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GARP vs. JQUA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GARP vs. JQUA

Last updated Aug 2, 2026
Documentation

GARP (iShares MSCI USA Quality GARP ETF) and JQUA (JPMorgan U.S. Quality Factor ETF) are both Quality Factor funds - GARP tracks the MSCI USA Quality GARP Select Index while JQUA tracks the JP Morgan US Quality Factor Index. Both are passively managed. Over the past 5 years, GARP returned 17.48%/yr vs 12.89%/yr for JQUA. Their correlation of 0.86 means they have usually moved in the same direction. GARP charges 0.15%/yr vs 0.12%/yr for JQUA.

Performance

GARP vs. JQUA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Quality GARP ETF (GARP) and JPMorgan U.S. Quality Factor ETF (JQUA). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, GARP achieves a 16.89% return, which is significantly higher than JQUA's 14.93% return.

GARP

1D
0.66%
1M
-1.22%
6M
14.45%
YTD
16.89%
1Y
31.75%
3Y*
28.85%
5Y*
17.48%
10Y*
—
ALL TIME*
20.07%

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

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

GARP

iShares MSCI USA Quality GARP ETF
$25.65M$25.43M$23.00M

JQUA

JPMorgan U.S. Quality Factor ETF
$26.79M$28.22M$36.46M

GARP vs. JQUA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
GARP
iShares MSCI USA Quality GARP ETF		16.89%21.49%37.42%42.86%-26.75%27.99%26.51%
JQUA
JPMorgan U.S. Quality Factor ETF		14.93%11.69%21.21%25.13%-13.45%28.68%14.18%

Correlation

The correlation between GARP and JQUA is 0.86, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.86

Correlation (3Y)
Balances recent behavior with more history.

0.86

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.90

Correlation (All Time)
Calculated using the full available price history since Jan 16, 2020

0.86

The correlation between GARP and JQUA has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.

GARP vs. JQUA - Sectors Allocation Comparison

Sectors
GARP
JQUA

Technology

54.7%
41.0%

Communication Services

11.0%
6.2%

Consumer Cyclical

9.1%
9.5%

Financial Services

7.9%
12.0%

Industrials

6.4%
8.9%

Healthcare

5.4%
8.8%

Energy

3.0%
3.3%

Utilities

1.3%
1.2%

Basic Materials

1.1%
1.7%

Real Estate

0.4%
2.2%

Consumer Defensive

-

5.2%

Technology

GARP
54.7%
JQUA
41.0%

Communication Services

GARP
11.0%
JQUA
6.2%

Consumer Cyclical

GARP
9.1%
JQUA
9.5%

Financial Services

GARP
7.9%
JQUA
12.0%

Industrials

GARP
6.4%
JQUA
8.9%

Healthcare

GARP
5.4%
JQUA
8.8%

Energy

GARP
3.0%
JQUA
3.3%

Utilities

GARP
1.3%
JQUA
1.2%

Basic Materials

GARP
1.1%
JQUA
1.7%

Real Estate

GARP
0.4%
JQUA
2.2%

Consumer Defensive

GARP

-

JQUA
5.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI USA Quality GARP ETF

JPMorgan U.S. Quality Factor ETF

Often compared with GARP:
GARP vs. SPGPGARP vs. SPMOGARP vs. SCHGGARP vs. QUALGARP vs. SPYGARP vs. VUGGARP vs. SPHQ
Often compared with JQUA:
JQUA vs. SPHQJQUA vs. VFQYJQUA vs. CGDVJQUA vs. SCHDJQUA vs. FQALJQUA vs. VIGJQUA vs. QUS

Return for Risk

GARP vs. JQUA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
GARP
GARP Risk / Return Rank: 6464
Overall Rank
GARP Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
GARP Sortino Ratio Rank: 6262
Sortino Ratio Rank
GARP Omega Ratio Rank: 6060
Omega Ratio Rank
GARP Calmar Ratio Rank: 6363
Calmar Ratio Rank
GARP Martin Ratio Rank: 6666
Martin Ratio Rank
JQUA
JQUA Risk / Return Rank: 7979
Overall Rank
JQUA Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
JQUA Sortino Ratio Rank: 7777
Sortino Ratio Rank
JQUA Omega Ratio Rank: 7373
Omega Ratio Rank
JQUA Calmar Ratio Rank: 8181
Calmar Ratio Rank
JQUA Martin Ratio Rank: 8686
Martin Ratio Rank
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.

GARP vs. JQUA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Quality GARP ETF (GARP) 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.

GARPJQUADifference
Sharpe ratioReturn per unit of total volatility
1.50
1.75

-0.24

Sortino ratioReturn per unit of downside risk
2.08
2.48

-0.40

Omega ratioGain probability vs. loss probability

1.26

1.30

-0.05

Calmar ratioReturn relative to maximum drawdown

2.19

2.95

-0.75

Martin ratioReturn relative to average drawdown

7.99

12.05

-4.06

GARP vs. JQUA - Sharpe Ratio Comparison

The current GARP Sharpe Ratio is 1.50, which is comparable to the JQUA Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of GARP 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.

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Drawdowns

GARP vs. JQUA - Drawdown Comparison

The maximum GARP drawdown since its inception was -31.34%, roughly equal to the maximum JQUA drawdown of -32.92%. Use the drawdown chart below to compare losses from any high point for GARP and JQUA.

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Drawdown Indicators

GARPJQUADifference

Max Drawdown

Largest peak-to-trough decline

-31.34%

-32.92%

+1.58%

Max Drawdown (1Y)

Largest decline over 1 year

-13.69%

-7.13%

-6.56%

Max Drawdown (3Y)

Largest decline over 3 years

-23.73%

-16.81%

-6.92%

Max Drawdown (5Y)

Largest decline over 5 years

-30.61%

-22.47%

-8.14%

Current Drawdown

Current decline from peak

-4.34%

-0.36%

-3.98%

Average Drawdown

Average peak-to-trough decline

-7.27%

-4.10%

-3.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.75%

1.74%

+2.01%

Volatility

GARP vs. JQUA - Volatility Comparison

iShares MSCI USA Quality GARP ETF (GARP) has a higher volatility of 5.68% compared to JPMorgan U.S. Quality Factor ETF (JQUA) at 2.34%. This indicates that GARP'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.

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Volatility by Period

GARPJQUADifference

Volatility (1M)

Calculated over the trailing 1-month period

5.68%

2.34%

+3.34%

Volatility (6M)

Calculated over the trailing 6-month period

16.18%

9.47%

+6.71%

Volatility (1Y)

Calculated over the trailing 1-year period

20.02%

12.04%

+7.98%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.34%

15.72%

+6.62%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.92%

17.93%

+5.99%

GARP vs. JQUA - Expense Ratio Comparison

GARP has a 0.15% 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

GARP vs. JQUA - Dividend Comparison

GARP's dividend yield for the trailing twelve months is around 0.27%, less than JQUA's 1.08% yield.

PositionTTM202520242023202220212020201920182017
GARP
iShares MSCI USA Quality GARP ETF		0.27%0.31%0.38%0.75%1.85%0.67%0.75%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

GARP and JQUA have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

GARP has higher volatility (5.68%) compared to JQUA (2.34%). In terms of maximum drawdown, GARP dropped -31.34% vs JQUA's -32.92%.

On 5-year performance, GARP leads with 17.48% vs 12.89% for JQUA. 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.

Over the 5-year period, GARP has performed better with a 17.48% return vs 12.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

JQUA is cheaper with a 0.12% expense ratio, compared with 0.15% for GARP.

JQUA has the higher dividend yield at 1.08%, compared with 0.27% for GARP.

GARP tracks MSCI USA Quality GARP Select Index, while JQUA tracks JP Morgan US Quality Factor Index. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.15% for GARP and 0.12% for JQUA.

JQUA currently has the higher Sharpe Ratio (1.75 vs 1.50), 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.

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