JPM vs. FNMA
JPM (JPMorgan Chase & Co.) and FNMA (Federal National Mortgage Association) are both stocks. Both are in the Financial Services sector — JPM in Banks - Diversified, FNMA in Mortgage Finance. Over the past 10 years, JPM returned 21.02%/yr vs 12.27%/yr for FNMA. At a 0.32 correlation, their price movements are largely independent.
Performance
JPM vs. FNMA - Performance Comparison
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Returns By Period
In the year-to-date period, JPM achieves a 0.50% return, which is significantly higher than FNMA's -39.52% return. Over the past 10 years, JPM has outperformed FNMA with an annualized return of 21.02%, while FNMA has yielded a comparatively lower 12.27% annualized return.
JPM
- 1D
- 2.31%
- 1M
- 7.69%
- YTD
- 0.50%
- 6M
- 1.66%
- 1Y
- 23.40%
- 3Y*
- 34.22%
- 5Y*
- 17.82%
- 10Y*
- 21.02%
FNMA
- 1D
- 2.72%
- 1M
- -16.90%
- YTD
- -39.52%
- 6M
- -39.35%
- 1Y
- -32.56%
- 3Y*
- 145.80%
- 5Y*
- 22.01%
- 10Y*
- 12.27%
JPM vs. FNMA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JPM JPMorgan Chase & Co. | 0.50% | 37.27% | 44.29% | 30.63% | -12.64% | 27.75% | -5.53% | 47.26% | -6.62% | 26.76% |
FNMA Federal National Mortgage Association | -39.52% | 227.13% | 206.54% | 202.77% | -56.90% | -65.69% | -23.40% | 194.34% | -60.00% | -32.05% |
Correlation
The correlation between JPM and FNMA is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Dec 30, 1983 | 0.32 |
Over the past year, the correlation between JPM and FNMA has dropped to 0.09 - well below their long-term average of 0.32, suggesting their price drivers have been diverging.
Fundamentals
JPM:
$896.00B
FNMA:
$38.25B
JPM:
$21.08
FNMA:
$2.77
JPM:
15.21
FNMA:
2.34
JPM:
1.68
FNMA:
0.00
JPM:
3.14
FNMA:
0.24
JPM:
$285.09B
FNMA:
$161.03B
JPM:
$173.52B
FNMA:
$117.99B
JPM:
$81.46B
FNMA:
$111.39B
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Return for Risk
JPM vs. FNMA — Risk / Return Rank
JPM
FNMA
JPM vs. FNMA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Chase & Co. (JPM) and Federal National Mortgage Association (FNMA). 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.
| JPM | FNMA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.38 | ||
| Sortino ratioReturn per unit of downside risk | +1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.00 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.42 | -0.49 | +1.91 |
| Martin ratioReturn relative to average drawdown | 3.36 | -0.91 | +4.27 |
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Drawdowns
JPM vs. FNMA - Drawdown Comparison
The maximum JPM drawdown since its inception was -76.16%, smaller than the maximum FNMA drawdown of -99.74%. Use the drawdown chart below to compare losses from any high point for JPM and FNMA.
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Drawdown Indicators
| JPM | FNMA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.16% | -99.74% | +23.58% |
Max Drawdown (1Y)Largest decline over 1 year | -15.47% | -69.76% | +54.29% |
Max Drawdown (3Y)Largest decline over 3 years | -24.42% | -69.76% | +45.34% |
Max Drawdown (5Y)Largest decline over 5 years | -38.77% | -84.50% | +45.73% |
Max Drawdown (10Y)Largest decline over 10 years | -43.63% | -92.13% | +48.50% |
Current DrawdownCurrent decline from peak | -3.66% | -91.14% | +87.48% |
Average DrawdownAverage peak-to-trough decline | -17.62% | -46.18% | +28.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.54% | 37.56% | -31.02% |
Volatility
JPM vs. FNMA - Volatility Comparison
The current volatility for JPMorgan Chase & Co. (JPM) is 6.35%, while Federal National Mortgage Association (FNMA) has a volatility of 18.31%. This indicates that JPM experiences smaller price fluctuations and is considered to be less risky than FNMA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPM | FNMA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.35% | 18.31% | -11.96% |
Volatility (6M)Calculated over the trailing 6-month period | 16.67% | 66.11% | -49.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.76% | 93.38% | -71.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.46% | 91.93% | -67.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.39% | 81.90% | -54.51% |
Dividends
JPM vs. FNMA - Dividend Comparison
JPM's dividend yield for the trailing twelve months is around 1.84%, while FNMA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNMA Federal National Mortgage Association | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JPM JPMorgan Chase & Co. | 1.84% | 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. FNMA - Financials Comparison
This section allows you to compare key financial metrics between JPMorgan Chase & Co. and Federal National Mortgage Association. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
JPM vs. FNMA - Profitability Comparison
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%.
FNMA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Federal National Mortgage Association reported a gross profit of 0.00 and revenue of 40.22B. Therefore, the gross margin over that period was 0.0%.
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%.
FNMA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Federal National Mortgage Association reported an operating income of 0.00 and revenue of 40.22B, resulting in an operating margin of 0.0%.
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%.
FNMA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Federal National Mortgage Association reported a net income of 5.61B and revenue of 40.22B, resulting in a net margin of 13.9%.
Frequently Asked Questions
JPM and FNMA have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNMA has higher volatility (18.31%) compared to JPM (6.35%). In terms of maximum drawdown, JPM dropped -76.16% vs FNMA's -99.74%.
JPM currently has the higher Sharpe Ratio (1.01 vs -0.37), 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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