BBMC vs. ESML

Last updated Jun 4, 2026

BBMC (JPMorgan BetaBuilders U.S. Mid Cap Equity ETF) and ESML (iShares ESG Aware MSCI USA Small-Cap ETF) are both Small Cap Growth Equities funds - BBMC tracks the Morningstar US Mid Cap Target Market Exposure Extended Index while ESML tracks the MSCI USA Small Cap Extended ESG Focus Index. Both are passively managed. Over the past 5 years, BBMC returned 8.32%/yr vs 7.18%/yr for ESML. With a 0.98 correlation, they move nearly in lockstep. BBMC charges 0.07%/yr vs 0.17%/yr for ESML.

Performance

BBMC vs. ESML - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (BBMC) and iShares ESG Aware MSCI USA Small-Cap ETF (ESML). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with BBMC having a 16.66% return and ESML slightly lower at 16.26%.

BBMC

• 1D: -0.12%
• 1M: 4.96%
• YTD: 16.66%
• 6M: 16.84%
• 1Y: 33.04%
• 3Y*: 19.56%
• 5Y*: 8.32%
• 10Y*: —

ESML

• 1D: -0.47%
• 1M: 3.86%
• YTD: 16.26%
• 6M: 15.99%
• 1Y: 34.21%
• 3Y*: 17.27%
• 5Y*: 7.18%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BBMC vs. ESML - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF	16.66%	12.24%	15.15%	18.37%	-19.77%	17.64%	61.98%
ESML iShares ESG Aware MSCI USA Small-Cap ETF	16.26%	10.62%	12.01%	17.27%	-17.28%	19.28%	66.62%

Correlation

The correlation between BBMC and ESML is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Apr 16, 2020	0.98

The correlation between BBMC and ESML has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

BBMC vs. ESML - Sectors Allocation Comparison

Sectors	BBMC	ESML
Technology	21.6%	17.5%
Industrials	18.6%	19.3%
Consumer Cyclical	11.5%	11.3%
Financial Services	10.6%	14.4%
Healthcare	10.0%	12.6%
Real Estate	6.3%	6.5%
Basic Materials	4.9%	3.9%
Consumer Defensive	3.5%	3.7%
Energy	3.1%	5.9%
Utilities	2.6%	2.7%
Communication Services	2.4%	2.2%

Return for Risk

BBMC vs. ESML — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BBMC

BBMC Risk / Return Rank: 63
BBMC Sharpe Ratio Rank: 60
BBMC Sortino Ratio Rank: 60
BBMC Omega Ratio Rank: 56
BBMC Calmar Ratio Rank: 68
BBMC Martin Ratio Rank: 71

ESML

ESML Risk / Return Rank: 66
ESML Sharpe Ratio Rank: 61
ESML Sortino Ratio Rank: 62
ESML Omega Ratio Rank: 57
ESML Calmar Ratio Rank: 75
ESML Martin Ratio Rank: 74

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BBMC vs. ESML - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (BBMC) and iShares ESG Aware MSCI USA Small-Cap ETF (ESML). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BBMC	ESML	Difference
Sharpe ratio: Return per unit of total volatility	2.04	2.07	-0.03
Sortino ratio: Return per unit of downside risk	2.86	2.95	-0.10
Omega ratio: Gain probability vs. loss probability	1.35	1.35	0.00
Calmar ratio: Return relative to maximum drawdown	3.41	3.80	-0.40
Martin ratio: Return relative to average drawdown	13.41	14.00	-0.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BBMC vs. ESML - Sharpe Ratio Comparison

The current BBMC Sharpe Ratio is 2.04, which is comparable to the ESML Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of BBMC and ESML, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BBMC	ESML	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.04	2.07	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.34	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.46	+0.39

Drawdowns

BBMC vs. ESML - Drawdown Comparison

The maximum BBMC drawdown since its inception was -30.11%, smaller than the maximum ESML drawdown of -41.97%. Use the drawdown chart below to compare losses from any high point for BBMC and ESML.

Drawdown Indicators

	BBMC	ESML	Difference
Max Drawdown Largest peak-to-trough decline	-30.11%	-41.97%	+11.86%
Max Drawdown (1Y) Largest decline over 1 year	-9.75%	-9.04%	-0.71%
Max Drawdown (3Y) Largest decline over 3 years	-24.18%	-26.68%	+2.50%
Max Drawdown (5Y) Largest decline over 5 years	-30.11%	-28.61%	-1.50%
Current Drawdown Current decline from peak	-0.12%	-0.47%	+0.35%
Average Drawdown Average peak-to-trough decline	-8.92%	-8.97%	+0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.47%	2.45%	+0.02%

Volatility

BBMC vs. ESML - Volatility Comparison

JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (BBMC) has a higher volatility of 4.72% compared to iShares ESG Aware MSCI USA Small-Cap ETF (ESML) at 4.25%. This indicates that BBMC's price experiences larger fluctuations and is considered to be riskier than ESML based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBMC	ESML	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.72%	4.25%	+0.47%
Volatility (6M) Calculated over the trailing 6-month period	12.14%	11.67%	+0.47%
Volatility (1Y) Calculated over the trailing 1-year period	16.32%	16.66%	-0.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.59%	21.23%	-0.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.08%	23.40%	-2.32%

BBMC vs. ESML - Expense Ratio Comparison

BBMC has a 0.07% expense ratio, which is lower than ESML's 0.17% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BBMC vs. ESML - Dividend Comparison

BBMC's dividend yield for the trailing twelve months is around 1.09%, more than ESML's 0.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF	1.09%	1.25%	1.31%	1.36%	1.48%	0.87%	0.69%	0.00%	0.00%
ESML iShares ESG Aware MSCI USA Small-Cap ETF	0.95%	1.08%	1.22%	1.31%	1.46%	0.94%	0.99%	1.10%	1.07%

Frequently Asked Questions

Can I hold both BBMC and ESML in my portfolio?

With a correlation of 0.98, BBMC and ESML move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BBMC or ESML?

BBMC has higher volatility (4.72%) compared to ESML (4.25%). In terms of maximum drawdown, BBMC dropped -30.11% vs ESML's -41.97%.

Which ETF is better, BBMC or ESML?

On 5-year performance, BBMC leads with 8.32% vs 7.18% for ESML. On fees, BBMC is cheaper at 0.07% per year. On volatility, ESML has been the lower-risk option at 4.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBMC or ESML?

Over the 5-year period, BBMC has performed better with a 8.32% return vs 7.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBMC or ESML?

BBMC is cheaper with a 0.07% expense ratio, compared with 0.17% for ESML.

Which ETF pays a higher dividend yield, BBMC or ESML?

BBMC has the higher dividend yield at 1.09%, compared with 0.95% for ESML.

What is the main difference between BBMC and ESML?

BBMC tracks Morningstar US Mid Cap Target Market Exposure Extended Index, while ESML tracks MSCI USA Small Cap Extended ESG Focus Index. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.07% for BBMC and 0.17% for ESML.

Which has better risk-adjusted returns?

ESML currently has the higher Sharpe Ratio (2.07 vs 2.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.