PBE vs. JEPQ

Last updated Jun 16, 2026

PBE (Invesco Dynamic Biotechnology & Genome ETF) and JEPQ (JPMorgan Nasdaq 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 JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Both are passively managed. Over the past 3 years, PBE returned 10.91%/yr vs 20.72%/yr for JEPQ. At a 0.49 correlation, their price movements are largely independent. PBE charges 0.59%/yr vs 0.35%/yr for JEPQ.

Performance

PBE vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Biotechnology & Genome ETF (PBE) 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, PBE achieves a 3.32% return, which is significantly lower than JEPQ's 10.23% 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%

JEPQ

• 1D: 2.21%
• 1M: 3.31%
• YTD: 10.23%
• 6M: 11.56%
• 1Y: 29.39%
• 3Y*: 20.72%
• 5Y*: —
• 10Y*: —

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

PBE vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PBE Invesco Dynamic Biotechnology & Genome ETF	3.32%	24.84%	1.10%	3.71%	10.49%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.23%	15.18%	24.85%	36.28%	-11.16%

Correlation

The correlation between PBE and JEPQ is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.49

The correlation between PBE and JEPQ shifts across timeframes, from 0.36 (1 year) to 0.49 (all time), reflecting how their relationship changes across market environments.

PBE vs. JEPQ - Sectors Allocation Comparison

Sectors	PBE	JEPQ
Healthcare	99.9%	3.9%
Financial Services	0.2%	0.3%
Basic Materials	-	0.9%
Communication Services	-	13.9%
Consumer Cyclical	-	11.8%
Consumer Defensive	-	6.0%
Energy	-	0.3%
Industrials	-	2.8%
Real Estate	-	0.2%
Technology	-	58.9%
Utilities	-	1.1%

Return for Risk

PBE vs. JEPQ — 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

JEPQ

JEPQ Risk / Return Rank: 81
JEPQ Sharpe Ratio Rank: 81
JEPQ Sortino Ratio Rank: 77
JEPQ Omega Ratio Rank: 85
JEPQ Calmar Ratio Rank: 73
JEPQ Martin Ratio Rank: 86

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. JEPQ - Risk-Adjusted Trends Comparison

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

	PBE	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	1.81	2.31	-0.51
Sortino ratio: Return per unit of downside risk	2.68	3.06	-0.37
Omega ratio: Gain probability vs. loss probability	1.31	1.46	-0.15
Calmar ratio: Return relative to maximum drawdown	2.92	3.35	-0.43
Martin ratio: Return relative to average drawdown	8.21	15.94	-7.73

PBE vs. JEPQ - Sharpe Ratio Comparison

The current PBE Sharpe Ratio is 1.81, which is comparable to the JEPQ Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of PBE 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

PBE vs. JEPQ - Drawdown Comparison

The maximum PBE drawdown since its inception was -45.69%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for PBE and JEPQ.

Drawdown Indicators

	PBE	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-45.69%	-20.07%	-25.62%
Max Drawdown (1Y) Largest decline over 1 year	-11.73%	-8.82%	-2.91%
Max Drawdown (3Y) Largest decline over 3 years	-22.43%	-20.07%	-2.36%
Max Drawdown (5Y) Largest decline over 5 years	-34.71%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.84%	—	—
Current Drawdown Current decline from peak	-1.00%	0.00%	-1.00%
Average Drawdown Average peak-to-trough decline	-16.21%	-3.41%	-12.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.17%	1.85%	+2.32%

Volatility

PBE vs. JEPQ - Volatility Comparison

Invesco Dynamic Biotechnology & Genome ETF (PBE) has a higher volatility of 6.04% compared to JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) at 5.42%. This indicates that PBE's price experiences larger fluctuations and is considered to be riskier than JEPQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PBE	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.04%	5.42%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	13.67%	10.44%	+3.23%
Volatility (1Y) Calculated over the trailing 1-year period	19.01%	12.78%	+6.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.48%	16.76%	+5.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.91%	16.76%	+8.15%

PBE vs. JEPQ - Expense Ratio Comparison

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

Dividends

PBE vs. JEPQ - Dividend Comparison

PBE's dividend yield for the trailing twelve months is around 1.02%, less than JEPQ's 10.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.00%	10.53%	9.65%	10.03%	9.44%	0.00%	0.00%	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 JEPQ in my portfolio?

PBE and JEPQ have a correlation of 0.36, 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 JEPQ?

PBE has higher volatility (6.04%) compared to JEPQ (5.42%). In terms of maximum drawdown, PBE dropped -45.69% vs JEPQ's -20.07%.

Which ETF is better, PBE or JEPQ?

On 3-year performance, JEPQ leads with 20.72% vs 10.91% for PBE. On fees, JEPQ is cheaper at 0.35% per year. On volatility, JEPQ has been the lower-risk option at 5.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PBE or JEPQ?

Over the 3-year period, JEPQ has performed better with a 20.72% return vs 10.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PBE or JEPQ?

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

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

JEPQ has the higher dividend yield at 10.00%, compared with 1.02% for PBE.

What is the main difference between PBE and JEPQ?

PBE is categorized as Health & Biotech Equities, while JEPQ is Nasdaq-100. PBE tracks Dynamic Biotech & Genome Intellidex Index (AMEX), while JEPQ tracks Nasdaq-100 Index. They also come from different issuers: Invesco and JPMorgan. Their fees differ too: 0.59% for PBE and 0.35% for JEPQ.

Which has better risk-adjusted returns?

JEPQ currently has the higher Sharpe Ratio (2.31 vs 1.81), 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.