MLPA vs. JEPI

Last updated Jun 5, 2026

MLPA (Global X MLP ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - MLPA is a MLPs fund tracking the Solactive MLP Infrastructure Index, while JEPI is a Dividend fund actively managed by JPMorgan. MLPA is passively managed, while JEPI is actively managed. Over the past 5 years, MLPA returned 15.86%/yr vs 7.37%/yr for JEPI. At a 0.37 correlation, their price movements are largely independent. MLPA charges 0.46%/yr vs 0.35%/yr for JEPI.

Performance

MLPA vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MLP ETF (MLPA) 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, MLPA achieves a 17.49% return, which is significantly higher than JEPI's 0.69% return.

MLPA

• 1D: 1.22%
• 1M: 0.72%
• YTD: 17.49%
• 6M: 14.69%
• 1Y: 19.63%
• 3Y*: 17.58%
• 5Y*: 15.86%
• 10Y*: 6.12%

JEPI

• 1D: 0.54%
• 1M: -0.71%
• YTD: 0.69%
• 6M: 1.05%
• 1Y: 8.25%
• 3Y*: 9.05%
• 5Y*: 7.37%
• 10Y*: —

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

MLPA vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MLPA Global X MLP ETF	17.49%	5.73%	20.35%	15.93%	27.03%	39.64%	2.45%
JEPI JPMorgan Equity Premium Income ETF	0.69%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.61%

Correlation

The correlation between MLPA and JEPI is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (All Time) Calculated using the full available price history since May 22, 2020	0.37

The correlation between MLPA and JEPI shifts across timeframes, from 0.21 (1 year) to 0.39 (5 years), reflecting how their relationship changes across market environments.

MLPA vs. JEPI - Sectors Allocation Comparison

Sectors	MLPA	JEPI
Energy	96.9%	3.5%
Utilities	3.1%	6.2%
Basic Materials	-	1.9%
Communication Services	-	6.9%
Consumer Cyclical	-	11.7%
Consumer Defensive	-	9.6%
Financial Services	-	9.8%
Healthcare	-	14.1%
Industrials	-	13.8%
Real Estate	-	3.5%
Technology	-	19.1%

Return for Risk

MLPA vs. JEPI — Risk / Return Rank

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

MLPA

MLPA Risk / Return Rank: 47
MLPA Sharpe Ratio Rank: 49
MLPA Sortino Ratio Rank: 48
MLPA Omega Ratio Rank: 45
MLPA Calmar Ratio Rank: 49
MLPA Martin Ratio Rank: 45

JEPI

JEPI Risk / Return Rank: 29
JEPI Sharpe Ratio Rank: 30
JEPI Sortino Ratio Rank: 30
JEPI Omega Ratio Rank: 30
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.

MLPA vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MLP ETF (MLPA) 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.

	MLPA	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	1.66	1.05	+0.61
Sortino ratio: Return per unit of downside risk	2.35	1.57	+0.78
Omega ratio: Gain probability vs. loss probability	1.28	1.19	+0.09
Calmar ratio: Return relative to maximum drawdown	2.37	1.24	+1.13
Martin ratio: Return relative to average drawdown	7.19	3.96	+3.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MLPA vs. JEPI - Sharpe Ratio Comparison

The current MLPA Sharpe Ratio is 1.66, which is higher than the JEPI Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of MLPA 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

	MLPA	JEPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.66	1.05	+0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	0.67	+0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	1.02	-0.85

Drawdowns

MLPA vs. JEPI - Drawdown Comparison

The maximum MLPA drawdown since its inception was -78.75%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for MLPA and JEPI.

Drawdown Indicators

	MLPA	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-78.75%	-13.71%	-65.04%
Max Drawdown (1Y) Largest decline over 1 year	-8.33%	-6.68%	-1.65%
Max Drawdown (3Y) Largest decline over 3 years	-14.20%	-13.26%	-0.94%
Max Drawdown (5Y) Largest decline over 5 years	-18.75%	-13.71%	-5.04%
Max Drawdown (10Y) Largest decline over 10 years	-74.05%	—	—
Current Drawdown Current decline from peak	-2.67%	-4.31%	+1.64%
Average Drawdown Average peak-to-trough decline	-20.27%	-2.12%	-18.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	2.08%	+0.66%

Volatility

MLPA vs. JEPI - Volatility Comparison

Global X MLP ETF (MLPA) has a higher volatility of 4.67% compared to JPMorgan Equity Premium Income ETF (JEPI) at 1.46%. This indicates that MLPA'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

	MLPA	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.67%	1.46%	+3.21%
Volatility (6M) Calculated over the trailing 6-month period	8.47%	6.10%	+2.37%
Volatility (1Y) Calculated over the trailing 1-year period	11.98%	7.87%	+4.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.22%	11.06%	+7.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.47%	10.80%	+16.67%

MLPA vs. JEPI - Expense Ratio Comparison

MLPA has a 0.46% expense ratio, which is higher than JEPI's 0.35% expense ratio.

Dividends

MLPA vs. JEPI - Dividend Comparison

MLPA's dividend yield for the trailing twelve months is around 7.19%, less than JEPI's 8.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPI JPMorgan Equity Premium Income ETF	8.23%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%	0.00%	0.00%	0.00%	0.00%
MLPA Global X MLP ETF	7.19%	7.82%	7.25%	7.49%	7.30%	8.72%	13.84%	9.09%	10.00%	8.05%	7.15%	9.29%

Frequently Asked Questions

Can I hold both MLPA and JEPI in my portfolio?

MLPA and JEPI have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MLPA or JEPI?

MLPA has higher volatility (4.67%) compared to JEPI (1.46%). In terms of maximum drawdown, MLPA dropped -78.75% vs JEPI's -13.71%.

Which ETF is better, MLPA or JEPI?

On 5-year performance, MLPA leads with 15.86% vs 7.37% for JEPI. On fees, JEPI is cheaper at 0.35% per year. On volatility, JEPI has been the lower-risk option at 1.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MLPA or JEPI?

Over the 5-year period, MLPA has performed better with a 15.86% return vs 7.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MLPA or JEPI?

JEPI is cheaper with a 0.35% expense ratio, compared with 0.46% for MLPA.

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

JEPI has the higher dividend yield at 8.23%, compared with 7.19% for MLPA.

What is the main difference between MLPA and JEPI?

MLPA is categorized as MLPs, while JEPI is Dividend. They also come from different issuers: Global X and JPMorgan. Their fees differ too: 0.46% for MLPA and 0.35% for JEPI.

Which has better risk-adjusted returns?

MLPA currently has the higher Sharpe Ratio (1.66 vs 1.05), 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.