JQUA vs. AFOS

Last updated Jun 21, 2026

JQUA (JPMorgan U.S. Quality Factor ETF) and AFOS (ARS Focused Opportunities Strategy ETF) are both Large Cap Blend Equities funds. A 0.70 correlation means they provide meaningful diversification when combined. JQUA charges 0.12%/yr vs 0.45%/yr for AFOS.

Performance

JQUA vs. AFOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan U.S. Quality Factor ETF (JQUA) and ARS Focused Opportunities Strategy ETF (AFOS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JQUA achieves a 13.36% return, which is significantly lower than AFOS's 35.81% return.

JQUA

• 1D: 1.25%
• 1M: 3.49%
• YTD: 13.36%
• 6M: 12.98%
• 1Y: 23.55%
• 3Y*: 19.07%
• 5Y*: 14.00%
• 10Y*: —

AFOS

• 1D: 1.90%
• 1M: 8.17%
• YTD: 35.81%
• 6M: 36.86%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JQUA vs. AFOS - Yearly Performance Comparison

	2026 (YTD)	2025
JQUA JPMorgan U.S. Quality Factor ETF	13.36%	7.54%
AFOS ARS Focused Opportunities Strategy ETF	35.81%	37.10%

Correlation

The correlation between JQUA and AFOS is 0.70, 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	0.70

Return for Risk

JQUA vs. AFOS — Risk / Return Rank

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

JQUA

JQUA Risk / Return Rank: 65
JQUA Sharpe Ratio Rank: 63
JQUA Sortino Ratio Rank: 62
JQUA Omega Ratio Rank: 58
JQUA Calmar Ratio Rank: 69
JQUA Martin Ratio Rank: 75

AFOS

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

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.

JQUA vs. AFOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan U.S. Quality Factor ETF (JQUA) and ARS Focused Opportunities Strategy ETF (AFOS). 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.

	JQUA	AFOS	Difference
Sharpe ratio: Return per unit of total volatility	1.97	—	—
Sortino ratio: Return per unit of downside risk	2.77	—	—
Omega ratio: Gain probability vs. loss probability	1.34	—	—
Calmar ratio: Return relative to maximum drawdown	3.28	—	—
Martin ratio: Return relative to average drawdown	13.45	—	—

Drawdowns

JQUA vs. AFOS - Drawdown Comparison

The maximum JQUA drawdown since its inception was -32.92%, which is greater than AFOS's maximum drawdown of -11.52%. Use the drawdown chart below to compare losses from any high point for JQUA and AFOS.

Drawdown Indicators

	JQUA	AFOS	Difference
Max Drawdown Largest peak-to-trough decline	-32.92%	-11.52%	-21.40%
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	-0.97%	0.00%	-0.97%
Average Drawdown Average peak-to-trough decline	-4.15%	-1.41%	-2.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.74%	—	—

Volatility

Volatility by Period

	JQUA	AFOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.14%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.31%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.88%	21.21%	-9.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.72%	21.21%	-5.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.01%	21.21%	-3.20%

JQUA vs. AFOS - Expense Ratio Comparison

JQUA has a 0.12% expense ratio, which is lower than AFOS's 0.45% expense ratio.

Dividends

JQUA vs. AFOS - Dividend Comparison

JQUA's dividend yield for the trailing twelve months is around 1.08%, more than AFOS's 0.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AFOS ARS Focused Opportunities Strategy ETF	0.22%	0.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JQUA JPMorgan U.S. Quality Factor ETF	1.08%	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 JQUA and AFOS in my portfolio?

JQUA and AFOS have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JQUA or AFOS?

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, JQUA or AFOS?

JQUA is cheaper with a 0.12% expense ratio, compared with 0.45% for AFOS.

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

JQUA has the higher dividend yield at 1.08%, compared with 0.22% for AFOS.

What is the main difference between JQUA and AFOS?

They also come from different issuers: JPMorgan and ARS Investment Partners. Their fees differ too: 0.12% for JQUA and 0.45% for AFOS.