FLRG vs. JCPI

Last updated Jun 14, 2026

FLRG (Fidelity U.S. Multifactor ETF) and JCPI (JPMorgan Inflation Managed Bond ETF) are both exchange-traded funds - FLRG is a Large Cap Growth Equities fund tracking the Fidelity U.S. Multifactor Index, while JCPI is a Inflation-Protected Bonds fund actively managed by JPMorgan. FLRG is passively managed, while JCPI is actively managed. Over the past 3 years, FLRG returned 18.22%/yr vs 5.40%/yr for JCPI. At a 0.24 correlation, their price movements are largely independent. FLRG charges 0.29%/yr vs 0.25%/yr for JCPI.

Performance

FLRG vs. JCPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity U.S. Multifactor ETF (FLRG) and JPMorgan Inflation Managed Bond ETF (JCPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLRG achieves a 7.49% return, which is significantly higher than JCPI's 1.34% return.

FLRG

• 1D: 0.59%
• 1M: -0.73%
• YTD: 7.49%
• 6M: 6.89%
• 1Y: 17.66%
• 3Y*: 18.22%
• 5Y*: 12.45%
• 10Y*: —

JCPI

• 1D: -0.00%
• 1M: -0.47%
• YTD: 1.34%
• 6M: 1.12%
• 1Y: 4.86%
• 3Y*: 5.40%
• 5Y*: —
• 10Y*: —

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

FLRG vs. JCPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FLRG Fidelity U.S. Multifactor ETF	7.49%	13.92%	23.36%	18.31%	-5.73%
JCPI JPMorgan Inflation Managed Bond ETF	1.34%	7.10%	4.70%	5.04%	-5.53%

Correlation

The correlation between FLRG and JCPI is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (All Time) Calculated using the full available price history since Apr 11, 2022	0.24

Return for Risk

FLRG vs. JCPI — Risk / Return Rank

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

FLRG

FLRG Risk / Return Rank: 54
FLRG Sharpe Ratio Rank: 53
FLRG Sortino Ratio Rank: 53
FLRG Omega Ratio Rank: 52
FLRG Calmar Ratio Rank: 53
FLRG Martin Ratio Rank: 58

JCPI

JCPI Risk / Return Rank: 62
JCPI Sharpe Ratio Rank: 57
JCPI Sortino Ratio Rank: 64
JCPI Omega Ratio Rank: 58
JCPI Calmar Ratio Rank: 69
JCPI Martin Ratio Rank: 64

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.

FLRG vs. JCPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity U.S. Multifactor ETF (FLRG) and JPMorgan Inflation Managed Bond ETF (JCPI). 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.

	FLRG	JCPI	Difference
Sharpe ratio: Return per unit of total volatility	1.58	1.68	-0.10
Sortino ratio: Return per unit of downside risk	2.24	2.59	-0.35
Omega ratio: Gain probability vs. loss probability	1.28	1.31	-0.03
Calmar ratio: Return relative to maximum drawdown	2.31	3.05	-0.74
Martin ratio: Return relative to average drawdown	8.93	10.17	-1.24

FLRG vs. JCPI - Sharpe Ratio Comparison

The current FLRG Sharpe Ratio is 1.58, which is comparable to the JCPI Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of FLRG and JCPI, 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

FLRG vs. JCPI - Drawdown Comparison

The maximum FLRG drawdown since its inception was -19.64%, which is greater than JCPI's maximum drawdown of -7.85%. Use the drawdown chart below to compare losses from any high point for FLRG and JCPI.

Drawdown Indicators

	FLRG	JCPI	Difference
Max Drawdown Largest peak-to-trough decline	-19.64%	-7.85%	-11.79%
Max Drawdown (1Y) Largest decline over 1 year	-7.16%	-1.60%	-5.56%
Max Drawdown (3Y) Largest decline over 3 years	-16.53%	-2.81%	-13.72%
Max Drawdown (5Y) Largest decline over 5 years	-19.64%	—	—
Current Drawdown Current decline from peak	-1.87%	-0.74%	-1.13%
Average Drawdown Average peak-to-trough decline	-3.73%	-1.86%	-1.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	0.48%	+1.38%

Volatility

FLRG vs. JCPI - Volatility Comparison

Fidelity U.S. Multifactor ETF (FLRG) has a higher volatility of 3.57% compared to JPMorgan Inflation Managed Bond ETF (JCPI) at 0.90%. This indicates that FLRG's price experiences larger fluctuations and is considered to be riskier than JCPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLRG	JCPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.57%	0.90%	+2.67%
Volatility (6M) Calculated over the trailing 6-month period	8.13%	2.06%	+6.07%
Volatility (1Y) Calculated over the trailing 1-year period	10.49%	2.91%	+7.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.22%	4.49%	+10.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.03%	4.49%	+10.54%

FLRG vs. JCPI - Expense Ratio Comparison

FLRG has a 0.29% expense ratio, which is higher than JCPI's 0.25% expense ratio.

Dividends

FLRG vs. JCPI - Dividend Comparison

FLRG's dividend yield for the trailing twelve months is around 1.36%, less than JCPI's 3.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
FLRG Fidelity U.S. Multifactor ETF	1.36%	1.42%	1.42%	1.39%	1.62%	1.36%	1.47%
JCPI JPMorgan Inflation Managed Bond ETF	3.95%	3.93%	3.98%	3.45%	3.29%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FLRG and JCPI in my portfolio?

FLRG and JCPI have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLRG or JCPI?

FLRG has higher volatility (3.57%) compared to JCPI (0.90%). In terms of maximum drawdown, FLRG dropped -19.64% vs JCPI's -7.85%.

Which ETF is better, FLRG or JCPI?

On 3-year performance, FLRG leads with 18.22% vs 5.40% for JCPI. On fees, JCPI is cheaper at 0.25% per year. On volatility, JCPI has been the lower-risk option at 0.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLRG or JCPI?

Over the 3-year period, FLRG has performed better with a 18.22% return vs 5.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLRG or JCPI?

JCPI is cheaper with a 0.25% expense ratio, compared with 0.29% for FLRG.

Which ETF pays a higher dividend yield, FLRG or JCPI?

JCPI has the higher dividend yield at 3.95%, compared with 1.36% for FLRG.

What is the main difference between FLRG and JCPI?

FLRG is categorized as Large Cap Growth Equities, while JCPI is Inflation-Protected Bonds. They also come from different issuers: Fidelity and JPMorgan. Their fees differ too: 0.29% for FLRG and 0.25% for JCPI.

Which has better risk-adjusted returns?

JCPI currently has the higher Sharpe Ratio (1.68 vs 1.58), 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.