JEMA vs RWEM: Grades, Fees and Holdings Compared

JPMorgan ActiveBuilders Emerging Markets Equity ETF

JEMAANasdaq

Rayliant Wilshire NxtGen Emerging Markets Equity ETF

RWEMCNYSE Arca

Overlap

20.7%by weight

Expense ratio

JEMA −0.19pt a year

JEMA0.33%RWEM0.52%

Avg volume · 30D

JEMA 15.8×the volume

JEMA147KRWEM9.32K

3Y return · a year

JEMA +0.6pt

JEMA+21.3%RWEM+20.7%

JEMA vs RWEM Performance

Oct 31, 2025 – Nov 2, 2026

+16.5%JEMA+15.9%RWEM

Expense ratio: JEMA 0.33%, better; RWEM 0.52%
Fund size: JEMA $1.59B; RWEM $73M
1Y total return: JEMA +16.5%, better; RWEM +15.9%
Yield (12M): JEMA 2.54%, better; RWEM 1.91%
Holdings: JEMA 484; RWEM 241
Avg volume (30D): JEMA 147K sh, better; RWEM 9.32K sh
NAV per share: JEMA $56.18; RWEM $33.31
52W range

ETF.net Grade

Pillar letters and Scores for JEMA, RWEM, with each pillar’s weight
Pillar	JEMA	RWEM
Cost30% weight	A94Higher	B62
Mission25% weight	Not scored	Not scored
Risk15% weight	B58Higher	D28
Tradability15% weight	A78Higher	C45
Holdings10% weight	Not scored	A76
Durability5% weight	A89Higher	C47

Rank among Emerging Markets Active Equity funds

How we build Categories ›

Same Category. JEMA and RWEM 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 RWEM 11th of 27 funds in the Emerging Markets Active Equity Category.

Rank 1AAVEMAvantis Emerging Markets Equity ETFScore 86
Rank 2AJEMAJPMorgan ActiveBuilders Emerging Markets Equity ETFScore 81
Rank 3AAVSEAvantis Responsible Emerging Markets Equity ETFScore 79
Rank 11CBREEMFS Blended Research Emerging Markets Equity ETFScore 52
Rank 11CRWEMRayliant Wilshire NxtGen Emerging Markets Equity ETFScore 52
Rank 13CEMOPAB Emerging Markets Opportunities ETFScore 51

Our read on each fund

ETF.net Research

JEMAAJPMorgan ActiveBuilders Emerging Markets Equity ETF

RWEMCRayliant Wilshire NxtGen Emerging Markets Equity 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.

RWEM A Rayliant and Wilshire tie-up in active emerging-markets equity: one job, long-term capital appreciation, at a fee below what the typical active EM peer charges. Small and thinly traded, so patience at the order screen comes with it.

Stated mandate

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

RWEM The Fund seeks long-term capital appreciation.

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.

RWEM Charges 0.52% against a 0.65% median for active emerging-markets funds. Modest toll for a stock-picking mandate in the markets where research actually earns its keep.
Sits in the upper half of a crowded active EM field, and what it owns is its strongest suit: portfolio construction grades better than most of the group.
The mandate is one line in the prospectus: long-term capital appreciation from emerging-markets equities. No sleeve creep, no side quests.
Trading since 2021, so there is a multi-year live record to judge rather than a backtest and a brochure.

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.

RWEM Thinly traded and modest in size. Spreads can run wide and larger orders can nudge the price, which quietly eats into the fee advantage.
Emerging-markets equity swings hard. Currency moves and policy shocks land straight in the price, and this fund's volatility profile sits at the rougher end of its peer group.
Below median is not the floor. The best-graded funds in the cohort (AVEM, JEMA, AVXC) run 0.33%, so cheaper active EM shelf space exists.

Full JEMA profile⁠

Full RWEM profile⁠

JEMA vs RWEM Holdings

How JEMA and RWEM differ

Overlap by weight

20.7%

Shared holdings make up 41.8% of RWEM and 31.1% of JEMA.

Level by level

Holdings59 in both20.7%
Countryby domicile89.7%
Sector11 Sectors91.6%
Asset classEquity100%

Sector

Sector weights in JEMA and RWEM, widest gap first
Sector	More in JEMAMore in RWEM	JEMA	RWEM
Financials	JEMA +4.6 points	23.0%	18.4%
Communication	RWEM +4.0 points	5.7%	9.7%
Consumer Discretionary	JEMA +2.5 points	8.3%	5.8%
Health Care	RWEM +1.6 points	2.0%	3.6%
Industrials	JEMA +0.9 points	6.1%	5.2%
Materials	RWEM +0.7 points	3.7%	4.4%
Energy	RWEM +0.8 points	3.6%	4.4%
Technology	RWEM +0.7 points	43.4%	44.1%
Utilities	RWEM +0.3 points	1.5%	1.8%
Consumer Staples	RWEM +0.3 points	2.1%	2.4%
Real Estate	JEMA +0.3 points	0.6%	0.3%

Country, concentration and asset class

Country by domicile

Country weights in JEMA and RWEM, widest gap first
Country	More in JEMAMore in RWEM	JEMA	RWEM
China	RWEM +4.8 points	19.7%	24.5%
Brazil	JEMA +3.8 points	6.1%	2.3%
South Africa	RWEM +2.0 points	3.6%	5.6%
Mexico	JEMA +1.8 points	2.2%	0.4%
Hong Kong	JEMA +1.1 points	1.5%	0.4%
Chile	RWEM +1.2 points	0.0%	1.2%
Poland	RWEM +1.1 points	0.8%	1.9%
India	RWEM +1.0 points	10.8%	11.8%
Other countries (16)	JEMA +3.1 points	55.2%	52.1%

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

Concentration

Weight in the 10 largest Holdings

JEMA40.2%
RWEM33.1%

Securities held

JEMA475
RWEM237

Asset class

JEMA: Equity
RWEM: Equity

Holdings

Only in JEMA416
In both59
Only in RWEM178

Only in JEMA

416 securities, 69.2% of JEMA by weight

Samsung Electronics Co8.09%
Sk Hynix Inc Common5.17%
Alibaba Group Holding1.45%
JPMorgan Prime Money1.45%
Hdfc Bank Ltd Common1.15%
Ase Technology Holding Co1.02%
Petroleo Brasileiro SA -0.93%
Grupo Financiero Banorte0.78%
Bajaj Finance Ltd Common0.76%
China Merchants Bank Co0.74%
Icici Bank Ltd Common0.73%
Itau Unibanco Holding SA0.68%
Midea Group Co Ltd Common0.65%
H World Group Ltd0.65%
Kweichow Moutai Co Ltd0.63%
Aia Group Ltd Common0.62%
Zijin Mining Group Co0.60%
Kia Corp Common Stock0.56%
Otp Bank Nyrt Common0.51%
Kotak Mahindra Bank Ltd0.50%
Reliance Industries Ltd0.49%
Ctbc Financial Holding Co0.48%
Banco Bilbao Vizcaya0.47%
Hdfc Bank Ltd Adr USD0.47%
Grupo Mexico Sab De Cv0.47%
Techtronic Industries Co0.47%
Credicorp Ltd Common0.46%
Banco Btg Pactual SA0.46%
Al Rajhi Bank Common0.46%
China Construction Bank0.46%
Shinhan Financial Group0.45%
Mercadolibre Inc Common0.42%
Bharti Airtel Ltd Common0.40%
Hana Financial Group Inc0.39%
National Bank of Greece0.39%
Quanta Computer Inc0.38%
Nu Holdings Ltd/Cayman0.37%
Bank Central Asia Tbk Pt0.37%
Mahindra & Ltd0.36%
Hanwha Aerospace Co Ltd0.35%
Piraeus Bank SA Common0.34%
Shoprite Holdings Ltd0.33%
Credicorp Ltd Common0.32%
Petrochina Co Ltd Common0.32%
Nu Holdings Ltd/Cayman0.32%
Axia Energia SA Common0.31%
Anta Sports Products Ltd0.30%
Advantech Co Ltd Common0.30%
Gold Fields Ltd Common0.29%
Petroleo Brasileiro SA -0.27%

Only in RWEM

178 securities, 58.1% of RWEM by weight

Samsung Electronics Co Ltd5.89%
Sk Hynix Inc3.98%
Hcl Technologies Ltd2.63%
Lg Corp2.28%
Samsung Electronics Co Ltd1.29%
Woori Financial Group Inc1.26%
Gazprom Neft Pjsc1.21%
Winbond Electronics Corp1.11%
Geely Automobile Holdings Lt0.95%
Novatek Microelectronics Cor0.91%
H World Group Limited0.82%
Sun Pharmaceutical Indus0.80%
Bank of Communications Co-H0.78%
Pharmaessentia Corp0.72%
Asustek Computer Inc0.71%
Citic Ltd0.66%
Sk Square Co Ltd0.65%
Sk Inc0.64%
Cspc Pharmaceutical Group Lt0.61%
Far Eastone Telecomm Co Ltd0.61%
Pegatron Corp0.58%
Remgro Ltd0.56%
Agricultural Bank of China-A0.52%
Kia Corp0.50%
Britannia Industries Ltd0.49%
Hansoh Pharmaceutical Group0.49%
China Tower Corp Ltd-H0.48%
Bharat Petroleum Corp Ltd0.47%
Samsung Fire & Marine Ins0.46%
Bb Seguridade Participacoes0.44%
Db Insurance Co Ltd0.44%
Sociedad Quimica y Minera de Chile SA0.43%
Apr Corp/Korea0.42%
Pidilite Industries Ltd0.41%
Outsurance Group Ltd0.41%
Hd Hyundai0.41%
Marico Ltd0.40%
Hero Motocorp Ltd0.40%
Ind & Comm Bk of China-A0.40%
Indian Oil Corp Ltd0.39%
Bank of Communications Co-A0.37%
Vale SA0.37%
Sino Biopharmaceutical0.36%
Richter Gedeon Nyrt0.36%
Eva Airways Corp0.34%
Saudi Telecom Co0.34%
Hindustan Petroleum Corp0.34%
Vipshop Holdings Ltd - Adr0.34%
Abu Dhabi National Oil Co Fo0.32%
Bharti Airtel Ltd0.30%

Weight gaps

All 59 Holdings in both funds, largest gap first.

Holding weights in JEMA and RWEM, widest gap first
Holding	More in JEMAMore in RWEM	JEMA	RWEM
Taiwan Semiconductor	JEMA +5.40 points	15.16%	9.76%
Delta Electronics Inc	RWEM +2.13 points	0.51%	2.64%
Picc Property & Casualty	RWEM +1.37 points	0.11%	1.48%
Agricultural Bank of	RWEM +1.34 points	0.05%	1.39%
Tencent Holdings Ltd	JEMA +1.24 points	2.87%	1.63%
Chroma Ate Inc Common	RWEM +0.87 points	0.22%	1.09%
Realtek Semiconductor	RWEM +0.81 points	0.14%	0.95%
Sanlam Ltd Common Stock	RWEM +0.78 points	0.05%	0.83%
Powszechny Zaklad	RWEM +0.73 points	0.18%	0.91%
Infosys Ltd Common Stock	RWEM +0.72 points	0.21%	0.93%
Innolux Corp Common Stock	RWEM +0.65 points	0.12%	0.77%
Bank of China Ltd Common	RWEM +0.62 points	0.19%	0.81%
China Citic Bank Corp	RWEM +0.61 points	0.09%	0.70%
Tupras-Turkiye Petrol	RWEM +0.61 points	0.02%	0.63%
Fuyao Glass Industry	JEMA +0.60 points	0.67%	0.07%
Aspeed Technology Inc	RWEM +0.59 points	0.25%	0.84%
Oil & Natural Gas Corp	RWEM +0.58 points	0.02%	0.60%
Lite-On Technology Corp	RWEM +0.57 points	0.17%	0.74%
Asia Vital Components Co	RWEM +0.54 points	0.06%	0.60%
Orlen SA Common Stock Pln	RWEM +0.52 points	0.15%	0.67%
Vibra Energia SA Common	RWEM +0.51 points	0.03%	0.54%
Ping An Insurance Group	JEMA +0.50 points	0.74%	0.24%
Mol Hungarian Oil & Gas	RWEM +0.48 points	0.05%	0.53%
Motor Oil Hellas Corinth	RWEM +0.43 points	0.03%	0.46%
China Hongqiao Group Ltd	RWEM +0.42 points	0.09%	0.51%
Netease Inc Common Stock	RWEM +0.40 points	1.04%	1.44%
Contemporary Amperex	JEMA +0.39 points	0.57%	0.18%
Astra International Tbk	RWEM +0.35 points	0.03%	0.38%
Multi Commodity Exch	RWEM +0.33 points	0.09%	0.42%
Accton Technology Corp	RWEM +0.33 points	0.53%	0.86%
Kunlun Energy Co Ltd	RWEM +0.32 points	0.03%	0.35%
Discovery Ltd Common	RWEM +0.30 points	0.05%	0.35%
China Taiping Insurance	RWEM +0.28 points	0.02%	0.30%
Mpi Corp Common Stock Twd	RWEM +0.27 points	0.18%	0.45%
Hellenic	RWEM +0.25 points	0.02%	0.27%
Guangdong Investment Ltd	RWEM +0.25 points	0.02%	0.27%
Mediatek Inc Common Stock	JEMA +0.24 points	1.60%	1.36%
China Merchants Port	RWEM +0.23 points	0.03%	0.26%
Tal Education Group AdrTAL	RWEM +0.22 points	0.03%	0.25%
Gerdau SA Preference Brl	RWEM +0.20 points	0.02%	0.22%
Zhongji Innolight Co Ltd	RWEM +0.19 points	0.18%	0.37%
Banco Do Brasil SA	RWEM +0.18 points	0.06%	0.24%
China Minsheng Banking	RWEM +0.16 points	0.07%	0.23%
Grupo Cibest SA	RWEM +0.16 points	0.08%	0.24%
Sibanye Stillwater Ltd	RWEM +0.13 points	0.04%	0.17%
Clicks Group Ltd Common	RWEM +0.12 points	0.04%	0.16%
Impala Platinum Holdings	RWEM +0.11 points	0.03%	0.14%
Ultrapar Participacoes	RWEM +0.10 points	0.06%	0.16%
Global Unichip Corp	RWEM +0.10 points	0.25%	0.35%
Telkom Indonesia Persero	JEMA +0.10 points	0.18%	0.08%
Yutong Bus Co Ltd Common	JEMA +0.08 points	0.14%	0.06%
Sinotruk Hong Kong Ltd	RWEM +0.05 points	0.03%	0.08%
Bharat Heavy Electricals	RWEM +0.05 points	0.03%	0.08%
Jd.com Inc - Class A	RWEM +0.04 points	0.04%	0.08%
Lenovo Group Ltd Common	JEMA +0.03 points	0.32%	0.29%
Tata Consultancy Services	JEMA +0.03 points	0.33%	0.30%
Northam Platinum Holdings	RWEM +0.03 points	0.01%	0.04%
Cathay Financial Holding	JEMA +0.02 points	0.13%	0.11%
Capitec Limited Common	RWEM +0.01 points	0.40%	0.41%

All 483 JEMA holdings⁠All 244 RWEM 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 RWEM Cost

Overpaying RWEM vs JEMA

$3,614

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

JEMA 0.33%
$6,737
RWEM 0.52%
$10,351

Amount$10,000

Years30 years

Cost over time

JEMA 0.33%
RWEM 0.52%
Overpaying

Year by year

Year	JEMA	RWEM	Overpaying
10	$598	$935	$337
20	$2,318	$3,593	$1,275
30	$6,737	$10,351	$3,614

Expense ratio

0.33%JEMA, cheaper
0.52%RWEM

JEMA0.33%RWEM0.52%

0.33%0.85%

Middle half of Emerging Markets Active Equity funds
Median 0.65%

JEMA cheapest of 27 funds

RWEM 11th cheapest of 27 funds

JEMA vs RWEM Dividends

Last 12 months to Nov 2, 2026

Yield (12M): JEMA 2.54%, better; RWEM 1.91%
Payout (12M): JEMA $1.43; RWEM $0.64
Last payment: JEMA $1.43; RWEM $0.64
Ex-dividend: JEMA Dec 16, 2025; RWEM Dec 30, 2025
Paid on: JEMA Dec 18, 2025; RWEM Jan 7, 2026
Frequency: JEMA Annual; RWEM Annual

Distribution history

Per share, 2021 to 2026, same scale for both

JEMAAnnual · 7 paymentsAll JEMA payments⁠

RWEMAnnual · 5 paymentsAll RWEM payments⁠

JEMA vs RWEM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: JEMA 16.7%, betterRWEM 17.0%
Return per unit of riskSharpe ratio, 3 years: JEMA 1.03, betterRWEM 0.96
Worst fallMax drawdown, 5 years: JEMA −36.5%RWEM −26.9%since Dec 2021
Market sensitivityBeta, 5 years: JEMA 1.05RWEM 0.84; Market = 1

JEMA and RWEM 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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