JIRE vs. GMOI

Last updated Jun 24, 2026

JIRE (JPMorgan International Research Enhanced Equity ETF) and GMOI (GMO International Value ETF) are both Foreign Large Cap Equities funds. JIRE is actively managed, while GMOI is passively managed. Over the past year, JIRE returned 21.48% vs 35.21% for GMOI. Their correlation of 0.89 suggests significant overlap in exposure. JIRE charges 0.24%/yr vs 0.60%/yr for GMOI.

Performance

JIRE vs. GMOI - Performance Comparison

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

Returns By Period

In the year-to-date period, JIRE achieves a 8.39% return, which is significantly lower than GMOI's 11.52% return.

JIRE

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

GMOI

• 1D: -1.03%
• 1M: -1.76%
• YTD: 11.52%
• 6M: 11.19%
• 1Y: 35.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JIRE vs. GMOI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JIRE JPMorgan International Research Enhanced Equity ETF	8.39%	31.83%	-5.32%
GMOI GMO International Value ETF	11.52%	45.64%	-4.48%

Correlation

The correlation between JIRE and GMOI 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 Oct 29, 2024	0.89

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

Return for Risk

JIRE vs. GMOI — Risk / Return Rank

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

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

GMOI

GMOI Risk / Return Rank: 85
GMOI Sharpe Ratio Rank: 87
GMOI Sortino Ratio Rank: 87
GMOI Omega Ratio Rank: 83
GMOI Calmar Ratio Rank: 84
GMOI Martin Ratio Rank: 85

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.

JIRE vs. GMOI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan International Research Enhanced Equity ETF (JIRE) and GMO International Value ETF (GMOI). 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.

	JIRE	GMOI	Difference
Sharpe ratio: Return per unit of total volatility	1.34	2.64	-1.30
Sortino ratio: Return per unit of downside risk	1.94	3.65	-1.71
Omega ratio: Gain probability vs. loss probability	1.24	1.47	-0.22
Calmar ratio: Return relative to maximum drawdown	1.83	4.23	-2.40
Martin ratio: Return relative to average drawdown	6.61	16.65	-10.04

JIRE vs. GMOI - Sharpe Ratio Comparison

The current JIRE Sharpe Ratio is 1.34, which is lower than the GMOI Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of JIRE and GMOI, 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

JIRE vs. GMOI - Drawdown Comparison

The maximum JIRE drawdown since its inception was -16.11%, which is greater than GMOI's maximum drawdown of -14.67%. Use the drawdown chart below to compare losses from any high point for JIRE and GMOI.

Drawdown Indicators

	JIRE	GMOI	Difference
Max Drawdown Largest peak-to-trough decline	-16.11%	-14.67%	-1.44%
Max Drawdown (1Y) Largest decline over 1 year	-11.77%	-8.36%	-3.41%
Max Drawdown (3Y) Largest decline over 3 years	-13.61%	—	—
Current Drawdown Current decline from peak	-1.96%	-2.63%	+0.67%
Average Drawdown Average peak-to-trough decline	-3.02%	-1.69%	-1.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	2.12%	+1.14%

Volatility

JIRE vs. GMOI - Volatility Comparison

JPMorgan International Research Enhanced Equity ETF (JIRE) has a higher volatility of 5.22% compared to GMO International Value ETF (GMOI) at 3.99%. This indicates that JIRE's price experiences larger fluctuations and is considered to be riskier than GMOI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JIRE	GMOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.22%	3.99%	+1.23%
Volatility (6M) Calculated over the trailing 6-month period	13.55%	10.67%	+2.88%
Volatility (1Y) Calculated over the trailing 1-year period	16.10%	13.40%	+2.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.36%	15.57%	+0.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.36%	15.57%	+0.79%

JIRE vs. GMOI - Expense Ratio Comparison

JIRE has a 0.24% expense ratio, which is lower than GMOI's 0.60% expense ratio.

Dividends

JIRE vs. GMOI - Dividend Comparison

JIRE's dividend yield for the trailing twelve months is around 2.76%, more than GMOI's 2.45% yield.

Position	TTM	2025	2024	2023	2022
GMOI GMO International Value ETF	2.45%	2.74%	0.54%	0.00%	0.00%
JIRE JPMorgan International Research Enhanced Equity ETF	2.76%	2.99%	3.03%	2.74%	2.62%

Frequently Asked Questions

Can I hold both JIRE and GMOI in my portfolio?

JIRE and GMOI 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, JIRE or GMOI?

JIRE has higher volatility (5.22%) compared to GMOI (3.99%). In terms of maximum drawdown, JIRE dropped -16.11% vs GMOI's -14.67%.

Which ETF is better, JIRE or GMOI?

On 1-year performance, GMOI leads with 35.21% vs 21.48% for JIRE. On fees, JIRE is cheaper at 0.24% per year. On volatility, GMOI has been the lower-risk option at 3.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JIRE or GMOI?

Over the 1-year period, GMOI has performed better with a 35.21% return vs 21.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JIRE or GMOI?

JIRE is cheaper with a 0.24% expense ratio, compared with 0.60% for GMOI.

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

JIRE has the higher dividend yield at 2.76%, compared with 2.45% for GMOI.

What is the main difference between JIRE and GMOI?

They also come from different issuers: JPMorgan and GMO. Their fees differ too: 0.24% for JIRE and 0.60% for GMOI.

Which has better risk-adjusted returns?

GMOI currently has the higher Sharpe Ratio (2.64 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.