JMEE vs. USFR

Last updated Jun 4, 2026

JMEE (JPMorgan Small & Mid Cap Enhanced Equity ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - JMEE is a Small Cap Blend Equities fund actively managed by JPMorgan, while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. JMEE is actively managed, while USFR is passively managed. Over the past 3 years, JMEE returned 17.37%/yr vs 4.76%/yr for USFR. At a correlation of -0.03, they often move in opposite directions. JMEE charges 0.24%/yr vs 0.15%/yr for USFR.

Performance

JMEE vs. USFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Small & Mid Cap Enhanced Equity ETF (JMEE) and WisdomTree Floating Rate Treasury Fund (USFR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JMEE achieves a 16.40% return, which is significantly higher than USFR's 1.60% return.

JMEE

• 1D: -0.27%
• 1M: 3.29%
• YTD: 16.40%
• 6M: 16.48%
• 1Y: 31.14%
• 3Y*: 17.37%
• 5Y*: —
• 10Y*: —

USFR

• 1D: 0.02%
• 1M: 0.29%
• YTD: 1.60%
• 6M: 1.98%
• 1Y: 4.03%
• 3Y*: 4.76%
• 5Y*: 3.66%
• 10Y*: 2.47%

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

JMEE vs. USFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JMEE JPMorgan Small & Mid Cap Enhanced Equity ETF	16.40%	7.65%	13.65%	18.12%	1.37%
USFR WisdomTree Floating Rate Treasury Fund	1.60%	4.23%	5.47%	5.18%	1.55%

Correlation

The correlation between JMEE and USFR is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (All Time) Calculated using the full available price history since May 10, 2022	-0.03

Return for Risk

JMEE vs. USFR — Risk / Return Rank

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

JMEE

JMEE Risk / Return Rank: 64
JMEE Sharpe Ratio Rank: 58
JMEE Sortino Ratio Rank: 60
JMEE Omega Ratio Rank: 56
JMEE Calmar Ratio Rank: 75
JMEE Martin Ratio Rank: 72

USFR

USFR Risk / Return Rank: 100
USFR Sharpe Ratio Rank: 100
USFR Sortino Ratio Rank: 100
USFR Omega Ratio Rank: 100
USFR Calmar Ratio Rank: 100
USFR Martin Ratio Rank: 100

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. USFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Small & Mid Cap Enhanced Equity ETF (JMEE) and WisdomTree Floating Rate Treasury Fund (USFR). 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	USFR	Difference
Sharpe ratio Return per unit of total volatility	1.97	15.11	-13.14
Sortino ratio Return per unit of downside risk	2.83	50.64	-47.81
Omega ratio Gain probability vs. loss probability	1.35	13.43	-12.09
Calmar ratio Return relative to maximum drawdown	3.80	203.42	-199.62
Martin ratio Return relative to average drawdown	13.32	787.84	-774.52
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. USFR - Sharpe Ratio Comparison

The current JMEE Sharpe Ratio is 1.97, which is lower than the USFR Sharpe Ratio of 15.11. The chart below compares the historical Sharpe Ratios of JMEE and USFR, 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	USFR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.97	15.11	-13.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	9.26	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	3.07	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	1.60	-0.88

Drawdowns

JMEE vs. USFR - Drawdown Comparison

The maximum JMEE drawdown since its inception was -25.40%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for JMEE and USFR.

Drawdown Indicators

	JMEE	USFR	Difference
Max Drawdown Largest peak-to-trough decline	-25.40%	-1.36%	-24.04%
Max Drawdown (1Y) Largest decline over 1 year	-8.24%	-0.02%	-8.22%
Max Drawdown (3Y) Largest decline over 3 years	-25.40%	-0.06%	-25.34%
Max Drawdown (5Y) Largest decline over 5 years	—	-0.18%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-0.80%	—
Current Drawdown Current decline from peak	-0.27%	0.00%	-0.27%
Average Drawdown Average peak-to-trough decline	-5.39%	-0.16%	-5.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.34%	0.01%	+2.33%

Volatility

JMEE vs. USFR - Volatility Comparison

JPMorgan Small & Mid Cap Enhanced Equity ETF (JMEE) has a higher volatility of 4.45% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.06%. This indicates that JMEE's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JMEE	USFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.45%	0.06%	+4.39%
Volatility (6M) Calculated over the trailing 6-month period	11.26%	0.18%	+11.08%
Volatility (1Y) Calculated over the trailing 1-year period	15.90%	0.27%	+15.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.50%	0.40%	+19.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.50%	0.81%	+18.69%

JMEE vs. USFR - Expense Ratio Comparison

JMEE has a 0.24% expense ratio, which is higher than USFR's 0.15% 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. USFR - Dividend Comparison

JMEE's dividend yield for the trailing twelve months is around 0.97%, less than USFR's 3.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
JMEE JPMorgan Small & Mid Cap Enhanced Equity ETF	0.97%	1.13%	0.95%	1.25%	6.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USFR WisdomTree Floating Rate Treasury Fund	3.91%	4.15%	5.17%	5.12%	1.78%	0.01%	0.40%	2.08%	1.67%	1.03%	0.29%

Frequently Asked Questions

Can I hold both JMEE and USFR in my portfolio?

JMEE and USFR have a correlation of -0.13, 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 USFR?

JMEE has higher volatility (4.45%) compared to USFR (0.06%). In terms of maximum drawdown, JMEE dropped -25.40% vs USFR's -1.36%.

Which ETF is better, JMEE or USFR?

On 3-year performance, JMEE leads with 17.37% vs 4.76% for USFR. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JMEE or USFR?

Over the 3-year period, JMEE has performed better with a 17.37% return vs 4.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JMEE or USFR?

USFR is cheaper with a 0.15% expense ratio, compared with 0.24% for JMEE.

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

USFR has the higher dividend yield at 3.91%, compared with 0.97% for JMEE.

What is the main difference between JMEE and USFR?

JMEE is categorized as Small Cap Blend Equities, while USFR is Government Bonds. They also come from different issuers: JPMorgan and WisdomTree. Their fees differ too: 0.24% for JMEE and 0.15% for USFR.

Which has better risk-adjusted returns?

USFR currently has the higher Sharpe Ratio (15.11 vs 1.97), 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.