JCMAX vs. UMBMX

Last updated Jun 4, 2026

JCMAX (JPMorgan Mid Cap Equity Fund Class A) and UMBMX (Carillon Scout Mid Cap Fund) are both Mid Cap Blend Equities funds. Over the past 10 years, JCMAX returned 11.26%/yr vs 12.87%/yr for UMBMX. With a 0.96 correlation, they move nearly in lockstep. JCMAX charges 1.14%/yr vs 0.95%/yr for UMBMX.

Performance

JCMAX vs. UMBMX - Performance Comparison

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

Returns By Period

In the year-to-date period, JCMAX achieves a 7.01% return, which is significantly lower than UMBMX's 13.58% return. Over the past 10 years, JCMAX has underperformed UMBMX with an annualized return of 11.26%, while UMBMX has yielded a comparatively higher 12.87% annualized return.

JCMAX

• 1D: 0.46%
• 1M: 1.94%
• YTD: 7.01%
• 6M: 6.57%
• 1Y: 13.15%
• 3Y*: 14.43%
• 5Y*: 6.70%
• 10Y*: 11.26%

UMBMX

• 1D: 1.25%
• 1M: 2.03%
• YTD: 13.58%
• 6M: 13.25%
• 1Y: 26.23%
• 3Y*: 21.04%
• 5Y*: 9.20%
• 10Y*: 12.87%

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

JCMAX vs. UMBMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JCMAX JPMorgan Mid Cap Equity Fund Class A	7.01%	5.82%	18.44%	15.87%	-16.24%	19.67%	22.33%	32.37%	-8.43%	20.96%
UMBMX Carillon Scout Mid Cap Fund	13.58%	15.46%	22.93%	12.73%	-17.31%	15.69%	27.28%	20.76%	-9.83%	24.04%

Correlation

The correlation between JCMAX and UMBMX is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Nov 3, 2009	0.96

The correlation between JCMAX and UMBMX has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

JCMAX vs. UMBMX — Risk / Return Rank

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

JCMAX

JCMAX Risk / Return Rank: 19
JCMAX Sharpe Ratio Rank: 16
JCMAX Sortino Ratio Rank: 17
JCMAX Omega Ratio Rank: 15
JCMAX Calmar Ratio Rank: 22
JCMAX Martin Ratio Rank: 27

UMBMX

UMBMX Risk / Return Rank: 49
UMBMX Sharpe Ratio Rank: 43
UMBMX Sortino Ratio Rank: 42
UMBMX Omega Ratio Rank: 39
UMBMX Calmar Ratio Rank: 60
UMBMX Martin Ratio Rank: 59

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.

JCMAX vs. UMBMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Mid Cap Equity Fund Class A (JCMAX) and Carillon Scout Mid Cap Fund (UMBMX). 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.

	JCMAX	UMBMX	Difference
Sharpe ratio Return per unit of total volatility	1.14	1.90	-0.76
Sortino ratio Return per unit of downside risk	1.73	2.72	-0.99
Omega ratio Gain probability vs. loss probability	1.20	1.33	-0.13
Calmar ratio Return relative to maximum drawdown	1.71	2.98	-1.26
Martin ratio Return relative to average drawdown	6.39	11.78	-5.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JCMAX vs. UMBMX - Sharpe Ratio Comparison

The current JCMAX Sharpe Ratio is 1.14, which is lower than the UMBMX Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of JCMAX and UMBMX, 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

	JCMAX	UMBMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.14	1.90	-0.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.52	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.68	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.58	+0.09

Drawdowns

JCMAX vs. UMBMX - Drawdown Comparison

The maximum JCMAX drawdown since its inception was -38.33%, smaller than the maximum UMBMX drawdown of -49.91%. Use the drawdown chart below to compare losses from any high point for JCMAX and UMBMX.

Drawdown Indicators

	JCMAX	UMBMX	Difference
Max Drawdown Largest peak-to-trough decline	-38.33%	-49.91%	+11.58%
Max Drawdown (1Y) Largest decline over 1 year	-8.26%	-9.19%	+0.93%
Max Drawdown (3Y) Largest decline over 3 years	-18.99%	-19.41%	+0.42%
Max Drawdown (5Y) Largest decline over 5 years	-25.26%	-26.30%	+1.04%
Max Drawdown (10Y) Largest decline over 10 years	-38.33%	-36.91%	-1.42%
Current Drawdown Current decline from peak	0.00%	-0.25%	+0.25%
Average Drawdown Average peak-to-trough decline	-5.15%	-7.11%	+1.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.21%	2.32%	-0.11%

Volatility

JCMAX vs. UMBMX - Volatility Comparison

The current volatility for JPMorgan Mid Cap Equity Fund Class A (JCMAX) is 2.80%, while Carillon Scout Mid Cap Fund (UMBMX) has a volatility of 4.31%. This indicates that JCMAX experiences smaller price fluctuations and is considered to be less risky than UMBMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JCMAX	UMBMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.80%	4.31%	-1.51%
Volatility (6M) Calculated over the trailing 6-month period	9.15%	11.28%	-2.13%
Volatility (1Y) Calculated over the trailing 1-year period	12.36%	14.37%	-2.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.40%	17.73%	-0.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.61%	19.11%	+0.50%

JCMAX vs. UMBMX - Expense Ratio Comparison

JCMAX has a 1.14% expense ratio, which is higher than UMBMX's 0.95% expense ratio.

Dividends

JCMAX vs. UMBMX - Dividend Comparison

JCMAX's dividend yield for the trailing twelve months is around 5.75%, less than UMBMX's 9.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JCMAX JPMorgan Mid Cap Equity Fund Class A	5.75%	6.16%	8.60%	0.31%	2.63%	7.65%	11.63%	8.54%	12.89%	5.69%	3.23%	5.06%
UMBMX Carillon Scout Mid Cap Fund	9.06%	10.29%	15.75%	0.17%	4.21%	11.54%	2.40%	0.74%	8.09%	8.38%	2.39%	8.74%

Frequently Asked Questions

Can I hold both JCMAX and UMBMX in my portfolio?

With a correlation of 0.95, JCMAX and UMBMX 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, JCMAX or UMBMX?

UMBMX has higher volatility (4.31%) compared to JCMAX (2.80%). In terms of maximum drawdown, JCMAX dropped -38.33% vs UMBMX's -49.91%.

Which has better risk-adjusted returns?

UMBMX currently has the higher Sharpe Ratio (1.90 vs 1.14), 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.