FFEB vs. JEPI

Last updated Jun 3, 2026

FFEB (FT Vest U.S. Equity Buffer ETF - February) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - FFEB is a Defined Outcome fund actively managed by FT Vest, while JEPI is a Dividend fund actively managed by JPMorgan. Both are actively managed. Over the past 5 years, FFEB returned 11.35%/yr vs 7.30%/yr for JEPI. A 0.77 correlation means they provide meaningful diversification when combined. FFEB charges 0.85%/yr vs 0.35%/yr for JEPI.

Performance

FFEB vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Buffer ETF - February (FFEB) 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, FFEB achieves a 7.97% return, which is significantly higher than JEPI's 0.01% return.

FFEB

• 1D: 0.02%
• 1M: 2.46%
• YTD: 7.97%
• 6M: 9.15%
• 1Y: 20.20%
• 3Y*: 16.47%
• 5Y*: 11.35%
• 10Y*: —

JEPI

• 1D: 0.02%
• 1M: -1.94%
• YTD: 0.01%
• 6M: 0.89%
• 1Y: 7.76%
• 3Y*: 8.83%
• 5Y*: 7.30%
• 10Y*: —

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

FFEB vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FFEB FT Vest U.S. Equity Buffer ETF - February	7.97%	13.76%	16.64%	19.95%	-7.51%	16.26%	16.35%
JEPI JPMorgan Equity Premium Income ETF	0.01%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.61%

Correlation

The correlation between FFEB and JEPI is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since May 22, 2020	0.77

The correlation between FFEB and JEPI shifts across timeframes, from 0.64 (1 year) to 0.77 (5 years), reflecting how their relationship changes across market environments.

FFEB vs. JEPI - Sectors Allocation Comparison

Sectors	FFEB	JEPI
Technology	36.2%	19.1%
Financial Services	11.9%	9.8%
Communication Services	10.9%	6.9%
Consumer Cyclical	10.1%	11.7%
Healthcare	8.4%	14.1%
Industrials	8.1%	13.8%
Consumer Defensive	4.9%	9.6%
Energy	3.5%	3.5%
Utilities	2.3%	6.2%
Real Estate	1.9%	3.5%
Basic Materials	1.8%	1.9%

Return for Risk

FFEB vs. JEPI — Risk / Return Rank

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

FFEB

FFEB Risk / Return Rank: 84
FFEB Sharpe Ratio Rank: 85
FFEB Sortino Ratio Rank: 89
FFEB Omega Ratio Rank: 89
FFEB Calmar Ratio Rank: 71
FFEB Martin Ratio Rank: 87

JEPI

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

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.

FFEB vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Buffer ETF - February (FFEB) 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.

	FFEB	JEPI	Difference
Sharpe ratio Return per unit of total volatility	2.85	0.99	+1.86
Sortino ratio Return per unit of downside risk	4.11	1.48	+2.63
Omega ratio Gain probability vs. loss probability	1.58	1.18	+0.39
Calmar ratio Return relative to maximum drawdown	3.58	1.18	+2.40
Martin ratio Return relative to average drawdown	19.10	3.87	+15.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FFEB vs. JEPI - Sharpe Ratio Comparison

The current FFEB Sharpe Ratio is 2.85, which is higher than the JEPI Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of FFEB 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.

Sharpe Ratios by Period

	FFEB	JEPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.85	0.99	+1.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.06	0.66	+0.39
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	1.01	-0.14

Drawdowns

FFEB vs. JEPI - Drawdown Comparison

The maximum FFEB drawdown since its inception was -22.81%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for FFEB and JEPI.

Drawdown Indicators

	FFEB	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-22.81%	-13.71%	-9.10%
Max Drawdown (1Y) Largest decline over 1 year	-5.73%	-6.68%	+0.95%
Max Drawdown (3Y) Largest decline over 3 years	-11.89%	-13.26%	+1.37%
Max Drawdown (5Y) Largest decline over 5 years	-13.85%	-13.71%	-0.14%
Current Drawdown Current decline from peak	0.00%	-4.96%	+4.96%
Average Drawdown Average peak-to-trough decline	-2.40%	-2.11%	-0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	2.04%	-0.96%

Volatility

FFEB vs. JEPI - Volatility Comparison

The current volatility for FT Vest U.S. Equity Buffer ETF - February (FFEB) is 1.24%, while JPMorgan Equity Premium Income ETF (JEPI) has a volatility of 1.34%. This indicates that FFEB 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.

Volatility by Period

	FFEB	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.24%	1.34%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	5.56%	6.10%	-0.54%
Volatility (1Y) Calculated over the trailing 1-year period	7.12%	7.85%	-0.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.81%	11.06%	-0.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.75%	10.80%	+2.95%

FFEB vs. JEPI - Expense Ratio Comparison

FFEB has a 0.85% expense ratio, which is higher than JEPI's 0.35% expense ratio.

Dividends

FFEB vs. JEPI - Dividend Comparison

FFEB has not paid dividends to shareholders, while JEPI's dividend yield for the trailing twelve months is around 8.28%.

Position	TTM	2025	2024	2023	2022	2021	2020
FFEB FT Vest U.S. Equity Buffer ETF - February	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JEPI JPMorgan Equity Premium Income ETF	8.28%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%

Frequently Asked Questions

Can I hold both FFEB and JEPI in my portfolio?

FFEB and JEPI have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFEB or JEPI?

JEPI has higher volatility (1.34%) compared to FFEB (1.24%). In terms of maximum drawdown, FFEB dropped -22.81% vs JEPI's -13.71%.

Which ETF is better, FFEB or JEPI?

On 5-year performance, FFEB leads with 11.35% vs 7.30% for JEPI. On fees, JEPI is cheaper at 0.35% per year. On volatility, FFEB has been the lower-risk option at 1.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFEB or JEPI?

Over the 5-year period, FFEB has performed better with a 11.35% return vs 7.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFEB or JEPI?

JEPI is cheaper with a 0.35% expense ratio, compared with 0.85% for FFEB.

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

JEPI has the higher dividend yield at 8.28%, compared with 0.00% for FFEB.

What is the main difference between FFEB and JEPI?

FFEB is categorized as Defined Outcome, while JEPI is Dividend. They also come from different issuers: FT Vest and JPMorgan. Their fees differ too: 0.85% for FFEB and 0.35% for JEPI.

Which has better risk-adjusted returns?

FFEB currently has the higher Sharpe Ratio (2.85 vs 0.99), 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.