JPAS.L vs. JEPI.L
JPAS.L (JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active ETF USD Acc) and JEPI.L (JPMorgan US Equity Premium Income Active UCITS ETF USD (Dist)) are both exchange-traded funds - JPAS.L is a Dividend fund actively managed by JPMorgan, while JEPI.L is a Derivative Income fund actively managed by JPMorgan. Both are actively managed. Over the past year, JPAS.L returned 3.51% vs 9.55% for JEPI.L. At a 0.30 correlation, their price movements are largely independent. JPAS.L charges 0.18%/yr vs 0.35%/yr for JEPI.L.
Performance
JPAS.L vs. JEPI.L - Performance Comparison
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Different Trading Currencies
JPAS.L is traded in GBP, while JEPI.L is traded in USD. To make them comparable, the JEPI.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, JPAS.L achieves a 1.52% return, which is significantly lower than JEPI.L's 3.43% return.
JPAS.L
- 1D
- -0.62%
- 1M
- -0.14%
- 6M
- 1.35%
- YTD
- 1.52%
- 1Y
- 3.51%
- 3Y*
- 4.11%
- 5Y*
- 4.11%
- 10Y*
- —
JEPI.L
- 1D
- 0.00%
- 1M
- 1.40%
- 6M
- 1.71%
- YTD
- 3.43%
- 1Y
- 9.55%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
JPAS.L vs. JEPI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
JPAS.L JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active ETF USD Acc | 1.52% | -2.07% | 4.32% |
JEPI.L JPMorgan US Equity Premium Income Active UCITS ETF USD (Dist) | 3.43% | 0.41% | 3.60% |
Correlation
The correlation between JPAS.L and JEPI.L is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2024 | 0.30 |
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Return for Risk
JPAS.L vs. JEPI.L — Risk / Return Rank
JPAS.L
JEPI.L
JPAS.L vs. JEPI.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active ETF USD Acc (JPAS.L) and JPMorgan US Equity Premium Income Active UCITS ETF USD (Dist) (JEPI.L). 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.
| JPAS.L | JEPI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.17 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | 1.75 | -0.95 |
| Martin ratioReturn relative to average drawdown | 2.05 | 4.53 | -2.48 |
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Drawdowns
JPAS.L vs. JEPI.L - Drawdown Comparison
The maximum JPAS.L drawdown since its inception was -26.18%, which is greater than JEPI.L's maximum drawdown of -16.18%. Use the drawdown chart below to compare losses from any high point for JPAS.L and JEPI.L.
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Drawdown Indicators
| JPAS.L | JEPI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.18% | -16.18% | -10.00% |
Max Drawdown (1Y)Largest decline over 1 year | -4.36% | -5.44% | +1.08% |
Max Drawdown (3Y)Largest decline over 3 years | -9.32% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.31% | — | — |
Current DrawdownCurrent decline from peak | -6.97% | -1.22% | -5.75% |
Average DrawdownAverage peak-to-trough decline | -14.97% | -4.93% | -10.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.71% | 2.11% | -0.40% |
Volatility
JPAS.L vs. JEPI.L - Volatility Comparison
The current volatility for JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active ETF USD Acc (JPAS.L) is 1.77%, while JPMorgan US Equity Premium Income Active UCITS ETF USD (Dist) (JEPI.L) has a volatility of 2.81%. This indicates that JPAS.L experiences smaller price fluctuations and is considered to be less risky than JEPI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPAS.L | JEPI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 2.81% | -1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 4.71% | 7.60% | -2.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.37% | 9.67% | -3.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.32% | 12.31% | -3.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.24% | 12.31% | -0.07% |
JPAS.L vs. JEPI.L - Expense Ratio Comparison
JPAS.L has a 0.18% expense ratio, which is lower than JEPI.L's 0.35% expense ratio.
Dividends
JPAS.L vs. JEPI.L - Dividend Comparison
JPAS.L has not paid dividends to shareholders, while JEPI.L's dividend yield for the trailing twelve months is around 7.70%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
JEPI.L JPMorgan US Equity Premium Income Active UCITS ETF USD (Dist) | 7.70% | 7.08% | 0.62% |
JPAS.L JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active ETF USD Acc | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JPAS.L and JEPI.L have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JPAS.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JPAS.L is cheaper with a 0.18% expense ratio, compared with 0.35% for JEPI.L.
JPAS.L is categorized as Dividend, while JEPI.L is Derivative Income. Their fees differ too: 0.18% for JPAS.L and 0.35% for JEPI.L.
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