SDRIX vs. JHQTX

Last updated Apr 2, 2026

Compare and contrast key facts about Swan Defined Risk Fund (SDRIX) and JPMorgan Hedged Equity 3 Fund (JHQTX).

SDRIX is managed by Swan. It was launched on Jul 29, 2012. JHQTX is managed by JPMorgan. It was launched on Feb 25, 2021.

Performance

SDRIX vs. JHQTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Swan Defined Risk Fund (SDRIX) and JPMorgan Hedged Equity 3 Fund (JHQTX). The values are adjusted to include any dividend payments, if applicable.

SDRIX vs. JHQTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SDRIX Swan Defined Risk Fund	-2.71%	10.72%	4.91%	12.37%	-12.84%	15.14%
JHQTX JPMorgan Hedged Equity 3 Fund	-3.00%	9.32%	16.76%	18.60%	-14.49%	13.16%

Returns By Period

In the year-to-date period, SDRIX achieves a -2.71% return, which is significantly higher than JHQTX's -3.00% return.

SDRIX

• 1D: 1.55%
• 1M: -3.43%
• YTD: -2.71%
• 6M: -1.14%
• 1Y: 8.97%
• 3Y*: 7.35%
• 5Y*: 4.50%
• 10Y*: 5.10%

JHQTX

• 1D: 1.50%
• 1M: -2.96%
• YTD: -3.00%
• 6M: -0.33%
• 1Y: 9.68%
• 3Y*: 12.41%
• 5Y*: 6.59%
• 10Y*: —

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

SDRIX vs. JHQTX - Expense Ratio Comparison

SDRIX has a 1.18% expense ratio, which is higher than JHQTX's 0.60% expense ratio.

SDRIX

Swan Defined Risk Fund

JHQTX

JPMorgan Hedged Equity 3 Fund

Return for Risk

SDRIX vs. JHQTX — Risk / Return Rank

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

SDRIX

SDRIX Risk / Return Rank: 57
SDRIX Sharpe Ratio Rank: 51
SDRIX Sortino Ratio Rank: 48
SDRIX Omega Ratio Rank: 47
SDRIX Calmar Ratio Rank: 71
SDRIX Martin Ratio Rank: 71

JHQTX

JHQTX Risk / Return Rank: 58
JHQTX Sharpe Ratio Rank: 51
JHQTX Sortino Ratio Rank: 55
JHQTX Omega Ratio Rank: 55
JHQTX Calmar Ratio Rank: 65
JHQTX Martin Ratio Rank: 63

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.

SDRIX vs. JHQTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Swan Defined Risk Fund (SDRIX) and JPMorgan Hedged Equity 3 Fund (JHQTX). 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.

	SDRIX	JHQTX	Difference
Sharpe ratio Return per unit of total volatility	1.05	1.07	-0.02
Sortino ratio Return per unit of downside risk	1.47	1.60	-0.13
Omega ratio Gain probability vs. loss probability	1.21	1.24	-0.02
Calmar ratio Return relative to maximum drawdown	1.79	1.71	+0.08
Martin ratio Return relative to average drawdown	7.35	6.76	+0.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SDRIX vs. JHQTX - Sharpe Ratio Comparison

The current SDRIX Sharpe Ratio is 1.05, which is comparable to the JHQTX Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of SDRIX and JHQTX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SDRIX	JHQTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.05	1.07	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.68	-0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.74	-0.20

Correlation

The correlation between SDRIX and JHQTX is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

SDRIX vs. JHQTX - Dividend Comparison

SDRIX's dividend yield for the trailing twelve months is around 10.84%, more than JHQTX's 0.51% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SDRIX Swan Defined Risk Fund	10.84%	10.55%	0.00%	12.37%	0.00%	0.00%	0.34%	1.21%	1.00%	0.76%	1.42%	0.78%
JHQTX JPMorgan Hedged Equity 3 Fund	0.51%	0.50%	0.70%	0.94%	1.99%	0.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

SDRIX vs. JHQTX - Drawdown Comparison

The maximum SDRIX drawdown since its inception was -20.69%, which is greater than JHQTX's maximum drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for SDRIX and JHQTX.

Drawdown Indicators

	SDRIX	JHQTX	Difference
Max Drawdown Largest peak-to-trough decline	-20.69%	-18.72%	-1.97%
Max Drawdown (1Y) Largest decline over 1 year	-5.34%	-5.98%	+0.64%
Max Drawdown (5Y) Largest decline over 5 years	-17.67%	-18.72%	+1.05%
Max Drawdown (10Y) Largest decline over 10 years	-20.69%	—	—
Current Drawdown Current decline from peak	-3.82%	-4.37%	+0.55%
Average Drawdown Average peak-to-trough decline	-3.59%	-4.25%	+0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.30%	1.51%	-0.21%

Volatility

SDRIX vs. JHQTX - Volatility Comparison

Swan Defined Risk Fund (SDRIX) has a higher volatility of 3.47% compared to JPMorgan Hedged Equity 3 Fund (JHQTX) at 2.92%. This indicates that SDRIX's price experiences larger fluctuations and is considered to be riskier than JHQTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SDRIX	JHQTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.47%	2.92%	+0.55%
Volatility (6M) Calculated over the trailing 6-month period	5.82%	5.80%	+0.02%
Volatility (1Y) Calculated over the trailing 1-year period	8.74%	9.50%	-0.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.60%	9.69%	-0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.67%	9.66%	+0.01%