JEPI vs SPYI
JPMorgan Equity Premium Income ETF vs NEOS S&P 500 High Income ETF
Which is better, JEPI or SPYI?
Large Cap Value against Large Cap Blend.
JEPI has a lower expense ratio. JEPI led over 1Y, SPYI over 3Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | JEPI | SPYI |
|---|---|---|
| Expense Ratio | 0.35%Best | 0.68% |
| AUM | $46.3B | $11.7B |
| Dividend Yield | 7.99% | 11.81% |
| Holdings | 127 | 509 |
| YTD Return | +3.57%Best | +1.12% |
| 1Y Return | +7.11%Best | +5.47% |
| 3Y Return (annualized) | +8.83% | +12.28%Best |
| 5Y Return (annualized) | +7.08% | - |
| Volatility (annualized) | 9.3%Best | 10.4% |
| Max Drawdown | -13.3%Best | -16.5% |
| $10,000 over 4 years | $14,251 | $15,978Best |
| Fund Family | J.P. Morgan Asset Management | NEOS |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | May 20, 2020 | Aug 29, 2022 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 4 years row, are measured over the window both funds cover: Aug 30, 2022 to Sep 10, 2026 (4 years).
JEPI vs SPYI growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 4 years both funds cover.
JEPI vs SPYI Performance
JPMorgan Equity Premium Income ETF (JEPI) is an ETF from J.P. Morgan Asset Management and NEOS S&P 500 High Income ETF (SPYI) is an ETF from NEOS. Over the past year JEPI returned +7.11% while SPYI returned +5.47%. Year to date, JEPI is up 3.57% versus a gain of 1.12% for SPYI.
Over three years, JEPI compounded at +8.83% per year against +12.28% for SPYI. Across the full 4-year window we track, SPYI has the edge at +12.43% annualized vs +9.26%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPYI has been the more volatile fund, with annualized monthly volatility of 10.4% compared with 9.3% for JEPI. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -13.3% for JEPI and -16.5% for SPYI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
JEPI charges 0.35% per year while SPYI charges 0.68%. On a $10,000 position that is $35 vs $68 annually, a gap of $33 per year that compounds over a long holding period. On income, JEPI currently yields 7.99% against 11.81% for SPYI.
Holdings Overlap
At least 63.3% of SPYI's money is in holdings JEPI also owns.
Stated as a floor: for JEPI, our book for it covers 86.4% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
The two portfolios partly overlap.
112 positions in common, counted across the 118 positions we hold weights for in JEPI and 494 in SPYI, against full books of 127 and 509.
Top Shared Holdings
| Stock | Weight in JEPI | Weight in SPYI | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 1.81% | 8.10% | 6.29% |
| AAPLApple, Inc | 1.70% | 7.06% | 5.36% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 1.97% | 5.69% | 3.72% |
| AMZNAmazon.Com Inc | 2.03% | 3.86% | 1.83% |
| GOOGLAlphabet A Usd 0.001 | 1.79% | 3.02% | 1.23% |
| AVGOBroadcom Inc | 1.72% | 2.66% | 0.94% |
| METAMeta Platforms, Inc. | 1.46% | 1.92% | 0.46% |
| JNJJohnson & Johnson | 1.74% | 0.98% | 0.76% |
| MAMastercard Inc | 1.75% | 0.72% | 1.03% |
| LLYEli Lilly & Co. | 1.04% | 1.43% | 0.39% |
63.3% of SPYI is already inside JEPI.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, JEPI or SPYI?
JEPI has an expense ratio of 0.35% while SPYI charges 0.68%. JEPI is the cheaper option, by $33 a year on a $10,000 investment.
Which performed better, JEPI or SPYI?
Over the past year JEPI returned +7.11% vs +5.47% for SPYI, so JEPI leads on 1-year performance. Over the longest common window we track (4 years), JEPI annualized +9.26% vs +12.43% for SPYI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, JEPI or SPYI?
SPYI has been the more volatile fund at 10.4% annualized versus 9.3% for JEPI. Worst drawdown: JEPI -13.3% vs SPYI -16.5%.
Should I hold both JEPI and SPYI?
JEPI and SPYI have a monthly-return correlation of 0.81, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between JEPI and SPYI?
At least 63.3% of SPYI's money is in holdings JEPI also owns. Our book for JEPI is partial, so the real figure is this or higher. They hold 112 positions in common, counted across the 118 positions we hold weights for in JEPI and 494 in SPYI.
Which pays a higher dividend, JEPI or SPYI?
JEPI yields 7.99% while SPYI yields 11.81%, so SPYI currently pays the higher dividend yield.
Is SPYI better than JEPI?
JEPI has a lower expense ratio. JEPI led over 1Y, SPYI over 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.