JPMorgan Diversified Return U.S. Equity ETF
ALTAR
Score™
6.0% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
22.6x P/Sales
ratio
1.8x
P/BV
ratio
2.6x Div.
yield
2.3%


  • 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) $564
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 397
Wgt avg mkt cap (mns) $74,881
Large cap (>$10bn) 79.1%
Mid cap ($2-10bn) 20.7%
Small cap (<$2bn) 0.2%
Developed mkts 100.0%
Emerging mkts 0.1%

TOP TEN HOLDINGS
APPLE INC 0.5 %
LAM RESEARCH CORP 0.5 %
IDEXX LABORATORIES INC 0.5 %
QUIDEL CORP 0.5 %
EBAY INC 0.5 %
CHURCH & DWIGHT CO INC 0.5 %
CADENCE DESIGN SYS INC 0.5 %
SOUTHERN COPPER CORP 0.5 %
MICROSOFT CORP 0.5 %
PRAXAIR INC 0.5 %
Total 4.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.1 %
IRELAND 1.7 %
BRITAIN 1.1 %
SWITZERLAND 0.6 %
CHINA 0.1 %
BERMUDA 0.1 %
PUERTO RICO 0.1 %
PANAMA 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.
-7.0% -1.0% -- -- 9.7%

Market Correlations
versus... Beta R-squared
S&P500 1.05 96%
MSCI EAFE 1.08 86%
MSCI Emg. Mkts. 0.76 71%

Technical Indicators
Recent close $74.24
30d moving avg. $71.51
Annualized volatility 18.3%
Short interest (ETF) 0.0%
Short interest (Underlying) 3.6%
Relative strength (RSI) 69

Liquidity measures
Avg. volume (thou.) 42
Turnover 0.6%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $128,744

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
(%)
RSP Invesco S&P 500 Equal Weight ETF 53.0 20 -2 6.5 +0.5
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 53.0 24 -6 6.0 -0.1
CFA VictoryShares US 500 Volatility Weighted Index ETF 53.0 35 -17 5.6 -0.4
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 51.6 17 1 6.3 +0.3
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 50.7 9 9 5.8 -0.2
SCIU Global X Scientific Beta US ETF 49.0 19 -1 5.6 -0.4
JHML John Hancock Multifactor Large Cap ETF 48.9 29 -11 5.4 -0.7
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 48.6 17 1 6.2 +0.1
RNLC Large Cap US Equity Select ETF 47.8 60 -42 6.1 +0.0
JMIN JPMorgan U.S. Minimum Volatility ETF 47.5 12 6 5.4 -0.7
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 46.7 35 -17 5.2 -0.8
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 46.6 9 9 5.3 -0.7
ONEO SPDR Russell 1000 Momentum Focus ETF 46.0 20 -2 6.2 +0.2
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 45.9 29 -11 6.7 +0.7
EUSA iShares MSCI USA Equal Weighted ETF 45.6 15 3 6.0 0.0
SIZE iShares Edge MSCI USA Size Factor ETF 44.8 15 3 6.1 +0.1
DYNF BlackRock U.S. Equity Factor Rotation ETF 44.7 30 -12 6.3 +0.3
EQAL Invesco Russell 1000 Equal Weight ETF 43.7 20 -2 5.4 -0.6
QUS SPDR MSCI USA StrategicFactors ETF 43.7 15 3 5.7 -0.4
ROUS Hartford Multifactor US Equity ETF 43.6 19 -1 7.0 +1.0
PBP Invesco S&P 500 BuyWrite ETF 41.8 49 -31 4.8 -1.2
FEX First Trust Large Cap Core AlphaDEX Fund 41.6 60 -42 5.8 -0.2
VONV Vanguard Russell 1000 Value Index Fund 41.3 8 10 6.9 +0.9
IWD iShares Russell 1000 Value ETF 41.3 19 -1 6.8 +0.8
RBUS Nationwide Risk-Based U.S. Equity ETF 41.2 30 -12 4.6 -1.5
HSPX Global X S&P 500 Covered Call ETF 41.2 65 -47 4.7 -1.4
SPY SPDR S&P 500 ETF Trust 41.1 9 9 5.2 -0.9
IVV iShares Core S&P 500 ETF 41.0 4 14 5.2 -0.8
AVUS Avantis U.S. Equity ETF 41.0 15 3 5.5 -0.6
SPLG SPDR Portfolio Large Cap ETF 41.0 3 15 5.2 -0.8
VOO VANGUARD S&P 500 ETF 40.9 3 15 5.2 -0.8
SCHX Schwab U.S. Large-Cap ETF 40.7 3 15 5.1 -0.9
FNDX Schwab Fundamental U.S. Large Co. Index ETF 40.6 25 -7 6.2 +0.2
PBUS Invesco PureBeta MSCI USA ETF 40.5 4 14 5.1 -1.0
SPTM SPDR Portfolio Total Stock Market ETF 40.5 3 15 5.3 -0.7
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 40.4 20 -2 5.1 -0.9
VONE Vanguard Russell 1000 ETF 40.4 8 10 5.0 -1.0
PRF Invesco FTSE RAFI US 1000 ETF 40.4 39 -21 6.6 +0.6
IWB iShares Russell 1000 ETF 40.4 15 3 4.9 -1.1
SCHK Schwab 1000 Index ETF 40.3 5 13 5.1 -1.0
EPS WisdomTree U.S. Earnings 500 Fund 40.3 8 10 6.3 +0.3
BBUS JP Morgan Betabuilders U.S. Equity ETF 40.2 2 16 5.1 -0.9
IYY iShares Dow Jones U.S. ETF 40.1 20 -2 5.0 -1.1
VV Vanguard Large-Cap Index Fund 40.1 4 14 5.0 -1.0
SPXE ProShares S&P 500 Ex-Energy ETF 40.0 27 -9 5.1 -1.0
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 39.9 7 11 5.0 -1.0
IUS Invesco Strategic US ETF 39.8 19 -1 6.3 +0.3
FLQL Franklin LibertyQ U.S. Equity ETF 39.7 15 3 6.0 -0.1
SPXN ProShares S&P 500 Ex-Financials ETF 39.6 27 -9 4.8 -1.3
JDIV JPMorgan U.S. Dividend ETF 39.5 12 6 7.7 +1.7
SPYV SPDR Portfolio S&P 500 Value ETF 39.4 4 14 7.3 +1.2
FNDB Schwab Fundamental U.S. Broad Market Index ETF 39.4 25 -7 6.2 +0.2
IVE iShares S&P 500 Value ETF 39.4 18 0 7.1 +1.1
VOOV Vanguard S&P 500 Value ETF 39.4 15 3 7.1 +1.1
JQUA JPMorgan U.S. Quality Factor ETF 39.4 12 6 5.2 -0.9
SCHB Schwab U.S. Broad Market ETF 39.3 3 15 5.0 -1.0
IUSV iShares Core S&P U.S. Value ETF 39.3 4 14 7.3 +1.3
IWV iShares Russell 3000 ETF 39.2 20 -2 4.8 -1.2
SPXT ProShares S&P 500 Ex-Technology ETF 39.2 27 -9 5.4 -0.6
ITOT iShares Core S&P Total U.S. Stock Market ETF 39.2 3 15 5.0 -1.1
VTHR Vanguard Russell 3000 Index Fund 39.2 10 8 4.9 -1.2
ONEV SPDR Russell 1000 Low Volatility Focus ETF 39.0 20 -2 6.8 +0.7
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 38.9 29 -11 5.8 -0.2
VTI Vanguard Total Stock Market Index Fund 38.7 3 15 4.9 -1.1
ESGU iShares MSCI USA ESG Optimized ETF 38.5 15 3 4.9 -1.1
CATH Global X S&P 500 Catholic Values Custom ETF 38.2 29 -11 5.0 -1.0
AFLG First Trust Active Factor Large Cap ETF 38.0 55 -37 5.3 -0.7
VLU SPDR S&P 1500 Value Tilt ETF 37.9 12 6 7.2 +1.2
RWL Invesco S&P 500 Revenue ETF 37.6 39 -21 7.0 +1.0
DTD WisdomTree U.S.Total Dividend Fund 37.4 28 -10 6.5 +0.4
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 37.2 25 -7 6.3 +0.2
SFY SoFi Select 500 ETF 37.2 0 18 5.0 -1.0
DIVB iShares U.S. Dividend & Buyback ETF 36.8 25 -7 6.4 +0.4
DLN WisdomTree U.S. LargeCap Dividend Fund 36.1 28 -10 6.3 +0.2
MGC Vanguard Mega Cap Index Fund 36.1 7 11 5.0 -1.0
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 35.9 20 -2 4.7 -1.3
USMV iShares Edge MSCI Min Vol USA ETF 35.8 15 3 5.4 -0.7
SPXV ProShares S&P 500 Ex-Health Care ETF 35.6 27 -9 4.8 -1.3
EXT WisdomTree U.S. Total Earnings Fund 35.3 28 -10 5.0 -1.0
SCHV Schwab U.S. Large-Cap Value ETF 34.8 4 14 7.1 +1.0
JVAL JPMorgan U.S. Value Factor ETF 34.6 12 6 8.5 +2.4
DGRO iShares Core Dividend Growth ETF 34.5 8 10 6.5 +0.5
ESGV Vanguard ESG U.S. Stock ETF 34.4 12 6 4.9 -1.1
IWS iShares Russell Mid-Cap Value ETF 34.4 24 -6 7.0 +0.9
JMOM JPMorgan U.S. Momentum Factor ETF 34.4 12 6 3.5 -2.5
MMTM SPDR S&P 1500 Momentum Tilt ETF 34.1 12 6 4.4 -1.6
IWL iShares Russell Top 200 ETF 33.9 15 3 4.8 -1.3
IQSU IQ Candriam ESG US Equity ETF 33.8 9 9 4.9 -1.2
BKLC BNY Mellon US Large Cap Core Equity ETF 33.8 0 18 4.9 -1.1
VTV Vanguard Value Index Fund 33.8 4 14 7.3 +1.2
RVRS Reverse Cap Weighted U.S. Large Cap ETF 33.7 29 -11 7.8 +1.8
KRMA Global X Conscious Companies ETF 33.7 43 -25 5.0 -1.0
IWR iShares Russell Midcap ETF 33.7 19 -1 5.5 -0.6
TOK iShares MSCI Kokusai ETF 33.5 25 -7 5.4 -0.6
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 33.4 20 -2 7.4 +1.3
KOKU Xtrackers MSCI Kokusai Equity ETF 33.4 9 9 5.5 -0.5
USDY Pacific Global US Equity Income ETF 33.2 29 -11 7.1 +1.1
QWLD SPDR MSCI World StrategicFactors ETF 33.1 30 -12 6.0 -0.0
SNPE Xtrackers S&P 500 ESG ETF 33.0 11 7 4.9 -1.1
SUSL iShares ESG MSCI USA Leaders ETF 32.4 10 8 5.2 -0.9

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:

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 2.4 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
1.55 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.