DGT vs. JHQAX

Last updated Jun 4, 2026

DGT (State Street SPDR Global Dow ETF) and JHQAX (JPMorgan Hedged Equity Fund) are both funds - DGT is a Global Equities fund tracking the The Global Dow, while JHQAX is a Options Trading fund managed by JPMorgan. Over the past 10 years, DGT returned 14.09%/yr vs 8.62%/yr for JHQAX. A 0.75 correlation means they provide meaningful diversification when combined. DGT charges 0.50%/yr vs 0.83%/yr for JHQAX.

Performance

DGT vs. JHQAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR Global Dow ETF (DGT) and JPMorgan Hedged Equity Fund (JHQAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DGT achieves a 12.72% return, which is significantly higher than JHQAX's -1.95% return. Over the past 10 years, DGT has outperformed JHQAX with an annualized return of 14.09%, while JHQAX has yielded a comparatively lower 8.62% annualized return.

DGT

• 1D: -0.58%
• 1M: 5.01%
• YTD: 12.72%
• 6M: 14.40%
• 1Y: 30.90%
• 3Y*: 22.91%
• 5Y*: 13.59%
• 10Y*: 14.09%

JHQAX

• 1D: -0.12%
• 1M: -0.17%
• YTD: -1.95%
• 6M: -1.35%
• 1Y: 6.62%
• 3Y*: 8.94%
• 5Y*: 6.73%
• 10Y*: 8.62%

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

DGT vs. JHQAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DGT State Street SPDR Global Dow ETF	12.72%	30.04%	14.15%	20.95%	-8.00%	21.50%	9.67%	22.19%	-9.65%	24.87%
JHQAX JPMorgan Hedged Equity Fund	-1.95%	7.22%	17.93%	15.78%	-8.27%	13.13%	13.77%	13.38%	-0.93%	12.45%

Correlation

The correlation between DGT and JHQAX is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Jun 2, 2014	0.75

The correlation between DGT and JHQAX has been stable across timeframes, ranging from 0.71 to 0.79 - a consistent structural relationship.

Return for Risk

DGT vs. JHQAX — Risk / Return Rank

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

DGT

DGT Risk / Return Rank: 77
DGT Sharpe Ratio Rank: 78
DGT Sortino Ratio Rank: 79
DGT Omega Ratio Rank: 79
DGT Calmar Ratio Rank: 73
DGT Martin Ratio Rank: 77

JHQAX

JHQAX Risk / Return Rank: 14
JHQAX Sharpe Ratio Rank: 15
JHQAX Sortino Ratio Rank: 14
JHQAX Omega Ratio Rank: 17
JHQAX Calmar Ratio Rank: 10
JHQAX Martin Ratio Rank: 12

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.

DGT vs. JHQAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Global Dow ETF (DGT) 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.

	DGT	JHQAX	Difference
Sharpe ratio Return per unit of total volatility	2.59	1.10	+1.50
Sortino ratio Return per unit of downside risk	3.58	1.52	+2.06
Omega ratio Gain probability vs. loss probability	1.48	1.21	+0.26
Calmar ratio Return relative to maximum drawdown	3.70	1.00	+2.70
Martin ratio Return relative to average drawdown	15.02	3.46	+11.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DGT vs. JHQAX - Sharpe Ratio Comparison

The current DGT Sharpe Ratio is 2.59, which is higher than the JHQAX Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of DGT and JHQAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DGT	JHQAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.59	1.10	+1.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.90	0.76	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	0.92	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.84	-0.54

Drawdowns

DGT vs. JHQAX - Drawdown Comparison

The maximum DGT drawdown since its inception was -55.36%, which is greater than JHQAX's maximum drawdown of -18.82%. Use the drawdown chart below to compare losses from any high point for DGT and JHQAX.

Drawdown Indicators

	DGT	JHQAX	Difference
Max Drawdown Largest peak-to-trough decline	-55.36%	-18.82%	-36.54%
Max Drawdown (1Y) Largest decline over 1 year	-8.38%	-6.91%	-1.47%
Max Drawdown (3Y) Largest decline over 3 years	-14.67%	-13.11%	-1.56%
Max Drawdown (5Y) Largest decline over 5 years	-25.18%	-14.48%	-10.70%
Max Drawdown (10Y) Largest decline over 10 years	-34.40%	-18.82%	-15.58%
Current Drawdown Current decline from peak	-0.58%	-3.21%	+2.63%
Average Drawdown Average peak-to-trough decline	-13.83%	-2.22%	-11.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	1.99%	+0.07%

Volatility

DGT vs. JHQAX - Volatility Comparison

State Street SPDR Global Dow ETF (DGT) has a higher volatility of 3.94% compared to JPMorgan Hedged Equity Fund (JHQAX) at 0.49%. This indicates that DGT'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.

Volatility by Period

	DGT	JHQAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.94%	0.49%	+3.45%
Volatility (6M) Calculated over the trailing 6-month period	9.54%	4.78%	+4.76%
Volatility (1Y) Calculated over the trailing 1-year period	11.98%	6.31%	+5.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.16%	8.86%	+6.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.95%	9.38%	+7.57%

DGT vs. JHQAX - Expense Ratio Comparison

DGT has a 0.50% expense ratio, which is lower than JHQAX's 0.83% expense ratio.

Dividends

DGT vs. JHQAX - Dividend Comparison

DGT's dividend yield for the trailing twelve months is around 2.52%, more than JHQAX's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGT State Street SPDR Global Dow ETF	2.52%	2.78%	2.83%	2.53%	3.15%	2.66%	1.97%	2.76%	2.50%	1.93%	2.31%	2.37%
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%

Frequently Asked Questions

Can I hold both DGT and JHQAX in my portfolio?

DGT and JHQAX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DGT or JHQAX?

DGT has higher volatility (3.94%) compared to JHQAX (0.49%). In terms of maximum drawdown, DGT dropped -55.36% vs JHQAX's -18.82%.

Which has better risk-adjusted returns?

DGT currently has the higher Sharpe Ratio (2.59 vs 1.09), 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.