SCHD and JEPI are only moderately correlated (0.82) over the past five years, so they behave meaningfully differently.
SCHD delivered the higher five-year annualized total return (10.5% vs 5.5% for JEPI), though it is only one window and says nothing about the future.
SCHD was the more volatile of the two (14.6% vs 11.3% annualized).
On cost, SCHD is cheaper — 0.06% versus 0.35% for JEPI.
The numbers, side by side
Per-fund metrics. Returns are total return (dividends reinvested, net of fees); volatility, drawdown and correlation are computed from daily closing prices over the trailing five-year window ending Aug 7, 2026.
| Metric | SCHD | JEPI |
|---|---|---|
| 5-yr annualized returntotal return, incl. dividends & fees | 10.5% | 5.5% |
| 5-yr annualized volatilitystandard deviation of daily returns | 14.6% | 11.3% |
| Max drawdown (5-yr window)worst peak-to-trough decline | -18.9% | -20.0% |
| Return per unit of riskSharpe-style, 4.7% risk-free | 0.40 | 0.07 |
| Expense ratioannual fund cost | 0.06% | 0.35% |
How similar are they?
| Relationship metric | SCHD & JEPI |
|---|---|
| Correlation of daily returns5-yr; 1.00 = moves identically | 0.82 |
| Sector overlapΣ min(weight) across sectors | 0.0% |
Where each fund is concentrated
SCHD — top sectors
- Healthcare20.77%
- Consumer Defensive20.64%
- Energy14.13%
JEPI — top sectors
- Bonds and Debt100.0%
Go deeper
For the full write-up, read Best Dividend ETFs 2026: SCHD vs VYM vs DGRO vs DVY Compared.
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Get your free analysisFigures computed by MinMaxDoc from historical market data as of Aug 7, 2026; they will drift as markets move.