FLMVX vs. ARFFX

Last updated Jun 4, 2026

FLMVX (JPMorgan Mid Cap Value Fund) and ARFFX (Ariel Focus Fund) are both Mid Cap Value Equities funds. Over the past 10 years, FLMVX returned 10.20%/yr vs 10.50%/yr for ARFFX. Their correlation of 0.90 suggests significant overlap in exposure. FLMVX charges 0.75%/yr vs 1.00%/yr for ARFFX.

Performance

FLMVX vs. ARFFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Mid Cap Value Fund (FLMVX) and Ariel Focus Fund (ARFFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLMVX achieves a 7.40% return, which is significantly lower than ARFFX's 10.06% return. Both investments have delivered pretty close results over the past 10 years, with FLMVX having a 10.20% annualized return and ARFFX not far ahead at 10.50%.

FLMVX

• 1D: 0.62%
• 1M: 0.82%
• YTD: 7.40%
• 6M: 7.73%
• 1Y: 14.09%
• 3Y*: 17.57%
• 5Y*: 9.02%
• 10Y*: 10.20%

ARFFX

• 1D: 0.63%
• 1M: 1.54%
• YTD: 10.06%
• 6M: 11.92%
• 1Y: 37.85%
• 3Y*: 17.87%
• 5Y*: 6.89%
• 10Y*: 10.50%

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

FLMVX vs. ARFFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLMVX JPMorgan Mid Cap Value Fund	7.40%	5.17%	27.75%	11.38%	-8.11%	29.89%	0.36%	26.67%	-11.66%	13.67%
ARFFX Ariel Focus Fund	10.06%	21.00%	13.39%	6.98%	-9.12%	21.14%	6.90%	25.62%	-13.23%	15.01%

Correlation

The correlation between FLMVX and ARFFX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jul 6, 2005	0.90

The correlation between FLMVX and ARFFX has been stable across timeframes, ranging from 0.81 to 0.91 - a consistent structural relationship.

Return for Risk

FLMVX vs. ARFFX — Risk / Return Rank

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

FLMVX

FLMVX Risk / Return Rank: 24
FLMVX Sharpe Ratio Rank: 19
FLMVX Sortino Ratio Rank: 21
FLMVX Omega Ratio Rank: 18
FLMVX Calmar Ratio Rank: 31
FLMVX Martin Ratio Rank: 30

ARFFX

ARFFX Risk / Return Rank: 83
ARFFX Sharpe Ratio Rank: 90
ARFFX Sortino Ratio Rank: 88
ARFFX Omega Ratio Rank: 80
ARFFX Calmar Ratio Rank: 92
ARFFX Martin Ratio Rank: 65

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.

FLMVX vs. ARFFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Mid Cap Value Fund (FLMVX) and Ariel Focus Fund (ARFFX). 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.

	FLMVX	ARFFX	Difference
Sharpe ratio: Return per unit of total volatility	1.26	2.98	-1.72
Sortino ratio: Return per unit of downside risk	1.93	4.23	-2.29
Omega ratio: Gain probability vs. loss probability	1.22	1.52	-0.30
Calmar ratio: Return relative to maximum drawdown	2.10	4.97	-2.87
Martin ratio: Return relative to average drawdown	7.09	12.73	-5.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLMVX vs. ARFFX - Sharpe Ratio Comparison

The current FLMVX Sharpe Ratio is 1.26, which is lower than the ARFFX Sharpe Ratio of 2.98. The chart below compares the historical Sharpe Ratios of FLMVX and ARFFX, 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

	FLMVX	ARFFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.26	2.98	-1.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.37	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.53	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.36	+0.26

Drawdowns

FLMVX vs. ARFFX - Drawdown Comparison

The maximum FLMVX drawdown since its inception was -54.72%, smaller than the maximum ARFFX drawdown of -57.66%. Use the drawdown chart below to compare losses from any high point for FLMVX and ARFFX.

Drawdown Indicators

	FLMVX	ARFFX	Difference
Max Drawdown Largest peak-to-trough decline	-54.72%	-57.66%	+2.94%
Max Drawdown (1Y) Largest decline over 1 year	-7.19%	-8.02%	+0.83%
Max Drawdown (3Y) Largest decline over 3 years	-15.91%	-23.39%	+7.48%
Max Drawdown (5Y) Largest decline over 5 years	-25.59%	-24.50%	-1.09%
Max Drawdown (10Y) Largest decline over 10 years	-43.06%	-43.22%	+0.16%
Current Drawdown Current decline from peak	-0.67%	-2.84%	+2.17%
Average Drawdown Average peak-to-trough decline	-6.45%	-9.45%	+3.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	3.12%	-0.99%

Volatility

FLMVX vs. ARFFX - Volatility Comparison

The current volatility for JPMorgan Mid Cap Value Fund (FLMVX) is 2.70%, while Ariel Focus Fund (ARFFX) has a volatility of 3.19%. This indicates that FLMVX experiences smaller price fluctuations and is considered to be less risky than ARFFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLMVX	ARFFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.70%	3.19%	-0.49%
Volatility (6M) Calculated over the trailing 6-month period	8.48%	9.34%	-0.86%
Volatility (1Y) Calculated over the trailing 1-year period	11.99%	13.37%	-1.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.36%	18.54%	+0.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.44%	19.87%	+0.57%

FLMVX vs. ARFFX - Expense Ratio Comparison

FLMVX has a 0.75% expense ratio, which is lower than ARFFX's 1.00% expense ratio.

Dividends

FLMVX vs. ARFFX - Dividend Comparison

FLMVX's dividend yield for the trailing twelve months is around 19.70%, more than ARFFX's 11.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARFFX Ariel Focus Fund	11.52%	12.68%	2.27%	3.33%	8.30%	3.30%	2.41%	1.03%	7.61%	5.76%	1.04%	13.91%
FLMVX JPMorgan Mid Cap Value Fund	19.70%	21.16%	23.25%	6.10%	11.73%	14.98%	7.73%	5.20%	8.30%	2.71%	7.04%	6.69%

Frequently Asked Questions

Can I hold both FLMVX and ARFFX in my portfolio?

FLMVX and ARFFX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLMVX or ARFFX?

ARFFX has higher volatility (3.19%) compared to FLMVX (2.70%). In terms of maximum drawdown, FLMVX dropped -54.72% vs ARFFX's -57.66%.

Which has better risk-adjusted returns?

ARFFX currently has the higher Sharpe Ratio (2.98 vs 1.26), 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.