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  "authorName": "J.P. Morgan Asset Management",
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  "notes": "The chart highlights consistent outperformance, with an average of 5.2%.",
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      "text": "Equity Incomes rolling 1-year returns in periods where the Russell 1000 Value is down 10% or more",
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      "text": "Source: J.P. Morgan Asset Management. Since PM inception Date: 12/31/2004. Net of fees. As of 9/30/2025. Data reflects rolling 1 year returns for Equity Income (HLIEX) and the Russell 1000 Value. Past performance is not a reliable indicator of current and future results. See Glossary for index of investment terms.",
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      "text": "Equity Income outperformed ALL drawdowns of 10% or more",
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