HLIPX vs. FIXD

Last updated Jun 6, 2026

HLIPX (JPMorgan Core Plus Bond Fund) and FIXD (First Trust Smith Opportunistic Fixed Income ETF) are both Intermediate Core-Plus Bond funds. Over the past 5 years, HLIPX returned 0.82%/yr vs -0.41%/yr for FIXD. Their correlation of 0.89 suggests significant overlap in exposure. HLIPX charges 0.46%/yr vs 0.65%/yr for FIXD.

Performance

HLIPX vs. FIXD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Core Plus Bond Fund (HLIPX) and First Trust Smith Opportunistic Fixed Income ETF (FIXD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HLIPX achieves a 0.44% return, which is significantly higher than FIXD's -0.13% return.

HLIPX

• 1D: 0.14%
• 1M: -0.14%
• YTD: 0.44%
• 6M: 0.73%
• 1Y: 5.66%
• 3Y*: 4.84%
• 5Y*: 0.82%
• 10Y*: 2.34%

FIXD

• 1D: -0.41%
• 1M: -0.50%
• YTD: -0.13%
• 6M: -0.11%
• 1Y: 4.91%
• 3Y*: 3.76%
• 5Y*: -0.41%
• 10Y*: —

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

HLIPX vs. FIXD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HLIPX JPMorgan Core Plus Bond Fund	0.44%	7.98%	2.64%	6.38%	-12.69%	-0.30%	7.93%	8.73%	0.01%	3.81%
FIXD First Trust Smith Opportunistic Fixed Income ETF	-0.13%	7.95%	0.75%	5.72%	-15.00%	-1.07%	8.99%	10.56%	-0.00%	3.50%

Correlation

The correlation between HLIPX and FIXD is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Feb 16, 2017	0.89

The correlation between HLIPX and FIXD has been stable across timeframes, ranging from 0.89 to 0.96 - a consistent structural relationship.

Return for Risk

HLIPX vs. FIXD — Risk / Return Rank

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

HLIPX

HLIPX Risk / Return Rank: 25
HLIPX Sharpe Ratio Rank: 26
HLIPX Sortino Ratio Rank: 27
HLIPX Omega Ratio Rank: 25
HLIPX Calmar Ratio Rank: 25
HLIPX Martin Ratio Rank: 22

FIXD

FIXD Risk / Return Rank: 33
FIXD Sharpe Ratio Rank: 35
FIXD Sortino Ratio Rank: 34
FIXD Omega Ratio Rank: 32
FIXD Calmar Ratio Rank: 33
FIXD Martin Ratio Rank: 32

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.

HLIPX vs. FIXD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Core Plus Bond Fund (HLIPX) and First Trust Smith Opportunistic Fixed Income ETF (FIXD). 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.

	HLIPX	FIXD	Difference
Sharpe ratio: Return per unit of total volatility	1.41	1.18	+0.23
Sortino ratio: Return per unit of downside risk	2.09	1.72	+0.36
Omega ratio: Gain probability vs. loss probability	1.25	1.20	+0.05
Calmar ratio: Return relative to maximum drawdown	1.77	1.54	+0.23
Martin ratio: Return relative to average drawdown	5.34	4.57	+0.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HLIPX vs. FIXD - Sharpe Ratio Comparison

The current HLIPX Sharpe Ratio is 1.41, which is comparable to the FIXD Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of HLIPX and FIXD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HLIPX	FIXD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.41	1.18	+0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.14	-0.06	+0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.10	0.35	+0.76

Drawdowns

HLIPX vs. FIXD - Drawdown Comparison

The maximum HLIPX drawdown since its inception was -16.91%, smaller than the maximum FIXD drawdown of -20.44%. Use the drawdown chart below to compare losses from any high point for HLIPX and FIXD.

Drawdown Indicators

	HLIPX	FIXD	Difference
Max Drawdown Largest peak-to-trough decline	-16.91%	-20.44%	+3.53%
Max Drawdown (1Y) Largest decline over 1 year	-3.05%	-3.21%	+0.16%
Max Drawdown (3Y) Largest decline over 3 years	-6.08%	-6.97%	+0.89%
Max Drawdown (5Y) Largest decline over 5 years	-16.91%	-20.44%	+3.53%
Max Drawdown (10Y) Largest decline over 10 years	-16.91%	—	—
Current Drawdown Current decline from peak	-1.69%	-3.84%	+2.15%
Average Drawdown Average peak-to-trough decline	-1.94%	-5.50%	+3.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.01%	1.08%	-0.07%

Volatility

HLIPX vs. FIXD - Volatility Comparison

The current volatility for JPMorgan Core Plus Bond Fund (HLIPX) is 1.27%, while First Trust Smith Opportunistic Fixed Income ETF (FIXD) has a volatility of 1.61%. This indicates that HLIPX experiences smaller price fluctuations and is considered to be less risky than FIXD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HLIPX	FIXD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.27%	1.61%	-0.34%
Volatility (6M) Calculated over the trailing 6-month period	2.77%	3.15%	-0.38%
Volatility (1Y) Calculated over the trailing 1-year period	3.87%	4.18%	-0.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.68%	6.58%	-0.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.64%	5.83%	-1.19%

HLIPX vs. FIXD - Expense Ratio Comparison

HLIPX has a 0.46% expense ratio, which is lower than FIXD's 0.65% expense ratio.

Dividends

HLIPX vs. FIXD - Dividend Comparison

HLIPX's dividend yield for the trailing twelve months is around 4.58%, less than FIXD's 4.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIXD First Trust Smith Opportunistic Fixed Income ETF	4.71%	4.50%	4.56%	3.93%	3.07%	1.74%	3.14%	5.10%	2.81%	1.95%	0.00%	0.00%
HLIPX JPMorgan Core Plus Bond Fund	4.58%	4.86%	4.88%	4.02%	3.36%	3.25%	4.36%	3.23%	3.08%	2.83%	2.77%	3.25%

Frequently Asked Questions

Can I hold both HLIPX and FIXD in my portfolio?

With a correlation of 0.95, HLIPX and FIXD 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, HLIPX or FIXD?

FIXD has higher volatility (1.61%) compared to HLIPX (1.27%). In terms of maximum drawdown, HLIPX dropped -16.91% vs FIXD's -20.44%.

Which has better risk-adjusted returns?

HLIPX currently has the higher Sharpe Ratio (1.41 vs 1.18), 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.