HLIEX vs. JEPI

Last updated Apr 2, 2026

Compare and contrast key facts about JPMorgan Equity Income Fund (HLIEX) and JPMorgan Equity Premium Income ETF (JEPI).

HLIEX is managed by JPMorgan. It was launched on Jul 2, 1987. JEPI is an actively managed fund by JPMorgan. It was launched on May 20, 2020.

Performance

HLIEX vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Income Fund (HLIEX) and JPMorgan Equity Premium Income ETF (JEPI). The values are adjusted to include any dividend payments, if applicable.

HLIEX vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HLIEX JPMorgan Equity Income Fund	1.62%	14.67%	19.67%	4.79%	-1.88%	25.10%	25.19%
JEPI JPMorgan Equity Premium Income ETF	0.46%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.61%

Returns By Period

In the year-to-date period, HLIEX achieves a 1.62% return, which is significantly higher than JEPI's 0.46% return.

HLIEX

• 1D: 1.91%
• 1M: -4.61%
• YTD: 1.62%
• 6M: 4.26%
• 1Y: 13.54%
• 3Y*: 14.35%
• 5Y*: 10.23%
• 10Y*: 11.39%

JEPI

• 1D: 0.27%
• 1M: -4.29%
• YTD: 0.46%
• 6M: 3.19%
• 1Y: 8.06%
• 3Y*: 9.67%
• 5Y*: 8.32%
• 10Y*: —

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

HLIEX vs. JEPI - Expense Ratio Comparison

HLIEX has a 0.70% expense ratio, which is higher than JEPI's 0.35% expense ratio.

HLIEX

JPMorgan Equity Income Fund

JEPI

JPMorgan Equity Premium Income ETF

Return for Risk

HLIEX vs. JEPI — Risk / Return Rank

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

HLIEX

HLIEX Risk / Return Rank: 45
HLIEX Sharpe Ratio Rank: 40
HLIEX Sortino Ratio Rank: 38
HLIEX Omega Ratio Rank: 43
HLIEX Calmar Ratio Rank: 51
HLIEX Martin Ratio Rank: 55

JEPI

JEPI Risk / Return Rank: 34
JEPI Sharpe Ratio Rank: 31
JEPI Sortino Ratio Rank: 31
JEPI Omega Ratio Rank: 37
JEPI Calmar Ratio Rank: 31
JEPI Martin Ratio Rank: 40

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.

HLIEX vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Income Fund (HLIEX) 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.

	HLIEX	JEPI	Difference
Sharpe ratio Return per unit of total volatility	0.88	0.61	+0.27
Sortino ratio Return per unit of downside risk	1.29	0.95	+0.33
Omega ratio Gain probability vs. loss probability	1.20	1.16	+0.04
Calmar ratio Return relative to maximum drawdown	1.31	0.79	+0.51
Martin ratio Return relative to average drawdown	5.58	3.83	+1.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HLIEX vs. JEPI - Sharpe Ratio Comparison

The current HLIEX Sharpe Ratio is 0.88, which is higher than the JEPI Sharpe Ratio of 0.61. The chart below compares the historical Sharpe Ratios of HLIEX and JEPI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HLIEX	JEPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.88	0.61	+0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.76	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	1.04	-0.48

Correlation

The correlation between HLIEX and JEPI is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

HLIEX vs. JEPI - Dividend Comparison

HLIEX's dividend yield for the trailing twelve months is around 10.68%, more than JEPI's 8.46% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HLIEX JPMorgan Equity Income Fund	10.68%	10.81%	14.41%	2.77%	3.67%	3.33%	1.82%	2.78%	5.12%	2.47%	2.45%	2.73%
JEPI JPMorgan Equity Premium Income ETF	8.46%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

HLIEX vs. JEPI - Drawdown Comparison

The maximum HLIEX drawdown since its inception was -50.33%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for HLIEX and JEPI.

Drawdown Indicators

	HLIEX	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-50.33%	-13.71%	-36.62%
Max Drawdown (1Y) Largest decline over 1 year	-11.34%	-10.28%	-1.06%
Max Drawdown (5Y) Largest decline over 5 years	-14.85%	-13.71%	-1.14%
Max Drawdown (10Y) Largest decline over 10 years	-36.89%	—	—
Current Drawdown Current decline from peak	-5.30%	-4.53%	-0.77%
Average Drawdown Average peak-to-trough decline	-6.39%	-2.07%	-4.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	2.12%	+0.53%

Volatility

HLIEX vs. JEPI - Volatility Comparison

JPMorgan Equity Income Fund (HLIEX) and JPMorgan Equity Premium Income ETF (JEPI) have volatilities of 4.07% and 3.90%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HLIEX	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.07%	3.90%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	7.89%	6.36%	+1.53%
Volatility (1Y) Calculated over the trailing 1-year period	15.28%	13.24%	+2.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.30%	11.06%	+3.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.79%	10.88%	+5.91%