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JMSIX vs. EMXC
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JMSIX vs. EMXC

Last updated Jun 13, 2026

JMSIX (JPMorgan Income Fund) and EMXC (iShares MSCI Emerging Markets ex China ETF) are both funds - JMSIX is a Multisector Bonds fund managed by JPMorgan, while EMXC is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index. Over the past 5 years, JMSIX returned 2.76%/yr vs 12.14%/yr for EMXC. At a 0.25 correlation, their price movements are largely independent. JMSIX charges 0.40%/yr vs 0.49%/yr for EMXC.

Performance

JMSIX vs. EMXC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Income Fund (JMSIX) and iShares MSCI Emerging Markets ex China ETF (EMXC). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, JMSIX achieves a 1.23% return, which is significantly lower than EMXC's 37.25% 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%

EMXC

1D
0.55%
1M
3.75%
YTD
37.25%
6M
42.23%
1Y
65.26%
3Y*
26.47%
5Y*
12.14%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

JMSIX vs. EMXC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
JMSIX
JPMorgan Income Fund		1.23%7.68%7.78%6.14%-8.24%3.59%3.07%11.82%1.03%2.17%
EMXC
iShares MSCI Emerging Markets ex China ETF		37.25%35.14%2.68%18.96%-19.56%8.54%12.76%15.80%-12.96%7.16%

Correlation

The correlation between JMSIX and EMXC is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.27

Correlation (3Y)
Calculated over the trailing 3-year period

0.23

Correlation (5Y)
Calculated over the trailing 5-year period

0.29

Correlation (All Time)
Calculated using the full available price history since Jul 26, 2017

0.25

Compare stocks, funds, or ETFs

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JPMorgan Income Fund

iShares MSCI Emerging Markets ex China ETF

Often compared with JMSIX:
JMSIX vs. PIMIXJMSIX vs. PONPXJMSIX vs. VCOBXJMSIX vs. VFIDXJMSIX vs. IIBAXJMSIX vs. DINDXJMSIX vs. POMIX
Often compared with EMXC:
EMXC vs. XCEMEMXC vs. IEMGEMXC vs. VWOEMXC vs. EEMEMXC vs. SPEMEMXC vs. VEXCEMXC vs. VNM

Return for Risk

JMSIX vs. EMXC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
JMSIX
JMSIX Risk / Return Rank: 8989
Overall Rank
JMSIX Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
JMSIX Sortino Ratio Rank: 9494
Sortino Ratio Rank
JMSIX Omega Ratio Rank: 9090
Omega Ratio Rank
JMSIX Calmar Ratio Rank: 8787
Calmar Ratio Rank
JMSIX Martin Ratio Rank: 9090
Martin Ratio Rank
EMXC
EMXC Risk / Return Rank: 8989
Overall Rank
EMXC Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
EMXC Sortino Ratio Rank: 8686
Sortino Ratio Rank
EMXC Omega Ratio Rank: 9090
Omega Ratio Rank
EMXC Calmar Ratio Rank: 8888
Calmar Ratio Rank
EMXC Martin Ratio Rank: 8989
Martin Ratio Rank
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. EMXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Income Fund (JMSIX) and iShares MSCI Emerging Markets ex China ETF (EMXC). 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.

JMSIXEMXCDifference
Sharpe ratioReturn per unit of total volatility
2.27
2.74

-0.48

Sortino ratioReturn per unit of downside risk
4.50
3.35

+1.15

Omega ratioGain probability vs. loss probability

1.60

1.50

+0.09

Calmar ratioReturn relative to maximum drawdown

3.51

4.55

-1.04

Martin ratioReturn relative to average drawdown

14.54

17.51

-2.97

JMSIX vs. EMXC - Sharpe Ratio Comparison

The current JMSIX Sharpe Ratio is 2.27, which is comparable to the EMXC Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of JMSIX and EMXC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

JMSIX vs. EMXC - Drawdown Comparison

The maximum JMSIX drawdown since its inception was -18.40%, smaller than the maximum EMXC drawdown of -42.81%. Use the drawdown chart below to compare losses from any high point for JMSIX and EMXC.

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Drawdown Indicators

JMSIXEMXCDifference

Max Drawdown

Largest peak-to-trough decline

-18.40%

-42.81%

+24.41%

Max Drawdown (1Y)

Largest decline over 1 year

-1.62%

-14.41%

+12.79%

Max Drawdown (3Y)

Largest decline over 3 years

-2.31%

-19.12%

+16.81%

Max Drawdown (5Y)

Largest decline over 5 years

-11.39%

-28.91%

+17.52%

Max Drawdown (10Y)

Largest decline over 10 years

-18.40%

—

—

Current Drawdown

Current decline from peak

-0.12%

-4.12%

+4.00%

Average Drawdown

Average peak-to-trough decline

-2.56%

-10.17%

+7.61%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.39%

3.74%

-3.35%

Volatility

JMSIX vs. EMXC - Volatility Comparison

The current volatility for JPMorgan Income Fund (JMSIX) is 0.79%, while iShares MSCI Emerging Markets ex China ETF (EMXC) has a volatility of 12.83%. This indicates that JMSIX experiences smaller price fluctuations and is considered to be less risky than EMXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

JMSIXEMXCDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.79%

12.83%

-12.04%

Volatility (6M)

Calculated over the trailing 6-month period

1.89%

21.90%

-20.01%

Volatility (1Y)

Calculated over the trailing 1-year period

2.52%

23.90%

-21.38%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.73%

18.00%

-14.27%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.87%

20.07%

-16.20%

JMSIX vs. EMXC - Expense Ratio Comparison

JMSIX has a 0.40% expense ratio, which is lower than EMXC's 0.49% expense ratio.

Dividends

JMSIX vs. EMXC - Dividend Comparison

JMSIX's dividend yield for the trailing twelve months is around 6.03%, more than EMXC's 2.05% yield.

PositionTTM2025202420232022202120202019201820172016
EMXC
iShares MSCI Emerging Markets ex China ETF		2.05%2.82%2.69%1.83%2.85%1.78%1.45%3.25%2.63%0.99%0.00%
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%

Frequently Asked Questions

JMSIX and EMXC have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EMXC has higher volatility (12.83%) compared to JMSIX (0.79%). In terms of maximum drawdown, JMSIX dropped -18.40% vs EMXC's -42.81%.

EMXC currently has the higher Sharpe Ratio (2.74 vs 2.27), 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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