JPMorgan U.S. Minimum Volatility ETF
ALTAR
Score™
7.2% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
15.6x P/Sales
ratio
1.5x
P/BV
ratio
2.2x Div.
yield
3.3%


  • 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) $81
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) $60,653
Large cap (>$10bn) 76.3%
Mid cap ($2-10bn) 22.8%
Small cap (<$2bn) 1.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
HORMEL FOODS CORP 0.8 %
MICROSOFT CORP 0.8 %
ELI LILLY & CO 0.7 %
CLOROX COMPANY 0.7 %
WAL-MART STORES INC 0.7 %
COSTCO WHOLESALE CORP 0.7 %
CROWN CASTLE INTL CORP 0.7 %
WEST PHARMACEUTICAL SERVICES 0.7 %
PROCTER & GAMBLE CO/THE 0.7 %
VERIZON COMMUNICATIONS INC 0.7 %
Total 7.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.0 %
BERMUDA 1.4 %
IRELAND 1.2 %
SWITZERLAND 1.0 %
BRITAIN 0.8 %
NETHERLANDS 0.0 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-20.9% -9.9% -- -- 0.1%

Market Correlations
versus... Beta R-squared
S&P500 0.84 90%
MSCI EAFE 0.83 81%
MSCI Emg. Mkts. 0.60 62%

Technical Indicators
Recent close $24.26
30d moving avg. $27.00
Annualized volatility 15.2%
Short interest (ETF) 2.7%
Relative strength (RSI) 36

Liquidity measures
Avg. volume (thou.) 38
Turnover 1.1%
Bid/Ask (% of price) 0.60%
ADV underlying (mns) $113,388

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the JPMorgan U.S. Minimum Volatility ETF 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™: 7.2%


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 ETF 55.5 30 -18 7.2 +0.0
JPUS JPMorgan Diversified Return U.S. Equity ETF 49.8 19 -7 8.3 +1.2
USMV iShares Edge MSCI Min Vol USA ETF 46.4 15 -3 6.8 -0.3
JDIV JPMorgan U.S. Dividend ETF 43.8 12 0 10.7 +3.6
SCIU Global X Scientific Beta US ETF 42.6 19 -7 7.6 +0.5
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 41.9 35 -23 7.6 +0.5
LSLT Salt Low truBeta US Market ETF 40.0 0 12 8.5 +1.4
FVD First Trust Value Line Dividend Index Fund 39.8 70 -58 8.0 +0.9
LVUS Hartford Multifactor Low Volatility US Equity ETF 39.1 19 -7 7.6 +0.5
QUS SPDR MSCI USA StrategicFactors ETF 38.2 15 -3 7.3 +0.1
ROUS Hartford Multifactor US Equity ETF 37.7 19 -7 9.2 +2.1
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 37.2 17 -5 9.0 +1.8
SPLV Invesco S&P 500 Low Volatility ETF 36.6 25 -13 6.7 -0.5
FLQL Franklin LibertyQ U.S. Equity ETF 36.5 15 -3 8.0 +0.9
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 36.2 24 -12 8.3 +1.2
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 35.6 9 3 7.3 +0.1
SPXT ProShares S&P 500 Ex-Technology ETF 35.4 27 -15 7.3 +0.2
RNLC Large Cap US Equity Select ETF 35.4 60 -48 8.2 +1.1
SPYV SPDR Portfolio S&P 500 Value ETF 35.1 4 8 9.2 +2.1
IVE iShares S&P 500 Value ETF 35.0 18 -6 9.1 +1.9
LGLV SPDR Russell 1000 Low Volatility ETF 34.9 12 0 7.1 -0.1
CFA Victory CEMP US 500 Volatility Weighted Index ETF 34.8 35 -23 8.1 +0.9
KRMA Global X Conscious Companies ETF 34.7 43 -31 7.3 +0.2
FDLO Fidelity Low Volatility Factor ETF 34.7 29 -17 6.5 -0.6
IUSV iShares Core S&P U.S. Value ETF 34.7 4 8 9.4 +2.2
VOOV Vanguard S&P 500 Value ETF 34.6 15 -3 9.2 +2.0
DYNF BlackRock U.S. Equity Factor Rotation ETF 34.5 30 -18 8.1 +0.9
JHML John Hancock Multifactor Large Cap ETF 34.3 34 -22 7.5 +0.3
PBP Invesco S&P 500 BuyWrite ETF 33.7 49 -37 6.5 -0.6
HSPX Global X S&P 500 Covered Call ETF 33.6 65 -53 6.2 -1.0
DLN WisdomTree U.S. LargeCap Dividend Fund 33.6 28 -16 8.0 +0.9
RSP Invesco S&P 500 Equal Weight ETF 33.4 20 -8 8.8 +1.6
DTD WisdomTree U.S.Total Dividend Fund 33.4 28 -16 8.5 +1.3
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 33.2 9 3 8.1 +1.0
ONEV SPDR Russell 1000 Low Volatility Focus ETF 32.6 20 -8 9.5 +2.3
SPY SPDR S&P 500 ETF Trust 32.2 9 3 7.1 -0.1
SPLG SPDR Portfolio Large Cap ETF 32.1 3 9 7.1 -0.0
SPXN ProShares S&P 500 Ex-Financials ETF 32.1 27 -15 6.6 -0.5
IVV iShares Core S&P 500 ETF 32.1 4 8 7.1 -0.1
PRF Invesco FTSE RAFI US 1000 ETF 32.0 39 -27 9.2 +2.0
ACWV iShares Edge MSCI Min Vol Global ETF 31.9 20 -8 6.7 -0.4
VOO VANGUARD S&P 500 ETF 31.9 3 9 7.1 -0.1
SCHX Schwab U.S. Large-Cap ETF 31.8 3 9 7.0 -0.1
SCHV Schwab U.S. Large-Cap Value ETF 31.7 4 8 9.0 +1.8
VV Vanguard Large-Cap Index Fund 31.7 4 8 7.0 -0.2
IWD iShares Russell 1000 Value ETF 31.7 19 -7 9.1 +2.0
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 31.7 29 -17 8.2 +1.1
PBUS Invesco PureBeta MSCI USA ETF 31.6 4 8 7.2 +0.0
VONV Vanguard Russell 1000 Value Index Fund 31.6 8 4 9.3 +2.1
BBUS JP Morgan Betabuilders U.S. Equity ETF 31.5 2 10 7.1 -0.1
IWB iShares Russell 1000 ETF 31.5 15 -3 7.0 -0.2
MXDU Nationwide Maximum Diversification US Core Equity ETF 31.4 34 -22 6.8 -0.4
VONE Vanguard Russell 1000 ETF 31.4 8 4 7.0 -0.1
FNDX Schwab Fundamental U.S. Large Co. Index ETF 31.3 25 -13 8.3 +1.2
SPTM SPDR Portfolio Total Stock Market ETF 31.3 3 9 7.3 +0.1
SCHK Schwab 1000 Index ETF 31.3 5 7 7.0 -0.1
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 31.2 20 -8 7.1 -0.1
PFM Invesco Dividend Achievers ETF 31.2 54 -42 6.4 -0.7
IYY iShares Dow Jones U.S. ETF 31.1 20 -8 6.9 -0.2
SPXE ProShares S&P 500 Ex-Energy ETF 31.0 27 -15 7.0 -0.2
JQUA JPMorgan U.S. Quality Factor ETF 30.9 12 0 6.6 -0.5
AFLG First Trust Active Factor Large Cap ETF 30.6 55 -43 7.7 +0.5
FNDB Schwab Fundamental U.S. Broad Market Index ETF 30.4 25 -13 8.4 +1.2
EPS WisdomTree U.S. Earnings 500 Fund 30.4 8 4 8.5 +1.3
EQAL Invesco Russell 1000 Equal Weight ETF 30.3 20 -8 7.6 +0.5
SCHB Schwab U.S. Broad Market ETF 30.3 3 9 7.0 -0.1
IWV iShares Russell 3000 ETF 30.3 20 -8 6.9 -0.3
MGC Vanguard Mega Cap Index Fund 30.2 7 5 6.8 -0.3
VTHR Vanguard Russell 3000 Index Fund 30.2 10 2 6.9 -0.2
VTV Vanguard Value Index Fund 30.2 4 8 9.1 +2.0
ITOT iShares Core S&P Total U.S. Stock Market ETF 30.2 3 9 7.0 -0.2
VYM Vanguard High Dividend Yield Index ETF 30.2 6 6 8.9 +1.7
VTI Vanguard Total Stock Market Index Fund 30.1 3 9 7.0 -0.2
SPMV Invesco S&P 500 Minimum Variance ETF 30.0 10 2 7.3 +0.2
IUS Invesco Strategic US ETF 30.0 19 -7 7.9 +0.8
JMOM JPMorgan U.S. Momentum Factor ETF 29.9 12 0 5.2 -2.0
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 29.8 20 -8 6.6 -0.5
EUSA iShares MSCI USA Equal Weighted ETF 29.8 15 -3 8.4 +1.3
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 29.6 17 -5 8.9 +1.8
DGRO iShares Core Dividend Growth ETF 29.5 8 4 8.4 +1.2
VLU SPDR S&P 1500 Value Tilt ETF 29.5 12 0 9.6 +2.4
DEF Invesco Defensive Equity ETF 29.4 55 -43 6.4 -0.8
MMTM SPDR S&P 1500 Momentum Tilt ETF 29.4 12 0 6.7 -0.4
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 29.4 15 -3 6.9 -0.2
IWL iShares Russell Top 200 ETF 29.4 15 -3 6.6 -0.5
ESGU iShares MSCI USA ESG Optimized ETF 29.3 15 -3 6.7 -0.5
SIZE iShares Edge MSCI USA Size Factor ETF 29.2 15 -3 8.3 +1.1
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 29.1 29 -17 9.2 +2.1
RWL Invesco S&P 500 Revenue ETF 29.1 39 -27 9.2 +2.1
KLCD KFA Large Cap Quality Dividend Index ETF 28.7 41 -29 6.6 -0.5
SFY SoFi Select 500 ETF 28.4 0 12 6.7 -0.4
USMF WisdomTree U.S. Multifactor Fund 28.3 28 -16 8.1 +0.9
EXT WisdomTree U.S. Total Earnings Fund 28.0 28 -16 7.7 +0.5
FEX First Trust Large Cap Core AlphaDEX Fund 27.8 60 -48 8.1 +0.9
CATH Global X S&P 500 Catholic Values Custom ETF 27.6 29 -17 7.0 -0.1
TPLC Timothy Plan US Large Cap Core ETF 27.4 52 -40 7.3 +0.2
SPXV ProShares S&P 500 Ex-Health Care ETF 27.2 27 -15 6.8 -0.4
AVUS Avantis U.S. Equity ETF 26.9 15 -3 8.0 +0.8
SNPE Xtrackers S&P 500 ESG ETF 26.8 11 1 6.8 -0.3
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 26.7 25 -13 8.6 +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%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
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
  2019 2020E 2021E
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 ETF
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 15.5 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 12 bp
Equals: ALTAR Score 7.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.57 CATEGORY
AVERAGE
1.51
 
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.