JEPI vs. T

Last updated Jun 4, 2026

JEPI (JPMorgan Equity Premium Income ETF) is Dividend fund actively managed by JPMorgan, while T (AT&T Inc.) is a stock. Over the past 5 years, JEPI returned 7.26%/yr vs 7.39%/yr for T. At a 0.34 correlation, their price movements are largely independent.

Performance

JEPI vs. T - Performance Comparison

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

Returns By Period

In the year-to-date period, JEPI achieves a 0.15% return, which is significantly higher than T's -3.08% return.

JEPI

• 1D: 0.14%
• 1M: -1.54%
• YTD: 0.15%
• 6M: 0.47%
• 1Y: 7.70%
• 3Y*: 8.88%
• 5Y*: 7.26%
• 10Y*: —

T

• 1D: -4.42%
• 1M: -9.77%
• YTD: -3.08%
• 6M: -4.92%
• 1Y: -12.10%
• 3Y*: 22.12%
• 5Y*: 7.39%
• 10Y*: 3.62%

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

JEPI vs. T - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
JEPI JPMorgan Equity Premium Income ETF	0.15%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.61%
T AT&T Inc.	-3.08%	13.97%	44.08%	-2.74%	5.76%	-8.09%	0.09%

Correlation

The correlation between JEPI and T is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (All Time) Calculated using the full available price history since May 22, 2020	0.34

Over the past year, the correlation between JEPI and T has dropped to 0.10 - well below their long-term average of 0.34, suggesting their price drivers have been diverging.

Return for Risk

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

T

T Risk / Return Rank: 17
T Sharpe Ratio Rank: 17
T Sortino Ratio Rank: 16
T Omega Ratio Rank: 17
T Calmar Ratio Rank: 19
T Martin Ratio Rank: 14

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. T - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Premium Income ETF (JEPI) and AT&T Inc. (T). 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	T	Difference
Sharpe ratio: Return per unit of total volatility	0.99	-0.56	+1.54
Sortino ratio: Return per unit of downside risk	1.47	-0.67	+2.14
Omega ratio: Gain probability vs. loss probability	1.18	0.92	+0.26
Calmar ratio: Return relative to maximum drawdown	1.16	-0.59	+1.75
Martin ratio: Return relative to average drawdown	3.73	-1.20	+4.94
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. T - Sharpe Ratio Comparison

The current JEPI Sharpe Ratio is 0.99, which is higher than the T Sharpe Ratio of -0.56. The chart below compares the historical Sharpe Ratios of JEPI and T, 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	T	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.99	-0.56	+1.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.31	+0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.15	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	0.38	+0.63

Drawdowns

JEPI vs. T - Drawdown Comparison

The maximum JEPI drawdown since its inception was -13.71%, smaller than the maximum T drawdown of -64.15%. Use the drawdown chart below to compare losses from any high point for JEPI and T.

Drawdown Indicators

	JEPI	T	Difference
Max Drawdown Largest peak-to-trough decline	-13.71%	-64.15%	+50.44%
Max Drawdown (1Y) Largest decline over 1 year	-6.68%	-20.60%	+13.92%
Max Drawdown (3Y) Largest decline over 3 years	-13.26%	-20.60%	+7.34%
Max Drawdown (5Y) Largest decline over 5 years	-13.71%	-32.01%	+18.30%
Max Drawdown (10Y) Largest decline over 10 years	—	-42.35%	—
Current Drawdown Current decline from peak	-4.83%	-18.23%	+13.40%
Average Drawdown Average peak-to-trough decline	-2.12%	-15.72%	+13.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	10.08%	-8.01%

Volatility

JEPI vs. T - Volatility Comparison

The current volatility for JPMorgan Equity Premium Income ETF (JEPI) is 1.35%, while AT&T Inc. (T) has a volatility of 6.96%. This indicates that JEPI experiences smaller price fluctuations and is considered to be less risky than T based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEPI	T	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	6.96%	-5.61%
Volatility (6M) Calculated over the trailing 6-month period	6.07%	17.27%	-11.20%
Volatility (1Y) Calculated over the trailing 1-year period	7.85%	21.86%	-14.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.06%	23.92%	-12.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.80%	23.69%	-12.89%

Dividends

JEPI vs. T - Dividend Comparison

JEPI's dividend yield for the trailing twelve months is around 8.27%, more than T's 4.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPI JPMorgan Equity Premium Income ETF	8.27%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%	0.00%	0.00%	0.00%	0.00%
T AT&T Inc.	4.71%	4.47%	4.87%	6.62%	6.66%	8.46%	7.23%	5.22%	7.01%	5.04%	4.51%	5.46%

Frequently Asked Questions

Can I hold both JEPI and T in my portfolio?

JEPI and T have a correlation of 0.10, 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 T?

T has higher volatility (6.96%) compared to JEPI (1.35%). In terms of maximum drawdown, JEPI dropped -13.71% vs T's -64.15%.

Which has better risk-adjusted returns?

JEPI currently has the higher Sharpe Ratio (0.99 vs -0.56), 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.