JUSA vs. JEPI

Last updated Jun 6, 2026

JUSA (JPMorgan U.S. Research Enhanced Large Cap ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - JUSA 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 year, JUSA returned 24.65% vs 7.86% for JEPI. A 0.69 correlation means they provide meaningful diversification when combined. JUSA charges 0.20%/yr vs 0.35%/yr for JEPI.

Performance

JUSA vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan U.S. Research Enhanced Large Cap ETF (JUSA) 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, JUSA achieves a 7.68% return, which is significantly higher than JEPI's 0.35% return.

JUSA

• 1D: -2.43%
• 1M: -0.02%
• YTD: 7.68%
• 6M: 7.58%
• 1Y: 24.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPI

• 1D: -0.34%
• 1M: -1.01%
• YTD: 0.35%
• 6M: 0.76%
• 1Y: 7.86%
• 3Y*: 9.00%
• 5Y*: 7.30%
• 10Y*: —

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

JUSA vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025
JUSA JPMorgan U.S. Research Enhanced Large Cap ETF	7.68%	21.69%
JEPI JPMorgan Equity Premium Income ETF	0.35%	7.97%

Correlation

The correlation between JUSA and JEPI is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (All Time) Calculated using the full available price history since Mar 17, 2025	0.69

The correlation between JUSA and JEPI has been stable across timeframes, ranging from 0.63 to 0.69 - a consistent structural relationship.

JUSA vs. JEPI - Sectors Allocation Comparison

Sectors	JUSA	JEPI
Technology	35.6%	19.1%
Financial Services	11.7%	9.8%
Consumer Cyclical	11.1%	11.7%
Communication Services	11.0%	6.9%
Healthcare	8.5%	14.1%
Industrials	8.3%	13.8%
Consumer Defensive	4.3%	9.6%
Energy	3.5%	3.5%
Utilities	2.4%	6.2%
Real Estate	1.9%	3.5%
Basic Materials	1.9%	1.9%

Return for Risk

JUSA vs. JEPI — Risk / Return Rank

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

JUSA

JUSA Risk / Return Rank: 66
JUSA Sharpe Ratio Rank: 67
JUSA Sortino Ratio Rank: 65
JUSA Omega Ratio Rank: 67
JUSA Calmar Ratio Rank: 60
JUSA Martin Ratio Rank: 73

JEPI

JEPI Risk / Return Rank: 27
JEPI Sharpe Ratio Rank: 29
JEPI Sortino Ratio Rank: 28
JEPI Omega Ratio Rank: 28
JEPI Calmar Ratio Rank: 25
JEPI Martin Ratio Rank: 27

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.

JUSA vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan U.S. Research Enhanced Large Cap ETF (JUSA) 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.

	JUSA	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	2.05	1.00	+1.05
Sortino ratio: Return per unit of downside risk	2.81	1.49	+1.31
Omega ratio: Gain probability vs. loss probability	1.37	1.18	+0.19
Calmar ratio: Return relative to maximum drawdown	2.77	1.18	+1.59
Martin ratio: Return relative to average drawdown	12.73	3.74	+8.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JUSA vs. JEPI - Sharpe Ratio Comparison

The current JUSA Sharpe Ratio is 2.05, which is higher than the JEPI Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of JUSA 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.

Sharpe Ratios by Period

	JUSA	JEPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.05	1.00	+1.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.66	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.32	1.01	+0.31

Drawdowns

JUSA vs. JEPI - Drawdown Comparison

The maximum JUSA drawdown since its inception was -14.02%, roughly equal to the maximum JEPI drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for JUSA and JEPI.

Drawdown Indicators

	JUSA	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-14.02%	-13.71%	-0.31%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-6.68%	-2.25%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.26%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.71%	—
Current Drawdown Current decline from peak	-2.81%	-4.64%	+1.83%
Average Drawdown Average peak-to-trough decline	-1.51%	-2.12%	+0.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	2.11%	-0.17%

Volatility

JUSA vs. JEPI - Volatility Comparison

JPMorgan U.S. Research Enhanced Large Cap ETF (JUSA) has a higher volatility of 3.53% compared to JPMorgan Equity Premium Income ETF (JEPI) at 1.49%. This indicates that JUSA'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

	JUSA	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	1.49%	+2.04%
Volatility (6M) Calculated over the trailing 6-month period	9.30%	6.08%	+3.22%
Volatility (1Y) Calculated over the trailing 1-year period	12.08%	7.88%	+4.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.79%	11.05%	+7.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.79%	10.79%	+8.00%

JUSA vs. JEPI - Expense Ratio Comparison

JUSA has a 0.20% expense ratio, which is lower than JEPI's 0.35% expense ratio.

Dividends

JUSA vs. JEPI - Dividend Comparison

JUSA's dividend yield for the trailing twelve months is around 0.88%, less than JEPI's 8.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
JEPI JPMorgan Equity Premium Income ETF	8.26%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%
JUSA JPMorgan U.S. Research Enhanced Large Cap ETF	0.88%	0.77%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JUSA and JEPI in my portfolio?

JUSA and JEPI have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JUSA or JEPI?

JUSA has higher volatility (3.53%) compared to JEPI (1.49%). In terms of maximum drawdown, JUSA dropped -14.02% vs JEPI's -13.71%.

Which ETF is better, JUSA or JEPI?

On 1-year performance, JUSA leads with 24.65% vs 7.86% for JEPI. On fees, JUSA is cheaper at 0.20% per year. On volatility, JEPI has been the lower-risk option at 1.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JUSA or JEPI?

Over the 1-year period, JUSA has performed better with a 24.65% return vs 7.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JUSA or JEPI?

JUSA is cheaper with a 0.20% expense ratio, compared with 0.35% for JEPI.

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

JEPI has the higher dividend yield at 8.26%, compared with 0.88% for JUSA.

What is the main difference between JUSA and JEPI?

JUSA is categorized as Large Cap Blend Equities, while JEPI is Dividend. Their fees differ too: 0.20% for JUSA and 0.35% for JEPI.

Which has better risk-adjusted returns?

JUSA currently has the higher Sharpe Ratio (2.05 vs 1.00), 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.