JPMorgan U.S. Momentum Factor
ALTAR
Score™
4.3% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
25.0x P/Sales
ratio
3.1x
P/BV
ratio
4.7x Div.
yield
1.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
JMOM tracks an index of US large-cap companies with strong momentum, weighted by a proprietary method.

FUND BASICS
Category US Equities
Fund Sponsor JPMorgan
Website am.jpmorgan.com
Inception date Nov 08, 2017
Assets (mns) $57
Currency USD
Expense ratio 12 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 267
Wgt avg mkt cap (mns) $129,473
Large cap (>$10bn) 83.7%
Mid cap ($2-10bn) 16.2%
Small cap (<$2bn) 0.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MICROSOFT CORP 2.1 %
BERKSHIRE HATHAWAY INC-CL B 2.1 %
VISA INC-CLASS A SHARES 2.0 %
MASTERCARD INC-CLASS A 1.9 %
HOME DEPOT INC 1.9 %
AMAZON.COM INC 1.8 %
VERIZON COMMUNICATIONS INC 1.8 %
MERCK & CO. INC. 1.7 %
PROCTER & GAMBLE CO/THE 1.6 %
CISCO SYSTEMS INC 1.6 %
Total 18.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.4 %
BRITAIN 1.1 %
CHINA 0.3 %
SWITZERLAND 0.3 %
PUERTO RICO 0.1 %
IRELAND 0.1 %





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.
21.9% 12.3% -- -- 8.1%

Market Correlations
versus... Beta R-squared
S&P500 0.94 90%
MSCI EAFE 0.93 68%
MSCI Emg. Mkts. 0.65 51%

Technical Indicators
Recent close $29.08
30d moving avg. $28.83
Annualized volatility 14.6%
Short interest (ETF) 0.5%
Relative strength (RSI) 52

Liquidity measures
Avg. volume (thou.) 75
Turnover 3.9%
Bid/Ask (% of price) 0.12%
ADV underlying (mns) $61,240

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: JMOM Expense: 12 bp ALTAR Score™: 4.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH JMOM
Ticker Fund
Name
Overlap1
vs JMOM
(%)
Expense
ratio
(bp)
Savings
vs JMOM
(bp)
ALTAR
Score™
(%)
ALTAR
vs JMOM
(%)
FDMO Fidelity Momentum Factor 48.9 29 -17 4.2 -0.1
SPYG SPDR Portfolio S&P 500 Growth 44.8 4 8 5.1 +0.8
IVW iShares S&P 500 Growth 44.8 18 -6 4.9 +0.6
VOOG Vanguard S&P 500 Growth 44.7 15 -3 5.0 +0.6
IUSG iShares Core U.S. Growth 44.4 4 8 5.1 +0.8
OMOM Invesco Russell 1000 Momentum Factor ETF 44.2 19 -7 5.3 +1.0
JQUA JPMorgan U.S. Quality Factor 43.1 12 0 5.8 +1.5
IWF iShares Russell 1000 Growth 41.2 19 -7 5.0 +0.7
VONG Vanguard Russell 1000 Growth 40.9 12 0 5.1 +0.7
MMTM SPDR S&P1500 Momentum Tilt 40.4 12 0 5.4 +1.1
SCHG Schwab U.S. Large-Cap Growth 39.9 4 8 5.0 +0.6
VUG Vanguard Growth ETF 39.6 4 8 4.9 +0.5
MTUM iShares MSCI USA Momentum Factor 39.3 15 -3 4.4 +0.1
OQAL Invesco Russell 1000 Quality Factor ETF 37.8 19 -7 5.3 +0.9
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity 37.7 9 3 6.4 +2.1
SPMO Invesco S&P 500 Momentum Portfolio 37.3 13 -1 4.3 -0.0
OVOL Invesco Russell 1000 Low Volatility Factor ETF 37.3 19 -7 5.6 +1.3
PLC Principal U.S. Large-Cap Multi-Factor Core Index 37.3 15 -3 5.5 +1.1
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 37.1 75 -63 4.7 +0.4
PBP Invesco S&P 500 Buy/Write 36.8 49 -37 5.6 +1.2

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

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 18.7 %
Divided by: Fwd. P/BV 4.2 x
Less: Expense ratio 12 bp
Equals: ALTAR Score 4.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.48 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.