XFLT vs. JEPI

Last updated Aug 1, 2026

XFLT (XAI Octagon Floating Rate & Alternative Income Term Trust) is a stock, while JEPI (JPMorgan Equity Premium Income ETF) is Dividend fund actively managed by JPMorgan. Over the past 5 years, XFLT returned -3.24%/yr vs 7.40%/yr for JEPI. Their 0.22 correlation means their historical movements had little consistent relationship.

Performance

XFLT vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in XAI Octagon Floating Rate & Alternative Income Term Trust (XFLT) 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, XFLT achieves a -13.70% return, which is significantly lower than JEPI's 4.52% return.

XFLT

• 1D: -0.48%
• 1M: 7.09%
• 6M: -8.91%
• YTD: -13.70%
• 1Y: -20.33%
• 3Y*: -4.28%
• 5Y*: -3.24%
• 10Y*: —
• ALL TIME*: 1.20%

JEPI

• 1D: 0.33%
• 1M: 1.27%
• 6M: 2.16%
• YTD: 4.52%
• 1Y: 11.16%
• 3Y*: 9.21%
• 5Y*: 7.40%
• 10Y*: —
• ALL TIME*: 11.29%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JEPI JPMorgan Equity Premium Income ETF	$260.98M	$260.42M	$297.70M
XFLT XAI Octagon Floating Rate & Alternative Income Term Trust	$2.03M	$1.89M	$1.66M

XFLT vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
XFLT XAI Octagon Floating Rate & Alternative Income Term Trust	-13.70%	-15.35%	7.37%	30.40%	-20.30%	31.30%	67.34%
JEPI JPMorgan Equity Premium Income ETF	4.52%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.39%

Correlation

The correlation between XFLT and JEPI is 0.16, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.16
Correlation (3Y) Balances recent behavior with more history.	0.18
Correlation (5Y) Shows whether the relationship held over a longer period.	0.22
Correlation (All Time) Calculated using the full available price history since May 21, 2020	0.22

Return for Risk

XFLT vs. JEPI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

XFLT

XFLT Risk / Return Rank: 15
XFLT Sharpe Ratio Rank: 5
XFLT Sortino Ratio Rank: 8
XFLT Omega Ratio Rank: 9
XFLT Calmar Ratio Rank: 26
XFLT Martin Ratio Rank: 25

JEPI

JEPI Risk / Return Rank: 48
JEPI Sharpe Ratio Rank: 52
JEPI Sortino Ratio Rank: 53
JEPI Omega Ratio Rank: 52
JEPI Calmar Ratio Rank: 43
JEPI Martin Ratio Rank: 41

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XFLT vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for XAI Octagon Floating Rate & Alternative Income Term Trust (XFLT) 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.

	XFLT	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	-0.96	1.25	-2.22
Sortino ratio: Return per unit of downside risk	-1.36	1.85	-3.21
Omega ratio: Gain probability vs. loss probability	0.84	1.23	-0.39
Calmar ratio: Return relative to maximum drawdown	-0.51	1.52	-2.03
Martin ratio: Return relative to average drawdown	-0.93	4.32	-5.25

XFLT vs. JEPI - Sharpe Ratio Comparison

The current XFLT Sharpe Ratio is -0.96, which is lower than the JEPI Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of XFLT 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

XFLT vs. JEPI - Drawdown Comparison

The maximum XFLT drawdown since its inception was -55.43%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for XFLT and JEPI.

Drawdown Indicators

	XFLT	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-55.43%	-13.71%	-41.72%
Max Drawdown (1Y) Largest decline over 1 year	-40.67%	-6.68%	-33.99%
Max Drawdown (3Y) Largest decline over 3 years	-47.04%	-13.26%	-33.78%
Max Drawdown (5Y) Largest decline over 5 years	-47.04%	-13.71%	-33.33%
Current Drawdown Current decline from peak	-31.38%	-0.68%	-30.70%
Average Drawdown Average peak-to-trough decline	-14.75%	-2.13%	-12.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.13%	2.36%	+19.77%

Volatility

XFLT vs. JEPI - Volatility Comparison

XAI Octagon Floating Rate & Alternative Income Term Trust (XFLT) has a higher volatility of 6.27% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.38%. This indicates that XFLT'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

	XFLT	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.27%	2.38%	+3.89%
Volatility (6M) Calculated over the trailing 6-month period	18.99%	6.37%	+12.62%
Volatility (1Y) Calculated over the trailing 1-year period	21.36%	8.15%	+13.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.94%	11.10%	+9.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.06%	10.73%	+15.33%

Dividends

XFLT vs. JEPI - Dividend Comparison

XFLT's dividend yield for the trailing twelve months is around 18.87%, more than JEPI's 7.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JEPI JPMorgan Equity Premium Income ETF	7.34%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%	0.00%	0.00%
XFLT XAI Octagon Floating Rate & Alternative Income Term Trust	18.87%	18.23%	15.24%	13.61%	13.86%	9.82%	10.64%	10.63%	11.33%	1.47%

Frequently Asked Questions

Can I hold both XFLT and JEPI in my portfolio?

XFLT and JEPI have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XFLT or JEPI?

XFLT has higher volatility (6.27%) compared to JEPI (2.38%). In terms of maximum drawdown, XFLT dropped -55.43% vs JEPI's -13.71%.

Which has better risk-adjusted returns?

JEPI currently has the higher Sharpe Ratio (1.25 vs -0.96), 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.