ECAT vs. JEPQ

Last updated Jun 23, 2026

ECAT (BlackRock ESG Capital Allocation Term Trust) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both funds - ECAT is a Tactical Allocation fund managed by BlackRock, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Over the past 3 years, ECAT returned 19.58%/yr vs 20.80%/yr for JEPQ. A 0.70 correlation means they provide meaningful diversification when combined. ECAT charges 1.43%/yr vs 0.35%/yr for JEPQ.

Performance

ECAT vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock ESG Capital Allocation Term Trust (ECAT) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ECAT achieves a 12.06% return, which is significantly higher than JEPQ's 10.59% return.

ECAT

• 1D: 0.00%
• 1M: 2.19%
• YTD: 12.06%
• 6M: 10.41%
• 1Y: 22.26%
• 3Y*: 19.58%
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: 0.07%
• 1M: 2.89%
• YTD: 10.59%
• 6M: 10.22%
• 1Y: 29.42%
• 3Y*: 20.80%
• 5Y*: —
• 10Y*: —

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

ECAT vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ECAT BlackRock ESG Capital Allocation Term Trust	12.06%	16.64%	19.96%	32.36%	-2.55%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.59%	15.18%	24.85%	36.28%	-11.16%

Correlation

The correlation between ECAT and JEPQ is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.70

The correlation between ECAT and JEPQ has been stable across timeframes, ranging from 0.62 to 0.70 - a consistent structural relationship.

Return for Risk

ECAT vs. JEPQ — Risk / Return Rank

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

ECAT

ECAT Risk / Return Rank: 34
ECAT Sharpe Ratio Rank: 36
ECAT Sortino Ratio Rank: 36
ECAT Omega Ratio Rank: 35
ECAT Calmar Ratio Rank: 29
ECAT Martin Ratio Rank: 33

JEPQ

JEPQ Risk / Return Rank: 75
JEPQ Sharpe Ratio Rank: 75
JEPQ Sortino Ratio Rank: 70
JEPQ Omega Ratio Rank: 80
JEPQ Calmar Ratio Rank: 69
JEPQ Martin Ratio Rank: 82

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.

ECAT vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock ESG Capital Allocation Term Trust (ECAT) 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.

	ECAT	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	1.62	2.30	-0.68
Sortino ratio: Return per unit of downside risk	2.30	3.05	-0.75
Omega ratio: Gain probability vs. loss probability	1.29	1.46	-0.17
Calmar ratio: Return relative to maximum drawdown	1.90	3.35	-1.46
Martin ratio: Return relative to average drawdown	7.04	15.94	-8.90

ECAT vs. JEPQ - Sharpe Ratio Comparison

The current ECAT Sharpe Ratio is 1.62, which is comparable to the JEPQ Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of ECAT and JEPQ, 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

ECAT vs. JEPQ - Drawdown Comparison

The maximum ECAT drawdown since its inception was -32.23%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for ECAT and JEPQ.

Drawdown Indicators

	ECAT	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-32.23%	-20.07%	-12.16%
Max Drawdown (1Y) Largest decline over 1 year	-11.80%	-8.82%	-2.98%
Max Drawdown (3Y) Largest decline over 3 years	-15.79%	-20.07%	+4.28%
Current Drawdown Current decline from peak	-0.46%	0.00%	-0.46%
Average Drawdown Average peak-to-trough decline	-9.04%	-3.40%	-5.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	1.85%	+1.32%

Volatility

ECAT vs. JEPQ - Volatility Comparison

The current volatility for BlackRock ESG Capital Allocation Term Trust (ECAT) is 4.36%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 5.68%. This indicates that ECAT 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.

Volatility by Period

	ECAT	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	5.68%	-1.32%
Volatility (6M) Calculated over the trailing 6-month period	10.99%	10.33%	+0.66%
Volatility (1Y) Calculated over the trailing 1-year period	13.79%	12.85%	+0.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.89%	16.75%	+0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.89%	16.75%	+0.14%

ECAT vs. JEPQ - Expense Ratio Comparison

ECAT has a 1.43% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

ECAT vs. JEPQ - Dividend Comparison

ECAT's dividend yield for the trailing twelve months is around 21.78%, more than JEPQ's 9.97% yield.

Position	TTM	2025	2024	2023	2022	2021
ECAT BlackRock ESG Capital Allocation Term Trust	21.78%	23.00%	17.44%	9.14%	8.94%	0.54%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.97%	10.53%	9.65%	10.03%	9.44%	0.00%

Frequently Asked Questions

Can I hold both ECAT and JEPQ in my portfolio?

ECAT and JEPQ have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ECAT or JEPQ?

JEPQ has higher volatility (5.68%) compared to ECAT (4.36%). In terms of maximum drawdown, ECAT dropped -32.23% vs JEPQ's -20.07%.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.30 vs 1.62), 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.