JMTG vs. JQUA

Last updated Jul 8, 2026

JMTG (JPMorgan Mortgage-Backed Securities ETF) and JQUA (JPMorgan U.S. Quality Factor ETF) are both exchange-traded funds - JMTG is a Mortgage Backed Securities fund actively managed by JPMorgan, while JQUA is a Large Cap Blend Equities fund tracking the JP Morgan US Quality Factor Index. JMTG is actively managed, while JQUA is passively managed. Over the past year, JMTG returned 5.25% vs 20.49% for JQUA. At a 0.37 correlation, their price movements are largely independent. JMTG charges 0.24%/yr vs 0.12%/yr for JQUA.

Performance

JMTG vs. JQUA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Mortgage-Backed Securities ETF (JMTG) 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, JMTG achieves a 0.66% return, which is significantly lower than JQUA's 14.50% return.

JMTG

• 1D: -0.46%
• 1M: 0.57%
• 6M: 0.62%
• YTD: 0.66%
• 1Y: 5.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JQUA

• 1D: -0.46%
• 1M: 3.22%
• 6M: 12.49%
• YTD: 14.50%
• 1Y: 20.49%
• 3Y*: 19.66%
• 5Y*: 13.38%
• 10Y*: —

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

JMTG vs. JQUA - Yearly Performance Comparison

	2026 (YTD)	2025
JMTG JPMorgan Mortgage-Backed Securities ETF	0.66%	3.94%
JQUA JPMorgan U.S. Quality Factor ETF	14.50%	6.58%

Correlation

The correlation between JMTG and JQUA is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (All Time) Calculated using the full available price history since Jun 30, 2025	0.37

Return for Risk

JMTG vs. JQUA — Risk / Return Rank

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

JMTG

JMTG Risk / Return Rank: 46
JMTG Sharpe Ratio Rank: 49
JMTG Sortino Ratio Rank: 51
JMTG Omega Ratio Rank: 48
JMTG Calmar Ratio Rank: 44
JMTG Martin Ratio Rank: 40

JQUA

JQUA Risk / Return Rank: 65
JQUA Sharpe Ratio Rank: 62
JQUA Sortino Ratio Rank: 62
JQUA Omega Ratio Rank: 58
JQUA Calmar Ratio Rank: 70
JQUA Martin Ratio Rank: 76

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.

JMTG vs. JQUA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Mortgage-Backed Securities ETF (JMTG) 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.

	JMTG	JQUA	Difference
Sharpe ratio: Return per unit of total volatility	1.43	1.71	-0.28
Sortino ratio: Return per unit of downside risk	2.13	2.42	-0.30
Omega ratio: Gain probability vs. loss probability	1.26	1.30	-0.04
Calmar ratio: Return relative to maximum drawdown	1.90	2.89	-0.99
Martin ratio: Return relative to average drawdown	5.34	11.73	-6.39

JMTG vs. JQUA - Sharpe Ratio Comparison

The current JMTG Sharpe Ratio is 1.43, which is comparable to the JQUA Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of JMTG 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

JMTG vs. JQUA - Drawdown Comparison

The maximum JMTG drawdown since its inception was -2.78%, smaller than the maximum JQUA drawdown of -32.92%. Use the drawdown chart below to compare losses from any high point for JMTG and JQUA.

Drawdown Indicators

	JMTG	JQUA	Difference
Max Drawdown Largest peak-to-trough decline	-2.78%	-32.92%	+30.14%
Max Drawdown (1Y) Largest decline over 1 year	-2.78%	-7.13%	+4.35%
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	-1.59%	-0.46%	-1.13%
Average Drawdown Average peak-to-trough decline	-0.73%	-4.13%	+3.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	1.75%	-0.76%

Volatility

JMTG vs. JQUA - Volatility Comparison

The current volatility for JPMorgan Mortgage-Backed Securities ETF (JMTG) is 1.25%, while JPMorgan U.S. Quality Factor ETF (JQUA) has a volatility of 5.39%. This indicates that JMTG 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

	JMTG	JQUA	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.25%	5.39%	-4.14%
Volatility (6M) Calculated over the trailing 6-month period	2.88%	9.57%	-6.69%
Volatility (1Y) Calculated over the trailing 1-year period	3.68%	12.03%	-8.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.71%	15.75%	-12.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.71%	17.98%	-14.27%

JMTG vs. JQUA - Expense Ratio Comparison

JMTG 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

JMTG vs. JQUA - Dividend Comparison

JMTG's dividend yield for the trailing twelve months is around 4.31%, more than JQUA's 1.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JMTG JPMorgan Mortgage-Backed Securities ETF	4.31%	2.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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%

Frequently Asked Questions

Can I hold both JMTG and JQUA in my portfolio?

JMTG and JQUA have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JMTG or JQUA?

JQUA has higher volatility (5.39%) compared to JMTG (1.25%). In terms of maximum drawdown, JMTG dropped -2.78% vs JQUA's -32.92%.

Which ETF is better, JMTG or JQUA?

On 1-year performance, JQUA leads with 20.49% vs 5.25% for JMTG. On fees, JQUA is cheaper at 0.12% per year. On volatility, JMTG has been the lower-risk option at 1.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JMTG or JQUA?

Over the 1-year period, JQUA has performed better with a 20.49% return vs 5.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JMTG or JQUA?

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

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

JMTG has the higher dividend yield at 4.31%, compared with 1.09% for JQUA.

What is the main difference between JMTG and JQUA?

JMTG is categorized as Mortgage Backed Securities, while JQUA is Large Cap Blend Equities. Their fees differ too: 0.24% for JMTG and 0.12% for JQUA.

Which has better risk-adjusted returns?

JQUA currently has the higher Sharpe Ratio (1.71 vs 1.43), 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.