JMSIX vs. ICSH
JMSIX (JPMorgan Income Fund) and ICSH (iShares Ultra Short Duration Bond Active ETF) are both funds - JMSIX is a Multisector Bonds fund managed by JPMorgan, while ICSH is a Ultrashort Bond fund actively managed by iShares. Over the past 10 years, JMSIX returned 3.97%/yr vs 2.78%/yr for ICSH. At a 0.23 correlation, their price movements are largely independent. JMSIX charges 0.40%/yr vs 0.08%/yr for ICSH.
Performance
JMSIX vs. ICSH - Performance Comparison
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Returns By Period
In the year-to-date period, JMSIX achieves a 1.23% return, which is significantly lower than ICSH's 1.53% return. Over the past 10 years, JMSIX has outperformed ICSH with an annualized return of 3.97%, while ICSH has yielded a comparatively lower 2.78% annualized return.
JMSIX
- 1D
- 0.12%
- 1M
- 0.74%
- YTD
- 1.23%
- 6M
- 1.85%
- 1Y
- 5.68%
- 3Y*
- 7.12%
- 5Y*
- 2.76%
- 10Y*
- 3.97%
ICSH
- 1D
- 0.00%
- 1M
- 0.32%
- YTD
- 1.53%
- 6M
- 1.81%
- 1Y
- 4.32%
- 3Y*
- 5.16%
- 5Y*
- 3.69%
- 10Y*
- 2.78%
JMSIX vs. ICSH - 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% |
ICSH iShares Ultra Short Duration Bond Active ETF | 1.53% | 4.96% | 5.52% | 5.58% | 0.97% | 0.16% | 1.61% | 3.17% | 2.25% | 1.63% |
Correlation
The correlation between JMSIX and ICSH is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014 | 0.23 |
The correlation between JMSIX and ICSH shifts across timeframes, from 0.23 (all time) to 0.44 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
JMSIX vs. ICSH — Risk / Return Rank
JMSIX
ICSH
JMSIX vs. ICSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Income Fund (JMSIX) and iShares Ultra Short Duration Bond Active ETF (ICSH). 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 | ICSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.72 | ||
| Sortino ratioReturn per unit of downside risk | -22.99 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 6.59 | -4.99 |
| Calmar ratioReturn relative to maximum drawdown | 3.51 | 43.88 | -40.37 |
| Martin ratioReturn relative to average drawdown | 14.54 | 290.20 | -275.66 |
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Drawdowns
JMSIX vs. ICSH - Drawdown Comparison
The maximum JMSIX drawdown since its inception was -18.40%, which is greater than ICSH's maximum drawdown of -3.94%. Use the drawdown chart below to compare losses from any high point for JMSIX and ICSH.
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Drawdown Indicators
| JMSIX | ICSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.40% | -3.94% | -14.46% |
Max Drawdown (1Y)Largest decline over 1 year | -1.62% | -0.10% | -1.52% |
Max Drawdown (3Y)Largest decline over 3 years | -2.31% | -0.10% | -2.21% |
Max Drawdown (5Y)Largest decline over 5 years | -11.39% | -0.73% | -10.66% |
Max Drawdown (10Y)Largest decline over 10 years | -18.40% | -3.94% | -14.46% |
Current DrawdownCurrent decline from peak | -0.12% | 0.00% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -2.56% | -0.08% | -2.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.39% | 0.01% | +0.38% |
Volatility
JMSIX vs. ICSH - Volatility Comparison
JPMorgan Income Fund (JMSIX) has a higher volatility of 0.79% compared to iShares Ultra Short Duration Bond Active ETF (ICSH) at 0.13%. This indicates that JMSIX's price experiences larger fluctuations and is considered to be riskier than ICSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JMSIX | ICSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 0.13% | +0.66% |
Volatility (6M)Calculated over the trailing 6-month period | 1.89% | 0.29% | +1.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.52% | 0.39% | +2.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.73% | 0.48% | +3.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.87% | 1.06% | +2.81% |
JMSIX vs. ICSH - Expense Ratio Comparison
JMSIX has a 0.40% expense ratio, which is higher than ICSH's 0.08% expense ratio.
Dividends
JMSIX vs. ICSH - Dividend Comparison
JMSIX's dividend yield for the trailing twelve months is around 6.03%, more than ICSH's 4.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICSH iShares Ultra Short Duration Bond Active ETF | 4.34% | 4.55% | 5.24% | 4.78% | 1.66% | 0.42% | 1.21% | 2.61% | 2.20% | 1.36% | 0.88% | 0.54% |
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
JMSIX and ICSH have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JMSIX has higher volatility (0.79%) compared to ICSH (0.13%). In terms of maximum drawdown, JMSIX dropped -18.40% vs ICSH's -3.94%.
ICSH currently has the higher Sharpe Ratio (10.98 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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