A sound investment process and strong management team underpin JPMorgan International Value ETF's Morningstar Medalist Rating of Silver. The portfolio maintains a sizable cost advantage over competitors, priced within the cheapest fee quintile among peers.  

 The strategy's effective investment philosophy supports an Above Average Process Pillar rating. Independent of the rating, analysis of the strategy's portfolio shows it has maintained an overweight in momentum exposure and volatility exposure compared with category peers. Momentum exposure is attributed to holding stocks currently on a winning streak and selling those that are on a downtrend. And high volatility exposure is rooted in stocks that have a higher standard deviation of returns. The management team's considerable industry experience earns it an Above Average People Pillar rating. The strategy's parent organization earns the firm an Above Average Parent Pillar rating, and this rating is inherited from vehicles belonging to the same branding entity and is indirectly assigned by an analyst.

Analyst Rating

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ING Group 6.2 % Perpetual Debt Secs 2003-Without Fixed Called for red.on 16.10.17 at USD 25

Morningstar's evaluation of this security's process aims to determine the likelihood that it will outperform its Morningstar Category index on a risk-adjusted basis over the long term. Jpmorgan International Value ETF earns an Above Average Process Pillar rating. 

The predominant contributor to the rating is the parent firm's five-year risk-adjusted success ratio of 56%. The measure indicates the percentage of a firm's funds that survived and outperformed their respective category's median Morningstar Risk-Adjusted Return for the period. The parent firm's impressive risk-adjusted performance, as shown by its average 10-year Morningstar Rating of 3.3 stars, also contributes to the process. Lastly, the process is limited by being an actively managed strategy. Historical data, such as Morningstar's Active/Passive Barometer, finds that actively managed funds have generally underperformed their passive counterparts, especially over longer time horizons.

 This strategy leans toward smaller, more value-oriented companies compared with its average peer in the Foreign Large Value Morningstar Category. Looking at additional factor exposure, this strategy has consistently had exposure to high-momentum stocks compared with Morningstar Category peers over the past few years. Momentum strategies wager that market outperformers will continue to outperform, and laggards will continue to lag. Higher exposure to the former could mean the managers are overweighting stocks on winning streaks. In recent months, the strategy was more exposed to the Momentum factor compared with its Morningstar Category peers as well. This strategy also has had an overweight bias to the volatility factor over these years, meaning it has owned companies that have a higher historical standard deviation of returns. Such exposure tends to pay off when markets are hot and to be costly when they are not. Compared with category peers, the strategy also had more exposure to the Volatility factor in the most recent month. Given the high trading volume of holdings, this fund also holds highly liquid assets. More-liquid assets contribute to more-flexible exit strategies without price changes and tend to be a ballast during market selloffs. For example, if the portfolio faces successive redemptions in a short period of time, it will be less likely to suffer from a significant loss. In recent months, however, the strategy had less Liquidity factor exposure over its peers. More information on a fund and its respective category's factor exposure can be found in the Factor Profile module within the Portfolio section. 

 The portfolio is overweight in financial services and energy relative to the category average by 10.9 and 4.4 percentage points, respectively. The sectors with low exposure compared to category peers are consumer defensive and healthcare, underweight the average by 7.0 and 4.5 percentage points of assets, respectively. The strategy owns 315 securities and is similarly diversified as peers, with 12.4% of portfolio assets concentrated within the top 10 holdings. And in closing, in terms of portfolio turnover, on a year-over-year basis, 4% of the fund's holdings have turned over, whether through increasing, decreasing, or changing a position.

Above Average

Process

Jpmorgan International Value ETF earns an Above Average People Pillar rating. The most significant contributor to the rating is its parent firm's five-year success ratio of 56%. The measure indicates the percentage of a firm's funds that survived and beat their respective category's median return for the period. The depth of the portfolio management team also contributes to the rating. With five portfolio managers, the fund is well-staffed. Lastly, the rating is limited because none of the managers have over $1 million invested in the fund.


Michael Barakos, the longest-tenured manager on the strategy, boasts over 25 years of listed portfolio management experience. The average Morningstar Rating of the strategies they currently manage is 3.4 stars, demonstrating encouraging risk-adjusted performance.

People

A well-resourced, thoughtful, and disciplined steward of client assets, JPMorgan Asset Management maintains an Above Average Parent rating.
As of 2022, this investment stalwart manages more than USD 2.5 trillion in AUM. Composed of various global cohorts and diverse asset classes, the firm has more tightly integrated its capabilities in recent years, notably through the development of proprietary analytical and risk systems. Investment teams are robustly staffed and helmed by seasoned contributors. The firm’s strategies tend to produce reliable portfolios, and several flagship offerings are Morningstar Medalists. Manager incentives align with fundholders'; compensation reflects longer-term performance factors, and portfolio managers invest in the firm’s strategies as part of their compensation plans. 
The firm’s funds tend to be well-priced, but they aren’t as competitive as many highly regarded peers of similar scale. Recent product launches include thematic and single-country strategies, both of which carry the potential for volatile performance and flows, along with misuse by investors. The firm remains intrepid when it comes to developing an environmental, social, and governance-focused framework and continues to move into other areas such as direct indexing through its 55iP acquisition and China through its joint venture, but these complicated initiatives take time to assess any real and lasting effect.

Parent

JPMorgan International Value ETF

Jive is the largest and fastest growing independent vendor in the Social Business Software market. Jive allows companies to engage employees, customers, and the social web.  Just as social technologies have changed their personal lives, Social Business is changing how enterprises get work done.   The company was founded in 2001, with its headquarters in Palo Alto, CA and offices in Portland, OR; Boulder, CO; Brentford, United Kingdom; and Frankfurt, Germany.  Jive combines the power of community software, collaboration software, social networking software, and social media monitoring offerings into an integrated platform.  The flagship product is [Jive Engage](http://www.jivesoftware.com/products). Previous products by Jive include [Clearspace](http://www.jivesoftware.com/beyond/clearspace), [Jive Forums](http://www.jivesoftware.com/beyond/forums), and the now open source [Openfire](http://www.igniterealtime.org) & [Spark](http://www.igniterealtime.org/projects/spark/index.jsp).   The company is focused on solutions to increase team and work productivity. Jive makes it easy for groups to brainstorm, share ideas and see what everyone is working on. The product includes team member blogs, wiki-docs for group editing and discussion tools. Recent versions include video, analytics, and social media monitoring.  Jive also helps companies like Intel create highly-interactive online communities. Intel created [Open Port](http://communities.intel.com/openport/index.jspa) so their product and technology experts could communicate directly with the greater IT community. Other Jive customers include VMware, National Instruments, NetApp, SAP, Embarq, ManTech, Linden Lab and [many others](http://www.jivesoftware.com/customers).  Jive is backed by [Sequoia Capital](/financial-organization/sequoia-capital) and [KPCB](/financial-organization/kleiner-perkins-caufield-byers).

JIVE seeks long-term capital appreciation through an active management that focuses on securities with value characteristics and consideration of ESG factors. The fund invests in stocks of any market capitalization in both developed and emerging markets, excluding the US.

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The past week saw a spike in ETF launches, with 19 new funds debuting.

This Week in ETFs: Launches Rebound After Holiday Week

JPMorgan Chase & Co

Funds seek to deliver JPM active management expertise and risk controls through the ETF structure NEW YORK , Sept. 14, 2023 /PRNewswire/ -- J.P.

J.P. Morgan Asset Management Launches Two Active ETFs: JGLO and JIVE

News for JPMorgan International Value ETF ETF (JIVE)