XYLD vs. JEPI

Last updated Jun 21, 2026

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 7.73%/yr vs 7.73%/yr for JEPI. A 0.70 correlation means they provide meaningful diversification when combined. 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.

Returns By Period

In the year-to-date period, XYLD achieves a 5.52% return, which is significantly higher than JEPI's 1.40% return.

XYLD

• 1D: 0.27%
• 1M: 1.46%
• YTD: 5.52%
• 6M: 5.95%
• 1Y: 17.66%
• 3Y*: 11.48%
• 5Y*: 7.73%
• 10Y*: 8.33%

JEPI

• 1D: 0.20%
• 1M: 0.74%
• YTD: 1.40%
• 6M: 1.62%
• 1Y: 9.02%
• 3Y*: 9.01%
• 5Y*: 7.73%
• 10Y*: —

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

XYLD vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
XYLD Global X S&P 500 Covered Call ETF	5.52%	8.02%	19.49%	11.10%	-12.05%	19.59%	17.91%
JEPI JPMorgan Equity Premium Income ETF	1.40%	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 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year 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	39.0%	15.3%
Financial Services	11.1%	7.2%
Communication Services	10.6%	6.3%
Consumer Cyclical	9.9%	10.0%
Healthcare	8.3%	11.6%
Industrials	7.8%	9.7%
Consumer Defensive	4.5%	7.8%
Energy	3.2%	2.5%
Utilities	2.1%	4.7%
Real Estate	1.8%	2.7%
Basic Materials	1.7%	1.7%

Return for Risk

XYLD vs. JEPI — Risk / Return Rank

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

XYLD

XYLD Risk / Return Rank: 83
XYLD Sharpe Ratio Rank: 84
XYLD Sortino Ratio Rank: 86
XYLD Omega Ratio Rank: 92
XYLD Calmar Ratio Rank: 69
XYLD Martin Ratio Rank: 86

JEPI

JEPI Risk / Return Rank: 31
JEPI Sharpe Ratio Rank: 33
JEPI Sortino Ratio Rank: 33
JEPI Omega Ratio Rank: 32
JEPI Calmar Ratio Rank: 29
JEPI Martin Ratio Rank: 30

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.

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.

	XYLD	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	2.54	1.13	+1.41
Sortino ratio: Return per unit of downside risk	3.62	1.68	+1.94
Omega ratio: Gain probability vs. loss probability	1.59	1.21	+0.38
Calmar ratio: Return relative to maximum drawdown	3.27	1.36	+1.91
Martin ratio: Return relative to average drawdown	17.16	4.06	+13.10

XYLD vs. JEPI - Sharpe Ratio Comparison

The current XYLD Sharpe Ratio is 2.54, which is higher than the JEPI Sharpe Ratio of 1.13. 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.

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.

Drawdown Indicators

	XYLD	JEPI	Difference
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%	-3.64%	+3.64%
Average Drawdown Average peak-to-trough decline	-3.71%	-2.13%	-1.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.01%	2.23%	-1.22%

Volatility

XYLD vs. JEPI - Volatility Comparison

The current volatility for Global X S&P 500 Covered Call ETF (XYLD) is 2.21%, while JPMorgan Equity Premium Income ETF (JEPI) has a volatility of 2.35%. 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.

Volatility by Period

	XYLD	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.21%	2.35%	-0.14%
Volatility (6M) Calculated over the trailing 6-month period	5.76%	6.30%	-0.54%
Volatility (1Y) Calculated over the trailing 1-year period	6.80%	8.03%	-1.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.26%	11.09%	+0.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.22%	10.79%	+3.43%

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 10.46%, more than JEPI's 8.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPI JPMorgan Equity Premium Income ETF	8.17%	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	10.46%	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

Can I hold both XYLD and JEPI in my portfolio?

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.

Which is riskier, XYLD or JEPI?

JEPI has higher volatility (2.35%) compared to XYLD (2.21%). In terms of maximum drawdown, XYLD dropped -33.46% vs JEPI's -13.71%.

Which ETF is better, XYLD or JEPI?

On 5-year performance, JEPI leads with 7.73% vs 7.73% for XYLD. On fees, JEPI is cheaper at 0.35% per year. On volatility, XYLD has been the lower-risk option at 2.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XYLD or JEPI?

Over the 5-year period, JEPI has performed better with a 7.73% return vs 7.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XYLD or JEPI?

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

Which ETF pays a higher dividend yield, XYLD or JEPI?

XYLD has the higher dividend yield at 10.46%, compared with 8.17% for JEPI.

What is the main difference between XYLD and 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.

Which has better risk-adjusted returns?

XYLD currently has the higher Sharpe Ratio (2.54 vs 1.13), 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.