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JPEF vs SPY: Differences, Returns & Fees

JPEF and SPY hold 42% of their weight in the same names, and SPY returned +17.3% over the year. Net assets: $2.1bn on Oct 9, 2026 for JPMorgan Equity Focus ETF, and $817.2bn on Oct 8, 2026 for SPDR S&P 500 ETF Trust.

SPY costs 0.35 points a year less; their one-year returns differ by 4.9 points; SPY is far larger, $817.2bn against $2.0bn.

JPEF vs SPY: Differences, Returns & Fees
JPEFSPY
Expense ratio0.44%0.09%
Net assets, as of Oct 8, 2026$2.0bn$817.2bn
Total return, 1 year+12.4%+17.3%
What it tracksNo index, actively managedS&P 500 Index
Holdings in common42%
Top ten holdings, share of the fund45.6%39.1%

Holdings in common uses holdings dated Oct 8, 2026 and Oct 9, 2026.

+12.4%
JPEF total return, 1 year
+17.3%
SPY total return, 1 year
0.44%
JPEF expense ratio
0.09%
SPY expense ratio

What they hold in common

By the books each fund has filed, JPEF and SPY hold 42% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Oct 8, 2026 and Oct 9, 2026.

half

42% in common

Positions both hold, largest shared weight first
Holding JPEF SPY
NVIDIA CORP COMMON STOCK 9.40% 8.34%
APPLE INC COMMON STOCK 5.61% 7.42%
MICROSOFT CORP COMMON 5.14% 5.80%
AMAZON.COM INC COMMON 4.62% 3.73%
BROADCOM INC COMMON 2.82% 2.56%
ALPHABET INC-CL C 6.31% 2.45%
META PLATFORMS INC 2.12% 2.38%
MICRON TECHNOLOGY INC 2.31% 1.75%
ADVANCED MICRO DEVICES 2.66% 1.51%
BERKSHIRE HATHAWAY INC 2.45% 1.42%
EXXONMOBIL HOLDINGS CORP 2.60% 1.04%
JOHNSON & JOHNSON 3.12% 0.92%
Only in JPEF
CANADIAN PACIFIC KANSAS CITY LTD 1.70%
SNOWFLAKE INC COMMON 1.34%
NEUROCRINE BIOSCIENCES 0.70%
SPACE EXPLORATION TECHNOLOGIES CORP 0.24%
Only in SPY
ALPHABET INC CL A 3.06%
TESLA INC 1.58%
ELI LILLY + CO 1.40%
JPMORGAN CHASE + CO 1.32%
VISA INC CLASS A SHARES 0.96%
INTEL CORP 0.80%
WALMART INC 0.74%
ABBVIE INC 0.72%

Check overlap with more funds →

On the same fields

JPEF
JPMorgan Equity Focus ETF
SPY
SPDR S&P 500 ETF Trust
Where it sits Stock ETF Stock ETF
Issuer JPMorgan State Street
What it is Actively managed Tracks the S&P 500
Total return, 1 year +12.4% +17.3%
Its benchmark over the same days +17.3% (VOO) +17.3% (VOO)
Gap to its benchmark −4.9 pts vs VOO −0.1 pts vs VOO
Expense ratio 0.44% 0.09%
Already in the S&P 500 93.7% 99.8%
Holdings 40 504
Net assets, JPEF as of Oct 9, 2026 and SPY as of Oct 8, 2026 $2.1bn $817.2bn

JPEF and SPY on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.

About JPEF

JPEF is actively managed and tracks no index. Over the year to Oct 9, 2026 it returned +12.4% with distributions reinvested, against +17.3% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.44% a year. By its holdings published by its issuer for Oct 9, 2026, 94% of the fund by weight is stocks the S&P 500 also holds, across 40 positions, with the top ten at 45.6%.

About SPY

SPY tracks the S&P 500. Over the year to Oct 9, 2026 it returned +17.3% with distributions reinvested, against +17.3% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer for Oct 8, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 39.1%.

Questions people ask

Which returned more over the last year, JPEF or SPY?
In the year to Oct 9, 2026, with distributions reinvested, JPEF returned +12.4% and SPY +17.3%.
Which is cheaper, JPEF or SPY?
SPY is cheaper, by 0.35 percentage points a year. That is about $35 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do JPEF and SPY overlap with the S&P 500?
By their latest filed holdings, 94% of JPEF and 100% of SPY by weight is stocks the S&P 500 already holds.
Other comparisons
JPEF vs VTIJPEF vs VOOJPEF vs SPYMJPEF vs VIGSPY vs USPXCGCV vs SPYSPY vs TMFCLCAP vs SPY
JPEF on its own →SPY on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
JPEF filings on SEC EDGAR ↗JPEF prospectus with the expense ratio (SEC) ↗JPMorgan website ↗SPY filings on SEC EDGAR ↗State Street website ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. 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, JPEF against SPY, data as of Oct 9, 2026. https://etfiq.com/compare/any/jpef-vs-spy

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.