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JEPI vs. IEFA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JEPI vs. IEFA

Last updated Jul 26, 2026
Documentation

JEPI (JPMorgan Equity Premium Income ETF) and IEFA (iShares Core MSCI EAFE ETF) are both exchange-traded funds - JEPI is a Dividend fund actively managed by JPMorgan, while IEFA is a Foreign Large Cap Equities fund tracking the MSCI EAFE IMI Index (Net). JEPI is actively managed, while IEFA is passively managed. Over the past 5 years, JEPI returned 7.17%/yr vs 8.55%/yr for IEFA. Their 0.65 correlation means they have sometimes moved together and sometimes differently. JEPI charges 0.35%/yr vs 0.07%/yr for IEFA.

Performance

JEPI vs. IEFA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Premium Income ETF (JEPI) and iShares Core MSCI EAFE ETF (IEFA). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, JEPI achieves a 3.37% return, which is significantly lower than IEFA's 9.45% return.

JEPI

1D
0.67%
1M
2.00%
6M
1.35%
YTD
3.37%
1Y
7.34%
3Y*
8.83%
5Y*
7.17%
10Y*
—
ALL TIME*
11.13%

IEFA

1D
0.61%
1M
0.32%
6M
4.92%
YTD
9.45%
1Y
17.75%
3Y*
15.52%
5Y*
8.55%
10Y*
9.38%
ALL TIME*
8.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IEFA

iShares Core MSCI EAFE ETF
$895.79M$960.37M$950.39M

JEPI

JPMorgan Equity Premium Income ETF
$256.82M$259.30M$303.30M

JEPI vs. IEFA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
JEPI
JPMorgan Equity Premium Income ETF		3.37%8.09%12.57%9.83%-3.49%21.52%18.39%
IEFA
iShares Core MSCI EAFE ETF		9.45%32.08%3.26%17.95%-15.24%11.63%30.19%

Correlation

The correlation between JEPI and IEFA is 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.63

Correlation (3Y)
Balances recent behavior with more history.

0.64

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.66

Correlation (All Time)
Calculated using the full available price history since May 21, 2020

0.65

The correlation between JEPI and IEFA has been stable across timeframes, ranging from 0.63 to 0.66 - a consistent structural relationship.

JEPI vs. IEFA - Sectors Allocation Comparison

Sectors
JEPI
IEFA

Technology

15.3%
12.1%

Healthcare

12.8%
10.0%

Industrials

10.7%
19.3%

Consumer Cyclical

10.0%
7.3%

Financial Services

9.1%
25.5%

Consumer Defensive

7.8%
6.5%

Communication Services

6.2%
3.4%

Utilities

4.8%
3.5%

Real Estate

2.6%
2.2%

Energy

2.5%
3.7%

Basic Materials

1.6%
6.2%

Technology

JEPI
15.3%
IEFA
12.1%

Healthcare

JEPI
12.8%
IEFA
10.0%

Industrials

JEPI
10.7%
IEFA
19.3%

Consumer Cyclical

JEPI
10.0%
IEFA
7.3%

Financial Services

JEPI
9.1%
IEFA
25.5%

Consumer Defensive

JEPI
7.8%
IEFA
6.5%

Communication Services

JEPI
6.2%
IEFA
3.4%

Utilities

JEPI
4.8%
IEFA
3.5%

Real Estate

JEPI
2.6%
IEFA
2.2%

Energy

JEPI
2.5%
IEFA
3.7%

Basic Materials

JEPI
1.6%
IEFA
6.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

JPMorgan Equity Premium Income ETF

iShares Core MSCI EAFE ETF

Often compared with JEPI:
JEPI vs. JEPQJEPI vs. SCHDJEPI vs. SPYJEPI vs. QYLDJEPI vs. SPYIJEPI vs. QQQIJEPI vs. DIVO
Often compared with IEFA:
IEFA vs. VEAIEFA vs. VXUSIEFA vs. EFAIEFA vs. FSPSXIEFA vs. IEMGIEFA vs. XEF.TOIEFA vs. IXUS

Return for Risk

JEPI vs. IEFA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
JEPI
JEPI Risk / Return Rank: 3636
Overall Rank
JEPI Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
JEPI Sortino Ratio Rank: 3838
Sortino Ratio Rank
JEPI Omega Ratio Rank: 3737
Omega Ratio Rank
JEPI Calmar Ratio Rank: 3434
Calmar Ratio Rank
JEPI Martin Ratio Rank: 3434
Martin Ratio Rank
IEFA
IEFA Risk / Return Rank: 4747
Overall Rank
IEFA Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
IEFA Sortino Ratio Rank: 4747
Sortino Ratio Rank
IEFA Omega Ratio Rank: 4646
Omega Ratio Rank
IEFA Calmar Ratio Rank: 4343
Calmar Ratio Rank
IEFA Martin Ratio Rank: 5151
Martin Ratio Rank
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. IEFA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Premium Income ETF (JEPI) and iShares Core MSCI EAFE ETF (IEFA). 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.

JEPIIEFADifference
Sharpe ratioReturn per unit of total volatility
0.95
1.14

-0.19

Sortino ratioReturn per unit of downside risk
1.42
1.67

-0.25

Omega ratioGain probability vs. loss probability

1.18

1.21

-0.03

Calmar ratioReturn relative to maximum drawdown

1.15

1.54

-0.39

Martin ratioReturn relative to average drawdown

3.22

5.85

-2.62

JEPI vs. IEFA - Sharpe Ratio Comparison

The current JEPI Sharpe Ratio is 0.95, which is comparable to the IEFA Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of JEPI and IEFA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

JEPI vs. IEFA - Drawdown Comparison

The maximum JEPI drawdown since its inception was -13.71%, smaller than the maximum IEFA drawdown of -34.78%. Use the drawdown chart below to compare losses from any high point for JEPI and IEFA.

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Drawdown Indicators

JEPIIEFADifference

Max Drawdown

Largest peak-to-trough decline

-13.71%

-34.78%

+21.07%

Max Drawdown (1Y)

Largest decline over 1 year

-6.68%

-11.50%

+4.82%

Max Drawdown (3Y)

Largest decline over 3 years

-13.26%

-13.76%

+0.50%

Max Drawdown (5Y)

Largest decline over 5 years

-13.71%

-30.41%

+16.70%

Max Drawdown (10Y)

Largest decline over 10 years

—

-34.78%

—

Current Drawdown

Current decline from peak

-1.77%

-2.00%

+0.23%

Average Drawdown

Average peak-to-trough decline

-2.13%

-6.63%

+4.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.37%

3.02%

-0.65%

Volatility

JEPI vs. IEFA - Volatility Comparison

The current volatility for JPMorgan Equity Premium Income ETF (JEPI) is 1.95%, while iShares Core MSCI EAFE ETF (IEFA) has a volatility of 4.00%. This indicates that JEPI experiences smaller price fluctuations and is considered to be less risky than IEFA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

JEPIIEFADifference

Volatility (1M)

Calculated over the trailing 1-month period

1.95%

4.00%

-2.05%

Volatility (6M)

Calculated over the trailing 6-month period

6.22%

13.48%

-7.26%

Volatility (1Y)

Calculated over the trailing 1-year period

8.06%

15.55%

-7.49%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.09%

16.59%

-5.50%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.74%

17.02%

-6.28%

JEPI vs. IEFA - Expense Ratio Comparison

JEPI has a 0.35% expense ratio, which is higher than IEFA's 0.07% expense ratio.

Dividends

JEPI vs. IEFA - Dividend Comparison

JEPI's dividend yield for the trailing twelve months is around 8.05%, more than IEFA's 3.41% yield.

PositionTTM20252024202320222021202020192018201720162015
IEFA
iShares Core MSCI EAFE ETF		3.41%3.55%3.47%3.20%2.70%3.32%1.90%3.18%3.46%2.57%2.96%2.63%
JEPI
JPMorgan Equity Premium Income ETF		8.05%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 IEFA have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IEFA has higher volatility (4.00%) compared to JEPI (1.95%). In terms of maximum drawdown, JEPI dropped -13.71% vs IEFA's -34.78%.

On 5-year performance, IEFA leads with 8.55% vs 7.17% for JEPI. On fees, IEFA is cheaper at 0.07% per year. On volatility, JEPI has been the lower-risk option at 1.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, IEFA has performed better with a 8.55% return vs 7.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IEFA is cheaper with a 0.07% expense ratio, compared with 0.35% for JEPI.

JEPI has the higher dividend yield at 8.05%, compared with 3.41% for IEFA.

JEPI is categorized as Dividend, while IEFA is Foreign Large Cap Equities. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.35% for JEPI and 0.07% for IEFA.

IEFA currently has the higher Sharpe Ratio (1.14 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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