AFMC vs JMEE: Grades, Fees and Holdings Compared

First Trust Active Factor Mid Cap ETF

AFMCBNYSE Arca

JPMorgan Small & Mid Cap Enhanced Equity ETF

JMEEANYSE Arca

Overlap

29.4%by weight

Expense ratio

JMEE −0.33pt a year

AFMC0.68%JMEE0.35%

Avg volume · 30D

JMEE 3.1×the volume

AFMC38.3KJMEE121K

3Y return · a year

AFMC +3.8pt

AFMC+22.7%JMEE+18.9%

AFMC vs JMEE Performance

Oct 31, 2025 – Oct 30, 2026

+22.2%AFMC+19.6%JMEE

Expense ratio: AFMC 0.68%; JMEE 0.35%, better
Fund size: AFMC $247M; JMEE $2.94B
1Y total return: AFMC +22.2%, better; JMEE +19.6%
Yield (12M): AFMC 0.70%; JMEE 0.97%, better
Holdings: AFMC 268; JMEE 676
Avg volume (30D): AFMC 38.3K sh; JMEE 121K sh, better
NAV per share: AFMC $40.53; JMEE $74.78
52W range

ETF.net Grade

Pillar letters and Scores for AFMC, JMEE, with each pillar’s weight
Pillar	AFMC	JMEE
Cost30% weight	D36	A84Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	B68Higher	C50
Tradability15% weight	B57Higher	B56
Holdings10% weight	A77	A88Higher
Durability5% weight	A82	A96Higher

Rank among US Active Small/Mid-Cap funds

How we build Categories ›

Same Category. AFMC and JMEE are both graded against the same 47 US Active Small/Mid-Cap funds, so their Grades compare head to head.

US Active Small/Mid-Cap⁠

Category · 47 funds

See all 47 ›

JMEE ranks 4th and AFMC 17th of 47 funds in the US Active Small/Mid-Cap Category.

Rank 1AAVMCAvantis U.S. Mid Cap Equity ETFScore 89
Rank 2AFEMVFidelity Enhanced Mid Cap Value ETFScore 79
Rank 3ADFMCU.S. Micro Cap Portfolio ETFScore 76
Rank 4AJMEEJPMorgan Small & Mid Cap Enhanced Equity ETFScore 72
Rank 5AREMCColumbia Research Enhanced Mid Cap ETFScore 70
Rank 15BSMIGBahl & Gaynor Small/Mid Cap Income Growth ETFScore 56
Rank 17BAFMCFirst Trust Active Factor Mid Cap ETFScore 55
Rank 17BSMCOHilton Small-MidCap Opportunity ETFScore 55

Our read on each fund

ETF.net Research

AFMCBFirst Trust Active Factor Mid Cap ETF

JMEEAJPMorgan Small & Mid Cap Enhanced Equity ETF

In short

AFMC Most factor investing happens in large caps, on autopilot. AFMC blends four factors (value, quality, momentum, low volatility) across roughly 300 mid-cap stocks, actively managed with risk controls layered on top.

JMEE Enhanced indexing, not index hugging for its own sake: JMEE keeps sector weights close to the S&P 1000, then lets proprietary stock rankings pick the names. Roughly 700 holdings at 0.35%.

Stated mandate

AFMC The fund seeks capital appreciation by investing at least 80% of its assets in U.S.-listed equity securities of mid-capitalization companies. It is actively managed using a multi-factor quantitative approach with active risk management.

JMEE The fund seeks returns above the S&P 1000 Index by using proprietary stock rankings and fundamental analysis, while maintaining broadly similar sector weights.

Why people hold it

AFMC Four factors in one wrapper: value, quality, momentum and low volatility, blended together rather than betting the fund on one style.ftportfolios.com
Mid caps get the factor treatment large caps usually hog: at least 80% of assets go to US-listed mid-cap equities.ftportfolios.com
Roughly 300 holdings, so no single name carries the portfolio, with active risk management sitting on top of the quantitative screens.
Trading since 2019 and paying quarterly, so it has a live record through real markets, not a backtest.

JMEE Index shape, active edges. Sector weights stay broadly in line with the S&P 1000 while proprietary rankings and fundamental analysis pick the stocks, spread over roughly 700 names.jpmorgan.com
0.35% with no waiver holding it there, below the median for active small/mid-cap funds. Cheaper than DFMC at 0.43%; AVMC (0.18%) and FEMV (0.23%) undercut it.
Not a 2020s startup: the strategy dates to 1998 and runs a multi-billion-dollar book, so the research process has been through a few full market cycles.
One of the strongest implementations in the active small/mid-cap group.

Worth knowing

AFMC At 0.68%, it runs slightly above the typical active US equity fund and well above large-cap core rivals like AVLC (0.15%) and DFAC (0.17%).
One of the more thinly traded names in its category and smaller by assets, so spreads can widen and limit orders are the standard tool.
Active and multi-factor means no index to hug: the portfolio can look quite different from a plain mid-cap benchmark in any given stretch.

JMEE Active, not a replicator. There is no index to copy, so results ride on JPMorgan's stock rankings rather than a published rulebook.
Benchmark-like sector weights mean it moves with the small and mid-cap market. This is a tilt on that exposure, not a cushion against it.
Distributions land once or twice a year, and it trades moderately rather than heavily, so spreads matter more than in the biggest index funds.

Full AFMC profile⁠

Full JMEE profile⁠

AFMC vs JMEE Holdings

How AFMC and JMEE differ

Overlap by weight

29.4%

Shared holdings make up 68.3% of AFMC and 34.0% of JMEE.

Level by level

Holdings174 in both29.4%
Sector11 Sectors91.6%
Countryby domicile99.1%
Asset classEquity100%

Sector

Sector weights in AFMC and JMEE, widest gap first
Sector	More in AFMCMore in JMEE	AFMC	JMEE
Technology	AFMC +4.5 points	20.5%	16.0%
Consumer Discretionary	AFMC +3.3 points	14.4%	11.1%
Financials	JMEE +1.7 points	14.1%	15.8%
Consumer Staples	JMEE +1.5 points	2.6%	4.1%
Real Estate	JMEE +1.5 points	6.1%	7.6%
Utilities	JMEE +1.4 points	0.8%	2.2%
Communication	JMEE +0.8 points	1.3%	2.1%
Industrials	JMEE +0.8 points	17.1%	17.9%
Health Care	AFMC +0.7 points	11.0%	10.3%
Materials	JMEE +0.4 points	6.1%	6.5%
Energy	JMEE +0.1 points	6.2%	6.3%

Country, concentration and asset class

Country by domicile

Country weights in AFMC and JMEE, widest gap first
Country	More in AFMCMore in JMEE	AFMC	JMEE
United States	JMEE +0.6 points	98.3%	98.9%
Other countries (7)	AFMC +0.6 points	1.7%	1.1%

Concentration

Weight in the 10 largest Holdings

AFMC12.3%
JMEE9.7%

Securities held

AFMC267
JMEE674

Asset class

AFMC: Equity
JMEE: Equity

Holdings

Only in AFMC93
In both174
Only in JMEE500

Only in AFMC

93 securities, 31.5% of AFMC by weight

Casey's General Stores, Inc.1.10%
APA Corporation1.09%
National Fuel Gas Company0.88%
CF Industries Holdings, Inc.0.81%
Enact Holdings, Inc.0.81%
Popular, Inc.0.78%
NetApp, Inc.0.76%
BrightSpring Health Services, Inc.0.74%
Ziff Davis, Inc.0.64%
Park Hotels & Resorts Inc.0.63%
Host Hotels & Resorts, Inc.0.63%
Cathay General Bancorp0.60%
Hancock Whitney Corporation0.60%
Molina Healthcare, Inc.0.57%
Comfort Systems USA, Inc.0.54%
Dillard's, Inc. (Class A)0.54%
Incyte Corporation0.52%
Skyworks Solutions, Inc.0.52%
Dolby Laboratories, Inc.0.51%
Globe Life Inc.0.49%
F5, Inc.0.48%
A.O. Smith Corporation0.46%
Snap-on Incorporated0.45%
Guardant Health, Inc.0.45%
NewMarket Corporation0.44%
Align Technology, Inc.0.43%
Twilio Inc. (Class A)0.42%
Academy Sports and Outdoors, Inc.0.42%
Axcelis Technologies, Inc.0.42%
Cardinal Health, Inc.0.41%
Ralph Lauren Corporation0.40%
Sensata Technologies Holding Plc0.39%
PulteGroup, Inc.0.39%
Tapestry, Inc.0.38%
Flex Ltd.0.38%
Gartner, Inc.0.35%
SEI Investments Company0.35%
Williams-Sonoma, Inc.0.34%
Jabil Inc.0.33%
Bloom Energy Corporation (Class A)0.33%
EMCOR Group, Inc.0.30%
The Gap, Inc.0.29%
Nu Skin Enterprises, Inc. (Class A)0.29%
MSG Knickerbockers Corp. (Class A)0.29%
Zebra Technologies Corporation0.29%
DaVita Inc.0.28%
Central Bancompany, Inc.0.28%
Match Group Inc.0.28%
Cabot Corporation0.28%
10X Genomics, Inc. (Class A)0.28%

Only in JMEE

500 securities, 65.8% of JMEE by weight

JPMorgan Prime Money4.47%
Permian Resources0.44%
Pinnacle Financial0.43%
Clean Harbors Inc Common0.43%
Reinsurance Group of0.39%
Rbc Bearings Inc Common0.39%
Encompass Health Corp0.38%
Medpace Holdings Inc0.38%
Evercore Inc Common Stock0.38%
Xpo Inc Common Stock USD0.38%
Viasat Inc Common Stock0.36%
Nutanix Inc Common Stock0.36%
Performance Food Group Co0.34%
Alarm.com Holdings Inc0.34%
Itt Inc Common Stock USD0.33%
Cubesmart Reit USD 0.010.33%
Digitalocean Holdings0.33%
Iridium Communications0.33%
East West Bancorp Inc0.33%
Dt Midstream Inc Common0.32%
Antero Resources Corp0.32%
Dynatrace Inc0.32%
Mastec Inc Common Stock0.31%
Granite Construction Inc0.31%
Equitable Holdings Inc0.30%
Agree Realty Corp Reit0.30%
Dxp Enterprises Inc/Tx0.30%
Haemonetics Corp Common0.30%
Entegris Inc0.30%
Burlington Stores Inc0.30%
Southwest Gas Holdings0.30%
Talen Energy Corp Common0.29%
Brady Corp Common Stock0.29%
Ally Financial Inc0.29%
Guidewire Software Inc0.29%
Globus Medical Inc Common0.28%
Commercial Metals Co0.28%
Graco Inc Common Stock0.27%
Corebridge Financial Inc0.27%
Mercury Systems Inc0.27%
Radnet Inc Common Stock0.26%
Fidelity National0.26%
First American Financial0.26%
Old National Bancorp/In0.26%
Annaly Capital Management0.26%
Penumbra Inc Common Stock0.26%
Roku Inc Common Stock USD0.25%
Bankunited Inc Common0.25%
Otter Tail Corp Common0.25%
Associated Banc-Corp0.25%

Weight gaps

The 100 widest of 174 Holdings in both funds.

Holding weights in AFMC and JMEE, widest gap first
Holding	More in AFMCMore in JMEE	AFMC	JMEE
Reliance Inc.RS	AFMC +1.32 points	1.85%	0.53%
Exelixis, Inc.EXEL	AFMC +1.10 points	1.31%	0.21%
Apple Hospitality REIT, Inc.APLE	AFMC +1.00 points	1.08%	0.08%
HF Sinclair Corp.DINO	AFMC +1.00 points	1.46%	0.46%
Chord Energy CorporationCHRD	AFMC +0.92 points	1.16%	0.24%
H&R Block, Inc.HRB	AFMC +0.92 points	0.95%	0.03%
RenaissanceRe Holdings Ltd.RNR	AFMC +0.86 points	1.07%	0.21%
Federated Hermes, Inc. (Class B)FHI	AFMC +0.85 points	0.99%	0.14%
MSC Industrial Direct Co., Inc. (Class A)MSM	AFMC +0.81 points	0.93%	0.12%
NetScout Systems, Inc.NTCT	AFMC +0.78 points	0.83%	0.05%
Abercrombie & Fitch Co. (Class A)ANF	AFMC +0.74 points	0.88%	0.14%
Affiliated Managers Group, Inc.AMG	AFMC +0.73 points	0.99%	0.26%
Mueller Industries, Inc.MLI	AFMC +0.73 points	1.00%	0.27%
Matson, Inc.MATX	AFMC +0.72 points	0.98%	0.26%
Paycom Software, Inc.PAYC	AFMC +0.68 points	0.77%	0.09%
BorgWarner Inc.BWA	AFMC +0.64 points	0.94%	0.30%
Science Applications International CorporationSAIC	AFMC +0.62 points	0.74%	0.12%
Crocs, Inc.CROX	AFMC +0.61 points	0.76%	0.15%
Halozyme Therapeutics, Inc.HALO	AFMC +0.59 points	1.16%	0.57%
The Hanover Insurance Group, Inc.THG	AFMC +0.56 points	0.66%	0.10%
MGIC Investment CorporationMTG	AFMC +0.55 points	0.69%	0.14%
Okta, Inc.OKTA	JMEE +0.52 points	0.34%	0.86%
Essent Group Ltd.ESNT	AFMC +0.52 points	0.58%	0.06%
EnerSysENS	AFMC +0.51 points	0.80%	0.29%
Unum GroupUNM	AFMC +0.52 points	0.79%	0.27%
TD SYNNEX CorporationSNX	AFMC +0.50 points	0.89%	0.39%
Genpact LimitedG	AFMC +0.50 points	0.58%	0.08%
UGI CorporationUGI	AFMC +0.48 points	0.77%	0.29%
Victory Capital Holdings, Inc. (Class A)VCTR	AFMC +0.46 points	0.51%	0.05%
EPR PropertiesEPR	AFMC +0.44 points	0.52%	0.08%
EPAM Systems, Inc.EPAM	AFMC +0.44 points	0.49%	0.05%
Cirrus Logic, Inc.CRUS	AFMC +0.43 points	0.51%	0.08%
Oshkosh CorporationOSK	AFMC +0.43 points	0.62%	0.19%
BioMarin Pharmaceutical Inc.BMRN	AFMC +0.42 points	0.64%	0.22%
Coca-Cola Consolidated, Inc.COKE	AFMC +0.41 points	0.60%	0.19%
Teradata CorporationTDC	AFMC +0.41 points	0.48%	0.07%
UFP Industries Inc.UFPI	AFMC +0.40 points	0.49%	0.09%
Stride, Inc.LRN	AFMC +0.38 points	0.47%	0.09%
Lear CorporationLEA	AFMC +0.38 points	0.50%	0.12%
Prosperity Bancshares, Inc.PB	AFMC +0.37 points	0.45%	0.08%
Doximity, Inc. (Class A)DOCS	AFMC +0.38 points	0.47%	0.09%
Jones Lang LaSalle IncorporatedJLL	AFMC +0.37 points	0.78%	0.41%
Gaming and Leisure Properties, Inc.GLPI	AFMC +0.36 points	0.53%	0.17%
Radian Group Inc.RDN	AFMC +0.36 points	0.45%	0.09%
ATI Inc.ATI	AFMC +0.34 points	0.79%	0.45%
Kennametal Inc.KMT	AFMC +0.34 points	0.46%	0.12%
Arrow Electronics, Inc.ARW	AFMC +0.34 points	0.69%	0.35%
Allison Transmission Holdings, Inc.ALSN	AFMC +0.32 points	0.52%	0.20%
DXC Technology CompanyDXC	AFMC +0.32 points	0.38%	0.06%
Avnet, Inc.AVT	AFMC +0.31 points	0.51%	0.20%
Moog Inc.MOG.A	AFMC +0.31 points	0.49%	0.18%
TechnipFMC PlcFTI	AFMC +0.31 points	0.93%	0.62%
Alcoa CorporationAA	AFMC +0.31 points	0.38%	0.07%
Everforth IncorporatedEFOR	AFMC +0.31 points	0.38%	0.07%
Tenet Healthcare CorporationTHC	JMEE +0.29 points	0.13%	0.42%
MAXIMUS, Inc.MMS	AFMC +0.29 points	0.33%	0.04%
First Horizon CorporationFHN	AFMC +0.28 points	0.34%	0.06%
Voya Financial, Inc.VOYA	AFMC +0.29 points	0.31%	0.02%
Curtiss-Wright CorporationCW	JMEE +0.28 points	0.19%	0.47%
The Timken CompanyTKR	AFMC +0.27 points	0.57%	0.30%
Five Below, Inc.FIVE	AFMC +0.25 points	0.57%	0.32%
Toll Brothers, Inc.TOL	AFMC +0.24 points	0.59%	0.35%
Concentrix CorporationCNXC	AFMC +0.24 points	0.29%	0.05%
Omega Healthcare Investors, Inc.OHI	AFMC +0.23 points	0.31%	0.08%
Viavi Solutions Inc.VIAV	AFMC +0.23 points	0.29%	0.06%
Tetra Tech, Inc.TTEK	AFMC +0.22 points	0.41%	0.19%
Ovintiv Inc.OVV	JMEE +0.22 points	0.21%	0.43%
ManpowerGroup Inc.MAN	AFMC +0.21 points	0.25%	0.04%
Chemed CorporationCHE	AFMC +0.21 points	0.41%	0.20%
Macy's, Inc.M	AFMC +0.21 points	0.40%	0.19%
DocuSign, Inc.DOCU	AFMC +0.20 points	0.52%	0.32%
Sabra Health Care REIT, Inc.SBRA	AFMC +0.21 points	0.25%	0.04%
Lyft, Inc. (Class A)LYFT	AFMC +0.20 points	0.29%	0.09%
The Toro CompanyTTC	AFMC +0.21 points	0.41%	0.20%
PVH Corp.PVH	AFMC +0.19 points	0.34%	0.15%
Donaldson Company, Inc.DCI	JMEE +0.19 points	0.19%	0.38%
The New York Times Company (Class A)NYT	JMEE +0.19 points	0.06%	0.25%
KBR, Inc.KBR	AFMC +0.19 points	0.39%	0.20%
Neurocrine Biosciences, Inc.NBIX	JMEE +0.19 points	0.08%	0.27%
Protagonist Therapeutics, Inc.PTGX	JMEE +0.18 points	0.24%	0.42%
Dropbox, Inc. (Class A)DBX	AFMC +0.18 points	0.29%	0.11%
MaxLinear, Inc.MXL	AFMC +0.18 points	0.28%	0.10%
Pegasystems Inc.PEGA	AFMC +0.18 points	0.23%	0.05%
BILL Holdings, Inc.BILL	AFMC +0.17 points	0.31%	0.14%
Woodward, Inc.WWD	JMEE +0.17 points	0.23%	0.40%
US Foods Holding Corp.USFD	JMEE +0.17 points	0.22%	0.39%
Carlisle Companies IncorporatedCSL	AFMC +0.16 points	0.30%	0.14%
Sterling Infrastructure, Inc.STRL	JMEE +0.17 points	0.02%	0.19%
The Cheesecake Factory IncorporatedCAKE	AFMC +0.16 points	0.25%	0.09%
Acuity Inc.AYI	AFMC +0.15 points	0.33%	0.18%
Itron, Inc.ITRI	AFMC +0.15 points	0.20%	0.05%
PBF Energy Inc.PBF	AFMC +0.15 points	0.33%	0.18%
Ryder System, Inc.R	AFMC +0.15 points	0.38%	0.23%
Victoria's Secret & Co.VSXY	AFMC +0.14 points	0.33%	0.19%
Plexus Corp.PLXS	JMEE +0.14 points	0.07%	0.21%
OGE Energy Corp.OGE	JMEE +0.14 points	0.26%	0.40%
Applied Industrial Technologies, Inc.AIT	AFMC +0.14 points	0.31%	0.17%
Maplebear Inc. (Instacart)CART	JMEE +0.13 points	0.11%	0.24%
Mercury General CorporationMCY	AFMC +0.13 points	0.23%	0.10%
Sensient Technologies CorporationSXT	AFMC +0.13 points	0.22%	0.09%

All 267 AFMC holdings⁠All 674 JMEE holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

AFMC vs JMEE Cost

Overpaying AFMC vs JMEE

$6,126

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

AFMC 0.68%
$13,252
JMEE 0.35%
$7,126

Amount$10,000

Years30 years

Cost over time

AFMC 0.68%
JMEE 0.35%
Overpaying

Year by year

Year	AFMC	JMEE	Overpaying
10	$1,215	$634	$581
20	$4,633	$2,454	$2,179
30	$13,252	$7,126	$6,126

Expense ratio

0.68%AFMC
0.35%JMEE, cheaper

JMEE0.35%AFMC0.68%

0.18%1.10%

Middle half of US Active Small/Mid-Cap funds
Median 0.55%

JMEE 7th cheapest of 47 funds

AFMC 30th cheapest of 47 funds

AFMC vs JMEE Dividends

Last 12 months to Oct 30, 2026

Yield (12M): AFMC 0.70%; JMEE 0.97%, better
Payout (12M): AFMC $0.28; JMEE $0.72
Last payment: AFMC $0.02; JMEE $0.72
Ex-dividend: AFMC Sep 24, 2026; JMEE Dec 16, 2025
Paid on: AFMC Sep 30, 2026; JMEE Dec 18, 2025
Frequency: AFMC Quarterly; JMEE Annual

Distribution history

Per share, 2019 to 2026, same scale for both

AFMCQuarterly · 25 paymentsAll AFMC payments⁠

JMEEAnnual · 4 paymentsAll JMEE payments⁠

AFMC vs JMEE Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: AFMC 15.6%, betterJMEE 15.8%
Return per unit of riskSharpe ratio, 3 years: AFMC 1.12, betterJMEE 0.90
Worst fallMax drawdown, 5 years: AFMC −25.4%JMEE −25.4%since May 2022
Market sensitivityBeta, 5 years: AFMC 0.99JMEE 1.10; Market = 1

AFMC and JMEE in the news

All news⁠

Category Review
Active small- and mid-cap funds trail the S&P 500 after a hard third quarter
Updated Oct 14, 2026JMEE
ETF Filings
Vanguard files for a U.S. small-mid cap active ETF after last year’s three reached $161 million
Sep 21, 2026JMEE
New ETFs
PGIM lists two more Jennison core ETFs after a May launch that still holds $7 million
Sep 8, 2026JMEE

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AFMC vs JMEE

In short

Stated mandate

Why people hold it