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JUSA vs TFGZ

JPMorgan U.S. Research Enhanced Large Cap ETF

JUSAANYSE Arca

Thornburg Focus Growth Fund

TFGZDNasdaq

Overlap

Expense ratio

JUSA −0.61pt a year

JUSA0.18%TFGZ0.79%

Avg volume · 30D

JUSA 47.8×the volume

JUSA98.8KTFGZ2.07K

JUSA vs TFGZ Performance

Jul 31, 2026 – Nov 2, 2026

0.0%JUSA−7.4%TFGZ

Jul 31, 2026 to Nov 2, 2026. JUSA 0.0%. TFGZ −7.4%. Use the arrow keys to read each point.−5%−2.5%2.5%5%7.5%Jul 2026Sep 2026Nov 2026
Expense ratio
JUSA 0.18%, better
TFGZ 0.79%
Fund size
JUSA $745M
TFGZ $226M
1Y total return
JUSA +10.3%
TFGZ No data
Yield (12M)
JUSA 0.72%
TFGZ No data
Holdings
JUSA 265
TFGZ 42
Avg volume (30D)
JUSA 98.8K sh, better
TFGZ 2.07K sh
NAV per share
JUSA $67.75
TFGZ $33.34
52W range

ETF.net Grade

JUSA: Cost 99, Risk 92, Mission 84, Tradability 59, Holdings 83, Durability 76. TFGZ: Cost 13, Risk 73, Mission not scored, Tradability 32, Holdings 72, Durability 39.
Pillar letters and Scores for JUSA, TFGZ, with each pillar’s weight
PillarJUSATFGZ
Cost30% weightA99HigherF13
Mission25% weightA84Not scored
Risk15% weightA92HigherA73
Tradability15% weightB59HigherD32
Holdings10% weightA83HigherA72
Durability5% weightA76HigherD39

Rank among US Active Growth funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. JUSA and TFGZ 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 TFGZ 70th of 90 funds in the US Active Growth Category.

  1. Rank 1AJUSAJPMorgan U.S. Research Enhanced Large Cap ETFScore 86
  2. Rank 2AGUSEGoldman Sachs Enhanced U.S. Equity ETFScore 84
  3. Rank 70DLCLGLogan Capital Broad Innovative Growth ETFScore 38
  4. Rank 70DTFGZThornburg Focus Growth FundScore 38
  5. Rank 72DBWQGBWM Quality Growth ETFScore 37

Our read on each fund

ETF.net Research

JUSAAJPMorgan U.S. Research Enhanced Large Cap ETF

TFGZDThornburg Focus Growth Fund

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.

TFGZ Thornburg's 2026 entry in U.S. growth: large-cap names picked one at a time for above-average earnings and cash-flow growth, built bottom-up rather than off a forecast for the economy.

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.

TFGZ The fund invests mainly in U.S. equities and pursues growth by selecting companies with above-average earnings and cash-flow growth, often emphasizing large-cap issuers. Its portfolio is built bottom-up around individual stock evaluation rather than broad economic-cycle analysis.

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.
  • TFGZ The mandate is specific, not vague 'growth': U.S. companies with above-average earnings and cash-flow growth, with an emphasis on large caps.
  • Bottom-up by design. Each holding is judged on its own numbers rather than slotted in from a view on the economic cycle.
  • Growth is stated up front in the fund's own documents, so the style is declared rather than reverse-engineered from the holdings list.
  • A pure U.S. equity book: no currency translation or foreign market hours layered on top of the stock picking.

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
  • TFGZ Costs 0.79% a year, above the 0.54% median for its active U.S. growth peers and well above enhanced-index rivals like JUSA (0.12%) and FELG (0.18%).
  • New in 2026, small, and thinly traded: spreads can run wider than in the category's giants, and there is little history to judge the manager's hand.
  • Built for growth, not income. It has not been paying distributions, so results ride on share price alone.

Full JUSA profile⁠

Full TFGZ profile⁠

JUSA vs TFGZ 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 TFGZ Cost

Overpaying TFGZ vs JUSA

$11,425

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

  • JUSA 0.18%

    $3,749

  • TFGZ 0.79%

    $15,174

$10,000
30 years

Cost over time

  • JUSA 0.18%
  • TFGZ 0.79%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530TFGZ $15,174JUSA $3,749

Year by year

YearJUSATFGZOverpaying
10$328$1,405$1,077
20$1,281$5,331$4,050
30$3,749$15,174$11,425

Expense ratio

  • 0.18%JUSA, cheaper
  • 0.79%TFGZ
  • Middle half of US Active Growth funds
  • Median 0.55%

JUSA cheapest of 90 funds

TFGZ 78th cheapest of 90 funds

JUSA vs TFGZ Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
JUSA 0.72%
TFGZ No data
Payout (12M)
JUSA $0.49
TFGZ None
Last payment
JUSA $0.13
TFGZ No data
Ex-dividend
JUSA Sep 22, 2026
TFGZ No data
Paid on
JUSA Sep 24, 2026
TFGZ No data
Frequency
JUSA Quarterly
TFGZ No data

Distribution history

Per share, 2025 to 2026, same scale for both

JUSAQuarterly · 6 paymentsAll JUSA payments⁠
One bar per payment. 6 payments from 2025 to 2026 YTD. Jun 24, 2025 $0.11; Sep 23, 2025 $0.15; Dec 16, 2025 $0.18; Mar 24, 2026 $0.11; Jun 23, 2026 $0.06; Sep 22, 2026 $0.13. Use the arrow keys to read each point.$0$0.202026YTD
TFGZAll TFGZ payments⁠

No distribution history available.

JUSA vs TFGZ 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 2025TFGZ No data
Return per unit of riskSharpe ratio, 3 years
JUSA 1.41since Apr 2025TFGZ No data
Worst fallMax drawdown, 5 years
JUSA −14.0%since Mar 2025TFGZ No data
Market sensitivityBeta, 5 years
JUSA 0.98TFGZ 1.33

JUSA and TFGZ in the news

All news⁠

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