JMEE vs. JQUA

Last updated Jul 14, 2026

JMEE (JPMorgan Small & Mid Cap Enhanced Equity ETF) and JQUA (JPMorgan U.S. Quality Factor ETF) are both exchange-traded funds - JMEE is a Small Cap Blend Equities fund actively managed by JPMorgan, while JQUA is a Large Cap Blend Equities fund tracking the JP Morgan US Quality Factor Index. JMEE is actively managed, while JQUA is passively managed. Over the past 3 years, JMEE returned 15.34%/yr vs 18.70%/yr for JQUA. Their correlation of 0.86 suggests significant overlap in exposure. JMEE charges 0.24%/yr vs 0.12%/yr for JQUA.

Performance

JMEE vs. JQUA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Small & Mid Cap Enhanced Equity ETF (JMEE) 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, JMEE achieves a 18.14% return, which is significantly higher than JQUA's 14.82% return.

JMEE

• 1D: -0.46%
• 1M: -0.52%
• 6M: 12.63%
• YTD: 18.14%
• 1Y: 26.67%
• 3Y*: 15.34%
• 5Y*: —
• 10Y*: —

JQUA

• 1D: -0.46%
• 1M: 1.89%
• 6M: 12.32%
• YTD: 14.82%
• 1Y: 21.62%
• 3Y*: 18.70%
• 5Y*: 13.24%
• 10Y*: —

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

JMEE vs. JQUA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JMEE JPMorgan Small & Mid Cap Enhanced Equity ETF	18.14%	7.65%	13.65%	18.12%	0.09%
JQUA JPMorgan U.S. Quality Factor ETF	14.82%	11.69%	21.21%	25.13%	-0.81%

Correlation

The correlation between JMEE and JQUA is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (All Time) Calculated using the full available price history since May 9, 2022	0.86

The correlation between JMEE and JQUA has been stable across timeframes, ranging from 0.83 to 0.86 - a consistent structural relationship.

JMEE vs. JQUA - Sectors Allocation Comparison

Sectors	JMEE	JQUA
Industrials	20.9%	8.3%
Technology	18.3%	39.6%
Financial Services	15.3%	12.3%
Consumer Cyclical	11.9%	9.5%
Healthcare	8.9%	8.7%
Real Estate	7.6%	2.2%
Energy	5.0%	3.3%
Basic Materials	4.7%	1.8%
Consumer Defensive	3.6%	5.4%
Utilities	2.1%	2.2%
Communication Services	1.7%	5.3%

Return for Risk

JMEE vs. JQUA — Risk / Return Rank

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

JMEE

JMEE Risk / Return Rank: 69
JMEE Sharpe Ratio Rank: 63
JMEE Sortino Ratio Rank: 67
JMEE Omega Ratio Rank: 60
JMEE Calmar Ratio Rank: 79
JMEE Martin Ratio Rank: 76

JQUA

JQUA Risk / Return Rank: 73
JQUA Sharpe Ratio Rank: 71
JQUA Sortino Ratio Rank: 70
JQUA Omega Ratio Rank: 66
JQUA Calmar Ratio Rank: 75
JQUA Martin Ratio Rank: 81

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.

JMEE vs. JQUA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Small & Mid Cap Enhanced Equity ETF (JMEE) 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.

	JMEE	JQUA	Difference
Sharpe ratio: Return per unit of total volatility	1.66	1.81	-0.15
Sortino ratio: Return per unit of downside risk	2.44	2.55	-0.11
Omega ratio: Gain probability vs. loss probability	1.29	1.31	-0.02
Calmar ratio: Return relative to maximum drawdown	3.25	3.05	+0.20
Martin ratio: Return relative to average drawdown	11.32	12.44	-1.12

JMEE vs. JQUA - Sharpe Ratio Comparison

The current JMEE Sharpe Ratio is 1.66, which is comparable to the JQUA Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of JMEE 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

JMEE vs. JQUA - Drawdown Comparison

The maximum JMEE drawdown since its inception was -25.40%, smaller than the maximum JQUA drawdown of -32.92%. Use the drawdown chart below to compare losses from any high point for JMEE and JQUA.

Drawdown Indicators

	JMEE	JQUA	Difference
Max Drawdown Largest peak-to-trough decline	-25.40%	-32.92%	+7.52%
Max Drawdown (1Y) Largest decline over 1 year	-8.24%	-7.13%	-1.11%
Max Drawdown (3Y) Largest decline over 3 years	-25.40%	-16.81%	-8.59%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.47%	—
Current Drawdown Current decline from peak	-2.52%	-0.46%	-2.06%
Average Drawdown Average peak-to-trough decline	-5.28%	-4.13%	-1.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.36%	1.74%	+0.62%

Volatility

JMEE vs. JQUA - Volatility Comparison

JPMorgan Small & Mid Cap Enhanced Equity ETF (JMEE) and JPMorgan U.S. Quality Factor ETF (JQUA) have volatilities of 4.37% and 4.37%, 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.

Volatility by Period

	JMEE	JQUA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.37%	4.37%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	11.62%	9.57%	+2.05%
Volatility (1Y) Calculated over the trailing 1-year period	16.19%	12.05%	+4.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.41%	15.75%	+3.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.41%	17.97%	+1.44%

JMEE vs. JQUA - Expense Ratio Comparison

JMEE 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

JMEE vs. JQUA - Dividend Comparison

JMEE's dividend yield for the trailing twelve months is around 0.95%, less than JQUA's 1.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JMEE JPMorgan Small & Mid Cap Enhanced Equity ETF	0.95%	1.13%	0.95%	1.25%	6.63%	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 JMEE and JQUA in my portfolio?

JMEE and JQUA have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JMEE or JQUA?

JQUA has higher volatility (4.37%) compared to JMEE (4.37%). In terms of maximum drawdown, JMEE dropped -25.40% vs JQUA's -32.92%.

Which ETF is better, JMEE or JQUA?

On 3-year performance, JQUA leads with 18.70% vs 15.34% for JMEE. 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.

Which ETF has performed better, JMEE or JQUA?

Over the 3-year period, JQUA has performed better with a 18.70% return vs 15.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JMEE or JQUA?

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

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

JQUA has the higher dividend yield at 1.08%, compared with 0.95% for JMEE.

What is the main difference between JMEE and JQUA?

JMEE is categorized as Small Cap Blend Equities, while JQUA is Large Cap Blend Equities. Their fees differ too: 0.24% for JMEE and 0.12% for JQUA.

Which has better risk-adjusted returns?

JQUA currently has the higher Sharpe Ratio (1.81 vs 1.66), 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.