JPME vs. SCHM

Last updated Jun 23, 2026

JPME (JPMorgan Diversified Return US Mid Cap Equity ETF) and SCHM (Schwab US Mid-Cap ETF) are both Mid Cap Blend Equities funds - JPME tracks the JPMorgan Diversified Factor US Mid Cap Equity Index while SCHM tracks the Dow Jones US Total Stock Market Mid-Cap. Both are passively managed. Over the past 10 years, JPME returned 11.23%/yr vs 11.71%/yr for SCHM. Their correlation of 0.94 suggests significant overlap in exposure. JPME charges 0.24%/yr vs 0.04%/yr for SCHM.

Performance

JPME vs. SCHM - 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 Schwab US Mid-Cap ETF (SCHM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPME achieves a 13.87% return, which is significantly lower than SCHM's 19.11% return. Both investments have delivered pretty close results over the past 10 years, with JPME having a 11.23% annualized return and SCHM not far ahead at 11.71%.

JPME

• 1D: 0.35%
• 1M: 1.46%
• YTD: 13.87%
• 6M: 12.64%
• 1Y: 23.15%
• 3Y*: 15.26%
• 5Y*: 9.20%
• 10Y*: 11.23%

SCHM

• 1D: -1.73%
• 1M: 2.88%
• YTD: 19.11%
• 6M: 16.97%
• 1Y: 31.33%
• 3Y*: 17.85%
• 5Y*: 8.08%
• 10Y*: 11.71%

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

JPME vs. SCHM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JPME JPMorgan Diversified Return US Mid Cap Equity ETF	13.87%	8.26%	13.55%	11.28%	-10.12%	28.90%	8.46%	25.87%	-8.92%	19.09%
SCHM Schwab US Mid-Cap ETF	19.11%	10.17%	11.98%	16.69%	-17.07%	19.36%	15.26%	27.48%	-8.77%	19.60%

Correlation

The correlation between JPME and SCHM 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	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since May 18, 2016	0.94

The correlation between JPME and SCHM has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

JPME vs. SCHM - Sectors Allocation Comparison

Sectors	JPME	SCHM
Technology	13.0%	22.1%
Real Estate	11.5%	6.4%
Industrials	11.4%	21.7%
Healthcare	11.2%	10.9%
Consumer Defensive	9.2%	3.4%
Utilities	9.0%	2.9%
Consumer Cyclical	8.9%	10.8%
Financial Services	7.8%	10.9%
Basic Materials	7.2%	4.7%
Energy	7.1%	3.4%
Communication Services	3.7%	2.6%

Return for Risk

JPME vs. SCHM — Risk / Return Rank

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

JPME

JPME Risk / Return Rank: 63
JPME Sharpe Ratio Rank: 58
JPME Sortino Ratio Rank: 61
JPME Omega Ratio Rank: 54
JPME Calmar Ratio Rank: 70
JPME Martin Ratio Rank: 70

SCHM

SCHM Risk / Return Rank: 64
SCHM Sharpe Ratio Rank: 60
SCHM Sortino Ratio Rank: 60
SCHM Omega Ratio Rank: 56
SCHM Calmar Ratio Rank: 70
SCHM Martin Ratio Rank: 74

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. SCHM - 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 Schwab US Mid-Cap ETF (SCHM). 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	SCHM	Difference
Sharpe ratio: Return per unit of total volatility	1.91	1.93	-0.02
Sortino ratio: Return per unit of downside risk	2.76	2.72	+0.05
Omega ratio: Gain probability vs. loss probability	1.33	1.34	-0.01
Calmar ratio: Return relative to maximum drawdown	3.40	3.38	+0.02
Martin ratio: Return relative to average drawdown	12.59	13.48	-0.90

JPME vs. SCHM - Sharpe Ratio Comparison

The current JPME Sharpe Ratio is 1.91, which is comparable to the SCHM Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of JPME and SCHM, 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. SCHM - Drawdown Comparison

The maximum JPME drawdown since its inception was -41.01%, roughly equal to the maximum SCHM drawdown of -42.43%. Use the drawdown chart below to compare losses from any high point for JPME and SCHM.

Drawdown Indicators

	JPME	SCHM	Difference
Max Drawdown Largest peak-to-trough decline	-41.01%	-42.43%	+1.42%
Max Drawdown (1Y) Largest decline over 1 year	-6.84%	-9.32%	+2.48%
Max Drawdown (3Y) Largest decline over 3 years	-18.70%	-23.27%	+4.57%
Max Drawdown (5Y) Largest decline over 5 years	-19.30%	-26.46%	+7.16%
Max Drawdown (10Y) Largest decline over 10 years	-41.01%	-42.43%	+1.42%
Current Drawdown Current decline from peak	-1.22%	-1.73%	+0.51%
Average Drawdown Average peak-to-trough decline	-4.37%	-5.64%	+1.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.84%	2.33%	-0.49%

Volatility

JPME vs. SCHM - Volatility Comparison

The current volatility for JPMorgan Diversified Return US Mid Cap Equity ETF (JPME) is 3.33%, while Schwab US Mid-Cap ETF (SCHM) has a volatility of 5.75%. This indicates that JPME experiences smaller price fluctuations and is considered to be less risky than SCHM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPME	SCHM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.33%	5.75%	-2.42%
Volatility (6M) Calculated over the trailing 6-month period	8.65%	12.61%	-3.96%
Volatility (1Y) Calculated over the trailing 1-year period	12.20%	16.30%	-4.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.14%	19.67%	-3.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.71%	20.49%	-2.78%

JPME vs. SCHM - Expense Ratio Comparison

JPME has a 0.24% expense ratio, which is higher than SCHM's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

JPME vs. SCHM - Dividend Comparison

JPME's dividend yield for the trailing twelve months is around 1.81%, more than SCHM's 1.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JPME JPMorgan Diversified Return US Mid Cap Equity ETF	1.81%	2.03%	1.77%	1.84%	1.84%	1.44%	1.51%	1.68%	1.80%	1.17%	0.91%	0.00%
SCHM Schwab US Mid-Cap ETF	1.22%	1.46%	1.43%	1.50%	1.67%	1.13%	1.31%	1.48%	1.56%	1.27%	1.51%	1.54%

Frequently Asked Questions

Can I hold both JPME and SCHM in my portfolio?

With a correlation of 0.91, JPME and SCHM 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 SCHM?

SCHM has higher volatility (5.75%) compared to JPME (3.33%). In terms of maximum drawdown, JPME dropped -41.01% vs SCHM's -42.43%.

Which ETF is better, JPME or SCHM?

On 10-year performance, SCHM leads with 11.71% vs 11.23% for JPME. On fees, SCHM is cheaper at 0.04% per year. On volatility, JPME has been the lower-risk option at 3.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPME or SCHM?

Over the 10-year period, SCHM has performed better with a 11.71% return vs 11.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPME or SCHM?

SCHM is cheaper with a 0.04% expense ratio, compared with 0.24% for JPME.

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

JPME has the higher dividend yield at 1.81%, compared with 1.22% for SCHM.

What is the main difference between JPME and SCHM?

JPME tracks JPMorgan Diversified Factor US Mid Cap Equity Index, while SCHM tracks Dow Jones US Total Stock Market Mid-Cap. They also come from different issuers: JPMorgan and Charles Schwab. Their fees differ too: 0.24% for JPME and 0.04% for SCHM.

Which has better risk-adjusted returns?

SCHM currently has the higher Sharpe Ratio (1.93 vs 1.91), 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.