JMGIX vs. BGRIX

Last updated Jun 4, 2026

JMGIX (JPMorgan Managed Income Fund) and BGRIX (Baron Growth Fund Institutional Shares) are both mutual funds - JMGIX is a Ultrashort Bond fund managed by BlackRock, while BGRIX is a Mid Cap Growth Equities fund managed by Baron Capital Group, Inc.. Over the past 10 years, JMGIX returned 2.46%/yr vs 7.42%/yr for BGRIX. At a 0.01 correlation, their price movements are largely independent. JMGIX charges 0.25%/yr vs 1.05%/yr for BGRIX.

Performance

JMGIX vs. BGRIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Managed Income Fund (JMGIX) and Baron Growth Fund Institutional Shares (BGRIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JMGIX achieves a 1.37% return, which is significantly higher than BGRIX's -11.33% return. Over the past 10 years, JMGIX has underperformed BGRIX with an annualized return of 2.46%, while BGRIX has yielded a comparatively higher 7.42% annualized return.

JMGIX

• 1D: 0.00%
• 1M: 0.34%
• YTD: 1.37%
• 6M: 1.72%
• 1Y: 4.23%
• 3Y*: 4.90%
• 5Y*: 3.35%
• 10Y*: 2.46%

BGRIX

• 1D: -2.94%
• 1M: 3.20%
• YTD: -11.33%
• 6M: -9.84%
• 1Y: -20.32%
• 3Y*: -5.45%
• 5Y*: -3.95%
• 10Y*: 7.42%

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

JMGIX vs. BGRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JMGIX JPMorgan Managed Income Fund	1.37%	4.87%	5.36%	4.18%	1.13%	0.05%	1.32%	3.02%	2.07%	1.30%
BGRIX Baron Growth Fund Institutional Shares	-11.33%	-14.21%	4.90%	14.97%	-22.35%	20.13%	33.10%	40.54%	-2.68%	27.45%

Correlation

The correlation between JMGIX and BGRIX is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.02
Correlation (10Y) Calculated over the trailing 10-year period	0.01
Correlation (All Time) Calculated using the full available price history since Jan 4, 2012	0.01

Return for Risk

JMGIX vs. BGRIX — Risk / Return Rank

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

JMGIX

JMGIX Risk / Return Rank: 97
JMGIX Sharpe Ratio Rank: 92
JMGIX Sortino Ratio Rank: 99
JMGIX Omega Ratio Rank: 98
JMGIX Calmar Ratio Rank: 99
JMGIX Martin Ratio Rank: 99

BGRIX

BGRIX Risk / Return Rank: 0
BGRIX Sharpe Ratio Rank: 0
BGRIX Sortino Ratio Rank: 0
BGRIX Omega Ratio Rank: 1
BGRIX Calmar Ratio Rank: 0
BGRIX Martin Ratio Rank: 1

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.

JMGIX vs. BGRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Managed Income Fund (JMGIX) and Baron Growth Fund Institutional Shares (BGRIX). 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.

	JMGIX	BGRIX	Difference
Sharpe ratio Return per unit of total volatility	3.08	-1.06	+4.14
Sortino ratio Return per unit of downside risk	7.90	-1.45	+9.35
Omega ratio Gain probability vs. loss probability	2.49	0.83	+1.66
Calmar ratio Return relative to maximum drawdown	10.68	-0.75	+11.44
Martin ratio Return relative to average drawdown	49.62	-1.36	+50.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JMGIX vs. BGRIX - Sharpe Ratio Comparison

The current JMGIX Sharpe Ratio is 3.08, which is higher than the BGRIX Sharpe Ratio of -1.06. The chart below compares the historical Sharpe Ratios of JMGIX and BGRIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JMGIX	BGRIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.08	-1.06	+4.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.62	-0.20	+2.81
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	2.33	0.35	+1.98
Sharpe Ratio (All Time) Calculated using the full available price history	2.00	0.53	+1.47

Drawdowns

JMGIX vs. BGRIX - Drawdown Comparison

The maximum JMGIX drawdown since its inception was -2.18%, smaller than the maximum BGRIX drawdown of -41.12%. Use the drawdown chart below to compare losses from any high point for JMGIX and BGRIX.

Drawdown Indicators

	JMGIX	BGRIX	Difference
Max Drawdown Largest peak-to-trough decline	-2.18%	-41.12%	+38.94%
Max Drawdown (1Y) Largest decline over 1 year	-0.40%	-26.73%	+26.33%
Max Drawdown (3Y) Largest decline over 3 years	-0.40%	-32.37%	+31.97%
Max Drawdown (5Y) Largest decline over 5 years	-0.70%	-34.60%	+33.90%
Max Drawdown (10Y) Largest decline over 10 years	-2.18%	-41.12%	+38.94%
Current Drawdown Current decline from peak	0.00%	-29.88%	+29.88%
Average Drawdown Average peak-to-trough decline	-0.07%	-7.53%	+7.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.09%	14.82%	-14.73%

Volatility

JMGIX vs. BGRIX - Volatility Comparison

The current volatility for JPMorgan Managed Income Fund (JMGIX) is 0.39%, while Baron Growth Fund Institutional Shares (BGRIX) has a volatility of 7.60%. This indicates that JMGIX experiences smaller price fluctuations and is considered to be less risky than BGRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JMGIX	BGRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.39%	7.60%	-7.21%
Volatility (6M) Calculated over the trailing 6-month period	0.98%	15.11%	-14.13%
Volatility (1Y) Calculated over the trailing 1-year period	1.38%	18.98%	-17.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.29%	20.14%	-18.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.06%	21.15%	-20.09%

JMGIX vs. BGRIX - Expense Ratio Comparison

JMGIX has a 0.25% expense ratio, which is lower than BGRIX's 1.05% expense ratio.

Dividends

JMGIX vs. BGRIX - Dividend Comparison

JMGIX's dividend yield for the trailing twelve months is around 4.14%, less than BGRIX's 22.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BGRIX Baron Growth Fund Institutional Shares	22.24%	19.72%	11.30%	1.69%	5.72%	7.38%	4.45%	3.55%	8.12%	11.36%	12.56%	9.37%
JMGIX JPMorgan Managed Income Fund	4.14%	4.34%	5.11%	3.77%	1.32%	0.45%	1.31%	2.58%	2.15%	1.39%	0.11%	0.01%

Frequently Asked Questions

Can I hold both JMGIX and BGRIX in my portfolio?

JMGIX and BGRIX have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JMGIX or BGRIX?

BGRIX has higher volatility (7.60%) compared to JMGIX (0.39%). In terms of maximum drawdown, JMGIX dropped -2.18% vs BGRIX's -41.12%.

Which has better risk-adjusted returns?

JMGIX currently has the higher Sharpe Ratio (3.08 vs -1.06), 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.