JMEE vs MSSM: Grades, Fees and Holdings Compared

JPMorgan Small & Mid Cap Enhanced Equity ETF

JMEEANYSE Arca

Morgan Stanley Pathway Small-Mid Cap Equity ETF

MSSMCNYSE Arca

Overlap

36.4%by weight

Expense ratio

JMEE −0.28pt a year

JMEE0.34%MSSM0.62%

Avg volume · 30D

JMEE 7.4×the volume

JMEE121KMSSM16.2K

JMEE vs MSSM Performance

Nov 3, 2025 – Nov 3, 2026

+20.3%JMEE+17.1%MSSM

Expense ratio: JMEE 0.34%, better; MSSM 0.62%
Fund size: JMEE $2.96B; MSSM $701M
1Y total return: JMEE +20.3%, better; MSSM +17.1%
Yield (12M): JMEE 0.96%; MSSM No data
Holdings: JMEE 678; MSSM 1825
Avg volume (30D): JMEE 121K sh, better; MSSM 16.2K sh
NAV per share: JMEE $75.29; MSSM $58.19
52W range

ETF.net Grade

Pillar letters and Scores for JMEE, MSSM, with each pillar’s weight
Pillar	JMEE	MSSM
Cost30% weight	A87Higher	C41
Mission25% weight	Not scored	Not scored
Risk15% weight	C49Higher	D31
Tradability15% weight	B57Higher	B56
Holdings10% weight	A89	A90Higher
Durability5% weight	A96Higher	A79

Rank among US Active Small/Mid-Cap funds

How we build Categories ›

Same Category. JMEE and MSSM 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 MSSM 21st 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 80
Rank 3ADFMCU.S. Micro Cap Portfolio ETFScore 77
Rank 4AJMEEJPMorgan Small & Mid Cap Enhanced Equity ETFScore 74
Rank 5AREMCColumbia Research Enhanced Mid Cap ETFScore 70
Rank 19CDSMCDistillate Small/Mid Cash Flow ETFScore 54
Rank 21CMSSMMorgan Stanley Pathway Small-Mid Cap Equity ETFScore 51
Rank 21CRNINBushido Capital US SMID Cap Equity ETFScore 51

Our read on each fund

ETF.net Research

JMEEAJPMorgan Small & Mid Cap Enhanced Equity ETF

MSSMCMorgan Stanley Pathway Small-Mid Cap Equity ETF

In short

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%.

MSSM No data

Stated mandate

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.

MSSM No data

Why people hold it

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.

MSSM No data

Worth knowing

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.

MSSM No data

Full JMEE profile⁠

Full MSSM profile⁠

JMEE vs MSSM Holdings

How JMEE and MSSM differ

Overlap by weight

36.4%

Shared holdings make up 90.6% of JMEE and 51.4% of MSSM.

Level by level

Holdings628 in both36.4%
Sector11 Sectors88.2%
Countryby domicile97.9%
Asset classEquity100%

Sector

Sector weights in JMEE and MSSM, widest gap first
Sector	Gap	JMEE	MSSM
Health Care	MSSM +6.8 points	10.6%	17.4%
Industrials	JMEE +3.2 points	19.9%	16.7%
Real Estate	JMEE +2.8 points	7.6%	4.8%
Technology	MSSM +2.7 points	15.8%	18.5%
Utilities	MSSM +2.0 points	2.2%	4.2%
Consumer Discretionary	JMEE +1.6 points	11.7%	10.1%
Energy	JMEE +1.6 points	5.8%	4.2%
Materials	JMEE +1.2 points	4.9%	3.7%
Financials	JMEE +1.1 points	15.4%	14.3%
Communication	MSSM +0.3 points	2.2%	2.5%
Consumer Staples	JMEE +0.1 points	3.9%	3.8%

Country, concentration and asset class

Country by domicile

Country weights in JMEE and MSSM, widest gap first
Country	Gap	JMEE	MSSM
United States	JMEE +1.2 points	98.9%	97.7%
Canada	MSSM +0.7 points	0.0%	0.7%
United Kingdom	JMEE +0.7 points	0.8%	0.1%
Other countries (17)	MSSM +1.0 points	0.4%	1.4%

Concentration

Weight in the 10 largest Holdings

JMEE9.5%
MSSM7.6%

Securities held

JMEE677
MSSM1,824

Asset class

JMEE: Equity
MSSM: Equity

Holdings

Only in JMEE49
In both628
Only in MSSM1,196

Only in JMEE

49 securities, 9.2% of JMEE by weight

JPMorgan Prime Money4.35%
Okta Inc Common Stock0.76%
Entegris Inc0.29%
Rb Global Inc0.21%
Biomarin Pharmaceutical0.21%
Fortrea Holdings Inc0.20%
Schrodinger Inc/United0.19%
Sterling Infrastructure0.18%
Vir Biotechnology Inc0.17%
Transunion Common Stock0.16%
Carlisle Cos Inc Common0.14%
Autoliv Inc Common Stock0.14%
Tandem Diabetes Care Inc0.14%
Lincoln National Corp0.14%
Capri Holdings Ltd Common0.13%
Pinterest Inc Common0.13%
Versigent Ltd Common0.11%
Blackline Inc Common0.10%
Lkq Corp Common Stock USD0.08%
Genpact Ltd Common Stock0.08%
Everforth Inc Common0.07%
Corteva Inc Common Stock0.07%
Blackbaud Inc Common0.07%
Carter's Inc Common Stock0.07%
Edgewell Personal Care0.06%
Adient PLC Common Stock0.06%
Sprinklr Inc Common Stock0.06%
Cushman & Wakefield Ltd0.06%
Dxc Technology Co Common0.06%
Legalzoom.com Inc Common0.05%
Concentrix Corp Common0.05%
Zoominfo Technologies0.05%
Centerspace0.05%
Coty Inc Common Stock0.05%
Atlas Energy Solutions0.04%
Manpowergroup Inc Common0.04%
Millerknoll Inc Common0.04%
Newell Brands Inc Common0.04%
Wolverine World Wide Inc0.03%
Inspire Medical Systems0.03%
Sarepta Therapeutics Inc0.03%
Reynolds Consumer0.03%
Wendy's Co/The Common0.02%
Simply Good Foods Co/The0.02%
Solaredge Technologies0.02%
Fox Factory Holding Corp0.02%
Six Flags Entertainment0.02%
Jetblue Airways Corp0.02%
S&P Mid 400 12/18/2026<0.01%

Only in MSSM

1,196 securities, 46.6% of MSSM by weight

Ascendis Pharma A/S0.77%
Moderna Inc0.56%
Texas Capital Bancshares Inc0.53%
Brightspring Health Services0.51%
Varonis Systems Inc0.50%
Gitlab Inc-Cl A0.48%
Aercap Holdings NV0.46%
Imax Corp0.44%
Ormat Technologies Inc0.42%
Rhythm Pharmaceuticals Inc0.42%
Everest Group Ltd0.41%
Vaxcyte Inc0.40%
Hasbro Inc0.39%
Casella Waste Systems Inc-A0.38%
Irhythm Holdings Inc0.38%
Avery Dennison Corp0.38%
Oruka Therapeutics Inc0.34%
Charles River Laboratories0.33%
Huntington Bancshares Inc0.32%
Ptc Therapeutics Inc0.31%
Marex Group Ltd0.30%
First Citizens Bcshs -Cl A0.29%
Axis Capital Holdings Ltd0.29%
Jfrog Ltd0.29%
Amneal Pharmaceuticals Inc0.28%
Norwegian Cruise Line Holdin0.27%
Relay Therapeutics Inc0.27%
Portland General Electric Co0.27%
Calix Inc0.27%
Crane Nxt Co0.27%
Abivax Sa-Adr0.26%
Commvault Systems Inc0.26%
Procore Technologies Inc0.26%
Atmos Energy Corp0.25%
Brightstar Lottery PLC0.25%
Lionsgate Studios Corp0.25%
Central Bancompany0.24%
Invesco Ltd0.24%
Devon Energy Corp0.24%
Icf International Inc0.24%
C.h. Robinson Worldwide Inc0.24%
Pentair PLC0.24%
Versigent PLC0.24%
Chesapeake Utilities Corp0.24%
Legend Biotech Corp-Adr0.24%
Pjt Partners Inc - A0.23%
Spyre Therapeutics Inc0.23%
Adt Inc0.23%
Descartes Systems Grp/The0.23%
Teledyne Technologies Inc0.23%

Weight gaps

The 100 widest of 628 Holdings in both funds.

Holding weights in JMEE and MSSM, widest gap first
Holding	Gap	JMEE	MSSM
United Therapeutics CorpUTHR	JMEE +0.67 points	0.76%	0.09%
Halozyme TherapeuticsHALO	JMEE +0.48 points	0.56%	0.08%
Nvent Electric PLC CommonNVT	JMEE +0.47 points	0.54%	0.07%
Kbr Inc Common Stock USDKBR	MSSM +0.46 points	0.20%	0.66%
Life Time Group HoldingsLTH	MSSM +0.44 points	0.10%	0.54%
Dynatrace IncDT	MSSM +0.41 points	0.30%	0.71%
Ati Inc Common Stock USDATI	JMEE +0.41 points	0.47%	0.06%
Openlane Inc CommonOPLN	MSSM +0.40 points	0.08%	0.48%
Watts Water TechnologiesWTS	JMEE +0.40 points	0.45%	0.05%
Viasat Inc Common StockVSAT	MSSM +0.40 points	0.34%	0.74%
Veeco Instruments IncVECO	MSSM +0.39 points	0.07%	0.46%
Curtiss-Wright CorpCW	JMEE +0.39 points	0.47%	0.08%
Brinker International IncEAT	MSSM +0.38 points	0.16%	0.54%
Pinnacle FinancialPNFP	JMEE +0.36 points	0.44%	0.08%
Jazz Pharmaceuticals PLCJAZZ	JMEE +0.35 points	0.39%	0.04%
Protagonist TherapeuticsPTGX	JMEE +0.35 points	0.40%	0.05%
Hf Sinclair Corp CommonDINO	JMEE +0.34 points	0.44%	0.10%
Oge Energy Corp CommonOGE	JMEE +0.35 points	0.40%	0.05%
Chefs' Warehouse Inc/TheCHEF	MSSM +0.34 points	0.11%	0.45%
Donaldson Co Inc CommonDCI	JMEE +0.34 points	0.39%	0.05%
Woodward Inc CommonWWD	JMEE +0.33 points	0.41%	0.08%
Xpo Inc Common Stock USDXPO	JMEE +0.33 points	0.38%	0.05%
Wintrust Financial CorpWTFC	MSSM +0.32 points	0.19%	0.51%
Rbc Bearings Inc CommonRBC	JMEE +0.31 points	0.39%	0.08%
Evercore Inc Common StockEVR	JMEE +0.31 points	0.39%	0.08%
Firstcash Holdings IncFCFS	MSSM +0.31 points	0.14%	0.45%
Reinsurance Group ofRGA	JMEE +0.31 points	0.39%	0.08%
Tenable Holdings IncTENB	MSSM +0.31 points	0.11%	0.42%
Alarm.com Holdings IncALRM	JMEE +0.30 points	0.34%	0.04%
Nutanix Inc Common StockNTNX	JMEE +0.30 points	0.34%	0.04%
Mastec Inc Common StockMTZ	JMEE +0.29 points	0.32%	0.03%
Owens Corning CommonOC	JMEE +0.29 points	0.34%	0.05%
Haemonetics Corp CommonHAE	MSSM +0.29 points	0.30%	0.59%
Granite Construction IncGVA	JMEE +0.29 points	0.32%	0.03%
Rambus Inc Common StockRMBS	MSSM +0.29 points	0.13%	0.42%
Brady Corp Common StockBRC	JMEE +0.29 points	0.30%	<0.01%
Iridium CommunicationsIRDM	JMEE +0.29 points	0.32%	0.03%
Digitalocean HoldingsDOCN	JMEE +0.29 points	0.33%	0.04%
Ovintiv Inc Common StockOVV	JMEE +0.29 points	0.40%	0.11%
Crown Holdings Inc CommonCCK	JMEE +0.28 points	0.36%	0.08%
Palomar Holdings IncPLMR	MSSM +0.28 points	0.08%	0.36%
Medpace Holdings IncMEDP	JMEE +0.29 points	0.38%	0.09%
Northwestern Energy GroupNWE	MSSM +0.28 points	0.08%	0.36%
Arrow Electronics IncARW	JMEE +0.28 points	0.34%	0.06%
Dxp Enterprises Inc/TxDXPE	JMEE +0.28 points	0.29%	0.01%
Toll Brothers Inc CommonTOL	JMEE +0.27 points	0.36%	0.09%
Timken Co/The CommonTKR	JMEE +0.27 points	0.31%	0.04%
Regal Rexnord Corp CommonRRX	MSSM +0.27 points	0.20%	0.47%
Agree Realty Corp ReitADC	JMEE +0.27 points	0.31%	0.04%
Southwest Gas HoldingsSWX	JMEE +0.27 points	0.30%	0.03%
Performance Food Group CoPFGC	JMEE +0.26 points	0.35%	0.09%
Indivior PharmaceuticalsINDV	MSSM +0.25 points	0.05%	0.30%
Enersys Common Stock USDENS	JMEE +0.26 points	0.29%	0.03%
Antero Resources CorpAR	JMEE +0.26 points	0.31%	0.05%
Interdigital Inc CommonIDCC	JMEE +0.25 points	0.29%	0.04%
Hanover Insurance GroupTHG	MSSM +0.25 points	0.10%	0.35%
Commercial Metals CoCMC	JMEE +0.24 points	0.28%	0.04%
Sharkninja Inc CommonSN	JMEE +0.24 points	0.35%	0.11%
Dt Midstream Inc CommonDTM	JMEE +0.24 points	0.31%	0.07%
Bankunited Inc CommonBKU	JMEE +0.24 points	0.26%	0.02%
Rithm Capital Corp ReitRITM	JMEE +0.23 points	0.24%	<0.01%
Dime CommercialDCOM	JMEE +0.23 points	0.24%	0.01%
Five Below Inc CommonFIVE	JMEE +0.23 points	0.31%	0.08%
Silgan Holdings IncSLGN	JMEE +0.23 points	0.25%	0.02%
Sprouts Farmers MarketSFM	MSSM +0.23 points	0.09%	0.32%
Graco Inc Common StockGGG	JMEE +0.23 points	0.28%	0.05%
Guidewire Software IncGWRE	JMEE +0.23 points	0.29%	0.06%
United Community BanksUCB	JMEE +0.22 points	0.24%	0.02%
Associated Banc-CorpASB	JMEE +0.22 points	0.25%	0.03%
Essential PropertiesEPRT	JMEE +0.22 points	0.24%	0.02%
Ryman HospitalityRHP	MSSM +0.23 points	0.26%	0.49%
Travel & Leisure CoTNL	JMEE +0.22 points	0.25%	0.03%
Voya Financial Inc CommonVOYA	MSSM +0.21 points	0.03%	0.24%
Matson Inc Common StockMATX	JMEE +0.22 points	0.26%	0.04%
Ally Financial Inc CommonALLY	JMEE +0.21 points	0.29%	0.08%
Old National Bancorp/InONB	JMEE +0.21 points	0.26%	0.05%
First American FinancialFAF	JMEE +0.22 points	0.27%	0.05%
Annaly Capital ManagementNLY	JMEE +0.22 points	0.26%	0.04%
Fidelity NationalFNF	JMEE +0.21 points	0.27%	0.06%
Innospec Inc CommonIOSP	JMEE +0.22 points	0.23%	0.01%
Fabrinet Common StockFN	JMEE +0.21 points	0.23%	0.02%
Rli Corp Common StockRLI	JMEE +0.21 points	0.23%	0.02%
Primoris Services CorpPRIM	MSSM +0.21 points	0.08%	0.29%
Neurocrine BiosciencesNBIX	JMEE +0.20 points	0.26%	0.06%
Healthequity Inc CommonHQY	MSSM +0.21 points	0.08%	0.29%
Corebridge Financial IncCRBG	JMEE +0.21 points	0.27%	0.06%
Avient Corp Common StockAVNT	MSSM +0.21 points	0.21%	0.42%
Simmons First NationalSFNC	JMEE +0.21 points	0.22%	0.01%
Aci Worldwide Inc CommonACIW	MSSM +0.21 points	0.07%	0.28%
Myr Group Inc CommonMYRG	JMEE +0.21 points	0.23%	0.02%
Duolingo Inc CommonDUOL	JMEE +0.20 points	0.22%	0.02%
Vita Coco Co Inc/TheCOCO	MSSM +0.20 points	0.16%	0.36%
Western Alliance BancorpWAL	JMEE +0.21 points	0.25%	0.04%
Burlington Stores IncBURL	JMEE +0.21 points	0.30%	0.09%
Neogenomics Inc CommonNEO	JMEE +0.20 points	0.23%	0.03%
Aramark Common Stock USDARMK	JMEE +0.20 points	0.28%	0.08%
Mueller Industries IncMLI	JMEE +0.21 points	0.27%	0.06%
Applied IndustrialAIT	MSSM +0.20 points	0.17%	0.37%
Equitable Holdings IncEQH	JMEE +0.20 points	0.30%	0.10%
Wesco International IncWCC	JMEE +0.19 points	0.30%	0.11%

All 676 JMEE holdings⁠All MSSM 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.

JMEE vs MSSM Cost

Overpaying MSSM vs JMEE

$5,247

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

JMEE 0.34%
$6,932
MSSM 0.62%
$12,179

Amount$10,000

Years30 years

Cost over time

JMEE 0.34%
MSSM 0.62%
Overpaying

Year by year

Year	JMEE	MSSM	Overpaying
10	$616	$1,111	$495
20	$2,386	$4,246	$1,860
30	$6,932	$12,179	$5,247

Expense ratio

0.34%JMEE, cheaper
0.62%MSSM

JMEE0.34%MSSM0.62%

0.18%1.10%

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

JMEE 7th cheapest of 47 funds

MSSM 28th cheapest of 47 funds

JMEE vs MSSM Dividends

Last 12 months to Nov 3, 2026

Yield (12M): JMEE 0.96%; MSSM No data
Payout (12M): JMEE $0.72; MSSM No data
Last payment: JMEE $0.72; MSSM $1.60
Ex-dividend: JMEE Dec 16, 2025; MSSM Dec 10, 2025
Paid on: JMEE Dec 18, 2025; MSSM No data
Frequency: JMEE Annual; MSSM Irregular

Distribution history

Per share, 2022 to 2026, same scale for both

JMEEAnnual · 4 paymentsAll JMEE payments⁠

MSSMIrregular · 1 paymentAll MSSM payments⁠

JMEE vs MSSM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: JMEE 15.8%MSSM 15.3%since Jan 2025
Return per unit of riskSharpe ratio, 3 years: JMEE 0.90MSSM 0.65since Jan 2025
Worst fallMax drawdown, 5 years: JMEE −25.4%since May 2022MSSM −24.1%since Dec 2024
Market sensitivityBeta, 5 years: JMEE 1.10MSSM 1.04; Market = 1

JMEE and MSSM 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

Popular comparisons

JMEEAvsAVMCA
JPMorgan Small & Mid Cap Enhanced Equity ETF · Avantis U.S. Mid Cap Equity ETF
Expense ratio
0.34% · 0.18%
Category
MSSMCvsAVMCA
Morgan Stanley Pathway Small-Mid Cap Equity ETF · Avantis U.S. Mid Cap Equity ETF
Expense ratio
0.62% · 0.18%
Category
JMEEAvsFEMVA
JPMorgan Small & Mid Cap Enhanced Equity ETF · Fidelity Enhanced Mid Cap Value ETF
Expense ratio
0.34% · 0.23%
Category
MSSMCvsFEMVA
Morgan Stanley Pathway Small-Mid Cap Equity ETF · Fidelity Enhanced Mid Cap Value ETF
Expense ratio
0.62% · 0.23%
Category
JMEEAvsDFMCA
JPMorgan Small & Mid Cap Enhanced Equity ETF · U.S. Micro Cap Portfolio ETF
Expense ratio
0.34% · 0.43%
Category
MSSMCvsDFMCA
Morgan Stanley Pathway Small-Mid Cap Equity ETF · U.S. Micro Cap Portfolio ETF
Expense ratio
0.62% · 0.43%
Category

JMEE vs MSSM

In short

Stated mandate

Why people hold it