JPMorgan U.S. Dividend
ALTAR
Score™
7.4% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
15.9x P/Sales
ratio
1.4x
P/BV
ratio
2.1x Div.
yield
4.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The JPMorgan U.S. Dividend ETF tracks an index of US large-cap equities with higher dividend yields, weighted for greater exposure to sectors with high risk-adjusted dividend yields.

FUND BASICS
Category US Equities
Fund Sponsor JPMorgan
Website am.jpmorgan.com
Inception date Nov 08, 2017
Assets (mns) $41
Currency USD
Expense ratio 12 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 213
Wgt avg mkt cap (mns) $50,453
Large cap (>$10bn) 58.8%
Mid cap ($2-10bn) 41.1%
Small cap (<$2bn) 0.2%
Developed mkts 99.5%
Emerging mkts 0.5%

TOP TEN HOLDINGS
CENTURYTEL INC 0.7 %
RELIANCE STEEL & ALUMINUM 0.7 %
AES CORP 0.7 %
INTERNATIONAL PAPER CO 0.7 %
LYONDELLBASELL INDU-CL A 0.7 %
LIBERTY PROPERTY TRUST 0.7 %
EASTMAN CHEMICAL COMPANY 0.7 %
TARGET CORP 0.7 %
NUCOR CORP 0.7 %
INTEL CORP 0.7 %
Total 6.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.7 %
IRELAND 1.3 %
BRITAIN 1.0 %
SWITZERLAND 0.7 %
PANAMA 0.5 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
20.6% 10.5% -- -- 6.7%

Market Correlations
versus... Beta R-squared
S&P500 0.84 85%
MSCI EAFE 0.87 70%
MSCI Emg. Mkts. 0.63 57%

Technical Indicators
Recent close $27.54
30d moving avg. $27.34
Annualized volatility 13.2%
Short interest (ETF) 0.1%
Relative strength (RSI) 54

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.2%
Bid/Ask (% of price) 0.10%
ADV underlying (mns) $44,135

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the JPMorgan U.S. Dividend ETF based on the alternatives' overlap in portfolio holdings with JDIV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: JDIV Expense: 12 bp ALTAR Score™: 7.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH JDIV
Ticker Fund
Name
Overlap1
vs JDIV
(%)
Expense
ratio
(bp)
Savings
vs JDIV
(bp)
ALTAR
Score™
(%)
ALTAR
vs JDIV
(%)
JMIN JPMorgan U.S. Minimum Volatility 45.3 12 0 5.6 -1.9
JPUS JPMorgan Diversified Return U.S. Equity 40.6 19 -7 6.3 -1.2
DVY iShares Select Dividend 39.1 39 -27 7.9 +0.5
ONEY SPDR Russell 1000 Yield Focus 38.8 20 -8 8.2 +0.8
DTN WisdomTree Dividend Ex-Financials 37.5 38 -26 7.8 +0.4
FVD First Trust Value Line Dividend 37.0 70 -58 5.7 -1.7
OYLD Invesco Russell 1000 Yield Factor ETF 36.2 19 -7 7.0 -0.4
DHS WisdomTree Equity Income 35.5 38 -26 7.2 -0.3
USDY Pacific Global US Equity Income 34.9 29 -17 7.4 -0.1
VYM Vanguard High Dividend Yield ETF 34.6 6 6 7.2 -0.2
RBUS Nationwide Risk-Based U.S. Equity 34.2 30 -18 6.0 -1.4
RNDV US Equity Dividend Select 32.7 50 -38 7.7 +0.3
SCHV Schwab U.S. Large-Cap Value 32.5 4 8 6.9 -0.5
FLQL Franklin LibertyQ U.S. Equity 32.4 15 -3 6.8 -0.6
JPME JPMorgan Diversified Return U.S. Mid Cap Equity 31.7 24 -12 6.0 -1.4
CDC Victory CEMP US EQ Income Enhanced Volatility Wtd 31.7 35 -23 7.7 +0.3
CDL Victory CEMP US Large Cap High Div Volatility Wtd 31.7 35 -23 7.7 +0.3
DTD WisdomTree Total Dividend 31.7 28 -16 6.5 -0.9
JVAL JPMorgan U.S. Value Factor 31.4 12 0 8.4 +1.0
JKI iShares Morningstar Mid Cap Value 30.8 30 -18 8.5 +1.1

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

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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 U.S. Dividend
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 14.7 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 12 bp
Equals: ALTAR Score 7.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.67 CATEGORY
AVERAGE
1.56
 
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.