HLIEX vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about JPMorgan Equity Income Fund (HLIEX) and S&P 500 Index (^GSPC).

HLIEX is managed by JPMorgan. It was launched on Jul 2, 1987.

Performance

HLIEX vs. ^GSPC - Performance Comparison

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

HLIEX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HLIEX JPMorgan Equity Income Fund	1.62%	14.67%	19.67%	4.79%	-1.88%	25.10%	3.61%	26.30%	-4.45%	17.55%
^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, HLIEX achieves a 1.62% return, which is significantly higher than ^GSPC's -3.95% return. Over the past 10 years, HLIEX has underperformed ^GSPC with an annualized return of 11.39%, while ^GSPC has yielded a comparatively higher 12.24% annualized return.

HLIEX

• 1D: 1.91%
• 1M: -4.61%
• YTD: 1.62%
• 6M: 4.26%
• 1Y: 13.54%
• 3Y*: 14.35%
• 5Y*: 10.23%
• 10Y*: 11.39%

^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

HLIEX vs. ^GSPC — Risk / Return Rank

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

HLIEX

HLIEX Risk / Return Rank: 45
HLIEX Sharpe Ratio Rank: 40
HLIEX Sortino Ratio Rank: 38
HLIEX Omega Ratio Rank: 43
HLIEX Calmar Ratio Rank: 51
HLIEX Martin Ratio Rank: 55

^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.

HLIEX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Income Fund (HLIEX) 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.

	HLIEX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	0.88	0.92	-0.03
Sortino ratio Return per unit of downside risk	1.29	1.41	-0.13
Omega ratio Gain probability vs. loss probability	1.20	1.21	-0.02
Calmar ratio Return relative to maximum drawdown	1.31	1.41	-0.11
Martin ratio Return relative to average drawdown	5.58	6.61	-1.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HLIEX vs. ^GSPC - Sharpe Ratio Comparison

The current HLIEX Sharpe Ratio is 0.88, which is comparable to the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of HLIEX 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

	HLIEX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.88	0.92	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.61	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	0.68	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.46	+0.10

Correlation

The correlation between HLIEX and ^GSPC is 0.88, 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

HLIEX vs. ^GSPC - Drawdown Comparison

The maximum HLIEX drawdown since its inception was -50.33%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for HLIEX and ^GSPC.

Drawdown Indicators

	HLIEX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-50.33%	-56.78%	+6.45%
Max Drawdown (1Y) Largest decline over 1 year	-11.34%	-12.14%	+0.80%
Max Drawdown (5Y) Largest decline over 5 years	-14.85%	-25.43%	+10.58%
Max Drawdown (10Y) Largest decline over 10 years	-36.89%	-33.92%	-2.97%
Current Drawdown Current decline from peak	-5.30%	-5.78%	+0.48%
Average Drawdown Average peak-to-trough decline	-6.39%	-10.75%	+4.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	2.60%	+0.05%

Volatility

HLIEX vs. ^GSPC - Volatility Comparison

The current volatility for JPMorgan Equity Income Fund (HLIEX) is 4.07%, while S&P 500 Index (^GSPC) has a volatility of 5.37%. This indicates that HLIEX experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HLIEX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.07%	5.37%	-1.30%
Volatility (6M) Calculated over the trailing 6-month period	7.89%	9.55%	-1.66%
Volatility (1Y) Calculated over the trailing 1-year period	15.28%	18.33%	-3.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.30%	16.90%	-2.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.79%	18.05%	-1.26%