JBALX vs. PDSYX

Last updated Jun 23, 2026

JBALX (JPMorgan Global Allocation Fund Class A) and PDSYX (Principal Diversified Select Real Asset Fund) are both Global Allocation funds. Over the past 5 years, JBALX returned 8.94%/yr vs 3.77%/yr for PDSYX. A 0.63 correlation means they provide meaningful diversification when combined. JBALX charges 0.96%/yr vs 1.20%/yr for PDSYX.

Performance

JBALX vs. PDSYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Global Allocation Fund Class A (JBALX) and Principal Diversified Select Real Asset Fund (PDSYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JBALX achieves a 3.95% return, which is significantly lower than PDSYX's 4.52% return.

JBALX

• 1D: 0.91%
• 1M: 1.52%
• YTD: 3.95%
• 6M: 3.91%
• 1Y: 14.87%
• 3Y*: 15.37%
• 5Y*: 8.94%
• 10Y*: 11.14%

PDSYX

• 1D: -0.11%
• 1M: -0.79%
• YTD: 4.52%
• 6M: 4.65%
• 1Y: 8.81%
• 3Y*: 5.70%
• 5Y*: 3.77%
• 10Y*: —

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

JBALX vs. PDSYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
JBALX JPMorgan Global Allocation Fund Class A	3.95%	15.00%	20.78%	15.45%	-16.56%	17.28%	14.40%	6.81%
PDSYX Principal Diversified Select Real Asset Fund	4.52%	7.90%	3.65%	2.45%	-5.36%	14.81%	2.43%	4.08%

Correlation

The correlation between JBALX and PDSYX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (All Time) Calculated using the full available price history since Jul 11, 2019	0.63

Over the past year, the correlation between JBALX and PDSYX has dropped to 0.36 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.

Return for Risk

JBALX vs. PDSYX — Risk / Return Rank

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

JBALX

JBALX Risk / Return Rank: 34
JBALX Sharpe Ratio Rank: 35
JBALX Sortino Ratio Rank: 35
JBALX Omega Ratio Rank: 34
JBALX Calmar Ratio Rank: 27
JBALX Martin Ratio Rank: 37

PDSYX

PDSYX Risk / Return Rank: 92
PDSYX Sharpe Ratio Rank: 93
PDSYX Sortino Ratio Rank: 94
PDSYX Omega Ratio Rank: 88
PDSYX Calmar Ratio Rank: 91
PDSYX Martin Ratio Rank: 94

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.

JBALX vs. PDSYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Global Allocation Fund Class A (JBALX) and Principal Diversified Select Real Asset Fund (PDSYX). 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.

	JBALX	PDSYX	Difference
Sharpe ratio: Return per unit of total volatility	1.60	2.91	-1.32
Sortino ratio: Return per unit of downside risk	2.29	4.54	-2.25
Omega ratio: Gain probability vs. loss probability	1.29	1.58	-0.30
Calmar ratio: Return relative to maximum drawdown	1.81	4.45	-2.64
Martin ratio: Return relative to average drawdown	7.72	18.88	-11.16

JBALX vs. PDSYX - Sharpe Ratio Comparison

The current JBALX Sharpe Ratio is 1.60, which is lower than the PDSYX Sharpe Ratio of 2.91. The chart below compares the historical Sharpe Ratios of JBALX and PDSYX, 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

JBALX vs. PDSYX - Drawdown Comparison

The maximum JBALX drawdown since its inception was -33.98%, which is greater than PDSYX's maximum drawdown of -30.01%. Use the drawdown chart below to compare losses from any high point for JBALX and PDSYX.

Drawdown Indicators

	JBALX	PDSYX	Difference
Max Drawdown Largest peak-to-trough decline	-33.98%	-30.01%	-3.97%
Max Drawdown (1Y) Largest decline over 1 year	-8.12%	-1.98%	-6.14%
Max Drawdown (3Y) Largest decline over 3 years	-11.93%	-5.84%	-6.09%
Max Drawdown (5Y) Largest decline over 5 years	-21.50%	-10.95%	-10.55%
Max Drawdown (10Y) Largest decline over 10 years	-22.49%	—	—
Current Drawdown Current decline from peak	-0.16%	-0.86%	+0.70%
Average Drawdown Average peak-to-trough decline	-5.42%	-4.32%	-1.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	0.47%	+1.43%

Volatility

JBALX vs. PDSYX - Volatility Comparison

JPMorgan Global Allocation Fund Class A (JBALX) has a higher volatility of 3.58% compared to Principal Diversified Select Real Asset Fund (PDSYX) at 0.76%. This indicates that JBALX's price experiences larger fluctuations and is considered to be riskier than PDSYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JBALX	PDSYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.58%	0.76%	+2.82%
Volatility (6M) Calculated over the trailing 6-month period	7.57%	2.36%	+5.21%
Volatility (1Y) Calculated over the trailing 1-year period	9.19%	3.03%	+6.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.41%	6.29%	+5.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.28%	8.69%	+2.59%

JBALX vs. PDSYX - Expense Ratio Comparison

JBALX has a 0.96% expense ratio, which is lower than PDSYX's 1.20% expense ratio.

Dividends

JBALX vs. PDSYX - Dividend Comparison

JBALX's dividend yield for the trailing twelve months is around 8.51%, more than PDSYX's 1.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JBALX JPMorgan Global Allocation Fund Class A	8.51%	8.80%	11.84%	2.28%	2.00%	4.54%	2.54%	2.33%	7.14%	4.69%	4.55%	5.87%
PDSYX Principal Diversified Select Real Asset Fund	1.57%	1.85%	2.18%	2.06%	1.58%	7.46%	2.70%	1.21%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JBALX and PDSYX in my portfolio?

JBALX and PDSYX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JBALX or PDSYX?

JBALX has higher volatility (3.58%) compared to PDSYX (0.76%). In terms of maximum drawdown, JBALX dropped -33.98% vs PDSYX's -30.01%.

Which has better risk-adjusted returns?

PDSYX currently has the higher Sharpe Ratio (2.91 vs 1.60), 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.