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Name

As of 11/22/2024

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

JPMorgan BetaBuilders MSCI US REIT ETF

BBRE | ETF

$100.43

$799 M

2.89%

$2.89

0.11%

Vitals

YTD Return

14.3%

1 yr return

28.6%

3 Yr Avg Return

1.4%

5 Yr Avg Return

5.5%

Net Assets

$799 M

Holdings in Top 10

47.9%

52 WEEK LOW AND HIGH

$99.9
$80.64
$102.45

Expenses

OPERATING FEES

Expense Ratio 0.11%

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 11/22/2024

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

JPMorgan BetaBuilders MSCI US REIT ETF

BBRE | ETF

$100.43

$799 M

2.89%

$2.89

0.11%

BBRE - Profile

Distributions

  • YTD Total Return 14.3%
  • 3 Yr Annualized Total Return 1.4%
  • 5 Yr Annualized Total Return 5.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.96%
DIVIDENDS
  • Dividend Yield 2.9%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    JPMorgan BetaBuilders MSCI US REIT ETF
  • Fund Family Name
    JPMorgan Funds
  • Inception Date
    Jun 15, 2018
  • Shares Outstanding
    12350005
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Oliver Furby

Fund Description

The Fund seeks investment results that closely correspond, before fees and expenses, to the performance of the MSCI US REIT Custom Capped Index (formerly known as the MSCI USA/REIT 25-50 Custom Index) (the Underlying Index). The Fund will invest at least 80% of its Assets in securities included in the Underlying Index. “Assets” means net assets, plus the amount of borrowing for investment purposes. The Underlying Index is a free-float adjusted market-cap weighted index designed to measure the performance of US equity real estate investment trust (REIT) securities. The Underlying Index is made up of the stocks of publicly traded US equity REITs, as determined by MSCI Inc., the index provider. To be included initially in the Underlying Index, an equity REIT must meet certain criteria established by the index provider, including meeting a minimum market capitalization threshold as well as a liquidity threshold based on a number of factors, including trading volume and frequency of trading. The Underlying Index includes a capping methodology which is designed to prevent the weight of any single issuer, and the aggregate weight of issuers representing over 5% of the Underlying Index, from exceeding a maximum of 25% of the Underlying Index. This capping methodology allows the Fund, in seeking to track the Underlying Index, to invest in a manner consistent with the Fund’s classification as a “diversified” fund under the Investment Company Act of 1940. Equity REITs in the Underlying Index tend to be small-and mid-cap stocks, and may include Health Care REITs, Hotel & Resort REITs, Industrial REITs, Office REITs, Residential REITs, Retail REITs, Diversified REITs and certain other REITs that do not fall into these categories, referred to as Specialized REITs. As of May 31, 2024, the market capitalization of the companies in the Underlying Index ranged from $257.0 million to $103.8 billion and the Underlying Index included 119 securities. REITs are pooled investment vehicles that invest primarily in income-producing real estate or loans related to real estate. Equity REITs invest the majority of their assets directly in real property and derive income primarily from the collection of rents and can also realize capital gains by selling property that has appreciated in value.Beta is a measure of the volatility of a security or a portfolio relative to a market benchmark. The term “BetaBuilders” in the Fund’s name conveys the intended outcome of providing investors with passive exposure and return that generally correspond to a market cap weighted benchmark. The Fund, along with other JPMorgan BetaBuilders Funds, can be used to help an investor build a portfolio of passive exposure to various markets.The Fund, using a “passive” or indexing investment approach, attempts to closely correspond to the performance of the Underlying Index. Unlike many investment companies, the Fund does not seek to outperform the Underlying Index and does not seek temporary defensive positions when markets decline or appear overvalued.The Fund’s intention is to replicate the constituent securities of the Underlying Index as closely as possible. “Replication” is a passive indexing strategy in which a fund invests in substantially all of the securities in its underlying index in approximately the same proportions as the underlying index. However, under various circumstances, it may not be possible or practicable to purchase or hold all of, or only, the constituent securities in their respective weightings in the Underlying Index. In these circumstances, the Fund may utilize a “representative sampling” strategy whereby securities are chosen in order to attempt to approximate the investment characteristics of the constituent securities. To the extent the Fund uses a representative sampling strategy, it would hold a significant number of the constituent securities of the Underlying Index, but may not track the Underlying Index with the same degree of accuracy as would an investment vehicle replicating the entire Underlying Index. Even when the Fund is utilizing representative sampling, it must invest at least 80% of its Assets in securities included in the Underlying Index. The Fund’s portfolio will be rebalanced quarterly in accordance with the quarterly rebalancing of the Underlying Index.The Fund may invest up to 20% of its assets in exchange-traded futures to seek performance that corresponds to the Underlying Index.To the extent that the securities in the Underlying Index are concentrated in one or more industries or groups of industries, the Fund may concentrate in such industries or groups of industries. The current Underlying Index is concentrated in the real estate group of industries.
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BBRE - Performance

Return Ranking - Trailing

Period BBRE Return Category Return Low Category Return High Rank in Category (%)
YTD 14.3% -8.2% 20.7% 19.11%
1 Yr 28.6% -8.8% 33.9% 14.63%
3 Yr 1.4%* -12.9% 5.3% 16.39%
5 Yr 5.5%* -12.4% 14.1% 24.35%
10 Yr N/A* -2.3% 14.5% 43.13%

* Annualized

Return Ranking - Calendar

Period BBRE Return Category Return Low Category Return High Rank in Category (%)
2023 9.5% -16.2% 24.6% 28.98%
2022 -26.5% -51.3% 2.5% 15.98%
2021 40.3% -7.7% 52.3% 9.88%
2020 -10.8% -42.2% 35.0% 70.00%
2019 23.3% 0.0% 43.1% 28.70%

Total Return Ranking - Trailing

Period BBRE Return Category Return Low Category Return High Rank in Category (%)
YTD 14.3% -8.2% 20.7% 19.11%
1 Yr 28.6% -8.8% 33.9% 14.63%
3 Yr 1.4%* -12.9% 5.3% 16.39%
5 Yr 5.5%* -12.4% 14.1% 24.35%
10 Yr N/A* -2.3% 14.5% N/A

* Annualized

Total Return Ranking - Calendar

Period BBRE Return Category Return Low Category Return High Rank in Category (%)
2023 13.9% -13.7% 25.0% 16.73%
2022 -24.7% -40.7% 7.8% 22.95%
2021 43.0% 7.8% 54.6% 29.63%
2020 -7.6% -36.6% 44.3% 75.22%
2019 26.1% 4.1% 46.4% 58.74%

BBRE - Holdings

Concentration Analysis

BBRE Category Low Category High BBRE % Rank
Net Assets 799 M 1.32 M 61.4 B 32.64%
Number of Holdings 122 22 519 14.23%
Net Assets in Top 10 435 M 1.29 M 32.8 B 37.40%
Weighting of Top 10 47.86% 13.2% 90.0% 81.71%

Top 10 Holdings

  1. Prologis, Inc. 10.13%
  2. Equinix, Inc. 6.75%
  3. Welltower, Inc. 5.25%
  4. Public Storage 4.43%
  5. Simon Property Group, Inc. 4.42%
  6. Realty Income Corp. 4.11%
  7. Digital Realty Trust, Inc. 3.81%
  8. Extra Space Storage, Inc. 3.25%
  9. Iron Mountain, Inc. 2.88%
  10. VICI Properties, Inc. 2.82%

Asset Allocation

Weighting Return Low Return High BBRE % Rank
Stocks 		99.51% 0.00% 105.52% 19.51%
Cash 		0.91% -42.50% 24.34% 53.25%
Other 		0.04% -89.90% 104.09% 24.80%
Preferred Stocks 		0.00% 0.00% 31.13% 100.00%
Convertible Bonds 		0.00% 0.00% 10.95% 100.00%
Bonds 		0.00% 0.00% 155.83% 100.00%

Stock Sector Breakdown

Weighting Return Low Return High BBRE % Rank
Real Estate 		100.00% 34.46% 100.00% 38.89%
Utilities 		0.00% 0.00% 3.55% 100.00%
Technology 		0.00% 0.00% 12.02% 100.00%
Industrials 		0.00% 0.00% 7.39% 100.00%
Healthcare 		0.00% 0.00% 0.53% 100.00%
Financial Services 		0.00% 0.00% 37.05% 100.00%
Energy 		0.00% 0.00% 33.11% 100.00%
Communication Services 		0.00% 0.00% 11.61% 100.00%
Consumer Defense 		0.00% 0.00% 0.93% 100.00%
Consumer Cyclical 		0.00% 0.00% 45.29% 100.00%
Basic Materials 		0.00% 0.00% 13.69% 100.00%

Stock Geographic Breakdown

Weighting Return Low Return High BBRE % Rank
US 		99.51% 0.00% 105.52% 15.45%
Non US 		0.00% 0.00% 37.90% 100.00%

BBRE - Expenses

Operational Fees

BBRE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.11% 0.07% 8.91% 97.53%
Management Fee 0.11% 0.00% 1.50% 4.88%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.45% 30.86%

Sales Fees

BBRE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.00% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

BBRE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 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.

BBRE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.11% 380.00% 8.83%

BBRE - Distributions

Dividend Yield Analysis

BBRE Category Low Category High BBRE % Rank
Dividend Yield 2.89% 0.00% 13.03% 20.73%

Dividend Distribution Analysis

BBRE Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Quarterly Quarterly

Net Income Ratio Analysis

BBRE Category Low Category High BBRE % Rank
Net Income Ratio 1.96% -1.14% 6.05% 18.52%

Capital Gain Distribution Analysis

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

Distributions History

View More +

BBRE - Fund Manager Analysis

Managers

Oliver Furby

Start Date

Tenure

Tenure Rank

Jun 15, 2018

3.96

4.0%

Oliver Furby, executive director, is a portfolio manager on J.P. Morgan Asset Management's Core Beta Solutions team based in Columbus. Oliver serves as a portfolio manager on the team's enhanced index strategies, as well as various market cap weighted index strategies across the globe. In addition, Oliver is a member of the J.P. Morgan Asset Management's Multi-Asset Solutions team managing the JPMorgan Investor funds. His responsibilities include index and corporate action analysis, quantitative research for equity and asset allocation products, and portfolio risk management. Prior to joining the group in 2014, he was a Data Analysis Manager for the firm. Prior to joining JPMorgan he was a Quantitative Portfolio Manager and Risk Manager at State Teachers Retirement System of Ohio. Oliver earned a B.A. in Mathematics and Economics from Ohio Wesleyan University and a M.A. in Economics from The Ohio State University. He is member of the Chicago Quantitative Alliance.

Alex Hamilton

Start Date

Tenure

Tenure Rank

Jun 15, 2018

3.96

4.0%

Mr. Hamilton has been a portfolio manager for JPMIM since April 2017. Prior to joining JPMIM, he was an assistant portfolio manager at the Ohio Public Employees Retirement System from 2013 until 2017. Before that time, he worked at Huntington National Bank in the corporate treasury and mortgage capital markets departments. Mr. Hamilton is a CFA charterholder.

Michael Loeffler

Start Date

Tenure

Tenure Rank

Jun 15, 2018

3.96

4.0%

Michael Loeffler, Vice President of JPMIA and a CFA charterholder. Mr. Loeffler has been employed by JPMIA since 1999 when he joined as an investment operations analyst.

Nicholas D’Eramo

Start Date

Tenure

Tenure Rank

Jun 15, 2018

3.96

4.0%

Nicholas D’Eramo, Executive Director, has been a portfolio manager for J.P. Morgan Investment Management Inc. since 2005 and an employee of J.P. Morgan Investment Management Inc. or one of its predecessors since 1999.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 28.42 8.3 16.42

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