JPEF vs. AFOS

Last updated Jun 4, 2026

JPEF (JPMorgan Equity Focus ETF) and AFOS (ARS Focused Opportunities Strategy ETF) are both Large Cap Blend Equities funds. A 0.77 correlation means they provide meaningful diversification when combined. JPEF charges 0.50%/yr vs 0.45%/yr for AFOS.

Performance

JPEF vs. AFOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Focus ETF (JPEF) and ARS Focused Opportunities Strategy ETF (AFOS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPEF achieves a 7.80% return, which is significantly lower than AFOS's 32.04% return.

JPEF

• 1D: -0.61%
• 1M: 3.38%
• YTD: 7.80%
• 6M: 7.01%
• 1Y: 19.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AFOS

• 1D: -0.29%
• 1M: 8.94%
• YTD: 32.04%
• 6M: 37.37%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JPEF vs. AFOS - Yearly Performance Comparison

	2026 (YTD)	2025
JPEF JPMorgan Equity Focus ETF	7.80%	8.36%
AFOS ARS Focused Opportunities Strategy ETF	32.04%	36.15%

Correlation

The correlation between JPEF and AFOS is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 27, 2025	0.77

Return for Risk

JPEF vs. AFOS — Risk / Return Rank

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

JPEF

JPEF Risk / Return Rank: 51
JPEF Sharpe Ratio Rank: 49
JPEF Sortino Ratio Rank: 49
JPEF Omega Ratio Rank: 50
JPEF Calmar Ratio Rank: 48
JPEF Martin Ratio Rank: 60

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.

JPEF vs. AFOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Focus ETF (JPEF) and ARS Focused Opportunities Strategy ETF (AFOS). 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.

	JPEF	AFOS	Difference
Sharpe ratio: Return per unit of total volatility	1.72	—	—
Sortino ratio: Return per unit of downside risk	2.43	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	2.36	—	—
Martin ratio: Return relative to average drawdown	10.68	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	JPEF	AFOS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.72	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.27	4.35	-3.08

Drawdowns

JPEF vs. AFOS - Drawdown Comparison

The maximum JPEF drawdown since its inception was -18.09%, which is greater than AFOS's maximum drawdown of -11.52%. Use the drawdown chart below to compare losses from any high point for JPEF and AFOS.

Drawdown Indicators

	JPEF	AFOS	Difference
Max Drawdown Largest peak-to-trough decline	-18.09%	-11.52%	-6.57%
Max Drawdown (1Y) Largest decline over 1 year	-8.25%	—	—
Current Drawdown Current decline from peak	-0.81%	-0.29%	-0.52%
Average Drawdown Average peak-to-trough decline	-2.15%	-1.37%	-0.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.82%	—	—

Volatility

Volatility by Period

	JPEF	AFOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.01%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.64%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.38%	20.19%	-8.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.02%	20.19%	-5.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.02%	20.19%	-5.17%

JPEF vs. AFOS - Expense Ratio Comparison

JPEF has a 0.50% expense ratio, which is higher than AFOS's 0.45% expense ratio.

Dividends

JPEF vs. AFOS - Dividend Comparison

JPEF's dividend yield for the trailing twelve months is around 0.65%, more than AFOS's 0.22% yield.

Position	TTM	2025	2024	2023
AFOS ARS Focused Opportunities Strategy ETF	0.22%	0.30%	0.00%	0.00%
JPEF JPMorgan Equity Focus ETF	0.65%	0.70%	0.71%	0.39%

Frequently Asked Questions

Can I hold both JPEF and AFOS in my portfolio?

JPEF and AFOS have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JPEF or AFOS?

On fees, AFOS is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JPEF or AFOS?

AFOS is cheaper with a 0.45% expense ratio, compared with 0.50% for JPEF.

Which ETF pays a higher dividend yield, JPEF or AFOS?

JPEF has the higher dividend yield at 0.65%, compared with 0.22% for AFOS.

What is the main difference between JPEF and AFOS?

They also come from different issuers: JPMorgan and ARS Investment Partners. Their fees differ too: 0.50% for JPEF and 0.45% for AFOS.