JQUA vs QUAL: Grades, Fees and Holdings Compared

JPMorgan U.S. Quality Factor ETF

JQUAANYSE Arca

iShares MSCI USA Quality Factor ETF

QUALACboe

Overlap

40.0%by weight

Expense ratio

JQUA −0.03pt a year

JQUA0.12%QUAL0.15%

Avg volume · 30D

QUAL 1.7×the volume

JQUA598KQUAL1.03M

5Y return · a year

JQUA +2.5pt

JQUA+13.2%QUAL+10.7%

JQUA vs QUAL Performance

Oct 29, 2021 – Oct 30, 2026

+85.7%JQUA+66.2%QUAL

Expense ratio: JQUA 0.12%, better; QUAL 0.15%
Fund size: JQUA $9.55B; QUAL $48B
1Y total return: JQUA +21.8%, better; QUAL +14.4%
Yield (12M): JQUA 1.05%, better; QUAL 0.85%
Holdings: JQUA 310; QUAL 121
Avg volume (30D): JQUA 598K sh; QUAL 1.03M sh, better
NAV per share: JQUA $75.49; QUAL $222.43
52W range

ETF.net Grade

Pillar letters and Scores for JQUA, QUAL, with each pillar’s weight
Pillar	JQUA	QUAL
Cost30% weight	A100Higher	A84
Mission25% weight	A79	A94Higher
Risk15% weight	A80Higher	B64
Tradability15% weight	C54	A96Higher
Holdings10% weight	A83Higher	D35
Durability5% weight	A75	A96Higher

Rank among US Quality Index funds

How we build Categories ›

Same Category. JQUA and QUAL 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 QUAL 1st 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 3AFQALFidelity Quality Factor ETFScore 75

Our read on each fund

ETF.net Research

JQUAAJPMorgan U.S. Quality Factor ETF

QUALAiShares MSCI USA Quality Factor ETF

In short

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.

QUAL QUAL screens US large and mid caps for high return on equity, low debt and steady earnings, then does it sector by sector, so the portfolio stays spread across the market instead of piling into whichever sector looks healthiest.

Stated mandate

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.

QUAL The fund tracks an index of U.S. large- and mid-capitalization stocks selected for quality characteristics, including high return on equity, stable earnings, and low debt.

Why people hold it

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.

QUAL At 0.15%, it undercuts the typical quality-factor fund, where the cohort median sits at 0.29%.
Sector neutral by design: companies are ranked on return on equity, leverage and earnings variability against rivals in their own GICS sector.msci.com ishares.com
Running since 2013, now a $25B-$100B fund that trades actively, with returns that stay close to its index.

Worth knowing

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.

QUAL About 120 large and mid caps, leaning on the same familiar giants as a broad US index fund. This is a tilt on core equity, not new ground.
Sector neutrality cuts both ways: it keeps a foot in every sector rather than stepping away from ones with weak fundamentals.msci.com
Cheap, not cheapest. JQUA (0.12%) and VFQY (0.13%) shave a basis point or three off the fee.

Full JQUA profile⁠

Full QUAL profile⁠

JQUA vs QUAL Holdings

How JQUA and QUAL differ

Overlap by weight

40.0%

Shared holdings make up 82.7% of QUAL and 42.9% of JQUA.

Level by level

Holdings80 in both40.0%
Sector11 Sectors92.3%
Countryby domicile99.3%
Asset classEquity100%

Sector

Sector weights in JQUA and QUAL, widest gap first
Sector	More in JQUAMore in QUAL	JQUA	QUAL
Technology	JQUA +4.7 points	41.6%	36.9%
Communication	QUAL +3.9 points	5.5%	9.4%
Industrials	QUAL +1.6 points	7.1%	8.7%
Utilities	QUAL +1.0 points	1.1%	2.1%
Consumer Staples	JQUA +1.0 points	5.5%	4.5%
Health Care	QUAL +0.9 points	9.0%	9.9%
Financials	JQUA +0.8 points	13.1%	12.3%
Real Estate	JQUA +0.7 points	2.2%	1.5%
Energy	JQUA +0.5 points	4.1%	3.6%
Consumer Discretionary	QUAL +0.4 points	8.9%	9.3%
Materials	JQUA +0.1 points	1.9%	1.8%

Country, concentration and asset class

Country by domicile

Country weights in JQUA and QUAL, widest gap first
Country	More in JQUAMore in QUAL	JQUA	QUAL
United States	JQUA +0.7 points	99.5%	98.8%
Switzerland	QUAL +0.7 points	0.5%	1.2%

Concentration

Weight in the 10 largest Holdings

JQUA18.7%
QUAL44.8%

Securities held

JQUA308
QUAL118

Asset class

JQUA: Equity
QUAL: Equity

Holdings

Only in JQUA228
In both80
Only in QUAL38

Only in JQUA

228 securities, 57.1% of JQUA by weight

Advanced Micro Devices1.83%
Broadcom Inc Common1.80%
Micron Technology Inc1.72%
AbbVie Inc Common Stock1.40%
Palantir Technologies Inc1.23%
Cisco Systems Inc Common1.17%
Palo Alto Networks Inc0.95%
Home Depot Inc/The0.95%
Texas Instruments Inc0.91%
Crowdstrike Holdings Inc0.86%
Chevron Corp Common Stock0.78%
Analog Devices Inc0.74%
Ge Vernova Inc Common0.71%
Union Pacific Corp0.65%
Salesforce.com Inc.0.63%
Qualcomm Inc Common Stock0.63%
Mcdonald's Corp Common0.59%
Altria Group Inc Common0.55%
Sandisk Corp Common0.55%
Philip Morris0.48%
Western Digital Corp0.47%
Conocophillips Common0.45%
Bristol-Myers Squibb Co0.45%
Snowflake Inc Common0.44%
Starbucks Corp Common0.42%
Waste Management Inc0.41%
Datadog Inc Common Stock0.41%
Skyworks Solutions Inc0.41%
Servicenow Inc Common0.41%
Marriott International0.40%
Colgate-Palmolive Company0.40%
Booking Holdings Inc0.37%
Aon PLC Common Stock USD0.36%
Hilton Worldwide Holdings0.35%
Regeneron Pharmaceuticals0.35%
Ebay Inc Common Stock USD0.34%
Republic Services Inc0.34%
Spotify Technology SA0.33%
Intercontinental Exchange0.33%
Mettler-Toledo0.33%
Okta Inc Common Stock0.33%
Ptc Inc Common Stock USD0.33%
O'reilly Automotive Inc0.31%
American Tower Corp Reit0.31%
Simon Property Group Inc0.30%
Monolithic Power Systems0.30%
Airbnb Inc Common Stock0.29%
Ciena Corp Common Stock0.29%
Keysight Technologies Inc0.29%
Trane Technologies PLC0.29%

Only in QUAL

38 securities, 17.2% of QUAL by weight

Eli Lilly4.48%
Arista Networks1.28%
Alphabet Class C1.26%
3M0.91%
Garmin0.84%
Prologis Reit0.74%
Trane Technologies PLC0.70%
Howmet Aerospace0.58%
Xcel Energy Inc0.53%
Comfort Systems Usa0.43%
Atmos Energy0.43%
Pultegroup0.41%
Charles Schwab0.40%
Sherwin Williams0.35%
Pepsico0.35%
Ameren0.34%
Ecolab0.32%
Slb0.31%
American Water Works0.31%
Vivmark Residential0.28%
Cbre Group Class A0.23%
Devon Energy0.20%
PayPal Holdings0.16%
Edwards Lifesciences0.16%
Waters Corp0.15%
Lennox International0.12%
Texas Pacific Land0.10%
Halliburton0.10%
West Pharmaceutical Services0.09%
Raymond James0.09%
Omnicom Group Inc0.09%
T Rowe Price Group0.08%
Coeur Mining0.07%
Fabrinet0.07%
Regions Financial0.07%
Hershey Foods0.05%
Tradeweb Markets Inc Class A0.04%
Mccormick & Co Non-Voting0.02%

Weight gaps

All 80 Holdings in both funds, largest gap first.

Holding weights in JQUA and QUAL, widest gap first
Holding	More in JQUAMore in QUAL	JQUA	QUAL
Microsoft Corp CommonMSFT	QUAL +5.91 points	2.06%	7.97%
Apple Inc Common StockAAPL	QUAL +5.23 points	2.12%	7.35%
NVIDIA Corp Common StockNVDA	QUAL +4.17 points	1.75%	5.92%
Tjx Cos Inc/The CommonTJX	QUAL +2.97 points	0.55%	3.52%
Meta Platforms Inc CommonMETA	QUAL +2.28 points	1.76%	4.04%
Lam Research Corp CommonLRCX	QUAL +2.03 points	0.80%	2.83%
Visa Inc Common Stock USDV	QUAL +1.64 points	1.91%	3.55%
Applied Materials IncAMAT	QUAL +1.58 points	0.79%	2.37%
Kla Corp Common Stock USDKLAC	QUAL +1.44 points	0.68%	2.12%
Netflix Inc Common StockNFLX	QUAL +1.39 points	0.08%	1.47%
Ross Stores Inc CommonROST	QUAL +1.05 points	0.35%	1.40%
Mastercard Inc CommonMA	QUAL +1.02 points	1.50%	2.52%
Automatic Data ProcessingADP	QUAL +0.86 points	0.43%	1.29%
Walmart Inc Common StockWMT	QUAL +0.85 points	0.23%	1.08%
The Coca-Cola CompanyKO	QUAL +0.71 points	0.15%	0.86%
Chipotle Mexican GrillCMG	QUAL +0.65 points	0.19%	0.84%
Exxonmobil Holdings CorpXOM	QUAL +0.60 points	2.01%	2.61%
Fortinet Inc Common StockFTNT	QUAL +0.58 points	0.38%	0.96%
Johnson & Johnson CommonJNJ	QUAL +0.57 points	1.61%	2.18%
Adobe Inc Common StockADBE	QUAL +0.54 points	0.43%	0.97%
Lockheed Martin CorpLMT	QUAL +0.54 points	0.50%	1.04%
Williams-Sonoma IncWSM	QUAL +0.49 points	0.27%	0.76%
Accenture PLC CommonACN	QUAL +0.46 points	0.59%	1.05%
Fastenal Co Common StockFAST	QUAL +0.46 points	0.09%	0.55%
Ulta Beauty Inc CommonULTA	QUAL +0.44 points	0.17%	0.61%
Illinois Tool Works IncITW	QUAL +0.39 points	0.36%	0.75%
Cintas Corp Common StockCTAS	QUAL +0.34 points	0.34%	0.68%
Linde PLC Common StockLIN	QUAL +0.33 points	0.75%	1.08%
Merck & Co Inc CommonMRK	QUAL +0.31 points	1.11%	1.42%
Consolidated EdisonED	QUAL +0.30 points	0.21%	0.51%
Vertex PharmaceuticalsVRTX	QUAL +0.30 points	0.19%	0.49%
Emcor Group Inc CommonEME	QUAL +0.23 points	0.02%	0.25%
Best Buy Co Inc CommonBBY	QUAL +0.23 points	0.15%	0.38%
Ww Grainger Inc CommonGWW	QUAL +0.21 points	0.32%	0.53%
Berkshire Hathaway IncBRK.B	QUAL +0.21 points	1.73%	1.94%
Nvr Inc Common Stock USDNVR	QUAL +0.21 points	0.13%	0.34%
United Therapeutics CorpUTHR	JQUA +0.20 points	0.28%	0.08%
Monster Beverage CorpMNST	JQUA +0.20 points	0.37%	0.17%
Cboe Global Markets IncCBOE	JQUA +0.18 points	0.30%	0.12%
Church & Dwight Co IncCHD	JQUA +0.17 points	0.22%	0.05%
Marsh & Mclennan Cos IncMRSH	JQUA +0.17 points	0.46%	0.29%
Arch Capital Group LtdACGL	JQUA +0.16 points	0.26%	0.10%
Aflac Inc Common StockAFL	JQUA +0.15 points	0.31%	0.16%
Applovin Corp CommonAPP	QUAL +0.15 points	0.28%	0.43%
W R Berkley CorporationWRB	JQUA +0.15 points	0.20%	0.05%
The Procter & GamblePG	JQUA +0.14 points	1.05%	0.91%
Travelers Cos Inc/TheTRV	JQUA +0.15 points	0.41%	0.26%
Intuit Inc Common StockINTU	QUAL +0.14 points	0.43%	0.57%
BlackRock Inc CommonBLK	JQUA +0.13 points	0.63%	0.50%
Alphabet Inc-Cl A -GOOGL	QUAL +0.13 points	1.47%	1.60%
Motorola Solutions IncMSI	QUAL +0.12 points	0.33%	0.45%
Deckers Outdoor CorpDECK	QUAL +0.12 points	0.17%	0.29%
Chubb Ltd Common StockCB	JQUA +0.12 points	0.47%	0.35%
Cadence Design SystemsCDNS	QUAL +0.11 points	0.43%	0.54%
Resmed Inc Common StockRMD	JQUA +0.11 points	0.23%	0.12%
Costco Wholesale CorpCOST	JQUA +0.10 points	1.27%	1.17%
Willis Towers Watson PLCWTW	JQUA +0.10 points	0.19%	0.09%
F5 Inc Common Stock USD 0FFIV	JQUA +0.10 points	0.22%	0.12%
Hartford Insurance GroupHIG	JQUA +0.09 points	0.21%	0.12%
Cognizant TechnologyCTSH	JQUA +0.09 points	0.28%	0.19%
Old Dominion FreightODFL	QUAL +0.09 points	0.15%	0.24%
Paychex Inc Common StockPAYX	QUAL +0.08 points	0.20%	0.28%
Expand Energy Corp CommonEXE	JQUA +0.07 points	0.14%	0.07%
Dexcom Inc Common StockDXCM	JQUA +0.06 points	0.18%	0.12%
Public Storage Reit USDPSA	QUAL +0.06 points	0.26%	0.32%
Eog Resources Inc CommonEOG	QUAL +0.05 points	0.30%	0.35%
Gilead Sciences IncGILD	QUAL +0.05 points	0.75%	0.80%
Netapp Inc Common StockNTAP	JQUA +0.05 points	0.31%	0.26%
Moody's Corp CommonMCO	JQUA +0.05 points	0.36%	0.31%
Ameriprise Financial IncAMP	JQUA +0.05 points	0.26%	0.21%
Zoetis Inc Common StockZTS	JQUA +0.05 points	0.20%	0.15%
Rollins Inc Common StockROL	JQUA +0.03 points	0.12%	0.09%
Teradyne Inc Common StockTER	QUAL +0.03 points	0.23%	0.26%
Idexx Laboratories IncIDXX	QUAL +0.02 points	0.26%	0.28%
Autodesk Inc CommonADSK	QUAL +0.01 points	0.36%	0.37%
Progressive Corp/ThePGR	QUAL +0.02 points	0.41%	0.43%
Jabil Inc Common StockJBL	QUAL +0.01 points	0.20%	0.21%
S&P Global Inc CommonSPGI	JQUA +0.01 points	0.41%	0.40%
Cme Group Inc CommonCME	Same weight	0.36%	0.36%
Expeditors InternationalEXPD	Same weight	0.23%	0.23%

All 308 JQUA holdings⁠All 118 QUAL 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.

JQUA vs QUAL Cost

Overpaying QUAL vs JQUA

$617

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

JQUA 0.12%
$2,520
QUAL 0.15%
$3,137

Amount$10,000

Years30 years

Cost over time

JQUA 0.12%
QUAL 0.15%
Overpaying

Year by year

Year	JQUA	QUAL	Overpaying
10	$220	$274	$54
20	$859	$1,071	$212
30	$2,520	$3,137	$617

Expense ratio

0.12%JQUA, cheaper
0.15%QUAL

JQUA0.12%QUAL0.15%

0.12%0.60%

Middle half of US Quality Index funds
Median 0.39%

JQUA cheapest of 26 funds

QUAL 3rd cheapest of 26 funds

JQUA vs QUAL Dividends

Last 12 months to Oct 30, 2026

Yield (12M): JQUA 1.05%, better; QUAL 0.85%
Payout (12M): JQUA $0.79; QUAL $1.89
Last payment: JQUA $0.18; QUAL $0.47
Ex-dividend: JQUA Sep 22, 2026; QUAL Sep 15, 2026
Paid on: JQUA Sep 24, 2026; QUAL Sep 18, 2026
Frequency: JQUA Quarterly; QUAL Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

JQUAQuarterly · 37 paymentsAll JQUA payments⁠

QUALQuarterly · 40 paymentsAll QUAL payments⁠

JQUA vs QUAL Risk

Fall from peak · 5 years

JQUA
QUAL

Risk facts

VolatilityStd dev, 3 years: JQUA 11.6%, betterQUAL 11.7%
Return per unit of riskSharpe ratio, 3 years: JQUA 1.47, betterQUAL 1.32
Worst fallMax drawdown, 5 years: JQUA −22.5%, betterQUAL −28.2%
Market sensitivityBeta, 5 years: JQUA 0.91QUAL 0.90; Market = 1

JQUA and QUAL in the news

All news⁠

New ETFs
Jensen's first passive ETF charges 0.25% for a 10-year profit test
Oct 5, 2026JQUAQUAL
Category Review
Cash-flow quality returned 42% while QUAL returned 17%
Updated Sep 22, 2026JQUAQUAL
New ETFs
Two old strategies got ETF tickers. Jensen's new one lets a rule pick the stocks.
Oct 5, 2026QUAL

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JQUA vs QUAL

In short

Stated mandate

Why people hold it