Karachi: The JS Momentum Factor Exchange Traded Fund (JSMFETF), an open-ended fund benchmarked against the JS Momentum Factor Index, has reported a moderate growth of 2.58% for the month of May 2026. This performance comes against the backdrop of a 3.39% increase in the benchmark index for the same period, marking a difference of -0.81%.
Launched on January 7, 2022, the JSMFETF is designed to track the performance of a specific basket of equity securities. The Pakistan Stock Exchange (PSX) supports this fund with the benchmark index being periodically maintained to reflect market trends. As of June 9, 2026, the fund’s net assets stood at PKR 1,570.33 million, with net assets excluding JSIL Funds of Funds recorded at PKR 1,322.29 million. The Net Asset Value (NAV) was reported at PKR 10.33.
According to information available from the Pakistan Stock Exchange (PSX), the fund maintains a high-risk profile with no leverage and is listed under the exchange traded fund category. The management quality rating is AM1, as per PACRA, reflecting a stable outlook for investors. The management fee stands at an actual rate of 0.69% per annum, contributing to a total expense ratio of 3.24% month-to-date and 3.04% year-to-date.
The JSMFETF’s annual performance has shown varied results, with a year-to-date growth of 15.11%. This is in contrast to the benchmark’s year-to-date increase of 18.84%, resulting in a performance difference of -3.73%. Over the past year, the fund recorded a 16.90% increase, slightly trailing behind the benchmark’s 21.61% rise.
The fund, audited by A. F. Ferguson & Co., operates under the trusteeship of the Central Depository Company of Pakistan Ltd. It follows a market price pricing mechanism as per PSX market hours, with no front-end or back-end load applied. The fund’s statistical analysis indicates a monthly portfolio turnover ratio of 79.9% and a standard deviation of 33.2%, consistent with its high-risk profile.