JQUA vs. QUS

Last updated Aug 4, 2026

JQUA (JPMorgan U.S. Quality Factor ETF) and QUS (State Street SPDR MSCI USA StrategicFactors ETF) are both exchange-traded funds - JQUA is a Quality Factor fund tracking the JP Morgan US Quality Factor Index, while QUS is a Large Cap Blend Equities fund tracking the MSCI USA Factor Mix A-Series Capped Index. Both are passively managed. Over the past 5 years, JQUA returned 12.98%/yr vs 10.91%/yr for QUS. Their correlation of 0.90 means they have usually moved in the same direction. JQUA charges 0.12%/yr vs 0.15%/yr for QUS.

Performance

JQUA vs. QUS - Performance Comparison

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

Returns By Period

In the year-to-date period, JQUA achieves a 15.84% return, which is significantly higher than QUS's 10.23% return.

JQUA

• 1D: 0.79%
• 1M: 1.13%
• 6M: 13.59%
• YTD: 15.84%
• 1Y: 23.18%
• 3Y*: 19.27%
• 5Y*: 12.98%
• 10Y*: —
• ALL TIME*: 14.80%

QUS

• 1D: 0.83%
• 1M: 1.29%
• 6M: 7.60%
• YTD: 10.23%
• 1Y: 19.80%
• 3Y*: 17.10%
• 5Y*: 10.91%
• 10Y*: 13.54%
• ALL TIME*: 12.75%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JQUA JPMorgan U.S. Quality Factor ETF	$27.54M	$28.89M	$36.27M
QUS State Street SPDR MSCI USA StrategicFactors ETF	$3.01M	$4.81M	$3.43M

JQUA vs. QUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JQUA JPMorgan U.S. Quality Factor ETF	15.84%	11.69%	21.21%	25.13%	-13.45%	28.68%	16.56%	28.47%	-2.98%	5.07%
QUS State Street SPDR MSCI USA StrategicFactors ETF	10.23%	14.13%	18.99%	21.78%	-14.15%	26.72%	12.40%	32.45%	-3.66%	4.05%

Correlation

The correlation between JQUA and QUS is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.96
Correlation (All Time) Calculated using the full available price history since Nov 9, 2017	0.90

The correlation between JQUA and QUS shifts across timeframes, from 0.85 (1 year) to 0.96 (5 years), reflecting how their relationship changes across market environments.

JQUA vs. QUS - Sectors Allocation Comparison

Sectors	JQUA	QUS
Technology	41.0%	28.4%
Financial Services	12.0%	15.7%
Consumer Cyclical	9.5%	5.7%
Industrials	8.9%	8.1%
Healthcare	8.8%	14.4%
Communication Services	6.2%	8.2%
Consumer Defensive	5.2%	8.3%
Energy	3.3%	3.3%
Real Estate	2.2%	1.6%
Basic Materials	1.7%	2.2%
Utilities	1.2%	3.9%

Return for Risk

JQUA vs. QUS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JQUA

JQUA Risk / Return Rank: 83
JQUA Sharpe Ratio Rank: 82
JQUA Sortino Ratio Rank: 82
JQUA Omega Ratio Rank: 79
JQUA Calmar Ratio Rank: 85
JQUA Martin Ratio Rank: 88

QUS

QUS Risk / Return Rank: 85
QUS Sharpe Ratio Rank: 87
QUS Sortino Ratio Rank: 88
QUS Omega Ratio Rank: 86
QUS Calmar Ratio Rank: 78
QUS Martin Ratio Rank: 86

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JQUA vs. QUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan U.S. Quality Factor ETF (JQUA) and State Street SPDR MSCI USA StrategicFactors ETF (QUS). 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	QUS	Difference
Sharpe ratio: Return per unit of total volatility	1.94	2.16	-0.22
Sortino ratio: Return per unit of downside risk	2.73	3.05	-0.32
Omega ratio: Gain probability vs. loss probability	1.34	1.39	-0.05
Calmar ratio: Return relative to maximum drawdown	3.27	2.90	+0.36
Martin ratio: Return relative to average drawdown	13.35	12.95	+0.40

JQUA vs. QUS - Sharpe Ratio Comparison

The current JQUA Sharpe Ratio is 1.94, which is comparable to the QUS Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of JQUA and QUS, 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. QUS - Drawdown Comparison

The maximum JQUA drawdown since its inception was -32.92%, roughly equal to the maximum QUS drawdown of -33.78%. Use the drawdown chart below to compare losses from any high point for JQUA and QUS.

Drawdown Indicators

	JQUA	QUS	Difference
Max Drawdown Largest peak-to-trough decline	-32.92%	-33.78%	+0.86%
Max Drawdown (1Y) Largest decline over 1 year	-7.13%	-6.85%	-0.28%
Max Drawdown (3Y) Largest decline over 3 years	-16.81%	-13.94%	-2.87%
Max Drawdown (5Y) Largest decline over 5 years	-22.47%	-22.30%	-0.17%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.78%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.10%	-3.66%	-0.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.74%	1.53%	+0.21%

Volatility

JQUA vs. QUS - Volatility Comparison

JPMorgan U.S. Quality Factor ETF (JQUA) and State Street SPDR MSCI USA StrategicFactors ETF (QUS) have volatilities of 2.46% and 2.42%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JQUA	QUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.46%	2.42%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	9.45%	6.97%	+2.48%
Volatility (1Y) Calculated over the trailing 1-year period	12.01%	9.22%	+2.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.73%	14.32%	+1.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.92%	16.40%	+1.52%

JQUA vs. QUS - Expense Ratio Comparison

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

JQUA's dividend yield for the trailing twelve months is around 1.07%, less than QUS's 1.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%
QUS State Street SPDR MSCI USA StrategicFactors ETF	1.27%	1.38%	1.49%	1.57%	1.68%	1.27%	1.73%	1.81%	2.12%	1.86%	2.07%	1.48%

Frequently Asked Questions

Can I hold both JQUA and QUS in my portfolio?

JQUA and QUS have a correlation of 0.85, 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 QUS?

JQUA has higher volatility (2.46%) compared to QUS (2.42%). In terms of maximum drawdown, JQUA dropped -32.92% vs QUS's -33.78%.

Which ETF is better, JQUA or QUS?

On 5-year performance, JQUA leads with 12.98% vs 10.91% for QUS. On fees, JQUA is cheaper at 0.12% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JQUA or QUS?

Over the 5-year period, JQUA has performed better with a 12.98% return vs 10.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JQUA or QUS?

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

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

QUS has the higher dividend yield at 1.27%, compared with 1.07% for JQUA.

What is the main difference between JQUA and QUS?

JQUA is categorized as Quality Factor, while QUS is Large Cap Blend Equities. JQUA tracks JP Morgan US Quality Factor Index, while QUS tracks MSCI USA Factor Mix A-Series Capped Index. They also come from different issuers: JPMorgan and State Street. Their fees differ too: 0.12% for JQUA and 0.15% for QUS.

Which has better risk-adjusted returns?

QUS currently has the higher Sharpe Ratio (2.16 vs 1.94), 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.