What Is the JMOM ETF? A Complete Guide to Returns, Expense Ratio, Holdings, and Alternative ETFs
A momentum factor ETF built on the Russell 1000, it features a below-average expense ratio for its category and broad diversification across about 270 stocks.
SubscribeWhat Is This ETF?
It tracks a momentum index calculated by JP Morgan and holds Russell 1000 constituents that show a clear recent upward price trend. It is passively managed and spreads its investments across about 270 stocks.
It suits investors who aim to harvest the momentum factor premium over the long term rather than chase short-term performance.
It is a passively managed (index-tracking) ETF launched by JP Morgan Asset Management in 2017.
How Does It Invest?
| Item | Details |
|---|---|
| Tracked Index | JP Morgan US Momentum Factor Index |
| Management Style | Passive (index tracking) |
| Rebalancing Frequency | Semiannual |
| Dividend Frequency | Quarterly |
| Total Expense Ratio | 0.12% |
From the Russell 1000 constituents, it selects stocks with high recent price momentum scores and assigns them weights. With no concentration in top holdings and an even spread across about 270 stocks, single-stock risk is low, and the structure is focused on momentum factor exposure.
- Expense ratio below the category average
- Broad diversification across about 270 stocks: the top 10 holdings' weight is markedly lower than the category average
Size and Costs
Assets under management (AUM) stand at $2.5B, and the total expense ratio is 0.12% per year.
Compared with similar-category ETFs such as MTUM and SPMO, it has lower concentration in top holdings, so the impact of individual stock volatility is smaller.
Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeThe momentum factor tends to perform relatively well during periods of clear market trends, while sharp short-term declines known as momentum crashes can occur during abrupt market reversals. Overall performance tends to move in line with the weighting of technology and growth stocks.
Momentum factor ETFs tend to see active inflows in risk-on environments, while outflows across factor strategies as a whole can occur when volatility rises. Steady institutional demand for passive factor strategies keeps the AUM base stable.
Strengths and Weaknesses
Its strengths are a low expense ratio and broad diversification, while the sudden-reversal risk inherent in the momentum factor is the main weakness.
💪 Key Strengths
⚠️ Points to Watch
Alternative ETFs and Related Products
Among those shown in the table, MTUM is the flagship ETF for the same momentum strategy, with large assets and high liquidity, while SPMO is based on S&P 500 constituents and is therefore concentrated in large caps. VFMO has a structure that blends momentum within Vanguard's multifactor approach. As a direct substitute there is MMTM, and for small-cap momentum you can also compare XSMO or XMMO. If you want to broaden factor strategies into multifactor exposure, options such as LRGF or PDP are also available.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 SPMO | Invesco S&P 500 Momentum ETF | $124.41 | +1.6% | $19.2B | 0.13% | 0.88% | +5.3% |
 MTUM | iShares MSCI USA Momentum Factor ETF | $63.76 | +1.9% | $15.6B | 0.15% | 0.73% | +3.3% |
 XMMO | Invesco S&P MidCap Momentum ETF | $129.57 | +2.7% | $6.0B | 0.34% | 0.76% | -4.0% |
 XSMO | Invesco S&P SmallCap Momentum ETF | $77.20 | +1.2% | $2.6B | 0.35% | 0.66% | +7.9% |
 USVM | VictoryShares US Small Mid Cap Value Momentum ETF | $103.74 | -0.0% | $1.8B | 0.29% | 1.96% | +17.5% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| GOOGL | Alphabet Inc | 0.02% | $284.66 | +0.7% | $3.47T | 14.9 | 0.31% |
| AVGO | Broadcom Inc | 0.04% | $293.11 | +0.5% | $1.40T | 37.4 | 0.89% |
| AAPL | Apple Inc | 0.02% | $342.37 | -0.5% | $4.98T | 38.1 | 0.34% |
| NVDA | NVIDIA Corp | 0.04% | $186.71 | +2.8% | $4.50T | 23.6 | 0.42% |
| GOOG | Alphabet Inc | 0.02% | $283.71 | +0.7% | $3.47T | 14.8 | 0.31% |
| MSFT | Microsoft Corp | 0.02% | $530.61 | -1.0% | $3.94T | 27.7 | 0.73% |
| AMD | Advanced Micro Devices Inc | 0.02% | $449.04 | +11.0% | $736.5B | 97.6 | - |
| JNJ | Johnson & Johnson | 0.02% | $276.22 | +1.4% | $664.9B | 41.9 | 1.93% |
Investor Checkpoints
These are the key points to check before investing in JMOM. The momentum factor is a trend-following strategy that can react sensitively to shifts in market regimes, so it is important to understand the factor's characteristics and rebalancing structure in advance.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the cost level relative to the category average | Remains at a low level |
| 📊 Factor Regime | Assess whether the current market is in a trend phase favorable to the momentum factor | Needs verification |
| 🔄 Rebalancing | Be aware that holdings may change around the semiannual rebalancing dates | Semiannual |
| 💱 Exchange Rate | As a dollar-denominated asset, returns converted to won will fluctuate | No currency hedge |
The momentum factor carries the risk of sharp short-term declines when market trends reverse, and a larger weighting in growth stocks can increase volatility during turbulent markets. Investors should also recognize in advance that, given the semiannual rebalancing structure, it is hard to respond immediately to fast-moving markets.
It is a momentum factor ETF with a low expense ratio and broad diversification, making it a cost-efficient choice for investors interested in factor investing. If liquidity is the priority, we recommend comparing it with MTUM, and if you want large-cap concentration, with SPMO.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
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