QLVD vs. JEPI

Last updated Jun 3, 2026

QLVD (FlexShares Developed Markets ex-US Quality Low Volatility Index Fund) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - QLVD is a Volatility Hedged Equity fund tracking the Northern Trust Developed Markets ex US Quality Low Volatility Index, while JEPI is a Dividend fund actively managed by JPMorgan. QLVD is passively managed, while JEPI is actively managed. Over the past 5 years, QLVD returned 6.14%/yr vs 7.30%/yr for JEPI. A 0.66 correlation means they provide meaningful diversification when combined. QLVD charges 0.32%/yr vs 0.35%/yr for JEPI.

Performance

QLVD vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares Developed Markets ex-US Quality Low Volatility Index Fund (QLVD) 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, QLVD achieves a 3.37% return, which is significantly higher than JEPI's 0.01% return.

QLVD

• 1D: 0.13%
• 1M: -1.23%
• YTD: 3.37%
• 6M: 5.73%
• 1Y: 7.46%
• 3Y*: 11.86%
• 5Y*: 6.14%
• 10Y*: —

JEPI

• 1D: 0.02%
• 1M: -1.94%
• YTD: 0.01%
• 6M: 0.89%
• 1Y: 7.76%
• 3Y*: 8.83%
• 5Y*: 7.30%
• 10Y*: —

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

QLVD vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Index Fund	3.37%	24.21%	4.67%	11.57%	-12.09%	9.04%	17.64%
JEPI JPMorgan Equity Premium Income ETF	0.01%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.61%

Correlation

The correlation between QLVD 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	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (All Time) Calculated using the full available price history since May 22, 2020	0.66

The correlation between QLVD and JEPI has been stable across timeframes, ranging from 0.61 to 0.66 - a consistent structural relationship.

QLVD vs. JEPI - Sectors Allocation Comparison

Sectors	QLVD	JEPI
Financial Services	24.3%	9.8%
Industrials	15.3%	13.8%
Consumer Defensive	11.3%	9.6%
Healthcare	10.6%	14.1%
Utilities	7.9%	6.2%
Communication Services	6.7%	6.9%
Consumer Cyclical	5.5%	11.7%
Real Estate	5.3%	3.5%
Technology	5.0%	19.1%
Basic Materials	4.3%	1.9%
Energy	3.9%	3.5%

Return for Risk

QLVD vs. JEPI — Risk / Return Rank

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

QLVD

QLVD Risk / Return Rank: 21
QLVD Sharpe Ratio Rank: 21
QLVD Sortino Ratio Rank: 20
QLVD Omega Ratio Rank: 20
QLVD Calmar Ratio Rank: 22
QLVD Martin Ratio Rank: 24

JEPI

JEPI Risk / Return Rank: 27
JEPI Sharpe Ratio Rank: 28
JEPI Sortino Ratio Rank: 28
JEPI Omega Ratio Rank: 27
JEPI Calmar Ratio Rank: 25
JEPI Martin Ratio Rank: 27

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.

QLVD vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares Developed Markets ex-US Quality Low Volatility Index Fund (QLVD) 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.

	QLVD	JEPI	Difference
Sharpe ratio Return per unit of total volatility	0.71	0.99	-0.28
Sortino ratio Return per unit of downside risk	1.07	1.48	-0.41
Omega ratio Gain probability vs. loss probability	1.13	1.18	-0.05
Calmar ratio Return relative to maximum drawdown	1.06	1.18	-0.13
Martin ratio Return relative to average drawdown	3.18	3.87	-0.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QLVD vs. JEPI - Sharpe Ratio Comparison

The current QLVD Sharpe Ratio is 0.71, which is comparable to the JEPI Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of QLVD 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.

Sharpe Ratios by Period

	QLVD	JEPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.71	0.99	-0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.66	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	1.01	-0.52

Drawdowns

QLVD vs. JEPI - Drawdown Comparison

The maximum QLVD drawdown since its inception was -28.20%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for QLVD and JEPI.

Drawdown Indicators

	QLVD	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-28.20%	-13.71%	-14.49%
Max Drawdown (1Y) Largest decline over 1 year	-8.15%	-6.68%	-1.47%
Max Drawdown (3Y) Largest decline over 3 years	-9.24%	-13.26%	+4.02%
Max Drawdown (5Y) Largest decline over 5 years	-23.99%	-13.71%	-10.28%
Current Drawdown Current decline from peak	-5.55%	-4.96%	-0.59%
Average Drawdown Average peak-to-trough decline	-5.24%	-2.11%	-3.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.71%	2.04%	+0.67%

Volatility

QLVD vs. JEPI - Volatility Comparison

FlexShares Developed Markets ex-US Quality Low Volatility Index Fund (QLVD) has a higher volatility of 3.19% compared to JPMorgan Equity Premium Income ETF (JEPI) at 1.34%. This indicates that QLVD'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

	QLVD	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.19%	1.34%	+1.85%
Volatility (6M) Calculated over the trailing 6-month period	8.26%	6.10%	+2.16%
Volatility (1Y) Calculated over the trailing 1-year period	10.55%	7.85%	+2.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.73%	11.06%	+0.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.98%	10.80%	+3.18%

QLVD vs. JEPI - Expense Ratio Comparison

QLVD has a 0.32% expense ratio, which is lower than JEPI's 0.35% expense ratio.

Dividends

QLVD vs. JEPI - Dividend Comparison

QLVD's dividend yield for the trailing twelve months is around 2.76%, less than JEPI's 8.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
JEPI JPMorgan Equity Premium Income ETF	8.28%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Index Fund	2.76%	2.87%	3.01%	3.33%	2.47%	3.06%	1.78%	1.06%

Frequently Asked Questions

Can I hold both QLVD and JEPI in my portfolio?

QLVD 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, QLVD or JEPI?

QLVD has higher volatility (3.19%) compared to JEPI (1.34%). In terms of maximum drawdown, QLVD dropped -28.20% vs JEPI's -13.71%.

Which ETF is better, QLVD or JEPI?

On 5-year performance, JEPI leads with 7.30% vs 6.14% for QLVD. On fees, QLVD is cheaper at 0.32% per year. On volatility, JEPI has been the lower-risk option at 1.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QLVD or JEPI?

Over the 5-year period, JEPI has performed better with a 7.30% return vs 6.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QLVD or JEPI?

QLVD is cheaper with a 0.32% expense ratio, compared with 0.35% for JEPI.

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

JEPI has the higher dividend yield at 8.28%, compared with 2.76% for QLVD.

What is the main difference between QLVD and JEPI?

QLVD is categorized as Volatility Hedged Equity, while JEPI is Dividend. They also come from different issuers: Northern Trust and JPMorgan. Their fees differ too: 0.32% for QLVD and 0.35% for JEPI.

Which has better risk-adjusted returns?

JEPI currently has the higher Sharpe Ratio (0.99 vs 0.71), 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.