JGRO vs. SMLV

Last updated Jun 9, 2026

JGRO (JPMorgan Active Growth ETF) and SMLV (SPDR SSGA US Small Cap Low Volatility Index ETF) are both exchange-traded funds - JGRO is a Large Cap Growth Equities fund actively managed by JPMorgan, while SMLV is a Volatility Hedged Equity fund tracking the SSGA US Small Cap Low Volatility Index. JGRO is actively managed, while SMLV is passively managed. Over the past 3 years, JGRO returned 21.66%/yr vs 15.62%/yr for SMLV. A 0.51 correlation means they provide meaningful diversification when combined. JGRO charges 0.44%/yr vs 0.12%/yr for SMLV.

Performance

JGRO vs. SMLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Active Growth ETF (JGRO) and SPDR SSGA US Small Cap Low Volatility Index ETF (SMLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JGRO achieves a 3.00% return, which is significantly lower than SMLV's 14.81% return.

JGRO

• 1D: 0.36%
• 1M: -0.87%
• YTD: 3.00%
• 6M: 1.07%
• 1Y: 16.04%
• 3Y*: 21.66%
• 5Y*: —
• 10Y*: —

SMLV

• 1D: 0.20%
• 1M: 1.40%
• YTD: 14.81%
• 6M: 15.50%
• 1Y: 23.44%
• 3Y*: 15.62%
• 5Y*: 8.02%
• 10Y*: 10.25%

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

JGRO vs. SMLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JGRO JPMorgan Active Growth ETF	3.00%	14.71%	32.77%	37.74%	-10.03%
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF	14.81%	5.66%	16.77%	7.52%	-1.03%

Correlation

The correlation between JGRO and SMLV is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (All Time) Calculated using the full available price history since Aug 10, 2022	0.51

The correlation between JGRO and SMLV shifts across timeframes, from 0.41 (1 year) to 0.51 (all time), reflecting how their relationship changes across market environments.

JGRO vs. SMLV - Sectors Allocation Comparison

Sectors	JGRO	SMLV
Technology	42.0%	11.2%
Communication Services	13.9%	2.2%
Consumer Cyclical	11.7%	8.7%
Healthcare	11.0%	8.7%
Industrials	9.2%	14.3%
Financial Services	5.6%	30.5%
Consumer Defensive	4.1%	4.3%
Energy	1.9%	1.8%
Basic Materials	0.3%	3.2%
Real Estate	0.3%	12.2%
Utilities	0.1%	2.9%

Return for Risk

JGRO vs. SMLV — Risk / Return Rank

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

JGRO

JGRO Risk / Return Rank: 27
JGRO Sharpe Ratio Rank: 31
JGRO Sortino Ratio Rank: 29
JGRO Omega Ratio Rank: 30
JGRO Calmar Ratio Rank: 23
JGRO Martin Ratio Rank: 24

SMLV

SMLV Risk / Return Rank: 54
SMLV Sharpe Ratio Rank: 48
SMLV Sortino Ratio Rank: 49
SMLV Omega Ratio Rank: 49
SMLV Calmar Ratio Rank: 70
SMLV Martin Ratio Rank: 55

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.

JGRO vs. SMLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Active Growth ETF (JGRO) and SPDR SSGA US Small Cap Low Volatility Index ETF (SMLV). 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.

	JGRO	SMLV	Difference
Sharpe ratio: Return per unit of total volatility	1.02	1.50	-0.48
Sortino ratio: Return per unit of downside risk	1.44	2.17	-0.73
Omega ratio: Gain probability vs. loss probability	1.19	1.28	-0.09
Calmar ratio: Return relative to maximum drawdown	0.98	3.21	-2.23
Martin ratio: Return relative to average drawdown	2.95	8.78	-5.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JGRO vs. SMLV - Sharpe Ratio Comparison

The current JGRO Sharpe Ratio is 1.02, which is lower than the SMLV Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of JGRO and SMLV, 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

	JGRO	SMLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	1.50	-0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.44	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	0.55	+0.41

Drawdowns

JGRO vs. SMLV - Drawdown Comparison

The maximum JGRO drawdown since its inception was -22.70%, smaller than the maximum SMLV drawdown of -42.45%. Use the drawdown chart below to compare losses from any high point for JGRO and SMLV.

Drawdown Indicators

	JGRO	SMLV	Difference
Max Drawdown Largest peak-to-trough decline	-22.70%	-42.45%	+19.75%
Max Drawdown (1Y) Largest decline over 1 year	-16.44%	-7.34%	-9.10%
Max Drawdown (3Y) Largest decline over 3 years	-22.70%	-20.40%	-2.30%
Max Drawdown (5Y) Largest decline over 5 years	—	-20.40%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.45%	—
Current Drawdown Current decline from peak	-3.94%	0.00%	-3.94%
Average Drawdown Average peak-to-trough decline	-4.85%	-5.45%	+0.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.45%	2.68%	+2.77%

Volatility

JGRO vs. SMLV - Volatility Comparison

JPMorgan Active Growth ETF (JGRO) has a higher volatility of 4.94% compared to SPDR SSGA US Small Cap Low Volatility Index ETF (SMLV) at 4.09%. This indicates that JGRO's price experiences larger fluctuations and is considered to be riskier than SMLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JGRO	SMLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.94%	4.09%	+0.85%
Volatility (6M) Calculated over the trailing 6-month period	11.98%	9.92%	+2.06%
Volatility (1Y) Calculated over the trailing 1-year period	15.82%	15.73%	+0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.94%	18.29%	+1.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.94%	20.96%	-1.02%

JGRO vs. SMLV - Expense Ratio Comparison

JGRO has a 0.44% expense ratio, which is higher than SMLV's 0.12% expense ratio.

Dividends

JGRO vs. SMLV - Dividend Comparison

JGRO's dividend yield for the trailing twelve months is around 0.15%, less than SMLV's 2.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JGRO JPMorgan Active Growth ETF	0.15%	0.16%	0.10%	0.17%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF	2.31%	2.74%	2.68%	2.68%	2.40%	2.12%	2.47%	2.62%	3.15%	7.92%	3.04%	2.63%

Frequently Asked Questions

Can I hold both JGRO and SMLV in my portfolio?

JGRO and SMLV have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JGRO or SMLV?

JGRO has higher volatility (4.94%) compared to SMLV (4.09%). In terms of maximum drawdown, JGRO dropped -22.70% vs SMLV's -42.45%.

Which ETF is better, JGRO or SMLV?

On 3-year performance, JGRO leads with 21.66% vs 15.62% for SMLV. On fees, SMLV is cheaper at 0.12% per year. On volatility, SMLV has been the lower-risk option at 4.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JGRO or SMLV?

Over the 3-year period, JGRO has performed better with a 21.66% return vs 15.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JGRO or SMLV?

SMLV is cheaper with a 0.12% expense ratio, compared with 0.44% for JGRO.

Which ETF pays a higher dividend yield, JGRO or SMLV?

SMLV has the higher dividend yield at 2.31%, compared with 0.15% for JGRO.

What is the main difference between JGRO and SMLV?

JGRO is categorized as Large Cap Growth Equities, while SMLV is Volatility Hedged Equity. They also come from different issuers: JPMorgan and State Street. Their fees differ too: 0.44% for JGRO and 0.12% for SMLV.

Which has better risk-adjusted returns?

SMLV currently has the higher Sharpe Ratio (1.50 vs 1.02), 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.