REAYX vs. JEPI

Last updated Jun 24, 2026

REAYX (Russell Investments Equity Income Fund) and JEPI (JPMorgan Equity Premium Income ETF) are both funds - REAYX is a Large Cap Value Equities fund managed by Russell, while JEPI is a Dividend fund actively managed by JPMorgan. Over the past 5 years, REAYX returned 10.06%/yr vs 7.31%/yr for JEPI. Their correlation of 0.83 suggests significant overlap in exposure. REAYX charges 0.66%/yr vs 0.35%/yr for JEPI.

Performance

REAYX vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Russell Investments Equity Income Fund (REAYX) 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, REAYX achieves a 12.23% return, which is significantly higher than JEPI's 0.91% return.

REAYX

• 1D: 0.32%
• 1M: 1.31%
• YTD: 12.23%
• 6M: 11.79%
• 1Y: 23.06%
• 3Y*: 16.53%
• 5Y*: 10.06%
• 10Y*: —

JEPI

• 1D: -0.43%
• 1M: -0.19%
• YTD: 0.91%
• 6M: 0.64%
• 1Y: 7.76%
• 3Y*: 8.98%
• 5Y*: 7.31%
• 10Y*: —

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

REAYX vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
REAYX Russell Investments Equity Income Fund	12.23%	14.66%	11.90%	12.50%	-8.86%	27.01%	28.92%
JEPI JPMorgan Equity Premium Income ETF	0.91%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.39%

Correlation

The correlation between REAYX and JEPI is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since May 21, 2020	0.83

The correlation between REAYX and JEPI has been stable across timeframes, ranging from 0.83 to 0.86 - a consistent structural relationship.

Return for Risk

REAYX vs. JEPI — Risk / Return Rank

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

REAYX

REAYX Risk / Return Rank: 76
REAYX Sharpe Ratio Rank: 74
REAYX Sortino Ratio Rank: 76
REAYX Omega Ratio Rank: 66
REAYX Calmar Ratio Rank: 82
REAYX Martin Ratio Rank: 80

JEPI

JEPI Risk / Return Rank: 27
JEPI Sharpe Ratio Rank: 28
JEPI Sortino Ratio Rank: 27
JEPI Omega Ratio Rank: 26
JEPI Calmar Ratio Rank: 25
JEPI Martin Ratio Rank: 26

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.

REAYX vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Russell Investments Equity Income Fund (REAYX) 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.

	REAYX	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	2.32	0.97	+1.35
Sortino ratio: Return per unit of downside risk	3.34	1.45	+1.89
Omega ratio: Gain probability vs. loss probability	1.41	1.18	+0.23
Calmar ratio: Return relative to maximum drawdown	3.63	1.17	+2.46
Martin ratio: Return relative to average drawdown	13.88	3.44	+10.43

REAYX vs. JEPI - Sharpe Ratio Comparison

The current REAYX Sharpe Ratio is 2.32, which is higher than the JEPI Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of REAYX 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

REAYX vs. JEPI - Drawdown Comparison

The maximum REAYX drawdown since its inception was -36.87%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for REAYX and JEPI.

Drawdown Indicators

	REAYX	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-36.87%	-13.71%	-23.16%
Max Drawdown (1Y) Largest decline over 1 year	-6.66%	-6.68%	+0.02%
Max Drawdown (3Y) Largest decline over 3 years	-20.66%	-13.26%	-7.40%
Max Drawdown (5Y) Largest decline over 5 years	-20.66%	-13.71%	-6.95%
Current Drawdown Current decline from peak	-1.01%	-4.11%	+3.10%
Average Drawdown Average peak-to-trough decline	-4.90%	-2.13%	-2.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.74%	2.26%	-0.52%

Volatility

REAYX vs. JEPI - Volatility Comparison

Russell Investments Equity Income Fund (REAYX) has a higher volatility of 3.32% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.38%. This indicates that REAYX'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

	REAYX	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.32%	2.38%	+0.94%
Volatility (6M) Calculated over the trailing 6-month period	7.79%	6.29%	+1.50%
Volatility (1Y) Calculated over the trailing 1-year period	10.43%	8.03%	+2.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.77%	11.08%	+5.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.53%	10.78%	+7.75%

REAYX vs. JEPI - Expense Ratio Comparison

REAYX has a 0.66% expense ratio, which is higher than JEPI's 0.35% expense ratio.

Dividends

REAYX vs. JEPI - Dividend Comparison

REAYX's dividend yield for the trailing twelve months is around 13.39%, more than JEPI's 8.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JEPI JPMorgan Equity Premium Income ETF	8.21%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%	0.00%	0.00%
REAYX Russell Investments Equity Income Fund	13.39%	15.24%	15.38%	13.55%	19.72%	10.47%	3.61%	1.86%	45.26%	14.47%

Frequently Asked Questions

Can I hold both REAYX and JEPI in my portfolio?

REAYX and JEPI have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, REAYX or JEPI?

REAYX has higher volatility (3.32%) compared to JEPI (2.38%). In terms of maximum drawdown, REAYX dropped -36.87% vs JEPI's -13.71%.

Which has better risk-adjusted returns?

REAYX currently has the higher Sharpe Ratio (2.32 vs 0.97), 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.