JEPI vs. FNDX

Last updated Jun 12, 2026

JEPI (JPMorgan Equity Premium Income ETF) and FNDX (Schwab Fundamental U.S. Large Company Index ETF) are both exchange-traded funds - JEPI is a Dividend fund actively managed by JPMorgan, while FNDX is a Large Cap Value Equities fund tracking the RAFI Fundamental High Liquidity US Large Index. JEPI is actively managed, while FNDX is passively managed. Over the past 5 years, JEPI returned 7.36%/yr vs 12.91%/yr for FNDX. Their correlation of 0.81 suggests significant overlap in exposure. JEPI charges 0.35%/yr vs 0.25%/yr for FNDX.

Performance

JEPI vs. FNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Premium Income ETF (JEPI) and Schwab Fundamental U.S. Large Company Index ETF (FNDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JEPI achieves a 0.86% return, which is significantly lower than FNDX's 14.46% return.

JEPI

• 1D: 0.92%
• 1M: 0.20%
• YTD: 0.86%
• 6M: 0.64%
• 1Y: 7.61%
• 3Y*: 9.04%
• 5Y*: 7.36%
• 10Y*: —

FNDX

• 1D: 1.47%
• 1M: 1.97%
• YTD: 14.46%
• 6M: 13.13%
• 1Y: 30.72%
• 3Y*: 20.21%
• 5Y*: 12.91%
• 10Y*: 14.32%

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

JEPI vs. FNDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
JEPI JPMorgan Equity Premium Income ETF	0.86%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.39%
FNDX Schwab Fundamental U.S. Large Company Index ETF	14.46%	16.94%	16.77%	18.23%	-6.92%	31.73%	29.90%

Correlation

The correlation between JEPI and FNDX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since May 21, 2020	0.81

The correlation between JEPI and FNDX has been stable across timeframes, ranging from 0.81 to 0.85 - a consistent structural relationship.

JEPI vs. FNDX - Sectors Allocation Comparison

Sectors	JEPI	FNDX
Technology	19.1%	19.1%
Healthcare	14.1%	12.0%
Industrials	13.8%	9.3%
Consumer Cyclical	11.7%	9.2%
Financial Services	9.8%	14.1%
Consumer Defensive	9.6%	7.4%
Communication Services	6.9%	10.1%
Utilities	6.2%	3.2%
Real Estate	3.5%	1.8%
Energy	3.5%	10.3%
Basic Materials	1.9%	3.7%

Return for Risk

JEPI vs. FNDX — Risk / Return Rank

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

JEPI

JEPI Risk / Return Rank: 30
JEPI Sharpe Ratio Rank: 32
JEPI Sortino Ratio Rank: 32
JEPI Omega Ratio Rank: 31
JEPI Calmar Ratio Rank: 28
JEPI Martin Ratio Rank: 30

FNDX

FNDX Risk / Return Rank: 93
FNDX Sharpe Ratio Rank: 94
FNDX Sortino Ratio Rank: 93
FNDX Omega Ratio Rank: 92
FNDX Calmar Ratio Rank: 92
FNDX Martin Ratio Rank: 92

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. FNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Premium Income ETF (JEPI) and Schwab Fundamental U.S. Large Company Index ETF (FNDX). 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	FNDX	Difference
Sharpe ratio: Return per unit of total volatility	0.95	2.96	-2.01
Sortino ratio: Return per unit of downside risk	1.43	4.11	-2.69
Omega ratio: Gain probability vs. loss probability	1.17	1.54	-0.37
Calmar ratio: Return relative to maximum drawdown	1.14	5.09	-3.94
Martin ratio: Return relative to average drawdown	3.49	19.73	-16.24

JEPI vs. FNDX - Sharpe Ratio Comparison

The current JEPI Sharpe Ratio is 0.95, which is lower than the FNDX Sharpe Ratio of 2.96. The chart below compares the historical Sharpe Ratios of JEPI and FNDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JEPI vs. FNDX - Drawdown Comparison

The maximum JEPI drawdown since its inception was -13.71%, smaller than the maximum FNDX drawdown of -37.72%. Use the drawdown chart below to compare losses from any high point for JEPI and FNDX.

Drawdown Indicators

	JEPI	FNDX	Difference
Max Drawdown Largest peak-to-trough decline	-13.71%	-37.72%	+24.01%
Max Drawdown (1Y) Largest decline over 1 year	-6.68%	-6.06%	-0.62%
Max Drawdown (3Y) Largest decline over 3 years	-13.26%	-16.30%	+3.04%
Max Drawdown (5Y) Largest decline over 5 years	-13.71%	-19.06%	+5.35%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.72%	—
Current Drawdown Current decline from peak	-4.16%	-0.77%	-3.39%
Average Drawdown Average peak-to-trough decline	-2.12%	-3.55%	+1.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.18%	1.56%	+0.62%

Volatility

JEPI vs. FNDX - Volatility Comparison

The current volatility for JPMorgan Equity Premium Income ETF (JEPI) is 2.03%, while Schwab Fundamental U.S. Large Company Index ETF (FNDX) has a volatility of 3.07%. This indicates that JEPI experiences smaller price fluctuations and is considered to be less risky than FNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEPI	FNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.03%	3.07%	-1.04%
Volatility (6M) Calculated over the trailing 6-month period	6.25%	7.63%	-1.38%
Volatility (1Y) Calculated over the trailing 1-year period	8.01%	10.42%	-2.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.08%	15.22%	-4.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.80%	17.51%	-6.71%

JEPI vs. FNDX - Expense Ratio Comparison

JEPI has a 0.35% expense ratio, which is higher than FNDX's 0.25% expense ratio.

Dividends

JEPI vs. FNDX - Dividend Comparison

JEPI's dividend yield for the trailing twelve months is around 8.21%, more than FNDX's 1.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDX Schwab Fundamental U.S. Large Company Index ETF	1.45%	1.63%	1.76%	1.82%	2.07%	1.64%	2.29%	2.23%	2.40%	1.86%	2.01%	2.01%
JEPI JPMorgan Equity Premium Income ETF	8.21%	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

Can I hold both JEPI and FNDX in my portfolio?

JEPI and FNDX have a correlation of 0.81, 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 FNDX?

FNDX has higher volatility (3.07%) compared to JEPI (2.03%). In terms of maximum drawdown, JEPI dropped -13.71% vs FNDX's -37.72%.

Which ETF is better, JEPI or FNDX?

On 5-year performance, FNDX leads with 12.91% vs 7.36% for JEPI. On fees, FNDX is cheaper at 0.25% per year. On volatility, JEPI has been the lower-risk option at 2.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JEPI or FNDX?

Over the 5-year period, FNDX has performed better with a 12.91% return vs 7.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEPI or FNDX?

FNDX is cheaper with a 0.25% expense ratio, compared with 0.35% for JEPI.

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

JEPI has the higher dividend yield at 8.21%, compared with 1.45% for FNDX.

What is the main difference between JEPI and FNDX?

JEPI is categorized as Dividend, while FNDX is Large Cap Value Equities. They also come from different issuers: JPMorgan and Charles Schwab. Their fees differ too: 0.35% for JEPI and 0.25% for FNDX.

Which has better risk-adjusted returns?

FNDX currently has the higher Sharpe Ratio (2.96 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.