BELT vs JPEF
iShares US Select Equity Active ETF vs JPMorgan Equity Focus ETF
Which is better, BELT or JPEF?
Each has led over a different period.
JPEF has a lower expense ratio. BELT led over 1Y, JPEF over the full window. The two have moved almost in lockstep, correlation 0.90. JPEF is less concentrated, with 45.8% of the fund in its ten largest positions against 68.5%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BELT | JPEF |
|---|---|---|
| Expense Ratio | 0.75% | 0.44%Best |
| AUM | $10M | $2.1B |
| Dividend Yield | 0.02% | 0.64% |
| Holdings | 20 | 84 |
| Volatility (annualized) | 18.8% | 11.3%Best |
| Max Drawdown | -23.1% | -18.1%Best |
| $10,000 over 2.1 years | $13,054 | $13,274Best |
| Top 10 Weight | 68.5% | 45.8%Best |
| Fund Family | BlackRock, Inc. (US) | J.P. Morgan Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jun 17, 2024 | Mar 10, 2023 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 63 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. BELT has data through Aug 12, 2026 and JPEF through Oct 14, 2026.
Volatility and max drawdown, and the $10,000 over 2.1 years row, are measured over the window both funds cover: Jun 18, 2024 to Aug 12, 2026 (2.1 years).
Risk: Volatility and Drawdowns
BELT has been the more volatile fund, with annualized monthly volatility of 18.8% compared with 11.3% for JPEF. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -23.1% for BELT and -18.1% for JPEF. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
BELT charges 0.75% per year while JPEF charges 0.44%. On a $10,000 position that is $75 vs $44 annually, a gap of $31 per year that compounds over a long holding period. On income, BELT currently yields 0.02% against 0.64% for JPEF.
Holdings Overlap
38.4% of BELT's money is in holdings JPEF also owns. 23.8% of JPEF's money is in holdings BELT also owns.
The two portfolios partly overlap.
The two holdings books were reported 57 days apart, BELT as of Aug 5, 2026 and JPEF as of Oct 1, 2026, so some of the difference between them is the time between the two reports rather than the funds.
6 positions in common, counted across the 19 positions we hold weights for in BELT and 41 in JPEF, against full books of 20 and 84.
What only one of them owns
Our book lists 34 positions for JPEF that do not appear in our book for BELT (74.5% of the fund), and 11 for BELT that do not appear in JPEF (52.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
38.4% of BELT is already inside JPEF.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BELT or JPEF?
BELT has an expense ratio of 0.75% while JPEF charges 0.44%. JPEF is the cheaper option, by $31 a year on a $10,000 investment.
Which is riskier, BELT or JPEF?
BELT has been the more volatile fund at 18.8% annualized versus 11.3% for JPEF. Worst drawdown: BELT -23.1% vs JPEF -18.1%.
Should I hold both BELT and JPEF?
BELT and JPEF have a monthly-return correlation of 0.90, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between BELT and JPEF?
38.4% of BELT's money is in holdings JPEF also owns. 23.8% of JPEF's is in holdings BELT also owns. They hold 6 positions in common, counted across the 19 positions we hold weights for in BELT and 41 in JPEF.
Which pays a higher dividend, BELT or JPEF?
BELT yields 0.02% while JPEF yields 0.64%, so JPEF currently pays the higher dividend yield.
Is JPEF better than BELT?
JPEF has a lower expense ratio. BELT led over 1Y, JPEF over the full window. The two have moved almost in lockstep, correlation 0.90. JPEF is less concentrated, with 45.8% of the fund in its ten largest positions against 68.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.