JIRE vs SPY
JPMorgan International Research Enhanced Equity ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | JIRE | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.24% | 0.09% | |
| AUM | $11.4B | $821.1B | |
| Dividend Yield | 2.68% | 1.01% | |
| Holdings | 222 | 505 | |
| YTD Return | +11.56% | +12.22% | |
| 1Y Return | +19.43% | +20.83% | |
| 3Y Return (annualized) | +18.61% | +21.70% | |
| 5Y Return (annualized) | - | +12.98% | |
| Volatility (annualized) | 15.2% | 15.3% | |
| Max Drawdown | -16.1% | -56.5% | |
| Fund Family | J.P. Morgan Asset Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 10, 2022 | Jan 22, 1993 |
JIRE vs SPY Performance
JPMorgan International Research Enhanced Equity ETF (JIRE) 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 JIRE returned +19.43% while SPY returned +20.83%. Year to date, JIRE is up 11.56% versus a gain of 12.22% for SPY.
Over three years, JIRE compounded at +18.61% per year against +21.70% for SPY. Across the full 4-year window we track, JIRE has the edge at +17.29% annualized vs +8.79%. 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 15.2% for JIRE. 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 -16.1% for JIRE 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 0.75. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
JIRE charges 0.24% per year while SPY charges 0.09%. On a $10,000 position that is $24 vs $9 annually, a gap of $15 per year that compounds over a long holding period. On income, JIRE currently yields 2.68% against 1.01% for SPY.
Holdings Overlap
JIRE and SPY share 0 holdings out of 704 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, JIRE or SPY?
JIRE has an expense ratio of 0.24% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $15 per year of difference.
Which performed better, JIRE or SPY?
Over the past year JIRE returned +19.43% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), JIRE annualized +17.29% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, JIRE or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 15.2% for JIRE. Worst drawdown: JIRE -16.1% vs SPY -56.5%.
Should I hold both JIRE and SPY?
JIRE and SPY have a monthly-return correlation of 0.75, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between JIRE and SPY?
JIRE and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 704 unique securities.
Which pays a higher dividend, JIRE or SPY?
JIRE yields 2.68% while SPY yields 1.01%, so JIRE currently pays the higher dividend yield.
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