PGVFX vs. GAOAX

Last updated Jun 3, 2026

PGVFX (Polaris Global Value Fund) and GAOAX (JPMorgan Global Allocation Fund A) are both Global Equities funds. Over the past 10 years, PGVFX returned 10.84%/yr vs 6.47%/yr for GAOAX. Their correlation of 0.80 suggests significant overlap in exposure. PGVFX charges 0.99%/yr vs 1.04%/yr for GAOAX.

Performance

PGVFX vs. GAOAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Polaris Global Value Fund (PGVFX) and JPMorgan Global Allocation Fund A (GAOAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PGVFX achieves a 19.15% return, which is significantly higher than GAOAX's 5.09% return. Over the past 10 years, PGVFX has outperformed GAOAX with an annualized return of 10.84%, while GAOAX has yielded a comparatively lower 6.47% annualized return.

PGVFX

• 1D: -0.27%
• 1M: 5.09%
• YTD: 19.15%
• 6M: 23.38%
• 1Y: 38.30%
• 3Y*: 21.45%
• 5Y*: 9.40%
• 10Y*: 10.84%

GAOAX

• 1D: 0.18%
• 1M: 2.82%
• YTD: 5.09%
• 6M: 6.05%
• 1Y: 15.18%
• 3Y*: 11.68%
• 5Y*: 2.91%
• 10Y*: 6.47%

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

PGVFX vs. GAOAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PGVFX Polaris Global Value Fund	19.15%	27.01%	5.33%	14.76%	-12.00%	15.38%	6.65%	22.83%	-12.64%	20.60%
GAOAX JPMorgan Global Allocation Fund A	5.09%	14.68%	7.91%	12.69%	-18.74%	3.60%	15.29%	15.95%	-6.07%	16.82%

Correlation

The correlation between PGVFX and GAOAX is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jul 2, 2013	0.80

The correlation between PGVFX and GAOAX shifts across timeframes, from 0.62 (1 year) to 0.80 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PGVFX vs. GAOAX — Risk / Return Rank

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

PGVFX

PGVFX Risk / Return Rank: 89
PGVFX Sharpe Ratio Rank: 94
PGVFX Sortino Ratio Rank: 92
PGVFX Omega Ratio Rank: 88
PGVFX Calmar Ratio Rank: 88
PGVFX Martin Ratio Rank: 83

GAOAX

GAOAX Risk / Return Rank: 29
GAOAX Sharpe Ratio Rank: 32
GAOAX Sortino Ratio Rank: 30
GAOAX Omega Ratio Rank: 32
GAOAX Calmar Ratio Rank: 21
GAOAX Martin Ratio Rank: 29

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.

PGVFX vs. GAOAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Polaris Global Value Fund (PGVFX) and JPMorgan Global Allocation Fund A (GAOAX). 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.

	PGVFX	GAOAX	Difference
Sharpe ratio Return per unit of total volatility	3.29	1.64	+1.65
Sortino ratio Return per unit of downside risk	4.61	2.30	+2.31
Omega ratio Gain probability vs. loss probability	1.63	1.30	+0.33
Calmar ratio Return relative to maximum drawdown	4.35	1.75	+2.59
Martin ratio Return relative to average drawdown	15.75	7.00	+8.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PGVFX vs. GAOAX - Sharpe Ratio Comparison

The current PGVFX Sharpe Ratio is 3.29, which is higher than the GAOAX Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of PGVFX and GAOAX, 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

	PGVFX	GAOAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.29	1.64	+1.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.26	+0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.60	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.60	-0.12

Drawdowns

PGVFX vs. GAOAX - Drawdown Comparison

The maximum PGVFX drawdown since its inception was -68.09%, which is greater than GAOAX's maximum drawdown of -29.02%. Use the drawdown chart below to compare losses from any high point for PGVFX and GAOAX.

Drawdown Indicators

	PGVFX	GAOAX	Difference
Max Drawdown Largest peak-to-trough decline	-68.09%	-29.02%	-39.07%
Max Drawdown (1Y) Largest decline over 1 year	-8.76%	-8.95%	+0.19%
Max Drawdown (3Y) Largest decline over 3 years	-12.53%	-10.87%	-1.66%
Max Drawdown (5Y) Largest decline over 5 years	-27.58%	-29.02%	+1.44%
Max Drawdown (10Y) Largest decline over 10 years	-41.26%	-29.02%	-12.24%
Current Drawdown Current decline from peak	-0.27%	0.00%	-0.27%
Average Drawdown Average peak-to-trough decline	-11.30%	-5.96%	-5.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.42%	2.24%	+0.18%

Volatility

PGVFX vs. GAOAX - Volatility Comparison

Polaris Global Value Fund (PGVFX) has a higher volatility of 4.15% compared to JPMorgan Global Allocation Fund A (GAOAX) at 2.81%. This indicates that PGVFX's price experiences larger fluctuations and is considered to be riskier than GAOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGVFX	GAOAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.15%	2.81%	+1.34%
Volatility (6M) Calculated over the trailing 6-month period	9.55%	7.96%	+1.59%
Volatility (1Y) Calculated over the trailing 1-year period	11.77%	9.72%	+2.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.80%	11.10%	+2.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.87%	10.87%	+5.00%

PGVFX vs. GAOAX - Expense Ratio Comparison

PGVFX has a 0.99% expense ratio, which is lower than GAOAX's 1.04% expense ratio.

Dividends

PGVFX vs. GAOAX - Dividend Comparison

PGVFX's dividend yield for the trailing twelve months is around 4.34%, less than GAOAX's 9.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GAOAX JPMorgan Global Allocation Fund A	9.18%	10.15%	2.34%	0.00%	4.62%	4.61%	1.54%	2.43%	2.52%	2.95%	2.59%	0.96%
PGVFX Polaris Global Value Fund	4.34%	5.17%	5.65%	1.68%	3.55%	4.05%	1.55%	3.69%	3.39%	1.50%	1.32%	1.26%

Frequently Asked Questions

Can I hold both PGVFX and GAOAX in my portfolio?

PGVFX and GAOAX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PGVFX or GAOAX?

PGVFX has higher volatility (4.15%) compared to GAOAX (2.81%). In terms of maximum drawdown, PGVFX dropped -68.09% vs GAOAX's -29.02%.

Which has better risk-adjusted returns?

PGVFX currently has the higher Sharpe Ratio (3.29 vs 1.64), 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.