PQDI vs. JEPI

Last updated Jun 24, 2026

PQDI (Principal Spectrum Preferred and Income ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both exchange-traded funds - PQDI is a Preferred Stock/Convertible Bonds fund tracking the ICE BofA 7% Constrained DRD Eligible Preferred Securities Index, while JEPI is a Dividend fund actively managed by JPMorgan. PQDI is passively managed, while JEPI is actively managed. Over the past 5 years, PQDI returned 3.17%/yr vs 7.31%/yr for JEPI. At a 0.44 correlation, their price movements are largely independent. PQDI charges 0.60%/yr vs 0.35%/yr for JEPI.

Performance

PQDI vs. JEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal Spectrum Preferred and Income ETF (PQDI) 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, PQDI achieves a 1.39% return, which is significantly higher than JEPI's 0.91% return.

PQDI

• 1D: -0.11%
• 1M: 0.48%
• YTD: 1.39%
• 6M: 1.47%
• 1Y: 6.43%
• 3Y*: 9.15%
• 5Y*: 3.17%
• 10Y*: —

JEPI

• 1D: -0.43%
• 1M: -0.19%
• YTD: 0.91%
• 6M: 0.64%
• 1Y: 7.76%
• 3Y*: 8.98%
• 5Y*: 7.31%
• 10Y*: —

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

PQDI vs. JEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PQDI Principal Spectrum Preferred and Income ETF	1.39%	8.46%	9.99%	6.24%	-9.61%	3.10%	9.95%
JEPI JPMorgan Equity Premium Income ETF	0.91%	8.09%	12.57%	9.83%	-3.49%	21.52%	16.94%

Correlation

The correlation between PQDI and JEPI is 0.52, 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	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (All Time) Calculated using the full available price history since Jun 17, 2020	0.44

The correlation between PQDI and JEPI has been stable across timeframes, ranging from 0.44 to 0.52 - a consistent structural relationship.

PQDI vs. JEPI - Sectors Allocation Comparison

Sectors	PQDI	JEPI
Financial Services	11.3%	7.2%
Communication Services	0.7%	6.3%
Basic Materials	-	1.7%
Consumer Cyclical	-	10.0%
Consumer Defensive	-	7.8%
Energy	-	2.5%
Healthcare	-	11.6%
Industrials	-	9.7%
Real Estate	-	2.7%
Technology	-	15.3%
Utilities	-	4.7%

Return for Risk

PQDI vs. JEPI — Risk / Return Rank

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

PQDI

PQDI Risk / Return Rank: 61
PQDI Sharpe Ratio Rank: 65
PQDI Sortino Ratio Rank: 68
PQDI Omega Ratio Rank: 76
PQDI Calmar Ratio Rank: 41
PQDI Martin Ratio Rank: 53

JEPI

JEPI Risk / Return Rank: 27
JEPI Sharpe Ratio Rank: 28
JEPI Sortino Ratio Rank: 27
JEPI Omega Ratio Rank: 26
JEPI Calmar Ratio Rank: 25
JEPI Martin Ratio Rank: 26

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.

PQDI vs. JEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal Spectrum Preferred and Income ETF (PQDI) 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.

	PQDI	JEPI	Difference
Sharpe ratio: Return per unit of total volatility	1.97	0.97	+1.00
Sortino ratio: Return per unit of downside risk	2.89	1.45	+1.43
Omega ratio: Gain probability vs. loss probability	1.42	1.18	+0.24
Calmar ratio: Return relative to maximum drawdown	1.95	1.17	+0.78
Martin ratio: Return relative to average drawdown	8.62	3.44	+5.17

PQDI vs. JEPI - Sharpe Ratio Comparison

The current PQDI Sharpe Ratio is 1.97, which is higher than the JEPI Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of PQDI 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

PQDI vs. JEPI - Drawdown Comparison

The maximum PQDI drawdown since its inception was -17.41%, which is greater than JEPI's maximum drawdown of -13.71%. Use the drawdown chart below to compare losses from any high point for PQDI and JEPI.

Drawdown Indicators

	PQDI	JEPI	Difference
Max Drawdown Largest peak-to-trough decline	-17.41%	-13.71%	-3.70%
Max Drawdown (1Y) Largest decline over 1 year	-3.31%	-6.68%	+3.37%
Max Drawdown (3Y) Largest decline over 3 years	-3.31%	-13.26%	+9.95%
Max Drawdown (5Y) Largest decline over 5 years	-17.41%	-13.71%	-3.70%
Current Drawdown Current decline from peak	-0.43%	-4.11%	+3.68%
Average Drawdown Average peak-to-trough decline	-3.48%	-2.13%	-1.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.75%	2.26%	-1.51%

Volatility

PQDI vs. JEPI - Volatility Comparison

The current volatility for Principal Spectrum Preferred and Income ETF (PQDI) is 0.89%, while JPMorgan Equity Premium Income ETF (JEPI) has a volatility of 2.38%. This indicates that PQDI 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

	PQDI	JEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.89%	2.38%	-1.49%
Volatility (6M) Calculated over the trailing 6-month period	2.90%	6.29%	-3.39%
Volatility (1Y) Calculated over the trailing 1-year period	3.27%	8.03%	-4.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.70%	11.08%	-6.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.54%	10.78%	-6.24%

PQDI vs. JEPI - Expense Ratio Comparison

PQDI has a 0.60% expense ratio, which is higher than JEPI's 0.35% expense ratio.

Dividends

PQDI vs. JEPI - Dividend Comparison

PQDI's dividend yield for the trailing twelve months is around 5.45%, less than JEPI's 8.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
JEPI JPMorgan Equity Premium Income ETF	8.21%	8.25%	7.33%	8.40%	11.68%	6.59%	5.79%
PQDI Principal Spectrum Preferred and Income ETF	5.45%	5.02%	4.93%	5.35%	5.60%	5.21%	2.69%

Frequently Asked Questions

Can I hold both PQDI and JEPI in my portfolio?

PQDI and JEPI have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PQDI or JEPI?

JEPI has higher volatility (2.38%) compared to PQDI (0.89%). In terms of maximum drawdown, PQDI dropped -17.41% vs JEPI's -13.71%.

Which ETF is better, PQDI or JEPI?

On 5-year performance, JEPI leads with 7.31% vs 3.17% for PQDI. On fees, JEPI is cheaper at 0.35% per year. On volatility, PQDI has been the lower-risk option at 0.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PQDI or JEPI?

Over the 5-year period, JEPI has performed better with a 7.31% return vs 3.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PQDI or JEPI?

JEPI is cheaper with a 0.35% expense ratio, compared with 0.60% for PQDI.

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

JEPI has the higher dividend yield at 8.21%, compared with 5.45% for PQDI.

What is the main difference between PQDI and JEPI?

PQDI is categorized as Preferred Stock/Convertible Bonds, while JEPI is Dividend. They also come from different issuers: Principal and JPMorgan. Their fees differ too: 0.60% for PQDI and 0.35% for JEPI.

Which has better risk-adjusted returns?

PQDI currently has the higher Sharpe Ratio (1.97 vs 0.97), 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.