RZG vs. JPSE

Last updated Aug 5, 2026

RZG (Invesco S&P SmallCap 600® Pure Growth ETF) and JPSE (JPMorgan Diversified Return U.S. Small Cap Equity ETF) are both Small Cap Growth Equities funds - RZG tracks the S&P Small Cap 600 Pure Growth while JPSE tracks the JPMorgan Diversified Factor US Small Cap Equity Index. Both are passively managed. Over the past 5 years, RZG returned 6.47%/yr vs 8.70%/yr for JPSE. Their correlation of 0.92 means they have usually moved in the same direction. RZG charges 0.35%/yr vs 0.29%/yr for JPSE.

Performance

RZG vs. JPSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap 600® Pure Growth ETF (RZG) and JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RZG achieves a 31.95% return, which is significantly higher than JPSE's 21.98% return.

RZG

• 1D: 2.48%
• 1M: -0.04%
• 6M: 24.01%
• YTD: 31.95%
• 1Y: 40.91%
• 3Y*: 19.09%
• 5Y*: 6.47%
• 10Y*: 10.25%
• ALL TIME*: 9.44%

JPSE

• 1D: 1.20%
• 1M: 1.86%
• 6M: 13.47%
• YTD: 21.98%
• 1Y: 34.46%
• 3Y*: 14.59%
• 5Y*: 8.70%
• 10Y*: —
• ALL TIME*: 11.00%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF	$998.04K	$1.44M	$1.84M
RZG Invesco S&P SmallCap 600® Pure Growth ETF	$1.33M	$1.65M	$1.06M

RZG vs. JPSE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RZG Invesco S&P SmallCap 600® Pure Growth ETF	31.95%	10.22%	9.84%	19.15%	-29.00%	21.01%	17.76%	14.25%	-8.70%	19.18%
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF	21.98%	8.77%	8.07%	15.87%	-14.40%	29.31%	12.49%	22.95%	-8.61%	14.38%

Correlation

The correlation between RZG and JPSE is 0.90, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (5Y) Shows whether the relationship held over a longer period.	0.93
Correlation (All Time) Calculated using the full available price history since Nov 17, 2016	0.92

The correlation between RZG and JPSE has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

RZG vs. JPSE - Sectors Allocation Comparison

Sectors	RZG	JPSE
Healthcare	25.1%	10.3%
Technology	17.3%	11.1%
Industrials	16.4%	10.9%
Financial Services	15.1%	11.4%
Consumer Cyclical	9.1%	8.1%
Real Estate	6.8%	14.7%
Consumer Defensive	5.6%	8.7%
Energy	2.4%	7.9%
Communication Services	1.7%	2.6%
Basic Materials	0.4%	9.3%
Utilities	0.4%	4.8%

Return for Risk

RZG vs. JPSE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RZG

RZG Risk / Return Rank: 85
RZG Sharpe Ratio Rank: 82
RZG Sortino Ratio Rank: 86
RZG Omega Ratio Rank: 76
RZG Calmar Ratio Rank: 93
RZG Martin Ratio Rank: 88

JPSE

JPSE Risk / Return Rank: 87
JPSE Sharpe Ratio Rank: 85
JPSE Sortino Ratio Rank: 87
JPSE Omega Ratio Rank: 82
JPSE Calmar Ratio Rank: 91
JPSE Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RZG vs. JPSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap 600® Pure Growth ETF (RZG) and JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE). 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.

	RZG	JPSE	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.22	-0.10
Sortino ratio: Return per unit of downside risk	3.13	3.21	-0.08
Omega ratio: Gain probability vs. loss probability	1.36	1.38	-0.03
Calmar ratio: Return relative to maximum drawdown	4.77	4.32	+0.44
Martin ratio: Return relative to average drawdown	14.75	15.81	-1.06

RZG vs. JPSE - Sharpe Ratio Comparison

The current RZG Sharpe Ratio is 2.12, which is comparable to the JPSE Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of RZG and JPSE, 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

RZG vs. JPSE - Drawdown Comparison

The maximum RZG drawdown since its inception was -58.52%, which is greater than JPSE's maximum drawdown of -43.02%. Use the drawdown chart below to compare losses from any high point for RZG and JPSE.

Drawdown Indicators

	RZG	JPSE	Difference
Max Drawdown Largest peak-to-trough decline	-58.52%	-43.02%	-15.50%
Max Drawdown (1Y) Largest decline over 1 year	-8.63%	-8.00%	-0.63%
Max Drawdown (3Y) Largest decline over 3 years	-25.73%	-25.49%	-0.24%
Max Drawdown (5Y) Largest decline over 5 years	-38.33%	-25.56%	-12.77%
Max Drawdown (10Y) Largest decline over 10 years	-54.02%	—	—
Current Drawdown Current decline from peak	-1.62%	0.00%	-1.62%
Average Drawdown Average peak-to-trough decline	-12.04%	-7.31%	-4.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	2.19%	+0.59%

Volatility

RZG vs. JPSE - Volatility Comparison

Invesco S&P SmallCap 600® Pure Growth ETF (RZG) has a higher volatility of 6.56% compared to JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE) at 3.44%. This indicates that RZG's price experiences larger fluctuations and is considered to be riskier than JPSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RZG	JPSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.56%	3.44%	+3.12%
Volatility (6M) Calculated over the trailing 6-month period	14.93%	10.88%	+4.05%
Volatility (1Y) Calculated over the trailing 1-year period	19.42%	15.71%	+3.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.07%	19.92%	+3.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.67%	21.69%	+2.98%

RZG vs. JPSE - Expense Ratio Comparison

RZG has a 0.35% expense ratio, which is higher than JPSE's 0.29% expense ratio.

Dividends

RZG vs. JPSE - Dividend Comparison

RZG's dividend yield for the trailing twelve months is around 0.43%, less than JPSE's 1.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF	1.30%	1.62%	1.66%	1.76%	1.55%	1.24%	1.32%	1.23%	1.18%	0.74%	0.14%	0.00%
RZG Invesco S&P SmallCap 600® Pure Growth ETF	0.43%	0.37%	0.95%	1.43%	1.59%	0.22%	0.49%	0.70%	0.46%	0.44%	0.65%	0.70%

Frequently Asked Questions

Can I hold both RZG and JPSE in my portfolio?

RZG and JPSE have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RZG or JPSE?

RZG has higher volatility (6.56%) compared to JPSE (3.44%). In terms of maximum drawdown, RZG dropped -58.52% vs JPSE's -43.02%.

Which ETF is better, RZG or JPSE?

On 5-year performance, JPSE leads with 8.70% vs 6.47% for RZG. On fees, JPSE is cheaper at 0.29% per year. On volatility, JPSE has been the lower-risk option at 3.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RZG or JPSE?

Over the 5-year period, JPSE has performed better with a 8.70% return vs 6.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RZG or JPSE?

JPSE is cheaper with a 0.29% expense ratio, compared with 0.35% for RZG.

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

JPSE has the higher dividend yield at 1.30%, compared with 0.43% for RZG.

What is the main difference between RZG and JPSE?

RZG tracks S&P Small Cap 600 Pure Growth, while JPSE tracks JPMorgan Diversified Factor US Small Cap Equity Index. They also come from different issuers: Invesco and JPMorgan. Their fees differ too: 0.35% for RZG and 0.29% for JPSE.

Which has better risk-adjusted returns?

JPSE currently has the higher Sharpe Ratio (2.22 vs 2.12), 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.