Last year, I was bullish on the JPMorgan Equity Premium Income ETF (NYSEARCA:JEPI) relative to the Schwab U.S. Dividend Equity ETF (SCHD). This view played out for the most part, however in December 2023, the alpha created by JEPI relative to SCHD was nullified to close to 0 as there was a reversal in the pair trade. I have discussed more details on this performance in my latest article on SCHD. By the way, please note that my stance on SCHD has changed to a 'Neutral/Hold', which I have expressed in a pinned comment.