HDV vs. JEPI

Last updated Jun 5, 2026

HDV (iShares Core High Dividend ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both Dividend funds. HDV is passively managed, while JEPI is actively managed. Over the past 5 years, HDV returned 10.47%/yr vs 7.37%/yr for JEPI. A 0.72 correlation means they provide meaningful diversification when combined. HDV charges 0.08%/yr vs 0.35%/yr for JEPI.

Performance

HDV vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core High Dividend ETF (HDV) 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, HDV achieves a 13.48% return, which is significantly higher than JEPI's 0.69% return.

HDV

• 1D: 0.70%
• 1M: 0.51%
• YTD: 13.48%
• 6M: 13.49%
• 1Y: 22.15%
• 3Y*: 15.28%
• 5Y*: 10.47%
• 10Y*: 9.29%

JEPI

• 1D: 0.54%
• 1M: -0.71%
• YTD: 0.69%
• 6M: 1.05%
• 1Y: 8.25%
• 3Y*: 9.05%
• 5Y*: 7.37%
• 10Y*: —

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

HDV vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HDV iShares Core High Dividend ETF	13.48%	11.90%	14.16%	1.72%	7.05%	19.45%	11.63%
JEPI JPMorgan Equity Premium Income ETF	0.69%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.61%

Correlation

The correlation between HDV 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	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since May 22, 2020	0.72

The correlation between HDV and JEPI shifts across timeframes, from 0.60 (1 year) to 0.72 (5 years), reflecting how their relationship changes across market environments.

HDV vs. JEPI - Sectors Allocation Comparison

Sectors	HDV	JEPI
Consumer Defensive	24.1%	9.6%
Energy	22.3%	3.5%
Healthcare	16.5%	14.1%
Financial Services	11.1%	9.8%
Utilities	9.2%	6.2%
Technology	8.2%	19.1%
Consumer Cyclical	6.1%	11.7%
Industrials	1.4%	13.8%
Basic Materials	1.2%	1.9%
Communication Services	0.1%	6.9%
Real Estate	-	3.5%

Return for Risk

HDV vs. JEPI — Risk / Return Rank

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

HDV

HDV Risk / Return Rank: 73
HDV Sharpe Ratio Rank: 71
HDV Sortino Ratio Rank: 76
HDV Omega Ratio Rank: 67
HDV Calmar Ratio Rank: 82
HDV Martin Ratio Rank: 66

JEPI

JEPI Risk / Return Rank: 29
JEPI Sharpe Ratio Rank: 30
JEPI Sortino Ratio Rank: 30
JEPI Omega Ratio Rank: 30
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.

HDV vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core High Dividend ETF (HDV) 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.

	HDV	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	2.29	1.05	+1.24
Sortino ratio: Return per unit of downside risk	3.38	1.57	+1.81
Omega ratio: Gain probability vs. loss probability	1.39	1.19	+0.20
Calmar ratio: Return relative to maximum drawdown	4.30	1.24	+3.06
Martin ratio: Return relative to average drawdown	11.97	3.96	+8.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HDV vs. JEPI - Sharpe Ratio Comparison

The current HDV Sharpe Ratio is 2.29, which is higher than the JEPI Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of HDV 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

	HDV	JEPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.29	1.05	+1.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	0.67	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	1.02	-0.29

Drawdowns

HDV vs. JEPI - Drawdown Comparison

The maximum HDV drawdown since its inception was -37.04%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for HDV and JEPI.

Drawdown Indicators

	HDV	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-37.04%	-13.71%	-23.33%
Max Drawdown (1Y) Largest decline over 1 year	-5.18%	-6.68%	+1.50%
Max Drawdown (3Y) Largest decline over 3 years	-10.49%	-13.26%	+2.77%
Max Drawdown (5Y) Largest decline over 5 years	-15.42%	-13.71%	-1.71%
Max Drawdown (10Y) Largest decline over 10 years	-37.04%	—	—
Current Drawdown Current decline from peak	-1.86%	-4.31%	+2.45%
Average Drawdown Average peak-to-trough decline	-3.09%	-2.12%	-0.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	2.08%	-0.22%

Volatility

HDV vs. JEPI - Volatility Comparison

iShares Core High Dividend ETF (HDV) has a higher volatility of 3.23% compared to JPMorgan Equity Premium Income ETF (JEPI) at 1.46%. This indicates that HDV'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

	HDV	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.23%	1.46%	+1.77%
Volatility (6M) Calculated over the trailing 6-month period	7.54%	6.10%	+1.44%
Volatility (1Y) Calculated over the trailing 1-year period	9.75%	7.87%	+1.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.82%	11.06%	+1.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.73%	10.80%	+4.93%

HDV vs. JEPI - Expense Ratio Comparison

HDV has a 0.08% expense ratio, which is lower than JEPI's 0.35% expense ratio.

Dividends

HDV vs. JEPI - Dividend Comparison

HDV's dividend yield for the trailing twelve months is around 2.89%, less than JEPI's 8.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HDV iShares Core High Dividend ETF	2.89%	3.22%	3.67%	3.82%	3.56%	3.47%	4.07%	3.27%	3.67%	3.27%	3.28%	3.92%
JEPI JPMorgan Equity Premium Income ETF	8.23%	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 HDV and JEPI in my portfolio?

HDV 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, HDV or JEPI?

HDV has higher volatility (3.23%) compared to JEPI (1.46%). In terms of maximum drawdown, HDV dropped -37.04% vs JEPI's -13.71%.

Which ETF is better, HDV or JEPI?

On 5-year performance, HDV leads with 10.47% vs 7.37% for JEPI. On fees, HDV is cheaper at 0.08% per year. On volatility, JEPI has been the lower-risk option at 1.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HDV or JEPI?

Over the 5-year period, HDV has performed better with a 10.47% return vs 7.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HDV or JEPI?

HDV is cheaper with a 0.08% expense ratio, compared with 0.35% for JEPI.

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

JEPI has the higher dividend yield at 8.23%, compared with 2.89% for HDV.

What is the main difference between HDV and JEPI?

They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.08% for HDV and 0.35% for JEPI.

Which has better risk-adjusted returns?

HDV currently has the higher Sharpe Ratio (2.29 vs 1.05), 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.