PIAMX vs. JEPAX

Last updated Apr 1, 2026

Compare and contrast key facts about PIA High Yield (MACS) Fund (PIAMX) and JPMorgan Equity Premium Income Fund Class A (JEPAX).

PIAMX is managed by PIA Mutual Funds. It was launched on Dec 26, 2017. JEPAX is managed by JPMorgan. It was launched on Aug 31, 2018.

Performance

PIAMX vs. JEPAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIA High Yield (MACS) Fund (PIAMX) and JPMorgan Equity Premium Income Fund Class A (JEPAX). The values are adjusted to include any dividend payments, if applicable.

PIAMX vs. JEPAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
PIAMX PIA High Yield (MACS) Fund	-2.20%	2.34%	11.23%	16.38%	-10.93%	7.82%	9.05%	5.40%
JEPAX JPMorgan Equity Premium Income Fund Class A	-2.40%	7.55%	12.07%	9.42%	-4.05%	19.13%	5.75%	7.45%

Returns By Period

In the year-to-date period, PIAMX achieves a -2.20% return, which is significantly higher than JEPAX's -2.40% return.

PIAMX

• 1D: 0.26%
• 1M: -2.36%
• YTD: -2.20%
• 6M: -2.91%
• 1Y: 1.56%
• 3Y*: 7.17%
• 5Y*: 3.87%
• 10Y*: —

JEPAX

• 1D: 0.07%
• 1M: -7.35%
• YTD: -2.40%
• 6M: 0.30%
• 1Y: 4.66%
• 3Y*: 8.21%
• 5Y*: 7.30%
• 10Y*: —

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

PIAMX vs. JEPAX - Expense Ratio Comparison

PIAMX has a 0.20% expense ratio, which is lower than JEPAX's 0.85% expense ratio.

JEPAX

JPMorgan Equity Premium Income Fund Class A

PIAMX

PIA High Yield (MACS) Fund

Return for Risk

PIAMX vs. JEPAX — Risk / Return Rank

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

PIAMX

PIAMX Risk / Return Rank: 11
PIAMX Sharpe Ratio Rank: 13
PIAMX Sortino Ratio Rank: 10
PIAMX Omega Ratio Rank: 12
PIAMX Calmar Ratio Rank: 10
PIAMX Martin Ratio Rank: 10

JEPAX

JEPAX Risk / Return Rank: 19
JEPAX Sharpe Ratio Rank: 18
JEPAX Sortino Ratio Rank: 18
JEPAX Omega Ratio Rank: 21
JEPAX Calmar Ratio Rank: 16
JEPAX Martin Ratio Rank: 21

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.

PIAMX vs. JEPAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIA High Yield (MACS) Fund (PIAMX) 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.

	PIAMX	JEPAX	Difference
Sharpe ratio Return per unit of total volatility	0.31	0.46	-0.15
Sortino ratio Return per unit of downside risk	0.41	0.74	-0.33
Omega ratio Gain probability vs. loss probability	1.07	1.12	-0.05
Calmar ratio Return relative to maximum drawdown	0.20	0.46	-0.26
Martin ratio Return relative to average drawdown	0.61	2.14	-1.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PIAMX vs. JEPAX - Sharpe Ratio Comparison

The current PIAMX Sharpe Ratio is 0.31, which is lower than the JEPAX Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of PIAMX and JEPAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PIAMX	JEPAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.31	0.46	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.97	0.64	+0.33
Sharpe Ratio (All Time) Calculated using the full available price history	1.15	0.51	+0.64

Correlation

The correlation between PIAMX and JEPAX is 0.35, 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.

Dividends

PIAMX vs. JEPAX - Dividend Comparison

PIAMX's dividend yield for the trailing twelve months is around 8.51%, more than JEPAX's 7.45% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
PIAMX PIA High Yield (MACS) Fund	8.51%	9.12%	8.49%	8.12%	7.99%	8.64%	6.63%	6.96%	7.14%
JEPAX JPMorgan Equity Premium Income Fund Class A	7.45%	7.88%	6.95%	8.19%	11.98%	5.96%	11.35%	5.61%	0.00%

Drawdowns

PIAMX vs. JEPAX - Drawdown Comparison

The maximum PIAMX drawdown since its inception was -18.15%, smaller than the maximum JEPAX drawdown of -32.69%. Use the drawdown chart below to compare losses from any high point for PIAMX and JEPAX.

Drawdown Indicators

	PIAMX	JEPAX	Difference
Max Drawdown Largest peak-to-trough decline	-18.15%	-32.69%	+14.54%
Max Drawdown (1Y) Largest decline over 1 year	-4.17%	-10.43%	+6.26%
Max Drawdown (5Y) Largest decline over 5 years	-13.92%	-13.74%	-0.18%
Current Drawdown Current decline from peak	-3.50%	-7.35%	+3.85%
Average Drawdown Average peak-to-trough decline	-2.36%	-3.05%	+0.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.37%	2.23%	-0.86%

Volatility

PIAMX vs. JEPAX - Volatility Comparison

The current volatility for PIA High Yield (MACS) Fund (PIAMX) is 1.72%, while JPMorgan Equity Premium Income Fund Class A (JEPAX) has a volatility of 3.45%. This indicates that PIAMX experiences smaller price fluctuations and is considered to be less risky than JEPAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PIAMX	JEPAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.72%	3.45%	-1.73%
Volatility (6M) Calculated over the trailing 6-month period	2.45%	6.50%	-4.05%
Volatility (1Y) Calculated over the trailing 1-year period	4.32%	13.68%	-9.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.01%	11.40%	-7.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.25%	15.02%	-10.77%