JOYT vs. KHPI

Last updated Apr 1, 2026

Compare and contrast key facts about JPMorgan Equity And Options Total Return ETF (JOYT) and Kensington Hedged Premium Income ETF (KHPI).

JOYT and KHPI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JOYT is an actively managed fund by JPMorgan. It was launched on Aug 18, 2025. KHPI is an actively managed fund by Kensington Asset Management. It was launched on Sep 4, 2024.

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.

JOYT vs. KHPI - Yearly Performance Comparison

	2026 (YTD)	2025
JOYT JPMorgan Equity And Options Total Return ETF	-2.11%	9.58%
KHPI Kensington Hedged Premium Income ETF	-3.49%	4.89%

Returns By Period

In the year-to-date period, JOYT achieves a -2.11% return, which is significantly higher than KHPI's -3.49% return.

JOYT

• 1D: 2.40%
• 1M: -3.95%
• YTD: -2.11%
• 6M: 3.34%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

KHPI

• 1D: 1.47%
• 1M: -4.68%
• YTD: -3.49%
• 6M: -0.79%
• 1Y: 10.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JOYT vs. KHPI - Expense Ratio Comparison

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

KHPI

Kensington Hedged Premium Income ETF

JOYT

JPMorgan Equity And Options Total Return ETF

Return for Risk

JOYT vs. KHPI — Risk / Return Rank

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

KHPI

KHPI Risk / Return Rank: 61
KHPI Sharpe Ratio Rank: 54
KHPI Sortino Ratio Rank: 55
KHPI Omega Ratio Rank: 60
KHPI Calmar Ratio Rank: 64
KHPI Martin Ratio Rank: 71

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.

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

Sharpe Ratios by Period

	JOYT	KHPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.18	0.76	+0.42

Correlation

The correlation between JOYT and KHPI is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

JOYT vs. KHPI - Dividend Comparison

JOYT's dividend yield for the trailing twelve months is around 0.48%, less than KHPI's 9.44% yield.

	TTM	2025	2024
JOYT JPMorgan Equity And Options Total Return ETF	0.48%	0.28%	0.00%
KHPI Kensington Hedged Premium Income ETF	9.44%	8.90%	3.01%

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	-4.76%	-5.18%	+0.42%
Average Drawdown Average peak-to-trough decline	-0.86%	-1.27%	+0.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.46%	—

Volatility

Volatility by Period

	JOYT	KHPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.18%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.25%	—
Volatility (1Y) Calculated over the trailing 1-year period	10.30%	10.96%	-0.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.30%	9.79%	+0.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.30%	9.79%	+0.51%