EMB vs. JEPI
EMB (iShares J.P. Morgan USD Emerging Markets Bond ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - EMB is a Emerging Markets Bonds fund tracking the J.P. Morgan EMBI Global Core Index, while JEPI is a Dividend fund actively managed by JPMorgan. EMB is passively managed, while JEPI is actively managed. Over the past 5 years, EMB returned 1.69%/yr vs 7.19%/yr for JEPI. At a 0.47 correlation, their price movements are largely independent. EMB charges 0.39%/yr vs 0.35%/yr for JEPI.
Performance
EMB vs. JEPI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EMB achieves a 1.66% return, which is significantly lower than JEPI's 2.63% return.
EMB
- 1D
- -0.17%
- 1M
- -1.00%
- 6M
- 1.73%
- YTD
- 1.66%
- 1Y
- 9.21%
- 3Y*
- 8.63%
- 5Y*
- 1.69%
- 10Y*
- 2.85%
- ALL TIME*
- 4.65%
JEPI
- 1D
- -0.28%
- 1M
- 1.21%
- 6M
- 0.57%
- YTD
- 2.63%
- 1Y
- 7.22%
- 3Y*
- 8.54%
- 5Y*
- 7.19%
- 10Y*
- —
- ALL TIME*
- 11.02%
EMB vs. JEPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 1.66% | 13.85% | 5.54% | 10.62% | -18.63% | -2.23% | 12.19% |
JEPI JPMorgan Equity Premium Income ETF | 2.63% | 8.09% | 12.57% | 9.83% | -3.49% | 21.52% | 18.39% |
Correlation
The correlation between EMB and JEPI is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since May 21, 2020 | 0.47 |
The correlation between EMB and JEPI has been stable across timeframes, ranging from 0.47 to 0.50 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EMB vs. JEPI — Risk / Return Rank
EMB
JEPI
EMB vs. JEPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) 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.
| EMB | JEPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.17 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | 1.09 | +0.97 |
| Martin ratioReturn relative to average drawdown | 8.72 | 3.07 | +5.65 |
Loading charts...
Drawdowns
EMB vs. JEPI - Drawdown Comparison
The maximum EMB drawdown since its inception was -34.70%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for EMB and JEPI.
Loading charts...
Drawdown Indicators
| EMB | JEPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.70% | -13.71% | -20.99% |
Max Drawdown (1Y)Largest decline over 1 year | -4.51% | -6.68% | +2.17% |
Max Drawdown (3Y)Largest decline over 3 years | -7.95% | -13.26% | +5.31% |
Max Drawdown (5Y)Largest decline over 5 years | -28.74% | -13.71% | -15.03% |
Max Drawdown (10Y)Largest decline over 10 years | -28.74% | — | — |
Current DrawdownCurrent decline from peak | -1.09% | -2.48% | +1.39% |
Average DrawdownAverage peak-to-trough decline | -5.03% | -2.13% | -2.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.06% | 2.36% | -1.30% |
Volatility
EMB vs. JEPI - Volatility Comparison
The current volatility for iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) is 1.26%, while JPMorgan Equity Premium Income ETF (JEPI) has a volatility of 1.87%. This indicates that EMB 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.
Loading charts...
Volatility by Period
| EMB | JEPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | 1.87% | -0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 4.76% | 6.39% | -1.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.61% | 8.05% | -2.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.76% | 11.09% | -1.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.95% | 10.75% | -0.80% |
EMB vs. JEPI - Expense Ratio Comparison
EMB has a 0.39% expense ratio, which is higher than JEPI's 0.35% expense ratio.
Dividends
EMB vs. JEPI - Dividend Comparison
EMB's dividend yield for the trailing twelve months is around 5.10%, less than JEPI's 8.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 5.10% | 4.98% | 5.46% | 4.74% | 5.04% | 3.89% | 3.88% | 4.51% | 5.64% | 4.54% | 4.83% | 4.84% |
JEPI JPMorgan Equity Premium Income ETF | 8.11% | 8.25% | 7.33% | 8.40% | 11.68% | 6.59% | 5.79% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMB and JEPI have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JEPI has higher volatility (1.87%) compared to EMB (1.26%). In terms of maximum drawdown, EMB dropped -34.70% vs JEPI's -13.71%.
On 5-year performance, JEPI leads with 7.19% vs 1.69% for EMB. On fees, JEPI is cheaper at 0.35% per year. On volatility, EMB has been the lower-risk option at 1.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JEPI has performed better with a 7.19% return vs 1.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JEPI is cheaper with a 0.35% expense ratio, compared with 0.39% for EMB.
JEPI has the higher dividend yield at 8.11%, compared with 5.10% for EMB.
EMB is categorized as Emerging Markets Bonds, while JEPI is Dividend. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.39% for EMB and 0.35% for JEPI.
EMB currently has the higher Sharpe Ratio (1.65 vs 0.90), 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.
Find the right allocation for EMB and JEPI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer