JGRO vs JUSA: Grades, Fees and Holdings Compared

JPMorgan Active Growth ETF

JGROBNYSE Arca

JPMorgan U.S. Research Enhanced Large Cap ETF

JUSAANYSE Arca

Overlap

53.3%by weight

Expense ratio

JUSA −0.26pt a year

JGRO0.44%JUSA0.18%

Avg volume · 30D

JGRO 5.4×the volume

JGRO536KJUSA98.8K

JGRO vs JUSA Performance

Oct 31, 2025 – Oct 30, 2026

−5.4%JGRO+10.8%JUSA

Expense ratio: JGRO 0.44%; JUSA 0.18%, better
Fund size: JGRO $9.48B; JUSA $745M
1Y total return: JGRO −5.4%; JUSA +10.8%, better
Yield (12M): JGRO 0.16%; JUSA 0.72%, better
Holdings: JGRO 140; JUSA 263
Avg volume (30D): JGRO 536K sh, better; JUSA 98.8K sh
NAV per share: JGRO $91.05; JUSA $67.75
52W range

ETF.net Grade

Pillar letters and Scores for JGRO, JUSA, with each pillar’s weight
Pillar	JGRO	JUSA
Cost30% weight	A74	A99Higher
Mission25% weight	Not scored	A84
Risk15% weight	C46	A92Higher
Tradability15% weight	B63Higher	B58
Holdings10% weight	B68	A84Higher
Durability5% weight	A87Higher	A76

Rank among US Active Growth funds

How we build Categories ›

Same Category. JGRO 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 JGRO 13th 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 12BFFLGFidelity Fundamental Large Cap Growth ETFScore 67
Rank 13BJGROJPMorgan Active Growth ETFScore 66
Rank 13BLGDSJPMorgan Fundamental Data Science Large Growth ETFScore 66

Our read on each fund

ETF.net Research

JGROBJPMorgan Active Growth ETF

JUSAAJPMorgan U.S. Research Enhanced Large Cap ETF

In short

JGRO J.P. Morgan's stock pickers run a concentrated US growth book in ETF form: roughly 130 large- and mid-cap names chosen bottom-up, at a fee below the typical active growth fund.

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

JGRO JGRO seeks long-term capital appreciation through an actively managed, fundamental, bottom-up portfolio focused primarily on U.S. large- and mid-capitalization companies with underappreciated growth potential.

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

JGRO Charges 0.44% a year, under the 0.54% median for its active US growth peer group. Active management without the usual active price tag.
No index to hug. Managers pick roughly 130 US large- and mid-cap companies they see as having underappreciated growth potential.jpmorgan.com
Launched in 2022 and now a multi-billion-dollar fund that trades actively, so getting in and out is rarely the hard part.
Sits in the top quartile of its active US growth cohort on our review, one of the sturdier implementations of the idea.

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

JGRO A growth mandate concentrated in about 130 names moves harder in both directions than the broad market. Bumpier by design.
Built for capital appreciation, not cash flow. Distributions come annually or semiannually.
Cheaper active options share the shelf: JUSA at 0.12% and FELG at 0.18% stay closer to the index rather than making high-conviction picks.

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 JGRO profile⁠

Full JUSA profile⁠

JGRO vs JUSA Holdings

How JGRO and JUSA differ

Overlap by weight

53.3%

Shared holdings make up 84.6% of JGRO and 65.3% of JUSA.

Level by level

Holdings82 in both53.3%
Sector11 Sectors83.8%
Countryby domicile98.7%
Asset classEquity100%

Sector

Sector weights in JGRO and JUSA, widest gap first
Sector	More in JGROMore in JUSA	JGRO	JUSA
Technology	JGRO +9.0 points	49.7%	40.7%
Financials	JUSA +5.2 points	5.9%	11.1%
Consumer Discretionary	JUSA +4.4 points	5.4%	9.8%
Communication	JGRO +3.4 points	13.4%	10.0%
Health Care	JGRO +2.5 points	11.5%	9.0%
Utilities	JUSA +1.9 points	0.0%	1.9%
Real Estate	JUSA +1.4 points	0.3%	1.7%
Materials	JUSA +1.4 points	0.2%	1.6%
Energy	JUSA +1.4 points	1.9%	3.3%
Industrials	JGRO +1.2 points	8.5%	7.3%
Consumer Staples	JUSA +0.4 points	3.2%	3.6%

Country, concentration and asset class

Country by domicile

Country weights in JGRO and JUSA, widest gap first
Country	More in JGROMore in JUSA	JGRO	JUSA
United States	JUSA +1.2 points	98.7%	99.9%
Taiwan	JGRO +0.9 points	0.9%	0.0%
Other countries (5)	JGRO +0.2 points	0.3%	0.1%

Concentration

Weight in the 10 largest Holdings

JGRO50.1%
JUSA37.8%

Securities held

JGRO139
JUSA261

Asset class

JGRO: Equity
JUSA: Equity

Holdings

Only in JGRO57
In both82
Only in JUSA179

Only in JGRO

57 securities, 15.4% of JGRO by weight

Natera Inc Common Stock1.68%
Taiwan Semiconductor0.89%
Goldman Sachs Group0.78%
Monster Beverage Corp0.76%
Gilead Sciences Inc0.52%
Ametek Inc Common Stock0.46%
Itt Inc Common Stock USD0.43%
Amgen Inc Common Stock0.42%
Insmed Inc Common Stock0.42%
Veeva Systems Inc Common0.41%
Entegris Inc0.41%
Williams Cos Inc/The0.41%
Okta Inc Common Stock0.39%
Technipfmc PLC Common0.33%
Teradyne Inc Common Stock0.32%
Robinhood Markets Inc0.31%
Take-Two Interactive0.29%
Live Nation0.29%
Jfrog Ltd Common Stock0.29%
Digitalocean Holdings0.27%
Space Exploration0.26%
Cloudflare Inc Common0.25%
Revolution Medicines Inc0.25%
Royal Caribbean Cruises0.25%
Veradermics Inc Common0.24%
Rockwell Automation Inc0.24%
Performance Food Group Co0.23%
Mks Inc Common Stock USD0.22%
Airbnb Inc Common Stock0.22%
Bwx Technologies Inc0.20%
Rhythm Pharmaceuticals0.19%
Cerebras Systems Inc0.18%
Rubrik Inc Common Stock0.17%
Elastic NV Common Stock0.17%
Freeport-Mcmoran Inc0.16%
Analog Devices Inc0.15%
Innio NV Common Stock USD0.15%
Allegro Microsystems Inc0.14%
Guidewire Software Inc0.14%
Disc Medicine Inc Common0.14%
Carpenter Technology0.12%
Fabrinet Common Stock0.12%
Uniqure NV Common Stock0.11%
Bloom Energy Corp Common0.11%
Somnigroup International0.10%
Spyre Therapeutics Inc0.10%
Guardant Health Inc0.10%
Bridgebio Pharma Inc0.10%
Zoom Communications Inc0.08%
Moderna Inc Common Stock0.08%

Only in JUSA

179 securities, 34.7% of JUSA by weight

Alphabet Inc-Cl A -2.53%
AbbVie Inc Common Stock1.15%
Wells Fargo & Co Common0.77%
Citigroup Inc Common0.70%
Conocophillips Common0.69%
UnitedHealth Group Inc0.67%
Lowe's Cos Inc Common0.65%
Nextera Energy Inc0.64%
Pepsico Inc Common Stock0.64%
Costco Wholesale Corp0.61%
Us Bancorp Common Stock0.59%
The Southern Company0.55%
AT&T Inc Common Stock USD0.48%
Mondelez International0.47%
Aon PLC Common Stock USD0.45%
Seagate Technology0.45%
Regeneron Pharmaceuticals0.44%
Morgan Stanley Dean0.43%
Equinix Inc Reit USD0.42%
The Walt Disney Company0.42%
Fifth Third Bancorp0.41%
Ecolab Inc Common Stock0.41%
Keurig Dr Pepper Inc0.41%
Stryker Corp Common Stock0.39%
Eaton Corp PLC Common0.39%
Capital One Financial0.39%
Nxp Semiconductors NV0.38%
Vertex Pharmaceuticals0.36%
Sempra Common Stock USD0.35%
Cummins Inc Common Stock0.35%
Medtronic PLC Common0.34%
Ventas Inc Reit USD 0.250.33%
Entergy Corp Common Stock0.33%
Ross Stores Inc Common0.32%
General Dynamics Corp0.31%
American Express Co0.31%
Edwards Lifesciences0.30%
Fedex Corp Common Stock0.29%
Corpay Inc0.28%
American Tower Corp Reit0.28%
Cme Group Inc Common0.28%
Yum Brands Inc Common0.28%
Arista Networks Inc0.27%
Cigna Group/The Common0.27%
Intuitive Surgical Inc0.26%
Diamondback Energy Inc0.24%
Devon Energy Corp Common0.24%
Hewlett Packard0.24%
Dover Corp Common Stock0.24%
Arch Capital Group Ltd0.23%

Weight gaps

All 82 Holdings in both funds, largest gap first.

Holding weights in JGRO and JUSA, widest gap first
Holding	More in JGROMore in JUSA	JGRO	JUSA
Alphabet Inc-Cl C -GOOG	JGRO +7.22 points	9.15%	1.93%
NVIDIA Corp Common StockNVDA	JGRO +4.33 points	12.19%	7.86%
Amazon.com Inc CommonAMZN	JUSA +2.61 points	1.34%	3.95%
Advanced Micro DevicesAMD	JGRO +1.81 points	3.03%	1.22%
Eli Lilly and CompanyLLY	JGRO +1.54 points	3.08%	1.54%
Broadcom Inc CommonAVGO	JGRO +1.36 points	3.90%	2.54%
Palo Alto Networks IncPANW	JGRO +1.35 points	1.66%	0.31%
Crowdstrike Holdings IncCRWD	JGRO +1.18 points	1.54%	0.36%
Microsoft Corp CommonMSFT	JUSA +1.17 points	5.19%	6.36%
Berkshire Hathaway IncBRK.B	JUSA +0.88 points	0.47%	1.35%
Apple Inc Common StockAAPL	JUSA +0.87 points	6.44%	7.31%
Philip MorrisPM	JGRO +0.79 points	1.54%	0.75%
Micron Technology IncMU	JGRO +0.75 points	2.32%	1.57%
General Electric CoGE	JGRO +0.74 points	0.87%	0.13%
Merck & Co Inc CommonMRK	JGRO +0.74 points	0.92%	0.18%
Mastercard Inc CommonMA	JGRO +0.71 points	1.98%	1.27%
Meta Platforms Inc CommonMETA	JGRO +0.65 points	2.81%	2.16%
Snowflake Inc CommonSNOW	JGRO +0.65 points	0.79%	0.14%
Quanta Services IncPWR	JGRO +0.63 points	0.78%	0.15%
Exxonmobil Holdings CorpXOM	JUSA +0.63 points	0.82%	1.45%
Twilio Inc Common StockTWLO	JGRO +0.59 points	0.67%	0.08%
Tesla Inc Common StockTSLA	JGRO +0.53 points	1.95%	1.42%
Deere & Co Common StockDE	JGRO +0.51 points	0.77%	0.26%
Dell Technologies IncDELL	JGRO +0.45 points	0.65%	0.20%
Walmart Inc Common StockWMT	JUSA +0.45 points	0.07%	0.52%
Visa Inc Common Stock USDV	JUSA +0.45 points	0.73%	1.18%
Bristol-Myers Squibb CoBMY	JUSA +0.45 points	0.05%	0.50%
Amphenol Corp CommonAPH	JUSA +0.38 points	0.17%	0.55%
The Coca-Cola CompanyKO	JGRO +0.38 points	0.57%	0.19%
Netflix Inc Common StockNFLX	JUSA +0.37 points	0.02%	0.39%
Intel Corp Common StockINTC	JUSA +0.36 points	0.10%	0.46%
Palantir Technologies IncPLTR	JGRO +0.36 points	0.93%	0.57%
Comfort Systems Usa IncFIX	JGRO +0.33 points	0.41%	0.08%
Mcdonald's Corp CommonMCD	JUSA +0.31 points	0.16%	0.47%
Cencora Inc Common StockCOR	JGRO +0.31 points	0.37%	0.06%
Autozone Inc Common StockAZO	JUSA +0.30 points	0.03%	0.33%
3M Co Common Stock USDMMM	JGRO +0.30 points	0.92%	0.62%
Vertiv Holdings CoVRT	JUSA +0.28 points	0.06%	0.34%
Doordash Inc CommonDASH	JGRO +0.27 points	0.50%	0.23%
Teledyne Technologies IncTDY	JGRO +0.26 points	0.30%	0.04%
Casey's General StoresCASY	JGRO +0.25 points	0.28%	0.03%
Chipotle Mexican GrillCMG	JUSA +0.23 points	0.13%	0.36%
Ciena Corp Common StockCIEN	JGRO +0.23 points	0.30%	0.07%
Iqvia Holdings Inc CommonIQV	JGRO +0.22 points	0.29%	0.08%
Oracle Corp Common StockORCL	JUSA +0.21 points	0.06%	0.27%
Datadog Inc Common StockDDOG	JGRO +0.20 points	0.33%	0.13%
Howmet Aerospace IncHWM	JUSA +0.20 points	0.26%	0.46%
Accenture PLC CommonACN	JGRO +0.20 points	0.68%	0.48%
Bank of America CorpBAC	JUSA +0.20 points	0.46%	0.66%
Western Digital CorpWDC	JUSA +0.20 points	0.20%	0.40%
Cbre Group Inc CommonCBRE	JGRO +0.19 points	0.25%	0.06%
JPMorgan Prime Money	JUSA +0.19 points	0.76%	0.95%
Hilton Worldwide HoldingsHLT	JGRO +0.19 points	0.40%	0.21%
Neurocrine BiosciencesNBIX	JGRO +0.18 points	0.30%	0.12%
Jabil Inc Common StockJBL	JGRO +0.16 points	0.22%	0.06%
Eog Resources Inc CommonEOG	JUSA +0.16 points	0.44%	0.60%
Rtx CorpRTX	JUSA +0.15 points	0.78%	0.93%
Union Pacific CorpUNP	JGRO +0.15 points	0.43%	0.28%
Interactive BrokersIBKR	JGRO +0.15 points	0.20%	0.05%
Caterpillar Inc CommonCAT	JGRO +0.14 points	0.30%	0.16%
Illumina Inc CommonILMN	JGRO +0.14 points	0.18%	0.04%
Booking Holdings IncBKNG	JUSA +0.11 points	0.31%	0.42%
Applied Materials IncAMAT	JUSA +0.09 points	0.37%	0.46%
Trane Technologies PLC	JUSA +0.09 points	0.48%	0.57%
Lam Research Corp CommonLRCX	JUSA +0.08 points	0.76%	0.84%
Lumentum Holdings IncLITE	JGRO +0.07 points	0.18%	0.11%
Cvs Health Corp CommonCVS	JUSA +0.07 points	0.13%	0.20%
Texas Instruments IncTXN	JUSA +0.07 points	0.43%	0.50%
Charles Schwab Corp/TheSCHW	JUSA +0.06 points	0.50%	0.56%
Sandisk Corp CommonSNDK	JUSA +0.06 points	0.16%	0.22%
Ge Vernova Inc CommonGEV	JGRO +0.05 points	0.33%	0.28%
Johnson & Johnson CommonJNJ	JUSA +0.05 points	1.27%	1.32%
Marvell Technology IncMRVL	JUSA +0.04 points	0.16%	0.20%
Progressive Corp/ThePGR	JUSA +0.04 points	0.30%	0.34%
Arthur J Gallagher & CoAJG	JUSA +0.04 points	0.36%	0.40%
Cisco Systems Inc CommonCSCO	JGRO +0.03 points	0.25%	0.22%
United Airlines HoldingsUAL	JGRO +0.03 points	0.12%	0.09%
Thermo Fisher ScientificTMO	JGRO +0.02 points	0.47%	0.45%
The Procter & GamblePG	JGRO +0.02 points	0.11%	0.09%
Corning Inc Common StockGLW	JUSA +0.02 points	0.19%	0.21%
Applovin Corp CommonAPP	JUSA +0.01 points	0.03%	0.04%
Abbott LaboratoriesABT	Same weight	0.18%	0.18%

All 139 JGRO 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.

JGRO vs JUSA Cost

Overpaying JGRO vs JUSA

$5,103

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

JGRO 0.44%
$8,852
JUSA 0.18%
$3,749

Amount$10,000

Years30 years

Cost over time

JGRO 0.44%
JUSA 0.18%
Overpaying

Year by year

Year	JGRO	JUSA	Overpaying
10	$794	$328	$466
20	$3,061	$1,281	$1,780
30	$8,852	$3,749	$5,103

Expense ratio

0.44%JGRO
0.18%JUSA, cheaper

JUSA0.18%JGRO0.44%

0.18%2.83%

Middle half of US Active Growth funds
Median 0.55%

JUSA cheapest of 90 funds

JGRO 24th cheapest of 90 funds

JGRO vs JUSA Dividends

Last 12 months to Oct 30, 2026

Yield (12M): JGRO 0.16%; JUSA 0.72%, better
Payout (12M): JGRO $0.15; JUSA $0.49
Last payment: JGRO $0.15; JUSA $0.13
Ex-dividend: JGRO Dec 16, 2025; JUSA Sep 22, 2026
Paid on: JGRO Dec 18, 2025; JUSA Sep 24, 2026
Frequency: JGRO Annual; JUSA Quarterly

Distribution history

Per share, 2022 to 2026, same scale for both

JGROAnnual · 6 paymentsAll JGRO payments⁠

JUSAQuarterly · 6 paymentsAll JUSA payments⁠

JGRO vs JUSA Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: JGRO 16.8%JUSA 11.6%since Apr 2025
Return per unit of riskSharpe ratio, 3 years: JGRO 0.92JUSA 1.41since Apr 2025
Worst fallMax drawdown, 5 years: JGRO −22.7%since Aug 2022JUSA −14.0%since Mar 2025
Market sensitivityBeta, 5 years: JGRO 1.10JUSA 0.98; Market = 1

JGRO and JUSA in the news

All news⁠

ETF Filings
Valued Advisers Trust files Slow Capital's ETF conversion without settling the fee
Oct 30, 2026JGRO
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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JGRO vs JUSA

In short

Stated mandate

Why people hold it