JUSA vs TGRW: Grades, Fees and Holdings Compared

JPMorgan U.S. Research Enhanced Large Cap ETF

JUSAANYSE Arca

T. Rowe Price Growth Stock ETF

TGRWCNYSE Arca

Overlap

46.5%by weight

Expense ratio

JUSA −0.34pt a year

JUSA0.18%TGRW0.52%

Avg volume · 30D

JUSA 1.9×the volume

JUSA98.8KTGRW51.3K

JUSA vs TGRW Performance

Oct 31, 2025 – Oct 30, 2026

+10.8%JUSA−4.6%TGRW

Expense ratio: JUSA 0.18%, better; TGRW 0.52%
Fund size: JUSA $745M; TGRW $1.1B
1Y total return: JUSA +10.8%, better; TGRW −4.6%
Yield (12M): JUSA 0.72%, better; TGRW 0.00%
Holdings: JUSA 263; TGRW 70
Avg volume (30D): JUSA 98.8K sh, better; TGRW 51.3K sh
NAV per share: JUSA $67.75; TGRW $45.05
52W range

ETF.net Grade

Pillar letters and Scores for JUSA, TGRW, with each pillar’s weight
Pillar	JUSA	TGRW
Cost30% weight	A99Higher	B55
Mission25% weight	A84	Not scored
Risk15% weight	A92Higher	D39
Tradability15% weight	B58	B66Higher
Holdings10% weight	A84Higher	D37
Durability5% weight	A76	A86Higher

Rank among US Active Growth funds

How we build Categories ›

Same Category. JUSA and TGRW 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 TGRW 38th 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 38CTCHPT. Rowe Price Blue Chip Growth ETFScore 53
Rank 38CTGRWT. Rowe Price Growth Stock ETFScore 53
Rank 41CBRIFFIS Bright Portfolios Focused Equity ETFScore 52

Our read on each fund

ETF.net Research

JUSAAJPMorgan U.S. Research Enhanced Large Cap ETF

TGRWCT. Rowe Price Growth Stock 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.

TGRW T. Rowe Price's first swing at active ETFs, and it doesn't show its cards. TGRW runs a concentrated growth portfolio while publishing a proxy basket instead of a daily holdings list.

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.

TGRW The fund seeks long-term capital growth, with income as a secondary objective.

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.

TGRW Semi-transparent by design: instead of daily holdings, it publishes a proxy portfolio built to track the real book closely, keeping the manager's picks out of public view.troweprice.com
A concentrated lineup of roughly 70 stocks picked for earnings and cash flow growth, not an index tracker with a fee stapled on.troweprice.com
At 0.52%, it comes in under the typical fund in its conviction-growth peer group, and it sits in the upper half of that group overall.
Live since 2020, run by a firm whose reputation was built on hands-on growth stock research rather than index licensing.troweprice.com

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

TGRW Thinly traded next to index heavyweights. T. Rowe itself notes that traders given less holdings information tend to charge more, so the buy/sell gap can widen.troweprice.com
Cheaper large-cap growth rivals exist: FELG charges 0.18% and JUSA 0.12%, though both lean on enhanced-index machinery rather than a concentrated stock-picker's book.
Growth comes first here. Income is only a secondary objective, and the fund's distribution schedule is annual.

Full JUSA profile⁠

Full TGRW profile⁠

JUSA vs TGRW Holdings

How JUSA and TGRW differ

Overlap by weight

46.5%

Shared holdings make up 90.8% of TGRW and 51.9% of JUSA.

Level by level

Holdings48 in both46.5%
Sector11 Sectors76.9%
Countryby domicile96.4%
Asset classEquity100%

Sector

Sector weights in JUSA and TGRW, widest gap first
Sector	More in JUSAMore in TGRW	JUSA	TGRW
Technology	TGRW +15.5 points	40.7%	56.2%
Communication	TGRW +7.5 points	10.0%	17.5%
Financials	JUSA +6.1 points	11.1%	5.0%
Consumer Staples	JUSA +3.5 points	3.6%	0.1%
Energy	JUSA +3.3 points	3.3%	0.0%
Health Care	JUSA +3.3 points	9.0%	5.7%
Consumer Discretionary	JUSA +2.4 points	9.8%	7.4%
Utilities	JUSA +1.9 points	1.9%	0.0%
Real Estate	JUSA +1.1 points	1.7%	0.6%
Materials	JUSA +1.1 points	1.6%	0.5%
Industrials	JUSA +0.4 points	7.3%	6.9%

Country, concentration and asset class

Country by domicile

Country weights in JUSA and TGRW, widest gap first
Country	More in JUSAMore in TGRW	JUSA	TGRW
United States	JUSA +3.5 points	99.9%	96.3%
Taiwan	TGRW +1.2 points	0.0%	1.2%
Netherlands	TGRW +0.9 points	0.0%	0.8%
Canada	TGRW +0.7 points	0.0%	0.7%
Other countries (4)	TGRW +0.9 points	0.1%	0.9%

Concentration

Weight in the 10 largest Holdings

JUSA37.8%
TGRW63.4%

Securities held

JUSA261
TGRW70

Asset class

JUSA: Equity
TGRW: Equity

Holdings

Only in JUSA213
In both48
Only in TGRW22

Only in JUSA

213 securities, 47.9% of JUSA by weight

Alphabet Inc-Cl C -1.93%
Exxonmobil Holdings Corp1.45%
Berkshire Hathaway Inc1.35%
Johnson & Johnson Common1.32%
AbbVie Inc Common Stock1.15%
JPMorgan Prime Money0.95%
Rtx Corp0.93%
Wells Fargo & Co Common0.77%
Philip Morris0.75%
Citigroup Inc Common0.70%
Conocophillips Common0.69%
Bank of America Corp0.66%
Lowe's Cos Inc Common0.65%
Nextera Energy Inc0.64%
Pepsico Inc Common Stock0.64%
3M Co Common Stock USD0.62%
Eog Resources Inc Common0.60%
Us Bancorp Common Stock0.59%
Trane Technologies PLC0.57%
The Southern Company0.55%
Walmart Inc Common Stock0.52%
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%
Aon PLC Common Stock USD0.45%
Seagate Technology0.45%
Regeneron Pharmaceuticals0.44%
Equinix Inc Reit USD0.42%
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%
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%
Progressive Corp/The0.34%
Ventas Inc Reit USD 0.250.33%
Autozone Inc Common Stock0.33%
Entergy Corp Common Stock0.33%
Ross Stores Inc Common0.32%
General Dynamics Corp0.31%

Only in TGRW

22 securities, 9.2% of TGRW by weight

Taiwan Semiconductor Manufacturing1.21%
ASML Holding0.88%
Carvana0.73%
Shopify0.70%
Space Exploration Technologies0.70%
Spotify Technology0.69%
Cintas0.59%
Argenx0.42%
Boeing0.41%
Live Nation Entertainment0.35%
MercadoLibre0.34%
Heico0.34%
Sea0.30%
Ferrari0.27%
Samsara0.25%
Old Dominion Freight Line0.24%
Fabrinet0.22%
Kymera therapeutics0.16%
Cerebras Systems0.15%
Sherwin-Williams0.10%
Natera0.10%
Marsh & McLennan0.03%

Weight gaps

All 48 Holdings in both funds, largest gap first.

Holding weights in JUSA and TGRW, widest gap first
Holding	More in JUSAMore in TGRW	JUSA	TGRW
NVIDIA Corp Common StockNVDA	TGRW +8.95 points	7.86%	16.81%
Alphabet Inc-Cl A -GOOGL	TGRW +8.66 points	2.53%	11.19%
Advanced Micro DevicesAMD	TGRW +3.09 points	1.22%	4.30%
Broadcom Inc CommonAVGO	TGRW +2.86 points	2.54%	5.40%
Amazon.com Inc CommonAMZN	JUSA +2.45 points	3.95%	1.50%
Meta Platforms Inc CommonMETA	TGRW +2.00 points	2.16%	4.16%
Micron Technology IncMU	TGRW +1.78 points	1.57%	3.35%
Eli Lilly and CompanyLLY	TGRW +1.67 points	1.54%	3.21%
General Electric CoGE	TGRW +1.50 points	0.13%	1.63%
Snowflake Inc CommonSNOW	TGRW +1.20 points	0.14%	1.34%
Visa Inc Common Stock USDV	TGRW +1.10 points	1.18%	2.28%
Applied Materials IncAMAT	TGRW +1.00 points	0.46%	1.46%
Crowdstrike Holdings IncCRWD	TGRW +0.95 points	0.36%	1.31%
Tesla Inc Common StockTSLA	TGRW +0.95 points	1.42%	2.37%
Lam Research Corp CommonLRCX	TGRW +0.81 points	0.84%	1.65%
Netflix Inc Common StockNFLX	TGRW +0.74 points	0.39%	1.13%
Servicenow Inc CommonNOW	TGRW +0.70 points	0.16%	0.86%
Microsoft Corp CommonMSFT	JUSA +0.60 points	6.36%	5.76%
Caterpillar Inc CommonCAT	TGRW +0.57 points	0.16%	0.73%
Welltower IncWELL	TGRW +0.57 points	0.08%	0.65%
Mastercard Inc CommonMA	TGRW +0.57 points	1.27%	1.84%
Intuitive Surgical IncISRG	TGRW +0.55 points	0.26%	0.81%
Costco Wholesale CorpCOST	JUSA +0.52 points	0.61%	0.09%
Amphenol Corp CommonAPH	TGRW +0.47 points	0.55%	1.02%
Charles Schwab Corp/TheSCHW	JUSA +0.46 points	0.56%	0.10%
Apple Inc Common StockAAPL	JUSA +0.45 points	7.31%	6.86%
UnitedHealth Group IncUNH	JUSA +0.43 points	0.67%	0.24%
Hilton Worldwide HoldingsHLT	TGRW +0.38 points	0.21%	0.59%
Teledyne Technologies IncTDY	TGRW +0.36 points	0.04%	0.40%
Ge Vernova Inc CommonGEV	TGRW +0.34 points	0.28%	0.62%
Howmet Aerospace IncHWM	TGRW +0.31 points	0.46%	0.77%
Vertiv Holdings CoVRT	TGRW +0.31 points	0.34%	0.65%
Linde PLC Common StockLIN	TGRW +0.27 points	0.14%	0.41%
Doordash Inc CommonDASH	TGRW +0.27 points	0.23%	0.50%
Chubb Ltd Common StockCB	TGRW +0.25 points	0.09%	0.34%
Westinghouse Air BrakeWAB	TGRW +0.20 points	0.03%	0.23%
Ciena Corp Common StockCIEN	TGRW +0.19 points	0.07%	0.26%
Thermo Fisher ScientificTMO	JUSA +0.20 points	0.45%	0.25%
Chipotle Mexican GrillCMG	JUSA +0.18 points	0.36%	0.18%
Booking Holdings IncBKNG	TGRW +0.18 points	0.42%	0.60%
Intel Corp Common StockINTC	TGRW +0.16 points	0.46%	0.62%
Palantir Technologies IncPLTR	TGRW +0.15 points	0.57%	0.72%
Oracle Corp Common StockORCL	TGRW +0.14 points	0.27%	0.41%
Danaher Corp CommonDHR	TGRW +0.13 points	0.06%	0.19%
Stryker Corp Common StockSYK	JUSA +0.10 points	0.39%	0.29%
Arista Networks IncANET	TGRW +0.03 points	0.27%	0.30%
Morgan Stanley DeanMS	JUSA +0.02 points	0.43%	0.41%
T-Mobile Us Inc CommonTMUS	JUSA +0.02 points	0.04%	0.02%

All 261 JUSA holdings⁠All 73 TGRW 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 TGRW Cost

Overpaying TGRW vs JUSA

$6,602

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

JUSA 0.18%
$3,749
TGRW 0.52%
$10,351

Amount$10,000

Years30 years

Cost over time

JUSA 0.18%
TGRW 0.52%
Overpaying

Year by year

Year	JUSA	TGRW	Overpaying
10	$328	$935	$607
20	$1,281	$3,593	$2,312
30	$3,749	$10,351	$6,602

Expense ratio

0.18%JUSA, cheaper
0.52%TGRW

JUSA0.18%TGRW0.52%

0.18%2.83%

Middle half of US Active Growth funds
Median 0.55%

JUSA cheapest of 90 funds

TGRW 41st cheapest of 90 funds

JUSA vs TGRW Dividends

Last 12 months to Oct 30, 2026

Yield (12M): JUSA 0.72%, better; TGRW 0.00%
Payout (12M): JUSA $0.49; TGRW None
Last payment: JUSA $0.13; TGRW No data
Ex-dividend: JUSA Sep 22, 2026; TGRW No data
Paid on: JUSA Sep 24, 2026; TGRW No data
Frequency: JUSA Quarterly; TGRW No data

Distribution history

Per share, 2020 to 2026, same scale for both

JUSAQuarterly · 6 paymentsAll JUSA payments⁠

TGRW3 paymentsAll TGRW payments⁠

JUSA vs TGRW 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 2025TGRW 17.5%
Return per unit of riskSharpe ratio, 3 years: JUSA 1.41since Apr 2025TGRW 0.83
Worst fallMax drawdown, 5 years: JUSA −14.0%since Mar 2025TGRW −43.3%
Market sensitivityBeta, 5 years: JUSA 0.98TGRW 1.22; Market = 1

JUSA and TGRW 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

Popular comparisons

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JUSA vs TGRW

In short

Stated mandate

Why people hold it

Worth knowing

How JUSA and TGRW differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in JUSA

Only in TGRW

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 TGRW differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in JUSA

Only in TGRW

Weight gaps