PMBAX vs. JUEMX
PMBAX (JPMorgan Tax Free Bond Fund) and JUEMX (JPMorgan U.S. Equity Fund R6) are both mutual funds - PMBAX is a Municipal Bonds fund managed by JPMorgan, while JUEMX is a Large Cap Blend Equities fund managed by JPMorgan. Over the past 10 years, PMBAX returned 1.48%/yr vs 16.20%/yr for JUEMX. At a correlation of -0.07, they often move in opposite directions. PMBAX charges 0.67%/yr vs 0.44%/yr for JUEMX.
Performance
PMBAX vs. JUEMX - Performance Comparison
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Returns By Period
In the year-to-date period, PMBAX achieves a 1.29% return, which is significantly lower than JUEMX's 5.65% return. Over the past 10 years, PMBAX has underperformed JUEMX with an annualized return of 1.48%, while JUEMX has yielded a comparatively higher 16.20% annualized return.
PMBAX
- 1D
- 0.19%
- 1M
- 1.71%
- YTD
- 1.29%
- 6M
- 1.50%
- 1Y
- 5.52%
- 3Y*
- 3.40%
- 5Y*
- -0.21%
- 10Y*
- 1.48%
JUEMX
- 1D
- 1.13%
- 1M
- 1.42%
- YTD
- 5.65%
- 6M
- 5.11%
- 1Y
- 20.07%
- 3Y*
- 20.36%
- 5Y*
- 13.83%
- 10Y*
- 16.20%
PMBAX vs. JUEMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMBAX JPMorgan Tax Free Bond Fund | 1.29% | 3.45% | 1.86% | 6.39% | -13.14% | 2.37% | 5.45% | 7.44% | 0.46% | 4.87% |
JUEMX JPMorgan U.S. Equity Fund R6 | 5.65% | 14.75% | 31.28% | 27.37% | -18.74% | 28.66% | 26.70% | 32.40% | -5.80% | 21.70% |
Correlation
The correlation between PMBAX and JUEMX is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2010 | -0.07 |
The correlation between PMBAX and JUEMX shifts across timeframes, from -0.07 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PMBAX vs. JUEMX — Risk / Return Rank
PMBAX
JUEMX
PMBAX vs. JUEMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Tax Free Bond Fund (PMBAX) and JPMorgan U.S. Equity Fund R6 (JUEMX). 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.
| PMBAX | JUEMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.28 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 1.68 | +0.16 |
| Martin ratioReturn relative to average drawdown | 6.01 | 6.67 | -0.66 |
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Drawdowns
PMBAX vs. JUEMX - Drawdown Comparison
The maximum PMBAX drawdown since its inception was -18.95%, smaller than the maximum JUEMX drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for PMBAX and JUEMX.
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Drawdown Indicators
| PMBAX | JUEMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.95% | -33.37% | +14.42% |
Max Drawdown (1Y)Largest decline over 1 year | -3.02% | -11.90% | +8.88% |
Max Drawdown (3Y)Largest decline over 3 years | -8.07% | -19.10% | +11.03% |
Max Drawdown (5Y)Largest decline over 5 years | -18.95% | -24.52% | +5.57% |
Max Drawdown (10Y)Largest decline over 10 years | -18.95% | -33.37% | +14.42% |
Current DrawdownCurrent decline from peak | -1.97% | -0.73% | -1.24% |
Average DrawdownAverage peak-to-trough decline | -2.55% | -4.07% | +1.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 2.99% | -2.07% |
Volatility
PMBAX vs. JUEMX - Volatility Comparison
The current volatility for JPMorgan Tax Free Bond Fund (PMBAX) is 0.65%, while JPMorgan U.S. Equity Fund R6 (JUEMX) has a volatility of 5.24%. This indicates that PMBAX experiences smaller price fluctuations and is considered to be less risky than JUEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMBAX | JUEMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.65% | 5.24% | -4.59% |
Volatility (6M)Calculated over the trailing 6-month period | 1.99% | 10.48% | -8.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.59% | 12.97% | -10.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.51% | 17.52% | -13.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.60% | 18.61% | -14.01% |
PMBAX vs. JUEMX - Expense Ratio Comparison
PMBAX has a 0.67% expense ratio, which is higher than JUEMX's 0.44% expense ratio.
Dividends
PMBAX vs. JUEMX - Dividend Comparison
PMBAX's dividend yield for the trailing twelve months is around 3.29%, less than JUEMX's 5.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JUEMX JPMorgan U.S. Equity Fund R6 | 5.63% | 5.93% | 12.09% | 2.14% | 5.20% | 10.82% | 6.70% | 10.14% | 14.65% | 8.81% | 4.87% | 6.27% |
PMBAX JPMorgan Tax Free Bond Fund | 3.29% | 3.55% | 3.51% | 3.33% | 2.92% | 2.11% | 2.20% | 2.71% | 3.41% | 3.24% | 5.46% | 4.46% |
Frequently Asked Questions
PMBAX and JUEMX have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JUEMX has higher volatility (5.24%) compared to PMBAX (0.65%). In terms of maximum drawdown, PMBAX dropped -18.95% vs JUEMX's -33.37%.
PMBAX currently has the higher Sharpe Ratio (2.14 vs 1.54), 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.
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