JMMF vs SPY
JPMorgan 100% US Treasury Securities Money Market ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | JMMF | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.16% | 0.09% | |
| AUM | $71M | $821.1B | |
| Dividend Yield | 2.21% | 1.01% | |
| Holdings | 52 | 505 | |
| YTD Return | +2.18% | +14.24% | |
| 1Y Return | - | +21.71% | |
| 3Y Return (annualized) | - | +22.10% | |
| 5Y Return (annualized) | - | +13.21% | |
| Volatility (annualized) | - | 15.3% | |
| Max Drawdown | -0.3% | -56.5% | |
| Fund Family | J.P. Morgan Asset Management | State Street Investment Management | |
| Category | Money Market | Equity | |
| Inception | Dec 10, 2025 | Jan 22, 1993 |
JMMF vs SPY Performance
JPMorgan 100% US Treasury Securities Money Market ETF (JMMF) 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. Year to date, JMMF is up 2.18% versus a gain of 14.24% for SPY.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -0.3% for JMMF and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
JMMF charges 0.16% per year while SPY charges 0.09%. On a $10,000 position that is $16 vs $9 annually, a gap of $7 per year that compounds over a long holding period. On income, JMMF currently yields 2.21% against 1.01% for SPY.
Holdings Overlap
JMMF and SPY share 0 holdings out of 522 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, JMMF or SPY?
JMMF has an expense ratio of 0.16% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $7 per year of difference.
What is the holdings overlap between JMMF and SPY?
JMMF and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 522 unique securities.
Which pays a higher dividend, JMMF or SPY?
JMMF yields 2.21% while SPY yields 1.01%, so JMMF currently pays the higher dividend yield.
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