JVAL vs QDEF
JPMorgan US Value Factor ETF vs Northern Trust Quality Dividend Defensive ETF
Which is better, JVAL or QDEF?
Each has led over a different period.
JVAL has a lower expense ratio. JVAL led over 1Y, 3Y and the full window, QDEF over 5Y. The two have moved almost in lockstep, correlation 0.94. JVAL is less concentrated, with 18.6% of the fund in its ten largest positions against 36.5%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | JVAL | QDEF |
|---|---|---|
| Expense Ratio | 0.12%Best | 0.37% |
| AUM | $1.0B | $555M |
| Dividend Yield | 1.61% | 1.60% |
| Holdings | 797 | 137 |
| YTD Return | +18.89%Best | +12.91% |
| 1Y Return | +24.99%Best | +16.44% |
| 3Y Return (annualized) | +21.18%Best | +20.19% |
| 5Y Return (annualized) | +12.28% | +12.98%Best |
| Volatility (annualized) | 18.1% | 15.1%Best |
| Max Drawdown | -40.4% | -36.2%Best |
| $10,000 over 5 years | $17,845 | $18,408Best |
| Top 10 Weight | 18.6%Best | 36.5% |
| Fund Family | J.P. Morgan Asset Management | Northern Trust Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Nov 8, 2017 | Dec 14, 2012 |
Volatility and max drawdown are measured over the window both funds cover: Nov 9, 2017 to Oct 14, 2026 (8.9 years).
JVAL vs QDEF growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 8.9 years both funds cover.
JVAL vs QDEF Performance
JPMorgan US Value Factor ETF (JVAL) is an ETF from J.P. Morgan Asset Management and Northern Trust Quality Dividend Defensive ETF (QDEF) is an ETF from Northern Trust Asset Management. Over the past year JVAL returned +24.99% while QDEF returned +16.44%. Year to date, JVAL is up 18.89% versus a gain of 12.91% for QDEF.
Over three years, JVAL compounded at +21.18% per year against +20.19% for QDEF; over five years the annualized figures are +12.28% and +12.98% respectively. Across the full 9-year window we track, JVAL has the edge at +11.54% annualized vs +10.34%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
JVAL has been the more volatile fund, with annualized monthly volatility of 18.1% compared with 15.1% for QDEF. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -40.4% for JVAL and -36.2% for QDEF. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
JVAL charges 0.12% per year while QDEF charges 0.37%. On a $10,000 position that is $12 vs $37 annually, a gap of $25 per year that compounds over a long holding period. On income, JVAL currently yields 1.61% against 1.60% for QDEF.
Holdings Overlap
35.8% of JVAL's money is in holdings QDEF also owns. 62.3% of QDEF's money is in holdings JVAL also owns.
The two portfolios partly overlap.
73 positions in common, counted across the 393 positions we hold weights for in JVAL and 154 in QDEF, against full books of 797 and 137.
What only one of them owns
Our book lists 77 positions for QDEF that do not appear in our book for JVAL (35.8% of the fund), and 309 for JVAL that do not appear in QDEF (62.7%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in JVAL | Weight in QDEF | Difference |
|---|---|---|---|
| AAPLApple, Inc | 2.15% | 8.95% | 6.80% |
| NVDANvidia Corp | 1.90% | 7.39% | 5.49% |
| MSFTMicrosoft Corp | 2.12% | 4.55% | 2.43% |
| AVGOBroadcom Inc | 1.80% | 2.66% | 0.86% |
| GOOGLAlphabet Inc | 2.10% | 2.35% | 0.25% |
| JNJJohnson & Johnson - Common | 1.63% | 2.80% | 1.17% |
| METAMeta Platforms Inc | 2.43% | 1.59% | 0.84% |
| MUMicron Technology, Inc. | 2.17% | 1.72% | 0.45% |
| LRCXLrcx Uw Equity | 1.16% | 1.58% | 0.42% |
| KLACKla-tencor | 0.67% | 1.85% | 1.18% |
62.3% of QDEF is already inside JVAL.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
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Frequently Asked Questions
Which is cheaper, JVAL or QDEF?
JVAL has an expense ratio of 0.12% while QDEF charges 0.37%. JVAL is the cheaper option, by $25 a year on a $10,000 investment.
Which performed better, JVAL or QDEF?
Over the past year JVAL returned +24.99% vs +16.44% for QDEF, so JVAL leads on 1-year performance. Over the longest common window we track (9 years), JVAL annualized +11.54% vs +10.34% for QDEF. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, JVAL or QDEF?
JVAL has been the more volatile fund at 18.1% annualized versus 15.1% for QDEF. Worst drawdown: JVAL -40.4% vs QDEF -36.2%.
Should I hold both JVAL and QDEF?
JVAL and QDEF have a monthly-return correlation of 0.94, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between JVAL and QDEF?
62.3% of QDEF's money is in holdings JVAL also owns. 62.3% of QDEF's is in holdings JVAL also owns. They hold 73 positions in common, counted across the 393 positions we hold weights for in JVAL and 154 in QDEF.
Which pays a higher dividend, JVAL or QDEF?
JVAL yields 1.61% while QDEF yields 1.60%, so JVAL currently pays the higher dividend yield.
Is QDEF better than JVAL?
JVAL has a lower expense ratio. JVAL led over 1Y, 3Y and the full window, QDEF over 5Y. The two have moved almost in lockstep, correlation 0.94. JVAL is less concentrated, with 18.6% of the fund in its ten largest positions against 36.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.