JPMorgan U.S. Quality Factor ETF
ALTAR
Score™
5.1% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
24.5x P/Sales
ratio
3.3x
P/BV
ratio
5.7x Div.
yield
1.6%


  • 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) $441
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 250
Wgt avg mkt cap (mns) $237,491
Large cap (>$10bn) 90.3%
Mid cap ($2-10bn) 9.5%
Small cap (<$2bn) 0.1%
Developed mkts 99.8%
Emerging mkts 0.2%

TOP TEN HOLDINGS
ALPHABET INC. CLASS A 2.0 %
MICROSOFT CORP 1.9 %
JOHNSON & JOHNSON 1.9 %
NVIDIA CORP 1.8 %
APPLE INC 1.8 %
VISA INC-CLASS A SHARES 1.8 %
PROCTER & GAMBLE CO/THE 1.8 %
FACEBOOK 1.8 %
HOME DEPOT INC 1.7 %
MASTERCARD INC-CLASS A 1.6 %
Total 18.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.1 %
IRELAND 1.5 %
BRITAIN 0.6 %
SWITZERLAND 0.4 %
PANAMA 0.2 %
BERMUDA 0.2 %
CANADA 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.
16.5% 16.5% -- -- 13.6%

Market Correlations
versus... Beta R-squared
S&P500 0.91 98%
MSCI EAFE 0.84 83%
MSCI Emg. Mkts. 0.66 64%

Technical Indicators
Recent close $36.43
30d moving avg. $35.90
Annualized volatility 17.3%
Short interest (ETF) 0.1%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 43
Turnover 0.4%
Bid/Ask (% of price) 0.08%
ADV underlying (mns) $128,002

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 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™: 5.1%


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
(%)
FLQL Franklin LibertyQ U.S. Equity ETF 56.6 15 -3 5.9 +0.9
QUS SPDR MSCI USA StrategicFactors ETF 52.2 15 -3 5.3 +0.2
ESGV Vanguard ESG U.S. Stock ETF 51.9 12 0 4.5 -0.6
FQAL Fidelity Quality Factor ETF 49.7 29 -17 5.0 -0.1
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 48.2 19 -7 5.3 +0.3
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 46.9 10 2 4.8 -0.2
SUSL iShares ESG MSCI USA Leaders ETF 46.9 10 2 4.8 -0.2
EPS WisdomTree U.S. Earnings 500 Fund 46.1 8 4 5.9 +0.9
JCTR JPMorgan Carbon Transition U.S. Equity ETF 46.0 15 -3 4.7 -0.4
DSI iShares MSCI KLD 400 Social ETF 45.9 25 -13 4.6 -0.5
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 45.9 9 3 4.8 -0.3
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 44.1 30 -18 5.1 +0.0
ROUS Hartford Multifactor US Equity ETF 43.5 19 -7 5.8 +0.8
QUAL iShares MSCI Usa Quality Factor ETF 43.5 15 -3 5.0 -0.1
KRMA Global X Conscious Companies ETF 43.4 43 -31 4.8 -0.2
MGC Vanguard Mega Cap Index Fund 43.4 7 5 4.6 -0.5
DIVB iShares U.S. Dividend & Buyback ETF 43.2 25 -13 5.9 +0.9
SPXN ProShares S&P 500 Ex-Financials ETF 42.9 27 -15 4.3 -0.7
RECS Columbia Research Enhanced Core ETF 42.9 15 -3 5.1 +0.0
PBP Invesco S&P 500 BuyWrite ETF 42.8 49 -37 4.3 -0.8
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 42.7 20 -8 4.6 -0.5
FDLO Fidelity Low Volatility Factor ETF 42.6 29 -17 4.9 -0.1
IWL iShares Russell Top 200 ETF 42.6 15 -3 4.4 -0.7
ESGU iShares MSCI USA ESG Optimized ETF 42.5 15 -3 4.4 -0.7
XYLG Global X S&P 500 Covered Call & Growth ETF 42.2 60 -48 4.4 -0.7
RESP WisdomTree US ESG Fund of Benef Interest 42.2 28 -16 5.0 -0.0
BKLC BNY Mellon US Large Cap Core Equity ETF 42.2 0 12 4.4 -0.6
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 42.2 49 -37 3.4 -1.7
IQSU IQ Candriam ESG US Equity ETF 42.2 9 3 4.5 -0.6
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 42.2 20 -8 4.8 -0.3
QLC FlexShares US Quality Large Cap Index Fund 42.0 32 -20 4.4 -0.6
DYNF BlackRock U.S. Equity Factor Rotation ETF 42.0 30 -18 5.3 +0.2
SPY SPDR S&P 500 ETF Trust 41.7 9 3 4.7 -0.4
IVV iShares Core S&P 500 ETF 41.7 3 9 4.7 -0.3
SPLG SPDR Portfolio Large Cap ETF 41.6 3 9 4.7 -0.3
DLN WisdomTree U.S. LargeCap Dividend Fund 41.5 28 -16 6.1 +1.1
FLRG Fidelity U.S. Multifactor ETF 41.4 29 -17 5.8 +0.8
OEF iShares S&P 100 ETF 41.3 20 -8 4.2 -0.9
EFIV SPDR S&P 500 ESG ETF 41.3 10 2 4.6 -0.5
SPXE ProShares S&P 500 Ex-Energy ETF 41.3 27 -15 4.6 -0.5
SNPE Xtrackers S&P 500 ESG ETF 41.3 10 2 4.6 -0.5
XOUT GraniteShares XOUT U.S. Large Cap ETF 41.3 60 -48 3.6 -1.5
VOO VANGUARD S&P 500 ETF 41.0 3 9 4.8 -0.3
JHML John Hancock Multifactor Large Cap ETF 41.0 29 -17 4.9 -0.2
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 41.0 7 5 4.5 -0.5
DTD WisdomTree U.S.Total Dividend Fund 40.9 28 -16 6.2 +1.2
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 40.9 15 -3 0.0 -5.1
AFLG First Trust Active Factor Large Cap ETF 40.9 55 -43 4.7 -0.4
JMOM JPMorgan U.S. Momentum Factor ETF 40.9 12 0 3.0 -2.1
IWF iShares Russell 1000 Growth ETF 40.8 19 -7 3.4 -1.7
OUSA O'Shares FTSE US Quality Dividend ETF 40.8 48 -36 5.5 +0.4
PBUS Invesco PureBeta MSCI USA ETF 40.8 4 8 4.6 -0.5
BBUS JP Morgan Betabuilders U.S. Equity ETF 40.6 2 10 4.6 -0.4
VV Vanguard Large-Cap Index Fund 40.6 4 8 4.6 -0.5
XVV iShares ESG Screened S&P 500 ETF 40.5 8 4 4.9 -0.2
DGRO iShares Core Dividend Growth ETF 40.5 8 4 6.0 +1.0
SCHV Schwab U.S. Large-Cap Value ETF 40.4 4 8 6.1 +1.0
CATH Global X S&P 500 Catholic Values Custom ETF 40.3 29 -17 4.6 -0.5
SCHX Schwab U.S. Large-Cap ETF 40.2 3 9 4.6 -0.5
EQWL Invesco Russell Top 200 Equal Weight ETF 40.0 25 -13 5.6 +0.6
ESG FlexShares STOXX US ESG Impact Index Fund 39.9 32 -20 4.5 -0.6
IWB iShares Russell 1000 ETF 39.7 15 -3 4.5 -0.6
SUSA iShares MSCI USA ESG Select ETF 39.7 25 -13 4.2 -0.8
VOOG Vanguard S&P 500 Growth ETF 39.7 10 2 3.9 -1.2
SCHK Schwab 1000 Index ETF 39.6 5 7 4.6 -0.5
SPTM SPDR Portfolio Total Stock Market ETF 39.6 3 9 4.8 -0.3
SPXV ProShares S&P 500 Ex-Health Care ETF 39.6 27 -15 4.3 -0.8
VONG Vanguard Russell 1000 Growth Index Fund 39.5 8 4 3.5 -1.5
USXF iShares ESG Advanced MSCI USA ETF 39.5 10 2 4.6 -0.5
VOOV Vanguard S&P 500 Value ETF 39.4 10 2 6.6 +1.6
DGRW WisdomTree U.S. Quality Dividend Growth Fund 39.3 28 -16 6.0 +1.0
IYY iShares Dow Jones U.S. ETF 39.3 20 -8 4.4 -0.6
IWY iShares Russell Top 200 Growth ETF 39.2 20 -8 3.5 -1.5
NACP Impact Shares NAACP Minority Empowerment ETF 38.7 49 -37 4.7 -0.4
VTHR Vanguard Russell 3000 Index Fund 38.7 10 2 4.4 -0.7
JPUS JPMorgan Diversified Return U.S. Equity ETF 38.4 18 -6 5.6 +0.6
WOMN Impact Shares YWCA Women's Empowerment ETF 38.3 75 -63 3.5 -1.5
USMV iShares Edge MSCI Min Vol USA ETF 38.2 15 -3 5.3 +0.3
STLC iShares Factors US Blend Style ETF 38.1 25 -13 4.8 -0.3
SPYG SPDR Portfolio S&P 500 Growth ETF 38.0 4 8 3.6 -1.4
IVW iShares S&P 500 Growth ETF 38.0 18 -6 3.5 -1.6
IUS Invesco Strategic US ETF 37.9 19 -7 5.5 +0.4
XLG Invesco S&P 500 Top 50 ETF 37.8 20 -8 4.0 -1.0
DFAU Dimensional US Core Equity Market ETF 37.5 12 0 4.7 -0.4
PFM Invesco Dividend Achievers ETF 37.5 53 -41 5.0 -0.0
IWV iShares Russell 3000 ETF 37.5 20 -8 4.3 -0.8
IUSG iShares Core S&P US Growth ETF 37.4 4 8 3.6 -1.4
SCHB Schwab U.S. Broad Market ETF 37.3 3 9 4.5 -0.6
ITOT iShares Core S&P Total U.S. Stock Market ETF 37.1 3 9 4.4 -0.7
SPHQ Invesco S&P 500 Quality ETF 37.1 15 -3 4.4 -0.7
SFY SoFi Select 500 ETF 37.0 0 12 4.6 -0.5
VONE Vanguard Russell 1000 ETF 36.8 8 4 4.6 -0.5
QWLD SPDR MSCI World StrategicFactors ETF 36.7 30 -18 5.4 +0.3
VUG Vanguard Growth Index Fund 36.5 4 8 3.5 -1.6
VTI Vanguard Total Stock Market Index Fund 36.4 3 9 4.4 -0.6
FLLV Franklin Liberty U.S. Low Volatility ETF 36.4 29 -17 4.9 -0.1
VEGN US Vegan Climate ETF 36.3 60 -48 4.0 -1.1
AVUS Avantis U.S. Equity ETF 36.2 15 -3 4.8 -0.2

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 25.3 %
Divided by: Fwd. P/BV 4.9 x
Less: Expense ratio 12 bp
Equals: ALTAR Score 5.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.51 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.