JPEM

JPMorgan Diversified Return Emerging Markets Equity ETF

JPMorgan Diversified Return Emerging Markets Equity ETF is a U.S. registered exchange-traded fund. The Fund seeks investment results of the FTSE Emerging Diversified Factor Index, which employs a unique risk framework to diversify risks across regions and super sectors, and a multi-factor stock ranking process to identify companies with strong fundamentals.


Emerging Market

EQUITY

Rules-Based

MANAGEMENT STYLE

44 bp

EXPENSES

$328.9 M

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorJP Morgan Investment Managemen
CategoryEmerging
Asset classEquity
Websitelink...
Inception dateJan 07, 2015
Assets (mns)$329
Expense ratio44 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-End Investment Company
DistributionsAnnually
Taxation1099
Stock selectionMulti-Factor
WeightingTiered
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
TAIWAN SEMICONDUCTOR MANUFAC 1.6 %
INFOSYS TECHNOLOGIES LTD 1.4 %
RELIANCE INDS-SPONS GDR 144A 1.3 %
BANK OF CHINA LTD - H 1.1 %
PETROBRAS - PETROLEO BRAS-PR 1.0 %
TATA CONSULTANCY SVS LTD 0.9 %
HINDUSTAN UNILEVER LIMITED 0.9 %
VALE SA 0.8 %
CHINATRUST FINANCIAL HOLDING 0.8 %
IND & COMM BK OF CHINA - H 0.8 %
Constituent Breakdown
Number of holdings565
Herfindahl-Hirschman Index 36
Wgt avg mkt cap (mns)$51,858
Large cap (>$10bn)47.9%
Mid cap ($2-10bn)44.4%
Small cap (<$2bn)6.6%
Developed mkts.4.4%
Emerging mkts.95.6%
Country Exposure
CHINA 20.4 %
INDIA 12.9 %
TAIWAN 11.6 %
TURKEY 10.6 %
BRAZIL 7.9 %
MEXICO 6.0 %
SAUDI ARABIA 4.0 %
SOUTH AFRICA 3.4 %
INDONESIA 3.3 %
MALAYSIA 2.7 %
Historical Performance


Standardized Performance (as of 06/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 5.1% 14.1% 10.3% 2.1% 4.0% -- 4.2%
Volatility 10.2% 10.9% 12.6% 13.4% 18.9% -- --
Market Correlations
versus...BetaR-squared
S&P 5000.4949%
MSCI EAFE0.6375%
MSCI Emg Mkts0.6581%
Liquidity Measures
Avg. volume (000)30
Turnover0.5%
Avg. Bid/Ask (% of price)0.16%
ADV of underlying (mns)$15,079
Technical Indicators
Recent close$54.82
30d moving avg.$56.00
Annualized volatility12.7%
Relative strength (RSI)50
Short interest (ETF)2.2%
Short interest (underlying)0.0%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

Risk and Returns: JPEM 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
  2019 2020 2021 2022 2023 2024E 2025E  
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
  2023 2024E Fwd Est 2025E
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 --%
0.8 8.6 1.3 4.5% --
Based on closing prices from 7/19/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
JPEM



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™

JPEM

10.2%

Cat. Avg

7.4%

Fund Category: Emerging

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™10.2%
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 161 funds in the Emerging category, with an average ALTAR Score™ of 7.4% and a standard deviation of 3.8%. JPEM's ALTAR Score™ is approximately 0.8 standard deviations above the category average. This places JPEM in the 77th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
JPEM
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown
Expense Analysis

Peer Group Rules-Based
Emerging Market Equity ETFs
# of ETFs 103
Avg. Expense Ratio 64.6 bp
Std. Deviation 29 bp
JPEM (44 bp) Percentile rank 24
Peer Group Expense Ratio Distribution


Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
JPEM 44.0 16.2 60.2
Peer Avg. 49.0 36.9 85.8
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .