JCMAX vs. FIIMX

Last updated Aug 4, 2026

JCMAX (JPMorgan Mid Cap Equity Fund Class A) and FIIMX (Fidelity Advisor Mid Cap II Fund Class I) are both Mid Cap Blend Equities funds. Over the past 10 years, JCMAX returned 11.47%/yr vs 11.77%/yr for FIIMX. Their 0.95 correlation means they have historically moved very closely together. JCMAX charges 1.14%/yr vs 0.73%/yr for FIIMX.

Performance

JCMAX vs. FIIMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Mid Cap Equity Fund Class A (JCMAX) and Fidelity Advisor Mid Cap II Fund Class I (FIIMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JCMAX achieves a 9.96% return, which is significantly lower than FIIMX's 21.70% return. Both investments have delivered pretty close results over the past 10 years, with JCMAX having a 11.47% annualized return and FIIMX not far ahead at 11.77%.

JCMAX

• 1D: -0.25%
• 1M: -0.61%
• 6M: 6.83%
• YTD: 9.96%
• 1Y: 12.97%
• 3Y*: 12.81%
• 5Y*: 6.80%
• 10Y*: 11.47%
• ALL TIME*: 12.62%

FIIMX

• 1D: 0.03%
• 1M: -2.77%
• 6M: 14.26%
• YTD: 21.70%
• 1Y: 34.28%
• 3Y*: 16.44%
• 5Y*: 10.36%
• 10Y*: 11.77%
• ALL TIME*: 10.65%

*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)
FIIMX Fidelity Advisor Mid Cap II Fund Class I	$0.00	$0.00	$0.00
JCMAX JPMorgan Mid Cap Equity Fund Class A	$0.00	$0.00	$0.00

JCMAX vs. FIIMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JCMAX JPMorgan Mid Cap Equity Fund Class A	9.96%	5.82%	18.44%	15.87%	-16.24%	19.67%	22.33%	32.37%	-8.43%	20.96%
FIIMX Fidelity Advisor Mid Cap II Fund Class I	21.70%	7.71%	17.21%	15.01%	-14.80%	25.26%	18.68%	23.72%	-14.97%	20.62%

Correlation

The correlation between JCMAX and FIIMX is 0.87, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.87
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.95
Correlation (10Y) Provides a long-term view across more market conditions.	0.95
Correlation (All Time) Calculated using the full available price history since Nov 2, 2009	0.95

The correlation between JCMAX and FIIMX has been stable across timeframes, ranging from 0.87 to 0.95 - a consistent structural relationship.

Return for Risk

JCMAX vs. FIIMX — Risk / Return Rank

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

JCMAX

JCMAX Risk / Return Rank: 28
JCMAX Sharpe Ratio Rank: 25
JCMAX Sortino Ratio Rank: 26
JCMAX Omega Ratio Rank: 24
JCMAX Calmar Ratio Rank: 30
JCMAX Martin Ratio Rank: 34

FIIMX

FIIMX Risk / Return Rank: 77
FIIMX Sharpe Ratio Rank: 73
FIIMX Sortino Ratio Rank: 71
FIIMX Omega Ratio Rank: 66
FIIMX Calmar Ratio Rank: 88
FIIMX Martin Ratio Rank: 88

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.

JCMAX vs. FIIMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Mid Cap Equity Fund Class A (JCMAX) and Fidelity Advisor Mid Cap II Fund Class I (FIIMX). 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.

	JCMAX	FIIMX	Difference
Sharpe ratio: Return per unit of total volatility	0.94	1.79	-0.85
Sortino ratio: Return per unit of downside risk	1.45	2.52	-1.07
Omega ratio: Gain probability vs. loss probability	1.17	1.31	-0.14
Calmar ratio: Return relative to maximum drawdown	1.43	3.30	-1.87
Martin ratio: Return relative to average drawdown	5.35	11.95	-6.60

JCMAX vs. FIIMX - Sharpe Ratio Comparison

The current JCMAX Sharpe Ratio is 0.94, which is lower than the FIIMX Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of JCMAX and FIIMX, 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

JCMAX vs. FIIMX - Drawdown Comparison

The maximum JCMAX drawdown since its inception was -38.33%, smaller than the maximum FIIMX drawdown of -53.22%. Use the drawdown chart below to compare losses from any high point for JCMAX and FIIMX.

Drawdown Indicators

	JCMAX	FIIMX	Difference
Max Drawdown Largest peak-to-trough decline	-38.33%	-53.22%	+14.89%
Max Drawdown (1Y) Largest decline over 1 year	-8.26%	-9.83%	+1.57%
Max Drawdown (3Y) Largest decline over 3 years	-18.99%	-28.06%	+9.07%
Max Drawdown (5Y) Largest decline over 5 years	-25.26%	-28.06%	+2.80%
Max Drawdown (10Y) Largest decline over 10 years	-38.33%	-42.29%	+3.96%
Current Drawdown Current decline from peak	-1.02%	-5.35%	+4.33%
Average Drawdown Average peak-to-trough decline	-5.11%	-8.02%	+2.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.21%	2.71%	-0.50%

Volatility

JCMAX vs. FIIMX - Volatility Comparison

The current volatility for JPMorgan Mid Cap Equity Fund Class A (JCMAX) is 2.57%, while Fidelity Advisor Mid Cap II Fund Class I (FIIMX) has a volatility of 4.47%. This indicates that JCMAX experiences smaller price fluctuations and is considered to be less risky than FIIMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JCMAX	FIIMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.57%	4.47%	-1.90%
Volatility (6M) Calculated over the trailing 6-month period	9.35%	14.47%	-5.12%
Volatility (1Y) Calculated over the trailing 1-year period	12.57%	18.14%	-5.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.36%	20.37%	-3.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.54%	20.96%	-1.42%

JCMAX vs. FIIMX - Expense Ratio Comparison

JCMAX has a 1.14% expense ratio, which is higher than FIIMX's 0.73% expense ratio.

Dividends

JCMAX vs. FIIMX - Dividend Comparison

JCMAX's dividend yield for the trailing twelve months is around 5.60%, which matches FIIMX's 5.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIIMX Fidelity Advisor Mid Cap II Fund Class I	5.64%	6.06%	6.79%	2.71%	5.70%	18.41%	1.29%	3.30%	10.56%	7.67%	4.84%	4.76%
JCMAX JPMorgan Mid Cap Equity Fund Class A	5.60%	6.16%	8.60%	0.31%	2.63%	7.65%	11.63%	8.54%	12.89%	5.69%	3.23%	5.06%

Frequently Asked Questions

Can I hold both JCMAX and FIIMX in my portfolio?

JCMAX and FIIMX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JCMAX or FIIMX?

FIIMX has higher volatility (4.47%) compared to JCMAX (2.57%). In terms of maximum drawdown, JCMAX dropped -38.33% vs FIIMX's -53.22%.

Which has better risk-adjusted returns?

FIIMX currently has the higher Sharpe Ratio (1.79 vs 0.94), 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.