JEPI vs. SHLD

Last updated Jun 14, 2026

JEPI (JPMorgan Equity Premium Income ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - JEPI is a Dividend fund actively managed by JPMorgan, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. JEPI is actively managed, while SHLD is passively managed. Over the past year, JEPI returned 8.34% vs 8.26% for SHLD. At a 0.46 correlation, their price movements are largely independent. JEPI charges 0.35%/yr vs 0.50%/yr for SHLD.

Performance

JEPI vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Premium Income ETF (JEPI) and Global X Defense Tech ETF (SHLD). 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 higher than SHLD's -1.50% return.

JEPI

• 1D: 0.43%
• 1M: 0.97%
• YTD: 1.29%
• 6M: 1.18%
• 1Y: 8.34%
• 3Y*: 9.13%
• 5Y*: 7.45%
• 10Y*: —

SHLD

• 1D: -2.04%
• 1M: 2.37%
• YTD: -1.50%
• 6M: -1.03%
• 1Y: 8.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JEPI vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JEPI JPMorgan Equity Premium Income ETF	1.29%	8.09%	12.57%	2.53%
SHLD Global X Defense Tech ETF	-1.50%	74.16%	35.03%	12.89%

Correlation

The correlation between JEPI and SHLD is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	0.46

The correlation between JEPI and SHLD shifts across timeframes, from 0.34 (1 year) to 0.46 (all time), reflecting how their relationship changes across market environments.

JEPI vs. SHLD - Sectors Allocation Comparison

Sectors	JEPI	SHLD
Technology	14.5%	12.2%
Healthcare	12.0%	-
Consumer Cyclical	10.1%	-
Industrials	9.5%	87.8%
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. SHLD — 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

SHLD

SHLD Risk / Return Rank: 16
SHLD Sharpe Ratio Rank: 17
SHLD Sortino Ratio Rank: 17
SHLD Omega Ratio Rank: 16
SHLD Calmar Ratio Rank: 16
SHLD Martin Ratio Rank: 16

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. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Premium Income ETF (JEPI) and Global X Defense Tech ETF (SHLD). 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	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	0.95	0.43	+0.52
Sortino ratio: Return per unit of downside risk	1.42	0.78	+0.64
Omega ratio: Gain probability vs. loss probability	1.17	1.09	+0.09
Calmar ratio: Return relative to maximum drawdown	1.14	0.52	+0.62
Martin ratio: Return relative to average drawdown	3.46	1.28	+2.18

JEPI vs. SHLD - Sharpe Ratio Comparison

The current JEPI Sharpe Ratio is 0.95, which is higher than the SHLD Sharpe Ratio of 0.43. The chart below compares the historical Sharpe Ratios of JEPI and SHLD, 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. SHLD - Drawdown Comparison

The maximum JEPI drawdown since its inception was -13.71%, smaller than the maximum SHLD drawdown of -20.10%. Use the drawdown chart below to compare losses from any high point for JEPI and SHLD.

Drawdown Indicators

	JEPI	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-13.71%	-20.10%	+6.39%
Max Drawdown (1Y) Largest decline over 1 year	-6.68%	-20.10%	+13.42%
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	-3.75%	-18.20%	+14.45%
Average Drawdown Average peak-to-trough decline	-2.13%	-3.34%	+1.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.20%	8.12%	-5.92%

Volatility

JEPI vs. SHLD - Volatility Comparison

The current volatility for JPMorgan Equity Premium Income ETF (JEPI) is 2.05%, while Global X Defense Tech ETF (SHLD) has a volatility of 9.05%. This indicates that JEPI experiences smaller price fluctuations and is considered to be less risky than SHLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEPI	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.05%	9.05%	-7.00%
Volatility (6M) Calculated over the trailing 6-month period	6.23%	19.94%	-13.71%
Volatility (1Y) Calculated over the trailing 1-year period	8.02%	24.55%	-16.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.08%	21.29%	-10.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.79%	21.29%	-10.50%

JEPI vs. SHLD - Expense Ratio Comparison

JEPI has a 0.35% expense ratio, which is lower than SHLD's 0.50% expense ratio.

Dividends

JEPI vs. SHLD - Dividend Comparison

JEPI's dividend yield for the trailing twelve months is around 8.18%, more than SHLD's 0.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
JEPI JPMorgan Equity Premium Income ETF	8.18%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%
SHLD Global X Defense Tech ETF	0.56%	0.55%	0.53%	0.26%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JEPI and SHLD in my portfolio?

JEPI and SHLD have a correlation of 0.34, 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 SHLD?

SHLD has higher volatility (9.05%) compared to JEPI (2.05%). In terms of maximum drawdown, JEPI dropped -13.71% vs SHLD's -20.10%.

Which ETF is better, JEPI or SHLD?

On 1-year performance, JEPI leads with 8.34% vs 8.26% for SHLD. 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 SHLD?

Over the 1-year period, JEPI has performed better with a 8.34% return vs 8.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEPI or SHLD?

JEPI is cheaper with a 0.35% expense ratio, compared with 0.50% for SHLD.

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

JEPI has the higher dividend yield at 8.18%, compared with 0.56% for SHLD.

What is the main difference between JEPI and SHLD?

JEPI is categorized as Dividend, while SHLD is Aerospace & Defense. They also come from different issuers: JPMorgan and Global X. Their fees differ too: 0.35% for JEPI and 0.50% for SHLD.

Which has better risk-adjusted returns?

JEPI currently has the higher Sharpe Ratio (0.95 vs 0.43), 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.