JCPB vs SPY
JPMorgan Core Plus Bond ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. JCPB offers more diversification with 1708 holdings.
Side-by-Side Comparison
| Metric | JCPB | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.38% | 0.09% | |
| AUM | $14.0B | $789.1B | |
| Dividend Yield | 4.94% | 1.01% | |
| Holdings | 2,596 | 505 | |
| YTD Return | +0.24% | +14.47% | |
| 1Y Return | +2.77% | +21.96% | |
| 3Y Return (annualized) | +5.46% | +21.70% | |
| 5Y Return (annualized) | +0.78% | +13.30% | |
| Volatility (annualized) | 5.5% | 15.3% | |
| Max Drawdown | -17.7% | -56.5% | |
| Fund Family | J.P. Morgan Asset Management | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Jan 28, 2019 | Jan 22, 1993 |
JCPB vs SPY Performance
JPMorgan Core Plus Bond ETF (JCPB) is a ETF from J.P. Morgan Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year JCPB returned +2.77% while SPY returned +21.96%. Year to date, JCPB is up 0.24% versus a gain of 14.47% for SPY.
Over three years, JCPB compounded at +5.46% per year against +21.70% for SPY; over five years the annualized figures are +0.78% and +13.30% respectively. Across the full 8-year window we track, SPY has the edge at +8.87% annualized vs +1.80%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 5.5% for JCPB. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -17.7% for JCPB and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.46. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
JCPB charges 0.38% per year while SPY charges 0.09%. On a $10,000 position that is $38 vs $9 annually, a gap of $29 per year that compounds over a long holding period. On income, JCPB currently yields 4.94% against 1.01% for SPY.
Holdings Overlap
JCPB and SPY share 1 holdings out of 2210 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in JCPB | Weight in SPY | Difference |
|---|---|---|---|
| AON | 0.00% | 0.12% | 0.12% |
Frequently Asked Questions
Which is cheaper, JCPB or SPY?
JCPB has an expense ratio of 0.38% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $29 per year of difference.
Which performed better, JCPB or SPY?
Over the past year JCPB returned +2.77% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (8 years), JCPB annualized +1.80% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, JCPB or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 5.5% for JCPB. Worst drawdown: JCPB -17.7% vs SPY -56.5%.
Should I hold both JCPB and SPY?
JCPB and SPY have a monthly-return correlation of 0.46, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between JCPB and SPY?
JCPB and SPY share 1 common holdings with a 0.0% weight overlap. Combined, they hold 2210 unique securities.
Which pays a higher dividend, JCPB or SPY?
JCPB yields 4.94% while SPY yields 1.01%, so JCPB currently pays the higher dividend yield.
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