SLYG vs. JPSE

Last updated Jun 5, 2026

SLYG (SPDR S&P 600 Small Cap Growth ETF) and JPSE (JPMorgan Diversified Return U.S. Small Cap Equity ETF) are both Small Cap Growth Equities funds - SLYG tracks the S&P SmallCap 600 Growth Index while JPSE tracks the JPMorgan Diversified Factor US Small Cap Equity Index. Both are passively managed. Over the past 5 years, SLYG returned 5.76%/yr vs 7.32%/yr for JPSE. With a 0.95 correlation, they move nearly in lockstep. SLYG charges 0.15%/yr vs 0.29%/yr for JPSE.

Performance

SLYG vs. JPSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P 600 Small Cap Growth ETF (SLYG) 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

The year-to-date returns for both stocks are quite close, with SLYG having a 16.95% return and JPSE slightly lower at 16.81%.

SLYG

• 1D: 1.25%
• 1M: 0.60%
• YTD: 16.95%
• 6M: 14.97%
• 1Y: 28.13%
• 3Y*: 15.87%
• 5Y*: 5.76%
• 10Y*: 10.87%

JPSE

• 1D: 1.17%
• 1M: 0.56%
• YTD: 16.81%
• 6M: 15.74%
• 1Y: 33.75%
• 3Y*: 16.33%
• 5Y*: 7.32%
• 10Y*: —

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

SLYG vs. JPSE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SLYG SPDR S&P 600 Small Cap Growth ETF	16.95%	5.20%	9.38%	17.27%	-21.26%	22.42%	19.48%	20.97%	-4.20%	14.62%
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF	16.81%	8.77%	8.07%	15.87%	-14.40%	29.31%	12.49%	22.95%	-8.61%	14.38%

Correlation

The correlation between SLYG and JPSE is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Nov 18, 2016	0.95

The correlation between SLYG and JPSE has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

SLYG vs. JPSE - Sectors Allocation Comparison

Sectors	SLYG	JPSE
Technology	20.1%	14.6%
Industrials	19.5%	11.7%
Healthcare	14.4%	9.0%
Financial Services	13.9%	9.7%
Consumer Cyclical	10.4%	7.9%
Real Estate	6.4%	13.1%
Energy	5.1%	8.9%
Communication Services	2.8%	2.7%
Consumer Defensive	2.8%	8.1%
Basic Materials	2.8%	9.6%
Utilities	1.9%	4.8%

Return for Risk

SLYG vs. JPSE — Risk / Return Rank

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

SLYG

SLYG Risk / Return Rank: 53
SLYG Sharpe Ratio Rank: 47
SLYG Sortino Ratio Rank: 49
SLYG Omega Ratio Rank: 45
SLYG Calmar Ratio Rank: 63
SLYG Martin Ratio Rank: 61

JPSE

JPSE Risk / Return Rank: 71
JPSE Sharpe Ratio Rank: 65
JPSE Sortino Ratio Rank: 67
JPSE Omega Ratio Rank: 61
JPSE Calmar Ratio Rank: 82
JPSE Martin Ratio Rank: 79

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.

SLYG vs. JPSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 600 Small Cap Growth ETF (SLYG) 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.

	SLYG	JPSE	Difference
Sharpe ratio: Return per unit of total volatility	1.61	2.12	-0.51
Sortino ratio: Return per unit of downside risk	2.38	3.04	-0.66
Omega ratio: Gain probability vs. loss probability	1.28	1.36	-0.08
Calmar ratio: Return relative to maximum drawdown	3.11	4.24	-1.13
Martin ratio: Return relative to average drawdown	10.86	15.08	-4.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SLYG vs. JPSE - Sharpe Ratio Comparison

The current SLYG Sharpe Ratio is 1.61, which is comparable to the JPSE Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of SLYG 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.

Sharpe Ratios by Period

	SLYG	JPSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.61	2.12	-0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	0.37	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.49	-0.18

Drawdowns

SLYG vs. JPSE - Drawdown Comparison

The maximum SLYG drawdown since its inception was -62.15%, which is greater than JPSE's maximum drawdown of -43.02%. Use the drawdown chart below to compare losses from any high point for SLYG and JPSE.

Drawdown Indicators

	SLYG	JPSE	Difference
Max Drawdown Largest peak-to-trough decline	-62.15%	-43.02%	-19.13%
Max Drawdown (1Y) Largest decline over 1 year	-9.10%	-8.00%	-1.10%
Max Drawdown (3Y) Largest decline over 3 years	-27.39%	-25.49%	-1.90%
Max Drawdown (5Y) Largest decline over 5 years	-29.18%	-25.56%	-3.62%
Max Drawdown (10Y) Largest decline over 10 years	-41.86%	—	—
Current Drawdown Current decline from peak	-0.18%	-0.21%	+0.03%
Average Drawdown Average peak-to-trough decline	-14.55%	-7.42%	-7.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	2.24%	+0.36%

Volatility

SLYG vs. JPSE - Volatility Comparison

SPDR S&P 600 Small Cap Growth ETF (SLYG) and JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE) have volatilities of 4.47% and 4.40%, 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.

Volatility by Period

	SLYG	JPSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	4.40%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	12.52%	10.95%	+1.57%
Volatility (1Y) Calculated over the trailing 1-year period	17.56%	16.00%	+1.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.52%	20.08%	+1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.74%	21.81%	+0.93%

SLYG vs. JPSE - Expense Ratio Comparison

SLYG has a 0.15% expense ratio, which is lower than JPSE's 0.29% expense ratio.

Dividends

SLYG vs. JPSE - Dividend Comparison

SLYG's dividend yield for the trailing twelve months is around 0.70%, less than JPSE's 1.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF	1.36%	1.62%	1.66%	1.76%	1.55%	1.24%	1.32%	1.23%	1.18%	0.74%	0.14%	0.00%
SLYG SPDR S&P 600 Small Cap Growth ETF	0.70%	0.86%	1.22%	1.18%	1.18%	0.68%	0.71%	1.08%	1.06%	4.74%	1.13%	5.75%

Frequently Asked Questions

Can I hold both SLYG and JPSE in my portfolio?

With a correlation of 0.95, SLYG and JPSE 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.

Which is riskier, SLYG or JPSE?

SLYG has higher volatility (4.47%) compared to JPSE (4.40%). In terms of maximum drawdown, SLYG dropped -62.15% vs JPSE's -43.02%.

Which ETF is better, SLYG or JPSE?

On 5-year performance, JPSE leads with 7.32% vs 5.76% for SLYG. On fees, SLYG is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SLYG or JPSE?

Over the 5-year period, JPSE has performed better with a 7.32% return vs 5.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SLYG or JPSE?

SLYG is cheaper with a 0.15% expense ratio, compared with 0.29% for JPSE.

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

JPSE has the higher dividend yield at 1.36%, compared with 0.70% for SLYG.

What is the main difference between SLYG and JPSE?

SLYG tracks S&P SmallCap 600 Growth Index, while JPSE tracks JPMorgan Diversified Factor US Small Cap Equity Index. They also come from different issuers: State Street and JPMorgan. Their fees differ too: 0.15% for SLYG and 0.29% for JPSE.

Which has better risk-adjusted returns?

JPSE currently has the higher Sharpe Ratio (2.12 vs 1.61), 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.