SOAEX vs. JEPI

Last updated Jun 24, 2026

SOAEX (Spirit of America Energy Fund) and JEPI (JPMorgan Equity Premium Income ETF) are both funds - SOAEX is a Energy Equities fund managed by Spirit of America, while JEPI is a Dividend fund actively managed by JPMorgan. Over the past 5 years, SOAEX returned 18.05%/yr vs 7.31%/yr for JEPI. At a 0.42 correlation, their price movements are largely independent. SOAEX charges 1.50%/yr vs 0.35%/yr for JEPI.

Performance

SOAEX vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Spirit of America Energy Fund (SOAEX) 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, SOAEX achieves a 23.07% return, which is significantly higher than JEPI's 0.91% return.

SOAEX

• 1D: 1.38%
• 1M: -5.30%
• YTD: 23.07%
• 6M: 22.73%
• 1Y: 26.90%
• 3Y*: 21.93%
• 5Y*: 18.05%
• 10Y*: 33.25%

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)

SOAEX vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SOAEX Spirit of America Energy Fund	23.07%	6.05%	19.30%	13.10%	30.26%	34.19%	-0.21%
JEPI JPMorgan Equity Premium Income ETF	0.91%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.39%

Correlation

The correlation between SOAEX and JEPI is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (All Time) Calculated using the full available price history since May 21, 2020	0.42

Over the past year, the correlation between SOAEX and JEPI has dropped to 0.20 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.

Return for Risk

SOAEX vs. JEPI — Risk / Return Rank

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

SOAEX

SOAEX Risk / Return Rank: 41
SOAEX Sharpe Ratio Rank: 34
SOAEX Sortino Ratio Rank: 31
SOAEX Omega Ratio Rank: 29
SOAEX Calmar Ratio Rank: 70
SOAEX Martin Ratio Rank: 42

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.

SOAEX vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Spirit of America Energy Fund (SOAEX) 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.

	SOAEX	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	1.56	0.97	+0.59
Sortino ratio: Return per unit of downside risk	2.15	1.45	+0.70
Omega ratio: Gain probability vs. loss probability	1.26	1.18	+0.08
Calmar ratio: Return relative to maximum drawdown	3.09	1.17	+1.92
Martin ratio: Return relative to average drawdown	8.45	3.44	+5.00

SOAEX vs. JEPI - Sharpe Ratio Comparison

The current SOAEX Sharpe Ratio is 1.56, which is higher than the JEPI Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of SOAEX 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

SOAEX vs. JEPI - Drawdown Comparison

The maximum SOAEX drawdown since its inception was -67.07%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for SOAEX and JEPI.

Drawdown Indicators

	SOAEX	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-67.07%	-13.71%	-53.36%
Max Drawdown (1Y) Largest decline over 1 year	-8.03%	-6.68%	-1.35%
Max Drawdown (3Y) Largest decline over 3 years	-19.30%	-13.26%	-6.04%
Max Drawdown (5Y) Largest decline over 5 years	-20.84%	-13.71%	-7.13%
Max Drawdown (10Y) Largest decline over 10 years	-67.07%	—	—
Current Drawdown Current decline from peak	-6.17%	-4.11%	-2.06%
Average Drawdown Average peak-to-trough decline	-14.84%	-2.13%	-12.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	2.26%	+0.68%

Volatility

SOAEX vs. JEPI - Volatility Comparison

Spirit of America Energy Fund (SOAEX) has a higher volatility of 5.31% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.38%. This indicates that SOAEX'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

	SOAEX	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	2.38%	+2.93%
Volatility (6M) Calculated over the trailing 6-month period	12.46%	6.29%	+6.17%
Volatility (1Y) Calculated over the trailing 1-year period	15.89%	8.03%	+7.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.89%	11.08%	+8.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.73%	10.78%	+86.95%

SOAEX vs. JEPI - Expense Ratio Comparison

SOAEX has a 1.50% expense ratio, which is higher than JEPI's 0.35% expense ratio.

Dividends

SOAEX vs. JEPI - Dividend Comparison

SOAEX's dividend yield for the trailing twelve months is around 11.97%, more than JEPI's 8.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%
SOAEX Spirit of America Energy Fund	11.97%	13.91%	26.36%	24.88%	22.14%	23.25%	21.16%	20.73%	15.62%	17.90%	13.40%	14.76%

Frequently Asked Questions

Can I hold both SOAEX and JEPI in my portfolio?

SOAEX and JEPI have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOAEX or JEPI?

SOAEX has higher volatility (5.31%) compared to JEPI (2.38%). In terms of maximum drawdown, SOAEX dropped -67.07% vs JEPI's -13.71%.

Which has better risk-adjusted returns?

SOAEX currently has the higher Sharpe Ratio (1.56 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.