CHPY vs. JEPI

Last updated Jun 16, 2026

CHPY (YieldMax Semiconductor Portfolio Option Income ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - CHPY is a Derivative Income fund actively managed by YieldMax, while JEPI is a Dividend fund actively managed by JPMorgan. Both are actively managed. Over the past year, CHPY returned 148.83% vs 8.98% for JEPI. At a 0.42 correlation, their price movements are largely independent. CHPY charges 0.99%/yr vs 0.35%/yr for JEPI.

Performance

CHPY vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Semiconductor Portfolio Option Income ETF (CHPY) 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, CHPY achieves a 88.78% return, which is significantly higher than JEPI's 1.89% return.

CHPY

• 1D: 5.00%
• 1M: 22.07%
• YTD: 88.78%
• 6M: 92.44%
• 1Y: 148.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPI

• 1D: 0.59%
• 1M: 1.56%
• YTD: 1.89%
• 6M: 1.70%
• 1Y: 8.98%
• 3Y*: 9.19%
• 5Y*: 7.65%
• 10Y*: —

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

CHPY vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025
CHPY YieldMax Semiconductor Portfolio Option Income ETF	88.78%	56.76%
JEPI JPMorgan Equity Premium Income ETF	1.89%	7.13%

Correlation

The correlation between CHPY and JEPI is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025	0.42

Return for Risk

CHPY vs. JEPI — Risk / Return Rank

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

CHPY

CHPY Risk / Return Rank: 97
CHPY Sharpe Ratio Rank: 98
CHPY Sortino Ratio Rank: 95
CHPY Omega Ratio Rank: 96
CHPY Calmar Ratio Rank: 98
CHPY Martin Ratio Rank: 97

JEPI

JEPI Risk / Return Rank: 33
JEPI Sharpe Ratio Rank: 34
JEPI Sortino Ratio Rank: 34
JEPI Omega Ratio Rank: 33
JEPI Calmar Ratio Rank: 30
JEPI Martin Ratio Rank: 31

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.

CHPY vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Semiconductor Portfolio Option Income ETF (CHPY) 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.

	CHPY	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	4.83	1.13	+3.70
Sortino ratio: Return per unit of downside risk	4.95	1.68	+3.27
Omega ratio: Gain probability vs. loss probability	1.73	1.21	+0.52
Calmar ratio: Return relative to maximum drawdown	12.31	1.35	+10.96
Martin ratio: Return relative to average drawdown	43.93	4.09	+39.84

CHPY vs. JEPI - Sharpe Ratio Comparison

The current CHPY Sharpe Ratio is 4.83, which is higher than the JEPI Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of CHPY 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

CHPY vs. JEPI - Drawdown Comparison

The maximum CHPY drawdown since its inception was -12.19%, smaller than the maximum JEPI drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for CHPY and JEPI.

Drawdown Indicators

	CHPY	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-12.19%	-13.71%	+1.52%
Max Drawdown (1Y) Largest decline over 1 year	-12.17%	-6.68%	-5.49%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.26%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.71%	—
Current Drawdown Current decline from peak	0.00%	-3.18%	+3.18%
Average Drawdown Average peak-to-trough decline	-2.12%	-2.13%	+0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.40%	2.20%	+1.20%

Volatility

CHPY vs. JEPI - Volatility Comparison

YieldMax Semiconductor Portfolio Option Income ETF (CHPY) has a higher volatility of 17.55% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.12%. This indicates that CHPY'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

	CHPY	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.55%	2.12%	+15.43%
Volatility (6M) Calculated over the trailing 6-month period	26.62%	6.23%	+20.39%
Volatility (1Y) Calculated over the trailing 1-year period	31.06%	8.01%	+23.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.45%	11.08%	+24.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.45%	10.79%	+24.66%

CHPY vs. JEPI - Expense Ratio Comparison

CHPY has a 0.99% expense ratio, which is higher than JEPI's 0.35% expense ratio.

Dividends

CHPY vs. JEPI - Dividend Comparison

CHPY's dividend yield for the trailing twelve months is around 28.02%, more than JEPI's 8.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
CHPY YieldMax Semiconductor Portfolio Option Income ETF	28.02%	28.19%	0.00%	0.00%	0.00%	0.00%	0.00%
JEPI JPMorgan Equity Premium Income ETF	8.13%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%

Frequently Asked Questions

Can I hold both CHPY and JEPI in my portfolio?

CHPY and JEPI have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CHPY or JEPI?

CHPY has higher volatility (17.55%) compared to JEPI (2.12%). In terms of maximum drawdown, CHPY dropped -12.19% vs JEPI's -13.71%.

Which ETF is better, CHPY or JEPI?

On 1-year performance, CHPY leads with 148.83% vs 8.98% for JEPI. On fees, JEPI is cheaper at 0.35% per year. On volatility, JEPI has been the lower-risk option at 2.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CHPY or JEPI?

Over the 1-year period, CHPY has performed better with a 148.83% return vs 8.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CHPY or JEPI?

JEPI is cheaper with a 0.35% expense ratio, compared with 0.99% for CHPY.

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

CHPY has the higher dividend yield at 28.02%, compared with 8.13% for JEPI.

What is the main difference between CHPY and JEPI?

CHPY is categorized as Derivative Income, while JEPI is Dividend. They also come from different issuers: YieldMax and JPMorgan. Their fees differ too: 0.99% for CHPY and 0.35% for JEPI.

Which has better risk-adjusted returns?

CHPY currently has the higher Sharpe Ratio (4.83 vs 1.13), 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.