JEPI vs. EMB
JEPI (JPMorgan Equity Premium Income ETF) and EMB (iShares J.P. Morgan USD Emerging Markets Bond ETF) are both exchange-traded funds - JEPI is a Dividend fund actively managed by JPMorgan, while EMB is a Emerging Markets Bonds fund tracking the JPMorgan EMBI Global Core Index. JEPI is actively managed, while EMB is passively managed. Over the past 5 years, JEPI returned 7.45%/yr vs 1.79%/yr for EMB. At a 0.47 correlation, their price movements are largely independent. JEPI charges 0.35%/yr vs 0.39%/yr for EMB.
Performance
JEPI vs. EMB - Performance Comparison
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Returns By Period
In the year-to-date period, JEPI achieves a 1.29% return, which is significantly lower than EMB's 2.29% return.
JEPI
- 1D
- 0.43%
- 1M
- 0.90%
- YTD
- 1.29%
- 6M
- 1.18%
- 1Y
- 7.58%
- 3Y*
- 9.13%
- 5Y*
- 7.45%
- 10Y*
- —
EMB
- 1D
- 0.09%
- 1M
- 1.29%
- YTD
- 2.29%
- 6M
- 2.72%
- 1Y
- 10.83%
- 3Y*
- 9.63%
- 5Y*
- 1.79%
- 10Y*
- 3.39%
JEPI vs. EMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
JEPI JPMorgan Equity Premium Income ETF | 1.29% | 8.09% | 12.57% | 9.83% | -3.49% | 21.52% | 18.39% |
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 2.29% | 13.85% | 5.54% | 10.62% | -18.63% | -2.23% | 12.19% |
Correlation
The correlation between JEPI and EMB is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since May 21, 2020 | 0.47 |
The correlation between JEPI and EMB has been stable across timeframes, ranging from 0.47 to 0.51 - a consistent structural relationship.
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Return for Risk
JEPI vs. EMB — Risk / Return Rank
JEPI
EMB
JEPI vs. EMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Premium Income ETF (JEPI) and iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB). 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 | EMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.97 | ||
| Sortino ratioReturn per unit of downside risk | -1.39 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.37 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.14 | 2.41 | -1.27 |
| Martin ratioReturn relative to average drawdown | 3.46 | 10.28 | -6.82 |
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Drawdowns
JEPI vs. EMB - Drawdown Comparison
The maximum JEPI drawdown since its inception was -13.71%, smaller than the maximum EMB drawdown of -34.70%. Use the drawdown chart below to compare losses from any high point for JEPI and EMB.
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Drawdown Indicators
| JEPI | EMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.71% | -34.70% | +20.99% |
Max Drawdown (1Y)Largest decline over 1 year | -6.68% | -4.51% | -2.17% |
Max Drawdown (3Y)Largest decline over 3 years | -13.26% | -7.95% | -5.31% |
Max Drawdown (5Y)Largest decline over 5 years | -13.71% | -28.74% | +15.03% |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.74% | — |
Current DrawdownCurrent decline from peak | -3.75% | 0.00% | -3.75% |
Average DrawdownAverage peak-to-trough decline | -2.13% | -5.05% | +2.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 1.06% | +1.14% |
Volatility
JEPI vs. EMB - Volatility Comparison
JPMorgan Equity Premium Income ETF (JEPI) and iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) have volatilities of 2.05% and 2.02%, 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
| JEPI | EMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.05% | 2.02% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 6.23% | 4.66% | +1.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.02% | 5.67% | +2.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.08% | 9.76% | +1.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.79% | 9.96% | +0.83% |
JEPI vs. EMB - Expense Ratio Comparison
JEPI has a 0.35% expense ratio, which is lower than EMB's 0.39% expense ratio.
Dividends
JEPI vs. EMB - Dividend Comparison
JEPI's dividend yield for the trailing twelve months is around 8.18%, more than EMB's 5.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 5.03% | 4.98% | 5.46% | 4.74% | 5.04% | 3.89% | 3.88% | 4.51% | 5.64% | 4.54% | 4.83% | 4.84% |
JEPI JPMorgan Equity Premium Income ETF | 8.18% | 8.25% | 7.33% | 8.40% | 11.68% | 6.59% | 5.79% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JEPI and EMB have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JEPI has higher volatility (2.05%) compared to EMB (2.02%). In terms of maximum drawdown, JEPI dropped -13.71% vs EMB's -34.70%.
On 5-year performance, JEPI leads with 7.45% vs 1.79% for EMB. On fees, JEPI is cheaper at 0.35% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JEPI has performed better with a 7.45% return vs 1.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JEPI is cheaper with a 0.35% expense ratio, compared with 0.39% for EMB.
JEPI has the higher dividend yield at 8.18%, compared with 5.03% for EMB.
JEPI is categorized as Dividend, while EMB is Emerging Markets Bonds. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.35% for JEPI and 0.39% for EMB.
EMB currently has the higher Sharpe Ratio (1.92 vs 0.95), 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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