AXSIX vs. JMM
AXSIX (Axonic Strategic Income Fund) and JMM (Nuveen Multi-Market Income Fund) are both Multisector Bonds funds. Over the past 5 years, AXSIX returned 3.73%/yr vs 0.55%/yr for JMM. At a 0.20 correlation, their price movements are largely independent. AXSIX charges 1.00%/yr vs 0.04%/yr for JMM.
Performance
AXSIX vs. JMM - Performance Comparison
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Returns By Period
In the year-to-date period, AXSIX achieves a 2.31% return, which is significantly higher than JMM's 0.06% return.
AXSIX
- 1D
- 0.00%
- 1M
- 0.47%
- 6M
- 1.94%
- YTD
- 2.31%
- 1Y
- 5.47%
- 3Y*
- 7.16%
- 5Y*
- 3.73%
- 10Y*
- —
JMM
- 1D
- 0.52%
- 1M
- 0.93%
- 6M
- -1.87%
- YTD
- 0.06%
- 1Y
- -2.51%
- 3Y*
- 6.06%
- 5Y*
- 0.55%
- 10Y*
- 2.95%
AXSIX vs. JMM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
AXSIX Axonic Strategic Income Fund | 2.31% | 6.71% | 8.30% | 7.54% | -6.81% | 5.91% | -0.16% |
JMM Nuveen Multi-Market Income Fund | 0.06% | 5.61% | 8.15% | 6.57% | -17.95% | 10.53% | 1.77% |
Correlation
The correlation between AXSIX and JMM is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2020 | 0.20 |
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Return for Risk
AXSIX vs. JMM — Risk / Return Rank
AXSIX
JMM
AXSIX vs. JMM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Axonic Strategic Income Fund (AXSIX) and Nuveen Multi-Market Income Fund (JMM). 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.
| AXSIX | JMM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.54 | ||
| Sortino ratioReturn per unit of downside risk | +5.01 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 0.97 | +0.65 |
| Calmar ratioReturn relative to maximum drawdown | 4.49 | -0.30 | +4.79 |
| Martin ratioReturn relative to average drawdown | 16.86 | -0.58 | +17.44 |
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Drawdowns
AXSIX vs. JMM - Drawdown Comparison
The maximum AXSIX drawdown since its inception was -12.55%, smaller than the maximum JMM drawdown of -48.15%. Use the drawdown chart below to compare losses from any high point for AXSIX and JMM.
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Drawdown Indicators
| AXSIX | JMM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.55% | -48.15% | +35.60% |
Max Drawdown (1Y)Largest decline over 1 year | -1.22% | -8.28% | +7.06% |
Max Drawdown (3Y)Largest decline over 3 years | -1.22% | -9.92% | +8.70% |
Max Drawdown (5Y)Largest decline over 5 years | -6.87% | -24.19% | +17.32% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.48% | — |
Current DrawdownCurrent decline from peak | 0.00% | -4.97% | +4.97% |
Average DrawdownAverage peak-to-trough decline | -1.93% | -14.08% | +12.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.32% | 4.36% | -4.04% |
Volatility
AXSIX vs. JMM - Volatility Comparison
The current volatility for Axonic Strategic Income Fund (AXSIX) is 0.62%, while Nuveen Multi-Market Income Fund (JMM) has a volatility of 1.79%. This indicates that AXSIX experiences smaller price fluctuations and is considered to be less risky than JMM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AXSIX | JMM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.62% | 1.79% | -1.17% |
Volatility (6M)Calculated over the trailing 6-month period | 1.66% | 8.16% | -6.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.37% | 11.22% | -8.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.20% | 13.41% | -11.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.68% | 13.90% | -10.22% |
AXSIX vs. JMM - Expense Ratio Comparison
AXSIX has a 1.00% expense ratio, which is higher than JMM's 0.04% expense ratio.
Dividends
AXSIX vs. JMM - Dividend Comparison
AXSIX's dividend yield for the trailing twelve months is around 6.02%, more than JMM's 5.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AXSIX Axonic Strategic Income Fund | 6.02% | 6.39% | 6.52% | 6.24% | 3.89% | 6.70% | 2.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JMM Nuveen Multi-Market Income Fund | 5.96% | 5.76% | 5.48% | 5.58% | 6.13% | 4.60% | 4.49% | 4.86% | 5.34% | 5.63% | 6.19% | 6.76% |
Frequently Asked Questions
AXSIX and JMM 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.
JMM has higher volatility (1.79%) compared to AXSIX (0.62%). In terms of maximum drawdown, AXSIX dropped -12.55% vs JMM's -48.15%.
AXSIX currently has the higher Sharpe Ratio (2.32 vs -0.23), 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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