JPMorgan
BetaBuilders MSCI US REIT ETF |
Ticker:
BBRE |
Listing
Exchange: Cboe BZX Exchange,
Inc. |
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Management
Fees |
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Total
Annual Fund Operating Expenses |
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|
1
Year |
3
Years |
5
Years |
10
Years |
SHARES
($) |
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|
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|
Past |
Life of
Fund
since |
|
1
Year |
|
SHARES |
|
|
Return Before
Taxes |
-
% |
% |
Return After
Taxes on Distributions |
- |
|
Return After
Taxes on Distributions and Sale
of Fund
Shares |
- |
|
MSCI
US REIT INDEX
(Reflects No
Deduction for Fees, Expenses, or
Taxes) |
- |
|
MSCI
US REIT CUSTOM CAPPED INDEX1
(Reflects No
Deduction for Fees, Expenses, or
Taxes) |
- |
|
Portfolio
Manager |
Managed
the
Fund
Since |
Primary
Title with
Investment
Adviser |
Nicholas
D’Eramo |
2018 |
Executive
Director |
Michael
Loeffler |
2018 |
Executive
Director |
Oliver
Furby |
2018 |
Executive
Director |
Alex
Hamilton |
2018 |
Executive
Director |
NON-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 not fundamental and may be changed
without the consent of a majority of the outstanding
Shares
of the Fund. |
|
BetaBuilders
MSCI
US REIT
ETF |
Authorized
Participant Concentration Risk |
• |
Concentration
Risk |
• |
Cyber
Security Risk |
○
|
|
BetaBuilders
MSCI
US REIT
ETF |
Derivatives
Risk |
• |
Equity
Market Risk |
• |
General
Market Risk |
• |
Index
Related Risk |
• |
Investment
Company Risk |
○ |
Market
Trading Risk |
• |
Passive
Management Risk |
• |
Real Estate
Securities Risk |
• |
Regulatory
and Legal Risk |
○ |
Sampling
Risk |
• |
Securities
Lending Risk |
○ |
Smaller
Company Risk |
• |
Tax
Risk |
• |
Transactions
and Liquidity Risk |
○ |
Volcker
Rule Risk |
○ |
WHAT
IS A DERIVATIVE? |
Derivatives
are securities or contracts (for example, futures) that derive their value
from the performance of underlying assets or
securities. |
|
Per share
operating performance | ||||||
|
|
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
BetaBuilders MSCI US REIT ETF |
|
|
|
|
|
|
|
Year
Ended February 28, 2023 |
$99.98 |
$2.75 |
$(14.63
) |
$(11.88
) |
$(2.14
) |
$— |
$(2.14
) |
Year
Ended February 28, 2022 |
82.46 |
1.93 |
17.48 |
19.41 |
(1.89
) |
— |
(1.89
) |
Year
Ended February 28, 2021 |
82.62 |
2.07 |
0.28
(f) |
2.35 |
(2.51
) |
— |
(2.51
) |
Year
Ended February 29, 2020 |
81.21 |
2.55 |
0.80
(f) |
3.35 |
(1.85
) |
(0.09
) |
(1.94
) |
June
15, 2018 (h)
through February 28, 2019 |
75.67 |
1.85 |
5.10 |
6.95 |
(1.35
) |
(0.06
) |
(1.41
) |
| |
(a) |
Annualized
for periods less than one year, unless otherwise
noted. |
(b) |
Calculated
based upon average shares outstanding. |
(c) |
Not
annualized for periods less than one year. |
(d) |
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. |
(e) |
Prior to
December 9, 2019, market price return was calculated assuming an initial
investment made at the market price at the beginning of the reporting
period,
reinvestment
of all dividends and distributions at market price during the period, and
sale at the market price on the last day of the period. The price used to
calculate the
market price
return was the midpoint of the bid/ask spread at the close of business on
the listing exchange of the Fund. Effective December 9, 2019, the closing
price was
used to
calculate the market price return; however, any prices used in the
calculation for market price return prior to December 9, 2019, would have
used the midpoint of
the bid/ask
spread at the close of business on the exchange. |
(f) |
Calculation
of the net realized and unrealized gains (losses) per share does not
correlate with the Fund’s net realized and unrealized gains (losses)
presented in the
Statement of
Operations due to the timing of capital transactions in relation to the
fluctuating market values of the Fund’s
investments. |
(g) |
Prior to
November 1, 2019, the Fund may have waived fees if expenses exceeded the
expense cap. On November 1, 2019, the Fund adopted a unitary fee structure
where a
management
fee is accrued by the Fund based on prior day net assets and other
expenses are paid by the Advisor. |
(h) |
Commencement
of operations. |
(i) |
Since the
Shares of the Fund did not trade in the secondary market until the day
after the Fund’s inception, for the period from the inception to the first
day of secondary
market
trading, the net asset value is used as a proxy for the secondary market
trading price to calculate the market returns. |
(j) |
Certain
non-recurring expenses incurred by the Fund were not annualized for the
period indicated. |
|
Ratios/Supplemental
data | |||||||
|
|
|
|
|
Ratios to
average net assets (a) |
| ||
Net asset
value,
end of
period |
Market
price,
end of
period |
Total
return
(c)(d) |
Market
price
total
return
(c)(e) |
Net assets,
end of
period |
Net
expenses |
Net
investment
income
(loss) |
Expenses
without waivers
and
reimbursements |
Portfolio
turnover
rate
(c) |
|
|
|
|
|
|
|
|
|
$85.96 |
$85.99 |
(11.84
)% |
(11.85
)% |
$741,364,325 |
0.11
% |
3.03
% |
0.11
% |
8
% |
99.98 |
100.02 |
23.55 |
23.45 |
1,357,276,384 |
0.11 |
1.96 |
0.11 |
5 |
82.46 |
82.56 |
3.37 |
3.36 |
944,122,915 |
0.11 |
2.82 |
0.11 |
7 |
82.62 |
82.73 |
4.06 |
4.18 |
1,206,297,493 |
0.11 |
2.88 |
0.16
(g) |
5 |
81.21 |
81.22 |
9.40 |
9.41
(i) |
136,028,924 |
0.11
(j) |
3.37 |
0.40
(g)(j) |
5 |