PAXWX vs. JBALX

Last updated Jun 4, 2026

PAXWX (Pax Sustainable Allocation Fund) and JBALX (JPMorgan Global Allocation Fund Class A) are both mutual funds - PAXWX is a Diversified Portfolio fund managed by Pax World, while JBALX is a Global Allocation fund managed by JPMorgan. Over the past 10 years, PAXWX returned 8.45%/yr vs 11.06%/yr for JBALX. Their correlation of 0.93 suggests significant overlap in exposure. PAXWX charges 0.30%/yr vs 0.96%/yr for JBALX.

Performance

PAXWX vs. JBALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pax Sustainable Allocation Fund (PAXWX) and JPMorgan Global Allocation Fund Class A (JBALX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PAXWX achieves a 5.40% return, which is significantly higher than JBALX's 3.95% return. Over the past 10 years, PAXWX has underperformed JBALX with an annualized return of 8.45%, while JBALX has yielded a comparatively higher 11.06% annualized return.

PAXWX

• 1D: 0.22%
• 1M: 3.27%
• YTD: 5.40%
• 6M: 5.37%
• 1Y: 14.64%
• 3Y*: 12.21%
• 5Y*: 5.73%
• 10Y*: 8.45%

JBALX

• 1D: 0.00%
• 1M: 3.16%
• YTD: 3.95%
• 6M: 3.97%
• 1Y: 15.23%
• 3Y*: 15.83%
• 5Y*: 9.08%
• 10Y*: 11.06%

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

PAXWX vs. JBALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAXWX Pax Sustainable Allocation Fund	5.40%	10.87%	12.61%	13.19%	-16.50%	15.31%	16.23%	20.84%	-4.07%	13.16%
JBALX JPMorgan Global Allocation Fund Class A	3.95%	15.00%	20.78%	15.45%	-16.56%	17.28%	14.40%	21.88%	0.71%	17.83%

Correlation

The correlation between PAXWX and JBALX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Dec 1, 2005	0.93

The correlation between PAXWX and JBALX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

PAXWX vs. JBALX — Risk / Return Rank

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

PAXWX

PAXWX Risk / Return Rank: 43
PAXWX Sharpe Ratio Rank: 43
PAXWX Sortino Ratio Rank: 43
PAXWX Omega Ratio Rank: 41
PAXWX Calmar Ratio Rank: 38
PAXWX Martin Ratio Rank: 48

JBALX

JBALX Risk / Return Rank: 36
JBALX Sharpe Ratio Rank: 38
JBALX Sortino Ratio Rank: 39
JBALX Omega Ratio Rank: 37
JBALX Calmar Ratio Rank: 27
JBALX Martin Ratio Rank: 38

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.

PAXWX vs. JBALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pax Sustainable Allocation Fund (PAXWX) and JPMorgan Global Allocation Fund Class A (JBALX). 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.

	PAXWX	JBALX	Difference
Sharpe ratio: Return per unit of total volatility	1.93	1.81	+0.12
Sortino ratio: Return per unit of downside risk	2.75	2.59	+0.16
Omega ratio: Gain probability vs. loss probability	1.34	1.33	+0.02
Calmar ratio: Return relative to maximum drawdown	2.35	1.93	+0.42
Martin ratio: Return relative to average drawdown	10.00	8.35	+1.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PAXWX vs. JBALX - Sharpe Ratio Comparison

The current PAXWX Sharpe Ratio is 1.93, which is comparable to the JBALX Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of PAXWX and JBALX, 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

	PAXWX	JBALX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.93	1.81	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.81	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	0.99	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.67	-0.07

Drawdowns

PAXWX vs. JBALX - Drawdown Comparison

The maximum PAXWX drawdown since its inception was -40.11%, which is greater than JBALX's maximum drawdown of -33.98%. Use the drawdown chart below to compare losses from any high point for PAXWX and JBALX.

Drawdown Indicators

	PAXWX	JBALX	Difference
Max Drawdown Largest peak-to-trough decline	-40.11%	-33.98%	-6.13%
Max Drawdown (1Y) Largest decline over 1 year	-6.41%	-8.12%	+1.71%
Max Drawdown (3Y) Largest decline over 3 years	-11.22%	-11.93%	+0.71%
Max Drawdown (5Y) Largest decline over 5 years	-21.64%	-21.50%	-0.14%
Max Drawdown (10Y) Largest decline over 10 years	-21.64%	-22.49%	+0.85%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.65%	-5.43%	-0.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.50%	1.87%	-0.37%

Volatility

PAXWX vs. JBALX - Volatility Comparison

Pax Sustainable Allocation Fund (PAXWX) and JPMorgan Global Allocation Fund Class A (JBALX) have volatilities of 2.41% and 2.45%, 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

	PAXWX	JBALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.41%	2.45%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	6.14%	6.91%	-0.77%
Volatility (1Y) Calculated over the trailing 1-year period	7.82%	8.70%	-0.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.76%	11.33%	-0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.74%	11.24%	-0.50%

PAXWX vs. JBALX - Expense Ratio Comparison

PAXWX has a 0.30% expense ratio, which is lower than JBALX's 0.96% expense ratio.

Dividends

PAXWX vs. JBALX - Dividend Comparison

PAXWX's dividend yield for the trailing twelve months is around 9.15%, more than JBALX's 8.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JBALX JPMorgan Global Allocation Fund Class A	8.51%	8.80%	11.84%	2.28%	2.00%	4.54%	2.54%	2.33%	7.14%	4.69%	4.55%	5.87%
PAXWX Pax Sustainable Allocation Fund	9.15%	9.64%	8.33%	3.37%	6.24%	4.85%	2.80%	9.31%	2.90%	10.90%	3.02%	8.36%

Frequently Asked Questions

Can I hold both PAXWX and JBALX in my portfolio?

With a correlation of 0.93, PAXWX and JBALX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PAXWX or JBALX?

JBALX has higher volatility (2.45%) compared to PAXWX (2.41%). In terms of maximum drawdown, PAXWX dropped -40.11% vs JBALX's -33.98%.

Which has better risk-adjusted returns?

PAXWX currently has the higher Sharpe Ratio (1.93 vs 1.80), 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.