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XLV vs. JEPI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XLV vs. JEPI

Last updated Jun 14, 2026

XLV (State Street Health Care Select Sector SPDR ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - XLV is a Health & Biotech Equities fund tracking the Health Care Select Sector Index, while JEPI is a Dividend fund actively managed by JPMorgan. XLV is passively managed, while JEPI is actively managed. Over the past 5 years, XLV returned 6.00%/yr vs 7.45%/yr for JEPI. A 0.76 correlation means they provide meaningful diversification when combined. XLV charges 0.08%/yr vs 0.35%/yr for JEPI.

Performance

XLV vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Health Care Select Sector SPDR ETF (XLV) and JPMorgan Equity Premium Income ETF (JEPI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XLV achieves a -0.23% return, which is significantly lower than JEPI's 1.29% return.

XLV

1D
-0.18%
1M
4.90%
YTD
-0.23%
6M
0.67%
1Y
15.00%
3Y*
7.12%
5Y*
6.00%
10Y*
9.81%

JEPI

1D
0.43%
1M
0.79%
YTD
1.29%
6M
1.18%
1Y
8.34%
3Y*
9.13%
5Y*
7.45%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XLV vs. JEPI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
XLV
State Street Health Care Select Sector SPDR ETF		-0.23%14.50%2.47%2.07%-2.08%26.04%14.67%
JEPI
JPMorgan Equity Premium Income ETF		1.29%8.09%12.57%9.83%-3.49%21.52%18.39%

Correlation

The correlation between XLV and JEPI is 0.62, 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

0.62

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

0.69

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

0.76

Correlation (All Time)
Calculated using the full available price history since May 21, 2020

0.76

The correlation between XLV and JEPI shifts across timeframes, from 0.62 (1 year) to 0.76 (5 years), reflecting how their relationship changes across market environments.

XLV vs. JEPI - Sectors Allocation Comparison

Sectors
XLV
JEPI

Healthcare

100.0%
12.0%

Basic Materials

-

1.6%

Communication Services

-

6.2%

Consumer Cyclical

-

10.1%

Consumer Defensive

-

8.1%

Energy

-

2.7%

Financial Services

-

7.4%

Industrials

-

9.5%

Real Estate

-

2.9%

Technology

-

14.5%

Utilities

-

4.7%

Healthcare

XLV
100.0%
JEPI
12.0%

Basic Materials

XLV

-

JEPI
1.6%

Communication Services

XLV

-

JEPI
6.2%

Consumer Cyclical

XLV

-

JEPI
10.1%

Consumer Defensive

XLV

-

JEPI
8.1%

Energy

XLV

-

JEPI
2.7%

Financial Services

XLV

-

JEPI
7.4%

Industrials

XLV

-

JEPI
9.5%

Real Estate

XLV

-

JEPI
2.9%

Technology

XLV

-

JEPI
14.5%

Utilities

XLV

-

JEPI
4.7%

Compare stocks, funds, or ETFs

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

State Street Health Care Select Sector SPDR ETF

JPMorgan Equity Premium Income ETF

Often compared with XLV:
XLV vs. VHTXLV vs. SPYXLV vs. XLFXLV vs. IXJXLV vs. VOOXLV vs. FHLCXLV vs. IHI
Often compared with JEPI:
JEPI vs. JEPQJEPI vs. SCHDJEPI vs. SPYJEPI vs. QYLDJEPI vs. SPYIJEPI vs. QQQIJEPI vs. VOO

Return for Risk

XLV vs. JEPI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XLV
XLV Risk / Return Rank: 3030
Overall Rank
XLV Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
XLV Sortino Ratio Rank: 3333
Sortino Ratio Rank
XLV Omega Ratio Rank: 2828
Omega Ratio Rank
XLV Calmar Ratio Rank: 3232
Calmar Ratio Rank
XLV Martin Ratio Rank: 2727
Martin Ratio Rank
JEPI
JEPI Risk / Return Rank: 2828
Overall Rank
JEPI Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
JEPI Sortino Ratio Rank: 2929
Sortino Ratio Rank
JEPI Omega Ratio Rank: 2828
Omega Ratio Rank
JEPI Calmar Ratio Rank: 2727
Calmar Ratio Rank
JEPI Martin Ratio Rank: 2828
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.

XLV vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Health Care Select Sector SPDR ETF (XLV) 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.

XLVJEPIDifference
Sharpe ratioReturn per unit of total volatility
0.97
0.95

+0.02

Sortino ratioReturn per unit of downside risk
1.55
1.42

+0.13

Omega ratioGain probability vs. loss probability

1.17

1.17

0.00

Calmar ratioReturn relative to maximum drawdown

1.38

1.14

+0.25

Martin ratioReturn relative to average drawdown

3.31

3.46

-0.15

XLV vs. JEPI - Sharpe Ratio Comparison

The current XLV Sharpe Ratio is 0.97, which is comparable to the JEPI Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of XLV 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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Drawdowns

XLV vs. JEPI - Drawdown Comparison

The maximum XLV drawdown since its inception was -39.17%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for XLV and JEPI.

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Drawdown Indicators

XLVJEPIDifference

Max Drawdown

Largest peak-to-trough decline

-39.17%

-13.71%

-25.46%

Max Drawdown (1Y)

Largest decline over 1 year

-10.47%

-6.68%

-3.79%

Max Drawdown (3Y)

Largest decline over 3 years

-17.11%

-13.26%

-3.85%

Max Drawdown (5Y)

Largest decline over 5 years

-17.11%

-13.71%

-3.40%

Max Drawdown (10Y)

Largest decline over 10 years

-28.40%

—

—

Current Drawdown

Current decline from peak

-3.59%

-3.75%

+0.16%

Average Drawdown

Average peak-to-trough decline

-7.12%

-2.13%

-4.99%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.37%

2.20%

+2.17%

Volatility

XLV vs. JEPI - Volatility Comparison

State Street Health Care Select Sector SPDR ETF (XLV) has a higher volatility of 4.90% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.05%. This indicates that XLV'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

XLVJEPIDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.90%

2.05%

+2.85%

Volatility (6M)

Calculated over the trailing 6-month period

10.60%

6.23%

+4.37%

Volatility (1Y)

Calculated over the trailing 1-year period

15.03%

8.02%

+7.01%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.75%

11.08%

+3.67%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.58%

10.79%

+5.79%

XLV vs. JEPI - Expense Ratio Comparison

XLV has a 0.08% expense ratio, which is lower than JEPI's 0.35% expense ratio.

Dividends

XLV vs. JEPI - Dividend Comparison

XLV's dividend yield for the trailing twelve months is around 1.63%, less than JEPI's 8.18% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
XLV
State Street Health Care Select Sector SPDR ETF		1.63%1.60%1.67%1.59%1.47%1.33%1.49%2.17%1.57%1.47%1.60%1.43%

Frequently Asked Questions

XLV and JEPI have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

XLV has higher volatility (4.90%) compared to JEPI (2.05%). In terms of maximum drawdown, XLV dropped -39.17% vs JEPI's -13.71%.

On 5-year performance, JEPI leads with 7.45% vs 6.00% for XLV. On fees, XLV is cheaper at 0.08% per year. On volatility, JEPI has been the lower-risk option at 2.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, JEPI has performed better with a 7.45% return vs 6.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

XLV is cheaper with a 0.08% expense ratio, compared with 0.35% for JEPI.

JEPI has the higher dividend yield at 8.18%, compared with 1.63% for XLV.

XLV is categorized as Health & Biotech Equities, while JEPI is Dividend. They also come from different issuers: State Street and JPMorgan. Their fees differ too: 0.08% for XLV and 0.35% for JEPI.

XLV currently has the higher Sharpe Ratio (0.97 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.

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