PYLD vs. JEPQ

Last updated Jun 20, 2026

PYLD (PIMCO Multisector Bond Active Exchange-Traded Fund) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - PYLD is a Multisector Bonds fund actively managed by PIMCO, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. PYLD is actively managed, while JEPQ is passively managed. Over the past year, PYLD returned 7.32% vs 29.09% for JEPQ. At a 0.26 correlation, their price movements are largely independent. PYLD charges 0.55%/yr vs 0.35%/yr for JEPQ.

Performance

PYLD vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) 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, PYLD achieves a 1.48% return, which is significantly lower than JEPQ's 10.52% return.

PYLD

• 1D: 0.23%
• 1M: 1.37%
• YTD: 1.48%
• 6M: 1.77%
• 1Y: 7.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEPQ

• 1D: 1.61%
• 1M: 3.22%
• YTD: 10.52%
• 6M: 10.65%
• 1Y: 29.09%
• 3Y*: 20.83%
• 5Y*: —
• 10Y*: —

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

PYLD vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PYLD PIMCO Multisector Bond Active Exchange-Traded Fund	1.48%	9.57%	7.69%	5.46%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.52%	15.18%	24.85%	11.05%

Correlation

The correlation between PYLD and JEPQ is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023	0.26

The correlation between PYLD and JEPQ shifts across timeframes, from 0.26 (all time) to 0.42 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PYLD vs. JEPQ — Risk / Return Rank

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

PYLD

PYLD Risk / Return Rank: 71
PYLD Sharpe Ratio Rank: 80
PYLD Sortino Ratio Rank: 84
PYLD Omega Ratio Rank: 84
PYLD Calmar Ratio Rank: 48
PYLD Martin Ratio Rank: 60

JEPQ

JEPQ Risk / Return Rank: 76
JEPQ Sharpe Ratio Rank: 76
JEPQ Sortino Ratio Rank: 72
JEPQ Omega Ratio Rank: 81
JEPQ Calmar Ratio Rank: 69
JEPQ Martin Ratio Rank: 82

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.

PYLD vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) 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.

	PYLD	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	2.40	2.28	+0.12
Sortino ratio: Return per unit of downside risk	3.52	3.02	+0.49
Omega ratio: Gain probability vs. loss probability	1.48	1.45	+0.03
Calmar ratio: Return relative to maximum drawdown	2.26	3.31	-1.05
Martin ratio: Return relative to average drawdown	10.26	15.77	-5.50

PYLD vs. JEPQ - Sharpe Ratio Comparison

The current PYLD Sharpe Ratio is 2.40, which is comparable to the JEPQ Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of PYLD 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

PYLD vs. JEPQ - Drawdown Comparison

The maximum PYLD drawdown since its inception was -4.52%, smaller than the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for PYLD and JEPQ.

Drawdown Indicators

	PYLD	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-4.52%	-20.07%	+15.55%
Max Drawdown (1Y) Largest decline over 1 year	-3.25%	-8.82%	+5.57%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.07%	—
Current Drawdown Current decline from peak	-0.23%	0.00%	-0.23%
Average Drawdown Average peak-to-trough decline	-0.65%	-3.40%	+2.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.71%	1.85%	-1.14%

Volatility

PYLD vs. JEPQ - Volatility Comparison

The current volatility for PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) is 1.13%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 5.70%. This indicates that PYLD experiences smaller price fluctuations and is considered to be less risky than JEPQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PYLD	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.13%	5.70%	-4.57%
Volatility (6M) Calculated over the trailing 6-month period	2.60%	10.49%	-7.89%
Volatility (1Y) Calculated over the trailing 1-year period	3.06%	12.83%	-9.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.99%	16.76%	-12.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.99%	16.76%	-12.77%

PYLD vs. JEPQ - Expense Ratio Comparison

PYLD has a 0.55% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

PYLD vs. JEPQ - Dividend Comparison

PYLD's dividend yield for the trailing twelve months is around 6.26%, less than JEPQ's 9.98% yield.

Position	TTM	2025	2024	2023	2022
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	9.98%	10.53%	9.65%	10.03%	9.44%
PYLD PIMCO Multisector Bond Active Exchange-Traded Fund	6.26%	6.21%	6.40%	2.72%	0.00%

Frequently Asked Questions

Can I hold both PYLD and JEPQ in my portfolio?

PYLD and JEPQ have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PYLD or JEPQ?

JEPQ has higher volatility (5.70%) compared to PYLD (1.13%). In terms of maximum drawdown, PYLD dropped -4.52% vs JEPQ's -20.07%.

Which ETF is better, PYLD or JEPQ?

On 1-year performance, JEPQ leads with 29.09% vs 7.32% for PYLD. On fees, JEPQ is cheaper at 0.35% per year. On volatility, PYLD has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PYLD or JEPQ?

Over the 1-year period, JEPQ has performed better with a 29.09% return vs 7.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PYLD or JEPQ?

JEPQ is cheaper with a 0.35% expense ratio, compared with 0.55% for PYLD.

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

JEPQ has the higher dividend yield at 9.98%, compared with 6.26% for PYLD.

What is the main difference between PYLD and JEPQ?

PYLD is categorized as Multisector Bonds, while JEPQ is Nasdaq-100. They also come from different issuers: PIMCO and JPMorgan. Their fees differ too: 0.55% for PYLD and 0.35% for JEPQ.

Which has better risk-adjusted returns?

PYLD currently has the higher Sharpe Ratio (2.40 vs 2.28), 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.