JMSI vs. JQUA

Last updated Jun 5, 2026

JMSI (J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund) and JQUA (JPMorgan U.S. Quality Factor ETF) are both exchange-traded funds - JMSI is a Municipal Bonds fund actively managed by JPMorgan, while JQUA is a Large Cap Growth Equities fund tracking the JP Morgan US Quality Factor Index. JMSI is actively managed, while JQUA is passively managed. Over the past year, JMSI returned 6.11% vs 22.69% for JQUA. At a 0.20 correlation, their price movements are largely independent. JMSI charges 0.18%/yr vs 0.12%/yr for JQUA.

Performance

JMSI vs. JQUA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund (JMSI) 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, JMSI achieves a 1.25% return, which is significantly lower than JQUA's 14.16% return.

JMSI

• 1D: 0.19%
• 1M: 0.67%
• YTD: 1.25%
• 6M: 1.62%
• 1Y: 6.11%
• 3Y*: —
• 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)

JMSI vs. JQUA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JMSI J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund	1.25%	4.40%	2.77%	2.70%
JQUA JPMorgan U.S. Quality Factor ETF	14.16%	11.69%	21.21%	6.96%

Correlation

The correlation between JMSI and JQUA is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (All Time) Calculated using the full available price history since Jul 18, 2023	0.20

JMSI vs. JQUA - Sectors Allocation Comparison

Sectors	JMSI	JQUA
Technology	36.9%	41.9%
Financial Services	11.7%	10.2%
Communication Services	10.4%	5.5%
Healthcare	9.8%	7.2%
Consumer Cyclical	9.5%	9.2%
Industrials	7.2%	7.6%
Consumer Defensive	4.7%	5.3%
Energy	3.9%	3.2%
Utilities	2.4%	2.3%
Basic Materials	1.8%	0.8%
Real Estate	1.8%	2.1%

Return for Risk

JMSI vs. JQUA — Risk / Return Rank

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

JMSI

JMSI Risk / Return Rank: 59
JMSI Sharpe Ratio Rank: 64
JMSI Sortino Ratio Rank: 69
JMSI Omega Ratio Rank: 74
JMSI Calmar Ratio Rank: 42
JMSI Martin Ratio Rank: 45

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.

JMSI vs. JQUA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund (JMSI) 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.

	JMSI	JQUA	Difference
Sharpe ratio: Return per unit of total volatility	2.11	2.03	+0.07
Sortino ratio: Return per unit of downside risk	3.10	2.91	+0.19
Omega ratio: Gain probability vs. loss probability	1.43	1.35	+0.08
Calmar ratio: Return relative to maximum drawdown	2.06	3.20	-1.14
Martin ratio: Return relative to average drawdown	7.09	13.48	-6.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JMSI vs. JQUA - Sharpe Ratio Comparison

The current JMSI Sharpe Ratio is 2.11, which is comparable to the JQUA Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of JMSI 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

	JMSI	JQUA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.11	2.03	+0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.90	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.04	0.83	+0.21

Drawdowns

JMSI vs. JQUA - Drawdown Comparison

The maximum JMSI drawdown since its inception was -4.57%, smaller than the maximum JQUA drawdown of -32.92%. Use the drawdown chart below to compare losses from any high point for JMSI and JQUA.

Drawdown Indicators

	JMSI	JQUA	Difference
Max Drawdown Largest peak-to-trough decline	-4.57%	-32.92%	+28.35%
Max Drawdown (1Y) Largest decline over 1 year	-2.98%	-7.13%	+4.15%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.81%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.47%	—
Current Drawdown Current decline from peak	-0.68%	-0.28%	-0.40%
Average Drawdown Average peak-to-trough decline	-0.92%	-4.16%	+3.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	1.69%	-0.83%

Volatility

JMSI vs. JQUA - Volatility Comparison

The current volatility for J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund (JMSI) is 0.97%, while JPMorgan U.S. Quality Factor ETF (JQUA) has a volatility of 2.82%. This indicates that JMSI 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

	JMSI	JQUA	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.97%	2.82%	-1.85%
Volatility (6M) Calculated over the trailing 6-month period	2.21%	8.31%	-6.10%
Volatility (1Y) Calculated over the trailing 1-year period	2.92%	11.20%	-8.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.73%	15.61%	-11.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.73%	17.99%	-14.26%

JMSI vs. JQUA - Expense Ratio Comparison

JMSI has a 0.18% 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

JMSI vs. JQUA - Dividend Comparison

JMSI's dividend yield for the trailing twelve months is around 3.64%, more than JQUA's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JMSI J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund	3.64%	3.65%	3.66%	1.79%	0.00%	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 JMSI and JQUA in my portfolio?

JMSI and JQUA have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JMSI or JQUA?

JQUA has higher volatility (2.82%) compared to JMSI (0.97%). In terms of maximum drawdown, JMSI dropped -4.57% vs JQUA's -32.92%.

Which ETF is better, JMSI or JQUA?

On 1-year performance, JQUA leads with 22.69% vs 6.11% for JMSI. On fees, JQUA is cheaper at 0.12% per year. On volatility, JMSI has been the lower-risk option at 0.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JMSI or JQUA?

Over the 1-year period, JQUA has performed better with a 22.69% return vs 6.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JMSI or JQUA?

JQUA is cheaper with a 0.12% expense ratio, compared with 0.18% for JMSI.

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

JMSI has the higher dividend yield at 3.64%, compared with 1.07% for JQUA.

What is the main difference between JMSI and JQUA?

JMSI is categorized as Municipal Bonds, while JQUA is Large Cap Growth Equities. Their fees differ too: 0.18% for JMSI and 0.12% for JQUA.

Which has better risk-adjusted returns?

JMSI currently has the higher Sharpe Ratio (2.11 vs 2.03), 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.