JPMorgan Diversified Rtn. Int'l Equity
ALTAR
Score™
7.5% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
13.9x P/Sales
ratio
0.8x
P/BV
ratio
1.3x Div.
yield
3.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
JPMorgan Diversified Return International Equity ETF is a U.S. registered ETF. The Fund seeks investment results that closely correspond to the performance of the FTSE Developed ex North America Diversified Factor Index.

FUND BASICS
Category International Equities
Fund Sponsor JP Morgan Investment Managemen
Website www.jpmorganetfs.com
Inception date Nov 07, 2014
Assets (mns) $1,272
Currency USD
Expense ratio 38 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 443
Wgt avg mkt cap (mns) $23,679
Large cap (>$10bn) 50.0%
Mid cap ($2-10bn) 46.7%
Small cap (<$2bn) 3.1%
Developed mkts 91.6%
Emerging mkts 8.4%

TOP TEN HOLDINGS
SAMSUNG ELECTRONICS CO LTD 0.5 %
ADVANTEST CORP 0.4 %
UPM-KYMMENE OYJ 0.4 %
SEKISUI HOUSE LTD 0.4 %
DAUM COMMUNICATIONS CORP 0.4 %
CSL LIMITED 0.4 %
TECHTRONIC INDUSTRIES CO 0.4 %
BERKELEY GROUP HOLDINGS 0.4 %
HANNOVER RUECKVERSICHERU-REG 0.4 %
HYNIX SEMICONDUCTOR INC 0.4 %
Total 4.4 %

TOP COUNTRY EXPOSURE
JAPAN 23.8 %
BRITAIN 21.3 %
AUSTRALIA 9.6 %
SOUTH KOREA 7.2 %
HONG KONG 5.5 %
FRANCE 5.3 %
SWEDEN 3.5 %
NETHERLANDS 2.8 %
GERMANY 2.7 %
SINGAPORE 2.5 %

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.
10.8% 7.2% -- -- 4.2%

Market Correlations
versus... Beta R-squared
S&P500 0.69 57%
MSCI EAFE 0.95 91%
MSCI Emg. Mkts. 0.70 80%

Technical Indicators
Recent close $55.31
30d moving avg. $54.42
Annualized volatility 11.1%
Short interest (ETF) 0.0%
Relative strength (RSI) 76

Liquidity measures
Avg. volume (thou.) 247
Turnover 1.1%
Bid/Ask (% of price) 0.08%
ADV underlying (mns) $19,184

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: JPIN Expense: 38 bp ALTAR Score™: 7.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH JPIN
Ticker Fund
Name
Overlap1
vs JPIN
(%)
Expense
ratio
(bp)
Savings
vs JPIN
(bp)
ALTAR
Score™
(%)
ALTAR
vs JPIN
(%)
JPGE JPM Diversified Return Global Equity 49.2 29 9 6.9 -0.6
JPEU JPMorgan Diversified Return Europe Equity 39.5 37 1 6.7 -0.8
DEEF Xtrackers FTSE Dev ex-US Comprehensive Factor 36.2 24 14 7.1 -0.4
PQIN PGIM QMA Strategic Alpha International Equity 34.7 29 9 7.4 -0.1
SCID Global X Scientific Beta Europe 33.3 38 0 6.5 -1.0
CIZ Compass EMP Dev. 500 Enhanced Vol. Wgt. 32.4 45 -7 6.9 -0.6
JHMD John Hancock Multifactor Developed International 32.4 45 -7 7.3 -0.3
CIL Victory CEMP International Volatility Wtd 32.3 45 -7 6.9 -0.6
RODM Lattice Developed Markets (Ex-US) Strategy 31.7 29 9 7.8 +0.2
QEFA SPDR MSCI EAFE Quality Mix 30.6 30 8 6.6 -0.9
GSIE Goldman Sachs ActiveBeta Int'l Equity 30.4 25 13 6.7 -0.8
HFXI IQ 50 Percent Hedged FTSE Int'l 29.7 20 18 7.3 -0.3
PBDM Invesco PureBeta FTSE Developed ex-North America 29.3 7 31 7.6 +0.0
DIM WisdomTree Intl M/C Dividend 29.1 58 -20 7.6 +0.0
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity 28.9 39 -1 6.3 -1.3
UIVM USAA MSCI International Value Momentum Blend Index 28.5 35 3 8.2 +0.7
IDLB Invesco FTSE Int'l Low Beta Equal Weight 28.1 45 -7 7.0 -0.5
EFA iShares MSCI EAFE 28.1 31 7 7.0 -0.5
ESGD iShares MSCI EAFE ESG Optimized 28.0 20 18 6.9 -0.6
RBIN Nationwide Risk-Based International Equity 27.9 42 -4 7.4 -0.2

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

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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:
JPMorgan Diversified Rtn. Int'l Equity
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 10.0 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 38 bp
Equals: ALTAR Score 7.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.69 CATEGORY
AVERAGE
1.63
 
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.