JPMorgan Equity Premium Income ETF (JEPI) is a ETF from J.P. Morgan Asset Management and NEOS S&P 500 High Income ETF (SPYI) is a ETF from NEOS. Over the past year JEPI returned +9.78% while SPYI returned +10.56%. Year to date, JEPI is up 4.23% versus a gain of 2.76% for SPYI.

Over three years, JEPI compounded at +9.15% per year against +12.95% for SPYI. Across the full 4-year window we track, SPYI has the edge at +13.23% annualized vs +10.11%. Past performance does not guarantee future results.

SPYI has been the more volatile fund, with annualized monthly volatility of 10.5% compared with 10.0% 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 -13.7% for JEPI and -16.5% for SPYI. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.

The two funds' monthly returns correlate at 0.80. They usually move together, but the gap leaves some room for diversification.

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 8.35% against 11.84% for SPYI.