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JEPI ETF Returns 10%, Trails S&P 500 by 16%

3/12/2026

40 7 Full Breakdown

Summary

Story summary

In 2023, the JPMorgan Equity Premium Income ETF (JEPI) posted a 10% return, lagging the S&P 500's 26% rise by 16 points.
The fund uses a covered-call strategy, which led to derivative-related losses that diminished gains.
Over five years, JEPI averaged 9.8%, versus 13.4% for a standard S&P 500 index fund.
Investors must weigh high yields against potential total-return impacts when considering JEPI for income portfolios.

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Story summary

In 2023, the JPMorgan Equity Premium Income ETF (JEPI) posted a 10% return, lagging the S&P 500's 26% rise by 16 points.
The fund uses a covered-call strategy, which led to derivative-related losses that diminished gains.
Over five years, JEPI averaged 9.8%, versus 13.4% for a standard S&P 500 index fund.
Investors must weigh high yields against potential total-return impacts when considering JEPI for income portfolios.