JEPI vs. DWAT

Last updated Apr 1, 2026

Compare and contrast key facts about JPMorgan Equity Premium Income ETF (JEPI) and Arrow DWA Tactical ETF (DWAT).

JEPI and DWAT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JEPI is an actively managed fund by JPMorgan. It was launched on May 20, 2020. DWAT is an actively managed fund by Arrow Funds. It was launched on Oct 1, 2014.

Performance

JEPI vs. DWAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Premium Income ETF (JEPI) and Arrow DWA Tactical ETF (DWAT). The values are adjusted to include any dividend payments, if applicable.

JEPI vs. DWAT - Yearly Performance Comparison

	2026 (YTD)
JEPI JPMorgan Equity Premium Income ETF	-3.55%
DWAT Arrow DWA Tactical ETF	0.00%

Returns By Period

JEPI

• 1D: 1.85%
• 1M: -4.79%
• YTD: 0.20%
• 6M: 3.11%
• 1Y: 7.84%
• 3Y*: 9.57%
• 5Y*: 8.26%
• 10Y*: —

DWAT

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JEPI vs. DWAT - Expense Ratio Comparison

JEPI has a 0.35% expense ratio, which is lower than DWAT's 1.66% expense ratio.

DWAT

Arrow DWA Tactical ETF

JEPI

JPMorgan Equity Premium Income ETF

Return for Risk

JEPI vs. DWAT — Risk / Return Rank

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

JEPI

JEPI Risk / Return Rank: 39
JEPI Sharpe Ratio Rank: 35
JEPI Sortino Ratio Rank: 34
JEPI Omega Ratio Rank: 42
JEPI Calmar Ratio Rank: 37
JEPI Martin Ratio Rank: 47

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. DWAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Premium Income ETF (JEPI) and Arrow DWA Tactical ETF (DWAT). 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	DWAT	Difference
Sharpe ratio Return per unit of total volatility	0.60	—	—
Sortino ratio Return per unit of downside risk	0.93	—	—
Omega ratio Gain probability vs. loss probability	1.15	—	—
Calmar ratio Return relative to maximum drawdown	0.85	—	—
Martin ratio Return relative to average drawdown	4.15	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	JEPI	DWAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.60	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.03	—	—

Dividends

JEPI vs. DWAT - Dividend Comparison

JEPI's dividend yield for the trailing twelve months is around 8.40%, while DWAT has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020
JEPI JPMorgan Equity Premium Income ETF	7.68%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%
DWAT Arrow DWA Tactical ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

JEPI vs. DWAT - Drawdown Comparison

The maximum JEPI drawdown since its inception was -13.71%, which is greater than DWAT's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for JEPI and DWAT.

Drawdown Indicators

	JEPI	DWAT	Difference
Max Drawdown Largest peak-to-trough decline	-13.71%	0.00%	-13.71%
Max Drawdown (1Y) Largest decline over 1 year	-10.28%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-13.71%	—	—
Current Drawdown Current decline from peak	-4.79%	0.00%	-4.79%
Average Drawdown Average peak-to-trough decline	-2.07%	0.00%	-2.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	—	—

Volatility

Volatility by Period

	JEPI	DWAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.95%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.36%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.26%	0.00%	+13.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.06%	0.00%	+11.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.89%	0.00%	+10.89%