JVAL vs SPY
JPMorgan US Value Factor ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. JVAL delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | JVAL | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.12% | 0.09% | |
| AUM | $905M | $821.1B | |
| Dividend Yield | 1.65% | 1.01% | |
| Holdings | 399 | 505 | |
| YTD Return | +21.06% | +12.71% | |
| 1Y Return | +30.46% | +20.53% | |
| 3Y Return (annualized) | +21.13% | +21.60% | |
| 5Y Return (annualized) | +12.47% | +12.79% | |
| Volatility (annualized) | 18.2% | 15.3% | |
| Max Drawdown | -40.4% | -56.5% | |
| Fund Family | J.P. Morgan Asset Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Nov 8, 2017 | Jan 22, 1993 |
JVAL vs SPY Performance
JPMorgan US Value Factor ETF (JVAL) 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 JVAL returned +30.46% while SPY returned +20.53%. Year to date, JVAL is up 21.06% versus a gain of 12.71% for SPY.
Over three years, JVAL compounded at +21.13% per year against +21.60% for SPY; over five years the annualized figures are +12.47% and +12.79% respectively. Across the full 9-year window we track, JVAL has the edge at +11.96% annualized vs +8.80%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
JVAL has been the more volatile fund, with annualized monthly volatility of 18.2% 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 -40.4% for JVAL 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 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
JVAL charges 0.12% per year while SPY charges 0.09%. On a $10,000 position that is $12 vs $9 annually, a gap of $3 per year that compounds over a long holding period. On income, JVAL currently yields 1.65% against 1.01% for SPY.
Holdings Overlap
JVAL and SPY share 190 holdings out of 697 unique holdings combined, representing a 34.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, JVAL or SPY?
JVAL has an expense ratio of 0.12% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $3 per year of difference.
Which performed better, JVAL or SPY?
Over the past year JVAL returned +30.46% vs +20.53% for SPY, so JVAL leads on 1-year performance. Over the longest common window we track (9 years), JVAL annualized +11.96% vs +8.80% for SPY. Past performance does not guarantee future results.
Which is riskier, JVAL or SPY?
JVAL has been the more volatile fund at 18.2% annualized versus 15.3% for SPY. Worst drawdown: JVAL -40.4% vs SPY -56.5%.
Should I hold both JVAL and SPY?
JVAL and SPY have a monthly-return correlation of 0.94, 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 JVAL and SPY?
JVAL and SPY share 190 common holdings with a 34.4% weight overlap. Combined, they hold 697 unique securities.
Which pays a higher dividend, JVAL or SPY?
JVAL yields 1.65% while SPY yields 1.01%, so JVAL currently pays the higher dividend yield.
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