JHEQX vs. IVVD

Last updated Aug 1, 2026

JHEQX (JPMorgan Hedged Equity Fund Class I) is Equity Hedged fund managed by JPMorgan, while IVVD (Invivyd Inc.) is a stock. Over the past 3 years, JHEQX returned 8.05%/yr vs -28.28%/yr for IVVD. Their 0.26 correlation means their historical movements had little consistent relationship.

Performance

JHEQX vs. IVVD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Hedged Equity Fund Class I (JHEQX) and Invivyd Inc. (IVVD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHEQX achieves a -1.20% return, which is significantly higher than IVVD's -78.34% return.

JHEQX

• 1D: 1.25%
• 1M: 0.55%
• 6M: -1.95%
• YTD: -1.20%
• 1Y: 5.34%
• 3Y*: 8.05%
• 5Y*: 6.67%
• 10Y*: 8.75%
• ALL TIME*: 7.89%

IVVD

• 1D: -8.01%
• 1M: -40.14%
• 6M: -69.25%
• YTD: -78.34%
• 1Y: -26.94%
• 3Y*: -28.28%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -52.12%

*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)
IVVD Invivyd Inc.	$2.02M	$2.46M	$4.19M
JHEQX JPMorgan Hedged Equity Fund Class I	$0.00	$0.00	$0.00

JHEQX vs. IVVD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JHEQX JPMorgan Hedged Equity Fund Class I	-1.20%	7.49%	18.23%	16.07%	-8.05%	2.69%
IVVD Invivyd Inc.	-78.34%	457.44%	-88.75%	162.67%	-79.34%	-65.43%

Correlation

The correlation between JHEQX and IVVD is 0.23, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.23
Correlation (3Y) Balances recent behavior with more history.	0.23
Correlation (All Time) Calculated using the full available price history since Aug 6, 2021	0.26

Return for Risk

JHEQX vs. IVVD — Risk / Return Rank

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

JHEQX

JHEQX Risk / Return Rank: 16
JHEQX Sharpe Ratio Rank: 17
JHEQX Sortino Ratio Rank: 16
JHEQX Omega Ratio Rank: 18
JHEQX Calmar Ratio Rank: 13
JHEQX Martin Ratio Rank: 14

IVVD

IVVD Risk / Return Rank: 42
IVVD Sharpe Ratio Rank: 37
IVVD Sortino Ratio Rank: 55
IVVD Omega Ratio Rank: 51
IVVD Calmar Ratio Rank: 35
IVVD Martin Ratio Rank: 34

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.

JHEQX vs. IVVD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Hedged Equity Fund Class I (JHEQX) and Invivyd Inc. (IVVD). 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.

	JHEQX	IVVD	Difference
Sharpe ratio: Return per unit of total volatility	0.62	-0.16	+0.78
Sortino ratio: Return per unit of downside risk	0.89	0.83	+0.07
Omega ratio: Gain probability vs. loss probability	1.12	1.09	+0.03
Calmar ratio: Return relative to maximum drawdown	0.59	-0.28	+0.87
Martin ratio: Return relative to average drawdown	1.78	-0.55	+2.33

JHEQX vs. IVVD - Sharpe Ratio Comparison

The current JHEQX Sharpe Ratio is 0.62, which is higher than the IVVD Sharpe Ratio of -0.16. The chart below compares the historical Sharpe Ratios of JHEQX and IVVD, 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

JHEQX vs. IVVD - Drawdown Comparison

The maximum JHEQX drawdown since its inception was -18.85%, smaller than the maximum IVVD drawdown of -99.36%. Use the drawdown chart below to compare losses from any high point for JHEQX and IVVD.

Drawdown Indicators

	JHEQX	IVVD	Difference
Max Drawdown Largest peak-to-trough decline	-18.85%	-99.36%	+80.51%
Max Drawdown (1Y) Largest decline over 1 year	-6.88%	-81.42%	+74.54%
Max Drawdown (3Y) Largest decline over 3 years	-13.07%	-92.90%	+79.83%
Max Drawdown (5Y) Largest decline over 5 years	-14.34%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-18.85%	—	—
Current Drawdown Current decline from peak	-2.50%	-99.05%	+96.55%
Average Drawdown Average peak-to-trough decline	-2.19%	-91.29%	+89.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.28%	41.94%	-39.66%

Volatility

JHEQX vs. IVVD - Volatility Comparison

The current volatility for JPMorgan Hedged Equity Fund Class I (JHEQX) is 2.23%, while Invivyd Inc. (IVVD) has a volatility of 27.19%. This indicates that JHEQX experiences smaller price fluctuations and is considered to be less risky than IVVD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHEQX	IVVD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.23%	27.19%	-24.96%
Volatility (6M) Calculated over the trailing 6-month period	4.50%	68.58%	-64.08%
Volatility (1Y) Calculated over the trailing 1-year period	6.57%	142.08%	-135.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.89%	176.97%	-168.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.28%	176.97%	-167.69%

Dividends

JHEQX vs. IVVD - Dividend Comparison

JHEQX's dividend yield for the trailing twelve months is around 0.56%, while IVVD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVVD Invivyd Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JHEQX JPMorgan Hedged Equity Fund Class I	0.56%	0.65%	0.75%	0.98%	0.99%	0.71%	1.11%	1.11%	1.13%	0.99%	1.35%	1.21%

Frequently Asked Questions

Can I hold both JHEQX and IVVD in my portfolio?

JHEQX and IVVD have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JHEQX or IVVD?

IVVD has higher volatility (27.19%) compared to JHEQX (2.23%). In terms of maximum drawdown, JHEQX dropped -18.85% vs IVVD's -99.36%.

Which has better risk-adjusted returns?

JHEQX currently has the higher Sharpe Ratio (0.62 vs -0.16), 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.