JPMorgan U.S. Value Factor ETF
ALTAR
Score™
7.7% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
20.6x P/Sales
ratio
1.4x
P/BV
ratio
2.0x Div.
yield
2.5%


  • 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) $79
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 336
Wgt avg mkt cap (mns) $160,511
Large cap (>$10bn) 74.0%
Mid cap ($2-10bn) 25.1%
Small cap (<$2bn) 0.8%
Developed mkts 99.9%
Emerging mkts 0.1%

TOP TEN HOLDINGS
UNITEDHEALTH GROUP INC 1.8 %
MICROSOFT CORP 1.8 %
JOHNSON & JOHNSON 1.8 %
ALPHABET INC. CLASS A 1.8 %
APPLE INC 1.6 %
FACEBOOK 1.5 %
COMCAST CORP-CL A 1.4 %
PFIZER INC 1.3 %
MERCK & CO. INC. 1.2 %
INTEL CORP 1.2 %
Total 15.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.3 %
IRELAND 2.3 %
BRITAIN 1.0 %
BERMUDA 0.4 %
PANAMA 0.2 %
PUERTO RICO 0.2 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-12.1% -5.8% -- -- 1.5%

Market Correlations
versus... Beta R-squared
S&P500 1.10 93%
MSCI EAFE 1.16 86%
MSCI Emg. Mkts. 0.86 72%

Technical Indicators
Recent close $28.21
30d moving avg. $26.72
Annualized volatility 20.6%
Short interest (ETF) 0.1%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.2%
Bid/Ask (% of price) 0.24%
ADV underlying (mns) $86,005

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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™: 7.7%


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 45.9 25 -13 6.2 -1.5
DIVB iShares U.S. Dividend & Buyback ETF 44.8 25 -13 6.4 -1.4
PRF Invesco FTSE RAFI US 1000 ETF 44.6 39 -27 6.3 -1.4
FNDB Schwab Fundamental U.S. Broad Market Index ETF 44.0 25 -13 6.2 -1.5
IUS Invesco Strategic US ETF 44.0 19 -7 5.9 -1.8
EPS WisdomTree U.S. Earnings 500 Fund 43.8 8 4 6.1 -1.6
VLU SPDR S&P 1500 Value Tilt ETF 43.3 12 0 6.7 -1.0
VTV Vanguard Value Index Fund 43.2 4 8 6.9 -0.8
VOOV Vanguard S&P 500 Value ETF 43.1 10 2 6.9 -0.8
IUSV iShares Core S&P U.S. Value ETF 42.4 4 8 7.0 -0.7
DTD WisdomTree U.S.Total Dividend Fund 41.9 28 -16 6.3 -1.4
VONV Vanguard Russell 1000 Value Index Fund 41.9 8 4 6.6 -1.1
SPYV SPDR Portfolio S&P 500 Value ETF 41.7 4 8 6.9 -0.8
IVE iShares S&P 500 Value ETF 41.7 18 -6 6.8 -0.9
IWD iShares Russell 1000 Value ETF 41.2 19 -7 6.4 -1.3
SCHV Schwab U.S. Large-Cap Value ETF 40.7 4 8 6.4 -1.3
USDY Pacific Global US Equity Income ETF 40.7 29 -17 7.7 -0.1
DLN WisdomTree U.S. LargeCap Dividend Fund 40.4 28 -16 6.1 -1.6
DGRO iShares Core Dividend Growth ETF 40.2 8 4 6.3 -1.4
RWL Invesco S&P 500 Revenue ETF 39.9 39 -27 6.7 -1.0
MGV Vanguard Mega Cap Value ETF 39.1 7 5 6.8 -0.9
JHML John Hancock Multifactor Large Cap ETF 38.9 29 -17 5.2 -2.6
RECS Columbia Research Enhanced Core ETF 38.6 15 -3 5.4 -2.4
VYM Vanguard High Dividend Yield Index ETF 38.6 6 6 7.1 -0.6
RNLC Large Cap US Equity Select ETF 38.6 60 -48 5.6 -2.1
QUS SPDR MSCI USA StrategicFactors ETF 38.6 15 -3 5.5 -2.2
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 38.4 29 -17 6.3 -1.4
DYNF BlackRock U.S. Equity Factor Rotation ETF 38.2 30 -18 6.2 -1.5
ROUS Hartford Multifactor US Equity ETF 37.4 19 -7 6.2 -1.5
VFVA Vanguard U.S. Value Factor ETF 37.1 14 -2 9.8 +2.1
RAFE PIMCO RAFI ESG U.S. ETF 37.0 29 -17 7.2 -0.5
FAB First Trust Multi Cap Value AlphaDEX Fund 36.6 71 -59 8.6 +0.9
FVAL Fidelity Value Factor ETF 36.5 29 -17 7.3 -0.4
RSP Invesco S&P 500 Equal Weight ETF 36.1 20 -8 6.0 -1.7
JPUS JPMorgan Diversified Return U.S. Equity ETF 36.0 18 -6 5.9 -1.9
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 35.9 19 -7 5.6 -2.1
VALQ American Century STOXX U.S. Quality Value ETF 35.7 29 -17 7.9 +0.2
AVUS Avantis U.S. Equity ETF 35.6 15 -3 5.2 -2.5
PBP Invesco S&P 500 BuyWrite ETF 35.5 49 -37 4.7 -3.0
HSPX Global X S&P 500 Covered Call ETF 35.5 60 -48 4.6 -3.1
REVS Columbia Research Enhanced Value ETF 35.3 19 -7 7.3 -0.4
XYLG Global X S&P 500 Covered Call & Growth ETF 35.3 60 -48 4.7 -3.1
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 35.1 29 -17 5.3 -2.4
AFLG First Trust Active Factor Large Cap ETF 35.1 55 -43 5.0 -2.7
EXT WisdomTree U.S. Total Earnings Fund 35.0 28 -16 5.3 -2.4
SPLG SPDR Portfolio Large Cap ETF 35.0 3 9 5.1 -2.6
SPY SPDR S&P 500 ETF Trust 35.0 9 3 5.0 -2.7
IVV iShares Core S&P 500 ETF 34.9 3 9 5.1 -2.6
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 34.9 15 -3 6.0 -1.7
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 34.8 25 -13 5.8 -1.9
FDRR Fidelity Dividend ETF for Rising Rates 34.8 29 -17 6.4 -1.3
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 34.7 17 -5 6.4 -1.3
JQUA JPMorgan U.S. Quality Factor ETF 34.7 12 0 5.2 -2.5
SPXN ProShares S&P 500 Ex-Financials ETF 34.6 27 -15 4.7 -3.0
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 34.6 9 3 5.3 -2.4
ESGV Vanguard ESG U.S. Stock ETF 34.5 12 0 4.8 -2.9
VOO VANGUARD S&P 500 ETF 34.5 3 9 5.1 -2.6
ONEO SPDR Russell 1000 Momentum Focus ETF 34.3 20 -8 6.0 -1.7
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 34.3 20 -8 4.7 -3.0
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 34.2 20 -8 5.0 -2.7
SPTM SPDR Portfolio Total Stock Market ETF 33.9 3 9 5.2 -2.5
RNDV US Equity Dividend Select ETF 33.9 50 -38 8.1 +0.4
MGC Vanguard Mega Cap Index Fund 33.8 7 5 4.9 -2.8
SPXE ProShares S&P 500 Ex-Energy ETF 33.8 27 -15 5.0 -2.8
BBUS JP Morgan Betabuilders U.S. Equity ETF 33.8 2 10 4.9 -2.8
CATH Global X S&P 500 Catholic Values Custom ETF 33.6 29 -17 4.8 -2.9
IWB iShares Russell 1000 ETF 33.6 15 -3 4.8 -2.9
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 33.6 7 5 4.9 -2.8
SCHK Schwab 1000 Index ETF 33.4 5 7 4.9 -2.8
PBUS Invesco PureBeta MSCI USA ETF 33.4 4 8 4.9 -2.8
SCHX Schwab U.S. Large-Cap ETF 33.3 3 9 4.9 -2.8
SNPE Xtrackers S&P 500 ESG ETF 33.3 10 2 4.8 -2.9
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 33.3 17 -5 6.0 -1.7
ESG FlexShares STOXX US ESG Impact Index Fund 33.3 32 -20 4.8 -2.9
EFIV SPDR S&P 500 ESG ETF 33.2 10 2 4.8 -2.9
IWX iShares Russell Top 200 Value ETF 33.1 20 -8 6.4 -1.3
IYY iShares Dow Jones U.S. ETF 33.1 20 -8 4.7 -3.0
VV Vanguard Large-Cap Index Fund 32.8 4 8 4.9 -2.8
VTHR Vanguard Russell 3000 Index Fund 32.7 10 2 4.7 -3.0
SPXT ProShares S&P 500 Ex-Technology ETF 32.5 27 -15 5.3 -2.5
FLQL Franklin LibertyQ U.S. Equity ETF 32.5 15 -3 5.9 -1.8
IWS iShares Russell Mid-Cap Value ETF 32.5 24 -12 6.4 -1.3
IWL iShares Russell Top 200 ETF 32.4 15 -3 4.7 -3.0
CFA VictoryShares US 500 Volatility Weighted Index ETF 32.3 35 -23 5.4 -2.3
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 32.3 35 -23 5.4 -2.3
ESGU iShares MSCI USA ESG Optimized ETF 32.3 15 -3 4.8 -2.9
EUSA iShares MSCI USA Equal Weighted ETF 32.2 15 -3 5.7 -2.1
JDIV JPMorgan U.S. Dividend ETF 32.2 12 0 7.2 -0.6
BKLC BNY Mellon US Large Cap Core Equity ETF 32.1 0 12 4.9 -2.9
IWV iShares Russell 3000 ETF 31.9 20 -8 4.6 -3.1
FTA First Trust Large Cap Value AlphaDEX Fund 31.9 60 -48 7.9 +0.2
SCHB Schwab U.S. Broad Market ETF 31.9 3 9 4.8 -2.9
ITOT iShares Core S&P Total U.S. Stock Market ETF 31.7 3 9 4.8 -2.9
SIZE iShares MSCI USA Size Factor ETF 31.6 15 -3 5.6 -2.1
OEF iShares S&P 100 ETF 31.5 20 -8 4.6 -3.1
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 31.3 9 3 5.5 -2.2
QDYN FlexShares Quality Dividend Dynamic Index Fund 31.3 37 -25 5.7 -2.0
ONEY SPDR Russell 1000 Yield Focus ETF 31.2 20 -8 7.9 +0.2
VEGN US Vegan Climate ETF 31.2 60 -48 4.8 -2.9

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 14.4 %
Divided by: Fwd. P/BV 1.8 x
Less: Expense ratio 12 bp
Equals: ALTAR Score 7.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.51 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.