PAPI vs. JEPQ
Compare and contrast key facts about Parametric Equity Premium Income ETF (PAPI) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ).
PAPI and JEPQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PAPI is an actively managed fund by Morgan Stanley. It was launched on Oct 16, 2023. JEPQ is an actively managed fund by JPMorgan Chase. It was launched on May 3, 2022.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PAPI or JEPQ.
Key characteristics
| PAPI | JEPQ | |
|---|---|---|
| YTD Return | 13.39% | 23.39% |
| 1Y Return | 19.75% | 28.15% |
| Sharpe Ratio | 2.23 | 2.38 |
| Sortino Ratio | 3.20 | 3.11 |
| Omega Ratio | 1.40 | 1.49 |
| Calmar Ratio | 4.91 | 2.71 |
| Martin Ratio | 12.67 | 11.74 |
| Ulcer Index | 1.70% | 2.48% |
| Daily Std Dev | 9.65% | 12.20% |
| Max Drawdown | -4.39% | -16.82% |
| Current Drawdown | -0.40% | 0.00% |
Correlation
The correlation between PAPI and JEPQ is 0.18, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
PAPI vs. JEPQ - Performance Comparison
In the year-to-date period, PAPI achieves a 13.39% return, which is significantly lower than JEPQ's 23.39% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PAPI vs. JEPQ - Expense Ratio Comparison
PAPI has a 0.29% expense ratio, which is lower than JEPQ's 0.35% expense ratio.
Risk-Adjusted Performance
PAPI vs. JEPQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Parametric Equity Premium Income ETF (PAPI) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). 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.
Dividends
PAPI vs. JEPQ - Dividend Comparison
PAPI's dividend yield for the trailing twelve months is around 6.92%, less than JEPQ's 9.35% yield.
| TTM | 2023 | 2022 | |
|---|---|---|---|
PAPI Parametric Equity Premium Income ETF | 6.92% | 1.45% | 0.00% |
JEPQ JPMorgan Nasdaq Equity Premium Income ETF | 9.35% | 10.02% | 9.44% |
Drawdowns
PAPI vs. JEPQ - Drawdown Comparison
The maximum PAPI drawdown since its inception was -4.39%, smaller than the maximum JEPQ drawdown of -16.82%. Use the drawdown chart below to compare losses from any high point for PAPI and JEPQ. For additional features, visit the drawdowns tool.
Volatility
PAPI vs. JEPQ - Volatility Comparison
The current volatility for Parametric Equity Premium Income ETF (PAPI) is 2.97%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 3.33%. This indicates that PAPI experiences smaller price fluctuations and is considered to be less risky than JEPQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.