JEPI.TO vs. FCMI.TO
JEPI.TO (JPMorgan US Equity Premium Income Active ETF) and FCMI.TO (Fidelity Canadian Monthly High Income ETF) are both exchange-traded funds - JEPI.TO is a Derivative Income fund actively managed by JPMorgan, while FCMI.TO is a Canada Equities fund actively managed by Fidelity. Both are actively managed. Over the past year, JEPI.TO returned 9.64% vs 19.66% for FCMI.TO. At a 0.16 correlation, their price movements are largely independent. JEPI.TO charges 0.35%/yr vs 0.50%/yr for FCMI.TO.
Performance
JEPI.TO vs. FCMI.TO - Performance Comparison
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Returns By Period
In the year-to-date period, JEPI.TO achieves a 5.15% return, which is significantly lower than FCMI.TO's 9.25% return.
JEPI.TO
- 1D
- -0.94%
- 1M
- 0.95%
- 6M
- 1.65%
- YTD
- 5.15%
- 1Y
- 9.64%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FCMI.TO
- 1D
- 0.00%
- 1M
- -0.44%
- 6M
- 6.69%
- YTD
- 9.25%
- 1Y
- 19.66%
- 3Y*
- 13.93%
- 5Y*
- 8.04%
- 10Y*
- —
JEPI.TO vs. FCMI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
JEPI.TO JPMorgan US Equity Premium Income Active ETF | 5.15% | 3.09% | 5.31% |
FCMI.TO Fidelity Canadian Monthly High Income ETF | 9.25% | 15.02% | 1.25% |
Correlation
The correlation between JEPI.TO and FCMI.TO is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2024 | 0.16 |
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Return for Risk
JEPI.TO vs. FCMI.TO — Risk / Return Rank
JEPI.TO
FCMI.TO
JEPI.TO vs. FCMI.TO - 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 Fidelity Canadian Monthly High Income ETF (FCMI.TO). 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 | FCMI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.05 | ||
| Sortino ratioReturn per unit of downside risk | -3.35 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.80 | -0.62 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 5.36 | -3.55 |
| Martin ratioReturn relative to average drawdown | 4.56 | 20.62 | -16.06 |
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Drawdowns
JEPI.TO vs. FCMI.TO - Drawdown Comparison
The maximum JEPI.TO drawdown since its inception was -14.36%, smaller than the maximum FCMI.TO drawdown of -63.80%. Use the drawdown chart below to compare losses from any high point for JEPI.TO and FCMI.TO.
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Drawdown Indicators
| JEPI.TO | FCMI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.36% | -63.80% | +49.44% |
Max Drawdown (1Y)Largest decline over 1 year | -5.32% | -3.62% | -1.70% |
Max Drawdown (3Y)Largest decline over 3 years | — | -6.63% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -10.00% | — |
Current DrawdownCurrent decline from peak | -1.82% | -18.96% | +17.14% |
Average DrawdownAverage peak-to-trough decline | -3.21% | -41.59% | +38.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | 0.94% | +1.18% |
Volatility
JEPI.TO vs. FCMI.TO - Volatility Comparison
JPMorgan US Equity Premium Income Active ETF (JEPI.TO) has a higher volatility of 2.36% compared to Fidelity Canadian Monthly High Income ETF (FCMI.TO) at 2.08%. This indicates that JEPI.TO's price experiences larger fluctuations and is considered to be riskier than FCMI.TO 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 | FCMI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.36% | 2.08% | +0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 7.39% | 4.99% | +2.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.88% | 6.39% | +3.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.58% | 7.80% | +4.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.58% | 22.19% | -9.61% |
JEPI.TO vs. FCMI.TO - Expense Ratio Comparison
JEPI.TO has a 0.35% expense ratio, which is lower than FCMI.TO's 0.50% expense ratio.
Dividends
JEPI.TO vs. FCMI.TO - Dividend Comparison
JEPI.TO's dividend yield for the trailing twelve months is around 7.36%, more than FCMI.TO's 3.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
FCMI.TO Fidelity Canadian Monthly High Income ETF | 3.28% | 3.38% | 3.63% | 4.09% | 3.73% | 2.76% | 6.22% |
JEPI.TO JPMorgan US Equity Premium Income Active ETF | 7.36% | 7.56% | 0.97% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JEPI.TO and FCMI.TO have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JEPI.TO is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JEPI.TO is cheaper with a 0.35% expense ratio, compared with 0.50% for FCMI.TO.
JEPI.TO is categorized as Derivative Income, while FCMI.TO is Canada Equities. They also come from different issuers: JPMorgan and Fidelity. Their fees differ too: 0.35% for JEPI.TO and 0.50% for FCMI.TO.
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