JPMorgan Equity Premium Income Fund
Actively managed U.S. stock fund
As of its 2026 Q2 report, JPMorgan Equity Premium Income Fund held 127 positions with $5.07B in net assets. Its ten largest holdings made up 15.9% of the fund. The JEPAX share class costs 0.84% a year. Over the 12 months to May 2026, JEPAX returned 8.1%, with dividends reinvested. In 2026 Q2 it added 31 new positions and exited 24.
The Fund seeks current income while maintaining prospects for capital appreciation.
The fund invests significantly in S&P 500 Index equities and uses equity-linked notes embedding short call options on the index to generate monthly income; it sells call options to capture premiums but caps its upside at the exercise price plus premium received. The fund seeks lower volatility than the S&P 500 through a research-driven selection process that ranks companies by estimated value relative to market price. Because the fund's returns depend on the performance of its selected securities and the call option premiums it receives, results may diverge from the index.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
ABBVAbbVie, Inc. | 1.73% | $87.62M | 348.2K | $251.64 |
1.69% | $85.52M | 318.1K | $268.86 | |
1.66% | $84.20M | 331.5K | $253.97 | |
Eaton Corp. plc | 1.63% | $82.54M | 193.7K | $426.12 |
Trane Technologies plc | 1.61% | $81.47M | 165.9K | $491.16 |
1.56% | $79.19M | 182.8K | $433.33 | |
NVDANVIDIA Corp. | 1.52% | $77.06M | 385.1K | $200.09 |
AAPLApple, Inc. | 1.52% | $77.02M | 266.2K | $289.36 |
1.51% | $76.65M | 360.1K | $212.85 | |
GOOGLAlphabet, Inc. | 1.50% | $76.17M | 213.1K | $357.37 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
All 127 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 85.49% |
| Bonds | 13.96% |
| Cash & short-term | 1.01% |
By sector
- Information Technology
- 14.7%
- International
- 12.9%
- Health Care
- 12.5%
- Financials
- 10.8%
- 10 other sectors
- 49.2%
- Information Technology
- 14.7%
- International
- 12.9%
- Health Care
- 12.5%
- Financials
- 10.8%
- Consumer Discretionary
- 10.2%
- Industrials
- 9.7%
- Consumer Staples
- 7.6%
- Communication Services
- 5.4%
- Utilities
- 4.8%
- Other
- 3.7%
- Real Estate
- 2.7%
- Energy
- 2.3%
- Materials
- 1.7%
- Cash
- 1.0%
How it has done
JEPAX share class · total returns with dividends reinvested
Volatility over the last 12 months: 7.74%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 5 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.84% | +8.11% | +29.49% | +39.78% | -5.69% | |
| 1.34% | +7.57% | +27.58% | +36.35% | -5.88% | |
| 0.59% | +8.38% | +30.46% | +41.52% | -5.65% | |
| 0.45% | +8.53% | +31.03% | +42.55% | -5.60% | |
| 0.34% | +8.65% | +31.44% | +43.29% | -5.49% |
These classes hold the same portfolio, so the 6.94pp spread over 5 years is the cost difference between them — roughly 1.39pp a year — not a difference in what they own.
Fees & fund details
JPMorgan Equity Premium Income Fund is an actively managed U.S. equity fund. 13% of JEPAX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 93% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.34% – 1.34%· JEPAX 0.84%
- Portfolio turnover
- 178.00% a year · as of 2025 Q4
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
31 new· the largest 6
24 exited· the largest 5
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 100.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 100.0% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Understand how this fund fits with the rest.
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