JEPI vs. NDIV

Last updated Aug 5, 2026

JEPI (JPMorgan Equity Premium Income ETF) and NDIV (Amplify Energy & Natural Resources Covered Call ETF) are both exchange-traded funds - JEPI is a Dividend fund actively managed by JPMorgan, while NDIV is a Energy Equities fund tracking the VettaFi Energy and Natural Resources Covered Call Index. JEPI is actively managed, while NDIV is passively managed. Over the past 3 years, JEPI returned 9.69%/yr vs 15.23%/yr for NDIV. Their 0.44 correlation means their historical movements had little consistent relationship. JEPI charges 0.35%/yr vs 0.59%/yr for NDIV.

Performance

JEPI vs. NDIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Premium Income ETF (JEPI) and Amplify Energy & Natural Resources Covered Call ETF (NDIV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JEPI achieves a 5.04% return, which is significantly lower than NDIV's 30.97% return.

JEPI

• 1D: 0.00%
• 1M: 1.78%
• 6M: 2.60%
• YTD: 5.04%
• 1Y: 10.49%
• 3Y*: 9.69%
• 5Y*: 7.44%
• 10Y*: —
• ALL TIME*: 11.36%

NDIV

• 1D: -0.72%
• 1M: 5.87%
• 6M: 14.23%
• YTD: 30.97%
• 1Y: 30.92%
• 3Y*: 15.23%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.00%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JEPI JPMorgan Equity Premium Income ETF	$281.46M	$266.57M	$294.72M
NDIV Amplify Energy & Natural Resources Covered Call ETF	$336.27K	$379.31K	$487.11K

JEPI vs. NDIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JEPI JPMorgan Equity Premium Income ETF	5.04%	8.09%	12.57%	9.83%	0.41%
NDIV Amplify Energy & Natural Resources Covered Call ETF	30.97%	2.85%	6.18%	15.52%	1.50%

Correlation

The correlation between JEPI and NDIV is 0.17, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.17
Correlation (3Y) Balances recent behavior with more history.	0.37
Correlation (All Time) Calculated using the full available price history since Aug 24, 2022	0.44

Over the past year, the correlation between JEPI and NDIV has dropped to 0.17 - well below their long-term average of 0.44, suggesting their price drivers have been diverging.

JEPI vs. NDIV - Sectors Allocation Comparison

Sectors	JEPI	NDIV
Technology	15.4%	-
Healthcare	12.9%	-
Industrials	11.2%	6.5%
Consumer Cyclical	9.8%	-
Financial Services	8.9%	0.7%
Consumer Defensive	7.7%	-
Communication Services	6.1%	-
Utilities	4.9%	-
Real Estate	2.6%	-
Energy	2.6%	80.6%
Basic Materials	1.6%	19.2%

Return for Risk

JEPI vs. NDIV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JEPI

JEPI Risk / Return Rank: 44
JEPI Sharpe Ratio Rank: 47
JEPI Sortino Ratio Rank: 48
JEPI Omega Ratio Rank: 46
JEPI Calmar Ratio Rank: 40
JEPI Martin Ratio Rank: 39

NDIV

NDIV Risk / Return Rank: 58
NDIV Sharpe Ratio Rank: 60
NDIV Sortino Ratio Rank: 56
NDIV Omega Ratio Rank: 53
NDIV Calmar Ratio Rank: 68
NDIV Martin Ratio Rank: 51

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JEPI vs. NDIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Premium Income ETF (JEPI) and Amplify Energy & Natural Resources Covered Call ETF (NDIV). 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	NDIV	Difference
Sharpe ratio: Return per unit of total volatility	1.31	1.60	-0.29
Sortino ratio: Return per unit of downside risk	1.93	2.16	-0.23
Omega ratio: Gain probability vs. loss probability	1.24	1.27	-0.03
Calmar ratio: Return relative to maximum drawdown	1.58	2.69	-1.11
Martin ratio: Return relative to average drawdown	4.47	6.61	-2.14

JEPI vs. NDIV - Sharpe Ratio Comparison

The current JEPI Sharpe Ratio is 1.31, which is comparable to the NDIV Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of JEPI and NDIV, 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. NDIV - Drawdown Comparison

The maximum JEPI drawdown since its inception was -13.71%, smaller than the maximum NDIV drawdown of -19.73%. Use the drawdown chart below to compare losses from any high point for JEPI and NDIV.

Drawdown Indicators

	JEPI	NDIV	Difference
Max Drawdown Largest peak-to-trough decline	-13.71%	-19.73%	+6.02%
Max Drawdown (1Y) Largest decline over 1 year	-6.68%	-11.56%	+4.88%
Max Drawdown (3Y) Largest decline over 3 years	-13.26%	-19.73%	+6.47%
Max Drawdown (5Y) Largest decline over 5 years	-13.71%	—	—
Current Drawdown Current decline from peak	-0.18%	-5.29%	+5.11%
Average Drawdown Average peak-to-trough decline	-2.13%	-4.31%	+2.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.35%	4.69%	-2.34%

Volatility

JEPI vs. NDIV - Volatility Comparison

The current volatility for JPMorgan Equity Premium Income ETF (JEPI) is 2.21%, while Amplify Energy & Natural Resources Covered Call ETF (NDIV) has a volatility of 5.28%. This indicates that JEPI experiences smaller price fluctuations and is considered to be less risky than NDIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEPI	NDIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.21%	5.28%	-3.07%
Volatility (6M) Calculated over the trailing 6-month period	6.38%	13.68%	-7.30%
Volatility (1Y) Calculated over the trailing 1-year period	8.08%	19.37%	-11.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.11%	20.87%	-9.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.73%	20.87%	-10.14%

JEPI vs. NDIV - Expense Ratio Comparison

JEPI has a 0.35% expense ratio, which is lower than NDIV's 0.59% expense ratio.

Dividends

JEPI vs. NDIV - Dividend Comparison

JEPI's dividend yield for the trailing twelve months is around 7.99%, more than NDIV's 7.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
JEPI JPMorgan Equity Premium Income ETF	7.99%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%
NDIV Amplify Energy & Natural Resources Covered Call ETF	7.84%	5.64%	5.88%	7.37%	1.69%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JEPI and NDIV in my portfolio?

JEPI and NDIV have a correlation of 0.17, 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 NDIV?

NDIV has higher volatility (5.28%) compared to JEPI (2.21%). In terms of maximum drawdown, JEPI dropped -13.71% vs NDIV's -19.73%.

Which ETF is better, JEPI or NDIV?

On 3-year performance, NDIV leads with 15.23% vs 9.69% for JEPI. On fees, JEPI is cheaper at 0.35% per year. On volatility, JEPI has been the lower-risk option at 2.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JEPI or NDIV?

Over the 3-year period, NDIV has performed better with a 15.23% return vs 9.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEPI or NDIV?

JEPI is cheaper with a 0.35% expense ratio, compared with 0.59% for NDIV.

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

JEPI has the higher dividend yield at 7.99%, compared with 7.84% for NDIV.

What is the main difference between JEPI and NDIV?

JEPI is categorized as Dividend, while NDIV is Energy Equities. They also come from different issuers: JPMorgan and Amplify. Their fees differ too: 0.35% for JEPI and 0.59% for NDIV.

Which has better risk-adjusted returns?

NDIV currently has the higher Sharpe Ratio (1.60 vs 1.31), 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.