STFAX vs. JEPIX

Last updated Jul 17, 2026

STFAX (State Street Equity 500 Index Fund) and JEPIX (JPMorgan Equity Premium Income Fund Class I) are both mutual funds - STFAX is a Large Cap Blend Equities fund managed by State Street, while JEPIX is a Derivative Income fund actively managed by JPMorgan. Over the past 5 years, STFAX returned 13.24%/yr vs 7.07%/yr for JEPIX. A 0.76 correlation means they provide meaningful diversification when combined. STFAX charges 0.17%/yr vs 0.59%/yr for JEPIX.

Performance

STFAX vs. JEPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Equity 500 Index Fund (STFAX) 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, STFAX achieves a 11.21% return, which is significantly higher than JEPIX's 2.63% return.

STFAX

• 1D: 0.39%
• 1M: 0.86%
• 6M: 9.58%
• YTD: 11.21%
• 1Y: 22.11%
• 3Y*: 20.28%
• 5Y*: 13.24%
• 10Y*: 15.02%

JEPIX

• 1D: 0.07%
• 1M: 0.85%
• 6M: 0.87%
• YTD: 2.63%
• 1Y: 8.13%
• 3Y*: 8.81%
• 5Y*: 7.07%
• 10Y*: —

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

STFAX vs. JEPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
STFAX State Street Equity 500 Index Fund	11.21%	17.63%	24.80%	26.09%	-18.28%	28.31%	18.14%	31.13%	-13.05%
JEPIX JPMorgan Equity Premium Income Fund Class I	2.63%	7.82%	12.43%	9.68%	-3.81%	19.36%	6.02%	16.44%	-9.93%

Correlation

The correlation between STFAX and JEPIX is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Sep 4, 2018	0.76

Over the past year, the correlation between STFAX and JEPIX has dropped to 0.56 - well below their long-term average of 0.76, suggesting their price drivers have been diverging.

Return for Risk

STFAX vs. JEPIX — Risk / Return Rank

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

STFAX

STFAX Risk / Return Rank: 65
STFAX Sharpe Ratio Rank: 63
STFAX Sortino Ratio Rank: 59
STFAX Omega Ratio Rank: 61
STFAX Calmar Ratio Rank: 65
STFAX Martin Ratio Rank: 76

JEPIX

JEPIX Risk / Return Rank: 20
JEPIX Sharpe Ratio Rank: 21
JEPIX Sortino Ratio Rank: 23
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.

STFAX vs. JEPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Equity 500 Index Fund (STFAX) 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.

	STFAX	JEPIX	Difference
Sharpe ratio: Return per unit of total volatility	1.80	0.98	+0.83
Sortino ratio: Return per unit of downside risk	2.47	1.52	+0.95
Omega ratio: Gain probability vs. loss probability	1.33	1.19	+0.14
Calmar ratio: Return relative to maximum drawdown	2.54	1.14	+1.39
Martin ratio: Return relative to average drawdown	11.11	3.30	+7.81

STFAX vs. JEPIX - Sharpe Ratio Comparison

The current STFAX Sharpe Ratio is 1.80, which is higher than the JEPIX Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of STFAX 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

STFAX vs. JEPIX - Drawdown Comparison

The maximum STFAX drawdown since its inception was -57.29%, which is greater than JEPIX's maximum drawdown of -32.63%. Use the drawdown chart below to compare losses from any high point for STFAX and JEPIX.

Drawdown Indicators

	STFAX	JEPIX	Difference
Max Drawdown Largest peak-to-trough decline	-57.29%	-32.63%	-24.66%
Max Drawdown (1Y) Largest decline over 1 year	-8.91%	-7.41%	-1.50%
Max Drawdown (3Y) Largest decline over 3 years	-18.76%	-13.42%	-5.34%
Max Drawdown (5Y) Largest decline over 5 years	-24.57%	-13.67%	-10.90%
Max Drawdown (10Y) Largest decline over 10 years	-33.76%	—	—
Current Drawdown Current decline from peak	-0.37%	-2.54%	+2.17%
Average Drawdown Average peak-to-trough decline	-10.16%	-3.21%	-6.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.03%	2.56%	-0.53%

Volatility

STFAX vs. JEPIX - Volatility Comparison

State Street Equity 500 Index Fund (STFAX) has a higher volatility of 3.61% compared to JPMorgan Equity Premium Income Fund Class I (JEPIX) at 2.09%. This indicates that STFAX'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

	STFAX	JEPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	2.09%	+1.52%
Volatility (6M) Calculated over the trailing 6-month period	9.98%	7.03%	+2.95%
Volatility (1Y) Calculated over the trailing 1-year period	12.54%	8.71%	+3.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.99%	11.48%	+5.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.02%	14.67%	+3.35%

STFAX vs. JEPIX - Expense Ratio Comparison

STFAX has a 0.17% expense ratio, which is lower than JEPIX's 0.59% expense ratio.

Dividends

STFAX vs. JEPIX - Dividend Comparison

STFAX's dividend yield for the trailing twelve months is around 1.16%, less than JEPIX's 8.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPIX JPMorgan Equity Premium Income Fund Class I	8.00%	8.12%	7.20%	8.42%	12.24%	6.15%	11.59%	3.91%	0.00%	0.00%	0.00%	0.00%
STFAX State Street Equity 500 Index Fund	1.16%	1.29%	1.47%	1.63%	2.01%	2.61%	1.71%	4.28%	5.02%	5.78%	1.92%	1.69%

Frequently Asked Questions

Can I hold both STFAX and JEPIX in my portfolio?

STFAX and JEPIX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, STFAX or JEPIX?

STFAX has higher volatility (3.61%) compared to JEPIX (2.09%). In terms of maximum drawdown, STFAX dropped -57.29% vs JEPIX's -32.63%.

Which has better risk-adjusted returns?

STFAX currently has the higher Sharpe Ratio (1.80 vs 0.98), 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.