JFLI vs SPY
JPMorgan Flexible Income ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. JFLI offers more diversification with 587 holdings.
Side-by-Side Comparison
| Metric | JFLI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.35% | 0.09% | |
| AUM | $49M | $821.1B | |
| Dividend Yield | 7.34% | 1.01% | |
| Holdings | 587 | 505 | |
| YTD Return | +11.08% | +13.17% | |
| 1Y Return | +17.95% | +21.53% | |
| 3Y Return (annualized) | - | +22.06% | |
| 5Y Return (annualized) | - | +13.35% | |
| Volatility (annualized) | 8.6% | 15.3% | |
| Max Drawdown | -12.9% | -56.5% | |
| Fund Family | J.P. Morgan Asset Management | State Street Investment Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | Feb 12, 2025 | Jan 22, 1993 |
JFLI vs SPY Performance
JPMorgan Flexible Income ETF (JFLI) 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 JFLI returned +17.95% while SPY returned +21.53%. Year to date, JFLI is up 11.08% versus a gain of 13.17% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 8.6% for JFLI. 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 -12.9% for JFLI 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 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
JFLI charges 0.35% per year while SPY charges 0.09%. On a $10,000 position that is $35 vs $9 annually, a gap of $26 per year that compounds over a long holding period. On income, JFLI currently yields 7.34% against 1.01% for SPY.
Holdings Overlap
JFLI and SPY share 164 holdings out of 835 unique holdings combined, representing a 14.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, JFLI or SPY?
JFLI has an expense ratio of 0.35% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $26 per year of difference.
Which performed better, JFLI or SPY?
Over the past year JFLI returned +17.95% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), JFLI annualized +14.52% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, JFLI or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 8.6% for JFLI. Worst drawdown: JFLI -12.9% vs SPY -56.5%.
Should I hold both JFLI and SPY?
JFLI and SPY have a monthly-return correlation of 0.91, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between JFLI and SPY?
JFLI and SPY share 164 common holdings with a 14.6% weight overlap. Combined, they hold 835 unique securities.
Which pays a higher dividend, JFLI or SPY?
JFLI yields 7.34% while SPY yields 1.01%, so JFLI currently pays the higher dividend yield.
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