JPEF vs. JQUA

Last updated Jun 4, 2026

JPEF (JPMorgan Equity Focus ETF) and JQUA (JPMorgan U.S. Quality Factor ETF) are both exchange-traded funds - JPEF is a Large Cap Blend Equities fund actively managed by JPMorgan, while JQUA is a Large Cap Growth Equities fund tracking the JP Morgan US Quality Factor Index. JPEF is actively managed, while JQUA is passively managed. Over the past year, JPEF returned 19.43% vs 22.93% for JQUA. Their correlation of 0.90 suggests significant overlap in exposure. JPEF charges 0.50%/yr vs 0.12%/yr for JQUA.

Performance

JPEF vs. JQUA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Focus ETF (JPEF) 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, JPEF achieves a 7.80% return, which is significantly lower than JQUA's 14.28% return.

JPEF

• 1D: -0.61%
• 1M: 3.38%
• YTD: 7.80%
• 6M: 7.01%
• 1Y: 19.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JQUA

• 1D: -0.17%
• 1M: 8.34%
• YTD: 14.28%
• 6M: 14.37%
• 1Y: 22.93%
• 3Y*: 20.58%
• 5Y*: 13.95%
• 10Y*: —

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

JPEF vs. JQUA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JPEF JPMorgan Equity Focus ETF	7.80%	12.07%	28.19%	5.72%
JQUA JPMorgan U.S. Quality Factor ETF	14.28%	11.69%	21.21%	5.64%

Correlation

The correlation between JPEF 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 (All Time) Calculated using the full available price history since Aug 1, 2023	0.90

The correlation between JPEF and JQUA has been stable across timeframes, ranging from 0.83 to 0.90 - a consistent structural relationship.

JPEF vs. JQUA - Sectors Allocation Comparison

Sectors	JPEF	JQUA
Technology	29.0%	41.9%
Financial Services	14.0%	10.2%
Communication Services	12.1%	5.5%
Consumer Cyclical	11.8%	9.2%
Industrials	9.3%	7.6%
Healthcare	8.7%	7.2%
Energy	5.2%	3.2%
Utilities	2.9%	2.3%
Real Estate	2.6%	2.1%
Basic Materials	2.2%	0.8%
Consumer Defensive	2.0%	5.3%

Return for Risk

JPEF vs. JQUA — Risk / Return Rank

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

JPEF

JPEF Risk / Return Rank: 51
JPEF Sharpe Ratio Rank: 49
JPEF Sortino Ratio Rank: 49
JPEF Omega Ratio Rank: 50
JPEF Calmar Ratio Rank: 48
JPEF Martin Ratio Rank: 60

JQUA

JQUA Risk / Return Rank: 63
JQUA Sharpe Ratio Rank: 60
JQUA Sortino Ratio Rank: 61
JQUA Omega Ratio Rank: 56
JQUA Calmar Ratio Rank: 64
JQUA Martin Ratio Rank: 71

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.

JPEF vs. JQUA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Focus ETF (JPEF) 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.

	JPEF	JQUA	Difference
Sharpe ratio Return per unit of total volatility	1.72	2.06	-0.34
Sortino ratio Return per unit of downside risk	2.43	2.94	-0.51
Omega ratio Gain probability vs. loss probability	1.32	1.35	-0.04
Calmar ratio Return relative to maximum drawdown	2.36	3.23	-0.87
Martin ratio Return relative to average drawdown	10.68	13.63	-2.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPEF vs. JQUA - Sharpe Ratio Comparison

The current JPEF Sharpe Ratio is 1.72, which is comparable to the JQUA Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of JPEF 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

	JPEF	JQUA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.72	2.06	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.90	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.27	0.83	+0.43

Drawdowns

JPEF vs. JQUA - Drawdown Comparison

The maximum JPEF drawdown since its inception was -18.09%, smaller than the maximum JQUA drawdown of -32.92%. Use the drawdown chart below to compare losses from any high point for JPEF and JQUA.

Drawdown Indicators

	JPEF	JQUA	Difference
Max Drawdown Largest peak-to-trough decline	-18.09%	-32.92%	+14.83%
Max Drawdown (1Y) Largest decline over 1 year	-8.25%	-7.13%	-1.12%
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	-0.81%	-0.17%	-0.64%
Average Drawdown Average peak-to-trough decline	-2.15%	-4.16%	+2.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.82%	1.69%	+0.13%

Volatility

JPEF vs. JQUA - Volatility Comparison

JPMorgan Equity Focus ETF (JPEF) has a higher volatility of 3.01% compared to JPMorgan U.S. Quality Factor ETF (JQUA) at 2.84%. This indicates that JPEF'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

	JPEF	JQUA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.01%	2.84%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	8.64%	8.31%	+0.33%
Volatility (1Y) Calculated over the trailing 1-year period	11.38%	11.21%	+0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.02%	15.61%	-0.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.02%	17.99%	-2.97%

JPEF vs. JQUA - Expense Ratio Comparison

JPEF has a 0.50% expense ratio, which is higher than JQUA's 0.12% expense ratio.

Dividends

JPEF vs. JQUA - Dividend Comparison

JPEF's dividend yield for the trailing twelve months is around 0.65%, less than JQUA's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JPEF JPMorgan Equity Focus ETF	0.65%	0.70%	0.71%	0.39%	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 JPEF and JQUA in my portfolio?

JPEF 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, JPEF or JQUA?

JPEF has higher volatility (3.01%) compared to JQUA (2.84%). In terms of maximum drawdown, JPEF dropped -18.09% vs JQUA's -32.92%.

Which ETF is better, JPEF or JQUA?

On 1-year performance, JQUA leads with 22.93% vs 19.43% for JPEF. On fees, JQUA is cheaper at 0.12% per year. On volatility, JQUA has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPEF or JQUA?

Over the 1-year period, JQUA has performed better with a 22.93% return vs 19.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPEF or JQUA?

JQUA is cheaper with a 0.12% expense ratio, compared with 0.50% for JPEF.

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

JQUA has the higher dividend yield at 1.07%, compared with 0.65% for JPEF.

What is the main difference between JPEF and JQUA?

JPEF is categorized as Large Cap Blend Equities, while JQUA is Large Cap Growth Equities. Their fees differ too: 0.50% for JPEF and 0.12% for JQUA.

Which has better risk-adjusted returns?

JQUA currently has the higher Sharpe Ratio (2.06 vs 1.72), 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.