EMRSX vs. JEPAX

Last updated Jun 4, 2026

EMRSX (JPMorgan Emerging Markets Research Enhanced Equity Fund) and JEPAX (JPMorgan Equity Premium Income Fund Class A) are both mutual funds - EMRSX is a Emerging Markets Diversified fund managed by JPMorgan, while JEPAX is a Derivative Income fund managed by JPMorgan. Over the past 5 years, EMRSX returned 7.68%/yr vs 6.87%/yr for JEPAX. At a 0.43 correlation, their price movements are largely independent. EMRSX charges 0.35%/yr vs 0.85%/yr for JEPAX.

Performance

EMRSX vs. JEPAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Emerging Markets Research Enhanced Equity Fund (EMRSX) and JPMorgan Equity Premium Income Fund Class A (JEPAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMRSX achieves a 30.71% return, which is significantly higher than JEPAX's -0.08% return.

EMRSX

• 1D: 1.25%
• 1M: 10.11%
• YTD: 30.71%
• 6M: 33.94%
• 1Y: 60.40%
• 3Y*: 25.34%
• 5Y*: 7.68%
• 10Y*: —

JEPAX

• 1D: 0.07%
• 1M: -1.67%
• YTD: -0.08%
• 6M: 0.19%
• 1Y: 7.24%
• 3Y*: 8.38%
• 5Y*: 6.87%
• 10Y*: —

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

EMRSX vs. JEPAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
EMRSX JPMorgan Emerging Markets Research Enhanced Equity Fund	30.71%	35.27%	6.43%	8.91%	-21.42%	-3.38%	18.56%	10.57%
JEPAX JPMorgan Equity Premium Income Fund Class A	-0.08%	7.55%	12.07%	9.42%	-4.05%	19.13%	5.75%	7.45%

Correlation

The correlation between EMRSX and JEPAX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (All Time) Calculated using the full available price history since Mar 29, 2019	0.43

The correlation between EMRSX and JEPAX shifts across timeframes, from 0.29 (1 year) to 0.43 (all time), reflecting how their relationship changes across market environments.

Return for Risk

EMRSX vs. JEPAX — Risk / Return Rank

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

EMRSX

EMRSX Risk / Return Rank: 90
EMRSX Sharpe Ratio Rank: 95
EMRSX Sortino Ratio Rank: 88
EMRSX Omega Ratio Rank: 89
EMRSX Calmar Ratio Rank: 90
EMRSX Martin Ratio Rank: 90

JEPAX

JEPAX Risk / Return Rank: 11
JEPAX Sharpe Ratio Rank: 11
JEPAX Sortino Ratio Rank: 12
JEPAX Omega Ratio Rank: 11
JEPAX Calmar Ratio Rank: 10
JEPAX Martin Ratio Rank: 11

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.

EMRSX vs. JEPAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Emerging Markets Research Enhanced Equity Fund (EMRSX) and JPMorgan Equity Premium Income Fund Class A (JEPAX). 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.

	EMRSX	JEPAX	Difference
Sharpe ratio: Return per unit of total volatility	3.37	0.86	+2.50
Sortino ratio: Return per unit of downside risk	4.19	1.36	+2.83
Omega ratio: Gain probability vs. loss probability	1.63	1.16	+0.46
Calmar ratio: Return relative to maximum drawdown	4.59	1.00	+3.58
Martin ratio: Return relative to average drawdown	18.28	3.29	+14.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMRSX vs. JEPAX - Sharpe Ratio Comparison

The current EMRSX Sharpe Ratio is 3.37, which is higher than the JEPAX Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of EMRSX and JEPAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EMRSX	JEPAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.37	0.86	+2.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.60	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.52	+0.06

Drawdowns

EMRSX vs. JEPAX - Drawdown Comparison

The maximum EMRSX drawdown since its inception was -41.28%, which is greater than JEPAX's maximum drawdown of -32.69%. Use the drawdown chart below to compare losses from any high point for EMRSX and JEPAX.

Drawdown Indicators

	EMRSX	JEPAX	Difference
Max Drawdown Largest peak-to-trough decline	-41.28%	-32.69%	-8.59%
Max Drawdown (1Y) Largest decline over 1 year	-13.30%	-7.41%	-5.89%
Max Drawdown (3Y) Largest decline over 3 years	-15.42%	-13.43%	-1.99%
Max Drawdown (5Y) Largest decline over 5 years	-38.64%	-13.74%	-24.90%
Current Drawdown Current decline from peak	0.00%	-5.15%	+5.15%
Average Drawdown Average peak-to-trough decline	-15.29%	-3.08%	-12.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.33%	2.25%	+1.08%

Volatility

EMRSX vs. JEPAX - Volatility Comparison

JPMorgan Emerging Markets Research Enhanced Equity Fund (EMRSX) has a higher volatility of 7.89% compared to JPMorgan Equity Premium Income Fund Class A (JEPAX) at 1.51%. This indicates that EMRSX's price experiences larger fluctuations and is considered to be riskier than JEPAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMRSX	JEPAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.89%	1.51%	+6.38%
Volatility (6M) Calculated over the trailing 6-month period	15.57%	6.85%	+8.72%
Volatility (1Y) Calculated over the trailing 1-year period	18.12%	8.60%	+9.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.28%	11.48%	+5.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.23%	14.93%	+4.30%

EMRSX vs. JEPAX - Expense Ratio Comparison

EMRSX has a 0.35% expense ratio, which is lower than JEPAX's 0.85% expense ratio.

Dividends

EMRSX vs. JEPAX - Dividend Comparison

EMRSX's dividend yield for the trailing twelve months is around 2.81%, less than JEPAX's 7.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EMRSX JPMorgan Emerging Markets Research Enhanced Equity Fund	2.81%	3.68%	2.42%	3.08%	2.48%	5.59%	1.50%	0.94%	0.53%
JEPAX JPMorgan Equity Premium Income Fund Class A	7.91%	7.88%	6.95%	8.19%	11.98%	5.96%	11.35%	5.61%	0.00%

Frequently Asked Questions

Can I hold both EMRSX and JEPAX in my portfolio?

EMRSX and JEPAX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMRSX or JEPAX?

EMRSX has higher volatility (7.89%) compared to JEPAX (1.51%). In terms of maximum drawdown, EMRSX dropped -41.28% vs JEPAX's -32.69%.

Which has better risk-adjusted returns?

EMRSX currently has the higher Sharpe Ratio (3.37 vs 0.86), 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.