FMSGX vs. GAOAX

Last updated Jun 4, 2026

FMSGX (Frontier MFG Global Sustainable Fund) and GAOAX (JPMorgan Global Allocation Fund A) are both Global Equities funds. Over the past 5 years, FMSGX returned 10.36%/yr vs 3.10%/yr for GAOAX. Their correlation of 0.84 suggests significant overlap in exposure. FMSGX charges 0.80%/yr vs 1.04%/yr for GAOAX.

Performance

FMSGX vs. GAOAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Frontier MFG Global Sustainable Fund (FMSGX) 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, FMSGX achieves a -0.73% return, which is significantly lower than GAOAX's 5.47% return.

FMSGX

• 1D: -1.27%
• 1M: 0.80%
• YTD: -0.73%
• 6M: 1.66%
• 1Y: 9.56%
• 3Y*: 18.23%
• 5Y*: 10.36%
• 10Y*: —

GAOAX

• 1D: 0.37%
• 1M: 3.44%
• YTD: 5.47%
• 6M: 6.01%
• 1Y: 15.60%
• 3Y*: 11.82%
• 5Y*: 3.10%
• 10Y*: 6.50%

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

FMSGX vs. GAOAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FMSGX Frontier MFG Global Sustainable Fund	-0.73%	23.05%	20.91%	31.65%	-22.11%	15.83%	7.74%	8.17%
GAOAX JPMorgan Global Allocation Fund A	5.47%	14.68%	7.91%	12.69%	-18.74%	3.60%	15.29%	6.48%

Correlation

The correlation between FMSGX and GAOAX is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Oct 10, 2019	0.84

The correlation between FMSGX and GAOAX shifts across timeframes, from 0.74 (1 year) to 0.85 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FMSGX vs. GAOAX — Risk / Return Rank

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

FMSGX

FMSGX Risk / Return Rank: 10
FMSGX Sharpe Ratio Rank: 11
FMSGX Sortino Ratio Rank: 11
FMSGX Omega Ratio Rank: 11
FMSGX Calmar Ratio Rank: 8
FMSGX Martin Ratio Rank: 10

GAOAX

GAOAX Risk / Return Rank: 29
GAOAX Sharpe Ratio Rank: 32
GAOAX Sortino Ratio Rank: 30
GAOAX Omega Ratio Rank: 32
GAOAX Calmar Ratio Rank: 23
GAOAX Martin Ratio Rank: 30

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.

FMSGX vs. GAOAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Frontier MFG Global Sustainable Fund (FMSGX) 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.

	FMSGX	GAOAX	Difference
Sharpe ratio: Return per unit of total volatility	0.89	1.62	-0.73
Sortino ratio: Return per unit of downside risk	1.28	2.28	-0.99
Omega ratio: Gain probability vs. loss probability	1.16	1.30	-0.14
Calmar ratio: Return relative to maximum drawdown	0.77	1.75	-0.98
Martin ratio: Return relative to average drawdown	2.92	6.98	-4.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FMSGX vs. GAOAX - Sharpe Ratio Comparison

The current FMSGX Sharpe Ratio is 0.89, which is lower than the GAOAX Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of FMSGX 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

	FMSGX	GAOAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.89	1.62	-0.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.28	+0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.60	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.61	+0.09

Drawdowns

FMSGX vs. GAOAX - Drawdown Comparison

The maximum FMSGX drawdown since its inception was -28.73%, roughly equal to the maximum GAOAX drawdown of -29.02%. Use the drawdown chart below to compare losses from any high point for FMSGX and GAOAX.

Drawdown Indicators

	FMSGX	GAOAX	Difference
Max Drawdown Largest peak-to-trough decline	-28.73%	-29.02%	+0.29%
Max Drawdown (1Y) Largest decline over 1 year	-12.66%	-8.95%	-3.71%
Max Drawdown (3Y) Largest decline over 3 years	-12.66%	-10.87%	-1.79%
Max Drawdown (5Y) Largest decline over 5 years	-27.74%	-29.02%	+1.28%
Max Drawdown (10Y) Largest decline over 10 years	—	-29.02%	—
Current Drawdown Current decline from peak	-2.69%	0.00%	-2.69%
Average Drawdown Average peak-to-trough decline	-5.87%	-5.96%	+0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.35%	2.24%	+1.11%

Volatility

FMSGX vs. GAOAX - Volatility Comparison

Frontier MFG Global Sustainable Fund (FMSGX) has a higher volatility of 3.16% compared to JPMorgan Global Allocation Fund A (GAOAX) at 2.81%. This indicates that FMSGX'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

	FMSGX	GAOAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.16%	2.81%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	8.63%	7.96%	+0.67%
Volatility (1Y) Calculated over the trailing 1-year period	11.06%	9.70%	+1.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.27%	11.10%	+3.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.40%	10.88%	+5.52%

FMSGX vs. GAOAX - Expense Ratio Comparison

FMSGX has a 0.80% expense ratio, which is lower than GAOAX's 1.04% expense ratio.

Dividends

FMSGX vs. GAOAX - Dividend Comparison

FMSGX's dividend yield for the trailing twelve months is around 8.91%, less than GAOAX's 9.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMSGX Frontier MFG Global Sustainable Fund	8.91%	8.85%	9.34%	0.91%	0.62%	3.33%	0.23%	0.06%	0.00%	0.00%	0.00%	0.00%
GAOAX JPMorgan Global Allocation Fund A	9.15%	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 FMSGX and GAOAX in my portfolio?

FMSGX and GAOAX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FMSGX or GAOAX?

FMSGX has higher volatility (3.16%) compared to GAOAX (2.81%). In terms of maximum drawdown, FMSGX dropped -28.73% vs GAOAX's -29.02%.

Which has better risk-adjusted returns?

GAOAX currently has the higher Sharpe Ratio (1.62 vs 0.89), 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.