HWGIX vs. GAOAX

Last updated Jun 3, 2026

HWGIX (Hotchkis & Wiley Global Value Fund) and GAOAX (JPMorgan Global Allocation Fund A) are both Global Equities funds. Over the past 10 years, HWGIX returned 11.05%/yr vs 6.47%/yr for GAOAX. Their correlation of 0.82 suggests significant overlap in exposure. HWGIX charges 0.95%/yr vs 1.04%/yr for GAOAX.

Performance

HWGIX vs. GAOAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hotchkis & Wiley Global Value Fund (HWGIX) and JPMorgan Global Allocation Fund A (GAOAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HWGIX achieves a 7.97% return, which is significantly higher than GAOAX's 5.09% return. Over the past 10 years, HWGIX has outperformed GAOAX with an annualized return of 11.05%, while GAOAX has yielded a comparatively lower 6.47% annualized return.

HWGIX

• 1D: 1.32%
• 1M: 4.76%
• YTD: 7.97%
• 6M: 13.02%
• 1Y: 20.95%
• 3Y*: 19.69%
• 5Y*: 10.61%
• 10Y*: 11.05%

GAOAX

• 1D: 0.18%
• 1M: 2.82%
• YTD: 5.09%
• 6M: 6.05%
• 1Y: 15.18%
• 3Y*: 11.68%
• 5Y*: 2.91%
• 10Y*: 6.47%

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

HWGIX vs. GAOAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HWGIX Hotchkis & Wiley Global Value Fund	7.97%	23.76%	9.46%	28.00%	-11.65%	26.67%	-0.59%	24.57%	-16.08%	16.73%
GAOAX JPMorgan Global Allocation Fund A	5.09%	14.68%	7.91%	12.69%	-18.74%	3.60%	15.29%	15.95%	-6.07%	16.82%

Correlation

The correlation between HWGIX and GAOAX is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jul 2, 2013	0.82

The correlation between HWGIX and GAOAX has been stable across timeframes, ranging from 0.73 to 0.82 - a consistent structural relationship.

Return for Risk

HWGIX vs. GAOAX — Risk / Return Rank

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

HWGIX

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

GAOAX

GAOAX Risk / Return Rank: 29
GAOAX Sharpe Ratio Rank: 32
GAOAX Sortino Ratio Rank: 30
GAOAX Omega Ratio Rank: 32
GAOAX Calmar Ratio Rank: 21
GAOAX Martin Ratio Rank: 29

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.

HWGIX vs. GAOAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hotchkis & Wiley Global Value Fund (HWGIX) and JPMorgan Global Allocation Fund A (GAOAX). 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.

	HWGIX	GAOAX	Difference
Sharpe ratio Return per unit of total volatility	1.71	1.64	+0.08
Sortino ratio Return per unit of downside risk	2.49	2.30	+0.19
Omega ratio Gain probability vs. loss probability	1.30	1.30	0.00
Calmar ratio Return relative to maximum drawdown	2.22	1.75	+0.47
Martin ratio Return relative to average drawdown	7.48	7.00	+0.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HWGIX vs. GAOAX - Sharpe Ratio Comparison

The current HWGIX Sharpe Ratio is 1.71, which is comparable to the GAOAX Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of HWGIX and GAOAX, 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

	HWGIX	GAOAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.71	1.64	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.26	+0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.60	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.60	-0.06

Drawdowns

HWGIX vs. GAOAX - Drawdown Comparison

The maximum HWGIX drawdown since its inception was -46.71%, which is greater than GAOAX's maximum drawdown of -29.02%. Use the drawdown chart below to compare losses from any high point for HWGIX and GAOAX.

Drawdown Indicators

	HWGIX	GAOAX	Difference
Max Drawdown Largest peak-to-trough decline	-46.71%	-29.02%	-17.69%
Max Drawdown (1Y) Largest decline over 1 year	-9.83%	-8.95%	-0.88%
Max Drawdown (3Y) Largest decline over 3 years	-14.17%	-10.87%	-3.30%
Max Drawdown (5Y) Largest decline over 5 years	-28.63%	-29.02%	+0.39%
Max Drawdown (10Y) Largest decline over 10 years	-46.71%	-29.02%	-17.69%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.69%	-5.96%	-0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	2.24%	+0.68%

Volatility

HWGIX vs. GAOAX - Volatility Comparison

Hotchkis & Wiley Global Value Fund (HWGIX) has a higher volatility of 2.99% compared to JPMorgan Global Allocation Fund A (GAOAX) at 2.81%. This indicates that HWGIX's price experiences larger fluctuations and is considered to be riskier than GAOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HWGIX	GAOAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.99%	2.81%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	9.17%	7.96%	+1.21%
Volatility (1Y) Calculated over the trailing 1-year period	12.60%	9.72%	+2.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.47%	11.10%	+6.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.67%	10.87%	+9.80%

HWGIX vs. GAOAX - Expense Ratio Comparison

HWGIX has a 0.95% expense ratio, which is lower than GAOAX's 1.04% expense ratio.

Dividends

HWGIX vs. GAOAX - Dividend Comparison

HWGIX's dividend yield for the trailing twelve months is around 8.92%, less than GAOAX's 9.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GAOAX JPMorgan Global Allocation Fund A	9.18%	10.15%	2.34%	0.00%	4.62%	4.61%	1.54%	2.43%	2.52%	2.95%	2.59%	0.96%
HWGIX Hotchkis & Wiley Global Value Fund	8.92%	9.63%	15.10%	11.01%	3.92%	0.68%	1.49%	2.56%	10.34%	5.50%	0.80%	7.06%

Frequently Asked Questions

Can I hold both HWGIX and GAOAX in my portfolio?

HWGIX and GAOAX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HWGIX or GAOAX?

HWGIX has higher volatility (2.99%) compared to GAOAX (2.81%). In terms of maximum drawdown, HWGIX dropped -46.71% vs GAOAX's -29.02%.

Which has better risk-adjusted returns?

HWGIX currently has the higher Sharpe Ratio (1.71 vs 1.64), 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.