JPEF vs SPY
JPMorgan Equity Focus 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 | JPEF | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.44% | 0.09% | |
| AUM | $2.1B | $821.1B | |
| Dividend Yield | 0.65% | 1.01% | |
| Holdings | 42 | 505 | |
| YTD Return | +9.71% | +13.17% | |
| 1Y Return | +14.85% | +21.53% | |
| 3Y Return (annualized) | +20.05% | +22.06% | |
| 5Y Return (annualized) | - | +13.35% | |
| Volatility (annualized) | 12.6% | 15.3% | |
| Max Drawdown | -18.1% | -56.5% | |
| Fund Family | J.P. Morgan Asset Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Mar 10, 2023 | Jan 22, 1993 |
JPEF vs SPY Performance
JPMorgan Equity Focus ETF (JPEF) 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 JPEF returned +14.85% while SPY returned +21.53%. Year to date, JPEF is up 9.71% versus a gain of 13.17% for SPY.
Over three years, JPEF compounded at +20.05% per year against +22.06% for SPY. Across the full 3-year window we track, JPEF has the edge at +18.13% annualized vs +8.82%. 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 12.6% for JPEF. 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 -18.1% for JPEF 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 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
JPEF charges 0.44% per year while SPY charges 0.09%. On a $10,000 position that is $44 vs $9 annually, a gap of $35 per year that compounds over a long holding period. On income, JPEF currently yields 0.65% against 1.01% for SPY.
Holdings Overlap
JPEF and SPY share 36 holdings out of 509 unique holdings combined, representing a 40.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, JPEF or SPY?
JPEF has an expense ratio of 0.44% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $35 per year of difference.
Which performed better, JPEF or SPY?
Over the past year JPEF returned +14.85% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), JPEF annualized +18.13% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, JPEF or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 12.6% for JPEF. Worst drawdown: JPEF -18.1% vs SPY -56.5%.
Should I hold both JPEF and SPY?
JPEF and SPY have a monthly-return correlation of 0.98, 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 JPEF and SPY?
JPEF and SPY share 36 common holdings with a 40.7% weight overlap. Combined, they hold 509 unique securities.
Which pays a higher dividend, JPEF or SPY?
JPEF yields 0.65% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.