PBE vs. JEPI

Last updated Jun 16, 2026

PBE (Invesco Dynamic Biotechnology & Genome ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - PBE is a Health & Biotech Equities fund tracking the Dynamic Biotech & Genome Intellidex Index (AMEX), while JEPI is a Dividend fund actively managed by JPMorgan. PBE is passively managed, while JEPI is actively managed. Over the past 5 years, PBE returned 2.31%/yr vs 7.65%/yr for JEPI. A 0.55 correlation means they provide meaningful diversification when combined. PBE charges 0.59%/yr vs 0.35%/yr for JEPI.

Performance

PBE vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Biotechnology & Genome ETF (PBE) and JPMorgan Equity Premium Income ETF (JEPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PBE achieves a 3.32% return, which is significantly higher than JEPI's 1.89% return.

PBE

• 1D: 0.81%
• 1M: 4.85%
• YTD: 3.32%
• 6M: 5.17%
• 1Y: 34.13%
• 3Y*: 10.91%
• 5Y*: 2.31%
• 10Y*: 8.90%

JEPI

• 1D: 0.59%
• 1M: 1.56%
• YTD: 1.89%
• 6M: 1.70%
• 1Y: 8.98%
• 3Y*: 9.19%
• 5Y*: 7.65%
• 10Y*: —

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

PBE vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PBE Invesco Dynamic Biotechnology & Genome ETF	3.32%	24.84%	1.10%	3.71%	-10.83%	1.54%	19.55%
JEPI JPMorgan Equity Premium Income ETF	1.89%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.39%

Correlation

The correlation between PBE and JEPI is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (All Time) Calculated using the full available price history since May 21, 2020	0.55

The correlation between PBE and JEPI has been stable across timeframes, ranging from 0.54 to 0.60 - a consistent structural relationship.

PBE vs. JEPI - Sectors Allocation Comparison

Sectors	PBE	JEPI
Healthcare	99.9%	12.0%
Financial Services	0.2%	7.4%
Basic Materials	-	1.6%
Communication Services	-	6.2%
Consumer Cyclical	-	10.1%
Consumer Defensive	-	8.1%
Energy	-	2.7%
Industrials	-	9.5%
Real Estate	-	2.9%
Technology	-	14.5%
Utilities	-	4.7%

Return for Risk

PBE vs. JEPI — Risk / Return Rank

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

PBE

PBE Risk / Return Rank: 58
PBE Sharpe Ratio Rank: 58
PBE Sortino Ratio Rank: 63
PBE Omega Ratio Rank: 53
PBE Calmar Ratio Rank: 63
PBE Martin Ratio Rank: 52

JEPI

JEPI Risk / Return Rank: 33
JEPI Sharpe Ratio Rank: 34
JEPI Sortino Ratio Rank: 34
JEPI Omega Ratio Rank: 33
JEPI Calmar Ratio Rank: 30
JEPI Martin Ratio Rank: 31

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.

PBE vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Biotechnology & Genome ETF (PBE) 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.

	PBE	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	1.81	1.13	+0.68
Sortino ratio: Return per unit of downside risk	2.68	1.68	+1.00
Omega ratio: Gain probability vs. loss probability	1.31	1.21	+0.10
Calmar ratio: Return relative to maximum drawdown	2.92	1.35	+1.57
Martin ratio: Return relative to average drawdown	8.21	4.09	+4.12

PBE vs. JEPI - Sharpe Ratio Comparison

The current PBE Sharpe Ratio is 1.81, which is higher than the JEPI Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of PBE and JEPI, 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

PBE vs. JEPI - Drawdown Comparison

The maximum PBE drawdown since its inception was -45.69%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for PBE and JEPI.

Drawdown Indicators

	PBE	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-45.69%	-13.71%	-31.98%
Max Drawdown (1Y) Largest decline over 1 year	-11.73%	-6.68%	-5.05%
Max Drawdown (3Y) Largest decline over 3 years	-22.43%	-13.26%	-9.17%
Max Drawdown (5Y) Largest decline over 5 years	-34.71%	-13.71%	-21.00%
Max Drawdown (10Y) Largest decline over 10 years	-37.84%	—	—
Current Drawdown Current decline from peak	-1.00%	-3.18%	+2.18%
Average Drawdown Average peak-to-trough decline	-16.21%	-2.13%	-14.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.17%	2.20%	+1.97%

Volatility

PBE vs. JEPI - Volatility Comparison

Invesco Dynamic Biotechnology & Genome ETF (PBE) has a higher volatility of 6.04% compared to JPMorgan Equity Premium Income ETF (JEPI) at 2.12%. This indicates that PBE'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.

Volatility by Period

	PBE	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.04%	2.12%	+3.92%
Volatility (6M) Calculated over the trailing 6-month period	13.67%	6.23%	+7.44%
Volatility (1Y) Calculated over the trailing 1-year period	19.01%	8.01%	+11.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.48%	11.08%	+11.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.91%	10.79%	+14.12%

PBE vs. JEPI - Expense Ratio Comparison

PBE has a 0.59% expense ratio, which is higher than JEPI's 0.35% expense ratio.

Dividends

PBE vs. JEPI - Dividend Comparison

PBE's dividend yield for the trailing twelve months is around 1.02%, less than JEPI's 8.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPI JPMorgan Equity Premium Income ETF	8.13%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%	0.00%	0.00%	0.00%	0.00%
PBE Invesco Dynamic Biotechnology & Genome ETF	1.02%	1.00%	0.05%	0.02%	0.00%	0.00%	0.04%	0.00%	0.00%	0.57%	0.38%	1.12%

Frequently Asked Questions

Can I hold both PBE and JEPI in my portfolio?

PBE and JEPI have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PBE or JEPI?

PBE has higher volatility (6.04%) compared to JEPI (2.12%). In terms of maximum drawdown, PBE dropped -45.69% vs JEPI's -13.71%.

Which ETF is better, PBE or JEPI?

On 5-year performance, JEPI leads with 7.65% vs 2.31% for PBE. On fees, JEPI is cheaper at 0.35% per year. On volatility, JEPI has been the lower-risk option at 2.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PBE or JEPI?

Over the 5-year period, JEPI has performed better with a 7.65% return vs 2.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PBE or JEPI?

JEPI is cheaper with a 0.35% expense ratio, compared with 0.59% for PBE.

Which ETF pays a higher dividend yield, PBE or JEPI?

JEPI has the higher dividend yield at 8.13%, compared with 1.02% for PBE.

What is the main difference between PBE and JEPI?

PBE is categorized as Health & Biotech Equities, while JEPI is Dividend. They also come from different issuers: Invesco and JPMorgan. Their fees differ too: 0.59% for PBE and 0.35% for JEPI.

Which has better risk-adjusted returns?

PBE currently has the higher Sharpe Ratio (1.81 vs 1.13), 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.