JPME vs. LSAF

Last updated Aug 2, 2026

JPME (JPMorgan Diversified Return US Mid Cap Equity ETF) and LSAF (LeaderShares AlphaFactor US Core Equity ETF) are both Mid Cap Blend Equities funds - JPME tracks the JPMorgan Diversified Factor US Mid Cap Equity Index while LSAF tracks the AlphaFactor US Core Equity Index. Both are passively managed. Over the past 5 years, JPME returned 9.16%/yr vs 10.90%/yr for LSAF. Their correlation of 0.92 means they have usually moved in the same direction. JPME charges 0.24%/yr vs 0.75%/yr for LSAF.

Performance

JPME vs. LSAF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Diversified Return US Mid Cap Equity ETF (JPME) and LeaderShares AlphaFactor US Core Equity ETF (LSAF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPME achieves a 16.67% return, which is significantly lower than LSAF's 19.96% return.

JPME

• 1D: -0.28%
• 1M: 0.81%
• 6M: 11.90%
• YTD: 16.67%
• 1Y: 23.94%
• 3Y*: 13.70%
• 5Y*: 9.16%
• 10Y*: 11.02%
• ALL TIME*: 11.44%

LSAF

• 1D: -0.55%
• 1M: 2.49%
• 6M: 17.23%
• YTD: 19.96%
• 1Y: 30.03%
• 3Y*: 18.58%
• 5Y*: 10.90%
• 10Y*: —
• ALL TIME*: 11.02%

*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)
JPME JPMorgan Diversified Return US Mid Cap Equity ETF	$970.37K	$1.56M	$1.48M
LSAF LeaderShares AlphaFactor US Core Equity ETF	$265.84K	$205.64K	$201.86K

JPME vs. LSAF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
JPME JPMorgan Diversified Return US Mid Cap Equity ETF	16.67%	8.26%	13.55%	11.28%	-10.12%	28.90%	8.46%	25.87%	-14.44%
LSAF LeaderShares AlphaFactor US Core Equity ETF	19.96%	12.01%	18.09%	15.48%	-13.12%	22.75%	6.92%	28.35%	-15.47%

Correlation

The correlation between JPME and LSAF is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (3Y) Balances recent behavior with more history.	0.91
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (All Time) Calculated using the full available price history since Oct 2, 2018	0.92

The correlation between JPME and LSAF has been stable across timeframes, ranging from 0.85 to 0.92 - a consistent structural relationship.

JPME vs. LSAF - Sectors Allocation Comparison

Sectors	JPME	LSAF
Healthcare	11.7%	7.8%
Real Estate	11.6%	2.1%
Utilities	10.1%	0.9%
Consumer Defensive	9.9%	4.1%
Industrials	9.4%	10.7%
Technology	9.2%	15.4%
Financial Services	9.0%	16.2%
Consumer Cyclical	8.6%	19.9%
Basic Materials	7.8%	5.8%
Energy	7.6%	3.3%
Communication Services	3.5%	4.7%

Return for Risk

JPME vs. LSAF — Risk / Return Rank

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

JPME

JPME Risk / Return Rank: 85
JPME Sharpe Ratio Rank: 83
JPME Sortino Ratio Rank: 85
JPME Omega Ratio Rank: 80
JPME Calmar Ratio Rank: 86
JPME Martin Ratio Rank: 87

LSAF

LSAF Risk / Return Rank: 88
LSAF Sharpe Ratio Rank: 85
LSAF Sortino Ratio Rank: 87
LSAF Omega Ratio Rank: 82
LSAF Calmar Ratio Rank: 93
LSAF Martin Ratio Rank: 91

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.

JPME vs. LSAF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Diversified Return US Mid Cap Equity ETF (JPME) and LeaderShares AlphaFactor US Core Equity ETF (LSAF). 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.

	JPME	LSAF	Difference
Sharpe ratio: Return per unit of total volatility	1.94	2.03	-0.08
Sortino ratio: Return per unit of downside risk	2.84	2.98	-0.14
Omega ratio: Gain probability vs. loss probability	1.34	1.35	-0.01
Calmar ratio: Return relative to maximum drawdown	3.37	4.41	-1.04
Martin ratio: Return relative to average drawdown	12.90	14.86	-1.96

JPME vs. LSAF - Sharpe Ratio Comparison

The current JPME Sharpe Ratio is 1.94, which is comparable to the LSAF Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of JPME and LSAF, 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

JPME vs. LSAF - Drawdown Comparison

The maximum JPME drawdown since its inception was -41.01%, roughly equal to the maximum LSAF drawdown of -41.67%. Use the drawdown chart below to compare losses from any high point for JPME and LSAF.

Drawdown Indicators

	JPME	LSAF	Difference
Max Drawdown Largest peak-to-trough decline	-41.01%	-41.67%	+0.66%
Max Drawdown (1Y) Largest decline over 1 year	-6.84%	-6.58%	-0.26%
Max Drawdown (3Y) Largest decline over 3 years	-18.70%	-20.26%	+1.56%
Max Drawdown (5Y) Largest decline over 5 years	-19.30%	-24.94%	+5.64%
Max Drawdown (10Y) Largest decline over 10 years	-41.01%	—	—
Current Drawdown Current decline from peak	-1.11%	-1.48%	+0.37%
Average Drawdown Average peak-to-trough decline	-4.33%	-6.21%	+1.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	1.95%	-0.17%

Volatility

JPME vs. LSAF - Volatility Comparison

The current volatility for JPMorgan Diversified Return US Mid Cap Equity ETF (JPME) is 2.67%, while LeaderShares AlphaFactor US Core Equity ETF (LSAF) has a volatility of 4.21%. This indicates that JPME experiences smaller price fluctuations and is considered to be less risky than LSAF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPME	LSAF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.67%	4.21%	-1.54%
Volatility (6M) Calculated over the trailing 6-month period	8.52%	10.49%	-1.97%
Volatility (1Y) Calculated over the trailing 1-year period	11.87%	14.36%	-2.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.07%	18.38%	-2.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.63%	21.73%	-4.10%

JPME vs. LSAF - Expense Ratio Comparison

JPME has a 0.24% expense ratio, which is lower than LSAF's 0.75% expense ratio.

Dividends

JPME vs. LSAF - Dividend Comparison

JPME's dividend yield for the trailing twelve months is around 1.74%, more than LSAF's 0.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
JPME JPMorgan Diversified Return US Mid Cap Equity ETF	1.74%	2.03%	1.77%	1.84%	1.84%	1.44%	1.51%	1.68%	1.80%	1.17%	0.91%
LSAF LeaderShares AlphaFactor US Core Equity ETF	0.57%	0.69%	0.42%	0.84%	0.96%	0.37%	0.53%	0.71%	0.20%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JPME and LSAF in my portfolio?

JPME and LSAF have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPME or LSAF?

LSAF has higher volatility (4.21%) compared to JPME (2.67%). In terms of maximum drawdown, JPME dropped -41.01% vs LSAF's -41.67%.

Which ETF is better, JPME or LSAF?

On 5-year performance, LSAF leads with 10.90% vs 9.16% for JPME. On fees, JPME is cheaper at 0.24% per year. On volatility, JPME has been the lower-risk option at 2.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPME or LSAF?

Over the 5-year period, LSAF has performed better with a 10.90% return vs 9.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPME or LSAF?

JPME is cheaper with a 0.24% expense ratio, compared with 0.75% for LSAF.

Which ETF pays a higher dividend yield, JPME or LSAF?

JPME has the higher dividend yield at 1.74%, compared with 0.57% for LSAF.

What is the main difference between JPME and LSAF?

JPME tracks JPMorgan Diversified Factor US Mid Cap Equity Index, while LSAF tracks AlphaFactor US Core Equity Index. They also come from different issuers: JPMorgan and Redwood. Their fees differ too: 0.24% for JPME and 0.75% for LSAF.

Which has better risk-adjusted returns?

LSAF currently has the higher Sharpe Ratio (2.03 vs 1.94), 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.