MNHAX vs. JHQAX

Last updated Apr 1, 2026

Compare and contrast key facts about Manning & Napier High Yield Bond I (MNHAX) and JPMorgan Hedged Equity Fund (JHQAX).

MNHAX is managed by Manning & Napier. It was launched on Aug 1, 2012. JHQAX is managed by JPMorgan. It was launched on Dec 13, 2013.

Performance

MNHAX vs. JHQAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Manning & Napier High Yield Bond I (MNHAX) and JPMorgan Hedged Equity Fund (JHQAX). The values are adjusted to include any dividend payments, if applicable.

MNHAX vs. JHQAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MNHAX Manning & Napier High Yield Bond I	-1.67%	6.90%	9.29%	13.49%	-7.38%	10.27%	6.58%	14.25%	-0.98%	8.68%
JHQAX JPMorgan Hedged Equity Fund	-5.70%	7.22%	17.93%	15.78%	-8.27%	13.13%	13.77%	13.38%	-0.93%	12.45%

Returns By Period

In the year-to-date period, MNHAX achieves a -1.67% return, which is significantly higher than JHQAX's -5.70% return. Over the past 10 years, MNHAX has underperformed JHQAX with an annualized return of 6.73%, while JHQAX has yielded a comparatively higher 8.40% annualized return.

MNHAX

• 1D: 0.32%
• 1M: -2.47%
• YTD: -1.67%
• 6M: -0.40%
• 1Y: 4.27%
• 3Y*: 8.42%
• 5Y*: 5.33%
• 10Y*: 6.73%

JHQAX

• 1D: -0.27%
• 1M: -6.23%
• YTD: -5.70%
• 6M: -3.39%
• 1Y: 6.30%
• 3Y*: 8.96%
• 5Y*: 6.52%
• 10Y*: 8.40%

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

MNHAX vs. JHQAX - Expense Ratio Comparison

MNHAX has a 0.66% expense ratio, which is lower than JHQAX's 0.83% expense ratio.

JHQAX

JPMorgan Hedged Equity Fund

MNHAX

Manning & Napier High Yield Bond I

Return for Risk

MNHAX vs. JHQAX — Risk / Return Rank

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

MNHAX

MNHAX Risk / Return Rank: 53
MNHAX Sharpe Ratio Rank: 61
MNHAX Sortino Ratio Rank: 51
MNHAX Omega Ratio Rank: 65
MNHAX Calmar Ratio Rank: 44
MNHAX Martin Ratio Rank: 42

JHQAX

JHQAX Risk / Return Rank: 26
JHQAX Sharpe Ratio Rank: 26
JHQAX Sortino Ratio Rank: 26
JHQAX Omega Ratio Rank: 29
JHQAX Calmar Ratio Rank: 22
JHQAX Martin Ratio Rank: 26

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.

MNHAX vs. JHQAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Manning & Napier High Yield Bond I (MNHAX) and JPMorgan Hedged Equity Fund (JHQAX). 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.

	MNHAX	JHQAX	Difference
Sharpe ratio Return per unit of total volatility	1.09	0.62	+0.47
Sortino ratio Return per unit of downside risk	1.40	0.97	+0.44
Omega ratio Gain probability vs. loss probability	1.24	1.15	+0.10
Calmar ratio Return relative to maximum drawdown	1.10	0.66	+0.44
Martin ratio Return relative to average drawdown	4.36	2.79	+1.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MNHAX vs. JHQAX - Sharpe Ratio Comparison

The current MNHAX Sharpe Ratio is 1.09, which is higher than the JHQAX Sharpe Ratio of 0.62. The chart below compares the historical Sharpe Ratios of MNHAX and JHQAX, 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

	MNHAX	JHQAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.09	0.62	+0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.74	-0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.90	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.81	-0.15

Correlation

The correlation between MNHAX and JHQAX is 0.37, 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

MNHAX vs. JHQAX - Dividend Comparison

MNHAX's dividend yield for the trailing twelve months is around 6.64%, more than JHQAX's 0.39% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MNHAX Manning & Napier High Yield Bond I	6.64%	7.29%	7.02%	8.59%	7.61%	9.81%	6.26%	8.24%	6.38%	6.20%	7.68%	6.64%
JHQAX JPMorgan Hedged Equity Fund	0.39%	0.41%	0.51%	0.74%	0.74%	0.50%	0.89%	1.18%	0.92%	0.76%	1.11%	0.97%

Drawdowns

MNHAX vs. JHQAX - Drawdown Comparison

The maximum MNHAX drawdown since its inception was -20.13%, which is greater than JHQAX's maximum drawdown of -18.82%. Use the drawdown chart below to compare losses from any high point for MNHAX and JHQAX.

Drawdown Indicators

	MNHAX	JHQAX	Difference
Max Drawdown Largest peak-to-trough decline	-20.13%	-18.82%	-1.31%
Max Drawdown (1Y) Largest decline over 1 year	-3.40%	-6.94%	+3.54%
Max Drawdown (5Y) Largest decline over 5 years	-20.13%	-14.48%	-5.65%
Max Drawdown (10Y) Largest decline over 10 years	-20.13%	-18.82%	-1.31%
Current Drawdown Current decline from peak	-14.06%	-6.91%	-7.15%
Average Drawdown Average peak-to-trough decline	-3.41%	-2.20%	-1.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	1.64%	-0.78%

Volatility

MNHAX vs. JHQAX - Volatility Comparison

The current volatility for Manning & Napier High Yield Bond I (MNHAX) is 1.68%, while JPMorgan Hedged Equity Fund (JHQAX) has a volatility of 2.63%. This indicates that MNHAX experiences smaller price fluctuations and is considered to be less risky than JHQAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MNHAX	JHQAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.68%	2.63%	-0.95%
Volatility (6M) Calculated over the trailing 6-month period	2.20%	5.49%	-3.29%
Volatility (1Y) Calculated over the trailing 1-year period	3.74%	10.23%	-6.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.41%	8.89%	+5.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.69%	9.40%	+1.29%