MAIPX vs. JHQDX

Last updated Jun 5, 2026

MAIPX (MAI Managed Volatility Fund) and JHQDX (JPMorgan Hedged Equity 2 Fund Class I) are both Options Trading funds. Over the past 5 years, MAIPX returned 7.52%/yr vs 7.85%/yr for JHQDX. Their correlation of 0.85 suggests significant overlap in exposure. MAIPX charges 0.99%/yr vs 0.60%/yr for JHQDX.

Performance

MAIPX vs. JHQDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MAI Managed Volatility Fund (MAIPX) and JPMorgan Hedged Equity 2 Fund Class I (JHQDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with MAIPX having a 5.81% return and JHQDX slightly lower at 5.79%.

MAIPX

• 1D: -0.11%
• 1M: 1.63%
• YTD: 5.81%
• 6M: 6.00%
• 1Y: 13.62%
• 3Y*: 10.14%
• 5Y*: 7.52%
• 10Y*: 7.29%

JHQDX

• 1D: -0.24%
• 1M: 1.25%
• YTD: 5.79%
• 6M: 5.90%
• 1Y: 13.61%
• 3Y*: 11.51%
• 5Y*: 7.85%
• 10Y*: —

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

MAIPX vs. JHQDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MAIPX MAI Managed Volatility Fund	5.81%	10.28%	8.64%	10.58%	-3.59%	11.85%
JHQDX JPMorgan Hedged Equity 2 Fund Class I	5.79%	7.56%	18.03%	15.26%	-13.30%	14.40%

Correlation

The correlation between MAIPX and JHQDX is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Mar 1, 2021	0.85

The correlation between MAIPX and JHQDX shifts across timeframes, from 0.75 (1 year) to 0.86 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

MAIPX vs. JHQDX — Risk / Return Rank

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

MAIPX

MAIPX Risk / Return Rank: 92
MAIPX Sharpe Ratio Rank: 90
MAIPX Sortino Ratio Rank: 92
MAIPX Omega Ratio Rank: 91
MAIPX Calmar Ratio Rank: 89
MAIPX Martin Ratio Rank: 97

JHQDX

JHQDX Risk / Return Rank: 50
JHQDX Sharpe Ratio Rank: 47
JHQDX Sortino Ratio Rank: 46
JHQDX Omega Ratio Rank: 55
JHQDX Calmar Ratio Rank: 45
JHQDX Martin Ratio Rank: 57

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.

MAIPX vs. JHQDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MAI Managed Volatility Fund (MAIPX) and JPMorgan Hedged Equity 2 Fund Class I (JHQDX). 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.

	MAIPX	JHQDX	Difference
Sharpe ratio: Return per unit of total volatility	2.94	2.02	+0.92
Sortino ratio: Return per unit of downside risk	4.58	2.87	+1.72
Omega ratio: Gain probability vs. loss probability	1.68	1.41	+0.28
Calmar ratio: Return relative to maximum drawdown	4.46	2.55	+1.91
Martin ratio: Return relative to average drawdown	26.34	11.42	+14.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MAIPX vs. JHQDX - Sharpe Ratio Comparison

The current MAIPX Sharpe Ratio is 2.94, which is higher than the JHQDX Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of MAIPX and JHQDX, 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

	MAIPX	JHQDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.94	2.02	+0.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	0.90	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.99	-0.31

Drawdowns

MAIPX vs. JHQDX - Drawdown Comparison

The maximum MAIPX drawdown since its inception was -25.69%, which is greater than JHQDX's maximum drawdown of -15.25%. Use the drawdown chart below to compare losses from any high point for MAIPX and JHQDX.

Drawdown Indicators

	MAIPX	JHQDX	Difference
Max Drawdown Largest peak-to-trough decline	-25.69%	-15.25%	-10.44%
Max Drawdown (1Y) Largest decline over 1 year	-3.10%	-5.41%	+2.31%
Max Drawdown (3Y) Largest decline over 3 years	-11.77%	-9.27%	-2.50%
Max Drawdown (5Y) Largest decline over 5 years	-11.77%	-15.25%	+3.48%
Max Drawdown (10Y) Largest decline over 10 years	-25.69%	—	—
Current Drawdown Current decline from peak	-0.23%	-0.33%	+0.10%
Average Drawdown Average peak-to-trough decline	-1.42%	-3.23%	+1.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	1.21%	-0.69%

Volatility

MAIPX vs. JHQDX - Volatility Comparison

The current volatility for MAI Managed Volatility Fund (MAIPX) is 0.91%, while JPMorgan Hedged Equity 2 Fund Class I (JHQDX) has a volatility of 1.09%. This indicates that MAIPX experiences smaller price fluctuations and is considered to be less risky than JHQDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAIPX	JHQDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.91%	1.09%	-0.18%
Volatility (6M) Calculated over the trailing 6-month period	3.94%	5.52%	-1.58%
Volatility (1Y) Calculated over the trailing 1-year period	4.70%	6.82%	-2.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.85%	8.78%	+0.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.97%	8.65%	+2.32%

MAIPX vs. JHQDX - Expense Ratio Comparison

MAIPX has a 0.99% expense ratio, which is higher than JHQDX's 0.60% expense ratio.

Dividends

MAIPX vs. JHQDX - Dividend Comparison

MAIPX's dividend yield for the trailing twelve months is around 1.14%, more than JHQDX's 0.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JHQDX JPMorgan Hedged Equity 2 Fund Class I	0.47%	0.50%	0.75%	0.96%	6.91%	0.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MAIPX MAI Managed Volatility Fund	1.14%	1.33%	2.20%	4.59%	2.26%	0.00%	0.32%	1.74%	2.89%	2.12%	0.80%	4.17%

Frequently Asked Questions

Can I hold both MAIPX and JHQDX in my portfolio?

MAIPX and JHQDX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAIPX or JHQDX?

JHQDX has higher volatility (1.09%) compared to MAIPX (0.91%). In terms of maximum drawdown, MAIPX dropped -25.69% vs JHQDX's -15.25%.

Which has better risk-adjusted returns?

MAIPX currently has the higher Sharpe Ratio (2.94 vs 2.02), 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.