JPIN seeks exposure to several historically outperforming factors, while diversifying risk across regions and sectors. Specifically, it filters for value, momentum, and quality factors, then assigns each security to one of 40 buckets4 regions x 10 sectors. Each bucket is weighted to contribute equal risk to the fund, based on historic volatility, holdings are equal-weighted within each bucket. It's the same methodology used by sibling JPGE, but with US and Canadian firms excluded. Consistent with its aims, the funds portfolio typically shows a bias toward smaller, value-oriented firms but with lower market risk than our benchmark. Sectors biases can be significant too, with defensive sectors typically emphasized. The funds portfolio will be rebalanced quarterly in accordance with the rebalancing of its underlying index.
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