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Name

As of 05/07/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

JPMorgan U.S. Value Factor ETF

JVAL | ETF

$40.52

$824 M

1.42%

$0.57

0.12%

Vitals

YTD Return

5.4%

1 yr return

24.3%

3 Yr Avg Return

5.8%

5 Yr Avg Return

11.8%

Net Assets

$824 M

Holdings in Top 10

18.9%

52 WEEK LOW AND HIGH

$40.4
$32.85
$41.62

Expenses

OPERATING FEES

Expense Ratio 0.12%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 05/07/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

JPMorgan U.S. Value Factor ETF

JVAL | ETF

$40.52

$824 M

1.42%

$0.57

0.12%

JVAL - Profile

Distributions

  • YTD Total Return 5.4%
  • 3 Yr Annualized Total Return 5.8%
  • 5 Yr Annualized Total Return 11.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.01%
DIVIDENDS
  • Dividend Yield 1.4%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    JPMorgan U.S. Value Factor ETF
  • Fund Family Name
    JPMorgan Funds
  • Inception Date
    Nov 08, 2017
  • Shares Outstanding
    17200000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Yazann Romahi

Fund Description

The Fund seeks investment results that closely correspond, before fees and expenses, to the performance of the JP Morgan US Value Factor Index (the Underlying Index). The Fund will invest at least 80% of its Assets in securities included in the Underlying Index. “Assets” means net assets, plus the amount of borrowing for investment purposes. The Underlying Index is comprised of U.S. equity securities selected to represent value factor characteristics. The Fund’s adviser is the sponsor of the Underlying Index and developed the proprietary factors on which the Underlying Index is based. FTSE International Limited, the Benchmark Administrator, administers, calculates and governs the Underlying Index. Holdings in the Underlying Index are selected primarily from the constituents of the Russell 1000 Index, a larger Russell Index, which is comprised of large- and mid-cap equity securities of companies located in the United States. The rules-based proprietary selection process utilizes a relative valuation factor to identify companies with attractive valuations. The Underlying Index is diversified across the following sectors on a market capitalization weighted basis: basic materials, consumer discretionary, consumer staples, energy, financials, health care, industrials, real estate, technology, telecommunication and utilities. Within each sector, individual equity securities are also weighted to ensure diversification. The Fund’s securities are large- and mid-cap equity securities of U.S. companies, including common stock, preferred stock and real estate investment trusts. As of January 31, 2024, there were 350 companies represented in the Underlying Index and the market capitalizations of those companies ranged from $353 million to $2.96 trillion. The number of components and the market capitalizations of the companies are subject to change over time.UNDERLYING INDEX CHARACTERISTICValue — Targets equity securities with attractive prices relative to their sector peers based on fundamental characteristics of book yield, earnings yield, dividend yield and cash flow yield.The Fund, using a “passive” or indexing investment approach, attempts to closely correspond to the performance of the Underlying Index. Unlike many actively-managed investment companies, the Fund does not seek to outperform the Underlying Index and does not seek temporary defensive positions when markets decline or appear over-valued.The Fund’s intention is to replicate the constituent securities of the Underlying Index as closely as possible. “Replication” is a passive indexing strategy in which a fund invests in substantially all of the securities in its underlying index in approximately the same proportions as the underlying index. However, under various circumstances, it may not be possible or practicable to purchase or hold all of, or only, the constituent securities in their respective weightings in the Underlying Index. In these circumstances, the Fund may utilize a “representative sampling” strategy whereby securities are chosen in order to attempt to approximate the investment characteristics of the constituent securities. To the extent the Fund uses a representative sampling strategy, it would hold a significant number of the constituent securities of the Underlying Index, but may not track the Underlying Index with the same degree of accuracy as would an investment vehicle replicating the entire Underlying Index. Even when the Fund is utilizing representative sampling, it must invest at least 80% of its Assets in securities included in the Underlying Index. The Fund’s portfolio will be rebalanced quarterly in accordance with the quarterly rebalancing of the Underlying Index.The Fund may invest up to 10% of its assets in exchange-traded futures contracts to seek performance that corresponds to the Underlying Index.To the extent that the securities in the Underlying Index are concentrated in one or more industries or groups of industries, the Fund may concentrate in such industries or groups of industries. As of January 31, 2024, a significant portion of the Underlying Index is represented by securities of companies in the technology sector.
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JVAL - Performance

Return Ranking - Trailing

Period JVAL Return Category Return Low Category Return High Rank in Category (%)
YTD 5.4% -1.2% 15.1% 68.73%
1 Yr 24.3% -5.1% 39.5% 14.35%
3 Yr 5.8%* -5.3% 29.0% 45.75%
5 Yr 11.8%* -0.2% 43.7% 19.40%
10 Yr N/A* 1.1% 24.5% 68.88%

* Annualized

Return Ranking - Calendar

Period JVAL Return Category Return Low Category Return High Rank in Category (%)
2023 16.4% -24.9% 46.1% 6.97%
2022 -13.7% -64.7% 4.6% 65.21%
2021 28.7% -44.2% 57.5% 4.51%
2020 3.0% -23.2% 285.0% 21.28%
2019 24.9% -21.4% 48.5% 13.39%

Total Return Ranking - Trailing

Period JVAL Return Category Return Low Category Return High Rank in Category (%)
YTD 5.4% -1.2% 15.1% 68.73%
1 Yr 24.3% -5.1% 39.5% 14.35%
3 Yr 5.8%* -5.3% 29.0% 45.75%
5 Yr 11.8%* -0.2% 43.7% 19.40%
10 Yr N/A* 1.1% 24.5% N/A

* Annualized

Total Return Ranking - Calendar

Period JVAL Return Category Return Low Category Return High Rank in Category (%)
2023 19.5% -15.9% 46.7% 7.41%
2022 -11.6% -42.0% 8.5% 90.43%
2021 31.3% 3.6% 129.7% 7.91%
2020 6.3% -22.6% 304.8% 24.76%
2019 28.4% -12.7% 52.1% 20.66%

JVAL - Holdings

Concentration Analysis

JVAL Category Low Category High JVAL % Rank
Net Assets 824 M 1.09 M 163 B 50.22%
Number of Holdings 354 2 1683 5.64%
Net Assets in Top 10 139 M 420 K 33.9 B 60.93%
Weighting of Top 10 18.86% 4.8% 98.8% 92.67%

Top 10 Holdings

  1. JPMorgan Securities Lending Money Market Fund, Class Agency SL Shares 2.47%
  2. Broadcom, Inc. 2.31%
  3. Meta Platforms, Inc., Class A 2.28%
  4. Alphabet, Inc., Class A 2.02%
  5. Microsoft Corp. 2.02%
  6. Apple, Inc. 1.83%
  7. UnitedHealth Group, Inc. 1.78%
  8. Johnson Johnson 1.47%
  9. Merck Co., Inc. 1.45%
  10. Salesforce, Inc. 1.23%

Asset Allocation

Weighting Return Low Return High JVAL % Rank
Stocks 		99.79% 1.86% 108.42% 8.91%
Cash 		3.29% 0.00% 38.18% 17.72%
Other 		0.00% -1.68% 39.72% 29.01%
Preferred Stocks 		0.00% 0.00% 13.88% 49.91%
Convertible Bonds 		0.00% 0.00% 3.66% 47.39%
Bonds 		0.00% -1.92% 73.23% 48.94%

Stock Sector Breakdown

Weighting Return Low Return High JVAL % Rank
Technology 		24.71% 0.00% 54.02% 2.49%
Healthcare 		15.11% 0.00% 30.08% 73.36%
Consumer Cyclical 		11.21% 0.00% 22.74% 6.84%
Financial Services 		11.01% 0.00% 58.05% 94.94%
Industrials 		10.66% 0.00% 42.76% 59.15%
Communication Services 		7.26% 0.00% 26.58% 25.67%
Consumer Defense 		6.22% 0.00% 34.10% 77.44%
Energy 		4.74% 0.00% 54.00% 82.50%
Real Estate 		4.16% 0.00% 90.54% 32.95%
Utilities 		3.15% 0.00% 27.04% 68.83%
Basic Materials 		1.78% 0.00% 21.69% 81.97%

Stock Geographic Breakdown

Weighting Return Low Return High JVAL % Rank
US 		99.79% 1.86% 108.42% 8.82%
Non US 		0.00% 0.00% 26.07% 63.14%

JVAL - Expenses

Operational Fees

JVAL Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.12% 0.03% 14.82% 97.61%
Management Fee 0.12% 0.00% 1.50% 3.09%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% 27.60%

Sales Fees

JVAL Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 0.95% 5.00% N/A

Trading Fees

JVAL Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

JVAL Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 488.00% N/A

JVAL - Distributions

Dividend Yield Analysis

JVAL Category Low Category High JVAL % Rank
Dividend Yield 1.42% 0.00% 36.05% 53.35%

Dividend Distribution Analysis

JVAL Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Quarterly Annual

Net Income Ratio Analysis

JVAL Category Low Category High JVAL % Rank
Net Income Ratio 2.01% -1.51% 4.28% 15.30%

Capital Gain Distribution Analysis

JVAL Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Annually Annually

Distributions History

View More +

JVAL - Fund Manager Analysis

Managers

Yazann Romahi

Start Date

Tenure

Tenure Rank

Nov 08, 2017

4.56

4.6%

Yazann Romahi, PhD, CFA, managing director, is CIO for AM Solutions – Quantitative Solutions focused on managing and developing the firm's systematic and factor-based franchise across strategic beta and thematics. He is also responsible for leading the firm's Multi-Asset Quantitative Research capabilities. Prior to joining J.P. Morgan in 2003, Yazann worked as a research analyst at the Centre for Financial Research at the University of Cambridge and undertook consulting assignments for a number of financial institutions including Pioneer Asset Management, PricewaterhouseCoopers and HSBC.

Yegang(Steven) Wu

Start Date

Tenure

Tenure Rank

Nov 08, 2017

4.56

4.6%

Mr. Wu, an Analyst of JPMIM, has been a research analyst and portfolio manager in the Quantitative Beta Strategies Team since 2016. An employee since 2014, he previously was a quantitative analyst in the Quantitative Portfolio Strategies Team in JPMIM’s Multi-Asset Solutions Team from 2014 to 2016. Prior to joining JPMIM, Mr. Wu was completing his bachelor’s degrees in Mathematics and Actuarial Science from the University of Iowa until 2013 and his M.A. in Financial Mathematics at Columbia University from 2013 to 2014. During this time, he also worked from January to July 2013 as an Actuarial Analyst at Transamerica, focusing on hedging and pricing for variable annuity products.

Joe Staines

Start Date

Tenure

Tenure Rank

Nov 08, 2017

4.56

4.6%

Mr. Staines, Vice President of JPMIM and a CFA charterholder, has been a research analyst and portfolio manager in the Quantitative Beta Strategies Team since 2016. An employee since 2014, he previously was a quantitative analyst in the Quantitative Portfolio Strategies Team in JPMIM’s Multi-Asset Solutions Team from 2014 to 2016. Prior to joining JPMIM, he was completing his PhD in Computational Finance from University College London.

Aijaz Hussain

Start Date

Tenure

Tenure Rank

Nov 08, 2017

4.56

4.6%

Aijaz Hussain, vice president, is a portfolio analyst in the Quantitative Beta Strategies group, based in London. Prior to joining J.P. Morgan Asset Management in 2016, Aijaz worked as an Analytics Consultant at FactSet Research Systems. Aijaz graduated from Imperial College London with a BSc in Mathematics.

Alistair Lowe

Start Date

Tenure

Tenure Rank

Jan 06, 2021

1.4

1.4%

Mr. Lowe, Managing Director of JPMIM, senior portfolio manager in the Quantitative Beta Solutions Team, joined JPMIM in 2018. He was once a self-employed consultant and worked for AlphaSimplex, a quantitative liquid alternatives manager from Feb to Dec 2016. From 2010 to 2014 he was Executive Vice President and Chief Investment Officer, Global Equities, at State Street Global Advisors and was Head of the Investor Solutions Group which specializes in tax-efficient indexing and efficient implementation of active equity strategies for taxable institutional clients and high net worth individuals.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.05 86.59 8.06 16.42

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