JEPI.TO vs. EMCL.NEO
JEPI.TO (JPMorgan US Equity Premium Income Active ETF) and EMCL.NEO (Global X Enhanced MSCI Emerging Markets Covered Call ETF) are both Derivative Income funds. Both are actively managed. Over the past year, JEPI.TO returned 11.69% vs 48.25% for EMCL.NEO. At a 0.37 correlation, their price movements are largely independent.
Performance
JEPI.TO vs. EMCL.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, JEPI.TO achieves a 4.73% return, which is significantly lower than EMCL.NEO's 28.01% return.
JEPI.TO
- 1D
- -0.31%
- 1M
- 3.23%
- YTD
- 4.73%
- 6M
- 4.55%
- 1Y
- 11.69%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EMCL.NEO
- 1D
- 0.84%
- 1M
- 3.55%
- YTD
- 28.01%
- 6M
- 29.37%
- 1Y
- 48.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
JEPI.TO vs. EMCL.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
JEPI.TO JPMorgan US Equity Premium Income Active ETF | 4.73% | 3.09% | 5.31% |
EMCL.NEO Global X Enhanced MSCI Emerging Markets Covered Call ETF | 28.01% | 20.46% | -1.49% |
Correlation
The correlation between JEPI.TO and EMCL.NEO is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2024 | 0.37 |
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Return for Risk
JEPI.TO vs. EMCL.NEO — Risk / Return Rank
JEPI.TO
EMCL.NEO
JEPI.TO vs. EMCL.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan US Equity Premium Income Active ETF (JEPI.TO) and Global X Enhanced MSCI Emerging Markets Covered Call ETF (EMCL.NEO). 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.
| JEPI.TO | EMCL.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -1.01 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.45 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 3.79 | -1.58 |
| Martin ratioReturn relative to average drawdown | 5.53 | 13.57 | -8.04 |
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Drawdowns
JEPI.TO vs. EMCL.NEO - Drawdown Comparison
The maximum JEPI.TO drawdown since its inception was -14.36%, smaller than the maximum EMCL.NEO drawdown of -19.73%. Use the drawdown chart below to compare losses from any high point for JEPI.TO and EMCL.NEO.
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Drawdown Indicators
| JEPI.TO | EMCL.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.36% | -19.73% | +5.37% |
Max Drawdown (1Y)Largest decline over 1 year | -5.32% | -13.12% | +7.80% |
Current DrawdownCurrent decline from peak | -0.55% | -3.84% | +3.29% |
Average DrawdownAverage peak-to-trough decline | -3.30% | -2.57% | -0.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | 3.62% | -1.50% |
Volatility
JEPI.TO vs. EMCL.NEO - Volatility Comparison
The current volatility for JPMorgan US Equity Premium Income Active ETF (JEPI.TO) is 2.43%, while Global X Enhanced MSCI Emerging Markets Covered Call ETF (EMCL.NEO) has a volatility of 12.62%. This indicates that JEPI.TO experiences smaller price fluctuations and is considered to be less risky than EMCL.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JEPI.TO | EMCL.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.43% | 12.62% | -10.19% |
Volatility (6M)Calculated over the trailing 6-month period | 7.29% | 20.77% | -13.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.99% | 22.46% | -12.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.70% | 23.00% | -10.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.70% | 23.00% | -10.30% |
Dividends
JEPI.TO vs. EMCL.NEO - Dividend Comparison
JEPI.TO's dividend yield for the trailing twelve months is around 7.65%, less than EMCL.NEO's 10.11% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
EMCL.NEO Global X Enhanced MSCI Emerging Markets Covered Call ETF | 10.11% | 9.86% | 3.10% |
JEPI.TO JPMorgan US Equity Premium Income Active ETF | 7.65% | 7.56% | 0.97% |
Frequently Asked Questions
JEPI.TO and EMCL.NEO have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: JPMorgan and Global X.
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