JPSV vs SPY
JPMorgan Active Small Cap Value ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. JPSV delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | JPSV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.55% | 0.09% | |
| AUM | $28M | $789.1B | |
| Dividend Yield | 1.25% | 1.01% | |
| Holdings | 111 | 505 | |
| YTD Return | +23.95% | +14.47% | |
| 1Y Return | +23.55% | +21.96% | |
| 3Y Return (annualized) | +13.52% | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 16.1% | 15.3% | |
| Max Drawdown | -22.8% | -56.5% | |
| Fund Family | J.P. Morgan Asset Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Mar 7, 2023 | Jan 22, 1993 |
JPSV vs SPY Performance
JPMorgan Active Small Cap Value ETF (JPSV) 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 JPSV returned +23.55% while SPY returned +21.96%. Year to date, JPSV is up 23.95% versus a gain of 14.47% for SPY.
Over three years, JPSV compounded at +13.52% per year against +21.70% for SPY. Across the full 3-year window we track, JPSV has the edge at +12.26% annualized vs +8.87%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
JPSV has been the more volatile fund, with annualized monthly volatility of 16.1% compared with 15.3% 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 -22.8% for JPSV 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 0.65. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
JPSV charges 0.55% per year while SPY charges 0.09%. On a $10,000 position that is $55 vs $9 annually, a gap of $46 per year that compounds over a long holding period. On income, JPSV currently yields 1.25% against 1.01% for SPY.
Holdings Overlap
JPSV and SPY share 0 holdings out of 613 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, JPSV or SPY?
JPSV has an expense ratio of 0.55% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $46 per year of difference.
Which performed better, JPSV or SPY?
Over the past year JPSV returned +23.55% vs +21.96% for SPY, so JPSV leads on 1-year performance. Over the longest common window we track (3 years), JPSV annualized +12.26% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, JPSV or SPY?
JPSV has been the more volatile fund at 16.1% annualized versus 15.3% for SPY. Worst drawdown: JPSV -22.8% vs SPY -56.5%.
Should I hold both JPSV and SPY?
JPSV and SPY have a monthly-return correlation of 0.65, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between JPSV and SPY?
JPSV and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 613 unique securities.
Which pays a higher dividend, JPSV or SPY?
JPSV yields 1.25% while SPY yields 1.01%, so JPSV currently pays the higher dividend yield.
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