JVAL

JPMorgan U.S. Value Factor ETF

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


Rules-Based, Diverse

MANAGEMENT MATRIX

FNDX

CLOSEST COMP

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorJPMorgan
CategoryUS Equities
Asset classEquity
Websitelink...
Inception dateNov 08, 2017
Assets (mns)$823
Expense ratio12 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsAnnually
Taxation1099
Stock selectionFundamental
WeightingProprietary
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
META PLATFORMS INC 2.8 %
BROADCOM INC. 2.6 %
MICROSOFT CORP 2.0 %
ALPHABET INC. CLASS A 1.9 %
APPLE INC 1.7 %
UNITEDHEALTH GROUP INC 1.6 %
MERCK & CO. INC. 1.5 %
JOHNSON & JOHNSON 1.4 %
SALESFORCE.COM INC 1.3 %
QUALCOMM INC 0.9 %
Constituent Breakdown
Number of holdings361
Herfindahl-Hirschman Index 63
Wgt avg mkt cap (mns)$279,366
Large cap (>$10bn)79.9%
Mid cap ($2-10bn)19.5%
Small cap (<$2bn)0.7%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
UNITED STATES 95.3 %
BRITAIN 1.7 %
IRELAND 1.1 %
Historical Performance


Standardized Annual Returns (as of 03/31/2024)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
8.3% 26.1% 9.2% 9.5% 12.9% -- 10.7%
Market Correlations
versus...BetaR-squared
S&P 5000.9288%
MSCI EAFE0.9484%
MSCI Emg Mkts0.6848%
Liquidity Measures
Avg. volume (000)60
Turnover0.3%
Avg. Bid/Ask (% of price)0.06%
ADV of underlying (mns)$105,836
Technical Indicators
Recent close$40.55
30d moving avg.$36.02
Annualized volatility17.4%
Relative strength (RSI)75
Short interest (ETF)0.3%
Short interest (underlying)2.7%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Risk and Returns: JVAL vs. Comps (1 YR)

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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 --%
1.3 13.5 2.0 2.4% --
Based on closing prices from 4/11/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
JVAL



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™

JVAL

8.2%

Cat. Avg

5.7%

Fund Category: US Equities

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™8.2%
Recommendation

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.

Category Overview
There are 887 funds in the US Equities category, with an average ALTAR Score™ of 5.7% and a standard deviation of 2.7%. JVAL's ALTAR Score™ is approximately 0.9 standard deviations above the category average. This places JVAL in the 82nd percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

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



Recent Trends


Breakdown

 

Market Activity
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Volume
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Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
JVAL 12.0 5.7 17.7
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .
Fundamental data for individual fund constituents sourced from FactSet Research Systems.