← All funds
🔒
You're viewing the free teardown. Pro unlocks the deeper sections on this fund — risk assessment, scoring & verdict, track record vs. the underlying, holdings & concentration, peer comparison, pros & cons, and the analyst commentary.
Start your 7-day free trial ARCX · Active · options-income
JEPI
JPMorgan Equity Premium Income ETF
J.P. Morgan Investment Management Inc.
Verdict
Weighted score · Pro 🔒
Fund Identity
What it is, who runs it, where it lives.
The Fund seeks current income while maintaining prospects for capital appreciation..
JEPI builds an actively managed portfolio of U.S. large-cap equity securities selected through a research-driven, valuation-based process that also considers ESG factors. To generate income, the Fund invests up to 20% of net assets in equity-linked notes (ELNs) that embed a covered call strategy referencing the S&P 500 Total Return Index or ETFs that replicate it. The ELNs provide recurring cash flow from call-option premiums and are periodically reset to capitalize on market conditions. The combined approach 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.
Ticker
JEPI
Issuer
J.P. Morgan Investment Management Inc.
Exchange
ARCX
Inception
2020-05-21 · 6.3 yrs
Mgmt style
Active
Replication
Physical (sampled/optimized) for equity sleeve + Synthetic (ELN-based covered calls) for options income sleeve
Index-based
—
Leverage
None
Strategy & Options Mechanics
How the portfolio is built and where the income comes from.
PORTFOLIO
Hybrid
actively managed
OPTIONS OVERLAY
Strategy
Covered Calls (CC) embedded within equity-linked notes (ELNs)
generates income
Underlying
S&P 500 Total Return Index (SPX) or ETFs replicating it
income exposure
MONTHLY
7.9%
DIST. RATE
— ROC
Ordinary Income
Ordinary Income
Underlying
S&P 500 Total Return Index (SPX) or ETFs replicating it
Strategy
Covered Calls (CC) embedded within equity-linked notes (ELNs)
Tax
Ordinary Income
The Fund accesses short call exposure indirectly by purchasing ELNs issued by banks or broker-dealers; each ELN embeds a written call position on the S&P 500 or a replicating ETF, entitling the Fund to the option premium as recurring cash flow. The ELNs are reset periodically to reflect current market conditions. The covered call structure caps upside participation in exchange for premium income that supports the Fund's monthly distribution target.
Performance & NAV
Total return vs. the underlying, with drawdown context.
NAV HISTORY · AUG '25 – AUG '26
AUG '25AUG '26
Flat-NAV reinvestment hurdle
11.2%
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.
Distribution & Tax
Where the yield comes from — and how it’s taxed.
Composition · Recent Distribution
—
ROC
Frequency
Monthly
Dist. rate
7.92%
ROC %
—
30-day SEC
not reported
Consistency
1 w/o cut
YOC · 1yr-ago buyer
8.1%
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, sourced from equity dividends and call-option premiums received through ELNs; distributions are taxed as ordinary income or capital gains to taxable investors.
Distribution Growth & Schedule
Per-period growth of the payout, the latest schedule, and how long distributions take to repay NAV.
Distribution Growth by Lookback Period
Latest Distribution Schedule
Record date
2026-08-03
Ex-dividend
2026-08-03
Pay date
—
Payback Period
12.6 yr
Dist. Since Incep.
$30.0
Holdings & Concentration
Position sizing, top-name weights, and concentration risk.
Sector Mix · Tilt vs S&P 500
No sector feed for this fund.
Holdings
120
Top-10 Wt.
—
Technical Signal & Liquidity
Moving-average posture and a read on tradability.
Price vs. Moving Averages
$57.9$55.7$53.4$51.1
AUG '25AUG '26
Price $57.83
50-DMA $56.35
200-DMA $55.44
Bullish — 50-DMA above 200-DMA
Price $57.83 is above the 200-day SMA ($55.44); 50-day SMA $56.35. 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
Avg daily volume
4.5M
Avg dollar volume
$260,412,832
Bid/ask spread
0.11%
Premium/discount
—
Turnover
172%
Estimated bid/ask spread ~0.11% (tight). Average daily dollar volume ~$260.4M (very liquid). This spread is a high-low estimate, not a live quote; the issuer's reported median spread and premium/discount to NAV are shown above when available.
Assets Under Management
Trend: Stable. Source: shares×price (Massive, monthly).
AUM ($)
$46.10B
$46.24B$23.13B$18M
JUN '24AUG '26
SOURCES Massive market-data API, SEC EDGAR filings, issuer disclosures.
JEPI · 2026-08-19
Prepared by Streamfolio
Research aid, not investment advice.
Prepared by Streamfolio
Research aid, not investment advice.