JPHY vs. JQUA

Last updated Jun 5, 2026

JPHY (JPMorgan High Yield Research Enhanced ETF) and JQUA (JPMorgan U.S. Quality Factor ETF) are both exchange-traded funds - JPHY is a High Yield Bonds fund actively managed by JPMorgan, while JQUA is a Large Cap Growth Equities fund tracking the JP Morgan US Quality Factor Index. JPHY is actively managed, while JQUA is passively managed. A 0.65 correlation means they provide meaningful diversification when combined. JPHY charges 0.24%/yr vs 0.12%/yr for JQUA.

Performance

JPHY vs. JQUA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan High Yield Research Enhanced ETF (JPHY) 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, JPHY achieves a 2.06% return, which is significantly lower than JQUA's 14.16% return.

JPHY

• 1D: -0.01%
• 1M: 0.35%
• YTD: 2.06%
• 6M: 2.42%
• 1Y: —
• 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)

JPHY vs. JQUA - Yearly Performance Comparison

	2026 (YTD)	2025
JPHY JPMorgan High Yield Research Enhanced ETF	2.06%	4.00%
JQUA JPMorgan U.S. Quality Factor ETF	14.16%	7.54%

Correlation

The correlation between JPHY and JQUA is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.65

JPHY vs. JQUA - Sectors Allocation Comparison

Sectors	JPHY	JQUA
Communication Services	15.8%	5.5%
Industrials	10.8%	7.6%
Consumer Cyclical	8.9%	9.2%
Energy	7.0%	3.2%
Healthcare	5.1%	7.2%
Technology	4.8%	41.9%
Basic Materials	3.6%	0.8%
Real Estate	3.0%	2.1%
Utilities	2.8%	2.3%
Consumer Defensive	2.4%	5.3%
Financial Services	1.8%	10.2%

Return for Risk

JPHY vs. JQUA — Risk / Return Rank

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

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.

JPHY vs. JQUA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan High Yield Research Enhanced ETF (JPHY) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	JPHY	JQUA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.03	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.90	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.16	0.83	+1.33

Drawdowns

JPHY vs. JQUA - Drawdown Comparison

The maximum JPHY drawdown since its inception was -1.65%, smaller than the maximum JQUA drawdown of -32.92%. Use the drawdown chart below to compare losses from any high point for JPHY and JQUA.

Drawdown Indicators

	JPHY	JQUA	Difference
Max Drawdown Largest peak-to-trough decline	-1.65%	-32.92%	+31.27%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.13%	—
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	-0.10%	-0.28%	+0.18%
Average Drawdown Average peak-to-trough decline	-0.21%	-4.16%	+3.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.69%	—

Volatility

Volatility by Period

	JPHY	JQUA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.82%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.31%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.04%	11.20%	-8.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.04%	15.61%	-12.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.04%	17.99%	-14.95%

JPHY vs. JQUA - Expense Ratio Comparison

JPHY 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

JPHY vs. JQUA - Dividend Comparison

JPHY's dividend yield for the trailing twelve months is around 5.92%, more than JQUA's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JPHY JPMorgan High Yield Research Enhanced ETF	5.92%	3.32%	0.00%	0.00%	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 JPHY and JQUA in my portfolio?

JPHY and JQUA have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JPHY or JQUA?

On fees, JQUA is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JPHY or JQUA?

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

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

JPHY has the higher dividend yield at 5.92%, compared with 1.07% for JQUA.

What is the main difference between JPHY and JQUA?

JPHY is categorized as High Yield Bonds, while JQUA is Large Cap Growth Equities. Their fees differ too: 0.24% for JPHY and 0.12% for JQUA.