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
US
EQUITY
Rules-Based
MANAGEMENT STYLE
686.5 M
ASSETS UNDER MGMT
12 bp
EXPENSES
Fund Basics
| Fund sponsor | JPMorgan |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Nov 08, 2017 |
| Assets (mns) | $687 |
| Expense ratio | 12 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Fundamental |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| APPLE INC | 2.0 % |
| UNITEDHEALTH GROUP INC | 1.9 % |
| MICROSOFT CORP | 1.8 % |
| ALPHABET INC. CLASS A | 1.8 % |
| META PLATFORMS INC | 1.8 % |
| BROADCOM INC. | 1.6 % |
| JOHNSON & JOHNSON | 1.4 % |
| MERCK & CO. INC. | 0.9 % |
| SALESFORCE.COM INC | 0.9 % |
| ADOBE SYSTEMS INC | 0.9 % |
Constituent Breakdown
| Number of holdings | 378 |
| Herfindahl-Hirschman Index | 52 |
| Wgt avg mkt cap (mns) | $292,418 |
| Large cap (>$10bn) | 80.3% |
| Mid cap ($2-10bn) | 19.0% |
| Small cap (<$2bn) | 0.6% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 95.4 % |
 |
BRITAIN | 1.5 % |
 |
IRELAND | 1.2 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 20.0% | 29.0% | 17.1% | 10.5% | 12.8% | -- | 11.3% | Volatility | 12.9% | 13.3% | 14.6% | 17.2% | 22.1% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.95 | 89% |
| MSCI EAFE | 0.90 | 79% |
| MSCI Emg Mkts | 0.67 | 43% |
Liquidity Measures
| Avg. volume (000) | 40 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.06% |
| ADV of underlying (mns) | $108,491 |
Technical Indicators
| Recent close | $43.59 |
| 30d moving avg. | $45.10 |
| Annualized volatility | 17.8% |
| Relative strength (RSI) | 52 |
| Short interest (ETF) | 0.2% |
| 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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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. JVAL |
Expenses vs. JVAL |
ALTAR Score™ vs. JVAL |
|---|---|---|---|---|
| ROUS | Hartford Multifactor US Equity ETF | 43.9% | +7 bp | -1.2% |
| FNDX | Schwab Fundamental US Large Co. Index ETF | 41.5% | +13 bp | -0.9% |
| FNDB | Schwab Fundamental US Broad Market Index ETF | 40.2% | +13 bp | -0.9% |
| PRF | Invesco FTSE RAFI US 1000 ETF | 40.0% | +27 bp | -0.9% |
| JQUA | JPMorgan U.S. Quality Factor ETF | 39.8% | 0 bp | -2.1% |
| VLU | SPDR S&P 1500 Value Tilt ETF | 39.1% | 0 bp | -1.1% |
| IUS | Invesco RAFI Strategic US ETF | 38.7% | +7 bp | -1.0% |
| JHML | John Hancock Multifactor Large Cap ETF | 38.5% | +17 bp | -2.5% |
| EPS | WisdomTree U.S. LargeCap Fund | 37.9% | -4 bp | -2.0% |
| DEUS | Xtrackers Russell US Multifactor ETF | 37.8% | +5 bp | -0.7% |
Risk and Returns: JVAL 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 | --% |
Based on closing prices from 12/20/2024
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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
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 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™
JVAL
8.0%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 977 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.6%. 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.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
JVALSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| JVAL (12 bp) Percentile rank | 15 |
Peer Group Expense Ratio Distribution
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. | 30.3 | 14.0 | 44.3 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .