FYEE vs. JEPI

Last updated Jun 24, 2026

FYEE (Fidelity Yield Enhanced Equity ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - FYEE is a Derivative Income fund actively managed by Fidelity, while JEPI is a Dividend fund actively managed by JPMorgan. Both are actively managed. Over the past year, FYEE returned 21.06% vs 7.76% for JEPI. A 0.70 correlation means they provide meaningful diversification when combined. FYEE charges 0.28%/yr vs 0.35%/yr for JEPI.

Performance

FYEE vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Yield Enhanced Equity ETF (FYEE) 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, FYEE achieves a 5.23% return, which is significantly higher than JEPI's 0.91% return.

FYEE

• 1D: -1.18%
• 1M: -0.71%
• YTD: 5.23%
• 6M: 4.69%
• 1Y: 21.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPI

• 1D: -0.43%
• 1M: -0.19%
• YTD: 0.91%
• 6M: 0.64%
• 1Y: 7.76%
• 3Y*: 8.98%
• 5Y*: 7.31%
• 10Y*: —

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

FYEE vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FYEE Fidelity Yield Enhanced Equity ETF	5.23%	15.76%	13.66%
JEPI JPMorgan Equity Premium Income ETF	0.91%	8.09%	7.39%

Correlation

The correlation between FYEE 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 (All Time) Calculated using the full available price history since Apr 11, 2024	0.70

The correlation between FYEE and JEPI shifts across timeframes, from 0.60 (1 year) to 0.70 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FYEE vs. JEPI — Risk / Return Rank

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

FYEE

FYEE Risk / Return Rank: 68
FYEE Sharpe Ratio Rank: 66
FYEE Sortino Ratio Rank: 62
FYEE Omega Ratio Rank: 74
FYEE Calmar Ratio Rank: 61
FYEE Martin Ratio Rank: 77

JEPI

JEPI Risk / Return Rank: 27
JEPI Sharpe Ratio Rank: 28
JEPI Sortino Ratio Rank: 27
JEPI Omega Ratio Rank: 26
JEPI Calmar Ratio Rank: 25
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.

FYEE vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Yield Enhanced Equity ETF (FYEE) 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.

	FYEE	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	2.06	0.97	+1.09
Sortino ratio: Return per unit of downside risk	2.76	1.45	+1.30
Omega ratio: Gain probability vs. loss probability	1.41	1.18	+0.23
Calmar ratio: Return relative to maximum drawdown	2.86	1.17	+1.70
Martin ratio: Return relative to average drawdown	14.01	3.44	+10.57

FYEE vs. JEPI - Sharpe Ratio Comparison

The current FYEE Sharpe Ratio is 2.06, which is higher than the JEPI Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of FYEE 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

FYEE vs. JEPI - Drawdown Comparison

The maximum FYEE drawdown since its inception was -18.79%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for FYEE and JEPI.

Drawdown Indicators

	FYEE	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-18.79%	-13.71%	-5.08%
Max Drawdown (1Y) Largest decline over 1 year	-7.39%	-6.68%	-0.71%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.26%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.71%	—
Current Drawdown Current decline from peak	-1.97%	-4.11%	+2.14%
Average Drawdown Average peak-to-trough decline	-2.23%	-2.13%	-0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.51%	2.26%	-0.75%

Volatility

FYEE vs. JEPI - Volatility Comparison

Fidelity Yield Enhanced Equity ETF (FYEE) has a higher volatility of 4.15% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.38%. This indicates that FYEE'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

	FYEE	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.15%	2.38%	+1.77%
Volatility (6M) Calculated over the trailing 6-month period	8.14%	6.29%	+1.85%
Volatility (1Y) Calculated over the trailing 1-year period	10.30%	8.03%	+2.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.93%	11.08%	+2.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.93%	10.78%	+3.15%

FYEE vs. JEPI - Expense Ratio Comparison

FYEE has a 0.28% expense ratio, which is lower than JEPI's 0.35% expense ratio.

Dividends

FYEE vs. JEPI - Dividend Comparison

FYEE's dividend yield for the trailing twelve months is around 8.63%, more than JEPI's 8.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
FYEE Fidelity Yield Enhanced Equity ETF	8.63%	7.08%	5.45%	0.00%	0.00%	0.00%	0.00%
JEPI JPMorgan Equity Premium Income ETF	8.21%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%

Frequently Asked Questions

Can I hold both FYEE and JEPI in my portfolio?

FYEE 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, FYEE or JEPI?

FYEE has higher volatility (4.15%) compared to JEPI (2.38%). In terms of maximum drawdown, FYEE dropped -18.79% vs JEPI's -13.71%.

Which ETF is better, FYEE or JEPI?

On 1-year performance, FYEE leads with 21.06% vs 7.76% for JEPI. On fees, FYEE is cheaper at 0.28% per year. On volatility, JEPI has been the lower-risk option at 2.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FYEE or JEPI?

Over the 1-year period, FYEE has performed better with a 21.06% return vs 7.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FYEE or JEPI?

FYEE is cheaper with a 0.28% expense ratio, compared with 0.35% for JEPI.

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

FYEE has the higher dividend yield at 8.63%, compared with 8.21% for JEPI.

What is the main difference between FYEE and JEPI?

FYEE is categorized as Derivative Income, while JEPI is Dividend. They also come from different issuers: Fidelity and JPMorgan. Their fees differ too: 0.28% for FYEE and 0.35% for JEPI.

Which has better risk-adjusted returns?

FYEE currently has the higher Sharpe Ratio (2.06 vs 0.97), 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.