NFJ vs. JEPAX

Last updated Jun 4, 2026

NFJ (Virtus Dividend, Interest and Premium Strategy Fund) and JEPAX (JPMorgan Equity Premium Income Fund Class A) are both mutual funds - NFJ is a Dividend fund managed by Virtus, while JEPAX is a Derivative Income fund managed by JPMorgan. Over the past 5 years, NFJ returned 9.17%/yr vs 6.87%/yr for JEPAX. A 0.66 correlation means they provide meaningful diversification when combined. NFJ charges 0.02%/yr vs 0.85%/yr for JEPAX.

Performance

NFJ vs. JEPAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Dividend, Interest and Premium Strategy Fund (NFJ) and JPMorgan Equity Premium Income Fund Class A (JEPAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NFJ achieves a 19.07% return, which is significantly higher than JEPAX's -0.08% return.

NFJ

• 1D: -0.53%
• 1M: 5.12%
• YTD: 19.07%
• 6M: 20.29%
• 1Y: 35.91%
• 3Y*: 18.50%
• 5Y*: 9.17%
• 10Y*: 10.39%

JEPAX

• 1D: 0.07%
• 1M: -1.67%
• YTD: -0.08%
• 6M: 0.19%
• 1Y: 7.24%
• 3Y*: 8.38%
• 5Y*: 6.87%
• 10Y*: —

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

NFJ vs. JEPAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
NFJ Virtus Dividend, Interest and Premium Strategy Fund	19.07%	12.40%	9.96%	21.30%	-23.90%	26.75%	12.42%	14.12%
JEPAX JPMorgan Equity Premium Income Fund Class A	-0.08%	7.55%	12.07%	9.42%	-4.05%	19.13%	5.75%	7.45%

Correlation

The correlation between NFJ and JEPAX is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (All Time) Calculated using the full available price history since Mar 29, 2019	0.66

The correlation between NFJ and JEPAX shifts across timeframes, from 0.54 (1 year) to 0.66 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

NFJ vs. JEPAX — Risk / Return Rank

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

NFJ

NFJ Risk / Return Rank: 81
NFJ Sharpe Ratio Rank: 85
NFJ Sortino Ratio Rank: 83
NFJ Omega Ratio Rank: 74
NFJ Calmar Ratio Rank: 86
NFJ Martin Ratio Rank: 76

JEPAX

JEPAX Risk / Return Rank: 11
JEPAX Sharpe Ratio Rank: 11
JEPAX Sortino Ratio Rank: 12
JEPAX Omega Ratio Rank: 11
JEPAX Calmar Ratio Rank: 10
JEPAX Martin Ratio Rank: 11

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.

NFJ vs. JEPAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Dividend, Interest and Premium Strategy Fund (NFJ) and JPMorgan Equity Premium Income Fund Class A (JEPAX). 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.

	NFJ	JEPAX	Difference
Sharpe ratio: Return per unit of total volatility	2.78	0.86	+1.91
Sortino ratio: Return per unit of downside risk	3.97	1.36	+2.61
Omega ratio: Gain probability vs. loss probability	1.49	1.16	+0.32
Calmar ratio: Return relative to maximum drawdown	4.21	1.00	+3.21
Martin ratio: Return relative to average drawdown	14.38	3.29	+11.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NFJ vs. JEPAX - Sharpe Ratio Comparison

The current NFJ Sharpe Ratio is 2.78, which is higher than the JEPAX Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of NFJ and JEPAX, 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

	NFJ	JEPAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.78	0.86	+1.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.60	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.52	-0.21

Drawdowns

NFJ vs. JEPAX - Drawdown Comparison

The maximum NFJ drawdown since its inception was -57.92%, which is greater than JEPAX's maximum drawdown of -32.69%. Use the drawdown chart below to compare losses from any high point for NFJ and JEPAX.

Drawdown Indicators

	NFJ	JEPAX	Difference
Max Drawdown Largest peak-to-trough decline	-57.92%	-32.69%	-25.23%
Max Drawdown (1Y) Largest decline over 1 year	-8.57%	-7.41%	-1.16%
Max Drawdown (3Y) Largest decline over 3 years	-17.04%	-13.43%	-3.61%
Max Drawdown (5Y) Largest decline over 5 years	-30.57%	-13.74%	-16.83%
Max Drawdown (10Y) Largest decline over 10 years	-40.96%	—	—
Current Drawdown Current decline from peak	-0.53%	-5.15%	+4.62%
Average Drawdown Average peak-to-trough decline	-10.79%	-3.08%	-7.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	2.25%	+0.25%

Volatility

NFJ vs. JEPAX - Volatility Comparison

Virtus Dividend, Interest and Premium Strategy Fund (NFJ) has a higher volatility of 3.96% compared to JPMorgan Equity Premium Income Fund Class A (JEPAX) at 1.51%. This indicates that NFJ's price experiences larger fluctuations and is considered to be riskier than JEPAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NFJ	JEPAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	1.51%	+2.45%
Volatility (6M) Calculated over the trailing 6-month period	10.01%	6.85%	+3.16%
Volatility (1Y) Calculated over the trailing 1-year period	13.00%	8.60%	+4.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.13%	11.48%	+5.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.65%	14.93%	+3.72%

NFJ vs. JEPAX - Expense Ratio Comparison

NFJ has a 0.02% expense ratio, which is lower than JEPAX's 0.85% expense ratio.

Dividends

NFJ vs. JEPAX - Dividend Comparison

NFJ's dividend yield for the trailing twelve months is around 8.14%, more than JEPAX's 7.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPAX JPMorgan Equity Premium Income Fund Class A	7.91%	7.88%	6.95%	8.19%	11.98%	5.96%	11.35%	5.61%	0.00%	0.00%	0.00%	0.00%
NFJ Virtus Dividend, Interest and Premium Strategy Fund	8.14%	9.46%	9.26%	7.78%	8.83%	5.60%	6.69%	6.92%	8.43%	8.62%	9.52%	13.32%

Frequently Asked Questions

Can I hold both NFJ and JEPAX in my portfolio?

NFJ and JEPAX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NFJ or JEPAX?

NFJ has higher volatility (3.96%) compared to JEPAX (1.51%). In terms of maximum drawdown, NFJ dropped -57.92% vs JEPAX's -32.69%.

Which has better risk-adjusted returns?

NFJ currently has the higher Sharpe Ratio (2.78 vs 0.86), 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.