JPEF vs. USMV

Last updated Jul 14, 2026

JPEF (JPMorgan Equity Focus ETF) and USMV (iShares MSCI USA Min Vol Factor ETF) are both Large Cap Blend Equities funds. JPEF is actively managed, while USMV is passively managed. Over the past year, JPEF returned 14.97% vs 7.10% for USMV. A 0.63 correlation means they provide meaningful diversification when combined. JPEF charges 0.50%/yr vs 0.15%/yr for USMV.

Performance

JPEF vs. USMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Focus ETF (JPEF) and iShares MSCI USA Min Vol Factor ETF (USMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPEF achieves a 7.59% return, which is significantly higher than USMV's 4.64% return.

JPEF

• 1D: -0.83%
• 1M: 1.70%
• 6M: 6.46%
• YTD: 7.59%
• 1Y: 14.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USMV

• 1D: 0.06%
• 1M: 2.16%
• 6M: 3.87%
• YTD: 4.64%
• 1Y: 7.10%
• 3Y*: 11.43%
• 5Y*: 7.16%
• 10Y*: 9.58%

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

JPEF vs. USMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JPEF JPMorgan Equity Focus ETF	7.59%	12.07%	28.19%	5.70%
USMV iShares MSCI USA Min Vol Factor ETF	4.64%	7.65%	15.74%	4.58%

Correlation

The correlation between JPEF and USMV is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (All Time) Calculated using the full available price history since Jul 31, 2023	0.63

The correlation between JPEF and USMV shifts across timeframes, from 0.45 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.

JPEF vs. USMV - Sectors Allocation Comparison

Sectors	JPEF	USMV
Technology	33.2%	33.9%
Financial Services	13.2%	11.7%
Consumer Cyclical	11.7%	5.7%
Communication Services	11.3%	6.2%
Industrials	9.2%	6.1%
Healthcare	8.0%	12.6%
Energy	4.7%	2.7%
Utilities	2.5%	6.9%
Real Estate	2.5%	2.5%
Basic Materials	2.1%	2.4%
Consumer Defensive	1.9%	9.4%

Return for Risk

JPEF vs. USMV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments 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: 44
JPEF Calmar Ratio Rank: 45
JPEF Martin Ratio Rank: 57

USMV

USMV Risk / Return Rank: 28
USMV Sharpe Ratio Rank: 29
USMV Sortino Ratio Rank: 26
USMV Omega Ratio Rank: 25
USMV Calmar Ratio Rank: 28
USMV Martin Ratio Rank: 31

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. USMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Focus ETF (JPEF) and iShares MSCI USA Min Vol Factor ETF (USMV). 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	USMV	Difference
Sharpe ratio: Return per unit of total volatility	1.24	0.84	+0.40
Sortino ratio: Return per unit of downside risk	1.79	1.23	+0.55
Omega ratio: Gain probability vs. loss probability	1.23	1.15	+0.08
Calmar ratio: Return relative to maximum drawdown	1.82	1.10	+0.72
Martin ratio: Return relative to average drawdown	7.72	3.61	+4.11

JPEF vs. USMV - Sharpe Ratio Comparison

The current JPEF Sharpe Ratio is 1.24, which is higher than the USMV Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of JPEF and USMV, 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. USMV - Drawdown Comparison

The maximum JPEF drawdown since its inception was -18.09%, smaller than the maximum USMV drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for JPEF and USMV.

Drawdown Indicators

	JPEF	USMV	Difference
Max Drawdown Largest peak-to-trough decline	-18.09%	-33.10%	+15.01%
Max Drawdown (1Y) Largest decline over 1 year	-8.25%	-6.46%	-1.79%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.36%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.93%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.10%	—
Current Drawdown Current decline from peak	-1.01%	-0.54%	-0.47%
Average Drawdown Average peak-to-trough decline	-2.14%	-2.87%	+0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	1.97%	-0.03%

Volatility

JPEF vs. USMV - Volatility Comparison

JPMorgan Equity Focus ETF (JPEF) has a higher volatility of 4.14% compared to iShares MSCI USA Min Vol Factor ETF (USMV) at 2.54%. This indicates that JPEF's price experiences larger fluctuations and is considered to be riskier than USMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPEF	USMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.14%	2.54%	+1.60%
Volatility (6M) Calculated over the trailing 6-month period	9.71%	6.22%	+3.49%
Volatility (1Y) Calculated over the trailing 1-year period	12.11%	8.48%	+3.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.03%	12.36%	+2.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.03%	14.49%	+0.54%

JPEF vs. USMV - Expense Ratio Comparison

JPEF has a 0.50% expense ratio, which is higher than USMV's 0.15% expense ratio.

Dividends

JPEF vs. USMV - Dividend Comparison

JPEF's dividend yield for the trailing twelve months is around 0.65%, less than USMV's 1.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JPEF JPMorgan Equity Focus ETF	0.65%	0.70%	0.71%	0.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USMV iShares MSCI USA Min Vol Factor ETF	1.48%	1.49%	1.67%	1.82%	1.62%	1.26%	1.81%	1.88%	2.12%	1.77%	2.22%	2.02%

Frequently Asked Questions

Can I hold both JPEF and USMV in my portfolio?

JPEF and USMV have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPEF or USMV?

JPEF has higher volatility (4.14%) compared to USMV (2.54%). In terms of maximum drawdown, JPEF dropped -18.09% vs USMV's -33.10%.

Which ETF is better, JPEF or USMV?

On 1-year performance, JPEF leads with 14.97% vs 7.10% for USMV. On fees, USMV is cheaper at 0.15% per year. On volatility, USMV has been the lower-risk option at 2.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPEF or USMV?

Over the 1-year period, JPEF has performed better with a 14.97% return vs 7.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPEF or USMV?

USMV is cheaper with a 0.15% expense ratio, compared with 0.50% for JPEF.

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

USMV has the higher dividend yield at 1.48%, compared with 0.65% for JPEF.

What is the main difference between JPEF and USMV?

They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.50% for JPEF and 0.15% for USMV.

Which has better risk-adjusted returns?

JPEF currently has the higher Sharpe Ratio (1.24 vs 0.84), 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.