ARCX · Active · options-income

JPMorgan Equity Premium Income ETF

J.P. Morgan Investment Management Inc.

Weighted score · 3.60 / 5

AUM

assets under mgmt

Avg Volume

shares · daily

Distribution

Monthly · — ROC

Expense Ratio

0.35% gross

1Y Return

vs underlying

Sharpe

Max DD -13.7%

The Fund seeks current income while maintaining prospects for capital appreciation..

JEPI constructs an actively managed portfolio of U.S. large cap equity securities selected through a research-driven, valuation-based process that also considers lower-volatility characteristics. To generate income, the Fund invests up to 20% of net assets in equity-linked notes (ELNs) that embed written call options on the S&P 500 Total Return Index or ETFs replicating it, providing recurring premium income. At least 80% of Assets are held in equity securities including common stocks and ELNs. The strategy is designed to deliver monthly distributions at a relatively stable level while exposing investors to lower volatility than the broad U.S. large cap market.

The Fund gains options exposure indirectly by purchasing ELNs from bank or broker-dealer counterparties; each ELN combines the economic characteristics of the S&P 500 benchmark with a short call position. The ELNs are reset periodically to capitalize on current market conditions and provide relatively stable income. The Fund may invest up to 20% of net assets in ELNs, limiting the options overlay to that portion of the portfolio.

NAV HISTORY · JUL '25 – JUL '26

Max DD

Volatility

Sharpe

Sortino

Calmar

Beta

Share of each distribution you’d need to reinvest just to hold NAV flat. Higher means more of the yield is your own capital coming back.

Composition · Recent Distribution

Tax Treatment — Ordinary Income

ORDINARY INCOME

Distribution Composition (Recent)

ROC is not free money — it lowers your cost basis. When shares are sold, capital gains are computed against the lower basis.

Composition · Narrative

The Fund is designed to provide monthly distributions at a relatively stable level derived from equity dividends, ELN premiums from written call options, and potential capital gains; distributions are taxed as ordinary income or capital gains.

Distribution Growth by Lookback Period

Sector Mix · Tilt vs S&P 500

Price vs. Moving Averages

Bullish — 50-DMA above 200-DMA

Price $56.75 is above the 200-day SMA ($55.21); 50-day SMA $55.60. The 50-day SMA sits above the 200-day — an established uptrend, no recent crossover. Moving-average signals are a timing aid, not a recommendation — weigh them against the distribution profile and framework score.

Liquidity

Estimated bid/ask spread ~0.18% (moderate). Average daily dollar volume ~$312.1M (very liquid). This spread is a high-low estimate, not a live quote; the issuer's reported median spread and premium/discount to NAV are shown above when available.

AUM ($)