HLGEX vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about JPMorgan Mid Cap Growth Fund (HLGEX) and S&P 500 Index (^GSPC).

HLGEX is managed by JPMorgan. It was launched on Mar 2, 1989.

Performance

HLGEX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Mid Cap Growth Fund (HLGEX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

HLGEX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HLGEX JPMorgan Mid Cap Growth Fund	-5.79%	8.65%	22.80%	23.11%	-27.08%	10.67%	48.33%	39.73%	-5.07%	29.51%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, HLGEX achieves a -5.79% return, which is significantly lower than ^GSPC's -3.95% return. Both investments have delivered pretty close results over the past 10 years, with HLGEX having a 12.70% annualized return and ^GSPC not far behind at 12.24%.

HLGEX

• 1D: 3.94%
• 1M: -6.15%
• YTD: -5.79%
• 6M: -8.32%
• 1Y: 11.90%
• 3Y*: 12.84%
• 5Y*: 3.94%
• 10Y*: 12.70%

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

HLGEX vs. ^GSPC — Risk / Return Rank

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

HLGEX

HLGEX Risk / Return Rank: 22
HLGEX Sharpe Ratio Rank: 19
HLGEX Sortino Ratio Rank: 21
HLGEX Omega Ratio Rank: 19
HLGEX Calmar Ratio Rank: 27
HLGEX Martin Ratio Rank: 23

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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.

HLGEX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Mid Cap Growth Fund (HLGEX) and S&P 500 Index (^GSPC). 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.

	HLGEX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	0.56	0.92	-0.36
Sortino ratio Return per unit of downside risk	0.95	1.41	-0.47
Omega ratio Gain probability vs. loss probability	1.13	1.21	-0.09
Calmar ratio Return relative to maximum drawdown	0.87	1.41	-0.55
Martin ratio Return relative to average drawdown	2.75	6.61	-3.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HLGEX vs. ^GSPC - Sharpe Ratio Comparison

The current HLGEX Sharpe Ratio is 0.56, which is lower than the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of HLGEX and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HLGEX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.56	0.92	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	0.61	-0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.68	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.46	+0.03

Correlation

The correlation between HLGEX and ^GSPC is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

HLGEX vs. ^GSPC - Drawdown Comparison

The maximum HLGEX drawdown since its inception was -57.65%, roughly equal to the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for HLGEX and ^GSPC.

Drawdown Indicators

	HLGEX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-57.65%	-56.78%	-0.87%
Max Drawdown (1Y) Largest decline over 1 year	-14.19%	-12.14%	-2.05%
Max Drawdown (5Y) Largest decline over 5 years	-37.16%	-25.43%	-11.73%
Max Drawdown (10Y) Largest decline over 10 years	-37.16%	-33.92%	-3.24%
Current Drawdown Current decline from peak	-10.81%	-5.78%	-5.03%
Average Drawdown Average peak-to-trough decline	-11.46%	-10.75%	-0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.46%	2.60%	+1.86%

Volatility

HLGEX vs. ^GSPC - Volatility Comparison

JPMorgan Mid Cap Growth Fund (HLGEX) has a higher volatility of 7.64% compared to S&P 500 Index (^GSPC) at 5.37%. This indicates that HLGEX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HLGEX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.64%	5.37%	+2.27%
Volatility (6M) Calculated over the trailing 6-month period	13.72%	9.55%	+4.17%
Volatility (1Y) Calculated over the trailing 1-year period	23.08%	18.33%	+4.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.32%	16.90%	+5.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.90%	18.05%	+3.85%