JPSE vs. FLQM

Last updated Jun 24, 2026

JPSE (JPMorgan Diversified Return U.S. Small Cap Equity ETF) and FLQM (Franklin LibertyQ U.S. Mid Cap Equity ETF) are both exchange-traded funds - JPSE is a Small Cap Growth Equities fund tracking the JPMorgan Diversified Factor US Small Cap Equity Index, while FLQM is a Mid Cap Blend Equities fund tracking the LibertyQ U.S. Mid Cap Equity Index. Both are passively managed. Over the past 5 years, JPSE returned 7.37%/yr vs 6.88%/yr for FLQM. A 0.79 correlation means they provide meaningful diversification when combined. JPSE charges 0.29%/yr vs 0.30%/yr for FLQM.

Performance

JPSE vs. FLQM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE) and Franklin LibertyQ U.S. Mid Cap Equity ETF (FLQM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPSE achieves a 18.18% return, which is significantly higher than FLQM's 1.78% return.

JPSE

• 1D: -0.57%
• 1M: 2.65%
• YTD: 18.18%
• 6M: 16.01%
• 1Y: 32.88%
• 3Y*: 16.38%
• 5Y*: 7.37%
• 10Y*: —

FLQM

• 1D: 0.58%
• 1M: 0.46%
• YTD: 1.78%
• 6M: 0.64%
• 1Y: 7.43%
• 3Y*: 11.10%
• 5Y*: 6.88%
• 10Y*: —

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

JPSE vs. FLQM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF	18.18%	8.77%	8.07%	15.87%	-14.40%	29.31%	12.49%	22.95%	-8.61%	8.80%
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF	1.78%	5.16%	14.32%	17.47%	-12.95%	28.76%	15.50%	28.56%	-4.24%	10.32%

Correlation

The correlation between JPSE and FLQM is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Apr 28, 2017	0.79

The correlation between JPSE and FLQM shifts across timeframes, from 0.76 (1 year) to 0.87 (5 years), reflecting how their relationship changes across market environments.

JPSE vs. FLQM - Sectors Allocation Comparison

Sectors	JPSE	FLQM
Technology	15.8%	13.4%
Real Estate	12.8%	4.3%
Industrials	10.5%	17.9%
Financial Services	9.2%	15.1%
Basic Materials	8.6%	0.2%
Healthcare	8.5%	12.3%
Consumer Cyclical	8.0%	18.8%
Energy	7.7%	5.3%
Consumer Defensive	7.4%	7.7%
Utilities	5.1%	1.6%
Communication Services	2.0%	3.3%

Return for Risk

JPSE vs. FLQM — Risk / Return Rank

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

JPSE

JPSE Risk / Return Rank: 73
JPSE Sharpe Ratio Rank: 68
JPSE Sortino Ratio Rank: 70
JPSE Omega Ratio Rank: 62
JPSE Calmar Ratio Rank: 83
JPSE Martin Ratio Rank: 80

FLQM

FLQM Risk / Return Rank: 20
FLQM Sharpe Ratio Rank: 19
FLQM Sortino Ratio Rank: 19
FLQM Omega Ratio Rank: 17
FLQM Calmar Ratio Rank: 22
FLQM Martin Ratio Rank: 23

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.

JPSE vs. FLQM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE) and Franklin LibertyQ U.S. Mid Cap Equity ETF (FLQM). 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.

	JPSE	FLQM	Difference
Sharpe ratio: Return per unit of total volatility	2.05	0.61	+1.43
Sortino ratio: Return per unit of downside risk	2.94	0.99	+1.95
Omega ratio: Gain probability vs. loss probability	1.35	1.11	+0.24
Calmar ratio: Return relative to maximum drawdown	4.13	0.99	+3.14
Martin ratio: Return relative to average drawdown	14.71	2.72	+11.99

JPSE vs. FLQM - Sharpe Ratio Comparison

The current JPSE Sharpe Ratio is 2.05, which is higher than the FLQM Sharpe Ratio of 0.61. The chart below compares the historical Sharpe Ratios of JPSE and FLQM, 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

JPSE vs. FLQM - Drawdown Comparison

The maximum JPSE drawdown since its inception was -43.02%, which is greater than FLQM's maximum drawdown of -37.26%. Use the drawdown chart below to compare losses from any high point for JPSE and FLQM.

Drawdown Indicators

	JPSE	FLQM	Difference
Max Drawdown Largest peak-to-trough decline	-43.02%	-37.26%	-5.76%
Max Drawdown (1Y) Largest decline over 1 year	-8.00%	-7.57%	-0.43%
Max Drawdown (3Y) Largest decline over 3 years	-25.49%	-19.70%	-5.79%
Max Drawdown (5Y) Largest decline over 5 years	-25.56%	-22.51%	-3.05%
Current Drawdown Current decline from peak	-0.66%	-2.30%	+1.64%
Average Drawdown Average peak-to-trough decline	-7.38%	-4.90%	-2.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	2.74%	-0.50%

Volatility

JPSE vs. FLQM - Volatility Comparison

JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE) has a higher volatility of 4.80% compared to Franklin LibertyQ U.S. Mid Cap Equity ETF (FLQM) at 3.13%. This indicates that JPSE's price experiences larger fluctuations and is considered to be riskier than FLQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPSE	FLQM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.80%	3.13%	+1.67%
Volatility (6M) Calculated over the trailing 6-month period	11.22%	8.54%	+2.68%
Volatility (1Y) Calculated over the trailing 1-year period	16.21%	12.23%	+3.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.08%	16.40%	+3.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.79%	18.45%	+3.34%

JPSE vs. FLQM - Expense Ratio Comparison

JPSE has a 0.29% expense ratio, which is lower than FLQM's 0.30% expense ratio.

Dividends

JPSE vs. FLQM - Dividend Comparison

JPSE's dividend yield for the trailing twelve months is around 1.35%, less than FLQM's 1.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF	1.50%	1.49%	1.28%	1.27%	1.33%	1.05%	1.10%	1.37%	1.42%	1.15%	0.00%
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF	1.35%	1.62%	1.66%	1.76%	1.55%	1.24%	1.32%	1.23%	1.18%	0.74%	0.14%

Frequently Asked Questions

Can I hold both JPSE and FLQM in my portfolio?

JPSE and FLQM have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPSE or FLQM?

JPSE has higher volatility (4.80%) compared to FLQM (3.13%). In terms of maximum drawdown, JPSE dropped -43.02% vs FLQM's -37.26%.

Which ETF is better, JPSE or FLQM?

On 5-year performance, JPSE leads with 7.37% vs 6.88% for FLQM. On fees, JPSE is cheaper at 0.29% per year. On volatility, FLQM has been the lower-risk option at 3.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPSE or FLQM?

Over the 5-year period, JPSE has performed better with a 7.37% return vs 6.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPSE or FLQM?

JPSE is cheaper with a 0.29% expense ratio, compared with 0.30% for FLQM.

Which ETF pays a higher dividend yield, JPSE or FLQM?

FLQM has the higher dividend yield at 1.50%, compared with 1.35% for JPSE.

What is the main difference between JPSE and FLQM?

JPSE is categorized as Small Cap Growth Equities, while FLQM is Mid Cap Blend Equities. JPSE tracks JPMorgan Diversified Factor US Small Cap Equity Index, while FLQM tracks LibertyQ U.S. Mid Cap Equity Index. They also come from different issuers: JPMorgan and Franklin Templeton. Their fees differ too: 0.29% for JPSE and 0.30% for FLQM.

Which has better risk-adjusted returns?

JPSE currently has the higher Sharpe Ratio (2.05 vs 0.61), 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.