OAKCX vs. JMSIX

Last updated Jun 5, 2026

OAKCX (Oakmark Bond Fund Investor Class) and JMSIX (JPMorgan Income Fund) are both Multisector Bonds funds. Over the past 3 years, OAKCX returned 4.87%/yr vs 7.08%/yr for JMSIX. A 0.75 correlation means they provide meaningful diversification when combined. OAKCX charges 0.74%/yr vs 0.40%/yr for JMSIX.

Performance

OAKCX vs. JMSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Oakmark Bond Fund Investor Class (OAKCX) 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, OAKCX achieves a 0.45% return, which is significantly lower than JMSIX's 1.23% return.

OAKCX

• 1D: -0.22%
• 1M: 0.23%
• YTD: 0.45%
• 6M: 0.50%
• 1Y: 5.25%
• 3Y*: 4.87%
• 5Y*: —
• 10Y*: —

JMSIX

• 1D: -0.12%
• 1M: 0.27%
• YTD: 1.23%
• 6M: 1.73%
• 1Y: 5.55%
• 3Y*: 7.08%
• 5Y*: 2.78%
• 10Y*: 3.97%

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

OAKCX vs. JMSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
OAKCX Oakmark Bond Fund Investor Class	0.45%	6.85%	2.90%	5.91%	-9.75%
JMSIX JPMorgan Income Fund	1.23%	7.68%	7.78%	6.14%	-7.05%

Correlation

The correlation between OAKCX and JMSIX is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (All Time) Calculated using the full available price history since Jan 31, 2022	0.75

The correlation between OAKCX and JMSIX has been stable across timeframes, ranging from 0.66 to 0.75 - a consistent structural relationship.

Return for Risk

OAKCX vs. JMSIX — Risk / Return Rank

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

OAKCX

OAKCX Risk / Return Rank: 37
OAKCX Sharpe Ratio Rank: 37
OAKCX Sortino Ratio Rank: 40
OAKCX Omega Ratio Rank: 37
OAKCX Calmar Ratio Rank: 38
OAKCX Martin Ratio Rank: 32

JMSIX

JMSIX Risk / Return Rank: 79
JMSIX Sharpe Ratio Rank: 60
JMSIX Sortino Ratio Rank: 91
JMSIX Omega Ratio Rank: 86
JMSIX Calmar Ratio Rank: 79
JMSIX Martin Ratio Rank: 80

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.

OAKCX vs. JMSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Oakmark Bond Fund Investor Class (OAKCX) 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.

	OAKCX	JMSIX	Difference
Sharpe ratio: Return per unit of total volatility	1.67	2.30	-0.62
Sortino ratio: Return per unit of downside risk	2.52	4.54	-2.02
Omega ratio: Gain probability vs. loss probability	1.31	1.60	-0.29
Calmar ratio: Return relative to maximum drawdown	2.23	3.59	-1.36
Martin ratio: Return relative to average drawdown	6.97	14.87	-7.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OAKCX vs. JMSIX - Sharpe Ratio Comparison

The current OAKCX Sharpe Ratio is 1.67, which is comparable to the JMSIX Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of OAKCX 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.

Sharpe Ratios by Period

	OAKCX	JMSIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	2.30	-0.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.75	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.03	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.79	-0.55

Drawdowns

OAKCX vs. JMSIX - Drawdown Comparison

The maximum OAKCX drawdown since its inception was -13.38%, smaller than the maximum JMSIX drawdown of -18.40%. Use the drawdown chart below to compare losses from any high point for OAKCX and JMSIX.

Drawdown Indicators

	OAKCX	JMSIX	Difference
Max Drawdown Largest peak-to-trough decline	-13.38%	-18.40%	+5.02%
Max Drawdown (1Y) Largest decline over 1 year	-2.63%	-1.62%	-1.01%
Max Drawdown (3Y) Largest decline over 3 years	-5.56%	-2.31%	-3.25%
Max Drawdown (5Y) Largest decline over 5 years	—	-11.39%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-18.40%	—
Current Drawdown Current decline from peak	-1.32%	-0.12%	-1.20%
Average Drawdown Average peak-to-trough decline	-4.81%	-2.57%	-2.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.84%	0.39%	+0.45%

Volatility

OAKCX vs. JMSIX - Volatility Comparison

Oakmark Bond Fund Investor Class (OAKCX) has a higher volatility of 1.24% compared to JPMorgan Income Fund (JMSIX) at 0.82%. This indicates that OAKCX's price experiences larger fluctuations and is considered to be riskier than JMSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OAKCX	JMSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.24%	0.82%	+0.42%
Volatility (6M) Calculated over the trailing 6-month period	2.51%	1.88%	+0.63%
Volatility (1Y) Calculated over the trailing 1-year period	3.51%	2.54%	+0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.36%	3.73%	+1.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.36%	3.87%	+1.49%

OAKCX vs. JMSIX - Expense Ratio Comparison

OAKCX has a 0.74% expense ratio, which is higher than JMSIX's 0.40% expense ratio.

Dividends

OAKCX vs. JMSIX - Dividend Comparison

OAKCX's dividend yield for the trailing twelve months is around 4.60%, less than JMSIX's 6.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
JMSIX JPMorgan Income Fund	6.03%	5.95%	5.78%	4.43%	4.78%	4.00%	4.95%	5.10%	5.43%	5.42%	0.46%
OAKCX Oakmark Bond Fund Investor Class	4.60%	3.57%	4.37%	3.62%	2.77%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OAKCX and JMSIX in my portfolio?

OAKCX and JMSIX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OAKCX or JMSIX?

OAKCX has higher volatility (1.24%) compared to JMSIX (0.82%). In terms of maximum drawdown, OAKCX dropped -13.38% vs JMSIX's -18.40%.

Which has better risk-adjusted returns?

JMSIX currently has the higher Sharpe Ratio (2.30 vs 1.67), 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.