HLEIX vs. FNCMX

Last updated Aug 1, 2026

HLEIX (JPMorgan Equity Index Fund Class I) and FNCMX (Fidelity NASDAQ Composite Index Fund) are both mutual funds - HLEIX is a Large Cap Blend Equities fund tracking the S&P 500 Index, while FNCMX is a Large Cap Growth Equities fund tracking the Nasdaq Composite Index. Both are passively managed. Over the past 10 years, HLEIX returned 14.75%/yr vs 17.98%/yr for FNCMX. Their correlation of 0.90 means they have usually moved in the same direction. HLEIX charges 0.38%/yr vs 0.29%/yr for FNCMX.

Performance

HLEIX vs. FNCMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Index Fund Class I (HLEIX) and Fidelity NASDAQ Composite Index Fund (FNCMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HLEIX achieves a 8.99% return, which is significantly higher than FNCMX's 8.42% return. Over the past 10 years, HLEIX has underperformed FNCMX with an annualized return of 14.75%, while FNCMX has yielded a comparatively higher 17.98% annualized return.

HLEIX

• 1D: 1.66%
• 1M: -0.57%
• 6M: 7.45%
• YTD: 8.99%
• 1Y: 20.13%
• 3Y*: 18.72%
• 5Y*: 12.41%
• 10Y*: 14.75%
• ALL TIME*: 10.56%

FNCMX

• 1D: 2.78%
• 1M: -2.76%
• 6M: 7.39%
• YTD: 8.42%
• 1Y: 22.35%
• 3Y*: 21.45%
• 5Y*: 12.29%
• 10Y*: 17.98%
• ALL TIME*: 11.93%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FNCMX Fidelity NASDAQ Composite Index Fund	$0.00	$0.00	$0.00
HLEIX JPMorgan Equity Index Fund Class I	$0.00	$0.00	$0.00

HLEIX vs. FNCMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HLEIX JPMorgan Equity Index Fund Class I	8.99%	17.65%	24.78%	26.02%	-18.29%	28.44%	18.19%	31.23%	-4.62%	21.62%
FNCMX Fidelity NASDAQ Composite Index Fund	8.42%	21.11%	29.48%	45.13%	-32.40%	22.21%	44.57%	36.63%	-3.07%	28.35%

Correlation

The correlation between HLEIX and FNCMX is 0.95 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.95
Correlation (3Y) Balances recent behavior with more history.	0.94
Correlation (5Y) Shows whether the relationship held over a longer period.	0.95
Correlation (10Y) Provides a long-term view across more market conditions.	0.93
Correlation (All Time) Calculated using the full available price history since Jan 8, 2003	0.90

The correlation between HLEIX and FNCMX has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.

Return for Risk

HLEIX vs. FNCMX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HLEIX

HLEIX Risk / Return Rank: 57
HLEIX Sharpe Ratio Rank: 55
HLEIX Sortino Ratio Rank: 52
HLEIX Omega Ratio Rank: 53
HLEIX Calmar Ratio Rank: 56
HLEIX Martin Ratio Rank: 70

FNCMX

FNCMX Risk / Return Rank: 35
FNCMX Sharpe Ratio Rank: 36
FNCMX Sortino Ratio Rank: 35
FNCMX Omega Ratio Rank: 33
FNCMX Calmar Ratio Rank: 37
FNCMX Martin Ratio Rank: 36

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HLEIX vs. FNCMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Index Fund Class I (HLEIX) and Fidelity NASDAQ Composite Index Fund (FNCMX). 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.

	HLEIX	FNCMX	Difference
Sharpe ratio: Return per unit of total volatility	1.39	1.07	+0.32
Sortino ratio: Return per unit of downside risk	1.94	1.54	+0.40
Omega ratio: Gain probability vs. loss probability	1.25	1.19	+0.06
Calmar ratio: Return relative to maximum drawdown	1.96	1.51	+0.44
Martin ratio: Return relative to average drawdown	8.49	5.07	+3.42

HLEIX vs. FNCMX - Sharpe Ratio Comparison

The current HLEIX Sharpe Ratio is 1.39, which is comparable to the FNCMX Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of HLEIX and FNCMX, 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

HLEIX vs. FNCMX - Drawdown Comparison

The maximum HLEIX drawdown since its inception was -55.22%, roughly equal to the maximum FNCMX drawdown of -55.08%. Use the drawdown chart below to compare losses from any high point for HLEIX and FNCMX.

Drawdown Indicators

	HLEIX	FNCMX	Difference
Max Drawdown Largest peak-to-trough decline	-55.22%	-55.08%	-0.14%
Max Drawdown (1Y) Largest decline over 1 year	-9.14%	-13.01%	+3.87%
Max Drawdown (3Y) Largest decline over 3 years	-18.77%	-24.20%	+5.43%
Max Drawdown (5Y) Largest decline over 5 years	-24.62%	-35.64%	+11.02%
Max Drawdown (10Y) Largest decline over 10 years	-33.73%	-35.64%	+1.91%
Current Drawdown Current decline from peak	-2.13%	-7.19%	+5.06%
Average Drawdown Average peak-to-trough decline	-8.76%	-7.84%	-0.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	3.87%	-1.77%

Volatility

HLEIX vs. FNCMX - Volatility Comparison

The current volatility for JPMorgan Equity Index Fund Class I (HLEIX) is 3.45%, while Fidelity NASDAQ Composite Index Fund (FNCMX) has a volatility of 5.64%. This indicates that HLEIX experiences smaller price fluctuations and is considered to be less risky than FNCMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HLEIX	FNCMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.45%	5.64%	-2.19%
Volatility (6M) Calculated over the trailing 6-month period	10.14%	14.70%	-4.56%
Volatility (1Y) Calculated over the trailing 1-year period	12.89%	18.42%	-5.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.00%	22.79%	-5.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.07%	22.15%	-4.08%

HLEIX vs. FNCMX - Expense Ratio Comparison

HLEIX has a 0.38% expense ratio, which is higher than FNCMX's 0.29% expense ratio.

Dividends

HLEIX vs. FNCMX - Dividend Comparison

HLEIX's dividend yield for the trailing twelve months is around 0.86%, more than FNCMX's 0.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNCMX Fidelity NASDAQ Composite Index Fund	0.47%	0.51%	0.61%	0.67%	0.88%	0.47%	0.67%	4.41%	1.93%	0.03%	1.01%	1.50%
HLEIX JPMorgan Equity Index Fund Class I	0.86%	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 FNCMX in my portfolio?

With a correlation of 0.95, HLEIX and FNCMX 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 FNCMX?

FNCMX has higher volatility (5.64%) compared to HLEIX (3.45%). In terms of maximum drawdown, HLEIX dropped -55.22% vs FNCMX's -55.08%.

Which has better risk-adjusted returns?

HLEIX currently has the higher Sharpe Ratio (1.39 vs 1.07), 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.