J.P. Morgan Asset Management rolled out five domestic single factor equity exchange-traded funds on Thursday that each track a specialized proprietary index derived from the Russell 1000 Index, hold 200 to 400 stocks and are rebalanced quarterly. In addition, they all sport an expense ratio of 0.12 percent.
The lineup of new funds comprise the following:
• J.P. Morgan U.S. Value Factor ETF (JVAL) selects constituents based on various valuation measurements.
• J.P. Morgan U.S. Quality Factor ETF (JQUA) holds companies based on their quality as measured by diversified definitions of profitability, solvency and earnings quality.
• J.P. Morgan U.S. Momentum Factor ETF (JMOM) focuses its exposure on trending stocks based on their risk-adjusted return momentum.
• J.P. Morgan U.S. Minimum Volatility ETF (JMIN) uses a rules-based risk allocation and stock selection process in an effort to deliver lower volatility while maintaining diversification across sectors and securities.
• J.P. Morgan U.S. Dividend ETF (JDIV) provides equity exposure with an emphasis on dividend income while maintaining diversification risk across sectors and securities.
J.P. Morgan Asset Management's ETF suite has eighteen products with more than $2 billion in assets under management. According to the company, it ranked eighth among ETF managers in smart beta asset flows last year.