JMM vs. TQPAX
JMM (Nuveen Multi-Market Income Fund) and TQPAX (Touchstone Strategic Income Opportunities Fund) are both Multisector Bonds funds. Over the past 3 years, JMM returned 5.70%/yr vs 7.44%/yr for TQPAX. At a 0.23 correlation, their price movements are largely independent. 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 -0.95% return, which is significantly lower than TQPAX's 0.85% return.
JMM
- 1D
- 0.00%
- 1M
- 0.50%
- 6M
- -1.76%
- YTD
- -0.95%
- 1Y
- -3.11%
- 3Y*
- 5.70%
- 5Y*
- 0.37%
- 10Y*
- 2.96%
TQPAX
- 1D
- 0.00%
- 1M
- -0.49%
- 6M
- 0.54%
- YTD
- 0.85%
- 1Y
- 5.46%
- 3Y*
- 7.44%
- 5Y*
- —
- 10Y*
- —
JMM vs. TQPAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JMM Nuveen Multi-Market Income Fund | -0.95% | 5.61% | 8.15% | 6.57% | -17.95% | 2.83% |
TQPAX Touchstone Strategic Income Opportunities Fund | 0.85% | 8.97% | 7.26% | 8.37% | -9.86% | -0.64% |
Correlation
The correlation between JMM and TQPAX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
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 | -1.74 | ||
| Sortino ratioReturn per unit of downside risk | -2.54 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.31 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.38 | 2.28 | -2.66 |
| Martin ratioReturn relative to average drawdown | -0.72 | 7.93 | -8.65 |
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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% | -4.17% | -5.75% |
Max Drawdown (5Y)Largest decline over 5 years | -24.19% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -26.48% | — | — |
Current DrawdownCurrent decline from peak | -5.93% | -0.91% | -5.02% |
Average DrawdownAverage peak-to-trough decline | -14.08% | -4.29% | -9.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.32% | 0.69% | +3.63% |
Volatility
JMM vs. TQPAX - Volatility Comparison
Nuveen Multi-Market Income Fund (JMM) has a higher volatility of 1.64% compared to Touchstone Strategic Income Opportunities Fund (TQPAX) at 1.26%. 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 | 1.64% | 1.26% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 8.19% | 2.77% | +5.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.39% | 3.75% | +7.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.41% | 5.10% | +8.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.90% | 5.10% | +8.80% |
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 5.99%, more than TQPAX's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JMM Nuveen Multi-Market Income Fund | 5.99% | 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 | 4.75% | 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 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JMM has higher volatility (1.64%) compared to TQPAX (1.26%). In terms of maximum drawdown, JMM dropped -48.15% vs TQPAX's -16.94%.
TQPAX currently has the higher Sharpe Ratio (1.46 vs -0.28), 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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