JIRE vs. JQUA

Last updated Jun 5, 2026

JIRE (JPMorgan International Research Enhanced Equity ETF) and JQUA (JPMorgan U.S. Quality Factor ETF) are both exchange-traded funds - JIRE is a Foreign Large Cap Equities fund actively managed by JPMorgan, while JQUA is a Large Cap Growth Equities fund tracking the JP Morgan US Quality Factor Index. JIRE is actively managed, while JQUA is passively managed. Over the past 3 years, JIRE returned 16.65%/yr vs 20.64%/yr for JQUA. A 0.73 correlation means they provide meaningful diversification when combined. JIRE charges 0.24%/yr vs 0.12%/yr for JQUA.

Performance

JIRE vs. JQUA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan International Research Enhanced Equity ETF (JIRE) 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, JIRE achieves a 8.68% return, which is significantly lower than JQUA's 14.16% return.

JIRE

• 1D: 0.89%
• 1M: 2.64%
• YTD: 8.68%
• 6M: 10.86%
• 1Y: 20.36%
• 3Y*: 16.65%
• 5Y*: —
• 10Y*: —

JQUA

• 1D: -0.11%
• 1M: 7.20%
• YTD: 14.16%
• 6M: 14.37%
• 1Y: 22.69%
• 3Y*: 20.64%
• 5Y*: 13.92%
• 10Y*: —

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

JIRE vs. JQUA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JIRE JPMorgan International Research Enhanced Equity ETF	8.68%	31.83%	3.15%	20.00%	5.73%
JQUA JPMorgan U.S. Quality Factor ETF	14.16%	11.69%	21.21%	25.13%	6.53%

Correlation

The correlation between JIRE and JQUA is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (All Time) Calculated using the full available price history since Jun 14, 2022	0.73

The correlation between JIRE and JQUA has been stable across timeframes, ranging from 0.69 to 0.73 - a consistent structural relationship.

JIRE vs. JQUA - Sectors Allocation Comparison

Sectors	JIRE	JQUA
Financial Services	25.9%	10.2%
Industrials	18.8%	7.6%
Technology	11.3%	41.9%
Healthcare	10.4%	7.2%
Consumer Cyclical	8.0%	9.2%
Consumer Defensive	6.8%	5.3%
Basic Materials	5.3%	0.8%
Utilities	4.7%	2.3%
Communication Services	4.1%	5.5%
Energy	3.7%	3.2%
Real Estate	1.2%	2.1%

Return for Risk

JIRE vs. JQUA — Risk / Return Rank

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

JIRE

JIRE Risk / Return Rank: 38
JIRE Sharpe Ratio Rank: 37
JIRE Sortino Ratio Rank: 37
JIRE Omega Ratio Rank: 37
JIRE Calmar Ratio Rank: 36
JIRE Martin Ratio Rank: 40

JQUA

JQUA Risk / Return Rank: 64
JQUA Sharpe Ratio Rank: 62
JQUA Sortino Ratio Rank: 64
JQUA Omega Ratio Rank: 58
JQUA Calmar Ratio Rank: 65
JQUA Martin Ratio Rank: 73

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.

JIRE vs. JQUA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan International Research Enhanced Equity ETF (JIRE) 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.

	JIRE	JQUA	Difference
Sharpe ratio: Return per unit of total volatility	1.32	2.03	-0.72
Sortino ratio: Return per unit of downside risk	1.91	2.91	-1.01
Omega ratio: Gain probability vs. loss probability	1.24	1.35	-0.11
Calmar ratio: Return relative to maximum drawdown	1.74	3.20	-1.46
Martin ratio: Return relative to average drawdown	6.31	13.48	-7.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JIRE vs. JQUA - Sharpe Ratio Comparison

The current JIRE Sharpe Ratio is 1.32, which is lower than the JQUA Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of JIRE 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.

Sharpe Ratios by Period

	JIRE	JQUA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.32	2.03	-0.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.90	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.06	0.83	+0.23

Drawdowns

JIRE vs. JQUA - Drawdown Comparison

The maximum JIRE drawdown since its inception was -16.11%, smaller than the maximum JQUA drawdown of -32.92%. Use the drawdown chart below to compare losses from any high point for JIRE and JQUA.

Drawdown Indicators

	JIRE	JQUA	Difference
Max Drawdown Largest peak-to-trough decline	-16.11%	-32.92%	+16.81%
Max Drawdown (1Y) Largest decline over 1 year	-11.77%	-7.13%	-4.64%
Max Drawdown (3Y) Largest decline over 3 years	-13.61%	-16.81%	+3.20%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.47%	—
Current Drawdown Current decline from peak	-1.66%	-0.28%	-1.38%
Average Drawdown Average peak-to-trough decline	-3.03%	-4.16%	+1.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	1.69%	+1.55%

Volatility

JIRE vs. JQUA - Volatility Comparison

JPMorgan International Research Enhanced Equity ETF (JIRE) has a higher volatility of 4.99% compared to JPMorgan U.S. Quality Factor ETF (JQUA) at 2.82%. This indicates that JIRE'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

	JIRE	JQUA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.99%	2.82%	+2.17%
Volatility (6M) Calculated over the trailing 6-month period	12.82%	8.31%	+4.51%
Volatility (1Y) Calculated over the trailing 1-year period	15.55%	11.20%	+4.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.28%	15.61%	+0.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.28%	17.99%	-1.71%

JIRE vs. JQUA - Expense Ratio Comparison

JIRE has a 0.24% 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

JIRE vs. JQUA - Dividend Comparison

JIRE's dividend yield for the trailing twelve months is around 2.75%, more than JQUA's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JIRE JPMorgan International Research Enhanced Equity ETF	2.75%	2.99%	3.03%	2.74%	2.62%	0.00%	0.00%	0.00%	0.00%	0.00%
JQUA JPMorgan U.S. Quality Factor ETF	1.07%	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 JIRE and JQUA in my portfolio?

JIRE and JQUA have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JIRE or JQUA?

JIRE has higher volatility (4.99%) compared to JQUA (2.82%). In terms of maximum drawdown, JIRE dropped -16.11% vs JQUA's -32.92%.

Which ETF is better, JIRE or JQUA?

On 3-year performance, JQUA leads with 20.64% vs 16.65% for JIRE. On fees, JQUA is cheaper at 0.12% per year. On volatility, JQUA has been the lower-risk option at 2.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JIRE or JQUA?

Over the 3-year period, JQUA has performed better with a 20.64% return vs 16.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JIRE or JQUA?

JQUA is cheaper with a 0.12% expense ratio, compared with 0.24% for JIRE.

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

JIRE has the higher dividend yield at 2.75%, compared with 1.07% for JQUA.

What is the main difference between JIRE and JQUA?

JIRE is categorized as Foreign Large Cap Equities, while JQUA is Large Cap Growth Equities. Their fees differ too: 0.24% for JIRE and 0.12% for JQUA.

Which has better risk-adjusted returns?

JQUA currently has the higher Sharpe Ratio (2.03 vs 1.32), 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.