TQPAX vs. JMM
TQPAX (Touchstone Strategic Income Opportunities Fund) and JMM (Nuveen Multi-Market Income Fund) are both Multisector Bonds funds. Over the past 5 years, TQPAX returned 2.59%/yr vs 0.49%/yr for JMM. Their 0.23 correlation means their historical movements had little consistent relationship. TQPAX charges 1.00%/yr vs 0.04%/yr for JMM.
Performance
TQPAX vs. JMM - Performance Comparison
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Returns By Period
In the year-to-date period, TQPAX achieves a 0.62% return, which is significantly higher than JMM's -1.14% return.
TQPAX
- 1D
- -0.23%
- 1M
- -0.84%
- 6M
- -0.06%
- YTD
- 0.62%
- 1Y
- 4.18%
- 3Y*
- 7.21%
- 5Y*
- 2.59%
- 10Y*
- —
- ALL TIME*
- 2.67%
JMM
- 1D
- -0.52%
- 1M
- -1.04%
- 6M
- -3.99%
- YTD
- -1.14%
- 1Y
- -4.21%
- 3Y*
- 5.03%
- 5Y*
- 0.49%
- 10Y*
- 2.91%
- ALL TIME*
- 2.92%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $40.44K | $35.48K | $52.62K | |
| $0.00 | $0.00 | $0.00 |
TQPAX vs. JMM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TQPAX Touchstone Strategic Income Opportunities Fund | 0.62% | 8.97% | 7.26% | 8.37% | -9.86% | -0.64% |
JMM Nuveen Multi-Market Income Fund | -1.14% | 5.61% | 8.15% | 6.57% | -17.95% | 2.83% |
Correlation
The correlation between TQPAX and JMM is 0.26, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.26 |
Correlation (3Y) Balances recent behavior with more history. | 0.25 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.23 |
Correlation (All Time) Calculated using the full available price history since Jul 19, 2021 | 0.23 |
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Return for Risk
TQPAX vs. JMM — Risk / Return Rank
TQPAX
JMM
TQPAX vs. JMM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Touchstone Strategic Income Opportunities Fund (TQPAX) and Nuveen Multi-Market Income Fund (JMM). 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.
| TQPAX | JMM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.58 | ||
| Sortino ratioReturn per unit of downside risk | +2.30 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 0.96 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 2.02 | -0.36 | +2.38 |
| Martin ratioReturn relative to average drawdown | 6.58 | -0.66 | +7.24 |
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Drawdowns
TQPAX vs. JMM - Drawdown Comparison
The maximum TQPAX drawdown since its inception was -16.94%, smaller than the maximum JMM drawdown of -48.15%. Use the drawdown chart below to compare losses from any high point for TQPAX and JMM.
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Drawdown Indicators
| TQPAX | JMM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.94% | -48.15% | +31.21% |
Max Drawdown (1Y)Largest decline over 1 year | -2.40% | -8.28% | +5.88% |
Max Drawdown (3Y)Largest decline over 3 years | -3.67% | -9.92% | +6.25% |
Max Drawdown (5Y)Largest decline over 5 years | -16.94% | -24.19% | +7.25% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.48% | — |
Current DrawdownCurrent decline from peak | -1.14% | -6.11% | +4.97% |
Average DrawdownAverage peak-to-trough decline | -4.25% | -14.07% | +9.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.74% | 4.52% | -3.78% |
Volatility
TQPAX vs. JMM - Volatility Comparison
The current volatility for Touchstone Strategic Income Opportunities Fund (TQPAX) is 1.01%, while Nuveen Multi-Market Income Fund (JMM) has a volatility of 2.51%. This indicates that TQPAX experiences smaller price fluctuations and is considered to be less risky than JMM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TQPAX | JMM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 2.51% | -1.50% |
Volatility (6M)Calculated over the trailing 6-month period | 2.73% | 8.28% | -5.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.73% | 10.98% | -7.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.10% | 13.40% | -8.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.08% | 13.90% | -8.82% |
TQPAX vs. JMM - Expense Ratio Comparison
TQPAX has a 1.00% expense ratio, which is higher than JMM's 0.04% expense ratio.
Dividends
TQPAX vs. JMM - Dividend Comparison
TQPAX's dividend yield for the trailing twelve months is around 4.79%, less than JMM's 6.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JMM Nuveen Multi-Market Income Fund | 6.03% | 5.76% | 5.48% | 5.58% | 6.13% | 4.60% | 4.49% | 4.86% | 5.34% | 5.63% | 6.19% | 6.76% |
TQPAX Touchstone Strategic Income Opportunities Fund | 4.79% | 4.20% | 4.43% | 4.95% | 4.02% | 1.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TQPAX and JMM have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JMM has higher volatility (2.51%) compared to TQPAX (1.01%). In terms of maximum drawdown, TQPAX dropped -16.94% vs JMM's -48.15%.
TQPAX currently has the higher Sharpe Ratio (1.30 vs -0.27), 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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