FIATX vs. JEPI

Last updated Jun 4, 2026

FIATX (Fidelity Advisor International Capital Appreciation Fund Class M) and JEPI (JPMorgan Equity Premium Income ETF) are both funds - FIATX is a Foreign Large Cap Equities fund managed by Fidelity, while JEPI is a Dividend fund actively managed by JPMorgan. Over the past 5 years, FIATX returned 6.69%/yr vs 7.26%/yr for JEPI. A 0.66 correlation means they provide meaningful diversification when combined. FIATX charges 1.49%/yr vs 0.35%/yr for JEPI.

Performance

FIATX vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor International Capital Appreciation Fund Class M (FIATX) 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, FIATX achieves a 9.93% return, which is significantly higher than JEPI's 0.15% return.

FIATX

• 1D: 1.09%
• 1M: 5.80%
• YTD: 9.93%
• 6M: 12.33%
• 1Y: 13.24%
• 3Y*: 15.26%
• 5Y*: 6.69%
• 10Y*: 9.76%

JEPI

• 1D: 0.14%
• 1M: -1.54%
• YTD: 0.15%
• 6M: 0.47%
• 1Y: 7.70%
• 3Y*: 8.88%
• 5Y*: 7.26%
• 10Y*: —

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

FIATX vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FIATX Fidelity Advisor International Capital Appreciation Fund Class M	9.93%	18.07%	7.49%	27.01%	-26.94%	11.67%	33.87%
JEPI JPMorgan Equity Premium Income ETF	0.15%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.61%

Correlation

The correlation between FIATX and JEPI is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (All Time) Calculated using the full available price history since May 22, 2020	0.66

The correlation between FIATX and JEPI has been stable across timeframes, ranging from 0.60 to 0.68 - a consistent structural relationship.

FIATX vs. JEPI - Sectors Allocation Comparison

Sectors	FIATX	JEPI
Industrials	33.4%	13.8%
Financial Services	29.4%	9.8%
Technology	20.7%	19.1%
Basic Materials	6.6%	1.9%
Consumer Defensive	3.4%	9.6%
Consumer Cyclical	2.9%	11.7%
Utilities	2.2%	6.2%
Energy	1.5%	3.5%
Communication Services	1.5%	6.9%
Healthcare	1.5%	14.1%
Real Estate	-	3.5%

Return for Risk

FIATX vs. JEPI — Risk / Return Rank

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

FIATX

FIATX Risk / Return Rank: 10
FIATX Sharpe Ratio Rank: 9
FIATX Sortino Ratio Rank: 10
FIATX Omega Ratio Rank: 10
FIATX Calmar Ratio Rank: 9
FIATX Martin Ratio Rank: 11

JEPI

JEPI Risk / Return Rank: 26
JEPI Sharpe Ratio Rank: 27
JEPI Sortino Ratio Rank: 26
JEPI Omega Ratio Rank: 26
JEPI Calmar Ratio Rank: 24
JEPI Martin Ratio Rank: 26

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.

FIATX vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor International Capital Appreciation Fund Class M (FIATX) 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.

	FIATX	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	0.75	0.99	-0.23
Sortino ratio: Return per unit of downside risk	1.19	1.47	-0.28
Omega ratio: Gain probability vs. loss probability	1.15	1.18	-0.04
Calmar ratio: Return relative to maximum drawdown	0.89	1.16	-0.27
Martin ratio: Return relative to average drawdown	3.37	3.73	-0.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIATX vs. JEPI - Sharpe Ratio Comparison

The current FIATX Sharpe Ratio is 0.75, which is comparable to the JEPI Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of FIATX 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

	FIATX	JEPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.75	0.99	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.66	-0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	1.01	-0.65

Drawdowns

FIATX vs. JEPI - Drawdown Comparison

The maximum FIATX drawdown since its inception was -68.05%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for FIATX and JEPI.

Drawdown Indicators

	FIATX	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-68.05%	-13.71%	-54.34%
Max Drawdown (1Y) Largest decline over 1 year	-14.52%	-6.68%	-7.84%
Max Drawdown (3Y) Largest decline over 3 years	-16.30%	-13.26%	-3.04%
Max Drawdown (5Y) Largest decline over 5 years	-37.53%	-13.71%	-23.82%
Max Drawdown (10Y) Largest decline over 10 years	-37.53%	—	—
Current Drawdown Current decline from peak	0.00%	-4.83%	+4.83%
Average Drawdown Average peak-to-trough decline	-16.48%	-2.12%	-14.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.84%	2.07%	+1.77%

Volatility

FIATX vs. JEPI - Volatility Comparison

Fidelity Advisor International Capital Appreciation Fund Class M (FIATX) has a higher volatility of 6.60% compared to JPMorgan Equity Premium Income ETF (JEPI) at 1.35%. This indicates that FIATX's price experiences larger fluctuations and is considered to be riskier than JEPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIATX	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.60%	1.35%	+5.25%
Volatility (6M) Calculated over the trailing 6-month period	15.08%	6.07%	+9.01%
Volatility (1Y) Calculated over the trailing 1-year period	17.21%	7.85%	+9.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.82%	11.06%	+7.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.05%	10.80%	+7.25%

FIATX vs. JEPI - Expense Ratio Comparison

FIATX has a 1.49% expense ratio, which is higher than JEPI's 0.35% expense ratio.

Dividends

FIATX vs. JEPI - Dividend Comparison

FIATX's dividend yield for the trailing twelve months is around 5.15%, less than JEPI's 8.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FIATX Fidelity Advisor International Capital Appreciation Fund Class M	5.15%	5.66%	0.35%	0.00%	0.00%	3.67%	0.00%	0.20%
JEPI JPMorgan Equity Premium Income ETF	8.27%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%

Frequently Asked Questions

Can I hold both FIATX and JEPI in my portfolio?

FIATX and JEPI have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIATX or JEPI?

FIATX has higher volatility (6.60%) compared to JEPI (1.35%). In terms of maximum drawdown, FIATX dropped -68.05% vs JEPI's -13.71%.

Which has better risk-adjusted returns?

JEPI currently has the higher Sharpe Ratio (0.99 vs 0.75), 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.