JEMA vs TEMR

JEMAAJPMorgan ActiveBuilders Emerging Markets Equity ETF

TEMRBT. Rowe Price Emerging Markets Equity Research 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.

TEMR T. Rowe Price's first emerging-markets ETF hands stock picking to its own analysts, then boxes them in: country, sector and industry weights track the MSCI Emerging Markets Index, so active bets happen inside each bucket, not across them.

Stated mandate

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

TEMR The fund invests primarily in equity securities of emerging-market issuers, using bottom-up stock selection and fundamental research while seeking returns above the MSCI Emerging Markets 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.

• TEMR At 0.40% a year it undercuts the typical active EM fund in its peer group (median 0.65%), though index-flavored rivals like AVEM and DFEM run cheaper still.troweprice.com
• Country, sector and industry weights sit close to the MSCI Emerging Markets index, so results ride on stock selection inside each bucket rather than big top-down country calls.troweprice.com
• Six portfolio managers sit on top of T. Rowe's global analyst bench, running the same structured research process behind its US and international research ETFs (TSPA, TIER).troweprice.com
• Fully transparent: holdings are disclosed daily, unlike T. Rowe's semi-transparent equity ETFs, which publish a proxy basket instead.troweprice.comtroweprice.com 2

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.

• TEMR It started trading in 2026, so there is no long record showing how the analysts' picks stack up against the index.troweprice.com
• Small and thinly traded so far, so spreads can be wider than on the giant passive EM funds.
• Staying near index country and sector weights cuts both ways: T. Rowe notes the fund can reallocate less freely than active funds with looser mandates.troweprice.comtroweprice.com 2

Full JEMA profile⁠

Full TEMR profile⁠