BWDTX vs. JCPB

Last updated Jun 23, 2026

BWDTX (Boyd Watterson Limited Duration Enhanced Income Fund) and JCPB (JPMorgan Core Plus Bond ETF) are both funds - BWDTX is a Multisector Bonds fund managed by Boyd Watterson, while JCPB is a Intermediate Core-Plus Bond fund actively managed by JPMorgan. Over the past 5 years, BWDTX returned 4.25%/yr vs 1.08%/yr for JCPB. At a 0.49 correlation, their price movements are largely independent. BWDTX charges 0.40%/yr vs 0.38%/yr for JCPB.

Performance

BWDTX vs. JCPB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Boyd Watterson Limited Duration Enhanced Income Fund (BWDTX) and JPMorgan Core Plus Bond ETF (JCPB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BWDTX achieves a 1.78% return, which is significantly higher than JCPB's 0.77% return.

BWDTX

• 1D: 0.00%
• 1M: 0.50%
• YTD: 1.78%
• 6M: 2.09%
• 1Y: 5.93%
• 3Y*: 6.50%
• 5Y*: 4.25%
• 10Y*: —

JCPB

• 1D: -0.21%
• 1M: 0.65%
• YTD: 0.77%
• 6M: 0.88%
• 1Y: 5.46%
• 3Y*: 5.13%
• 5Y*: 1.08%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BWDTX vs. JCPB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BWDTX Boyd Watterson Limited Duration Enhanced Income Fund	1.78%	7.14%	4.92%	9.80%	-3.16%	2.32%	4.66%	5.74%
JCPB JPMorgan Core Plus Bond ETF	0.77%	7.98%	2.96%	7.13%	-12.90%	-0.51%	9.19%	7.76%

Correlation

The correlation between BWDTX and JCPB 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	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (All Time) Calculated using the full available price history since Jan 30, 2019	0.49

The correlation between BWDTX and JCPB shifts across timeframes, from 0.49 (all time) to 0.68 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

BWDTX vs. JCPB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BWDTX

BWDTX Risk / Return Rank: 98
BWDTX Sharpe Ratio Rank: 99
BWDTX Sortino Ratio Rank: 99
BWDTX Omega Ratio Rank: 98
BWDTX Calmar Ratio Rank: 96
BWDTX Martin Ratio Rank: 98

JCPB

JCPB Risk / Return Rank: 42
JCPB Sharpe Ratio Rank: 43
JCPB Sortino Ratio Rank: 44
JCPB Omega Ratio Rank: 41
JCPB Calmar Ratio Rank: 42
JCPB Martin Ratio Rank: 39

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BWDTX vs. JCPB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Boyd Watterson Limited Duration Enhanced Income Fund (BWDTX) and JPMorgan Core Plus Bond ETF (JCPB). 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.

	BWDTX	JCPB	Difference
Sharpe ratio: Return per unit of total volatility	4.57	1.47	+3.10
Sortino ratio: Return per unit of downside risk	7.77	2.19	+5.58
Omega ratio: Gain probability vs. loss probability	2.34	1.26	+1.07
Calmar ratio: Return relative to maximum drawdown	5.98	2.02	+3.96
Martin ratio: Return relative to average drawdown	30.22	5.83	+24.39

BWDTX vs. JCPB - Sharpe Ratio Comparison

The current BWDTX Sharpe Ratio is 4.57, which is higher than the JCPB Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of BWDTX and JCPB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BWDTX vs. JCPB - Drawdown Comparison

The maximum BWDTX drawdown since its inception was -10.06%, smaller than the maximum JCPB drawdown of -16.67%. Use the drawdown chart below to compare losses from any high point for BWDTX and JCPB.

Drawdown Indicators

	BWDTX	JCPB	Difference
Max Drawdown Largest peak-to-trough decline	-10.06%	-16.67%	+6.61%
Max Drawdown (1Y) Largest decline over 1 year	-1.00%	-2.71%	+1.71%
Max Drawdown (3Y) Largest decline over 3 years	-2.21%	-5.97%	+3.76%
Max Drawdown (5Y) Largest decline over 5 years	-6.35%	-16.67%	+10.32%
Current Drawdown Current decline from peak	-0.10%	-1.29%	+1.19%
Average Drawdown Average peak-to-trough decline	-0.67%	-4.24%	+3.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.20%	0.94%	-0.74%

Volatility

BWDTX vs. JCPB - Volatility Comparison

The current volatility for Boyd Watterson Limited Duration Enhanced Income Fund (BWDTX) is 0.39%, while JPMorgan Core Plus Bond ETF (JCPB) has a volatility of 1.06%. This indicates that BWDTX experiences smaller price fluctuations and is considered to be less risky than JCPB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BWDTX	JCPB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.39%	1.06%	-0.67%
Volatility (6M) Calculated over the trailing 6-month period	1.04%	2.83%	-1.79%
Volatility (1Y) Calculated over the trailing 1-year period	1.30%	3.74%	-2.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.21%	5.39%	-3.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.20%	5.04%	-2.84%

BWDTX vs. JCPB - Expense Ratio Comparison

BWDTX has a 0.40% expense ratio, which is higher than JCPB's 0.38% expense ratio.

Dividends

BWDTX vs. JCPB - Dividend Comparison

BWDTX's dividend yield for the trailing twelve months is around 5.64%, more than JCPB's 4.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BWDTX Boyd Watterson Limited Duration Enhanced Income Fund	5.64%	5.70%	4.13%	5.51%	3.80%	3.20%	3.18%	3.47%	4.18%	2.90%	1.35%
JCPB JPMorgan Core Plus Bond ETF	4.92%	4.90%	5.16%	4.32%	3.01%	2.19%	2.97%	3.01%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BWDTX and JCPB in my portfolio?

BWDTX and JCPB 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.

Which is riskier, BWDTX or JCPB?

JCPB has higher volatility (1.06%) compared to BWDTX (0.39%). In terms of maximum drawdown, BWDTX dropped -10.06% vs JCPB's -16.67%.

Which has better risk-adjusted returns?

BWDTX currently has the higher Sharpe Ratio (4.57 vs 1.47), 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.