BBAX vs. JQUA

Last updated Jul 14, 2026

BBAX (JPMorgan BetaBuilders Developed Asia ex-Japan ETF) and JQUA (JPMorgan U.S. Quality Factor ETF) are both exchange-traded funds - BBAX is a Asia Pacific Equities fund tracking the Morningstar Developed Asia Pacific ex-Japan Target Market Exposure Index, while JQUA is a Large Cap Blend Equities fund tracking the JP Morgan US Quality Factor Index. Both are passively managed. Over the past 5 years, BBAX returned 5.62%/yr vs 13.24%/yr for JQUA. A 0.70 correlation means they provide meaningful diversification when combined. BBAX charges 0.19%/yr vs 0.12%/yr for JQUA.

Performance

BBAX vs. JQUA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX) and JPMorgan U.S. Quality Factor ETF (JQUA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBAX achieves a 10.34% return, which is significantly lower than JQUA's 14.82% return.

BBAX

• 1D: -0.54%
• 1M: 0.50%
• 6M: 7.66%
• YTD: 10.34%
• 1Y: 15.92%
• 3Y*: 11.79%
• 5Y*: 5.62%
• 10Y*: —

JQUA

• 1D: -0.46%
• 1M: 1.89%
• 6M: 12.32%
• YTD: 14.82%
• 1Y: 21.62%
• 3Y*: 18.70%
• 5Y*: 13.24%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BBAX vs. JQUA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF	10.34%	20.21%	2.50%	5.60%	-4.80%	5.53%	8.02%	18.66%	-9.65%
JQUA JPMorgan U.S. Quality Factor ETF	14.82%	11.69%	21.21%	25.13%	-13.45%	28.68%	16.56%	28.47%	-4.86%

Correlation

The correlation between BBAX and JQUA is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (All Time) Calculated using the full available price history since Aug 8, 2018	0.70

The correlation between BBAX and JQUA has been stable across timeframes, ranging from 0.61 to 0.70 - a consistent structural relationship.

BBAX vs. JQUA - Sectors Allocation Comparison

Sectors	BBAX	JQUA
Financial Services	45.0%	12.3%
Basic Materials	17.5%	1.8%
Real Estate	8.4%	2.2%
Industrials	8.0%	8.3%
Consumer Cyclical	5.2%	9.5%
Healthcare	4.1%	8.7%
Utilities	3.2%	2.2%
Consumer Defensive	3.1%	5.4%
Energy	2.7%	3.3%
Communication Services	2.7%	5.3%
Technology	0.2%	39.6%

Return for Risk

BBAX vs. JQUA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BBAX

BBAX Risk / Return Rank: 39
BBAX Sharpe Ratio Rank: 37
BBAX Sortino Ratio Rank: 36
BBAX Omega Ratio Rank: 36
BBAX Calmar Ratio Rank: 44
BBAX Martin Ratio Rank: 40

JQUA

JQUA Risk / Return Rank: 73
JQUA Sharpe Ratio Rank: 71
JQUA Sortino Ratio Rank: 70
JQUA Omega Ratio Rank: 66
JQUA Calmar Ratio Rank: 75
JQUA Martin Ratio Rank: 81

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BBAX vs. JQUA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX) and JPMorgan U.S. Quality Factor ETF (JQUA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BBAX	JQUA	Difference
Sharpe ratio: Return per unit of total volatility	1.08	1.81	-0.72
Sortino ratio: Return per unit of downside risk	1.57	2.55	-0.98
Omega ratio: Gain probability vs. loss probability	1.20	1.31	-0.12
Calmar ratio: Return relative to maximum drawdown	1.77	3.05	-1.27
Martin ratio: Return relative to average drawdown	5.11	12.44	-7.33

BBAX vs. JQUA - Sharpe Ratio Comparison

The current BBAX Sharpe Ratio is 1.08, which is lower than the JQUA Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of BBAX and JQUA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BBAX vs. JQUA - Drawdown Comparison

The maximum BBAX drawdown since its inception was -39.64%, which is greater than JQUA's maximum drawdown of -32.92%. Use the drawdown chart below to compare losses from any high point for BBAX and JQUA.

Drawdown Indicators

	BBAX	JQUA	Difference
Max Drawdown Largest peak-to-trough decline	-39.64%	-32.92%	-6.72%
Max Drawdown (1Y) Largest decline over 1 year	-9.01%	-7.13%	-1.88%
Max Drawdown (3Y) Largest decline over 3 years	-20.12%	-16.81%	-3.31%
Max Drawdown (5Y) Largest decline over 5 years	-23.21%	-22.47%	-0.74%
Current Drawdown Current decline from peak	-3.31%	-0.46%	-2.85%
Average Drawdown Average peak-to-trough decline	-7.18%	-4.13%	-3.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.12%	1.74%	+1.38%

Volatility

BBAX vs. JQUA - Volatility Comparison

The current volatility for JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX) is 3.98%, while JPMorgan U.S. Quality Factor ETF (JQUA) has a volatility of 4.37%. This indicates that BBAX experiences smaller price fluctuations and is considered to be less risky than JQUA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBAX	JQUA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.98%	4.37%	-0.39%
Volatility (6M) Calculated over the trailing 6-month period	12.54%	9.57%	+2.97%
Volatility (1Y) Calculated over the trailing 1-year period	14.80%	12.05%	+2.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.37%	15.75%	+1.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.64%	17.97%	+1.67%

BBAX vs. JQUA - Expense Ratio Comparison

BBAX has a 0.19% expense ratio, which is higher than JQUA's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BBAX vs. JQUA - Dividend Comparison

BBAX's dividend yield for the trailing twelve months is around 3.68%, more than JQUA's 1.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF	3.68%	3.86%	4.13%	4.17%	5.06%	5.47%	2.57%	4.07%	1.36%	0.00%
JQUA JPMorgan U.S. Quality Factor ETF	1.08%	1.19%	1.24%	1.21%	1.60%	1.32%	1.44%	1.67%	2.10%	0.40%

Frequently Asked Questions

Can I hold both BBAX and JQUA in my portfolio?

BBAX and JQUA have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBAX or JQUA?

JQUA has higher volatility (4.37%) compared to BBAX (3.98%). In terms of maximum drawdown, BBAX dropped -39.64% vs JQUA's -32.92%.

Which ETF is better, BBAX or JQUA?

On 5-year performance, JQUA leads with 13.24% vs 5.62% for BBAX. On fees, JQUA is cheaper at 0.12% per year. On volatility, BBAX has been the lower-risk option at 3.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBAX or JQUA?

Over the 5-year period, JQUA has performed better with a 13.24% return vs 5.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBAX or JQUA?

JQUA is cheaper with a 0.12% expense ratio, compared with 0.19% for BBAX.

Which ETF pays a higher dividend yield, BBAX or JQUA?

BBAX has the higher dividend yield at 3.68%, compared with 1.08% for JQUA.

What is the main difference between BBAX and JQUA?

BBAX is categorized as Asia Pacific Equities, while JQUA is Large Cap Blend Equities. BBAX tracks Morningstar Developed Asia Pacific ex-Japan Target Market Exposure Index, while JQUA tracks JP Morgan US Quality Factor Index. Their fees differ too: 0.19% for BBAX and 0.12% for JQUA.

Which has better risk-adjusted returns?

JQUA currently has the higher Sharpe Ratio (1.81 vs 1.08), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.