JUSA vs NBGX: Grades, Fees and Holdings Compared

JPMorgan U.S. Research Enhanced Large Cap ETF

JUSAANYSE Arca

Neuberger Growth ETF

NBGXDNYSE Arca

Overlap

46.0%by weight

Expense ratio

JUSA −2.65pt a year

JUSA0.18%NBGX2.83%

Avg volume · 30D

JUSA 178.3×the volume

JUSA98.8KNBGX554

JUSA vs NBGX Performance

Oct 31, 2025 – Oct 30, 2026

+10.8%JUSA+1.1%NBGX

Expense ratio: JUSA 0.18%, better; NBGX 2.83%
Fund size: JUSA $745M; NBGX $15M
1Y total return: JUSA +10.8%, better; NBGX +1.1%
Yield (12M): JUSA 0.72%; NBGX No data
Holdings: JUSA 263; NBGX 58
Avg volume (30D): JUSA 98.8K sh, better; NBGX 554 sh
NAV per share: JUSA $67.75; NBGX $29.65
52W range

ETF.net Grade

Pillar letters and Scores for JUSA, NBGX, with each pillar’s weight
Pillar	JUSA	NBGX
Cost30% weight	A99Higher	F0
Mission25% weight	A84	Not scored
Risk15% weight	A92Higher	B63
Tradability15% weight	B58Higher	D39
Holdings10% weight	A84Higher	B67
Durability5% weight	A76Higher	D29

Rank among US Active Growth funds

How we build Categories ›

Same Category. JUSA and NBGX 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 NBGX 79th 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 79DARWGArcher Growth ETFScore 31
Rank 79DNBGXNeuberger Growth ETFScore 31
Rank 81DTSELTouchstone Sands Capital US Select Growth ETFScore 27

Our read on each fund

ETF.net Research

JUSAAJPMorgan U.S. Research Enhanced Large Cap ETF

NBGXDNeuberger Growth ETF

In short

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.

NBGX No data

Stated mandate

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.

NBGX No data

Why people hold it

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.

NBGX No data

Worth knowing

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

NBGX No data

Full JUSA profile⁠

Full NBGX profile⁠

JUSA vs NBGX Holdings

How JUSA and NBGX differ

Overlap by weight

46.0%

Shared holdings make up 78.4% of NBGX and 50.5% of JUSA.

Level by level

Holdings37 in both46.0%
Sector11 Sectors86.7%
Countryby domicile89.9%
Asset classEquity100%

Sector

Sector weights in JUSA and NBGX, widest gap first
Sector	More in JUSAMore in NBGX	JUSA	NBGX
Communication	NBGX +7.5 points	10.0%	17.5%
Technology	NBGX +4.2 points	40.7%	44.9%
Financials	JUSA +3.4 points	11.1%	7.7%
Energy	JUSA +2.7 points	3.3%	0.6%
Health Care	JUSA +2.2 points	9.0%	6.8%
Consumer Staples	JUSA +1.9 points	3.6%	1.7%
Materials	JUSA +1.6 points	1.6%	0.0%
Industrials	NBGX +1.3 points	7.3%	8.6%
Real Estate	JUSA +1.3 points	1.7%	0.4%
Consumer Discretionary	NBGX +0.2 points	9.8%	10.0%
Utilities	JUSA +0.2 points	1.9%	1.7%

Country, concentration and asset class

Country by domicile

Country weights in JUSA and NBGX, widest gap first
Country	More in JUSAMore in NBGX	JUSA	NBGX
United States	JUSA +10.0 points	99.9%	89.9%
Netherlands	NBGX +3.2 points	0.0%	3.2%
Taiwan	NBGX +2.9 points	0.0%	2.9%
Canada	NBGX +2.7 points	0.0%	2.7%
United Kingdom	NBGX +1.4 points	0.0%	1.4%
Other countries (2)	JUSA +0.1 points	0.1%	0.0%

Concentration

Weight in the 10 largest Holdings

JUSA37.8%
NBGX51.6%

Securities held

JUSA261
NBGX58

Asset class

JUSA: Equity
NBGX: Equity

Holdings

Only in JUSA224
In both37
Only in NBGX21

Only in JUSA

224 securities, 49.2% of JUSA by weight

Alphabet Inc-Cl C -1.93%
Exxonmobil Holdings Corp1.45%
Berkshire Hathaway Inc1.35%
JPMorgan Prime Money0.95%
Rtx Corp0.93%
Lam Research Corp Common0.84%
Wells Fargo & Co Common0.77%
Philip Morris0.75%
Conocophillips Common0.69%
UnitedHealth Group Inc0.67%
Bank of America Corp0.66%
Lowe's Cos Inc Common0.65%
Pepsico Inc Common Stock0.64%
3M Co Common Stock USD0.62%
Eog Resources Inc Common0.60%
Us Bancorp Common Stock0.59%
Palantir Technologies Inc0.57%
Trane Technologies PLC0.57%
Charles Schwab Corp/The0.56%
The Southern Company0.55%
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%
Howmet Aerospace Inc0.46%
Intel Corp Common Stock0.46%
Applied Materials Inc0.46%
Aon PLC Common Stock USD0.45%
Seagate Technology0.45%
Thermo Fisher Scientific0.45%
Regeneron Pharmaceuticals0.44%
Booking Holdings Inc0.42%
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%
Eaton Corp PLC Common0.39%
Capital One Financial0.39%
Nxp Semiconductors NV0.38%
Vertex Pharmaceuticals0.36%
Chipotle Mexican Grill0.36%
Sempra Common Stock USD0.35%
Cummins Inc Common Stock0.35%
Vertiv Holdings Co0.34%
Medtronic PLC Common0.34%

Only in NBGX

21 securities, 22.3% of NBGX by weight

Asml Holding NV Ny Reg Shs Ny Reg Shrs3.37%
Taiwan Semiconductor Sp Adr Adr2.81%
Ssc Government Mm Gvmxx2.70%
Brookfield Asset Mgmt A Common Stock1.64%
Nvent Electric PLC Common Stock1.38%
Tjx Companies Inc Common Stock1.30%
Synopsys Inc Common Stock1.24%
Centerpoint Energy Inc Common Stock1.16%
Shopify Inc Class A Common Stock0.97%
Itt Inc Common Stock0.86%
Live Nation Entertainment In Common Stock0.79%
Cloudflare Inc Class A Common Stock0.74%
Williams Cos Inc Common Stock0.70%
Waste Management Inc Common Stock0.63%
Salesforce Inc Common Stock0.45%
Space Exploration Techn Class A Common Stock0.36%
Marriott International Class A Common Stock0.35%
Okta Inc Common Stock0.27%
Boeing Co/The Common Stock0.25%
Jersey Mike’s Subs Inc Class A Common Stock0.16%
Waystar Holding Corp Common Stock0.14%

Weight gaps

All 37 Holdings in both funds, largest gap first.

Holding weights in JUSA and NBGX, widest gap first
Holding	More in JUSAMore in NBGX	JUSA	NBGX
Alphabet Inc-Cl A -GOOGL	NBGX +4.93 points	2.53%	7.46%
Meta Platforms Inc CommonMETA	NBGX +2.91 points	2.16%	5.07%
Apple Inc Common StockAAPL	JUSA +2.57 points	7.31%	4.74%
NVIDIA Corp Common StockNVDA	NBGX +2.34 points	7.86%	10.20%
Broadcom Inc CommonAVGO	NBGX +2.29 points	2.54%	4.83%
Home Depot Inc/TheHD	NBGX +2.10 points	0.07%	2.17%
Eli Lilly and CompanyLLY	NBGX +2.00 points	1.54%	3.54%
Amphenol Corp CommonAPH	NBGX +1.66 points	0.55%	2.21%
Visa Inc Common Stock USDV	NBGX +1.60 points	1.18%	2.78%
General Electric CoGE	NBGX +1.42 points	0.13%	1.55%
Mastercard Inc CommonMA	NBGX +1.27 points	1.27%	2.54%
Crowdstrike Holdings IncCRWD	NBGX +1.23 points	0.36%	1.59%
Sandisk Corp CommonSNDK	NBGX +1.14 points	0.22%	1.36%
Netflix Inc Common StockNFLX	NBGX +0.94 points	0.39%	1.33%
Advanced Micro DevicesAMD	JUSA +0.90 points	1.22%	0.32%
O'reilly Automotive IncORLY	NBGX +0.83 points	0.05%	0.88%
Caterpillar Inc CommonCAT	NBGX +0.81 points	0.16%	0.97%
Microsoft Corp CommonMSFT	JUSA +0.70 points	6.36%	5.66%
Micron Technology IncMU	NBGX +0.69 points	1.57%	2.26%
Costco Wholesale CorpCOST	NBGX +0.62 points	0.61%	1.23%
Tesla Inc Common StockTSLA	NBGX +0.50 points	1.42%	1.92%
Merck & Co Inc CommonMRK	NBGX +0.40 points	0.18%	0.58%
Union Pacific CorpUNP	NBGX +0.38 points	0.28%	0.66%
Nextera Energy IncNEE	NBGX +0.37 points	0.64%	1.01%
Deere & Co Common StockDE	NBGX +0.35 points	0.26%	0.61%
Intuitive Surgical IncISRG	NBGX +0.35 points	0.26%	0.61%
Ge Vernova Inc CommonGEV	NBGX +0.32 points	0.28%	0.60%
Citigroup Inc CommonC	JUSA +0.30 points	0.70%	0.40%
Servicenow Inc CommonNOW	NBGX +0.20 points	0.16%	0.36%
Morgan Stanley DeanMS	NBGX +0.17 points	0.43%	0.60%
AbbVie Inc Common StockABBV	NBGX +0.16 points	1.15%	1.31%
Walmart Inc Common StockWMT	NBGX +0.15 points	0.52%	0.67%
Johnson & Johnson CommonJNJ	NBGX +0.08 points	1.32%	1.40%
Amazon.com Inc CommonAMZN	JUSA +0.04 points	3.95%	3.91%
Equinix Inc Reit USDEQIX	NBGX +0.03 points	0.42%	0.45%
S&P Global Inc CommonSPGI	NBGX +0.04 points	0.21%	0.25%
Cme Group Inc CommonCME	NBGX +0.03 points	0.28%	0.31%

All 261 JUSA holdings⁠All 57 NBGX 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.

JUSA vs NBGX Cost

Overpaying NBGX vs JUSA

$38,311

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

JUSA 0.18%
$3,749
NBGX 2.83%
$42,060

Amount$10,000

Years30 years

Cost over time

JUSA 0.18%
NBGX 2.83%
Overpaying

Year by year

Year	JUSA	NBGX	Overpaying
10	$328	$4,625	$4,297
20	$1,281	$16,058	$14,777
30	$3,749	$42,060	$38,311

Expense ratio

0.18%JUSA, cheaper
2.83%NBGX

JUSA0.18%NBGX2.83%

0.18%2.83%

Middle half of US Active Growth funds
Median 0.55%

JUSA cheapest of 90 funds

NBGX 90th cheapest of 90 funds

JUSA vs NBGX Dividends

Last 12 months to Oct 30, 2026

Yield (12M): JUSA 0.72%; NBGX No data
Payout (12M): JUSA $0.49; NBGX No data
Last payment: JUSA $0.13; NBGX $0.12
Ex-dividend: JUSA Sep 22, 2026; NBGX Dec 19, 2025
Paid on: JUSA Sep 24, 2026; NBGX Dec 24, 2025
Frequency: JUSA Quarterly; NBGX Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

JUSAQuarterly · 6 paymentsAll JUSA payments⁠

NBGXIrregular · 1 paymentAll NBGX payments⁠

JUSA vs NBGX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: JUSA 11.6%since Apr 2025NBGX 16.2%since Jan 2025
Return per unit of riskSharpe ratio, 3 years: JUSA 1.41since Apr 2025NBGX 0.46since Jan 2025
Worst fallMax drawdown, 5 years: JUSA −14.0%since Mar 2025NBGX −21.6%since Dec 2024
Market sensitivityBeta, 5 years: JUSA 0.98NBGX 1.21; Market = 1

JUSA and NBGX 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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JUSA vs NBGX

In short

Stated mandate

Why people hold it

Worth knowing

How JUSA and NBGX differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in JUSA

Only in NBGX

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 JUSA and NBGX differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in JUSA

Only in NBGX

Weight gaps