DFSV vs JPSV

DFSVAU.S. Small Cap Value Portfolio ETF Class Shares

JPSVCJPMorgan Active Small Cap Value ETF

In short

DFSV Small-cap value, spread wide: roughly a thousand of the market's cheaper small companies, measured against the Russell 2000 Value Index. A deeper bench than most rivals carry, at a higher price than the plain index funds beside it.

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

DFSV The fund seeks long-term capital appreciation.

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

• DFSV Roughly 1,000 holdings spread the small-value bet across the whole opportunity set instead of a handful of names.
• A multi-billion-dollar fund that trades actively, so getting a position on or off is rarely the hard part.
• Portfolio construction is the strong suit here: broad, diversified small-cap value exposure, with distributions paid quarterly.
• The mandate is plainly stated: long-term capital appreciation from US stocks, no side quests.

• 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

• DFSV At 0.30% a year it costs more than the typical US value ETF (median 0.18%), and VTWV runs against the same Russell 2000 Value benchmark for 0.06%.
• Small-cap value is a bumpier corner than the large-cap value funds anchoring this group (VTV, SCHV), and the ride shows it.
• Launched in 2022, so its live record is short next to the value funds it sits beside.

• 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 DFSV profile⁠

Full JPSV profile⁠