DAK vs JUSA: Grades, Fees and Holdings Compared

Dakota Active Equity ETF

DAKBNasdaq

JPMorgan U.S. Research Enhanced Large Cap ETF

JUSAANYSE Arca

Overlap

34.6%by weight

Expense ratio

JUSA −0.25pt a year

DAK0.43%JUSA0.18%

Avg volume · 30D

JUSA 168.8×the volume

DAK585JUSA98.8K

DAK vs JUSA Performance

Oct 31, 2025 – Oct 30, 2026

+11.2%DAK+10.8%JUSA

Expense ratio: DAK 0.43%; JUSA 0.18%, better
Fund size: DAK $43M; JUSA $745M
1Y total return: DAK +11.2%, better; JUSA +10.8%
Yield (12M): DAK 0.82%, better; JUSA 0.72%
Holdings: DAK 69; JUSA 263
Avg volume (30D): DAK 585 sh; JUSA 98.8K sh, better
NAV per share: DAK $29.39; JUSA $67.75
52W range

ETF.net Grade

Pillar letters and Scores for DAK, JUSA, with each pillar’s weight
Pillar	DAK	JUSA
Cost30% weight	A74	A99Higher
Mission25% weight	Not scored	A84
Risk15% weight	A93Higher	A92
Tradability15% weight	F21	B58Higher
Holdings10% weight	A82	A84Higher
Durability5% weight	F20	A76Higher

Rank among US Active Growth funds

How we build Categories ›

Same Category. DAK 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 DAK 18th 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 16BNSIGNorth Square Growth Opportunities ETFScore 65
Rank 18BDAKDakota Active Equity ETFScore 64
Rank 18BLGROLevel Four Large Cap Growth Active ETFScore 64

Our read on each fund

ETF.net Research

DAKBDakota Active Equity ETF

JUSAAJPMorgan U.S. Research Enhanced Large Cap ETF

In short

DAK No data

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

DAK No data

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

DAK No data

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

DAK No data

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 DAK profile⁠

Full JUSA profile⁠

DAK vs JUSA Holdings

How DAK and JUSA differ

Overlap by weight

34.6%

Shared holdings make up 59.9% of DAK and 46.4% of JUSA.

Level by level

Holdings41 in both34.6%
Sector11 Sectors94.1%
Asset classEquity100%
Countryby domicile99.9%

Sector

Sector weights in DAK and JUSA, widest gap first
Sector	More in DAKMore in JUSA	DAK	JUSA
Consumer Discretionary	JUSA +3.4 points	6.4%	9.8%
Financials	DAK +3.1 points	14.2%	11.1%
Health Care	JUSA +1.9 points	7.1%	9.0%
Consumer Staples	DAK +1.6 points	5.2%	3.6%
Materials	DAK +0.7 points	2.3%	1.6%
Utilities	JUSA +0.4 points	1.4%	1.9%
Industrials	DAK +0.3 points	7.6%	7.3%
Real Estate	DAK +0.3 points	2.0%	1.7%
Energy	JUSA +0.1 points	3.2%	3.3%
Technology	JUSA +0.1 points	40.6%	40.7%
Communication	Same weight	10.0%	10.0%

Country, concentration and asset class

Country by domicile

Country weights in DAK and JUSA, widest gap first
Country	More in DAKMore in JUSA	DAK	JUSA
United States	Same weight	99.9%	99.9%
Switzerland	JUSA +0.1 points	0.0%	0.1%
China	DAK +0.1 points	0.1%	0.0%
United Kingdom	Same weight	0.0%	0.0%
Mexico	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

DAK37.6%
JUSA37.8%

Securities held

DAK69
JUSA261

Asset class

DAK: Equity
JUSA: Equity

Holdings

Only in DAK28
In both41
Only in JUSA220

Only in DAK

28 securities, 40.1% of DAK by weight

iShares Core S&P 500 ETF3.76%
Analog Devices Inc3.04%
JPMorgan Chase & Co.2.95%
West Pharmaceutical Services Inc2.64%
Keysight Technologies Inc2.53%
Salesforce Inc2.48%
Bank of New York Mellon Corp/The2.37%
IDEX Corp2.27%
iShares U.S. Technology ETF2.18%
Automatic Data Processing Inc2.16%
Allstate Corp/The1.88%
Monolithic Power Systems Inc1.81%
Public Storage1.67%
TJX Cos Inc/The1.53%
State Street SPDR Bloomberg 1-3 Month T-Bill ETF1.30%
State Street SPDR S&P 500 ETF Trust1.21%
State Street SPDR Portfolio S&P 500 Growth ETF0.90%
First American Government Obligations Fund 12/01/20310.90%
Gilead Sciences Inc0.60%
Freeport-McMoRan Inc0.51%
SLB Ltd0.42%
Waste Management Inc0.28%
ResMed Inc0.21%
Paychex Inc0.19%
Valero Energy Corp0.16%
Blackrock Inc0.09%
Take-Two Interactive Software Inc0.09%
nVent Electric PLC0.02%

Only in JUSA

220 securities, 53.4% of JUSA by weight

Broadcom Inc Common2.54%
Meta Platforms Inc Common2.16%
Micron Technology Inc1.57%
Tesla Inc Common Stock1.42%
Berkshire Hathaway Inc1.35%
Johnson & Johnson Common1.32%
JPMorgan Prime Money0.95%
Rtx Corp0.93%
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%
Palantir Technologies Inc0.57%
Trane Technologies PLC0.57%
Charles Schwab Corp/The0.56%
The Southern Company0.55%
Walmart Inc Common Stock0.52%
Bristol-Myers Squibb Co0.50%
Accenture PLC Common0.48%
AT&T Inc Common Stock USD0.48%
Mcdonald's Corp Common0.47%
Mondelez International0.47%
Howmet Aerospace Inc0.46%
Intel Corp Common Stock0.46%
Aon PLC Common Stock USD0.45%
Seagate Technology0.45%
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%
Western Digital Corp0.40%
Stryker Corp Common Stock0.39%
Netflix Inc Common Stock0.39%
Capital One Financial0.39%
Nxp Semiconductors NV0.38%
Vertex Pharmaceuticals0.36%
Crowdstrike Holdings Inc0.36%
Chipotle Mexican Grill0.36%
Cummins Inc Common Stock0.35%
Vertiv Holdings Co0.34%

Weight gaps

All 41 Holdings in both funds, largest gap first.

Holding weights in DAK and JUSA, widest gap first
Holding	More in DAKMore in JUSA	DAK	JUSA
Microsoft CorpMSFT	JUSA +2.90 points	3.46%	6.36%
Zebra Technologies CorpZBRA	DAK +2.75 points	2.78%	0.03%
Cboe Global Markets IncCBOE	DAK +2.57 points	2.62%	0.05%
NVIDIA CorpNVDA	JUSA +2.20 points	5.66%	7.86%
Merck & Co IncMRK	DAK +1.98 points	2.16%	0.18%
Boston Scientific CorpBSX	DAK +1.85 points	1.99%	0.14%
Amphenol CorpAPH	DAK +1.72 points	2.27%	0.55%
Advanced Micro Devices IncAMD	DAK +1.59 points	2.81%	1.22%
Alphabet IncGOOGL	JUSA +1.53 points	1.00%	2.53%
Ge AerospaceGE	DAK +1.40 points	1.53%	0.13%
Align Technology IncALGN	DAK +1.39 points	1.41%	0.02%
Arista Networks IncANET	DAK +1.35 points	1.62%	0.27%
Palo Alto Networks IncPANW	DAK +1.34 points	1.65%	0.31%
Mastercard IncMA	JUSA +0.95 points	0.32%	1.27%
Costco Wholesale CorpCOST	DAK +0.92 points	1.53%	0.61%
Alphabet IncGOOG	DAK +0.88 points	2.81%	1.93%
T-Mobile US IncTMUS	DAK +0.82 points	0.86%	0.04%
Apple IncAAPL	JUSA +0.82 points	6.49%	7.31%
Lam Research CorpLRCX	JUSA +0.79 points	0.05%	0.84%
Dover CorpDOV	DAK +0.76 points	1.00%	0.24%
Visa IncV	DAK +0.63 points	1.81%	1.18%
Eaton Corp PLCETN	DAK +0.63 points	1.02%	0.39%
EOG Resources IncEOG	DAK +0.61 points	1.21%	0.60%
Newmont CorpNEM	DAK +0.52 points	0.70%	0.18%
US BancorpUSB	JUSA +0.50 points	0.09%	0.59%
Marathon Petroleum CorpMPC	DAK +0.48 points	0.60%	0.12%
AbbVie IncABBV	JUSA +0.45 points	0.70%	1.15%
Wells Fargo & CoWFC	JUSA +0.40 points	0.37%	0.77%
Applied Materials IncAMAT	JUSA +0.39 points	0.07%	0.46%
Texas Instruments IncTXN	JUSA +0.38 points	0.12%	0.50%
SempraSRE	DAK +0.37 points	0.72%	0.35%
ExxonMobil Holdings CorpXOM	DAK +0.36 points	1.81%	1.45%
ServiceNow IncNOW	DAK +0.35 points	0.51%	0.16%
Eli Lilly & CoLLY	JUSA +0.19 points	1.35%	1.54%
Corning IncGLW	JUSA +0.12 points	0.09%	0.21%
Amazon.com IncAMZN	JUSA +0.08 points	3.87%	3.95%
Chevron CorpCVX	JUSA +0.06 points	0.12%	0.18%
TE Connectivity PLCTEL	DAK +0.02 points	0.05%	0.03%
Danaher CorpDHR	DAK +0.01 points	0.07%	0.06%
Quanta Services IncPWR	JUSA +0.01 points	0.14%	0.15%
Thermo Fisher Scientific IncTMO	JUSA +0.01 points	0.44%	0.45%

All DAK 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.

DAK vs JUSA Cost

Overpaying DAK vs JUSA

$4,913

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

DAK 0.43%
$8,662
JUSA 0.18%
$3,749

Amount$10,000

Years30 years

Cost over time

DAK 0.43%
JUSA 0.18%
Overpaying

Year by year

Year	DAK	JUSA	Overpaying
10	$776	$328	$448
20	$2,994	$1,281	$1,713
30	$8,662	$3,749	$4,913

Expense ratio

0.43%DAK
0.18%JUSA, cheaper

JUSA0.18%DAK0.43%

0.18%2.83%

Middle half of US Active Growth funds
Median 0.55%

JUSA cheapest of 90 funds

DAK 23rd cheapest of 90 funds

DAK vs JUSA Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DAK 0.82%, better; JUSA 0.72%
Payout (12M): DAK $0.24; JUSA $0.49
Last payment: DAK $0.06; JUSA $0.13
Ex-dividend: DAK Sep 28, 2026; JUSA Sep 22, 2026
Paid on: DAK Sep 30, 2026; JUSA Sep 24, 2026
Frequency: DAK Quarterly; JUSA Quarterly

Distribution history

Per share, 2025 to 2026, same scale for both

DAKQuarterly · 5 paymentsAll DAK payments⁠

JUSAQuarterly · 6 paymentsAll JUSA payments⁠

DAK vs JUSA Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: DAK 11.6%since Aug 2025JUSA 11.6%since Apr 2025
Return per unit of riskSharpe ratio, 3 years: DAK 0.97since Aug 2025JUSA 1.41since Apr 2025
Worst fallMax drawdown, 5 years: DAK −7.9%since Jul 2025JUSA −14.0%since Mar 2025
Market sensitivityBeta, 5 years: DAK 0.95JUSA 0.98; Market = 1

DAK 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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DAK vs JUSA

In short

Stated mandate

Why people hold it

Worth knowing

How DAK and JUSA differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DAK

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 DAK and JUSA differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DAK

Only in JUSA

Weight gaps