HLIPX vs. MDVAX
HLIPX (JPMorgan Core Plus Bond Fund) and MDVAX (MassMutual Diversified Bond Fund) are both Intermediate Core-Plus Bond funds. Over the past 10 years, HLIPX returned 2.31%/yr vs 2.16%/yr for MDVAX. Their correlation of 0.87 suggests significant overlap in exposure. HLIPX charges 0.46%/yr vs 1.07%/yr for MDVAX.
Performance
HLIPX vs. MDVAX - Performance Comparison
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Returns By Period
In the year-to-date period, HLIPX achieves a 1.00% return, which is significantly lower than MDVAX's 2.59% return. Over the past 10 years, HLIPX has outperformed MDVAX with an annualized return of 2.31%, while MDVAX has yielded a comparatively lower 2.16% annualized return.
HLIPX
- 1D
- 0.41%
- 1M
- 0.83%
- YTD
- 1.00%
- 6M
- 0.87%
- 1Y
- 5.07%
- 3Y*
- 5.03%
- 5Y*
- 0.88%
- 10Y*
- 2.31%
MDVAX
- 1D
- 0.12%
- 1M
- 0.61%
- YTD
- 2.59%
- 6M
- 2.82%
- 1Y
- 6.99%
- 3Y*
- 5.96%
- 5Y*
- 0.24%
- 10Y*
- 2.16%
HLIPX vs. MDVAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HLIPX JPMorgan Core Plus Bond Fund | 1.00% | 7.98% | 2.64% | 6.38% | -12.69% | -0.30% | 7.93% | 8.73% | 0.01% | 4.26% |
MDVAX MassMutual Diversified Bond Fund | 2.59% | 8.40% | 2.47% | 5.81% | -17.01% | 1.95% | 8.08% | 10.12% | -1.55% | 4.52% |
Correlation
The correlation between HLIPX and MDVAX is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 1999 | 0.87 |
The correlation between HLIPX and MDVAX shifts across timeframes, from 0.80 (1 year) to 0.91 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HLIPX vs. MDVAX — Risk / Return Rank
HLIPX
MDVAX
HLIPX vs. MDVAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Core Plus Bond Fund (HLIPX) and MassMutual Diversified Bond Fund (MDVAX). 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.
| HLIPX | MDVAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -1.76 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.46 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 3.23 | -1.56 |
| Martin ratioReturn relative to average drawdown | 4.72 | 13.62 | -8.90 |
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Drawdowns
HLIPX vs. MDVAX - Drawdown Comparison
The maximum HLIPX drawdown since its inception was -16.91%, smaller than the maximum MDVAX drawdown of -23.02%. Use the drawdown chart below to compare losses from any high point for HLIPX and MDVAX.
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Drawdown Indicators
| HLIPX | MDVAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.91% | -23.02% | +6.11% |
Max Drawdown (1Y)Largest decline over 1 year | -3.05% | -2.21% | -0.84% |
Max Drawdown (3Y)Largest decline over 3 years | -6.08% | -5.44% | -0.64% |
Max Drawdown (5Y)Largest decline over 5 years | -16.91% | -23.02% | +6.11% |
Max Drawdown (10Y)Largest decline over 10 years | -16.91% | -23.02% | +6.11% |
Current DrawdownCurrent decline from peak | -1.15% | -3.38% | +2.23% |
Average DrawdownAverage peak-to-trough decline | -1.94% | -3.47% | +1.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 0.52% | +0.56% |
Volatility
HLIPX vs. MDVAX - Volatility Comparison
JPMorgan Core Plus Bond Fund (HLIPX) has a higher volatility of 1.18% compared to MassMutual Diversified Bond Fund (MDVAX) at 0.74%. This indicates that HLIPX's price experiences larger fluctuations and is considered to be riskier than MDVAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HLIPX | MDVAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 0.74% | +0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 2.91% | 2.15% | +0.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.86% | 3.18% | +0.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.69% | 6.46% | -0.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.65% | 5.27% | -0.62% |
HLIPX vs. MDVAX - Expense Ratio Comparison
HLIPX has a 0.46% expense ratio, which is lower than MDVAX's 1.07% expense ratio.
Dividends
HLIPX vs. MDVAX - Dividend Comparison
HLIPX's dividend yield for the trailing twelve months is around 4.56%, more than MDVAX's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HLIPX JPMorgan Core Plus Bond Fund | 4.56% | 4.86% | 4.88% | 4.02% | 3.36% | 3.25% | 4.36% | 3.23% | 3.08% | 2.83% | 2.77% | 3.25% |
MDVAX MassMutual Diversified Bond Fund | 3.99% | 3.91% | 2.45% | 4.87% | 3.76% | 4.06% | 7.20% | 2.90% | 2.86% | 2.64% | 2.11% | 0.53% |
Frequently Asked Questions
HLIPX and MDVAX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HLIPX has higher volatility (1.18%) compared to MDVAX (0.74%). In terms of maximum drawdown, HLIPX dropped -16.91% vs MDVAX's -23.02%.
MDVAX currently has the higher Sharpe Ratio (2.26 vs 1.33), 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.
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