JGLO Beats Its Benchmark And Other Global Equity ETFs

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Megapixel8/iStock via Getty Images JGLO strategy JPMorgan Global Select Equity ETF (NASDAQ:JGLO) is an actively managed ETF launched on 09/13/2023. It has 74 holdings, a 30-day SEC yield of 1.09% and ...

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It has 74 holdings, a 30-day SEC yield of 1.09% and ...</p>\n\n<a href=\"https://seekingalpha.com/article/4703964-jglo-beats-benchmark-other-global-equity-etfs\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"URTH","symbol_name":"iShares MSCI World Index Fund","start_time":0,"source_url":"https://seekingalpha.com/article/4703964-jglo-beats-benchmark-other-global-equity-etfs","article_id":"2451635364","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1489238724/image_1489238724.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2451635364","pubTimestamp":1720968288,"sourceInfo":{"source_id":"seekingalpha_fund","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Megapixel8/iStock via Getty Images JGLO strategy JPMorgan Global Select Equity ETF (NASDAQ:JGLO) is an actively managed ETF launched on 09/13/2023. It has 74 holdings, a 30-day SEC yield of 1.09% and ","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"URTH":"iShares MSCI World Index Fund","FDN":"First Trust Dow Jones Internet I","TMFG":"Motley Fool Global Opportunities ETF","BK4550":"红杉资本持仓","BK4588":"碎股","GLOV":"Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF","JGLO":"JPMorgan Global Select Equity ETF","AVGE":"Avantis All Equity Markets ETF","BK4585":"ETF&股票定投概念","DWLD":"Davis Select Worldwide ETF","FGD":"First Trust DJ Global Select Dividend Index Fund"},"translate_title":"JGLO击败其基准和其他全球股票ETF","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AVGE":1,"DWLD":1,"FGD":1,"GLOV":1,"JGLO":1,"TMFG":1,"URTH":1,"FDN":0.9},"content_text":"Megapixel8/iStock via Getty Images JGLO strategy JPMorgan Global Select Equity ETF (NASDAQ:JGLO) is an actively managed ETF launched on 09/13/2023. It has 74 holdings, a 30-day SEC yield of 1.09% and a total expense ratio of 0.47%. As described by JPMorgan, JGLO invests in “companies that are attractively valued, possess strong free cash flow and have the potential for sustained earnings growth”. The fund “Seeks to consistently outperform the MSCI World Index while effectively managing risks across sectors and regions”. JGLO primarily invests in developed markets, although it may occasionally select companies in emerging markets. Moreover, “the Fund may, but does not currently expect to, hedge its currency exposure”. The portfolio turnover rate was 28% in the most recent fiscal year. This article will use as a benchmark the MSCI World Index, represented by iShares MSCI World ETF (URTH). Portfolio About 92% of asset value is invested in large and mega-cap companies. The portfolio is overweight in the U.S. (69.7% vs. 71.6% for the benchmark), followed by the U.K. (5.2%) and France (4.4%). The aggregate weight of Taiwan and Hong Kong is 4.4%, so direct exposure to geopolitical and regulatory risks related to China is low. The next chart lists the countries weighting more than 1%, excluding the U.S. for readability.   JGLO geographical allocation ex-US (chart: author; data: JPMorgan) The heaviest sector is technology with 28% of assets. It is followed by financials and consumer discretionary, both close to 13%. Other sectors are below 10%. Compared to the benchmark, JGLO underweights mostly communication services.   JGLO sector breakdown (chart: author; data: JPMorgan, iShares) The top 10 holdings, listed in the next table, represent 40.6% of asset value. The four heaviest names weigh over 5%. Risks related to other individual companies are low to moderate.   U.S. Ticker Name Weight% EPS growth %TTM P/E TTM P/E fwd Yield%   MSFT Microsoft Corp. 7.46% 25.11 39.40 38.47 0.66   AAPL Apple, Inc. 5.92% 9.26 35.39 34.47 0.44   AMZN Amazon.com, Inc. 5.50% 763.59 54.78 42.52 0   NVDA NVIDIA Corp. 5.38% 788.51 74.52 47.12 0.03   META Meta Platforms, Inc. 3.52% 115.95 29.45 25.34 0.39   MA Mastercard, Inc. 3.34% 25.70 34.69 30.54 0.60   OTCPK:NSRGY* Nestlé S.A. 2.55% 31.09 22.26 18.98 3.13   OTCPK:SHECY* Shin-Etsu Chemical Co., Ltd. 2.43% 100.04 23.51 N/A 1.53   OTCPK:LVMUY* LVMH Moët Hennessy - Louis Vuitton SE 2.33% 11.34 23.55 22.89 1.81   OTCPK:MURGY* Münchener Rückversicherungs-Gesellschaft AG 2.21% N/A N/A 10.13 3.19   Click to enlarge *The fund holds shares in the primary exchange. Fundamentals JGLO is slightly more expensive than URTH regarding valuation ratios, and it shows a higher earnings growth rate, as reported in the next table.     JGLO URTH   Price/Earnings 24.86 22.63   Price/Book 4.32 3.29   Price/Sales 3.46 2.41   Price/Cash Flow 16.89 15.09   Earnings Growth 26.45% 22.60%   Sales Growth 9.77% 9.07%   Cash Flow Growth 9.45% 10.11%   Click to enlarge Source: Fidelity website Performance Since inception 10 months ago, JGLO has met its objective of beating the MSCI World Index, with a 5% excess return. Nevertheless, price history is too short to evaluate the long-term potential of the strategy.   JGLO vs URTH since 9/14/2023 (Seeking Alpha) Competitors The next table compares characteristics of JGLO and five of the most popular global equity ETFs:  Goldman Sachs ActiveBeta World Low Vol Plus Equity (GLOV) First Trust Dow Jones Global Select Dividend Index Fund (FGD) Motley Fool Global Opportunities ETF (TMFG) Avantis All Equity Markets ETF (AVGE) Davis Select Worldwide ETF (DWLD)      JGLO GLOV FGD TMFG AVGE DWLD   Inception 9/13/2023 3/15/2022 11/21/2007 6/17/2014 9/27/2022 1/11/2017   Expense Ratio 0.47% 0.25% 0.56% 0.85% 0.23% 0.63%   AUM $3.48B $918.54M $526.91M $439.92M $379.45M $311.87M   Avg Daily Volume $12.17M $2.01M $1.51M $430.05K $1.76M $341.12K   Holdings 74 371 106 42 15 40   Top 10 40.60% 15.58% 17.75% 40.10% 95.52% 49.36%   Turnover 28.00% 31.00% 35.00% 4.00% 2.00% 15.00%   Click to enlarge They all include the U.S. in their portfolios. JGLO is the largest of these funds in assets under management, and the most liquid in dollar volume. Its expense ratio is average. The next chart plots total returns since 9/14/2023. JGLO is ahead of the pack, beating the second by 8.2% in 10 months.   JGLO vs. competitors, since 10/25/2017 (Seeking Alpha) Takeaway JPMorgan Global Select Equity ETF is an actively managed ETF in global stocks focused on value, free cash flow and earnings growth. JGLO is overweight in U.S. large companies and information technology. Its 10-month history is too short to assess the strategy, but it is promising: it has met its objective of beating the MSCI World Index, and has also outperformed five of the most popular global equity ETFs.  Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. 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