JPMorgan U.S. Quality Factor ETF
ALTAR
Score™
5.9% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
17.6x P/Sales
ratio
2.8x
P/BV
ratio
4.4x Div.
yield
2.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
JQUA tracks an index of US large-cap equities that are selected and weighted by three quality factors: profitability, quality of earnings, and solvency. lf

FUND BASICS
Category US Equities
Fund Sponsor JPMorgan
Website am.jpmorgan.com
Inception date Nov 08, 2017
Assets (mns) $133
Currency USD
Expense ratio 12 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Proprietary
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 233
Wgt avg mkt cap (mns) $208,485
Large cap (>$10bn) 91.8%
Mid cap ($2-10bn) 8.0%
Small cap (<$2bn) 0.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MICROSOFT CORP 2.2 %
APPLE INC 2.2 %
VISA INC-CLASS A SHARES 2.1 %
ALPHABET INC. CLASS A 2.1 %
JOHNSON & JOHNSON 2.1 %
MASTERCARD INC-CLASS A 2.0 %
FACEBOOK 1.9 %
HOME DEPOT INC 1.8 %
INTEL CORP 1.6 %
VERIZON COMMUNICATIONS INC 1.6 %
Total 19.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.0 %
IRELAND 1.2 %
BRITAIN 0.8 %
SWITZERLAND 0.4 %
BERMUDA 0.3 %
CANADA 0.1 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
0.2% 20.0% -- -- 11.8%

Market Correlations
versus... Beta R-squared
S&P500 0.86 97%
MSCI EAFE 0.83 70%
MSCI Emg. Mkts. 0.55 52%

Technical Indicators
Recent close $29.23
30d moving avg. $32.13
Annualized volatility 12.3%
Short interest (ETF) 1.1%
Relative strength (RSI) 40

Liquidity measures
Avg. volume (thou.) 71
Turnover 1.6%
Bid/Ask (% of price) 0.09%
ADV underlying (mns) $98,276

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the JPMorgan U.S. Quality Factor ETF ETF based on the alternatives' overlap in portfolio holdings with JQUA. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: JQUA Expense: 12 bp ALTAR Score™: 5.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH JQUA
Ticker Fund
Name
Overlap1
vs JQUA
(%)
Expense
ratio
(bp)
Savings
vs JQUA
(bp)
ALTAR
Score™
(%)
ALTAR
vs JQUA
(%)
OQAL Invesco Russell 1000 Quality Factor ETF 61.4 19 -7 4.7 -1.1
FQAL Fidelity Quality Factor ETF 55.2 29 -17 5.8 -0.1
OVOL Invesco Russell 1000 Low Volatility Factor ETF 54.8 19 -7 5.3 -0.6
QUS SPDR MSCI USA StrategicFactors ETF 53.8 15 -3 6.2 +0.3
FLQL Franklin LibertyQ U.S. Equity ETF 53.4 15 -3 6.9 +1.0
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 51.1 19 -7 6.5 +0.7
DSI iShares MSCI KLD 400 Social ETF 49.3 25 -13 5.8 -0.0
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 49.3 10 2 5.9 +0.1
SUSL iShares ESG MSCI USA Leaders ETF 49.2 10 2 5.9 +0.1
OEF iShares S&P 100 ETF 48.6 20 -8 5.6 -0.2
IWL iShares Russell Top 200 ETF 48.0 15 -3 5.8 -0.1
VONG Vanguard Russell 1000 Growth Index Fund 47.8 8 4 5.0 -0.8
SPXN ProShares S&P 500 Ex-Financials ETF 47.3 27 -15 5.9 +0.0
IQSU IQ Candriam ESG US Equity ETF 47.2 9 3 5.8 -0.1
IWF iShares Russell 1000 Growth ETF 47.2 19 -7 4.9 -1.0
MGC Vanguard Mega Cap Index Fund 47.2 7 5 5.9 +0.1
RECS Columbia Research Enhanced Core ETF 47.1 15 -3 6.3 +0.5
IWY iShares Russell Top 200 Growth ETF 47.0 20 -8 4.9 -1.0
DIVB iShares U.S. Dividend & Buyback ETF 46.3 25 -13 6.9 +1.1
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 45.9 9 3 6.2 +0.4

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

Content on this tab for subscribers only

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 U.S. Quality Factor 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 25.6 %
Divided by: Fwd. P/BV 4.3 x
Less: Expense ratio 12 bp
Equals: ALTAR Score 5.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.57 CATEGORY
AVERAGE
1.56
 
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.