JMEE vs. GRPM

Last updated Jun 3, 2026

JMEE (JPMorgan Small & Mid Cap Enhanced Equity ETF) and GRPM (Invesco S&P MidCap 400® GARP ETF) are both exchange-traded funds - JMEE is a Small Cap Blend Equities fund actively managed by JPMorgan, while GRPM is a Mid Cap Blend Equities fund tracking the S&P MidCap 400® GARP Index. JMEE is actively managed, while GRPM is passively managed. Over the past 3 years, JMEE returned 17.47%/yr vs 14.98%/yr for GRPM. Their correlation of 0.95 suggests significant overlap in exposure. JMEE charges 0.24%/yr vs 0.35%/yr for GRPM.

Performance

JMEE vs. GRPM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Small & Mid Cap Enhanced Equity ETF (JMEE) and Invesco S&P MidCap 400® GARP ETF (GRPM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JMEE achieves a 16.71% return, which is significantly higher than GRPM's 7.23% return.

JMEE

• 1D: 1.02%
• 1M: 3.00%
• YTD: 16.71%
• 6M: 17.77%
• 1Y: 32.96%
• 3Y*: 17.47%
• 5Y*: —
• 10Y*: —

GRPM

• 1D: 0.53%
• 1M: 2.17%
• YTD: 7.23%
• 6M: 8.16%
• 1Y: 24.41%
• 3Y*: 14.98%
• 5Y*: 7.70%
• 10Y*: 11.00%

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

JMEE vs. GRPM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JMEE JPMorgan Small & Mid Cap Enhanced Equity ETF	16.71%	7.65%	13.65%	18.12%	1.37%
GRPM Invesco S&P MidCap 400® GARP ETF	7.23%	7.81%	15.67%	18.79%	2.77%

Correlation

The correlation between JMEE and GRPM 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 (3Y) Calculated over the trailing 3-year period	0.93
Correlation (All Time) Calculated using the full available price history since May 10, 2022	0.95

The correlation between JMEE and GRPM has been stable across timeframes, ranging from 0.89 to 0.95 - a consistent structural relationship.

JMEE vs. GRPM - Sectors Allocation Comparison

Sectors	JMEE	GRPM
Industrials	21.3%	10.0%
Financial Services	15.9%	29.9%
Technology	15.8%	16.6%
Consumer Cyclical	12.1%	9.7%
Healthcare	8.8%	12.3%
Real Estate	8.1%	-
Energy	5.5%	15.8%
Basic Materials	4.8%	-
Consumer Defensive	3.9%	5.8%
Utilities	2.2%	-
Communication Services	1.7%	-

Return for Risk

JMEE vs. GRPM — Risk / Return Rank

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

JMEE

JMEE Risk / Return Rank: 66
JMEE Sharpe Ratio Rank: 61
JMEE Sortino Ratio Rank: 62
JMEE Omega Ratio Rank: 58
JMEE Calmar Ratio Rank: 77
JMEE Martin Ratio Rank: 73

GRPM

GRPM Risk / Return Rank: 49
GRPM Sharpe Ratio Rank: 43
GRPM Sortino Ratio Rank: 45
GRPM Omega Ratio Rank: 40
GRPM Calmar Ratio Rank: 63
GRPM 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.

JMEE vs. GRPM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Small & Mid Cap Enhanced Equity ETF (JMEE) and Invesco S&P MidCap 400® GARP ETF (GRPM). 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.

	JMEE	GRPM	Difference
Sharpe ratio Return per unit of total volatility	2.08	1.52	+0.56
Sortino ratio Return per unit of downside risk	2.97	2.23	+0.73
Omega ratio Gain probability vs. loss probability	1.36	1.26	+0.10
Calmar ratio Return relative to maximum drawdown	3.99	3.22	+0.77
Martin ratio Return relative to average drawdown	14.01	9.53	+4.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JMEE vs. GRPM - Sharpe Ratio Comparison

The current JMEE Sharpe Ratio is 2.08, which is higher than the GRPM Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of JMEE and GRPM, 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

	JMEE	GRPM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.08	1.52	+0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.37	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.50	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.55	+0.18

Drawdowns

JMEE vs. GRPM - Drawdown Comparison

The maximum JMEE drawdown since its inception was -25.40%, smaller than the maximum GRPM drawdown of -43.12%. Use the drawdown chart below to compare losses from any high point for JMEE and GRPM.

Drawdown Indicators

	JMEE	GRPM	Difference
Max Drawdown Largest peak-to-trough decline	-25.40%	-43.12%	+17.72%
Max Drawdown (1Y) Largest decline over 1 year	-8.24%	-7.62%	-0.62%
Max Drawdown (3Y) Largest decline over 3 years	-25.40%	-28.09%	+2.69%
Max Drawdown (5Y) Largest decline over 5 years	—	-28.09%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-43.12%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.39%	-5.71%	+0.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.34%	2.57%	-0.23%

Volatility

JMEE vs. GRPM - Volatility Comparison

JPMorgan Small & Mid Cap Enhanced Equity ETF (JMEE) has a higher volatility of 4.48% compared to Invesco S&P MidCap 400® GARP ETF (GRPM) at 3.83%. This indicates that JMEE's price experiences larger fluctuations and is considered to be riskier than GRPM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JMEE	GRPM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.48%	3.83%	+0.65%
Volatility (6M) Calculated over the trailing 6-month period	11.27%	10.44%	+0.83%
Volatility (1Y) Calculated over the trailing 1-year period	15.90%	16.13%	-0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.51%	20.90%	-1.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.51%	22.25%	-2.74%

JMEE vs. GRPM - Expense Ratio Comparison

JMEE has a 0.24% expense ratio, which is lower than GRPM's 0.35% expense ratio.

Dividends

JMEE vs. GRPM - Dividend Comparison

JMEE's dividend yield for the trailing twelve months is around 0.96%, which matches GRPM's 0.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GRPM Invesco S&P MidCap 400® GARP ETF	0.96%	1.19%	0.95%	0.96%	1.28%	0.92%	1.16%	1.25%	1.50%	1.14%	1.00%	1.43%
JMEE JPMorgan Small & Mid Cap Enhanced Equity ETF	0.96%	1.13%	0.95%	1.25%	6.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JMEE and GRPM in my portfolio?

JMEE and GRPM 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, JMEE or GRPM?

JMEE has higher volatility (4.48%) compared to GRPM (3.83%). In terms of maximum drawdown, JMEE dropped -25.40% vs GRPM's -43.12%.

Which ETF is better, JMEE or GRPM?

On 3-year performance, JMEE leads with 17.47% vs 14.98% for GRPM. On fees, JMEE is cheaper at 0.24% per year. On volatility, GRPM has been the lower-risk option at 3.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JMEE or GRPM?

Over the 3-year period, JMEE has performed better with a 17.47% return vs 14.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JMEE or GRPM?

JMEE is cheaper with a 0.24% expense ratio, compared with 0.35% for GRPM.

Which ETF pays a higher dividend yield, JMEE or GRPM?

JMEE and GRPM have nearly identical dividend yields, around 0.96%.

What is the main difference between JMEE and GRPM?

JMEE is categorized as Small Cap Blend Equities, while GRPM is Mid Cap Blend Equities. They also come from different issuers: JPMorgan and Invesco. Their fees differ too: 0.24% for JMEE and 0.35% for GRPM.

Which has better risk-adjusted returns?

JMEE currently has the higher Sharpe Ratio (2.08 vs 1.52), 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.