JMM vs. TQPAX
JMM (Nuveen Multi-Market Income Fund) and TQPAX (Touchstone Strategic Income Opportunities Fund) are both Multisector Bonds funds. Over the past 5 years, JMM returned 0.38%/yr vs 2.53%/yr for TQPAX. Their 0.23 correlation means their historical movements had little consistent relationship. JMM charges 0.04%/yr vs 1.00%/yr for TQPAX.
Performance
JMM vs. TQPAX - Performance Comparison
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Returns By Period
In the year-to-date period, JMM achieves a -1.14% return, which is significantly lower than TQPAX's 0.31% return.
JMM
- 1D
- 0.00%
- 1M
- -1.04%
- 6M
- -3.36%
- YTD
- -1.14%
- 1Y
- -4.21%
- 3Y*
- 5.57%
- 5Y*
- 0.38%
- 10Y*
- 2.86%
- ALL TIME*
- 2.92%
TQPAX
- 1D
- -0.31%
- 1M
- -1.14%
- 6M
- -0.06%
- YTD
- 0.31%
- 1Y
- 3.86%
- 3Y*
- 7.22%
- 5Y*
- 2.53%
- 10Y*
- —
- ALL TIME*
- 2.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $39.40K | $36.09K | $52.61K | |
| $0.00 | $0.00 | $0.00 |
JMM vs. TQPAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JMM Nuveen Multi-Market Income Fund | -1.14% | 5.61% | 8.15% | 6.57% | -17.95% | 2.83% |
TQPAX Touchstone Strategic Income Opportunities Fund | 0.31% | 8.97% | 7.26% | 8.37% | -9.86% | -0.64% |
Correlation
The correlation between JMM and TQPAX is 0.26, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.26 |
Correlation (3Y) Balances recent behavior with more history. | 0.24 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.23 |
Correlation (All Time) Calculated using the full available price history since Jul 19, 2021 | 0.23 |
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Return for Risk
JMM vs. TQPAX — Risk / Return Rank
JMM
TQPAX
JMM vs. TQPAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Multi-Market Income Fund (JMM) and Touchstone Strategic Income Opportunities Fund (TQPAX). 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.
| JMM | TQPAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.51 | ||
| Sortino ratioReturn per unit of downside risk | -2.19 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.24 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | 1.75 | -2.26 |
| Martin ratioReturn relative to average drawdown | -0.93 | 5.65 | -6.58 |
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Drawdowns
JMM vs. TQPAX - Drawdown Comparison
The maximum JMM drawdown since its inception was -48.15%, which is greater than TQPAX's maximum drawdown of -16.94%. Use the drawdown chart below to compare losses from any high point for JMM and TQPAX.
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Drawdown Indicators
| JMM | TQPAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.15% | -16.94% | -31.21% |
Max Drawdown (1Y)Largest decline over 1 year | -8.28% | -2.40% | -5.88% |
Max Drawdown (3Y)Largest decline over 3 years | -9.92% | -3.67% | -6.25% |
Max Drawdown (5Y)Largest decline over 5 years | -24.19% | -16.94% | -7.25% |
Max Drawdown (10Y)Largest decline over 10 years | -26.48% | — | — |
Current DrawdownCurrent decline from peak | -6.11% | -1.45% | -4.66% |
Average DrawdownAverage peak-to-trough decline | -14.07% | -4.25% | -9.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.53% | 0.74% | +3.79% |
Volatility
JMM vs. TQPAX - Volatility Comparison
Nuveen Multi-Market Income Fund (JMM) has a higher volatility of 2.50% compared to Touchstone Strategic Income Opportunities Fund (TQPAX) at 1.01%. This indicates that JMM's price experiences larger fluctuations and is considered to be riskier than TQPAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JMM | TQPAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.50% | 1.01% | +1.49% |
Volatility (6M)Calculated over the trailing 6-month period | 8.23% | 2.72% | +5.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.91% | 3.74% | +7.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.40% | 5.10% | +8.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.91% | 5.08% | +8.83% |
JMM vs. TQPAX - Expense Ratio Comparison
JMM has a 0.04% expense ratio, which is lower than TQPAX's 1.00% expense ratio.
Dividends
JMM vs. TQPAX - Dividend Comparison
JMM's dividend yield for the trailing twelve months is around 6.03%, more than TQPAX's 4.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JMM Nuveen Multi-Market Income Fund | 6.03% | 5.76% | 5.48% | 5.58% | 6.13% | 4.60% | 4.49% | 4.86% | 5.34% | 5.63% | 6.19% | 6.76% |
TQPAX Touchstone Strategic Income Opportunities Fund | 4.81% | 4.20% | 4.43% | 4.95% | 4.02% | 1.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JMM and TQPAX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JMM has higher volatility (2.50%) compared to TQPAX (1.01%). In terms of maximum drawdown, JMM dropped -48.15% vs TQPAX's -16.94%.
TQPAX currently has the higher Sharpe Ratio (1.13 vs -0.39), 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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