WBD vs. JAVA

Last updated Jun 4, 2026

WBD (Warner Bros. Discovery, Inc.) is a stock, while JAVA (JPMorgan Active Value ETF) is Large Cap Value Equities fund actively managed by JPMorgan. Over the past 3 years, WBD returned 31.96%/yr vs 16.35%/yr for JAVA. At a 0.46 correlation, their price movements are largely independent.

Performance

WBD vs. JAVA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Warner Bros. Discovery, Inc. (WBD) and JPMorgan Active Value ETF (JAVA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WBD achieves a -6.32% return, which is significantly lower than JAVA's 8.50% return.

WBD

• 1D: -0.66%
• 1M: 0.15%
• YTD: -6.32%
• 6M: 9.89%
• 1Y: 171.63%
• 3Y*: 31.96%
• 5Y*: -3.07%
• 10Y*: -0.50%

JAVA

• 1D: -0.21%
• 1M: 2.70%
• YTD: 8.50%
• 6M: 9.14%
• 1Y: 23.95%
• 3Y*: 16.35%
• 5Y*: —
• 10Y*: —

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

WBD vs. JAVA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
WBD Warner Bros. Discovery, Inc.	-6.32%	172.66%	-7.12%	20.04%	-59.73%	-9.98%
JAVA JPMorgan Active Value ETF	8.50%	14.92%	15.52%	10.46%	-0.88%	5.23%

Correlation

The correlation between WBD and JAVA is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (All Time) Calculated using the full available price history since Oct 6, 2021	0.46

Over the past year, the correlation between WBD and JAVA has dropped to 0.22 - well below their long-term average of 0.46, suggesting their price drivers have been diverging.

Return for Risk

WBD vs. JAVA — Risk / Return Rank

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

WBD

WBD Risk / Return Rank: 97
WBD Sharpe Ratio Rank: 96
WBD Sortino Ratio Rank: 98
WBD Omega Ratio Rank: 98
WBD Calmar Ratio Rank: 96
WBD Martin Ratio Rank: 96

JAVA

JAVA Risk / Return Rank: 62
JAVA Sharpe Ratio Rank: 64
JAVA Sortino Ratio Rank: 66
JAVA Omega Ratio Rank: 62
JAVA Calmar Ratio Rank: 58
JAVA Martin Ratio Rank: 60

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.

WBD vs. JAVA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Warner Bros. Discovery, Inc. (WBD) and JPMorgan Active Value ETF (JAVA). 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.

	WBD	JAVA	Difference
Sharpe ratio: Return per unit of total volatility	3.65	2.15	+1.50
Sortino ratio: Return per unit of downside risk	5.54	3.07	+2.47
Omega ratio: Gain probability vs. loss probability	1.75	1.38	+0.37
Calmar ratio: Return relative to maximum drawdown	8.10	2.90	+5.20
Martin ratio: Return relative to average drawdown	23.77	10.71	+13.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WBD vs. JAVA - Sharpe Ratio Comparison

The current WBD Sharpe Ratio is 3.65, which is higher than the JAVA Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of WBD and JAVA, 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

	WBD	JAVA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.65	2.15	+1.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.06	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.01	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.78	-0.62

Drawdowns

WBD vs. JAVA - Drawdown Comparison

The maximum WBD drawdown since its inception was -91.32%, which is greater than JAVA's maximum drawdown of -16.54%. Use the drawdown chart below to compare losses from any high point for WBD and JAVA.

Drawdown Indicators

	WBD	JAVA	Difference
Max Drawdown Largest peak-to-trough decline	-91.32%	-16.54%	-74.78%
Max Drawdown (1Y) Largest decline over 1 year	-21.31%	-8.29%	-13.02%
Max Drawdown (3Y) Largest decline over 3 years	-53.63%	-16.54%	-37.09%
Max Drawdown (5Y) Largest decline over 5 years	-78.73%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-91.32%	—	—
Current Drawdown Current decline from peak	-65.06%	-0.21%	-64.85%
Average Drawdown Average peak-to-trough decline	-37.10%	-3.63%	-33.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.26%	2.24%	+5.02%

Volatility

WBD vs. JAVA - Volatility Comparison

Warner Bros. Discovery, Inc. (WBD) and JPMorgan Active Value ETF (JAVA) have volatilities of 2.64% and 2.60%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WBD	JAVA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.64%	2.60%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	14.53%	8.40%	+6.13%
Volatility (1Y) Calculated over the trailing 1-year period	47.31%	11.19%	+36.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.75%	14.80%	+37.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.18%	14.80%	+32.38%

Dividends

WBD vs. JAVA - Dividend Comparison

WBD has not paid dividends to shareholders, while JAVA's dividend yield for the trailing twelve months is around 1.25%.

Position	TTM	2025	2024	2023	2022	2021
JAVA JPMorgan Active Value ETF	1.25%	1.34%	1.45%	1.65%	1.25%	0.48%
WBD Warner Bros. Discovery, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WBD and JAVA in my portfolio?

WBD and JAVA have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WBD or JAVA?

WBD has higher volatility (2.64%) compared to JAVA (2.60%). In terms of maximum drawdown, WBD dropped -91.32% vs JAVA's -16.54%.

Which has better risk-adjusted returns?

WBD currently has the higher Sharpe Ratio (3.65 vs 2.15), 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.