VIMAX vs. JMGIX

Last updated Jun 4, 2026

VIMAX (Vanguard Mid-Cap Index Fund Admiral Shares) and JMGIX (JPMorgan Managed Income Fund) are both mutual funds - VIMAX is a Mid Cap Blend Equities fund managed by Vanguard, while JMGIX is a Ultrashort Bond fund managed by BlackRock. Over the past 10 years, VIMAX returned 11.58%/yr vs 2.46%/yr for JMGIX. At a 0.02 correlation, their price movements are largely independent. VIMAX charges 0.05%/yr vs 0.25%/yr for JMGIX.

Performance

VIMAX vs. JMGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Mid-Cap Index Fund Admiral Shares (VIMAX) and JPMorgan Managed Income Fund (JMGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VIMAX achieves a 10.54% return, which is significantly higher than JMGIX's 1.37% return. Over the past 10 years, VIMAX has outperformed JMGIX with an annualized return of 11.58%, while JMGIX has yielded a comparatively lower 2.46% annualized return.

VIMAX

• 1D: 0.90%
• 1M: 3.68%
• YTD: 10.54%
• 6M: 10.20%
• 1Y: 18.73%
• 3Y*: 16.82%
• 5Y*: 8.10%
• 10Y*: 11.58%

JMGIX

• 1D: 0.00%
• 1M: 0.34%
• YTD: 1.37%
• 6M: 1.72%
• 1Y: 4.23%
• 3Y*: 4.90%
• 5Y*: 3.35%
• 10Y*: 2.46%

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

VIMAX vs. JMGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIMAX Vanguard Mid-Cap Index Fund Admiral Shares	10.54%	11.67%	14.66%	16.53%	-18.70%	24.51%	18.18%	31.03%	-9.24%	19.26%
JMGIX JPMorgan Managed Income Fund	1.37%	4.87%	5.36%	4.18%	1.13%	0.05%	1.32%	3.02%	2.07%	1.30%

Correlation

The correlation between VIMAX and JMGIX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.03
Correlation (10Y) Calculated over the trailing 10-year period	0.01
Correlation (All Time) Calculated using the full available price history since Jan 4, 2012	0.02

The correlation between VIMAX and JMGIX shifts across timeframes, from 0.01 (10 years) to 0.19 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

VIMAX vs. JMGIX — Risk / Return Rank

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

VIMAX

VIMAX Risk / Return Rank: 35
VIMAX Sharpe Ratio Rank: 32
VIMAX Sortino Ratio Rank: 31
VIMAX Omega Ratio Rank: 29
VIMAX Calmar Ratio Rank: 41
VIMAX Martin Ratio Rank: 44

JMGIX

JMGIX Risk / Return Rank: 97
JMGIX Sharpe Ratio Rank: 92
JMGIX Sortino Ratio Rank: 99
JMGIX Omega Ratio Rank: 98
JMGIX Calmar Ratio Rank: 99
JMGIX Martin Ratio Rank: 99

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.

VIMAX vs. JMGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap Index Fund Admiral Shares (VIMAX) and JPMorgan Managed Income Fund (JMGIX). 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.

	VIMAX	JMGIX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	3.08	-1.46
Sortino ratio: Return per unit of downside risk	2.31	7.90	-5.59
Omega ratio: Gain probability vs. loss probability	1.28	2.49	-1.21
Calmar ratio: Return relative to maximum drawdown	2.44	10.68	-8.24
Martin ratio: Return relative to average drawdown	9.28	49.62	-40.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VIMAX vs. JMGIX - Sharpe Ratio Comparison

The current VIMAX Sharpe Ratio is 1.61, which is lower than the JMGIX Sharpe Ratio of 3.08. The chart below compares the historical Sharpe Ratios of VIMAX and JMGIX, 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

	VIMAX	JMGIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.61	3.08	-1.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	2.62	-2.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	2.33	-1.71
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	2.00	-1.49

Drawdowns

VIMAX vs. JMGIX - Drawdown Comparison

The maximum VIMAX drawdown since its inception was -58.88%, which is greater than JMGIX's maximum drawdown of -2.18%. Use the drawdown chart below to compare losses from any high point for VIMAX and JMGIX.

Drawdown Indicators

	VIMAX	JMGIX	Difference
Max Drawdown Largest peak-to-trough decline	-58.88%	-2.18%	-56.70%
Max Drawdown (1Y) Largest decline over 1 year	-8.13%	-0.40%	-7.73%
Max Drawdown (3Y) Largest decline over 3 years	-18.93%	-0.40%	-18.53%
Max Drawdown (5Y) Largest decline over 5 years	-27.55%	-0.70%	-26.85%
Max Drawdown (10Y) Largest decline over 10 years	-39.30%	-2.18%	-37.12%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.12%	-0.07%	-8.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	0.09%	+2.05%

Volatility

VIMAX vs. JMGIX - Volatility Comparison

Vanguard Mid-Cap Index Fund Admiral Shares (VIMAX) has a higher volatility of 2.97% compared to JPMorgan Managed Income Fund (JMGIX) at 0.39%. This indicates that VIMAX's price experiences larger fluctuations and is considered to be riskier than JMGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIMAX	JMGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.97%	0.39%	+2.58%
Volatility (6M) Calculated over the trailing 6-month period	9.28%	0.98%	+8.30%
Volatility (1Y) Calculated over the trailing 1-year period	12.30%	1.38%	+10.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.63%	1.29%	+16.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.92%	1.06%	+17.86%

VIMAX vs. JMGIX - Expense Ratio Comparison

VIMAX has a 0.05% expense ratio, which is lower than JMGIX's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VIMAX vs. JMGIX - Dividend Comparison

VIMAX's dividend yield for the trailing twelve months is around 1.34%, less than JMGIX's 4.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JMGIX JPMorgan Managed Income Fund	4.14%	4.34%	5.11%	3.77%	1.32%	0.45%	1.31%	2.58%	2.15%	1.39%	0.11%	0.01%
VIMAX Vanguard Mid-Cap Index Fund Admiral Shares	1.34%	1.51%	1.48%	1.50%	1.59%	1.11%	1.44%	1.47%	1.82%	1.35%	1.45%	1.47%

Frequently Asked Questions

Can I hold both VIMAX and JMGIX in my portfolio?

VIMAX and JMGIX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VIMAX or JMGIX?

VIMAX has higher volatility (2.97%) compared to JMGIX (0.39%). In terms of maximum drawdown, VIMAX dropped -58.88% vs JMGIX's -2.18%.

Which has better risk-adjusted returns?

JMGIX currently has the higher Sharpe Ratio (3.08 vs 1.61), 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.