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XYLD vs. JEPI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XYLD vs. JEPI

Last updated Aug 1, 2026
Documentation

XYLD (Global X S&P 500 Covered Call ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - XYLD is a Derivative Income fund tracking the Cboe S&P 500 BuyWrite Index, while JEPI is a Dividend fund actively managed by JPMorgan. XYLD is passively managed, while JEPI is actively managed. Over the past 5 years, XYLD returned 7.90%/yr vs 7.40%/yr for JEPI. Their 0.70 correlation means they have sometimes moved together and sometimes differently. XYLD charges 0.60%/yr vs 0.35%/yr for JEPI.

Performance

XYLD vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X S&P 500 Covered Call ETF (XYLD) 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, XYLD achieves a 8.05% return, which is significantly higher than JEPI's 4.52% return.

XYLD

1D
0.49%
1M
1.82%
6M
6.81%
YTD
8.05%
1Y
18.90%
3Y*
11.51%
5Y*
7.90%
10Y*
8.34%
ALL TIME*
8.37%

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

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

JEPI

JPMorgan Equity Premium Income ETF
$260.98M$260.42M$297.70M

XYLD

Global X S&P 500 Covered Call ETF
$36.93M$37.58M$32.35M

XYLD vs. JEPI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
XYLD
Global X S&P 500 Covered Call ETF		8.05%8.02%19.49%11.10%-12.05%19.59%17.91%
JEPI
JPMorgan Equity Premium Income ETF		4.52%8.09%12.57%9.83%-3.49%21.52%18.39%

Correlation

The correlation between XYLD and JEPI is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.58

Correlation (3Y)
Balances recent behavior with more history.

0.67

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.72

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

0.70

The correlation between XYLD and JEPI shifts across timeframes, from 0.58 (1 year) to 0.72 (5 years), reflecting how their relationship changes across market environments.

XYLD vs. JEPI - Sectors Allocation Comparison

Sectors
XYLD
JEPI

Technology

38.5%
15.3%

Financial Services

11.6%
9.1%

Communication Services

9.9%
6.2%

Consumer Cyclical

9.5%
10.0%

Healthcare

8.9%
12.8%

Industrials

8.4%
10.7%

Consumer Defensive

4.5%
7.8%

Energy

3.0%
2.5%

Utilities

2.2%
4.8%

Real Estate

1.8%
2.6%

Basic Materials

1.7%
1.6%

Technology

XYLD
38.5%
JEPI
15.3%

Financial Services

XYLD
11.6%
JEPI
9.1%

Communication Services

XYLD
9.9%
JEPI
6.2%

Consumer Cyclical

XYLD
9.5%
JEPI
10.0%

Healthcare

XYLD
8.9%
JEPI
12.8%

Industrials

XYLD
8.4%
JEPI
10.7%

Consumer Defensive

XYLD
4.5%
JEPI
7.8%

Energy

XYLD
3.0%
JEPI
2.5%

Utilities

XYLD
2.2%
JEPI
4.8%

Real Estate

XYLD
1.8%
JEPI
2.6%

Basic Materials

XYLD
1.7%
JEPI
1.6%

Compare stocks, funds, or ETFs

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

Global X S&P 500 Covered Call ETF

JPMorgan Equity Premium Income ETF

Often compared with XYLD:
XYLD vs. QYLDXYLD vs. SPYXYLD vs. RYLDXYLD vs. XYLGXYLD vs. VOOXYLD vs. SCHDXYLD vs. HYLD.TO
Often compared with JEPI:
JEPI vs. JEPQJEPI vs. SCHDJEPI vs. SPYJEPI vs. QYLDJEPI vs. SPYIJEPI vs. QQQIJEPI vs. DIVO

Return for Risk

XYLD vs. JEPI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
XYLD
XYLD Risk / Return Rank: 9393
Overall Rank
XYLD Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
XYLD Sortino Ratio Rank: 9494
Sortino Ratio Rank
XYLD Omega Ratio Rank: 9595
Omega Ratio Rank
XYLD Calmar Ratio Rank: 8787
Calmar Ratio Rank
XYLD Martin Ratio Rank: 9494
Martin Ratio Rank
JEPI
JEPI Risk / Return Rank: 4848
Overall Rank
JEPI Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
JEPI Sortino Ratio Rank: 5353
Sortino Ratio Rank
JEPI Omega Ratio Rank: 5252
Omega Ratio Rank
JEPI Calmar Ratio Rank: 4343
Calmar Ratio Rank
JEPI Martin Ratio Rank: 4141
Martin Ratio Rank
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.

XYLD vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Covered Call ETF (XYLD) 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.

XYLDJEPIDifference
Sharpe ratioReturn per unit of total volatility
2.53
1.25

+1.27

Sortino ratioReturn per unit of downside risk
3.60
1.85

+1.75

Omega ratioGain probability vs. loss probability

1.56

1.23

+0.33

Calmar ratioReturn relative to maximum drawdown

3.40

1.52

+1.88

Martin ratioReturn relative to average drawdown

17.69

4.32

+13.37

XYLD vs. JEPI - Sharpe Ratio Comparison

The current XYLD Sharpe Ratio is 2.53, which is higher than the JEPI Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of XYLD 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

XYLD vs. JEPI - Drawdown Comparison

The maximum XYLD drawdown since its inception was -33.46%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for XYLD and JEPI.

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Drawdown Indicators

XYLDJEPIDifference

Max Drawdown

Largest peak-to-trough decline

-33.46%

-13.71%

-19.75%

Max Drawdown (1Y)

Largest decline over 1 year

-5.29%

-6.68%

+1.39%

Max Drawdown (3Y)

Largest decline over 3 years

-15.53%

-13.26%

-2.27%

Max Drawdown (5Y)

Largest decline over 5 years

-18.66%

-13.71%

-4.95%

Max Drawdown (10Y)

Largest decline over 10 years

-33.46%

—

—

Current Drawdown

Current decline from peak

0.00%

-0.68%

+0.68%

Average Drawdown

Average peak-to-trough decline

-3.68%

-2.13%

-1.55%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.02%

2.36%

-1.34%

Volatility

XYLD vs. JEPI - Volatility Comparison

The current volatility for Global X S&P 500 Covered Call ETF (XYLD) is 1.92%, while JPMorgan Equity Premium Income ETF (JEPI) has a volatility of 2.38%. This indicates that XYLD experiences smaller price fluctuations and is considered to be less risky 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

XYLDJEPIDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.92%

2.38%

-0.46%

Volatility (6M)

Calculated over the trailing 6-month period

5.97%

6.37%

-0.40%

Volatility (1Y)

Calculated over the trailing 1-year period

7.13%

8.15%

-1.02%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.27%

11.10%

+0.17%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.15%

10.73%

+3.42%

XYLD vs. JEPI - Expense Ratio Comparison

XYLD has a 0.60% expense ratio, which is higher than JEPI's 0.35% expense ratio.

Dividends

XYLD vs. JEPI - Dividend Comparison

XYLD's dividend yield for the trailing twelve months is around 10.53%, more than JEPI's 7.96% yield.

PositionTTM20252024202320222021202020192018201720162015
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%0.00%0.00%
XYLD
Global X S&P 500 Covered Call ETF		10.53%10.51%11.54%10.51%13.43%9.07%7.93%5.76%7.12%5.18%3.23%4.65%

Frequently Asked Questions

XYLD and JEPI have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

JEPI has higher volatility (2.38%) compared to XYLD (1.92%). In terms of maximum drawdown, XYLD dropped -33.46% vs JEPI's -13.71%.

On 5-year performance, XYLD leads with 7.90% vs 7.40% for JEPI. On fees, JEPI is cheaper at 0.35% per year. On volatility, XYLD has been the lower-risk option at 1.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, XYLD has performed better with a 7.90% return vs 7.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

JEPI is cheaper with a 0.35% expense ratio, compared with 0.60% for XYLD.

XYLD has the higher dividend yield at 10.53%, compared with 7.34% for JEPI.

XYLD is categorized as Derivative Income, while JEPI is Dividend. They also come from different issuers: Global X and JPMorgan. Their fees differ too: 0.60% for XYLD and 0.35% for JEPI.

XYLD currently has the higher Sharpe Ratio (2.53 vs 1.25), 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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