JVAL

JPMorgan U.S. Value Factor

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


8.4%

ALTAR Score™
Trend in ALTAR Score™
Percentile: 87th

SPECULATIVE

Recommendation
Fund Basics
Fund sponsorJPMorgan
CategoryUS Equities
Asset classEquity
Websitelink...
Inception dateNov 08, 2017
Assets (mns)$57
Expense ratio12 bp
CurrencyUSD
Constituent Breakdown
No. of constituents284
Herfindahl-Hirschman Index 71
Wgt avg mkt cap (mns)$112,752
Large cap (>$10bn)74.0%
Mid cap ($2-10bn)25.9%
Small cap (<$2bn)0.1%
Developed mkts.99.8%
Emerging mkts.0.2%
Fund Structure
RegulationOpen-Ended Fund
DistributionsAnnually
Taxation1099
Stock selectionFundamental
WeightingProprietary
Smart-betaYes
Derivatives-basedNo
Options availableNo
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
MICROSOFT CORP 2.1 %
INTEL CORP 2.0 %
CISCO SYSTEMS INC 1.9 %
PFIZER INC 1.8 %
WELLS FARGO & CO 1.8 %
PROCTER & GAMBLE CO/THE 1.8 %
JOHNSON & JOHNSON 1.7 %
APPLE INC 1.7 %
EXXON MOBIL CORP 1.7 %
CHEVRON CORP 1.6 %
Sector Breakdown
Country Exposure
UNITED STATES 94.5 %
IRELAND 1.8 %
BERMUDA 0.9 %
NETHERLANDS 0.4 %
SWITZERLAND 0.3 %
Historical Performance


Standardized Annual Returns (as of 02/28/2019)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
12.1% 2.7% 0.0% 0.0% 0.0% 0.0% 3.0%
Market Correlations
versus...BetaR-squared
S&P 5000.9896%
MSCI EAFE0.9872%
MSCI Emg Mkts0.6955%
Liquidity Measures
Avg. volume (000)6
Turnover0.3%
Avg. Bid/Ask (% of price)0.15%
ADV of underlying (mns)$75,152
Technical Indicators
Recent close$25.86
30d moving avg.$25.97
Annualized volatility15.6%
Relative strength (RSI)60
Short interest (ETF)0.1%
Short interest (underlying)0.0%
Distributions
Total Cost of Ownership Detail
  JVAL Difference
Fund expenses -- --
Bid/Ask spread -- --
Round-trip commission -- -- --
Total Cost of Ownership -- -- --

Total Cost of Ownership over Time


Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

Alternative ETFs
Ticker Fund Name Overlap
vs. JVAL
Expenses
vs. JVAL
ALTAR Score™
vs. JVAL
OVLU Oppenheimer Russell 1000 Value Factor 46.6% +7 bp +0.1%
VTV Vanguard Value ETF 46.2% -7 bp -1.1%
IWD iShares Russell 1000 Value 45.6% +8 bp -1.4%
VONV Vanguard Russell 1000 Value 45.6% 0 bp -1.4%
FNDX Schwab Fundamental Large Cap 44.8% +13 bp -1.8%
DIVB iShares U.S. Dividend & Buyback 44.0% +13 bp -1.7%
IUS Invesco Strategic US 43.6% +7 bp -1.4%
MGV Vanguard Mega Cap 300 Value 43.1% -5 bp -1.3%
PRF Invesco FTSE-RAFI U.S. 1000 43.0% +27 bp -1.7%
SCHV Schwab U.S. Large-Cap Value 43.0% -8 bp -1.2%
FNDB Schwab Fundamental Broad Mkt 42.5% +13 bp -1.8%
VYM Vanguard High Dividend Yield ETF 42.3% -12 bp -1.2%
DLN WisdomTree Large Cap Dividend 41.9% +16 bp -1.7%
DTD WisdomTree Total Dividend 41.8% +16 bp -1.5%
VLU SPDR S&P 1500 Value Tilt 41.5% +1 bp -1.1%
DGRO iShares Core Dividend Growth 41.5% -4 bp -1.8%
FDRR Fidelity Dividend for Rising Rates 41.2% +17 bp -0.5%
OYLD Oppenheimer Russell 1000 Yield Factor 40.8% +7 bp -1.4%
IWX iShares Russell Top 200 Value 40.7% +8 bp -1.4%
FVAL Fidelity Value Factor 40.1% +17 bp +0.6%

Content on this tab for Individual & Professional subscribers only

Results & Estimates
  2014 2015 2016 2017 2018 2019E 2020E  
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

Content on this tab for Individual & Professional subscribers only

Valuation Metrics
  2018 2019E 2020E
Price-to-sales --x --x --x
Price-to-earnings --x --x --x
Price-to-cash flow --x --x --x
Price-to-growth --x --x --x
Price-to-book value --x --x --x
Yield --% --% --%

Some content on this tab for Individual & Professional subscribers only

ETF Research Center Fund Rating

Our measure of an ETF's overall investment merit

ALTAR Score™

JVAL

8.4%

Cat. Avg

5.8%

Fund Category: US Equities

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™8.4%
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 658 funds in the US Equities category, with an average ALTAR Score™ of 5.8% and a standard deviation of 2.2%. JVAL's ALTAR Score™ is approximately 1.2 standard deviations above the category average. This places JVAL in the 87th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

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



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Where to Trade JVAL
Commission
on JVAL1
# of Commission
-free ETFs2
 
$0.00 2,326
$0.00 2,102
$0.00 500
$1.00 54
$4.95 357
$4.95 114
$6.95 308
$6.95 291
Notes: 1. Commission of $0.00 indicates the fund is on the firm's recently published "Commission Free" list. Non-zero commissions represent each firm's standard commission rate based on our periodic review of firms' websites. Your commission may vary depending on account type and other factors. "Commission Free" ETF trades may be subject to additional requirements including minimum holding periods. 2. Not a complete list. Subject to change.
Portfolio composition files licensed from DTCC. Fundamental data for individual fund constituents sourced from FactSet Research Systems.