JFLI vs. ELM

Last updated Jun 4, 2026

JFLI (JPMorgan Flexible Income ETF) and ELM (Elm Market Navigator ETF) are both exchange-traded funds - JFLI is a Global Allocation fund actively managed by JPMorgan, while ELM is a Tactical Allocation fund actively managed by Elm. Both are actively managed. Over the past year, JFLI returned 21.09% vs 19.85% for ELM. Their correlation of 0.87 suggests significant overlap in exposure. JFLI charges 0.35%/yr vs 0.24%/yr for ELM.

Performance

JFLI vs. ELM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Flexible Income ETF (JFLI) and Elm Market Navigator ETF (ELM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JFLI achieves a 9.90% return, which is significantly higher than ELM's 7.56% return.

JFLI

• 1D: -0.32%
• 1M: 3.80%
• YTD: 9.90%
• 6M: 9.51%
• 1Y: 21.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ELM

• 1D: -0.58%
• 1M: 2.88%
• YTD: 7.56%
• 6M: 8.51%
• 1Y: 19.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JFLI vs. ELM - Yearly Performance Comparison

	2026 (YTD)	2025
JFLI JPMorgan Flexible Income ETF	9.90%	9.49%
ELM Elm Market Navigator ETF	7.56%	11.12%

Correlation

The correlation between JFLI and ELM is 0.89, 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	0.89
Correlation (All Time) Calculated using the full available price history since Feb 14, 2025	0.87

The correlation between JFLI and ELM has been stable across timeframes, ranging from 0.87 to 0.89 - a consistent structural relationship.

JFLI vs. ELM - Sectors Allocation Comparison

Sectors	JFLI	ELM
Technology	28.4%	22.0%
Financial Services	10.4%	18.3%
Communication Services	9.8%	6.6%
Consumer Cyclical	9.3%	9.1%
Consumer Defensive	8.1%	5.2%
Industrials	7.8%	12.6%
Healthcare	7.2%	8.3%
Utilities	6.5%	3.0%
Energy	5.0%	4.8%
Real Estate	4.6%	4.7%
Basic Materials	3.1%	5.4%

Return for Risk

JFLI vs. ELM — Risk / Return Rank

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

JFLI

JFLI Risk / Return Rank: 76
JFLI Sharpe Ratio Rank: 77
JFLI Sortino Ratio Rank: 79
JFLI Omega Ratio Rank: 80
JFLI Calmar Ratio Rank: 64
JFLI Martin Ratio Rank: 79

ELM

ELM Risk / Return Rank: 63
ELM Sharpe Ratio Rank: 64
ELM Sortino Ratio Rank: 66
ELM Omega Ratio Rank: 67
ELM Calmar Ratio Rank: 54
ELM Martin Ratio Rank: 62

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.

JFLI vs. ELM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Flexible Income ETF (JFLI) and Elm Market Navigator ETF (ELM). 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.

	JFLI	ELM	Difference
Sharpe ratio: Return per unit of total volatility	2.53	2.13	+0.40
Sortino ratio: Return per unit of downside risk	3.58	3.00	+0.59
Omega ratio: Gain probability vs. loss probability	1.48	1.40	+0.08
Calmar ratio: Return relative to maximum drawdown	3.17	2.65	+0.52
Martin ratio: Return relative to average drawdown	15.34	11.00	+4.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JFLI vs. ELM - Sharpe Ratio Comparison

The current JFLI Sharpe Ratio is 2.53, which is comparable to the ELM Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of JFLI and ELM, 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

	JFLI	ELM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.53	2.13	+0.40
Sharpe Ratio (All Time) Calculated using the full available price history	1.29	1.49	-0.20

Drawdowns

JFLI vs. ELM - Drawdown Comparison

The maximum JFLI drawdown since its inception was -12.87%, which is greater than ELM's maximum drawdown of -9.02%. Use the drawdown chart below to compare losses from any high point for JFLI and ELM.

Drawdown Indicators

	JFLI	ELM	Difference
Max Drawdown Largest peak-to-trough decline	-12.87%	-9.02%	-3.85%
Max Drawdown (1Y) Largest decline over 1 year	-6.67%	-7.52%	+0.85%
Current Drawdown Current decline from peak	-0.32%	-0.58%	+0.26%
Average Drawdown Average peak-to-trough decline	-1.44%	-1.32%	-0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.38%	1.81%	-0.43%

Volatility

JFLI vs. ELM - Volatility Comparison

The current volatility for JPMorgan Flexible Income ETF (JFLI) is 2.35%, while Elm Market Navigator ETF (ELM) has a volatility of 2.59%. This indicates that JFLI experiences smaller price fluctuations and is considered to be less risky than ELM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JFLI	ELM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.35%	2.59%	-0.24%
Volatility (6M) Calculated over the trailing 6-month period	6.93%	7.52%	-0.59%
Volatility (1Y) Calculated over the trailing 1-year period	8.39%	9.38%	-0.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.90%	10.27%	+1.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.90%	10.27%	+1.63%

JFLI vs. ELM - Expense Ratio Comparison

JFLI has a 0.35% expense ratio, which is higher than ELM's 0.24% expense ratio.

Dividends

JFLI vs. ELM - Dividend Comparison

JFLI's dividend yield for the trailing twelve months is around 7.18%, more than ELM's 2.52% yield.

Position	TTM	2025
ELM Elm Market Navigator ETF	2.52%	2.71%
JFLI JPMorgan Flexible Income ETF	7.18%	6.81%

Frequently Asked Questions

Can I hold both JFLI and ELM in my portfolio?

JFLI and ELM have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JFLI or ELM?

ELM has higher volatility (2.59%) compared to JFLI (2.35%). In terms of maximum drawdown, JFLI dropped -12.87% vs ELM's -9.02%.

Which ETF is better, JFLI or ELM?

On 1-year performance, JFLI leads with 21.09% vs 19.85% for ELM. On fees, ELM is cheaper at 0.24% per year. On volatility, JFLI has been the lower-risk option at 2.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JFLI or ELM?

Over the 1-year period, JFLI has performed better with a 21.09% return vs 19.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JFLI or ELM?

ELM is cheaper with a 0.24% expense ratio, compared with 0.35% for JFLI.

Which ETF pays a higher dividend yield, JFLI or ELM?

JFLI has the higher dividend yield at 7.18%, compared with 2.52% for ELM.

What is the main difference between JFLI and ELM?

JFLI is categorized as Global Allocation, while ELM is Tactical Allocation. They also come from different issuers: JPMorgan and Elm. Their fees differ too: 0.35% for JFLI and 0.24% for ELM.

Which has better risk-adjusted returns?

JFLI currently has the higher Sharpe Ratio (2.53 vs 2.13), 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.