JPMorgan Diversified Return U.S. Small Cap Equity ETF
ALTAR
Score™
4.7% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
90.4x P/Sales
ratio
0.9x
P/BV
ratio
1.5x Div.
yield
1.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The JPMorgan Diversified Return U.S. Small Cap Equity ETF tracks a multi-factor index comprised of US small-cap stocks. The index uses a combination of fundamental and technical factors for stock selection, and inverse volatility for weighting.

FUND BASICS
Category US Equities
Fund Sponsor JPMorgan
Website am.jpmorgan.com
Inception date Nov 15, 2016
Assets (mns) $145
Currency USD
Expense ratio 29 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 721
Wgt avg mkt cap (mns) $2,149
Large cap (>$10bn) 0.6%
Mid cap ($2-10bn) 45.3%
Small cap (<$2bn) 53.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
LITHIA MOTORS INC-CL A 0.5 %
HECLA MINING CO 0.5 %
MEDIFAST INC 0.4 %
MERITAGE HOMES CORP 0.4 %
PLUG POWER INC 0.4 %
OWENS & MINOR INC 0.4 %
YETI HOLDINGS, INC. 0.4 %
NEOGENOMICS INC 0.4 %
COEUR D'ALENE MINES CORP 0.4 %
MEDPACE HOLDINGS, INC. 0.4 %
Total 4.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.8 %
BERMUDA 1.4 %
CANADA 0.7 %
PUERTO RICO 0.2 %
LUXEMBOURG 0.2 %
CAYMAN ISLANDS 0.2 %
NETHERLANDS 0.1 %
IRELAND 0.1 %
BRITAIN 0.1 %
MONACO 0.0 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-12.0% -7.4% -- -- 4.1%

Market Correlations
versus... Beta R-squared
S&P500 1.26 87%
MSCI EAFE 1.31 80%
MSCI Emg. Mkts. 0.91 64%

Technical Indicators
Recent close $29.53
30d moving avg. $27.71
Annualized volatility 23.1%
Short interest (ETF) 0.0%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 20
Turnover 0.4%
Bid/Ask (% of price) 0.22%
ADV underlying (mns) $12,156

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: JPSE Expense: 29 bp ALTAR Score™: 4.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH JPSE
Ticker Fund
Name
Overlap1
vs JPSE
(%)
Expense
ratio
(bp)
Savings
vs JPSE
(bp)
ALTAR
Score™
(%)
ALTAR
vs JPSE
(%)
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 53.3 20 9 4.9 +0.1
IWM iShares Russell 2000 ETF 53.0 19 10 3.5 -1.3
VTWO Vanguard Russell 2000 Index Fund 52.0 10 19 3.6 -1.1
SPSM SPDR Portfolio Small Cap ETF 45.8 5 24 6.7 +1.9
SLY SPDR S&P 600 Small Cap ETF 45.8 15 14 6.5 +1.8
IJR iShares Core S&P Small Cap ETF 45.7 7 22 6.6 +1.9
VIOO Vanguard S&P Small-Cap 600 ETF 45.6 10 19 6.6 +1.9
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 43.9 40 -11 6.3 +1.6
IWN iShares Russell 2000 Value ETF 41.9 24 5 6.9 +2.2
IWO iShares Russell 2000 Growth ETF 40.4 24 5 -0.1 -4.8
VTWG Vanguard Russell 2000 Growth Index Fund 39.9 15 14 -0.0 -4.8
SCHA Schwab U.S. Small-Cap ETF 38.4 4 25 4.4 -0.3
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 37.9 39 -10 4.0 -0.7
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 37.6 29 0 0.0 -4.7
VTWV Vanguard Russell 2000 Value Index Fund 37.5 15 14 7.1 +2.4
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 37.3 35 -6 7.8 +3.1
SSLY Syntax Stratified SmallCap ETF 36.9 30 -1 6.0 +1.2
FYX First Trust Small Cap Core AlphaDEX Fund 36.5 63 -34 6.3 +1.6
FNDA Schwab Fundamental U.S. Small Co. Index ETF 36.1 25 4 6.2 +1.5
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 35.8 35 -6 5.8 +1.1
IUSS Invesco Strategic US Small Company ETF 35.5 23 6 5.2 +0.5
AFSM First Trust Active Factor Small Cap ETF 34.9 75 -46 5.3 +0.5
VIOG Vanguard S&P Small-Cap 600 Growth ETF 34.7 16 13 5.0 +0.3
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 34.7 24 5 6.6 +1.8
SLYG SPDR S&P 600 Small Cap Growth ETF 34.3 15 14 5.1 +0.3
IJT iShares S&P Small-Cap 600 Growth ETF 34.3 25 4 5.0 +0.2
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 33.9 35 -6 7.9 +3.2
RWJ Invesco S&P SmallCap 600 Revenue ETF 33.9 39 -10 6.2 +1.4
CSML IQ Chaikin U.S. Small Cap ETF 33.1 35 -6 3.7 -1.0
BKSE BNY Mellon US Small Cap Core Equity ETF 31.9 4 25 5.8 +1.1
PBSM Invesco PureBeta MSCI USA Small Cap ETF 31.7 6 23 5.0 +0.3
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 31.3 30 -1 7.2 +2.5
SLYV SPDR S&P 600 Small Cap Value ETF 30.7 15 14 8.5 +3.7
IJS iShares S&P Small-cap 600 Value ETF 30.7 25 4 8.4 +3.6
VIOV Vanguard S&P Small-Cap 600 Value ETF 30.7 15 14 8.5 +3.7
ISMD Inspire Small/Mid Cap Impact ETF 30.6 60 -31 6.0 +1.3
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 30.5 17 12 4.9 +0.2
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 30.5 29 0 6.0 +1.3
PSC Principal U.S. Small Cap Index ETF 30.2 38 -9 6.6 +1.9
EES WisdomTree SmallCap Earnings Fund 30.2 38 -9 10.6 +5.9
FSMD Fidelity Small-Mid Factor ETF 29.5 29 0 6.7 +2.0
JHSC John Hancock Multifactor Small Cap ETF 28.5 42 -13 5.6 +0.9
DES WisdomTree U.S. SmallCap Dividend Fund 27.5 38 -9 8.2 +3.5
RNSC Small Cap US Equity Select ETF 26.6 60 -31 7.0 +2.2
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 26.2 12 17 7.3 +2.6
VBR Vanguard Small Cap Value Index Fund 25.5 7 22 8.1 +3.3
AVUV Avantis U.S. Small Cap Value ETF 25.0 25 4 8.4 +3.7
VB Vanguard Small-Cap ETF 24.7 5 24 5.2 +0.5
ROGS Hartford Multifactor Global Small Cap ETF 23.7 34 -5 7.6 +2.9
NUSC Nuveen ESG Small-Cap ETF 23.3 40 -11 4.9 +0.1
FYC First Trust Small Cap Growth AlphaDEX Fund 21.3 70 -41 1.8 -2.9
VFMF Vanguard U.S. Multifactor ETF 20.7 19 10 6.8 +2.1
JKK iShares Morningstar Small-Cap Growth ETF 20.5 30 -1 1.0 -3.7
VXF Vanguard Extended Market Index Fund 20.1 7 22 3.5 -1.2
FYT First Trust Small Cap Value AlphaDEX Fund 20.1 72 -43 9.7 +5.0
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 20.0 20 9 4.6 -0.2
VBK Vanguard Small-Cap Growth Index Fund 19.8 7 22 2.2 -2.5
JKJ iShares Morningstar Small-Cap ETF 19.5 25 4 6.4 +1.7
EWMC Invesco S&P MidCap 400 Equal Weight ETF 19.1 40 -11 6.8 +2.1
RZG Invesco S&P Smallcap 600 Pure Growth ETF 18.8 35 -6 5.7 +0.9
EZM WisdomTree U.S. MidCap Earnings Fund 18.4 38 -9 8.8 +4.1
VFQY Vanguard U.S. Quality Factor ETF 18.3 13 16 5.8 +1.1
SQLV Legg Mason Small-Cap Quality Value 17.8 62 -33 7.4 +2.7
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 17.8 20 9 9.2 +4.5
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 17.6 38 -9 8.5 +3.7
PXSG Invesco S&P SmallCap Momentum ETF 17.1 39 -10 4.7 -0.1
FAD First Trust Multi Cap Growth AlphaDEX Fund 16.2 66 -37 2.2 -2.5
FNX First Trust Mid Cap Core AlphaDEX Fund 16.2 61 -32 6.4 +1.7
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 16.1 39 -10 6.5 +1.8
SMDY Syntax Stratified MidCap ETF 16.1 30 -1 6.1 +1.3
VFLQ Vanguard U.S. Liquidity Factor ETF 15.9 14 15 4.5 -0.2
MDY SPDR S&P Midcap 400 ETF Trust 15.9 23 6 6.2 +1.4
SPMD SPDR Portfolio Mid Cap ETF 15.8 5 24 6.3 +1.6
IJH iShares Core S&P Mid-Cap ETF 15.8 6 23 6.3 +1.6
FAB First Trust Multi Cap Value AlphaDEX Fund 15.7 71 -42 9.7 +5.0
IVOO Vanguard S&P Mid-Cap 400 ETF 15.5 10 19 6.2 +1.5
VFVA Vanguard U.S. Value Factor ETF 15.5 14 15 11.0 +6.2
RNMC Mid Cap US Equity Select ETF 15.0 60 -31 7.3 +2.6
VFMO Vanguard U.S. Momentum Factor ETF 13.6 13 16 0.1 -4.6
AFMC First Trust Active Factor Mid Cap ETF 13.5 65 -36 5.9 +1.2
BFOR Barron's 400 ETF 13.5 65 -36 6.1 +1.3
DWAS Invesco DWA SmallCap Momentum ETF 13.5 60 -31 -2.3 -7.0
XSLV Invesco S&P SmallCap Low Volatility ETF 13.0 25 4 5.8 +1.1
IJJ iShares S&P Mid-Cap 400 Value ETF 12.9 25 4 8.2 +3.5
MDYV SPDR S&P 400 Mid Cap Value ETF 12.9 15 14 8.3 +3.6
XSHQ Invesco S&P SmallCap Quality ETF 12.9 29 0 6.3 +1.5
IVOV Vanguard S&P Mid-Cap 400 Value ETF 12.6 15 14 8.3 +3.6
TUSA First Trust Total US Market AlphaDEX ETF 12.5 70 -41 5.7 +1.0
VUSE Vident Core US Equity Fund 12.4 48 -19 7.5 +2.7
RWK Invesco S&P MidCap 400 Revenue ETF 12.1 39 -10 7.7 +2.9
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 11.9 7 22 5.3 +0.6
XSVM Invesco S&P SmallCap Value with Momentum ETF 11.6 39 -10 9.5 +4.7
IWC iShares Micro-Cap ETF 11.5 60 -31 -3.5 -8.3
CALF Pacer US Small Cap Cash Cows 100 ETF 11.5 59 -30 10.5 +5.8
PSCD Invesco S&P SmallCap Consumer Discretionary ETF 11.3 29 0 7.5 +2.8
JKL iShares Morningstar Small Cap Value ETF 11.2 30 -1 10.0 +5.3
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 11.2 80 -51 5.1 +0.4
SFYX Sofi Next 500 ETF 11.2 0 29 5.7 +1.0
FNY First Trust Mid Cap Growth AlphaDEX Fund 11.1 70 -41 2.0 -2.8
IJK iShares S&P Mid-Cap 400 Growth ETF 10.6 24 5 4.7 -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

  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. Small Cap 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 7.5 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 4.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.56 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.