Compare/Updated Oct 26, 2026, refreshed every trading day
JEPI vs SPYI
JPMorgan Equity Premium Income ETF against Neos S&P 500(R) High Income ETF: 4 years of returns, risk and today’s technical read, from Kavout’s own data.
SPYI did better over the period from Oct. 28, 2022 to Oct. 23, 2026: $1,000 grew to $1,821, or +82.1%, versus $1,452, or +45.2%, for JEPI. SPYI also led over three years (+61.5% versus +34.7%), one year (+14.1% versus +7.5%), and year to date (+10.8% versus +5.5%). The trade-off was higher risk: SPYI’s 12-month volatility was 10.6% versus 7.9% for JEPI, and its worst drawdown was -16.5% versus -13.3%. SPYI’s expense ratio was also higher at 0.68% versus 0.35%, while its fund assets were $10B versus JEPI’s $46B. The funds had a 0.851 correlation, with JEPI moving 0.67% for each 1% move in SPYI. SPYI won 28 of the last 48 months, compared with 20 for JEPI.
- Price is above its 200-day average ($56); 50-day at $57.
- RSI 52, neutral. Supertrend says buy. ADX 23, so the trend is developing.
- Price is above its 200-day average ($50); 50-day at $53.
- RSI 44, neutral. Supertrend says sell. ADX 16, so the trend is weak.
Head to head
Which has returned more, JEPI or SPYI?
JEPI beat SPYI in 20 of the last 48 months; SPYI won the other 28. The typical monthly gap was 1.18 points.
Total return by period
Which is riskier?
Both: Feb 19, 2025 to Apr 8, 2025
- 0.851
- correlation of daily moves, 4 years
- 0.67
- JEPI move per 1% in SPYI
- 0.713
- correlation, last 12 months
Month by month
Of the last 48 months. The typical gap was 1.18 points.
When did they diverge?
| Month | JEPI | SPYI | Gap |
|---|---|---|---|
| May 2026 | -1.9% | +3.9% | -5.80 pts |
| April 2026 | +2.4% | +7.2% | -4.86 pts |
| May 2025 | +1.8% | +4.9% | -3.08 pts |
| May 2023 | -1.7% | +1.3% | -3.04 pts |
Where the numbers come from. 1000 daily adjusted closes per fund from the Kavout market-data API, dividends included. Signals and indicators are Kavout’s own, refreshed nightly. Every figure is calculated from those adjusted closes.
Holdings and fees
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