JEPI vs. IEMG

Last updated Jun 9, 2026

JEPI (JPMorgan Equity Premium Income ETF) and IEMG (iShares Core MSCI Emerging Markets ETF) are both exchange-traded funds - JEPI is a Dividend fund actively managed by JPMorgan, while IEMG is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Investable Market Index (USD) (Net). JEPI is actively managed, while IEMG is passively managed. Over the past 5 years, JEPI returned 7.28%/yr vs 6.57%/yr for IEMG. At a 0.46 correlation, their price movements are largely independent. JEPI charges 0.35%/yr vs 0.09%/yr for IEMG.

Performance

JEPI vs. IEMG - 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 Emerging Markets ETF (IEMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JEPI achieves a 0.04% return, which is significantly lower than IEMG's 18.97% return.

JEPI

• 1D: -0.31%
• 1M: -0.40%
• YTD: 0.04%
• 6M: 0.91%
• 1Y: 7.03%
• 3Y*: 8.80%
• 5Y*: 7.28%
• 10Y*: —

IEMG

• 1D: 1.70%
• 1M: -3.66%
• YTD: 18.97%
• 6M: 20.80%
• 1Y: 40.80%
• 3Y*: 20.51%
• 5Y*: 6.57%
• 10Y*: 9.88%

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

JEPI vs. IEMG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
JEPI JPMorgan Equity Premium Income ETF	0.04%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.39%
IEMG iShares Core MSCI Emerging Markets ETF	18.97%	32.56%	6.50%	11.52%	-19.98%	-0.64%	41.34%

Correlation

The correlation between JEPI and IEMG is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.47
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	0.46

JEPI vs. IEMG - Sectors Allocation Comparison

Sectors	JEPI	IEMG
Technology	19.1%	35.0%
Healthcare	14.1%	3.7%
Industrials	13.8%	9.0%
Consumer Cyclical	11.7%	9.5%
Financial Services	9.8%	18.4%
Consumer Defensive	9.6%	3.3%
Communication Services	6.9%	6.4%
Utilities	6.2%	2.2%
Real Estate	3.5%	1.7%
Energy	3.5%	3.8%
Basic Materials	1.9%	6.9%

Return for Risk

JEPI vs. IEMG — 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: 27
JEPI Omega Ratio Rank: 27
JEPI Calmar Ratio Rank: 24
JEPI Martin Ratio Rank: 26

IEMG

IEMG Risk / Return Rank: 67
IEMG Sharpe Ratio Rank: 67
IEMG Sortino Ratio Rank: 61
IEMG Omega Ratio Rank: 71
IEMG Calmar Ratio Rank: 68
IEMG Martin Ratio Rank: 69

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. IEMG - 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 Emerging Markets ETF (IEMG). 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	IEMG	Difference
Sharpe ratio: Return per unit of total volatility	0.90	1.99	-1.10
Sortino ratio: Return per unit of downside risk	1.35	2.58	-1.23
Omega ratio: Gain probability vs. loss probability	1.17	1.38	-0.21
Calmar ratio: Return relative to maximum drawdown	1.06	3.10	-2.05
Martin ratio: Return relative to average drawdown	3.31	11.68	-8.37
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. IEMG - Sharpe Ratio Comparison

The current JEPI Sharpe Ratio is 0.90, which is lower than the IEMG Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of JEPI and IEMG, 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	IEMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.90	1.99	-1.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.35	+0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	0.33	+0.68

Drawdowns

JEPI vs. IEMG - Drawdown Comparison

The maximum JEPI drawdown since its inception was -13.71%, smaller than the maximum IEMG drawdown of -38.71%. Use the drawdown chart below to compare losses from any high point for JEPI and IEMG.

Drawdown Indicators

	JEPI	IEMG	Difference
Max Drawdown Largest peak-to-trough decline	-13.71%	-38.71%	+25.00%
Max Drawdown (1Y) Largest decline over 1 year	-6.68%	-13.21%	+6.53%
Max Drawdown (3Y) Largest decline over 3 years	-13.26%	-17.21%	+3.95%
Max Drawdown (5Y) Largest decline over 5 years	-13.71%	-35.75%	+22.04%
Max Drawdown (10Y) Largest decline over 10 years	—	-38.71%	—
Current Drawdown Current decline from peak	-4.93%	-7.00%	+2.07%
Average Drawdown Average peak-to-trough decline	-2.12%	-12.97%	+10.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	3.50%	-1.37%

Volatility

JEPI vs. IEMG - Volatility Comparison

The current volatility for JPMorgan Equity Premium Income ETF (JEPI) is 1.48%, while iShares Core MSCI Emerging Markets ETF (IEMG) has a volatility of 10.33%. This indicates that JEPI experiences smaller price fluctuations and is considered to be less risky than IEMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEPI	IEMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.48%	10.33%	-8.85%
Volatility (6M) Calculated over the trailing 6-month period	6.09%	18.35%	-12.26%
Volatility (1Y) Calculated over the trailing 1-year period	7.89%	20.62%	-12.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.06%	18.62%	-7.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.79%	20.14%	-9.35%

JEPI vs. IEMG - Expense Ratio Comparison

JEPI has a 0.35% expense ratio, which is higher than IEMG's 0.09% expense ratio.

Dividends

JEPI vs. IEMG - Dividend Comparison

JEPI's dividend yield for the trailing twelve months is around 8.28%, more than IEMG's 2.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEMG iShares Core MSCI Emerging Markets ETF	2.31%	2.75%	3.20%	2.89%	2.71%	3.06%	1.87%	3.15%	2.76%	2.35%	2.28%	2.53%
JEPI JPMorgan Equity Premium Income ETF	8.28%	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 IEMG in my portfolio?

JEPI and IEMG have a correlation of 0.41, 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 IEMG?

IEMG has higher volatility (10.33%) compared to JEPI (1.48%). In terms of maximum drawdown, JEPI dropped -13.71% vs IEMG's -38.71%.

Which ETF is better, JEPI or IEMG?

On 5-year performance, JEPI leads with 7.28% vs 6.57% for IEMG. On fees, IEMG is cheaper at 0.09% per year. On volatility, JEPI has been the lower-risk option at 1.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JEPI or IEMG?

Over the 5-year period, JEPI has performed better with a 7.28% return vs 6.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEPI or IEMG?

IEMG is cheaper with a 0.09% expense ratio, compared with 0.35% for JEPI.

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

JEPI has the higher dividend yield at 8.28%, compared with 2.31% for IEMG.

What is the main difference between JEPI and IEMG?

JEPI is categorized as Dividend, while IEMG is Emerging Markets Diversified. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.35% for JEPI and 0.09% for IEMG.

Which has better risk-adjusted returns?

IEMG currently has the higher Sharpe Ratio (1.99 vs 0.90), 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.