JCHI
JPMorgan Active China ETF
JCHI is actively managed to hold a narrow portfolio of Chinese equities and equity-related securities that are fundamentally assessed for sustainable growth and disciplined capital management. The fund also considers ESG factors during the investment process.
Fund Basics
| Fund sponsor | JPMorgan Chase |
| Category | Emerging Market Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 16, 2023 |
| Assets (mns) | $11 |
| Expense ratio | 65 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| TENCENT HOLDINGS LTD | 10.0 % |
| ALIBABA GROUP HOLDING LTD. | 4.6 % |
| KWEICHOW MOUTAI CO LTD-A | 4.4 % |
| CHINA MERCHANTS BANK - H | 4.0 % |
| MEITUAN DIANPING | 3.4 % |
| PING AN INSURANCE GROUP CO-H | 3.4 % |
| CHINA CONSTRUCTION BANK-H | 2.9 % |
| NETEASE, INC | 2.8 % |
| HAIER SMART HOME CO., LTD. CLASS H | 2.6 % |
| YANTAI WANHUA POLYURETHANE-A | 2.5 % |
Constituent Breakdown
| Number of holdings | 53 |
| Herfindahl-Hirschman Index | 298 |
| Wgt avg mkt cap (mns) | $73,219 |
| Large cap (>$10bn) | 55.9% |
| Mid cap ($2-10bn) | 24.4% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 6.1% |
| Emerging mkts. | 93.9% |
Country Exposure
 |
CHINA | 97.8 % |
 |
HONG KONG | 2.6 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -- | -- | -- | -- | -- | -- | -29.0% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.00 | 0% |
| MSCI EAFE | 0.00 | 0% |
| MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
| Avg. volume (000) | 1 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.33% |
| ADV of underlying (mns) | $3,915 |
Technical Indicators
| Recent close | $42.40 |
| 30d moving avg. | $44.04 |
| Annualized volatility | 0.0% |
| Relative strength (RSI) | 30 |
| Short interest (ETF) | 2.5% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. JCHI |
Expenses vs. JCHI |
ALTAR Score™ vs. JCHI |
|---|---|---|---|---|
| MCHI | iShares MSCI China ETF | 35.3% | -7 bp | +1.5% |
| FXI | iShares China Large-Cap ETF | 35.3% | +9 bp | +4.1% |
| KALL | KraneShares MSCI All China Index ETF | 35.0% | -16 bp | +1.8% |
| FLCH | Franklin FTSE China ETF | 34.6% | -46 bp | +1.7% |
| GXC | SPDR S&P China ETF | 32.0% | -6 bp | +1.6% |
| MCH | Matthews China Active ETF | 30.2% | +14 bp | -0.5% |
| KESG | KraneShares MSCI China ESG Leaders Index ETF | 29.3% | -6 bp | +2.4% |
| CXSE | WisdomTree China ex-State-Owned Enterprises Fund | 28.4% | -33 bp | -2.4% |
| KTEC | KraneShares Hang Seng TECH Index ETF | 27.8% | +4 bp | -10.4% |
| AIA | iShares Asia 50 ETF | 26.6% | -15 bp | -0.1% |
Risk and Returns: JCHI vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2022 | 2023E | Fwd Est | 2024E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 9/20/2023
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
JCHI
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
JCHI
9.1%
Cat. Avg
7.7%
Fund Category: Emerging Market Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 9.1% |
Recommendation
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
Category Overview
There are 188 funds in the Emerging Market Equities category, with an average ALTAR Score™
of 7.7% and a standard deviation of
4.1%. JCHI's ALTAR Score™ is approximately
0.4 standard deviations
above
the category average. This places JCHI in the 64th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
JCHI
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| JCHI | 65.0 | 33.0 | 98 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .