HWSM vs JMEE: Grades, Fees and Holdings Compared

Hotchkis & Wiley SMID Cap Diversified Value Fund

HWSMCNasdaq

JPMorgan Small & Mid Cap Enhanced Equity ETF

JMEEANYSE Arca

Overlap

11.6%by weight

Expense ratio

JMEE −0.21pt a year

HWSM0.55%JMEE0.34%

Avg volume · 30D

JMEE 803.7×the volume

HWSM150JMEE121K

HWSM vs JMEE Performance

Oct 31, 2025 – Nov 2, 2026

+24.2%HWSM+20.4%JMEE

Expense ratio: HWSM 0.55%; JMEE 0.34%, better
Fund size: HWSM $3M; JMEE $2.94B
1Y total return: HWSM +24.2%, better; JMEE +20.4%
Yield (12M): HWSM No data; JMEE 0.96%
Holdings: HWSM 173; JMEE 676
Avg volume (30D): HWSM 150 sh; JMEE 121K sh, better
NAV per share: HWSM $31.96; JMEE $74.78
52W range

ETF.net Grade

Pillar letters and Scores for HWSM, JMEE, with each pillar’s weight
Pillar	HWSM	JMEE
Cost30% weight	C54	A87Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	B65Higher	C51
Tradability15% weight	C40	B56Higher
Holdings10% weight	B67	A88Higher
Durability5% weight	F15	A96Higher

Rank among US Active Small/Mid-Cap funds

How we build Categories ›

Same Category. HWSM 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 HWSM 31st 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 74
Rank 5AREMCColumbia Research Enhanced Mid Cap ETFScore 70
Rank 31CHSMVFirst Trust Horizon Managed Volatility Small/Mid ETFScore 40
Rank 31CHWSMHotchkis & Wiley SMID Cap Diversified Value FundScore 40
Rank 33DNBSMNeuberger Berman Small-Mid Cap ETFScore 39

Our read on each fund

ETF.net Research

HWSMCHotchkis & Wiley SMID Cap Diversified Value Fund

JMEEAJPMorgan Small & Mid Cap Enhanced Equity ETF

In short

HWSM No data

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

HWSM No data

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

HWSM No data

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

HWSM No data

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 HWSM profile⁠

Full JMEE profile⁠

HWSM vs JMEE Holdings

How HWSM and JMEE differ

Overlap by weight

11.6%

Shared holdings make up 42.7% of HWSM and 11.6% of JMEE.

Level by level

Holdings84 in both11.6%
Sector11 Sectors81.3%
Countryby domicile97.7%
Asset classEquity100%

Sector

Sector weights in HWSM and JMEE, widest gap first
Sector	More in HWSMMore in JMEE	HWSM	JMEE
Financials	HWSM +9.8 points	25.6%	15.8%
Industrials	JMEE +7.1 points	10.8%	17.9%
Real Estate	JMEE +4.4 points	3.2%	7.6%
Utilities	HWSM +4.2 points	6.4%	2.2%
Consumer Discretionary	HWSM +4.0 points	15.1%	11.1%
Materials	JMEE +2.9 points	3.6%	6.5%
Health Care	JMEE +1.5 points	8.8%	10.3%
Technology	JMEE +1.1 points	14.9%	16.0%
Communication	JMEE +0.9 points	1.2%	2.1%
Consumer Staples	JMEE +0.7 points	3.4%	4.1%
Energy	HWSM +0.8 points	7.1%	6.3%

Country, concentration and asset class

Country by domicile

Country weights in HWSM and JMEE, widest gap first
Country	More in HWSMMore in JMEE	HWSM	JMEE
United States	JMEE +1.4 points	97.5%	98.9%
Canada	HWSM +1.0 points	1.0%	0.0%
Sweden	HWSM +1.0 points	1.1%	0.1%
United Kingdom	JMEE +0.8 points	0.0%	0.8%
Other countries (4)	HWSM +0.2 points	0.4%	0.2%

Concentration

Weight in the 10 largest Holdings

HWSM14.8%
JMEE9.7%

Securities held

HWSM173
JMEE674

Asset class

HWSM: Equity
JMEE: Equity

Holdings

Only in HWSM89
In both84
Only in JMEE590

Only in HWSM

89 securities, 57.3% of HWSM by weight

GE HealthCare Technologies Inc2.08%
Workday Inc2.00%
PPG Industries Inc1.69%
APA Corp1.55%
Dominion Energy Inc1.52%
American International Group Inc1.28%
F5 Inc1.27%
First American Government Obligations Fund 12/01/20311.25%
Host Hotels & Resorts Inc1.12%
Arch Capital Group Ltd1.09%
First Citizens BancShares Inc/NC1.05%
Telefonaktiebolaget LM Ericsson1.05%
Eversource Energy0.98%
Magna International Inc0.98%
Synchrony Financial0.97%
National Fuel Gas Co0.93%
Franklin Templeton Inc0.92%
Pool Corp0.74%
Fortive Corp0.70%
Stanley Black & Decker Inc0.68%
Black Hills Corp0.67%
Labcorp Holdings Inc0.66%
Markel Group Inc0.65%
Constellation Brands Inc0.65%
A O Smith Corp0.65%
Everest Group Ltd0.64%
White Mountains Insurance Group Ltd0.63%
Exelon Corp0.62%
PPL Corp0.62%
Wpp PLC0.61%
J M Smucker Co/The0.61%
Fidelity National Information Services Inc0.61%
FirstEnergy Corp0.61%
Humana Inc0.60%
Omnicom Group Inc0.60%
Concentra Group Holdings Parent Inc0.60%
BXP Inc0.60%
Kraft Heinz Co/The0.59%
Cognizant Technology Solutions Corp0.59%
Fiserv Inc0.58%
Aptiv PLC0.58%
Ingredion Inc0.58%
Centene Corp0.57%
LivaNova PLC0.57%
Universal Health Services Inc0.57%
Amdocs Ltd0.57%
Sensata Technologies Holding PLC0.56%
Portland General Electric Co0.56%
U-Haul Holding Co0.53%
Zimmer Biomet Holdings Inc0.53%

Only in JMEE

590 securities, 88.2% 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%
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%
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%
Toll Brothers Inc Common0.35%
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%
Owens Corning Common0.33%
East West Bancorp Inc0.33%
Dt Midstream Inc Common0.32%
Antero Resources Corp0.32%
Docusign Inc Common0.32%
Five Below Inc Common0.32%
Dynatrace Inc0.32%
Mastec Inc Common Stock0.31%

Weight gaps

All 84 Holdings in both funds, largest gap first.

Holding weights in HWSM and JMEE, widest gap first
Holding	More in HWSMMore in JMEE	HWSM	JMEE
Western Alliance BancorpWAL	HWSM +0.71 points	0.95%	0.24%
Corebridge Financial IncCRBG	HWSM +0.70 points	0.97%	0.27%
Fluor CorpFLR	HWSM +0.67 points	0.82%	0.15%
Ally Financial IncALLY	HWSM +0.61 points	0.90%	0.29%
Fortune Brands Innovations IncFBHS	HWSM +0.61 points	0.67%	0.06%
Workiva IncWK	HWSM +0.60 points	0.63%	0.03%
Mattel IncMAT	HWSM +0.60 points	0.66%	0.06%
Brunswick Corp/DEBC	HWSM +0.56 points	0.65%	0.09%
FTI Consulting IncFCN	HWSM +0.55 points	0.72%	0.17%
Vontier CorpVNT	HWSM +0.55 points	0.65%	0.10%
AptarGroup IncATR	HWSM +0.53 points	0.69%	0.16%
Axalta Coating Systems LtdAXTA	HWSM +0.53 points	0.61%	0.08%
Churchill Downs IncCHDN	HWSM +0.53 points	0.71%	0.18%
Essent Group LtdESNT	HWSM +0.53 points	0.59%	0.06%
Molson Coors Beverage CoTAP	HWSM +0.51 points	0.64%	0.13%
Radian Group IncRDN	HWSM +0.51 points	0.60%	0.09%
UFP Industries IncUFPI	HWSM +0.51 points	0.60%	0.09%
Gentex CorpGNTX	HWSM +0.51 points	0.53%	0.02%
Federated Hermes IncFHI	HWSM +0.49 points	0.63%	0.14%
Vornado Realty TrustVNO	HWSM +0.47 points	0.57%	0.10%
Rush Enterprises IncRUSHA	HWSM +0.46 points	0.52%	0.06%
Brink's Co/TheBCO	HWSM +0.46 points	0.58%	0.12%
Lear CorpLEA	HWSM +0.45 points	0.57%	0.12%
NOV IncNOV	HWSM +0.44 points	0.50%	0.06%
Zions Bancorp NAZION	HWSM +0.43 points	0.60%	0.17%
Lincoln National CorpLNC	HWSM +0.43 points	0.56%	0.13%
Thor Industries IncTHO	HWSM +0.41 points	0.43%	0.02%
H&R Block IncHRB	HWSM +0.42 points	0.45%	0.03%
Reynolds Consumer Products IncREYN	HWSM +0.40 points	0.43%	0.03%
Lithia Motors IncLAD	HWSM +0.40 points	0.52%	0.12%
LKQ CorpLKQ	HWSM +0.40 points	0.48%	0.08%
ACI Worldwide IncACIW	HWSM +0.40 points	0.47%	0.07%
Bath & Body Works IncBBWI	HWSM +0.39 points	0.52%	0.13%
EPAM Systems IncEPAM	HWSM +0.39 points	0.44%	0.05%
Booz Allen Hamilton Holding CorpBAH	HWSM +0.38 points	0.63%	0.25%
AGCO CorpAGCO	HWSM +0.38 points	0.51%	0.13%
Kontoor Brands IncKTB	HWSM +0.38 points	0.45%	0.07%
Doximity IncDOCS	HWSM +0.38 points	0.47%	0.09%
Cushman & Wakefield LtdCWK	HWSM +0.38 points	0.43%	0.05%
Paycom Software IncPAYC	HWSM +0.37 points	0.46%	0.09%
Itron IncITRI	HWSM +0.36 points	0.41%	0.05%
Genpact LtdG	HWSM +0.35 points	0.43%	0.08%
Vail Resorts IncMTN	HWSM +0.36 points	0.39%	0.03%
Murphy Oil CorpMUR	HWSM +0.36 points	0.42%	0.06%
Crocs IncCROX	HWSM +0.35 points	0.50%	0.15%
Associated Banc-CorpASB	HWSM +0.34 points	0.59%	0.25%
Asbury Automotive Group IncABG	HWSM +0.34 points	0.40%	0.06%
Avnet IncAVT	HWSM +0.34 points	0.54%	0.20%
SLM CorpSLM	HWSM +0.34 points	0.40%	0.06%
PVH CorpPVH	HWSM +0.33 points	0.48%	0.15%
Option Care Health IncOPCH	HWSM +0.33 points	0.51%	0.18%
AutoNation IncAN	HWSM +0.32 points	0.38%	0.06%
Hilton Grand Vacations IncHGV	HWSM +0.32 points	0.41%	0.09%
Euronet Worldwide IncEEFT	HWSM +0.31 points	0.34%	0.03%
ExlService Holdings IncEXLS	HWSM +0.30 points	0.45%	0.15%
CNO Financial Group IncCNO	HWSM +0.30 points	0.40%	0.10%
WEX IncWEX	HWSM +0.29 points	0.53%	0.24%
Fidelity National Financial IncFNF	HWSM +0.29 points	0.55%	0.26%
Landstar System IncLSTR	HWSM +0.28 points	0.33%	0.05%
Sonoco Products CoSON	HWSM +0.27 points	0.40%	0.13%
Equitable Hldgs Inc ComEQH	HWSM +0.27 points	0.57%	0.30%
Flagstar Bank NAFLG	HWSM +0.26 points	0.32%	0.06%
MSC Industrial Direct Co IncMSM	HWSM +0.26 points	0.38%	0.12%
Reinsurance Group of America IncRGA	HWSM +0.25 points	0.64%	0.39%
Bread Financial Holdings IncBFH	HWSM +0.25 points	0.38%	0.13%
NMI Holdings IncNMIH	HWSM +0.26 points	0.39%	0.13%
Timken Co/TheTKR	HWSM +0.25 points	0.55%	0.30%
Weatherford International PLCWFRD	HWSM +0.24 points	0.38%	0.14%
SPS Commerce IncSPSC	HWSM +0.24 points	0.38%	0.14%
Noble Corp PLCNE	HWSM +0.23 points	0.37%	0.14%
Travel + Leisure CoTNL	HWSM +0.23 points	0.47%	0.24%
Beacon Financial CorpBBT	HWSM +0.24 points	0.37%	0.13%
SM Energy CoSM	HWSM +0.23 points	0.35%	0.12%
Cactus IncWHD	HWSM +0.22 points	0.34%	0.12%
Ovintiv IncOVV	HWSM +0.21 points	0.64%	0.43%
First Hawaiian IncFHB	HWSM +0.20 points	0.36%	0.16%
BorgWarner IncBWA	HWSM +0.19 points	0.49%	0.30%
HB Fuller CoFUL	HWSM +0.19 points	0.38%	0.19%
Lantheus Holdings IncLNTH	HWSM +0.19 points	0.38%	0.19%
Banc of California IncBANC	HWSM +0.18 points	0.36%	0.18%
Provident Financial Services IncPFS	HWSM +0.18 points	0.38%	0.20%
Conagra Brands IncCAG	HWSM +0.17 points	0.37%	0.20%
Matson IncMATX	HWSM +0.12 points	0.38%	0.26%
BankUnited IncBKU	HWSM +0.10 points	0.35%	0.25%

All HWSM 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.

HWSM vs JMEE Cost

Overpaying HWSM vs JMEE

$3,972

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

HWSM 0.55%
$10,904
JMEE 0.34%
$6,932

Amount$10,000

Years30 years

Cost over time

HWSM 0.55%
JMEE 0.34%
Overpaying

Year by year

Year	HWSM	JMEE	Overpaying
10	$988	$616	$372
20	$3,790	$2,386	$1,404
30	$10,904	$6,932	$3,972

Expense ratio

0.55%HWSM
0.34%JMEE, cheaper

JMEE0.34%HWSM0.55%

0.18%1.10%

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

JMEE 7th cheapest of 47 funds

HWSM 20th cheapest of 47 funds

HWSM vs JMEE Dividends

Last 12 months to Nov 2, 2026

Yield (12M): HWSM No data; JMEE 0.96%
Payout (12M): HWSM No data; JMEE $0.72
Last payment: HWSM $0.36; JMEE $0.72
Ex-dividend: HWSM Dec 3, 2025; JMEE Dec 16, 2025
Paid on: HWSM Dec 4, 2025; JMEE Dec 18, 2025
Frequency: HWSM Irregular; JMEE Annual

Distribution history

Per share, 2022 to 2026, same scale for both

HWSMIrregular · 1 paymentAll HWSM payments⁠

JMEEAnnual · 4 paymentsAll JMEE payments⁠

HWSM vs JMEE Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: HWSM 14.1%since Apr 2025JMEE 15.8%
Return per unit of riskSharpe ratio, 3 years: HWSM 1.01since Apr 2025JMEE 0.90
Worst fallMax drawdown, 5 years: HWSM −15.7%since Mar 2025JMEE −25.4%since May 2022
Market sensitivityBeta, 5 years: HWSM 0.57JMEE 1.10; Market = 1

HWSM 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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HWSM vs JMEE

In short

Stated mandate

Why people hold it