SCHA vs. JEPI

Last updated Jun 23, 2026

SCHA (Schwab U.S. Small-Cap ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - SCHA is a Small Cap Blend Equities fund tracking the Dow Jones U.S. Small-Cap Total Stock Market Index, while JEPI is a Dividend fund actively managed by JPMorgan. SCHA is passively managed, while JEPI is actively managed. Over the past 5 years, SCHA returned 7.90%/yr vs 7.51%/yr for JEPI. A 0.68 correlation means they provide meaningful diversification when combined. SCHA charges 0.04%/yr vs 0.35%/yr for JEPI.

Performance

SCHA vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Small-Cap ETF (SCHA) 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, SCHA achieves a 24.67% return, which is significantly higher than JEPI's 1.34% return.

SCHA

• 1D: 0.77%
• 1M: 6.39%
• YTD: 24.67%
• 6M: 21.39%
• 1Y: 45.75%
• 3Y*: 20.54%
• 5Y*: 7.90%
• 10Y*: 11.91%

JEPI

• 1D: -0.05%
• 1M: 0.23%
• YTD: 1.34%
• 6M: 1.18%
• 1Y: 8.97%
• 3Y*: 9.13%
• 5Y*: 7.51%
• 10Y*: —

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

SCHA vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SCHA Schwab U.S. Small-Cap ETF	24.67%	11.60%	11.16%	18.46%	-19.81%	16.45%	47.15%
JEPI JPMorgan Equity Premium Income ETF	1.34%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.39%

Correlation

The correlation between SCHA and JEPI is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (All Time) Calculated using the full available price history since May 21, 2020	0.68

The correlation between SCHA and JEPI has been stable across timeframes, ranging from 0.66 to 0.71 - a consistent structural relationship.

SCHA vs. JEPI - Sectors Allocation Comparison

Sectors	SCHA	JEPI
Technology	24.3%	15.3%
Financial Services	15.4%	7.2%
Industrials	15.4%	9.7%
Healthcare	13.8%	11.6%
Consumer Cyclical	9.2%	10.0%
Real Estate	5.8%	2.7%
Energy	4.8%	2.5%
Basic Materials	4.1%	1.7%
Consumer Defensive	2.5%	7.8%
Communication Services	2.3%	6.3%
Utilities	2.1%	4.7%

Return for Risk

SCHA vs. JEPI — Risk / Return Rank

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

SCHA

SCHA Risk / Return Rank: 81
SCHA Sharpe Ratio Rank: 80
SCHA Sortino Ratio Rank: 80
SCHA Omega Ratio Rank: 72
SCHA Calmar Ratio Rank: 87
SCHA Martin Ratio Rank: 87

JEPI

JEPI Risk / Return Rank: 30
JEPI Sharpe Ratio Rank: 32
JEPI Sortino Ratio Rank: 32
JEPI Omega Ratio Rank: 31
JEPI Calmar Ratio Rank: 28
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.

SCHA vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Small-Cap ETF (SCHA) 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.

	SCHA	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	2.46	1.12	+1.34
Sortino ratio: Return per unit of downside risk	3.38	1.66	+1.71
Omega ratio: Gain probability vs. loss probability	1.41	1.21	+0.20
Calmar ratio: Return relative to maximum drawdown	4.84	1.35	+3.49
Martin ratio: Return relative to average drawdown	17.72	4.00	+13.72

SCHA vs. JEPI - Sharpe Ratio Comparison

The current SCHA Sharpe Ratio is 2.46, which is higher than the JEPI Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of SCHA 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

SCHA vs. JEPI - Drawdown Comparison

The maximum SCHA drawdown since its inception was -42.41%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for SCHA and JEPI.

Drawdown Indicators

	SCHA	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-42.41%	-13.71%	-28.70%
Max Drawdown (1Y) Largest decline over 1 year	-9.50%	-6.68%	-2.82%
Max Drawdown (3Y) Largest decline over 3 years	-27.29%	-13.26%	-14.03%
Max Drawdown (5Y) Largest decline over 5 years	-30.79%	-13.71%	-17.08%
Max Drawdown (10Y) Largest decline over 10 years	-42.41%	—	—
Current Drawdown Current decline from peak	0.00%	-3.69%	+3.69%
Average Drawdown Average peak-to-trough decline	-7.56%	-2.13%	-5.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	2.24%	+0.35%

Volatility

SCHA vs. JEPI - Volatility Comparison

Schwab U.S. Small-Cap ETF (SCHA) has a higher volatility of 6.45% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.35%. This indicates that SCHA'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

	SCHA	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.45%	2.35%	+4.10%
Volatility (6M) Calculated over the trailing 6-month period	13.80%	6.28%	+7.52%
Volatility (1Y) Calculated over the trailing 1-year period	18.71%	8.04%	+10.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.03%	11.08%	+10.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.78%	10.79%	+11.99%

SCHA vs. JEPI - Expense Ratio Comparison

SCHA has a 0.04% expense ratio, which is lower than JEPI's 0.35% expense ratio.

Dividends

SCHA vs. JEPI - Dividend Comparison

SCHA's dividend yield for the trailing twelve months is around 0.96%, less than JEPI's 8.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPI JPMorgan Equity Premium Income ETF	8.17%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%	0.00%	0.00%	0.00%	0.00%
SCHA Schwab U.S. Small-Cap ETF	0.96%	1.26%	1.51%	1.42%	1.37%	1.19%	1.05%	1.39%	1.58%	1.24%	1.50%	1.48%

Frequently Asked Questions

Can I hold both SCHA and JEPI in my portfolio?

SCHA and JEPI have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCHA or JEPI?

SCHA has higher volatility (6.45%) compared to JEPI (2.35%). In terms of maximum drawdown, SCHA dropped -42.41% vs JEPI's -13.71%.

Which ETF is better, SCHA or JEPI?

On 5-year performance, SCHA leads with 7.90% vs 7.51% for JEPI. On fees, SCHA is cheaper at 0.04% per year. On volatility, JEPI has been the lower-risk option at 2.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHA or JEPI?

Over the 5-year period, SCHA has performed better with a 7.90% return vs 7.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHA or JEPI?

SCHA is cheaper with a 0.04% expense ratio, compared with 0.35% for JEPI.

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

JEPI has the higher dividend yield at 8.17%, compared with 0.96% for SCHA.

What is the main difference between SCHA and JEPI?

SCHA is categorized as Small Cap Blend Equities, while JEPI is Dividend. They also come from different issuers: Charles Schwab and JPMorgan. Their fees differ too: 0.04% for SCHA and 0.35% for JEPI.

Which has better risk-adjusted returns?

SCHA currently has the higher Sharpe Ratio (2.46 vs 1.12), 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.