JCPI vs. MGV

Last updated Jun 14, 2026

JCPI (JPMorgan Inflation Managed Bond ETF) and MGV (Vanguard Mega Cap Value ETF) are both exchange-traded funds - JCPI is a Inflation-Protected Bonds fund actively managed by JPMorgan, while MGV is a Large Cap Value Equities fund tracking the CRSP US Mega Cap Value Index. JCPI is actively managed, while MGV is passively managed. Over the past 3 years, JCPI returned 5.40%/yr vs 18.98%/yr for MGV. At a 0.23 correlation, their price movements are largely independent. JCPI charges 0.25%/yr vs 0.05%/yr for MGV.

Performance

JCPI vs. MGV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Inflation Managed Bond ETF (JCPI) and Vanguard Mega Cap Value ETF (MGV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JCPI achieves a 1.34% return, which is significantly lower than MGV's 15.50% return.

JCPI

• 1D: -0.00%
• 1M: -0.47%
• YTD: 1.34%
• 6M: 1.12%
• 1Y: 4.86%
• 3Y*: 5.40%
• 5Y*: —
• 10Y*: —

MGV

• 1D: 0.90%
• 1M: 4.18%
• YTD: 15.50%
• 6M: 15.37%
• 1Y: 28.69%
• 3Y*: 18.98%
• 5Y*: 12.53%
• 10Y*: 13.15%

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

JCPI vs. MGV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JCPI JPMorgan Inflation Managed Bond ETF	1.34%	7.10%	4.70%	5.04%	-5.53%
MGV Vanguard Mega Cap Value ETF	15.50%	15.45%	16.94%	9.16%	-3.41%

Correlation

The correlation between JCPI and MGV is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (All Time) Calculated using the full available price history since Apr 11, 2022	0.23

Return for Risk

JCPI vs. MGV — Risk / Return Rank

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

JCPI

JCPI Risk / Return Rank: 62
JCPI Sharpe Ratio Rank: 57
JCPI Sortino Ratio Rank: 64
JCPI Omega Ratio Rank: 58
JCPI Calmar Ratio Rank: 69
JCPI Martin Ratio Rank: 64

MGV

MGV Risk / Return Rank: 90
MGV Sharpe Ratio Rank: 91
MGV Sortino Ratio Rank: 92
MGV Omega Ratio Rank: 89
MGV Calmar Ratio Rank: 87
MGV Martin Ratio Rank: 88

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.

JCPI vs. MGV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Inflation Managed Bond ETF (JCPI) and Vanguard Mega Cap Value ETF (MGV). 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.

	JCPI	MGV	Difference
Sharpe ratio: Return per unit of total volatility	1.68	2.76	-1.09
Sortino ratio: Return per unit of downside risk	2.59	3.92	-1.33
Omega ratio: Gain probability vs. loss probability	1.31	1.50	-0.18
Calmar ratio: Return relative to maximum drawdown	3.05	4.36	-1.31
Martin ratio: Return relative to average drawdown	10.17	16.56	-6.38

JCPI vs. MGV - Sharpe Ratio Comparison

The current JCPI Sharpe Ratio is 1.68, which is lower than the MGV Sharpe Ratio of 2.76. The chart below compares the historical Sharpe Ratios of JCPI and MGV, 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

JCPI vs. MGV - Drawdown Comparison

The maximum JCPI drawdown since its inception was -7.85%, smaller than the maximum MGV drawdown of -56.07%. Use the drawdown chart below to compare losses from any high point for JCPI and MGV.

Drawdown Indicators

	JCPI	MGV	Difference
Max Drawdown Largest peak-to-trough decline	-7.85%	-56.07%	+48.22%
Max Drawdown (1Y) Largest decline over 1 year	-1.60%	-6.42%	+4.82%
Max Drawdown (3Y) Largest decline over 3 years	-2.81%	-13.18%	+10.37%
Max Drawdown (5Y) Largest decline over 5 years	—	-16.54%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.41%	—
Current Drawdown Current decline from peak	-0.74%	0.00%	-0.74%
Average Drawdown Average peak-to-trough decline	-1.86%	-7.78%	+5.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	1.69%	-1.21%

Volatility

JCPI vs. MGV - Volatility Comparison

The current volatility for JPMorgan Inflation Managed Bond ETF (JCPI) is 0.90%, while Vanguard Mega Cap Value ETF (MGV) has a volatility of 3.33%. This indicates that JCPI experiences smaller price fluctuations and is considered to be less risky than MGV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JCPI	MGV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.90%	3.33%	-2.43%
Volatility (6M) Calculated over the trailing 6-month period	2.06%	7.77%	-5.71%
Volatility (1Y) Calculated over the trailing 1-year period	2.91%	10.13%	-7.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.49%	13.61%	-9.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.49%	16.35%	-11.86%

JCPI vs. MGV - Expense Ratio Comparison

JCPI has a 0.25% expense ratio, which is higher than MGV's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

JCPI vs. MGV - Dividend Comparison

JCPI's dividend yield for the trailing twelve months is around 3.95%, more than MGV's 1.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JCPI JPMorgan Inflation Managed Bond ETF	3.95%	3.93%	3.98%	3.45%	3.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MGV Vanguard Mega Cap Value ETF	1.85%	2.04%	2.31%	2.48%	2.45%	2.17%	2.47%	2.69%	2.65%	2.34%	2.53%	2.59%

Frequently Asked Questions

Can I hold both JCPI and MGV in my portfolio?

JCPI and MGV have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JCPI or MGV?

MGV has higher volatility (3.33%) compared to JCPI (0.90%). In terms of maximum drawdown, JCPI dropped -7.85% vs MGV's -56.07%.

Which ETF is better, JCPI or MGV?

On 3-year performance, MGV leads with 18.98% vs 5.40% for JCPI. On fees, MGV is cheaper at 0.05% per year. On volatility, JCPI has been the lower-risk option at 0.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JCPI or MGV?

Over the 3-year period, MGV has performed better with a 18.98% return vs 5.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JCPI or MGV?

MGV is cheaper with a 0.05% expense ratio, compared with 0.25% for JCPI.

Which ETF pays a higher dividend yield, JCPI or MGV?

JCPI has the higher dividend yield at 3.95%, compared with 1.85% for MGV.

What is the main difference between JCPI and MGV?

JCPI is categorized as Inflation-Protected Bonds, while MGV is Large Cap Value Equities. They also come from different issuers: JPMorgan and Vanguard. Their fees differ too: 0.25% for JCPI and 0.05% for MGV.

Which has better risk-adjusted returns?

MGV currently has the higher Sharpe Ratio (2.76 vs 1.68), 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.