SPY vs. JEPI
SPY (State Street SPDR S&P 500 ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds — SPY is a S&P 500 fund tracking the S&P 500 Index, while JEPI is a Actively Managed fund actively managed by JPMorgan. SPY is passively managed, while JEPI is actively managed. Over the past 5 years, SPY returned 11.96%/yr vs 8.68%/yr for JEPI. Their correlation of 0.80 suggests significant overlap in exposure. SPY charges 0.09%/yr vs 0.35%/yr for JEPI.
Performance
SPY vs. JEPI - Performance Comparison
Loading graphics...
Returns By Period
In the year-to-date period, SPY achieves a -0.60% return, which is significantly lower than JEPI's 2.60% return.
SPY
- 1D
- 2.55%
- 1M
- -0.06%
- YTD
- -0.60%
- 6M
- 1.00%
- 1Y
- 37.72%
- 3Y*
- 19.74%
- 5Y*
- 11.96%
- 10Y*
- 14.55%
JEPI
- 1D
- 1.93%
- 1M
- -0.58%
- YTD
- 2.60%
- 6M
- 5.27%
- 1Y
- 22.51%
- 3Y*
- 10.31%
- 5Y*
- 8.68%
- 10Y*
- —
SPY vs. JEPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SPY State Street SPDR S&P 500 ETF | -0.60% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 28.40% |
JEPI JPMorgan Equity Premium Income ETF | 2.60% | 8.09% | 12.57% | 9.83% | -3.49% | 21.52% | 18.61% |
Correlation
The correlation between SPY and JEPI is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification — they'll tend to fall together during downturns. For meaningful risk reduction, look for holdings with correlations below 0.5.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since May 22, 2020 | 0.80 |
SPY vs. JEPI - Expense Ratio Comparison
SPY has a 0.09% expense ratio, which is lower than JEPI's 0.35% expense ratio.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SPY vs. JEPI — Risk / Return Rank
SPY
JEPI
SPY vs. JEPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P 500 ETF (SPY) 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.
| SPY | JEPI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.18 | 1.96 | +0.22 |
Sortino ratioReturn per unit of downside risk | 3.49 | 3.37 | +0.12 |
Omega ratioGain probability vs. loss probability | 1.50 | 1.47 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 3.98 | 3.02 | +0.96 |
Martin ratioReturn relative to average drawdown | 17.31 | 13.22 | +4.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| SPY | JEPI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.18 | 1.96 | +0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.70 | 0.79 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.81 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 1.07 | -0.50 |
Drawdowns
SPY vs. JEPI - Drawdown Comparison
The maximum SPY drawdown since its inception was -55.19%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for SPY and JEPI.
Loading graphics...
Drawdown Indicators
| SPY | JEPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.19% | -13.71% | -41.48% |
Max Drawdown (1Y)Largest decline over 1 year | -8.88% | -6.68% | -2.20% |
Max Drawdown (5Y)Largest decline over 5 years | -24.50% | -13.71% | -10.79% |
Max Drawdown (10Y)Largest decline over 10 years | -33.72% | — | — |
Current DrawdownCurrent decline from peak | -2.54% | -2.50% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -9.09% | -2.08% | -7.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.04% | 1.53% | +0.51% |
Volatility
SPY vs. JEPI - Volatility Comparison
State Street SPDR S&P 500 ETF (SPY) has a higher volatility of 5.71% compared to JPMorgan Equity Premium Income ETF (JEPI) at 4.24%. This indicates that SPY'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.
Loading graphics...
Volatility by Period
| SPY | JEPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.71% | 4.24% | +1.47% |
Volatility (6M)Calculated over the trailing 6-month period | 9.83% | 6.64% | +3.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.58% | 11.72% | +5.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.08% | 11.09% | +5.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.93% | 10.90% | +7.03% |
Dividends
SPY vs. JEPI - Dividend Comparison
SPY's dividend yield for the trailing twelve months is around 1.09%, less than JEPI's 8.29% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPY State Street SPDR S&P 500 ETF | 1.09% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
JEPI JPMorgan Equity Premium Income ETF | 8.29% | 8.25% | 7.33% | 8.40% | 11.68% | 6.59% | 5.79% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |