FTCE vs JQUA: Grades, Fees and Holdings Compared

First Trust New Constructs Core Earnings Leaders ETF

FTCECNYSE Arca

JPMorgan U.S. Quality Factor ETF

JQUAANYSE Arca

Overlap

16.8%by weight

Expense ratio

JQUA −0.48pt a year

FTCE0.60%JQUA0.12%

Avg volume · 30D

JQUA 89.8×the volume

FTCE7.17KJQUA644K

FTCE vs JQUA Performance

Nov 7, 2025 – Nov 9, 2026

+10.9%FTCE+22.8%JQUA

Expense ratio: FTCE 0.60%; JQUA 0.12%, better
Fund size: FTCE $80M; JQUA $9.49B
1Y total return: FTCE +10.9%; JQUA +22.8%, better
Yield (12M): FTCE 0.73%; JQUA 1.06%, better
Holdings: FTCE 101; JQUA 310
Avg volume (30D): FTCE 7.17K sh; JQUA 644K sh, better
NAV per share: FTCE $26.30; JQUA $73.35
52W range

ETF.net Grade

Pillar letters and Scores for FTCE, JQUA, with each pillar’s weight
Pillar	FTCE	JQUA
Cost30% weight	F2	A100Higher
Mission25% weight	A93Higher	A80
Risk15% weight	D37	A76Higher
Tradability15% weight	C48	B56Higher
Holdings10% weight	C51	A83Higher
Durability5% weight	C41	A75Higher

Rank among US Quality Index funds

How we build Categories ›

Same Category. FTCE 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 FTCE 20th of 26 funds in the US Quality Index Category.

Rank 1AJQUAJPMorgan U.S. Quality Factor ETFScore 81
Rank 2AQUALiShares MSCI USA Quality Factor ETFScore 77
Rank 19CABFLAbacus FCF Leaders ETFScore 44
Rank 20CFTCEFirst Trust New Constructs Core Earnings Leaders ETFScore 43
Rank 21CQFRDPacer S&P 500 Quality FCF R&D Leaders ETFScore 40

Our read on each fund

ETF.net Research

FTCECFirst Trust New Constructs Core Earnings Leaders ETF

JQUAAJPMorgan U.S. Quality Factor ETF

In short

FTCE Quality investing with a forensic-accounting accent. FTCE tracks a Bloomberg index built on New Constructs core earnings work, holding about 100 US companies. A 2024 launch that charges 0.60% in a category full of cheaper giants.

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

FTCE The Fund seeks to track the price and yield performance of the Bloomberg New Constructs Core Earnings Leaders Index before fees and expenses.

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

FTCE A screen no other fund in the US quality group runs: the Bloomberg New Constructs Core Earnings Leaders Index, profitability-driven and rules-based rather than a repackaged cap-weighted quality score.ftportfolios.com
The mandate is plain on the tin: US stocks, quality and profitability screens, index tracking, no manager improvising between rebalances.ftportfolios.com
Concentrated by design: roughly 100 names, tight enough for the screen to show up in results. Distributions come quarterly.

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

FTCE The fee is the headline trade-off: 0.60% a year, against a category median near 0.29% and the big quality names at 0.12% (JQUA) or 0.15% (QUAL).
Thinly traded compared with the household-name quality funds, so spreads can be wider and large orders take more care at the open and close.
Launched in 2024, so the record is short. There is not yet a full market cycle showing how the core earnings screen behaves when leadership shifts.

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 FTCE profile⁠

Full JQUA profile⁠

FTCE vs JQUA Holdings

How FTCE and JQUA differ

Overlap by weight

16.8%

Shared holdings make up 49.1% of FTCE and 16.8% of JQUA.

Level by level

Holdings31 in both16.8%
Sector11 Sectors94.4%
Countryby domicile99.3%
Asset classStocks100%

Sector

Sector weights in FTCE and JQUA, widest gap first
Sector	Gap	FTCE	JQUA
Technology	FTCE +2.9 points	40.4%	37.5%
Financials	JQUA +1.6 points	12.3%	14.0%
Consumer Discretionary	JQUA +1.5 points	8.6%	10.1%
Industrials	JQUA +1.0 points	7.0%	8.0%
Consumer Staples	JQUA +1.0 points	4.8%	5.8%
Utilities	FTCE +1.0 points	2.0%	1.1%
Health Care	FTCE +0.8 points	10.7%	9.9%
Communication	FTCE +0.7 points	6.4%	5.7%
Real Estate	JQUA +0.2 points	2.0%	2.3%
Energy	FTCE +0.2 points	4.0%	3.8%
Materials	FTCE +0.1 points	1.6%	1.6%

Country, concentration and asset class

Country by domicile

Country weights in FTCE and JQUA, widest gap first
Country	More in FTCEMore in JQUA	Gap	FTCE	JQUA
Mexico		FTCE +0.7 points	0.7%	0.0%
Other countries (2)		JQUA +0.7 points	99.3%	100.0%

Concentration

Weight in the 10 largest Holdings

FTCE40.1%
JQUA18.5%

Securities held

FTCE100
JQUA308

Asset class

FTCE: Stocks
JQUA: Stocks

Holdings

Only in FTCE69
In both31
Only in JQUA277

Only in FTCE

69 securities, 50.8% of FTCE by weight

International Business Machines Corporation5.37%
Eli Lilly and Company4.24%
General Motors Company2.84%
Cloudflare, Inc. (Class A)2.61%
Seagate Technology Holdings Plc2.41%
Intel Corporation2.25%
Ford Motor Company1.82%
Take-Two Interactive Software, Inc.1.80%
Amphenol Corporation1.70%
SLB Ltd.1.35%
Strategy Incorporated (Class A)1.30%
Lumentum Holdings Inc.1.26%
Eaton Corporation Plc1.23%
Live Nation Entertainment, Inc.1.05%
The Charles Schwab Corporation0.90%
3M Company0.89%
Flex Ltd.0.77%
Quanta Services, Inc.0.75%
The Kroger Co.0.74%
Diamondback Energy, Inc.0.67%
Equinix, Inc.0.65%
FedEx Corporation0.62%
TransDigm Group Incorporated0.62%
Air Products and Chemicals, Inc.0.61%
Pfizer Inc.0.61%
Entegris, Inc.0.59%
Cummins Inc.0.58%
The Estee Lauder Companies Inc.0.52%
Halliburton Company0.43%
Arthur J. Gallagher & Co.0.43%
Dominion Energy, Inc.0.43%
Vylor Inc.0.42%
CVS Health Corporation0.39%
Rockwell Automation, Inc.0.39%
Robinhood Markets, Inc. (Class A)0.38%
Sempra0.36%
Realty Income Corporation0.36%
Moderna, Inc.0.34%
PayPal Holdings, Inc.0.31%
Fifth Third Bancorp0.29%
Apollo Global Management, Inc.0.28%
Otis Worldwide Corporation0.28%
Ventas, Inc.0.28%
Block, Inc. (Class A)0.27%
CBRE Group, Inc.0.25%
American International Group, Inc.0.25%
Cardinal Health, Inc.0.23%
Edwards Lifesciences Corporation0.22%
Becton, Dickinson and Company0.21%
Xylem Inc.0.21%

Only in JQUA

277 securities, 83.1% of JQUA by weight

Apple Inc Common Stock2.17%
Microsoft Corp Common2.15%
Berkshire Hathaway Inc1.87%
Exxonmobil Holdings Corp1.83%
Advanced Micro Devices1.67%
Johnson & Johnson Common1.67%
Broadcom Inc Common1.66%
NVIDIA Corp Common Stock1.64%
Alphabet Inc-Cl A -1.54%
Micron Technology Inc1.38%
Costco Wholesale Corp1.36%
The Procter & Gamble1.11%
Palantir Technologies Inc1.10%
Cisco Systems Inc Common1.09%
Home Depot Inc/The Common1.02%
Texas Instruments Inc0.87%
Linde PLC Common Stock0.77%
Crowdstrike Holdings Inc0.77%
Chevron Corp Common Stock0.72%
Applied Materials Inc0.70%
Lam Research Corp Common0.69%
Analog Devices Inc Common0.66%
Ge Vernova Inc Common0.66%
Mcdonald's Corp Common0.65%
Qualcomm Inc Common Stock0.65%
Union Pacific Corp Common0.64%
Kla Corp Common Stock USD0.62%
Salesforce.com Inc.0.60%
Tjx Cos Inc/The Common0.54%
Applovin Corp Common0.49%
Chubb Ltd Common Stock0.49%
Philip Morris0.47%
Lockheed Martin Corp0.46%
Automatic Data Processing0.45%
Intuit Inc Common Stock0.44%
Waste Management Inc0.43%
Marriott International0.43%
Cadence Design Systems0.43%
S&P Global Inc Common0.42%
Travelers Cos Inc/The0.42%
Progressive Corp/The0.42%
Booking Holdings Inc0.42%
Sandisk Corp Common Stock0.41%
Conocophillips Common0.41%
Servicenow Inc Common0.41%
Snowflake Inc Common0.40%
Skyworks Solutions Inc0.39%
Aon PLC Common Stock USD0.39%
Autodesk Inc Common Stock0.39%
Moody's Corp Common Stock0.38%

Weight gaps

All 31 Holdings in both funds, largest gap first.

Holding weights in FTCE and JQUA, widest gap first
Holding	Gap	FTCE	JQUA
Accenture plcACN	FTCE +4.25 points	4.86%	0.61%
Starbucks CorporationSBUX	FTCE +4.07 points	4.51%	0.44%
Palo Alto Networks, Inc.PANW	FTCE +2.97 points	3.81%	0.84%
Adobe IncorporatedADBE	FTCE +2.46 points	2.89%	0.43%
Visa Inc. (Class A)V	FTCE +2.33 points	4.34%	2.01%
Meta Platforms, Inc. (Class A)META	FTCE +2.26 points	4.05%	1.79%
Altria Group, Inc.MO	FTCE +1.92 points	2.47%	0.55%
Mastercard IncorporatedMA	FTCE +1.62 points	3.19%	1.57%
EOG Resources, Inc.EOG	FTCE +1.16 points	1.43%	0.27%
Colgate-Palmolive CompanyCL	FTCE +1.08 points	1.50%	0.42%
Newmont CorporationNEM	FTCE +0.97 points	1.15%	0.18%
VeriSign, Inc.VRSN	FTCE +0.89 points	1.17%	0.28%
NetApp, Inc.NTAP	FTCE +0.74 points	1.01%	0.27%
United Parcel Service, Inc. (Class B)UPS	FTCE +0.72 points	0.75%	0.03%
Cognizant Technology Solutions CorporationCTSH	FTCE +0.60 points	0.89%	0.29%
Jabil Inc.JBL	FTCE +0.57 points	0.75%	0.18%
HP Inc.HPQ	FTCE +0.55 points	0.79%	0.24%
ON Semiconductor CorporationON	FTCE +0.51 points	0.75%	0.24%
Atlassian Corporation (Class A)TEAM	FTCE +0.51 points	0.74%	0.23%
AbbVie Inc.ABBV	FTCE +0.47 points	1.89%	1.42%
BlackRock, Inc.BLK	FTCE +0.33 points	1.00%	0.67%
W.W. Grainger, Inc.GWW	FTCE +0.25 points	0.60%	0.35%
Merck & Co., Inc.MRK	FTCE +0.21 points	1.33%	1.12%
Vistra Corp.VST	FTCE +0.19 points	0.29%	0.10%
Crown Castle Inc.CCI	FTCE +0.17 points	0.25%	0.08%
Paychex, Inc.PAYX	FTCE +0.14 points	0.35%	0.21%
Marsh & McLennan Companies, Inc.MRSH	FTCE +0.11 points	0.59%	0.48%
Extra Space Storage Inc.EXR	FTCE +0.11 points	0.22%	0.11%
Consolidated Edison, Inc.ED	FTCE +0.09 points	0.31%	0.22%
Bristol-Myers Squibb CompanyBMY	FTCE +0.01 points	0.47%	0.46%
Gilead Sciences, Inc.GILD	FTCE +0.01 points	0.76%	0.75%

All 100 FTCE 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.

FTCE vs JQUA Cost

Overpaying FTCE vs JQUA

$9,297

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

FTCE 0.60%
$11,817
JQUA 0.12%
$2,520

Amount$10,000

Years30 years

Cost over time

FTCE 0.60%
JQUA 0.12%
Overpaying

Year by year

Year	FTCE	JQUA	Overpaying
10	$1,076	$220	$856
20	$4,116	$859	$3,257
30	$11,817	$2,520	$9,297

Expense ratio

0.60%FTCE
0.12%JQUA, cheaper

JQUA0.12%FTCE0.60%

0.12%0.60%

Middle half of US Quality Index funds
Median 0.39%

JQUA cheapest of 26 funds

FTCE 25th cheapest of 26 funds

FTCE vs JQUA Dividends

Last 12 months to Nov 9, 2026

Yield (12M): FTCE 0.73%; JQUA 1.06%, better
Payout (12M): FTCE $0.20; JQUA $0.79
Last payment: FTCE $0.06; JQUA $0.18
Ex-dividend: FTCE Sep 24, 2026; JQUA Sep 22, 2026
Paid on: FTCE Sep 30, 2026; JQUA Sep 24, 2026
Frequency: FTCE Quarterly; JQUA Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FTCEQuarterly · 8 paymentsAll FTCE payments⁠

JQUAQuarterly · 37 paymentsAll JQUA payments⁠

FTCE vs JQUA Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: FTCE 14.8%since Nov 2024JQUA 11.6%
Return per unit of riskSharpe ratio, 3 years: FTCE 0.97since Nov 2024JQUA 1.47
Worst fallMax drawdown, 5 years: FTCE −18.1%since Oct 2024JQUA −22.5%
Market sensitivityBeta, 5 years: FTCE 1.02JQUA 0.91; Market = 1

FTCE 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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FTCE vs JQUA

In short

Stated mandate

Why people hold it

Worth knowing

How FTCE and JQUA differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FTCE

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 FTCE and JQUA differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FTCE

Only in JQUA

Weight gaps