DFCF vs. JEPI

Last updated Jun 13, 2026

DFCF (Dimensional Core Fixed Income ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - DFCF is a Intermediate Core Bond fund actively managed by Dimensional, while JEPI is a Dividend fund actively managed by JPMorgan. Both are actively managed. Over the past 3 years, DFCF returned 5.07%/yr vs 9.13%/yr for JEPI. At a 0.25 correlation, their price movements are largely independent. DFCF charges 0.17%/yr vs 0.35%/yr for JEPI.

Performance

DFCF vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Core Fixed Income ETF (DFCF) 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, DFCF achieves a 0.63% return, which is significantly lower than JEPI's 1.29% return.

DFCF

• 1D: -0.09%
• 1M: 0.39%
• YTD: 0.63%
• 6M: 1.08%
• 1Y: 5.09%
• 3Y*: 5.07%
• 5Y*: —
• 10Y*: —

JEPI

• 1D: 0.43%
• 1M: 0.90%
• YTD: 1.29%
• 6M: 1.18%
• 1Y: 7.58%
• 3Y*: 9.13%
• 5Y*: 7.45%
• 10Y*: —

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

DFCF vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DFCF Dimensional Core Fixed Income ETF	0.63%	7.89%	1.86%	6.94%	-14.48%	0.04%
JEPI JPMorgan Equity Premium Income ETF	1.29%	8.09%	12.57%	9.83%	-3.49%	3.31%

Correlation

The correlation between DFCF and JEPI is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (All Time) Calculated using the full available price history since Nov 16, 2021	0.25

The correlation between DFCF and JEPI shifts across timeframes, from 0.25 (all time) to 0.37 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

DFCF vs. JEPI — Risk / Return Rank

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

DFCF

DFCF Risk / Return Rank: 40
DFCF Sharpe Ratio Rank: 41
DFCF Sortino Ratio Rank: 42
DFCF Omega Ratio Rank: 38
DFCF Calmar Ratio Rank: 42
DFCF Martin Ratio Rank: 38

JEPI

JEPI Risk / Return Rank: 28
JEPI Sharpe Ratio Rank: 30
JEPI Sortino Ratio Rank: 29
JEPI Omega Ratio Rank: 28
JEPI Calmar Ratio Rank: 27
JEPI Martin Ratio Rank: 28

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.

DFCF vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Core Fixed Income ETF (DFCF) 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.

	DFCF	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	1.30	0.95	+0.35
Sortino ratio: Return per unit of downside risk	1.90	1.42	+0.48
Omega ratio: Gain probability vs. loss probability	1.23	1.17	+0.05
Calmar ratio: Return relative to maximum drawdown	1.83	1.14	+0.70
Martin ratio: Return relative to average drawdown	5.39	3.46	+1.93

DFCF vs. JEPI - Sharpe Ratio Comparison

The current DFCF Sharpe Ratio is 1.30, which is higher than the JEPI Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of DFCF 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

DFCF vs. JEPI - Drawdown Comparison

The maximum DFCF drawdown since its inception was -19.56%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for DFCF and JEPI.

Drawdown Indicators

	DFCF	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-19.56%	-13.71%	-5.85%
Max Drawdown (1Y) Largest decline over 1 year	-2.79%	-6.68%	+3.89%
Max Drawdown (3Y) Largest decline over 3 years	-5.05%	-13.26%	+8.21%
Max Drawdown (5Y) Largest decline over 5 years	—	-13.71%	—
Current Drawdown Current decline from peak	-1.20%	-3.75%	+2.55%
Average Drawdown Average peak-to-trough decline	-7.99%	-2.13%	-5.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	2.20%	-1.25%

Volatility

DFCF vs. JEPI - Volatility Comparison

The current volatility for Dimensional Core Fixed Income ETF (DFCF) is 1.44%, while JPMorgan Equity Premium Income ETF (JEPI) has a volatility of 2.05%. This indicates that DFCF experiences smaller price fluctuations and is considered to be less risky than JEPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFCF	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.44%	2.05%	-0.61%
Volatility (6M) Calculated over the trailing 6-month period	2.98%	6.23%	-3.25%
Volatility (1Y) Calculated over the trailing 1-year period	3.96%	8.02%	-4.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.45%	11.08%	-4.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.45%	10.79%	-4.34%

DFCF vs. JEPI - Expense Ratio Comparison

DFCF has a 0.17% expense ratio, which is lower than JEPI's 0.35% expense ratio.

Dividends

DFCF vs. JEPI - Dividend Comparison

DFCF's dividend yield for the trailing twelve months is around 4.30%, less than JEPI's 8.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
DFCF Dimensional Core Fixed Income ETF	4.30%	4.48%	4.61%	4.51%	3.27%	0.16%	0.00%
JEPI JPMorgan Equity Premium Income ETF	8.18%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%

Frequently Asked Questions

Can I hold both DFCF and JEPI in my portfolio?

DFCF and JEPI have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFCF or JEPI?

JEPI has higher volatility (2.05%) compared to DFCF (1.44%). In terms of maximum drawdown, DFCF dropped -19.56% vs JEPI's -13.71%.

Which ETF is better, DFCF or JEPI?

On 3-year performance, JEPI leads with 9.13% vs 5.07% for DFCF. On fees, DFCF is cheaper at 0.17% per year. On volatility, DFCF has been the lower-risk option at 1.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFCF or JEPI?

Over the 3-year period, JEPI has performed better with a 9.13% return vs 5.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFCF or JEPI?

DFCF is cheaper with a 0.17% expense ratio, compared with 0.35% for JEPI.

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

JEPI has the higher dividend yield at 8.18%, compared with 4.30% for DFCF.

What is the main difference between DFCF and JEPI?

DFCF is categorized as Intermediate Core Bond, while JEPI is Dividend. They also come from different issuers: Dimensional and JPMorgan. Their fees differ too: 0.17% for DFCF and 0.35% for JEPI.

Which has better risk-adjusted returns?

DFCF currently has the higher Sharpe Ratio (1.30 vs 0.95), 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.