JPMorgan U.S. Quality Factor ETF
ALTAR
Score™
5.3% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
23.3x P/Sales
ratio
3.0x
P/BV
ratio
5.4x Div.
yield
1.8%


  • 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) $398
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 248
Wgt avg mkt cap (mns) $224,405
Large cap (>$10bn) 89.9%
Mid cap ($2-10bn) 9.6%
Small cap (<$2bn) 0.3%
Developed mkts 99.9%
Emerging mkts 0.1%

TOP TEN HOLDINGS
ALPHABET INC. CLASS A 2.0 %
NVIDIA CORP 2.0 %
MICROSOFT CORP 2.0 %
FACEBOOK 2.0 %
HOME DEPOT INC 1.9 %
VISA INC-CLASS A SHARES 1.9 %
JOHNSON & JOHNSON 1.8 %
MASTERCARD INC-CLASS A 1.8 %
APPLE INC 1.6 %
VERIZON COMMUNICATIONS INC 1.5 %
Total 18.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.1 %
IRELAND 1.5 %
BRITAIN 0.6 %
SWITZERLAND 0.3 %
BERMUDA 0.2 %
PANAMA 0.2 %
CANADA 0.1 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
4.7% 12.2% -- -- 10.6%

Market Correlations
versus... Beta R-squared
S&P500 0.90 98%
MSCI EAFE 0.91 83%
MSCI Emg. Mkts. 0.64 65%

Technical Indicators
Recent close $32.77
30d moving avg. $32.87
Annualized volatility 16.6%
Short interest (ETF) 0.5%
Relative strength (RSI) 50

Liquidity measures
Avg. volume (thou.) 143
Turnover 1.2%
Bid/Ask (% of price) 0.12%
ADV underlying (mns) $136,541

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
(%)
FLQL Franklin LibertyQ U.S. Equity ETF 58.5 15 -3 6.1 +0.8
QUS SPDR MSCI USA StrategicFactors ETF 53.2 15 -3 5.8 +0.4
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 50.2 19 -7 6.0 +0.6
FQAL Fidelity Quality Factor ETF 50.2 29 -17 5.4 +0.0
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 48.1 10 2 5.2 -0.1
SUSL iShares ESG MSCI USA Leaders ETF 48.1 10 2 5.2 -0.1
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 48.1 29 -17 5.9 +0.6
DSI iShares MSCI KLD 400 Social ETF 47.7 25 -13 5.0 -0.3
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 47.7 9 3 5.4 +0.1
HSPX Global X S&P 500 Covered Call ETF 45.4 60 -48 4.8 -0.5
EPS WisdomTree U.S. Earnings 500 Fund 45.1 8 4 6.3 +1.0
FDLO Fidelity Low Volatility Factor ETF 44.9 29 -17 5.2 -0.2
SPXN ProShares S&P 500 Ex-Financials ETF 44.9 27 -15 4.8 -0.5
RECS Columbia Research Enhanced Core ETF 44.7 15 -3 5.5 +0.2
JMOM JPMorgan U.S. Momentum Factor ETF 44.6 12 0 3.3 -2.0
MGC Vanguard Mega Cap Index Fund 44.6 7 5 5.0 -0.3
ROUS Hartford Multifactor US Equity ETF 44.5 19 -7 6.4 +1.1
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 44.4 49 -37 4.0 -1.4
DYNF BlackRock U.S. Equity Factor Rotation ETF 44.3 30 -18 6.5 +1.2
IWL iShares Russell Top 200 ETF 44.3 15 -3 4.8 -0.5
PBP Invesco S&P 500 BuyWrite ETF 44.3 49 -37 4.8 -0.5
XYLG Global X S&P 500 Covered Call & Growth ETF 44.2 60 -48 4.9 -0.5
OEF iShares S&P 100 ETF 44.0 20 -8 4.7 -0.7
DIVB iShares U.S. Dividend & Buyback ETF 43.9 25 -13 6.8 +1.5
ESGU iShares MSCI USA ESG Optimized ETF 43.9 15 -3 4.9 -0.4
VOOG Vanguard S&P 500 Growth ETF 43.8 10 2 4.2 -1.1
SPY SPDR S&P 500 ETF Trust 43.7 9 3 5.2 -0.1
SPLG SPDR Portfolio Large Cap ETF 43.7 3 9 5.2 -0.1
IVV iShares Core S&P 500 ETF 43.7 3 9 5.2 -0.1
BKLC BNY Mellon US Large Cap Core Equity ETF 43.7 0 12 5.0 -0.3
IQSU IQ Candriam ESG US Equity ETF 43.6 9 3 5.0 -0.4
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 43.2 20 -8 5.2 -0.1
IWF iShares Russell 1000 Growth ETF 43.1 19 -7 3.7 -1.7
VOO VANGUARD S&P 500 ETF 43.1 3 9 5.3 -0.1
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 43.1 75 -63 3.8 -1.5
SPXE ProShares S&P 500 Ex-Energy ETF 43.0 27 -15 5.1 -0.2
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 43.0 20 -8 4.8 -0.5
SPYG SPDR Portfolio S&P 500 Growth ETF 42.9 4 8 4.3 -1.1
IVW iShares S&P 500 Growth ETF 42.9 18 -6 16.9 +11.6
EFIV SPDR S&P 500 ESG ETF 42.9 10 2 5.0 -0.4
ESGV Vanguard ESG U.S. Stock ETF 42.9 12 0 4.9 -0.4
SNPE Xtrackers S&P 500 ESG ETF 42.8 10 2 4.9 -0.4
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 42.8 7 5 5.1 -0.3
XOUT GraniteShares XOUT U.S. Large Cap ETF 42.7 60 -48 4.0 -1.3
AFLG First Trust Active Factor Large Cap ETF 42.6 55 -43 5.3 -0.0
EXT WisdomTree U.S. Total Earnings Fund 42.5 28 -16 5.4 +0.1
PBUS Invesco PureBeta MSCI USA ETF 42.5 4 8 5.1 -0.3
VONG Vanguard Russell 1000 Growth Index Fund 42.4 8 4 3.8 -1.6
KRMA Global X Conscious Companies ETF 42.3 43 -31 5.1 -0.2
JHML John Hancock Multifactor Large Cap ETF 42.3 29 -17 5.4 +0.0
BBUS JP Morgan Betabuilders U.S. Equity ETF 42.3 2 10 5.1 -0.2
DLN WisdomTree U.S. LargeCap Dividend Fund 42.2 28 -16 6.4 +1.1
ESG FlexShares STOXX US ESG Impact Index Fund 42.2 32 -20 5.0 -0.3
SPXV ProShares S&P 500 Ex-Health Care ETF 42.1 27 -15 4.9 -0.5
IUSG iShares Core S&P US Growth ETF 42.1 4 8 4.3 -1.1
VV Vanguard Large-Cap Index Fund 41.9 4 8 5.1 -0.3
SCHX Schwab U.S. Large-Cap ETF 41.9 3 9 5.0 -0.3
FLRG Fidelity U.S. Multifactor ETF 41.8 29 -17 6.3 +1.0
IWY iShares Russell Top 200 Growth ETF 41.7 20 -8 3.8 -1.5
USXF iShares ESG Advanced MSCI USA ETF 41.7 10 2 4.8 -0.5
SPTM SPDR Portfolio Total Stock Market ETF 41.6 3 9 5.4 +0.0
IWB iShares Russell 1000 ETF 41.5 15 -3 4.9 -0.4
DGRO iShares Core Dividend Growth ETF 41.4 8 4 6.6 +1.3
EQWL Invesco Russell Top 200 Equal Weight ETF 41.4 25 -13 6.2 +0.9
CATH Global X S&P 500 Catholic Values Custom ETF 41.3 29 -17 5.0 -0.3
SCHK Schwab 1000 Index ETF 41.2 5 7 5.1 -0.3
SCHV Schwab U.S. Large-Cap Value ETF 41.2 4 8 6.8 +1.4
DTD WisdomTree U.S.Total Dividend Fund 41.1 28 -16 6.6 +1.3
IYY iShares Dow Jones U.S. ETF 41.0 20 -8 4.9 -0.4
QUAL iShares MSCI Usa Quality Factor ETF 41.0 15 -3 5.3 -0.1
QLC FlexShares US Quality Large Cap Index Fund 40.9 32 -20 5.1 -0.2
VONE Vanguard Russell 1000 ETF 40.7 8 4 5.0 -0.3
USMV iShares Edge MSCI Min Vol USA ETF 40.3 15 -3 5.5 +0.2
IUS Invesco Strategic US ETF 40.1 19 -7 6.4 +1.1
MMTM SPDR S&P 1500 Momentum Tilt ETF 40.0 12 0 4.6 -0.8
VTHR Vanguard Russell 3000 Index Fund 39.9 10 2 4.9 -0.5
XLG Invesco S&P 500 Top 50 ETF 39.8 20 -8 4.4 -0.9
IWV iShares Russell 3000 ETF 39.5 20 -8 4.8 -0.5
SCHB Schwab U.S. Broad Market ETF 39.3 3 9 5.0 -0.4
PFM Invesco Dividend Achievers ETF 39.3 53 -41 5.3 -0.0
ITOT iShares Core S&P Total U.S. Stock Market ETF 39.2 3 9 4.9 -0.4
AVUS Avantis U.S. Equity ETF 39.1 15 -3 5.5 +0.2
JPUS JPMorgan Diversified Return U.S. Equity ETF 38.6 18 -6 6.1 +0.8
WOMN Impact Shares YWCA Women's Empowerment ETF 38.4 75 -63 4.2 -1.1
QWLD SPDR MSCI World StrategicFactors ETF 38.4 30 -18 6.1 +0.7
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 38.4 15 -3 6.1 +0.8
FNDX Schwab Fundamental U.S. Large Co. Index ETF 38.2 25 -13 6.6 +1.3
VTI Vanguard Total Stock Market Index Fund 38.2 3 9 4.9 -0.4
SPXT ProShares S&P 500 Ex-Technology ETF 38.1 27 -15 5.5 +0.1
VEGN US Vegan Climate ETF 38.1 60 -48 5.0 -0.3
SUSA iShares MSCI USA ESG Select ETF 38.0 25 -13 4.7 -0.7
SFY SoFi Select 500 ETF 37.9 0 12 5.0 -0.3
NACP Impact Shares NAACP Minority Empowerment ETF 37.9 75 -63 4.7 -0.6
RAFE PIMCO RAFI ESG U.S. ETF 37.7 29 -17 7.6 +2.3
VUG Vanguard Growth Index Fund 37.7 4 8 3.8 -1.5
OUSA O'Shares FTSE US Quality Dividend ETF 37.6 48 -36 5.8 +0.5
MGK Vanguard Mega Cap Growth ETF 37.1 7 5 4.0 -1.3
DGRW WisdomTree U.S. Quality Dividend Growth Fund 36.5 28 -16 6.4 +1.1
FNDB Schwab Fundamental U.S. Broad Market Index ETF 36.4 25 -13 6.7 +1.4
FLLV Franklin Liberty U.S. Low Volatility ETF 36.3 29 -17 5.4 +0.1

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 25.6 %
Divided by: Fwd. P/BV 4.7 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
1.52 CATEGORY
AVERAGE
1.51
 
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.