HLIEX vs. FLCOX

Last updated Jun 25, 2026

HLIEX (JPMorgan Equity Income Fund) and FLCOX (Fidelity Large Cap Value Index Fund) are both Large Cap Value Equities funds. Over the past 5 years, HLIEX returned 11.33%/yr vs 11.05%/yr for FLCOX. With a 0.97 correlation, they move nearly in lockstep. HLIEX charges 0.70%/yr vs 0.04%/yr for FLCOX.

Performance

HLIEX vs. FLCOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Income Fund (HLIEX) and Fidelity Large Cap Value Index Fund (FLCOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HLIEX achieves a 12.18% return, which is significantly lower than FLCOX's 15.41% return.

HLIEX

• 1D: -0.65%
• 1M: 2.68%
• YTD: 12.18%
• 6M: 10.86%
• 1Y: 22.63%
• 3Y*: 18.35%
• 5Y*: 11.33%
• 10Y*: 12.53%

FLCOX

• 1D: -1.08%
• 1M: 2.31%
• YTD: 15.41%
• 6M: 14.20%
• 1Y: 27.37%
• 3Y*: 18.63%
• 5Y*: 11.05%
• 10Y*: —

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

HLIEX vs. FLCOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HLIEX JPMorgan Equity Income Fund	12.18%	14.67%	19.67%	4.79%	-1.88%	25.10%	3.61%	26.30%	-4.45%	17.55%
FLCOX Fidelity Large Cap Value Index Fund	15.41%	15.90%	14.38%	11.48%	-7.57%	25.09%	2.87%	26.54%	-8.38%	10.90%

Correlation

The correlation between HLIEX and FLCOX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.97

The correlation between HLIEX and FLCOX has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.

Return for Risk

HLIEX vs. FLCOX — Risk / Return Rank

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

HLIEX

HLIEX Risk / Return Rank: 71
HLIEX Sharpe Ratio Rank: 71
HLIEX Sortino Ratio Rank: 71
HLIEX Omega Ratio Rank: 64
HLIEX Calmar Ratio Rank: 78
HLIEX Martin Ratio Rank: 73

FLCOX

FLCOX Risk / Return Rank: 84
FLCOX Sharpe Ratio Rank: 84
FLCOX Sortino Ratio Rank: 81
FLCOX Omega Ratio Rank: 76
FLCOX Calmar Ratio Rank: 88
FLCOX Martin Ratio Rank: 92

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. FLCOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Income Fund (HLIEX) and Fidelity Large Cap Value Index Fund (FLCOX). 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.

	HLIEX	FLCOX	Difference
Sharpe ratio: Return per unit of total volatility	2.24	2.53	-0.28
Sortino ratio: Return per unit of downside risk	3.18	3.54	-0.36
Omega ratio: Gain probability vs. loss probability	1.40	1.45	-0.05
Calmar ratio: Return relative to maximum drawdown	3.35	4.19	-0.84
Martin ratio: Return relative to average drawdown	12.77	17.44	-4.67

HLIEX vs. FLCOX - Sharpe Ratio Comparison

The current HLIEX Sharpe Ratio is 2.24, which is comparable to the FLCOX Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of HLIEX and FLCOX, 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

HLIEX vs. FLCOX - Drawdown Comparison

The maximum HLIEX drawdown since its inception was -50.33%, which is greater than FLCOX's maximum drawdown of -38.28%. Use the drawdown chart below to compare losses from any high point for HLIEX and FLCOX.

Drawdown Indicators

	HLIEX	FLCOX	Difference
Max Drawdown Largest peak-to-trough decline	-50.33%	-38.28%	-12.05%
Max Drawdown (1Y) Largest decline over 1 year	-7.08%	-6.80%	-0.28%
Max Drawdown (3Y) Largest decline over 3 years	-14.19%	-15.60%	+1.41%
Max Drawdown (5Y) Largest decline over 5 years	-14.85%	-19.00%	+4.15%
Max Drawdown (10Y) Largest decline over 10 years	-36.89%	—	—
Current Drawdown Current decline from peak	-0.76%	-1.16%	+0.40%
Average Drawdown Average peak-to-trough decline	-6.36%	-4.43%	-1.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	1.63%	+0.22%

Volatility

HLIEX vs. FLCOX - Volatility Comparison

The current volatility for JPMorgan Equity Income Fund (HLIEX) is 3.42%, while Fidelity Large Cap Value Index Fund (FLCOX) has a volatility of 4.17%. This indicates that HLIEX experiences smaller price fluctuations and is considered to be less risky than FLCOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HLIEX	FLCOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.42%	4.17%	-0.75%
Volatility (6M) Calculated over the trailing 6-month period	8.08%	8.73%	-0.65%
Volatility (1Y) Calculated over the trailing 1-year period	10.61%	11.31%	-0.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.30%	14.87%	-0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.78%	17.63%	-0.85%

HLIEX vs. FLCOX - Expense Ratio Comparison

HLIEX has a 0.70% expense ratio, which is higher than FLCOX's 0.04% expense ratio.

Dividends

HLIEX vs. FLCOX - Dividend Comparison

HLIEX's dividend yield for the trailing twelve months is around 9.64%, more than FLCOX's 1.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLCOX Fidelity Large Cap Value Index Fund	1.31%	1.51%	1.92%	1.99%	2.01%	1.55%	2.28%	3.82%	2.79%	0.60%	0.00%	0.00%
HLIEX JPMorgan Equity Income Fund	9.64%	10.81%	14.41%	2.77%	3.67%	3.33%	1.82%	2.78%	5.12%	2.47%	2.45%	2.73%

Frequently Asked Questions

Can I hold both HLIEX and FLCOX in my portfolio?

With a correlation of 0.93, HLIEX and FLCOX 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, HLIEX or FLCOX?

FLCOX has higher volatility (4.17%) compared to HLIEX (3.42%). In terms of maximum drawdown, HLIEX dropped -50.33% vs FLCOX's -38.28%.

Which has better risk-adjusted returns?

FLCOX currently has the higher Sharpe Ratio (2.53 vs 2.24), 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.