JNSSX vs. IRSOX

Last updated Jun 4, 2026

JNSSX (JPMorgan SmartRetirement 2025 Fund) and IRSOX (Voya Target Retirement 2040 Fund) are both Target Retirement Date funds. Over the past 10 years, JNSSX returned 8.20%/yr vs 11.24%/yr for IRSOX. With a 0.96 correlation, they move nearly in lockstep. JNSSX charges 0.25%/yr vs 0.23%/yr for IRSOX.

Performance

JNSSX vs. IRSOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan SmartRetirement 2025 Fund (JNSSX) and Voya Target Retirement 2040 Fund (IRSOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JNSSX achieves a 5.04% return, which is significantly lower than IRSOX's 11.67% return. Over the past 10 years, JNSSX has underperformed IRSOX with an annualized return of 8.20%, while IRSOX has yielded a comparatively higher 11.24% annualized return.

JNSSX

• 1D: 0.11%
• 1M: 2.06%
• YTD: 5.04%
• 6M: 5.25%
• 1Y: 14.03%
• 3Y*: 10.93%
• 5Y*: 4.73%
• 10Y*: 8.20%

IRSOX

• 1D: 0.35%
• 1M: 5.13%
• YTD: 11.67%
• 6M: 12.45%
• 1Y: 26.71%
• 3Y*: 18.38%
• 5Y*: 9.48%
• 10Y*: 11.24%

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

JNSSX vs. IRSOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JNSSX JPMorgan SmartRetirement 2025 Fund	5.04%	12.40%	5.15%	16.88%	-15.77%	8.48%	11.70%	32.55%	-6.66%	16.15%
IRSOX Voya Target Retirement 2040 Fund	11.67%	19.10%	13.74%	19.25%	-18.43%	17.65%	16.93%	23.69%	-8.31%	20.15%

Correlation

The correlation between JNSSX and IRSOX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Dec 26, 2012	0.96

The correlation between JNSSX and IRSOX has been stable across timeframes, ranging from 0.87 to 0.96 - a consistent structural relationship.

Return for Risk

JNSSX vs. IRSOX — Risk / Return Rank

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

JNSSX

JNSSX Risk / Return Rank: 58
JNSSX Sharpe Ratio Rank: 59
JNSSX Sortino Ratio Rank: 61
JNSSX Omega Ratio Rank: 61
JNSSX Calmar Ratio Rank: 49
JNSSX Martin Ratio Rank: 59

IRSOX

IRSOX Risk / Return Rank: 82
IRSOX Sharpe Ratio Rank: 85
IRSOX Sortino Ratio Rank: 83
IRSOX Omega Ratio Rank: 78
IRSOX Calmar Ratio Rank: 78
IRSOX Martin Ratio Rank: 87

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.

JNSSX vs. IRSOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan SmartRetirement 2025 Fund (JNSSX) and Voya Target Retirement 2040 Fund (IRSOX). 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.

	JNSSX	IRSOX	Difference
Sharpe ratio Return per unit of total volatility	2.26	2.75	-0.49
Sortino ratio Return per unit of downside risk	3.27	3.99	-0.72
Omega ratio Gain probability vs. loss probability	1.44	1.51	-0.07
Calmar ratio Return relative to maximum drawdown	2.67	3.53	-0.86
Martin ratio Return relative to average drawdown	11.69	16.89	-5.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JNSSX vs. IRSOX - Sharpe Ratio Comparison

The current JNSSX Sharpe Ratio is 2.26, which is comparable to the IRSOX Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of JNSSX and IRSOX, 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

	JNSSX	IRSOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.26	2.75	-0.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.70	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	0.77	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.75	-0.26

Drawdowns

JNSSX vs. IRSOX - Drawdown Comparison

The maximum JNSSX drawdown since its inception was -46.46%, which is greater than IRSOX's maximum drawdown of -31.25%. Use the drawdown chart below to compare losses from any high point for JNSSX and IRSOX.

Drawdown Indicators

	JNSSX	IRSOX	Difference
Max Drawdown Largest peak-to-trough decline	-46.46%	-31.25%	-15.21%
Max Drawdown (1Y) Largest decline over 1 year	-5.33%	-8.38%	+3.05%
Max Drawdown (3Y) Largest decline over 3 years	-7.42%	-13.84%	+6.42%
Max Drawdown (5Y) Largest decline over 5 years	-20.88%	-25.24%	+4.36%
Max Drawdown (10Y) Largest decline over 10 years	-22.07%	-31.25%	+9.18%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.90%	-4.28%	-1.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.21%	1.69%	-0.48%

Volatility

JNSSX vs. IRSOX - Volatility Comparison

The current volatility for JPMorgan SmartRetirement 2025 Fund (JNSSX) is 2.14%, while Voya Target Retirement 2040 Fund (IRSOX) has a volatility of 3.36%. This indicates that JNSSX experiences smaller price fluctuations and is considered to be less risky than IRSOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JNSSX	IRSOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.14%	3.36%	-1.22%
Volatility (6M) Calculated over the trailing 6-month period	5.13%	8.82%	-3.69%
Volatility (1Y) Calculated over the trailing 1-year period	6.28%	10.75%	-4.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.71%	13.87%	-5.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.01%	14.80%	-4.79%

JNSSX vs. IRSOX - Expense Ratio Comparison

JNSSX has a 0.25% expense ratio, which is higher than IRSOX's 0.23% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

JNSSX vs. IRSOX - Dividend Comparison

JNSSX's dividend yield for the trailing twelve months is around 6.90%, less than IRSOX's 12.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IRSOX Voya Target Retirement 2040 Fund	12.27%	13.71%	2.25%	2.13%	6.01%	17.52%	3.71%	4.14%	5.84%	5.86%	1.98%	0.41%
JNSSX JPMorgan SmartRetirement 2025 Fund	6.90%	7.25%	4.61%	2.83%	7.11%	12.43%	4.59%	23.92%	5.71%	3.96%	2.92%	3.22%

Frequently Asked Questions

Can I hold both JNSSX and IRSOX in my portfolio?

JNSSX and IRSOX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JNSSX or IRSOX?

IRSOX has higher volatility (3.36%) compared to JNSSX (2.14%). In terms of maximum drawdown, JNSSX dropped -46.46% vs IRSOX's -31.25%.

Which has better risk-adjusted returns?

IRSOX currently has the higher Sharpe Ratio (2.75 vs 2.26), 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.