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JQUA vs. QUS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JQUA vs. QUS

Last updated Jun 24, 2026

JQUA (JPMorgan U.S. Quality Factor ETF) and QUS (SPDR MSCI USA StrategicFactors ETF) are both exchange-traded funds - JQUA is a Large Cap Blend Equities fund tracking the JP Morgan US Quality Factor Index, while QUS is a Large Cap Growth Equities fund tracking the MSCI USA Factor Mix A-Series Capped (USD). Both are passively managed. Over the past 5 years, JQUA returned 13.08%/yr vs 10.77%/yr for QUS. Their correlation of 0.90 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.

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Returns By Period

In the year-to-date period, JQUA achieves a 11.30% return, which is significantly higher than QUS's 5.81% return.

JQUA

1D
-2.01%
1M
0.56%
YTD
11.30%
6M
10.20%
1Y
20.17%
3Y*
19.01%
5Y*
13.08%
10Y*
—

QUS

1D
-0.23%
1M
-1.12%
YTD
5.81%
6M
5.18%
1Y
16.61%
3Y*
16.79%
5Y*
10.77%
10Y*
13.70%
*Multi-year figures are annualized to reflect compound growth (CAGR)

JQUA vs. QUS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
JQUA
JPMorgan U.S. Quality Factor ETF		11.30%11.69%21.21%25.13%-13.45%28.68%16.56%28.47%-2.98%5.07%
QUS
SPDR MSCI USA StrategicFactors ETF		5.81%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 0.89, 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

0.89

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 9, 2017

0.90

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

JQUA vs. QUS - Sectors Allocation Comparison

Sectors
JQUA
QUS

Technology

43.9%
29.2%

Financial Services

11.1%
14.0%

Consumer Cyclical

9.2%
5.5%

Industrials

8.0%
8.2%

Healthcare

7.9%
13.4%

Communication Services

6.5%
9.9%

Consumer Defensive

5.2%
8.7%

Energy

3.4%
4.2%

Real Estate

2.1%
1.3%

Basic Materials

1.6%
2.2%

Utilities

1.2%
3.4%

Technology

JQUA
43.9%
QUS
29.2%

Financial Services

JQUA
11.1%
QUS
14.0%

Consumer Cyclical

JQUA
9.2%
QUS
5.5%

Industrials

JQUA
8.0%
QUS
8.2%

Healthcare

JQUA
7.9%
QUS
13.4%

Communication Services

JQUA
6.5%
QUS
9.9%

Consumer Defensive

JQUA
5.2%
QUS
8.7%

Energy

JQUA
3.4%
QUS
4.2%

Real Estate

JQUA
2.1%
QUS
1.3%

Basic Materials

JQUA
1.6%
QUS
2.2%

Utilities

JQUA
1.2%
QUS
3.4%

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

SPDR MSCI USA StrategicFactors ETF

Often compared with JQUA:
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Often compared with QUS:
QUS vs. QUALQUS vs. IVVQUS vs. SPYQUS vs. VOOQUS vs. DGTQUS vs. BERZQUS vs. QVML

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: 5555
Overall Rank
JQUA Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
JQUA Sortino Ratio Rank: 5050
Sortino Ratio Rank
JQUA Omega Ratio Rank: 4848
Omega Ratio Rank
JQUA Calmar Ratio Rank: 6060
Calmar Ratio Rank
JQUA Martin Ratio Rank: 6666
Martin Ratio Rank
QUS
QUS Risk / Return Rank: 5757
Overall Rank
QUS Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
QUS Sortino Ratio Rank: 5757
Sortino Ratio Rank
QUS Omega Ratio Rank: 5555
Omega Ratio Rank
QUS Calmar Ratio Rank: 5252
Calmar Ratio Rank
QUS Martin Ratio Rank: 6363
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. 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.

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.

JQUAQUSDifference
Sharpe ratioReturn per unit of total volatility
1.69
1.81

-0.13

Sortino ratioReturn per unit of downside risk
2.37
2.58

-0.22

Omega ratioGain probability vs. loss probability

1.29

1.32

-0.03

Calmar ratioReturn relative to maximum drawdown

2.84

2.43

+0.41

Martin ratioReturn relative to average drawdown

11.58

10.76

+0.82

JQUA vs. QUS - Sharpe Ratio Comparison

The current JQUA Sharpe Ratio is 1.69, which is comparable to the QUS Sharpe Ratio of 1.81. 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.

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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.

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Drawdown Indicators

JQUAQUSDifference

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

-2.77%

-1.84%

-0.93%

Average Drawdown

Average peak-to-trough decline

-4.15%

-3.69%

-0.46%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.75%

1.55%

+0.20%

Volatility

JQUA vs. QUS - Volatility Comparison

JPMorgan U.S. Quality Factor ETF (JQUA) has a higher volatility of 5.52% compared to SPDR MSCI USA StrategicFactors ETF (QUS) at 2.84%. 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.

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Volatility by Period

JQUAQUSDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.52%

2.84%

+2.68%

Volatility (6M)

Calculated over the trailing 6-month period

9.51%

6.98%

+2.53%

Volatility (1Y)

Calculated over the trailing 1-year period

12.05%

9.24%

+2.81%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.74%

14.34%

+1.40%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.01%

16.43%

+1.58%

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 1.10%, less than QUS's 1.32% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
QUS
SPDR MSCI USA StrategicFactors ETF		1.32%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

JQUA and QUS have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

JQUA has higher volatility (5.52%) compared to QUS (2.84%). In terms of maximum drawdown, JQUA dropped -32.92% vs QUS's -33.78%.

On 5-year performance, JQUA leads with 13.08% vs 10.77% for QUS. On fees, JQUA is cheaper at 0.12% per year. On volatility, QUS has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, JQUA has performed better with a 13.08% return vs 10.77%. 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 QUS.

QUS has the higher dividend yield at 1.32%, compared with 1.10% for JQUA.

JQUA is categorized as Large Cap Blend Equities, while QUS is Large Cap Growth Equities. 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.

QUS currently has the higher Sharpe Ratio (1.81 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.

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