Fund
|
Ticker
|
Listing
Exchange
|
JPMorgan
Climate Change Solutions ETF |
TEMP |
NYSE
Arca |
JPMorgan
Social Advancement ETF |
UPWD |
Nasdaq
Stock Market® LLC |
JPMorgan
Sustainable Consumption ETF |
CIRC |
Nasdaq
Stock Market® LLC |
JPMorgan
Sustainable Infrastructure ETF |
BLLD |
Nasdaq
Stock Market® LLC |
|
|
1 | |
2 | |
| |
3 | |
6 | |
9 | |
12 | |
15 | |
23 | |
28 | |
30 | |
41 | |
42 |
![]() |
“While
the effects of rising interest
rates
is likely to adversely impact
economic
growth in the months
ahead,
other factors may aid the
global
economic outlook, as energy
prices
have trended downward in
recent
months and the re-opening of
China’s
economy may provide
support
for increased global trade.”
—
Brian S. Shlissel
|
April
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
1
|
2
|
J.P.
Morgan Exchange-Traded Funds
|
April
30, 2023
|
REPORTING
PERIOD RETURN: |
|
Net
Asset Value * |
11.44% |
Market
Price ** |
11.31% |
MSCI
ACWI Index (net total return) |
12.68% |
Net
Assets as of 4/30/2023 |
$21,565,110 |
Fund
Ticker |
TEMP |
April
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
3
|
TOP
TEN HOLDINGS OF THE
PORTFOLIO
AS OF April
30, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS | |
1. |
Schneider
Electric SE |
4.3
% |
2. |
Trane
Technologies plc |
4.2 |
3. |
Infineon
Technologies AG (Germany) |
4.2 |
4. |
Xylem,
Inc. |
3.6 |
5. |
Mercedes-Benz
Group AG (Germany) |
3.6 |
6. |
NextEra
Energy, Inc. |
3.5 |
7. |
Iberdrola
SA (Spain) |
3.5 |
8. |
Keyence
Corp. (Japan) |
3.4 |
9. |
Sika
AG (Registered) (Switzerland) |
3.4 |
10. |
Siemens
AG (Registered) (Germany) |
3.3 |
PORTFOLIO
COMPOSITION BY COUNTRY
AS
OF April
30, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS |
United
States |
40.9% |
Germany |
11.5 |
Switzerland |
7.1 |
South
Korea |
6.0 |
Japan |
5.8 |
France |
5.4 |
Spain |
4.4 |
United
Kingdom |
4.4 |
Sweden |
2.7 |
Finland |
2.5 |
Italy |
2.3 |
Canada |
1.7 |
Ireland |
1.5 |
Netherlands |
1.1 |
Denmark |
1.1 |
China |
1.0 |
Others
(each less than 1.0%) |
0.3 |
Short-Term
Investments |
0.3 |
4
|
J.P.
Morgan Exchange-Traded Funds
|
April
30, 2023
|
|
INCEPTION
DATE |
SIX
MONTHS* |
1
YEAR |
SINCE
INCEPTION |
JPMorgan
Climate Change Solutions ETF |
|
|
| |
Net
Asset Value |
December
13, 2021 |
11.44
% |
4.90
% |
(12.94
)% |
Market
Price |
|
11.31 |
5.10 |
(12.75
) |
| |
* |
Not
annualized. |
April
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
5
|
REPORTING
PERIOD RETURN: |
|
Net
Asset Value * |
14.39% |
Market
Price ** |
14.36% |
MSCI
ACWI Index (net total return) |
12.68% |
Net
Assets as of 4/30/2023 |
$12,119,919 |
Fund
Ticker |
UPWD |
6
|
J.P.
Morgan Exchange-Traded Funds
|
April
30, 2023
|
TOP
TEN HOLDINGS OF THE
PORTFOLIO
AS OF April
30, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS | |
1. |
Microsoft
Corp. |
6.5
% |
2. |
RELX
plc (United Kingdom) |
3.6 |
3. |
Vinci
SA (France) |
3.4 |
4. |
UnitedHealth
Group, Inc. |
3.3 |
5. |
ASML
Holding NV (Netherlands) |
3.0 |
6. |
Novo
Nordisk A/S, Class B (Denmark) |
2.8 |
7. |
HDFC
Bank Ltd., ADR (India) |
2.6 |
8. |
Alphabet,
Inc., Class A |
2.6 |
9. |
Waste
Connections, Inc. |
2.6 |
10. |
IDP
Education Ltd. (Australia) |
2.5 |
PORTFOLIO
COMPOSITION BY COUNTRY
AS
OF April
30, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS |
United
States |
47.3% |
United
Kingdom |
7.5 |
Netherlands |
6.8 |
Japan |
5.6 |
Australia |
3.5 |
France |
3.4 |
Denmark |
2.8 |
India |
2.6 |
Ireland |
2.3 |
Mexico |
2.1 |
Switzerland |
1.8 |
Portugal |
1.6 |
China |
1.6 |
Germany |
1.4 |
Hong
Kong |
1.3 |
Brazil |
1.2 |
Indonesia |
1.1 |
Nigeria |
1.1 |
Belgium |
1.0 |
Peru |
1.0 |
Others
(each less than 1.0%) |
1.4 |
Short-Term
Investments |
1.6 |
April
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
7
|
|
INCEPTION
DATE |
SIX
MONTHS* |
CUMULATIVE
SINCE
INCEPTION |
JPMorgan
Social Advancement ETF |
|
| |
Net
Asset Value |
September
7, 2022 |
14.39
% |
12.84
% |
Market
Price |
|
14.36 |
13.03 |
| |
* |
Not
annualized. |
8
|
J.P.
Morgan Exchange-Traded Funds
|
April
30, 2023
|
REPORTING
PERIOD RETURN: |
|
Net
Asset Value * |
9.29% |
Market
Price ** |
9.03% |
MSCI
ACWI Index (net total return) |
12.68% |
Net
Assets as of 4/30/2023 |
$11,512,327 |
Fund
Ticker |
CIRC |
April
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
9
|
TOP
TEN HOLDINGS OF THE
PORTFOLIO
AS OF April
30, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS | |
1. |
Trane
Technologies plc |
3.1
% |
2. |
Xylem,
Inc. |
2.7 |
3. |
SIG
Group AG (Switzerland) |
2.6 |
4. |
Brambles
Ltd. (Australia) |
2.6 |
5. |
Deere
& Co. |
2.5 |
6. |
Tate
& Lyle plc (United Kingdom) |
2.4 |
7. |
ASML
Holding NV (Netherlands) |
2.4 |
8. |
NIKE,
Inc., Class B |
2.4 |
9. |
UnitedHealth
Group, Inc. |
2.3 |
10. |
Tetra
Tech, Inc. |
2.3 |
PORTFOLIO
COMPOSITION BY COUNTRY
AS
OF April
30, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS |
United
States |
54.3% |
Japan |
6.7 |
Germany |
5.7 |
Switzerland |
5.0 |
United
Kingdom |
3.8 |
Ireland |
2.9 |
Australia |
2.6 |
France |
2.6 |
China |
2.5 |
Netherlands |
2.4 |
Taiwan |
2.2 |
Canada |
2.0 |
Finland |
2.0 |
Denmark |
1.7 |
Norway |
1.6 |
Sweden |
1.1 |
Short-Term
Investments |
0.9 |
10
|
J.P.
Morgan Exchange-Traded Funds
|
April
30, 2023
|
|
INCEPTION
DATE |
SIX
MONTHS* |
CUMULATIVE
SINCE
INCEPTION |
JPMorgan
Sustainable Consumption ETF |
|
| |
Net
Asset Value |
September
7, 2022 |
9.29
% |
7.03
% |
Market
Price |
|
9.03 |
7.10 |
| |
* |
Not
annualized. |
April
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
11
|
REPORTING
PERIOD RETURN: |
|
Net
Asset Value * |
12.05% |
Market
Price ** |
12.09% |
MSCI
ACWI Index (net total return) |
12.68% |
Net
Assets as of 4/30/2023 |
$10,748,408 |
Fund
Ticker |
BLLD |
12
|
J.P.
Morgan Exchange-Traded Funds
|
April
30, 2023
|
TOP
TEN HOLDINGS OF THE
PORTFOLIO
AS OF April
30, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS | |
1. |
Iberdrola
SA (Spain) |
4.1
% |
2. |
SSE
plc (United Kingdom) |
3.6 |
3. |
NextEra
Energy, Inc. |
3.6 |
4. |
HCA
Healthcare, Inc. |
3.5 |
5. |
Union
Pacific Corp. |
3.4 |
6. |
Canadian
National Railway Co. (Canada) |
3.4 |
7. |
Xylem,
Inc. |
3.0 |
8. |
Cellnex
Telecom SA (Spain) |
2.9 |
9. |
Alexandria
Real Estate Equities, Inc. |
2.9 |
10. |
Prologis,
Inc. |
2.8 |
PORTFOLIO
COMPOSITION BY COUNTRY
AS
OF April
30, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS |
United
States |
41.0% |
United
Kingdom |
12.6 |
Spain |
12.3 |
Germany |
4.1 |
Italy |
4.1 |
Australia |
3.6 |
Canada |
3.4 |
France |
2.9 |
China |
2.7 |
Belgium |
2.4 |
South
Korea |
2.0 |
Brazil |
1.5 |
Netherlands |
1.5 |
Austria |
1.1 |
Japan |
1.0 |
Denmark |
1.0 |
Others
(each less than 1.0%) |
0.7 |
Short-Term
Investments |
2.1 |
April
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
13
|
|
INCEPTION
DATE |
SIX
MONTHS* |
CUMULATIVE
SINCE
INCEPTION |
JPMorgan
Sustainable Infrastructure ETF |
|
| |
Net
Asset Value |
September
7, 2022 |
12.05
% |
0.28
% |
Market
Price |
|
12.09 |
0.55 |
| |
* |
Not
annualized. |
14
|
J.P.
Morgan Exchange-Traded Funds
|
April
30, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — 97.7% | ||
Canada
— 1.7% | ||
West
Fraser Timber Co. Ltd. |
5,014 |
362,676 |
China
— 0.9% | ||
Contemporary
Amperex Technology Co. Ltd., Class A |
3,420 |
114,460 |
NARI
Technology Co. Ltd., Class A * |
23,100 |
87,332 |
|
|
201,792 |
Denmark
— 1.0% | ||
Orsted
A/S (a) |
1,074 |
96,392 |
Vestas
Wind Systems A/S * |
4,530 |
125,348 |
|
|
221,740 |
Finland
— 2.5% | ||
UPM-Kymmene
OYJ |
16,602 |
529,445 |
France
— 5.3% | ||
Dassault
Systemes SE |
17,008 |
690,451 |
Neoen
SA (a) |
3,222 |
96,735 |
Nexans
SA |
1,058 |
91,033 |
SPIE
SA |
8,201 |
255,978 |
|
|
1,134,197 |
Germany
— 11.2% | ||
Encavis
AG * |
5,461 |
94,433 |
Infineon
Technologies AG |
24,102 |
877,717 |
Mercedes-Benz
Group AG |
9,737 |
759,350 |
Siemens
AG (Registered) |
4,199 |
692,131 |
|
|
2,423,631 |
Ireland
— 1.5% | ||
Kingspan
Group plc |
4,635 |
321,204 |
Italy
— 2.3% | ||
Ariston
Holding NV |
4,127 |
47,133 |
Prysmian
SpA |
10,964 |
448,709 |
|
|
495,842 |
Japan
— 5.7% | ||
Daikin
Industries Ltd. |
2,300 |
417,752 |
Keyence
Corp. |
1,600 |
721,530 |
Kurita
Water Industries Ltd. |
2,300 |
96,390 |
|
|
1,235,672 |
Netherlands
— 1.1% | ||
Alfen
N.V. *
(a) |
1,415 |
114,487 |
Arcadis
NV |
2,947 |
121,737 |
|
|
236,224 |
Norway
— 0.3% | ||
TOMRA
Systems ASA |
3,974 |
60,939 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
South
Korea — 5.9% | ||
LG
Energy Solution Ltd. * |
1,491 |
649,831 |
Samsung
SDI Co. Ltd. |
1,181 |
612,906 |
|
|
1,262,737 |
Spain
— 4.4% | ||
EDP
Renovaveis SA * |
5,217 |
115,962 |
Iberdrola
SA |
56,455 |
731,549 |
Solaria
Energia y Medio Ambiente SA * |
5,693 |
89,817 |
|
|
937,328 |
Sweden
— 2.6% | ||
Boliden
AB * |
3,391 |
121,184 |
Nibe
Industrier AB, Class B |
39,963 |
447,461 |
|
|
568,645 |
Switzerland
— 6.9% | ||
ABB
Ltd. (Registered) |
18,705 |
674,758 |
DSM-Firmenich
AG * |
830 |
108,615 |
Sika
AG (Registered) |
2,585 |
714,036 |
|
|
1,497,409 |
United
Kingdom — 4.3% | ||
CNH
Industrial NV |
36,976 |
521,361 |
Spirax-Sarco
Engineering plc |
758 |
105,923 |
SSE
plc |
12,652 |
291,922 |
|
|
919,206 |
United
States — 40.1% | ||
AGCO
Corp. |
3,429 |
424,990 |
Array
Technologies, Inc. * |
2,797 |
57,199 |
Autodesk,
Inc. * |
3,190 |
621,380 |
Brookfield
Renewable Corp. |
3,929 |
131,268 |
Carrier
Global Corp. |
15,781 |
659,961 |
Cognex
Corp. |
8,135 |
387,958 |
Deere
& Co. |
1,638 |
619,197 |
Eaton
Corp. plc |
560 |
93,587 |
Enphase
Energy, Inc. * |
488 |
80,130 |
Evoqua
Water Technologies Corp. * |
4,440 |
219,558 |
Johnson
Controls International plc |
1,948 |
116,568 |
Linde
plc |
607 |
224,256 |
NextEra
Energy, Inc. |
9,569 |
733,272 |
Rayonier,
Inc., REIT |
8,711 |
273,177 |
Schneider
Electric SE |
5,268 |
918,697 |
Shoals
Technologies Group, Inc., Class A * |
2,187 |
45,686 |
SolarEdge
Technologies, Inc. * |
716 |
204,511 |
TE
Connectivity Ltd. |
1,589 |
194,446 |
Tetra
Tech, Inc. |
2,254 |
311,886 |
April
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
15
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
United
States — continued | ||
Trane
Technologies plc |
4,752 |
882,969 |
Trex
Co., Inc. * |
2,030 |
110,960 |
Trimble,
Inc. * |
1,638 |
77,150 |
Weyerhaeuser
Co., REIT |
16,883 |
504,971 |
Xylem,
Inc. |
7,318 |
759,901 |
|
|
8,653,678 |
Total
Common Stocks
(Cost
$22,305,287) |
|
21,062,365 |
Short-Term
Investments — 0.3% | ||
Investment
Companies — 0.3% | ||
JPMorgan
Prime Money Market Fund Class IM Shares,
4.95% (b)
(c)(Cost
$70,422) |
70,388 |
70,409 |
Total
Investments — 98.0%
(Cost
$22,375,709) |
|
21,132,774 |
Other
Assets Less Liabilities — 2.0% |
|
432,336 |
NET
ASSETS — 100.0% |
|
21,565,110 |
Percentages
indicated are based on net
assets. |
Abbreviations |
|
OYJ |
Public
Limited Company |
REIT |
Real
Estate Investment Trust |
* |
Non-income
producing security.
|
(a) |
Security
exempt from registration pursuant to Regulation S under
the
Securities Act of 1933, as amended. Regulation S applies to
securities
offerings that are made outside of the United States and
do
not involve direct selling efforts in the United States and as
such
may have restrictions on resale. |
(b) |
Investment
in an affiliated fund, which is registered under the
Investment
Company Act of 1940, as amended, and is advised by
J.P.
Morgan Investment Management Inc. |
(c) |
The
rate shown is the current yield as of April 30,
2023. |
INDUSTRY |
PERCENT
OF
TOTAL
INVESTMENTS |
Electrical
Equipment |
16.2
% |
Building
Products |
14.0 |
Machinery |
13.3 |
Electronic
Equipment, Instruments & Components |
9.4 |
Electric
Utilities |
8.8 |
Software |
6.2 |
Semiconductors
& Semiconductor Equipment |
5.5 |
Chemicals |
4.4 |
Paper
& Forest Products |
4.2 |
Specialized
REITs |
3.7 |
Automobiles |
3.6 |
Industrial
Conglomerates |
3.3 |
Commercial
Services & Supplies |
2.7 |
Independent
Power and Renewable Electricity Producers |
2.5 |
Others
(each less than 1.0%) |
1.9 |
Short-Term
Investments |
0.3 |
16
|
J.P.
Morgan Exchange-Traded Funds
|
April
30, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — 97.6% | ||
Australia
— 3.5% | ||
IDP
Education Ltd. |
16,045 |
301,434 |
Stockland,
REIT |
39,708 |
117,709 |
|
|
419,143 |
Belgium
— 1.0% | ||
KBC
Group NV |
1,763 |
126,034 |
Brazil
— 1.2% | ||
Raia
Drogasil SA |
28,008 |
147,570 |
China
— 1.6% | ||
NXP
Semiconductors NV |
1,152 |
188,628 |
Denmark
— 2.7% | ||
Novo
Nordisk A/S, Class B |
1,991 |
331,212 |
France
— 3.4% | ||
Vinci
SA |
3,321 |
410,778 |
Germany
— 1.4% | ||
adidas
AG |
946 |
166,596 |
Hong
Kong — 1.3% | ||
AIA
Group Ltd. |
14,800 |
161,129 |
India
— 2.6% | ||
HDFC
Bank Ltd., ADR * |
4,518 |
315,356 |
Indonesia
— 1.1% | ||
Bank
Rakyat Indonesia Persero Tbk. PT |
376,200 |
131,098 |
Ireland
— 2.2% | ||
Kerry
Group plc, Class A |
1,250 |
131,656 |
Kingspan
Group plc |
2,041 |
141,441 |
|
|
273,097 |
Japan
— 5.5% | ||
Katitas
Co. Ltd. |
5,400 |
105,456 |
LITALICO,
Inc. |
3,100 |
55,552 |
Recruit
Holdings Co. Ltd. |
3,800 |
106,604 |
T&D
Holdings, Inc. |
9,900 |
121,239 |
Tokio
Marine Holdings, Inc. |
5,400 |
108,578 |
Tokyo
Electron Ltd. |
1,500 |
171,758 |
|
|
669,187 |
Mexico
— 2.1% | ||
Wal-Mart
de Mexico SAB de CV |
63,621 |
256,437 |
Netherlands
— 6.8% | ||
ASML
Holding NV |
568 |
360,460 |
Koninklijke
Ahold Delhaize NV |
8,075 |
277,656 |
NN
Group NV |
4,854 |
181,008 |
|
|
819,124 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Nigeria
— 1.0% | ||
Airtel
Africa plc (a) |
84,262 |
127,196 |
Peru
— 1.0% | ||
Credicorp
Ltd. |
909 |
123,151 |
Portugal
— 1.6% | ||
Jeronimo
Martins SGPS SA |
7,874 |
198,702 |
Puerto
Rico — 0.5% | ||
EVERTEC,
Inc. |
1,737 |
60,257 |
South
Africa — 0.9% | ||
Vodacom
Group Ltd. |
15,838 |
108,559 |
Switzerland
— 1.8% | ||
DSM-Firmenich
AG * |
1,067 |
139,629 |
Sika
AG (Registered) |
274 |
75,685 |
|
|
215,314 |
United
Kingdom — 7.5% | ||
AstraZeneca
plc |
1,203 |
177,037 |
Reckitt
Benckiser Group plc |
1,557 |
125,821 |
RELX
plc |
13,046 |
434,676 |
Taylor
Wimpey plc |
102,781 |
165,875 |
|
|
903,409 |
United
States — 46.9% | ||
AbbVie,
Inc. |
1,530 |
231,214 |
Alphabet,
Inc., Class A * |
2,907 |
312,037 |
Analog
Devices, Inc. |
909 |
163,511 |
Boston
Scientific Corp. * |
5,329 |
277,748 |
CSX
Corp. |
2,844 |
87,140 |
Deere
& Co. |
640 |
241,933 |
Dollar
General Corp. |
537 |
118,924 |
DR
Horton, Inc. |
1,845 |
202,618 |
Fiserv,
Inc. * |
1,134 |
138,484 |
HCA
Healthcare, Inc. |
218 |
62,638 |
Intuitive
Surgical, Inc. * |
811 |
244,289 |
Lam
Research Corp. |
304 |
159,320 |
Mastercard,
Inc., Class A |
747 |
283,882 |
Microsoft
Corp. |
2,557 |
785,664 |
NIKE,
Inc., Class B |
1,580 |
200,218 |
Pathward
Financial, Inc. |
1,854 |
82,559 |
Roche
Holding AG |
502 |
157,196 |
Skyline
Champion Corp. * |
2,709 |
200,927 |
SLM
Corp. |
5,463 |
82,054 |
Sun
Communities, Inc., REIT |
1,233 |
171,301 |
Thermo
Fisher Scientific, Inc. |
278 |
154,262 |
Union
Pacific Corp. |
720 |
140,904 |
April
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
17
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
United
States — continued | ||
UnitedHealth
Group, Inc. |
798 |
392,688 |
Vertex
Pharmaceuticals, Inc. * |
681 |
232,037 |
Visa,
Inc., Class A |
1,075 |
250,185 |
Waste
Connections, Inc. |
2,215 |
308,217 |
|
|
5,681,950 |
Total
Common Stocks
(Cost
$10,411,087) |
|
11,833,927 |
Short-Term
Investments — 1.6% | ||
Investment
Companies — 1.6% | ||
JPMorgan
Prime Money Market Fund Class IM
Shares,
4.95% (b)
(c)(Cost
$189,162) |
189,140 |
189,197 |
Total
Investments — 99.2%
(Cost
$10,600,249) |
|
12,023,124 |
Other
Assets Less Liabilities — 0.8% |
|
96,795 |
NET
ASSETS — 100.0% |
|
12,119,919 |
Percentages
indicated are based on net
assets. |
Abbreviations |
|
ADR |
American
Depositary Receipt |
PT |
Limited
liability company |
REIT |
Real
Estate Investment Trust |
SGPS |
Holding
company |
* |
Non-income
producing security.
|
(a) |
Security
exempt from registration pursuant to Regulation S under
the
Securities Act of 1933, as amended. Regulation S applies to
securities
offerings that are made outside of the United States and
do
not involve direct selling efforts in the United States and as
such
may have restrictions on resale. |
(b) |
Investment
in an affiliated fund, which is registered under the
Investment
Company Act of 1940, as amended, and is advised by
J.P.
Morgan Investment Management Inc. |
(c) |
The
rate shown is the current yield as of April 30,
2023. |
INDUSTRY |
PERCENT
OF
TOTAL
INVESTMENTS |
Semiconductors
& Semiconductor Equipment |
8.7
% |
Consumer
Staples Distribution & Retail |
8.3 |
Pharmaceuticals |
6.7 |
Software |
6.5 |
Banks |
6.5 |
Financial
Services |
6.1 |
Insurance |
4.8 |
Household
Durables |
4.7 |
Professional
Services |
4.5 |
Health
Care Equipment & Supplies |
4.3 |
Biotechnology |
3.8 |
Health
Care Providers & Services |
3.8 |
Construction
& Engineering |
3.4 |
Textiles,
Apparel & Luxury Goods |
3.0 |
Diversified
Consumer Services |
3.0 |
Interactive
Media & Services |
2.6 |
Commercial
Services & Supplies |
2.6 |
Machinery |
2.0 |
Wireless
Telecommunication Services |
2.0 |
Ground
Transportation |
1.9 |
Residential
REITs |
1.4 |
Life
Sciences Tools & Services |
1.3 |
Building
Products |
1.2 |
Food
Products |
1.1 |
Household
Products |
1.0 |
Diversified
REITs |
1.0 |
Others
(each less than 1.0%) |
2.2 |
Short-Term
Investments |
1.6 |
18
|
J.P.
Morgan Exchange-Traded Funds
|
April
30, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — 98.2% | ||
Australia
— 2.6% | ||
Brambles
Ltd. |
31,044 |
294,074 |
Canada
— 2.0% | ||
Ritchie
Bros Auctioneers, Inc. |
1,216 |
69,575 |
West
Fraser Timber Co. Ltd. |
2,217 |
160,362 |
|
|
229,937 |
China
— 2.5% | ||
Chacha
Food Co. Ltd., Class A * |
8,400 |
52,591 |
NXP
Semiconductors NV |
1,416 |
231,856 |
|
|
284,447 |
Denmark
— 1.7% | ||
Novo
Nordisk A/S, Class B |
1,195 |
198,794 |
Finland
— 1.9% | ||
Neste
OYJ |
2,265 |
109,772 |
UPM-Kymmene
OYJ |
3,538 |
112,828 |
|
|
222,600 |
France
— 2.6% | ||
Dassault
Systemes SE |
3,466 |
140,704 |
Legrand
SA |
1,613 |
152,677 |
|
|
293,381 |
Germany
— 5.6% | ||
GEA
Group AG |
2,971 |
139,735 |
Infineon
Technologies AG |
6,058 |
220,613 |
Siemens
AG (Registered) |
926 |
152,635 |
Symrise
AG |
1,130 |
136,529 |
|
|
649,512 |
Ireland
— 2.9% | ||
Kerry
Group plc, Class A |
1,865 |
196,431 |
Kingspan
Group plc |
1,966 |
136,243 |
|
|
332,674 |
Japan
— 6.6% | ||
FANUC
Corp. |
5,500 |
185,742 |
Hitachi
Ltd. |
2,100 |
116,161 |
Keyence
Corp. |
500 |
225,478 |
Kurita
Water Industries Ltd. |
2,300 |
96,390 |
Topcon
Corp. |
9,900 |
141,017 |
|
|
764,788 |
Netherlands
— 2.4% | ||
ASML
Holding NV |
430 |
272,883 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Norway
— 1.5% | ||
Norsk
Hydro ASA |
15,451 |
113,705 |
TOMRA
Systems ASA |
4,095 |
62,794 |
|
|
176,499 |
Sweden
— 1.1% | ||
Boliden
AB * |
3,490 |
124,722 |
Switzerland
— 5.0% | ||
DSM-Firmenich
AG * |
1,154 |
151,014 |
SIG
Group AG |
11,064 |
296,135 |
Sika
AG (Registered) |
465 |
128,444 |
|
|
575,593 |
Taiwan
— 2.2% | ||
Taiwan
Semiconductor Manufacturing Co. Ltd., ADR |
3,033 |
255,682 |
United
Kingdom — 3.8% | ||
CNH
Industrial NV |
11,511 |
162,305 |
Tate
& Lyle plc |
26,799 |
274,793 |
|
|
437,098 |
United
States — 53.8% | ||
AGCO
Corp. |
1,033 |
128,030 |
Airbnb,
Inc., Class A * |
651 |
77,905 |
Autodesk,
Inc. * |
1,204 |
234,527 |
Cadence
Design Systems, Inc. * |
706 |
147,872 |
Carrier
Global Corp. |
4,872 |
203,747 |
Danaher
Corp. |
1,080 |
255,863 |
Darling
Ingredients, Inc. * |
2,651 |
157,920 |
Deere
& Co. |
743 |
280,869 |
Dover
Corp. |
1,393 |
203,601 |
Ecolab,
Inc. |
1,538 |
258,138 |
Elevance
Health, Inc. |
373 |
174,806 |
Energy
Recovery, Inc. * |
3,977 |
89,602 |
Evoqua
Water Technologies Corp. * |
1,558 |
77,043 |
General
Mills, Inc. |
1,144 |
101,393 |
Hologic,
Inc. * |
1,029 |
88,504 |
International
Flavors & Fragrances, Inc. |
1,284 |
124,497 |
Intuitive
Surgical, Inc. * |
435 |
131,031 |
LKQ
Corp. |
2,459 |
141,958 |
Nestle
SA (Registered) |
1,531 |
196,411 |
NIKE,
Inc., Class B |
2,152 |
272,701 |
Rayonier,
Inc., REIT |
4,117 |
129,109 |
Roche
Holding AG |
687 |
215,127 |
Rockwell
Automation, Inc. |
574 |
162,677 |
Schneider
Electric SE |
1,063 |
185,379 |
Sprouts
Farmers Market, Inc. * |
2,002 |
69,389 |
April
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
19
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
United
States — continued | ||
Tetra
Tech, Inc. |
1,882 |
260,412 |
Trane
Technologies plc |
1,913 |
355,455 |
Trex
Co., Inc. * |
2,415 |
132,004 |
Trimble,
Inc. * |
4,576 |
215,530 |
UnitedHealth
Group, Inc. |
530 |
260,808 |
Valmont
Industries, Inc. |
553 |
160,680 |
Weyerhaeuser
Co., REIT |
8,071 |
241,404 |
Xylem,
Inc. |
2,910 |
302,174 |
Zoetis,
Inc. |
891 |
156,620 |
|
|
6,193,186 |
Total
Common Stocks
(Cost
$10,631,916) |
|
11,305,870 |
Short-Term
Investments — 0.9% | ||
Investment
Companies — 0.9% | ||
JPMorgan
Prime Money Market Fund Class IM Shares,
4.95% (a)
(b)(Cost
$97,937) |
97,908 |
97,938 |
Total
Investments — 99.1%
(Cost
$10,729,853) |
|
11,403,808 |
Other
Assets Less Liabilities — 0.9% |
|
108,519 |
NET
ASSETS — 100.0% |
|
11,512,327 |
Percentages
indicated are based on net
assets. |
Abbreviations |
|
ADR |
American
Depositary Receipt |
OYJ |
Public
Limited Company |
REIT |
Real
Estate Investment Trust |
* |
Non-income
producing security.
|
(a) |
Investment
in an affiliated fund, which is registered under the
Investment
Company Act of 1940, as amended, and is advised by
J.P.
Morgan Investment Management Inc. |
(b) |
The
rate shown is the current yield as of April 30,
2023. |
INDUSTRY |
PERCENT
OF
TOTAL
INVESTMENTS |
Machinery |
15.1
% |
Semiconductors
& Semiconductor Equipment |
8.6 |
Food
Products |
8.6 |
Building
Products |
7.3 |
Pharmaceuticals |
6.3 |
Chemicals |
5.7 |
Commercial
Services & Supplies |
5.5 |
Electronic
Equipment, Instruments & Components |
5.1 |
Software |
4.6 |
Electrical
Equipment |
4.4 |
Health
Care Providers & Services |
3.8 |
Specialized
REITs |
3.2 |
Containers
& Packaging |
2.6 |
Paper
& Forest Products |
2.4 |
Textiles,
Apparel & Luxury Goods |
2.4 |
Industrial
Conglomerates |
2.4 |
Life
Sciences Tools & Services |
2.2 |
Metals
& Mining |
2.1 |
Health
Care Equipment & Supplies |
1.9 |
Construction
& Engineering |
1.4 |
Distributors |
1.2 |
Oil,
Gas & Consumable Fuels |
1.0 |
Others
(each less than 1.0%) |
1.3 |
Short-Term
Investments |
0.9 |
20
|
J.P.
Morgan Exchange-Traded Funds
|
April
30, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — 97.6% | ||
Australia
— 3.6% | ||
Goodman
Group, REIT |
16,348 |
210,752 |
NEXTDC
Ltd. * |
15,926 |
122,209 |
Ramsay
Health Care Ltd. |
1,199 |
51,559 |
|
|
384,520 |
Austria
— 1.1% | ||
Verbund
AG |
1,298 |
115,601 |
Belgium
— 2.4% | ||
Cofinimmo
SA, REIT |
1,155 |
110,343 |
Elia
Group SA/NV |
587 |
80,489 |
Warehouses
De Pauw CVA, REIT |
2,346 |
70,149 |
|
|
260,981 |
Brazil
— 1.5% | ||
Transmissora
Alianca de Energia Eletrica SA |
22,692 |
165,647 |
Canada
— 3.4% | ||
Canadian
National Railway Co. |
3,023 |
360,553 |
China
— 2.7% | ||
China
Longyuan Power Group Corp. Ltd., Class H |
66,000 |
69,265 |
Contemporary
Amperex Technology Co. Ltd., Class A |
1,620 |
54,218 |
NARI
Technology Co. Ltd., Class A * |
44,500 |
168,237 |
|
|
291,720 |
Denmark
— 1.0% | ||
Orsted
A/S (a) |
1,181 |
105,995 |
France
— 2.9% | ||
Engie
SA |
12,582 |
201,366 |
Getlink
SE |
3,409 |
63,712 |
Neoen
SA (a) |
1,442 |
43,293 |
|
|
308,371 |
Germany
— 4.1% | ||
E.ON
SE |
12,163 |
160,889 |
Encavis
AG * |
2,849 |
49,266 |
Vonovia
SE |
10,796 |
234,149 |
|
|
444,304 |
Italy
— 4.0% | ||
Enel
SpA |
15,723 |
107,421 |
Infrastrutture
Wireless Italiane SpA (a) |
4,955 |
68,773 |
Terna
- Rete Elettrica Nazionale |
29,838 |
258,270 |
|
|
434,464 |
Japan
— 1.0% | ||
Kurita
Water Industries Ltd. |
2,600 |
108,963 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Netherlands
— 1.5% | ||
Alfen
N.V. *
(a) |
2,007 |
162,385 |
Singapore
— 0.7% | ||
Parkway
Life, REIT |
26,500 |
77,180 |
South
Korea — 2.0% | ||
Samsung
SDI Co. Ltd. |
415 |
215,374 |
Spain
— 12.2% | ||
Cellnex
Telecom SA (a) |
7,372 |
310,391 |
Corp.
ACCIONA Energias Renovables SA * |
4,931 |
177,058 |
EDP
Renovaveis SA * |
4,792 |
106,515 |
Endesa
SA |
8,565 |
192,136 |
Iberdrola
SA |
33,538 |
434,589 |
Solaria
Energia y Medio Ambiente SA * |
5,942 |
93,745 |
|
|
1,314,434 |
United
Kingdom — 12.6% | ||
Assura
plc, REIT |
313,292 |
200,408 |
Grainger
plc |
54,131 |
175,923 |
LondonMetric
Property plc, REIT |
52,238 |
126,690 |
National
Grid plc |
5,844 |
83,791 |
SSE
plc |
16,967 |
391,483 |
UNITE
Group plc (The), REIT |
18,238 |
220,065 |
United
Utilities Group plc |
11,318 |
153,749 |
|
|
1,352,109 |
United
States — 40.9% | ||
Alexandria
Real Estate Equities, Inc., REIT |
2,475 |
307,345 |
American
Tower Corp., REIT |
731 |
149,409 |
CMS
Energy Corp. |
3,331 |
207,388 |
Enphase
Energy, Inc. * |
407 |
66,829 |
Equinix,
Inc., REIT |
312 |
225,913 |
Essential
Utilities, Inc. |
2,494 |
106,494 |
Hannon
Armstrong Sustainable Infrastructure
Capital,
Inc., REIT |
2,186 |
62,039 |
HCA
Healthcare, Inc. |
1,323 |
380,138 |
Itron,
Inc. * |
1,193 |
63,706 |
Medical
Properties Trust, Inc., REIT |
12,233 |
107,283 |
NextEra
Energy, Inc. |
5,024 |
384,989 |
Norfolk
Southern Corp. |
508 |
103,139 |
Physicians
Realty Trust, REIT |
3,554 |
51,249 |
Prologis,
Inc., REIT |
2,415 |
302,479 |
SBA
Communications Corp., REIT |
691 |
180,275 |
Sempra
Energy |
1,083 |
168,396 |
Skyline
Champion Corp. * |
1,031 |
76,469 |
SolarEdge
Technologies, Inc. * |
738 |
210,795 |
Union
Pacific Corp. |
1,857 |
363,415 |
April
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
21
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
United
States — continued | ||
Ventas,
Inc., REIT |
3,249 |
156,114 |
Welltower,
Inc., REIT |
3,095 |
245,186 |
Weyerhaeuser
Co., REIT |
4,925 |
147,307 |
Xylem,
Inc. |
3,121 |
324,085 |
|
|
4,390,442 |
Total
Common Stocks
(Cost
$10,441,323) |
|
10,493,043 |
Short-Term
Investments — 2.2% | ||
Investment
Companies — 2.2% | ||
JPMorgan
Prime Money Market Fund Class IM
Shares,
4.95% (b)
(c)(Cost
$229,764) |
229,690 |
229,759 |
Total
Investments — 99.8%
(Cost
$10,671,087) |
|
10,722,802 |
Other
Assets Less Liabilities — 0.2% |
|
25,606 |
NET
ASSETS — 100.0% |
|
10,748,408 |
Percentages
indicated are based on net
assets. |
Abbreviations |
|
CVA |
Dutch
Certification |
REIT |
Real
Estate Investment Trust |
* |
Non-income
producing security.
|
(a) |
Security
exempt from registration pursuant to Regulation S under
the
Securities Act of 1933, as amended. Regulation S applies to
securities
offerings that are made outside of the United States and
do
not involve direct selling efforts in the United States and as
such
may have restrictions on resale. |
(b) |
Investment
in an affiliated fund, which is registered under the
Investment
Company Act of 1940, as amended, and is advised by
J.P.
Morgan Investment Management Inc. |
(c) |
The
rate shown is the current yield as of April 30,
2023. |
INDUSTRY |
PERCENT
OF
TOTAL
INVESTMENTS |
Electric
Utilities |
20.9
% |
Health
Care REITs |
8.8 |
Ground
Transportation |
7.7 |
Multi-Utilities |
7.7 |
Industrial
REITs |
6.6 |
Specialized
REITs |
6.6 |
Independent
Power and Renewable Electricity Producers |
5.0 |
Machinery |
4.0 |
Health
Care Providers & Services |
4.0 |
Real
Estate Management & Development |
3.8 |
Electrical
Equipment |
3.6 |
Diversified
Telecommunication Services |
3.5 |
Office
REITs |
2.9 |
Electronic
Equipment, Instruments & Components |
2.6 |
Semiconductors
& Semiconductor Equipment |
2.6 |
Water
Utilities |
2.4 |
Residential
REITs |
2.1 |
IT
Services |
1.2 |
Others
(each less than 1.0%) |
1.9 |
Short-Term
Investments |
2.1 |
22
|
J.P.
Morgan Exchange-Traded Funds
|
April
30, 2023
|
|
JPMorgan
Climate
Change
Solutions
ETF |
JPMorgan
Social
Advancement
ETF |
JPMorgan
Sustainable
Consumption
ETF |
JPMorgan
Sustainable
Infrastructure
ETF |
ASSETS: |
|
|
|
|
Investments
in non-affiliates, at value |
$21,062,365 |
$11,833,927 |
$11,305,870 |
$10,493,043 |
Investments
in affiliates, at value |
70,409 |
189,197 |
97,938 |
229,759 |
Cash |
394,030 |
71,833 |
87,408 |
52,994 |
Foreign
currency, at value |
— |
— |
— |
694 |
Receivables: |
|
|
|
|
Investment
securities sold |
— |
— |
— |
333,806 |
Dividends
from non-affiliates |
25,929 |
28,400 |
21,289 |
7,849 |
Dividends
from affiliates |
9 |
26 |
13 |
31 |
Tax
reclaims |
23,209 |
3,397 |
5,021 |
662 |
Total
Assets |
21,575,951 |
12,126,780 |
11,517,539 |
11,118,838 |
LIABILITIES: |
|
|
|
|
Payables: |
|
|
|
|
Foreign
currency due to custodian, at value |
2,121 |
2,105 |
584 |
— |
Investment
securities purchased |
— |
— |
— |
366,145 |
Accrued
liabilities: |
|
|
|
|
Management
fees (See
Note 3.A.) |
8,720 |
4,756 |
4,628 |
4,285 |
Total
Liabilities |
10,841 |
6,861 |
5,212 |
370,430 |
Net
Assets |
$21,565,110 |
$12,119,919 |
$11,512,327 |
$10,748,408 |
NET
ASSETS: |
|
|
|
|
Paid-in-Capital |
$26,388,065 |
$10,723,102 |
$10,721,311 |
$10,624,193 |
Total
distributable earnings (loss) |
(4,822,955
) |
1,396,817 |
791,016 |
124,215 |
Total
Net Assets |
$21,565,110 |
$12,119,919 |
$11,512,327 |
$10,748,408 |
Outstanding
number of shares
(unlimited
number of shares authorized - par value
$0.0001) |
550,000 |
225,000 |
225,000 |
225,000 |
Net
asset value, per share |
$39.21 |
$53.87 |
$51.17 |
$47.77 |
Cost
of investments in non-affiliates |
$22,305,287 |
$10,411,087 |
$10,631,916 |
$10,441,323 |
Cost
of investments in affiliates |
70,422 |
189,162 |
97,937 |
229,764 |
Cost
of foreign currency |
— |
— |
— |
696 |
April
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
23
|
|
JPMorgan
Climate
Change
Solutions
ETF
|
JPMorgan
Social
Advancement
ETF
|
JPMorgan
Sustainable
Consumption
ETF
|
JPMorgan
Sustainable
Infrastructure
ETF
|
INVESTMENT
INCOME: |
|
|
|
|
Interest
income from non-affiliates |
$1 |
$5 |
$30 |
$37 |
Interest
income from affiliates |
1,301 |
337 |
332 |
333 |
Dividend
income from non-affiliates |
146,053 |
115,465 |
95,521 |
100,826 |
Dividend
income from affiliates |
1,933 |
7,117 |
2,915 |
4,109 |
Non-cash
dividend income from non-affiliates |
10,997 |
— |
— |
6,914 |
Income
from securities lending (net) (See
Note 2.C.) |
288 |
— |
— |
— |
Foreign
taxes withheld (net) |
(12,855
) |
(10,157
) |
(5,722
) |
(8,144
) |
Total
investment income |
147,718 |
112,767 |
93,076 |
104,075 |
EXPENSES: |
|
|
|
|
Management
fees (See
Note 3.A.) |
52,091 |
27,635 |
27,504 |
25,506 |
Total
expenses |
52,091 |
27,635 |
27,504 |
25,506 |
Net
investment income (loss) |
95,627 |
85,132 |
65,572 |
78,569 |
REALIZED/UNREALIZED
GAINS (LOSSES): |
|
|
|
|
Net
realized gain (loss) on transactions from: |
|
|
|
|
Investments
in non-affiliates |
(519,366
) |
(24,254
) |
67,806 |
30,991 |
Investments
in affiliates |
35 |
(90
) |
(9
) |
(3
) |
Foreign
currency transactions |
(3,452
) |
1,922 |
1,788 |
1,155 |
Net
realized gain (loss) |
(522,783
) |
(22,422
) |
69,585 |
32,143 |
Change
in net unrealized appreciation/depreciation on: |
|
|
|
|
Investments
in non-affiliates |
2,651,243 |
1,464,272 |
845,426 |
1,048,805 |
Investments
in affiliates |
(13
) |
107 |
89 |
28 |
Foreign
currency translations |
1,588 |
178 |
79 |
(7
) |
Change
in net unrealized appreciation/depreciation |
2,652,818 |
1,464,557 |
845,594 |
1,048,826 |
Net
realized/unrealized gains (losses) |
2,130,035 |
1,442,135 |
915,179 |
1,080,969 |
Change
in net assets resulting from operations |
$2,225,662 |
$1,527,267 |
$980,751 |
$1,159,538 |
24
|
J.P.
Morgan Exchange-Traded Funds
|
April
30, 2023
|
|
JPMorgan
Climate
Change Solutions ETF |
JPMorgan
Social
Advancement
ETF | ||
|
Six
Months Ended
April
30, 2023
(Unaudited) |
Period
Ended
October
31, 2022 (a) |
Six
Months Ended
April
30, 2023
(Unaudited) |
Period
Ended October
31, 2022 (b) |
CHANGE
IN NET ASSETS RESULTING FROM OPERATIONS: |
|
|
|
|
Net
investment income (loss) |
$95,627 |
$236,078 |
$85,132 |
$14,136 |
Net
realized gain (loss) |
(522,783
) |
(3,152,866
) |
(22,422
) |
(42,592
) |
Change
in net unrealized appreciation/depreciation |
2,652,818 |
(3,895,303
) |
1,464,557 |
(41,602
) |
Change
in net assets resulting from operations |
2,225,662 |
(6,812,091
) |
1,527,267 |
(70,058
) |
DISTRIBUTIONS
TO SHAREHOLDERS: |
|
|
|
|
Total
distributions to shareholders |
(221,238
) |
(15,288
) |
(60,392
) |
— |
CAPITAL
TRANSACTIONS: |
|
|
|
|
Change
in net assets resulting from capital transactions |
— |
26,388,065 |
— |
10,723,102 |
NET
ASSETS: |
|
|
|
|
Change
in net assets |
2,004,424 |
19,560,686 |
1,466,875 |
10,653,044 |
Beginning
of period |
19,560,686 |
— |
10,653,044 |
— |
End
of period |
$21,565,110 |
$19,560,686 |
$12,119,919 |
$10,653,044 |
CAPITAL
TRANSACTIONS: |
|
|
|
|
Proceeds
from shares issued |
$— |
$26,388,065 |
$— |
$10,723,102 |
Total
change in net assets resulting from capital
transactions |
$— |
$26,388,065 |
$— |
$10,723,102 |
SHARE
TRANSACTIONS: |
|
|
|
|
Issued |
— |
550,000 |
— |
225,000 |
Net
increase (decrease) in shares from share
transactions |
— |
550,000 |
— |
225,000 |
April
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
25
|
|
JPMorgan
Sustainable
Consumption
ETF |
JPMorgan
Sustainable
Infrastructure
ETF | ||
|
Six
Months Ended
April
30, 2023
(Unaudited) |
Period
Ended
October
31, 2022 (a) |
Six
Months Ended
April
30, 2023
(Unaudited) |
Period
Ended October
31, 2022 (a) |
CHANGE
IN NET ASSETS RESULTING FROM OPERATIONS: |
|
|
|
|
Net
investment income (loss) |
$65,572 |
$9,414 |
$78,569 |
$8,521 |
Net
realized gain (loss) |
69,585 |
16,687 |
32,143 |
29,434 |
Change
in net unrealized appreciation/depreciation |
845,594 |
(171,673
) |
1,048,826 |
(997,062
) |
Change
in net assets resulting from operations |
980,751 |
(145,572
) |
1,159,538 |
(959,107
) |
DISTRIBUTIONS
TO SHAREHOLDERS: |
|
|
|
|
Total
distributions to shareholders |
(44,163
) |
— |
(76,216
) |
— |
CAPITAL
TRANSACTIONS: |
|
|
|
|
Change
in net assets resulting from capital transactions |
— |
10,721,311 |
— |
10,624,193 |
NET
ASSETS: |
|
|
|
|
Change
in net assets |
936,588 |
10,575,739 |
1,083,322 |
9,665,086 |
Beginning
of period |
10,575,739 |
— |
9,665,086 |
— |
End
of period |
$11,512,327 |
$10,575,739 |
$10,748,408 |
$9,665,086 |
CAPITAL
TRANSACTIONS: |
|
|
|
|
Proceeds
from shares issued |
$— |
$10,721,311 |
$— |
$10,624,193 |
Total
change in net assets resulting from capital
transactions |
$— |
$10,721,311 |
$— |
$10,624,193 |
SHARE
TRANSACTIONS: |
|
|
|
|
Issued |
— |
225,000 |
— |
225,000 |
Net
increase (decrease) in shares from share
transactions |
— |
225,000 |
— |
225,000 |
26
|
J.P.
Morgan Exchange-Traded Funds
|
April
30, 2023
|
|
Per
share operating performance
| ||||
|
|
Investment
operations |
Distributions
| ||
|
Net
asset
value,
beginning
of
period
|
Net
investment
income
(loss)
(b) |
Net
realized
and
unrealized
gains
(losses)
on
investments
|
Total
from
investment
operations
|
Net
investment
income |
JPMorgan
Climate Change Solutions ETF |
|
|
|
|
|
Six
Months Ended April 30, 2023 (Unaudited) |
$35.56 |
$0.17 |
$3.88 |
$4.05 |
$(0.40
) |
December
13, 2021 (f)
through October 31, 2022
|
48.00 |
0.43 |
(12.84
) |
(12.41
) |
(0.03
) |
JPMorgan
Social Advancement ETF |
|
|
|
|
|
Six
Months Ended April 30, 2023 (Unaudited) |
47.35 |
0.38 |
6.41 |
6.79 |
(0.27
) |
September
7, 2022 (f)
through October 31, 2022
|
48.00 |
0.07 |
(0.72
) |
(0.65
) |
— |
JPMorgan
Sustainable Consumption ETF |
|
|
|
|
|
Six
Months Ended April 30, 2023 (Unaudited) |
47.00 |
0.29 |
4.08 |
4.37 |
(0.20
) |
September
7, 2022 (f)
through October 31, 2022
|
48.00 |
0.04 |
(1.04
) |
(1.00
) |
— |
JPMorgan
Sustainable Infrastructure ETF |
|
|
|
|
|
Six
Months Ended April 30, 2023 (Unaudited) |
42.96 |
0.35 |
4.80 |
5.15 |
(0.34
) |
September
7, 2022 (f)
through October 31, 2022
|
48.00 |
0.04 |
(5.08
) |
(5.04
) |
— |
| |
(a) |
Annualized
for periods less than one year, unless otherwise
noted. |
(b) |
Calculated
based upon average shares outstanding. |
(c) |
Not
annualized for periods less than one year. |
(d) |
Includes
adjustments in accordance with accounting principles generally accepted in
the United States of America and as such, the net asset values for
financial
reporting
purposes and the returns based upon those net asset values may differ from
the net asset values and returns for shareholder
transactions. |
(e) |
Market
price return was calculated assuming an initial investment made at the
market price at the beginning of the reporting period, reinvestment of all
dividends
and distributions at market price during the period, and sale at the
market price on the last day of the period. The closing price was used to
calculate
the
market price return. |
(f) |
Commencement
of operations. |
(g) |
Since
the Shares of the Fund did not trade in the secondary market until the day
after the Fund’s inception, for the period from the inception to the first
day of
secondary
market trading, the net asset value is used as a proxy for the secondary
market trading price to calculate the market
returns. |
28
|
J.P.
Morgan Exchange-Traded Funds
|
April
30, 2023
|
|
Ratios/Supplemental
data
| ||||||
|
|
|
|
|
Ratios
to average net assets (a) |
| |
Net
asset
value,
end
of
period
|
Market
price,
end
of
period
|
Total
return
(c)(d) |
Market
price
total
return
(c)(e) |
Net
assets,
end
of
period
|
Net
expenses |
Net
investment
income
(loss)
|
Portfolio
turnover
rate
(c) |
|
|
|
|
|
|
|
|
$39.21 |
$39.33 |
11.44
% |
11.31
% |
$21,565,110 |
0.49
% |
0.90
% |
15
% |
35.56 |
35.71 |
(25.87
) |
(25.56
)(g) |
19,560,686 |
0.49 |
1.26 |
32 |
|
|
|
|
|
|
|
|
53.87 |
53.96 |
14.39 |
14.36 |
12,119,919 |
0.49 |
1.50 |
12 |
47.35 |
47.44 |
(1.35
) |
(1.17
)(g) |
10,653,044 |
0.49 |
1.00 |
6 |
|
|
|
|
|
|
|
|
51.17 |
51.20 |
9.31 |
9.03 |
11,512,327 |
0.49 |
1.16 |
23 |
47.00 |
47.15 |
(2.08
) |
(1.77
)(g) |
10,575,739 |
0.49 |
0.66 |
1 |
|
|
|
|
|
|
|
|
47.77 |
47.91 |
12.02 |
12.09 |
10,748,408 |
0.49 |
1.50 |
30 |
42.96 |
43.06 |
(10.50
) |
(10.29
)(g) |
9,665,086 |
0.49 |
0.64 |
— |
April
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
29
|
|
Diversification
Classification |
JPMorgan
Climate Change Solutions ETF |
Non-Diversified |
JPMorgan
Social Advancement ETF |
Non-Diversified |
JPMorgan
Sustainable Consumption ETF |
Non-Diversified |
JPMorgan
Sustainable Infrastructure ETF |
Non-Diversified |
|
Listing
Exchange |
Climate
Change Solutions ETF |
NYSE
Arca |
Social
Advancement ETF |
Nasdaq
Stock Market® LLC |
Sustainable
Consumption ETF |
Nasdaq
Stock Market® LLC |
Sustainable
Infrastructure ETF |
Nasdaq
Stock Market® LLC |
30
|
J.P.
Morgan Exchange-Traded Funds
|
April
30, 2023
|
Climate
Change Solutions ETF |
|
| ||
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Investments
in Securities |
|
|
|
|
Common
Stocks |
|
|
|
|
Canada |
$362,676 |
$— |
$— |
$362,676 |
China |
— |
201,792 |
— |
201,792 |
Denmark |
— |
221,740 |
— |
221,740 |
Finland |
— |
529,445 |
— |
529,445 |
France |
— |
1,134,197 |
— |
1,134,197 |
Germany |
— |
2,423,631 |
— |
2,423,631 |
Ireland |
— |
321,204 |
— |
321,204 |
Italy |
— |
495,842 |
— |
495,842 |
Japan |
— |
1,235,672 |
— |
1,235,672 |
Netherlands |
— |
236,224 |
— |
236,224 |
Norway |
— |
60,939 |
— |
60,939 |
South
Korea |
— |
1,262,737 |
— |
1,262,737 |
Spain |
— |
937,328 |
— |
937,328 |
April
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
31
|
Climate
Change Solutions ETF (continued) |
|
| ||
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Sweden |
$— |
$568,645 |
$— |
$568,645 |
Switzerland |
108,615 |
1,388,794 |
— |
1,497,409 |
United
Kingdom |
521,361 |
397,845 |
— |
919,206 |
United
States |
7,734,981 |
918,697 |
— |
8,653,678 |
Total
Common Stocks |
8,727,633 |
12,334,732 |
— |
21,062,365 |
Short-Term
Investments |
|
|
|
|
Investment
Companies |
70,409 |
— |
— |
70,409 |
Total
Investments in Securities |
$8,798,042 |
$12,334,732 |
$— |
$21,132,774 |
Social
Advancement ETF |
|
| ||
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Investments
in Securities |
|
|
|
|
Common
Stocks |
|
|
|
|
Australia |
$— |
$419,143 |
$— |
$419,143 |
Belgium |
— |
126,034 |
— |
126,034 |
Brazil |
147,570 |
— |
— |
147,570 |
China |
188,628 |
— |
— |
188,628 |
Denmark |
— |
331,212 |
— |
331,212 |
France |
— |
410,778 |
— |
410,778 |
Germany |
— |
166,596 |
— |
166,596 |
Hong
Kong |
— |
161,129 |
— |
161,129 |
India |
315,356 |
— |
— |
315,356 |
Indonesia |
— |
131,098 |
— |
131,098 |
Ireland |
— |
273,097 |
— |
273,097 |
Japan |
— |
669,187 |
— |
669,187 |
Mexico |
256,437 |
— |
— |
256,437 |
Netherlands |
— |
819,124 |
— |
819,124 |
Nigeria |
— |
127,196 |
— |
127,196 |
Peru |
123,151 |
— |
— |
123,151 |
Portugal |
— |
198,702 |
— |
198,702 |
Puerto
Rico |
60,257 |
— |
— |
60,257 |
South
Africa |
— |
108,559 |
— |
108,559 |
Switzerland |
139,629 |
75,685 |
— |
215,314 |
United
Kingdom |
— |
903,409 |
— |
903,409 |
United
States |
5,524,754 |
157,196 |
— |
5,681,950 |
Total
Common Stocks |
6,755,782 |
5,078,145 |
— |
11,833,927 |
Short-Term
Investments |
|
|
|
|
Investment
Companies |
189,197 |
— |
— |
189,197 |
Total
Investments in Securities |
$6,944,979 |
$5,078,145 |
$— |
$12,023,124 |
32
|
J.P.
Morgan Exchange-Traded Funds
|
April
30, 2023
|
Sustainable
Consumption ETF |
|
| ||
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Investments
in Securities |
|
|
|
|
Common
Stocks |
|
|
|
|
Australia |
$— |
$294,074 |
$— |
$294,074 |
Canada |
229,937 |
— |
— |
229,937 |
China |
231,856 |
52,591 |
— |
284,447 |
Denmark |
— |
198,794 |
— |
198,794 |
Finland |
— |
222,600 |
— |
222,600 |
France |
— |
293,381 |
— |
293,381 |
Germany |
— |
649,512 |
— |
649,512 |
Ireland |
— |
332,674 |
— |
332,674 |
Japan |
— |
764,788 |
— |
764,788 |
Netherlands |
— |
272,883 |
— |
272,883 |
Norway |
— |
176,499 |
— |
176,499 |
Sweden |
— |
124,722 |
— |
124,722 |
Switzerland |
151,014 |
424,579 |
— |
575,593 |
Taiwan |
255,682 |
— |
— |
255,682 |
United
Kingdom |
162,305 |
274,793 |
— |
437,098 |
United
States |
5,596,269 |
596,917 |
— |
6,193,186 |
Total
Common Stocks |
6,627,063 |
4,678,807 |
— |
11,305,870 |
Short-Term
Investments |
|
|
|
|
Investment
Companies |
97,938 |
— |
— |
97,938 |
Total
Investments in Securities |
$6,725,001 |
$4,678,807 |
$— |
$11,403,808 |
Sustainable
Infrastructure ETF |
|
| ||
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Investments
in Securities |
|
|
|
|
Common
Stocks |
|
|
|
|
Australia |
$— |
$384,520 |
$— |
$384,520 |
Austria |
— |
115,601 |
— |
115,601 |
Belgium |
— |
260,981 |
— |
260,981 |
Brazil |
165,647 |
— |
— |
165,647 |
Canada |
360,553 |
— |
— |
360,553 |
China |
— |
291,720 |
— |
291,720 |
Denmark |
— |
105,995 |
— |
105,995 |
France |
— |
308,371 |
— |
308,371 |
Germany |
— |
444,304 |
— |
444,304 |
Italy |
— |
434,464 |
— |
434,464 |
Japan |
— |
108,963 |
— |
108,963 |
Netherlands |
— |
162,385 |
— |
162,385 |
Singapore |
— |
77,180 |
— |
77,180 |
South
Korea |
— |
215,374 |
— |
215,374 |
Spain |
— |
1,314,434 |
— |
1,314,434 |
United
Kingdom |
376,331 |
975,778 |
— |
1,352,109 |
United
States |
4,390,442 |
— |
— |
4,390,442 |
Total
Common Stocks |
5,292,973 |
5,200,070 |
— |
10,493,043 |
April
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
33
|
Sustainable
Infrastructure ETF (continued) |
|
| ||
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Short-Term
Investments |
|
|
|
|
Investment
Companies |
$229,759 |
$— |
$— |
$229,759 |
Total
Investments in Securities |
$5,522,732 |
$5,200,070 |
$— |
$10,722,802 |
Climate
Change Solutions ETF |
$6 |
34
|
J.P.
Morgan Exchange-Traded Funds
|
April
30, 2023
|
Climate
Change Solutions ETF | |||||||||
For
the six months ended April 30, 2023 | |||||||||
Security
Description |
Value
at
October
31,
2022 |
Purchases
at
Cost |
Proceeds
from
Sales |
Net
Realized
Gain
(Loss) |
Change
in
Unrealized
Appreciation/
(Depreciation) |
Value
at
April
30,
2023 |
Shares
at
April
30,
2023 |
Dividend
Income |
Capital
Gain
Distributions |
JPMorgan
Prime Money Market Fund Class IM Shares,
4.95%
(a)
(b) |
$— |
$418,329 |
$347,942 |
$35 |
$(13
) |
$70,409 |
70,388 |
$1,933 |
$— |
| |
(a) |
Investment
in an affiliated fund, which is registered under the Investment Company
Act of 1940, as amended, and is advised by J.P. Morgan
Investment
Management Inc. |
(b) |
The
rate shown is the current yield as of April 30,
2023. |
Social
Advancement ETF | |||||||||
For
the six months ended April 30, 2023 | |||||||||
Security
Description |
Value
at
October
31,
2022 |
Purchases
at
Cost |
Proceeds
from
Sales |
Net
Realized
Gain
(Loss) |
Change
in
Unrealized
Appreciation/
(Depreciation) |
Value
at
April
30,
2023 |
Shares
at
April
30,
2023 |
Dividend
Income |
Capital
Gain
Distributions |
JPMorgan
Prime Money Market Fund Class IM
Shares,
4.95% (a)
(b) |
$421,937 |
$459,180 |
$691,937 |
$(90
) |
$107 |
$189,197 |
189,140 |
$7,117 |
$— |
| |
(a) |
Investment
in an affiliated fund, which is registered under the Investment Company
Act of 1940, as amended, and is advised by J.P. Morgan
Investment
Management Inc. |
(b) |
The
rate shown is the current yield as of April 30,
2023. |
Sustainable
Consumption ETF | |||||||||
For
the six months ended April 30, 2023 | |||||||||
Security
Description |
Value
at
October
31,
2022 |
Purchases
at
Cost |
Proceeds
from
Sales |
Net
Realized
Gain
(Loss) |
Change
in
Unrealized
Appreciation/
(Depreciation) |
Value
at
April
30,
2023 |
Shares
at
April
30,
2023 |
Dividend
Income |
Capital
Gain
Distributions |
JPMorgan
Prime Money Market Fund Class IM Shares,
4.95%
(a)
(b) |
$295,959 |
$498,302 |
$696,403 |
$(9
) |
$89 |
$97,938 |
97,908 |
$2,915 |
$— |
| |
(a) |
Investment
in an affiliated fund, which is registered under the Investment Company
Act of 1940, as amended, and is advised by J.P. Morgan
Investment
Management Inc. |
(b) |
The
rate shown is the current yield as of April 30,
2023. |
Sustainable
Infrastructure ETF | |||||||||
For
the six months ended April 30, 2023 | |||||||||
Security
Description |
Value
at
October
31,
2022 |
Purchases
at
Cost |
Proceeds
from
Sales |
Net
Realized
Gain
(Loss) |
Change
in
Unrealized
Appreciation/
(Depreciation) |
Value
at
April
30,
2023 |
Shares
at
April
30,
2023 |
Dividend
Income |
Capital
Gain
Distributions |
JPMorgan
Prime Money Market Fund Class IM
Shares,
4.95% (a)
(b) |
$109,193 |
$806,867 |
$686,326 |
$(3
) |
$28 |
$229,759 |
229,690 |
$4,109 |
$— |
| |
(a) |
Investment
in an affiliated fund, which is registered under the Investment Company
Act of 1940, as amended, and is advised by J.P. Morgan
Investment
Management Inc. |
(b) |
The
rate shown is the current yield as of April 30,
2023. |
April
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
35
|
|
|
Climate
Change Solutions ETF |
0.49
% |
Social
Advancement ETF |
0.49 |
Sustainable
Consumption ETF |
0.49 |
Sustainable
Infrastructure ETF |
0.49 |
36
|
J.P.
Morgan Exchange-Traded Funds
|
April
30, 2023
|
|
Purchases
(excluding
U.S.
Government) |
Sales
(excluding
U.S.
Government) |
Climate
Change Solutions ETF |
$3,097,663 |
$3,414,412 |
Social
Advancement ETF |
1,551,456 |
1,325,424 |
Sustainable
Consumption ETF |
2,722,928 |
2,536,771 |
Sustainable
Infrastructure ETF |
3,100,937 |
3,165,902 |
|
Aggregate
Cost |
Gross
Unrealized
Appreciation |
Gross
Unrealized
Depreciation |
Net
Unrealized
Appreciation
(Depreciation) |
Climate
Change Solutions ETF |
$22,375,709 |
$859,356 |
$2,102,291 |
$(1,242,935
) |
Social
Advancement ETF |
10,600,249 |
1,572,859 |
149,984 |
1,422,875 |
Sustainable
Consumption ETF |
10,729,853 |
995,856 |
321,901 |
673,955 |
Sustainable
Infrastructure ETF |
10,671,087 |
689,221 |
637,506 |
51,715 |
April
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
37
|
|
Capital
Loss Carryforward Character
|
|
Short-Term |
Climate
Change Solutions ETF |
$3,132,707 |
Social
Advancement ETF |
62,027 |
Sustainable
Consumption ETF |
5,164 |
|
%
of Ownership |
Climate
Change Solutions ETF |
82
% |
Social
Advancement ETF |
89 |
Sustainable
Consumption ETF |
89 |
Sustainable
Infrastructure ETF |
89 |
38
|
J.P.
Morgan Exchange-Traded Funds
|
April
30, 2023
|
April
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
39
|
|
Climate
Change
Solutions
ETF |
Sustainable
Infrastructure
ETF |
Germany |
11.5
% |
—
% |
Spain |
— |
12.3 |
United
Kingdom |
— |
12.6 |
40
|
J.P.
Morgan Exchange-Traded Funds
|
April
30, 2023
|
|
Beginning
Account
Value
November
1, 2022 |
Ending
Account
Value
April
30, 2023 |
Expenses
Paid
During
the
Period*
|
Annualized
Expense
Ratio |
JPMorgan
Climate Change Solutions ETF |
|
|
|
|
Actual |
$1,000.00 |
$1,114.40 |
$2.57 |
0.49
% |
Hypothetical |
1,000.00 |
1,022.37 |
2.46 |
0.49 |
JPMorgan
Social Advancement ETF |
|
|
|
|
Actual |
1,000.00 |
1,143.90 |
2.60 |
0.49 |
Hypothetical |
1,000.00 |
1,022.37 |
2.46 |
0.49 |
JPMorgan
Sustainable Consumption ETF |
|
|
|
|
Actual |
1,000.00 |
1,093.10 |
2.54 |
0.49 |
Hypothetical |
1,000.00 |
1,022.37 |
2.46 |
0.49 |
JPMorgan
Sustainable Infrastructure ETF |
|
|
|
|
Actual |
1,000.00 |
1,120.20 |
2.58 |
0.49 |
Hypothetical |
1,000.00 |
1,022.37 |
2.46 |
0.49 |
| |
* |
Expenses
are equal to each Fund's respective annualized expense ratio, multiplied
by the average account value over the period, multiplied by
181/365
(to reflect the one-half year
period). |
April
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
41
|
42
|
J.P.
Morgan Exchange-Traded Funds
|
April
30, 2023
|