VIOG vs. JPSE

Last updated Jun 4, 2026

VIOG (Vanguard S&P Small-Cap 600 Growth ETF) and JPSE (JPMorgan Diversified Return U.S. Small Cap Equity ETF) are both Small Cap Growth Equities funds - VIOG 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, VIOG returned 5.47%/yr vs 7.07%/yr for JPSE. With a 0.95 correlation, they move nearly in lockstep. VIOG charges 0.15%/yr vs 0.29%/yr for JPSE.

Performance

VIOG vs. JPSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P Small-Cap 600 Growth ETF (VIOG) 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 investments are quite close, with VIOG having a 15.37% return and JPSE slightly higher at 15.46%.

VIOG

• 1D: -0.65%
• 1M: 0.86%
• YTD: 15.37%
• 6M: 13.49%
• 1Y: 26.34%
• 3Y*: 14.40%
• 5Y*: 5.47%
• 10Y*: 10.83%

JPSE

• 1D: -1.03%
• 1M: 0.95%
• YTD: 15.46%
• 6M: 14.54%
• 1Y: 31.79%
• 3Y*: 15.24%
• 5Y*: 7.07%
• 10Y*: —

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

VIOG vs. JPSE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIOG Vanguard S&P Small-Cap 600 Growth ETF	15.37%	5.40%	9.23%	16.92%	-21.14%	22.49%	19.68%	21.16%	-4.57%	14.70%
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF	15.46%	8.77%	8.07%	15.87%	-14.40%	29.31%	12.49%	22.95%	-8.61%	14.38%

Correlation

The correlation between VIOG and JPSE is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Nov 18, 2016	0.95

The correlation between VIOG and JPSE has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

VIOG vs. JPSE - Sectors Allocation Comparison

Sectors	VIOG	JPSE
Technology	19.7%	14.6%
Industrials	19.5%	11.7%
Healthcare	14.6%	9.0%
Financial Services	13.7%	9.7%
Consumer Cyclical	10.9%	7.9%
Real Estate	6.6%	13.1%
Energy	4.1%	8.9%
Consumer Defensive	3.3%	8.1%
Basic Materials	3.1%	9.6%
Communication Services	2.7%	2.7%
Utilities	1.7%	4.8%

Return for Risk

VIOG vs. JPSE — Risk / Return Rank

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

VIOG

VIOG Risk / Return Rank: 49
VIOG Sharpe Ratio Rank: 42
VIOG Sortino Ratio Rank: 45
VIOG Omega Ratio Rank: 40
VIOG Calmar Ratio Rank: 58
VIOG Martin Ratio Rank: 57

JPSE

JPSE Risk / Return Rank: 66
JPSE Sharpe Ratio Rank: 59
JPSE Sortino Ratio Rank: 61
JPSE Omega Ratio Rank: 56
JPSE Calmar Ratio Rank: 78
JPSE Martin Ratio Rank: 75

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.

VIOG vs. JPSE - Risk-Adjusted Trends Comparison

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

	VIOG	JPSE	Difference
Sharpe ratio: Return per unit of total volatility	1.52	2.00	-0.48
Sortino ratio: Return per unit of downside risk	2.27	2.89	-0.62
Omega ratio: Gain probability vs. loss probability	1.27	1.34	-0.08
Calmar ratio: Return relative to maximum drawdown	2.93	3.99	-1.06
Martin ratio: Return relative to average drawdown	10.01	14.20	-4.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VIOG vs. JPSE - Sharpe Ratio Comparison

The current VIOG Sharpe Ratio is 1.52, which is comparable to the JPSE Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of VIOG 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

	VIOG	JPSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.52	2.00	-0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	0.35	-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	0.60	0.49	+0.11

Drawdowns

VIOG vs. JPSE - Drawdown Comparison

The maximum VIOG drawdown since its inception was -41.73%, roughly equal to the maximum JPSE drawdown of -43.02%. Use the drawdown chart below to compare losses from any high point for VIOG and JPSE.

Drawdown Indicators

	VIOG	JPSE	Difference
Max Drawdown Largest peak-to-trough decline	-41.73%	-43.02%	+1.29%
Max Drawdown (1Y) Largest decline over 1 year	-9.03%	-8.00%	-1.03%
Max Drawdown (3Y) Largest decline over 3 years	-27.35%	-25.49%	-1.86%
Max Drawdown (5Y) Largest decline over 5 years	-29.15%	-25.56%	-3.59%
Max Drawdown (10Y) Largest decline over 10 years	-41.73%	—	—
Current Drawdown Current decline from peak	-1.47%	-1.37%	-0.10%
Average Drawdown Average peak-to-trough decline	-7.62%	-7.42%	-0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.64%	2.24%	+0.40%

Volatility

VIOG vs. JPSE - Volatility Comparison

Vanguard S&P Small-Cap 600 Growth ETF (VIOG) and JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE) have volatilities of 4.61% and 4.52%, 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

	VIOG	JPSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.61%	4.52%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	12.44%	10.90%	+1.54%
Volatility (1Y) Calculated over the trailing 1-year period	17.48%	16.00%	+1.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.47%	20.08%	+1.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.84%	21.82%	+1.02%

VIOG vs. JPSE - Expense Ratio Comparison

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

Dividends

VIOG vs. JPSE - Dividend Comparison

VIOG's dividend yield for the trailing twelve months is around 0.84%, less than JPSE's 1.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF	1.38%	1.62%	1.66%	1.76%	1.55%	1.24%	1.32%	1.23%	1.18%	0.74%	0.14%	0.00%
VIOG Vanguard S&P Small-Cap 600 Growth ETF	0.84%	1.04%	1.03%	1.15%	1.17%	0.69%	0.68%	1.09%	0.76%	0.87%	0.92%	1.04%

Frequently Asked Questions

Can I hold both VIOG and JPSE in my portfolio?

With a correlation of 0.94, VIOG 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, VIOG or JPSE?

VIOG has higher volatility (4.61%) compared to JPSE (4.52%). In terms of maximum drawdown, VIOG dropped -41.73% vs JPSE's -43.02%.

Which ETF is better, VIOG or JPSE?

On 5-year performance, JPSE leads with 7.07% vs 5.47% for VIOG. On fees, VIOG 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, VIOG or JPSE?

Over the 5-year period, JPSE has performed better with a 7.07% return vs 5.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VIOG or JPSE?

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

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

JPSE has the higher dividend yield at 1.38%, compared with 0.84% for VIOG.

What is the main difference between VIOG and JPSE?

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

Which has better risk-adjusted returns?

JPSE currently has the higher Sharpe Ratio (2.00 vs 1.52), 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.