JPUS vs. ^GSPC

Last updated Apr 3, 2026

Compare and contrast key facts about JPMorgan Diversified Return US Equity ETF (JPUS) and S&P 500 Index (^GSPC).

JPUS is a passively managed fund by JPMorgan that tracks the performance of the JPMorgan Diversified Factor US Equity Index. It was launched on Sep 29, 2015.

Performance

JPUS vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Diversified Return US Equity ETF (JPUS) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

JPUS vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JPUS JPMorgan Diversified Return US Equity ETF	6.49%	11.18%	13.48%	10.98%	-8.47%	29.09%	7.54%	25.50%	-6.14%	20.58%
^GSPC S&P 500 Index	-3.84%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, JPUS achieves a 6.49% return, which is significantly higher than ^GSPC's -3.84% return. Over the past 10 years, JPUS has underperformed ^GSPC with an annualized return of 11.18%, while ^GSPC has yielded a comparatively higher 12.29% annualized return.

JPUS

• 1D: 0.44%
• 1M: -2.36%
• YTD: 6.49%
• 6M: 7.19%
• 1Y: 15.60%
• 3Y*: 13.61%
• 5Y*: 9.76%
• 10Y*: 11.18%

^GSPC

• 1D: 0.11%
• 1M: -3.43%
• YTD: -3.84%
• 6M: -1.98%
• 1Y: 16.08%
• 3Y*: 16.86%
• 5Y*: 10.37%
• 10Y*: 12.29%

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

Return for Risk

JPUS vs. ^GSPC — Risk / Return Rank

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

JPUS

JPUS Risk / Return Rank: 54
JPUS Sharpe Ratio Rank: 56
JPUS Sortino Ratio Rank: 56
JPUS Omega Ratio Rank: 55
JPUS Calmar Ratio Rank: 46
JPUS Martin Ratio Rank: 58

^GSPC

^GSPC Risk / Return Rank: 58
^GSPC Sharpe Ratio Rank: 52
^GSPC Sortino Ratio Rank: 55
^GSPC Omega Ratio Rank: 59
^GSPC Calmar Ratio Rank: 52
^GSPC Martin Ratio Rank: 71

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.

JPUS vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Diversified Return US Equity ETF (JPUS) and S&P 500 Index (^GSPC). 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.

	JPUS	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	1.05	0.88	+0.17
Sortino ratio Return per unit of downside risk	1.54	1.37	+0.18
Omega ratio Gain probability vs. loss probability	1.22	1.21	+0.01
Calmar ratio Return relative to maximum drawdown	1.43	1.39	+0.04
Martin ratio Return relative to average drawdown	6.71	6.43	+0.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPUS vs. ^GSPC - Sharpe Ratio Comparison

The current JPUS Sharpe Ratio is 1.05, which is comparable to the ^GSPC Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of JPUS and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	JPUS	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.05	0.88	+0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.62	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.68	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.46	+0.24

Correlation

The correlation between JPUS and ^GSPC is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

JPUS vs. ^GSPC - Drawdown Comparison

The maximum JPUS drawdown since its inception was -38.69%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for JPUS and ^GSPC.

Drawdown Indicators

	JPUS	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-38.69%	-56.78%	+18.09%
Max Drawdown (1Y) Largest decline over 1 year	-8.09%	-9.10%	+1.01%
Max Drawdown (5Y) Largest decline over 5 years	-19.04%	-25.43%	+6.39%
Max Drawdown (10Y) Largest decline over 10 years	-38.69%	-33.92%	-4.77%
Current Drawdown Current decline from peak	-3.77%	-5.67%	+1.90%
Average Drawdown Average peak-to-trough decline	-3.87%	-10.75%	+6.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	2.62%	-0.14%

Volatility

JPUS vs. ^GSPC - Volatility Comparison

The current volatility for JPMorgan Diversified Return US Equity ETF (JPUS) is 3.97%, while S&P 500 Index (^GSPC) has a volatility of 5.29%. This indicates that JPUS experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPUS	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.97%	5.29%	-1.32%
Volatility (6M) Calculated over the trailing 6-month period	7.76%	9.55%	-1.79%
Volatility (1Y) Calculated over the trailing 1-year period	14.91%	18.33%	-3.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.51%	16.90%	-2.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.74%	18.04%	-1.30%