OPER vs. JEPI
OPER (ClearShares Ultra-Short Maturity ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - OPER is a Ultrashort Bond fund tracking the ICE BofA U.S. Broad Market Index, while JEPI is a Dividend fund actively managed by JPMorgan. OPER is passively managed, while JEPI is actively managed. Over the past 5 years, OPER returned 3.65%/yr vs 7.26%/yr for JEPI. At a correlation of -0.01, they often move in opposite directions. OPER charges 0.20%/yr vs 0.35%/yr for JEPI.
Performance
OPER vs. JEPI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, OPER achieves a 1.55% return, which is significantly higher than JEPI's 0.15% return.
OPER
- 1D
- 0.01%
- 1M
- 0.34%
- YTD
- 1.55%
- 6M
- 1.88%
- 1Y
- 4.07%
- 3Y*
- 4.80%
- 5Y*
- 3.65%
- 10Y*
- —
JEPI
- 1D
- 0.14%
- 1M
- -1.54%
- YTD
- 0.15%
- 6M
- 0.47%
- 1Y
- 7.70%
- 3Y*
- 8.88%
- 5Y*
- 7.26%
- 10Y*
- —
OPER vs. JEPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
OPER ClearShares Ultra-Short Maturity ETF | 1.55% | 4.37% | 5.34% | 5.09% | 1.76% | 0.37% | 0.29% |
JEPI JPMorgan Equity Premium Income ETF | 0.15% | 8.09% | 12.57% | 9.83% | -3.49% | 21.52% | 18.61% |
Correlation
The correlation between OPER and JEPI is 0.03, 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 | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since May 22, 2020 | -0.01 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
OPER vs. JEPI — Risk / Return Rank
OPER
JEPI
OPER vs. JEPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ClearShares Ultra-Short Maturity ETF (OPER) 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.
| OPER | JEPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +14.46 | ||
| Sortino ratioReturn per unit of downside risk | +42.43 | ||
| Omega ratioGain probability vs. loss probability | 13.38 | 1.18 | +12.20 |
| Calmar ratioReturn relative to maximum drawdown | 61.29 | 1.16 | +60.13 |
| Martin ratioReturn relative to average drawdown | 519.55 | 3.73 | +515.81 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| OPER | JEPI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 15.45 | 0.99 | +14.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 11.47 | 0.66 | +10.81 |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.28 | 1.01 | +1.27 |
Drawdowns
OPER vs. JEPI - Drawdown Comparison
The maximum OPER drawdown since its inception was -2.33%, smaller than the maximum JEPI drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for OPER and JEPI.
Loading charts...
Drawdown Indicators
| OPER | JEPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.33% | -13.71% | +11.38% |
Max Drawdown (1Y)Largest decline over 1 year | -0.07% | -6.68% | +6.61% |
Max Drawdown (3Y)Largest decline over 3 years | -0.11% | -13.26% | +13.15% |
Max Drawdown (5Y)Largest decline over 5 years | -0.13% | -13.71% | +13.58% |
Current DrawdownCurrent decline from peak | 0.00% | -4.83% | +4.83% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -2.12% | +1.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 2.07% | -2.06% |
Volatility
OPER vs. JEPI - Volatility Comparison
The current volatility for ClearShares Ultra-Short Maturity ETF (OPER) is 0.10%, while JPMorgan Equity Premium Income ETF (JEPI) has a volatility of 1.35%. This indicates that OPER experiences smaller price fluctuations and is considered to be less risky than JEPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| OPER | JEPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.10% | 1.35% | -1.25% |
Volatility (6M)Calculated over the trailing 6-month period | 0.20% | 6.07% | -5.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.26% | 7.85% | -7.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.32% | 11.06% | -10.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.23% | 10.80% | -9.57% |
OPER vs. JEPI - Expense Ratio Comparison
OPER has a 0.20% expense ratio, which is lower than JEPI's 0.35% expense ratio.
Dividends
OPER vs. JEPI - Dividend Comparison
OPER's dividend yield for the trailing twelve months is around 4.09%, less than JEPI's 8.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
JEPI JPMorgan Equity Premium Income ETF | 8.27% | 8.25% | 7.33% | 8.40% | 11.68% | 6.59% | 5.79% | 0.00% | 0.00% |
OPER ClearShares Ultra-Short Maturity ETF | 4.09% | 4.32% | 5.21% | 5.03% | 1.71% | 0.36% | 0.64% | 2.08% | 0.89% |
Frequently Asked Questions
OPER and JEPI have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JEPI has higher volatility (1.35%) compared to OPER (0.10%). In terms of maximum drawdown, OPER dropped -2.33% vs JEPI's -13.71%.
On 5-year performance, JEPI leads with 7.26% vs 3.65% for OPER. On fees, OPER is cheaper at 0.20% per year. On volatility, OPER has been the lower-risk option at 0.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JEPI has performed better with a 7.26% return vs 3.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OPER is cheaper with a 0.20% expense ratio, compared with 0.35% for JEPI.
JEPI has the higher dividend yield at 8.27%, compared with 4.09% for OPER.
OPER is categorized as Ultrashort Bond, while JEPI is Dividend. They also come from different issuers: ClearShares and JPMorgan. Their fees differ too: 0.20% for OPER and 0.35% for JEPI.
OPER currently has the higher Sharpe Ratio (15.45 vs 0.99), 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.
Find the right allocation for OPER and JEPI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer