JDESX vs. SWPPX
JDESX (JPMorgan U.S. Research Enhanced Equity Fund) and SWPPX (Schwab S&P 500 Index Fund) are both Large Cap Blend Equities funds. Over the past 10 years, JDESX returned 16.12%/yr vs 15.63%/yr for SWPPX. With a 0.99 correlation, they move nearly in lockstep. JDESX charges 0.35%/yr vs 0.02%/yr for SWPPX.
Performance
JDESX vs. SWPPX - Performance Comparison
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Returns By Period
In the year-to-date period, JDESX achieves a 9.48% return, which is significantly lower than SWPPX's 11.69% return. Both investments have delivered pretty close results over the past 10 years, with JDESX having a 16.12% annualized return and SWPPX not far behind at 15.63%.
JDESX
- 1D
- 0.02%
- 1M
- 4.68%
- YTD
- 9.48%
- 6M
- 9.78%
- 1Y
- 26.08%
- 3Y*
- 23.52%
- 5Y*
- 15.03%
- 10Y*
- 16.12%
SWPPX
- 1D
- 0.15%
- 1M
- 5.83%
- YTD
- 11.69%
- 6M
- 11.71%
- 1Y
- 28.97%
- 3Y*
- 22.73%
- 5Y*
- 14.26%
- 10Y*
- 15.63%
JDESX vs. SWPPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JDESX JPMorgan U.S. Research Enhanced Equity Fund | 9.48% | 16.33% | 31.02% | 28.23% | -18.15% | 30.35% | 20.65% | 31.16% | -5.53% | 21.49% |
SWPPX Schwab S&P 500 Index Fund | 11.69% | 17.87% | 24.96% | 26.26% | -18.14% | 28.67% | 18.38% | 31.46% | -4.47% | 21.81% |
Correlation
The correlation between JDESX and SWPPX is 0.99 - 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 | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 1998 | 0.99 |
The correlation between JDESX and SWPPX has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
JDESX vs. SWPPX — Risk / Return Rank
JDESX
SWPPX
JDESX vs. SWPPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan U.S. Research Enhanced Equity Fund (JDESX) and Schwab S&P 500 Index Fund (SWPPX). 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.
| JDESX | SWPPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.46 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | 3.36 | -0.44 |
| Martin ratioReturn relative to average drawdown | 13.50 | 15.67 | -2.17 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JDESX | SWPPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.31 | 2.52 | -0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.80 | 0.85 | -0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.82 | 0.86 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.51 | -0.06 |
Drawdowns
JDESX vs. SWPPX - Drawdown Comparison
The maximum JDESX drawdown since its inception was -54.56%, roughly equal to the maximum SWPPX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for JDESX and SWPPX.
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Drawdown Indicators
| JDESX | SWPPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.56% | -55.06% | +0.50% |
Max Drawdown (1Y)Largest decline over 1 year | -9.22% | -8.89% | -0.33% |
Max Drawdown (3Y)Largest decline over 3 years | -18.85% | -18.74% | -0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -31.30% | -24.51% | -6.79% |
Max Drawdown (10Y)Largest decline over 10 years | -34.71% | -33.80% | -0.91% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -11.92% | -9.95% | -1.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.99% | 1.90% | +0.09% |
Volatility
JDESX vs. SWPPX - Volatility Comparison
The current volatility for JPMorgan U.S. Research Enhanced Equity Fund (JDESX) is 2.66%, while Schwab S&P 500 Index Fund (SWPPX) has a volatility of 2.83%. This indicates that JDESX experiences smaller price fluctuations and is considered to be less risky than SWPPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JDESX | SWPPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.66% | 2.83% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 8.77% | 8.98% | -0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.66% | 11.87% | -0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.79% | 16.93% | +1.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.74% | 18.23% | +1.51% |
JDESX vs. SWPPX - Expense Ratio Comparison
JDESX has a 0.35% expense ratio, which is higher than SWPPX's 0.02% expense ratio.
Dividends
JDESX vs. SWPPX - Dividend Comparison
JDESX's dividend yield for the trailing twelve months is around 4.87%, more than SWPPX's 0.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JDESX JPMorgan U.S. Research Enhanced Equity Fund | 4.87% | 5.33% | 11.20% | 1.23% | 2.79% | 12.94% | 3.89% | 11.29% | 14.15% | 1.39% | 1.40% | 5.56% |
SWPPX Schwab S&P 500 Index Fund | 0.99% | 1.11% | 1.23% | 1.43% | 1.67% | 1.27% | 1.81% | 1.95% | 2.67% | 1.79% | 2.55% | 3.17% |
Frequently Asked Questions
With a correlation of 0.99, JDESX and SWPPX 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.
SWPPX has higher volatility (2.83%) compared to JDESX (2.66%). In terms of maximum drawdown, JDESX dropped -54.56% vs SWPPX's -55.06%.
SWPPX currently has the higher Sharpe Ratio (2.52 vs 2.31), 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.
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