JVAL vs. CBSE

Last updated Jun 4, 2026

JVAL (JPMorgan U.S. Value Factor ETF) and CBSE (Clough Select Equity ETF) are both Large Cap Value Equities funds. JVAL is passively managed, while CBSE is actively managed. Over the past 5 years, JVAL returned 12.29%/yr vs 12.52%/yr for CBSE. A 0.79 correlation means they provide meaningful diversification when combined. JVAL charges 0.12%/yr vs 0.85%/yr for CBSE.

Performance

JVAL vs. CBSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan U.S. Value Factor ETF (JVAL) and Clough Select Equity ETF (CBSE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JVAL achieves a 19.44% return, which is significantly lower than CBSE's 32.18% return.

JVAL

• 1D: -0.29%
• 1M: 8.75%
• YTD: 19.44%
• 6M: 19.72%
• 1Y: 39.93%
• 3Y*: 22.05%
• 5Y*: 12.29%
• 10Y*: —

CBSE

• 1D: -0.93%
• 1M: 10.89%
• YTD: 32.18%
• 6M: 29.85%
• 1Y: 51.66%
• 3Y*: 31.65%
• 5Y*: 12.52%
• 10Y*: —

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

JVAL vs. CBSE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
JVAL JPMorgan U.S. Value Factor ETF	19.44%	16.16%	14.53%	19.48%	-11.58%	31.31%	7.34%
CBSE Clough Select Equity ETF	32.18%	19.53%	32.20%	17.29%	-19.92%	14.57%	16.87%

Correlation

The correlation between JVAL and CBSE is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Nov 16, 2020	0.79

The correlation between JVAL and CBSE has been stable across timeframes, ranging from 0.72 to 0.79 - a consistent structural relationship.

Return for Risk

JVAL vs. CBSE — Risk / Return Rank

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

JVAL

JVAL Risk / Return Rank: 86
JVAL Sharpe Ratio Rank: 87
JVAL Sortino Ratio Rank: 87
JVAL Omega Ratio Rank: 83
JVAL Calmar Ratio Rank: 85
JVAL Martin Ratio Rank: 87

CBSE

CBSE Risk / Return Rank: 67
CBSE Sharpe Ratio Rank: 70
CBSE Sortino Ratio Rank: 65
CBSE Omega Ratio Rank: 61
CBSE Calmar Ratio Rank: 76
CBSE Martin Ratio Rank: 64

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.

JVAL vs. CBSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan U.S. Value Factor ETF (JVAL) and Clough Select Equity ETF (CBSE). 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.

	JVAL	CBSE	Difference
Sharpe ratio: Return per unit of total volatility	2.92	2.30	+0.62
Sortino ratio: Return per unit of downside risk	3.99	3.02	+0.98
Omega ratio: Gain probability vs. loss probability	1.51	1.37	+0.14
Calmar ratio: Return relative to maximum drawdown	4.73	3.83	+0.91
Martin ratio: Return relative to average drawdown	18.70	11.59	+7.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JVAL vs. CBSE - Sharpe Ratio Comparison

The current JVAL Sharpe Ratio is 2.92, which is comparable to the CBSE Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of JVAL and CBSE, 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

	JVAL	CBSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.92	2.30	+0.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.52	+0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.80	-0.14

Drawdowns

JVAL vs. CBSE - Drawdown Comparison

The maximum JVAL drawdown since its inception was -40.42%, which is greater than CBSE's maximum drawdown of -36.30%. Use the drawdown chart below to compare losses from any high point for JVAL and CBSE.

Drawdown Indicators

	JVAL	CBSE	Difference
Max Drawdown Largest peak-to-trough decline	-40.42%	-36.30%	-4.12%
Max Drawdown (1Y) Largest decline over 1 year	-8.48%	-13.57%	+5.09%
Max Drawdown (3Y) Largest decline over 3 years	-20.07%	-29.40%	+9.33%
Max Drawdown (5Y) Largest decline over 5 years	-22.39%	-36.30%	+13.91%
Current Drawdown Current decline from peak	-0.29%	-0.93%	+0.64%
Average Drawdown Average peak-to-trough decline	-5.30%	-12.31%	+7.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	4.47%	-2.33%

Volatility

JVAL vs. CBSE - Volatility Comparison

The current volatility for JPMorgan U.S. Value Factor ETF (JVAL) is 4.02%, while Clough Select Equity ETF (CBSE) has a volatility of 7.80%. This indicates that JVAL experiences smaller price fluctuations and is considered to be less risky than CBSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JVAL	CBSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.02%	7.80%	-3.78%
Volatility (6M) Calculated over the trailing 6-month period	10.08%	17.58%	-7.50%
Volatility (1Y) Calculated over the trailing 1-year period	13.79%	22.55%	-8.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.13%	24.06%	-6.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.82%	23.79%	-3.97%

JVAL vs. CBSE - Expense Ratio Comparison

JVAL has a 0.12% expense ratio, which is lower than CBSE's 0.85% expense ratio.

Dividends

JVAL vs. CBSE - Dividend Comparison

JVAL's dividend yield for the trailing twelve months is around 1.72%, more than CBSE's 0.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CBSE Clough Select Equity ETF	0.26%	0.35%	0.37%	1.50%	0.52%	0.00%	0.00%	0.00%	0.00%	0.00%
JVAL JPMorgan U.S. Value Factor ETF	1.72%	2.08%	2.21%	2.43%	2.46%	1.88%	2.55%	2.58%	2.61%	0.45%

Frequently Asked Questions

Can I hold both JVAL and CBSE in my portfolio?

JVAL and CBSE have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JVAL or CBSE?

CBSE has higher volatility (7.80%) compared to JVAL (4.02%). In terms of maximum drawdown, JVAL dropped -40.42% vs CBSE's -36.30%.

Which ETF is better, JVAL or CBSE?

On 5-year performance, CBSE leads with 12.52% vs 12.29% for JVAL. On fees, JVAL is cheaper at 0.12% per year. On volatility, JVAL has been the lower-risk option at 4.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JVAL or CBSE?

Over the 5-year period, CBSE has performed better with a 12.52% return vs 12.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JVAL or CBSE?

JVAL is cheaper with a 0.12% expense ratio, compared with 0.85% for CBSE.

Which ETF pays a higher dividend yield, JVAL or CBSE?

JVAL has the higher dividend yield at 1.72%, compared with 0.26% for CBSE.

What is the main difference between JVAL and CBSE?

They also come from different issuers: JPMorgan and Clough. Their fees differ too: 0.12% for JVAL and 0.85% for CBSE.

Which has better risk-adjusted returns?

JVAL currently has the higher Sharpe Ratio (2.92 vs 2.30), 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.