Fund
|
Ticker
|
Listing
Exchange
|
JPMorgan
Active China ETF |
JCHI |
NYSE
Arca, Inc.
|
JPMorgan
ActiveBuilders Emerging Markets Equity ETF |
JEMA |
Cboe
BZX Exchange, Inc. |
JPMorgan
Global Select Equity ETF |
JGLO |
The
NASDAQ Stock Market LLC |
JPMorgan
Hedged Equity Laddered Overlay ETF |
HELO |
NYSE
Arca, Inc.
|
JPMorgan
International Growth ETF |
JIG |
NYSE
Arca, Inc.
|
JPMorgan
International Value ETF |
JIVE |
The
NASDAQ Stock Market LLC |
|
|
1 | |
2 | |
| |
3 | |
6 | |
9 | |
12 | |
15 | |
18 | |
21 | |
46 | |
54 | |
56 | |
74 | |
75 | |
79 | |
81 | |
82 | |
83 | |
85 | |
88 |
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"The
strong performance of financial
markets
in 2023 created wider
differences
in equity valuations that
may
provide attractive opportunities
for
investors. Additionally, interest
rate
reductions next year could
benefit
high-quality fixed income
investments.”
—
Brian S. Shlissel
|
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
1
|
2
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
REPORTING
PERIOD RETURN: |
|
Net
Asset Value * |
(15.40)% |
Market
Price ** |
(15.06)% |
MSCI
China All Shares Index (net total return) |
(12.31)% |
Net
Assets as of 10/31/2023 |
$10,558,969 |
Fund
Ticker |
JCHI |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
3
|
TOP
TEN HOLDINGS OF THE
PORTFOLIO
AS OF October
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS | |
1. |
Tencent
Holdings Ltd. (China) |
9.6
% |
2. |
Alibaba
Group Holding Ltd. (China) |
5.0 |
3. |
Kweichow
Moutai Co. Ltd., Class A (China) |
4.4 |
4. |
China
Merchants Bank Co. Ltd., Class H
(China) |
3.9 |
5. |
Meituan
(China) |
3.7 |
6. |
China
Construction Bank Corp., Class H
(China) |
3.5 |
7. |
NetEase,
Inc. (China) |
3.1 |
8. |
Ping
An Insurance Group Co. of China Ltd.,
Class
H (China) |
3.0 |
9. |
Haier
Smart Home Co. Ltd., Class H
(China) |
2.5 |
10. |
China
Yangtze Power Co. Ltd., Class A
(China) |
2.5 |
PORTFOLIO
COMPOSITION BY SECTOR
AS
OF October
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS |
Consumer
Discretionary |
19.5% |
Communication
Services |
15.8 |
Information
Technology |
15.3 |
Financials |
14.1 |
Consumer
Staples |
11.4 |
Health
Care |
7.9 |
Materials |
3.8 |
Utilities |
3.8 |
Industrials |
3.3 |
Energy |
3.2 |
Real
Estate |
1.8 |
Short-Term
Investments |
0.1 |
4
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
|
INCEPTION
DATE |
CUMULATIVE
SINCE
INCEPTION |
JPMorgan
Active China ETF |
| |
Net
Asset Value |
March
15, 2023 |
(15.40
)% |
Market
Price |
|
(15.06
) |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
5
|
REPORTING
PERIOD RETURN: |
|
Net
Asset Value * |
10.61% |
Market
Price ** |
10.27% |
MSCI
Emerging Markets Index (net total return) |
10.80% |
Net
Assets as of 10/31/2023 |
$896,949,975 |
Fund
Ticker |
JEMA |
6
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
TOP
TEN HOLDINGS OF THE
PORTFOLIO
AS OF October
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS | |
1. |
Taiwan
Semiconductor Manufacturing Co.
Ltd.
(Taiwan) |
5.3
% |
2. |
Samsung
Electronics Co. Ltd. (South
Korea) |
3.5 |
3. |
Tencent
Holdings Ltd. (China) |
3.2 |
4. |
Alibaba
Group Holding Ltd. (China) |
2.2 |
5. |
Infosys
Ltd. (India) |
1.7 |
6. |
NetEase,
Inc. (China) |
1.4 |
7. |
SK
Hynix, Inc. (South Korea) |
1.3 |
8. |
HDFC
Bank Ltd., ADR (India) |
1.1 |
9. |
Tata
Consultancy Services Ltd. (India) |
1.0 |
10. |
HDFC
Bank Ltd. (India) |
1.0 |
PORTFOLIO
COMPOSITION BY COUNTRY
AS
OF October
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS |
China |
28.9% |
India |
15.3 |
Taiwan |
15.0 |
South
Korea |
12.4 |
Brazil |
6.0 |
South
Africa |
3.8 |
Mexico |
3.5 |
Saudi
Arabia |
3.0 |
Indonesia |
2.1 |
Thailand |
1.6 |
Hong
Kong |
1.5 |
Others
(each less than 1.0%) |
6.4 |
Short-Term
Investments |
0.5 |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
7
|
|
INCEPTION
DATE |
1
YEAR |
SINCE
INCEPTION |
JPMorgan
ActiveBuilders Emerging Markets Equity ETF |
|
| |
Net
Asset Value |
March
10, 2021 |
10.61
% |
(11.35
)% |
Market
Price |
|
10.27 |
(11.37
) |
8
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
REPORTING
PERIOD RETURN: |
|
Net
Asset Value * |
(4.04)% |
Market
Price ** |
(3.90)% |
MSCI
World Index (net total return) |
(6.21)% |
Net
Assets as of 10/31/2023 |
$841,676,033 |
Fund
Ticker |
JGLO |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
9
|
TOP
TEN HOLDINGS OF THE
PORTFOLIO
AS OF October
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS | |
1. |
Microsoft
Corp. |
7.4
% |
2. |
Amazon.com,
Inc. |
5.3 |
3. |
UnitedHealth
Group, Inc. |
4.2 |
4. |
Coca-Cola
Co. (The) |
3.2 |
5. |
CME
Group, Inc. |
3.1 |
6. |
Taiwan
Semiconductor Manufacturing Co.
Ltd.,
ADR (Taiwan) |
2.9 |
7. |
Meta
Platforms, Inc., Class A |
2.8 |
8. |
Progressive
Corp. (The) |
2.7 |
9. |
Mastercard,
Inc., Class A |
2.7 |
10. |
Apple,
Inc. |
2.6 |
PORTFOLIO
COMPOSITION BY COUNTRY
AS
OF October
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS |
United
States |
67.5% |
France |
6.6 |
United
Kingdom |
3.7 |
Netherlands |
3.4 |
Taiwan |
2.9 |
Japan |
2.8 |
Denmark |
2.1 |
Germany |
2.0 |
Singapore |
1.3 |
South
Korea |
1.2 |
Others
(each less than 1.0%) |
5.2 |
Short-Term
Investments |
1.3 |
10
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
|
INCEPTION
DATE |
CUMULATIVE
SINCE
INCEPTION |
JPMorgan
Global Select Equity ETF |
| |
Net
Asset Value |
September
13, 2023 |
(4.04
)% |
Market
Price |
|
(3.90
) |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
11
|
REPORTING
PERIOD RETURN: |
|
Net
Asset Value * |
(1.44)% |
Market
Price ** |
(1.44)% |
S&P
500 Index |
(2.36)% |
ICE
BofA 3-Month US Treasury Bill Index |
0.49% |
Net
Assets as of 10/31/2023 |
$61,593,815 |
Fund
Ticker |
HELO |
12
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
TOP
TEN HOLDINGS OF THE
PORTFOLIO
AS OF October
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS | |
1. |
Microsoft
Corp. |
7.6
% |
2. |
Apple,
Inc. |
7.1 |
3. |
Amazon.com,
Inc. |
3.9 |
4. |
NVIDIA
Corp. |
3.1 |
5. |
Meta
Platforms, Inc., Class A |
2.2 |
6. |
Alphabet,
Inc., Class A |
2.1 |
7. |
UnitedHealth
Group, Inc. |
1.8 |
8. |
Exxon
Mobil Corp. |
1.6 |
9. |
Mastercard,
Inc., Class A |
1.6 |
10. |
Alphabet,
Inc., Class C |
1.5 |
PORTFOLIO
COMPOSITION BY SECTOR
AS
OF October
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS |
Information
Technology |
27.1% |
Health
Care |
13.0 |
Financials |
12.8 |
Consumer
Discretionary |
11.3 |
Industrials |
8.5 |
Communication
Services |
7.9 |
Consumer
Staples |
6.2 |
Energy |
4.5 |
Utilities |
2.5 |
Materials |
2.3 |
Real
Estate |
2.2 |
Put
Options Purchased |
1.0 |
Short-Term
Investments |
0.7 |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
13
|
|
INCEPTION
DATE |
CUMULATIVE
SINCE
INCEPTION |
JPMorgan
Hedged Equity Laddered Overlay ETF |
| |
Net
Asset Value |
September
28, 2023 |
(1.44
)% |
Market
Price |
|
(1.44
) |
14
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
REPORTING
PERIOD RETURN: |
|
Net
Asset Value * |
10.03% |
Market
Price **,
*** |
10.01% |
MSCI
ACWI ex USA Growth Index (net total return) |
9.19% |
Net
Assets as of 10/31/2023 |
$82,105,027 |
Fund
Ticker |
JIG |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
15
|
TOP
TEN HOLDINGS OF THE
PORTFOLIO
AS OF October
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS | |
1. |
Taiwan
Semiconductor Manufacturing Co.
Ltd.,
ADR (Taiwan) |
5.1
% |
2. |
Tencent
Holdings Ltd. (China) |
3.8 |
3. |
Nestle
SA (Registered) |
3.7 |
4. |
ASML
Holding NV (Netherlands) |
3.3 |
5. |
Novo
Nordisk A/S, Class B (Denmark) |
2.9 |
6. |
Air
Liquide SA (France) |
2.5 |
7. |
Safran
SA (France) |
2.5 |
8. |
Keyence
Corp. (Japan) |
2.2 |
9. |
LVMH
Moet Hennessy Louis Vuitton SE
(France) |
2.2 |
10. |
AstraZeneca
plc (United Kingdom) |
2.2 |
PORTFOLIO
COMPOSITION BY COUNTRY
AS
OF October
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS |
Japan |
14.7% |
United
Kingdom |
11.4 |
France |
11.1 |
United
States |
9.6 |
China |
8.0 |
Canada |
5.5 |
Netherlands |
5.5 |
Taiwan |
5.1 |
Germany |
3.7 |
Sweden |
3.3 |
Denmark |
3.3 |
Spain |
2.5 |
Indonesia |
2.5 |
Australia |
2.1 |
India |
1.9 |
Brazil |
1.6 |
Singapore |
1.6 |
Switzerland |
1.4 |
Mexico |
1.2 |
Hong
Kong |
1.0 |
Others
(each less than 1.0%) |
1.7 |
Short-Term
Investments |
1.3 |
16
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
|
INCEPTION
DATE |
1
YEAR |
SINCE
INCEPTION |
JPMorgan
International Growth ETF |
|
| |
Net
Asset Value |
May 20,
2020 |
10.03
% |
0.84
% |
Market
Price |
|
10.01 |
0.83 |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
17
|
REPORTING
PERIOD RETURN: |
|
Net
Asset Value * |
(4.15)% |
Market
Price ** |
(3.71)% |
MSCI
ACWI ex USA Index (net total return) |
(6.23)% |
MSCI
ACWI ex USA Value Index (net total return) |
(5.53)% |
Net
Assets as of 10/31/2023 |
$11,502,565 |
Fund
Ticker |
JIVE |
18
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
TOP
TEN HOLDINGS OF THE
PORTFOLIO
AS OF October
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS | |
1. |
Shell
plc (Netherlands) |
2.1
% |
2. |
Novartis
AG (Registered) (Switzerland) |
1.9 |
3. |
Alibaba
Group Holding Ltd. (China) |
1.7 |
4. |
Samsung
Electronics Co. Ltd. (South
Korea) |
1.6 |
5. |
TotalEnergies
SE (France) |
1.6 |
6. |
HSBC
Holdings plc (United Kingdom) |
1.5 |
7. |
BHP
Group Ltd. (Australia) |
1.5 |
8. |
BP
plc (United Kingdom) |
1.2 |
9. |
Allianz
SE (Registered) (Germany) |
1.1 |
10. |
Mitsubishi
UFJ Financial Group, Inc.
(Japan) |
1.1 |
PORTFOLIO
COMPOSITION BY COUNTRY
AS
OF October
31, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS |
Japan |
17.8% |
China |
9.3 |
South
Korea |
6.3 |
France |
5.7 |
Canada |
5.5 |
Germany |
5.4 |
United
Kingdom |
5.3 |
Australia |
5.2 |
Italy |
4.8 |
Netherlands |
3.7 |
Switzerland |
3.1 |
Taiwan |
3.1 |
United
States |
3.1 |
Spain |
2.5 |
South
Africa |
2.3 |
Brazil |
2.2 |
Sweden |
1.4 |
Austria |
1.3 |
Denmark |
1.3 |
Finland |
1.2 |
Norway |
1.2 |
Others
(each less than 1.0%) |
5.4 |
Short-Term
Investments |
2.9 |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
19
|
|
INCEPTION
DATE |
CUMULATIVE
SINCE
INCEPTION |
JPMorgan
International Value ETF |
| |
Net
Asset Value |
September
13, 2023 |
(4.15
)% |
Market
Price |
|
(3.71
) |
20
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — 99.9% | ||
Automobile
Components — 1.7% | ||
Fuyao
Glass Industry Group Co. Ltd., Class A |
35,400 |
179,524 |
Banks
— 9.0% | ||
China
Construction Bank Corp., Class H |
646,000 |
365,351 |
China
Merchants Bank Co. Ltd., Class H |
108,500 |
411,572 |
Postal
Savings Bank of China Co. Ltd., Class H (a) |
373,000 |
170,248 |
|
|
947,171 |
Beverages
— 6.2% | ||
Kweichow
Moutai Co. Ltd., Class A |
2,000 |
459,083 |
Wuliangye
Yibin Co. Ltd., Class A |
9,000 |
191,213 |
|
|
650,296 |
Broadline
Retail — 6.8% | ||
Alibaba
Group Holding Ltd. * |
51,000 |
525,049 |
JD.com,
Inc., Class A |
15,100 |
191,969 |
|
|
717,018 |
Chemicals
— 2.7% | ||
Skshu
Paint Co. Ltd., Class A * |
9,940 |
80,642 |
Wanhua
Chemical Group Co. Ltd., Class A |
16,800 |
203,111 |
|
|
283,753 |
Consumer
Staples Distribution & Retail — 1.3% | ||
Yifeng
Pharmacy Chain Co. Ltd., Class A |
30,800 |
137,513 |
Electrical
Equipment — 1.0% | ||
Hongfa
Technology Co. Ltd., Class A |
28,100 |
111,134 |
Electronic
Equipment, Instruments & Components — 5.5% | ||
BOE
Technology Group Co. Ltd., Class A |
414,400 |
221,379 |
Foxconn
Industrial Internet Co. Ltd., Class A |
63,431 |
127,380 |
Sunny
Optical Technology Group Co. Ltd. |
16,600 |
139,074 |
Xiamen
Faratronic Co. Ltd., Class A |
6,700 |
91,122 |
|
|
578,955 |
Entertainment
— 3.1% | ||
NetEase,
Inc. |
15,300 |
327,444 |
Food
Products — 3.9% | ||
Angel
Yeast Co. Ltd., Class A |
24,700 |
117,707 |
Anjoy
Foods Group Co. Ltd., Class A |
5,800 |
102,101 |
Inner
Mongolia Yili Industrial Group Co. Ltd., Class A |
52,800 |
197,282 |
|
|
417,090 |
Gas
Utilities — 1.3% | ||
ENN
Energy Holdings Ltd. |
18,200 |
137,868 |
Health
Care Equipment & Supplies — 2.3% | ||
Shenzhen
Mindray Bio-Medical Electronics Co. Ltd.,
Class
A |
6,200 |
241,524 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Health
Care Providers & Services — 1.3% | ||
Guangzhou
Kingmed Diagnostics Group Co. Ltd.,
Class
A |
16,000 |
134,955 |
Hotels,
Restaurants & Leisure — 4.8% | ||
H
World Group Ltd., ADR * |
3,175 |
119,570 |
Meituan *
(a) |
27,700 |
392,648 |
|
|
512,218 |
Household
Durables — 4.7% | ||
Haier
Smart Home Co. Ltd., Class H |
94,600 |
269,830 |
Jason
Furniture Hangzhou Co. Ltd., Class A |
24,400 |
123,104 |
Oppein
Home Group, Inc., Class A |
8,600 |
101,994 |
|
|
494,928 |
Independent
Power and Renewable Electricity Producers — 2.5% | ||
China
Yangtze Power Co. Ltd., Class A |
85,100 |
261,656 |
Insurance
— 5.2% | ||
China
Pacific Insurance Group Co. Ltd., Class H |
93,600 |
230,571 |
Ping
An Insurance Group Co. of China Ltd., Class H |
62,000 |
314,494 |
|
|
545,065 |
Interactive
Media & Services — 10.9% | ||
Kanzhun
Ltd., ADR * |
9,169 |
135,701 |
Tencent
Holdings Ltd. |
27,400 |
1,014,040 |
|
|
1,149,741 |
Life
Sciences Tools & Services — 1.8% | ||
Wuxi
Biologics Cayman, Inc. *
(a) |
30,500 |
189,641 |
Machinery
— 2.2% | ||
Jiangsu
Hengli Hydraulic Co. Ltd., Class A |
16,000 |
122,728 |
Zhuzhou
CRRC Times Electric Co. Ltd., Class A |
4,200 |
22,159 |
Zhuzhou
CRRC Times Electric Co. Ltd., Class H |
27,300 |
88,107 |
|
|
232,994 |
Media
— 1.7% | ||
Focus
Media Information Technology Co. Ltd.,
Class
A |
195,800 |
184,471 |
Metals
& Mining — 1.1% | ||
Baoshan
Iron & Steel Co. Ltd., Class A |
137,300 |
117,062 |
Oil,
Gas & Consumable Fuels — 3.2% | ||
China
Petroleum & Chemical Corp., Class H |
338,000 |
172,866 |
PetroChina
Co. Ltd., Class H |
252,000 |
164,484 |
|
|
337,350 |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
21
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Pharmaceuticals
— 2.6% | ||
Asymchem
Laboratories Tianjin Co. Ltd., Class A |
7,800 |
160,429 |
China
Resources Sanjiu Medical & Pharmaceutical
Co.
Ltd., Class A |
18,600 |
109,284 |
|
|
269,713 |
Real
Estate Management & Development — 1.8% | ||
KE
Holdings, Inc., ADR |
12,946 |
190,436 |
Semiconductors
& Semiconductor Equipment — 5.1% | ||
Flat
Glass Group Co. Ltd., Class H * |
66,000 |
118,528 |
Hangzhou
First Applied Material Co. Ltd., Class A |
29,820 |
103,844 |
LONGi
Green Energy Technology Co. Ltd., Class A |
32,400 |
106,588 |
Montage
Technology Co. Ltd., Class A |
27,513 |
206,719 |
|
|
535,679 |
Software
— 3.0% | ||
Hundsun
Technologies, Inc., Class A |
40,800 |
173,163 |
Kingdee
International Software Group Co. Ltd. * |
112,000 |
148,609 |
|
|
321,772 |
Technology
Hardware, Storage & Peripherals — 1.7% | ||
Lenovo
Group Ltd. |
156,000 |
181,542 |
Textiles,
Apparel & Luxury Goods — 1.5% | ||
Shenzhou
International Group Holdings Ltd. |
16,200 |
159,124 |
Total
Common Stocks
(Cost
$12,644,831) |
|
10,547,637 |
Short-Term
Investments — 0.1% | ||
Investment
Companies — 0.1% | ||
JPMorgan
Prime Money Market Fund Class IM,
5.49% (b)
(c)(Cost
$10,003) |
10,000 |
10,004 |
Total
Investments — 100.0%
(Cost
$12,654,834) |
|
10,557,641 |
Other
Assets Less Liabilities — 0.0% |
|
1,328 |
NET
ASSETS — 100.0% |
|
10,558,969 |
Percentages
indicated are based on net
assets. |
Abbreviations |
|
ADR |
American
Depositary Receipt |
* |
Non-income
producing security.
|
(a) |
Security
exempt from registration pursuant to Regulation S under
the
Securities Act of 1933, as amended. Regulation S applies to
securities
offerings that are made outside of the United States and
do
not involve direct selling efforts in the United States and as
such
may have restrictions on
resale. |
(b) |
Investment
in an affiliated fund, which is registered under the
Investment
Company Act of 1940, as amended, and is advised by
J.P.
Morgan Investment Management Inc. |
(c) |
The
rate shown is the current yield as of October 31,
2023. |
22
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — 99.3% | ||
Australia
— 0.1% | ||
Rio
Tinto plc |
9,007 |
574,651 |
Brazil
— 6.0% | ||
Ambev
SA |
704,282 |
1,793,619 |
Arcos
Dorados Holdings, Inc., Class A |
79,671 |
718,632 |
Atacadao
SA |
514,374 |
916,166 |
B3
SA - Brasil Bolsa Balcao |
1,516,823 |
3,354,505 |
Banco
Bradesco SA (Preference) |
479,840 |
1,334,330 |
Banco
BTG Pactual SA |
96,771 |
570,444 |
Banco
do Brasil SA |
474,583 |
4,553,098 |
BB
Seguridade Participacoes SA |
182,906 |
1,113,018 |
Centrais
Eletricas Brasileiras SA (Preference) |
89,450 |
681,287 |
Cia
Energetica de Minas Gerais (Preference) |
265,344 |
616,290 |
Gerdau
SA (Preference) |
119,082 |
516,788 |
Itau
Unibanco Holding SA (Preference) |
846,859 |
4,504,935 |
Itausa
SA * |
10,918 |
18,580 |
Itausa
SA (Preference) |
694,548 |
1,191,618 |
Localiza
Rent a Car SA |
224,024 |
2,265,678 |
Lojas
Renner SA |
719,354 |
1,757,811 |
MercadoLibre,
Inc. * |
4,526 |
5,615,589 |
Natura
& Co. Holding SA * |
108,881 |
275,995 |
NU
Holdings Ltd., Class A * |
85,577 |
701,731 |
Petroleo
Brasileiro SA, ADR |
535,130 |
8,026,950 |
Porto
Seguro SA * |
132,462 |
658,665 |
Raia
Drogasil SA |
428,928 |
2,195,791 |
Rumo
SA |
118,381 |
523,372 |
SLC
Agricola SA |
50,361 |
366,589 |
Telefonica
Brasil SA |
61,329 |
549,337 |
TIM
SA |
782,012 |
2,356,079 |
TOTVS
SA |
49,469 |
248,437 |
Transmissora
Alianca de Energia Eletrica S/A |
107,676 |
723,571 |
Vale
SA, ADR |
199,142 |
2,730,237 |
Vibra
Energia SA * |
102,225 |
401,864 |
WEG
SA |
436,220 |
2,849,154 |
|
|
54,130,160 |
Canada
— 0.0% ^ | ||
B2Gold
Corp. |
114,243 |
365,775 |
Chile
— 0.4% | ||
Banco
de Chile |
3,237,160 |
332,578 |
Banco
Santander Chile |
68,971,633 |
3,007,009 |
Cencosud
SA |
234,097 |
379,263 |
|
|
3,718,850 |
China
— 28.9% | ||
3SBio,
Inc. (a) |
330,962 |
294,438 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
China
— continued | ||
Aier
Eye Hospital Group Co. Ltd., Class A |
349,833 |
871,732 |
Airtac
International Group |
30,562 |
1,004,805 |
Alibaba
Group Holding Ltd. * |
1,889,486 |
19,452,408 |
Angel
Yeast Co. Ltd., Class A |
205,109 |
977,442 |
Anhui
Heli Co. Ltd., Class A |
115,100 |
261,992 |
Anjoy
Foods Group Co. Ltd., Class A |
79,100 |
1,392,439 |
Anker
Innovations Technology Co. Ltd.,
Class
A |
33,100 |
422,562 |
Asymchem
Laboratories Tianjin Co. Ltd.,
Class
H (a) |
43,100 |
560,486 |
Baidu,
Inc., Class A * |
157,750 |
2,071,070 |
Bank
of China Ltd., Class H |
621,000 |
216,937 |
Bank
of Jiangsu Co. Ltd., Class A |
500,400 |
470,514 |
Bank
of Ningbo Co. Ltd., Class A |
196,900 |
670,190 |
Baoshan
Iron & Steel Co. Ltd., Class A |
2,356,200 |
2,008,888 |
Beijing
Kingsoft Office Software, Inc., Class A |
31,306 |
1,227,273 |
Beijing
Oriental Yuhong Waterproof
Technology
Co. Ltd., Class A |
177,800 |
603,273 |
BOE
Technology Group Co. Ltd., Class A |
1,287,800 |
687,964 |
Budweiser
Brewing Co. APAC Ltd. (a) |
1,089,128 |
2,069,721 |
BYD
Electronic International Co. Ltd. |
110,500 |
461,284 |
Chacha
Food Co. Ltd., Class A |
141,800 |
715,210 |
China
CITIC Bank Corp. Ltd., Class H |
823,000 |
367,147 |
China
Construction Bank Corp., Class H |
9,476,000 |
5,359,228 |
China
Life Insurance Co. Ltd., Class H |
214,000 |
289,841 |
China
Merchants Bank Co. Ltd., Class H |
1,992,500 |
7,558,140 |
China
Overseas Land & Investment Ltd. |
1,055,500 |
1,991,844 |
China
Pacific Insurance Group Co. Ltd., Class H |
1,211,400 |
2,984,127 |
China
Petroleum & Chemical Corp., Class H |
3,670,000 |
1,876,977 |
China
Resources Gas Group Ltd. |
628,500 |
1,857,925 |
China
Resources Land Ltd. |
516,000 |
1,931,444 |
China
Resources Mixc Lifestyle Services
Ltd. (a) |
248,482 |
969,432 |
China
Resources Sanjiu Medical &
Pharmaceutical
Co. Ltd., Class A |
122,700 |
720,919 |
China
State Construction Engineering Corp.
Ltd.,
Class A |
597,622 |
421,555 |
China
United Network Communications Ltd.,
Class
A |
499,200 |
303,223 |
China
Yangtze Power Co. Ltd., Class A |
840,000 |
2,582,743 |
Chongqing
Brewery Co. Ltd., Class A |
182,600 |
1,952,676 |
CITIC
Securities Co. Ltd., Class H |
644,000 |
1,253,132 |
CMOC
Group Ltd., Class H |
624,000 |
372,161 |
Contemporary
Amperex Technology Co. Ltd.,
Class
A |
46,400 |
1,174,280 |
CRRC
Corp. Ltd., Class H |
1,380,000 |
574,941 |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
23
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
China
— continued | ||
DaShenLin
Pharmaceutical Group Co. Ltd.,
Class
A |
110,112 |
357,224 |
Dongfang
Electric Corp. Ltd., Class H |
199,200 |
191,114 |
ENN
Energy Holdings Ltd. |
69,000 |
522,685 |
Flat
Glass Group Co. Ltd., Class H * |
266,000 |
477,704 |
Focus
Media Information Technology Co. Ltd.,
Class
A |
1,962,900 |
1,849,326 |
Foshan
Haitian Flavouring & Food Co. Ltd.,
Class
A |
126,830 |
650,572 |
Foxconn
Industrial Internet Co. Ltd., Class A |
861,100 |
1,729,230 |
Fuyao
Glass Industry Group Co. Ltd.,
Class
H (a) |
954,000 |
4,349,374 |
GF
Securities Co. Ltd., Class H |
348,000 |
453,083 |
Gree
Electric Appliances, Inc. of Zhuhai,
Class
A |
115,700 |
534,850 |
Guangdong
Investment Ltd. |
1,030,000 |
702,854 |
Guangzhou
Kingmed Diagnostics Group Co.
Ltd.,
Class A |
65,900 |
555,847 |
H
World Group Ltd. * |
931,386 |
3,501,018 |
Haier
Smart Home Co. Ltd., Class H |
2,624,200 |
7,485,082 |
Hangzhou
First Applied Material Co. Ltd.,
Class
A |
97,360 |
339,042 |
Hefei
Meiya Optoelectronic Technology, Inc.,
Class
A |
383,621 |
1,014,490 |
Hongfa
Technology Co. Ltd., Class A |
216,800 |
857,434 |
Huayu
Automotive Systems Co. Ltd., Class A |
570,046 |
1,362,592 |
Hundsun
Technologies, Inc., Class A |
214,500 |
910,376 |
Imeik
Technology Development Co. Ltd.,
Class
A |
11,500 |
516,755 |
Industrial
& Commercial Bank of China Ltd.,
Class
H |
517,000 |
247,769 |
Inner
Mongolia Yili Industrial Group Co. Ltd.,
Class
A |
1,660,413 |
6,203,970 |
JA
Solar Technology Co. Ltd., Class A |
142,400 |
434,781 |
Jason
Furniture Hangzhou Co. Ltd., Class A |
110,636 |
558,184 |
JD
Health International, Inc. *
(a) |
270,820 |
1,230,140 |
JD.com,
Inc., Class A |
467,102 |
5,938,344 |
Jiangsu
Hengli Hydraulic Co. Ltd., Class A |
330,200 |
2,532,801 |
Jiangsu
Yuyue Medical Equipment & Supply
Co.
Ltd., Class A |
72,900 |
334,117 |
Jiangxi
Copper Co. Ltd., Class H |
132,000 |
186,642 |
Joyoung
Co. Ltd., Class A |
314,400 |
571,884 |
Kanzhun
Ltd., ADR * |
103,125 |
1,526,250 |
KE
Holdings, Inc., Class A |
129,768 |
639,350 |
Kingdee
International Software Group Co.
Ltd. * |
1,040,000 |
1,379,943 |
Kunlun
Energy Co. Ltd. |
654,000 |
544,850 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
China
— continued | ||
Kweichow
Moutai Co. Ltd., Class A |
31,300 |
7,184,654 |
Lenovo
Group Ltd. |
206,000 |
239,729 |
Lens
Technology Co. Ltd., Class A |
233,800 |
416,285 |
LONGi
Green Energy Technology Co. Ltd.,
Class
A |
283,696 |
933,287 |
Luzhou
Laojiao Co. Ltd., Class A |
47,300 |
1,380,790 |
Meituan *
(a) |
604,128 |
8,563,523 |
Midea
Group Co. Ltd., Class A |
632,412 |
4,559,752 |
Minth
Group Ltd. |
114,000 |
254,474 |
Montage
Technology Co. Ltd., Class A |
78,311 |
588,391 |
NARI
Technology Co. Ltd., Class A |
560,448 |
1,724,671 |
NetEase,
Inc. |
588,548 |
12,595,840 |
Ningbo
Tuopu Group Co. Ltd., Class A |
53,200 |
468,351 |
Offshore
Oil Engineering Co. Ltd., Class A |
357,900 |
303,060 |
Oppein
Home Group, Inc., Class A |
56,784 |
673,446 |
PDD
Holdings, Inc., ADR * |
51,288 |
5,201,629 |
PetroChina
Co. Ltd., Class H |
1,144,000 |
746,707 |
PICC
Property & Casualty Co. Ltd., Class H |
1,546,000 |
1,765,463 |
Ping
An Bank Co. Ltd., Class A |
1,058,156 |
1,508,449 |
Ping
An Insurance Group Co. of China Ltd.,
Class
H |
1,695,500 |
8,600,384 |
Poly
Developments and Holdings Group Co.
Ltd.,
Class A |
444,300 |
666,437 |
Postal
Savings Bank of China Co. Ltd.,
Class
H (a) |
851,000 |
388,421 |
Qingdao
Haier Biomedical Co. Ltd., Class A |
51,422 |
255,984 |
Sanquan
Food Co. Ltd., Class A |
136,800 |
272,588 |
Sany
Heavy Industry Co. Ltd., Class A |
194,100 |
382,511 |
Shanghai
Baosight Software Co. Ltd., Class A |
281,651 |
1,636,895 |
Shenzhen
Inovance Technology Co. Ltd.,
Class
A |
69,300 |
570,938 |
Shenzhen
Mindray Bio-Medical Electronics Co.
Ltd.,
Class A |
57,700 |
2,247,734 |
Shenzhou
International Group Holdings Ltd. |
233,700 |
2,295,512 |
Sichuan
Road and Bridge Group Co. Ltd.,
Class
A |
247,300 |
259,761 |
Sichuan
Swellfun Co. Ltd., Class A |
80,800 |
673,002 |
Silergy
Corp. |
300,414 |
2,685,052 |
Sinopharm
Group Co. Ltd., Class H |
160,000 |
382,605 |
Sinotrans
Ltd., Class H |
948,000 |
311,572 |
Skshu
Paint Co. Ltd., Class A * |
209,656 |
1,700,913 |
Sunny
Optical Technology Group Co. Ltd. |
51,888 |
434,714 |
Sunresin
New Materials Co. Ltd., Class A |
95,100 |
704,380 |
SUPCON
Technology Co. Ltd., Class A |
132,529 |
788,157 |
Tencent
Holdings Ltd. |
772,900 |
28,604,068 |
Tingyi
Cayman Islands Holding Corp. |
1,550,000 |
2,056,037 |
24
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
China
— continued | ||
Topsports
International Holdings Ltd. (a) |
1,560,652 |
1,312,418 |
Trip.com
Group Ltd. * |
59,518 |
2,028,470 |
Tsingtao
Brewery Co. Ltd. |
36,000 |
273,007 |
Vipshop
Holdings Ltd., ADR * |
26,237 |
374,140 |
Wanhua
Chemical Group Co. Ltd., Class A |
196,900 |
2,380,505 |
Warom
Technology, Inc. Co., Class A |
93,200 |
215,788 |
Wuliangye
Yibin Co. Ltd., Class A |
238,900 |
5,075,642 |
WuXi
AppTec Co. Ltd., Class H (a) |
35,800 |
430,192 |
Wuxi
Biologics Cayman, Inc. *
(a) |
779,318 |
4,845,598 |
Xiamen
Faratronic Co. Ltd., Class A |
40,600 |
552,175 |
Xinyi
Glass Holdings Ltd. |
1,078,000 |
1,238,644 |
Xinyi
Solar Holdings Ltd. |
1,003,496 |
590,567 |
Yifeng
Pharmacy Chain Co. Ltd., Class A |
107,080 |
478,080 |
Yixintang
Pharmaceutical Group Co. Ltd.,
Class
A |
109,700 |
317,809 |
Yum
China Holdings, Inc. |
91,830 |
4,826,585 |
Yutong
Bus Co. Ltd., Class A |
184,800 |
343,399 |
Zhejiang
Dingli Machinery Co. Ltd., Class A |
40,500 |
300,605 |
Zhejiang
Jingsheng Mechanical & Electrical Co.
Ltd.,
Class A |
100,800 |
597,439 |
Zhejiang
Supor Co. Ltd., Class A |
192,173 |
1,313,360 |
Zhejiang
Weixing New Building Materials Co.
Ltd.,
Class A |
111,100 |
249,587 |
Zhuhai
Huafa Properties Co. Ltd., Class A |
250,100 |
286,032 |
Zhuzhou
CRRC Times Electric Co. Ltd., Class H |
239,900 |
774,246 |
Zijin
Mining Group Co. Ltd., Class H |
968,000 |
1,497,411 |
ZTO
Express Cayman, Inc. |
81,306 |
1,904,396 |
|
|
258,904,301 |
Colombia
— 0.1% | ||
Bancolombia
SA (Preference) |
31,097 |
199,456 |
Ecopetrol
SA |
600,661 |
353,596 |
|
|
553,052 |
Czech
Republic — 0.0% ^ | ||
Komercni
Banka A/S |
12,217 |
358,063 |
Ghana
— 0.1% | ||
Kosmos
Energy Ltd. * |
87,689 |
634,868 |
Greece
— 0.5% | ||
Alpha
Services and Holdings SA * |
252,102 |
377,380 |
Hellenic
Telecommunications Organization SA |
51,033 |
715,299 |
JUMBO
SA |
18,338 |
482,369 |
Motor
Oil Hellas Corinth Refineries SA |
13,345 |
317,708 |
Mytilineos
SA |
13,595 |
503,183 |
National
Bank of Greece SA * |
86,766 |
496,939 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Greece
— continued | ||
OPAP
SA |
50,776 |
860,058 |
Piraeus
Financial Holdings SA * |
120,310 |
356,616 |
|
|
4,109,552 |
Hong
Kong — 1.5% | ||
AIA
Group Ltd. |
651,400 |
5,656,633 |
ASMPT
Ltd. |
42,700 |
361,650 |
Cathay
Pacific Airways Ltd. * |
360,000 |
361,905 |
Hang
Seng Bank Ltd. |
77,500 |
886,064 |
Hong
Kong Exchanges & Clearing Ltd. |
98,500 |
3,445,791 |
Prudential
plc |
15,111 |
158,006 |
Techtronic
Industries Co. Ltd. |
255,500 |
2,332,594 |
|
|
13,202,643 |
Hungary
— 0.4% | ||
MOL
Hungarian Oil & Gas plc |
56,744 |
451,503 |
OTP
Bank Nyrt. |
59,329 |
2,208,227 |
Richter
Gedeon Nyrt. |
21,714 |
509,134 |
|
|
3,168,864 |
India
— 15.2% | ||
Asian
Paints Ltd. |
15,130 |
545,001 |
Axis
Bank Ltd. |
375,489 |
4,430,700 |
Bajaj
Auto Ltd. |
15,114 |
964,135 |
Bank
of Baroda |
174,224 |
410,806 |
Bharat
Electronics Ltd. |
575,868 |
922,594 |
Biocon
Ltd. |
89,838 |
237,080 |
Birlasoft
Ltd. |
63,412 |
417,473 |
Britannia
Industries Ltd. |
61,129 |
3,251,777 |
Cholamandalam
Investment and Finance Co.
Ltd. |
163,874 |
2,239,458 |
Coforge
Ltd. |
35,029 |
2,098,943 |
Colgate-Palmolive
India Ltd. |
78,154 |
1,984,272 |
Computer
Age Management Services Ltd. |
31,235 |
843,127 |
Cummins
India Ltd. |
39,285 |
791,294 |
Dr
Lal PathLabs Ltd. (a) |
8,090 |
235,017 |
Dr
Reddy's Laboratories Ltd. |
16,248 |
1,048,721 |
Eicher
Motors Ltd. |
34,003 |
1,345,772 |
HCL
Technologies Ltd. |
152,359 |
2,336,948 |
HDFC
Asset Management Co. Ltd. (a) |
20,710 |
680,266 |
HDFC
Bank Ltd., ADR |
175,476 |
9,923,168 |
HDFC
Bank Ltd. |
499,592 |
8,865,030 |
HDFC
Life Insurance Co. Ltd. (a) |
709,425 |
5,270,085 |
Hindustan
Petroleum Corp. Ltd. * |
102,765 |
305,736 |
Hindustan
Unilever Ltd. |
240,763 |
7,185,183 |
ICICI
Bank Ltd. |
779,456 |
8,575,421 |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
25
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
India
— continued | ||
Info
Edge India Ltd. |
32,585 |
1,599,112 |
Infosys
Ltd. |
928,359 |
15,267,575 |
InterGlobe
Aviation Ltd. *
(a) |
13,051 |
384,647 |
ITC
Ltd. |
460,525 |
2,370,571 |
Jindal
Steel & Power Ltd. |
45,214 |
344,267 |
Jubilant
Foodworks Ltd. |
81,952 |
493,113 |
Kajaria
Ceramics Ltd. |
29,731 |
450,417 |
Kotak
Mahindra Bank Ltd. |
353,996 |
7,400,226 |
Larsen
& Toubro Ltd. |
5,373 |
189,081 |
Mahindra
& Mahindra Ltd. |
214,493 |
3,759,050 |
Maruti
Suzuki India Ltd. |
24,851 |
3,103,311 |
Metropolis
Healthcare Ltd. (a) |
25,420 |
429,237 |
Multi
Commodity Exchange of India Ltd. |
21,278 |
595,696 |
NCC
Ltd. |
257,055 |
446,279 |
Oil
& Natural Gas Corp. Ltd. |
444,881 |
995,459 |
Petronet
LNG Ltd. |
718,524 |
1,722,274 |
Power
Finance Corp. Ltd. |
199,014 |
589,379 |
Power
Grid Corp. of India Ltd. |
661,839 |
1,607,433 |
Reliance
Industries Ltd. |
291,360 |
8,011,756 |
Shriram
Finance Ltd. |
107,944 |
2,435,774 |
State
Bank of India |
87,160 |
592,259 |
Tata
Consultancy Services Ltd. |
226,353 |
9,163,583 |
Triveni
Turbine Ltd. * |
63,429 |
273,657 |
Tube
Investments of India Ltd. |
49,805 |
1,884,205 |
UltraTech
Cement Ltd. |
32,657 |
3,305,021 |
United
Spirits Ltd. * |
168,237 |
2,086,348 |
WNS
Holdings Ltd., ADR * |
35,651 |
1,936,562 |
Zensar
Technologies Ltd. |
59,964 |
353,074 |
|
|
136,697,373 |
Indonesia
— 2.1% | ||
Adaro
Energy Indonesia Tbk. PT |
1,465,600 |
236,473 |
Astra
International Tbk. PT |
1,069,400 |
389,026 |
Bank
Central Asia Tbk. PT |
10,573,900 |
5,825,380 |
Bank
Mandiri Persero Tbk. PT |
2,242,400 |
801,102 |
Bank
Negara Indonesia Persero Tbk. PT |
1,659,800 |
500,905 |
Bank
Rakyat Indonesia Persero Tbk. PT |
21,703,570 |
6,786,357 |
GoTo
Gojek Tokopedia Tbk. PT * |
68,217,200 |
258,083 |
Indah
Kiat Pulp & Paper Tbk. PT |
263,800 |
159,441 |
Indofood
CBP Sukses Makmur Tbk. PT |
376,400 |
245,247 |
Sumber
Alfaria Trijaya Tbk. PT |
1,501,200 |
273,117 |
Telkom
Indonesia Persero Tbk. PT |
12,482,500 |
2,736,361 |
Unilever
Indonesia Tbk. PT |
862,400 |
196,531 |
United
Tractors Tbk. PT |
179,700 |
284,377 |
|
|
18,692,400 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Kuwait
— 0.1% | ||
National
Bank of Kuwait SAKP |
291,504 |
826,343 |
Macau
— 0.1% | ||
Sands
China Ltd. * |
309,512 |
833,222 |
Malaysia
— 0.4% | ||
CIMB
Group Holdings Bhd. |
364,000 |
436,107 |
Hong
Leong Bank Bhd. |
76,700 |
312,307 |
IHH
Healthcare Bhd. |
180,400 |
227,087 |
Kuala
Lumpur Kepong Bhd. |
39,700 |
183,261 |
Malayan
Banking Bhd. |
233,000 |
441,199 |
Petronas
Chemicals Group Bhd. |
207,100 |
319,350 |
Press
Metal Aluminium Holdings Bhd. |
232,100 |
239,916 |
Public
Bank Bhd. |
1,614,800 |
1,410,369 |
Tenaga
Nasional Bhd. |
206,800 |
429,703 |
|
|
3,999,299 |
Mexico
— 3.5% | ||
America
Movil SAB de CV |
811,485 |
671,099 |
Arca
Continental SAB de CV |
95,198 |
854,242 |
Bolsa
Mexicana de Valores SAB de CV |
409,699 |
637,875 |
Cemex
SAB de CV * |
603,263 |
361,041 |
Coca-Cola
Femsa SAB de CV |
41,566 |
315,993 |
Corp.
Inmobiliaria Vesta SAB de CV |
235,562 |
738,736 |
Fomento
Economico Mexicano SAB de CV |
164,363 |
1,858,326 |
Gentera
SAB de CV |
587,114 |
621,991 |
Grupo
Aeroportuario del Centro Norte SAB de
CV |
36,647 |
280,935 |
Grupo
Aeroportuario del Pacifico SAB de CV,
Class
B |
235,731 |
2,752,178 |
Grupo
Aeroportuario del Sureste SAB de CV,
Class
B |
72,546 |
1,569,302 |
Grupo
Financiero Banorte SAB de CV, Class O |
916,091 |
7,421,104 |
Kimberly-Clark
de Mexico SAB de CV, Class A |
1,338,036 |
2,452,089 |
Qualitas
Controladora SAB de CV |
51,364 |
424,581 |
Regional
SAB de CV |
116,552 |
883,336 |
Southern
Copper Corp. |
14,782 |
1,048,044 |
Wal-Mart
de Mexico SAB de CV |
2,300,295 |
8,242,224 |
|
|
31,133,096 |
Panama
— 0.1% | ||
Copa
Holdings SA, Class A |
5,609 |
457,975 |
Peru
— 0.4% | ||
Credicorp
Ltd. |
28,278 |
3,533,619 |
Philippines
— 0.2% | ||
Ayala
Corp. |
19,170 |
204,961 |
Ayala
Land, Inc. |
545,400 |
268,365 |
26
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Philippines
— continued | ||
Bank
of the Philippine Islands |
134,555 |
238,329 |
BDO
Unibank, Inc. |
156,440 |
352,142 |
International
Container Terminal Services, Inc. |
59,890 |
212,192 |
SM
Investments Corp. |
16,960 |
239,701 |
SM
Prime Holdings, Inc. |
467,600 |
247,233 |
|
|
1,762,923 |
Poland
— 0.6% | ||
Bank
Polska Kasa Opieki SA |
31,492 |
956,954 |
Dino
Polska SA *
(a) |
10,882 |
1,031,127 |
KRUK
SA |
3,827 |
423,360 |
Powszechny
Zaklad Ubezpieczen SA |
294,023 |
3,327,129 |
|
|
5,738,570 |
Portugal
— 0.2% | ||
Jeronimo
Martins SGPS SA |
91,284 |
2,104,541 |
Qatar
— 0.5% | ||
Industries
Qatar QSC |
479,300 |
1,610,135 |
Ooredoo
QPSC |
181,124 |
491,985 |
Qatar
Gas Transport Co. Ltd. |
615,464 |
595,011 |
Qatar
National Bank QPSC |
402,984 |
1,648,017 |
|
|
4,345,148 |
Russia
— 0.0% ^ | ||
Gazprom
PJSC, ADR ‡
* |
12,780 |
1,426 |
Gazprom
PJSC ‡
* |
1,135,066 |
58,080 |
Magnitogorsk
Iron & Steel Works PJSC, GDR ‡
* |
12,378 |
1,869 |
MMC
Norilsk Nickel PJSC, ADR ‡
* |
2,018 |
969 |
MMC
Norilsk Nickel PJSC ‡
* |
2,036 |
8,755 |
Moscow
Exchange MICEX-RTS PJSC ‡ |
571,670 |
13,582 |
Rosneft
Oil Co. PJSC ‡ |
141,777 |
9,388 |
Sberbank
of Russia PJSC ‡ |
629,236 |
17,654 |
Severstal
PAO, GDR ‡
* (a) |
98,048 |
31,375 |
VTB
Bank PJSC ‡
* |
168,450,798 |
793 |
X5
Retail Group NV, GDR ‡
* (a) |
13,771 |
3,324 |
|
|
147,215 |
Saudi
Arabia — 3.0% | ||
Al
Rajhi Bank |
192,618 |
3,447,971 |
Aldrees
Petroleum and Transport Services Co. |
14,618 |
458,819 |
Alinma
Bank |
157,360 |
1,381,091 |
Almarai
Co. JSC |
16,875 |
251,443 |
Arabian
Centres Co. Ltd. |
64,309 |
343,863 |
Arabian
Contracting Services Co. |
14,051 |
755,809 |
Arabian
Drilling Co. * |
15,023 |
702,376 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Saudi
Arabia — continued | ||
Elm
Co. |
4,952 |
925,563 |
Etihad
Etisalat Co. |
50,965 |
626,262 |
Jarir
Marketing Co. |
77,790 |
300,245 |
Leejam
Sports Co. JSC |
15,867 |
649,635 |
Mouwasat
Medical Services Co. |
49,926 |
1,330,792 |
Nahdi
Medical Co. |
9,126 |
345,056 |
Riyad
Bank |
116,978 |
827,851 |
Riyadh
Cables Group Co. |
43,959 |
859,172 |
Sahara
International Petrochemical Co. |
58,647 |
505,151 |
Saudi
Airlines Catering Co. |
18,364 |
511,036 |
Saudi
Arabian Oil Co. (a) |
286,751 |
2,547,599 |
Saudi
Awwal Bank |
78,658 |
702,346 |
Saudi
Basic Industries Corp. |
79,188 |
1,627,254 |
Saudi
National Bank (The) |
477,964 |
4,276,894 |
Saudi
Telecom Co. |
148,899 |
1,525,339 |
Saudia
Dairy & Foodstuff Co. |
9,140 |
730,888 |
Theeb
Rent A Car Co. |
15,959 |
259,765 |
United
International Transportation Co. |
52,923 |
949,365 |
|
|
26,841,585 |
South
Africa — 3.8% | ||
Absa
Group Ltd. |
56,210 |
512,896 |
Anglo
American plc |
60,726 |
1,547,275 |
AVI
Ltd. |
279,426 |
1,044,776 |
Bid
Corp. Ltd. |
198,304 |
4,206,971 |
Bidvest
Group Ltd. (The) |
157,528 |
2,229,777 |
Capitec
Bank Holdings Ltd. |
48,129 |
4,276,486 |
Clicks
Group Ltd. |
163,375 |
2,407,475 |
FirstRand
Ltd. |
1,784,256 |
5,882,152 |
Gold
Fields Ltd. |
38,237 |
504,420 |
MTN
Group Ltd. |
123,577 |
603,248 |
Naspers
Ltd., Class N * |
14,607 |
2,280,165 |
Sanlam
Ltd. |
611,517 |
2,144,862 |
Shoprite
Holdings Ltd. |
82,977 |
1,063,308 |
Sibanye
Stillwater Ltd. |
137,117 |
174,900 |
Standard
Bank Group Ltd. |
264,115 |
2,591,763 |
Truworths
International Ltd. |
71,946 |
291,451 |
Vodacom
Group Ltd. |
347,938 |
1,894,127 |
|
|
33,656,052 |
South
Korea — 12.4% | ||
AfreecaTV
Co. Ltd. |
10,696 |
532,592 |
BGF
retail Co. Ltd. |
12,777 |
1,306,597 |
CJ
CheilJedang Corp. |
3,887 |
814,314 |
Coupang,
Inc. * |
30,855 |
524,535 |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
27
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
South
Korea — continued | ||
Coway
Co. Ltd. |
14,706 |
470,604 |
DB
Insurance Co. Ltd. |
5,600 |
364,330 |
Eugene
Technology Co. Ltd. |
27,952 |
792,780 |
HAESUNG
DS Co. Ltd. |
7,100 |
233,617 |
Hana
Financial Group, Inc. |
85,453 |
2,484,698 |
Hankook
Tire & Technology Co. Ltd. |
48,131 |
1,365,550 |
Hansol
Chemical Co. Ltd. |
2,886 |
322,064 |
HK
inno N Corp. |
16,246 |
521,237 |
HL
Mando Co. Ltd. |
6,679 |
162,655 |
Hotel
Shilla Co. Ltd. |
10,222 |
472,980 |
HSD
Engine Co. Ltd. * |
51,335 |
291,984 |
Hugel,
Inc. * |
13,623 |
1,437,259 |
Hyundai
Glovis Co. Ltd. |
7,005 |
889,011 |
Hyundai
Marine & Fire Insurance Co. Ltd. |
30,307 |
706,971 |
Hyundai
Mobis Co. Ltd. |
19,256 |
2,982,076 |
Hyundai
Motor Co. |
16,438 |
2,070,928 |
Industrial
Bank of Korea |
86,102 |
712,578 |
KakaoBank
Corp. |
12,999 |
175,919 |
KB
Financial Group, Inc. |
159,995 |
6,098,732 |
Kia
Corp. |
78,363 |
4,476,992 |
KIWOOM
Securities Co. Ltd. |
13,799 |
825,030 |
Korea
Investment Holdings Co. Ltd. |
18,480 |
690,849 |
Korean
Air Lines Co. Ltd. |
37,131 |
564,955 |
Kumho
Petrochemical Co. Ltd. |
4,980 |
468,053 |
LG
Chem Ltd. |
15,678 |
5,138,342 |
LG
Energy Solution Ltd. * |
4,384 |
1,256,756 |
LG
H&H Co. Ltd. |
5,251 |
1,231,067 |
Lotte
Chemical Corp. |
2,180 |
236,741 |
NAVER
Corp. |
26,911 |
3,762,243 |
NCSoft
Corp. |
12,422 |
2,146,110 |
Nexon
Games Co. Ltd. * |
18,568 |
207,190 |
Orion
Corp. |
4,466 |
395,264 |
Pan
Ocean Co. Ltd. |
107,737 |
343,962 |
POSCO
Holdings, Inc. |
3,020 |
924,498 |
Samsung
Biologics Co. Ltd. *
(a) |
4,011 |
2,108,610 |
Samsung
C&T Corp. |
19,732 |
1,560,125 |
Samsung
Electro-Mechanics Co. Ltd. |
17,957 |
1,660,325 |
Samsung
Electronics Co. Ltd. |
629,648 |
31,340,652 |
Samsung
Engineering Co. Ltd. * |
23,145 |
407,922 |
Samsung
Fire & Marine Insurance Co. Ltd. |
6,857 |
1,311,213 |
Samsung
Life Insurance Co. Ltd. |
11,792 |
631,336 |
Samsung
SDS Co. Ltd. |
3,149 |
322,788 |
Samsung
Securities Co. Ltd. |
7,240 |
189,662 |
Shinhan
Financial Group Co. Ltd. |
108,557 |
2,790,373 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
South
Korea — continued | ||
SK
Hynix, Inc. |
130,133 |
11,301,026 |
SK
IE Technology Co. Ltd. *
(a) |
3,911 |
172,455 |
SK
Innovation Co. Ltd. * |
11,285 |
1,028,115 |
SK
Telecom Co. Ltd. |
64,403 |
2,348,580 |
SK,
Inc. |
13,291 |
1,401,283 |
SKC
Co. Ltd. |
16,422 |
960,386 |
SM
Entertainment Co. Ltd. |
6,457 |
484,240 |
S-Oil
Corp. |
34,882 |
1,721,517 |
ST
Pharm Co. Ltd. |
5,469 |
275,999 |
YG
Entertainment, Inc. |
8,638 |
352,570 |
Yuhan
Corp. |
7,945 |
338,681 |
|
|
111,109,921 |
Spain
— 0.0% ^ | ||
Banco
Bilbao Vizcaya Argentaria SA |
45,508 |
358,022 |
Switzerland
— 0.0% ^ | ||
Wizz
Air Holdings plc *
(a) |
10,035 |
189,170 |
Taiwan
— 15.0% | ||
Accton
Technology Corp. |
301,000 |
4,663,776 |
Advantech
Co. Ltd. |
438,629 |
4,504,606 |
ASE
Technology Holding Co. Ltd. |
750,000 |
2,625,736 |
Asia
Vital Components Co. Ltd. |
64,000 |
565,518 |
ASMedia
Technology, Inc. |
19,000 |
777,602 |
ASPEED
Technology, Inc. |
13,500 |
1,078,889 |
AUO
Corp. |
865,000 |
418,699 |
Cathay
Financial Holding Co. Ltd. |
1,157,000 |
1,570,107 |
Chailease
Holding Co. Ltd. |
492,974 |
2,674,162 |
China
Airlines Ltd. |
441,000 |
264,360 |
China
Steel Corp. |
2,632,000 |
1,963,614 |
Chroma
ATE, Inc. |
83,000 |
560,881 |
Chunghwa
Telecom Co. Ltd. |
312,000 |
1,115,881 |
CTBC
Financial Holding Co. Ltd. |
3,138,000 |
2,363,238 |
Delta
Electronics, Inc. |
620,000 |
5,587,373 |
E.Sun
Financial Holding Co. Ltd. |
3,379,013 |
2,489,790 |
Eclat
Textile Co. Ltd. |
153,000 |
2,435,185 |
eMemory
Technology, Inc. |
29,000 |
1,816,892 |
Faraday
Technology Corp. |
147,000 |
1,385,935 |
Feng
TAY Enterprise Co. Ltd. |
77,520 |
428,052 |
Fubon
Financial Holding Co. Ltd. |
1,641,930 |
3,053,324 |
Global
Unichip Corp. |
46,000 |
2,055,879 |
Hon
Hai Precision Industry Co. Ltd. |
1,243,000 |
3,710,000 |
Jentech
Precision Industrial Co. Ltd. |
20,000 |
356,660 |
Largan
Precision Co. Ltd. |
39,000 |
2,497,827 |
Lite-On
Technology Corp. |
260,000 |
809,513 |
28
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Taiwan
— continued | ||
Makalot
Industrial Co. Ltd. |
70,000 |
783,471 |
MediaTek,
Inc. |
121,000 |
3,158,023 |
Mega
Financial Holding Co. Ltd. |
1,444,824 |
1,639,491 |
Micro-Star
International Co. Ltd. |
173,000 |
885,644 |
Nan
Ya Plastics Corp. |
584,000 |
1,117,380 |
Nien
Made Enterprise Co. Ltd. |
83,000 |
734,330 |
Novatek
Microelectronics Corp. |
389,000 |
5,478,316 |
Nuvoton
Technology Corp. |
87,000 |
343,290 |
President
Chain Store Corp. |
402,000 |
3,197,649 |
Primax
Electronics Ltd. |
168,000 |
358,803 |
Quanta
Computer, Inc. |
515,000 |
3,040,718 |
Realtek
Semiconductor Corp. |
456,000 |
5,683,070 |
Taiwan
Cement Corp. |
531,961 |
530,055 |
Taiwan
Semiconductor Manufacturing Co. Ltd. |
2,915,000 |
47,609,293 |
Unimicron
Technology Corp. |
286,000 |
1,275,536 |
United
Microelectronics Corp. |
927,000 |
1,333,132 |
Vanguard
International Semiconductor Corp. |
1,030,000 |
2,236,875 |
Wiwynn
Corp. |
52,000 |
2,463,924 |
Yageo
Corp. |
69,000 |
1,124,945 |
|
|
134,767,444 |
Thailand
— 1.6% | ||
Advanced
Info Service PCL |
129,100 |
790,726 |
Airports
of Thailand PCL * |
519,500 |
964,512 |
Bangkok
Bank PCL, NVDR |
102,700 |
450,042 |
Bangkok
Dusit Medical Services PCL, Class F |
803,900 |
592,035 |
Bumrungrad
Hospital PCL, NVDR |
39,400 |
284,764 |
Central
Pattana PCL, NVDR |
207,000 |
360,106 |
Central
Retail Corp. PCL, NVDR |
175,900 |
179,898 |
CP
ALL PCL |
390,800 |
597,005 |
Delta
Electronics Thailand PCL, NVDR |
204,200 |
448,882 |
Gulf
Energy Development PCL |
258,900 |
311,596 |
Intouch
Holdings PCL, NVDR |
129,200 |
255,205 |
Kasikornbank
PCL, NVDR |
71,900 |
262,956 |
Krung
Thai Bank PCL, NVDR |
1,360,400 |
711,305 |
Minor
International PCL, NVDR |
229,200 |
178,611 |
PTT
Exploration & Production PCL |
573,200 |
2,617,707 |
PTT
Global Chemical PCL |
181,100 |
173,933 |
PTT
PCL |
726,400 |
668,295 |
SCB
X PCL |
924,700 |
2,517,888 |
Siam
Cement PCL (The) (Registered) |
232,900 |
1,865,667 |
Thai
Oil PCL |
365,163 |
478,109 |
|
|
14,709,242 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Turkey
— 0.1% | ||
BIM
Birlesik Magazalar A/S |
55,307 |
531,211 |
Ford
Otomotiv Sanayi A/S |
12,352 |
342,961 |
KOC
Holding A/S |
32,954 |
159,401 |
|
|
1,033,573 |
United
Arab Emirates — 0.9% | ||
Abu
Dhabi Commercial Bank PJSC |
99,439 |
217,396 |
Abu
Dhabi Islamic Bank PJSC |
252,159 |
707,116 |
ADNOC
Drilling Co. PJSC |
392,242 |
388,718 |
Adnoc
Gas plc * |
376,837 |
329,335 |
ADNOC
Logistics & Services |
343,745 |
315,388 |
Aldar
Properties PJSC |
672,799 |
952,506 |
Dubai
Electricity & Water Authority PJSC |
1,957,379 |
1,268,326 |
Dubai
Islamic Bank PJSC |
173,313 |
254,803 |
Emaar
Properties PJSC |
729,118 |
1,328,296 |
Emirates
NBD Bank PJSC |
171,187 |
789,986 |
Fertiglobe
plc |
606,975 |
530,760 |
First
Abu Dhabi Bank PJSC |
391,879 |
1,352,852 |
|
|
8,435,482 |
United
Kingdom — 0.2% | ||
Anglogold
Ashanti plc |
17,198 |
317,461 |
Endava
plc, ADR * |
3,073 |
154,142 |
HSBC
Holdings plc |
130,400 |
936,927 |
|
|
1,408,530 |
United
States — 0.9% | ||
EPAM
Systems, Inc. * |
6,421 |
1,397,017 |
ExlService
Holdings, Inc. * |
32,622 |
851,760 |
Genpact
Ltd. |
73,155 |
2,453,619 |
Globant
SA * |
11,472 |
1,953,567 |
Parade
Technologies Ltd. |
53,400 |
1,750,820 |
|
|
8,406,783 |
Total
Common Stocks
(Cost
$1,019,540,494) |
|
890,908,307 |
Short-Term
Investments — 0.6% | ||
Investment
Companies — 0.6% | ||
JPMorgan
Prime Money Market Fund Class IM
Shares,
5.49% (b)
(c)(Cost
$4,916,176) |
4,914,673 |
4,916,639 |
Total
Investments — 99.9%
(Cost
$1,024,456,670) |
|
895,824,946 |
Other
Assets Less Liabilities — 0.1% |
|
1,125,029 |
NET
ASSETS — 100.0% |
|
896,949,975 |
Percentages
indicated are based on net
assets. |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
29
|
Abbreviations |
|
ADR |
American
Depositary Receipt |
APAC |
Asia
Pacific |
GDR |
Global
Depositary Receipt |
JSC |
Joint
Stock Company |
NVDR |
Non-Voting
Depositary Receipt |
PJSC |
Public
Joint Stock Company |
Preference |
A
special type of equity investment that shares in the earnings of
the
company, has limited voting rights, and may have a dividend
preference.
Preference shares may also have liquidation
preference. |
PT |
Limited
liability company |
RTS |
Russian
Trading System |
SGPS |
Holding
company |
^ |
Amount
rounds to less than 0.1% of net assets. | |
‡ |
Value
determined using significant unobservable
inputs. |
|
* |
Non-income
producing security.
|
|
(a) |
Security
exempt from registration pursuant to
Regulation
S under the Securities Act of 1933, as
amended.
Regulation S applies to securities offerings
that
are made outside of the United States and do not
involve
direct selling efforts in the United States and
as
such may have restrictions on resale. |
|
(b) |
Investment
in an affiliated fund, which is registered
under
the Investment Company Act of 1940, as
amended,
and is advised by J.P. Morgan Investment
Management
Inc. |
|
(c) |
The
rate shown is the current yield as of October 31,
2023. |
|
INDUSTRY |
PERCENT
OF
TOTAL
INVESTMENTS |
Banks |
17.3
% |
Semiconductors
& Semiconductor Equipment |
10.8 |
Technology
Hardware, Storage & Peripherals |
4.9 |
Insurance |
4.5 |
Broadline
Retail |
4.4 |
Interactive
Media & Services |
4.3 |
Oil,
Gas & Consumable Fuels |
3.9 |
IT
Services |
3.8 |
Consumer
Staples Distribution & Retail |
3.5 |
Beverages |
2.9 |
Hotels,
Restaurants & Leisure |
2.5 |
Electronic
Equipment, Instruments & Components |
2.5 |
Food
Products |
2.2 |
Chemicals |
1.9 |
Household
Durables |
1.9 |
Automobiles |
1.8 |
Entertainment |
1.8 |
Metals
& Mining |
1.7 |
Automobile
Components |
1.4 |
Capital
Markets |
1.4 |
Machinery |
1.2 |
Real
Estate Management & Development |
1.2 |
Personal
Care Products |
1.2 |
Wireless
Telecommunication Services |
1.1 |
Electrical
Equipment |
1.1 |
Financial
Services |
1.0 |
Others
(each less than 1.0%) |
13.3 |
Short-Term
Investments |
0.5 |
30
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — 98.8% | ||
Canada
— 0.6% | ||
Toronto-Dominion
Bank (The) |
82,176 |
4,590,123 |
China
— 0.9% | ||
NXP
Semiconductors NV |
46,052 |
7,940,746 |
Denmark
— 2.1% | ||
Novo
Nordisk A/S, Class B |
185,672 |
17,912,936 |
France
— 6.6% | ||
Legrand
SA |
109,654 |
9,485,771 |
LVMH
Moet Hennessy Louis Vuitton SE |
26,129 |
18,706,550 |
Safran
SA |
82,603 |
12,904,203 |
Vinci
SA |
132,313 |
14,630,431 |
|
|
55,726,955 |
Germany
— 2.0% | ||
Muenchener
Rueckversicherungs-Gesellschaft
AG
(Registered) |
22,661 |
9,094,038 |
RWE
AG |
201,755 |
7,720,242 |
|
|
16,814,280 |
Hong
Kong — 0.6% | ||
AIA
Group Ltd. |
585,400 |
5,083,501 |
India
— 0.9% | ||
HDFC
Bank Ltd., ADR |
136,695 |
7,730,102 |
Japan
— 2.8% | ||
Hoya
Corp. |
56,200 |
5,410,297 |
Japan
Exchange Group, Inc. |
242,100 |
4,787,479 |
Shin-Etsu
Chemical Co. Ltd. |
292,500 |
8,746,738 |
Tokio
Marine Holdings, Inc. |
219,200 |
4,903,994 |
|
|
23,848,508 |
Mexico
— 0.7% | ||
Wal-Mart
de Mexico SAB de CV |
1,613,257 |
5,780,487 |
Netherlands
— 3.4% | ||
ASML
Holding NV |
22,577 |
13,571,496 |
Shell
plc |
472,223 |
15,218,261 |
|
|
28,789,757 |
Singapore
— 1.3% | ||
DBS
Group Holdings Ltd. |
438,400 |
10,531,829 |
South
Korea — 1.2% | ||
Samsung
Electronics Co. Ltd. |
195,906 |
9,751,197 |
Sweden
— 0.9% | ||
Volvo
AB, Class B |
385,239 |
7,633,586 |
Switzerland
— 0.7% | ||
Zurich
Insurance Group AG |
11,695 |
5,555,038 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Taiwan
— 2.9% | ||
Taiwan
Semiconductor Manufacturing Co. Ltd.,
ADR |
283,802 |
24,494,951 |
United
Kingdom — 3.7% | ||
AstraZeneca
plc |
71,637 |
8,969,222 |
BP
plc |
1,147,667 |
7,007,677 |
RELX
plc |
281,511 |
9,832,536 |
SSE
plc |
251,464 |
4,997,487 |
|
|
30,806,922 |
United
States — 67.5% | ||
AbbVie,
Inc. |
83,451 |
11,781,612 |
Adobe,
Inc. * |
22,227 |
11,826,098 |
Advanced
Micro Devices, Inc. * |
58,483 |
5,760,576 |
Amazon.com,
Inc. * |
334,815 |
44,560,528 |
Analog
Devices, Inc. |
58,733 |
9,240,463 |
Apple,
Inc. |
127,928 |
21,846,265 |
Bank
of America Corp. |
338,546 |
8,917,302 |
Boston
Scientific Corp. * |
65,060 |
3,330,421 |
Bristol-Myers
Squibb Co. |
78,361 |
4,037,942 |
Charles
Schwab Corp. (The) |
117,578 |
6,118,759 |
Charter
Communications, Inc., Class A * |
8,042 |
3,239,318 |
Chevron
Corp. |
51,171 |
7,457,150 |
CME
Group, Inc. |
122,991 |
26,253,659 |
Coca-Cola
Co. (The) |
473,233 |
26,732,932 |
ConocoPhillips |
66,524 |
7,903,051 |
Deere
& Co. |
35,087 |
12,819,386 |
Dow,
Inc. |
147,659 |
7,137,836 |
EOG
Resources, Inc. |
57,750 |
7,290,937 |
Hilton
Worldwide Holdings, Inc. |
62,731 |
9,505,628 |
Johnson
& Johnson |
62,587 |
9,284,156 |
Marriott
International, Inc., Class A |
19,007 |
3,583,960 |
Mastercard,
Inc., Class A |
60,273 |
22,683,744 |
McDonald's
Corp. |
64,408 |
16,885,845 |
Meta
Platforms, Inc., Class A * |
78,946 |
23,784,061 |
Microsoft
Corp. |
183,485 |
62,038,113 |
NextEra
Energy, Inc. |
182,017 |
10,611,591 |
NVIDIA
Corp. |
52,631 |
21,462,922 |
Progressive
Corp. (The) |
144,179 |
22,793,258 |
Prologis,
Inc., REIT |
152,779 |
15,392,484 |
Public
Service Enterprise Group, Inc. |
105,992 |
6,534,407 |
Regeneron
Pharmaceuticals, Inc. * |
17,545 |
13,683,170 |
Roche
Holding AG |
35,092 |
9,043,547 |
Ross
Stores, Inc. |
104,883 |
12,163,282 |
S&P
Global, Inc. |
27,778 |
9,703,133 |
Teradyne,
Inc. |
25,584 |
2,130,380 |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
31
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
United
States — continued | ||
Uber
Technologies, Inc. * |
390,357 |
16,894,651 |
UnitedHealth
Group, Inc. |
65,788 |
35,233,421 |
US
Bancorp |
68,514 |
2,184,226 |
Wells
Fargo & Co. |
126,175 |
5,017,980 |
Yum!
Brands, Inc. |
95,030 |
11,485,326 |
|
|
568,353,520 |
Total
Common Stocks
(Cost
$834,549,991) |
|
831,344,438 |
Short-Term
Investments — 1.3% | ||
Investment
Companies — 1.3% | ||
JPMorgan
Prime Money Market Fund Class IM
Shares,
5.49% (a)
(b)(Cost
$10,930,338) |
10,926,144 |
10,930,514 |
Total
Investments — 100.1%
(Cost
$845,480,329) |
|
842,274,952 |
Liabilities
in Excess of Other Assets — (0.1)% |
|
(598,919
) |
NET
ASSETS — 100.0% |
|
841,676,033 |
Percentages
indicated are based on net
assets. |
Abbreviations |
|
ADR |
American
Depositary Receipt |
REIT |
Real
Estate Investment Trust |
* |
Non-income
producing security.
|
(a) |
Investment
in an affiliated fund, which is registered under the
Investment
Company Act of 1940, as amended, and is advised by
J.P.
Morgan Investment Management Inc. |
(b) |
The
rate shown is the current yield as of October 31,
2023. |
INDUSTRY |
PERCENT
OF
TOTAL
INVESTMENTS |
Semiconductors
& Semiconductor Equipment |
10.1
% |
Software |
8.8 |
Pharmaceuticals |
5.9 |
Insurance |
5.6 |
Capital
Markets |
5.6 |
Oil,
Gas & Consumable Fuels |
5.3 |
Broadline
Retail |
5.3 |
Hotels,
Restaurants & Leisure |
4.9 |
Banks |
4.6 |
Health
Care Providers & Services |
4.2 |
Technology
Hardware, Storage & Peripherals |
3.8 |
Beverages |
3.2 |
Biotechnology |
3.0 |
Interactive
Media & Services |
2.8 |
Financial
Services |
2.7 |
Machinery |
2.4 |
Textiles,
Apparel & Luxury Goods |
2.2 |
Ground
Transportation |
2.0 |
Chemicals |
1.9 |
Electric
Utilities |
1.9 |
Industrial
REITs |
1.8 |
Construction
& Engineering |
1.7 |
Aerospace
& Defense |
1.5 |
Specialty
Retail |
1.4 |
Professional
Services |
1.2 |
Electrical
Equipment |
1.1 |
Health
Care Equipment & Supplies |
1.0 |
Others
(each less than 1.0%) |
2.8 |
Short-Term
Investments |
1.3 |
32
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — 96.4% | ||
Aerospace
& Defense — 1.4% | ||
Howmet
Aerospace, Inc. |
4,105 |
181,031 |
RTX
Corp. |
5,349 |
435,355 |
Textron,
Inc. |
3,327 |
252,852 |
|
|
869,238 |
Air
Freight & Logistics — 1.0% | ||
FedEx
Corp. |
745 |
178,875 |
United
Parcel Service, Inc., Class B |
3,281 |
463,441 |
|
|
642,316 |
Automobile
Components — 0.2% | ||
Aptiv
plc * |
1,334 |
116,325 |
Automobiles
— 1.4% | ||
Tesla,
Inc. *
(a) |
4,223 |
848,147 |
Banks
— 3.3% | ||
Bank
of America Corp. |
25,547 |
672,908 |
Citigroup,
Inc. |
4,402 |
173,835 |
Fifth
Third Bancorp |
5,727 |
135,787 |
Truist
Financial Corp. |
9,416 |
267,038 |
US
Bancorp |
8,762 |
279,332 |
Wells
Fargo & Co. (a) |
12,487 |
496,608 |
|
|
2,025,508 |
Beverages
— 2.2% | ||
Coca-Cola
Co. (The) (a) |
13,428 |
758,548 |
Constellation
Brands, Inc., Class A |
248 |
58,069 |
Monster
Beverage Corp. * |
1,963 |
100,309 |
PepsiCo,
Inc. (a) |
2,520 |
411,466 |
|
|
1,328,392 |
Biotechnology
— 2.9% | ||
AbbVie,
Inc. (a) |
5,331 |
752,631 |
Biogen,
Inc. * |
806 |
191,457 |
BioMarin
Pharmaceutical, Inc. * |
643 |
52,372 |
Neurocrine
Biosciences, Inc. * |
350 |
38,829 |
Regeneron
Pharmaceuticals, Inc. * |
467 |
364,209 |
Sarepta
Therapeutics, Inc. * |
260 |
17,501 |
Vertex
Pharmaceuticals, Inc. * |
1,077 |
389,992 |
|
|
1,806,991 |
Broadline
Retail — 3.8% | ||
Amazon.com,
Inc. *
(a) |
17,780 |
2,366,340 |
Building
Products — 0.9% | ||
Masco
Corp. |
2,602 |
135,538 |
Trane
Technologies plc |
2,249 |
428,007 |
|
|
563,545 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Capital
Markets — 2.5% | ||
Blackstone,
Inc. |
493 |
45,528 |
Charles
Schwab Corp. (The) |
4,233 |
220,285 |
CME
Group, Inc. |
2,060 |
439,728 |
Intercontinental
Exchange, Inc. |
2,002 |
215,095 |
Morgan
Stanley |
3,479 |
246,383 |
Raymond
James Financial, Inc. |
1,315 |
125,504 |
S&P
Global, Inc. |
636 |
222,161 |
State
Street Corp. |
742 |
47,955 |
|
|
1,562,639 |
Chemicals
— 2.1% | ||
Air
Products and Chemicals, Inc. |
658 |
185,845 |
Dow,
Inc. |
5,377 |
259,924 |
Eastman
Chemical Co. |
1,953 |
145,948 |
Linde
plc |
1,141 |
436,045 |
LyondellBasell
Industries NV, Class A |
1,593 |
143,752 |
PPG
Industries, Inc. |
926 |
113,685 |
|
|
1,285,199 |
Commercial
Services & Supplies — 0.2% | ||
Cintas
Corp. |
195 |
98,888 |
Communications
Equipment — 0.2% | ||
Motorola
Solutions, Inc. |
392 |
109,156 |
Consumer
Finance — 0.1% | ||
American
Express Co. |
287 |
41,911 |
Consumer
Staples Distribution & Retail — 1.7% | ||
Costco
Wholesale Corp. |
882 |
487,252 |
Target
Corp. |
822 |
91,069 |
Walmart,
Inc. |
2,894 |
472,909 |
|
|
1,051,230 |
Distributors
— 0.1% | ||
LKQ
Corp. |
1,031 |
45,282 |
Electric
Utilities — 1.8% | ||
Constellation
Energy Corp. |
818 |
92,369 |
NextEra
Energy, Inc. (a) |
7,245 |
422,383 |
PG&E
Corp. * |
21,509 |
350,597 |
Southern
Co. (The) |
3,430 |
230,839 |
|
|
1,096,188 |
Electrical
Equipment — 0.6% | ||
Eaton
Corp. plc |
1,869 |
388,584 |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
33
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Electronic
Equipment, Instruments & Components — 0.2% | ||
Corning,
Inc. |
2,115 |
56,598 |
Keysight
Technologies, Inc. * |
546 |
66,639 |
|
|
123,237 |
Energy
Equipment & Services — 0.1% | ||
Baker
Hughes Co. |
2,445 |
84,157 |
Entertainment
— 0.6% | ||
Netflix,
Inc. * |
737 |
303,416 |
Warner
Bros Discovery, Inc. * |
4,079 |
40,545 |
|
|
343,961 |
Financial
Services — 4.5% | ||
Berkshire
Hathaway, Inc., Class B *
(a) |
2,592 |
884,727 |
FleetCor
Technologies, Inc. * |
930 |
209,408 |
Mastercard,
Inc., Class A (a) |
2,495 |
938,993 |
Visa,
Inc., Class A (a) |
3,084 |
725,049 |
|
|
2,758,177 |
Food
Products — 0.7% | ||
Mondelez
International, Inc., Class A |
6,870 |
454,863 |
Ground
Transportation — 0.9% | ||
CSX
Corp. |
4,012 |
119,758 |
Norfolk
Southern Corp. |
741 |
141,375 |
Uber
Technologies, Inc. * |
2,704 |
117,029 |
Union
Pacific Corp. |
793 |
164,635 |
|
|
542,797 |
Health
Care Equipment & Supplies — 2.4% | ||
Baxter
International, Inc. |
2,642 |
85,680 |
Becton
Dickinson & Co. |
484 |
122,346 |
Boston
Scientific Corp. * |
8,563 |
438,340 |
Dexcom,
Inc. * |
642 |
57,029 |
Intuitive
Surgical, Inc. * |
764 |
200,336 |
Medtronic
plc |
4,352 |
307,077 |
Stryker
Corp. |
965 |
260,762 |
|
|
1,471,570 |
Health
Care Providers & Services — 3.2% | ||
Centene
Corp. * |
2,606 |
179,762 |
CVS
Health Corp. |
1,267 |
87,436 |
Elevance
Health, Inc. |
635 |
285,807 |
Humana,
Inc. |
343 |
179,626 |
McKesson
Corp. |
262 |
119,304 |
UnitedHealth
Group, Inc. (a) |
2,047 |
1,096,291 |
|
|
1,948,226 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Health
Care REITs — 0.3% | ||
Ventas,
Inc. |
4,990 |
211,875 |
Hotels,
Restaurants & Leisure — 2.4% | ||
Booking
Holdings, Inc. * |
144 |
401,697 |
Chipotle
Mexican Grill, Inc. * |
178 |
345,712 |
Domino's
Pizza, Inc. |
142 |
48,136 |
Expedia
Group, Inc. * |
1,493 |
142,268 |
Marriott
International, Inc., Class A |
1,087 |
204,965 |
Royal
Caribbean Cruises Ltd. * |
1,404 |
118,961 |
Yum!
Brands, Inc. |
1,870 |
226,008 |
|
|
1,487,747 |
Household
Durables — 0.3% | ||
Lennar
Corp., Class A |
643 |
68,595 |
Toll
Brothers, Inc. |
1,024 |
72,407 |
Whirlpool
Corp. |
247 |
25,827 |
|
|
166,829 |
Household
Products — 0.9% | ||
Church
& Dwight Co., Inc. |
1,724 |
156,781 |
Procter
& Gamble Co. (The) |
2,598 |
389,778 |
|
|
546,559 |
Industrial
Conglomerates — 1.0% | ||
Honeywell
International, Inc. (a) |
3,475 |
636,828 |
Industrial
REITs — 0.6% | ||
Prologis,
Inc. |
3,883 |
391,212 |
Insurance
— 2.2% | ||
Aflac,
Inc. |
2,053 |
160,360 |
Chubb
Ltd. |
977 |
209,684 |
Globe
Life, Inc. |
1,552 |
180,590 |
Progressive
Corp. (The) |
2,742 |
433,483 |
Travelers
Cos., Inc. (The) |
2,059 |
344,759 |
|
|
1,328,876 |
Interactive
Media & Services — 5.7% | ||
Alphabet,
Inc., Class A *
(a) |
10,003 |
1,241,172 |
Alphabet,
Inc., Class C *
(a) |
7,357 |
921,832 |
Meta
Platforms, Inc., Class A *
(a) |
4,462 |
1,344,267 |
|
|
3,507,271 |
IT
Services — 1.1% | ||
Accenture
plc, Class A |
1,420 |
421,868 |
Cognizant
Technology Solutions Corp., Class A |
4,087 |
263,489 |
|
|
685,357 |
34
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Life
Sciences Tools & Services — 1.1% | ||
Danaher
Corp. |
1,791 |
343,908 |
Thermo
Fisher Scientific, Inc. |
755 |
335,801 |
|
|
679,709 |
Machinery
— 1.8% | ||
Deere
& Co. |
1,441 |
526,483 |
Dover
Corp. |
1,023 |
132,939 |
Otis
Worldwide Corp. |
3,971 |
306,601 |
Parker-Hannifin
Corp. |
356 |
131,332 |
|
|
1,097,355 |
Media
— 1.3% | ||
Charter
Communications, Inc., Class A * |
675 |
271,890 |
Comcast
Corp., Class A (a) |
12,664 |
522,897 |
|
|
794,787 |
Metals
& Mining — 0.1% | ||
Nucor
Corp. |
599 |
88,526 |
Multi-Utilities
— 0.7% | ||
CenterPoint
Energy, Inc. |
2,041 |
54,862 |
Public
Service Enterprise Group, Inc. |
6,035 |
372,058 |
|
|
426,920 |
Oil,
Gas & Consumable Fuels — 4.3% | ||
Chevron
Corp. |
1,872 |
272,807 |
ConocoPhillips |
5,297 |
629,284 |
Diamondback
Energy, Inc. |
1,796 |
287,935 |
EOG
Resources, Inc. (a) |
3,525 |
445,031 |
Exxon
Mobil Corp. (a) |
9,190 |
972,761 |
Marathon
Oil Corp. |
1,103 |
30,123 |
|
|
2,637,941 |
Passenger
Airlines — 0.1% | ||
Delta
Air Lines, Inc. |
2,451 |
76,594 |
Personal
Care Products — 0.3% | ||
Kenvue,
Inc. |
8,340 |
155,124 |
Pharmaceuticals
— 3.2% | ||
Bristol-Myers
Squibb Co. |
8,821 |
454,546 |
Eli
Lilly & Co. (a) |
1,258 |
696,844 |
Johnson
& Johnson |
3,450 |
511,773 |
Merck
& Co., Inc. |
2,941 |
302,041 |
|
|
1,965,204 |
Professional
Services — 0.2% | ||
Leidos
Holdings, Inc. |
1,432 |
141,940 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Residential
REITs — 0.5% | ||
Equity
LifeStyle Properties, Inc. |
1,675 |
110,215 |
Sun
Communities, Inc. |
856 |
95,221 |
UDR,
Inc. |
3,328 |
105,864 |
|
|
311,300 |
Semiconductors
& Semiconductor Equipment — 7.2% | ||
Advanced
Micro Devices, Inc. * |
4,472 |
440,492 |
Analog
Devices, Inc. (a) |
2,656 |
417,868 |
Lam
Research Corp. |
830 |
488,223 |
NVIDIA
Corp. (a) |
4,567 |
1,862,423 |
NXP
Semiconductors NV (China) |
2,723 |
469,527 |
Qorvo,
Inc. * |
1,170 |
102,281 |
Teradyne,
Inc. |
1,470 |
122,407 |
Texas
Instruments, Inc. |
3,845 |
546,028 |
|
|
4,449,249 |
Software
— 10.6% | ||
Adobe,
Inc. * |
1,341 |
713,493 |
Cadence
Design Systems, Inc. * |
500 |
119,925 |
Intuit,
Inc. |
820 |
405,859 |
Microsoft
Corp. (a) |
13,533 |
4,575,643 |
Oracle
Corp. |
2,656 |
274,630 |
Salesforce,
Inc. * |
1,040 |
208,863 |
ServiceNow,
Inc. * |
411 |
239,140 |
|
|
6,537,553 |
Specialized
REITs — 0.6% | ||
Digital
Realty Trust, Inc. |
1,516 |
188,530 |
SBA
Communications Corp. |
934 |
194,860 |
|
|
383,390 |
Specialty
Retail — 2.5% | ||
AutoNation,
Inc. * |
729 |
94,828 |
AutoZone,
Inc. * |
138 |
341,844 |
Best
Buy Co., Inc. |
2,447 |
163,509 |
Burlington
Stores, Inc. * |
734 |
88,836 |
Lowe's
Cos., Inc. |
2,963 |
564,659 |
O'Reilly
Automotive, Inc. * |
96 |
89,322 |
TJX
Cos., Inc. (The) |
2,260 |
199,038 |
|
|
1,542,036 |
Technology
Hardware, Storage & Peripherals — 7.3% | ||
Apple,
Inc. (a) |
25,046 |
4,277,105 |
Seagate
Technology Holdings plc |
3,147 |
214,783 |
|
|
4,491,888 |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
35
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Textiles,
Apparel & Luxury Goods — 0.4% | ||
NIKE,
Inc., Class B |
2,656 |
272,957 |
Tobacco
— 0.4% | ||
Altria
Group, Inc. |
1,773 |
71,222 |
Philip
Morris International, Inc. |
1,858 |
165,659 |
|
|
236,881 |
Trading
Companies & Distributors — 0.1% | ||
United
Rentals, Inc. |
110 |
44,690 |
Wireless
Telecommunication Services — 0.2% | ||
T-Mobile
US, Inc. * |
697 |
100,270 |
Total
Common Stocks
(Cost
$60,358,455) |
|
59,369,735 |
INVESTMENTS |
NO.
OF
CONTRACTS |
|
Options
Purchased — 1.0% | ||
Put
Options Purchased — 1.0% | ||
SPDR
S&P 500 ETF Trust |
|
|
12/1/2023
at USD 410.00 , American |
|
|
Notional
Amount: USD 19,780,860 |
|
|
Counterparty:
Exchange-Traded *
|
473 |
212,377 |
12/29/2023
at USD 405.00 , American |
|
|
Notional
Amount: USD 19,780,860 |
|
|
Counterparty:
Exchange-Traded *
|
473 |
289,003 |
11/3/2023
at USD 415.00 , American |
|
|
Notional
Amount: USD 19,780,860 |
|
|
Counterparty:
Exchange-Traded *
|
473 |
88,924 |
Total
Put Options Purchased
(Cost
$625,568) |
|
590,304 |
INVESTMENTS |
SHARES |
VALUE($) |
Short-Term
Investments — 0.7% | ||
Investment
Companies — 0.7% | ||
JPMorgan
U.S. Government Money Market Fund
Class
IM Shares, 5.29% (b)
(c)
(Cost
$451,185) |
451,185 |
451,185 |
Total
Investments — 98.1%
(Cost
$61,435,208) |
|
60,411,224 |
Other
Assets Less Liabilities — 1.9% |
|
1,182,591 |
NET
ASSETS — 100.0% |
|
61,593,815 |
Percentages
indicated are based on net
assets. |
Abbreviations |
|
ETF |
Exchange
Traded Fund |
REIT |
Real
Estate Investment Trust |
SPDR |
Standard
& Poor's Depositary Receipt |
USD |
United
States Dollar |
* |
Non-income
producing security.
|
(a) |
All
or a portion of the security is segregated for options
written. |
(b) |
Investment
in an affiliated fund, which is registered under the
Investment
Company Act of 1940, as amended, and is advised by
J.P.
Morgan Investment Management Inc. |
(c) |
The
rate shown is the current yield as of October 31,
2023. |
DESCRIPTION |
NUMBER
OF
CONTRACTS |
EXPIRATION
DATE |
TRADING
CURRENCY |
NOTIONAL
AMOUNT
($) |
VALUE
AND
UNREALIZED
APPRECIATION
(DEPRECIATION)
($) |
Long
Contracts |
|
|
|
|
|
S&P
500 E-Mini Index |
4 |
12/15/2023 |
USD |
842,350 |
(21
) |
Abbreviations |
|
USD |
United
States Dollar |
36
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
Written
Call Options Contracts as of October 31, 2023
| ||||||
DESCRIPTION |
COUNTERPARTY |
NUMBER
OF
CONTRACTS |
NOTIONAL
AMOUNT |
EXERCISE
PRICE |
EXPIRATION
DATE |
VALUE
($) |
SPDR
S&P 500 ETF Trust |
Exchange-Traded |
473 |
USD
19,780,860 |
USD
441.00 |
11/03/2023 |
(946
) |
SPDR
S&P 500 ETF Trust |
Exchange-Traded |
473 |
USD
19,780,860 |
USD
447.50 |
12/01/2023 |
(14,663
) |
SPDR
S&P 500 ETF Trust |
Exchange-Traded |
473 |
USD
19,780,860 |
USD
451.00 |
12/29/2023 |
(37,840
) |
|
(53,449
) | |||||
Written
Put Options Contracts as of October 31, 2023
| ||||||
DESCRIPTION |
COUNTERPARTY |
NUMBER
OF
CONTRACTS |
NOTIONAL
AMOUNT |
EXERCISE
PRICE |
EXPIRATION
DATE |
VALUE
($) |
SPDR
S&P 500 ETF Trust |
Exchange-Traded |
473 |
USD
19,780,860 |
USD
350.00 |
11/03/2023 |
(946
) |
SPDR
S&P 500 ETF Trust |
Exchange-Traded |
473 |
USD
19,780,860 |
USD
345.00 |
12/01/2023 |
(10,879
) |
SPDR
S&P 500 ETF Trust |
Exchange-Traded |
473 |
USD
19,780,860 |
USD
342.00 |
12/29/2023 |
(28,853
) |
|
|
|
|
|
|
(40,678
) |
Total
Written Options Contracts (Premiums Received
$582,518) |
(94,127
) |
Abbreviations |
|
ETF |
Exchange
Traded Fund |
SPDR |
Standard
& Poor's Depositary Receipt |
USD |
United
States Dollar |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
37
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — 98.6% | ||
Australia
— 2.1% | ||
QBE
Insurance Group Ltd. |
75,535 |
749,013 |
Woodside
Energy Group Ltd. |
46,686 |
1,016,812 |
|
|
1,765,825 |
Belgium
— 0.7% | ||
KBC
Group NV |
10,022 |
551,559 |
Brazil
— 1.6% | ||
MercadoLibre,
Inc. * |
365 |
452,870 |
NU
Holdings Ltd., Class A * |
102,679 |
841,968 |
|
|
1,294,838 |
Canada
— 5.5% | ||
Alimentation
Couche-Tard, Inc. |
28,584 |
1,556,017 |
Canadian
National Railway Co. |
16,709 |
1,767,955 |
Canadian
Pacific Kansas City Ltd. |
17,001 |
1,207,080 |
|
|
4,531,052 |
China
— 8.0% | ||
ANTA
Sports Products Ltd. |
69,600 |
787,141 |
JD.com,
Inc., ADR |
31,393 |
798,010 |
NXP
Semiconductors NV |
5,798 |
999,749 |
Tencent
Holdings Ltd. |
83,300 |
3,082,829 |
Yum
China Holdings, Inc. |
17,100 |
896,075 |
|
|
6,563,804 |
Denmark
— 3.3% | ||
Genmab
A/S * |
1,037 |
293,142 |
Novo
Nordisk A/S, Class B |
24,705 |
2,383,446 |
|
|
2,676,588 |
France
— 11.1% | ||
Air
Liquide SA |
12,223 |
2,094,439 |
Airbus
SE |
11,354 |
1,522,301 |
L'Oreal
SA |
807 |
339,207 |
LVMH
Moet Hennessy Louis Vuitton SE |
2,524 |
1,807,009 |
Safran
SA |
13,008 |
2,032,104 |
Vinci
SA |
11,569 |
1,279,235 |
|
|
9,074,295 |
Germany
— 3.7% | ||
Beiersdorf
AG |
5,091 |
669,569 |
Deutsche
Boerse AG |
7,713 |
1,269,532 |
Deutsche
Post AG |
21,657 |
845,565 |
Zalando
SE *
(a) |
11,713 |
273,973 |
|
|
3,058,639 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Hong
Kong — 1.0% | ||
AIA
Group Ltd. |
41,600 |
361,247 |
Hong
Kong Exchanges & Clearing Ltd. |
12,500 |
437,283 |
|
|
798,530 |
India
— 1.9% | ||
HDFC
Bank Ltd., ADR |
19,423 |
1,098,370 |
WNS
Holdings Ltd., ADR * |
8,665 |
470,683 |
|
|
1,569,053 |
Indonesia
— 2.5% | ||
Bank
Central Asia Tbk. PT |
2,245,200 |
1,236,927 |
Telkom
Indonesia Persero Tbk. PT, ADR |
36,031 |
792,682 |
|
|
2,029,609 |
Italy
— 0.4% | ||
Ferrari
NV |
1,135 |
343,569 |
Japan
— 14.7% | ||
Ajinomoto
Co., Inc. |
16,100 |
588,015 |
Daikin
Industries Ltd. |
9,900 |
1,427,372 |
Hoya
Corp. |
12,700 |
1,222,611 |
Keyence
Corp. |
4,700 |
1,819,458 |
Otsuka
Corp. |
18,900 |
757,788 |
Recruit
Holdings Co. Ltd. |
39,300 |
1,126,837 |
Seven
& i Holdings Co. Ltd. |
19,200 |
703,463 |
Shimano,
Inc. |
5,500 |
791,484 |
Shin-Etsu
Chemical Co. Ltd. |
40,400 |
1,208,097 |
Sony
Group Corp. |
20,400 |
1,696,033 |
Terumo
Corp. |
26,700 |
730,464 |
|
|
12,071,622 |
Mexico
— 1.2% | ||
Wal-Mart
de Mexico SAB de CV |
283,506 |
1,015,835 |
Netherlands
— 5.4% | ||
Adyen
NV *
(a) |
166 |
111,965 |
Argenx
SE * |
1,628 |
765,781 |
Argenx
SE * |
424 |
205,295 |
ASML
Holding NV |
4,477 |
2,691,216 |
Wolters
Kluwer NV |
5,444 |
698,498 |
|
|
4,472,755 |
Singapore
— 1.6% | ||
DBS
Group Holdings Ltd. |
53,500 |
1,285,248 |
South
Korea — 0.6% | ||
LG
Chem Ltd. |
1,555 |
509,639 |
38
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Spain
— 2.5% | ||
Iberdrola
SA |
72,999 |
811,896 |
Industria
de Diseno Textil SA |
36,149 |
1,247,790 |
|
|
2,059,686 |
Sweden
— 3.3% | ||
Atlas
Copco AB, Class A |
115,014 |
1,489,319 |
Epiroc
AB, Class A |
9,335 |
153,792 |
Evolution
AB (a) |
5,415 |
482,506 |
Volvo
AB, Class B |
28,682 |
568,339 |
|
|
2,693,956 |
Switzerland
— 1.4% | ||
Cie
Financiere Richemont SA (Registered) |
9,876 |
1,165,126 |
Taiwan
— 5.1% | ||
Taiwan
Semiconductor Manufacturing Co. Ltd.,
ADR |
48,428 |
4,179,821 |
United
Kingdom — 11.4% | ||
3i
Group plc |
64,033 |
1,509,744 |
AstraZeneca
plc |
14,185 |
1,776,015 |
Diageo
plc |
34,408 |
1,301,174 |
InterContinental
Hotels Group plc |
23,262 |
1,648,405 |
London
Stock Exchange Group plc |
14,614 |
1,474,481 |
RELX
plc |
47,161 |
1,645,457 |
|
|
9,355,276 |
United
States — 9.6% | ||
Cadence
Design Systems, Inc. * |
3,993 |
957,721 |
ExlService
Holdings, Inc. * |
18,835 |
491,782 |
Las
Vegas Sands Corp. |
18,527 |
879,292 |
Linde
plc |
4,478 |
1,710,863 |
Nestle
SA (Registered) |
28,066 |
3,026,603 |
Sanofi
SA |
9,022 |
819,254 |
|
|
7,885,515 |
Total
Common Stocks
(Cost
$81,505,461) |
|
80,951,840 |
Short-Term
Investments — 1.3% | ||
Investment
Companies — 1.3% | ||
JPMorgan
U.S. Government Money Market Fund
Class
IM Shares, 5.29% (b)
(c)(Cost
$1,033,189) |
1,033,189 |
1,033,189 |
INVESTMENTS |
SHARES |
VALUE($) |
Total
Investments — 99.9%
(Cost
$82,538,650) |
|
81,985,029 |
Other
Assets Less Liabilities — 0.1% |
|
119,998 |
NET
ASSETS — 100.0% |
|
82,105,027 |
Percentages
indicated are based on net
assets. |
Abbreviations |
|
ADR |
American
Depositary Receipt |
PT |
Limited
liability company |
* |
Non-income
producing security.
|
(a) |
Security
exempt from registration pursuant to Regulation S under
the
Securities Act of 1933, as amended. Regulation S applies to
securities
offerings that are made outside of the United States and
do
not involve direct selling efforts in the United States and as
such
may have restrictions on resale. |
(b) |
Investment
in an affiliated fund, which is registered under the
Investment
Company Act of 1940, as amended, and is advised by
J.P.
Morgan Investment Management Inc. |
(c) |
The
rate shown is the current yield as of October 31,
2023. |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
39
|
INDUSTRY |
PERCENT
OF
TOTAL
INVESTMENTS |
Semiconductors
& Semiconductor Equipment |
9.6
% |
Chemicals |
6.7 |
Banks |
6.1 |
Pharmaceuticals |
6.1 |
Capital
Markets |
5.7 |
Professional
Services |
5.4 |
Hotels,
Restaurants & Leisure |
4.8 |
Textiles,
Apparel & Luxury Goods |
4.6 |
Food
Products |
4.4 |
Aerospace
& Defense |
4.3 |
Consumer
Staples Distribution & Retail |
4.0 |
Interactive
Media & Services |
3.8 |
Ground
Transportation |
3.6 |
Machinery |
2.7 |
Health
Care Equipment & Supplies |
2.4 |
Electronic
Equipment, Instruments & Components |
2.2 |
Household
Durables |
2.1 |
Specialty
Retail |
1.9 |
Building
Products |
1.7 |
Beverages |
1.6 |
Construction
& Engineering |
1.6 |
Biotechnology |
1.5 |
Broadline
Retail |
1.5 |
Insurance |
1.4 |
Oil,
Gas & Consumable Fuels |
1.2 |
Personal
Care Products |
1.2 |
Software |
1.2 |
Air
Freight & Logistics |
1.0 |
Electric
Utilities |
1.0 |
Diversified
Telecommunication Services |
1.0 |
Leisure
Products |
1.0 |
Others
(each less than 1.0%) |
1.4 |
Short-Term
Investments |
1.3 |
40
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — 95.6% | ||
Australia
— 5.1% | ||
BHP
Group Ltd. |
5,961 |
168,741 |
BlueScope
Steel Ltd. |
2,945 |
35,303 |
Coronado
Global Resources, Inc., CHDI (a) |
31,236 |
34,361 |
Glencore
plc |
14,484 |
76,719 |
JB
Hi-Fi Ltd. |
1,160 |
33,344 |
Perseus
Mining Ltd. |
30,296 |
32,370 |
Qantas
Airways Ltd. * |
9,359 |
29,321 |
Stanmore
Resources Ltd. * |
17,147 |
41,550 |
Ventia
Services Group Pty. Ltd. |
19,684 |
34,403 |
Whitehaven
Coal Ltd. |
8,521 |
40,136 |
Woodside
Energy Group Ltd. |
2,904 |
63,249 |
|
|
589,497 |
Austria
— 1.3% | ||
Erste
Group Bank AG |
1,296 |
46,409 |
OMV
AG |
850 |
37,279 |
Telekom
Austria AG |
4,467 |
31,195 |
Vienna
Insurance Group AG Wiener Versicherung
Gruppe |
1,237 |
33,180 |
|
|
148,063 |
Belgium
— 0.3% | ||
Ageas
SA |
962 |
36,953 |
Brazil
— 2.2% | ||
Banco
do Brasil SA |
4,392 |
42,137 |
Cia
de Saneamento de Minas Gerais Copasa MG * |
9,240 |
29,378 |
Gerdau
SA (Preference) |
7,721 |
33,507 |
Petroleo
Brasileiro SA (Preference) |
13,667 |
94,145 |
Vale
SA |
4,141 |
56,697 |
|
|
255,864 |
Canada
— 5.5% | ||
Air
Canada * |
2,129 |
25,685 |
ARC
Resources Ltd. |
2,571 |
41,362 |
Canadian
Natural Resources Ltd. |
1,262 |
80,138 |
CI
Financial Corp. |
2,726 |
24,709 |
Dundee
Precious Metals, Inc. |
5,519 |
36,177 |
EQB,
Inc. |
584 |
28,982 |
Fairfax
Financial Holdings Ltd. |
51 |
42,441 |
First
Capital REIT, REIT |
3,331 |
31,322 |
Manulife
Financial Corp. |
3,585 |
62,406 |
NuVista
Energy Ltd. * |
3,561 |
34,538 |
Quebecor,
Inc., Class B |
1,550 |
31,978 |
Russel
Metals, Inc. |
1,185 |
29,524 |
SmartCentres
REIT, REIT |
1,942 |
30,095 |
Suncor
Energy, Inc. |
2,255 |
73,028 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Canada
— continued | ||
Teck
Resources Ltd., Class B |
800 |
28,268 |
Whitecap
Resources, Inc. |
4,016 |
31,016 |
|
|
631,669 |
Chile
— 0.2% | ||
Sociedad
Quimica y Minera de Chile SA
(Preference),
Class B |
564 |
27,286 |
China
— 9.3% | ||
3SBio,
Inc. (a) |
40,500 |
36,031 |
Agricultural
Bank of China Ltd., Class H |
131,000 |
48,386 |
Alibaba
Group Holding Ltd. * |
19,500 |
200,754 |
Bank
of Communications Co. Ltd., Class H |
70,000 |
41,405 |
BOC
Hong Kong Holdings Ltd. |
15,500 |
40,990 |
China
Coal Energy Co. Ltd., Class H |
50,000 |
39,273 |
China
Construction Bank Corp., Class H |
155,000 |
87,662 |
China
Feihe Ltd. (a) |
59,000 |
36,661 |
China
Merchants Bank Co. Ltd., Class H |
11,000 |
41,726 |
China
Pacific Insurance Group Co. Ltd., Class H |
17,000 |
41,877 |
China
Resources Pharmaceutical Group Ltd. (a) |
52,500 |
32,613 |
CSPC
Pharmaceutical Group Ltd. |
52,000 |
45,420 |
Industrial
& Commercial Bank of China Ltd., Class H |
140,000 |
67,094 |
JD.com,
Inc., Class A |
2,000 |
25,426 |
Jiangxi
Copper Co. Ltd., Class H |
21,000 |
29,693 |
Kunlun
Energy Co. Ltd. |
48,000 |
39,989 |
Lenovo
Group Ltd. |
30,000 |
34,912 |
Livzon
Pharmaceutical Group, Inc., Class H |
11,000 |
32,532 |
People's
Insurance Co. Group of China Ltd. (The),
Class
H |
105,000 |
34,646 |
PetroChina
Co. Ltd., Class H |
68,000 |
44,385 |
PICC
Property & Casualty Co. Ltd., Class H |
26,000 |
29,691 |
Sinotruk
Hong Kong Ltd. |
18,000 |
33,903 |
|
|
1,065,069 |
Denmark
— 1.3% | ||
D/S
Norden A/S |
677 |
38,464 |
Danske
Bank A/S |
1,909 |
44,783 |
Jyske
Bank A/S (Registered) * |
476 |
33,546 |
Sydbank
A/S |
705 |
30,625 |
|
|
147,418 |
Finland
— 1.2% | ||
Nordea
Bank Abp |
6,227 |
65,584 |
Outokumpu
OYJ |
7,405 |
30,385 |
UPM-Kymmene
OYJ |
1,357 |
45,698 |
|
|
141,667 |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
41
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
France
— 5.7% | ||
AXA
SA |
2,882 |
85,395 |
BNP
Paribas SA |
1,532 |
88,096 |
Cie
de Saint-Gobain SA |
1,051 |
57,210 |
Eiffage
SA |
384 |
34,848 |
Engie
SA |
3,897 |
61,981 |
Renault
SA |
1,000 |
35,084 |
SCOR
SE |
1,096 |
32,721 |
Societe
Generale SA |
1,684 |
37,842 |
TotalEnergies
SE |
2,670 |
178,510 |
Trigano
SA |
110 |
14,445 |
Vicat
SACA |
1,029 |
31,594 |
|
|
657,726 |
Germany
— 5.3% | ||
Allianz
SE (Registered) |
526 |
123,211 |
Bayerische
Motoren Werke AG |
661 |
61,476 |
Commerzbank
AG |
4,289 |
46,259 |
Deutsche
Bank AG (Registered) |
4,603 |
50,654 |
Deutsche
Telekom AG (Registered) |
4,634 |
100,575 |
Fresenius
SE & Co. KGaA |
1,541 |
39,640 |
Mercedes-Benz
Group AG |
1,237 |
72,778 |
RWE
AG |
870 |
33,291 |
Schaeffler
AG (Preference) |
5,810 |
30,154 |
Volkswagen
AG (Preference) |
516 |
54,722 |
|
|
612,760 |
Greece
— 0.3% | ||
Hellenic
Telecommunications Organization SA |
2,405 |
33,709 |
Hong
Kong — 0.9% | ||
Bank
of East Asia Ltd. (The) |
25,200 |
29,928 |
Pacific
Basin Shipping Ltd. |
122,000 |
35,304 |
United
Laboratories International Holdings Ltd.
(The) |
38,000 |
38,790 |
|
|
104,022 |
Hungary
— 0.3% | ||
OTP
Bank Nyrt. |
969 |
36,066 |
India
— 0.3% | ||
State
Bank of India, GDR (a) |
590 |
39,943 |
Indonesia
— 0.3% | ||
United
Tractors Tbk. PT |
20,700 |
32,758 |
Ireland
— 0.6% | ||
Bank
of Ireland Group plc |
4,015 |
35,981 |
Greencore
Group plc * |
27,845 |
30,505 |
|
|
66,486 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Italy
— 4.8% | ||
Assicurazioni
Generali SpA |
2,630 |
52,241 |
Banco
BPM SpA |
7,459 |
38,163 |
BPER
Banca |
11,712 |
38,112 |
Danieli
& C Officine Meccaniche SpA |
1,525 |
40,340 |
Eni
SpA |
4,345 |
71,031 |
Intesa
Sanpaolo SpA |
27,247 |
71,000 |
MFE-MediaForEurope
NV, Class B |
10,571 |
28,019 |
Saipem
SpA * |
19,227 |
29,299 |
Saras
SpA |
24,344 |
35,386 |
UniCredit
SpA |
3,241 |
81,251 |
Unipol
Gruppo SpA |
6,217 |
33,681 |
Webuild
SpA |
17,356 |
31,257 |
|
|
549,780 |
Japan
— 17.7% | ||
ANA
Holdings, Inc. * |
1,600 |
31,411 |
Cosmo
Energy Holdings Co. Ltd. |
900 |
32,923 |
Credit
Saison Co. Ltd. |
1,200 |
17,988 |
Daiwa
House Industry Co. Ltd. |
1,900 |
52,261 |
Fujikura
Ltd. |
4,000 |
28,728 |
Fukuyama
Transporting Co. Ltd. |
1,400 |
38,259 |
Gunma
Bank Ltd. (The) |
6,900 |
33,345 |
Hitachi
Ltd. |
1,000 |
63,387 |
Hitachi
Zosen Corp. |
5,700 |
29,735 |
Honda
Motor Co. Ltd. |
7,500 |
76,866 |
Inpex
Corp. |
3,200 |
46,435 |
Isuzu
Motors Ltd. |
3,200 |
35,682 |
ITOCHU
Corp. |
1,200 |
43,225 |
Japan
Petroleum Exploration Co. Ltd. |
1,000 |
34,242 |
Japan
Tobacco, Inc. |
2,700 |
62,853 |
JFE
Holdings, Inc. |
2,600 |
36,225 |
Marubeni
Corp. |
3,500 |
51,176 |
Mazda
Motor Corp. |
3,500 |
33,831 |
Mitsubishi
Chemical Group Corp. |
6,900 |
39,044 |
Mitsubishi
Corp. |
1,700 |
79,246 |
Mitsubishi
Motors Corp. |
8,600 |
28,093 |
Mitsubishi
UFJ Financial Group, Inc. |
14,500 |
121,643 |
Mitsui
& Co. Ltd. |
1,500 |
54,516 |
Mitsui
Fudosan Co. Ltd. |
2,500 |
54,187 |
Mizuho
Financial Group, Inc. |
4,200 |
71,309 |
MS&AD
Insurance Group Holdings, Inc. |
1,000 |
36,641 |
Nippon
Steel Corp. |
2,200 |
47,451 |
Niterra
Co. Ltd. |
1,500 |
33,574 |
ORIX
Corp. |
2,900 |
52,740 |
Sankyo
Co. Ltd. |
700 |
29,091 |
42
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Japan
— continued | ||
SBI
Holdings, Inc. |
1,700 |
36,575 |
SKY
Perfect JSAT Holdings, Inc. |
7,400 |
34,250 |
Sojitz
Corp. |
1,500 |
31,148 |
Subaru
Corp. |
2,400 |
41,545 |
Sumitomo
Corp. |
2,600 |
51,110 |
Sumitomo
Mitsui Financial Group, Inc. |
1,900 |
91,595 |
Sumitomo
Realty & Development Co. Ltd. |
1,500 |
37,641 |
Toho
Gas Co. Ltd. |
1,900 |
32,721 |
Tokyo
Gas Co. Ltd. |
1,900 |
42,669 |
Tokyo
Steel Manufacturing Co. Ltd. |
2,900 |
33,518 |
Tokyo
Tatemono Co. Ltd. |
2,600 |
34,524 |
Toyota
Boshoku Corp. |
1,700 |
29,565 |
Toyota
Motor Corp. |
4,100 |
71,724 |
Tsubakimoto
Chain Co. |
1,200 |
30,334 |
Yamaha
Motor Co. Ltd. |
1,500 |
36,655 |
|
|
2,031,681 |
Luxembourg
— 0.1% | ||
ArcelorMittal
SA |
295 |
6,528 |
Mexico
— 0.3% | ||
Grupo
Mexico SAB de CV |
8,546 |
35,489 |
Netherlands
— 3.7% | ||
ABN
AMRO Bank NV, CVA (a) |
2,759 |
37,160 |
Aegon
Ltd. |
8,291 |
40,321 |
ING
Groep NV |
4,697 |
60,218 |
NN
Group NV |
1,400 |
44,902 |
Shell
plc |
7,552 |
243,377 |
|
|
425,978 |
Norway
— 1.2% | ||
Aker
Solutions ASA (a) |
7,954 |
31,762 |
Equinor
ASA |
1,899 |
63,661 |
Hoegh
Autoliners ASA |
4,532 |
36,634 |
|
|
132,057 |
Poland
— 0.4% | ||
ORLEN
SA |
2,982 |
47,157 |
Singapore
— 0.6% | ||
DBS
Group Holdings Ltd. |
1,900 |
45,645 |
Hafnia
Ltd. |
4,011 |
26,358 |
|
|
72,003 |
South
Africa — 2.3% | ||
Absa
Group Ltd. |
4,345 |
39,646 |
Kumba
Iron Ore Ltd. |
1,591 |
42,155 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
South
Africa — continued | ||
Mr
Price Group Ltd. |
4,904 |
35,446 |
MTN
Group Ltd. |
6,976 |
34,054 |
Nedbank
Group Ltd. |
3,477 |
37,418 |
Sasol
Ltd. |
3,124 |
39,487 |
Sibanye
Stillwater Ltd. |
24,977 |
31,859 |
|
|
260,065 |
South
Korea — 6.2% | ||
Doosan
Bobcat, Inc. |
861 |
24,737 |
Hana
Financial Group, Inc. |
1,402 |
40,766 |
Hankook
Tire & Technology Co. Ltd. |
1,261 |
35,776 |
Hyundai
Glovis Co. Ltd. |
270 |
34,266 |
Hyundai
Marine & Fire Insurance Co. Ltd. |
1,446 |
33,731 |
Hyundai
Mobis Co. Ltd. |
185 |
28,650 |
Hyundai
Motor Co. |
306 |
38,551 |
KB
Financial Group, Inc. |
1,181 |
45,018 |
Kia
Corp. |
830 |
47,419 |
Korean
Air Lines Co. Ltd. |
2,222 |
33,808 |
Kumho
Petrochemical Co. Ltd. |
361 |
33,929 |
LG
Uplus Corp. |
4,616 |
34,596 |
Samsung
Electronics Co. Ltd. |
3,626 |
180,484 |
Samsung
Fire & Marine Insurance Co. Ltd. |
206 |
39,392 |
Samsung
Life Insurance Co. Ltd. |
605 |
32,391 |
SK
Telecom Co. Ltd. |
950 |
34,644 |
|
|
718,158 |
Spain
— 2.5% | ||
Banco
Bilbao Vizcaya Argentaria SA |
10,116 |
79,585 |
Banco
de Sabadell SA |
30,121 |
37,452 |
Banco
Santander SA |
24,567 |
90,356 |
Grupo
Catalana Occidente SA |
1,036 |
33,187 |
Repsol
SA |
3,314 |
48,524 |
|
|
289,104 |
Sweden
— 1.4% | ||
Betsson
AB, Class B * |
2,471 |
24,869 |
Skandinaviska
Enskilda Banken AB, Class A |
4,496 |
50,173 |
SSAB
AB, Class B |
6,049 |
35,094 |
Swedbank
AB, Class A |
2,762 |
45,361 |
|
|
155,497 |
Switzerland
— 3.1% | ||
Novartis
AG (Registered) |
2,344 |
219,444 |
Sandoz
Group AG * |
1,239 |
32,213 |
UBS
Group AG (Registered) |
4,516 |
106,110 |
|
|
357,767 |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
43
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Taiwan
— 3.1% | ||
ASE
Technology Holding Co. Ltd. |
12,000 |
42,012 |
Compeq
Manufacturing Co. Ltd. |
21,000 |
34,337 |
Globalwafers
Co. Ltd. |
2,000 |
29,400 |
Hon
Hai Precision Industry Co. Ltd. |
22,000 |
65,664 |
Pegatron
Corp. |
17,000 |
39,672 |
Powertech
Technology, Inc. |
10,000 |
32,488 |
Sercomm
Corp. |
9,000 |
31,401 |
Unimicron
Technology Corp. |
6,000 |
26,759 |
United
Microelectronics Corp. |
34,000 |
48,896 |
|
|
350,629 |
Thailand
— 0.5% | ||
Bangchak
Corp. PCL, NVDR |
20,600 |
23,659 |
Krung
Thai Bank PCL, NVDR |
71,500 |
37,385 |
|
|
61,044 |
Turkey
— 0.2% | ||
Tofas
Turk Otomobil Fabrikasi A/S |
3,166 |
26,910 |
United
Kingdom — 5.3% | ||
3i
Group plc |
2,295 |
54,111 |
Barclays
plc |
32,886 |
52,784 |
BP
plc |
21,954 |
134,051 |
Centrica
plc |
22,411 |
42,901 |
Future
plc |
2,317 |
25,018 |
HSBC
Holdings plc |
23,556 |
170,084 |
Investec
plc |
5,751 |
31,882 |
Lloyds
Banking Group plc |
126,285 |
61,463 |
NatWest
Group plc |
17,484 |
38,042 |
|
|
610,336 |
United
States — 2.1% | ||
GSK
plc |
5,739 |
102,308 |
Holcim
AG |
1,042 |
64,425 |
Stellantis
NV |
3,921 |
73,253 |
|
|
239,986 |
Total
Common Stocks
(Cost
$11,516,095) |
|
10,997,125 |
Exchange-Traded
Funds — 1.0% | ||
United
States — 1.0% | ||
iShares
MSCI India ETF(Cost $113,106) |
2,507 |
108,403 |
Short-Term
Investments — 2.9% | ||
Investment
Companies — 2.9% | ||
JPMorgan
U.S. Government Money Market Fund
Class
IM Shares, 5.29% (b)
(c)(Cost
$336,217) |
336,217 |
336,217 |
INVESTMENTS |
SHARES |
VALUE($) |
Total
Investments — 99.5%
(Cost
$11,965,418) |
|
11,441,745 |
Other
Assets Less Liabilities — 0.5% |
|
60,820 |
NET
ASSETS — 100.0% |
|
11,502,565 |
Percentages
indicated are based on net
assets. |
Abbreviations |
|
CHDI |
Clearing
House Electronic Subregister System (CHESS) Depository
Interest |
CVA |
Certificaten
Van Aandelen (Dutch Certificate) |
ETF |
Exchange
Traded Fund |
GDR |
Global
Depositary Receipt |
NVDR |
Non-Voting
Depositary Receipt |
OYJ |
Public
Limited Company |
Preference |
A
special type of equity investment that shares in the earnings of
the
company, has limited voting rights, and may have a dividend
preference.
Preference shares may also have liquidation
preference. |
PT |
Limited
liability company |
REIT |
Real
Estate Investment Trust |
* |
Non-income
producing security.
|
(a) |
Security
exempt from registration pursuant to Regulation S under
the
Securities Act of 1933, as amended. Regulation S applies to
securities
offerings that are made outside of the United States and
do
not involve direct selling efforts in the United States and as
such
may have restrictions on resale. |
(b) |
Investment
in an affiliated fund, which is registered under the
Investment
Company Act of 1940, as amended, and is advised by
J.P.
Morgan Investment Management Inc. |
(c) |
The
rate shown is the current yield as of October 31,
2023. |
44
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
INDUSTRY |
PERCENT
OF
TOTAL
INVESTMENTS |
Banks |
21.4
% |
Oil,
Gas & Consumable Fuels |
14.0 |
Metals
& Mining |
7.6 |
Insurance |
7.6 |
Automobiles |
6.5 |
Pharmaceuticals |
4.4 |
Trading
Companies & Distributors |
3.0 |
Capital
Markets |
2.7 |
Technology
Hardware, Storage & Peripherals |
2.2 |
Diversified
Telecommunication Services |
2.0 |
Broadline
Retail |
2.0 |
Real
Estate Management & Development |
1.6 |
Machinery |
1.4 |
Automobile
Components |
1.4 |
Semiconductors
& Semiconductor Equipment |
1.3 |
Electronic
Equipment, Instruments & Components |
1.1 |
Passenger
Airlines |
1.0 |
Gas
Utilities |
1.0 |
Chemicals |
1.0 |
Marine
Transportation |
1.0 |
Others
(each less than 1.0%) |
12.9 |
Short-Term
Investments |
2.9 |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
45
|
|
JPMorgan
Active
China
ETF |
JPMorgan
ActiveBuilders
Emerging
Markets
Equity
ETF |
JPMorgan
Global
Select
Equity
ETF |
JPMorgan
Hedged
Equity
Laddered
Overlay ETF |
ASSETS: |
|
|
|
|
Investments
in non-affiliates, at value |
$10,547,637 |
$890,908,307 |
$831,344,438 |
$59,369,735 |
Investments
in affiliates, at value |
10,004 |
4,916,639 |
10,930,514 |
451,185 |
Options
purchased, at value |
— |
— |
— |
590,304 |
Cash |
162 |
463,680 |
151,564 |
8,613 |
Foreign
currency, at value |
7,227 |
146,598 |
43,337 |
— |
Receivables: |
|
|
|
|
Due
from affiliate |
— |
— |
— |
3,730 |
Investment
securities sold |
— |
22 |
7,324,289 |
175,847 |
Fund
shares sold |
— |
— |
— |
1,231,887 |
Dividends
from non-affiliates |
— |
1,159,247 |
218,025 |
28,811 |
Dividends
from affiliates |
2 |
731 |
1,644 |
65 |
Tax
reclaims |
— |
53,750 |
5,689 |
— |
Securities
lending income (See
Note 2.C.) |
— |
56 |
— |
— |
Total
Assets |
10,565,032 |
897,649,030 |
850,019,500 |
61,860,177 |
LIABILITIES: |
|
|
|
|
Payables: |
|
|
|
|
Investment
securities purchased |
161 |
54,959 |
8,027,668 |
152,248 |
Variation
margin on futures contracts |
— |
— |
— |
32 |
Outstanding
options written, at fair value |
— |
— |
— |
94,127 |
Accrued
liabilities: |
|
|
|
|
Management
fees (See
Note 3.A.) |
5,902 |
250,556 |
315,799 |
19,955 |
Deferred
foreign capital gains tax |
— |
392,165 |
— |
— |
Other |
— |
1,375 |
— |
— |
Total
Liabilities |
6,063 |
699,055 |
8,343,467 |
266,362 |
Net
Assets |
$10,558,969 |
$896,949,975 |
$841,676,033 |
$61,593,815 |
NET
ASSETS: |
|
|
|
|
Paid-in-Capital |
$12,694,661 |
$1,158,505,898 |
$845,985,315 |
$62,252,373 |
Total
distributable earnings (loss) |
(2,135,692
) |
(261,555,923
) |
(4,309,282
) |
(658,558
) |
Total
Net Assets |
$10,558,969 |
$896,949,975 |
$841,676,033 |
$61,593,815 |
Outstanding
number of shares
(unlimited
number of shares authorized - par value
$0.0001) |
260,000 |
26,800,000 |
18,275,000 |
1,250,000 |
Net
asset value, per share |
$40.61 |
$33.47 |
$46.06 |
$49.28 |
Cost
of investments in non-affiliates |
$12,644,831 |
$1,019,540,494 |
$834,549,991 |
$60,358,455 |
Cost
of investments in affiliates |
10,003 |
4,916,176 |
10,930,338 |
451,185 |
Cost
of options purchased |
— |
— |
— |
625,568 |
Cost
of foreign currency |
7,231 |
146,647 |
43,336 |
— |
Premiums
received from options written |
— |
— |
— |
582,518 |
46
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
|
JPMorgan
International
Growth
ETF |
JPMorgan
International
Value
ETF |
ASSETS: |
|
|
Investments
in non-affiliates, at value |
$80,951,840 |
$11,105,528 |
Investments
in affiliates, at value |
1,033,189 |
336,217 |
Cash |
54,924 |
54,782 |
Foreign
currency, at value |
1 |
2,627 |
Receivables: |
|
|
Investment
securities sold |
— |
32,006 |
Dividends
from non-affiliates |
66,484 |
29,738 |
Dividends
from affiliates |
150 |
35 |
Tax
reclaims |
116,903 |
846 |
Total
Assets |
82,223,491 |
11,561,779 |
LIABILITIES: |
|
|
Payables: |
|
|
Investment
securities purchased |
84,620 |
53,897 |
Accrued
liabilities: |
|
|
Management
fees (See
Note 3.A.) |
33,844 |
5,317 |
Total
Liabilities |
118,464 |
59,214 |
Net
Assets |
$82,105,027 |
$11,502,565 |
NET
ASSETS: |
|
|
Paid-in-Capital |
$96,783,908 |
$12,049,097 |
Total
distributable earnings (loss) |
(14,678,881
) |
(546,532
) |
Total
Net Assets |
$82,105,027 |
$11,502,565 |
Outstanding
number of shares
(unlimited
number of shares authorized - par value $0.0001) |
1,575,000 |
250,000 |
Net
asset value, per share |
$52.13 |
$46.01 |
Cost
of investments in non-affiliates |
$81,505,461 |
$11,629,201 |
Cost
of investments in affiliates |
1,033,189 |
336,217 |
Cost
of foreign currency |
1 |
2,582 |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
47
|
|
JPMorgan
Active
China
ETF (a) |
JPMorgan
ActiveBuilders
Emerging
Markets
Equity
ETF
|
JPMorgan
Global
Select
Equity
ETF (b) |
JPMorgan
Hedged
Equity Laddered
Overlay ETF (c) |
INVESTMENT
INCOME: |
|
|
|
|
Interest
income from non-affiliates |
$— |
$1,043 |
$— |
$— |
Interest
income from affiliates |
4 |
16,244 |
40 |
— |
Dividend
income from non-affiliates |
260,382 |
30,138,408 |
342,839 |
37,033 |
Dividend
income from affiliates |
3,317 |
191,415 |
34,824 |
12,405 |
Income
from securities lending (net) (See
Note 2.C.) |
— |
185 |
— |
— |
Foreign
taxes withheld (net) |
(23,005
) |
(3,535,043
) |
(9,154
) |
— |
Total
investment income |
240,698 |
26,812,252 |
368,549 |
49,438 |
EXPENSES: |
|
|
|
|
Management
fees (See
Note 3.A.) |
47,429 |
3,216,468 |
317,858 |
20,639 |
Interest
expense to affiliates |
— |
21,361 |
— |
— |
Total
expenses |
47,429 |
3,237,829 |
317,858 |
20,639 |
Net
investment income (loss) |
193,269 |
23,574,423 |
50,691 |
28,799 |
REALIZED/UNREALIZED
GAINS (LOSSES): |
|
|
|
|
Net
realized gain (loss) on transactions from: |
|
|
|
|
Investments
in non-affiliates |
(236,162
) |
(88,810,736
)(d) |
(1,078,380
) |
(59,764
) |
Investments
in affiliates |
(575
) |
9,594 |
(179
) |
— |
In-kind
redemptions of investments in
non-affiliates (See
Note 4) |
— |
13,097,310 |
— |
— |
Options
purchased |
— |
— |
— |
(68,683
) |
Futures
contracts |
— |
— |
— |
4,747 |
Foreign
currency transactions |
4,973 |
(509,899
) |
(77,524
) |
— |
Options
written |
— |
— |
— |
(28,043
) |
Net
realized gain (loss) |
(231,764
) |
(76,213,731
) |
(1,156,083
) |
(151,743
) |
Change
in net unrealized appreciation/depreciation on: |
|
|
|
|
Investments
in non-affiliates |
(2,097,194
) |
160,619,557
(e) |
(3,205,553
) |
(988,720
) |
Investments
in affiliates |
1 |
690 |
176 |
— |
Options
purchased |
— |
— |
— |
(35,264
) |
Futures
contracts |
— |
— |
— |
(21
) |
Foreign
currency translations |
(4
) |
(1,047
) |
1,487 |
— |
Options
written |
— |
— |
— |
488,391 |
Change
in net unrealized appreciation/depreciation |
(2,097,197
) |
160,619,200 |
(3,203,890
) |
(535,614
) |
Net
realized/unrealized gains (losses) |
(2,328,961
) |
84,405,469 |
(4,359,973
) |
(687,357
) |
Change
in net assets resulting from operations |
$(2,135,692
) |
$107,979,892 |
$(4,309,282
) |
$(658,558
) |
48
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
|
JPMorgan
International
Growth
ETF
|
JPMorgan
International
Value
ETF (a) |
INVESTMENT
INCOME: |
|
|
Interest
income from non-affiliates |
$178 |
$— |
Interest
income from affiliates |
988 |
156 |
Dividend
income from non-affiliates |
1,488,182 |
49,323 |
Dividend
income from affiliates |
62,958 |
3,517 |
Income
from securities lending (net) (See
Note 2.C.) |
1,330 |
— |
Foreign
taxes withheld (net) |
(115,071
) |
(7,707
) |
Total
investment income |
1,438,565 |
45,289 |
EXPENSES: |
|
|
Management
fees (See
Note 3.A.) |
447,467 |
8,263 |
Interest
expense to affiliates |
43 |
32 |
Total
expenses |
447,510 |
8,295 |
Net
investment income (loss) |
991,055 |
36,994 |
REALIZED/UNREALIZED
GAINS (LOSSES): |
|
|
Net
realized gain (loss) on transactions from: |
|
|
Investments
in non-affiliates |
(4,973,549
) |
(51,503
) |
Foreign
currency transactions |
(20,271
) |
(8,061
) |
Net
realized gain (loss) |
(4,993,820
) |
(59,564
) |
Change
in net unrealized appreciation/depreciation on: |
|
|
Investments
in non-affiliates |
8,148,530 |
(523,673
) |
Foreign
currency translations |
5,862 |
(289
) |
Change
in net unrealized appreciation/depreciation |
8,154,392 |
(523,962
) |
Net
realized/unrealized gains (losses) |
3,160,572 |
(583,526
) |
Change
in net assets resulting from operations |
$4,151,627 |
$(546,532
) |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
49
|
|
JPMorgan
Active
China
ETF |
JPMorgan
ActiveBuilders
Emerging
Markets Equity
ETF | |
|
Period
Ended
October
31, 2023 (a) |
Year
Ended
October
31, 2023
|
Year
Ended October
31, 2022
|
CHANGE
IN NET ASSETS RESULTING FROM OPERATIONS: |
|
|
|
Net
investment income (loss) |
$193,269 |
$23,574,423 |
$22,556,173 |
Net
realized gain (loss) |
(231,764
) |
(76,213,731
) |
(63,193,216
) |
Change
in net unrealized appreciation/depreciation |
(2,097,197
) |
160,619,200 |
(276,748,688
) |
Change
in net assets resulting from operations |
(2,135,692
) |
107,979,892 |
(317,385,731
) |
DISTRIBUTIONS
TO SHAREHOLDERS: |
|
|
|
Total
distributions to shareholders |
— |
(26,488,020
) |
(5,165,856
) |
CAPITAL
TRANSACTIONS: |
|
|
|
Change
in net assets resulting from capital transactions |
12,694,661 |
(91,696,023
) |
903,841,753 |
NET
ASSETS: |
|
|
|
Change
in net assets |
10,558,969 |
(10,204,151
) |
581,290,166 |
Beginning
of year |
— |
907,154,126 |
325,863,960 |
End
of period |
$10,558,969 |
$896,949,975 |
$907,154,126 |
CAPITAL
TRANSACTIONS: |
|
|
|
Proceeds
from shares issued |
$12,694,661 |
$183,119,158 |
$903,841,753 |
Cost
of shares redeemed |
— |
(274,815,181
) |
— |
Total
change in net assets resulting from capital
transactions |
$12,694,661 |
$(91,696,023
) |
$903,841,753 |
SHARE
TRANSACTIONS: |
|
|
|
Issued |
260,000 |
5,200,000 |
22,400,000 |
Redeemed |
— |
(7,600,000
) |
— |
Net
increase (decrease) in shares from share
transactions |
260,000 |
(2,400,000
) |
22,400,000 |
50
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
|
JPMorgan
Global
Select
Equity
ETF |
JPMorgan
Hedged Equity
Laddered
Overlay ETF |
|
Period
Ended
October
31, 2023 (a) |
Period
Ended October
31, 2023 (b) |
CHANGE
IN NET ASSETS RESULTING FROM OPERATIONS: |
|
|
Net
investment income (loss) |
$50,691 |
$28,799 |
Net
realized gain (loss) |
(1,156,083
) |
(151,743
) |
Change
in net unrealized appreciation/depreciation |
(3,203,890
) |
(535,614
) |
Change
in net assets resulting from operations |
(4,309,282
) |
(658,558
) |
CAPITAL
TRANSACTIONS: |
|
|
Change
in net assets resulting from capital transactions |
845,985,315 |
62,252,373 |
NET
ASSETS: |
|
|
Change
in net assets |
841,676,033 |
61,593,815 |
Beginning
of year |
— |
— |
End
of period |
$841,676,033 |
$61,593,815 |
CAPITAL
TRANSACTIONS: |
|
|
Proceeds
from shares issued |
$846,035,530 |
$62,252,373 |
Cost
of shares redeemed |
(50,215
) |
— |
Total
change in net assets resulting from capital
transactions |
$845,985,315 |
$62,252,373 |
SHARE
TRANSACTIONS: |
|
|
Issued |
18,275,000 |
1,250,000 |
Net
increase (decrease) in shares from share
transactions |
18,275,000 |
1,250,000 |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
51
|
|
JPMorgan
International
Growth ETF |
JPMorgan
International
Value
ETF | |
|
Year
Ended
October
31, 2023
|
Year
Ended
October
31, 2022
|
Period
Ended October
31, 2023 (a) |
CHANGE
IN NET ASSETS RESULTING FROM OPERATIONS: |
|
|
|
Net
investment income (loss) |
$991,055 |
$448,870 |
$36,994 |
Net
realized gain (loss) |
(4,993,820
) |
(9,022,413
) |
(59,564
) |
Change
in net unrealized appreciation/depreciation |
8,154,392 |
(19,659,292
) |
(523,962
) |
Change
in net assets resulting from operations |
4,151,627 |
(28,232,835
) |
(546,532
) |
DISTRIBUTIONS
TO SHAREHOLDERS: |
|
|
|
Total
distributions to shareholders |
(548,251
) |
(823,639
) |
— |
CAPITAL
TRANSACTIONS: |
|
|
|
Change
in net assets resulting from capital transactions |
23,519,546 |
22,746,629 |
12,049,097 |
NET
ASSETS: |
|
|
|
Change
in net assets |
27,122,922 |
(6,309,845
) |
11,502,565 |
Beginning
of year |
54,982,105 |
61,291,950 |
— |
End
of period |
$82,105,027 |
$54,982,105 |
$11,502,565 |
CAPITAL
TRANSACTIONS: |
|
|
|
Proceeds
from shares issued |
$23,520,679 |
$29,268,696 |
$12,049,097 |
Cost
of shares redeemed |
(1,133
) |
(6,522,067
) |
— |
Total
change in net assets resulting from capital
transactions |
$23,519,546 |
$22,746,629 |
$12,049,097 |
SHARE
TRANSACTIONS: |
|
|
|
Issued |
425,000 |
500,000 |
250,000 |
Redeemed |
— |
(125,000
) |
— |
Net
increase (decrease) in shares from share
transactions |
425,000 |
375,000 |
250,000 |
52
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
|
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
Active China ETF |
|
|
|
|
|
|
|
March
15, 2023 (f)
through October 31, 2023
|
$48.00 |
$0.75 |
$(8.14
) |
$(7.39
) |
$— |
$— |
$— |
JPMorgan
ActiveBuilders Emerging Markets Equity ETF |
|
|
|
|
|
|
|
Year
Ended October 31, 2023
|
31.07 |
0.86 |
2.45 |
3.31 |
(0.91
) |
— |
(0.91
) |
Year
Ended October 31, 2022
|
47.92 |
1.14 |
(17.27
) |
(16.13
) |
(0.63
) |
(0.09
) |
(0.72
) |
March
10, 2021 (f)
through October 31, 2021
|
48.00 |
0.66 |
(0.74
) |
(0.08
) |
— |
— |
— |
JPMorgan
Global Select Equity ETF |
|
|
|
|
|
|
|
September
13, 2023 (f)
through October 31, 2023
|
48.00 |
0.00
(i) |
(1.94
) |
(1.94
) |
— |
— |
— |
JPMorgan
Hedged Equity Laddered Overlay ETF |
|
|
|
|
|
|
|
September
28, 2023 (f)
through October 31, 2023
|
50.00 |
0.03 |
(0.75
) |
(0.72
) |
— |
— |
— |
JPMorgan
International Growth ETF |
|
|
|
|
|
|
|
Year
Ended October 31, 2023
|
47.81 |
0.68 |
4.12 |
4.80 |
(0.48
) |
— |
(0.48
) |
Year
Ended October 31, 2022
|
79.09 |
0.44 |
(30.69
) |
(30.25
) |
(0.49
) |
(0.54
) |
(1.03
) |
Year
Ended October 31, 2021
|
62.98 |
0.19 |
15.95 |
16.14 |
(0.03
) |
— |
(0.03
) |
May
20, 2020 (f)
through October 31, 2020
|
51.83 |
0.05 |
11.10 |
11.15 |
— |
— |
— |
JPMorgan
International Value ETF |
|
|
|
|
|
|
|
September
13, 2023 (f)
through October 31, 2023
|
48.00 |
0.15 |
(2.14
) |
(1.99
) |
— |
— |
— |
| |
(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) |
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 closing price on the listing exchange of the
Fund. |
(f) |
Commencement
of operations. |
(g) |
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. |
(h) |
Does
not include expenses of unaffiliated Underlying
Funds. |
(i) |
Amount
rounds to less than $0.005. |
54
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
|
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) |
|
|
|
|
|
|
|
|
|
$40.61 |
$40.77 |
(15.40
)% |
(15.06
)%(g)
|
$10,558,969 |
0.65
% |
2.64
% |
0.65
% |
17
% |
|
|
|
|
|
|
|
|
|
33.47 |
33.45 |
10.61 |
10.27 |
896,949,975 |
0.33 |
2.41 |
0.33 |
46 |
31.07 |
31.15 |
(34.15
) |
(34.32
) |
907,154,126 |
0.33 |
3.05 |
0.33 |
28 |
47.92 |
48.17 |
(0.17
) |
0.35
(g) |
325,863,960 |
0.30
(h) |
2.11 |
0.33
(h) |
40 |
|
|
|
|
|
|
|
|
|
46.06 |
46.13 |
(4.04
) |
(3.90
)(g) |
841,676,033 |
0.47 |
0.07 |
0.47 |
8 |
|
|
|
|
|
|
|
|
|
49.28 |
49.28 |
(1.44
) |
(1.44
)(g) |
61,593,815 |
0.50 |
0.70 |
0.50 |
4 |
|
|
|
|
|
|
|
|
|
52.13 |
52.11 |
10.03 |
10.01 |
82,105,027 |
0.55 |
1.21 |
0.55 |
53 |
47.81 |
47.80 |
(38.72
) |
(38.97
) |
54,982,105 |
0.55 |
0.75 |
0.55 |
32 |
79.09 |
79.40 |
25.63 |
25.85 |
61,291,950 |
0.55 |
0.25 |
0.55 |
37 |
62.98 |
63.12 |
21.51 |
21.78
(g) |
37,787,658 |
0.55 |
0.16 |
0.55 |
12 |
|
|
|
|
|
|
|
|
|
46.01 |
46.22 |
(4.15
) |
(3.71
)(g) |
11,502,565 |
0.55 |
2.46 |
0.55 |
4 |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
55
|
|
Diversification
Classification |
JPMorgan
Active China ETF |
Non-Diversified |
JPMorgan
ActiveBuilders Emerging Markets Equity ETF |
Diversified |
JPMorgan
Global Select Equity ETF |
Diversified |
JPMorgan
Hedged Equity Laddered Overlay ETF |
Diversified |
JPMorgan
International Growth ETF |
Diversified |
JPMorgan
International Value ETF |
Diversified |
|
Listing
Exchange |
Active
China ETF |
NYSE
Arca, Inc.
|
ActiveBuilders
Emerging Markets Equity ETF |
Cboe
BZX Exchange, Inc. |
Global
Select Equity ETF |
The
NASDAQ Stock Market LLC |
Hedged
Equity Laddered Overlay ETF |
NYSE
Arca, Inc.
|
International
Growth ETF |
NYSE
Arca, Inc.
|
International
Value ETF |
The
NASDAQ Stock Market LLC |
56
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
Active
China ETF |
|
|
|
|
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Investments
in Securities |
|
|
|
|
Common
Stocks |
|
|
|
|
Automobile
Components |
$— |
$179,524 |
$— |
$179,524 |
Banks |
— |
947,171 |
— |
947,171 |
Beverages |
— |
650,296 |
— |
650,296 |
Broadline
Retail |
— |
717,018 |
— |
717,018 |
Chemicals |
— |
283,753 |
— |
283,753 |
Consumer
Staples Distribution & Retail |
— |
137,513 |
— |
137,513 |
Electrical
Equipment |
— |
111,134 |
— |
111,134 |
Electronic
Equipment, Instruments & Components |
— |
578,955 |
— |
578,955 |
Entertainment |
— |
327,444 |
— |
327,444 |
Food
Products |
— |
417,090 |
— |
417,090 |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
57
|
Active
China ETF (continued) |
|
|
|
|
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Gas
Utilities |
$— |
$137,868 |
$— |
$137,868 |
Health
Care Equipment & Supplies |
— |
241,524 |
— |
241,524 |
Health
Care Providers & Services |
— |
134,955 |
— |
134,955 |
Hotels,
Restaurants & Leisure |
119,570 |
392,648 |
— |
512,218 |
Household
Durables |
— |
494,928 |
— |
494,928 |
Independent
Power and Renewable Electricity Producers |
— |
261,656 |
— |
261,656 |
Insurance |
— |
545,065 |
— |
545,065 |
Interactive
Media & Services |
135,701 |
1,014,040 |
— |
1,149,741 |
Life
Sciences Tools & Services |
— |
189,641 |
— |
189,641 |
Machinery |
— |
232,994 |
— |
232,994 |
Media |
— |
184,471 |
— |
184,471 |
Metals
& Mining |
— |
117,062 |
— |
117,062 |
Oil,
Gas & Consumable Fuels |
— |
337,350 |
— |
337,350 |
Pharmaceuticals |
109,284 |
160,429 |
— |
269,713 |
Real
Estate Management & Development |
190,436 |
— |
— |
190,436 |
Semiconductors
& Semiconductor Equipment |
— |
535,679 |
— |
535,679 |
Software |
— |
321,772 |
— |
321,772 |
Technology
Hardware, Storage & Peripherals |
— |
181,542 |
— |
181,542 |
Textiles,
Apparel & Luxury Goods |
— |
159,124 |
— |
159,124 |
Total
Common Stocks |
554,991 |
9,992,646 |
— |
10,547,637 |
Short-Term
Investments |
|
|
|
|
Investment
Companies |
10,004 |
— |
— |
10,004 |
Total
Investments in Securities |
$564,995 |
$9,992,646 |
$— |
$10,557,641 |
ActiveBuilders
Emerging Markets Equity ETF |
|
| ||
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Investments
in Securities |
|
|
|
|
Common
Stocks |
|
|
|
|
Australia |
$— |
$574,651 |
$— |
$574,651 |
Brazil |
54,130,160 |
— |
— |
54,130,160 |
Canada |
365,775 |
— |
— |
365,775 |
Chile |
3,718,850 |
— |
— |
3,718,850 |
China |
14,921,348 |
243,982,953 |
— |
258,904,301 |
Colombia |
553,052 |
— |
— |
553,052 |
Czech
Republic |
— |
358,063 |
— |
358,063 |
Ghana |
634,868 |
— |
— |
634,868 |
Greece |
1,303,260 |
2,806,292 |
— |
4,109,552 |
Hong
Kong |
— |
13,202,643 |
— |
13,202,643 |
Hungary |
960,637 |
2,208,227 |
— |
3,168,864 |
India |
12,694,794 |
124,002,579 |
— |
136,697,373 |
Indonesia |
714,895 |
17,977,505 |
— |
18,692,400 |
Kuwait |
— |
826,343 |
— |
826,343 |
Macau |
— |
833,222 |
— |
833,222 |
Malaysia |
429,703 |
3,569,596 |
— |
3,999,299 |
Mexico |
31,133,096 |
— |
— |
31,133,096 |
Panama |
457,975 |
— |
— |
457,975 |
58
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
ActiveBuilders
Emerging Markets Equity ETF (continued) |
|
| ||
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Peru |
$3,533,619 |
$— |
$— |
$3,533,619 |
Philippines |
485,562 |
1,277,361 |
— |
1,762,923 |
Poland |
— |
5,738,570 |
— |
5,738,570 |
Portugal |
— |
2,104,541 |
— |
2,104,541 |
Qatar |
2,735,013 |
1,610,135 |
— |
4,345,148 |
Russia |
— |
— |
147,215 |
147,215 |
Saudi
Arabia |
7,955,763 |
18,885,822 |
— |
26,841,585 |
South
Africa |
19,713,147 |
13,942,905 |
— |
33,656,052 |
South
Korea |
524,535 |
110,585,386 |
— |
111,109,921 |
Spain |
— |
358,022 |
— |
358,022 |
Switzerland |
— |
189,170 |
— |
189,170 |
Taiwan |
— |
134,767,444 |
— |
134,767,444 |
Thailand |
— |
14,709,242 |
— |
14,709,242 |
Turkey |
874,172 |
159,401 |
— |
1,033,573 |
United
Arab Emirates |
6,321,623 |
2,113,859 |
— |
8,435,482 |
United
Kingdom |
154,142 |
1,254,388 |
— |
1,408,530 |
United
States |
6,655,963 |
1,750,820 |
— |
8,406,783 |
Total
Common Stocks |
170,971,952 |
719,789,140 |
147,215 |
890,908,307 |
Short-Term
Investments |
|
|
|
|
Investment
Companies |
4,916,639 |
— |
— |
4,916,639 |
Total
Investments in Securities |
$175,888,591 |
$719,789,140 |
$147,215 |
$895,824,946 |
Global
Select Equity ETF |
|
| ||
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Investments
in Securities |
|
|
|
|
Common
Stocks |
|
|
|
|
Canada |
$4,590,123 |
$— |
$— |
$4,590,123 |
China |
7,940,746 |
— |
— |
7,940,746 |
Denmark |
— |
17,912,936 |
— |
17,912,936 |
France |
— |
55,726,955 |
— |
55,726,955 |
Germany |
— |
16,814,280 |
— |
16,814,280 |
Hong
Kong |
— |
5,083,501 |
— |
5,083,501 |
India |
7,730,102 |
— |
— |
7,730,102 |
Japan |
— |
23,848,508 |
— |
23,848,508 |
Mexico |
5,780,487 |
— |
— |
5,780,487 |
Netherlands |
— |
28,789,757 |
— |
28,789,757 |
Singapore |
— |
10,531,829 |
— |
10,531,829 |
South
Korea |
— |
9,751,197 |
— |
9,751,197 |
Sweden |
— |
7,633,586 |
— |
7,633,586 |
Switzerland |
— |
5,555,038 |
— |
5,555,038 |
Taiwan |
24,494,951 |
— |
— |
24,494,951 |
United
Kingdom |
— |
30,806,922 |
— |
30,806,922 |
United
States |
559,309,973 |
9,043,547 |
— |
568,353,520 |
Total
Common Stocks |
609,846,382 |
221,498,056 |
— |
831,344,438 |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
59
|
Global
Select Equity ETF (continued) |
|
| ||
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Short-Term
Investments |
|
|
|
|
Investment
Companies |
$10,930,514 |
$— |
$— |
$10,930,514 |
Total
Investments in Securities |
$620,776,896 |
$221,498,056 |
$— |
$842,274,952 |
Hedged
Equity Laddered Overlay ETF |
|
|
|
|
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Total
Investments in Securities (a) |
$60,411,224 |
$— |
$— |
$60,411,224 |
Depreciation
in Other Financial Instruments |
|
|
|
|
Futures
Contracts (a) |
$(21
) |
$— |
$— |
$(21
) |
Options
Written (a) |
|
|
|
|
Call
Options Written |
(53,449
) |
— |
— |
(53,449
) |
Put
Options Written |
(40,678
) |
— |
— |
(40,678
) |
Total
Depreciation in Other Financial Instruments |
$(94,148
) |
$— |
$— |
$(94,148
) |
| |
(a) |
Please
refer to the SOI for specifics of portfolio
holdings. |
International
Growth ETF |
|
| ||
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Investments
in Securities |
|
|
|
|
Common
Stocks |
|
|
|
|
Australia |
$— |
$1,765,825 |
$— |
$1,765,825 |
Belgium |
— |
551,559 |
— |
551,559 |
Brazil |
1,294,838 |
— |
— |
1,294,838 |
Canada |
4,531,052 |
— |
— |
4,531,052 |
China |
1,797,759 |
4,766,045 |
— |
6,563,804 |
Denmark |
— |
2,676,588 |
— |
2,676,588 |
France |
— |
9,074,295 |
— |
9,074,295 |
Germany |
— |
3,058,639 |
— |
3,058,639 |
Hong
Kong |
— |
798,530 |
— |
798,530 |
India |
1,569,053 |
— |
— |
1,569,053 |
Indonesia |
792,682 |
1,236,927 |
— |
2,029,609 |
Italy |
— |
343,569 |
— |
343,569 |
Japan |
— |
12,071,622 |
— |
12,071,622 |
Mexico |
1,015,835 |
— |
— |
1,015,835 |
Netherlands |
205,295 |
4,267,460 |
— |
4,472,755 |
Singapore |
— |
1,285,248 |
— |
1,285,248 |
South
Korea |
— |
509,639 |
— |
509,639 |
Spain |
— |
2,059,686 |
— |
2,059,686 |
Sweden |
— |
2,693,956 |
— |
2,693,956 |
Switzerland |
— |
1,165,126 |
— |
1,165,126 |
Taiwan |
4,179,821 |
— |
— |
4,179,821 |
United
Kingdom |
— |
9,355,276 |
— |
9,355,276 |
United
States |
2,328,795 |
5,556,720 |
— |
7,885,515 |
Total
Common Stocks |
17,715,130 |
63,236,710 |
— |
80,951,840 |
60
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
International
Growth ETF (continued) |
|
| ||
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Short-Term
Investments |
|
|
|
|
Investment
Companies |
$1,033,189 |
$— |
$— |
$1,033,189 |
Total
Investments in Securities |
$18,748,319 |
$63,236,710 |
$— |
$81,985,029 |
International
Value ETF |
|
| ||
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Investments
in Securities |
|
|
|
|
Common
Stocks |
|
|
|
|
Australia |
$— |
$589,497 |
$— |
$589,497 |
Austria |
64,375 |
83,688 |
— |
148,063 |
Belgium |
— |
36,953 |
— |
36,953 |
Brazil |
255,864 |
— |
— |
255,864 |
Canada |
631,669 |
— |
— |
631,669 |
Chile |
27,286 |
— |
— |
27,286 |
China |
— |
1,065,069 |
— |
1,065,069 |
Denmark |
— |
147,418 |
— |
147,418 |
Finland |
— |
141,667 |
— |
141,667 |
France |
— |
657,726 |
— |
657,726 |
Germany |
— |
612,760 |
— |
612,760 |
Greece |
— |
33,709 |
— |
33,709 |
Hong
Kong |
— |
104,022 |
— |
104,022 |
Hungary |
— |
36,066 |
— |
36,066 |
India |
39,943 |
— |
— |
39,943 |
Indonesia |
— |
32,758 |
— |
32,758 |
Ireland |
— |
66,486 |
— |
66,486 |
Italy |
68,359 |
481,421 |
— |
549,780 |
Japan |
— |
2,031,681 |
— |
2,031,681 |
Luxembourg |
— |
6,528 |
— |
6,528 |
Mexico |
35,489 |
— |
— |
35,489 |
Netherlands |
— |
425,978 |
— |
425,978 |
Norway |
36,634 |
95,423 |
— |
132,057 |
Poland |
— |
47,157 |
— |
47,157 |
Singapore |
— |
72,003 |
— |
72,003 |
South
Africa |
149,073 |
110,992 |
— |
260,065 |
South
Korea |
— |
718,158 |
— |
718,158 |
Spain |
— |
289,104 |
— |
289,104 |
Sweden |
— |
155,497 |
— |
155,497 |
Switzerland |
32,213 |
325,554 |
— |
357,767 |
Taiwan |
— |
350,629 |
— |
350,629 |
Thailand |
— |
61,044 |
— |
61,044 |
Turkey |
26,910 |
— |
— |
26,910 |
United
Kingdom |
31,882 |
578,454 |
— |
610,336 |
United
States |
— |
239,986 |
— |
239,986 |
Total
Common Stocks |
1,399,697 |
9,597,428 |
— |
10,997,125 |
Exchange-Traded
Funds |
108,403 |
— |
— |
108,403 |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
61
|
International
Value ETF (continued) |
|
| ||
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Short-Term
Investments |
|
|
|
|
Investment
Companies |
$336,217 |
$— |
$— |
$336,217 |
Total
Investments in Securities |
$1,844,317 |
$9,597,428 |
$— |
$11,441,745 |
ActiveBuilders
Emerging Markets Equity ETF |
$3 |
International
Growth ETF |
157 |
62
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
Active
China ETF | |||||||||
For
the period ended October 31, 2023 | |||||||||
Security
Description |
Value
at
March
15,
2023(a) |
Purchases
at
Cost |
Proceeds
from
Sales |
Net
Realized
Gain
(Loss) |
Change
in
Unrealized
Appreciation/
(Depreciation) |
Value
at
October
31,
2023 |
Shares
at
October
31,
2023 |
Dividend
Income |
Capital
Gain
Distributions |
JPMorgan
Prime Money Market Fund Class IM
Shares,
5.49% (b)
(c) |
$— |
$11,630,343 |
$11,619,765 |
$(575
) |
$1 |
$10,004 |
10,000 |
$3,317 |
$— |
| |
(a) |
Commencement
of operations was March 15, 2023. |
(b) |
Investment
in an affiliated fund, which is registered under the Investment Company
Act of 1940, as amended, and is advised by J.P. Morgan
Investment
Management Inc. |
(c) |
The
rate shown is the current yield as of October 31,
2023. |
ActiveBuilders
Emerging Markets Equity ETF | |||||||||
For
the year ended October 31, 2023 | |||||||||
Security
Description |
Value
at
October
31,
2022 |
Purchases
at
Cost |
Proceeds
from
Sales |
Net
Realized
Gain
(Loss) |
Change
in
Unrealized
Appreciation/
(Depreciation) |
Value
at
October
31,
2023 |
Shares
at
October
31,
2023 |
Dividend
Income |
Capital
Gain
Distributions |
JPMorgan
Prime Money Market Fund
Class
IM Shares, 5.49% (a)
(b) |
$3,448,509 |
$202,171,774 |
$200,713,928 |
$9,594 |
$690 |
$4,916,639 |
4,914,673 |
$191,415 |
$— |
JPMorgan
U.S. Government Money
Market
Fund Class IM Shares,
5.29%
(a)
(b) |
— |
744,540 |
744,540 |
— |
— |
— |
— |
243
* |
— |
Total |
$3,448,509 |
$202,916,314 |
$201,458,468 |
$9,594 |
$690 |
$4,916,639 |
|
$191,658 |
$— |
| |
(a) |
Investment
in an affiliated fund, which is registered under the Investment Company
Act of 1940, as amended, and is advised by J.P. Morgan
Investment
Management Inc. |
(b) |
The
rate shown is the current yield as of October 31,
2023. |
* |
Amount
is included on the Statements of Operations as Income from securities
lending (net) (after payments of rebates and Citibank’s
fee). |
Global
Select Equity ETF | |||||||||
For
the period ended October 31, 2023 | |||||||||
Security
Description |
Value
at
September
13,
2023(a) |
Purchases
at
Cost |
Proceeds
from
Sales |
Net
Realized
Gain
(Loss) |
Change
in
Unrealized
Appreciation/
(Depreciation) |
Value
at
October
31,
2023 |
Shares
at
October
31,
2023 |
Dividend
Income |
Capital
Gain
Distributions |
JPMorgan
Prime Money Market Fund
Class
IM Shares, 5.49% (b)
(c) |
$— |
$22,206,596 |
$11,276,079 |
$(179
) |
$176 |
$10,930,514 |
10,926,144 |
$34,824 |
$— |
| |
(a) |
Commencement
of operations was September 13, 2023. |
(b) |
Investment
in an affiliated fund, which is registered under the Investment Company
Act of 1940, as amended, and is advised by J.P. Morgan
Investment
Management Inc. |
(c) |
The
rate shown is the current yield as of October 31,
2023. |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
63
|
Hedged
Equity Laddered Overlay ETF | |||||||||
For
the period ended October 31, 2023 | |||||||||
Security
Description |
Value
at
September
28,
2023(a) |
Purchases
at
Cost |
Proceeds
from
Sales |
Net
Realized
Gain
(Loss) |
Change
in
Unrealized
Appreciation/
(Depreciation) |
Value
at
October
31,
2023 |
Shares
at
October
31,
2023 |
Dividend
Income |
Capital
Gain
Distributions |
JPMorgan
U.S. Government Money Market
Fund
Class IM Shares, 5.29% (b)
(c) |
$— |
$19,452,157 |
$19,000,972 |
$— |
$— |
$451,185 |
451,185 |
$12,405 |
$— |
| |
(a) |
Commencement
of operations was September 28, 2023. |
(b) |
Investment
in an affiliated fund, which is registered under the Investment Company
Act of 1940, as amended, and is advised by J.P. Morgan
Investment
Management Inc. |
(c) |
The
rate shown is the current yield as of October 31,
2023. |
International
Growth ETF | |||||||||
For
the year ended October 31, 2023 | |||||||||
Security
Description |
Value
at
October
31,
2022 |
Purchases
at
Cost |
Proceeds
from
Sales |
Net
Realized
Gain
(Loss) |
Change
in
Unrealized
Appreciation/
(Depreciation) |
Value
at
October
31,
2023 |
Shares
at
October
31,
2023 |
Dividend
Income |
Capital
Gain
Distributions |
JPMorgan
U.S. Government Money Market
Fund
Class IM Shares, 5.29% (a)
(b) |
$749,113 |
$2,972,140 |
$3,721,253 |
$— |
$— |
$— |
— |
$7,966
* |
$— |
JPMorgan
U.S. Government Money Market
Fund
Class IM Shares, 5.29% (a)
(b) |
2,455,095 |
21,691,779 |
23,113,685 |
— |
— |
1,033,189 |
1,033,189 |
62,958 |
— |
Total |
$3,204,208 |
$24,663,919 |
$26,834,938 |
$— |
$— |
$1,033,189 |
|
$70,924 |
$— |
| |
(a) |
Investment
in an affiliated fund, which is registered under the Investment Company
Act of 1940, as amended, and is advised by J.P. Morgan
Investment
Management Inc. |
(b) |
The
rate shown is the current yield as of October 31,
2023. |
* |
Amount
is included on the Statements of Operations as Income from securities
lending (net) (after payments of rebates and Citibank’s
fee). |
International
Value ETF | |||||||||
For
the period ended October 31, 2023 | |||||||||
Security
Description |
Value
at
September
13,
2023(a) |
Purchases
at
Cost |
Proceeds
from
Sales |
Net
Realized
Gain
(Loss) |
Change
in
Unrealized
Appreciation/
(Depreciation) |
Value
at
October
31,
2023 |
Shares
at
October
31,
2023 |
Dividend
Income |
Capital
Gain
Distributions |
JPMorgan
U.S. Government Money Market
Fund
Class IM Shares, 5.29% (b)
(c) |
$— |
$8,710,925 |
$8,374,708 |
$— |
$— |
$336,217 |
336,217 |
$3,517 |
$— |
| |
(a) |
Commencement
of operations was September 13, 2023. |
(b) |
Investment
in an affiliated fund, which is registered under the Investment Company
Act of 1940, as amended, and is advised by J.P. Morgan
Investment
Management Inc. |
(c) |
The
rate shown is the current yield as of October 31,
2023. |
64
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
65
|
|
Hedged
Equity
Laddered
Overlay ETF |
Futures
Contracts: |
|
Average
Notional Balance Long |
$331,230
(a) |
Ending
Notional Balance Long |
842,350 |
Exchange-Traded
Options: |
|
Average
Number of Contracts Purchased |
668
(a) |
Average
Number of Contracts Written |
(1,336
)(a) |
Ending
Number of Contracts Purchased |
1,419 |
Ending
Number of Contracts Written |
(2,838
) |
| |
(a) |
For
the period September 28, 2023 through October 31,
2023. |
66
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
|
Paid-in-Capital |
Accumulated
undistributed
(distributions
in
excess
of)
net
investment
income |
Accumulated
net
realized
gains
(losses) |
Active
China ETF |
$— |
$4,973 |
$(4,973
) |
ActiveBuilders
Emerging Markets Equity ETF |
9,685,139 |
2,161,126 |
(11,846,265
) |
Global
Select Equity ETF |
— |
(77,524
) |
77,524 |
International
Growth ETF |
— |
214,065 |
(214,065
) |
International
Value ETF |
— |
(1,749
) |
1,749 |
|
|
Active
China ETF |
0.65
% |
ActiveBuilders
Emerging Markets Equity ETF |
0.33 |
Global
Select Equity ETF |
0.47 |
Hedged
Equity Laddered Overlay ETF |
0.50 |
International
Growth ETF |
0.55 |
International
Value ETF |
0.55 |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
67
|
|
Purchases
(excluding
U.S.
Government) |
Sales
(excluding
U.S.
Government) |
Active
China ETF |
$14,657,025 |
$1,776,031 |
ActiveBuilders
Emerging Markets Equity ETF |
444,498,192 |
473,059,036 |
Global
Select Equity ETF |
47,013,417 |
21,799,134 |
Hedged
Equity Laddered Overlay ETF |
26,544,578 |
1,548,271 |
International
Growth ETF |
46,882,371 |
42,049,543 |
68
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
|
Purchases
(excluding
U.S.
Government) |
Sales
(excluding
U.S.
Government) |
International
Value ETF |
$10,153,216 |
$452,351 |
|
In-Kind
Purchases |
In-Kind
Sales |
ActiveBuilders
Emerging Markets Equity ETF |
$43,330,458 |
$109,428,293 |
Global
Select Equity ETF |
810,414,113 |
— |
Hedged
Equity Laddered Overlay ETF |
35,422,040 |
— |
International
Growth ETF |
20,628,880 |
— |
International
Value ETF |
1,986,103 |
— |
|
Aggregate
Cost |
Gross
Unrealized
Appreciation |
Gross
Unrealized
Depreciation |
Net
Unrealized
Appreciation
(Depreciation) |
Active
China ETF |
$12,654,834 |
$100,586 |
$2,197,779 |
$(2,097,193
) |
ActiveBuilders
Emerging Markets Equity ETF |
1,048,714,911 |
28,575,344 |
181,465,309 |
(152,889,965
) |
Global
Select Equity ETF |
845,786,281 |
17,326,552 |
20,837,881 |
(3,511,329
) |
Hedged
Equity Laddered Overlay ETF |
60,857,247 |
1,422,698 |
1,962,869 |
(540,171
) |
International
Growth ETF |
83,275,833 |
5,446,806 |
6,737,610 |
(1,290,804
) |
International
Value ETF |
11,973,728 |
123,906 |
655,889 |
(531,983
) |
|
Ordinary
Income* |
Total
Distributions
Paid |
ActiveBuilders
Emerging Markets Equity ETF |
$26,488,020 |
$26,488,020 |
International
Growth ETF |
548,251 |
548,251 |
| |
* |
Short-term
gain distributions are treated as ordinary income for income tax
purposes. |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
69
|
|
Ordinary
Income* |
Net
Long-Term
Capital
Gains |
Total
Distributions
Paid |
ActiveBuilders
Emerging Markets Equity ETF |
$5,165,856 |
$— |
$5,165,856 |
International
Growth ETF |
426,147 |
397,492 |
823,639 |
| |
* |
Short-term
gain distributions are treated as ordinary income for income tax
purposes. |
|
Current
Distributable
Ordinary
Income |
Current
Distributable
Long-Term
Capital
Gain
(Tax
Basis Capital
Loss
Carryover) |
Unrealized
Appreciation
(Depreciation) |
Active
China ETF |
$202,582 |
$(236,737
) |
$(2,097,197
) |
ActiveBuilders
Emerging Markets Equity ETF |
22,314,362 |
(130,572,141
) |
(153,284,005
) |
Global
Select Equity ETF |
202,411 |
(1,001,211
) |
(3,509,842
) |
Hedged
Equity Laddered Overlay ETF |
28,799 |
(147,186
) |
(540,171
) |
International
Growth ETF |
1,220,047 |
(14,592,859
) |
(1,293,068
) |
International
Value ETF |
39,254 |
(52,875
) |
(532,272
) |
|
Capital
Loss Carryforward Character
| |
|
Short-Term |
Long-Term |
Active
China ETF |
$236,737 |
$— |
ActiveBuilders
Emerging Markets Equity ETF |
80,921,269 |
49,650,872 |
Global
Select Equity ETF |
1,001,211 |
— |
Hedged
Equity Laddered Overlay ETF |
147,186 |
— |
International
Growth ETF |
8,005,243 |
6,587,616 |
International
Value ETF |
52,875 |
— |
70
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
|
Average
Borrowings |
Average
Interest
Rate
paid |
Number
of
Days
Outstanding |
Interest
Paid |
ActiveBuilders
Emerging Markets Equity ETF |
$2,328,244 |
5.94
% |
2 |
$763 |
|
JPMorgan
SmartRetirement
Funds |
ActiveBuilders
Emerging Markets Equity ETF |
49.9
% |
Global
Select Equity ETF |
97.7 |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
71
|
|
%
of Ownership |
Active
China ETF |
77
% |
International
Value ETF |
80 |
|
Active
China
ETF |
ActiveBuilders
Emerging
Markets
Equity
ETF |
International
Growth
ETF |
International
Value
ETF |
China |
99.9
% |
28.9
% |
—
% |
—
% |
France |
— |
— |
11.1 |
— |
India |
— |
15.3 |
— |
— |
Japan |
— |
— |
14.7 |
17.8 |
South
Korea |
— |
12.4 |
— |
— |
Taiwan |
— |
15.0 |
— |
— |
United
Kingdom |
— |
— |
11.4 |
— |
72
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
73
|
JPMorgan
Active China ETF (1) |
JPMorgan
ActiveBuilders Emerging Markets Equity ETF (2) |
JPMorgan
Global Select Equity ETF (3) |
JPMorgan
Hedged Equity Laddered Overlay ETF (4) |
JPMorgan
International Growth ETF (2) |
JPMorgan
International Value ETF (3) |
(1) |
Statement
of operations and statement of changes in net assets for the period March
15, 2023 (commencement of operations) through October
31,
2023 |
(2) |
Statement
of operations for the year ended October 31, 2023 and statement of changes
in net assets for the years ended October 31, 2023 and
2022 |
(3) |
Statement
of operations and statement of changes in net assets for the period
September 13, 2023 (commencement of operations) through
October
31, 2023 |
(4) |
Statement
of operations and statement of changes in net assets for the period
September 28, 2023 (commencement of operations) through
October
31, 2023 |
74
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
Name
(Year of Birth);
Positions
With
the
Funds (1) |
Principal
Occupation
During
Past 5 Years |
Number
of
Funds
in Fund
Complex
Overseen
by
Trustee (2) |
Other
Directorships Held
During
the Past 5 Years |
Independent
Trustees |
| ||
John
F. Finn (1947); Chair
since
2020; Trustee since
1998. |
Chairman,
Gardner, Inc. (supply chain
management
company serving industrial and
consumer
markets) (serving in various roles
1974-present). |
170 |
Director,
Greif, Inc. (GEF) (industrial
package
products and services)
(2007-present);
Trustee, Columbus
Association
for the Performing Arts
(1988-present). |
Stephen
P. Fisher (1959);
Trustee
since 2018. |
Retired;
Chairman and Chief Executive Officer,
NYLIFE
Distributors LLC (registered
broker-dealer)
(serving in various roles
2008-2013);
Chairman, NYLIM Service
Company
LLC (transfer agent) (2008-2017);
New
York Life Investment Management LLC
(registered
investment adviser) (serving in
various
roles 2005-2017); Chairman, IndexIQ
Advisors
LLC (registered investment adviser
for
ETFs) (2014-2017); President, MainStay VP
Funds
Trust (2007-2017), MainStay
DefinedTerm
Municipal Opportunities Fund
(2011-2017)
and MainStay Funds Trust
(2007-2017)
(registered investment
companies). |
170 |
Honors
Program Advisory Board
Member,
The Zicklin School of Business,
Baruch
College, The City University of
New
York (2017-present). |
Gary
L. French (1951);
Trustee
since 2014. |
Real
Estate Investor (2011-2020); Investment
management
industry Consultant and Expert
Witness
(2011-present); Senior Consultant for
The
Regulatory Fundamentals Group LLC
(2011-2017). |
170 |
Independent
Trustee, The China Fund,
Inc.
(2013-2019); Exchange Traded
Concepts
Trust II (2012-2014); Exchange
Traded
Concepts Trust I (2011-2014). |
Kathleen
M. Gallagher (1958);
Trustee
since 2018. |
Retired;
Chief Investment Officer — Benefit
Plans,
Ford Motor Company (serving in various
roles
1985-2016). |
170 |
Non-
Executive Director, Legal &
General
Investment Management
(Holdings)
(2018-present);
Non-Executive
Director, Legal &
General
Investment Management
America
(U.S. Holdings) (financial
services
and insurance) (2017-present);
Advisory
Board Member, State Street
Global
Advisors Total Portfolio
Solutions
(2017-present); Member,
Client
Advisory Council, Financial
Engines,
LLC (registered investment
adviser)
(2011-2016); Director, Ford
Pension
Funds Investment
Management
Ltd. (2007-2016). |
Robert
J. Grassi (1957);
Trustee
since 2014. |
Sole
Proprietor, Academy Hills Advisors LLC
(2012-present);
Pension Director, Corning
Incorporated
(2002-2012). |
170 |
None |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
75
|
Name
(Year of Birth);
Positions
With
the
Funds (1) |
Principal
Occupation
During
Past 5 Years |
Number
of
Funds
in Fund
Complex
Overseen
by
Trustee (2) |
Other
Directorships Held
During
the Past 5 Years |
Independent
Trustees (continued) |
| ||
Frankie
D. Hughes (1952);
Trustee
since 2008. |
President,
Ashland Hughes Properties
(property
management) (2014-present);
President
and Chief Investment Officer,
Hughes
Capital Management, Inc. (fixed
income
asset management) (1993-2014). |
170 |
None |
Raymond
Kanner (1953);
Trustee
since 2017. |
Retired;
Managing Director and Chief
Investment
Officer, IBM Retirement Funds
(2007-2016). |
170 |
Advisory
Board Member, Penso
Advisors,
LLC (2020-present); Advisory
Board
Member, Los Angeles Capital
(2018-present);
Advisory Board
Member,
State Street Global Advisors
Total
Portfolio Solutions (2017-
present);
Acting Executive Director,
Committee
on Investment of Employee
Benefit
Assets (CIEBA) (2016-2017);
Advisory
Board Member, Betterment
for
Business (robo advisor) (2016-
2017);
Advisory Board Member,
BlueStar
Indexes (index creator)
(2013-2017);
Director, Emerging
Markets
Growth Fund (registered
investment
company) (1997-2016);
Member,
Russell Index Client Advisory
Board
(2001-2015). |
Thomas
P. Lemke (1954);
Trustee
since 2014. |
Retired
since 2013. |
170 |
(1)
Independent Trustee of Advisors’
Inner
Circle III fund platform, consisting
of
the following: (i) the Advisors’ Inner
Circle
Fund III, (ii) the Gallery Trust, (iii)
the
Schroder Series Trust, (iv) the
Delaware
Wilshire Private Markets Fund
(since
2020), (v) Chiron Capital
Allocation
Fund Ltd., and (vi) formerly
the
Winton Diversified Opportunities
Fund
(2014-2018); and (2) Independent
Trustee
of the Symmetry Panoramic
Trust
(since 2018). |
Lawrence
R. Maffia (1950);
Trustee
since 2014. |
Retired;
Director and President, ICI Mutual
Insurance
Company (2006-2013). |
170 |
Director,
ICI Mutual Insurance Company
(1999-2013). |
Mary
E. Martinez (1960); Vice
Chair
since 2021; Trustee
since
2013. |
Associate,
Special Properties, a Christie’s
International
Real Estate Affiliate
(2010-present);
Managing Director, Bank of
America
(asset management) (2007-2008);
Chief
Operating Officer, U.S. Trust Asset
Management,
U.S. Trust Company (asset
management)
(2003-2007); President,
Excelsior
Funds (registered investment
companies)
(2004-2005). |
170 |
None |
Marilyn
McCoy (1948);
Trustee
since 1999. |
Retired;
Vice President of Administration and
Planning,
Northwestern University
(1985-2023). |
170 |
None |
76
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
Name
(Year of Birth);
Positions
With
the
Funds (1) |
Principal
Occupation
During
Past 5 Years |
Number
of
Funds
in Fund
Complex
Overseen
by
Trustee (2) |
Other
Directorships Held
During
the Past 5 Years |
Independent
Trustees (continued) |
| ||
Dr.
Robert A. Oden, Jr.
(1946);
Trustee
since
1997. |
Retired;
President, Carleton College
(2002-2010);
President, Kenyon College
(1995-2002). |
170 |
Trustee,
The Coldwater Conservation
Fund
(2017-present); Trustee, American
Museum
of Fly Fishing (2013-present);
Trustee
and Vice Chair, Trout Unlimited
(2017-2021);
Trustee, Dartmouth-
Hitchcock
Medical Center (2011-2020). |
Marian
U. Pardo* (1946);
Trustee
since 2013. |
Managing
Director and Founder, Virtual
Capital
Management LLC (investment
consulting)
(2007-present); Managing Director,
Credit
Suisse Asset Management (portfolio
manager)
(2003-2006). |
170 |
Board
Chair and Member, Board of
Governors,
Columbus Citizens
Foundation
(not-for-profit supporting
philanthropic
and cultural programs)
(2006-present). |
Emily
A. Youssouf (1951);
Trustee
since 2014. |
Adjunct
Professor (2011-present) and Clinical
Professor
(2009-2011), NYU Schack Institute of
Real
Estate; Board Member and Member of the
Audit
Committee (2013–present), Chair of
Finance
Committee (2019-present), Member of
Related
Parties Committee (2013-2018) and
Member
of the Enterprise Risk Committee
(2015-2018),
PennyMac Financial Services, Inc.;
Board
Member (2005-2018), Chair of Capital
Committee
(2006-2016), Chair of Audit
Committee
(2005-2018), Member of Finance
Committee
(2005-2018) and Chair of IT
Committee
(2016-2018), NYC Health and
Hospitals
Corporation. |
170 |
Trustee,
NYC School Construction
Authority
(2009-present); Board
Member,
NYS Job Development
Authority
(2008-present); Trustee and
Chair
of the Audit Committee of the
Transit
Center Foundation (2015-2019). |
Interested
Trustees |
| ||
Robert
F. Deutsch** (1957);
Trustee
since 2014. |
Retired;
Head of ETF Business for JPMorgan
Asset
Management (2013-2017); Head of
Global
Liquidity Business for JPMorgan Asset
Management
(2003-2013). |
170 |
Treasurer
and Director of the JUST
Capital
Foundation (2017-present). |
Nina
O. Shenker** (1957);
Trustee
since 2022. |
Vice
Chair (2017-2021), General Counsel and
Managing
Director (2008-2016), Associate
General
Counsel and Managing Director
(2004-2008),
J.P. Morgan Asset & Wealth
Management. |
170 |
Director
and Member of Legal and
Human
Resources Subcommittees,
American
Jewish Joint Distribution
Committee
(2018-present). |
| |||
(1) |
The
year shown is the first year in which a Trustee became a member of any of
the following: the JPMorgan Mutual Fund Board, the JPMorgan
ETF
Board, the heritage J.P. Morgan Funds or the heritage One Group Mutual
Funds. Trustees serve an indefinite term, until resignation,
retirement,
removal or death. The Board's current retirement policy sets retirement at
the end of the calendar year in which the Trustee attains
the
age of 75, provided that any Board member who was a member of the JPMorgan
Mutual Fund Board prior to January 1, 2022 and was born
prior
to January 1, 1950 shall retire from the Board at the end of the calendar
year in which the Trustee attains the age of 78. | ||
(2) |
A
Fund Complex means two or more registered investment companies that hold
themselves out to investors as related companies for purposes
of
investment and investor services or have a common investment adviser or
have an investment adviser that is an affiliated person of the
investment
adviser of any of the other registered investment companies. The J.P.
Morgan Funds Complex for which the Board of Trustees serves
currently
includes nine registered investment companies (170 J.P. Morgan
Funds). | ||
* |
In
connection with prior employment with JPMorgan Chase, Ms. Pardo was the
recipient of non-qualified pension plan payments from JPMorgan
Chase
in the amount of approximately $2,055 per month, which she irrevocably
waived effective January 1, 2013, and deferred compensation
payments
from JPMorgan Chase in the amount of approximately $7,294 per year, which
ended in January 2013. In addition, Ms. Pardo receives
payments
from a fully-funded qualified plan, which is not an obligation of JPMorgan
Chase. |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
77
|
** |
Designation
as an “Interested Trustee” is based on prior employment by the Adviser or
an affiliate of the Adviser or interests in a control person
of
the Adviser. | ||
|
The
contact address for each of the Trustees is 277 Park Avenue, New York, NY
10172. |
78
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
Name
(Year of Birth),
Positions
Held with
the
Trust (Since) |
Principal
Occupations During Past 5 Years |
Brian
S. Shlissel (1964),
President
and Principal Executive
Officer
(2021) |
Managing
Director and Chief Administrative Officer for J.P. Morgan pooled vehicles,
J.P. Morgan Investment
Management
Inc. since 2014. |
Timothy
J. Clemens (1975),
Treasurer
and Principal Financial
Officer
(2020) |
Managing
Director, J.P. Morgan Investment Management Inc. Mr. Clemens has been with
J.P. Morgan
Investment
Management Inc. since 2013. |
Gregory
S. Samuels (1980),
Secretary
(2022) (formerly
Assistant
Secretary
2014-2022) |
Managing
Director and Assistant General Counsel, JPMorgan Chase & Co. Mr.
Samuels has been with
JPMorgan
Chase & Co. since 2010. |
Stephen
M. Ungerman (1953),
Chief
Compliance Officer (2014) |
Managing
Director, JPMorgan Chase & Co. Mr. Ungerman has been with JPMorgan
Chase & Co. since 2000. |
Kiesha
Astwood-Smith (1973),
Assistant
Secretary (2021) |
Vice
President and Assistant General Counsel, JPMorgan Chase & Co. since
June 2021; Senior Director and
Counsel,
Equitable Financial Life Insurance Company (formerly, AXA Equitable Life
Insurance Company) from
September
2015 through June 2021. |
Matthew
Beck (1988),
Assistant
Secretary (2021)* |
Vice
President and Assistant General Counsel, JPMorgan Chase & Co. since
May 2021; Senior Legal Counsel,
Ultimus
Fund Solutions from May 2018 through May 2021; General Counsel, The
Nottingham Company from
April
2014 through May 2018. |
Elizabeth
A. Davin (1964),
Assistant
Secretary (2022)
(formerly
Secretary 2018-2022)* |
Executive
Director and Assistant General Counsel, JPMorgan Chase & Co. Ms. Davin
has been with JPMorgan
Chase
& Co. (formerly Bank One Corporation) since
2004. |
Jessica
K. Ditullio (1962),
Assistant
Secretary (2014)* |
Executive
Director and Assistant General Counsel, JPMorgan Chase & Co. Ms.
Ditullio has been with JPMorgan
Chase
& Co. (formerly Bank One Corporation) since
1990. |
Anthony
Geron (1971),
Assistant
Secretary (2019) |
Vice
President and Assistant General Counsel, JPMorgan Chase & Co. since
September 2018; Lead Director
and
Counsel, AXA Equitable Life Insurance Company from 2015 to 2018 and Senior
Director and Counsel, AXA
Equitable
Life Insurance Company from 2014 to 2015. |
Carmine
Lekstutis (1980),
Assistant
Secretary (2014) |
Executive
Director and Assistant General Counsel, JPMorgan Chase & Co. Mr.
Lekstutis has been with
JPMorgan
Chase & Co. since 2011. |
Max
Vogel (1990),
Assistant
Secretary (2021) |
Vice
President and Assistant General Counsel, JPMorgan Chase & Co. since
June 2021; Associate, Proskauer
Rose
LLP (law firm) from March 2017 to June 2021. |
Zachary
E. Vonnegut-Gabovitch
(1986),
Assistant
Secretary (2017) |
Executive
Director and Assistant General Counsel, JPMorgan Chase & Co. Mr.
Vonnegut-Gabovitch has been
with
JPMorgan Chase & Co. since September 2016.
|
Frederick
J. Cavaliere (1978),
Assistant
Treasurer (2015)** |
Executive
Director, J.P. Morgan Investment Management Inc. Mr. Cavaliere has been
with JPMorgan Chase &
Co.
since May 2006. |
Michael
M. D’Ambrosio (1969),
Assistant
Treasurer (2014) |
Managing
Director, J.P. Morgan Investment Management Inc. Mr. D’Ambrosio has been
with J.P. Morgan
Investment
Management Inc. since 2012. |
Aleksandr
Fleytekh (1972),
Assistant
Treasurer (2023) |
Executive
Director, J.P. Morgan Investment Management Inc. Mr. Fleytekh has been
with J.P. Morgan
Investment
Management Inc. since February 2012. |
Shannon
Gaines (1977),
Assistant
Treasurer (2019)* |
Executive
Director, J.P. Morgan Investment Management Inc. Mr. Gaines has been with
J.P. Morgan Investment
Management
Inc. since January 2014. |
Jeffrey
D. House (1972),
Assistant
Treasurer (2023)* |
Vice
President, J.P. Morgan Investment Management Inc. Mr. House has been with
J.P. Morgan Investment
Management
Inc. since July 2006. |
Michael
Mannarino (1985),
Assistant
Treasurer (2023) |
Vice
President, J.P. Morgan Investment Management Inc. Mr. Mannarino has been
with J.P. Morgan Investment
Management
Inc. since 2014. |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
79
|
Nektarios
E. Manolakakis (1972),
Assistant
Treasurer (2020) |
Executive
Director, J.P. Morgan Investment Management Inc. since February 2021,
formerly Vice President, J.P.
Morgan
Investment Management Inc. since 2014; Vice President, J.P. Morgan
Corporate & Investment Bank
2010-2014. |
Todd
McEwen (1981),
Assistant
Treasurer (2020)* |
Vice
President, J.P. Morgan Investment Management Inc. Mr. McEwen has been with
J.P. Morgan Investment
Management
Inc. since 2010. |
Joseph
Parascondola (1963),
Assistant
Treasurer (2023)** |
Executive
Director, J.P. Morgan Investment Management Inc. Mr. Parascondola has been
with J.P. Morgan
Investment
Management Inc. since 2006. |
Gillian
I. Sands (1969),
Assistant
Treasurer (2023) |
Executive
Director, J.P. Morgan Investment Management Inc. Ms. Sands has been with
J.P. Morgan Investment
Management
Inc. since September 2012. |
| |
The
contact address for each of the officers, unless otherwise noted, is 277
Park Avenue, New York, NY 10172. | |
* |
The
contact address for the officer is 1111 Polaris Parkway, Columbus, OH
43240. |
** |
The
contact address for the officer is 575 Washington Boulevard, Jersey City,
NJ 07310.
|
80
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
|
Beginning
Account
Value
May
1, 2023 |
Ending
Account
Value
October
31, 2023 |
Expenses
Paid
During
the
Period |
Annualized
Expense
Ratio |
JPMorgan
Active China ETF |
|
|
|
|
Actual * |
$1,000.00 |
$851.00 |
$3.03 |
0.65
% |
Hypothetical * |
1,000.00 |
1,021.93 |
3.31 |
0.65 |
JPMorgan
ActiveBuilders Emerging Markets Equity ETF |
|
|
|
|
Actual * |
1,000.00 |
940.70 |
1.61 |
0.33 |
Hypothetical * |
1,000.00 |
1,023.54 |
1.68 |
0.33 |
JPMorgan
Global Select Equity ETF |
|
|
|
|
Actual *** |
1,000.00 |
959.60 |
0.61 |
0.47 |
Hypothetical * |
1,000.00 |
1,022.84 |
2.40 |
0.47 |
JPMorgan
Hedged Equity Laddered Overlay ETF |
|
|
|
|
Actual ** |
1,000.00 |
985.60 |
0.45 |
0.50 |
Hypothetical * |
1,000.00 |
1,022.68 |
2.55 |
0.50 |
JPMorgan
International Growth ETF |
|
|
|
|
Actual * |
1,000.00 |
892.30 |
2.62 |
0.55 |
Hypothetical * |
1,000.00 |
1,022.43 |
2.80 |
0.55 |
JPMorgan
International Value ETF |
|
|
|
|
Actual *** |
1,000.00 |
958.50 |
0.71 |
0.55 |
Hypothetical * |
1,000.00 |
1,022.43 |
2.80 |
0.55 |
| |
* |
Expenses
are equal to each Fund's annualized net expense ratio, multiplied by the
average account value over the period, multiplied by
184/365
(to reflect the one-half year period). |
** |
Expenses
are equal to the Fund’s annualized net expense ratio, multiplied by the
average account value over the period, multiplied by
33/365 (to
reflect the actual period). The Fund commenced operations on September 28,
2023. |
*** |
Expenses
are equal to the Fund’s annualized net expense ratio, multiplied by the
average account value over the period, multiplied by
48/365 (to
reflect the actual period). The Fund commenced operations on September 13,
2023. |
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
81
|
82
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
83
|
84
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
85
|
86
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|
October
31, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
87
|
|
Qualified
Dividend
Income |
JPMorgan
Active China ETF |
$23,005 |
JPMorgan
ActiveBuilders Emerging Markets Equity
ETF |
18,136,526 |
JPMorgan
International Growth ETF |
688,363 |
JPMorgan
International Value ETF |
790 |
|
Total
Foreign
Source
Income |
Total
Foreign Tax
Credit |
JPMorgan
Active China ETF |
$260,383 |
$23,005 |
JPMorgan
ActiveBuilders
Emerging
Markets Equity ETF |
32,792,869 |
3,623,244 |
JPMorgan
International Growth
ETF |
1,637,811 |
140,112 |
JPMorgan
International Value ETF |
55,079 |
7,548 |
88
|
J.P.
Morgan Exchange-Traded Funds
|
October
31, 2023
|