IVVD vs. JHEQX

Last updated Aug 4, 2026

IVVD (Invivyd Inc.) is a stock, while JHEQX (JPMorgan Hedged Equity Fund Class I) is Equity Hedged fund managed by JPMorgan. Over the past 3 years, IVVD returned -27.87%/yr vs 8.26%/yr for JHEQX. Their 0.26 correlation means their historical movements had little consistent relationship.

Performance

IVVD vs. JHEQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invivyd Inc. (IVVD) and JPMorgan Hedged Equity Fund Class I (JHEQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVVD achieves a -77.67% return, which is significantly lower than JHEQX's -0.72% return.

IVVD

• 1D: 3.10%
• 1M: -38.29%
• 6M: -68.30%
• YTD: -77.67%
• 1Y: -24.68%
• 3Y*: -27.87%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -51.77%

JHEQX

• 1D: 0.49%
• 1M: 1.04%
• 6M: -1.77%
• YTD: -0.72%
• 1Y: 5.86%
• 3Y*: 8.26%
• 5Y*: 6.78%
• 10Y*: 8.84%
• ALL TIME*: 7.94%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IVVD Invivyd Inc.	$1.97M	$2.44M	$4.19M
JHEQX JPMorgan Hedged Equity Fund Class I	$0.00	$0.00	$0.00

IVVD vs. JHEQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IVVD Invivyd Inc.	-77.67%	457.44%	-88.75%	162.67%	-79.34%	-65.43%
JHEQX JPMorgan Hedged Equity Fund Class I	-0.72%	7.49%	18.23%	16.07%	-8.05%	2.69%

Correlation

The correlation between IVVD and JHEQX is 0.23, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.23
Correlation (3Y) Balances recent behavior with more history.	0.23
Correlation (All Time) Calculated using the full available price history since Aug 6, 2021	0.26

Return for Risk

IVVD vs. JHEQX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IVVD

IVVD Risk / Return Rank: 41
IVVD Sharpe Ratio Rank: 36
IVVD Sortino Ratio Rank: 54
IVVD Omega Ratio Rank: 50
IVVD Calmar Ratio Rank: 33
IVVD Martin Ratio Rank: 32

JHEQX

JHEQX Risk / Return Rank: 16
JHEQX Sharpe Ratio Rank: 17
JHEQX Sortino Ratio Rank: 16
JHEQX Omega Ratio Rank: 19
JHEQX Calmar Ratio Rank: 13
JHEQX Martin Ratio Rank: 14

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IVVD vs. JHEQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invivyd Inc. (IVVD) and JPMorgan Hedged Equity Fund Class I (JHEQX). 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.

	IVVD	JHEQX	Difference
Sharpe ratio: Return per unit of total volatility	-0.17	0.73	-0.90
Sortino ratio: Return per unit of downside risk	0.80	1.04	-0.24
Omega ratio: Gain probability vs. loss probability	1.09	1.14	-0.06
Calmar ratio: Return relative to maximum drawdown	-0.30	0.69	-1.00
Martin ratio: Return relative to average drawdown	-0.58	2.09	-2.67

IVVD vs. JHEQX - Sharpe Ratio Comparison

The current IVVD Sharpe Ratio is -0.17, which is lower than the JHEQX Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of IVVD and JHEQX, 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

IVVD vs. JHEQX - Drawdown Comparison

The maximum IVVD drawdown since its inception was -99.36%, which is greater than JHEQX's maximum drawdown of -18.85%. Use the drawdown chart below to compare losses from any high point for IVVD and JHEQX.

Drawdown Indicators

	IVVD	JHEQX	Difference
Max Drawdown Largest peak-to-trough decline	-99.36%	-18.85%	-80.51%
Max Drawdown (1Y) Largest decline over 1 year	-81.42%	-6.88%	-74.54%
Max Drawdown (3Y) Largest decline over 3 years	-92.90%	-13.07%	-79.83%
Max Drawdown (5Y) Largest decline over 5 years	—	-14.34%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-18.85%	—
Current Drawdown Current decline from peak	-99.02%	-2.02%	-97.00%
Average Drawdown Average peak-to-trough decline	-91.30%	-2.19%	-89.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	42.25%	2.28%	+39.97%

Volatility

IVVD vs. JHEQX - Volatility Comparison

Invivyd Inc. (IVVD) has a higher volatility of 26.85% compared to JPMorgan Hedged Equity Fund Class I (JHEQX) at 2.27%. This indicates that IVVD's price experiences larger fluctuations and is considered to be riskier than JHEQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVVD	JHEQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.85%	2.27%	+24.58%
Volatility (6M) Calculated over the trailing 6-month period	68.51%	4.52%	+63.99%
Volatility (1Y) Calculated over the trailing 1-year period	142.08%	6.59%	+135.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	176.91%	8.89%	+168.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	176.91%	9.28%	+167.63%

Dividends

IVVD vs. JHEQX - Dividend Comparison

IVVD has not paid dividends to shareholders, while JHEQX's dividend yield for the trailing twelve months is around 0.56%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVVD Invivyd Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JHEQX JPMorgan Hedged Equity Fund Class I	0.56%	0.65%	0.75%	0.98%	0.99%	0.71%	1.11%	1.11%	1.13%	0.99%	1.35%	1.21%

Frequently Asked Questions

Can I hold both IVVD and JHEQX in my portfolio?

IVVD and JHEQX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IVVD or JHEQX?

IVVD has higher volatility (26.85%) compared to JHEQX (2.27%). In terms of maximum drawdown, IVVD dropped -99.36% vs JHEQX's -18.85%.

Which has better risk-adjusted returns?

JHEQX currently has the higher Sharpe Ratio (0.73 vs -0.17), 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.