BBLB vs. JQUA

Last updated Jul 15, 2026

BBLB (JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF) and JQUA (JPMorgan U.S. Quality Factor ETF) are both exchange-traded funds - BBLB is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond 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 3 years, BBLB returned -1.91%/yr vs 18.79%/yr for JQUA. At a 0.20 correlation, their price movements are largely independent. BBLB charges 0.04%/yr vs 0.12%/yr for JQUA.

Performance

BBLB vs. JQUA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF (BBLB) 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, BBLB achieves a -1.35% return, which is significantly lower than JQUA's 15.11% return.

BBLB

• 1D: 0.17%
• 1M: -1.44%
• 6M: -1.94%
• YTD: -1.35%
• 1Y: 2.86%
• 3Y*: -1.91%
• 5Y*: —
• 10Y*: —

JQUA

• 1D: 0.25%
• 1M: 2.14%
• 6M: 13.07%
• YTD: 15.11%
• 1Y: 21.56%
• 3Y*: 18.79%
• 5Y*: 13.35%
• 10Y*: —

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

BBLB vs. JQUA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BBLB JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF	-1.35%	4.26%	-7.84%	-2.80%
JQUA JPMorgan U.S. Quality Factor ETF	15.11%	11.69%	21.21%	15.96%

Correlation

The correlation between BBLB and JQUA is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (All Time) Calculated using the full available price history since Apr 20, 2023	0.20

Return for Risk

BBLB vs. JQUA — Risk / Return Rank

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

BBLB

BBLB Risk / Return Rank: 14
BBLB Sharpe Ratio Rank: 15
BBLB Sortino Ratio Rank: 13
BBLB Omega Ratio Rank: 13
BBLB Calmar Ratio Rank: 14
BBLB Martin Ratio Rank: 14

JQUA

JQUA Risk / Return Rank: 73
JQUA Sharpe Ratio Rank: 71
JQUA Sortino Ratio Rank: 71
JQUA Omega Ratio Rank: 66
JQUA Calmar Ratio Rank: 75
JQUA Martin Ratio Rank: 82

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.

BBLB vs. JQUA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF (BBLB) 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.

	BBLB	JQUA	Difference
Sharpe ratio: Return per unit of total volatility	0.31	1.80	-1.49
Sortino ratio: Return per unit of downside risk	0.51	2.54	-2.03
Omega ratio: Gain probability vs. loss probability	1.06	1.31	-0.26
Calmar ratio: Return relative to maximum drawdown	0.38	3.04	-2.66
Martin ratio: Return relative to average drawdown	0.89	12.42	-11.53

BBLB vs. JQUA - Sharpe Ratio Comparison

The current BBLB Sharpe Ratio is 0.31, which is lower than the JQUA Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of BBLB 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

BBLB vs. JQUA - Drawdown Comparison

The maximum BBLB drawdown since its inception was -21.06%, smaller than the maximum JQUA drawdown of -32.92%. Use the drawdown chart below to compare losses from any high point for BBLB and JQUA.

Drawdown Indicators

	BBLB	JQUA	Difference
Max Drawdown Largest peak-to-trough decline	-21.06%	-32.92%	+11.86%
Max Drawdown (1Y) Largest decline over 1 year	-7.53%	-7.13%	-0.40%
Max Drawdown (3Y) Largest decline over 3 years	-18.68%	-16.81%	-1.87%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.47%	—
Current Drawdown Current decline from peak	-9.84%	-0.21%	-9.63%
Average Drawdown Average peak-to-trough decline	-8.91%	-4.12%	-4.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.23%	1.74%	+1.49%

Volatility

BBLB vs. JQUA - Volatility Comparison

The current volatility for JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF (BBLB) is 2.55%, while JPMorgan U.S. Quality Factor ETF (JQUA) has a volatility of 4.01%. This indicates that BBLB 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

	BBLB	JQUA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.55%	4.01%	-1.46%
Volatility (6M) Calculated over the trailing 6-month period	6.84%	9.56%	-2.72%
Volatility (1Y) Calculated over the trailing 1-year period	9.37%	12.03%	-2.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.69%	15.75%	-2.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.69%	17.97%	-4.28%

BBLB vs. JQUA - Expense Ratio Comparison

BBLB has a 0.04% expense ratio, which is lower than JQUA's 0.12% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BBLB vs. JQUA - Dividend Comparison

BBLB's dividend yield for the trailing twelve months is around 5.05%, more than JQUA's 1.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BBLB JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF	5.05%	5.03%	5.34%	2.82%	0.00%	0.00%	0.00%	0.00%	0.00%	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 BBLB and JQUA in my portfolio?

BBLB and JQUA have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBLB or JQUA?

JQUA has higher volatility (4.01%) compared to BBLB (2.55%). In terms of maximum drawdown, BBLB dropped -21.06% vs JQUA's -32.92%.

Which ETF is better, BBLB or JQUA?

On 3-year performance, JQUA leads with 18.79% vs -1.91% for BBLB. On fees, BBLB is cheaper at 0.04% per year. On volatility, BBLB has been the lower-risk option at 2.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBLB or JQUA?

Over the 3-year period, JQUA has performed better with a 18.79% return vs -1.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBLB or JQUA?

BBLB is cheaper with a 0.04% expense ratio, compared with 0.12% for JQUA.

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

BBLB has the higher dividend yield at 5.05%, compared with 1.08% for JQUA.

What is the main difference between BBLB and JQUA?

BBLB is categorized as Government Bonds, while JQUA is Large Cap Blend Equities. BBLB tracks ICE U.S. Treasury 20+ Year Bond Index, while JQUA tracks JP Morgan US Quality Factor Index. Their fees differ too: 0.04% for BBLB and 0.12% for JQUA.

Which has better risk-adjusted returns?

JQUA currently has the higher Sharpe Ratio (1.80 vs 0.31), 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.