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 haves 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 $32.6 billion Avantis US Small Cap Value ETF AVUV, which gained 4.8%. The bottom performer was the $41.8 billion JPMorgan Nasdaq Equity Premium Income ETF JEPQ, which lost 5.12%.

Here’s more about the performance of the largest active ETFs.

DFA US Core Equity 2 Portfolio-ETF Class Shares DFAC

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

In October, the DFA US Core Equity 2 Portfolio-ETF Class Shares rose 0.99%, while the average large blend fund lost 0.21%. The fund outperformed 75% of its peers and beat its benchmark, the Russell 3000 Index, by 1.63 percentage points.

The $87.6 billion fund has climbed 15.31% over the past year, outperforming the average fund in its category, which rose 10.98%. The Dimensional fund, launched in October 2026, has climbed 22.23% over the past three years annualized and gained 11.37% annualized over the past five years.

JPMorgan Equity Premium Income ETF JEPI

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

The JPMorgan Equity Premium Income ETF gained 3.05% in October, outperforming the average fund in the derivative income - diversified category, which fell 1.02%. The fund outperformed 87% of its peers and beat its benchmark, the S&P 500 Index, by 3.92 percentage points.

The $46 billion fund has gained 9.64% over the past year, while the average fund in its category is up 10.32%. The JPMorgan fund, launched in May 2020, has climbed 11.53% over the past three years annualized and gained 7.45% annualized over the past five years.

DFA US Core Equity 1 Portfolio DCOR

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

The DFA US Core Equity 1 Portfolio gained 1.06% in October, outperforming the average fund in the large blend category, which fell 0.21%. The fund outperformed 76% of its peers and beat its benchmark, the Russell 3000 Index, by 1.70 percentage points.

The $45 billion fund has gained 15.14% over the past year, while the average fund in its category is up 10.98%. The Dimensional fund, launched in September 2026, has climbed 22.50% over the past three years annualized and gained 11.57% annualized over the past five years.

JPMorgan Ultra-Short Income ETF JPST

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

The $42.4 billion JPMorgan Ultra-Short Income ETF rose 0.46% in October. The gain on the fund beat the 0.44% gain on the average fund in the ultrashort bond category, outperforming 58% of its peers. The fund lagged its benchmark, the Bloomberg US Aggregate Bond Index, by 1.98 percentage points.

Over the past year, the JPMorgan fund rose 3.56%, while the average fund in its category rose 3.73%. The fund, launched in May 2017, has climbed 4.93% over the past three years annualized and gained 3.89% annualized over the past five years.

JPMorgan Nasdaq Equity Premium Income ETF JEPQ

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

The $41.8 billion JPMorgan Nasdaq Equity Premium Income ETF fell 5.12% in October. The loss on the fund was worse than the 1.02% loss on the average fund in the derivative income - diversified category, underperforming 83% of its peers. The fund edged out its benchmark, the NASDAQ 100 Index, by 1.51 percentage points.

Over the past year, the JPMorgan fund rose 9.49%, while the average fund in its category rose 10.32%. The fund, launched in May 2022, has gained 20.03% over the past three years annualized.

iShares US Equity Factor Rotation Active ETF DYNF

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

The $41.5 billion iShares US Equity Factor Rotation Active ETF fell 2.76% in October. The loss on the fund was worse than the 0.21% loss on the average fund in the large blend category, underperforming 90% of its peers. The fund fell further than its benchmark, the MSCI USA Index, by 1.78 percentage points.

Over the past year, the iShares fund rose 11.62%, while the average fund in its category rose 10.98%. The fund, launched in March 2019, has climbed 26.69% over the past three years annualized and gained 13.82% annualized over the past five years.

Capital Group Dividend Value ETF CGDV

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

The Capital Group Dividend Value ETF lost 0.04% in October, underperforming the average fund in the large value category, which rose 4.56%. The fund underperformed 97% of its peers and edged out its benchmark, the S&P 500 Index, by 0.83 percentage points.

The $38.8 billion fund has gained 15.97% over the past year, while the average fund in its category is up 20.69%. The Capital Group fund, launched in February 2022, has gained 25.18% over the past three years annualized.

DFA US Small Cap Portfolio-ETF Class Shares DFAS

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

In October, the DFA US Small Cap Portfolio-ETF Class Shares rose 2.93%, while the average small blend fund gained 2.12%. The fund outperformed 65% of its peers and beat its benchmark, the Russell 3000 Index, by 3.57 percentage points.

The $34.7 billion fund has climbed 18.96% over the past year, outperforming the average fund in its category, which rose 17.49%. The Dimensional fund, launched in October 2026, has climbed 18.87% over the past three years annualized and gained 7.83% annualized over the past five years.

Avantis US Small Cap Value ETF AVUV

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

The $32.6 billion Avantis US Small Cap Value ETF rose 4.80% in October. The gain on the fund beat the 3.99% gain on the average fund in the small value category, outperforming 66% of its peers. The fund beat its benchmark, the Russell 3000 Index, by 5.44 percentage points.

Over the past year, the American Century fund rose 27.93%, while the average fund in its category rose 22.27%. The fund, launched in September 2019, has climbed 20.47% over the past three years annualized and gained 11.33% 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 0.47% in October, outperforming the average fund in the securitized bond - focused category, which rose 0.40%. The fund outperformed 79% of its peers and lagged its benchmark, the Bloomberg US Aggregate Bond Index, by 1.97 percentage points.

The $32.3 billion fund has gained 4.80% over the past year, while the average fund in its category is up 4.23%. The Janus Henderson fund, launched in October 2020, has climbed 6.14% over the past three years annualized and gained 5.10% annualized over the past five years.