OUSA vs. JEPI

Last updated Jun 23, 2026

OUSA (OShares U.S. Quality Dividend ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - OUSA is a Large Cap Growth Equities fund tracking the O'Shares US Quality Dividend Index, while JEPI is a Dividend fund actively managed by JPMorgan. OUSA is passively managed, while JEPI is actively managed. Over the past 5 years, OUSA returned 8.66%/yr vs 7.51%/yr for JEPI. Their correlation of 0.90 suggests significant overlap in exposure. OUSA charges 0.48%/yr vs 0.35%/yr for JEPI.

Performance

OUSA vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in OShares U.S. Quality Dividend ETF (OUSA) 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, OUSA achieves a 0.34% return, which is significantly lower than JEPI's 1.34% return.

OUSA

• 1D: -0.48%
• 1M: -2.46%
• YTD: 0.34%
• 6M: -0.10%
• 1Y: 11.47%
• 3Y*: 11.88%
• 5Y*: 8.66%
• 10Y*: 10.18%

JEPI

• 1D: -0.05%
• 1M: 0.23%
• YTD: 1.34%
• 6M: 1.18%
• 1Y: 8.97%
• 3Y*: 9.13%
• 5Y*: 7.51%
• 10Y*: —

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

OUSA vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
OUSA OShares U.S. Quality Dividend ETF	0.34%	10.23%	17.09%	13.44%	-9.33%	23.75%	20.33%
JEPI JPMorgan Equity Premium Income ETF	1.34%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.39%

Correlation

The correlation between OUSA and JEPI is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since May 21, 2020	0.90

The correlation between OUSA and JEPI has been stable across timeframes, ranging from 0.85 to 0.90 - a consistent structural relationship.

OUSA vs. JEPI - Sectors Allocation Comparison

Sectors	OUSA	JEPI
Technology	26.1%	15.3%
Financial Services	18.0%	7.2%
Healthcare	13.8%	11.6%
Consumer Cyclical	12.7%	10.0%
Industrials	11.2%	9.7%
Communication Services	10.9%	6.3%
Consumer Defensive	7.3%	7.8%
Basic Materials	-	1.7%
Energy	-	2.5%
Real Estate	-	2.7%
Utilities	-	4.7%

Return for Risk

OUSA vs. JEPI — Risk / Return Rank

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

OUSA

OUSA Risk / Return Rank: 32
OUSA Sharpe Ratio Rank: 34
OUSA Sortino Ratio Rank: 34
OUSA Omega Ratio Rank: 31
OUSA Calmar Ratio Rank: 29
OUSA Martin Ratio Rank: 33

JEPI

JEPI Risk / Return Rank: 30
JEPI Sharpe Ratio Rank: 32
JEPI Sortino Ratio Rank: 32
JEPI Omega Ratio Rank: 31
JEPI Calmar Ratio Rank: 28
JEPI Martin Ratio Rank: 30

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.

OUSA vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for OShares U.S. Quality Dividend ETF (OUSA) 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.

	OUSA	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	1.17	1.12	+0.05
Sortino ratio: Return per unit of downside risk	1.76	1.66	+0.09
Omega ratio: Gain probability vs. loss probability	1.21	1.21	0.00
Calmar ratio: Return relative to maximum drawdown	1.38	1.35	+0.03
Martin ratio: Return relative to average drawdown	4.86	4.00	+0.86

OUSA vs. JEPI - Sharpe Ratio Comparison

The current OUSA Sharpe Ratio is 1.17, which is comparable to the JEPI Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of OUSA 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

OUSA vs. JEPI - Drawdown Comparison

The maximum OUSA drawdown since its inception was -33.12%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for OUSA and JEPI.

Drawdown Indicators

	OUSA	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-33.12%	-13.71%	-19.41%
Max Drawdown (1Y) Largest decline over 1 year	-8.36%	-6.68%	-1.68%
Max Drawdown (3Y) Largest decline over 3 years	-13.14%	-13.26%	+0.12%
Max Drawdown (5Y) Largest decline over 5 years	-19.54%	-13.71%	-5.83%
Max Drawdown (10Y) Largest decline over 10 years	-33.12%	—	—
Current Drawdown Current decline from peak	-3.27%	-3.69%	+0.42%
Average Drawdown Average peak-to-trough decline	-3.52%	-2.13%	-1.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.36%	2.24%	+0.12%

Volatility

OUSA vs. JEPI - Volatility Comparison

OShares U.S. Quality Dividend ETF (OUSA) has a higher volatility of 2.95% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.35%. This indicates that OUSA'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

	OUSA	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.95%	2.35%	+0.60%
Volatility (6M) Calculated over the trailing 6-month period	7.41%	6.28%	+1.13%
Volatility (1Y) Calculated over the trailing 1-year period	9.84%	8.04%	+1.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.31%	11.08%	+2.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.18%	10.79%	+4.39%

OUSA vs. JEPI - Expense Ratio Comparison

OUSA has a 0.48% expense ratio, which is higher than JEPI's 0.35% expense ratio.

Dividends

OUSA vs. JEPI - Dividend Comparison

OUSA's dividend yield for the trailing twelve months is around 1.44%, less than JEPI's 8.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPI JPMorgan Equity Premium Income ETF	8.17%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%	0.00%	0.00%	0.00%	0.00%
OUSA OShares U.S. Quality Dividend ETF	1.44%	1.39%	1.50%	1.81%	1.92%	1.56%	2.03%	2.31%	3.06%	2.15%	2.32%	1.17%

Frequently Asked Questions

Can I hold both OUSA and JEPI in my portfolio?

OUSA and JEPI have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OUSA or JEPI?

OUSA has higher volatility (2.95%) compared to JEPI (2.35%). In terms of maximum drawdown, OUSA dropped -33.12% vs JEPI's -13.71%.

Which ETF is better, OUSA or JEPI?

On 5-year performance, OUSA leads with 8.66% vs 7.51% for JEPI. On fees, JEPI is cheaper at 0.35% per year. On volatility, JEPI has been the lower-risk option at 2.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OUSA or JEPI?

Over the 5-year period, OUSA has performed better with a 8.66% return vs 7.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OUSA or JEPI?

JEPI is cheaper with a 0.35% expense ratio, compared with 0.48% for OUSA.

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

JEPI has the higher dividend yield at 8.17%, compared with 1.44% for OUSA.

What is the main difference between OUSA and JEPI?

OUSA is categorized as Large Cap Growth Equities, while JEPI is Dividend. They also come from different issuers: O'Shares Investments and JPMorgan. Their fees differ too: 0.48% for OUSA and 0.35% for JEPI.

Which has better risk-adjusted returns?

OUSA currently has the higher Sharpe Ratio (1.17 vs 1.12), 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.