JIGAX vs. JMSIX

Last updated Jun 27, 2026

JIGAX (JPMorgan U.S. GARP Equity Fund Class A) and JMSIX (JPMorgan Income Fund) are both mutual funds - JIGAX is a Large Cap Growth Equities fund managed by JPMorgan, while JMSIX is a Multisector Bonds fund managed by JPMorgan. Over the past 10 years, JIGAX returned 18.14%/yr vs 3.98%/yr for JMSIX. At a 0.21 correlation, their price movements are largely independent. JIGAX charges 0.84%/yr vs 0.40%/yr for JMSIX.

Performance

JIGAX vs. JMSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan U.S. GARP Equity Fund Class A (JIGAX) and JPMorgan Income Fund (JMSIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JIGAX achieves a 1.89% return, which is significantly higher than JMSIX's 1.11% return. Over the past 10 years, JIGAX has outperformed JMSIX with an annualized return of 18.14%, while JMSIX has yielded a comparatively lower 3.98% annualized return.

JIGAX

• 1D: -1.11%
• 1M: -5.35%
• YTD: 1.89%
• 6M: 0.44%
• 1Y: 16.84%
• 3Y*: 25.01%
• 5Y*: 14.76%
• 10Y*: 18.14%

JMSIX

• 1D: 0.00%
• 1M: 0.39%
• YTD: 1.11%
• 6M: 1.61%
• 1Y: 4.94%
• 3Y*: 7.17%
• 5Y*: 2.78%
• 10Y*: 3.98%

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

JIGAX vs. JMSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JIGAX JPMorgan U.S. GARP Equity Fund Class A	1.89%	20.26%	39.76%	41.67%	-27.75%	30.37%	27.42%	28.93%	-3.69%	31.55%
JMSIX JPMorgan Income Fund	1.11%	7.68%	7.78%	6.14%	-8.24%	3.59%	3.07%	11.82%	1.03%	6.00%

Correlation

The correlation between JIGAX and JMSIX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.22
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014	0.21

Return for Risk

JIGAX vs. JMSIX — Risk / Return Rank

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

JIGAX

JIGAX Risk / Return Rank: 20
JIGAX Sharpe Ratio Rank: 22
JIGAX Sortino Ratio Rank: 20
JIGAX Omega Ratio Rank: 20
JIGAX Calmar Ratio Rank: 17
JIGAX Martin Ratio Rank: 20

JMSIX

JMSIX Risk / Return Rank: 82
JMSIX Sharpe Ratio Rank: 72
JMSIX Sortino Ratio Rank: 90
JMSIX Omega Ratio Rank: 87
JMSIX Calmar Ratio Rank: 80
JMSIX Martin Ratio Rank: 83

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.

JIGAX vs. JMSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan U.S. GARP Equity Fund Class A (JIGAX) and JPMorgan Income Fund (JMSIX). 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.

	JIGAX	JMSIX	Difference
Sharpe ratio: Return per unit of total volatility	1.12	2.00	-0.88
Sortino ratio: Return per unit of downside risk	1.59	3.87	-2.29
Omega ratio: Gain probability vs. loss probability	1.20	1.51	-0.31
Calmar ratio: Return relative to maximum drawdown	1.23	3.13	-1.90
Martin ratio: Return relative to average drawdown	4.20	12.81	-8.62

JIGAX vs. JMSIX - Sharpe Ratio Comparison

The current JIGAX Sharpe Ratio is 1.12, which is lower than the JMSIX Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of JIGAX and JMSIX, 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

JIGAX vs. JMSIX - Drawdown Comparison

The maximum JIGAX drawdown since its inception was -52.99%, which is greater than JMSIX's maximum drawdown of -18.40%. Use the drawdown chart below to compare losses from any high point for JIGAX and JMSIX.

Drawdown Indicators

	JIGAX	JMSIX	Difference
Max Drawdown Largest peak-to-trough decline	-52.99%	-18.40%	-34.59%
Max Drawdown (1Y) Largest decline over 1 year	-14.66%	-1.62%	-13.04%
Max Drawdown (3Y) Largest decline over 3 years	-23.10%	-2.31%	-20.79%
Max Drawdown (5Y) Largest decline over 5 years	-31.33%	-11.39%	-19.94%
Max Drawdown (10Y) Largest decline over 10 years	-31.36%	-18.40%	-12.96%
Current Drawdown Current decline from peak	-7.20%	-0.35%	-6.85%
Average Drawdown Average peak-to-trough decline	-7.78%	-2.55%	-5.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.27%	0.40%	+3.87%

Volatility

JIGAX vs. JMSIX - Volatility Comparison

JPMorgan U.S. GARP Equity Fund Class A (JIGAX) has a higher volatility of 6.03% compared to JPMorgan Income Fund (JMSIX) at 0.76%. This indicates that JIGAX's price experiences larger fluctuations and is considered to be riskier than JMSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JIGAX	JMSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.03%	0.76%	+5.27%
Volatility (6M) Calculated over the trailing 6-month period	12.46%	1.93%	+10.53%
Volatility (1Y) Calculated over the trailing 1-year period	16.04%	2.54%	+13.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.00%	3.73%	+17.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.69%	3.86%	+16.83%

JIGAX vs. JMSIX - Expense Ratio Comparison

JIGAX has a 0.84% expense ratio, which is higher than JMSIX's 0.40% expense ratio.

Dividends

JIGAX vs. JMSIX - Dividend Comparison

JIGAX's dividend yield for the trailing twelve months is around 7.46%, more than JMSIX's 6.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JIGAX JPMorgan U.S. GARP Equity Fund Class A	7.46%	7.60%	11.35%	0.73%	4.16%	21.76%	9.65%	12.81%	12.35%	0.45%	0.62%	0.64%
JMSIX JPMorgan Income Fund	6.04%	5.95%	5.78%	4.43%	4.78%	4.00%	4.95%	5.10%	5.43%	5.42%	0.46%	0.00%

Frequently Asked Questions

Can I hold both JIGAX and JMSIX in my portfolio?

JIGAX and JMSIX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JIGAX or JMSIX?

JIGAX has higher volatility (6.03%) compared to JMSIX (0.76%). In terms of maximum drawdown, JIGAX dropped -52.99% vs JMSIX's -18.40%.

Which has better risk-adjusted returns?

JMSIX currently has the higher Sharpe Ratio (2.00 vs 1.12), 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.