JPEF vs. VOO

Last updated Jun 24, 2026

JPEF (JPMorgan Equity Focus ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - JPEF is a Large Cap Blend Equities fund actively managed by JPMorgan, while VOO is a S&P 500 fund tracking the S&P 500 Index. JPEF is actively managed, while VOO is passively managed. Over the past year, JPEF returned 16.18% vs 23.69% for VOO. With a 0.96 correlation, they move nearly in lockstep. JPEF charges 0.50%/yr vs 0.03%/yr for VOO.

Performance

JPEF vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Focus ETF (JPEF) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPEF achieves a 5.24% return, which is significantly lower than VOO's 8.19% return.

JPEF

• 1D: -1.55%
• 1M: -1.55%
• YTD: 5.24%
• 6M: 4.30%
• 1Y: 16.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VOO

• 1D: -1.42%
• 1M: -1.34%
• YTD: 8.19%
• 6M: 7.24%
• 1Y: 23.69%
• 3Y*: 20.78%
• 5Y*: 13.13%
• 10Y*: 15.61%

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

JPEF vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JPEF JPMorgan Equity Focus ETF	5.24%	12.07%	28.19%	5.70%
VOO Vanguard S&P 500 ETF	8.19%	17.82%	24.98%	4.86%

Correlation

The correlation between JPEF and VOO is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jul 31, 2023	0.96

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

JPEF vs. VOO - Sectors Allocation Comparison

Sectors	JPEF	VOO
Technology	33.2%	39.1%
Financial Services	13.2%	10.9%
Consumer Cyclical	11.7%	9.8%
Communication Services	11.3%	10.5%
Industrials	9.2%	7.6%
Healthcare	8.0%	8.3%
Energy	4.7%	3.2%
Utilities	2.5%	2.5%
Real Estate	2.5%	1.8%
Basic Materials	2.1%	1.7%
Consumer Defensive	1.9%	4.5%

Return for Risk

JPEF vs. VOO — Risk / Return Rank

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

JPEF

JPEF Risk / Return Rank: 43
JPEF Sharpe Ratio Rank: 41
JPEF Sortino Ratio Rank: 39
JPEF Omega Ratio Rank: 41
JPEF Calmar Ratio Rank: 41
JPEF Martin Ratio Rank: 52

VOO

VOO Risk / Return Rank: 59
VOO Sharpe Ratio Rank: 59
VOO Sortino Ratio Rank: 56
VOO Omega Ratio Rank: 58
VOO Calmar Ratio Rank: 56
VOO Martin Ratio Rank: 67

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. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Focus ETF (JPEF) and Vanguard S&P 500 ETF (VOO). 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	VOO	Difference
Sharpe ratio: Return per unit of total volatility	1.35	1.91	-0.56
Sortino ratio: Return per unit of downside risk	1.92	2.60	-0.68
Omega ratio: Gain probability vs. loss probability	1.25	1.35	-0.10
Calmar ratio: Return relative to maximum drawdown	1.97	2.67	-0.70
Martin ratio: Return relative to average drawdown	8.51	11.96	-3.45

JPEF vs. VOO - Sharpe Ratio Comparison

The current JPEF Sharpe Ratio is 1.35, which is comparable to the VOO Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of JPEF and VOO, 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. VOO - Drawdown Comparison

The maximum JPEF drawdown since its inception was -18.09%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for JPEF and VOO.

Drawdown Indicators

	JPEF	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-18.09%	-33.99%	+15.90%
Max Drawdown (1Y) Largest decline over 1 year	-8.25%	-8.90%	+0.65%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.69%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.52%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.99%	—
Current Drawdown Current decline from peak	-3.17%	-3.14%	-0.03%
Average Drawdown Average peak-to-trough decline	-2.15%	-3.68%	+1.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	1.99%	-0.08%

Volatility

JPEF vs. VOO - Volatility Comparison

JPMorgan Equity Focus ETF (JPEF) and Vanguard S&P 500 ETF (VOO) have volatilities of 4.67% and 4.83%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPEF	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.67%	4.83%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	9.55%	9.82%	-0.27%
Volatility (1Y) Calculated over the trailing 1-year period	12.06%	12.46%	-0.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.11%	16.91%	-1.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.11%	18.02%	-2.91%

JPEF vs. VOO - Expense Ratio Comparison

JPEF has a 0.50% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

JPEF vs. VOO - Dividend Comparison

JPEF's dividend yield for the trailing twelve months is around 0.67%, less than VOO's 1.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JPEF JPMorgan Equity Focus ETF	0.67%	0.70%	0.71%	0.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.05%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both JPEF and VOO in my portfolio?

With a correlation of 0.95, JPEF and VOO 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 VOO?

VOO has higher volatility (4.83%) compared to JPEF (4.67%). In terms of maximum drawdown, JPEF dropped -18.09% vs VOO's -33.99%.

Which ETF is better, JPEF or VOO?

On 1-year performance, VOO leads with 23.69% vs 16.18% for JPEF. On fees, VOO is cheaper at 0.03% per year. On volatility, JPEF has been the lower-risk option at 4.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPEF or VOO?

Over the 1-year period, VOO has performed better with a 23.69% return vs 16.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPEF or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.50% for JPEF.

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

VOO has the higher dividend yield at 1.05%, compared with 0.67% for JPEF.

What is the main difference between JPEF and VOO?

JPEF is categorized as Large Cap Blend Equities, while VOO is S&P 500. They also come from different issuers: JPMorgan and Vanguard. Their fees differ too: 0.50% for JPEF and 0.03% for VOO.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (1.91 vs 1.35), 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.