JPEQ.AX vs. SPYI
JPEQ.AX (JPMorgan US 100Q Equity Premium Income Active ETF) and SPYI (NEOS S&P 500 High Income ETF) are both Derivative Income funds. Both are actively managed. Over the past 3 years, JPEQ.AX returned 15.67%/yr vs 13.82%/yr for SPYI. At a 0.11 correlation, their price movements are largely independent.
Performance
JPEQ.AX vs. SPYI - Performance Comparison
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Different Trading Currencies
JPEQ.AX is traded in AUD, while SPYI is traded in USD. To make them comparable, the SPYI values have been converted to AUD using the latest available exchange rates.
Returns By Period
In the year-to-date period, JPEQ.AX achieves a 1.25% return, which is significantly lower than SPYI's 1.45% return.
JPEQ.AX
- 1D
- 0.03%
- 1M
- 4.55%
- YTD
- 1.25%
- 6M
- 1.22%
- 1Y
- 14.54%
- 3Y*
- 15.67%
- 5Y*
- —
- 10Y*
- —
SPYI
- 1D
- 0.63%
- 1M
- 4.55%
- YTD
- 1.45%
- 6M
- 0.98%
- 1Y
- 12.46%
- 3Y*
- 13.82%
- 5Y*
- —
- 10Y*
- —
JPEQ.AX vs. SPYI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
JPEQ.AX JPMorgan US 100Q Equity Premium Income Active ETF | 1.25% | 4.62% | 36.45% | 10.03% |
SPYI NEOS S&P 500 High Income ETF | 1.45% | 8.20% | 31.01% | 4.81% |
Correlation
The correlation between JPEQ.AX and SPYI is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since May 24, 2023 | 0.11 |
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Return for Risk
JPEQ.AX vs. SPYI — Risk / Return Rank
JPEQ.AX
SPYI
JPEQ.AX vs. SPYI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan US 100Q Equity Premium Income Active ETF (JPEQ.AX) and NEOS S&P 500 High Income ETF (SPYI). 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.
| JPEQ.AX | SPYI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.28 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 1.33 | +0.17 |
| Martin ratioReturn relative to average drawdown | 4.05 | 3.63 | +0.42 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JPEQ.AX | SPYI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | 1.44 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.09 | 1.23 | -0.13 |
Drawdowns
JPEQ.AX vs. SPYI - Drawdown Comparison
The maximum JPEQ.AX drawdown since its inception was -18.42%, which is greater than SPYI's maximum drawdown of -15.15%. Use the drawdown chart below to compare losses from any high point for JPEQ.AX and SPYI.
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Drawdown Indicators
| JPEQ.AX | SPYI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.42% | -15.15% | -3.27% |
Max Drawdown (1Y)Largest decline over 1 year | -9.59% | -9.38% | -0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -18.42% | -15.15% | -3.27% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -3.03% | -2.29% | -0.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.57% | 3.44% | +0.13% |
Volatility
JPEQ.AX vs. SPYI - Volatility Comparison
JPMorgan US 100Q Equity Premium Income Active ETF (JPEQ.AX) has a higher volatility of 1.55% compared to NEOS S&P 500 High Income ETF (SPYI) at 1.41%. This indicates that JPEQ.AX's price experiences larger fluctuations and is considered to be riskier than SPYI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPEQ.AX | SPYI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.55% | 1.41% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 8.37% | 6.60% | +1.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.96% | 8.68% | +2.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.04% | 11.95% | +3.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.04% | 11.95% | +3.09% |
Dividends
JPEQ.AX vs. SPYI - Dividend Comparison
JPEQ.AX's dividend yield for the trailing twelve months is around 8.92%, less than SPYI's 11.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
JPEQ.AX JPMorgan US 100Q Equity Premium Income Active ETF | 8.92% | 9.00% | 7.40% | 4.88% | 0.00% |
SPYI NEOS S&P 500 High Income ETF | 11.60% | 11.70% | 12.04% | 12.01% | 4.10% |
Frequently Asked Questions
JPEQ.AX and SPYI have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: JPMorgan and Neos.
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