FPNIX vs. JPLD
FPNIX (FPA New Income Fund) and JPLD (JPMorgan Limited Duration Bond ETF) are both Short-Term Bond funds. Over the past year, FPNIX returned 3.43% vs 4.34% for JPLD. A 0.73 correlation means they provide meaningful diversification when combined. FPNIX charges 0.45%/yr vs 0.24%/yr for JPLD.
Performance
FPNIX vs. JPLD - Performance Comparison
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Returns By Period
In the year-to-date period, FPNIX achieves a 0.18% return, which is significantly lower than JPLD's 1.39% return.
FPNIX
- 1D
- 0.30%
- 1M
- 0.32%
- YTD
- 0.18%
- 6M
- 0.28%
- 1Y
- 3.43%
- 3Y*
- 5.38%
- 5Y*
- 3.01%
- 10Y*
- 2.82%
JPLD
- 1D
- 0.24%
- 1M
- 0.47%
- YTD
- 1.39%
- 6M
- 1.51%
- 1Y
- 4.34%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FPNIX vs. JPLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FPNIX FPA New Income Fund | 0.18% | 6.71% | 4.58% | 4.29% |
JPLD JPMorgan Limited Duration Bond ETF | 1.39% | 6.01% | 6.49% | 3.15% |
Correlation
The correlation between FPNIX and JPLD is 0.73, 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 | 0.73 |
Correlation (All Time) Calculated using the full available price history since Jul 31, 2023 | 0.73 |
The correlation between FPNIX and JPLD has been stable across timeframes, ranging from 0.73 to 0.73 - a consistent structural relationship.
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Return for Risk
FPNIX vs. JPLD — Risk / Return Rank
FPNIX
JPLD
FPNIX vs. JPLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FPA New Income Fund (FPNIX) and JPMorgan Limited Duration Bond ETF (JPLD). 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.
| FPNIX | JPLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.42 | ||
| Sortino ratioReturn per unit of downside risk | -2.31 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.61 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.80 | 4.34 | -2.54 |
| Martin ratioReturn relative to average drawdown | 4.71 | 19.71 | -15.00 |
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Drawdowns
FPNIX vs. JPLD - Drawdown Comparison
The maximum FPNIX drawdown since its inception was -22.95%, which is greater than JPLD's maximum drawdown of -1.17%. Use the drawdown chart below to compare losses from any high point for FPNIX and JPLD.
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Drawdown Indicators
| FPNIX | JPLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.95% | -1.17% | -21.78% |
Max Drawdown (1Y)Largest decline over 1 year | -1.97% | -1.00% | -0.97% |
Max Drawdown (3Y)Largest decline over 3 years | -1.97% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -4.67% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -4.67% | — | — |
Current DrawdownCurrent decline from peak | -1.15% | 0.00% | -1.15% |
Average DrawdownAverage peak-to-trough decline | -1.86% | -0.15% | -1.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 0.22% | +0.53% |
Volatility
FPNIX vs. JPLD - Volatility Comparison
FPA New Income Fund (FPNIX) has a higher volatility of 0.82% compared to JPMorgan Limited Duration Bond ETF (JPLD) at 0.56%. This indicates that FPNIX's price experiences larger fluctuations and is considered to be riskier than JPLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FPNIX | JPLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 0.56% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 1.76% | 1.07% | +0.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.35% | 1.48% | +0.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.47% | 1.84% | +0.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.91% | 1.84% | +0.07% |
FPNIX vs. JPLD - Expense Ratio Comparison
FPNIX has a 0.45% expense ratio, which is higher than JPLD's 0.24% expense ratio.
Dividends
FPNIX vs. JPLD - Dividend Comparison
FPNIX's dividend yield for the trailing twelve months is around 3.82%, less than JPLD's 4.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPNIX FPA New Income Fund | 3.82% | 3.36% | 4.39% | 3.37% | 2.13% | 1.24% | 2.17% | 2.63% | 3.10% | 2.84% | 2.31% | 1.87% |
JPLD JPMorgan Limited Duration Bond ETF | 4.19% | 4.24% | 4.47% | 1.83% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FPNIX and JPLD have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FPNIX has higher volatility (0.82%) compared to JPLD (0.56%). In terms of maximum drawdown, FPNIX dropped -22.95% vs JPLD's -1.17%.
JPLD currently has the higher Sharpe Ratio (2.93 vs 1.51), 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.
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