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JEPI vs. XYLD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JEPI vs. XYLD

Last updated Jul 31, 2026
Documentation

JEPI (JPMorgan Equity Premium Income ETF) and XYLD (Global X S&P 500 Covered Call ETF) are both exchange-traded funds - JEPI is a Dividend fund actively managed by JPMorgan, while XYLD is a Derivative Income fund tracking the Cboe S&P 500 BuyWrite Index. JEPI is actively managed, while XYLD is passively managed. Over the past 5 years, JEPI returned 7.33%/yr vs 7.79%/yr for XYLD. Their 0.70 correlation means they have sometimes moved together and sometimes differently. JEPI charges 0.35%/yr vs 0.60%/yr for XYLD.

Performance

JEPI vs. XYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Premium Income ETF (JEPI) and Global X S&P 500 Covered Call ETF (XYLD). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, JEPI achieves a 4.17% return, which is significantly lower than XYLD's 7.53% return.

JEPI

1D
0.56%
1M
2.05%
6M
1.84%
YTD
4.17%
1Y
9.09%
3Y*
9.08%
5Y*
7.33%
10Y*
—
ALL TIME*
11.23%

XYLD

1D
1.11%
1M
1.45%
6M
6.19%
YTD
7.53%
1Y
17.20%
3Y*
11.36%
5Y*
7.79%
10Y*
8.22%
ALL TIME*
8.34%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

JEPI

JPMorgan Equity Premium Income ETF
$266.77M$260.58M$298.64M

XYLD

Global X S&P 500 Covered Call ETF
$37.44M$37.28M$32.49M

JEPI vs. XYLD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
JEPI
JPMorgan Equity Premium Income ETF		4.17%8.09%12.57%9.83%-3.49%21.52%18.39%
XYLD
Global X S&P 500 Covered Call ETF		7.53%8.02%19.49%11.10%-12.05%19.59%17.91%

Correlation

The correlation between JEPI and XYLD is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.58

Correlation (3Y)
Balances recent behavior with more history.

0.67

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.72

Correlation (All Time)
Calculated using the full available price history since May 21, 2020

0.70

The correlation between JEPI and XYLD shifts across timeframes, from 0.58 (1 year) to 0.72 (5 years), reflecting how their relationship changes across market environments.

JEPI vs. XYLD - Sectors Allocation Comparison

Sectors
JEPI
XYLD

Technology

15.3%
38.5%

Healthcare

12.8%
8.9%

Industrials

10.7%
8.4%

Consumer Cyclical

10.0%
9.5%

Financial Services

9.1%
11.6%

Consumer Defensive

7.8%
4.5%

Communication Services

6.2%
9.9%

Utilities

4.8%
2.2%

Real Estate

2.6%
1.8%

Energy

2.5%
3.0%

Basic Materials

1.6%
1.7%

Technology

JEPI
15.3%
XYLD
38.5%

Healthcare

JEPI
12.8%
XYLD
8.9%

Industrials

JEPI
10.7%
XYLD
8.4%

Consumer Cyclical

JEPI
10.0%
XYLD
9.5%

Financial Services

JEPI
9.1%
XYLD
11.6%

Consumer Defensive

JEPI
7.8%
XYLD
4.5%

Communication Services

JEPI
6.2%
XYLD
9.9%

Utilities

JEPI
4.8%
XYLD
2.2%

Real Estate

JEPI
2.6%
XYLD
1.8%

Energy

JEPI
2.5%
XYLD
3.0%

Basic Materials

JEPI
1.6%
XYLD
1.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

JPMorgan Equity Premium Income ETF

Global X S&P 500 Covered Call ETF

Often compared with JEPI:
JEPI vs. JEPQJEPI vs. SCHDJEPI vs. SPYJEPI vs. QYLDJEPI vs. SPYIJEPI vs. QQQIJEPI vs. DIVO
Often compared with XYLD:
XYLD vs. QYLDXYLD vs. SPYXYLD vs. RYLDXYLD vs. XYLGXYLD vs. VOOXYLD vs. SCHDXYLD vs. HYLD.TO

Return for Risk

JEPI vs. XYLD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
JEPI
JEPI Risk / Return Rank: 4545
Overall Rank
JEPI Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
JEPI Sortino Ratio Rank: 4949
Sortino Ratio Rank
JEPI Omega Ratio Rank: 4848
Omega Ratio Rank
JEPI Calmar Ratio Rank: 4141
Calmar Ratio Rank
JEPI Martin Ratio Rank: 3939
Martin Ratio Rank
XYLD
XYLD Risk / Return Rank: 9292
Overall Rank
XYLD Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
XYLD Sortino Ratio Rank: 9393
Sortino Ratio Rank
XYLD Omega Ratio Rank: 9595
Omega Ratio Rank
XYLD Calmar Ratio Rank: 8686
Calmar Ratio Rank
XYLD Martin Ratio Rank: 9393
Martin Ratio Rank
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. XYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Premium Income ETF (JEPI) and Global X S&P 500 Covered Call ETF (XYLD). 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.

JEPIXYLDDifference
Sharpe ratioReturn per unit of total volatility
1.12
2.43

-1.31

Sortino ratioReturn per unit of downside risk
1.66
3.46

-1.80

Omega ratioGain probability vs. loss probability

1.21

1.54

-0.33

Calmar ratioReturn relative to maximum drawdown

1.37

3.27

-1.90

Martin ratioReturn relative to average drawdown

3.87

16.95

-13.08

JEPI vs. XYLD - Sharpe Ratio Comparison

The current JEPI Sharpe Ratio is 1.12, which is lower than the XYLD Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of JEPI and XYLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

JEPI vs. XYLD - Drawdown Comparison

The maximum JEPI drawdown since its inception was -13.71%, smaller than the maximum XYLD drawdown of -33.46%. Use the drawdown chart below to compare losses from any high point for JEPI and XYLD.

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Drawdown Indicators

JEPIXYLDDifference

Max Drawdown

Largest peak-to-trough decline

-13.71%

-33.46%

+19.75%

Max Drawdown (1Y)

Largest decline over 1 year

-6.68%

-5.29%

-1.39%

Max Drawdown (3Y)

Largest decline over 3 years

-13.26%

-15.53%

+2.27%

Max Drawdown (5Y)

Largest decline over 5 years

-13.71%

-18.66%

+4.95%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.46%

—

Current Drawdown

Current decline from peak

-1.01%

0.00%

-1.01%

Average Drawdown

Average peak-to-trough decline

-2.13%

-3.68%

+1.55%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.36%

1.02%

+1.34%

Volatility

JEPI vs. XYLD - Volatility Comparison

JPMorgan Equity Premium Income ETF (JEPI) has a higher volatility of 2.37% compared to Global X S&P 500 Covered Call ETF (XYLD) at 1.88%. This indicates that JEPI's price experiences larger fluctuations and is considered to be riskier than XYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

JEPIXYLDDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.37%

1.88%

+0.49%

Volatility (6M)

Calculated over the trailing 6-month period

6.36%

5.96%

+0.40%

Volatility (1Y)

Calculated over the trailing 1-year period

8.17%

7.12%

+1.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.11%

11.27%

-0.16%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.74%

14.15%

-3.41%

JEPI vs. XYLD - Expense Ratio Comparison

JEPI has a 0.35% expense ratio, which is lower than XYLD's 0.60% expense ratio.

Dividends

JEPI vs. XYLD - Dividend Comparison

JEPI's dividend yield for the trailing twelve months is around 7.99%, less than XYLD's 10.58% yield.

PositionTTM20252024202320222021202020192018201720162015
JEPI
JPMorgan Equity Premium Income ETF		7.99%8.25%7.33%8.40%11.68%6.59%5.79%0.00%0.00%0.00%0.00%0.00%
XYLD
Global X S&P 500 Covered Call ETF		10.58%10.51%11.54%10.51%13.43%9.07%7.93%5.76%7.12%5.18%3.23%4.65%

Frequently Asked Questions

JEPI and XYLD have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

JEPI has higher volatility (2.37%) compared to XYLD (1.88%). In terms of maximum drawdown, JEPI dropped -13.71% vs XYLD's -33.46%.

On 5-year performance, XYLD leads with 7.79% vs 7.33% for JEPI. On fees, JEPI is cheaper at 0.35% per year. On volatility, XYLD has been the lower-risk option at 1.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, XYLD has performed better with a 7.79% return vs 7.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

JEPI is cheaper with a 0.35% expense ratio, compared with 0.60% for XYLD.

XYLD has the higher dividend yield at 10.58%, compared with 7.99% for JEPI.

JEPI is categorized as Dividend, while XYLD is Derivative Income. They also come from different issuers: JPMorgan and Global X. Their fees differ too: 0.35% for JEPI and 0.60% for XYLD.

XYLD currently has the higher Sharpe Ratio (2.43 vs 1.12), 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.

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