JPEF vs. BBUS

Last updated Aug 2, 2026

JPEF (JPMorgan Equity Focus ETF) and BBUS (JPMorgan BetaBuilders U.S. Equity ETF) are both Large Cap Blend Equities funds from JPMorgan. JPEF is actively managed, while BBUS is passively managed. Over the past 3 years, JPEF returned 17.71%/yr vs 19.31%/yr for BBUS. Their 0.96 correlation means they have historically moved very closely together. JPEF charges 0.50%/yr vs 0.02%/yr for BBUS.

Performance

JPEF vs. BBUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Focus ETF (JPEF) and JPMorgan BetaBuilders U.S. Equity ETF (BBUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPEF achieves a 7.28% return, which is significantly lower than BBUS's 9.70% return.

JPEF

• 1D: 1.05%
• 1M: 0.24%
• 6M: 5.98%
• YTD: 7.28%
• 1Y: 15.49%
• 3Y*: 17.71%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.66%

BBUS

• 1D: 0.73%
• 1M: 0.21%
• 6M: 8.38%
• YTD: 9.70%
• 1Y: 20.80%
• 3Y*: 19.31%
• 5Y*: 12.29%
• 10Y*: —
• ALL TIME*: 15.77%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BBUS JPMorgan BetaBuilders U.S. Equity ETF	$26.56M	$23.62M	$29.53M
JPEF JPMorgan Equity Focus ETF	$8.69M	$8.49M	$7.43M

JPEF vs. BBUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JPEF JPMorgan Equity Focus ETF	7.28%	12.07%	28.19%	5.70%
BBUS JPMorgan BetaBuilders U.S. Equity ETF	9.70%	17.77%	24.89%	5.19%

Correlation

The correlation between JPEF and BBUS is 0.95 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.95
Correlation (3Y) Balances recent behavior with more history.	0.96
Correlation (All Time) Calculated using the full available price history since Jul 31, 2023	0.96

The correlation between JPEF and BBUS has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

JPEF vs. BBUS - Sectors Allocation Comparison

Sectors	JPEF	BBUS
Technology	34.7%	38.7%
Financial Services	13.6%	11.6%
Consumer Cyclical	9.9%	9.4%
Industrials	9.1%	8.6%
Communication Services	8.5%	9.9%
Healthcare	8.5%	8.9%
Energy	5.1%	3.0%
Real Estate	2.6%	1.7%
Utilities	2.6%	2.2%
Basic Materials	2.2%	1.6%
Consumer Defensive	1.7%	4.4%

Return for Risk

JPEF vs. BBUS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JPEF

JPEF Risk / Return Rank: 47
JPEF Sharpe Ratio Rank: 44
JPEF Sortino Ratio Rank: 43
JPEF Omega Ratio Rank: 43
JPEF Calmar Ratio Rank: 46
JPEF Martin Ratio Rank: 57

BBUS

BBUS Risk / Return Rank: 63
BBUS Sharpe Ratio Rank: 63
BBUS Sortino Ratio Rank: 61
BBUS Omega Ratio Rank: 62
BBUS Calmar Ratio Rank: 58
BBUS Martin Ratio Rank: 70

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JPEF vs. BBUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Focus ETF (JPEF) and JPMorgan BetaBuilders U.S. Equity ETF (BBUS). 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.

	JPEF	BBUS	Difference
Sharpe ratio: Return per unit of total volatility	1.09	1.47	-0.38
Sortino ratio: Return per unit of downside risk	1.58	2.04	-0.47
Omega ratio: Gain probability vs. loss probability	1.20	1.26	-0.06
Calmar ratio: Return relative to maximum drawdown	1.65	2.05	-0.40
Martin ratio: Return relative to average drawdown	6.78	8.63	-1.85

JPEF vs. BBUS - Sharpe Ratio Comparison

The current JPEF Sharpe Ratio is 1.09, which is comparable to the BBUS Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of JPEF and BBUS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JPEF vs. BBUS - Drawdown Comparison

The maximum JPEF drawdown since its inception was -18.09%, smaller than the maximum BBUS drawdown of -35.35%. Use the drawdown chart below to compare losses from any high point for JPEF and BBUS.

Drawdown Indicators

	JPEF	BBUS	Difference
Max Drawdown Largest peak-to-trough decline	-18.09%	-35.35%	+17.26%
Max Drawdown (1Y) Largest decline over 1 year	-8.25%	-9.21%	+0.96%
Max Drawdown (3Y) Largest decline over 3 years	-18.09%	-19.01%	+0.92%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.46%	—
Current Drawdown Current decline from peak	-1.36%	-1.55%	+0.19%
Average Drawdown Average peak-to-trough decline	-2.13%	-5.38%	+3.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	2.19%	-0.19%

Volatility

JPEF vs. BBUS - Volatility Comparison

JPMorgan Equity Focus ETF (JPEF) has a higher volatility of 3.96% compared to JPMorgan BetaBuilders U.S. Equity ETF (BBUS) at 3.54%. This indicates that JPEF's price experiences larger fluctuations and is considered to be riskier than BBUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPEF	BBUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	3.54%	+0.42%
Volatility (6M) Calculated over the trailing 6-month period	9.89%	10.14%	-0.25%
Volatility (1Y) Calculated over the trailing 1-year period	12.52%	12.89%	-0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.02%	17.15%	-2.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.02%	19.50%	-4.48%

JPEF vs. BBUS - Expense Ratio Comparison

JPEF has a 0.50% expense ratio, which is higher than BBUS's 0.02% expense ratio.

Dividends

JPEF vs. BBUS - Dividend Comparison

JPEF's dividend yield for the trailing twelve months is around 0.65%, less than BBUS's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BBUS JPMorgan BetaBuilders U.S. Equity ETF	1.01%	1.07%	1.21%	1.38%	1.57%	1.11%	1.43%	1.37%
JPEF JPMorgan Equity Focus ETF	0.65%	0.70%	0.71%	0.39%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JPEF and BBUS in my portfolio?

With a correlation of 0.95, JPEF and BBUS 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.

Which is riskier, JPEF or BBUS?

JPEF has higher volatility (3.96%) compared to BBUS (3.54%). In terms of maximum drawdown, JPEF dropped -18.09% vs BBUS's -35.35%.

Which ETF is better, JPEF or BBUS?

On 3-year performance, BBUS leads with 19.31% vs 17.71% for JPEF. On fees, BBUS is cheaper at 0.02% per year. On volatility, BBUS has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPEF or BBUS?

Over the 3-year period, BBUS has performed better with a 19.31% return vs 17.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPEF or BBUS?

BBUS is cheaper with a 0.02% expense ratio, compared with 0.50% for JPEF.

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

BBUS has the higher dividend yield at 1.01%, compared with 0.65% for JPEF.

What is the main difference between JPEF and BBUS?

Their fees differ too: 0.50% for JPEF and 0.02% for BBUS.

Which has better risk-adjusted returns?

BBUS currently has the higher Sharpe Ratio (1.47 vs 1.09), 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.