Data as of Oct 28, 2026.
FPX vs JSMD: Differences, Returns & Fees
Over the year to Oct 28, 2026, FPX returned +2.9% to JSMD's +6.2%; 5% of their weight is in the same names.
askIQ about this page
askIQ about FPX and JSMD
Net assets: $1.4bn on Oct 27, 2026 for First Trust US Equity Opportunities ETF, and $1.1bn on Jul 31, 2026 for Janus Henderson Small/Mid Cap Growth Alpha ETF.
Pair scorecard
JSMD costs 0.27 points a year less; their one-year returns differ by 3.3 points.
| Measure | FPX | JSMD |
|---|---|---|
| Return | ||
| Total return, 1 year | +2.9% | +6.2% |
| Drawdown | ||
| Below its high | 15.9%, high on Jun 30, 2026 | 10.9%, high on Jun 30, 2026 |
| Benchmark | ||
| What it tracks | IPOX -100 U.S. Index | No index, actively managed |
| Cost and size | ||
| Expense ratio | 0.57% | 0.30% |
| Net assets, FPX as of Oct 27, 2026 and JSMD as of Jul 31, 2026 | $1.4bn | $1.1bn |
| Holdings | ||
| Holdings in common | 5% | |
| Top ten holdings, share of the fund | 46.4% | 16.6% |
Holdings in common uses holdings dated Jul 31, 2026 and Oct 27, 2026. Method
Risk and return
Mar 4, 2016 to Oct 23, 2026 · 555 weekly returnsEach against its own benchmark: FPX against IVV, Jun 2, 2006 to Oct 23, 2026; JSMD against IWV, Mar 4, 2016 to Oct 23, 2026.
FPX returned slightly more: +267.2% to +246.3%. JSMD swung slightly less: 21.6% to 23.5%. JSMD fell less at its worst: −36.8% to −43.0%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | FPX | JSMD | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +267.2% | +246.3% | FPX (slight) | Price change plus distributions, reinvested. |
| Annualized | +13.0% | +12.3% | FPX (slight) | Total return as a yearly rate. |
| Price return | +247.1% | +230.9% | FPX (slight) | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 23.5% | 21.6% | JSMD (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 16.1% | 14.6% | JSMD (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −43.0% | −36.8% | JSMD | Deepest fall from a high to the low after it. |
| Upside capture | 122.3% | 111.8% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 108.8% | 109.3% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 1.13 | 1.12 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.77 | 0.78 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.54 | 0.54 | Tie | Return above Treasury bills per unit of volatility. |
| Sortino | 0.78 | 0.79 | Tie | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.108 | 0.104 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.30 | 0.34 | JSMD | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | IVV | IWV | The ETF each fund is measured against. | |
| Alpha | +0.4% a year | −2.6% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.17 | −0.85 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −4.3% to +5.1% | −8.7% to +3.4% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | 0.16 | −0.11 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 11.1% | 10.2% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 555 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, FPX and JSMD hold 5% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Oct 27, 2026.
half
5% in common
Only in one fund ↓
Side by side
FPX and JSMD on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
FPX and JSMD are built for the same job. How do they differ in cost, holdings and results?
- What each follows. FPX follows IPOX -100 U.S. Index and JSMD follows No index, actively managed.
- Holdings in common. 5% of the weight is in the same securities (holdings dated Oct 27, 2026 and Jul 31, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 FPX returned +2.9% and JSMD +6.2% with distributions reinvested, a gap of 3.3 points.
Data as of Oct 28, 2026.
The two-page PDF for this pair is coming. Save the comparison to follow its changes. Free. It needs an email sign-in, once.
FPX
FPX tracks an index. Over the year to Oct 28, 2026 it returned +2.9% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.57% a year. By its holdings published by its issuer for Oct 27, 2026, 51% of the fund by weight is stocks the S&P 500 also holds, across 99 positions, with the top ten at 46.4%. It sat 15.9% below its high of Jun 30, 2026 on Oct 28, 2026.
Over the year to Oct 28, 2026 it returned +6.2% with distributions reinvested, against +13.3% for its benchmark, the Russell 3000 Index.
JSMD is actively managed and tracks no index. The prospectus expense ratio is 0.30% a year. By its holdings filed for Jul 31, 2026, 2% of the fund by weight is stocks the S&P 500 also holds, across 126 positions, with the top ten at 16.6%. It sat 10.9% below its high of Jun 30, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, FPX or JSMD?
- In the year to Oct 28, 2026, with distributions reinvested, FPX returned +2.9% and JSMD +6.2%.
- Which is cheaper, FPX or JSMD?
- JSMD is cheaper, by 0.27 percentage points a year. That is about $27 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Cite this pageCitation, APA and Markdown
ETFIQ, FPX against JSMD, data as of Oct 28, 2026. https://etfiq.com/compare/any/fpx-vs-jsmd
ETFIQ. (Oct 28, 2026). FPX against JSMD. Retrieved from https://etfiq.com/compare/any/fpx-vs-jsmd
[FPX against JSMD (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/fpx-vs-jsmd)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.