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JPM plans five single factor ETFs

JPM plans five single factor ETFs

JPMorgan Asset Management is to launch five factor-based exchange-traded funds (ETFs), according to a Securities and Exchange Commission filing.

Each fund will focus on a single factor. The ETFs are:

  • JPMorgan US Dividend ETF 
  • JPMorgan US Minimum Volatility ETF 
  • JPMorgan US Momentum Factor ETF 
  • JPMorgan US Quality Factor ETF 
  • JPMorgan US Value Factor ETF

Yazann Romahi, Jonathan Msika, Joe Staines and Steven (Yegang) Wu will be the portfolio managers on the funds.

Each fund tracks their proprietary JPMorgan index, which focuses on a respective single factor within sectors including financials, technology, consumer services, healthcare, industrials, consumer goods, energy, materials, telecommunication and utilities.

The dividend fund identifies US equity securities within each sector that have a high dividend yield over a rolling 12-month period.

The minimum volatility fund seeks to distribute risk among sectors and stocks in order to minimize the overall portfolio volatility based upon the parameters of the rules-based process.

The momentum fund is comprised of US equity securities selected to represent positive momentum factor characteristics.

The quality fund employs a rules based proprietary selection process that utilizes a quality factor to identify higher quality companies as measured by profitability, quality of earnings, and solvency.

The value fund utilizes a relative valuation factor to identify companies with attractive prices relative to their fundamental characteristics of price to book, price to earnings, dividend yield and free cash flow.

JPMorgan currently offers a suite of 13 ETFs which includes six funds in the global equity series, three in US equity, three fixed income ETFs and one that invests in alternatives.

A JPMorgan spokeswoman confirmed the contents of the filing but declined to comment further.

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