JPME vs SPY
JPMorgan Diversified Return US Mid Cap Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, JPME or SPY?
Mid Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.90. JPME is less concentrated, with 4.9% 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 | JPME | SPY |
|---|---|---|
| Expense Ratio | 0.24% | 0.09%Best |
| AUM | $475M | $804.7B |
| Dividend Yield | 1.74% | 0.98% |
| Holdings | 353 | 505 |
| YTD Return | +14.75%Best | +12.19% |
| 1Y Return | +17.45% | +18.53%Best |
| 3Y Return (annualized) | +15.19% | +20.88%Best |
| 5Y Return (annualized) | +8.69% | +12.69%Best |
| Volatility (annualized) | 16.4% | 15.2%Best |
| Max Drawdown | -41.0% | -34.1%Best |
| $10,000 over 5 years | $15,169 | $18,173Best |
| Top 10 Weight | 4.9%Best | 38.0% |
| Fund Family | J.P. Morgan Asset Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Large Cap Blend |
| Inception | May 11, 2016 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: May 18, 2016 to Sep 9, 2026 (10.3 years).
JPME 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 10.3 years both funds cover.
JPME vs SPY Performance
JPMorgan Diversified Return US Mid Cap Equity ETF (JPME) 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 JPME returned +17.45% while SPY returned +18.53%. Year to date, JPME is up 14.75% versus a gain of 12.19% for SPY.
Over three years, JPME compounded at +15.19% per year against +20.88% for SPY; over five years the annualized figures are +8.69% and +12.69% respectively. Across the full 10-year window we track, SPY has the edge at +14.41% annualized vs +10.45%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
JPME has been the more volatile fund, with annualized monthly volatility of 16.4% compared with 15.2% 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 -41.0% for JPME 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 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
JPME 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, JPME currently yields 1.74% against 0.98% for SPY.
Holdings Overlap
48.1% of JPME's money is in holdings SPY also owns. 6.9% of SPY's money is in holdings JPME also owns.
The two portfolios partly overlap.
159 positions in common, counted across the 345 positions we hold weights for in JPME and 504 in SPY, against full books of 353 and 505.
What only one of them owns
Our book lists 339 positions for SPY that do not appear in our book for JPME (92.6% of the fund), and 175 for JPME that do not appear in SPY (48.3%).
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 JPME | Weight in SPY | Difference |
|---|---|---|---|
| EQREquity Residential (eqr) | 0.53% | 0.03% | 0.50% |
| HPEHewlett Packard Enterprise Co | 0.44% | 0.10% | 0.34% |
| CTVACorteva Inc Ctva | 0.44% | 0.08% | 0.36% |
| DVNDevon Energy Corporation | 0.43% | 0.08% | 0.35% |
| LITELumentum Holdings Inc | 0.41% | 0.10% | 0.31% |
| SPGSimon Property Group Inc | 0.40% | 0.11% | 0.29% |
| LHLabcorp Holdings Inc | 0.46% | 0.04% | 0.42% |
| NTAPNetapp Inc | 0.44% | 0.06% | 0.38% |
| GRMNGarminltd. | 0.42% | 0.08% | 0.34% |
| AMEAmetek Inc | 0.41% | 0.09% | 0.32% |
48.1% of JPME 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.
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Frequently Asked Questions
Which is cheaper, JPME or SPY?
JPME 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, JPME or SPY?
Over the past year JPME returned +17.45% vs +18.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (10 years), JPME annualized +10.45% vs +14.41% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, JPME or SPY?
JPME has been the more volatile fund at 16.4% annualized versus 15.2% for SPY. Worst drawdown: JPME -41.0% vs SPY -34.1%.
Should I hold both JPME and SPY?
JPME and SPY have a monthly-return correlation of 0.90, 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 JPME and SPY?
48.1% of JPME's money is in holdings SPY also owns. 6.9% of SPY's is in holdings JPME also owns. They hold 159 positions in common, counted across the 345 positions we hold weights for in JPME and 504 in SPY.
Which pays a higher dividend, JPME or SPY?
JPME yields 1.74% while SPY yields 0.98%, so JPME currently pays the higher dividend yield.
Is SPY better than JPME?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.90. JPME is less concentrated, with 4.9% 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.