EXUS vs JIRE

EXUSDNomura Focused International Core ETF

JIREAJPMorgan International Research Enhanced Equity ETF

In short

EXUS An active international fund that earns the word "focused": 35 to 45 stocks picked one by one, with country and factor bets deliberately dialed down so the individual stock calls do the work.

JIRE EAFE core with a stock-picker's fingerprints. JIRE holds sector and geographic risk close to the MSCI EAFE Index and expresses J.P. Morgan's global analyst calls as small over- and underweights, for 0.29% a year, below the typical active international fee.

Stated mandate

EXUS The fund seeks capital growth and appreciation.

JIRE JIRE seeks long-term capital appreciation by investing primarily in foreign developed-market companies. It uses global fundamental research and seeks to outperform the MSCI EAFE Index while maintaining similar sector and geographic risk characteristics.

Why people hold it

• EXUS Focused is literal. The portfolio targets 35 to 45 international stocks, so every pick carries real weight instead of vanishing into a thousand-name benchmark.macquarie.com
• Macquarie's Global Equity Team takes granular stock-specific risk while working to minimize country and factor tilts. A different engine than the broad systematic funds that lead this group.macquarie.com
• At 0.59%, the fee lands right at the midpoint for actively managed international funds rather than above it.
• The ETF runs the same International Core approach the team already managed in mutual fund form, so the wrapper is newer than the process.macquarie.com

• JIRE Index-like by design: sector and geographic risk stay close to MSCI EAFE, so stock-level tilts from J.P. Morgan's worldwide research bench do the work.jpmorgan.com
• 0.29% a year, below the median fee in its active international category, and no waiver is propping that up, so there is no expiry date to watch.
• Risk spread wide: roughly 200 stocks across developed markets outside North America, inside a multi-billion-dollar fund.
• Rates as one of the stronger implementations in the active international equity group.

Worth knowing

• EXUS Still roughly double the fee of the group's top-ranked systematic peers: AVDE at 0.23%, DFIC at 0.22%. The stock picking carries that gap.
• Concentration cuts both ways. With 35 to 45 names, one holding's stumble lands harder here than in a sprawling international index fund.macquarie.com
• A small fund that trades lightly next to the category's heavyweights, which can mean wider spreads at the moment of the trade.

• JIRE Hugging the benchmark cuts both ways: differences from EAFE come in small slices from stock selection, not bold sector or country bets.
• Cheaper shelf-mates exist: DFIC at 0.22% and AVDE at 0.23%, plus TACN at 0.20% gross but 0% net of a waiver through January 30, 2027.
• Developed-market holdings are priced in foreign currencies, so moves in the dollar ride along with the stock results.jpmorgan.com

Full EXUS profile⁠

Full JIRE profile⁠