HLEIX vs. VFIAX

Last updated Jun 24, 2026

HLEIX (JPMorgan Equity Index Fund Class I) and VFIAX (Vanguard 500 Index Fund Admiral Shares) are both mutual funds - HLEIX is a Large Cap Blend Equities fund tracking the S&P 500 Index, while VFIAX is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, HLEIX returned 15.54%/yr vs 15.76%/yr for VFIAX. With a 1.00 correlation, they move nearly in lockstep. HLEIX charges 0.38%/yr vs 0.04%/yr for VFIAX.

Performance

HLEIX vs. VFIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Index Fund Class I (HLEIX) and Vanguard 500 Index Fund Admiral Shares (VFIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with HLEIX having a 9.44% return and VFIAX slightly higher at 9.77%. Both investments have delivered pretty close results over the past 10 years, with HLEIX having a 15.54% annualized return and VFIAX not far ahead at 15.76%.

HLEIX

• 1D: -0.36%
• 1M: 0.08%
• YTD: 9.44%
• 6M: 8.44%
• 1Y: 25.00%
• 3Y*: 21.08%
• 5Y*: 13.33%
• 10Y*: 15.54%

VFIAX

• 1D: -0.36%
• 1M: 0.10%
• YTD: 9.77%
• 6M: 8.77%
• 1Y: 25.48%
• 3Y*: 21.36%
• 5Y*: 13.57%
• 10Y*: 15.76%

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

HLEIX vs. VFIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HLEIX JPMorgan Equity Index Fund Class I	9.44%	17.65%	24.78%	26.02%	-18.29%	28.44%	18.19%	31.23%	-4.62%	21.62%
VFIAX Vanguard 500 Index Fund Admiral Shares	9.77%	17.83%	24.97%	26.24%	-18.16%	28.65%	18.32%	31.46%	-4.45%	21.78%

Correlation

The correlation between HLEIX and VFIAX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Nov 13, 2000	1.00

The correlation between HLEIX and VFIAX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

HLEIX vs. VFIAX — Risk / Return Rank

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

HLEIX

HLEIX Risk / Return Rank: 61
HLEIX Sharpe Ratio Rank: 60
HLEIX Sortino Ratio Rank: 55
HLEIX Omega Ratio Rank: 57
HLEIX Calmar Ratio Rank: 61
HLEIX Martin Ratio Rank: 74

VFIAX

VFIAX Risk / Return Rank: 65
VFIAX Sharpe Ratio Rank: 63
VFIAX Sortino Ratio Rank: 57
VFIAX Omega Ratio Rank: 59
VFIAX Calmar Ratio Rank: 68
VFIAX Martin Ratio Rank: 78

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. VFIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Index Fund Class I (HLEIX) and Vanguard 500 Index Fund Admiral Shares (VFIAX). 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	VFIAX	Difference
Sharpe ratio: Return per unit of total volatility	2.10	2.15	-0.04
Sortino ratio: Return per unit of downside risk	2.84	2.91	-0.06
Omega ratio: Gain probability vs. loss probability	1.38	1.39	-0.01
Calmar ratio: Return relative to maximum drawdown	2.88	3.01	-0.13
Martin ratio: Return relative to average drawdown	13.14	13.60	-0.46

HLEIX vs. VFIAX - Sharpe Ratio Comparison

The current HLEIX Sharpe Ratio is 2.10, which is comparable to the VFIAX Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of HLEIX and VFIAX, 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. VFIAX - Drawdown Comparison

The maximum HLEIX drawdown since its inception was -55.22%, roughly equal to the maximum VFIAX drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for HLEIX and VFIAX.

Drawdown Indicators

	HLEIX	VFIAX	Difference
Max Drawdown Largest peak-to-trough decline	-55.22%	-55.20%	-0.02%
Max Drawdown (1Y) Largest decline over 1 year	-9.14%	-8.90%	-0.24%
Max Drawdown (3Y) Largest decline over 3 years	-18.77%	-18.75%	-0.02%
Max Drawdown (5Y) Largest decline over 5 years	-24.62%	-24.53%	-0.09%
Max Drawdown (10Y) Largest decline over 10 years	-33.73%	-33.83%	+0.10%
Current Drawdown Current decline from peak	-1.73%	-1.72%	-0.01%
Average Drawdown Average peak-to-trough decline	-8.78%	-9.38%	+0.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	1.97%	+0.03%

Volatility

HLEIX vs. VFIAX - Volatility Comparison

JPMorgan Equity Index Fund Class I (HLEIX) and Vanguard 500 Index Fund Admiral Shares (VFIAX) have volatilities of 4.67% and 4.67%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HLEIX	VFIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.67%	4.67%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	9.88%	9.84%	+0.04%
Volatility (1Y) Calculated over the trailing 1-year period	12.53%	12.50%	+0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.98%	16.99%	-0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.12%	18.11%	+0.01%

HLEIX vs. VFIAX - Expense Ratio Comparison

HLEIX has a 0.38% expense ratio, which is higher than VFIAX's 0.04% expense ratio.

Dividends

HLEIX vs. VFIAX - Dividend Comparison

HLEIX's dividend yield for the trailing twelve months is around 0.84%, less than VFIAX's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HLEIX JPMorgan Equity Index Fund Class I	0.84%	1.12%	1.09%	1.32%	1.50%	2.39%	1.58%	2.02%	2.16%	2.46%	11.24%	20.30%
VFIAX Vanguard 500 Index Fund Admiral Shares	1.03%	1.12%	1.24%	1.45%	1.68%	1.24%	1.53%	1.87%	2.05%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both HLEIX and VFIAX in my portfolio?

With a correlation of 1.00, HLEIX and VFIAX 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 VFIAX?

VFIAX has higher volatility (4.67%) compared to HLEIX (4.67%). In terms of maximum drawdown, HLEIX dropped -55.22% vs VFIAX's -55.20%.

Which has better risk-adjusted returns?

VFIAX currently has the higher Sharpe Ratio (2.15 vs 2.10), 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.