JIRE vs. IMTM

Last updated Jun 23, 2026

JIRE (JPMorgan International Research Enhanced Equity ETF) and IMTM (iShares MSCI Intl Momentum Factor ETF) are both exchange-traded funds - JIRE is a Foreign Large Cap Equities fund actively managed by JPMorgan, while IMTM is a Momentum fund tracking the MSCI World ex USA Momentum Index. JIRE is actively managed, while IMTM is passively managed. Over the past 3 years, JIRE returned 17.27%/yr vs 22.75%/yr for IMTM. Their correlation of 0.92 suggests significant overlap in exposure. JIRE charges 0.24%/yr vs 0.30%/yr for IMTM.

Performance

JIRE vs. IMTM - Performance Comparison

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

Returns By Period

In the year-to-date period, JIRE achieves a 10.55% return, which is significantly lower than IMTM's 14.59% return.

JIRE

• 1D: 0.10%
• 1M: 2.55%
• YTD: 10.55%
• 6M: 10.91%
• 1Y: 24.80%
• 3Y*: 17.27%
• 5Y*: —
• 10Y*: —

IMTM

• 1D: 1.12%
• 1M: 4.15%
• YTD: 14.59%
• 6M: 14.54%
• 1Y: 29.54%
• 3Y*: 22.75%
• 5Y*: 10.33%
• 10Y*: 10.52%

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

JIRE vs. IMTM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JIRE JPMorgan International Research Enhanced Equity ETF	10.55%	31.83%	3.15%	20.00%	5.09%
IMTM iShares MSCI Intl Momentum Factor ETF	14.59%	34.50%	12.17%	13.89%	-0.15%

Correlation

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

JIRE vs. IMTM - Sectors Allocation Comparison

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

Return for Risk

JIRE vs. IMTM — Risk / Return Rank

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

JIRE

JIRE Risk / Return Rank: 45
JIRE Sharpe Ratio Rank: 46
JIRE Sortino Ratio Rank: 46
JIRE Omega Ratio Rank: 45
JIRE Calmar Ratio Rank: 44
JIRE Martin Ratio Rank: 47

IMTM

IMTM Risk / Return Rank: 50
IMTM Sharpe Ratio Rank: 50
IMTM Sortino Ratio Rank: 50
IMTM Omega Ratio Rank: 49
IMTM Calmar Ratio Rank: 48
IMTM Martin Ratio Rank: 54

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. IMTM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan International Research Enhanced Equity ETF (JIRE) and iShares MSCI Intl Momentum Factor ETF (IMTM). 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	IMTM	Difference
Sharpe ratio: Return per unit of total volatility	1.56	1.66	-0.10
Sortino ratio: Return per unit of downside risk	2.23	2.36	-0.13
Omega ratio: Gain probability vs. loss probability	1.28	1.30	-0.02
Calmar ratio: Return relative to maximum drawdown	2.12	2.31	-0.19
Martin ratio: Return relative to average drawdown	7.64	9.15	-1.52

JIRE vs. IMTM - Sharpe Ratio Comparison

The current JIRE Sharpe Ratio is 1.56, which is comparable to the IMTM Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of JIRE and IMTM, 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. IMTM - Drawdown Comparison

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

Drawdown Indicators

	JIRE	IMTM	Difference
Max Drawdown Largest peak-to-trough decline	-16.11%	-32.66%	+16.55%
Max Drawdown (1Y) Largest decline over 1 year	-11.77%	-12.85%	+1.08%
Max Drawdown (3Y) Largest decline over 3 years	-13.61%	-12.85%	-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	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.02%	-7.42%	+4.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	3.24%	+0.02%

Volatility

JIRE vs. IMTM - Volatility Comparison

The current volatility for JPMorgan International Research Enhanced Equity ETF (JIRE) is 4.80%, while iShares MSCI Intl Momentum Factor ETF (IMTM) has a volatility of 6.62%. This indicates that JIRE experiences smaller price fluctuations and is considered to be less risky than IMTM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JIRE	IMTM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.80%	6.62%	-1.82%
Volatility (6M) Calculated over the trailing 6-month period	13.41%	16.04%	-2.63%
Volatility (1Y) Calculated over the trailing 1-year period	16.00%	17.95%	-1.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.33%	17.80%	-1.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.33%	17.59%	-1.26%

JIRE vs. IMTM - Expense Ratio Comparison

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

Dividends

JIRE vs. IMTM - Dividend Comparison

JIRE's dividend yield for the trailing twelve months is around 2.71%, less than IMTM's 4.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IMTM iShares MSCI Intl Momentum Factor ETF	4.28%	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	2.71%	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 JIRE and IMTM in my portfolio?

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

IMTM has higher volatility (6.62%) compared to JIRE (4.80%). In terms of maximum drawdown, JIRE dropped -16.11% vs IMTM's -32.66%.

Which ETF is better, JIRE or IMTM?

On 3-year performance, IMTM leads with 22.75% vs 17.27% for JIRE. On fees, JIRE is cheaper at 0.24% per year. On volatility, JIRE has been the lower-risk option at 4.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JIRE or IMTM?

Over the 3-year period, IMTM has performed better with a 22.75% return vs 17.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JIRE or IMTM?

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

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

IMTM has the higher dividend yield at 4.28%, compared with 2.71% for JIRE.

What is the main difference between JIRE and IMTM?

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

Which has better risk-adjusted returns?

IMTM currently has the higher Sharpe Ratio (1.66 vs 1.56), 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.