JPMorgan Diversified Return U.S. Equity ETF
ALTAR
Score™
5.6% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
21.9x P/Sales
ratio
1.9x
P/BV
ratio
2.9x Div.
yield
2.0%


  • 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) $629
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 379
Wgt avg mkt cap (mns) $77,145
Large cap (>$10bn) 81.3%
Mid cap ($2-10bn) 18.4%
Small cap (<$2bn) 0.0%
Developed mkts 99.9%
Emerging mkts 0.1%

TOP TEN HOLDINGS
ENPHASE ENERGY INC 0.5 %
AES CORP 0.5 %
ALBEMARLE CORP 0.5 %
SCOTTS MIRACLE-GRO CO-CL A 0.5 %
TERADYNE INC 0.5 %
CF INDUSTRIES HOLDINGS INC 0.5 %
MORGAN STANLEY 0.5 %
LAM RESEARCH CORP 0.5 %
KLA-TENCOR CORPORATION 0.5 %
HALLIBURTON CO 0.5 %
Total 4.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.1 %
IRELAND 1.4 %
BRITAIN 1.1 %
SWITZERLAND 0.5 %
CHINA 0.1 %
PUERTO RICO 0.1 %
PANAMA 0.1 %




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.
7.4% 7.4% 11.3% -- 11.9%

Market Correlations
versus... Beta R-squared
S&P500 1.00 94%
MSCI EAFE 0.95 84%
MSCI Emg. Mkts. 0.79 73%

Technical Indicators
Recent close $86.11
30d moving avg. $83.97
Annualized volatility 19.4%
Short interest (ETF) 0.1%
Short interest (Underlying) 3.6%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 20
Turnover 0.3%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $144,282

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 96 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™: 5.6%


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 55.7 24 -6 5.5 -0.1
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 50.0 17 1 6.1 +0.5
RSP Invesco S&P 500 Equal Weight ETF 49.9 20 -2 5.6 -0.0
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 49.5 35 -17 5.1 -0.6
CFA VictoryShares US 500 Volatility Weighted Index ETF 49.3 35 -17 5.1 -0.6
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 47.5 9 9 5.0 -0.6
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 46.7 17 1 5.7 +0.1
JHML John Hancock Multifactor Large Cap ETF 45.3 29 -11 4.9 -0.7
RNLC Large Cap US Equity Select ETF 44.9 60 -42 5.3 -0.4
JMIN JPMorgan U.S. Minimum Volatility ETF 44.1 12 6 5.3 -0.3
ONEO SPDR Russell 1000 Momentum Focus ETF 43.8 20 -2 5.6 +0.0
EUSA iShares MSCI USA Equal Weighted ETF 43.0 15 3 5.1 -0.5
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 42.7 29 -11 6.0 +0.4
SIZE iShares MSCI USA Size Factor ETF 42.5 15 3 5.2 -0.5
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 42.3 9 9 4.9 -0.7
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 41.6 35 -17 5.1 -0.5
QUS SPDR MSCI USA StrategicFactors ETF 41.1 15 3 5.3 -0.3
EQAL Invesco Russell 1000 Equal Weight ETF 40.7 20 -2 5.0 -0.6
ROUS Hartford Multifactor US Equity ETF 40.7 19 -1 5.9 +0.3
FEX First Trust Large Cap Core AlphaDEX Fund 40.1 60 -42 4.7 -0.9
DYNF BlackRock U.S. Equity Factor Rotation ETF 40.0 30 -12 5.3 -0.3
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 39.3 29 -11 7.3 +1.7
TPLC Timothy Plan US Large Cap Core ETF 39.0 52 -34 4.5 -1.2
SPYV SPDR Portfolio S&P 500 Value ETF 39.0 4 14 6.4 +0.8
IVE iShares S&P 500 Value ETF 39.0 18 0 6.3 +0.6
IUSV iShares Core S&P U.S. Value ETF 38.7 4 14 6.4 +0.8
VOOV Vanguard S&P 500 Value ETF 38.6 10 8 6.6 +0.9
AFLG First Trust Active Factor Large Cap ETF 38.3 55 -37 4.8 -0.9
PBP Invesco S&P 500 BuyWrite ETF 38.3 49 -31 4.4 -1.3
RBUS Nationwide Risk-Based U.S. Equity ETF 38.3 30 -12 4.6 -1.0
VONV Vanguard Russell 1000 Value Index Fund 38.3 8 10 6.1 +0.5
JQUA JPMorgan U.S. Quality Factor ETF 38.3 12 6 5.1 -0.5
ESGV Vanguard ESG U.S. Stock ETF 38.2 12 6 4.6 -1.1
AVUS Avantis U.S. Equity ETF 38.2 15 3 4.9 -0.7
XYLG Global X S&P 500 Covered Call & Growth ETF 38.0 60 -42 4.4 -1.2
SPLG SPDR Portfolio Large Cap ETF 37.9 3 15 4.8 -0.8
SPY SPDR S&P 500 ETF Trust 37.9 9 9 4.8 -0.9
IVV iShares Core S&P 500 ETF 37.8 3 15 4.8 -0.8
EPS WisdomTree U.S. Earnings 500 Fund 37.8 8 10 6.0 +0.4
VOO VANGUARD S&P 500 ETF 37.8 3 15 4.9 -0.7
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 37.8 20 -2 4.9 -0.8
FNDX Schwab Fundamental U.S. Large Co. Index ETF 37.7 25 -7 5.8 +0.2
FLQL Franklin LibertyQ U.S. Equity ETF 37.7 15 3 6.0 +0.4
PRF Invesco FTSE RAFI US 1000 ETF 37.6 39 -21 5.8 +0.2
SCHV Schwab U.S. Large-Cap Value ETF 37.4 4 14 6.1 +0.4
IWD iShares Russell 1000 Value ETF 37.3 19 -1 6.0 +0.4
DFAU Dimensional US Core Equity Market ETF 37.2 12 6 4.7 -0.9
PBUS Invesco PureBeta MSCI USA ETF 37.2 4 14 4.7 -0.9
JDIV JPMorgan U.S. Dividend ETF 37.2 12 6 6.7 +1.1
SCHX Schwab U.S. Large-Cap ETF 37.2 3 15 4.6 -1.0
IWB iShares Russell 1000 ETF 37.2 15 3 4.6 -1.1
SPTM SPDR Portfolio Total Stock Market ETF 37.1 3 15 4.9 -0.8
ONEV SPDR Russell 1000 Low Volatility Focus ETF 37.1 20 -2 6.2 +0.6
IUS Invesco Strategic US ETF 37.1 19 -1 5.5 -0.1
SCHK Schwab 1000 Index ETF 37.0 5 13 4.7 -1.0
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 36.9 7 11 4.6 -1.0
IYY iShares Dow Jones U.S. ETF 36.8 20 -2 4.5 -1.1
BBUS JP Morgan Betabuilders U.S. Equity ETF 36.7 2 16 4.7 -0.9
SPXE ProShares S&P 500 Ex-Energy ETF 36.7 27 -9 4.7 -0.9
VV Vanguard Large-Cap Index Fund 36.5 4 14 4.7 -1.0
JVAL JPMorgan U.S. Value Factor ETF 36.5 12 6 7.2 +1.6
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 36.4 30 -12 5.1 -0.5
VTHR Vanguard Russell 3000 Index Fund 36.3 10 8 4.5 -1.2
FNDB Schwab Fundamental U.S. Broad Market Index ETF 36.3 25 -7 5.7 +0.1
CATH Global X S&P 500 Catholic Values Custom ETF 36.1 29 -11 4.7 -1.0
IWV iShares Russell 3000 ETF 35.8 20 -2 4.4 -1.3
SPXT ProShares S&P 500 Ex-Technology ETF 35.8 27 -9 4.9 -0.7
SPXN ProShares S&P 500 Ex-Financials ETF 35.7 27 -9 4.5 -1.1
SCHB Schwab U.S. Broad Market ETF 35.7 3 15 4.5 -1.1
ITOT iShares Core S&P Total U.S. Stock Market ETF 35.6 3 15 4.5 -1.1
VONE Vanguard Russell 1000 ETF 35.5 8 10 4.6 -1.0
ESGU iShares MSCI USA ESG Optimized ETF 35.4 15 3 4.5 -1.1
VTI Vanguard Total Stock Market Index Fund 35.2 3 15 4.5 -1.1
RWL Invesco S&P 500 Revenue ETF 35.0 39 -21 6.3 +0.7
RESP WisdomTree US ESG Fund of Benef Interest 35.0 28 -10 5.2 -0.5
VLU SPDR S&P 1500 Value Tilt ETF 34.8 12 6 6.2 +0.6
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 34.6 20 -2 4.7 -1.0
DIVB iShares U.S. Dividend & Buyback ETF 34.5 25 -7 5.9 +0.3
KRMA Global X Conscious Companies ETF 34.1 43 -25 4.9 -0.7
SFY SoFi Select 500 ETF 34.0 0 18 4.6 -1.0
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 34.0 60 -42 4.7 -1.0
RVRS Reverse Cap Weighted U.S. Large Cap ETF 34.0 29 -11 6.1 +0.5
DTD WisdomTree U.S.Total Dividend Fund 33.8 28 -10 6.3 +0.7
JCTR JPMorgan Carbon Transition U.S. Equity ETF 33.5 15 3 4.7 -0.9
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 33.3 25 -7 5.0 -0.7
IWS iShares Russell Mid-Cap Value ETF 33.1 24 -6 6.0 +0.3
MGC Vanguard Mega Cap Index Fund 32.9 7 11 4.7 -0.9
DLN WisdomTree U.S. LargeCap Dividend Fund 32.8 28 -10 6.2 +0.6
DGRO iShares Core Dividend Growth ETF 32.7 8 10 6.0 +0.4
MMTM SPDR S&P 1500 Momentum Tilt ETF 32.7 12 6 4.1 -1.5
IQSU IQ Candriam ESG US Equity ETF 32.3 9 9 4.6 -1.0
BKMC BNY Mellon US Mid Cap Core Equity ETF 32.1 4 14 4.9 -0.7
VTV Vanguard Value Index Fund 32.1 4 14 6.5 +0.9
SPXV ProShares S&P 500 Ex-Health Care ETF 32.1 27 -9 4.4 -1.3
IWR iShares Russell Midcap ETF 31.8 19 -1 4.7 -0.9
FAB First Trust Multi Cap Value AlphaDEX Fund 31.3 71 -53 7.5 +1.9

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:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.4 %
Divided by: Fwd. P/BV 2.7 x
Less: Expense ratio 18 bp
Equals: ALTAR Score 5.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.54 CATEGORY
AVERAGE
1.49
 
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.