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TQPAX vs. JMM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

TQPAX vs. JMM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Touchstone Strategic Income Opportunities Fund (TQPAX) and Nuveen Multi-Market Income Fund (JMM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TQPAX achieves a 1.03% return, which is significantly higher than JMM's -0.95% return.


TQPAX

1D
-0.30%
1M
0.74%
YTD
1.03%
6M
1.44%
1Y
5.74%
3Y*
7.76%
5Y*
10Y*

JMM

1D
-0.17%
1M
1.16%
YTD
-0.95%
6M
-0.78%
1Y
-0.14%
3Y*
6.05%
5Y*
0.72%
10Y*
3.00%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TQPAX vs. JMM - Yearly Performance Comparison


2026 (YTD)20252024202320222021
TQPAX
Touchstone Strategic Income Opportunities Fund
1.03%8.97%7.26%8.37%-9.86%-0.64%
JMM
Nuveen Multi-Market Income Fund
-0.95%5.61%8.15%6.57%-17.95%2.83%

Correlation

The correlation between TQPAX and JMM is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.


Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.29

Correlation (3Y)
Calculated over the trailing 3-year period

0.26

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

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

TQPAX
TQPAX Risk / Return Rank: 4545
Overall Rank
TQPAX Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
TQPAX Sortino Ratio Rank: 4242
Sortino Ratio Rank
TQPAX Omega Ratio Rank: 5151
Omega Ratio Rank
TQPAX Calmar Ratio Rank: 4848
Calmar Ratio Rank
TQPAX Martin Ratio Rank: 4444
Martin Ratio Rank

JMM
JMM Risk / Return Rank: 33
Overall Rank
JMM Sharpe Ratio Rank: 33
Sharpe Ratio Rank
JMM Sortino Ratio Rank: 33
Sortino Ratio Rank
JMM Omega Ratio Rank: 33
Omega Ratio Rank
JMM Calmar Ratio Rank: 33
Calmar Ratio Rank
JMM Martin Ratio Rank: 33
Martin Ratio Rank
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.

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.


TQPAXJMMDifference
Sharpe ratioReturn per unit of total volatility

+1.66

Sortino ratioReturn per unit of downside risk

+2.44

Omega ratioGain probability vs. loss probability

1.36

1.01

+0.35

Calmar ratioReturn relative to maximum drawdown

2.54

-0.02

+2.55

Martin ratioReturn relative to average drawdown

8.82

-0.03

+8.86

TQPAX vs. JMM - Sharpe Ratio Comparison

The current TQPAX Sharpe Ratio is 1.65, which is higher than the JMM Sharpe Ratio of -0.01. The chart below compares the historical Sharpe Ratios of TQPAX and JMM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.


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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


TQPAXJMMDifference

Max Drawdown

Largest 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

-4.17%

-9.92%

+5.75%

Max Drawdown (5Y)

Largest decline over 5 years

-24.19%

Max Drawdown (10Y)

Largest decline over 10 years

-26.48%

Current Drawdown

Current decline from peak

-0.59%

-5.93%

+5.34%

Average Drawdown

Average peak-to-trough decline

-4.33%

-14.09%

+9.76%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.69%

4.14%

-3.45%

Volatility

TQPAX vs. JMM - Volatility Comparison

The current volatility for Touchstone Strategic Income Opportunities Fund (TQPAX) is 0.99%, while Nuveen Multi-Market Income Fund (JMM) has a volatility of 3.07%. 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


TQPAXJMMDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.99%

3.07%

-2.08%

Volatility (6M)

Calculated over the trailing 6-month period

2.66%

8.21%

-5.55%

Volatility (1Y)

Calculated over the trailing 1-year period

3.70%

11.86%

-8.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.11%

13.41%

-8.30%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.11%

13.92%

-8.81%

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 4.67%, less than JMM's 5.99% yield.


PositionTTM20252024202320222021202020192018201720162015
JMM
Nuveen Multi-Market Income Fund
5.99%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
4.67%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 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

JMM has higher volatility (3.07%) compared to TQPAX (0.99%). In terms of maximum drawdown, TQPAX dropped -16.94% vs JMM's -48.15%.

TQPAX currently has the higher Sharpe Ratio (1.65 vs -0.01), 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.

Portfolio Optimizer

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