JMSIX vs. IEF
JMSIX (JPMorgan Income Fund) and IEF (iShares 7-10 Year Treasury Bond ETF) are both funds - JMSIX is a Multisector Bonds fund managed by JPMorgan, while IEF is a Government Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index. Over the past 10 years, JMSIX returned 3.97%/yr vs 0.59%/yr for IEF. At a 0.47 correlation, their price movements are largely independent. JMSIX charges 0.40%/yr vs 0.15%/yr for IEF.
Performance
JMSIX vs. IEF - Performance Comparison
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Returns By Period
In the year-to-date period, JMSIX achieves a 1.23% return, which is significantly higher than IEF's -0.47% return. Over the past 10 years, JMSIX has outperformed IEF with an annualized return of 3.97%, while IEF has yielded a comparatively lower 0.59% 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%
IEF
- 1D
- -0.17%
- 1M
- 0.19%
- YTD
- -0.47%
- 6M
- -0.18%
- 1Y
- 3.39%
- 3Y*
- 2.86%
- 5Y*
- -1.24%
- 10Y*
- 0.59%
JMSIX vs. IEF - 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% |
IEF iShares 7-10 Year Treasury Bond ETF | -0.47% | 8.03% | -0.63% | 3.64% | -15.15% | -3.33% | 10.01% | 8.03% | 0.99% | 2.55% |
Correlation
The correlation between JMSIX and IEF is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014 | 0.47 |
Over the past year, JMSIX and IEF have become more correlated (0.69) than their long-term average of 0.47, meaning their price movements have been converging.
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Return for Risk
JMSIX vs. IEF — Risk / Return Rank
JMSIX
IEF
JMSIX vs. IEF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Income Fund (JMSIX) and iShares 7-10 Year Treasury Bond ETF (IEF). 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 | IEF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.54 | ||
| Sortino ratioReturn per unit of downside risk | +3.40 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.12 | +0.47 |
| Calmar ratioReturn relative to maximum drawdown | 3.51 | 0.84 | +2.67 |
| Martin ratioReturn relative to average drawdown | 14.54 | 2.35 | +12.20 |
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Drawdowns
JMSIX vs. IEF - Drawdown Comparison
The maximum JMSIX drawdown since its inception was -18.40%, smaller than the maximum IEF drawdown of -23.93%. Use the drawdown chart below to compare losses from any high point for JMSIX and IEF.
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Drawdown Indicators
| JMSIX | IEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.40% | -23.93% | +5.53% |
Max Drawdown (1Y)Largest decline over 1 year | -1.62% | -4.07% | +2.45% |
Max Drawdown (3Y)Largest decline over 3 years | -2.31% | -7.74% | +5.43% |
Max Drawdown (5Y)Largest decline over 5 years | -11.39% | -21.40% | +10.01% |
Max Drawdown (10Y)Largest decline over 10 years | -18.40% | -23.93% | +5.53% |
Current DrawdownCurrent decline from peak | -0.12% | -11.18% | +11.06% |
Average DrawdownAverage peak-to-trough decline | -2.56% | -5.35% | +2.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.39% | 1.45% | -1.06% |
Volatility
JMSIX vs. IEF - Volatility Comparison
The current volatility for JPMorgan Income Fund (JMSIX) is 0.79%, while iShares 7-10 Year Treasury Bond ETF (IEF) has a volatility of 1.62%. This indicates that JMSIX experiences smaller price fluctuations and is considered to be less risky than IEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JMSIX | IEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 1.62% | -0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 1.89% | 3.42% | -1.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.52% | 4.72% | -2.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.73% | 7.71% | -3.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.87% | 6.63% | -2.76% |
JMSIX vs. IEF - Expense Ratio Comparison
JMSIX has a 0.40% expense ratio, which is higher than IEF's 0.15% expense ratio.
Dividends
JMSIX vs. IEF - Dividend Comparison
JMSIX's dividend yield for the trailing twelve months is around 6.03%, more than IEF's 3.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEF iShares 7-10 Year Treasury Bond ETF | 3.89% | 3.77% | 3.62% | 2.91% | 1.96% | 0.83% | 1.08% | 2.08% | 2.24% | 1.82% | 1.81% | 1.90% |
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 IEF have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IEF has higher volatility (1.62%) compared to JMSIX (0.79%). In terms of maximum drawdown, JMSIX dropped -18.40% vs IEF's -23.93%.
JMSIX currently has the higher Sharpe Ratio (2.27 vs 0.72), 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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