PXSGX vs. JEPI

Last updated Jul 15, 2026

PXSGX (Virtus KAR Small-Cap Growth Fund) and JEPI (JPMorgan Equity Premium Income ETF) are both funds - PXSGX is a Small Cap Growth Equities fund managed by Virtus, while JEPI is a Dividend fund actively managed by JPMorgan. Over the past 5 years, PXSGX returned -4.60%/yr vs 7.26%/yr for JEPI. A 0.65 correlation means they provide meaningful diversification when combined. PXSGX charges 1.07%/yr vs 0.35%/yr for JEPI.

Performance

PXSGX vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus KAR Small-Cap Growth Fund (PXSGX) 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, PXSGX achieves a -2.14% return, which is significantly lower than JEPI's 2.97% return.

PXSGX

• 1D: 0.12%
• 1M: 5.42%
• 6M: -7.54%
• YTD: -2.14%
• 1Y: -18.26%
• 3Y*: -2.07%
• 5Y*: -4.60%
• 10Y*: 10.28%

JEPI

• 1D: -0.32%
• 1M: 1.66%
• 6M: 1.19%
• YTD: 2.97%
• 1Y: 7.85%
• 3Y*: 9.02%
• 5Y*: 7.26%
• 10Y*: —

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

PXSGX vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PXSGX Virtus KAR Small-Cap Growth Fund	-2.14%	-22.97%	21.11%	20.27%	-30.04%	4.47%	43.14%
JEPI JPMorgan Equity Premium Income ETF	2.97%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.39%

Correlation

The correlation between PXSGX and JEPI is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (All Time) Calculated using the full available price history since May 21, 2020	0.65

The correlation between PXSGX and JEPI has been stable across timeframes, ranging from 0.65 to 0.68 - a consistent structural relationship.

Return for Risk

PXSGX vs. JEPI — Risk / Return Rank

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

PXSGX

PXSGX Risk / Return Rank: 1
PXSGX Sharpe Ratio Rank: 1
PXSGX Sortino Ratio Rank: 0
PXSGX Omega Ratio Rank: 1
PXSGX Calmar Ratio Rank: 1
PXSGX Martin Ratio Rank: 1

JEPI

JEPI Risk / Return Rank: 31
JEPI Sharpe Ratio Rank: 33
JEPI Sortino Ratio Rank: 33
JEPI Omega Ratio Rank: 32
JEPI Calmar Ratio Rank: 29
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.

PXSGX vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus KAR Small-Cap Growth Fund (PXSGX) 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.

	PXSGX	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	-0.95	0.98	-1.93
Sortino ratio: Return per unit of downside risk	-1.35	1.47	-2.82
Omega ratio: Gain probability vs. loss probability	0.86	1.18	-0.32
Calmar ratio: Return relative to maximum drawdown	-0.64	1.18	-1.81
Martin ratio: Return relative to average drawdown	-1.04	3.36	-4.40

PXSGX vs. JEPI - Sharpe Ratio Comparison

The current PXSGX Sharpe Ratio is -0.95, which is lower than the JEPI Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of PXSGX 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

PXSGX vs. JEPI - Drawdown Comparison

The maximum PXSGX drawdown since its inception was -53.72%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for PXSGX and JEPI.

Drawdown Indicators

	PXSGX	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-53.72%	-13.71%	-40.01%
Max Drawdown (1Y) Largest decline over 1 year	-28.07%	-6.68%	-21.39%
Max Drawdown (3Y) Largest decline over 3 years	-42.49%	-13.26%	-29.23%
Max Drawdown (5Y) Largest decline over 5 years	-42.49%	-13.71%	-28.78%
Max Drawdown (10Y) Largest decline over 10 years	-42.49%	—	—
Current Drawdown Current decline from peak	-35.43%	-2.15%	-33.28%
Average Drawdown Average peak-to-trough decline	-11.89%	-2.13%	-9.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.16%	2.34%	+14.82%

Volatility

PXSGX vs. JEPI - Volatility Comparison

Virtus KAR Small-Cap Growth Fund (PXSGX) has a higher volatility of 5.26% compared to JPMorgan Equity Premium Income ETF (JEPI) at 1.99%. This indicates that PXSGX'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

	PXSGX	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.26%	1.99%	+3.27%
Volatility (6M) Calculated over the trailing 6-month period	13.16%	6.31%	+6.85%
Volatility (1Y) Calculated over the trailing 1-year period	18.82%	8.02%	+10.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.85%	11.09%	+13.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.58%	10.75%	+11.83%

PXSGX vs. JEPI - Expense Ratio Comparison

PXSGX has a 1.07% expense ratio, which is higher than JEPI's 0.35% expense ratio.

Dividends

PXSGX vs. JEPI - Dividend Comparison

PXSGX's dividend yield for the trailing twelve months is around 48.96%, more than JEPI's 8.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPI JPMorgan Equity Premium Income ETF	8.08%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%	0.00%	0.00%	0.00%	0.00%
PXSGX Virtus KAR Small-Cap Growth Fund	48.96%	47.91%	20.72%	5.31%	17.32%	14.31%	9.64%	1.52%	2.31%	0.00%	2.69%	2.99%

Frequently Asked Questions

Can I hold both PXSGX and JEPI in my portfolio?

PXSGX and JEPI have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PXSGX or JEPI?

PXSGX has higher volatility (5.26%) compared to JEPI (1.99%). In terms of maximum drawdown, PXSGX dropped -53.72% vs JEPI's -13.71%.

Which has better risk-adjusted returns?

JEPI currently has the higher Sharpe Ratio (0.98 vs -0.95), 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.