JEPI vs. ITA

Last updated Jun 14, 2026

JEPI (JPMorgan Equity Premium Income ETF) and ITA (iShares U.S. Aerospace & Defense ETF) are both exchange-traded funds - JEPI is a Dividend fund actively managed by JPMorgan, while ITA is a Aerospace & Defense fund tracking the Dow Jones U.S. Select Aerospace & Defense Index. JEPI is actively managed, while ITA is passively managed. Over the past 5 years, JEPI returned 7.45%/yr vs 16.86%/yr for ITA. A 0.59 correlation means they provide meaningful diversification when combined. JEPI charges 0.35%/yr vs 0.38%/yr for ITA.

Performance

JEPI vs. ITA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Premium Income ETF (JEPI) and iShares U.S. Aerospace & Defense ETF (ITA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JEPI achieves a 1.29% return, which is significantly lower than ITA's 8.97% return.

JEPI

• 1D: 0.43%
• 1M: 0.79%
• YTD: 1.29%
• 6M: 1.18%
• 1Y: 8.34%
• 3Y*: 9.13%
• 5Y*: 7.45%
• 10Y*: —

ITA

• 1D: -0.95%
• 1M: 4.16%
• YTD: 8.97%
• 6M: 11.71%
• 1Y: 30.42%
• 3Y*: 27.30%
• 5Y*: 16.86%
• 10Y*: 15.34%

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

JEPI vs. ITA - 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%
ITA iShares U.S. Aerospace & Defense ETF	8.97%	48.64%	15.81%	14.33%	9.96%	9.39%	27.13%

Correlation

The correlation between JEPI and ITA is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (All Time) Calculated using the full available price history since May 21, 2020	0.59

The correlation between JEPI and ITA shifts across timeframes, from 0.48 (1 year) to 0.61 (5 years), reflecting how their relationship changes across market environments.

JEPI vs. ITA - Sectors Allocation Comparison

Sectors	JEPI	ITA
Technology	14.5%	0.1%
Healthcare	12.0%	-
Consumer Cyclical	10.1%	-
Industrials	9.5%	99.8%
Consumer Defensive	8.1%	-
Financial Services	7.4%	-
Communication Services	6.2%	-
Utilities	4.7%	-
Real Estate	2.9%	-
Energy	2.7%	-
Basic Materials	1.6%	-

Return for Risk

JEPI vs. ITA — Risk / Return Rank

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

JEPI

JEPI Risk / Return Rank: 28
JEPI Sharpe Ratio Rank: 30
JEPI Sortino Ratio Rank: 29
JEPI Omega Ratio Rank: 28
JEPI Calmar Ratio Rank: 27
JEPI Martin Ratio Rank: 28

ITA

ITA Risk / Return Rank: 44
ITA Sharpe Ratio Rank: 47
ITA Sortino Ratio Rank: 48
ITA Omega Ratio Rank: 43
ITA Calmar Ratio Rank: 45
ITA Martin Ratio Rank: 38

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. ITA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Premium Income ETF (JEPI) and iShares U.S. Aerospace & Defense ETF (ITA). 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	ITA	Difference
Sharpe ratio: Return per unit of total volatility	0.95	1.43	-0.48
Sortino ratio: Return per unit of downside risk	1.42	2.11	-0.68
Omega ratio: Gain probability vs. loss probability	1.17	1.25	-0.07
Calmar ratio: Return relative to maximum drawdown	1.14	1.97	-0.83
Martin ratio: Return relative to average drawdown	3.46	5.20	-1.74

JEPI vs. ITA - Sharpe Ratio Comparison

The current JEPI Sharpe Ratio is 0.95, which is lower than the ITA Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of JEPI and ITA, 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. ITA - Drawdown Comparison

The maximum JEPI drawdown since its inception was -13.71%, smaller than the maximum ITA drawdown of -59.72%. Use the drawdown chart below to compare losses from any high point for JEPI and ITA.

Drawdown Indicators

	JEPI	ITA	Difference
Max Drawdown Largest peak-to-trough decline	-13.71%	-59.72%	+46.01%
Max Drawdown (1Y) Largest decline over 1 year	-6.68%	-15.82%	+9.14%
Max Drawdown (3Y) Largest decline over 3 years	-13.26%	-15.82%	+2.56%
Max Drawdown (5Y) Largest decline over 5 years	-13.71%	-18.72%	+5.01%
Max Drawdown (10Y) Largest decline over 10 years	—	-51.00%	—
Current Drawdown Current decline from peak	-3.75%	-6.64%	+2.89%
Average Drawdown Average peak-to-trough decline	-2.13%	-9.45%	+7.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.20%	5.97%	-3.77%

Volatility

JEPI vs. ITA - Volatility Comparison

The current volatility for JPMorgan Equity Premium Income ETF (JEPI) is 2.05%, while iShares U.S. Aerospace & Defense ETF (ITA) has a volatility of 9.07%. This indicates that JEPI experiences smaller price fluctuations and is considered to be less risky than ITA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEPI	ITA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.05%	9.07%	-7.02%
Volatility (6M) Calculated over the trailing 6-month period	6.23%	18.47%	-12.24%
Volatility (1Y) Calculated over the trailing 1-year period	8.02%	21.74%	-13.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.08%	20.21%	-9.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.79%	23.22%	-12.43%

JEPI vs. ITA - Expense Ratio Comparison

JEPI has a 0.35% expense ratio, which is lower than ITA's 0.38% expense ratio.

Dividends

JEPI vs. ITA - Dividend Comparison

JEPI's dividend yield for the trailing twelve months is around 8.18%, more than ITA's 0.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ITA iShares U.S. Aerospace & Defense ETF	0.46%	0.55%	0.85%	0.93%	0.95%	0.82%	1.07%	1.54%	1.13%	0.91%	1.07%	1.04%
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

Can I hold both JEPI and ITA in my portfolio?

JEPI and ITA have a correlation of 0.48, 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 ITA?

ITA has higher volatility (9.07%) compared to JEPI (2.05%). In terms of maximum drawdown, JEPI dropped -13.71% vs ITA's -59.72%.

Which ETF is better, JEPI or ITA?

On 5-year performance, ITA leads with 16.86% vs 7.45% for JEPI. On fees, JEPI is cheaper at 0.35% per year. On volatility, JEPI has been the lower-risk option at 2.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JEPI or ITA?

Over the 5-year period, ITA has performed better with a 16.86% return vs 7.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEPI or ITA?

JEPI is cheaper with a 0.35% expense ratio, compared with 0.38% for ITA.

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

JEPI has the higher dividend yield at 8.18%, compared with 0.46% for ITA.

What is the main difference between JEPI and ITA?

JEPI is categorized as Dividend, while ITA is Aerospace & Defense. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.35% for JEPI and 0.38% for ITA.

Which has better risk-adjusted returns?

ITA currently has the higher Sharpe Ratio (1.43 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.