HLEIX vs. DGRW

Last updated Jun 4, 2026

HLEIX (JPMorgan Equity Index Fund Class I) and DGRW (WisdomTree U.S. Quality Dividend Growth Fund) are both funds - HLEIX is a Large Cap Blend Equities fund tracking the S&P 500 Index, while DGRW is a Dividend fund tracking the WisdomTree U.S. Quality Dividend Growth Index. Both are passively managed. Over the past 10 years, HLEIX returned 15.41%/yr vs 14.15%/yr for DGRW. Their correlation of 0.94 suggests significant overlap in exposure. HLEIX charges 0.38%/yr vs 0.28%/yr for DGRW.

Performance

HLEIX vs. DGRW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Index Fund Class I (HLEIX) and WisdomTree U.S. Quality Dividend Growth Fund (DGRW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HLEIX achieves a 11.36% return, which is significantly higher than DGRW's 9.10% return. Over the past 10 years, HLEIX has outperformed DGRW with an annualized return of 15.41%, while DGRW has yielded a comparatively lower 14.15% annualized return.

HLEIX

• 1D: 0.13%
• 1M: 5.78%
• YTD: 11.36%
• 6M: 11.38%
• 1Y: 28.46%
• 3Y*: 22.43%
• 5Y*: 14.01%
• 10Y*: 15.41%

DGRW

• 1D: -0.83%
• 1M: 4.06%
• YTD: 9.10%
• 6M: 8.62%
• 1Y: 20.79%
• 3Y*: 16.64%
• 5Y*: 12.17%
• 10Y*: 14.15%

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

HLEIX vs. DGRW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HLEIX JPMorgan Equity Index Fund Class I	11.36%	17.65%	24.78%	26.02%	-18.29%	28.44%	18.19%	31.23%	-4.62%	21.62%
DGRW WisdomTree U.S. Quality Dividend Growth Fund	9.10%	12.17%	16.98%	18.66%	-6.33%	24.46%	13.87%	29.54%	-5.38%	26.90%

Correlation

The correlation between HLEIX and DGRW is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since May 23, 2013	0.94

The correlation between HLEIX and DGRW has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

Return for Risk

HLEIX vs. DGRW — Risk / Return Rank

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

HLEIX

HLEIX Risk / Return Rank: 70
HLEIX Sharpe Ratio Rank: 72
HLEIX Sortino Ratio Rank: 64
HLEIX Omega Ratio Rank: 65
HLEIX Calmar Ratio Rank: 69
HLEIX Martin Ratio Rank: 81

DGRW

DGRW Risk / Return Rank: 60
DGRW Sharpe Ratio Rank: 61
DGRW Sortino Ratio Rank: 65
DGRW Omega Ratio Rank: 63
DGRW Calmar Ratio Rank: 50
DGRW Martin Ratio Rank: 61

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.

HLEIX vs. DGRW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Index Fund Class I (HLEIX) and WisdomTree U.S. Quality Dividend Growth Fund (DGRW). 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.

	HLEIX	DGRW	Difference
Sharpe ratio: Return per unit of total volatility	2.47	2.12	+0.35
Sortino ratio: Return per unit of downside risk	3.35	3.09	+0.26
Omega ratio: Gain probability vs. loss probability	1.45	1.39	+0.06
Calmar ratio: Return relative to maximum drawdown	3.21	2.52	+0.69
Martin ratio: Return relative to average drawdown	15.15	11.03	+4.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HLEIX vs. DGRW - Sharpe Ratio Comparison

The current HLEIX Sharpe Ratio is 2.47, which is comparable to the DGRW Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of HLEIX and DGRW, 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

	HLEIX	DGRW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.47	2.12	+0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	0.88	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.86	0.88	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.86	-0.26

Drawdowns

HLEIX vs. DGRW - Drawdown Comparison

The maximum HLEIX drawdown since its inception was -55.22%, which is greater than DGRW's maximum drawdown of -32.04%. Use the drawdown chart below to compare losses from any high point for HLEIX and DGRW.

Drawdown Indicators

	HLEIX	DGRW	Difference
Max Drawdown Largest peak-to-trough decline	-55.22%	-32.04%	-23.18%
Max Drawdown (1Y) Largest decline over 1 year	-9.14%	-8.30%	-0.84%
Max Drawdown (3Y) Largest decline over 3 years	-18.77%	-16.21%	-2.56%
Max Drawdown (5Y) Largest decline over 5 years	-24.62%	-17.27%	-7.35%
Max Drawdown (10Y) Largest decline over 10 years	-33.73%	-32.04%	-1.69%
Current Drawdown Current decline from peak	0.00%	-0.83%	+0.83%
Average Drawdown Average peak-to-trough decline	-8.79%	-3.01%	-5.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	1.89%	+0.04%

Volatility

HLEIX vs. DGRW - Volatility Comparison

JPMorgan Equity Index Fund Class I (HLEIX) has a higher volatility of 2.82% compared to WisdomTree U.S. Quality Dividend Growth Fund (DGRW) at 2.47%. This indicates that HLEIX's price experiences larger fluctuations and is considered to be riskier than DGRW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HLEIX	DGRW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.82%	2.47%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	9.02%	7.64%	+1.38%
Volatility (1Y) Calculated over the trailing 1-year period	11.90%	9.88%	+2.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.88%	13.97%	+2.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.07%	16.21%	+1.86%

HLEIX vs. DGRW - Expense Ratio Comparison

HLEIX has a 0.38% expense ratio, which is higher than DGRW's 0.28% expense ratio.

Dividends

HLEIX vs. DGRW - Dividend Comparison

HLEIX's dividend yield for the trailing twelve months is around 0.82%, less than DGRW's 1.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRW WisdomTree U.S. Quality Dividend Growth Fund	1.27%	1.43%	1.55%	1.74%	2.15%	1.78%	1.93%	2.20%	2.42%	1.71%	2.13%	2.18%
HLEIX JPMorgan Equity Index Fund Class I	0.82%	1.12%	1.09%	1.32%	1.50%	2.39%	1.58%	2.02%	2.16%	2.46%	11.24%	20.30%

Frequently Asked Questions

Can I hold both HLEIX and DGRW in my portfolio?

With a correlation of 0.90, HLEIX and DGRW move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, HLEIX or DGRW?

HLEIX has higher volatility (2.82%) compared to DGRW (2.47%). In terms of maximum drawdown, HLEIX dropped -55.22% vs DGRW's -32.04%.

Which has better risk-adjusted returns?

HLEIX currently has the higher Sharpe Ratio (2.47 vs 2.12), 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.