BBUS vs SPTM: Grades, Fees and Holdings Compared

JPMorgan BetaBuilders U.S. Equity ETF

BBUSACboe

State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF

SPTMANYSE Arca

Overlap

90.3%by weight

Expense ratio

BBUS −0.01pt a year

BBUS0.02%SPTM0.03%

Avg volume · 30D

SPTM 2.1×the volume

BBUS223KSPTM467K

5Y return · a year

SPTM +0.1pt

BBUS+11.2%SPTM+11.3%

BBUS vs SPTM Performance

Nov 3, 2021 – Nov 3, 2026

+70.4%BBUS+70.8%SPTM

Expense ratio: BBUS 0.02%, better; SPTM 0.03%
Fund size: BBUS $9.59B; SPTM $14B
1Y total return: BBUS +10.9%; SPTM +12.0%, better
Yield (12M): BBUS 1.01%; SPTM 1.07%, better
Holdings: BBUS 470; SPTM 1509
Avg volume (30D): BBUS 223K sh; SPTM 467K sh, better
NAV per share: BBUS $135.41; SPTM $91.14
52W range

ETF.net Grade

Pillar letters and Scores for BBUS, SPTM, with each pillar’s weight
Pillar	BBUS	SPTM
Cost30% weight	A96Higher	A75
Mission25% weight	A98	A100Higher
Risk15% weight	C44	B57Higher
Tradability15% weight	D35	B69Higher
Holdings10% weight	D36	C49Higher
Durability5% weight	D28	B63Higher

Rank among Total US Market funds

How we build Categories ›

Same Category. BBUS and SPTM are both graded against the same 10 Total US Market funds, so their Grades compare head to head.

Total US Market⁠

Category · 10 funds

See all 10 ›

SPTM ranks 3rd and BBUS 5th of 10 funds in the Total US Market Category.

Rank 1AITOTiShares Core S&P Total U.S. Stock Market ETFScore 78
Rank 2ASCHBSchwab U.S. Broad Market ETFScore 76
Rank 3ASPTMState Street SPDR Portfolio S&P 1500 Composite Stock Market ETFScore 74
Rank 4AVTIVanguard Morningstar Total Stock Market ETFScore 73
Rank 5ABBUSJPMorgan BetaBuilders U.S. Equity ETFScore 70
Rank 6BDFUSDimensional U.S. Equity ETFScore 65

Our read on each fund

ETF.net Research

BBUSAJPMorgan BetaBuilders U.S. Equity ETF

SPTMAState Street SPDR Portfolio S&P 1500 Composite Stock Market ETF

In short

BBUS JPMorgan's two-basis-point answer to the total-market question: it undercuts the household-name index funds on fee, then holds a tighter book of roughly 500 large and mid caps instead of reaching for the whole market's tail.

SPTM One ticker for the whole US market ladder: about 1,500 large, mid and small caps from S&P's composite index at 3 basis points. Running since 2000, at half the fee of the typical total-market rival.

Stated mandate

BBUS The fund seeks broad U.S. equity exposure through an indexed, passive approach tracking the Morningstar US Target Market Exposure Index.

SPTM The fund seeks to provide investment results that generally correspond to the total return of the S&P Composite 1500 Index, offering broad U.S. equity exposure across market capitalizations.

Why people hold it

BBUS 0.02% a year makes it the cheapest fund in its total-market cohort, under the 0.03% charged by VTI, SCHB and ITOT and well under the 0.06% cohort median.
Plain passive plumbing: it follows the Morningstar US Target Market Exposure Index with very little drift, no factor tilts and no manager discretion in the mix.jpmorgan.com
A multi-billion-dollar fund backed by J.P. Morgan's ETF desk, listed since 2019 and paying distributions quarterly.

SPTM 0.03% a year, half the 0.06% median for total-market rivals. In a category where cost is most of the argument, it sits in the cheap tier.
One job, done plainly: large, mid and small cap US stocks in a single wrapper, about 1,500 names, no sector bets or style tilts, and it has tracked its index closely.
Launched in 2000, so it has traded through the dot-com bust, 2008 and 2020. A multi-billion-dollar fund that changes hands actively every day.
Stands in the upper half of its total-market peer group next to VTI, SCHB and ITOT, and matches ITOT's declared index at the same 0.03% fee.

Worth knowing

BBUS "US equity" here means roughly 500 large and mid cap names, so the deep small-cap tail that the broadest funds in this group carry is thinner.jpmorgan.com
Volume is moderate rather than heavy for the category, so spreads can run wider than at the most heavily traded total-market names.
A 2019 launch gives it a shorter live record than the total-market veterans it undercuts on price.

SPTM Liquidity is solid rather than category-leading. The largest total-market funds trade heavier, so spreads here can run a little wider on big or hurried orders.
US only. International stocks sit outside the mandate, so global exposure has to come from somewhere else in the portfolio.
Owning the whole US market means owning its drawdowns: no buffer, no hedge, no cash cushion. Cash comes back as a quarterly distribution.

Full BBUS profile⁠

Full SPTM profile⁠

BBUS vs SPTM Holdings

How BBUS and SPTM differ

Overlap by weight

90.3%

Shared holdings make up 97.0% of BBUS and 90.3% of SPTM.

Level by level

Holdings426 in both90.3%
Sector11 Sectors94.6%
Asset classEquity100%
Countryby domicile99.9%

Sector

Sector weights in BBUS and SPTM, widest gap first
Sector	Gap	BBUS	SPTM
Technology	BBUS +3.8 points	40.6%	36.8%
Communication	BBUS +1.5 points	9.9%	8.4%
Industrials	SPTM +1.0 points	8.0%	9.0%
Financials	SPTM +1.0 points	11.2%	12.2%
Health Care	SPTM +0.7 points	9.1%	9.8%
Consumer Discretionary	SPTM +0.5 points	8.7%	9.2%
Real Estate	SPTM +0.5 points	1.6%	2.1%
Energy	SPTM +0.5 points	3.4%	3.9%
Materials	SPTM +0.5 points	1.5%	2.0%
Consumer Staples	SPTM +0.5 points	4.2%	4.7%
Utilities	SPTM +0.2 points	1.8%	2.0%

Country, concentration and asset class

Country by domicile

Country weights in BBUS and SPTM, widest gap first
Country	Gap	BBUS	SPTM
United States	SPTM +0.1 points	99.4%	99.5%
Switzerland	BBUS +0.1 points	0.3%	0.2%
Brazil	BBUS +0.1 points	0.1%	0.0%
China	Same weight	0.1%	0.1%
United Kingdom	SPTM +0.1 points	0.0%	0.1%
Mexico	Same weight	0.1%	0.1%
Ireland	Same weight	0.0%	0.0%
Sweden	Same weight	0.0%	0.0%
India	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

BBUS36.7%
SPTM34.2%

Securities held

BBUS468
SPTM1,506

Asset class

BBUS: Equity
SPTM: Equity

Holdings

Only in BBUS42
In both426
Only in SPTM1,080

Only in BBUS

42 securities, 3.0% of BBUS by weight

JPMorgan U.s. Government0.64%
Space Exploration0.42%
Snowflake Inc Common0.15%
Trane Technologies PLC0.14%
Elevance Health Inc0.13%
Cloudflare Inc Common0.13%
Mercadolibre Inc Common0.12%
Cheniere Energy Inc0.10%
Becton Dickinson & Co0.08%
Strategy Inc Common Stock0.07%
Block Inc Common Stock0.06%
Astera Labs Inc Common0.05%
Sunbelt Rentals Holdings0.05%
Rocket Lab Corp Common0.04%
Roblox Corp Common Stock0.04%
Fiserv Inc Common Stock0.04%
Mongodb Inc Common Stock0.04%
Royalty Pharma PLC Common0.04%
Credo Technology Group0.04%
Insmed Inc Common Stock0.04%
Markel Group Inc Common0.04%
Zscaler Inc Common Stock0.04%
Steris PLC Common Stock0.04%
Lpl Financial Holdings0.04%
Zoom Communications Inc0.03%
Alnylam Pharmaceuticals0.03%
Liberty Media Corp0.03%
Sofi Technologies Inc0.03%
Heico Corp Common Stock0.03%
First Citizens0.03%
Coupang Inc Common Stock0.03%
Southern Copper Corp0.03%
SS&C Technologies0.03%
Coreweave Inc Common0.03%
Heico Corp Common Stock0.02%
Medline Inc Common Stock0.02%
Circle Internet Group0.02%
Flutter Entertainment0.02%
Vivmark Residential Reit0.01%
Liberty Media Corp<0.01%
Lennar Corp Common Stock<0.01%
Tpg Inc Right USD0.00%

Only in SPTM

1,080 securities, 9.4% of SPTM by weight

Trane Technologies PLC0.13%
Elevance Health Inc0.13%
Moderna Inc0.11%
Becton Dickinson and Co0.07%
Vivmark Residential0.07%
Block Inc0.06%
Cboe Global Markets Inc0.06%
Okta Inc0.04%
Williams Sonoma Inc0.04%
Fiserv Inc0.04%
United Therapeutics Corp0.04%
Qnity Electronics Inc0.04%
Technipfmc PLC0.04%
Steris PLC0.03%
Ati Inc0.03%
Tapestry Inc0.03%
Casey’s General Stores Inc0.03%
Xpo Inc0.03%
Viatris Inc0.03%
Us Foods Holding Corp0.03%
Skyworks Solutions Inc0.03%
Reliance Inc0.03%
Tenet Healthcare Corp0.03%
Nvent Electric PLC0.03%
Roku Inc0.03%
Best Buy Co Inc0.03%
Zebra Technologies Corp Class A0.03%
Roivant Sciences Ltd0.03%
Jones Lang Lasalle Inc0.03%
Woodward Inc0.03%
Royal Gold Inc0.03%
Curtiss Wright Corp0.03%
Exelixis Inc0.03%
Idex Corp0.03%
Host Hotels & Resorts Inc0.03%
Permian Resources Corp Class A0.03%
Cf Industries Holdings Inc0.03%
Itt Inc0.03%
Reinsurance Group of America0.03%
Allegion PLC0.03%
Gen Digital Inc0.03%
Ovintiv Inc0.03%
Apa Corp0.03%
Td Synnex Corp0.03%
Ball Corp0.03%
Lincoln Electric Holdings0.03%
Rb Global Inc0.03%
Nutanix Inc A0.03%
Nordson Corp0.03%
Hf Sinclair Corp0.03%

Weight gaps

The 100 widest of 426 Holdings in both funds.

Holding weights in BBUS and SPTM, widest gap first
Holding	Gap	BBUS	SPTM
Apple Inc Common StockAAPL	BBUS +0.56 points	7.57%	7.01%
Microsoft Corp CommonMSFT	BBUS +0.43 points	5.78%	5.35%
Amazon.com Inc CommonAMZN	BBUS +0.29 points	3.72%	3.43%
NVIDIA Corp Common StockNVDA	BBUS +0.28 points	7.22%	6.94%
Alphabet Inc-Cl A -GOOGL	BBUS +0.19 points	2.51%	2.32%
Meta Platforms Inc CommonMETA	BBUS +0.15 points	2.05%	1.90%
Alphabet Inc-Cl C -GOOG	BBUS +0.15 points	2.03%	1.88%
Broadcom Inc CommonAVGO	BBUS +0.14 points	2.31%	2.17%
Tesla Inc Common StockTSLA	BBUS +0.13 points	1.75%	1.62%
Eli Lilly and CompanyLLY	BBUS +0.12 points	1.73%	1.61%
Micron Technology IncMU	BBUS +0.10 points	1.44%	1.34%
JPMorgan Chase & CoJPM	BBUS +0.10 points	1.39%	1.29%
Berkshire Hathaway IncBRK.B	BBUS +0.10 points	1.57%	1.47%
Exxonmobil Holdings CorpXOM	BBUS +0.08 points	1.13%	1.05%
Advanced Micro DevicesAMD	BBUS +0.09 points	1.17%	1.08%
Visa Inc Common Stock USDV	BBUS +0.08 points	1.11%	1.03%
Johnson & Johnson CommonJNJ	BBUS +0.07 points	1.00%	0.93%
Walmart Inc Common StockWMT	BBUS +0.06 points	0.86%	0.80%
AbbVie Inc Common StockABBV	BBUS +0.05 points	0.78%	0.73%
Costco Wholesale CorpCOST	BBUS +0.05 points	0.71%	0.66%
Mastercard Inc CommonMA	BBUS +0.05 points	0.81%	0.76%
The Coca-Cola CompanyKO	BBUS +0.05 points	0.57%	0.52%
Cisco Systems Inc CommonCSCO	BBUS +0.05 points	0.62%	0.57%
The Procter & GamblePG	BBUS +0.04 points	0.58%	0.54%
UnitedHealth Group IncUNH	BBUS +0.04 points	0.55%	0.51%
Home Depot Inc/TheHD	BBUS +0.04 points	0.52%	0.48%
Merck & Co Inc CommonMRK	BBUS +0.04 points	0.56%	0.52%
Bank of America CorpBAC	BBUS +0.03 points	0.49%	0.46%
Palo Alto Networks IncPANW	BBUS +0.04 points	0.44%	0.40%
General Electric CoGE	BBUS +0.03 points	0.50%	0.47%
Philip MorrisPM	BBUS +0.04 points	0.50%	0.46%
Applied Materials IncAMAT	BBUS +0.04 points	0.46%	0.42%
Lam Research Corp CommonLRCX	BBUS +0.04 points	0.44%	0.40%
Goldman Sachs GroupGS	BBUS +0.03 points	0.40%	0.37%
Wells Fargo & Co CommonWFC	BBUS +0.03 points	0.40%	0.37%
Netflix Inc Common StockNFLX	BBUS +0.03 points	0.40%	0.37%
Rtx CorpRTX	BBUS +0.03 points	0.42%	0.39%
Texas Instruments IncTXN	BBUS +0.03 points	0.42%	0.39%
Caterpillar Inc CommonCAT	BBUS +0.03 points	0.43%	0.40%
Amgen Inc Common StockAMGN	BBUS +0.03 points	0.39%	0.36%
Ge Vernova Inc CommonGEV	BBUS +0.03 points	0.35%	0.32%
Linde PLC Common StockLIN	BBUS +0.03 points	0.37%	0.34%
Gilead Sciences IncGILD	BBUS +0.02 points	0.32%	0.30%
Palantir Technologies IncPLTR	BBUS +0.03 points	0.61%	0.58%
Thermo Fisher ScientificTMO	BBUS +0.03 points	0.39%	0.36%
International BusinessIBM	BBUS +0.03 points	0.37%	0.34%
Citigroup Inc CommonC	BBUS +0.03 points	0.32%	0.29%
Abbott LaboratoriesABT	BBUS +0.02 points	0.29%	0.27%
Kla Corp Common Stock USDKLAC	BBUS +0.03 points	0.31%	0.28%
American Express CoAXP	BBUS +0.03 points	0.27%	0.24%
The Walt Disney CompanyDIS	BBUS +0.02 points	0.30%	0.28%
Analog Devices IncADI	BBUS +0.02 points	0.31%	0.29%
Oracle Corp Common StockORCL	BBUS +0.02 points	0.31%	0.29%
Conocophillips CommonCOP	BBUS +0.02 points	0.27%	0.25%
Morgan Stanley DeanMS	BBUS +0.02 points	0.34%	0.32%
Illinois Tool Works IncITW	BBUS +0.03 points	0.13%	0.10%
Verizon CommunicationsVZ	BBUS +0.02 points	0.29%	0.27%
Nextera Energy IncNEE	BBUS +0.02 points	0.27%	0.25%
Qualcomm Inc Common StockQCOM	BBUS +0.02 points	0.26%	0.24%
Pepsico Inc Common StockPEP	BBUS +0.02 points	0.29%	0.27%
Danaher Corp Common StockDHR	BBUS +0.02 points	0.22%	0.20%
Pfizer Inc Common StockPFE	BBUS +0.02 points	0.27%	0.25%
Welltower IncWELL	BBUS +0.01 points	0.26%	0.24%
Union Pacific Corp CommonUNP	BBUS +0.02 points	0.28%	0.26%
AT&T Inc Common Stock USDT	BBUS +0.02 points	0.23%	0.21%
Chubb Ltd Common StockCB	BBUS +0.02 points	0.20%	0.18%
Deere & Co Common StockDE	BBUS +0.01 points	0.25%	0.24%
Stryker Corp Common StockSYK	BBUS +0.02 points	0.17%	0.15%
Constellation EnergyCEG	BBUS +0.01 points	0.13%	0.12%
Amphenol Corp CommonAPH	BBUS +0.02 points	0.30%	0.28%
Vertex PharmaceuticalsVRTX	BBUS +0.02 points	0.22%	0.20%
Sandisk Corp Common StockSNDK	BBUS +0.02 points	0.24%	0.22%
Mcdonald's Corp CommonMCD	BBUS +0.02 points	0.29%	0.27%
Northrop Grumman CorpNOC	BBUS +0.02 points	0.12%	0.10%
Arista Networks IncANET	BBUS +0.02 points	0.26%	0.24%
Crowdstrike Holdings IncCRWD	BBUS +0.02 points	0.37%	0.35%
Accenture PLC CommonACN	BBUS +0.01 points	0.24%	0.23%
Salesforce.com Inc.CRM	BBUS +0.02 points	0.28%	0.26%
Eaton Corp PLC CommonETN	BBUS +0.02 points	0.22%	0.20%
Boeing Co/The CommonBA	BBUS +0.01 points	0.21%	0.20%
Ebay Inc Common Stock USDEBAY	BBUS +0.01 points	0.08%	0.07%
Mckesson Corp CommonMCK	BBUS +0.02 points	0.18%	0.16%
Marathon Petroleum CorpMPC	BBUS +0.02 points	0.18%	0.17%
Marvell Technology IncMRVL	BBUS +0.02 points	0.23%	0.21%
The Southern CompanySO	BBUS +0.02 points	0.17%	0.15%
Intuitive Surgical IncISRG	BBUS +0.02 points	0.24%	0.22%
Charles Schwab Corp/TheSCHW	BBUS +0.01 points	0.22%	0.21%
Delta Air Lines IncDAL	BBUS +0.01 points	0.08%	0.07%
Cme Group Inc CommonCME	BBUS +0.02 points	0.17%	0.15%
Booking Holdings IncBKNG	BBUS +0.02 points	0.18%	0.16%
Servicenow Inc CommonNOW	BBUS +0.02 points	0.17%	0.15%
Tjx Cos Inc/The CommonTJX	BBUS +0.02 points	0.24%	0.22%
Seagate TechnologySTX	BBUS +0.01 points	0.20%	0.19%
Altria Group Inc CommonMO	BBUS +0.02 points	0.20%	0.18%
Entergy Corp Common StockETR	BBUS +0.01 points	0.08%	0.07%
Prologis Inc Reit USDPLD	BBUS +0.01 points	0.19%	0.18%
Capital One FinancialCOF	BBUS +0.02 points	0.20%	0.18%
Valero Energy Corp CommonVLO	BBUS +0.02 points	0.17%	0.15%
Equinix Inc Reit USDEQIX	BBUS +0.01 points	0.15%	0.14%
Marsh & Mclennan Cos IncMRSH	BBUS +0.01 points	0.15%	0.14%

All 469 BBUS holdings⁠All 1,510 SPTM 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.

BBUS vs SPTM Cost

Overpaying SPTM vs BBUS

$212

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

BBUS 0.02%
$426
SPTM 0.03%
$638

Amount$10,000

Years30 years

Cost over time

BBUS 0.02%
SPTM 0.03%
Overpaying

Year by year

Year	BBUS	SPTM	Overpaying
10	$37	$55	$18
20	$144	$216	$72
30	$426	$638	$212

Expense ratio

0.02%BBUS, cheaper
0.03%SPTM

BBUS0.02%SPTM0.03%

0.02%0.25%

Middle half of Total US Market funds
Median 0.04%

BBUS cheapest of 10 funds

SPTM 2nd cheapest of 10 funds

BBUS vs SPTM Dividends

Last 12 months to Nov 3, 2026

Yield (12M): BBUS 1.01%; SPTM 1.07%, better
Payout (12M): BBUS $1.37; SPTM $0.98
Last payment: BBUS $0.35; SPTM $0.25
Ex-dividend: BBUS Sep 22, 2026; SPTM Sep 21, 2026
Paid on: BBUS Sep 24, 2026; SPTM Sep 23, 2026
Frequency: BBUS Quarterly; SPTM Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

BBUSQuarterly · 30 paymentsAll BBUS payments⁠

SPTMQuarterly · 39 paymentsAll SPTM payments⁠

BBUS vs SPTM Risk

Fall from peak · 5 years

BBUS
SPTM

Risk facts

VolatilityStd dev, 3 years: BBUS 12.5%SPTM 12.3%, better
Return per unit of riskSharpe ratio, 3 years: BBUS 1.39SPTM 1.39
Worst fallMax drawdown, 5 years: BBUS −25.5%SPTM −24.2%, better
Market sensitivityBeta, 5 years: BBUS 1.02SPTM 1.01; Market = 1

BBUS and SPTM in the news

All news⁠

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Updated Nov 2, 2026SPTM

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