PBDCX vs. JEPQ

Last updated Aug 1, 2026

PBDCX (PIMCO Investment Grade Credit Bond Fund Class C) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both funds - PBDCX is a Corporate Bonds fund actively managed by PIMCO, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. PBDCX is actively managed, while JEPQ is passively managed. Over the past 3 years, PBDCX returned 3.74%/yr vs 17.49%/yr for JEPQ. Their 0.21 correlation means their historical movements had little consistent relationship. PBDCX charges 2.19%/yr vs 0.35%/yr for JEPQ.

Performance

PBDCX vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Investment Grade Credit Bond Fund Class C (PBDCX) 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, PBDCX achieves a -1.42% return, which is significantly lower than JEPQ's 6.05% return.

PBDCX

• 1D: 0.11%
• 1M: -1.66%
• 6M: -1.73%
• YTD: -1.42%
• 1Y: 1.07%
• 3Y*: 3.74%
• 5Y*: -1.28%
• 10Y*: 1.30%
• ALL TIME*: 3.85%

JEPQ

• 1D: 0.57%
• 1M: -1.92%
• 6M: 3.71%
• YTD: 6.05%
• 1Y: 19.59%
• 3Y*: 17.49%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.56%

*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)
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	$439.89M	$417.31M	$422.49M
PBDCX PIMCO Investment Grade Credit Bond Fund Class C	$0.00	$0.00	$0.00

PBDCX vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PBDCX PIMCO Investment Grade Credit Bond Fund Class C	-1.42%	7.27%	2.10%	6.82%	-4.95%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	6.05%	15.18%	24.85%	36.28%	-11.16%

Correlation

The correlation between PBDCX and JEPQ is 0.31, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.31
Correlation (3Y) Balances recent behavior with more history.	0.20
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.21

The correlation between PBDCX and JEPQ shifts across timeframes, from 0.20 (3 years) to 0.31 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PBDCX vs. JEPQ — Risk / Return Rank

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

PBDCX

PBDCX Risk / Return Rank: 11
PBDCX Sharpe Ratio Rank: 12
PBDCX Sortino Ratio Rank: 11
PBDCX Omega Ratio Rank: 11
PBDCX Calmar Ratio Rank: 12
PBDCX Martin Ratio Rank: 11

JEPQ

JEPQ Risk / Return Rank: 55
JEPQ Sharpe Ratio Rank: 50
JEPQ Sortino Ratio Rank: 48
JEPQ Omega Ratio Rank: 52
JEPQ Calmar Ratio Rank: 58
JEPQ Martin Ratio Rank: 68

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.

PBDCX vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Investment Grade Credit Bond Fund Class C (PBDCX) 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.

	PBDCX	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	0.48	1.22	-0.74
Sortino ratio: Return per unit of downside risk	0.69	1.72	-1.03
Omega ratio: Gain probability vs. loss probability	1.08	1.23	-0.15
Calmar ratio: Return relative to maximum drawdown	0.55	2.02	-1.47
Martin ratio: Return relative to average drawdown	1.44	8.30	-6.86

PBDCX vs. JEPQ - Sharpe Ratio Comparison

The current PBDCX Sharpe Ratio is 0.48, which is lower than the JEPQ Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of PBDCX 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

PBDCX vs. JEPQ - Drawdown Comparison

The maximum PBDCX drawdown since its inception was -23.73%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for PBDCX and JEPQ.

Drawdown Indicators

	PBDCX	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-23.73%	-20.07%	-3.66%
Max Drawdown (1Y) Largest decline over 1 year	-3.98%	-8.82%	+4.84%
Max Drawdown (3Y) Largest decline over 3 years	-5.80%	-20.07%	+14.27%
Max Drawdown (5Y) Largest decline over 5 years	-23.70%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-23.73%	—	—
Current Drawdown Current decline from peak	-6.62%	-4.23%	-2.39%
Average Drawdown Average peak-to-trough decline	-4.03%	-3.38%	-0.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.51%	2.14%	-0.63%

Volatility

PBDCX vs. JEPQ - Volatility Comparison

The current volatility for PIMCO Investment Grade Credit Bond Fund Class C (PBDCX) is 1.22%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 6.09%. This indicates that PBDCX 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

	PBDCX	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.22%	6.09%	-4.87%
Volatility (6M) Calculated over the trailing 6-month period	3.78%	12.15%	-8.37%
Volatility (1Y) Calculated over the trailing 1-year period	4.60%	14.65%	-10.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.37%	16.90%	-10.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.76%	16.90%	-11.14%

PBDCX vs. JEPQ - Expense Ratio Comparison

PBDCX has a 2.19% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

PBDCX vs. JEPQ - Dividend Comparison

PBDCX's dividend yield for the trailing twelve months is around 3.49%, less than JEPQ's 10.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.99%	10.53%	9.65%	10.03%	9.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PBDCX PIMCO Investment Grade Credit Bond Fund Class C	3.49%	3.55%	3.21%	2.45%	2.46%	3.48%	2.69%	2.82%	3.04%	3.33%	2.76%	5.47%

Frequently Asked Questions

Can I hold both PBDCX and JEPQ in my portfolio?

PBDCX and JEPQ have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PBDCX or JEPQ?

JEPQ has higher volatility (6.09%) compared to PBDCX (1.22%). In terms of maximum drawdown, PBDCX dropped -23.73% vs JEPQ's -20.07%.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (1.22 vs 0.48), 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.