PCIMX vs. JEPI
PCIMX (PIMCO California Intermediate Municipal Bond Fund) and JEPI (JPMorgan Equity Premium Income ETF) are both funds - PCIMX is a Municipal Bonds fund managed by PIMCO, while JEPI is a Dividend fund actively managed by JPMorgan. Over the past 5 years, PCIMX returned 1.04%/yr vs 7.40%/yr for JEPI. Their 0.13 correlation means their historical movements had little consistent relationship. PCIMX charges 0.46%/yr vs 0.35%/yr for JEPI.
Performance
PCIMX vs. JEPI - Performance Comparison
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Returns By Period
In the year-to-date period, PCIMX achieves a -0.10% return, which is significantly lower than JEPI's 4.52% return.
PCIMX
- 1D
- -0.22%
- 1M
- -1.70%
- 6M
- -0.89%
- YTD
- -0.10%
- 1Y
- 3.77%
- 3Y*
- 3.83%
- 5Y*
- 1.04%
- 10Y*
- 1.85%
- ALL TIME*
- 3.12%
JEPI
- 1D
- 0.33%
- 1M
- 1.27%
- 6M
- 2.16%
- YTD
- 4.52%
- 1Y
- 11.16%
- 3Y*
- 9.21%
- 5Y*
- 7.40%
- 10Y*
- —
- ALL TIME*
- 11.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $260.98M | $260.42M | $297.70M | |
| $0.00 | $0.00 | $0.00 |
PCIMX vs. JEPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PCIMX PIMCO California Intermediate Municipal Bond Fund | -0.10% | 5.70% | 2.58% | 5.54% | -7.30% | 0.47% | 4.30% |
JEPI JPMorgan Equity Premium Income ETF | 4.52% | 8.09% | 12.57% | 9.83% | -3.49% | 21.52% | 18.39% |
Correlation
The correlation between PCIMX and JEPI is 0.27, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.27 |
Correlation (3Y) Balances recent behavior with more history. | 0.19 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.14 |
Correlation (All Time) Calculated using the full available price history since May 21, 2020 | 0.13 |
The correlation between PCIMX and JEPI shifts across timeframes, from 0.13 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PCIMX vs. JEPI — Risk / Return Rank
PCIMX
JEPI
PCIMX vs. JEPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO California Intermediate Municipal Bond Fund (PCIMX) 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.
| PCIMX | JEPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.23 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | 1.52 | +0.27 |
| Martin ratioReturn relative to average drawdown | 5.02 | 4.32 | +0.70 |
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Drawdowns
PCIMX vs. JEPI - Drawdown Comparison
The maximum PCIMX drawdown since its inception was -12.96%, smaller than the maximum JEPI drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for PCIMX and JEPI.
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Drawdown Indicators
| PCIMX | JEPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.96% | -13.71% | +0.75% |
Max Drawdown (1Y)Largest decline over 1 year | -2.62% | -6.68% | +4.06% |
Max Drawdown (3Y)Largest decline over 3 years | -3.85% | -13.26% | +9.41% |
Max Drawdown (5Y)Largest decline over 5 years | -11.41% | -13.71% | +2.30% |
Max Drawdown (10Y)Largest decline over 10 years | -11.41% | — | — |
Current DrawdownCurrent decline from peak | -2.08% | -0.68% | -1.40% |
Average DrawdownAverage peak-to-trough decline | -1.52% | -2.13% | +0.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 2.36% | -1.43% |
Volatility
PCIMX vs. JEPI - Volatility Comparison
The current volatility for PIMCO California Intermediate Municipal Bond Fund (PCIMX) is 0.85%, while JPMorgan Equity Premium Income ETF (JEPI) has a volatility of 2.38%. This indicates that PCIMX 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.
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Volatility by Period
| PCIMX | JEPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.85% | 2.38% | -1.53% |
Volatility (6M)Calculated over the trailing 6-month period | 1.89% | 6.37% | -4.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.41% | 8.15% | -5.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.28% | 11.10% | -7.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.28% | 10.73% | -7.45% |
PCIMX vs. JEPI - Expense Ratio Comparison
PCIMX has a 0.46% expense ratio, which is higher than JEPI's 0.35% expense ratio.
Dividends
PCIMX vs. JEPI - Dividend Comparison
PCIMX's dividend yield for the trailing twelve months is around 3.09%, less than JEPI's 7.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JEPI JPMorgan Equity Premium Income ETF | 7.34% | 8.25% | 7.33% | 8.40% | 11.68% | 6.59% | 5.79% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PCIMX PIMCO California Intermediate Municipal Bond Fund | 3.09% | 4.51% | 3.95% | 2.65% | 1.67% | 1.66% | 2.10% | 2.53% | 2.58% | 2.53% | 2.50% | 2.51% |
Frequently Asked Questions
PCIMX and JEPI 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.
JEPI has higher volatility (2.38%) compared to PCIMX (0.85%). In terms of maximum drawdown, PCIMX dropped -12.96% vs JEPI's -13.71%.
PCIMX currently has the higher Sharpe Ratio (1.95 vs 1.25), 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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