JPMorgan U.S. Value Factor ETF
ALTAR
Score™
7.1% info Recommen-
dation
SPECULATIVE
2021E    2022E
P/E
ratio
15.3x P/Sales
ratio
1.4x
P/BV
ratio
2.1x Div.
yield
2.3%


  • 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) $193
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 330
Wgt avg mkt cap (mns) $172,592
Large cap (>$10bn) 75.7%
Mid cap ($2-10bn) 24.1%
Small cap (<$2bn) 0.1%
Developed mkts 99.8%
Emerging mkts 0.2%

TOP TEN HOLDINGS
MICROSOFT CORP 1.8 %
ALPHABET INC. CLASS A 1.8 %
JOHNSON & JOHNSON 1.7 %
UNITEDHEALTH GROUP INC 1.6 %
APPLE INC 1.4 %
INTEL CORP 1.4 %
COMCAST CORP-CL A 1.3 %
FACEBOOK 1.3 %
AT&T INC 1.1 %
BROADCOM INC. 1.1 %
Total 14.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.5 %
IRELAND 2.2 %
BRITAIN 0.8 %
BERMUDA 0.5 %
PUERTO RICO 0.2 %
PANAMA 0.2 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 28)
Year-to-date 1 year 5 years 10 years Since Incep.
6.9% 31.0% -- -- 9.6%

Market Correlations
versus... Beta R-squared
S&P500 1.15 92%
MSCI EAFE 1.13 87%
MSCI Emg. Mkts. 0.93 73%

Technical Indicators
Recent close $31.92
30d moving avg. $31.58
Annualized volatility 22.2%
Short interest (ETF) 1.0%
Short interest (Underlying) 2.7%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 84
Turnover 1.4%
Bid/Ask (% of price) 0.21%
ADV underlying (mns) $111,421

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 96 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™: 7.1%


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
(%)
FNDX Schwab Fundamental U.S. Large Co. Index ETF 46.1 25 -13 5.7 -1.4
VFVA Vanguard U.S. Value Factor ETF 45.4 14 -2 8.3 +1.2
VOOV Vanguard S&P 500 Value ETF 45.2 10 2 6.3 -0.9
PRF Invesco FTSE RAFI US 1000 ETF 44.5 39 -27 5.8 -1.4
VONV Vanguard Russell 1000 Value Index Fund 44.0 8 4 6.1 -1.0
FNDB Schwab Fundamental U.S. Broad Market Index ETF 43.8 25 -13 5.6 -1.5
DIVB iShares U.S. Dividend & Buyback ETF 43.6 25 -13 6.0 -1.1
IUS Invesco Strategic US ETF 43.5 19 -7 5.3 -1.8
ESGV Vanguard ESG U.S. Stock ETF 43.2 12 0 4.7 -2.5
VTV Vanguard Value Index Fund 43.1 4 8 6.6 -0.5
EPS WisdomTree U.S. Earnings 500 Fund 42.2 8 4 6.2 -0.9
VLU SPDR S&P 1500 Value Tilt ETF 42.2 12 0 6.0 -1.1
IWD iShares Russell 1000 Value ETF 41.4 19 -7 6.0 -1.1
SCHV Schwab U.S. Large-Cap Value ETF 41.2 4 8 6.2 -1.0
IUSV iShares Core S&P U.S. Value ETF 41.1 4 8 6.4 -0.8
FVAL Fidelity Value Factor ETF 41.0 29 -17 6.8 -0.3
SPYV SPDR Portfolio S&P 500 Value ETF 40.6 4 8 6.3 -0.8
IVE iShares S&P 500 Value ETF 40.6 18 -6 6.2 -0.9
RWL Invesco S&P 500 Revenue ETF 40.2 39 -27 6.1 -1.0
VYM Vanguard High Dividend Yield Index ETF 39.7 6 6 6.9 -0.3
JHML John Hancock Multifactor Large Cap ETF 39.4 29 -17 5.0 -2.1
MGV Vanguard Mega Cap Value ETF 38.9 7 5 6.6 -0.5
RNLC Large Cap US Equity Select ETF 38.5 60 -48 5.3 -1.8
QUS SPDR MSCI USA StrategicFactors ETF 38.3 15 -3 5.5 -1.7
VALQ American Century STOXX U.S. Quality Value ETF 38.3 29 -17 7.8 +0.7
DTD WisdomTree U.S.Total Dividend Fund 38.2 28 -16 6.5 -0.7
ROUS Hartford Multifactor US Equity ETF 38.2 19 -7 6.3 -0.9
FAB First Trust Multi Cap Value AlphaDEX Fund 37.9 71 -59 7.5 +0.3
DGRO iShares Core Dividend Growth ETF 37.8 8 4 6.4 -0.7
DYNF BlackRock U.S. Equity Factor Rotation ETF 37.6 30 -18 5.5 -1.6
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 37.4 17 -5 6.2 -1.0
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 36.8 30 -18 5.2 -1.9
JPUS JPMorgan Diversified Return U.S. Equity ETF 36.8 18 -6 5.9 -1.2
RSP Invesco S&P 500 Equal Weight ETF 36.6 20 -8 5.4 -1.7
RESP WisdomTree US ESG Fund of Benef Interest 36.5 28 -16 5.5 -1.7
DLN WisdomTree U.S. LargeCap Dividend Fund 36.3 28 -16 6.4 -0.7
JCTR JPMorgan Carbon Transition U.S. Equity ETF 35.9 15 -3 5.0 -2.2
RAFE PIMCO RAFI ESG U.S. ETF 35.9 30 -18 6.8 -0.4
ONEO SPDR Russell 1000 Momentum Focus ETF 35.5 20 -8 5.7 -1.5
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 35.4 9 3 5.1 -2.0
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 35.4 29 -17 6.4 -0.8
RECS Columbia Research Enhanced Core ETF 35.2 15 -3 5.5 -1.6
PBP Invesco S&P 500 BuyWrite ETF 35.0 49 -37 4.5 -2.6
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 34.9 19 -7 5.3 -1.8
FLQL Franklin LibertyQ U.S. Equity ETF 34.9 15 -3 6.1 -1.0
XYLG Global X S&P 500 Covered Call & Growth ETF 34.9 60 -48 4.4 -2.7
AVUS Avantis U.S. Equity ETF 34.8 15 -3 5.1 -2.1
SPY SPDR S&P 500 ETF Trust 34.8 9 3 4.9 -2.3
SPLG SPDR Portfolio Large Cap ETF 34.8 3 9 5.0 -2.2
IVV iShares Core S&P 500 ETF 34.7 3 9 4.9 -2.2
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 34.7 15 -3 0.0 -7.1
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 34.6 20 -8 4.8 -2.3
DFAU Dimensional US Core Equity Market ETF 34.5 12 0 4.9 -2.3
VLUE iShares MSCI USA Value Factor ETF 34.4 15 -3 9.4 +2.3
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 34.4 20 -8 4.9 -2.2
MGC Vanguard Mega Cap Index Fund 34.2 7 5 4.8 -2.3
VOO VANGUARD S&P 500 ETF 34.2 3 9 4.9 -2.2
FDRR Fidelity Dividend ETF for Rising Rates 34.2 29 -17 6.6 -0.5
AFLG First Trust Active Factor Large Cap ETF 34.0 55 -43 4.9 -2.3
WOMN Impact Shares YWCA Women's Empowerment ETF 33.9 75 -63 4.5 -2.7
SPXN ProShares S&P 500 Ex-Financials ETF 33.8 27 -15 4.5 -2.7
IWX iShares Russell Top 200 Value ETF 33.8 20 -8 6.2 -1.0
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 33.7 17 -5 5.8 -1.4
CATH Global X S&P 500 Catholic Values Custom ETF 33.7 29 -17 4.7 -2.5
SPTM SPDR Portfolio Total Stock Market ETF 33.7 3 9 5.0 -2.2
IWB iShares Russell 1000 ETF 33.7 15 -3 4.7 -2.5
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 33.7 7 5 4.7 -2.4
BBUS JP Morgan Betabuilders U.S. Equity ETF 33.6 2 10 4.8 -2.3
SPXE ProShares S&P 500 Ex-Energy ETF 33.6 27 -15 4.8 -2.3
SNPE Xtrackers S&P 500 ESG ETF 33.6 10 2 4.9 -2.2
EFIV SPDR S&P 500 ESG ETF 33.6 10 2 4.9 -2.2
PBUS Invesco PureBeta MSCI USA ETF 33.5 4 8 4.8 -2.3
SCHX Schwab U.S. Large-Cap ETF 33.4 3 9 4.8 -2.4
VV Vanguard Large-Cap Index Fund 33.2 4 8 4.8 -2.4
REVS Columbia Research Enhanced Value ETF 33.2 19 -7 6.8 -0.3
JQUA JPMorgan U.S. Quality Factor ETF 33.1 12 0 5.3 -1.8
IYY iShares Dow Jones U.S. ETF 33.1 20 -8 4.6 -2.5
CFA VictoryShares US 500 Volatility Weighted Index ETF 33.1 35 -23 5.3 -1.9
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 33.1 35 -23 5.2 -1.9
ESG FlexShares STOXX US ESG Impact Index Fund 33.0 32 -20 4.8 -2.4
RNDV US Equity Dividend Select ETF 33.0 50 -38 7.3 +0.2
SCHK Schwab 1000 Index ETF 32.9 5 7 4.7 -2.5
FEX First Trust Large Cap Core AlphaDEX Fund 32.9 60 -48 5.0 -2.1
IWL iShares Russell Top 200 ETF 32.9 15 -3 4.7 -2.4
ACVF American Conservative Values ETF 32.7 75 -63 4.4 -2.8
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 32.7 25 -13 5.0 -2.1
VONE Vanguard Russell 1000 ETF 32.6 8 4 4.7 -2.4
ESGU iShares MSCI USA ESG Optimized ETF 32.4 15 -3 4.7 -2.5
JDIV JPMorgan U.S. Dividend ETF 32.3 12 0 6.6 -0.6
FTA First Trust Large Cap Value AlphaDEX Fund 32.2 60 -48 7.3 +0.2
XVV iShares ESG Screened S&P 500 ETF 32.1 8 4 5.0 -2.2
BKLC BNY Mellon US Large Cap Core Equity ETF 32.0 0 12 4.8 -2.4
VTHR Vanguard Russell 3000 Index Fund 31.9 10 2 4.6 -2.6
IWV iShares Russell 3000 ETF 31.8 20 -8 4.5 -2.7
SCHB Schwab U.S. Broad Market ETF 31.6 3 9 4.6 -2.5
EQWL Invesco Russell Top 200 Equal Weight ETF 31.6 25 -13 5.9 -1.3

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

  2016 2017 2018 2019 2020 2021E 2022E
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
  2020 2021E 2022E
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 14.7 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 12 bp
Equals: ALTAR Score 7.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.52 CATEGORY
AVERAGE
1.50
 
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.