EPRF vs. JEPI
EPRF (Innovator S&P High Quality Preferred ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - EPRF is a Preferred Stock fund tracking the S&P U.S. High Quality Preferred Stock Index, while JEPI is a Dividend fund actively managed by JPMorgan. EPRF is passively managed, while JEPI is actively managed. Over the past 5 years, EPRF returned -2.10%/yr vs 7.40%/yr for JEPI. Their 0.46 correlation means their historical movements had little consistent relationship. EPRF charges 0.47%/yr vs 0.35%/yr for JEPI.
Performance
EPRF vs. JEPI - Performance Comparison
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Returns By Period
In the year-to-date period, EPRF achieves a -2.35% return, which is significantly lower than JEPI's 4.52% return.
EPRF
- 1D
- 0.11%
- 1M
- 0.38%
- 6M
- -3.64%
- YTD
- -2.35%
- 1Y
- -1.86%
- 3Y*
- 2.69%
- 5Y*
- -2.10%
- 10Y*
- —
- ALL TIME*
- 1.08%
JEPI
- 1D
- 0.33%
- 1M
- 1.27%
- 6M
- 2.16%
- YTD
- 4.52%
- 1Y
- 11.16%
- 3Y*
- 9.21%
- 5Y*
- 7.40%
- 10Y*
- —
- ALL TIME*
- 11.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $130.96K | $126.83K | $172.59K | |
| $260.98M | $260.42M | $297.70M |
EPRF vs. JEPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
EPRF Innovator S&P High Quality Preferred ETF | -2.35% | 2.69% | 3.46% | 9.43% | -20.68% | 1.37% | 10.04% |
JEPI JPMorgan Equity Premium Income ETF | 4.52% | 8.09% | 12.57% | 9.83% | -3.49% | 21.52% | 18.39% |
Correlation
The correlation between EPRF and JEPI is 0.47, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.47 |
Correlation (3Y) Balances recent behavior with more history. | 0.47 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.47 |
Correlation (All Time) Calculated using the full available price history since May 21, 2020 | 0.46 |
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Return for Risk
EPRF vs. JEPI — Risk / Return Rank
EPRF
JEPI
EPRF vs. JEPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator S&P High Quality Preferred ETF (EPRF) 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.
| EPRF | JEPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.52 | ||
| Sortino ratioReturn per unit of downside risk | -2.17 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.23 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.23 | 1.52 | -1.76 |
| Martin ratioReturn relative to average drawdown | -0.41 | 4.32 | -4.73 |
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Drawdowns
EPRF vs. JEPI - Drawdown Comparison
The maximum EPRF drawdown since its inception was -26.82%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for EPRF and JEPI.
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Drawdown Indicators
| EPRF | JEPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.82% | -13.71% | -13.11% |
Max Drawdown (1Y)Largest decline over 1 year | -8.59% | -6.68% | -1.91% |
Max Drawdown (3Y)Largest decline over 3 years | -12.29% | -13.26% | +0.97% |
Max Drawdown (5Y)Largest decline over 5 years | -25.23% | -13.71% | -11.52% |
Current DrawdownCurrent decline from peak | -11.03% | -0.68% | -10.35% |
Average DrawdownAverage peak-to-trough decline | -7.44% | -2.13% | -5.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.83% | 2.36% | +2.47% |
Volatility
EPRF vs. JEPI - Volatility Comparison
The current volatility for Innovator S&P High Quality Preferred ETF (EPRF) is 1.91%, while JPMorgan Equity Premium Income ETF (JEPI) has a volatility of 2.38%. This indicates that EPRF 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.
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Volatility by Period
| EPRF | JEPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.91% | 2.38% | -0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 5.51% | 6.37% | -0.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.44% | 8.15% | -0.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.85% | 11.10% | +0.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.39% | 10.73% | +2.66% |
EPRF vs. JEPI - Expense Ratio Comparison
EPRF has a 0.47% expense ratio, which is higher than JEPI's 0.35% expense ratio.
Dividends
EPRF vs. JEPI - Dividend Comparison
EPRF's dividend yield for the trailing twelve months is around 6.18%, less than JEPI's 7.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EPRF Innovator S&P High Quality Preferred ETF | 6.18% | 6.03% | 6.13% | 5.71% | 5.67% | 4.70% | 4.92% | 5.01% | 5.27% | 2.59% |
JEPI JPMorgan Equity Premium Income ETF | 7.34% | 8.25% | 7.33% | 8.40% | 11.68% | 6.59% | 5.79% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EPRF and JEPI have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JEPI has higher volatility (2.38%) compared to EPRF (1.91%). In terms of maximum drawdown, EPRF dropped -26.82% vs JEPI's -13.71%.
On 5-year performance, JEPI leads with 7.40% vs -2.10% for EPRF. On fees, JEPI is cheaper at 0.35% per year. On volatility, EPRF has been the lower-risk option at 1.91%. 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 7.40% return vs -2.10%. 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 0.47% for EPRF.
JEPI has the higher dividend yield at 7.34%, compared with 6.18% for EPRF.
EPRF is categorized as Preferred Stock, while JEPI is Dividend. They also come from different issuers: Innovator and JPMorgan. Their fees differ too: 0.47% for EPRF and 0.35% for JEPI.
JEPI currently has the higher Sharpe Ratio (1.25 vs -0.27), 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.
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