JPEM vs SPY
JPMorgan Diversified Return Emerging Markets 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. JPEM offers more diversification with 517 holdings.
Side-by-Side Comparison
| Metric | JPEM | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.44% | 0.09% | |
| AUM | $385M | $789.1B | |
| Dividend Yield | 4.71% | 1.01% | |
| Holdings | 574 | 505 | |
| YTD Return | +8.51% | +13.39% | |
| 1Y Return | +19.09% | +22.52% | |
| 3Y Return (annualized) | +13.78% | +21.36% | |
| 5Y Return (annualized) | +6.92% | +13.19% | |
| Volatility (annualized) | 15.1% | 15.3% | |
| Max Drawdown | -43.8% | -56.5% | |
| Fund Family | J.P. Morgan Asset Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jan 7, 2015 | Jan 22, 1993 |
JPEM vs SPY Performance
JPMorgan Diversified Return Emerging Markets Equity ETF (JPEM) 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 JPEM returned +19.09% while SPY returned +22.52%. Year to date, JPEM is up 8.51% versus a gain of 13.39% for SPY.
Over three years, JPEM compounded at +13.78% per year against +21.36% for SPY; over five years the annualized figures are +6.92% and +13.19% respectively. Across the full 12-year window we track, SPY has the edge at +8.84% annualized vs +4.36%. 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 15.1% for JPEM. 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 -43.8% for JPEM 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 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
JPEM 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, JPEM currently yields 4.71% against 1.01% for SPY.
Holdings Overlap
JPEM and SPY share 0 holdings out of 1020 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, JPEM or SPY?
JPEM 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, JPEM or SPY?
Over the past year JPEM returned +19.09% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (12 years), JPEM annualized +4.36% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, JPEM or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 15.1% for JPEM. Worst drawdown: JPEM -43.8% vs SPY -56.5%.
Should I hold both JPEM and SPY?
JPEM and SPY have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between JPEM and SPY?
JPEM and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 1020 unique securities.
Which pays a higher dividend, JPEM or SPY?
JPEM yields 4.71% while SPY yields 1.01%, so JPEM currently pays the higher dividend yield.
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