ERBIX vs. GAOAX

Last updated Jun 5, 2026

ERBIX (Eaton Vance Richard Bernstein Equity Strategy Fund) and GAOAX (JPMorgan Global Allocation Fund A) are both Global Equities funds. Over the past 10 years, ERBIX returned 12.32%/yr vs 6.42%/yr for GAOAX. With a 0.95 correlation, they move nearly in lockstep. ERBIX charges 0.93%/yr vs 1.04%/yr for GAOAX.

Performance

ERBIX vs. GAOAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Richard Bernstein Equity Strategy Fund (ERBIX) and JPMorgan Global Allocation Fund A (GAOAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ERBIX achieves a 10.68% return, which is significantly higher than GAOAX's 4.65% return. Over the past 10 years, ERBIX has outperformed GAOAX with an annualized return of 12.32%, while GAOAX has yielded a comparatively lower 6.42% annualized return.

ERBIX

• 1D: -0.74%
• 1M: 3.40%
• YTD: 10.68%
• 6M: 11.80%
• 1Y: 26.12%
• 3Y*: 16.87%
• 5Y*: 8.62%
• 10Y*: 12.32%

GAOAX

• 1D: -0.77%
• 1M: 2.25%
• YTD: 4.65%
• 6M: 5.23%
• 1Y: 14.22%
• 3Y*: 11.53%
• 5Y*: 2.81%
• 10Y*: 6.42%

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

ERBIX vs. GAOAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ERBIX Eaton Vance Richard Bernstein Equity Strategy Fund	10.68%	18.35%	15.00%	14.63%	-14.75%	17.75%	16.49%	36.69%	-11.86%	20.94%
GAOAX JPMorgan Global Allocation Fund A	4.65%	14.68%	7.91%	12.69%	-18.74%	3.60%	15.29%	15.95%	-6.07%	16.82%

Correlation

The correlation between ERBIX and GAOAX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jul 2, 2013	0.95

The correlation between ERBIX and GAOAX has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

ERBIX vs. GAOAX — Risk / Return Rank

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

ERBIX

ERBIX Risk / Return Rank: 49
ERBIX Sharpe Ratio Rank: 49
ERBIX Sortino Ratio Rank: 46
ERBIX Omega Ratio Rank: 48
ERBIX Calmar Ratio Rank: 45
ERBIX Martin Ratio Rank: 57

GAOAX

GAOAX Risk / Return Rank: 27
GAOAX Sharpe Ratio Rank: 29
GAOAX Sortino Ratio Rank: 27
GAOAX Omega Ratio Rank: 29
GAOAX Calmar Ratio Rank: 21
GAOAX Martin Ratio Rank: 28

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.

ERBIX vs. GAOAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Richard Bernstein Equity Strategy Fund (ERBIX) and JPMorgan Global Allocation Fund A (GAOAX). 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.

	ERBIX	GAOAX	Difference
Sharpe ratio: Return per unit of total volatility	2.06	1.52	+0.54
Sortino ratio: Return per unit of downside risk	2.86	2.14	+0.72
Omega ratio: Gain probability vs. loss probability	1.37	1.28	+0.10
Calmar ratio: Return relative to maximum drawdown	2.53	1.65	+0.88
Martin ratio: Return relative to average drawdown	11.43	6.58	+4.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ERBIX vs. GAOAX - Sharpe Ratio Comparison

The current ERBIX Sharpe Ratio is 2.06, which is higher than the GAOAX Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of ERBIX and GAOAX, 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

	ERBIX	GAOAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	1.52	+0.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.25	+0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	0.59	+0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.60	+0.15

Drawdowns

ERBIX vs. GAOAX - Drawdown Comparison

The maximum ERBIX drawdown since its inception was -29.18%, roughly equal to the maximum GAOAX drawdown of -29.02%. Use the drawdown chart below to compare losses from any high point for ERBIX and GAOAX.

Drawdown Indicators

	ERBIX	GAOAX	Difference
Max Drawdown Largest peak-to-trough decline	-29.18%	-29.02%	-0.16%
Max Drawdown (1Y) Largest decline over 1 year	-10.42%	-8.95%	-1.47%
Max Drawdown (3Y) Largest decline over 3 years	-16.49%	-10.87%	-5.62%
Max Drawdown (5Y) Largest decline over 5 years	-24.32%	-29.02%	+4.70%
Max Drawdown (10Y) Largest decline over 10 years	-29.18%	-29.02%	-0.16%
Current Drawdown Current decline from peak	-0.74%	-0.77%	+0.03%
Average Drawdown Average peak-to-trough decline	-4.49%	-5.96%	+1.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.30%	2.24%	+0.06%

Volatility

ERBIX vs. GAOAX - Volatility Comparison

Eaton Vance Richard Bernstein Equity Strategy Fund (ERBIX) has a higher volatility of 3.75% compared to JPMorgan Global Allocation Fund A (GAOAX) at 2.94%. This indicates that ERBIX's price experiences larger fluctuations and is considered to be riskier than GAOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ERBIX	GAOAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.75%	2.94%	+0.81%
Volatility (6M) Calculated over the trailing 6-month period	10.35%	7.99%	+2.36%
Volatility (1Y) Calculated over the trailing 1-year period	12.79%	9.73%	+3.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.96%	11.10%	+3.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.40%	10.88%	+5.52%

ERBIX vs. GAOAX - Expense Ratio Comparison

ERBIX has a 0.93% expense ratio, which is lower than GAOAX's 1.04% expense ratio.

Dividends

ERBIX vs. GAOAX - Dividend Comparison

ERBIX's dividend yield for the trailing twelve months is around 16.39%, more than GAOAX's 9.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ERBIX Eaton Vance Richard Bernstein Equity Strategy Fund	16.39%	18.14%	4.12%	8.82%	5.97%	13.08%	2.63%	16.82%	5.93%	5.78%	3.59%	2.32%
GAOAX JPMorgan Global Allocation Fund A	9.22%	10.15%	2.34%	0.00%	4.62%	4.61%	1.54%	2.43%	2.52%	2.95%	2.59%	0.96%

Frequently Asked Questions

Can I hold both ERBIX and GAOAX in my portfolio?

With a correlation of 0.96, ERBIX and GAOAX 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.

Which is riskier, ERBIX or GAOAX?

ERBIX has higher volatility (3.75%) compared to GAOAX (2.94%). In terms of maximum drawdown, ERBIX dropped -29.18% vs GAOAX's -29.02%.

Which has better risk-adjusted returns?

ERBIX currently has the higher Sharpe Ratio (2.06 vs 1.52), 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.