JPMorgan Diversified Return Europe Equity ETF
ALTAR
Score™
6.8% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
22.7x P/Sales
ratio
1.2x
P/BV
ratio
1.7x Div.
yield
3.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The JPMorgan Diversified Return Europe Equity ETF tracks an index of stocks from developed European countries screened for value, quality and momentum and weighted to distribute risk equally across economic sectors.

FUND BASICS
Category International Equities
Fund Sponsor JPMorgan
Website www.jpmorganfunds.com
Inception date Dec 18, 2015
Assets (mns) $16
Currency USD
Expense ratio 37 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Tiered
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 340
Wgt avg mkt cap (mns) $29,186
Large cap (>$10bn) 59.1%
Mid cap ($2-10bn) 39.3%
Small cap (<$2bn) 1.3%
Developed mkts 98.7%
Emerging mkts 1.3%

TOP TEN HOLDINGS
DIASORIN SPA 0.8 %
LOGITECH INTERNATIONAL-REG 0.6 %
SARTORIUS STEDIM BIOTECH SA 0.6 %
ORION OYJ CLASS B 0.6 %
POLYMETAL INTERNATIONAL PLC 0.5 %
HIKMA PHARMACEUTICALS PLC 0.5 %
COLOPLAST A/S CLASS B 0.5 %
PADDY POWER PLC 0.5 %
ASML HOLDING NV 0.5 %
ASTRAZENECA PLC 0.5 %
Total 5.6 %

TOP COUNTRY EXPOSURE
BRITAIN 20.0 %
GERMANY 13.1 %
FRANCE 13.1 %
SWITZERLAND 8.9 %
SWEDEN 7.9 %
ITALY 6.9 %
NETHERLANDS 4.9 %
DENMARK 4.7 %
SPAIN 4.6 %
FINLAND 3.4 %

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.
-13.7% -1.4% -- -- 3.1%

Market Correlations
versus... Beta R-squared
S&P500 0.88 80%
MSCI EAFE 1.04 97%
MSCI Emg. Mkts. 0.77 82%

Technical Indicators
Recent close $54.98
30d moving avg. $49.51
Annualized volatility 16.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 72

Liquidity measures
Avg. volume (thou.) 9
Turnover 3.0%
Bid/Ask (% of price) 0.19%
ADV underlying (mns) $25,959

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the JPMorgan Diversified Return Europe Equity ETF ETF based on the alternatives' overlap in portfolio holdings with JPEU. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: JPEU Expense: 37 bp ALTAR Score™: 6.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH JPEU
Ticker Fund
Name
Overlap1
vs JPEU
(%)
Expense
ratio
(bp)
Savings
vs JPEU
(bp)
ALTAR
Score™
(%)
ALTAR
vs JPEU
(%)
SCID Global X Scientific Beta Europe ETF 57.0 38 -1 6.9 +0.1
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 50.4 25 12 6.7 -0.1
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 47.3 30 7 6.8 +0.1
FLEE Franklin FTSE Europe ETF 47.0 9 28 7.0 +0.2
FLEH Franklin FTSE Europe Hedged ETF 46.7 9 28 7.2 +0.4
DBEU Xtrackers MSCI Europe Hedged Equity ETF 44.8 45 -8 6.8 -0.0
BBEU JPMorgan BetaBuilders Europe ETF 44.8 9 28 7.3 +0.5
IEUR iShares Core MSCI Europe ETF 44.5 9 28 7.3 +0.5
IEV iShares Europe ETF 44.1 59 -22 6.8 +0.0
FEU SPDR Portfolio Europe ETF 43.6 9 28 7.3 +0.5
VGK Vanguard FTSE Europe ETF 43.4 8 29 7.3 +0.5
JPIN JPMorgan Diversified Return International Equity ETF 39.4 38 -1 8.0 +1.2
JHMD John Hancock Multifactor Developed International ETF 37.3 45 -8 7.4 +0.6
GSIE Goldman Sachs ActiveBeta International Equity ETF 36.7 25 12 6.8 +0.0
CIL VictoryShares International Volatility Weighted Index ETF 36.1 45 -8 6.7 -0.1
EUMV iShares Edge MSCI Min Vol Europe ETF 35.5 25 12 5.5 -1.3
EFA iShares MSCI EAFE ETF 34.3 32 5 7.2 +0.4
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 34.2 35 2 7.0 +0.3
HFXI IQ 50 Percent Hedged FTSE International ETF 34.1 20 17 7.5 +0.7
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 34.1 45 -8 6.8 -0.0
EURZ Xtrackers Eurozone Equity ETF 33.8 9 28 7.0 +0.2
OEUR O'shares FTSE Europe Quality Dividend ETF 33.8 48 -11 6.6 -0.2
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 33.7 7 30 7.6 +0.8
EZU iShares MSCI Eurozone ETF 33.2 49 -12 6.7 -0.1
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 32.9 20 17 7.3 +0.5
TPIF Timothy Plan International ETF 32.5 62 -25 7.0 +0.2
QEFA SPDR MSCI EAFE Quality Mix ETF 32.5 30 7 6.8 -0.0
IEFA iShares Core MSCI EAFE ETF 32.4 7 30 7.3 +0.5
RBIN Nationwide Risk-Based International Equity ETF 32.3 42 -5 6.5 -0.3
ESGD iShares MSCI EAFE ESG Optimized ETF 32.2 20 17 7.2 +0.4
SCHF Schwab International Equity ETF 31.9 6 31 7.4 +0.6
PDEV Principal International Multi-Factor Core Index ETF 31.6 25 12 7.9 +1.1
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 31.5 24 13 7.2 +0.4
DWM WisdomTree International Equity Fund 31.4 48 -11 8.2 +1.4
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 31.2 35 2 8.6 +1.8
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 30.9 39 -2 6.7 -0.1
IQSI IQ Candriam ESG International Equity ETF 30.9 15 22 7.3 +0.5
IDEV iShares Core MSCI International Developed Markets ETF 30.8 5 32 7.3 +0.5
RFEU First Trust Riverfront Dynamic Europe ETF 30.6 83 -46 5.0 -1.8
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 29.8 45 -8 8.8 +2.1
RNDM Developed International Equity Select ETF 29.7 65 -28 6.4 -0.4
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 29.7 48 -11 0.0 -6.8
IQIN IQ 500 International ETF 29.4 25 12 9.0 +2.2
SPDW SPDR Portfolio Developed World ex-US ETF 29.3 4 33 7.2 +0.4
RODM Hartford Multifactor Developed Markets (ex-US) ETF 29.2 29 8 8.6 +1.8
PQIN PGIM QMA Strategic Alpha International Equity ETF 29.0 29 8 8.1 +1.3
FNDF Schwab Fundamental International Large Co. Index ETF 28.9 25 12 8.7 +1.9
FEP First Trust Europe AlphaDEX Fund 28.8 80 -43 7.9 +1.1
DDEZ WisdomTree Europe Multifactor Fund 28.6 43 -6 7.2 +0.4
VEA Vanguard FTSE Developed Markets ETF 28.6 5 32 7.4 +0.6
EFG iShares MSCI EAFE Growth ETF 28.3 40 -3 4.7 -2.1
RFDI First Trust Riverfront Dynamic Developed International ETF 28.3 83 -46 6.3 -0.5
QINT American Century Quality Diversified International ETF 28.2 39 -2 5.9 -0.9
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 28.0 14 23 7.0 +0.2
DOL WisdomTree International LargeCap Dividend Fund 26.9 48 -11 8.5 +1.8
ISZE iShares Edge MSCI Intl Size Factor ETF 26.6 30 7 6.9 +0.2
ISDX Invesco Strategic Developed ex-US ETF 26.3 23 14 7.4 +0.6
IQLT iShares Edge MSCI Intl Quality Factor ETF 26.1 30 7 6.2 -0.6
ACWX iShares MSCI ACWI ex U.S. ETF 26.0 32 5 7.5 +0.7
CWI SPDR MSCI ACWI ex-US ETF 26.0 30 7 7.6 +0.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 25.8 40 -3 7.4 +0.6
FDEV Fidelity Targeted International Factor ETF 25.7 39 -2 6.5 -0.3
VEU Vanguard FTSE All-World ex-US Index Fund 25.3 8 29 7.7 +1.0
FEUZ First Trust Eurozone AlphaDEX ETF 24.6 80 -43 7.8 +1.0
EFAV iShares Edge MSCI Min Vol EAFE ETF 24.6 20 17 5.9 -0.9
IXUS ishares Core MSCI Total International Stock ETF 24.5 9 28 7.6 +0.8
VXUS Vanguard Total International Stock Index Fund 23.7 8 29 7.7 +0.9
UIVM VictoryShares USAA MSCI International Value Momentum ETF 23.6 35 2 8.6 +1.8
DIM WisdomTree International MidCap Dividend Fund 23.5 58 -21 7.6 +0.8
IMTM iShares Edge MSCI Intl Momentum Factor ETF 23.5 30 7 5.0 -1.8
EFV iShares MSCI EAFE Value ETF 23.4 39 -2 10.0 +3.2
EUDG WisdomTree Europe Quality Dividend Growth Fund 23.1 58 -21 6.1 -0.7
JPGE JPMorgan Diversified Return Global Equity ETF 23.1 29 8 7.3 +0.5
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 22.8 39 -2 9.1 +2.3
IDY Pacific Global International Equity Income ETF 22.7 39 -2 8.0 +1.2
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 22.4 16 21 7.1 +0.3
IDHQ Invesco S&P International Developed High Quality ETF 22.1 29 8 5.4 -1.4
IDLB Invesco FTSE International Low Beta Equal Weight ETF 22.0 45 -8 7.2 +0.4
DTH WisdomTree DEFA Equity Income Fund 22.0 58 -21 9.6 +2.8
VYMI Vanguard International High Dividend Yield ETF 21.8 32 5 10.1 +3.3
AVDE Avantis International Equity ETF 20.9 23 14 7.9 +1.1
IDMO Invesco S&P International Developed Momentum ETF 20.4 25 12 4.7 -2.1
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 20.3 32 5 6.5 -0.3
VSGX Vanguard ESG International Stock ETF 20.2 17 20 7.4 +0.6
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 19.5 45 -8 6.9 +0.1
IDLV Invesco S&P International Developed Low Volatility ETF 19.2 25 12 6.9 +0.1
FLGB Franklin FTSE United Kingdom ETF 19.0 9 28 7.5 +0.7
IGRO iShares International Dividend Growth ETF 18.3 22 15 8.0 +1.2
KLDW Gavekal Knowledge Leaders Developed World ETF 17.2 75 -38 4.8 -2.0
DWMF WisdomTree International Multifactor Fund 17.0 38 -1 6.8 +0.0
PIZ Invesco DWA Developed Markets Momentum ETF 16.9 80 -43 4.3 -2.5
ESGG FlexShares STOXX Global ESG Impact Index Fund 16.6 42 -5 5.6 -1.2
INTF iShares Edge MSCI Multifactor Intl ETF 16.3 30 7 8.3 +1.6
HEDJ WisdomTree Europe Hedged Equity Fund 16.2 58 -21 7.0 +0.3
NUDM Nuveen ESG International Developed Markets Equity ETF 16.2 40 -3 6.9 +0.1
QGBR SPDR MSCI UK StrategicFactors ETF 16.1 14 23 7.6 +0.8
EWU iShares MSCI United Kingdom ETF 16.1 50 -13 7.0 +0.2
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 15.6 58 -21 6.4 -0.4
DOO WisdomTree International Dividend ex-Financials Fund 15.5 58 -21 8.7 +1.9

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 Europe Equity ETF
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 12.0 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 37 bp
Equals: ALTAR Score 6.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.68 CATEGORY
AVERAGE
1.59
 
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.