JPC vs. BXSL
JPC (Nuveen Preferred and Income Opportunities Fund) is Preferred Stock/Convertible Bonds fund managed by Nuveen, while BXSL (Blackstone Secured Lending Fund) is a stock. Over the past 3 years, JPC returned 17.19%/yr vs 6.33%/yr for BXSL. At a 0.23 correlation, their price movements are largely independent.
Performance
JPC vs. BXSL - Performance Comparison
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Returns By Period
In the year-to-date period, JPC achieves a 0.03% return, which is significantly higher than BXSL's -7.25% return.
JPC
- 1D
- 0.00%
- 1M
- -0.35%
- YTD
- 0.03%
- 6M
- 0.77%
- 1Y
- 7.53%
- 3Y*
- 17.19%
- 5Y*
- 3.69%
- 10Y*
- 5.69%
BXSL
- 1D
- 1.77%
- 1M
- 1.29%
- YTD
- -7.25%
- 6M
- -6.64%
- 1Y
- -14.26%
- 3Y*
- 6.33%
- 5Y*
- —
- 10Y*
- —
JPC vs. BXSL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JPC Nuveen Preferred and Income Opportunities Fund | 0.03% | 14.00% | 27.58% | 0.75% | -19.18% | -0.92% |
BXSL Blackstone Secured Lending Fund | -7.25% | -9.36% | 29.02% | 37.82% | -26.03% | 32.04% |
Correlation
The correlation between JPC and BXSL is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 2021 | 0.23 |
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Return for Risk
JPC vs. BXSL — Risk / Return Rank
JPC
BXSL
JPC vs. BXSL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Preferred and Income Opportunities Fund (JPC) and Blackstone Secured Lending Fund (BXSL). 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.
| JPC | BXSL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.37 | ||
| Sortino ratioReturn per unit of downside risk | +1.97 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.90 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | -0.61 | +1.27 |
| Martin ratioReturn relative to average drawdown | 3.45 | -0.89 | +4.34 |
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Drawdowns
JPC vs. BXSL - Drawdown Comparison
The maximum JPC drawdown since its inception was -76.07%, which is greater than BXSL's maximum drawdown of -36.80%. Use the drawdown chart below to compare losses from any high point for JPC and BXSL.
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Drawdown Indicators
| JPC | BXSL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.07% | -36.80% | -39.27% |
Max Drawdown (1Y)Largest decline over 1 year | -11.43% | -23.47% | +12.04% |
Max Drawdown (3Y)Largest decline over 3 years | -11.65% | -24.21% | +12.56% |
Max Drawdown (5Y)Largest decline over 5 years | -32.26% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -52.53% | — | — |
Current DrawdownCurrent decline from peak | -3.16% | -21.27% | +18.11% |
Average DrawdownAverage peak-to-trough decline | -9.93% | -14.19% | +4.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.19% | 16.04% | -13.85% |
Volatility
JPC vs. BXSL - Volatility Comparison
The current volatility for Nuveen Preferred and Income Opportunities Fund (JPC) is 2.58%, while Blackstone Secured Lending Fund (BXSL) has a volatility of 5.58%. This indicates that JPC experiences smaller price fluctuations and is considered to be less risky than BXSL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPC | BXSL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.58% | 5.58% | -3.00% |
Volatility (6M)Calculated over the trailing 6-month period | 9.95% | 16.59% | -6.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.33% | 20.31% | -8.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.52% | 23.82% | -9.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.64% | 23.82% | -3.18% |
Dividends
JPC vs. BXSL - Dividend Comparison
JPC's dividend yield for the trailing twelve months is around 9.95%, less than BXSL's 13.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BXSL Blackstone Secured Lending Fund | 13.03% | 11.70% | 9.53% | 10.64% | 13.02% | 1.56% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JPC Nuveen Preferred and Income Opportunities Fund | 9.95% | 9.79% | 8.94% | 8.00% | 8.74% | 6.52% | 6.95% | 7.00% | 9.02% | 7.50% | 8.14% | 8.65% |
Frequently Asked Questions
JPC and BXSL have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BXSL has higher volatility (5.58%) compared to JPC (2.58%). In terms of maximum drawdown, JPC dropped -76.07% vs BXSL's -36.80%.
JPC currently has the higher Sharpe Ratio (0.67 vs -0.71), 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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