FLGV vs. JEPI

Last updated Jun 4, 2026

FLGV (Franklin Liberty U.S. Treasury Bond ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - FLGV is a Government Bonds fund actively managed by Franklin Templeton, while JEPI is a Dividend fund actively managed by JPMorgan. Both are actively managed. Over the past 5 years, FLGV returned -0.17%/yr vs 7.26%/yr for JEPI. At a 0.10 correlation, their price movements are largely independent. FLGV charges 0.09%/yr vs 0.35%/yr for JEPI.

Performance

FLGV vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Liberty U.S. Treasury Bond ETF (FLGV) 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, FLGV achieves a 0.06% return, which is significantly lower than JEPI's 0.15% return.

FLGV

• 1D: -0.17%
• 1M: 0.12%
• YTD: 0.06%
• 6M: -0.23%
• 1Y: 3.99%
• 3Y*: 2.91%
• 5Y*: -0.17%
• 10Y*: —

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)

FLGV vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FLGV Franklin Liberty U.S. Treasury Bond ETF	0.06%	6.22%	0.62%	4.18%	-11.53%	-2.39%	-0.27%
JEPI JPMorgan Equity Premium Income ETF	0.15%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.15%

Correlation

The correlation between FLGV and JEPI is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (All Time) Calculated using the full available price history since Jun 12, 2020	0.10

The correlation between FLGV and JEPI shifts across timeframes, from 0.10 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.

FLGV vs. JEPI - Sectors Allocation Comparison

Sectors	FLGV	JEPI
Communication Services	0.9%	6.9%
Basic Materials	-	1.9%
Consumer Cyclical	-	11.7%
Consumer Defensive	-	9.6%
Energy	-	3.5%
Financial Services	-	9.8%
Healthcare	-	14.1%
Industrials	-	13.8%
Real Estate	-	3.5%
Technology	-	19.1%
Utilities	-	6.2%

Return for Risk

FLGV vs. JEPI — Risk / Return Rank

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

FLGV

FLGV Risk / Return Rank: 29
FLGV Sharpe Ratio Rank: 30
FLGV Sortino Ratio Rank: 29
FLGV Omega Ratio Rank: 28
FLGV Calmar Ratio Rank: 29
FLGV Martin Ratio Rank: 29

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.

FLGV vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty U.S. Treasury Bond ETF (FLGV) 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.

	FLGV	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	1.07	0.99	+0.09
Sortino ratio: Return per unit of downside risk	1.63	1.47	+0.16
Omega ratio: Gain probability vs. loss probability	1.19	1.18	0.00
Calmar ratio: Return relative to maximum drawdown	1.42	1.16	+0.26
Martin ratio: Return relative to average drawdown	4.20	3.73	+0.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLGV vs. JEPI - Sharpe Ratio Comparison

The current FLGV Sharpe Ratio is 1.07, which is comparable to the JEPI Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of FLGV 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

	FLGV	JEPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.07	0.99	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.03	0.66	-0.69
Sharpe Ratio (All Time) Calculated using the full available price history	-0.13	1.01	-1.14

Drawdowns

FLGV vs. JEPI - Drawdown Comparison

The maximum FLGV drawdown since its inception was -17.63%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for FLGV and JEPI.

Drawdown Indicators

	FLGV	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-17.63%	-13.71%	-3.92%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	-6.68%	+3.86%
Max Drawdown (3Y) Largest decline over 3 years	-5.23%	-13.26%	+8.03%
Max Drawdown (5Y) Largest decline over 5 years	-15.26%	-13.71%	-1.55%
Current Drawdown Current decline from peak	-5.54%	-4.83%	-0.71%
Average Drawdown Average peak-to-trough decline	-8.73%	-2.12%	-6.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	2.07%	-1.12%

Volatility

FLGV vs. JEPI - Volatility Comparison

The current volatility for Franklin Liberty U.S. Treasury Bond ETF (FLGV) is 1.20%, while JPMorgan Equity Premium Income ETF (JEPI) has a volatility of 1.35%. This indicates that FLGV 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

	FLGV	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.20%	1.35%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	2.49%	6.07%	-3.58%
Volatility (1Y) Calculated over the trailing 1-year period	3.73%	7.85%	-4.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.43%	11.06%	-5.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.15%	10.80%	-5.65%

FLGV vs. JEPI - Expense Ratio Comparison

FLGV has a 0.09% expense ratio, which is lower than JEPI's 0.35% expense ratio.

Dividends

FLGV vs. JEPI - Dividend Comparison

FLGV's dividend yield for the trailing twelve months is around 4.15%, less than JEPI's 8.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
FLGV Franklin Liberty U.S. Treasury Bond ETF	4.15%	4.07%	4.13%	3.46%	2.21%	1.92%	0.97%
JEPI JPMorgan Equity Premium Income ETF	8.27%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%

Frequently Asked Questions

Can I hold both FLGV and JEPI in my portfolio?

FLGV and JEPI have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLGV or JEPI?

JEPI has higher volatility (1.35%) compared to FLGV (1.20%). In terms of maximum drawdown, FLGV dropped -17.63% vs JEPI's -13.71%.

Which ETF is better, FLGV or JEPI?

On 5-year performance, JEPI leads with 7.26% vs -0.17% for FLGV. On fees, FLGV is cheaper at 0.09% per year. On volatility, FLGV has been the lower-risk option at 1.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLGV or JEPI?

Over the 5-year period, JEPI has performed better with a 7.26% return vs -0.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLGV or JEPI?

FLGV is cheaper with a 0.09% expense ratio, compared with 0.35% for JEPI.

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

JEPI has the higher dividend yield at 8.27%, compared with 4.15% for FLGV.

What is the main difference between FLGV and JEPI?

FLGV is categorized as Government Bonds, while JEPI is Dividend. They also come from different issuers: Franklin Templeton and JPMorgan. Their fees differ too: 0.09% for FLGV and 0.35% for JEPI.

Which has better risk-adjusted returns?

FLGV currently has the higher Sharpe Ratio (1.07 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.