Sharpe ratio Return per unit of total volatility	1.17	0.99	+0.19
Sortino ratio Return per unit of downside risk	1.80	1.47	+0.33
Omega ratio Gain probability vs. loss probability	1.21	1.18	+0.02
Calmar ratio Return relative to maximum drawdown	2.21	1.16	+1.05
Martin ratio Return relative to average drawdown	4.99	3.73	+1.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ARI vs. JEPI - Sharpe Ratio Comparison

The current ARI Sharpe Ratio is 1.17, which is comparable to the JEPI Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of ARI 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.

Sharpe Ratios by Period

	ARI	JEPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.17	0.99	+0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.13	0.66	-0.53
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.17	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	1.01	-0.80

Drawdowns

ARI vs. JEPI - Drawdown Comparison

The maximum ARI drawdown since its inception was -77.39%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for ARI and JEPI.

Drawdown Indicators

	ARI	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-77.39%	-13.71%	-63.68%
Max Drawdown (1Y) Largest decline over 1 year	-10.04%	-6.68%	-3.36%
Max Drawdown (3Y) Largest decline over 3 years	-24.73%	-13.26%	-11.47%
Max Drawdown (5Y) Largest decline over 5 years	-41.62%	-13.71%	-27.91%
Max Drawdown (10Y) Largest decline over 10 years	-77.39%	—	—
Current Drawdown Current decline from peak	-2.94%	-4.83%	+1.89%
Average Drawdown Average peak-to-trough decline	-8.90%	-2.12%	-6.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.44%	2.07%	+2.37%

Volatility

ARI vs. JEPI - Volatility Comparison

Apollo Commercial Real Estate Finance, Inc. (ARI) has a higher volatility of 3.89% compared to JPMorgan Equity Premium Income ETF (JEPI) at 1.35%. This indicates that ARI'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

	ARI	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.89%	1.35%	+2.54%
Volatility (6M) Calculated over the trailing 6-month period	13.94%	6.07%	+7.87%
Volatility (1Y) Calculated over the trailing 1-year period	18.95%	7.85%	+11.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.79%	11.06%	+19.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.99%	10.80%	+33.19%

Dividends

ARI vs. JEPI - Dividend Comparison

ARI's dividend yield for the trailing twelve months is around 9.18%, more than JEPI's 8.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARI Apollo Commercial Real Estate Finance, Inc.	9.18%	10.33%	13.86%	11.93%	13.01%	10.64%	12.98%	10.06%	11.04%	9.97%	11.07%	10.33%
JEPI JPMorgan Equity Premium Income ETF	8.27%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ARI and JEPI in my portfolio?

ARI and JEPI have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARI or JEPI?

ARI has higher volatility (3.89%) compared to JEPI (1.35%). In terms of maximum drawdown, ARI dropped -77.39% vs JEPI's -13.71%.

Which has better risk-adjusted returns?

ARI currently has the higher Sharpe Ratio (1.17 vs 0.99), 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.