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Trending ETFs

Name

As of 02/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$53.12

$5.58 B

7.72%

$4.10

0.35%

Vitals

YTD Return

7.1%

1 yr return

38.4%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$5.58 B

Holdings in Top 10

47.0%

52 WEEK LOW AND HIGH

$53.0
$41.53
$53.12

Expenses

OPERATING FEES

Expense Ratio 0.35%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 02/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$53.12

$5.58 B

7.72%

$4.10

0.35%

JEPQ - Profile

Distributions

  • YTD Total Return 7.1%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 7.7%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    JPMorgan Nasdaq Equity Premium Income ETF
  • Fund Family Name
    JPMorgan Funds
  • Inception Date
    May 04, 2022
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Hamilton Reiner

Fund Description

The investment objective of the Fund is to seek current income while maintaining prospects for capital appreciation. The Fund seeks to achieve this objective by (1) creating an actively managed portfolio of equity securities comprised significantly of those included in the Fund’s primary benchmark, the Nasdaq-100 Index® (the Benchmark), and (2) through equity-linked notes (ELNs), selling call options with exposure to the Benchmark. The resulting Fund is designed to provide investors with performance that captures a majority of the returns associated with the Benchmark, while exposing investors to lower volatility than the Benchmark and also providing incremental income. The Fund is managed in a way that seeks, under normal circumstances, to provide monthly distributions at a relatively stable level. Under normal circumstances, the Fund invests at least 80% of its Assets in equity securities (80% Policy). “Assets” means net assets plus the amount of borrowings for investment purposes. In calculating the 80% Policy, the Fund’s equity investments will include common stocks and ELNs, as well as other equity securities.In implementing the Fund’s strategy, the Fund invests significantly in the equity securities of companies included in the Benchmark (which includes both large cap and mid cap companies). The Fund may also invest in other equity securities not included in the Benchmark. The Fund may receive income to the extent it invests in equity securities of companies that pay dividends; however, securities are not selected based on anticipated dividend payments. Currently, many of the equity securities in the Fund’s portfolio will be technology companies or companies that rely heavily on technological advances.The Fund seeks a lower volatility level than the Benchmark. Volatility is one way to measure risk and refers to the variability of the Fund’s or the market’s returns. If the Fund is successful in providing lower volatility, then the value of the Fund’s portfolio will fluctuate less than the Benchmark over a full market cycle (typically, a 3-5 year time horizon).In order to generate income, the Fund may invest up to 20% of its net assets in ELNs. ELNs are structured as notes that are issued by counterparties, including banks, broker-dealers or their affiliates, and that are designed to offer a return linked to the underlying instruments within the ELN. ELNs in which the Fund invests are derivative instruments that are specially designed to combine the economic characteristics of the Benchmark and written call options in a single note form and are not traded on an exchange. The options underlying the ELNs will be based on the Benchmark or on exchange-traded funds (ETFs) that replicate the Benchmark. Selling a call option entitles the seller to a premium equal to the value of the option at the time of trade. The ELNs owned by the Fund are structured to use a covered call strategy and have short call positions embedded within them. When the Fund purchases the ELN from the issuing counterparty, the Fund is entitled to the premium generated by the short call position within the ELN. Therefore, the ELNs provide recurring cash flow to the Fund based on the premiums received from selling the call options and are an important source of the Fund’s return. When the Fund sells call options within an ELN, it receives a premium but limits its opportunity to profit from an increase in the market value of either the underlying Benchmark or ETF to the exercise price (plus the premium received). The maximum potential gain on an underlying instrument will be equal to the difference between the exercise price and the purchase price of the underlying Benchmark or ETF at the time the option is written, plus the premium received. Investing in ELNs may also reduce the Fund’s volatility because the income from the ELNs would reduce potential losses incurred by the Fund’s equity portfolio. The ELNs are reset periodically to seek to better capitalize on current market conditions and opportunities; these resets assist the Fund in seeking to provide relatively stable returns.The Fund invests in a non-diversified portfolio of securities.The Fund will not invest more than 25% of the value of its total assets in the securities of companies conducting their principal business activities in the same industry, except that, to the extent that an industry represents 20% or more of the Fund’s benchmark at the time of investment, the Fund may invest up to 35% of its total assets in that industry.Investment Process: In managing the equity portion of the Fund’s portfolio, the adviser employs a data science driven investment approach that combines research, data insights, and risk management. The adviser defines data science as the discipline of extracting useful insights from collections of information. The adviser utilizes proprietary techniques to process, analyze, and combine a wide variety of data sources, including the adviser’s multi-decade history of proprietary fundamental research, company fundamentals, and alternative data. The adviser defines alternative data as content that is not published by the issuer of the security, but that nevertheless could contain unique information regarding the financial prospects of the company. Such alternative data sources may include, but are not limited to, global supply chain data, news feeds, and social media. The adviser combines insights derived from these sources to forecast the financial prospects of each security. These forecasts are used to identify securities with attractive valuations that are priced favorably relative to their associated levels of risk. Security-level forecasts are then combined through a proprietary security selection process, constructing a portfolio that maximizes expected future financial performance while controlling for key risks to the underlying companies’ businesses identified by the adviser as part of its analysis. The adviser assesses key risk by analyzing potential events or conditions that may have a negative impact on the adviser’s valuation of a particular security. Such key risks may include, but are not limited to, sensitivity to changes in macroeconomic conditions, competitive risks from existing companies or new entrants, and operational risks related to the companies’ business models. The adviser continuously evaluates the efficacy of the sources of information included within the investment process, and seeks to identify new data sources that will be additive to the adviser’s forecasts and portfolio construction.As part of its investment process, the adviser seeks to assess the impact of environmental, social and governance (ESG) factors on many issuers in the universe in which the Fund may invest. The adviser’s assessment is based on an analysis of key opportunities and risks across industries to seek to identify financially material issues with respect to the Fund’s investments in securities and ascertain key issues that merit engagement with issuers. These assessments may not be conclusive,and securities of issuers that may be negatively impacted by such factors may be purchased and retained by the Fund while the Fund may divest or not invest in securities of issuers that may be positively impacted by such factors.The adviser may sell a security for several reasons. A security may be sold due to a change in the company’s fundaments or if the adviser believes the security is no longer attractively valued relative to its associated levels of risk. Investments may also be sold if the adviser identifies a stock that it believes offers a better investment opportunity.The Fund’s investment strategies may involve active and frequent trading resulting in high portfolio turnover.Nasdaq®, Nasdaq-100 Index®, Nasdaq 100® and NDX® are registered trademarks of Nasdaq, Inc. (which with its affiliates is referred to as the “Corporations”) and are licensed for use by the adviser. The Fund has not been passed on by the Corporations as to its legality or suitability. The Fund is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
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JEPQ - Performance

Return Ranking - Trailing

Period JEPQ Return Category Return Low Category Return High Rank in Category (%)
YTD 7.1% -54.4% 28.3% N/A
1 Yr 38.4% -49.9% 64.5% N/A
3 Yr N/A* -15.3% 49.4% N/A
5 Yr N/A* -4.7% 43.6% N/A
10 Yr N/A* 2.2% 23.5% N/A

* Annualized

Return Ranking - Calendar

Period JEPQ Return Category Return Low Category Return High Rank in Category (%)
2023 22.4% -87.9% 326.9% N/A
2022 N/A -67.0% 145.0% N/A
2021 N/A -28.8% 76.0% N/A
2020 N/A -57.9% 10.6% N/A
2019 N/A -68.7% 64.3% N/A

Total Return Ranking - Trailing

Period JEPQ Return Category Return Low Category Return High Rank in Category (%)
YTD 7.1% -60.6% 28.3% N/A
1 Yr 38.4% -52.2% 64.5% N/A
3 Yr N/A* -16.3% 49.4% N/A
5 Yr N/A* -5.1% 43.6% N/A
10 Yr N/A* 2.1% 23.5% N/A

* Annualized

Total Return Ranking - Calendar

Period JEPQ Return Category Return Low Category Return High Rank in Category (%)
2023 36.2% -87.9% 326.9% N/A
2022 N/A -67.0% 145.0% N/A
2021 N/A -28.8% 76.0% N/A
2020 N/A -57.9% 16.5% N/A
2019 N/A -68.7% 64.3% N/A

JEPQ - Holdings

Concentration Analysis

JEPQ Category Low Category High JEPQ % Rank
Net Assets 5.58 B 187 K 227 B N/A
Number of Holdings 87 2 3509 N/A
Net Assets in Top 10 2.62 B -1.89 M 104 B N/A
Weighting of Top 10 46.97% 8.5% 100.0% N/A

Top 10 Holdings

  1. Apple, Inc. 8.31%
  2. Microsoft Corp. 7.99%
  3. Alphabet, Inc., Class C 5.21%
  4. Amazon.com, Inc. 4.52%
  5. Morgan Stanley Finance LLC, ELN, (linked to Nasdaq 100 Index) 3.65%
  6. NVIDIA Corp. 3.65%
  7. GS Finance Corp., ELN, (linked to Nasdaq 100 Index) 3.61%
  8. BNP Paribas Issuance BV, ELN, (linked to Nasdaq 100 Index) 3.47%
  9. Societe Generale SA, ELN, (linked to Nasdaq 100 Index) 3.31%
  10. Royal Bank of Canada., ELN, (linked to Nasdaq 100 Index) 3.25%

Asset Allocation

Weighting Return Low Return High JEPQ % Rank
Stocks
81.53% 0.00% 126.20% N/A
Bonds
17.30% -2.69% 9.77% N/A
Cash
1.17% -26.20% 100.00% N/A
Preferred Stocks
0.00% 0.00% 4.41% N/A
Other
0.00% -1.43% 17.15% N/A
Convertible Bonds
0.00% 0.00% 0.44% N/A

Stock Sector Breakdown

Weighting Return Low Return High JEPQ % Rank
Utilities
0.00% 0.00% 11.26% N/A
Technology
0.00% 0.00% 65.70% N/A
Real Estate
0.00% 0.00% 21.64% N/A
Industrials
0.00% 0.00% 39.00% N/A
Healthcare
0.00% 0.00% 39.63% N/A
Financial Services
0.00% 0.00% 43.06% N/A
Energy
0.00% 0.00% 37.60% N/A
Communication Services
0.00% 0.00% 64.53% N/A
Consumer Defense
0.00% 0.00% 25.50% N/A
Consumer Cyclical
0.00% 0.00% 62.57% N/A
Basic Materials
0.00% 0.00% 22.68% N/A

Stock Geographic Breakdown

Weighting Return Low Return High JEPQ % Rank
US
81.53% 0.00% 125.09% N/A
Non US
0.00% 0.00% 52.33% N/A

Bond Sector Breakdown

Weighting Return Low Return High JEPQ % Rank
Cash & Equivalents
1.08% 0.00% 100.00% N/A
Derivative
0.00% 0.00% 82.03% N/A
Securitized
0.00% 0.00% 43.70% N/A
Corporate
0.00% 0.00% 100.00% N/A
Municipal
0.00% 0.00% 0.01% N/A
Government
0.00% 0.00% 77.28% N/A

Bond Geographic Breakdown

Weighting Return Low Return High JEPQ % Rank
US
17.30% -2.69% 7.22% N/A
Non US
0.00% 0.00% 2.55% N/A

JEPQ - Expenses

Operational Fees

JEPQ Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.35% 0.01% 7.09% 85.55%
Management Fee 0.35% 0.00% 1.50% 11.47%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 1.02% N/A

Sales Fees

JEPQ Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 8.50% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

JEPQ Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 5.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

JEPQ Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 316.74% N/A

JEPQ - Distributions

Dividend Yield Analysis

JEPQ Category Low Category High JEPQ % Rank
Dividend Yield 7.72% 0.00% 6.14% 1.49%

Dividend Distribution Analysis

JEPQ Category Low Category High Category Mod
Dividend Distribution Frequency None Annually Monthly Annually

Net Income Ratio Analysis

JEPQ Category Low Category High JEPQ % Rank
Net Income Ratio N/A -6.13% 2.90% N/A

Capital Gain Distribution Analysis

JEPQ Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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JEPQ - Fund Manager Analysis

Managers

Hamilton Reiner


Start Date

Tenure

Tenure Rank

May 03, 2022

0.08

0.1%

Hamilton Reiner, a Managing Director of J.P. Morgan Investment Management, Inc., is responsible for implementing the Fund’s overlay options strategy and for providing insight with respect to the impact to the options strategy of purchasing certain securities. Mr. Reiner has been the head of U.S. Equity Derivatives at JPMIM since 2012. He joined JPMorgan Chase in 2009 and from 2009 to 2012, he was a portfolio manager and head of U.S. Equity Derivatives at JPMorgan Chase. Prior to joining the firm, Mr. Reiner was head of the Equity Long/Short Prime Brokerage platform at Barclays Capital.

Eric Moreau


Start Date

Tenure

Tenure Rank

May 03, 2022

0.08

0.1%

Eric Moreau, a Vice President and employee since 2013, is a data scientist and portfolio manager on the U.S. Structured Equity team, focusing on data analytics and portfolio management.

Andrew Stern


Start Date

Tenure

Tenure Rank

May 03, 2022

0.08

0.1%

Mr. Stern, an Executive Director and a CFA charterholder, is a research analyst and portfolio manager on the U.S. Structured Equity Team. Mr. Stern is a generalist analyst whose coverage spans various industries including financial and healthcare. An employee since 2008, Mr. Stern has been a research analyst since 2011

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 54.36 7.67 3.0