SPICHA.SW vs. JEPI

Last updated Jul 22, 2026

SPICHA.SW (UBS Core SPI ETF CHF dis) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - SPICHA.SW is a Europe Equities fund tracking the Swiss Performance Index (SPI), while JEPI is a Dividend fund actively managed by JPMorgan. SPICHA.SW is passively managed, while JEPI is actively managed. Over the past 5 years, SPICHA.SW returned 5.26%/yr vs 4.65%/yr for JEPI. At a 0.27 correlation, their price movements are largely independent. SPICHA.SW charges 0.10%/yr vs 0.35%/yr for JEPI.

Performance

SPICHA.SW vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a CHF 10,000 investment in UBS Core SPI ETF CHF dis (SPICHA.SW) and JPMorgan Equity Premium Income ETF (JEPI). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SPICHA.SW is traded in CHF, while JEPI is traded in USD. To make them comparable, the JEPI values have been converted to CHF using the latest available exchange rates.

Returns By Period

In the year-to-date period, SPICHA.SW achieves a 9.82% return, which is significantly higher than JEPI's 5.55% return.

SPICHA.SW

• 1D: 0.00%
• 1M: 2.88%
• 6M: 9.99%
• YTD: 9.82%
• 1Y: 19.78%
• 3Y*: 10.54%
• 5Y*: 5.26%
• 10Y*: 8.36%
• ALL TIME*: 8.68%

JEPI

• 1D: 0.81%
• 1M: 2.71%
• 6M: 5.32%
• YTD: 5.55%
• 1Y: 9.89%
• 3Y*: 6.41%
• 5Y*: 4.65%
• 10Y*: —
• ALL TIME*: 7.93%

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

SPICHA.SW vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SPICHA.SW UBS Core SPI ETF CHF dis	9.82%	17.65%	6.05%	5.82%	-16.70%	23.29%	9.12%
JEPI JPMorgan Equity Premium Income ETF	5.55%	-5.55%	21.44%	-0.01%	-2.17%	25.10%	8.04%

Correlation

The correlation between SPICHA.SW and JEPI is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (All Time) Calculated using the full available price history since May 21, 2020	0.27

Return for Risk

SPICHA.SW vs. JEPI — Risk / Return Rank

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

SPICHA.SW

SPICHA.SW Risk / Return Rank: 65
SPICHA.SW Sharpe Ratio Rank: 73
SPICHA.SW Sortino Ratio Rank: 74
SPICHA.SW Omega Ratio Rank: 74
SPICHA.SW Calmar Ratio Rank: 50
SPICHA.SW Martin Ratio Rank: 57

JEPI

JEPI Risk / Return Rank: 34
JEPI Sharpe Ratio Rank: 36
JEPI Sortino Ratio Rank: 36
JEPI Omega Ratio Rank: 35
JEPI Calmar Ratio Rank: 32
JEPI Martin Ratio Rank: 32

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.

SPICHA.SW vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS Core SPI ETF CHF dis (SPICHA.SW) 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.

	SPICHA.SW	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	1.76	0.98	+0.78
Sortino ratio: Return per unit of downside risk	2.52	1.36	+1.17
Omega ratio: Gain probability vs. loss probability	1.33	1.18	+0.14
Calmar ratio: Return relative to maximum drawdown	1.90	1.99	-0.08
Martin ratio: Return relative to average drawdown	7.24	5.08	+2.16

SPICHA.SW vs. JEPI - Sharpe Ratio Comparison

The current SPICHA.SW Sharpe Ratio is 1.76, which is higher than the JEPI Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of SPICHA.SW 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

SPICHA.SW vs. JEPI - Drawdown Comparison

The maximum SPICHA.SW drawdown since its inception was -26.92%, which is greater than JEPI's maximum drawdown of -20.13%. Use the drawdown chart below to compare losses from any high point for SPICHA.SW and JEPI.

Drawdown Indicators

	SPICHA.SW	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-26.92%	-20.13%	-6.79%
Max Drawdown (1Y) Largest decline over 1 year	-10.52%	-4.99%	-5.53%
Max Drawdown (3Y) Largest decline over 3 years	-15.90%	-20.13%	+4.23%
Max Drawdown (5Y) Largest decline over 5 years	-21.48%	-20.13%	-1.35%
Max Drawdown (10Y) Largest decline over 10 years	-26.92%	—	—
Current Drawdown Current decline from peak	-1.45%	-4.23%	+2.78%
Average Drawdown Average peak-to-trough decline	-5.17%	-4.45%	-0.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	1.95%	+0.80%

Volatility

SPICHA.SW vs. JEPI - Volatility Comparison

UBS Core SPI ETF CHF dis (SPICHA.SW) has a higher volatility of 3.11% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.65%. This indicates that SPICHA.SW'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

	SPICHA.SW	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.11%	2.65%	+0.46%
Volatility (6M) Calculated over the trailing 6-month period	9.29%	7.81%	+1.48%
Volatility (1Y) Calculated over the trailing 1-year period	11.41%	10.17%	+1.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.21%	13.35%	-0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.77%	12.84%	+0.93%

SPICHA.SW vs. JEPI - Expense Ratio Comparison

SPICHA.SW has a 0.10% expense ratio, which is lower than JEPI's 0.35% expense ratio.

Dividends

SPICHA.SW vs. JEPI - Dividend Comparison

SPICHA.SW's dividend yield for the trailing twelve months is around 2.45%, less than JEPI's 8.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPI JPMorgan Equity Premium Income ETF	8.07%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%	0.00%	0.00%	0.00%	0.00%
SPICHA.SW UBS Core SPI ETF CHF dis	2.45%	2.64%	2.96%	2.94%	2.83%	2.26%	2.55%	2.60%	3.21%	2.62%	3.04%	2.87%

Frequently Asked Questions

Can I hold both SPICHA.SW and JEPI in my portfolio?

SPICHA.SW and JEPI have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPICHA.SW or JEPI?

On fees, SPICHA.SW is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPICHA.SW or JEPI?

SPICHA.SW is cheaper with a 0.10% expense ratio, compared with 0.35% for JEPI.

What is the main difference between SPICHA.SW and JEPI?

SPICHA.SW is categorized as Europe Equities, while JEPI is Dividend. They also come from different issuers: UBS and JPMorgan. Their fees differ too: 0.10% for SPICHA.SW and 0.35% for JEPI.