JOET vs. USPX

Last updated Apr 1, 2026

Compare and contrast key facts about Virtus Terranova U.S. Quality Momentum ETF (JOET) and Franklin U.S. Equity Index ETF (USPX).

JOET and USPX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JOET is a passively managed fund by Virtus Investment Partners that tracks the performance of the Terranova U.S. Quality Momentum Index. It was launched on Nov 17, 2020. USPX is a passively managed fund by Franklin Templeton that tracks the performance of the Morningstar US Target Market Exposure Index. It was launched on Jun 1, 2016. Both JOET and USPX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

JOET vs. USPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Terranova U.S. Quality Momentum ETF (JOET) and Franklin U.S. Equity Index ETF (USPX). The values are adjusted to include any dividend payments, if applicable.

JOET vs. USPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
JOET Virtus Terranova U.S. Quality Momentum ETF	-4.69%	11.89%	24.01%	16.34%	-18.04%	26.79%	6.00%
USPX Franklin U.S. Equity Index ETF	-4.61%	17.78%	24.97%	27.07%	-18.88%	19.53%	5.13%

Returns By Period

The year-to-date returns for both investments are quite close, with JOET having a -4.69% return and USPX slightly higher at -4.61%.

JOET

• 1D: 2.77%
• 1M: -6.32%
• YTD: -4.69%
• 6M: -6.33%
• 1Y: 10.17%
• 3Y*: 14.33%
• 5Y*: 9.16%
• 10Y*: —

USPX

• 1D: 2.97%
• 1M: -4.14%
• YTD: -4.61%
• 6M: -2.31%
• 1Y: 17.50%
• 3Y*: 18.33%
• 5Y*: 10.30%
• 10Y*: —

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

JOET vs. USPX - Expense Ratio Comparison

JOET has a 0.29% expense ratio, which is higher than USPX's 0.03% expense ratio.

JOET

Virtus Terranova U.S. Quality Momentum ETF

USPX

Franklin U.S. Equity Index ETF

Return for Risk

JOET vs. USPX — Risk / Return Rank

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

JOET

JOET Risk / Return Rank: 35
JOET Sharpe Ratio Rank: 31
JOET Sortino Ratio Rank: 32
JOET Omega Ratio Rank: 32
JOET Calmar Ratio Rank: 38
JOET Martin Ratio Rank: 40

USPX

USPX Risk / Return Rank: 59
USPX Sharpe Ratio Rank: 53
USPX Sortino Ratio Rank: 57
USPX Omega Ratio Rank: 60
USPX Calmar Ratio Rank: 58
USPX Martin Ratio Rank: 69

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.

JOET vs. USPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Terranova U.S. Quality Momentum ETF (JOET) and Franklin U.S. Equity Index ETF (USPX). 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.

	JOET	USPX	Difference
Sharpe ratio Return per unit of total volatility	0.54	0.94	-0.40
Sortino ratio Return per unit of downside risk	0.89	1.46	-0.57
Omega ratio Gain probability vs. loss probability	1.13	1.22	-0.09
Calmar ratio Return relative to maximum drawdown	0.91	1.46	-0.56
Martin ratio Return relative to average drawdown	3.54	7.02	-3.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JOET vs. USPX - Sharpe Ratio Comparison

The current JOET Sharpe Ratio is 0.54, which is lower than the USPX Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of JOET and USPX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	JOET	USPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.54	0.94	-0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.64	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.71	-0.12

Correlation

The correlation between JOET and USPX is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

JOET vs. USPX - Dividend Comparison

JOET's dividend yield for the trailing twelve months is around 0.69%, less than USPX's 1.20% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
JOET Virtus Terranova U.S. Quality Momentum ETF	0.69%	0.65%	0.71%	1.32%	1.25%	0.42%	0.08%	0.00%	0.00%	0.00%	0.00%
USPX Franklin U.S. Equity Index ETF	1.20%	1.07%	1.23%	1.35%	2.21%	2.40%	2.51%	3.07%	2.91%	2.60%	4.89%

Drawdowns

JOET vs. USPX - Drawdown Comparison

The maximum JOET drawdown since its inception was -26.58%, smaller than the maximum USPX drawdown of -31.21%. Use the drawdown chart below to compare losses from any high point for JOET and USPX.

Drawdown Indicators

	JOET	USPX	Difference
Max Drawdown Largest peak-to-trough decline	-26.58%	-31.21%	+4.63%
Max Drawdown (1Y) Largest decline over 1 year	-11.87%	-12.48%	+0.61%
Max Drawdown (5Y) Largest decline over 5 years	-26.58%	-24.60%	-1.98%
Current Drawdown Current decline from peak	-7.93%	-6.45%	-1.48%
Average Drawdown Average peak-to-trough decline	-7.36%	-4.51%	-2.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	2.60%	+0.44%

Volatility

JOET vs. USPX - Volatility Comparison

Virtus Terranova U.S. Quality Momentum ETF (JOET) and Franklin U.S. Equity Index ETF (USPX) have volatilities of 5.59% and 5.35%, 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

	JOET	USPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.59%	5.35%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	10.37%	9.71%	+0.66%
Volatility (1Y) Calculated over the trailing 1-year period	18.86%	18.75%	+0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.69%	16.15%	+1.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.63%	15.98%	+1.65%