AVSC vs JPSV

AVSCAAvantis U.S. Small Cap Equity ETF

JPSVCJPMorgan Active Small Cap Value ETF

In short

AVSC Avantis's whole-field small cap fund: roughly 1,500 US small companies in one ticker, run by the manager's own rules rather than a published index, at 0.25% a year.

JPSV A stock picker's cut of small-cap value: J.P. Morgan screens the Russell 2000 Value universe for quality and holds roughly 110 names, at the same 0.55% fee typical of active value funds.

Stated mandate

AVSC The fund seeks long-term capital appreciation and invests primarily in a diversified group of U.S. small-cap companies across market sectors and industries, with at least 80% of assets normally invested in U.S. small-cap equity securities.

JPSV The fund seeks long-term capital appreciation through a portfolio focused primarily on high-quality U.S. small-cap value equity securities.

Why people hold it

• AVSC 0.25% a year versus a 0.52% median for active US small-cap funds. Less than half the going rate for a hands-on manager.
• Roughly 1,500 holdings spread across sectors and industries, so one small-cap blowup barely dents the fund.
• One of the strongest all-round implementations in the active US small-cap group on cost, portfolio build and ease of trading.
• Pays quarterly, trades with steady daily volume, and pulled in over a billion dollars since its 2022 launch.

• JPSV Active by design: the mandate pairs a value screen with a quality screen, hunting cheap small caps with sturdy fundamentals rather than whatever simply looks statistically cheap.jpmorgan.com
• The 0.55% expense ratio sits right at the median for its active value peer group, so the stock picking is not priced at a premium to comparable funds.
• Roughly 110 holdings: tight enough for individual picks to register, wide enough that no single name runs the portfolio.
• It measures itself against the Russell 2000 Value Index, giving a plain yardstick for what the managers add or subtract versus vanilla small-cap value.jpmorgan.com

Worth knowing

• AVSC Undiluted small-cap equity, kept at least 80% invested in the asset class. It rides the small-cap cycle with deeper swings than a large-cap fund.
• No declared index to check it against. The manager's stock-selection rules are the product, so you are buying a process, not a published benchmark.
• Its sibling AVUV works the value slice of the same universe at the same 0.25%. Own both and you are doubling up on overlapping small-cap names.

• JPSV Thinly traded on a small asset base, so a chunk of the real cost can show up in the bid-ask spread instead of the expense ratio.
• Launched in 2023, which is a short record for judging an active manager through a full small-cap cycle.
• The highest-scoring funds in its cohort are index-style value ETFs like WTV and AVLV that charge a fraction of this fee, though they fish in large caps, not small.

Full AVSC profile⁠

Full JPSV profile⁠