JBALX vs. VTIVX

Last updated Jun 4, 2026

JBALX (JPMorgan Global Allocation Fund Class A) and VTIVX (Vanguard Target Retirement 2045 Fund) are both mutual funds - JBALX is a Global Allocation fund managed by JPMorgan, while VTIVX is a Target Retirement Date fund managed by Vanguard. Over the past 10 years, JBALX returned 11.06%/yr vs 11.35%/yr for VTIVX. Their correlation of 0.93 suggests significant overlap in exposure. JBALX charges 0.96%/yr vs 0.08%/yr for VTIVX.

Performance

JBALX vs. VTIVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Global Allocation Fund Class A (JBALX) and Vanguard Target Retirement 2045 Fund (VTIVX). 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 VTIVX's 11.08% return. Both investments have delivered pretty close results over the past 10 years, with JBALX having a 11.06% annualized return and VTIVX not far ahead at 11.35%.

JBALX

• 1D: 0.00%
• 1M: 3.16%
• YTD: 3.95%
• 6M: 3.97%
• 1Y: 15.23%
• 3Y*: 15.83%
• 5Y*: 9.08%
• 10Y*: 11.06%

VTIVX

• 1D: 0.31%
• 1M: 4.78%
• YTD: 11.08%
• 6M: 11.92%
• 1Y: 26.04%
• 3Y*: 18.49%
• 5Y*: 9.63%
• 10Y*: 11.35%

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

JBALX vs. VTIVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JBALX JPMorgan Global Allocation Fund Class A	3.95%	15.00%	20.78%	15.45%	-16.56%	17.28%	14.40%	21.88%	0.71%	17.83%
VTIVX Vanguard Target Retirement 2045 Fund	11.08%	20.01%	13.68%	19.72%	-17.38%	16.16%	16.31%	24.94%	-7.89%	19.16%

Correlation

The correlation between JBALX and VTIVX is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Dec 1, 2005	0.93

The correlation between JBALX and VTIVX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

JBALX vs. VTIVX — Risk / Return Rank

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

JBALX

JBALX Risk / Return Rank: 36
JBALX Sharpe Ratio Rank: 38
JBALX Sortino Ratio Rank: 39
JBALX Omega Ratio Rank: 37
JBALX Calmar Ratio Rank: 27
JBALX Martin Ratio Rank: 38

VTIVX

VTIVX Risk / Return Rank: 71
VTIVX Sharpe Ratio Rank: 75
VTIVX Sortino Ratio Rank: 71
VTIVX Omega Ratio Rank: 68
VTIVX Calmar Ratio Rank: 68
VTIVX Martin Ratio Rank: 74

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. VTIVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Global Allocation Fund Class A (JBALX) and Vanguard Target Retirement 2045 Fund (VTIVX). 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.

	JBALX	VTIVX	Difference
Sharpe ratio: Return per unit of total volatility	1.81	2.51	-0.71
Sortino ratio: Return per unit of downside risk	2.59	3.50	-0.91
Omega ratio: Gain probability vs. loss probability	1.33	1.46	-0.14
Calmar ratio: Return relative to maximum drawdown	1.93	3.18	-1.24
Martin ratio: Return relative to average drawdown	8.35	14.06	-5.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JBALX vs. VTIVX - Sharpe Ratio Comparison

The current JBALX Sharpe Ratio is 1.81, which is comparable to the VTIVX Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of JBALX and VTIVX, 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

	JBALX	VTIVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	2.51	-0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.72	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.99	0.77	+0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.55	+0.12

Drawdowns

JBALX vs. VTIVX - Drawdown Comparison

The maximum JBALX drawdown since its inception was -33.98%, smaller than the maximum VTIVX drawdown of -51.69%. Use the drawdown chart below to compare losses from any high point for JBALX and VTIVX.

Drawdown Indicators

	JBALX	VTIVX	Difference
Max Drawdown Largest peak-to-trough decline	-33.98%	-51.69%	+17.71%
Max Drawdown (1Y) Largest decline over 1 year	-8.12%	-8.30%	+0.18%
Max Drawdown (3Y) Largest decline over 3 years	-11.93%	-13.40%	+1.47%
Max Drawdown (5Y) Largest decline over 5 years	-21.50%	-25.10%	+3.60%
Max Drawdown (10Y) Largest decline over 10 years	-22.49%	-31.42%	+8.93%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.43%	-6.33%	+0.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	1.87%	0.00%

Volatility

JBALX vs. VTIVX - Volatility Comparison

The current volatility for JPMorgan Global Allocation Fund Class A (JBALX) is 2.45%, while Vanguard Target Retirement 2045 Fund (VTIVX) has a volatility of 3.18%. This indicates that JBALX experiences smaller price fluctuations and is considered to be less risky than VTIVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JBALX	VTIVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.45%	3.18%	-0.73%
Volatility (6M) Calculated over the trailing 6-month period	6.91%	8.37%	-1.46%
Volatility (1Y) Calculated over the trailing 1-year period	8.70%	10.50%	-1.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.33%	13.49%	-2.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.24%	14.79%	-3.55%

JBALX vs. VTIVX - Expense Ratio Comparison

JBALX has a 0.96% expense ratio, which is higher than VTIVX's 0.08% expense ratio.

Dividends

JBALX vs. VTIVX - Dividend Comparison

JBALX's dividend yield for the trailing twelve months is around 8.51%, more than VTIVX's 2.25% 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%
VTIVX Vanguard Target Retirement 2045 Fund	2.25%	2.50%	2.36%	2.27%	2.75%	15.40%	1.90%	2.23%	2.52%	0.04%	2.47%	3.29%

Frequently Asked Questions

Can I hold both JBALX and VTIVX in my portfolio?

With a correlation of 0.92, JBALX and VTIVX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, JBALX or VTIVX?

VTIVX has higher volatility (3.18%) compared to JBALX (2.45%). In terms of maximum drawdown, JBALX dropped -33.98% vs VTIVX's -51.69%.

Which has better risk-adjusted returns?

VTIVX currently has the higher Sharpe Ratio (2.51 vs 1.80), 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.