JPEF vs. JEPI

Last updated Aug 2, 2026

JPEF (JPMorgan Equity Focus ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - JPEF is a Large Cap Blend Equities fund actively managed by JPMorgan, while JEPI is a Dividend fund actively managed by JPMorgan. Both are actively managed. Over the past 3 years, JPEF returned 17.71%/yr vs 9.21%/yr for JEPI. Their 0.73 correlation means they have sometimes moved together and sometimes differently. JPEF charges 0.50%/yr vs 0.35%/yr for JEPI.

Performance

JPEF vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Focus ETF (JPEF) 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, JPEF achieves a 7.28% return, which is significantly higher than JEPI's 4.52% return.

JPEF

• 1D: 1.05%
• 1M: 0.24%
• 6M: 5.98%
• YTD: 7.28%
• 1Y: 15.49%
• 3Y*: 17.71%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.66%

JEPI

• 1D: 0.33%
• 1M: 1.27%
• 6M: 2.16%
• YTD: 4.52%
• 1Y: 11.16%
• 3Y*: 9.21%
• 5Y*: 7.40%
• 10Y*: —
• ALL TIME*: 11.29%

*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	$260.98M	$260.42M	$297.70M
JPEF JPMorgan Equity Focus ETF	$8.69M	$8.49M	$7.43M

JPEF vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JPEF JPMorgan Equity Focus ETF	7.28%	12.07%	28.19%	5.70%
JEPI JPMorgan Equity Premium Income ETF	4.52%	8.09%	12.57%	2.50%

Correlation

The correlation between JPEF and JEPI is 0.60, 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.	0.61
Correlation (3Y) Balances recent behavior with more history.	0.73
Correlation (All Time) Calculated using the full available price history since Jul 31, 2023	0.73

The correlation between JPEF and JEPI shifts across timeframes, from 0.60 (1 year) to 0.73 (3 years), reflecting how their relationship changes across market environments.

JPEF vs. JEPI - Sectors Allocation Comparison

Sectors	JPEF	JEPI
Technology	34.7%	15.4%
Financial Services	13.6%	8.9%
Consumer Cyclical	9.9%	9.8%
Industrials	9.1%	11.2%
Communication Services	8.5%	6.1%
Healthcare	8.5%	12.9%
Energy	5.1%	2.6%
Real Estate	2.6%	2.6%
Utilities	2.6%	4.9%
Basic Materials	2.2%	1.6%
Consumer Defensive	1.7%	7.7%

Return for Risk

JPEF vs. JEPI — Risk / Return Rank

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

JPEF

JPEF Risk / Return Rank: 47
JPEF Sharpe Ratio Rank: 44
JPEF Sortino Ratio Rank: 43
JPEF Omega Ratio Rank: 43
JPEF Calmar Ratio Rank: 46
JPEF Martin Ratio Rank: 57

JEPI

JEPI Risk / Return Rank: 48
JEPI Sharpe Ratio Rank: 52
JEPI Sortino Ratio Rank: 53
JEPI Omega Ratio Rank: 52
JEPI Calmar Ratio Rank: 43
JEPI Martin Ratio Rank: 41

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.

JPEF vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Focus ETF (JPEF) 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.

	JPEF	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	1.09	1.25	-0.17
Sortino ratio: Return per unit of downside risk	1.58	1.85	-0.27
Omega ratio: Gain probability vs. loss probability	1.20	1.23	-0.03
Calmar ratio: Return relative to maximum drawdown	1.65	1.52	+0.12
Martin ratio: Return relative to average drawdown	6.78	4.32	+2.46

JPEF vs. JEPI - Sharpe Ratio Comparison

The current JPEF Sharpe Ratio is 1.09, which is comparable to the JEPI Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of JPEF 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

JPEF vs. JEPI - Drawdown Comparison

The maximum JPEF drawdown since its inception was -18.09%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for JPEF and JEPI.

Drawdown Indicators

	JPEF	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-18.09%	-13.71%	-4.38%
Max Drawdown (1Y) Largest decline over 1 year	-8.25%	-6.68%	-1.57%
Max Drawdown (3Y) Largest decline over 3 years	-18.09%	-13.26%	-4.83%
Max Drawdown (5Y) Largest decline over 5 years	—	-13.71%	—
Current Drawdown Current decline from peak	-1.36%	-0.68%	-0.68%
Average Drawdown Average peak-to-trough decline	-2.13%	-2.13%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	2.36%	-0.36%

Volatility

JPEF vs. JEPI - Volatility Comparison

JPMorgan Equity Focus ETF (JPEF) has a higher volatility of 3.96% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.38%. This indicates that JPEF'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

	JPEF	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	2.38%	+1.58%
Volatility (6M) Calculated over the trailing 6-month period	9.89%	6.37%	+3.52%
Volatility (1Y) Calculated over the trailing 1-year period	12.52%	8.15%	+4.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.02%	11.10%	+3.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.02%	10.73%	+4.29%

JPEF vs. JEPI - Expense Ratio Comparison

JPEF has a 0.50% expense ratio, which is higher than JEPI's 0.35% expense ratio.

Dividends

JPEF vs. JEPI - Dividend Comparison

JPEF's dividend yield for the trailing twelve months is around 0.65%, less than JEPI's 7.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
JEPI JPMorgan Equity Premium Income ETF	7.34%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%
JPEF JPMorgan Equity Focus ETF	0.65%	0.70%	0.71%	0.39%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JPEF and JEPI in my portfolio?

JPEF and JEPI have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPEF or JEPI?

JPEF has higher volatility (3.96%) compared to JEPI (2.38%). In terms of maximum drawdown, JPEF dropped -18.09% vs JEPI's -13.71%.

Which ETF is better, JPEF or JEPI?

On 3-year performance, JPEF leads with 17.71% vs 9.21% for JEPI. On fees, JEPI is cheaper at 0.35% per year. On volatility, JEPI has been the lower-risk option at 2.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPEF or JEPI?

Over the 3-year period, JPEF has performed better with a 17.71% return vs 9.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPEF or JEPI?

JEPI is cheaper with a 0.35% expense ratio, compared with 0.50% for JPEF.

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

JEPI has the higher dividend yield at 7.34%, compared with 0.65% for JPEF.

What is the main difference between JPEF and JEPI?

JPEF is categorized as Large Cap Blend Equities, while JEPI is Dividend. Their fees differ too: 0.50% for JPEF and 0.35% for JEPI.

Which has better risk-adjusted returns?

JEPI currently has the higher Sharpe Ratio (1.25 vs 1.09), 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.