DIVO vs. JEPI

Last updated Jun 24, 2026

DIVO (Amplify CWP Enhanced Dividend Income ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - DIVO is a Derivative Income fund actively managed by Amplify, while JEPI is a Dividend fund actively managed by JPMorgan. Both are actively managed. Over the past 5 years, DIVO returned 10.94%/yr vs 7.31%/yr for JEPI. Their correlation of 0.84 suggests significant overlap in exposure. DIVO charges 0.56%/yr vs 0.35%/yr for JEPI.

Performance

DIVO vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify CWP Enhanced Dividend Income ETF (DIVO) 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, DIVO achieves a 5.40% return, which is significantly higher than JEPI's 0.91% return.

DIVO

• 1D: -0.04%
• 1M: -0.03%
• YTD: 5.40%
• 6M: 4.24%
• 1Y: 17.37%
• 3Y*: 15.15%
• 5Y*: 10.94%
• 10Y*: —

JEPI

• 1D: -0.43%
• 1M: -0.19%
• YTD: 0.91%
• 6M: 0.64%
• 1Y: 7.76%
• 3Y*: 8.98%
• 5Y*: 7.31%
• 10Y*: —

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

DIVO vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
DIVO Amplify CWP Enhanced Dividend Income ETF	5.40%	17.40%	16.22%	6.95%	-1.46%	22.87%	21.14%
JEPI JPMorgan Equity Premium Income ETF	0.91%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.39%

Correlation

The correlation between DIVO and JEPI is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since May 21, 2020	0.84

The correlation between DIVO and JEPI has been stable across timeframes, ranging from 0.78 to 0.86 - a consistent structural relationship.

DIVO vs. JEPI - Sectors Allocation Comparison

Sectors	DIVO	JEPI
Financial Services	30.3%	7.2%
Industrials	16.1%	9.7%
Technology	14.6%	15.3%
Consumer Cyclical	10.9%	10.0%
Consumer Defensive	7.4%	7.8%
Energy	7.0%	2.5%
Healthcare	6.8%	11.6%
Basic Materials	4.3%	1.7%
Utilities	1.9%	4.7%
Communication Services	1.0%	6.3%
Real Estate	-	2.7%

Return for Risk

DIVO vs. JEPI — Risk / Return Rank

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

DIVO

DIVO Risk / Return Rank: 60
DIVO Sharpe Ratio Rank: 59
DIVO Sortino Ratio Rank: 62
DIVO Omega Ratio Rank: 55
DIVO Calmar Ratio Rank: 61
DIVO Martin Ratio Rank: 61

JEPI

JEPI Risk / Return Rank: 27
JEPI Sharpe Ratio Rank: 28
JEPI Sortino Ratio Rank: 27
JEPI Omega Ratio Rank: 26
JEPI Calmar Ratio Rank: 25
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.

DIVO vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify CWP Enhanced Dividend Income ETF (DIVO) 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.

	DIVO	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	1.90	0.97	+0.93
Sortino ratio: Return per unit of downside risk	2.81	1.45	+1.36
Omega ratio: Gain probability vs. loss probability	1.33	1.18	+0.15
Calmar ratio: Return relative to maximum drawdown	2.93	1.17	+1.77
Martin ratio: Return relative to average drawdown	10.48	3.44	+7.04

DIVO vs. JEPI - Sharpe Ratio Comparison

The current DIVO Sharpe Ratio is 1.90, which is higher than the JEPI Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of DIVO 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

DIVO vs. JEPI - Drawdown Comparison

The maximum DIVO drawdown since its inception was -30.04%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for DIVO and JEPI.

Drawdown Indicators

	DIVO	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-30.04%	-13.71%	-16.33%
Max Drawdown (1Y) Largest decline over 1 year	-5.95%	-6.68%	+0.73%
Max Drawdown (3Y) Largest decline over 3 years	-12.12%	-13.26%	+1.14%
Max Drawdown (5Y) Largest decline over 5 years	-13.72%	-13.71%	-0.01%
Current Drawdown Current decline from peak	-1.61%	-4.11%	+2.50%
Average Drawdown Average peak-to-trough decline	-2.60%	-2.13%	-0.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.66%	2.26%	-0.60%

Volatility

DIVO vs. JEPI - Volatility Comparison

Amplify CWP Enhanced Dividend Income ETF (DIVO) has a higher volatility of 2.94% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.38%. This indicates that DIVO'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

	DIVO	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.94%	2.38%	+0.56%
Volatility (6M) Calculated over the trailing 6-month period	7.14%	6.29%	+0.85%
Volatility (1Y) Calculated over the trailing 1-year period	9.21%	8.03%	+1.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.95%	11.08%	+0.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.82%	10.78%	+4.04%

DIVO vs. JEPI - Expense Ratio Comparison

DIVO has a 0.56% expense ratio, which is higher than JEPI's 0.35% expense ratio.

Dividends

DIVO vs. JEPI - Dividend Comparison

DIVO's dividend yield for the trailing twelve months is around 6.43%, less than JEPI's 8.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIVO Amplify CWP Enhanced Dividend Income ETF	6.43%	6.44%	4.70%	4.67%	4.76%	4.79%	4.91%	8.16%	5.27%	3.83%
JEPI JPMorgan Equity Premium Income ETF	8.21%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DIVO and JEPI in my portfolio?

DIVO and JEPI have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIVO or JEPI?

DIVO has higher volatility (2.94%) compared to JEPI (2.38%). In terms of maximum drawdown, DIVO dropped -30.04% vs JEPI's -13.71%.

Which ETF is better, DIVO or JEPI?

On 5-year performance, DIVO leads with 10.94% vs 7.31% for JEPI. On fees, JEPI is cheaper at 0.35% per year. On volatility, JEPI has been the lower-risk option at 2.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIVO or JEPI?

Over the 5-year period, DIVO has performed better with a 10.94% return vs 7.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIVO or JEPI?

JEPI is cheaper with a 0.35% expense ratio, compared with 0.56% for DIVO.

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

JEPI has the higher dividend yield at 8.21%, compared with 6.43% for DIVO.

What is the main difference between DIVO and JEPI?

DIVO is categorized as Derivative Income, while JEPI is Dividend. They also come from different issuers: Amplify and JPMorgan. Their fees differ too: 0.56% for DIVO and 0.35% for JEPI.

Which has better risk-adjusted returns?

DIVO currently has the higher Sharpe Ratio (1.90 vs 0.97), 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.