MGK vs. JEPI

Last updated Jun 14, 2026

MGK (Vanguard Mega Cap Growth ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - MGK is a Large Cap Growth Equities fund tracking the CRSP US Mega Cap Growth Index, while JEPI is a Dividend fund actively managed by JPMorgan. MGK is passively managed, while JEPI is actively managed. Over the past 5 years, MGK returned 14.87%/yr vs 7.45%/yr for JEPI. A 0.62 correlation means they provide meaningful diversification when combined. MGK charges 0.05%/yr vs 0.35%/yr for JEPI.

Performance

MGK vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Mega Cap Growth ETF (MGK) 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, MGK achieves a 5.33% return, which is significantly higher than JEPI's 1.29% return.

MGK

• 1D: 0.22%
• 1M: -1.87%
• YTD: 5.33%
• 6M: 6.21%
• 1Y: 24.77%
• 3Y*: 24.17%
• 5Y*: 14.87%
• 10Y*: 18.85%

JEPI

• 1D: 0.43%
• 1M: 0.97%
• YTD: 1.29%
• 6M: 1.18%
• 1Y: 8.34%
• 3Y*: 9.13%
• 5Y*: 7.45%
• 10Y*: —

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

MGK vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MGK Vanguard Mega Cap Growth ETF	5.33%	20.67%	32.94%	51.67%	-33.59%	28.58%	33.20%
JEPI JPMorgan Equity Premium Income ETF	1.29%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.39%

Correlation

The correlation between MGK and JEPI is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (All Time) Calculated using the full available price history since May 21, 2020	0.62

Over the past year, the correlation between MGK and JEPI has dropped to 0.37 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.

MGK vs. JEPI - Sectors Allocation Comparison

Sectors	MGK	JEPI
Technology	56.1%	14.5%
Communication Services	17.3%	6.2%
Consumer Cyclical	12.8%	10.1%
Healthcare	4.5%	12.0%
Financial Services	4.5%	7.4%
Real Estate	1.3%	2.9%
Utilities	1.2%	4.7%
Industrials	1.1%	9.5%
Basic Materials	0.7%	1.6%
Consumer Defensive	0.4%	8.1%
Energy	-	2.7%

Return for Risk

MGK vs. JEPI — Risk / Return Rank

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

MGK

MGK Risk / Return Rank: 39
MGK Sharpe Ratio Rank: 44
MGK Sortino Ratio Rank: 42
MGK Omega Ratio Rank: 42
MGK Calmar Ratio Rank: 31
MGK Martin Ratio Rank: 35

JEPI

JEPI Risk / Return Rank: 28
JEPI Sharpe Ratio Rank: 30
JEPI Sortino Ratio Rank: 29
JEPI Omega Ratio Rank: 28
JEPI Calmar Ratio Rank: 27
JEPI Martin Ratio Rank: 28

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.

MGK vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Mega Cap Growth ETF (MGK) 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.

	MGK	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	1.37	0.95	+0.42
Sortino ratio: Return per unit of downside risk	1.89	1.42	+0.47
Omega ratio: Gain probability vs. loss probability	1.24	1.17	+0.07
Calmar ratio: Return relative to maximum drawdown	1.37	1.14	+0.24
Martin ratio: Return relative to average drawdown	4.65	3.46	+1.19

MGK vs. JEPI - Sharpe Ratio Comparison

The current MGK Sharpe Ratio is 1.37, which is higher than the JEPI Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of MGK 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

MGK vs. JEPI - Drawdown Comparison

The maximum MGK drawdown since its inception was -48.43%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for MGK and JEPI.

Drawdown Indicators

	MGK	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-48.43%	-13.71%	-34.72%
Max Drawdown (1Y) Largest decline over 1 year	-16.85%	-6.68%	-10.17%
Max Drawdown (3Y) Largest decline over 3 years	-23.36%	-13.26%	-10.10%
Max Drawdown (5Y) Largest decline over 5 years	-36.01%	-13.71%	-22.30%
Max Drawdown (10Y) Largest decline over 10 years	-36.01%	—	—
Current Drawdown Current decline from peak	-5.63%	-3.75%	-1.88%
Average Drawdown Average peak-to-trough decline	-7.58%	-2.13%	-5.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.97%	2.20%	+2.77%

Volatility

MGK vs. JEPI - Volatility Comparison

Vanguard Mega Cap Growth ETF (MGK) has a higher volatility of 5.96% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.05%. This indicates that MGK'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

	MGK	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.96%	2.05%	+3.91%
Volatility (6M) Calculated over the trailing 6-month period	13.29%	6.23%	+7.06%
Volatility (1Y) Calculated over the trailing 1-year period	16.87%	8.02%	+8.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.72%	11.08%	+11.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.93%	10.79%	+11.14%

MGK vs. JEPI - Expense Ratio Comparison

MGK has a 0.05% expense ratio, which is lower than JEPI's 0.35% expense ratio.

Dividends

MGK vs. JEPI - Dividend Comparison

MGK's dividend yield for the trailing twelve months is around 0.33%, less than JEPI's 8.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPI JPMorgan Equity Premium Income ETF	8.18%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%	0.00%	0.00%	0.00%	0.00%
MGK Vanguard Mega Cap Growth ETF	0.33%	0.35%	0.43%	0.50%	0.70%	0.41%	0.65%	0.85%	1.12%	1.23%	1.53%	1.43%

Frequently Asked Questions

Can I hold both MGK and JEPI in my portfolio?

MGK and JEPI have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MGK or JEPI?

MGK has higher volatility (5.96%) compared to JEPI (2.05%). In terms of maximum drawdown, MGK dropped -48.43% vs JEPI's -13.71%.

Which ETF is better, MGK or JEPI?

On 5-year performance, MGK leads with 14.87% vs 7.45% for JEPI. On fees, MGK is cheaper at 0.05% per year. On volatility, JEPI has been the lower-risk option at 2.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MGK or JEPI?

Over the 5-year period, MGK has performed better with a 14.87% return vs 7.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MGK or JEPI?

MGK is cheaper with a 0.05% expense ratio, compared with 0.35% for JEPI.

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

JEPI has the higher dividend yield at 8.18%, compared with 0.33% for MGK.

What is the main difference between MGK and JEPI?

MGK is categorized as Large Cap Growth Equities, while JEPI is Dividend. They also come from different issuers: Vanguard and JPMorgan. Their fees differ too: 0.05% for MGK and 0.35% for JEPI.

Which has better risk-adjusted returns?

MGK currently has the higher Sharpe Ratio (1.37 vs 0.95), 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.