FLMVX vs. VIIIX

Last updated Jun 23, 2026

FLMVX (JPMorgan Mid Cap Value Fund) and VIIIX (Vanguard Institutional Index Fund Institutional Plus Shares) are both mutual funds - FLMVX is a Mid Cap Value Equities fund managed by JPMorgan, while VIIIX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, FLMVX returned 10.39%/yr vs 15.65%/yr for VIIIX. Their correlation of 0.86 suggests significant overlap in exposure. FLMVX charges 0.75%/yr vs 0.02%/yr for VIIIX.

Performance

FLMVX vs. VIIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Mid Cap Value Fund (FLMVX) and Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLMVX achieves a 8.96% return, which is significantly lower than VIIIX's 10.19% return. Over the past 10 years, FLMVX has underperformed VIIIX with an annualized return of 10.39%, while VIIIX has yielded a comparatively higher 15.65% annualized return.

FLMVX

• 1D: 0.43%
• 1M: 1.88%
• YTD: 8.96%
• 6M: 7.81%
• 1Y: 16.14%
• 3Y*: 16.81%
• 5Y*: 10.61%
• 10Y*: 10.39%

VIIIX

• 1D: 1.09%
• 1M: 0.47%
• YTD: 10.19%
• 6M: 9.68%
• 1Y: 27.18%
• 3Y*: 21.39%
• 5Y*: 14.24%
• 10Y*: 15.65%

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

FLMVX vs. VIIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLMVX JPMorgan Mid Cap Value Fund	8.96%	5.17%	27.75%	11.38%	-8.11%	29.89%	0.36%	26.67%	-11.66%	13.67%
VIIIX Vanguard Institutional Index Fund Institutional Plus Shares	10.19%	17.87%	26.29%	25.79%	-18.14%	28.69%	18.41%	31.48%	-4.41%	21.82%

Correlation

The correlation between FLMVX and VIIIX is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Nov 13, 1997	0.86

Over the past year, the correlation between FLMVX and VIIIX has dropped to 0.60 - well below their long-term average of 0.86, suggesting their price drivers have been diverging.

Return for Risk

FLMVX vs. VIIIX — Risk / Return Rank

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

FLMVX

FLMVX Risk / Return Rank: 32
FLMVX Sharpe Ratio Rank: 26
FLMVX Sortino Ratio Rank: 29
FLMVX Omega Ratio Rank: 24
FLMVX Calmar Ratio Rank: 41
FLMVX Martin Ratio Rank: 37

VIIIX

VIIIX Risk / Return Rank: 66
VIIIX Sharpe Ratio Rank: 64
VIIIX Sortino Ratio Rank: 59
VIIIX Omega Ratio Rank: 61
VIIIX Calmar Ratio Rank: 68
VIIIX Martin Ratio Rank: 79

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. VIIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Mid Cap Value Fund (FLMVX) and Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX). 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.

	FLMVX	VIIIX	Difference
Sharpe ratio: Return per unit of total volatility	1.37	2.17	-0.80
Sortino ratio: Return per unit of downside risk	2.08	2.93	-0.85
Omega ratio: Gain probability vs. loss probability	1.24	1.39	-0.15
Calmar ratio: Return relative to maximum drawdown	2.31	3.04	-0.73
Martin ratio: Return relative to average drawdown	7.81	13.74	-5.93

FLMVX vs. VIIIX - Sharpe Ratio Comparison

The current FLMVX Sharpe Ratio is 1.37, which is lower than the VIIIX Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of FLMVX and VIIIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FLMVX vs. VIIIX - Drawdown Comparison

The maximum FLMVX drawdown since its inception was -54.72%, roughly equal to the maximum VIIIX drawdown of -55.18%. Use the drawdown chart below to compare losses from any high point for FLMVX and VIIIX.

Drawdown Indicators

	FLMVX	VIIIX	Difference
Max Drawdown Largest peak-to-trough decline	-54.72%	-55.18%	+0.46%
Max Drawdown (1Y) Largest decline over 1 year	-7.19%	-8.90%	+1.71%
Max Drawdown (3Y) Largest decline over 3 years	-15.91%	-18.75%	+2.84%
Max Drawdown (5Y) Largest decline over 5 years	-25.59%	-24.50%	-1.09%
Max Drawdown (10Y) Largest decline over 10 years	-43.06%	-33.79%	-9.27%
Current Drawdown Current decline from peak	-0.97%	-1.36%	+0.39%
Average Drawdown Average peak-to-trough decline	-6.44%	-10.00%	+3.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.12%	1.96%	+0.16%

Volatility

FLMVX vs. VIIIX - Volatility Comparison

The current volatility for JPMorgan Mid Cap Value Fund (FLMVX) is 3.53%, while Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX) has a volatility of 4.77%. This indicates that FLMVX experiences smaller price fluctuations and is considered to be less risky than VIIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLMVX	VIIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	4.77%	-1.24%
Volatility (6M) Calculated over the trailing 6-month period	8.66%	9.91%	-1.25%
Volatility (1Y) Calculated over the trailing 1-year period	12.18%	12.47%	-0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.35%	16.99%	+2.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.45%	18.10%	+2.35%

FLMVX vs. VIIIX - Expense Ratio Comparison

FLMVX has a 0.75% expense ratio, which is higher than VIIIX's 0.02% expense ratio.

Dividends

FLMVX vs. VIIIX - Dividend Comparison

FLMVX's dividend yield for the trailing twelve months is around 19.42%, more than VIIIX's 2.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLMVX JPMorgan Mid Cap Value Fund	19.42%	21.16%	23.25%	6.10%	11.73%	14.98%	7.73%	5.20%	8.30%	2.71%	7.04%	6.69%
VIIIX Vanguard Institutional Index Fund Institutional Plus Shares	2.44%	2.11%	3.66%	2.66%	3.39%	4.79%	3.07%	2.86%	2.45%	1.84%	2.38%	2.47%

Frequently Asked Questions

Can I hold both FLMVX and VIIIX in my portfolio?

FLMVX and VIIIX have a correlation of 0.60, 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 VIIIX?

VIIIX has higher volatility (4.77%) compared to FLMVX (3.53%). In terms of maximum drawdown, FLMVX dropped -54.72% vs VIIIX's -55.18%.

Which has better risk-adjusted returns?

VIIIX currently has the higher Sharpe Ratio (2.17 vs 1.37), 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.