JPMorgan Diversified Return Emerging Markets Equity ETF
ALTAR
Score™
8.8% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
14.5x P/Sales
ratio
1.3x
P/BV
ratio
1.3x Div.
yield
3.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
JPMorgan Diversified Return Emerging Markets Equity ETF is a U.S. registered exchange-traded fund. The Fund seeks investment results of the FTSE Emerging Diversified Factor Index, which employs a unique risk framework to diversify risks across regions and super sectors, and a multi-factor stock ranking process to identify companies with strong fundamentals.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor JP Morgan Investment Managemen
Website www.jpmorganetfs.com
Inception date Jan 07, 2015
Assets (mns) $286
Currency USD
Expense ratio 45 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian JPMorgan Chase Bank
Weighting Tiered
Index replication Optimized
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 489
Wgt avg mkt cap (mns) $28,126
Large cap (>$10bn) 53.6%
Mid cap ($2-10bn) 36.6%
Small cap (<$2bn) 7.9%
Developed mkts 7.8%
Emerging mkts 90.1%

TOP TEN HOLDINGS
NASPERS LTD-N SHS 2.3 %
CHINA MOBILE LIMITED 1.6 %
TAIWAN SEMICONDUCTOR MANUFAC 1.5 %
VALE SA 1.4 %
RELIANCE INDUSTRIES LTD 1.2 %
INFOSYS TECHNOLOGIES LTD 1.1 %
HINDUSTAN UNILEVER LIMITED 1.0 %
IND & COMM BK OF CHINA - H 1.0 %
PING AN INSURANCE GROUP CO-H 1.0 %
KWEICHOW MOUTAI CO LTD-A 0.8 %
Total 13.0 %

TOP COUNTRY EXPOSURE
CHINA 16.1 %
TAIWAN 13.6 %
BRAZIL 11.5 %
INDIA 8.8 %
SOUTH AFRICA 5.6 %
HONG KONG 5.5 %
MEXICO 4.2 %
INDONESIA 3.9 %
MALAYSIA 3.3 %
THAILAND 2.8 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-21.1% -13.0% -1.0% -- 0.1%

Market Correlations
versus... Beta R-squared
S&P500 0.88 63%
MSCI EAFE 1.07 80%
MSCI Emg. Mkts. 0.93 91%

Technical Indicators
Recent close $47.67
30d moving avg. $43.13
Annualized volatility 18.8%
Short interest (ETF) 0.4%
Relative strength (RSI) 69

Liquidity measures
Avg. volume (thou.) 66
Turnover 1.1%
Bid/Ask (% of price) 0.24%
ADV underlying (mns) $10,941

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the JPMorgan Diversified Return Emerging Markets Equity ETF ETF based on the alternatives' overlap in portfolio holdings with JPEM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: JPEM Expense: 45 bp ALTAR Score™: 8.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH JPEM
Ticker Fund
Name
Overlap1
vs JPEM
(%)
Expense
ratio
(bp)
Savings
vs JPEM
(bp)
ALTAR
Score™
(%)
ALTAR
vs JPEM
(%)
SCHE Schwab Emerging Markets Equity ETF 37.1 13 32 8.5 -0.3
JHEM John Hancock Multifactor Emerging Markets ETF 35.4 55 -10 8.7 -0.1
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 34.9 30 15 9.2 +0.4
VWO Vanguard FTSE Emerging Markets ETF 33.9 10 35 8.7 -0.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 33.2 45 0 8.6 -0.2
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 33.0 50 -5 9.7 +0.9
EEM iShares MSCI Emerging Markets ETF 32.0 68 -23 8.1 -0.7
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 32.0 49 -4 8.1 -0.7
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 31.6 39 6 12.9 +4.1
PXH Invesco FTSE RAFI Emerging Markets ETF 31.6 50 -5 13.5 +4.7
PBEE Invesco PureBeta FTSE Emerging Markets ETF 31.0 14 31 9.4 +0.6
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 30.5 65 -20 8.3 -0.6
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 30.4 30 15 8.7 -0.2
IEMG iShares Core MSCI Emerging Markets ETF 29.8 14 31 8.6 -0.3
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 29.4 49 -4 8.8 +0.0
RNEM Emerging Markets Equity Select ETF 29.1 75 -30 10.3 +1.5
EEMA iShares MSCI Emerging Markets Asia ETF 28.2 50 -5 8.3 -0.5
SPEM SPDR Portfolio Emerging Markets ETF 28.1 11 34 8.5 -0.3
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 28.1 20 25 7.6 -1.3
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 28.0 25 20 8.4 -0.5
EMXC iShares MSCI Emerging Markets ex China ETF 27.9 49 -4 8.2 -0.6
BKF iShares MSCI BRIC ETF 27.5 69 -24 8.3 -0.5
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 26.7 32 13 9.4 +0.5
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 25.0 64 -19 5.2 -3.6
GMF SPDR S&P Emerging Asia Pacific ETF 24.9 49 -4 7.9 -1.0
FLAX Franklin FTSE Asia Ex Japan ETF 24.6 19 26 8.4 -0.5
EMCG WisdomTree Emerging Markets Consumer Growth Fund 24.4 32 13 7.9 -0.9
FDEM Fidelity Targeted Emerging Markets Factor ETF 24.3 45 0 9.6 +0.8
AAXJ iShares MSCI All Country Asia ex Japan ETF 24.3 68 -23 7.8 -1.0
ESGE iShares ESG MSCI EM ETF 24.2 25 20 9.5 +0.7
EMMF WisdomTree Emerging Markets Multifactor Fund 23.3 48 -3 9.7 +0.9
EELV Invesco S&P Emerging Markets Low Volatility ETF 23.3 29 16 9.8 +1.0
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 23.3 59 -14 10.9 +2.1
DVEM WisdomTree Emerging Markets Dividend Fund 23.2 32 13 8.9 +0.1
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 22.1 32 13 6.7 -2.1
ROAM Hartford Multifactor Emerging Markets ETF 21.7 44 1 14.7 +5.9
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 21.7 95 -50 10.0 +1.1
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 21.0 40 5 7.8 -1.0
DEM WisdomTree Emerging Markets High Dividend Fund 20.4 63 -18 13.8 +5.0
ISEM Invesco Strategic Emerging Markets ETF 20.4 35 10 10.2 +1.4
AXJL WisdomTree Asia Pacific ex-Japan Fund 20.3 48 -3 10.0 +1.2
EEMO Invesco S&P Emerging Markets Momentum ETF 19.9 30 15 7.1 -1.8
AVEM Avantis Emerging Markets Equity ETF 18.5 33 12 9.4 +0.6
NUEM Nuveen ESG Emerging Markets Equity ETF 18.4 45 0 7.7 -1.1
EMFM Global X MSCI Next Emerging & Frontier ETF 17.4 55 -10 8.6 -0.3
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 17.3 45 0 9.9 +1.1
FLLA Franklin FTSE Latin America ETF 17.3 19 26 6.9 -2.0
XCEM Columbia EM Core ex-China ETF 16.8 16 29 7.7 -1.1
PIE Invesco DWA Emerging Markets Momentum ETF 16.3 90 -45 5.7 -3.2
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 15.5 45 0 13.2 +4.4
FEM First Trust Emerging Markets AlphaDEX Fund 15.5 80 -35 11.5 +2.7
MCHI iShares MSCI China ETF 15.3 59 -14 9.0 +0.1
FLCH Franklin FTSE China ETF 15.3 19 26 9.1 +0.3
GXC SPDR S&P China ETF 15.1 59 -14 8.8 0.0
KALL KraneShares FTSE Emerging Markets Plus ETF 13.7 49 -4 9.0 +0.2
FLTW Franklin FTSE Taiwan ETF 13.6 19 26 6.6 -2.2
EWT iShares MSCI Taiwan ETF 13.3 59 -14 6.3 -2.5
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 12.7 60 -15 8.3 -0.5
WCHN WisdomTree ICBCCS S&P China 500 Fund 12.6 55 -10 9.2 +0.4
EDIV SPDR S&P Emerging Markets Dividend ETF 12.5 49 -4 11.3 +2.5
ECOW Pacer Emerging Markets Cash Cows 100 ETF 12.3 70 -25 12.8 +4.0
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 12.0 20 25 10.8 +2.0
VYMI Vanguard International High Dividend Yield ETF 12.0 32 13 10.1 +1.2
ECON Columbia Emerging Markets Consumer ETF 11.8 59 -14 4.8 -4.0
CN Xtrackers MSCI All China Equity ETF 11.7 50 -5 9.3 +0.4
FLBR Franklin FTSE Brazil ETF 11.5 19 26 5.3 -3.5
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 10.6 51 -6 13.2 +4.4
AIA iShares Asia 50 ETF 10.4 50 -5 8.8 0.0
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 10.1 16 29 7.1 -1.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 9.8 40 5 7.3 -1.5
FLN First Trust Latin America AlphaDEX Fund 9.5 80 -35 8.0 -0.8
EWZ iShares MSCI Brazil Capped ETF 9.4 59 -14 4.8 -4.1
VSGX Vanguard ESG International Stock ETF 9.4 17 28 7.3 -1.5
VXUS Vanguard Total International Stock Index Fund 9.0 8 37 7.7 -1.2
FXI iShares China Large-Cap ETF 8.9 74 -29 13.3 +4.5
IXUS ishares Core MSCI Total International Stock ETF 8.8 9 36 7.5 -1.3
EPI WisdomTree India Earnings Fund 8.8 85 -40 9.8 +0.9
FLIN Franklin FTSE India ETF 8.8 19 26 6.4 -2.5
PIN Invesco India ETF 8.7 82 -37 6.4 -2.5
VEU Vanguard FTSE All-World ex-US Index Fund 8.6 8 37 7.7 -1.1
ACWX iShares MSCI ACWI ex U.S. ETF 8.5 32 13 7.5 -1.4
INDA iShares MSCI India ETF 8.5 69 -24 6.0 -2.9
CHIL Global X MSCI China Large-Cap 50 ETF 8.4 29 16 9.4 +0.6
VIDI Vident International Equity Fund 8.1 59 -14 11.3 +2.5
FBZ First Trust Brazil AlphaDEX Fund 7.9 80 -35 5.6 -3.3
ACWF iShares FactorSelect MSCI Global ETF 7.8 35 10 8.1 -0.8
NFTY First Trust India NIFTY 50 Equal Weight ETF 7.7 80 -35 8.6 -0.2
INDY iShares India 50 ETF 7.7 94 -49 6.2 -2.6
ACWV iShares Edge MSCI Min Vol Global ETF 7.6 20 25 5.8 -3.0
DNL WisdomTree Global ex-US Dividend Growth Fund 7.6 58 -13 7.9 -1.0
VIGI Vanguard International Dividend Appreciation ETF 7.5 25 20 5.9 -2.9
IXSE WisdomTree India Ex-State-Owned Enterprises Fund 7.3 58 -13 5.5 -3.3
DVYE iShares Emerging Markets Dividend ETF 7.2 49 -4 12.8 +4.0
BICK First Trust BICK Index Fund 7.0 64 -19 4.4 -4.5
CWI SPDR MSCI ACWI ex-US ETF 6.7 30 15 7.6 -1.3
DWCR Arrow DWA Country Rotation ETF 6.6 95 -50 17.6 +8.8
LVIN Hartford Multifactor Low Volatility International Equity ETF 6.5 29 16 12.1 +3.3
IQDF FlexShares International Quality Dividend Index Fund 5.9 47 -2 12.9 +4.1
FRDM Freedom 100 Emerging Markets ETF 5.9 49 -4 7.2 -1.6
FCA First Trust China AlphaDEX Fund 5.9 80 -35 14.8 +6.0

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 Diversified Return Emerging Markets Equity 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 11.8 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 8.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.54 CATEGORY
AVERAGE
1.45
 
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.