Karachi: April 10, 2026, marked a significant date for JS Investment Limited as its exchange-traded fund (ETF), JSMFETF, demonstrated notable performance metrics. The ETF, aimed at tracking the JS Momentum Factor Index, reported net assets totaling PKR 1,004.12 million, according to its latest financial disclosures.
The fund, launched on January 7, 2022, is structured as an open-end exchange-traded fund, with a management fee capped at 0.75% per annum, although currently set at 0.68% per annum. The total expense ratio for the month stood at 2.71%, inclusive of government levies and SECP fees. The trustee for this fund is the Central Depository Company of Pakistan Ltd., and the fund’s high-risk profile is reinforced by its AM1 management quality rating from PACRA, assigned on November 5, 2025.
The performance of JSMFETF, when reviewed against the benchmark, shows a small but notable outperformance in the one-year category, where the fund recorded a -14.20% compared to the benchmark’s -14.36%, a differential classified as a minor move. Over three years, however, the benchmark outpaced the fund with a performance of 12.47% to the fund’s 9.92%, a differential considered a moderate move.
According to information available from the Pakistan Stock Exchange (PSX), the fund’s monthly performance for the fiscal year 2026 shows fluctuations, with a very large move in September at 18.50%. In contrast, the fund experienced a significant downtrend in February at -12.00% and March at -14.20%.
The JS Momentum Factor Index, the fund’s benchmark, also showed swings in performance, with an 8.79% increase in fiscal year 2026. This range of performance highlights the volatility and potential for strategic gains within the exchange-traded fund market segment.
The fund remains listed on the Pakistan Stock Exchange, leveraging a market price mechanism for pricing, and operates from Monday to Friday during the PSX market hours. The auditing responsibilities are handled by A. F. Ferguson & Co., ensuring compliance and financial transparency.
The latest reports suggest that the fund has maintained a steady course, despite market volatilities, with its strategic focus on a specific basket of equity securities designed to track the benchmark index’s performance.