MMLP vs. JEPI

Last updated Jun 25, 2026

MMLP (Martin Midstream Partners L.P.) is a stock, while JEPI (JPMorgan Equity Premium Income ETF) is Dividend fund actively managed by JPMorgan. Over the past 5 years, MMLP returned -2.73%/yr vs 7.28%/yr for JEPI. At a 0.09 correlation, their price movements are largely independent.

Performance

MMLP vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Martin Midstream Partners L.P. (MMLP) 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, MMLP achieves a -11.93% return, which is significantly lower than JEPI's 1.33% return.

MMLP

• 1D: 5.05%
• 1M: -8.76%
• YTD: -11.93%
• 6M: -12.27%
• 1Y: -24.12%
• 3Y*: 4.49%
• 5Y*: -2.73%
• 10Y*: -15.82%

JEPI

• 1D: 0.41%
• 1M: 0.22%
• YTD: 1.33%
• 6M: 0.79%
• 1Y: 7.37%
• 3Y*: 9.13%
• 5Y*: 7.28%
• 10Y*: —

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

MMLP vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MMLP Martin Midstream Partners L.P.	-11.93%	-26.82%	50.60%	-19.38%	13.38%	87.58%	-47.68%
JEPI JPMorgan Equity Premium Income ETF	1.33%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.39%

Correlation

The correlation between MMLP and JEPI is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (All Time) Calculated using the full available price history since May 21, 2020	0.09

The correlation between MMLP and JEPI shifts across timeframes, from -0.01 (1 year) to 0.12 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

MMLP vs. JEPI — Risk / Return Rank

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

MMLP

MMLP Risk / Return Rank: 22
MMLP Sharpe Ratio Rank: 24
MMLP Sortino Ratio Rank: 25
MMLP Omega Ratio Rank: 26
MMLP Calmar Ratio Rank: 19
MMLP Martin Ratio Rank: 15

JEPI

JEPI Risk / Return Rank: 26
JEPI Sharpe Ratio Rank: 28
JEPI Sortino Ratio Rank: 27
JEPI Omega Ratio Rank: 26
JEPI Calmar Ratio Rank: 25
JEPI Martin Ratio Rank: 26

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.

MMLP vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Martin Midstream Partners L.P. (MMLP) 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.

	MMLP	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	-0.43	0.93	-1.36
Sortino ratio: Return per unit of downside risk	-0.29	1.38	-1.67
Omega ratio: Gain probability vs. loss probability	0.96	1.17	-0.21
Calmar ratio: Return relative to maximum drawdown	-0.64	1.11	-1.75
Martin ratio: Return relative to average drawdown	-1.21	3.25	-4.46

MMLP vs. JEPI - Sharpe Ratio Comparison

The current MMLP Sharpe Ratio is -0.43, which is lower than the JEPI Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of MMLP 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

MMLP vs. JEPI - Drawdown Comparison

The maximum MMLP drawdown since its inception was -95.75%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for MMLP and JEPI.

Drawdown Indicators

	MMLP	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-95.75%	-13.71%	-82.04%
Max Drawdown (1Y) Largest decline over 1 year	-37.87%	-6.68%	-31.19%
Max Drawdown (3Y) Largest decline over 3 years	-46.22%	-13.26%	-32.96%
Max Drawdown (5Y) Largest decline over 5 years	-64.19%	-13.71%	-50.48%
Max Drawdown (10Y) Largest decline over 10 years	-93.82%	—	—
Current Drawdown Current decline from peak	-88.87%	-3.71%	-85.16%
Average Drawdown Average peak-to-trough decline	-39.30%	-2.13%	-37.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.94%	2.27%	+17.67%

Volatility

MMLP vs. JEPI - Volatility Comparison

Martin Midstream Partners L.P. (MMLP) has a higher volatility of 23.73% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.38%. This indicates that MMLP'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

	MMLP	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.73%	2.38%	+21.35%
Volatility (6M) Calculated over the trailing 6-month period	45.52%	6.30%	+39.22%
Volatility (1Y) Calculated over the trailing 1-year period	56.21%	8.02%	+48.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.37%	11.08%	+42.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	65.01%	10.78%	+54.23%

Dividends

MMLP vs. JEPI - Dividend Comparison

MMLP's dividend yield for the trailing twelve months is around 0.87%, 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%
MMLP Martin Midstream Partners L.P.	0.87%	0.77%	0.56%	0.83%	0.67%	0.75%	9.44%	31.02%	19.46%	14.29%	16.01%	14.98%

Frequently Asked Questions

Can I hold both MMLP and JEPI in my portfolio?

MMLP and JEPI have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MMLP or JEPI?

MMLP has higher volatility (23.73%) compared to JEPI (2.38%). In terms of maximum drawdown, MMLP dropped -95.75% vs JEPI's -13.71%.

Which has better risk-adjusted returns?

JEPI currently has the higher Sharpe Ratio (0.93 vs -0.43), 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.