CGBD vs. JEPI

Last updated Aug 4, 2026

CGBD (TCG BDC, Inc.) is a stock, while JEPI (JPMorgan Equity Premium Income ETF) is Dividend fund actively managed by JPMorgan. Over the past 5 years, CGBD returned 6.39%/yr vs 7.50%/yr for JEPI. Their 0.36 correlation means their historical movements had little consistent relationship.

Performance

CGBD vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCG BDC, Inc. (CGBD) and JPMorgan Equity Premium Income ETF (JEPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CGBD achieves a -12.00% return, which is significantly lower than JEPI's 5.04% return.

CGBD

• 1D: 2.70%
• 1M: -5.79%
• 6M: -9.01%
• YTD: -12.00%
• 1Y: -14.53%
• 3Y*: -1.90%
• 5Y*: 6.39%
• 10Y*: —
• ALL TIME*: 6.45%

JEPI

• 1D: 0.50%
• 1M: 1.78%
• 6M: 2.32%
• YTD: 5.04%
• 1Y: 11.72%
• 3Y*: 9.69%
• 5Y*: 7.50%
• 10Y*: —
• ALL TIME*: 11.36%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CGBD TCG BDC, Inc.	$5.87M	$6.31M	$6.07M
JEPI JPMorgan Equity Premium Income ETF	$264.83M	$261.34M	$294.89M

CGBD vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
CGBD TCG BDC, Inc.	-12.00%	-21.53%	33.53%	18.01%	17.70%	49.48%	39.83%
JEPI JPMorgan Equity Premium Income ETF	5.04%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.39%

Correlation

The correlation between CGBD and JEPI is 0.32, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.32
Correlation (3Y) Balances recent behavior with more history.	0.37
Correlation (5Y) Shows whether the relationship held over a longer period.	0.39
Correlation (All Time) Calculated using the full available price history since May 21, 2020	0.36

Return for Risk

CGBD vs. JEPI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CGBD

CGBD Risk / Return Rank: 14
CGBD Sharpe Ratio Rank: 15
CGBD Sortino Ratio Rank: 15
CGBD Omega Ratio Rank: 17
CGBD Calmar Ratio Rank: 13
CGBD Martin Ratio Rank: 8

JEPI

JEPI Risk / Return Rank: 56
JEPI Sharpe Ratio Rank: 61
JEPI Sortino Ratio Rank: 63
JEPI Omega Ratio Rank: 62
JEPI Calmar Ratio Rank: 48
JEPI Martin Ratio Rank: 44

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CGBD vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCG BDC, Inc. (CGBD) and JPMorgan Equity Premium Income ETF (JEPI). 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.

	CGBD	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	-0.63	1.46	-2.09
Sortino ratio: Return per unit of downside risk	-0.80	2.14	-2.94
Omega ratio: Gain probability vs. loss probability	0.91	1.27	-0.36
Calmar ratio: Return relative to maximum drawdown	-0.79	1.76	-2.55
Martin ratio: Return relative to average drawdown	-1.38	4.99	-6.37

CGBD vs. JEPI - Sharpe Ratio Comparison

The current CGBD Sharpe Ratio is -0.63, which is lower than the JEPI Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of CGBD and JEPI, 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

CGBD vs. JEPI - Drawdown Comparison

The maximum CGBD drawdown since its inception was -71.09%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for CGBD and JEPI.

Drawdown Indicators

	CGBD	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-71.09%	-13.71%	-57.38%
Max Drawdown (1Y) Largest decline over 1 year	-18.52%	-6.68%	-11.84%
Max Drawdown (3Y) Largest decline over 3 years	-35.06%	-13.26%	-21.80%
Max Drawdown (5Y) Largest decline over 5 years	-35.06%	-13.71%	-21.35%
Current Drawdown Current decline from peak	-33.29%	-0.18%	-33.11%
Average Drawdown Average peak-to-trough decline	-12.81%	-2.13%	-10.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.56%	2.35%	+8.21%

Volatility

CGBD vs. JEPI - Volatility Comparison

TCG BDC, Inc. (CGBD) has a higher volatility of 7.33% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.21%. This indicates that CGBD's price experiences larger fluctuations and is considered to be riskier than JEPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CGBD	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.33%	2.21%	+5.12%
Volatility (6M) Calculated over the trailing 6-month period	18.60%	6.39%	+12.21%
Volatility (1Y) Calculated over the trailing 1-year period	23.21%	8.10%	+15.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.86%	11.11%	+10.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.58%	10.73%	+23.85%

Dividends

CGBD vs. JEPI - Dividend Comparison

CGBD's dividend yield for the trailing twelve months is around 15.11%, more than JEPI's 7.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CGBD TCG BDC, Inc.	15.11%	13.21%	10.43%	11.76%	11.46%	10.92%	14.33%	13.00%	13.55%	6.09%
JEPI JPMorgan Equity Premium Income ETF	7.99%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CGBD and JEPI in my portfolio?

CGBD and JEPI have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CGBD or JEPI?

CGBD has higher volatility (7.33%) compared to JEPI (2.21%). In terms of maximum drawdown, CGBD dropped -71.09% vs JEPI's -13.71%.

Which has better risk-adjusted returns?

JEPI currently has the higher Sharpe Ratio (1.46 vs -0.63), 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.