QDSNX vs. JMSIX

Last updated Jun 4, 2026

QDSNX (AQR Diversifying Strategies Fund Class N) and JMSIX (JPMorgan Income Fund) are both mutual funds - QDSNX is a Tactical Allocation fund actively managed by AQR Funds, while JMSIX is a Multisector Bonds fund managed by JPMorgan. Over the past 5 years, QDSNX returned 10.95%/yr vs 2.81%/yr for JMSIX. At a correlation of -0.07, they often move in opposite directions. QDSNX charges 3.30%/yr vs 0.40%/yr for JMSIX.

Performance

QDSNX vs. JMSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Diversifying Strategies Fund Class N (QDSNX) and JPMorgan Income Fund (JMSIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QDSNX achieves a 6.30% return, which is significantly higher than JMSIX's 1.35% return.

QDSNX

• 1D: 0.07%
• 1M: 1.50%
• YTD: 6.30%
• 6M: 7.81%
• 1Y: 14.76%
• 3Y*: 13.72%
• 5Y*: 10.95%
• 10Y*: —

JMSIX

• 1D: 0.12%
• 1M: 0.39%
• YTD: 1.35%
• 6M: 1.85%
• 1Y: 5.92%
• 3Y*: 7.12%
• 5Y*: 2.81%
• 10Y*: 3.98%

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

QDSNX vs. JMSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
QDSNX AQR Diversifying Strategies Fund Class N	6.30%	16.14%	9.56%	8.62%	14.48%	10.35%	5.40%
JMSIX JPMorgan Income Fund	1.35%	7.68%	7.78%	6.14%	-8.24%	3.59%	7.91%

Correlation

The correlation between QDSNX and JMSIX is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (5Y) Calculated over the trailing 5-year period	-0.10
Correlation (All Time) Calculated using the full available price history since Jun 11, 2020	-0.07

The correlation between QDSNX and JMSIX shifts across timeframes, from -0.10 (5 years) to 0.05 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

QDSNX vs. JMSIX — Risk / Return Rank

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

QDSNX

QDSNX Risk / Return Rank: 92
QDSNX Sharpe Ratio Rank: 91
QDSNX Sortino Ratio Rank: 92
QDSNX Omega Ratio Rank: 86
QDSNX Calmar Ratio Rank: 98
QDSNX Martin Ratio Rank: 95

JMSIX

JMSIX Risk / Return Rank: 80
JMSIX Sharpe Ratio Rank: 61
JMSIX Sortino Ratio Rank: 92
JMSIX Omega Ratio Rank: 87
JMSIX Calmar Ratio Rank: 79
JMSIX Martin Ratio Rank: 79

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.

QDSNX vs. JMSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Diversifying Strategies Fund Class N (QDSNX) and JPMorgan Income Fund (JMSIX). 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.

	QDSNX	JMSIX	Difference
Sharpe ratio: Return per unit of total volatility	3.02	2.30	+0.72
Sortino ratio: Return per unit of downside risk	4.54	4.54	0.00
Omega ratio: Gain probability vs. loss probability	1.59	1.60	-0.01
Calmar ratio: Return relative to maximum drawdown	7.63	3.59	+4.04
Martin ratio: Return relative to average drawdown	22.05	14.87	+7.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QDSNX vs. JMSIX - Sharpe Ratio Comparison

The current QDSNX Sharpe Ratio is 3.02, which is higher than the JMSIX Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of QDSNX and JMSIX, 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

	QDSNX	JMSIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.02	2.30	+0.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.44	0.76	+0.69
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.03	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.63	0.79	+0.84

Drawdowns

QDSNX vs. JMSIX - Drawdown Comparison

The maximum QDSNX drawdown since its inception was -7.15%, smaller than the maximum JMSIX drawdown of -18.40%. Use the drawdown chart below to compare losses from any high point for QDSNX and JMSIX.

Drawdown Indicators

	QDSNX	JMSIX	Difference
Max Drawdown Largest peak-to-trough decline	-7.15%	-18.40%	+11.25%
Max Drawdown (1Y) Largest decline over 1 year	-1.97%	-1.62%	-0.35%
Max Drawdown (3Y) Largest decline over 3 years	-6.93%	-2.31%	-4.62%
Max Drawdown (5Y) Largest decline over 5 years	-7.15%	-11.39%	+4.24%
Max Drawdown (10Y) Largest decline over 10 years	—	-18.40%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.46%	-2.57%	+1.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.68%	0.39%	+0.29%

Volatility

QDSNX vs. JMSIX - Volatility Comparison

AQR Diversifying Strategies Fund Class N (QDSNX) has a higher volatility of 1.38% compared to JPMorgan Income Fund (JMSIX) at 0.82%. This indicates that QDSNX's price experiences larger fluctuations and is considered to be riskier than JMSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QDSNX	JMSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.38%	0.82%	+0.56%
Volatility (6M) Calculated over the trailing 6-month period	3.57%	1.88%	+1.69%
Volatility (1Y) Calculated over the trailing 1-year period	4.99%	2.53%	+2.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.63%	3.73%	+3.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.31%	3.87%	+3.44%

QDSNX vs. JMSIX - Expense Ratio Comparison

QDSNX has a 3.30% expense ratio, which is higher than JMSIX's 0.40% expense ratio.

Dividends

QDSNX vs. JMSIX - Dividend Comparison

QDSNX's dividend yield for the trailing twelve months is around 1.87%, less than JMSIX's 6.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
JMSIX JPMorgan Income Fund	6.02%	5.95%	5.78%	4.43%	4.78%	4.00%	4.95%	5.10%	5.43%	5.42%	0.46%
QDSNX AQR Diversifying Strategies Fund Class N	1.87%	1.99%	0.00%	11.18%	8.01%	5.99%	1.83%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QDSNX and JMSIX in my portfolio?

QDSNX and JMSIX have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QDSNX or JMSIX?

QDSNX has higher volatility (1.38%) compared to JMSIX (0.82%). In terms of maximum drawdown, QDSNX dropped -7.15% vs JMSIX's -18.40%.

Which has better risk-adjusted returns?

QDSNX currently has the higher Sharpe Ratio (3.02 vs 2.30), 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.