JPRE vs SPY
JPMorgan Realty Income ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, JPRE or SPY?
Small Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 62.9%.
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 | JPRE | SPY |
|---|---|---|
| Expense Ratio | 0.50% | 0.09%Best |
| AUM | $478M | $804.7B |
| Dividend Yield | 2.25% | 0.98% |
| Holdings | 40 | 505 |
| YTD Return | +9.73% | +13.82%Best |
| 1Y Return | +7.74% | +16.96%Best |
| 3Y Return (annualized) | +9.25% | +22.97%Best |
| 5Y Return (annualized) | - | +13.73% |
| Volatility (annualized) | 18.3% | 15.2%Best |
| Max Drawdown | -31.1% | -18.8%Best |
| $10,000 over 4.3 years | $10,217 | $20,539Best |
| Top 10 Weight | 62.9% | 37.8%Best |
| Fund Family | J.P. Morgan Asset Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Small Cap Blend | Large Cap Blend |
| Inception | May 20, 2022 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 4.3 years row, are measured over the window both funds cover: May 23, 2022 to Sep 21, 2026 (4.3 years).
JPRE 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 4.3 years both funds cover.
JPRE vs SPY Performance
JPMorgan Realty Income ETF (JPRE) 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 JPRE returned +7.74% while SPY returned +16.96%. Year to date, JPRE is up 9.73% versus a gain of 13.82% for SPY.
Over three years, JPRE compounded at +9.25% per year against +22.97% for SPY. Across the full 4-year window we track, SPY has the edge at +18.22% annualized vs +0.50%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
JPRE has been the more volatile fund, with annualized monthly volatility of 18.3% 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 -31.1% for JPRE and -18.8% 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 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
JPRE charges 0.50% per year while SPY charges 0.09%. On a $10,000 position that is $50 vs $9 annually, a gap of $41 per year that compounds over a long holding period. On income, JPRE currently yields 2.25% against 0.98% for SPY.
Holdings Overlap
83.1% of JPRE's money is in holdings SPY also owns. 1.5% of SPY's money is in holdings JPRE also owns.
Most of JPRE is already inside SPY. Owning both mostly buys the same companies twice.
22 positions in common, counted across the 38 positions we hold weights for in JPRE and 504 in SPY, against full books of 40 and 505.
What only one of them owns
Our book lists 475 positions for SPY that do not appear in our book for JPRE (97.8% of the fund), and 15 for JPRE that do not appear in SPY (16.1%).
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 JPRE | Weight in SPY | Difference |
|---|---|---|---|
| WELLWelltower, Inc. | 12.76% | 0.26% | 12.50% |
| PLDPrologis Inc | 10.16% | 0.20% | 9.96% |
| EQIXEquinix Inc. Real Estate Investment Trust | 8.73% | 0.15% | 8.58% |
| DLRDigital Realty Trust Inc. | 6.90% | 0.10% | 6.80% |
| AMTAmerican Tower Corporation | 5.73% | 0.12% | 5.61% |
| VTRVentas Inc . | 5.28% | 0.07% | 5.21% |
| SPGSimon Property Group Inc | 3.81% | 0.10% | 3.71% |
| EXRExtra Space Storage Inc. | 3.33% | 0.05% | 3.28% |
| CCICrown Castle International Corp | 3.18% | 0.05% | 3.13% |
| INVHInvitation Homes Inc. Reit | 3.06% | 0.02% | 3.04% |
83.1% of JPRE 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, JPRE or SPY?
JPRE has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option, by $41 a year on a $10,000 investment.
Which performed better, JPRE or SPY?
Over the past year JPRE returned +7.74% vs +16.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), JPRE annualized +0.50% vs +18.22% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, JPRE or SPY?
JPRE has been the more volatile fund at 18.3% annualized versus 15.2% for SPY. Worst drawdown: JPRE -31.1% vs SPY -18.8%.
Should I hold both JPRE and SPY?
JPRE and SPY have a monthly-return correlation of 0.77, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between JPRE and SPY?
83.1% of JPRE's money is in holdings SPY also owns. 1.5% of SPY's is in holdings JPRE also owns. They hold 22 positions in common, counted across the 38 positions we hold weights for in JPRE and 504 in SPY.
Which pays a higher dividend, JPRE or SPY?
JPRE yields 2.25% while SPY yields 0.98%, so JPRE currently pays the higher dividend yield.
Is SPY better than JPRE?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 62.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.