UNDER THE SECURITIES ACT OF 1933 |
☒ |
Pre-Effective Amendment No. |
☐ |
Post-Effective Amendment No. 364 |
☒ |
UNDER THE INVESTMENT COMPANY ACT OF 1940 |
☒ |
Amendment No. 366 |
☒ |
Zachary E. Vonnegut-Gabovitch, Esq. JPMorgan Chase & Co. 4 New York Plaza New York, New York 10004 |
Jon S. Rand, Esq. Dechert LLP 1095 Avenue of the Americas New York, NY 10036 |
☐ |
immediately upon filing pursuant to paragraph (b) |
☒ |
on July 1, 2022 pursuant to paragraph (b) |
☐ |
60 days after filing pursuant to paragraph (a)(1) |
☐ |
on (date) pursuant to paragraph (a)(1) |
☐ |
75 days after filing pursuant to paragraph (a)(2) |
☐ |
on (date) pursuant to paragraph (a)(2) |
☐ |
The post-effective amendment designates a new effective date for a previously filed post-effective amendment. |
JPMorgan BetaBuilders MSCI US REIT ETF |
Ticker: BBRE |
Listing Exchange: Cboe BZX Exchange, Inc. |
| |
Management Fees |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
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| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
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|
|
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|
|
|
|
|
|
|
|
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|
|
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| ||
|
Past |
Life of Fund since |
|
1 Year |
|
SHARES |
|
|
Return Before Taxes |
|
|
Return After Taxes on Distributions |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
MSCI US REIT INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
|
|
MSCI US REIT CUSTOM CAPPED INDEX1 (Reflects No Deduction for Fees, Expenses, or Taxes) |
|
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Nicholas D’Eramo |
2018 |
Executive Director |
Michael Loeffler |
2018 |
Executive Director |
Oliver Furby |
2018 |
Executive Director |
Alex Hamilton |
2018 |
Executive Director |
NON-FUNDAMENTAL INVESTMENT OBJECTIVE |
An investment objective is fundamental if it cannot be changed without the consent of a majority of the outstanding Shares of the Fund. The Fund’s investment objective is not fundamental and may be changed without the consent of a majority of the outstanding Shares of the Fund. |
|
BetaBuilders MSCI US REIT ETF |
Authorized Participant Concentration Risk |
• |
Concentration Risk |
• |
Cyber Security Risk |
○ |
|
BetaBuilders MSCI US REIT ETF |
Derivatives Risk |
• |
Equity Market Risk |
• |
General Market Risk |
• |
Index Related Risk |
• |
Investment Company Risk |
○ |
Market Trading Risk |
• |
Passive Management Risk |
• |
Real Estate Securities Risk |
• |
Sampling Risk |
• |
Securities Lending Risk |
○ |
Smaller Company Risk |
• |
Tax Risk |
• |
Transactions and Liquidity Risk |
○ |
Volcker Rule Risk |
○ |
WHAT IS A DERIVATIVE? |
Derivatives are securities or contracts (for example, futures) that derive their value from the performance of underlying assets or securities. |
|
Per share operating performance | ||||||
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|
Investment operations |
Distributions | ||||
|
Net asset value, beginning of period |
Net investment income (loss) (b) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
Net realized gain |
Total distributions |
JPMorgan BetaBuilders MSCI US REIT ETF |
|
|
|
|
|
|
|
Year Ended February 28, 2022 |
$82.46 |
$1.93 |
$17.48 |
$19.41 |
$(1.89) |
$— |
$(1.89) |
Year Ended February 28, 2021 |
82.62 |
2.07 |
0.28(f) |
2.35 |
(2.51) |
— |
(2.51) |
Year Ended February 29, 2020 |
81.21 |
2.55 |
0.80(f) |
3.35 |
(1.85) |
(0.09) |
(1.94) |
June 15, 2018 (h) through February 28, 2019 |
75.67 |
1.85 |
5.10 |
6.95 |
(1.35) |
(0.06) |
(1.41) |
|
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Ratios/Supplemental data | |||||||
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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) | |
|
|
|
|
|
|
|
|
| |
$99.98 |
$100.02 |
23.55% |
23.45% |
$1,357,276,384 |
0.11% |
1.96% |
0.11% |
5% | |
82.46 |
82.56 |
3.37 |
3.36 |
944,122,915 |
0.11 |
2.82 |
0.11 |
7 | |
82.62 |
82.73 |
4.06 |
4.18 |
1,206,297,493 |
0.11 |
2.88 |
0.16(g) |
5 | |
81.21 |
81.22 |
9.40 |
9.41(i) |
136,028,924 |
0.11(j) |
3.37 |
0.40(g)(j) |
5 |
|
Ticker |
Listing Exchange |
JPMorgan BetaBuilders 1–5 Year U.S. Aggregate Bond ETF |
BBSA |
Cboe BZX Exchange, Inc. |
JPMorgan Core Plus Bond ETF |
JCPB |
Cboe BZX Exchange, Inc. |
JPMorgan Corporate Bond Research Enhanced ETF |
JIGB |
NYSE Arca |
JPMorgan High Yield Research Enhanced ETF |
JPHY |
Cboe BZX Exchange, Inc. |
JPMorgan Income ETF |
JPIE |
NYSE Arca |
JPMorgan International Bond Opportunities ETF |
JPIB |
Cboe BZX Exchange, Inc. |
JPMorgan Municipal ETF |
JMUB |
Cboe BZX Exchange, Inc. |
JPMorgan Short Duration Core Plus ETF |
JSCP |
NYSE Arca |
JPMorgan U.S. Aggregate Bond ETF |
JAGG |
NYSE Arca |
JPMorgan Ultra-Short Income ETF |
JPST |
Cboe BZX Exchange, Inc. |
JPMorgan Ultra-Short Municipal Income ETF |
JMST |
Cboe BZX Exchange, Inc. |
JPMorgan USD Emerging Markets Sovereign Bond ETF |
JPMB |
NYSE Arca |
| |
1 | |
6 | |
13 | |
19 | |
24 | |
33 | |
41 | |
47 | |
54 | |
59 | |
66 | |
72 | |
80 | |
80 | |
97 | |
118 | |
118 | |
118 |
119 | |
120 | |
120 | |
120 | |
121 | |
126 | |
126 | |
126 | |
126 | |
128 | |
129 | |
129 | |
131 | |
131 | |
131 | |
131 | |
132 | |
140 | |
Back cover |
| |
Management Fees |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Past |
Life of Fund since |
|
1 Year |
|
SHARES |
|
|
Return Before Taxes |
- |
|
Return After Taxes on Distributions |
- |
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
BLOOMBERG SHORT-TERM U.S. AGGREGATE BOND INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Eric Isenberg |
2019 |
Managing Director |
Naveen Kumar |
2019 |
Executive Director |
Behnood Noei |
2019 |
Vice President |
Jonathan Msika |
2020 |
Vice President |
| |
Management Fees |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Past |
Life of Fund since |
|
1 Year |
|
SHARES |
|
|
Return Before Taxes |
- |
|
Return After Taxes on Distributions |
- |
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
BLOOMBERG U.S. AGGREGATE INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Steven Lear |
2019 |
Managing Director |
Richard Figuly |
2019 |
Managing Director |
J. Andrew Norelli |
2019 |
Managing Director |
Lisa Coleman |
2020 |
Managing Director |
Thomas Hauser |
2020 |
Managing Director |
| |
Management Fees |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Past |
Life of Fund since |
|
1 Year |
|
SHARES |
|
|
Return Before Taxes |
- |
|
Return After Taxes on Distributions |
- |
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
BLOOMBERG U.S. CORPORATE INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Lisa Coleman |
2018 |
Managing Director |
Lorenzo Napolitano |
2018 |
Executive Director |
Naveen Kumar |
2021 |
Executive Director |
Qiwei Zhu |
2021 |
Executive Director |
Sameer Iqbal |
2018 |
Executive Director |
| |
Management Fees |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
|
Past |
Past |
Life of Fund since |
|
1 Year |
5 Years |
|
SHARES |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
BLOOMBERG U.S. CORPORATE HIGH YIELD - 2% ISSUER CAPPED INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
|
|
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
James P. Shanahan |
2016 |
Managing Director |
Naveen Kumar |
2021 |
Executive Director |
Qiwei Zhu |
2021 |
Executive Director |
Alexander Sammarco |
2016 |
Executive Director |
| |
Management Fees |
|
Other Expenses2 |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
| ||
|
1 Year |
3 Years |
SHARES ($) |
|
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
J. Andrew Norelli |
2021 |
Managing Director |
Andrew Headley |
2021 |
Managing Director |
Thomas Hauser |
2021 |
Managing Director |
| |
Management Fees |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Past |
Life of Fund since |
|
1 Year |
|
SHARES |
|
|
Return Before Taxes |
|
|
Return After Taxes on Distributions |
- |
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
BLOOMBERG MULTIVERSE EX-USA (USD HEDGED) INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Bob Michele |
2017 |
Managing Director |
Iain Stealey |
2017 |
Managing Director |
Lisa Coleman |
2020 |
Managing Director |
Peter Aspbury |
2020 |
Managing Director |
| |
Management Fees |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Past |
Life of Fund since |
|
1 Year |
|
SHARES |
|
|
Return Before Taxes |
|
|
Return After Taxes on Distributions |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
BLOOMBERG U.S. 1-15 YEAR BLEND (1-17) MUNICIPAL BOND INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
|
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Richard Taormina |
2018 |
Managing Director |
Michelle V. Hallam |
2018 |
Managing Director |
Kevin M. Ellis |
2018 |
Managing Director |
Michael R. Myers |
2018 |
Executive Director |
| |
Management Fees |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Steven Lear |
2021 |
Managing Director |
Cary Fitzgerald |
2021 |
Managing Director |
| |
Management Fees |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Past |
Life of Fund since |
|
1 Year |
|
SHARES |
|
|
Return Before Taxes |
- |
|
Return After Taxes on Distributions |
- |
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
BLOOMBERG U.S. AGGREGATE INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Eric Isenberg |
2018 |
Managing Director |
Niels Schuehle |
2018 |
Executive Director |
Naveen Kumar |
2018 |
Executive Director |
Jonathan Msika |
2021 |
Vice President |
Behnood Noei |
2020 |
Vice President |
| |
Management Fees |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Past |
Life of Fund since |
|
1 Year |
|
SHARES |
|
|
Return Before Taxes |
|
|
Return After Taxes on Distributions |
- |
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
ICE BOFAML 3-MONTH US TREASURY BILL INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
|
|
Portfolio Manager |
Managed Fund Since |
Primary Title with Investment Adviser |
James McNerny |
2017 |
Managing Director |
David Martucci |
2017 |
Managing Director |
Cecilia Junker |
2017 |
Managing Director |
Kyongsoo Noh |
2017 |
Managing Director |
| |
Management Fees |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Past |
Life of Fund since |
|
1 Year |
|
SHARES |
|
|
Return Before Taxes |
|
|
Return After Taxes on Distributions |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
BLOOMBERG 1 YEAR MUNICIPAL BOND INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
|
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Richard Taormina |
2018 |
Managing Director |
Curtis White |
2018 |
Executive Director |
Josh Brunner |
2018 |
Executive Director |
| |
Management Fees |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Past |
Life of Fund since |
|
1 Year |
|
SHARES |
|
|
Return Before Taxes |
- |
|
Return After Taxes on Distributions |
- |
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
JPMORGAN EMERGING MARKETS RISK- AWARE BOND INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
Portfolio Manager |
|
Managed the Fund Since |
Primary Title with Investment Adviser |
Eric Isenberg |
|
2018 |
Managing Director |
Niels Schuehle |
|
2018 |
Executive Director |
Naveen Kumar |
|
2018 |
Executive Director |
Market Sector |
Min |
Max |
U.S. Treasury & Agency |
10% |
50% |
U.S. Agency Residential Mortgage-Backed Securities |
10% |
30% |
Asset-Backed Securities |
0% |
20% |
Commercial Mortgage-Backed Securities |
0% |
20% |
Investment Grade Corporate Debt Securities |
20% |
50% |
High Yield Corporate Debt |
0% |
20% |
Emerging Markets Debt |
0% |
15% |
NON-FUNDAMENTAL INVESTMENT OBJECTIVES |
An investment objective is fundamental if it cannot be changed without the consent of a majority of the outstanding Shares of each Fund. Each Fund’s investment objective is not fundamental and may be changed without the consent of a majority of the outstanding Shares of the Fund. |
|
BetaBuilders 1–5 Year U.S. Aggregate Bond ETF |
Core Plus Bond ETF |
Corporate Bond Research Enhanced ETF |
High Yield Research Enhanced ETF |
Income ETF |
International Bond Opportunities ETF |
Municipal ETF |
Short Duration Core Plus ETF |
U.S. Aggregate Bond ETF |
Ultra-Short Income ETF |
Ultra-Short Municipal Income ETF |
USD Emerging Markets Sovereign Bond ETF |
Alternative Minimum Tax Risk |
|
|
|
|
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|
○ |
|
|
|
• |
|
Asset-Backed, Mortgage-Related and Mortgage-Backed Securities Risk |
• |
• |
|
|
• |
• |
• |
• |
• |
• |
• |
|
Auction Rate Securities Risk |
|
|
|
|
|
|
• |
|
|
|
• |
|
Authorized Participant Concentration Risk |
• |
• |
• |
• |
• |
• |
• |
• |
• |
• |
• |
• |
Cash Transactions Risk |
• |
• |
• |
• |
|
• |
• |
• |
• |
• |
• |
• |
Concentration Risk |
• |
|
|
|
|
|
• |
|
|
|
• |
|
Convertible Securities Risk |
|
○ |
|
• |
• |
○ |
|
|
|
|
|
|
Covenant Lite Loan Risk |
|
• |
|
|
• |
○ |
|
○ |
|
|
|
|
CPI-U Strategy Risk |
|
• |
|
|
|
○ |
|
○ |
|
|
|
|
Credit Risk |
• |
• |
• |
• |
• |
• |
• |
• |
• |
• |
• |
• |
Currency Risk |
|
• |
|
|
• |
• |
|
• |
|
|
|
|
Cyber Security Risk |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
Debt Securities and Other Callable Securities Risk |
|
|
|
|
|
|
• |
|
|
|
• |
|
Derivatives Risk |
○ |
• |
• |
|
• |
• |
○ |
• |
○ |
• |
○ |
• |
Distribution Risk |
|
|
|
|
• |
|
|
|
|
|
|
|
Equity Market Risk |
|
|
|
○ |
• |
|
|
|
|
|
|
|
ETF and Other Investment Company Risk |
|
• |
|
|
○ |
○ |
○ |
○ |
• |
• |
○ |
○ |
European Market Risk |
|
|
|
|
• |
|
|
|
|
|
|
|
Financials Sector Risk |
|
|
• |
|
|
|
|
|
|
|
|
|
Floating and Variable Rate Securities Risk |
|
|
|
|
|
|
• |
|
|
• |
• |
|
Foreign Issuer Risk |
○ |
○ |
• |
|
• |
|
|
• |
• |
|
|
|
Foreign Municipal Securities Risk |
|
|
|
|
|
|
|
|
|
|
|
○ |
Foreign Securities and Emerging Markets Risk |
○ |
• |
• |
• |
• |
• |
|
• |
• |
• |
|
• |
General Market Risk |
• |
• |
• |
• |
• |
• |
• |
• |
• |
• |
• |
• |
Geographic Focus Risk |
• |
• |
• |
|
• |
• |
|
• |
• |
|
|
• |
Government Securities Risk |
• |
• |
○ |
|
• |
• |
• |
• |
• |
• |
• |
|
High Portfolio Turnover Risk |
|
○ |
○ |
|
|
○ |
○ |
• |
|
○ |
○ |
|
High Yield Securities Risk |
|
• |
○ |
• |
• |
• |
• |
• |
|
• |
• |
• |
Index Related Risk |
• |
|
|
|
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BetaBuilders 1–5 Year U.S. Aggregate Bond ETF |
Core Plus Bond ETF |
Corporate Bond Research Enhanced ETF |
High Yield Research Enhanced ETF |
Income ETF |
International Bond Opportunities ETF |
Municipal ETF |
Short Duration Core Plus ETF |
U.S. Aggregate Bond ETF |
Ultra-Short Income ETF |
Ultra-Short Municipal Income ETF |
USD Emerging Markets Sovereign Bond ETF |
Industry and Sector Focus Risk |
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Industry Concentration Risk |
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Inflation-Linked and Inflation-Protected Security Risk |
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Interest Rate Risk |
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Inverse Floater Risk |
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Investment in J.P. Morgan ETFs Risk |
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LIBOR Discontinuance or Unavailability Risk |
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Loan Risk |
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Market Trading Risk |
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MLP Risk |
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Mortgage Dollar Roll Risk |
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Municipal Obligations Risk |
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Municipal Securities Risk |
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Net Asset Value Risk |
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New Fund Rsik |
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Non-Diversified Risk |
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Non-Money Market Fund Risk |
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Options Risk |
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Passive Management Risk |
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Preferred Stock Risk |
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Prepayment Risk |
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Privately Placed Securities Risk |
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REITs Risk |
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Repurchase Agreement Risk |
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Restricted Securities Risk |
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Risk Associated with the Fund Holding Cash, Money Market Instruments and Other Short-Term Investments |
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Sampling Risk |
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Securities Lending Risk |
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BetaBuilders 1–5 Year U.S. Aggregate Bond ETF |
Core Plus Bond ETF |
Corporate Bond Research Enhanced ETF |
High Yield Research Enhanced ETF |
Income ETF |
International Bond Opportunities ETF |
Municipal ETF |
Short Duration Core Plus ETF |
U.S. Aggregate Bond ETF |
Ultra-Short Income ETF |
Ultra-Short Municipal Income ETF |
USD Emerging Markets Sovereign Bond ETF |
Smaller Company Risk |
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Sovereign Debt Risk |
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Structured Investment Risk |
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Taxability Risk |
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Transactions and Liquidity Risk |
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Volcker Rule Risk |
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When-Issued, Delayed Settlement and Forward Commit- ment Transactions Risk |
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Zero-Coupon, Pay-In-Kind and Deferred Payment Securities Risk |
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WHAT IS A DERIVATIVE? |
Derivatives are securities or contracts (for example, futures and options) that derive their value from the performance of underlying assets or securities. |
WHAT IS A CASH EQUIVALENT? |
Cash equivalents are highly liquid, high-quality instruments with maturities of three months or less on the date they are purchased. They include securities issued by the U.S. government, its agencies and instrumentalities, repurchase agreements, certificates of deposit, bankers’ acceptances, commercial paper, variable rate master demand notes, money market mutual funds, and bank deposit accounts. |
JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF |
0.05% |
JPMorgan Core Plus Bond ETF |
0.40 |
JPMorgan Corporate Bond Research Enhanced ETF |
0.14 |
JPMorgan High Yield Research Enhanced ETF |
0.24 |
JPMorgan Income ETF |
0.40 |
JPMorgan International Bond Opportunities ETF |
0.50 |
JPMorgan Municipal ETF |
0.18 |
JPMorgan Short Duration Core Plus ETF |
0.33 |
JPMorgan U.S. Aggregate Bond ETF |
0.07 |
JPMorgan Ultra-Short Income ETF |
0.18 |
JPMorgan Ultra-Short Municipal Income ETF |
0.18 |
JPMorgan USD Emerging Markets Sovereign Bond ETF |
0.39 |
FUND NAME |
FUND CODE |
BetaBuilders 1–5 Year U.S. Aggregate Bond ETF |
1 |
Core Plus Bond ETF |
2 |
Corporate Bond Research Enhanced ETF |
3 |
High Yield Research Enhanced ETF |
4 |
Income ETF |
5 |
International Bond Opportunities ETF |
6 |
Municipal ETF |
7 |
Short Duration Core Plus ETF |
8 |
U.S. Aggregate Bond ETF |
9 |
Ultra-Short Income ETF |
10 |
Ultra-Short Municipal Income ETF |
11 |
USD Emerging Markets Sovereign Bond ETF |
12 |
INSTRUMENT |
FUND CODE |
RISK TYPE |
Adjustable Rate Mortgage Loans (ARMs): Loans in a mortgage pool which provide for a fixed initial mortgage interest rate for a specified period of time, after which the rate may be subject to periodic adjustments. |
1-2, 5-6, 8-10 |
Credit Interest Rate Liquidity Market Political Prepayment Valuation |
Asset-Backed Securities: Securities secured by company receivables, home equity loans, truck and auto loans, leases, and credit card receivables or other securities backed by other types of receivables or other assets and pools of loans, such as collateralized loan obligations. |
1-2, 5-11 |
Credit Interest Rate Liquidity Market Political Prepayment Valuation |
Auction Rate Securities: Auction rate municipal securities and auction rate preferred securities issued by closed-end investment companies. |
5-8, 11 |
Credit Interest Rate Liquidity Market |
Bank Obligations: Bankers’ acceptances, certificates of deposit and time deposits. Bankers’ acceptances are bills of exchange or time drafts drawn on and accepted by a commercial bank. Maturities are generally six months or less. Certificates of deposit are negotiable certificates issued by a bank for a specified period of time and earning a specified return. Time deposits are non-negotiable receipts issued by a bank in exchange for the deposit of funds. |
2, 4-8, 10-11 |
Credit Currency Interest Rate Liquidity Market Political |
Borrowings: A Fund may borrow for temporary purposes and/or for investment purposes. Such a practice will result in leveraging of the Fund’s assets and may cause the Fund to liquidate portfolio positions when it would not be advantageous to do so. A Fund must maintain continuous asset coverage of 300% of the amount borrowed, with the exception for borrowings not in excess of 5% of the Fund’s total assets made for temporary administrative purposes. |
4-7, 10-11 |
Credit Interest Rate Market |
INSTRUMENT |
FUND CODE |
RISK TYPE |
Brady Bonds: Securities created through the exchange of existing commercial bank loans to public and private entities in certain emerging markets for new bonds in connection with debt restructurings. |
1-2, 5-6, 8-9, 12 |
Credit Currency Foreign Investment Interest Rate Market Political |
Call and Put Options: A call option gives the buyer the right to buy, and obligates the seller of the option to sell a security at a specified price at a future date. A put option gives the buyer the right to sell, and obligates the seller of the option to buy a security at a specified price at a future date. A Fund will sell only covered call and secured put options. |
2, 5-8, 11 |
Credit Leverage Liquidity Management Market |
Commercial Paper: Secured and unsecured short-term promissory notes issued by corporations and other entities. Maturities generally vary from a few days to nine months. |
1-2, 4-11 |
Credit Currency Interest Rate Liquidity Market Political Valuation |
Commodity-Related Pooled Investment Vehicles: Ownership interests in grantor trusts and other pooled investment vehicles, including commodity pools, that hold tangible assets such as gold, silver and other commodities or invest in commodities futures. Grantor trusts are typically traded on an exchange. |
5-6 |
Credit Foreign Investment Leverage Liquidity Market Valuation |
Common Stock: Shares of ownership of a company. |
2, 4-6, 8 |
Market |
Common Stock Warrants and Rights: Securities, typically issued with preferred stock or bonds, that give the holder the right to buy a proportionate amount of common stock at a specified price. |
2, 4-5 |
Credit Market |
Contract for Differences: An arrangement made in a futures contract whereby differences in settlement are made through cash payments, rather than the delivery of physical goods or securities. |
10 |
Credit Leverage Liquidity Management Market |
Convertible Securities: Bonds or preferred stock that can convert to common stock including contingent convertible securities. |
2, 4-6, 8 |
Credit Currency Interest Rate Liquidity Market Political Valuation |
Corporate Debt Securities: May include bonds and other debt securities of domestic and foreign issuers, including obligations of industrial, utility, banking and other corporate issuers. |
1-12 |
Credit Currency Interest Rate Liquidity Market Political Valuation |
INSTRUMENT |
FUND CODE |
RISK TYPE |
Credit Default Swaps (CDSs): A swap agreement between two parties pursuant to which one party pays the other a fixed periodic coupon for the specified life of the agreement. The other party makes no payment unless a credit event, relating to a predetermined reference asset, occurs. If such an event occurs, the party will then make a payment to the first party, and the swap will terminate. |
1-2, 5-6, 8-9, 12 |
Credit Currency Interest Rate Leverage Liquidity Management Market Political Valuation |
Custodial Receipts: A Fund may acquire securities in the form of custodial receipts that evidence ownership of future interest payments, principal payments or both on certain U.S. Treasury notes or bonds in connection with programs sponsored by banks and brokerage firms. These are not considered to be U.S. government securities. These notes and bonds are held in custody by a bank on behalf of the owners of the receipts. |
2, 5-6 |
Credit Liquidity Market |
Demand Features: Securities that are subject to puts and standby commitments to purchase the securities at a fixed price (usually with accrued interest) within a fixed period of time following demand by a Fund. |
2, 5-8, 11 |
Liquidity Management Market |
Emerging Market Securities: Securities issued by issuers or governments in countries with emerging economies or securities markets which may be undergoing significant evolution and rapid development. |
1-3, 5-6, 8-9, 12 |
Foreign Investment Credit Currency Interest Rate Market Liquidity Political |
Exchange-Traded Funds (ETFs): Ownership interest in unit investment trusts, depositary receipts, and other pooled investment vehicles that hold a portfolio of securities or stocks designed to track the price performance and dividend yield of a particular broad-based, sector or international index. ETFs include a wide range of investments. |
1-2, 5-9, 11-12 |
Investment Company Market |
Foreign Currency Transactions: Strategies used to hedge against currency risks, for other risk management purposes or to increase income or gain to a Fund. These strategies may consist of use of any of the following: options on currencies, currency futures, options on such futures, forward foreign currency transactions (including non-deliverable forwards (“NDFs”)), forward rate agreements and currency swaps, caps and floors. |
2, 5-6, 8 |
Credit Foreign Investment Leverage Liquidity Management Market Prepayment |
Foreign Investments: Equity and debt securities (e.g., bonds and commercial paper) of foreign entities and obligations of foreign branches of U.S. banks and foreign banks. Foreign securities may also include American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs), European Depositary Receipts (EDRs) and American Depositary Securities (ADSs). |
1-6, 8-10, 12 |
Foreign Investment Interest Rate Liquidity Market Political Prepayment |
High Yield/High Risk Securities/Junk Bonds: Securities that are generally rated below investment grade by the primary rating agencies or are unrated but are deemed by a Fund’s adviser to be of comparable quality. |
2-8, 10-12 |
Credit Currency High Yield Securities Interest Rate Liquidity Market Political Portfolio Quality Valuation |
INSTRUMENT |
FUND CODE |
RISK TYPE |
Inflation-Linked Debt Securities: Includes fixed and floating rate debt securities of varying maturities issued by the U.S. government as well as securities issued by other entities such as corporations, foreign governments and foreign issuers. |
2, 5-8, 10-11 |
Credit Currency Interest Rate Political |
Initial Public Offerings (IPOs): A transaction in which a previously private company makes its first sale of stock to the public. |
5-6 |
Market |
Inverse Floating Rate Instruments: Leveraged variable debt instruments with interest rates that reset in the opposite direction from the market rate of interest to which the inverse floater is indexed. |
2, 5-8, 11 |
Credit Leverage Market |
Investment Company Securities: Shares of other investment companies, including money market funds for which the adviser and/or its affiliates serve as investment adviser or administrator. The adviser will waive certain fees when investing in funds for which it serves as investment adviser, to the extent required by law or by contract. |
1-12 |
Investment Company Market |
Loan Assignments and Participations: Assignments of, or participations in, all or a portion of loans to corporations or to governments, including governments of less developed countries. |
2, 5-8, 12 |
Credit Currency Extension Foreign Investment Interest Rate Liquidity Loans Market Political Prepayment Structured Investments |
Master Limited Partnerships (MLPs): Limited partnerships that are publicly traded on a securities exchange. |
5-6, 8 |
Market |
Mortgages (Directly Held): Debt instruments secured by real property. |
2, 5-6, 8 |
Credit Environmental Extension Interest Rate Liquidity Market Natural Event Political Prepayment Valuation |
Mortgage-Backed Securities: Debt obligations secured by real estate loans and pools of loans such as collateralized mortgage obligations (CMOs), commercial mortgage-backed securities (CMBSs) and other asset-backed structures. |
1-2, 5-11 |
Credit Currency Extension Interest Rate Leverage Liquidity Market Political Prepayment Tax Valuation |
INSTRUMENT |
FUND CODE |
RISK TYPE |
Mortgage Dollar Rolls1: A transaction in which a Fund sells securities for delivery in a current month and simultaneously contracts with the same party to repurchase similar but not identical securities on a specified future date. |
2, 5-6, 8, 10 |
Currency Extension Interest Rate Leverage Liquidity Market Political Prepayment |
Municipal Securities: Securities issued by a state or political subdivision to obtain funds for various public purposes. Municipal securities include, among others, private activity bonds and industrial development bonds, as well as general obligation notes, tax anticipation notes, bond anticipation notes, revenue anticipation notes, other short-term tax-exempt obligations, municipal leases, obligations of municipal housing authorities and single family revenue bonds. |
1-2, 5-11 |
Credit Interest Rate Market Natural Event Political Prepayment Tax |
New Financial Products: New options and futures contracts and other financial products continue to be developed and a Fund may invest in such options, contracts and products. |
2, 5-8, 11 |
Credit Liquidity Management Market |
Obligations of Supranational Agencies: Obligations which are chartered to promote economic development and are supported by various governments and governmental agencies. |
1-2, 5-6, 8-10 |
Credit Foreign Investment Liquidity Political Valuation |
Options and Futures Transactions: A Fund may purchase and sell (a) exchange traded and over the counter put and call options on securities, indexes of securities and futures contracts on securities, indexes of securities, interest rate futures contracts and interest rate swaps and (b) futures contracts on securities and indexes of securities. |
1-3, 5-12 |
Credit Interest Rate Leverage Liquidity Management Market |
Preferred Stock: A class of stock that generally pays a dividend at a specified rate and has preference over common stock in the payment of dividends and in liquidation. |
2, 4-6, 8 |
Interest Rate Market |
Private Placements, Restricted Securities and Other Unregistered Securities: Securities not registered under the Securities Act of 1933, such as privately placed commercial paper and Rule 144A securities. |
1-12 |
Liquidity Market Valuation |
Real Estate Investment Trusts (REITs): Pooled investment vehicles which invest primarily in income producing real estate or real estate related loans or interest. |
2, 4-5, 8 |
Credit Interest Rate Liquidity Management Market Political Prepayment Tax Valuation |
Repurchase Agreements: The purchase of a security and the simultaneous commitment to return the security to the seller at an agreed upon price on an agreed upon date. This is treated as a loan. |
2, 5-6, 8, 10-11 |
Credit Liquidity Market |
Reverse Repurchase Agreements1: The sale of a security and the simultaneous commitment to buy the security back at an agreed upon price on an agreed upon date. This is treated as a borrowing by a Fund. |
2, 5, 8, 11 |
Credit Leverage Market |
INSTRUMENT |
FUND CODE |
RISK TYPE |
Securities Issued in Connection with Reorganization and Corporate Restructuring: In connection with reorganizing or restructuring of an issuer, an issuer may issue common stock or other securities to holders of its debt securities. |
1-2, 4-6, 8-9, 12 |
Market |
Securities Lending: The lending of up to 33 1∕3% of a Fund’s total assets. In return, a Fund will receive cash, other securities, and/or letters of credit as collateral. |
1-3, 5, 7-9, 11 |
Credit Leverage Market |
Short-Term Funding Agreements: Agreements issued by banks and highly rated U.S. insurance companies such as Guaranteed Investment Contracts (GICs) and Bank Investment Contracts (BICs). |
2, 5-8, 11 |
Credit Liquidity Market |
Short Selling: A Fund sells a security it does not own in anticipation of a decline in the market value of the security. To complete the transaction, a Fund must borrow the security to make delivery to the buyer. A Fund is obligated to replace the security borrowed by purchasing it subsequently at the market price at the time of replacement. |
6 |
Credit Liquidity Market |
Sovereign Obligations: Investments in debt obligations issued or guaranteed by a foreign sovereign government or its agencies, authorities or political subdivisions. |
1-2, 5-6, 8-10, 12 |
Credit Foreign Investment Interest Rate Liquidity Political Valuation |
Stripped Mortgage-Backed Securities: Derivative multi-class mortgage securities which are usually structured with two classes of shares that receive different proportions of the interest and principal from a pool of mortgage assets. These include Interest-Only (IO) and Principal-Only (PO) securities issued outside a Real Estate Mortgage Investment Conduit (REMIC) or CMO structure. |
2, 5-6, 8, 10 |
Credit Interest Rate Liquidity Market Political Prepayment Valuation |
Structured Investments: A security having a return tied to an underlying index or other security or asset class. Structured investments generally are individually negotiated agreements and may be traded over-the-counter. Structured investments are organized and operated to restructure the investment characteristics of the underlying security. |
1-2, 5-9, 11-12 |
Credit Foreign Investment Liquidity Management Market Valuation |
Swaps and Related Swap Products: Swaps involve an exchange of obligations by two parties. Caps and floors entitle a purchaser to a principal amount from the seller of the cap or floor to the extent that a specified index exceeds or falls below a predetermined interest rate or amount. A Fund may enter into these transactions to manage its exposure to changing interest rates and other factors. |
2, 5-8, 11 |
Credit Currency Interest Rate Leverage Liquidity Management Market Political Valuation |
Synthetic Variable Rate Instruments: Instruments that generally involve the deposit of a long-term tax exempt bond in a custody or trust arrangement and the creation of a mechanism to adjust the long-term interest rate on the bond to a variable short-term rate and a right (subject to certain conditions) on the part of the purchaser to tender it periodically to a third party at par. |
2, 5-6, 8, 11 |
Credit Liquidity Market |
Temporary Defensive Positions: To respond to unusual circumstances a Fund may invest in cash and cash equivalents for temporary defensive purposes. |
2, 4-8, 10-11 |
Credit Interest Rate Liquidity Market |
INSTRUMENT |
FUND CODE |
RISK TYPE |
Treasury Receipts: A Fund may purchase interests in separately traded interest and principal component parts of U.S. Treasury obligations that are issued by banks or brokerage firms and that are created by depositing U.S. Treasury notes and U.S. Treasury bonds into a special account at a custodian bank. Receipts include Treasury Receipts (TRs), Treasury Investment Growth Receipts (TIGRs), and Certificates of Accrual on Treasury Securities (CATS). |
2, 4-8, 10-11 |
Market |
Trust Preferred: Securities with characteristics of both subordinated debt and preferred stock. Trust preferreds are generally long term securities that make periodic fixed or variable interest payments. |
2, 4-6, 8 |
Credit Currency Interest Rate Liquidity Market Political Valuation |
U.S. Government Agency Securities: Securities issued or guaranteed by agencies and instrumentalities of the U.S. government. These include all types of securities issued by Ginnie Mae, Fannie Mae and Freddie Mac, including funding notes, subordinated benchmark notes, CMOs and REMICs. |
1-3, 5-11 |
Credit Government Securities Interest Rate Market |
U.S. Government Obligations: May include direct obligations of the U.S. Treasury, including Treasury bills, notes and bonds, all of which are backed as to principal and interest payments by the full faith and credit of the United States, and separately traded principal and interest component parts of such obligations that are transferable through the Federal book-entry system known as Separate Trading of Registered Interest and Principal of Securities (STRIPS) and Coupons Under Book Entry Safekeeping (CUBES). |
1-11 |
Interest Rate Market |
Variable and Floating Rate Instruments: Obligations with interest rates which are reset daily, weekly, quarterly or some other frequency and which may be payable to a Fund on demand or at the expiration of a specified term. |
2, 4-11 |
Credit Liquidity Market Valuation |
When-Issued Securities, Delayed Delivery Securities and Forward Commitments: Purchase or contract to purchase securities at a fixed price for delivery at a future date. |
1-2, 4-11 |
Credit Leverage Liquidity Market Valuation |
Zero-Coupon, Pay-in-Kind and Deferred Payment Securities: Zero-coupon securities are securities that are sold at a discount to par value and on which interest payments are not made during the life of the security. Pay-in-kind securities are securities that have interest payable by delivery of additional securities. Deferred payment securities are zero-coupon debt securities which convert on a specified date to interest bearing debt securities. |
1-2, 4-11 |
Credit Currency Interest Rate Liquidity Market Political Valuation Zero-Coupon Securities |
|
Per share operating performance | ||||||
|
|
Investment operations |
Distributions | ||||
|
Net asset value, beginning of period |
Net investment income (loss) (b) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
Net realized gain |
Total distributions |
JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF |
|
|
|
|
|
|
|
Year Ended February 28, 2022 (f) |
$51.87 |
$0.53 |
$(1.72) |
$(1.19) |
$(0.57) |
$(0.26) |
$(0.83) |
Year Ended February 28, 2021 (f) |
51.72 |
0.85 |
0.34 |
1.19 |
(0.83) |
(0.21) |
(1.04) |
March 12, 2019 (g) through February 29, 2020 (f) |
50.00 |
1.17 |
1.76 |
2.93 |
(1.21) |
— |
(1.21) |
JPMorgan Core Plus Bond ETF |
|
|
|
|
|
|
|
Year Ended February 28, 2022 |
54.31 |
1.09 |
(1.96) |
(0.87) |
(1.09) |
(0.11) |
(1.20) |
Year Ended February 28, 2021 |
54.17 |
0.97 |
0.70(i) |
1.67 |
(0.88) |
(0.65) |
(1.53) |
Year Ended February 29, 2020 |
50.36 |
1.45 |
4.13 |
5.58 |
(1.44) |
(0.33) |
(1.77) |
January 28, 2019 (g) through February 28, 2019 |
50.00 |
0.13 |
0.36 |
0.49 |
(0.13) |
— |
(0.13) |
JPMorgan Corporate Bond Research Enhanced ETF |
|
|
|
|
|
|
|
Year Ended February 28, 2022 |
55.33 |
1.38 |
(3.34) |
(1.96) |
(1.40) |
(0.49) |
(1.89) |
Year Ended February 28, 2021 |
56.27 |
1.58 |
(0.31) |
1.27 |
(1.46) |
(0.75) |
(2.21) |
Year Ended February 29, 2020 |
51.19 |
1.95 |
5.96 |
7.91 |
(1.93) |
(0.90) |
(2.83) |
December 12, 2018 (g) through February 28, 2019 |
50.00 |
0.44 |
1.19 |
1.63 |
(0.44) |
— |
(0.44) |
JPMorgan High Yield Research Enhanced ETF |
|
|
|
|
|
|
|
Year Ended February 28, 2022 |
51.64 |
1.97 |
(1.79) |
0.18 |
(2.21) |
— |
(2.21) |
Year Ended February 28, 2021 |
50.31 |
2.12 |
1.31(i) |
3.43 |
(2.07) |
(0.03) |
(2.10) |
Year Ended February 29, 2020 |
49.86 |
2.50 |
0.53 |
3.03 |
(2.58) |
— |
(2.58) |
Year Ended February 28, 2019 |
50.09 |
2.47 |
(0.23) |
2.24 |
(2.47) |
— |
(2.47) |
Year Ended February 28, 2018 |
50.96 |
2.44 |
(0.92) |
1.52 |
(2.39) |
— |
(2.39) |
JPMorgan Income ETF |
|
|
|
|
|
|
|
October 28, 2021 (g) through February 28, 2022 |
50.00 |
0.58 |
(1.24) |
(0.66) |
(0.45) |
— |
(0.45) |
|
|
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) | |
|
|
|
|
|
|
|
|
| |
$49.85 |
$49.87 |
(2.31)% |
(2.44)% |
$34,892,895 |
0.05% |
1.02% |
0.05% |
45% | |
51.87 |
51.96 |
2.32 |
2.55 |
59,654,406 |
0.05 |
1.62 |
0.05 |
40 | |
51.72 |
51.68 |
5.93 |
5.85 (h) |
37,495,084 |
0.05 |
2.38 |
0.05 |
56 | |
|
|
|
|
|
|
|
|
| |
52.24 |
52.37 |
(1.66) |
(1.73) |
276,853,932 |
0.40 |
2.02 |
0.40 |
81 | |
54.31 |
54.48 |
3.08 |
2.87 |
146,648,110 |
0.36 |
1.76 |
0.36 |
272 | |
54.17 |
54.44 |
11.24 |
11.52 |
54,168,824 |
0.38 |
2.76 |
0.69 (j) |
91 | |
50.36 |
50.48 |
0.97 |
1.21 (h) |
25,178,102 |
0.38 (k) |
2.96 |
5.38 (j)(k) |
— (l) | |
|
|
|
|
|
|
|
|
| |
51.48 |
51.56 |
(3.70) |
(3.83) |
51,478,693 |
0.14 |
2.51 |
0.14 |
36 | |
55.33 |
55.48 |
2.24 |
2.09 |
55,332,638 |
0.14 |
2.81 |
0.14 |
41 | |
56.27 |
56.50 |
15.74 |
15.95 |
35,170,394 |
0.14 |
3.58 |
0.65 (j) |
67 | |
51.19 |
51.30 |
3.26 |
3.48 (h) |
25,595,493 |
0.14 (k) |
3.98 |
2.13 (j)(k) |
12 | |
|
|
|
|
|
|
|
|
| |
49.61 |
49.65 |
0.26 |
0.40 |
1,453,558,764 |
0.24 |
3.83 |
0.24 |
46 | |
51.64 |
51.61 |
7.16 |
6.43 |
1,559,634,055 |
0.23 |
4.18 |
0.23 |
50 | |
50.31 |
50.62 |
6.15 |
6.88 |
171,037,324 |
0.32 |
4.90 |
0.44 (j) |
128 | |
49.86 |
49.82 |
4.66 |
4.00 |
154,570,385 |
0.40 |
5.01 |
0.57 (j) |
23 | |
50.09 |
50.36 |
3.00 |
3.12 |
105,191,308 |
0.40 |
4.78 |
0.98 (j) |
23 | |
|
|
|
|
|
|
|
|
| |
48.89 |
49.09 |
(1.34) |
(0.94)(h) |
137,861,001 |
0.39 |
3.47 |
0.39 |
13 |
|
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 International Bond Opportunities ETF |
|
|
|
|
|
|
|
Year Ended February 28, 2022 |
$51.04 |
$1.16 |
$(1.92) |
$(0.76) |
$(1.32) |
$— |
$(1.32) |
Year Ended February 28, 2021 |
49.98 |
1.45 |
1.00(i) |
2.45 |
(1.39) |
— |
(1.39) |
Year Ended February 29, 2020 |
48.75 |
1.71 |
1.86 |
3.57 |
(2.34) |
— |
(2.34) |
Year Ended February 28, 2019 |
50.54 |
1.94 |
(0.97) |
0.97 |
(2.56) |
(0.20) |
(2.76) |
April 5, 2017 (g) through February 28, 2018 |
50.00 |
1.83 |
0.05(i) |
1.88 |
(1.34) |
— |
(1.34) |
JPMorgan Municipal ETF |
|
|
|
|
|
|
|
Year Ended February 28, 2022 |
54.37 |
0.85 |
(1.18) |
(0.33) |
(0.85) |
(0.22) |
(1.07) |
Year Ended February 28, 2021 |
55.15 |
1.00 |
(0.71) |
0.29 |
(0.94) |
(0.13) |
(1.07) |
Year Ended February 29, 2020 |
51.92 |
1.24 |
3.91 |
5.15 |
(1.22) |
(0.70) |
(1.92) |
October 29, 2018 (g) through February 28, 2019 |
50.00 |
0.46 |
1.90 |
2.36 |
(0.44) |
— |
(0.44) |
JPMorgan Short Duration Core Plus ETF |
|
|
|
|
|
|
|
March 1, 2021 (g) through February 28, 2022 |
50.00 |
0.62 |
(1.42) |
(0.80) |
(0.59) |
(0.01) |
(0.60) |
JPMorgan U.S. Aggregate Bond ETF |
|
|
|
|
|
|
|
Year Ended February 28, 2022 (f) |
54.39 |
0.71 |
(2.19) |
(1.48) |
(0.72) |
(0.06) |
(0.78) |
Year Ended February 28, 2021 (f) |
54.86 |
0.89 |
(0.32) |
0.57 |
(0.85) |
(0.19) |
(1.04) |
Year Ended February 29, 2020 (f) |
50.63 |
1.39 |
4.35 |
5.74 |
(1.44) |
(0.07) |
(1.51) |
December 12, 2018 (g) through February 28, 2019 (f) |
50.00 |
0.36 |
0.58 |
0.94 |
(0.31) |
— |
(0.31) |
|
|
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) | |
|
|
|
|
|
|
|
|
| |
$48.96 |
$48.98 |
(1.56)% |
(2.10)% |
$323,118,565 |
0.50% |
2.28% |
0.50% |
52% | |
51.04 |
51.34 |
5.02 |
5.95 |
250,097,283 |
0.50 |
2.90 |
0.50 |
136 | |
49.98 |
49.83 |
7.39 |
6.89 |
169,928,839 |
0.53 |
3.40 |
0.69 (j) |
88 | |
48.75 |
48.83 |
2.09 |
2.13 |
180,357,231 |
0.54 |
3.92 |
0.82 (j) |
73 | |
50.54 |
50.60 |
3.76 |
3.88 (h) |
151,634,232 |
0.53 (k) |
3.98 |
1.10 (j)(k) |
52 | |
|
|
|
|
|
|
|
|
| |
52.97 |
53.01 |
(0.66) |
(0.55) |
100,642,548 |
0.18 |
1.56 |
0.18 |
48 | |
54.37 |
54.35 |
0.54 |
0.67 |
76,120,305 |
0.23 |
1.84 |
0.23 |
56 | |
55.15 |
55.06 |
10.09 |
9.71 |
52,390,882 |
0.23 |
2.31 |
0.67 (j) |
51 | |
51.92 |
52.01 |
4.74 |
4.92 (h) |
31,153,558 |
0.23 (k) |
2.65 |
1.06 (j)(k) |
15 | |
|
|
|
|
|
|
|
|
| |
48.60 |
48.61 |
(1.63) |
(1.61)(h) |
192,461,679 |
0.32 |
1.26 |
0.32 |
175 | |
|
|
|
|
|
|
|
|
| |
52.13 |
52.14 |
(2.76) |
(2.69) |
1,024,267,076 |
0.07 |
1.32 |
0.07 |
78 | |
54.39 |
54.36 |
1.04 |
0.85 |
826,789,330 |
0.07 |
1.60 |
0.07 |
64 | |
54.86 |
54.92 |
11.46 |
11.49 |
543,070,946 |
0.07 |
2.61 |
0.20 (j) |
57 | |
50.63 |
50.68 |
1.90 |
1.98 (h) |
98,730,082 |
0.07 (k) |
3.26 |
1.14 (j)(k) |
53 |
|
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 Ultra-Short Income ETF |
|
|
|
|
|
|
|
Year Ended February 28, 2022 |
$50.78 |
$0.28 |
$(0.35) |
$(0.07) |
$(0.32) |
$(0.04) |
$(0.36) |
Year Ended February 28, 2021 |
50.51 |
0.58 |
0.28 |
0.86 |
(0.59) |
—(k) |
(0.59) |
Year Ended February 29, 2020 |
50.20 |
1.28 |
0.32 |
1.60 |
(1.29) |
— |
(1.29) |
Year Ended February 28, 2019 |
50.01 |
1.37 |
(0.04)(h) |
1.33 |
(1.14) |
— |
(1.14) |
May 17, 2017 (f) through February 28, 2018 |
50.00 |
0.70 |
(0.08) |
0.62 |
(0.61) |
— |
(0.61) |
JPMorgan Ultra-Short Municipal Income ETF |
|
|
|
|
|
|
|
Year Ended February 28, 2022 |
51.01 |
0.13 |
(0.25) |
(0.12) |
(0.13) |
— |
(0.13) |
Year Ended February 28, 2021 |
50.53 |
0.32 |
0.52 |
0.84 |
(0.36) |
— |
(0.36) |
Year Ended February 29, 2020 |
50.26 |
0.78 |
0.26 |
1.04 |
(0.77) |
— |
(0.77) |
October 16, 2018 (f) through February 28, 2019 |
50.00 |
0.35 |
0.23 |
0.58 |
(0.32) |
— |
(0.32) |
JPMorgan USD Emerging Markets Sovereign Bond ETF |
|
|
|
|
|
|
|
Year Ended February 28, 2022 |
49.27 |
2.03 |
(5.81) |
(3.78) |
(2.07) |
— |
(2.07) |
Year Ended February 28, 2021 |
50.95 |
2.17 |
(1.83) |
0.34 |
(2.02) |
— |
(2.02) |
Year Ended February 29, 2020 |
47.52 |
2.32 |
3.40 |
5.72 |
(2.29) |
— |
(2.29) |
Year Ended February 28, 2019 |
48.83 |
2.31 |
(1.30) |
1.01 |
(2.32) |
— |
(2.32) |
January 29, 2018 (f) through February 28, 2018 |
50.00 |
0.19 |
(1.21) |
(1.02) |
(0.15) |
— |
(0.15) |
|
|
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) | |
|
|
|
|
|
|
|
|
| |
$50.35 |
$50.37 |
(0.14)% |
(0.12)% |
$18,686,174,480 |
0.18% |
0.56% |
0.18% |
70% | |
50.78 |
50.79 |
1.72 |
1.67 |
16,144,037,713 |
0.17 |
1.14 |
0.17 |
94 | |
50.51 |
50.54 |
3.22 |
3.22 |
11,591,489,504 |
0.18 |
2.53 |
0.22 (i) |
46 | |
50.20 |
50.23 |
2.68 |
2.66 |
5,703,062,275 |
0.17 |
2.74 |
0.28 (i) |
43 | |
50.01 |
50.05 |
1.25 |
1.33 (g) |
200,051,266 |
0.16 (j) |
1.77 |
0.55 (i)(j) |
25 | |
|
|
|
|
|
|
|
|
| |
50.76 |
50.75 |
(0.23) |
(0.29) |
3,116,619,866 |
0.17 |
0.26 |
0.17 |
50 | |
51.01 |
51.03 |
1.66 |
1.64 |
1,410,311,158 |
0.16 |
0.63 |
0.16 |
67 | |
50.53 |
50.56 |
2.09 |
2.09 |
207,185,582 |
0.18 |
1.55 |
0.34 (i) |
153 | |
50.26 |
50.29 |
1.16 |
1.22 (g) |
57,799,591 |
0.17 (j) |
1.88 |
0.79 (i)(j) |
61 | |
|
|
|
|
|
|
|
|
| |
43.42 |
44.06 |
(8.06) |
(6.78) |
69,475,995 |
0.39 |
4.17 |
0.39 |
38 | |
49.27 |
49.30 |
0.85 |
0.50 |
83,750,663 |
0.39 |
4.50 |
0.39 |
59 | |
50.95 |
51.15 |
12.25 |
12.44 |
91,713,454 |
0.39 |
4.64 |
0.58 (i) |
53 | |
47.52 |
47.62 |
2.29 |
2.23 |
61,776,747 |
0.39 |
4.96 |
0.87 (i) |
28 | |
48.83 |
48.95 |
(2.03) |
(1.79)(g) |
53,713,929 |
0.35 (j) |
4.79 |
2.74 (i)(j) |
2 |
JPMorgan Inflation Managed Bond ETF |
Ticker: JCPI |
Listing Exchange: Cboe BZX Exchange, Inc. |
| |
Management Fees |
|
Other Expenses1 |
|
Acquired Fund Fees and Expenses1 |
|
Total Annual Fund Operating Expenses |
|
Fee Waivers and/or Expense Reimbursements2 |
- |
Total Annual Fund Operating Expenses after Fee Waiv- ers and/or Expense Reimbursements2 |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
|
Past 1 Year |
Past 5 Years |
Past 10 Years |
CLASS R6 SHARES |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
BLOOMBERG 1-10 YEAR U.S. TIPS INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
|
|
|
BLOOMBERG U.S. INTERMEDIATE AGGREGATE INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Scott E. Grimshaw |
2022 |
Executive Director |
Steven Lear |
2022 |
Managing Director |
David Rooney |
2022 |
Executive Director |
NON-FUNDAMENTAL INVESTMENT OBJECTIVE |
An investment objective is fundamental if it cannot be changed without the consent of a majority of the outstanding Shares of the Fund. The Fund’s investment objective is not fundamental and may be changed without the consent of a majority of the outstanding Shares of the Fund. |
WHAT IS SECURITIES LENDING? |
Securities lending involves the loan of securities to borrowers in exchange for cash collateral which the Fund may reinvest. During the term of the loan, the Fund is entitled to receive amounts equivalent to distributions paid on the loaned securities as well as the return on the cash collateral investments. Upon termination of the loan, the Fund is required to return the cash collateral to the borrower plus an agreed upon rebate. Securities lending is not a principal strategy of the Fund. |
|
Inflation Managed Bond ETF |
Asset-Backed, Mortgage-Related and Mortgage-Backed Securities Risk |
• |
Authorized Participant Concentration Risk |
• |
Cash Transactions Risk |
• |
|
Inflation Managed Bond ETF |
CFTC Regulation Risk |
○ |
CPI-U Strategy Risk |
• |
Credit Risk |
• |
Currency Risk |
• |
Cyber Security Risk |
○ |
Derivatives Risk |
• |
Exchange-Traded Fund (ETF) and Investment Company Risk |
○ |
Foreign Issuer Risk |
• |
Foreign Securities and Emerging Markets Risk |
• |
General Market Risk |
• |
Geographic Focus Risk |
• |
Government Securities Risk |
• |
High Portfolio Turnover Risk |
• |
High Yield Securities Risk |
• |
Industry and Sector Focus Risk |
• |
Inflation-Linked and Inflation-Protected Security Risk |
• |
Interest Rate Risk |
• |
Inverse Floater Risk |
○ |
Loan Risk |
• |
Market Trading Risk |
• |
Prepayment Risk |
• |
Securities Lending Risk |
○ |
Smaller Company Risk |
○ |
Strategy Risk |
• |
Transactions and Liquidity Risk |
• |
Volcker Rule Risk |
○ |
WHAT IS A DERIVATIVE? |
Derivatives are securities or contracts (for example, futures and options) that derive their value from the performance of underlying assets or securities. |
WHAT IS A CASH EQUIVALENT? |
Cash equivalents are highly liquid, high-quality instruments with maturities of three months or less on the date they are purchased. They include securities issued by the U.S. government, its agencies and instrumentalities, repurchase agreements, certificates of deposit, bankers’ acceptances, commercial paper, money market mutual funds, and bank deposit accounts. |
INSTRUMENT |
RISK TYPE |
Adjustable Rate Mortgage Loans (ARMs): Loans in a mortgage pool which provide for a fixed initial mortgage interest rate for a specified period of time, after which the rate may be subject to periodic adjustments. |
Credit Interest Rate Liquidity Market Political Prepayment Valuation |
Asset-Backed Securities: Securities secured by company receivables, home equity loans, truck and auto loans, leases and credit card receivables or other securities backed by other types of receivables or other assets. |
Credit Interest Rate Liquidity Market Political Prepayment Valuation |
Bank Obligations: Bankers’ acceptances, certificates of deposit and time deposits. Bankers’ acceptances are bills of exchange or time drafts drawn on and accepted by a commercial bank. Maturities are generally six months or less. Certificates of deposit are negotiable certificates issued by a bank for a specified period of time and earning a specified return. Time deposits are non- negotiable receipts issued by a bank in exchange for the deposit of funds |
Credit Currency Interest Rate Liquidity Market Political |
Borrowings: The Fund may borrow for temporary purposes and/or for investment purposes. Such a practice will result in leveraging of the Fund’s assets and may cause the Fund to liquidate portfolio positions when it would not be advantageous to do so. The Fund must maintain continuous asset coverage of 300% of the amount borrowed, with the exception for borrowings not in excess of 5% of the Fund’s total assets made for temporary administrative purposes. |
Credit Interest Rate Market |
Call and Put Options: A call option gives the buyer the right to buy, and obligates the seller of the option to sell a security at a specified price at a future date. A put option gives the buyer the right to sell, and obligates the seller of the option to buy a security at a specified price at a future date. The Fund will sell only covered call and secured put options. |
Credit Leverage Liquidity Management Market |
Commercial Paper: Secured and unsecured short-term promissory notes issued by corporations and other entities. Maturities generally vary from a few days to nine months. |
Credit Currency Interest Rate Liquidity Market Political Valuation |
Convertible Securities: Bonds or preferred stock that can convert to common stock including contingent convertible securities. |
Credit Currency Foreign Investments Interest Rate Liquidity Market Political Valuation |
INSTRUMENT |
RISK TYPE |
Corporate Debt Securities: May include bonds and other debt securities of domestic and foreign issuers, including obligations of industrial, utility, banking and other corporate issuers. |
Credit Currency Interest Rate Liquidity Market Political Valuation |
Credit Default Swaps (CDSs): A swap agreement between two parties pursuant to which one party pays the other a fixed periodic coupon for the specified life of the agreement. The other party makes no payment unless a credit event, relating to a predetermined reference asset, occurs. If such an event occurs, the party will then make a payment to the first party, and the swap will terminate. |
Credit Currency Interest Rate Leverage Liquidity Management Market Political Valuation |
Custodial Receipts: The Fund may acquire securities in the form of custodial receipts that evidence ownership of future interest payments, principal payments or both on certain U.S. Treasury notes or bonds in connection with programs sponsored by banks and brokerage firms. These are not considered to be U.S. government securities. These notes and bonds are held in custody by a bank on behalf of the owners of the receipts. |
Foreign Investment Credit Currency Interest Rate Market Liquidity Political |
Demand Features: Securities that are subject to puts and standby commitments to purchase the securities at a fixed price (usually with accrued interest) within a fixed period of time following demand by the Fund. |
Liquidity Management Market |
Emerging Market Securities: Securities issued by issuers or governments in countries with emerging economies or securities markets which may be undergoing significant evolution and rapid development. |
Foreign Investment |
Exchange-Traded Funds (ETFs): Ownership interest in unit investment trusts, depositary receipts, and other pooled investment vehicles that hold a portfolio of securities or stocks designed to track the price performance and dividend yield of a particular broad-based, sector or international index. ETFs include a wide range of investments. |
Investment Company Market |
Foreign Investments: Equity and debt securities (e.g., bonds and commercial paper) of foreign entities and obligations of foreign branches of U.S. banks and foreign banks. Foreign securities may also include American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs), European Depositary Receipts (EDRs) and American Depositary Securities (ADSs). |
Foreign Investment Liquidity Market Political Prepayment |
High Yield/High Risk Securities/Junk Bonds: Securities that are generally rated below investment grade by the primary rating agencies or are unrated but are deemed by the Fund’s adviser to be of comparable quality. |
Credit Currency High Yield Securities Interest Rate Liquidity Market Political Portfolio Quality Valuation |
Inflation-Linked Debt Securities: Includes fixed and floating rate debt securities of varying maturities issued by the U.S. government as well as securities issued by other entities such as corporations, foreign governments and foreign issuers. |
Credit Currency Interest Rate Political |
INSTRUMENT |
RISK TYPE |
Inverse Floating Rate Instruments: Leveraged variable debt instruments with interest rates that reset in the opposite direction from the market rate of interest to which the inverse floater is indexed. |
Credit Leverage Market |
Investment Company Securities: Shares of other investment companies, including money market funds for which the adviser and/or its affiliates serve as investment adviser or administrator. The adviser will waive certain fees when investing in funds for which it serves as investment adviser, to the extent required by law or by contract. |
Investment Company Market |
Loan Assignments and Participations: Assignments of, or participations in, all or a portion of loans to corporations or to governments, including governments of less developed countries. |
Credit Currency Extension Foreign Investment Interest Rate Liquidity Market Political Prepayment |
Mortgages (Directly Held): Debt instruments secured by real property. |
Credit Environmental Extension Interest Rate Liquidity Market Natural Event Political Prepayment Valuation |
Mortgage-Backed Securities: Debt obligations secured by real estate loans and pools of loans such as collateralized mortgage obligations (CMOs), commercial mortgage-backed securities (CMBSs) and other asset-backed structures. |
Credit Currency Extension Interest Rate Leverage Liquidity Market Political Prepayment Tax Valuation |
Mortgage Dollar Rolls1: A transaction in which the Fund sells securities for delivery in a current month and simultaneously contracts with the same party to repurchase similar but not identical securities on a specified future date. |
Currency Extension Interest Rate Leverage Liquidity Market Political Prepayment |
INSTRUMENT |
RISK TYPE |
Municipal Securities: Securities issued by a state or political subdivision to obtain funds for various public purposes. Municipal securities include, among others, private activity bonds and industrial development bonds, as well as general obligation notes, tax anticipation notes, bond anticipation notes, revenue anticipation notes, other short-term tax-exempt obligations, municipal leases, obligations of municipal housing authorities and single family revenue bonds. |
Credit Interest Rate Market Natural Event Political Prepayment Tax |
New Financial Products: New options and futures contracts and other financial products continue to be developed and the Fund may invest in such options, contracts and products. |
Credit Liquidity Management Market |
Options and Futures Transactions: The Fund may purchase and sell (a) exchange traded and over the counter put and call options on securities, indexes of securities and futures contracts on securities, indexes of securities, interest rate futures contracts and interest rate swaps and (b) futures contracts on securities and indexes of securities. |
Credit Leverage Liquidity Management Market |
Private Placements, Restricted Securities and Other Unregistered Securities: Securities not registered under the Securities Act of 1933, such as privately placed commercial paper and Rule 144A securities. |
Liquidity Market Valuation |
Real Estate Investment Trusts (REITs): Pooled investment vehicles which invest primarily in income producing real estate or real estate related loans or interest. |
Credit Interest Rate Liquidity Management Market Political Prepayment Tax Valuation |
Repurchase Agreements: The purchase of a security and the simultaneous commitment to return the security to the seller at an agreed upon price on an agreed upon date. This is treated as a loan. |
Credit Liquidity Market |
Reverse Repurchase Agreements1: The sale of a security and the simultaneous commitment to buy the security back at an agreed upon price on an agreed upon date. This is treated as a borrowing by the Fund. |
Credit Liquidity Market |
Securities Issued in Connection with Reorganizations and Corporate Restructurings: In connection with reorganizing or restructuring of an issuer, an issuer may issue common stock or other securities to holders of its debt securities. |
Market |
Securities Lending: The lending of up to 33 1∕3% of the Fund’s total assets. In return, the Fund will receive cash, other securities, and/or letters of credit as collateral. |
Credit Leverage Market |
Short-Term Funding Agreements: Agreements issued by banks and highly rated U.S. insurance companies such as Guaranteed Investment Contracts (GICs) and Bank Investment Contracts (BICs). |
Credit Liquidity Market |
Sovereign Obligations: Investments in debt obligations issued or guaranteed by a foreign sovereign government or its agencies, authorities or political subdivisions. |
Credit Foreign Investment Liquidity Political Valuation |
INSTRUMENT |
RISK TYPE |
Stripped Mortgage-Backed Securities: Derivative multi-class mortgage securities which are usually structured with two classes of shares that receive different proportions of the interest and principal from a pool of mortgage assets. These include Interest-Only (IO) and Principal-Only (PO) securities issued outside a Real Estate Mortgage Investment Conduit (REMIC) or CMO structure. |
Credit Liquidity Market Political Prepayment Valuation |
Structured Investments: A security having a return tied to an underlying index or other security or asset class. Structured investments generally are individually negotiated agreements and may be traded over-the-counter. Structured investments are organized and operated to restructure the investment characteristics of the underlying security. |
Credit Foreign Investment Liquidity Management Market Valuation |
Swaps and Related Swap Products: Swaps involve an exchange of obligations by two parties. Caps and floors entitle a purchaser to a principal amount from the seller of the cap or floor to the extent that a specified index exceeds or falls below a predetermined interest rate or amount. The Fund may enter into these transactions to manage its exposure to changing interest rates and other factors. |
Credit Currency Interest Rate Leverage Liquidity Management Market Political Valuation |
Temporary Defensive Positions: To respond to unusual circumstances the Fund may invest in cash and cash equivalents for temporary defensive purposes. |
Credit Interest Rate Liquidity Market |
Treasury Receipts: The Fund may purchase interests in separately traded interest and principal component parts of U.S. Treasury obligations that are issued by banks or brokerage firms and that are created by depositing U.S. Treasury notes and U.S. Treasury bonds into a special account at a custodian bank. Receipts include Treasury Receipts (TRs), Treasury Investment Growth Receipts (TIGRs), and Certificates of Accrual on Treasury Securities (CATS). |
Market |
Trust Preferred: Securities with characteristics of both subordinated debt and preferred stock. Trust preferreds are generally long term securities that make periodic fixed or variable interest payments. |
Credit Currency Interest Rate Liquidity Market Political Valuation |
U.S. Government Agency Securities: Securities issued or guaranteed by agencies and instrumentalities of the U.S. government. These include all types of securities issued by Ginnie Mae, Fannie Mae and Freddie Mac, including funding notes, subordinated benchmark notes, CMOs and REMICs. |
Credit Government Securities Interest Rate Market |
U.S. Government Obligations: May include direct obligations of the U.S. Treasury, including Treasury bills, notes and bonds, all of which are backed as to principal and interest payments by the full faith and credit of the United States, and separately traded principal and interest component parts of such obligations that are transferable through the Federal book-entry system known as Separate Trading of Registered Interest and Principal of Securities (STRIPS) and Coupons Under Book Entry Safekeeping (CUBES). |
Interest Rate Market |
INSTRUMENT |
RISK TYPE |
Variable and Floating Rate Instruments: Obligations with interest rates which are reset daily, weekly, quarterly or some other frequency and which may be payable to the Fund on demand or at the expiration of a specified term. |
Credit Liquidity Market Valuation |
When-Issued Securities, Delayed Delivery Securities and Forward Commitments: Purchase or contract to purchase securities at a fixed price for delivery at a future date. |
Credit Leverage Liquidity Market Valuation |
Zero-Coupon, Pay-in-Kind and Deferred Payment Securities: Zero-coupon securities are securities that are sold at a discount to par value and on which interest payments are not made during the life of the security. Pay-in-kind securities are securities that have interest payable by delivery of additional securities. Deferred payment securities are zero-coupon debt securities which convert on a specified date to interest bearing debt securities. |
Credit Currency Interest Rate Liquidity Market Political Valuation Zero-Coupon Securities |
|
Per share operating performance | ||||
|
|
Investment operations |
Distributions | ||
|
Net asset value, beginning of period |
Net investment income (loss) (a) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
JPMorgan Inflation Managed Bond Fund |
|
|
|
|
|
Class R6 |
|
|
|
|
|
Year Ended February 28, 2022 |
$10.74 |
$0.27 |
$0.18 |
$0.45 |
$(0.27) |
Year Ended February 28, 2021 |
10.46 |
0.20 |
0.28 |
0.48 |
(0.20) |
Year Ended February 29, 2020 |
10.05 |
0.27 |
0.41 |
0.68 |
(0.27) |
Year Ended February 28, 2019 |
10.16 |
0.25 |
(0.11) |
0.14 |
(0.25) |
Year Ended February 28, 2018 |
10.36 |
0.22 |
(0.19) |
0.03 |
(0.23) |
|
Ratios/Supplemental data | |||||
|
|
|
Ratios to average net assets |
| ||
Net asset value, end of period |
Total return (b) |
Net assets, end of period (000’s) |
Net expenses (c) |
Net investment income (loss) |
Expenses without waivers, reimbursements and earnings credits |
Portfolio turnover rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$10.92 |
4.23% |
$897,545 |
0.34% |
2.49% |
0.39% |
159% |
10.74 |
4.70 |
1,172,321 |
0.34 |
1.93 |
0.38 |
89 |
10.46 |
6.84 |
1,169,195 |
0.42 |
2.62 |
0.44 |
146 |
10.05 |
1.41 |
859,081 |
0.47 |
2.46 |
0.47 |
74 |
10.16 |
0.31 |
1,199,612 |
0.45 |
2.14 |
0.47 |
68 |
JPMorgan Realty Income ETF |
Ticker: JPRE |
Listing Exchange: NYSE Arca |
| |
Management Fees |
|
Other Expenses1 |
|
Total Annual Fund Operating Expenses |
|
Fee Waivers and/or Expense Reimbursements2 |
- |
Total Annual Fund Operating Expenses after Fee Waiv- ers and/or Expense Reimbursements2 |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
|
Past 1 Year |
Past 5 Years |
Past 10 Years |
CLASS R6 SHARES |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
MSCI US REIT INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
|
|
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Scott Blasdell |
2022 |
Managing Director |
Jason Ko, CFA |
2022 |
Executive Director |
NON-FUNDAMENTAL INVESTMENT OBJECTIVE |
An investment objective is fundamental if it cannot be changed without the consent of a majority of the outstanding Shares of the Fund. The Fund’s investment objective is not fundamental and may be changed without the consent of a majority of the outstanding Shares of the Fund. |
WHAT IS SECURITIES LENDING? |
Securities lending involves the loan of securities to borrowers in exchange for cash collateral which the Fund may reinvest. During the term of the loan, the Fund is entitled to receive amounts equivalent to distributions paid on the loaned securities as well as the return on the cash collateral investments. Upon termination of the loan, the Fund is required to return the cash collateral to the borrower plus an agreed upon rebate. Securities lending is not a principal strategy of the Fund. |
|
Realty Income ETF |
Authorized Participant Concentration Risk |
• |
Concentration Risk |
• |
Convertible Securities Risk |
○ |
Cyber Security Risk |
○ |
Equity Market Risk |
• |
General Market Risk |
• |
Investments in Mutual Funds and ETF Risks |
○ |
Market Trading Risk |
• |
Non-Diversified Fund Risk |
• |
Preferred Stock Risk |
○ |
Real Estate Securities Risk |
• |
Securities Lending Risk |
○ |
Smaller Company Risk |
• |
Tax Risk |
• |
Transactions and Liquidity Risk |
○ |
Volcker Rule Risk |
○ |
WHAT IS A CASH EQUIVALENT? |
Cash equivalents are highly liquid, high-quality instruments with maturities of three months or less on the date they are purchased. They include securities issued by the U.S. government, its agencies and instrumentalities, repurchase agreements, certificates of deposit, bankers’ acceptances, commercial paper, money market mutual funds, and bank deposit accounts. |
|
|
Per share operating performance | |||||
|
|
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 Realty Income Fund |
|
|
|
|
|
|
|
Class R6 |
|
|
|
|
|
|
|
Year Ended February 28, 2022 |
$13.64 |
$0.16 |
$3.25 |
$3.41 |
$(0.20) |
$(1.23) |
$(1.43) |
Year Ended February 28, 2021 |
13.55 |
0.21 |
0.47 |
0.68 |
(0.18) |
(0.41) |
(0.59) |
Year Ended February 29, 2020 |
13.68 |
0.28 |
0.88 |
1.16 |
(0.30) |
(0.99) |
(1.29) |
September 1, 2018 through February 28, 2019 (f) |
13.56 |
0.13 |
0.15 |
0.28 |
(0.16) |
— |
(0.16) |
Year Ended August 31, 2018 |
13.26 |
0.30 |
0.31 |
0.61 |
(0.31) |
— |
(0.31) |
Year Ended August 31, 2017 |
14.84 |
0.26 |
(0.83) |
(0.57) |
(0.26) |
(0.75) |
(1.01) |
|
Ratios/Supplemental data | |||||
|
|
|
Ratios to average net assets (a) |
| ||
Net asset value, end of period |
Total return (c)(d) |
Net assets, end of period (000’s) |
Net expenses (e) |
Net investment income (loss) |
Expenses without waivers, reimbursements and earnings credits |
Portfolio turnover rate (c) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$15.62 |
24.69% |
$1,450,453 |
0.68% |
0.98% |
0.70% |
59% |
13.64 |
5.38 |
1,663,701 |
0.68 |
1.67 |
0.70 |
90 |
13.55 |
8.23 |
1,289,281 |
0.68 |
1.92 |
0.76 |
71 |
13.68 |
2.13 |
2,238,097 |
0.67 |
1.99 |
0.85 |
50 |
13.56 |
4.79 |
2,325,640 |
0.68 |
2.34 |
0.85 |
107 |
13.26 |
(3.51) |
2,307,377 |
0.68 |
1.94 |
0.86 |
116 |
Fund Name |
Ticker |
Listing Exchange |
JPMorgan BetaBuilders MSCI US REIT ETF (the “BetaBuilders MSCI US REIT ETF” or the “Fund”) |
BBRE |
Cboe BZX Exchange, Inc. |
1 | |
1 | |
1 | |
1 | |
2 | |
3 | |
3 | |
4 | |
4 | |
5 | |
5 | |
5 | |
6 | |
7 | |
7 | |
7 | |
7 | |
8 | |
8 | |
8 | |
8 | |
9 | |
9 | |
9 | |
9 | |
9 | |
10 | |
10 | |
10 | |
10 | |
10 | |
10 | |
11 | |
11 | |
11 | |
11 | |
11 | |
11 |
Instrument |
Part II Section Reference |
Borrowings: The Fund may borrow for temporary purposes and/or for investment purposes. Such a practice will result in leveraging of the Fund’s assets and may cause the Fund to liquidate portfolio positions when it would not be advantageous to do so. The Fund must maintain continuous asset coverage of 300% of the amount borrowed, with the exception for borrowings not in excess of 5% of the Fund’s total assets made for temporary administrative purposes. |
Miscellaneous Investment Strategies and Risks |
Commercial Paper: Secured and unsecured short-term promissory notes issued by corporations and other entities. Maturities generally vary from a few days to nine months. |
Commercial Paper |
Common Stock: Shares of ownership of a company. |
Equity Securities, Warrants and Rights |
Common Stock Warrants and Rights: Securities, typically issued with preferred stock or bonds that give the holder the right to buy a proportionate amount of common stock at a specified price. |
Equity Securities, Warrants and Rights |
Investment Company Securities: Shares of other investment companies, including funds for which the Adviser and/or its affiliates serve as investment adviser or administrator. The adviser will waive certain fees when investing in funds for which it serves as investment adviser, to the extent required by law or by contract. |
Investment Company Securities |
New Financial Products: New options and futures contracts and other financial products continue to be developed and a Fund may invest in such options, contracts and products. |
Miscellaneous Investment Strategies and Risks |
Instrument |
Part II Section Reference |
Options and Futures Transactions: A Fund may purchase and sell (a) exchange traded and over-the-counter put and call options on securities, indexes of securities and futures contracts on securities and indexes of securities and (b) futures contracts on securities and indexes of securities. |
Options and Futures Transactions |
Preferred Stock: A class of stock that generally pays a dividend at a specified rate and has preference over common stock in the payment of dividends and in liquidation. |
Equity Securities, Warrants and Rights |
Real Estate Investment Trusts (“REITs”): Pooled investment vehicles which invest primarily in income producing real estate or real estate related loans or interest. |
Real Estate Investment Trusts |
Securities Issued in Connection with Reorganizations and Corporate Restructurings: In connection with reorganizing or restructuring of an issuer, an issuer may issue common stock or other securities to holders of its debt securities. |
Miscellaneous Investment Strategies and Risks |
U.S. Government Agency Securities: Securities issued by agencies and instrumentalities of the U.S. government. These include all types of securities issued by the Government National Mortgage Association (“Ginnie Mae”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”), including funding notes, subordinated benchmark notes, CMOs and REMICs. |
U.S. Government Obligations |
U.S. Government Obligations: May include direct obligations of the U.S. Treasury, including Treasury bills, notes and bonds, all of which are backed as to principal and interest payments by the full faith and credit of the United States, and separately traded principal and interest component parts of such obligations that are transferable through the Federal book-entry system known as Separate Trading of Registered Interest and Principal of Securities (“STRIPS”) and Coupons Under Book Entry Safekeeping (“CUBES”). |
U.S. Government Obligations |
When-Issued Securities, Delayed Delivery Securities and Forward Commitments: Purchase or contract to purchase securities at a fixed price for delivery at a future date. |
When-Issued Securities, Delayed Delivery Securities and Forward Commitments |
|
Fiscal Year Ended February 28, | |
Fund |
2021 |
2022 |
BetaBuilders MSCI US REIT ETF |
7% |
5% |
Committee |
Fiscal Year Ended February 28, 2022 |
Audit and Valuation Committee |
5 |
Compliance Committee* |
3 |
Governance and Nominating Committee** |
3 |
Governance Committee* |
1 |
Equity Committee* |
1 |
ETF Committee* |
1 |
Fixed Income Committee* |
1 |
Money Market and Alternative Products Committee* |
1 |
Oversight Committee for Insurance and Performance Reports** |
2 |
Name of Trustee |
Dollar Range of Equity Securities in BetaBuilders MSCI US REIT ETF |
Aggregate Dollar Range of Equity Securities in All Registered Investment Companies Overseen by the Trustee in Family of Investment Companies1,2 |
Independent Trustees |
|
|
John F. Finn3 |
None |
Over $100,000 |
Stephen P. Fisher3 |
None |
Over $100,000 |
Gary L. French |
None |
Over $100,000 |
Kathleen M. Gallagher |
None |
Over $100,000 |
Robert J. Grassi |
$10,001– $50,000 |
Over $100,000 |
Frankie D. Hughes |
None |
Over $100,000 |
Raymond Kanner3 |
None |
Over $100,000 |
Thomas P. Lemke |
None |
Over $100,000 |
Lawrence R. Maffia |
None |
Over $100,000 |
Mary E. Martinez |
None |
Over $100,000 |
Marilyn McCoy3 |
None |
Over $100,000 |
Dr. Robert A. Oden, Jr. |
None |
Over $100,000 |
Name of Trustee |
Dollar Range of Equity Securities in BetaBuilders MSCI US REIT ETF |
Aggregate Dollar Range of Equity Securities in All Registered Investment Companies Overseen by the Trustee in Family of Investment Companies1,2 |
Marian U. Pardo3 |
None |
Over $100,000 |
Emily A. Youssouf |
None |
$10,001– $50,000 |
Interested Trustees |
|
|
Robert Deutsch |
None |
Over $100,000 |
Nina O. Shenker3 |
None |
None |
Name of Trustee |
BetaBuilders MSCI US REIT ETF |
Total Compensation Paid From Fund Complex1 |
Independent Trustees |
|
|
John F. Finn2 |
$0 |
$620,000 |
Stephen P. Fisher2 |
0 |
445,0003 |
Gary L. French |
3,577 |
157,500 |
Kathleen M. Gallagher2 |
0 |
432,5004 |
Robert J. Grassi |
3,543 |
156,000 |
Frankie D. Hughes2 |
0 |
395,000 |
Raymond Kanner2 |
0 |
445,0003 |
Thomas P. Lemke |
3,588 |
158,000 |
Lawrence R. Maffia |
3,543 |
156,000 |
Name of Trustee |
BetaBuilders MSCI US REIT ETF |
Total Compensation Paid From Fund Complex1 |
Mary E. Martinez2 |
$0 |
$520,000 |
Marilyn McCoy2 |
0 |
395,0005 |
Dr. Robert A. Oden, Jr.2 |
0 |
445,000 |
Marian U. Pardo2 |
0 |
445,000 |
Emily A. Youssouf |
3,543 |
156,000 |
Interested Trustees |
|
|
Robert Deutsch |
3,407 |
150,000 |
Nina O. Shenker2 |
0 |
0 |
|
Fiscal Year Ended | ||
Fund |
February 29, 2020 |
February 28, 2021 |
February 28, 2022 |
BetaBuilders MSCI US REIT ETF |
$420,636 |
$1,013,552 |
$1,565,402 |
|
Fiscal Period Ended | |
|
February 29, 2020 | |
Fund |
Paid |
Waived |
BetaBuilders MSCI US REIT ETF |
$106,677 |
$(194,278) |
|
Fiscal Period Ended | |
|
February 29, 2020 | |
Fund |
Paid |
Waived |
BetaBuilders MSCI US REIT ETF |
$59,370 |
$(128,726) |
|
Non-Performance Based Fee Advisory Accounts | |||||
|
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | |||
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) | |
BetaBuilders MSCI US REIT ETF | ||||||
Nicholas D’Eramo |
15 |
$46,608,243 |
8 |
$26,027,293 |
3 |
$467,827 |
Michael Loeffler |
17 |
57,799,870 |
8 |
26,027,293 |
3 |
467,827 |
Oliver Furby |
10 |
40,670,967 |
8 |
26,027,293 |
2 |
204,864 |
Alex Hamilton |
9 |
34,332,344 |
8 |
26,027,293 |
2 |
204,864 |
|
Performance Based Fee Advisory Accounts | |||||
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | ||||
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) | |
BetaBuilders MSCI US REIT ETF | ||||||
Nicholas D’Eramo |
0 |
$0 |
0 |
$0 |
0 |
$0 |
Michael Loeffler |
0 |
0 |
0 |
0 |
0 |
0 |
Oliver Furby |
0 |
0 |
0 |
0 |
0 |
0 |
Alex Hamilton |
0 |
0 |
0 |
0 |
0 |
0 |
Fund |
Aggregate Dollar Range of Securities in the Fund | ||||||
None |
$1- $10,000 |
$10,001- $50,000 |
$50,001- $100,000 |
$100,001- $500,000 |
$500,001- $1,000,000 |
Over $1,000,000 | |
BetaBuilders MSCI US REIT ETF | |||||||
Nicholas D’Eramo |
|
|
X |
|
|
|
|
Michael Loeffler |
X |
|
|
|
|
|
|
Oliver Furby |
|
X |
|
|
|
|
|
Alex Hamilton |
X |
|
|
|
|
|
|
Name of Fund |
Benchmark |
BetaBuilders MSCI US REIT ETF |
MSCI US REIT Custom Capped Index |
|
Fiscal Year Ended | ||
Fund |
February 29, 2020 |
February 28, 2021 |
February 28, 2022 |
BetaBuilders MSCI US REIT ETF |
$20,195 |
$27,252 |
$41,328 |
|
BetaBuilders MSCI US REIT ETF |
Gross Income from Securities Lending Activities1 |
$112,435 |
Fees and/or Compensation for Securities Lending Activities |
|
Revenue Split2 |
6,052 |
Cash Collateral Management Fees3 |
36,528 |
Administrative Fees |
— |
Indemnification Fees |
— |
Rebates to Borrowers |
(5,677) |
Others Fees |
— |
Aggregate Fees/Compensation for Securities Lending Activities |
36,902 |
Net Income from the Securities Lending Activities |
75,533 |
|
Fiscal Year Ended | ||
Fund |
February 29, 2020 |
February 28, 2021 |
February 28, 2022 |
BetaBuilders MSCI US REIT ETF | |||
Total Brokerage Commissions |
$9,896 |
$16,127 |
$17,413 |
Brokerage Commissions to Affiliated Broker/ Dealers |
— |
— |
— |
Fund Name |
Amount |
BetaBuilders MSCI US REIT ETF |
$0 |
Fund |
Creation* |
Redemption* |
BetaBuilders MSCI US REIT ETF |
25,000 |
25,000 |
|
Capital Loss Carryforward Character | |
Fund |
Short-Term |
Long-Term |
BetaBuilders MSCI US REIT ETF |
$1,762,128 |
$— |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
JPMORGAN BETABUILDERS MSCI US REIT ETF | ||
|
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION* 383 MADISON AVENUE NEW YORK, NY 10017 |
57% |
|
|
|
|
THE BANK OF NEW YORK MELLON 240 GREENWICH STREET NEW YORK, NY 10286 |
10% |
|
|
|
|
MORGAN STANLEY 1585 BROADWAY NEW YORK, NY 10036 |
10% |
Fund Name |
Ticker |
Listing Exchange |
JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF (the “BetaBuilders 1-5 Year U.S. Aggregate Bond ETF”) |
BBSA |
Cboe BZX Exchange, Inc. |
JPMorgan Core Plus Bond ETF (the “Core Plus Bond ETF”) |
JCPB |
Cboe BZX Exchange, Inc. |
JPMorgan Corporate Bond Research Enhanced ETF (the “Corporate Bond Research Enhanced ETF”) |
JIGB |
NYSE Arca |
JPMorgan High Yield Research Enhanced ETF (the “High Yield Research Enhanced ETF”) |
JPHY |
Cboe BZX Exchange, Inc. |
JPMorgan Income ETF (the “Income ETF”) |
JPIE |
NYSE Arca |
JPMorgan International Bond Opportunities ETF (the “International Bond Opportunities ETF”) |
JPIB |
Cboe BZX Exchange, Inc. |
JPMorgan Municipal ETF (the “Municipal ETF”) |
JMUB |
Cboe BZX Exchange, Inc. |
JPMorgan Short Duration Core Plus ETF (the “Short Duration Core Plus ETF”) |
JSCP |
NYSE Arca |
JPMorgan U.S. Aggregate Bond ETF (the “U.S. Aggregate Bond ETF”) |
JAGG |
NYSE Arca |
JPMorgan Ultra-Short Income ETF (the “Ultra-Short Income ETF”) |
JPST |
Cboe BZX Exchange, Inc. |
JPMorgan Ultra-Short Municipal Income ETF (the “Ultra-Short Municipal Income ETF”) |
JMST |
Cboe BZX Exchange, Inc. |
JPMorgan USD Emerging Markets Sovereign Bond ETF (the “USD Emerging Markets Sovereign Bond ETF”) |
JPMB |
NYSE Arca |
1 | |
1 | |
1 | |
1 | |
3 | |
5 | |
5 | |
5 | |
11 | |
11 | |
11 | |
11 | |
12 | |
14 | |
15 | |
15 | |
16 | |
16 | |
17 | |
17 | |
19 | |
20 | |
21 | |
21 | |
21 | |
22 | |
22 | |
23 | |
23 | |
24 | |
25 | |
25 | |
25 | |
25 | |
25 | |
26 | |
26 | |
26 | |
26 | |
27 |
FUND NAME |
FUND CODE |
BetaBuilders 1-5 Year U.S. Aggregate Bond ETF |
1 |
Core Plus Bond ETF |
2 |
Corporate Bond Research Enhanced ETF |
3 |
High Yield Research Enhanced ETF |
4 |
Income ETF |
5 |
International Bond Opportunities ETF |
6 |
Municipal ETF |
7 |
Short Duration Core Plus ETF |
8 |
U.S. Aggregate Bond ETF |
9 |
Ultra-Short Income ETF |
10 |
Ultra-Short Municipal Income ETF |
11 |
USD Emerging Markets Sovereign Bond ETF |
12 |
Instrument |
Fund Code |
Part II Section Reference |
Adjustable Rate Mortgage Loans (“ARMs”): Loans in a mortgage pool which provide for a fixed initial mortgage interest rate for a specified period of time, after which the rate may be subject to periodic adjustments. |
1-2, 5-6, 8-10 |
Mortgage-Related Securities |
Instrument |
Fund Code |
Part II Section Reference |
Asset-Backed Securities: Securities secured by company receivables, home equity loans, truck and auto loans, leases, and credit card receivables or other securities backed by other types of receivables or other assets. and pools of loans, such as collateralized loan obligations. |
1-2, 5-11 |
Asset-Backed Securities |
Auction Rate Securities: Auction rate municipal securities and auction rate preferred securities issued by closed-end investment companies. |
5-8, 11 |
Auction Rate Securities |
Bank Obligations: Bankers’ acceptances, certificates of deposit and time deposits. Bankers’ acceptances are bills of exchange or time drafts drawn on and accepted by a commercial bank. Maturities are generally six months or less. Certificates of deposit are negotiable certificates issued by a bank for a specified period of time and earning a specified return. Time deposits are non-negotiable receipts issued by a bank in exchange for the deposit of funds. |
1-11 |
Bank Obligations |
Borrowings: A Fund may borrow for temporary purposes and/or for investment purposes. Such a practice will result in leveraging of a Fund’s assets and may cause a Fund to liquidate portfolio positions when it would not be advantageous to do so. A Fund must maintain continuous asset coverage of 300% of the amount borrowed, with the exception for borrowings not in excess of 5% of the Fund’s total assets made for temporary administrative purposes. |
1, 3-11 |
Miscellaneous Investment Strategies and Risks |
Brady Bonds: Securities created through the exchange of existing commercial bank loans to public and private entities in certain emerging markets for new bonds in connection with debt restructurings. |
1-2, 5-6, 8-9, 12 |
Foreign Investments (including Foreign Currencies) |
Call and Put Options: A call option gives the buyer the right to buy, and obligates the seller of the option to sell, a security at a specified price at a future date. A put option gives the buyer the right to sell, and obligates the seller of the option to buy, a security at a specified price at a future date. |
2, 5-8, 11 |
Options and Futures Transactions |
Commercial Paper: Secured and unsecured short-term promissory notes issued by corporations and other entities. Maturities generally vary from a few days to nine months |
1-2, 4-11 |
Commercial Paper |
Commodity-Related Pooled Investment Vehicles: Ownership interests in grantor trusts and other pooled investment vehicles that hold tangible assets such as gold, silver and other commodities or invest in commodities futures. Grantor trusts are typically traded on an exchange. |
5-6 |
Commodity-Related Pooled Investment Vehicles |
Common Stock: Shares of ownership of a company. |
2, 4-6, 8 |
Equity Securities, Warrants and Rights |
Common Stock Warrants and Rights: Securities, typically issued with preferred stock or bonds, that give the holder the right to buy a proportionate amount of common stock at a specified price. |
2, 4-5 |
Equity Securities, Warrants and Rights |
Contract for Differences: An arrangement made in a futures contract whereby differences in settlement are made through cash payments, rather than the delivery of physical goods or securities. |
10 |
Swaps and Related Swap Products |
Convertible Securities: Bonds or preferred stock that can convert to common stock. |
2, 4-6, 8 |
Convertible Securities |
Instrument |
Fund Code |
Part II Section Reference |
Corporate Debt Securities: May include bonds and other debt securities of domestic and foreign issuers, including obligations of industrial, utility, banking and other corporate issuers. |
1-12 |
Debt Instruments |
Credit Default Swaps (“CDSs”): A swap agreement between two parties pursuant to which one party pays the other a fixed periodic coupon for the specified life of the agreement. The other party makes no payment unless a credit event, relating to a predetermined reference asset, occurs. If such an event occurs, the party will then make a payment to the first party, and the swap will terminate. |
1-2, 5-9, 12 |
Swaps and Related Swap Products |
Custodial Receipts: A Fund may acquire securities in the form of custodial receipts that evidence ownership of future interest payments, principal payments or both on certain U.S. Treasury notes or bonds in connection with programs sponsored by banks and brokerage firms. These are not considered to be U.S. government securities. These notes and bonds are held in custody by a bank on behalf of the owners of the receipts. |
2, 5-6 |
Custodial Receipts |
Demand Features: Securities that are subject to puts and standby commitments to purchase the securities at a fixed price (usually with accrued interest) within a fixed period of time following demand by a Fund. |
2, 5-8, 11 |
Demand Features |
Emerging Market Securities: Securities issued by issuers or governments in countries with emerging economies or securities markets which may be undergoing significant evolution and rapid development. |
1-2, 5-9, 11 |
Foreign Investments (including Foreign Currencies) |
Exchange-Traded Funds (“ETFs”): Ownership interest in unit investment trusts, depositary receipts, and other pooled investment vehicles that hold a portfolio of securities or stocks designed to track the price performance and dividend yield of a particular broad-based, sector or international index. ETFs include a wide range of investments. |
1-2, 5-9, 11-12 |
Investment Company Securities and Exchange- Traded Funds |
Foreign Currency Transactions: Strategies used to hedge against currency risks, for other risk management purposes or to increase income or gain to a Fund. These strategies may consist of use of any of the following: options on currencies, currency futures, options on such futures, forward foreign currency transactions (including non- deliverable forwards (“NDFs”)), forward rate agreements and currency swaps, caps and floors. |
2, 5-6, 8 |
Foreign Investments (including Foreign Currencies) |
Foreign Investments: Equity securities of foreign entities and obligations of foreign branches of U.S. banks and foreign banks. Foreign securities may also include American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”), European Depositary Receipts (“EDRs”) and American Depositary Securities (“ADSs”). |
1-6, 8-10, 12 |
Foreign Investments (including Foreign Currencies) |
High Yield/High Risk Securities/Junk Bonds: Securities that are generally rated below investment grade by the primary rating agencies or are unrated but are deemed by a Fund’s adviser to be of comparable quality. |
2-8, 10-12 |
Debt Instruments |
Inflation-Linked Debt Securities: Includes fixed and floating rate debt securities of varying maturities issued by the U.S. government as well as securities issued by other entities such as corporations, foreign governments and foreign issuers. |
2, 5-8, 10-11 |
Debt Instruments |
Instrument |
Fund Code |
Part II Section Reference |
Initial Public Offering (“IPOs”): A transaction in which a previously private company makes its first sale of stock to the public. |
5-6 |
Equity Securities, Warrants and Rights |
Inverse Floating Rate Instruments: Leveraged variable debt instruments with interest rates that reset in the opposite direction from the market rate of interest to which the inverse floater is indexed. |
2, 5-8, 11 |
Inverse Floaters and Interest Rate Caps |
Investment Company Securities: Shares of other investment companies, including money market funds for which the Adviser and/or its affiliates serve as investment adviser or administrator. The Adviser will waive certain fees when investing in funds for which it serves as investment adviser, to the extent required by law or by contract. |
1-12 |
Investment Company Securities and Exchange- Traded Funds |
Loan Assignments and Participations: Assignments of, or participations in, all or a portion of loans to corporations or to governments, including governments of lesser developed countries. |
2, 5-8, 12 |
Loans |
Master Limited Partnerships (“MLPs”): Limited partnerships that are publicly traded on a securities exchange. |
5-6, 8 |
Master Limited Partnerships |
Mortgages (Directly Held): Debt instruments secured by real property. |
2, 5-6, 8 |
Mortgage-Related Securities |
Mortgage-Backed Securities: Debt obligations secured by real estate loans and pools of loans. |
1-2, 5-11 |
Mortgage-Related Securities |
Mortgage Dollar Rolls: A transaction in which a Fund sells securities for delivery in a current month and simultaneously contracts with the same party to repurchase similar but not identical securities on a specified future date. |
2, 5-6, 8, 10 |
Mortgage-Related Securities |
Municipal Securities: Securities issued by a state or political subdivision (including securities issued by a foreign state or subdivision) to obtain funds for various public purposes. Municipal securities include, among others, private activity bonds and industrial development bonds, as well as general obligation notes, tax anticipation notes, bond anticipation notes, revenue anticipation notes, other short-term tax- exempt obligations, municipal leases, obligations of municipal housing authorities and single family revenue bonds. |
1-2, 5-11 |
Municipal Securities |
New Financial Products: New options and futures contracts and other financial products continue to be developed and a Fund may invest in such options, contracts and products. |
2, 5-8, 11 |
New Financial Products |
Obligations of Supranational Agencies: Obligations which are chartered to promote economic development and are supported by various governments and governmental agencies. |
1-2, 5-6, 8-10 |
Foreign Investments (including Foreign Currencies) |
Options and Futures Transactions: A Fund may purchase and sell (a) exchange traded and over the counter put and call options on securities, indexes of securities and futures contracts on securities and indexes of securities, commodities, interest rate futures contracts and interest rate swaps and (b) futures contracts on securities and indexes of securities and commodities. |
1-3, 5-12 |
Options and Futures Transactions |
Preferred Stock: A class of stock that generally pays a dividend at a specified rate and has preference over common stock in the payment of dividends and in liquidation. |
2, 4-6, 8 |
Equity Securities, Warrants and Rights |
Instrument |
Fund Code |
Part II Section Reference |
Private Placements, Restricted Securities and Other Unregistered Securities: Securities not registered under the Securities Act of 1933, such as privately placed commercial paper and Rule 144A securities. |
1-12 |
Miscellaneous Investment Strategies and Risks |
Real Estate Investment Trusts (“REITs”): Pooled investment vehicles which invest primarily in income producing real estate or real estate related loans or interest. |
2, 4-5 |
Real Estate Investment Trusts |
Repurchase Agreements: The purchase of a security and the simultaneous commitment to return the security to the seller at an agreed upon price on an agreed upon date. This is treated as a loan. |
2, 5, 7-8, 10-11 |
Repurchase Agreements |
Reverse Repurchase Agreements: The sale of a security and the simultaneous commitment to buy the security back at an agreed upon price on an agreed upon date. This is treated as a borrowing by a Fund. |
2, 5, 8, 11 |
Reverse Repurchase Agreements |
Securities Issued in Connection with Reorganizations and Corporate Restructurings: In connection with reorganizing or restructuring of an issuer, an issuer may issue common stock or other securities to holders of its debt securities. |
1-2, 4-6, 8-9, 12 |
Miscellaneous Investment Strategies and Risks |
Securities Lending: The lending of up to 33 1∕3% of a Fund’s total assets. In return a Fund will receive cash as collateral. |
1-3, 4-5, 8-9, 11 |
Securities Lending |
Short-Term Funding Agreements: Agreements issued by banks and highly rated U.S. insurance companies such as Guaranteed Investment Contracts (“GICs”) and Bank Investment Contracts (“BICs”). |
2, 5-8, 11 |
Short-Term Funding Agreements |
Short Selling: A Fund sells a security it does not own in anticipation of a decline in the market value of the security. To complete the transaction, a Fund must borrow the security to make delivery to the buyer. A Fund is obligated to replace the security borrowed by purchasing it subsequently at the market price at the time of replacement. A Fund may enter into physical short transactions or obtain the short exposure through synthetic derivative transactions. |
6 |
Short Selling |
Sovereign Obligations: Investments in debt obligations issued or guaranteed by a foreign sovereign government or its agencies, authorities or political subdivisions. |
1-2, 5-6, 8-10, 12 |
Foreign Investments (including Foreign Currencies) |
Stripped Mortgage-Backed Securities: Derivative multi- class mortgage securities which are usually structured with two classes of shares that receive different proportions of the interest and principal from a pool of mortgage assets. These include Interest-Only (“IO”) and Principal-Only (“PO”) securities issued outside a Real Estate Mortgage Investment Conduit (“REMIC”) or CMO structure. |
2, 5-6, 8, 10 |
Mortgage-Related Securities |
Structured Investments: A security having a return tied to an underlying index or other security or asset class. Structured investments generally are individually negotiated agreements and may be traded over-the-counter. Structured investments are organized and operated to restructure the investment characteristics of the underlying index, currency, commodity or financial instrument. |
1-2, 5-6, 8-9, 11-12 |
Structured Investments |
Swaps and Related Swap Products: Swaps involve an exchange of obligations by two parties. Caps and floors entitle a purchaser to a principal amount from the seller of the cap or floor to the extent that a specified index exceeds or falls below a predetermined interest rate or amount. A Fund may enter into these transactions to manage its exposure to changing interest rates and other factors. |
2, 5-8, 11 |
Swaps and Related Swap Products |
Instrument |
Fund Code |
Part II Section Reference |
Synthetic Variable Rate Instruments: Instruments that generally involve the deposit of a long-term tax exempt bond in a custody or trust arrangement and the creation of a mechanism to adjust the long-term interest rate on the bond to a variable short- term rate and a right (subject to certain conditions) on the part of the purchaser to tender it periodically to a third party at par. |
2, 5-6, 8, 11 |
Synthetic Variable Rate Instruments |
Temporary Defensive Positions: To respond to unusual circumstances a Fund may invest in cash and cash equivalents for temporary defensive purposes. |
2, 4-8, 10-11 |
Miscellaneous Investment Strategies and Risks |
Treasury Receipts: A Fund may purchase interests in separately traded interest and principal component parts of U.S. Treasury obligations that are issued by banks or brokerage firms and that are created by depositing U.S. Treasury notes and U.S. Treasury bonds into a special account at a custodian bank. Receipts include Treasury Receipts (TRs), Treasury Investment Growth Receipts (TIGRs), and Certificates of Accrual on Treasury Securities (CATS). |
2, 4-8, 10-11 |
Treasury Receipts |
Trust Preferred: Securities with characteristics of both subordinated debt and preferred stock. Trust preferreds are generally long term securities that make periodic fixed or variable interest payments. |
2, 4-6, 8 |
Trust Preferred |
U.S. Government Agency Securities: Securities issued or guaranteed by agencies and instrumentalities of the U.S. government. These include all types of securities issued by the Government National Mortgage Association (“Ginnie Mae”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”), including funding notes, subordinated benchmark notes, CMOs and REMICs. |
1-3, 5-11 |
Mortgage-Related Securities |
U.S. Government Obligations: May include direct obligations of the U.S. Treasury, including Treasury bills, notes and bonds, all of which are backed as to principal and interest payments by the full faith and credit of the United States, and separately traded principal and interest component parts of such obligations that are transferable through the Federal book-entry system known as Separate Trading of Registered Interest and Principal of Securities (STRIPS) and Coupons Under Book Entry Safekeeping (CUBES). |
1-11 |
U.S. Government Obligations |
Variable and Floating Rate Instruments: Obligations with interest rates which are reset daily, weekly, quarterly or some other frequency and which may be payable to a Fund on demand or at the expiration of a specified term. |
2, 4-11 |
Debt Instruments |
When-Issued Securities, Delayed Delivery Securities and Forward Commitments: Purchase or contract to purchase securities at a fixed price for delivery at a future date. |
1-2, 4-11 |
When-Issued Securities, Delayed Delivery Securities and Forward Commitments |
Zero-Coupon, Pay-in-Kind and Deferred Payment Securities: Zero-coupon securities are securities that are sold at a discount to par value and on which interest payments are not made during the life of the security. Pay- in-kind securities are securities that have interest payable by delivery of additional securities. Deferred payment securities are zero-coupon debt securities which convert on a specified date to interest bearing debt securities. |
1-2, 4-11 |
Debt Instruments |
|
Fiscal Year Ended February 28, | |
Fund |
2021 |
2022 |
BetaBuilders 1-5 Year U.S. Aggregate Bond ETF |
40% |
45% |
Core Plus Bond ETF |
272% |
81% |
Corporate Bond Research Enhanced ETF |
41% |
36% |
High Yield Research Enhanced ETF |
50% |
46% |
Income ETF1 |
N/A |
13% |
International Bond Opportunities ETF |
136% |
52% |
Municipal ETF |
56% |
48% |
Short Duration Core Plus ETF2 |
N/A |
175% |
U.S. Aggregate Bond ETF |
64% |
78% |
Ultra-Short Income ETF |
94% |
70% |
Ultra-Short Municipal Income ETF |
67% |
50% |
USD Emerging Markets Sovereign Bond ETF |
59% |
38% |
Committee |
Fiscal Year Ended February 28, 2022 |
Audit and Valuation Committee |
5 |
Compliance Committee* |
3 |
Governance and Nominating Committee** |
3 |
Governance Committee* |
1 |
Committee |
Fiscal Year Ended February 28, 2022 |
Equity Committee* |
1 |
ETF Committee* |
1 |
Fixed Income Committee* |
1 |
Money Market and Alternative Products Committee* |
1 |
Oversight Committee for Insurance and Performance Reports** |
2 |
Name of Trustee |
Dollar Range of Equity Securities in BetaBuilders 1-5 Year U.S. Aggregate Bond ETF |
Dollar Range of Equity Securities in Core Plus Bond ETF |
Dollar Range of Equity Securities in Corporate Bond Research Enhanced ETF |
Dollar Range of Equity Securities in High Yield Research Enhanced ETF |
Dollar Range of Equity Securities in Income ETF |
Independent Trustees |
|
|
|
|
|
John F. Finn3 |
None |
None |
None |
None |
None |
Stephen P. Fisher3 |
None |
None |
None |
None |
None |
Gary L. French |
None |
None |
None |
None |
None |
Kathleen M. Gallagher |
None |
None |
None |
None |
None |
Robert J. Grassi |
None |
None |
None |
$10,001– $50,000 |
None |
Frankie D. Hughes |
None |
None |
None |
None |
None |
Raymond Kanner3 |
None |
None |
None |
None |
None |
Thomas P. Lemke |
None |
None |
Over $100,000 |
None |
None |
Lawrence R. Maffia |
None |
None |
None |
None |
None |
Mary E. Martinez |
None |
None |
None |
None |
None |
Marilyn McCoy3 |
None |
None |
None |
None |
None |
Dr. Robert A. Oden, Jr. |
None |
None |
None |
None |
None |
Marian U. Pardo3 |
None |
None |
None |
None |
None |
Emily A. Youssouf |
None |
None |
None |
None |
None |
Interested Trustees |
|
|
|
|
|
Robert Deutsch |
None |
None |
None |
None |
None |
Nina O. Shenker3 |
None |
None |
None |
None |
None |
Name of Trustee |
Dollar Range of Equity Securities in International Bond Opportunities ETF |
Dollar Range of Equity Securities in Municipal ETF |
Dollar Range of Equity Securities in Short Duration Core Plus ETF |
Dollar Range of Equity Securities in U.S. Aggregate Bond ETF |
Dollar Range of Equity Securities in Ultra-Short Income ETF |
Independent Trustees |
|
|
|
|
|
John F. Finn3 |
None |
None |
None |
None |
None |
Stephen P. Fisher3 |
None |
None |
None |
None |
None |
Gary L. French |
None |
None |
None |
None |
None |
Kathleen M. Gallagher |
None |
None |
None |
None |
None |
Robert J. Grassi |
None |
None |
None |
None |
None |
Frankie D. Hughes |
None |
None |
None |
None |
None |
Raymond Kanner3 |
None |
None |
None |
None |
None |
Thomas P. Lemke |
None |
None |
None |
None |
None |
Lawrence R. Maffia |
None |
None |
None |
$50,001– $100,000 |
$10,001– $50,000 |
Name of Trustee |
Dollar Range of Equity Securities in International Bond Opportunities ETF |
Dollar Range of Equity Securities in Municipal ETF |
Dollar Range of Equity Securities in Short Duration Core Plus ETF |
Dollar Range of Equity Securities in U.S. Aggregate Bond ETF |
Dollar Range of Equity Securities in Ultra-Short Income ETF |
Mary E. Martinez |
None |
None |
None |
None |
None |
Marilyn McCoy3 |
None |
None |
None |
None |
None |
Dr. Robert A. Oden, Jr. |
None |
None |
None |
None |
None |
Marian U. Pardo3 |
None |
None |
None |
None |
None |
Emily A. Youssouf |
None |
None |
None |
None |
None |
Interested Trustees |
|
|
|
|
|
Robert Deutsch |
None |
None |
None |
None |
None |
Nina O. Shenker3 |
None |
None |
None |
None |
None |
Name of Trustee |
Dollar Range of Equity Securities in Ultra-Short Municipal Income ETF |
Dollar Range of Equity Securities in USD Emerging Markets Sovereign Bond ETF |
Aggregate Dollar Range of Equity Securities in All Registered Investment Companies Overseen by the Trustee in Family of Investment Companies1,2 |
Independent Trustees |
|
|
|
John F. Finn3 |
None |
None |
Over $100,000 |
Stephen P. Fisher3 |
None |
None |
Over $100,000 |
Gary L. French |
None |
None |
Over $100,000 |
Kathleen M. Gallagher |
None |
None |
Over $100,000 |
Robert J. Grassi |
None |
$10,001– $50,000 |
Over $100,000 |
Frankie D. Hughes |
None |
None |
Over $100,000 |
Raymond Kanner3 |
None |
None |
Over $100,000 |
Thomas P. Lemke |
None |
None |
Over $100,000 |
Lawrence R. Maffia |
None |
None |
Over $100,000 |
Mary E. Martinez |
None |
None |
Over $100,000 |
Marilyn McCoy3 |
None |
None |
Over $100,000 |
Dr. Robert A. Oden, Jr. |
None |
None |
Over $100,000 |
Marian U. Pardo3 |
None |
None |
Over $100,000 |
Emily A. Youssouf |
None |
None |
$10,001– $50,000 |
Interested Trustees |
|
|
|
Robert Deutsch |
None |
None |
Over $100,000 |
Nina O. Shenker3 |
None |
None |
None |
Name of Trustee |
BetaBuilders 1-5 Year U.S. Aggregate Bond ETF |
Core Plus Bond ETF |
Corporate Bond Research Enhanced ETF |
High Yield Research Enhanced ETF |
Income ETF |
Independent Trustees |
|
|
|
|
|
John F. Finn2 |
$0 |
$0 |
$0 |
$0 |
$0 |
Stephen P. Fisher2 |
0 |
0 |
0 |
0 |
0 |
Gary L. French |
153 |
433 |
155 |
3,623 |
8 |
Kathleen M. Gallagher2 |
0 |
0 |
0 |
0 |
0 |
Robert J. Grassi |
151 |
429 |
153 |
3,588 |
7 |
Frankie D. Hughes2 |
0 |
0 |
0 |
0 |
0 |
Raymond Kanner2 |
0 |
0 |
0 |
0 |
0 |
Thomas P. Lemke |
153 |
434 |
155 |
3,634 |
8 |
Lawrence R. Maffia |
151 |
429 |
153 |
3,588 |
7 |
Mary E. Martinez2 |
0 |
0 |
0 |
0 |
0 |
Marilyn McCoy2 |
0 |
0 |
0 |
0 |
0 |
Dr. Robert A. Oden, Jr.2 |
0 |
0 |
0 |
0 |
0 |
Marian U. Pardo2 |
0 |
0 |
0 |
0 |
0 |
Emily A. Youssouf |
151 |
429 |
153 |
3,588 |
7 |
Interested Trustees |
|
|
|
|
|
Robert Deutsch |
146 |
412 |
148 |
3,450 |
7 |
Nina O. Shenker2 |
0 |
0 |
0 |
0 |
0 |
Name of Trustee |
International Bond Opportunities ETF |
Municipal ETF |
Short Duration Core Plus ETF |
U.S. Aggregate Bond ETF |
Ultra-Short Income ETF |
Independent Trustees |
|
|
|
|
|
John F. Finn2 |
$0 |
$0 |
$0 |
$0 |
$0 |
Stephen P. Fisher2 |
0 |
0 |
0 |
0 |
0 |
Gary L. French |
751 |
230 |
185 |
2,761 |
47,071 |
Kathleen M. Gallagher2 |
0 |
0 |
0 |
0 |
0 |
Robert J. Grassi |
744 |
228 |
183 |
2,735 |
46,623 |
Frankie D. Hughes2 |
0 |
0 |
0 |
0 |
0 |
Raymond Kanner2 |
0 |
0 |
0 |
0 |
0 |
Thomas P. Lemke |
753 |
231 |
185 |
2,770 |
47,221 |
Lawrence R. Maffia |
744 |
228 |
183 |
2,735 |
46,623 |
Mary E. Martinez2 |
0 |
0 |
0 |
0 |
0 |
Marilyn McCoy2 |
0 |
0 |
0 |
0 |
0 |
Dr. Robert A. Oden, Jr.2 |
0 |
0 |
0 |
0 |
0 |
Marian U. Pardo2 |
0 |
0 |
0 |
0 |
0 |
Emily A. Youssouf |
744 |
228 |
183 |
2,735 |
46,623 |
Interested Trustees |
|
|
|
|
|
Robert Deutsch |
715 |
219 |
176 |
2,629 |
44,830 |
Nina O. Shenker2 |
0 |
0 |
0 |
0 |
0 |
Name of Trustee |
Ultra- Short Municipal Income ETF |
USD Emerging Markets Sovereign Bond ETF |
Total Compensation Paid From Fund Complex1 |
Independent Trustees |
|
|
|
John F. Finn2 |
$0 |
$0 |
$620,000 |
Stephen P. Fisher2 |
0 |
0 |
445,0003 |
Gary L. French |
4,697 |
222 |
157,500 |
Kathleen M. Gallagher2 |
0 |
0 |
432,5004 |
Robert J. Grassi |
4,652 |
220 |
156,000 |
Frankie D. Hughes2 |
0 |
0 |
395,000 |
Raymond Kanner2 |
0 |
0 |
445,0003 |
Thomas P. Lemke |
4,712 |
223 |
158,000 |
Lawrence R. Maffia |
4,652 |
220 |
156,000 |
Mary E. Martinez2 |
0 |
0 |
520,000 |
Marilyn McCoy2 |
0 |
0 |
395,0005 |
Dr. Robert A. Oden, Jr.2 |
0 |
0 |
445,000 |
Marian U. Pardo2 |
0 |
0 |
445,000 |
Emily A. Youssouf |
4,652 |
220 |
156,000 |
Interested Trustees |
|
|
|
Robert Deutsch |
4,473 |
212 |
150,000 |
Nina O. Shenker2 |
0 |
0 |
0 |
|
Fiscal Year Ended | ||
Fund |
February 29, 2020 |
February 28, 2021 |
February 28, 2022 |
BetaBuilders 1-5 Year U.S. Aggregate Bond ETF1 |
$15,589 |
$21,720 |
$26,015 |
Core Plus Bond ETF |
43,540 |
368,866 |
740,125 |
Corporate Bond Research Enhanced ETF |
26,549 |
60,753 |
76,457 |
High Yield Research Enhanced ETF |
133,733 |
811,073 |
3,771,426 |
Income ETF2 |
N/A |
N/A |
150,241 |
International Bond Opportunities ETF |
294,880 |
869,744 |
1,470,475 |
Municipal ETF |
34,147 |
138,012 |
161,324 |
Short Duration Core Plus ETF3 |
N/A |
N/A |
387,921 |
U.S. Aggregate Bond ETF |
93,172 |
476,422 |
736,828 |
Ultra-Short Income ETF |
5,993,089 |
22,121,701 |
31,237,223 |
|
Fiscal Year Ended | ||
Fund |
February 29, 2020 |
February 28, 2021 |
February 28, 2022 |
Ultra-Short Municipal Income ETF |
$88,973 |
$1,066,035 |
$3,507,246 |
USD Emerging Markets Sovereign Bond ETF |
111,026 |
328,421 |
300,950 |
|
Fiscal Period Ended | |
|
February 29, 2020 | |
Fund |
Paid |
Waived |
Core Plus Bond ETF |
$— |
$(58,662) |
Corporate Bond Research Enhanced ETF |
— |
(26,346) |
High Yield Research Enhanced ETF |
205,449 |
(119,071) |
International Bond Opportunities ETF |
494,073 |
(201,458) |
Municipal ETF |
— |
(55,203) |
U.S. Aggregate Bond ETF |
— |
(82,173) |
Ultra-Short Income ETF |
5,134,597 |
(2,476,036) |
Ultra-Short Municipal Income ETF |
— |
(101,687) |
USD Emerging Markets Sovereign Bond ETF |
38,224 |
(100,357) |
|
Fiscal Period Ended | |
|
February 29, 2020 | |
Fund |
Paid |
Waived |
Core Plus Bond ETF |
$— |
$(14,665) |
Corporate Bond Research Enhanced ETF |
— |
(14,114) |
High Yield Research Enhanced ETF |
4,319 |
(76,811) |
International Bond Opportunities ETF |
— |
(94,845) |
Municipal ETF |
— |
(17,251) |
U.S. Aggregate Bond ETF |
— |
(88,043) |
Ultra-Short Income ETF |
2,301,496 |
(1,503,821) |
Ultra-Short Municipal Income ETF |
— |
(50,843) |
USD Emerging Markets Sovereign Bond ETF |
— |
(32,480) |
|
Non-Performance Based Fee Advisory Accounts | |||||
|
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | |||
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) | |
BetaBuilders 1-5 Year U.S. Aggregate Bond ETF | ||||||
Eric Isenberg |
7 |
$1,976,380 |
24 |
$6,091,645 |
14 |
$2,394,710 |
Naveen Kumar |
6 |
3,285,226 |
25 |
6,064,291 |
13 |
1,933,269 |
Behnood Noei |
4 |
1,779,828 |
15 |
4,805,873 |
3 |
569,033 |
Jonathan Msika |
4 |
1,779,828 |
18 |
4,719,540 |
4 |
601,868 |
Core Plus Bond ETF | ||||||
Steven Lear |
17 |
79,443,348 |
5 |
15,886,520 |
14 |
1,871,625 |
Richard Figuly |
28 |
77,068,035 |
15 |
19,119,794 |
20 |
5,236,250 |
J. Andrew Norelli |
4 |
34,092,623 |
7 |
16,041,405 |
1 |
770,504 |
Lisa Coleman |
18 |
26,817,211 |
20 |
23,438,614 |
22 |
32,054,613 |
Thomas Hauser |
18 |
43,541,256 |
10 |
28,870,704 |
33 |
6,784,099 |
Corporate Bond Research Enhanced ETF | ||||||
Lisa Coleman |
18 |
27,042,609 |
20 |
23,438,614 |
22 |
32,054,613 |
Lorenzo Napolitano |
15 |
5,794,224 |
20 |
11,788,158 |
34 |
41,703,505 |
Naveen Kumar |
6 |
3,268,638 |
25 |
6,064,291 |
13 |
1,933,269 |
Qiwei Zhu |
1 |
1,453,917 |
3 |
322,062 |
0 |
0 |
Sameer Iqbal |
0 |
0 |
1 |
77,503 |
23 |
39,279,900 |
High Yield Research Enhanced ETF | ||||||
James P. Shanahan |
16 |
10,512,805 |
21 |
4,059,261 |
24 |
2,425,144 |
Naveen Kumar |
6 |
1,866,202 |
25 |
6,064,291 |
13 |
1,933,269 |
Qiwei Zhu |
1 |
51,481 |
3 |
322,062 |
0 |
0 |
Alexander Sammarco |
8 |
1,880,818 |
7 |
1,259,710 |
17 |
1,074,003 |
Income ETF | ||||||
J. Andrew Norelli |
4 |
34,106,453 |
7 |
16,041,405 |
1 |
770,504 |
Andrew Headley |
30 |
23,897,384 |
35 |
27,162,352 |
8 |
2,999,489 |
Thomas Hauser |
18 |
43,555,086 |
10 |
28,870,704 |
33 |
6,784,099 |
International Bond Opportunities ETF | ||||||
Bob Michele |
2 |
4,861,234 |
12 |
18,774,401 |
3 |
2,703,281 |
Iain Stealey |
6 |
8,847,870 |
41 |
15,012,504 |
14 |
7,648,256 |
Lisa Coleman |
18 |
26,769,233 |
20 |
23,438,614 |
22 |
32,054,613 |
Peter Aspbury |
2 |
76,440 |
12 |
5,464,728 |
5 |
379,742 |
Municipal ETF | ||||||
Richard Taormina |
7 |
13,471,822 |
0 |
0 |
4 |
1,752,741 |
Michelle V. Hallam |
2 |
1,057,378 |
0 |
0 |
96 |
3,608,574 |
Kevin M. Ellis |
6 |
7,287,132 |
0 |
0 |
124 |
3,671,917 |
Michael R. Myers |
0 |
0 |
0 |
0 |
137 |
1,409,029 |
Short Duration Core Plus ETF | ||||||
Steven Lear |
17 |
79,527,712 |
5 |
15,886,520 |
14 |
1,871,625 |
Cary Fitzgerald |
2 |
20,164,024 |
9 |
8,521,829 |
88 |
35,886,013 |
U.S. Aggregate Bond ETF | ||||||
Eric Isenberg |
7 |
987,241 |
24 |
6,091,645 |
14 |
2,394,710 |
Niels Schuehle |
1 |
324,465 |
6 |
1,675,789 |
1 |
461,441 |
Naveen Kumar |
6 |
2,296,087 |
25 |
6,064,291 |
13 |
1,933,269 |
Jonathan Msika |
4 |
790,689 |
18 |
4,719,540 |
4 |
601,868 |
Behnood Noei |
4 |
790,689 |
15 |
4,805,873 |
3 |
569,033 |
Ultra-Short Income ETF | ||||||
James McNerny |
0 |
0 |
1 |
222,197 |
38 |
14,906,998 |
David Martucci |
6 |
12,985,166 |
4 |
3,195,438 |
71 |
26,069,940 |
Cecilia Junker |
0 |
0 |
0 |
0 |
50 |
19,970,539 |
Kyongsoo Noh |
6 |
12,985,166 |
4 |
3,195,438 |
35 |
12,412,087 |
|
Non-Performance Based Fee Advisory Accounts | |||||
|
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | |||
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) | |
Ultra-Short Municipal Income ETF | ||||||
Richard Taormina |
7 |
$10,455,071 |
0 |
$0 |
4 |
$1,752,741 |
Curtis White |
0 |
0 |
0 |
0 |
35 |
656,222 |
Josh Brunner |
0 |
0 |
0 |
0 |
55 |
568,747 |
USD Emerging Markets Sovereign Bond ETF | ||||||
Eric Isenberg |
8 |
2,011,273 |
23 |
5,619,691 |
14 |
2,394,710 |
Niels Schuehle |
2 |
1,348,497 |
5 |
1,203,836 |
1 |
461,441 |
Naveen Kumar |
7 |
3,320,119 |
24 |
5,592,337 |
13 |
1,933,269 |
|
Performance Based Fee Advisory Accounts | |||||
|
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | |||
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) | |
BetaBuilders 1-5 Year U.S. Aggregate Bond ETF | ||||||
Eric Isenberg |
0 |
$0 |
0 |
$0 |
1 |
$498 |
Naveen Kumar |
0 |
0 |
0 |
0 |
1 |
498 |
Behnood Noei |
0 |
0 |
0 |
0 |
1 |
498 |
Jonathan Msika |
0 |
0 |
0 |
0 |
1 |
498 |
Core Plus Bond ETF | ||||||
Steven Lear |
0 |
0 |
0 |
0 |
0 |
0 |
Richard Figuly |
0 |
0 |
0 |
0 |
1 |
1,332,900 |
J. Andrew Norelli |
0 |
0 |
0 |
0 |
0 |
0 |
Lisa Coleman |
0 |
0 |
0 |
0 |
1 |
286,017 |
Thomas Hauser |
1 |
40,206 |
0 |
0 |
0 |
0 |
Corporate Bond Research Enhanced ETF | ||||||
Lisa Coleman |
0 |
0 |
0 |
0 |
1 |
286,017 |
Lorenzo Napolitano |
0 |
0 |
0 |
0 |
1 |
286,017 |
Naveen Kumar |
0 |
0 |
0 |
0 |
1 |
498 |
Qiwei Zhu |
0 |
0 |
0 |
0 |
0 |
0 |
Sameer Iqbal |
0 |
0 |
0 |
0 |
0 |
0 |
High Yield Research Enhanced ETF | ||||||
James P. Shanahan |
0 |
0 |
0 |
0 |
1 |
423,592 |
Naveen Kumar |
0 |
0 |
0 |
0 |
1 |
498 |
Qiwei Zhu |
0 |
0 |
0 |
0 |
0 |
0 |
Alexander Sammarco |
0 |
0 |
0 |
0 |
0 |
0 |
Income ETF | ||||||
J. Andrew Norelli |
0 |
0 |
0 |
0 |
0 |
0 |
Andrew Headley |
0 |
0 |
0 |
0 |
1 |
249,316 |
Thomas Hauser |
1 |
40,206 |
0 |
0 |
0 |
0 |
International Bond Opportunities ETF | ||||||
Bob Michele |
0 |
0 |
0 |
0 |
0 |
0 |
Iain Stealey |
0 |
0 |
0 |
0 |
1 |
171,419 |
Lisa Coleman |
0 |
0 |
0 |
0 |
1 |
286,017 |
Peter Aspbury |
0 |
0 |
0 |
0 |
0 |
0 |
Municipal ETF | ||||||
Richard Taormina |
0 |
0 |
0 |
0 |
0 |
0 |
Michelle V. Hallam |
0 |
0 |
0 |
0 |
0 |
0 |
Kevin M. Ellis |
0 |
0 |
0 |
0 |
0 |
0 |
Michael R. Myers |
0 |
0 |
0 |
0 |
0 |
0 |
Short Duration Core Plus ETF | ||||||
Steven Lear |
0 |
0 |
0 |
0 |
0 |
0 |
Cary Fitzgerald |
0 |
0 |
0 |
0 |
1 |
348,101 |
U.S. Aggregate Bond ETF | ||||||
Eric Isenberg |
0 |
0 |
0 |
0 |
1 |
498 |
|
Performance Based Fee Advisory Accounts | |||||
|
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | |||
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) | |
Niels Schuehle |
0 |
$0 |
0 |
$0 |
0 |
$0 |
Naveen Kumar |
0 |
0 |
0 |
0 |
1 |
498 |
Jonathan Msika |
0 |
0 |
0 |
0 |
1 |
498 |
Behnood Noei |
0 |
0 |
0 |
0 |
1 |
498 |
Ultra-Short Income ETF | ||||||
James McNerny |
0 |
0 |
0 |
0 |
0 |
0 |
David Martucci |
0 |
0 |
0 |
0 |
0 |
0 |
Cecilia Junker |
0 |
0 |
0 |
0 |
0 |
0 |
Kyongsoo Noh |
0 |
0 |
0 |
0 |
0 |
0 |
Ultra-Short Municipal Income ETF | ||||||
Richard Taormina |
0 |
0 |
0 |
0 |
0 |
0 |
Curtis White |
0 |
0 |
0 |
0 |
0 |
0 |
Josh Brunner |
0 |
0 |
0 |
0 |
0 |
0 |
USD Emerging Markets Sovereign Bond ETF | ||||||
Eric Isenberg |
0 |
0 |
0 |
0 |
1 |
498 |
Niels Schuehle |
0 |
0 |
0 |
0 |
0 |
0 |
Naveen Kumar |
0 |
0 |
0 |
0 |
1 |
498 |
Fund |
Aggregate Dollar Range of Securities in the Fund | ||||||
None |
$1- $10,000 |
$10,001- $50,000 |
$50,001- $100,000 |
$100,001- $500,000 |
$500,001- $1,000,000 |
Over $1,000,000 | |
BetaBuilders 1-5 Year U.S. Aggregate Bond ETF | |||||||
Eric Isenberg |
X |
|
|
|
|
|
|
Naveen Kumar |
X |
|
|
|
|
|
|
Behnood Noei |
X |
|
|
|
|
|
|
Jonathan Msika |
X |
|
|
|
|
|
|
Core Plus Bond ETF | |||||||
Steven Lear |
|
|
|
|
|
|
X |
Richard Figuly |
X |
|
|
|
|
|
|
J. Andrew Norelli |
X |
|
|
|
|
|
|
Lisa Coleman |
X |
|
|
|
|
|
|
Thomas Hauser |
X |
|
|
|
|
|
|
Corporate Bond Research Enhanced ETF | |||||||
Lisa Coleman |
X |
|
|
|
|
|
|
Lorenzo Napolitano |
X |
|
|
|
|
|
|
Naveen Kumar |
X |
|
|
|
|
|
|
Qiwei Zhu |
X |
|
|
|
|
|
|
Sameer Iqbal |
|
X |
|
|
|
|
|
High Yield Research Enhanced ETF | |||||||
James P. Shanahan |
|
|
|
|
X |
|
|
Naveen Kumar |
X |
|
|
|
|
|
|
Qiwei Zhu |
X |
|
|
|
|
|
|
Alexander Sammarco |
X |
|
|
|
|
|
|
Income ETF | |||||||
J. Andrew Norelli |
|
|
|
X |
|
|
|
Andrew Headley |
|
X |
|
|
|
|
|
Thomas Hauser |
X |
|
|
|
|
|
|
Fund |
Aggregate Dollar Range of Securities in the Fund | ||||||
None |
$1- $10,000 |
$10,001- $50,000 |
$50,001- $100,000 |
$100,001- $500,000 |
$500,001- $1,000,000 |
Over $1,000,000 | |
International Bond Opportunities ETF | |||||||
Bob Michele |
X |
|
|
|
|
|
|
Iain Stealey |
X |
|
|
|
|
|
|
Lisa Coleman |
X |
|
|
|
|
|
|
Peter Aspbury |
X |
|
|
|
|
|
|
Municipal ETF | |||||||
Richard Taormina |
|
|
X |
|
|
|
|
Michelle V. Hallam |
X |
|
|
|
|
|
|
Kevin M. Ellis |
X |
|
|
|
|
|
|
Michael R. Myers |
X |
|
|
|
|
|
|
Short Duration Core Plus ETF | |||||||
Steven Lear |
|
|
|
|
|
|
X |
Cary Fitzgerald |
X |
|
|
|
|
|
|
U.S. Aggregate Bond ETF | |||||||
Eric Isenberg |
|
|
|
X |
|
|
|
Niels Schuehle |
X |
|
|
|
|
|
|
Naveen Kumar |
X |
|
|
|
|
|
|
Jonathan Msika |
X |
|
|
|
|
|
|
Behnood Noei |
X |
|
|
|
|
|
|
Ultra-Short Income ETF | |||||||
James McNerny |
|
|
|
|
X |
|
|
David Martucci |
|
|
|
|
X |
|
|
Cecilia Junker |
|
|
X |
|
|
|
|
Kyongsoo Noh |
X |
|
|
|
|
|
|
Ultra-Short Municipal Income ETF | |||||||
Richard Taormina |
X |
|
|
|
|
|
|
Curtis White |
|
X |
|
|
|
|
|
Josh Brunner |
X |
|
|
|
|
|
|
USD Emerging Markets Sovereign Bond ETF | |||||||
Eric Isenberg |
|
|
|
X |
|
|
|
Niels Schuehle |
X |
|
|
|
|
|
|
Naveen Kumar |
X |
|
|
|
|
|
|
Name of Fund |
Benchmark |
BetaBuilders 1-5 Year U.S. Aggregate Bond ETF |
Bloomberg Short-Term U.S. Aggregate Bond Index |
Core Plus Bond ETF |
Bloomberg U.S. Aggregate Bond Index |
Corporate Bond Research Enhanced ETF |
Bloomberg U.S. Corporate Bond Index |
High Yield Research Enhanced ETF |
Bloomberg U.S. Corporate High Yield — 2% Issuer Capped Index |
Income ETF |
Bloomberg U.S. Aggregate Index |
International Bond Opportunities ETF |
Bloomberg Multiverse ex USA (USD Hedged) Index |
Municipal ETF |
Bloomberg U.S. 1-15 Year Blend (1-17) Municipal Bond Index |
Short Duration Core Plus ETF |
Bloomberg 1-5 Year Government/Credit Index |
U.S. Aggregate Bond ETF |
Bloomberg U.S. Aggregate Index |
Ultra-Short Income ETF |
ICE BofAML U.S. 3-Month Treasury Bill Index |
Ultra-Short Municipal Income ETF |
Bloomberg 1-Year Municipal Bond Index |
USD Emerging Markets Sovereign Bond ETF |
JPMorgan Emerging Markets Risk-Aware Bond Index |
|
Fiscal Year Ended | ||
Fund |
February 29, 2020 |
February 28, 2021 |
February 28, 2022 |
BetaBuilders 1-5 Year U.S. Aggregate Bond ETF1 |
N/A |
$22,500 |
$22,500 |
Core Plus Bond ETF |
$13,824 |
22,500 |
22,500 |
Corporate Bond Research Enhanced ETF |
13,804 |
22,500 |
22,500 |
High Yield Research Enhanced ETF |
16,019 |
25,145 |
45,127 |
Income ETF2 |
N/A |
N/A |
7,742 |
International Bond Opportunities ETF |
16,490 |
22,500 |
22,500 |
Municipal ETF |
13,909 |
22,500 |
22,500 |
Short Duration Core Plus ETF3 |
N/A |
N/A |
22,500 |
U.S. Aggregate Bond ETF |
18,507 |
40,301 |
30,637 |
Ultra-Short Income ETF |
142,747 |
406,744 |
509,400 |
Ultra-Short Municipal Income ETF |
15,092 |
27,108 |
60,820 |
USD Emerging Markets Sovereign Bond ETF |
14,427 |
22,500 |
22,500 |
|
Betabuilders 1-5 Year U.S. Aggregate Bond ETF |
Short Duration Core Plus ETF |
U.S. Aggregate Bond ETF |
Ultra-Short Income ETF |
USD Emerging Markets Sovereign Bond ETF |
Gross Income from Securities Lending Activities1 |
$350 |
$1,023 |
$30,013 |
$113,572 |
$4,967 |
Fees and/or Compensation for Securities Lending Activities |
|
|
|
|
|
Revenue Split2 |
20 |
67 |
1,783 |
6,500 |
272 |
Cash Collateral Management Fees3 |
87 |
177 |
7,616 |
31,829 |
1,569 |
Administrative Fees |
— |
— |
— |
— |
— |
Indemnification Fees |
— |
— |
— |
— |
— |
Rebates to Borrowers |
(46) |
(87) |
(2,149) |
(9,199) |
(858) |
Others Fees |
— |
— |
— |
— |
— |
Aggregate Fees/Compensation for Securities Lending Activities |
62 |
156 |
7,250 |
29,130 |
983 |
Net Income from the Securities Lending Activities |
288 |
867 |
22,764 |
84,442 |
3,983 |
|
Fiscal Year Ended | ||
Fund |
February 29, 2020 |
February 28, 2021 |
February 28, 2022 |
BetaBuilders 1-5 Year U.S. Aggregate Bond ETF1 | |||
Total Brokerage Commissions |
$— |
$— |
$— |
Brokerage Commissions to Affiliated Broker/ Dealers |
— |
— |
— |
Core Plus Bond ETF | |||
Total Brokerage Commissions |
1,171 |
3,761 |
4,674 |
Brokerage Commissions to Affiliated Broker/ Dealers |
— |
— |
— |
Corporate Bond Research Enhanced ETF | |||
Total Brokerage Commissions |
660 |
886 |
897 |
Brokerage Commissions to Affiliated Broker/ Dealers |
— |
— |
— |
High Yield Research Enhanced ETF | |||
Total Brokerage Commissions |
— |
— |
— |
Brokerage Commissions to Affiliated Broker/ Dealers |
— |
— |
— |
Income ETF2 | |||
Total Brokerage Commissions |
N/A |
N/A |
5,890 |
Brokerage Commissions to Affiliated Broker/ Dealers |
N/A |
N/A |
— |
International Bond Opportunities ETF | |||
Total Brokerage Commissions |
15,471 |
10,825 |
8,703 |
Brokerage Commissions to Affiliated Broker/ Dealers |
— |
— |
— |
Municipal ETF | |||
Total Brokerage Commissions |
— |
— |
225 |
Brokerage Commissions to Affiliated Broker/ Dealers |
— |
— |
— |
Short Duration Core Plus ETF3 | |||
Total Brokerage Commissions |
N/A |
N/A |
4,547 |
Brokerage Commissions to Affiliated Broker/ Dealers |
N/A |
N/A |
— |
U.S. Aggregate Bond ETF | |||
Total Brokerage Commissions |
— |
— |
— |
Brokerage Commissions to Affiliated Broker/ Dealers |
— |
— |
— |
Ultra-Short Income ETF | |||
Total Brokerage Commissions |
7,279 |
127,287 |
132,438 |
Brokerage Commissions to Affiliated Broker/ Dealers |
— |
— |
— |
Ultra-Short Municipal Income ETF | |||
Total Brokerage Commissions |
— |
— |
— |
Brokerage Commissions to Affiliated Broker/ Dealers |
— |
— |
— |
|
Fiscal Year Ended | ||
Fund |
February 29, 2020 |
February 28, 2021 |
February 28, 2022 |
USD Emerging Markets Sovereign Bond ETF | |||
Total Brokerage Commissions |
$— |
$— |
$— |
Brokerage Commissions to Affiliated Broker/ Dealers |
— |
— |
— |
Fund Name |
Amount |
BetaBuilders 1-5 Year U.S. Aggregate Bond ETF |
$0 |
Core Plus Bond ETF |
0 |
Corporate Bond Research Enhanced ETF |
0 |
High Yield Research Enhanced ETF |
0 |
Income ETF |
0 |
International Bond Opportunities ETF |
0 |
Municipal ETF |
0 |
Short Duration Core Plus ETF |
0 |
U.S. Aggregate Bond ETF |
0 |
Ultra-Short Income ETF |
0 |
Ultra-Short Municipal Income ETF |
0 |
USD Emerging Markets Sovereign Bond ETF |
0 |
Fund |
Name of Broker-Dealer |
Value of Securities Owned* |
BetaBuilders 1-5 Year U.S. Aggregate Bond ETF |
Bank of America Corp. |
$281,135 |
|
Citigroup, Inc. |
137,596 |
|
Deutsche Bank AG |
26,688 |
|
Goldman Sachs Group, Inc. (The) |
194,844 |
|
Morgan Stanley |
309,054 |
|
Royal Bank of Canada |
11,053 |
|
The Toronto-Dominion Bank |
14,211 |
|
Wells Fargo & Co. |
129,902 |
Core Plus Bond ETF |
Bank of America Corp. |
3,100,128 |
|
Barclays plc |
612,279 |
|
Citigroup, Inc. |
1,799,038 |
|
Credit Suisse Securities (USA) LLC |
539,095 |
|
Deutsche Bank AG |
149,644 |
|
Goldman Sachs Group, Inc. (The) |
2,954,682 |
|
Morgan Stanley |
2,053,465 |
|
Royal Bank of Canada |
48,462 |
|
Wells Fargo & Co. |
1,374,124 |
Corporate Bond Research Enhanced ETF |
Bank of America Corp. |
2,058,799 |
|
Citigroup, Inc. |
1,599,395 |
|
Goldman Sachs Group, Inc. (The) |
1,330,143 |
|
Morgan Stanley |
961,295 |
Fund |
Name of Broker-Dealer |
Value of Securities Owned* |
Income ETF |
Bank of America Corp. |
$433,064 |
|
Citigroup, Inc. |
544,166 |
|
Goldman Sachs Group, Inc. (The) |
403,366 |
|
Morgan Stanley |
213,155 |
|
Wells Fargo & Co. |
240,625 |
International Bond Opportunities ETF |
Bank of America Corp. |
1,250,396 |
|
Barclays plc |
545,320 |
|
Citigroup, Inc. |
2,110,279 |
|
Deutsche Bank AG |
1,493,650 |
|
Goldman Sachs Group, Inc. (The) |
1,183,897 |
|
HSBC Holdings plc |
1,518,439 |
|
Morgan Stanley |
1,442,656 |
|
Standard Chartered plc |
938,475 |
|
UBS Group AG |
1,291,952 |
Short Duration Core Plus ETF |
Bank of America Corp. |
1,338,389 |
|
Barclays plc |
925,723 |
|
Citigroup, Inc. |
1,445,459 |
|
Credit Suisse Securities (USA) LLC |
879,949 |
|
Deutsche Bank AG |
600,192 |
|
Goldman Sachs Group, Inc. (The) |
2,285,572 |
|
HSBC Holdings plc |
1,672,870 |
|
Morgan Stanley |
826,938 |
|
Wells Fargo & Co. |
148,174 |
U.S. Aggregate Bond ETF |
Goldman Sachs Group, Inc. (The) |
6,035,910 |
|
Morgan Stanley |
5,616,411 |
Ultra-Short Income ETF |
Bank of America Corp. |
140,054,912 |
|
Barclays plc |
52,643,082 |
|
Citigroup, Inc. |
38,308,899 |
|
Goldman Sachs Group, Inc. (The) |
208,788,280 |
|
Mizuho Financial Group, Inc. |
204,996,926 |
|
Morgan Stanley |
169,489,888 |
|
Royal Bank of Canada |
368,305,966 |
|
Wells Fargo & Co. |
143,676,153 |
FUND |
CREATION* |
REDEMPTION* |
BetaBuilders 1-5 Year U.S. Aggregate Bond ETF |
25,000 |
25,000 |
Core Plus Bond ETF |
100,000 |
100,000 |
Corporate Bond Research Enhanced ETF |
25,000 |
25,000 |
High Yield Research Enhanced ETF |
100,000 |
100,000 |
Income ETF |
30,000 |
30,000 |
International Bond Opportunities ETF |
100,000 |
100,000 |
Municipal ETF |
50,000 |
50,000 |
Short Duration Core Plus ETF |
10,000 |
10,000 |
U.S. Aggregate Bond ETF |
25,000 |
25,000 |
Ultra-Short Income ETF |
50,000 |
50,000 |
FUND |
CREATION* |
REDEMPTION* |
Ultra-Short Municipal Income ETF |
50,000 |
50,000 |
USD Emerging Markets Sovereign Bond ETF |
100,000 |
100,000 |
|
Capital Loss Carryforward Character | |
Fund |
Short-Term |
Long-Term |
Core Plus Bond ETF |
$350,128 |
$— |
High Yield Research Enhanced ETF |
426,152 |
— |
International Bond Opportunities ETF |
1,249,981 |
2,372,743 |
U.S. Aggregate Bond ETF |
610,721 |
— |
Ultra-Short Municipal Income ETF |
121,390 |
14,525 |
USD Emerging Markets Sovereign Bond ETF |
1,970,006 |
1,974,142* |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
JPMORGAN BETABUILDERS 1-5 YEAR U.S. AGGREGATE BOND ETF | ||
|
J.P. MORGAN SECURITIES LLC* 383 MADISON AVE NEW YORK, NY 10017 |
57% |
|
|
|
|
CHARLES SCHWAB RETAIL 211 MAIN STREET SAN FRANCISCO, CA 94105 |
10% |
| ||
|
CHARLES SCHWAB & CO., INC. 211 MAIN STREET SAN FRANCISCO, CA 94105 |
8% |
|
|
|
|
LPL FINANCIAL LLC 4707 EXECUTIVE DRIVE SAN DIEGO, CA 92121 |
8% |
|
|
|
|
MERIT FINANCIAL ADVISORS 2400 LAKEVIEW PKWY ALPHARETTA, GA 30009 |
5% |
JPMORGAN CORE PLUS BOND ETF | ||
|
J.P. MORGAN SECURITIES LLC* 383 MADISON AVE NEW YORK, NY 10017 |
22% |
| ||
|
CHARLES SCHWAB RETAIL 211 MAIN STREET SAN FRANCISCO, CA 94105 |
14% |
| ||
|
PRESTIGE WEALTH MANAGEMENT GROUP, LLC 31 NJ-12 FLEMINTON, NJ 08822 |
7% |
|
|
|
|
D.B. ROOT & COMPANY, LLC 436 7TH AVE PITTSBURG, PA 15219 |
6% |
JPMORGAN CORPORATE BOND RESEARCH ENHANCED ETF | ||
|
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION* 383 MADISON AVE NEW YORK, NY 10017 |
50% |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
| ||
|
THE GOLDMAN SACHS TRUST COMPANY, NATIONAL ASSOCIATION 200 WEST STREET, NY 10282 |
19% |
| ||
|
FOLIO INVESTMENTS, INC. 8180 GREENSBORO DR MCLEAN, VA 22102 |
6% |
| ||
|
J.P. MORGAN SECURITIES LLC* 383 MADISON AVE NEW YORK, NY 10017 |
6% |
JPMORGAN HIGH YIELD RESEARCH ENHANCED ETF | ||
|
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION* 383 MADISON AVE NEW YORK, NY 10017 |
59% |
JPMORGAN INCOME ETF | ||
|
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION* 383 MADISON AVE NEW YORK, NY 10017 |
55% |
| ||
|
CAPITAL ADVISORS WEALTH MANAGEMENT 1106 N 35th AVE YAKIMA, WA 98902 |
11% |
| ||
|
FIDELITY BROKERAGE SERVICES LLC 245 SUMMER ST. BOSTON, MA 02210 |
6% |
| ||
|
CHARLES SCHWAB RETAIL 211 MAIN STREET SAN FRANCISCO, CA 94105 |
5% |
JPMORGAN INTERNATIONAL BOND OPPORTUNITIES ETF | ||
|
CHARLES SCHWAB RETAIL 211 MAIN STREET SAN FRANCISCO, CA 94105 |
21% |
|
|
|
|
ONEDIGITAL INVESTMENT ADVISORS 11101 SWITZER ROAD OVERLAND PARK, KS 66210 |
10% |
|
|
|
|
SUNFLOWER BANK, NATIONAL ASSOCIATION 1400 16TH ST., SUITE 250 DENVER, CO 80202 |
7% |
|
|
|
|
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED 1 BRYANT PARK NEW YORK, NY 10036 |
6% |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
JPMORGAN MUNICIPAL ETF | ||
|
FIDELITY BROKERAGE SERVICES LLC 245 SUMMER ST. BOSTON, MA 02210 |
20% |
|
|
|
|
AVANTAX PLANNING PARTNERS, INC. 3390 ASBURY RD DUBUQUE, IA 52002 |
10% |
|
|
|
|
LPL FINANCIAL LLC 4707 EXECUTIVE DRIVE SAN DIEGO, CA 92121 |
8% |
|
|
|
|
FIRST REPUBLIC SECURITIES COMPANY, LLC 111 PINE ST SAN FRANCISCO, CA 94111 |
5% |
JPMORGAN SHORT DURATION CORE PLUS ETF | ||
|
EP WEALTH ADVISORS 1990 N CALIFORNIA BLVD WLANUT CREEK, 94596 |
12% |
|
|
|
|
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION* 383 MADISON AVE NEW YORK, NY 10017 |
11% |
|
|
|
|
CHARLES SCHWAB RETAIL 211 MAIN STREET SAN FRANCISCO, CA 94105 |
10% |
|
|
|
|
WELLS FARGO CLEARING SERVICES, LLC 10000 SAGEMORE DR MARLTON, NJ 08053 |
8% |
|
|
|
|
FIDELITY BROKERAGE SERVICES LLC 245 SUMMER ST. BOSTON, MA 02210 |
7% |
|
|
|
|
TOBIAS FINANCIAL ADVISORS 1000 S PINE ISLAND RD PLANTATION, FL 33324 |
5% |
|
|
|
|
MARIN WEALTH ADVISORS LLC 899 NORTHGATE DR SAN RAFAEL, CA 94903 |
5% |
|
|
|
|
J.P. MORGAN SECURITIES LLC* 383 MADISON AVE NEW YORK, NY 10017 |
5% |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
JPMORGAN U.S. AGGREGATE BOND ETF | ||
|
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION* 383 MADISON AVE NEW YORK, NY 10017 |
48% |
|
|
|
|
J.P. MORGAN SECURITIES LLC* 383 MADISON AVE NEW YORK, NY 10017 |
14% |
|
|
|
|
THE BANK OF NEW YORK MELLON 240 GREENWICH STREET NEW YORK, NY 10286 |
6% |
|
|
|
|
CHARLES SCHWAB RETAIL 211 MAIN STREET SAN FRANCISCO, CA 94105 |
5% |
JPMORGAN ULTRA-SHORT INCOME ETF | ||
|
MORGAN STANLEY SMITH BARNEY LLC 1585 BROADWAY NEW YORK, NY 10036 |
11% |
|
|
|
|
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED 1 BRYANT PARK NEW YORK, NY 10036 |
7% |
|
|
|
|
FIDELITY BROKERAGE SERVICES LLC 245 SUMMER ST. BOSTON, MA 02210 |
7% |
| ||
|
CHARLES SCHWAB RETAIL 211 MAIN STREET SAN FRANCISCO, CA 94105 |
6% |
JPMORGAN ULTRA-SHORT MUNICIPAL INCOME ETF | ||
|
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED 1 BRYANT PARK NEW YORK, NY 10036 |
33% |
|
|
|
|
CHARLES SCHWAB RETAIL 211 MAIN STREET SAN FRANCISCO, CA 94105 |
10% |
|
|
|
|
J.P. MORGAN SECURITIES LLC* 383 MADISON AVE NEW YORK, NY 10017 |
7% |
| ||
|
FIDELITY BROKERAGE SERVICES LLC 245 SUMMER ST. BOSTON, MA 02210 |
5% |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
JPMORGAN USD EMERGING MARKETS SOVEREIGN BOND ETF | ||
|
THE NORTHERN TRUST COMPANY 50 SOUTH LASALLE STREET CHICAGO, IL 60609 |
61% |
|
|
|
|
J.P. MORGAN SECURITIES LLC* 383 MADISON AVE NEW YORK, NY 10017 |
6% |
| ||
|
CHARLES SCHWAB RETAIL 211 MAIN STREET SAN FRANCISCO, CA 94105 |
6% |
Fund Name |
Ticker |
Listing Exchange |
JPMorgan Inflation Managed Bond ETF (the “Inflation Managed Bond ETF” or the “Fund”) |
JCPI |
Cboe BZX Exchange, Inc. |
1 | |
1 | |
1 | |
1 | |
3 | |
3 | |
3 | |
7 | |
7 | |
7 | |
8 | |
8 | |
8 | |
9 | |
10 | |
11 | |
11 | |
11 | |
11 | |
12 | |
12 | |
13 | |
13 | |
13 | |
13 | |
13 | |
13 | |
13 | |
14 | |
14 | |
14 | |
14 | |
14 | |
15 | |
15 | |
15 | |
15 | |
15 | |
15 |
Instrument |
Part II Section Reference |
Adjustable Rate Mortgage Loans (“ARMs”): Loans in a mortgage pool which provide for a fixed initial mortgage interest rate for a specified period of time, after which the rate may be subject to periodic adjustments. |
Mortgage-Related Securities |
Asset-Backed Securities: Securities secured by company receivables, home equity loans, truck and auto loans, leases, and credit card receivables or other securities backed by other types of receivables or other assets. and pools of loans, such as collateralized loan obligations. |
Asset-Backed Securities |
Instrument |
Part II Section Reference |
Bank Obligations: Bankers’ acceptances, certificates of deposit and time deposits. Bankers’ acceptances are bills of exchange or time drafts drawn on and accepted by a commercial bank. Maturities are generally six months or less. Certificates of deposit are negotiable certificates issued by a bank for a specified period of time and earning a specified return. Time deposits are non-negotiable receipts issued by a bank in exchange for the deposit of funds. |
Bank Obligations |
Borrowings: The Fund may borrow for temporary purposes and/or for investment purposes. Such a practice will result in leveraging of the Fund’s assets and may cause the Fund to liquidate portfolio positions when it would not be advantageous to do so. The Fund must maintain continuous asset coverage of 300% of the amount borrowed, with the exception for borrowings not in excess of 5% of the Fund’s total assets made for temporary administrative purposes. |
Miscellaneous Investment Strategies and Risks |
Call and Put Options: A call option gives the buyer the right to buy, and obligates the seller of the option to sell, a security at a specified price at a future date. A put option gives the buyer the right to sell, and obligates the seller of the option to buy, a security at a specified price at a future date. |
Options and Futures Transactions |
Commercial Paper: Secured and unsecured short-term promissory notes issued by corporations and other entities. Maturities generally vary from a few days to nine months |
Commercial Paper |
Convertible Securities: Bonds or preferred stock that can convert to common stock. |
Convertible Securities |
Corporate Debt Securities: May include bonds and other debt securities of domestic and foreign issuers, including obligations of industrial, utility, banking and other corporate issuers. |
Debt Instruments |
Credit Default Swaps (“CDSs”): A swap agreement between two parties pursuant to which one party pays the other a fixed periodic coupon for the specified life of the agreement. The other party makes no payment unless a credit event, relating to a predetermined reference asset, occurs. If such an event occurs, the party will then make a payment to the first party, and the swap will terminate. |
Swaps and Related Swap Products |
Custodial Receipts: The Fund may acquire securities in the form of custodial receipts that evidence ownership of future interest payments, principal payments or both on certain U.S. Treasury notes or bonds in connection with programs sponsored by banks and brokerage firms. These are not considered to be U.S. government securities. These notes and bonds are held in custody by a bank on behalf of the owners of the receipts. |
Custodial Receipts |
Demand Features: Securities that are subject to puts and standby commitments to purchase the securities at a fixed price (usually with accrued interest) within a fixed period of time following demand by the Fund. |
Demand Features |
Emerging Market Securities: Securities issued by issuers or governments in countries with emerging economies or securities markets which may be undergoing significant evolution and rapid development. |
Foreign Investments (including Foreign Currencies) |
Exchange-Traded Funds (“ETFs”): Ownership interest in unit investment trusts, depositary receipts, and other pooled investment vehicles that hold a portfolio of securities or stocks designed to track the price performance and dividend yield of a particular broad-based, sector or international index. ETFs include a wide range of investments. |
Investment Company Securities and Exchange- Traded Funds |
Foreign Investments: Equity and debt securities (e.g., bonds and commercial paper) of foreign entities and obligations of foreign branches of U.S. banks and foreign banks. Foreign securities may also include American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”), European Depositary Receipts (“EDRs”) and American Depositary Securities (“ADSs”). |
Foreign Investments (including Foreign Currencies) |
Instrument |
Part II Section Reference |
High Yield/High Risk Securities/Junk Bonds: Securities that are generally rated below investment grade by the primary rating agencies or are unrated but are deemed by the Fund’s adviser to be of comparable quality. |
Debt Instruments |
Inflation-Linked Debt Securities: Includes fixed and floating rate debt securities of varying maturities issued by the U.S. government as well as securities issued by other entities such as corporations, foreign governments and foreign issuers. |
Debt Instruments |
Inverse Floating Rate Instruments: Leveraged variable debt instruments with interest rates that reset in the opposite direction from the market rate of interest to which the inverse floater is indexed. |
Inverse Floaters and Interest Rate Caps |
Investment Company Securities: Shares of other investment companies, including money market funds for which the Adviser and/or its affiliates serve as investment adviser or administrator. The Adviser will waive certain fees when investing in funds for which it serves as investment adviser, to the extent required by law or by contract. |
Investment Company Securities and Exchange- Traded Funds |
Mortgages (Directly Held): Debt instruments secured by real property. |
Mortgage-Related Securities |
Mortgage-Backed Securities: Debt obligations secured by real estate loans and pools of loans. |
Mortgage-Related Securities |
Mortgage Dollar Rolls: A transaction in which the Fund sells securities for delivery in a current month and simultaneously contracts with the same party to repurchase similar but not identical securities on a specified future date. |
Mortgage-Related Securities |
Municipal Securities: Securities issued by a state or political subdivision (including securities issued by a foreign state or subdivision) to obtain funds for various public purposes. Municipal securities include, among others, private activity bonds and industrial development bonds, as well as general obligation notes, tax anticipation notes, bond anticipation notes, revenue anticipation notes, other short-term tax-exempt obligations, municipal leases, obligations of municipal housing authorities and single family revenue bonds. |
Municipal Securities |
New Financial Products: New options and futures contracts and other financial products continue to be developed and the Fund may invest in such options, contracts and products. |
Miscellaneous Investment Strategies and Risks |
Options and Futures Transactions: The Fund may purchase and sell (a) exchange traded and over-the-counter put and call options on securities, indexes of securities and futures contracts on securities and indexes of securities and (b) futures contracts on securities and indexes of securities. |
Options and Futures Transactions |
Private Placements, Restricted Securities and Other Unregistered Securities: Securities not registered under the Securities Act of 1933, such as privately placed commercial paper and Rule 144A securities. |
Miscellaneous Investment Strategies and Risks |
Real Estate Investment Trusts (“REITs”): Pooled investment vehicles which invest primarily in income producing real estate or real estate related loans or interest. |
Real Estate Investment Trusts |
Repurchase Agreements: The purchase of a security and the simultaneous commitment to return the security to the seller at an agreed upon price on an agreed upon date. This is treated as a loan. |
Repurchase Agreements |
Reverse Repurchase Agreements: The sale of a security and the simultaneous commitment to buy the security back at an agreed upon price on an agreed upon date. This is treated as a borrowing by the Fund. |
Reverse Repurchase Agreements |
Securities Issued in Connection with Reorganizations and Corporate Restructurings: In connection with reorganizing or restructuring of an issuer, an issuer may issue common stock or other securities to holders of its debt securities. |
Miscellaneous Investment Strategies and Risks |
Securities Lending: The lending of up to 33 1∕3% of the Fund’s total assets. In return the Fund will receive cash as collateral. |
Securities Lending |
Instrument |
Part II Section Reference |
Short-Term Funding Agreements: Agreements issued by banks and highly rated U.S. insurance companies such as Guaranteed Investment Contracts (“GICs”) and Bank Investment Contracts (“BICs”). |
Short-Term Funding Agreements |
Sovereign Obligations: Investments in debt obligations issued or guaranteed by a foreign sovereign government or its agencies, authorities or political subdivisions. |
Foreign Investments (including Foreign Currencies) |
Stripped Mortgage-Backed Securities: Derivative multi-class mortgage securities which are usually structured with two classes of shares that receive different proportions of the interest and principal from a pool of mortgage assets. These include Interest-Only (“IO”) and Principal-Only (“PO”) securities issued outside a Real Estate Mortgage Investment Conduit (“REMIC”) or CMO structure. |
Mortgage-Related Securities |
Structured Investments: A security having a return tied to an underlying index or other security or asset class. Structured investments generally are individually negotiated agreements and may be traded over-the-counter. Structured investments are organized and operated to restructure the investment characteristics of the underlying index, currency, commodity or financial instrument. |
Structured Investments |
Swaps and Related Swap Products: Swaps involve an exchange of obligations by two parties. Caps and floors entitle a purchaser to a principal amount from the seller of the cap or floor to the extent that a specified index exceeds or falls below a predetermined interest rate or amount. The Fund may enter into these transactions to manage its exposure to changing interest rates and other factors. |
Swaps and Related Swap Products |
Temporary Defensive Positions: To respond to unusual circumstances the Fund may invest a portion of its total assets in cash and cash equivalents for temporary defensive purposes. |
Miscellaneous Investment Strategies and Risks |
Treasury Receipts: The Fund may purchase interests in separately traded interest and principal component parts of U.S. Treasury obligations that are issued by banks or brokerage firms and that are created by depositing U.S. Treasury notes and U.S. Treasury bonds into a special account at a custodian bank. Receipts include Treasury Receipts (TRs), Treasury Investment Growth Receipts (TIGRs), and Certificates of Accrual on Treasury Securities (CATS). |
Treasury Receipts |
Trust Preferred: Securities with characteristics of both subordinated debt and preferred stock. Trust preferreds are generally long term securities that make periodic fixed or variable interest payments. |
Trust Preferred |
U.S. Government Agency Securities: Securities issued or guaranteed by agencies and instrumentalities of the U.S. government. These include all types of securities issued by the Government National Mortgage Association (“Ginnie Mae”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”), including funding notes, subordinated benchmark notes, CMOs and REMICs. |
U.S. Government Obligations |
U.S. Government Obligations: May include direct obligations of the U.S. Treasury, including Treasury bills, notes and bonds, all of which are backed as to principal and interest payments by the full faith and credit of the United States, and separately traded principal and interest component parts of such obligations that are transferable through the Federal book-entry system known as Separate Trading of Registered Interest and Principal of Securities (“STRIPS”) and Coupons Under Book Entry Safekeeping (“CUBES”). |
U.S. Government Obligations |
Variable and Floating Rate Instruments: Obligations with interest rates which are reset daily, weekly, quarterly or some other frequency and which may be payable to the Fund on demand or at the expiration of a specified term. |
Debt Instruments |
Instrument |
Part II Section Reference |
When-Issued Securities, Delayed Delivery Securities and Forward Commitments: Purchase or contract to purchase securities at a fixed price for delivery at a future date. |
When-Issued Securities, Delayed Delivery Securities and Forward Commitments |
Zero-Coupon, Pay-in-Kind and Deferred Payment Securities: Zero-coupon securities are securities that are sold at a discount to par value and on which interest payments are not made during the life of the security. Pay-in-kind securities are securities that have interest payable by delivery of additional securities. Deferred payment securities are zero-coupon debt securities which convert on a specified date to interest bearing debt securities. |
Debt Instruments |
|
Fiscal Year Ended February 28, | |
Fund |
2021 |
2022 |
Inflation Managed Bond ETF |
89% |
159% |
Committee |
Fiscal Year Ended February 28, 2022 |
Audit and Valuation Committee |
5 |
Compliance Committee* |
3 |
Governance and Nominating Committee** |
3 |
Governance Committee* |
1 |
Equity Committee* |
1 |
ETF Committee* |
1 |
Fixed Income Committee* |
1 |
Money Market and Alternative Products Committee* |
1 |
Oversight Committee for Insurance and Performance Reports** |
2 |
Name of Trustee |
Dollar Range of Equity Securities in Inflation Managed Bond ETF |
Aggregate Dollar Range of Equity Securities in All Registered Investment Companies Overseen by the Trustee in Family of Investment Companies1,2 |
Independent Trustees |
|
|
John F. Finn3 |
None |
Over $100,000 |
Stephen P. Fisher3 |
None |
Over $100,000 |
Gary L. French |
None |
Over $100,000 |
Kathleen M. Gallagher |
None |
Over $100,000 |
Robert J. Grassi |
None |
Over $100,000 |
Frankie D. Hughes |
None |
Over $100,000 |
Name of Trustee |
Dollar Range of Equity Securities in Inflation Managed Bond ETF |
Aggregate Dollar Range of Equity Securities in All Registered Investment Companies Overseen by the Trustee in Family of Investment Companies1,2 |
Raymond Kanner3 |
None |
Over $100,000 |
Thomas P. Lemke |
None |
Over $100,000 |
Lawrence R. Maffia |
None |
Over $100,000 |
Mary E. Martinez |
None |
Over $100,000 |
Marilyn McCoy3 |
None |
Over $100,000 |
Dr. Robert A. Oden, Jr. |
None |
Over $100,000 |
Marian U. Pardo3 |
None |
Over $100,000 |
Emily A. Youssouf |
None |
$10,001– $50,000 |
Interested Trustees |
|
|
Robert Deutsch |
None |
Over $100,000 |
Nina O. Shenker3 |
None |
None |
Name of Trustee |
Inflation Managed Bond ETF* |
Total Compensation Paid From Fund Complex1 |
Independent Trustees |
|
|
John F. Finn |
$2,775 |
$620,000 |
Stephen P. Fisher |
2,521 |
445,0002 |
Gary L. French3 |
0 |
157,500 |
Name of Trustee |
Inflation Managed Bond ETF* |
Total Compensation Paid From Fund Complex1 |
Kathleen M. Gallagher |
$2,502 |
$432,5004 |
Robert J. Grassi3 |
0 |
156,000 |
Frankie D. Hughes |
2,448 |
395,000 |
Raymond Kanner |
2,521 |
445,0002 |
Thomas P. Lemke3 |
0 |
158,000 |
Lawrence R. Maffia3 |
0 |
156,000 |
Mary E. Martinez |
2,629 |
520,000 |
Marilyn McCoy |
2,448 |
395,0005 |
Dr. Robert A. Oden, Jr. |
2,521 |
445,000 |
Marian U. Pardo |
2,521 |
445,000 |
Emily A. Youssouf3 |
0 |
156,000 |
Interested Trustees |
|
|
Robert Deutsch3 |
0 |
150,000 |
Nina O. Shenker3 |
0 |
0 |
|
Fiscal Year Ended | |||||
|
February 29, 2020 |
February 28, 2021 |
February 28, 2022 | |||
Fund |
Paid |
Waived |
Paid |
Waived |
Paid |
Waived |
Inflation Managed Bond ETF |
$3,180 |
$(190) |
$3,286 |
$(334) |
$3,410 |
$(384) |
|
Non-Performance Based Fee Advisory Accounts | |||||
|
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | |||
|
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) |
Inflation Managed Bond ETF |
|
|
|
|
|
|
Scott F. Grimshaw |
3 |
$1,456,687 |
2 |
$1,110,009 |
16 |
$3,671,193 |
Steven Lear |
18 |
79,720,227 |
5 |
15,886,520 |
14 |
1,871,625 |
David Rooney |
6 |
3,198,176 |
1 |
729,999 |
1 |
988,513 |
|
Performance Based Fee Advisory Accounts | |||||
|
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | |||
|
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) |
Inflation Managed Bond ETF |
|
|
|
|
|
|
Scott F. Grimshaw |
0 |
$0 |
0 |
$0 |
0 |
$0 |
Steven Lear |
0 |
0 |
0 |
0 |
0 |
0 |
David Rooney |
0 |
0 |
0 |
0 |
1 |
90,211 |
Fund |
Aggregate Dollar Range of Securities in the Fund | ||||||
None |
$1- $10,000 |
$10,001- $50,000 |
$50,001- $100,000 |
$100,001- $500,000 |
$500,001- $1,000,000 |
Over $1,000,000 | |
Inflation Managed Bond ETF | |||||||
Scott F. Grimshaw |
X |
|
|
|
|
|
|
Steven Lear |
|
|
|
|
|
|
X |
David Rooney |
|
|
|
X |
|
|
|
Name of Fund |
Benchmark |
Inflation Managed Bond ETF |
Bloomberg 1-10 Year TIPS |
|
Fiscal Year Ended | |||||
|
February 29, 2020 |
February 28, 2021 |
February 28, 2022 | |||
Fund |
Paid |
Waived |
Paid |
Waived |
Paid |
Waived |
Inflation Managed Bond ETF |
$697 |
$(103) |
$799 |
$(171) |
$812 |
$(204) |
|
Fiscal Year Ended | ||
Fund |
February 29, 2020 |
February 28, 2021 |
February 28, 2022 |
Inflation Managed Bond ETF |
$41 |
$34 |
$33 |
|
Fiscal Year Ended | ||
Fund |
February 29, 2020 |
February 28, 2021 |
February 28, 2022 |
Inflation Managed Bond ETF | |||
Total Brokerage Commissions |
$81,346 |
$41,839 |
$88,319 |
Brokerage Commissions to Affiliated Broker/ Dealers |
— |
— |
— |
Fund |
Name of Broker-Dealer |
Value of Securities Owned (000's) * |
Inflation Managed Bond ETF |
Bank of America Corp. |
$11,892 |
|
Barclays plc |
1,800 |
|
Charles Schwab Corp. (The) |
259 |
|
Citigroup, Inc. |
7,201 |
|
Credit Agricole SA |
2,282 |
|
Deutsche Bank AG |
1,936 |
|
Goldman Sachs Group, Inc. (The) |
7,412 |
|
HSBC Holdings plc |
5,153 |
|
Morgan Stanley |
8,504 |
|
Nomura Holdings, Inc. |
1,395 |
|
TD Ameritrade Holding Corp. |
219 |
|
UBS Group AG |
1,863 |
|
Wells Fargo & Co. |
2,820 |
Fund |
Creation* |
Redemption* |
Inflation Managed Bond ETF |
50,000 |
50,000 |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
JPMORGAN INFLATION MANAGED BOND ETF | ||
|
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION* 383 MADISON AVENUE NEW YORK, NY 10017 |
68% |
|
|
|
|
THE BANK OF NEW YORK MELLON 240 GREENWICH STREET NEW YORK, NY 10286 |
7% |
|
|
|
|
EDWARD JONES 12555 MANCHESTER ROAD SAINT LOUIS, MO 63131 |
6% |
Fund Name |
Ticker |
Listing Exchange |
JPMorgan Realty Income ETF (the “Realty Income ETF” or the “Fund”) |
JPRE |
NYSE Arca |
1 | |
1 | |
1 | |
1 | |
2 | |
3 | |
6 | |
6 | |
6 | |
7 | |
7 | |
7 | |
8 | |
9 | |
10 | |
10 | |
10 | |
10 | |
11 | |
11 | |
11 | |
12 | |
12 | |
12 | |
12 | |
12 | |
13 | |
13 | |
13 | |
13 | |
13 | |
13 | |
13 | |
13 | |
14 | |
14 | |
14 | |
17 |
Instrument |
Part II Section Reference |
Adjustable Rate Mortgage Loans (“ARMs”)*: Loans in a mortgage pool which provide for a fixed initial mortgage interest rate for a specified period of time, after which the rate may be subject to periodic adjustments. |
Mortgage-Related Securities |
Asset-Backed Securities*: Securities secured by company receivables, home equity loans, truck and auto loans, leases, and credit card receivables and other securities backed by other types of receivables or other assets. |
Asset-Backed Securities |
Auction Rate Securities*: Auction rate municipal securities and auction rate preferred securities issued by closed-end investment companies. |
Auction Rate Securities |
Bank Obligations*: Bankers’ acceptances, certificates of deposit and time deposits. Bankers’ acceptances are bills of exchange or time drafts drawn on and accepted by a commercial bank. Maturities are generally six months or less. Certificates of deposit are negotiable certificates issued by a bank for a specified period of time and earning a specified return. Time deposits are non-negotiable receipts issued by a bank in exchange for the deposit of funds. |
Bank Obligations |
Borrowings: The Fund may borrow for temporary purposes and/or for investment purposes. Such a practice will result in leveraging the Fund’s assets and may cause the Fund to liquidate portfolio positions when it would not be advantageous to do so. The Fund must maintain continuous asset coverage of 300% of the amount borrowed, with the exception for borrowings not in excess of 5% of the Fund’s total assets made for temporary administrative purposes. |
Miscellaneous Investment Strategies and Risks |
Call and Put Options: A call option gives the buyer the right to buy, and obligates the seller of the option to sell, a security at a specified price at a future date. A put option gives the buyer the right to sell, and obligates the seller of the option to buy, a security at a specified price at a future date. The Fund will sell only covered call and secured put options. |
Options and Futures Transactions |
Commercial Paper: Secured and unsecured short-term promissory notes issued by corporations and other entities. Maturities generally vary from a few days to nine months. |
Commercial Paper |
Commodity-Linked Derivatives*: Instruments whose value derives from the price of a commodity, including commodity futures and commodity options. |
Miscellaneous Investment Strategies and Risks |
Common Stock: Shares of ownership of a company. |
Equity Securities, Warrants and Rights |
Common Stock Warrants and Rights: Securities, typically issued with preferred stock or bonds, that give the holder the right to buy a proportionate amount of common stock at a specified price. |
Equity Securities, Warrants and Rights |
Convertible Securities: Bonds or preferred stock that can convert to common stock including contingent convertible securities. |
Convertible Securities |
Instrument |
Part II Section Reference |
Corporate Debt Securities*: May include bonds and other debt securities of domestic and foreign issuers, including obligations of industrial, utility, banking and other corporate issuers. |
Debt Securities |
Emerging Market Securities*: Securities issued by issuers or governments in countries with emerging economies or securities markets which may be undergoing significant evolution and rapid development. |
Foreign Investments (including Foreign Currencies) |
Exchange-Traded Funds (“ETFs”): Ownership interest in unit investment trusts, depositary receipts, and other pooled investment vehicles that hold a portfolio of securities or stocks designed to track the price performance and dividend yield of a particular broad-based, sector or international index. ETFs include a wide range of investments. |
Investment Company Securities and Exchange-Traded Funds |
Foreign Currency Transactions: Strategies used to hedge against currency risks, for other risk management purposes or to increase income or gain to the Fund. These strategies may consist of use of any of the following: options on currencies, currency futures, options on such futures, forward foreign currency transactions (including non-deliverable forwards (“NDFs”)), forward rate agreements and currency swaps, caps and floors. Certain Funds may engage in such transactions in both U.S. and non-U.S. markets. |
Foreign Investments (including Foreign Currencies) |
Foreign Investments: Equity and debt securities (e.g., bonds and commercial paper) of foreign entities and obligations of foreign branches of U.S. banks and foreign banks. Foreign securities may also include American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”), European Depositary Receipts (“EDRs”) and American Depositary Securities. |
Foreign Investments (including Foreign Currencies) |
High Yield/High Risk Securities/Junk Bonds*: Securities that are generally rated below investment grade by the primary rating agencies or are unrated but deemed by the Fund’s adviser to be of comparable quality. |
Debt Securities |
Inflation-Linked Debt Securities*: Includes fixed and floating rate debt securities of varying maturities issued by the U.S. government as well as securities issued by other entities such as corporations, foreign governments and foreign issuers. |
Debt Securities |
Initial Public Offerings (“IPOs”): A transaction in which a previously private company makes its first sale of stock to the public. |
Equity Securities, Warrants and Rights |
Investment Company Securities: Shares of other investment companies, including money market funds for which the adviser and/or its affiliates serve as investment adviser or administrator. The adviser will waive certain fees when investing in funds for which it serves as investment adviser, to the extent required by law or by contract. |
Investment Company Securities and Exchange- Traded Funds |
Loan Assignments and Participations*: Assignments of, or participations in, all or a portion of loans to corporations or to governments, including governments in less developed countries. |
Loans |
Master Limited Partnerships (“MLPs”)*: Limited partnerships that are publicly traded on a securities exchange. |
Master Limited Partnerships |
Mortgages (Directly Held)*: Debt instruments secured by real property. |
Mortgage-Related Securities |
Mortgage-Backed Securities*: Debt obligations secured by real estate loans and pools of loans such as collateralized mortgage obligations (“CMOs”), commercial mortgage-backed securities (“CMBSs”), and other asset-backed structures. |
Mortgage-Related Securities |
Mortgage Dollar Rolls*: A transaction in which the Fund sells securities for delivery in a current month and simultaneously contracts with the same party to repurchase similar but not identical securities on a specified future date. |
Mortgage-Related Securities |
New Financial Products: New options and futures contracts and other financial products continue to be developed and the Fund may invest in such options, contracts and products. |
Miscellaneous Investment Strategies and Risks |
Instrument |
Part II Section Reference |
Options and Futures Transactions: The Fund may purchase and sell (a) exchange traded and over-the-counter put and call options on securities, indexes of securities and futures contracts on securities and indexes of securities, and (b) futures contracts on securities and indexes of securities. |
Options and Futures Transactions |
Preferred Stock: A class of stock that generally pays a dividend at a specified rate and has preference over common stock in the payment of dividends and in liquidation. |
Equity Securities, Warrants and Rights |
Private Placements, Restricted Securities and Other Unregistered Securities: Securities not registered under the Securities Act of 1933, such as privately placed commercial paper and Rule 144A securities. |
Miscellaneous Investment Strategies and Risks |
Real Estate Investment Trusts (“REITs”): Pooled investment vehicles which invest primarily in income producing real estate or real estate related loans or interest. |
Real Estate Investment Trusts |
Repurchase Agreements: The purchase of a security and the simultaneous commitment to return the security to the seller at an agreed upon price on an agreed upon date. This is treated as a loan. |
Repurchase Agreements |
Reverse Repurchase Agreements*: The sale of a security and the simultaneous commitment to buy the security back at an agreed upon price on an agreed upon date. This is treated as a borrowing by the Fund. |
Reverse Repurchase Agreements |
Securities Lending: The lending of up to 33 1∕3% of the Fund’s total assets. In return, the Fund will receive cash, other securities, and/or letters of credit as collateral. |
Securities Lending |
Short Selling: The Fund sells a security it does not own in anticipation of a decline in the market value of the security. To complete the transaction, the Fund must borrow the security to make delivery to the buyer. The Fund is obligated to replace the security borrowed by purchasing it subsequently at the market price at the time of replacement. |
Short Selling |
Sovereign Obligations: Investments in debt obligations issued or guaranteed by a foreign sovereign government or its agencies, authorities or political subdivisions. |
Foreign Investments (including Foreign Currencies) |
Stripped Mortgage-Backed Securities*: Derivative multi-class mortgage securities which are usually structured with two classes of shares that receive different proportions of the interest and principal from a pool of mortgage assets. These include Interest- Only (“IO”) and Principal-Only (“PO”) securities issued outside a Real Estate Mortgage Investment Conduit (“REMIC”) or CMO structure. |
Mortgage-Related Securities |
Structured Investments: A security having a return tied to an underlying index or other security or asset class. Structured investments generally are individually negotiated agreements and may be traded over-the-counter. Structured investments are organized and operated to restructure the investment characteristics of the underlying index, commodity, currency or financial instrument. |
Structured Investments |
Swaps and Related Swap Products: Swaps involve an exchange of obligations by two parties. Caps and floors entitle a purchaser to a principal amount from the seller of the cap or floor to the extent that a specified index exceeds or falls below a predetermined interest rate or amount. The Fund may enter into these transactions to manage its exposure to changing interest rates and other factors. |
Swaps and Related Swap Products |
Temporary Defensive Positions: To respond to unusual circumstances, the Fund may invest in cash and cash equivalents for temporary defensive purposes. |
Miscellaneous Investment Strategies and Risks |
Instrument |
Part II Section Reference |
Treasury Receipts: The Fund may purchase interests in separately traded interest and principal component parts of U.S. Treasury obligations that are issued by banks or brokerage firms and that are created by depositing U.S. Treasury notes and U.S. Treasury bonds into a special account at a custodian bank. Receipts include Treasury Receipts (“TRs”), Treasury Investment Growth Receipts (“TIGRs”), and Certificates of Accrual on Treasury Securities (“CATS”). |
Treasury Receipts |
U.S. Government Agency Securities*: Securities issued by agencies and instrumentalities of the U.S. government. These include all types of securities issued by the Government National Mortgage Association (“Ginnie Mae”), Federal National Mortgage Association (“Fannie Mae”) and Federal Home Loan Mortgage Corporation (“Freddie Mac”), including funding notes, subordinated benchmark notes, CMOs and REMICs. |
Mortgage-Related Securities |
U.S. Government Obligations: May include direct obligations of the U.S. Treasury, including Treasury bills, notes and bonds, all of which are backed as to principal and interest payments by the full faith and credit of the United States, and separately traded principal and interest component parts of such obligations that are transferable through the Federal book-entry system known as Separate Trading of Registered Interest and Principal of Securities (“STRIPS”) and Coupons Under Book-Entry-Safekeeping (“CUBES”). |
U.S. Government Obligations |
When-Issued Securities, Delayed Delivery Securities and Forward Commitments: Purchase or contract to purchase securities at a fixed price for delivery at a future date. |
When-Issued Securities, Delayed Delivery Securities and Forward Commitments |
|
Fiscal Year Ended February 28, | |
Fund |
2021 |
2022 |
Realty Income ETF |
90% |
59% |
Committee |
Fiscal Year Ended February 28, 2022 |
Audit and Valuation Committee |
5 |
Compliance Committee* |
3 |
Governance and Nominating Committee** |
3 |
Governance Committee* |
1 |
Equity Committee* |
1 |
ETF Committee* |
1 |
Fixed Income Committee* |
1 |
Money Market and Alternative Products Committee* |
1 |
Oversight Committee for Insurance and Performance Reports** |
2 |
Name of Trustee |
Dollar Range of Equity Securities in Realty Income ETF |
Aggregate Dollar Range of Equity Securities in All Registered Investment Companies Overseen by the Trustee in Family of Investment Companies1,2 |
Independent Trustees |
|
|
John F. Finn3 |
None |
Over $100,000 |
Stephen P. Fisher3 |
None |
Over $100,000 |
Gary L. French |
None |
Over $100,000 |
Kathleen M. Gallagher |
None |
Over $100,000 |
Robert J. Grassi |
None |
Over $100,000 |
Frankie D. Hughes |
None |
Over $100,000 |
Name of Trustee |
Dollar Range of Equity Securities in Realty Income ETF |
Aggregate Dollar Range of Equity Securities in All Registered Investment Companies Overseen by the Trustee in Family of Investment Companies1,2 |
Raymond Kanner3 |
None |
Over $100,000 |
Thomas P. Lemke |
None |
Over $100,000 |
Lawrence R. Maffia |
None |
Over $100,000 |
Mary E. Martinez |
None |
Over $100,000 |
Marilyn McCoy3 |
None |
Over $100,000 |
Dr. Robert A. Oden, Jr. |
None |
Over $100,000 |
Marian U. Pardo3 |
None |
Over $100,000 |
Emily A. Youssouf |
None |
$10,001– $50,000 |
Interested Trustees |
|
|
Robert Deutsch |
None |
Over $100,000 |
Nina O. Shenker3 |
None |
None |
Name of Trustee |
Realty Income ETF* |
Total Compensation Paid From Fund Complex1 |
Independent Trustees |
|
|
John F. Finn |
$2,991 |
$620,000 |
Stephen P. Fisher |
2,623 |
445,0002 |
Gary L. French3 |
0 |
157,500 |
Name of Trustee |
Realty Income ETF* |
Total Compensation Paid From Fund Complex1 |
Kathleen M. Gallagher |
$2,596 |
$432,5004 |
Robert J. Grassi3 |
0 |
156,000 |
Frankie D. Hughes |
2,518 |
395,000 |
Raymond Kanner |
2,623 |
445,0002 |
Thomas P. Lemke3 |
0 |
158,000 |
Lawrence R. Maffia3 |
0 |
156,000 |
Mary E. Martinez |
2,780 |
520,000 |
Marilyn McCoy |
2,518 |
395,0005 |
Dr. Robert A. Oden, Jr. |
2,623 |
445,000 |
Marian U. Pardo |
2,623 |
445,000 |
Emily A. Youssouf3 |
0 |
156,000 |
Interested Trustees |
|
|
Robert Deutsch3 |
0 |
150,000 |
Nina O. Shenker3 |
0 |
0 |
|
Fiscal Year Ended | |||||
|
February 29, 2020 |
February 28, 2021 |
February 28, 2022 | |||
Fund |
Paid |
Waived |
Paid |
Waived |
Paid |
Waived |
Realty Income ETF |
$12,860 |
$(1,030) |
$8,829 |
$(225) |
$11,525 |
$(174) |
|
Non-Performance Based Fee Advisory Accounts | |||||
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | ||||
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) | |
Realty Income ETF |
|
|
|
|
|
|
Scott Blasdell |
6 |
$5,967,100 |
2 |
$958,833 |
6 |
$852,775 |
Jason Ko |
2 |
1,542,926 |
1 |
426,390 |
2 |
226,188 |
|
Performance Based Fee Advisory Accounts | |||||
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | ||||
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) | |
Realty Income ETF |
|
|
|
|
|
|
Scott Blasdell |
0 |
$0 |
0 |
$0 |
0 |
$0 |
Jason Ko |
0 |
0 |
0 |
0 |
0 |
0 |
Fund |
Aggregate Dollar Range of Securities in the Fund | ||||||
None |
$1- $10,000 |
$10,001- $50,000 |
$50,001- $100,000 |
$100,001- $500,000 |
$500,001- $1,000,000 |
Over $1,000,000 | |
Realty Income ETF | |||||||
Scott Blasdell |
X |
|
|
|
|
|
|
Jason Ko |
|
|
|
|
X |
|
|
Name of Fund |
Benchmark |
Realty Income ETF |
MSCI US REIT Index |
|
Fiscal Year Ended | |||||
|
February 29, 2020 |
February 28, 2021 |
February 28, 2022 | |||
Fund |
Paid |
Waived |
Paid |
Waived |
Paid |
Waived |
Realty Income ETF |
$929 |
$(649) |
$1,009 |
$(123) |
$1,360 |
$(102) |
|
Fiscal Year Ended | ||
Fund |
February 29, 2020 |
February 28, 2021 |
February 28, 2022 |
Realty Income ETF |
$43 |
$40 |
$48 |
|
Realty Income ETF |
Gross Income from Securities Lending Activities1 |
$31,018 |
Fees and/or Compensation for Securities Lending Activities |
|
Revenue Split2 |
1,687 |
Cash Collateral Management Fees3 |
9,934 |
Administrative Fees |
— |
Indemnification Fees |
— |
Rebates to Borrowers |
(1,500) |
Others Fees |
— |
Aggregate Fees/Compensation for Securities Lending Activities |
10,121 |
Net Income from the Securities Lending Activities |
20,897 |
|
Fiscal Year Ended | ||
Fund |
February 29, 2020 |
February 28, 2021 |
February 28, 2022 |
Realty Income ETF | |||
Total Brokerage Commissions |
$1,593,000 |
$1,453,413 |
$1,081,582 |
Brokerage Commissions to Affiliated Broker/ Dealers |
— |
— |
— |
Fund |
Creation* |
Redemption* |
Realty Income ETF |
25,000 |
25,000 |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
JPMORGAN REALTY INCOME FUND | ||
CLASS A SHARES |
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
42.65% |
|
|
|
|
NATIONAL FINANCIAL SERVICES LLC FOR EXCLUSIVE BENEFIT OF OUR CUSTOMERS 499 WASHINGTON BLVD ATTN MUTUAL FUNDS DEPT 4TH FLOOR JERSEY CITY NJ 07310-1995 |
10.29% |
|
|
|
|
PERSHING LLC P.O. BOX 2052 JERSEY CITY NJ 07303-2052 |
7.31% |
|
|
|
|
EDWARD D JONES & CO FOR THE BENEFIT OF CUSTOMERS 12555 MANCHESTER RD SAINT LOUIS MO 63131-3710 |
6.86% |
|
|
|
|
CHARLES SCHWAB & CO INC SPECIAL CUSTODY ACCOUNT FOR BENEFIT OF CUSTOMERS ATTN MUTUAL FUNDS 211 MAIN ST SAN FRANCISCO CA 94105-1901 |
5.01% |
|
|
|
CLASS C SHARES |
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
60.05% |
|
|
|
|
PERSHING LLC P.O. BOX 2052 JERSEY CITY NJ 07303-2052 |
8.22% |
|
|
|
|
STIFEL NICOLAUS & CO INC EXCLUSIVE BENEFIT OF CUSTOMERS 501 N BROADWAY SAINT LOUIS MO 63102-2188 |
8.17% |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
|
|
|
|
WELLS FARGO CLEARING SERVICES LLC SPECIAL CUSTODY ACCT FOR THE EXCLUSIVE BENEFIT OF CUSTOMER 2801 MARKET STREET ST LOUIS MO 63103-2523 |
7.67% |
|
|
|
|
RAYMOND JAMES OMNIBUS FOR MUTUAL FUNDS ATTN COURTNEY WALLER 880 CARILLON PKWY ST PETERSBURG FL 33716-1100 |
6.25% |
|
|
|
CLASS I SHARES |
NATIONAL FINANCIAL SERVICES LLC FOR THE EXCLUSIVE BENEFIT OF OUR CUSTOMERS ATTN MUTUAL FUNDS DEPT 4TH FL 499 WASHINGTON BLVD JERSEY CITY NJ 07310-1995 |
57.80% |
|
|
|
|
PERSHING LLC P.O. BOX 2052 JERSEY CITY NJ 07303-2052 |
16.92% |
|
|
|
|
LPL FINANCIAL OMNIBUS CUSTOMER ACCOUNT ATTN MUTUAL FUND TRADING 4707 EXECUTIVE DR SAN DIEGO CA 92121-3091 |
13.90% |
|
|
|
|
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
5.89% |
|
|
|
CLASS L SHARES |
J. P. MORGAN SECURITIES LLC* FOR EXCLUSIVE BENEFIT OF CUSTOMERS 4 CHASE METROTECH CTR BROOKLYN NY 11245-0003 |
26.19% |
|
|
|
|
CHARLES SCHWAB & CO INC SPECIAL CUST A/C FBO EXCLUSIVE BENEFIT OF CUSTOMERS ATTN MUTUAL FUNDS 211 MAIN ST SAN FRANCISCO CA 94105-1901 |
24.17% |
|
|
|
|
NATIONAL FINANCIAL SERVICES LLC FOR THE EXCLUSIVE BENEFIT OF OUR CUSTOMERS ATTN MUTUAL FUNDS DEPT 4TH FL 499 WASHINGTON BLVD JERSEY CITY NJ 07310-1995 |
21.67% |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
|
|
|
|
PERSHING LLC P.O. BOX 2052 JERSEY CITY NJ 07303-2052 |
10.74% |
|
|
|
|
TD AMERITRADE INC FOR THE EXCLUSIVE BENEFIT OF OUR CLIENTS PO BOX 2226 OMAHA NE 68103-2226 |
8.08% |
|
|
|
CLASS R5 SHARES |
MATRIX TRUST COMPANY CUST FBO PHX-ONEAMERICA (WI OFFICE) PO BOX 52129 PHOENIX AZ 85072-2129 |
96.89% |
|
|
|
CLASS R6 SHARES |
MAC & CO ATTN MUTUAL FUND OPS PO BOX 3198 525 WILLIAM PENN PLACE PITTSBURGH PA 15230-3198 |
11.17% |
|
|
|
|
JPMIM AS AGENT FOR* JPMORGAN SMARTRETIREMENT 2040 FUND ATTN CLIENT SERVICES 500 STANTON CHRISTIANA RD DE3-3650 NEWARK DE 19713-2105 |
10.59% |
|
|
|
|
JPMIM AS AGENT FOR* JPMORGAN SMARTRETIREMENT 2035 FUND ATTN CLIENT SERVICES 500 STANTON CHRISTIANA RD DE3-3650 NEWARK DE 19713-2105 |
9.82% |
|
|
|
|
JPMIM AS AGENT FOR* JPMORGAN SMARTRETIREMENT 2030 FUND ATTN CLIENT SERVICES 500 STANTON CHRISTIANA RD DE3-3650 NEWARK DE 19713-2105 |
9.19% |
|
|
|
|
JPMIM AS AGENT FOR* JPMORGAN SMARTRETIREMENT 2045 FUND ATTN CLIENT SERVICES 500 STANTON CHRISTIANA RD DE3-3650 NEWARK DE 19713-2105 |
8.52% |
|
|
|
|
JPMIM AS AGENT FOR* JPMORGAN SMARTRETIREMENT 2050 FUND ATTN CLIENT SERVICES 500 STANTON CHRISTIANA RD DE3-3650 NEWARK DE 19713-2105 |
7.96% |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
|
|
|
|
JPMIM AS AGENT FOR* JPMORGAN INVESTOR BALANCED FUND ATTN CLIENT SERVICES 500 STANTON CHRISTIANA RD DE3-3650 NEWARK DE 19713-2105 |
6.84% |
|
|
|
|
JPMIM AS AGENT FOR* JPMORGAN SMARTRETIREMENT 2025 FUND ATTN CLIENT SERVICES 500 STANTON CHRISTIANA RD DE3-3650 NEWARK DE 19713-2105 |
5.73% |
|
|
|
|
JPMIM AS AGENT FOR* JPMORGAN INVESTOR CONSERVATIVE GROWTH FUND ATTN CLIENT SERVICES 500 STANTON CHRISTIANA RD DE3-3650 NEWARK DE 19713-2105 |
5.36% |
1 | |
1 | |
2 | |
3 | |
3 | |
4 | |
5 | |
5 | |
9 | |
9 | |
9 | |
10 | |
19 | |
19 | |
20 | |
25 | |
30 | |
39 | |
43 | |
48 | |
49 | |
49 | |
50 | |
50 | |
51 | |
51 | |
52 | |
52 | |
53 | |
56 | |
58 | |
59 | |
59 | |
59 | |
60 | |
61 | |
61 | |
61 | |
61 | |
62 | |
63 | |
72 | |
73 | |
73 | |
75 | |
76 | |
78 | |
78 | |
78 | |
78 |
79 | |
79 | |
81 | |
81 | |
83 | |
83 | |
87 | |
88 | |
88 | |
89 | |
90 | |
90 | |
91 | |
91 | |
91 | |
91 | |
97 | |
101 | |
101 | |
104 | |
104 | |
105 | |
105 | |
106 | |
107 | |
107 | |
111 | |
112 | |
113 | |
113 | |
113 | |
116 | |
116 | |
117 | |
117 | |
117 | |
119 | |
119 | |
120 | |
120 | |
121 | |
121 | |
121 | |
121 | |
122 | |
123 | |
124 | |
125 | |
131 | |
A-1 | |
B-1 | |
C-1 |
Name (Year of Birth; Term of Office, and Length of Time Served)(1) |
Principal Occupation(s) During Past 5 Years |
Number of Funds in Fund Complex Overseen by Trustee(1) |
Other Trusteeships/ 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). |
168 |
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 Main- Stay Funds Trust (2007-2017) (registered investment companies). |
168 |
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). |
168 |
Independent Trustee, The China Fund, Inc. (2013- 2019); Exchange Traded Concepts Trust II (2012- 2014); Exchange Traded Concepts Trust I (2011- 2014). |
Name (Year of Birth; Term of Office, and Length of Time Served)(1) |
Principal Occupation(s) During Past 5 Years |
Number of Funds in Fund Complex Overseen by Trustee(1) |
Other Trusteeships/ Directorships Held During the Past 5 Years |
Kathleen M. Gallagher (1958); Trustee, since 2018. |
Retired; Chief Investment Officer – Benefit Plans, Ford Motor Company (serving in various roles 1985-2016). |
168 |
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). |
168 |
None. |
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). |
168 |
None. |
Name (Year of Birth; Term of Office, and Length of Time Served)(1) |
Principal Occupation(s) During Past 5 Years |
Number of Funds in Fund Complex Overseen by Trustee(1) |
Other Trusteeships/ Directorships Held During the Past 5 Years |
Raymond Kanner (1953); Trustee, since 2017. |
Retired; Managing Director and Chief Investment Officer, IBM Retirement Funds (2007–2016). |
168 |
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. |
168 |
(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). |
168 |
Director, ICI Mutual Insurance Company (1999-2013). |
Name (Year of Birth; Term of Office, and Length of Time Served)(1) |
Principal Occupation(s) During Past 5 Years |
Number of Funds in Fund Complex Overseen by Trustee(1) |
Other Trusteeships/ Directorships Held During the Past 5 Years |
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). |
168 |
None. |
Marilyn McCoy (1948); Trustee, since 1999. |
Vice President of Administration and Planning, Northwestern University (1985– present). |
168 |
None. |
Dr. Robert A. Oden, Jr. (1946); Trustee, since 1997. |
Retired; President, Carleton College (2002–2010); President, Kenyon College (1995–2002). |
168 |
Trustee, The Coldwater Conservation Fund; 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). |
168 |
Board Chair and Member, Board of Governors, Columbus Citizens Foundation (not-for-profit supporting philanthropic and cultural programs) (2006–present). |
Name (Year of Birth; Term of Office, and Length of Time Served)(1) |
Principal Occupation(s) During Past 5 Years |
Number of Funds in Fund Complex Overseen by Trustee(1) |
Other Trusteeships/ Directorships Held During the Past 5 Years |
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. |
168 |
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(3) (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). |
168 |
Treasurer and Director of the JUST Capital Foundation (2017- present). |
Nina O. Shenker(3) (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. |
168 |
Director and Member of Legal and Human Resources Subcommittees, American Jewish Joint Distribution Committee (2018-present). |
Name of Committee |
Members |
Committee Chair |
Audit and Valuation Committee |
Ms. Gallagher Mr. Finn Mr. French Mr. Kanner |
Ms. Gallagher |
Compliance Committee |
Ms. Pardo Mr. Fisher Ms. Hughes Mr. Lemke |
Ms. Pardo |
Governance Committee |
Mr. Finn Ms. Martinez Ms. McCoy Dr. Oden |
Mr. Finn |
ETF Committee |
Mr. Deutsch Mr. Finn Mr. Grassi Mr. Maffia Ms. Martinez Ms. Shenker Ms. Youssouf |
Mr. Deutsch |
Equity Committee |
Mr. Kanner Mr. French Mr. Maffia Ms. Pardo |
Mr. Kanner |
Fixed Income Committee |
Dr. Oden Mr. Grassi Ms. Hughes Ms. Martinez Ms. Shenker Ms. Youssouf |
Dr. Oden |
Money Market and Alternative Products Committee |
Mr. Fisher Mr. Deutsch Ms. Gallagher Mr. Lemke Ms. McCoy |
Mr. Fisher |
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) |
Executive Director, J.P. Morgan Investment Management Inc. since February 2016. 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. Mr. Samuels has been with JPMorgan Chase 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 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 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. |
Name (Year of Birth), Positions Held with the Trust (Since) |
Principal Occupations During Past 5 Years |
Elizabeth A. Davin (1964), Assistant Secretary (2022)*** (formerly Secretary 2018-2022) |
Executive Director and Assistant General Counsel, JPMorgan Chase. Ms. Davin has been with JPMorgan Chase (formerly Bank One Corporation) since 2004. |
Jessica K. Ditullio (1962), Assistant Secretary (2014)*** |
Executive Director and Assistant General Counsel, JPMorgan Chase. Ms. Ditullio has been with JPMorgan Chase (formerly Bank One Corporation) since 1990. |
Anthony Geron (1971), Assistant Secretary (2019)** |
Vice President and Assistant General Counsel, JPMorgan Chase 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. Mr. Lekstutis has been with JPMorgan Chase since 2011. |
Max Vogel (1990), Assistant Secretary (2021)** |
Vice President and Assistant General Counsel, JPMorgan Chase since June 2021; Associate, Proskauer Rose LLP (law firm) from March 2017 to June 2021; Associate, Stroock & Stroock & Lavan LLP (law firm) from October 2015 to March 2017. |
Zachary E. Vonnegut-Gabovitch (1986), Assistant Secretary (2017)** |
Vice President and Assistant General Counsel, JPMorgan Chase since September 2016. |
Frederick J. Cavaliere (1978), Assistant Treasurer (2015)* |
Executive Director, J.P. Morgan Investment Management Inc. Mr. Cavaliere has been with JPMorgan 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. |
Shannon Gaines (1977), Assistant Treasurer (2019)*** |
Vice President, J.P. Morgan Investment Management Inc. since January 2014. |
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. |
Tier One |
First $75 billion |
0.0025% |
Tier Two |
Next $25 billion |
0.0020% |
Tier Three |
Over $100 billion |
0.0015% |
|
|
|
Other Fees: |
|
|
Annual Base Fee (in addition to asset based fee) |
|
$20,000 per Fund |
Tier One |
Up to $50 billion |
0.0030% |
Tier Two |
Next $75 billion |
0.0025% |
Tier Three |
Over $125 billion |
0.0015% |
|
|
|
Other Fees: |
|
|
Minimum |
|
$22,500 per Fund per year |
0 | |
9 | |
9 | |
9 | |
10 | |
12 | |
13 | |
14 | |
18 | |
18 | |
18 | |
19 | |
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19 | |
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76 | |
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76 | |
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77 | |
77 | |
77 | |
77 | |
77 | |
77 | |
77 | |
78 |
A-1 |
A short-term obligation rated ‘A-1’ is rated in the highest category by S&P Global Ratings. The obligor’s capacity to meet its financial commitments on the obligation is strong. Within this category, certain obligations are designated with a plus sign (+). This indicates that the obligor’s capacity to meet its financial commitments on these obligations is extremely strong. |
A-2 |
A short-term obligation rated ‘A-2’ is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligations in higher rating categories. However, the obligor’s capacity to meet its financial commitments on the obligation is satisfactory. |
A-3 |
A short-term obligation rated ‘A-3’ exhibits adequate protection parameters. However, adverse economic conditions or changing circumstances are more likely to weaken an obligor’s capacity to meet its financial commitments on the obligation. |
B |
A short-term obligation rated ‘B' is regarded as vulnerable and has significant speculative characteristics. The obligor currently has the capacity to meet its financial commitments; however, it faces major ongoing uncertainties that could lead to the obligor's inadequate capacity to meet its financial commitments. |
C |
A short-term obligation rated ‘C’ is currently vulnerable to nonpayment and is dependent upon favorable business, financial, and economic conditions for the obligor to meet its financial commitments on the obligation. |
D |
A short-term obligation rated ‘D’ is in default or in breach of an imputed promise. For non-hybrid capital instruments, the ‘D’ rating category is used when payments on an obligation are not made on the date due, unless S&P Global Ratings believes that such payments will be made within any stated grace period. However, any stated grace period longer than five business days will be treated as five business days. The ‘D’ rating also will be used upon the filing of a bankruptcy petition or the taking of a similar action and where default on an obligation is a virtual certainty, for example due to automatic stay provisions. A rating on an obligation is lowered to ‘D’ if it is subject to a distressed debt restructuring. |
F1 |
HIGHEST SHORT-TERM CREDIT QUALITY. Indicates the strongest intrinsic capacity for timely payment of financial commitments; may have an added “+” to denote any exceptionally strong credit feature. |
F2 |
GOOD SHORT-TERM CREDIT QUALITY. Good intrinsic capacity for timely payment of financial commitments. |
F3 |
FAIR SHORT-TERM CREDIT QUALITY. The intrinsic capacity for timely payment of financial commitments is adequate. |
B |
SPECULATIVE SHORT-TERM CREDIT QUALITY. Minimal capacity for timely payment of financial commitments, plus heightened vulnerability to near term adverse changes in financial and economic conditions. |
C |
HIGH SHORT-TERM DEFAULT RISK. Default is a real possibility. |
RD |
RESTRICTED DEFAULT. Indicates an entity that has defaulted on one or more of its financial commitments, although it continues to meet other financial obligations. Typically applicable to entity ratings only. |
D |
DEFAULT. Indicates a broad-based default event for an entity, or the default of a short- term obligation. |
P-1 |
Ratings of Prime-1 reflect a superior ability to repay short-term debt obligations. |
P-2 |
Ratings of Prime-2 reflect a strong ability to repay short-term debt obligations. |
P-3 |
Ratings of Prime-3 reflect an acceptable ability to repay short-term obligations. |
NP |
Issuers (or supporting institutions) rated Not Prime do not fall within any of the Prime rating categories. |
R-1 (high) |
Highest credit quality. The capacity for the payment of short-term financial obligations as they fall due is exceptionally high. Unlikely to be adversely affected by future events. |
R-1 (middle) |
Superior credit quality. The capacity for the payment of short-term financial obligations as they fall due is very high. Differs from R-1 (high) by a relatively modest degree. Unlikely to be significantly vulnerable to future events. |
R-1 (low) |
Good credit quality. The capacity for the payment of short-term financial obligations as they fall due is substantial. Overall strength is not as favorable as higher rating categories. May be vulnerable to future events, but qualifying negative factors are considered manageable. |
R-2 (high) |
Upper end of adequate credit quality. The capacity for the payment of short-term financial obligations as they fall due is acceptable. May be vulnerable to future events. |
R-2 (middle) |
Adequate credit quality. The capacity for the payment of short-term financial obligations as they fall due is acceptable. May be vulnerable to future events or may be exposed to other factors that could reduce credit quality. |
R-2 (low) |
Lower end of adequate credit quality. The capacity for the payment of short-term financial obligations as they fall due is acceptable. May be vulnerable to future events. A number of challenges are present that could affect the issuer’s ability to meet such obligations. |
R-3 |
Lowest end of adequate credit quality. There is a capacity for the payment of short-term financial obligations as they fall due. May be vulnerable to future events and the certainty of meeting such obligations could be impacted by a variety of developments. |
R-4 |
Speculative credit quality. The capacity for the payment of short-term financial obligations as they fall due is uncertain. |
R-5 |
Highly speculative credit quality. There is a high level of uncertainty as to the capacity to meet short-term financial obligations as they fall due. |
D |
When the issuer has filed under any applicable bankruptcy, insolvency or winding up statute or there is a failure to satisfy an obligation after the exhaustion of grace periods, a downgrade to D may occur. DBRS Morningstar may also use SD (Selective Default) in cases where only some securities are impacted, such as the case of a “distressed exchange.” |
AAA |
An obligation rated ‘AAA’ has the highest rating assigned by S&P Global Ratings. The obligor’s capacity to meet its financial commitments on the obligation is extremely strong. |
AA |
An obligation rated ‘AA’ differs from the highest-rated obligations only to a small degree. The obligor’s capacity to meet its financial commitments on the obligation is very strong. |
A |
An obligation rated ‘A’ is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligations in higher-rated categories. However, the obligor’s capacity to meet its financial commitments on the obligation is still strong. |
BBB |
An obligation rated ‘BBB’ exhibits adequate protection parameters. However, adverse economic conditions or changing circumstances are more likely to weaken the obligor’s capacity to meet its financial commitments on the obligation. |
BB,B,CCC,CC and C |
Obligations rated ‘BB’, ‘B’, ‘CCC’, ‘CC’, and ‘C’ are regarded as having significant speculative characteristics. ‘BB’ indicates the least degree of speculation and ‘C’ the highest. While such obligations will likely have some quality and protective characteristics, these may be outweighed by large uncertainties or major exposure to adverse conditions. |
BB |
An obligation rated ‘BB’ is less vulnerable to nonpayment than other speculative issues. However, it faces major ongoing uncertainties or exposure to adverse business, financial, or economic conditions that could lead to the obligor’s inadequate capacity to meet its financial commitments on the obligation. |
B |
An obligation rated ‘B’ is more vulnerable to nonpayment than obligations rated ‘BB’, but the obligor currently has the capacity to meet its financial commitments on the obligation. Adverse business, financial, or economic conditions will likely impair the obligor’s capacity or willingness to meet its financial commitments on the obligation. |
CCC |
An obligation rated ‘CCC’ is currently vulnerable to nonpayment, and is dependent upon favorable business, financial, and economic conditions for the obligor to meet its financial commitments on the obligation. In the event of adverse business, financial, or economic conditions, the obligor is not likely to have the capacity to meet its financial commitments on the obligation. |
CC |
An obligation rated ‘CC’ is currently highly vulnerable to nonpayment. The ‘CC’ rating is used when a default has not yet occurred but S&P Global Ratings expects default to be a virtual certainty, regardless of the anticipated time to default. |
C |
An obligation rated ‘C’ is currently highly vulnerable to nonpayment, and the obligation is expected to have lower relative seniority or lower ultimate recovery compared with obligations that are rated higher. |
D |
An obligation rated ‘D’ is in default or in breach of an imputed promise. For non-hybrid capital instruments, the ‘D’ rating category is used when payments on an obligation are not made on the date due, unless S&P Global Ratings believes that such payments will be made within five business days in the absence of a stated grace period or within the earlier of the stated grace period or 30 calendar days. The ‘D’ rating also will be used upon the filing of a bankruptcy petition or the taking of similar action and where default on an obligation is a virtual certainty, for example due to automatic stay provisions. A rating on an obligation is lowered to ‘D’ if it is subject to a distressed debt restructuring. |
AAA |
HIGHEST CREDIT QUALITY. ‘AAA’ ratings denote the lowest expectation of default risk. They are assigned only in cases of exceptionally strong capacity for payment of financial commitments. This capacity is highly unlikely to be adversely affected by foreseeable events. |
AA |
VERY HIGH CREDIT QUALITY. ‘AA’ ratings denote expectations of very low default risk. They indicate very strong capacity for payment of financial commitments. This capacity is not significantly vulnerable to foreseeable events. |
A |
HIGH CREDIT QUALITY. ‘A’ ratings denote expectations of low default risk. The capacity for payment of financial commitments is considered strong. This capacity may, nevertheless, be more vulnerable to adverse business or economic conditions than is the case for higher ratings. |
BBB |
GOOD CREDIT QUALITY. ‘BBB’ ratings indicate that expectations of default risk are currently low. The capacity for payment of financial commitments is considered adequate, but adverse business or economic conditions are more likely to impair this capacity. |
BB |
SPECULATIVE. ‘BB’ ratings indicate an elevated vulnerability to default risk, particularly in the event of adverse changes in business or economic conditions over time; however, business or financial flexibility exists that supports the servicing of financial commitments. |
B |
HIGHLY SPECULATIVE. ‘B’ ratings indicate that material default risk is present, but a limited margin of safety remains. Financial commitments are currently being met; however, capacity for continued payment is vulnerable to deterioration in the business and economic environment. |
CCC |
SUBSTANTIAL CREDIT RISK. Default is a real possibility. |
CC |
VERY HIGH LEVELS OF CREDIT RISK. Default of some kind appears probable. |
C |
NEAR DEFAULT. A default or default-like process has begun, or the issuer is in standstill, or for a closed funding vehicle, payment capacity is irrevocably impaired. Conditions that are indicative of a ‘C’ category rating for an issuer include: |
|
•the issuer has entered into a grace or cure period following non-payment of a material financial obligation; •the issuer has entered into a temporary negotiated waiver or standstill agreement following a payment default on a material financial obligation; •the formal announcement by the issuer or their agent of a distressed debt exchange; •a closed financing vehicle where payment capacity is irrevocably impaired such that it is not expected to pay interest and/or principal in full during the life of the transaction, but where no payment default is imminent. |
RD |
RESTRICTED DEFAULT. ‘RD’ ratings indicate an issuer that in Fitch’s opinion has experienced: |
|
•an uncured payment default or distressed debt exchange on a bond, loan or other material financial obligation, but •has not entered into bankruptcy filings, administration, receivership, liquidation or other formal winding-up procedure, and •has not otherwise ceased operating. This would include: •the selective payment default on a specific class or currency of debt; •the uncured expiry of any applicable grace period, cure period or default forbearance period following a payment default on a bank loan, capital markets security or other material financial obligation; •the extension of multiple waivers or forbearance periods upon a payment default on one or more material financial obligations, either in series or in parallel; ordinary execution of a distressed debt exchange on one or more material financial obligations. |
D |
DEFAULT. ‘D’ ratings indicate an issuer that in Fitch Ratings’ opinion has entered into bankruptcy filings, administration, receivership, liquidation or other formal winding-up procedure or that has otherwise ceased business. |
Aaa |
Obligations rated Aaa are judged to be of the highest quality, with minimal risk. |
Aa |
Obligations rated Aa are judged to be of high quality and are subject to very low credit risk. |
A |
Obligations rated A are judged to be upper-medium-grade and are subject to low credit risk. |
Baa |
Obligations rated Baa are subject to moderate credit risk. They are considered medium- grade and as such may possess certain speculative characteristics. |
Ba |
Obligations rated Ba are judged to have speculative elements and are subject to substantial credit risk. |
B |
Obligations rated B are considered speculative and are subject to high credit risk. |
Caa |
Obligations rated Caa are judged to be of poor standing and are subject to very high credit risk. |
Ca |
Obligations rated Ca are highly speculative and are likely in, or very near, default, with some prospect of recovery in principal and interest. |
C |
Obligations rated C are the lowest-rated class of bonds and are typically in default, with little prospect for recovery of principal or interest. |
AAA |
Highest credit quality. The capacity for the payment of financial obligations is exceptionally high and unlikely to be adversely affected by future events. |
AA |
Superior credit quality. The capacity for the payment of financial obligations is considered high. Credit quality differs from AAA only to a small degree. Unlikely to be significantly vulnerable to future events. |
A |
Good credit quality. The capacity for the payment of financial obligations is substantial, but of lesser credit quality than AA. May be vulnerable to future events, but qualifying negative factors are considered manageable. |
BBB |
Adequate credit quality. The capacity for the payment of financial obligations is considered acceptable. May be vulnerable to future events. |
BB |
Speculative, non-investment grade credit quality. The capacity for the payment of financial obligations is uncertain. Vulnerable to future events. |
B |
Highly speculative credit quality. There is a high level of uncertainty as to the capacity to meet financial obligations. |
CCC/CC/C |
Very highly speculative credit quality. In danger of defaulting on financial obligations. There is little difference between these three categories, although CC and C ratings are normally applied to obligations that are seen as highly likely to default, or subordinated to obligations rated in the CCC to B range. Obligations in respect of which default has not technically taken place but is considered inevitable may be rated in the C category. |
D |
When the issuer has filed under any applicable bankruptcy, insolvency or winding up statute or there is a failure to satisfy an obligation after the exhaustion of grace periods, a downgrade to D may occur. DBRS Morningstar may also use SD (Selective Default) in cases where only some securities are impacted, such as the case of a “distressed exchange.” |
AAA |
An insurer rated ‘AAA’ has extremely strong financial security characteristics. ‘AAA’ is the highest insurer financial strength rating assigned by S&P Global Ratings. |
AA |
An insurer rated ‘AA’ has very strong financial security characteristics, differing only slightly from those rated higher. |
A |
An insurer rated ‘A’ has strong financial security characteristics, but is somewhat more likely to be affected by adverse business conditions than are insurers with higher ratings. |
BBB |
An insurer rated ‘BBB’ has good financial security characteristics, but is more likely to be affected by adverse business conditions than are higher-rated insurers. |
BB, B, CCC, and CC |
An insurer rated ‘BB’ or lower is regarded as having vulnerable characteristics that may outweigh its strengths, ‘BB’ indicates the least degree of vulnerability within the range and ‘CC’ the highest. |
BB |
An insurer rated ‘BB’ has marginal financial security characteristics. Positive attributes exist, but adverse business conditions could lead to insufficient ability to meet financial commitments. |
B |
An insurer rated ‘B’ has weak financial security characteristics. Adverse business conditions will likely impair its ability to meet financial commitments. |
CCC |
An insurer rated ‘CCC’ has very weak financial security characteristics, and is dependent on favorable business conditions to meet financial commitments. |
CC |
An insurer rated ‘CC’ has extremely weak financial security characteristics and is likely not to meet some of its financial commitments. |
SD and D |
An insurer rated ‘SD’ (selective default) or ‘D’ is in default on one or more of its insurance policy obligations. The ‘D’ rating also will be used upon the filing of a bankruptcy petition or the taking of similar action if payments on a policy obligation are at risk. A ‘D’ rating is assigned when S&P Global Ratings believes that the default will be a general default and that the obligor will fail to pay substantially all of its obligations in full in accordance with the policy terms. An ‘SD’ rating is assigned when S&P Global Ratings believes that the insurer has selectively defaulted on a specific class of policies but it will continue to meet its payment obligations on other classes of obligations. An ‘SD’ includes the completion of a distressed debt restructuring. Claim denials due to lack of coverage or other legally permitted defenses are not considered defaults. |
AAA |
EXCEPTIONALLY STRONG. ‘AAA’ IFS Ratings denote the lowest expectation of ceased or interrupted payments. They are assigned only in the case of exceptionally strong capacity to meet policyholder and contract obligations. This capacity is highly unlikely to be adversely affected by foreseeable events. |
AA |
VERY STRONG. ‘AA’ IFS Ratings denote a very low expectation of ceased or interrupted payments. They indicate very strong capacity to meet policyholder and contract obligations. This capacity is not significantly vulnerable to foreseeable events. |
A |
STRONG. ‘A’ IFS Ratings denote a low expectation of ceased or interrupted payments. They indicate strong capacity to meet policyholder and contract obligations. This capacity may, nonetheless, be more vulnerable to changes in circumstances or in economic conditions than is the case for higher ratings. |
BBB |
GOOD. ‘BBB’ IFS Ratings indicate that there is currently a low expectation of ceased or interrupted payments. The capacity to meet policyholder and contract obligations on a timely basis is considered adequate, but adverse changes in circumstances and economic conditions are more likely to impact this capacity. |
BB |
MODERATELY WEAK. ‘BB’ IFS Ratings indicate that there is an elevated vulnerability to ceased or interrupted payments, particularly as the result of adverse economic or market changes over time. However, business or financial alternatives may be available to allow for policyholder and contract obligations to be met in a timely manner. |
B |
WEAK. ‘B’ IFS Ratings indicate two possible conditions. If obligations are still being met on a timely basis, there is significant risk that ceased or interrupted payments could occur in the future, but a limited margin of safety remains. Capacity for continued timely payments is contingent upon a sustained, favorable business and economic environment, and favorable market conditions. Alternatively, a ‘B’ IFS Rating is assigned to obligations that have experienced ceased or interrupted payments, but with the potential for extremely high recoveries. Such obligations would possess a recovery assessment of ‘RR1’ (Outstanding). |
CCC |
VERY WEAK. ‘CCC’ IFS Ratings indicate two possible conditions. If obligations are still being met on a timely basis, there is a real possibility that ceased or interrupted payments could occur in the future. Capacity for continued timely payments is solely reliant upon a sustained, favorable business and economic environment, and favorable market conditions. Alternatively, a ‘CCC’ IFS Rating is assigned to obligations that have experienced ceased or interrupted payments, and with the potential for average to superior recoveries. Such obligations would possess a recovery assessment of ‘RR2’ (Superior), ‘RR3’ (Good), and ‘RR4’ (Average). |
CC |
EXTREMELY WEAK. ‘CC’ IFS Ratings indicate two possible conditions. If obligations are still being met on a timely basis, it is probable that ceased or interrupted payments will occur in the future. Alternatively, a ‘CC’ IFS Rating is assigned to obligations that have experienced ceased or interrupted payments, with the potential for average to below-average recoveries. Such obligations would possess a recovery assessment of ‘RR4’ (Average) or ‘RR5’ (Below Average). |
C |
DISTRESSED. ‘C’ IFS Ratings indicate two possible conditions. If obligations are still being met on a timely basis, ceased or interrupted payments are imminent. Alternatively, a ‘C’ IFS Rating is assigned to obligations that have experienced ceased or interrupted payments, and with the potential for below average to poor recoveries. Such obligations would possess a recovery assessment of ‘RR5’ (Below Average) or ‘RR6’ (Poor). |
F1 |
Insurers are viewed as having a strong capacity to meet their near-term obligations. When an insurer rated in this rating category is designated with a (+) sign, it is viewed as having a very strong capacity to meet near-term obligations. |
F2 |
Insurers are viewed as having a good capacity to meet their near-term obligations. |
F3 |
Insurers are viewed as having an adequate capacity to meet their near-term obligations. |
B |
Insurers are viewed as having a weak capacity to meet their near-term obligations. |
C |
Insurers are viewed as having a very weak capacity to meet their near-term obligations. |
RR1 |
OUTSTANDING RECOVERY PROSPECTS GIVEN DEFAULT. ‘RR1’ rated securities have characteristics consistent with securities historically recovering 91%–100% of current principal and related interest. |
RR2 |
SUPERIOR RECOVERY PROSPECTS GIVEN DEFAULT. ‘RR2’ rated securities have characteristics consistent with securities historically recovering 71%–90% of current principal and related interest. |
RR3 |
GOOD RECOVERY PROSPECTS GIVEN DEFAULT. ‘RR3’ rated securities have characteristics consistent with securities historically recovering 51%–70% of current principal and related interest. |
RR4 |
AVERAGE RECOVERY PROSPECTS GIVEN DEFAULT. ‘RR4’ rated securities have characteristics consistent with securities historically recovering 31%–50% of current principal and related interest. |
RR5 |
BELOW AVERAGE RECOVERY PROSPECTS GIVEN DEFAULT. ‘RR5’ rated securities have characteristics consistent with securities historically recovering 11%– 30% of current principal and related interest. |
RR6 |
POOR RECOVERY PROSPECTS GIVEN DEFAULT. ‘RR6’ rated securities have characteristics consistent with securities historically recovering 0%–10% of current principal and related interest. |
Aaa |
Insurance companies rated Aaa are judged to be of the highest quality, subject to the lowest level of credit risk. |
Aa |
Insurance companies rated Aa are judged to be of high quality and are subject to very low credit risk. |
A |
Insurance companies rated A are judged to be upper-medium grade and are subject to low credit risk. |
Baa |
Insurance companies rated Baa are judged to be medium-grade and subject to moderate credit risk and as such may possess certain speculative characteristics. |
Ba |
Insurance companies rated Ba are judged to be speculative and are subject to substantial credit risk. |
B |
Insurance companies rated B are considered speculative and are subject to high credit risk. |
Caa |
Insurance companies rated Caa are judged to be speculative of poor standing and are subject to very high credit risk. |
Ca |
Insurance companies rated Ca are highly speculative and are likely in, or very near, default, with some prospect of recovery of principal and interest. |
C |
Insurance companies rated C are the lowest rated and are typically in default, with little prospect for recovery of principal or interest. |
P-1 |
Ratings of Prime-1 reflect a superior ability to repay short-term debt obligations. |
P-2 |
Ratings of Prime-2 reflect a strong ability to repay short-term debt obligations. |
P-3 |
Ratings of Prime-3 reflect an acceptable ability to repay short-term obligations. |
P-4 |
Issuers (or supporting institutions) rated Not Prime do not fall within any of the Prime rating categories. |
SP-1 |
Strong capacity to pay principal and interest. An issue determined to possess a very strong capacity to pay debt service is given a plus (+) designation. |
SP-2 |
Satisfactory capacity to pay principal and interest, with some vulnerability to adverse financial and economic changes over the term of the notes. |
SP-3 |
Speculative capacity to pay principal and interest. |
D |
‘D’ is assigned upon failure to pay the note when due, completion of a distressed debt restructuring, or the filing of a bankruptcy petition or the taking of similar action and where default on an obligation is a virtual certainty, for example, due to automatic stay provisions. |
MIG 1 |
This designation denotes superior credit quality. Excellent protection is afforded by established cash flows, highly reliable liquidity support or demonstrated broad-based access to the market for refinancing. |
MIG 2 |
This designation denotes strong credit quality. Margins of protection are ample, although not as large as in the preceding group. |
MIG 3 |
This designation denotes acceptable credit quality. Liquidity and cash-flow protection may be narrow, and market access for refinancing is likely to be less well-established. |
SG |
This designation denotes speculative-grade credit quality. Debt instruments in this category may lack sufficient margins of protection. |
VMIG 1 |
This designation denotes superior credit quality. Excellent protection is afforded by the superior short-term credit strength of the liquidity provider and structural and legal protections that ensure the timely payment of purchase price upon demand. |
VMIG 2 |
This designation denotes strong credit quality. Good protection is afforded by the strong short-term credit strength of the liquidity provider and structural and legal protections that ensure the timely payment of purchase price upon demand. |
VMIG 3 |
This designation denotes acceptable credit quality. Adequate protection is afforded by the satisfactory short-term credit strength of the liquidity provider and structural and legal protections that ensure the timely payment of purchase price upon demand. |
SG |
This designation denotes speculative-grade credit quality. Demand features rated in this category may be supported by a liquidity provider that does not have a sufficiently strong short-term rating or may lack the structural or legal protections necessary to ensure the timely payment of purchase price upon demand. |
Pfd-1 |
Preferred shares rated Pfd-1 are generally of superior credit quality, and are supported by entities with strong earnings and balance sheet characteristics. Pfd-1 ratings generally correspond with issuers with a AAA or AA category reference point1. |
Pfd-2 |
Preferred shares rated Pfd-2 are generally of good credit quality. Protection of dividends and principal is still substantial, but earnings, the balance sheet and coverage ratios are not as strong as Pfd-1 rated companies. Generally, Pfd-2 ratings correspond with issuers with an A category or higher reference point. |
Pfd-3 |
Preferred shares rated Pfd-3 are generally of adequate credit quality. While protection of dividends and principal is still considered acceptable, the issuing entity is more susceptible to adverse changes in financial and economic conditions, and there may be other adverse conditions present which detract from debt protection. Pfd-3 ratings generally correspond with issuers with a BBB category or higher reference point. |
Pfd-4 |
Preferred shares rated Pfd-4 are generally speculative, where the degree of protection afforded to dividends and principal is uncertain, particularly during periods of economic adversity. Issuers with preferred shares rated Pfd-4 generally correspond with issuers with a BB category or higher reference point. |
Pfd-5 |
Preferred shares rated Pfd-5 are generally highly speculative and the ability of the entity to maintain timely dividend and principal payments in the future is highly uncertain. Entities with a Pfd-5 rating generally correspond with issuers with a B category or higher reference point. Preferred shares rated Pfd-5 often have characteristics that, if not remedied, may lead to default. |
D |
When the issuer has filed under any applicable bankruptcy, insolvency or winding up or the issuer is in default per the legal documents, a downgrade to D may occur. Because preferred share dividends are only payable when approved, the non-payment of a preferred share dividend does not necessarily result in a D. DBRS Morningstar may also use SD (Selective Default) in cases where only some securities are impacted, such as the case of a “distressed exchange”. See the Default Definition document posted on the website for more information. |
(a)(1) |
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(a)(2) |
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(a)(3) |
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(b) |
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(c) |
Instruments Defining Rights of Security Holders. Incorporated by reference to Exhibits (a) and (b). |
(d)(1) |
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(d)(2) |
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(d)(3) |
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(d)(4) |
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(d)(5) |
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(d)(6) |
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(d)(7) |
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(e)(1) |
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(e)(2) |
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(f) |
Not applicable. |
(g)(1)(a) |
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(g)(1)(b) |
(g)(1)(c) |
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(g)(1)(d) |
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(g)(1)(e) |
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(g)(2)(a) |
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(g)(2)(b) |
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(h)(1)(a) |
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(h)(1)(b) |
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(h)(1)(c) |
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(h)(2)(a) |
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(h)(2)(b) |
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(h)(2)(c) |
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(h)(3)(a) |
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(h)(3)(b) |
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(h)(3)(c) |
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(h)(3)(d) |
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(h)(3)(e) |
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(h)(4)(a) |
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(h)(4)(b) |
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(h)(5) |
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(h)(6) |
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(i) |
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(j) |
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(k) |
Not applicable. |
(l) |
Not applicable. |
(m) |
Not applicable. |
(n) |
Not applicable. |
(o) |
Reserved. |
(p)(1) |
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(p)(2) |
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(p)(3) |
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(99)(a) |
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(99)(b) |
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(99)(c) |
EX-101.INS |
XBRL Instance Document - the instance document does not appear on the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. |
EX-101.SCH |
XBRL Taxonomy Extension Schema Document. |
EX-101.CAL |
XBRL Taxonomy Extension Calculation Linkbase Document. |
EX-101.DEF |
XBRL Taxonomy Extension Definition Linkbase Document. |
EX-101.LAB |
XBRL Taxonomy Extension Labels Linkbase Document. |
EX-101.PRE |
XBRL Taxonomy Extension Presentation Linkbase Document. |
Name with Registrant |
Positions and Office with JPMorgan Distribution Services, Inc. |
Positions and Offices with the Funds |
Wendy Barta |
Director, Executive Director & President |
None |
Andrea Lisher |
Director & Managing Director |
None |
Joseph F. Sanzone |
Director & Managing Director |
None |
Omar F. Altahawi |
Managing Director & Treasurer |
None |
Gary C. Krivo |
Managing Director & Chief Risk Officer |
None |
Michael R. Machulski |
Director & Managing Director |
None |
Brian S. Shlissel |
Managing Director |
President & Principal Executive Officer |
James A. Hoffman |
Executive Director |
None |
Carmine Lekstutis |
Executive Director & Chief Legal Officer |
Assistant Secretary |
Jessica K. Ditullio |
Executive Director & Assistant Secretary |
Assistant Secretary |
Kevin Kloza |
Executive Director and Chief Compliance Officer |
None |
Andrea Lang |
Vice President & Anti-Money Laundering Compliance Officer |
None |
Frank J. Drozek |
Executive Director & Assistant Treasurer |
None |
Christopher J. Mohr |
Executive Director & Assistant Treasurer |
None |
Joanna Corey |
Executive Director & Assistant Secretary |
None |
Marcela Castro |
Executive Director & Assistant Secretary |
None |
Afiya M. Jordan |
Vice President & Secretary |
None |
Amee Kantesaria |
Vice President & Assistant Secretary |
None |
Amy Hsu |
Vice President & Assistant Secretary |
None |
Andris Alexander |
Vice President & Assistant Secretary |
None |
Theodore Weisman |
Vice President & Assistant Secretary |
None |
J.P. Morgan Exchange-Traded Fund Trust | |
By: |
Brian S. Shlissel* |
|
Name: Brian S. Shlissel |
|
Title: President and Principal Executive Officer |
John F. Finn* |
John F. Finn |
Trustee |
Stephen P. Fisher* |
Stephen P. Fisher |
Trustee |
Gary L. French* |
Gary L. French |
Trustee |
Kathleen M. Gallagher* |
Kathleen M. Gallagher |
Trustee |
Robert J. Grassi* |
Robert J. Grassi |
Trustee |
Frankie D. Hughes* |
Frankie D. Hughes |
Trustee |
Raymond Kanner* |
Raymond Kanner |
Trustee |
Thomas P. Lemke* |
Thomas P. Lemke |
Trustee |
Timothy J. Clemens* |
Timothy J. Clemens |
Treasurer and Principal Financial Officer |
*By |
/s/ Zachary E. Vonnegut-Gabovitch |
|
Zachary E. Vonnegut-Gabovitch |
|
Attorney-In-Fact |
Lawrence R. Maffia* |
Lawrence R. Maffia |
Trustee |
Mary E. Martinez* |
Mary E. Martinez |
Trustee |
Marilyn McCoy* |
Marilyn McCoy |
Trustee |
Robert A. Oden, Jr.* |
Robert A. Oden, Jr. |
Trustee |
Marian U. Pardo* |
Marian U. Pardo |
Trustee |
Emily A. Youssouf* |
Emily A. Youssouf |
Trustee |
Robert F. Deutsch* |
Robert F. Deutsch |
Trustee |
Nina O. Shenker* |
Nina O. Shenker |
Trustee |
Brian S. Shlissel* |
Brian S. Shlissel |
President and Principal Executive Officer |
Exhibit No. |
Description |
(g)(1)(b) |
Amendment to the Amended and Restated Global Custody and Fund Accounting Agreement as of May 12, 2022, including Amended Schedule A. |
(h)(1)(b) |
Amendment to the Agency Services Agreement as of May 12, 2022, including Amended Exhibit A. |
(i) |
Opinion and consent of counsel. |
(j) |
Consent of independent registered accounting firm. |
EX-101.INS |
XBRL Instance Document - the instance document does not appear on the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. |
EX-101.SCH |
XBRL Taxonomy Extension Schema Document. |
EX-101.CAL |
XBRL Taxonomy Extension Calculation Linkbase Document. |
EX-101.DEF |
XBRL Taxonomy Extension Definition Linkbase Document. |
EX-101.LAB |
XBRL Taxonomy Extension Labels Linkbase Document. |
EX-101.PRE |
XBRL Taxonomy Extension Presentation Linkbase Document. |