VB vs. JPUS

Last updated Jun 14, 2026

VB (Vanguard Small-Cap ETF) and JPUS (JPMorgan Diversified Return US Equity ETF) are both exchange-traded funds - VB is a Small Cap Blend Equities fund tracking the CRSP US Small Cap Index, while JPUS is a Large Cap Blend Equities fund tracking the JPMorgan Diversified Factor US Equity Index. Both are passively managed. Over the past 10 years, VB returned 11.61%/yr vs 11.80%/yr for JPUS. Their correlation of 0.86 suggests significant overlap in exposure. VB charges 0.05%/yr vs 0.18%/yr for JPUS.

Performance

VB vs. JPUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Small-Cap ETF (VB) and JPMorgan Diversified Return US Equity ETF (JPUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VB achieves a 15.33% return, which is significantly higher than JPUS's 13.90% return. Both investments have delivered pretty close results over the past 10 years, with VB having a 11.61% annualized return and JPUS not far ahead at 11.80%.

VB

• 1D: 0.70%
• 1M: 5.17%
• YTD: 15.33%
• 6M: 13.69%
• 1Y: 30.83%
• 3Y*: 16.14%
• 5Y*: 6.98%
• 10Y*: 11.61%

JPUS

• 1D: 0.97%
• 1M: 4.79%
• YTD: 13.90%
• 6M: 13.51%
• 1Y: 23.69%
• 3Y*: 15.95%
• 5Y*: 9.85%
• 10Y*: 11.80%

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

VB vs. JPUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VB Vanguard Small-Cap ETF	15.33%	8.87%	14.17%	18.22%	-17.51%	17.57%	19.19%	27.34%	-9.34%	16.26%
JPUS JPMorgan Diversified Return US Equity ETF	13.90%	11.18%	13.48%	10.98%	-8.47%	29.09%	7.54%	25.50%	-6.14%	20.58%

Correlation

The correlation between VB and JPUS is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Sep 30, 2015	0.86

The correlation between VB and JPUS has been stable across timeframes, ranging from 0.85 to 0.90 - a consistent structural relationship.

VB vs. JPUS - Sectors Allocation Comparison

Sectors	VB	JPUS
Industrials	20.8%	10.3%
Technology	17.2%	12.7%
Financial Services	12.6%	7.8%
Consumer Cyclical	11.3%	8.6%
Healthcare	11.1%	11.6%
Real Estate	7.6%	10.5%
Basic Materials	4.8%	7.0%
Energy	4.7%	6.8%
Consumer Defensive	3.4%	11.0%
Utilities	3.3%	9.1%
Communication Services	3.1%	4.6%

Return for Risk

VB vs. JPUS — Risk / Return Rank

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

VB

VB Risk / Return Rank: 64
VB Sharpe Ratio Rank: 59
VB Sortino Ratio Rank: 60
VB Omega Ratio Rank: 55
VB Calmar Ratio Rank: 73
VB Martin Ratio Rank: 73

JPUS

JPUS Risk / Return Rank: 76
JPUS Sharpe Ratio Rank: 77
JPUS Sortino Ratio Rank: 80
JPUS Omega Ratio Rank: 73
JPUS Calmar Ratio Rank: 73
JPUS Martin Ratio Rank: 78

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.

VB vs. JPUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap ETF (VB) and JPMorgan Diversified Return US Equity ETF (JPUS). 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.

	VB	JPUS	Difference
Sharpe ratio: Return per unit of total volatility	1.73	2.15	-0.42
Sortino ratio: Return per unit of downside risk	2.47	3.10	-0.63
Omega ratio: Gain probability vs. loss probability	1.30	1.37	-0.07
Calmar ratio: Return relative to maximum drawdown	3.21	3.27	-0.06
Martin ratio: Return relative to average drawdown	11.80	13.15	-1.35

VB vs. JPUS - Sharpe Ratio Comparison

The current VB Sharpe Ratio is 1.73, which is comparable to the JPUS Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of VB and JPUS, 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

VB vs. JPUS - Drawdown Comparison

The maximum VB drawdown since its inception was -59.56%, which is greater than JPUS's maximum drawdown of -38.69%. Use the drawdown chart below to compare losses from any high point for VB and JPUS.

Drawdown Indicators

	VB	JPUS	Difference
Max Drawdown Largest peak-to-trough decline	-59.56%	-38.69%	-20.87%
Max Drawdown (1Y) Largest decline over 1 year	-8.98%	-6.90%	-2.08%
Max Drawdown (3Y) Largest decline over 3 years	-25.36%	-15.96%	-9.40%
Max Drawdown (5Y) Largest decline over 5 years	-28.15%	-19.04%	-9.11%
Max Drawdown (10Y) Largest decline over 10 years	-42.05%	-38.69%	-3.36%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.43%	-3.81%	-4.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.44%	1.72%	+0.72%

Volatility

VB vs. JPUS - Volatility Comparison

Vanguard Small-Cap ETF (VB) has a higher volatility of 5.41% compared to JPMorgan Diversified Return US Equity ETF (JPUS) at 3.12%. This indicates that VB's price experiences larger fluctuations and is considered to be riskier than JPUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VB	JPUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.41%	3.12%	+2.29%
Volatility (6M) Calculated over the trailing 6-month period	12.24%	7.70%	+4.54%
Volatility (1Y) Calculated over the trailing 1-year period	16.68%	10.53%	+6.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.80%	14.52%	+6.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.44%	16.77%	+4.67%

VB vs. JPUS - Expense Ratio Comparison

VB has a 0.05% expense ratio, which is lower than JPUS's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VB vs. JPUS - Dividend Comparison

VB's dividend yield for the trailing twelve months is around 1.18%, less than JPUS's 2.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JPUS JPMorgan Diversified Return US Equity ETF	2.00%	2.27%	2.12%	2.26%	2.35%	1.67%	1.94%	2.09%	2.16%	1.25%	0.77%	0.48%
VB Vanguard Small-Cap ETF	1.18%	1.33%	1.30%	1.55%	1.59%	1.24%	1.14%	1.39%	1.67%	1.35%	1.50%	1.48%

Frequently Asked Questions

Can I hold both VB and JPUS in my portfolio?

VB and JPUS have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VB or JPUS?

VB has higher volatility (5.41%) compared to JPUS (3.12%). In terms of maximum drawdown, VB dropped -59.56% vs JPUS's -38.69%.

Which ETF is better, VB or JPUS?

On 10-year performance, JPUS leads with 11.80% vs 11.61% for VB. On fees, VB is cheaper at 0.05% per year. On volatility, JPUS has been the lower-risk option at 3.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VB or JPUS?

Over the 10-year period, JPUS has performed better with a 11.80% return vs 11.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VB or JPUS?

VB is cheaper with a 0.05% expense ratio, compared with 0.18% for JPUS.

Which ETF pays a higher dividend yield, VB or JPUS?

JPUS has the higher dividend yield at 2.00%, compared with 1.18% for VB.

What is the main difference between VB and JPUS?

VB is categorized as Small Cap Blend Equities, while JPUS is Large Cap Blend Equities. VB tracks CRSP US Small Cap Index, while JPUS tracks JPMorgan Diversified Factor US Equity Index. They also come from different issuers: Vanguard and JPMorgan. Their fees differ too: 0.05% for VB and 0.18% for JPUS.

Which has better risk-adjusted returns?

JPUS currently has the higher Sharpe Ratio (2.15 vs 1.73), 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.