SCHD vs. JEPI

Last updated Jun 6, 2026

SCHD (Schwab U.S. Dividend Equity ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both Dividend funds. SCHD is passively managed, while JEPI is actively managed. Over the past 5 years, SCHD returned 8.31%/yr vs 7.30%/yr for JEPI. A 0.78 correlation means they provide meaningful diversification when combined. SCHD charges 0.06%/yr vs 0.35%/yr for JEPI.

Performance

SCHD vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Dividend Equity ETF (SCHD) 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, SCHD achieves a 18.75% return, which is significantly higher than JEPI's 0.35% return.

SCHD

• 1D: -0.89%
• 1M: 2.02%
• YTD: 18.75%
• 6M: 18.75%
• 1Y: 27.90%
• 3Y*: 15.14%
• 5Y*: 8.31%
• 10Y*: 12.64%

JEPI

• 1D: -0.34%
• 1M: -1.01%
• YTD: 0.35%
• 6M: 0.76%
• 1Y: 7.86%
• 3Y*: 9.00%
• 5Y*: 7.30%
• 10Y*: —

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

SCHD vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SCHD Schwab U.S. Dividend Equity ETF	18.75%	4.34%	11.66%	4.54%	-3.26%	29.87%	30.17%
JEPI JPMorgan Equity Premium Income ETF	0.35%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.61%

Correlation

The correlation between SCHD and JEPI is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since May 22, 2020	0.78

The correlation between SCHD and JEPI shifts across timeframes, from 0.70 (1 year) to 0.82 (5 years), reflecting how their relationship changes across market environments.

SCHD vs. JEPI - Sectors Allocation Comparison

Sectors	SCHD	JEPI
Consumer Defensive	19.2%	9.6%
Healthcare	18.8%	14.1%
Technology	16.4%	19.1%
Energy	16.2%	3.5%
Financial Services	9.3%	9.8%
Industrials	7.5%	13.8%
Communication Services	6.3%	6.9%
Consumer Cyclical	6.3%	11.7%
Basic Materials	1.2%	1.9%
Utilities	0.0%	6.2%
Real Estate	-	3.5%

Return for Risk

SCHD vs. JEPI — Risk / Return Rank

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

SCHD

SCHD Risk / Return Rank: 83
SCHD Sharpe Ratio Rank: 80
SCHD Sortino Ratio Rank: 88
SCHD Omega Ratio Rank: 78
SCHD Calmar Ratio Rank: 92
SCHD Martin Ratio Rank: 78

JEPI

JEPI Risk / Return Rank: 27
JEPI Sharpe Ratio Rank: 29
JEPI Sortino Ratio Rank: 28
JEPI Omega Ratio Rank: 28
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.

SCHD vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Dividend Equity ETF (SCHD) 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.

	SCHD	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	2.55	1.00	+1.55
Sortino ratio: Return per unit of downside risk	3.94	1.49	+2.44
Omega ratio: Gain probability vs. loss probability	1.46	1.18	+0.27
Calmar ratio: Return relative to maximum drawdown	6.07	1.18	+4.89
Martin ratio: Return relative to average drawdown	14.90	3.74	+11.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCHD vs. JEPI - Sharpe Ratio Comparison

The current SCHD Sharpe Ratio is 2.55, which is higher than the JEPI Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of SCHD 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

	SCHD	JEPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.55	1.00	+1.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.66	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	1.01	-0.15

Drawdowns

SCHD vs. JEPI - Drawdown Comparison

The maximum SCHD drawdown since its inception was -33.37%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for SCHD and JEPI.

Drawdown Indicators

	SCHD	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-33.37%	-13.71%	-19.66%
Max Drawdown (1Y) Largest decline over 1 year	-4.61%	-6.68%	+2.07%
Max Drawdown (3Y) Largest decline over 3 years	-16.13%	-13.26%	-2.87%
Max Drawdown (5Y) Largest decline over 5 years	-16.85%	-13.71%	-3.14%
Max Drawdown (10Y) Largest decline over 10 years	-33.37%	—	—
Current Drawdown Current decline from peak	-1.61%	-4.64%	+3.03%
Average Drawdown Average peak-to-trough decline	-3.32%	-2.12%	-1.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	2.11%	-0.23%

Volatility

SCHD vs. JEPI - Volatility Comparison

Schwab U.S. Dividend Equity ETF (SCHD) has a higher volatility of 2.87% compared to JPMorgan Equity Premium Income ETF (JEPI) at 1.49%. This indicates that SCHD'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

	SCHD	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.87%	1.49%	+1.38%
Volatility (6M) Calculated over the trailing 6-month period	7.61%	6.08%	+1.53%
Volatility (1Y) Calculated over the trailing 1-year period	10.98%	7.88%	+3.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.38%	11.05%	+3.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.72%	10.79%	+5.93%

SCHD vs. JEPI - Expense Ratio Comparison

SCHD has a 0.06% expense ratio, which is lower than JEPI's 0.35% expense ratio.

Dividends

SCHD vs. JEPI - Dividend Comparison

SCHD's dividend yield for the trailing twelve months is around 3.27%, less than JEPI's 8.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPI JPMorgan Equity Premium Income ETF	8.26%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%	0.00%	0.00%	0.00%	0.00%
SCHD Schwab U.S. Dividend Equity ETF	3.27%	3.82%	3.64%	3.49%	3.39%	2.78%	3.16%	2.98%	3.06%	2.63%	2.89%	2.97%

Frequently Asked Questions

Can I hold both SCHD and JEPI in my portfolio?

SCHD and JEPI have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCHD or JEPI?

SCHD has higher volatility (2.87%) compared to JEPI (1.49%). In terms of maximum drawdown, SCHD dropped -33.37% vs JEPI's -13.71%.

Which ETF is better, SCHD or JEPI?

On 5-year performance, SCHD leads with 8.31% vs 7.30% for JEPI. On fees, SCHD is cheaper at 0.06% per year. On volatility, JEPI has been the lower-risk option at 1.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHD or JEPI?

Over the 5-year period, SCHD has performed better with a 8.31% return vs 7.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHD or JEPI?

SCHD is cheaper with a 0.06% expense ratio, compared with 0.35% for JEPI.

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

JEPI has the higher dividend yield at 8.26%, compared with 3.27% for SCHD.

What is the main difference between SCHD and JEPI?

They also come from different issuers: Charles Schwab and JPMorgan. Their fees differ too: 0.06% for SCHD and 0.35% for JEPI.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.55 vs 1.00), 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.