JEPI’s worst drop since 2020 was 14%
JPMorgan Equity Premium Income ETF (JEPI) fell 14% from Apr 2022 to Sep 2022. It took 1.2 years from that peak to close at a new high, in Jun 2023. Over the same years the S&P 500 fell as much as 25%.
That drop is milder than most. It ranks 189th of the 203 ETFs PortfolioAutopsy tracks, counted from the deepest.
Drawdown from the last high, 2020 to now
How JEPI held up in each crash
| Crash | Years | JEPI | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | not trading yet | −47.5% |
| Financial crisis | 2007–09 | not trading yet | −55.2% |
| COVID crash | 2020 | not trading yet | −33.7% |
| 2022 rate shock | 2022 | −13.7% | −24.5% |
Each number is the deepest fall from a high inside that window, using daily prices with dividends reinvested.
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What was JEPI’s maximum drawdown?
JEPI’s deepest fall since 2020 was 13.7%, from its high on April 20, 2022 to its low on September 30, 2022. The figure uses daily prices with dividends reinvested.
How long did JEPI take to recover?
1.2 years. JEPI first closed above its Apr 2022 high again on June 16, 2023.
Was JEPI riskier than the S&P 500?
Over the same years, JEPI’s worst drop was 13.7% against 24.5% for the S&P 500 (SPY), and its worst 12 months were −7.5% against −19.7%.
Compare with
Daily adjusted closes from Yahoo Finance, May 22, 2020 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.