JEMA
JPMorgan ActiveBuilders Emerging Markets Equity ETF
JEMA is an actively-managed fund utilizing emerging market equity strategies across countries, regions, styles, and market capitalizations.
Emerging Market
EQUITY
Active
MANAGEMENT STYLE
1.2 B
ASSETS UNDER MGMT
33 bp
EXPENSES
Fund Basics
| Fund sponsor | JPMorgan Chase |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 10, 2021 |
| Assets (mns) | $1,172 |
| Expense ratio | 33 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
| TAIWAN SEMICONDUCTOR MANUFAC | 9.9 % |
| TENCENT HOLDINGS LTD | 6.3 % |
| ALIBABA GROUP HOLDING LTD. | 3.5 % |
| SAMSUNG ELECTRONICS CO LTD | 3.0 % |
| RELIANCE INDS-SPONS GDR 144A | 2.5 % |
| INFOSYS TECHNOLOGIES LTD | 1.4 % |
| ICICI BANK LTD | 1.4 % |
| HYNIX SEMICONDUCTOR INC | 1.2 % |
| NETEASE, INC | 1.1 % |
| HDFC BANK LIMITED | 1.1 % |
Constituent Breakdown
| Number of holdings | 530 |
| Herfindahl-Hirschman Index | 198 |
| Wgt avg mkt cap (mns) | $176,713 |
| Large cap (>$10bn) | 76.1% |
| Mid cap ($2-10bn) | 18.2% |
| Small cap (<$2bn) | 1.9% |
| Developed mkts. | 5.9% |
| Emerging mkts. | 92.0% |
Country Exposure
 |
CHINA | 27.3 % |
 |
TAIWAN | 18.7 % |
 |
INDIA | 16.6 % |
 |
SOUTH KOREA | 11.0 % |
 |
BRAZIL | 3.8 % |
 |
MEXICO | 2.6 % |
 |
HONG KONG | 2.5 % |
 |
SAUDI ARABIA | 2.3 % |
 |
SOUTH AFRICA | 1.9 % |
 |
INDONESIA | 1.9 % |
Historical Performance
Standardized Performance (as of 05/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 7.6% | 8.8% | 7.4% | 1.3% | -- | -- | -- | -4.8% |
| Dividend Yield | 0.0% | 0.0% | 1.6% | 1.9% | -- | -- | -- | 1.6% |
| Total Returns | 7.6% | 8.8% | 9.1% | 3.2% | -- | -- | -- | -3.2% | Ann. Volatility | 24.2% | 21.0% | 18.0% | 18.5% | -- | -- | -- | 18.7% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.69 | 43% |
| MSCI EAFE | 0.77 | 55% |
| MSCI Emg Mkts | 0.98 | 90% |
Liquidity Measures
| Avg. volume (000) | 43 |
| ADV traded (mns) | $2 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.24% |
Technical Indicators
| Recent close | $41.72 |
| 30d moving avg. | $40.78 |
| Annualized volatility | 17.7% |
| Relative strength (RSI) | 61 |
| Short interest | 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. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 56.4% | +33 bp | +10.2% |
| BBEM | JPMorgan BetaBuilders Emerging Markets Equity ETF | 55.4% | -18 bp | +10.6% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Free ETF | 55.3% | -3 bp | +10.6% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 54.8% | -22 bp | +10.3% |
| EEM | iShares MSCI Emerging Markets ETF | 54.1% | +36 bp | +10.5% |
| GSEE | Goldman Sachs MarketBeta Emerging Markets Equity ETF | 54.0% | +3 bp | +10.1% |
| GEM | Goldman Sachs ActiveBeta Emerging Markets Equity ETF | 53.1% | +12 bp | +10.7% |
| EMCR | Xtrackers Emerging Markets Carbon Reduction and Climate Impr | 52.7% | -18 bp | +8.3% |
| JHEM | John Hancock Multifactor Emerging Markets ETF | 51.9% | +16 bp | +10.4% |
| EEMA | iShares MSCI Emerging Markets Asia ETF | 51.7% | +16 bp | +10.4% |
Risk and Returns: 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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 6/16/2025
Peer Group Comparison Sample data. Subscribe for access.
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
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 Rating
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™
10.4%
Cat. Avg
8.2%
ALTAR Score™ Calculation
Category Overview
There are 112 funds in the Emerging Equity category, with an average ALTAR Score™
of 8.2% and a standard deviation of
2.6%. 's ALTAR Score™ is approximately
0.9 standard deviations
above
the category average. This places in the 81st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
JEMASELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active Emerging Market Equity ETFs |
| # of ETFs | 22 |
| Avg. Expense Ratio | 60.3 bp |
| Std. Deviation | 21.7 bp |
| (33 bp) Percentile rank | 10 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| 33.0 | 0.0 | 33 | |
| Peer Avg. | 58.3 | 23.8 | 82.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .