BCAT vs. JEPQ
BCAT (BlackRock Capital Allocation Term Trust) is a stock, while JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) is Nasdaq-100 fund tracking the Nasdaq-100 Index. Over the past 3 years, BCAT returned 21.85%/yr vs 20.80%/yr for JEPQ. A 0.63 correlation means they provide meaningful diversification when combined.
Performance
BCAT vs. JEPQ - Performance Comparison
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Returns By Period
In the year-to-date period, BCAT achieves a 23.90% return, which is significantly higher than JEPQ's 10.59% return.
BCAT
- 1D
- -0.19%
- 1M
- 3.66%
- YTD
- 23.90%
- 6M
- 23.12%
- 1Y
- 32.64%
- 3Y*
- 21.85%
- 5Y*
- 8.60%
- 10Y*
- —
JEPQ
- 1D
- 0.07%
- 1M
- 2.89%
- YTD
- 10.59%
- 6M
- 10.22%
- 1Y
- 29.42%
- 3Y*
- 20.80%
- 5Y*
- —
- 10Y*
- —
BCAT vs. JEPQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BCAT BlackRock Capital Allocation Term Trust | 23.90% | 16.78% | 19.37% | 19.30% | -5.55% |
JEPQ JPMorgan Nasdaq Equity Premium Income ETF | 10.59% | 15.18% | 24.85% | 36.28% | -11.16% |
Correlation
The correlation between BCAT and JEPQ is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since May 4, 2022 | 0.63 |
The correlation between BCAT and JEPQ has been stable across timeframes, ranging from 0.58 to 0.65 - a consistent structural relationship.
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Return for Risk
BCAT vs. JEPQ — Risk / Return Rank
BCAT
JEPQ
BCAT vs. JEPQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Capital Allocation Term Trust (BCAT) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BCAT | JEPQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.46 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 4.11 | 3.35 | +0.76 |
| Martin ratioReturn relative to average drawdown | 19.31 | 15.94 | +3.37 |
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Drawdowns
BCAT vs. JEPQ - Drawdown Comparison
The maximum BCAT drawdown since its inception was -36.13%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for BCAT and JEPQ.
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Drawdown Indicators
| BCAT | JEPQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.13% | -20.07% | -16.06% |
Max Drawdown (1Y)Largest decline over 1 year | -7.98% | -8.82% | +0.84% |
Max Drawdown (3Y)Largest decline over 3 years | -13.69% | -20.07% | +6.38% |
Max Drawdown (5Y)Largest decline over 5 years | -35.03% | — | — |
Current DrawdownCurrent decline from peak | -0.19% | 0.00% | -0.19% |
Average DrawdownAverage peak-to-trough decline | -12.69% | -3.40% | -9.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.69% | 1.85% | -0.16% |
Volatility
BCAT vs. JEPQ - Volatility Comparison
The current volatility for BlackRock Capital Allocation Term Trust (BCAT) is 4.25%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 5.68%. This indicates that BCAT experiences smaller price fluctuations and is considered to be less risky than JEPQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BCAT | JEPQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.25% | 5.68% | -1.43% |
Volatility (6M)Calculated over the trailing 6-month period | 9.16% | 10.33% | -1.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.57% | 12.85% | -1.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.26% | 16.75% | -1.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.92% | 16.75% | -0.83% |
Dividends
BCAT vs. JEPQ - Dividend Comparison
BCAT's dividend yield for the trailing twelve months is around 20.01%, more than JEPQ's 9.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BCAT BlackRock Capital Allocation Term Trust | 20.01% | 23.45% | 17.48% | 10.08% | 9.01% | 6.42% | 0.48% |
JEPQ JPMorgan Nasdaq Equity Premium Income ETF | 9.97% | 10.53% | 9.65% | 10.03% | 9.44% | 0.00% | 0.00% |
Frequently Asked Questions
BCAT and JEPQ have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JEPQ has higher volatility (5.68%) compared to BCAT (4.25%). In terms of maximum drawdown, BCAT dropped -36.13% vs JEPQ's -20.07%.
BCAT currently has the higher Sharpe Ratio (2.84 vs 2.30), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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