JMSIX vs. BATAX

Last updated Jun 4, 2026

JMSIX (JPMorgan Income Fund) and BATAX (BlackRock Allocation Target Shares Series A Portfolio) are both mutual funds - JMSIX is a Multisector Bonds fund managed by JPMorgan, while BATAX is a Short-Term Bond fund managed by BlackRock. Over the past 10 years, JMSIX returned 3.98%/yr vs 3.59%/yr for BATAX. A 0.56 correlation means they provide meaningful diversification when combined. JMSIX charges 0.40%/yr vs 0.00%/yr for BATAX.

Performance

JMSIX vs. BATAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Income Fund (JMSIX) and BlackRock Allocation Target Shares Series A Portfolio (BATAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JMSIX achieves a 1.35% return, which is significantly lower than BATAX's 1.87% return. Over the past 10 years, JMSIX has outperformed BATAX with an annualized return of 3.98%, while BATAX has yielded a comparatively lower 3.59% annualized return.

JMSIX

• 1D: 0.12%
• 1M: 0.39%
• YTD: 1.35%
• 6M: 1.85%
• 1Y: 5.92%
• 3Y*: 7.12%
• 5Y*: 2.81%
• 10Y*: 3.98%

BATAX

• 1D: -0.10%
• 1M: 0.34%
• YTD: 1.87%
• 6M: 2.32%
• 1Y: 6.24%
• 3Y*: 6.70%
• 5Y*: 3.41%
• 10Y*: 3.59%

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

JMSIX vs. BATAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JMSIX JPMorgan Income Fund	1.35%	7.68%	7.78%	6.14%	-8.24%	3.59%	3.07%	11.82%	1.03%	6.00%
BATAX BlackRock Allocation Target Shares Series A Portfolio	1.87%	7.37%	7.34%	6.43%	-5.87%	1.72%	2.75%	6.76%	2.20%	5.21%

Correlation

The correlation between JMSIX and BATAX is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.56

The correlation between JMSIX and BATAX shifts across timeframes, from 0.56 (all time) to 0.72 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

JMSIX vs. BATAX — Risk / Return Rank

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

JMSIX

JMSIX Risk / Return Rank: 80
JMSIX Sharpe Ratio Rank: 61
JMSIX Sortino Ratio Rank: 92
JMSIX Omega Ratio Rank: 87
JMSIX Calmar Ratio Rank: 79
JMSIX Martin Ratio Rank: 79

BATAX

BATAX Risk / Return Rank: 96
BATAX Sharpe Ratio Rank: 91
BATAX Sortino Ratio Rank: 99
BATAX Omega Ratio Rank: 98
BATAX Calmar Ratio Rank: 97
BATAX Martin Ratio Rank: 97

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.

JMSIX vs. BATAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Income Fund (JMSIX) and BlackRock Allocation Target Shares Series A Portfolio (BATAX). 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.

	JMSIX	BATAX	Difference
Sharpe ratio: Return per unit of total volatility	2.30	3.06	-0.77
Sortino ratio: Return per unit of downside risk	4.54	7.71	-3.17
Omega ratio: Gain probability vs. loss probability	1.60	2.14	-0.54
Calmar ratio: Return relative to maximum drawdown	3.59	6.69	-3.11
Martin ratio: Return relative to average drawdown	14.87	27.99	-13.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JMSIX vs. BATAX - Sharpe Ratio Comparison

The current JMSIX Sharpe Ratio is 2.30, which is comparable to the BATAX Sharpe Ratio of 3.06. The chart below compares the historical Sharpe Ratios of JMSIX and BATAX, 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

	JMSIX	BATAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	3.06	-0.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	1.57	-0.82
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.03	1.17	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	1.11	-0.31

Drawdowns

JMSIX vs. BATAX - Drawdown Comparison

The maximum JMSIX drawdown since its inception was -18.40%, which is greater than BATAX's maximum drawdown of -17.42%. Use the drawdown chart below to compare losses from any high point for JMSIX and BATAX.

Drawdown Indicators

	JMSIX	BATAX	Difference
Max Drawdown Largest peak-to-trough decline	-18.40%	-17.42%	-0.98%
Max Drawdown (1Y) Largest decline over 1 year	-1.62%	-0.94%	-0.68%
Max Drawdown (3Y) Largest decline over 3 years	-2.31%	-1.15%	-1.16%
Max Drawdown (5Y) Largest decline over 5 years	-11.39%	-8.12%	-3.27%
Max Drawdown (10Y) Largest decline over 10 years	-18.40%	-17.42%	-0.98%
Current Drawdown Current decline from peak	0.00%	-0.10%	+0.10%
Average Drawdown Average peak-to-trough decline	-2.57%	-1.30%	-1.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.39%	0.22%	+0.17%

Volatility

JMSIX vs. BATAX - Volatility Comparison

JPMorgan Income Fund (JMSIX) has a higher volatility of 0.82% compared to BlackRock Allocation Target Shares Series A Portfolio (BATAX) at 0.67%. This indicates that JMSIX's price experiences larger fluctuations and is considered to be riskier than BATAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JMSIX	BATAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.82%	0.67%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	1.88%	1.43%	+0.45%
Volatility (1Y) Calculated over the trailing 1-year period	2.53%	2.04%	+0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.73%	2.18%	+1.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.87%	3.07%	+0.80%

JMSIX vs. BATAX - Expense Ratio Comparison

JMSIX has a 0.40% expense ratio, which is higher than BATAX's 0.00% expense ratio.

Dividends

JMSIX vs. BATAX - Dividend Comparison

JMSIX's dividend yield for the trailing twelve months is around 6.02%, more than BATAX's 5.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BATAX BlackRock Allocation Target Shares Series A Portfolio	5.74%	5.92%	5.45%	3.91%	3.14%	1.82%	3.22%	4.73%	5.36%	4.10%	0.40%
JMSIX JPMorgan Income Fund	6.02%	5.95%	5.78%	4.43%	4.78%	4.00%	4.95%	5.10%	5.43%	5.42%	0.46%

Frequently Asked Questions

Can I hold both JMSIX and BATAX in my portfolio?

JMSIX and BATAX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JMSIX or BATAX?

JMSIX has higher volatility (0.82%) compared to BATAX (0.67%). In terms of maximum drawdown, JMSIX dropped -18.40% vs BATAX's -17.42%.

Which has better risk-adjusted returns?

BATAX currently has the higher Sharpe Ratio (3.06 vs 2.30), 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.