JMEE vs TMSL

JMEEAJPMorgan Small & Mid Cap Enhanced Equity ETF

TMSLBT. Rowe Price Small-Mid Cap 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%.

TMSL T. Rowe Price's small- and mid-cap stock pickers, in an ETF wrapper since 2023. Roughly 300 hand-chosen names aimed at long-term capital growth, priced under the typical active US equity fund.

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.

TMSL The fund seeks long-term capital growth.

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.

• TMSL Charges 0.55% a year against a 0.65% median for active US equity ETFs. Below-average freight for a shop that still pays humans to pick the stocks.
• Roughly 300 holdings, which is broad for an active portfolio. No single small-cap name carries the whole fund.
• One of the smoother active funds in its group to trade, with assets in the billions since its 2023 launch. Getting in and out is rarely the sticking point.
• Stacks up as one of the stronger overall builds in a crowded field of active US equity ETFs.

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.

• TMSL Small and mid caps move harder in both directions than large caps. Risk is the softest part of this fund's profile, so the ride is bumpier than a total-market holding.
• Index-tracking rivals in the same cohort, like DFAC and AVLC, run near 0.15%. The extra cost here buys stock selection, not market exposure.
• No declared benchmark on file to measure it against, so results hinge on the managers' calls. Distributions land once or twice a year, not monthly.

Full JMEE profile⁠

Full TMSL profile⁠