CPMPX vs. JGH
CPMPX (Changing Parameters Fund) and JGH (Nuveen Global High Income Fund) are both High Yield Bonds funds. Over the past 10 years, CPMPX returned 4.05%/yr vs 7.61%/yr for JGH. Their 0.30 correlation means their historical movements had little consistent relationship. CPMPX charges 2.90%/yr vs 1.68%/yr for JGH.
Performance
CPMPX vs. JGH - Performance Comparison
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Returns By Period
In the year-to-date period, CPMPX achieves a 0.85% return, which is significantly lower than JGH's 5.11% return. Over the past 10 years, CPMPX has underperformed JGH with an annualized return of 4.05%, while JGH has yielded a comparatively higher 7.61% annualized return.
CPMPX
- 1D
- 0.09%
- 1M
- -0.28%
- 6M
- 0.47%
- YTD
- 0.85%
- 1Y
- 3.83%
- 3Y*
- 2.84%
- 5Y*
- 2.22%
- 10Y*
- 4.05%
- ALL TIME*
- 3.40%
JGH
- 1D
- 0.08%
- 1M
- -0.13%
- 6M
- 1.68%
- YTD
- 5.11%
- 1Y
- 4.74%
- 3Y*
- 13.20%
- 5Y*
- 5.30%
- 10Y*
- 7.61%
- ALL TIME*
- 6.27%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $971.44K | $1.41M | $1.21M |
CPMPX vs. JGH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CPMPX Changing Parameters Fund | 0.85% | 6.65% | -3.47% | 8.13% | -0.22% | 3.86% | 13.43% | 6.82% | -1.19% | 5.29% |
JGH Nuveen Global High Income Fund | 5.11% | 8.62% | 15.98% | 20.89% | -21.01% | 10.84% | 2.77% | 30.04% | -12.02% | 15.25% |
Correlation
The correlation between CPMPX and JGH is 0.33, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.33 |
Correlation (3Y) Balances recent behavior with more history. | 0.31 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.30 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.30 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2014 | 0.30 |
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Return for Risk
CPMPX vs. JGH — Risk / Return Rank
CPMPX
JGH
CPMPX vs. JGH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Changing Parameters Fund (CPMPX) and Nuveen Global High Income Fund (JGH). 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.
| CPMPX | JGH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.57 | ||
| Sortino ratioReturn per unit of downside risk | +2.25 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.10 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 2.87 | 0.57 | +2.30 |
| Martin ratioReturn relative to average drawdown | 7.80 | 1.35 | +6.45 |
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Drawdowns
CPMPX vs. JGH - Drawdown Comparison
The maximum CPMPX drawdown since its inception was -8.87%, smaller than the maximum JGH drawdown of -43.79%. Use the drawdown chart below to compare losses from any high point for CPMPX and JGH.
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Drawdown Indicators
| CPMPX | JGH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.87% | -43.79% | +34.92% |
Max Drawdown (1Y)Largest decline over 1 year | -1.31% | -8.37% | +7.06% |
Max Drawdown (3Y)Largest decline over 3 years | -8.13% | -13.70% | +5.57% |
Max Drawdown (5Y)Largest decline over 5 years | -8.13% | -28.66% | +20.53% |
Max Drawdown (10Y)Largest decline over 10 years | -8.13% | -43.79% | +35.66% |
Current DrawdownCurrent decline from peak | -1.09% | -2.07% | +0.98% |
Average DrawdownAverage peak-to-trough decline | -1.86% | -6.93% | +5.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 3.52% | -3.04% |
Volatility
CPMPX vs. JGH - Volatility Comparison
The current volatility for Changing Parameters Fund (CPMPX) is 0.48%, while Nuveen Global High Income Fund (JGH) has a volatility of 2.52%. This indicates that CPMPX experiences smaller price fluctuations and is considered to be less risky than JGH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CPMPX | JGH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.48% | 2.52% | -2.04% |
Volatility (6M)Calculated over the trailing 6-month period | 1.32% | 7.61% | -6.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.85% | 10.44% | -8.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.84% | 13.78% | -9.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.11% | 15.87% | -12.76% |
CPMPX vs. JGH - Expense Ratio Comparison
CPMPX has a 2.90% expense ratio, which is higher than JGH's 1.68% expense ratio.
Dividends
CPMPX vs. JGH - Dividend Comparison
CPMPX's dividend yield for the trailing twelve months is around 3.80%, less than JGH's 9.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CPMPX Changing Parameters Fund | 3.80% | 3.83% | 0.00% | 4.26% | 5.03% | 4.24% | 6.94% | 2.85% | 1.71% | 3.32% | 2.25% | 1.51% |
JGH Nuveen Global High Income Fund | 9.91% | 9.82% | 9.67% | 10.18% | 12.05% | 8.19% | 7.13% | 7.53% | 9.88% | 8.52% | 9.61% | 11.44% |
Frequently Asked Questions
CPMPX and JGH have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JGH has higher volatility (2.52%) compared to CPMPX (0.48%). In terms of maximum drawdown, CPMPX dropped -8.87% vs JGH's -43.79%.
CPMPX currently has the higher Sharpe Ratio (2.03 vs 0.46), 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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