VGRIX vs. TOWFX

Last updated Jun 4, 2026

VGRIX (JPMorgan U.S. Value Fund) and TOWFX (Towpath Focus Fund) are both Large Cap Value Equities funds. Over the past 5 years, VGRIX returned 10.13%/yr vs 10.98%/yr for TOWFX. Their correlation of 0.89 suggests significant overlap in exposure. VGRIX charges 0.94%/yr vs 1.11%/yr for TOWFX.

Performance

VGRIX vs. TOWFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan U.S. Value Fund (VGRIX) and Towpath Focus Fund (TOWFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VGRIX achieves a 9.25% return, which is significantly higher than TOWFX's 6.25% return.

VGRIX

• 1D: 0.64%
• 1M: 2.00%
• YTD: 9.25%
• 6M: 10.18%
• 1Y: 22.23%
• 3Y*: 16.17%
• 5Y*: 10.13%
• 10Y*: 12.03%

TOWFX

• 1D: -0.54%
• 1M: -0.83%
• YTD: 6.25%
• 6M: 7.35%
• 1Y: 22.78%
• 3Y*: 18.68%
• 5Y*: 10.98%
• 10Y*: —

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

VGRIX vs. TOWFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
VGRIX JPMorgan U.S. Value Fund	9.25%	13.64%	16.17%	9.18%	-2.56%	26.83%	4.27%
TOWFX Towpath Focus Fund	6.25%	23.51%	13.22%	12.33%	-2.06%	26.52%	19.46%

Correlation

The correlation between VGRIX and TOWFX is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jan 2, 2020	0.89

The correlation between VGRIX and TOWFX shifts across timeframes, from 0.74 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VGRIX vs. TOWFX — Risk / Return Rank

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

VGRIX

VGRIX Risk / Return Rank: 57
VGRIX Sharpe Ratio Rank: 55
VGRIX Sortino Ratio Rank: 55
VGRIX Omega Ratio Rank: 51
VGRIX Calmar Ratio Rank: 64
VGRIX Martin Ratio Rank: 61

TOWFX

TOWFX Risk / Return Rank: 79
TOWFX Sharpe Ratio Rank: 75
TOWFX Sortino Ratio Rank: 77
TOWFX Omega Ratio Rank: 63
TOWFX Calmar Ratio Rank: 91
TOWFX Martin Ratio Rank: 90

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.

VGRIX vs. TOWFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan U.S. Value Fund (VGRIX) and Towpath Focus Fund (TOWFX). 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.

	VGRIX	TOWFX	Difference
Sharpe ratio Return per unit of total volatility	2.19	2.52	-0.32
Sortino ratio Return per unit of downside risk	3.14	3.68	-0.54
Omega ratio Gain probability vs. loss probability	1.39	1.44	-0.05
Calmar ratio Return relative to maximum drawdown	3.08	4.79	-1.71
Martin ratio Return relative to average drawdown	12.03	18.21	-6.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VGRIX vs. TOWFX - Sharpe Ratio Comparison

The current VGRIX Sharpe Ratio is 2.19, which is comparable to the TOWFX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of VGRIX and TOWFX, 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

	VGRIX	TOWFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.19	2.52	-0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.01	+0.70
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.70	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.02	+0.63

Drawdowns

VGRIX vs. TOWFX - Drawdown Comparison

The maximum VGRIX drawdown since its inception was -58.30%, smaller than the maximum TOWFX drawdown of -96.18%. Use the drawdown chart below to compare losses from any high point for VGRIX and TOWFX.

Drawdown Indicators

	VGRIX	TOWFX	Difference
Max Drawdown Largest peak-to-trough decline	-58.30%	-96.18%	+37.88%
Max Drawdown (1Y) Largest decline over 1 year	-7.48%	-4.72%	-2.76%
Max Drawdown (3Y) Largest decline over 3 years	-14.47%	-96.18%	+81.71%
Max Drawdown (5Y) Largest decline over 5 years	-15.36%	-96.18%	+80.82%
Max Drawdown (10Y) Largest decline over 10 years	-38.59%	—	—
Current Drawdown Current decline from peak	0.00%	-94.75%	+94.75%
Average Drawdown Average peak-to-trough decline	-7.83%	-23.07%	+15.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	1.24%	+0.67%

Volatility

VGRIX vs. TOWFX - Volatility Comparison

JPMorgan U.S. Value Fund (VGRIX) has a higher volatility of 2.44% compared to Towpath Focus Fund (TOWFX) at 2.26%. This indicates that VGRIX's price experiences larger fluctuations and is considered to be riskier than TOWFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VGRIX	TOWFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.44%	2.26%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	7.99%	6.60%	+1.39%
Volatility (1Y) Calculated over the trailing 1-year period	10.50%	8.97%	+1.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.40%	1,041.14%	-1,026.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.33%	920.03%	-902.70%

VGRIX vs. TOWFX - Expense Ratio Comparison

VGRIX has a 0.94% expense ratio, which is lower than TOWFX's 1.11% expense ratio.

Dividends

VGRIX vs. TOWFX - Dividend Comparison

VGRIX's dividend yield for the trailing twelve months is around 4.76%, more than TOWFX's 1.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TOWFX Towpath Focus Fund	1.72%	1.82%	1.49%	2.81%	2.05%	5.69%	5.94%	0.00%	0.00%	0.00%	0.00%	0.00%
VGRIX JPMorgan U.S. Value Fund	4.76%	5.20%	4.20%	1.39%	1.49%	2.74%	2.46%	3.43%	6.70%	5.30%	6.18%	7.23%

Frequently Asked Questions

Can I hold both VGRIX and TOWFX in my portfolio?

VGRIX and TOWFX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VGRIX or TOWFX?

VGRIX has higher volatility (2.44%) compared to TOWFX (2.26%). In terms of maximum drawdown, VGRIX dropped -58.30% vs TOWFX's -96.18%.

Which has better risk-adjusted returns?

TOWFX currently has the higher Sharpe Ratio (2.52 vs 2.19), 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.