JPGSX vs. IOLZX

Last updated Jun 4, 2026

JPGSX (JPMorgan U.S. GARP Equity Fund) and IOLZX (ICON Equity Fund) are both Large Cap Growth Equities funds. Over the past 10 years, JPGSX returned 18.60%/yr vs 14.51%/yr for IOLZX. Their correlation of 0.82 suggests significant overlap in exposure. JPGSX charges 0.59%/yr vs 1.04%/yr for IOLZX.

Performance

JPGSX vs. IOLZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan U.S. GARP Equity Fund (JPGSX) and ICON Equity Fund (IOLZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPGSX achieves a 9.43% return, which is significantly lower than IOLZX's 28.15% return. Over the past 10 years, JPGSX has outperformed IOLZX with an annualized return of 18.60%, while IOLZX has yielded a comparatively lower 14.51% annualized return.

JPGSX

• 1D: -0.38%
• 1M: 6.05%
• YTD: 9.43%
• 6M: 9.29%
• 1Y: 30.91%
• 3Y*: 28.65%
• 5Y*: 17.69%
• 10Y*: 18.60%

IOLZX

• 1D: 2.03%
• 1M: 8.48%
• YTD: 28.15%
• 6M: 30.91%
• 1Y: 50.12%
• 3Y*: 24.88%
• 5Y*: 11.20%
• 10Y*: 14.51%

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

JPGSX vs. IOLZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JPGSX JPMorgan U.S. GARP Equity Fund	9.43%	20.56%	39.85%	42.04%	-27.58%	30.71%	27.76%	29.24%	-3.44%	31.89%
IOLZX ICON Equity Fund	28.15%	15.81%	16.87%	12.13%	-17.78%	26.72%	16.00%	38.22%	-16.69%	26.78%

Correlation

The correlation between JPGSX and IOLZX is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Feb 4, 2004	0.82

Over the past year, the correlation between JPGSX and IOLZX has dropped to 0.57 - well below their long-term average of 0.82, suggesting their price drivers have been diverging.

Return for Risk

JPGSX vs. IOLZX — Risk / Return Rank

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

JPGSX

JPGSX Risk / Return Rank: 42
JPGSX Sharpe Ratio Rank: 51
JPGSX Sortino Ratio Rank: 45
JPGSX Omega Ratio Rank: 45
JPGSX Calmar Ratio Rank: 34
JPGSX Martin Ratio Rank: 35

IOLZX

IOLZX Risk / Return Rank: 76
IOLZX Sharpe Ratio Rank: 85
IOLZX Sortino Ratio Rank: 78
IOLZX Omega Ratio Rank: 68
IOLZX Calmar Ratio Rank: 80
IOLZX Martin Ratio Rank: 66

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.

JPGSX vs. IOLZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan U.S. GARP Equity Fund (JPGSX) and ICON Equity Fund (IOLZX). 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.

	JPGSX	IOLZX	Difference
Sharpe ratio: Return per unit of total volatility	2.10	2.77	-0.68
Sortino ratio: Return per unit of downside risk	2.81	3.71	-0.91
Omega ratio: Gain probability vs. loss probability	1.36	1.46	-0.10
Calmar ratio: Return relative to maximum drawdown	2.19	3.65	-1.46
Martin ratio: Return relative to average drawdown	7.81	12.92	-5.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPGSX vs. IOLZX - Sharpe Ratio Comparison

The current JPGSX Sharpe Ratio is 2.10, which is comparable to the IOLZX Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of JPGSX and IOLZX, 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

	JPGSX	IOLZX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.10	2.77	-0.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	0.53	+0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.90	0.65	+0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.41	+0.27

Drawdowns

JPGSX vs. IOLZX - Drawdown Comparison

The maximum JPGSX drawdown since its inception was -52.81%, smaller than the maximum IOLZX drawdown of -56.03%. Use the drawdown chart below to compare losses from any high point for JPGSX and IOLZX.

Drawdown Indicators

	JPGSX	IOLZX	Difference
Max Drawdown Largest peak-to-trough decline	-52.81%	-56.03%	+3.22%
Max Drawdown (1Y) Largest decline over 1 year	-14.59%	-14.35%	-0.24%
Max Drawdown (3Y) Largest decline over 3 years	-23.05%	-24.71%	+1.66%
Max Drawdown (5Y) Largest decline over 5 years	-31.18%	-27.77%	-3.41%
Max Drawdown (10Y) Largest decline over 10 years	-31.34%	-41.04%	+9.70%
Current Drawdown Current decline from peak	-0.38%	0.00%	-0.38%
Average Drawdown Average peak-to-trough decline	-7.25%	-12.63%	+5.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.08%	4.04%	+0.04%

Volatility

JPGSX vs. IOLZX - Volatility Comparison

The current volatility for JPMorgan U.S. GARP Equity Fund (JPGSX) is 3.31%, while ICON Equity Fund (IOLZX) has a volatility of 6.36%. This indicates that JPGSX experiences smaller price fluctuations and is considered to be less risky than IOLZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPGSX	IOLZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.31%	6.36%	-3.05%
Volatility (6M) Calculated over the trailing 6-month period	11.44%	14.98%	-3.54%
Volatility (1Y) Calculated over the trailing 1-year period	15.23%	18.86%	-3.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.84%	21.43%	-0.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.64%	22.36%	-1.72%

JPGSX vs. IOLZX - Expense Ratio Comparison

JPGSX has a 0.59% expense ratio, which is lower than IOLZX's 1.04% expense ratio.

Dividends

JPGSX vs. IOLZX - Dividend Comparison

JPGSX's dividend yield for the trailing twelve months is around 6.70%, less than IOLZX's 8.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IOLZX ICON Equity Fund	8.34%	10.69%	22.21%	4.75%	18.57%	14.12%	0.00%	3.46%	1.60%	0.00%	0.00%	0.00%
JPGSX JPMorgan U.S. GARP Equity Fund	6.70%	7.33%	11.15%	0.92%	4.30%	21.34%	9.65%	12.78%	12.46%	0.63%	0.90%	0.05%

Frequently Asked Questions

Can I hold both JPGSX and IOLZX in my portfolio?

JPGSX and IOLZX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPGSX or IOLZX?

IOLZX has higher volatility (6.36%) compared to JPGSX (3.31%). In terms of maximum drawdown, JPGSX dropped -52.81% vs IOLZX's -56.03%.

Which has better risk-adjusted returns?

IOLZX currently has the higher Sharpe Ratio (2.77 vs 2.10), 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.