TXRIX vs. JEPIX

Last updated Jun 4, 2026

TXRIX (JPMorgan Tax Aware Real Return Fund) and JEPIX (JPMorgan Equity Premium Income Fund Class I) are both mutual funds - TXRIX is a Municipal Bonds fund managed by JPMorgan, while JEPIX is a Derivative Income fund managed by JPMorgan. Over the past 5 years, TXRIX returned 2.15%/yr vs 7.14%/yr for JEPIX. At a 0.21 correlation, their price movements are largely independent. TXRIX charges 0.49%/yr vs 0.63%/yr for JEPIX.

Performance

TXRIX vs. JEPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Tax Aware Real Return Fund (TXRIX) 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, TXRIX achieves a 1.91% return, which is significantly higher than JEPIX's -0.05% return.

TXRIX

• 1D: 0.11%
• 1M: 0.40%
• YTD: 1.91%
• 6M: 1.90%
• 1Y: 6.31%
• 3Y*: 3.84%
• 5Y*: 2.15%
• 10Y*: —

JEPIX

• 1D: 0.00%
• 1M: -1.65%
• YTD: -0.05%
• 6M: 0.32%
• 1Y: 7.44%
• 3Y*: 8.65%
• 5Y*: 7.14%
• 10Y*: —

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

TXRIX vs. JEPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TXRIX JPMorgan Tax Aware Real Return Fund	1.91%	3.71%	2.47%	4.93%	-5.77%	8.53%	2.54%	5.54%	-1.84%
JEPIX JPMorgan Equity Premium Income Fund Class I	-0.05%	7.82%	12.43%	9.68%	-3.81%	19.36%	6.02%	16.44%	-9.93%

Correlation

The correlation between TXRIX and JEPIX is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (All Time) Calculated using the full available price history since Sep 5, 2018	0.21

Return for Risk

TXRIX vs. JEPIX — Risk / Return Rank

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

TXRIX

TXRIX Risk / Return Rank: 78
TXRIX Sharpe Ratio Rank: 88
TXRIX Sortino Ratio Rank: 90
TXRIX Omega Ratio Rank: 94
TXRIX Calmar Ratio Rank: 54
TXRIX Martin Ratio Rank: 65

JEPIX

JEPIX Risk / Return Rank: 12
JEPIX Sharpe Ratio Rank: 12
JEPIX Sortino Ratio Rank: 12
JEPIX Omega Ratio Rank: 12
JEPIX Calmar Ratio Rank: 10
JEPIX Martin Ratio Rank: 11

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.

TXRIX vs. JEPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Tax Aware Real Return Fund (TXRIX) 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.

	TXRIX	JEPIX	Difference
Sharpe ratio: Return per unit of total volatility	2.92	0.90	+2.02
Sortino ratio: Return per unit of downside risk	4.40	1.41	+2.98
Omega ratio: Gain probability vs. loss probability	1.73	1.17	+0.56
Calmar ratio: Return relative to maximum drawdown	2.82	1.04	+1.78
Martin ratio: Return relative to average drawdown	12.63	3.45	+9.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TXRIX vs. JEPIX - Sharpe Ratio Comparison

The current TXRIX Sharpe Ratio is 2.92, which is higher than the JEPIX Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of TXRIX 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.

Sharpe Ratios by Period

	TXRIX	JEPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.92	0.90	+2.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.63	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	0.48	+0.35

Drawdowns

TXRIX vs. JEPIX - Drawdown Comparison

The maximum TXRIX drawdown since its inception was -16.51%, smaller than the maximum JEPIX drawdown of -32.63%. Use the drawdown chart below to compare losses from any high point for TXRIX and JEPIX.

Drawdown Indicators

	TXRIX	JEPIX	Difference
Max Drawdown Largest peak-to-trough decline	-16.51%	-32.63%	+16.12%
Max Drawdown (1Y) Largest decline over 1 year	-2.21%	-7.41%	+5.20%
Max Drawdown (3Y) Largest decline over 3 years	-4.12%	-13.42%	+9.30%
Max Drawdown (5Y) Largest decline over 5 years	-9.74%	-13.67%	+3.93%
Current Drawdown Current decline from peak	0.00%	-5.09%	+5.09%
Average Drawdown Average peak-to-trough decline	-1.76%	-3.21%	+1.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.49%	2.23%	-1.74%

Volatility

TXRIX vs. JEPIX - Volatility Comparison

The current volatility for JPMorgan Tax Aware Real Return Fund (TXRIX) is 0.82%, while JPMorgan Equity Premium Income Fund Class I (JEPIX) has a volatility of 1.49%. This indicates that TXRIX experiences smaller price fluctuations and is considered to be less risky than JEPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TXRIX	JEPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.82%	1.49%	-0.67%
Volatility (6M) Calculated over the trailing 6-month period	1.64%	6.76%	-5.12%
Volatility (1Y) Calculated over the trailing 1-year period	2.14%	8.54%	-6.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.60%	11.46%	-7.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.53%	14.75%	-10.22%

TXRIX vs. JEPIX - Expense Ratio Comparison

TXRIX has a 0.49% expense ratio, which is lower than JEPIX's 0.63% expense ratio.

Dividends

TXRIX vs. JEPIX - Dividend Comparison

TXRIX's dividend yield for the trailing twelve months is around 3.21%, less than JEPIX's 8.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JEPIX JPMorgan Equity Premium Income Fund Class I	8.17%	8.12%	7.20%	8.42%	12.24%	6.15%	11.59%	3.91%	0.00%	0.00%
TXRIX JPMorgan Tax Aware Real Return Fund	3.21%	3.20%	3.32%	3.17%	2.04%	1.47%	2.22%	2.56%	2.85%	12.76%

Frequently Asked Questions

Can I hold both TXRIX and JEPIX in my portfolio?

TXRIX and JEPIX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TXRIX or JEPIX?

JEPIX has higher volatility (1.49%) compared to TXRIX (0.82%). In terms of maximum drawdown, TXRIX dropped -16.51% vs JEPIX's -32.63%.

Which has better risk-adjusted returns?

TXRIX currently has the higher Sharpe Ratio (2.92 vs 0.90), 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.