ETF Research Center

The JPMorgan BetaBuilders Canada ETF tracks a market-cap-weighted index of large- and midcap Canadian equities.

FUND BASICS
Category	International Equities
Fund Sponsor	JPMorgan
Website	am.jpmorgan.com
Inception date	Aug 07, 2018
Assets (mns)	$3,891
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	97
Wgt avg mkt cap (mns)	$42,750
Large cap (>$10bn)	85.2%
Mid cap ($2-10bn)	14.2%
Small cap (<$2bn)	0.6%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	44.1 %
ROYAL BANK OF CANADA	7.7 %
TORONTO-DOMINION BANK	6.9 %
ENBRIDGE INC	5.0 %
BANK OF NOVA SCOTIA	4.6 %
CANADIAN NATL RAILWAY CO	4.4 %
BROOKFIELD ASSET MANAGE-CL A	3.4 %
SUNCOR ENERGY INC	3.3 %
BANK OF MONTREAL	3.2 %
TRANSCANADA CORP	3.1 %
MANULIFE FINANCIAL CORP	2.5 %

TOP COUNTRY EXPOSURE
	CANADA	99.4 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru October 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
22.3%	12.7%	--	--	3.5%

Market Correlations
versus...	Beta	R-squared
S&P500	1.01	85%
MSCI EAFE	1.16	80%
MSCI Emg. Mkts.	0.90	67%

Technical Indicators
Recent close	$25.48
30d moving avg.	$25.12
Annualized volatility	19.8%
Short interest (ETF)	0.0%
Relative strength (RSI)	74

Liquidity measures
Avg. volume (thou.)	148
Turnover	0.1%
Bid/Ask (% of price)	0.06%
ADV underlying (mns)	$3,874

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 19 potential alternatives to the JPMorgan BetaBuilders Canada ETF based on the alternatives' overlap in portfolio holdings with BBCA. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

BBCA

Expense:

19 bp

ALTAR Score™:

7.3%

ALTERNATIVE ETFs BASED ON OVERLAP WITH BBCA
Ticker	Fund Name	Overlap¹ vs BBCA (%)	Expense ratio (bp)	Savings vs BBCA (bp)	ALTAR Score™ (%)	ALTAR vs BBCA (%)
QCAN	SPDR MSCI Canada Quality Mix	94.9	14	5	7.3	+0.0
EWC	iShares MSCI Canada	93.2	47	-28	7.2	-0.1
FLCA	Franklin FTSE Canada	87.6	9	10	7.7	+0.4
PID	Invesco International Dividend Achievers	32.5	54	-35	7.4	+0.1
FCAN	First Trust Canada	24.9	80	-61	5.0	-2.3
AIIQ	AI Powered International Equity	18.0	79	-60	4.4	-2.9
IDLV	Invesco S&P Int'l Developed Low Volatility	16.8	25	-6	6.4	-0.9
NANR	SPDR S&P N. American Nat. Resources	16.4	35	-16	4.2	-3.1
IGRO	iShares International Dividend Growth	15.1	22	-3	8.0	+0.7
NFRA	FlexShares STOXX Global Broad Infrastructure	15.0	47	-28	6.5	-0.8
ISDX	Invesco Strategic Developed ex-US	14.4	23	-4	7.8	+0.5
IMTM	iShares MSCI Int'l Developed Momentum	13.5	30	-11	5.3	-2.0
INTF	iShares FactorSelect MSCI International	11.8	30	-11	8.4	+1.1
IXC	iShares S&P Global Energy Sector	11.8	46	-27	5.2	-2.0
TOLZ	ProShares Global Infrastructure	11.7	46	-27	5.2	-2.1
FID	First Trust S&P International Dividend Aristocrats	11.7	60	-41	7.3	0.0
INFR	Legg Mason Global Infrastructure	11.5	40	-21	5.7	-1.6
CIZ	Compass EMP Dev. 500 Enhanced Vol. Wgt.	11.2	45	-26	7.0	-0.3
CIL	Victory CEMP International Volatility Wtd	11.2	45	-26	7.0	-0.3

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	**	**	**	**	**	**	**
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 Canada
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	12.4	%
Divided by: Fwd. P/BV	1.7	x
Less: Expense ratio	19	bp
Equals: ALTAR Score	7.3	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.52	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.