RPIDX vs. JEPQ

Last updated Jun 13, 2026

RPIDX (T. Rowe Price Dynamic Credit Fund) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both funds - RPIDX is a Nontraditional Bonds fund managed by T. Rowe Price, while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Over the past 3 years, RPIDX returned 7.95%/yr vs 19.91%/yr for JEPQ. At a correlation of -0.01, they often move in opposite directions. RPIDX charges 0.63%/yr vs 0.35%/yr for JEPQ.

Performance

RPIDX vs. JEPQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Dynamic Credit Fund (RPIDX) 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, RPIDX achieves a 0.28% return, which is significantly lower than JEPQ's 7.85% return.

RPIDX

• 1D: -0.12%
• 1M: -0.28%
• YTD: 0.28%
• 6M: 1.67%
• 1Y: 7.02%
• 3Y*: 7.95%
• 5Y*: 4.46%
• 10Y*: —

JEPQ

• 1D: 0.62%
• 1M: 0.88%
• YTD: 7.85%
• 6M: 8.80%
• 1Y: 25.53%
• 3Y*: 19.91%
• 5Y*: —
• 10Y*: —

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

RPIDX vs. JEPQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
RPIDX T. Rowe Price Dynamic Credit Fund	0.28%	9.74%	9.92%	4.72%	0.44%
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	7.85%	15.18%	24.85%	36.28%	-11.16%

Correlation

The correlation between RPIDX and JEPQ is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (All Time) Calculated using the full available price history since May 4, 2022	-0.01

The correlation between RPIDX and JEPQ shifts across timeframes, from -0.14 (1 year) to 0.06 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

RPIDX vs. JEPQ — Risk / Return Rank

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

RPIDX

RPIDX Risk / Return Rank: 86
RPIDX Sharpe Ratio Rank: 75
RPIDX Sortino Ratio Rank: 90
RPIDX Omega Ratio Rank: 84
RPIDX Calmar Ratio Rank: 95
RPIDX Martin Ratio Rank: 86

JEPQ

JEPQ Risk / Return Rank: 74
JEPQ Sharpe Ratio Rank: 73
JEPQ Sortino Ratio Rank: 69
JEPQ Omega Ratio Rank: 79
JEPQ Calmar Ratio Rank: 66
JEPQ Martin Ratio Rank: 81

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.

RPIDX vs. JEPQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Dynamic Credit Fund (RPIDX) 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.

	RPIDX	JEPQ	Difference
Sharpe ratio: Return per unit of total volatility	2.08	2.03	+0.04
Sortino ratio: Return per unit of downside risk	4.01	2.69	+1.31
Omega ratio: Gain probability vs. loss probability	1.49	1.40	+0.09
Calmar ratio: Return relative to maximum drawdown	5.16	2.91	+2.25
Martin ratio: Return relative to average drawdown	13.35	13.84	-0.49

RPIDX vs. JEPQ - Sharpe Ratio Comparison

The current RPIDX Sharpe Ratio is 2.08, which is comparable to the JEPQ Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of RPIDX 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

RPIDX vs. JEPQ - Drawdown Comparison

The maximum RPIDX drawdown since its inception was -19.95%, roughly equal to the maximum JEPQ drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for RPIDX and JEPQ.

Drawdown Indicators

	RPIDX	JEPQ	Difference
Max Drawdown Largest peak-to-trough decline	-19.95%	-20.07%	+0.12%
Max Drawdown (1Y) Largest decline over 1 year	-1.34%	-8.82%	+7.48%
Max Drawdown (3Y) Largest decline over 3 years	-3.17%	-20.07%	+16.90%
Max Drawdown (5Y) Largest decline over 5 years	-7.31%	—	—
Current Drawdown Current decline from peak	-0.74%	-1.64%	+0.90%
Average Drawdown Average peak-to-trough decline	-1.87%	-3.41%	+1.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	1.85%	-1.33%

Volatility

RPIDX vs. JEPQ - Volatility Comparison

The current volatility for T. Rowe Price Dynamic Credit Fund (RPIDX) is 0.70%, while JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) has a volatility of 4.98%. This indicates that RPIDX 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

	RPIDX	JEPQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.70%	4.98%	-4.28%
Volatility (6M) Calculated over the trailing 6-month period	2.57%	10.22%	-7.65%
Volatility (1Y) Calculated over the trailing 1-year period	3.34%	12.61%	-9.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.83%	16.73%	-12.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.79%	16.73%	-11.94%

RPIDX vs. JEPQ - Expense Ratio Comparison

RPIDX has a 0.63% expense ratio, which is higher than JEPQ's 0.35% expense ratio.

Dividends

RPIDX vs. JEPQ - Dividend Comparison

RPIDX's dividend yield for the trailing twelve months is around 9.92%, less than JEPQ's 10.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
JEPQ JPMorgan Nasdaq Equity Premium Income ETF	10.22%	10.53%	9.65%	10.03%	9.44%	0.00%	0.00%	0.00%
RPIDX T. Rowe Price Dynamic Credit Fund	9.92%	9.91%	9.20%	6.64%	7.97%	5.34%	7.14%	4.41%

Frequently Asked Questions

Can I hold both RPIDX and JEPQ in my portfolio?

RPIDX and JEPQ have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RPIDX or JEPQ?

JEPQ has higher volatility (4.98%) compared to RPIDX (0.70%). In terms of maximum drawdown, RPIDX dropped -19.95% vs JEPQ's -20.07%.

Which has better risk-adjusted returns?

RPIDX currently has the higher Sharpe Ratio (2.08 vs 2.03), 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.