JQUA vs. NRSH

Last updated Jun 21, 2026

JQUA (JPMorgan U.S. Quality Factor ETF) and NRSH (Aztlan North America Nearshoring Stock Selection ETF) are both Large Cap Blend Equities funds - JQUA tracks the JP Morgan US Quality Factor Index while NRSH tracks the Aztlan North America Nearshoring Price Return Index - Benchmark Price Return. Both are passively managed. Over the past year, JQUA returned 23.55% vs 56.94% for NRSH. A 0.68 correlation means they provide meaningful diversification when combined. JQUA charges 0.12%/yr vs 0.75%/yr for NRSH.

Performance

JQUA vs. NRSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan U.S. Quality Factor ETF (JQUA) and Aztlan North America Nearshoring Stock Selection ETF (NRSH). 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 NRSH's 45.83% return.

JQUA

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

NRSH

• 1D: 1.48%
• 1M: 8.58%
• YTD: 45.83%
• 6M: 43.93%
• 1Y: 56.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JQUA vs. NRSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JQUA JPMorgan U.S. Quality Factor ETF	13.36%	11.69%	21.21%	5.47%
NRSH Aztlan North America Nearshoring Stock Selection ETF	45.83%	12.95%	-6.17%	9.15%

Correlation

The correlation between JQUA and NRSH is 0.71, 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	0.71
Correlation (All Time) Calculated using the full available price history since Nov 30, 2023	0.68

The correlation between JQUA and NRSH has been stable across timeframes, ranging from 0.68 to 0.71 - a consistent structural relationship.

JQUA vs. NRSH - Sectors Allocation Comparison

Sectors	JQUA	NRSH
Technology	43.9%	36.7%
Financial Services	11.1%	-
Consumer Cyclical	9.2%	-
Industrials	8.0%	57.9%
Healthcare	7.9%	-
Communication Services	6.5%	-
Consumer Defensive	5.2%	-
Energy	3.4%	2.5%
Real Estate	2.1%	5.4%
Basic Materials	1.6%	-
Utilities	1.2%	-

Return for Risk

JQUA vs. NRSH — 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

NRSH

NRSH Risk / Return Rank: 75
NRSH Sharpe Ratio Rank: 73
NRSH Sortino Ratio Rank: 65
NRSH Omega Ratio Rank: 64
NRSH Calmar Ratio Rank: 90
NRSH Martin Ratio Rank: 82

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. NRSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan U.S. Quality Factor ETF (JQUA) and Aztlan North America Nearshoring Stock Selection ETF (NRSH). 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	NRSH	Difference
Sharpe ratio: Return per unit of total volatility	1.97	2.23	-0.26
Sortino ratio: Return per unit of downside risk	2.77	2.88	-0.11
Omega ratio: Gain probability vs. loss probability	1.34	1.37	-0.03
Calmar ratio: Return relative to maximum drawdown	3.28	5.25	-1.96
Martin ratio: Return relative to average drawdown	13.45	15.96	-2.51

JQUA vs. NRSH - Sharpe Ratio Comparison

The current JQUA Sharpe Ratio is 1.97, which is comparable to the NRSH Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of JQUA and NRSH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JQUA vs. NRSH - Drawdown Comparison

The maximum JQUA drawdown since its inception was -32.92%, which is greater than NRSH's maximum drawdown of -24.01%. Use the drawdown chart below to compare losses from any high point for JQUA and NRSH.

Drawdown Indicators

	JQUA	NRSH	Difference
Max Drawdown Largest peak-to-trough decline	-32.92%	-24.01%	-8.91%
Max Drawdown (1Y) Largest decline over 1 year	-7.13%	-10.94%	+3.81%
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%	-1.42%	+0.45%
Average Drawdown Average peak-to-trough decline	-4.15%	-5.57%	+1.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.74%	3.59%	-1.85%

Volatility

JQUA vs. NRSH - Volatility Comparison

The current volatility for JPMorgan U.S. Quality Factor ETF (JQUA) is 5.14%, while Aztlan North America Nearshoring Stock Selection ETF (NRSH) has a volatility of 9.97%. This indicates that JQUA experiences smaller price fluctuations and is considered to be less risky than NRSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JQUA	NRSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.14%	9.97%	-4.83%
Volatility (6M) Calculated over the trailing 6-month period	9.31%	21.64%	-12.33%
Volatility (1Y) Calculated over the trailing 1-year period	11.88%	25.75%	-13.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.72%	22.00%	-6.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.01%	22.00%	-3.99%

JQUA vs. NRSH - Expense Ratio Comparison

JQUA has a 0.12% expense ratio, which is lower than NRSH's 0.75% expense ratio.

Dividends

JQUA vs. NRSH - Dividend Comparison

JQUA's dividend yield for the trailing twelve months is around 1.08%, more than NRSH's 0.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
NRSH Aztlan North America Nearshoring Stock Selection ETF	0.28%	0.42%	0.90%	0.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JQUA and NRSH in my portfolio?

JQUA and NRSH have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JQUA or NRSH?

NRSH has higher volatility (9.97%) compared to JQUA (5.14%). In terms of maximum drawdown, JQUA dropped -32.92% vs NRSH's -24.01%.

Which ETF is better, JQUA or NRSH?

On 1-year performance, NRSH leads with 56.94% vs 23.55% 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.

Which ETF has performed better, JQUA or NRSH?

Over the 1-year period, NRSH has performed better with a 56.94% return vs 23.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JQUA or NRSH?

JQUA is cheaper with a 0.12% expense ratio, compared with 0.75% for NRSH.

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

JQUA has the higher dividend yield at 1.08%, compared with 0.28% for NRSH.

What is the main difference between JQUA and NRSH?

JQUA tracks JP Morgan US Quality Factor Index, while NRSH tracks Aztlan North America Nearshoring Price Return Index - Benchmark Price Return. They also come from different issuers: JPMorgan and Aztlan. Their fees differ too: 0.12% for JQUA and 0.75% for NRSH.

Which has better risk-adjusted returns?

NRSH currently has the higher Sharpe Ratio (2.23 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.