JPMorgan U.S. Value Factor ETF
ALTAR
Score™
9.0% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
18.1x P/Sales
ratio
1.2x
P/BV
ratio
1.7x Div.
yield
2.9%


  • 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) $64
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 320
Wgt avg mkt cap (mns) $163,365
Large cap (>$10bn) 72.8%
Mid cap ($2-10bn) 26.0%
Small cap (<$2bn) 1.2%
Developed mkts 99.9%
Emerging mkts 0.2%

TOP TEN HOLDINGS
APPLE INC 2.6 %
MICROSOFT CORP 2.1 %
JOHNSON & JOHNSON 1.9 %
UNITEDHEALTH GROUP INC 1.8 %
COMCAST CORP-CL A 1.5 %
INTEL CORP 1.4 %
PFIZER INC 1.4 %
MERCK & CO. INC. 1.4 %
ALPHABET INC. CLASS A 1.4 %
WAL-MART STORES INC 1.2 %
Total 16.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 93.3 %
IRELAND 2.4 %
BRITAIN 0.9 %
BERMUDA 0.4 %
PUERTO RICO 0.2 %
PANAMA 0.1 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-8.7% 4.2% -- -- 3.0%

Market Correlations
versus... Beta R-squared
S&P500 1.13 94%
MSCI EAFE 1.18 87%
MSCI Emg. Mkts. 0.86 73%

Technical Indicators
Recent close $24.72
30d moving avg. $25.63
Annualized volatility 21.2%
Short interest (ETF) 0.5%
Relative strength (RSI) 38

Liquidity measures
Avg. volume (thou.) 4
Turnover 0.2%
Bid/Ask (% of price) 0.24%
ADV underlying (mns) $11,740

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™: 9.0%


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 45.6 25 -13 7.4 -1.6
DIVB iShares U.S. Dividend & Buyback ETF 45.1 25 -13 7.3 -1.8
PRF Invesco FTSE RAFI US 1000 ETF 44.6 39 -27 7.4 -1.7
SCHV Schwab U.S. Large-Cap Value ETF 44.1 4 8 7.3 -1.8
IUS Invesco Strategic US ETF 43.9 19 -7 7.1 -1.9
FNDB Schwab Fundamental U.S. Broad Market Index ETF 43.7 25 -13 7.4 -1.6
VTV Vanguard Value Index Fund 43.7 4 8 7.5 -1.5
VLU SPDR S&P 1500 Value Tilt ETF 43.3 12 0 7.7 -1.3
EPS WisdomTree U.S. Earnings 500 Fund 42.9 8 4 7.2 -1.8
DTD WisdomTree U.S.Total Dividend Fund 42.4 28 -16 7.2 -1.8
USDY Pacific Global US Equity Income ETF 42.2 29 -17 7.2 -1.8
VOOV Vanguard S&P 500 Value ETF 41.8 10 2 7.4 -1.6
IUSV iShares Core S&P U.S. Value ETF 41.6 4 8 7.6 -1.5
IVE iShares S&P 500 Value ETF 41.5 18 -6 7.4 -1.7
DLN WisdomTree U.S. LargeCap Dividend Fund 41.4 28 -16 7.1 -2.0
SPYV SPDR Portfolio S&P 500 Value ETF 41.4 4 8 7.5 -1.5
DGRO iShares Core Dividend Growth ETF 40.8 8 4 7.0 -2.0
IWD iShares Russell 1000 Value ETF 40.2 19 -7 7.0 -2.0
MGV Vanguard Mega Cap Value ETF 40.2 7 5 7.3 -1.7
VONV Vanguard Russell 1000 Value Index Fund 40.1 8 4 7.1 -1.9
RNLC Large Cap US Equity Select ETF 39.1 60 -48 6.5 -2.6
DYNF BlackRock U.S. Equity Factor Rotation ETF 39.1 30 -18 6.7 -2.4
RWL Invesco S&P 500 Revenue ETF 39.1 39 -27 7.5 -1.5
VFVA Vanguard U.S. Value Factor ETF 39.0 14 -2 11.5 +2.5
RAFE PIMCO RAFI ESG U.S. ETF 38.5 29 -17 7.7 -1.3
VYM Vanguard High Dividend Yield Index ETF 38.2 6 6 7.6 -1.4
QUS SPDR MSCI USA StrategicFactors ETF 38.1 15 -3 6.2 -2.8
JHML John Hancock Multifactor Large Cap ETF 37.4 29 -17 6.0 -3.0
FDRR Fidelity Dividend ETF for Rising Rates 37.3 29 -17 7.7 -1.3
ROUS Hartford Multifactor US Equity ETF 36.7 19 -7 6.6 -2.5
RECS Columbia Research Enhanced Core ETF 36.6 15 -3 6.6 -2.5
FVAL Fidelity Value Factor ETF 36.4 29 -17 8.6 -0.5
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 36.3 29 -17 7.0 -2.0
RNDV US Equity Dividend Select ETF 36.2 50 -38 8.3 -0.8
FAB First Trust Multi Cap Value AlphaDEX Fund 36.2 71 -59 10.3 +1.2
VALQ American Century STOXX U.S. Quality Value ETF 36.0 29 -17 9.2 +0.2
REVS Columbia Research Enhanced Value ETF 35.1 19 -7 7.6 -1.4
RSP Invesco S&P 500 Equal Weight ETF 34.8 20 -8 6.7 -2.3
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 34.7 19 -7 6.8 -2.3
AFLG First Trust Active Factor Large Cap ETF 34.6 55 -43 6.4 -2.7
JPUS JPMorgan Diversified Return U.S. Equity ETF 34.6 18 -6 6.3 -2.7
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 34.0 15 -3 7.1 -1.9
FEX First Trust Large Cap Core AlphaDEX Fund 34.0 60 -48 6.1 -2.9
EXT WisdomTree U.S. Total Earnings Fund 34.0 28 -16 6.1 -2.9
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 33.8 25 -13 6.9 -2.1
SPXN ProShares S&P 500 Ex-Financials ETF 33.7 27 -15 5.8 -3.2
IWX iShares Russell Top 200 Value ETF 33.5 20 -8 6.9 -2.1
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 33.5 9 3 6.2 -2.8
FTA First Trust Large Cap Value AlphaDEX Fund 33.3 60 -48 9.6 +0.5
AVUS Avantis U.S. Equity ETF 33.3 15 -3 6.2 -2.8
XYLG Global X S&P 500 Covered Call & Growth ETF 33.3 60 -48 5.7 -3.4
SPY SPDR S&P 500 ETF Trust 33.2 9 3 6.1 -3.0
PBP Invesco S&P 500 BuyWrite ETF 33.2 49 -37 5.7 -3.4
HSPX Global X S&P 500 Covered Call ETF 33.0 60 -48 5.5 -3.5
SIZE iShares Edge MSCI USA Size Factor ETF 33.0 15 -3 6.2 -2.8
SPLG SPDR Portfolio Large Cap ETF 33.0 3 9 6.1 -2.9
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 33.0 29 -17 6.4 -2.7
VOO VANGUARD S&P 500 ETF 32.8 3 9 6.1 -2.9
IVV iShares Core S&P 500 ETF 32.8 3 9 6.1 -2.9
MGC Vanguard Mega Cap Index Fund 32.6 7 5 6.0 -3.1
ONEO SPDR Russell 1000 Momentum Focus ETF 32.6 20 -8 6.6 -2.5
SCHX Schwab U.S. Large-Cap ETF 32.5 3 9 5.9 -3.1
SPTM SPDR Portfolio Total Stock Market ETF 32.4 3 9 6.2 -2.9
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 32.4 7 5 6.0 -3.0
QDYN FlexShares Quality Dividend Dynamic Index Fund 32.4 37 -25 7.1 -2.0
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 32.4 20 -8 5.7 -3.3
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 32.4 20 -8 6.1 -3.0
IWB iShares Russell 1000 ETF 32.2 15 -3 5.7 -3.3
IYY iShares Dow Jones U.S. ETF 32.2 20 -8 5.8 -3.3
SCHK Schwab 1000 Index ETF 32.1 5 7 5.9 -3.1
SPXE ProShares S&P 500 Ex-Energy ETF 32.1 27 -15 6.1 -3.0
JDIV JPMorgan U.S. Dividend ETF 32.1 12 0 8.0 -1.0
PBUS Invesco PureBeta MSCI USA ETF 32.0 4 8 6.0 -3.1
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 32.0 17 -5 6.6 -2.4
VLUE iShares Edge MSCI USA Value Factor ETF 32.0 15 -3 11.8 +2.7
CFA VictoryShares US 500 Volatility Weighted Index ETF 31.9 35 -23 5.9 -3.2
VONE Vanguard Russell 1000 ETF 31.8 8 4 5.8 -3.2
VV Vanguard Large-Cap Index Fund 31.8 4 8 5.9 -3.1
IWS iShares Russell Mid-Cap Value ETF 31.6 24 -12 7.2 -1.8
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 31.5 35 -23 5.9 -3.1
FLQL Franklin LibertyQ U.S. Equity ETF 31.4 15 -3 6.3 -2.7
ESG FlexShares STOXX US ESG Impact Index Fund 31.2 32 -20 5.7 -3.3
IWL iShares Russell Top 200 ETF 31.2 15 -3 5.8 -3.2
VTHR Vanguard Russell 3000 Index Fund 31.2 10 2 5.7 -3.4
BKLC BNY Mellon US Large Cap Core Equity ETF 31.1 0 12 6.0 -3.0
ESGU iShares MSCI USA ESG Optimized ETF 31.1 15 -3 5.8 -3.3
CATH Global X S&P 500 Catholic Values Custom ETF 31.1 29 -17 5.9 -3.1
SCIU Global X Scientific Beta US ETF 31.1 19 -7 6.0 -3.1
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 31.1 17 -5 6.5 -2.5
SCHB Schwab U.S. Broad Market ETF 31.1 3 9 5.8 -3.2
JQUA JPMorgan U.S. Quality Factor ETF 31.1 12 0 5.7 -3.4
ITOT iShares Core S&P Total U.S. Stock Market ETF 31.0 3 9 5.8 -3.3
IWV iShares Russell 3000 ETF 30.8 20 -8 5.6 -3.5
OEF iShares S&P 100 ETF 30.8 20 -8 5.9 -3.2
SNPE Xtrackers S&P 500 ESG ETF 30.7 10 2 6.0 -3.0
EUSA iShares MSCI USA Equal Weighted ETF 30.7 15 -3 6.3 -2.7
WOMN Impact Shares YWCA Women's Empowerment ETF 30.5 75 -63 5.1 -3.9
EQWL Invesco Russell Top 200 Equal Weight ETF 30.4 25 -13 6.3 -2.8
BBUS JP Morgan Betabuilders U.S. Equity ETF 30.3 2 10 6.0 -3.1
DGRW WisdomTree U.S. Quality Dividend Growth Fund 30.2 28 -16 7.4 -1.7

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. 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 14.5 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 12 bp
Equals: ALTAR Score 9.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 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.