JPMorgan BetaBuilders Developed Asia ex-Japan
ALTAR
Score™
6.2% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
17.1x P/Sales
ratio
2.6x
P/BV
ratio
1.7x Div.
yield
3.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The JPMorgan BetaBuilders Developed Asia ex-Japan ETF tracks a market-cap-weighted index of large- and midcap stocks in developed-market Asian countries, excluding Japan.

FUND BASICS
Category International Equities
Fund Sponsor JPMorgan
Website am.jpmorgan.com
Inception date Aug 07, 2018
Assets (mns) $1,572
Currency USD
Expense ratio 19 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 164
Wgt avg mkt cap (mns) $45,739
Large cap (>$10bn) 77.0%
Mid cap ($2-10bn) 22.9%
Small cap (<$2bn) 0.1%
Developed mkts 98.8%
Emerging mkts 1.2%

TOP TEN HOLDINGS
AIA GROUP LTD 7.3 %
COMMONWEALTH BANK OF AUSTRAL 5.5 %
CSL LIMITED 5.1 %
BHP BILLITON LTD 4.4 %
WESTPAC BANKING CORP 3.2 %
AUST AND NZ BANKING GROUP 2.7 %
NATIONAL AUSTRALIA BANK LTD 2.7 %
HONG KONG EXCHANGES & CLEAR 2.3 %
DBS GROUP HOLDINGS LTD 1.9 %
WESFARMERS LIMITED 1.9 %
Total 37.1 %

TOP COUNTRY EXPOSURE
AUSTRALIA 55.9 %
HONG KONG 25.7 %
SINGAPORE 11.7 %
NEW ZEALAND 2.4 %
MACAU 1.0 %
IRELAND 0.5 %
BERMUDA 0.3 %
CAMBODIA 0.2 %



HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
18.6% 18.6% -- -- 7.9%

Market Correlations
versus... Beta R-squared
S&P500 0.71 72%
MSCI EAFE 0.92 86%
MSCI Emg. Mkts. 0.74 85%

Technical Indicators
Recent close $26.92
30d moving avg. $25.92
Annualized volatility 14.3%
Short interest (ETF) 0.0%
Relative strength (RSI) 72

Liquidity measures
Avg. volume (thou.) 146
Turnover 0.3%
Bid/Ask (% of price) 0.11%
ADV underlying (mns) $4,437

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the JPMorgan BetaBuilders Developed Asia ex-Japan ETF based on the alternatives' overlap in portfolio holdings with BBAX. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: BBAX Expense: 19 bp ALTAR Score™: 6.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH BBAX
Ticker Fund
Name
Overlap1
vs BBAX
(%)
Expense
ratio
(bp)
Savings
vs BBAX
(bp)
ALTAR
Score™
(%)
ALTAR
vs BBAX
(%)
EPP iShares MSCI Pacific ex-Japan 93.3 48 -29 6.0 -0.2
FLAU Franklin FTSE Australia 56.3 9 10 5.8 -0.4
EWA iShares MSCI Australia 55.5 47 -28 5.4 -0.7
SCIX Global X Scientific Beta Asia ex-Japan 39.4 38 -19 5.8 -0.4
AXJL WisdomTree Asia Pacific Ex-Japan 33.8 48 -29 8.5 +2.3
FLHK Franklin FTSE Hong Kong 26.8 9 10 6.9 +0.7
IPAC iShares Core MSCI Pacific 26.4 9 10 7.2 +1.0
ZHOK SPDR Solactive Hong Kong 26.4 14 5 6.5 +0.3
EWH iShares MSCI Hong Kong 26.2 48 -29 6.5 +0.3
RFAP First Trust Riverfront Dynamic Asia Pacific 24.2 83 -64 7.0 +0.8
VPL Vanguard Pacific ETF 23.7 9 10 7.4 +1.3
2800-HK Tracker Fund of Hong Kong 21.9 9 10 9.8 +3.7
FPA First Trust Asia Pac Ex-Japan AlphaDEX 21.4 80 -61 8.2 +2.1
AIA iShares S&P Asia 50 21.1 50 -31 8.5 +2.3
FAUS First Trust Australia 18.4 80 -61 4.9 -1.3
DVYA iShares Asia/Pacific Dividend 30 18.2 49 -30 8.0 +1.8
FHK First Trust Hong Kong 17.3 80 -61 8.5 +2.4
DEEF Xtrackers FTSE Dev ex-US Comprehensive Factor 17.2 24 -5 6.8 +0.6
IDHD Invesco S&P Intl Developed High Div Low Volatility 17.1 30 -11 6.4 +0.2
JPIN JPMorgan Diversified Rtn. Int'l Equity 16.4 38 -19 7.1 +1.0

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

Content on this tab for subscribers only

VALUATION METRICS
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
JPMorgan BetaBuilders Developed Asia ex-Japan
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.6 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 19 bp
Equals: ALTAR Score 6.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.76 CATEGORY
AVERAGE
1.63
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.