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Trending ETFs

Name

As of 05/24/2024

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

$50.44

$22.6 B

5.39%

$2.72

0.18%

Vitals

YTD Return

2.2%

1 yr return

5.9%

3 Yr Avg Return

2.8%

5 Yr Avg Return

2.5%

Net Assets

$22.6 B

Holdings in Top 10

14.9%

52 WEEK LOW AND HIGH

$50.4
$49.94
$50.49

Expenses

OPERATING FEES

Expense Ratio 0.18%

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 05/24/2024

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

$50.44

$22.6 B

5.39%

$2.72

0.18%

JPST - Profile

Distributions

  • YTD Total Return 2.2%
  • 3 Yr Annualized Total Return 2.8%
  • 5 Yr Annualized Total Return 2.5%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.56%
DIVIDENDS
  • Dividend Yield 5.4%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    JPMorgan Ultra-Short Income ETF
  • Fund Family Name
    JPMorgan Funds
  • Inception Date
    May 17, 2017
  • Shares Outstanding
    382849935
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    David Martucci

Fund Description

Under normal circumstances, the Fund seeks to achieve its investment objective by investing at least 80% of its Assets in investment grade, U.S. dollar denominated short-term fixed, variable and floating rate debt. “Assets” means net assets, plus the amount of borrowings for investment purposes. As part of its principal investment strategy, the Fund may invest in corporate securities, asset-backed securities, mortgage-backed and mortgage-related securities, and high quality money market instruments such as commercial paper and certificates of deposit. The Fund may also invest in U.S. Treasury securities (including Separate Trading of Registered Interest and Principal of Securities (STRIPS)), securities issued or guaranteed by the U.S. government or its agencies and instrumentalities, securities issued or guaranteed by foreign governments, repurchase agreements, when-issued securities, delayed delivery securities, forward commitments, zero-coupon securities and privately placed securities. All securities will be U.S. dollar-denominated although they may be issued by a foreign corporation or a U.S. affiliate of a foreign corporation, or a foreign government or its agencies and instrumentalities.The Fund will concentrate its investments in the banking industry. Therefore, under normal conditions, the Fund will invest more than 25% of its assets in securities issued by companies in the banking industry. The Fund may, however, invest less than 25% of its assets in this industry as a temporary defensive measure.The Fund seeks to maintain a duration of one year or less, although under certain market conditions such as in periods of significant volatility in interest rates and spreads, the Fund’s duration may be longer than one year. Duration is a measure of price sensitivity of a debt security or a portfolio of debt securities to relative changes in interest rates. For instance, a duration of “one” means that a security’s or portfolio’s price would be expected to decrease by approximately 1% with a 1% increase in interest rates (assuming a parallel shift in yield curve).For purposes of the Fund’s 80% policy, the investment grade U.S. dollar denominated short-term fixed, variable and floating rate debt securities in which the Fund will invest will carry a minimum short-term rating of P-2, A-2 or F2 or better by Moody’s Investors Service Inc. (Moody’s), Standard & Poor’s Corporation (S&P), or Fitch Ratings (Fitch), respectively, or the equivalent by another nationally recognized statistical rating organization (NRSRO), or a minimum long-term rating of Baa3, BBB–, or BBB– by Moody’s, S&P, or Fitch, respectively, or the equivalent by another NRSRO at the time of investment or if such investments are unrated, deemed by J.P. Morgan Investment Management Inc. (JPMIM or the adviser) to be of comparable quality at the time of investment. The Fund also may invest in securities rated below investment grade (i.e., high yield bonds, also called junk bonds or non-investment grade bonds) or the unrated equivalent. These securities generally are rated in the fifth or lower rating categories (for example, BB+ or lower by S&P and Ba1 or lower by Moody’s). These securities generally offer a higher yield than investment grade securities, but involve a high degree of risk. A security’s quality is determined at the time of purchase and securities that are rated investment grade or the unrated equivalent may be downgraded or decline in credit quality such that subsequently they would be deemed to be below investment grade.The Fund may invest a significant portion of its assets in mortgage-related and mortgage-backed, as well as restricted securities, at the adviser’s discretion. The asset-backed securities in which the Fund may invest include “sub-prime” securities and collateralized loan obligations (CLOs).The Fund may use futures contracts in connection with its principal strategies in certain market conditions in order to hedge various investments, for risk management purposes and/or to seek to increase income or gain to the Fund.The Fund is not a money market fund and is not subject to the special regulatory requirements (including maturity and credit quality constraints) designed to enable money market funds to maintain a stable share price.As part of its principal investment strategy and for temporary defensive purposes, any portion of the Fund’s total assets may be invested in cash, money market funds and cash equivalents.Investment Process: Because the Fund is not managed to a benchmark, J.P. Morgan Investment Management Inc. (JPMIM or the adviser) has broad discretion to shift the Fund’s exposure to strategies and sectors based on changing market conditions and its view of the best mix of investment opportunities. The adviser allocates the Fund’s assets among a range of sectors based on strategic positioning and other tactical considerations. In buying and selling investments for the Fund, the adviser looks for market sectors and individual securities that it believes will perform well over time. The adviser selects individual securities after performing a risk/reward analysis that includes an evaluation of their characteristics including income, interest rate risk, credit risk and the complex legal and technical structure of the transaction. As part of its security selection strategy, the adviser seeks to assess the impact ofenvironmental, 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 issuers 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.
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JPST - Performance

Return Ranking - Trailing

Period JPST Return Category Return Low Category Return High Rank in Category (%)
YTD 2.2% -1.9% 4.4% 56.48%
1 Yr 5.9% 0.5% 14.0% 50.46%
3 Yr 2.8%* -2.1% 6.0% 28.16%
5 Yr 2.5%* -1.1% 4.6% 17.55%
10 Yr N/A* -4.4% 27.6% 14.63%

* Annualized

Return Ranking - Calendar

Period JPST Return Category Return Low Category Return High Rank in Category (%)
2023 0.2% -2.3% 4.3% 90.74%
2022 -0.7% -6.5% 0.5% 18.18%
2021 -0.6% -2.1% 0.3% 69.95%
2020 0.7% -3.1% 1.8% 22.16%
2019 0.6% -1.2% 6.1% 38.59%

Total Return Ranking - Trailing

Period JPST Return Category Return Low Category Return High Rank in Category (%)
YTD 2.2% -1.9% 4.4% 56.48%
1 Yr 5.9% 0.5% 14.0% 50.46%
3 Yr 2.8%* -2.1% 6.0% 28.16%
5 Yr 2.5%* -1.1% 4.6% 17.55%
10 Yr N/A* -4.4% 27.6% N/A

* Annualized

Total Return Ranking - Calendar

Period JPST Return Category Return Low Category Return High Rank in Category (%)
2023 5.1% 0.8% 12.1% 78.70%
2022 1.1% -5.1% 2.5% 8.61%
2021 0.1% -2.1% 14.5% 48.77%
2020 2.2% -1.0% 3.6% 25.77%
2019 3.3% 0.3% 9.6% 29.89%

JPST - Holdings

Concentration Analysis

JPST Category Low Category High JPST % Rank
Net Assets 22.6 B 25.6 K 22.6 B 0.46%
Number of Holdings 683 2 1291 12.50%
Net Assets in Top 10 3.35 B 23.7 K 17.3 B 2.31%
Weighting of Top 10 14.90% 5.6% 163.3% 70.37%

Top 10 Holdings

  1. JPMorgan U.S. Government Money Market Fund, Class IM 5.31%
  2. U.S. Treasury Notes 2.31%
  3. National Bank of Canada 1.15%
  4. Wells Fargo Securities LLC 1.02%
  5. Sumitomo Mitsui Banking Corp. 1.01%
  6. Federation des Caisses Desjardins du Quebec 0.90%
  7. First Abu Dhabi Bank PJSC 0.84%
  8. Skandinaviska Enskilda Banken AB 0.80%
  9. New York Life Global Funding 0.79%
  10. Westpac Banking Corp. 0.77%

Asset Allocation

Weighting Return Low Return High JPST % Rank
Bonds
63.67% 0.00% 128.16% 78.24%
Cash
31.23% 0.00% 109.89% 8.80%
Convertible Bonds
8.88% 0.00% 15.25% 12.09%
Other
6.21% -7.74% 99.94% 56.48%
Stocks
0.00% 0.00% 95.95% 47.69%
Preferred Stocks
0.00% 0.00% 1.74% 37.04%

Bond Sector Breakdown

Weighting Return Low Return High JPST % Rank
Corporate
48.16% 0.00% 99.91% 35.81%
Cash & Equivalents
31.23% 0.00% 109.89% 8.80%
Securitized
13.03% 0.00% 100.00% 66.51%
Government
0.20% 0.00% 100.00% 67.44%
Municipal
0.00% 0.00% 70.39% 65.12%
Derivative
0.00% -7.49% 21.59% 71.30%

Bond Geographic Breakdown

Weighting Return Low Return High JPST % Rank
US
63.67% 0.00% 128.16% 75.00%
Non US
0.00% 0.00% 22.24% 45.37%

JPST - Expenses

Operational Fees

JPST Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.18% 0.02% 29.63% 92.06%
Management Fee 0.18% 0.00% 1.19% 19.44%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.40% 22.99%

Sales Fees

JPST Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 5.75% N/A
Deferred Load N/A 0.25% 1.00% N/A

Trading Fees

JPST Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 1.00% 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.

JPST Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 369.54% 19.47%

JPST - Distributions

Dividend Yield Analysis

JPST Category Low Category High JPST % Rank
Dividend Yield 5.39% 0.00% 8.76% 25.93%

Dividend Distribution Analysis

JPST Category Low Category High Category Mod
Dividend Distribution Frequency None Quarterly Monthly Monthly

Net Income Ratio Analysis

JPST Category Low Category High JPST % Rank
Net Income Ratio 0.56% -1.30% 14.86% 41.35%

Capital Gain Distribution Analysis

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

Distributions History

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JPST - Fund Manager Analysis

Managers

David Martucci


Start Date

Tenure

Tenure Rank

May 17, 2017

5.04

5.0%

David N. Martucci, managing director,is the head of the managed reserves strategy and oversees the portfolio management team at J.P. Morgan Investment Management. David oversees managed reserves portfolios. Prior to joining JPMIM in 2000, David worked at Chubb Insurance as a professional lines underwriter. David holds a B.A. in math and economics from Hamilton College and an M.B.A. in finance and economics from New York University’s Stern School of Business.

James McNerny


Start Date

Tenure

Tenure Rank

May 17, 2017

5.04

5.0%

James McNerny is a Managing Director for J.P. Morgan Investment Management Inc. An employee since 2000, Mr. McNerny is a portfolio manager within the Global Liquidity business. In this role, he oversees managed reserves portfolios, a strategy which focuses on high quality short-term fixed income investments. Previously, Mr. McNerny served as a fixed income portfolio manager and product specialist focusing on liquidity, short duration, broad market, extended market and total return products.

Kyongsoo Noh


Start Date

Tenure

Tenure Rank

May 17, 2017

5.04

5.0%

Kyongsoo Noh, Managing Director and CFA charterholder. An employee since 2000, Mr. Noh is a portfolio manager within the Global Liquidity business. In this role, he oversees managed reserves portfolios. A portfolio manager of the Fund since April 2013, Mr. Noh was previously an ABS portfolio manager within the U.S. Fixed Income Group, specializing in asset-backed securities

Cecilia Junker


Start Date

Tenure

Tenure Rank

May 17, 2017

5.04

5.0%

Cecilia Junker is a Executive Director of J.P. Morgan Investment Management Inc. An employee since 1987, Ms. Junker is a portfolio manager within the Global Liquidity business. In this role, she oversees managed reserves portfolios. Previously, Ms. Junker served as a portfolio manager within the U.S. Fixed Income Group, specializing in asset-backed and commercial mortgage-backed securities.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 32.44 6.56 0.13