HMXIX vs. JHQAX
HMXIX (AlphaCentric Premium Opportunity Fund) and JHQAX (JPMorgan Hedged Equity Fund) are both Options Trading funds. Over the past 10 years, HMXIX returned 7.53%/yr vs 8.51%/yr for JHQAX. Their 0.66 correlation means they have sometimes moved together and sometimes differently. HMXIX charges 1.99%/yr vs 0.83%/yr for JHQAX.
Performance
HMXIX vs. JHQAX - Performance Comparison
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Returns By Period
In the year-to-date period, HMXIX achieves a 7.85% return, which is significantly higher than JHQAX's -1.34% return. Over the past 10 years, HMXIX has underperformed JHQAX with an annualized return of 7.53%, while JHQAX has yielded a comparatively higher 8.51% annualized return.
HMXIX
- 1D
- 2.00%
- 1M
- 0.32%
- 6M
- 7.67%
- YTD
- 7.85%
- 1Y
- 16.37%
- 3Y*
- 9.20%
- 5Y*
- 5.76%
- 10Y*
- 7.53%
- ALL TIME*
- 8.10%
JHQAX
- 1D
- 1.25%
- 1M
- 0.55%
- 6M
- -2.06%
- YTD
- -1.34%
- 1Y
- 5.09%
- 3Y*
- 7.79%
- 5Y*
- 6.41%
- 10Y*
- 8.51%
- ALL TIME*
- 7.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
HMXIX vs. JHQAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HMXIX AlphaCentric Premium Opportunity Fund | 7.85% | 8.73% | 8.86% | 13.36% | -10.62% | 7.82% | 27.93% | 16.54% | -5.61% | 2.71% |
JHQAX JPMorgan Hedged Equity Fund | -1.34% | 7.22% | 17.93% | 15.78% | -8.27% | 13.13% | 13.77% | 13.38% | -0.93% | 12.45% |
Correlation
The correlation between HMXIX and JHQAX is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.85 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.88 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.77 |
Correlation (All Time) Calculated using the full available price history since May 30, 2014 | 0.66 |
The correlation between HMXIX and JHQAX shifts across timeframes, from 0.66 (all time) to 0.88 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HMXIX vs. JHQAX — Risk / Return Rank
HMXIX
JHQAX
HMXIX vs. JHQAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AlphaCentric Premium Opportunity Fund (HMXIX) and JPMorgan Hedged Equity Fund (JHQAX). 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.
| HMXIX | JHQAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.12 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 0.55 | +1.00 |
| Martin ratioReturn relative to average drawdown | 5.03 | 1.64 | +3.39 |
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Drawdowns
HMXIX vs. JHQAX - Drawdown Comparison
The maximum HMXIX drawdown since its inception was -15.80%, smaller than the maximum JHQAX drawdown of -18.82%. Use the drawdown chart below to compare losses from any high point for HMXIX and JHQAX.
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Drawdown Indicators
| HMXIX | JHQAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.80% | -18.82% | +3.02% |
Max Drawdown (1Y)Largest decline over 1 year | -8.69% | -6.91% | -1.78% |
Max Drawdown (3Y)Largest decline over 3 years | -15.80% | -13.11% | -2.69% |
Max Drawdown (5Y)Largest decline over 5 years | -15.80% | -14.48% | -1.32% |
Max Drawdown (10Y)Largest decline over 10 years | -15.80% | -18.82% | +3.02% |
Current DrawdownCurrent decline from peak | -2.20% | -2.61% | +0.41% |
Average DrawdownAverage peak-to-trough decline | -3.44% | -2.23% | -1.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 2.32% | +0.36% |
Volatility
HMXIX vs. JHQAX - Volatility Comparison
AlphaCentric Premium Opportunity Fund (HMXIX) has a higher volatility of 4.42% compared to JPMorgan Hedged Equity Fund (JHQAX) at 2.24%. This indicates that HMXIX's price experiences larger fluctuations and is considered to be riskier than JHQAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HMXIX | JHQAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.42% | 2.24% | +2.18% |
Volatility (6M)Calculated over the trailing 6-month period | 10.37% | 4.50% | +5.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.72% | 6.55% | +7.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.96% | 8.89% | +2.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.73% | 9.28% | +1.45% |
HMXIX vs. JHQAX - Expense Ratio Comparison
HMXIX has a 1.99% expense ratio, which is higher than JHQAX's 0.83% expense ratio.
Dividends
HMXIX vs. JHQAX - Dividend Comparison
HMXIX's dividend yield for the trailing twelve months is around 5.68%, more than JHQAX's 0.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HMXIX AlphaCentric Premium Opportunity Fund | 5.68% | 6.13% | 2.17% | 0.00% | 0.00% | 4.78% | 2.26% | 0.00% | 0.00% | 0.47% | 0.16% | 0.00% |
JHQAX JPMorgan Hedged Equity Fund | 0.30% | 0.41% | 0.51% | 0.74% | 0.74% | 0.50% | 0.89% | 1.18% | 0.92% | 0.76% | 1.11% | 0.97% |
Frequently Asked Questions
HMXIX and JHQAX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HMXIX has higher volatility (4.42%) compared to JHQAX (2.24%). In terms of maximum drawdown, HMXIX dropped -15.80% vs JHQAX's -18.82%.
HMXIX currently has the higher Sharpe Ratio (0.98 vs 0.58), 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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