JPMorgan
International Research Enhanced Equity ETF |
Ticker:
JIRE |
Listing
Exchange: NYSE Arca |
ANNUAL
FUND OPERATING EXPENSES
(Expenses
that you pay each year as a percentage of the value
of
your investment) | |
Management
Fees |
0.20% |
Other
Expenses |
0.10 |
Total
Annual Fund Operating Expenses |
0.30 |
Fee
Waivers and/or Expense Reimbursements1 |
-0.06 |
Total
Annual Fund Operating Expenses after Fee Waiv-
ers
and/or Expense Reimbursements1 |
0.24 |
WHETHER
OR NOT YOU SELL YOUR SHARES, YOUR COST
WOULD
BE: | ||||
|
1
Year |
3
Years |
5
Years |
10
Years |
SHARES
($) |
25 |
82 |
154 |
366 |
YEAR-BY-YEAR
RETURNS |
Best
Quarter |
4th
quarter, 2022 |
17.85% |
Worst
Quarter |
1st
quarter, 2020 |
-23.39% |
AVERAGE
ANNUAL TOTAL RETURNS
(For
periods ended December 31, 2022) | |||
|
Past
1
Year |
Past
5
Years |
Past
10
Years |
SHARES |
|
|
|
Return
Before Taxes |
-13.68% |
1.35% |
4.47% |
Return
After Taxes on Distributions |
-14.01 |
0.22 |
2.87 |
Return
After Taxes on Distributions and
Sale
of Fund Shares |
-7.53 |
0.63 |
2.95 |
MSCI
EAFE INDEX
(Net
Total Return)
(Reflects
No Deduction for Fees,
Expenses,
or Taxes, Except Foreign
Withholding
Taxes) |
-14.45 |
1.54 |
4.67 |
Portfolio
Manager |
Managed
the
Fund
Since |
Primary
Title with
Investment
Adviser |
Piera
Elisa Grassi |
2022 |
Managing
Director |
Nicholas
Farserotu |
2022 |
Vice
President |
Winnie
Cheung |
2022 |
Vice
President |
FUNDAMENTAL
INVESTMENT OBJECTIVE |
An
investment objective is fundamental if it cannot be changed without the
consent of a majority of the outstanding Shares of the
Fund.
The Fund’s investment objective is
fundamental. |
|
International
Research
Enhanced
Equity
ETF |
Authorized
Participant Concentration Risk |
• |
Convertible
Securities Risk |
○ |
Currency
Risk |
• |
Cyber
Security Risk |
○ |
Depositary
Receipts Risk |
○ |
Derivatives
Risk |
• |
Developed
Asia Pacific (ex-Japan) Market Risk |
○ |
Equity
Market Risk |
• |
|
International
Research
Enhanced
Equity
ETF |
European
Market Risk |
• |
Exchange-Traded
Fund (ETF) and Other Investment Company Risk |
○ |
Foreign
Securities Risk |
• |
General
Market Risk |
• |
Geographic
Focus Risk |
• |
Industry
and Sector Focus Risk |
• |
Initial
Public Offerings (IPO) Risk |
○ |
Interest
Rate Risk |
○ |
Japan
Risk |
• |
Market
Trading Risk |
• |
Preferred
Securities Risk |
○ |
Privately
Placed Securities Risk |
○ |
Real
Estate Securities Risk |
○ |
Regulatory
and Legal Risk |
○ |
Securities
Lending Risk |
○ |
Smaller
Company Risk |
○ |
Structured
Instrument Risk |
○ |
Transactions
and Liquidity Risk |
○ |
Volcker
Rule Risk |
○ |
WHAT
IS A DERIVATIVE? |
Derivatives
are securities or contracts (for example, futures and options) that derive
their value from the performance of underlying
assets
or securities. |
WHAT
IS A CASH EQUIVALENT? |
Cash
equivalents are highly liquid, high-quality instruments with maturities of
three months or less on the date they are purchased.
They
include securities issued by the U.S. government, its agencies and
instrumentalities, repurchase agreements, certificates of
deposit,
bankers’ acceptances, commercial paper, money market mutual funds, and
bank deposit accounts. |
|
Per
share operating performance (a)
| ||||||
|
|
Investment
operations |
Distributions | ||||
|
Net
asset
value
beginning
of
period |
Net
investment
income
loss
(b) |
Net
realized
and
unrealized
gains
(losses)
on
investments |
Total
from
investment
operations |
Net
investment
income |
Net
realized
gain |
Total
Distributions |
JPMorgan
International Research Enhanced Equity ETF (e) |
|
|
|
|
|
|
|
Year
Ended October
31, 2022 |
$61.89 |
$1.39 |
$(14.54) |
$(13.15) |
$(2.47) |
$— |
$(2.47) |
Year
Ended October
31, 2021 |
46.43 |
1.42(f) |
15.11 |
16.53 |
(1.07) |
— |
(1.07) |
Year
Ended October
31, 2020 |
52.55 |
1.13 |
(5.63) |
(4.50) |
(1.62) |
— |
(1.62) |
Year
Ended October
31, 2019 |
49.24 |
1.65 |
3.37 |
5.02 |
(1.71) |
— |
(1.71) |
November
1, 2017 (g) through October
31, 2018 |
55.08 |
1.62 |
(6.27) |
(4.65) |
(0.64) |
(0.55) |
(1.19) |
| |
(a) |
Per
share amounts reflect the conversion of the Predecessor Fund into the Fund
as of the close of business on June 10, 2022. See Note
1. |
(b) |
Calculated
based upon average shares outstanding. |
(c) |
Includes
adjustments in accordance with accounting principles generally accepted in
the United States of America and as such, the net asset values for
financial
reporting
purposes and the returns based upon those net asset values may differ from
the net asset values and returns for shareholder
transactions. |
(d) |
JPMorgan
International Research Enhanced Equity ETF acquired all of the assets and
liabilities of the JPMorgan International Research Enhanced Equity Fund
(“Predecessor
Fund”) in a reorganization that occurred as of the close of business on
June 10, 2022. Market price returns are calculated using the official
closing
price
of the JPMorgan International Research Enhanced Equity ETF on the listing
exchange as of the time that the JPMorgan International Research Enhanced
Equity
ETF's NAV is calculated. Prior to the JPMorgan International Research
Enhanced Equity ETF's listing on June 13, 2022, the NAV performance of the
Class R6
Shares
of the Predecessor Fund are used as proxy market price
returns.
|
(e) |
JPMorgan
International Research Enhanced Equity ETF (the “Fund”) acquired all of
the assets and liabilities of the JPMorgan International Research Enhanced
Equity
Fund (“Predecessor Fund”) in a reorganization that occurred as of the
close of business on June 10, 2022. Performance and financial history of
the
Predecessor
Fund’s Class R6 Shares have been adopted by the Fund and will be used
going forward. As a result, the financial highlight information reflects
that of
the
Predecessor Fund’s Class R6 Shares for the period November 1, 2017 up
through the reorganization. |
(f) |
Reflects
income from foreign withholding tax claims, including related interest
income. Had the Fund not received these proceeds, the net investment
income (loss)
per
share would have remained the same and the net investment income (loss)
ratio would have been 2.44%. |
(g) |
Commencement
of offering of class of
shares. |
|
Ratios/Supplemental
data
| |||||||
|
|
|
|
|
Ratios
to average net assets
| |||
Net
asset
value,
end of
period |
Market
price,
end of
period |
Total
Return
(c) |
Market
price
total
return
(d) |
Net
assets,
end of
period |
Net
expenses |
Net
investment
income
(loss) |
Expenses
without
waivers
and
reimbursements |
Portfolio
turnover
rate |
|
|
|
|
|
|
|
|
|
$46.27
|
$46.28 |
(22.04)% |
(22.03)% |
$5,026,188,342 |
0.24%
|
2.66% |
0.30%
|
16% |
61.89 |
61.89 |
35.93 |
35.93 |
4,562,266,369 |
0.25 |
2.46(f) |
0.31 |
20 |
46.43 |
46.43 |
(8.96) |
(8.96) |
4,337,775,495 |
0.24 |
2.35 |
0.30 |
52 |
52.55 |
52.55 |
10.78 |
10.78 |
4,435,538,473 |
0.25 |
3.37 |
0.31 |
22 |
49.24 |
49.24 |
(8.60) |
(8.60) |
4,344,571,588 |
0.25 |
3.00 |
0.32 |
42 |
|
|
|
|
Net
Expense Ratio |
Gross
Expense Ratio |
JPMorgan
International Research Enhanced Equity ETF |
0.24% |
0.30% |
JPMorgan
International Research Enhanced Equity ETF | ||||
Period
Ended |
Annual
Costs |
Gross
Cumulative
Return |
Net
Cumulative
Return |
Net
Annual
Return |
February
29, 2024 |
$25 |
5.00% |
4.76% |
4.76% |
February
28, 2025 |
26 |
10.25 |
9.75 |
4.76 |
February
28, 2026 |
31 |
15.76 |
14.93 |
4.72 |
February
28, 2027 |
35 |
21.55 |
20.33 |
4.70 |
February
29, 2028 |
37 |
27.63 |
25.98 |
4.70 |
February
28, 2029 |
39 |
34.01 |
31.90 |
4.70 |
February
28, 2030 |
41 |
40.71 |
38.10 |
4.70 |
February
28, 2031 |
42 |
47.75 |
44.60 |
4.70 |
February
29, 2032 |
44 |
55.13 |
51.39 |
4.70 |
February
28, 2033 |
46 |
62.89 |
58.51 |
4.70 |