PGBOX vs. JIBEX

Last updated Jun 4, 2026

PGBOX (JPMorgan Core Bond Fund) and JIBEX (Johnson Institutional Intermediate Bond Fund) are both Intermediate Core Bond funds. Over the past 10 years, PGBOX returned 1.62%/yr vs 2.09%/yr for JIBEX. Their correlation of 0.89 suggests significant overlap in exposure. PGBOX charges 0.70%/yr vs 0.25%/yr for JIBEX.

Performance

PGBOX vs. JIBEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Core Bond Fund (PGBOX) and Johnson Institutional Intermediate Bond Fund (JIBEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PGBOX achieves a -0.08% return, which is significantly lower than JIBEX's -0.05% return. Over the past 10 years, PGBOX has underperformed JIBEX with an annualized return of 1.62%, while JIBEX has yielded a comparatively higher 2.09% annualized return.

PGBOX

• 1D: 0.00%
• 1M: 0.42%
• YTD: -0.08%
• 6M: -0.34%
• 1Y: 4.73%
• 3Y*: 3.84%
• 5Y*: 0.20%
• 10Y*: 1.62%

JIBEX

• 1D: 0.00%
• 1M: 0.14%
• YTD: -0.05%
• 6M: 0.02%
• 1Y: 4.13%
• 3Y*: 4.41%
• 5Y*: 0.99%
• 10Y*: 2.09%

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

PGBOX vs. JIBEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PGBOX JPMorgan Core Bond Fund	-0.08%	7.10%	1.81%	5.42%	-12.56%	-1.36%	7.85%	8.06%	-0.06%	3.55%
JIBEX Johnson Institutional Intermediate Bond Fund	-0.05%	7.39%	2.58%	5.46%	-9.24%	-1.72%	7.20%	7.54%	0.41%	2.81%

Correlation

The correlation between PGBOX and JIBEX is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Sep 1, 2000	0.89

The correlation between PGBOX and JIBEX has been stable across timeframes, ranging from 0.89 to 0.96 - a consistent structural relationship.

Return for Risk

PGBOX vs. JIBEX — Risk / Return Rank

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

PGBOX

PGBOX Risk / Return Rank: 16
PGBOX Sharpe Ratio Rank: 17
PGBOX Sortino Ratio Rank: 17
PGBOX Omega Ratio Rank: 16
PGBOX Calmar Ratio Rank: 16
PGBOX Martin Ratio Rank: 15

JIBEX

JIBEX Risk / Return Rank: 26
JIBEX Sharpe Ratio Rank: 27
JIBEX Sortino Ratio Rank: 30
JIBEX Omega Ratio Rank: 27
JIBEX Calmar Ratio Rank: 25
JIBEX Martin Ratio Rank: 22

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.

PGBOX vs. JIBEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Core Bond Fund (PGBOX) and Johnson Institutional Intermediate Bond Fund (JIBEX). 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.

	PGBOX	JIBEX	Difference
Sharpe ratio: Return per unit of total volatility	1.18	1.50	-0.32
Sortino ratio: Return per unit of downside risk	1.76	2.27	-0.51
Omega ratio: Gain probability vs. loss probability	1.21	1.27	-0.06
Calmar ratio: Return relative to maximum drawdown	1.39	1.84	-0.45
Martin ratio: Return relative to average drawdown	4.14	5.62	-1.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PGBOX vs. JIBEX - Sharpe Ratio Comparison

The current PGBOX Sharpe Ratio is 1.18, which is comparable to the JIBEX Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of PGBOX and JIBEX, 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

	PGBOX	JIBEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.18	1.50	-0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	0.23	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	0.59	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.33	+0.53

Drawdowns

PGBOX vs. JIBEX - Drawdown Comparison

The maximum PGBOX drawdown since its inception was -18.42%, which is greater than JIBEX's maximum drawdown of -13.85%. Use the drawdown chart below to compare losses from any high point for PGBOX and JIBEX.

Drawdown Indicators

	PGBOX	JIBEX	Difference
Max Drawdown Largest peak-to-trough decline	-18.42%	-13.85%	-4.57%
Max Drawdown (1Y) Largest decline over 1 year	-3.34%	-2.21%	-1.13%
Max Drawdown (3Y) Largest decline over 3 years	-5.92%	-3.37%	-2.55%
Max Drawdown (5Y) Largest decline over 5 years	-16.88%	-13.81%	-3.07%
Max Drawdown (10Y) Largest decline over 10 years	-16.88%	-13.85%	-3.03%
Current Drawdown Current decline from peak	-2.08%	-1.40%	-0.68%
Average Drawdown Average peak-to-trough decline	-2.70%	-3.64%	+0.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.12%	0.72%	+0.40%

Volatility

PGBOX vs. JIBEX - Volatility Comparison

JPMorgan Core Bond Fund (PGBOX) has a higher volatility of 1.31% compared to Johnson Institutional Intermediate Bond Fund (JIBEX) at 0.92%. This indicates that PGBOX's price experiences larger fluctuations and is considered to be riskier than JIBEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGBOX	JIBEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.31%	0.92%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	2.83%	1.93%	+0.90%
Volatility (1Y) Calculated over the trailing 1-year period	3.96%	2.73%	+1.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.68%	4.39%	+1.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.70%	3.58%	+1.12%

PGBOX vs. JIBEX - Expense Ratio Comparison

PGBOX has a 0.70% expense ratio, which is higher than JIBEX's 0.25% expense ratio.

Dividends

PGBOX vs. JIBEX - Dividend Comparison

PGBOX's dividend yield for the trailing twelve months is around 3.49%, less than JIBEX's 3.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JIBEX Johnson Institutional Intermediate Bond Fund	3.68%	4.03%	3.39%	2.90%	2.14%	1.79%	3.15%	2.69%	2.74%	2.33%	2.39%	1.54%
PGBOX JPMorgan Core Bond Fund	3.49%	3.71%	3.69%	3.26%	2.41%	2.56%	3.75%	2.97%	2.65%	2.63%	2.66%	2.34%

Frequently Asked Questions

Can I hold both PGBOX and JIBEX in my portfolio?

With a correlation of 0.95, PGBOX and JIBEX 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, PGBOX or JIBEX?

PGBOX has higher volatility (1.31%) compared to JIBEX (0.92%). In terms of maximum drawdown, PGBOX dropped -18.42% vs JIBEX's -13.85%.

Which has better risk-adjusted returns?

JIBEX currently has the higher Sharpe Ratio (1.50 vs 1.18), 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.