MOFIX vs. JMSIX

Last updated Jun 24, 2026

MOFIX (Mercer Opportunistic Fixed Income Fund) and JMSIX (JPMorgan Income Fund) are both Multisector Bonds funds. Over the past 5 years, MOFIX returned 1.48%/yr vs 2.78%/yr for JMSIX. A 0.59 correlation means they provide meaningful diversification when combined. MOFIX charges 0.44%/yr vs 0.40%/yr for JMSIX.

Performance

MOFIX vs. JMSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Mercer Opportunistic Fixed Income Fund (MOFIX) and JPMorgan Income Fund (JMSIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MOFIX achieves a -1.18% return, which is significantly lower than JMSIX's 0.99% return.

MOFIX

• 1D: -0.12%
• 1M: 0.48%
• YTD: -1.18%
• 6M: -0.52%
• 1Y: 2.61%
• 3Y*: 5.20%
• 5Y*: 1.48%
• 10Y*: —

JMSIX

• 1D: -0.12%
• 1M: 0.50%
• YTD: 0.99%
• 6M: 1.61%
• 1Y: 5.18%
• 3Y*: 7.17%
• 5Y*: 2.78%
• 10Y*: 3.96%

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

MOFIX vs. JMSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
MOFIX Mercer Opportunistic Fixed Income Fund	-1.18%	8.60%	2.23%	12.22%	-11.57%	-1.15%	5.31%	3.18%
JMSIX JPMorgan Income Fund	0.99%	7.68%	7.78%	6.14%	-8.24%	3.59%	3.07%	6.36%

Correlation

The correlation between MOFIX and JMSIX is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (All Time) Calculated using the full available price history since Apr 16, 2019	0.59

The correlation between MOFIX and JMSIX has been stable across timeframes, ranging from 0.57 to 0.66 - a consistent structural relationship.

Return for Risk

MOFIX vs. JMSIX — Risk / Return Rank

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

MOFIX

MOFIX Risk / Return Rank: 14
MOFIX Sharpe Ratio Rank: 16
MOFIX Sortino Ratio Rank: 17
MOFIX Omega Ratio Rank: 18
MOFIX Calmar Ratio Rank: 10
MOFIX Martin Ratio Rank: 10

JMSIX

JMSIX Risk / Return Rank: 78
JMSIX Sharpe Ratio Rank: 59
JMSIX Sortino Ratio Rank: 90
JMSIX Omega Ratio Rank: 85
JMSIX Calmar Ratio Rank: 77
JMSIX Martin Ratio Rank: 77

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.

MOFIX vs. JMSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mercer Opportunistic Fixed Income Fund (MOFIX) and JPMorgan Income Fund (JMSIX). 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.

	MOFIX	JMSIX	Difference
Sharpe ratio: Return per unit of total volatility	1.06	2.09	-1.03
Sortino ratio: Return per unit of downside risk	1.59	4.06	-2.47
Omega ratio: Gain probability vs. loss probability	1.21	1.54	-0.33
Calmar ratio: Return relative to maximum drawdown	0.91	3.28	-2.37
Martin ratio: Return relative to average drawdown	2.68	13.51	-10.84

MOFIX vs. JMSIX - Sharpe Ratio Comparison

The current MOFIX Sharpe Ratio is 1.06, which is lower than the JMSIX Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of MOFIX and JMSIX, 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

MOFIX vs. JMSIX - Drawdown Comparison

The maximum MOFIX drawdown since its inception was -19.96%, which is greater than JMSIX's maximum drawdown of -18.40%. Use the drawdown chart below to compare losses from any high point for MOFIX and JMSIX.

Drawdown Indicators

	MOFIX	JMSIX	Difference
Max Drawdown Largest peak-to-trough decline	-19.96%	-18.40%	-1.56%
Max Drawdown (1Y) Largest decline over 1 year	-3.52%	-1.62%	-1.90%
Max Drawdown (3Y) Largest decline over 3 years	-8.02%	-2.31%	-5.71%
Max Drawdown (5Y) Largest decline over 5 years	-19.00%	-11.39%	-7.61%
Max Drawdown (10Y) Largest decline over 10 years	—	-18.40%	—
Current Drawdown Current decline from peak	-1.64%	-0.47%	-1.17%
Average Drawdown Average peak-to-trough decline	-5.15%	-2.56%	-2.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.13%	0.39%	+0.74%

Volatility

MOFIX vs. JMSIX - Volatility Comparison

Mercer Opportunistic Fixed Income Fund (MOFIX) and JPMorgan Income Fund (JMSIX) have volatilities of 0.75% and 0.76%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MOFIX	JMSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.75%	0.76%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	2.40%	1.93%	+0.47%
Volatility (1Y) Calculated over the trailing 1-year period	3.01%	2.55%	+0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.26%	3.73%	+3.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.16%	3.87%	+3.29%

MOFIX vs. JMSIX - Expense Ratio Comparison

MOFIX has a 0.44% expense ratio, which is higher than JMSIX's 0.40% expense ratio.

Dividends

MOFIX vs. JMSIX - Dividend Comparison

MOFIX's dividend yield for the trailing twelve months is around 3.36%, less than JMSIX's 6.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
JMSIX JPMorgan Income Fund	6.04%	5.95%	5.78%	4.43%	4.78%	4.00%	4.95%	5.10%	5.43%	5.42%	0.46%
MOFIX Mercer Opportunistic Fixed Income Fund	3.36%	3.32%	6.91%	6.44%	3.81%	4.20%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MOFIX and JMSIX in my portfolio?

MOFIX and JMSIX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MOFIX or JMSIX?

JMSIX has higher volatility (0.76%) compared to MOFIX (0.75%). In terms of maximum drawdown, MOFIX dropped -19.96% vs JMSIX's -18.40%.

Which has better risk-adjusted returns?

JMSIX currently has the higher Sharpe Ratio (2.09 vs 1.06), 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.