JMSIX vs. BND

Last updated Jun 13, 2026

JMSIX (JPMorgan Income Fund) and BND (Vanguard Total Bond Market ETF) are both funds - JMSIX is a Multisector Bonds fund managed by JPMorgan, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Over the past 10 years, JMSIX returned 3.97%/yr vs 1.58%/yr for BND. A 0.51 correlation means they provide meaningful diversification when combined. JMSIX charges 0.40%/yr vs 0.03%/yr for BND.

Performance

JMSIX vs. BND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Income Fund (JMSIX) and Vanguard Total Bond Market ETF (BND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JMSIX achieves a 1.23% return, which is significantly higher than BND's 0.52% return. Over the past 10 years, JMSIX has outperformed BND with an annualized return of 3.97%, while BND has yielded a comparatively lower 1.58% annualized return.

JMSIX

• 1D: 0.12%
• 1M: 0.39%
• YTD: 1.23%
• 6M: 1.85%
• 1Y: 5.55%
• 3Y*: 7.12%
• 5Y*: 2.76%
• 10Y*: 3.97%

BND

• 1D: -0.12%
• 1M: 0.42%
• YTD: 0.52%
• 6M: 0.91%
• 1Y: 4.40%
• 3Y*: 4.17%
• 5Y*: 0.03%
• 10Y*: 1.58%

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

JMSIX vs. BND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JMSIX JPMorgan Income Fund	1.23%	7.68%	7.78%	6.14%	-8.24%	3.59%	3.07%	11.82%	1.03%	6.00%
BND Vanguard Total Bond Market ETF	0.52%	7.08%	1.38%	5.65%	-13.11%	-1.86%	7.71%	8.84%	-0.12%	3.57%

Correlation

The correlation between JMSIX and BND is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014	0.51

The correlation between JMSIX and BND shifts across timeframes, from 0.51 (all time) to 0.71 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

JMSIX vs. BND — Risk / Return Rank

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

JMSIX

JMSIX Risk / Return Rank: 89
JMSIX Sharpe Ratio Rank: 82
JMSIX Sortino Ratio Rank: 94
JMSIX Omega Ratio Rank: 90
JMSIX Calmar Ratio Rank: 87
JMSIX Martin Ratio Rank: 90

BND

BND Risk / Return Rank: 37
BND Sharpe Ratio Rank: 38
BND Sortino Ratio Rank: 38
BND Omega Ratio Rank: 35
BND Calmar Ratio Rank: 37
BND Martin Ratio Rank: 35

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. BND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Income Fund (JMSIX) and Vanguard Total Bond Market ETF (BND). 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.

	JMSIX	BND	Difference
Sharpe ratio: Return per unit of total volatility	2.27	1.18	+1.08
Sortino ratio: Return per unit of downside risk	4.50	1.77	+2.73
Omega ratio: Gain probability vs. loss probability	1.60	1.21	+0.39
Calmar ratio: Return relative to maximum drawdown	3.51	1.65	+1.86
Martin ratio: Return relative to average drawdown	14.54	4.81	+9.74

JMSIX vs. BND - Sharpe Ratio Comparison

The current JMSIX Sharpe Ratio is 2.27, which is higher than the BND Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of JMSIX and BND, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JMSIX vs. BND - Drawdown Comparison

The maximum JMSIX drawdown since its inception was -18.40%, roughly equal to the maximum BND drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for JMSIX and BND.

Drawdown Indicators

	JMSIX	BND	Difference
Max Drawdown Largest peak-to-trough decline	-18.40%	-18.58%	+0.18%
Max Drawdown (1Y) Largest decline over 1 year	-1.62%	-2.68%	+1.06%
Max Drawdown (3Y) Largest decline over 3 years	-2.31%	-5.92%	+3.61%
Max Drawdown (5Y) Largest decline over 5 years	-11.39%	-17.91%	+6.52%
Max Drawdown (10Y) Largest decline over 10 years	-18.40%	-18.58%	+0.18%
Current Drawdown Current decline from peak	-0.12%	-2.12%	+2.00%
Average Drawdown Average peak-to-trough decline	-2.56%	-3.06%	+0.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.39%	0.92%	-0.53%

Volatility

JMSIX vs. BND - Volatility Comparison

The current volatility for JPMorgan Income Fund (JMSIX) is 0.79%, while Vanguard Total Bond Market ETF (BND) has a volatility of 1.28%. This indicates that JMSIX experiences smaller price fluctuations and is considered to be less risky than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JMSIX	BND	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.79%	1.28%	-0.49%
Volatility (6M) Calculated over the trailing 6-month period	1.89%	2.74%	-0.85%
Volatility (1Y) Calculated over the trailing 1-year period	2.52%	3.75%	-1.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.73%	6.03%	-2.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.87%	5.53%	-1.66%

JMSIX vs. BND - Expense Ratio Comparison

JMSIX has a 0.40% expense ratio, which is higher than BND's 0.03% expense ratio.

Dividends

JMSIX vs. BND - Dividend Comparison

JMSIX's dividend yield for the trailing twelve months is around 6.03%, more than BND's 3.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BND Vanguard Total Bond Market ETF	3.96%	3.86%	3.67%	3.09%	2.60%	2.12%	2.38%	2.72%	2.81%	2.54%	2.51%	2.57%
JMSIX JPMorgan Income Fund	6.03%	5.95%	5.78%	4.43%	4.78%	4.00%	4.95%	5.10%	5.43%	5.42%	0.46%	0.00%

Frequently Asked Questions

Can I hold both JMSIX and BND in my portfolio?

JMSIX and BND have a correlation of 0.66, 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 BND?

BND has higher volatility (1.28%) compared to JMSIX (0.79%). In terms of maximum drawdown, JMSIX dropped -18.40% vs BND's -18.58%.

Which has better risk-adjusted returns?

JMSIX currently has the higher Sharpe Ratio (2.27 vs 1.18), 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.