JPM Diversified Return Global Equity
ALTAR
Score™
6.6% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
15.6x P/Sales
ratio
1.0x
P/BV
ratio
1.6x Div.
yield
2.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The JPMorgan Diversified Return Global Equity ETF is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that closely correspond, before fees and expenses, to the performance of the FTSE Developed Diversified Factor Index.

FUND BASICS
Category Global Equities
Fund Sponsor JP Morgan Investment Mgmt
Website www.jpmorganetfs.com
Inception date Jun 17, 2014
Assets (mns) $120
Currency USD
Expense ratio 29 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian Bank of New York Mellon
Weighting Tiered
Index replication Optimized
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 571
Wgt avg mkt cap (mns) $34,840
Large cap (>$10bn) 67.9%
Mid cap ($2-10bn) 30.6%
Small cap (<$2bn) 1.5%
Developed mkts 91.8%
Emerging mkts 8.2%

TOP TEN HOLDINGS
SAMSUNG ELECTRONICS CO LTD 0.4 %
SEMICONDUCTOR MANUFACTURING INTERN 0.4 %
HYNIX SEMICONDUCTOR INC 0.4 %
NHN CORP 0.3 %
FORTESCUE METALS GROUP LTD 0.3 %
SONY CORP 0.3 %
SANDS CHINA LTD 0.3 %
SWEDISH MATCH AB 0.3 %
DAUM COMMUNICATIONS CORP 0.3 %
LAM RESEARCH CORP 0.3 %
Total 3.5 %

TOP COUNTRY EXPOSURE
JAPAN 22.3 %
UNITED STATES 20.5 %
AUSTRALIA 10.3 %
SOUTH KOREA 7.4 %
BRITAIN 5.1 %
HONG KONG 4.3 %
FRANCE 3.8 %
CANADA 3.4 %
SWITZERLAND 2.7 %
SWEDEN 2.6 %

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.
18.0% 18.0% 7.4% -- 6.0%

Market Correlations
versus... Beta R-squared
S&P500 0.72 77%
MSCI EAFE 0.87 91%
MSCI Emg. Mkts. 0.62 79%

Technical Indicators
Recent close $62.99
30d moving avg. $62.39
Annualized volatility 10.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 14
Turnover 0.7%
Bid/Ask (% of price) 0.09%
ADV underlying (mns) $44,811

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the JPM Diversified Return Global Equity ETF based on the alternatives' overlap in portfolio holdings with JPGE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: JPGE Expense: 29 bp ALTAR Score™: 6.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH JPGE
Ticker Fund
Name
Overlap1
vs JPGE
(%)
Expense
ratio
(bp)
Savings
vs JPGE
(bp)
ALTAR
Score™
(%)
ALTAR
vs JPGE
(%)
JPIN JPMorgan Diversified Rtn. Int'l Equity 50.3 38 -9 7.1 +0.5
CIL Victory CEMP International Volatility Wtd 35.6 45 -16 6.7 +0.1
CIZ Compass EMP Dev. 500 Enhanced Vol. Wgt. 35.6 45 -16 6.7 +0.1
PQIN PGIM QMA Strategic Alpha International Equity 35.5 29 0 7.0 +0.4
DEEF Xtrackers FTSE Dev ex-US Comprehensive Factor 34.3 24 5 6.8 +0.2
ISZE iShares MSCI Int'l Developed Size Factor 31.6 30 -1 6.6 +0.0
GSIE Goldman Sachs ActiveBeta Int'l Equity 31.2 25 4 6.4 -0.2
HFXI IQ 50 Percent Hedged FTSE Int'l 30.6 20 9 7.0 +0.4
TPIF Timothy Plan International 30.5 62 -33 6.4 -0.3
UIVM USAA MSCI International Value Momentum Blend Index 29.7 35 -6 7.9 +1.3
RODM Lattice Developed Markets (Ex-US) Strategy 29.6 29 0 7.5 +0.9
JHMD John Hancock Multifactor Developed International 29.5 45 -16 7.0 +0.4
PBDM Invesco PureBeta FTSE Developed ex-North America 29.1 7 22 7.3 +0.6
IDLB Invesco FTSE Int'l Low Beta Equal Weight 29.0 45 -16 6.8 +0.2
FNDF Schwab Fundamental Intl Large Cap 28.9 25 4 7.5 +0.8
SCHF Schwab International Equity 28.9 6 23 7.1 +0.5
QEFA SPDR MSCI EAFE Quality Mix 28.7 30 -1 6.4 -0.2
VPL Vanguard Pacific ETF 28.5 9 20 7.5 +0.9
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity 28.2 39 -10 6.1 -0.5
EFA iShares MSCI EAFE 28.0 31 -2 6.7 +0.1

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

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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:
JPM Diversified Return Global Equity
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.4 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 6.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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