JQUA vs. LRGF

Last updated Jun 6, 2026

JQUA (JPMorgan U.S. Quality Factor ETF) and LRGF (iShares MSCI USA Multifactor ETF) are both exchange-traded funds - JQUA is a Large Cap Growth Equities fund tracking the JP Morgan US Quality Factor Index, while LRGF is a Large Cap Blend Equities fund tracking the MSCI USA Diversified Multi-Factor. Both are passively managed. Over the past 5 years, JQUA returned 13.27%/yr vs 13.33%/yr for LRGF. Their correlation of 0.89 suggests significant overlap in exposure. JQUA charges 0.12%/yr vs 0.20%/yr for LRGF.

Performance

JQUA vs. LRGF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan U.S. Quality Factor ETF (JQUA) and iShares MSCI USA Multifactor ETF (LRGF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JQUA achieves a 10.93% return, which is significantly higher than LRGF's 8.09% return.

JQUA

• 1D: -2.82%
• 1M: 3.22%
• YTD: 10.93%
• 6M: 10.62%
• 1Y: 19.51%
• 3Y*: 19.44%
• 5Y*: 13.27%
• 10Y*: —

LRGF

• 1D: -2.51%
• 1M: 1.60%
• YTD: 8.09%
• 6M: 7.83%
• 1Y: 22.62%
• 3Y*: 21.85%
• 5Y*: 13.33%
• 10Y*: 13.67%

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

JQUA vs. LRGF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JQUA JPMorgan U.S. Quality Factor ETF	10.93%	11.69%	21.21%	25.13%	-13.45%	28.68%	16.56%	28.47%	-2.98%	5.07%
LRGF iShares MSCI USA Multifactor ETF	8.09%	16.48%	26.59%	25.85%	-14.77%	25.01%	11.11%	26.11%	-9.66%	3.18%

Correlation

The correlation between JQUA and LRGF is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Nov 10, 2017	0.89

The correlation between JQUA and LRGF has been stable across timeframes, ranging from 0.89 to 0.96 - a consistent structural relationship.

JQUA vs. LRGF - Sectors Allocation Comparison

Sectors	JQUA	LRGF
Technology	41.9%	35.6%
Financial Services	10.2%	12.5%
Consumer Cyclical	9.2%	11.2%
Industrials	7.6%	8.1%
Healthcare	7.2%	9.1%
Communication Services	5.5%	8.2%
Consumer Defensive	5.3%	6.0%
Energy	3.2%	3.7%
Utilities	2.3%	2.3%
Real Estate	2.1%	1.3%
Basic Materials	0.8%	2.0%

Return for Risk

JQUA vs. LRGF — Risk / Return Rank

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

JQUA

JQUA Risk / Return Rank: 54
JQUA Sharpe Ratio Rank: 51
JQUA Sortino Ratio Rank: 50
JQUA Omega Ratio Rank: 48
JQUA Calmar Ratio Rank: 57
JQUA Martin Ratio Rank: 65

LRGF

LRGF Risk / Return Rank: 56
LRGF Sharpe Ratio Rank: 56
LRGF Sortino Ratio Rank: 54
LRGF Omega Ratio Rank: 55
LRGF Calmar Ratio Rank: 53
LRGF Martin Ratio Rank: 61

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. LRGF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan U.S. Quality Factor ETF (JQUA) and iShares MSCI USA Multifactor ETF (LRGF). 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.

	JQUA	LRGF	Difference
Sharpe ratio: Return per unit of total volatility	1.69	1.85	-0.15
Sortino ratio: Return per unit of downside risk	2.38	2.52	-0.14
Omega ratio: Gain probability vs. loss probability	1.29	1.33	-0.04
Calmar ratio: Return relative to maximum drawdown	2.75	2.55	+0.20
Martin ratio: Return relative to average drawdown	11.52	10.53	+0.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JQUA vs. LRGF - Sharpe Ratio Comparison

The current JQUA Sharpe Ratio is 1.69, which is comparable to the LRGF Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of JQUA and LRGF, 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

	JQUA	LRGF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.69	1.85	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	0.78	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.75	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.68	+0.13

Drawdowns

JQUA vs. LRGF - Drawdown Comparison

The maximum JQUA drawdown since its inception was -32.92%, smaller than the maximum LRGF drawdown of -36.03%. Use the drawdown chart below to compare losses from any high point for JQUA and LRGF.

Drawdown Indicators

	JQUA	LRGF	Difference
Max Drawdown Largest peak-to-trough decline	-32.92%	-36.03%	+3.11%
Max Drawdown (1Y) Largest decline over 1 year	-7.13%	-8.92%	+1.79%
Max Drawdown (3Y) Largest decline over 3 years	-16.81%	-19.44%	+2.63%
Max Drawdown (5Y) Largest decline over 5 years	-22.47%	-21.62%	-0.85%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.03%	—
Current Drawdown Current decline from peak	-3.09%	-2.88%	-0.21%
Average Drawdown Average peak-to-trough decline	-4.16%	-4.54%	+0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.70%	2.15%	-0.45%

Volatility

JQUA vs. LRGF - Volatility Comparison

JPMorgan U.S. Quality Factor ETF (JQUA) has a higher volatility of 4.19% compared to iShares MSCI USA Multifactor ETF (LRGF) at 3.81%. This indicates that JQUA's price experiences larger fluctuations and is considered to be riskier than LRGF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JQUA	LRGF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.19%	3.81%	+0.38%
Volatility (6M) Calculated over the trailing 6-month period	8.82%	9.46%	-0.64%
Volatility (1Y) Calculated over the trailing 1-year period	11.57%	12.32%	-0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.66%	17.05%	-1.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.01%	18.33%	-0.32%

JQUA vs. LRGF - Expense Ratio Comparison

JQUA has a 0.12% expense ratio, which is lower than LRGF's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

JQUA vs. LRGF - Dividend Comparison

JQUA's dividend yield for the trailing twelve months is around 1.10%, more than LRGF's 1.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JQUA JPMorgan U.S. Quality Factor ETF	1.10%	1.19%	1.24%	1.21%	1.60%	1.32%	1.44%	1.67%	2.10%	0.40%	0.00%	0.00%
LRGF iShares MSCI USA Multifactor ETF	1.08%	1.16%	1.23%	1.49%	1.78%	1.05%	1.35%	1.76%	3.27%	1.68%	1.56%	0.83%

Frequently Asked Questions

Can I hold both JQUA and LRGF in my portfolio?

With a correlation of 0.91, JQUA and LRGF move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, JQUA or LRGF?

JQUA has higher volatility (4.19%) compared to LRGF (3.81%). In terms of maximum drawdown, JQUA dropped -32.92% vs LRGF's -36.03%.

Which ETF is better, JQUA or LRGF?

On 5-year performance, LRGF leads with 13.33% vs 13.27% for JQUA. On fees, JQUA is cheaper at 0.12% per year. On volatility, LRGF has been the lower-risk option at 3.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JQUA or LRGF?

Over the 5-year period, LRGF has performed better with a 13.33% return vs 13.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JQUA or LRGF?

JQUA is cheaper with a 0.12% expense ratio, compared with 0.20% for LRGF.

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

JQUA has the higher dividend yield at 1.10%, compared with 1.08% for LRGF.

What is the main difference between JQUA and LRGF?

JQUA is categorized as Large Cap Growth Equities, while LRGF is Large Cap Blend Equities. JQUA tracks JP Morgan US Quality Factor Index, while LRGF tracks MSCI USA Diversified Multi-Factor. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.12% for JQUA and 0.20% for LRGF.

Which has better risk-adjusted returns?

LRGF currently has the higher Sharpe Ratio (1.85 vs 1.69), 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.