JOET ETF Explained: A Complete Guide to Returns, Expense Ratio, Holdings, and Alternative ETFs
The Virtus Terranova Quality Momentum ETF (JOET) is a smart-beta ETF that combines quality and momentum factors among US large-cap stocks through equal weighting. Its core differentiating factors from single-factor ETFs include expense ratio, dividends, and the underlying screening strategy.
SubscribeWhat Is the Virtus Terranova Quality Momentum ETF?
It tracks an index that starts with 500 US large-cap stocks, screens for names with positive momentum, and then re-filters them through fundamental quality metrics, holding the final selection on an equal-weighted basis. It is a rules-based ETF that combines two factors: quality and momentum.
It suits investors seeking US large-cap exposure through rules-based factor diversification rather than single-stock bets.
The ETF is managed by Virtus Investment Partners and operates on a passive (index-tracking) basis.
How Does the Virtus Terranova Quality Momentum ETF Work?
| Item | Details |
|---|---|
| Benchmark Index | Terranova US Quality Momentum Index |
| Management Style | Passive (rules-based index tracking) |
| Issuer | Virtus Investment Partners |
| Rebalancing Cycle | Periodic rebalancing |
| Dividend Schedule | Annual dividend |
| Total Expense Ratio | 0.29% |
From the US large-cap universe, the methodology first filters for names with favorable price momentum, then ranks and selects them using fundamental quality indicators such as profitability and balance-sheet strength. The final portfolio is constructed on an equal-weighted basis, with each holding assigned the same weight.
- Screening that combines both quality and momentum factors
- Equal-weighted construction to reduce single-name concentration
Virtus Terranova Quality Momentum ETF: Size and Costs (AUM & Expense Ratio)
Assets under management (AUM) stand at $227.1M, and the total expense ratio is 0.29% annually.
Unlike single-factor ETFs, this fund applies both quality and momentum together, while its equal-weighting scheme reduces top-heavy concentration—key structural differences from peers.
Virtus Terranova Quality Momentum ETF: Performance and Flows
1-Year Price Performance
Dividend & Yield
52-Week Price RangeAs a factor ETF, performance dispersion appears across market regimes, with relative returns shifting between momentum-favored and quality-favored environments. Short-term returns remain exposed to broader market volatility.
Fund flows are influenced by investor interest in factor and smart-beta ETFs, placing the fund in the mid- to small-cap category by size compared with broad core ETFs. Flow volatility can shift depending on the market environment.
Virtus Terranova Quality Momentum ETF: Strengths and Weaknesses
The combination of quality and momentum and the equal-weight diversification stand out as strengths, while factor-cycle performance dispersion and the fee burden represent potential drawbacks.
💪 Key Strengths
⚠️ Points to Watch
Virtus Terranova Quality Momentum ETF: Alternative ETFs and Related Products
GARP, VFQY, and QLC shown in the table belong to the same US large-cap quality/factor category and differ in expense ratio and screening methodology. For those seeking single-factor exposure, momentum-focused MTUM and SPMO, as well as quality-focused QUAL and SPHQ, are also worth considering alongside JOET, whose key distinction lies in combining these two factors.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 QLTY | GMO U.S. Quality ETF | $44.26 | +0.1% | $5.6B | 0.50% | 0.63% | +18.4% |
 GARP | iShares MSCI USA Quality GARP ETF | $76.13 | -0.7% | $3.5B | 0.15% | 0.27% | +11.4% |
 QLC | Northern Trust US Quality Large Cap ETF | $88.49 | -0.3% | $1.1B | 0.25% | 0.98% | +10.5% |
 OUSM | ALPS OShares U.S. Small-Cap Quality Dividend ETF | $49.71 | +0.1% | $826.5M | 0.48% | 1.94% | +13.5% |
 VFQY | Vanguard U.S. Quality Factor ETF | $176.91 | -0.2% | $521.6M | 0.13% | 1% | +17.8% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| WDC | Western Digital Corp | 0.01% | $289.16 | -0.2% | $108.2B | 11.2 | 0.22% |
| AMZN | Amazon.com Inc | 0.01% | $270.94 | +1.5% | $2.93T | 21.9 | - |
| GRMN | Garmin Ltd | 0.01% | $288.66 | -1.1% | $55.6B | 27.7 | 1.42% |
| PWR | Quanta Services Inc | 0.02% | $583.14 | -1.4% | $87.9B | 52.8 | 0.07% |
| STX | Seagate Technology Holdings Plc | 0.01% | $501.62 | -0.9% | $115.2B | 26.4 | 0.61% |
| MPWR | Monolithic Power System Inc | 0.01% | $1357.34 | -2.2% | $66.2B | 74.9 | 0.57% |
| APH | Amphenol Corp | 0.01% | $79.95 | -0.9% | $197.4B | 34.8 | 0.67% |
| REGN | Regeneron Pharmaceuticals Inc | 0.01% | $916.06 | -0.4% | $94.7B | 20.2 | 0.47% |
| GLW | Corning Inc | 0.01% | $112.13 | -3.3% | $96.6B | 45.5 | 1.03% |
Virtus Terranova Quality Momentum ETF: Investor Checklist
These are the points to review before investing in JOET. Given its factor-ETF nature, investors should understand the dual quality-plus-momentum strategy structure and assess the expense burden and performance dispersion across market regimes in advance.
| Checkpoint | What to Confirm | Current Status |
|---|---|---|
| 💵 Expense Ratio | Review cumulative cost impact over long-term holding | Annual fee applied |
| 📊 Factor Strategy | Understand how quality and momentum are combined | Rules-based management |
| ⚖️ Equal Weighting | Review the effect of reduced top-name concentration | Equal-weighted construction |
| 💱 Currency | Impact on won-denominated returns | No currency hedging applied |
Factor strategies can underperform broader markets during specific regimes, and momentum characteristics may amplify volatility around trend reversals. An equal-weighted allocation can also raise the relative weight of mid- and smaller-cap holdings.
The fund fits investors seeking rules-based US large-cap exposure that combines quality and momentum. For investors prioritizing single-factor exposure or low-cost core holdings, a comparative review against MTUM, QUAL, or broad core ETFs is recommended.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 18, 2026.
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