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JPSE vs. IJR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JPSE vs. IJR

Last updated Jun 23, 2026

JPSE (JPMorgan Diversified Return U.S. Small Cap Equity ETF) and IJR (iShares Core S&P Small-Cap 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 IJR is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index. Both are passively managed. Over the past 5 years, JPSE returned 7.84%/yr vs 6.65%/yr for IJR. With a 0.97 correlation, they move nearly in lockstep. JPSE charges 0.29%/yr vs 0.06%/yr for IJR.

Performance

JPSE vs. IJR - 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 iShares Core S&P Small-Cap ETF (IJR). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with JPSE having a 18.86% return and IJR slightly higher at 19.75%.

JPSE

1D
0.34%
1M
3.24%
YTD
18.86%
6M
16.31%
1Y
35.69%
3Y*
16.60%
5Y*
7.84%
10Y*
—

IJR

1D
0.03%
1M
4.58%
YTD
19.75%
6M
16.72%
1Y
36.74%
3Y*
16.28%
5Y*
6.65%
10Y*
11.34%
*Multi-year figures are annualized to reflect compound growth (CAGR)

JPSE vs. IJR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
JPSE
JPMorgan Diversified Return U.S. Small Cap Equity ETF		18.86%8.77%8.07%15.87%-14.40%29.31%12.49%22.95%-8.61%14.38%
IJR
iShares Core S&P Small-Cap ETF		19.75%5.89%8.63%16.06%-16.20%26.58%11.28%22.82%-8.51%13.15%

Correlation

The correlation between JPSE and IJR is 0.96 - 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

0.96

Correlation (3Y)
Calculated over the trailing 3-year period

0.97

Correlation (5Y)
Calculated over the trailing 5-year period

0.98

Correlation (All Time)
Calculated using the full available price history since Nov 17, 2016

0.97

The correlation between JPSE and IJR has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

JPSE vs. IJR - Sectors Allocation Comparison

Sectors
JPSE
IJR

Technology

15.8%
15.9%

Real Estate

12.8%
7.5%

Industrials

10.5%
16.0%

Financial Services

9.2%
16.0%

Basic Materials

8.6%
4.7%

Healthcare

8.5%
11.0%

Consumer Cyclical

8.0%
12.5%

Energy

7.7%
6.8%

Consumer Defensive

7.4%
3.2%

Utilities

5.1%
1.9%

Communication Services

2.0%
3.2%

Technology

JPSE
15.8%
IJR
15.9%

Real Estate

JPSE
12.8%
IJR
7.5%

Industrials

JPSE
10.5%
IJR
16.0%

Financial Services

JPSE
9.2%
IJR
16.0%

Basic Materials

JPSE
8.6%
IJR
4.7%

Healthcare

JPSE
8.5%
IJR
11.0%

Consumer Cyclical

JPSE
8.0%
IJR
12.5%

Energy

JPSE
7.7%
IJR
6.8%

Consumer Defensive

JPSE
7.4%
IJR
3.2%

Utilities

JPSE
5.1%
IJR
1.9%

Communication Services

JPSE
2.0%
IJR
3.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

JPMorgan Diversified Return U.S. Small Cap Equity ETF

iShares Core S&P Small-Cap ETF

Often compared with JPSE:
JPSE vs. PULSJPSE vs. FLQMJPSE vs. BIGZJPSE vs. IWMJPSE vs. DFASJPSE vs. BITOJPSE vs. PFFA
Often compared with IJR:
IJR vs. IWMIJR vs. VBIJR vs. AVUVIJR vs. IJHIJR vs. IJSIJR vs. SCHAIJR vs. VBR

Return for Risk

JPSE vs. IJR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
JPSE
JPSE Risk / Return Rank: 7575
Overall Rank
JPSE Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
JPSE Sortino Ratio Rank: 7373
Sortino Ratio Rank
JPSE Omega Ratio Rank: 6565
Omega Ratio Rank
JPSE Calmar Ratio Rank: 8585
Calmar Ratio Rank
JPSE Martin Ratio Rank: 8282
Martin Ratio Rank
IJR
IJR Risk / Return Rank: 7171
Overall Rank
IJR Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
IJR Sortino Ratio Rank: 6969
Sortino Ratio Rank
IJR Omega Ratio Rank: 6060
Omega Ratio Rank
IJR Calmar Ratio Rank: 8383
Calmar Ratio Rank
IJR Martin Ratio Rank: 7777
Martin Ratio Rank
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. IJR - 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 iShares Core S&P Small-Cap ETF (IJR). 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.

JPSEIJRDifference
Sharpe ratioReturn per unit of total volatility
2.21
2.08

+0.13

Sortino ratioReturn per unit of downside risk
3.15
2.99

+0.16

Omega ratioGain probability vs. loss probability

1.38

1.36

+0.02

Calmar ratioReturn relative to maximum drawdown

4.48

4.25

+0.23

Martin ratioReturn relative to average drawdown

15.97

14.27

+1.70

JPSE vs. IJR - Sharpe Ratio Comparison

The current JPSE Sharpe Ratio is 2.21, which is comparable to the IJR Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of JPSE and IJR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

JPSE vs. IJR - Drawdown Comparison

The maximum JPSE drawdown since its inception was -43.02%, smaller than the maximum IJR drawdown of -58.15%. Use the drawdown chart below to compare losses from any high point for JPSE and IJR.

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Drawdown Indicators

JPSEIJRDifference

Max Drawdown

Largest peak-to-trough decline

-43.02%

-58.15%

+15.13%

Max Drawdown (1Y)

Largest decline over 1 year

-8.00%

-8.68%

+0.68%

Max Drawdown (3Y)

Largest decline over 3 years

-25.49%

-28.02%

+2.53%

Max Drawdown (5Y)

Largest decline over 5 years

-25.56%

-28.02%

+2.46%

Max Drawdown (10Y)

Largest decline over 10 years

—

-44.36%

—

Current Drawdown

Current decline from peak

-0.09%

-0.09%

0.00%

Average Drawdown

Average peak-to-trough decline

-7.39%

-9.26%

+1.87%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.24%

2.58%

-0.34%

Volatility

JPSE vs. IJR - Volatility Comparison

JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE) and iShares Core S&P Small-Cap ETF (IJR) have volatilities of 4.74% and 4.92%, 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.

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Volatility by Period

JPSEIJRDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.74%

4.92%

-0.18%

Volatility (6M)

Calculated over the trailing 6-month period

11.20%

12.05%

-0.85%

Volatility (1Y)

Calculated over the trailing 1-year period

16.23%

17.76%

-1.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.08%

21.40%

-1.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.79%

22.93%

-1.14%

JPSE vs. IJR - Expense Ratio Comparison

JPSE has a 0.29% expense ratio, which is higher than IJR's 0.06% expense ratio.

Dividends

JPSE vs. IJR - Dividend Comparison

JPSE's dividend yield for the trailing twelve months is around 1.34%, more than IJR's 1.15% yield.

PositionTTM20252024202320222021202020192018201720162015
IJR
iShares Core S&P Small-Cap ETF		1.15%1.44%2.05%1.31%1.41%1.53%1.11%1.44%1.58%1.20%1.22%1.48%
JPSE
JPMorgan Diversified Return U.S. Small Cap Equity ETF		1.34%1.62%1.66%1.76%1.55%1.24%1.32%1.23%1.18%0.74%0.14%0.00%

Frequently Asked Questions

With a correlation of 0.96, JPSE and IJR 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.

IJR has higher volatility (4.92%) compared to JPSE (4.74%). In terms of maximum drawdown, JPSE dropped -43.02% vs IJR's -58.15%.

On 5-year performance, JPSE leads with 7.84% vs 6.65% for IJR. On fees, IJR is cheaper at 0.06% per year. On volatility, JPSE has been the lower-risk option at 4.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, JPSE has performed better with a 7.84% return vs 6.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IJR is cheaper with a 0.06% expense ratio, compared with 0.29% for JPSE.

JPSE has the higher dividend yield at 1.34%, compared with 1.15% for IJR.

JPSE is categorized as Small Cap Growth Equities, while IJR is Small Cap Blend Equities. JPSE tracks JPMorgan Diversified Factor US Small Cap Equity Index, while IJR tracks S&P SmallCap 600 Index. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.29% for JPSE and 0.06% for IJR.

JPSE currently has the higher Sharpe Ratio (2.21 vs 2.08), 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.

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