KIE vs. JQUA

Last updated Jun 14, 2026

KIE (SPDR S&P Insurance ETF) and JQUA (JPMorgan U.S. Quality Factor ETF) are both exchange-traded funds - KIE is a Financials Equities fund tracking the S&P Insurance Select Industry Index, while JQUA is a Large Cap Blend Equities fund tracking the JP Morgan US Quality Factor Index. Both are passively managed. Over the past 5 years, KIE returned 10.11%/yr vs 13.40%/yr for JQUA. A 0.62 correlation means they provide meaningful diversification when combined. KIE charges 0.35%/yr vs 0.12%/yr for JQUA.

Performance

KIE vs. JQUA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Insurance ETF (KIE) and JPMorgan U.S. Quality Factor ETF (JQUA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KIE achieves a -2.34% return, which is significantly lower than JQUA's 12.70% return.

KIE

• 1D: 0.64%
• 1M: 3.87%
• YTD: -2.34%
• 6M: -2.45%
• 1Y: 2.42%
• 3Y*: 15.07%
• 5Y*: 10.11%
• 10Y*: 11.58%

JQUA

• 1D: 0.74%
• 1M: 3.68%
• YTD: 12.70%
• 6M: 12.14%
• 1Y: 22.21%
• 3Y*: 19.36%
• 5Y*: 13.40%
• 10Y*: —

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

KIE vs. JQUA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KIE SPDR S&P Insurance ETF	-2.34%	8.12%	26.95%	12.18%	3.48%	22.75%	-3.04%	27.19%	-5.99%	0.50%
JQUA JPMorgan U.S. Quality Factor ETF	12.70%	11.69%	21.21%	25.13%	-13.45%	28.68%	16.56%	28.47%	-2.98%	5.07%

Correlation

The correlation between KIE and JQUA is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (All Time) Calculated using the full available price history since Nov 9, 2017	0.62

Over the past year, the correlation between KIE and JQUA has dropped to 0.38 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.

KIE vs. JQUA - Sectors Allocation Comparison

Sectors	KIE	JQUA
Financial Services	96.9%	10.2%
Healthcare	3.1%	7.4%
Basic Materials	-	0.8%
Communication Services	-	5.5%
Consumer Cyclical	-	9.2%
Consumer Defensive	-	5.4%
Energy	-	3.3%
Industrials	-	7.7%
Real Estate	-	2.2%
Technology	-	41.6%
Utilities	-	2.1%

Return for Risk

KIE vs. JQUA — Risk / Return Rank

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

KIE

KIE Risk / Return Rank: 10
KIE Sharpe Ratio Rank: 11
KIE Sortino Ratio Rank: 10
KIE Omega Ratio Rank: 10
KIE Calmar Ratio Rank: 11
KIE Martin Ratio Rank: 11

JQUA

JQUA Risk / Return Rank: 62
JQUA Sharpe Ratio Rank: 60
JQUA Sortino Ratio Rank: 60
JQUA Omega Ratio Rank: 55
JQUA Calmar Ratio Rank: 65
JQUA Martin Ratio Rank: 73

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.

KIE vs. JQUA - Risk-Adjusted Trends Comparison

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

	KIE	JQUA	Difference
Sharpe ratio: Return per unit of total volatility	0.08	1.73	-1.66
Sortino ratio: Return per unit of downside risk	0.22	2.44	-2.22
Omega ratio: Gain probability vs. loss probability	1.03	1.30	-0.28
Calmar ratio: Return relative to maximum drawdown	0.11	2.87	-2.76
Martin ratio: Return relative to average drawdown	0.26	11.78	-11.52

KIE vs. JQUA - Sharpe Ratio Comparison

The current KIE Sharpe Ratio is 0.08, which is lower than the JQUA Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of KIE and JQUA, 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

KIE vs. JQUA - Drawdown Comparison

The maximum KIE drawdown since its inception was -75.30%, which is greater than JQUA's maximum drawdown of -32.92%. Use the drawdown chart below to compare losses from any high point for KIE and JQUA.

Drawdown Indicators

	KIE	JQUA	Difference
Max Drawdown Largest peak-to-trough decline	-75.30%	-32.92%	-42.38%
Max Drawdown (1Y) Largest decline over 1 year	-11.81%	-7.13%	-4.68%
Max Drawdown (3Y) Largest decline over 3 years	-12.65%	-16.81%	+4.16%
Max Drawdown (5Y) Largest decline over 5 years	-15.68%	-22.47%	+6.79%
Max Drawdown (10Y) Largest decline over 10 years	-44.31%	—	—
Current Drawdown Current decline from peak	-3.75%	-1.55%	-2.20%
Average Drawdown Average peak-to-trough decline	-12.03%	-4.15%	-7.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.90%	1.74%	+3.16%

Volatility

KIE vs. JQUA - Volatility Comparison

SPDR S&P Insurance ETF (KIE) has a higher volatility of 6.06% compared to JPMorgan U.S. Quality Factor ETF (JQUA) at 4.66%. This indicates that KIE's price experiences larger fluctuations and is considered to be riskier than JQUA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KIE	JQUA	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.06%	4.66%	+1.40%
Volatility (6M) Calculated over the trailing 6-month period	11.85%	9.08%	+2.77%
Volatility (1Y) Calculated over the trailing 1-year period	16.43%	11.79%	+4.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.44%	15.69%	+2.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.20%	18.00%	+3.20%

KIE vs. JQUA - Expense Ratio Comparison

KIE has a 0.35% expense ratio, which is higher than JQUA's 0.12% expense ratio.

Dividends

KIE vs. JQUA - Dividend Comparison

KIE's dividend yield for the trailing twelve months is around 1.59%, more than JQUA's 1.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JQUA JPMorgan U.S. Quality Factor ETF	1.09%	1.19%	1.24%	1.21%	1.60%	1.32%	1.44%	1.67%	2.10%	0.40%	0.00%	0.00%
KIE SPDR S&P Insurance ETF	1.59%	1.57%	1.48%	1.45%	1.90%	1.95%	1.85%	1.76%	1.83%	1.56%	1.55%	1.65%

Frequently Asked Questions

Can I hold both KIE and JQUA in my portfolio?

KIE and JQUA have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KIE or JQUA?

KIE has higher volatility (6.06%) compared to JQUA (4.66%). In terms of maximum drawdown, KIE dropped -75.30% vs JQUA's -32.92%.

Which ETF is better, KIE or JQUA?

On 5-year performance, JQUA leads with 13.40% vs 10.11% for KIE. On fees, JQUA is cheaper at 0.12% per year. On volatility, JQUA has been the lower-risk option at 4.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KIE or JQUA?

Over the 5-year period, JQUA has performed better with a 13.40% return vs 10.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KIE or JQUA?

JQUA is cheaper with a 0.12% expense ratio, compared with 0.35% for KIE.

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

KIE has the higher dividend yield at 1.59%, compared with 1.09% for JQUA.

What is the main difference between KIE and JQUA?

KIE is categorized as Financials Equities, while JQUA is Large Cap Blend Equities. KIE tracks S&P Insurance Select Industry Index, while JQUA tracks JP Morgan US Quality Factor Index. They also come from different issuers: State Street and JPMorgan. Their fees differ too: 0.35% for KIE and 0.12% for JQUA.

Which has better risk-adjusted returns?

JQUA currently has the higher Sharpe Ratio (1.73 vs 0.08), 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.