ONGAX vs. IOLZX

Last updated Jun 26, 2026

ONGAX (JPMorgan Investor Growth Fund Class A) and IOLZX (ICON Equity Fund) are both Large Cap Growth Equities funds. Over the past 10 years, ONGAX returned 11.91%/yr vs 15.26%/yr for IOLZX. Their correlation of 0.90 suggests significant overlap in exposure. ONGAX charges 0.97%/yr vs 1.04%/yr for IOLZX.

Performance

ONGAX vs. IOLZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Investor Growth Fund Class A (ONGAX) and ICON Equity Fund (IOLZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ONGAX achieves a 6.90% return, which is significantly lower than IOLZX's 28.30% return. Over the past 10 years, ONGAX has underperformed IOLZX with an annualized return of 11.91%, while IOLZX has yielded a comparatively higher 15.26% annualized return.

ONGAX

• 1D: 0.07%
• 1M: -0.59%
• YTD: 6.90%
• 6M: 5.90%
• 1Y: 17.76%
• 3Y*: 15.96%
• 5Y*: 8.31%
• 10Y*: 11.91%

IOLZX

• 1D: -0.25%
• 1M: 2.86%
• YTD: 28.30%
• 6M: 26.13%
• 1Y: 49.43%
• 3Y*: 24.23%
• 5Y*: 10.98%
• 10Y*: 15.26%

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

ONGAX vs. IOLZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ONGAX JPMorgan Investor Growth Fund Class A	6.90%	16.60%	13.64%	20.41%	-16.15%	17.21%	19.89%	24.94%	-8.95%	21.12%
IOLZX ICON Equity Fund	28.30%	15.81%	16.87%	12.13%	-17.78%	26.72%	16.00%	38.22%	-16.69%	26.78%

Correlation

The correlation between ONGAX and IOLZX is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Feb 3, 2004	0.90

The correlation between ONGAX and IOLZX has been stable across timeframes, ranging from 0.80 to 0.90 - a consistent structural relationship.

Return for Risk

ONGAX vs. IOLZX — Risk / Return Rank

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

ONGAX

ONGAX Risk / Return Rank: 40
ONGAX Sharpe Ratio Rank: 39
ONGAX Sortino Ratio Rank: 37
ONGAX Omega Ratio Rank: 38
ONGAX Calmar Ratio Rank: 38
ONGAX Martin Ratio Rank: 47

IOLZX

IOLZX Risk / Return Rank: 83
IOLZX Sharpe Ratio Rank: 89
IOLZX Sortino Ratio Rank: 84
IOLZX Omega Ratio Rank: 79
IOLZX Calmar Ratio Rank: 84
IOLZX Martin Ratio Rank: 78

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.

ONGAX vs. IOLZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Investor Growth Fund Class A (ONGAX) and ICON Equity Fund (IOLZX). 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.

	ONGAX	IOLZX	Difference
Sharpe ratio: Return per unit of total volatility	1.49	2.53	-1.04
Sortino ratio: Return per unit of downside risk	2.10	3.41	-1.31
Omega ratio: Gain probability vs. loss probability	1.28	1.42	-0.15
Calmar ratio: Return relative to maximum drawdown	2.00	3.45	-1.45
Martin ratio: Return relative to average drawdown	8.43	12.21	-3.78

ONGAX vs. IOLZX - Sharpe Ratio Comparison

The current ONGAX Sharpe Ratio is 1.49, which is lower than the IOLZX Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of ONGAX and IOLZX, 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

ONGAX vs. IOLZX - Drawdown Comparison

The maximum ONGAX drawdown since its inception was -49.19%, smaller than the maximum IOLZX drawdown of -56.03%. Use the drawdown chart below to compare losses from any high point for ONGAX and IOLZX.

Drawdown Indicators

	ONGAX	IOLZX	Difference
Max Drawdown Largest peak-to-trough decline	-49.19%	-56.03%	+6.84%
Max Drawdown (1Y) Largest decline over 1 year	-8.75%	-14.35%	+5.60%
Max Drawdown (3Y) Largest decline over 3 years	-14.80%	-24.71%	+9.91%
Max Drawdown (5Y) Largest decline over 5 years	-23.57%	-27.77%	+4.20%
Max Drawdown (10Y) Largest decline over 10 years	-31.35%	-41.04%	+9.69%
Current Drawdown Current decline from peak	-1.71%	-1.98%	+0.27%
Average Drawdown Average peak-to-trough decline	-7.76%	-12.60%	+4.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.08%	4.05%	-1.97%

Volatility

ONGAX vs. IOLZX - Volatility Comparison

The current volatility for JPMorgan Investor Growth Fund Class A (ONGAX) is 4.82%, while ICON Equity Fund (IOLZX) has a volatility of 7.33%. This indicates that ONGAX experiences smaller price fluctuations and is considered to be less risky than IOLZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONGAX	IOLZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.82%	7.33%	-2.51%
Volatility (6M) Calculated over the trailing 6-month period	9.66%	15.99%	-6.33%
Volatility (1Y) Calculated over the trailing 1-year period	11.81%	19.63%	-7.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.25%	21.56%	-7.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.32%	22.35%	-7.03%

ONGAX vs. IOLZX - Expense Ratio Comparison

ONGAX has a 0.97% expense ratio, which is lower than IOLZX's 1.04% expense ratio.

Dividends

ONGAX vs. IOLZX - Dividend Comparison

ONGAX's dividend yield for the trailing twelve months is around 3.21%, less than IOLZX's 8.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IOLZX ICON Equity Fund	8.33%	10.69%	22.21%	4.75%	18.57%	14.12%	0.00%	3.46%	1.60%	0.00%	0.00%	0.00%
ONGAX JPMorgan Investor Growth Fund Class A	3.21%	3.43%	3.18%	3.26%	8.35%	3.80%	7.02%	8.04%	8.36%	8.72%	5.62%	6.53%

Frequently Asked Questions

Can I hold both ONGAX and IOLZX in my portfolio?

ONGAX and IOLZX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ONGAX or IOLZX?

IOLZX has higher volatility (7.33%) compared to ONGAX (4.82%). In terms of maximum drawdown, ONGAX dropped -49.19% vs IOLZX's -56.03%.

Which has better risk-adjusted returns?

IOLZX currently has the higher Sharpe Ratio (2.53 vs 1.49), 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.