JEPI vs. DFND

Last updated Jun 4, 2026

JEPI (JPMorgan Equity Premium Income ETF) and DFND (Siren DIVCON Dividend Defender ETF) are both exchange-traded funds - JEPI is a Dividend fund actively managed by JPMorgan, while DFND is a Large Cap Blend Equities fund tracking the Siren DIVCON Dividend Defender Index. JEPI is actively managed, while DFND is passively managed. Over the past 5 years, JEPI returned 7.26%/yr vs 4.54%/yr for DFND. At a 0.44 correlation, their price movements are largely independent. JEPI charges 0.35%/yr vs 1.50%/yr for DFND.

Performance

JEPI vs. DFND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Premium Income ETF (JEPI) and Siren DIVCON Dividend Defender ETF (DFND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

JEPI

• 1D: 0.14%
• 1M: -1.54%
• YTD: 0.15%
• 6M: 0.47%
• 1Y: 7.70%
• 3Y*: 8.88%
• 5Y*: 7.26%
• 10Y*: —

DFND

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: -1.09%
• 1Y: 0.20%
• 3Y*: 7.91%
• 5Y*: 4.54%
• 10Y*: 7.16%

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

JEPI vs. DFND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
JEPI JPMorgan Equity Premium Income ETF	0.15%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.61%
DFND Siren DIVCON Dividend Defender ETF	0.00%	10.37%	8.48%	12.13%	-19.59%	14.80%	8.96%

Correlation

The correlation between JEPI and DFND is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (All Time) Calculated using the full available price history since May 22, 2020	0.44

Over the past year, the correlation between JEPI and DFND has dropped to 0.09 - well below their long-term average of 0.44, suggesting their price drivers have been diverging.

JEPI vs. DFND - Sectors Allocation Comparison

Sectors	JEPI	DFND
Technology	19.1%	24.8%
Healthcare	14.1%	10.7%
Industrials	13.8%	17.1%
Consumer Cyclical	11.7%	3.5%
Financial Services	9.8%	18.2%
Consumer Defensive	9.6%	4.2%
Communication Services	6.9%	0.8%
Utilities	6.2%	-
Real Estate	3.5%	2.0%
Energy	3.5%	1.7%
Basic Materials	1.9%	4.3%

Return for Risk

JEPI vs. DFND — Risk / Return Rank

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

JEPI

JEPI Risk / Return Rank: 26
JEPI Sharpe Ratio Rank: 27
JEPI Sortino Ratio Rank: 26
JEPI Omega Ratio Rank: 26
JEPI Calmar Ratio Rank: 24
JEPI Martin Ratio Rank: 26

DFND

DFND Risk / Return Rank: 9
DFND Sharpe Ratio Rank: 9
DFND Sortino Ratio Rank: 8
DFND Omega Ratio Rank: 8
DFND Calmar Ratio Rank: 9
DFND Martin Ratio Rank: 9

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.

JEPI vs. DFND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Premium Income ETF (JEPI) and Siren DIVCON Dividend Defender ETF (DFND). 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.

	JEPI	DFND	Difference
Sharpe ratio: Return per unit of total volatility	0.99	0.02	+0.96
Sortino ratio: Return per unit of downside risk	1.47	0.11	+1.36
Omega ratio: Gain probability vs. loss probability	1.18	1.02	+0.17
Calmar ratio: Return relative to maximum drawdown	1.16	0.07	+1.09
Martin ratio: Return relative to average drawdown	3.73	0.13	+3.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JEPI vs. DFND - Sharpe Ratio Comparison

The current JEPI Sharpe Ratio is 0.99, which is higher than the DFND Sharpe Ratio of 0.02. The chart below compares the historical Sharpe Ratios of JEPI and DFND, 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

	JEPI	DFND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.99	0.02	+0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.21	+0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.38	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	0.36	+0.65

Drawdowns

JEPI vs. DFND - Drawdown Comparison

The maximum JEPI drawdown since its inception was -13.71%, smaller than the maximum DFND drawdown of -22.65%. Use the drawdown chart below to compare losses from any high point for JEPI and DFND.

Drawdown Indicators

	JEPI	DFND	Difference
Max Drawdown Largest peak-to-trough decline	-13.71%	-22.65%	+8.94%
Max Drawdown (1Y) Largest decline over 1 year	-6.68%	-3.44%	-3.24%
Max Drawdown (3Y) Largest decline over 3 years	-13.26%	-12.56%	-0.70%
Max Drawdown (5Y) Largest decline over 5 years	-13.71%	-22.65%	+8.94%
Max Drawdown (10Y) Largest decline over 10 years	—	-22.65%	—
Current Drawdown Current decline from peak	-4.83%	-3.69%	-1.14%
Average Drawdown Average peak-to-trough decline	-2.12%	-5.70%	+3.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	3.70%	-1.63%

Volatility

JEPI vs. DFND - Volatility Comparison

JPMorgan Equity Premium Income ETF (JEPI) has a higher volatility of 1.35% compared to Siren DIVCON Dividend Defender ETF (DFND) at 0.00%. This indicates that JEPI's price experiences larger fluctuations and is considered to be riskier than DFND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEPI	DFND	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	0.00%	+1.35%
Volatility (6M) Calculated over the trailing 6-month period	6.07%	6.16%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	7.85%	10.92%	-3.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.06%	22.46%	-11.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.80%	19.09%	-8.29%

JEPI vs. DFND - Expense Ratio Comparison

JEPI has a 0.35% expense ratio, which is lower than DFND's 1.50% expense ratio.

Dividends

JEPI vs. DFND - Dividend Comparison

JEPI's dividend yield for the trailing twelve months is around 8.27%, more than DFND's 0.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFND Siren DIVCON Dividend Defender ETF	0.62%	1.10%	1.64%	1.84%	0.29%	0.00%	0.00%	0.77%	0.53%	0.02%
JEPI JPMorgan Equity Premium Income ETF	8.27%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JEPI and DFND in my portfolio?

JEPI and DFND have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JEPI or DFND?

JEPI has higher volatility (1.35%) compared to DFND (0.00%). In terms of maximum drawdown, JEPI dropped -13.71% vs DFND's -22.65%.

Which ETF is better, JEPI or DFND?

On 5-year performance, JEPI leads with 7.26% vs 4.54% for DFND. On fees, JEPI is cheaper at 0.35% per year. On volatility, DFND has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JEPI or DFND?

Over the 5-year period, JEPI has performed better with a 7.26% return vs 4.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEPI or DFND?

JEPI is cheaper with a 0.35% expense ratio, compared with 1.50% for DFND.

Which ETF pays a higher dividend yield, JEPI or DFND?

JEPI has the higher dividend yield at 8.27%, compared with 0.62% for DFND.

What is the main difference between JEPI and DFND?

JEPI is categorized as Dividend, while DFND is Large Cap Blend Equities. They also come from different issuers: JPMorgan and SRN Advisors. Their fees differ too: 0.35% for JEPI and 1.50% for DFND.

Which has better risk-adjusted returns?

JEPI currently has the higher Sharpe Ratio (0.99 vs 0.02), 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.