JMEE vs SPY
JPMorgan Small & Mid Cap Enhanced Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, JMEE or SPY?
Each has led over a different period.
SPY has a lower expense ratio. JMEE led over 1Y, SPY over 3Y and the full window. JMEE is less concentrated, with 9.6% of the fund in its ten largest positions against 37.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | JMEE | SPY |
|---|---|---|
| Expense Ratio | 0.24% | 0.09%Best |
| AUM | $2.9B | $804.7B |
| Dividend Yield | 0.95% | 0.98% |
| Holdings | 655 | 505 |
| YTD Return | +14.36%Best | +11.45% |
| 1Y Return | +18.84%Best | +15.87% |
| 3Y Return (annualized) | +15.94% | +20.93%Best |
| 5Y Return (annualized) | - | +12.59% |
| Volatility (annualized) | 18.9% | 15.3%Best |
| Max Drawdown | -25.4% | -18.8%Best |
| $10,000 over 4.4 years | $17,075 | $20,309Best |
| Top 10 Weight | 9.6%Best | 37.8% |
| Fund Family | J.P. Morgan Asset Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | May 6, 2022 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 4.4 years row, are measured over the window both funds cover: May 9, 2022 to Sep 15, 2026 (4.4 years).
JMEE vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 4.4 years both funds cover.
JMEE vs SPY Performance
JPMorgan Small & Mid Cap Enhanced Equity ETF (JMEE) is an ETF from J.P. Morgan Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year JMEE returned +18.84% while SPY returned +15.87%. Year to date, JMEE is up 14.36% versus a gain of 11.45% for SPY.
Over three years, JMEE compounded at +15.94% per year against +20.93% for SPY. Across the full 4-year window we track, SPY has the edge at +17.47% annualized vs +12.93%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
JMEE has been the more volatile fund, with annualized monthly volatility of 18.9% compared with 15.3% for SPY. 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 -25.4% for JMEE and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
JMEE 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, JMEE currently yields 0.95% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 646 holdings in JMEE and 504 in SPY, totalling 98.0% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 646 positions we hold weights for in JMEE and 504 in SPY, against full books of 655 and 505.
What only one of them owns
Our book lists 497 positions for SPY that do not appear in our book for JMEE (99.3% of the fund), and 621 for JMEE that do not appear in SPY (93.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of JMEE and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, JMEE or SPY?
JMEE has an expense ratio of 0.24% while SPY charges 0.09%. SPY is the cheaper option, by $15 a year on a $10,000 investment.
Which performed better, JMEE or SPY?
Over the past year JMEE returned +18.84% vs +15.87% for SPY, so JMEE leads on 1-year performance. Over the longest common window we track (4 years), JMEE annualized +12.93% vs +17.47% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, JMEE or SPY?
JMEE has been the more volatile fund at 18.9% annualized versus 15.3% for SPY. Worst drawdown: JMEE -25.4% vs SPY -18.8%.
Should I hold both JMEE and SPY?
JMEE and SPY have a monthly-return correlation of 0.85, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, JMEE or SPY?
JMEE yields 0.95% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than JMEE?
SPY has a lower expense ratio. JMEE led over 1Y, SPY over 3Y and the full window. JMEE is less concentrated, with 9.6% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.