JHQDX vs. JHQAX
JHQDX (JPMorgan Hedged Equity 2 Fund Class I) and JHQAX (JPMorgan Hedged Equity Fund) are both Options Trading funds from JPMorgan. Over the past 5 years, JHQDX returned 7.85%/yr vs 6.66%/yr for JHQAX. Their correlation of 0.92 suggests significant overlap in exposure. JHQDX charges 0.60%/yr vs 0.83%/yr for JHQAX.
Performance
JHQDX vs. JHQAX - Performance Comparison
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Returns By Period
In the year-to-date period, JHQDX achieves a 5.79% return, which is significantly higher than JHQAX's -1.98% return.
JHQDX
- 1D
- -0.24%
- 1M
- 1.25%
- YTD
- 5.79%
- 6M
- 5.90%
- 1Y
- 13.61%
- 3Y*
- 11.51%
- 5Y*
- 7.85%
- 10Y*
- —
JHQAX
- 1D
- -0.03%
- 1M
- -0.03%
- YTD
- -1.98%
- 6M
- -1.49%
- 1Y
- 6.45%
- 3Y*
- 8.93%
- 5Y*
- 6.66%
- 10Y*
- 8.62%
JHQDX vs. JHQAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JHQDX JPMorgan Hedged Equity 2 Fund Class I | 5.79% | 7.56% | 18.03% | 15.26% | -13.30% | 14.40% |
JHQAX JPMorgan Hedged Equity Fund | -1.98% | 7.22% | 17.93% | 15.78% | -8.27% | 11.77% |
Correlation
The correlation between JHQDX and JHQAX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2021 | 0.92 |
The correlation between JHQDX and JHQAX has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.
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Return for Risk
JHQDX vs. JHQAX — Risk / Return Rank
JHQDX
JHQAX
JHQDX vs. JHQAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Hedged Equity 2 Fund Class I (JHQDX) and JPMorgan Hedged Equity Fund (JHQAX). 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.
| JHQDX | JHQAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.97 | ||
| Sortino ratioReturn per unit of downside risk | +1.40 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.21 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | 0.96 | +1.59 |
| Martin ratioReturn relative to average drawdown | 11.42 | 3.30 | +8.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JHQDX | JHQAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.02 | 1.05 | +0.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.90 | 0.75 | +0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.92 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.99 | 0.84 | +0.15 |
Drawdowns
JHQDX vs. JHQAX - Drawdown Comparison
The maximum JHQDX drawdown since its inception was -15.25%, smaller than the maximum JHQAX drawdown of -18.82%. Use the drawdown chart below to compare losses from any high point for JHQDX and JHQAX.
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Drawdown Indicators
| JHQDX | JHQAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.25% | -18.82% | +3.57% |
Max Drawdown (1Y)Largest decline over 1 year | -5.41% | -6.91% | +1.50% |
Max Drawdown (3Y)Largest decline over 3 years | -9.27% | -13.11% | +3.84% |
Max Drawdown (5Y)Largest decline over 5 years | -15.25% | -14.48% | -0.77% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.82% | — |
Current DrawdownCurrent decline from peak | -0.33% | -3.24% | +2.91% |
Average DrawdownAverage peak-to-trough decline | -3.23% | -2.22% | -1.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 2.00% | -0.79% |
Volatility
JHQDX vs. JHQAX - Volatility Comparison
JPMorgan Hedged Equity 2 Fund Class I (JHQDX) has a higher volatility of 1.09% compared to JPMorgan Hedged Equity Fund (JHQAX) at 0.49%. This indicates that JHQDX's price experiences larger fluctuations and is considered to be riskier than JHQAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JHQDX | JHQAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 0.49% | +0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 5.52% | 4.77% | +0.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.82% | 6.31% | +0.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.78% | 8.86% | -0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.65% | 9.38% | -0.73% |
JHQDX vs. JHQAX - Expense Ratio Comparison
JHQDX has a 0.60% expense ratio, which is lower than JHQAX's 0.83% expense ratio.
Dividends
JHQDX vs. JHQAX - Dividend Comparison
JHQDX's dividend yield for the trailing twelve months is around 0.47%, more than JHQAX's 0.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JHQAX JPMorgan Hedged Equity Fund | 0.37% | 0.41% | 0.51% | 0.74% | 0.74% | 0.50% | 0.89% | 1.18% | 0.92% | 0.76% | 1.11% | 0.97% |
JHQDX JPMorgan Hedged Equity 2 Fund Class I | 0.47% | 0.50% | 0.75% | 0.96% | 6.91% | 0.40% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.90, JHQDX and JHQAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
JHQDX has higher volatility (1.09%) compared to JHQAX (0.49%). In terms of maximum drawdown, JHQDX dropped -15.25% vs JHQAX's -18.82%.
JHQDX currently has the higher Sharpe Ratio (2.02 vs 1.05), 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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