USPX vs. BBUS

Last updated Jun 23, 2026

USPX (Franklin U.S. Equity Index ETF) and BBUS (JPMorgan BetaBuilders U.S. Equity ETF) are both Large Cap Blend Equities funds tracking the Morningstar US Target Market Exposure Index, from Franklin Templeton and JPMorgan respectively. Both are passively managed. Over the past 5 years, USPX returned 12.36%/yr vs 13.03%/yr for BBUS. Their correlation of 0.94 suggests significant overlap in exposure. USPX charges 0.03%/yr vs 0.02%/yr for BBUS.

Performance

USPX vs. BBUS - Performance Comparison

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

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with USPX at 9.41% and BBUS at 9.41%.

USPX

• 1D: -0.43%
• 1M: 0.12%
• YTD: 9.41%
• 6M: 8.81%
• 1Y: 26.07%
• 3Y*: 21.27%
• 5Y*: 12.36%
• 10Y*: 12.76%

BBUS

• 1D: -0.31%
• 1M: 0.15%
• YTD: 9.41%
• 6M: 8.89%
• 1Y: 26.13%
• 3Y*: 21.38%
• 5Y*: 13.03%
• 10Y*: —

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

USPX vs. BBUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
USPX Franklin U.S. Equity Index ETF	9.41%	17.78%	24.97%	27.07%	-18.88%	19.53%	9.72%	14.27%
BBUS JPMorgan BetaBuilders U.S. Equity ETF	9.41%	17.77%	24.89%	27.20%	-19.46%	27.13%	20.69%	16.26%

Correlation

The correlation between USPX and BBUS is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Mar 13, 2019	0.94

The correlation between USPX and BBUS has been stable across timeframes, ranging from 0.94 to 0.99 - a consistent structural relationship.

USPX vs. BBUS - Sectors Allocation Comparison

Sectors	USPX	BBUS
Technology	37.7%	38.1%
Financial Services	11.6%	11.2%
Communication Services	10.3%	10.0%
Consumer Cyclical	9.5%	9.1%
Healthcare	8.8%	8.0%
Industrials	8.0%	7.4%
Consumer Defensive	4.6%	4.4%
Energy	3.3%	3.0%
Utilities	2.5%	2.6%
Real Estate	1.8%	1.7%
Basic Materials	1.7%	1.2%

Return for Risk

USPX vs. BBUS — Risk / Return Rank

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

USPX

USPX Risk / Return Rank: 64
USPX Sharpe Ratio Rank: 65
USPX Sortino Ratio Rank: 62
USPX Omega Ratio Rank: 63
USPX Calmar Ratio Rank: 59
USPX Martin Ratio Rank: 70

BBUS

BBUS Risk / Return Rank: 65
BBUS Sharpe Ratio Rank: 67
BBUS Sortino Ratio Rank: 63
BBUS Omega Ratio Rank: 66
BBUS Calmar Ratio Rank: 59
BBUS Martin Ratio Rank: 70

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.

USPX vs. BBUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin U.S. Equity Index ETF (USPX) and JPMorgan BetaBuilders U.S. Equity ETF (BBUS). 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.

	USPX	BBUS	Difference
Sharpe ratio: Return per unit of total volatility	2.07	2.11	-0.04
Sortino ratio: Return per unit of downside risk	2.81	2.85	-0.04
Omega ratio: Gain probability vs. loss probability	1.37	1.38	-0.01
Calmar ratio: Return relative to maximum drawdown	2.86	2.85	+0.01
Martin ratio: Return relative to average drawdown	12.63	12.65	-0.03

USPX vs. BBUS - Sharpe Ratio Comparison

The current USPX Sharpe Ratio is 2.07, which is comparable to the BBUS Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of USPX and BBUS, 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

USPX vs. BBUS - Drawdown Comparison

The maximum USPX drawdown since its inception was -31.21%, smaller than the maximum BBUS drawdown of -35.35%. Use the drawdown chart below to compare losses from any high point for USPX and BBUS.

Drawdown Indicators

	USPX	BBUS	Difference
Max Drawdown Largest peak-to-trough decline	-31.21%	-35.35%	+4.14%
Max Drawdown (1Y) Largest decline over 1 year	-9.15%	-9.21%	+0.06%
Max Drawdown (3Y) Largest decline over 3 years	-19.21%	-19.01%	-0.20%
Max Drawdown (5Y) Largest decline over 5 years	-24.60%	-25.46%	+0.86%
Max Drawdown (10Y) Largest decline over 10 years	-31.21%	—	—
Current Drawdown Current decline from peak	-1.85%	-1.82%	-0.03%
Average Drawdown Average peak-to-trough decline	-4.43%	-5.43%	+1.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	2.07%	0.00%

Volatility

USPX vs. BBUS - Volatility Comparison

Franklin U.S. Equity Index ETF (USPX) and JPMorgan BetaBuilders U.S. Equity ETF (BBUS) have volatilities of 4.69% and 4.70%, 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

	USPX	BBUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.69%	4.70%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	10.00%	9.81%	+0.19%
Volatility (1Y) Calculated over the trailing 1-year period	12.68%	12.49%	+0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.27%	17.12%	-0.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.96%	19.59%	-3.63%

USPX vs. BBUS - Expense Ratio Comparison

USPX has a 0.03% expense ratio, which is higher than BBUS's 0.02% 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

USPX vs. BBUS - Dividend Comparison

USPX's dividend yield for the trailing twelve months is around 0.82%, less than BBUS's 0.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BBUS JPMorgan BetaBuilders U.S. Equity ETF	0.99%	1.07%	1.21%	1.38%	1.57%	1.11%	1.43%	1.37%	0.00%	0.00%	0.00%
USPX Franklin U.S. Equity Index ETF	0.82%	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 USPX and BBUS in my portfolio?

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

BBUS has higher volatility (4.70%) compared to USPX (4.69%). In terms of maximum drawdown, USPX dropped -31.21% vs BBUS's -35.35%.

Which ETF is better, USPX or BBUS?

On 5-year performance, BBUS leads with 13.03% vs 12.36% for USPX. On fees, BBUS is cheaper at 0.02% 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, USPX or BBUS?

Over the 5-year period, BBUS has performed better with a 13.03% return vs 12.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USPX or BBUS?

BBUS is cheaper with a 0.02% expense ratio, compared with 0.03% for USPX.

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

BBUS has the higher dividend yield at 0.99%, compared with 0.82% for USPX.

What is the main difference between USPX and BBUS?

Both ETFs track Morningstar US Target Market Exposure Index. They also come from different issuers: Franklin Templeton and JPMorgan. Their fees differ too: 0.03% for USPX and 0.02% for BBUS.

Which has better risk-adjusted returns?

BBUS currently has the higher Sharpe Ratio (2.11 vs 2.07), 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.