JPMorgan U.S. Quality Factor ETF
ALTAR
Score™
5.3% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
22.3x P/Sales
ratio
3.2x
P/BV
ratio
4.8x Div.
yield
2.1%


  • 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) $261
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 235
Wgt avg mkt cap (mns) $210,822
Large cap (>$10bn) 90.4%
Mid cap ($2-10bn) 9.2%
Small cap (<$2bn) 0.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
FACEBOOK 2.3 %
APPLE INC 2.3 %
MICROSOFT CORP 2.2 %
JOHNSON & JOHNSON 2.1 %
ALPHABET INC. CLASS A 2.1 %
VISA INC-CLASS A SHARES 2.1 %
HOME DEPOT INC 2.0 %
MASTERCARD INC-CLASS A 1.9 %
INTEL CORP 1.7 %
VERIZON COMMUNICATIONS INC 1.7 %
Total 20.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.1 %
IRELAND 1.2 %
BRITAIN 0.7 %
SWITZERLAND 0.4 %
BERMUDA 0.2 %






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.
-2.8% 13.3% -- -- 8.8%

Market Correlations
versus... Beta R-squared
S&P500 0.91 98%
MSCI EAFE 0.92 84%
MSCI Emg. Mkts. 0.68 69%

Technical Indicators
Recent close $30.33
30d moving avg. $28.52
Annualized volatility 17.1%
Short interest (ETF) 1.1%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 157
Turnover 1.8%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $116,263

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 5.3%


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
(%)
FQAL Fidelity Quality Factor ETF 56.1 29 -17 5.5 +0.2
QUS SPDR MSCI USA StrategicFactors ETF 54.6 15 -3 5.9 +0.6
FLQL Franklin LibertyQ U.S. Equity ETF 54.1 15 -3 6.4 +1.1
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 50.6 49 -37 4.2 -1.1
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 50.1 19 -7 5.8 +0.5
DSI iShares MSCI KLD 400 Social ETF 50.1 25 -13 5.3 +0.0
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 49.3 10 2 5.5 +0.2
SUSL iShares ESG MSCI USA Leaders ETF 49.3 10 2 5.5 +0.2
RECS Columbia Research Enhanced Core ETF 48.9 15 -3 5.8 +0.5
IWL iShares Russell Top 200 ETF 48.5 15 -3 5.2 -0.1
PBP Invesco S&P 500 BuyWrite ETF 48.4 49 -37 5.3 -0.0
OEF iShares S&P 100 ETF 48.1 20 -8 5.0 -0.3
SPXN ProShares S&P 500 Ex-Financials ETF 47.9 27 -15 5.2 -0.1
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 47.8 29 -17 4.4 -0.9
DYNF BlackRock U.S. Equity Factor Rotation ETF 47.8 30 -18 6.9 +1.6
HSPX Global X S&P 500 Covered Call ETF 47.8 65 -53 5.1 -0.2
MGC Vanguard Mega Cap Index Fund 47.4 7 5 5.4 +0.1
EPS WisdomTree U.S. Earnings 500 Fund 47.4 8 4 6.6 +1.3
ESGU iShares MSCI USA ESG Optimized ETF 47.2 15 -3 5.3 -0.0
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 47.0 9 3 5.7 +0.4
IWY iShares Russell Top 200 Growth ETF 47.0 20 -8 4.3 -1.0
IQSU IQ Candriam ESG US Equity ETF 46.5 9 3 5.3 +0.0
DIVB iShares U.S. Dividend & Buyback ETF 46.4 25 -13 6.7 +1.4
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 46.3 20 -8 5.2 -0.1
SPLG SPDR Portfolio Large Cap ETF 46.3 3 9 5.6 +0.3
VONG Vanguard Russell 1000 Growth Index Fund 46.2 8 4 4.5 -0.8
SPY SPDR S&P 500 ETF Trust 46.2 9 3 5.5 +0.3
IVV iShares Core S&P 500 ETF 46.2 4 8 5.6 +0.3
IWF iShares Russell 1000 Growth ETF 46.2 19 -7 4.4 -0.9
SNPE Xtrackers S&P 500 ESG ETF 46.0 11 1 5.3 -0.0
VOO VANGUARD S&P 500 ETF 46.0 3 9 5.6 +0.3
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 45.7 20 -8 5.6 +0.3
SPXE ProShares S&P 500 Ex-Energy ETF 45.4 27 -15 5.5 +0.2
VV Vanguard Large-Cap Index Fund 45.2 4 8 5.5 +0.2
CATH Global X S&P 500 Catholic Values Custom ETF 45.1 29 -17 5.4 +0.1
VOOG Vanguard S&P 500 Growth ETF 45.1 10 2 4.5 -0.8
SPYG SPDR Portfolio S&P 500 Growth ETF 45.1 4 8 4.5 -0.8
PBUS Invesco PureBeta MSCI USA ETF 45.0 4 8 5.6 +0.3
IVW iShares S&P 500 Growth ETF 45.0 18 -6 4.4 -0.9
EXT WisdomTree U.S. Total Earnings Fund 45.0 28 -16 5.9 +0.6
IUS Invesco Strategic US ETF 44.7 19 -7 6.4 +1.1
XOUT GraniteShares XOUT U.S. Large Cap ETF 44.7 60 -48 4.6 -0.7
BBUS JP Morgan Betabuilders U.S. Equity ETF 44.6 2 10 5.6 +0.3
SCHX Schwab U.S. Large-Cap ETF 44.4 3 9 5.5 +0.2
DLN WisdomTree U.S. LargeCap Dividend Fund 44.3 28 -16 6.5 +1.2
SPXV ProShares S&P 500 Ex-Health Care ETF 44.3 27 -15 5.3 -0.0
IUSG iShares Core S&P US Growth ETF 44.2 4 8 4.5 -0.8
DGRO iShares Core Dividend Growth ETF 44.2 8 4 6.6 +1.3
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 44.1 29 -17 6.3 +1.0
AFLG First Trust Active Factor Large Cap ETF 44.0 55 -43 6.0 +0.7
FDLO Fidelity Low Volatility Factor ETF 43.9 29 -17 5.3 0.0
SPTM SPDR Portfolio Total Stock Market ETF 43.8 3 9 5.7 +0.4
IWB iShares Russell 1000 ETF 43.8 15 -3 5.4 +0.1
KRMA Global X Conscious Companies ETF 43.7 43 -31 5.4 +0.1
QUAL iShares MSCI Usa Quality Factor ETF 43.6 15 -3 5.5 +0.2
EQWL Invesco Russell Top 200 Equal Weight ETF 43.5 25 -13 6.2 +0.9
VONE Vanguard Russell 1000 ETF 43.5 8 4 5.5 +0.2
JMOM JPMorgan U.S. Momentum Factor ETF 43.5 12 0 4.0 -1.3
DTD WisdomTree U.S.Total Dividend Fund 43.5 28 -16 6.7 +1.4
SCHK Schwab 1000 Index ETF 43.3 5 7 5.5 +0.2
IYY iShares Dow Jones U.S. ETF 43.0 20 -8 5.4 +0.1
JHML John Hancock Multifactor Large Cap ETF 42.9 34 -22 5.7 +0.4
QLC FlexShares US Quality Large Cap Index Fund 42.3 32 -20 5.6 +0.3
MMTM SPDR S&P 1500 Momentum Tilt ETF 41.8 12 0 5.1 -0.2
OUSA O'Shares FTSE US Quality Dividend ETF 41.8 48 -36 5.7 +0.5
IWV iShares Russell 3000 ETF 41.6 20 -8 5.3 -0.0
NACP Impact Shares NAACP Minority Empowerment ETF 41.6 75 -63 4.7 -0.6
VTI Vanguard Total Stock Market Index Fund 41.6 3 9 5.4 +0.1
SCHB Schwab U.S. Broad Market ETF 41.5 3 9 5.5 +0.2
ITOT iShares Core S&P Total U.S. Stock Market ETF 41.4 3 9 5.4 +0.1
VTHR Vanguard Russell 3000 Index Fund 41.3 10 2 5.4 +0.1
XLG Invesco S&P 500 Top 50 ETF 41.2 20 -8 4.7 -0.6
ESGV Vanguard ESG U.S. Stock ETF 41.2 12 0 5.4 +0.1
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 41.1 15 -3 6.5 +1.2
AVUS Avantis U.S. Equity ETF 40.8 15 -3 6.0 +0.7
FNDX Schwab Fundamental U.S. Large Co. Index ETF 40.7 25 -13 6.8 +1.5
SPXT ProShares S&P 500 Ex-Technology ETF 40.5 27 -15 5.8 +0.5
SCHV Schwab U.S. Large-Cap Value ETF 40.3 4 8 7.3 +2.0
QWLD SPDR MSCI World StrategicFactors ETF 40.1 30 -18 6.2 +0.9
VUG Vanguard Growth Index Fund 39.5 4 8 4.3 -1.0
WOMN Impact Shares YWCA Women's Empowerment ETF 39.4 75 -63 4.7 -0.6
PFM Invesco Dividend Achievers ETF 39.3 54 -42 5.4 +0.1
SFY SoFi Select 500 ETF 39.3 0 12 5.4 +0.1
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 39.3 75 -63 3.8 -1.5
FNDB Schwab Fundamental U.S. Broad Market Index ETF 39.1 25 -13 6.8 +1.5
VEGN US Vegan Climate ETF 39.0 60 -48 5.3 +0.1
MGK Vanguard Mega Cap Growth ETF 38.6 7 5 4.4 -0.9
ESG FlexShares STOXX US ESG Impact Index Fund 38.6 32 -20 5.3 -0.0
RAFE PIMCO RAFI ESG U.S. ETF 38.4 29 -17 7.9 +2.6
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 38.4 12 0 4.9 -0.4
FLLV Franklin Liberty U.S. Low Volatility ETF 38.4 29 -17 5.7 +0.4
USMV iShares Edge MSCI Min Vol USA ETF 38.1 15 -3 5.7 +0.5
PRF Invesco FTSE RAFI US 1000 ETF 37.6 39 -27 7.0 +1.8
ROUS Hartford Multifactor US Equity ETF 37.5 19 -7 7.4 +2.1
JPUS JPMorgan Diversified Return U.S. Equity ETF 37.2 19 -7 6.4 +1.1
PSET Principal Price Setters Index ETF 36.9 29 -17 4.7 -0.6
RFFC RiverFront Dynamic US Flex-Cap ETF 36.8 52 -40 5.7 +0.4
SPHQ Invesco S&P 500 Quality ETF 36.8 15 -3 5.2 -0.1
TMFC Motley Fool 100 Index ETF 36.7 50 -38 4.0 -1.3
USDY Pacific Global US Equity Income ETF 36.6 29 -17 8.1 +2.8

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 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 24.3 %
Divided by: Fwd. P/BV 4.5 x
Less: Expense ratio 12 bp
Equals: ALTAR Score 5.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 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.