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JMEE vs. IWM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JMEE vs. IWM

Last updated Jun 24, 2026

JMEE (JPMorgan Small & Mid Cap Enhanced Equity ETF) and IWM (iShares Russell 2000 ETF) are both Small Cap Blend Equities funds. JMEE is actively managed, while IWM is passively managed. Over the past 3 years, JMEE returned 17.77%/yr vs 19.22%/yr for IWM. With a 0.96 correlation, they move nearly in lockstep. JMEE charges 0.24%/yr vs 0.19%/yr for IWM.

Performance

JMEE vs. IWM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Small & Mid Cap Enhanced Equity ETF (JMEE) and iShares Russell 2000 ETF (IWM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, JMEE achieves a 18.13% return, which is significantly lower than IWM's 20.47% return.

JMEE

1D
-0.87%
1M
3.51%
YTD
18.13%
6M
15.84%
1Y
31.92%
3Y*
17.77%
5Y*
—
10Y*
—

IWM

1D
-0.96%
1M
3.82%
YTD
20.47%
6M
17.64%
1Y
40.90%
3Y*
19.22%
5Y*
6.27%
10Y*
11.58%
*Multi-year figures are annualized to reflect compound growth (CAGR)

JMEE vs. IWM - Yearly Performance Comparison

2026 (YTD)2025202420232022
JMEE
JPMorgan Small & Mid Cap Enhanced Equity ETF		18.13%7.65%13.65%18.12%0.09%
IWM
iShares Russell 2000 ETF		20.47%12.66%11.38%16.83%-3.31%

Correlation

The correlation between JMEE and IWM is 0.94, 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

0.94

Correlation (3Y)
Calculated over the trailing 3-year period

0.95

Correlation (All Time)
Calculated using the full available price history since May 9, 2022

0.96

The correlation between JMEE and IWM has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

JMEE vs. IWM - Sectors Allocation Comparison

Sectors
JMEE
IWM

Industrials

20.9%
17.3%

Technology

18.3%
20.1%

Financial Services

15.3%
15.5%

Consumer Cyclical

11.9%
8.0%

Healthcare

8.9%
15.6%

Real Estate

7.6%
5.5%

Energy

5.0%
6.0%

Basic Materials

4.7%
4.5%

Consumer Defensive

3.6%
2.0%

Utilities

2.1%
3.1%

Communication Services

1.7%
1.7%

Industrials

JMEE
20.9%
IWM
17.3%

Technology

JMEE
18.3%
IWM
20.1%

Financial Services

JMEE
15.3%
IWM
15.5%

Consumer Cyclical

JMEE
11.9%
IWM
8.0%

Healthcare

JMEE
8.9%
IWM
15.6%

Real Estate

JMEE
7.6%
IWM
5.5%

Energy

JMEE
5.0%
IWM
6.0%

Basic Materials

JMEE
4.7%
IWM
4.5%

Consumer Defensive

JMEE
3.6%
IWM
2.0%

Utilities

JMEE
2.1%
IWM
3.1%

Communication Services

JMEE
1.7%
IWM
1.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

JPMorgan Small & Mid Cap Enhanced Equity ETF

iShares Russell 2000 ETF

Often compared with JMEE:
JMEE vs. FSMDJMEE vs. AVUVJMEE vs. WMTJMEE vs. GRPMJMEE vs. SPMDJMEE vs. SPYJMEE vs. USFR
Often compared with IWM:
IWM vs. SPYIWM vs. VTWOIWM vs. IJRIWM vs. AVUVIWM vs. IWNIWM vs. VOOIWM vs. TNA

Return for Risk

JMEE vs. IWM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
JMEE
JMEE Risk / Return Rank: 7070
Overall Rank
JMEE Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
JMEE Sortino Ratio Rank: 6868
Sortino Ratio Rank
JMEE Omega Ratio Rank: 6161
Omega Ratio Rank
JMEE Calmar Ratio Rank: 8080
Calmar Ratio Rank
JMEE Martin Ratio Rank: 7777
Martin Ratio Rank
IWM
IWM Risk / Return Rank: 6767
Overall Rank
IWM Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
IWM Sortino Ratio Rank: 6464
Sortino Ratio Rank
IWM Omega Ratio Rank: 5757
Omega Ratio Rank
IWM Calmar Ratio Rank: 7575
Calmar Ratio Rank
IWM Martin Ratio Rank: 7373
Martin Ratio Rank
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. IWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Small & Mid Cap Enhanced Equity ETF (JMEE) and iShares Russell 2000 ETF (IWM). 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.

JMEEIWMDifference
Sharpe ratioReturn per unit of total volatility
1.98
2.08

-0.11

Sortino ratioReturn per unit of downside risk
2.84
2.86

-0.02

Omega ratioGain probability vs. loss probability

1.34

1.34

0.00

Calmar ratioReturn relative to maximum drawdown

3.89

3.73

+0.16

Martin ratioReturn relative to average drawdown

13.66

13.18

+0.48

JMEE vs. IWM - Sharpe Ratio Comparison

The current JMEE Sharpe Ratio is 1.98, which is comparable to the IWM Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of JMEE and IWM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

JMEE vs. IWM - Drawdown Comparison

The maximum JMEE drawdown since its inception was -25.40%, smaller than the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for JMEE and IWM.

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Drawdown Indicators

JMEEIWMDifference

Max Drawdown

Largest peak-to-trough decline

-25.40%

-59.05%

+33.65%

Max Drawdown (1Y)

Largest decline over 1 year

-8.24%

-11.03%

+2.79%

Max Drawdown (3Y)

Largest decline over 3 years

-25.40%

-27.50%

+2.10%

Max Drawdown (5Y)

Largest decline over 5 years

—

-31.91%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-41.13%

—

Current Drawdown

Current decline from peak

-0.87%

-0.96%

+0.09%

Average Drawdown

Average peak-to-trough decline

-5.33%

-10.75%

+5.42%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.34%

3.11%

-0.77%

Volatility

JMEE vs. IWM - Volatility Comparison

The current volatility for JPMorgan Small & Mid Cap Enhanced Equity ETF (JMEE) is 4.77%, while iShares Russell 2000 ETF (IWM) has a volatility of 6.56%. This indicates that JMEE experiences smaller price fluctuations and is considered to be less risky than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

JMEEIWMDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.77%

6.56%

-1.79%

Volatility (6M)

Calculated over the trailing 6-month period

11.70%

14.31%

-2.61%

Volatility (1Y)

Calculated over the trailing 1-year period

16.24%

19.74%

-3.50%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.49%

22.61%

-3.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.49%

23.06%

-3.57%

JMEE vs. IWM - Expense Ratio Comparison

JMEE has a 0.24% expense ratio, which is higher than IWM's 0.19% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

JMEE vs. IWM - Dividend Comparison

JMEE's dividend yield for the trailing twelve months is around 0.95%, more than IWM's 0.90% yield.

PositionTTM20252024202320222021202020192018201720162015
IWM
iShares Russell 2000 ETF		0.90%1.04%1.15%1.35%1.48%0.94%1.04%1.26%1.40%1.26%1.38%1.54%
JMEE
JPMorgan Small & Mid Cap Enhanced Equity ETF		0.95%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

With a correlation of 0.94, JMEE and IWM 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.

IWM has higher volatility (6.56%) compared to JMEE (4.77%). In terms of maximum drawdown, JMEE dropped -25.40% vs IWM's -59.05%.

On 3-year performance, IWM leads with 19.22% vs 17.77% for JMEE. On fees, IWM is cheaper at 0.19% per year. On volatility, JMEE has been the lower-risk option at 4.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, IWM has performed better with a 19.22% return vs 17.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IWM is cheaper with a 0.19% expense ratio, compared with 0.24% for JMEE.

JMEE has the higher dividend yield at 0.95%, compared with 0.90% for IWM.

They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.24% for JMEE and 0.19% for IWM.

IWM currently has the higher Sharpe Ratio (2.08 vs 1.98), 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.

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