GBDC vs. JEPI
GBDC (Golub Capital BDC, Inc.) is a stock, while JEPI (JPMorgan Equity Premium Income ETF) is Dividend fund actively managed by JPMorgan. Over the past 5 years, GBDC returned 6.35%/yr vs 7.44%/yr for JEPI. At a 0.41 correlation, their price movements are largely independent.
Performance
GBDC vs. JEPI - Performance Comparison
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Returns By Period
In the year-to-date period, GBDC achieves a 0.36% return, which is significantly lower than JEPI's 3.30% return.
GBDC
- 1D
- 1.57%
- 1M
- -0.31%
- 6M
- -0.51%
- YTD
- 0.36%
- 1Y
- -5.37%
- 3Y*
- 10.61%
- 5Y*
- 6.35%
- 10Y*
- 5.94%
JEPI
- 1D
- 0.23%
- 1M
- 1.98%
- 6M
- 1.51%
- YTD
- 3.30%
- 1Y
- 8.32%
- 3Y*
- 9.32%
- 5Y*
- 7.44%
- 10Y*
- —
GBDC vs. JEPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GBDC Golub Capital BDC, Inc. | 0.36% | -0.50% | 13.57% | 27.69% | -6.99% | 17.78% | 32.49% |
JEPI JPMorgan Equity Premium Income ETF | 3.30% | 8.09% | 12.57% | 9.83% | -3.49% | 21.52% | 18.39% |
Correlation
The correlation between GBDC and JEPI is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since May 21, 2020 | 0.41 |
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Return for Risk
GBDC vs. JEPI — Risk / Return Rank
GBDC
JEPI
GBDC vs. JEPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Golub Capital BDC, Inc. (GBDC) 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.
| GBDC | JEPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.24 | ||
| Sortino ratioReturn per unit of downside risk | -1.70 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.18 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.26 | 1.19 | -1.45 |
| Martin ratioReturn relative to average drawdown | -0.53 | 3.41 | -3.94 |
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Drawdowns
GBDC vs. JEPI - Drawdown Comparison
The maximum GBDC drawdown since its inception was -47.30%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for GBDC and JEPI.
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Drawdown Indicators
| GBDC | JEPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.30% | -13.71% | -33.59% |
Max Drawdown (1Y)Largest decline over 1 year | -18.20% | -6.68% | -11.52% |
Max Drawdown (3Y)Largest decline over 3 years | -18.20% | -13.26% | -4.94% |
Max Drawdown (5Y)Largest decline over 5 years | -19.28% | -13.71% | -5.57% |
Max Drawdown (10Y)Largest decline over 10 years | -47.30% | — | — |
Current DrawdownCurrent decline from peak | -7.08% | -1.84% | -5.24% |
Average DrawdownAverage peak-to-trough decline | -6.15% | -2.13% | -4.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.89% | 2.34% | +6.55% |
Volatility
GBDC vs. JEPI - Volatility Comparison
Golub Capital BDC, Inc. (GBDC) has a higher volatility of 5.40% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.36%. This indicates that GBDC'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.
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Volatility by Period
| GBDC | JEPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.40% | 2.36% | +3.04% |
Volatility (6M)Calculated over the trailing 6-month period | 16.27% | 6.33% | +9.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.31% | 8.03% | +11.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.21% | 11.09% | +6.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.61% | 10.76% | +10.85% |
Dividends
GBDC vs. JEPI - Dividend Comparison
GBDC's dividend yield for the trailing twelve months is around 11.15%, more than JEPI's 8.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GBDC Golub Capital BDC, Inc. | 11.15% | 11.50% | 12.73% | 10.00% | 9.35% | 7.58% | 8.44% | 7.70% | 8.49% | 7.47% | 8.32% | 7.70% |
JEPI JPMorgan Equity Premium Income ETF | 8.05% | 8.25% | 7.33% | 8.40% | 11.68% | 6.59% | 5.79% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GBDC and JEPI have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GBDC has higher volatility (5.40%) compared to JEPI (2.36%). In terms of maximum drawdown, GBDC dropped -47.30% vs JEPI's -13.71%.
JEPI currently has the higher Sharpe Ratio (0.99 vs -0.24), 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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