JMM vs. VGI
JMM (Nuveen Multi-Market Income Fund) and VGI (Virtus Global Multi-Sector Income Fund) are both Multisector Bonds funds. Over the past 10 years, JMM returned 3.01%/yr vs 4.93%/yr for VGI. At a 0.23 correlation, their price movements are largely independent.
Performance
JMM vs. VGI - Performance Comparison
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Returns By Period
In the year-to-date period, JMM achieves a -0.78% return, which is significantly lower than VGI's 0.52% return. Over the past 10 years, JMM has underperformed VGI with an annualized return of 3.01%, while VGI has yielded a comparatively higher 4.93% annualized return.
JMM
- 1D
- 0.17%
- 1M
- 1.34%
- YTD
- -0.78%
- 6M
- -0.28%
- 1Y
- -0.51%
- 3Y*
- 6.11%
- 5Y*
- 0.89%
- 10Y*
- 3.01%
VGI
- 1D
- 0.00%
- 1M
- 1.50%
- YTD
- 0.52%
- 6M
- 1.16%
- 1Y
- 8.75%
- 3Y*
- 12.52%
- 5Y*
- 2.63%
- 10Y*
- 4.93%
JMM vs. VGI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JMM Nuveen Multi-Market Income Fund | -0.78% | 5.61% | 8.15% | 6.57% | -17.95% | 10.53% | 1.77% | 13.56% | -5.37% | 10.58% |
VGI Virtus Global Multi-Sector Income Fund | 0.52% | 16.14% | 10.43% | 14.58% | -21.70% | 1.40% | 9.81% | 27.29% | -28.73% | 27.46% |
Correlation
The correlation between JMM and VGI is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2012 | 0.23 |
The correlation between JMM and VGI shifts across timeframes, from 0.23 (all time) to 0.37 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
JMM vs. VGI — Risk / Return Rank
JMM
VGI
JMM vs. VGI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Multi-Market Income Fund (JMM) and Virtus Global Multi-Sector Income Fund (VGI). 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 | VGI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.16 | ||
| Sortino ratioReturn per unit of downside risk | -1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.21 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.06 | 1.07 | -1.13 |
| Martin ratioReturn relative to average drawdown | -0.12 | 3.74 | -3.87 |
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Drawdowns
JMM vs. VGI - Drawdown Comparison
The maximum JMM drawdown since its inception was -48.15%, roughly equal to the maximum VGI drawdown of -48.08%. Use the drawdown chart below to compare losses from any high point for JMM and VGI.
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Drawdown Indicators
| JMM | VGI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.15% | -48.08% | -0.07% |
Max Drawdown (1Y)Largest decline over 1 year | -8.28% | -8.21% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -9.92% | -12.34% | +2.42% |
Max Drawdown (5Y)Largest decline over 5 years | -24.19% | -32.95% | +8.76% |
Max Drawdown (10Y)Largest decline over 10 years | -26.48% | -48.08% | +21.60% |
Current DrawdownCurrent decline from peak | -5.77% | -2.86% | -2.91% |
Average DrawdownAverage peak-to-trough decline | -14.09% | -10.40% | -3.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.12% | 2.34% | +1.78% |
Volatility
JMM vs. VGI - Volatility Comparison
Nuveen Multi-Market Income Fund (JMM) has a higher volatility of 3.06% compared to Virtus Global Multi-Sector Income Fund (VGI) at 1.86%. This indicates that JMM's price experiences larger fluctuations and is considered to be riskier than VGI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JMM | VGI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.06% | 1.86% | +1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 8.20% | 6.48% | +1.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.88% | 7.87% | +4.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.41% | 10.53% | +2.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.92% | 16.74% | -2.82% |
Dividends
JMM vs. VGI - Dividend Comparison
JMM's dividend yield for the trailing twelve months is around 5.98%, less than VGI's 12.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JMM Nuveen Multi-Market Income Fund | 5.98% | 5.76% | 5.48% | 5.58% | 6.13% | 4.60% | 4.49% | 4.86% | 5.34% | 5.63% | 6.19% | 6.76% |
VGI Virtus Global Multi-Sector Income Fund | 12.97% | 12.24% | 12.57% | 12.26% | 13.42% | 10.22% | 11.81% | 12.10% | 15.00% | 10.70% | 12.21% | 15.60% |
Frequently Asked Questions
JMM and VGI have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JMM has higher volatility (3.06%) compared to VGI (1.86%). In terms of maximum drawdown, JMM dropped -48.15% vs VGI's -48.08%.
VGI currently has the higher Sharpe Ratio (1.12 vs -0.04), 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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