JPSE vs. IVOG
JPSE (JPMorgan Diversified Return U.S. Small Cap Equity ETF) and IVOG (Vanguard S&P Mid-Cap 400 Growth ETF) are both Small Cap Growth Equities funds - JPSE tracks the JPMorgan Diversified Factor US Small Cap Equity Index while IVOG tracks the S&P MidCap 400 Growth Index. Both are passively managed. Over the past 5 years, JPSE returned 7.37%/yr vs 8.12%/yr for IVOG. Their correlation of 0.90 suggests significant overlap in exposure. JPSE charges 0.29%/yr vs 0.15%/yr for IVOG.
Performance
JPSE vs. IVOG - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with JPSE having a 18.18% return and IVOG slightly higher at 18.88%.
JPSE
- 1D
- -0.57%
- 1M
- 2.65%
- YTD
- 18.18%
- 6M
- 16.01%
- 1Y
- 32.88%
- 3Y*
- 16.38%
- 5Y*
- 7.37%
- 10Y*
- —
IVOG
- 1D
- 0.10%
- 1M
- 2.65%
- YTD
- 18.88%
- 6M
- 15.91%
- 1Y
- 28.68%
- 3Y*
- 17.82%
- 5Y*
- 8.12%
- 10Y*
- 11.92%
JPSE vs. IVOG - 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% | 14.38% |
IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 18.88% | 7.34% | 15.62% | 17.36% | -19.08% | 18.85% | 22.60% | 26.13% | -10.58% | 19.90% |
Correlation
The correlation between JPSE and IVOG is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2016 | 0.90 |
The correlation between JPSE and IVOG has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.
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Return for Risk
JPSE vs. IVOG — Risk / Return Rank
JPSE
IVOG
JPSE vs. IVOG - 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 Vanguard S&P Mid-Cap 400 Growth ETF (IVOG). 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 | IVOG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.29 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 4.13 | 2.97 | +1.15 |
| Martin ratioReturn relative to average drawdown | 14.71 | 11.57 | +3.14 |
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Drawdowns
JPSE vs. IVOG - Drawdown Comparison
The maximum JPSE drawdown since its inception was -43.02%, which is greater than IVOG's maximum drawdown of -39.32%. Use the drawdown chart below to compare losses from any high point for JPSE and IVOG.
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Drawdown Indicators
| JPSE | IVOG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.02% | -39.32% | -3.70% |
Max Drawdown (1Y)Largest decline over 1 year | -8.00% | -9.69% | +1.69% |
Max Drawdown (3Y)Largest decline over 3 years | -25.49% | -25.61% | +0.12% |
Max Drawdown (5Y)Largest decline over 5 years | -25.56% | -29.31% | +3.75% |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.32% | — |
Current DrawdownCurrent decline from peak | -0.66% | -1.48% | +0.82% |
Average DrawdownAverage peak-to-trough decline | -7.38% | -5.86% | -1.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.24% | 2.49% | -0.25% |
Volatility
JPSE vs. IVOG - Volatility Comparison
The current volatility for JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE) is 4.80%, while Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) has a volatility of 5.76%. This indicates that JPSE experiences smaller price fluctuations and is considered to be less risky than IVOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPSE | IVOG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.80% | 5.76% | -0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 11.22% | 13.87% | -2.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.21% | 17.68% | -1.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.08% | 20.70% | -0.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.79% | 20.61% | +1.18% |
JPSE vs. IVOG - Expense Ratio Comparison
JPSE has a 0.29% expense ratio, which is higher than IVOG's 0.15% expense ratio.
Dividends
JPSE vs. IVOG - Dividend Comparison
JPSE's dividend yield for the trailing twelve months is around 1.35%, more than IVOG's 0.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 0.54% | 0.64% | 0.79% | 1.15% | 1.05% | 0.47% | 0.74% | 1.17% | 1.01% | 0.93% | 1.11% | 1.04% |
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF | 1.06% | 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
JPSE and IVOG have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVOG has higher volatility (5.76%) compared to JPSE (4.80%). In terms of maximum drawdown, JPSE dropped -43.02% vs IVOG's -39.32%.
On 5-year performance, IVOG leads with 8.12% vs 7.37% for JPSE. On fees, IVOG is cheaper at 0.15% per year. On volatility, JPSE has been the lower-risk option at 4.80%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IVOG has performed better with a 8.12% return vs 7.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVOG is cheaper with a 0.15% expense ratio, compared with 0.29% for JPSE.
JPSE has the higher dividend yield at 1.35%, compared with 0.54% for IVOG.
JPSE tracks JPMorgan Diversified Factor US Small Cap Equity Index, while IVOG tracks S&P MidCap 400 Growth Index. They also come from different issuers: JPMorgan and Vanguard. Their fees differ too: 0.29% for JPSE and 0.15% for IVOG.
JPSE currently has the higher Sharpe Ratio (2.05 vs 1.63), 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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