JPMorgan Diversified Return U.S. Mid Cap Equity ETF
ALTAR
Score™
6.3% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
23.3x P/Sales
ratio
1.5x
P/BV
ratio
2.1x Div.
yield
2.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The JPMorgan Diversified Return U.S. Mid Cap Equity ETF track an index of midcap US stocks selected using relative value, momentum and quality factors, and weighted inversely by volatility by sectors and within each sector.

FUND BASICS
Category US Equities
Fund Sponsor JPMorgan
Website am.jpmorgan.com
Inception date May 11, 2016
Assets (mns) $210
Currency USD
Expense ratio 24 bp
Distributions Annually

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 416
Wgt avg mkt cap (mns) $12,562
Large cap (>$10bn) 51.4%
Mid cap ($2-10bn) 48.1%
Small cap (<$2bn) 0.5%
Developed mkts 99.7%
Emerging mkts 0.3%

TOP TEN HOLDINGS
TERADYNE INC 0.5 %
RESMED INC 0.5 %
KLA-TENCOR CORPORATION 0.5 %
VEEVA SYSTEMS INC-CLASS A 0.5 %
FACTSET RESEARCH SYSTEMS INC 0.5 %
TRACTOR SUPPLY COMPANY 0.5 %
CLOROX COMPANY 0.4 %
SYNOPSYS INC 0.4 %
CADENCE DESIGN SYS INC 0.4 %
CHURCH & DWIGHT CO INC 0.4 %
Total 4.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.0 %
IRELAND 1.8 %
BRITAIN 0.8 %
BERMUDA 0.6 %
SWITZERLAND 0.4 %
CHINA 0.4 %
PANAMA 0.3 %
PUERTO RICO 0.2 %



HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-13.8% -7.5% -- -- 5.9%

Market Correlations
versus... Beta R-squared
S&P500 1.14 94%
MSCI EAFE 1.16 84%
MSCI Emg. Mkts. 0.83 68%

Technical Indicators
Recent close $60.03
30d moving avg. $61.16
Annualized volatility 20.0%
Short interest (ETF) 2.2%
Relative strength (RSI) 50

Liquidity measures
Avg. volume (thou.) 34
Turnover 1.0%
Bid/Ask (% of price) 0.16%
ADV underlying (mns) $70,497

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: JPME Expense: 24 bp ALTAR Score™: 6.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH JPME
Ticker Fund
Name
Overlap1
vs JPME
(%)
Expense
ratio
(bp)
Savings
vs JPME
(bp)
ALTAR
Score™
(%)
ALTAR
vs JPME
(%)
JHMM John Hancock Multifactor Mid Cap ETF 54.3 42 -18 5.9 -0.4
JPUS JPMorgan Diversified Return U.S. Equity ETF 52.6 18 6 6.3 -0.0
ONEV SPDR Russell 1000 Low Volatility Focus ETF 52.3 20 4 7.2 +0.8
IWR iShares Russell Midcap ETF 50.9 19 5 5.7 -0.6
IWS iShares Russell Mid-Cap Value ETF 48.8 24 0 7.4 +1.1
BKMC BNY Mellon US Mid Cap Core Equity ETF 48.0 4 20 5.8 -0.5
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 47.2 17 7 6.5 +0.2
ONEO SPDR Russell 1000 Momentum Focus ETF 46.4 20 4 6.6 +0.3
TPLC Timothy Plan US Large Cap Core ETF 46.0 52 -28 5.6 -0.7
EQAL Invesco Russell 1000 Equal Weight ETF 43.0 20 4 5.8 -0.5
VO Vanguard Mid-Cap Index Fund 42.8 4 20 5.5 -0.8
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 42.8 29 -5 6.8 +0.5
CFA VictoryShares US 500 Volatility Weighted Index ETF 42.3 35 -11 6.0 -0.3
SCHM Schwab U.S. Mid-Cap ETF 40.1 4 20 6.4 +0.1
RVRS Reverse Cap Weighted U.S. Large Cap ETF 37.7 29 -5 8.3 +2.0
RSP Invesco S&P 500 Equal Weight ETF 36.6 20 4 6.8 +0.5
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 35.9 35 -11 5.4 -0.9
SIZE iShares Edge MSCI USA Size Factor ETF 35.5 15 9 6.4 +0.1
EUSA iShares MSCI USA Equal Weighted ETF 35.0 15 9 6.3 +0.0
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 34.6 9 15 5.9 -0.4
DON WisdomTree U.S. MidCap Dividend Fund 34.2 38 -14 7.8 +1.5
SCIU Global X Scientific Beta US ETF 34.1 19 5 5.8 -0.5
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 32.4 29 -5 10.0 +3.7
VOE Vanguard Mid-Cap Value Index Fund 32.1 7 17 8.0 +1.7
ONEY SPDR Russell 1000 Yield Focus ETF 31.8 20 4 9.5 +3.2
JMIN JPMorgan U.S. Minimum Volatility ETF 31.7 12 12 5.9 -0.4
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 31.7 17 7 6.6 +0.3
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 31.0 30 -6 6.0 -0.3
RBUS Nationwide Risk-Based U.S. Equity ETF 30.7 30 -6 5.1 -1.2
RNLC Large Cap US Equity Select ETF 29.2 60 -36 6.3 -0.1
FEX First Trust Large Cap Core AlphaDEX Fund 29.0 60 -36 6.1 -0.2
IWP iShares Russell Mid-Cap Growth ETF 28.8 24 0 4.2 -2.1
ROUS Hartford Multifactor US Equity ETF 28.4 19 5 7.4 +1.1
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 27.9 20 4 9.7 +3.4
FSMD Fidelity Small-Mid Factor ETF 27.4 29 -5 7.2 +0.9
JDIV JPMorgan U.S. Dividend ETF 26.7 12 12 8.0 +1.7
USMF WisdomTree U.S. Multifactor Fund 26.7 28 -4 5.5 -0.8
RNMC Mid Cap US Equity Select ETF 26.1 60 -36 8.0 +1.7
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 26.1 7 17 5.6 -0.7
TUSA First Trust Total US Market AlphaDEX ETF 26.1 70 -46 6.1 -0.2
JKG iShares Morningstar Mid-Cap ETF 26.0 25 -1 5.6 -0.7
MDY SPDR S&P Midcap 400 ETF Trust 25.7 23 1 6.6 +0.3
SPMD SPDR Portfolio Mid Cap ETF 25.7 5 19 6.8 +0.5
IJH iShares Core S&P Mid-Cap ETF 25.7 6 18 6.8 +0.5
JVAL JPMorgan U.S. Value Factor ETF 25.4 12 12 8.8 +2.5
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 25.4 20 4 7.7 +1.4
SMMD iShares Russell 2500 ETF 25.4 15 9 5.6 -0.7
FNX First Trust Mid Cap Core AlphaDEX Fund 25.3 61 -37 6.6 +0.3
EZM WisdomTree U.S. MidCap Earnings Fund 25.3 38 -14 9.4 +3.1
IVOO Vanguard S&P Mid-Cap 400 ETF 25.2 10 14 6.6 +0.3
JMOM JPMorgan U.S. Momentum Factor ETF 24.9 12 12 3.9 -2.4
AFMC First Trust Active Factor Mid Cap ETF 24.8 65 -41 6.4 +0.1
VB Vanguard Small-Cap ETF 24.8 5 19 5.5 -0.8
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 24.6 35 -11 6.0 -0.3
BFOR Barron's 400 ETF 24.6 65 -41 6.4 +0.1
JHML John Hancock Multifactor Large Cap ETF 24.4 29 -5 5.6 -0.7
FAB First Trust Multi Cap Value AlphaDEX Fund 24.4 71 -47 9.8 +3.5
LRGF iShares Edge MSCI Multifactor USA ETF 24.4 20 4 7.4 +1.1
SFYX Sofi Next 500 ETF 24.1 0 24 6.1 -0.2
EWMC Invesco S&P MidCap 400 Equal Weight ETF 23.5 40 -16 7.4 +1.1
AMCA iShares Russell 1000 Pure U.S. Revenue ETF 23.0 15 9 6.9 +0.6
AFLG First Trust Active Factor Large Cap ETF 22.9 55 -31 5.6 -0.7
ETHO Etho Climate Leadership U.S. ETF 22.9 47 -23 4.4 -1.9
DYNF BlackRock U.S. Equity Factor Rotation ETF 22.3 30 -6 6.6 +0.3
FLQL Franklin LibertyQ U.S. Equity ETF 22.2 15 9 6.3 +0.0
JKI iShares Morningstar Mid-Cap Value ETF 22.1 30 -6 9.3 +3.0
JKH iShares Morningstar Mid-Cap Growth ETF 21.7 30 -6 2.3 -4.0
ACWF iShares FactorSelect MSCI Global ETF 21.4 35 -11 8.0 +1.7
FAD First Trust Multi Cap Growth AlphaDEX Fund 21.3 66 -42 2.6 -3.7
SMDY Syntax Stratified MidCap ETF 21.2 30 -6 6.5 +0.2
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 20.9 9 15 5.6 -0.8
LVUS Hartford Multifactor Low Volatility US Equity ETF 20.9 19 5 6.1 -0.2
VALQ American Century STOXX U.S. Quality Value ETF 20.5 29 -5 9.2 +2.9
VXF Vanguard Extended Market Index Fund 20.3 7 17 3.8 -2.5
VOT Vanguard Mid-Cap Growth Index Fund 20.0 7 17 3.5 -2.8
JQUA JPMorgan U.S. Quality Factor ETF 19.9 12 12 5.3 -1.0
VBR Vanguard Small Cap Value Index Fund 19.9 7 17 8.6 +2.3
EXT WisdomTree U.S. Total Earnings Fund 19.8 28 -4 5.2 -1.1
IWD iShares Russell 1000 Value ETF 19.7 19 5 7.2 +0.9
PVAL Principal Contrarian Value Index ETF 19.7 29 -5 10.4 +4.1
VONV Vanguard Russell 1000 Value Index Fund 19.7 8 16 7.4 +1.1
MIDF iShares Edge MSCI Multifactor USA Mid-Cap ETF 19.4 25 -1 7.9 +1.6
AVUS Avantis U.S. Equity ETF 19.3 15 9 5.8 -0.5
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 19.2 15 9 5.0 -1.3
BLES Inspire Global Hope Large Cap ETF 19.1 52 -28 6.5 +0.2
IJK iShares S&P Mid-Cap 400 Growth ETF 19.1 24 0 5.0 -1.3
MDYG SPDR S&P 400 Mid Cap Growth ETF 19.1 15 9 5.1 -1.2
CZA Invesco Zacks Mid-Cap ETF 19.0 76 -52 6.3 +0.0
PBSM Invesco PureBeta MSCI USA Small Cap ETF 19.0 6 18 5.5 -0.8
PSET Principal Price Setters Index ETF 19.0 29 -5 4.6 -1.7
RWK Invesco S&P MidCap 400 Revenue ETF 18.8 39 -15 8.3 +2.0
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 18.3 29 -5 6.3 -0.0
FTC First Trust Large Cap Growth AlphaDEX Fund 18.2 61 -37 2.9 -3.4
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 18.1 17 7 5.3 -1.0
MAGA Point Bridge GOP Stock Tracker ETF 18.1 72 -48 6.6 +0.3
VFMF Vanguard U.S. Multifactor ETF 18.1 19 5 7.3 +1.0
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 18.0 75 -51 3.8 -2.5
FVD First Trust Value Line Dividend Index Fund 17.9 70 -46 6.4 +0.1
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 17.9 48 -24 5.9 -0.5
FTA First Trust Large Cap Value AlphaDEX Fund 17.9 60 -36 9.4 +3.1

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

  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 U.S. Mid Cap 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 13.3 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 24 bp
Equals: ALTAR Score 6.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 CATEGORY
AVERAGE
1.52
 
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.