BBAX vs. JQUA

Last updated Aug 2, 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 Quality Factor fund tracking the JP Morgan US Quality Factor Index. Both are passively managed. Over the past 5 years, BBAX returned 6.75%/yr vs 12.89%/yr for JQUA. Their 0.69 correlation means they have sometimes moved together and sometimes differently. 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

The year-to-date returns for both stocks are quite close, with BBAX having a 15.03% return and JQUA slightly lower at 14.93%.

BBAX

• 1D: -1.35%
• 1M: 6.08%
• 6M: 7.30%
• YTD: 15.03%
• 1Y: 21.39%
• 3Y*: 13.55%
• 5Y*: 6.75%
• 10Y*: —
• ALL TIME*: 7.20%

JQUA

• 1D: 0.08%
• 1M: 0.33%
• 6M: 13.64%
• YTD: 14.93%
• 1Y: 22.21%
• 3Y*: 18.11%
• 5Y*: 12.89%
• 10Y*: —
• ALL TIME*: 14.71%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF	$14.49M	$15.50M	$15.90M
JQUA JPMorgan U.S. Quality Factor ETF	$26.79M	$28.22M	$36.46M

BBAX vs. JQUA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF	15.03%	20.21%	2.50%	5.60%	-4.80%	5.53%	8.02%	18.66%	-9.65%
JQUA JPMorgan U.S. Quality Factor ETF	14.93%	11.69%	21.21%	25.13%	-13.45%	28.68%	16.56%	28.47%	-4.86%

Correlation

The correlation between BBAX and JQUA is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.59
Correlation (3Y) Balances recent behavior with more history.	0.62
Correlation (5Y) Shows whether the relationship held over a longer period.	0.67
Correlation (All Time) Calculated using the full available price history since Aug 8, 2018	0.69

The correlation between BBAX and JQUA shifts across timeframes, from 0.59 (1 year) to 0.69 (all time), reflecting how their relationship changes across market environments.

BBAX vs. JQUA - Sectors Allocation Comparison

Sectors	BBAX	JQUA
Financial Services	45.5%	12.0%
Basic Materials	16.4%	1.7%
Industrials	8.2%	8.9%
Real Estate	7.6%	2.2%
Consumer Cyclical	5.7%	9.5%
Healthcare	4.9%	8.8%
Consumer Defensive	3.4%	5.2%
Utilities	3.2%	1.2%
Communication Services	2.5%	6.2%
Energy	2.5%	3.3%
Technology	0.2%	41.0%

Return for Risk

BBAX vs. JQUA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BBAX

BBAX Risk / Return Rank: 59
BBAX Sharpe Ratio Rank: 59
BBAX Sortino Ratio Rank: 58
BBAX Omega Ratio Rank: 57
BBAX Calmar Ratio Rank: 67
BBAX Martin Ratio Rank: 57

JQUA

JQUA Risk / Return Rank: 79
JQUA Sharpe Ratio Rank: 77
JQUA Sortino Ratio Rank: 77
JQUA Omega Ratio Rank: 73
JQUA Calmar Ratio Rank: 81
JQUA Martin Ratio Rank: 86

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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	1.40	1.75	-0.35
Sortino ratio: Return per unit of downside risk	1.98	2.48	-0.49
Omega ratio: Gain probability vs. loss probability	1.25	1.30	-0.05
Calmar ratio: Return relative to maximum drawdown	2.34	2.95	-0.61
Martin ratio: Return relative to average drawdown	6.74	12.05	-5.31

BBAX vs. JQUA - Sharpe Ratio Comparison

The current BBAX Sharpe Ratio is 1.40, which is comparable to the JQUA Sharpe Ratio of 1.75. 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	-1.35%	-0.36%	-0.99%
Average Drawdown Average peak-to-trough decline	-7.14%	-4.10%	-3.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.12%	1.74%	+1.38%

Volatility

BBAX vs. JQUA - Volatility Comparison

JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX) has a higher volatility of 3.97% compared to JPMorgan U.S. Quality Factor ETF (JQUA) at 2.34%. This indicates that BBAX's price experiences larger fluctuations and is considered to be riskier 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	3.97%	2.34%	+1.63%
Volatility (6M) Calculated over the trailing 6-month period	12.65%	9.47%	+3.18%
Volatility (1Y) Calculated over the trailing 1-year period	15.08%	12.04%	+3.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.39%	15.72%	+1.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.62%	17.93%	+1.69%

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 3.53%, 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	3.53%	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 0.59, 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?

BBAX has higher volatility (3.97%) compared to JQUA (2.34%). 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 12.89% vs 6.75% for BBAX. On fees, JQUA is cheaper at 0.12% per year. On volatility, JQUA has been the lower-risk option at 2.34%. 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 12.89% return vs 6.75%. 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 3.53%, 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 Quality Factor. 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 (1.75 vs 1.40), 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.