ABFL vs JQUA: Grades, Fees and Holdings Compared

Abacus FCF Leaders ETF

ABFLCCboe

JPMorgan U.S. Quality Factor ETF

JQUAANYSE Arca

Overlap

22.3%by weight

Expense ratio

JQUA −0.37pt a year

ABFL0.49%JQUA0.12%

Avg volume · 30D

JQUA 23.5×the volume

ABFL25.4KJQUA598K

5Y return · a year

JQUA +3.7pt

ABFL+9.5%JQUA+13.2%

ABFL vs JQUA Performance

Oct 29, 2021 – Oct 30, 2026

+57.2%ABFL+85.7%JQUA

Expense ratio: ABFL 0.49%; JQUA 0.12%, better
Fund size: ABFL $466M; JQUA $9.55B
1Y total return: ABFL +10.5%; JQUA +21.8%, better
Yield (12M): ABFL 0.60%; JQUA 1.05%, better
Holdings: ABFL 56; JQUA 310
Avg volume (30D): ABFL 25.4K sh; JQUA 598K sh, better
NAV per share: ABFL $80.68; JQUA $75.49
52W range

ETF.net Grade

Pillar letters and Scores for ABFL, JQUA, with each pillar’s weight
Pillar	ABFL	JQUA
Cost30% weight	D26	A100Higher
Mission25% weight	B63	A79Higher
Risk15% weight	D38	A80Higher
Tradability15% weight	B61Higher	C54
Holdings10% weight	C54	A83Higher
Durability5% weight	C52	A75Higher

Rank among US Quality Index funds

How we build Categories ›

Same Category. ABFL and JQUA are both graded against the same 26 US Quality Index funds, so their Grades compare head to head.

US Quality Index⁠

Category · 26 funds

See all 26 ›

JQUA ranks 1st and ABFL 19th of 26 funds in the US Quality Index Category.

Rank 1AJQUAJPMorgan U.S. Quality Factor ETFScore 81
Rank 1AQUALiShares MSCI USA Quality Factor ETFScore 81
Rank 17CSFLOVictoryShares Small Cap Free Cash Flow ETFScore 49
Rank 19CABFLAbacus FCF Leaders ETFScore 46
Rank 20CFTCEFirst Trust New Constructs Core Earnings Leaders ETFScore 43

Our read on each fund

ETF.net Research

ABFLCAbacus FCF Leaders ETF

JQUAAJPMorgan U.S. Quality Factor ETF

In short

ABFL One of the original free-cash-flow ETFs, trading since 2016 under three different names and one unchanged idea: rank US large and mid caps by cash generated per dollar of invested capital, then own the leaders.

JQUA Quality investing without the quality price tag. JQUA screens U.S. companies for profitability and strong balance-sheet traits, and charges 0.12%, the lowest fee in the quality-factor group we track.

Stated mandate

ABFL The SEC identifies ABFL as the renamed FCF US Quality ETF and states that the December 2024 name and ticker changes did not alter the Fund’s investment objective or principal investment strategies.

JQUA JQUA is designed to provide domestic equity exposure focused on companies with strong quality and profitability characteristics, using a rules-based approach intended to enhance returns.

Why people hold it

ABFL Live since 2016, long before free cash flow became a crowded ETF theme. The December 2024 rename to Abacus changed the label, not the objective or the strategy.
0.49% a year sits below the typical fund in its quality-focused peer group, which is unusual for an active, hand-built portfolio rather than a plain index tracker.abacusfcf.com
The screen is free cash flow return on invested capital: cash left after the bills, per dollar of capital deployed. Harder to dress up than reported earnings.abacusfcf.com
One of the strongest overall showings in its US quality and moat cohort, ahead of peers like EQTY and ABIG.

JQUA 0.12% a year, against a roughly 0.29% median for quality-factor funds, and it undercuts the bigger badges QUAL and FQAL at 0.15%.
About 300 U.S. names selected on quality and profitability: a broad core-shaped sleeve, not a concentrated wager on a dozen balance sheets.
Live since 2017 and now a multi-billion-dollar, actively traded fund, so it has both a real track record and daily two-way flow.
One of the stronger implementations in its peer group: it stays close to the JP Morgan US Quality Factor Index it follows while keeping costs at the bottom of the group.

Worth knowing

ABFL Thinly traded next to big index funds, so bid-ask spreads can widen and larger orders may move the price.
Cheaper quality exposure exists in the group: PSET charges 0.15%. Here you are paying for an active cash-flow screen.
Active and concentrated, so it can drift a long way from the Russell 3000 in either direction. Distributions come quarterly.

JQUA A quality screen is a tilt, not a shield. Owning profitable companies means owning less of everything else, and that gap cuts both ways.
Trades actively, though it is not the most heavily traded fund on the quality-factor shelf, which matters more for large orders than small ones.
Distributions land quarterly and fall out of what the screen owns. Income is a byproduct here, not the mandate.

Full ABFL profile⁠

Full JQUA profile⁠

ABFL vs JQUA Holdings

How ABFL and JQUA differ

Overlap by weight

22.3%

Shared holdings make up 81.0% of ABFL and 22.3% of JQUA.

Level by level

Holdings41 in both22.3%
Sector11 Sectors79.2%
Asset classEquity100%
Countryby domicile99.5%

Sector

Sector weights in ABFL and JQUA, widest gap first
Sector	More in ABFLMore in JQUA	ABFL	JQUA
Health Care	ABFL +10.7 points	19.7%	9.0%
Financials	JQUA +8.2 points	4.9%	13.1%
Industrials	ABFL +7.7 points	14.8%	7.1%
Consumer Discretionary	JQUA +3.7 points	5.2%	8.9%
Technology	JQUA +3.6 points	38.0%	41.6%
Real Estate	JQUA +2.2 points	0.0%	2.2%
Materials	ABFL +1.6 points	3.5%	1.9%
Consumer Staples	JQUA +1.2 points	4.3%	5.5%
Utilities	JQUA +1.1 points	0.0%	1.1%
Communication	JQUA +0.9 points	4.6%	5.5%
Energy	ABFL +0.9 points	5.0%	4.1%

Country, concentration and asset class

Country by domicile

Country weights in ABFL and JQUA, widest gap first
Country	More in ABFLMore in JQUA	ABFL	JQUA
United States	ABFL +0.5 points	100.0%	99.5%
Switzerland	JQUA +0.5 points	0.0%	0.5%

Concentration

Weight in the 10 largest Holdings

ABFL35.4%
JQUA18.7%

Securities held

ABFL55
JQUA308

Asset class

ABFL: Equity
JQUA: Equity

Holdings

Only in ABFL14
In both41
Only in JQUA267

Only in ABFL

14 securities, 18.9% of ABFL by weight

Eli Lilly & Co3.56%
Cheniere Energy Partners LP2.56%
Arista Networks Inc2.50%
Argan Inc1.29%
Seagate Technology Holdings PLC1.25%
Tutor Perini Corp1.20%
Nextpower Inc1.14%
Cardinal Health Inc1.01%
AZZ Inc0.94%
Sterling Infrastructure Inc0.91%
Powell Industries Inc0.86%
Uber Technologies Inc0.83%
Hess Midstream LP0.51%
Us Bank Mmda - Usbgfs 9 09/01/20370.38%

Only in JQUA

267 securities, 77.7% of JQUA by weight

Microsoft Corp Common2.06%
Exxonmobil Holdings Corp2.01%
Advanced Micro Devices1.83%
Broadcom Inc Common1.80%
Meta Platforms Inc Common1.76%
Berkshire Hathaway Inc1.73%
Micron Technology Inc1.72%
Johnson & Johnson Common1.61%
Alphabet Inc-Cl A -1.47%
Costco Wholesale Corp1.27%
Palantir Technologies Inc1.23%
Cisco Systems Inc Common1.17%
The Procter & Gamble1.05%
Home Depot Inc/The0.95%
Texas Instruments Inc0.91%
Crowdstrike Holdings Inc0.86%
Applied Materials Inc0.79%
Chevron Corp Common Stock0.78%
Linde PLC Common Stock0.75%
Analog Devices Inc0.74%
Union Pacific Corp0.65%
BlackRock Inc Common0.63%
Salesforce.com Inc.0.63%
Mcdonald's Corp Common0.59%
Accenture PLC Common0.59%
Tjx Cos Inc/The Common0.55%
Chubb Ltd Common Stock0.47%
Western Digital Corp0.47%
Marsh & Mclennan Cos Inc0.46%
Conocophillips Common0.45%
Snowflake Inc Common0.44%
Adobe Inc Common Stock0.43%
Intuit Inc Common Stock0.43%
Automatic Data Processing0.43%
Cadence Design Systems0.43%
Starbucks Corp Common0.42%
Waste Management Inc0.41%
Progressive Corp/The0.41%
Datadog Inc Common Stock0.41%
Skyworks Solutions Inc0.41%
S&P Global Inc Common0.41%
Travelers Cos Inc/The0.41%
Servicenow Inc Common0.41%
Marriott International0.40%
Fortinet Inc Common Stock0.38%
Monster Beverage Corp0.37%
Aon PLC Common Stock USD0.36%
Moody's Corp Common0.36%
Cme Group Inc Common0.36%
Illinois Tool Works Inc0.36%

Weight gaps

All 41 Holdings in both funds, largest gap first.

Holding weights in ABFL and JQUA, widest gap first
Holding	More in ABFLMore in JQUA	ABFL	JQUA
Apple IncAAPL	ABFL +3.73 points	5.85%	2.12%
NVIDIA CorpNVDA	ABFL +3.14 points	4.89%	1.75%
GE Vernova IncGEV	ABFL +2.91 points	3.62%	0.71%
Gilead Sciences IncGILD	ABFL +2.50 points	3.25%	0.75%
Bristol-Myers Squibb CoBMY	ABFL +2.28 points	2.73%	0.45%
Vertiv Holdings CoVRT	ABFL +2.07 points	2.22%	0.15%
Altria Group IncMO	ABFL +2.06 points	2.61%	0.55%
AbbVie IncABBV	ABFL +1.93 points	3.33%	1.40%
TechnipFMC PLCFTI	ABFL +1.81 points	2.01%	0.20%
NetApp IncNTAP	ABFL +1.79 points	2.10%	0.31%
F5 IncFFIV	ABFL +1.76 points	1.98%	0.22%
Palo Alto Networks IncPANW	ABFL +1.64 points	2.59%	0.95%
Lockheed Martin CorpLMT	ABFL +1.61 points	2.11%	0.50%
Exelixis IncEXEL	ABFL +1.58 points	1.73%	0.15%
Kla CorpKLAC	ABFL +1.57 points	2.25%	0.68%
Tapestry IncTPR	ABFL +1.56 points	1.80%	0.24%
Mastercard IncMA	ABFL +1.46 points	2.96%	1.50%
Medpace Holdings IncMEDP	ABFL +1.45 points	1.66%	0.21%
Booking Holdings IncBKNG	ABFL +1.44 points	1.81%	0.37%
Lam Research CorpLRCX	ABFL +1.44 points	2.24%	0.80%
VeriSign IncVRSN	ABFL +1.40 points	1.67%	0.27%
Netflix IncNFLX	ABFL +1.37 points	1.45%	0.08%
Expedia Group IncEXPE	ABFL +1.29 points	1.53%	0.24%
Broadridge Financial Solutions IncBR	ABFL +1.22 points	1.39%	0.17%
EMCOR Group IncEME	ABFL +1.15 points	1.17%	0.02%
Newmont CorpNEM	ABFL +1.06 points	1.22%	0.16%
Autodesk IncADSK	ABFL +1.04 points	1.40%	0.36%
Sandisk CorpSNDK	ABFL +1.04 points	1.59%	0.55%
Amgen IncAMGN	ABFL +1.01 points	1.26%	0.25%
Southern Copper CorpSCCO	ABFL +0.99 points	1.20%	0.21%
New York Times Co/TheNYT	ABFL +0.88 points	1.04%	0.16%
CF Industries Holdings IncCF	ABFL +0.78 points	1.01%	0.23%
Merck & Co IncMRK	ABFL +0.77 points	1.88%	1.11%
Visa IncV	ABFL +0.73 points	2.64%	1.91%
Chemed CorpCHE	ABFL +0.70 points	0.87%	0.17%
Colgate-Palmolive CoCL	ABFL +0.68 points	1.08%	0.40%
AppLovin CorpAPP	ABFL +0.66 points	0.94%	0.28%
Spotify Technology SASPOT	ABFL +0.64 points	0.97%	0.33%
Philip Morris International IncPM	ABFL +0.62 points	1.10%	0.48%
Gen Digital IncGEN	ABFL +0.58 points	0.81%	0.23%
QUALCOMM IncQCOM	ABFL +0.42 points	1.05%	0.63%

All ABFL holdings⁠All 308 JQUA holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ABFL vs JQUA Cost

Overpaying ABFL vs JQUA

$7,272

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

ABFL 0.49%
$9,792
JQUA 0.12%
$2,520

Amount$10,000

Years30 years

Cost over time

ABFL 0.49%
JQUA 0.12%
Overpaying

Year by year

Year	ABFL	JQUA	Overpaying
10	$883	$220	$663
20	$3,394	$859	$2,535
30	$9,792	$2,520	$7,272

Expense ratio

0.49%ABFL
0.12%JQUA, cheaper

JQUA0.12%ABFL0.49%

0.12%0.60%

Middle half of US Quality Index funds
Median 0.39%

JQUA cheapest of 26 funds

ABFL 17th cheapest of 26 funds

ABFL vs JQUA Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ABFL 0.60%; JQUA 1.05%, better
Payout (12M): ABFL $0.48; JQUA $0.79
Last payment: ABFL $0.11; JQUA $0.18
Ex-dividend: ABFL Sep 29, 2026; JQUA Sep 22, 2026
Paid on: ABFL Sep 30, 2026; JQUA Sep 24, 2026
Frequency: ABFL Quarterly; JQUA Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

ABFLQuarterly · 21 paymentsAll ABFL payments⁠

JQUAQuarterly · 37 paymentsAll JQUA payments⁠

ABFL vs JQUA Risk

Fall from peak · 5 years

ABFL
JQUA

Risk facts

VolatilityStd dev, 3 years: ABFL 13.1%JQUA 11.6%, better
Return per unit of riskSharpe ratio, 3 years: ABFL 0.96JQUA 1.47, better
Worst fallMax drawdown, 5 years: ABFL −21.9%, betterJQUA −22.5%
Market sensitivityBeta, 5 years: ABFL 0.89JQUA 0.91; Market = 1

ABFL and JQUA in the news

All news⁠

New ETFs
Jensen's first passive ETF charges 0.25% for a 10-year profit test
Oct 5, 2026JQUA
Category Review
Cash-flow quality returned 42% while QUAL returned 17%
Updated Sep 22, 2026JQUA

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ABFL vs JQUA

In short

Stated mandate

Why people hold it

Worth knowing

How ABFL and JQUA differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ABFL

Only in JQUA

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Jensen's first passive ETF charges 0.25% for a 10-year profit test

Cash-flow quality returned 42% while QUAL returned 17%

How ABFL and JQUA differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ABFL

Only in JQUA

Weight gaps