JMOM vs. JEPI

Last updated Aug 4, 2026

JMOM (JPMorgan U.S. Momentum Factor ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - JMOM is a Momentum fund tracking the JP Morgan US Momentum Factor Index, while JEPI is a Dividend fund actively managed by JPMorgan. JMOM is passively managed, while JEPI is actively managed. Over the past 5 years, JMOM returned 13.81%/yr vs 7.50%/yr for JEPI. Their 0.73 correlation means they have sometimes moved together and sometimes differently. JMOM charges 0.12%/yr vs 0.35%/yr for JEPI.

Performance

JMOM vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan U.S. Momentum Factor ETF (JMOM) and JPMorgan Equity Premium Income ETF (JEPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JMOM achieves a 20.54% return, which is significantly higher than JEPI's 5.04% return.

JMOM

• 1D: 1.25%
• 1M: -1.61%
• 6M: 16.11%
• YTD: 20.54%
• 1Y: 29.18%
• 3Y*: 25.54%
• 5Y*: 13.81%
• 10Y*: —
• ALL TIME*: 15.83%

JEPI

• 1D: 0.50%
• 1M: 1.78%
• 6M: 2.32%
• YTD: 5.04%
• 1Y: 11.72%
• 3Y*: 9.69%
• 5Y*: 7.50%
• 10Y*: —
• ALL TIME*: 11.36%

*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	$264.83M	$261.34M	$294.89M
JMOM JPMorgan U.S. Momentum Factor ETF	$17.82M	$11.76M	$9.25M

JMOM vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
JMOM JPMorgan U.S. Momentum Factor ETF	20.54%	18.02%	28.47%	22.89%	-20.83%	25.03%	32.63%
JEPI JPMorgan Equity Premium Income ETF	5.04%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.39%

Correlation

The correlation between JMOM and JEPI is 0.51, 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.	0.51
Correlation (3Y) Balances recent behavior with more history.	0.69
Correlation (5Y) Shows whether the relationship held over a longer period.	0.75
Correlation (All Time) Calculated using the full available price history since May 21, 2020	0.73

Over the past year, the correlation between JMOM and JEPI has dropped to 0.51 - well below their long-term average of 0.73, suggesting their price drivers have been diverging.

JMOM vs. JEPI - Sectors Allocation Comparison

Sectors	JMOM	JEPI
Technology	39.8%	15.4%
Industrials	13.3%	11.2%
Healthcare	9.5%	12.9%
Financial Services	9.2%	8.9%
Consumer Cyclical	7.7%	9.8%
Communication Services	6.5%	6.1%
Consumer Defensive	4.8%	7.7%
Energy	3.2%	2.6%
Real Estate	2.6%	2.6%
Utilities	2.3%	4.9%
Basic Materials	1.2%	1.6%

Return for Risk

JMOM vs. JEPI — Risk / Return Rank

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

JMOM

JMOM Risk / Return Rank: 80
JMOM Sharpe Ratio Rank: 76
JMOM Sortino Ratio Rank: 75
JMOM Omega Ratio Rank: 72
JMOM Calmar Ratio Rank: 88
JMOM Martin Ratio Rank: 88

JEPI

JEPI Risk / Return Rank: 56
JEPI Sharpe Ratio Rank: 61
JEPI Sortino Ratio Rank: 63
JEPI Omega Ratio Rank: 62
JEPI Calmar Ratio Rank: 48
JEPI Martin Ratio Rank: 44

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.

JMOM vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan U.S. Momentum Factor ETF (JMOM) and JPMorgan Equity Premium Income ETF (JEPI). 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.

	JMOM	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	1.78	1.46	+0.32
Sortino ratio: Return per unit of downside risk	2.46	2.14	+0.32
Omega ratio: Gain probability vs. loss probability	1.31	1.27	+0.04
Calmar ratio: Return relative to maximum drawdown	3.66	1.76	+1.90
Martin ratio: Return relative to average drawdown	13.51	4.99	+8.52

JMOM vs. JEPI - Sharpe Ratio Comparison

The current JMOM Sharpe Ratio is 1.78, which is comparable to the JEPI Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of JMOM and JEPI, 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

JMOM vs. JEPI - Drawdown Comparison

The maximum JMOM drawdown since its inception was -34.31%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for JMOM and JEPI.

Drawdown Indicators

	JMOM	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-34.31%	-13.71%	-20.60%
Max Drawdown (1Y) Largest decline over 1 year	-8.02%	-6.68%	-1.34%
Max Drawdown (3Y) Largest decline over 3 years	-19.51%	-13.26%	-6.25%
Max Drawdown (5Y) Largest decline over 5 years	-28.26%	-13.71%	-14.55%
Current Drawdown Current decline from peak	-4.22%	-0.18%	-4.04%
Average Drawdown Average peak-to-trough decline	-6.25%	-2.13%	-4.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	2.35%	-0.19%

Volatility

JMOM vs. JEPI - Volatility Comparison

JPMorgan U.S. Momentum Factor ETF (JMOM) has a higher volatility of 5.42% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.21%. This indicates that JMOM's price experiences larger fluctuations and is considered to be riskier than JEPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JMOM	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.42%	2.21%	+3.21%
Volatility (6M) Calculated over the trailing 6-month period	14.02%	6.39%	+7.63%
Volatility (1Y) Calculated over the trailing 1-year period	16.54%	8.10%	+8.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.00%	11.11%	+7.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.17%	10.73%	+9.44%

JMOM vs. JEPI - Expense Ratio Comparison

JMOM has a 0.12% expense ratio, which is lower than JEPI's 0.35% expense ratio.

Dividends

JMOM vs. JEPI - Dividend Comparison

JMOM's dividend yield for the trailing twelve months is around 0.75%, less than JEPI's 7.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
JMOM JPMorgan U.S. Momentum Factor ETF	0.75%	0.86%	0.75%	1.21%	1.39%	0.64%	0.85%	1.11%	1.38%	0.29%

Frequently Asked Questions

Can I hold both JMOM and JEPI in my portfolio?

JMOM and JEPI have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JMOM or JEPI?

JMOM has higher volatility (5.42%) compared to JEPI (2.21%). In terms of maximum drawdown, JMOM dropped -34.31% vs JEPI's -13.71%.

Which ETF is better, JMOM or JEPI?

On 5-year performance, JMOM leads with 13.81% vs 7.50% for JEPI. On fees, JMOM is cheaper at 0.12% 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, JMOM or JEPI?

Over the 5-year period, JMOM has performed better with a 13.81% return vs 7.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JMOM or JEPI?

JMOM is cheaper with a 0.12% expense ratio, compared with 0.35% for JEPI.

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

JEPI has the higher dividend yield at 7.99%, compared with 0.75% for JMOM.

What is the main difference between JMOM and JEPI?

JMOM is categorized as Momentum, while JEPI is Dividend. Their fees differ too: 0.12% for JMOM and 0.35% for JEPI.

Which has better risk-adjusted returns?

JMOM currently has the higher Sharpe Ratio (1.78 vs 1.46), 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.