CMNIX vs. JHQTX
Compare and contrast key facts about Calamos Market Neutral Income Fund Institutional Class (CMNIX) and JPMorgan Hedged Equity 3 Fund (JHQTX).
CMNIX is managed by Calamos. It was launched on May 10, 2000. JHQTX is managed by JPMorgan. It was launched on Feb 25, 2021.
Performance
CMNIX vs. JHQTX - Performance Comparison
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CMNIX vs. JHQTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CMNIX Calamos Market Neutral Income Fund Institutional Class | 0.37% | 6.89% | 7.43% | 9.17% | -4.26% | 4.27% |
JHQTX JPMorgan Hedged Equity 3 Fund | -3.00% | 9.32% | 16.76% | 18.60% | -14.49% | 13.16% |
Returns By Period
In the year-to-date period, CMNIX achieves a 0.37% return, which is significantly higher than JHQTX's -3.00% return.
CMNIX
- 1D
- 0.45%
- 1M
- -0.51%
- YTD
- 0.37%
- 6M
- 1.79%
- 1Y
- 6.09%
- 3Y*
- 6.86%
- 5Y*
- 4.49%
- 10Y*
- 4.67%
JHQTX
- 1D
- 1.50%
- 1M
- -2.96%
- YTD
- -3.00%
- 6M
- -0.33%
- 1Y
- 9.68%
- 3Y*
- 12.41%
- 5Y*
- 6.59%
- 10Y*
- —
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CMNIX vs. JHQTX - Expense Ratio Comparison
CMNIX has a 0.90% expense ratio, which is higher than JHQTX's 0.60% expense ratio.
Return for Risk
CMNIX vs. JHQTX — Risk / Return Rank
CMNIX
JHQTX
CMNIX vs. JHQTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Market Neutral Income Fund Institutional Class (CMNIX) and JPMorgan Hedged Equity 3 Fund (JHQTX). 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.
| CMNIX | JHQTX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.75 | 1.07 | +0.68 |
Sortino ratioReturn per unit of downside risk | 2.61 | 1.60 | +1.01 |
Omega ratioGain probability vs. loss probability | 1.55 | 1.24 | +0.31 |
Calmar ratioReturn relative to maximum drawdown | 2.27 | 1.71 | +0.56 |
Martin ratioReturn relative to average drawdown | 15.50 | 6.76 | +8.73 |
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
| CMNIX | JHQTX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.75 | 1.07 | +0.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.30 | 0.68 | +0.62 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.29 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.74 | -0.38 |
Correlation
The correlation between CMNIX and JHQTX is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
CMNIX vs. JHQTX - Dividend Comparison
CMNIX's dividend yield for the trailing twelve months is around 1.75%, more than JHQTX's 0.51% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMNIX Calamos Market Neutral Income Fund Institutional Class | 1.75% | 1.63% | 2.00% | 5.90% | 1.02% | 0.46% | 0.90% | 1.57% | 5.02% | 2.60% | 2.97% | 2.42% |
JHQTX JPMorgan Hedged Equity 3 Fund | 0.51% | 0.50% | 0.70% | 0.94% | 1.99% | 0.36% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
CMNIX vs. JHQTX - Drawdown Comparison
The maximum CMNIX drawdown since its inception was -35.16%, which is greater than JHQTX's maximum drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for CMNIX and JHQTX.
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Drawdown Indicators
| CMNIX | JHQTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.16% | -18.72% | -16.44% |
Max Drawdown (1Y)Largest decline over 1 year | -2.71% | -5.98% | +3.27% |
Max Drawdown (5Y)Largest decline over 5 years | -7.52% | -18.72% | +11.20% |
Max Drawdown (10Y)Largest decline over 10 years | -8.12% | — | — |
Current DrawdownCurrent decline from peak | -0.58% | -4.37% | +3.79% |
Average DrawdownAverage peak-to-trough decline | -7.20% | -4.25% | -2.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 1.51% | -1.11% |
Volatility
CMNIX vs. JHQTX - Volatility Comparison
The current volatility for Calamos Market Neutral Income Fund Institutional Class (CMNIX) is 0.92%, while JPMorgan Hedged Equity 3 Fund (JHQTX) has a volatility of 2.92%. This indicates that CMNIX experiences smaller price fluctuations and is considered to be less risky than JHQTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMNIX | JHQTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | 2.92% | -2.00% |
Volatility (6M)Calculated over the trailing 6-month period | 1.39% | 5.80% | -4.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.50% | 9.50% | -6.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.47% | 9.69% | -6.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.63% | 9.66% | -6.03% |