JPMorgan U.S. Value Factor ETF
ALTAR
Score™
11.3% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
10.3x P/Sales
ratio
0.9x
P/BV
ratio
1.3x Div.
yield
4.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
JVAL tracks an index of large-cap US equities that are selected and weighted by four relative valuation factors: book yield, earnings yield, dividend yield and cash flow yield. lf

FUND BASICS
Category US Equities
Fund Sponsor JPMorgan
Website am.jpmorgan.com
Inception date Nov 08, 2017
Assets (mns) $52
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 312
Wgt avg mkt cap (mns) $114,428
Large cap (>$10bn) 69.8%
Mid cap ($2-10bn) 26.3%
Small cap (<$2bn) 3.9%
Developed mkts 99.9%
Emerging mkts 0.2%

TOP TEN HOLDINGS
MICROSOFT CORP 2.3 %
APPLE INC 2.3 %
INTEL CORP 2.1 %
JOHNSON & JOHNSON 1.9 %
UNITEDHEALTH GROUP INC 1.9 %
PFIZER INC 1.7 %
CISCO SYSTEMS INC 1.6 %
COMCAST CORP-CL A 1.5 %
MERCK & CO. INC. 1.5 %
WELLS FARGO & CO 1.3 %
Total 18.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.4 %
IRELAND 3.1 %
BRITAIN 0.9 %
PUERTO RICO 0.2 %
BERMUDA 0.2 %
PANAMA 0.1 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 29)
Year-to-date 1 year 5 years 10 years Since Incep.
-13.3% -0.7% -- -- 1.3%

Market Correlations
versus... Beta R-squared
S&P500 1.08 94%
MSCI EAFE 1.10 80%
MSCI Emg. Mkts. 0.81 62%

Technical Indicators
Recent close $20.62
30d moving avg. $23.73
Annualized volatility 16.9%
Short interest (ETF) 1.3%
Relative strength (RSI) 33

Liquidity measures
Avg. volume (thou.) 26
Turnover 1.0%
Bid/Ask (% of price) 0.13%
ADV underlying (mns) $119,540

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the JPMorgan U.S. Value Factor ETF ETF based on the alternatives' overlap in portfolio holdings with JVAL. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: JVAL Expense: 12 bp ALTAR Score™: 11.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH JVAL
Ticker Fund
Name
Overlap1
vs JVAL
(%)
Expense
ratio
(bp)
Savings
vs JVAL
(bp)
ALTAR
Score™
(%)
ALTAR
vs JVAL
(%)
USDY Pacific Global US Equity Income ETF 48.3 29 -17 10.0 -1.3
FNDX Schwab Fundamental U.S. Large Co. Index ETF 45.5 25 -13 8.0 -3.3
DIVB iShares U.S. Dividend & Buyback ETF 45.1 25 -13 8.4 -2.9
VTV Vanguard Value Index Fund 45.1 4 8 8.8 -2.5
SCHV Schwab U.S. Large-Cap Value ETF 44.7 4 8 8.6 -2.7
PRF Invesco FTSE RAFI US 1000 ETF 44.0 39 -27 8.8 -2.5
FNDB Schwab Fundamental U.S. Broad Market Index ETF 43.5 25 -13 8.1 -3.2
DTD WisdomTree U.S.Total Dividend Fund 43.1 28 -16 8.2 -3.1
IUSV iShares Core S&P U.S. Value ETF 43.0 4 8 9.0 -2.3
IVE iShares S&P 500 Value ETF 42.9 18 -6 8.7 -2.6
VOOV Vanguard S&P 500 Value ETF 42.9 15 -3 8.8 -2.5
SPYV SPDR Portfolio S&P 500 Value ETF 42.8 4 8 8.8 -2.5
DLN WisdomTree U.S. LargeCap Dividend Fund 42.6 28 -16 7.7 -3.6
FDRR Fidelity Dividend ETF for Rising Rates 42.5 29 -17 9.3 -2.1
IUS Invesco Strategic US ETF 42.3 19 -7 7.6 -3.7
MGV Vanguard Mega Cap Value ETF 42.3 7 5 8.5 -2.8
VLU SPDR S&P 1500 Value Tilt ETF 42.3 12 0 9.2 -2.1
EPS WisdomTree U.S. Earnings 500 Fund 42.0 8 4 8.1 -3.2
FVAL Fidelity Value Factor ETF 41.7 29 -17 10.5 -0.8
DGRO iShares Core Dividend Growth ETF 41.7 8 4 8.1 -3.3
VONV Vanguard Russell 1000 Value Index Fund 40.2 8 4 8.9 -2.4
VYM Vanguard High Dividend Yield Index ETF 40.0 6 6 8.6 -2.7
IWD iShares Russell 1000 Value ETF 39.8 19 -7 8.7 -2.6
ROUS Hartford Multifactor US Equity ETF 38.7 19 -7 8.7 -2.6
RWL Invesco S&P 500 Revenue ETF 38.6 39 -27 8.8 -2.5
RAFE PIMCO RAFI ESG U.S. ETF 38.3 29 -17 9.8 -1.6
FAB First Trust Multi Cap Value AlphaDEX Fund 38.2 71 -59 12.5 +1.2
VALQ American Century STOXX U.S. Quality Value ETF 38.0 29 -17 10.8 -0.5
RNLC Large Cap US Equity Select ETF 36.9 60 -48 7.7 -3.6
JHML John Hancock Multifactor Large Cap ETF 36.4 34 -22 7.1 -4.2
HSPX Global X S&P 500 Covered Call ETF 36.2 65 -53 6.1 -5.2
AFLG First Trust Active Factor Large Cap ETF 35.9 55 -43 7.8 -3.6
PBP Invesco S&P 500 BuyWrite ETF 35.5 49 -37 6.5 -4.8
RECS Columbia Research Enhanced Core ETF 35.4 15 -3 7.2 -4.1
QUS SPDR MSCI USA StrategicFactors ETF 35.2 15 -3 7.0 -4.3
VFVA Vanguard U.S. Value Factor ETF 35.2 13 -1 15.2 +3.9
EXT WisdomTree U.S. Total Earnings Fund 34.9 28 -16 7.3 -4.0
IWX iShares Russell Top 200 Value ETF 34.8 20 -8 8.4 -2.9
SPXN ProShares S&P 500 Ex-Financials ETF 34.6 27 -15 6.4 -4.9
MGC Vanguard Mega Cap Index Fund 33.9 7 5 6.6 -4.8
AVUS Avantis U.S. Equity ETF 33.9 15 -3 7.6 -3.7
SNPE Xtrackers S&P 500 ESG ETF 33.9 11 1 6.6 -4.7
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 33.8 29 -17 8.7 -2.6
VLUE iShares Edge MSCI USA Value Factor ETF 33.7 15 -3 13.5 +2.2
JPUS JPMorgan Diversified Return U.S. Equity ETF 33.6 19 -7 7.9 -3.4
FTA First Trust Large Cap Value AlphaDEX Fund 33.6 60 -48 11.5 +0.2
IVV iShares Core S&P 500 ETF 33.5 4 8 6.8 -4.5
SPY SPDR S&P 500 ETF Trust 33.5 9 3 6.8 -4.5
VOO VANGUARD S&P 500 ETF 33.4 3 9 6.8 -4.5
SPLG SPDR Portfolio Large Cap ETF 33.4 3 9 6.9 -4.5
EQWL Invesco Russell Top 200 Equal Weight ETF 33.3 25 -13 7.3 -4.0
IWL iShares Russell Top 200 ETF 33.2 15 -3 6.4 -4.9
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 33.1 25 -13 8.2 -3.1
FLQL Franklin LibertyQ U.S. Equity ETF 33.0 15 -3 7.7 -3.6
QDF FlexShares Quality Dividend Index Fund 33.0 37 -25 8.5 -2.8
VV Vanguard Large-Cap Index Fund 33.0 4 8 6.7 -4.6
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 32.9 20 -8 6.4 -4.9
VONE Vanguard Russell 1000 ETF 32.8 8 4 6.7 -4.6
IWB iShares Russell 1000 ETF 32.7 15 -3 6.7 -4.6
OEF iShares S&P 100 ETF 32.7 20 -8 6.1 -5.2
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 32.7 17 -5 8.4 -2.9
DYNF BlackRock U.S. Equity Factor Rotation ETF 32.7 30 -18 7.6 -3.7
BBUS JP Morgan Betabuilders U.S. Equity ETF 32.6 2 10 6.8 -4.5
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 32.6 20 -8 6.8 -4.5
PBUS Invesco PureBeta MSCI USA ETF 32.6 4 8 6.8 -4.5
JDIV JPMorgan U.S. Dividend ETF 32.6 12 0 10.2 -1.1
QDEF FlexShares Quality Dividend Defensive Index Fund 32.5 37 -25 7.6 -3.7
SPXE ProShares S&P 500 Ex-Energy ETF 32.5 27 -15 6.7 -4.6
SCHX Schwab U.S. Large-Cap ETF 32.5 3 9 6.7 -4.6
SPTM SPDR Portfolio Total Stock Market ETF 32.4 3 9 7.0 -4.3
ONEY SPDR Russell 1000 Yield Focus ETF 32.4 20 -8 11.3 +0.0
FDVV Fidelity Core Dividend ETF 32.3 29 -17 9.3 -2.0
ESG FlexShares STOXX US ESG Impact Index Fund 32.2 32 -20 6.5 -4.8
ESGU iShares MSCI USA ESG Optimized ETF 32.2 15 -3 6.4 -4.9
IYY iShares Dow Jones U.S. ETF 32.2 20 -8 6.6 -4.7
SCHK Schwab 1000 Index ETF 32.1 5 7 6.7 -4.6
RSP Invesco S&P 500 Equal Weight ETF 32.1 20 -8 8.3 -3.0
REVS Columbia Research Enhanced Value ETF 32.1 19 -7 9.4 -1.9
TUSA First Trust Total US Market AlphaDEX ETF 31.9 70 -58 8.7 -2.6
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 31.8 9 3 7.0 -4.3
WOMN Impact Shares YWCA Women's Empowerment ETF 31.8 75 -63 6.0 -5.3
DGRW WisdomTree U.S. Quality Dividend Growth Fund 31.8 28 -16 8.0 -3.3
QDYN FlexShares Quality Dividend Dynamic Index Fund 31.8 37 -25 8.7 -2.6
CATH Global X S&P 500 Catholic Values Custom ETF 31.7 29 -17 6.7 -4.6
ONEO SPDR Russell 1000 Momentum Focus ETF 31.7 20 -8 8.8 -2.5
VTHR Vanguard Russell 3000 Index Fund 31.3 10 2 6.6 -4.7
IWV iShares Russell 3000 ETF 31.2 20 -8 6.5 -4.8
JKF iShares Morningstar Large Cap Value ETF 31.2 25 -13 9.3 -2.0
VTI Vanguard Total Stock Market Index Fund 31.1 3 9 6.7 -4.7
SCHB Schwab U.S. Broad Market ETF 31.1 3 9 6.7 -4.6
ITOT iShares Core S&P Total U.S. Stock Market ETF 31.0 3 9 6.7 -4.7
FEX First Trust Large Cap Core AlphaDEX Fund 31.0 60 -48 7.6 -3.7
IQSU IQ Candriam ESG US Equity ETF 30.9 9 3 6.4 -4.9
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 30.9 17 -5 8.5 -2.8
HLAL Wahed FTSE USA Shariah ETF 30.9 50 -38 6.0 -5.3
XOUT GraniteShares XOUT U.S. Large Cap ETF 30.9 60 -48 5.7 -5.6
OUSA O'Shares FTSE US Quality Dividend ETF 30.9 48 -36 6.8 -4.5
FLAG FLAG-Forensic Accounting Long Short ETF 30.5 152 -140 11.0 -0.3
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 30.5 19 -7 7.3 -4.1
QLC FlexShares US Quality Large Cap Index Fund 30.4 32 -20 7.1 -4.2

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%.

Content on this tab for subscribers only**

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. Value Factor ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 14.9 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 12 bp
Equals: ALTAR Score 11.3 %
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.