JFLX vs. AMAX

Last updated Jun 25, 2026

JFLX (JPMorgan Flexible Debt ETF) and AMAX (RH Hedged Multi-Asset Income ETF) are both Nontraditional Bonds funds. Both are actively managed. A 0.51 correlation means they provide meaningful diversification when combined. JFLX charges 0.45%/yr vs 1.29%/yr for AMAX.

Performance

JFLX vs. AMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Flexible Debt ETF (JFLX) and RH Hedged Multi-Asset Income ETF (AMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JFLX achieves a 2.21% return, which is significantly higher than AMAX's -0.35% return.

JFLX

• 1D: 0.04%
• 1M: 1.09%
• YTD: 2.21%
• 6M: 2.26%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AMAX

• 1D: -0.53%
• 1M: -4.54%
• YTD: -0.35%
• 6M: -1.68%
• 1Y: 5.93%
• 3Y*: 7.35%
• 5Y*: —
• 10Y*: —

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

JFLX vs. AMAX - Yearly Performance Comparison

	2026 (YTD)	2025
JFLX JPMorgan Flexible Debt ETF	2.21%	1.48%
AMAX RH Hedged Multi-Asset Income ETF	-0.35%	-0.41%

Correlation

The correlation between JFLX and AMAX is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 29, 2025	0.51

Return for Risk

JFLX vs. AMAX — Risk / Return Rank

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

JFLX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

AMAX

AMAX Risk / Return Rank: 18
AMAX Sharpe Ratio Rank: 19
AMAX Sortino Ratio Rank: 16
AMAX Omega Ratio Rank: 17
AMAX Calmar Ratio Rank: 20
AMAX Martin Ratio Rank: 20

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.

JFLX vs. AMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Flexible Debt ETF (JFLX) and RH Hedged Multi-Asset Income ETF (AMAX). 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.

	JFLX	AMAX	Difference
Sharpe ratio: Return per unit of total volatility	—	0.57	—
Sortino ratio: Return per unit of downside risk	—	0.82	—
Omega ratio: Gain probability vs. loss probability	—	1.10	—
Calmar ratio: Return relative to maximum drawdown	—	0.79	—
Martin ratio: Return relative to average drawdown	—	2.16	—

Drawdowns

JFLX vs. AMAX - Drawdown Comparison

The maximum JFLX drawdown since its inception was -2.36%, smaller than the maximum AMAX drawdown of -16.28%. Use the drawdown chart below to compare losses from any high point for JFLX and AMAX.

Drawdown Indicators

	JFLX	AMAX	Difference
Max Drawdown Largest peak-to-trough decline	-2.36%	-16.28%	+13.92%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.53%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-9.27%	—
Current Drawdown Current decline from peak	-0.18%	-6.77%	+6.59%
Average Drawdown Average peak-to-trough decline	-0.38%	-5.30%	+4.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.75%	—

Volatility

Volatility by Period

	JFLX	AMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.03%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.76%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.67%	10.46%	-7.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.67%	10.45%	-7.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.67%	10.45%	-7.78%

JFLX vs. AMAX - Expense Ratio Comparison

JFLX has a 0.45% expense ratio, which is lower than AMAX's 1.29% expense ratio.

Dividends

JFLX vs. AMAX - Dividend Comparison

JFLX's dividend yield for the trailing twelve months is around 3.27%, less than AMAX's 11.52% yield.

Position	TTM	2025	2024	2023	2022	2021
AMAX RH Hedged Multi-Asset Income ETF	11.52%	9.18%	7.36%	6.99%	11.22%	1.00%
JFLX JPMorgan Flexible Debt ETF	3.27%	1.27%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JFLX and AMAX in my portfolio?

JFLX and AMAX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JFLX or AMAX?

On fees, JFLX is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JFLX or AMAX?

JFLX is cheaper with a 0.45% expense ratio, compared with 1.29% for AMAX.

Which ETF pays a higher dividend yield, JFLX or AMAX?

AMAX has the higher dividend yield at 11.52%, compared with 3.27% for JFLX.

What is the main difference between JFLX and AMAX?

They also come from different issuers: JPMorgan and Adaptive. Their fees differ too: 0.45% for JFLX and 1.29% for AMAX.