IVVW vs. JEPAX

Last updated Jun 3, 2026

IVVW (iShares S&P 500 BuyWrite ETF) and JEPAX (JPMorgan Equity Premium Income Fund Class A) are both Derivative Income funds. Over the past year, IVVW returned 20.54% vs 7.32% for JEPAX. A 0.65 correlation means they provide meaningful diversification when combined. IVVW charges 0.25%/yr vs 0.85%/yr for JEPAX.

Performance

IVVW vs. JEPAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P 500 BuyWrite ETF (IVVW) and JPMorgan Equity Premium Income Fund Class A (JEPAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVVW achieves a 4.87% return, which is significantly higher than JEPAX's -0.15% return.

IVVW

• 1D: -0.07%
• 1M: 1.80%
• YTD: 4.87%
• 6M: 6.74%
• 1Y: 20.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPAX

• 1D: -0.72%
• 1M: -2.02%
• YTD: -0.15%
• 6M: 0.68%
• 1Y: 7.32%
• 3Y*: 8.35%
• 5Y*: 6.87%
• 10Y*: —

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

IVVW vs. JEPAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IVVW iShares S&P 500 BuyWrite ETF	4.87%	11.71%	12.90%
JEPAX JPMorgan Equity Premium Income Fund Class A	-0.15%	7.55%	7.38%

Correlation

The correlation between IVVW and JEPAX is 0.54, 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	0.54
Correlation (All Time) Calculated using the full available price history since Mar 18, 2024	0.65

The correlation between IVVW and JEPAX shifts across timeframes, from 0.54 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IVVW vs. JEPAX — Risk / Return Rank

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

IVVW

IVVW Risk / Return Rank: 84
IVVW Sharpe Ratio Rank: 84
IVVW Sortino Ratio Rank: 85
IVVW Omega Ratio Rank: 92
IVVW Calmar Ratio Rank: 71
IVVW Martin Ratio Rank: 89

JEPAX

JEPAX Risk / Return Rank: 11
JEPAX Sharpe Ratio Rank: 10
JEPAX Sortino Ratio Rank: 11
JEPAX Omega Ratio Rank: 11
JEPAX Calmar Ratio Rank: 11
JEPAX Martin Ratio Rank: 12

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.

IVVW vs. JEPAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 BuyWrite ETF (IVVW) and JPMorgan Equity Premium Income Fund Class A (JEPAX). 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.

	IVVW	JEPAX	Difference
Sharpe ratio Return per unit of total volatility	2.79	0.86	+1.92
Sortino ratio Return per unit of downside risk	3.85	1.36	+2.49
Omega ratio Gain probability vs. loss probability	1.63	1.16	+0.46
Calmar ratio Return relative to maximum drawdown	3.60	1.16	+2.44
Martin ratio Return relative to average drawdown	19.89	3.85	+16.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IVVW vs. JEPAX - Sharpe Ratio Comparison

The current IVVW Sharpe Ratio is 2.79, which is higher than the JEPAX Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of IVVW and JEPAX, 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

	IVVW	JEPAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.79	0.86	+1.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.60	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	0.52	+0.55

Drawdowns

IVVW vs. JEPAX - Drawdown Comparison

The maximum IVVW drawdown since its inception was -16.79%, smaller than the maximum JEPAX drawdown of -32.69%. Use the drawdown chart below to compare losses from any high point for IVVW and JEPAX.

Drawdown Indicators

	IVVW	JEPAX	Difference
Max Drawdown Largest peak-to-trough decline	-16.79%	-32.69%	+15.90%
Max Drawdown (1Y) Largest decline over 1 year	-5.81%	-7.41%	+1.60%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.43%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.74%	—
Current Drawdown Current decline from peak	-0.07%	-5.22%	+5.15%
Average Drawdown Average peak-to-trough decline	-1.76%	-3.08%	+1.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.05%	2.23%	-1.18%

Volatility

IVVW vs. JEPAX - Volatility Comparison

The current volatility for iShares S&P 500 BuyWrite ETF (IVVW) is 1.14%, while JPMorgan Equity Premium Income Fund Class A (JEPAX) has a volatility of 1.60%. This indicates that IVVW experiences smaller price fluctuations and is considered to be less risky than JEPAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVVW	JEPAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.14%	1.60%	-0.46%
Volatility (6M) Calculated over the trailing 6-month period	6.07%	6.92%	-0.85%
Volatility (1Y) Calculated over the trailing 1-year period	7.40%	8.61%	-1.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.67%	11.48%	+1.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.67%	14.93%	-2.26%

IVVW vs. JEPAX - Expense Ratio Comparison

IVVW has a 0.25% expense ratio, which is lower than JEPAX's 0.85% expense ratio.

Dividends

IVVW vs. JEPAX - Dividend Comparison

IVVW's dividend yield for the trailing twelve months is around 21.40%, more than JEPAX's 7.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
IVVW iShares S&P 500 BuyWrite ETF	21.40%	18.55%	13.72%	0.00%	0.00%	0.00%	0.00%	0.00%
JEPAX JPMorgan Equity Premium Income Fund Class A	7.92%	7.88%	6.95%	8.19%	11.98%	5.96%	11.35%	5.61%

Frequently Asked Questions

Can I hold both IVVW and JEPAX in my portfolio?

IVVW and JEPAX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IVVW or JEPAX?

JEPAX has higher volatility (1.60%) compared to IVVW (1.14%). In terms of maximum drawdown, IVVW dropped -16.79% vs JEPAX's -32.69%.

Which has better risk-adjusted returns?

IVVW currently has the higher Sharpe Ratio (2.79 vs 0.86), 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.