VFH vs. UBVSX

Last updated Jun 4, 2026

VFH (Vanguard Financials ETF) and UBVSX (JPMorgan Undiscovered Managers Behavioral Value Fund Class I) are both funds - VFH is a Financials Equities fund tracking the MSCI US Investable Market Financials 25/50 Index, while UBVSX is a Small Cap Value Equities fund actively managed by JPMorgan. VFH is passively managed, while UBVSX is actively managed. Over the past 10 years, VFH returned 12.20%/yr vs 9.90%/yr for UBVSX. Their correlation of 0.84 suggests significant overlap in exposure. VFH charges 0.10%/yr vs 0.99%/yr for UBVSX.

Performance

VFH vs. UBVSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Financials ETF (VFH) and JPMorgan Undiscovered Managers Behavioral Value Fund Class I (UBVSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VFH achieves a -6.40% return, which is significantly lower than UBVSX's 7.49% return. Over the past 10 years, VFH has outperformed UBVSX with an annualized return of 12.20%, while UBVSX has yielded a comparatively lower 9.90% annualized return.

VFH

• 1D: -1.39%
• 1M: -1.74%
• YTD: -6.40%
• 6M: -3.96%
• 1Y: 2.39%
• 3Y*: 18.44%
• 5Y*: 7.83%
• 10Y*: 12.20%

UBVSX

• 1D: 0.55%
• 1M: 2.17%
• YTD: 7.49%
• 6M: 8.47%
• 1Y: 14.71%
• 3Y*: 12.74%
• 5Y*: 7.19%
• 10Y*: 9.90%

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

VFH vs. UBVSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VFH Vanguard Financials ETF	-6.40%	14.91%	30.44%	14.17%	-12.31%	35.22%	-1.96%	31.57%	-13.52%	19.99%
UBVSX JPMorgan Undiscovered Managers Behavioral Value Fund Class I	7.49%	1.70%	13.03%	14.59%	-1.26%	34.05%	3.35%	23.11%	-15.37%	13.26%

Correlation

The correlation between VFH and UBVSX is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014	0.85

The correlation between VFH and UBVSX shifts across timeframes, from 0.69 (1 year) to 0.85 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

VFH vs. UBVSX — Risk / Return Rank

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

VFH

VFH Risk / Return Rank: 10
VFH Sharpe Ratio Rank: 11
VFH Sortino Ratio Rank: 10
VFH Omega Ratio Rank: 10
VFH Calmar Ratio Rank: 10
VFH Martin Ratio Rank: 10

UBVSX

UBVSX Risk / Return Rank: 15
UBVSX Sharpe Ratio Rank: 13
UBVSX Sortino Ratio Rank: 15
UBVSX Omega Ratio Rank: 13
UBVSX Calmar Ratio Rank: 19
UBVSX Martin Ratio Rank: 16

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.

VFH vs. UBVSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Financials ETF (VFH) and JPMorgan Undiscovered Managers Behavioral Value Fund Class I (UBVSX). 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.

	VFH	UBVSX	Difference
Sharpe ratio: Return per unit of total volatility	0.16	0.99	-0.82
Sortino ratio: Return per unit of downside risk	0.32	1.59	-1.27
Omega ratio: Gain probability vs. loss probability	1.04	1.18	-0.14
Calmar ratio: Return relative to maximum drawdown	0.16	1.59	-1.43
Martin ratio: Return relative to average drawdown	0.43	4.41	-3.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VFH vs. UBVSX - Sharpe Ratio Comparison

The current VFH Sharpe Ratio is 0.16, which is lower than the UBVSX Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of VFH and UBVSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VFH	UBVSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.16	0.99	-0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.36	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.40	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.41	-0.17

Drawdowns

VFH vs. UBVSX - Drawdown Comparison

The maximum VFH drawdown since its inception was -78.61%, which is greater than UBVSX's maximum drawdown of -52.19%. Use the drawdown chart below to compare losses from any high point for VFH and UBVSX.

Drawdown Indicators

	VFH	UBVSX	Difference
Max Drawdown Largest peak-to-trough decline	-78.61%	-52.19%	-26.42%
Max Drawdown (1Y) Largest decline over 1 year	-14.75%	-10.36%	-4.39%
Max Drawdown (3Y) Largest decline over 3 years	-17.30%	-21.48%	+4.18%
Max Drawdown (5Y) Largest decline over 5 years	-25.66%	-21.48%	-4.18%
Max Drawdown (10Y) Largest decline over 10 years	-44.42%	-52.19%	+7.77%
Current Drawdown Current decline from peak	-9.24%	-2.09%	-7.15%
Average Drawdown Average peak-to-trough decline	-18.54%	-6.28%	-12.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.55%	3.72%	+1.83%

Volatility

VFH vs. UBVSX - Volatility Comparison

The current volatility for Vanguard Financials ETF (VFH) is 3.34%, while JPMorgan Undiscovered Managers Behavioral Value Fund Class I (UBVSX) has a volatility of 4.29%. This indicates that VFH experiences smaller price fluctuations and is considered to be less risky than UBVSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VFH	UBVSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.34%	4.29%	-0.95%
Volatility (6M) Calculated over the trailing 6-month period	11.10%	10.76%	+0.34%
Volatility (1Y) Calculated over the trailing 1-year period	14.79%	16.70%	-1.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.31%	20.33%	-1.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.54%	24.61%	-2.07%

VFH vs. UBVSX - Expense Ratio Comparison

VFH has a 0.10% expense ratio, which is lower than UBVSX's 0.99% expense ratio.

Dividends

VFH vs. UBVSX - Dividend Comparison

VFH's dividend yield for the trailing twelve months is around 1.56%, less than UBVSX's 8.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UBVSX JPMorgan Undiscovered Managers Behavioral Value Fund Class I	8.70%	9.35%	7.36%	8.30%	8.89%	3.34%	0.90%	4.85%	11.46%	4.53%	3.11%	3.69%
VFH Vanguard Financials ETF	1.56%	1.55%	1.75%	2.08%	2.31%	1.87%	2.21%	2.17%	2.30%	1.53%	1.63%	2.00%

Frequently Asked Questions

Can I hold both VFH and UBVSX in my portfolio?

VFH and UBVSX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VFH or UBVSX?

UBVSX has higher volatility (4.29%) compared to VFH (3.34%). In terms of maximum drawdown, VFH dropped -78.61% vs UBVSX's -52.19%.

Which has better risk-adjusted returns?

UBVSX currently has the higher Sharpe Ratio (0.99 vs 0.16), 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.