JPMorgan Diversified Return U.S. Equity ETF
ALTAR
Score™
6.0% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
22.0x P/Sales
ratio
1.8x
P/BV
ratio
2.7x Div.
yield
2.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The JPMorgan Diversified Return U.S. Equity ETF tracks an index of large-cap US stocks selected from the Russell 1000 using relative value, momentum, quality factors and weighted inversely by volatility by sectors and within each sector.

FUND BASICS
Category US Equities
Fund Sponsor JPMorgan
Website www.jpmorganfunds.com
Inception date Sep 29, 2015
Assets (mns) $574
Currency USD
Expense ratio 18 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Volatility
Index replication
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 394
Wgt avg mkt cap (mns) $73,523
Large cap (>$10bn) 79.7%
Mid cap ($2-10bn) 19.9%
Small cap (<$2bn) 0.3%
Developed mkts 99.9%
Emerging mkts 0.1%

TOP TEN HOLDINGS
ENPHASE ENERGY INC 0.6 %
SOLAREDGE TECHNOLOGIES, INC. 0.6 %
QUIDEL CORP 0.5 %
INTERNATIONAL PAPER CO 0.5 %
DANAHER CORP 0.5 %
AES CORP 0.5 %
THERMO FISHER SCIENTIFIC INC 0.5 %
SOUTHERN CO 0.4 %
NIKE INC -CL B 0.4 %
IDEXX LABORATORIES INC 0.4 %
Total 4.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.2 %
IRELAND 1.8 %
BRITAIN 1.0 %
SWITZERLAND 0.5 %
CHINA 0.1 %
BERMUDA 0.1 %
PUERTO RICO 0.1 %
PANAMA 0.1 %



HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-5.6% -0.2% -- -- 9.7%

Market Correlations
versus... Beta R-squared
S&P500 1.01 94%
MSCI EAFE 1.06 86%
MSCI Emg. Mkts. 0.77 71%

Technical Indicators
Recent close $77.52
30d moving avg. $75.40
Annualized volatility 18.4%
Short interest (ETF) 0.0%
Short interest (Underlying) 3.6%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 23
Turnover 0.3%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $144,291

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: JPUS Expense: 18 bp ALTAR Score™: 6.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH JPUS
Ticker Fund
Name
Overlap1
vs JPUS
(%)
Expense
ratio
(bp)
Savings
vs JPUS
(bp)
ALTAR
Score™
(%)
ALTAR
vs JPUS
(%)
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 55.2 24 -6 5.9 -0.1
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 51.9 17 1 6.6 +0.6
RSP Invesco S&P 500 Equal Weight ETF 51.2 20 -2 6.3 +0.3
CFA VictoryShares US 500 Volatility Weighted Index ETF 51.0 35 -17 5.5 -0.5
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 51.0 35 -17 5.5 -0.4
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 50.0 9 9 5.7 -0.2
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 48.4 17 1 6.1 +0.2
SCIU Global X Scientific Beta US ETF 48.4 19 -1 0.0 -6.0
JHML John Hancock Multifactor Large Cap ETF 47.6 29 -11 5.3 -0.7
RNLC Large Cap US Equity Select ETF 47.0 60 -42 5.9 -0.1
JMIN JPMorgan U.S. Minimum Volatility ETF 46.6 12 6 5.4 -0.6
ONEO SPDR Russell 1000 Momentum Focus ETF 45.9 20 -2 6.2 +0.2
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 45.7 35 -17 5.3 -0.7
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 45.2 29 -11 6.6 +0.6
EUSA iShares MSCI USA Equal Weighted ETF 44.9 15 3 5.9 -0.1
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 44.0 9 9 5.3 -0.6
SIZE iShares MSCI USA Size Factor ETF 43.5 15 3 5.8 -0.1
FEX First Trust Large Cap Core AlphaDEX Fund 42.7 60 -42 5.6 -0.3
QUS SPDR MSCI USA StrategicFactors ETF 42.5 15 3 5.6 -0.3
EQAL Invesco Russell 1000 Equal Weight ETF 42.1 20 -2 5.7 -0.3
ROUS Hartford Multifactor US Equity ETF 41.4 19 -1 6.3 +0.3
VONV Vanguard Russell 1000 Value Index Fund 40.7 8 10 6.8 +0.8
HSPX Global X S&P 500 Covered Call ETF 40.6 60 -42 4.7 -1.2
IWD iShares Russell 1000 Value ETF 40.6 19 -1 6.7 +0.7
AVUS Avantis U.S. Equity ETF 40.3 15 3 5.4 -0.6
PBP Invesco S&P 500 BuyWrite ETF 40.3 49 -31 4.7 -1.2
XYLG Global X S&P 500 Covered Call & Growth ETF 40.2 60 -42 4.8 -1.2
FNDX Schwab Fundamental U.S. Large Co. Index ETF 40.0 25 -7 6.5 +0.5
IVV iShares Core S&P 500 ETF 40.0 3 15 5.1 -0.8
SPY SPDR S&P 500 ETF Trust 39.9 9 9 5.1 -0.9
SPLG SPDR Portfolio Large Cap ETF 39.9 3 15 5.1 -0.8
EPS WisdomTree U.S. Earnings 500 Fund 39.9 8 10 6.2 +0.3
VOOV Vanguard S&P 500 Value ETF 39.8 10 8 7.1 +1.1
PRF Invesco FTSE RAFI US 1000 ETF 39.8 39 -21 6.6 +0.6
SCHV Schwab U.S. Large-Cap Value ETF 39.6 4 14 6.6 +0.7
VOO VANGUARD S&P 500 ETF 39.6 3 15 5.2 -0.8
RBUS Nationwide Risk-Based U.S. Equity ETF 39.6 30 -12 4.6 -1.4
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 39.5 20 -2 5.1 -0.9
SPTM SPDR Portfolio Total Stock Market ETF 39.4 3 15 5.3 -0.7
DYNF BlackRock U.S. Equity Factor Rotation ETF 39.4 30 -12 6.4 +0.4
IWB iShares Russell 1000 ETF 39.3 15 3 4.8 -1.1
SCHX Schwab U.S. Large-Cap ETF 39.2 3 15 4.9 -1.0
JDIV JPMorgan U.S. Dividend ETF 39.2 12 6 7.5 +1.6
PBUS Invesco PureBeta MSCI USA ETF 39.2 4 14 5.0 -1.0
SCHK Schwab 1000 Index ETF 39.1 5 13 5.0 -1.0
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 39.1 7 11 5.0 -1.0
BBUS JP Morgan Betabuilders U.S. Equity ETF 38.9 2 16 5.0 -1.0
IYY iShares Dow Jones U.S. ETF 38.9 20 -2 4.8 -1.1
AFLG First Trust Active Factor Large Cap ETF 38.9 55 -37 5.2 -0.7
ONEV SPDR Russell 1000 Low Volatility Focus ETF 38.9 20 -2 6.7 +0.7
SPYV SPDR Portfolio S&P 500 Value ETF 38.9 4 14 7.1 +1.2
TPLC Timothy Plan US Large Cap Core ETF 38.8 52 -34 5.1 -0.8
IVE iShares S&P 500 Value ETF 38.8 18 0 7.0 +1.0
VONE Vanguard Russell 1000 ETF 38.8 8 10 4.9 -1.0
IUSV iShares Core S&P U.S. Value ETF 38.7 4 14 7.2 +1.3
SPXE ProShares S&P 500 Ex-Energy ETF 38.7 27 -9 5.0 -0.9
FNDB Schwab Fundamental U.S. Broad Market Index ETF 38.7 25 -7 6.5 +0.6
JQUA JPMorgan U.S. Quality Factor ETF 38.6 12 6 5.2 -0.7
VV Vanguard Large-Cap Index Fund 38.5 4 14 5.0 -1.0
FLQL Franklin LibertyQ U.S. Equity ETF 38.5 15 3 6.0 +0.0
SPXT ProShares S&P 500 Ex-Technology ETF 38.4 27 -9 5.3 -0.6
IUS Invesco Strategic US ETF 38.4 19 -1 6.3 +0.3
VTHR Vanguard Russell 3000 Index Fund 38.3 10 8 4.8 -1.2
IWV iShares Russell 3000 ETF 38.1 20 -2 4.7 -1.2
SCHB Schwab U.S. Broad Market ETF 37.9 3 15 4.9 -1.1
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 37.9 29 -11 5.8 -0.2
ITOT iShares Core S&P Total U.S. Stock Market ETF 37.9 3 15 4.8 -1.1
SPXN ProShares S&P 500 Ex-Financials ETF 37.9 27 -9 4.7 -1.2
CATH Global X S&P 500 Catholic Values Custom ETF 37.6 29 -11 4.9 -1.1
VLU SPDR S&P 1500 Value Tilt ETF 37.5 12 6 7.1 +1.1
ESGU iShares MSCI USA ESG Optimized ETF 37.2 15 3 4.8 -1.1
VTI Vanguard Total Stock Market Index Fund 37.2 3 15 4.8 -1.1
DTD WisdomTree U.S.Total Dividend Fund 36.7 28 -10 6.5 +0.6
RWL Invesco S&P 500 Revenue ETF 36.6 39 -21 7.0 +1.0
ESGV Vanguard ESG U.S. Stock ETF 36.2 12 6 4.9 -1.1
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 36.1 25 -7 6.0 +0.1
SFY SoFi Select 500 ETF 36.1 0 18 4.9 -1.0
JVAL JPMorgan U.S. Value Factor ETF 35.8 12 6 8.1 +2.1
DIVB iShares U.S. Dividend & Buyback ETF 35.8 25 -7 6.6 +0.7
DLN WisdomTree U.S. LargeCap Dividend Fund 35.3 28 -10 6.3 +0.3
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 34.9 20 -2 4.7 -1.2
IWS iShares Russell Mid-Cap Value ETF 34.8 24 -6 6.7 +0.7
MGC Vanguard Mega Cap Index Fund 34.6 7 11 4.9 -1.0
EXT WisdomTree U.S. Total Earnings Fund 34.3 28 -10 5.3 -0.6
USMV iShares Edge MSCI Min Vol USA ETF 34.2 15 3 5.4 -0.6
DGRO iShares Core Dividend Growth ETF 34.1 8 10 6.5 +0.5
SPXV ProShares S&P 500 Ex-Health Care ETF 34.1 27 -9 4.8 -1.2
VTV Vanguard Value Index Fund 34.1 4 14 7.1 +1.2
IWR iShares Russell Midcap ETF 33.6 19 -1 5.3 -0.7
USDY Pacific Global US Equity Income ETF 33.6 29 -11 7.0 +1.0
MMTM SPDR S&P 1500 Momentum Tilt ETF 33.5 12 6 4.5 -1.5
IQSU IQ Candriam ESG US Equity ETF 33.3 9 9 4.9 -1.1
KRMA Global X Conscious Companies ETF 33.2 43 -25 5.0 -1.0
RVRS Reverse Cap Weighted U.S. Large Cap ETF 33.1 29 -11 7.2 +1.2
TOK iShares MSCI Kokusai ETF 32.8 25 -7 5.4 -0.6
BKLC BNY Mellon US Large Cap Core Equity ETF 32.7 0 18 4.9 -1.1
IWL iShares Russell Top 200 ETF 32.7 15 3 4.7 -1.2
KOKU Xtrackers MSCI Kokusai Equity ETF 32.6 9 9 5.5 -0.5
QWLD SPDR MSCI World StrategicFactors ETF 32.3 30 -12 6.0 0.0
RECS Columbia Research Enhanced Core ETF 32.3 15 3 5.4 -0.5

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. 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 15.2 %
Divided by: Fwd. P/BV 2.5 x
Less: Expense ratio 18 bp
Equals: ALTAR Score 6.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.54 CATEGORY
AVERAGE
1.51
 
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.