VWENX vs. JEPI

Last updated Jun 13, 2026

VWENX (Vanguard Wellington Fund Admiral Shares) and JEPI (JPMorgan Equity Premium Income ETF) are both funds - VWENX is a Diversified Portfolio fund actively managed by Vanguard, while JEPI is a Dividend fund actively managed by JPMorgan. Both are actively managed. Over the past 5 years, VWENX returned 8.43%/yr vs 7.45%/yr for JEPI. A 0.79 correlation means they provide meaningful diversification when combined. VWENX charges 0.16%/yr vs 0.35%/yr for JEPI.

Performance

VWENX vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Wellington Fund Admiral Shares (VWENX) and JPMorgan Equity Premium Income ETF (JEPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VWENX achieves a 5.10% return, which is significantly higher than JEPI's 1.29% return.

VWENX

• 1D: 1.32%
• 1M: -0.63%
• YTD: 5.10%
• 6M: 5.87%
• 1Y: 17.34%
• 3Y*: 14.75%
• 5Y*: 8.43%
• 10Y*: 10.13%

JEPI

• 1D: 0.43%
• 1M: 0.90%
• YTD: 1.29%
• 6M: 1.18%
• 1Y: 7.58%
• 3Y*: 9.13%
• 5Y*: 7.45%
• 10Y*: —

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

VWENX vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
VWENX Vanguard Wellington Fund Admiral Shares	5.10%	16.63%	14.82%	14.40%	-14.31%	19.09%	17.83%
JEPI JPMorgan Equity Premium Income ETF	1.29%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.39%

Correlation

The correlation between VWENX and JEPI is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since May 21, 2020	0.79

The correlation between VWENX and JEPI shifts across timeframes, from 0.59 (1 year) to 0.79 (5 years), reflecting how their relationship changes across market environments.

VWENX vs. JEPI - Sectors Allocation Comparison

Sectors	VWENX	JEPI
Technology	31.8%	19.1%
Communication Services	12.3%	6.9%
Consumer Cyclical	10.9%	11.7%
Financial Services	10.6%	9.8%
Healthcare	9.8%	14.1%
Industrials	8.5%	13.8%
Consumer Defensive	4.4%	9.6%
Energy	4.4%	3.5%
Real Estate	2.6%	3.5%
Utilities	2.5%	6.2%
Basic Materials	2.1%	1.9%

Return for Risk

VWENX vs. JEPI — Risk / Return Rank

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

VWENX

VWENX Risk / Return Rank: 74
VWENX Sharpe Ratio Rank: 74
VWENX Sortino Ratio Rank: 72
VWENX Omega Ratio Rank: 73
VWENX Calmar Ratio Rank: 70
VWENX Martin Ratio Rank: 81

JEPI

JEPI Risk / Return Rank: 28
JEPI Sharpe Ratio Rank: 30
JEPI Sortino Ratio Rank: 29
JEPI Omega Ratio Rank: 28
JEPI Calmar Ratio Rank: 27
JEPI Martin Ratio Rank: 28

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.

VWENX vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Wellington Fund Admiral Shares (VWENX) 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.

	VWENX	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	2.02	0.95	+1.07
Sortino ratio: Return per unit of downside risk	2.80	1.42	+1.38
Omega ratio: Gain probability vs. loss probability	1.38	1.17	+0.20
Calmar ratio: Return relative to maximum drawdown	2.64	1.14	+1.50
Martin ratio: Return relative to average drawdown	11.92	3.46	+8.46

VWENX vs. JEPI - Sharpe Ratio Comparison

The current VWENX Sharpe Ratio is 2.02, which is higher than the JEPI Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of VWENX 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

VWENX vs. JEPI - Drawdown Comparison

The maximum VWENX drawdown since its inception was -36.02%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for VWENX and JEPI.

Drawdown Indicators

	VWENX	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-36.02%	-13.71%	-22.31%
Max Drawdown (1Y) Largest decline over 1 year	-6.77%	-6.68%	-0.09%
Max Drawdown (3Y) Largest decline over 3 years	-11.98%	-13.26%	+1.28%
Max Drawdown (5Y) Largest decline over 5 years	-20.84%	-13.71%	-7.13%
Max Drawdown (10Y) Largest decline over 10 years	-25.33%	—	—
Current Drawdown Current decline from peak	-1.92%	-3.75%	+1.83%
Average Drawdown Average peak-to-trough decline	-4.35%	-2.13%	-2.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.50%	2.20%	-0.70%

Volatility

VWENX vs. JEPI - Volatility Comparison

Vanguard Wellington Fund Admiral Shares (VWENX) has a higher volatility of 3.50% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.05%. This indicates that VWENX'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

	VWENX	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.50%	2.05%	+1.45%
Volatility (6M) Calculated over the trailing 6-month period	7.21%	6.23%	+0.98%
Volatility (1Y) Calculated over the trailing 1-year period	8.83%	8.02%	+0.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.20%	11.08%	+0.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.56%	10.79%	+0.77%

VWENX vs. JEPI - Expense Ratio Comparison

VWENX has a 0.16% expense ratio, which is lower than JEPI's 0.35% expense ratio.

Dividends

VWENX vs. JEPI - Dividend Comparison

VWENX's dividend yield for the trailing twelve months is around 11.05%, more than JEPI's 8.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPI JPMorgan Equity Premium Income ETF	8.18%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%	0.00%	0.00%	0.00%	0.00%
VWENX Vanguard Wellington Fund Admiral Shares	11.05%	11.55%	10.85%	6.08%	8.28%	8.72%	7.85%	4.74%	9.58%	5.88%	4.53%	6.58%

Frequently Asked Questions

Can I hold both VWENX and JEPI in my portfolio?

VWENX and JEPI have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VWENX or JEPI?

VWENX has higher volatility (3.50%) compared to JEPI (2.05%). In terms of maximum drawdown, VWENX dropped -36.02% vs JEPI's -13.71%.

Which has better risk-adjusted returns?

VWENX currently has the higher Sharpe Ratio (2.02 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.