JMMF vs. GNR
JMMF (JPMorgan 100% U.S. Treasury Securities Money Market ETF) and GNR (SPDR S&P Global Natural Resources ETF) are both exchange-traded funds - JMMF is a Money Market fund actively managed by JPMorgan, while GNR is a Natural Resources fund tracking the S&P Global Natural Resources Index. JMMF is actively managed, while GNR is passively managed. Their -0.13 correlation means they have often moved in opposite directions in the past. JMMF charges 0.16%/yr vs 0.40%/yr for GNR.
Performance
JMMF vs. GNR - Performance Comparison
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Returns By Period
In the year-to-date period, JMMF achieves a 2.03% return, which is significantly lower than GNR's 17.86% return.
JMMF
- 1D
- 0.05%
- 1M
- 0.29%
- 6M
- 1.81%
- YTD
- 2.03%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
GNR
- 1D
- -1.07%
- 1M
- 6.50%
- 6M
- 7.47%
- YTD
- 17.86%
- 1Y
- 37.18%
- 3Y*
- 11.94%
- 5Y*
- 10.54%
- 10Y*
- 10.27%
- ALL TIME*
- 5.46%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $12.18M | $15.84M | $18.04M | |
| $727.29K | $634.56K | $536.73K |
JMMF vs. GNR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
JMMF JPMorgan 100% U.S. Treasury Securities Money Market ETF | 2.03% | 0.17% |
GNR SPDR S&P Global Natural Resources ETF | 17.86% | 1.94% |
Correlation
The correlation between JMMF and GNR is -0.13, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025 | -0.13 |
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Return for Risk
JMMF vs. GNR — Risk / Return Rank
JMMF
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
GNR
JMMF vs. GNR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan 100% U.S. Treasury Securities Money Market ETF (JMMF) and SPDR S&P Global Natural Resources ETF (GNR). 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.
| JMMF | GNR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.38 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.33 | — |
| Martin ratioReturn relative to average drawdown | — | 10.62 | — |
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Drawdowns
JMMF vs. GNR - Drawdown Comparison
The maximum JMMF drawdown since its inception was -0.14%, smaller than the maximum GNR drawdown of -51.37%. Use the drawdown chart below to compare losses from any high point for JMMF and GNR.
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Drawdown Indicators
| JMMF | GNR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.14% | -51.37% | +51.23% |
Max Drawdown (1Y)Largest decline over 1 year | — | -10.99% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -21.15% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.66% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.59% | — |
Current DrawdownCurrent decline from peak | 0.00% | -3.48% | +3.48% |
Average DrawdownAverage peak-to-trough decline | -0.01% | -14.87% | +14.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.44% | — |
Volatility
JMMF vs. GNR - Volatility Comparison
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Volatility by Period
| JMMF | GNR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.33% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 14.05% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.50% | 17.13% | -16.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.50% | 20.19% | -19.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.50% | 21.77% | -21.27% |
JMMF vs. GNR - Expense Ratio Comparison
JMMF has a 0.16% expense ratio, which is lower than GNR's 0.40% expense ratio.
Dividends
JMMF vs. GNR - Dividend Comparison
JMMF's dividend yield for the trailing twelve months is around 2.20%, less than GNR's 2.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GNR SPDR S&P Global Natural Resources ETF | 2.52% | 2.76% | 4.73% | 3.37% | 4.37% | 3.44% | 2.78% | 3.84% | 3.51% | 2.40% | 2.06% | 4.59% |
JMMF JPMorgan 100% U.S. Treasury Securities Money Market ETF | 2.20% | 0.20% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JMMF and GNR 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.
On fees, JMMF is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JMMF is cheaper with a 0.16% expense ratio, compared with 0.40% for GNR.
GNR has the higher dividend yield at 2.52%, compared with 2.20% for JMMF.
JMMF is categorized as Money Market, while GNR is Natural Resources. They also come from different issuers: JPMorgan and State Street. Their fees differ too: 0.16% for JMMF and 0.40% for GNR.
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