JEMA vs RNEM: Grades, Fees and Holdings Compared

JPMorgan ActiveBuilders Emerging Markets Equity ETF

JEMAANasdaq

First Trust Emerging Markets Equity Select ETF

RNEMCNasdaq

Overlap

9.6%by weight

Expense ratio

JEMA −0.42pt a year

JEMA0.33%RNEM0.75%

Avg volume · 30D

JEMA 96.9×the volume

JEMA147KRNEM1.52K

5Y return · a year

JEMA +0.1pt

JEMA+5.8%RNEM+5.7%

JEMA vs RNEM Performance

Oct 29, 2021 – Oct 30, 2026

+32.5%JEMA+31.7%RNEM

Expense ratio: JEMA 0.33%, better; RNEM 0.75%
Fund size: JEMA $1.59B; RNEM $17M
1Y total return: JEMA +16.5%, better; RNEM +4.1%
Yield (12M): JEMA 2.55%, better; RNEM 2.37%
Holdings: JEMA 486; RNEM 280
Avg volume (30D): JEMA 147K sh, better; RNEM 1.52K sh
NAV per share: JEMA $56.18; RNEM $55.47
52W range

ETF.net Grade

Pillar letters and Scores for JEMA, RNEM, with each pillar’s weight
Pillar	JEMA	RNEM
Cost30% weight	A94Higher	D25
Mission25% weight	Not scored	Not scored
Risk15% weight	B58	B63Higher
Tradability15% weight	A82Higher	C43
Holdings10% weight	Not scored	A74
Durability5% weight	A89Higher	B55

Rank among Emerging Markets Active Equity funds

How we build Categories ›

Same Category. JEMA and RNEM are both graded against the same 27 Emerging Markets Active Equity funds, so their Grades compare head to head.

Emerging Markets Active Equity⁠

Category · 27 funds

See all 27 ›

JEMA ranks 2nd and RNEM 17th of 27 funds in the Emerging Markets Active Equity Category.

Rank 1AAVEMAvantis Emerging Markets Equity ETFScore 86
Rank 2AJEMAJPMorgan ActiveBuilders Emerging Markets Equity ETFScore 82
Rank 3AAVSEAvantis Responsible Emerging Markets Equity ETFScore 79
Rank 16CEMESHarbor Emerging Markets Select ETF (EMES)Score 46
Rank 17CRNEMFirst Trust Emerging Markets Equity Select ETFScore 44
Rank 18CVEMVirtus Emerging Markets Dividend ETFScore 43

Our read on each fund

ETF.net Research

JEMAAJPMorgan ActiveBuilders Emerging Markets Equity ETF

RNEMCFirst Trust Emerging Markets Equity Select ETF

In short

JEMA Active emerging-markets management priced like an index fund: J.P. Morgan blends its own country, region and style EM strategies into one roughly 500-stock portfolio built to keep the MSCI EM index's sector and country risk shape.

RNEM The calm corner of emerging markets: a Nasdaq-calculated index picks the 25 lowest-volatility stocks in each EM country, then modified-equal-weights them. Fee is 0.75%, with no waiver.

Stated mandate

JEMA Seeks long-term capital appreciation through a portfolio of emerging-market equities.

RNEM The Fund seeks to track, before fees and expenses, the price and yield performance of the Nasdaq Riskalyze Emerging MarketsTM Index. It normally invests at least 90% of assets in the common stocks and depositary receipts included in that index.

Why people hold it

JEMA 0.33% a year, about half the 0.65% median for active EM funds and level with the cheapest names in the group (AVEM, AVXC, AVSE).
Not one manager's hunch: the portfolio stitches together a range of J.P. Morgan's actively managed EM strategies across countries, regions and styles.sec.gov
Active tilts, benchmark shape. It overweights and underweights countries and sectors versus the MSCI EM index while aiming to hold similar sector and geographic risk.sec.gov
A multi-billion-dollar fund that stands among the strongest implementations in the active EM group on cost and structure.

RNEM Rather than cap-weighting EM megacaps, the index screens each country for its 25 steadiest names by trailing 12-month volatility, then rebalances twice a year.sec.gov ftportfolios.com
Spreads the money wide: roughly 300 stocks, at least 90% of assets in index names and depositary receipts, with cash paid out quarterly.
The index was built by Riskalyze, the firm behind the risk-scoring software advisors run on client portfolios, and is calculated by Nasdaq. RNEM is the only ETF linked to it.sec.gov nasdaqomx.com

Worth knowing

JEMA Active means results ride on the adviser's calls, and the fund has only been trading since 2021, a short record for an EM strategy.sec.gov
Full-market EM exposure runs hot: volatility screens as the softer part of the picture next to peers, the trade-off for staying in the whole asset class.
Moderately traded rather than a tape giant, and cash comes back once or twice a year, not monthly.

RNEM At 0.75% with no fee waiver, it sits above the emerging-markets category median and well above peers like AVEM and JEMA at 0.33%. The volatility screen is what you pay up for.
A small fund that trades lightly next to the category's index giants, so bid-ask spreads can run wider.
Country lines come from Nasdaq's own emerging-markets classification, so the country mix can differ from MSCI-based rivals; overall it lands in the lower half of its peer group.sec.gov

Full JEMA profile⁠

Full RNEM profile⁠

JEMA vs RNEM Holdings

How JEMA and RNEM differ

Overlap by weight

9.6%

Shared holdings make up 22.4% of RNEM and 11.1% of JEMA.

Level by level

Holdings63 in both9.6%
Countryby domicile57.5%
Sector11 Sectors61.1%
Asset classEquity100%

Sector

Sector weights in JEMA and RNEM, widest gap first
Sector	More in JEMAMore in RNEM	JEMA	RNEM
Technology	JEMA +36.9 points	43.4%	6.5%
Financials	RNEM +13.8 points	23.0%	36.8%
Materials	RNEM +9.7 points	3.7%	13.4%
Consumer Staples	RNEM +3.5 points	2.1%	5.6%
Energy	RNEM +3.4 points	3.6%	7.0%
Communication	RNEM +2.5 points	5.7%	8.2%
Health Care	RNEM +2.3 points	2.0%	4.3%
Industrials	JEMA +2.1 points	6.1%	4.0%
Utilities	RNEM +1.9 points	1.5%	3.4%
Consumer Discretionary	RNEM +1.8 points	8.3%	10.1%
Real Estate	RNEM +0.1 points	0.6%	0.7%

Country, concentration and asset class

Country by domicile

Country weights in JEMA and RNEM, widest gap first
Country	More in JEMAMore in RNEM	JEMA	RNEM
India	RNEM +21.3 points	10.8%	32.1%
South Korea	JEMA +21.1 points	21.1%	0.0%
Taiwan	JEMA +10.4 points	28.4%	18.0%
China	JEMA +7.1 points	19.7%	12.6%
Brazil	RNEM +4.1 points	6.1%	10.2%
Thailand	RNEM +3.0 points	0.6%	3.6%
Mexico	RNEM +3.1 points	2.2%	5.3%
South Africa	RNEM +3.0 points	3.6%	6.6%
Other countries (16)	RNEM +4.2 points	7.4%	11.6%

Outside the US: JEMA 2% developed, 98% emerging. RNEM 0% developed, 100% emerging.

Concentration

Weight in the 10 largest Holdings

JEMA40.5%
RNEM26.0%

Securities held

JEMA477
RNEM272

Asset class

JEMA: Equity
RNEM: Equity

Holdings

Only in JEMA414
In both63
Only in RNEM209

Only in JEMA

414 securities, 88.9% of JEMA by weight

Taiwan Semiconductor16.14%
Samsung Electronics Co8.50%
Sk Hynix Inc Common5.27%
Tencent Holdings Ltd2.83%
Mediatek Inc Common1.60%
JPMorgan Prime Money1.51%
Alibaba Group Holding1.42%
Hdfc Bank Ltd Common1.15%
Netease Inc Common Stock1.05%
Ase Technology Holding1.04%
Petroleo Brasileiro SA -0.97%
Grupo Financiero Banorte0.78%
Bajaj Finance Ltd Common0.75%
Icici Bank Ltd Common0.73%
Midea Group Co Ltd0.67%
H World Group Ltd0.65%
Aia Group Ltd Common0.63%
Zijin Mining Group Co0.62%
Kweichow Moutai Co Ltd0.61%
Kia Corp Common Stock0.57%
Contemporary Amperex0.56%
Accton Technology Corp0.53%
Delta Electronics Inc0.51%
Kotak Mahindra Bank Ltd0.51%
Banco Btg Pactual SA0.48%
Credicorp Ltd Common0.48%
Techtronic Industries Co0.47%
Grupo Mexico Sab De Cv0.47%
Banco Bilbao Vizcaya0.47%
Shinhan Financial Group0.47%
Hdfc Bank Ltd Adr USD0.47%
Al Rajhi Bank Common0.46%
Reliance Industries Ltd0.44%
Mercadolibre Inc Common0.41%
Hana Financial Group Inc0.41%
Bharti Airtel Ltd Common0.40%
National Bank of Greece0.39%
Quanta Computer Inc0.39%
Nu Holdings Ltd/Cayman0.36%
Piraeus Bank SA Common0.36%
Mahindra & Ltd0.36%
Tata Consultancy0.34%
Hanwha Aerospace Co Ltd0.33%
Nu Holdings Ltd/Cayman0.33%
Lenovo Group Ltd Common0.32%
Advantech Co Ltd Common0.31%
Axia Energia SA Common0.31%
Anta Sports Products Ltd0.30%
Petroleo Brasileiro SA -0.30%
Global Unichip Corp0.27%

Only in RNEM

209 securities, 76.8% of RNEM by weight

Shree Cement Limited3.12%
Bajaj Auto Limited2.88%
Pidilite Industries Ltd.2.78%
Reliance Insurance PLC2.76%
Kotak Mahindra Bank Limited2.65%
Anand Rathi Wealth Limited2.54%
ICICI Bank Limited2.53%
HDFC Bank Limited2.35%
SBI Life Insurance Company Limited2.34%
China Steel Corporation2.03%
AngloGold Ashanti Plc2.00%
Taiwan Cement Corporation1.89%
Asia Cement Corporation1.86%
Bharti Airtel Ltd.1.84%
Far Eastern New Century Corporation1.75%
Petroleo Brasileiro S.A. (Petrobras) (Preference Shares)1.08%
America Movil, S.A.B. de C.V. (Class B)0.79%
Caixa Seguridade Participacoes SA0.75%
BB Seguridade Participacoes S.A.0.73%
Bank of Communications Co., Ltd. (Class H)0.70%
Postal Savings Bank of China Co., Ltd. (Class H)0.69%
First Financial Holding Co., Ltd.0.69%
Mega Financial Holding Co., Ltd.0.66%
Chang Hwa Commercial Bank0.66%
Taiwan Cooperative Financial Holding Co., Ltd.0.66%
China Everbright Bank Co. Ltd. (Class H)0.66%
The Shanghai Commercial & Savings Bank, Ltd.0.66%
Midea Group Co., Ltd. (Class H)0.64%
Fubon Financial Holding Co., Ltd.0.63%
Taiwan Business Bank0.60%
Taiwan Mobile Co., Ltd.0.60%
Chunghwa Telecom Co., Ltd.0.60%
Far EasTone Telecommunications Co., Ltd.0.59%
Taichung Commercial Bank0.59%
Chailease Holding Co., Ltd.0.58%
Naspers Limited (Class N)0.52%
Apollo Hospitals Enterprise Limited0.51%
Cipla Limited0.50%
Power Grid Corporation of India Limited0.49%
Grupo Mexico, S.A.B. de C.V. (Class B)0.49%
Lupin Limited0.49%
Alkem Laboratories Limited0.49%
Sun Pharmaceutical Industries Limited0.48%
NTPC Limited0.47%
Torrent Pharmaceuticals Ltd.0.47%
The Tata Power Company Limited0.47%
International Container Terminal Services, Inc.0.44%
Industrias Penoles, S.A.B. de C.V.0.43%
Ambev S.A.0.38%
Marico Limited0.34%

Weight gaps

All 63 Holdings in both funds, largest gap first.

Holding weights in JEMA and RNEM, widest gap first
Holding	More in JEMAMore in RNEM	JEMA	RNEM
Vibra Energia SA Common	RNEM +0.77 points	0.03%	0.80%
Agricultural Bank of	RNEM +0.67 points	0.05%	0.72%
Industrial & Commercial	RNEM +0.61 points	0.09%	0.70%
China Citic Bank Corp	RNEM +0.60 points	0.09%	0.69%
Picc Property & Casualty	RNEM +0.56 points	0.11%	0.67%
China Minsheng Banking	RNEM +0.56 points	0.07%	0.63%
E.sun Financial Holding	RNEM +0.55 points	0.10%	0.65%
Haier Smart Home Co Ltd	RNEM +0.52 points	0.08%	0.60%
Porto Seguro SA Common	RNEM +0.51 points	0.15%	0.66%
Banco Bradesco SA	RNEM +0.50 points	0.02%	0.52%
Bank of China Ltd Common	RNEM +0.49 points	0.20%	0.69%
Itausa SA Preference Brl	RNEM +0.48 points	0.11%	0.59%
Sinopac Financial	RNEM +0.48 points	0.14%	0.62%
Banco Do Brasil SA	RNEM +0.43 points	0.07%	0.50%
Fuyao Glass Industry	JEMA +0.43 points	0.66%	0.23%
China Petroleum &	RNEM +0.31 points	0.14%	0.45%
Motiva Infraestrutura De	RNEM +0.31 points	0.02%	0.33%
Gerdau SA Preference Brl	RNEM +0.27 points	0.03%	0.30%
Orlen SA Common Stock Pln	RNEM +0.26 points	0.15%	0.41%
China Shenhua Energy Co	RNEM +0.26 points	0.13%	0.39%
China Construction Bank	RNEM +0.26 points	0.46%	0.72%
Grupo Cibest SA	RNEM +0.25 points	0.08%	0.33%
Cosco Shipping Holdings	RNEM +0.24 points	0.03%	0.27%
Shoprite Holdings Ltd	JEMA +0.24 points	0.34%	0.10%
Sanlam Ltd Common Stock	RNEM +0.22 points	0.05%	0.27%
Wal-Mart De Mexico Sab De	RNEM +0.21 points	0.10%	0.31%
Discovery Ltd Common	RNEM +0.21 points	0.05%	0.26%
Bank Central Asia Tbk Pt	JEMA +0.19 points	0.37%	0.18%
Ctbc Financial Holding	RNEM +0.17 points	0.49%	0.66%
Credicorp Ltd CommonBAP	RNEM +0.16 points	0.31%	0.47%
Weg SA Common Stock Brl	RNEM +0.16 points	0.22%	0.38%
Standard Bank Group Ltd	RNEM +0.16 points	0.09%	0.25%
Mtn Group Ltd Common	RNEM +0.15 points	0.19%	0.34%
Otp Bank Nyrt Common	RNEM +0.14 points	0.51%	0.65%
Capitec Limited Common	JEMA +0.14 points	0.40%	0.26%
Bank Polska Kasa Opieki	RNEM +0.14 points	0.06%	0.20%
Petrochina Co Ltd Common	RNEM +0.13 points	0.32%	0.45%
Absa Group Ltd	RNEM +0.11 points	0.14%	0.25%
Aselsan Elektronik Sanayi	JEMA +0.11 points	0.18%	0.07%
Tupras-Turkiye Petrol	RNEM +0.10 points	0.02%	0.12%
Cia Paranaense De	RNEM +0.09 points	0.11%	0.20%
Itau Unibanco Holding SA	JEMA +0.09 points	0.70%	0.61%
Mol Hungarian Oil & Gas	RNEM +0.09 points	0.05%	0.14%
Astra International Tbk	RNEM +0.08 points	0.03%	0.11%
Ping An Insurance Group	JEMA +0.08 points	0.73%	0.65%
Tiger Brands Ltd Common	RNEM +0.09 points	0.02%	0.11%
Cia De Saneamento Basico	RNEM +0.08 points	0.12%	0.20%
Powszechna Kasa	RNEM +0.08 points	0.12%	0.20%
Firstrand Ltd Common	RNEM +0.07 points	0.17%	0.24%
Coca-Cola Icecek As	RNEM +0.07 points	0.02%	0.09%
Clicks Group Ltd Common	RNEM +0.06 points	0.04%	0.10%
Benefit Systems SA Common	JEMA +0.06 points	0.10%	0.04%
Telkom Indonesia Persero	JEMA +0.05 points	0.18%	0.13%
Telefonica Brasil SA	RNEM +0.03 points	0.04%	0.07%
China Merchants Bank Co	JEMA +0.04 points	0.77%	0.73%
Bim Birlesik Magazalar As	RNEM +0.04 points	0.04%	0.08%
Powszechny Zaklad	RNEM +0.03 points	0.19%	0.22%
Bidvest Group Ltd Common	JEMA +0.02 points	0.08%	0.06%
Bank Rakyat Indonesia	Same weight	0.20%	0.20%
Nedbank Group Ltd Common	JEMA +0.01 points	0.25%	0.24%
Kghm Polska Miedz SA	JEMA +0.01 points	0.11%	0.10%
Bid Corp Ltd Common	JEMA +0.01 points	0.11%	0.10%
Budimex SA Common Stock	Same weight	0.04%	0.04%

All 483 JEMA holdings⁠All 286 RNEM 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.

JEMA vs RNEM Cost

Overpaying RNEM vs JEMA

$7,745

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

JEMA 0.33%
$6,737
RNEM 0.75%
$14,482

Amount$10,000

Years30 years

Cost over time

JEMA 0.33%
RNEM 0.75%
Overpaying

Year by year

Year	JEMA	RNEM	Overpaying
10	$598	$1,336	$738
20	$2,318	$5,078	$2,760
30	$6,737	$14,482	$7,745

Expense ratio

0.33%JEMA, cheaper
0.75%RNEM

JEMA0.33%RNEM0.75%

0.33%0.85%

Middle half of Emerging Markets Active Equity funds
Median 0.65%

JEMA cheapest of 27 funds

RNEM 20th cheapest of 27 funds

JEMA vs RNEM Dividends

Last 12 months to Oct 30, 2026

Yield (12M): JEMA 2.55%, better; RNEM 2.37%
Payout (12M): JEMA $1.43; RNEM $1.32
Last payment: JEMA $1.43; RNEM $0.63
Ex-dividend: JEMA Dec 16, 2025; RNEM Sep 24, 2026
Paid on: JEMA Dec 18, 2025; RNEM Sep 30, 2026
Frequency: JEMA Annual; RNEM Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

JEMAAnnual · 7 paymentsAll JEMA payments⁠

RNEMQuarterly · 30 paymentsAll RNEM payments⁠

JEMA vs RNEM Risk

Fall from peak · 5 years

JEMA
RNEM

Risk facts

VolatilityStd dev, 3 years: JEMA 16.7%RNEM 9.8%, better
Return per unit of riskSharpe ratio, 3 years: JEMA 1.03, betterRNEM 0.48
Worst fallMax drawdown, 5 years: JEMA −36.5%RNEM −21.4%, better
Market sensitivityBeta, 5 years: JEMA 1.05RNEM 0.61; Market = 1

JEMA and RNEM in the news

All news⁠

ETF Filings
Franklin Templeton files Templeton Emerging Markets Insights ETF at 0.64%
Oct 22, 2026JEMA
New ETFs
Avantis Investors' Avantis U.S. Core Equity ETF AVUC overlaps a fund it already runs
Oct 16, 2026JEMA
ETF Filings
JOHCM files to add emerging-markets and international ETFs at Advisors' Inner Circle Fund II
Sep 21, 2026JEMA
ETF Filings
Causeway files its first ETFs into a 0.22% to 0.39% category, its own fee blank
Sep 18, 2026JEMA
ETF Filings
Franklin Templeton files two enhanced ETFs to absorb its international core funds
Sep 18, 2026JEMA

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