FRTY vs JUSA

FRTYDAlger Mid Cap 40 ETF

JUSAAJPMorgan U.S. Research Enhanced Large Cap ETF

In short

FRTY Alger's stock-picking house style in ETF form: roughly 40 mid-cap growth names, chosen for what the manager calls Positive Dynamic Change. In a peer group stacked with cheap large-cap index-huggers, it's the concentrated mid-cap outlier.

JUSA Active stock picking in index clothing: J.P. Morgan analysts tilt roughly 300 large caps while sector weights and risk stay close to the S&P 500, for 0.18% a year with no waiver attached.

Stated mandate

FRTY The fund seeks long-term capital appreciation by investing in a focused portfolio of mid-cap companies selected through fundamental research for promising growth potential. Its manager emphasizes companies experiencing Positive Dynamic Change.

JUSA The fund seeks capital appreciation through active, fundamental, bottom-up selection of large-cap U.S. equities. It targets companies with strong long-term earnings potential and attractive valuations relative to peers.

Why people hold it

• FRTY About 40 holdings, so every pick carries real weight. This is a conviction portfolio, not a closet index fund shadowing a benchmark.
• Mid-cap growth is the actual mandate, which separates it from a peer group led by large-cap enhanced-index products like JUSA and FELG.
• Stocks are picked by fundamental research under Alger's Positive Dynamic Change framework, aimed at US mid caps the team sees as hitting a growth inflection.
• Launched in 2021, it puts a long-running active growth process into a daily-traded ETF wrapper instead of a mutual fund share class.

• JUSA 0.18% a year with no waiver propping it up, below its category median. GUSE charges 0.30% and LRGC 0.39% for similar enhanced-index work; FELG ties it at 0.18%.
• Active where it counts, plain where it doesn't: bottom-up stock picks across roughly 300 large caps, with sector mix and risk profile kept close to the S&P 500.jpmorgan.com
• Stands among the strongest implementations in a 90-fund peer group of active large-cap funds, helped by a low fee and tightly managed risk.

Worth knowing

• FRTY The 0.60% expense ratio sits above the 0.54% typical for its cohort, and far above index-tracking rivals such as JUSA at 0.12%.
• It trades thinly. Spreads can widen and fills get lumpy, so execution matters more here than in a heavily traded fund.
• Concentration cuts both ways: 40 mid-cap growth names can swing harder than a broad index. Distributions are infrequent, so income isn't the point.

• JUSA Launched in March 2025, so there is only a short live record on this ticker to judge.
• Moderately traded rather than a volume monster, so spreads can run wider than the giant index funds', especially in fast markets.
• Tracking the S&P 500's sector weights limits how far results can stray from the benchmark in either direction. This is a nudge on the index, not a different bet.jpmorgan.com

Full FRTY profile⁠

Full JUSA profile⁠