IMTM vs. JIRE

Last updated Jun 24, 2026

IMTM (iShares MSCI Intl Momentum Factor ETF) and JIRE (JPMorgan International Research Enhanced Equity ETF) are both exchange-traded funds - IMTM is a Momentum fund tracking the MSCI World ex USA Momentum Index, while JIRE is a Foreign Large Cap Equities fund actively managed by JPMorgan. IMTM is passively managed, while JIRE is actively managed. Over the past 3 years, IMTM returned 21.49%/yr vs 16.50%/yr for JIRE. Their correlation of 0.92 suggests significant overlap in exposure. IMTM charges 0.30%/yr vs 0.24%/yr for JIRE.

Performance

IMTM vs. JIRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Intl Momentum Factor ETF (IMTM) and JPMorgan International Research Enhanced Equity ETF (JIRE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IMTM achieves a 11.09% return, which is significantly higher than JIRE's 8.39% return.

IMTM

• 1D: -3.05%
• 1M: 0.97%
• YTD: 11.09%
• 6M: 10.38%
• 1Y: 24.50%
• 3Y*: 21.49%
• 5Y*: 9.41%
• 10Y*: 10.18%

JIRE

• 1D: -1.96%
• 1M: 0.55%
• YTD: 8.39%
• 6M: 7.95%
• 1Y: 21.48%
• 3Y*: 16.50%
• 5Y*: —
• 10Y*: —

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

IMTM vs. JIRE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IMTM iShares MSCI Intl Momentum Factor ETF	11.09%	34.50%	12.17%	13.89%	-0.15%
JIRE JPMorgan International Research Enhanced Equity ETF	8.39%	31.83%	3.15%	20.00%	5.09%

Correlation

The correlation between IMTM and JIRE is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jun 13, 2022	0.92

The correlation between IMTM and JIRE has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

IMTM vs. JIRE - Sectors Allocation Comparison

Sectors	IMTM	JIRE
Financial Services	28.6%	23.4%
Technology	15.6%	13.2%
Industrials	15.5%	15.1%
Energy	10.0%	2.5%
Basic Materials	9.7%	5.1%
Healthcare	8.9%	8.8%
Utilities	5.3%	2.3%
Consumer Defensive	2.1%	6.2%
Consumer Cyclical	1.8%	6.3%
Communication Services	1.5%	2.8%
Real Estate	1.1%	0.9%

Return for Risk

IMTM vs. JIRE — Risk / Return Rank

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

IMTM

IMTM Risk / Return Rank: 41
IMTM Sharpe Ratio Rank: 40
IMTM Sortino Ratio Rank: 40
IMTM Omega Ratio Rank: 40
IMTM Calmar Ratio Rank: 40
IMTM Martin Ratio Rank: 47

JIRE

JIRE Risk / Return Rank: 40
JIRE Sharpe Ratio Rank: 40
JIRE Sortino Ratio Rank: 39
JIRE Omega Ratio Rank: 38
JIRE Calmar Ratio Rank: 38
JIRE Martin Ratio Rank: 43

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.

IMTM vs. JIRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Intl Momentum Factor ETF (IMTM) and JPMorgan International Research Enhanced Equity ETF (JIRE). 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.

	IMTM	JIRE	Difference
Sharpe ratio: Return per unit of total volatility	1.35	1.34	+0.01
Sortino ratio: Return per unit of downside risk	1.96	1.94	+0.02
Omega ratio: Gain probability vs. loss probability	1.25	1.24	+0.01
Calmar ratio: Return relative to maximum drawdown	1.92	1.83	+0.08
Martin ratio: Return relative to average drawdown	7.58	6.61	+0.97

IMTM vs. JIRE - Sharpe Ratio Comparison

The current IMTM Sharpe Ratio is 1.35, which is comparable to the JIRE Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of IMTM and JIRE, 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

IMTM vs. JIRE - Drawdown Comparison

The maximum IMTM drawdown since its inception was -32.66%, which is greater than JIRE's maximum drawdown of -16.11%. Use the drawdown chart below to compare losses from any high point for IMTM and JIRE.

Drawdown Indicators

	IMTM	JIRE	Difference
Max Drawdown Largest peak-to-trough decline	-32.66%	-16.11%	-16.55%
Max Drawdown (1Y) Largest decline over 1 year	-12.85%	-11.77%	-1.08%
Max Drawdown (3Y) Largest decline over 3 years	-12.85%	-13.61%	+0.76%
Max Drawdown (5Y) Largest decline over 5 years	-32.66%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-32.66%	—	—
Current Drawdown Current decline from peak	-3.05%	-1.96%	-1.09%
Average Drawdown Average peak-to-trough decline	-7.42%	-3.02%	-4.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	3.26%	-0.02%

Volatility

IMTM vs. JIRE - Volatility Comparison

iShares MSCI Intl Momentum Factor ETF (IMTM) has a higher volatility of 7.39% compared to JPMorgan International Research Enhanced Equity ETF (JIRE) at 5.22%. This indicates that IMTM's price experiences larger fluctuations and is considered to be riskier than JIRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMTM	JIRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.39%	5.22%	+2.17%
Volatility (6M) Calculated over the trailing 6-month period	16.35%	13.55%	+2.80%
Volatility (1Y) Calculated over the trailing 1-year period	18.19%	16.10%	+2.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.85%	16.36%	+1.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.62%	16.36%	+1.26%

IMTM vs. JIRE - Expense Ratio Comparison

IMTM has a 0.30% expense ratio, which is higher than JIRE's 0.24% expense ratio.

Dividends

IMTM vs. JIRE - Dividend Comparison

IMTM's dividend yield for the trailing twelve months is around 4.41%, more than JIRE's 2.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IMTM iShares MSCI Intl Momentum Factor ETF	4.41%	4.70%	2.93%	2.29%	2.68%	2.51%	0.97%	2.13%	2.36%	1.92%	2.75%	1.56%
JIRE JPMorgan International Research Enhanced Equity ETF	2.76%	2.99%	3.03%	2.74%	2.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IMTM and JIRE in my portfolio?

With a correlation of 0.91, IMTM and JIRE 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, IMTM or JIRE?

IMTM has higher volatility (7.39%) compared to JIRE (5.22%). In terms of maximum drawdown, IMTM dropped -32.66% vs JIRE's -16.11%.

Which ETF is better, IMTM or JIRE?

On 3-year performance, IMTM leads with 21.49% vs 16.50% for JIRE. On fees, JIRE is cheaper at 0.24% per year. On volatility, JIRE has been the lower-risk option at 5.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IMTM or JIRE?

Over the 3-year period, IMTM has performed better with a 21.49% return vs 16.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IMTM or JIRE?

JIRE is cheaper with a 0.24% expense ratio, compared with 0.30% for IMTM.

Which ETF pays a higher dividend yield, IMTM or JIRE?

IMTM has the higher dividend yield at 4.41%, compared with 2.76% for JIRE.

What is the main difference between IMTM and JIRE?

IMTM is categorized as Momentum, while JIRE is Foreign Large Cap Equities. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.30% for IMTM and 0.24% for JIRE.

Which has better risk-adjusted returns?

IMTM currently has the higher Sharpe Ratio (1.35 vs 1.34), 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.