OHYFX vs. JMSIX

Last updated Aug 4, 2026

OHYFX (JPMorgan High Yield Fund) and JMSIX (JPMorgan Income Fund Class I) are both mutual funds - OHYFX is a High Yield Bonds fund managed by JPMorgan, while JMSIX is a Multisector Bonds fund actively managed by JPMorgan. Over the past 10 years, OHYFX returned 4.82%/yr vs 3.79%/yr for JMSIX. Their 0.59 correlation means they have sometimes moved together and sometimes differently. OHYFX charges 0.65%/yr vs 0.40%/yr for JMSIX.

Performance

OHYFX vs. JMSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan High Yield Fund (OHYFX) and JPMorgan Income Fund Class I (JMSIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OHYFX achieves a 0.94% return, which is significantly lower than JMSIX's 1.12% return. Over the past 10 years, OHYFX has outperformed JMSIX with an annualized return of 4.82%, while JMSIX has yielded a comparatively lower 3.79% annualized return.

OHYFX

• 1D: 0.00%
• 1M: -0.27%
• 6M: 0.58%
• YTD: 0.94%
• 1Y: 4.79%
• 3Y*: 8.08%
• 5Y*: 3.79%
• 10Y*: 4.82%
• ALL TIME*: 5.86%

JMSIX

• 1D: 0.00%
• 1M: -0.47%
• 6M: 0.74%
• YTD: 1.12%
• 1Y: 3.79%
• 3Y*: 6.94%
• 5Y*: 2.71%
• 10Y*: 3.79%
• ALL TIME*: 2.90%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JMSIX JPMorgan Income Fund Class I	$0.00	$0.00	$0.00
OHYFX JPMorgan High Yield Fund	$0.00	$0.00	$0.00

OHYFX vs. JMSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OHYFX JPMorgan High Yield Fund	0.94%	8.37%	8.64%	11.80%	-10.32%	6.76%	2.85%	13.47%	-2.84%	6.66%
JMSIX JPMorgan Income Fund Class I	1.12%	7.68%	7.78%	6.14%	-8.24%	3.59%	3.07%	11.82%	1.03%	6.00%

Correlation

The correlation between OHYFX and JMSIX is 0.44, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.44
Correlation (3Y) Balances recent behavior with more history.	0.53
Correlation (5Y) Shows whether the relationship held over a longer period.	0.59
Correlation (10Y) Provides a long-term view across more market conditions.	0.57
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014	0.59

The correlation between OHYFX and JMSIX shifts across timeframes, from 0.44 (1 year) to 0.59 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

OHYFX vs. JMSIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

OHYFX

OHYFX Risk / Return Rank: 75
OHYFX Sharpe Ratio Rank: 74
OHYFX Sortino Ratio Rank: 74
OHYFX Omega Ratio Rank: 83
OHYFX Calmar Ratio Rank: 60
OHYFX Martin Ratio Rank: 83

JMSIX

JMSIX Risk / Return Rank: 81
JMSIX Sharpe Ratio Rank: 72
JMSIX Sortino Ratio Rank: 87
JMSIX Omega Ratio Rank: 87
JMSIX Calmar Ratio Rank: 78
JMSIX Martin Ratio Rank: 82

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

OHYFX vs. JMSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan High Yield Fund (OHYFX) and JPMorgan Income Fund Class I (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.

	OHYFX	JMSIX	Difference
Sharpe ratio: Return per unit of total volatility	1.81	1.74	+0.08
Sortino ratio: Return per unit of downside risk	2.60	3.23	-0.63
Omega ratio: Gain probability vs. loss probability	1.40	1.45	-0.04
Calmar ratio: Return relative to maximum drawdown	2.22	2.64	-0.42
Martin ratio: Return relative to average drawdown	10.78	10.52	+0.27

OHYFX vs. JMSIX - Sharpe Ratio Comparison

The current OHYFX Sharpe Ratio is 1.81, which is comparable to the JMSIX Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of OHYFX 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

OHYFX vs. JMSIX - Drawdown Comparison

The maximum OHYFX drawdown since its inception was -29.34%, which is greater than JMSIX's maximum drawdown of -18.40%. Use the drawdown chart below to compare losses from any high point for OHYFX and JMSIX.

Drawdown Indicators

	OHYFX	JMSIX	Difference
Max Drawdown Largest peak-to-trough decline	-29.34%	-18.40%	-10.94%
Max Drawdown (1Y) Largest decline over 1 year	-2.10%	-1.62%	-0.48%
Max Drawdown (3Y) Largest decline over 3 years	-3.29%	-2.25%	-1.04%
Max Drawdown (5Y) Largest decline over 5 years	-13.77%	-11.39%	-2.38%
Max Drawdown (10Y) Largest decline over 10 years	-23.27%	-18.40%	-4.87%
Current Drawdown Current decline from peak	-0.73%	-0.59%	-0.14%
Average Drawdown Average peak-to-trough decline	-2.43%	-2.53%	+0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.43%	0.41%	+0.02%

Volatility

OHYFX vs. JMSIX - Volatility Comparison

JPMorgan High Yield Fund (OHYFX) has a higher volatility of 0.56% compared to JPMorgan Income Fund Class I (JMSIX) at 0.53%. This indicates that OHYFX'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

	OHYFX	JMSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.56%	0.53%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	2.14%	1.94%	+0.20%
Volatility (1Y) Calculated over the trailing 1-year period	2.56%	2.50%	+0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.74%	3.73%	+1.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.52%	3.86%	+1.66%

OHYFX vs. JMSIX - Expense Ratio Comparison

OHYFX has a 0.65% expense ratio, which is higher than JMSIX's 0.40% expense ratio.

Dividends

OHYFX vs. JMSIX - Dividend Comparison

OHYFX's dividend yield for the trailing twelve months is around 5.37%, less than JMSIX's 5.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JMSIX JPMorgan Income Fund Class I	5.54%	5.95%	5.78%	4.43%	4.78%	4.00%	4.95%	5.10%	5.43%	5.42%	0.46%	0.00%
OHYFX JPMorgan High Yield Fund	5.37%	6.46%	7.18%	6.46%	6.02%	4.74%	4.63%	5.75%	6.19%	5.67%	5.51%	6.23%

Frequently Asked Questions

Can I hold both OHYFX and JMSIX in my portfolio?

OHYFX and JMSIX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OHYFX or JMSIX?

OHYFX has higher volatility (0.56%) compared to JMSIX (0.53%). In terms of maximum drawdown, OHYFX dropped -29.34% vs JMSIX's -18.40%.

Which has better risk-adjusted returns?

OHYFX currently has the higher Sharpe Ratio (1.81 vs 1.74), 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.