Fund
|
Ticker
|
Listing
Exchange
|
JPMorgan
Market Expansion Enhanced Equity ETF |
JMEE |
NYSE
Arca |
|
|
1 | |
2 | |
5 | |
15 | |
20 | |
22 | |
31 | |
32 | |
36 | |
38 | |
39 |
![]() |
“Equity
markets delivered strong
returns
during the first half of 2023,
with
investors who remained fully
invested
likely benefitting. Going
forward,
we believe investors may be
best
served by maintaining a
long-term
view and holding a
well-diversified
portfolio.”
—
Brian S. Shlissel
|
June
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
1
|
REPORTING
PERIOD RETURN: |
|
Net
Asset Value * |
16.61% |
Market
Price ** |
16.73% |
S&P
1000 Index |
15.20% |
Net
Assets as of 6/30/2023 |
$854,560,372 |
Fund
Ticker |
JMEE |
2
|
J.P.
Morgan Exchange-Traded Funds
|
June
30, 2023
|
TOP
TEN HOLDINGS OF THE
PORTFOLIO
AS OF June
30, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS | |
1. |
Builders
FirstSource, Inc. |
1.1
% |
2. |
Jabil,
Inc. |
0.9 |
3. |
Reliance
Steel & Aluminum Co. |
0.7 |
4. |
Toll
Brothers, Inc. |
0.7 |
5. |
United
Therapeutics Corp. |
0.7 |
6. |
EMCOR
Group, Inc. |
0.6 |
7. |
Clean
Harbors, Inc. |
0.6 |
8. |
Life
Storage, Inc. |
0.6 |
9. |
nVent
Electric plc |
0.6 |
10. |
Tri
Pointe Homes, Inc. |
0.5 |
PORTFOLIO
COMPOSITION BY SECTOR
AS
OF June
30, 2023 |
PERCENT
OF
TOTAL
INVESTMENTS |
Industrials |
21.6% |
Financials |
13.3 |
Consumer
Discretionary |
13.3 |
Information
Technology |
11.7 |
Health
Care |
9.9 |
Real
Estate |
7.2 |
Materials |
5.8 |
Consumer
Staples |
4.6 |
Energy |
4.1 |
Utilities |
2.5 |
Communication
Services |
1.1 |
Short-Term
Investments |
4.9 |
June
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
3
|
|
INCEPTION
DATE |
1
YEAR |
5
YEAR |
10
YEAR |
JPMorgan
Market Expansion Enhanced Equity ETF |
|
|
| |
Net
Asset Value |
July
31, 1998* |
16.61
% |
6.85
% |
9.91
% |
Market
Price |
|
16.73 |
6.87 |
9.91 |
| |
* |
Inception
date for Class I Shares of the predecessor Fund (as defined
below). |
4
|
J.P.
Morgan Exchange-Traded Funds
|
June
30, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — 97.5% | ||
Aerospace
& Defense — 0.2% | ||
AeroVironment,
Inc. * |
5,796 |
592,815 |
Curtiss-Wright
Corp. |
1,607 |
295,142 |
Woodward,
Inc. |
4,509 |
536,165 |
|
|
1,424,122 |
Air
Freight & Logistics — 0.5% | ||
Forward
Air Corp. |
8,319 |
882,729 |
GXO
Logistics, Inc. * |
20,609 |
1,294,657 |
Hub
Group, Inc., Class A * |
22,212 |
1,784,068 |
|
|
3,961,454 |
Automobile
Components — 1.2% | ||
Adient
plc * |
24,124 |
924,432 |
American
Axle & Manufacturing Holdings, Inc. * |
37,017 |
306,131 |
Dana,
Inc. |
86,446 |
1,469,582 |
Fox
Factory Holding Corp. * |
5,651 |
613,190 |
Gentherm,
Inc. * |
8,581 |
484,912 |
Goodyear
Tire & Rubber Co. (The) * |
182,577 |
2,497,653 |
LCI
Industries |
6,377 |
805,798 |
Lear
Corp. |
14,969 |
2,148,800 |
Patrick
Industries, Inc. |
7,124 |
569,920 |
|
|
9,820,418 |
Automobiles
— 0.4% | ||
Harley-Davidson,
Inc. |
40,087 |
1,411,463 |
Thor
Industries, Inc. (a) |
14,997 |
1,552,190 |
Winnebago
Industries, Inc. |
10,260 |
684,239 |
|
|
3,647,892 |
Banks
— 5.9% | ||
Ameris
Bancorp |
51,930 |
1,776,525 |
Associated
Banc-Corp. |
40,787 |
661,973 |
Axos
Financial, Inc. * |
46,004 |
1,814,398 |
Banc
of California, Inc. |
38,569 |
446,629 |
Bancorp,
Inc. (The) * |
14,455 |
471,956 |
Banner
Corp. |
39,125 |
1,708,589 |
Brookline
Bancorp, Inc. |
18,841 |
164,670 |
Cadence
Bank |
18,801 |
369,252 |
Columbia
Banking System, Inc. |
54,697 |
1,109,255 |
Commerce
Bancshares, Inc. |
29,794 |
1,450,968 |
Cullen/Frost
Bankers, Inc. (a) |
17,226 |
1,852,312 |
Customers
Bancorp, Inc. * |
52,253 |
1,581,176 |
CVB
Financial Corp. |
71,587 |
950,675 |
Dime
Community Bancshares, Inc. |
12,518 |
220,692 |
East
West Bancorp, Inc. |
61,457 |
3,244,315 |
FB
Financial Corp. |
8,353 |
234,302 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Banks
— continued | ||
First
Bancorp (a) |
9,335 |
277,716 |
First
BanCorp (Puerto Rico) |
183,806 |
2,246,109 |
First
Commonwealth Financial Corp. |
88,650 |
1,121,422 |
First
Financial Bancorp |
11,658 |
238,290 |
First
Financial Bankshares, Inc. |
16,696 |
475,669 |
First
Horizon Corp. |
138,377 |
1,559,509 |
FNB
Corp. |
151,664 |
1,735,036 |
Glacier
Bancorp, Inc. |
2,723 |
84,876 |
Hancock
Whitney Corp. |
35,236 |
1,352,358 |
Hanmi
Financial Corp. |
8,801 |
131,399 |
National
Bank Holdings Corp., Class A |
47,435 |
1,377,512 |
NBT
Bancorp, Inc. |
8,895 |
283,306 |
New
York Community Bancorp, Inc. |
134,834 |
1,515,534 |
OFG
Bancorp (Puerto Rico) |
71,518 |
1,865,189 |
Old
National Bancorp |
164,798 |
2,297,284 |
Pathward
Financial, Inc. |
7,158 |
331,845 |
Pinnacle
Financial Partners, Inc. |
50,005 |
2,832,783 |
Preferred
Bank |
3,586 |
197,194 |
Prosperity
Bancshares, Inc. (a) |
35,815 |
2,022,831 |
Renasant
Corp. |
14,269 |
372,849 |
Seacoast
Banking Corp. of Florida |
20,530 |
453,713 |
Southside
Bancshares, Inc. |
31,430 |
822,209 |
SouthState
Corp. |
9,005 |
592,529 |
Synovus
Financial Corp. |
38,240 |
1,156,760 |
Triumph
Financial, Inc. * |
5,903 |
358,430 |
UMB
Financial Corp. |
11,321 |
689,449 |
United
Community Banks, Inc. |
26,888 |
671,931 |
Veritex
Holdings, Inc. |
36,524 |
654,875 |
Washington
Federal, Inc. |
30,467 |
807,985 |
Webster
Financial Corp. |
30,797 |
1,162,587 |
Wintrust
Financial Corp. |
37,338 |
2,711,486 |
WSFS
Financial Corp. |
6,900 |
260,268 |
|
|
50,718,620 |
Beverages
— 0.3% | ||
Boston
Beer Co., Inc. (The), Class A * |
2,399 |
739,947 |
Celsius
Holdings, Inc. * |
7,589 |
1,132,203 |
Coca-Cola
Consolidated, Inc. |
1,394 |
886,612 |
|
|
2,758,762 |
Biotechnology
— 1.9% | ||
Arrowhead
Pharmaceuticals, Inc. * |
41,381 |
1,475,646 |
Eagle
Pharmaceuticals, Inc. * |
28,743 |
558,764 |
Emergent
BioSolutions, Inc. * |
3,872 |
28,459 |
Exelixis,
Inc. * |
228,216 |
4,361,208 |
June
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
5
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Biotechnology
— continued | ||
Neurocrine
Biosciences, Inc. * |
27,249 |
2,569,581 |
REGENXBIO,
Inc. * |
61,493 |
1,229,245 |
United
Therapeutics Corp. * |
26,167 |
5,776,365 |
|
|
15,999,268 |
Broadline
Retail — 0.6% | ||
Kohl's
Corp. (a) |
63,916 |
1,473,264 |
Macy's,
Inc. |
144,817 |
2,324,313 |
Nordstrom,
Inc. |
28,255 |
578,380 |
Ollie's
Bargain Outlet Holdings, Inc. * |
9,219 |
534,056 |
|
|
4,910,013 |
Building
Products — 3.3% | ||
AAON,
Inc. |
8,030 |
761,324 |
Apogee
Enterprises, Inc. |
5,500 |
261,085 |
AZZ,
Inc. |
6,477 |
281,490 |
Builders
FirstSource, Inc. * |
70,605 |
9,602,280 |
Carlisle
Cos., Inc. |
13,613 |
3,492,143 |
Gibraltar
Industries, Inc. * |
24,098 |
1,516,246 |
Griffon
Corp. |
13,217 |
532,645 |
Lennox
International, Inc. |
6,498 |
2,118,803 |
Owens
Corning |
26,950 |
3,516,975 |
Resideo
Technologies, Inc. * |
41,092 |
725,685 |
Simpson
Manufacturing Co., Inc. |
11,421 |
1,581,808 |
Trex
Co., Inc. * |
4,267 |
279,745 |
UFP
Industries, Inc. |
36,016 |
3,495,353 |
|
|
28,165,582 |
Capital
Markets — 1.7% | ||
Affiliated
Managers Group, Inc. |
10,657 |
1,597,378 |
Avantax,
Inc. * |
94,557 |
2,116,186 |
Donnelley
Financial Solutions, Inc. * |
12,728 |
579,506 |
Evercore,
Inc., Class A |
6,146 |
759,584 |
Federated
Hermes, Inc. |
12,264 |
439,664 |
Interactive
Brokers Group, Inc., Class A |
37,673 |
3,129,496 |
Jefferies
Financial Group, Inc. |
47,304 |
1,569,074 |
Piper
Sandler Cos. |
3,395 |
438,838 |
SEI
Investments Co. |
11,124 |
663,213 |
Stifel
Financial Corp. |
34,394 |
2,052,290 |
StoneX
Group, Inc. * |
8,613 |
715,568 |
Virtus
Investment Partners, Inc. |
1,931 |
381,314 |
|
|
14,442,111 |
Chemicals
— 2.3% | ||
AdvanSix,
Inc. |
29,340 |
1,026,313 |
Ashland,
Inc. |
11,044 |
959,834 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Chemicals
— continued | ||
Avient
Corp. |
41,272 |
1,688,025 |
Axalta
Coating Systems Ltd. * |
22,657 |
743,376 |
Cabot
Corp. |
27,395 |
1,832,452 |
Chemours
Co. (The) (a) |
62,522 |
2,306,437 |
Hawkins,
Inc. |
5,004 |
238,641 |
HB
Fuller Co. |
26,979 |
1,929,268 |
Ingevity
Corp. * |
24,188 |
1,406,774 |
Livent
Corp. *
(a) |
19,322 |
530,003 |
Minerals
Technologies, Inc. |
14,462 |
834,313 |
RPM
International, Inc. |
24,765 |
2,222,163 |
Scotts
Miracle-Gro Co. (The) |
10,993 |
689,151 |
Sensient
Technologies Corp. |
15,471 |
1,100,452 |
Stepan
Co. |
20,247 |
1,934,803 |
Trinseo
plc |
10,170 |
128,854 |
|
|
19,570,859 |
Commercial
Services & Supplies — 1.7% | ||
ABM
Industries, Inc. |
16,783 |
715,795 |
Brady
Corp., Class A |
47,381 |
2,253,914 |
Brink's
Co. (The) |
13,764 |
933,612 |
Clean
Harbors, Inc. * |
30,057 |
4,942,272 |
CoreCivic,
Inc. * |
115,800 |
1,089,678 |
Deluxe
Corp. |
11,996 |
209,690 |
Enviri
Corp. * |
17,334 |
171,087 |
Interface,
Inc. |
16,900 |
148,551 |
Matthews
International Corp., Class A |
8,671 |
369,558 |
MillerKnoll,
Inc. |
22,120 |
326,934 |
OPENLANE,
Inc. * |
33,537 |
510,433 |
Pitney
Bowes, Inc. |
39,977 |
141,519 |
Stericycle,
Inc. * |
6,377 |
296,148 |
Tetra
Tech, Inc. |
14,200 |
2,325,108 |
Viad
Corp. * |
5,256 |
141,281 |
|
|
14,575,580 |
Communications
Equipment — 1.2% | ||
ADTRAN
Holdings, Inc. |
14,611 |
153,854 |
Calix,
Inc. * |
14,625 |
729,934 |
Ciena
Corp. * |
88,208 |
3,747,958 |
Digi
International, Inc. * |
8,866 |
349,232 |
Extreme
Networks, Inc. * |
31,311 |
815,651 |
Lumentum
Holdings, Inc. *
(a) |
14,611 |
828,882 |
NETGEAR,
Inc. * |
98,932 |
1,400,877 |
Viasat,
Inc. *
(a) |
44,567 |
1,838,834 |
Viavi
Solutions, Inc. * |
58,739 |
665,513 |
|
|
10,530,735 |
6
|
J.P.
Morgan Exchange-Traded Funds
|
June
30, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Construction
& Engineering — 2.2% | ||
AECOM |
34,504 |
2,922,144 |
Arcosa,
Inc. |
14,122 |
1,070,024 |
Comfort
Systems USA, Inc. |
26,172 |
4,297,442 |
EMCOR
Group, Inc. |
27,044 |
4,997,190 |
MasTec,
Inc. * |
15,095 |
1,780,757 |
MDU
Resources Group, Inc. |
55,506 |
1,162,296 |
MYR
Group, Inc. * |
17,182 |
2,376,958 |
|
|
18,606,811 |
Construction
Materials — 0.2% | ||
Eagle
Materials, Inc. |
7,188 |
1,339,987 |
Consumer
Finance — 0.7% | ||
Encore
Capital Group, Inc. * |
8,581 |
417,208 |
Enova
International, Inc. * |
33,713 |
1,790,835 |
EZCORP,
Inc., Class A *
(a) |
23,387 |
195,983 |
FirstCash
Holdings, Inc. |
13,580 |
1,267,421 |
Navient
Corp. |
27,728 |
515,186 |
PROG
Holdings, Inc. * |
17,963 |
576,972 |
SLM
Corp. |
96,070 |
1,567,862 |
|
|
6,331,467 |
Consumer
Staples Distribution & Retail — 1.8% | ||
Andersons,
Inc. (The) |
32,306 |
1,490,922 |
BJ's
Wholesale Club Holdings, Inc. * |
55,135 |
3,474,056 |
Casey's
General Stores, Inc. |
17,375 |
4,237,415 |
SpartanNash
Co. |
51,787 |
1,165,725 |
Sprouts
Farmers Market, Inc. * |
98,995 |
3,636,086 |
United
Natural Foods, Inc. * |
67,090 |
1,311,610 |
|
|
15,315,814 |
Containers
& Packaging — 1.1% | ||
AptarGroup,
Inc. |
13,834 |
1,602,807 |
Berry
Global Group, Inc. |
19,132 |
1,230,953 |
Greif,
Inc., Class A |
12,770 |
879,726 |
Myers
Industries, Inc. |
10,175 |
197,700 |
O-I
Glass, Inc. * |
19,122 |
407,872 |
Silgan
Holdings, Inc. |
41,660 |
1,953,438 |
Sonoco
Products Co. |
52,810 |
3,116,846 |
|
|
9,389,342 |
Diversified
Consumer Services — 0.7% | ||
Adtalem
Global Education, Inc. * |
13,575 |
466,165 |
Graham
Holdings Co., Class B |
1,679 |
959,515 |
Grand
Canyon Education, Inc. * |
5,093 |
525,649 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Diversified
Consumer Services — continued | ||
H&R
Block, Inc. |
44,428 |
1,415,920 |
Service
Corp. International |
43,691 |
2,822,002 |
|
|
6,189,251 |
Diversified
REITs — 0.3% | ||
American
Assets Trust, Inc. |
12,580 |
241,536 |
Armada
Hoffler Properties, Inc. |
47,681 |
556,914 |
Essential
Properties Realty Trust, Inc. |
72,044 |
1,695,916 |
|
|
2,494,366 |
Diversified
Telecommunication Services — 0.3% | ||
Cogent
Communications Holdings, Inc. |
10,797 |
726,530 |
Iridium
Communications, Inc. |
35,468 |
2,203,272 |
|
|
2,929,802 |
Electric
Utilities — 0.9% | ||
Hawaiian
Electric Industries, Inc. |
47,461 |
1,718,088 |
IDACORP,
Inc. |
32,816 |
3,366,922 |
OGE
Energy Corp. |
73,969 |
2,656,227 |
|
|
7,741,237 |
Electrical
Equipment — 1.7% | ||
Acuity
Brands, Inc. |
8,849 |
1,443,095 |
Encore
Wire Corp. |
15,109 |
2,809,216 |
EnerSys |
2,850 |
309,282 |
Hubbell,
Inc. |
6,193 |
2,053,351 |
nVent
Electric plc |
94,555 |
4,885,657 |
Regal
Rexnord Corp. |
18,154 |
2,793,901 |
|
|
14,294,502 |
Electronic
Equipment, Instruments & Components — 3.5% | ||
Advanced
Energy Industries, Inc. |
11,091 |
1,236,092 |
Arrow
Electronics, Inc. * |
25,093 |
3,594,070 |
Belden,
Inc. |
11,565 |
1,106,192 |
Benchmark
Electronics, Inc. |
9,965 |
257,396 |
Cognex
Corp. |
36,567 |
2,048,483 |
Coherent
Corp. * |
19,225 |
980,091 |
Fabrinet
(Thailand) * |
26,866 |
3,489,356 |
Itron,
Inc. * |
3,125 |
225,313 |
Jabil,
Inc. |
70,940 |
7,656,554 |
Littelfuse,
Inc. |
5,549 |
1,616,479 |
OSI
Systems, Inc. * |
4,709 |
554,862 |
Rogers
Corp. * |
3,965 |
642,053 |
TD
SYNNEX Corp. |
23,113 |
2,172,622 |
Vontier
Corp. |
123,578 |
3,980,447 |
|
|
29,560,010 |
June
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
7
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Energy
Equipment & Services — 0.9% | ||
Bristow
Group, Inc. * |
7,615 |
218,779 |
ChampionX
Corp. |
90,899 |
2,821,505 |
Helmerich
& Payne, Inc. |
18,184 |
644,623 |
NOV,
Inc. |
104,789 |
1,680,815 |
Oceaneering
International, Inc. * |
50,276 |
940,161 |
Patterson-UTI
Energy, Inc. |
89,914 |
1,076,271 |
ProPetro
Holding Corp. * |
19,862 |
163,663 |
|
|
7,545,817 |
Entertainment
— 0.0% ^ | ||
Marcus
Corp. (The) (a) |
8,110 |
120,271 |
Financial
Services — 1.8% | ||
Essent
Group Ltd. |
46,686 |
2,184,905 |
Euronet
Worldwide, Inc. * |
4,062 |
476,757 |
EVERTEC,
Inc. (Puerto Rico) |
40,616 |
1,495,887 |
MGIC
Investment Corp. |
132,635 |
2,094,307 |
Mr.
Cooper Group, Inc. * |
28,445 |
1,440,455 |
NMI
Holdings, Inc., Class A * |
55,194 |
1,425,109 |
Radian
Group, Inc. |
23,815 |
602,043 |
Voya
Financial, Inc. |
20,330 |
1,457,864 |
Walker
& Dunlop, Inc. |
12,412 |
981,665 |
WEX,
Inc. * |
17,643 |
3,212,261 |
|
|
15,371,253 |
Food
Products — 1.5% | ||
Darling
Ingredients, Inc. * |
44,039 |
2,809,248 |
Flowers
Foods, Inc. |
50,146 |
1,247,633 |
Fresh
Del Monte Produce, Inc. |
8,150 |
209,537 |
Hostess
Brands, Inc. * |
35,388 |
896,024 |
Ingredion,
Inc. |
31,376 |
3,324,287 |
John
B Sanfilippo & Son, Inc. |
2,678 |
314,049 |
Pilgrim's
Pride Corp. * |
50,164 |
1,078,024 |
Post
Holdings, Inc. * |
15,158 |
1,313,441 |
Simply
Good Foods Co. (The) * |
22,093 |
808,383 |
TreeHouse
Foods, Inc. * |
13,167 |
663,353 |
|
|
12,663,979 |
Gas
Utilities — 0.7% | ||
Chesapeake
Utilities Corp. |
18,026 |
2,145,094 |
ONE
Gas, Inc. |
17,609 |
1,352,547 |
Southwest
Gas Holdings, Inc. |
4,139 |
263,447 |
Spire,
Inc. |
7,124 |
451,947 |
UGI
Corp. |
76,381 |
2,059,996 |
|
|
6,273,031 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Ground
Transportation — 1.9% | ||
ArcBest
Corp. |
13,677 |
1,351,288 |
Avis
Budget Group, Inc. * |
12,580 |
2,876,668 |
Knight-Swift
Transportation Holdings, Inc. |
42,855 |
2,381,024 |
Landstar
System, Inc. |
19,379 |
3,731,233 |
Ryder
System, Inc. |
12,995 |
1,101,846 |
Saia,
Inc. * |
6,740 |
2,307,843 |
Werner
Enterprises, Inc. |
25,348 |
1,119,875 |
XPO,
Inc. * |
28,893 |
1,704,687 |
|
|
16,574,464 |
Health
Care Equipment & Supplies — 3.6% | ||
Avanos
Medical, Inc. * |
11,916 |
304,573 |
CONMED
Corp. (a) |
6,550 |
890,080 |
Envista
Holdings Corp. * |
94,291 |
3,190,807 |
Glaukos
Corp. * |
20,773 |
1,479,245 |
Globus
Medical, Inc., Class A * |
20,304 |
1,208,900 |
Haemonetics
Corp. * |
30,017 |
2,555,647 |
Inari
Medical, Inc. * |
15,318 |
890,589 |
Integer
Holdings Corp. * |
8,518 |
754,780 |
Integra
LifeSciences Holdings Corp. * |
18,732 |
770,447 |
Lantheus
Holdings, Inc. * |
47,777 |
4,009,446 |
LivaNova
plc * |
11,544 |
593,708 |
Masimo
Corp. * |
25,140 |
4,136,787 |
Merit
Medical Systems, Inc. * |
13,291 |
1,111,659 |
Neogen
Corp. * |
117,614 |
2,558,105 |
NuVasive,
Inc. * |
45,981 |
1,912,350 |
Omnicell,
Inc. * |
10,993 |
809,854 |
Orthofix
Medical, Inc. * |
12,828 |
231,674 |
Shockwave
Medical, Inc. * |
9,710 |
2,771,331 |
Varex
Imaging Corp. * |
10,612 |
250,125 |
|
|
30,430,107 |
Health
Care Providers & Services — 3.0% | ||
Acadia
Healthcare Co., Inc. * |
23,287 |
1,854,577 |
Addus
HomeCare Corp. * |
3,972 |
368,205 |
Amedisys,
Inc. * |
21,919 |
2,004,273 |
AMN
Healthcare Services, Inc. * |
5,531 |
603,543 |
Chemed
Corp. |
4,356 |
2,359,515 |
Encompass
Health Corp. |
57,021 |
3,860,892 |
Enhabit,
Inc. *
(a) |
12,526 |
144,049 |
Ensign
Group, Inc. (The) |
13,385 |
1,277,732 |
Fulgent
Genetics, Inc. *
(a) |
40,111 |
1,485,310 |
HealthEquity,
Inc. * |
39,464 |
2,491,757 |
ModivCare,
Inc. * |
11,996 |
542,339 |
Option
Care Health, Inc. * |
68,443 |
2,223,713 |
8
|
J.P.
Morgan Exchange-Traded Funds
|
June
30, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Health
Care Providers & Services — continued | ||
Progyny,
Inc. * |
57,685 |
2,269,328 |
R1
RCM, Inc. *
(a) |
30,674 |
565,935 |
RadNet,
Inc. * |
11,349 |
370,204 |
Tenet
Healthcare Corp. * |
41,439 |
3,372,306 |
|
|
25,793,678 |
Health
Care REITs — 0.4% | ||
CareTrust
REIT, Inc. |
24,205 |
480,711 |
Community
Healthcare Trust, Inc. |
38,624 |
1,275,365 |
Physicians
Realty Trust |
121,281 |
1,696,721 |
Sabra
Health Care REIT, Inc. |
25,077 |
295,156 |
|
|
3,747,953 |
Health
Care Technology — 0.1% | ||
HealthStream,
Inc. |
7,837 |
192,477 |
NextGen
Healthcare, Inc. * |
16,463 |
267,030 |
Veradigm,
Inc. * |
51,437 |
648,106 |
|
|
1,107,613 |
Hotel
& Resort REITs — 0.2% | ||
DiamondRock
Hospitality Co. |
51,275 |
410,713 |
Park
Hotels & Resorts, Inc. (a) |
65,387 |
838,261 |
Xenia
Hotels & Resorts, Inc. |
29,995 |
369,239 |
|
|
1,618,213 |
Hotels,
Restaurants & Leisure — 2.3% | ||
BJ's
Restaurants, Inc. * |
6,198 |
197,096 |
Bloomin'
Brands, Inc. |
20,060 |
539,413 |
Boyd
Gaming Corp. |
22,157 |
1,537,031 |
Brinker
International, Inc. * |
35,920 |
1,314,672 |
Cheesecake
Factory, Inc. (The) |
14,517 |
501,998 |
Churchill
Downs, Inc. |
13,298 |
1,850,683 |
Cracker
Barrel Old Country Store, Inc. (a) |
4,371 |
407,290 |
Dave
& Buster's Entertainment, Inc. * |
13,485 |
600,892 |
Golden
Entertainment, Inc. * |
9,055 |
378,499 |
Jack
in the Box, Inc. |
6,650 |
648,574 |
Light
& Wonder, Inc. * |
16,442 |
1,130,552 |
Marriott
Vacations Worldwide Corp. |
10,797 |
1,325,008 |
Papa
John's International, Inc. |
6,477 |
478,197 |
Planet
Fitness, Inc., Class A * |
24,963 |
1,683,505 |
Texas
Roadhouse, Inc. |
15,755 |
1,768,971 |
Travel
+ Leisure Co. |
30,923 |
1,247,434 |
Wendy's
Co. (The) |
34,184 |
743,502 |
Wyndham
Hotels & Resorts, Inc. |
50,326 |
3,450,854 |
|
|
19,804,171 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Household
Durables — 2.2% | ||
Cavco
Industries, Inc. * |
2,131 |
628,645 |
KB
Home |
24,024 |
1,242,281 |
La-Z-Boy,
Inc. |
12,181 |
348,864 |
Meritage
Homes Corp. |
15,853 |
2,255,406 |
Taylor
Morrison Home Corp. * |
34,204 |
1,668,129 |
Tempur
Sealy International, Inc. |
51,273 |
2,054,509 |
Toll
Brothers, Inc. |
78,596 |
6,214,586 |
Tri
Pointe Homes, Inc. * |
136,583 |
4,488,117 |
|
|
18,900,537 |
Household
Products — 0.4% | ||
Central
Garden & Pet Co. * |
27,349 |
1,060,321 |
Central
Garden & Pet Co., Class A * |
55,045 |
2,006,941 |
Energizer
Holdings, Inc. |
17,547 |
589,228 |
|
|
3,656,490 |
Industrial
REITs — 1.3% | ||
EastGroup
Properties, Inc. |
16,446 |
2,855,026 |
First
Industrial Realty Trust, Inc. |
65,459 |
3,445,762 |
Innovative
Industrial Properties, Inc. |
10,746 |
784,565 |
LXP
Industrial Trust |
69,914 |
681,662 |
Rexford
Industrial Realty, Inc. |
66,356 |
3,465,110 |
|
|
11,232,125 |
Insurance
— 3.0% | ||
American
Financial Group, Inc. |
23,890 |
2,836,937 |
Assured
Guaranty Ltd. |
16,008 |
893,246 |
CNO
Financial Group, Inc. |
32,943 |
779,761 |
Employers
Holdings, Inc. |
17,232 |
644,649 |
First
American Financial Corp. |
27,127 |
1,546,781 |
Hanover
Insurance Group, Inc. (The) |
3,128 |
353,558 |
Horace
Mann Educators Corp. |
10,610 |
314,693 |
James
River Group Holdings Ltd. |
43,065 |
786,367 |
Kinsale
Capital Group, Inc. |
3,425 |
1,281,635 |
Mercury
General Corp. |
7,010 |
212,193 |
Old
Republic International Corp. |
75,719 |
1,905,847 |
Palomar
Holdings, Inc. * |
6,198 |
359,732 |
Primerica,
Inc. |
7,080 |
1,400,141 |
Reinsurance
Group of America, Inc. |
19,782 |
2,743,566 |
RenaissanceRe
Holdings Ltd. (Bermuda) |
15,782 |
2,943,659 |
RLI
Corp. |
16,565 |
2,260,625 |
Selective
Insurance Group, Inc. |
4,488 |
430,624 |
Unum
Group |
87,669 |
4,181,811 |
|
|
25,875,825 |
June
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
9
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Interactive
Media & Services — 0.3% | ||
QuinStreet,
Inc. * |
35,373 |
312,343 |
TripAdvisor,
Inc. * |
25,408 |
418,978 |
Yelp,
Inc. * |
17,826 |
649,045 |
Ziff
Davis, Inc. * |
12,938 |
906,436 |
|
|
2,286,802 |
IT
Services — 0.1% | ||
Perficient,
Inc. * |
9,219 |
768,219 |
Leisure
Products — 0.7% | ||
Brunswick
Corp. |
23,734 |
2,056,314 |
Mattel,
Inc. * |
89,393 |
1,746,739 |
Polaris,
Inc. (a) |
15,245 |
1,843,578 |
YETI
Holdings, Inc. * |
18,284 |
710,150 |
|
|
6,356,781 |
Life
Sciences Tools & Services — 0.7% | ||
Azenta,
Inc. * |
20,679 |
965,295 |
Bruker
Corp. |
26,375 |
1,949,640 |
Medpace
Holdings, Inc. * |
7,034 |
1,689,356 |
Repligen
Corp. *
(a) |
4,904 |
693,720 |
Syneos
Health, Inc. * |
23,734 |
1,000,151 |
|
|
6,298,162 |
Machinery
— 5.5% | ||
AGCO
Corp. |
30,576 |
4,018,298 |
Alamo
Group, Inc. |
6,657 |
1,224,289 |
Chart
Industries, Inc. * |
9,219 |
1,473,104 |
Crane
Co. |
31,876 |
2,840,789 |
Crane
NXT Co. |
31,876 |
1,799,081 |
Esab
Corp. |
11,410 |
759,221 |
Federal
Signal Corp. |
15,329 |
981,516 |
Flowserve
Corp. |
34,910 |
1,296,907 |
Franklin
Electric Co., Inc. |
31,849 |
3,277,262 |
Graco,
Inc. |
45,904 |
3,963,810 |
Hillenbrand,
Inc. |
27,996 |
1,435,635 |
ITT,
Inc. |
44,720 |
4,168,351 |
John
Bean Technologies Corp. |
7,934 |
962,394 |
Kennametal,
Inc. |
22,103 |
627,504 |
Lincoln
Electric Holdings, Inc. |
11,278 |
2,240,149 |
Lindsay
Corp. |
2,788 |
332,720 |
Middleby
Corp. (The) * |
14,969 |
2,212,867 |
Mueller
Industries, Inc. |
15,416 |
1,345,508 |
Oshkosh
Corp. |
32,406 |
2,806,036 |
SPX
Technologies, Inc. * |
13,111 |
1,114,042 |
Standex
International Corp. |
19,963 |
2,824,166 |
Terex
Corp. |
18,926 |
1,132,343 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Machinery
— continued | ||
Timken
Co. (The) |
25,464 |
2,330,720 |
Titan
International, Inc. * |
15,158 |
174,014 |
Toro
Co. (The) |
7,665 |
779,147 |
Watts
Water Technologies, Inc., Class A |
5,875 |
1,079,414 |
|
|
47,199,287 |
Marine
Transportation — 0.3% | ||
Kirby
Corp. * |
16,103 |
1,239,126 |
Matson,
Inc. |
11,916 |
926,231 |
|
|
2,165,357 |
Media
— 0.4% | ||
Cable
One, Inc. |
2,602 |
1,709,722 |
John
Wiley & Sons, Inc., Class A |
11,250 |
382,838 |
New
York Times Co. (The), Class A |
43,874 |
1,727,758 |
|
|
3,820,318 |
Metals
& Mining — 2.3% | ||
Alcoa
Corp. |
41,146 |
1,396,084 |
Arconic
Corp. * |
41,301 |
1,221,683 |
ATI,
Inc. *
(a) |
49,242 |
2,177,974 |
Cleveland-Cliffs,
Inc. * |
129,229 |
2,165,878 |
Commercial
Metals Co. |
54,894 |
2,890,718 |
Haynes
International, Inc. |
10,084 |
512,469 |
Materion
Corp. |
10,168 |
1,161,185 |
Reliance
Steel & Aluminum Co. |
23,479 |
6,376,662 |
Royal
Gold, Inc. |
4,509 |
517,543 |
SunCoke
Energy, Inc. |
72,583 |
571,228 |
United
States Steel Corp. |
15,283 |
382,228 |
|
|
19,373,652 |
Mortgage
Real Estate Investment Trusts (REITs) — 0.5% | ||
Annaly
Capital Management, Inc. (a) |
144,488 |
2,891,205 |
Ellington
Financial, Inc. (a) |
12,789 |
176,488 |
KKR
Real Estate Finance Trust, Inc. |
16,997 |
206,854 |
PennyMac
Mortgage Investment Trust |
26,355 |
355,265 |
Ready
Capital Corp. (a) |
27,428 |
309,388 |
|
|
3,939,200 |
Multi-Utilities
— 0.3% | ||
NorthWestern
Corp. |
21,372 |
1,213,075 |
Unitil
Corp. |
25,164 |
1,276,066 |
|
|
2,489,141 |
Office
REITs — 0.7% | ||
Brandywine
Realty Trust |
126,732 |
589,304 |
Corporate
Office Properties Trust |
59,455 |
1,412,056 |
10
|
J.P.
Morgan Exchange-Traded Funds
|
June
30, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Office
REITs — continued | ||
Cousins
Properties, Inc. |
41,025 |
935,370 |
Highwoods
Properties, Inc. |
44,975 |
1,075,352 |
Hudson
Pacific Properties, Inc. |
37,072 |
156,444 |
Kilroy
Realty Corp. |
52,025 |
1,565,432 |
|
|
5,733,958 |
Oil,
Gas & Consumable Fuels — 3.4% | ||
Antero
Midstream Corp. |
74,514 |
864,362 |
Antero
Resources Corp. * |
30,627 |
705,340 |
California
Resources Corp. |
18,723 |
847,965 |
Callon
Petroleum Co. * |
11,111 |
389,663 |
Chord
Energy Corp. |
16,218 |
2,494,328 |
Civitas
Resources, Inc. |
18,841 |
1,307,000 |
CNX
Resources Corp. * |
23,735 |
420,584 |
CONSOL
Energy, Inc. |
12,791 |
867,358 |
Dorian
LPG Ltd. |
7,487 |
192,042 |
DT
Midstream, Inc. |
14,511 |
719,310 |
Equitrans
Midstream Corp. |
103,341 |
987,940 |
Green
Plains, Inc. * |
29,205 |
941,569 |
HF
Sinclair Corp. |
48,395 |
2,158,901 |
Matador
Resources Co. |
42,496 |
2,223,391 |
Murphy
Oil Corp. |
38,039 |
1,456,894 |
Ovintiv,
Inc. |
11,363 |
432,589 |
PBF
Energy, Inc., Class A |
22,157 |
907,108 |
PDC
Energy, Inc. |
43,886 |
3,122,050 |
Range
Resources Corp. |
77,546 |
2,279,852 |
REX
American Resources Corp. * |
13,005 |
452,704 |
SM
Energy Co. |
57,116 |
1,806,579 |
Southwestern
Energy Co. * |
456,402 |
2,742,976 |
Talos
Energy, Inc. * |
9,328 |
129,379 |
World
Kinect Corp. |
16,413 |
339,421 |
|
|
28,789,305 |
Paper
& Forest Products — 0.2% | ||
Louisiana-Pacific
Corp. |
25,790 |
1,933,734 |
Passenger
Airlines — 0.0% ^ | ||
Hawaiian
Holdings, Inc. * |
22,440 |
241,679 |
Personal
Care Products — 0.8% | ||
BellRing
Brands, Inc. * |
36,639 |
1,340,987 |
Coty,
Inc., Class A *
(a) |
77,102 |
947,584 |
Edgewell
Personal Care Co. |
15,258 |
630,308 |
elf
Beauty, Inc. * |
13,305 |
1,519,830 |
Inter
Parfums, Inc. |
4,947 |
668,983 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Personal
Care Products — continued | ||
Medifast,
Inc. |
12,481 |
1,150,249 |
USANA
Health Sciences, Inc. * |
2,983 |
188,048 |
|
|
6,445,989 |
Pharmaceuticals
— 0.7% | ||
Innoviva,
Inc. * |
162,064 |
2,063,075 |
Jazz
Pharmaceuticals plc * |
22,246 |
2,757,836 |
Prestige
Consumer Healthcare, Inc. * |
15,258 |
906,783 |
Supernus
Pharmaceuticals, Inc. * |
12,828 |
385,610 |
|
|
6,113,304 |
Professional
Services — 3.2% | ||
ASGN,
Inc. * |
15,158 |
1,146,400 |
CACI
International, Inc., Class A * |
12,303 |
4,193,354 |
Concentrix
Corp. |
13,764 |
1,111,443 |
ExlService
Holdings, Inc. * |
9,290 |
1,403,347 |
FTI
Consulting, Inc. *
(a) |
9,299 |
1,768,670 |
Genpact
Ltd. |
94,091 |
3,534,999 |
Heidrick
& Struggles International, Inc. |
33,142 |
877,269 |
Insperity,
Inc. |
8,771 |
1,043,398 |
KBR,
Inc. |
35,215 |
2,291,088 |
Kelly
Services, Inc., Class A |
10,612 |
186,877 |
Korn
Ferry |
36,567 |
1,811,529 |
ManpowerGroup,
Inc. |
31,755 |
2,521,347 |
Maximus,
Inc. |
17,284 |
1,460,671 |
Paylocity
Holding Corp. * |
9,513 |
1,755,434 |
Resources
Connection, Inc. |
31,051 |
487,811 |
Science
Applications International Corp. |
13,281 |
1,493,847 |
|
|
27,087,484 |
Real
Estate Management & Development — 0.4% | ||
Anywhere
Real Estate, Inc. * |
81,000 |
541,080 |
Jones
Lang LaSalle, Inc. * |
15,105 |
2,353,359 |
RE/MAX
Holdings, Inc., Class A |
5,804 |
111,785 |
|
|
3,006,224 |
Residential
REITs — 0.3% | ||
Apartment
Income REIT Corp. |
39,091 |
1,410,794 |
Centerspace |
12,490 |
766,387 |
NexPoint
Residential Trust, Inc. |
6,611 |
300,668 |
|
|
2,477,849 |
Retail
REITs — 1.9% | ||
Agree
Realty Corp. |
47,803 |
3,125,838 |
Brixmor
Property Group, Inc. |
151,223 |
3,326,906 |
Kite
Realty Group Trust |
59,116 |
1,320,651 |
Macerich
Co. (The) |
15,281 |
172,217 |
June
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
11
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Retail
REITs — continued | ||
NNN
REIT, Inc. |
75,307 |
3,222,387 |
Retail
Opportunity Investments Corp. |
121,801 |
1,645,532 |
RPT
Realty |
24,126 |
252,117 |
Saul
Centers, Inc. |
2,967 |
109,275 |
SITE
Centers Corp. |
49,842 |
658,911 |
Spirit
Realty Capital, Inc. |
42,108 |
1,658,213 |
Tanger
Factory Outlet Centers, Inc. (a) |
8,034 |
177,310 |
Urstadt
Biddle Properties, Inc., Class A |
31,680 |
673,517 |
Whitestone |
8,655 |
83,953 |
|
|
16,426,827 |
Semiconductors
& Semiconductor Equipment — 3.8% | ||
Axcelis
Technologies, Inc. * |
9,513 |
1,744,018 |
Cirrus
Logic, Inc. * |
42,885 |
3,474,114 |
Cohu,
Inc. * |
10,993 |
456,869 |
Diodes,
Inc. * |
10,712 |
990,753 |
FormFactor,
Inc. * |
23,077 |
789,695 |
Ichor
Holdings Ltd. * |
35,468 |
1,330,050 |
Kulicke
& Soffa Industries, Inc. (Singapore) |
61,616 |
3,663,071 |
Lattice
Semiconductor Corp. * |
37,766 |
3,628,180 |
MaxLinear,
Inc. * |
18,793 |
593,107 |
MKS
Instruments, Inc. |
14,385 |
1,555,018 |
Photronics,
Inc. * |
15,626 |
402,995 |
Power
Integrations, Inc. |
15,416 |
1,459,433 |
Rambus,
Inc. * |
30,212 |
1,938,704 |
Semtech
Corp. * |
18,184 |
462,965 |
Silicon
Laboratories, Inc. * |
21,235 |
3,349,609 |
SiTime
Corp. * |
4,116 |
485,564 |
SMART
Global Holdings, Inc. * |
57,514 |
1,668,481 |
Synaptics,
Inc. * |
9,155 |
781,654 |
Ultra
Clean Holdings, Inc. * |
21,182 |
814,660 |
Universal
Display Corp. |
11,186 |
1,612,238 |
Veeco
Instruments, Inc. * |
1,822 |
46,789 |
Wolfspeed,
Inc. *
(a) |
17,643 |
980,774 |
|
|
32,228,741 |
Software
— 2.9% | ||
ACI
Worldwide, Inc. * |
28,843 |
668,292 |
Adeia,
Inc. |
98,998 |
1,089,968 |
Alarm.com
Holdings, Inc. * |
5,651 |
292,044 |
Aspen
Technology, Inc. * |
7,742 |
1,297,637 |
Blackbaud,
Inc. * |
12,644 |
900,000 |
DoubleVerify
Holdings, Inc. * |
36,331 |
1,414,002 |
Dynatrace,
Inc. * |
55,329 |
2,847,784 |
Envestnet,
Inc. * |
29,109 |
1,727,619 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Software
— continued | ||
InterDigital,
Inc. |
8,581 |
828,496 |
LiveRamp
Holdings, Inc. * |
80,415 |
2,296,652 |
Manhattan
Associates, Inc. * |
17,447 |
3,487,306 |
NCR
Corp. * |
54,676 |
1,377,835 |
Progress
Software Corp. |
8,306 |
482,579 |
Qualys,
Inc. * |
8,671 |
1,120,033 |
SPS
Commerce, Inc. * |
10,614 |
2,038,525 |
Teradata
Corp. * |
27,796 |
1,484,584 |
Xperi,
Inc. * |
102,124 |
1,342,931 |
|
|
24,696,287 |
Specialized
REITs — 1.9% | ||
CubeSmart |
92,846 |
4,146,502 |
EPR
Properties |
9,613 |
449,888 |
Four
Corners Property Trust, Inc. |
7,249 |
184,125 |
Lamar
Advertising Co., Class A |
23,629 |
2,345,178 |
Life
Storage, Inc. |
36,762 |
4,887,876 |
National
Storage Affiliates Trust |
66,229 |
2,306,756 |
PotlatchDeltic
Corp. |
13,365 |
706,340 |
Rayonier,
Inc. |
50,262 |
1,578,227 |
|
|
16,604,892 |
Specialty
Retail — 3.6% | ||
Aaron's
Co., Inc. (The) |
8,947 |
126,510 |
Abercrombie
& Fitch Co., Class A * |
15,805 |
595,532 |
American
Eagle Outfitters, Inc. |
56,141 |
662,464 |
Asbury
Automotive Group, Inc. * |
8,761 |
2,106,320 |
AutoNation,
Inc. * |
20,513 |
3,376,645 |
Boot
Barn Holdings, Inc. * |
7,771 |
658,126 |
Caleres,
Inc. |
12,644 |
302,571 |
Chico's
FAS, Inc. * |
28,343 |
151,635 |
Designer
Brands, Inc., Class A |
18,373 |
185,567 |
Dick's
Sporting Goods, Inc. |
17,851 |
2,359,724 |
Five
Below, Inc. * |
11,444 |
2,249,204 |
Foot
Locker, Inc. (a) |
30,574 |
828,861 |
Group
1 Automotive, Inc. |
10,171 |
2,625,135 |
Guess?,
Inc. (a) |
12,828 |
249,505 |
Haverty
Furniture Cos., Inc. |
4,447 |
134,388 |
Hibbett,
Inc. |
4,356 |
158,079 |
Lithia
Motors, Inc., Class A |
6,935 |
2,109,003 |
Murphy
USA, Inc. |
5,993 |
1,864,482 |
ODP
Corp. (The) * |
14,746 |
690,408 |
RH *
(a) |
4,062 |
1,338,794 |
Sally
Beauty Holdings, Inc. * |
57,376 |
708,594 |
Shoe
Carnival, Inc. |
5,158 |
121,110 |
12
|
J.P.
Morgan Exchange-Traded Funds
|
June
30, 2023
|
INVESTMENTS |
SHARES |
VALUE($) |
Common
Stocks — continued | ||
Specialty
Retail — continued | ||
Signet
Jewelers Ltd. |
15,416 |
1,006,048 |
Sleep
Number Corp. * |
6,103 |
166,490 |
Upbound
Group, Inc. |
31,659 |
985,545 |
Urban
Outfitters, Inc. * |
18,668 |
618,471 |
Valvoline,
Inc. |
51,173 |
1,919,499 |
Williams-Sonoma,
Inc. |
22,335 |
2,795,002 |
|
|
31,093,712 |
Technology
Hardware, Storage & Peripherals — 0.6% | ||
Avid
Technology, Inc. * |
75,320 |
1,920,660 |
Super
Micro Computer, Inc. * |
12,376 |
3,084,718 |
|
|
5,005,378 |
Textiles,
Apparel & Luxury Goods — 1.7% | ||
Capri
Holdings Ltd. * |
41,834 |
1,501,422 |
Carter's,
Inc. |
8,771 |
636,775 |
Columbia
Sportswear Co. |
2,231 |
172,322 |
Crocs,
Inc. * |
17,089 |
1,921,487 |
Deckers
Outdoor Corp. * |
7,665 |
4,044,514 |
G-III
Apparel Group Ltd. * |
11,444 |
220,526 |
Kontoor
Brands, Inc. |
15,048 |
633,521 |
Oxford
Industries, Inc. |
4,062 |
399,782 |
PVH
Corp. |
17,584 |
1,494,113 |
Skechers
U.S.A., Inc., Class A * |
47,598 |
2,506,511 |
Steven
Madden Ltd. |
21,848 |
714,211 |
Wolverine
World Wide, Inc. |
21,883 |
321,461 |
|
|
14,566,645 |
Tobacco
— 0.0% ^ | ||
Vector
Group Ltd. |
32,143 |
411,752 |
Trading
Companies & Distributors — 1.7% | ||
Boise
Cascade Co. |
17,447 |
1,576,336 |
DXP
Enterprises, Inc. * |
3,425 |
124,704 |
GATX
Corp. |
5,997 |
772,054 |
GMS,
Inc. * |
47,256 |
3,270,115 |
MSC
Industrial Direct Co., Inc., Class A |
12,375 |
1,179,090 |
NOW,
Inc. * |
179,660 |
1,861,278 |
Univar
Solutions, Inc. * |
42,619 |
1,527,465 |
Veritiv
Corp. |
3,852 |
483,850 |
Watsco,
Inc. (a) |
8,805 |
3,358,843 |
|
|
14,153,735 |
Water
Utilities — 0.6% | ||
American
States Water Co. |
9,557 |
831,459 |
INVESTMENTS |
SHARES |
VALUE($) |
| ||
Water
Utilities — continued | ||
California
Water Service Group |
12,644 |
652,810 |
Essential
Utilities, Inc. (a) |
87,908 |
3,508,408 |
|
|
4,992,677 |
Wireless
Telecommunication Services — 0.1% | ||
Gogo,
Inc. * |
60,396 |
1,027,336 |
Total
Common Stocks
(Cost
$602,937,871) |
|
833,167,959 |
Short-Term
Investments — 5.1% | ||
Investment
Companies — 2.3% | ||
JPMorgan
U.S. Government Money Market Fund
Class
IM Shares, 5.05% (b)
(c)
(Cost
$19,564,496) |
19,564,496 |
19,564,496 |
Investment
of Cash Collateral from Securities Loaned — 2.8% | ||
JPMorgan
Securities Lending Money Market
Fund
Agency SL Class Shares, 5.29% (b)
(c) |
17,996,401 |
17,998,200 |
JPMorgan
U.S. Government Money Market Fund
Class
IM Shares, 5.05% (b)
(c) |
5,817,078 |
5,817,078 |
Total
Investment of Cash Collateral from
Securities
Loaned
(Cost
$23,815,278) |
|
23,815,278 |
Total
Short-Term Investments
(Cost
$43,379,774) |
|
43,379,774 |
Total
Investments — 102.6%
(Cost
$646,317,645) |
|
876,547,733 |
Liabilities
in Excess of Other Assets — (2.6)% |
|
(21,987,361
) |
NET
ASSETS — 100.0% |
|
854,560,372 |
Percentages
indicated are based on net
assets. |
Abbreviations |
|
REIT |
Real
Estate Investment Trust |
^ |
Amount
rounds to less than 0.1% of net assets. | |
* |
Non-income
producing security.
|
|
(a) |
The
security or a portion of this security is on loan at
June
30, 2023. The total value of securities on loan at
June
30, 2023 is $23,326,174. |
|
(b) |
Investment
in an affiliated fund, which is registered
under
the Investment Company Act of 1940, as
amended,
and is advised by J.P. Morgan Investment
Management
Inc. |
|
(c) |
The
rate shown is the current yield as of June 30,
2023. |
|
June
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
13
|
DESCRIPTION |
NUMBER
OF
CONTRACTS |
EXPIRATION
DATE |
TRADING
CURRENCY |
NOTIONAL
AMOUNT
($) |
VALUE
AND
UNREALIZED
APPRECIATION
(DEPRECIATION)
($) |
Long
Contracts |
|
|
|
|
|
Russell
2000 E-Mini Index |
49 |
09/15/2023 |
USD |
4,662,840 |
35,260 |
S&P
MidCap 400 E-Mini Index |
54 |
09/15/2023 |
USD |
14,277,060 |
369,440 |
|
|
|
|
|
404,700 |
Abbreviations |
|
USD |
United
States Dollar |
14
|
J.P.
Morgan Exchange-Traded Funds
|
June
30, 2023
|
|
JPMorgan
Market
Expansion
Enhanced
Equity
ETF |
ASSETS: |
|
Investments
in non-affiliates, at value |
$833,167,959 |
Investments
in affiliates, at value |
19,564,496 |
Investments
of cash collateral received from securities loaned, at value (See
Note 2.B.) |
23,815,278 |
Cash |
82,717 |
Deposits
at broker for futures contracts |
1,281,000 |
Receivables: |
|
Investment
securities sold |
59,254 |
Dividends
from non-affiliates |
830,241 |
Dividends
from affiliates |
2,709 |
Securities
lending income (See
Note 2.B.) |
11,589 |
Variation
margin on futures contracts |
100,529 |
Total
Assets |
878,915,772 |
LIABILITIES: |
|
Payables: |
|
Investment
securities purchased |
318,994 |
Collateral
received on securities loaned (See
Note 2.B.) |
23,815,278 |
Accrued
liabilities: |
|
Investment
advisory fees |
90,346 |
Administration
fees |
50,967 |
Printing
and mailing costs |
21,747 |
Custodian
and accounting fees |
16,662 |
Other |
41,406 |
Total
Liabilities |
24,355,400 |
Net
Assets |
$854,560,372 |
NET
ASSETS: |
|
Paid-in-Capital |
$627,894,304 |
Total
distributable earnings (loss) |
226,666,068 |
Total
Net Assets |
$854,560,372 |
Outstanding
number of shares
(unlimited
number of shares authorized - par value $0.0001) |
17,048,634 |
Net
asset value, per share |
$50.12 |
Cost
of investments in non-affiliates |
$602,937,871 |
Cost
of investments in affiliates |
19,564,496 |
Investment
securities on loan, at value (See
Note 2.B.) |
23,326,174 |
Cost
of investment of cash collateral (See
Note 2.B.) |
23,815,278 |
June
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
15
|
|
JPMorgan
Market
Expansion
Enhanced
Equity
ETF
|
INVESTMENT
INCOME: |
|
Interest
income from non-affiliates |
$112,533 |
Interest
income from affiliates |
179 |
Dividend
income from non-affiliates |
12,331,789 |
Dividend
income from affiliates |
797,866 |
Income
from securities lending (net) (See
Note 2.B.) |
213,434 |
Total
investment income |
13,455,801 |
EXPENSES: |
|
Investment
advisory fees |
2,082,505 |
Administration
fees |
624,755 |
Custodian
and accounting fees |
56,908 |
Professional
fees |
48,257 |
Trustees’
and Chief Compliance Officer’s fees |
26,474 |
Printing
and mailing costs |
84,893 |
Registration
and filing fees |
61,797 |
Other |
27,482 |
Total
expenses |
3,013,071 |
Less
fees waived |
(62,621
) |
Less
expense reimbursements |
(976,495
) |
Net
expenses |
1,973,955 |
Net
investment income (loss) |
11,481,846 |
REALIZED/UNREALIZED
GAINS (LOSSES): |
|
Net
realized gain (loss) on transactions from: |
|
Investments
in non-affiliates |
13,885,892 |
In-kind
redemptions of investments in non-affiliates (See
Note 4) |
34,709,226 |
Futures
contracts |
1,625,751 |
Net
realized gain (loss) |
50,220,869 |
Change
in net unrealized appreciation/depreciation on: |
|
Investments
in non-affiliates |
68,259,447 |
Futures
contracts |
1,661,387 |
Change
in net unrealized appreciation/depreciation |
69,920,834 |
Net
realized/unrealized gains (losses) |
120,141,703 |
Change
in net assets resulting from operations |
$131,623,549 |
16
|
J.P.
Morgan Exchange-Traded Funds
|
June
30, 2023
|
|
JPMorgan
Market Expansion
Enhanced
Equity ETF | |
|
Year
Ended
June
30, 2023
|
Year
Ended June
30, 2022 (a) |
CHANGE
IN NET ASSETS RESULTING FROM OPERATIONS: |
|
|
Net
investment income (loss) |
$11,481,846 |
$12,427,409 |
Net
realized gain (loss) |
50,220,869 |
99,215,056 |
Change
in net unrealized appreciation/depreciation |
69,920,834 |
(248,681,340
) |
Change
in net assets resulting from operations |
131,623,549 |
(137,038,875
) |
DISTRIBUTIONS
TO SHAREHOLDERS: |
|
|
Total
distributions to shareholders |
(52,218,514
) |
(176,087,906
) |
CAPITAL
TRANSACTIONS: |
|
|
Change
in net assets resulting from capital transactions |
(58,838,049
) |
26,187,530 |
NET
ASSETS: |
|
|
Change
in net assets |
20,566,986 |
(286,939,251
) |
Beginning
of period |
833,993,386 |
1,120,932,637 |
End
of period |
$854,560,372 |
$833,993,386 |
June
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
17
|
|
JPMorgan
Market Expansion
Enhanced
Equity ETF | |
|
Year
Ended
June
30, 2023 |
Year
Ended June
30, 2022(a) |
CAPITAL
TRANSACTIONS: (b) |
|
|
Proceeds
from shares issued |
$20,677,423 |
$16,072,047 |
Distributions
reinvested |
— |
123,329,499 |
Cost
of shares redeemed |
(79,515,472
) |
(53,645,989
) |
Change
in net assets resulting from capital transactions |
(58,838,049
) |
85,755,557 |
Class
A |
|
|
Proceeds
from shares issued |
— |
7,213,239 |
Distributions
reinvested |
— |
17,945,255 |
Cost
of shares redeemed |
— |
(41,770,683
) |
Change
in net assets resulting from Class A capital
transactions |
— |
(16,612,189
) |
Class
C |
|
|
Proceeds
from shares issued |
— |
1,510,970 |
Distributions
reinvested |
— |
3,548,357 |
Cost
of shares redeemed |
— |
(11,945,898
) |
Change
in net assets resulting from Class C capital
transactions |
— |
(6,886,571
) |
Class
I |
|
|
Proceeds
from shares issued |
— |
32,169,494 |
Distributions
reinvested |
— |
23,772,565 |
Cost
of shares redeemed |
— |
(83,394,480
) |
Change
in net assets resulting from Class I capital
transactions |
— |
(27,452,421
) |
Class
R2 |
|
|
Proceeds
from shares issued |
— |
2,031,211 |
Distributions
reinvested |
— |
1,950,085 |
Cost
of shares redeemed |
— |
(12,598,142
) |
Change
in net assets resulting from Class R2 capital
transactions |
— |
(8,616,846
) |
Total
change in net assets resulting from capital
transactions |
$(58,838,049
) |
$26,187,530 |
18
|
J.P.
Morgan Exchange-Traded Funds
|
June
30, 2023
|
|
JPMorgan
Market Expansion
Enhanced
Equity ETF | |
|
Year
Ended
June
30, 2023 |
Year
Ended June
30, 2022(a) |
SHARES
TRANSACTIONS: (b) |
|
|
Issued |
425,000 |
267,214 |
Reinvested |
— |
2,224,181 |
Redeemed |
(1,575,000
) |
(1,008,937
) |
Change
in Shares |
(1,150,000
) |
1,482,458 |
Class
A |
|
|
Issued |
— |
120,263 |
Reinvested |
— |
322,868 |
Redeemed |
— |
(750,550
) |
Change
in Class A Shares |
— |
(307,419
) |
Class
C |
|
|
Issued |
— |
23,706 |
Reinvested |
— |
63,214 |
Redeemed |
— |
(204,223
) |
Change
in Class C Shares |
— |
(117,303
) |
Class
I |
|
|
Issued |
— |
541,296 |
Reinvested |
— |
427,319 |
Redeemed |
— |
(1,480,505
) |
Change
in Class I Shares |
— |
(511,890
) |
Class
R2 |
|
|
Issued |
— |
32,990 |
Reinvested |
— |
34,939 |
Redeemed |
— |
(230,081
) |
Change
in Class R2 Shares |
— |
(162,152
) |
June
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
19
|
|
Per
share operating performance (a) | ||||||
|
|
Investment
operations |
Distributions | ||||
|
Net
asset
value
beginning
of
period |
Net
investment
income
loss(c) |
Net
realized
and
unrealized
gains
(losses)
on
investments |
Total
from
investment
operations |
Net
investment
income |
Net
realized
gain |
Total
Distributions |
JPMorgan
Market Expansion Enhanced Equity ETF
(g) |
|
|
|
|
|
|
|
Year
Ended June
30, 2023 |
$45.83 |
$0.67 |
$6.67 |
$7.34 |
$(0.66
) |
$(2.39
) |
$(3.05
) |
Year
Ended June
30, 2022 |
62.87 |
0.70 |
(8.03
) |
(7.33
) |
(0.66
) |
(9.05
) |
(9.71
) |
Year
Ended June
30, 2021 |
41.41 |
0.63 |
23.22 |
23.85 |
(0.63
) |
(1.76
) |
(2.39
) |
Year
Ended June
30, 2020 |
48.77 |
0.63 |
(4.82
) |
(4.19
) |
(0.68
) |
(2.49
) |
(3.17
) |
October
1, 2018 through June
30, 2019 |
58.92 |
0.54 |
(4.01
) |
(3.47
) |
(0.68
) |
(6.00
) |
(6.68
) |
Year Ended June
30, 2019 |
57.67 |
0.63 |
(3.24
) |
(2.61
) |
(0.44
) |
(5.95
) |
(6.39
) |
| |
(a) |
Per
Share amounts reflect the conversion of the Predecessor Fund into the Fund
as of the close of business on May 6, 2022. See Note
1. |
(b) |
Annualized
for periods less than one year, unless otherwise
noted. |
(c) |
Calculated
based upon average shares outstanding. |
(d) |
Not
annualized for periods less than one year. |
(e) |
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. |
(f) |
JPMorgan
Market Expansion Enhanced Equity ETF acquired all of the assets and
liabilities of the JPMorgan Market Expansion Enhanced Index Fund
(“Predecessor
Fund”)
in a reorganization on May 6, 2022. Market price returns are calculated
using the official closing price of the JPMorgan Market Expansion Enhanced
Equity
ETF
on the listing exchange as of the time that the JPMorgan Market Expansion
Enhanced Equity ETF's NAV is calculated. Prior to the JPMorgan Market
Expansion
Enhanced
Equity ETF's listing on May 9, 2022, the NAV performance of the Class R6
and the Class I Shares of the Predecessor Fund are used as proxy market
price
returns. |
(g) |
JPMorgan
Market Expansion Enhanced Equity ETF (the “Fund”) acquired all of the
assets and liabilities of the JPMorgan Market Expansion Enhanced Index
Fund
(“Predecessor
Fund”) in a reorganization that occurred as of the close of business on
May 6, 2022. Performance and financial history of the Predecessor Fund’s
Class
R6 Shares have been adopted by the Fund and will be used going forward. As
a result, the financial highlight information reflects that of the
Predecessor
Fund’s
Class R6 Shares for the period October 1, 2018 (“Predecessor Fund's Class
R6 Shares inception date”) up through the reorganization and the
Predecessor
Fund's
Class I Shares for the period July 1, 2018 through June 30,
2019. |
20
|
J.P.
Morgan Exchange-Traded Funds
|
June
30, 2023
|
|
Ratios/Supplemental
data
| |||||||
|
|
|
|
|
Ratios
to average net assets (b) | |||
Net
asset
value,
end
of
period |
Market
price,
end
of
period |
Total
Return(d)(e) |
Market
price
total
return(d)(f) |
Net
assets,
end
of
period |
Net
expenses |
Net
investment
income
(loss) |
Expenses
without
waivers
and
reimbursements |
Portfolio
turnover
rate(d) |
|
|
|
|
|
|
|
|
|
$50.12 |
$50.16 |
16.61
% |
16.73
% |
$854,560,372 |
0.24
% |
1.38
% |
0.36
% |
29
% |
45.83 |
45.82 |
(13.80
) |
(13.81
) |
833,993,386 |
0.25 |
1.21 |
0.36 |
27 |
62.87 |
62.87 |
58.97 |
58.97 |
766,008,977 |
0.25 |
1.18 |
0.35 |
35 |
41.41 |
41.41 |
(9.65
) |
(9.65
) |
500,129,035 |
0.25 |
1.45 |
0.36 |
49 |
48.77 |
48.77 |
(4.81
) |
(4.81
) |
512,511,625 |
0.25 |
1.51 |
0.37 |
36 |
48.67 |
48.67 |
(3.56
) |
(3.56
) |
264,414,719 |
0.34 |
1.14 |
0.61 |
36 |
June
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
21
|
22
|
J.P.
Morgan Exchange-Traded Funds
|
June
30, 2023
|
|
|
| ||
|
Level
1
Quoted
prices |
Level
2
Other
significant
observable
inputs |
Level
3
Significant
unobservable
inputs |
Total |
Total
Investments in Securities (a) |
$876,547,733 |
$— |
$— |
$876,547,733 |
Appreciation
in Other Financial Instruments |
|
|
|
|
Futures
Contracts (a) |
$404,700 |
$— |
$— |
$404,700 |
| |
(a) |
Please
refer to the SOI for specifics of portfolio
holdings. |
June
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
23
|
|
Investment
Securities
on
Loan, at value,
Presented
on the
Statement
of Assets
and
Liabilities |
Cash
Collateral
Posted
by Borrower* |
Net
Amount Due
to
Counterparty
(not
less than zero) |
|
$23,326,174 |
$(23,326,174
) |
$— |
| |
* |
Collateral
posted reflects the value of securities on loan and does not include any
additional amounts received from the
borrower. |
|
$2,935 |
24
|
J.P.
Morgan Exchange-Traded Funds
|
June
30, 2023
|
| |||||||||
For
the year ended June 30, 2023 | |||||||||
Security
Description |
Value
at
June
30,
2022 |
Purchases
at
Cost |
Proceeds
from
Sales |
Net
Realized
Gain
(Loss) |
Change
in
Unrealized
Appreciation/
(Depreciation) |
Value
at
June
30,
2023 |
Shares
at
June
30,
2023 |
Dividend
Income |
Capital
Gain
Distributions |
JPMorgan
Securities Lending
Money
Market Fund Agency
SL
Class Shares, 5.29%
(a)
(b) |
$— |
$83,000,000 |
$65,000,001 |
$(1,799
)* |
$— |
$17,998,200 |
17,996,401 |
$303,250
* |
$— |
JPMorgan
U.S. Government
Money
Market Fund Class IM
Shares,
5.05% (a)
(b) |
4,706,771 |
84,397,428 |
83,287,121 |
— |
— |
5,817,078 |
5,817,078 |
108,333
* |
— |
JPMorgan
U.S. Government
Money
Market Fund Class IM
Shares,
5.05% (a)
(b) |
29,389,113 |
156,432,490 |
166,257,107 |
— |
— |
19,564,496 |
19,564,496 |
797,866 |
— |
Total |
$34,095,884 |
$323,829,918 |
$314,544,229 |
$(1,799
) |
$— |
$43,379,774 |
|
$1,209,449 |
$— |
| |
(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 June 30,
2023. |
* |
Amount
is included on the Statement of Operations as Income from securities
lending (net) (after payments of rebates and Citibank’s
fee). |
|
|
Futures
Contracts: |
|
Average
Notional Balance Long |
$22,564,980 |
Ending
Notional Balance Long |
18,939,900 |
June
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
25
|
|
Paid-in-Capital |
Accumulated
undistributed
(distributions
in
excess
of)
net
investment
income |
Accumulated
net
realized
gains
(losses) |
|
$32,800,816 |
$113,491 |
$(32,914,307
) |
26
|
J.P.
Morgan Exchange-Traded Funds
|
June
30, 2023
|
|
Contractual
Waivers |
|
|
Investment
Advisory
Fees |
Contractual
Reimbursements |
|
$32,497 |
$974,799 |
June
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
27
|
|
Purchases
(excluding
U.S.
Government) |
Sales
(excluding
U.S.
Government) |
|
$233,976,218 |
$267,600,184 |
|
In-Kind
Purchases |
In-Kind
Sales |
|
$20,015,830 |
$76,195,071 |
|
Aggregate
Cost |
Gross
Unrealized
Appreciation |
Gross
Unrealized
Depreciation |
Net
Unrealized
Appreciation
(Depreciation) |
|
$651,196,819 |
$268,251,498 |
$42,495,884 |
$225,755,614 |
|
Ordinary
Income* |
Net
Long-Term
Capital
Gains |
Total
Distributions
Paid |
|
$11,287,892 |
$40,930,622 |
$52,218,514 |
| |
* |
Short-term
gain distributions are treated as ordinary income for income tax
purposes. |
|
Ordinary
Income* |
Net
Long-Term
Capital
Gains |
Total
Distributions
Paid |
|
$43,345,176 |
$132,742,730 |
$176,087,906 |
| |
* |
Short-term
gain distributions are treated as ordinary income for income tax
purposes. |
|
Current
Distributable
Ordinary
Income |
Unrealized
Appreciation
(Depreciation) |
|
$5,667,356 |
$225,755,614 |
28
|
J.P.
Morgan Exchange-Traded Funds
|
June
30, 2023
|
|
Net
Capital Losses (Gains) | |
|
Short-Term |
Long-Term |
|
$7,063,101 |
$(2,363,848
) |
|
J.P.
Morgan
Investor
Funds |
|
71.7
% |
June
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
29
|
30
|
J.P.
Morgan Exchange-Traded Funds
|
June
30, 2023
|
June
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
31
|
Name
(Year of Birth);
Positions
With
the
Funds (1) |
Principal
Occupation
During
Past 5 Years |
Number
of
Funds
in Fund
Complex
Overseen
by
Trustee (2) |
Other
Directorships Held
During
the Past 5 Years |
Independent
Trustees |
| ||
John
F. Finn (1947); Chair
since
2020; Trustee since
1998. |
Chairman,
Gardner, Inc. (supply chain
management
company serving industrial and
consumer
markets) (serving in various roles
1974-present). |
176 |
Director,
Greif, Inc. (GEF) (industrial
package
products and services)
(2007-present);
Trustee, Columbus
Association
for the Performing Arts
(1988-present). |
Stephen
P. Fisher (1959);
Trustee
since 2018. |
Retired;
Chairman and Chief Executive Officer,
NYLIFE
Distributors LLC (registered
broker-dealer)
(serving in various roles
2008-2013);
Chairman, NYLIM Service
Company
LLC (transfer agent) (2008-2017);
New
York Life Investment Management LLC
(registered
investment adviser) (serving in
various
roles 2005-2017); Chairman, IndexIQ
Advisors
LLC (registered investment adviser
for
ETFs) (2014-2017); President, MainStay VP
Funds
Trust (2007-2017), MainStay
DefinedTerm
Municipal Opportunities Fund
(2011-2017)
and MainStay Funds Trust
(2007-2017)
(registered investment
companies). |
176 |
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). |
176 |
Independent
Trustee, The China Fund,
Inc.
(2013-2019); Exchange Traded
Concepts
Trust II (2012-2014); Exchange
Traded
Concepts Trust I (2011-2014). |
Kathleen
M. Gallagher (1958);
Trustee
since 2018. |
Retired;
Chief Investment Officer — Benefit
Plans,
Ford Motor Company (serving in various
roles
1985-2016). |
176 |
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). |
176 |
None |
32
|
J.P.
Morgan Exchange-Traded Funds
|
June
30, 2023
|
Name
(Year of Birth);
Positions
With
the
Funds (1) |
Principal
Occupation
During
Past 5 Years |
Number
of
Funds
in Fund
Complex
Overseen
by
Trustee (2) |
Other
Directorships Held
During
the Past 5 Years |
Independent
Trustees (continued) |
| ||
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). |
176 |
None |
Raymond
Kanner (1953);
Trustee
since 2017. |
Retired;
Managing Director and Chief
Investment
Officer, IBM Retirement Funds
(2007-2016). |
176 |
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. |
176 |
(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). |
176 |
Director,
ICI Mutual Insurance Company
(1999-2013). |
Mary
E. Martinez (1960); Vice
Chair
since 2021; Trustee
since
2013. |
Associate,
Special Properties, a Christie’s
International
Real Estate Affiliate
(2010-present);
Managing Director, Bank of
America
(asset management) (2007-2008);
Chief
Operating Officer, U.S. Trust Asset
Management,
U.S. Trust Company (asset
management)
(2003-2007); President,
Excelsior
Funds (registered investment
companies)
(2004-2005). |
176 |
None |
Marilyn
McCoy (1948);
Trustee
since 1999. |
Retired;
Vice President of Administration and
Planning,
Northwestern University
(1985-2023). |
176 |
None |
June
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
33
|
Name
(Year of Birth);
Positions
With
the
Funds (1) |
Principal
Occupation
During
Past 5 Years |
Number
of
Funds
in Fund
Complex
Overseen
by
Trustee (2) |
Other
Directorships Held
During
the Past 5 Years |
Independent
Trustees (continued) |
| ||
Dr.
Robert A. Oden, Jr.
(1946);
Trustee
since
1997. |
Retired;
President, Carleton College
(2002-2010);
President, Kenyon College
(1995-2002). |
176 |
Trustee,
The Coldwater Conservation
Fund
(2017-present); Trustee, American
Museum
of Fly Fishing (2013-present);
Trustee
and Vice Chair, Trout Unlimited
(2017-2021);
Trustee, Dartmouth-
Hitchcock
Medical Center (2011-2020). |
Marian
U. Pardo* (1946);
Trustee
since 2013. |
Managing
Director and Founder, Virtual
Capital
Management LLC (investment
consulting)
(2007-present); Managing Director,
Credit
Suisse Asset Management (portfolio
manager)
(2003-2006). |
176 |
Board
Chair and Member, Board of
Governors,
Columbus Citizens
Foundation
(not-for-profit supporting
philanthropic
and cultural programs)
(2006-present). |
Emily
A. Youssouf (1951);
Trustee
since 2014. |
Adjunct
Professor (2011-present) and Clinical
Professor
(2009-2011), NYU Schack Institute of
Real
Estate; Board Member and Member of the
Audit
Committee (2013–present), Chair of
Finance
Committee (2019-present), Member of
Related
Parties Committee (2013-2018) and
Member
of the Enterprise Risk Committee
(2015-2018),
PennyMac Financial Services, Inc.;
Board
Member (2005-2018), Chair of Capital
Committee
(2006-2016), Chair of Audit
Committee
(2005-2018), Member of Finance
Committee
(2005-2018) and Chair of IT
Committee
(2016-2018), NYC Health and
Hospitals
Corporation. |
176 |
Trustee,
NYC School Construction
Authority
(2009-present); Board
Member,
NYS Job Development
Authority
(2008-present); Trustee and
Chair
of the Audit Committee of the
Transit
Center Foundation (2015-2019). |
Interested
Trustees |
| ||
Robert
F. Deutsch** (1957);
Trustee
since 2014. |
Retired;
Head of ETF Business for JPMorgan
Asset
Management (2013-2017); Head of
Global
Liquidity Business for JPMorgan Asset
Management
(2003-2013). |
176 |
Treasurer
and Director of the JUST
Capital
Foundation (2017-present). |
Nina
O. Shenker** (1957);
Trustee
since 2022. |
Vice
Chair (2017-2021), General Counsel and
Managing
Director (2008-2016), Associate
General
Counsel and Managing Director
(2004-2008),
J.P. Morgan Asset & Wealth
Management. |
176 |
Director
and Member of Legal and
Human
Resources Subcommittees,
American
Jewish Joint Distribution
Committee
(2018-present). |
| |||
(1) |
The
year shown is the first year in which a Trustee became a member of any of
the following: the JPMorgan Mutual Fund Board, the JPMorgan
ETF
Board, the heritage J.P. Morgan Funds or the heritage One Group Mutual
Funds. Trustees serve an indefinite term, until resignation,
retirement,
removal or death. The Board's current retirement policy sets retirement at
the end of the calendar year in which the Trustee attains
the
age of 75, provided that any Board member who was a member of the JPMorgan
Mutual Fund Board prior to January 1, 2022 and was born
prior
to January 1, 1950 shall retire from the Board at the end of the calendar
year in which the Trustee attains the age of 78. | ||
(2) |
A
Fund Complex means two or more registered investment companies that hold
themselves out to investors as related companies for purposes
of
investment and investor services or have a common investment adviser or
have an investment adviser that is an affiliated person of the
investment
adviser of any of the other registered investment companies. The J.P.
Morgan Funds Complex for which the Board of Trustees serves
currently
includes nine registered investment companies (176 J.P. Morgan
Funds). | ||
* |
In
connection with prior employment with JPMorgan Chase, Ms. Pardo was the
recipient of non-qualified pension plan payments from JPMorgan
Chase
in the amount of approximately $2,055 per month, which she irrevocably
waived effective January 1, 2013, and deferred compensation
payments
from JPMorgan Chase in the amount of approximately $7,294 per year, which
ended in January 2013. In addition, Ms. Pardo receives
payments
from a fully-funded qualified plan, which is not an obligation of JPMorgan
Chase. |
34
|
J.P.
Morgan Exchange-Traded Funds
|
June
30, 2023
|
** |
Designation
as an “Interested Trustee” is based on prior employment by the Adviser or
an affiliate of the Adviser or interests in a control person
of
the Adviser. | ||
|
The
contact address for each of the Trustees is 277 Park Avenue, New York, NY
10172. |
June
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
35
|
Name
(Year of Birth),
Positions
Held with
the
Trust (Since) |
Principal
Occupations During Past 5 Years |
Brian
S. Shlissel (1964),
President
and Principal Executive
Officer
(2021) |
Managing
Director and Chief Administrative Officer for J.P. Morgan pooled vehicles,
J.P. Morgan Investment
Management
Inc. since 2014. |
Timothy
J. Clemens (1975),
Treasurer
and Principal Financial
Officer
(2020) |
Managing
Director, J.P. Morgan Investment Management Inc. Mr. Clemens has been with
J.P. Morgan
Investment
Management Inc. since 2013. |
Gregory
S. Samuels (1980),
Secretary
(2022) (formerly
Assistant
Secretary
2014-2022) |
Managing
Director and Assistant General Counsel, JPMorgan Chase & Co. Mr.
Samuels has been with
JPMorgan
Chase & Co. since 2010. |
Stephen
M. Ungerman (1953),
Chief
Compliance Officer (2014) |
Managing
Director, JPMorgan Chase & Co. Mr. Ungerman has been with JPMorgan
Chase & Co. since 2000. |
Kiesha
Astwood-Smith (1973),
Assistant
Secretary (2021) |
Vice
President and Assistant General Counsel, JPMorgan Chase & Co. since
June 2021; Senior Director and
Counsel,
Equitable Financial Life Insurance Company (formerly, AXA Equitable Life
Insurance Company) from
September
2015 through June 2021. |
Matthew
Beck (1988),
Assistant
Secretary (2021)* |
Vice
President and Assistant General Counsel, JPMorgan Chase & Co. since
May 2021; Senior Legal Counsel,
Ultimus
Fund Solutions from May 2018 through May 2021; General Counsel, The
Nottingham Company from
April
2014 through May 2018. |
Elizabeth
A. Davin (1964),
Assistant
Secretary (2022)
(formerly
Secretary 2018-2022)* |
Executive
Director and Assistant General Counsel, JPMorgan Chase & Co. Ms. Davin
has been with JPMorgan
Chase
& Co. (formerly Bank One Corporation) since
2004. |
Jessica
K. Ditullio (1962),
Assistant
Secretary (2014)* |
Executive
Director and Assistant General Counsel, JPMorgan Chase & Co. Ms.
Ditullio has been with JPMorgan
Chase
& Co. (formerly Bank One Corporation) since
1990. |
Anthony
Geron (1971),
Assistant
Secretary (2019) |
Vice
President and Assistant General Counsel, JPMorgan Chase & Co. since
September 2018; Lead Director
and
Counsel, AXA Equitable Life Insurance Company from 2015 to 2018 and Senior
Director and Counsel, AXA
Equitable
Life Insurance Company from 2014 to 2015. |
Carmine
Lekstutis (1980),
Assistant
Secretary (2014) |
Executive
Director and Assistant General Counsel, JPMorgan Chase & Co. Mr.
Lekstutis has been with
JPMorgan
Chase & Co. since 2011. |
Max
Vogel (1990),
Assistant
Secretary (2021) |
Vice
President and Assistant General Counsel, JPMorgan Chase & Co. since
June 2021; Associate, Proskauer
Rose
LLP (law firm) from March 2017 to June 2021. |
Zachary
E. Vonnegut-Gabovitch
(1986),
Assistant
Secretary (2017) |
Executive
Director and Assistant General Counsel, JPMorgan Chase & Co. Mr.
Vonnegut-Gabovitch has been
with
JPMorgan Chase & Co. since September 2016.
|
Frederick
J. Cavaliere (1978),
Assistant
Treasurer (2015)** |
Executive
Director, J.P. Morgan Investment Management Inc. Mr. Cavaliere has been
with JPMorgan Chase &
Co.
since May 2006. |
Michael
M. D’Ambrosio (1969),
Assistant
Treasurer (2014) |
Managing
Director, J.P. Morgan Investment Management Inc. Mr. D’Ambrosio has been
with J.P. Morgan
Investment
Management Inc. since 2012. |
Aleksandr
Fleytekh (1972),
Assistant
Treasurer (2023) |
Executive
Director, J.P. Morgan Investment Management Inc. Mr. Fleytekh has been
with J.P. Morgan
Investment
Management Inc. since February 2012. |
Shannon
Gaines (1977),
Assistant
Treasurer (2019)* |
Executive
Director, J.P. Morgan Investment Management Inc. Mr. Gaines has been with
J.P. Morgan Investment
Management
Inc. since January 2014. |
Jeffrey
D. House (1972),
Assistant
Treasurer (2023)* |
Vice
President, J.P. Morgan Investment Management Inc. since July
2006. |
Michael
Mannarino (1985),
Assistant
Treasurer (2023) |
Vice
President, J.P. Morgan Investment Management Inc. since
2014. |
36
|
J.P.
Morgan Exchange-Traded Funds
|
June
30, 2023
|
Nektarios
E. Manolakakis (1972),
Assistant
Treasurer (2020) |
Executive
Director, J.P. Morgan Investment Management Inc. since February 2021,
formerly Vice President, J.P.
Morgan
Investment Management Inc. since 2014; Vice President, J.P. Morgan
Corporate & Investment Bank
2010-2014. |
Todd
McEwen (1981),
Assistant
Treasurer (2020)* |
Vice
President, J.P. Morgan Investment Management Inc. Mr. McEwen has been with
J.P. Morgan Investment
Management
Inc. since 2010. |
Joseph
Parascondola (1963),
Assistant
Treasurer (2023)** |
Executive
Director, J.P. Morgan Investment Management Inc. Mr. Parascondola has been
with J.P. Morgan
Investment
Management Inc. since 2006. |
Gillian
I. Sands (1969),
Assistant
Treasurer (2023) |
Executive
Director, J.P. Morgan Investment Management Inc. Ms. Sands has been with
J.P. Morgan Investment
Management
Inc. since 2012. |
| |
The
contact address for each of the officers, unless otherwise noted, is 277
Park Avenue, New York, NY 10172. | |
* |
The
contact address for the officer is 1111 Polaris Parkway, Columbus, OH
43240. |
** |
The
contact address for the officer is 575 Washington Boulevard, Jersey City,
NJ 07310.
|
June
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
37
|
|
Beginning
Account
Value
January
1, 2023 |
Ending
Account
Value
June
30, 2023 |
Expenses
Paid
During
the
Period*
|
Annualized
Expense
Ratio |
JPMorgan
Market Expansion Enhanced Equity ETF |
|
|
|
|
Actual |
$1,000.00 |
$1,087.90 |
$1.24 |
0.24
% |
Hypothetical |
1,000.00 |
1,023.60 |
1.20 |
0.24 |
| |
* |
Expenses
are equal to the Fund’s annualized net expense ratio, multiplied by
the average account value over the period, multiplied by 181/365
(to
reflect the one-half year
period). |
38
|
J.P.
Morgan Exchange-Traded Funds
|
June
30, 2023
|
June
30, 2023
|
J.P.
Morgan Exchange-Traded Funds
|
39
|