JPMorgan Equity Premium Income ETF (JEPI)

How has JEPI done since 2020?#

From May 2020 to October 2026, JEPI returned about 11.1% a year. The S&P 500 returned about 17.6% a year over the same dates. Say you put in $10,000 at the start. It would have been worth about $19,668 at the end, with every dividend reinvested.

JEPI returns by month and year#

JEPI rose in 51 of its 78 months (65%). Its best month was October 2022, at 7.5%. Its worst was September 2022, at −6.3%.

How risky is JEPI compared with the S&P 500?#

Measured from October 2021 to October 2026, on the days both traded.

• Beta 0.56. When the S&P 500 moved 1% in a day, JEPI tended to move about 0.56%.
• Correlation 0.87. JEPI mostly moved with the S&P 500.
• Up and down months. In months the S&P 500 rose, JEPI rose 58% as much on average. In months it fell, JEPI fell 57% as much.

Is JEPI above its 200-day average?#

JEPI closed 2.9% above its 200-day average on October 16, 2026. A rule that holds JEPI only above that average would hold it today.

What was JEPI’s worst drop?#

A drawdown is how far a fund falls from its last high point. JEPI’s worst fall was −13.7%, from April 20, 2022 to September 30, 2022. It got back to that high on June 15, 2023. On October 16, 2026 it was 0.7% below its highest close.

What does JEPI hold?#

This fund owns a group of large US stocks picked by its managers and also sells options on the S&P 500 to collect extra cash it can pay out as monthly income. Selling those options means the fund gives up some of the gain when stocks climb fast, so it can trail the market in strong years. It still owns stocks, so its price can fall when the stock market falls.

It does not track an index. Its managers choose what it holds. It had 135 holdings as of October 15, 2026, according to J.P. Morgan Asset Management.

What is the JEPI expense ratio?#

JEPI charges 0.35% a year. An expense ratio is the yearly fee a fund takes to run itself. On $10,000, a 0.35% fee comes to about $35 a year. Of the 162 ETFs on Tactfolio, 19% charge more.

You never get a bill for it. The fund takes the fee out of its own value a little each day.

Which Tactfolio strategies hold JEPI?#

No classic strategy holds JEPI yet. You can add it to your own rules in the builder and see how they would have done.

How does JEPI compare with similar ETFs?#

Funds that can stand in for JEPI:

• GPIX: Goldman Sachs S&P 500 Premium Income ETF, 0.29% a year
• JEPQ: JPMorgan Nasdaq Equity Premium Income ETF, 0.35% a year
• DIVO: Amplify CWP Enhanced Dividend Income ETF, 0.56% a year
• QYLD: Global X NASDAQ 100 Covered Call ETF, 0.6% a year

See all 8 JEPI alternatives, compared on the same dates as JEPI.

Test JEPI in your own rules#

Tactfolio is a platform where you build rules-based investing strategies, backtest them on decades of real prices, share them, and run them automatically in your own Alpaca account. Open the builder, add JEPI, and see how a rule such as “hold it only above its 200-day average” would have done. Strategies run on daily prices and hold US stocks and ETFs only.

The details#

Prices come from Tactfolio’s stored daily prices for JEPI and SPY. Each close is adjusted for splits, and dividends are reinvested on the day the fund pays them out. CAGR is the steady yearly return that turns the starting value into the ending value. Volatility is the yearly standard deviation of daily returns. Beta and correlation compare daily returns with the S&P 500 over the same dates.

Fund facts come from J.P. Morgan Asset Management. We checked them on October 16, 2026. Read what a backtest simulates and how to read drawdown and CAGR for more on these measures.