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XBAL.TO vs. JEPI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XBAL.TO vs. JEPI

Last updated Jun 9, 2026

XBAL.TO (iShares Core Balanced ETF Portfolio) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - XBAL.TO is a Diversified Portfolio fund actively managed by iShares, while JEPI is a Dividend fund actively managed by JPMorgan. Both are actively managed. Over the past 5 years, XBAL.TO returned 7.96%/yr vs 10.34%/yr for JEPI. A 0.56 correlation means they provide meaningful diversification when combined. XBAL.TO charges 0.20%/yr vs 0.35%/yr for JEPI.

Performance

XBAL.TO vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core Balanced ETF Portfolio (XBAL.TO) and JPMorgan Equity Premium Income ETF (JEPI). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XBAL.TO is traded in CAD, while JEPI is traded in USD. To make them comparable, the JEPI values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XBAL.TO achieves a 7.00% return, which is significantly higher than JEPI's 1.83% return.

XBAL.TO

1D
-1.00%
1M
1.25%
YTD
7.00%
6M
5.87%
1Y
16.40%
3Y*
14.11%
5Y*
7.96%
10Y*
7.64%

JEPI

1D
-0.07%
1M
1.63%
YTD
1.83%
6M
1.67%
1Y
9.16%
3Y*
10.34%
5Y*
10.34%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XBAL.TO vs. JEPI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
XBAL.TO
iShares Core Balanced ETF Portfolio		7.00%11.90%15.80%13.05%-11.16%10.16%13.65%
JEPI
JPMorgan Equity Premium Income ETF		1.87%3.16%22.10%7.21%2.63%21.46%8.77%

Correlation

The correlation between XBAL.TO and JEPI is 0.51, 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

0.51

Correlation (3Y)
Calculated over the trailing 3-year period

0.54

Correlation (5Y)
Calculated over the trailing 5-year period

0.56

Correlation (All Time)
Calculated using the full available price history since May 22, 2020

0.56

The correlation between XBAL.TO and JEPI has been stable across timeframes, ranging from 0.51 to 0.56 - a consistent structural relationship.

XBAL.TO vs. JEPI - Sectors Allocation Comparison

Sectors
XBAL.TO
JEPI

Technology

21.6%
19.1%

Financial Services

20.5%
9.8%

Industrials

12.4%
13.8%

Consumer Cyclical

8.0%
11.7%

Energy

7.5%
3.5%

Basic Materials

7.4%
1.9%

Healthcare

6.6%
14.1%

Communication Services

6.4%
6.9%

Consumer Defensive

4.6%
9.6%

Utilities

2.9%
6.2%

Real Estate

2.3%
3.5%

Technology

XBAL.TO
21.6%
JEPI
19.1%

Financial Services

XBAL.TO
20.5%
JEPI
9.8%

Industrials

XBAL.TO
12.4%
JEPI
13.8%

Consumer Cyclical

XBAL.TO
8.0%
JEPI
11.7%

Energy

XBAL.TO
7.5%
JEPI
3.5%

Basic Materials

XBAL.TO
7.4%
JEPI
1.9%

Healthcare

XBAL.TO
6.6%
JEPI
14.1%

Communication Services

XBAL.TO
6.4%
JEPI
6.9%

Consumer Defensive

XBAL.TO
4.6%
JEPI
9.6%

Utilities

XBAL.TO
2.9%
JEPI
6.2%

Real Estate

XBAL.TO
2.3%
JEPI
3.5%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Core Balanced ETF Portfolio

JPMorgan Equity Premium Income ETF

Often compared with XBAL.TO:
XBAL.TO vs. XEQT.TOXBAL.TO vs. VBAL.TOXBAL.TO vs. XCNS.TOXBAL.TO vs. XEI.TOXBAL.TO vs. ZBAL.TOXBAL.TO vs. ZLB.TOXBAL.TO vs. GBAL.TO
Often compared with JEPI:
JEPI vs. JEPQJEPI vs. SCHDJEPI vs. SPYJEPI vs. QYLDJEPI vs. SPYIJEPI vs. QQQIJEPI vs. VOO

Return for Risk

XBAL.TO vs. JEPI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XBAL.TO
XBAL.TO Risk / Return Rank: 6464
Overall Rank
XBAL.TO Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
XBAL.TO Sortino Ratio Rank: 6464
Sortino Ratio Rank
XBAL.TO Omega Ratio Rank: 6666
Omega Ratio Rank
XBAL.TO Calmar Ratio Rank: 6060
Calmar Ratio Rank
XBAL.TO Martin Ratio Rank: 6868
Martin Ratio Rank
JEPI
JEPI Risk / Return Rank: 2626
Overall Rank
JEPI Sharpe Ratio Rank: 2727
Sharpe Ratio Rank
JEPI Sortino Ratio Rank: 2727
Sortino Ratio Rank
JEPI Omega Ratio Rank: 2727
Omega Ratio Rank
JEPI Calmar Ratio Rank: 2424
Calmar Ratio Rank
JEPI Martin Ratio Rank: 2626
Martin Ratio Rank
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.

XBAL.TO vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Balanced ETF Portfolio (XBAL.TO) 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.

XBAL.TOJEPIDifference
Sharpe ratioReturn per unit of total volatility
1.92
1.03

+0.89

Sortino ratioReturn per unit of downside risk
2.67
1.55

+1.12

Omega ratioGain probability vs. loss probability

1.36

1.19

+0.17

Calmar ratioReturn relative to maximum drawdown

2.72

1.68

+1.04

Martin ratioReturn relative to average drawdown

11.39

4.59

+6.80

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XBAL.TO vs. JEPI - Sharpe Ratio Comparison

The current XBAL.TO Sharpe Ratio is 1.92, which is higher than the JEPI Sharpe Ratio of 1.03. The chart below compares the historical Sharpe Ratios of XBAL.TO 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.

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Sharpe Ratios by Period

XBAL.TOJEPIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.92

1.03

+0.89

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.91

0.83

+0.08

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.79

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.65

0.88

-0.22

Drawdowns

XBAL.TO vs. JEPI - Drawdown Comparison

The maximum XBAL.TO drawdown since its inception was -28.55%, which is greater than JEPI's maximum drawdown of -14.43%. Use the drawdown chart below to compare losses from any high point for XBAL.TO and JEPI.

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Drawdown Indicators

XBAL.TOJEPIDifference

Max Drawdown

Largest peak-to-trough decline

-28.55%

-14.43%

-14.12%

Max Drawdown (1Y)

Largest decline over 1 year

-6.06%

-5.48%

-0.58%

Max Drawdown (3Y)

Largest decline over 3 years

-9.34%

-14.43%

+5.09%

Max Drawdown (5Y)

Largest decline over 5 years

-17.10%

-14.43%

-2.67%

Max Drawdown (10Y)

Largest decline over 10 years

-20.93%

—

—

Current Drawdown

Current decline from peak

-1.20%

-3.10%

+1.90%

Average Drawdown

Average peak-to-trough decline

-3.36%

-2.38%

-0.98%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.44%

2.00%

-0.56%

Volatility

XBAL.TO vs. JEPI - Volatility Comparison

iShares Core Balanced ETF Portfolio (XBAL.TO) has a higher volatility of 3.07% compared to JPMorgan Equity Premium Income ETF (JEPI) at 1.82%. This indicates that XBAL.TO'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.

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Volatility by Period

XBAL.TOJEPIDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.07%

1.82%

+1.25%

Volatility (6M)

Calculated over the trailing 6-month period

7.30%

6.98%

+0.32%

Volatility (1Y)

Calculated over the trailing 1-year period

8.59%

8.92%

-0.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.81%

12.57%

-3.76%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

9.77%

12.43%

-2.66%

XBAL.TO vs. JEPI - Expense Ratio Comparison

XBAL.TO has a 0.20% expense ratio, which is lower than JEPI's 0.35% expense ratio.

Dividends

XBAL.TO vs. JEPI - Dividend Comparison

XBAL.TO's dividend yield for the trailing twelve months is around 2.13%, less than JEPI's 8.28% yield.

PositionTTM20252024202320222021202020192018201720162015
JEPI
JPMorgan Equity Premium Income ETF		8.28%8.25%7.33%8.40%11.68%6.59%5.79%0.00%0.00%0.00%0.00%0.00%
XBAL.TO
iShares Core Balanced ETF Portfolio		2.13%2.27%2.72%2.43%2.12%1.78%2.04%2.31%3.47%3.00%3.72%3.38%

Frequently Asked Questions

XBAL.TO and JEPI have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XBAL.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XBAL.TO is cheaper with a 0.20% expense ratio, compared with 0.35% for JEPI.

XBAL.TO is categorized as Diversified Portfolio, while JEPI is Dividend. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.20% for XBAL.TO and 0.35% for JEPI.

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