JOYT vs. PEPS

Last updated Jun 5, 2026

JOYT (JPMorgan Equity And Options Total Return ETF) and PEPS (Parametric Equity Plus ETF) are both Derivative Income funds. Both are actively managed. Their correlation of 0.93 suggests significant overlap in exposure. JOYT charges 0.35%/yr vs 0.10%/yr for PEPS.

Performance

JOYT vs. PEPS - Performance Comparison

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

Returns By Period

In the year-to-date period, JOYT achieves a 5.19% return, which is significantly lower than PEPS's 11.10% return.

JOYT

• 1D: 0.10%
• 1M: 2.67%
• YTD: 5.19%
• 6M: 6.94%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PEPS

• 1D: 0.39%
• 1M: 5.83%
• YTD: 11.10%
• 6M: 11.19%
• 1Y: 32.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JOYT vs. PEPS - Yearly Performance Comparison

	2026 (YTD)	2025
JOYT JPMorgan Equity And Options Total Return ETF	5.19%	9.58%
PEPS Parametric Equity Plus ETF	11.10%	9.26%

Correlation

The correlation between JOYT and PEPS is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 20, 2025	0.93

Return for Risk

JOYT vs. PEPS — Risk / Return Rank

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

PEPS

PEPS Risk / Return Rank: 75
PEPS Sharpe Ratio Rank: 78
PEPS Sortino Ratio Rank: 73
PEPS Omega Ratio Rank: 77
PEPS Calmar Ratio Rank: 67
PEPS Martin Ratio Rank: 80

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. PEPS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity And Options Total Return ETF (JOYT) and Parametric Equity Plus ETF (PEPS). 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	PEPS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.47	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.11	1.06	+1.05

Drawdowns

JOYT vs. PEPS - Drawdown Comparison

The maximum JOYT drawdown since its inception was -6.99%, smaller than the maximum PEPS drawdown of -21.26%. Use the drawdown chart below to compare losses from any high point for JOYT and PEPS.

Drawdown Indicators

	JOYT	PEPS	Difference
Max Drawdown Largest peak-to-trough decline	-6.99%	-21.26%	+14.27%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.80%	—
Current Drawdown Current decline from peak	-0.09%	-0.13%	+0.04%
Average Drawdown Average peak-to-trough decline	-0.87%	-2.76%	+1.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.09%	—

Volatility

Volatility by Period

	JOYT	PEPS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.68%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.83%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.36%	13.05%	-3.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.36%	18.28%	-8.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.36%	18.28%	-8.92%

JOYT vs. PEPS - Expense Ratio Comparison

JOYT has a 0.35% expense ratio, which is higher than PEPS's 0.10% expense ratio.

Dividends

JOYT vs. PEPS - Dividend Comparison

JOYT's dividend yield for the trailing twelve months is around 0.45%, less than PEPS's 0.88% yield.

Position	TTM	2025	2024
JOYT JPMorgan Equity And Options Total Return ETF	0.45%	0.28%	0.00%
PEPS Parametric Equity Plus ETF	0.88%	1.00%	0.17%

Frequently Asked Questions

Can I hold both JOYT and PEPS in my portfolio?

With a correlation of 0.93, JOYT and PEPS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, JOYT or PEPS?

On fees, PEPS is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JOYT or PEPS?

PEPS is cheaper with a 0.10% expense ratio, compared with 0.35% for JOYT.

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

PEPS has the higher dividend yield at 0.88%, compared with 0.45% for JOYT.

What is the main difference between JOYT and PEPS?

They also come from different issuers: JPMorgan and Parametric. Their fees differ too: 0.35% for JOYT and 0.10% for PEPS.