DWAT vs. JEPI

Last updated Apr 1, 2026

Compare and contrast key facts about Arrow DWA Tactical ETF (DWAT) and JPMorgan Equity Premium Income ETF (JEPI).

DWAT and JEPI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DWAT is an actively managed fund by Arrow Funds. It was launched on Oct 1, 2014. JEPI is an actively managed fund by JPMorgan. It was launched on May 20, 2020.

Performance

DWAT vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Arrow DWA Tactical ETF (DWAT) and JPMorgan Equity Premium Income ETF (JEPI). The values are adjusted to include any dividend payments, if applicable.

DWAT vs. JEPI - Yearly Performance Comparison

	2026 (YTD)
DWAT Arrow DWA Tactical ETF	0.00%
JEPI JPMorgan Equity Premium Income ETF	-3.55%

Returns By Period

DWAT

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPI

• 1D: 1.85%
• 1M: -4.79%
• YTD: 0.20%
• 6M: 3.11%
• 1Y: 7.84%
• 3Y*: 9.57%
• 5Y*: 8.26%
• 10Y*: —

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

DWAT vs. JEPI - Expense Ratio Comparison

DWAT has a 1.66% expense ratio, which is higher than JEPI's 0.35% expense ratio.

DWAT

Arrow DWA Tactical ETF

JEPI

JPMorgan Equity Premium Income ETF

Return for Risk

DWAT vs. JEPI — Risk / Return Rank

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

JEPI

JEPI Risk / Return Rank: 39
JEPI Sharpe Ratio Rank: 35
JEPI Sortino Ratio Rank: 34
JEPI Omega Ratio Rank: 42
JEPI Calmar Ratio Rank: 37
JEPI Martin Ratio Rank: 47

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.

DWAT vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Arrow DWA Tactical ETF (DWAT) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	DWAT	JEPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.60	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.75	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	1.03	—

Dividends

DWAT vs. JEPI - Dividend Comparison

DWAT has not paid dividends to shareholders, while JEPI's dividend yield for the trailing twelve months is around 8.40%.

	TTM	2025	2024	2023	2022	2021	2020
DWAT Arrow DWA Tactical ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JEPI JPMorgan Equity Premium Income ETF	8.40%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%

Drawdowns

DWAT vs. JEPI - Drawdown Comparison

The maximum DWAT drawdown since its inception was 0.00%, smaller than the maximum JEPI drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for DWAT and JEPI.

Drawdown Indicators

	DWAT	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-13.71%	+13.71%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.28%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.71%	—
Current Drawdown Current decline from peak	0.00%	-4.79%	+4.79%
Average Drawdown Average peak-to-trough decline	0.00%	-2.07%	+2.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.10%	—

Volatility

Volatility by Period

	DWAT	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.95%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.36%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	13.26%	-13.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	11.06%	-11.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	10.89%	-10.89%