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Actively managed: it does not track an index — the declared benchmark is a yardstick for comparison
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US Equity Premium Income Active UCITS ETFIndex, costs, backtest, listings and taxation

ISIN: IE000U5MJOZ6Ticker: JEPI (Borsa Italiana) · JEIP (Xetra) · JEPI (London SE) · JEPI (SIX)Issuer: JPMorgan
Issuer-declared data
Declared index
SPTR500N
TER
0.35%
Transaction costs
0.23% (issuer estimate, from the KID)
Management
Active management (from the KID)
Replication
Gestione attiva (dal KID)
Income policy
SFDR
Article 6 — does not promote specific ESG characteristics what does it mean?
Fund assets
570.7 mln EUR
Domicile
Ireland
Inception date
29 October 2024
Data as declared by JPMorgan in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description

US Equity Premium Income Active UCITS ETF is an actively managed ETF: it does not track an index — the declared index (SPTR500N) is a comparison yardstick only. The declared annual cost (TER) is 0.35%, plus 0.23% in transaction costs estimated by the issuer in the KID. Income is distributed to investors. The fund has assets of about 571 million euro, was launched on 29 October 2024 and is domiciled in Ireland. In our registry 3 other ETFs declare the same index.

The fund’s objective — in the issuer’s words

Investment Objective: The objective of the Sub-Fund is to provide income and long-term capital growth.

Keep reading the KID section ▾

Investment Policy:The Sub-Fund pursues an actively-managed investment strategy. The Sub-Fund aims to (i) invest in a portfolio of equity securities comprising primarily of companies that are domiciled in, or carrying out the main part of their economic activity in the USA, and (ii) sell equity call options and/or equity index call options, to generate an income through the associated dividends and options premiums. (i) Equity Portfolio The Sub-Fund aims to invest at least 67% of its assets (excluding assets held for ancillary liquidity purposes) in equity securities issued by companies that are domiciled in, or carrying out the main part of their economic activity in the USA. The Sub-Fund may also invest in equity securities issued by companies from any other country. (ii) Equity Call Options/Equity Index Call Options The Investment Manager seeks additional income through employing a financial derivative instrument ("FDI") overlay strategy which will be implemented by systematically selling equity call options and/or equity index call options which will typically have exposure to indices comprised of Benchmark Securities. The income provided from the option premiums is an important source of the Sub-Fund's return and may also reduce the Sub-Fund's volatility, the income generated from the option premiums may help offset any losses from the equity portfolio. However, investors should also note that the losses from the sale of equity call options and/or equity index call options may also offset the Sub-Fund's profits from increases in the value of the equity portfolio.

From the KID’s “Objectives” section · 4 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.35%: above the median of equity ETFs we track (0.22%).
Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed versionProspectusPDF in English, from the issuer’s site — the fund’s full legal documentFactsheetPDF in Italian, from the issuer’s site — the fund’s monthly snapshot
The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Fund performance

issuer-declared net asset value (NAV) · USD · from Oct 2024 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+13.4%
Annualised
+7.0%
Volatility (ann.)
11.4%
Max drawdown
-13.56%
-13%-6%+2%+10%+17%Oct 2024Apr 2025Oct 2025Mar 2026Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+13%Oct 2024Sept 2026
Note — currency risk: the fund is denominated (or hedged) in USD and the chart is in USD. For a euro investor, returns also depend on the EUR/USD exchange rate, up or down.
Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.
0%-5%-10%-15%-20%202420252026−13.56% · 08 Apr 2025
Max drawdown
-13.56%
peak → trough
Trough
08 Apr 2025
from the 29 Nov 2024 peak
Recovery time
134 days
recovery only: trough to break-even · ≈ 4 months
Underwater
264 days
decline + recovery: peak to break-even · ≈ 9 months · → recovered on 20 Aug 2025

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
29 Nov 202408 Apr 2025-13.56%20 Aug 2025264
28 Feb 202627 Mar 2026-6.78%05 Aug 2026158
12 Nov 202520 Nov 2025-2.53%25 Nov 202513
03 Oct 202510 Oct 2025-1.84%20 Oct 202517
27 Oct 202506 Nov 2025-1.83%12 Nov 202516

Calendar-year returns

2024
-1.0%
2025
8.3%
2026
5.8%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20262.42.9-4.82.4-2.01.52.30.70.65.8
20252.41.3-3.4-1.91.82.50.01.90.60.22.50.38.3
20244.0-3.9-1.0
From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested where declared). Deeper colour = larger move.
Issuer-declared series with dividends reinvested: the total performance, comparable with accumulating funds. Switch it off to see the price (NAV) alone, which drops at every dividend payment.
Source: JPMorgan. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.

Risk indicators· EUR

Last yearFull history
Volatility (ann.)9.10%13.33%
Max drawdown-6.16%-18.66%
Sharpe0.06-0.44
Sortino0.08-0.58
Windows longer than the available price history cannot be computed and are not shown: they will appear on their own as time passes. Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.20%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR — series converted day by day at ECB reference rates; the table follows the currency selected in the chart.

Portfolio holdings

Securities in portfolio
267
268 total lines: 1 cash & derivatives
Top-10 weight
22.6%

Top 10 holdings

NVIDIA CORP · NVDA
3.00%
APPLE INC · AAPL
2.83%
MICROSOFT CORP · MSFT
2.79%
AMAZON.COM INC · AMZN
2.43%
ALPHABET INC-CL A · GOOGL
2.07%
BROADCOM INC · AVGO
1.96%
JOHNSON & JOHNSON · JNJ
1.94%
MASTERCARD INC - A · MA
1.92%
META PLATFORMS INC-CLASS A · META
1.86%
ABBVIE INC · ABBV
1.76%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustraliaAustriaAzerbaijanBurundiBelgiumBeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanadaSwitzerland: 0.7%ChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermanyDjiboutiDenmarkDominican RepublicAlgeriaEcuadorEgyptEritreaSpainEstoniaEthiopiaFinlandFijiFalkland IslandsFranceGabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIreland: 5.6%IranIraqIcelandIsraelItalyJamaicaJordanJapanKazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 0.4%NorwayNepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugalParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSwedenSwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of America: 93.2%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
United States93.2%
Ireland5.6%
Switzerland0.7%
Netherlands0.4%
⬇ Download the full portfolio — Excel, 268 rows
Full portfolio declared by JPMorgan, as of 1 September 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding.
Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

Dividends

Latest dividend
0.1878 USD
ex 13 Aug 2026 · paid 4 Sept 2026
Dividends, last 12 months
1.84 USD
Dividend yield
7.41%
12-month sum over the NAV as of 3 Sept 2026

Yield by year

PeriodDividendsDividend yield
1 year1.84 USD7.56 %
20251.76 USD7.17 %

Dividend contribution to total return

0%10%+9.62 %1 year+7.89 %2025
dividendsprice changeprice decline

Calendar per share (USD)

YearJanFebMarAprMayJunJulAugSepOctNovDec
20260.190.130.120.140.220.180.140.19
20250.100.080.170.100.090.280.170.230.120.130.150.13
20240.15

Latest dividends

Per shareEx-dividend dateRecord datePayment
0.1878 USD13 Aug 202614 Aug 20264 Sept 2026
0.1443 USD9 Jul 202610 Jul 20267 Aug 2026
0.1825 USD11 Jun 202612 Jun 20268 Jul 2026
0.215 USD21 May 202622 May 20265 Jun 2026
0.1424 USD9 Apr 202610 Apr 20268 May 2026
0.1196 USD12 Mar 202613 Mar 20267 Apr 2026
0.1309 USD12 Feb 202613 Feb 20266 Mar 2026
0.1926 USD15 Jan 202616 Jan 20266 Feb 2026
Per-share dividends as declared by the issuer, in USD, since the first payment (12 Dec 2024). Past dividends are not indicative of future ones.

Share classes of the same fund

This page covers ISIN IE000U5MJOZ6 (share class JPM - USD (dist)). The other classes belong to the same fund but may differ in currency, income policy or currency hedging.
Share classISINTickerIncomeCurrency
JPM - USD (acc)IE0000EAPBT6JEIAAccumulatingUSD
JPM - EUR Hedged (dist)IE0006YCYW06JEIEDistributingEUR
JPM - EUR (dist)IE000RE0SQM6JIPDDistributingEUR
JPM - USD (dist) · this pageIE000U5MJOZ6JEPIDistributingUSD
Share classes declared by the issuer in official product lists (same fund = same issuer and same declared name). A dash “—” = not declared — not a zero.

ETFs declaring the same index

FundTERIncomeFund size
JUIE · JPMorgan · 3 classesactive
0.20%Acc.13.3 mld EUR
JUSE · JPMorgan · 2 classesactive
0.39%Acc.47 mln EUR
HELO · JPMorganactive
0.50%Acc.14 mln EUR
4 ETFs in our census declare this index (including this fund). Funds declaring the exact same index, word for word, in official product lists. Differently-worded variants (or other index versions) are not shown: a short list beats a wrong match. Sorted by TER. A dash “—” = not declared by the issuer in the files we read — not a zero.

Italian taxation

Effective rate on capital gains
26.00%
White-list share
0.00%
From the government-bond («white list») share certified by the issuer every semester: 12.5% on that portion, 26% on the rest.
Deep-dive into this fund’s taxation →

Where it shows up commission-free in Italy

According to the official lists published by the brokers (downloaded and cross-checked by us), these share classes of the fund appear tradable with zero fees:

IE000U5MJOZ6JEPI(class: USD (dist))
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
IE0000EAPBT6JEIA(class: USD (acc))
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
Full terms, traps and method in the observatory: Free savings plans and zero-commission ETFs: the broker survey

Official lists verified on 3 September 2026. We record published terms — this is neither an invitation to open accounts nor a recommendation: lists change, the broker’s documents prevail. Trade Republic, Scalable Capital and Trading 212 publish no per-ISIN lists and don’t appear here.

Stock exchange listings

ExchangeTickerTrading since
Borsa Italiana (ETFplus)JEPI28 Jan 2025
Börse DüsseldorfJEIP6 Nov 2024
Börse FrankfurtJEIP6 Nov 2024
Börse HamburgJEIP19 Nov 2024
Börse HannoverJEIP9 Dec 2024
Börse München / gettexJEIP6 Nov 2024
Börse StuttgartJEIP17 Dec 2024
Tradegate ExchangeJEIP15 Nov 2024
Xetra (Deutsche Börse)JEIP6 Nov 2024
+ 13 more trading venues (MTFs and professional platforms).
Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.

Frequently asked questions

Which index does US Equity Premium Income Active UCITS ETF track?
The issuer JPMorgan declares the benchmark: SPTR500N.
How much does JEPI cost?
The issuer-declared TER is 0.35% per year; the transaction costs estimated in the KID are 0.23%.
How is JEPI taxed in Italy?
On sale, the capital gain is taxed at an effective 26.00% rate (white-list share 0.00%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of JEPI?
The fund size declared by JPMorgan is about 571 million euro.
When was JEPI launched?
The fund was launched on 29 October 2024: it has 1 year of history.
Is JEPI actively or passively managed?
It is an ACTIVELY managed ETF: the manager picks the holdings, it does not replicate an index. The declared benchmark (SPTR500N) is a yardstick for comparison, not an index being tracked.
Does JEPI pay dividends?
Yes: it is a distributing share class — income is paid out periodically (issuer wording: “Distribution”).
Where does JEPI trade?
Per the official ESMA register it trades on 9 main exchanges, including Borsa Italiana (ETFplus) (JEPI), Börse Düsseldorf (JEIP), Börse Frankfurt (JEIP), Börse Hamburg (JEIP), Börse Hannover (JEIP), Börse München / gettex (JEIP).
What was JEPI's worst fall?
Over the available history (since 2024), the maximum drawdown was -15.31%, reached in April 2025. Past performance is not indicative of future results.
How many securities does JEPI hold?
The declared portfolio holds 267 securities (plus 1 cash & derivative lines); the top 10 positions weigh 22.6%.
Transparency note
The data in this sheet is declared by JPMorgan in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.