SPFFX vs. JEPIX

Last updated Jul 15, 2026

SPFFX (Sphere 500 Fossil Free Fund) and JEPIX (JPMorgan Equity Premium Income Fund Class I) are both mutual funds - SPFFX is a Large Cap Blend Equities fund managed by Reflection Asset Management, while JEPIX is a Derivative Income fund actively managed by JPMorgan. Over the past 3 years, SPFFX returned 20.67%/yr vs 8.94%/yr for JEPIX. A 0.71 correlation means they provide meaningful diversification when combined. SPFFX charges 0.11%/yr vs 0.59%/yr for JEPIX.

Performance

SPFFX vs. JEPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sphere 500 Fossil Free Fund (SPFFX) and JPMorgan Equity Premium Income Fund Class I (JEPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPFFX achieves a 10.47% return, which is significantly higher than JEPIX's 3.00% return.

SPFFX

• 1D: -1.01%
• 1M: 1.33%
• 6M: 9.06%
• YTD: 10.47%
• 1Y: 21.40%
• 3Y*: 20.67%
• 5Y*: —
• 10Y*: —

JEPIX

• 1D: 0.00%
• 1M: 1.94%
• 6M: 1.44%
• YTD: 3.00%
• 1Y: 8.13%
• 3Y*: 8.94%
• 5Y*: 7.19%
• 10Y*: —

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

SPFFX vs. JEPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SPFFX Sphere 500 Fossil Free Fund	10.47%	18.12%	25.13%	29.48%	-20.03%	9.04%
JEPIX JPMorgan Equity Premium Income Fund Class I	3.00%	7.82%	12.43%	9.68%	-3.81%	8.80%

Correlation

The correlation between SPFFX and JEPIX is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (All Time) Calculated using the full available price history since Oct 5, 2021	0.71

The correlation between SPFFX and JEPIX shifts across timeframes, from 0.51 (1 year) to 0.71 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SPFFX vs. JEPIX — Risk / Return Rank

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

SPFFX

SPFFX Risk / Return Rank: 47
SPFFX Sharpe Ratio Rank: 48
SPFFX Sortino Ratio Rank: 44
SPFFX Omega Ratio Rank: 46
SPFFX Calmar Ratio Rank: 43
SPFFX Martin Ratio Rank: 52

JEPIX

JEPIX Risk / Return Rank: 20
JEPIX Sharpe Ratio Rank: 20
JEPIX Sortino Ratio Rank: 22
JEPIX Omega Ratio Rank: 22
JEPIX Calmar Ratio Rank: 18
JEPIX Martin Ratio Rank: 17

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.

SPFFX vs. JEPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sphere 500 Fossil Free Fund (SPFFX) and JPMorgan Equity Premium Income Fund Class I (JEPIX). 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.

	SPFFX	JEPIX	Difference
Sharpe ratio: Return per unit of total volatility	1.54	0.95	+0.60
Sortino ratio: Return per unit of downside risk	2.13	1.48	+0.66
Omega ratio: Gain probability vs. loss probability	1.28	1.18	+0.10
Calmar ratio: Return relative to maximum drawdown	2.01	1.11	+0.90
Martin ratio: Return relative to average drawdown	8.32	3.22	+5.10

SPFFX vs. JEPIX - Sharpe Ratio Comparison

The current SPFFX Sharpe Ratio is 1.54, which is higher than the JEPIX Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of SPFFX and JEPIX, 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

SPFFX vs. JEPIX - Drawdown Comparison

The maximum SPFFX drawdown since its inception was -25.11%, smaller than the maximum JEPIX drawdown of -32.63%. Use the drawdown chart below to compare losses from any high point for SPFFX and JEPIX.

Drawdown Indicators

	SPFFX	JEPIX	Difference
Max Drawdown Largest peak-to-trough decline	-25.11%	-32.63%	+7.52%
Max Drawdown (1Y) Largest decline over 1 year	-10.75%	-7.41%	-3.34%
Max Drawdown (3Y) Largest decline over 3 years	-19.97%	-13.42%	-6.55%
Max Drawdown (5Y) Largest decline over 5 years	—	-13.67%	—
Current Drawdown Current decline from peak	-1.53%	-2.19%	+0.66%
Average Drawdown Average peak-to-trough decline	-6.30%	-3.21%	-3.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	2.55%	+0.05%

Volatility

SPFFX vs. JEPIX - Volatility Comparison

Sphere 500 Fossil Free Fund (SPFFX) has a higher volatility of 4.61% compared to JPMorgan Equity Premium Income Fund Class I (JEPIX) at 2.20%. This indicates that SPFFX's price experiences larger fluctuations and is considered to be riskier than JEPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPFFX	JEPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.61%	2.20%	+2.41%
Volatility (6M) Calculated over the trailing 6-month period	11.36%	7.02%	+4.34%
Volatility (1Y) Calculated over the trailing 1-year period	14.07%	8.71%	+5.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.18%	11.48%	+5.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.18%	14.68%	+2.50%

SPFFX vs. JEPIX - Expense Ratio Comparison

SPFFX has a 0.11% expense ratio, which is lower than JEPIX's 0.59% expense ratio.

Dividends

SPFFX vs. JEPIX - Dividend Comparison

SPFFX's dividend yield for the trailing twelve months is around 6.16%, less than JEPIX's 7.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
JEPIX JPMorgan Equity Premium Income Fund Class I	7.97%	8.12%	7.20%	8.42%	12.24%	6.15%	11.59%	3.91%
SPFFX Sphere 500 Fossil Free Fund	6.16%	6.80%	1.06%	1.32%	0.73%	0.14%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPFFX and JEPIX in my portfolio?

SPFFX and JEPIX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPFFX or JEPIX?

SPFFX has higher volatility (4.61%) compared to JEPIX (2.20%). In terms of maximum drawdown, SPFFX dropped -25.11% vs JEPIX's -32.63%.

Which has better risk-adjusted returns?

SPFFX currently has the higher Sharpe Ratio (1.54 vs 0.95), 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.