JEPAX vs. IVVW
JEPAX (JPMorgan Equity Premium Income Fund Class A) and IVVW (iShares S&P 500 BuyWrite ETF) are both Derivative Income funds. Over the past year, JEPAX returned 8.65% vs 19.41% for IVVW. A 0.65 correlation means they provide meaningful diversification when combined. JEPAX charges 0.85%/yr vs 0.25%/yr for IVVW.
Performance
JEPAX vs. IVVW - Performance Comparison
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Returns By Period
In the year-to-date period, JEPAX achieves a 0.86% return, which is significantly lower than IVVW's 5.32% return.
JEPAX
- 1D
- 0.14%
- 1M
- 0.32%
- YTD
- 0.86%
- 6M
- 1.07%
- 1Y
- 8.65%
- 3Y*
- 8.53%
- 5Y*
- 7.31%
- 10Y*
- —
IVVW
- 1D
- 0.02%
- 1M
- 1.42%
- YTD
- 5.32%
- 6M
- 5.55%
- 1Y
- 19.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
JEPAX vs. IVVW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
JEPAX JPMorgan Equity Premium Income Fund Class A | 0.86% | 7.55% | 6.85% |
IVVW iShares S&P 500 BuyWrite ETF | 5.32% | 11.71% | 12.76% |
Correlation
The correlation between JEPAX and IVVW 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 15, 2024 | 0.65 |
The correlation between JEPAX and IVVW shifts across timeframes, from 0.54 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
JEPAX vs. IVVW — Risk / Return Rank
JEPAX
IVVW
JEPAX vs. IVVW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Premium Income Fund Class A (JEPAX) and iShares S&P 500 BuyWrite ETF (IVVW). 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.
| JEPAX | IVVW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.46 | ||
| Sortino ratioReturn per unit of downside risk | -1.81 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.54 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 3.35 | -2.18 |
| Martin ratioReturn relative to average drawdown | 3.53 | 17.98 | -14.45 |
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Drawdowns
JEPAX vs. IVVW - Drawdown Comparison
The maximum JEPAX drawdown since its inception was -32.69%, which is greater than IVVW's maximum drawdown of -16.79%. Use the drawdown chart below to compare losses from any high point for JEPAX and IVVW.
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Drawdown Indicators
| JEPAX | IVVW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.69% | -16.79% | -15.90% |
Max Drawdown (1Y)Largest decline over 1 year | -7.41% | -5.81% | -1.60% |
Max Drawdown (3Y)Largest decline over 3 years | -13.43% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -13.74% | — | — |
Current DrawdownCurrent decline from peak | -4.25% | -0.13% | -4.12% |
Average DrawdownAverage peak-to-trough decline | -3.09% | -1.73% | -1.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 1.08% | +1.38% |
Volatility
JEPAX vs. IVVW - Volatility Comparison
The current volatility for JPMorgan Equity Premium Income Fund Class A (JEPAX) is 2.47%, while iShares S&P 500 BuyWrite ETF (IVVW) has a volatility of 3.18%. This indicates that JEPAX experiences smaller price fluctuations and is considered to be less risky than IVVW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JEPAX | IVVW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.47% | 3.18% | -0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 7.03% | 6.79% | +0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.76% | 7.96% | +0.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.50% | 12.68% | -1.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.90% | 12.68% | +2.22% |
JEPAX vs. IVVW - Expense Ratio Comparison
JEPAX has a 0.85% expense ratio, which is higher than IVVW's 0.25% expense ratio.
Dividends
JEPAX vs. IVVW - Dividend Comparison
JEPAX's dividend yield for the trailing twelve months is around 7.84%, less than IVVW's 19.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IVVW iShares S&P 500 BuyWrite ETF | 19.62% | 18.55% | 13.72% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JEPAX JPMorgan Equity Premium Income Fund Class A | 7.84% | 7.88% | 6.95% | 8.19% | 11.98% | 5.96% | 11.35% | 5.61% |
Frequently Asked Questions
JEPAX and IVVW 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.
IVVW has higher volatility (3.18%) compared to JEPAX (2.47%). In terms of maximum drawdown, JEPAX dropped -32.69% vs IVVW's -16.79%.
IVVW currently has the higher Sharpe Ratio (2.45 vs 0.99), 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.
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