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JEPI ETF Review | JPMorgan Equity Premium Income ETF Review | MONTHLY PAY | COVERED CALLS | Vs QYLD - YouTube
Channel: Retire With Less
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hey guys welcome back to the channel
today i have one
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that i'm excited about it's fairly new
but then again it's not new what am i
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talking about
stick around and let's find out
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so you know i'm always about those uh
monthly payers those high yielders
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this one is no exception but it's new
so it's kind of like one of those where
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you want to probably want
to put it on the back burner for a
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minute
just to see how it works
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you see what i'm saying it um
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being brand new you don't
especially with an income fund
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you want a little bit of a history right
you at least want to see that it's going
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to be consistent with what it plans to
do
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um with that being said
if you're new here please give me a like
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share subscribe
if you haven't checked out my other
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videos i got
a bunch of videos on etfs and funds that
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provide
current income high yield current income
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i try not to
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push high dangerous high yield
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but you know there's a big difference
between being an income investor and a
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dividend investor
and if you're looking for income
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you have to be very careful with the
funds that you go after
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right so we're gonna we're gonna go over
this a little bit today
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and you know there's not a lot of
history here so i'm just gonna give you
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an overview
and uh put it on your
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watch list and i'll do some reviews and
updates
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as the months go by and and income gets
paid out on this thing okay
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so what are we looking at we are looking
at the jp morgan chase
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j e p i equity premium
income etf
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jepi and we're just going to go over
and look at if you look at this 30 day
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yield
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you're looking at 11.85 percent
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11.85 so let's go over the overview here
generates income through a combination
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of
selling options and investing in u.s
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large cap stocks
seeking to deliver a monthly income
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income stream
from associated option premiums and
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stock dividends
so it constructs a diversified
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low volatility
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and it also seeks to deliver a
significant portion of the returns
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associated with the s p 500 index
with less volatility in addition to
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monthly income
we'll go down and look at here the
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portfolio managers we have hamilton
reiner we click on his name was it going
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to give me anything
it will 11 years with jp morgan 33 years
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in the industry
he has been managing u.s equities and
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u.s derivatives
since 1987 at firms such as barclays
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capital
lehman brothers and
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deutsche bank he started his career at
the options
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investing firm o'connor and associates
where he developed his passion for
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derivatives investing
hamilton obtained a bse in finance from
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the wharton school
of the university of pennsylvania
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who's the other guy raphael zingone
see if we get some info on rafael here
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he's a cfa head of the u.s structured
equity group
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an employee since 1991 ralph is
responsible for the management of a
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range of large-cap structured equity
portfolios
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so he was a reach research analyst
following the aerospace environmental
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and diversified manufacturing sectors
upon
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joining the firm he was a quantitative
equity analyst
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and later served as a u.s equity
portfolio manager
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in london and new york 29 years with jp
morgan 29 years
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in the industry that's a good sign
now so if you look at it hamilton runs
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the options place
and raphael assembles the portfolio
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so even though you know this fund is
relatively new they don't have new
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people
running it so that's a good thing so
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the fund inception date may 20th 2020
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currently has a net asset value of 50.84
as of july 9th
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and did i gloss over the expense ratio
it has 105
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holdings let's see where is it at
there it is has a very respectable
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0.35 expense ratio
that's really respectable for an
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actively managed
etf it really is
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see what else we got here this is the
price
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fluctuations since inception of may
20th so it had an inception price of 50
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and it fluctuated quite a bit here but i
mean this chart looks funny but it's
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really not that big of a deal because it
went from 50 to
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51.44 back down to 50 dollars and
13 cents uh back death so it's low was
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you know 49.71 and its
high was 50 51.32
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so not very much movement but we don't
have a whole lot
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of history here
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that's what i just went over
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performance and fees so performance of
one month uh
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market price you're down point four nine
percent
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that's that's pretty much all you got so
since inception
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uh one point five four percent
but that's you know you're only talking
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what is that
six or seven weeks maybe eight weeks
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and it has paid one dividend already and
it was x date was
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july 1st it's going to pay i paid a
couple days ago on july
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7th and it paid 49.408 cents
per share at uh what
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at the 50 price basically so
pretty much a ten percent you know
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no sorry one percent that would
make it a twelve percent roughly uh
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annual yield
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now when i said this fund was relatively
new
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um this fund actually existed
prior to the etf but it existed as a
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mutual fund
and i found it it was under
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j-e-p-i-x but there isn't a
whole lot of information about it
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the one uh piece of information the
couple pieces of information was
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it had a 1.13
expense ratio they had a waiver of
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expenses to bring it down to 0.6
there was a 50 49.95 transaction fee to
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even buy into it
and it had a minimum to invest of 1
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million dollars
so that pretty much counts all of us out
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for the most part i'm sure there's a
couple of us out here that
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probably afford that but the everyday
joe yeah
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we wouldn't have access to this so jp
morgan decided to make this into an etf
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and i think i think this can gain
traction
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but like i said i wouldn't uh
jump right into it i want to see some
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performance
um i don't is it with it being options
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based
this price isn't going to run away from
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you um
it's an income fund so there will be
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some growth here because
they're not uh they're not selling their
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their
they're not selling in the money cover
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calls they're trying to
uh have growth and income
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so if we look at the portfolio of
j-e-p-i that's just a funny name jeffy
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take a look at jeffy here
is actively managed and if we look
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we have uh 76 percent
in north america so 70
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it doesn't show the whole hundred
where's everything else
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oh i see what they're doing so it's 76
percent
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united states under two percent uk
one and a half in ireland under one in
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germany
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the top 10 represents 32 percent of the
portfolio
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and here's why it's uh 19.49
in cash so that this is probably going
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to be
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uh a common thing with this etf
um because when you sell call options
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or any sort of options when you sell
them
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you collect the money in cash so it's
gonna have a cash
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position that will you know most likely
be paid out
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to you as a shareholder
but what are the what is the stock
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portfolio so it's got
amazon microsoft accenture abv
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apple eli lilly alphabet
honeywell pepsi as the top 10.
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pretty strong companies at the top 10.
74.2 six percent in large cap
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uh nineteen point four nine percent and
other that is the cash
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position five percent mid cap one point
two percent and small cap
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and the morningstar style map has this
as a large cap blend
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so we'll see down here uh the sector
exposure you have information technology
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at just under 13 health care at just
under 12
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consumer staples at just under 12.
financials just a little bit above nine
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industrials about eight and a half
consumer discretionary a little over
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seven communications a little over seven
utilities about six and a half materials
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at about two and a half real estate
about two percent
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and about uh two-thirds of a percent
in energy
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so like i've said before i'm going to
repeat it
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i'm probably tired of me and repeating
myself i am going to stay on the
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sideline on this one for a little bit
i'm going to watch it for the next
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couple of payments
and see how well it does and how
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good they are at producing income and i
will do some update videos
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on jeppy and see how it goes so
uh i'd say put this one on your watch
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list if you're an income investor
uh it looks promising
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almost a 12 yield high quality companies
uh good management and a low expense
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ratio for an actively managed etf
this could be a winner if you like this
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video
leave me a comment down below like share
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subscribe do all that good stuff
you guys have a great day and we'll talk
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to you later thanks bye-bye
i am not a financial advisor the
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information contained in this video
is for entertainment and informational
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purposes only
it is not intended to be investment
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advice
please seek a licensed professional for
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any investment
tax or legal advice thank you
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