JOYT vs. KHPI

Last updated Jul 17, 2026

JOYT (JPMorgan Equity And Options Total Return ETF) and KHPI (Kensington Hedged Premium Income ETF) are both Derivative Income funds. Both are actively managed. A 0.79 correlation means they provide meaningful diversification when combined. JOYT charges 0.35%/yr vs 0.96%/yr for KHPI.

Performance

JOYT vs. KHPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity And Options Total Return ETF (JOYT) and Kensington Hedged Premium Income ETF (KHPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with JOYT having a 6.61% return and KHPI slightly lower at 6.28%.

JOYT

• 1D: -0.25%
• 1M: 1.29%
• 6M: 5.51%
• YTD: 6.61%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

KHPI

• 1D: 0.08%
• 1M: 0.94%
• 6M: 5.70%
• YTD: 6.28%
• 1Y: 12.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JOYT vs. KHPI - Yearly Performance Comparison

	2026 (YTD)	2025
JOYT JPMorgan Equity And Options Total Return ETF	6.61%	9.15%
KHPI Kensington Hedged Premium Income ETF	6.28%	4.60%

Correlation

The correlation between JOYT and KHPI is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025	0.79

Return for Risk

JOYT vs. KHPI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JOYT

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

KHPI

KHPI Risk / Return Rank: 59
KHPI Sharpe Ratio Rank: 61
KHPI Sortino Ratio Rank: 63
KHPI Omega Ratio Rank: 64
KHPI Calmar Ratio Rank: 46
KHPI Martin Ratio Rank: 62

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.

JOYT vs. KHPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity And Options Total Return ETF (JOYT) and Kensington Hedged Premium Income ETF (KHPI). 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.

	JOYT	KHPI	Difference
Sharpe ratio: Return per unit of total volatility	—	1.64	—
Sortino ratio: Return per unit of downside risk	—	2.35	—
Omega ratio: Gain probability vs. loss probability	—	1.31	—
Calmar ratio: Return relative to maximum drawdown	—	1.87	—
Martin ratio: Return relative to average drawdown	—	8.57	—

Drawdowns

JOYT vs. KHPI - Drawdown Comparison

The maximum JOYT drawdown since its inception was -6.99%, smaller than the maximum KHPI drawdown of -10.58%. Use the drawdown chart below to compare losses from any high point for JOYT and KHPI.

Drawdown Indicators

	JOYT	KHPI	Difference
Max Drawdown Largest peak-to-trough decline	-6.99%	-10.58%	+3.59%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.55%	—
Current Drawdown Current decline from peak	-0.25%	0.00%	-0.25%
Average Drawdown Average peak-to-trough decline	-0.87%	-1.20%	+0.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.43%	—

Volatility

Volatility by Period

	JOYT	KHPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.33%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.91%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.60%	7.49%	+2.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.60%	9.52%	+0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.60%	9.52%	+0.08%

JOYT vs. KHPI - Expense Ratio Comparison

JOYT has a 0.35% expense ratio, which is lower than KHPI's 0.96% expense ratio.

Dividends

JOYT vs. KHPI - Dividend Comparison

JOYT's dividend yield for the trailing twelve months is around 0.62%, less than KHPI's 8.87% yield.

Position	TTM	2025	2024
JOYT JPMorgan Equity And Options Total Return ETF	0.62%	0.28%	0.00%
KHPI Kensington Hedged Premium Income ETF	8.87%	8.90%	3.01%

Frequently Asked Questions

Can I hold both JOYT and KHPI in my portfolio?

JOYT and KHPI have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JOYT or KHPI?

On fees, JOYT is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JOYT or KHPI?

JOYT is cheaper with a 0.35% expense ratio, compared with 0.96% for KHPI.

Which ETF pays a higher dividend yield, JOYT or KHPI?

KHPI has the higher dividend yield at 8.87%, compared with 0.62% for JOYT.

What is the main difference between JOYT and KHPI?

They also come from different issuers: JPMorgan and Kensington Asset Management. Their fees differ too: 0.35% for JOYT and 0.96% for KHPI.