BGSAX vs. JEPI

Last updated Jun 4, 2026

BGSAX (BlackRock Technology Opportunities Fund Investor A) and JEPI (JPMorgan Equity Premium Income ETF) are both funds - BGSAX is a Technology Equities fund managed by BlackRock, while JEPI is a Dividend fund actively managed by JPMorgan. Over the past 5 years, BGSAX returned 17.87%/yr vs 7.26%/yr for JEPI. A 0.51 correlation means they provide meaningful diversification when combined. BGSAX charges 1.20%/yr vs 0.35%/yr for JEPI.

Performance

BGSAX vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Technology Opportunities Fund Investor A (BGSAX) 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, BGSAX achieves a 43.98% return, which is significantly higher than JEPI's 0.15% return.

BGSAX

• 1D: 1.14%
• 1M: 21.26%
• YTD: 43.98%
• 6M: 42.19%
• 1Y: 68.64%
• 3Y*: 40.65%
• 5Y*: 17.87%
• 10Y*: 25.86%

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)

BGSAX vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BGSAX BlackRock Technology Opportunities Fund Investor A	43.98%	19.63%	40.56%	49.09%	-43.13%	8.19%	60.94%
JEPI JPMorgan Equity Premium Income ETF	0.15%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.61%

Correlation

The correlation between BGSAX and JEPI is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (All Time) Calculated using the full available price history since May 22, 2020	0.51

Over the past year, the correlation between BGSAX and JEPI has dropped to 0.28 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.

Return for Risk

BGSAX vs. JEPI — Risk / Return Rank

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

BGSAX

BGSAX Risk / Return Rank: 73
BGSAX Sharpe Ratio Rank: 87
BGSAX Sortino Ratio Rank: 69
BGSAX Omega Ratio Rank: 68
BGSAX Calmar Ratio Rank: 82
BGSAX Martin Ratio Rank: 57

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.

BGSAX vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Technology Opportunities Fund Investor A (BGSAX) 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.

	BGSAX	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	2.84	0.99	+1.86
Sortino ratio: Return per unit of downside risk	3.45	1.47	+1.98
Omega ratio: Gain probability vs. loss probability	1.46	1.18	+0.28
Calmar ratio: Return relative to maximum drawdown	3.80	1.16	+2.65
Martin ratio: Return relative to average drawdown	11.42	3.73	+7.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BGSAX vs. JEPI - Sharpe Ratio Comparison

The current BGSAX Sharpe Ratio is 2.84, which is higher than the JEPI Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of BGSAX 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

	BGSAX	JEPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.84	0.99	+1.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.66	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.00	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	1.01	-0.55

Drawdowns

BGSAX vs. JEPI - Drawdown Comparison

The maximum BGSAX drawdown since its inception was -73.75%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for BGSAX and JEPI.

Drawdown Indicators

	BGSAX	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-73.75%	-13.71%	-60.04%
Max Drawdown (1Y) Largest decline over 1 year	-18.49%	-6.68%	-11.81%
Max Drawdown (3Y) Largest decline over 3 years	-27.75%	-13.26%	-14.49%
Max Drawdown (5Y) Largest decline over 5 years	-49.22%	-13.71%	-35.51%
Max Drawdown (10Y) Largest decline over 10 years	-49.22%	—	—
Current Drawdown Current decline from peak	0.00%	-4.83%	+4.83%
Average Drawdown Average peak-to-trough decline	-26.37%	-2.12%	-24.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.15%	2.07%	+4.08%

Volatility

BGSAX vs. JEPI - Volatility Comparison

BlackRock Technology Opportunities Fund Investor A (BGSAX) has a higher volatility of 9.07% compared to JPMorgan Equity Premium Income ETF (JEPI) at 1.35%. This indicates that BGSAX'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

	BGSAX	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.07%	1.35%	+7.72%
Volatility (6M) Calculated over the trailing 6-month period	20.29%	6.07%	+14.22%
Volatility (1Y) Calculated over the trailing 1-year period	24.75%	7.85%	+16.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.76%	11.06%	+16.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.88%	10.80%	+15.08%

BGSAX vs. JEPI - Expense Ratio Comparison

BGSAX has a 1.20% expense ratio, which is higher than JEPI's 0.35% expense ratio.

Dividends

BGSAX vs. JEPI - Dividend Comparison

BGSAX's dividend yield for the trailing twelve months is around 9.41%, more than JEPI's 8.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BGSAX BlackRock Technology Opportunities Fund Investor A	9.41%	13.55%	8.68%	0.00%	0.00%	7.66%	4.86%	1.50%	1.24%	8.01%	1.17%
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%

Frequently Asked Questions

Can I hold both BGSAX and JEPI in my portfolio?

BGSAX and JEPI have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BGSAX or JEPI?

BGSAX has higher volatility (9.07%) compared to JEPI (1.35%). In terms of maximum drawdown, BGSAX dropped -73.75% vs JEPI's -13.71%.

Which has better risk-adjusted returns?

BGSAX currently has the higher Sharpe Ratio (2.84 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.