ONGIX vs. BHYAX

Last updated Jun 13, 2026

ONGIX (JPMorgan Investor Growth and Income Fund Class A) and BHYAX (BlackRock High Yield Bond Fund Investor A Shares) are both mutual funds - ONGIX is a Diversified Portfolio fund actively managed by JPMorgan, while BHYAX is a High Yield Bonds fund tracking the Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index. ONGIX is actively managed, while BHYAX is passively managed. Over the past 10 years, ONGIX returned 9.66%/yr vs 5.41%/yr for BHYAX. At a 0.41 correlation, their price movements are largely independent. ONGIX charges 0.95%/yr vs 0.93%/yr for BHYAX.

Performance

ONGIX vs. BHYAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Investor Growth and Income Fund Class A (ONGIX) and BlackRock High Yield Bond Fund Investor A Shares (BHYAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ONGIX achieves a 5.32% return, which is significantly higher than BHYAX's 1.33% return. Over the past 10 years, ONGIX has outperformed BHYAX with an annualized return of 9.66%, while BHYAX has yielded a comparatively lower 5.41% annualized return.

ONGIX

• 1D: 1.65%
• 1M: 1.14%
• YTD: 5.32%
• 6M: 5.58%
• 1Y: 15.72%
• 3Y*: 13.26%
• 5Y*: 6.91%
• 10Y*: 9.66%

BHYAX

• 1D: 0.14%
• 1M: 0.68%
• YTD: 1.33%
• 6M: 2.12%
• 1Y: 7.23%
• 3Y*: 8.33%
• 5Y*: 3.70%
• 10Y*: 5.41%

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

ONGIX vs. BHYAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ONGIX JPMorgan Investor Growth and Income Fund Class A	5.32%	13.92%	11.36%	17.26%	-14.81%	14.68%	16.97%	20.64%	-6.57%	16.70%
BHYAX BlackRock High Yield Bond Fund Investor A Shares	1.33%	8.96%	7.55%	12.19%	-11.63%	5.21%	5.54%	15.15%	-3.24%	8.03%

Correlation

The correlation between ONGIX and BHYAX is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Nov 18, 1998	0.41

Over the past year, ONGIX and BHYAX have become more correlated (0.67) than their long-term average of 0.41, meaning their price movements have been converging.

Return for Risk

ONGIX vs. BHYAX — Risk / Return Rank

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

ONGIX

ONGIX Risk / Return Rank: 48
ONGIX Sharpe Ratio Rank: 47
ONGIX Sortino Ratio Rank: 46
ONGIX Omega Ratio Rank: 48
ONGIX Calmar Ratio Rank: 45
ONGIX Martin Ratio Rank: 55

BHYAX

BHYAX Risk / Return Rank: 80
BHYAX Sharpe Ratio Rank: 69
BHYAX Sortino Ratio Rank: 85
BHYAX Omega Ratio Rank: 82
BHYAX Calmar Ratio Rank: 76
BHYAX Martin Ratio Rank: 88

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.

ONGIX vs. BHYAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Investor Growth and Income Fund Class A (ONGIX) and BlackRock High Yield Bond Fund Investor A Shares (BHYAX). 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.

	ONGIX	BHYAX	Difference
Sharpe ratio: Return per unit of total volatility	1.67	2.03	-0.36
Sortino ratio: Return per unit of downside risk	2.36	3.58	-1.22
Omega ratio: Gain probability vs. loss probability	1.31	1.47	-0.16
Calmar ratio: Return relative to maximum drawdown	2.21	3.03	-0.82
Martin ratio: Return relative to average drawdown	9.37	14.71	-5.34

ONGIX vs. BHYAX - Sharpe Ratio Comparison

The current ONGIX Sharpe Ratio is 1.67, which is comparable to the BHYAX Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of ONGIX and BHYAX, 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

ONGIX vs. BHYAX - Drawdown Comparison

The maximum ONGIX drawdown since its inception was -41.01%, which is greater than BHYAX's maximum drawdown of -35.18%. Use the drawdown chart below to compare losses from any high point for ONGIX and BHYAX.

Drawdown Indicators

	ONGIX	BHYAX	Difference
Max Drawdown Largest peak-to-trough decline	-41.01%	-35.18%	-5.83%
Max Drawdown (1Y) Largest decline over 1 year	-6.85%	-2.30%	-4.55%
Max Drawdown (3Y) Largest decline over 3 years	-11.43%	-4.10%	-7.33%
Max Drawdown (5Y) Largest decline over 5 years	-20.47%	-15.60%	-4.87%
Max Drawdown (10Y) Largest decline over 10 years	-25.83%	-23.25%	-2.58%
Current Drawdown Current decline from peak	-1.29%	-0.42%	-0.87%
Average Drawdown Average peak-to-trough decline	-5.54%	-2.86%	-2.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	0.47%	+1.14%

Volatility

ONGIX vs. BHYAX - Volatility Comparison

JPMorgan Investor Growth and Income Fund Class A (ONGIX) has a higher volatility of 3.64% compared to BlackRock High Yield Bond Fund Investor A Shares (BHYAX) at 1.10%. This indicates that ONGIX's price experiences larger fluctuations and is considered to be riskier than BHYAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONGIX	BHYAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.64%	1.10%	+2.54%
Volatility (6M) Calculated over the trailing 6-month period	7.41%	2.65%	+4.76%
Volatility (1Y) Calculated over the trailing 1-year period	9.08%	3.43%	+5.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.19%	5.20%	+5.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.87%	5.89%	+5.98%

ONGIX vs. BHYAX - Expense Ratio Comparison

ONGIX has a 0.95% expense ratio, which is higher than BHYAX's 0.93% expense ratio.

Dividends

ONGIX vs. BHYAX - Dividend Comparison

ONGIX's dividend yield for the trailing twelve months is around 4.37%, less than BHYAX's 6.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BHYAX BlackRock High Yield Bond Fund Investor A Shares	6.74%	6.71%	6.56%	5.30%	4.60%	4.42%	4.83%	5.39%	6.02%	5.50%	5.65%	6.01%
ONGIX JPMorgan Investor Growth and Income Fund Class A	4.37%	4.56%	4.25%	3.17%	7.44%	4.74%	7.10%	7.23%	8.43%	8.34%	4.42%	5.45%

Frequently Asked Questions

Can I hold both ONGIX and BHYAX in my portfolio?

ONGIX and BHYAX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ONGIX or BHYAX?

ONGIX has higher volatility (3.64%) compared to BHYAX (1.10%). In terms of maximum drawdown, ONGIX dropped -41.01% vs BHYAX's -35.18%.

Which has better risk-adjusted returns?

BHYAX currently has the higher Sharpe Ratio (2.03 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.