HLIEX vs. OHYFX

Last updated Jun 25, 2026

HLIEX (JPMorgan Equity Income Fund) and OHYFX (JPMorgan High Yield Fund) are both mutual funds - HLIEX is a Large Cap Value Equities fund managed by JPMorgan, while OHYFX is a High Yield Bonds fund managed by JPMorgan. Over the past 10 years, HLIEX returned 12.53%/yr vs 5.15%/yr for OHYFX. At a 0.34 correlation, their price movements are largely independent. HLIEX charges 0.70%/yr vs 0.65%/yr for OHYFX.

Performance

HLIEX vs. OHYFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Income Fund (HLIEX) and JPMorgan High Yield Fund (OHYFX). 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 higher than OHYFX's 1.53% return. Over the past 10 years, HLIEX has outperformed OHYFX with an annualized return of 12.53%, while OHYFX has yielded a comparatively lower 5.15% annualized 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%

OHYFX

• 1D: -0.15%
• 1M: 0.45%
• YTD: 1.53%
• 6M: 1.78%
• 1Y: 6.38%
• 3Y*: 8.89%
• 5Y*: 4.05%
• 10Y*: 5.15%

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

HLIEX vs. OHYFX - 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%
OHYFX JPMorgan High Yield Fund	1.53%	8.37%	8.64%	11.80%	-10.32%	6.76%	2.85%	13.47%	-2.84%	6.66%

Correlation

The correlation between HLIEX and OHYFX is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.50
Correlation (All Time) Calculated using the full available price history since Nov 13, 1998	0.34

Over the past year, HLIEX and OHYFX have become more correlated (0.55) than their long-term average of 0.34, meaning their price movements have been converging.

Return for Risk

HLIEX vs. OHYFX — 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

OHYFX

OHYFX Risk / Return Rank: 86
OHYFX Sharpe Ratio Rank: 87
OHYFX Sortino Ratio Rank: 89
OHYFX Omega Ratio Rank: 90
OHYFX Calmar Ratio Rank: 72
OHYFX Martin Ratio Rank: 91

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. OHYFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Income Fund (HLIEX) and JPMorgan High Yield Fund (OHYFX). 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	OHYFX	Difference
Sharpe ratio: Return per unit of total volatility	2.24	2.64	-0.40
Sortino ratio: Return per unit of downside risk	3.18	3.96	-0.78
Omega ratio: Gain probability vs. loss probability	1.40	1.62	-0.21
Calmar ratio: Return relative to maximum drawdown	3.35	3.13	+0.22
Martin ratio: Return relative to average drawdown	12.77	17.21	-4.44

HLIEX vs. OHYFX - Sharpe Ratio Comparison

The current HLIEX Sharpe Ratio is 2.24, which is comparable to the OHYFX Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of HLIEX and OHYFX, 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. OHYFX - Drawdown Comparison

The maximum HLIEX drawdown since its inception was -50.33%, which is greater than OHYFX's maximum drawdown of -29.34%. Use the drawdown chart below to compare losses from any high point for HLIEX and OHYFX.

Drawdown Indicators

	HLIEX	OHYFX	Difference
Max Drawdown Largest peak-to-trough decline	-50.33%	-29.34%	-20.99%
Max Drawdown (1Y) Largest decline over 1 year	-7.08%	-2.10%	-4.98%
Max Drawdown (3Y) Largest decline over 3 years	-14.19%	-3.29%	-10.90%
Max Drawdown (5Y) Largest decline over 5 years	-14.85%	-13.77%	-1.08%
Max Drawdown (10Y) Largest decline over 10 years	-36.89%	-23.27%	-13.62%
Current Drawdown Current decline from peak	-0.76%	-0.15%	-0.61%
Average Drawdown Average peak-to-trough decline	-6.36%	-2.44%	-3.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	0.38%	+1.47%

Volatility

HLIEX vs. OHYFX - Volatility Comparison

JPMorgan Equity Income Fund (HLIEX) has a higher volatility of 3.42% compared to JPMorgan High Yield Fund (OHYFX) at 0.69%. This indicates that HLIEX's price experiences larger fluctuations and is considered to be riskier than OHYFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HLIEX	OHYFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.42%	0.69%	+2.73%
Volatility (6M) Calculated over the trailing 6-month period	8.08%	2.02%	+6.06%
Volatility (1Y) Calculated over the trailing 1-year period	10.61%	2.49%	+8.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.30%	4.74%	+9.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.78%	5.55%	+11.23%

HLIEX vs. OHYFX - Expense Ratio Comparison

HLIEX has a 0.70% expense ratio, which is higher than OHYFX's 0.65% expense ratio.

Dividends

HLIEX vs. OHYFX - Dividend Comparison

HLIEX's dividend yield for the trailing twelve months is around 9.64%, more than OHYFX's 5.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
OHYFX JPMorgan High Yield Fund	5.90%	6.46%	7.18%	6.46%	6.02%	4.74%	4.63%	5.75%	6.19%	5.67%	5.51%	6.23%

Frequently Asked Questions

Can I hold both HLIEX and OHYFX in my portfolio?

HLIEX and OHYFX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HLIEX or OHYFX?

HLIEX has higher volatility (3.42%) compared to OHYFX (0.69%). In terms of maximum drawdown, HLIEX dropped -50.33% vs OHYFX's -29.34%.

Which has better risk-adjusted returns?

OHYFX currently has the higher Sharpe Ratio (2.64 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.