JPSE vs MSSM
JPMorgan Diversified Return US Small Cap Equity ETF vs Morgan Stanley Pathway Small-Mid Cap Equity ETF
Which is better, JPSE or MSSM?
Each has led over a different period.
JPSE has a lower expense ratio. JPSE led over 1Y, MSSM over the full window. The two have moved almost in lockstep, correlation 0.92. JPSE is less concentrated, with 3.6% of the fund in its ten largest positions against 6.2%.
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 | JPSE | MSSM |
|---|---|---|
| Expense Ratio | 0.29%Best | 0.62% |
| AUM | $573M | $688M |
| Dividend Yield | 1.46% | 2.81% |
| Holdings | 563 | 2,229 |
| YTD Return | +12.67%Best | +9.46% |
| 1Y Return | +13.72%Best | +13.05% |
| 3Y Return (annualized) | +15.13% | - |
| 5Y Return (annualized) | +6.44% | - |
| Volatility (annualized) | 13.9%Best | 15.4% |
| Max Drawdown | -23.8%Best | -24.2% |
| $10,000 over 1.8 years | $11,455 | $11,591Best |
| Top 10 Weight | 3.6%Best | 6.2% |
| Fund Family | J.P. Morgan Asset Management | Morgan Stanley |
| Category | Equity | Equity |
| Style | Small Cap Blend | Small Cap Blend |
| Inception | Nov 15, 2016 | Dec 9, 2024 |
Volatility and max drawdown, and the $10,000 over 1.8 years row, are measured over the window both funds cover: Dec 9, 2024 to Oct 14, 2026 (1.8 years).
JPSE vs MSSM growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.8 years both funds cover.
JPSE vs MSSM Performance
JPMorgan Diversified Return US Small Cap Equity ETF (JPSE) is an ETF from J.P. Morgan Asset Management and Morgan Stanley Pathway Small-Mid Cap Equity ETF (MSSM) is an ETF from Morgan Stanley. Over the past year JPSE returned +13.72% while MSSM returned +13.05%. Year to date, JPSE is up 12.67% versus a gain of 9.46% for MSSM.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MSSM has been the more volatile fund, with annualized monthly volatility of 15.4% compared with 13.9% for JPSE. 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 -23.8% for JPSE and -24.2% for MSSM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
JPSE charges 0.29% per year while MSSM charges 0.62%. On a $10,000 position that is $29 vs $62 annually, a gap of $33 per year that compounds over a long holding period. On income, JPSE currently yields 1.46% against 2.81% for MSSM.
Holdings Overlap
86.8% of JPSE's money is in holdings MSSM also owns. 20.8% of MSSM's money is in holdings JPSE also owns.
Most of JPSE is already inside MSSM. Owning both mostly buys the same companies twice.
439 positions in common, counted across the 543 positions we hold weights for in JPSE and 1,822 in MSSM, against full books of 563 and 2,229.
What only one of them owns
Our book lists 1,041 positions for MSSM that do not appear in our book for JPSE (73.3% of the fund), and 82 for JPSE that do not appear in MSSM (10.2%).
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.
Top Shared Holdings
| Stock | Weight in JPSE | Weight in MSSM | Difference |
|---|---|---|---|
| VSATViasat Inc | 0.31% | 0.67% | 0.36% |
| PLXSPlexus Corp | 0.30% | 0.53% | 0.23% |
| AVNTAvient Corp | 0.30% | 0.51% | 0.21% |
| CHEFChefs' Warehouse, Inc. | 0.32% | 0.48% | 0.16% |
| BTSGBrightspring Health | 0.30% | 0.47% | 0.17% |
| RHPRyman Hospitality Properties | 0.32% | 0.44% | 0.12% |
| HAEHaemonetics Corp | 0.22% | 0.52% | 0.30% |
| ACAArcosa Inc | 0.33% | 0.41% | 0.08% |
| KARKar Auction Services | 0.26% | 0.44% | 0.18% |
| COCOVITA COCO CO INC/THE | 0.33% | 0.34% | 0.01% |
86.8% of JPSE is already inside MSSM.
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, JPSE or MSSM?
JPSE has an expense ratio of 0.29% while MSSM charges 0.62%. JPSE is the cheaper option, by $33 a year on a $10,000 investment.
Which performed better, JPSE or MSSM?
Over the past year JPSE returned +13.72% vs +13.05% for MSSM, so JPSE leads on 1-year performance. Over the longest common window we track (2 years), JPSE annualized +7.84% vs +8.55% for MSSM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, JPSE or MSSM?
MSSM has been the more volatile fund at 15.4% annualized versus 13.9% for JPSE. Worst drawdown: JPSE -23.8% vs MSSM -24.2%.
Should I hold both JPSE and MSSM?
JPSE and MSSM have a monthly-return correlation of 0.92, 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 JPSE and MSSM?
86.8% of JPSE's money is in holdings MSSM also owns. 20.8% of MSSM's is in holdings JPSE also owns. They hold 439 positions in common, counted across the 543 positions we hold weights for in JPSE and 1,822 in MSSM.
Which pays a higher dividend, JPSE or MSSM?
JPSE yields 1.46% while MSSM yields 2.81%, so MSSM currently pays the higher dividend yield.
Is MSSM better than JPSE?
JPSE has a lower expense ratio. JPSE led over 1Y, MSSM over the full window. The two have moved almost in lockstep, correlation 0.92. JPSE is less concentrated, with 3.6% of the fund in its ten largest positions against 6.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.