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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 USD Emerging Markets Sovereign Bond ETF

JPMB | ETF

$38.96

$671 M

6.18%

$2.41

0.39%

Vitals

YTD Return

2.8%

1 yr return

8.7%

3 Yr Avg Return

-1.3%

5 Yr Avg Return

-0.1%

Net Assets

$671 M

Holdings in Top 10

8.5%

52 WEEK LOW AND HIGH

$39.0
$37.90
$40.67

Expenses

OPERATING FEES

Expense Ratio 0.39%

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 USD Emerging Markets Sovereign Bond ETF

JPMB | ETF

$38.96

$671 M

6.18%

$2.41

0.39%

JPMB - Profile

Distributions

  • YTD Total Return 2.8%
  • 3 Yr Annualized Total Return -1.3%
  • 5 Yr Annualized Total Return -0.1%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 4.17%
DIVIDENDS
  • Dividend Yield 6.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    JPMorgan USD Emerging Markets Sovereign Bond ETF
  • Fund Family Name
    JPMorgan Funds
  • Inception Date
    Jan 29, 2018
  • Shares Outstanding
    1600002
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Eric Isenberg

Fund Description

The Fund seeks investment results that closely correspond, before fees and expenses, to the performance of the JPMorgan Emerging Markets Risk-Aware Bond 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 comprised of liquid, U.S. dollar-denominated sovereign and quasi-sovereign fixed and floating rate debt securities from emerging markets selected using a rules-based methodology that was developed and is owned by the adviser. The Underlying Index defines “quasi-sovereign debt securities” as debt securities issued by an entity that is 100% guaranteed or 100% owned by a national government. The Underlying Index is owned, maintained and calculated by J.P. Morgan Securities LLC (JPMS or the Index Provider), which selects securities in accordance with the methodology from among the components of the J.P. Morgan Emerging Market Bond Index Global Diversified, which was developed and is maintained by the Index Provider. The adviser licenses the Underlying Index from the Index Provider. The Index Provider and the adviser are both wholly-owned subsidiaries of JPMorgan Chase & Co., a publicly-held financial services holding company. The Underlying Index starts with the J.P. Morgan Emerging Market Bond Index Global Diversified and applies a proprietary methodology that filters for liquidity and for country risk and allocates risk based on credit rating. Historically, the J.P. Morgan Emerging Markets Bond Index Global Diversified has included bonds issued by the countries of Angola, Argentina, Armenia, Azerbaijan, Belize, Bolivia, Brazil, Cameroon, Chile, China, Colombia, Costa Rica, Cote D’Ivoire, Croatia, Dominican Republic, Ecuador, Egypt, El Salvador, Ethiopia, Gabon, Georgia, Ghana, Guatemala, Honduras, Hungary, India, Indonesia, Iraq, Jamaica, Jordan, Kazakhstan, Kenya, Latvia, Lebanon, Lithuania, Malaysia, Mexico, Mongolia, Morocco, Mozambique, Namibia, Nigeria, Oman, Pakistan, Panama, Paraguay, Peru, Philippines, Poland, Romania, Russian Federation, Senegal, Serbia, Slovakia, South Africa, Sri Lanka, Suriname, Trinidad and Tobago, Tunisia, Turkey, Ukraine, Uruguay, Venezuela, Vietnam, Zambia; however, this universe of countries may change in accordance with the Index Provider’s determination of eligible emerging market countries and there is no assurance that a particular country will be represented in the Underlying Index at any given time.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 uses a combination of stratified sampling and optimization techniques in order to seek to track the performance of the Underlying Index. The Fund’s goal in utilizing these techniques is to minimize tracking error to the Underlying Index. Stratified sampling involves grouping the securities in the Underlying Index into subgroups (for example, grouping the securities by ratings, maturity, sector or country) and selecting securities from each subgroup to match the aggregate weights of the Underlying Index. Optimization utilizes mathematical techniques to select securities by trading off between the desired characteristics of the Underling Index (for example, the risk and return of securities in the Underlying Index) and specified constraints (for example, trade size, issuer ratings, sectors, duration of securities, bid/ask spreads, and portfolio turnover). The Fund aims to ensure that the Fund’s exposures to important risk factors including, but not limited to, interest rate exposure, credit exposure and country and regional exposure, are aligned as closely as possible with the Underlying Index.To the extent the Fund uses the stratified sampling and optimization 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 a stratified sampling and optimization strategy, it must invest at least 80% of its Assets in securities included in the Underlying Index. The Fund’s portfolio will be rebalanced monthly within each country and semi-annually across countries in accordance with the rebalancing of the Underlying Index. In addition, the Fund may take into account other considerations including, but not limited to, transaction costs, liquidity, capacity, tax implications and the bid/ask spread of the Fund when implementing the Fund’s stratified sampling and optimization techniques. The Fund will use quantitative models in some instances to quantify the tradeoffs of these considerations and the Fund’s alignment with the Underlying Index.The Fund may invest without limit in securities that are rated below investment grade (also known as junk bonds or high yield securities) by Moody’s Investor Service, Inc. (Moody’s), Standard & Poor’s Corporation (S&P), Fitch Ratings (Fitch) or the equivalent by another national rating organization or securities that are unrated but are deemed by the adviser to be of comparable quality.As part of its principal investment strategy, the Fund may invest in private placements. The Fund’s debt investments are not subject to specific duration or average weighted maturity limitations.The Fund may invest up to 20% of its assets in exchange-traded futures contracts, credit default swaps and other exchange-traded funds (ETFs) to seek performance that corresponds to the Underlying Index, particularly in emerging markets where it is otherwise difficult to gain access, as well as in securities not included in the Underlying Index, but which the adviser believes will help the Fund track 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 Fund is non-diversified.
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JPMB - Performance

Return Ranking - Trailing

Period JPMB Return Category Return Low Category Return High Rank in Category (%)
YTD 2.8% -6.0% 465.8% 65.65%
1 Yr 8.7% -4.1% 488.6% 62.59%
3 Yr -1.3%* -8.2% 59.3% 87.68%
5 Yr -0.1%* -7.3% 29.4% 74.17%
10 Yr N/A* -5.6% 14.5% 8.28%

* Annualized

Return Ranking - Calendar

Period JPMB Return Category Return Low Category Return High Rank in Category (%)
2023 2.9% -10.6% 17.8% 80.95%
2022 -20.0% -29.1% -2.4% 70.77%
2021 -6.3% -24.0% 2.7% 35.36%
2020 0.7% -14.0% 9.7% 52.40%
2019 12.3% -6.4% 13.0% 0.75%

Total Return Ranking - Trailing

Period JPMB Return Category Return Low Category Return High Rank in Category (%)
YTD 2.8% -6.0% 465.8% 65.65%
1 Yr 8.7% -4.1% 488.6% 62.59%
3 Yr -1.3%* -8.2% 59.3% 87.68%
5 Yr -0.1%* -7.3% 29.4% 74.17%
10 Yr N/A* -5.6% 14.5% N/A

* Annualized

Total Return Ranking - Calendar

Period JPMB Return Category Return Low Category Return High Rank in Category (%)
2023 9.5% -0.6% 20.0% 80.95%
2022 -16.1% -27.6% -1.7% 75.00%
2021 -2.3% -18.5% 7.4% 33.57%
2020 5.4% -7.8% 18.0% 50.18%
2019 17.7% -3.0% 23.0% 2.62%

JPMB - Holdings

Concentration Analysis

JPMB Category Low Category High JPMB % Rank
Net Assets 671 M 565 K 14.8 B 29.59%
Number of Holdings 422 4 1860 28.23%
Net Assets in Top 10 53.9 M -134 M 1.25 B 44.90%
Weighting of Top 10 8.47% 5.8% 102.2% 95.53%

Top 10 Holdings

  1. Federative Republic of Brazil 1.00%
  2. Republic of South Africa 0.97%
  3. Federative Republic of Brazil 0.90%
  4. Federal Republic of Nigeria 0.86%
  5. Federative Republic of Brazil 0.84%
  6. Dominican Republic Government Bond 0.81%
  7. Hazine Mustesarligi Varlik Kiralama A/S 0.79%
  8. State of Qatar 0.77%
  9. Republic of Colombia 0.77%
  10. Jamaica Government Bond 0.76%

Asset Allocation

Weighting Return Low Return High JPMB % Rank
Bonds 		98.16% 0.00% 105.61% 15.65%
Cash 		1.84% 0.00% 24.01% 83.67%
Stocks 		0.00% -0.01% 96.53% 53.40%
Preferred Stocks 		0.00% 0.00% 2.76% 31.29%
Other 		0.00% -13.89% 86.73% 62.59%
Convertible Bonds 		0.00% 0.00% 8.47% 69.42%

Bond Sector Breakdown

Weighting Return Low Return High JPMB % Rank
Government 		92.57% 0.00% 99.79% 2.41%
Corporate 		6.86% 0.00% 91.26% 80.07%
Cash & Equivalents 		1.09% 0.00% 23.23% 61.90%
Derivative 		0.00% -3.00% 13.76% 51.02%
Securitized 		0.00% 0.00% 2.41% 38.83%
Municipal 		0.00% 0.00% 0.00% 27.49%

Bond Geographic Breakdown

Weighting Return Low Return High JPMB % Rank
US 		98.16% -42.31% 99.15% 8.50%
Non US 		0.00% 0.00% 132.49% 91.16%

JPMB - Expenses

Operational Fees

JPMB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.39% 0.02% 32.92% 97.27%
Management Fee 0.39% 0.00% 1.10% 3.06%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.65% 48.20%

Sales Fees

JPMB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.75% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

JPMB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.75% 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.

JPMB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 218.00% 27.88%

JPMB - Distributions

Dividend Yield Analysis

JPMB Category Low Category High JPMB % Rank
Dividend Yield 6.18% 0.00% 22.22% 32.65%

Dividend Distribution Analysis

JPMB Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

JPMB Category Low Category High JPMB % Rank
Net Income Ratio 4.17% -2.28% 8.00% 43.55%

Capital Gain Distribution Analysis

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

Distributions History

View More +

JPMB - Fund Manager Analysis

Managers

Eric Isenberg

Start Date

Tenure

Tenure Rank

Jan 29, 2018

4.34

4.3%

Mr. Isenberg, Executive Director of JPMIM, is the Head of Fixed Income Portfolio Management for Quantitative Beta Strategies. In this role, Mr. Isenberg is responsible for portfolio management of all of J.P. Morgan Asset Management Holdings Inc. passive fixed income funds, including index replication and smart beta fixed income funds. Prior to joining the firm in 2016, Mr. Isenberg worked at VanEck beginning in 2015, where he was a Fixed Income Portfolio Manager for all of the VanEck Vectors Fixed Income ETFs, including the municipal, international and high yield funds and worked at Credit Suisse from 2003 until 2015 in various roles, including Head of Fixed Income Index Products and Head of Bond Index Products. Mr. Isenberg graduated from Binghamton University in 2001 with a Bachelor of Science in computer science and economics.

Niels Schuehle

Start Date

Tenure

Tenure Rank

Jan 29, 2018

4.34

4.3%

Mr. Schuehle, Executive Director of JPMIM, is Head of Fixed Income Research for Quantitative Beta Strategies. In this role, Mr. Schuehle is focused on further developing the firm’s factor-based franchise in fixed income markets. Prior to joining the firm in 2016, Mr. Schuehle was a Senior Researcher in the Quantitative Portfolio and Index Research team at Bloomberg and Senior Researcher in the Index Strategies and Portfolio Modeling team at Barclays Risk Analytics and Index Solution Group from 2010 to 2016. Mr. Schuehle holds a Ph.D. in Finance from Kellogg School of Management at Northwestern University.

Naveen Kumar

Start Date

Tenure

Tenure Rank

Jan 29, 2018

4.34

4.3%

Mr. Kumar, Vice President of JPMIM, has been a portfolio manager in the Quantitative Beta Strategies Team since 2016. An employee since 2011, he previously worked for the Global Head of Strategic Product Management from 2014 to 2016 and on the JPMorgan Private Bank Manager Selection Team specializing in equities from 2011 to 2014. Mr. Kumar holds a B.A. in Economics from Northwestern University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.15 23.87 6.5 6.11

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