JPME vs. RWK

Last updated Jun 3, 2026

JPME (JPMorgan Diversified Return US Mid Cap Equity ETF) and RWK (Invesco S&P MidCap 400 Revenue ETF) are both exchange-traded funds - JPME is a Mid Cap Blend Equities fund tracking the JPMorgan Diversified Factor US Mid Cap Equity Index, while RWK is a Small Cap Blend Equities fund tracking the S&P MidCap 400 Revenue-Weighted Index. Both are passively managed. Over the past 10 years, JPME returned 11.00%/yr vs 12.83%/yr for RWK. Their correlation of 0.91 suggests significant overlap in exposure. JPME charges 0.24%/yr vs 0.39%/yr for RWK.

Performance

JPME vs. RWK - 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 Invesco S&P MidCap 400 Revenue ETF (RWK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with JPME having a 13.26% return and RWK slightly higher at 13.73%. Over the past 10 years, JPME has underperformed RWK with an annualized return of 11.00%, while RWK has yielded a comparatively higher 12.83% annualized return.

JPME

• 1D: 0.93%
• 1M: 1.41%
• YTD: 13.26%
• 6M: 13.96%
• 1Y: 23.45%
• 3Y*: 15.36%
• 5Y*: 8.68%
• 10Y*: 11.00%

RWK

• 1D: 1.10%
• 1M: 3.22%
• YTD: 13.73%
• 6M: 14.17%
• 1Y: 30.18%
• 3Y*: 18.14%
• 5Y*: 10.78%
• 10Y*: 12.83%

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

JPME vs. RWK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JPME JPMorgan Diversified Return US Mid Cap Equity ETF	13.26%	8.26%	13.55%	11.28%	-10.12%	28.90%	8.46%	25.87%	-8.92%	19.09%
RWK Invesco S&P MidCap 400 Revenue ETF	13.73%	10.27%	11.94%	23.76%	-8.19%	34.31%	11.06%	28.20%	-14.65%	13.39%

Correlation

The correlation between JPME and RWK is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since May 19, 2016	0.91

The correlation between JPME and RWK has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

JPME vs. RWK - Sectors Allocation Comparison

Sectors	JPME	RWK
Technology	12.0%	14.0%
Real Estate	11.5%	2.8%
Industrials	11.5%	21.8%
Healthcare	10.7%	4.0%
Consumer Defensive	9.6%	11.3%
Utilities	9.4%	1.6%
Consumer Cyclical	8.8%	20.7%
Financial Services	8.1%	13.1%
Energy	7.8%	5.3%
Basic Materials	7.0%	4.7%
Communication Services	3.6%	0.7%

Return for Risk

JPME vs. RWK — Risk / Return Rank

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

JPME

JPME Risk / Return Rank: 61
JPME Sharpe Ratio Rank: 57
JPME Sortino Ratio Rank: 59
JPME Omega Ratio Rank: 54
JPME Calmar Ratio Rank: 67
JPME Martin Ratio Rank: 68

RWK

RWK Risk / Return Rank: 52
RWK Sharpe Ratio Rank: 52
RWK Sortino Ratio Rank: 56
RWK Omega Ratio Rank: 50
RWK Calmar Ratio Rank: 52
RWK Martin Ratio Rank: 49

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.

JPME vs. RWK - 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 Invesco S&P MidCap 400 Revenue ETF (RWK). 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.

	JPME	RWK	Difference
Sharpe ratio Return per unit of total volatility	1.95	1.82	+0.14
Sortino ratio Return per unit of downside risk	2.83	2.70	+0.13
Omega ratio Gain probability vs. loss probability	1.34	1.31	+0.02
Calmar ratio Return relative to maximum drawdown	3.40	2.62	+0.78
Martin ratio Return relative to average drawdown	12.67	8.44	+4.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPME vs. RWK - Sharpe Ratio Comparison

The current JPME Sharpe Ratio is 1.95, which is comparable to the RWK Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of JPME and RWK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JPME	RWK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.95	1.82	+0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.51	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.56	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.48	+0.16

Drawdowns

JPME vs. RWK - Drawdown Comparison

The maximum JPME drawdown since its inception was -41.01%, smaller than the maximum RWK drawdown of -56.49%. Use the drawdown chart below to compare losses from any high point for JPME and RWK.

Drawdown Indicators

	JPME	RWK	Difference
Max Drawdown Largest peak-to-trough decline	-41.01%	-56.49%	+15.48%
Max Drawdown (1Y) Largest decline over 1 year	-6.84%	-11.14%	+4.30%
Max Drawdown (3Y) Largest decline over 3 years	-18.70%	-24.58%	+5.88%
Max Drawdown (5Y) Largest decline over 5 years	-19.30%	-24.58%	+5.28%
Max Drawdown (10Y) Largest decline over 10 years	-41.01%	-46.20%	+5.19%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.39%	-7.56%	+3.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.84%	3.46%	-1.62%

Volatility

JPME vs. RWK - Volatility Comparison

The current volatility for JPMorgan Diversified Return US Mid Cap Equity ETF (JPME) is 3.49%, while Invesco S&P MidCap 400 Revenue ETF (RWK) has a volatility of 4.93%. This indicates that JPME experiences smaller price fluctuations and is considered to be less risky than RWK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPME	RWK	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.49%	4.93%	-1.44%
Volatility (6M) Calculated over the trailing 6-month period	8.52%	11.87%	-3.35%
Volatility (1Y) Calculated over the trailing 1-year period	12.06%	16.72%	-4.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.15%	21.13%	-4.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.70%	22.96%	-5.26%

JPME vs. RWK - Expense Ratio Comparison

JPME has a 0.24% expense ratio, which is lower than RWK's 0.39% expense ratio.

Dividends

JPME vs. RWK - Dividend Comparison

JPME's dividend yield for the trailing twelve months is around 1.82%, more than RWK's 1.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JPME JPMorgan Diversified Return US Mid Cap Equity ETF	1.82%	2.03%	1.77%	1.84%	1.84%	1.44%	1.51%	1.68%	1.80%	1.17%	0.91%	0.00%
RWK Invesco S&P MidCap 400 Revenue ETF	1.12%	1.25%	1.11%	1.05%	1.18%	0.85%	0.96%	1.09%	1.22%	0.99%	1.30%	0.92%

Frequently Asked Questions

Can I hold both JPME and RWK in my portfolio?

With a correlation of 0.91, JPME and RWK 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, JPME or RWK?

RWK has higher volatility (4.93%) compared to JPME (3.49%). In terms of maximum drawdown, JPME dropped -41.01% vs RWK's -56.49%.

Which ETF is better, JPME or RWK?

On 10-year performance, RWK leads with 12.83% vs 11.00% for JPME. On fees, JPME is cheaper at 0.24% per year. On volatility, JPME has been the lower-risk option at 3.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPME or RWK?

Over the 10-year period, RWK has performed better with a 12.83% return vs 11.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPME or RWK?

JPME is cheaper with a 0.24% expense ratio, compared with 0.39% for RWK.

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

JPME has the higher dividend yield at 1.82%, compared with 1.12% for RWK.

What is the main difference between JPME and RWK?

JPME is categorized as Mid Cap Blend Equities, while RWK is Small Cap Blend Equities. JPME tracks JPMorgan Diversified Factor US Mid Cap Equity Index, while RWK tracks S&P MidCap 400 Revenue-Weighted Index. They also come from different issuers: JPMorgan and Invesco. Their fees differ too: 0.24% for JPME and 0.39% for RWK.

Which has better risk-adjusted returns?

JPME currently has the higher Sharpe Ratio (1.95 vs 1.82), 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.