JPM vs. AFL

Last updated Jun 9, 2026

JPM (JPMorgan Chase & Co.) and AFL (Aflac Incorporated) are both stocks. Both are in the Financial Services sector — JPM in Banks - Diversified, AFL in Insurance - Life. Over the past 10 years, JPM returned 20.32%/yr vs 15.48%/yr for AFL. At a 0.42 correlation, their price movements are largely independent.

Performance

JPM vs. AFL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Chase & Co. (JPM) and Aflac Incorporated (AFL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPM achieves a -2.52% return, which is significantly lower than AFL's 5.61% return. Over the past 10 years, JPM has outperformed AFL with an annualized return of 20.32%, while AFL has yielded a comparatively lower 15.48% annualized return.

JPM

• 1D: -0.40%
• 1M: 2.98%
• YTD: -2.52%
• 6M: -0.35%
• 1Y: 19.35%
• 3Y*: 33.18%
• 5Y*: 16.72%
• 10Y*: 20.32%

AFL

• 1D: -2.54%
• 1M: 2.42%
• YTD: 5.61%
• 6M: 7.77%
• 1Y: 13.52%
• 3Y*: 21.24%
• 5Y*: 17.94%
• 10Y*: 15.48%

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

JPM vs. AFL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JPM JPMorgan Chase & Co.	-2.52%	37.27%	44.29%	30.63%	-12.64%	27.75%	-5.53%	47.26%	-6.62%	26.76%
AFL Aflac Incorporated	5.61%	8.94%	28.08%	17.36%	26.41%	34.55%	-13.60%	18.55%	6.20%	29.02%

Correlation

The correlation between JPM and AFL is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Jul 19, 1984	0.42

The correlation between JPM and AFL shifts across timeframes, from 0.27 (1 year) to 0.60 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap JPM : $869.15B AFL : $59.32B
EPS JPM : $21.08 AFL : $8.76
PE Ratio JPM : 14.76 AFL : 13.16
PEG Ratio JPM : 1.63 AFL : 3.41
PS Ratio JPM : 3.05 AFL : 3.35
PB Ratio JPM : 2.53 AFL : 2.64
Total Revenue (TTM) JPM : $285.09B AFL : $18.22B
Gross Profit (TTM) JPM : $173.52B AFL : $8.70B
EBITDA (TTM) JPM : $81.46B AFL : $6.67B

Return for Risk

JPM vs. AFL — Risk / Return Rank

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

JPM

JPM Risk / Return Rank: 66
JPM Sharpe Ratio Rank: 70
JPM Sortino Ratio Rank: 62
JPM Omega Ratio Rank: 62
JPM Calmar Ratio Rank: 66
JPM Martin Ratio Rank: 67

AFL

AFL Risk / Return Rank: 65
AFL Sharpe Ratio Rank: 68
AFL Sortino Ratio Rank: 61
AFL Omega Ratio Rank: 58
AFL Calmar Ratio Rank: 70
AFL Martin Ratio Rank: 71

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.

JPM vs. AFL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Chase & Co. (JPM) and Aflac Incorporated (AFL). 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.

	JPM	AFL	Difference
Sharpe ratio: Return per unit of total volatility	0.90	0.80	+0.10
Sortino ratio: Return per unit of downside risk	1.30	1.23	+0.07
Omega ratio: Gain probability vs. loss probability	1.17	1.14	+0.02
Calmar ratio: Return relative to maximum drawdown	1.26	1.49	-0.23
Martin ratio: Return relative to average drawdown	2.98	3.70	-0.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPM vs. AFL - Sharpe Ratio Comparison

The current JPM Sharpe Ratio is 0.90, which is comparable to the AFL Sharpe Ratio of 0.80. The chart below compares the historical Sharpe Ratios of JPM and AFL, 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

	JPM	AFL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.90	0.80	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.86	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	0.60	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.48	-0.14

Drawdowns

JPM vs. AFL - Drawdown Comparison

The maximum JPM drawdown since its inception was -76.16%, smaller than the maximum AFL drawdown of -82.71%. Use the drawdown chart below to compare losses from any high point for JPM and AFL.

Drawdown Indicators

	JPM	AFL	Difference
Max Drawdown Largest peak-to-trough decline	-76.16%	-82.71%	+6.55%
Max Drawdown (1Y) Largest decline over 1 year	-15.47%	-9.11%	-6.36%
Max Drawdown (3Y) Largest decline over 3 years	-24.42%	-13.56%	-10.86%
Max Drawdown (5Y) Largest decline over 5 years	-38.77%	-19.86%	-18.91%
Max Drawdown (10Y) Largest decline over 10 years	-43.63%	-54.89%	+11.26%
Current Drawdown Current decline from peak	-6.55%	-2.54%	-4.01%
Average Drawdown Average peak-to-trough decline	-17.62%	-11.66%	-5.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.50%	3.67%	+2.83%

Volatility

JPM vs. AFL - Volatility Comparison

JPMorgan Chase & Co. (JPM) has a higher volatility of 6.40% compared to Aflac Incorporated (AFL) at 5.82%. This indicates that JPM's price experiences larger fluctuations and is considered to be riskier than AFL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPM	AFL	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.40%	5.82%	+0.58%
Volatility (6M) Calculated over the trailing 6-month period	17.38%	12.24%	+5.14%
Volatility (1Y) Calculated over the trailing 1-year period	21.62%	17.08%	+4.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.45%	20.94%	+3.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.40%	25.77%	+1.63%

Dividends

JPM vs. AFL - Dividend Comparison

JPM's dividend yield for the trailing twelve months is around 1.90%, less than AFL's 2.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AFL Aflac Incorporated	2.07%	2.10%	1.93%	2.04%	2.22%	2.26%	2.52%	2.04%	2.28%	1.98%	2.39%	2.64%
JPM JPMorgan Chase & Co.	1.90%	1.72%	1.92%	2.38%	2.98%	2.34%	2.83%	2.37%	2.54%	1.91%	2.13%	2.54%

Financials

JPM vs. AFL - Profitability Comparison

The chart below illustrates the profitability comparison between JPMorgan Chase & Co. and Aflac Incorporated over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

JPM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, JPMorgan Chase & Co. reported a gross profit of 47.33B and revenue of 73.66B. Therefore, the gross margin over that period was 64.3%.

AFL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Aflac Incorporated reported a gross profit of 2.48B and revenue of 4.32B. Therefore, the gross margin over that period was 57.5%.

JPM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, JPMorgan Chase & Co. reported an operating income of 20.48B and revenue of 73.66B, resulting in an operating margin of 27.8%.

AFL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Aflac Incorporated reported an operating income of 1.23B and revenue of 4.32B, resulting in an operating margin of 28.4%.

JPM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, JPMorgan Chase & Co. reported a net income of 16.49B and revenue of 73.66B, resulting in a net margin of 22.4%.

AFL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Aflac Incorporated reported a net income of 1.02B and revenue of 4.32B, resulting in a net margin of 23.6%.

Frequently Asked Questions

Can I hold both JPM and AFL in my portfolio?

JPM and AFL have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPM or AFL?

JPM has higher volatility (6.40%) compared to AFL (5.82%). In terms of maximum drawdown, JPM dropped -76.16% vs AFL's -82.71%.

Which has better risk-adjusted returns?

JPM currently has the higher Sharpe Ratio (0.90 vs 0.80), 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.