QUS vs. JQUA

Last updated Aug 2, 2026

QUS (SPDR MSCI USA StrategicFactors ETF) and JQUA (JPMorgan U.S. Quality Factor ETF) are both exchange-traded funds - QUS is a Large Cap Growth Equities fund tracking the MSCI USA Factor Mix A-Series Capped (USD), while JQUA is a Quality Factor fund tracking the JP Morgan US Quality Factor Index. Both are passively managed. Over the past 5 years, QUS returned 10.75%/yr vs 12.89%/yr for JQUA. Their correlation of 0.90 means they have usually moved in the same direction. QUS charges 0.15%/yr vs 0.12%/yr for JQUA.

Performance

QUS vs. JQUA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR MSCI USA StrategicFactors ETF (QUS) 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, QUS achieves a 9.32% return, which is significantly lower than JQUA's 14.93% return.

QUS

• 1D: 0.33%
• 1M: 0.45%
• 6M: 7.38%
• YTD: 9.32%
• 1Y: 18.81%
• 3Y*: 16.09%
• 5Y*: 10.75%
• 10Y*: 13.56%
• ALL TIME*: 12.68%

JQUA

• 1D: 0.08%
• 1M: 0.33%
• 6M: 13.64%
• YTD: 14.93%
• 1Y: 22.21%
• 3Y*: 18.11%
• 5Y*: 12.89%
• 10Y*: —
• ALL TIME*: 14.71%

*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)
JQUA JPMorgan U.S. Quality Factor ETF	$26.79M	$28.22M	$36.46M
QUS SPDR MSCI USA StrategicFactors ETF	$2.96M	$4.90M	$3.46M

QUS vs. JQUA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QUS SPDR MSCI USA StrategicFactors ETF	9.32%	14.13%	18.99%	21.78%	-14.15%	26.72%	12.40%	32.45%	-3.66%	4.05%
JQUA JPMorgan U.S. Quality Factor ETF	14.93%	11.69%	21.21%	25.13%	-13.45%	28.68%	16.56%	28.47%	-2.98%	5.07%

Correlation

The correlation between QUS and JQUA is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.96
Correlation (All Time) Calculated using the full available price history since Nov 9, 2017	0.90

The correlation between QUS and JQUA shifts across timeframes, from 0.85 (1 year) to 0.96 (5 years), reflecting how their relationship changes across market environments.

QUS vs. JQUA - Sectors Allocation Comparison

Sectors	QUS	JQUA
Technology	28.4%	41.0%
Financial Services	15.7%	12.0%
Healthcare	14.4%	8.8%
Consumer Defensive	8.3%	5.2%
Communication Services	8.2%	6.2%
Industrials	8.1%	8.9%
Consumer Cyclical	5.7%	9.5%
Utilities	3.9%	1.2%
Energy	3.3%	3.3%
Basic Materials	2.2%	1.7%
Real Estate	1.6%	2.2%

Return for Risk

QUS vs. JQUA — Risk / Return Rank

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

QUS

QUS Risk / Return Rank: 81
QUS Sharpe Ratio Rank: 83
QUS Sortino Ratio Rank: 83
QUS Omega Ratio Rank: 82
QUS Calmar Ratio Rank: 74
QUS Martin Ratio Rank: 84

JQUA

JQUA Risk / Return Rank: 79
JQUA Sharpe Ratio Rank: 77
JQUA Sortino Ratio Rank: 77
JQUA Omega Ratio Rank: 73
JQUA Calmar Ratio Rank: 81
JQUA Martin Ratio Rank: 86

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.

QUS vs. JQUA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI USA StrategicFactors ETF (QUS) 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.

	QUS	JQUA	Difference
Sharpe ratio: Return per unit of total volatility	1.93	1.75	+0.18
Sortino ratio: Return per unit of downside risk	2.73	2.48	+0.25
Omega ratio: Gain probability vs. loss probability	1.35	1.30	+0.04
Calmar ratio: Return relative to maximum drawdown	2.60	2.95	-0.35
Martin ratio: Return relative to average drawdown	11.58	12.05	-0.47

QUS vs. JQUA - Sharpe Ratio Comparison

The current QUS Sharpe Ratio is 1.93, which is comparable to the JQUA Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of QUS 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

QUS vs. JQUA - Drawdown Comparison

The maximum QUS drawdown since its inception was -33.78%, roughly equal to the maximum JQUA drawdown of -32.92%. Use the drawdown chart below to compare losses from any high point for QUS and JQUA.

Drawdown Indicators

	QUS	JQUA	Difference
Max Drawdown Largest peak-to-trough decline	-33.78%	-32.92%	-0.86%
Max Drawdown (1Y) Largest decline over 1 year	-6.85%	-7.13%	+0.28%
Max Drawdown (3Y) Largest decline over 3 years	-13.94%	-16.81%	+2.87%
Max Drawdown (5Y) Largest decline over 5 years	-22.30%	-22.47%	+0.17%
Max Drawdown (10Y) Largest decline over 10 years	-33.78%	—	—
Current Drawdown Current decline from peak	-0.26%	-0.36%	+0.10%
Average Drawdown Average peak-to-trough decline	-3.66%	-4.10%	+0.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.53%	1.74%	-0.21%

Volatility

QUS vs. JQUA - Volatility Comparison

SPDR MSCI USA StrategicFactors ETF (QUS) and JPMorgan U.S. Quality Factor ETF (JQUA) have volatilities of 2.37% and 2.34%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QUS	JQUA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.37%	2.34%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	6.94%	9.47%	-2.53%
Volatility (1Y) Calculated over the trailing 1-year period	9.24%	12.04%	-2.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.32%	15.72%	-1.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.39%	17.93%	-1.54%

QUS vs. JQUA - Expense Ratio Comparison

QUS has a 0.15% expense ratio, which is higher than JQUA's 0.12% 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

QUS vs. JQUA - Dividend Comparison

QUS's dividend yield for the trailing twelve months is around 1.28%, more than JQUA's 1.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JQUA JPMorgan U.S. Quality Factor ETF	1.08%	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	1.28%	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 QUS and JQUA in my portfolio?

QUS and JQUA have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QUS or JQUA?

QUS has higher volatility (2.37%) compared to JQUA (2.34%). In terms of maximum drawdown, QUS dropped -33.78% vs JQUA's -32.92%.

Which ETF is better, QUS or JQUA?

On 5-year performance, JQUA leads with 12.89% vs 10.75% for QUS. On fees, JQUA is cheaper at 0.12% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QUS or JQUA?

Over the 5-year period, JQUA has performed better with a 12.89% return vs 10.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QUS or JQUA?

JQUA is cheaper with a 0.12% expense ratio, compared with 0.15% for QUS.

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

QUS has the higher dividend yield at 1.28%, compared with 1.08% for JQUA.

What is the main difference between QUS and JQUA?

QUS is categorized as Large Cap Growth Equities, while JQUA is Quality Factor. QUS tracks MSCI USA Factor Mix A-Series Capped (USD), while JQUA tracks JP Morgan US Quality Factor Index. They also come from different issuers: State Street and JPMorgan. Their fees differ too: 0.15% for QUS and 0.12% for JQUA.

Which has better risk-adjusted returns?

QUS currently has the higher Sharpe Ratio (1.93 vs 1.75), 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.