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JQUA vs. MTUM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JQUA vs. MTUM

Last updated Jun 21, 2026

JQUA (JPMorgan U.S. Quality Factor ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - JQUA is a Large Cap Blend Equities fund tracking the JP Morgan US Quality Factor Index, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. Both are passively managed. Over the past 5 years, JQUA returned 14.00%/yr vs 16.78%/yr for MTUM. A 0.77 correlation means they provide meaningful diversification when combined. JQUA charges 0.12%/yr vs 0.15%/yr for MTUM.

Performance

JQUA vs. MTUM - 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 Momentum Factor ETF (MTUM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, JQUA achieves a 13.36% return, which is significantly lower than MTUM's 35.51% return.

JQUA

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

MTUM

1D
3.12%
1M
12.16%
YTD
35.51%
6M
35.00%
1Y
48.04%
3Y*
34.51%
5Y*
16.78%
10Y*
17.65%
*Multi-year figures are annualized to reflect compound growth (CAGR)

JQUA vs. MTUM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
JQUA
JPMorgan U.S. Quality Factor ETF		13.36%11.69%21.21%25.13%-13.45%28.68%16.56%28.47%-2.98%5.07%
MTUM
iShares MSCI USA Momentum Factor ETF		35.51%22.15%32.89%9.15%-18.27%13.36%29.86%27.25%-1.67%2.44%

Correlation

The correlation between JQUA and MTUM is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.75

Correlation (3Y)
Calculated over the trailing 3-year period

0.82

Correlation (5Y)
Calculated over the trailing 5-year period

0.83

Correlation (All Time)
Calculated using the full available price history since Nov 9, 2017

0.77

The correlation between JQUA and MTUM has been stable across timeframes, ranging from 0.75 to 0.83 - a consistent structural relationship.

JQUA vs. MTUM - Sectors Allocation Comparison

Sectors
JQUA
MTUM

Technology

43.9%
50.2%

Financial Services

11.1%
5.0%

Consumer Cyclical

9.2%
2.9%

Industrials

8.0%
15.0%

Healthcare

7.9%
3.5%

Communication Services

6.5%
5.1%

Consumer Defensive

5.2%
3.7%

Energy

3.4%
10.5%

Real Estate

2.1%
1.3%

Basic Materials

1.6%
2.3%

Utilities

1.2%
0.6%

Technology

JQUA
43.9%
MTUM
50.2%

Financial Services

JQUA
11.1%
MTUM
5.0%

Consumer Cyclical

JQUA
9.2%
MTUM
2.9%

Industrials

JQUA
8.0%
MTUM
15.0%

Healthcare

JQUA
7.9%
MTUM
3.5%

Communication Services

JQUA
6.5%
MTUM
5.1%

Consumer Defensive

JQUA
5.2%
MTUM
3.7%

Energy

JQUA
3.4%
MTUM
10.5%

Real Estate

JQUA
2.1%
MTUM
1.3%

Basic Materials

JQUA
1.6%
MTUM
2.3%

Utilities

JQUA
1.2%
MTUM
0.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

JPMorgan U.S. Quality Factor ETF

iShares MSCI USA Momentum Factor ETF

Often compared with JQUA:
JQUA vs. SPHQJQUA vs. VFQYJQUA vs. CGDVJQUA vs. SCHDJQUA vs. FQALJQUA vs. VIGJQUA vs. QUS
Often compared with MTUM:
MTUM vs. SPMOMTUM vs. SPYMTUM vs. QQQMTUM vs. QUALMTUM vs. VFMOMTUM vs. VOOMTUM vs. QMOM

Return for Risk

JQUA vs. MTUM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
JQUA
JQUA Risk / Return Rank: 6565
Overall Rank
JQUA Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
JQUA Sortino Ratio Rank: 6262
Sortino Ratio Rank
JQUA Omega Ratio Rank: 5858
Omega Ratio Rank
JQUA Calmar Ratio Rank: 6969
Calmar Ratio Rank
JQUA Martin Ratio Rank: 7575
Martin Ratio Rank
MTUM
MTUM Risk / Return Rank: 7777
Overall Rank
MTUM Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
MTUM Sortino Ratio Rank: 6969
Sortino Ratio Rank
MTUM Omega Ratio Rank: 7373
Omega Ratio Rank
MTUM Calmar Ratio Rank: 8383
Calmar Ratio Rank
MTUM Martin Ratio Rank: 8383
Martin Ratio Rank
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. MTUM - 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 Momentum Factor ETF (MTUM). 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.

JQUAMTUMDifference
Sharpe ratioReturn per unit of total volatility
1.97
2.26

-0.29

Sortino ratioReturn per unit of downside risk
2.77
2.96

-0.19

Omega ratioGain probability vs. loss probability

1.34

1.41

-0.06

Calmar ratioReturn relative to maximum drawdown

3.28

4.18

-0.90

Martin ratioReturn relative to average drawdown

13.45

16.07

-2.62

JQUA vs. MTUM - Sharpe Ratio Comparison

The current JQUA Sharpe Ratio is 1.97, which is comparable to the MTUM Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of JQUA and MTUM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

JQUA vs. MTUM - Drawdown Comparison

The maximum JQUA drawdown since its inception was -32.92%, roughly equal to the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for JQUA and MTUM.

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Drawdown Indicators

JQUAMTUMDifference

Max Drawdown

Largest peak-to-trough decline

-32.92%

-34.08%

+1.16%

Max Drawdown (1Y)

Largest decline over 1 year

-7.13%

-11.54%

+4.41%

Max Drawdown (3Y)

Largest decline over 3 years

-16.81%

-20.99%

+4.18%

Max Drawdown (5Y)

Largest decline over 5 years

-22.47%

-32.28%

+9.81%

Max Drawdown (10Y)

Largest decline over 10 years

—

-34.08%

—

Current Drawdown

Current decline from peak

-0.97%

0.00%

-0.97%

Average Drawdown

Average peak-to-trough decline

-4.15%

-6.20%

+2.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.74%

3.00%

-1.26%

Volatility

JQUA vs. MTUM - Volatility Comparison

The current volatility for JPMorgan U.S. Quality Factor ETF (JQUA) is 5.14%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 11.07%. This indicates that JQUA experiences smaller price fluctuations and is considered to be less risky than MTUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

JQUAMTUMDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.14%

11.07%

-5.93%

Volatility (6M)

Calculated over the trailing 6-month period

9.31%

18.99%

-9.68%

Volatility (1Y)

Calculated over the trailing 1-year period

11.88%

21.36%

-9.48%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.72%

21.04%

-5.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.01%

21.26%

-3.25%

JQUA vs. MTUM - Expense Ratio Comparison

JQUA has a 0.12% expense ratio, which is lower than MTUM's 0.15% 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. MTUM - Dividend Comparison

JQUA's dividend yield for the trailing twelve months is around 1.08%, more than MTUM's 0.55% yield.

PositionTTM20252024202320222021202020192018201720162015
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%0.00%0.00%
MTUM
iShares MSCI USA Momentum Factor ETF		0.55%0.91%0.75%1.35%1.80%0.55%0.83%1.48%1.27%1.02%1.43%1.12%

Frequently Asked Questions

JQUA and MTUM have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MTUM has higher volatility (11.07%) compared to JQUA (5.14%). In terms of maximum drawdown, JQUA dropped -32.92% vs MTUM's -34.08%.

On 5-year performance, MTUM leads with 16.78% vs 14.00% for JQUA. On fees, JQUA is cheaper at 0.12% per year. On volatility, JQUA has been the lower-risk option at 5.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, MTUM has performed better with a 16.78% return vs 14.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

JQUA is cheaper with a 0.12% expense ratio, compared with 0.15% for MTUM.

JQUA has the higher dividend yield at 1.08%, compared with 0.55% for MTUM.

JQUA is categorized as Large Cap Blend Equities, while MTUM is Momentum. JQUA tracks JP Morgan US Quality Factor Index, while MTUM tracks MSCI USA Momentum SR Variant Index. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.12% for JQUA and 0.15% for MTUM.

MTUM currently has the higher Sharpe Ratio (2.26 vs 1.97), 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.

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