JMOM vs SPY
JPMorgan US Momentum Factor ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, JMOM or SPY?
Nearly the same fund. SPY costs less.
SPY has a lower expense ratio. JMOM led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.95. JMOM is less concentrated, with 19.0% of the fund in its ten largest positions against 38.0%.
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 | JMOM | SPY |
|---|---|---|
| Expense Ratio | 0.12% | 0.09%Best |
| AUM | $2.6B | $804.7B |
| Dividend Yield | 0.74% | 0.98% |
| Holdings | 297 | 505 |
| YTD Return | +20.89%Best | +12.19% |
| 1Y Return | +25.26%Best | +18.53% |
| 3Y Return (annualized) | +25.94%Best | +20.88% |
| 5Y Return (annualized) | +13.60%Best | +12.69% |
| Volatility (annualized) | 17.5% | 16.3%Best |
| Max Drawdown | -34.3% | -34.1%Best |
| $10,000 over 5 years | $18,919Best | $18,173 |
| Top 10 Weight | 19.0%Best | 38.0% |
| Fund Family | J.P. Morgan Asset Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 8, 2017 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Nov 9, 2017 to Sep 9, 2026 (8.8 years).
JMOM 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 8.8 years both funds cover.
JMOM vs SPY Performance
JPMorgan US Momentum Factor ETF (JMOM) 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 JMOM returned +25.26% while SPY returned +18.53%. Year to date, JMOM is up 20.89% versus a gain of 12.19% for SPY.
Over three years, JMOM compounded at +25.94% per year against +20.88% for SPY; over five years the annualized figures are +13.60% and +12.69% respectively. Across the full 9-year window we track, JMOM has the edge at +15.29% annualized vs +14.00%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
JMOM has been the more volatile fund, with annualized monthly volatility of 17.5% compared with 16.3% 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 -34.3% for JMOM and -34.1% 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 0.95. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
JMOM charges 0.12% per year while SPY charges 0.09%. On a $10,000 position that is $12 vs $9 annually, a gap of $3 per year that compounds over a long holding period. On income, JMOM currently yields 0.74% against 0.98% for SPY.
Holdings Overlap
75.6% of JMOM's money is in holdings SPY also owns. 63.9% of SPY's money is in holdings JMOM also owns.
Most of JMOM is already inside SPY. Owning both mostly buys the same companies twice.
152 positions in common, counted across the 288 positions we hold weights for in JMOM and 504 in SPY, against full books of 297 and 505.
What only one of them owns
Our book lists 342 positions for SPY that do not appear in our book for JMOM (35.6% of the fund), and 122 for JMOM that do not appear in SPY (20.5%).
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.
Top Shared Holdings
| Stock | Weight in JMOM | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 2.17% | 7.71% | 5.54% |
| AAPLApple, Inc | 2.07% | 6.83% | 4.76% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 2.12% | 5.50% | 3.38% |
| GOOGLAlphabet A Usd 0.001 | 1.91% | 3.33% | 1.42% |
| AVGOBroadcom Inc | 1.96% | 2.97% | 1.01% |
| AMZNAmazon.Com Inc | 0.59% | 4.08% | 3.49% |
| METAMeta Platforms, Inc. | 1.57% | 1.94% | 0.37% |
| MUMicron Technology, Inc. | 1.97% | 1.51% | 0.46% |
| AMDAdvanced Micro Devices Inc. | 1.86% | 1.27% | 0.59% |
| JNJJohnson & Johnson | 1.93% | 0.92% | 1.01% |
75.6% of JMOM is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, JMOM or SPY?
JMOM has an expense ratio of 0.12% while SPY charges 0.09%. SPY is the cheaper option, by $3 a year on a $10,000 investment.
Which performed better, JMOM or SPY?
Over the past year JMOM returned +25.26% vs +18.53% for SPY, so JMOM leads on 1-year performance. Over the longest common window we track (9 years), JMOM annualized +15.29% vs +14.00% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, JMOM or SPY?
JMOM has been the more volatile fund at 17.5% annualized versus 16.3% for SPY. Worst drawdown: JMOM -34.3% vs SPY -34.1%.
Should I hold both JMOM and SPY?
JMOM and SPY have a monthly-return correlation of 0.95, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between JMOM and SPY?
75.6% of JMOM's money is in holdings SPY also owns. 63.9% of SPY's is in holdings JMOM also owns. They hold 152 positions in common, counted across the 288 positions we hold weights for in JMOM and 504 in SPY.
Which pays a higher dividend, JMOM or SPY?
JMOM yields 0.74% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than JMOM?
SPY has a lower expense ratio. JMOM led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.95. JMOM is less concentrated, with 19.0% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.