FNDX vs. JEPI

Last updated Jun 12, 2026

FNDX (Schwab Fundamental U.S. Large Company Index ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - FNDX is a Large Cap Value Equities fund tracking the RAFI Fundamental High Liquidity US Large Index, while JEPI is a Dividend fund actively managed by JPMorgan. FNDX is passively managed, while JEPI is actively managed. Over the past 5 years, FNDX returned 12.91%/yr vs 7.36%/yr for JEPI. Their correlation of 0.81 suggests significant overlap in exposure. FNDX charges 0.25%/yr vs 0.35%/yr for JEPI.

Performance

FNDX vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental U.S. Large Company Index ETF (FNDX) 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, FNDX achieves a 14.46% return, which is significantly higher than JEPI's 0.86% return.

FNDX

• 1D: 1.47%
• 1M: 1.97%
• YTD: 14.46%
• 6M: 13.13%
• 1Y: 30.72%
• 3Y*: 20.21%
• 5Y*: 12.91%
• 10Y*: 14.32%

JEPI

• 1D: 0.92%
• 1M: 0.20%
• YTD: 0.86%
• 6M: 0.64%
• 1Y: 7.61%
• 3Y*: 9.04%
• 5Y*: 7.36%
• 10Y*: —

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

FNDX vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FNDX Schwab Fundamental U.S. Large Company Index ETF	14.46%	16.94%	16.77%	18.23%	-6.92%	31.73%	29.90%
JEPI JPMorgan Equity Premium Income ETF	0.86%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.39%

Correlation

The correlation between FNDX and JEPI is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since May 21, 2020	0.81

The correlation between FNDX and JEPI has been stable across timeframes, ranging from 0.81 to 0.85 - a consistent structural relationship.

FNDX vs. JEPI - Sectors Allocation Comparison

Sectors	FNDX	JEPI
Technology	19.1%	19.1%
Financial Services	14.1%	9.8%
Healthcare	12.0%	14.1%
Energy	10.3%	3.5%
Communication Services	10.1%	6.9%
Industrials	9.3%	13.8%
Consumer Cyclical	9.2%	11.7%
Consumer Defensive	7.4%	9.6%
Basic Materials	3.7%	1.9%
Utilities	3.2%	6.2%
Real Estate	1.8%	3.5%

Return for Risk

FNDX vs. JEPI — Risk / Return Rank

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

FNDX

FNDX Risk / Return Rank: 93
FNDX Sharpe Ratio Rank: 94
FNDX Sortino Ratio Rank: 93
FNDX Omega Ratio Rank: 92
FNDX Calmar Ratio Rank: 92
FNDX Martin Ratio Rank: 92

JEPI

JEPI Risk / Return Rank: 30
JEPI Sharpe Ratio Rank: 32
JEPI Sortino Ratio Rank: 32
JEPI Omega Ratio Rank: 31
JEPI Calmar Ratio Rank: 28
JEPI Martin Ratio Rank: 30

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.

FNDX vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental U.S. Large Company Index ETF (FNDX) 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.

	FNDX	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	2.96	0.95	+2.01
Sortino ratio: Return per unit of downside risk	4.11	1.43	+2.69
Omega ratio: Gain probability vs. loss probability	1.54	1.17	+0.37
Calmar ratio: Return relative to maximum drawdown	5.09	1.14	+3.94
Martin ratio: Return relative to average drawdown	19.73	3.49	+16.24

FNDX vs. JEPI - Sharpe Ratio Comparison

The current FNDX Sharpe Ratio is 2.96, which is higher than the JEPI Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of FNDX 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.

Drawdowns

FNDX vs. JEPI - Drawdown Comparison

The maximum FNDX drawdown since its inception was -37.72%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for FNDX and JEPI.

Drawdown Indicators

	FNDX	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-37.72%	-13.71%	-24.01%
Max Drawdown (1Y) Largest decline over 1 year	-6.06%	-6.68%	+0.62%
Max Drawdown (3Y) Largest decline over 3 years	-16.30%	-13.26%	-3.04%
Max Drawdown (5Y) Largest decline over 5 years	-19.06%	-13.71%	-5.35%
Max Drawdown (10Y) Largest decline over 10 years	-37.72%	—	—
Current Drawdown Current decline from peak	-0.77%	-4.16%	+3.39%
Average Drawdown Average peak-to-trough decline	-3.55%	-2.12%	-1.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.56%	2.18%	-0.62%

Volatility

FNDX vs. JEPI - Volatility Comparison

Schwab Fundamental U.S. Large Company Index ETF (FNDX) has a higher volatility of 3.07% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.03%. This indicates that FNDX'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

	FNDX	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.07%	2.03%	+1.04%
Volatility (6M) Calculated over the trailing 6-month period	7.63%	6.25%	+1.38%
Volatility (1Y) Calculated over the trailing 1-year period	10.42%	8.01%	+2.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.22%	11.08%	+4.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.51%	10.80%	+6.71%

FNDX vs. JEPI - Expense Ratio Comparison

FNDX has a 0.25% expense ratio, which is lower than JEPI's 0.35% expense ratio.

Dividends

FNDX vs. JEPI - Dividend Comparison

FNDX's dividend yield for the trailing twelve months is around 1.45%, less than JEPI's 8.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDX Schwab Fundamental U.S. Large Company Index ETF	1.45%	1.63%	1.76%	1.82%	2.07%	1.64%	2.29%	2.23%	2.40%	1.86%	2.01%	2.01%
JEPI JPMorgan Equity Premium Income ETF	8.21%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FNDX and JEPI in my portfolio?

FNDX and JEPI have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNDX or JEPI?

FNDX has higher volatility (3.07%) compared to JEPI (2.03%). In terms of maximum drawdown, FNDX dropped -37.72% vs JEPI's -13.71%.

Which ETF is better, FNDX or JEPI?

On 5-year performance, FNDX leads with 12.91% vs 7.36% for JEPI. On fees, FNDX is cheaper at 0.25% per year. On volatility, JEPI has been the lower-risk option at 2.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNDX or JEPI?

Over the 5-year period, FNDX has performed better with a 12.91% return vs 7.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNDX or JEPI?

FNDX is cheaper with a 0.25% expense ratio, compared with 0.35% for JEPI.

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

JEPI has the higher dividend yield at 8.21%, compared with 1.45% for FNDX.

What is the main difference between FNDX and JEPI?

FNDX is categorized as Large Cap Value Equities, while JEPI is Dividend. They also come from different issuers: Charles Schwab and JPMorgan. Their fees differ too: 0.25% for FNDX and 0.35% for JEPI.

Which has better risk-adjusted returns?

FNDX currently has the higher Sharpe Ratio (2.96 vs 0.95), 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.