PBTP vs. JEPI

Last updated Jun 23, 2026

PBTP (Invesco PureBeta 0-5 Yr US TIPS ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - PBTP is a Inflation-Protected Bonds fund tracking the ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y), while JEPI is a Dividend fund actively managed by JPMorgan. PBTP is passively managed, while JEPI is actively managed. Over the past 5 years, PBTP returned 3.22%/yr vs 7.51%/yr for JEPI. At a 0.17 correlation, their price movements are largely independent. PBTP charges 0.07%/yr vs 0.35%/yr for JEPI.

Performance

PBTP vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) 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, PBTP achieves a 1.42% return, which is significantly higher than JEPI's 1.34% return.

PBTP

• 1D: -0.18%
• 1M: -0.30%
• YTD: 1.42%
• 6M: 1.44%
• 1Y: 3.62%
• 3Y*: 4.97%
• 5Y*: 3.22%
• 10Y*: —

JEPI

• 1D: -0.05%
• 1M: 0.23%
• YTD: 1.34%
• 6M: 1.18%
• 1Y: 8.97%
• 3Y*: 9.13%
• 5Y*: 7.51%
• 10Y*: —

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

PBTP vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF	1.42%	5.98%	4.72%	4.53%	-3.02%	5.51%	3.91%
JEPI JPMorgan Equity Premium Income ETF	1.34%	8.09%	12.57%	9.83%	-3.49%	21.52%	18.39%

Correlation

The correlation between PBTP and JEPI is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (All Time) Calculated using the full available price history since May 21, 2020	0.17

Return for Risk

PBTP vs. JEPI — Risk / Return Rank

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

PBTP

PBTP Risk / Return Rank: 82
PBTP Sharpe Ratio Rank: 73
PBTP Sortino Ratio Rank: 82
PBTP Omega Ratio Rank: 82
PBTP Calmar Ratio Rank: 88
PBTP Martin Ratio Rank: 86

JEPI

JEPI Risk / Return Rank: 30
JEPI Sharpe Ratio Rank: 32
JEPI Sortino Ratio Rank: 32
JEPI Omega Ratio Rank: 31
JEPI Calmar Ratio Rank: 28
JEPI Martin Ratio Rank: 30

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.

PBTP vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) 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.

	PBTP	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	2.25	1.12	+1.13
Sortino ratio: Return per unit of downside risk	3.46	1.66	+1.79
Omega ratio: Gain probability vs. loss probability	1.47	1.21	+0.26
Calmar ratio: Return relative to maximum drawdown	4.98	1.35	+3.64
Martin ratio: Return relative to average drawdown	17.63	4.00	+13.62

PBTP vs. JEPI - Sharpe Ratio Comparison

The current PBTP Sharpe Ratio is 2.25, which is higher than the JEPI Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of PBTP 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

PBTP vs. JEPI - Drawdown Comparison

The maximum PBTP drawdown since its inception was -5.44%, smaller than the maximum JEPI drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for PBTP and JEPI.

Drawdown Indicators

	PBTP	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-5.44%	-13.71%	+8.27%
Max Drawdown (1Y) Largest decline over 1 year	-0.73%	-6.68%	+5.95%
Max Drawdown (3Y) Largest decline over 3 years	-1.03%	-13.26%	+12.23%
Max Drawdown (5Y) Largest decline over 5 years	-5.44%	-13.71%	+8.27%
Current Drawdown Current decline from peak	-0.73%	-3.69%	+2.96%
Average Drawdown Average peak-to-trough decline	-0.75%	-2.13%	+1.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.21%	2.24%	-2.03%

Volatility

PBTP vs. JEPI - Volatility Comparison

The current volatility for Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) is 0.63%, while JPMorgan Equity Premium Income ETF (JEPI) has a volatility of 2.35%. This indicates that PBTP experiences smaller price fluctuations and is considered to be less risky than JEPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PBTP	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.63%	2.35%	-1.72%
Volatility (6M) Calculated over the trailing 6-month period	1.17%	6.28%	-5.11%
Volatility (1Y) Calculated over the trailing 1-year period	1.62%	8.04%	-6.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.85%	11.08%	-8.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.64%	10.79%	-8.15%

PBTP vs. JEPI - Expense Ratio Comparison

PBTP has a 0.07% expense ratio, which is lower than JEPI's 0.35% expense ratio.

Dividends

PBTP vs. JEPI - Dividend Comparison

PBTP's dividend yield for the trailing twelve months is around 5.86%, less than JEPI's 8.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JEPI JPMorgan Equity Premium Income ETF	8.17%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%	0.00%	0.00%	0.00%
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF	5.86%	3.82%	2.59%	2.36%	5.33%	3.12%	1.25%	2.12%	2.33%	0.73%

Frequently Asked Questions

Can I hold both PBTP and JEPI in my portfolio?

PBTP and JEPI have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PBTP or JEPI?

JEPI has higher volatility (2.35%) compared to PBTP (0.63%). In terms of maximum drawdown, PBTP dropped -5.44% vs JEPI's -13.71%.

Which ETF is better, PBTP or JEPI?

On 5-year performance, JEPI leads with 7.51% vs 3.22% for PBTP. On fees, PBTP is cheaper at 0.07% per year. On volatility, PBTP has been the lower-risk option at 0.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PBTP or JEPI?

Over the 5-year period, JEPI has performed better with a 7.51% return vs 3.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PBTP or JEPI?

PBTP is cheaper with a 0.07% expense ratio, compared with 0.35% for JEPI.

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

JEPI has the higher dividend yield at 8.17%, compared with 5.86% for PBTP.

What is the main difference between PBTP and JEPI?

PBTP is categorized as Inflation-Protected Bonds, while JEPI is Dividend. They also come from different issuers: Invesco and JPMorgan. Their fees differ too: 0.07% for PBTP and 0.35% for JEPI.

Which has better risk-adjusted returns?

PBTP currently has the higher Sharpe Ratio (2.25 vs 1.12), 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.