FRDM vs. JEPI

Last updated Jun 15, 2026

FRDM (Freedom 100 Emerging Markets ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - FRDM is a Emerging Markets Diversified fund tracking the Life + Liberty Freedom 100 Emerging Markets Index, while JEPI is a Dividend fund actively managed by JPMorgan. FRDM is passively managed, while JEPI is actively managed. Over the past 5 years, FRDM returned 18.68%/yr vs 7.45%/yr for JEPI. At a 0.49 correlation, their price movements are largely independent. FRDM charges 0.49%/yr vs 0.35%/yr for JEPI.

Performance

FRDM vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Freedom 100 Emerging Markets ETF (FRDM) 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, FRDM achieves a 40.13% return, which is significantly higher than JEPI's 1.29% return.

FRDM

• 1D: 0.49%
• 1M: 9.04%
• YTD: 40.13%
• 6M: 46.37%
• 1Y: 87.32%
• 3Y*: 34.29%
• 5Y*: 18.68%
• 10Y*: —

JEPI

• 1D: 0.43%
• 1M: 0.97%
• YTD: 1.29%
• 6M: 1.18%
• 1Y: 8.34%
• 3Y*: 9.13%
• 5Y*: 7.45%
• 10Y*: —

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

FRDM vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FRDM Freedom 100 Emerging Markets ETF	40.13%	61.27%	1.70%	22.77%	-14.45%	6.13%	49.20%
JEPI JPMorgan Equity Premium Income ETF	1.29%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.39%

Correlation

The correlation between FRDM and JEPI is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (All Time) Calculated using the full available price history since May 21, 2020	0.49

Return for Risk

FRDM vs. JEPI — Risk / Return Rank

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

FRDM

FRDM Risk / Return Rank: 92
FRDM Sharpe Ratio Rank: 94
FRDM Sortino Ratio Rank: 90
FRDM Omega Ratio Rank: 92
FRDM Calmar Ratio Rank: 91
FRDM Martin Ratio Rank: 91

JEPI

JEPI Risk / Return Rank: 28
JEPI Sharpe Ratio Rank: 30
JEPI Sortino Ratio Rank: 29
JEPI Omega Ratio Rank: 28
JEPI Calmar Ratio Rank: 27
JEPI Martin Ratio Rank: 28

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.

FRDM vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Freedom 100 Emerging Markets ETF (FRDM) 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.

	FRDM	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	3.15	0.95	+2.20
Sortino ratio: Return per unit of downside risk	3.68	1.42	+2.25
Omega ratio: Gain probability vs. loss probability	1.54	1.17	+0.37
Calmar ratio: Return relative to maximum drawdown	5.02	1.14	+3.88
Martin ratio: Return relative to average drawdown	19.36	3.46	+15.90

FRDM vs. JEPI - Sharpe Ratio Comparison

The current FRDM Sharpe Ratio is 3.15, which is higher than the JEPI Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of FRDM 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

FRDM vs. JEPI - Drawdown Comparison

The maximum FRDM drawdown since its inception was -40.49%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for FRDM and JEPI.

Drawdown Indicators

	FRDM	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-40.49%	-13.71%	-26.78%
Max Drawdown (1Y) Largest decline over 1 year	-16.87%	-6.68%	-10.19%
Max Drawdown (3Y) Largest decline over 3 years	-16.87%	-13.26%	-3.61%
Max Drawdown (5Y) Largest decline over 5 years	-29.25%	-13.71%	-15.54%
Current Drawdown Current decline from peak	-4.36%	-3.75%	-0.61%
Average Drawdown Average peak-to-trough decline	-7.09%	-2.13%	-4.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.37%	2.20%	+2.17%

Volatility

FRDM vs. JEPI - Volatility Comparison

Freedom 100 Emerging Markets ETF (FRDM) has a higher volatility of 14.27% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.05%. This indicates that FRDM'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

	FRDM	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.27%	2.05%	+12.22%
Volatility (6M) Calculated over the trailing 6-month period	24.39%	6.23%	+18.16%
Volatility (1Y) Calculated over the trailing 1-year period	26.86%	8.02%	+18.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.35%	11.08%	+10.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.09%	10.79%	+12.30%

FRDM vs. JEPI - Expense Ratio Comparison

FRDM has a 0.49% expense ratio, which is higher than JEPI's 0.35% expense ratio.

Dividends

FRDM vs. JEPI - Dividend Comparison

FRDM's dividend yield for the trailing twelve months is around 1.56%, less than JEPI's 8.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FRDM Freedom 100 Emerging Markets ETF	1.56%	2.26%	2.53%	2.66%	2.72%	2.17%	1.11%	1.07%
JEPI JPMorgan Equity Premium Income ETF	8.18%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%

Frequently Asked Questions

Can I hold both FRDM and JEPI in my portfolio?

FRDM and JEPI have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FRDM or JEPI?

FRDM has higher volatility (14.27%) compared to JEPI (2.05%). In terms of maximum drawdown, FRDM dropped -40.49% vs JEPI's -13.71%.

Which ETF is better, FRDM or JEPI?

On 5-year performance, FRDM leads with 18.68% vs 7.45% for JEPI. On fees, JEPI is cheaper at 0.35% per year. On volatility, JEPI has been the lower-risk option at 2.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FRDM or JEPI?

Over the 5-year period, FRDM has performed better with a 18.68% return vs 7.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FRDM or JEPI?

JEPI is cheaper with a 0.35% expense ratio, compared with 0.49% for FRDM.

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

JEPI has the higher dividend yield at 8.18%, compared with 1.56% for FRDM.

What is the main difference between FRDM and JEPI?

FRDM is categorized as Emerging Markets Diversified, while JEPI is Dividend. They also come from different issuers: Freedom Funds and JPMorgan. Their fees differ too: 0.49% for FRDM and 0.35% for JEPI.

Which has better risk-adjusted returns?

FRDM currently has the higher Sharpe Ratio (3.15 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.