DSMC vs JMEE: Grades, Fees and Holdings Compared

Distillate Small/Mid Cash Flow ETF

DSMCCNYSE

JPMorgan Small & Mid Cap Enhanced Equity ETF

JMEEANYSE Arca

Overlap

7.8%by weight

Expense ratio

JMEE −0.20pt a year

DSMC0.55%JMEE0.35%

Avg volume · 30D

JMEE 17.6×the volume

DSMC6.83KJMEE121K

3Y return · a year

JMEE +1.5pt

DSMC+17.4%JMEE+18.9%

DSMC vs JMEE Performance

Oct 31, 2025 – Oct 30, 2026

+32.5%DSMC+19.6%JMEE

Expense ratio: DSMC 0.55%; JMEE 0.35%, better
Fund size: DSMC $149M; JMEE $2.94B
1Y total return: DSMC +32.5%, better; JMEE +19.6%
Yield (12M): DSMC 1.11%, better; JMEE 0.97%
Holdings: DSMC 150; JMEE 676
Avg volume (30D): DSMC 6.83K sh; JMEE 121K sh, better
NAV per share: DSMC $45.29; JMEE $74.78
52W range

ETF.net Grade

Pillar letters and Scores for DSMC, JMEE, with each pillar’s weight
Pillar	DSMC	JMEE
Cost30% weight	C54	A84Higher
Mission25% weight	A74	Not scored
Risk15% weight	B58Higher	C50
Tradability15% weight	C42	B56Higher
Holdings10% weight	A70	A88Higher
Durability5% weight	B58	A96Higher

Rank among US Active Small/Mid-Cap funds

How we build Categories ›

Same Category. DSMC 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 DSMC 20th 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 17BSMIZZacks Small/Mid Cap ETFScore 55
Rank 20CDSMCDistillate Small/Mid Cash Flow ETFScore 54
Rank 21CIVSSApplied Finance IVS US SMID ETFScore 53

Our read on each fund

ETF.net Research

DSMCCDistillate Small/Mid Cash Flow ETF

JMEEAJPMorgan Small & Mid Cap Enhanced Equity ETF

In short

DSMC Small-cap value usually means buying whatever screens cheap. Distillate ranks on free cash flow instead and typically skips heavily indebted companies, so the bargain bin arrives pre-sorted for balance sheets.

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

DSMC The fund seeks long-term capital appreciation through an actively managed strategy focused on securities with attractive valuation and cash-flow and quality characteristics.

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

DSMC 0.55% a year, below the median for active US stock ETFs. Active stock picking without the old-school active price tag.
The screen scores valuation on free cash flow and quality on a proprietary debt-to-income measure, and typically avoids companies carrying significant leverage.distillatecapital.com
A tight book of roughly 100 small and mid caps, and what it owns stands among the stronger portfolios in its active US equity peer group. Pays quarterly.

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

DSMC Thinly traded and modest in size next to index giants, so spreads can run wider. Limit orders matter more here than on a mega-cap fund.
Cash-flow and leverage screens cut out sizeable slices of the small-cap market, so sector weights and results can wander well away from a plain small-cap index.distillatecapital.com
Smaller companies move harder in both directions than large caps, a risk the fund's own prospectus spells out. Launched in 2022, so the live record is short.distillatecapital.com

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 DSMC profile⁠

Full JMEE profile⁠

DSMC vs JMEE Holdings

How DSMC and JMEE differ

Overlap by weight

7.8%

Shared holdings make up 48.1% of DSMC and 7.8% of JMEE.

Level by level

Holdings69 in both7.8%
Sector11 Sectors71.4%
Countryby domicile98.9%
Asset classEquity100%

Sector

Sector weights in DSMC and JMEE, widest gap first
Sector	More in DSMCMore in JMEE	DSMC	JMEE
Financials	JMEE +12.4 points	3.4%	15.8%
Consumer Discretionary	DSMC +9.7 points	20.8%	11.1%
Real Estate	JMEE +7.6 points	0.0%	7.6%
Energy	DSMC +6.7 points	13.0%	6.3%
Materials	JMEE +4.5 points	1.9%	6.5%
Consumer Staples	DSMC +4.0 points	8.1%	4.1%
Technology	DSMC +3.7 points	19.7%	16.0%
Communication	DSMC +3.0 points	5.1%	2.1%
Utilities	JMEE +2.2 points	0.0%	2.2%
Health Care	JMEE +1.7 points	8.6%	10.3%
Industrials	DSMC +1.6 points	19.5%	17.9%

Country, concentration and asset class

Country by domicile

Country weights in DSMC and JMEE, widest gap first
Country	More in DSMCMore in JMEE	DSMC	JMEE
United Kingdom	JMEE +0.8 points	0.0%	0.8%
India	DSMC +0.6 points	0.7%	0.1%
Other countries (5)	DSMC +0.2 points	99.3%	99.1%

Concentration

Weight in the 10 largest Holdings

DSMC12.7%
JMEE9.7%

Securities held

DSMC149
JMEE674

Asset class

DSMC: Equity
JMEE: Equity

Holdings

Only in DSMC80
In both69
Only in JMEE605

Only in DSMC

80 securities, 51.8% of DSMC by weight

Skyworks Solutions Inc2.06%
APA Corp1.25%
Gartner Inc1.22%
Icon PLC1.21%
GoDaddy Inc1.12%
Masco Corp1.11%
First American Government Obligations Fund 12/01/20310.97%
Invesco Ltd0.96%
Textron Inc0.95%
Deckers Outdoor Corp0.94%
Gap Inc/The0.91%
Universal Health Services Inc0.87%
Hormel Foods Corp0.83%
Dillard's Inc0.81%
Academy Sports & Outdoors Inc0.80%
Match Group Inc0.79%
CVR Energy Inc0.79%
A O Smith Corp0.78%
AMN Healthcare Services Inc0.77%
FactSet Research Systems Inc0.77%
Columbia Sportswear Co0.77%
Insight Enterprises Inc0.76%
Amdocs Ltd0.74%
Teekay Tankers Ltd0.72%
Smithfield Foods Inc0.68%
Pacira BioSciences Inc0.67%
Riley Exploration Permian Inc0.64%
International Seaways Inc0.63%
GigaCloud Technology Inc0.63%
Hayward Holdings Inc0.63%
Sensata Technologies Holding PLC0.62%
Talos Energy Inc0.61%
Boston Beer Co Inc/The0.61%
Cal-Maine Foods Inc0.60%
Amphastar Pharmaceuticals Inc0.60%
Herbalife Ltd0.60%
Cabot Corp0.59%
Pediatrix Medical Group Inc0.59%
National Beverage Corp0.58%
Dolby Laboratories Inc0.57%
Artisan Partners Asset Management Inc0.57%
IDT Corp0.56%
Ardmore Shipping Corp0.55%
Ziff Davis Inc0.55%
Collegium Pharmaceutical Inc0.55%
V2X Inc0.55%
ePlus Inc0.54%
ICF International Inc0.53%
Franklin Electric Co Inc0.53%
TriNet Group Inc0.53%

Only in JMEE

605 securities, 92.0% of JMEE by weight

JPMorgan Prime Money4.47%
Okta Inc Common Stock0.86%
United Therapeutics Corp0.77%
Technipfmc PLC Common0.62%
Halozyme Therapeutics0.57%
Nvent Electric PLC0.55%
Reliance Inc Common Stock0.53%
Curtiss-Wright Corp0.47%
Hf Sinclair Corp Common0.46%
Ati Inc Common Stock USD0.45%
Watts Water Technologies0.44%
Permian Resources0.44%
Pinnacle Financial0.43%
Ovintiv Inc Common Stock0.43%
Clean Harbors Inc Common0.43%
Tenet Healthcare Corp0.42%
Protagonist Therapeutics0.42%
Jones Lang Lasalle Inc0.41%
Glaukos Corp Common Stock0.41%
Woodward Inc Common0.40%
Jazz Pharmaceuticals PLC0.40%
Oge Energy Corp Common0.40%
Reinsurance Group of0.39%
Us Foods Holding Corp0.39%
Rbc Bearings Inc Common0.39%
Td Synnex Corp Common0.39%
Encompass Health Corp0.38%
Donaldson Co Inc Common0.38%
Medpace Holdings Inc0.38%
Evercore Inc Common Stock0.38%
Xpo Inc Common Stock USD0.38%
Macom Technology0.37%
Viasat Inc Common Stock0.36%
Nutanix Inc Common Stock0.36%
Crown Holdings Inc Common0.35%
Arrow Electronics Inc0.35%
Sharkninja Inc Common0.34%
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%
Docusign Inc Common0.32%
Five Below Inc Common0.32%
Dynatrace Inc0.32%
Mastec Inc Common Stock0.31%
Wesco International Inc0.31%

Weight gaps

All 69 Holdings in both funds, largest gap first.

Holding weights in DSMC and JMEE, widest gap first
Holding	More in DSMCMore in JMEE	DSMC	JMEE
DXC Technology CoDXC	DSMC +1.30 points	1.36%	0.06%
Versant Media Group IncVSNT	DSMC +0.98 points	1.13%	0.15%
Crocs IncCROX	DSMC +0.97 points	1.12%	0.15%
Carlisle Cos IncCSL	DSMC +0.96 points	1.10%	0.14%
Bath & Body Works IncBBWI	DSMC +0.88 points	1.01%	0.13%
Core & Main IncCNM	DSMC +0.86 points	0.88%	0.02%
Signet Jewelers LtdSIG	DSMC +0.82 points	0.97%	0.15%
PVH CorpPVH	DSMC +0.78 points	0.93%	0.15%
Murphy Oil CorpMUR	DSMC +0.78 points	0.84%	0.06%
H&R Block IncHRB	DSMC +0.76 points	0.79%	0.03%
Mohawk Industries IncMHK	DSMC +0.76 points	0.88%	0.12%
EPAM Systems IncEPAM	DSMC +0.72 points	0.77%	0.05%
Chord Energy CorpCHRD	DSMC +0.69 points	0.93%	0.24%
Toll Brothers IncTOL	DSMC +0.69 points	1.04%	0.35%
Thor Industries IncTHO	DSMC +0.69 points	0.71%	0.02%
Mattel IncMAT	DSMC +0.68 points	0.74%	0.06%
Dropbox IncDBX	DSMC +0.67 points	0.78%	0.11%
Antero Resources CorpAR	DSMC +0.66 points	0.98%	0.32%
Genpact LtdG	DSMC +0.65 points	0.73%	0.08%
Parsons CorpPSN	DSMC +0.66 points	0.70%	0.04%
Abercrombie & Fitch CoANF	DSMC +0.64 points	0.78%	0.14%
California Resources CorpCRC	DSMC +0.61 points	0.70%	0.09%
Euronet Worldwide IncEEFT	DSMC +0.62 points	0.65%	0.03%
Vontier CorpVNT	DSMC +0.61 points	0.71%	0.10%
Maximus IncMMS	DSMC +0.61 points	0.65%	0.04%
LKQ CorpLKQ	DSMC +0.60 points	0.68%	0.08%
Owens CorningOC	DSMC +0.60 points	0.93%	0.33%
UFP Industries IncUFPI	DSMC +0.59 points	0.68%	0.09%
Option Care Health IncOPCH	DSMC +0.59 points	0.77%	0.18%
NOV IncNOV	DSMC +0.58 points	0.64%	0.06%
Teradata CorpTDC	DSMC +0.58 points	0.65%	0.07%
LCI IndustriesLCII	DSMC +0.58 points	0.61%	0.03%
Buckle Inc/TheBKE	DSMC +0.56 points	0.59%	0.03%
AecomACM	DSMC +0.56 points	0.73%	0.17%
Dorian LPG LtdLPG	DSMC +0.55 points	0.58%	0.03%
Kontoor Brands IncKTB	DSMC +0.54 points	0.61%	0.07%
Gentex CorpGNTX	DSMC +0.54 points	0.56%	0.02%
Clear Secure IncYOU	DSMC +0.53 points	0.60%	0.07%
Weatherford International PLCWFRD	DSMC +0.53 points	0.67%	0.14%
G-III Apparel Group LtdGIII	DSMC +0.52 points	0.59%	0.07%
Peabody Energy CorpBTU	DSMC +0.52 points	0.54%	0.02%
Acuity IncAYI	DSMC +0.51 points	0.69%	0.18%
Blackbaud IncBLKB	DSMC +0.51 points	0.58%	0.07%
Par Pacific Holdings IncPARR	DSMC +0.50 points	0.57%	0.07%
Worthington Enterprises IncWOR	DSMC +0.50 points	0.58%	0.08%
Allison Transmission Holdings IncALSN	DSMC +0.49 points	0.69%	0.20%
Carter's IncCRI	DSMC +0.49 points	0.56%	0.07%
PC Connection IncCNXN	DSMC +0.48 points	0.54%	0.06%
Simply Good Foods Co/TheSMPL	DSMC +0.48 points	0.50%	0.02%
Andersons Inc/TheANDE	DSMC +0.48 points	0.57%	0.09%
Apogee Enterprises IncAPOG	DSMC +0.48 points	0.59%	0.11%
Omnicell IncOMCL	DSMC +0.47 points	0.50%	0.03%
KBR IncKBR	DSMC +0.47 points	0.67%	0.20%
Brink's Co/TheBCO	DSMC +0.47 points	0.59%	0.12%
ScanSource IncSCSC	DSMC +0.46 points	0.52%	0.06%
NetScout Systems IncNTCT	DSMC +0.46 points	0.51%	0.05%
Korn FerryKFY	DSMC +0.44 points	0.51%	0.07%
Patterson-UTI Energy IncPTEN	DSMC +0.43 points	0.67%	0.24%
Stride IncLRN	DSMC +0.43 points	0.52%	0.09%
Mueller Industries IncMLI	DSMC +0.42 points	0.69%	0.27%
Core Natural Resources IncCNR	DSMC +0.41 points	0.51%	0.10%
Commercial Metals CoCMC	DSMC +0.40 points	0.68%	0.28%
WEX IncWEX	DSMC +0.39 points	0.63%	0.24%
M/I Homes IncMHO	DSMC +0.38 points	0.50%	0.12%
Alamo Group IncALG	DSMC +0.38 points	0.46%	0.08%
EVERTEC IncEVTC	DSMC +0.37 points	0.57%	0.20%
Boise Cascade CoBCC	DSMC +0.36 points	0.57%	0.21%
Perdoceo Education CorpPRDO	DSMC +0.35 points	0.46%	0.11%
Virtus Investment Partners IncVRTS	DSMC +0.33 points	0.40%	0.07%

All 150 DSMC 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.

DSMC vs JMEE Cost

Overpaying DSMC vs JMEE

$3,778

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

DSMC 0.55%
$10,904
JMEE 0.35%
$7,126

Amount$10,000

Years30 years

Cost over time

DSMC 0.55%
JMEE 0.35%
Overpaying

Year by year

Year	DSMC	JMEE	Overpaying
10	$988	$634	$354
20	$3,790	$2,454	$1,336
30	$10,904	$7,126	$3,778

Expense ratio

0.55%DSMC
0.35%JMEE, cheaper

JMEE0.35%DSMC0.55%

0.18%1.10%

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

JMEE 7th cheapest of 47 funds

DSMC 20th cheapest of 47 funds

DSMC vs JMEE Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DSMC 1.11%, better; JMEE 0.97%
Payout (12M): DSMC $0.50; JMEE $0.72
Last payment: DSMC $0.12; JMEE $0.72
Ex-dividend: DSMC Sep 24, 2026; JMEE Dec 16, 2025
Paid on: DSMC Sep 25, 2026; JMEE Dec 18, 2025
Frequency: DSMC Quarterly; JMEE Annual

Distribution history

Per share, 2022 to 2026, same scale for both

DSMCQuarterly · 16 paymentsAll DSMC payments⁠

JMEEAnnual · 4 paymentsAll JMEE payments⁠

DSMC vs JMEE Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: DSMC 17.4%JMEE 15.8%, better
Return per unit of riskSharpe ratio, 3 years: DSMC 0.76JMEE 0.90, better
Worst fallMax drawdown, 5 years: DSMC −28.6%since Oct 2022JMEE −25.4%since May 2022
Market sensitivityBeta, 5 years: DSMC 0.68JMEE 1.10; Market = 1

DSMC 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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