At a glance
JQUA charges 0.12% a year, below the 0.14% average of the 8 funds most like it (the 5th cheapest of 9). It has $8.22B in assets, the 4th largest of that group; it paid 1.05% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +21.6% with distributions reinvested (S&P 500: +11.5%), the best of those 9 funds; over three years it returned +24.2% a year. At its worst it fell 32.9% in the 2020 crash (S&P 500: 33.7%) and 21.9% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 5 months and 9 months after the lows. Its ten largest positions make up 18.6% of the fund, out of 308 in all.
The short version
JPMorgan U.S. Quality Factor ETF (JQUA) is an index fund that holds about 300 large and mid-sized U.S. companies. They are picked from the Russell 1000 for strong profits, reliable earnings and sound balance sheets. Its 0.12% annual fee is higher than S&P 500 funds such as VOO (0.03%) but lower than quality-tilted peers QUS (0.15%) and QARP (0.19%). It also spreads its money widely: no stock was more than about 2.1% of assets as of July 31, 2026.
Price history
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JQUA +21.6% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| JQUA official prospectus, to Dec 31, 2025 | — | +11.75% | — | +13.56% | — | +13.82% |
| JQUA price data to Oct 27, 2026 | +22.1% | +21.6% | +24.2% | +13.8% | — | +15.1% |
- Over the year to Oct 27, 2026, JQUA returned +21.6%, 1st of 9 among similar funds.
- Its 5-year annualized return was +13.8%.
- In the 2020 COVID crash it fell 32.9% and regained its old high 4.7 months after the low.
- Its worst full calendar year was 2022 (-13.5%); its best was 2021 (+28.7%).
- The deepest fall in its price history was 32.9% (Feb 19, 2020 to Mar 23, 2020), recovered by Aug 12, 2020.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +22.1% | — |
| 2025 | +11.7% | +11.75% |
| 2024 | +21.2% | +21.13% |
| 2023 | +25.1% | +25.11% |
| 2022 | -13.5% | -13.44% |
| 2021 | +28.7% | +28.83% |
| 2020 | +16.5% | +16.24% |
| 2019 | +28.5% | +28.06% |
| 2018 | -2.9% | -1.91% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 32.9% over that stretch · deepest drop along the way 32.9%, back to its old high 4.7 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 21.4% over that stretch · deepest drop along the way 21.9%, back to its old high 9.4 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.5500 | |
| 2025 | $0.7600 | +7.0% |
| 2024 | $0.7100 | +22.4% |
| 2023 | $0.5800 | -4.9% |
| 2022 | $0.6100 | +1.7% |
| 2021 | $0.6000 | +15.4% |
| 2020 | $0.5200 | 0.0% |
| 2019 | $0.5200 | -1.9% |
| 2018 | $0.5300 |
What's inside
As of Jul 31, 2026, the fund held 308 securities; the ten largest made up 18.64% of assets.
| Holding | Weight | |
|---|---|---|
| Apple, Inc. | 2.08% | |
| Microsoft Corp. | 2.01% | |
| Broadcom, Inc. | 2.00% | |
| Alphabet, Inc. | 1.94% | |
| NVIDIA Corp. | 1.92% | |
| Advanced Micro Devices, Inc. | 1.83% | |
| Visa, Inc. | 1.75% | |
| ExxonMobil Holdings Corp. | 1.73% | |
| Berkshire Hathaway, Inc. | 1.71% | |
| Meta Platforms, Inc. | 1.66% | |
| Micron Technology, Inc. | 1.65% | |
| Johnson & Johnson | 1.63% | |
| Mastercard, Inc. | 1.38% | |
| Cisco Systems, Inc. | 1.35% | |
| AbbVie, Inc. | 1.24% |
By country
United States 94.83%Ireland 2.38%United Kingdom 0.58%Switzerland 0.56%Bermuda 0.54%By asset type
Stocks 99.8%Other 0%By sector
Sectors of the companies held, for the 69.2% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors added a net $97.0M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +7.15%, +2.05%, -0.24%.
How it works
JQUA tracks the JP Morgan US Quality Factor Index. JPMorgan, the fund's adviser, designed the index and its scoring rules. FTSE International Limited calculates and runs it. The index starts with the Russell 1000, a list of large and mid-sized U.S. companies. A rules-based screen then compares each company with others in its sector on three tests: profitability, quality of earnings (how well reported profits hold up) and solvency (its ability to cover its debts). As of January 30, 2026, the index held 289 companies, worth between $1.8 billion and $4.7 trillion each.
Each sector gets a weight based on its share of the market's total value. Within each sector, stocks are weighted to keep the fund diversified, so the biggest companies don't take over. As of July 31, 2026, the fund held 308 stocks. Apple, Microsoft and Broadcom were the largest, at about 2% each, and the top ten made up 18.6% of assets. The index and the fund rebalance every quarter. Portfolio turnover was 19%.
The fund is passive. It tries to own every stock in the index in the same proportions, but it may use a representative sample instead. It can put up to 10% of assets in stock index futures, and it held a tiny S&P 500 futures position as of July 31, 2026. It does not move into cash when markets fall.
What it really costs
- JQUA charges 0.12% a year, versus an average of 0.14% for the similar funds below (5th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $12 in the first year and $154 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| JQUA | $12 | $39 | $68 | $154 |
In a retirement portfolio
It offers broad, low-cost exposure to about 300 U.S. large and mid-sized companies, with a tilt toward financially strong businesses rather than a narrow bet.
JQUA could serve as a main U.S. stock holding, but it falls when the market falls. It launched in November 2017, so it has no 2008 record. In the 2020 COVID crash, it dropped 32.9% from February 19 to March 23, 2020, and was back to its old high by August 12, 2020. In 2022, it fell 21.9% from January 3 to September 30 and didn't recover until July 12, 2023. Its worst calendar year was 2022, a 13.44% loss. Anyone who had to sell shares during those periods would have locked in losses.
Income is small: the trailing yield was 1.05% as of October 27, 2026, paid quarterly. On $10,000, costs come to about $12 in one year and $154 over ten years. Past results don't predict future returns, and a retirement plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting one broad U.S. stock fund of about 300 companies screened for profitability and balance-sheet strength, at 0.12% a year.
- People who want a quality tilt without concentrated bets; no single stock was much more than 2% of assets as of July 31, 2026.
- Long-term holders who can ride out swings like the 32.9% drop in early 2020 and the 13.44% loss in 2022.
Look elsewhere if
- Cost-focused investors: S&P 500 funds such as VOO and IVV charge 0.03%, a quarter of JQUA's 0.12% fee.
- People needing steady income: the trailing yield was 1.05% as of October 27, 2026, paid only quarterly.
- Anyone wanting protection in downturns: the fund stays fully invested and took until July 2023 to recover its 2022 losses.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| JQUA this fund | — | 0.12% | $8.22B | +21.6% | +24.2% |
| QUS SPDR MSCI USA StrategicFactors ETF | 51% | 0.15% | $1.53B | +14.4% | +20.9% |
| QARP Xtrackers Russell 1000 US Quality at a Reas… | 49% | 0.19% | $78.2M | +19.4% | +21.9% |
| JMOM JPMorgan U.S. Momentum Factor ETF | 48% | 0.12% | $2.50B | +18.7% | +28.7% |
| OALC OneAscent Large Cap Core ETF | 43% | 0.49% | $263.9M | +16.9% | +24.8% |
| SPY SPDR S&P 500 ETF Trust | 43% | 0.0945% | $781.19B | +11.5% | +21.9% |
| VOO Vanguard S&P 500 ETF | 43% | 0.03% | $1.67T | +12.4% | +23.6% |
| IVV iShares Core S&P 500 ETF | 43% | 0.03% | $888.13B | +11.5% | +22.0% |
Questions investors ask
Is JQUA good for retirement?
It can serve as a core U.S. stock holding, but it is neither a defensive fund nor an income fund. It holds about 300 financially strong large and mid-sized companies for 0.12% a year. It still fell 32.9% in early 2020 and 21.9% in 2022. After the 2022 drop, it took until July 2023 to recover. The yield was 1.05% as of October 27, 2026. Retirees drawing from it would need other assets to lean on in down years.
What stocks are in JQUA?
JQUA held 308 U.S. stocks as of July 31, 2026, and no single stock was much more than 2% of assets. The largest were Apple, Microsoft, Broadcom, Alphabet and NVIDIA, at about 2% each, followed by AMD, Visa, ExxonMobil, Berkshire Hathaway and Meta Platforms. The top ten made up 18.6% of the fund. Technology was the largest sector, followed by financials and consumer discretionary.
JQUA vs QUS: what's the difference?
Both are U.S. stock ETFs with a factor tilt, but they follow different indexes. JQUA tracks JPMorgan's quality index. QUS, the SPDR MSCI USA StrategicFactors ETF, tracks an MSCI index. About 51% of their holdings overlap. JQUA charges 0.12% a year and QUS charges 0.15%. As of October 27, 2026, JQUA returned 21.6% over one year versus 14.4% for QUS, and 24.2% a year over three years versus 20.9%.
Has JQUA beaten the S&P 500?
Over one year it has, but not over three. As of October 27, 2026, JQUA returned 21.6% over one year. VOO, an S&P 500 fund, returned 13.2% as of October 29, 2026. Over three years, JQUA averaged 24.2% a year, compared with 24.9% for VOO. JQUA also costs more: 0.12% a year versus 0.03% for VOO and IVV. The two funds share about 43% of their holdings.
Does JQUA pay dividends?
Yes, JQUA pays dividends every quarter, though the amounts are small. Over the 12 months to October 27, 2026, it paid about $0.80 per share, a yield of 1.05%. That income comes from the dividends of the companies it owns, such as Johnson & Johnson, ExxonMobil and AbbVie. Investors looking mainly for income may want to compare it with funds built around dividend-paying stocks.