JSOSX vs. DHEAX

Last updated Jun 23, 2026

JSOSX (JPMorgan Strategic Income Opportunities Fund Class I) and DHEAX (Diamond Hill Short Duration Securitized Bond Fund) are both mutual funds - JSOSX is a Total Bond Market fund managed by JPMorgan, while DHEAX is a Short-Term Bond fund managed by Diamond Hill. Over the past 5 years, JSOSX returned 3.23%/yr vs 4.26%/yr for DHEAX. At a correlation of -0.04, they often move in opposite directions. JSOSX charges 0.77%/yr vs 0.83%/yr for DHEAX.

Performance

JSOSX vs. DHEAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Strategic Income Opportunities Fund Class I (JSOSX) and Diamond Hill Short Duration Securitized Bond Fund (DHEAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JSOSX achieves a 1.34% return, which is significantly lower than DHEAX's 1.75% return.

JSOSX

• 1D: 0.09%
• 1M: 0.37%
• YTD: 1.34%
• 6M: 1.41%
• 1Y: 3.40%
• 3Y*: 4.53%
• 5Y*: 3.23%
• 10Y*: 3.10%

DHEAX

• 1D: 0.10%
• 1M: 0.33%
• YTD: 1.75%
• 6M: 1.93%
• 1Y: 4.69%
• 3Y*: 7.45%
• 5Y*: 4.26%
• 10Y*: —

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

JSOSX vs. DHEAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JSOSX JPMorgan Strategic Income Opportunities Fund Class I	1.34%	3.70%	5.45%	5.25%	0.46%	0.64%	1.55%	3.97%	0.77%	3.34%
DHEAX Diamond Hill Short Duration Securitized Bond Fund	1.75%	5.70%	9.15%	8.38%	-3.57%	2.42%	2.87%	4.44%	2.88%	3.97%

Correlation

The correlation between JSOSX and DHEAX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	-0.07
Correlation (5Y) Calculated over the trailing 5-year period	-0.12
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	-0.04

The correlation between JSOSX and DHEAX shifts across timeframes, from -0.12 (5 years) to 0.28 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

JSOSX vs. DHEAX — Risk / Return Rank

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

JSOSX

JSOSX Risk / Return Rank: 99
JSOSX Sharpe Ratio Rank: 100
JSOSX Sortino Ratio Rank: 99
JSOSX Omega Ratio Rank: 99
JSOSX Calmar Ratio Rank: 99
JSOSX Martin Ratio Rank: 100

DHEAX

DHEAX Risk / Return Rank: 99
DHEAX Sharpe Ratio Rank: 99
DHEAX Sortino Ratio Rank: 98
DHEAX Omega Ratio Rank: 98
DHEAX Calmar Ratio Rank: 99
DHEAX Martin Ratio Rank: 99

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.

JSOSX vs. DHEAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Strategic Income Opportunities Fund Class I (JSOSX) and Diamond Hill Short Duration Securitized Bond Fund (DHEAX). 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.

	JSOSX	DHEAX	Difference
Sharpe ratio: Return per unit of total volatility	5.15	4.31	+0.84
Sortino ratio: Return per unit of downside risk	10.13	7.14	+3.00
Omega ratio: Gain probability vs. loss probability	3.93	2.41	+1.53
Calmar ratio: Return relative to maximum drawdown	13.36	9.63	+3.73
Martin ratio: Return relative to average drawdown	82.52	42.02	+40.50

JSOSX vs. DHEAX - Sharpe Ratio Comparison

The current JSOSX Sharpe Ratio is 5.15, which is comparable to the DHEAX Sharpe Ratio of 4.31. The chart below compares the historical Sharpe Ratios of JSOSX and DHEAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JSOSX vs. DHEAX - Drawdown Comparison

The maximum JSOSX drawdown since its inception was -6.40%, smaller than the maximum DHEAX drawdown of -12.34%. Use the drawdown chart below to compare losses from any high point for JSOSX and DHEAX.

Drawdown Indicators

	JSOSX	DHEAX	Difference
Max Drawdown Largest peak-to-trough decline	-6.40%	-12.34%	+5.94%
Max Drawdown (1Y) Largest decline over 1 year	-0.26%	-0.50%	+0.24%
Max Drawdown (3Y) Largest decline over 3 years	-0.44%	-0.50%	+0.06%
Max Drawdown (5Y) Largest decline over 5 years	-0.98%	-5.06%	+4.08%
Max Drawdown (10Y) Largest decline over 10 years	-6.19%	—	—
Current Drawdown Current decline from peak	0.00%	-0.10%	+0.10%
Average Drawdown Average peak-to-trough decline	-0.46%	-0.80%	+0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.04%	0.11%	-0.07%

Volatility

JSOSX vs. DHEAX - Volatility Comparison

The current volatility for JPMorgan Strategic Income Opportunities Fund Class I (JSOSX) is 0.17%, while Diamond Hill Short Duration Securitized Bond Fund (DHEAX) has a volatility of 0.31%. This indicates that JSOSX experiences smaller price fluctuations and is considered to be less risky than DHEAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JSOSX	DHEAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.17%	0.31%	-0.14%
Volatility (6M) Calculated over the trailing 6-month period	0.54%	0.75%	-0.21%
Volatility (1Y) Calculated over the trailing 1-year period	0.68%	1.12%	-0.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.79%	1.52%	-0.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.24%	2.26%	-1.02%

JSOSX vs. DHEAX - Expense Ratio Comparison

JSOSX has a 0.77% expense ratio, which is lower than DHEAX's 0.83% expense ratio.

Dividends

JSOSX vs. DHEAX - Dividend Comparison

JSOSX's dividend yield for the trailing twelve months is around 3.61%, less than DHEAX's 5.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DHEAX Diamond Hill Short Duration Securitized Bond Fund	5.63%	5.27%	5.94%	5.25%	3.41%	2.31%	2.92%	3.76%	3.45%	3.20%	0.00%	0.00%
JSOSX JPMorgan Strategic Income Opportunities Fund Class I	3.61%	3.82%	5.05%	4.77%	1.69%	0.55%	1.26%	2.85%	3.00%	3.21%	4.30%	3.44%

Frequently Asked Questions

Can I hold both JSOSX and DHEAX in my portfolio?

JSOSX and DHEAX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JSOSX or DHEAX?

DHEAX has higher volatility (0.31%) compared to JSOSX (0.17%). In terms of maximum drawdown, JSOSX dropped -6.40% vs DHEAX's -12.34%.

Which has better risk-adjusted returns?

JSOSX currently has the higher Sharpe Ratio (5.15 vs 4.31), 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.