FDEV vs JPIN

FDEVAFidelity International Multifactor ETF

JPINCJPMorgan Diversified Return International Equity ETF

In short

FDEV Four factors (value, quality, momentum, low volatility) blended into one developed-markets index fund at 0.18% a year. Fidelity's answer to paying up for a single-factor tilt overseas.

JPIN A deliberate break from the cap-weighted international index: roughly 500 foreign stocks screened on value, quality and momentum, assembled with better risk-adjusted returns as the stated goal. J.P. Morgan has run it since 2014.

Stated mandate

FDEV The fund seeks returns generally corresponding to the Fidelity International Multifactor Index before fees and expenses.

JPIN The fund seeks international equity exposure while aiming for better risk-adjusted returns than a market-cap-weighted index.

Why people hold it

• FDEV 0.18% a year, less than half the typical fee in its international multifactor group, and within a rounding error of the cheapest name there (INTF at 0.16%).
• One index does the work of four screens: value, quality, momentum and low volatility applied together, instead of you stacking separate single-factor funds.
• Roughly 220 developed-market stocks outside the US, picked by published index rules rather than a manager's hunches, with cash paid out quarterly.
• Sits in the top quartile of a 29-fund international factor cohort, which is a crowded field full of far pricier attempts at the same job.

• JPIN The rules are the whole product: the index screens international stocks on value, quality and momentum, then aims for better risk-adjusted returns than a market-cap-weighted benchmark.jpmorgan.com
• About 500 holdings, so no single mega-cap or single country carries the fund the way it can in a cap-weighted foreign index. Pays quarterly.
• Trading since 2014, with a record across several full market cycles, and it delivers the exposure its name advertises. Upper half of the international multifactor pack.
• At 0.37%, the fee sits about where the typical factor-based international fund sits. No premium for the J.P. Morgan badge.

Worth knowing

• FDEV Thinly traded. Spreads can quietly cost more than the fee, so limit orders matter more here than with the category's household names.
• A 2019 launch still in the mid-size asset range, so there is no decades-long record to lean on the way older international index funds offer.
• Blending four factors means none of them drives the bus. When value or momentum alone runs hot, this owns only a slice of that move.

• JPIN Cheaper doors into international factors exist. INTF, FDEV and GSIE all undercut JPIN on expense ratio for a broadly similar job.
• Volume is light. Spreads can run wider than at the category's most-traded names, so order size and timing matter more here than with a headline foreign index fund.
• Factor tilts guarantee stretches where this looks nothing like a plain cap-weighted international index. That gap is the design, not a malfunction.

Full FDEV profile⁠

Full JPIN profile⁠