JPMorgan U.S. Minimum Volatility
ALTAR
Score™
5.3% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
21.5x P/Sales
ratio
2.0x
P/BV
ratio
3.0x Div.
yield
2.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
JMIN holds lower-volatility US large-cap stocks from the Russell 1000 Index, weighted to emphasize lower-volatility sectors.

FUND BASICS
Category US Equities
Fund Sponsor JPMorgan
Website am.jpmorgan.com
Inception date Nov 08, 2017
Assets (mns) $114
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 221
Wgt avg mkt cap (mns) $67,182
Large cap (>$10bn) 79.7%
Mid cap ($2-10bn) 20.3%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MICROSOFT CORP 0.6 %
NIKE INC -CL B 0.6 %
WEC ENERGY GROUP INC 0.6 %
SOUTHERN CO 0.6 %
ENTERGY CORP 0.6 %
OGE ENERGY CORP 0.6 %
NEXTERA ENERGY GROUP 0.6 %
THERMO FISHER SCIENTIFIC INC 0.6 %
ESTEE LAUDER COMPANIES-CL A 0.6 %
ALLIANT ENERGY CORP 0.6 %
Total 6.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.0 %
BERMUDA 1.5 %
IRELAND 1.2 %
SWITZERLAND 1.0 %
BRITAIN 0.7 %
NETHERLANDS 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.
28.6% 28.6% -- -- 12.1%

Market Correlations
versus... Beta R-squared
S&P500 0.69 87%
MSCI EAFE 0.68 65%
MSCI Emg. Mkts. 0.45 48%

Technical Indicators
Recent close $32.19
30d moving avg. $31.38
Annualized volatility 10.7%
Short interest (ETF) 2.7%
Relative strength (RSI) 74

Liquidity measures
Avg. volume (thou.) 14
Turnover 0.4%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $46,722

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: JMIN Expense: 12 bp ALTAR Score™: 5.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH JMIN
Ticker Fund
Name
Overlap1
vs JMIN
(%)
Expense
ratio
(bp)
Savings
vs JMIN
(bp)
ALTAR
Score™
(%)
ALTAR
vs JMIN
(%)
RBUS Nationwide Risk-Based U.S. Equity 55.2 30 -18 5.8 +0.5
JPUS JPMorgan Diversified Return U.S. Equity 47.2 19 -7 6.0 +0.7
USMV iShares MSCI USA Minimum Volatility 46.2 15 -3 4.9 -0.3
JDIV JPMorgan U.S. Dividend 44.7 12 0 7.1 +1.8
LVUS Hartford Multifactor Low Volatility US Equity 42.3 21 -9 5.6 +0.3
SCIU Global X Scientific Beta US 41.2 19 -7 5.5 +0.3
FVD First Trust Value Line Dividend 40.6 70 -58 5.6 +0.4
USLB Invesco Russell 1000 Low Beta Equal Weight 40.4 35 -23 5.4 +0.1
ROUS Lattice U.S. Equity Strategy ETF 39.5 19 -7 6.1 +0.9
LSLT Salt Low truBeta US Market 38.7 0 12 6.4 +1.2
QUS SPDR MSCI USA Quality Mix 38.0 15 -3 5.6 +0.3
OVOL Invesco Russell 1000 Low Volatility Factor ETF 35.5 19 -7 5.3 +0.0
FLQL Franklin LibertyQ U.S. Equity 35.5 15 -3 6.4 +1.1
FDLO Fidelity Low Volatility Factor 35.4 29 -17 5.0 -0.2
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity 35.1 9 3 5.7 +0.5
SPLV Invesco S&P 500 Low Volatility 35.1 25 -13 5.0 -0.2
PQLC PGIM QMA Strategic Alpha Large-Cap Core 34.9 17 -5 6.6 +1.4
SPXT ProShares S&P 500 Ex-Technology 34.8 27 -15 5.6 +0.4
SPYV SPDR Portfolio S&P 500 Value 34.3 4 8 6.9 +1.7
IVE iShares S&P 500 Value 34.3 18 -6 6.8 +1.5

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 U.S. Minimum Volatility
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 14.8 %
Divided by: Fwd. P/BV 2.8 x
Less: Expense ratio 12 bp
Equals: ALTAR Score 5.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.60 CATEGORY
AVERAGE
1.55
 
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.