AFGR vs JUSA: Grades, Fees and Holdings Compared

First Trust Active Factor Large Cap Growth ETF

AFGRCNYSE Arca

JPMorgan U.S. Research Enhanced Large Cap ETF

JUSAANYSE Arca

Overlap

44.6%by weight

Expense ratio

JUSA −0.47pt a year

AFGR0.65%JUSA0.18%

Avg volume · 30D

JUSA 14.1×the volume

AFGR6.99KJUSA98.8K

AFGR vs JUSA Performance

Jul 31, 2026 – Oct 30, 2026

−2.2%AFGR+0.5%JUSA

Expense ratio: AFGR 0.65%; JUSA 0.18%, better
Fund size: AFGR $86M; JUSA $745M
1Y total return: AFGR No data; JUSA +10.8%
Yield (12M): AFGR 0.01%; JUSA 0.72%, better
Holdings: AFGR 91; JUSA 263
Avg volume (30D): AFGR 6.99K sh; JUSA 98.8K sh, better
NAV per share: AFGR $35.69; JUSA $67.75
52W range

ETF.net Grade

Pillar letters and Scores for AFGR, JUSA, with each pillar’s weight
Pillar	AFGR	JUSA
Cost30% weight	D26	A99Higher
Mission25% weight	Not scored	A84
Risk15% weight	B66	A92Higher
Tradability15% weight	C44	B58Higher
Holdings10% weight	A77	A84Higher
Durability5% weight	A71	A76Higher

Rank among US Active Growth funds

How we build Categories ›

Same Category. AFGR and JUSA are both graded against the same 90 US Active Growth funds, so their Grades compare head to head.

US Active Growth⁠

Category · 90 funds

See all 90 ›

JUSA ranks 1st and AFGR 48th of 90 funds in the US Active Growth Category.

Rank 1AJUSAJPMorgan U.S. Research Enhanced Large Cap ETFScore 86
Rank 2AGUSEGoldman Sachs Enhanced U.S. Equity ETFScore 84
Rank 44CRJCARJ ClariVest Capital Appreciation ETFScore 48
Rank 48CAFGRFirst Trust Active Factor Large Cap Growth ETFScore 47
Rank 48CCARKCastleArk Large Growth ETFScore 47

Our read on each fund

ETF.net Research

AFGRCFirst Trust Active Factor Large Cap Growth ETF

JUSAAJPMorgan U.S. Research Enhanced Large Cap ETF

In short

AFGR An active quant screen aimed at large-cap growth: names are ranked on growth, momentum and quality, landing on roughly 90 stocks. Rules-driven stock picking rather than a star manager's convictions.

JUSA Active stock picking in index clothing: J.P. Morgan analysts tilt roughly 300 large caps while sector weights and risk stay close to the S&P 500, for 0.18% a year with no waiver attached.

Stated mandate

AFGR The Fund seeks long-term capital appreciation and normally invests at least 80% of its assets in equity securities of large-capitalization growth companies.

JUSA The fund seeks capital appreciation through active, fundamental, bottom-up selection of large-cap U.S. equities. It targets companies with strong long-term earnings potential and attractive valuations relative to peers.

Why people hold it

AFGR Three factors do the choosing: growth, momentum and quality, applied systematically. No value screen, no low-volatility damper, so the growth tilt stays a growth tilt.ftportfolios.com
Concentrated on purpose at roughly 90 US large caps, tight enough that individual picks register, wide enough that one blowup is not the whole story.
Running since 2020 with a clear contract: at least 80% of assets in large-cap growth equities, all under standard 1940 Act fund rules.
On portfolio construction and risk measures it lands in the upper half of a crowded active large-growth field of about 90 funds.

JUSA 0.18% a year with no waiver propping it up, below its category median. GUSE charges 0.30% and LRGC 0.39% for similar enhanced-index work; FELG ties it at 0.18%.
Active where it counts, plain where it doesn't: bottom-up stock picks across roughly 300 large caps, with sector mix and risk profile kept close to the S&P 500.jpmorgan.com
Stands among the strongest implementations in a 90-fund peer group of active large-cap funds, helped by a low fee and tightly managed risk.

Worth knowing

AFGR At 0.65% a year it sits above the 0.55% peer median, and the top-graded enhanced-index rivals undercut it hard: JUSA at 0.12%, FELG at 0.18%.
Thinly traded with a modest asset base, so part of the real cost can show up in the bid-ask spread rather than the expense ratio.
Built for capital appreciation, not cash flow: it has not been making regular distributions, so income is not part of the package.

JUSA Launched in March 2025, so there is only a short live record on this ticker to judge.
Moderately traded rather than a volume monster, so spreads can run wider than the giant index funds', especially in fast markets.
Tracking the S&P 500's sector weights limits how far results can stray from the benchmark in either direction. This is a nudge on the index, not a different bet.jpmorgan.com

Full AFGR profile⁠

Full JUSA profile⁠

AFGR vs JUSA Holdings

How AFGR and JUSA differ

Overlap by weight

44.6%

Shared holdings make up 78.3% of AFGR and 53.2% of JUSA.

Level by level

Holdings58 in both44.6%
Asset classEquity100%
Countryby domicile99.5%

Sector

No Sector split for AFGR.

Country, concentration and asset class

Country by domicile

Country weights in AFGR and JUSA, widest gap first
Country	More in AFGRMore in JUSA	AFGR	JUSA
United States	JUSA +0.3 points	99.5%	99.9%
United Kingdom	AFGR +0.5 points	0.5%	0.0%
Switzerland	JUSA +0.1 points	0.0%	0.1%
China	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

AFGR45.9%
JUSA37.8%

Securities held

AFGR90
JUSA261

Asset class

AFGR: Equity
JUSA: Equity

Holdings

Only in AFGR32
In both58
Only in JUSA203

Only in AFGR

32 securities, 21.5% of AFGR by weight

Spotify Technology S.A.1.94%
NetApp, Inc.1.47%
Cintas Corporation1.31%
Cloudflare, Inc. (Class A)1.21%
Nasdaq, Inc.1.20%
W.W. Grainger, Inc.1.12%
Colgate-Palmolive Company1.08%
Fastenal Company1.06%
Adobe Incorporated0.92%
Automatic Data Processing, Inc.0.82%
Samsara Inc. (Class A)0.81%
Carvana Co. (Class A)0.74%
Natera, Inc.0.64%
Rollins, Inc.0.61%
Valero Energy Corporation0.60%
The TJX Companies, Inc.0.58%
MSCI Inc.0.58%
SharkNinja Inc.0.57%
Exelixis, Inc.0.56%
Analog Devices, Inc.0.54%
Keysight Technologies, Inc.0.50%
Northern Trust Corporation0.47%
MACOM Technology Solutions Holdings, Inc.0.44%
nVent Electric plc0.42%
Guardant Health, Inc.0.36%
MongoDB, Inc.0.18%
Moody's Corporation0.17%
Teradyne, Inc.0.16%
PTC Inc.0.16%
FTAI Aviation Ltd.0.12%
Ubiquiti Inc.0.09%
Monolithic Power Systems, Inc.0.09%

Only in JUSA

203 securities, 46.5% of JUSA by weight

Alphabet Inc-Cl C -1.93%
Exxonmobil Holdings Corp1.45%
AbbVie Inc Common Stock1.15%
JPMorgan Prime Money0.95%
Rtx Corp0.93%
Wells Fargo & Co Common0.77%
Philip Morris0.75%
Citigroup Inc Common0.70%
Conocophillips Common0.69%
UnitedHealth Group Inc0.67%
Bank of America Corp0.66%
Lowe's Cos Inc Common0.65%
Nextera Energy Inc0.64%
Pepsico Inc Common Stock0.64%
3M Co Common Stock USD0.62%
Costco Wholesale Corp0.61%
Eog Resources Inc Common0.60%
Us Bancorp Common Stock0.59%
Trane Technologies PLC0.57%
Charles Schwab Corp/The0.56%
The Southern Company0.55%
Walmart Inc Common Stock0.52%
Texas Instruments Inc0.50%
Bristol-Myers Squibb Co0.50%
Accenture PLC Common0.48%
AT&T Inc Common Stock USD0.48%
Mcdonald's Corp Common0.47%
Mondelez International0.47%
Intel Corp Common Stock0.46%
Aon PLC Common Stock USD0.45%
Thermo Fisher Scientific0.45%
Regeneron Pharmaceuticals0.44%
Morgan Stanley Dean0.43%
Booking Holdings Inc0.42%
Equinix Inc Reit USD0.42%
The Walt Disney Company0.42%
Fifth Third Bancorp0.41%
Ecolab Inc Common Stock0.41%
Keurig Dr Pepper Inc0.41%
Arthur J Gallagher & Co0.40%
Stryker Corp Common Stock0.39%
Eaton Corp PLC Common0.39%
Capital One Financial0.39%
Nxp Semiconductors NV0.38%
Vertex Pharmaceuticals0.36%
Crowdstrike Holdings Inc0.36%
Chipotle Mexican Grill0.36%
Sempra Common Stock USD0.35%
Vertiv Holdings Co0.34%
Medtronic PLC Common0.34%

Weight gaps

All 58 Holdings in both funds, largest gap first.

Holding weights in AFGR and JUSA, widest gap first
Holding	More in AFGRMore in JUSA	AFGR	JUSA
Alphabet Inc. (Class A)GOOGL	AFGR +6.86 points	9.39%	2.53%
Apple Inc.AAPL	JUSA +2.95 points	4.36%	7.31%
NVIDIA CorporationNVDA	AFGR +2.60 points	10.46%	7.86%
Microsoft CorporationMSFT	JUSA +2.09 points	4.27%	6.36%
Palo Alto Networks, Inc.PANW	AFGR +1.62 points	1.93%	0.31%
Cisco Systems, Inc.CSCO	AFGR +1.35 points	1.57%	0.22%
Micron Technology, Inc.MU	AFGR +1.32 points	2.89%	1.57%
Tesla, Inc.TSLA	JUSA +1.31 points	0.11%	1.42%
Visa Inc. (Class A)V	AFGR +1.24 points	2.42%	1.18%
Mastercard IncorporatedMA	AFGR +1.07 points	2.34%	1.27%
Berkshire Hathaway Inc. (Class B)BRK.B	JUSA +1.04 points	0.31%	1.35%
Applied Materials, Inc.AMAT	AFGR +1.00 points	1.46%	0.46%
Cboe Global Markets, Inc.CBOE	AFGR +0.98 points	1.03%	0.05%
The Progressive CorporationPGR	AFGR +0.90 points	1.24%	0.34%
Autodesk, Inc.ADSK	AFGR +0.88 points	1.01%	0.13%
Fortinet, Inc.FTNT	AFGR +0.84 points	1.02%	0.18%
Ross Stores, Inc.ROST	AFGR +0.79 points	1.11%	0.32%
Advanced Micro Devices, Inc.AMD	AFGR +0.77 points	1.99%	1.22%
Cadence Design Systems, Inc.CDNS	AFGR +0.75 points	0.93%	0.18%
Welltower Inc.WELL	AFGR +0.72 points	0.80%	0.08%
Sandisk CorporationSNDK	AFGR +0.71 points	0.93%	0.22%
Datadog, Inc. (Class A)DDOG	AFGR +0.66 points	0.79%	0.13%
Caterpillar Inc.CAT	AFGR +0.65 points	0.81%	0.16%
Arista Networks, Inc.ANET	AFGR +0.65 points	0.92%	0.27%
Meta Platforms, Inc. (Class A)META	AFGR +0.59 points	2.75%	2.16%
KLA CorporationKLAC	AFGR +0.56 points	0.67%	0.11%
Lam Research CorporationLRCX	AFGR +0.51 points	1.35%	0.84%
Targa Resources Corp.TRGP	AFGR +0.48 points	0.58%	0.10%
Broadcom Inc.AVGO	AFGR +0.47 points	3.01%	2.54%
Quanta Services, Inc.PWR	AFGR +0.46 points	0.61%	0.15%
Ameriprise Financial, Inc.AMP	AFGR +0.45 points	0.46%	0.01%
Netflix, Inc.NFLX	AFGR +0.44 points	0.83%	0.39%
Jabil Inc.JBL	AFGR +0.40 points	0.46%	0.06%
Palantir Technologies Inc. (Class A)PLTR	AFGR +0.38 points	0.95%	0.57%
Comfort Systems USA, Inc.FIX	AFGR +0.37 points	0.45%	0.08%
Applovin Corp. (Class A)APP	AFGR +0.35 points	0.39%	0.04%
Eli Lilly and CompanyLLY	AFGR +0.30 points	1.84%	1.54%
Expedia Group, Inc.EXPE	AFGR +0.30 points	0.41%	0.11%
Seagate Technology Holdings PlcSTX	AFGR +0.28 points	0.73%	0.45%
Cummins Inc.CMI	JUSA +0.27 points	0.08%	0.35%
Howmet Aerospace Inc.HWM	JUSA +0.26 points	0.20%	0.46%
Twilio Inc. (Class A)TWLO	AFGR +0.23 points	0.31%	0.08%
Western Digital CorporationWDC	JUSA +0.20 points	0.20%	0.40%
Snowflake Inc. (Class A)SNOW	AFGR +0.19 points	0.33%	0.14%
Intuitive Surgical, Inc.ISRG	JUSA +0.17 points	0.09%	0.26%
Johnson & JohnsonJNJ	JUSA +0.15 points	1.17%	1.32%
EMCOR Group, Inc.EME	AFGR +0.15 points	0.19%	0.04%
Newmont CorporationNEM	AFGR +0.12 points	0.30%	0.18%
GE Vernova Inc.GEV	JUSA +0.11 points	0.17%	0.28%
DexCom, Inc.DXCM	AFGR +0.10 points	0.16%	0.06%
Dell Technologies Inc. (Class C)DELL	AFGR +0.07 points	0.27%	0.20%
Oracle CorporationORCL	JUSA +0.06 points	0.21%	0.27%
Amazon.com, Inc.AMZN	AFGR +0.07 points	4.02%	3.95%
Tapestry, Inc.TPR	AFGR +0.05 points	0.09%	0.04%
Interactive Brokers Group, Inc. (Class A)IBKR	AFGR +0.04 points	0.09%	0.05%
Intuit Inc.INTU	JUSA +0.03 points	0.11%	0.14%
Hilton Worldwide Holdings Inc.HLT	AFGR +0.03 points	0.24%	0.21%
Amphenol CorporationAPH	JUSA +0.02 points	0.53%	0.55%

All 90 AFGR holdings⁠All 261 JUSA 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.

AFGR vs JUSA Cost

Overpaying AFGR vs JUSA

$8,968

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

AFGR 0.65%
$12,717
JUSA 0.18%
$3,749

Amount$10,000

Years30 years

Cost over time

AFGR 0.65%
JUSA 0.18%
Overpaying

Year by year

Year	AFGR	JUSA	Overpaying
10	$1,163	$328	$835
20	$4,440	$1,281	$3,159
30	$12,717	$3,749	$8,968

Expense ratio

0.65%AFGR
0.18%JUSA, cheaper

JUSA0.18%AFGR0.65%

0.18%2.83%

Middle half of US Active Growth funds
Median 0.55%

JUSA cheapest of 90 funds

AFGR 65th cheapest of 90 funds

AFGR vs JUSA Dividends

Last 12 months to Oct 30, 2026

Yield (12M): AFGR 0.01%; JUSA 0.72%, better
Payout (12M): AFGR $0.0052; JUSA $0.49
Last payment: AFGR $0.0052; JUSA $0.13
Ex-dividend: AFGR Sep 24, 2026; JUSA Sep 22, 2026
Paid on: AFGR Sep 30, 2026; JUSA Sep 24, 2026
Frequency: AFGR Irregular; JUSA Quarterly

Distribution history

Per share, 2020 to 2026, same scale for both

AFGRIrregular · 2 paymentsAll AFGR payments⁠

JUSAQuarterly · 6 paymentsAll JUSA payments⁠

AFGR vs JUSA Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: AFGR No dataJUSA 11.6%since Apr 2025
Return per unit of riskSharpe ratio, 3 years: AFGR No dataJUSA 1.41since Apr 2025
Worst fallMax drawdown, 5 years: AFGR No dataJUSA −14.0%since Mar 2025
Market sensitivityBeta, 5 years: AFGR 1.27JUSA 0.98; Market = 1

AFGR and JUSA in the news

All news⁠

New ETFs
YieldMax lists an SK hynix options ETF that does not own the shares
Oct 28, 2026JUSA
ETF Filings
JPMorgan All Country Research Enhanced Equity ETF sets 0.22% fee, ticker JALL
Sep 4, 2026JUSA

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AFGR vs JUSA

In short

Stated mandate

Why people hold it

Worth knowing

How AFGR and JUSA differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in AFGR

Only in JUSA

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

YieldMax lists an SK hynix options ETF that does not own the shares

JPMorgan All Country Research Enhanced Equity ETF sets 0.22% fee, ticker JALL

How AFGR and JUSA differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in AFGR

Only in JUSA

Weight gaps