JEPI vs. MSTY

Last updated Jun 16, 2026

JEPI (JPMorgan Equity Premium Income ETF) and MSTY (YieldMax™ MSTR Option Income Strategy ETF) are both exchange-traded funds - JEPI is a Dividend fund actively managed by JPMorgan, while MSTY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, JEPI returned 8.98% vs -60.49% for MSTY. At a 0.30 correlation, their price movements are largely independent. JEPI charges 0.35%/yr vs 0.99%/yr for MSTY.

Performance

JEPI vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Premium Income ETF (JEPI) and YieldMax™ MSTR Option Income Strategy ETF (MSTY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JEPI achieves a 1.89% return, which is significantly higher than MSTY's -12.23% return.

JEPI

• 1D: 0.59%
• 1M: 1.56%
• YTD: 1.89%
• 6M: 1.70%
• 1Y: 8.98%
• 3Y*: 9.19%
• 5Y*: 7.65%
• 10Y*: —

MSTY

• 1D: 4.50%
• 1M: -23.91%
• YTD: -12.23%
• 6M: -15.80%
• 1Y: -60.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JEPI vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JEPI JPMorgan Equity Premium Income ETF	1.89%	8.09%	8.95%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-12.23%	-42.71%	212.16%

Correlation

The correlation between JEPI and MSTY is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (All Time) Calculated using the full available price history since Feb 22, 2024	0.30

Return for Risk

JEPI vs. MSTY — Risk / Return Rank

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

JEPI

JEPI Risk / Return Rank: 33
JEPI Sharpe Ratio Rank: 34
JEPI Sortino Ratio Rank: 34
JEPI Omega Ratio Rank: 33
JEPI Calmar Ratio Rank: 30
JEPI Martin Ratio Rank: 31

MSTY

MSTY Risk / Return Rank: 2
MSTY Sharpe Ratio Rank: 1
MSTY Sortino Ratio Rank: 1
MSTY Omega Ratio Rank: 1
MSTY Calmar Ratio Rank: 2
MSTY Martin Ratio Rank: 3

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. MSTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Premium Income ETF (JEPI) and YieldMax™ MSTR Option Income Strategy ETF (MSTY). 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	MSTY	Difference
Sharpe ratio: Return per unit of total volatility	1.13	-0.99	+2.11
Sortino ratio: Return per unit of downside risk	1.68	-1.64	+3.32
Omega ratio: Gain probability vs. loss probability	1.21	0.82	+0.39
Calmar ratio: Return relative to maximum drawdown	1.35	-0.84	+2.19
Martin ratio: Return relative to average drawdown	4.09	-1.25	+5.34

JEPI vs. MSTY - Sharpe Ratio Comparison

The current JEPI Sharpe Ratio is 1.13, which is higher than the MSTY Sharpe Ratio of -0.99. The chart below compares the historical Sharpe Ratios of JEPI and MSTY, 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. MSTY - Drawdown Comparison

The maximum JEPI drawdown since its inception was -13.71%, smaller than the maximum MSTY drawdown of -71.79%. Use the drawdown chart below to compare losses from any high point for JEPI and MSTY.

Drawdown Indicators

	JEPI	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-13.71%	-71.79%	+58.08%
Max Drawdown (1Y) Largest decline over 1 year	-6.68%	-71.79%	+65.11%
Max Drawdown (3Y) Largest decline over 3 years	-13.26%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-13.71%	—	—
Current Drawdown Current decline from peak	-3.18%	-65.49%	+62.31%
Average Drawdown Average peak-to-trough decline	-2.13%	-26.61%	+24.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.20%	48.38%	-46.18%

Volatility

JEPI vs. MSTY - Volatility Comparison

The current volatility for JPMorgan Equity Premium Income ETF (JEPI) is 2.12%, while YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a volatility of 19.30%. This indicates that JEPI experiences smaller price fluctuations and is considered to be less risky than MSTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEPI	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.12%	19.30%	-17.18%
Volatility (6M) Calculated over the trailing 6-month period	6.23%	49.85%	-43.62%
Volatility (1Y) Calculated over the trailing 1-year period	8.01%	61.63%	-53.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.08%	71.87%	-60.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.79%	71.87%	-61.08%

JEPI vs. MSTY - Expense Ratio Comparison

JEPI has a 0.35% expense ratio, which is lower than MSTY's 0.99% expense ratio.

Dividends

JEPI vs. MSTY - Dividend Comparison

JEPI's dividend yield for the trailing twelve months is around 8.13%, less than MSTY's 230.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
JEPI JPMorgan Equity Premium Income ETF	8.13%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%
MSTY YieldMax™ MSTR Option Income Strategy ETF	230.78%	294.61%	104.56%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JEPI and MSTY in my portfolio?

JEPI and MSTY have a correlation of 0.27, 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 MSTY?

MSTY has higher volatility (19.30%) compared to JEPI (2.12%). In terms of maximum drawdown, JEPI dropped -13.71% vs MSTY's -71.79%.

Which ETF is better, JEPI or MSTY?

On 1-year performance, JEPI leads with 8.98% vs -60.49% for MSTY. On fees, JEPI is cheaper at 0.35% per year. On volatility, JEPI has been the lower-risk option at 2.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JEPI or MSTY?

Over the 1-year period, JEPI has performed better with a 8.98% return vs -60.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEPI or MSTY?

JEPI is cheaper with a 0.35% expense ratio, compared with 0.99% for MSTY.

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

MSTY has the higher dividend yield at 230.78%, compared with 8.13% for JEPI.

What is the main difference between JEPI and MSTY?

JEPI is categorized as Dividend, while MSTY is Derivative Income. They also come from different issuers: JPMorgan and YieldMax. Their fees differ too: 0.35% for JEPI and 0.99% for MSTY.

Which has better risk-adjusted returns?

JEPI currently has the higher Sharpe Ratio (1.13 vs -0.99), 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.