JPMorgan Diversified Return U.S. Equity ETF
ALTAR
Score™
6.1% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
23.2x P/Sales
ratio
1.6x
P/BV
ratio
2.4x Div.
yield
2.5%


  • 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) $622
Currency USD
Expense ratio 19 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 401
Wgt avg mkt cap (mns) $70,631
Large cap (>$10bn) 78.4%
Mid cap ($2-10bn) 20.4%
Small cap (<$2bn) 1.3%
Developed mkts 100.0%
Emerging mkts 0.1%

TOP TEN HOLDINGS
T-MOBILE US, INC. 0.6 %
LULULEMON ATHLETICA INC 0.6 %
ROYAL GOLD INC 0.6 %
SCOTTS MIRACLE-GRO CO-CL A 0.6 %
NEWMONT MINING CORP 0.5 %
GENERAL MILLS INC 0.5 %
DOLLAR GENERAL CORP 0.5 %
CLOROX COMPANY 0.5 %
CITRIX SYSTEMS INC 0.5 %
TRACTOR SUPPLY COMPANY 0.5 %
Total 5.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.8 %
IRELAND 1.7 %
BRITAIN 1.1 %
SWITZERLAND 0.6 %
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 May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-12.0% 1.2% -- -- 8.8%

Market Correlations
versus... Beta R-squared
S&P500 1.05 96%
MSCI EAFE 1.08 87%
MSCI Emg. Mkts. 0.79 72%

Technical Indicators
Recent close $72.31
30d moving avg. $66.69
Annualized volatility 18.1%
Short interest (ETF) 0.1%
Short interest (Underlying) 3.6%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 47
Turnover 0.6%
Bid/Ask (% of price) 0.08%
ADV underlying (mns) $164,905

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: 19 bp ALTAR Score™: 6.1%


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
(%)
SCIU Global X Scientific Beta US ETF 54.5 19 0 5.7 -0.5
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 51.5 24 -5 5.9 -0.2
CFA VictoryShares US 500 Volatility Weighted Index ETF 51.4 35 -16 5.7 -0.4
RSP Invesco S&P 500 Equal Weight ETF 51.0 20 -1 6.6 +0.5
JHML John Hancock Multifactor Large Cap ETF 49.9 34 -15 5.5 -0.6
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 49.8 9 10 5.8 -0.3
RNLC Large Cap US Equity Select ETF 49.6 60 -41 6.0 -0.1
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 48.5 17 2 6.4 +0.2
JMIN JPMorgan U.S. Minimum Volatility ETF 48.2 12 7 5.8 -0.4
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 47.9 9 10 5.6 -0.6
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 47.2 35 -16 5.7 -0.4
EUSA iShares MSCI USA Equal Weighted ETF 47.1 15 4 6.0 -0.2
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 46.7 29 -10 6.5 +0.4
SIZE iShares Edge MSCI USA Size Factor ETF 45.9 15 4 5.8 -0.3
QUS SPDR MSCI USA StrategicFactors ETF 45.3 15 4 5.8 -0.4
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 44.8 17 2 6.8 +0.7
ONEO SPDR Russell 1000 Momentum Focus ETF 44.7 20 -1 6.4 +0.3
DYNF BlackRock U.S. Equity Factor Rotation ETF 44.7 30 -11 6.6 +0.5
PBP Invesco S&P 500 BuyWrite ETF 44.2 49 -30 5.1 -1.0
ROUS Hartford Multifactor US Equity ETF 43.9 19 0 7.1 +0.9
HSPX Global X S&P 500 Covered Call ETF 43.1 65 -46 4.9 -1.2
IVV iShares Core S&P 500 ETF 42.4 4 15 5.5 -0.7
SPLG SPDR Portfolio Large Cap ETF 42.4 3 16 5.5 -0.7
SPY SPDR S&P 500 ETF Trust 42.4 9 10 5.4 -0.7
VOO VANGUARD S&P 500 ETF 42.3 3 16 5.5 -0.7
PBUS Invesco PureBeta MSCI USA ETF 42.2 4 15 5.3 -0.8
VV Vanguard Large-Cap Index Fund 42.2 4 15 5.3 -0.8
SCHX Schwab U.S. Large-Cap ETF 42.1 3 16 5.4 -0.8
FNDX Schwab Fundamental U.S. Large Co. Index ETF 42.0 25 -6 6.4 +0.3
IWB iShares Russell 1000 ETF 42.0 15 4 5.2 -0.9
BBUS JP Morgan Betabuilders U.S. Equity ETF 41.8 2 17 5.4 -0.7
VONE Vanguard Russell 1000 ETF 41.8 8 11 5.3 -0.8
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 41.7 20 -1 5.5 -0.7
AVUS Avantis U.S. Equity ETF 41.7 15 4 5.7 -0.4
PRF Invesco FTSE RAFI US 1000 ETF 41.7 39 -20 6.6 +0.5
SCHK Schwab 1000 Index ETF 41.6 5 14 5.3 -0.8
SPTM SPDR Portfolio Total Stock Market ETF 41.6 3 16 5.6 -0.6
FEX First Trust Large Cap Core AlphaDEX Fund 41.6 60 -41 5.9 -0.2
IYY iShares Dow Jones U.S. ETF 41.5 20 -1 5.2 -0.9
SPXE ProShares S&P 500 Ex-Energy ETF 41.2 27 -8 5.4 -0.8
EPS WisdomTree U.S. Earnings 500 Fund 41.0 8 11 6.4 +0.3
FNDB Schwab Fundamental U.S. Broad Market Index ETF 40.9 25 -6 6.4 +0.3
SPXN ProShares S&P 500 Ex-Financials ETF 40.9 27 -8 5.1 -1.0
SPXT ProShares S&P 500 Ex-Technology ETF 40.8 27 -8 5.6 -0.5
VTI Vanguard Total Stock Market Index Fund 40.7 3 16 5.2 -0.9
IWV iShares Russell 3000 ETF 40.6 20 -1 5.1 -1.0
SCHB Schwab U.S. Broad Market ETF 40.5 3 16 5.3 -0.8
VTHR Vanguard Russell 3000 Index Fund 40.5 10 9 5.2 -1.0
ITOT iShares Core S&P Total U.S. Stock Market ETF 40.5 3 16 5.2 -0.9
IVE iShares S&P 500 Value ETF 40.4 18 1 7.0 +0.9
SPYV SPDR Portfolio S&P 500 Value ETF 40.4 4 15 7.2 +1.0
VOOV Vanguard S&P 500 Value ETF 40.3 15 4 7.1 +0.9
IUSV iShares Core S&P U.S. Value ETF 40.2 4 15 7.2 +1.1
IUS Invesco Strategic US ETF 40.1 19 0 6.2 +0.0
FLQL Franklin LibertyQ U.S. Equity ETF 40.0 15 4 6.2 +0.1
EQAL Invesco Russell 1000 Equal Weight ETF 39.9 20 -1 4.9 -1.2
RBUS Nationwide Risk-Based U.S. Equity ETF 39.7 30 -11 5.1 -1.1
USMV iShares Edge MSCI Min Vol USA ETF 39.5 15 4 5.7 -0.5
RWL Invesco S&P 500 Revenue ETF 39.4 39 -20 6.7 +0.5
CATH Global X S&P 500 Catholic Values Custom ETF 39.3 29 -10 5.3 -0.8
JDIV JPMorgan U.S. Dividend ETF 39.2 12 7 7.7 +1.6
VLU SPDR S&P 1500 Value Tilt ETF 38.9 12 7 7.1 +1.0
SFY SoFi Select 500 ETF 38.8 0 19 5.3 -0.8
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 38.7 29 -10 6.1 -0.1
ONEV SPDR Russell 1000 Low Volatility Focus ETF 38.5 20 -1 6.8 +0.7
DTD WisdomTree U.S.Total Dividend Fund 38.4 28 -9 6.5 +0.4
MGC Vanguard Mega Cap Index Fund 38.2 7 12 5.3 -0.8
IWD iShares Russell 1000 Value ETF 38.2 19 0 6.9 +0.7
VONV Vanguard Russell 1000 Value Index Fund 37.8 8 11 7.0 +0.9
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 37.6 25 -6 6.1 -0.1
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 37.4 20 -1 5.0 -1.1
AFLG First Trust Active Factor Large Cap ETF 37.3 55 -36 5.6 -0.6
DLN WisdomTree U.S. LargeCap Dividend Fund 37.3 28 -9 6.3 +0.1
ESGU iShares MSCI USA ESG Optimized ETF 37.2 15 4 5.1 -1.0
SPXV ProShares S&P 500 Ex-Health Care ETF 37.2 27 -8 5.1 -1.0
JQUA JPMorgan U.S. Quality Factor ETF 37.1 12 7 5.2 -0.9
EXT WisdomTree U.S. Total Earnings Fund 36.7 28 -9 5.7 -0.4
MMTM SPDR S&P 1500 Momentum Tilt ETF 36.6 12 7 5.1 -1.0
DIVB iShares U.S. Dividend & Buyback ETF 36.6 25 -6 6.3 +0.2
RVRS Reverse Cap Weighted U.S. Large Cap ETF 36.1 29 -10 7.0 +0.9
SCHV Schwab U.S. Large-Cap Value ETF 35.9 4 15 6.9 +0.8
DGRO iShares Core Dividend Growth ETF 35.6 8 11 6.4 +0.3
ESGV Vanguard ESG U.S. Stock ETF 35.6 12 7 5.3 -0.9
IQSU IQ Candriam ESG US Equity ETF 35.2 9 10 5.3 -0.9
VTV Vanguard Value Index Fund 35.1 4 15 7.1 +1.0
IWL iShares Russell Top 200 ETF 34.9 15 4 5.1 -1.0
KRMA Global X Conscious Companies ETF 34.7 43 -24 5.2 -0.9
TOK iShares MSCI Kokusai ETF 34.7 25 -6 5.7 -0.4
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 34.6 29 -10 4.3 -1.8
JMOM JPMorgan U.S. Momentum Factor ETF 34.4 12 7 3.9 -2.2
SNPE Xtrackers S&P 500 ESG ETF 34.3 11 8 5.2 -1.0
RNDV US Equity Dividend Select ETF 34.2 50 -31 7.4 +1.3
QWLD SPDR MSCI World StrategicFactors ETF 34.2 30 -11 6.0 -0.1
IWR iShares Russell Midcap ETF 33.9 19 0 5.6 -0.6
JVAL JPMorgan U.S. Value Factor ETF 33.4 12 7 8.5 +2.4
URTH iShares MSCI World ETF 33.3 24 -5 5.8 -0.3
MXDU Nationwide Maximum Diversification US Core Equity ETF 33.1 34 -15 5.2 -0.9
SUSL iShares ESG MSCI USA Leaders ETF 33.0 10 9 5.4 -0.7
TPLC Timothy Plan US Large Cap Core ETF 32.9 52 -33 5.3 -0.8
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 32.9 10 9 5.4 -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%.

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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 14.5 %
Divided by: Fwd. P/BV 2.3 x
Less: Expense ratio 19 bp
Equals: ALTAR Score 6.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.55 CATEGORY
AVERAGE
1.53
 
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.