JEPAX vs. JEPIX
JEPAX (JPMorgan Equity Premium Income Fund Class A) and JEPIX (JPMorgan Equity Premium Income Fund Class I) are both Derivative Income funds from JPMorgan. Over the past 5 years, JEPAX returned 7.31%/yr vs 7.60%/yr for JEPIX. With a 0.99 correlation, they move nearly in lockstep. JEPAX charges 0.85%/yr vs 0.59%/yr for JEPIX.
Performance
JEPAX vs. JEPIX - 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 JEPIX's 0.97% return.
JEPAX
- 1D
- 0.14%
- 1M
- 0.32%
- YTD
- 0.86%
- 6M
- 1.07%
- 1Y
- 8.65%
- 3Y*
- 8.53%
- 5Y*
- 7.31%
- 10Y*
- —
JEPIX
- 1D
- 0.22%
- 1M
- 0.42%
- YTD
- 0.97%
- 6M
- 1.20%
- 1Y
- 9.00%
- 3Y*
- 8.83%
- 5Y*
- 7.60%
- 10Y*
- —
JEPAX vs. JEPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
JEPAX JPMorgan Equity Premium Income Fund Class A | 0.86% | 7.55% | 12.07% | 9.42% | -4.05% | 19.13% | 5.75% | 7.45% |
JEPIX JPMorgan Equity Premium Income Fund Class I | 0.97% | 7.82% | 12.43% | 9.68% | -3.81% | 19.36% | 6.02% | 8.68% |
Correlation
The correlation between JEPAX and JEPIX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2019 | 0.99 |
The correlation between JEPAX and JEPIX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
JEPAX vs. JEPIX — Risk / Return Rank
JEPAX
JEPIX
JEPAX vs. JEPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Premium Income Fund Class A (JEPAX) and JPMorgan Equity Premium Income Fund Class I (JEPIX). 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 | JEPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.20 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 1.21 | -0.04 |
| Martin ratioReturn relative to average drawdown | 3.53 | 3.68 | -0.15 |
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Drawdowns
JEPAX vs. JEPIX - Drawdown Comparison
The maximum JEPAX drawdown since its inception was -32.69%, roughly equal to the maximum JEPIX drawdown of -32.63%. Use the drawdown chart below to compare losses from any high point for JEPAX and JEPIX.
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Drawdown Indicators
| JEPAX | JEPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.69% | -32.63% | -0.06% |
Max Drawdown (1Y)Largest decline over 1 year | -7.41% | -7.41% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -13.43% | -13.42% | -0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -13.74% | -13.67% | -0.07% |
Current DrawdownCurrent decline from peak | -4.25% | -4.12% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -3.09% | -3.21% | +0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 2.43% | +0.03% |
Volatility
JEPAX vs. JEPIX - Volatility Comparison
JPMorgan Equity Premium Income Fund Class A (JEPAX) and JPMorgan Equity Premium Income Fund Class I (JEPIX) have volatilities of 2.47% and 2.47%, 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.
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Volatility by Period
| JEPAX | JEPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.47% | 2.47% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 7.03% | 6.96% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.76% | 8.71% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.50% | 11.48% | +0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.90% | 14.72% | +0.18% |
JEPAX vs. JEPIX - Expense Ratio Comparison
JEPAX has a 0.85% expense ratio, which is higher than JEPIX's 0.59% expense ratio.
Dividends
JEPAX vs. JEPIX - Dividend Comparison
JEPAX's dividend yield for the trailing twelve months is around 7.84%, less than JEPIX's 8.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
JEPAX JPMorgan Equity Premium Income Fund Class A | 7.84% | 7.88% | 6.95% | 8.19% | 11.98% | 5.96% | 11.35% | 5.61% |
JEPIX JPMorgan Equity Premium Income Fund Class I | 8.09% | 8.12% | 7.20% | 8.42% | 12.24% | 6.15% | 11.59% | 3.91% |
Frequently Asked Questions
With a correlation of 0.99, JEPAX and JEPIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
JEPIX has higher volatility (2.47%) compared to JEPAX (2.47%). In terms of maximum drawdown, JEPAX dropped -32.69% vs JEPIX's -32.63%.
JEPIX currently has the higher Sharpe Ratio (1.03 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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