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INCO vs. JQUA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

INCO vs. JQUA

Last updated Jul 22, 2026
Documentation

INCO (Columbia India Consumer ETF) and JQUA (JPMorgan U.S. Quality Factor ETF) are both exchange-traded funds - INCO is a India Equities fund tracking the Indxx India Consumer 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, INCO returned 6.72%/yr vs 13.11%/yr for JQUA. At a 0.39 correlation, their price movements are largely independent. INCO charges 0.75%/yr vs 0.12%/yr for JQUA.

Performance

INCO vs. JQUA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia India Consumer ETF (INCO) 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, INCO achieves a -8.71% return, which is significantly lower than JQUA's 14.58% return.

INCO

1D
0.55%
1M
-1.11%
6M
-4.14%
YTD
-8.71%
1Y
-7.94%
3Y*
6.40%
5Y*
6.72%
10Y*
8.08%
ALL TIME*
9.20%

JQUA

1D
0.56%
1M
1.08%
6M
14.42%
YTD
14.58%
1Y
20.91%
3Y*
18.22%
5Y*
13.11%
10Y*
—
ALL TIME*
14.72%
*Multi-year figures are annualized to reflect compound growth (CAGR)

INCO vs. JQUA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
INCO
Columbia India Consumer ETF		-8.71%0.59%12.70%34.63%-7.01%19.28%14.55%-4.22%-10.81%7.77%
JQUA
JPMorgan U.S. Quality Factor ETF		14.58%11.69%21.21%25.13%-13.45%28.68%16.56%28.47%-2.98%5.07%

Correlation

The correlation between INCO and JQUA is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.31

Correlation (3Y)
Calculated over the trailing 3-year period

0.34

Correlation (5Y)
Calculated over the trailing 5-year period

0.41

Correlation (All Time)
Calculated using the full available price history since Nov 9, 2017

0.39

INCO vs. JQUA - Sectors Allocation Comparison

Sectors
INCO
JQUA

Consumer Cyclical

61.2%
9.5%

Consumer Defensive

36.0%
5.2%

Healthcare

2.0%
8.8%

Industrials

1.4%
8.9%

Technology

0.8%
41.0%

Basic Materials

-

1.7%

Communication Services

-

6.2%

Energy

-

3.3%

Financial Services

-

12.0%

Real Estate

-

2.2%

Utilities

-

1.2%

Consumer Cyclical

INCO
61.2%
JQUA
9.5%

Consumer Defensive

INCO
36.0%
JQUA
5.2%

Healthcare

INCO
2.0%
JQUA
8.8%

Industrials

INCO
1.4%
JQUA
8.9%

Technology

INCO
0.8%
JQUA
41.0%

Basic Materials

INCO

-

JQUA
1.7%

Communication Services

INCO

-

JQUA
6.2%

Energy

INCO

-

JQUA
3.3%

Financial Services

INCO

-

JQUA
12.0%

Real Estate

INCO

-

JQUA
2.2%

Utilities

INCO

-

JQUA
1.2%

Compare stocks, funds, or ETFs

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

Columbia India Consumer ETF

JPMorgan U.S. Quality Factor ETF

Often compared with INCO:
INCO vs. INDAINCO vs. INDYINCO vs. SMININCO vs. FLININCO vs. EPIINCO vs. GLININCO vs. INQQ
Often compared with JQUA:
JQUA vs. SPHQJQUA vs. VFQYJQUA vs. CGDVJQUA vs. SCHDJQUA vs. FQALJQUA vs. VIGJQUA vs. QUS

Return for Risk

INCO vs. JQUA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
INCO
INCO Risk / Return Rank: 66
Overall Rank
INCO Sharpe Ratio Rank: 66
Sharpe Ratio Rank
INCO Sortino Ratio Rank: 55
Sortino Ratio Rank
INCO Omega Ratio Rank: 55
Omega Ratio Rank
INCO Calmar Ratio Rank: 77
Calmar Ratio Rank
INCO Martin Ratio Rank: 66
Martin Ratio Rank
JQUA
JQUA Risk / Return Rank: 7575
Overall Rank
JQUA Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
JQUA Sortino Ratio Rank: 7373
Sortino Ratio Rank
JQUA Omega Ratio Rank: 6969
Omega Ratio Rank
JQUA Calmar Ratio Rank: 7777
Calmar Ratio Rank
JQUA Martin Ratio Rank: 8383
Martin Ratio Rank
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.

INCO vs. JQUA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia India Consumer ETF (INCO) 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.

INCOJQUADifference
Sharpe ratioReturn per unit of total volatility
-0.47
1.75

-2.22

Sortino ratioReturn per unit of downside risk
-0.58
2.48

-3.06

Omega ratioGain probability vs. loss probability

0.94

1.30

-0.37

Calmar ratioReturn relative to maximum drawdown

-0.37

2.95

-3.32

Martin ratioReturn relative to average drawdown

-0.84

12.01

-12.85

INCO vs. JQUA - Sharpe Ratio Comparison

The current INCO Sharpe Ratio is -0.47, which is lower than the JQUA Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of INCO 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

INCO vs. JQUA - Drawdown Comparison

The maximum INCO drawdown since its inception was -47.69%, which is greater than JQUA's maximum drawdown of -32.92%. Use the drawdown chart below to compare losses from any high point for INCO and JQUA.

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Drawdown Indicators

INCOJQUADifference

Max Drawdown

Largest peak-to-trough decline

-47.69%

-32.92%

-14.77%

Max Drawdown (1Y)

Largest decline over 1 year

-21.37%

-7.13%

-14.24%

Max Drawdown (3Y)

Largest decline over 3 years

-29.98%

-16.81%

-13.17%

Max Drawdown (5Y)

Largest decline over 5 years

-29.98%

-22.47%

-7.51%

Max Drawdown (10Y)

Largest decline over 10 years

-47.69%

—

—

Current Drawdown

Current decline from peak

-22.25%

-0.66%

-21.59%

Average Drawdown

Average peak-to-trough decline

-10.67%

-4.12%

-6.55%

Ulcer Index

Depth and duration of drawdowns from previous peaks

9.47%

1.75%

+7.72%

Volatility

INCO vs. JQUA - Volatility Comparison

Columbia India Consumer ETF (INCO) and JPMorgan U.S. Quality Factor ETF (JQUA) have volatilities of 3.35% and 3.26%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

INCOJQUADifference

Volatility (1M)

Calculated over the trailing 1-month period

3.35%

3.26%

+0.09%

Volatility (6M)

Calculated over the trailing 6-month period

14.42%

9.59%

+4.83%

Volatility (1Y)

Calculated over the trailing 1-year period

17.08%

12.01%

+5.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.98%

15.73%

+1.25%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.29%

17.95%

+2.34%

INCO vs. JQUA - Expense Ratio Comparison

INCO has a 0.75% expense ratio, which is higher than JQUA's 0.12% expense ratio.

Dividends

INCO vs. JQUA - Dividend Comparison

INCO has not paid dividends to shareholders, while JQUA's dividend yield for the trailing twelve months is around 1.09%.

PositionTTM2025202420232022202120202019201820172016
INCO
Columbia India Consumer ETF		0.00%0.00%2.88%3.81%10.57%6.25%0.34%0.28%0.12%0.05%0.09%
JQUA
JPMorgan U.S. Quality Factor ETF		1.09%1.19%1.24%1.21%1.60%1.32%1.44%1.67%2.10%0.40%0.00%

Frequently Asked Questions

INCO and JQUA have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

INCO has higher volatility (3.35%) compared to JQUA (3.26%). In terms of maximum drawdown, INCO dropped -47.69% vs JQUA's -32.92%.

On 5-year performance, JQUA leads with 13.11% vs 6.72% for INCO. On fees, JQUA is cheaper at 0.12% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, JQUA has performed better with a 13.11% return vs 6.72%. 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 0.75% for INCO.

JQUA has the higher dividend yield at 1.09%, compared with 0.00% for INCO.

INCO is categorized as India Equities, while JQUA is Large Cap Blend Equities. INCO tracks Indxx India Consumer Index, while JQUA tracks JP Morgan US Quality Factor Index. They also come from different issuers: Ameriprise Financial and JPMorgan. Their fees differ too: 0.75% for INCO and 0.12% for JQUA.

JQUA currently has the higher Sharpe Ratio (1.75 vs -0.47), 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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