PEY vs. JEPI

Last updated Aug 2, 2026

PEY (Invesco High Yield Equity Dividend Achievers™ ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - PEY is a Mid Cap Value Equities fund tracking the NASDAQ US Dividend Achievers 50 Index, while JEPI is a Dividend fund actively managed by JPMorgan. PEY is passively managed, while JEPI is actively managed. Over the past 5 years, PEY returned 8.46%/yr vs 7.40%/yr for JEPI. Their 0.66 correlation means they have sometimes moved together and sometimes differently. PEY charges 0.54%/yr vs 0.35%/yr for JEPI.

Performance

PEY vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco High Yield Equity Dividend Achievers™ ETF (PEY) 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, PEY achieves a 21.78% return, which is significantly higher than JEPI's 4.52% return.

PEY

• 1D: -0.80%
• 1M: 2.19%
• 6M: 14.34%
• YTD: 21.78%
• 1Y: 24.40%
• 3Y*: 11.82%
• 5Y*: 8.46%
• 10Y*: 9.05%
• ALL TIME*: 6.66%

JEPI

• 1D: 0.33%
• 1M: 1.27%
• 6M: 2.16%
• YTD: 4.52%
• 1Y: 11.16%
• 3Y*: 9.21%
• 5Y*: 7.40%
• 10Y*: —
• ALL TIME*: 11.29%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JEPI JPMorgan Equity Premium Income ETF	$260.98M	$260.42M	$297.70M
PEY Invesco High Yield Equity Dividend Achievers™ ETF	$6.16M	$4.94M	$4.80M

PEY vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PEY Invesco High Yield Equity Dividend Achievers™ ETF	21.78%	0.56%	5.25%	7.29%	2.45%	26.15%	29.94%
JEPI JPMorgan Equity Premium Income ETF	4.52%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.39%

Correlation

The correlation between PEY and JEPI is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.60
Correlation (3Y) Balances recent behavior with more history.	0.65
Correlation (5Y) Shows whether the relationship held over a longer period.	0.70
Correlation (All Time) Calculated using the full available price history since May 21, 2020	0.66

The correlation between PEY and JEPI has been stable across timeframes, ranging from 0.60 to 0.70 - a consistent structural relationship.

PEY vs. JEPI - Sectors Allocation Comparison

Sectors	PEY	JEPI
Financial Services	22.0%	8.9%
Consumer Defensive	20.0%	7.7%
Industrials	15.5%	11.2%
Utilities	14.0%	4.9%
Consumer Cyclical	7.1%	9.8%
Communication Services	5.3%	6.1%
Healthcare	4.2%	12.9%
Basic Materials	4.0%	1.6%
Technology	2.6%	15.4%
Energy	1.6%	2.6%
Real Estate	-	2.6%

Return for Risk

PEY vs. JEPI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PEY

PEY Risk / Return Rank: 71
PEY Sharpe Ratio Rank: 72
PEY Sortino Ratio Rank: 78
PEY Omega Ratio Rank: 66
PEY Calmar Ratio Rank: 75
PEY Martin Ratio Rank: 64

JEPI

JEPI Risk / Return Rank: 48
JEPI Sharpe Ratio Rank: 52
JEPI Sortino Ratio Rank: 53
JEPI Omega Ratio Rank: 52
JEPI Calmar Ratio Rank: 43
JEPI Martin Ratio Rank: 41

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PEY vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco High Yield Equity Dividend Achievers™ ETF (PEY) 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.

	PEY	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.25	+0.38
Sortino ratio: Return per unit of downside risk	2.49	1.85	+0.64
Omega ratio: Gain probability vs. loss probability	1.28	1.23	+0.05
Calmar ratio: Return relative to maximum drawdown	2.62	1.52	+1.10
Martin ratio: Return relative to average drawdown	7.66	4.32	+3.34

PEY vs. JEPI - Sharpe Ratio Comparison

The current PEY Sharpe Ratio is 1.63, which is higher than the JEPI Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of PEY 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

PEY vs. JEPI - Drawdown Comparison

The maximum PEY drawdown since its inception was -72.81%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for PEY and JEPI.

Drawdown Indicators

	PEY	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-72.81%	-13.71%	-59.10%
Max Drawdown (1Y) Largest decline over 1 year	-8.88%	-6.68%	-2.20%
Max Drawdown (3Y) Largest decline over 3 years	-17.90%	-13.26%	-4.64%
Max Drawdown (5Y) Largest decline over 5 years	-17.90%	-13.71%	-4.19%
Max Drawdown (10Y) Largest decline over 10 years	-41.55%	—	—
Current Drawdown Current decline from peak	-2.76%	-0.68%	-2.08%
Average Drawdown Average peak-to-trough decline	-12.79%	-2.13%	-10.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	2.36%	+0.67%

Volatility

PEY vs. JEPI - Volatility Comparison

Invesco High Yield Equity Dividend Achievers™ ETF (PEY) has a higher volatility of 5.27% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.38%. This indicates that PEY'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

	PEY	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.27%	2.38%	+2.89%
Volatility (6M) Calculated over the trailing 6-month period	10.05%	6.37%	+3.68%
Volatility (1Y) Calculated over the trailing 1-year period	14.27%	8.15%	+6.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.45%	11.10%	+5.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.91%	10.73%	+8.18%

PEY vs. JEPI - Expense Ratio Comparison

PEY has a 0.54% expense ratio, which is higher than JEPI's 0.35% expense ratio.

Dividends

PEY vs. JEPI - Dividend Comparison

PEY's dividend yield for the trailing twelve months is around 4.26%, less than JEPI's 7.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPI JPMorgan Equity Premium Income ETF	7.34%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%	0.00%	0.00%	0.00%	0.00%
PEY Invesco High Yield Equity Dividend Achievers™ ETF	4.26%	4.85%	4.44%	4.58%	4.22%	3.83%	4.30%	3.78%	4.33%	3.21%	3.12%	3.44%

Frequently Asked Questions

Can I hold both PEY and JEPI in my portfolio?

PEY and JEPI have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PEY or JEPI?

PEY has higher volatility (5.27%) compared to JEPI (2.38%). In terms of maximum drawdown, PEY dropped -72.81% vs JEPI's -13.71%.

Which ETF is better, PEY or JEPI?

On 5-year performance, PEY leads with 8.46% vs 7.40% for JEPI. On fees, JEPI is cheaper at 0.35% per year. On volatility, JEPI has been the lower-risk option at 2.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PEY or JEPI?

Over the 5-year period, PEY has performed better with a 8.46% return vs 7.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PEY or JEPI?

JEPI is cheaper with a 0.35% expense ratio, compared with 0.54% for PEY.

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

JEPI has the higher dividend yield at 7.34%, compared with 4.26% for PEY.

What is the main difference between PEY and JEPI?

PEY is categorized as Mid Cap Value Equities, while JEPI is Dividend. They also come from different issuers: Invesco and JPMorgan. Their fees differ too: 0.54% for PEY and 0.35% for JEPI.

Which has better risk-adjusted returns?

PEY currently has the higher Sharpe Ratio (1.63 vs 1.25), 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.