How the Largest Active ETFs Performed

Each month, we check in on the performance of the largest US active exchange-traded funds. While passive ETFs track an index, active ETFs have managers who decide which investments to own. Like index-tracking ETFs, active ETFs trade on an exchange and are typically lower-cost and more tax-efficient than traditional actively managed mutual funds.

When evaluating ETFs, investors should focus on long-term returns across multiple years and market cycles. However, short-term returns can provide valuable information about biases within strategies.

Out of the 10 largest US active ETFs, the top performer last month was the $29 billion Avantis US Small Cap Value ETF AVUV, which gained 4.33%. The bottom performer was the $25.6 billion Avantis Emerging Markets Equity ETF AVEM, which lost 0.05%. Here’s more about the performance of the largest active ETFs.

Dimensional US Core Equity 2 ETF DFAC

• Morningstar Medalist Rating
  : Gold
• Morningstar Category
  : Large Blend

The Dimensional US Core Equity 2 ETF gained 0.73% in June, outperforming the average fund in the large blend category, which fell 0.06%. The fund placed in the 26th percentile for performance and beat its benchmark, the Russell 3000 Index, by 1.03 percentage points.

The $47.3 billion fund has gained 25.02% over the past year, while the average fund in its category is up 20.01%. The Dimensional fund, launched in October 2007, has climbed 19.12% over the past three years annualized and gained 12.01% annualized over the past five years.

JPMorgan Equity Premium Income ETF JEPI

• Morningstar Medalist Rating
  : Gold
• Morningstar Category
  : Derivative Income

The JPMorgan Equity Premium Income ETF gained 1.54% in June, outperforming the average fund in the derivative income category, which fell 1.65%. The fund placed in the 24th percentile for performance and beat its benchmark, the S&P 500 Index, by 2.49 percentage points.

The $44.5 billion fund has gained 7.77% over the past year, while the average fund in its category is up 16.25%. The JPMorgan fund, launched in May 2020, has climbed 8.99% over the past three years annualized and gained 7.47% annualized over the past five years.

JPMorgan Nasdaq Equity Premium Income ETF JEPQ

• Morningstar Medalist Rating
  : Silver
• Morningstar Category
  : Derivative Income

The $39.9 billion JPMorgan Nasdaq Equity Premium Income ETF rose 1.56% in June. The gain on the fund beat the 1.65% loss on the average fund in the derivative income category, leaving it in the 23rd percentile for performance. The fund beat its benchmark, the NASDAQ 100 Index, by 1.68 percentage points.

Over the past year, the JPMorgan fund rose 25.75%, while the average fund in its category rose 16.25%. The fund, launched in May 2022, has gained 20.40% over the past three years annualized.

JPMorgan Ultra-Short Income ETF JPST

• Morningstar Medalist Rating
  : Gold
• Morningstar Category
  : Ultrashort Bond

The $39.2 billion JPMorgan Ultra-Short Income ETF rose 0.27% in June. The gain on the fund beat the 0.25% gain on the average fund in the ultrashort bond category, leaving it in the 55th percentile for performance. The fund beat its benchmark, the Bloomberg US Aggregate Bond Index, by 0.03 percentage points.

Over the past year, the JPMorgan fund rose 4.09%, while the average fund in its category rose 4.22%. The fund, launched in May 2017, has climbed 5.17% over the past three years annualized and gained 3.67% annualized over the past five years.

iShares US Equity Factor Rotation Active ETF DYNF

• Morningstar Medalist Rating
  : Silver
• Morningstar Category
  : Large Blend

The iShares US Equity Factor Rotation Active ETF gained 1.05% in June, outperforming the average fund in the large blend category, which fell 0.06%. The fund placed in the 21st percentile for performance and lagged its benchmark, the MSCI USA Index, by 4.18 percentage points.

The $37.7 billion fund has gained 26.00% over the past year, while the average fund in its category is up 20.01%. The iShares fund, launched in March 2019, has climbed 24.95% over the past three years annualized and gained 15.57% annualized over the past five years.

Capital Group Dividend Value ETF CGDV

• Morningstar Medalist Rating
  : Gold
• Morningstar Category
  : Large Value

The $36.2 billion Capital Group Dividend Value ETF rose 1.97% in June. The gain on the fund beat the 1.22% gain on the average fund in the large value category, leaving it in the 35th percentile for performance. The fund beat its benchmark, the S&P 500 Index, by 2.93 percentage points.

Over the past year, the Capital Group fund rose 26.52%, while the average fund in its category rose 21.08%. The fund, launched in February 2022, has gained 24.06% over the past three years annualized.

Avantis US Small Cap Value ETF AVUV

• Morningstar Medalist Rating
  : Gold
• Morningstar Category
  : Small Value

The Avantis US Small Cap Value ETF gained 4.33% in June, underperforming the average fund in the small value category, which rose 5.16%. The fund placed in the 73rd percentile for performance and beat its benchmark, the Russell 3000 Index, by 4.63 percentage points.

The $29 billion fund has gained 39.00% over the past year, while the average fund in its category is up 32.09%. The American Century fund, launched in September 2019, has climbed 19.06% over the past three years annualized and gained 12.29% annualized over the past five years.

Janus Henderson AAA CLO ETF JAAA

• Morningstar Medalist Rating
  : Bronze
• Morningstar Category
  : Securitized Bond - Focused

The Janus Henderson AAA CLO ETF gained 0.30% in June, underperforming the average fund in the securitized bond - focused category, which rose 0.36%. The fund placed in the 69th percentile for performance and beat its benchmark, the Bloomberg US Aggregate Bond Index, by 0.06 percentage points.

The $28.5 billion fund has gained 4.93% over the past year, while the average fund in its category is up 5.04%. The Janus Henderson fund, launched in October 2020, has climbed 6.60% over the past three years annualized and gained 4.85% annualized over the past five years.

Fidelity Total Bond ETF FBND

• Morningstar Medalist Rating
  : Gold
• Morningstar Category
  : Intermediate Core-Plus Bond

The Fidelity Total Bond ETF gained 0.31% in June, outperforming the average fund in the intermediate core-plus bond category, which rose 0.24%. The fund placed in the 33rd percentile for performance and beat its benchmark, the Bloomberg US Aggregate Bond Index, by 0.07 percentage points.

The $26.6 billion fund has gained 4.18% over the past year, while the average fund in its category is up 4.07%. The Fidelity fund, launched in October 2014, has climbed 4.91% over the past three years annualized and gained 0.79% annualized over the past five years.

Avantis Emerging Markets Equity ETF AVEM

• Morningstar Medalist Rating
  : Silver
• Morningstar Category
  : Diversified Emerging Mkts

In June, the Avantis Emerging Markets Equity ETF fell 0.05%, while the average diversified emerging markets fund lost 0.44%. The fund placed in the 46th percentile for performance and edged out its benchmark, the MSCI EM IMI Index, by 1.55 percentage points.

The $25.6 billion fund has climbed 44.17% over the past year, outperforming the average fund in its category, which rose 41.23%. The American Century fund, launched in September 2019, has climbed 24.98% over the past three years annualized and gained 9.82% annualized over the past five years.