JUSA vs. USPX

Last updated Aug 2, 2026

JUSA (JPMorgan U.S. Research Enhanced Large Cap ETF) and USPX (Franklin U.S. Equity Index ETF) are both Large Cap Blend Equities funds. JUSA is actively managed, while USPX is passively managed. Over the past year, JUSA returned 20.83% vs 20.68% for USPX. Their 0.98 correlation means they have historically moved very closely together. JUSA charges 0.20%/yr vs 0.03%/yr for USPX.

Performance

JUSA vs. USPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan U.S. Research Enhanced Large Cap ETF (JUSA) and Franklin U.S. Equity Index ETF (USPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with JUSA having a 9.88% return and USPX slightly lower at 9.67%.

JUSA

• 1D: 0.73%
• 1M: 0.79%
• 6M: 8.34%
• YTD: 9.88%
• 1Y: 20.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 23.88%

USPX

• 1D: 0.59%
• 1M: 0.02%
• 6M: 8.24%
• YTD: 9.67%
• 1Y: 20.68%
• 3Y*: 19.24%
• 5Y*: 11.75%
• 10Y*: 12.14%
• ALL TIME*: 12.43%

*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)
JUSA JPMorgan U.S. Research Enhanced Large Cap ETF	$26.01M	$13.36M	$11.16M
USPX Franklin U.S. Equity Index ETF	$3.15M	$2.94M	$3.73M

JUSA vs. USPX - Yearly Performance Comparison

	2026 (YTD)	2025
JUSA JPMorgan U.S. Research Enhanced Large Cap ETF	9.88%	22.30%
USPX Franklin U.S. Equity Index ETF	9.67%	25.31%

Correlation

The correlation between JUSA and USPX is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.99
Correlation (All Time) Calculated using the full available price history since Mar 14, 2025	0.98

The correlation between JUSA and USPX has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

JUSA vs. USPX - Sectors Allocation Comparison

Sectors	JUSA	USPX
Technology	38.4%	37.4%
Financial Services	11.5%	12.5%
Consumer Cyclical	10.3%	8.8%
Communication Services	9.8%	9.6%
Healthcare	8.9%	9.4%
Industrials	8.6%	7.9%
Consumer Defensive	3.9%	4.7%
Energy	2.9%	3.4%
Utilities	2.2%	2.6%
Real Estate	1.8%	1.8%
Basic Materials	1.8%	1.7%

Return for Risk

JUSA vs. USPX — Risk / Return Rank

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

JUSA

JUSA Risk / Return Rank: 64
JUSA Sharpe Ratio Rank: 64
JUSA Sortino Ratio Rank: 62
JUSA Omega Ratio Rank: 62
JUSA Calmar Ratio Rank: 60
JUSA Martin Ratio Rank: 73

USPX

USPX Risk / Return Rank: 61
USPX Sharpe Ratio Rank: 61
USPX Sortino Ratio Rank: 59
USPX Omega Ratio Rank: 59
USPX Calmar Ratio Rank: 58
USPX Martin Ratio Rank: 70

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.

JUSA vs. USPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan U.S. Research Enhanced Large Cap ETF (JUSA) and Franklin U.S. Equity Index ETF (USPX). 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.

	JUSA	USPX	Difference
Sharpe ratio: Return per unit of total volatility	1.49	1.44	+0.06
Sortino ratio: Return per unit of downside risk	2.10	2.01	+0.09
Omega ratio: Gain probability vs. loss probability	1.27	1.26	+0.01
Calmar ratio: Return relative to maximum drawdown	2.13	2.04	+0.09
Martin ratio: Return relative to average drawdown	9.13	8.56	+0.57

JUSA vs. USPX - Sharpe Ratio Comparison

The current JUSA Sharpe Ratio is 1.49, which is comparable to the USPX Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of JUSA and USPX, 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

JUSA vs. USPX - Drawdown Comparison

The maximum JUSA drawdown since its inception was -14.02%, smaller than the maximum USPX drawdown of -31.21%. Use the drawdown chart below to compare losses from any high point for JUSA and USPX.

Drawdown Indicators

	JUSA	USPX	Difference
Max Drawdown Largest peak-to-trough decline	-14.02%	-31.21%	+17.19%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-9.15%	+0.22%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.21%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.60%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-31.21%	—
Current Drawdown Current decline from peak	-0.83%	-1.63%	+0.80%
Average Drawdown Average peak-to-trough decline	-1.54%	-4.40%	+2.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.08%	2.18%	-0.10%

Volatility

JUSA vs. USPX - Volatility Comparison

JPMorgan U.S. Research Enhanced Large Cap ETF (JUSA) has a higher volatility of 3.61% compared to Franklin U.S. Equity Index ETF (USPX) at 3.39%. This indicates that JUSA's price experiences larger fluctuations and is considered to be riskier than USPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JUSA	USPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	3.39%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	10.00%	10.23%	-0.23%
Volatility (1Y) Calculated over the trailing 1-year period	12.76%	13.02%	-0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.28%	16.30%	+1.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.28%	15.97%	+2.31%

JUSA vs. USPX - Expense Ratio Comparison

JUSA has a 0.20% expense ratio, which is higher than USPX's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

JUSA vs. USPX - Dividend Comparison

JUSA's dividend yield for the trailing twelve months is around 0.79%, less than USPX's 1.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
JUSA JPMorgan U.S. Research Enhanced Large Cap ETF	0.79%	0.77%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USPX Franklin U.S. Equity Index ETF	1.09%	1.07%	1.23%	1.35%	2.21%	2.40%	2.51%	3.07%	2.91%	2.60%	4.89%

Frequently Asked Questions

Can I hold both JUSA and USPX in my portfolio?

With a correlation of 0.99, JUSA and USPX 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, JUSA or USPX?

JUSA has higher volatility (3.61%) compared to USPX (3.39%). In terms of maximum drawdown, JUSA dropped -14.02% vs USPX's -31.21%.

Which ETF is better, JUSA or USPX?

On 1-year performance, JUSA leads with 20.83% vs 20.68% for USPX. On fees, USPX is cheaper at 0.03% per year. On volatility, USPX has been the lower-risk option at 3.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JUSA or USPX?

Over the 1-year period, JUSA has performed better with a 20.83% return vs 20.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JUSA or USPX?

USPX is cheaper with a 0.03% expense ratio, compared with 0.20% for JUSA.

Which ETF pays a higher dividend yield, JUSA or USPX?

USPX has the higher dividend yield at 1.09%, compared with 0.79% for JUSA.

What is the main difference between JUSA and USPX?

They also come from different issuers: JPMorgan and Franklin Templeton. Their fees differ too: 0.20% for JUSA and 0.03% for USPX.

Which has better risk-adjusted returns?

JUSA currently has the higher Sharpe Ratio (1.49 vs 1.44), 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.