TANDX vs. HLEIX

Last updated Apr 1, 2026

Compare and contrast key facts about Castle Tandem Fund (TANDX) and JPMorgan Equity Index Fund Class I (HLEIX).

TANDX is managed by Castle Investment Management. It was launched on Mar 15, 2019. HLEIX is a passively managed fund by JPMorgan that tracks the performance of the S&P 500 Index. It was launched on Jul 2, 1991.

Performance

TANDX vs. HLEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Castle Tandem Fund (TANDX) and JPMorgan Equity Index Fund Class I (HLEIX). The values are adjusted to include any dividend payments, if applicable.

TANDX vs. HLEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
TANDX Castle Tandem Fund	-9.28%	3.67%	7.66%	8.42%	-7.87%	19.03%	13.39%	12.57%
HLEIX JPMorgan Equity Index Fund Class I	-7.31%	17.65%	24.78%	26.02%	-18.29%	28.44%	18.19%	16.94%

Returns By Period

In the year-to-date period, TANDX achieves a -9.28% return, which is significantly lower than HLEIX's -7.31% return.

TANDX

• 1D: 0.79%
• 1M: -6.24%
• YTD: -9.28%
• 6M: -10.00%
• 1Y: -10.50%
• 3Y*: 2.42%
• 5Y*: 3.29%
• 10Y*: —

HLEIX

• 1D: -0.40%
• 1M: -7.91%
• YTD: -7.31%
• 6M: -4.91%
• 1Y: 13.97%
• 3Y*: 16.86%
• 5Y*: 11.14%
• 10Y*: 13.50%

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

TANDX vs. HLEIX - Expense Ratio Comparison

TANDX has a 1.59% expense ratio, which is higher than HLEIX's 0.38% expense ratio.

TANDX

Castle Tandem Fund

HLEIX

JPMorgan Equity Index Fund Class I

Return for Risk

TANDX vs. HLEIX — Risk / Return Rank

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

TANDX

TANDX Risk / Return Rank: 0
TANDX Sharpe Ratio Rank: 1
TANDX Sortino Ratio Rank: 0
TANDX Omega Ratio Rank: 1
TANDX Calmar Ratio Rank: 0
TANDX Martin Ratio Rank: 0

HLEIX

HLEIX Risk / Return Rank: 43
HLEIX Sharpe Ratio Rank: 38
HLEIX Sortino Ratio Rank: 41
HLEIX Omega Ratio Rank: 46
HLEIX Calmar Ratio Rank: 39
HLEIX Martin Ratio Rank: 50

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.

TANDX vs. HLEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Castle Tandem Fund (TANDX) and JPMorgan Equity Index Fund Class I (HLEIX). 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.

	TANDX	HLEIX	Difference
Sharpe ratio Return per unit of total volatility	-0.81	0.81	-1.62
Sortino ratio Return per unit of downside risk	-1.07	1.26	-2.33
Omega ratio Gain probability vs. loss probability	0.86	1.19	-0.33
Calmar ratio Return relative to maximum drawdown	-0.79	1.02	-1.81
Martin ratio Return relative to average drawdown	-2.33	4.93	-7.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TANDX vs. HLEIX - Sharpe Ratio Comparison

The current TANDX Sharpe Ratio is -0.81, which is lower than the HLEIX Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of TANDX and HLEIX, 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

	TANDX	HLEIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.81	0.81	-1.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.00	0.66	-0.66
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.75	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.01	0.56	-0.55

Correlation

The correlation between TANDX and HLEIX is 0.78, 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

TANDX vs. HLEIX - Dividend Comparison

TANDX's dividend yield for the trailing twelve months is around 6.80%, more than HLEIX's 0.99% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TANDX Castle Tandem Fund	6.80%	6.17%	3.71%	2.10%	1.48%	4.57%	0.33%	0.37%	0.00%	0.00%	0.00%	0.00%
HLEIX JPMorgan Equity Index Fund Class I	0.99%	1.12%	1.09%	1.32%	1.50%	2.39%	1.58%	2.02%	2.16%	2.46%	11.24%	20.30%

Drawdowns

TANDX vs. HLEIX - Drawdown Comparison

The maximum TANDX drawdown since its inception was -95.17%, which is greater than HLEIX's maximum drawdown of -55.22%. Use the drawdown chart below to compare losses from any high point for TANDX and HLEIX.

Drawdown Indicators

	TANDX	HLEIX	Difference
Max Drawdown Largest peak-to-trough decline	-95.17%	-55.22%	-39.95%
Max Drawdown (1Y) Largest decline over 1 year	-13.14%	-12.12%	-1.02%
Max Drawdown (5Y) Largest decline over 5 years	-95.17%	-24.62%	-70.55%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.73%	—
Current Drawdown Current decline from peak	-95.13%	-9.14%	-85.99%
Average Drawdown Average peak-to-trough decline	-18.89%	-8.83%	-10.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.43%	2.50%	+1.93%

Volatility

TANDX vs. HLEIX - Volatility Comparison

The current volatility for Castle Tandem Fund (TANDX) is 3.00%, while JPMorgan Equity Index Fund Class I (HLEIX) has a volatility of 4.33%. This indicates that TANDX experiences smaller price fluctuations and is considered to be less risky than HLEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TANDX	HLEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.00%	4.33%	-1.33%
Volatility (6M) Calculated over the trailing 6-month period	7.28%	9.13%	-1.85%
Volatility (1Y) Calculated over the trailing 1-year period	12.04%	18.16%	-6.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1,010.25%	16.85%	+993.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	852.68%	18.03%	+834.65%