PAXS vs. JEPQ
PAXS (PIMCO Access Income Fund) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both funds - PAXS is a Multisector Bonds fund actively managed by PIMCO, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. PAXS is actively managed, while JEPQ is passively managed. Over the past 3 years, PAXS returned 11.71%/yr vs 20.24%/yr for JEPQ. At a 0.35 correlation, their price movements are largely independent.
Performance
PAXS vs. JEPQ - Performance Comparison
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Returns By Period
In the year-to-date period, PAXS achieves a -1.23% return, which is significantly lower than JEPQ's 8.34% return.
PAXS
- 1D
- 0.78%
- 1M
- 1.86%
- YTD
- -1.23%
- 6M
- -2.32%
- 1Y
- 5.29%
- 3Y*
- 11.71%
- 5Y*
- —
- 10Y*
- —
JEPQ
- 1D
- 0.74%
- 1M
- 0.15%
- YTD
- 8.34%
- 6M
- 7.25%
- 1Y
- 24.08%
- 3Y*
- 20.24%
- 5Y*
- —
- 10Y*
- —
PAXS vs. JEPQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PAXS PIMCO Access Income Fund | -1.23% | 12.58% | 19.51% | 9.30% | -5.92% |
JEPQ JPMorgan Nasdaq Equity Premium Income ETF | 8.34% | 15.18% | 24.85% | 36.28% | -11.16% |
Correlation
The correlation between PAXS and JEPQ is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since May 4, 2022 | 0.35 |
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Return for Risk
PAXS vs. JEPQ — Risk / Return Rank
PAXS
JEPQ
PAXS vs. JEPQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Access Income Fund (PAXS) 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.
| PAXS | JEPQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.42 | ||
| Sortino ratioReturn per unit of downside risk | -1.82 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.37 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.44 | 2.74 | -2.30 |
| Martin ratioReturn relative to average drawdown | 1.15 | 12.92 | -11.77 |
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Drawdowns
PAXS vs. JEPQ - Drawdown Comparison
The maximum PAXS drawdown since its inception was -22.28%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for PAXS and JEPQ.
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Drawdown Indicators
| PAXS | JEPQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.28% | -20.07% | -2.21% |
Max Drawdown (1Y)Largest decline over 1 year | -12.10% | -8.82% | -3.28% |
Max Drawdown (3Y)Largest decline over 3 years | -13.40% | -20.07% | +6.67% |
Current DrawdownCurrent decline from peak | -6.55% | -2.04% | -4.51% |
Average DrawdownAverage peak-to-trough decline | -7.55% | -3.39% | -4.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.61% | 1.87% | +2.74% |
Volatility
PAXS vs. JEPQ - Volatility Comparison
The current volatility for PIMCO Access Income Fund (PAXS) is 3.26%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 6.28%. This indicates that PAXS 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.
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Volatility by Period
| PAXS | JEPQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.26% | 6.28% | -3.02% |
Volatility (6M)Calculated over the trailing 6-month period | 9.80% | 10.54% | -0.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.19% | 13.05% | -0.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.38% | 16.78% | +0.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.38% | 16.78% | +0.60% |
Dividends
PAXS vs. JEPQ - Dividend Comparison
PAXS's dividend yield for the trailing twelve months is around 12.60%, more than JEPQ's 10.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
JEPQ JPMorgan Nasdaq Equity Premium Income ETF | 10.18% | 10.53% | 9.65% | 10.03% | 9.44% |
PAXS PIMCO Access Income Fund | 12.60% | 11.72% | 11.76% | 12.54% | 13.30% |
Frequently Asked Questions
PAXS and JEPQ have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JEPQ has higher volatility (6.28%) compared to PAXS (3.26%). In terms of maximum drawdown, PAXS dropped -22.28% vs JEPQ's -20.07%.
JEPQ currently has the higher Sharpe Ratio (1.85 vs 0.44), 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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