JMEE vs SMOX

JMEEAJPMorgan Small & Mid Cap Enhanced Equity ETF

SMOXCHorizon Small/Mid Cap Core 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%.

SMOX Horizon's December 2025 launch pairs human managers with quant models and aims them at US small and mid caps, a corner most of its actively managed US equity peers skip in favor of large-cap core.

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.

SMOX The fund seeks capital appreciation through a combination of active management and quantitative models while investing in U.S. small- and mid-cap equities.

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.

• SMOX Goes down the cap ladder to US small and mid caps while the top-scoring funds in its active US equity cohort (DFAU, FELC, AVLC) all sit in large-cap core.
• Runs on both judgment and machines: active management combined with quantitative models, rather than committing to one lane.
• Holds roughly 300 stocks, so no single small-cap stumble drives the outcome. That breadth is a real strength versus concentrated active funds.
• Lands in the upper half of a crowded active US equity peer group despite being brand new, helped by diversification and a contained risk profile.

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.

• SMOX Charges 0.75% a year, above the 0.65% median for active US equity funds and several times the 0.12% to 0.26% the cohort's top names charge.
• Launched December 2025, so there's no multi-year record yet to show how the models behave across a full market cycle.
• Trades thinly, which usually means wider bid-ask spreads than the household names in the category. Distributions come annually or semiannually, not monthly.

Full JMEE profile⁠

Full SMOX profile⁠