JBALX vs. VWELX

Last updated Jun 4, 2026

JBALX (JPMorgan Global Allocation Fund Class A) and VWELX (Vanguard Wellington Fund Investor Shares) are both mutual funds - JBALX is a Global Allocation fund managed by JPMorgan, while VWELX is a Diversified Portfolio fund actively managed by Vanguard. Over the past 10 years, JBALX returned 11.06%/yr vs 10.20%/yr for VWELX. Their correlation of 0.94 suggests significant overlap in exposure. JBALX charges 0.96%/yr vs 0.24%/yr for VWELX.

Performance

JBALX vs. VWELX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Global Allocation Fund Class A (JBALX) and Vanguard Wellington Fund Investor Shares (VWELX). 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 VWELX's 7.11% return. Over the past 10 years, JBALX has outperformed VWELX with an annualized return of 11.06%, while VWELX has yielded a comparatively lower 10.20% annualized return.

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%

VWELX

• 1D: 0.06%
• 1M: 3.86%
• YTD: 7.11%
• 6M: 7.36%
• 1Y: 21.02%
• 3Y*: 15.61%
• 5Y*: 8.97%
• 10Y*: 10.20%

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

JBALX vs. VWELX - 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%
VWELX Vanguard Wellington Fund Investor Shares	7.11%	16.54%	14.73%	14.29%	-14.36%	18.99%	10.57%	22.51%	-3.43%	13.98%

Correlation

The correlation between JBALX and VWELX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Dec 1, 2005	0.94

The correlation between JBALX and VWELX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Return for Risk

JBALX vs. VWELX — 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

VWELX

VWELX Risk / Return Rank: 74
VWELX Sharpe Ratio Rank: 78
VWELX Sortino Ratio Rank: 75
VWELX Omega Ratio Rank: 73
VWELX Calmar Ratio Rank: 68
VWELX Martin Ratio Rank: 78

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. VWELX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Global Allocation Fund Class A (JBALX) and Vanguard Wellington Fund Investor Shares (VWELX). 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	VWELX	Difference
Sharpe ratio: Return per unit of total volatility	1.81	2.56	-0.76
Sortino ratio: Return per unit of downside risk	2.59	3.60	-1.01
Omega ratio: Gain probability vs. loss probability	1.33	1.48	-0.15
Calmar ratio: Return relative to maximum drawdown	1.93	3.17	-1.24
Martin ratio: Return relative to average drawdown	8.35	14.69	-6.34
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. VWELX - Sharpe Ratio Comparison

The current JBALX Sharpe Ratio is 1.81, which is comparable to the VWELX Sharpe Ratio of 2.56. The chart below compares the historical Sharpe Ratios of JBALX and VWELX, 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	VWELX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	2.56	-0.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.81	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.99	0.89	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.84	-0.17

Drawdowns

JBALX vs. VWELX - Drawdown Comparison

The maximum JBALX drawdown since its inception was -33.98%, smaller than the maximum VWELX drawdown of -36.12%. Use the drawdown chart below to compare losses from any high point for JBALX and VWELX.

Drawdown Indicators

	JBALX	VWELX	Difference
Max Drawdown Largest peak-to-trough decline	-33.98%	-36.12%	+2.14%
Max Drawdown (1Y) Largest decline over 1 year	-8.12%	-6.78%	-1.34%
Max Drawdown (3Y) Largest decline over 3 years	-11.93%	-11.98%	+0.05%
Max Drawdown (5Y) Largest decline over 5 years	-21.50%	-20.88%	-0.62%
Max Drawdown (10Y) Largest decline over 10 years	-22.49%	-25.33%	+2.84%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.43%	-3.92%	-1.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	1.46%	+0.41%

Volatility

JBALX vs. VWELX - Volatility Comparison

JPMorgan Global Allocation Fund Class A (JBALX) and Vanguard Wellington Fund Investor Shares (VWELX) have volatilities of 2.45% and 2.52%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JBALX	VWELX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.45%	2.52%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	6.91%	6.67%	+0.24%
Volatility (1Y) Calculated over the trailing 1-year period	8.70%	8.38%	+0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.33%	11.13%	+0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.24%	11.53%	-0.29%

JBALX vs. VWELX - Expense Ratio Comparison

JBALX has a 0.96% expense ratio, which is higher than VWELX's 0.24% expense ratio.

Dividends

JBALX vs. VWELX - Dividend Comparison

JBALX's dividend yield for the trailing twelve months is around 8.51%, less than VWELX's 10.76% 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%
VWELX Vanguard Wellington Fund Investor Shares	10.76%	11.46%	10.76%	6.01%	8.19%	8.64%	7.77%	4.67%	9.49%	5.82%	4.44%	7.03%

Frequently Asked Questions

Can I hold both JBALX and VWELX in my portfolio?

With a correlation of 0.97, JBALX and VWELX 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 VWELX?

VWELX has higher volatility (2.52%) compared to JBALX (2.45%). In terms of maximum drawdown, JBALX dropped -33.98% vs VWELX's -36.12%.

Which has better risk-adjusted returns?

VWELX currently has the higher Sharpe Ratio (2.56 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.