JQUA vs. QUS

Last updated Jun 3, 2026

JQUA (JPMorgan U.S. Quality Factor ETF) and QUS (SPDR MSCI USA StrategicFactors ETF) are both Large Cap Growth Equities funds - JQUA tracks the JP Morgan US Quality Factor Index while QUS tracks the MSCI USA Factor Mix A-Series Capped (USD). Both are passively managed. Over the past 5 years, JQUA returned 14.20%/yr vs 11.37%/yr for QUS. Their correlation of 0.91 suggests significant overlap in exposure. 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 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 14.47% return, which is significantly higher than QUS's 7.13% return.

JQUA

• 1D: 0.42%
• 1M: 8.40%
• YTD: 14.47%
• 6M: 15.23%
• 1Y: 23.81%
• 3Y*: 20.64%
• 5Y*: 14.20%
• 10Y*: —

QUS

• 1D: -0.06%
• 1M: 2.61%
• YTD: 7.13%
• 6M: 7.86%
• 1Y: 18.57%
• 3Y*: 17.71%
• 5Y*: 11.37%
• 10Y*: 13.72%

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

JQUA vs. QUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JQUA JPMorgan U.S. Quality Factor ETF	14.47%	11.69%	21.21%	25.13%	-13.45%	28.68%	16.56%	28.47%	-2.98%	5.07%
QUS SPDR MSCI USA StrategicFactors ETF	7.13%	14.13%	18.99%	21.78%	-14.15%	26.72%	12.40%	32.45%	-3.66%	4.08%

Correlation

The correlation between JQUA and QUS is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Nov 10, 2017	0.91

The correlation between JQUA and QUS has been stable across timeframes, ranging from 0.90 to 0.97 - a consistent structural relationship.

JQUA vs. QUS - Sectors Allocation Comparison

Sectors	JQUA	QUS
Technology	41.9%	26.3%
Financial Services	10.2%	14.6%
Consumer Cyclical	9.2%	5.8%
Industrials	7.6%	8.6%
Healthcare	7.2%	13.4%
Communication Services	5.5%	10.2%
Consumer Defensive	5.3%	9.2%
Energy	3.2%	4.6%
Utilities	2.3%	3.6%
Real Estate	2.1%	1.4%
Basic Materials	0.8%	2.3%

Return for Risk

JQUA vs. QUS — Risk / Return Rank

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

JQUA

JQUA Risk / Return Rank: 66
JQUA Sharpe Ratio Rank: 63
JQUA Sortino Ratio Rank: 65
JQUA Omega Ratio Rank: 60
JQUA Calmar Ratio Rank: 67
JQUA Martin Ratio Rank: 74

QUS

QUS Risk / Return Rank: 61
QUS Sharpe Ratio Rank: 60
QUS Sortino Ratio Rank: 62
QUS Omega Ratio Rank: 60
QUS Calmar Ratio Rank: 55
QUS Martin Ratio Rank: 66

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. QUS - Risk-Adjusted Trends Comparison

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

	JQUA	QUS	Difference
Sharpe ratio Return per unit of total volatility	2.13	2.06	+0.08
Sortino ratio Return per unit of downside risk	3.04	2.94	+0.10
Omega ratio Gain probability vs. loss probability	1.37	1.37	0.00
Calmar ratio Return relative to maximum drawdown	3.38	2.77	+0.61
Martin ratio Return relative to average drawdown	14.27	12.37	+1.90
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. QUS - Sharpe Ratio Comparison

The current JQUA Sharpe Ratio is 2.13, which is comparable to the QUS Sharpe Ratio of 2.06. 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.

Sharpe Ratios by Period

	JQUA	QUS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	2.06	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.91	0.80	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	0.77	+0.06

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%	-0.07%	+0.07%
Average Drawdown Average peak-to-trough decline	-4.16%	-3.70%	-0.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	1.53%	+0.16%

Volatility

JQUA vs. QUS - Volatility Comparison

JPMorgan U.S. Quality Factor ETF (JQUA) has a higher volatility of 2.83% compared to SPDR MSCI USA StrategicFactors ETF (QUS) at 1.80%. This indicates that JQUA's price experiences larger fluctuations and is considered to be riskier than QUS based on this measure. 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	2.83%	1.80%	+1.03%
Volatility (6M) Calculated over the trailing 6-month period	8.33%	6.68%	+1.65%
Volatility (1Y) Calculated over the trailing 1-year period	11.21%	9.08%	+2.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.61%	14.32%	+1.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.99%	16.42%	+1.57%

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 1.31% 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 SPDR MSCI USA StrategicFactors ETF	1.31%	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?

With a correlation of 0.90, JQUA and QUS 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 QUS?

JQUA has higher volatility (2.83%) compared to QUS (1.80%). 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 14.20% vs 11.37% for QUS. On fees, JQUA is cheaper at 0.12% per year. On volatility, QUS has been the lower-risk option at 1.80%. 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 14.20% return vs 11.37%. 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 1.31%, compared with 1.07% for JQUA.

What is the main difference between JQUA and QUS?

JQUA tracks JP Morgan US Quality Factor Index, while QUS tracks MSCI USA Factor Mix A-Series Capped (USD). 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?

JQUA currently has the higher Sharpe Ratio (2.13 vs 2.06), 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.