COMB vs. JEPI
COMB (GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - COMB is a Commodities fund actively managed by GraniteShares, while JEPI is a Dividend fund actively managed by JPMorgan. Both are actively managed. Over the past 5 years, COMB returned 10.03%/yr vs 7.51%/yr for JEPI. At a 0.17 correlation, their price movements are largely independent. COMB charges 0.25%/yr vs 0.35%/yr for JEPI.
Performance
COMB vs. JEPI - Performance Comparison
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Returns By Period
In the year-to-date period, COMB achieves a 16.61% return, which is significantly higher than JEPI's 1.34% return.
COMB
- 1D
- -0.50%
- 1M
- -8.62%
- YTD
- 16.61%
- 6M
- 16.39%
- 1Y
- 21.96%
- 3Y*
- 12.10%
- 5Y*
- 10.03%
- 10Y*
- —
JEPI
- 1D
- -0.05%
- 1M
- 0.23%
- YTD
- 1.34%
- 6M
- 1.18%
- 1Y
- 8.97%
- 3Y*
- 9.13%
- 5Y*
- 7.51%
- 10Y*
- —
COMB vs. JEPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
COMB GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF | 16.61% | 15.12% | 5.24% | -7.75% | 14.56% | 26.34% | 23.15% |
JEPI JPMorgan Equity Premium Income ETF | 1.34% | 8.09% | 12.57% | 9.83% | -3.49% | 21.52% | 18.39% |
Correlation
The correlation between COMB and JEPI is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since May 21, 2020 | 0.17 |
The correlation between COMB and JEPI shifts across timeframes, from -0.02 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
COMB vs. JEPI — Risk / Return Rank
COMB
JEPI
COMB vs. JEPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB) 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.
| COMB | JEPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.21 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 1.35 | +0.48 |
| Martin ratioReturn relative to average drawdown | 6.76 | 4.00 | +2.75 |
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Drawdowns
COMB vs. JEPI - Drawdown Comparison
The maximum COMB drawdown since its inception was -33.50%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for COMB and JEPI.
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Drawdown Indicators
| COMB | JEPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.50% | -13.71% | -19.79% |
Max Drawdown (1Y)Largest decline over 1 year | -12.04% | -6.68% | -5.36% |
Max Drawdown (3Y)Largest decline over 3 years | -12.04% | -13.26% | +1.22% |
Max Drawdown (5Y)Largest decline over 5 years | -26.63% | -13.71% | -12.92% |
Current DrawdownCurrent decline from peak | -12.04% | -3.69% | -8.35% |
Average DrawdownAverage peak-to-trough decline | -12.04% | -2.13% | -9.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.56% | 2.24% | +1.32% |
Volatility
COMB vs. JEPI - Volatility Comparison
GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB) has a higher volatility of 3.57% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.35%. This indicates that COMB'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.
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Volatility by Period
| COMB | JEPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.57% | 2.35% | +1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 15.19% | 6.28% | +8.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.31% | 8.04% | +9.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.68% | 11.08% | +5.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.13% | 10.79% | +4.34% |
COMB vs. JEPI - Expense Ratio Comparison
COMB has a 0.25% expense ratio, which is lower than JEPI's 0.35% expense ratio.
Dividends
COMB vs. JEPI - Dividend Comparison
COMB's dividend yield for the trailing twelve months is around 7.76%, less than JEPI's 8.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
COMB GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF | 7.76% | 9.05% | 2.48% | 6.57% | 30.85% | 15.83% | 0.07% | 1.48% | 0.97% | 0.20% |
JEPI JPMorgan Equity Premium Income ETF | 8.17% | 8.25% | 7.33% | 8.40% | 11.68% | 6.59% | 5.79% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
COMB and JEPI have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COMB has higher volatility (3.57%) compared to JEPI (2.35%). In terms of maximum drawdown, COMB dropped -33.50% vs JEPI's -13.71%.
On 5-year performance, COMB leads with 10.03% vs 7.51% for JEPI. On fees, COMB is cheaper at 0.25% 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.
Over the 5-year period, COMB has performed better with a 10.03% return vs 7.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COMB is cheaper with a 0.25% expense ratio, compared with 0.35% for JEPI.
JEPI has the higher dividend yield at 8.17%, compared with 7.76% for COMB.
COMB is categorized as Commodities, while JEPI is Dividend. They also come from different issuers: GraniteShares and JPMorgan. Their fees differ too: 0.25% for COMB and 0.35% for JEPI.
COMB currently has the higher Sharpe Ratio (1.28 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.
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