JPHSX vs. JHEQX

Last updated Apr 2, 2026

Compare and contrast key facts about JPMorgan Floating Rate Income Fund (JPHSX) and JPMorgan Hedged Equity Fund Class I (JHEQX).

JPHSX is managed by JPMorgan. It was launched on May 31, 2011. JHEQX is managed by JPMorgan. It was launched on Dec 13, 2013.

Performance

JPHSX vs. JHEQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Floating Rate Income Fund (JPHSX) and JPMorgan Hedged Equity Fund Class I (JHEQX). The values are adjusted to include any dividend payments, if applicable.

JPHSX vs. JHEQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JPHSX JPMorgan Floating Rate Income Fund	-0.72%	0.89%	7.14%	11.07%	-2.13%	4.57%	1.28%	7.15%	-0.31%	3.05%
JHEQX JPMorgan Hedged Equity Fund Class I	-4.94%	7.49%	18.23%	16.07%	-8.05%	13.43%	14.10%	13.31%	-0.72%	12.70%

Returns By Period

In the year-to-date period, JPHSX achieves a -0.72% return, which is significantly higher than JHEQX's -4.94% return. Over the past 10 years, JPHSX has underperformed JHEQX with an annualized return of 3.86%, while JHEQX has yielded a comparatively higher 8.72% annualized return.

JPHSX

• 1D: 0.13%
• 1M: 0.13%
• YTD: -0.72%
• 6M: -0.29%
• 1Y: 1.30%
• 3Y*: 5.01%
• 5Y*: 3.73%
• 10Y*: 3.86%

JHEQX

• 1D: 0.75%
• 1M: -5.47%
• YTD: -4.94%
• 6M: -2.73%
• 1Y: 7.14%
• 3Y*: 9.50%
• 5Y*: 6.83%
• 10Y*: 8.72%

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

JPHSX vs. JHEQX - Expense Ratio Comparison

JPHSX has a 0.75% expense ratio, which is higher than JHEQX's 0.58% expense ratio.

JPHSX

JPMorgan Floating Rate Income Fund

JHEQX

JPMorgan Hedged Equity Fund Class I

Return for Risk

JPHSX vs. JHEQX — Risk / Return Rank

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

JPHSX

JPHSX Risk / Return Rank: 10
JPHSX Sharpe Ratio Rank: 11
JPHSX Sortino Ratio Rank: 8
JPHSX Omega Ratio Rank: 14
JPHSX Calmar Ratio Rank: 9
JPHSX Martin Ratio Rank: 10

JHEQX

JHEQX Risk / Return Rank: 34
JHEQX Sharpe Ratio Rank: 29
JHEQX Sortino Ratio Rank: 29
JHEQX Omega Ratio Rank: 33
JHEQX Calmar Ratio Rank: 40
JHEQX Martin Ratio Rank: 42

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.

JPHSX vs. JHEQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Floating Rate Income Fund (JPHSX) and JPMorgan Hedged Equity Fund Class I (JHEQX). 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.

	JPHSX	JHEQX	Difference
Sharpe ratio Return per unit of total volatility	0.42	0.72	-0.30
Sortino ratio Return per unit of downside risk	0.51	1.10	-0.59
Omega ratio Gain probability vs. loss probability	1.11	1.17	-0.06
Calmar ratio Return relative to maximum drawdown	0.35	1.07	-0.72
Martin ratio Return relative to average drawdown	1.23	4.43	-3.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPHSX vs. JHEQX - Sharpe Ratio Comparison

The current JPHSX Sharpe Ratio is 0.42, which is lower than the JHEQX Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of JPHSX and JHEQX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	JPHSX	JHEQX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.42	0.72	-0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.66	0.77	+0.89
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.06	0.93	+0.13
Sharpe Ratio (All Time) Calculated using the full available price history	1.06	0.84	+0.22

Correlation

The correlation between JPHSX and JHEQX is 0.31, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

JPHSX vs. JHEQX - Dividend Comparison

JPHSX's dividend yield for the trailing twelve months is around 7.05%, more than JHEQX's 0.64% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JPHSX JPMorgan Floating Rate Income Fund	7.05%	6.84%	9.21%	7.94%	5.12%	3.34%	3.88%	5.27%	4.57%	3.78%	4.49%	4.52%
JHEQX JPMorgan Hedged Equity Fund Class I	0.64%	0.65%	0.75%	0.98%	0.99%	0.71%	1.11%	1.11%	1.13%	0.99%	1.35%	1.21%

Drawdowns

JPHSX vs. JHEQX - Drawdown Comparison

The maximum JPHSX drawdown since its inception was -20.95%, which is greater than JHEQX's maximum drawdown of -18.85%. Use the drawdown chart below to compare losses from any high point for JPHSX and JHEQX.

Drawdown Indicators

	JPHSX	JHEQX	Difference
Max Drawdown Largest peak-to-trough decline	-20.95%	-18.85%	-2.10%
Max Drawdown (1Y) Largest decline over 1 year	-2.20%	-6.92%	+4.72%
Max Drawdown (5Y) Largest decline over 5 years	-6.84%	-14.34%	+7.50%
Max Drawdown (10Y) Largest decline over 10 years	-20.95%	-18.85%	-2.10%
Current Drawdown Current decline from peak	-1.03%	-6.19%	+5.16%
Average Drawdown Average peak-to-trough decline	-1.02%	-2.16%	+1.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.65%	1.67%	-1.02%

Volatility

JPHSX vs. JHEQX - Volatility Comparison

The current volatility for JPMorgan Floating Rate Income Fund (JPHSX) is 0.92%, while JPMorgan Hedged Equity Fund Class I (JHEQX) has a volatility of 2.81%. This indicates that JPHSX experiences smaller price fluctuations and is considered to be less risky than JHEQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPHSX	JHEQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.92%	2.81%	-1.89%
Volatility (6M) Calculated over the trailing 6-month period	1.81%	5.56%	-3.75%
Volatility (1Y) Calculated over the trailing 1-year period	2.86%	10.23%	-7.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.26%	8.89%	-6.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.65%	9.41%	-5.76%