Karachi: JS Investments Limited recently disclosed details of its JSMFETF performance, revealing a robust growth trajectory in its investment strategy. As of January 8, 2026, JS Momentum Factor ETF (JSMFETF) continues to track the JS Momentum Factor Index, a benchmark maintained by the Pakistan Stock Exchange.
The open-end Exchange Traded Fund, launched on January 7, 2022, has accumulated net assets of PKR 1,093.28 million, with the Net Asset Value (NAV) standing at PKR 13.00. According to information available from the Pakistan Stock Exchange (PSX), the JSMFETF is distinguished by its high-risk profile and is listed on the PSX with no leverage.
The management fee is reported at up to 0.75% per annum, with the actual management fee realized at 0.64% per annum. The Total Expense Ratio (TER) for the month-to-date is 2.83%, which includes a 0.43% government levy and SECP fee, while the year-to-date TER is 2.77%, incorporating a similar levy.
Sector allocation within the fund showed notable changes, particularly in the technology and communication sector, which experienced a big move with a decrease from 19.18% in November to 17.83% in December. Similarly, the fund’s equity allocation saw a big move, increasing from 95.74% in November to 97.20% in December.
The top holdings of the fund include Pakistan Telecommunication Co. Ltd. at 17.83% and Pakistan Petroleum Ltd. at 15.89%, among others. Tracking differences between the JSMFETF and its benchmark index for various periods were noted, with a 1.15% difference over one year, classified as a moderate move.
Monthly performance metrics indicated a significant move in September with an 18.50% increase, while December registered a 6.90% rise. The year-to-date performance for fiscal year 2026 stands at 34.16%, which is a big move, compared to the benchmark’s 36.30%, which also classifies as a big move.
The JSMFETF’s asset allocation as of December 2025 predominantly comprised equity at 97.20%, with minimal cash and other receivables. The fund does not employ leverage and is rated AM1 for management quality by PACRA as of November 5, 2025.
Overall, JS Investments Limited’s JSMFETF continues to demonstrate significant movements in key sectors, maintaining a strong performance aligned with its investment philosophy while navigating the dynamics of the PSX-listed index.