BBMC vs. ESML

Last updated Aug 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 8.74%/yr vs 8.21%/yr for ESML. Their 0.98 correlation means they have historically moved very closely together. 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 investments are quite close, with BBMC having a 18.36% return and ESML slightly higher at 19.19%.

BBMC

• 1D: 1.29%
• 1M: -0.65%
• 6M: 12.42%
• YTD: 18.36%
• 1Y: 29.93%
• 3Y*: 17.47%
• 5Y*: 8.74%
• 10Y*: —
• ALL TIME*: 17.55%

ESML

• 1D: 1.57%
• 1M: -0.56%
• 6M: 12.05%
• YTD: 19.19%
• 1Y: 33.37%
• 3Y*: 15.64%
• 5Y*: 8.21%
• 10Y*: —
• ALL TIME*: 10.86%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF	$1.30M	$1.45M	$2.55M
ESML iShares ESG Aware MSCI USA Small-Cap ETF	$4.32M	$5.41M	$11.05M

BBMC vs. ESML - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF	18.36%	12.24%	15.15%	18.37%	-19.77%	17.64%	62.09%
ESML iShares ESG Aware MSCI USA Small-Cap ETF	19.19%	10.62%	12.01%	17.27%	-17.28%	19.28%	59.97%

Correlation

The correlation between BBMC and ESML is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.97
Correlation (3Y) Balances recent behavior with more history.	0.98
Correlation (5Y) Shows whether the relationship held over a longer period.	0.99
Correlation (All Time) Calculated using the full available price history since Apr 15, 2020	0.98

The correlation between BBMC and ESML has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.

BBMC vs. ESML - Sectors Allocation Comparison

Sectors	BBMC	ESML
Industrials	22.8%	17.7%
Technology	15.0%	21.1%
Financial Services	12.9%	13.6%
Healthcare	12.9%	13.8%
Consumer Cyclical	11.8%	10.8%
Real Estate	6.7%	6.5%
Basic Materials	4.4%	3.6%
Consumer Defensive	4.0%	3.4%
Energy	3.5%	4.4%
Communication Services	3.4%	2.4%
Utilities	2.7%	2.6%

Return for Risk

BBMC vs. ESML — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BBMC

BBMC Risk / Return Rank: 78
BBMC Sharpe Ratio Rank: 75
BBMC Sortino Ratio Rank: 75
BBMC Omega Ratio Rank: 72
BBMC Calmar Ratio Rank: 81
BBMC Martin Ratio Rank: 84

ESML

ESML Risk / Return Rank: 83
ESML Sharpe Ratio Rank: 81
ESML Sortino Ratio Rank: 83
ESML Omega Ratio Rank: 78
ESML Calmar Ratio Rank: 88
ESML Martin Ratio Rank: 86

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BBMC	ESML	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.96	-0.16
Sortino ratio: Return per unit of downside risk	2.55	2.84	-0.28
Omega ratio: Gain probability vs. loss probability	1.31	1.34	-0.02
Calmar ratio: Return relative to maximum drawdown	3.08	3.71	-0.63
Martin ratio: Return relative to average drawdown	11.91	12.97	-1.06

BBMC vs. ESML - Sharpe Ratio Comparison

The current BBMC Sharpe Ratio is 1.80, which is comparable to the ESML Sharpe Ratio of 1.96. 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.

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	-1.22%	-2.44%	+1.22%
Average Drawdown Average peak-to-trough decline	-8.73%	-8.83%	+0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	2.58%	-0.06%

Volatility

BBMC vs. ESML - Volatility Comparison

The current volatility for JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (BBMC) is 3.57%, while iShares ESG Aware MSCI USA Small-Cap ETF (ESML) has a volatility of 4.11%. This indicates that BBMC experiences smaller price fluctuations and is considered to be less risky 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	3.57%	4.11%	-0.54%
Volatility (6M) Calculated over the trailing 6-month period	12.62%	12.38%	+0.24%
Volatility (1Y) Calculated over the trailing 1-year period	16.77%	17.13%	-0.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.60%	21.21%	-0.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.95%	23.29%	-2.34%

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 1.12%, more than ESML's 0.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF	1.12%	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	0.91%	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 0.97, 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?

ESML has higher volatility (4.11%) compared to BBMC (3.57%). 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 8.74% vs 8.21% for ESML. On fees, BBMC is cheaper at 0.07% per year. On volatility, BBMC has been the lower-risk option at 3.57%. 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 8.74% return vs 8.21%. 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 1.12%, compared with 0.91% 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 (1.96 vs 1.80), 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.