SWZ vs. JOYT

Last updated Jun 24, 2026

SWZ (Total Return Securities Fund) and JOYT (JPMorgan Equity And Options Total Return ETF) are both funds - SWZ is a Large Cap Blend Equities fund, while JOYT is a Derivative Income fund actively managed by JPMorgan. At a 0.38 correlation, their price movements are largely independent. SWZ charges 1.06%/yr vs 0.35%/yr for JOYT.

Performance

SWZ vs. JOYT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Total Return Securities Fund (SWZ) and JPMorgan Equity And Options Total Return ETF (JOYT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SWZ achieves a -5.14% return, which is significantly lower than JOYT's 3.61% return.

SWZ

• 1D: -0.17%
• 1M: -1.09%
• YTD: -5.14%
• 6M: -5.14%
• 1Y: -5.45%
• 3Y*: 22.04%
• 5Y*: 11.58%
• 10Y*: 12.41%

JOYT

• 1D: -1.23%
• 1M: -0.01%
• YTD: 3.61%
• 6M: 3.25%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SWZ vs. JOYT - Yearly Performance Comparison

	2026 (YTD)	2025
SWZ Total Return Securities Fund	-5.14%	2.30%
JOYT JPMorgan Equity And Options Total Return ETF	3.61%	9.15%

Correlation

The correlation between SWZ and JOYT is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025	0.38

Return for Risk

SWZ vs. JOYT — Risk / Return Rank

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

SWZ

SWZ Risk / Return Rank: 1
SWZ Sharpe Ratio Rank: 1
SWZ Sortino Ratio Rank: 1
SWZ Omega Ratio Rank: 1
SWZ Calmar Ratio Rank: 1
SWZ Martin Ratio Rank: 1

JOYT

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

SWZ vs. JOYT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Total Return Securities Fund (SWZ) and JPMorgan Equity And Options Total Return ETF (JOYT). 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.

	SWZ	JOYT	Difference
Sharpe ratio: Return per unit of total volatility	-0.53	—	—
Sortino ratio: Return per unit of downside risk	-0.66	—	—
Omega ratio: Gain probability vs. loss probability	0.91	—	—
Calmar ratio: Return relative to maximum drawdown	-0.71	—	—
Martin ratio: Return relative to average drawdown	-1.19	—	—

Drawdowns

SWZ vs. JOYT - Drawdown Comparison

The maximum SWZ drawdown since its inception was -69.62%, which is greater than JOYT's maximum drawdown of -6.99%. Use the drawdown chart below to compare losses from any high point for SWZ and JOYT.

Drawdown Indicators

	SWZ	JOYT	Difference
Max Drawdown Largest peak-to-trough decline	-69.62%	-6.99%	-62.63%
Max Drawdown (1Y) Largest decline over 1 year	-7.73%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.52%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.36%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-31.21%	—	—
Current Drawdown Current decline from peak	-8.10%	-1.64%	-6.46%
Average Drawdown Average peak-to-trough decline	-21.94%	-0.89%	-21.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.60%	—	—

Volatility

Volatility by Period

	SWZ	JOYT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.08%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.58%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.26%	9.83%	+0.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.25%	9.83%	+17.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.75%	9.83%	+12.92%

SWZ vs. JOYT - Expense Ratio Comparison

SWZ has a 1.06% expense ratio, which is higher than JOYT's 0.35% expense ratio.

Dividends

SWZ vs. JOYT - Dividend Comparison

SWZ has not paid dividends to shareholders, while JOYT's dividend yield for the trailing twelve months is around 0.46%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JOYT JPMorgan Equity And Options Total Return ETF	0.46%	0.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SWZ Total Return Securities Fund	0.00%	98.81%	7.11%	6.07%	8.23%	5.83%	6.25%	1.67%	74.09%	1.02%	5.00%	6.72%

Frequently Asked Questions

Can I hold both SWZ and JOYT in my portfolio?

SWZ and JOYT have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.