JPMorgan BetaBuilders Europe
ALTAR
Score™
6.6% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
16.0x P/Sales
ratio
1.2x
P/BV
ratio
1.8x Div.
yield
3.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Seeks investment results that closely correspond to the Morningstar Developed Europe Target Market Exposure Index.

FUND BASICS
Category international Equities
Fund Sponsor JPMorgan
Website am.jpmorgan.com
Inception date Jun 15, 2018
Assets (mns) $4,117
Currency USD
Expense ratio 9 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 533
Wgt avg mkt cap (mns) $80,690
Large cap (>$10bn) 89.3%
Mid cap ($2-10bn) 10.0%
Small cap (<$2bn) 0.4%
Developed mkts 99.9%
Emerging mkts 0.1%

TOP TEN HOLDINGS
NESTLE SA-REG 3.2 %
NOVARTIS AG-REG 2.5 %
ROCHE HOLDING AG-GENUSSCHEIN 2.4 %
HSBC HOLDINGS PLC 1.6 %
TOTAL SA 1.4 %
ASTRAZENECA PLC 1.4 %
BP PLC 1.4 %
ASML HOLDING NV 1.3 %
LVMH MOET HENNESSY LOUIS VUI 1.3 %
ROYAL DUTCH SHELL PLC-A SHS 1.3 %
Total 17.8 %

TOP COUNTRY EXPOSURE
BRITAIN 25.6 %
FRANCE 15.9 %
SWITZERLAND 15.2 %
GERMANY 11.7 %
NETHERLANDS 6.5 %
SWEDEN 4.6 %
SPAIN 4.2 %
ITALY 3.6 %
DENMARK 2.8 %
FINLAND 2.0 %

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.
24.0% 24.0% -- -- 5.5%

Market Correlations
versus... Beta R-squared
S&P500 0.78 77%
MSCI EAFE 1.05 98%
MSCI Emg. Mkts. 0.77 82%

Technical Indicators
Recent close $25.73
30d moving avg. $25.34
Annualized volatility 14.1%
Short interest (ETF) 0.0%
Relative strength (RSI) 68

Liquidity measures
Avg. volume (thou.) 258
Turnover 0.2%
Bid/Ask (% of price) 0.05%
ADV underlying (mns) $22,781

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: BBEU Expense: 9 bp ALTAR Score™: 6.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH BBEU
Ticker Fund
Name
Overlap1
vs BBEU
(%)
Expense
ratio
(bp)
Savings
vs BBEU
(bp)
ALTAR
Score™
(%)
ALTAR
vs BBEU
(%)
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE 92.8 30 -21 6.4 -0.2
FLEE Franklin FTSE Europe 92.5 9 0 6.6 0.0
DBEU Xtrackers Europe Hedged 91.8 45 -36 6.2 -0.4
IEV iShares S&P Europe 350 91.5 59 -50 6.1 -0.5
FLEH Franklin FTSE Europe Hedged 91.4 9 0 6.6 +0.0
IEUR iShares Core MSCI Europe 86.3 9 0 6.6 +0.0
VGK Vanguard FTSE Europe 85.0 9 0 6.7 +0.1
FEU SPDR DJ Stoxx 50 83.5 9 0 6.6 +0.0
GSEU Goldman Sachs ActiveBeta Europe Equity 70.4 25 -16 6.1 -0.5
EFA iShares MSCI EAFE 60.8 31 -22 6.7 +0.1
EFAX SPDR MSCI EAFE Fossil Fuel Free 60.2 20 -11 6.8 +0.2
DBEF Xtrackers MSCI EAFE Hedged 58.8 35 -26 6.6 -0.0
ESGD iShares MSCI EAFE ESG Optimized 56.3 20 -11 6.7 +0.1
HFXI IQ 50 Percent Hedged FTSE Int'l 56.0 20 -11 7.0 +0.4
DOL WisdomTree Int'l Large Cap Dividend 55.7 48 -39 7.5 +0.9
PBDM Invesco PureBeta FTSE Developed ex-North America 55.0 7 2 7.3 +0.6
DDWM WisdomTree Dynamic Currency Hedged Int'l Equity 53.5 35 -26 7.6 +1.0
IEFA iShares Core MSCI EAFE 53.3 7 2 6.8 +0.2
DWM WisdomTree DEFA Fund 52.9 48 -39 7.4 +0.8

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%.

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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 Europe
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 11.1 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 9 bp
Equals: ALTAR Score 6.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.64 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.