JPMorgan Diversified Return U.S. Mid Cap Equity
ALTAR
Score™
5.7% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
18.4x P/Sales
ratio
1.5x
P/BV
ratio
2.4x Div.
yield
2.1%


  • 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) $220
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 421
Wgt avg mkt cap (mns) $13,948
Large cap (>$10bn) 57.4%
Mid cap ($2-10bn) 42.5%
Small cap (<$2bn) 0.2%
Developed mkts 99.6%
Emerging mkts 0.4%

TOP TEN HOLDINGS
NEWMONT MINING CORP 0.4 %
TERADYNE INC 0.4 %
LAM RESEARCH CORP 0.4 %
CITRIX SYSTEMS INC 0.4 %
TOLL BROTHERS INC 0.4 %
WESTAR ENERGY INC 0.4 %
COPART INC 0.4 %
ENTERGY CORP 0.4 %
COOPER COS INC/THE 0.4 %
AMERICAN WATER WORKS CO INC 0.4 %
Total 4.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.9 %
IRELAND 1.3 %
BERMUDA 0.6 %
BRITAIN 0.6 %
SWITZERLAND 0.4 %
PANAMA 0.4 %
CHINA 0.3 %
PUERTO RICO 0.2 %



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.
25.9% 25.9% -- -- 11.3%

Market Correlations
versus... Beta R-squared
S&P500 0.97 92%
MSCI EAFE 0.90 65%
MSCI Emg. Mkts. 0.59 49%

Technical Indicators
Recent close $70.92
30d moving avg. $70.56
Annualized volatility 12.2%
Short interest (ETF) 0.2%
Relative strength (RSI) 70

Liquidity measures
Avg. volume (thou.) 7
Turnover 0.2%
Bid/Ask (% of price) 0.10%
ADV underlying (mns) $34,857

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the JPMorgan Diversified Return U.S. Mid Cap Equity 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™: 5.7%


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
(%)
IWR iShares Russell Midcap 52.9 19 5 5.5 -0.2
JPUS JPMorgan Diversified Return U.S. Equity 52.8 19 5 6.0 +0.3
JHMM John Hancock Multifactor Mid Cap 52.7 44 -20 5.6 -0.1
ONEV SPDR Russell 1000 Low Volatility Focus 50.9 20 4 6.7 +1.0
IWS iShares Russell Midcap Value 47.7 24 0 6.6 +0.9
DEUS Xtrackers Russell 1000 Comprehensive Factor 45.9 17 7 6.5 +0.8
VO Vanguard Mid-Cap ETF 45.3 4 20 5.5 -0.3
ONEO SPDR Russell 1000 Momentum Focus 45.3 20 4 6.7 +1.0
OSIZ Invesco Russell 1000 Size Factor ETF 44.7 19 5 6.0 +0.3
USEQ Invesco Russell 1000 Enhanced Equal Weight 43.9 29 -5 6.4 +0.7
EQAL Invesco Russel 1000 Equal Weight 41.9 20 4 5.6 -0.1
CFA Compass EMP US 500 Volatility Weighted 40.9 35 -11 5.8 +0.1
CFO Victory CEMP US 500 Enhanced Volatility Wtd 40.7 35 -11 5.8 +0.1
TPLC Timothy Plan US Large Cap Core 40.6 52 -28 5.3 -0.5
RVRS Reverse Cap Weighted US Large Cap 40.1 29 -5 7.3 +1.6
USLB Invesco Russell 1000 Low Beta Equal Weight 39.9 35 -11 5.4 -0.3
SIZE iShares MSCI USA Size Factor 38.5 15 9 5.9 +0.2
EUSA iShares MSCI USA Equal Weight 38.0 15 9 5.9 +0.2
SCHM Schwab US Mid Cap 37.9 4 20 6.0 +0.3
RSP Invesco S&P 500 Equal Weight 37.3 20 4 6.4 +0.7

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%.

Content on this tab for subscribers only**

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

Content on this tab for subscribers only

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 Return U.S. Mid Cap 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 13.3 %
Divided by: Fwd. P/BV 2.2 x
Less: Expense ratio 24 bp
Equals: ALTAR Score 5.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.63 CATEGORY
AVERAGE
1.55
 
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.