Annual Report
J.P. Morgan Exchange-Traded Funds
February 28, 2022
Ticker | Listing Exchange | |||
JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF | BBSA | Cboe BZX Exchange, Inc. | ||
JPMorgan Core Plus Bond ETF | JCPB | Cboe BZX Exchange, Inc. | ||
JPMorgan Corporate Bond Research Enhanced ETF | JIGB | NYSE Arca | ||
JPMorgan High Yield Research Enhanced ETF | JPHY | Cboe BZX Exchange, Inc. | ||
JPMorgan Income ETF | JPIE | NYSE Arca | ||
JPMorgan International Bond Opportunities ETF | JPIB | Cboe BZX Exchange, Inc. | ||
JPMorgan Municipal ETF | JMUB | Cboe BZX Exchange, Inc. | ||
JPMorgan Short Duration Core Plus ETF | JSCP | NYSE Arca | ||
JPMorgan U.S. Aggregate Bond ETF | JAGG | NYSE Arca | ||
JPMorgan Ultra-Short Income ETF | JPST | Cboe BZX Exchange, Inc. | ||
JPMorgan Ultra-Short Municipal Income ETF | JMST | Cboe BZX Exchange, Inc. | ||
JPMorgan USD Emerging Markets Sovereign Bond ETF | JPMB | NYSE Arca |
President’s Letter | 1 | |||
Market Overview | 2 | |||
Fund Commentaries: | ||||
3 | ||||
5 | ||||
7 | ||||
9 | ||||
12 | ||||
14 | ||||
17 | ||||
19 | ||||
21 | ||||
23 | ||||
25 | ||||
27 | ||||
Schedules of Portfolio Investments | 30 | |||
Financial Statements | 491 | |||
Financial Highlights | 506 | |||
Notes to Financial Statements | 508 | |||
Report of Independent Registered Public Accounting Firm | 541 | |||
Trustees | 542 | |||
Officers | 545 | |||
Schedule of Shareholder Expenses | 546 | |||
Board Approval of Initial Management Agreement | 547 | |||
Board Approval of Management Agreements | 549 | |||
Liquidity Risk Management Program | 553 | |||
Tax Letter | 554 | |||
Special Shareholder Meeting Results | 555 |
Investments in a Fund are not bank deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by the FDIC, the Federal Reserve Board or any other government agency. You could lose money if you sell when a Fund’s share price is lower than when you invested.
Past performance is no guarantee of future performance. The general market views expressed in this report are opinions based on market and other conditions through the end of the reporting period and are subject to change without notice. These views are not intended to predict the future performance of a Fund or the securities markets.
Prospective investors should refer to the Funds’ prospectuses for a discussion of the Funds’ investment objectives, strategies and risks. Call J.P. Morgan Exchange-Traded Funds at (844) 457-6383 for a prospectus containing more complete information about a Fund, including management fees and other expenses. Please read it carefully before investing.
Shares are bought and sold throughout the day on an exchange at market price (not at net asset value) through a brokerage account, and are not individually subscribed and redeemed from a Fund. Shares may only be subscribed and redeemed directly from a Fund by Authorized Participants, in large creation/redemption units. Brokerage commissions will reduce returns.
April 12, 2022 (Unaudited)
Dear Shareholder,
While global financial markets largely generated positive returns during the first half of 2021, accelerating inflation, periodic resurgences in the pandemic and the military conflict in Ukraine weighed on financial markets and led to mixed returns for the twelve-month fiscal period ended February 28, 2022. Overall, equities markets outperformed fixed-income markets and U.S. equities outperformed other developed markets and emerging markets equities during the period.
“The trajectory of the pandemic, the timing and magnitude of Fed interest rate activity and the duration and scope of the conflict in Ukraine are likely to remain the fundamental drivers of the global economy and financial market performance in the year ahead.” —Brian S. Shlissel |
The U.S. Federal Reserve (the “Fed”) continued to hold interest rates at historically low levels throughout the period. However, in the face of rising inflation and better-than-expected job growth, the Fed began to adopt a less accommodative tone in the second half of the period, and in November 2021, the central bank began to taper off monthly asset purchases under its quantitative easing program. While the emergence of the Omicron variant of COVID-19 toward the end of 2021 led to the reimposition of social restrictions — particularly in the U.K. and Europe — and disrupted return-to-office plans in the U.S., economic data indicated that consumer spending and job growth remained strong through the end of 2021 and into 2022.
In the year ahead, economists generally expect the U.S. economy to continue to expand, driven by surging household wealth and hope of progress in managing the pandemic. However, inflationary pressures from rising demand and tight labor markets led the Fed in to raise interest rates in March 2022 —the first rate increase since December 2018. The central bank also signaled its intent to raise rates six more times this year. The conflict in Ukraine and the multilateral sanctions imposed on Russia have helped raise prices for petroleum, natural gas and a range of other commodities. The trajectory of the pandemic, the timing and magnitude of Fed interest rate activity and the duration and scope of the conflict in Ukraine are likely to remain the fundamental drivers of the global economy and financial market performance in the year ahead.
Regardless of the economic environment, our diversified platform of innovative investment solutions is designed to equip investors with the tools to build durable portfolios that can serve to meet their financial goals.
Sincerely,
Brian S. Shlissel
President — J.P. Morgan Funds
J.P Morgan Asset Management
1-844-4JPM-ETF or jpmorgan.com/etfs for more information
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 1 |
J.P. Morgan Exchange-Traded Funds
TWELVE MONTHS ENDED FEBRUARY 28, 2022 (Unaudited)
Bond markets underperformed equity markets throughout the period amid low interest rates and accelerating inflationary pressure as the global economy rebounded from 2020. While leading central banks in developed markets largely maintained monetary stimulus programs and historically low interest rates, soaring inflation led select emerging market nations to raise interest rates. Simultaneously, a year-long rally in global equity markets largely drew investors away from low-yielding fixed income assets.
In the first half of the period, high yield bonds (also called “junk bonds”) and emerging markets debt outperformed investment grade corporate bonds as well as U.S. Treasury bonds and other developed market sovereign debt. However, equity markets largely outperformed all bond markets by a wide margin during the first half of the period.
As the global economic rebound accelerated during 2021, pent up demand and the effects of the pandemic led to bottlenecks in global supply chains and fueled rising inflationary pressure. While the U.S. Federal Reserve stated that rising inflation was likely a temporary consequence of the global economic rebound, it said at its July meeting that it could begin tapering off its $120 billion combined monthly asset purchasing programs by the end of 2021. As inflation and job growth surged in the second half of the year the Fed began to reduce monthly asset purchases and signaled in November that it was prepared to raise rates in the months ahead.
The Bank of England responded to rising domestic inflation by outlining its plan to eventually withdraw policy support for the economy and ended up raising policy interest rates twice by the end of February 2022. Amid a relatively sluggish economic rebound in the European Union, the European Central Bank held interest rates at record lows for the period.
Meanwhile, select emerging market nations raised interest rates in response to rising commodities prices and a strengthening U.S. dollar. Investors responded by selling emerging markets debt. Further weighing on emerging markets were China’s ongoing struggle to contain outbreaks of the COVID-19, slower-than-expected economic growth and investor concerns about its domestic real estate sector. Notably, rising global energy prices provided some support for bonds prices in petroleum exporting nations.
The final two months of the period were marked by a further building in inflationary pressure and Russia’s military buildup and subsequent invasion of Ukraine at the end of February 2022. The invasion — and swift imposition of financial and trade sanctions on Russia — led to a spike in global prices for petroleum, natural gas and a range of other commodities. Financial market volatility rose sharply amid investor uncertainty about the duration and scope of fighting in Ukraine.
For the twelve month period ended February 28, 2022, the Bloomberg U.S. Aggregate Index returned -2.64%, the Bloomberg U.S. High Yield Index returned 0.64% and the Bloomberg Multiverse Index returned -5.24%.
2 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF
FUND COMMENTARY
TWELVE MONTHS ENDED FEBRUARY 28, 2022 (Unaudited)
REPORTING PERIOD RETURN: | ||||
Net Asset Value* | (2.29)% | |||
Market Price** | (2.44)% | |||
Bloomberg Short-Term U.S. Aggregate Bond Index (formerly known as Bloomberg Barclays Short-Term U.S. Aggregate Bond Index) | (2.22)% | |||
Net Assets as of 2/28/2022 | $ | 34,892,895 | ||
Duration as of 2/28/2022 | 2.8 Years | |||
Fund Ticker | BBSA |
INVESTMENT OBJECTIVE***
The JPMorgan BetaBuilders 1-5 Year US Aggregate Bond ETF (the “Fund”) seeks investment results that closely correspond, before fees and expenses, to the performance of the Bloomberg Short-Term U.S. Aggregate Bond Index (the “Underlying Index”).
INVESTMENT APPROACH
The Underlying Index, which includes bonds with remaining effective maturities between one and five years, is a subset of the Bloomberg U.S. Aggregate Index which consists of U.S. dollar denominated investment grade taxable bonds. Using a “passive” investment approach, the Fund attempts to closely correspond to the performance of the Underlying Index as closely as possible and invests at least 80% of its assets in securities included in the Underlying Index.
HOW DID THE FUND PERFORM?
For the twelve months ended February 28, 2022, the Fund performed in line with the Underlying Index, before considering the effects of operating expenses, fees and tax management of the Fund’s portfolio.
The Fund’s and the Underlying Index’s allocations investment grade bonds detracted from performance amid rising interest rates in the second half of the period. The Fund’s and the Underlying Index’s exposures to corporate bonds, which outperformed other investment grade sectors, helped performance.
HOW WAS THE FUND POSITIONED?
At the end of the reporting period, the Fund’s and the Underlying Index’s largest allocations were to the U.S. Treasury and corporate bond sectors and the smallest allocations were to the securitized debt and government-related bond sectors.
PORTFOLIO COMPOSITION AS OF FEBRUARY 28, 2022 |
PERCENT
OF TOTAL INVESTMENTS |
|||
U.S. Treasury Obligations | 56.1 | % | ||
Corporate Bonds | 24.5 | |||
Mortgage-Backed Securities | 8.6 | |||
Supranational | 2.9 | |||
Commercial Mortgage-Backed Securities | 2.4 | |||
Foreign Government Securities | 1.5 | |||
U.S. Government Agency Securities | 1.5 | |||
Others (each less than 1.0%) | 0.8 | |||
Short-Term Investments | 1.7 |
* | The return shown is based on net asset value and may differ from the return shown in the financial highlights, which reflects adjustments made to the net asset value in accordance with accounting principles generally accepted in the United States of America. The net asset value was $49.85 as of February 28, 2022. |
** | Market price return was calculated assuming an initial investment made at the market price at the beginning of the reporting period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. The price used to calculate the market price return was the closing price on the Cboe BZX Exchange, Inc. As of February 28, 2022, the closing price was $49.87. |
*** | The adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved. |
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 3 |
JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF
FUND COMMENTARY
TWELVE MONTHS ENDED FEBRUARY 28, 2022 (Unaudited) (continued)
AVERAGE ANNUAL TOTAL RETURNS AS OF FEBRUARY 28, 2022 (Unaudited) |
||||||||||||
INCEPTION DATE | 1 YEAR | SINCE INCEPTION |
||||||||||
JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF |
||||||||||||
Net Asset Value |
March 12, 2019 | (2.29)% | 1.94% | |||||||||
Market Price |
(2.44)% | 1.95% |
LIFE OF FUND PERFORMANCE (3/12/19 TO 2/28/22)
The performance quoted is past performance and is not a guarantee of future results. Exchange-traded funds are subject to certain market risks. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data shown. For up-to-date, month-end performance information please call 1-844-457-6383.
Fund commenced operations on March 12, 2019.
The graph illustrates comparative performance for $10,000 invested in shares of the JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF and the Bloomberg Short-Term U.S. Aggregate Bond Index from March 12, 2019 to February 28, 2022. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the Bloomberg Short-Term U.S. Aggregate Bond Index does not reflect the deduction of expenses associated
with an exchange-traded fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable. The Bloomberg Short-Term U.S. Aggregate Bond Index is an unmanaged index that represents securities that are taxable and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. Investors cannot invest directly in an index.
Fund performance shown in this section does not reflect the deduction of taxes that a shareholder may pay on Fund distributions or on gains resulting from redemption or sale of Fund shares.
The returns shown are based on net asset values calculated for shareholder transactions and may differ from the returns shown in the financial highlights, which reflect adjustments made to the net asset values in accordance with accounting principles generally accepted in the United States of America.
4 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
FUND COMMENTARY
TWELVE MONTHS ENDED FEBRUARY 28, 2022 (Unaudited)
REPORTING PERIOD RETURN: | ||||
Net Asset Value* | (1.66)% | |||
Market Price** | (1.73)% | |||
Bloomberg U.S. Aggregate Index (formerly known as Bloomberg Barclays U.S. Aggregate Index) | (2.64)% | |||
Net Assets as of 2/28/2022 | $ | 276,853,932 | ||
Duration as of 2/28/2022 | 6.2 Years | |||
Fund Ticker | JCPB |
INVESTMENT OBJECTIVE***
The JPMorgan Core Plus Bond ETF (the “Fund”) seeks a high level of current income by investing primarily in a diversified portfolio of high, medium and low-grade debt securities.
INVESTMENT APPROACH
The Fund invests primarily in investment grade bonds, with the flexibility to invest up to 30% in below investment grade bonds (i.e., high yield or junk bonds). Up to 25% of the Fund’s assets may be invested in foreign securities. The adviser allocates the Fund’s assets among a range of sectors based on strategic positioning and other tactical considerations. In buying and selling investments for the Fund, the adviser looks for market sectors and securities that it believes will perform well over time. The adviser selects individual securities after performing a risk/reward analysis that includes an evaluation of interest rate risk, credit risk, currency risk, legal provisions and the structure of the transactions.
HOW DID THE FUND PERFORM?
For the twelve months ended February 28, 2022, the Fund outperformed the Bloomberg U.S. Aggregate Index (the “Index”).
Relative to the Index, the Fund’s overweight allocations to high yield corporate credit and securitized credit, including asset-backed securities, commercial mortgage-backed securities and non-agency residential mortgage-backed securities, were leading contributors to performance amid robust U.S. economic growth and supportive monetary policies across the globe.
The Fund’s longer duration and yield curve positioning was the leading detractor from relative performance, as the Fund was generally positioned to benefit from yield steepening while the yield curve flattened over the period. Duration measures the price sensitivity of a bond or a portfolio of bonds to relative changes in interest rates. Generally, bonds with longer duration will experience a larger increase or decrease in price as interest rates fall or rise, respectively, versus bonds with shorter duration. The yield curve shows the relationship between yields and maturity dates for a set of similar bonds at a given point in time.
HOW WAS THE FUND POSITIONED?
The Fund’s portfolio managers focused on security selection and relative value, which seeks to take advantage of pricing discrepancies between individual securities or market sectors. They employed macro-economic analysis to determine asset allocations and positioning on the yield curve. The portfolio managers used bottom-up research and top-down macro perspective to construct a diversified portfolio of fixed income securities. As a result of this process, the Fund’s largest sector allocations at the end of the reporting period were to corporate bonds and securitized debt, which includes agency and non-agency residential mortgage-backed securities, asset-backed securities and commercial mortgage-backed securities. The Fund’s smallest allocations were to emerging markets debt and U.S. government obligations, including Treasury bonds and agency debentures.
PORTFOLIO COMPOSITION AS OF FEBRUARY 28, 2022 |
PERCENT
OF TOTAL INVESTMENTS |
|||
Corporate Bonds | 32.1 | % | ||
Asset-Backed Securities | 17.1 | |||
Mortgage-Backed Securities | 14.8 | |||
U.S. Treasury Obligations | 13.5 | |||
Commercial Mortgage-Backed Securities | 6.8 | |||
Collateralized Mortgage Obligations | 2.9 | |||
Others (each less than 1.0%) | 0.0 | (a) | ||
Short-Term Investments | 12.8 |
* | The return shown is based on net asset value and may differ from the return shown in the financial highlights, which reflects adjustments made to the net asset value in accordance with accounting principles generally accepted in the United States of America. The net asset value was $52.23 as of February 28, 2022. |
** | Market price return was calculated assuming an initial investment made at the market price at the beginning of the reporting period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. The price used to calculate the market price return was the closing price on the Cboe BZX Exchange, Inc. As of February 28, 2022, the closing price was $52.37. |
*** | The adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved. |
(a) | Amount rounds to less than 0.1%. |
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 5 |
JPMorgan Core Plus Bond ETF
FUND COMMENTARY
TWELVE MONTHS ENDED FEBRUARY 28, 2022 (Unaudited) (continued)
AVERAGE ANNUAL TOTAL RETURNS AS OF FEBRUARY 28, 2022 (Unaudited) |
||||||||||||
INCEPTION DATE | 1 YEAR | SINCE INCEPTION |
||||||||||
JPMorgan Core Plus Bond ETF |
||||||||||||
Net Asset Value |
January 28, 2019 | (1.66)% | 4.29 | % | ||||||||
Market Price |
(1.73)% | 4.37 | % |
LIFE OF FUND PERFORMANCE (1/28/19 TO 2/28/22)
The performance quoted is past performance and is not a guarantee of future results. Exchange-traded funds are subject to certain market risks. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data shown. For up-to-date, month-end performance information please call 1-844-457-6383.
Fund commenced operations on January 28, 2019.
The graph illustrates comparative performance for $10,000 invested in shares of the JPMorgan Core Plus Bond ETF and the Bloomberg U.S. Aggregate Index from January 28, 2019 to February 28, 2022. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the Bloomberg U.S. Aggregate Index does not reflect the deduction of expenses associated with an exchange-traded fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable. The Bloomberg U.S. Aggregate Index is an unmanaged
index that represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. Investors cannot invest directly in an index.
Fund performance reflects waiver of a portion of the Fund’s fees and reimbursement of expenses for certain periods from the Fund’s inception date and prior to implementation of a unitary fee structure on November 19, 2019. Without these waivers and reimbursements, performance would have been lower. Also, performance shown in this section does not reflect the deduction of taxes that a shareholder may pay on Fund distributions or on gains resulting from redemption or sale of Fund shares.
The returns shown are based on net asset values calculated for shareholder transactions and may differ from the returns shown in the financial highlights, which reflect adjustments made to the net asset values in accordance with accounting principles generally accepted in the United States of America.
6 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
JPMorgan Corporate Bond Research Enhanced ETF
FUND COMMENTARY
TWELVE MONTHS ENDED FEBRUARY 28, 2022 (Unaudited)
REPORTING PERIOD RETURN: | ||||
Net Asset Value* | (3.67)% | |||
Market Price** | (3.83)% | |||
Bloomberg U.S. Corporate Index (formerly known as Bloomberg Barclays U.S. Corporate Bond Index) | (3.40)% | |||
Net Assets as of 2/28/2022 | $ | 51,478,693 | ||
Duration as of 2/28/2022 | 8.3 Years | |||
Ticker | JIGB |
INVESTMENT OBJECTIVE***
The JPMorgan Corporate Bond Research Enhanced ETF (the “Fund”) seeks to provide total return.
INVESTMENT APPROACH
The Fund invests primarily in investment grade bonds and uses fundamental credit research for security selection and sector allocation. The Fund seeks to outperform the Bloomberg U.S. Corporate Index (the “Index”) while maintaining similar risk characteristics.
HOW DID THE FUND PERFORM?
For the twelve months ended February 28, 2022, the Fund underperformed the Index.
Relative to the Index, the Fund’s overweight position in the technology and utilities sectors were leading detractors from performance. The Fund’s security selection in the capital goods sector and its underweight position in the financials sectors were leading contributors to relative performance.
HOW WAS THE FUND POSITIONED?
During the reporting period, the Fund’s portfolio managers sought to invest in companies that they believed were attractive from a fundamental and relative value analysis, while seeking to underweight companies that were unattractive based on
their analysis. From a sector perspective, the Fund remained largely in line with the sector weightings in the Index, with its largest underweight allocation to the other industrial sector and its largest overweight allocations to the consumer non-cyclical and technology sectors.
PORTFOLIO COMPOSITION AS OF FEBRUARY 28, 2022 |
PERCENT
OF TOTAL INVESTMENTS |
|||
Corporate Bonds | 99.7 | % | ||
Short-Term Investments | 0.3 |
* | The return shown is based on net asset value and may differ from the return shown in the financial highlights, which reflects adjustments made to the net asset value in accordance with accounting principles generally accepted in the United States of America. The net asset value was $51.48 as of February 28, 2022. |
** | Market price return was calculated assuming an initial investment made at the market price at the beginning of the reporting period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. The price used to calculate the market price return was the closing price on the NYSE Arca, Inc. As of February 28, 2022, the closing price was $51.56. |
*** | The adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved. |
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 7 |
JPMorgan Corporate Bond Research Enhanced ETF
FUND COMMENTARY
TWELVE MONTHS ENDED FEBRUARY 28, 2022 (Unaudited) (continued)
AVERAGE ANNUAL TOTAL RETURNS AS OF FEBRUARY 28, 2022 (Unaudited) |
||||||||||||
INCEPTION DATE | 1 YEAR | SINCE INCEPTION |
||||||||||
JPMorgan Corporate Bond Research Enhanced ETF |
||||||||||||
Net Asset Value |
December 12, 2018 | (3.67)% | 5.19 | % | ||||||||
Market Price |
(3.83)% | 5.23 | % |
LIFE OF FUND PERFORMANCE (12/12/18 TO 2/28/22)
The performance quoted is past performance and is not a guarantee of future results. Exchange-traded funds are subject to certain market risks. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data shown. For up-to-date, month-end performance information please call 1-844-457-6383.
Fund commenced operations on December 12, 2018.
The graph illustrates comparative performance for $10,000 invested in shares of the JPMorgan Corporate Bond Research Enhanced ETF and the Bloomberg U.S. Corporate Index from December 12, 2018 to February 28, 2022. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the Bloomberg U.S. Corporate Index does not reflect the deduction of expenses associated with an exchange-traded fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable. The Bloomberg U.S. Corporate
Index broadly measures the investment grade, fixed-rate, taxable, corporate bond market. It includes USD denominated securities publicly issued by U.S. and non-U.S. industrial, utility, and financial issuers that meet specified maturity, liquidity, and quality requirements. Securities in the index roll up to the U.S. Credit and U.S. Aggregate Indices.
Fund performance reflects waiver of a portion of the Fund’s fees and reimbursement of expenses for certain periods from the Fund’s inception date and prior to implementation of a unitary fee structure on November 19, 2019. Without these waivers and reimbursements, performance would have been lower. Also, performance shown in this section does not reflect the deduction of taxes that a shareholder may pay on Fund distributions or on gains resulting from redemption or sale of Fund shares.
The returns shown are based on net asset values calculated for shareholder transactions and may differ from the returns shown in the financial highlights, which reflect adjustments made to the net asset values in accordance with accounting principles generally accepted in the United States of America.
8 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
JPMorgan High Yield Research Enhanced ETF
FUND COMMENTARY
TWELVE MONTHS ENDED FEBRUARY 28, 2022 (Unaudited)
REPORTING PERIOD RETURN: | ||||
Net Asset Value* | 0.32% | |||
Market Price** | 0.40% | |||
Bloomberg US Corporate High Yield – 2% Issuer Capped Index (formerly known as Bloomberg Barclays U.S. Corporate High Yield — 2% Issuer Capped Index) | 0.64% | |||
Net Assets as of 2/28/2022 | $ | 1,453,558,764 | ||
Duration as of 2/28/2022 | 4.5 Years | |||
Fund Ticker | JPHY |
INVESTMENT OBJECTIVE***
The JPMorgan High Yield Research Enhanced ETF (the “Fund”) seeks to provide a high level of income. Capital appreciation is a secondary objective.
INVESTMENT APPROACH
The Fund invests in a diversified portfolio of high-yield, high-risk debt securities (also called “junk bonds”). Issuers may be domestic or foreign, but the Fund only invests in U.S. dollar-denominated investments.
HOW DID THE FUND PERFORM?
For the twelve months ended February 28, 2022, the Fund posted a positive absolute performance and underperformed the Bloomberg US Corporate High Yield – 2% Issuer Capped Index (the “Benchmark”).
Relative to the Benchmark, the Fund’s underweight allocation to the independent energy sector and its security selection in
the metals & mining and pharmaceuticals sectors were leading detractors from relative performance. The Fund’s underweight allocations to bonds rated single-B and CCC also detracted from relative performance.
The Fund’s overweight allocation to BB-rated bonds was a leading contributor to relative performance during the period. The Fund’s security selection in the wireless, cable/satellite TV and media/entertainment sectors also contributed to relative performance.
HOW WAS THE FUND POSITIONED?
During the period, the Fund positioning was neutral to the Benchmark in terms of industry sectors and duration. Duration measures the price sensitivity of a portfolio of bonds relative to changes in interest rates. The Fund was underweight in securities rated single-B, CCC and lower, and was overweight in securities rated BB.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 9 |
JPMorgan High Yield Research Enhanced ETF
FUND COMMENTARY
TWELVE MONTHS ENDED FEBRUARY 28, 2022 (Unaudited) (continued)
PORTFOLIO COMPOSITION BY
INDUSTRY AS OF FEBRUARY 28, 2022 |
PERCENT OF TOTAL INVESTMENTS |
|||
Oil, Gas & Consumable Fuels | 12.0 | % | ||
Hotels, Restaurants & Leisure | 8.2 | |||
Media | 7.5 | |||
Health Care Providers & Services | 6.5 | |||
Diversified Telecommunication Services | 6.2 | |||
Consumer Finance | 4.8 | |||
Equity Real Estate Investment Trusts (REITs) | 3.6 | |||
Pharmaceuticals | 3.1 | |||
Commercial Services & Supplies | 3.0 | |||
Chemicals | 2.5 | |||
Aerospace & Defense | 2.5 | |||
Food Products | 2.3 | |||
Auto Components | 2.2 | |||
Electric Utilities | 2.1 | |||
Specialty Retail | 2.1 | |||
Metals & Mining | 2.1 | |||
Containers & Packaging | 1.9 | |||
Thrifts & Mortgage Finance | 1.8 | |||
Trading Companies & Distributors | 1.7 | |||
Capital Markets | 1.5 | |||
Software | 1.5 | |||
Airlines | 1.5 | |||
Entertainment | 1.5 | |||
Building Products | 1.3 | |||
Wireless Telecommunication Services | 1.1 | |||
Food & Staples Retailing | 1.0 | |||
Communications Equipment | 1.0 | |||
Others (each less than 1.0%) | 12.0 | |||
Short-Term Investments | 1.5 |
* | The return shown is based on net asset value and may differ from the return shown in the financial highlights, which reflects adjustments made to the net asset value in accordance with accounting principles generally accepted in the United States of America. The net asset value was $49.61 as of February 28, 2022. |
** | Market price return was calculated assuming an initial investment made at the market price at the beginning of the reporting period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. The price used to calculate the market price return was the closing price on the Cboe BZX Exchange, Inc. As of February 28, 2022, the closing price was $49.65. |
*** | The adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved. |
10 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
AVERAGE ANNUAL TOTAL RETURNS AS OF FEBRUARY 28, 2022 (Unaudited) |
||||||||||||||||
INCEPTION DATE | 1 YEAR | 5 YEAR | SINCE INCEPTION |
|||||||||||||
JPMorgan High Yield Research Enhanced ETF |
||||||||||||||||
Net Asset Value |
September 14, 2016 | 0.32 | % | 4.22 | % | 4.65 | % | |||||||||
Market Price |
0.40 | % | 4.14 | % | 4.65 | % |
LIFE OF FUND PERFORMANCE (9/14/16 TO 2/28/22)
The performance quoted is past performance and is not a guarantee of future results. Exchange-traded funds are subject to certain market risks. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data shown. For up-to-date, month-end performance information please call 1-844-457-6383.
Fund commenced operations on September 14, 2016.
The graph illustrates comparative performance for $10,000 invested in shares of the JPMorgan High Yield Research Enhanced ETF, the Bloomberg U.S. Corporate High Yield — 2% Issuer Capped Index from September 14, 2016 to February 28, 2022. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the Bloomberg U.S. Corporate High Yield — 2% Issuer Capped Index does not reflect the deduction of expenses associated with an exchange-traded fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities
included in the Index, if applicable. The Bloomberg U.S. Corporate High Yield — 2% Issuer Capped Index is an unmanaged index comprised of fixed rate, non-investment grade debt securities that are dollar denominated and non-convertible. The index limits the maximum exposure to any one issuer to 2%. Investors cannot invest directly in an index.
Fund performance reflects waiver of a portion of the Fund’s fees and reimbursement of expenses for certain periods from the Fund’s inception date and prior to implementation of a unitary fee structure on November 19, 2019. Without these waivers and reimbursements, performance would have been lower. Also, performance shown in this section does not reflect the deduction of taxes that a shareholder may pay on Fund distributions or on gains resulting from redemption or sale of Fund shares.
The returns shown are based on net asset values calculated for shareholder transactions and may differ from the returns shown in the financial highlights, which reflect adjustments made to the net asset values in accordance with accounting principles generally accepted in the United States of America.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 11 |
FUND COMMENTARY
FOR THE PERIOD OCTOBER 28, 2021 (INCEPTION DATE) THROUGH FEBRUARY 28, 2022 (Unaudited)
REPORTING PERIOD RETURN: | ||||
Net Asset Value* | (1.36)% | |||
Market Price** | (0.94)% | |||
Bloomberg U.S. Aggregate Index (formerly known as Bloomberg Barclays U.S. Aggregate Index) | (3.17)% | |||
Net Assets as of 2/28/2022 | $ | 137,861,001 | ||
Duration as of 2/28/2022 | 2.3 Years | |||
Fund Ticker | JPIE |
INVESTMENT OBJECTIVE***
The JPMorgan Income ETF (the “Fund”) seeks to provide income with a secondary objective of capital appreciation.
INVESTMENT APPROACH
The Fund Invests opportunistically in a wide variety of debt securities that have high potential to produce attractive risk-adjusted income and have low correlations to each other in order to manage risk. The Fund utilizes a flexible approach, allowing allocation shifts based on changing market conditions and seeks to deliver dividends every month.
HOW DID THE FUND PERFORM?
For the period from inception on October 28, 2021 to February 28, 2022, the Fund outperformed to the Bloomberg U.S. Aggregate Index (the “Index”).
Relative to the Index, the Fund’s shorter duration was a leading contributor to performance as interest rates rose during the period. Generally, bonds with shorter duration will experience a smaller decrease in price compared with longer duration bonds when interest rates rise. The Fund’s out-of-Index allocation to non-agency mortgage-backed securities also contributed to relative performance.
The Fund’s out-of-Index allocations to high yield debt (also known as “junk bonds”) and emerging market debt detracted from relative performance.
HOW WAS THE FUND POSITIONED?
During the period, the Fund invested opportunistically among multiple debt markets and sectors that the portfolio managers believed had a high potential to produce income. The Fund’s managers sought to manage risk through exposure to debt
markets that they believed to have low correlations to each other. During the period, the Fund’s managers increased its allocations to commercial mortgage-backed securities, agency mortgage-backed securities, asset backed securities and high yield bonds. The managers decreased the Fund’s exposure to emerging market debt and non-agency mortgage-backed securities. The Fund’s duration increased to 2.31 years at February 28, 2022 from 1.89 years at October 28, 2021.
PORTFOLIO COMPOSITION AS OF FEBRUARY 28, 2022 |
PERCENT
OF TOTAL INVESTMENTS |
|||
Corporate Bonds | 37.3 | % | ||
Asset-Backed Securities | 18.6 | |||
Commercial Mortgage-Backed Securities | 16.4 | |||
Collateralized Mortgage Obligations | 7.6 | |||
Foreign Government Securities | 3.3 | |||
Mortgage-Backed Securities | 2.6 | |||
Exchange-Traded Funds | 0.7 | |||
Short-Term Investments | 13.5 |
* | The return shown is based on net asset value and may differ from the return shown in the financial highlights, which reflects adjustments made to the net asset value in accordance with accounting principles generally accepted in the United States of America. The net asset value was $48.88 as of February 28, 2022. |
** | Market price return was calculated assuming an initial investment made at the market price at the inception date net asset value, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. The price used to calculate the market price return was the closing price on the NYSE Arca, Inc. As of February 28, 2022, the closing price was $49.09. |
*** | The adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved. |
12 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
TOTAL RETURNS AS OF FEBRUARY 28, 2022 (Unaudited) |
||||||||
INCEPTION DATE | CUMULATIVE SINCE INCEPTION |
|||||||
JPMorgan Income ETF |
||||||||
Net Asset Value |
October 28, 2021 | (1.36 | )% | |||||
Market Price |
(0.94 | )% |
LIFE OF FUND PERFORMANCE (10/28/21 TO 2/28/22)
The performance quoted is past performance and is not a guarantee of future results. Exchange-traded funds are subject to certain market risks. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data shown. For up-to-date, month-end performance information please call 1-844-457-6383.
Fund commenced operations on October 28, 2021.
The graph illustrates comparative performance for $10,000 invested in shares of the JPMorgan Income ETF and the Bloomberg U.S. Aggregate Index from October 28, 2021 to February 28, 2022. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the Bloomberg U.S. Aggregate Index does not reflect the deduction of expenses associated with an
exchange-traded fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable. The Bloomberg U.S. Aggregate Index is an unmanaged index that represents securities that are taxable and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. Investors cannot invest directly in an index.
Fund performance shown in this section does not reflect the deduction of taxes that a shareholder may pay on Fund distributions or on gains resulting from redemption or sale of Fund shares.
The returns shown are based on net asset values calculated for shareholder transactions and may differ from the returns shown in the financial highlights, which reflect adjustments made to the net asset values in accordance with accounting principles generally accepted in the United States of America.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 13 |
JPMorgan International Bond Opportunities ETF
FUND COMMENTARY
TWELVE MONTHS ENDED FEBRUARY 28, 2022 (Unaudited)
REPORTING PERIOD RETURN: | ||||
Net Asset Value* | (1.56)% | |||
Market Price** | (2.10)% | |||
Bloomberg Multiverse ex-USA (USD Hedged) Index (formerly known as Bloomberg Barclays Multiverse ex-USA (USD Hedged) Index) | (2.05)% | |||
Bloomberg Multiverse Index (formerly known as Bloomberg Barclays Multiverse Index) | (5.24)% | |||
Net Assets as of 2/28/2022 | $ | 323,118,565 | ||
Duration as of 2/28/2022 | 2.6 Years | |||
Fund Ticker | JPIB |
INVESTMENT OBJECTIVE***
The JPMorgan International Bond Opportunities ETF (the “Fund”) seeks to provide total return.
INVESTMENT APPROACH
The Fund invests across sectors in developed and emerging markets without benchmark constraints. The Fund is flexible and opportunistic and the Fund’s adviser has broad discretion to shift the Fund’s exposure to strategies, sectors, countries or currencies based on changing market conditions and its view of the best mix of investment opportunities.
HOW DID THE FUND PERFORM?
For the twelve months ended February 28, 2022, the Fund posted a negative return of -1.56%. The Fund is managed with an unconstrained orientation and is not managed relative to a benchmark index. While the Fund is not managed to a benchmark, its return is compared to the Bloomberg Multiverse ex-USA (USD Hedged) Index, which returned -2.05% for the period.
Relative to the Bloomberg Multiverse ex-USA (USD Hedged) Index, the Fund’s shorter overall duration was the leading contributor to performance as interest rates rose during the
period. Generally, bonds with shorter duration will experience smaller price decrease when interest rates rise, compared with bonds of longer duration.
In terms of absolute performance, the Fund’s allocation to government interest rates, obtained through investments in government bonds and interest rate futures, contributed to absolute performance. The Fund’s allocations to investment grade credit, corporate high yield debt (also known as “junk bonds”) and emerging markets debt detracted from absolute performance.
HOW WAS THE FUND POSITIONED?
During the period, the Fund’s portfolio managers increased the Fund’s net exposure to high yield corporate bonds to 30% from 23%. The portfolio managers trimmed the Fund’s net exposure to investment grade credit to 23% from 27% and also trimmed its exposure to securitized credit, while adding exposure across emerging market debt.
The portfolio managers reduced the Fund’s overall duration, mainly through increased short exposure to developed market interest rates. The portfolio managers reduced the Fund’s duration to 2.63 years as of February 28, 2022 from 3.44 years as of February 28, 2021.
14 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
PORTFOLIO COMPOSITION AS OF FEBRUARY 28, 2022 |
PERCENT OF TOTAL INVESTMENTS |
|||
Corporate Bonds | 56.9 | % | ||
Foreign Government Securities | 35.3 | |||
Commercial Mortgage-Backed Securities | 1.9 | |||
Asset-Backed Securities | 1.5 | |||
Others (each less than 1.0%) | 1.3 | |||
Short-Term Investments | 3.1 |
PORTFOLIO COMPOSITION BY
COUNTRY AS OF FEBRUARY 28, 2022 |
PERCENT OF TOTAL INVESTMENTS |
|||
United States | 11.4 | % | ||
France | 8.5 | |||
United Kingdom | 8.3 | |||
Canada | 8.0 | |||
Italy | 7.0 | |||
Germany | 7.0 | |||
China | 5.5 | |||
Spain | 5.3 | |||
Brazil | 5.0 | |||
Australia | 3.8 | |||
Mexico | 3.1 | |||
Netherlands | 2.7 | |||
Portugal | 2.1 | |||
Luxembourg | 2.0 | |||
Indonesia | 1.9 | |||
Switzerland | 1.8 | |||
South Africa | 1.6 | |||
Ireland | 1.1 | |||
Belgium | 1.1 | |||
Sweden | 1.0 | |||
Others (each less than 1.0%) | 8.7 | |||
Short-Term Investments | 3.1 |
* | The return shown is based on net asset value and may differ from the return shown in the financial highlights, which reflects adjustments made to the net asset value in accordance with accounting principles generally accepted in the United States of America. The net asset value was $48.96 as of February 28, 2022. |
** | Market price return was calculated assuming an initial investment made at the market price at the beginning of the reporting period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. The price used to calculate the market price return was the closing price on the Cboe BZX Exchange, Inc. As of February 28, 2022, the closing price was $48.98. |
*** | The adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved. |
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 15 |
JPMorgan International Bond Opportunities ETF
FUND COMMENTARY
TWELVE MONTHS ENDED FEBRUARY 28, 2022 (Unaudited) (continued)
AVERAGE ANNUAL TOTAL RETURNS AS OF FEBRUARY 28, 2022 (Unaudited) |
||||||||||||
INCEPTION DATE | 1 YEAR | SINCE INCEPTION |
||||||||||
JPMorgan International Bond Opportunities ETF |
||||||||||||
Net Asset Value |
April 5, 2017 | (1.56)% | 3.36 | % | ||||||||
Market Price |
(2.10)% | 3.37 | % |
LIFE OF FUND PERFORMANCE (4/5/17 TO 2/28/22)
The performance quoted is past performance and is not a guarantee of future results. Exchange-traded funds are subject to certain market risks. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data shown. For up-to-date, month-end performance information please call 1-844-457-6383.
Fund commenced operations on April 5, 2017.
The graph illustrates comparative performance for $10,000 invested in shares of the JPMorgan International Bond Opportunities ETF and the Bloomberg Multiverse ex-USA (USD Hedged) Index from April 5, 2017 to February 28, 2022. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the Bloomberg Multiverse ex-USA (USD Hedged) Index does not reflect the deduction of expenses associated with an exchange-traded fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the respective Index, if applicable.
The Bloomberg Multiverse Index ex-USA (USD Hedged) Index is a measure of the global fixed income bond market that combines the Barclays Global Aggregate Index, which measures investment-grade debt from 24 different local currency markets, and the Barclays Global High Yield Index, which measures the global high yield fixed income markets. It excludes U.S. securities and is hedged to the U.S. dollar. Investors cannot invest directly in an index.
Fund performance reflects waiver of a portion of the Fund’s fees and reimbursement of expenses for certain periods from the Fund’s inception date and prior to implementation of a unitary fee structure on November 19, 2019. Without these waivers and reimbursements, performance would have been lower. Also, performance shown in this section does not reflect the deduction of taxes that a shareholder may pay on Fund distributions or on gains resulting from redemption or sale of Fund shares.
The returns shown are based on net asset values calculated for shareholder transactions and may differ from the returns shown in the financial highlights, which reflect adjustments made to the net asset values in accordance with accounting principles generally accepted in the United States of America.
16 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
FUND COMMENTARY
TWELVE MONTHS ENDED FEBRUARY 28, 2022 (Unaudited)
REPORTING PERIOD RETURN: | ||||
Net Asset Value* | (0.63)% | |||
Market Price** | (0.55)% | |||
Bloomberg U.S. 1-15 Year Blend (1-17) Municipal Bond Index (formerly known as Bloomberg Barclays U.S. 1-15 Year Blend (1-17) Municipal Bond Index) | (1.12)% | |||
Net Assets as of 2/28/2022 | $ | 100,642,548 | ||
Duration as of 2/28/2022 | 5.1 Years | |||
Fund Ticker | JMUB |
INVESTMENT OBJECTIVE***
The JPMorgan Municipal ETF (the “Fund”) seeks to provide monthly dividends, which are excluded from gross income, and to protect the value of your investment by investing primarily in municipal obligations. For purposes of the Fund’s investment objective, “gross income” means gross income for federal income tax purposes.
INVESTMENT APPROACH
The Fund invests primarily in a portfolio of municipal securities, the income from which is exempt from federal income tax. The Fund seeks to maintain an average dollar weighted maturity between three and twelve years.
HOW DID THE FUND PERFORM?
For the twelve months ended February 28, 2022, the Fund outperformed the Bloomberg U.S. 1-15 Year Blend (1-17) Municipal Bond Index (the “Index”).
Relative to the Index, the Fund’s underweight allocations to bonds rated AA and higher, its overweight allocations to bonds rated single-A and its out-of-Index allocations to below-investment-grade bonds were leading contributors to performance. The Fund’s overweight allocation to the education, hospitals and retirement care sectors also contributed to relative performance.
The Fund’s underweight allocations in the transportation and state general obligation bonds sector, and its overweight allocation to industrial development revenue/pollution control revenue bonds were leading detractors from performance
relative to the Benchmark. The Fund’s longer duration relative to the Benchmark also detracted from relative performance as interest rates rose during the period. Generally, bonds with longer duration will experience a greater decrease in price compared with shorter duration bonds when interest rates rise.
HOW WAS THE FUND POSITIONED?
At the end of the period, the Fund was overweight in bonds rated single-A and BBB. The Fund’s duration was 5.1 years compared with 4.2 years for the Index.
PORTFOLIO COMPOSITION AS OF FEBRUARY 28, 2022 |
PERCENT
OF TOTAL INVESTMENTS |
|||
Municipal Bonds | 89.6 | % | ||
Short-Term Investments | 10.4 |
* | The return shown is based on net asset value and may differ from the return shown in the financial highlights, which reflects adjustments made to the net asset value in accordance with accounting principles generally accepted in the United States of America. The net asset value was $52.97 as of February 28, 2022. |
** | Market price return was calculated assuming an initial investment made at the market price at the beginning of the reporting period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. The price used to calculate the market price return was the closing price on the Cboe BZX Exchange, Inc. As of February 28, 2022, the closing price was $53.01. |
*** | The adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved. |
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 17 |
JPMorgan Municipal ETF
FUND COMMENTARY
TWELVE MONTHS ENDED FEBRUARY 28, 2022 (Unaudited) (continued)
AVERAGE ANNUAL TOTAL RETURNS AS OF FEBRUARY 28, 2022 (Unaudited) |
||||||||||||
INCEPTION DATE | 1 YEAR | SINCE INCEPTION |
||||||||||
JPMorgan Municipal ETF |
||||||||||||
Net Asset Value |
October 29, 2018 | (0.63)% | 4.33 | % | ||||||||
Market Price |
(0.55)% | 4.35 | % |
LIFE OF FUND PERFORMANCE (10/29/18 TO 2/28/22)
The performance quoted is past performance and is not a guarantee of future results. Exchange-traded funds are subject to certain market risks. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data shown. For up-to-date, month-end performance information please call 1-844-457-6383.
Fund commenced operations on October 29, 2018.
The graph illustrates comparative performance for $10,000 invested in shares of the JPMorgan Municipal ETF and the Bloomberg U.S. 1-15 Year Blend (1-17) Municipal Bond Index from October 29, 2018 to February 28, 2022. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the Bloomberg U.S. 1-15 Year Blend (1-17) Municipal Bond Index does not reflect the deduction of expenses associated with an exchange-traded
fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable. The Bloomberg U.S. 1-15 Year Blend (1-17) Municipal Bond Index represents the performance of municipal bonds with maturities from 1 to 17 years.
Fund performance reflects waiver of a portion of the Fund’s fees and reimbursement of expenses for certain periods from the Fund’s inception date and prior to implementation of a unitary fee structure on November 19, 2019. Without these waivers and reimbursements, performance would have been lower. Also, performance shown in this section does not reflect the deduction of taxes that a shareholder may pay on Fund distributions or on gains resulting from redemption or sale of Fund shares.
The returns shown are based on net asset values calculated for shareholder transactions and may differ from the returns shown in the financial highlights, which reflect adjustments made to the net asset values in accordance with accounting principles generally accepted in the United States of America.
18 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
JPMorgan Short Duration Core Plus ETF
FUND COMMENTARY
TWELVE MONTHS ENDED FEBRUARY 28, 2022 (Unaudited)
REPORTING PERIOD RETURN: | ||||
Net Asset Value* | (1.63)% | |||
Market Price** | (1.61)% | |||
Bloomberg 1-5 Year Government/Credit Index | (2.20)% | |||
Net Assets as of 2/28/2022 | $ | 192,461,679 | ||
Duration as of 2/28/2022 | 2.3 Years | |||
Fund Ticker | JSCP |
INVESTMENT OBJECTIVE***
The JPMorgan Short Duration Core Plus Bond ETF (the “Fund”) seeks total return, consistent with preservation of capital.
INVESTMENT APPROACH
The Fund invests primarily in investment grade bonds, with the flexibility to invest up to 30% of its net assets in below investment grade securities (also known as high yield debt or “junk bonds”) and up to 25% of its net assets in foreign securities. The Fund’s adviser seeks to maintain a duration of three years or less. Duration is a measure of the price sensitivity of a debt security or a portfolio of debt securities relative to changes in interest rates. The adviser uses both a top down and bottom up research process as well as a combination of fundamental and quantitative inputs to allocate the Fund’s assets among a range of sectors. In buying and selling investments for the Fund, the adviser looks for market sectors and individual securities that it believes will perform well over time. The adviser selects individual securities after performing a risk/reward analysis to address the Fund’s dual objective of seeking total return and preservation of capital. Such analysis includes an evaluation of interest rate risk, credit risk, duration, liquidity, currency risk, legal provisions and the structure of the transaction.
HOW DID THE FUND PERFORM?
For the period from inception on March 1, 2021 to February 28, 2022, the Fund outperformed the Bloomberg 1-5 Year Government/Credit Index (the “Index”).
Relative to the Index, the Fund’s out-of-Index allocations to high yield bonds and its shorter duration were the leading contributors to performance. Generally, bonds with shorter duration will experience a smaller decrease in price compared with longer duration bonds when interest rates rise.
The Fund’s out-of-Index allocations to emerging market debt and agency mortgage-backed securities were leading detractors to performance.
HOW WAS THE FUND POSITIONED?
The Fund’s adviser focused on security selection and relative value, which seeks to take advantage of pricing discrepancies
between individual securities or market sectors. The adviser used bottom-up research to construct, in their view, a portfolio of undervalued fixed income securities. The managers employ a macro-economic analysis to determine asset allocation and positioning on the yield curve. The yield curve shows the relationship between yields and maturity dates for a set of similar bonds at a given point in time.
Relative to the Index, the Fund had underweight positions in U.S. Treasury bonds and investment grade corporates, and out-of-Index allocations to mortgage-backed securities, asset-backed securities, high yield bonds, and emerging market debt.
PORTFOLIO COMPOSITION AS OF FEBRUARY 28, 2022 |
PERCENT OF TOTAL INVESTMENTS |
|||
Corporate Bonds | 34.9 | % | ||
U.S. Treasury Obligations | 19.9 | |||
Asset-Backed Securities | 15.4 | |||
Mortgage-Backed Securities | 8.9 | |||
Commercial Mortgage-Backed Securities | 5.7 | |||
Collateralized Mortgage Obligations | 2.6 | |||
Foreign Government Securities | 1.0 | |||
Municipal Bonds | 0.0 | (a) | ||
Short-Term Investments | 11.6 |
* | The return shown is based on net asset value and may differ from the return shown in the financial highlights, which reflects adjustments made to the net asset value in accordance with accounting principles generally accepted in the United States of America. The net asset value was $48.60 as of February 28, 2022. |
** | Market price return was calculated assuming an initial investment made at the market price at the beginning of the reporting period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. The price used to calculate the market price return was the closing price on the NYSE Arca, Inc. As of February 28, 2022, the closing price was $48.61. |
*** | The adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved. |
(a) | Amount rounds to less than 0.1%. |
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 19 |
JPMorgan Short Duration Core Plus ETF
FUND COMMENTARY
TWELVE MONTHS ENDED FEBRUARY 28, 2022 (Unaudited) (continued)
TOTAL RETURNS AS OF FEBRUARY 28, 2022 (Unaudited) |
||||||||
INCEPTION DATE | 1 YEAR | |||||||
JPMorgan Short Duration Core Plus ETF |
||||||||
Net Asset Value | March 1, 2021 | (1.63)% | ||||||
Market Price | (1.61)% |
LIFE OF FUND PERFORMANCE (3/1/21 TO 2/28/22)
The performance quoted is past performance and is not a guarantee of future results. Exchange-traded funds are subject to certain market risks. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data shown. For up-to-date, month-end performance information please call 1-844-457-6383.
Fund commenced operations on March 1, 2021.
The graph illustrates comparative performance for $10,000 invested in shares of the JPMorgan Short Duration Core Plus ETF and the Bloomberg 1-5 Year Government/Credit Index from March 1, 2021 to February 28, 2022. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the Bloomberg 1-5 Year Government/Credit Index does not reflect the deduction of expenses associated with an exchange-traded fund and
has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable. The Bloomberg 1-5 Year Government/Credit Index includes the Government and Credit portions of the Barclays Aggregate for securities of 1-5 year maturities. The Government portion includes treasuries and agencies. The Credit portion includes publicly issued U.S. corporate and foreign debentures and secured notes that meet specified maturity, liquidity, and quality requirements. Investors cannot invest directly in an index.
Fund performance shown in this section does not reflect the deduction of taxes that a shareholder may pay on Fund distributions or on gains resulting from redemption or sale of Fund shares.
The returns shown are based on net asset values calculated for shareholder transactions and may differ from the returns shown in the financial highlights, which reflect adjustments made to the net asset values in accordance with accounting principles generally accepted in the United States of America.
20 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
JPMorgan U.S. Aggregate Bond ETF
FUND COMMENTARY
TWELVE MONTHS ENDED FEBRUARY 28, 2022 (Unaudited)
REPORTING PERIOD RETURN: | ||||
Net Asset Value* | (2.74)% | |||
Market Price** | (2.69)% | |||
Bloomberg U.S. Aggregate Index (formerly known as Bloomberg Barclays U.S. Aggregate Index) | (2.64)% | |||
Net Assets as of 2/28/2022 | $ | 1,024,267,076 | ||
Duration as of 2/28/2022 | 6.5 Years | |||
Fund Ticker | JAGG |
INVESTMENT OBJECTIVE***
The JPMorgan U.S. Aggregate Bond ETF (the “Fund”) seeks to provide long-term total return.
INVESTMENT APPROACH
The Fund invests in a diversified portfolio of fixed income securities, including corporate bonds, U.S. Treasury obligations and other U.S. government and agency securities, and asset-backed, mortgage-related and mortgage-backed securities. With respect to corporate sub-sectors, the adviser applies a systematic multi-factor screening process that seeks exposure to those debt issuers with attractive value, quality and momentum characteristics.
HOW DID THE FUND PERFORM?
For the twelve months ended February 28, 2022, the Fund underperformed the Bloomberg U.S. Aggregate Index (the “Index”).
Relative to the Index, the Fund’s allocation to the quality factor within corporate bonds was a leading detractor from performance, while the Fund’s value and momentum factors within corporate bonds contributed to performance.
HOW WAS THE FUND POSITIONED?
During the period, the Fund applied a systematic multi-factor screening process to the corporate sub-sectors of the Index that sought exposure to corporate debt issuers that the Fund’s portfolio managers believed had attractive value, quality and momentum characteristics. Among the Fund’s largest
allocations at the end of the period were government bonds, corporate credit and mortgage-backed securities while its smallest allocations were to agency debt and supranational debt.
PORTFOLIO COMPOSITION AS OF FEBRUARY 28, 2022 |
PERCENT
OF TOTAL INVESTMENTS |
|||
U.S. Treasury Obligations | 38.7 | % | ||
Mortgage-Backed Securities | 27.2 | |||
Corporate Bonds | 24.6 | |||
Commercial Mortgage-Backed Securities | 1.9 | |||
Foreign Government Securities | 1.6 | |||
U.S. Government Agency Securities | 1.4 | |||
Supranational | 1.4 | |||
Others (each less than 1.0%) | 0.9 | |||
Short-Term Investments | 2.3 |
* | The return shown is based on net asset value and may differ from the return shown in the financial highlights, which reflects adjustments made to the net asset value in accordance with accounting principles generally accepted in the United States of America. The net asset value was $52.13 as of February 28, 2022. |
** | Market price return was calculated assuming an initial investment made at the market price at the beginning of the reporting period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. The price used to calculate the market price return was the closing price on the NYSE Arca, Inc. As of February 28, 2022, the closing price was $52.14. |
*** | The adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved. |
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 21 |
JPMorgan U.S. Aggregate Bond ETF
FUND COMMENTARY
TWELVE MONTHS ENDED FEBRUARY 28, 2022 (Unaudited) (continued)
AVERAGE ANNUAL TOTAL RETURNS AS OF FEBRUARY 28, 2022 (Unaudited) |
||||||||||||
INCEPTION DATE | 1 YEAR | SINCE INCEPTION |
||||||||||
JPMorgan U.S. Aggregate Bond ETF |
||||||||||||
Net Asset Value |
December 12, 2018 | (2.74)% | 3.47% | |||||||||
Market Price |
(2.69)% | 3.47% |
LIFE OF FUND PERFORMANCE (12/12/18 TO 2/28/22)
The performance quoted is past performance and is not a guarantee of future results. Exchange-traded funds are subject to certain market risks. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data shown. For up-to-date, month-end performance information please call 1-844-457-6383.
Fund commenced operations on December 12, 2018.
The graph illustrates comparative performance for $10,000 invested in shares of the JPMorgan U.S. Aggregate Bond ETF and the Bloomberg U.S. Aggregate Index from December 12, 2018 to February 28, 2022. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the Bloomberg U.S. Aggregate Index does not reflect the deduction of expenses associated with an exchange-traded fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable.
The Bloomberg U.S. Aggregate Index is an unmanaged index that represents securities that are taxable and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. Investors cannot invest directly in an index.
Fund performance reflects waiver of a portion of the Fund’s fees and reimbursement of expenses for certain periods from the Fund’s inception date and prior to implementation of a unitary fee structure on November 19, 2019. Without these waivers and reimbursements, performance would have been lower. Also, performance shown in this section does not reflect the deduction of taxes that a shareholder may pay on Fund distributions or on gains resulting from redemption or sale of Fund shares.
The returns shown are based on net asset values calculated for shareholder transactions and may differ from the returns shown in the financial highlights, which reflect adjustments made to the net asset values in accordance with accounting principles generally accepted in the United States of America.
22 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
JPMorgan Ultra-Short Income ETF
FUND COMMENTARY
TWELVE MONTHS ENDED FEBRUARY 28, 2022 (Unaudited)
REPORTING PERIOD RETURN: | ||||
Net Asset Value* | (0.12)% | |||
Market Price** | (0.12)% | |||
ICE BofAML 3-Month US Treasury Bill Index | 0.04% | |||
Net Assets as of 2/28/2022 | $ | 18,686,174,480 | ||
Duration as of 2/28/2022 | 0.3 Years | |||
Fund Ticker | JPST |
INVESTMENT OBJECTIVE***
The JPMorgan Ultra-Short Income ETF (the “Fund”) seeks to provide current income while seeking to maintain a low volatility of principal.
INVESTMENT APPROACH
The Fund primarily invests in investment grade, U.S. dollar-denominated short-term fixed, variable and floating-rate debt. The Fund seeks to maintain a duration of one year or less, although under certain market conditions, the Fund’s duration may be longer than one year. Duration measures the price sensitivity of a portfolio of bonds to relative changes in interest rates. Generally, bonds with longer duration will experience a larger decrease or increase in price as interest rates rise or fall, respectively, versus bonds with shorter duration. The Fund’s adviser has broad discretion to shift the Fund’s exposure to strategies and sectors based on changing market conditions and its view of the best mix of investment opportunities.
HOW DID THE FUND PERFORM?
For the twelve months ended February 28, 2022, the Fund underperformed the ICE BofAML 3-Month US Treasury Bill Index (the “Index”).
Relative to the Index, The Fund’s longer duration and its out-of-Index allocation to investment grade corporate bonds were the largest detractors to performance over the period, as interest rates rose and corporate credit generally underperformed U.S. Treasury securities in the second half of the period. Generally, bonds with longer duration will experience a larger decline in price relative to shorter duration bonds when interest rates rise.
The Fund’s out-of-Index exposure to collateralized loan obligations and money market securities were leading contributors to performance relative to the Index.
HOW WAS THE FUND POSITIONED?
During the period, the Fund’s portfolio managers maintained a long duration position as the U.S. Federal Reserve (the “Fed”) maintained its ultra-accommodative monetary policy. However, interest rates began to move higher starting in September 2021, as the Fed’s transitory narrative regarding inflation was
called into question given a faster-than-expected recovery in labor markets coupled with a slow recovery in supply chains. The portfolio managers reduced the duration of the portfolio dramatically in the second half of the period amid rising interest rates.
In descending order, the Fund’s largest allocations at the end of the period were in corporate bonds, money market securities, collateralized loan obligations, asset-backed securities, mortgage-backed securities and non-corporate credit.
PORTFOLIO COMPOSITION BY SECTOR AS OF FEBRUARY 28, 2022 |
PERCENT
OF TOTAL INVESTMENTS |
|||
Financials | 38.0 | % | ||
Asset-Backed Securities | 11.4 | |||
Utilities | 3.6 | |||
Health Care | 3.5 | |||
Consumer Discretionary | 2.5 | |||
Consumer Staples | 2.1 | |||
Commercial Mortgage-Backed Securities | 1.9 | |||
Industrials | 1.4 | |||
Information Technology | 1.1 | |||
Energy | 1.0 | |||
Others (each less than 1.0%) | 1.3 | |||
Short-Term Investments | 32.2 |
* | The return shown is based on net asset value and may differ from the return shown in the financial highlights, which reflects adjustments made to the net asset value in accordance with accounting principles generally accepted in the United States of America. The net asset value was $50.35 as of February 28, 2022. |
** | Market price return was calculated assuming an initial investment made at the market price at the beginning of the reporting period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. The price used to calculate the market price return was the closing price on the Cboe BZX Exchange, Inc. As of February 28, 2022, the closing price was $50.37. |
*** | The adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved. |
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 23 |
JPMorgan Ultra-Short Income ETF
FUND COMMENTARY
TWELVE MONTHS ENDED FEBRUARY 28, 2022 (Unaudited) (continued)
AVERAGE ANNUAL TOTAL RETURNS AS OF FEBRUARY 28, 2022 (Unaudited) |
||||||||||||
INCEPTION DATE | 1 YEAR | SINCE INCEPTION |
||||||||||
JPMorgan Ultra-Short Income ETF |
||||||||||||
Net Asset Value |
May 17, 2017 | (0.12)% | 1.82% | |||||||||
Market Price |
(0.12)% | 1.83% |
LIFE OF FUND PERFORMANCE (5/17/17 TO 2/28/22)
The performance quoted is past performance and is not a guarantee of future results. Exchange-traded funds are subject to certain market risks. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data shown. For up-to-date, month-end performance information please call 1-844-457-6383.
Fund commenced operations on May 17, 2017.
The graph illustrates comparative performance for $10,000 invested in shares of the JPMorgan Ultra-Short Income ETF and the ICE BofAML 3-Month US Treasury Bill Index from May 17, 2017 to February 28, 2022. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the ICE BofAML 3-Month US Treasury Bill Index does not reflect the deduction of expenses associated with an exchange-traded fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable. The ICE BofAML 3-Month US
Treasury Bill Index is comprised of a single issue purchased at the beginning of the month and held for a full month. The index is rebalanced monthly and the issue selected is the outstanding Treasury Bill that matures closest to, but not beyond 3 months from the rebalancing date. Investors cannot invest directly in an index.
Fund performance reflects waiver of a portion of the Fund’s fees and reimbursement of expenses for certain periods from the Fund’s inception date and prior to implementation of a unitary fee structure on November 19, 2019. Without these waivers and reimbursements, performance would have been lower. Also, performance shown in this section does not reflect the deduction of taxes that a shareholder may pay on Fund distributions or on gains resulting from redemption or sale of Fund shares.
The returns shown are based on net asset values calculated for shareholder transactions and may differ from the returns shown in the financial highlights, which reflect adjustments made to the net asset values in accordance with accounting principles generally accepted in the United States of America.
24 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
JPMorgan Ultra-Short Municipal Income ETF
FUND COMMENTARY
TWELVE MONTHS ENDED FEBRUARY 28, 2022 (Unaudited)
REPORTING PERIOD RETURN: | ||||
Net Asset Value* | (0.19)% | |||
Market Price** | (0.29)% | |||
Bloomberg 1 Year Municipal Bond Index (formerly known as Bloomberg Barclays 1-Year Municipal Bond Index) | (0.61)% | |||
Net Assets as of 2/28/2022 | $ | 3,116,619,866 | ||
Duration as of 2/28/2022 | 0.7 Years | |||
Fund Ticker | JMST |
INVESTMENT OBJECTIVE***
The JPMorgan Ultra-Short Municipal Income ETF (the “Fund”) seeks as high a level of current income exempt from federal income tax as is consistent with relative stability of principal.
INVESTMENT APPROACH
The Fund invests primarily in investment grade fixed, variable and floating rate municipal securities or the unrated equivalent, the income from which is exempt from federal income tax. The Fund invests in a portfolio of municipal securities with an average weighted maturity of two years or less.
HOW DID THE FUND PERFORM?
For the twelve months ended February 28, 2022, the Fund outperformed the Bloomberg 1 Year Municipal Bond Index (the “Index”).
Relative to the Index, the Fund’s shorter duration and its underweight allocation to bonds rated AA and higher were leading contributors to performance. Generally, bonds of shorter duration will experience a smaller decrease in price compared with longer duration bonds when interest rates rise. The Fund’s underweight allocation in the pre-refunded bonds sector and its overweight allocations to the hospital and housing sectors also contributed to relative performance. The Fund’s out-of-Index allocation to variable rate demand notes, which were used to manage the Fund’s liquidity, also helped relative performance.
The Fund’s underweight allocations to bonds rated BBB was a leading detractor from relative performance. The Fund’s overweight allocation to the leasing sector also detracted from relative performance.
HOW WAS THE FUND POSITIONED?
At the end of the period, the Fund’s duration was 0.7 years compared with 1.3 years for the Index.
PORTFOLIO COMPOSITION AS OF FEBRUARY 28, 2022 |
PERCENT
OF TOTAL INVESTMENTS |
|||
Municipal Bonds | 90.8 | % | ||
Short-Term Investments | 9.2 |
* | The return shown is based on net asset value and may differ from the return shown in the financial highlights, which reflects adjustments made to the net asset value in accordance with accounting principles generally accepted in the United States of America. The net asset value was $50.76 as of February 28, 2022. |
** | Market price return was calculated assuming an initial investment made at the market price at the beginning of the reporting period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. The price used to calculate the market price return was the closing price on the Cboe BZX Exchange, Inc. As of February 28, 2022, the closing price was $50.75. |
*** | The adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved. |
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 25 |
JPMorgan Ultra-Short Municipal Income ETF
FUND COMMENTARY
TWELVE MONTHS ENDED FEBRUARY 28, 2022 (Unaudited) (continued)
AVERAGE ANNUAL TOTAL RETURNS AS OF FEBRUARY 28, 2022 (Unaudited) |
||||||||||||
INCEPTION DATE | 1 YEAR | SINCE INCEPTION |
||||||||||
JPMorgan Ultra-Short Municipal Income ETF |
||||||||||||
Net Asset Value |
October 16, 2018 | (0.19)% | 1.39% | |||||||||
Market Price |
(0.29)% | 1.38% |
LIFE OF FUND PERFORMANCE (10/16/18 TO 2/28/22)
The performance quoted is past performance and is not a guarantee of future results. Exchange-traded funds are subject to certain market risks. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data shown. For up-to-date, month-end performance information please call 1-844-457-6383.
Fund commenced operations on October 16, 2018.
The graph illustrates comparative performance for $10,000 invested in shares of the JPMorgan Ultra-Short Municipal Income ETF and the Bloomberg 1-Year Municipal Bond Index from October 16, 2018 to February 28, 2022. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the Bloomberg 1-Year Municipal Bond Index does not reflect the deduction of expenses associated with an exchange-traded fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable. The Bloomberg 1 Year Municipal Bond Index is an unmanaged index that includes bonds with a
minimum credit rating of BAA3, are issued as part of a deal of at least $50 million, have an amount outstanding of at least $5 million, and have maturities of 1 to 2 years. The performance of the index does not reflect the deduction of expenses associated with a mutual fund, such as investment management fees. By contrast, the performance of the Fund reflects the deduction of the mutual fund expenses, including sales charges if applicable. An individual cannot invest directly in an index.
Fund performance reflects waiver of a portion of the Fund’s fees and reimbursement of expenses for certain periods from the Fund’s inception date and prior to implementation of a unitary fee structure on November 19, 2019. Without these waivers and reimbursements, performance would have been lower. Also, performance shown in this section does not reflect the deduction of taxes that a shareholder may pay on Fund distributions or redemption on gains resulting from or sale of Fund shares.
The returns shown are based on net asset values calculated for shareholder transactions and may differ from the returns shown in the financial highlights, which reflect adjustments made to the net asset values in accordance with accounting principles generally accepted in the United States of America.
26 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
JPMorgan USD Emerging Markets Sovereign Bond ETF
FUND COMMENTARY
TWELVE MONTHS ENDED FEBRUARY 28, 2022 (Unaudited)
REPORTING PERIOD RETURN: | ||||
Net Asset Value* | (7.98)% | |||
Market Price** | (6.78)% | |||
JPMorgan Emerging Markets Risk-Aware Bond Index | (7.61)% | |||
Net Assets as of 2/28/2022 | $ | 69,475,995 | ||
Duration as of 2/28/2022 | 7.6 Years | |||
Fund Ticker | JPMB |
INVESTMENT OBJECTIVE***
The JPMorgan USD Emerging Markets Sovereign Bond ETF (the “Fund”) seeks investment results that closely correspond, before fees and expenses, to the performance of the JPMorgan Emerging Markets Risk-Aware Bond Index (the “Underlying Index”).
INVESTMENT APPROACH
The Fund is passively managed to the Underlying Index, which is comprised of liquid, U.S. dollar-denominated sovereign and quasi-sovereign fixed and floating rate debt securities from emerging markets. The Underlying Index utilizes a rules-based, proprietary methodology that filters for liquidity and for country risk and allocates risk based on credit rating. The Underlying Index methodology includes monthly rebalancing within countries and semi-annual rebalancing across countries. The Fund also employs optimization techniques that seek to minimize tracking error to the Underlying Index.
For the twelve months ended February 28, 2022, the Fund performed in line with the Underlying Index. The majority of
the Fund’s deviation against the Underlying Index was due to operating expenses, fees and tax management of the Fund’s portfolio.
During the period, the Fund’s and the Underlying Index’s allocations to high yield bonds (also known as “junk bonds”) were leading contributors to performance amid increased investor demand for higher bond yields. The Fund’s and the Underlying Index’s risk filters screened out exposures to Ecuador and Angola, which detracted from performance amid investor expectations that both nations might benefit from potential interventions by the International Monetary Fund.
HOW WAS THE FUND POSITIONED?
The Fund invested at least 80% of its assets in securities included in the Underlying Index. During the reporting period, the Fund’s and Underlying Index’s largest allocations were to Turkey and Brazil and their smallest allocations were to Ethiopia and Tunisia.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 27 |
JPMorgan USD Emerging Markets Sovereign Bond ETF
FUND COMMENTARY
TWELVE MONTHS ENDED FEBRUARY 28, 2022 (Unaudited) (continued)
PORTFOLIO
COMPOSITION BY COUNTRY AS OF FEBRUARY 28, 2022 |
PERCENT OF TOTAL INVESTMENTS |
|||
Turkey | 7.9 | % | ||
Brazil | 6.8 | |||
Oman | 6.1 | |||
Colombia | 5.8 | |||
Dominican Republic | 5.6 | |||
South Africa | 5.6 | |||
Bahrain | 5.1 | |||
Mexico | 3.8 | |||
Indonesia | 3.4 | |||
Saudi Arabia | 3.2 | |||
Qatar | 3.0 | |||
United Arab Emirates | 2.9 | |||
China | 2.6 | |||
Nigeria | 2.5 | |||
Philippines | 2.3 | |||
Peru | 2.1 | |||
Chile | 2.1 | |||
Panama | 1.9 | |||
Kenya | 1.8 | |||
Malaysia | 1.8 | |||
Jamaica | 1.7 | |||
Pakistan | 1.7 | |||
Azerbaijan | 1.5 | |||
Ukraine | 1.5 | |||
Uruguay | 1.5 | |||
Kazakhstan | 1.3 | |||
Costa Rica | 1.3 | |||
Jordan | 1.2 | |||
Egypt | 1.2 | |||
Hungary | 1.1 | |||
Morocco | 1.1 | |||
Paraguay | 1.0 | |||
Others (each less than 1.0%) | 6.2 | |||
Short-Term Investments | 1.4 |
* | The return shown is based on net asset value and may differ from the return shown in the financial highlights, which reflects adjustments made to the net asset value in accordance with accounting principles generally accepted in the United States of America. The net asset value was $43.43 as of February 28, 2022. |
** | Market price return was calculated assuming an initial investment made at the market price at the beginning of the reporting period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. The price used to calculate the market price return was the closing price on the NYSE Arca, Inc. As of February 28, 2022, the closing price was $44.06. |
*** | The adviser seeks to achieve the Fund’s objective. There can be no guarantee it will be achieved. |
28 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
AVERAGE ANNUAL TOTAL RETURNS AS OF FEBRUARY 28, 2022 (Unaudited) |
||||||||||||
INCEPTION DATE | 1 YEAR | SINCE INCEPTION |
||||||||||
JPMorgan USD Emerging Markets Sovereign Bond ETF |
||||||||||||
Net Asset Value | January 29, 2018 | (7.98)% | 1.04% | |||||||||
Market Price | (6.78)% | 1.38% |
LIFE OF FUND PERFORMANCE (1/29/18 TO 2/28/22)
The performance quoted is past performance and is not a guarantee of future results. Exchange-traded funds are subject to certain market risks. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data shown. For up-to-date, month-end performance information please call 1-844-457-6383.
Fund commenced operations on January 29, 2018.
The graph illustrates comparative performance for $10,000 invested in shares of the JPMorgan USD Emerging Markets Sovereign Bond ETF and the JPMorgan Emerging Markets Risk-Aware Bond Index from January 29, 2018 to February 28, 2022. The performance of the Fund reflects the deduction of Fund expenses and assumes reinvestment of all dividends and capital gain distributions, if any. The performance of the JPMorgan Emerging Markets Risk-Aware Bond Index does not reflect the deduction of expenses associated with an exchange-traded fund and has been adjusted to reflect reinvestment of all dividends and capital gain distributions of the securities included in the Index, if applicable. The JPMorgan Emerging Markets Risk-Aware Bond Index (the “index”) is comprised of liquid, U.S. dollar-denominated sovereign and quasi-sovereign fixed and floating rate debt securities from emerging markets selected using a rules-based methodology and is owned by J.P. Morgan Investment Inc., the Fund’s adviser (the “Adviser”). The Index is maintained and calculated by J.P. Morgan Securities LLC (“JPMS” or the “Index Provider”), which selects securities in accordance with the methodology from among the components of the J.P. Morgan Emerging Market Bond Index Global Diversified, which was developed and is maintained by the Index Provider. The Index Provider and the Adviser are both wholly-owned subsidiaries of JPMorgan Chase & Co., a publicly-held financial services holding company. The Index
starts with the J.P. Morgan Emerging Market Bond Index Global Diversified and applies a proprietary methodology that filters for liquidity and for country risk and allocates risk based on credit rating. Historically, the J.P. Morgan Emerging Markets Bond Index Global Diversified has included bonds issued by the countries of Angola, Argentina, Armenia, Azerbaijan, Belize, Bolivia, Brazil, Cameroon, Chile, China, Colombia, Costa Rica, Cote D’Ivoire, Croatia, Dominican Republic, Ecuador, Egypt, El Salvador, Ethiopia, Gabon, Georgia, Ghana, Guatemala, Honduras, Hungary, India, Indonesia, Iraq, Jamaica, Jordan, Kazakhstan, Kenya, Latvia, Lebanon, Lithuania, Malaysia, Mexico, Mongolia, Morocco, Mozambique, Namibia, Nigeria, Oman, Pakistan, Panama, Paraguay, Peru, Philippines, Poland, Romania, Russian Federation, Senegal, Serbia, Slovakia, South Africa, Sri Lanka, Suriname, Trinidad and Tobago, Tunisia, Turkey, Ukraine, Uruguay, Venezuela, Vietnam, Zambia; however, this universe of countries may change in accordance with the Index Provider’s determination of eligible emerging market countries and there is no assurance that a particular country will be represented in the Underlying Index at any given time. Investors cannot invest directly in an index.
Fund performance reflects waiver of a portion of the Fund’s fees and reimbursement of expenses for certain periods from the Fund’s inception date and prior to implementation of a unitary fee structure on November 19, 2019. Without these waivers and reimbursements, performance would have been lower. Also, performance shown in this section does not reflect the deduction of taxes that a shareholder may pay on Fund distributions or on gains resulting from redemption or sale of Fund shares.
The returns shown are based on net asset values calculated for shareholder transactions and may differ from the returns shown in the financial highlights, which reflect adjustments made to the net asset values in accordance with accounting principles generally accepted in the United States of America.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 29 |
JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
U.S. Treasury Obligations — 56.7% |
| |||||||
U.S. Treasury Bonds 7.50%, 11/15/2024 |
996,000 | 1,151,936 | ||||||
U.S. Treasury Notes |
|
|||||||
1.63%, 12/15/2022 |
739,000 | 743,070 | ||||||
2.00%, 2/15/2023 |
400,000 | 403,531 | ||||||
1.50%, 2/28/2023 |
705,000 | 707,837 | ||||||
1.50%, 3/31/2023 |
24,000 | 24,092 | ||||||
0.25%, 6/15/2023 |
1,240,000 | 1,224,452 | ||||||
0.13%, 6/30/2023 |
261,000 | 257,105 | ||||||
0.13%, 8/15/2023 |
566,000 | 556,294 | ||||||
2.75%, 2/15/2024 |
252,000 | 258,270 | ||||||
2.13%, 2/29/2024 |
1,000 | 1,013 | ||||||
2.38%, 2/29/2024 |
2,415,000 | 2,457,829 | ||||||
2.13%, 3/31/2024 |
70,000 | 70,902 | ||||||
0.38%, 4/15/2024 |
361,000 | 352,398 | ||||||
2.00%, 4/30/2024 |
480,000 | 484,913 | ||||||
2.25%, 4/30/2024 |
15,000 | 15,234 | ||||||
2.00%, 5/31/2024 |
335,000 | 338,455 | ||||||
1.75%, 6/30/2024 |
282,000 | 283,344 | ||||||
1.75%, 7/31/2024 |
717,000 | 720,249 | ||||||
0.38%, 9/15/2024 |
354,000 | 343,269 | ||||||
1.50%, 10/31/2024 |
258,000 | 257,254 | ||||||
0.50%, 3/31/2025 |
1,303,000 | 1,257,904 | ||||||
0.38%, 4/30/2025 |
46,000 | 44,167 | ||||||
0.25%, 5/31/2025 |
1,796,000 | 1,714,899 | ||||||
0.25%, 6/30/2025 |
340,000 | 324,116 | ||||||
0.25%, 9/30/2025 |
90,000 | 85,437 | ||||||
0.38%, 11/30/2025 |
2,440,000 | 2,320,859 | ||||||
0.38%, 12/31/2025 |
26,000 | 24,708 | ||||||
2.63%, 12/31/2025 |
5,000 | 5,168 | ||||||
0.75%, 5/31/2026 |
797,000 | 764,560 | ||||||
0.63%, 7/31/2026 |
709,000 | 675,267 | ||||||
0.75%, 8/31/2026 |
464,000 | 444,063 | ||||||
0.88%, 9/30/2026 |
140,000 | 134,619 | ||||||
1.63%, 9/30/2026 |
51,000 | 50,721 | ||||||
1.13%, 10/31/2026 |
247,000 | 240,072 | ||||||
1.63%, 10/31/2026 |
125,000 | 124,316 | ||||||
1.25%, 11/30/2026 |
139,000 | 135,905 | ||||||
1.25%, 12/31/2026 |
303,000 | 296,088 | ||||||
1.50%, 1/31/2027 |
488,000 | 482,434 | ||||||
|
|
|||||||
Total
U.S. Treasury Obligations |
|
19,776,750 | ||||||
|
|
|||||||
Corporate Bonds — 24.8% |
| |||||||
Aerospace & Defense — 0.4% |
| |||||||
Boeing Co. (The) |
||||||||
1.17%, 2/4/2023 |
12,000 | 11,922 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Aerospace & Defense — continued |
| |||||||
1.95%, 2/1/2024 |
4,000 | 3,985 | ||||||
4.88%, 5/1/2025 |
5,000 | 5,317 | ||||||
2.60%, 10/30/2025 |
8,000 | 7,953 | ||||||
2.75%, 2/1/2026 |
32,000 | 32,011 | ||||||
General Dynamics Corp. |
||||||||
2.25%, 11/15/2022 |
2,000 | 2,011 | ||||||
1.88%, 8/15/2023 |
10,000 | 10,038 | ||||||
2.38%, 11/15/2024 |
7,000 | 7,068 | ||||||
1.15%, 6/1/2026 |
11,000 | 10,535 | ||||||
Leidos, Inc. 3.63%, 5/15/2025 |
4,000 | 4,125 | ||||||
Lockheed Martin Corp. 3.10%, 1/15/2023 |
5,000 | 5,067 | ||||||
Precision
Castparts Corp. |
16,000 | 16,584 | ||||||
Raytheon
Technologies Corp. |
16,000 | 16,389 | ||||||
|
|
|||||||
133,005 | ||||||||
|
|
|||||||
Air Freight & Logistics — 0.1% |
| |||||||
FedEx Corp. 3.25%, 4/1/2026 |
13,000 | 13,523 | ||||||
United
Parcel Service, Inc. |
10,000 | 10,090 | ||||||
|
|
|||||||
23,613 | ||||||||
|
|
|||||||
Airlines — 0.0% (a) |
| |||||||
Southwest Airlines Co. 5.25%, 5/4/2025 |
2,000 | 2,157 | ||||||
|
|
|||||||
Banks — 6.4% |
| |||||||
Banco Bilbao Vizcaya Argentaria SA (Spain) 0.88%, 9/18/2023 |
200,000 | 197,068 | ||||||
Banco Santander SA (Spain) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.90%), 1.72%, 9/14/2027 (b) |
200,000 | 188,578 | ||||||
Bank of America Corp. |
||||||||
(ICE
LIBOR USD 3 Month + 0.64%), |
35,000 | 34,421 | ||||||
3.50%, 4/19/2026 |
60,000 | 62,223 | ||||||
(SOFR + 1.15%), 1.32%, 6/19/2026 (b) |
154,000 | 147,235 | ||||||
(SOFR + 0.96%), 1.73%, 7/22/2027 (b) |
39,000 | 37,256 | ||||||
Bank of Montreal (Canada) |
||||||||
1.25%, 9/15/2026 |
4,000 | 3,794 | ||||||
(SOFR + 0.60%), 0.95%, 1/22/2027 (b) |
9,000 | 8,494 | ||||||
(USD
Swap Semi 5 Year + 1.28%), |
12,000 | 12,363 | ||||||
Bank
of Nova Scotia (The) (Canada) |
12,000 | 11,961 | ||||||
Barclays
plc (United Kingdom) |
40,000 | 41,055 |
SEE NOTES TO FINANCIAL STATEMENTS.
30 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Banks — continued |
| |||||||
Canadian Imperial Bank of Commerce (Canada) 2.25%, 1/28/2025 |
20,000 | 19,975 | ||||||
Citigroup, Inc. |
||||||||
(ICE
LIBOR USD 3 Month + 1.02%), |
24,000 | 24,617 | ||||||
3.70%, 1/12/2026 |
6,000 | 6,268 | ||||||
(SOFR + 0.77%), 1.12%, 1/28/2027 (b) |
63,000 | 59,351 | ||||||
(SOFR + 0.77%), 1.46%, 6/9/2027 (b) |
50,000 | 47,360 | ||||||
Comerica, Inc. 3.70%, 7/31/2023 |
15,000 | 15,345 | ||||||
Fifth Third Bancorp 4.30%, 1/16/2024 |
12,000 | 12,464 | ||||||
First Citizens BancShares, Inc. (TSFR3M + 2.47%), 3.38%, 3/15/2030 (b) |
20,000 | 19,880 | ||||||
First Horizon Corp. 3.55%, 5/26/2023 |
24,000 | 24,384 | ||||||
HSBC Holdings plc (United Kingdom) (SOFR + 1.40%), 2.63%, 11/7/2025 (b) |
30,000 | 29,962 | ||||||
Huntington Bancshares, Inc. |
||||||||
2.63%, 8/6/2024 |
17,000 | 17,129 | ||||||
4.00%, 5/15/2025 |
8,000 | 8,362 | ||||||
Korea Development Bank (The) (South Korea) 0.40%, 6/19/2024 |
200,000 | 194,076 | ||||||
Kreditanstalt fuer Wiederaufbau (Germany) |
||||||||
2.00%, 10/4/2022 |
25,000 | 25,169 | ||||||
0.25%, 3/8/2024 |
22,000 | 21,452 | ||||||
2.50%, 11/20/2024 |
13,000 | 13,298 | ||||||
0.38%, 7/18/2025 |
28,000 | 26,740 | ||||||
0.63%, 1/22/2026 |
26,000 | 24,836 | ||||||
Landwirtschaftliche Rentenbank (Germany) |
||||||||
3.13%, 11/14/2023 |
39,000 | 40,101 | ||||||
Series 40, 0.50%, 5/27/2025 |
39,000 | 37,460 | ||||||
0.88%, 3/30/2026 |
118,000 | 113,439 | ||||||
1.75%, 7/27/2026 |
1,000 | 998 | ||||||
Mitsubishi UFJ Financial Group, Inc. (Japan) 3.41%, 3/7/2024 |
10,000 | 10,252 | ||||||
Oesterreichische Kontrollbank AG (Austria) 3.13%, 11/7/2023 |
9,000 | 9,252 | ||||||
PNC Financial Services Group, Inc. (The) |
||||||||
2.85%, 11/9/2022 (c) |
12,000 | 12,133 | ||||||
3.50%, 1/23/2024 |
76,000 | 78,214 | ||||||
2.20%, 11/1/2024 |
18,000 | 18,061 | ||||||
Regions Financial Corp. 2.25%, 5/18/2025 |
65,000 | 65,097 | ||||||
Royal
Bank of Canada (Canada) |
11,000 | 11,053 | ||||||
Santander
Holdings USA, Inc. |
26,000 | 26,365 | ||||||
Santander
UK plc (United Kingdom) |
29,000 | 30,068 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Banks — continued |
||||||||
Sumitomo Mitsui Financial Group, Inc. (Japan) 3.01%, 10/19/2026 |
95,000 | 96,457 | ||||||
Toronto-Dominion Bank (The) (Canada) |
||||||||
0.75%, 9/11/2025 |
5,000 | 4,726 | ||||||
1.25%, 9/10/2026 |
10,000 | 9,485 | ||||||
Truist Bank 3.00%, 2/2/2023 |
14,000 | 14,170 | ||||||
Truist Financial Corp. |
||||||||
3.75%, 12/6/2023 |
12,000 | 12,382 | ||||||
3.70%, 6/5/2025 |
6,000 | 6,270 | ||||||
1.20%, 8/5/2025 |
8,000 | 7,713 | ||||||
(SOFR + 0.61%), 1.27%, 3/2/2027 (b) |
29,000 | 27,704 | ||||||
US Bancorp Series V, 2.38%, 7/22/2026 |
91,000 | 91,627 | ||||||
Valley National Bancorp (SOFR + 2.36%), 3.00%, 6/15/2031 (b) |
36,000 | 35,383 | ||||||
Wells
Fargo & Co. |
||||||||
3.30%, 9/9/2024 |
17,000 | 17,437 | ||||||
(SOFR + 0.51%), 0.80%, 5/19/2025 (b) |
10,000 | 9,683 | ||||||
3.55%, 9/29/2025 |
13,000 | 13,475 | ||||||
(ICE
LIBOR USD 3 Month + 0.75%), |
50,000 | 49,407 | ||||||
3.00%, 4/22/2026 |
8,000 | 8,109 | ||||||
(SOFR + 2.00%), 2.19%, 4/30/2026 (b) |
25,000 | 24,681 | ||||||
3.00%, 10/23/2026 |
2,000 | 2,028 | ||||||
(ICE
LIBOR USD 3 Month + 1.17%), |
5,000 | 5,082 | ||||||
|
|
|||||||
2,223,428 | ||||||||
|
|
|||||||
Beverages — 0.2% |
| |||||||
Coca-Cola Co. (The) 1.75%, 9/6/2024 |
15,000 | 15,006 | ||||||
Keurig Dr Pepper, Inc. |
||||||||
3.13%, 12/15/2023 |
14,000 | 14,284 | ||||||
3.40%, 11/15/2025 |
2,000 | 2,062 | ||||||
PepsiCo, Inc. |
||||||||
3.60%, 3/1/2024 |
20,000 | 20,673 | ||||||
2.85%, 2/24/2026 |
10,000 | 10,308 | ||||||
2.38%, 10/6/2026 |
2,000 | 2,028 | ||||||
|
|
|||||||
64,361 | ||||||||
|
|
|||||||
Biotechnology — 0.4% |
| |||||||
AbbVie, Inc. |
||||||||
3.75%, 11/14/2023 |
4,000 | 4,125 | ||||||
3.85%, 6/15/2024 |
17,000 | 17,583 | ||||||
2.60%, 11/21/2024 |
10,000 | 10,091 | ||||||
3.80%, 3/15/2025 |
42,000 | 43,623 | ||||||
3.60%, 5/14/2025 |
15,000 | 15,501 | ||||||
Amgen, Inc. |
||||||||
3.63%, 5/22/2024 |
15,000 | 15,499 | ||||||
1.90%, 2/21/2025 |
8,000 | 7,952 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 31 |
JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Biotechnology — continued |
||||||||
Baxalta, Inc. 4.00%, 6/23/2025 |
4,000 | 4,181 | ||||||
Gilead Sciences, Inc. |
||||||||
2.50%, 9/1/2023 |
10,000 | 10,110 | ||||||
3.65%, 3/1/2026 |
13,000 | 13,564 | ||||||
|
|
|||||||
142,229 | ||||||||
|
|
|||||||
Building Products — 0.0% (a) |
| |||||||
Carrier Global Corp. 2.24%, 2/15/2025 |
9,000 | 8,989 | ||||||
Lennox International, Inc. 1.35%, 8/1/2025 |
2,000 | 1,925 | ||||||
|
|
|||||||
10,914 | ||||||||
|
|
|||||||
Capital Markets — 2.8% |
| |||||||
Ameriprise
Financial, Inc. |
8,000 | 8,334 | ||||||
Bain
Capital Specialty Finance, Inc. |
24,000 | 22,480 | ||||||
Bank of New York Mellon Corp. (The) |
||||||||
1.60%, 4/24/2025 |
10,000 | 9,845 | ||||||
0.75%, 1/28/2026 |
51,000 | 48,377 | ||||||
1.05%, 10/15/2026 |
9,000 | 8,559 | ||||||
Blackstone
Secured Lending Fund |
5,000 | 4,798 | ||||||
Charles
Schwab Corp. (The) |
90,000 | 85,315 | ||||||
Deutsche
Bank AG (Germany) |
26,000 | 26,688 | ||||||
Franklin Resources, Inc. 2.85%, 3/30/2025 |
2,000 | 2,039 | ||||||
Goldman Sachs Group, Inc. (The) |
||||||||
3.20%, 2/23/2023 |
25,000 | 25,310 | ||||||
3.63%, 2/20/2024 |
13,000 | 13,358 | ||||||
3.85%, 7/8/2024 |
15,000 | 15,496 | ||||||
3.50%, 4/1/2025 |
50,000 | 51,407 | ||||||
3.75%, 5/22/2025 |
15,000 | 15,520 | ||||||
(ICE
LIBOR USD 3 Month + 1.20%), |
20,000 | 20,358 | ||||||
3.75%, 2/25/2026 |
5,000 | 5,207 | ||||||
(SOFR + 0.82%), 1.54%, 9/10/2027 (b) |
8,000 | 7,539 | ||||||
(SOFR
+ 0.91%), |
29,000 | 27,802 | ||||||
(SOFR + 1.11%), 2.64%, 2/24/2028 (b) |
13,000 | 12,847 | ||||||
Golub Capital BDC, Inc. |
||||||||
2.50%, 8/24/2026 |
4,000 | 3,786 | ||||||
2.05%, 2/15/2027 |
33,000 | 30,193 | ||||||
Janus
Henderson US Holdings, Inc. |
5,000 | 5,333 | ||||||
Jefferies Group LLC 4.85%, 1/15/2027 |
5,000 | 5,448 | ||||||
Moody’s Corp. 4.88%, 2/15/2024 |
7,000 | 7,341 | ||||||
Morgan Stanley |
||||||||
3.13%, 1/23/2023 |
31,000 | 31,399 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Capital Markets — continued |
||||||||
3.70%, 10/23/2024 |
29,000 | 29,999 | ||||||
(SOFR + 0.51%), 0.79%, 1/22/2025 (b) |
3,000 | 2,915 | ||||||
Series
I, (SOFR + 0.75%), |
207,000 | 198,668 | ||||||
4.35%, 9/8/2026 |
4,000 | 4,248 | ||||||
(SOFR + 0.88%), 1.59%, 5/4/2027 (b) |
24,000 | 22,865 | ||||||
(SOFR + 0.86%), 1.51%, 7/20/2027 (b) |
20,000 | 18,960 | ||||||
State Street Corp. |
||||||||
3.10%, 5/15/2023 |
19,000 | 19,335 | ||||||
3.70%, 11/20/2023 |
56,000 | 57,863 | ||||||
(ICE
LIBOR USD 3 Month + 0.77%), |
10,000 | 10,319 | ||||||
3.55%, 8/18/2025 |
24,000 | 25,055 | ||||||
(SOFR + 0.94%), 2.35%, 11/1/2025 (b) |
48,000 | 48,290 | ||||||
(SOFR + 0.73%), 2.20%, 2/7/2028 (b) |
29,000 | 28,629 | ||||||
Stifel Financial Corp. 4.25%, 7/18/2024 |
2,000 | 2,083 | ||||||
|
|
|||||||
964,008 | ||||||||
|
|
|||||||
Chemicals — 0.3% |
| |||||||
Air
Products and Chemicals, Inc. |
21,000 | 20,540 | ||||||
Celanese US Holdings LLC 1.40%, 8/5/2026 |
11,000 | 10,346 | ||||||
International Flavors & Fragrances, Inc. 3.20%, 5/1/2023 |
35,000 | 35,417 | ||||||
LYB
International Finance III LLC |
7,000 | 6,689 | ||||||
Mosaic Co. (The) 4.25%, 11/15/2023 |
2,000 | 2,068 | ||||||
Nutrien Ltd. (Canada) 3.00%, 4/1/2025 |
6,000 | 6,101 | ||||||
PPG Industries, Inc. 1.20%, 3/15/2026 |
8,000 | 7,637 | ||||||
|
|
|||||||
88,798 | ||||||||
|
|
|||||||
Commercial Services & Supplies — 0.1% |
| |||||||
Waste
Management, Inc. |
23,000 | 21,736 | ||||||
|
|
|||||||
Communications Equipment — 0.0% (a) |
| |||||||
Cisco Systems, Inc. 2.20%, 9/20/2023 |
4,000 | 4,041 | ||||||
|
|
|||||||
Consumer Finance — 1.9% |
| |||||||
AerCap
Ireland Capital DAC (Ireland) |
150,000 | 151,529 | ||||||
Ally Financial, Inc. 3.88%, 5/21/2024 |
87,000 | 89,764 | ||||||
American Express Co. 2.65%, 12/2/2022 |
112,000 | 113,149 | ||||||
American Honda Finance Corp. |
||||||||
3.63%, 10/10/2023 |
16,000 | 16,471 | ||||||
1.20%, 7/8/2025 |
15,000 | 14,500 | ||||||
1.00%, 9/10/2025 |
10,000 | 9,578 | ||||||
Capital
One Financial Corp. |
51,000 | 52,225 |
SEE NOTES TO FINANCIAL STATEMENTS.
32 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Consumer Finance — continued |
||||||||
Caterpillar Financial Services Corp. |
||||||||
3.30%, 6/9/2024 |
12,000 | 12,376 | ||||||
0.60%, 9/13/2024 |
1,000 | 967 | ||||||
3.25%, 12/1/2024 |
6,000 | 6,199 | ||||||
0.80%, 11/13/2025 |
12,000 | 11,435 | ||||||
1.15%, 9/14/2026 |
1,000 | 955 | ||||||
Discover
Financial Services |
25,000 | 25,454 | ||||||
General
Motors Financial Co., Inc. |
47,000 | 49,321 | ||||||
John Deere Capital Corp. |
||||||||
2.70%, 1/6/2023 |
23,000 | 23,294 | ||||||
0.70%, 7/5/2023 |
7,000 | 6,921 | ||||||
0.40%, 10/10/2023 |
1,000 | 982 | ||||||
2.65%, 6/24/2024 |
15,000 | 15,247 | ||||||
1.25%, 1/10/2025 |
2,000 | 1,961 | ||||||
1.70%, 1/11/2027 |
47,000 | 45,949 | ||||||
PACCAR Financial Corp. |
||||||||
1.10%, 5/11/2026 |
1,000 | 960 | ||||||
2.00%, 2/4/2027 |
1,000 | 991 | ||||||
Synchrony Financial 3.70%, 8/4/2026 |
12,000 | 12,227 | ||||||
Toyota Motor Credit Corp. |
||||||||
0.80%, 10/16/2025 |
5,000 | 4,754 | ||||||
0.80%, 1/9/2026 |
8,000 | 7,593 | ||||||
|
|
|||||||
674,802 | ||||||||
|
|
|||||||
Containers & Packaging — 0.0% (a) |
| |||||||
Berry Global, Inc. 1.57%, 1/15/2026 |
2,000 | 1,905 | ||||||
WRKCo, Inc. 4.65%, 3/15/2026 |
3,000 | 3,237 | ||||||
|
|
|||||||
5,142 | ||||||||
|
|
|||||||
Diversified Consumer Services — 0.0% (a) |
| |||||||
Yale
University Series 2020, |
1,000 | 969 | ||||||
|
|
|||||||
Diversified Financial Services — 0.2% |
| |||||||
Berkshire
Hathaway, Inc. |
19,000 | 19,729 | ||||||
National Rural Utilities Cooperative Finance Corp. |
||||||||
1.00%, 6/15/2026 |
35,000 | 33,084 | ||||||
(ICE
LIBOR USD 3 Month + 2.91%), |
3,000 | 2,948 | ||||||
(ICE
LIBOR USD 3 Month + 3.63%), |
4,000 | 4,134 | ||||||
Private Export Funding Corp. Series II, 2.05%, 11/15/2022 |
5,000 | 5,035 | ||||||
Shell International Finance BV (Netherlands) 2.00%, 11/7/2024 |
1,000 | 1,003 | ||||||
|
|
|||||||
65,933 | ||||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Diversified Telecommunication Services — 0.1% |
| |||||||
AT&T, Inc. |
||||||||
3.40%, 5/15/2025 |
20,000 | 20,683 | ||||||
4.13%, 2/17/2026 |
5,000 | 5,331 | ||||||
Verizon Communications, Inc. |
||||||||
0.75%, 3/22/2024 |
11,000 | 10,767 | ||||||
0.85%, 11/20/2025 |
7,000 | 6,653 | ||||||
|
|
|||||||
43,434 | ||||||||
|
|
|||||||
Electric Utilities — 0.8% |
| |||||||
American Electric Power Co., Inc. |
||||||||
Series N, 1.00%, 11/1/2025 |
2,000 | 1,897 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.68%), 3.88%, 2/15/2062 (b) |
5,000 | 4,699 | ||||||
Avangrid, Inc. 3.20%, 4/15/2025 |
8,000 | 8,183 | ||||||
Duke Energy Corp. |
||||||||
0.90%, 9/15/2025 |
22,000 | 20,883 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.32%), 3.25%, 1/15/2082 (b) |
2,000 | 1,831 | ||||||
Entergy Louisiana LLC 0.62%, 11/17/2023 |
10,000 | 9,811 | ||||||
Eversource Energy |
||||||||
Series Q, 0.80%, 8/15/2025 |
20,000 | 18,888 | ||||||
Series U, 1.40%, 8/15/2026 |
9,000 | 8,568 | ||||||
Georgia
Power Co. |
16,000 | 15,960 | ||||||
Iberdrola
International BV (Spain) |
2,000 | 2,209 | ||||||
ITC Holdings Corp. 3.25%, 6/30/2026 |
10,000 | 10,267 | ||||||
Oncor
Electric Delivery Co. LLC |
101,000 | 94,835 | ||||||
Pacific Gas and Electric Co. |
||||||||
3.40%, 8/15/2024 |
6,000 | 6,052 | ||||||
3.45%, 7/1/2025 |
15,000 | 15,101 | ||||||
3.15%, 1/1/2026 |
4,000 | 3,984 | ||||||
2.95%, 3/1/2026 |
6,000 | 5,887 | ||||||
Public Service Electric and Gas Co. 0.95%, 3/15/2026 |
49,000 | 46,783 | ||||||
Southern Co. (The) Series 21-A, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.92%), 3.75%, 9/15/2051 (b) |
4,000 | 3,717 | ||||||
|
|
|||||||
279,555 | ||||||||
|
|
|||||||
Electronic Equipment, Instruments & Components — 0.7% |
| |||||||
TD SYNNEX Corp. 1.25%, 8/9/2024 (d) |
206,000 | 199,887 | ||||||
Vontier Corp. 1.80%, 4/1/2026 |
67,000 | 62,583 | ||||||
|
|
|||||||
262,470 | ||||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 33 |
JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Energy Equipment & Services — 0.1% |
| |||||||
Schlumberger
Investment SA |
37,000 | 38,008 | ||||||
|
|
|||||||
Entertainment — 0.3% |
| |||||||
TWDC Enterprises 18 Corp. 1.85%, 7/30/2026 |
69,000 | 67,773 | ||||||
Walt
Disney Co. (The) |
14,000 | 13,941 | ||||||
1.75%, 1/13/2026 |
10,000 | 9,815 | ||||||
|
|
|||||||
91,529 | ||||||||
|
|
|||||||
Equity Real Estate Investment Trusts (REITs) — 0.7% |
| |||||||
American Campus Communities Operating Partnership LP 3.30%, 7/15/2026 |
4,000 | 4,116 | ||||||
American
Tower Corp. |
2,000 | 2,022 | ||||||
1.45%, 9/15/2026 |
12,000 | 11,366 | ||||||
AvalonBay
Communities, Inc. |
6,000 | 6,209 | ||||||
3.50%, 11/15/2024 |
11,000 | 11,343 | ||||||
3.45%, 6/1/2025 |
5,000 | 5,157 | ||||||
3.50%, 11/15/2025 |
2,000 | 2,079 | ||||||
Boston
Properties LP |
6,000 | 6,096 | ||||||
3.65%, 2/1/2026 |
10,000 | 10,358 | ||||||
Brixmor
Operating Partnership LP |
9,000 | 9,270 | ||||||
Crown
Castle International Corp. |
27,000 | 25,906 | ||||||
CyrusOne LP 2.90%, 11/15/2024 |
2,000 | 2,037 | ||||||
ERP Operating LP 2.85%, 11/1/2026 |
1,000 | 1,024 | ||||||
Essex Portfolio LP 3.50%, 4/1/2025 |
8,000 | 8,248 | ||||||
Healthpeak Properties, Inc. 1.35%, 2/1/2027 |
2,000 | 1,893 | ||||||
Mid-America Apartments LP |
9,000 | 8,447 | ||||||
Office
Properties Income Trust |
46,000 | 47,159 | ||||||
Realty Income Corp. 3.88%, 4/15/2025 |
20,000 | 20,881 | ||||||
Simon Property Group LP 3.50%, 9/1/2025 |
48,000 | 49,589 | ||||||
Welltower, Inc. 4.00%, 6/1/2025 |
12,000 | 12,560 | ||||||
|
|
|||||||
245,760 | ||||||||
|
|
|||||||
Food & Staples Retailing — 0.1% |
| |||||||
Kroger
Co. (The) |
2,000 | 2,082 | ||||||
2.65%, 10/15/2026 |
8,000 | 8,075 | ||||||
Walmart,
Inc. |
5,000 | 5,058 | ||||||
1.05%, 9/17/2026 |
27,000 | 25,936 | ||||||
|
|
|||||||
41,151 | ||||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Food Products — 0.1% |
| |||||||
Bunge Ltd. Finance Corp. 1.63%, 8/17/2025 |
17,000 | 16,502 | ||||||
Kellogg Co. 3.25%, 4/1/2026 |
8,000 | 8,213 | ||||||
Tyson Foods, Inc. 3.90%, 9/28/2023 |
9,000 | 9,254 | ||||||
|
|
|||||||
33,969 | ||||||||
|
|
|||||||
Gas Utilities — 0.1% |
| |||||||
Eastern
Energy Gas Holdings LLC |
17,000 | 17,383 | ||||||
National Fuel Gas Co. 5.50%, 1/15/2026 |
20,000 | 21,685 | ||||||
Southern
California Gas Co. |
10,000 | 10,103 | ||||||
|
|
|||||||
49,171 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies — 0.1% |
| |||||||
Medtronic, Inc. 3.50%, 3/15/2025 |
7,000 | 7,301 | ||||||
Stryker Corp. |
||||||||
0.60%, 12/1/2023 |
4,000 | 3,914 | ||||||
1.15%, 6/15/2025 |
10,000 | 9,636 | ||||||
Zimmer Biomet Holdings, Inc. 3.05%, 1/15/2026 |
11,000 | 11,171 | ||||||
|
|
|||||||
32,022 | ||||||||
|
|
|||||||
Health Care Providers & Services — 1.0% |
| |||||||
AmerisourceBergen Corp. 0.74%, 3/15/2023 |
137,000 | 135,834 | ||||||
Anthem, Inc. |
||||||||
3.50%, 8/15/2024 |
13,000 | 13,374 | ||||||
3.35%, 12/1/2024 |
15,000 | 15,441 | ||||||
1.50%, 3/15/2026 |
13,000 | 12,575 | ||||||
Cigna Corp. |
||||||||
0.61%, 3/15/2024 |
100,000 | 97,542 | ||||||
1.25%, 3/15/2026 |
2,000 | 1,913 | ||||||
CommonSpirit Health 2.76%, 10/1/2024 |
5,000 | 5,043 | ||||||
CVS Health Corp. 3.88%, 7/20/2025 |
25,000 | 26,133 | ||||||
HCA, Inc. 5.25%, 4/15/2025 |
9,000 | 9,665 | ||||||
Humana, Inc. 1.35%, 2/3/2027 |
12,000 | 11,304 | ||||||
UnitedHealth Group, Inc. |
||||||||
2.75%, 2/15/2023 |
21,000 | 21,203 | ||||||
1.25%, 1/15/2026 |
10,000 | 9,662 | ||||||
|
|
|||||||
359,689 | ||||||||
|
|
|||||||
Hotels, Restaurants & Leisure — 0.7% |
| |||||||
Marriott
International, Inc. |
2,000 | 2,065 | ||||||
McDonald’s
Corp. |
8,000 | 8,149 | ||||||
3.25%, 6/10/2024 |
8,000 | 8,244 | ||||||
Sands China Ltd. (Macau) 5.12%, 8/8/2025 (c) |
200,000 | 201,395 |
SEE NOTES TO FINANCIAL STATEMENTS.
34 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Hotels, Restaurants & Leisure — continued |
| |||||||
Starbucks Corp. 3.10%, 3/1/2023 |
11,000 | 11,170 | ||||||
|
|
|||||||
231,023 | ||||||||
|
|
|||||||
Household Durables — 0.1% |
| |||||||
DR Horton, Inc. 2.50%, 10/15/2024 |
19,000 | 19,086 | ||||||
|
|
|||||||
Household Products — 0.2% |
| |||||||
Kimberly-Clark Corp. 3.05%, 8/15/2025 |
16,000 | 16,503 | ||||||
Procter & Gamble Co. (The) |
||||||||
0.55%, 10/29/2025 |
44,000 | 41,845 | ||||||
1.90%, 2/1/2027 |
26,000 | 25,947 | ||||||
|
|
|||||||
84,295 | ||||||||
|
|
|||||||
Industrial Conglomerates — 0.2% |
| |||||||
3M Co. |
||||||||
1.75%, 2/14/2023 |
15,000 | 15,063 | ||||||
2.25%, 3/15/2023 |
6,000 | 6,053 | ||||||
Honeywell International, Inc. |
||||||||
3.35%, 12/1/2023 |
12,000 | 12,328 | ||||||
2.30%, 8/15/2024 |
15,000 | 15,152 | ||||||
Roper Technologies, Inc. |
||||||||
3.65%, 9/15/2023 |
10,000 | 10,253 | ||||||
1.00%, 9/15/2025 |
4,000 | 3,805 | ||||||
|
|
|||||||
62,654 | ||||||||
|
|
|||||||
Insurance — 0.4% |
| |||||||
Aflac, Inc. |
||||||||
3.25%, 3/17/2025 |
4,000 | 4,138 | ||||||
1.13%, 3/15/2026 |
30,000 | 28,664 | ||||||
Allied World Assurance Co. Holdings Ltd. 4.35%, 10/29/2025 |
9,000 | 9,422 | ||||||
Allstate Corp. (The) 0.75%, 12/15/2025 |
30,000 | 28,225 | ||||||
Aon Corp. 2.20%, 11/15/2022 |
25,000 | 25,156 | ||||||
Aspen Insurance Holdings Ltd. (Bermuda) 4.65%, 11/15/2023 |
2,000 | 2,077 | ||||||
Kemper Corp. 4.35%, 2/15/2025 |
6,000 | 6,299 | ||||||
Old Republic International Corp. 3.88%, 8/26/2026 |
6,000 | 6,264 | ||||||
Prudential Financial, Inc. 1.50%, 3/10/2026 |
18,000 | 17,616 | ||||||
(ICE LIBOR USD 3 Month + 3.03%), 5.38%, 5/15/2045 (b) |
8,000 | 8,145 | ||||||
|
|
|||||||
136,006 | ||||||||
|
|
|||||||
Interactive Media & Services — 0.0% (a) |
| |||||||
Alphabet, Inc. |
||||||||
3.38%, 2/25/2024 |
6,000 | 6,212 | ||||||
0.45%, 8/15/2025 |
9,000 | 8,584 | ||||||
|
|
|||||||
14,796 | ||||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Internet & Direct Marketing Retail — 0.2% |
| |||||||
Amazon.com, Inc. |
||||||||
2.80%, 8/22/2024 |
7,000 | 7,160 | ||||||
0.80%, 6/3/2025 |
10,000 | 9,648 | ||||||
1.00%, 5/12/2026 |
37,000 | 35,613 | ||||||
eBay, Inc. 1.90%, 3/11/2025 |
2,000 | 1,976 | ||||||
|
|
|||||||
54,397 | ||||||||
|
|
|||||||
IT Services — 0.1% |
| |||||||
CGI, Inc. (Canada) 1.45%, 9/14/2026 (d) |
3,000 | 2,854 | ||||||
Fidelity National Information Services, Inc. |
||||||||
0.60%, 3/1/2024 |
8,000 | 7,769 | ||||||
Kyndryl Holdings, Inc. 2.05%, 10/15/2026 (d) |
7,000 | 6,604 | ||||||
Mastercard, Inc. 3.38%, 4/1/2024 |
7,000 | 7,239 | ||||||
PayPal Holdings, Inc. 2.40%, 10/1/2024 |
16,000 | 16,139 | ||||||
|
|
|||||||
40,605 | ||||||||
|
|
|||||||
Leisure Products — 0.0% (a) |
| |||||||
Hasbro, Inc. |
||||||||
3.00%, 11/19/2024 |
5,000 | 5,069 | ||||||
3.55%, 11/19/2026 |
3,000 | 3,099 | ||||||
|
|
|||||||
8,168 | ||||||||
|
|
|||||||
Machinery — 0.3% |
| |||||||
CNH Industrial Capital LLC |
||||||||
1.88%, 1/15/2026 |
13,000 | 12,667 | ||||||
1.45%, 7/15/2026 |
3,000 | 2,849 | ||||||
Cummins, Inc. 0.75%, 9/1/2025 |
92,000 | 87,604 | ||||||
|
|
|||||||
103,120 | ||||||||
|
|
|||||||
Media — 0.5% |
| |||||||
Charter Communications Operating LLC 4.91%, 7/23/2025 |
10,000 | 10,609 | ||||||
Comcast Corp. |
||||||||
3.38%, 8/15/2025 |
20,000 | 20,697 | ||||||
3.95%, 10/15/2025 |
13,000 | 13,723 | ||||||
2.35%, 1/15/2027 |
8,000 | 7,982 | ||||||
Fox Corp. 3.05%, 4/7/2025 |
14,000 | 14,280 | ||||||
Omnicom Group, Inc. 3.65%, 11/1/2024 |
9,000 | 9,300 | ||||||
Paramount Global 4.00%, 1/15/2026 |
16,000 | 16,699 | ||||||
TCI Communications, Inc. 7.88%, 2/15/2026 |
1,000 | 1,204 | ||||||
WPP
Finance 2010 (United Kingdom) |
66,000 | 68,350 | ||||||
|
|
|||||||
162,844 | ||||||||
|
|
|||||||
Metals & Mining — 0.0% (a) |
| |||||||
ArcelorMittal SA (Luxembourg) 4.55%, 3/11/2026 |
2,000 | 2,100 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 35 |
JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Metals & Mining — continued |
| |||||||
BHP Billiton Finance USA Ltd. (Australia) 6.42%, 3/1/2026 |
1,000 | 1,157 | ||||||
|
|
|||||||
3,257 | ||||||||
|
|
|||||||
Multiline Retail — 0.0% (a) |
| |||||||
Target Corp. 2.25%, 4/15/2025 |
15,000 | 15,101 | ||||||
|
|
|||||||
Multi-Utilities — 0.2% |
| |||||||
Delmarva Power & Light Co. 3.50%, 11/15/2023 |
17,000 | 17,427 | ||||||
Dominion Energy, Inc. 3.07%, 8/15/2024 (c) |
24,000 | 24,454 | ||||||
(ICE LIBOR USD 3 Month + 3.06%), 5.75%, 10/1/2054 (b) |
4,000 | 4,087 | ||||||
DTE Energy Co. 2.85%, 10/1/2026 |
3,000 | 3,030 | ||||||
NiSource, Inc. 0.95%, 8/15/2025 |
10,000 | 9,456 | ||||||
|
|
|||||||
58,454 | ||||||||
|
|
|||||||
Oil, Gas & Consumable Fuels — 1.5% |
| |||||||
BP Capital Markets America, Inc. |
||||||||
2.75%, 5/10/2023 |
75,000 | 75,904 | ||||||
3.79%, 2/6/2024 |
1,000 | 1,032 | ||||||
3.41%, 2/11/2026 |
12,000 | 12,431 | ||||||
BP Capital Markets plc (United Kingdom) 3.99%, 9/26/2023 |
3,000 | 3,097 | ||||||
Canadian Natural Resources Ltd. (Canada) |
||||||||
3.90%, 2/1/2025 |
16,000 | 16,636 | ||||||
2.05%, 7/15/2025 |
3,000 | 2,955 | ||||||
Cheniere
Corpus Christi Holdings LLC |
10,000 | 10,802 | ||||||
Chevron Corp. 1.14%, 5/11/2023 |
6,000 | 5,978 | ||||||
Chevron USA, Inc. 0.69%, 8/12/2025 |
3,000 | 2,865 | ||||||
ConocoPhillips Co. 3.35%, 11/15/2024 |
2,000 | 2,062 | ||||||
Energy
Transfer LP |
11,000 | 11,368 | ||||||
2.90%, 5/15/2025 |
13,000 | 13,075 | ||||||
4.75%, 1/15/2026 |
7,000 | 7,436 | ||||||
Enterprise Products Operating LLC 3.75%, 2/15/2025 |
45,000 | 46,810 | ||||||
EOG Resources, Inc. 2.63%, 3/15/2023 |
9,000 | 9,072 | ||||||
Equinor ASA (Norway) 1.75%, 1/22/2026 |
57,000 | 55,929 | ||||||
Exxon Mobil Corp. |
||||||||
2.73%, 3/1/2023 |
20,000 | 20,238 | ||||||
3.18%, 3/15/2024 |
25,000 | 25,691 | ||||||
3.04%, 3/1/2026 |
9,000 | 9,315 | ||||||
Kinder Morgan Energy Partners LP 4.15%, 2/1/2024 |
19,000 | 19,610 | ||||||
Marathon Petroleum Corp. 4.70%, 5/1/2025 |
6,000 | 6,377 | ||||||
MPLX LP 4.88%, 12/1/2024 |
23,000 | 24,372 | ||||||
ONEOK, Inc. 2.20%, 9/15/2025 |
30,000 | 29,607 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Oil, Gas & Consumable Fuels — continued |
| |||||||
Ovintiv Exploration, Inc. 5.38%, 1/1/2026 |
5,000 | 5,405 | ||||||
Petroleos Mexicanos (Mexico) 6.84%, 1/23/2030 (e) |
1 | 1 | ||||||
Phillips 66 1.30%, 2/15/2026 |
10,000 | 9,542 | ||||||
Pioneer
Natural Resources Co. |
15,000 | 14,274 | ||||||
Sabine
Pass Liquefaction LLC |
23,000 | 24,832 | ||||||
Spectra
Energy Partners LP |
4,000 | 4,184 | ||||||
TotalEnergies Capital International SA (France) 2.43%, 1/10/2025 |
3,000 | 3,025 | ||||||
Williams Cos., Inc. (The) 4.50%, 11/15/2023 |
34,000 | 35,253 | ||||||
3.90%, 1/15/2025 |
3,000 | 3,115 | ||||||
|
|
|||||||
512,293 | ||||||||
|
|
|||||||
Paper & Forest Products — 0.1% |
| |||||||
Fibria
Overseas Finance Ltd. (Brazil) |
9,000 | 9,246 | ||||||
5.50%, 1/17/2027 |
6,000 | 6,452 | ||||||
Georgia-Pacific LLC 8.00%, 1/15/2024 |
17,000 | 18,907 | ||||||
|
|
|||||||
34,605 | ||||||||
|
|
|||||||
Personal Products — 0.0% (a) |
| |||||||
Estee
Lauder Cos., Inc. (The) |
15,000 | 15,066 | ||||||
|
|
|||||||
Pharmaceuticals — 0.7% |
| |||||||
AstraZeneca
plc (United Kingdom) |
3,000 | 3,125 | ||||||
Bristol-Myers
Squibb Co. |
15,000 | 15,405 | ||||||
2.90%, 7/26/2024 |
9,000 | 9,215 | ||||||
3.88%, 8/15/2025 |
8,000 | 8,438 | ||||||
0.75%, 11/13/2025 |
11,000 | 10,438 | ||||||
Eli Lilly & Co. 2.75%, 6/1/2025 |
15,000 | 15,310 | ||||||
GlaxoSmithKline Capital plc (United Kingdom) 3.00%, 6/1/2024 |
4,000 | 4,090 | ||||||
Johnson &
Johnson |
26,000 | 26,917 | ||||||
0.55%, 9/1/2025 |
75,000 | 71,413 | ||||||
Merck & Co., Inc. 2.75%, 2/10/2025 |
27,000 | 27,621 | ||||||
Mylan, Inc. 4.20%, 11/29/2023 |
13,000 | 13,369 | ||||||
Novartis
Capital Corp. (Switzerland) |
2,000 | 1,988 | ||||||
Pfizer, Inc. |
||||||||
3.40%, 5/15/2024 |
15,000 | 15,536 | ||||||
2.75%, 6/3/2026 |
5,000 | 5,139 | ||||||
|
|
|||||||
228,004 | ||||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
36 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Road & Rail — 0.3% |
| |||||||
BNSF Funding Trust I (ICE LIBOR USD 3 Month + 2.35%), 6.61%, 12/15/2055 (b) |
1,000 | 1,078 | ||||||
Burlington
Northern Santa Fe LLC |
29,000 | 29,664 | ||||||
3.65%, 9/1/2025 |
8,000 | 8,362 | ||||||
JB
Hunt Transport Services, Inc. |
5,000 | 5,270 | ||||||
Norfolk Southern Corp. 3.85%, 1/15/2024 |
2,000 | 2,063 | ||||||
Ryder
System, Inc. |
37,000 | 37,818 | ||||||
4.63%, 6/1/2025 |
8,000 | 8,511 | ||||||
Union Pacific Corp. 2.15%, 2/5/2027 |
4,000 | 3,958 | ||||||
|
|
|||||||
96,724 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment — 0.7% |
| |||||||
Broadcom, Inc. 3.63%, 10/15/2024 |
10,000 | 10,294 | ||||||
Intel
Corp. |
7,000 | 7,085 | ||||||
3.40%, 3/25/2025 |
2,000 | 2,072 | ||||||
NXP BV (China) 4.88%, 3/1/2024 (d) |
2,000 | 2,098 | ||||||
QUALCOMM, Inc. 2.60%, 1/30/2023 |
31,000 | 31,348 | ||||||
Texas Instruments, Inc. 1.38%, 3/12/2025 |
6,000 | 5,899 | ||||||
TSMC
Arizona Corp. (Taiwan) |
200,000 | 193,817 | ||||||
|
|
|||||||
252,613 | ||||||||
|
|
|||||||
Software — 0.4% |
| |||||||
Adobe, Inc. 1.90%, 2/1/2025 |
7,000 | 7,002 | ||||||
Microsoft Corp. 2.70%, 2/12/2025 |
15,000 | 15,389 | ||||||
Oracle
Corp. |
107,000 | 107,773 | ||||||
1.65%, 3/25/2026 |
14,000 | 13,409 | ||||||
|
|
|||||||
143,573 | ||||||||
|
|
|||||||
Specialty Retail — 0.1% |
| |||||||
Home
Depot, Inc. (The) |
2,000 | 2,022 | ||||||
3.35%, 9/15/2025 |
5,000 | 5,197 | ||||||
Lowe’s
Cos., Inc. |
30,000 | 30,709 | ||||||
3.38%, 9/15/2025 |
6,000 | 6,222 | ||||||
|
|
|||||||
44,150 | ||||||||
|
|
|||||||
Technology Hardware, Storage & Peripherals — 0.4% |
| |||||||
Apple, Inc. |
||||||||
2.40%, 5/3/2023 |
7,000 | 7,086 | ||||||
0.75%, 5/11/2023 |
13,000 | 12,915 | ||||||
3.45%, 5/6/2024 |
10,000 | 10,361 | ||||||
2.75%, 1/13/2025 |
10,000 | 10,245 | ||||||
2.50%, 2/9/2025 |
2,000 | 2,036 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Technology Hardware, Storage & Peripherals — continued |
| |||||||
Dell International LLC |
||||||||
4.00%, 7/15/2024 |
15,000 | 15,565 | ||||||
5.85%, 7/15/2025 |
14,000 | 15,387 | ||||||
Hewlett Packard Enterprise Co. |
||||||||
1.45%, 4/1/2024 |
16,000 | 15,752 | ||||||
1.75%, 4/1/2026 |
14,000 | 13,516 | ||||||
HP, Inc. |
||||||||
2.20%, 6/17/2025 |
38,000 | 37,759 | ||||||
1.45%, 6/17/2026 |
2,000 | 1,897 | ||||||
|
|
|||||||
142,519 | ||||||||
|
|
|||||||
Textiles, Apparel & Luxury Goods — 0.1% |
| |||||||
NIKE, Inc. 2.40%, 3/27/2025 |
20,000 | 20,287 | ||||||
|
|
|||||||
Tobacco — 0.1% |
| |||||||
Altria Group, Inc. 2.63%, 9/16/2026 |
2,000 | 1,997 | ||||||
BAT Capital Corp. (United Kingdom) |
||||||||
2.79%, 9/6/2024 |
19,000 | 19,120 | ||||||
3.22%, 9/6/2026 |
2,000 | 2,002 | ||||||
Philip Morris International, Inc. |
||||||||
2.63%, 3/6/2023 |
9,000 | 9,098 | ||||||
1.50%, 5/1/2025 |
3,000 | 2,927 | ||||||
Reynolds American, Inc. (United Kingdom) 4.45%, 6/12/2025 |
11,000 | 11,517 | ||||||
|
|
|||||||
46,661 | ||||||||
|
|
|||||||
Trading Companies & Distributors — 0.6% |
| |||||||
Air
Lease Corp. |
2,000 | 1,901 | ||||||
BOC
Aviation Ltd. (Singapore) |
200,000 | 200,281 | ||||||
|
|
|||||||
202,182 | ||||||||
|
|
|||||||
Water Utilities — 0.0% (a) |
| |||||||
American Water Capital Corp. 3.40%, 3/1/2025 |
2,000 | 2,060 | ||||||
|
|
|||||||
Wireless Telecommunication Services — 0.0% (a) |
| |||||||
Vodafone Group plc (United Kingdom) 4.13%, 5/30/2025 |
7,000 | 7,361 | ||||||
|
|
|||||||
Total
Corporate Bonds |
|
8,643,798 | ||||||
|
|
|||||||
Mortgage-Backed Securities — 8.7% |
| |||||||
FHLMC Gold Pools, 15 Year |
||||||||
Pool # J14776, 3.00%, 3/1/2026 |
8,227 | 8,454 | ||||||
Pool # G18452, 2.50%, 12/1/2027 |
22,318 | 22,653 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 37 |
JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities — continued |
||||||||
Pool # G18511, 2.50%, 5/1/2029 |
2,129 | 2,161 | ||||||
Pool # G18549, 2.50%, 4/1/2030 |
19,970 | 20,271 | ||||||
Pool # G15520, 3.00%, 7/1/2030 |
9,910 | 10,217 | ||||||
Pool # G18568, 2.50%, 9/1/2030 |
9,576 | 9,720 | ||||||
Pool # J33012, 3.00%, 10/1/2030 |
25,184 | 26,016 | ||||||
Pool # G18600, 2.50%, 5/1/2031 |
7,004 | 7,110 | ||||||
Pool # G16028, 3.00%, 8/1/2031 |
5,759 | 5,948 | ||||||
Pool # J35495, 2.50%, 10/1/2031 |
14,094 | 14,327 | ||||||
Pool # G18626, 2.50%, 1/1/2032 |
31,579 | 32,056 | ||||||
Pool # G18632, 3.00%, 2/1/2032 |
7,319 | 7,559 | ||||||
Pool # J37147, 3.00%, 6/1/2032 |
8,367 | 8,628 | ||||||
Pool # G16207, 3.50%, 7/1/2032 |
7,801 | 8,188 | ||||||
Pool # G18715, 3.00%, 12/1/2033 |
5,134 | 5,300 | ||||||
FHLMC UMBS, 15 Year |
||||||||
Pool # ZS8617, 2.50%, 8/1/2031 |
15,437 | 15,635 | ||||||
Pool # ZS7938, 2.50%, 1/1/2033 |
2,157 | 2,193 | ||||||
Pool # ZS7988, 3.50%, 2/1/2033 |
10,909 | 11,416 | ||||||
Pool # ZK9341, 3.00%, 3/1/2033 |
2,769 | 2,857 | ||||||
Pool # ZT0716, 3.00%, 10/1/2033 |
2,756 | 2,843 | ||||||
Pool # SB0194, 2.50%, 12/1/2033 |
5,819 | 5,902 | ||||||
Pool # SB0109, 2.50%, 11/1/2034 |
25,272 | 25,666 | ||||||
Pool # SB8021, 3.00%, 12/1/2034 |
5,004 | 5,137 | ||||||
Pool # SB0264, 2.50%, 2/1/2035 |
12,676 | 12,882 | ||||||
Pool # QN2057, 3.00%, 5/1/2035 |
14,233 | 14,767 | ||||||
Pool # SB0345, 2.00%, 6/1/2035 |
78,456 | 77,979 | ||||||
Pool # SB0401, 2.00%, 7/1/2035 |
20,564 | 20,439 | ||||||
Pool # SB0394, 2.50%, 7/1/2035 |
11,344 | 11,495 | ||||||
Pool # SB8501, 2.00%, 8/1/2035 |
54,426 | 54,143 | ||||||
Pool # SB0406, 2.50%, 8/1/2035 |
21,329 | 21,665 | ||||||
Pool # SB8058, 2.50%, 8/1/2035 |
26,791 | 27,134 | ||||||
Pool # RC1591, 1.50%, 10/1/2035 |
63,773 | 62,119 | ||||||
Pool # QN4391, 1.50%, 11/1/2035 |
65,726 | 64,041 | ||||||
Pool # QN4278, 2.00%, 11/1/2035 |
8,124 | 8,074 | ||||||
Pool # QN4490, 1.50%, 12/1/2035 |
93,018 | 90,636 | ||||||
Pool # SB0450, 2.00%, 12/1/2035 |
47,781 | 47,490 | ||||||
Pool # QN4861, 1.50%, 1/1/2036 |
71,892 | 70,050 | ||||||
Pool # SB8088, 1.50%, 2/1/2036 |
16,409 | 15,989 | ||||||
Pool # SB8102, 1.50%, 5/1/2036 |
28,864 | 28,125 | ||||||
Pool # RC2089, 2.00%, 7/1/2036 |
78,856 | 78,405 | ||||||
Pool # SB8118, 1.50%, 9/1/2036 |
61,690 | 60,110 | ||||||
Pool # SB8127, 1.50%, 11/1/2036 |
77,629 | 75,639 | ||||||
FNMA UMBS, 15 Year |
||||||||
Pool # AK3264, 3.00%, 2/1/2027 |
5,030 | 5,177 | ||||||
Pool # AV4793, 3.50%, 5/1/2029 |
8,367 | 8,650 | ||||||
Pool # AW3641, 3.00%, 6/1/2029 |
10,010 | 10,306 | ||||||
Pool # AS4489, 2.50%, 3/1/2030 |
2,289 | 2,326 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Pool # AL6583, 3.00%, 3/1/2030 |
4,813 | 4,971 | ||||||
Pool # AS4860, 2.50%, 5/1/2030 |
16,895 | 17,154 | ||||||
Pool # AL9852, 3.00%, 9/1/2030 |
13,814 | 14,245 | ||||||
Pool # AS7467, 2.50%, 7/1/2031 |
7,534 | 7,643 | ||||||
Pool # AS7606, 2.50%, 7/1/2031 |
26,853 | 27,273 | ||||||
Pool # AS7620, 2.50%, 7/1/2031 |
39,368 | 39,963 | ||||||
Pool # AS7657, 2.50%, 8/1/2031 |
13,873 | 14,056 | ||||||
Pool # FM6169, 3.50%, 5/1/2032 |
66,736 | 68,944 | ||||||
Pool # 890822, 3.00%, 12/1/2032 |
44,219 | 45,642 | ||||||
Pool # BM3276, 3.50%, 12/1/2032 |
9,753 | 10,145 | ||||||
Pool # CA1089, 3.00%, 2/1/2033 |
8,229 | 8,516 | ||||||
Pool # FM3937, 3.00%, 4/1/2033 |
9,138 | 9,430 | ||||||
Pool # FM4036, 2.50%, 12/1/2033 |
10,079 | 10,222 | ||||||
Pool # BN3975, 3.00%, 1/1/2034 |
1,054 | 1,087 | ||||||
Pool # MA3631, 3.00%, 4/1/2034 |
9,325 | 9,610 | ||||||
Pool # MA3709, 2.50%, 6/1/2034 |
5,614 | 5,691 | ||||||
Pool # BJ5549, 3.00%, 8/1/2034 |
3,018 | 3,111 | ||||||
Pool # FM2403, 3.50%, 9/1/2034 |
9,275 | 9,669 | ||||||
Pool # FM5400, 2.50%, 10/1/2034 |
13,395 | 13,608 | ||||||
Pool # BO4944, 2.50%, 11/1/2034 |
30,956 | 31,444 | ||||||
Pool # MA3828, 3.00%, 11/1/2034 |
8,662 | 8,923 | ||||||
Pool # FM4671, 3.50%, 1/1/2035 |
2,863 | 2,993 | ||||||
Pool # BP5762, 2.50%, 6/1/2035 |
39,034 | 39,556 | ||||||
Pool # FM3654, 3.00%, 6/1/2035 |
26,113 | 26,796 | ||||||
Pool # FM3936, 2.50%, 8/1/2035 |
6,162 | 6,241 | ||||||
Pool # MA4154, 1.50%, 10/1/2035 |
41,901 | 40,816 | ||||||
Pool # CA7497, 2.50%, 10/1/2035 |
10,823 | 10,988 | ||||||
Pool # FM4850, 2.00%, 11/1/2035 |
37,516 | 37,317 | ||||||
Pool # FM5396, 2.00%, 12/1/2035 |
55,552 | 55,293 | ||||||
Pool # CA8788, 2.00%, 1/1/2036 |
76,557 | 76,091 | ||||||
Pool # FM6510, 2.00%, 3/1/2036 |
37,335 | 37,162 | ||||||
Pool # FM6512, 2.00%, 3/1/2036 |
39,579 | 39,372 | ||||||
Pool # MA4298, 2.50%, 3/1/2036 |
22,400 | 22,790 | ||||||
Pool # CB0302, 1.50%, 5/1/2036 |
58,871 | 57,362 | ||||||
Pool # FM7113, 2.00%, 5/1/2036 |
45,151 | 44,893 | ||||||
Pool # MA4329, 2.00%, 5/1/2036 |
70,383 | 69,955 | ||||||
Pool # BP3507, 2.00%, 6/1/2036 |
69,707 | 69,283 | ||||||
Pool # CB0747, 2.50%, 6/1/2036 |
11,616 | 11,799 | ||||||
Pool # MA4361, 2.50%, 6/1/2036 |
15,674 | 15,885 | ||||||
Pool # MA4383, 2.00%, 7/1/2036 |
205,190 | 203,941 | ||||||
Pool # MA4384, 2.50%, 7/1/2036 |
16,223 | 16,430 | ||||||
Pool # FM9020, 2.00%, 9/1/2036 |
28,547 | 28,385 | ||||||
Pool # FM9367, 1.50%, 11/1/2036 |
53,314 | 51,933 | ||||||
Pool # MA4470, 2.00%, 11/1/2036 |
38,625 | 38,390 | ||||||
Pool # MA4497, 2.00%, 12/1/2036 |
37,058 | 36,832 |
SEE NOTES TO FINANCIAL STATEMENTS.
38 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities — continued |
||||||||
FNMA/FHLMC UMBS, Single Family, 15 Year |
||||||||
TBA, 2.50%, 4/25/2036 (f) |
110,000 | 111,048 | ||||||
TBA, 1.50%, 3/25/2037 (f) |
108,000 | 105,089 | ||||||
TBA, 2.00%, 3/25/2037 (f) |
130,000 | 129,035 | ||||||
TBA, 3.00%, 3/25/2037 (f) |
120,000 | 123,024 | ||||||
GNMA II, 15 Year |
||||||||
Pool # MA4559, 3.00%, 7/20/2032 |
7,069 | 7,271 | ||||||
Pool # MA7107, 2.50%, 1/20/2036 |
24,165 | 24,661 | ||||||
|
|
|||||||
Total
Mortgage-Backed Securities |
|
3,029,876 | ||||||
|
|
|||||||
Supranational — 2.9% |
| |||||||
African Development Bank (Supranational) |
||||||||
3.00%, 9/20/2023 |
51,000 | 52,248 | ||||||
0.88%, 7/22/2026 |
53,000 | 50,969 | ||||||
Asian Development Bank (Supranational) |
||||||||
0.25%, 7/14/2023 |
1,000 | 986 | ||||||
0.38%, 6/11/2024 |
200,000 | 194,648 | ||||||
1.50%, 10/18/2024 |
9,000 | 8,975 | ||||||
2.00%, 1/22/2025 |
23,000 | 23,221 | ||||||
0.38%, 9/3/2025 |
13,000 | 12,379 | ||||||
1.00%, 4/14/2026 |
52,000 | 50,251 | ||||||
1.50%, 1/20/2027 |
58,000 | 57,114 | ||||||
Asian Infrastructure Investment Bank (The) (Supranational) |
||||||||
2.25%, 5/16/2024 |
94,000 | 95,397 | ||||||
0.50%, 5/28/2025 |
60,000 | 57,581 | ||||||
European Bank for Reconstruction & Development (Supranational) |
||||||||
1.50%, 2/13/2025 |
5,000 | 4,971 | ||||||
0.50%, 11/25/2025 |
19,000 | 18,095 | ||||||
0.50%, 1/28/2026 |
8,000 | 7,597 | ||||||
European Investment Bank (Supranational) |
||||||||
2.50%, 3/15/2023 |
2,000 | 2,028 | ||||||
3.13%, 12/14/2023 |
24,000 | 24,714 | ||||||
2.50%, 10/15/2024 |
2,000 | 2,046 | ||||||
1.63%, 3/14/2025 |
61,000 | 60,875 | ||||||
0.38%, 3/26/2026 |
13,000 | 12,273 | ||||||
Inter-American Development Bank (Supranational) |
||||||||
0.50%, 5/24/2023 |
17,000 | 16,849 | ||||||
0.50%, 9/23/2024 |
44,000 | 42,781 | ||||||
0.63%, 7/15/2025 |
57,000 | 54,880 | ||||||
0.88%, 4/20/2026 |
14,000 | 13,463 | ||||||
International Bank for Reconstruction & Development (Supranational) |
||||||||
2.50%, 11/25/2024 |
15,000 | 15,352 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
2.13%, 3/3/2025 |
6,000 | 6,077 | ||||||
0.63%, 4/22/2025 |
72,000 | 69,605 | ||||||
2.50%, 7/29/2025 |
34,000 | 34,831 | ||||||
0.50%, 10/28/2025 |
2,000 | 1,909 | ||||||
International Finance Corp. (Supranational) 0.38%, 7/16/2025 |
15,000 | 14,327 | ||||||
|
|
|||||||
Total
Supranational |
|
1,006,442 | ||||||
|
|
|||||||
Commercial Mortgage-Backed Securities — 2.4% |
| |||||||
Benchmark Mortgage Trust |
||||||||
Series 2018-B3, Class A3, 3.75%, 4/10/2051 |
25,000 | 25,773 | ||||||
Series 2019-B12, Class A2, 3.00%, 8/15/2052 |
7,000 | 7,084 | ||||||
CGMS Commercial Mortgage Trust |
||||||||
Series 2017-B1, Class AAB, 3.24%, 8/15/2050 |
16,000 | 16,298 | ||||||
Citigroup Commercial Mortgage Trust |
||||||||
Series 2013-GC17, Class A4, 4.13%, 11/10/2046 |
20,000 | 20,564 | ||||||
Series 2015-GC35, Class AAB, 3.61%, 11/10/2048 |
31,561 | 32,312 | ||||||
Series 2016-C1, Class AAB, 3.00%, 5/10/2049 |
10,009 | 10,167 | ||||||
Series 2020-GC46, Class A2, 2.71%, 2/15/2053 |
20,000 | 20,142 | ||||||
Commercial Mortgage Trust |
||||||||
Series 2013-CR6, Class A4, 3.10%, 3/10/2046 |
15,000 | 15,073 | ||||||
Series 2014-CR16, Class A3, 3.78%, 4/10/2047 |
24,479 | 25,070 | ||||||
Series 2014-LC15, Class A4, 4.01%, 4/10/2047 |
20,000 | 20,537 | ||||||
CSAIL Commercial Mortgage Trust Series 2015-C3, Class A4, 3.72%, 8/15/2048 |
20,000 | 20,633 | ||||||
FHLMC, Multi-Family Structured Pass-Through Certificates |
||||||||
Series K027, Class A2, 2.64%, 1/25/2023 |
26,000 | 26,221 | ||||||
Series K028, Class A2, 3.11%, 2/25/2023 |
49,433 | 50,055 | ||||||
Series K046, Class A2, 3.21%, 3/25/2025 |
26,000 | 26,907 | ||||||
Series K733, Class A2, 3.75%, 8/25/2025 |
30,000 | 31,463 | ||||||
Series K737, Class A1, 2.12%, 6/25/2026 |
57,894 | 58,119 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 39 |
JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Commercial Mortgage-Backed Securities — continued |
| |||||||
FNMA ACES |
||||||||
Series 2017-M10, Class AV2, 2.55%, 7/25/2024 (g) |
13,112 | 13,331 | ||||||
Series 2015-M10, Class A2, 3.09%, 4/25/2027 (g) |
49,078 | 51,321 | ||||||
Series 2019-M9, Class A1, 2.61%, 6/25/2029 |
19,263 | 19,624 | ||||||
GS Mortgage Securities Trust |
||||||||
Series 2014-GC18, Class A4, 4.07%, 1/10/2047 |
30,000 | 30,884 | ||||||
Series 2014-GC18, Class AS, 4.38%, 1/10/2047 |
17,000 | 17,334 | ||||||
JPMBB Commercial Mortgage Securities Trust |
||||||||
Series 2013-C17, Class ASB, 3.71%, 1/15/2047 |
7,650 | 7,785 | ||||||
Series 2014-C19, Class C, 4.66%, 4/15/2047 ‡ (g) |
10,000 | 10,296 | ||||||
Series 2014-C23, Class C, 4.49%, 9/15/2047 ‡ (g) |
20,000 | 20,092 | ||||||
JPMorgan Chase Commercial Mortgage Securities Trust |
||||||||
Series 2013-C10, Class AS, 3.37%, 12/15/2047 ‡ |
20,000 | 20,233 | ||||||
Series 2015-JP1, Class D, 4.22%, 1/15/2049 ‡ (g) |
10,000 | 9,190 | ||||||
Morgan Stanley Bank of America Merrill Lynch Trust |
||||||||
Series 2014-C19, Class A3, 3.25%, 12/15/2047 |
5,552 | 5,640 | ||||||
Series 2015-C25, Class ASB, 3.38%, 10/15/2048 |
30,545 | 31,097 | ||||||
Series 2016-C31, Class A5, 3.10%, 11/15/2049 |
32,000 | 32,485 | ||||||
UBS Commercial Mortgage Trust Series 2018-C13, Class A2, 4.21%, 10/15/2051 |
5,986 | 6,150 | ||||||
UBS-Barclays Commercial Mortgage Trust Series 2013-C6, Class A4, 3.24%, 4/10/2046 |
23,000 | 23,158 | ||||||
Wells Fargo Commercial Mortgage Trust |
||||||||
Series 2012-LC5, Class B, 4.14%, 10/15/2045 ‡ |
14,000 | 14,129 | ||||||
Series 2013-LC12, Class A4, 4.22%, 7/15/2046 (g) |
12,000 | 12,246 | ||||||
Series 2014-LC18, Class A5, 3.41%, 12/15/2047 |
15,000 | 15,228 | ||||||
Series 2015-C31, Class A4, 3.70%, 11/15/2048 |
24,000 | 24,804 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Series 2019-C54, Class A2, 3.01%, 12/15/2052 |
35,000 | 35,472 | ||||||
WFRBS Commercial Mortgage Trust |
||||||||
Series 2012-C10, Class A3, 2.88%, 12/15/2045 |
12,000 | 12,034 | ||||||
Series 2012-C10, Class B, 3.74%, 12/15/2045 ‡ |
15,000 | 14,803 | ||||||
Series 2014-C20, Class A5, 4.00%, 5/15/2047 |
12,000 | 12,347 | ||||||
|
|
|||||||
Total
Commercial Mortgage-backed Securities |
|
846,101 | ||||||
|
|
|||||||
Foreign Government Securities — 1.5% |
| |||||||
Canada Government Bond (Canada) 0.75%, 5/19/2026 |
70,000 | 66,909 | ||||||
Hungary Government Bond (Hungary) |
||||||||
5.38%, 2/21/2023 |
2,000 | 2,065 | ||||||
5.75%, 11/22/2023 |
1,000 | 1,057 | ||||||
Italian Republic Government Bond (Italy) 6.88%, 9/27/2023 |
70,000 | 75,453 | ||||||
Oriental Republic of Uruguay (Uruguay) |
||||||||
8.00%, 11/18/2022 |
333 | 346 | ||||||
4.50%, 8/14/2024 |
1,000 | 1,038 | ||||||
Province of Alberta (Canada) 1.00%, 5/20/2025 |
25,000 | 24,326 | ||||||
Province of British Columbia (Canada) 0.90%, 7/20/2026 |
13,000 | 12,484 | ||||||
Province of Manitoba (Canada) 2.13%, 6/22/2026 |
3,000 | 3,012 | ||||||
Province of Ontario (Canada) |
|
|||||||
3.05%, 1/29/2024 |
10,000 | 10,280 | ||||||
3.20%, 5/16/2024 |
10,000 | 10,336 | ||||||
0.63%, 1/21/2026 |
82,000 | 77,907 | ||||||
Province of Quebec (Canada) |
|
|||||||
7.50%, 7/15/2023 |
11,000 | 11,894 | ||||||
2.50%, 4/9/2024 |
10,000 | 10,181 | ||||||
2.88%, 10/16/2024 |
6,000 | 6,180 | ||||||
1.50%, 2/11/2025 |
10,000 | 9,925 | ||||||
Republic of Peru (Peru) 2.39%, 1/23/2026 |
23,000 | 22,514 | ||||||
Republic of Philippines (Philippines) 10.63%, 3/16/2025 |
1,000 | 1,248 | ||||||
Republic of Poland (Poland) 3.00%, 3/17/2023 |
1,000 | 1,010 | ||||||
Svensk Exportkredit AB (Sweden) 0.38%, 7/30/2024 |
200,000 | 194,137 | ||||||
|
|
|||||||
Total
Foreign Government Securities |
|
542,302 | ||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
40 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
U.S. Government Agency Securities — 1.5% |
| |||||||
FFCB Funding Corp. |
|
|||||||
0.38%, 4/8/2022 |
21,000 | 20,999 | ||||||
0.13%, 11/23/2022 |
39,000 | 38,799 | ||||||
0.13%, 5/10/2023 |
74,000 | 73,047 | ||||||
FHLB |
|
|||||||
0.75%, 11/22/2023 |
130,000 | 128,222 | ||||||
0.50%, 4/14/2025 |
85,000 | 81,866 | ||||||
0.75%, 2/24/2026 |
70,000 | 66,840 | ||||||
FNMA |
|
|||||||
1.63%, 1/7/2025 |
8,000 | 7,989 | ||||||
0.63%, 4/22/2025 |
35,000 | 33,847 | ||||||
0.88%, 12/18/2026 |
10,000 | 9,472 | ||||||
Israel Government AID Bond (Israel) |
|
|||||||
5.50%, 9/18/2023 |
45,000 | 47,793 | ||||||
5.50%, 4/26/2024 |
15,000 | 16,230 | ||||||
|
|
|||||||
Total
U.S. Government Agency Securities |
|
525,104 | ||||||
|
|
|||||||
Asset-Backed Securities — 0.7% |
| |||||||
American Express Credit Account Master Trust Series 2017-7, Class A, 2.35%, 5/15/2025 |
30,000 | 30,267 | ||||||
AmeriCredit Automobile Receivables Trust Series 2020-3, Class B, 0.76%, 12/18/2025 |
30,000 | 29,690 | ||||||
CarMax Auto Owner Trust Series 2021-1, Class A3, 0.34%, 12/15/2025 |
25,000 | 24,620 | ||||||
Citibank Credit Card Issuance Trust Series 2018-A3, Class A3, 3.29%, 5/23/2025 |
33,000 | 33,747 | ||||||
Drive Auto Receivables Trust Series 2021-2, Class B, 0.58%, 12/15/2025 |
40,000 | 39,386 | ||||||
Exeter Automobile Receivables Trust Series 2021-3A, Class C, 0.96%, 10/15/2026 |
40,000 | 39,093 | ||||||
Ford Credit Floorplan Master Owner Trust A |
||||||||
Series 2018-2, Class A, 3.17%, 3/15/2025 |
15,000 | 15,260 | ||||||
Series 2019-2, Class A, 3.06%, 4/15/2026 |
8,000 | 8,193 | ||||||
GM Financial Consumer Automobile Receivables Trust Series 2020-2, Class A4, 1.74%, 8/18/2025 |
22,000 | 22,023 | ||||||
Verizon Owner Trust Series 2020-A, Class A1A, 1.85%, 7/22/2024 |
17,918 | 17,983 | ||||||
|
|
|||||||
Total
Asset-Backed Securities |
|
260,262 | ||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds — 0.1% (h) |
| |||||||
California — 0.1% |
| |||||||
University of California, Taxable Series 2020BG, Rev., 0.88%, 5/15/2025 |
5,000 | 4,838 | ||||||
University of California, Taxable Fixed Rate Notes Series 2017AX, Rev., 3.06%, 7/1/2025 |
5,000 | 5,156 | ||||||
|
|
|||||||
Total California |
9,994 | |||||||
|
|
|||||||
New Jersey — 0.0% (a) |
| |||||||
New Jersey Economic Development Authority Series 1997B, Rev., AGM, Zero Coupon, 2/15/2023 |
1,000 | 989 | ||||||
|
|
|||||||
New York — 0.0% (a) |
| |||||||
Port Authority of New York and New Jersey, Consolidated Series AAA, Rev., 1.09%, 7/1/2023 |
10,000 | 9,964 | ||||||
|
|
|||||||
Total
Municipal Bonds |
|
20,947 | ||||||
|
|
|||||||
SHARES | ||||||||
Short-Term Investments — 1.7% |
| |||||||
Investment Companies — 1.7% |
| |||||||
JPMorgan
U.S. Government Money Market Fund Class IM Shares,
0.03% (i) (j) |
601,648 | 601,648 | ||||||
|
|
|||||||
Total
Investments — 101.0% |
|
35,253,230 | ||||||
Liabilities
in Excess of |
|
(360,335) | ||||||
|
|
|||||||
NET ASSETS — 100.0% |
|
34,892,895 | ||||||
|
|
Percentages indicated are based on net assets.
Abbreviations
ACES | Alternative Credit Enhancement Securities | |
AGM | Insured by Assured Guaranty Municipal Corp. | |
FFCB | Federal Farm Credit Bank | |
FHLB | Federal Home Loan Bank | |
FHLMC | Federal Home Loan Mortgage Corp. | |
FNMA | Federal National Mortgage Association | |
GNMA | Government National Mortgage Association | |
ICE | Intercontinental Exchange | |
LIBOR | London Interbank Offered Rate | |
Rev. | Revenue | |
SOFR | Secured Overnight Financing Rate | |
TBA | To Be Announced; Security is subject to delayed delivery. | |
UMBS | Uniform Mortgage-Backed Securities | |
USD | United States Dollar |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 41 |
JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
(a) |
Amount rounds to less than 0.1% of net assets. | |
(b) |
Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of February 28, 2022. | |
(c) |
Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future contingent upon a predetermined trigger. The interest rate shown is the current rate as of February 28, 2022. | |
(d) |
Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. | |
(e) |
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. | |
(f) |
All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment. | |
(g) |
Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of February 28, 2022. | |
(h) |
The date shown represents the earliest of the prerefunded date, next put date or final maturity date. | |
(i) |
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. | |
(j) |
The rate shown is the current yield as of February 28, 2022. | |
‡ |
Value determined using significant unobservable inputs. |
SEE NOTES TO FINANCIAL STATEMENTS.
42 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
JPMorgan Core Plus Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — 32.5% |
| |||||||
Aerospace & Defense — 0.6% |
| |||||||
Boeing Co. (The) |
||||||||
1.17%, 2/4/2023 |
20,000 | 19,919 | ||||||
1.95%, 2/1/2024 |
18,000 | 17,928 | ||||||
1.43%, 2/4/2024 |
35,000 | 34,429 | ||||||
2.75%, 2/1/2026 |
20,000 | 20,015 | ||||||
2.20%, 2/4/2026 |
95,000 | 92,692 | ||||||
3.10%, 5/1/2026 |
35,000 | 35,306 | ||||||
2.70%, 2/1/2027 |
65,000 | 64,169 | ||||||
3.95%, 8/1/2059 |
125,000 | 113,515 | ||||||
5.93%, 5/1/2060 |
40,000 | 47,497 | ||||||
Bombardier,
Inc. (Canada) |
85,000 | 81,176 | ||||||
BWX
Technologies, Inc. |
75,000 | 72,750 | ||||||
Howmet
Aerospace, Inc. |
142,000 | 149,401 | ||||||
5.95%, 2/1/2037 |
14,000 | 15,489 | ||||||
Moog, Inc. 4.25%, 12/15/2027 (a) |
20,000 | 19,607 | ||||||
Precision Castparts Corp. 4.38%, 6/15/2045 |
54,000 | 61,821 | ||||||
Raytheon
Technologies Corp. |
95,000 | 90,177 | ||||||
4.50%, 6/1/2042 |
40,000 | 44,735 | ||||||
3.13%, 7/1/2050 |
125,000 | 114,380 | ||||||
3.03%, 3/15/2052 |
390,000 | 349,529 | ||||||
Spirit AeroSystems, Inc. 7.50%, 4/15/2025 (a) |
105,000 | 109,095 | ||||||
TransDigm, Inc. 6.25%, 3/15/2026 (a) |
140,000 | 144,025 | ||||||
Triumph
Group, Inc. |
10,000 | 9,925 | ||||||
7.75%, 8/15/2025 |
16,000 | 16,060 | ||||||
|
|
|||||||
1,723,640 | ||||||||
|
|
|||||||
Airlines — 0.1% |
| |||||||
American Airlines, Inc. 5.50%, 4/20/2026 (a) |
125,000 | 127,943 | ||||||
Continental
Airlines Pass-Through Trust Series 2012-2, Class A Shares, |
30,661 | 31,207 | ||||||
Delta Air Lines, Inc. 4.75%, 10/20/2028 (a) |
100,000 | 104,293 | ||||||
United
Airlines Holdings, Inc. |
20,000 | 20,200 | ||||||
4.88%, 1/15/2025 |
16,000 | 15,920 | ||||||
|
|
|||||||
299,563 | ||||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Auto Components — 0.3% |
| |||||||
Adient Global Holdings Ltd. 4.88%, 8/15/2026 (a) |
200,000 | 200,250 | ||||||
Allison
Transmission, Inc. |
75,000 | 69,656 | ||||||
American
Axle & Manufacturing, Inc. |
75,000 | 71,123 | ||||||
Aptiv plc 5.40%, 3/15/2049 |
25,000 | 29,356 | ||||||
Clarios Global LP 6.25%, 5/15/2026 (a) |
67,000 | 69,308 | ||||||
Cooper-Standard
Automotive, Inc. |
5,000 | 5,263 | ||||||
5.63%, 11/15/2026 (a) |
30,000 | 20,625 | ||||||
Dana,
Inc. |
60,000 | 61,200 | ||||||
4.50%, 2/15/2032 |
40,000 | 37,550 | ||||||
Goodyear
Tire & Rubber Co. (The) |
19,000 | 19,071 | ||||||
5.00%, 7/15/2029 (a) |
130,000 | 128,180 | ||||||
Icahn
Enterprises LP |
22,000 | 22,175 | ||||||
5.25%, 5/15/2027 |
125,000 | 124,125 | ||||||
Lear
Corp. |
10,000 | 9,267 | ||||||
5.25%, 5/15/2049 |
25,000 | 28,054 | ||||||
|
|
|||||||
895,203 | ||||||||
|
|
|||||||
Automobiles — 0.3% |
| |||||||
Ford Motor Co. 9.63%, 4/22/2030 |
120,000 | 164,893 | ||||||
General
Motors Co. |
50,000 | 55,326 | ||||||
5.15%, 4/1/2038 |
35,000 | 37,898 | ||||||
5.95%, 4/1/2049 |
25,000 | 29,874 | ||||||
Hyundai
Capital America |
40,000 | 37,685 | ||||||
3.00%, 2/10/2027 (a) |
200,000 | 199,645 | ||||||
Nissan
Motor Co. Ltd. (Japan) |
200,000 | 205,888 | ||||||
|
|
|||||||
731,209 | ||||||||
|
|
|||||||
Banks — 5.0% |
| |||||||
ABN AMRO Bank NV (Netherlands) |
||||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 2.47%, 12/13/2029 (a) (b) |
200,000 | 191,243 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.90%), 3.32%, 3/13/2037 (a) (b) |
200,000 | 186,841 | ||||||
AIB Group plc (Ireland) 4.75%, 10/12/2023 (a) |
200,000 | 207,129 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 43 |
JPMorgan Core Plus Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Banks — continued |
||||||||
ASB
Bank Ltd. (New Zealand) |
200,000 | 188,395 | ||||||
Banco Santander SA (Spain) |
||||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.90%), 1.72%, 9/14/2027 (b) |
200,000 | 189,114 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.60%), 3.22%, 11/22/2032 (b) |
200,000 | 185,472 | ||||||
Bank of America Corp. |
||||||||
3.88%, 8/1/2025 |
203,000 | 212,449 | ||||||
(ICE LIBOR USD 3 Month + 1.06%), 3.56%, 4/23/2027 (b) |
40,000 | 41,061 | ||||||
(ICE LIBOR USD 3 Month + 1.58%), 3.82%, 1/20/2028 (b) |
236,000 | 245,719 | ||||||
(ICE LIBOR USD 3 Month + 1.51%), 3.71%, 4/24/2028 (b) |
170,000 | 176,092 | ||||||
(ICE LIBOR USD 3 Month + 1.37%), 3.59%, 7/21/2028 (b) |
61,000 | 62,996 | ||||||
(ICE LIBOR USD 3 Month + 1.04%), 3.42%, 12/20/2028 (b) |
219,000 | 223,892 | ||||||
(SOFR + 1.06%), 2.09%, 6/14/2029 (b) |
135,000 | 127,640 | ||||||
(SOFR + 1.53%), 1.90%, 7/23/2031 (b) |
510,000 | 460,983 | ||||||
(SOFR + 1.37%), 1.92%, 10/24/2031 (b) |
50,000 | 45,267 | ||||||
Series N, (SOFR + 1.22%), 2.65%, 3/11/2032 (b) |
230,000 | 219,933 | ||||||
(SOFR + 1.32%), 2.69%, 4/22/2032 (b) |
340,000 | 326,997 | ||||||
(SOFR + 1.22%), 2.30%, 7/21/2032 (b) |
95,000 | 88,127 | ||||||
(SOFR + 1.21%), 2.57%, 10/20/2032 (b) |
655,000 | 620,102 | ||||||
(ICE
LIBOR USD 3 Month + 1.32%), |
112,000 | 117,157 | ||||||
(SOFR + 1.93%), 2.68%, 6/19/2041 (b) |
150,000 | 131,713 | ||||||
Bank of Nova Scotia (The) (Canada) |
||||||||
(ICE LIBOR USD 3 Month + 2.65%), 4.65%, 10/12/2022 (b) (c) (d) |
50,000 | 47,825 | ||||||
2.20%, 2/3/2025 |
12,000 | 11,940 | ||||||
Barclays plc (United Kingdom) |
||||||||
3.65%, 3/16/2025 |
200,000 | 204,963 | ||||||
5.20%, 5/12/2026 |
200,000 | 214,386 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.05%), 2.28%, 11/24/2027 (b) |
200,000 | 192,930 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Banks — continued |
||||||||
BNP Paribas SA (France) |
||||||||
(SOFR + 1.61%), 1.90%, 9/30/2028 (a) (b) |
200,000 | 186,626 | ||||||
(SOFR
+ 1.22%), 2.16%, |
200,000 | 185,164 | ||||||
Canadian Imperial Bank of Commerce (Canada) 3.10%, 4/2/2024 |
34,000 | 34,673 | ||||||
Citigroup, Inc. |
||||||||
(SOFR + 0.69%), 2.01%, 1/25/2026 (b) |
345,000 | 339,568 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.42%), 3.88%, 2/18/2026 (b) (c) (d) |
130,000 | 123,825 | ||||||
(ICE LIBOR USD 3 Month + 1.56%), 3.89%, 1/10/2028 (b) |
350,000 | 365,490 | ||||||
(SOFR + 1.28%), 3.07%, 2/24/2028 (b) |
125,000 | 125,999 | ||||||
(ICE LIBOR USD 3 Month + 1.39%), 3.67%, 7/24/2028 (b) |
80,000 | 82,783 | ||||||
(ICE LIBOR USD 3 Month + 1.19%), 4.07%, 4/23/2029 (b) |
195,000 | 205,174 | ||||||
(SOFR + 1.42%), 2.98%, 11/5/2030 (b) |
25,000 | 24,667 | ||||||
(SOFR + 3.91%), 4.41%, 3/31/2031 (b) |
155,000 | 167,937 | ||||||
(SOFR + 1.17%), 2.56%, 5/1/2032 (b) |
260,000 | 246,754 | ||||||
(SOFR + 1.18%), 2.52%, 11/3/2032 (b) |
60,000 | 56,507 | ||||||
(ICE LIBOR USD 3 Month + 1.84%), 4.28%, 4/24/2048 (b) |
55,000 | 60,334 | ||||||
Citizens
Financial Group, Inc. |
11,000 | 10,530 | ||||||
Credit Agricole SA (France) |
||||||||
(SOFR
+ 1.68%), |
250,000 | 243,279 | ||||||
(SOFR
+ 0.89%), |
250,000 | 235,078 | ||||||
(USD Swap Semi 5 Year + 1.64%), 4.00%, 1/10/2033 (a) (b) |
250,000 | 252,230 | ||||||
First-Citizens
Bank & Trust Co. |
45,000 | 51,450 | ||||||
HSBC Holdings plc (United Kingdom) |
||||||||
(SOFR
+ 1.29%), |
200,000 | 188,564 | ||||||
(SOFR
+ 1.73%), |
200,000 | 187,655 | ||||||
(SOFR
+ 1.29%), 2.21%, |
200,000 | 186,615 | ||||||
7.63%, 5/17/2032 |
143,000 | 186,314 |
SEE NOTES TO FINANCIAL STATEMENTS.
44 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Banks — continued |
||||||||
(SOFR
+ 1.41%), 2.87%, |
250,000 | 237,163 | ||||||
6.10%, 1/14/2042 |
230,000 | 302,361 | ||||||
ING Groep NV (Netherlands) |
||||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.86%), 3.88%, 5/16/2027 (b) (c) (d) |
200,000 | 176,750 | ||||||
Intesa Sanpaolo SpA (Italy) |
||||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.75%), 4.95%, 6/1/2042 (a) (b) |
200,000 | 177,393 | ||||||
KeyCorp 2.25%, 4/6/2027 |
57,000 | 56,111 | ||||||
Mitsubishi
UFJ Financial Group, Inc. (Japan) |
69,000 | 71,766 | ||||||
Mizuho
Financial Group, Inc. (Japan) |
205,000 | 187,496 | ||||||
NatWest Group plc (United Kingdom) |
||||||||
(ICE LIBOR USD 3 Month + 1.91%), 5.08%, 1/27/2030 (b) |
200,000 | 220,461 | ||||||
PNC Financial Services Group, Inc. (The) 2.55%, 1/22/2030 |
99,000 | 97,120 | ||||||
Royal Bank of Canada (Canada) 4.65%, 1/27/2026 |
45,000 | 48,462 | ||||||
Santander UK Group Holdings plc (United Kingdom) |
||||||||
(SOFR + 0.99%), 1.67%, 6/14/2027 (b) |
200,000 | 189,050 | ||||||
(ICE LIBOR USD 3 Month + 1.40%), 3.82%, 11/3/2028 (b) |
200,000 | 205,165 | ||||||
Societe
Generale SA (France) |
200,000 | 204,799 | ||||||
4.75%, 11/24/2025 (a) |
200,000 | 208,508 | ||||||
4.00%, 1/12/2027 (a) |
200,000 | 206,946 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.30%), 2.80%, 1/19/2028 (a) (b) |
200,000 | 194,185 | ||||||
Standard Chartered plc (United Kingdom) |
||||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.78%), 0.99%, 1/12/2025 (a) (b) |
200,000 | 193,924 | ||||||
Sumitomo Mitsui Financial Group, Inc. (Japan) 3.75%, 7/19/2023 |
53,000 | 54,365 | ||||||
Sumitomo
Mitsui Trust Bank Ltd. (Japan) |
60,000 | 56,995 | ||||||
Toronto-Dominion
Bank (The) (Canada) |
33,000 | 33,885 | ||||||
2.65%, 6/12/2024 |
81,000 | 81,975 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Banks — continued |
||||||||
Truist Bank 4.05%, 11/3/2025 |
60,000 | 63,583 | ||||||
UniCredit SpA (Italy) |
||||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.20%), 1.98%, 6/3/2027 (a) (b) |
200,000 | 186,546 | ||||||
US Bancorp 3.00%, 7/30/2029 |
97,000 | 97,923 | ||||||
Wells
Fargo & Co. |
77,000 | 79,645 | ||||||
(ICE LIBOR USD 3 Month + 0.75%), 2.16%, 2/11/2026 (b) |
163,000 | 161,016 | ||||||
3.00%, 10/23/2026 |
285,000 | 288,571 | ||||||
(ICE LIBOR USD 3 Month + 1.31%), 3.58%, 5/22/2028 (b) |
651,000 | 672,217 | ||||||
4.15%, 1/24/2029 |
70,000 | 74,643 | ||||||
(SOFR + 2.53%), 3.07%, 4/30/2041 (b) |
75,000 | 69,670 | ||||||
4.90%, 11/17/2045 |
25,000 | 28,362 | ||||||
Westpac
Banking Corp. (Australia) |
25,000 | 25,649 | ||||||
1.95%, 11/20/2028 |
30,000 | 28,707 | ||||||
(USD ICE Swap Rate 5 Year + 2.24%), 4.32%, 11/23/2031 (b) |
275,000 | 286,470 | ||||||
|
|
|||||||
13,935,464 | ||||||||
|
|
|||||||
Beverages — 0.3% |
| |||||||
Anheuser-Busch
Cos. LLC (Belgium) |
65,000 | 73,448 | ||||||
Anheuser-Busch InBev Worldwide, Inc. (Belgium) |
||||||||
4.75%, 1/23/2029 |
205,000 | 227,563 | ||||||
4.38%, 4/15/2038 |
95,000 | 102,046 | ||||||
4.44%, 10/6/2048 |
40,000 | 42,800 | ||||||
4.60%, 6/1/2060 |
90,000 | 98,370 | ||||||
Coca-Cola Co. (The) 2.60%, 6/1/2050 |
50,000 | 43,862 | ||||||
Coca-Cola
Femsa SAB de CV (Mexico) |
150,000 | 144,245 | ||||||
Constellation Brands, Inc. 4.65%, 11/15/2028 |
45,000 | 49,338 | ||||||
Diageo
Capital plc (United Kingdom) |
30,000 | 32,257 | ||||||
Keurig
Dr Pepper, Inc. |
38,000 | 39,197 | ||||||
4.60%, 5/25/2028 |
50,000 | 54,555 | ||||||
Molson
Coors Beverage Co. |
43,000 | 42,749 | ||||||
|
|
|||||||
950,430 | ||||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 45 |
JPMorgan Core Plus Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Biotechnology — 0.5% |
| |||||||
AbbVie, Inc. |
| |||||||
2.95%, 11/21/2026 |
73,000 | 74,321 | ||||||
3.20%, 11/21/2029 |
91,000 | 92,162 | ||||||
4.05%, 11/21/2039 |
274,000 | 287,600 | ||||||
4.63%, 10/1/2042 |
75,000 | 83,031 | ||||||
Amgen, Inc. |
||||||||
2.20%, 2/21/2027 |
14,000 | 13,813 | ||||||
3.35%, 2/22/2032 |
105,000 | 107,538 | ||||||
3.15%, 2/21/2040 |
27,000 | 25,227 | ||||||
Biogen, Inc. 2.25%, 5/1/2030 |
65,000 | 59,403 | ||||||
Emergent
BioSolutions, Inc. |
100,000 | 89,451 | ||||||
Gilead Sciences, Inc. |
||||||||
2.95%, 3/1/2027 |
195,000 | 198,969 | ||||||
1.65%, 10/1/2030 |
118,000 | 106,913 | ||||||
2.60%, 10/1/2040 |
50,000 | 43,185 | ||||||
Grifols
Escrow Issuer SA (Spain) |
200,000 | 189,000 | ||||||
|
|
|||||||
1,370,613 | ||||||||
|
|
|||||||
Building Products — 0.2% |
| |||||||
Builders FirstSource, Inc. 4.25%, 2/1/2032 (a) |
85,000 | 81,593 | ||||||
Griffon Corp. 5.75%, 3/1/2028 |
100,000 | 99,613 | ||||||
Masco Corp. 1.50%, 2/15/2028 |
25,000 | 22,859 | ||||||
PGT
Innovations, Inc. |
70,000 | 65,787 | ||||||
Standard
Industries, Inc. |
20,000 | 20,126 | ||||||
4.75%, 1/15/2028 (a) |
100,000 | 98,125 | ||||||
Summit
Materials LLC |
65,000 | 65,244 | ||||||
|
|
|||||||
453,347 | ||||||||
|
|
|||||||
Capital Markets — 2.6% |
| |||||||
Ameriprise Financial, Inc. 4.00%, 10/15/2023 |
47,000 | 48,513 | ||||||
Bank
of New York Mellon Corp. (The) |
30,000 | 30,093 | ||||||
Charles
Schwab Corp. (The) |
30,000 | 28,431 | ||||||
2.75%, 10/1/2029 |
46,000 | 45,967 | ||||||
Credit Suisse Group AG (Switzerland) |
||||||||
(SOFR + 0.98%), 1.31%, 2/2/2027 (a) (b) |
250,000 | 231,712 | ||||||
(SOFR + 1.73%), 3.09%, 5/14/2032 (a) (b) |
250,000 | 237,056 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Capital Markets — continued |
||||||||
Credit
Suisse USA, Inc. (Switzerland) |
53,000 | 70,327 | ||||||
Deutsche Bank AG (Germany) |
||||||||
(SOFR + 2.16%), 2.22%, 9/18/2024 (b) |
150,000 | 149,644 | ||||||
Goldman
Sachs Group, Inc. (The) |
280,000 | 287,810 | ||||||
(ICE LIBOR USD 3 Month + 1.20%), 3.27%, 9/29/2025 (b) |
201,000 | 204,459 | ||||||
Series T, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.97%), 3.80%, 5/10/2026 (b) (c) (d) |
30,000 | 28,425 | ||||||
3.50%, 11/16/2026 |
311,000 | 318,432 | ||||||
3.85%, 1/26/2027 |
135,000 | 140,636 | ||||||
(SOFR + 0.80%), 1.43%, 3/9/2027 (b) |
835,000 | 788,828 | ||||||
(SOFR + 1.11%), 2.64%, 2/24/2028 (b) |
150,000 | 147,809 | ||||||
(SOFR
+ 1.28%), |
260,000 | 245,816 | ||||||
(SOFR
+ 1.25%), |
170,000 | 157,584 | ||||||
(SOFR
+ 1.26%), |
395,000 | 374,576 | ||||||
(SOFR
+ 1.41%), |
190,000 | 187,033 | ||||||
(SOFR
+ 1.51%), |
60,000 | 55,947 | ||||||
(SOFR
+ 1.63%), |
18,000 | 17,327 | ||||||
Morgan Stanley |
||||||||
(SOFR
+ 1.15%), |
180,000 | 180,949 | ||||||
3.88%, 1/27/2026 |
245,000 | 255,644 | ||||||
3.13%, 7/27/2026 |
130,000 | 132,516 | ||||||
3.63%, 1/20/2027 |
191,000 | 198,976 | ||||||
(SOFR + 0.88%), 1.59%, 5/4/2027 (b) |
210,000 | 199,717 | ||||||
(SOFR
+ 1.00%), 2.48%, |
74,000 | 72,753 | ||||||
(ICE LIBOR USD 3 Month + 1.34%), 3.59%, 7/22/2028 (b) |
330,000 | 340,702 | ||||||
(ICE LIBOR USD 3 Month + 1.63%), 4.43%, 1/23/2030 (b) |
223,000 | 240,574 | ||||||
(SOFR + 1.14%), 2.70%, 1/22/2031 (b) |
70,000 | 67,729 | ||||||
(SOFR + 1.18%), 2.24%, 7/21/2032 (b) |
80,000 | 73,652 |
SEE NOTES TO FINANCIAL STATEMENTS.
46 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Capital Markets — continued |
||||||||
(SOFR + 1.20%), 2.51%, 10/20/2032 (b) |
145,000 | 136,907 | ||||||
(SOFR + 1.29%), 2.94%, 1/21/2033 (b) |
25,000 | 24,481 | ||||||
(SOFR + 1.49%), 3.22%, 4/22/2042 (b) |
135,000 | 128,865 | ||||||
MSCI, Inc. 4.00%, 11/15/2029 (a) |
80,000 | 80,431 | ||||||
Northern Trust Corp. 3.95%, 10/30/2025 |
60,000 | 63,474 | ||||||
S&P Global, Inc. 3.25%, 12/1/2049 |
73,000 | 70,517 | ||||||
UBS Group AG (Switzerland) |
||||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.85%), 1.49%, 8/10/2027 (a) (b) |
200,000 | 188,643 | ||||||
(ICE LIBOR USD 3 Month + 1.47%), 3.13%, 8/13/2030 (a) (b) |
200,000 | 197,669 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 2.75%, 2/11/2033 (a) (b) |
470,000 | 448,112 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 3.18%, 2/11/2043 (a) (b) |
200,000 | 185,835 | ||||||
|
|
|||||||
7,084,571 | ||||||||
|
|
|||||||
Chemicals — 0.6% |
| |||||||
Axalta Coating Systems LLC 4.75%, 6/15/2027 (a) |
150,000 | 150,375 | ||||||
CF Industries, Inc. |
||||||||
5.15%, 3/15/2034 |
60,000 | 67,140 | ||||||
4.95%, 6/1/2043 |
70,000 | 75,848 | ||||||
Chemours Co. (The) 5.75%, 11/15/2028 (a) |
80,000 | 78,638 | ||||||
CVR Partners LP 6.13%, 6/15/2028 (a) |
70,000 | 70,437 | ||||||
Ecolab, Inc. |
||||||||
3.25%, 12/1/2027 |
52,000 | 54,481 | ||||||
2.13%, 2/1/2032 |
75,000 | 70,769 | ||||||
Element
Solutions, Inc. |
105,000 | 99,586 | ||||||
INEOS Quattro Finance 2 plc (United Kingdom) 3.38%, 1/15/2026 (a) |
200,000 | 191,000 | ||||||
International Flavors & Fragrances, Inc. 1.83%, 10/15/2027 (a) |
36,000 | 34,038 | ||||||
3.27%, 11/15/2040 (a) |
25,000 | 23,080 | ||||||
3.47%, 12/1/2050 (a) |
13,000 | 11,805 | ||||||
LYB International Finance III LLC 3.38%, 10/1/2040 |
40,000 | 37,436 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Chemicals — continued |
||||||||
NOVA Chemicals Corp. (Canada) 5.25%, 6/1/2027 (a) |
140,000 | 140,350 | ||||||
Nutrien Ltd. (Canada) 2.95%, 5/13/2030 |
80,000 | 79,626 | ||||||
Olin Corp. 5.13%, 9/15/2027 |
13,000 | 13,162 | ||||||
Scotts Miracle-Gro Co. (The) 4.50%, 10/15/2029 |
375,000 | 361,875 | ||||||
Sherwin-Williams Co. (The) 4.50%, 6/1/2047 |
15,000 | 16,454 | ||||||
Trinseo Materials Operating SCA 5.38%, 9/1/2025 (a) |
10,000 | 10,080 | ||||||
WR Grace Holdings LLC 5.63%, 10/1/2024 (a) |
85,000 | 86,686 | ||||||
|
|
|||||||
1,672,866 | ||||||||
|
|
|||||||
Commercial Services & Supplies — 0.7% |
| |||||||
ACCO Brands Corp. 4.25%, 3/15/2029 (a) |
365,000 | 340,363 | ||||||
ADT Security Corp. (The) |
||||||||
4.13%, 6/15/2023 |
26,000 | 26,495 | ||||||
4.88%, 7/15/2032 (a) |
20,000 | 18,650 | ||||||
Aramark Services, Inc. 5.00%, 2/1/2028 (a) |
85,000 | 85,152 | ||||||
Brink’s Co. (The) 4.63%, 10/15/2027 (a) |
25,000 | 24,400 | ||||||
Garda World Security Corp. (Canada) 4.63%, 2/15/2027 (a) |
85,000 | 82,344 | ||||||
GFL Environmental, Inc. (Canada) |
||||||||
3.75%, 8/1/2025 (a) |
105,000 | 103,950 | ||||||
5.13%, 12/15/2026 (a) |
55,000 | 56,160 | ||||||
3.50%, 9/1/2028 (a) |
35,000 | 33,412 | ||||||
Madison IAQ LLC 4.13%, 6/30/2028(a) |
505,000 | 477,722 | ||||||
Nielsen Finance LLC 5.63%, 10/1/2028(a) |
125,000 | 120,794 | ||||||
Prime Security Services Borrower LLC |
||||||||
5.75%, 4/15/2026 (a) |
177,000 | 181,880 | ||||||
3.38%, 8/31/2027 (a) |
120,000 | 110,993 | ||||||
Republic Services, Inc. 1.45%, 2/15/2031 |
30,000 | 26,562 | ||||||
Stericycle, Inc. 3.88%, 1/15/2029 (a) |
245,000 | 228,156 | ||||||
Waste Management, Inc. 1.50%, 3/15/2031 |
20,000 | 17,876 | ||||||
|
|
|||||||
1,934,909 | ||||||||
|
|
|||||||
Communications Equipment — 0.1% |
| |||||||
CommScope Technologies LLC 6.00%, 6/15/2025 (a) |
105,000 | 102,710 | ||||||
CommScope, Inc. 6.00%, 3/1/2026 (a) |
172,000 | 176,045 | ||||||
Nokia OYJ (Finland) 4.38%, 6/12/2027 |
13,000 | 13,459 | ||||||
Plantronics, Inc. 4.75%, 3/1/2029 (a) |
70,000 | 61,950 | ||||||
|
|
|||||||
354,164 | ||||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 47 |
JPMorgan Core Plus Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Construction & Engineering — 0.1% |
| |||||||
AECOM 5.13%, 3/15/2027 |
18,000 | 18,450 | ||||||
Dycom
Industries, Inc. |
70,000 | 67,375 | ||||||
Global Infrastructure Solutions, Inc. 5.63%, 6/1/2029 (a) |
85,000 | 83,937 | ||||||
MasTec, Inc. 4.50%, 8/15/2028 (a) |
115,000 | 116,595 | ||||||
Weekley Homes LLC 4.88%, 9/15/2028 (a) |
95,000 | 90,365 | ||||||
|
|
|||||||
376,722 | ||||||||
|
|
|||||||
Construction Materials — 0.0% (e) |
||||||||
Martin Marietta Materials, Inc. 2.40%, 7/15/2031 |
70,000 | 65,567 | ||||||
|
|
|||||||
Consumer Finance — 1.1% |
||||||||
AerCap Ireland Capital DAC (Ireland) |
||||||||
2.45%, 10/29/2026 |
150,000 | 144,717 | ||||||
3.00%, 10/29/2028 |
450,000 | 433,426 | ||||||
Ally Financial, Inc. 5.75%, 11/20/2025 |
64,000 | 68,138 | ||||||
Avolon Holdings Funding Ltd. (Ireland) |
||||||||
5.13%, 10/1/2023 (a) |
70,000 | 72,473 | ||||||
5.25%, 5/15/2024 (a) |
80,000 | 83,596 | ||||||
2.88%, 2/15/2025 (a) |
28,000 | 27,747 | ||||||
5.50%, 1/15/2026 (a) |
60,000 | 63,877 | ||||||
2.13%, 2/21/2026 (a) |
275,000 | 265,825 | ||||||
4.25%, 4/15/2026 (a) |
25,000 | 25,692 | ||||||
Capital One Financial Corp. (SOFR + 1.27%), 2.62%, 11/2/2032 (b) |
100,000 | 93,336 | ||||||
Ford Motor Credit Co. LLC |
||||||||
4.39%, 1/8/2026 |
200,000 | 204,042 | ||||||
4.13%, 8/17/2027 |
300,000 | 302,175 | ||||||
4.00%, 11/13/2030 |
250,000 | 248,000 | ||||||
3.63%, 6/17/2031 |
200,000 | 192,322 | ||||||
General Motors Financial Co., Inc. |
||||||||
3.60%, 6/21/2030 |
60,000 | 60,209 | ||||||
2.70%, 6/10/2031 |
25,000 | 23,134 | ||||||
John Deere Capital Corp. 2.65%, 6/10/2026 |
119,000 | 121,381 | ||||||
Navient Corp. |
||||||||
6.13%, 3/25/2024 |
50,000 | 51,500 | ||||||
5.88%, 10/25/2024 |
20,000 | 20,686 | ||||||
OneMain Finance Corp. |
||||||||
7.13%, 3/15/2026 |
129,000 | 139,836 | ||||||
6.63%, 1/15/2028 |
95,000 | 101,499 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Consumer Finance — continued |
||||||||
Park Aerospace Holdings Ltd. (Ireland) |
||||||||
4.50%, 3/15/2023 (a) |
205,000 | 209,263 | ||||||
5.50%, 2/15/2024 (a) |
208,000 | 217,798 | ||||||
|
|
|||||||
3,170,672 | ||||||||
|
|
|||||||
Containers & Packaging — 0.4% |
||||||||
Ardagh Packaging Finance plc 5.25%, 4/30/2025 (a) |
200,000 | 202,621 | ||||||
Ball Corp. |
||||||||
5.25%, 7/1/2025 |
20,000 | 21,200 | ||||||
3.13%, 9/15/2031 |
55,000 | 50,511 | ||||||
Berry Global, Inc. 4.88%, 7/15/2026 (a) |
55,000 | 55,762 | ||||||
Crown Americas LLC 4.25%, 9/30/2026 |
13,000 | 13,322 | ||||||
Greif, Inc. 6.50%, 3/1/2027 (a) |
78,000 | 80,535 | ||||||
LABL, Inc. 6.75%, 7/15/2026 (a) |
155,000 | 155,388 | ||||||
Mauser Packaging Solutions Holding Co. 5.50%, 4/15/2024 (a) |
140,000 | 139,300 | ||||||
Owens-Brockway Glass Container, Inc. 6.63%, 5/13/2027 (a) |
80,000 | 83,000 | ||||||
Packaging Corp. of America 3.05%, 10/1/2051 |
35,000 | 30,469 | ||||||
Pactiv Evergreen Group Issuer, Inc. 4.00%, 10/15/2027 (a) |
75,000 | 69,549 | ||||||
Sealed Air Corp. |
||||||||
5.50%, 9/15/2025 (a) |
12,000 | 12,570 | ||||||
4.00%, 12/1/2027 (a) |
60,000 | 59,400 | ||||||
Trivium Packaging Finance BV (Netherlands) 5.50%, 8/15/2026 (a) (f) |
200,000 | 201,858 | ||||||
WRKCo, Inc. 4.65%, 3/15/2026 |
30,000 | 32,404 | ||||||
|
|
|||||||
1,207,889 | ||||||||
|
|
|||||||
Distributors — 0.0% (e) |
||||||||
Wolverine Escrow LLC 9.00%, 11/15/2026 (a) |
20,000 | 20,000 | ||||||
|
|
|||||||
Diversified Consumer Services — 0.0% (e) |
|
|||||||
Service Corp. International 5.13%, 6/1/2029 |
105,000 | 107,625 | ||||||
|
|
|||||||
Diversified Financial Services — 0.3% |
||||||||
EDP Finance BV (Portugal) 1.71%, 1/24/2028 (a) |
250,000 | 231,541 | ||||||
ORIX Corp. (Japan) 4.05%, 1/16/2024 |
62,000 | 64,263 | ||||||
Sabre GLBL, Inc. 9.25%, 4/15/2025 (a) |
50,000 | 56,388 |
SEE NOTES TO FINANCIAL STATEMENTS.
48 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Diversified Financial Services — continued |
|
|||||||
Shell International Finance BV (Netherlands) |
|
|||||||
2.88%, 11/26/2041 |
200,000 | 184,077 | ||||||
3.63%, 8/21/2042 |
50,000 | 50,381 | ||||||
3.75%, 9/12/2046 |
41,000 | 42,875 | ||||||
3.13%, 11/7/2049 |
25,000 | 22,988 | ||||||
3.00%, 11/26/2051 |
200,000 | 182,125 | ||||||
|
|
|||||||
834,638 | ||||||||
|
|
|||||||
Diversified Telecommunication Services — 1.5% |
|
|||||||
Altice France Holding SA (Luxembourg) 10.50%, 5/15/2027 (a) |
200,000 | 209,400 | ||||||
Altice France SA (France) 5.13%, 7/15/2029 (a) |
200,000 | 181,000 | ||||||
AT&T, Inc. |
||||||||
1.65%, 2/1/2028 |
65,000 | 61,276 | ||||||
3.50%, 6/1/2041 |
60,000 | 57,050 | ||||||
3.10%, 2/1/2043 |
70,000 | 62,483 | ||||||
3.50%, 9/15/2053 |
65,000 | 59,436 | ||||||
3.55%, 9/15/2055 |
315,000 | 285,637 | ||||||
CCO Holdings LLC |
||||||||
5.13%, 5/1/2027 (a) |
25,000 | 25,250 | ||||||
5.00%, 2/1/2028 (a) |
395,000 | 397,407 | ||||||
5.38%, 6/1/2029 (a) |
100,000 | 101,563 | ||||||
4.75%, 3/1/2030 (a) |
280,000 | 274,956 | ||||||
4.50%, 8/15/2030 (a) |
199,000 | 191,653 | ||||||
4.50%, 5/1/2032 |
70,000 | 66,500 | ||||||
Embarq Corp. 8.00%, 6/1/2036 |
13,000 | 12,838 | ||||||
ESC Intelsat Jackson SA (Luxembourg) 8.50%, 10/15/2024 ‡ |
28,000 | 3 | ||||||
Frontier Communications Holdings LLC 5.88%, 10/15/2027 (a) |
115,000 | 116,626 | ||||||
Intelsat Jackson Holdings SA (Luxembourg) 6.50%, 3/15/2030 (a) |
19,000 | 19,332 | ||||||
Level 3 Financing, Inc. |
||||||||
5.38%, 5/1/2025 |
20,000 | 20,073 | ||||||
5.25%, 3/15/2026 |
54,000 | 54,101 | ||||||
Lumen Technologies, Inc. |
||||||||
Series T, 5.80%, 3/15/2022 |
12,000 | 12,006 | ||||||
5.63%, 4/1/2025 |
17,000 | 16,903 | ||||||
5.13%, 12/15/2026 (a) |
130,000 | 120,948 | ||||||
4.00%, 2/15/2027 (a) |
265,000 | 252,166 | ||||||
Series G, 6.88%, 1/15/2028 |
3,000 | 2,892 | ||||||
Sprint Capital Corp. 8.75%, 3/15/2032 |
375,000 | 520,313 | ||||||
Switch Ltd. 3.75%, 9/15/2028 (a) |
115,000 | 109,115 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Diversified Telecommunication Services — continued |
|
|||||||
Telecom Italia Capital SA (Italy) 6.00%, 9/30/2034 |
24,000 | 22,941 | ||||||
Verizon Communications, Inc. |
||||||||
2.10%, 3/22/2028 |
25,000 | 24,146 | ||||||
4.02%, 12/3/2029 |
54,000 | 57,950 | ||||||
2.55%, 3/21/2031 |
105,000 | 100,790 | ||||||
2.36%, 3/15/2032 (a) |
13,000 | 12,139 | ||||||
2.65%, 11/20/2040 |
295,000 | 255,983 | ||||||
3.40%, 3/22/2041 |
30,000 | 28,891 | ||||||
3.85%, 11/1/2042 |
125,000 | 125,709 | ||||||
2.88%, 11/20/2050 |
75,000 | 64,097 | ||||||
3.70%, 3/22/2061 |
30,000 | 28,594 | ||||||
Virgin Media Secured Finance plc (United Kingdom) 5.50%, 5/15/2029 (a) |
200,000 | 199,819 | ||||||
Zayo Group Holdings, Inc. 4.00%, 3/1/2027 (a) |
75,000 | 71,302 | ||||||
|
|
|||||||
4,223,288 | ||||||||
|
|
|||||||
Electric Utilities — 1.8% |
||||||||
AEP Transmission Co. LLC Series N, 2.75%, 8/15/2051 |
50,000 | 42,678 | ||||||
American Electric Power Co., Inc. 2.03%, 3/15/2024 |
40,000 | 39,908 | ||||||
Baltimore Gas and Electric Co. 2.90%, 6/15/2050 |
50,000 | 45,066 | ||||||
Connecticut Light and Power Co. (The) 4.00%, 4/1/2048 |
46,000 | 49,389 | ||||||
Duke Energy Carolinas LLC 3.20%, 8/15/2049 |
34,000 | 32,039 | ||||||
Duke Energy Indiana LLC |
||||||||
Series YYY, 3.25%, 10/1/2049 |
55,000 | 50,640 | ||||||
2.75%, 4/1/2050 |
165,000 | 140,099 | ||||||
Duquesne Light Holdings, Inc. 2.53%, 10/1/2030 (a) |
48,000 | 44,736 | ||||||
Emera US Finance LP (Canada) |
||||||||
2.64%, 6/15/2031 |
660,000 | 616,578 | ||||||
4.75%, 6/15/2046 |
50,000 | 52,768 | ||||||
Enel Finance International NV (Italy) 2.25%, 7/12/2031 (a) |
200,000 | 180,447 | ||||||
Entergy Arkansas LLC |
||||||||
4.00%, 6/1/2028 |
13,000 | 13,827 | ||||||
2.65%, 6/15/2051 |
14,000 | 11,635 | ||||||
Entergy Louisiana LLC |
||||||||
2.40%, 10/1/2026 |
69,000 | 68,382 | ||||||
1.60%, 12/15/2030 |
10,000 | 8,935 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 49 |
JPMorgan Core Plus Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Electric Utilities — continued |
||||||||
Entergy Mississippi LLC 3.50%, 6/1/2051 |
20,000 | 19,513 | ||||||
Florida Power & Light Co. 2.45%, 2/3/2032 |
180,000 | 174,807 | ||||||
Indiana Michigan Power Co. Series K, 4.55%, 3/15/2046 |
50,000 | 54,917 | ||||||
ITC Holdings Corp. 2.95%, 5/14/2030 (a) |
185,000 | 182,266 | ||||||
Kentucky Utilities Co. 5.13%, 11/1/2040 |
74,000 | 87,040 | ||||||
MidAmerican Energy Co. 3.65%, 4/15/2029 |
46,000 | 49,019 | ||||||
Mid-Atlantic Interstate Transmission LLC 4.10%, 5/15/2028 (a) |
200,000 | 212,376 | ||||||
Monongahela Power Co. 4.10%, 4/15/2024 (a) |
100,000 | 103,232 | ||||||
NRG Energy, Inc. |
||||||||
6.63%, 1/15/2027 |
21,000 | 21,704 | ||||||
5.75%, 1/15/2028 |
65,000 | 66,461 | ||||||
3.38%, 2/15/2029 (a) |
70,000 | 65,009 | ||||||
5.25%, 6/15/2029 (a) |
65,000 | 66,300 | ||||||
Ohio Power Co. |
||||||||
Series P, 2.60%, 4/1/2030 |
50,000 | 48,777 | ||||||
Series R, 2.90%, 10/1/2051 |
65,000 | 55,469 | ||||||
Oncor Electric Delivery Co. LLC 3.10%, 9/15/2049 |
50,000 | 46,247 | ||||||
Pacific Gas and Electric Co. |
||||||||
1.37%, 3/10/2023 |
50,000 | 49,477 | ||||||
1.70%, 11/15/2023 |
30,000 | 29,472 | ||||||
3.25%, 2/16/2024 |
75,000 | 75,492 | ||||||
3.45%, 7/1/2025 |
17,000 | 17,164 | ||||||
2.95%, 3/1/2026 |
10,000 | 9,870 | ||||||
4.65%, 8/1/2028 |
100,000 | 103,822 | ||||||
4.50%, 7/1/2040 |
130,000 | 122,491 | ||||||
4.20%, 6/1/2041 |
30,000 | 27,210 | ||||||
4.25%, 3/15/2046 |
78,000 | 70,330 | ||||||
PacifiCorp 4.15%, 2/15/2050 |
118,000 | 124,581 | ||||||
PG&E Corp. |
||||||||
5.00%, 7/1/2028 |
106,000 | 104,940 | ||||||
5.25%, 7/1/2030 |
15,000 | 14,900 | ||||||
Public Service Co. of Colorado Series 36, 2.70%, 1/15/2051 |
45,000 | 38,645 | ||||||
Public Service Electric and Gas Co. 3.00%, 5/15/2027 |
50,000 | 51,234 | ||||||
Southern California Edison Co. |
||||||||
Series G, 2.50%, 6/1/2031 |
400,000 | 379,220 | ||||||
Series C, 3.60%, 2/1/2045 |
35,000 | 32,582 | ||||||
Series C, 4.13%, 3/1/2048 |
88,000 | 88,728 | ||||||
Series 20A, 2.95%, 2/1/2051 |
80,000 | 67,523 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Electric Utilities — continued |
||||||||
Southwestern Electric Power Co. |
||||||||
Series N, 1.65%, 3/15/2026 |
45,000 | 43,463 | ||||||
3.25%, 11/1/2051 |
160,000 | 141,182 | ||||||
Southwestern Public Service Co. |
||||||||
3.30%, 6/15/2024 |
29,000 | 29,654 | ||||||
4.50%, 8/15/2041 |
74,000 | 82,085 | ||||||
Tucson Electric Power Co. 4.85%, 12/1/2048 |
72,000 | 82,875 | ||||||
Vistra Operations Co. LLC |
||||||||
5.50%, 9/1/2026 (a) |
65,000 | 66,132 | ||||||
5.00%, 7/31/2027 (a) |
55,000 | 55,408 | ||||||
4.38%, 5/1/2029 (a) |
110,000 | 106,595 | ||||||
4.30%, 7/15/2029 (a) |
90,000 | 91,164 | ||||||
Wisconsin Public Service Corp. 4.75%, 11/1/2044 |
69,000 | 80,613 | ||||||
|
|
|||||||
4,837,116 | ||||||||
|
|
|||||||
Electrical Equipment — 0.1% |
| |||||||
Eaton Corp. 4.00%, 11/2/2032 |
50,000 | 54,576 | ||||||
EnerSys |
||||||||
5.00%, 4/30/2023 (a) |
26,000 | 26,371 | ||||||
4.38%, 12/15/2027 (a) |
65,000 | 64,350 | ||||||
Sensata Technologies BV 5.00%, 10/1/2025 (a) |
40,000 | 41,364 | ||||||
|
|
|||||||
186,661 | ||||||||
|
|
|||||||
Electronic Equipment, Instruments & Components — 0.1% |
| |||||||
Arrow Electronics, Inc. 2.95%, 2/15/2032 |
20,000 | 19,126 | ||||||
CDW LLC 4.25%, 4/1/2028 |
85,000 | 83,725 | ||||||
Sensata Technologies, Inc. 4.38%, 2/15/2030 (a) |
40,000 | 38,900 | ||||||
|
|
|||||||
141,751 | ||||||||
|
|
|||||||
Energy Equipment & Services — 0.1% |
| |||||||
Baker Hughes Holdings LLC |
||||||||
2.06%, 12/15/2026 |
70,000 | 68,346 | ||||||
4.49%, 5/1/2030 |
86,000 | 94,484 | ||||||
4.08%, 12/15/2047 |
30,000 | 30,328 | ||||||
Halliburton Co. 3.80%, 11/15/2025 |
12,000 | 12,559 | ||||||
Nabors Industries, Inc. 5.75%, 2/1/2025 |
15,000 | 14,370 | ||||||
Oceaneering International, Inc. 4.65%, 11/15/2024 |
120,000 | 118,095 | ||||||
Transocean Pontus Ltd. 6.13%, 8/1/2025 (a) |
13,530 | 13,327 | ||||||
|
|
|||||||
351,509 | ||||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
50 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Entertainment — 0.6% |
| |||||||
Activision Blizzard, Inc. |
| |||||||
1.35%, 9/15/2030 |
230,000 | 204,843 | ||||||
2.50%, 9/15/2050 |
209,000 | 175,739 | ||||||
Cinemark USA, Inc. |
||||||||
5.88%, 3/15/2026 (a) |
75,000 | 73,875 | ||||||
5.25%, 7/15/2028 (a) |
40,000 | 38,152 | ||||||
Live Nation Entertainment, Inc. |
||||||||
5.63%, 3/15/2026 (a) |
2,000 | 2,035 | ||||||
6.50%, 5/15/2027 (a) |
10,000 | 10,707 | ||||||
4.75%, 10/15/2027 (a) |
110,000 | 108,077 | ||||||
Netflix, Inc. |
||||||||
4.88%, 4/15/2028 |
555,000 | 594,571 | ||||||
5.88%, 11/15/2028 |
35,000 | 39,573 | ||||||
5.38%, 11/15/2029 (a) |
88,000 | 98,285 | ||||||
Walt Disney Co. (The) |
||||||||
2.00%, 9/1/2029 |
50,000 | 47,728 | ||||||
3.80%, 3/22/2030 |
90,000 | 96,457 | ||||||
WMG Acquisition Corp. 3.88%, 7/15/2030 (a) |
100,000 | 96,000 | ||||||
|
|
|||||||
1,586,042 | ||||||||
|
|
|||||||
Equity Real Estate Investment Trusts (REITs) — 0.7% |
| |||||||
Alexandria Real Estate Equities, Inc. 1.88%, 2/1/2033 |
53,000 | 46,854 | ||||||
American Tower Corp. |
||||||||
1.45%, 9/15/2026 |
35,000 | 33,166 | ||||||
2.95%, 1/15/2051 |
25,000 | 20,502 | ||||||
AvalonBay Communities, Inc. 3.35%, 5/15/2027 |
32,000 | 33,242 | ||||||
Camden Property Trust 3.15%, 7/1/2029 |
30,000 | 30,663 | ||||||
Corporate
Office Properties LP |
94,000 | 92,433 | ||||||
Duke Realty LP 1.75%, 7/1/2030 |
49,000 | 44,660 | ||||||
ERP Operating LP 3.25%, 8/1/2027 |
31,000 | 32,074 | ||||||
Essex Portfolio LP 2.65%, 3/15/2032 |
45,000 | 43,041 | ||||||
Goodman
US Finance Three LLC (Australia) |
40,000 | 41,832 | ||||||
Healthpeak Properties, Inc. |
||||||||
2.13%, 12/1/2028 |
64,000 | 61,477 | ||||||
3.00%, 1/15/2030 |
37,000 | 36,824 | ||||||
Iron
Mountain, Inc. |
150,000 | 150,183 | ||||||
Life
Storage LP |
88,000 | 82,038 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Equity Real Estate Investment Trusts (REITs) — continued |
| |||||||
MGM Growth Properties Operating Partnership LP |
||||||||
5.63%, 5/1/2024 |
67,000 | 69,557 | ||||||
4.50%, 9/1/2026 |
95,000 | 96,922 | ||||||
National
Retail Properties, Inc. |
39,000 | 40,499 | ||||||
Office Properties Income Trust |
||||||||
4.50%, 2/1/2025 |
88,000 | 90,175 | ||||||
3.45%, 10/15/2031 |
35,000 | 32,036 | ||||||
Realty Income Corp. |
||||||||
4.13%, 10/15/2026 |
44,000 | 46,688 | ||||||
3.25%, 1/15/2031 |
9,000 | 9,125 | ||||||
Regency
Centers LP |
85,000 | 88,646 | ||||||
RHP
Hotel Properties LP |
140,000 | 136,850 | ||||||
Sabra
Health Care LP |
70,000 | 65,102 | ||||||
SBA
Communications Corp. |
75,000 | 69,660 | ||||||
Simon
Property Group LP |
31,000 | 28,484 | ||||||
UDR, Inc. 2.10%, 8/1/2032 |
45,000 | 40,482 | ||||||
VICI Properties LP |
||||||||
3.50%, 2/15/2025 (a) |
90,000 | 90,211 | ||||||
4.25%, 12/1/2026 (a) |
30,000 | 30,300 | ||||||
4.63%, 12/1/2029 (a) |
20,000 | 20,400 | ||||||
WP Carey, Inc. 2.25%, 4/1/2033 |
95,000 | 85,090 | ||||||
|
|
|||||||
1,789,216 | ||||||||
|
|
|||||||
Food & Staples Retailing — 0.3% |
| |||||||
7-Eleven, Inc. |
||||||||
0.95%, 2/10/2026 (a) |
15,000 | 14,123 | ||||||
1.30%, 2/10/2028 (a) |
12,000 | 10,935 | ||||||
2.50%, 2/10/2041 (a) |
14,000 | 11,712 | ||||||
2.80%, 2/10/2051 (a) |
50,000 | 41,741 | ||||||
Albertsons Cos., Inc. |
||||||||
4.63%, 1/15/2027 (a) |
430,000 | 431,887 | ||||||
4.88%, 2/15/2030 (a) |
20,000 | 20,050 | ||||||
Alimentation Couche-Tard, Inc. (Canada) |
||||||||
3.44%, 5/13/2041 (a) |
5,000 | 4,669 | ||||||
3.63%, 5/13/2051 (a) |
10,000 | 9,304 | ||||||
Performance
Food Group, Inc. |
111,000 | 112,942 | ||||||
Rite Aid Corp. 8.00%, 11/15/2026 (a) |
125,000 | 118,992 | ||||||
Sysco Corp. 2.40%, 2/15/2030 |
50,000 | 47,776 | ||||||
|
|
|||||||
824,131 | ||||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 51 |
JPMorgan Core Plus Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Food Products — 0.2% |
| |||||||
Bunge
Ltd. Finance Corp. |
30,000 | 28,553 | ||||||
Campbell
Soup Co. |
20,000 | 21,395 | ||||||
Darling
Ingredients, Inc. |
50,000 | 50,878 | ||||||
Kraft Heinz Foods Co. |
||||||||
3.00%, 6/1/2026 |
24,000 | 23,969 | ||||||
3.75%, 4/1/2030 |
115,000 | 117,219 | ||||||
Lamb
Weston Holdings, Inc. |
110,000 | 106,425 | ||||||
Mead
Johnson Nutrition Co. (United Kingdom) |
64,000 | 67,448 | ||||||
Post Holdings, Inc. |
||||||||
5.75%, 3/1/2027 (a) |
75,000 | 75,787 | ||||||
5.50%, 12/15/2029 (a) |
85,000 | 85,713 | ||||||
4.63%, 4/15/2030 (a) |
30,000 | 28,244 | ||||||
|
|
|||||||
605,631 | ||||||||
|
|
|||||||
Gas Utilities — 0.1% |
| |||||||
AmeriGas Partners LP |
||||||||
5.50%, 5/20/2025 |
23,000 | 23,415 | ||||||
5.88%, 8/20/2026 |
10,000 | 10,206 | ||||||
5.75%, 5/20/2027 |
80,000 | 80,824 | ||||||
Atmos Energy Corp. 5.50%, 6/15/2041 |
52,000 | 63,035 | ||||||
Boston Gas Co. 3.00%, 8/1/2029 (a) |
37,000 | 36,560 | ||||||
Southern California Gas Co. |
||||||||
Series XX, 2.55%, 2/1/2030 |
33,000 | 32,112 | ||||||
|
|
|||||||
246,152 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies — 0.2% |
| |||||||
Abbott
Laboratories |
20,000 | 18,779 | ||||||
Avantor
Funding, Inc. |
110,000 | 111,650 | ||||||
Becton Dickinson and Co. |
||||||||
3.70%, 6/6/2027 |
45,000 | 47,171 | ||||||
Hologic, Inc. |
||||||||
3.25%, 2/15/2029 (a) |
115,000 | 108,963 | ||||||
Mozart Debt Merger Sub, Inc. |
||||||||
3.88%, 4/1/2029 (a) |
65,000 | 61,674 | ||||||
5.25%, 10/1/2029 (a) |
55,000 | 52,525 | ||||||
Teleflex, Inc. |
||||||||
4.63%, 11/15/2027 |
20,000 | 20,300 | ||||||
4.25%, 6/1/2028 (a) |
85,000 | 83,937 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Health Care Equipment & Supplies — continued |
| |||||||
Zimmer Biomet Holdings, Inc. |
||||||||
2.60%, 11/24/2031 |
58,000 | 54,749 | ||||||
|
|
|||||||
559,748 | ||||||||
|
|
|||||||
Health Care Providers & Services — 1.3% |
| |||||||
Acadia Healthcare Co., Inc. |
||||||||
5.50%, 7/1/2028 (a) |
75,000 | 75,188 | ||||||
AdaptHealth LLC |
||||||||
4.63%, 8/1/2029 (a) |
85,000 | 76,683 | ||||||
Centene Corp. |
||||||||
4.63%, 12/15/2029 |
470,000 | 484,100 | ||||||
Cigna Corp. |
||||||||
2.38%, 3/15/2031 |
35,000 | 32,990 | ||||||
CommonSpirit Health |
||||||||
1.55%, 10/1/2025 |
13,000 | 12,546 | ||||||
2.78%, 10/1/2030 |
13,000 | 12,685 | ||||||
3.91%, 10/1/2050 |
15,000 | 15,195 | ||||||
Community Health Systems, Inc. |
||||||||
5.63%, 3/15/2027 (a) |
230,000 | 231,886 | ||||||
CVS Health Corp. |
||||||||
2.88%, 6/1/2026 |
10,000 | 10,120 | ||||||
4.30%, 3/25/2028 |
37,000 | 39,943 | ||||||
2.70%, 8/21/2040 |
50,000 | 43,645 | ||||||
DaVita, Inc. |
||||||||
4.63%, 6/1/2030 (a) |
160,000 | 153,400 | ||||||
Encompass Health Corp. |
||||||||
4.50%, 2/1/2028 |
85,000 | 82,750 | ||||||
4.75%, 2/1/2030 |
40,000 | 38,196 | ||||||
Envision Healthcare Corp. |
||||||||
8.75%, 10/15/2026 (a) |
20,000 | 10,600 | ||||||
Hackensack Meridian Health, Inc. |
||||||||
Series 2020, 2.68%, 9/1/2041 |
50,000 | 44,969 | ||||||
HCA, Inc. |
||||||||
5.25%, 6/15/2026 |
60,000 | 64,968 | ||||||
5.38%, 9/1/2026 |
155,000 | 166,779 | ||||||
4.50%, 2/15/2027 |
210,000 | 222,567 | ||||||
5.63%, 9/1/2028 |
420,000 | 465,368 | ||||||
5.88%, 2/1/2029 |
25,000 | 27,938 | ||||||
3.50%, 9/1/2030 |
25,000 | 24,750 | ||||||
3.50%, 7/15/2051 |
70,000 | 62,236 | ||||||
MidMichigan Health |
||||||||
Series 2020, 3.41%, 6/1/2050 |
10,000 | 9,728 | ||||||
MultiCare Health System |
||||||||
2.80%, 8/15/2050 |
10,000 | 8,902 |
SEE NOTES TO FINANCIAL STATEMENTS.
52 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Health Care Providers & Services — continued |
|
|||||||
New York and Presbyterian Hospital (The) 2.61%, 8/1/2060 |
5,000 | 4,212 | ||||||
Northwell Healthcare, Inc. |
||||||||
4.26%, 11/1/2047 |
110,000 | 120,040 | ||||||
Owens & Minor, Inc. |
||||||||
4.50%, 3/31/2029 (a) |
110,000 | 103,723 | ||||||
Quest Diagnostics, Inc. |
||||||||
2.95%, 6/30/2030 |
15,000 | 14,788 | ||||||
Tenet Healthcare Corp. |
||||||||
4.63%, 9/1/2024 (a) |
140,000 | 141,896 | ||||||
4.88%, 1/1/2026 (a) |
125,000 | 125,850 | ||||||
5.13%, 11/1/2027 (a) |
145,000 | 147,798 | ||||||
4.25%, 6/1/2029 (a) |
215,000 | 207,518 | ||||||
UnitedHealth Group, Inc. |
||||||||
3.38%, 4/15/2027 |
91,000 | 95,507 | ||||||
3.05%, 5/15/2041 |
90,000 | 86,364 | ||||||
4.63%, 11/15/2041 |
132,000 | 152,564 | ||||||
3.25%, 5/15/2051 |
55,000 | 53,408 | ||||||
Universal Health Services, Inc. |
||||||||
2.65%, 10/15/2030 (a) |
32,000 | 30,222 | ||||||
|
|
|||||||
3,702,022 | ||||||||
|
|
|||||||
Health Care Technology — 0.1% |
| |||||||
IQVIA, Inc. |
||||||||
5.00%, 5/15/2027 (a) |
200,000 | 204,586 | ||||||
|
|
|||||||
Hotels, Restaurants & Leisure — 0.7% |
| |||||||
1011778 BC ULC (Canada) |
||||||||
5.75%, 4/15/2025 (a) |
50,000 | 51,461 | ||||||
3.88%, 1/15/2028 (a) |
92,000 | 89,470 | ||||||
Boyd Gaming Corp. |
||||||||
4.75%, 12/1/2027 |
65,000 | 65,255 | ||||||
Boyne USA, Inc. |
||||||||
4.75%, 5/15/2029 (a) |
85,000 | 83,513 | ||||||
Caesars Resort Collection LLC |
||||||||
5.75%, 7/1/2025 (a) |
75,000 | 76,908 | ||||||
Carnival Corp. |
||||||||
9.88%, 8/1/2027 (a) |
110,000 | 123,475 | ||||||
4.00%, 8/1/2028 (a) |
45,000 | 43,121 | ||||||
Cedar Fair LP |
||||||||
5.38%, 4/15/2027 |
85,000 | 85,638 | ||||||
Hilton Domestic Operating Co., Inc. |
||||||||
5.38%, 5/1/2025 (a) |
25,000 | 25,777 | ||||||
4.88%, 1/15/2030 |
150,000 | 154,311 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Hotels, Restaurants & Leisure — continued |
|
|||||||
International Game Technology plc |
||||||||
6.25%, 1/15/2027 (a) |
200,000 | 212,000 | ||||||
Marriott Ownership Resorts, Inc. |
||||||||
4.50%, 6/15/2029 (a) |
70,000 | 66,325 | ||||||
MGM Resorts International |
||||||||
5.50%, 4/15/2027 |
41,000 | 42,310 | ||||||
Royal Caribbean Cruises Ltd. |
||||||||
9.13%, 6/15/2023 (a) |
100,000 | 104,568 | ||||||
11.50%, 6/1/2025 (a) |
10,000 | 11,047 | ||||||
Scientific Games International, Inc. |
||||||||
5.00%, 10/15/2025 (a) |
26,000 | 26,260 | ||||||
Six Flags Theme Parks, Inc. |
||||||||
7.00%, 7/1/2025 (a) |
125,000 | 130,554 | ||||||
Starbucks Corp. |
||||||||
3.35%, 3/12/2050 |
5,000 | 4,540 | ||||||
Station Casinos LLC |
||||||||
4.50%, 2/15/2028 (a) |
105,000 | 100,931 | ||||||
Travel + Leisure Co. |
||||||||
5.65%, 4/1/2024 (f) |
25,000 | 25,938 | ||||||
Vail Resorts, Inc. |
||||||||
6.25%, 5/15/2025 (a) |
70,000 | 72,100 | ||||||
Wynn Las Vegas LLC |
||||||||
5.50%, 3/1/2025 (a) |
75,000 | 76,064 | ||||||
Wynn Resorts Finance LLC |
||||||||
5.13%, 10/1/2029 (a) |
100,000 | 96,250 | ||||||
Yum! Brands, Inc. |
||||||||
7.75%, 4/1/2025 (a) |
35,000 | 36,468 | ||||||
|
|
|||||||
1,804,284 | ||||||||
|
|
|||||||
Household Durables — 0.2% |
| |||||||
CD&R Smokey Buyer, Inc. |
||||||||
6.75%, 7/15/2025 (a) |
55,000 | 56,788 | ||||||
Lennar Corp. |
||||||||
4.50%, 4/30/2024 |
6,000 | 6,241 | ||||||
MDC Holdings, Inc. |
||||||||
3.85%, 1/15/2030 |
65,000 | 65,473 | ||||||
2.50%, 1/15/2031 |
75,000 | 68,084 | ||||||
Newell Brands, Inc. |
||||||||
4.70%, 4/1/2026 (f) |
55,000 | 56,935 | ||||||
5.87%, 4/1/2036 (f) |
50,000 | 54,813 | ||||||
Tempur Sealy International, Inc. |
||||||||
4.00%, 4/15/2029 (a) |
110,000 | 103,666 | ||||||
|
|
|||||||
412,000 | ||||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 53 |
JPMorgan Core Plus Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Household Products — 0.2% |
| |||||||
Central Garden & Pet Co. 5.13%, 2/1/2028 |
145,000 | 147,719 | ||||||
Energizer Holdings, Inc. 4.38%, 3/31/2029 (a) |
150,000 | 135,187 | ||||||
Kimberly-Clark Corp. 3.20%, 4/25/2029 |
39,000 | 40,536 | ||||||
Spectrum Brands, Inc. |
||||||||
5.75%, 7/15/2025 |
5,000 | 5,084 | ||||||
5.00%, 10/1/2029 (a) |
95,000 | 93,813 | ||||||
|
|
|||||||
422,339 | ||||||||
|
|
|||||||
Independent Power and Renewable Electricity Producers — 0.1% |
| |||||||
Calpine Corp. |
||||||||
5.25%, 6/1/2026 (a) |
23,000 | 23,230 | ||||||
5.13%, 3/15/2028 (a) |
55,000 | 53,000 | ||||||
Constellation Energy Generation LLC |
||||||||
3.25%, 6/1/2025 |
37,000 | 37,779 | ||||||
5.75%, 10/1/2041 |
20,000 | 22,217 | ||||||
5.60%, 6/15/2042 |
95,000 | 105,230 | ||||||
|
|
|||||||
241,456 | ||||||||
|
|
|||||||
Industrial Conglomerates — 0.0% (e) |
| |||||||
Roper Technologies, Inc. |
||||||||
1.75%, 2/15/2031 |
45,000 | 39,786 | ||||||
|
|
|||||||
Insurance — 0.3% |
| |||||||
Aflac, Inc. |
||||||||
3.25%, 3/17/2025 |
21,000 | 21,643 | ||||||
Allstate Corp. (The) |
||||||||
5.35%, 6/1/2033 |
23,000 | 27,319 | ||||||
Athene Global Funding |
||||||||
0.95%, 1/8/2024 (a) |
22,000 | 21,501 | ||||||
2.50%, 1/14/2025 (a) |
7,000 | 6,988 | ||||||
1.45%, 1/8/2026 (a) |
20,000 | 19,100 | ||||||
2.95%, 11/12/2026 (a) |
44,000 | 44,122 | ||||||
Berkshire Hathaway Finance Corp. |
||||||||
4.25%, 1/15/2049 |
79,000 | 88,086 | ||||||
2.85%, 10/15/2050 |
60,000 | 52,633 | ||||||
Equitable Financial Life Global Funding |
||||||||
1.70%, 11/12/2026 (a) |
25,000 | 23,902 | ||||||
F&G Global Funding |
||||||||
1.75%, 6/30/2026 (a) |
10,000 | 9,628 | ||||||
Lincoln National Corp. |
||||||||
3.35%, 3/9/2025 |
30,000 | 30,994 | ||||||
Manulife Financial Corp. (Canada) |
||||||||
4.15%, 3/4/2026 |
42,000 | 44,507 | ||||||
MetLife, Inc. |
||||||||
4.13%, 8/13/2042 |
79,000 | 84,317 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Insurance — continued |
||||||||
New York Life Global Funding |
||||||||
3.00%, 1/10/2028 (a) |
51,000 | 52,285 | ||||||
Pacific Life Insurance Co. |
||||||||
(ICE LIBOR USD 3 Month + 2.80%), 4.30%, 10/24/2067 (a)(b) |
27,000 | 27,007 | ||||||
Principal Financial Group, Inc. |
||||||||
3.70%, 5/15/2029 |
45,000 | 47,901 | ||||||
Progressive Corp. (The) |
||||||||
4.35%, 4/25/2044 |
42,000 | 46,961 | ||||||
Prudential Financial, Inc. |
||||||||
3.88%, 3/27/2028 |
32,000 | 34,205 | ||||||
3.91%, 12/7/2047 |
20,000 | 20,827 | ||||||
Teachers Insurance & Annuity Association of America |
||||||||
4.27%, 5/15/2047 (a) |
40,000 | 43,243 | ||||||
Travelers Cos., Inc. (The) |
||||||||
5.35%, 11/1/2040 |
46,000 | 57,079 | ||||||
W R Berkley Corp. |
||||||||
3.55%, 3/30/2052 |
45,000 | 42,345 | ||||||
|
|
|||||||
846,593 | ||||||||
|
|
|||||||
Internet & Direct Marketing Retail — 0.1% |
| |||||||
Amazon.com, Inc. |
||||||||
3.15%, 8/22/2027 |
201,000 | 210,048 | ||||||
3.10%, 5/12/2051 |
40,000 | 38,665 | ||||||
Photo Holdings Merger Sub, Inc. |
||||||||
8.50%, 10/1/2026 (a) |
13,000 | 12,909 | ||||||
|
|
|||||||
261,622 | ||||||||
|
|
|||||||
IT Services — 0.3% |
| |||||||
Arches Buyer, Inc. |
||||||||
4.25%, 6/1/2028 (a) |
85,000 | 80,495 | ||||||
Black Knight InfoServ LLC |
||||||||
3.63%, 9/1/2028 (a) |
90,000 | 85,197 | ||||||
Block, Inc. |
||||||||
3.50%, 6/1/2031 (a) |
65,000 | 61,038 | ||||||
Fidelity National Information Services, Inc. |
||||||||
2.25%, 3/1/2031 |
20,000 | 18,210 | ||||||
Gartner, Inc. |
||||||||
3.75%, 10/1/2030 (a) |
130,000 | 126,464 | ||||||
Global Payments, Inc. |
||||||||
3.20%, 8/15/2029 |
60,000 | 59,227 | ||||||
2.90%, 5/15/2030 |
40,000 | 38,486 | ||||||
2.90%, 11/15/2031 |
75,000 | 71,512 |
SEE NOTES TO FINANCIAL STATEMENTS.
54 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
IT Services — continued |
||||||||
International Business Machines Corp. 5.60%, 11/30/2039 |
66,000 | 82,555 | ||||||
Presidio Holdings, Inc. |
||||||||
4.88%, 2/1/2027 (a) |
75,000 | 74,812 | ||||||
|
|
|||||||
697,996 | ||||||||
|
|
|||||||
Leisure Products — 0.1% |
| |||||||
Hasbro, Inc. |
||||||||
3.90%, 11/19/2029 |
15,000 | 15,699 | ||||||
Mattel, Inc. |
||||||||
3.38%, 4/1/2026(a) |
70,000 | 69,517 | ||||||
5.88%, 12/15/2027 (a) |
65,000 | 68,900 | ||||||
|
|
|||||||
154,116 | ||||||||
|
|
|||||||
Life Sciences Tools & Services —0.1% |
| |||||||
Charles
River Laboratories International, Inc. |
80,000 | 76,896 | ||||||
Thermo
Fisher Scientific, Inc. |
20,000 | 18,940 | ||||||
2.60%, 10/1/2029 |
91,000 | 89,649 | ||||||
|
|
|||||||
185,485 | ||||||||
|
|
|||||||
Machinery — 0.2% |
| |||||||
Amsted
Industries, Inc. |
65,000 | 65,650 | ||||||
Caterpillar,
Inc. |
78,000 | 88,962 | ||||||
Illinois
Tool Works, Inc. |
15,000 | 15,902 | ||||||
Otis
Worldwide Corp. |
30,000 | 29,773 | ||||||
Parker-Hannifin
Corp. |
92,000 | 95,232 | ||||||
Stanley
Black & Decker, Inc. |
10,000 | 8,406 | ||||||
TK Elevator US Newco, Inc. (Germany) |
||||||||
5.25%, 7/15/2027 (a) |
200,000 | 198,000 | ||||||
Xylem,
Inc. |
30,000 | 28,733 | ||||||
|
|
|||||||
530,658 | ||||||||
|
|
|||||||
Media — 1.5% |
| |||||||
Altice
Financing SA (Luxembourg) |
200,000 | 182,250 | ||||||
AMC
Networks, Inc. |
4,000 | 3,996 | ||||||
Charter
Communications Operating LLC |
165,000 | 152,381 | ||||||
3.50%, 6/1/2041 |
85,000 | 73,448 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Media — continued |
| |||||||
3.50%, 3/1/2042 |
90,000 | 77,585 | ||||||
3.70%, 4/1/2051 |
40,000 | 33,558 | ||||||
3.90%, 6/1/2052 |
95,000 | 82,626 | ||||||
Clear
Channel Outdoor Holdings, Inc |
157,000 | 156,859 | ||||||
Comcast
Corp. |
94,000 | 103,389 | ||||||
1.50%, 2/15/2031 |
200,000 | 177,782 | ||||||
3.90%, 3/1/2038 |
95,000 | 96,723 | ||||||
3.25%, 11/1/2039 |
133,000 | 126,009 | ||||||
4.00%, 3/1/2048 |
45,000 | 46,065 | ||||||
2.89%, 11/1/2051 (a) |
10,000 | 8,675 | ||||||
2.45%, 8/15/2052 |
110,000 | 88,632 | ||||||
2.94%, 11/1/2056 (a) |
298,000 | 250,818 | ||||||
CSC
Holdings LLC |
200,000 | 199,500 | ||||||
Diamond
Sports Group LLC |
35,000 | 14,350 | ||||||
Directv
Financing LLC |
80,000 | 79,973 | ||||||
Discovery
Communications LLC |
25,000 | 22,718 | ||||||
DISH
DBS Corp. |
246,000 | 246,000 | ||||||
7.75%, 7/1/2026 |
290,000 | 293,680 | ||||||
5.25%, 12/1/2026 (a) |
175,000 | 171,555 | ||||||
Gray
Escrow II, Inc. |
135,000 | 129,959 | ||||||
iHeartCommunications,
Inc. |
25,000 | 25,782 | ||||||
8.38%, 5/1/2027 |
25,000 | 26,042 | ||||||
5.25%, 8/15/2027 (a) |
115,000 | 114,545 | ||||||
Lamar
Media Corp. |
40,000 | 38,432 | ||||||
4.00%, 2/15/2030 |
35,000 | 33,688 | ||||||
Midas
OpCo Holdings LLC |
85,000 | 83,300 | ||||||
Midcontinent
Communications |
15,000 | 14,831 | ||||||
News
Corp. |
55,000 | 52,662 | ||||||
Nexstar
Media, Inc. |
40,000 | 40,900 | ||||||
4.75%, 11/1/2028 (a) |
95,000 | 92,150 | ||||||
Outfront
Media Capital LLC |
25,000 | 25,969 | ||||||
5.00%, 8/15/2027 (a) |
76,000 | 75,316 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 55 |
JPMorgan Core Plus Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Media — continued |
||||||||
Paramount
Global |
50,000 | 54,195 | ||||||
Scripps
Escrow II, Inc. |
70,000 | 65,600 | ||||||
Sinclair
Television Group, Inc. |
65,000 | 58,194 | ||||||
Sirius
XM Radio, Inc. |
110,000 | 111,489 | ||||||
5.50%, 7/1/2029 (a) |
295,000 | 301,637 | ||||||
TEGNA,
Inc. |
55,000 | 54,849 | ||||||
Univision
Communications, Inc. |
70,000 | 67,003 | ||||||
Videotron
Ltd. (Canada) |
37,000 | 38,331 | ||||||
5.13%, 4/15/2027 (a) |
25,000 | 25,437 | ||||||
|
|
|||||||
4,218,883 | ||||||||
|
|
|||||||
Metals & Mining — 0.8% |
| |||||||
Alcoa
Nederland Holding BV |
200,000 | 208,500 | ||||||
Allegheny
Technologies, Inc. |
100,000 | 102,050 | ||||||
Arconic
Corp. |
40,000 | 41,200 | ||||||
6.13%, 2/15/2028 (a) |
60,000 | 61,350 | ||||||
Carpenter
Technology Corp. |
100,000 | 100,875 | ||||||
Cleveland-Cliffs,
Inc. |
125,000 | 131,743 | ||||||
5.88%, 6/1/2027 |
70,000 | 72,107 | ||||||
Commercial
Metals Co. |
28,000 | 28,553 | ||||||
FMG Resources August 2006 Pty. Ltd. (Australia) |
||||||||
4.50%, 9/15/2027 (a) |
100,000 | 100,282 | ||||||
Freeport-McMoRan,
Inc. |
45,000 | 46,350 | ||||||
4.63%, 8/1/2030 |
60,000 | 61,941 | ||||||
5.40%, 11/14/2034 |
43,000 | 48,321 | ||||||
5.45%, 3/15/2043 |
275,000 | 316,291 | ||||||
Glencore
Funding LLC (Australia) |
40,000 | 41,263 | ||||||
2.50%, 9/1/2030 (a) |
37,000 | 34,044 | ||||||
2.85%, 4/27/2031 (a) |
185,000 | 173,751 | ||||||
2.63%, 9/23/2031 (a) |
113,000 | 103,812 | ||||||
Kaiser
Aluminum Corp. |
85,000 | 80,263 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Metals & Mining — continued |
||||||||
Novelis Corp. |
||||||||
4.75%, 1/30/2030 (a) |
105,000 | 102,745 | ||||||
Nucor
Corp. |
200,000 | 172,082 | ||||||
Rio
Tinto Finance USA Ltd. (Australia) |
59,000 | 73,695 | ||||||
Teck
Resources Ltd. (Canada) |
20,000 | 24,434 | ||||||
5.40%, 2/1/2043 |
20,000 | 22,196 | ||||||
Vale
Overseas Ltd. (Brazil) |
20,000 | 19,640 | ||||||
8.25%, 1/17/2034 |
45,000 | 58,958 | ||||||
|
|
|||||||
2,226,446 | ||||||||
|
|
|||||||
Multi-Utilities — 0.2% |
| |||||||
Ameren
Corp. |
20,000 | 19,328 | ||||||
3.50%, 1/15/2031 |
211,000 | 216,869 | ||||||
Berkshire
Hathaway Energy Co. |
94,000 | 109,114 | ||||||
2.85%, 5/15/2051 |
40,000 | 33,941 | ||||||
Consolidated Edison Co. of New York, Inc. |
||||||||
Series
A, |
41,000 | 42,533 | ||||||
PG&E Energy Recovery Funding LLC |
||||||||
Series
A-3, |
70,000 | 66,840 | ||||||
Puget
Sound Energy, Inc. |
90,000 | 111,027 | ||||||
San
Diego Gas & Electric Co. |
30,000 | 26,875 | ||||||
Southern Co. Gas Capital Corp. |
||||||||
Series
21A, |
50,000 | 44,456 | ||||||
|
|
|||||||
670,983 | ||||||||
|
|
|||||||
Oil, Gas & Consumable Fuels — 3.2% |
| |||||||
Antero
Midstream Partners LP |
80,000 | 86,000 | ||||||
Antero
Resources Corp. |
85,000 | 86,063 | ||||||
5.38%, 3/1/2030 (a) |
50,000 | 50,937 | ||||||
Apache Corp. 4.88%, 11/15/2027 |
165,000 | 169,537 | ||||||
BP
Capital Markets America, Inc. |
106,000 | 107,984 | ||||||
3.94%, 9/21/2028 |
20,000 | 21,208 | ||||||
2.72%, 1/12/2032 |
475,000 | 455,039 | ||||||
3.06%, 6/17/2041 |
130,000 | 116,538 |
SEE NOTES TO FINANCIAL STATEMENTS.
56 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Oil, Gas & Consumable Fuels — continued |
||||||||
3.00%, 2/24/2050 |
99,000 | 84,602 | ||||||
2.77%, 11/10/2050 |
55,000 | 45,928 | ||||||
2.94%, 6/4/2051 |
67,000 | 56,356 | ||||||
3.00%, 3/17/2052 |
280,000 | 237,983 | ||||||
BP Capital Markets plc (United Kingdom) |
||||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.04%), 4.38%, 6/22/2025 (b) (c) (d) |
85,000 | 85,000 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.40%), 4.88%, 3/22/2030 (b) (c) (d) |
155,000 | 153,620 | ||||||
Buckeye Partners LP |
||||||||
3.95%, 12/1/2026 |
10,000 | 9,650 | ||||||
4.13%, 12/1/2027 |
105,000 | 99,172 | ||||||
Cameron LNG LLC 3.70%, 1/15/2039 (a) |
20,000 | 19,965 | ||||||
Cheniere Corpus Christi Holdings LLC |
||||||||
5.88%, 3/31/2025 |
285,000 | 307,766 | ||||||
5.13%, 6/30/2027 |
140,000 | 152,666 | ||||||
3.70%, 11/15/2029 |
200,000 | 203,755 | ||||||
Cheniere Energy Partners LP |
||||||||
4.50%, 10/1/2029 |
164,000 | 167,149 | ||||||
4.00%, 3/1/2031 |
135,000 | 132,975 | ||||||
3.25%, 1/31/2032 (a) |
25,000 | 23,500 | ||||||
Chesapeake Energy Corp. 6.75%, 4/15/2029 (a) |
80,000 | 84,576 | ||||||
Chevron Corp. 2.00%, 5/11/2027 |
21,000 | 20,690 | ||||||
CNX Resources Corp. 7.25%, 3/14/2027 (a) |
125,000 | 132,045 | ||||||
Comstock Resources, Inc. 7.50%, 5/15/2025 (a) |
97,000 | 99,215 | ||||||
Continental Resources, Inc. 2.88%, 4/1/2032 (a) |
120,000 | 109,708 | ||||||
Coterra Energy, Inc. 3.90%, 5/15/2027 (a) |
30,000 | 31,260 | ||||||
Crestwood Midstream Partners LP |
||||||||
5.75%, 4/1/2025 |
100,000 | 100,625 | ||||||
8.00%, 4/1/2029(a) |
45,000 | 47,879 | ||||||
DCP Midstream Operating LP 5.38%, 7/15/2025 |
85,000 | 90,024 | ||||||
Diamondback Energy, Inc. 3.25%, 12/1/2026 |
33,000 | 33,703 | ||||||
DT Midstream, Inc. 4.13%, 6/15/2029 (a) |
110,000 | 106,150 | ||||||
Energy Transfer LP |
||||||||
4.25%, 3/15/2023 |
120,000 | 122,297 | ||||||
4.75%, 1/15/2026 |
40,000 | 42,476 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Oil, Gas & Consumable Fuels — continued |
||||||||
4.40%, 3/15/2027 |
40,000 | 41,960 | ||||||
5.50%, 6/1/2027 |
36,000 | 39,684 | ||||||
4.15%, 9/15/2029 |
150,000 | 154,826 | ||||||
5.80%, 6/15/2038 |
100,000 | 110,978 | ||||||
5.35%, 5/15/2045 |
45,000 | 47,564 | ||||||
EnLink Midstream Partners LP |
||||||||
4.40%, 4/1/2024 |
8,000 | 8,148 | ||||||
4.85%, 7/15/2026 |
65,000 | 65,812 | ||||||
5.60%, 4/1/2044 |
9,000 | 7,673 | ||||||
Enterprise Products Operating LLC |
||||||||
2.80%, 1/31/2030 |
37,000 | 36,376 | ||||||
3.30%, 2/15/2053 |
30,000 | 26,287 | ||||||
EQM Midstream Partners LP |
||||||||
4.00%, 8/1/2024 |
85,000 | 83,300 | ||||||
6.50%, 7/1/2027 (a) |
80,000 | 83,671 | ||||||
4.75%, 1/15/2031 (a) |
155,000 | 145,313 | ||||||
EQT Corp. |
||||||||
6.63%, 2/1/2025 (f) |
80,000 | 86,418 | ||||||
3.90%, 10/1/2027 |
85,000 | 85,909 | ||||||
Exxon Mobil Corp. |
||||||||
2.99%, 3/19/2025 |
18,000 | 18,481 | ||||||
3.00%, 8/16/2039 |
65,000 | 62,354 | ||||||
4.23%, 3/19/2040 |
200,000 | 220,193 | ||||||
3.10%, 8/16/2049 |
275,000 | 256,657 | ||||||
Flex Intermediate Holdco LLC |
||||||||
3.36%, 6/30/2031 (a) |
64,000 | 61,197 | ||||||
4.32%, 12/30/2039 (a) |
20,000 | 18,797 | ||||||
Genesis Energy LP 6.25%, 5/15/2026 |
80,000 | 76,800 | ||||||
Gray Oak Pipeline LLC |
||||||||
2.00%, 9/15/2023 (a) |
44,000 | 43,903 | ||||||
2.60%, 10/15/2025 (a) |
42,000 | 41,530 | ||||||
Gulfport Energy Corp. |
||||||||
8.00%, 5/17/2026 (a) |
50,000 | 52,875 | ||||||
Hess Midstream Operations LP |
||||||||
5.63%, 2/15/2026 (a) |
105,000 | 107,625 | ||||||
Kinder Morgan, Inc. 3.25%, 8/1/2050 |
75,000 | 63,043 | ||||||
MEG Energy Corp. (Canada) |
||||||||
6.50%, 1/15/2025 (a) |
4,000 | 4,060 | ||||||
7.13%, 2/1/2027 (a) |
65,000 | 67,805 | ||||||
NGL Energy Operating LLC |
||||||||
7.50%, 2/1/2026 (a) |
95,000 | 95,392 | ||||||
NGPL PipeCo LLC 3.25%, 7/15/2031 (a) |
10,000 | 9,590 | ||||||
NuStar Logistics LP |
||||||||
5.75%, 10/1/2025 |
60,000 | 62,475 | ||||||
5.63%, 4/28/2027 |
20,000 | 20,018 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 57 |
JPMorgan Core Plus Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Oil, Gas & Consumable Fuels — continued |
||||||||
Occidental Petroleum Corp. |
||||||||
8.00%, 7/15/2025 |
105,000 | 118,799 | ||||||
8.88%, 7/15/2030 |
150,000 | 193,950 | ||||||
6.63%, 9/1/2030 |
260,000 | 302,553 | ||||||
Pioneer Natural Resources Co. |
||||||||
1.13%, 1/15/2026 |
50,000 | 47,508 | ||||||
Range Resources Corp. |
||||||||
4.88%, 5/15/2025 |
45,000 | 45,675 | ||||||
8.25%, 1/15/2029 |
90,000 | 98,624 | ||||||
Sabine Pass Liquefaction LLC |
||||||||
5.88%, 6/30/2026 |
385,000 | 426,915 | ||||||
4.50%, 5/15/2030 |
69,000 | 74,436 | ||||||
Southwestern Energy Co. |
||||||||
5.95%, 1/23/2025 (f) |
2,000 | 2,085 | ||||||
7.75%, 10/1/2027 |
55,000 | 58,025 | ||||||
5.38%, 3/15/2030 |
150,000 | 154,875 | ||||||
Spectra Energy Partners LP |
||||||||
4.50%, 3/15/2045 |
15,000 | 15,731 | ||||||
Suncor Energy, Inc. (Canada) |
||||||||
6.80%, 5/15/2038 |
83,000 | 108,627 | ||||||
Sunoco LP |
||||||||
6.00%, 4/15/2027 |
80,000 | 82,579 | ||||||
4.50%, 5/15/2029 |
80,000 | 76,664 | ||||||
Tallgrass Energy Partners LP |
||||||||
7.50%, 10/1/2025 (a) |
45,000 | 47,250 | ||||||
6.00%, 12/31/2030 (a) |
25,000 | 24,079 | ||||||
6.00%, 9/1/2031 (a) |
40,000 | 37,700 | ||||||
Targa Resources Partners LP |
||||||||
5.88%, 4/15/2026 |
100,000 | 103,250 | ||||||
6.88%, 1/15/2029 |
165,000 | 179,588 | ||||||
4.88%, 2/1/2031 |
90,000 | 92,519 | ||||||
Tennessee Gas Pipeline Co. LLC |
||||||||
2.90%, 3/1/2030 (a) |
145,000 | 139,039 | ||||||
TotalEnergies Capital International SA (France) |
||||||||
3.46%, 7/12/2049 |
84,000 | 81,537 | ||||||
3.13%, 5/29/2050 |
80,000 | 73,927 | ||||||
TransCanada PipeLines Ltd. (Canada) |
||||||||
5.10%, 3/15/2049 |
48,000 | 56,292 | ||||||
Valero Energy Corp. 2.15%, 9/15/2027 |
25,000 | 24,273 | ||||||
Western Midstream Operating LP |
||||||||
4.75%, 8/15/2028 |
30,000 | 31,050 | ||||||
Williams Cos., Inc. (The) 5.40%, 3/4/2044 |
50,000 | 55,824 | ||||||
|
|
|||||||
8,954,129 | ||||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Personal Products — 0.1% |
| |||||||
Edgewell Personal Care Co. |
||||||||
5.50%, 6/1/2028 (a) |
100,000 | 100,500 | ||||||
4.13%, 4/1/2029 (a) |
70,000 | 65,728 | ||||||
Estee Lauder Cos., Inc. (The) |
||||||||
2.60%, 4/15/2030 |
158,000 | 156,814 | ||||||
Prestige Brands, Inc. 5.13%, 1/15/2028 (a) |
80,000 | 80,100 | ||||||
|
|
|||||||
403,142 | ||||||||
|
|
|||||||
Pharmaceuticals — 1.0% |
| |||||||
AstraZeneca plc (United Kingdom) |
||||||||
2.13%, 8/6/2050 |
110,000 | 86,829 | ||||||
Bausch Health Americas, Inc. |
||||||||
9.25%, 4/1/2026 (a) |
263,000 | 271,931 | ||||||
8.50%, 1/31/2027 (a) |
88,000 | 89,058 | ||||||
Bausch Health Cos., Inc. |
||||||||
5.50%, 11/1/2025 (a) |
55,000 | 55,194 | ||||||
5.75%, 8/15/2027 (a) |
30,000 | 29,812 | ||||||
5.00%, 1/30/2028 (a) |
30,000 | 25,125 | ||||||
4.88%, 6/1/2028 (a) |
280,000 | 268,960 | ||||||
5.00%, 2/15/2029 (a) |
175,000 | 141,651 | ||||||
Bristol-Myers Squibb Co. |
||||||||
2.95%, 3/15/2032 (g) |
100,000 | 101,295 | ||||||
4.13%, 6/15/2039 |
164,000 | 179,748 | ||||||
2.35%, 11/13/2040 |
20,000 | 17,163 | ||||||
5.00%, 8/15/2045 |
33,000 | 40,393 | ||||||
3.70%, 3/15/2052 (g) |
135,000 | 139,159 | ||||||
Eli Lilly & Co. 2.25%, 5/15/2050 |
70,000 | 58,346 | ||||||
Jazz Securities DAC 4.38%, 1/15/2029 (a) |
200,000 | 198,092 | ||||||
Merck & Co., Inc. 2.75%, 12/10/2051 |
240,000 | 213,913 | ||||||
Organon & Co. 4.13%, 4/30/2028 (a) |
200,000 | 196,722 | ||||||
Par Pharmaceutical, Inc. |
||||||||
7.50%, 4/1/2027 (a) |
80,000 | 80,132 | ||||||
Pfizer, Inc. 2.63%, 4/1/2030 |
30,000 | 30,008 | ||||||
Roche Holdings, Inc. (Switzerland) |
||||||||
2.08%, 12/13/2031 (a) |
400,000 | 380,065 | ||||||
Royalty Pharma plc 1.20%, 9/2/2025 |
16,000 | 15,194 | ||||||
Shire Acquisitions Investments Ireland DAC |
||||||||
3.20%, 9/23/2026 |
45,000 | 46,188 | ||||||
Zoetis, Inc. 2.00%, 5/15/2030 |
35,000 | 32,492 | ||||||
|
|
|||||||
2,697,470 | ||||||||
|
|
|||||||
Real Estate Management & Development — 0.1% |
| |||||||
Kennedy-Wilson, Inc. 4.75%, 3/1/2029 |
75,000 | 73,252 | ||||||
Realogy Group LLC 5.75%, 1/15/2029 (a) |
105,000 | 103,819 | ||||||
|
|
|||||||
177,071 | ||||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
58 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Road & Rail — 0.4% |
| |||||||
Avis Budget Car Rental LLC |
||||||||
4.75%, 4/1/2028 (a) |
95,000 | 90,250 | ||||||
5.38%, 3/1/2029 (a) |
55,000 | 54,105 | ||||||
Burlington Northern Santa Fe LLC |
||||||||
3.55%, 2/15/2050 |
78,000 | 78,271 | ||||||
3.05%, 2/15/2051 |
155,000 | 143,714 | ||||||
Canadian Pacific Railway Co. (Canada) |
||||||||
3.10%, 12/2/2051 |
180,000 | 163,188 | ||||||
CSX Corp. 3.25%, 6/1/2027 |
20,000 | 20,716 | ||||||
Hertz Corp. (The) 4.63%, 12/1/2026 (a) |
105,000 | 100,013 | ||||||
Kansas City Southern 2.88%, 11/15/2029 |
35,000 | 34,771 | ||||||
Norfolk Southern Corp. |
||||||||
3.95%, 10/1/2042 |
50,000 | 52,196 | ||||||
Penske Truck Leasing Co. LP |
||||||||
1.20%, 11/15/2025 (a) |
46,000 | 43,615 | ||||||
Triton Container International Ltd. (Bermuda) 1.15%, 6/7/2024 (a) |
200,000 | 194,600 | ||||||
Uber
Technologies, Inc. |
80,000 | 83,220 | ||||||
|
|
|||||||
1,058,659 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment — 0.2% |
| |||||||
Amkor
Technology, Inc. |
7,000 | 7,315 | ||||||
Analog
Devices, Inc. |
25,000 | 26,310 | ||||||
Broadcom, Inc. |
||||||||
4.11%, 9/15/2028 |
82,000 | 86,154 | ||||||
3.14%, 11/15/2035 (a) |
38,000 | 35,196 | ||||||
Intel Corp. 3.05%, 8/12/2051 |
5,000 | 4,541 | ||||||
KLA Corp. 3.30%, 3/1/2050 |
30,000 | 28,337 | ||||||
Microchip
Technology, Inc. |
25,000 | 24,362 | ||||||
NXP BV (China) |
||||||||
3.25%, 5/11/2041 (a) |
70,000 | 64,014 | ||||||
3.13%, 2/15/2042 (a) |
30,000 | 26,822 | ||||||
ON
Semiconductor Corp. |
75,000 | 74,344 | ||||||
TSMC
Arizona Corp. (Taiwan) |
200,000 | 189,130 | ||||||
Xilinx, Inc. 2.38%, 6/1/2030 |
39,000 | 37,504 | ||||||
|
|
|||||||
604,029 | ||||||||
|
|
|||||||
Software — 0.3% |
| |||||||
Clarivate
Science Holdings Corp. |
85,000 | 80,325 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Software — continued |
| |||||||
NCR Corp. |
||||||||
5.75%, 9/1/2027 (a) |
50,000 | 50,738 | ||||||
6.13%, 9/1/2029 (a) |
106,000 | 110,007 | ||||||
Nuance
Communications, Inc. |
83,000 | 85,298 | ||||||
Oracle Corp. |
||||||||
2.65%, 7/15/2026 |
233,000 | 231,404 | ||||||
2.30%, 3/25/2028 |
15,000 | 14,292 | ||||||
3.80%, 11/15/2037 |
150,000 | 142,557 | ||||||
3.65%, 3/25/2041 |
15,000 | 13,595 | ||||||
3.95%, 3/25/2051 |
15,000 | 13,741 | ||||||
4.38%, 5/15/2055 |
55,000 | 52,158 | ||||||
SS&C
Technologies, Inc. |
100,000 | 102,776 | ||||||
VMware, Inc. 4.65%, 5/15/2027 |
55,000 | 59,559 | ||||||
|
|
|||||||
956,450 | ||||||||
|
|
|||||||
Specialty Retail — 0.5% |
| |||||||
Asbury
Automotive Group, Inc. |
75,000 | 73,712 | ||||||
Bath & Body Works, Inc. |
||||||||
7.50%, 6/15/2029 |
65,000 | 71,232 | ||||||
6.88%, 11/1/2035 |
60,000 | 66,314 | ||||||
Gap, Inc. (The) 3.63%, 10/1/2029 (a) |
130,000 | 117,715 | ||||||
Group
1 Automotive, Inc. |
70,000 | 67,463 | ||||||
Home Depot, Inc. (The) |
||||||||
3.90%, 12/6/2028 |
112,000 | 120,963 | ||||||
4.25%, 4/1/2046 |
151,000 | 166,435 | ||||||
Lithia Motors, Inc. 3.88%, 6/1/2029 (a) |
100,000 | 98,688 | ||||||
Lowe’s Cos., Inc. 1.70%, 10/15/2030 |
170,000 | 152,952 | ||||||
O’Reilly Automotive, Inc. 1.75%, 3/15/2031 |
23,000 | 20,641 | ||||||
Penske
Automotive Group, Inc. |
115,000 | 107,381 | ||||||
PetSmart, Inc. 4.75%, 2/15/2028 (a) |
250,000 | 249,375 | ||||||
SRS
Distribution, Inc. |
90,000 | 86,287 | ||||||
Staples, Inc. |
||||||||
7.50%, 4/15/2026 (a) |
75,000 | 74,152 | ||||||
10.75%, 4/15/2027 (a) |
23,000 | 21,422 | ||||||
|
|
|||||||
1,494,732 | ||||||||
|
|
|||||||
Technology Hardware, Storage & Peripherals — 0.2% |
| |||||||
Apple, Inc. |
||||||||
2.20%, 9/11/2029 |
46,000 | 45,151 | ||||||
4.38%, 5/13/2045 |
129,000 | 147,466 | ||||||
2.85%, 8/5/2061 |
85,000 | 75,517 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 59 |
JPMorgan Core Plus Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Technology Hardware, Storage & Peripherals — continued |
| |||||||
Dell International LLC |
||||||||
4.90%, 10/1/2026 |
30,000 | 32,495 | ||||||
5.30%, 10/1/2029 |
100,000 | 111,522 | ||||||
Xerox Corp. 4.38%, 3/15/2023 (f) |
13,000 | 13,130 | ||||||
|
|
|||||||
425,281 | ||||||||
|
|
|||||||
Textiles, Apparel & Luxury Goods — 0.0% (e) |
| |||||||
Hanesbrands, Inc. |
||||||||
4.63%, 5/15/2024 (a) |
13,000 | 13,179 | ||||||
4.88%, 5/15/2026 (a) |
20,000 | 20,366 | ||||||
|
|
|||||||
33,545 | ||||||||
|
|
|||||||
Thrifts & Mortgage Finance — 0.3% |
| |||||||
BPCE SA (France) 3.50%, 10/23/2027 (a) |
250,000 | 253,100 | ||||||
(SOFR + 1.73%), 3.12%, |
||||||||
10/19/2032 (a) (b) |
250,000 | 235,659 | ||||||
Ladder Capital Finance Holdings LLLP |
||||||||
REIT, 5.25%, 10/1/2025 (a) |
13,000 | 13,032 | ||||||
Nationstar
Mortgage Holdings, Inc. |
115,000 | 116,725 | ||||||
Rocket
Mortgage LLC |
120,000 | 112,366 | ||||||
|
|
|||||||
730,882 | ||||||||
|
|
|||||||
Tobacco — 0.4% |
| |||||||
Altria Group, Inc. |
||||||||
2.45%, 2/4/2032 |
80,000 | 71,423 | ||||||
3.40%, 2/4/2041 |
145,000 | 120,032 | ||||||
3.88%, 9/16/2046 |
95,000 | 81,639 | ||||||
BAT
Capital Corp. (United Kingdom) |
141,000 | 141,907 | ||||||
4.39%, 8/15/2037 |
600,000 | 575,055 | ||||||
Philip Morris International, Inc. |
||||||||
3.13%, 3/2/2028 |
49,000 | 50,285 | ||||||
4.38%, 11/15/2041 |
10,000 | 10,378 | ||||||
4.13%, 3/4/2043 |
100,000 | 100,167 | ||||||
|
|
|||||||
1,150,886 | ||||||||
|
|
|||||||
Trading Companies & Distributors — 0.5% |
| |||||||
Air Lease Corp. |
||||||||
3.38%, 7/1/2025 |
92,000 | 93,071 | ||||||
1.88%, 8/15/2026 |
50,000 | 47,399 | ||||||
Aviation Capital Group LLC |
||||||||
4.13%, 8/1/2025 (a) |
50,000 | 50,970 | ||||||
1.95%, 1/30/2026 (a) |
50,000 | 47,611 | ||||||
Herc
Holdings, Inc. |
565,000 | 579,125 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Trading Companies & Distributors — continued |
| |||||||
Imola
Merger Corp. |
105,000 | 101,829 | ||||||
United Rentals North America, Inc. |
||||||||
5.25%, 1/15/2030 |
240,000 | 249,600 | ||||||
WESCO
Distribution, Inc. |
105,000 | 109,963 | ||||||
|
|
|||||||
1,279,568 | ||||||||
|
|
|||||||
Transportation Infrastructure — 0.0% (e) |
| |||||||
Transurban
Finance Co. Pty. Ltd. (Australia) |
12,000 | 11,291 | ||||||
|
|
|||||||
Wireless Telecommunication Services — 0.2% |
| |||||||
Hughes
Satellite Systems Corp. |
105,000 | 109,362 | ||||||
Sprint Corp. |
||||||||
7.88%, 9/15/2023 |
8,000 | 8,600 | ||||||
7.13%, 6/15/2024 |
30,000 | 32,438 | ||||||
7.63%, 3/1/2026 |
155,000 | 176,710 | ||||||
T-Mobile USA, Inc. |
||||||||
1.50%, 2/15/2026 |
110,000 | 105,620 | ||||||
4.75%, 2/1/2028 |
10,000 | 10,324 | ||||||
2.55%, 2/15/2031 |
95,000 | 89,042 | ||||||
2.25%, 11/15/2031 |
90,000 | 81,492 | ||||||
3.30%, 2/15/2051 |
65,000 | 56,677 | ||||||
|
|
|||||||
670,265 | ||||||||
|
|
|||||||
Total
Corporate Bonds |
|
89,806,992 | ||||||
|
|
|||||||
Asset-Backed Securities — 17.2% |
| |||||||
ACC Trust |
||||||||
Series 2022-1, Class C, 3.24%, 10/20/2025 (a) |
1,000,000 | 987,490 | ||||||
Affirm Asset Securitization Trust |
||||||||
Series 2021-A, Class C, 1.66%, 8/15/2025 ‡ (a) |
500,000 | 497,337 | ||||||
Air Canada Pass-Through Trust (Canada) |
||||||||
Series 2017-1, Class AA, 3.30%, 1/15/2030 (a) |
410,400 | 406,876 | ||||||
Ajax Mortgage Loan Trust |
||||||||
Series 2021-B, Class A, 2.24%, 6/25/2066 (a) (f) |
314,449 | 306,861 | ||||||
American Airlines Pass-Through Trust |
||||||||
Series 2015-2, Class A, 4.00%, 9/22/2027 |
199,660 | 191,985 |
SEE NOTES TO FINANCIAL STATEMENTS.
60 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Asset-Backed Securities — continued |
| |||||||
American Credit Acceptance Receivables Trust |
||||||||
Series 2020-2, Class C, 3.88%, 4/13/2026 (a) |
280,000 | 284,357 | ||||||
American Homes 4 Rent |
||||||||
Series 2015-SFR1, Class E, 5.64%, 4/17/2052 (a) |
150,000 | 157,019 | ||||||
Series 2015-SFR1, Class F, 5.89%, 4/17/2052 ‡ (a) |
400,000 | 413,217 | ||||||
American Homes 4 Rent Trust |
||||||||
Series 2014-SFR3, Class B, 4.20%, 12/17/2036 ‡ (a) |
125,000 | 127,336 | ||||||
Series 2015-SFR2, Class A, 3.73%, 10/17/2052 ‡ (a) |
91,588 | 94,222 | ||||||
AMSR Trust |
||||||||
Series 2020-SFR1, Class E, 3.22%, 4/17/2037 (a) |
500,000 | 492,308 | ||||||
Series 2020-SFR2, Class E2, 4.28%, 7/17/2037 (a) |
375,000 | 376,806 | ||||||
Series 2020-SFR3, Class E2, 2.76%, 9/17/2037 ‡ (a) |
350,000 | 334,028 | ||||||
Series 2020-SFR4, Class E2, 2.46%, 11/17/2037 (a) |
425,000 | 397,295 | ||||||
Series 2022-SFR1, 6.02%, 3/17/2039 (a) |
750,000 | 756,545 | ||||||
Aqua Finance Trust |
||||||||
Series 2019-A, Class B, 3.47%, 7/16/2040 ‡ (a) |
246,000 | 246,050 | ||||||
Avid Automobile Receivables Trust |
||||||||
Series 2019-1, Class D, 4.03%, 7/15/2026 (a) |
300,000 | 304,042 | ||||||
British Airways Pass-Through Trust (United Kingdom) |
||||||||
Series 2013-1, Class A, 4.63%, 6/20/2024 (a) |
150,316 | 154,570 | ||||||
Business Jet Securities LLC |
||||||||
Series 2020-1A, Class A, 2.98%, 11/15/2035 (a) |
459,466 | 457,948 | ||||||
Series 2021-1A, Class A, 2.16%, 4/15/2036 (a) |
144,214 | 138,942 | ||||||
Series 2021-1A, Class B, 2.92%, 4/15/2036 ‡ (a) |
474,133 | 454,574 | ||||||
Series 2021-1A, Class C, 5.07%, 4/15/2036 ‡ (a) |
297,725 | 289,734 | ||||||
CarNow Auto Receivables Trust Series 2021-1A, Class C, 2.16%, 2/17/2026 (a) |
200,000 | 197,751 | ||||||
Carvana Auto Receivables Trust |
||||||||
Series 2020-N1A, Class B, 2.01%, 3/17/2025 (a) |
289,420 | 290,180 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Series 2019-4A, Class D, 3.07%, 7/15/2025 (a) |
110,000 | 111,366 | ||||||
Cascade MH Asset Trust Series 2019-MH1, Class B, 5.00%, 11/25/2044 ‡ (a) (h) |
401,843 | 389,284 | ||||||
CoreVest American Finance Trust |
||||||||
Series 2019-1, Class E, 5.49%, 3/15/2052 ‡ (a) |
551,000 | 574,900 | ||||||
Series 2019-2, Class E, 5.31%, 6/15/2052 ‡ (a) (h) |
650,000 | 650,138 | ||||||
Series 2019-3, Class E, 4.75%, 10/15/2052 ‡ (a) (h) |
570,000 | 552,903 | ||||||
CPS Auto Receivables Trust Series 2020-B, Class C, 3.30%, 4/15/2026 (a) |
393,980 | 396,230 | ||||||
Credit Acceptance Auto Loan Trust Series 2020-1A, Class C, 2.59%, 6/15/2029 (a) |
750,000 | 747,959 | ||||||
CSMC Trust Series 2021-JR1, Class A1, 2.46%, 9/27/2066 (a) (h) |
343,598 | 340,144 | ||||||
DataBank Issuer Series 2021-1A, Class A2, 2.06%, 2/27/2051 (a) |
250,000 | 239,223 | ||||||
Delta Air Lines Pass-Through Trust Series 2019-1, Class AA, 3.20%, 4/25/2024 |
15,000 | 15,280 | ||||||
Diamond Resorts Owner Trust |
||||||||
Series 2021-1A, Class A, 1.51%, 11/21/2033 (a) |
365,785 | 360,532 | ||||||
Series 2021-1A, Class D, 3.83%, 11/21/2033 ‡ (a) |
320,864 | 318,493 | ||||||
Drive Auto Receivables Trust Series 2020-2, Class D, 3.05%, 5/15/2028 |
750,000 | 762,650 | ||||||
DT Auto Owner Trust Series 2020-2A, Class D, 4.73%, 3/16/2026 (a) |
500,000 | 520,635 | ||||||
Elara HGV Timeshare Issuer LLC |
||||||||
Series 2021-A, Class C, 2.09%, 8/27/2035 ‡ (a) |
634,184 | 611,716 | ||||||
Series 2021-A, Class D, 3.32%, 8/27/2035 ‡ (a) |
226,494 | 220,498 | ||||||
Exeter Automobile Receivables Trust |
||||||||
Series 2020-2A, Class C, 3.28%, 5/15/2025 (a) |
250,000 | 252,483 | ||||||
Series 2020-2A, Class D, 4.73%, 4/15/2026 (a) |
400,000 | 414,007 | ||||||
FHF Trust Series 2021-1A, Class A, 1.27%, 3/15/2027 (a) |
359,885 | 354,527 | ||||||
FirstKey Homes Trust |
||||||||
Series 2020-SFR1, Class F1, 3.64%, 8/17/2037 (a) |
500,000 | 482,489 | ||||||
Series 2021-SFR1, Class E1, 2.39%, 8/17/2038 (a) |
500,000 | 465,134 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 61 |
JPMorgan Core Plus Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Asset-Backed Securities — continued |
| |||||||
Series 2021-SFR1, Class F1, 3.24%, 8/17/2038 (a) |
600,000 | 553,431 | ||||||
Series 2021-SFR2, Class E1, 2.26%, 9/17/2038 (a) |
635,000 | 585,035 | ||||||
Series 2021-SFR2, Class E2, 2.36%, 9/17/2038 (a) |
814,000 | 740,381 | ||||||
Flagship Credit Auto Trust |
||||||||
Series 2020-4, Class D, 2.18%, 2/16/2027 (a) |
280,000 | 277,094 | ||||||
Series 2021-4, Class C, 1.96%, 12/15/2027 (a) |
500,000 | 488,836 | ||||||
FNMA, Grantor Trust Series 2017-T1, Class A, 2.90%, 6/25/2027 |
1,094,922 | 1,131,328 | ||||||
Foundation Finance Trust |
||||||||
Series 2020-1A, Class B, 4.62%, 7/16/2040 ‡ (a) |
300,000 | 313,197 | ||||||
Series 2020-1A, Class C, 5.75%, 7/16/2040 ‡ (a) |
150,000 | 157,910 | ||||||
Series 2021-1A, Class C, 2.99%, 5/15/2041 ‡ (a) |
536,000 | 520,896 | ||||||
FREED ABS Trust |
||||||||
Series 2021-2, Class C, 1.94%, 6/19/2028 ‡ (a) |
200,000 | 197,289 | ||||||
Series 2022-1FP, Class D, 3.35%, 3/19/2029 ‡ (a) |
700,000 | 692,923 | ||||||
Genesis Private Label Amortizing Trust Series 2020-1, Class B, 2.83%, 7/20/2030 (a) |
20,353 | 20,348 | ||||||
Genesis Sales Finance Master Trust Series 2020-AA, Class C, 2.99%, 9/22/2025 (a) |
300,000 | 299,324 | ||||||
Hilton Grand Vacations Trust Series 2020-AA, Class C, 6.42%, 2/25/2039 ‡ (a) |
309,531 | 330,579 | ||||||
HIN Timeshare Trust Series 2020-A, Class D, 5.50%, 10/9/2039 ‡ (a) |
125,494 | 127,403 | ||||||
Lendingpoint Asset Securitization Trust Series 2022-A, Class D, 4.54%, 6/15/2029 (a) |
1,000,000 | 991,342 | ||||||
Lendmark Funding Trust |
||||||||
Series 2019-2A, Class C, 3.72%, 4/20/2028 ‡ (a) |
100,000 | 100,806 | ||||||
Series 2019-2A, Class D, 5.24%, 4/20/2028 ‡ (a) |
700,000 | 710,627 | ||||||
LL ABS Trust Series 2020-1A, Class B, 3.79%, 1/17/2028 ‡ (a) |
350,000 | 352,832 | ||||||
LP LMS Asset Securitization Trust 6.17%, 10/15/2028 |
550,000 | 548,625 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mariner Finance Issuance Trust Series 2021-AA, Class D, 3.83%, 3/20/2036 ‡ (a) |
351,000 | 347,318 | ||||||
Mercury Financial Credit Card Master Trust |
||||||||
Series 2021-1A, Class A, 1.54%, 3/20/2026 (a) |
600,000 | 593,754 | ||||||
Series 2021-1A, Class B, 2.33%, 3/20/2026 (a) |
200,000 | 198,485 | ||||||
MVW LLC |
||||||||
Series 2020-1A, Class C, 4.21%, 10/20/2037 ‡ (a) |
189,237 | 190,348 | ||||||
Series 2019-2A, Class B, 2.44%, 10/20/2038 ‡ (a) |
85,711 | 84,870 | ||||||
MVW Owner Trust Series 2019-1A, Class C, 3.33%, 11/20/2036 ‡ (a) |
52,786 | 52,519 | ||||||
New Residential Mortgage Loan Trust |
||||||||
Series 2022-SFR1, Class D, 3.30%, 2/17/2039 ‡ (a) |
340,000 | 329,993 | ||||||
Series 2022-SFR1, Class E1, 3.55%, 2/17/2039 (a) |
420,000 | 404,317 | ||||||
NMEF Funding LLC Series 2021-A, Class C, 2.58%, 12/15/2027 ‡ (a) |
600,000 | 582,351 | ||||||
NRZ Excess Spread-Collateralized Notes |
||||||||
Series 2020-PLS1, Class A, 3.84%, 12/25/2025 (a) |
268,008 | 265,784 | ||||||
Series 2021-FNT1, Class A, 2.98%, 3/25/2026 (a) |
432,479 | 418,858 | ||||||
Series 2021-FNT2, Class A, 3.23%, 5/25/2026 (a) |
246,534 | 237,419 | ||||||
Series 2021-GNT1, Class A, 3.47%, 11/25/2026 (a) |
368,881 | 365,231 | ||||||
NRZ FHT Excess LLC Series 2020-FHT1, Class A, 4.21%, 11/25/2025 (a) |
292,980 | 291,219 | ||||||
Octane Receivables Trust Series 2020-1A, Class C, 2.89%, 3/20/20260 ‡ (a) |
350,000 | 350,069 | ||||||
Oportun Funding LLC Series 2020-1, Class A, 2.20%, 5/15/2024 (a) |
23,395 | 23,410 | ||||||
Oportun Funding XIV LLC |
||||||||
Series 2021-A, Class A, 1.21%, 3/8/2028 (a) |
100,000 | 97,704 | ||||||
Series 2021-A, Class C, 3.44%, 3/8/2028 ‡ (a) |
380,000 | 381,175 | ||||||
Oportun Issuance Trust |
||||||||
Series 2021-B, Class B, 1.96%, 5/8/2031 ‡ (a) |
400,000 | 389,237 | ||||||
Series 2021-B, Class C, 3.65%, 5/8/2031 ‡ (a) |
100,000 | 99,475 |
SEE NOTES TO FINANCIAL STATEMENTS.
62 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Asset-Backed Securities — continued |
||||||||
Pagaya AI Debt Selection Trust Series 2021-1, Class B, 2.13%, 11/15/2027 ‡ (a) |
499,794 | 481,612 | ||||||
Prestige Auto Receivables Trust Series 2018-1A, Class D, 4.14%, 10/15/2024 (a) |
115,000 | 116,278 | ||||||
PRET LLC |
||||||||
Series 2021-NPL6, Class A1, 2.49%, 7/25/2051 ‡ (a) (f) |
866,549 | 848,882 | ||||||
Series 2021-RN3, Class A1, 1.84%, 9/25/2051 ‡ (a) (f) |
952,860 | 925,543 | ||||||
Pretium Mortgage Credit Partners I LLC Series 2021-NPL1, Class A1, 2.24%, 9/27/2060 (a) (f) |
427,725 | 418,904 | ||||||
Progress Residential |
||||||||
Series 2021-SFR3, Class E1, 2.54%, 5/17/2026 ‡ (a) |
450,000 | 418,086 | ||||||
Series 2021-SFR3, Class E2, 2.69%, 5/17/2026 (a) |
645,000 | 600,358 | ||||||
Progress Residential Trust |
||||||||
Series 2020-SFR3, Class E, 2.30%, 10/17/2027 ‡ (a) |
300,000 | 276,541 | ||||||
Series 2022-SFR1, Class E2, 3.99%, 2/17/2029 (a) |
750,000 | 718,352 | ||||||
Series 2020-SFR1, Class E, 3.03%, 4/17/2037 ‡ (a) |
425,000 | 412,511 | ||||||
Series 2020-SFR2, Class D, 3.87%, 6/17/2037 ‡ (a) |
750,000 | 751,219 | ||||||
Series 2021-SFR2, Class E2, 2.65%, 4/19/2038 (a) |
400,000 | 371,365 | ||||||
Series 2021-SFR5, Class E1, 2.21%, 7/17/2038 (a) |
950,000 | 871,709 | ||||||
Series 2021-SFR5, Class E2, 2.36%, 7/17/2038 (a) |
270,000 | 245,825 | ||||||
Series 2021-SFR7, Class E1, 2.59%, 8/17/2040 (a) |
693,000 | 630,165 | ||||||
ReadyCap Lending Small Business Loan Trust Series 2019-2, Class A, 2.75%, 12/27/2044 (a) (h) |
109,593 | 108,868 | ||||||
Regional Management Issuance Trust |
||||||||
Series 2020-1, Class C, 3.80%, 10/15/2030 ‡ (a) |
300,000 | 300,383 | ||||||
Series 2021-1, Class D, 5.07%, 3/17/2031 ‡ (a) |
500,000 | 493,120 | ||||||
Santander Drive Auto Receivables Trust Series 2021-2, Class D, 1.35%, 7/15/2027 |
400,000 | 393,922 | ||||||
Santander Revolving Auto Loan Trust Series 2019-A, Class D, 3.45%, 1/26/2032 (a) |
150,000 | 152,325 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Sierra Timeshare Receivables Funding LLC |
||||||||
Series 2020-2A, Class D, 6.59%, 7/20/2037 ‡ (a) |
931,390 | 954,997 | ||||||
Series 2021-1A, Class D, 3.17%, 11/20/2037 ‡ (a) |
438,871 | 431,393 | ||||||
Small Business Lending Trust Series 2020-A, Class A, 2.62%, 12/15/2026 (a) |
3,238 | 3,239 | ||||||
Tricon American Homes Series 2020-SFR1, Class E, 3.54%, 7/17/2038 ‡ (a) |
300,000 | 290,639 | ||||||
United Airlines Pass-Through Trust |
||||||||
Series 2014-1, Class A, 4.00%, 4/11/2026 |
128,502 | 131,530 | ||||||
Series 2016-2, Class A, 3.10%, 10/7/2028 |
7,886 | 7,692 | ||||||
Series 2018-1, Class A, 3.70%, 3/1/2030 |
12,880 | 12,717 | ||||||
US Airways Pass-Through Trust Series 2011-1, Class A, 7.13%, 10/22/2023 |
14,229 | 14,777 | ||||||
USASF Receivables LLC Series 2020-1A, Class B, 3.22%, 5/15/2024 (a) |
500,000 | 501,861 | ||||||
VCAT LLC |
||||||||
Series 2021-NPL1, Class A1, 2.29%, 12/26/2050 ‡ (a) (f) |
325,429 | 321,047 | ||||||
Series 2021-NPL5, Class A1, 1.87%, 8/25/2051 (a) (f) |
732,050 | 710,864 | ||||||
Veros Auto Receivables Trust Series 2021-1, Class B, 1.49%, 10/15/2026 (a) |
300,000 | 292,770 | ||||||
VOLT XCII LLC Series 2021-NPL1, Class A1, 1.89%, 2/27/2051 (a) (f) |
161,742 | 158,376 | ||||||
VOLT XCIII LLC Series 2021-NPL2, Class A1, 1.89%, 2/27/2051 (a) (f) |
741,287 | 725,673 | ||||||
VOLT XCIV LLC Series 2021-NPL3, Class A1, 2.24%, 2/27/2051 (a) (f) |
244,840 | 240,480 | ||||||
Westgate Resorts LLC |
||||||||
Series 2020-1A, Class C, 6.21%, 3/20/2034 ‡ (a) |
163,315 | 168,561 | ||||||
Series 2022-1A, Class B, 2.29%, 8/20/2036 ‡ (a) |
244,936 | 242,216 | ||||||
Series 2022-1A, Class D, 3.84%, 8/20/2036 ‡ (a) |
979,743 | 967,559 | ||||||
|
|
|||||||
Total
Asset-Backed Securities |
|
47,694,165 | ||||||
|
|
|||||||
Mortgage-Backed Securities — 14.9% |
||||||||
FHLMC Gold Pools, 30 Year Pool # G60855, 4.50%, 12/1/2045 |
86,213 | 90,985 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 63 |
JPMorgan Core Plus Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities — continued |
||||||||
FHLMC Gold Pools, Other Pool # N31271, 4.50%, 1/1/2036 |
17,382 | 18,540 | ||||||
FHLMC UMBS, 30 Year Pool # QA5045, 4.00%, 11/1/2049 |
77,324 | 80,858 | ||||||
FNMA Pool # BS4197, 2.14%, 12/1/2033 |
500,000 | 485,590 | ||||||
FNMA UMBS, 20 Year Pool # MA3004, 4.00%, 5/1/2037 |
427,465 | 452,055 | ||||||
FNMA UMBS, 30 Year |
||||||||
Pool # AL2374, 4.00%, 12/1/2041 |
121,896 | 130,678 | ||||||
Pool # AL4244, 4.00%, 7/1/2042 |
138,730 | 149,022 | ||||||
Pool # BM1164, 3.50%, 12/1/2045 |
96,472 | 100,600 | ||||||
Pool # MA3073, 4.50%, 7/1/2047 |
23,810 | 25,368 | ||||||
Pool # BK4769, 5.00%, 8/1/2048 |
438,181 | 475,322 | ||||||
Pool # BN5013, 5.00%, 1/1/2049 |
142,285 | 157,306 | ||||||
Pool # BO1073, 4.50%, 6/1/2049 |
54,063 | 57,210 | ||||||
Pool # BO3039, 3.00%, 7/1/2049 |
171,052 | 174,005 | ||||||
Pool # BN6475, 4.00%, 7/1/2049 |
30,091 | 31,558 | ||||||
Pool # BO2562, 4.00%, 7/1/2049 |
112,932 | 118,299 | ||||||
Pool # BO4519, 4.00%, 8/1/2049 |
7,999 | 8,383 | ||||||
Pool # BO2203, 3.50%, 9/1/2049 |
298,977 | 308,818 | ||||||
Pool # FM9961, 3.00%, 12/1/2051 |
498,380 | 504,456 | ||||||
Pool # CB2637, 2.50%, 1/1/2052 |
526,990 | 520,563 | ||||||
Pool # BV0273, 3.00%, 1/1/2052 |
319,487 | 324,967 | ||||||
Pool # CB2670, 3.00%, 1/1/2052 |
468,916 | 476,959 | ||||||
Pool # BV3930, 3.00%, 2/1/2052 |
600,000 | 607,833 | ||||||
Pool # BV0295, 3.50%, 2/1/2052 |
688,960 | 722,530 | ||||||
FNMA, Other |
||||||||
Pool # AM8846, 2.68%, 5/1/2025 |
144,359 | 147,584 | ||||||
Pool # AM0414, 2.87%, 9/1/2027 |
400,000 | 412,850 | ||||||
Pool # AN7560, 2.90%, 12/1/2027 |
186,331 | 192,784 | ||||||
Pool # BL2367, 3.48%, 5/1/2029 |
544,947 | 583,516 | ||||||
Pool # BS1577, 1.82%, 2/1/2030 |
868,000 | 842,478 | ||||||
Pool # 387898, 3.71%, 8/1/2030 |
750,000 | 823,250 | ||||||
Pool # BL9645, 1.50%, 1/1/2031 |
100,000 | 93,644 | ||||||
Pool # BL9627, 1.56%, 1/1/2031 |
500,000 | 470,648 | ||||||
Pool # BS1731, 1.82%, 1/1/2031 |
987,923 | 952,363 | ||||||
Pool # BL6367, 1.82%, 4/1/2032 |
330,000 | 315,338 | ||||||
Pool # BL8708, 1.40%, 11/1/2032 |
200,000 | 179,513 | ||||||
Pool # AN9725, 3.76%, 7/1/2033 |
103,997 | 114,519 | ||||||
Pool # BS5018, IO, 2.88%, 10/1/2035 (g) |
750,000 | 761,482 | ||||||
Pool # MA1072, 3.50%, 5/1/2042 |
12,655 | 13,410 | ||||||
Pool # BF0230, 5.50%, 1/1/2058 |
491,358 | 563,108 | ||||||
Pool # BF0497, 3.00%, 7/1/2060 |
72,356 | 73,800 | ||||||
FNMA/FHLMC UMBS, Single Family, 30 Year TBA, 2.50%, 3/25/2052 (g) |
6,325,000 | 6,240,255 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
GNMA II |
||||||||
Pool # CJ7125, ARM, 1.94%, 10/20/2071 (h) |
456,598 | 485,776 | ||||||
Pool # CJ7141, ARM, 1.85%, 11/20/2071 (h) |
455,909 | 482,689 | ||||||
Pool # CE9384, ARM, 1.88%, 11/20/2071 (h) |
735,674 | 781,646 | ||||||
Pool # CE5557, ARM, 2.05%, 11/20/2071 (h) |
99,407 | 106,584 | ||||||
GNMA II, 30 Year |
||||||||
Pool # AJ9020, 4.50%, 10/20/2044 |
34,458 | 35,848 | ||||||
Pool # BB3525, 4.00%, 9/20/2047 |
26,262 | 27,676 | ||||||
Pool # BM2418, 4.00%, 8/20/2049 |
20,385 | 21,681 | ||||||
Pool # BN7049, 4.50%, 8/20/2049 |
170,559 | 184,809 | ||||||
Pool # BP7160, 4.50%, 9/20/2049 |
88,279 | 96,325 | ||||||
Pool # CC9803, 4.00%, 4/20/2051 |
414,320 | 437,273 | ||||||
Pool # MA7534, 2.50%, 8/20/2051 |
5,141,188 | 5,144,889 | ||||||
Pool # MA7705, 2.50%, 11/20/2051 |
6,915,804 | 6,920,802 | ||||||
Pool # CH7863, 3.50%, 12/20/2051 |
714,389 | 762,633 | ||||||
Pool # CI2080, 3.50%, 12/20/2051 |
861,921 | 890,595 | ||||||
Pool # CH0876, 3.00%, 1/20/2052 |
113,402 | 118,298 | ||||||
Pool # CH0877, 3.00%, 1/20/2052 |
279,459 | 290,483 | ||||||
Pool # CH0878, 3.00%, 1/20/2052 |
329,467 | 341,239 | ||||||
Pool # CJ3916, 3.00%, 1/20/2052 |
758,035 | 788,883 | ||||||
Pool # CK2608, 3.00%, 1/20/2052 |
497,997 | 508,371 | ||||||
Pool # CK4909, 3.00%, 1/20/2052 |
99,833 | 102,656 | ||||||
Pool # CK4916, 3.00%, 1/20/2052 |
234,610 | 238,914 | ||||||
Pool # CJ8184, 3.50%, 1/20/2052 |
639,018 | 688,813 | ||||||
Pool # CK4918, 3.50%, 1/20/2052 |
79,871 | 84,509 | ||||||
Pool # CK7137, 4.00%, 1/20/2052 |
496,693 | 520,763 | ||||||
Pool # CK2667, 3.00%, 2/20/2052 |
650,000 | 669,996 | ||||||
Pool # CK2672, 3.50%, 2/20/2052 |
600,000 | 627,403 | ||||||
Maple Estates 4/1/2032 (g) |
500,000 | 504,220 | ||||||
Willow Glen Second 2.44%, 5/1/2031 (g) |
600,000 | 598,998 | ||||||
|
|
|||||||
Total
Mortgage-Backed Securities |
41,265,219 | |||||||
|
|
|||||||
U.S. Treasury Obligations — 13.6% |
||||||||
U.S. Treasury Bonds 4.50%, 8/15/2039 |
865,000 | 1,171,973 | ||||||
1.13%, 5/15/2040 |
709,000 | 589,633 | ||||||
4.38%, 5/15/2040 |
370,000 | 494,485 | ||||||
1.38%, 11/15/2040 |
654,000 | 565,506 | ||||||
4.75%, 2/15/2041 |
718,000 | 1,002,311 | ||||||
2.25%, 5/15/2041 |
2,518,000 | 2,510,033 | ||||||
3.75%, 11/15/2043 |
1,070,000 | 1,336,873 | ||||||
3.38%, 11/15/2048 |
794,000 | 980,404 | ||||||
2.38%, 11/15/2049 |
1,535,000 | 1,591,603 |
SEE NOTES TO FINANCIAL STATEMENTS.
64 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
U.S. Treasury Obligations — continued |
||||||||
2.00%, 2/15/2050 |
1,097,000 | 1,050,506 | ||||||
1.38%, 8/15/2050 |
615,000 | 506,294 | ||||||
1.63%, 11/15/2050 |
700,000 | 613,320 | ||||||
1.88%, 2/15/2051 |
978,000 | 910,457 | ||||||
2.38%, 5/15/2051 |
2,003,000 | 2,088,519 | ||||||
2.25%, 2/15/2052 |
3,860,000 | 3,932,375 | ||||||
U.S. Treasury Notes 2.13%, 2/29/2024 |
156,000 | 157,993 | ||||||
1.13%, 2/28/2025 |
565,000 | 556,525 | ||||||
1.50%, 8/15/2026 |
434,000 | 429,389 | ||||||
1.13%, 10/31/2026 |
5,949,000 | 5,780,755 | ||||||
1.25%, 3/31/2028 |
180,000 | 174,248 | ||||||
1.25%, 4/30/2028 |
4,100,000 | 3,967,070 | ||||||
0.88%, 11/15/2030 |
430,000 | 397,229 | ||||||
1.63%, 5/15/2031 |
932,000 | 915,799 | ||||||
U.S.
Treasury STRIPS Bonds |
2,083,000 | 1,657,645 | ||||||
2.29%, 2/15/2034 (i) |
838,000 | 651,942 | ||||||
1.17%, 8/15/2039 (i) |
1,297,000 | 901,980 | ||||||
2.18%, 11/15/2040 (i) |
1,301,000 | 829,557 | ||||||
2.27%, 8/15/2041 (i) |
207,000 | 128,797 | ||||||
2.23%, 11/15/2041 (i) |
845,000 | 537,679 | ||||||
2.52%, 2/15/2042 (i) |
718,000 | 441,158 | ||||||
1.39%, 2/15/2045 (i) |
649,000 | 377,720 | ||||||
3.43%, 8/15/2048 (i) |
876,000 | 486,397 | ||||||
|
|
|||||||
Total
U.S. Treasury Obligations |
37,736,175 | |||||||
|
|
|||||||
Commercial Mortgage-Backed Securities — 6.8% |
|
|||||||
ACRE Commercial Mortgage Ltd. (Cayman Islands) Series 2021-FL4, Class B, 1.54%, 12/18/2037 ‡ (a) (h) |
250,000 | 248,133 | ||||||
BAMLL Re-REMIC Trust |
||||||||
Series 2014-FRR4, Class BK29, PO, 4/27/2023 (a) |
836,170 | 793,503 | ||||||
Series 2014-FRR5, Class AK37, 2.44%, 1/27/2047 (a) (h) |
770,000 | 751,862 | ||||||
Bancorp Commercial Mortgage Trust Series 2019-CRE6, Class D, 2.46%, 9/15/2036 ‡ (a) (h) |
150,000 | 147,388 | ||||||
BB-UBS Trust |
||||||||
Series 2012-SHOW, Class E, 4.03%, 11/5/2036 ‡ (a) (h) |
225,000 | 211,924 | ||||||
Cascade Funding Mortgage Trust |
||||||||
Series 2021-FRR1, Class DK45, 2/28/2025 ‡ (a) |
380,000 | 315,604 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Series 2021-FRR1, Class CK45, 1.63%, 2/28/2025 ‡ (a) |
500,000 | 456,477 | ||||||
Series 2021-FRR1, Class BK45, 2.32%, 2/28/2025 ‡ (a) |
600,000 | 572,054 | ||||||
Series 2021-FRR1, Class CK54, 2/28/2026 ‡ (a) |
480,000 | 375,632 | ||||||
Series 2021-FRR1, Class DKW1, 2/28/2026 ‡ (a) |
430,000 | 339,089 | ||||||
Series 2021-FRR1, Class BK99, 9/29/2029 ‡ (a) |
400,000 | 244,343 | ||||||
FHLMC Multi-Family WI Certificates Series K142, Class A2, 2.40%, 3/25/2032 |
1,250,000 | 1,243,098 | ||||||
FHLMC, Multi-Family Structured Credit Risk |
||||||||
Series 2021-MN1, Class M1, 2.05%, 1/25/2051 (a) (h) |
426,274 | 412,403 | ||||||
Series 2021-MN1, Class M2, 3.80%, 1/25/2051 (a) (h) |
375,000 | 356,608 | ||||||
Series 2021-MN3, Class M1, 2.35%, 11/25/2051 (a) (h) |
649,144 | 629,603 | ||||||
FHLMC, Multi-Family Structured Pass-Through Certificates |
||||||||
Series KJ08, Class A2, 2.36%, 8/25/2022 |
7,983 | 7,999 | ||||||
Series KW06, Class A2, 3.80%, 6/25/2028 (h) |
1,750,000 | 1,899,636 | ||||||
Series K088, Class A2, 3.69%, 1/25/2029 |
350,000 | 381,095 | ||||||
Series KLU3, Class X1, IO, 1.94%, 1/25/2031 (h) |
3,495,156 | 461,188 | ||||||
Series K128, Class X3, IO, 2.79%, 4/25/2031 (h) |
550,000 | 113,421 | ||||||
Series K-1520, Class X1, IO, 0.47%, 2/25/2036 ‡ (h) |
4,495,410 | 226,121 | ||||||
Series K-1520, Class X3, IO, 3.09%, 4/25/2039 (h) |
550,000 | 175,225 | ||||||
Series Q014, Class X, IO, 2.80%, 10/25/2055 (h) |
1,946,829 | 435,653 | ||||||
FNMA ACES |
||||||||
Series 2017-M3, Class A2, 2.47%, 12/25/2026 (h) |
296,418 | 302,173 | ||||||
Series 2021-M11, Class A2, 1.46%, 3/25/2031 (h) |
300,000 | 280,481 | ||||||
Series 2022-M1, Class A1, 1.67%, 10/25/2031 (h) |
489,392 | 479,887 | ||||||
Series 2021-M3, Class 1A1, 1.00%, 11/25/2033 |
96,084 | 92,328 | ||||||
Series 2021-M3, Class X1, IO, 1.98%, 11/25/2033 (h) |
575,823 | 71,788 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 65 |
JPMorgan Core Plus Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Commercial Mortgage-Backed Securities — continued |
|
|||||||
FNMA, Multi-Family REMIC Trust |
||||||||
Series 2022-M1G, Class A2, 1.53%, 9/25/2031(h) |
700,000 | 649,746 | ||||||
FREMF Mortgage Trust |
||||||||
Series 2015-K720, Class B, 3.38%, 7/25/2022(a)(h) |
180,000 | 180,951 | ||||||
Series 2018-KL3W, Class CW, 4.23%, 8/25/2025(a)(h) |
250,000 | 240,304 | ||||||
Series 2018-KBX1, Class B, 3.58%, 1/25/2026(a)(h) |
500,000 | 491,701 | ||||||
Series 2021-KHG3, Class BFX, 2.48%, 9/25/2028(a) |
1,000,000 | 909,421 | ||||||
Series 2015-K44, Class B, 3.67%, 1/25/2048(a)(h) |
200,000 | 205,368 | ||||||
Series 2015-K45, Class B, 3.59%, 4/25/2048(a)(h) |
100,000 | 101,888 | ||||||
Series 2015-K48, Class B, 3.64%, 8/25/2048(a)(h) |
200,000 | 204,656 | ||||||
Series 2015-K50, Class B, 3.78%, 10/25/2048(a)(h) |
200,000 | 206,293 | ||||||
Series 2015-K51, Class B, 3.95%, 10/25/2048(a)(h) |
175,000 | 181,220 | ||||||
Series 2016-K52, Class B, 3.93%, 1/25/2049(a)(h) |
250,000 | 260,750 | ||||||
Series 2016-K53, Class C, 4.02%, 3/25/2049(a)(h) |
70,000 | 71,256 | ||||||
Series 2017-K729, Class B, 3.67%, 11/25/2049(a)(h) |
300,000 | 306,301 | ||||||
FRR Re-REMIC Trust |
||||||||
Series 2018-C1, Class C720, PO, 8/27/2047‡(a) |
500,000 | 491,231 | ||||||
Series 2018-C1, Class CK43, PO, 2/27/2048‡(a) |
612,660 | 529,887 | ||||||
JPMCC Re-REMIC Trust |
||||||||
Series 2015-FRR2, Class AK39, 2.79%, 8/27/2047(a)(h) |
944,000 | 926,446 | ||||||
MHC Commercial Mortgage Trust |
||||||||
Series 2021-MHC, Class F, 2.79%, 4/15/2038‡(a)(h) |
600,000 | 586,483 | ||||||
PFP Ltd. (Cayman Islands) |
||||||||
Series 2021-7, Class C, 1.78%, 4/14/2038‡(a)(h) |
164,992 | 162,760 | ||||||
Series 2021-7, Class D, 2.53%, 4/14/2038‡(a)(h) |
169,992 | 167,989 | ||||||
|
|
|||||||
TOTAL
COMMERCIAL MORTGAGE-BACKED SECURITIES |
|
18,899,367 | ||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Collateralized Mortgage Obligations — 3.0% |
|
|||||||
Anchor Mortgage Trust |
||||||||
Series 2021-1, Class A2, 3.65%, 10/25/2026(a)(f) |
476,191 | 471,352 | ||||||
Bayview Financing Trust |
||||||||
Series 2021-2F, Class M2, 2.55%, 12/31/2049‡(a)(h) |
233,354 | 233,938 | ||||||
FHLMC, REMIC |
||||||||
Series 2708, Class ZD, 5.50%, 11/15/2033 |
104,790 | 114,969 | ||||||
Series 4302, Class PA, 4.00%, 12/15/2043 |
77,095 | 81,791 | ||||||
Series 4281, Class BC, 4.50%, 12/15/2043(h) |
106,120 | 115,439 | ||||||
FMC GMSR Issuer Trust |
||||||||
Series 2021-GT1, Class B, 4.36%, 7/25/2026‡(a)(h) |
400,000 | 384,428 | ||||||
FNMA, REMIC |
||||||||
Series 2003-7, Class FA, 0.94%, 2/25/2033(h) |
101,641 | 103,470 | ||||||
Series 2013-108, Class GU, 3.00%, 10/25/2033 |
545,000 | 561,002 | ||||||
Series 2005-110, Class TY, 5.50%, 12/25/2035 |
60,991 | 68,110 | ||||||
Series 2007-89, Class F, 0.77%, 9/25/2037(h) |
115,093 | 116,654 | ||||||
Series 2011-112, Class PB, 4.00%, 11/25/2041 |
132,036 | 138,781 | ||||||
GNMA |
||||||||
Series 2010-H24, Class FA, 0.45%, 10/20/2060(h) |
77,864 | 77,760 | ||||||
Series 2014-H03, Class FA, 0.70%, 1/20/2064(h) |
64,125 | 64,295 | ||||||
Series 2015-H05, Class FC, |
||||||||
0.58%, 2/20/2065(h) |
279,633 | 279,870 | ||||||
Home RE Ltd. (Bermuda) |
||||||||
Series 2021-2, Class M1A, 1.30%, 1/25/2034‡(a)(h) |
235,000 | 233,753 | ||||||
LHOME Mortgage Trust |
||||||||
Series 2021-RTL1, Class A1, 2.09%, 9/25/2026(a)(h) |
255,000 | 248,782 | ||||||
PMT Credit Risk Transfer Trust |
||||||||
Series 2021-1R, Class A, 3.09%, 2/27/2024(a)(h) |
287,760 | 292,105 | ||||||
PRPM LLC |
||||||||
Series 2021-2, Class A1, 2.12%, 3/25/2026(a)(h) |
200,216 | 196,567 |
SEE NOTES TO FINANCIAL STATEMENTS.
66 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Collateralized Mortgage Obligations — continued |
|
|||||||
RCO VI Mortgage LLC |
||||||||
Series 2022-1, Class A1, 3.00%, 1/25/2027 (a) (f) |
600,000 | 591,853 | ||||||
Seasoned Credit Risk Transfer Trust |
||||||||
Series 2018-1, Class M60C, 3.50%, 5/25/2057 |
180,019 | 185,482 | ||||||
Series 2018-3, Class MA, 3.50%, 8/25/2057 ‡ (h) |
74,128 | 76,233 | ||||||
Series 2018-3, Class M55D, 4.00%, 8/25/2057 ‡ (h) |
319,577 | 335,330 | ||||||
Series 2018-2, Class M55D, 4.00%, 11/25/2057 |
359,272 | 376,560 | ||||||
Series 2019-1, Class MA, 3.50%, 7/25/2058 ‡ |
144,089 | 148,475 | ||||||
Series 2019-2, Class MA, 3.50%, 8/25/2058 ‡ |
167,299 | 172,662 | ||||||
Series 2020-3, Class M5TW, 3.00%, 5/25/2060 ‡ |
579,148 | 591,335 | ||||||
Series 2020-3, Class TTW, 3.00%, 5/25/2060 ‡ |
592,374 | 602,386 | ||||||
Series 2021-1, Class BXS, 13.64%, 9/25/2060 ‡ (a) (h) |
150,000 | 139,905 | ||||||
Towd Point Mortgage Trust |
||||||||
Series 2021-R1, Class A2C, 3.31%, 11/30/2060 (a) |
754,000 | 748,130 | ||||||
VOLT CV LLC |
||||||||
Series 2021-CF2, Class A1, 2.49%, 11/27/2051 (a) (f) |
469,262 | 463,222 | ||||||
|
|
|||||||
Total
Collateralized Mortgage Obligations |
|
8,214,639 | ||||||
|
|
|||||||
SHARES | ||||||||
Common Stocks — 0.0% (e) |
| |||||||
Diversified Telecommunication Services — 0.0% (e) |
| |||||||
Intelsat Emergence SA (Luxembourg) * ‡ |
270 | 9,180 | ||||||
|
|
|||||||
Oil, Gas & Consumable Fuels — 0.0%(e) |
| |||||||
Chesapeake Energy Corp. |
23 | 1,777 | ||||||
EP Energy Corp. * |
275 | 25,987 | ||||||
Oasis Petroleum, Inc. |
109 | 14,444 | ||||||
|
|
|||||||
42,208 | ||||||||
|
|
|||||||
Professional Services — 0.0% (e) |
| |||||||
NMG, Inc. * |
1 | 165 | ||||||
|
|
|||||||
TOTAL
COMMON STOCKS |
|
51,553 | ||||||
|
|
|||||||
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds — 0.0% (e) (j) |
| |||||||
Ohio — 0.0% (e) |
| |||||||
Ohio University, General Receipts, Federally Taxable Rev., 5.59%, 12/1/2114 (Cost $32,781) |
25,000 | 37,114 | ||||||
|
|
|||||||
NO. OF WARRANTS |
||||||||
Warrants—0.0% (e) |
| |||||||
Diversified Telecommunication Services — 0.0% (e) |
| |||||||
Windstream Holdings, Inc. expiring 12/31/2049, price 10.75 USD * ‡ |
16 | 184 | ||||||
|
|
|||||||
Media — 0.0% (e) |
| |||||||
Nmg Research Ltd. expiring 9/24/2027, price 1.00 USD (United Kingdom) * ‡ |
78 | 1,677 | ||||||
|
|
|||||||
Oil, Gas & Consumable Fuels — 0.0% (e) |
| |||||||
Chesapeake Energy Corp. expiring 2/9/2026, price 31.49 USD * |
79 | 3,767 | ||||||
expiring 2/9/2026, price 27.08 USD * |
71 | 3,674 | ||||||
expiring 2/9/2026, price 35.46 USD * |
44 | 1,914 | ||||||
|
|
|||||||
9,355 | ||||||||
|
|
|||||||
Total
Warrants |
|
11,216 | ||||||
|
|
|||||||
SHARES | ||||||||
Preferred Stocks — 0.0% (e) |
| |||||||
Internet & Direct Marketing Retail — 0.0% (e) |
| |||||||
MYT Holding LLC, |
||||||||
Series A, 10.00%, 6/6/2029 ‡ (Cost $2,753) |
2,868 | 5,377 | ||||||
|
|
|||||||
NO. OF RIGHTS |
||||||||
Rights — 0.0% (e) |
| |||||||
Diversified Telecommunication Services — 0.0% (e) |
| |||||||
Intelsat
Jackson Holdings SA, expiring 12/5/2025 (Luxembourg) * ‡ |
56 | 1 | ||||||
|
|
|||||||
SHARES | ||||||||
Short-Term Investments — 12.9% |
| |||||||
Investment Companies — 12.9% |
| |||||||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 0.03% (k) (l) (Cost $35,701,290) |
35,701,290 | 35,701,290 | ||||||
|
|
|||||||
Total
Investments — 100.9% |
|
279,423,108 | ||||||
Liabilities
in Excess of |
|
(2,569,176) | ||||||
|
|
|||||||
NET ASSETS — 100.0% |
|
276,853,932 | ||||||
|
|
Percentages indicated are based on net assets.
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 67 |
JPMorgan Core Plus Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
Abbreviations
| ||
ABS | Asset-Backed Securities | |
ACES | Alternative Credit Enhancement Securities | |
ARM | Adjustable Rate Mortgage. The interest rate shown is the rate in effect as of February 28, 2022. | |
CSMC | Credit Suisse Mortgage Trust | |
FHLMC | Federal Home Loan Mortgage Corp. | |
FNMA | Federal National Mortgage Association | |
GNMA | Government National Mortgage Association | |
ICE | Intercontinental Exchange | |
IO | Interest Only represents the right to receive the monthly interest payments on an underlying pool of mortgage loans. The principal amount shown represents the par value on the underlying pool. The yields on these securities are subject to accelerated principal paydowns as a result of prepayment or refinancing of the underlying pool of mortgage instruments. As a result, interest income may be reduced considerably. | |
LIBOR | London Interbank Offered Rate | |
OYJ | Public Limited Company | |
PO | Principal Only represents the right to receive the principal portion only on an underlying pool of mortgage loans. The market value of these securities is extremely volatile in response to changes in market interest rates. As prepayments on the underlying mortgages of these securities increase, the yield on these securities increases. | |
REIT | Real Estate Investment Trust | |
REMIC | Real Estate Mortgage Investment Conduit | |
Re-REMIC | Combined Real Estate Mortgage Investment Conduit | |
Rev. | Revenue | |
SCA | Limited partnership with share capital | |
SOFR | Secured Overnight Financing Rate | |
STRIPS | Separate Trading of Registered Interest and Principal of Securities. The STRIPS Program lets investors hold and trade individual interest and principal components of eligible notes and bonds as separate securities. |
TBA | To Be Announced; Security is subject to delayed delivery. | |
UMBS | Uniform Mortgage-Backed Securities | |
USD | United States Dollar | |
(a) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. | |
(b) | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of February 28, 2022. | |
(c) | Security is perpetual and thus, does not have a predetermined maturity date. The coupon rate for this security is fixed for a period of time and may be structured to adjust thereafter. The date shown, if applicable, reflects the next call date. The coupon rate shown is the rate in effect as of February 28, 2022. | |
(d) | Security is an interest bearing note with preferred security characteristics. | |
(e) | Amount rounds to less than 0.1% of net assets. | |
(f) | Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future contingent upon a predetermined trigger. The interest rate shown is the current rate as of February 28, 2022. | |
(g) | All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment. | |
(h) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of February 28, 2022. | |
(i) | The rate shown is the effective yield as of February 28, 2022. | |
(j) | The date shown represents the earliest of the prerefunded date, next put date or final maturity date. | |
(k) | 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. | |
(l) | The rate shown is the current yield as of February 28, 2022. | |
* | Non-income producing security. | |
‡ | Value determined using significant unobservable inputs. |
SEE NOTES TO FINANCIAL STATEMENTS.
68 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
Futures contracts outstanding as of February 28, 2022: | ||||||||||||||||||||
DESCRIPTION | NUMBER OF CONTRACTS |
EXPIRATION DATE |
TRADING CURRENCY |
NOTIONAL AMOUNT ($) |
VALUE
AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
|||||||||||||||
Long Contracts |
||||||||||||||||||||
U.S. Treasury 2 Year Note |
72 | 06/2022 | USD | 15,487,312 | 23,594 | |||||||||||||||
U.S. Treasury 5 Year Note |
13 | 06/2022 | USD | 1,537,148 | (127 | ) | ||||||||||||||
U.S. Treasury 10 Year Note |
23 | 06/2022 | USD | 2,930,703 | 10,256 | |||||||||||||||
U.S. Treasury 10 Year Ultra Note |
9 | 06/2022 | USD | 1,272,938 | 2,559 | |||||||||||||||
U.S. Treasury Long Bond |
12 | 06/2022 | USD | 1,883,250 | 13,443 | |||||||||||||||
U.S. Treasury Ultra Bond |
13 | 06/2022 | USD | 2,425,313 | 22,128 | |||||||||||||||
|
|
|||||||||||||||||||
71,853 | ||||||||||||||||||||
|
|
|||||||||||||||||||
Short Contracts |
|
|||||||||||||||||||
U.S. Treasury 5 Year Note |
(1 | ) | 06/2022 | USD | (118,242 | ) | (471 | ) | ||||||||||||
U.S. Treasury 10 Year Note |
(2 | ) | 06/2022 | USD | (254,844 | ) | (1,614 | ) | ||||||||||||
U.S. Treasury 10 Year Ultra Note |
(3 | ) | 06/2022 | USD | (424,312 | ) | (4,108 | ) | ||||||||||||
|
|
|||||||||||||||||||
(6,193 | ) | |||||||||||||||||||
|
|
|||||||||||||||||||
65,660 | ||||||||||||||||||||
|
|
Abbreviations | ||
USD |
United States Dollar |
Forward foreign currency exchange contracts outstanding as of February 28, 2022: | ||||||||||||||||||||
CURRENCY PURCHASED | CURRENCY SOLD | COUNTERPARTY | SETTLEMENT DATE |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
||||||||||||||||
BRL | 4,056,003 | USD | 764,995 | Citibank, NA** | 3/15/2022 | 19,545 | ||||||||||||||
CAD | 974,911 | USD | 769,093 | Goldman Sachs International | 3/15/2022 | 111 | ||||||||||||||
CNY | 4,905,512 | USD | 769,093 | Standard Chartered Bank** | 3/15/2022 | 6,562 | ||||||||||||||
MXN | 15,832,621 | USD | 769,093 | Goldman Sachs International | 3/15/2022 | 2,182 | ||||||||||||||
USD | 770,773 | CAD | 974,911 | Goldman Sachs International | 3/15/2022 | 1,570 | ||||||||||||||
USD | 776,024 | ZAR | 11,693,937 | State Street Corp. | 3/15/2022 | 16,805 | ||||||||||||||
|
|
|||||||||||||||||||
Total unrealized appreciation | 46,775 | |||||||||||||||||||
|
|
|||||||||||||||||||
USD | 774,401 | BRL | 4,056,003 | Standard Chartered Bank** | 3/15/2022 | (10,139 | ) | |||||||||||||
USD | 769,998 | CNY | 4,905,512 | BNP Paribas** | 3/15/2022 | (5,657 | ) | |||||||||||||
USD | 770,605 | MXN | 15,832,621 | Citibank, NA | 3/15/2022 | (669 | ) | |||||||||||||
ZAR | 11,109,841 | USD | 730,923 | Citibank, NA | 3/15/2022 | (9,626 | ) | |||||||||||||
ZAR | 584,096 | USD | 38,170 | Goldman Sachs International | 3/15/2022 | (248 | ) | |||||||||||||
|
|
|||||||||||||||||||
Total unrealized depreciation | (26,339 | ) | ||||||||||||||||||
|
|
|||||||||||||||||||
Net unrealized appreciation | 20,436 | |||||||||||||||||||
|
|
Abbreviations | ||
BRL |
Brazilian Real | |
CAD |
Canadian Dollar | |
CNY |
China Yuan | |
MXN |
Mexican Peso | |
USD |
United States Dollar | |
ZAR |
South African Rand | |
** |
Non-deliverable forward. |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 69 |
JPMorgan Core Plus Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
Centrally Cleared Credit default swap contracts outstanding — buy protection(a) as of February 28, 2022: | ||||||||||||||||||||||||||||||||
Reference Obligation/Index | Financing Rate Paid by the Fund (%) |
Payment Frequency |
Maturity Date |
Implied Credit Spread (%)(b) |
Notional Amount(c) |
Upfront Payments (Receipts) ($)(d) |
Unrealized Appreciation (Depreciation) ($) |
Value ($) | ||||||||||||||||||||||||
CDX.NA.HY.37-V1 |
5.00 | Quarterly | 12/20/2026 | 3.64 | USD 1,536,000 | (78,735) | (22,996) | (101,731) | ||||||||||||||||||||||||
CDX.NA.HY.37-V1 |
5.00 | Quarterly | 12/20/2026 | 3.64 | USD 1,024,000 | (53,761) | (14,061) | (67,822) | ||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||
(132,496) | (37,057) | (169,553) | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
(a) |
The Fund, as a buyer of credit protection, is generally obligated to make periodic payments and may also pay or receive an upfront premium to or from the protection seller, in exchange for the right to receive a contingent payment, upon occurrence of a credit event with respect to an underlying reference obligation, as defined under the terms of individual swap contracts. |
(b) |
Implied credit spreads are an indication of the seller’s performance risk, related to the likelihood of a credit event occurring that would require a seller to make payment to a buyer. Implied credit spreads are used to determine the value of swap contracts and reflect the cost of buying/selling protection, which may include upfront payments made to enter into the contract. Therefore, higher spreads would indicate a greater likelihood that a seller will be obligated to perform (i.e. make payment) under the swap contract. Increasing values, in absolute terms and relative to notional amounts, are also indicative of greater performance risk. Implied credit spreads for credit default swaps on credit indices are linked to the weighted average spread across the underlying reference obligations included in a particular index. |
(c) |
The notional amount is the maximum amount that a seller of credit protection would be obligated to pay and a buyer of credit protection would receive, upon occurrence of a credit event. |
(d) |
Upfront payments and receipts generally represent premiums paid or received at the initiation of the agreement to compensate the differences between the stated terms of the swap agreement and current market conditions (credit spreads, interest rates and other relevant factors). |
Abbreviations | ||
CDX |
Credit Default Swap Index | |
USD |
United States Dollar |
SEE NOTES TO FINANCIAL STATEMENTS.
70 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
JPMorgan Corporate Bond Research Enhanced ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — 98.9% |
| |||||||
Aerospace & Defense — 4.4% |
| |||||||
BAE Systems plc (United Kingdom) |
||||||||
3.40%, 4/15/2030(a) |
35,000 | 35,731 | ||||||
Boeing Co. (The) |
||||||||
4.51%, 5/1/2023 |
190,000 | 195,224 | ||||||
4.88%, 5/1/2025 |
189,000 | 200,923 | ||||||
5.04%, 5/1/2027 |
181,000 | 196,629 | ||||||
5.15%, 5/1/2030 |
126,000 | 139,172 | ||||||
3.60%, 5/1/2034 |
159,000 | 154,115 | ||||||
5.71%, 5/1/2040 |
105,000 | 122,314 | ||||||
3.75%, 2/1/2050 |
30,000 | 27,876 | ||||||
L3Harris Technologies, Inc. |
||||||||
4.40%, 6/15/2028 |
174,000 | 187,719 | ||||||
Leidos, Inc. |
||||||||
4.38%, 5/15/2030 |
238,000 | 252,690 | ||||||
2.30%, 2/15/2031 |
140,000 | 126,081 | ||||||
Northrop Grumman Corp. |
||||||||
3.25%, 1/15/2028 |
90,000 | 91,950 | ||||||
4.03%, 10/15/2047 |
41,000 | 43,239 | ||||||
Precision Castparts Corp. |
||||||||
3.25%, 6/15/2025 |
24,000 | 24,862 | ||||||
Raytheon Technologies Corp. |
||||||||
3.50%, 3/15/2027 |
63,000 | 65,932 | ||||||
3.13%, 5/4/2027 |
146,000 | 150,166 | ||||||
4.45%, 11/16/2038 |
107,000 | 119,209 | ||||||
3.75%, 11/1/2046 |
88,000 | 88,935 | ||||||
2.82%, 9/1/2051 |
60,000 | 52,218 | ||||||
|
|
|||||||
2,274,985 | ||||||||
|
|
|||||||
Air Freight & Logistics — 0.6% |
| |||||||
FedEx Corp. |
||||||||
2.40%, 5/15/2031 |
60,000 | 57,045 | ||||||
3.25%, 5/15/2041 |
160,000 | 149,545 | ||||||
4.05%, 2/15/2048 |
90,000 | 91,832 | ||||||
|
|
|||||||
298,422 | ||||||||
|
|
|||||||
Auto Components — 0.4% |
| |||||||
Lear Corp. |
||||||||
3.80%, 9/15/2027 |
190,000 | 197,821 | ||||||
|
|
|||||||
Automobiles — 0.7% |
| |||||||
General Motors Co. |
||||||||
6.13%, 10/1/2025 |
314,000 | 347,445 | ||||||
|
|
|||||||
Banks — 17.3% |
| |||||||
Bank of America Corp. |
||||||||
(ICE LIBOR USD 3 Month + 0.79%), 3.00%, 12/20/2023 (b) |
527,000 | 531,684 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Banks — continued |
| |||||||
(ICE LIBOR USD 3 Month + 0.78%), 3.55%, 3/5/2024 (b) |
146,000 | 148,313 | ||||||
(ICE LIBOR USD 3 Month + 0.87%), 2.46%, 10/22/2025(b) |
30,000 | 29,925 | ||||||
(SOFR + 1.15%), 1.32%, 6/19/2026 (b) |
60,000 | 57,329 | ||||||
(ICE LIBOR USD 3 Month + 1.06%), 3.56%, 4/23/2027 (b) |
154,000 | 158,086 | ||||||
(ICE LIBOR USD 3 Month + 1.58%), 3.82%, 1/20/2028 (b) |
146,000 | 152,013 | ||||||
(ICE LIBOR USD 3 Month + 1.04%), 3.42%, 12/20/2028 (b) |
275,000 | 281,143 | ||||||
(ICE LIBOR USD 3 Month + 0.99%), 2.50%, 2/13/2031 (b) |
237,000 | 225,693 | ||||||
(SOFR + 1.32%), 2.69%, 4/22/2032 (b) |
60,000 | 57,706 | ||||||
(ICE LIBOR USD 3 Month + 1.81%), 4.24%, 4/24/2038 (b) |
156,000 | 170,008 | ||||||
(SOFR + 1.93%), 2.68%, 6/19/2041 (b) |
50,000 | 43,904 | ||||||
(SOFR + 1.58%), 3.31%, 4/22/2042 (b) |
70,000 | 67,088 | ||||||
(ICE LIBOR USD 3 Month + 1.19%), 3.95%, 1/23/2049 (b) |
50,000 | 52,216 | ||||||
(ICE LIBOR USD 3 Month + 3.15%), 4.08%, 3/20/2051 (b) |
78,000 | 83,691 | ||||||
Citigroup, Inc. |
||||||||
(ICE LIBOR USD 3 Month + 0.95%), 2.88%, 7/24/2023 (b) |
247,000 | 248,353 | ||||||
(ICE LIBOR USD 3 Month + 0.90%), 3.35%, 4/24/2025 (b) |
428,000 | 436,560 | ||||||
(SOFR + 2.84%), 3.11%, 4/8/2026 (b) |
78,000 | 79,021 | ||||||
3.20%, 10/21/2026 |
297,000 | 302,823 | ||||||
(ICE LIBOR USD 3 Month + 1.39%), 3.67%, 7/24/2028 (b) |
76,000 | 78,644 | ||||||
(SOFR + 1.15%), 2.67%, 1/29/2031 (b) |
107,000 | 103,161 | ||||||
(SOFR + 3.91%), 4.41%, 3/31/2031 (b) |
156,000 | 169,021 | ||||||
(ICE LIBOR USD 3 Month + 1.17%), 3.88%, 1/24/2039 (b) |
87,000 | 90,636 | ||||||
4.65%, 7/23/2048 |
78,000 | 91,176 | ||||||
Citizens Financial Group, Inc. |
||||||||
4.30%, 12/3/2025 |
160,000 | 168,479 | ||||||
3.25%, 4/30/2030 |
150,000 | 151,863 | ||||||
HSBC Holdings plc (United Kingdom) |
||||||||
(ICE LIBOR USD 3 Month + 1.61%), 3.97%, 5/22/2030 (b) |
200,000 | 206,323 | ||||||
6.10%, 1/14/2042 |
75,000 | 98,596 | ||||||
Huntington Bancshares, Inc. |
||||||||
2.63%, 8/6/2024 |
63,000 | 63,533 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 71 |
JPMorgan Corporate Bond Research Enhanced ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Banks — continued |
||||||||
Mitsubishi UFJ Financial Group, Inc. (Japan) |
||||||||
3.76%, 7/26/2023 |
228,000 | 234,112 | ||||||
3.68%, 2/22/2027 |
31,000 | 32,436 | ||||||
3.96%, 3/2/2028 |
119,000 | 125,631 | ||||||
3.74%, 3/7/2029 |
231,000 | 241,850 | ||||||
NatWest Group plc (United Kingdom) |
||||||||
6.13%, 12/15/2022 |
449,000 | 463,886 | ||||||
6.00%, 12/19/2023 |
229,000 | 242,910 | ||||||
5.13%, 5/28/2024 |
351,000 | 369,664 | ||||||
PNC Financial Services Group, Inc. (The) |
||||||||
3.90%, 4/29/2024 |
13,000 | 13,523 | ||||||
2.60%, 7/23/2026 |
253,000 | 256,499 | ||||||
3.15%, 5/19/2027 |
23,000 | 23,827 | ||||||
Sumitomo Mitsui Financial Group, Inc. (Japan) |
||||||||
2.63%, 7/14/2026 |
238,000 | 238,437 | ||||||
3.36%, 7/12/2027 |
77,000 | 79,506 | ||||||
2.93%, 9/17/2041 |
200,000 | 179,767 | ||||||
Truist Financial Corp. |
||||||||
1.13%, 8/3/2027 |
90,000 | 83,489 | ||||||
US Bancorp |
||||||||
Series V, 2.38%, 7/22/2026 |
129,000 | 130,049 | ||||||
Wells Fargo & Co. |
||||||||
3.75%, 1/24/2024 |
146,000 | 150,517 | ||||||
(SOFR + 1.09%), 2.41%, 10/30/2025(b) |
88,000 | 87,715 | ||||||
(SOFR + 2.00%), 2.19%, 4/30/2026 (b) |
107,000 | 105,587 | ||||||
3.00%, 10/23/2026 |
188,000 | 190,356 | ||||||
4.30%, 7/22/2027 |
88,000 | 93,907 | ||||||
(ICE LIBOR USD 3 Month + 1.31%), 3.58%, 5/22/2028 (b) |
276,000 | 284,995 | ||||||
(SOFR + 1.43%), 2.88%, 10/30/2030 (b) |
202,000 | 198,786 | ||||||
3.90%, 5/1/2045 |
117,000 | 121,347 | ||||||
4.75%, 12/7/2046 |
68,000 | 76,316 | ||||||
Westpac Banking Corp. (Australia) |
||||||||
2.85%, 5/13/2026 |
241,000 | 247,261 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.35%), 2.89%, 2/4/2030 (b) |
100,000 | 98,791 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.00%), 4.11%, 7/24/2034 (b) |
107,000 | 110,481 | ||||||
2.96%, 11/16/2040 |
71,000 | 62,837 | ||||||
|
|
|||||||
8,891,470 | ||||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Beverages — 2.2% |
| |||||||
Anheuser-Busch Cos. LLC (Belgium) |
||||||||
3.65%, 2/1/2026 |
51,000 | 53,275 | ||||||
4.70%, 2/1/2036 |
77,000 | 85,815 | ||||||
4.90%, 2/1/2046 |
160,000 | 180,794 | ||||||
Anheuser-Busch InBev Worldwide, Inc. (Belgium) |
||||||||
4.00%, 4/13/2028 |
49,000 | 52,187 | ||||||
4.90%, 1/23/2031 |
34,000 | 38,981 | ||||||
4.60%, 4/15/2048 |
213,000 | 233,514 | ||||||
4.44%, 10/6/2048 |
39,000 | 41,730 | ||||||
Coca-Cola Co. (The) |
||||||||
1.75%, 9/6/2024 |
68,000 | 68,083 | ||||||
2.60%, 6/1/2050 |
106,000 | 92,988 | ||||||
Constellation Brands, Inc. |
||||||||
3.15%, 8/1/2029 |
66,000 | 66,034 | ||||||
Keurig Dr Pepper, Inc. |
||||||||
3.80%, 5/1/2050 |
20,000 | 19,676 | ||||||
Molson Coors Beverage Co. |
||||||||
4.20%, 7/15/2046 |
30,000 | 29,825 | ||||||
PepsiCo, Inc. |
||||||||
2.75%, 3/19/2030 |
107,000 | 107,217 | ||||||
3.50%, 3/19/2040 |
66,000 | 68,618 | ||||||
|
|
|||||||
1,138,737 | ||||||||
|
|
|||||||
Biotechnology — 3.2% |
| |||||||
AbbVie, Inc. |
||||||||
2.90%, 11/6/2022 |
105,000 | 106,040 | ||||||
3.60%, 5/14/2025 |
68,000 | 70,235 | ||||||
2.95%, 11/21/2026 |
122,000 | 124,208 | ||||||
4.25%, 11/14/2028 |
192,000 | 207,313 | ||||||
4.05%, 11/21/2039 |
161,000 | 168,991 | ||||||
4.70%, 5/14/2045 |
68,000 | 75,374 | ||||||
4.25%, 11/21/2049 |
73,000 | 77,623 | ||||||
Amgen, Inc. |
||||||||
2.20%, 2/21/2027 |
68,000 | 67,094 | ||||||
2.45%, 2/21/2030 |
63,000 | 60,791 | ||||||
3.15%, 2/21/2040 |
40,000 | 37,373 | ||||||
4.40%, 5/1/2045 |
20,000 | 21,250 | ||||||
3.38%, 2/21/2050 |
20,000 | 18,335 | ||||||
4.40%, 2/22/2062 |
86,000 | 90,421 | ||||||
Biogen, Inc. |
||||||||
3.15%, 5/1/2050 |
80,000 | 65,368 | ||||||
Gilead Sciences, Inc. |
||||||||
3.65%, 3/1/2026 |
58,000 | 60,481 | ||||||
4.15%, 3/1/2047 |
247,000 | 258,859 |
SEE NOTES TO FINANCIAL STATEMENTS.
72 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Biotechnology — continued |
||||||||
Regeneron
Pharmaceuticals, Inc. |
140,000 | 125,047 | ||||||
|
|
|||||||
1,634,803 | ||||||||
|
|
|||||||
Building Products — 0.0% (c) |
| |||||||
Carrier Global Corp. |
||||||||
3.58%, 4/5/2050 |
20,000 | 19,021 | ||||||
|
|
|||||||
Capital Markets — 5.4% |
| |||||||
Charles
Schwab Corp. (The) |
146,000 | 134,516 | ||||||
CME Group, Inc. 3.00%, 3/15/2025 |
109,000 | 111,838 | ||||||
Credit Suisse Group AG (Switzerland) |
||||||||
(ICE LIBOR USD 3 Month + 1.24%), 4.21%, 6/12/2024 (a)(b) |
250,000 | 256,204 | ||||||
Goldman
Sachs Group, Inc. (The) |
242,000 | 250,577 | ||||||
3.50%, 4/1/2025 |
130,000 | 133,626 | ||||||
3.85%, 1/26/2027 |
91,000 | 94,799 | ||||||
(ICE
LIBOR USD 3 Month + 1.30%), |
249,000 | 263,958 | ||||||
3.80%, 3/15/2030 |
226,000 | 235,413 | ||||||
(SOFR
+ 1.25%), 2.38%, |
53,000 | 49,129 | ||||||
(ICE
LIBOR USD 3 Month + 1.37%), |
287,000 | 302,641 | ||||||
Morgan Stanley |
||||||||
(SOFR + 1.99%), 2.19%, 4/28/2026 (b) |
128,000 | 126,341 | ||||||
3.63%, 1/20/2027 |
88,000 | 91,675 | ||||||
(ICE
LIBOR USD 3 Month + 1.14%), |
205,000 | 212,792 | ||||||
(SOFR + 1.14%), 2.70%, 1/22/2031 (b) |
117,000 | 113,204 | ||||||
(SOFR + 3.12%), 3.62%, 4/1/2031 (b) |
78,000 | 80,636 | ||||||
(SOFR + 1.36%), 2.48%, 9/16/2036 (b) |
70,000 | 63,570 | ||||||
(ICE
LIBOR USD 3 Month + 1.46%), |
146,000 | 152,897 | ||||||
4.30%, 1/27/2045 |
29,000 | 31,530 | ||||||
(SOFR + 1.43%), 2.80%, 1/25/2052 (b) |
102,000 | 88,650 | ||||||
|
|
|||||||
2,793,996 | ||||||||
|
|
|||||||
Chemicals — 1.7% |
| |||||||
Air Products and Chemicals, Inc. 2.80%, 5/15/2050 |
40,000 | 35,841 | ||||||
Dow
Chemical Co. (The) 3.60%, |
60,000 | 57,379 | ||||||
Ecolab, Inc. 2.70%, 12/15/2051 |
113,000 | 98,603 | ||||||
Huntsman International LLC 4.50%, 5/1/2029 |
78,000 | 82,824 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Chemicals — continued |
| |||||||
International Flavors & Fragrances, Inc. 5.00%, 9/26/2048 |
30,000 | 34,295 | ||||||
LYB International Finance III LLC |
||||||||
3.38%, 10/1/2040 |
160,000 | 149,743 | ||||||
3.63%, 4/1/2051 |
86,000 | 81,212 | ||||||
Sherwin-Williams Co. (The) |
||||||||
3.45%, 6/1/2027 |
76,000 | 79,063 | ||||||
2.95%, 8/15/2029 |
254,000 | 255,065 | ||||||
|
|
|||||||
874,025 | ||||||||
|
|
|||||||
Construction & Engineering — 0.2% |
| |||||||
Quanta Services, Inc. 2.35%, 1/15/2032 |
120,000 | 108,928 | ||||||
|
|
|||||||
Construction Materials — 0.3% |
| |||||||
Martin Marietta Materials, Inc. |
||||||||
3.20%, 7/15/2051 |
168,000 | 149,653 | ||||||
|
|
|||||||
Consumer Finance — 2.6% |
| |||||||
AerCap Ireland Capital DAC (Ireland) |
||||||||
6.50%, 7/15/2025 |
450,000 | 495,765 | ||||||
3.85%, 10/29/2041 |
165,000 | 152,909 | ||||||
Capital
One Financial Corp. |
182,000 | 186,307 | ||||||
General Motors Financial Co., Inc. |
||||||||
5.10%, 1/17/2024 |
100,000 | 104,881 | ||||||
3.95%, 4/13/2024 |
50,000 | 51,402 | ||||||
4.35%, 1/17/2027 |
86,000 | 90,378 | ||||||
3.60%, 6/21/2030 |
70,000 | 70,244 | ||||||
John Deere Capital Corp. 2.80%, 7/18/2029 |
200,000 | 203,367 | ||||||
|
|
|||||||
1,355,253 | ||||||||
|
|
|||||||
Diversified Financial Services — 1.6% |
| |||||||
Berkshire Hathaway, Inc. 3.13%, 3/15/2026 |
297,000 | 308,075 | ||||||
Equitable Holdings, Inc. 4.35%, 4/20/2028 |
120,000 | 128,458 | ||||||
Shell International Finance BV (Netherlands) |
||||||||
3.25%, 5/11/2025 |
31,000 | 32,156 | ||||||
4.13%, 5/11/2035 |
243,000 | 264,326 | ||||||
4.38%, 5/11/2045 |
43,000 | 47,635 | ||||||
4.00%, 5/10/2046 |
29,000 | 30,746 | ||||||
|
|
|||||||
811,396 | ||||||||
|
|
|||||||
Diversified Telecommunication Services — 2.8% |
| |||||||
AT&T, Inc. |
||||||||
4.30%, 2/15/2030 |
182,000 | 198,136 | ||||||
2.25%, 2/1/2032 |
222,000 | 204,878 | ||||||
4.50%, 5/15/2035 |
124,000 | 135,797 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 73 |
JPMorgan Corporate Bond Research Enhanced ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Diversified Telecommunication Services — continued |
| |||||||
4.50%, 3/9/2048 |
136,000 | 145,642 | ||||||
3.50%, 9/15/2053 |
155,000 | 141,731 | ||||||
3.55%, 9/15/2055 |
60,000 | 54,407 | ||||||
3.65%, 9/15/2059 |
30,000 | 27,215 | ||||||
Verizon Communications, Inc. |
||||||||
4.33%, 9/21/2028 |
45,000 | 49,000 | ||||||
3.40%, 3/22/2041 |
384,000 | 369,799 | ||||||
2.99%, 10/30/2056 |
127,000 | 108,284 | ||||||
|
|
|||||||
1,434,889 | ||||||||
|
|
|||||||
Electric Utilities — 5.1% |
| |||||||
Baltimore Gas and Electric Co. |
||||||||
3.20%, 9/15/2049 |
80,000 | 75,606 | ||||||
2.90%, 6/15/2050 |
76,000 | 68,501 | ||||||
Commonwealth Edison Co. 3.00%, 3/1/2050 |
76,000 | 69,169 | ||||||
Duke Energy Corp. |
||||||||
3.75%, 4/15/2024 |
223,000 | 230,045 | ||||||
2.65%, 9/1/2026 |
18,000 | 18,086 | ||||||
3.30%, 6/15/2041 |
40,000 | 36,612 | ||||||
3.75%, 9/1/2046 |
117,000 | 111,774 | ||||||
Duke Energy Indiana LLC |
||||||||
Series YYY, 3.25%, 10/1/2049 |
20,000 | 18,414 | ||||||
2.75%, 4/1/2050 |
20,000 | 16,982 | ||||||
Emera US Finance LP (Canada) 4.75%, 6/15/2046 |
185,000 | 195,241 | ||||||
Entergy Louisiana LLC |
||||||||
4.00%, 3/15/2033 |
227,000 | 244,855 | ||||||
2.90%, 3/15/2051 |
67,000 | 59,337 | ||||||
Entergy Texas, Inc. 3.55%, 9/30/2049 |
44,000 | 42,223 | ||||||
Evergy, Inc. |
||||||||
2.45%, 9/15/2024 |
127,000 | 126,940 | ||||||
2.90%, 9/15/2029 |
102,000 | 101,155 | ||||||
Exelon Corp. 4.45%, 4/15/2046 |
20,000 | 21,591 | ||||||
Florida Power & Light Co. |
||||||||
3.95%, 3/1/2048 |
30,000 | 32,293 | ||||||
3.15%, 10/1/2049 |
88,000 | 83,887 | ||||||
Fortis, Inc. (Canada) 3.06%, 10/4/2026 |
148,000 | 149,645 | ||||||
Pacific Gas and Electric Co. |
||||||||
1.70%, 11/15/2023 |
61,000 | 59,927 | ||||||
3.45%, 7/1/2025 |
94,000 | 94,906 | ||||||
4.50%, 7/1/2040 |
116,000 | 109,299 | ||||||
3.30%, 8/1/2040 |
64,000 | 53,924 | ||||||
4.95%, 7/1/2050 |
30,000 | 29,717 | ||||||
3.50%, 8/1/2050 |
102,000 | 84,433 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Electric Utilities — continued |
| |||||||
PPL Electric Utilities Corp. 3.00%, 10/1/2049 |
20,000 | 18,456 | ||||||
Southern California Edison Co. |
||||||||
2.25%, 6/1/2030 |
10,000 | 9,387 | ||||||
Series 13-A, 3.90%, 3/15/2043 |
6,000 | 5,795 | ||||||
Series C, 3.60%, 2/1/2045 |
111,000 | 103,331 | ||||||
4.00%, 4/1/2047 |
98,000 | 96,765 | ||||||
3.65%, 2/1/2050 |
14,000 | 13,236 | ||||||
Southern Co. (The) 4.40%, 7/1/2046 |
72,000 | 75,438 | ||||||
Virginia Electric and Power Co. |
||||||||
Series A, 3.15%, 1/15/2026 |
17,000 | 17,488 | ||||||
Series A, 3.50%, 3/15/2027 |
43,000 | 45,190 | ||||||
4.60%, 12/1/2048 |
30,000 | 34,345 | ||||||
2.45%, 12/15/2050 |
60,000 | 48,902 | ||||||
|
|
|||||||
2,602,895 | ||||||||
|
|
|||||||
Electronic Equipment, Instruments & Components — 0.2% |
| |||||||
Teledyne Technologies, Inc. 2.75%, 4/1/2031 |
130,000 | 125,472 | ||||||
|
|
|||||||
Entertainment — 1.4% |
| |||||||
Activision Blizzard, Inc. 2.50%, 9/15/2050 |
111,000 | 93,335 | ||||||
Electronic Arts, Inc. 1.85%, 2/15/2031 |
241,000 | 219,939 | ||||||
Walt Disney Co. (The) |
||||||||
2.65%, 1/13/2031 |
60,000 | 59,421 | ||||||
3.50%, 5/13/2040 |
174,000 | 173,335 | ||||||
2.75%, 9/1/2049 |
196,000 | 171,225 | ||||||
|
|
|||||||
717,255 | ||||||||
|
|
|||||||
Equity Real Estate Investment Trusts (REITs) — 3.0% |
| |||||||
Alexandria Real Estate Equities, Inc. |
||||||||
2.75%, 12/15/2029 |
102,000 | 100,534 | ||||||
American Tower Corp. |
||||||||
3.80%, 8/15/2029 |
220,000 | 227,157 | ||||||
3.10%, 6/15/2050 |
50,000 | 41,924 | ||||||
Boston Properties LP |
||||||||
4.50%, 12/1/2028 |
39,000 | 42,583 | ||||||
3.25%, 1/30/2031 |
120,000 | 119,787 | ||||||
Brixmor Operating Partnership LP 4.05%, 7/1/2030 |
270,000 | 280,110 | ||||||
Equinix, Inc. 3.20%, 11/18/2029 |
140,000 | 138,102 | ||||||
Healthpeak Properties, Inc. 2.88%, 1/15/2031 |
136,000 | 133,676 | ||||||
Simon Property Group LP |
||||||||
2.45%, 9/13/2029 |
78,000 | 75,336 | ||||||
3.25%, 9/13/2049 |
40,000 | 36,754 | ||||||
UDR, Inc. 3.00%, 8/15/2031 |
20,000 | 19,700 |
SEE NOTES TO FINANCIAL STATEMENTS.
74 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Equity Real Estate Investment Trusts (REITs) — continued |
| |||||||
Ventas Realty LP 2.50%, 9/1/2031 |
130,000 | 122,726 | ||||||
Welltower, Inc. 3.63%, 3/15/2024 |
185,000 | 190,023 | ||||||
|
|
|||||||
1,528,412 | ||||||||
|
|
|||||||
Food & Staples Retailing — 0.4% |
| |||||||
Sysco Corp. |
||||||||
3.30%, 7/15/2026 |
40,000 | 41,152 | ||||||
3.25%, 7/15/2027 |
40,000 | 41,163 | ||||||
Walmart, Inc. |
||||||||
1.80%, 9/22/2031 |
87,000 | 81,708 | ||||||
4.05%, 6/29/2048 |
47,000 | 53,231 | ||||||
|
|
|||||||
217,254 | ||||||||
|
|
|||||||
Food Products — 0.3% |
| |||||||
Bunge Ltd. Finance Corp. 2.75%, 5/14/2031 |
60,000 | 57,106 | ||||||
Conagra Brands, Inc. 4.85%, 11/1/2028 |
80,000 | 88,066 | ||||||
|
|
|||||||
145,172 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies — 0.8% |
| |||||||
Becton Dickinson and Co. |
||||||||
3.70%, 6/6/2027 |
66,000 | 69,184 | ||||||
4.69%, 12/15/2044 |
73,000 | 81,476 | ||||||
4.67%, 6/6/2047 |
49,000 | 54,972 | ||||||
Medtronic, Inc. 4.38%, 3/15/2035 |
200,000 | 228,014 | ||||||
|
|
|||||||
433,646 | ||||||||
|
|
|||||||
Health Care Providers & Services — 5.6% |
||||||||
Aetna, Inc. 2.80%, |
||||||||
6/15/2023 |
278,000 | 281,686 | ||||||
3.88%, 8/15/2047 |
70,000 | 70,299 | ||||||
Anthem, Inc. 2.38%, |
||||||||
1/15/2025 |
150,000 | 150,550 | ||||||
4.65%, 8/15/2044 |
123,000 | 137,728 | ||||||
Cigna Corp. 3.25%, |
||||||||
4/15/2025 |
166,000 | 169,536 | ||||||
2.40%, 3/15/2030 |
30,000 | 28,524 | ||||||
4.80%, 8/15/2038 |
86,000 | 95,807 | ||||||
3.40%, 3/15/2051 |
60,000 | 54,752 | ||||||
CVS Health Corp. |
||||||||
2.63%, 8/15/2024 |
10,000 | 10,120 | ||||||
4.30%, 3/25/2028 |
25,000 | 26,989 | ||||||
2.70%, 8/21/2040 |
112,000 | 97,764 | ||||||
5.05%, 3/25/2048 |
66,000 | 77,066 | ||||||
HCA, Inc. |
||||||||
5.00%, 3/15/2024 |
603,000 | 633,621 | ||||||
4.13%, 6/15/2029 |
90,000 | 94,325 | ||||||
3.50%, 7/15/2051 |
119,000 | 105,801 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Health Care Providers & Services — continued |
| |||||||
UnitedHealth Group, Inc. |
||||||||
3.75%, 7/15/2025 |
86,000 | 90,117 | ||||||
3.50%, 8/15/2039 |
122,000 | 124,662 | ||||||
2.75%, 5/15/2040 |
261,000 | 241,148 | ||||||
3.25%, 5/15/2051 |
60,000 | 58,263 | ||||||
Universal Health Services, Inc. |
||||||||
2.65%, 10/15/2030 (a) |
320,000 | 302,224 | ||||||
2.65%, 1/15/2032 (a) |
60,000 | 55,841 | ||||||
|
|
|||||||
2,906,823 | ||||||||
|
|
|||||||
Hotels, Restaurants & Leisure — 1.2% |
||||||||
Expedia Group, Inc. |
||||||||
3.25%, 2/15/2030 |
70,000 | 69,045 | ||||||
McDonald’s Corp. |
||||||||
3.70%, 1/30/2026 |
214,000 | 225,305 | ||||||
2.13%, 3/1/2030 |
85,000 | 80,475 | ||||||
3.63%, 9/1/2049 |
176,000 | 172,807 | ||||||
Starbucks Corp. |
||||||||
3.50%, 11/15/2050 |
102,000 | 95,526 | ||||||
|
|
|||||||
643,158 | ||||||||
|
|
|||||||
Household Durables — 0.4% |
||||||||
Lennar Corp. |
||||||||
4.75%, 11/29/2027 |
180,000 | 195,682 | ||||||
|
|
|||||||
Industrial Conglomerates — 0.4% |
||||||||
3M Co. |
||||||||
4.00%, 9/14/2048 |
50,000 | 53,424 | ||||||
General Electric Co. |
||||||||
6.75%, 3/15/2032 |
22,000 | 28,399 | ||||||
Roper Technologies, Inc. |
||||||||
1.75%, 2/15/2031 |
136,000 | 120,241 | ||||||
|
|
|||||||
202,064 | ||||||||
|
|
|||||||
Insurance — 2.2% |
||||||||
Aflac, Inc. |
||||||||
3.60%, 4/1/2030 |
160,000 | 169,810 | ||||||
American International Group, Inc. |
||||||||
2.50%, 6/30/2025 |
120,000 | 120,530 | ||||||
3.90%, 4/1/2026 |
28,000 | 29,475 | ||||||
3.40%, 6/30/2030 |
180,000 | 185,067 | ||||||
4.50%, 7/16/2044 |
116,000 | 128,697 | ||||||
Arch Capital Group Ltd. |
||||||||
3.64%, 6/30/2050 |
170,000 | 162,750 | ||||||
Berkshire Hathaway Finance Corp. |
||||||||
4.20%, 8/15/2048 |
146,000 | 161,530 | ||||||
4.25%, 1/15/2049 |
20,000 | 22,300 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 75 |
JPMorgan Corporate Bond Research Enhanced ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Insurance — continued |
| |||||||
Northwestern Mutual Life Insurance Co. (The) |
||||||||
3.85%, 9/30/2047 (a) |
20,000 | 20,236 | ||||||
Progressive Corp. (The) |
||||||||
4.13%, 4/15/2047 |
60,000 | 65,913 | ||||||
Prudential Financial, Inc. |
||||||||
3.70%, 3/13/2051 |
68,000 | 68,897 | ||||||
|
|
|||||||
1,135,205 | ||||||||
|
|
|||||||
Interactive Media & Services — 0.3% |
||||||||
Alphabet, Inc. |
||||||||
2.00%, 8/15/2026 |
91,000 | 91,115 | ||||||
1.10%, 8/15/2030 |
50,000 | 45,131 | ||||||
|
|
|||||||
136,246 | ||||||||
|
|
|||||||
Internet & Direct Marketing Retail — 0.8% |
||||||||
Amazon.com, Inc. |
||||||||
1.00%, 5/12/2026 |
53,000 | 51,038 | ||||||
3.88%, 8/22/2037 |
252,000 | 275,940 | ||||||
4.05%, 8/22/2047 |
10,000 | 11,140 | ||||||
2.50%, 6/3/2050 |
60,000 | 51,798 | ||||||
|
|
|||||||
389,916 | ||||||||
|
|
|||||||
IT Services — 1.0% |
||||||||
Global Payments, Inc. |
||||||||
3.20%, 8/15/2029 |
146,000 | 144,118 | ||||||
2.90%, 5/15/2030 |
20,000 | 19,243 | ||||||
4.15%, 8/15/2049 |
112,000 | 110,366 | ||||||
International Business Machines Corp. |
||||||||
3.30%, 5/15/2026 |
150,000 | 156,050 | ||||||
VeriSign,
Inc. |
114,000 | 105,793 | ||||||
|
|
|||||||
535,570 | ||||||||
|
|
|||||||
Life Sciences Tools & Services — 0.2% |
||||||||
Thermo Fisher Scientific, Inc. |
||||||||
2.80%, 10/15/2041 |
61,000 | 56,162 | ||||||
4.10%, 8/15/2047 |
23,000 | 25,476 | ||||||
|
|
|||||||
81,638 | ||||||||
|
|
|||||||
Machinery — 0.3% |
||||||||
Caterpillar, Inc. |
||||||||
3.80%, 8/15/2042 |
20,000 | 21,277 | ||||||
3.25%, 4/9/2050 |
20,000 | 19,666 | ||||||
Otis Worldwide Corp. |
||||||||
2.06%, 4/5/2025 |
40,000 | 39,698 | ||||||
2.57%, 2/15/2030 |
40,000 | 38,667 | ||||||
3.36%, 2/15/2050 |
20,000 | 18,639 | ||||||
|
|
|||||||
137,947 | ||||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Media — 3.4% |
||||||||
Charter Communications Operating LLC |
||||||||
4.46%, 7/23/2022 |
76,000 | 76,556 | ||||||
4.91%, 7/23/2025 |
270,000 | 286,209 | ||||||
2.80%, 4/1/2031 |
40,000 | 37,047 | ||||||
3.50%, 3/1/2042 |
177,000 | 152,583 | ||||||
6.48%, 10/23/2045 |
21,000 | 25,092 | ||||||
5.38%, 5/1/2047 |
30,000 | 31,658 | ||||||
4.80%, 3/1/2050 |
107,000 | 104,634 | ||||||
3.70%, 4/1/2051 |
25,000 | 20,974 | ||||||
Comcast Corp. |
||||||||
3.70%, 4/15/2024 |
101,000 | 104,635 | ||||||
3.95%, 10/15/2025 |
105,000 | 110,755 | ||||||
3.15%, 3/1/2026 |
88,000 | 90,705 | ||||||
4.15%, 10/15/2028 |
101,000 | 109,474 | ||||||
3.40%, 4/1/2030 |
40,000 | 41,259 | ||||||
3.90%, 3/1/2038 |
150,000 | 152,720 | ||||||
3.75%, 4/1/2040 |
50,000 | 50,488 | ||||||
4.00%, 11/1/2049 |
30,000 | 30,510 | ||||||
3.45%, 2/1/2050 |
20,000 | 18,659 | ||||||
Discovery Communications LLC |
||||||||
3.95%, 3/20/2028 |
76,000 | 78,392 | ||||||
5.00%, 9/20/2037 |
30,000 | 32,342 | ||||||
4.65%, 5/15/2050 |
91,000 | 93,026 | ||||||
4.00%, 9/15/2055 |
90,000 | 81,786 | ||||||
|
|
|||||||
1,729,504 | ||||||||
|
|
|||||||
Metals & Mining — 0.7% |
||||||||
Glencore
Funding LLC (Australia) |
127,000 | 130,171 | ||||||
Vale
Overseas Ltd. (Brazil) |
192,000 | 215,916 | ||||||
|
|
|||||||
346,087 | ||||||||
|
|
|||||||
Multi-Utilities—2.9% |
||||||||
Ameren Corp. |
||||||||
2.50%, 9/15/2024 |
141,000 | 141,730 | ||||||
3.50%, 1/15/2031 |
60,000 | 61,669 | ||||||
Berkshire Hathaway Energy Co. |
||||||||
4.45%, 1/15/2049 |
31,000 | 34,262 | ||||||
2.85%, 5/15/2051 |
106,000 | 89,942 | ||||||
CenterPoint Energy, Inc. |
||||||||
2.65%, 6/1/2031 |
345,000 | 330,050 | ||||||
Consolidated Edison Co. of New York, Inc. |
||||||||
Series 20B, 3.95%, 4/1/2050 |
76,000 | 78,186 | ||||||
3.60%, 6/15/2061 |
50,000 | 46,494 | ||||||
Dominion Energy, Inc. 3.90%, 10/1/2025 |
17,000 | 17,731 |
SEE NOTES TO FINANCIAL STATEMENTS.
76 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Multi-Utilities— continued |
| |||||||
NiSource, Inc. |
||||||||
2.95%, 9/1/2029 |
35,000 | 34,508 | ||||||
3.60%, 5/1/2030 |
40,000 | 40,876 | ||||||
San Diego Gas & Electric Co. |
||||||||
Series VVV, 1.70%, 10/1/2030 |
53,000 | 48,118 | ||||||
2.95%, 8/15/2051 |
110,000 | 98,540 | ||||||
Sempra Energy |
||||||||
3.25%, 6/15/2027 |
40,000 | 40,867 | ||||||
4.00%, 2/1/2048 |
98,000 | 98,450 | ||||||
Southern Co. Gas Capital Corp. |
||||||||
2.45%, 10/1/2023 |
205,000 | 206,747 | ||||||
Series 20-A, 1.75%, 1/15/2031 |
152,000 | 134,797 | ||||||
|
|
|||||||
1,502,967 | ||||||||
|
|
|||||||
Oil, Gas & Consumable Fuels — 6.8% |
||||||||
BP Capital Markets America, Inc. |
||||||||
3.79%, 2/6/2024 |
70,000 | 72,234 | ||||||
3.80%, 9/21/2025 |
72,000 | 75,678 | ||||||
4.23%, 11/6/2028 |
39,000 | 42,142 | ||||||
3.00%, 2/24/2050 |
203,000 | 173,476 | ||||||
BP
Capital Markets plc (United Kingdom) |
187,000 | 192,270 | ||||||
Cameron LNG LLC 3.30%, 1/15/2035(a) |
25,000 | 24,582 | ||||||
3.70%, 1/15/2039(a) |
5,000 | 4,991 | ||||||
Canadian
Natural Resources Ltd. (Canada) |
30,000 | 33,825 | ||||||
Cenovus
Energy, Inc. (Canada) |
72,000 | 77,976 | ||||||
Chevron Corp. 1.55%, 5/11/2025 |
107,000 | 105,385 | ||||||
2.95%, 5/16/2026 |
88,000 | 90,890 | ||||||
Columbia Pipeline Group, Inc. 4.50%, 6/1/2025 |
192,000 | 203,600 | ||||||
ConocoPhillips 4.30%, 8/15/2028(a) |
190,000 | 209,582 | ||||||
Diamondback Energy, Inc. 3.50%, 12/1/2029 |
70,000 | 70,787 | ||||||
Energy Transfer LP |
||||||||
4.95%, 5/15/2028 |
80,000 | 85,609 | ||||||
4.95%, 6/15/2028 |
32,000 | 34,416 | ||||||
5.40%, 10/1/2047 |
149,000 | 159,444 | ||||||
5.00%, 5/15/2050 |
144,000 | 149,772 | ||||||
Enterprise Products Operating LLC |
||||||||
Series E, (ICE LIBOR USD 3 Month + 3.03%), 5.25%, 8/16/2077(b) |
105,000 | 99,631 | ||||||
Exxon Mobil Corp. |
||||||||
2.99%, 3/19/2025 |
78,000 | 80,084 | ||||||
2.61%, 10/15/2030 |
205,000 | 203,422 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Oil, Gas & Consumable Fuels — continued |
| |||||||
3.00%, 8/16/2039 |
185,000 | 177,469 | ||||||
4.33%, 3/19/2050 |
20,000 | 22,607 | ||||||
3.45%, 4/15/2051 |
30,000 | 29,651 | ||||||
Kinder Morgan, Inc. 4.30%, 6/1/2025 |
110,000 | 115,247 | ||||||
Marathon Oil Corp. 4.40%, 7/15/2027 |
90,000 | 95,540 | ||||||
Marathon Petroleum Corp. 4.75%, 9/15/2044 |
17,000 | 17,884 | ||||||
Phillips 66 4.88%, 11/15/2044 |
30,000 | 34,114 | ||||||
Pioneer Natural Resources Co. 1.90%, 8/15/2030 |
66,000 | 59,948 | ||||||
Plains All American Pipeline LP 3.55%, 12/15/2029 |
146,000 | 144,093 | ||||||
Sabine Pass Liquefaction LLC 5.75%, 5/15/2024 |
100,000 | 106,387 | ||||||
5.63%, 3/1/2025 |
140,000 | 151,068 | ||||||
TotalEnergies Capital International SA (France) 2.43%, 1/10/2025 |
88,000 | 89,062 | ||||||
2.83%, 1/10/2030 |
166,000 | 166,444 | ||||||
3.46%, 7/12/2049 |
20,000 | 19,414 | ||||||
3.13%, 5/29/2050 |
90,000 | 83,168 | ||||||
|
|
|||||||
3,501,892 | ||||||||
|
|
|||||||
Pharmaceuticals — 3.2% |
| |||||||
AstraZeneca plc (United Kingdom) 3.38%, 11/16/2025 |
60,000 | 62,451 | ||||||
4.38%, 11/16/2045 |
68,000 | 77,499 | ||||||
2.13%, 8/6/2050 |
30,000 | 23,681 | ||||||
3.00%, 5/28/2051 |
110,000 | 102,705 | ||||||
Bristol-Myers Squibb Co. 3.40%, 7/26/2029 |
68,000 | 71,579 | ||||||
4.13%, 6/15/2039 |
70,000 | 76,722 | ||||||
4.35%, 11/15/2047 |
32,000 | 36,389 | ||||||
4.25%, 10/26/2049 |
88,000 | 98,409 | ||||||
2.55%, 11/13/2050 |
80,000 | 67,694 | ||||||
Eli Lilly & Co. 2.25%, 5/15/2050 |
104,000 | 86,686 | ||||||
Pfizer, Inc. 2.70%, 5/28/2050 |
111,000 | 100,315 | ||||||
Royalty Pharma plc 0.75%, 9/2/2023 |
220,000 | 215,862 | ||||||
3.30%, 9/2/2040 |
150,000 | 132,716 | ||||||
Shire Acquisitions Investments Ireland DAC 2.88%, 9/23/2023 |
156,000 | 158,011 | ||||||
3.20%, 9/23/2026 |
332,000 | 340,769 | ||||||
|
|
|||||||
1,651,488 | ||||||||
|
|
|||||||
Road & Rail — 2.1% |
| |||||||
Burlington Northern Santa Fe LLC 4.15%, 4/1/2045 |
89,000 | 96,797 | ||||||
Canadian Pacific Railway Co. (Canada) 1.35%, 12/2/2024 |
92,000 | 89,754 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 77 |
JPMorgan Corporate Bond Research Enhanced ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Road & Rail — continued |
| |||||||
1.75%, 12/2/2026 |
238,000 | 230,828 | ||||||
2.45%, 12/2/2031 |
82,000 | 78,698 | ||||||
3.00%, 12/2/2041 |
75,000 | 69,581 | ||||||
CSX Corp. 4.30%, 3/1/2048 |
45,000 | 49,195 | ||||||
Norfolk Southern Corp. 4.15%, 2/28/2048 |
106,000 | 113,319 | ||||||
3.16%, 5/15/2055 |
110,000 | 100,988 | ||||||
Union Pacific Corp. 2.89%, 4/6/2036 |
242,000 | 234,091 | ||||||
3.25%, 2/5/2050 |
34,000 | 32,649 | ||||||
|
|
|||||||
1,095,900 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment — 3.8% |
| |||||||
Analog Devices, Inc. 3.50%, 12/5/2026 |
108,000 | 113,660 | ||||||
Broadcom Corp. 3.88%, 1/15/2027 |
141,000 | 146,809 | ||||||
Broadcom, Inc. 4.75%, 4/15/2029 |
68,000 | 73,892 | ||||||
3.50%, 2/15/2041 (a) |
240,000 | 221,292 | ||||||
Intel Corp. 3.25%, 11/15/2049 |
73,000 | 68,380 | ||||||
3.05%, 8/12/2051 |
30,000 | 27,246 | ||||||
3.20%, 8/12/2061 |
53,000 | 46,764 | ||||||
KLA Corp. 4.10%, 3/15/2029 |
260,000 | 280,409 | ||||||
NVIDIA Corp. 3.50%, 4/1/2050 |
136,000 | 140,063 | ||||||
NXP BV (China) 4.30%, 6/18/2029 (a) |
40,000 | 42,688 | ||||||
3.25%, 5/11/2041 (a) |
190,000 | 173,753 | ||||||
QUALCOMM, Inc. 3.25%, 5/20/2050 |
20,000 | 19,649 | ||||||
Xilinx, Inc. 2.95%, 6/1/2024 |
380,000 | 386,666 | ||||||
2.38%, 6/1/2030 |
246,000 | 236,563 | ||||||
|
|
|||||||
1,977,834 | ||||||||
|
|
|||||||
Software — 1.9% |
| |||||||
Microsoft Corp. 3.30%, 2/6/2027 |
30,000 | 32,037 | ||||||
3.45%, 8/8/2036 |
42,000 | 45,045 | ||||||
4.10%, 2/6/2037 |
88,000 | 100,317 | ||||||
Oracle Corp. 2.50%, 4/1/2025 |
107,000 | 106,856 | ||||||
3.25%, 11/15/2027 |
71,000 | 71,809 | ||||||
2.95%, 4/1/2030 |
83,000 | 80,225 | ||||||
2.88%, 3/25/2031 |
60,000 | 57,268 | ||||||
3.80%, 11/15/2037 |
68,000 | 64,626 | ||||||
3.60%, 4/1/2040 |
81,000 | 73,366 | ||||||
4.00%, 7/15/2046 |
31,000 | 28,491 | ||||||
3.60%, 4/1/2050 |
186,000 | 161,693 | ||||||
3.95%, 3/25/2051 |
30,000 | 27,481 | ||||||
VMware, Inc. |
||||||||
1.00%, 8/15/2024 |
128,000 | 124,297 | ||||||
|
|
|||||||
973,511 | ||||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Specialty Retail — 1.6% |
| |||||||
AutoZone, Inc. 1.65%, 1/15/2031 |
174,000 | 154,288 | ||||||
Home Depot, Inc. (The) 2.70%, 4/15/2030 |
78,000 | 77,742 | ||||||
3.30%, 4/15/2040 |
110,000 | 110,044 | ||||||
4.20%, 4/1/2043 |
30,000 | 33,155 | ||||||
3.13%, 12/15/2049 |
63,000 | 59,368 | ||||||
3.35%, 4/15/2050 |
20,000 | 19,559 | ||||||
2.75%, 9/15/2051 |
70,000 | 62,116 | ||||||
3.50%, 9/15/2056 |
20,000 | 19,877 | ||||||
Lowe’s Cos., Inc. 3.10%, 5/3/2027 |
40,000 | 41,194 | ||||||
2.80%, 9/15/2041 |
122,000 | 107,736 | ||||||
3.70%, 4/15/2046 |
107,000 | 104,206 | ||||||
4.05%, 5/3/2047 |
40,000 | 41,054 | ||||||
|
|
|||||||
830,339 | ||||||||
|
|
|||||||
Technology Hardware, Storage & Peripherals — 1.8% |
| |||||||
Apple, Inc. 2.90%, 9/12/2027 |
89,000 | 91,818 | ||||||
1.65%, 5/11/2030 |
40,000 | 37,297 | ||||||
2.38%, 2/8/2041 |
69,000 | 61,456 | ||||||
3.85%, 5/4/2043 |
20,000 | 21,506 | ||||||
3.45%, 2/9/2045 |
107,000 | 109,427 | ||||||
4.65%, 2/23/2046 |
153,000 | 185,638 | ||||||
2.65%, 5/11/2050 |
20,000 | 17,745 | ||||||
2.65%, 2/8/2051 |
130,000 | 115,480 | ||||||
Dell International LLC 5.45%, 6/15/2023 |
60,000 | 62,454 | ||||||
6.02%, 6/15/2026 |
152,000 | 169,609 | ||||||
5.30%, 10/1/2029 |
40,000 | 44,609 | ||||||
|
|
|||||||
917,039 | ||||||||
|
|
|||||||
Tobacco — 1.6% |
| |||||||
Altria Group, Inc. 4.80%, 2/14/2029 |
63,000 | 68,058 | ||||||
5.38%, 1/31/2044 |
79,000 | 82,430 | ||||||
5.95%, 2/14/2049 |
50,000 | 55,541 | ||||||
4.00%, 2/4/2061 |
55,000 | 45,754 | ||||||
BAT Capital Corp. (United Kingdom) 3.22%, 8/15/2024 |
119,000 | 120,425 | ||||||
4.39%, 8/15/2037 |
274,000 | 262,608 | ||||||
4.54%, 8/15/2047 |
98,000 | 90,480 | ||||||
Reynolds American, Inc. (United Kingdom) 4.45%, 6/12/2025 |
76,000 | 79,478 | ||||||
|
|
|||||||
804,774 | ||||||||
|
|
|||||||
Trading Companies & Distributors — 0.5% |
| |||||||
Air Lease Corp. 2.30%, 2/1/2025 |
146,000 | 144,243 | ||||||
2.88%, 1/15/2026 |
120,000 | 119,538 | ||||||
|
|
|||||||
263,781 | ||||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
78 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Water Utilities — 0.4% |
| |||||||
American Water Capital Corp. 2.80%, 5/1/2030 |
63,000 | 62,310 | ||||||
3.75%, 9/1/2047 |
50,000 | 49,863 | ||||||
3.45%, 5/1/2050 |
100,000 | 96,152 | ||||||
|
|
|||||||
208,325 | ||||||||
|
|
|||||||
Wireless Telecommunication Services — 1.2% |
| |||||||
T-Mobile USA, Inc. 3.50%, 4/15/2025 |
195,000 | 200,464 | ||||||
3.75%, 4/15/2027 |
117,000 | 121,481 | ||||||
3.88%, 4/15/2030 |
170,000 | 175,795 | ||||||
4.50%, 4/15/2050 |
141,000 | 147,001 | ||||||
|
|
|||||||
644,741 | ||||||||
|
|
|||||||
Total
Corporate Bonds |
|
50,913,381 | ||||||
|
|
|||||||
SHARES |
||||||||
Short-term Investments — 0.3% |
| |||||||
Investment Companies — 0.3% |
| |||||||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 0.03%(d)(e)(Cost $159,865) |
159,865 | 159,865 | ||||||
|
|
|||||||
Total
Investments — 99.2% |
|
51,073,246 | ||||||
Other Assets Less Liabilities — 0.8% |
|
405,447 | ||||||
|
|
|||||||
NET ASSETS — 100.0% |
|
51,478,693 | ||||||
|
|
Percentages indicated are based on net assets.
Abbreviations
ICE |
Intercontinental Exchange | |
LIBOR |
London Interbank Offered Rate | |
SOFR |
Secured Overnight Financing Rate | |
USD |
United States Dollar | |
(a) |
Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. | |
(b) |
Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of February 28, 2022. | |
(c) |
Amount rounds to less than 0.1% of net assets. | |
(d) |
Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(e) |
The rate shown is the current yield as of February 28, 2022. |
Futures contracts outstanding as of February 28, 2022: | ||||||||||||||||||||
Description | Number of Contracts |
Expiration Date |
Trading Currency |
Notional Amount ($) |
Value
and Unrealized Appreciation (Depreciation) ($) |
|||||||||||||||
Long Contracts |
||||||||||||||||||||
U.S. Treasury 2 Year Note |
3 | 06/2022 | USD | 645,305 | 1,369 | |||||||||||||||
U.S. Treasury 5 Year Note |
10 | 06/2022 | USD | 1,182,422 | 4,746 | |||||||||||||||
U.S. Treasury 10 Year Ultra Note |
3 | 06/2022 | USD | 424,313 | 4,095 | |||||||||||||||
|
|
|||||||||||||||||||
10,210 | ||||||||||||||||||||
|
|
|||||||||||||||||||
Short Contracts |
|
|||||||||||||||||||
U.S. Treasury 10 Year Note |
(10 | ) | 06/2022 | USD | (1,274,219 | ) | (8,068 | ) | ||||||||||||
U.S. Treasury Long Bond |
(1 | ) | 06/2022 | USD | (156,938 | ) | (2,252 | ) | ||||||||||||
|
|
|||||||||||||||||||
(10,320 | ) | |||||||||||||||||||
|
|
|||||||||||||||||||
(110 | ) | |||||||||||||||||||
|
|
Abbreviations | ||
USD |
United States Dollar |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 79 |
JPMorgan High Yield Research Enhanced ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — 96.4% |
| |||||||
Aerospace & Defense — 2.4% |
| |||||||
Bombardier, Inc. (Canada) |
||||||||
7.50%, 12/1/2024 (a) |
940,000 | 972,900 | ||||||
7.88%, 4/15/2027 (a) |
3,774,000 | 3,826,836 | ||||||
6.00%, 2/15/2028 (a) |
1,886,000 | 1,801,149 | ||||||
BWX Technologies, Inc. |
||||||||
4.13%, 6/30/2028 (a) |
1,157,000 | 1,122,290 | ||||||
Howmet Aerospace, Inc. |
||||||||
6.88%, 5/1/2025 |
1,113,000 | 1,225,839 | ||||||
5.95%, 2/1/2037 |
2,431,000 | 2,689,585 | ||||||
Moog, Inc. |
||||||||
4.25%, 12/15/2027 (a) |
750,000 | 735,278 | ||||||
Rolls-Royce plc (United Kingdom) |
||||||||
5.75%, 10/15/2027 (a) |
1,475,000 | 1,519,589 | ||||||
Spirit AeroSystems, Inc. |
||||||||
7.50%, 4/15/2025 (a) |
3,051,000 | 3,169,989 | ||||||
4.60%, 6/15/2028 |
718,000 | 685,690 | ||||||
TransDigm, Inc. |
||||||||
6.25%, 3/15/2026 (a) |
10,550,000 | 10,853,313 | ||||||
5.50%, 11/15/2027 |
4,508,000 | 4,490,193 | ||||||
Triumph Group, Inc. |
||||||||
8.88%, 6/1/2024 (a) |
834,000 | 889,899 | ||||||
7.75%, 8/15/2025 |
1,390,000 | 1,395,212 | ||||||
|
|
|||||||
35,377,762 | ||||||||
|
|
|||||||
Air Freight & Logistics — 0.1% |
| |||||||
Cargo Aircraft Management, Inc. |
||||||||
4.75%, 2/1/2028 (a) |
1,128,000 | 1,105,891 | ||||||
|
|
|||||||
Airlines — 1.5% |
| |||||||
Air Canada (Canada) |
||||||||
3.88%, 8/15/2026 (a) |
1,405,000 | 1,364,248 | ||||||
American Airlines, Inc. |
||||||||
5.50%, 4/20/2026 (a) |
5,566,976 | 5,698,023 | ||||||
5.75%, 4/20/2029 (a) |
5,566,976 | 5,691,231 | ||||||
Delta Air Lines, Inc. |
||||||||
7.38%, 1/15/2026 |
2,009,000 | 2,254,801 | ||||||
3.75%, 10/28/2029 |
967,000 | 919,549 | ||||||
Hawaiian Brand Intellectual Property Ltd. |
||||||||
5.75%, 1/20/2026 (a) |
938,707 | 950,441 | ||||||
United Airlines, Inc. |
||||||||
4.38%, 4/15/2026 (a) |
1,375,000 | 1,371,480 | ||||||
4.63%, 4/15/2029 (a) |
3,309,000 | 3,227,913 | ||||||
|
|
|||||||
21,477,686 | ||||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Auto Components — 2.1% |
| |||||||
Adient Global Holdings Ltd. |
||||||||
4.88%, 8/15/2026 (a) |
1,200,000 | 1,201,500 | ||||||
Allison Transmission, Inc. |
||||||||
5.88%, 6/1/2029 (a) |
2,478,000 | 2,599,050 | ||||||
American Axle & Manufacturing, Inc. |
||||||||
6.50%, 4/1/2027 |
1,730,000 | 1,768,925 | ||||||
5.00%, 10/1/2029 |
943,000 | 894,256 | ||||||
Clarios Global LP |
||||||||
6.25%, 5/15/2026 (a) |
1,615,000 | 1,670,621 | ||||||
8.50%, 5/15/2027 (a) |
1,605,000 | 1,673,212 | ||||||
Cooper-Standard Automotive, Inc. |
||||||||
13.00%, 6/1/2024 (a) |
459,000 | 483,097 | ||||||
5.63%, 11/15/2026 (a) |
761,000 | 523,188 | ||||||
Dana, Inc. |
||||||||
5.38%, 11/15/2027 |
1,340,000 | 1,366,800 | ||||||
Dornoch Debt Merger Sub, Inc. |
||||||||
6.63%, 10/15/2029 (a) |
1,000,000 | 927,500 | ||||||
Goodyear Tire & Rubber Co. (The) |
||||||||
5.00%, 5/31/2026 |
1,692,000 | 1,698,345 | ||||||
4.88%, 3/15/2027 |
2,375,000 | 2,374,406 | ||||||
5.25%, 4/30/2031 |
967,000 | 940,408 | ||||||
Icahn Enterprises LP |
||||||||
4.75%, 9/15/2024 |
563,000 | 561,593 | ||||||
6.25%, 5/15/2026 |
2,810,000 | 2,834,489 | ||||||
5.25%, 5/15/2027 |
3,052,000 | 3,030,636 | ||||||
IHO Verwaltungs GmbH (Germany) |
||||||||
6.38% (cash), 5/15/2029(a)(b) |
1,750,000 | 1,815,625 | ||||||
Real Hero Merger Sub 2, Inc. |
||||||||
6.25%, 2/1/2029 (a) |
550,000 | 518,375 | ||||||
Tenneco, Inc. |
||||||||
5.00%, 7/15/2026 |
1,805,000 | 1,800,903 | ||||||
7.88%, 1/15/2029 (a) |
946,000 | 999,160 | ||||||
ZF North America Capital, Inc. (Germany) |
||||||||
4.75%, 4/29/2025 (a) |
1,000,000 | 1,015,000 | ||||||
|
|
|||||||
30,697,089 | ||||||||
|
|
|||||||
Automobiles — 0.1% |
| |||||||
PM General Purchaser LLC |
||||||||
9.50%, 10/1/2028 (a) |
874,000 | 836,095 | ||||||
|
|
|||||||
Banks — 0.4% |
| |||||||
UniCredit SpA (Italy) |
||||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.75%), 5.46%, 6/30/2035 (a)(c) |
5,500,000 | 5,479,963 | ||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
80 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Beverages — 0.1% |
| |||||||
Triton Water Holdings, Inc. |
||||||||
6.25%, 4/1/2029(a) |
1,145,000 | 1,054,980 | ||||||
|
|
|||||||
Biotechnology — 0.0%(d) |
| |||||||
Emergent BioSolutions, Inc. |
||||||||
3.88%, 8/15/2028(a) |
600,000 | 536,706 | ||||||
|
|
|||||||
Building Products — 1.3% |
||||||||
Builders FirstSource, Inc. 6.75%, 6/1/2027 (a) |
2,203,000 | 2,289,556 | ||||||
Forterra Finance LLC 6.50%, 7/15/2025 (a) |
720,000 | 745,200 | ||||||
Griffon Corp. 5.75%, 3/1/2028 |
2,277,000 | 2,268,176 | ||||||
James Hardie International Finance DAC 5.00%, 1/15/2028 (a) |
900,000 | 909,000 | ||||||
JELD-WEN, Inc. 4.88%, 12/15/2027 (a) |
1,840,000 | 1,789,400 | ||||||
Masonite International Corp. 5.38%, 2/1/2028 (a) |
1,392,000 | 1,419,840 | ||||||
MIWD Holdco II LLC 5.50%, 2/1/2030 (a) |
750,000 | 715,095 | ||||||
Standard Industries, Inc. 4.75%, 1/15/2028 (a) |
7,103,000 | 6,969,819 | ||||||
Summit Materials LLC 5.25%, 1/15/2029 (a) |
1,505,000 | 1,510,644 | ||||||
|
|
|||||||
18,616,730 | ||||||||
|
|
|||||||
Capital Markets — 1.5% |
||||||||
Coinbase Global, Inc. |
||||||||
3.38%, 10/1/2028 (a) |
967,000 | 881,072 | ||||||
3.63%, 10/1/2031 (a) |
967,000 | 851,710 | ||||||
Deutsche Bank AG (Germany) |
||||||||
(SOFR + 5.44%), 5.88%, 7/8/2031 (c) |
7,000,000 | 7,591,718 | ||||||
LPL Holdings, Inc. |
||||||||
4.63%, 11/15/2027 (a) |
3,795,000 | 3,776,025 | ||||||
4.00%, 3/15/2029 (a) |
1,375,000 | 1,335,469 | ||||||
MSCI, Inc. |
||||||||
4.00%, 11/15/2029 (a) |
4,731,000 | 4,756,453 | ||||||
3.88%, 2/15/2031 (a) |
2,830,000 | 2,817,208 | ||||||
|
|
|||||||
22,009,655 | ||||||||
|
|
|||||||
Chemicals — 2.5% |
||||||||
Ashland LLC 3.38%, 9/1/2031 (a) |
750,000 | 690,000 | ||||||
Avient Corp. 5.75%, 5/15/2025 (a) |
1,097,000 | 1,125,796 | ||||||
Axalta Coating Systems LLC 4.75%, 6/15/2027 (a) |
1,800,000 | 1,804,500 | ||||||
Chemours Co. (The) 5.75%, 11/15/2028 (a) |
3,274,000 | 3,218,244 | ||||||
CVR Partners LP 6.13%, 6/15/2028 (a) |
586,000 | 589,663 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Chemicals — continued |
||||||||
Element Solutions, Inc. 3.88%, 9/1/2028 (a) |
1,668,000 | 1,581,998 | ||||||
Hexion, Inc. 7.88%, 7/15/2027 (a) |
1,886,000 | 1,985,958 | ||||||
INEOS Quattro Finance 2 plc (United Kingdom) 3.38%, 1/15/2026 (a) |
1,000,000 | 955,000 | ||||||
Ingevity Corp. 3.88%, 11/1/2028 (a) |
1,813,000 | 1,708,662 | ||||||
LSB Industries, Inc. 6.25%, 10/15/2028 (a) |
786,000 | 789,930 | ||||||
Methanex Corp. (Canada) 5.25%, 12/15/2029 |
1,919,000 | 1,938,190 | ||||||
Nufarm Australia Ltd. (Australia) 5.00%, 1/27/2030 (a) |
750,000 | 740,535 | ||||||
OCI NV (Netherlands) 4.63%, 10/15/2025 (a) |
750,000 | 752,025 | ||||||
Olin Corp. |
||||||||
5.13%, 9/15/2027 |
811,000 | 821,138 | ||||||
5.63%, 8/1/2029 |
1,385,000 | 1,444,139 | ||||||
Olympus Water US Holding Corp. 4.25%, 10/1/2028 (a) |
750,000 | 699,450 | ||||||
Rain CII Carbon LLC 7.25%, 4/1/2025 (a) |
1,184,000 | 1,185,267 | ||||||
SCIH Salt Holdings, Inc. 4.88%, 5/1/2028 (a) |
925,000 | 876,438 | ||||||
Scotts Miracle-Gro Co. (The) |
||||||||
4.50%, 10/15/2029 |
881,000 | 850,165 | ||||||
4.38%, 2/1/2032 |
952,000 | 878,791 | ||||||
Trinseo Materials Operating SCA |
||||||||
5.38%, 9/1/2025 (a) |
1,435,000 | 1,446,451 | ||||||
5.13%, 4/1/2029 (a) |
486,000 | 460,485 | ||||||
Tronox, Inc. 6.50%, 5/1/2025 (a) |
3,129,000 | 3,250,405 | ||||||
Valvoline, Inc. 4.25%, 2/15/2030 (a) |
955,000 | 904,342 | ||||||
Venator Finance SARL |
||||||||
9.50%, 7/1/2025 (a) |
470,000 | 505,250 | ||||||
5.75%, 7/15/2025 (a) |
570,000 | 513,000 | ||||||
WR Grace Holdings LLC |
||||||||
4.88%, 6/15/2027 (a) |
2,523,000 | 2,520,527 | ||||||
5.63%, 8/15/2029 (a) |
1,898,000 | 1,817,335 | ||||||
|
|
|||||||
36,053,684 | ||||||||
|
|
|||||||
Commercial Services & Supplies — 3.0% |
|
|||||||
ACCO Brands Corp. 4.25%, 3/15/2029 (a) |
940,000 | 876,550 | ||||||
ADT Security Corp. (The) 4.88%, 7/15/2032 (a) |
986,000 | 919,445 | ||||||
Allied Universal Holdco LLC |
||||||||
6.63%, 7/15/2026 (a) |
4,714,000 | 4,828,550 | ||||||
9.75%, 7/15/2027 (a) |
1,745,000 | 1,823,525 | ||||||
6.00%, 6/1/2029 (a) |
1,750,000 | 1,627,500 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 81 |
JPMorgan High Yield Research Enhanced ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Commercial Services & Supplies— continued |
| |||||||
APi Group DE, Inc. 4.13%, 7/15/2029 (a) |
967,000 | 891,013 | ||||||
Aramark Services, Inc. |
||||||||
6.38%, 5/1/2025 (a) |
574,000 | 594,377 | ||||||
5.00%, 2/1/2028 (a) |
2,278,000 | 2,282,066 | ||||||
Brink’s Co. (The) |
||||||||
4.63%, 10/15/2027 (a) |
886,000 | 864,736 | ||||||
CoreCivic, Inc. 4.63%, 5/1/2023 |
925,000 | 925,203 | ||||||
8.25%, 4/15/2026 |
925,000 | 938,875 | ||||||
Covanta Holding Corp. 4.88%, 12/1/2029 (a) |
1,000,000 | 956,884 | ||||||
Garda World Security Corp. (Canada) 4.63%, 2/15/2027 (a) |
859,000 | 832,156 | ||||||
9.50%, 11/1/2027 (a) |
1,385,000 | 1,428,074 | ||||||
GFL Environmental, Inc. (Canada) 5.13%, 12/15/2026 (a) |
2,321,000 | 2,369,961 | ||||||
4.75%, 6/15/2029 (a) |
1,886,000 | 1,780,988 | ||||||
Harsco Corp. 5.75%, 7/31/2027 (a) |
500,000 | 492,500 | ||||||
Madison IAQ LLC 5.88%, 6/30/2029 (a) |
2,324,000 | 2,109,030 | ||||||
Nielsen Finance LLC 5.63%, 10/1/2028 (a) |
4,903,000 | 4,738,039 | ||||||
5.88%, 10/1/2030 (a) |
1,853,000 | 1,794,556 | ||||||
Prime Security Services Borrower LLC 5.25%, 4/15/2024 (a) |
1,737,000 | 1,771,740 | ||||||
5.75%, 4/15/2026 (a) |
5,102,000 | 5,242,662 | ||||||
6.25%, 1/15/2028 (a) |
1,390,000 | 1,341,350 | ||||||
Stericycle, Inc. 3.88%, 1/15/2029 (a) |
1,915,000 | 1,783,344 | ||||||
|
|
|||||||
43,213,124 | ||||||||
|
|
|||||||
Communications Equipment — 1.0% |
| |||||||
Avaya, Inc. 6.13%, 9/15/2028 (a) |
934,000 | 898,975 | ||||||
CommScope Technologies LLC 6.00%, 6/15/2025 (a) |
1,536,000 | 1,502,500 | ||||||
5.00%, 3/15/2027 (a) |
3,753,000 | 3,346,400 | ||||||
CommScope, Inc. 6.00%, 3/1/2026 (a) |
2,821,000 | 2,887,350 | ||||||
8.25%, 3/1/2027 (a) |
3,948,000 | 3,928,339 | ||||||
Nokia OYJ (Finland) 6.63%, 5/15/2039 |
574,000 | 685,930 | ||||||
Viasat, Inc. 5.63%, 4/15/2027 (a) |
778,000 | 777,198 | ||||||
6.50%, 7/15/2028 (a) |
574,000 | 529,515 | ||||||
|
|
|||||||
14,556,207 | ||||||||
|
|
|||||||
Construction & Engineering — 0.4% |
| |||||||
AECOM 5.13%, 3/15/2027 |
1,385,000 | 1,419,625 | ||||||
Dycom Industries, Inc. 4.50%, 4/15/2029 (a) |
743,000 | 715,138 | ||||||
Global Infrastructure Solutions, Inc. 5.63%, 6/1/2029 (a) |
750,000 | 740,625 | ||||||
MasTec, Inc. 4.50%, 8/15/2028 (a) |
1,375,000 | 1,394,070 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Construction & Engineering — continued |
|
|||||||
Pike Corp. 5.50%, 9/1/2028 (a) |
1,124,000 | 1,081,850 | ||||||
Weekley Homes LLC 4.88%, 9/15/2028 (a) |
925,000 | 879,869 | ||||||
|
|
|||||||
6,231,177 | ||||||||
|
|
|||||||
Consumer Finance — 4.7% |
| |||||||
Ally Financial, Inc. 5.75%, 11/20/2025 |
943,000 | 1,003,965 | ||||||
Curo Group Holdings Corp. 7.50%, 8/1/2028 (a) |
1,868,000 | 1,657,850 | ||||||
FirstCash, Inc. 5.63%, 1/1/2030 (a) |
979,000 | 972,147 | ||||||
Ford Motor Credit Co. LLC |
||||||||
5.58%, 3/18/2024 |
7,950,000 | 8,268,000 | ||||||
5.13%, 6/16/2025 |
6,225,000 | 6,511,350 | ||||||
4.13%, 8/17/2027 |
17,950,000 | 18,080,138 | ||||||
4.00%, 11/13/2030 |
2,050,000 | 2,033,600 | ||||||
Global Aircraft Leasing Co. Ltd. (Cayman Islands) 6.50% (cash), 9/15/2024 (a)(b) |
2,785,413 | 2,646,142 | ||||||
Navient Corp. |
||||||||
7.25%, 9/25/2023 |
1,868,000 | 1,959,513 | ||||||
5.88%, 10/25/2024 |
3,322,000 | 3,435,995 | ||||||
OneMain Finance Corp. |
||||||||
6.13%, 3/15/2024 |
5,786,000 | 5,959,580 | ||||||
7.13%, 3/15/2026 |
10,125,000 | 10,975,500 | ||||||
3.88%, 9/15/2028 |
2,862,000 | 2,650,927 | ||||||
SLM Corp. 4.20%, 10/29/2025 |
1,000,000 | 1,005,000 | ||||||
VistaJet Malta Finance plc (Switzerland) 6.38%, 2/1/2030 (a) |
1,297,000 | 1,234,147 | ||||||
|
|
|||||||
68,393,854 | ||||||||
|
|
|||||||
Containers & Packaging — 1.9% |
| |||||||
Ardagh Metal Packaging Finance USA LLC |
||||||||
3.25%, 9/1/2028 (a) |
600,000 | 563,868 | ||||||
4.00%, 9/1/2029 (a) |
1,000,000 | 937,800 | ||||||
Ardagh Packaging Finance plc |
||||||||
5.25%, 4/30/2025 (a) |
410,000 | 415,373 | ||||||
4.13%, 8/15/2026 (a) |
1,500,000 | 1,451,250 | ||||||
5.25%, 8/15/2027 (a) |
3,700,000 | 3,517,084 | ||||||
Ball Corp. |
||||||||
5.25%, 7/1/2025 |
574,000 | 608,440 | ||||||
3.13%, 9/15/2031 |
3,137,000 | 2,880,989 | ||||||
Graham Packaging Co., Inc. 7.13%, 8/15/2028 (a) |
1,035,000 | 996,187 | ||||||
Graphic Packaging International LLC |
||||||||
4.75%, 7/15/2027 (a) |
1,347,000 | 1,380,675 | ||||||
3.50%, 3/15/2028 (a) |
250,000 | 237,500 | ||||||
LABL, Inc. 6.75%, 7/15/2026 (a) |
1,150,000 | 1,152,875 |
SEE NOTES TO FINANCIAL STATEMENTS.
82 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
|
|||||||
Containers & Packaging— continued |
| |||||||
Mauser Packaging Solutions Holding Co. |
||||||||
5.50%, 4/15/2024 (a) |
2,546,000 | 2,533,270 | ||||||
7.25%, 4/15/2025 (a) |
3,416,000 | 3,356,220 | ||||||
Owens-Brockway Glass Container, Inc. 6.63%, 5/13/2027 (a) |
2,038,000 | 2,114,425 | ||||||
Pactiv Evergreen Group Issuer, Inc. 4.00%, 10/15/2027 (a) |
1,605,000 | 1,488,357 | ||||||
Sealed Air Corp. 6.88%, 7/15/2033 (a) |
1,405,000 | 1,601,700 | ||||||
TriMas Corp. 4.13%, 4/15/2029 (a) |
500,000 | 470,555 | ||||||
Trivium Packaging Finance BV (Netherlands) 5.50%, 8/15/2026 (a) (e) |
1,275,000 | 1,286,845 | ||||||
|
|
|||||||
26,993,413 | ||||||||
|
|
|||||||
Distributors — 0.4% |
| |||||||
American Builders & Contractors Supply Co., Inc. 4.00%, 1/15/2028 (a) |
1,518,000 | 1,483,845 | ||||||
Ritchie Bros Holdings, Inc. (Canada) 4.75%, 12/15/2031 (a) |
979,000 | 972,715 | ||||||
Wolverine Escrow LLC |
||||||||
8.50%, 11/15/2024 (a) |
1,588,000 | 1,352,500 | ||||||
9.00%, 11/15/2026 (a) |
1,791,000 | 1,790,999 | ||||||
|
|
|||||||
5,600,059 | ||||||||
|
|
|||||||
Diversified Consumer Services — 0.0% (d) |
| |||||||
Service Corp. International |
||||||||
5.13%, 6/1/2029 |
547,000 | 560,675 | ||||||
|
|
|||||||
Diversified Financial Services — 0.4% |
| |||||||
MPH Acquisition Holdings LLC |
||||||||
5.50%, 9/1/2028 (a) |
943,000 | 914,757 | ||||||
5.75%, 11/1/2028 (a) |
943,000 | 851,058 | ||||||
Oxford Finance LLC 6.38%, 2/1/2027 (a) |
988,000 | 1,011,159 | ||||||
Sabre GLBL, Inc. 9.25%, 4/15/2025 (a) |
1,333,000 | 1,503,304 | ||||||
Verscend Escrow Corp. 9.75%, 8/15/2026 (a) |
925,000 | 964,312 | ||||||
|
|
|||||||
5,244,590 | ||||||||
|
|
|||||||
Diversified Telecommunication Services —6.1% |
| |||||||
Altice France Holding SA (Luxembourg) |
||||||||
10.50%, 5/15/2027 (a) |
1,500,000 | 1,570,500 | ||||||
6.00%, 2/15/2028 (a) |
1,000,000 | 885,740 | ||||||
Altice France SA (France) |
||||||||
5.50%, 1/15/2028 (a) |
8,000,000 | 7,480,000 | ||||||
5.13%, 1/15/2029 (a) |
2,500,000 | 2,268,750 | ||||||
CCO Holdings LLC |
||||||||
5.13%, 5/1/2027 (a) |
5,164,000 | 5,215,640 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Diversified Telecommunication Services — continued |
|
|||||||
5.38%, 6/1/2029 (a) |
9,074,000 | 9,215,826 | ||||||
4.75%, 3/1/2030 (a) |
14,812,000 | 14,545,162 | ||||||
Embarq Corp. 8.00%, 6/1/2036 |
2,241,000 | 2,212,988 | ||||||
Frontier Communications Holdings LLC |
||||||||
5.88%, 10/15/2027 (a) |
1,552,000 | 1,573,945 | ||||||
5.00%, 5/1/2028 (a) |
2,870,000 | 2,786,053 | ||||||
6.75%, 5/1/2029 (a) |
1,622,000 | 1,574,629 | ||||||
Iliad Holding SASU (France) |
||||||||
6.50%, 10/15/2026 (a) |
1,000,000 | 997,500 | ||||||
7.00%, 10/15/2028 (a) |
1,000,000 | 994,660 | ||||||
Level 3 Financing, Inc. |
||||||||
4.63%, 9/15/2027 (a) |
2,931,000 | 2,828,415 | ||||||
4.25%, 7/1/2028 (a) |
1,886,000 | 1,741,514 | ||||||
Lumen Technologies, Inc. |
||||||||
Series Y, |
||||||||
7.50%, 4/1/2024 |
1,554,000 | 1,629,758 | ||||||
4.00%, 2/15/2027 (a) |
4,291,000 | 4,083,187 | ||||||
5.38%, 6/15/2029 (a) |
943,000 | 819,872 | ||||||
Sprint Capital Corp. |
||||||||
6.88%, 11/15/2028 |
5,676,000 | 6,740,080 | ||||||
8.75%, 3/15/2032 |
2,870,000 | 3,982,125 | ||||||
Switch Ltd. 3.75%, 9/15/2028 (a) |
2,036,000 | 1,931,818 | ||||||
Telecom Italia Capital SA (Italy) |
||||||||
6.00%, 9/30/2034 |
925,000 | 884,189 | ||||||
7.72%, 6/4/2038 |
2,810,000 | 2,909,038 | ||||||
Telecom Italia SpA (Italy) 5.30%, 5/30/2024 (a) |
1,251,000 | 1,287,485 | ||||||
Telesat Canada (Canada) 5.63%, 12/6/2026 (a) |
1,000,000 | 735,000 | ||||||
Virgin Media Secured Finance plc (United Kingdom) |
||||||||
5.50%, 5/15/2029 (a) |
2,120,000 | 2,118,080 | ||||||
4.50%, 8/15/2030 (a) |
2,465,000 | 2,330,583 | ||||||
Windstream Escrow LLC 7.75%, 8/15/2028 (a) |
967,000 | 976,090 | ||||||
Zayo Group Holdings, Inc. |
||||||||
4.00%, 3/1/2027 (a) |
1,417,000 | 1,347,142 | ||||||
6.13%, 3/1/2028 (a) |
1,012,000 | 940,381 | ||||||
|
|
|||||||
88,606,150 | ||||||||
|
|
|||||||
Electric Utilities — 2.1% |
| |||||||
FirstEnergy Corp. |
||||||||
2.65%, 3/1/2030 |
1,906,000 | 1,790,992 | ||||||
Series C, 7.38%, 11/15/2031 |
1,735,000 | 2,172,359 | ||||||
Series C, 5.35%, 7/15/2047 (e) |
1,435,000 | 1,516,293 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 83 |
JPMorgan High Yield Research Enhanced ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
|
|||||||
Electric Utilities — continued |
| |||||||
NextEra Energy Operating Partners LP |
||||||||
4.50%, 9/15/2027 (a) |
3,052,000 | 3,067,260 | ||||||
NRG Energy, Inc. |
||||||||
5.75%, 1/15/2028 |
1,129,000 | 1,154,380 | ||||||
5.25%, 6/15/2029 (a) |
4,746,000 | 4,840,920 | ||||||
3.63%, 2/15/2031 (a) |
2,840,000 | 2,611,124 | ||||||
PG&E Corp. 5.25%, 7/1/2030 |
3,883,000 | 3,857,100 | ||||||
Vistra Operations Co. LLC |
||||||||
5.63%, 2/15/2027 (a) |
7,670,000 | 7,853,390 | ||||||
4.38%, 5/1/2029 (a) |
1,405,000 | 1,361,501 | ||||||
|
|
|||||||
30,225,319 | ||||||||
|
|
|||||||
Electrical Equipment — 0.0% (d) |
| |||||||
EnerSys 5.00%, 4/30/2023 (a) |
792,000 | 803,310 | ||||||
|
|
|||||||
Electronic Equipment, Instruments & Components — 0.5% |
| |||||||
II-VI, Inc. 5.00%, 12/15/2029 (a) |
2,000,000 | 1,997,840 | ||||||
Sensata Technologies, Inc. |
||||||||
4.38%, 2/15/2030 (a) |
3,712,000 | 3,609,920 | ||||||
3.75%, 2/15/2031 (a) |
1,310,000 | 1,218,300 | ||||||
|
|
|||||||
6,826,060 | ||||||||
|
|
|||||||
Energy Equipment & Services — 0.7% |
| |||||||
Archrock Partners LP |
||||||||
6.88%, 4/1/2027 (a) |
1,718,000 | 1,763,596 | ||||||
6.25%, 4/1/2028 (a) |
712,000 | 712,000 | ||||||
Nabors Industries Ltd. 7.25%, 1/15/2026 (a) |
662,000 | 645,450 | ||||||
Nabors Industries, Inc. 5.75%, 2/1/2025 |
1,906,000 | 1,825,948 | ||||||
Oceaneering International, Inc. 4.65%, 11/15/2024 |
562,000 | 553,078 | ||||||
Precision Drilling Corp. (Canada) 7.13%, 1/15/2026 (a) |
700,000 | 707,875 | ||||||
Transocean Guardian Ltd. 5.88%, 1/15/2024 (a) |
1,026,630 | 982,187 | ||||||
Transocean Pontus Ltd. 6.13%, 8/1/2025 (a) |
861,000 | 848,085 | ||||||
Transocean, Inc. 11.50%, 1/30/2027 (a) |
934,000 | 934,000 | ||||||
USA Compression Partners LP 6.88%, 4/1/2026 |
811,000 | 814,447 | ||||||
|
|
|||||||
9,786,666 | ||||||||
|
|
|||||||
Entertainment — 1.5% |
| |||||||
Banijay Entertainment SASU (France) 5.38%, 3/1/2025 (a) |
450,000 | 445,500 | ||||||
Cinemark USA, Inc. |
||||||||
8.75%, 5/1/2025 (a) |
861,000 | 901,898 | ||||||
5.25%, 7/15/2028 (a) |
1,636,000 | 1,560,400 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Entertainment — continued |
||||||||
Live Nation Entertainment, Inc. |
||||||||
4.88%, 11/1/2024 (a) |
2,070,000 | 2,090,389 | ||||||
6.50%, 5/15/2027 (a) |
4,189,000 | 4,484,995 | ||||||
Netflix, Inc. 5.88%, 11/15/2028 |
7,959,000 | 8,998,843 | ||||||
ROBLOX Corp. 3.88%, 5/1/2030 (a) |
900,000 | 855,788 | ||||||
WMG Acquisition Corp. |
||||||||
3.88%, 7/15/2030 (a) |
1,125,000 | 1,080,000 | ||||||
3.00%, 2/15/2031 (a) |
841,000 | 760,373 | ||||||
|
|
|||||||
21,178,186 | ||||||||
|
|
|||||||
Equity Real Estate Investment Trusts (REITs) — 3.5% |
| |||||||
Brookfield Property REIT, Inc. 5.75%, 5/15/2026(a) |
1,622,000 | 1,604,628 | ||||||
4.50%, 4/1/2027 (a) |
529,000 | 493,293 | ||||||
HAT Holdings I LLC |
||||||||
3.38%, 6/15/2026 (a) |
1,405,000 | 1,331,237 | ||||||
3.75%, 9/15/2030 (a) |
1,156,000 | 1,063,520 | ||||||
Iron Mountain, Inc. |
||||||||
4.88%, 9/15/2027 (a) |
2,268,000 | 2,270,767 | ||||||
5.00%, 7/15/2028 (a) |
2,413,000 | 2,390,245 | ||||||
4.88%, 9/15/2029 (a) |
979,000 | 947,183 | ||||||
iStar, Inc. 4.75%, 10/1/2024 |
3,260,000 | 3,284,450 | ||||||
MGM Growth Properties Operating Partnership LP |
||||||||
5.63%, 5/1/2024 |
3,665,000 | 3,804,869 | ||||||
5.75%, 2/1/2027 |
3,368,000 | 3,645,860 | ||||||
3.88%, 2/15/2029 (a) |
1,964,000 | 1,973,820 | ||||||
MPT Operating Partnership LP 4.63%, 8/1/2029 |
4,765,000 | 4,782,869 | ||||||
Park Intermediate Holdings LLC |
||||||||
7.50%, 6/1/2025 (a) |
925,000 | 966,625 | ||||||
5.88%, 10/1/2028 (a) |
5,126,000 | 5,220,216 | ||||||
RHP Hotel Properties LP 4.75%, 10/15/2027 |
3,072,000 | 3,002,880 | ||||||
SBA Communications Corp. |
||||||||
3.88%, 2/15/2027 |
1,375,000 | 1,372,621 | ||||||
3.13%, 2/1/2029 |
1,000,000 | 928,800 | ||||||
Uniti Group LP |
||||||||
7.88%, 2/15/2025 (a) |
2,506,000 | 2,610,688 | ||||||
6.50%, 2/15/2029 (a) |
2,258,000 | 2,092,647 | ||||||
VICI Properties LP |
||||||||
4.25%, 12/1/2026 (a) |
4,009,000 | 4,049,090 | ||||||
4.63%, 12/1/2029 (a) |
3,413,000 | 3,481,260 | ||||||
|
|
|||||||
51,317,568 | ||||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
84 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
|
|||||||
Food & Staples Retailing — 1.0% |
| |||||||
Albertsons Cos., Inc. 4.63%, 1/15/2027 (a) |
2,508,000 | 2,519,004 | ||||||
5.88%, 2/15/2028 (a) |
2,151,000 | 2,223,596 | ||||||
4.88%, 2/15/2030 (a) |
2,541,000 | 2,547,353 | ||||||
Performance Food Group, Inc. 5.50%, 10/15/2027 (a) |
3,189,000 | 3,244,807 | ||||||
Rite Aid Corp. 8.00%, 11/15/2026(a) |
2,603,000 | 2,477,887 | ||||||
US Foods, Inc. |
||||||||
6.25%, 4/15/2025 (a) |
792,000 | 819,166 | ||||||
4.75%, 2/15/2029 (a) |
982,000 | 971,394 | ||||||
|
|
|||||||
14,803,207 | ||||||||
|
|
|||||||
Food Products — 2.2% |
| |||||||
B&G Foods, Inc. 5.25%, 9/15/2027 |
2,267,000 | 2,260,403 | ||||||
Darling Ingredients, Inc. |
||||||||
5.25%, 4/15/2027 (a) |
600,000 | 610,536 | ||||||
Kraft Heinz Foods Co. |
||||||||
3.88%, 5/15/2027 |
3,091,000 | 3,200,576 | ||||||
5.00%, 7/15/2035 |
2,375,000 | 2,668,906 | ||||||
4.38%, 6/1/2046 |
5,955,000 | 6,103,875 | ||||||
Lamb Weston Holdings, Inc. |
||||||||
4.88%, 5/15/2028 (a) |
2,850,000 | 2,928,375 | ||||||
Pilgrim’s Pride Corp. |
||||||||
5.88%, 9/30/2027 (a) |
2,195,000 | 2,256,032 | ||||||
4.25%, 4/15/2031 (a) |
1,000,000 | 965,925 | ||||||
Post Holdings, Inc. |
||||||||
5.75%, 3/1/2027 (a) |
1,405,000 | 1,419,753 | ||||||
5.50%, 12/15/2029 (a) |
10,232,000 | 10,317,795 | ||||||
|
|
|||||||
32,732,176 | ||||||||
|
|
|||||||
Gas Utilities — 0.2% |
| |||||||
AmeriGas Partners LP 5.88%, 8/20/2026 |
2,248,000 | 2,294,432 | ||||||
Suburban Propane Partners LP |
||||||||
5.00%, 6/1/2031 (a) |
955,000 | 907,250 | ||||||
Superior Plus LP (Canada) |
||||||||
4.50%, 3/15/2029 (a) |
557,000 | 531,239 | ||||||
|
|
|||||||
3,732,921 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies — 0.6% |
| |||||||
Avantor Funding, Inc. |
||||||||
4.63%, 7/15/2028 (a) |
2,508,000 | 2,545,620 | ||||||
Hologic, Inc. |
||||||||
3.25%, 2/15/2029 (a) |
1,679,000 | 1,590,853 | ||||||
Mozart Debt Merger Sub, Inc. |
||||||||
3.88%, 4/1/2029 (a) |
2,500,000 | 2,372,087 | ||||||
5.25%, 10/1/2029 (a) |
1,500,000 | 1,432,500 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Health Care Equipment & Supplies — continued |
|
|||||||
Teleflex, Inc. |
||||||||
4.25%, 6/1/2028 (a) |
1,157,000 | 1,142,538 | ||||||
|
|
|||||||
9,083,598 | ||||||||
|
|
|||||||
Health Care Providers & Services — 6.3% |
| |||||||
Acadia Healthcare Co., Inc. |
||||||||
5.50%, 7/1/2028 (a) |
1,158,000 | 1,160,895 | ||||||
AdaptHealth LLC 4.63%, 8/1/2029 (a) |
1,200,000 | 1,082,586 | ||||||
Centene Corp. |
||||||||
4.25%, 12/15/2027 |
5,796,000 | 5,933,075 | ||||||
4.63%, 12/15/2029 |
10,052,000 | 10,353,560 | ||||||
3.38%, 2/15/2030 |
2,870,000 | 2,753,679 | ||||||
2.50%, 3/1/2031 |
5,945,000 | 5,473,829 | ||||||
Community Health Systems, Inc. |
||||||||
8.00%, 3/15/2026 (a) |
2,269,000 | 2,354,088 | ||||||
5.63%, 3/15/2027 (a) |
5,984,000 | 6,033,069 | ||||||
6.88%, 4/15/2029 (a) |
2,842,000 | 2,755,887 | ||||||
DaVita, Inc. |
||||||||
4.63%, 6/1/2030 (a) |
3,655,000 | 3,504,231 | ||||||
3.75%, 2/15/2031 (a) |
2,402,000 | 2,194,828 | ||||||
Encompass Health Corp. |
||||||||
4.50%, 2/1/2028 |
1,435,000 | 1,397,009 | ||||||
4.75%, 2/1/2030 |
2,528,000 | 2,413,987 | ||||||
Envision Healthcare Corp. |
||||||||
8.75%, 10/15/2026 (a) |
770,000 | 408,100 | ||||||
HCA, Inc. |
||||||||
5.38%, 9/1/2026 |
2,866,000 | 3,083,802 | ||||||
5.63%, 9/1/2028 |
7,077,000 | 7,841,457 | ||||||
5.88%, 2/1/2029 |
5,080,000 | 5,676,900 | ||||||
Legacy LifePoint Health LLC |
||||||||
4.38%, 2/15/2027 (a) |
1,039,000 | 984,453 | ||||||
MEDNAX, Inc. 5.38%, 2/15/2030 (a) |
500,000 | 497,500 | ||||||
Molina Healthcare, Inc. |
||||||||
4.38%, 6/15/2028 (a) |
2,635,000 | 2,631,706 | ||||||
Radiology Partners, Inc. |
||||||||
9.25%, 2/1/2028 (a) |
1,409,000 | 1,405,478 | ||||||
RegionalCare Hospital Partners Holdings, Inc. 9.75%, 12/1/2026 (a) |
1,028,000 | 1,078,259 | ||||||
RP Escrow Issuer LLC |
||||||||
5.25%, 12/15/2025 (a) |
943,000 | 921,782 | ||||||
Select Medical Corp. 6.25%, 8/15/2026 (a) |
859,000 | 870,274 | ||||||
Surgery Center Holdings, Inc. |
||||||||
6.75%, 7/1/2025 (a) |
900,000 | 895,500 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 85 |
JPMorgan High Yield Research Enhanced ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
|
|||||||
Health Care Providers & Services — continued |
|
|||||||
Tenet Healthcare Corp. |
||||||||
6.25%, 2/1/2027 (a) |
3,413,000 | 3,510,100 | ||||||
5.13%, 11/1/2027 (a) |
10,791,000 | 10,999,266 | ||||||
4.63%, 6/15/2028 (a) |
955,000 | 935,900 | ||||||
6.13%, 10/1/2028 (a) |
1,435,000 | 1,453,655 | ||||||
6.88%, 11/15/2031 |
1,412,000 | 1,507,635 | ||||||
|
|
|||||||
92,112,490 | ||||||||
|
|
|||||||
Health Care Technology — 0.2% |
| |||||||
IQVIA, Inc. 5.00%, 5/15/2027 (a) |
2,576,000 | 2,635,068 | ||||||
|
|
|||||||
Hotels, Restaurants & Leisure — 8.1% |
| |||||||
1011778 BC ULC (Canada) |
||||||||
3.88%, 1/15/2028 (a) |
5,217,000 | 5,073,532 | ||||||
4.38%, 1/15/2028 (a) |
4,295,000 | 4,214,469 | ||||||
Bloomin’ Brands, Inc. 5.13%, 4/15/2029 (a) |
500,000 | 488,735 | ||||||
Boyd Gaming Corp. 4.75%, 12/1/2027 |
3,766,000 | 3,780,782 | ||||||
Caesars Entertainment, Inc. |
||||||||
8.13%, 7/1/2027 (a) |
4,696,000 | 5,062,194 | ||||||
4.63%, 10/15/2029 (a) |
2,810,000 | 2,665,988 | ||||||
Caesars Resort Collection LLC |
||||||||
5.75%, 7/1/2025 (a) |
3,148,000 | 3,228,069 | ||||||
Carnival Corp. 5.75%, 3/1/2027 (a) |
3,423,000 | 3,334,019 | ||||||
9.88%, 8/1/2027 (a) |
7,461,000 | 8,374,973 | ||||||
Cedar Fair LP |
||||||||
5.50%, 5/1/2025 (a) |
3,127,000 | 3,214,149 | ||||||
5.25%, 7/15/2029 |
1,303,000 | 1,301,417 | ||||||
Churchill Downs, Inc. 5.50%, 4/1/2027 (a) |
1,098,000 | 1,113,647 | ||||||
Hilton Domestic Operating Co., Inc. |
||||||||
5.75%, 5/1/2028(a) |
1,375,000 | 1,436,875 | ||||||
4.88%, 1/15/2030 |
4,545,000 | 4,675,623 | ||||||
Hilton Grand Vacations Borrower Escrow LLC 5.00%, 6/1/2029 (a) |
943,000 | 924,140 | ||||||
Hilton Worldwide Finance LLC |
||||||||
4.88%, 4/1/2027 |
3,279,000 | 3,348,679 | ||||||
International Game Technology plc |
||||||||
6.50%, 2/15/2025 (a) |
2,330,000 | 2,475,625 | ||||||
5.25%, 1/15/2029 (a) |
2,270,000 | 2,315,445 | ||||||
IRB Holding Corp. 7.00%, 6/15/2025 (a) |
1,958,000 | 2,045,728 | ||||||
Life Time, Inc. |
||||||||
5.75%, 1/15/2026 (a) |
925,000 | 920,375 | ||||||
8.00%, 4/15/2026 (a) |
500,000 | 498,790 | ||||||
Marriott Ownership Resorts, Inc. |
||||||||
6.13%, 9/15/2025 (a) |
315,000 | 325,238 | ||||||
4.75%, 1/15/2028 |
1,436,000 | 1,403,295 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Hotels, Restaurants & Leisure — continued |
|
|||||||
Melco Resorts Finance Ltd. (Hong Kong) |
||||||||
5.75%, 7/21/2028 (a) |
750,000 | 674,438 | ||||||
5.38%, 12/4/2029 (a) |
750,000 | 648,450 | ||||||
MGM China Holdings Ltd. (Macau) |
||||||||
5.88%, 5/15/2026 (a) |
2,250,000 | 2,150,578 | ||||||
MGM Resorts International |
||||||||
5.50%, 4/15/2027 |
3,128,000 | 3,227,940 | ||||||
Midwest Gaming Borrower LLC |
||||||||
4.88%, 5/1/2029 (a) |
1,375,000 | 1,340,625 | ||||||
Peninsula Pacific Entertainment LLC |
||||||||
8.50%, 11/15/2027 (a) |
700,000 | 775,026 | ||||||
Penn National Gaming, Inc. |
||||||||
4.13%, 7/1/2029 (a) |
1,200,000 | 1,110,000 | ||||||
Premier Entertainment Sub LLC |
||||||||
5.63%, 9/1/2029 (a) |
1,405,000 | 1,274,377 | ||||||
Royal Caribbean Cruises Ltd. |
||||||||
11.50%, 6/1/2025 (a) |
4,214,000 | 4,655,206 | ||||||
5.50%, 8/31/2026 (a) |
2,444,000 | 2,432,452 | ||||||
Scientific Games International, Inc. |
||||||||
5.00%, 10/15/2025 (a) |
3,333,000 | 3,366,330 | ||||||
8.25%, 3/15/2026 (a) |
1,385,000 | 1,446,633 | ||||||
7.25%, 11/15/2029 (a) |
925,000 | 982,812 | ||||||
Six Flags Entertainment Corp. |
||||||||
5.50%, 4/15/2027 (a) |
939,000 | 947,014 | ||||||
Six Flags Theme Parks, Inc. |
||||||||
7.00%, 7/1/2025 (a) |
2,242,000 | 2,341,623 | ||||||
Station Casinos LLC 4.50%, 2/15/2028(a) |
1,709,000 | 1,642,776 | ||||||
Travel + Leisure Co. |
||||||||
6.63%, 7/31/2026 (a) |
925,000 | 987,437 | ||||||
6.00%, 4/1/2027 (e) |
832,000 | 867,660 | ||||||
Vail Resorts, Inc. 6.25%, 5/15/2025 (a) |
859,000 | 884,770 | ||||||
Viking Cruises Ltd. 5.88%, 9/15/2027 (a) |
1,405,000 | 1,310,148 | ||||||
VOC Escrow Ltd. 5.00%, 2/15/2028 (a) |
1,411,000 | 1,343,978 | ||||||
Wyndham Hotels & Resorts, Inc. |
||||||||
4.38%, 8/15/2028 (a) |
925,000 | 911,125 | ||||||
Wynn Las Vegas LLC 5.50%, 3/1/2025 (a) |
4,348,000 | 4,409,676 | ||||||
Wynn Macau Ltd. (Macau) |
||||||||
4.88%, 10/1/2024 (a) |
1,000,000 | 923,937 | ||||||
5.63%, 8/26/2028 (a) |
3,250,000 | 2,802,475 | ||||||
Wynn Resorts Finance LLC |
||||||||
5.13%, 10/1/2029 (a) |
1,982,000 | 1,907,675 | ||||||
Yum! Brands, Inc. |
||||||||
4.75%, 1/15/2030 (a) |
8,619,000 | 8,748,285 | ||||||
6.88%, 11/15/2037 |
820,000 | 934,800 | ||||||
|
|
|||||||
117,270,033 | ||||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
86 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
|
|||||||
Household Durables — 0.9% |
| |||||||
Beazer Homes USA, Inc. |
||||||||
5.88%, 10/15/2027 |
900,000 | 893,250 | ||||||
Brookfield Residential Properties, Inc. (Canada) |
||||||||
6.25%, 9/15/2027 (a) |
943,000 | 945,358 | ||||||
CD&R Smokey Buyer, Inc. |
||||||||
6.75%, 7/15/2025 (a) |
1,000,000 | 1,032,500 | ||||||
KB Home |
||||||||
4.80%, 11/15/2029 |
925,000 | 924,306 | ||||||
M/I Homes, Inc. |
||||||||
4.95%, 2/1/2028 |
556,000 | 543,490 | ||||||
Mattamy Group Corp. (Canada) |
||||||||
5.25%, 12/15/2027 (a) |
1,000,000 | 1,003,750 | ||||||
Meritage Homes Corp. |
||||||||
5.13%, 6/6/2027 |
811,000 | 841,413 | ||||||
Newell Brands, Inc. |
||||||||
4.70%, 4/1/2026 (e) |
1,675,000 | 1,733,935 | ||||||
6.00%, 4/1/2046 (e) |
1,693,000 | 1,892,655 | ||||||
Taylor Morrison Communities, Inc. |
||||||||
5.88%, 6/15/2027 (a) |
1,095,000 | 1,148,173 | ||||||
Tempur Sealy International, Inc. |
||||||||
4.00%, 4/15/2029 (a) |
100,000 | 94,242 | ||||||
Tri Pointe Homes, Inc. |
||||||||
5.70%, 6/15/2028 |
943,000 | 950,077 | ||||||
Williams Scotsman International, Inc. |
||||||||
4.63%, 8/15/2028 (a) |
943,000 | 930,034 | ||||||
|
|
|||||||
12,933,183 | ||||||||
|
|
|||||||
Household Products — 0.4% |
| |||||||
Central Garden & Pet Co. |
||||||||
5.13%, 2/1/2028 |
552,000 | 562,350 | ||||||
4.13%, 10/15/2030 |
587,000 | 557,533 | ||||||
Energizer Holdings, Inc. 4.75%, 6/15/2028 (a) |
2,189,000 | 2,068,605 | ||||||
Spectrum Brands, Inc. 5.50%, 7/15/2030 (a) |
2,523,000 | 2,510,385 | ||||||
|
|
|||||||
5,698,873 | ||||||||
|
|
|||||||
Independent Power and Renewable Electricity Producers — 0.5% |
| |||||||
Calpine Corp. |
||||||||
4.50%, 2/15/2028 (a) |
3,909,000 | 3,814,715 | ||||||
5.13%, 3/15/2028 (a) |
1,405,000 | 1,353,907 | ||||||
Clearway Energy Operating LLC |
||||||||
4.75%, 3/15/2028 (a) |
823,000 | 827,234 | ||||||
3.75%, 2/15/2031 (a) |
1,425,000 | 1,325,742 | ||||||
|
|
|||||||
7,321,598 | ||||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Insurance — 0.6% |
| |||||||
Alliant Holdings Intermediate LLC |
||||||||
4.25%, 10/15/2027 (a) |
943,000 | 909,995 | ||||||
6.75%, 10/15/2027 (a) |
1,868,000 | 1,825,970 | ||||||
AmWINS Group, Inc. 4.88%, 6/30/2029 (a) |
979,000 | 932,497 | ||||||
HUB International Ltd. |
||||||||
7.00%, 5/1/2026 (a) |
2,011,000 | 2,024,474 | ||||||
5.63%, 12/1/2029 (a) |
679,000 | 645,050 | ||||||
NFP Corp. |
||||||||
4.88%, 8/15/2028 (a) |
955,000 | 921,408 | ||||||
6.88%, 8/15/2028 (a) |
2,281,000 | 2,120,760 | ||||||
|
|
|||||||
9,380,154 | ||||||||
|
|
|||||||
Interactive Media & Services — 0.1% |
| |||||||
Rackspace Technology Global, Inc. |
||||||||
3.50%, 2/15/2028 (a) |
454,000 | 412,005 | ||||||
5.38%, 12/1/2028 (a) |
454,000 | 407,465 | ||||||
TripAdvisor, Inc. 7.00%, 7/15/2025 (a) |
725,000 | 750,375 | ||||||
|
|
|||||||
1,569,845 | ||||||||
|
|
|||||||
Internet & Direct Marketing Retail — 0.4% |
| |||||||
ANGI Group LLC 3.88%, 8/15/2028 (a) |
700,000 | 621,250 | ||||||
Go Daddy Operating Co. LLC 5.25%, 12/1/2027 (a) |
857,000 | 871,998 | ||||||
Match Group Holdings II LLC 4.63%, 6/1/2028 (a) |
574,000 | 575,728 | ||||||
Millennium Escrow Corp. 6.63%, 8/1/2026 (a) |
1,425,000 | 1,378,687 | ||||||
Photo Holdings Merger Sub, Inc. 8.50%, 10/1/2026 (a) |
709,000 | 704,037 | ||||||
QVC, Inc. 4.75%, 2/15/2027 |
2,060,000 | 1,936,400 | ||||||
|
|
|||||||
6,088,100 | ||||||||
|
|
|||||||
IT Services — 0.8% |
| |||||||
Ahead DB Holdings LLC 6.63%, 5/1/2028 (a) |
925,000 | 869,500 | ||||||
Arches Buyer, Inc. |
||||||||
4.25%, 6/1/2028 (a) |
1,472,000 | 1,393,984 | ||||||
6.13%, 12/1/2028 (a) |
655,000 | 615,700 | ||||||
Black Knight InfoServ LLC 3.63%, 9/1/2028 (a) |
861,000 | 815,049 | ||||||
Block, Inc. 3.50%, 6/1/2031 (a) |
1,000,000 | 939,040 | ||||||
Booz Allen Hamilton, Inc. 3.88%, 9/1/2028 (a) |
1,793,000 | 1,755,042 | ||||||
Conduent Business Services LLC 6.00%, 11/1/2029 (a) |
1,250,000 | 1,190,625 | ||||||
Gartner, Inc. 4.50%, 7/1/2028 (a) |
1,958,000 | 1,983,513 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 87 |
JPMorgan High Yield Research Enhanced ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
IT Services — continued |
| |||||||
Presidio Holdings, Inc. |
||||||||
4.88%, 2/1/2027 (a) |
748,000 | 746,130 | ||||||
8.25%, 2/1/2028 (a) |
1,133,000 | 1,160,645 | ||||||
|
|
|||||||
11,469,228 | ||||||||
|
|
|||||||
Leisure Products — 0.2% |
| |||||||
Mattel, Inc. |
||||||||
5.88%, 12/15/2027 (a) |
952,000 | 1,009,120 | ||||||
5.45%, 11/1/2041 |
978,000 | 1,080,005 | ||||||
Vista Outdoor, Inc. 4.50%, 3/15/2029 (a) |
600,000 | 562,500 | ||||||
|
|
|||||||
2,651,625 | ||||||||
|
|
|||||||
Life Sciences Tools & Services — 0.1% |
| |||||||
Charles River Laboratories International, Inc. 3.75%, 3/15/2029 (a) |
1,000,000 | 961,200 | ||||||
|
|
|||||||
Machinery — 0.7% |
| |||||||
EnPro Industries, Inc. 5.75%, 10/15/2026 |
500,000 | 518,743 | ||||||
Hillenbrand, Inc. 3.75%, 3/1/2031 |
1,888,000 | 1,802,294 | ||||||
Mueller Water Products, Inc. 4.00%, 6/15/2029 (a) |
700,000 | 668,402 | ||||||
Roller Bearing Co. of America, Inc. 4.38%, 10/15/2029 (a) |
500,000 | 482,500 | ||||||
Terex
Corp. |
850,000 | 841,696 | ||||||
Titan Acquisition Ltd. (Canada) 7.75%, 4/15/2026 (a) |
1,488,000 | 1,458,240 | ||||||
TK Elevator Holdco GmbH (Germany) 7.63%, 7/15/2028 (a) |
500,000 | 508,750 | ||||||
TK Elevator US Newco, Inc. (Germany) 5.25%, 7/15/2027 (a) |
3,000,000 | 2,970,000 | ||||||
Wabash National Corp. |
||||||||
4.50%, 10/15/2028 (a) |
594,000 | 563,379 | ||||||
|
|
|||||||
9,814,004 | ||||||||
|
|
|||||||
Media — 7.3% |
| |||||||
Altice Financing SA (Luxembourg) |
| |||||||
5.00%, 1/15/2028 (a) |
1,250,000 | 1,126,338 | ||||||
5.75%, 8/15/2029 (a) |
1,750,000 | 1,594,687 | ||||||
AMC Networks, Inc. |
||||||||
5.00%, 4/1/2024 |
313,000 | 312,684 | ||||||
4.75%, 8/1/2025 |
943,000 | 941,246 | ||||||
4.25%, 2/15/2029 |
943,000 | 882,884 | ||||||
Block Communications, Inc. 4.88%, 3/1/2028 (a) |
300,000 | 291,750 | ||||||
Cable One, Inc. 4.00%, 11/15/2030(a) |
750,000 | 693,735 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Media — continued |
||||||||
Clear Channel Outdoor Holdings, Inc 5.13%, 8/15/2027 (a) |
2,662,000 | 2,659,604 | ||||||
Clear Channel Outdoor Holdings, Inc. 7.50%, 6/1/2029 (a) |
3,397,000 | 3,530,027 | ||||||
CSC Holdings LLC |
||||||||
5.50%, 4/15/2027 (a) |
500,000 | 498,750 | ||||||
7.50%, 4/1/2028 (a) |
2,000,000 | 1,997,040 | ||||||
6.50%, 2/1/2029 (a) |
8,500,000 | 8,606,250 | ||||||
5.75%, 1/15/2030 (a) |
2,500,000 | 2,210,600 | ||||||
3.38%, 2/15/2031 (a) |
3,050,000 | 2,598,257 | ||||||
Directv Financing LLC 5.88%, 8/15/2027 (a) |
4,180,000 | 4,178,579 | ||||||
DISH DBS Corp. |
||||||||
5.88%, 11/15/2024 |
6,691,000 | 6,691,000 | ||||||
7.75%, 7/1/2026 |
2,261,000 | 2,289,692 | ||||||
5.25%, 12/1/2026 (a) |
1,923,000 | 1,885,141 | ||||||
7.38%, 7/1/2028 |
1,375,000 | 1,302,015 | ||||||
5.75%, 12/1/2028 (a) |
1,445,000 | 1,381,781 | ||||||
5.13%, 6/1/2029 |
943,000 | 795,657 | ||||||
Gannett Holdings LLC 6.00%, 11/1/2026 (a) |
450,000 | 447,750 | ||||||
Gray Television, Inc. |
||||||||
7.00%, 5/15/2027 (a) |
2,252,000 | 2,368,563 | ||||||
4.75%, 10/15/2030 (a) |
3,682,000 | 3,452,630 | ||||||
iHeartCommunications, Inc. |
||||||||
6.38%, 5/1/2026 |
3,023,999 | 3,118,499 | ||||||
8.38%, 5/1/2027 |
2,731,425 | 2,845,298 | ||||||
Lamar Media Corp. |
||||||||
3.75%, 2/15/2028 |
952,000 | 914,667 | ||||||
4.00%, 2/15/2030 |
712,000 | 685,318 | ||||||
LCPR Senior Secured Financing DAC 6.75%, 10/15/2027 (a) |
2,613,000 | 2,699,817 | ||||||
Liberty Interactive LLC 8.25%, 2/1/2030 |
925,000 | 906,500 | ||||||
McGraw-Hill Education, Inc. |
||||||||
5.75%, 8/1/2028 (a) |
712,000 | 675,795 | ||||||
8.00%, 8/1/2029 (a) |
462,000 | 422,979 | ||||||
Midas OpCo Holdings LLC 5.63%, 8/15/2029 (a) |
1,636,000 | 1,603,280 | ||||||
News Corp. 3.88%, 5/15/2029 (a) |
2,100,000 | 2,010,750 | ||||||
Nexstar Media, Inc. 5.63%, 7/15/2027 (a) |
1,810,000 | 1,850,725 | ||||||
4.75%, 11/1/2028 (a) |
1,183,000 | 1,147,510 | ||||||
Outfront Media Capital LLC |
||||||||
5.00%, 8/15/2027 (a) |
1,520,000 | 1,506,320 | ||||||
4.25%, 1/15/2029(a) |
967,000 | 922,344 |
SEE NOTES TO FINANCIAL STATEMENTS.
88 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Media — continued |
| |||||||
Radiate Holdco LLC |
||||||||
4.50%, 9/15/2026 (a) |
968,000 | 924,919 | ||||||
6.50%, 9/15/2028 (a) |
468,000 | 444,600 | ||||||
Scripps Escrow II, Inc. 3.88%, 1/15/2029 (a) |
890,000 | 834,055 | ||||||
Scripps Escrow, Inc. 5.88%, 7/15/2027 (a) |
1,545,000 | 1,541,995 | ||||||
Sinclair Television Group, Inc. |
||||||||
5.50%, 3/1/2030 (a) |
1,791,000 | 1,571,602 | ||||||
4.13%, 12/1/2030 (a) |
943,000 | 844,268 | ||||||
Sirius XM Radio, Inc. |
||||||||
5.00%, 8/1/2027 (a) |
2,807,000 | 2,844,993 | ||||||
5.50%, 7/1/2029 (a) |
5,008,000 | 5,120,680 | ||||||
4.13%, 7/1/2030 (a) |
4,331,000 | 4,093,748 | ||||||
3.88%, 9/1/2031 (a) |
1,425,000 | 1,312,809 | ||||||
Summer BC Bidco B LLC 5.50%, 10/31/2026 (a) |
600,000 | 579,000 | ||||||
TEGNA, Inc. 5.00%, 9/15/2029 |
4,187,000 | 4,175,486 | ||||||
Univision Communications, Inc. |
||||||||
5.13%, 2/15/2025 (a) |
1,361,000 | 1,369,702 | ||||||
6.63%, 6/1/2027 (a) |
1,434,000 | 1,491,360 | ||||||
4.50%, 5/1/2029 (a) |
1,206,000 | 1,154,365 | ||||||
UPC Holding BV (Netherlands) 5.50%, 1/15/2028 (a) |
1,500,000 | 1,492,500 | ||||||
Urban One, Inc. 7.38%, 2/1/2028 (a) |
750,000 | 746,250 | ||||||
Ziggo Bond Co. BV (Netherlands) 5.13%, 2/28/2030 (a) |
1,250,000 | 1,165,625 | ||||||
Ziggo BV (Netherlands) 4.88%, 1/15/2030 (a) |
1,000,000 | 960,180 | ||||||
|
|
|||||||
106,714,599 | ||||||||
|
|
|||||||
Metals & Mining — 2.0% |
| |||||||
Alcoa Nederland Holding BV 6.13%, 5/15/2028 (a) |
1,750,000 | 1,841,875 | ||||||
Allegheny Technologies, Inc. 5.88%, 12/1/2027 |
2,525,000 | 2,576,762 | ||||||
Arconic Corp. 6.13%, 2/15/2028 (a) |
2,942,000 | 3,008,195 | ||||||
Big River Steel LLC 6.63%, 1/31/2029 (a) |
1,036,000 | 1,082,620 | ||||||
Carpenter Technology Corp. 6.38%, 7/15/2028 |
1,435,000 | 1,447,556 | ||||||
Cleveland-Cliffs, Inc. |
||||||||
9.88%, 10/17/2025 (a) |
1,613,000 | 1,790,430 | ||||||
5.88%, 6/1/2027 |
1,340,000 | 1,380,334 | ||||||
4.63%, 3/1/2029 (a) |
2,491,000 | 2,403,815 | ||||||
4.88%, 3/1/2031 (a) |
943,000 | 920,745 | ||||||
Constellium SE 5.63%, 6/15/2028 (a) |
2,000,000 | 2,013,960 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Metals & Mining — continued |
||||||||
ERO Copper Corp. (Brazil) 6.50%, 2/15/2030 (a) |
742,000 | 717,974 | ||||||
FMG Resources August 2006 Pty. Ltd. (Australia) 5.13%, 5/15/2024 (a) |
811,000 | 833,481 | ||||||
4.50%, 9/15/2027 (a) |
1,296,000 | 1,299,655 | ||||||
Kaiser
Aluminum Corp. |
949,000 | 896,112 | ||||||
4.50%, 6/1/2031 (a) |
949,000 | 854,689 | ||||||
Novelis Corp. 4.75%, 1/30/2030 (a) |
5,533,000 | 5,414,151 | ||||||
United States Steel Corp. 6.88%, 3/1/2029 |
1,000,000 | 1,027,450 | ||||||
|
|
|||||||
29,509,804 | ||||||||
|
|
|||||||
Multiline Retail — 0.3% |
| |||||||
NMG Holding Co., Inc. 7.13%, 4/1/2026 (a) |
1,848,000 | 1,903,440 | ||||||
Nordstrom, Inc. 4.38%, 4/1/2030 |
1,696,000 | 1,557,267 | ||||||
5.00%, 1/15/2044 |
955,000 | 840,400 | ||||||
|
|
|||||||
4,301,107 | ||||||||
|
|
|||||||
Oil, Gas & Consumable Fuels — 11.8% |
| |||||||
Antero
Midstream Partners LP |
2,217,000 | 2,258,103 | ||||||
5.75%, 1/15/2028 (a) |
2,769,000 | 2,810,535 | ||||||
Antero
Resources Corp. |
3,011,000 | 3,304,573 | ||||||
7.63%, 2/1/2029 (a) |
1,036,000 | 1,121,501 | ||||||
Apache
Corp. |
1,174,000 | 1,188,675 | ||||||
5.10%, 9/1/2040 |
4,226,000 | 4,226,423 | ||||||
Baytex Energy Corp. (Canada) 8.75%, 4/1/2027 (a) |
1,429,000 | 1,531,767 | ||||||
Blue Racer Midstream LLC 7.63%, 12/15/2025 (a) |
934,000 | 981,867 | ||||||
Buckeye
Partners LP |
418,000 | 403,370 | ||||||
4.50%, 3/1/2028 (a) |
4,059,000 | 3,856,050 | ||||||
California Resources Corp. 7.13%, 2/1/2026 (a) |
1,012,000 | 1,052,480 | ||||||
Cheniere Energy Partners LP 4.50%, 10/1/2029 |
9,380,000 | 9,560,096 | ||||||
Chesapeake
Energy Corp. |
1,920,000 | 1,973,165 | ||||||
6.75%, 4/15/2029 (a) |
1,705,000 | 1,802,526 | ||||||
CNX Resources Corp. 7.25%, 3/14/2027 (a) |
943,000 | 996,147 | ||||||
Comstock Resources, Inc. 6.75%, 3/1/2029 (a) |
4,307,000 | 4,382,588 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 89 |
JPMorgan High Yield Research Enhanced ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Oil, Gas & Consumable Fuels — continued |
| |||||||
CQP Holdco LP 5.50%, 6/15/2031 (a) |
1,250,000 | 1,243,750 | ||||||
Crestwood Midstream Partners LP 5.63%, 5/1/2027 (a) |
2,811,000 | 2,789,918 | ||||||
CrownRock LP 5.00%, 5/1/2029 (a) |
943,000 | 959,502 | ||||||
DCP Midstream Operating LP |
||||||||
5.38%, 7/15/2025 |
954,000 | 1,010,386 | ||||||
5.13%, 5/15/2029 |
3,325,000 | 3,499,563 | ||||||
DT Midstream, Inc. 4.13%, 6/15/2029 (a) |
3,726,000 | 3,595,590 | ||||||
Encino Acquisition Partners Holdings LLC 8.50%, 5/1/2028 (a) |
1,387,000 | 1,404,337 | ||||||
Endeavor Energy Resources LP |
||||||||
6.63%, 7/15/2025 (a) |
672,000 | 702,300 | ||||||
5.75%, 1/30/2028 (a) |
462,000 | 478,489 | ||||||
EnLink Midstream Partners LP |
||||||||
4.15%, 6/1/2025 |
1,429,000 | 1,430,786 | ||||||
5.45%, 6/1/2047 |
1,429,000 | 1,211,078 | ||||||
EQM Midstream Partners LP |
||||||||
4.00%, 8/1/2024 |
2,305,000 | 2,258,900 | ||||||
6.00%, 7/1/2025 (a) |
943,000 | 961,860 | ||||||
5.50%, 7/15/2028 |
4,517,000 | 4,434,610 | ||||||
4.50%, 1/15/2029 (a) |
1,420,000 | 1,325,925 | ||||||
6.50%, 7/15/2048 |
1,704,000 | 1,661,400 | ||||||
EQT Corp. 3.90%, 10/1/2027 |
4,764,000 | 4,814,951 | ||||||
Genesis Energy LP |
||||||||
6.50%, 10/1/2025 |
943,000 | 930,246 | ||||||
8.00%, 1/15/2027 |
1,636,000 | 1,653,759 | ||||||
Gulfport Energy Corp. 8.00%, 5/17/2026 |
951,057 | 1,005,743 | ||||||
Hess Infrastructure Partners LP 5.63%, 2/15/2026 (a) |
25,000 | 25,625 | ||||||
Hess Midstream Operations LP |
||||||||
5.63%, 2/15/2026 (a) |
585,000 | 599,625 | ||||||
5.13%, 6/15/2028 (a) |
1,046,000 | 1,068,316 | ||||||
Hilcorp Energy I LP 6.00%, 2/1/2031 (a) |
1,500,000 | 1,519,125 | ||||||
Holly Energy Partners LP 5.00%, 2/1/2028 (a) |
955,000 | 912,025 | ||||||
ITT Holdings LLC 6.50%, 8/1/2029 (a) |
934,000 | 875,625 | ||||||
Laredo Petroleum, Inc. 10.13%, 1/15/2028 |
943,000 | 997,223 | ||||||
MEG Energy Corp. (Canada) 7.13%, 2/1/2027 (a) |
1,387,000 | 1,446,849 | ||||||
Murphy Oil Corp. |
||||||||
5.75%, 8/15/2025 |
1,649,000 | 1,679,919 | ||||||
6.37%, 12/1/2042 (e) |
731,000 | 685,312 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Oil, Gas & Consumable Fuels — continued |
| |||||||
New Fortress Energy, Inc. 6.75%, 9/15/2025 (a) |
1,868,000 | 1,795,596 | ||||||
NGL Energy Operating LLC 7.50%, 2/1/2026 (a) |
2,810,000 | 2,821,591 | ||||||
NuStar Logistics LP |
||||||||
6.00%, 6/1/2026 |
905,000 | 919,480 | ||||||
5.63%, 4/28/2027 |
3,056,000 | 3,058,735 | ||||||
Occidental Petroleum Corp. |
||||||||
5.88%, 9/1/2025 |
1,340,000 | 1,437,150 | ||||||
3.40%, 4/15/2026 |
6,070,000 | 6,070,000 | ||||||
3.50%, 8/15/2029 |
3,073,000 | 3,057,635 | ||||||
6.45%, 9/15/2036 |
8,684,000 | 10,225,410 | ||||||
4.20%, 3/15/2048 |
2,405,000 | 2,248,675 | ||||||
PBF Holding Co. LLC 9.25%, 5/15/2025 (a) |
979,000 | 996,132 | ||||||
PDC Energy, Inc. |
||||||||
6.13%, 9/15/2024 |
454,000 | 457,405 | ||||||
5.75%, 5/15/2026 |
478,000 | 485,170 | ||||||
Range Resources Corp. |
||||||||
8.25%, 1/15/2029 |
2,758,000 | 3,022,272 | ||||||
4.75%, 2/15/2030 (a) |
1,000,000 | 978,750 | ||||||
Rockcliff Energy II LLC 5.50%, 10/15/2029(a) |
500,000 | 495,625 | ||||||
Rockies Express Pipeline LLC |
||||||||
4.95%, 7/15/2029 (a) |
1,302,000 | 1,259,685 | ||||||
6.88%, 4/15/2040 (a) |
574,000 | 585,480 | ||||||
SM Energy Co. 6.75%, 9/15/2026 |
2,005,000 | 2,025,050 | ||||||
Southwestern Energy Co. |
||||||||
7.75%, 10/1/2027 |
562,000 | 592,910 | ||||||
8.38%, 9/15/2028 |
1,160,000 | 1,265,850 | ||||||
5.38%, 3/15/2030 |
1,945,000 | 2,008,212 | ||||||
Summit Midstream Holdings LLC 8.50%, 10/15/2026 (a) |
1,553,000 | 1,537,470 | ||||||
Sunoco LP |
||||||||
6.00%, 4/15/2027 |
650,000 | 670,956 | ||||||
4.50%, 4/30/2030 (a) |
1,850,000 | 1,766,898 | ||||||
Tallgrass Energy Partners LP 5.50%, 1/15/2028 (a) |
5,455,000 | 5,257,256 | ||||||
Targa Resources Partners LP |
||||||||
5.88%, 4/15/2026 |
2,638,000 | 2,723,735 | ||||||
6.88%, 1/15/2029 |
6,201,000 | 6,749,231 | ||||||
5.50%, 3/1/2030 |
3,994,000 | 4,228,847 | ||||||
Venture Global Calcasieu Pass LLC 3.88%, 8/15/2029 (a) |
1,405,000 | 1,375,425 | ||||||
Viper Energy Partners LP 5.38%, 11/1/2027 (a) |
500,000 | 513,000 |
SEE NOTES TO FINANCIAL STATEMENTS.
90 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Oil, Gas & Consumable Fuels — continued |
| |||||||
Western Midstream Operating LP |
||||||||
4.75%, 8/15/2028 |
5,198,000 | 5,379,930 | ||||||
4.55%, 2/1/2030 (e) |
2,368,000 | 2,435,630 | ||||||
5.45%, 4/1/2044 |
3,291,000 | 3,373,275 | ||||||
5.30%, 3/1/2048 |
720,000 | 741,600 | ||||||
|
|
|||||||
171,192,669 | ||||||||
|
|
|||||||
Paper & Forest Products — 0.1% |
| |||||||
Glatfelter Corp. 4.75%, 11/15/2029 (a) |
486,000 | 461,272 | ||||||
Louisiana-Pacific Corp. 3.63%, 3/15/2029 (a) |
500,000 | 468,200 | ||||||
|
|
|||||||
929,472 | ||||||||
|
|
|||||||
Personal Products — 0.4% |
| |||||||
Coty, Inc. |
| |||||||
5.00%, 4/15/2026 (a) |
1,405,000 | 1,413,556 | ||||||
6.50%, 4/15/2026 (a) |
488,000 | 498,004 | ||||||
4.75%, 1/15/2029 (a) |
478,000 | 464,855 | ||||||
Edgewell Personal Care Co. 5.50%, 6/1/2028 (a) |
1,886,000 | 1,895,430 | ||||||
Herbalife Nutrition Ltd. 7.88%, 9/1/2025 (a) |
1,000,000 | 1,048,640 | ||||||
Prestige Brands, Inc. 5.13%, 1/15/2028 (a) |
684,000 | 684,855 | ||||||
|
|
|||||||
6,005,340 | ||||||||
|
|
|||||||
Pharmaceuticals — 3.0% |
| |||||||
Bausch Health Americas, Inc. 8.50%, 1/31/2027(a) |
6,285,000 | 6,360,546 | ||||||
Bausch Health Cos., Inc. 6.13%, 4/15/2025 (a) |
4,956,000 | 4,980,780 | ||||||
5.00%, 1/30/2028 (a) |
7,337,000 | 6,144,738 | ||||||
7.25%, 5/30/2029 (a) |
8,073,000 | 7,063,552 | ||||||
Catalent Pharma Solutions, Inc. 5.00%, 7/15/2027 (a) |
1,421,000 | 1,451,992 | ||||||
3.13%, 2/15/2029 (a) |
967,000 | 895,684 | ||||||
Elanco Animal Health, Inc. 6.40%, 8/28/2028 (e) |
1,100,000 | 1,188,330 | ||||||
Endo Dac 9.50%, 7/31/2027 (a) |
1,164,000 | 1,134,900 | ||||||
Endo Luxembourg Finance Co. I SARL 6.13%, 4/1/2029 (a) |
967,000 | 908,980 | ||||||
Jazz Securities DAC 4.38%, 1/15/2029 (a) |
1,800,000 | 1,782,828 | ||||||
Organon & Co. 4.13%, 4/30/2028 (a) |
2,500,000 | 2,459,025 | ||||||
5.13%, 4/30/2031 (a) |
2,500,000 | 2,495,675 | ||||||
Par Pharmaceutical, Inc. 7.50%, 4/1/2027 (a) |
4,523,000 | 4,530,440 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Pharmaceuticals — continued |
||||||||
Perrigo Finance Unlimited Co. 3.90%, 6/15/2030 (e) |
2,500,000 | 2,292,579 | ||||||
|
|
|||||||
43,690,049 | ||||||||
|
|
|||||||
Professional Services — 0.0% (d) |
| |||||||
Science Applications International Corp. 4.88%, 4/1/2028 (a) |
836,000 | 815,760 | ||||||
|
|
|||||||
Real Estate Management & Development — 0.3% |
| |||||||
Kennedy-Wilson, Inc. 4.75%, 3/1/2029 |
1,886,000 | 1,842,037 | ||||||
5.00%, 3/1/2031 |
472,000 | 457,994 | ||||||
Realogy Group LLC 5.75%, 1/15/2029 (a) |
2,000,000 | 1,977,500 | ||||||
|
|
|||||||
4,277,531 | ||||||||
|
|
|||||||
Road & Rail — 0.8% |
| |||||||
Avis Budget Car Rental LLC |
||||||||
5.75%, 7/15/2027 (a) |
1,900,000 | 1,915,238 | ||||||
5.38%, 3/1/2029 (a) |
674,000 | 663,034 | ||||||
First Student Bidco, Inc. 4.00%, 7/31/2029 (a) |
1,129,000 | 1,066,897 | ||||||
Hertz Corp. (The) 4.63%, 12/1/2026 (a) |
732,000 | 697,230 | ||||||
5.00%, 12/1/2029 (a) |
1,458,000 | 1,360,022 | ||||||
NESCO Holdings II, Inc. 5.50%, 4/15/2029 (a) |
1,622,000 | 1,559,148 | ||||||
Uber Technologies, Inc. 6.25%, 1/15/2028 (a) |
2,579,000 | 2,631,534 | ||||||
XPO Logistics, Inc. 6.25%, 5/1/2025 (a) |
1,693,000 | 1,755,844 | ||||||
|
|
|||||||
11,648,947 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment — 0.2% |
| |||||||
ams-OSRAM AG (Austria) 7.00%, 7/31/2025 (a) |
1,000,000 | 1,036,370 | ||||||
Entegris, Inc. 4.38%, 4/15/2028(a) |
851,000 | 833,980 | ||||||
3.63%, 5/1/2029 (a) |
462,000 | 433,125 | ||||||
ON Semiconductor Corp. 3.88%, 9/1/2028 (a) |
676,000 | 670,085 | ||||||
|
|
|||||||
2,973,560 | ||||||||
|
|
|||||||
Software — 1.5% |
| |||||||
CDK Global, Inc. 5.25%, 5/15/2029 (a) |
1,425,000 | 1,460,625 | ||||||
Clarivate Science Holdings Corp. |
||||||||
3.88%, 7/1/2028 (a) |
1,617,000 | 1,528,065 | ||||||
4.88%, 7/1/2029 (a) |
1,617,000 | 1,522,664 | ||||||
Fair Isaac Corp. |
||||||||
5.25%, 5/15/2026 (a) |
827,000 | 877,654 | ||||||
4.00%, 6/15/2028 (a) |
559,000 | 548,519 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 91 |
JPMorgan High Yield Research Enhanced ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Software — continued |
| |||||||
LogMeIn, Inc. 5.50%, 9/1/2027 (a) |
700,000 | 665,644 | ||||||
Minerva Merger Sub, Inc. 6.50%, 2/15/2030 (a) |
2,750,000 | 2,647,480 | ||||||
NCR Corp. |
||||||||
5.75%, 9/1/2027 (a) |
1,886,000 | 1,913,818 | ||||||
6.13%, 9/1/2029 (a) |
4,081,000 | 4,235,262 | ||||||
Open Text Corp. (Canada) 3.88%, 2/15/2028 (a) |
811,000 | 785,251 | ||||||
Open Text Holdings, Inc. (Canada) 4.13%, 2/15/2030 (a) |
811,000 | 776,532 | ||||||
PTC, Inc. 4.00%, 2/15/2028 (a) |
943,000 | 921,783 | ||||||
SS&C Technologies, Inc. 5.50%, 9/30/2027 (a) |
3,753,000 | 3,857,183 | ||||||
|
|
|||||||
21,740,480 | ||||||||
|
|
|||||||
Specialty Retail — 2.0% |
| |||||||
Asbury Automotive Group, Inc. |
||||||||
4.50%, 3/1/2028 |
1,405,000 | 1,380,876 | ||||||
4.63%, 11/15/2029 (a) |
1,923,000 | 1,874,925 | ||||||
Bath & Body Works, Inc. |
||||||||
7.50%, 6/15/2029 |
2,038,000 | 2,233,403 | ||||||
6.88%, 11/1/2035 |
4,826,000 | 5,333,840 | ||||||
Gap, Inc. (The) 3.63%, 10/1/2029 (a) |
2,392,000 | 2,165,956 | ||||||
Lithia Motors, Inc. |
||||||||
4.63%, 12/15/2027 (a) |
1,375,000 | 1,405,937 | ||||||
3.88%, 6/1/2029 (a) |
943,000 | 930,628 | ||||||
LSF9 Atlantis Holdings LLC 7.75%, 2/15/2026 (a) |
1,050,000 | 1,010,625 | ||||||
Michaels Cos., Inc. (The) 5.25%, 5/1/2028 (a) |
925,000 | 864,875 | ||||||
PetSmart, Inc. |
||||||||
4.75%, 2/15/2028 (a) |
2,000,000 | 1,995,000 | ||||||
7.75%, 2/15/2029 (a) |
1,700,000 | 1,787,125 | ||||||
SRS Distribution, Inc. |
||||||||
4.63%, 7/1/2028 (a) |
1,150,000 | 1,102,563 | ||||||
6.13%, 7/1/2029 (a) |
1,431,000 | 1,367,263 | ||||||
Staples, Inc. |
||||||||
7.50%, 4/15/2026 (a) |
3,157,000 | 3,121,326 | ||||||
10.75%, 4/15/2027 (a) |
1,697,000 | 1,580,535 | ||||||
White Cap Buyer LLC 6.88%, 10/15/2028 (a) |
1,390,000 | 1,383,050 | ||||||
|
|
|||||||
29,537,927 | ||||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Technology Hardware, Storage & Peripherals — 0.4% |
| |||||||
Diebold Nixdorf, Inc. 9.38%, 7/15/2025 (a) |
904,000 | 935,884 | ||||||
Seagate HDD Cayman |
||||||||
4.88%, 6/1/2027 |
2,246,000 | 2,307,765 | ||||||
4.13%, 1/15/2031 |
1,465,000 | 1,386,403 | ||||||
Xerox Corp. 6.75%, 12/15/2039 |
574,000 | 574,000 | ||||||
Xerox Holdings Corp. |
||||||||
5.00%, 8/15/2025 (a) |
574,000 | 583,261 | ||||||
5.50%, 8/15/2028 (a) |
574,000 | 572,565 | ||||||
|
|
|||||||
6,359,878 | ||||||||
|
|
|||||||
Textiles, Apparel & Luxury Goods — 0.2% |
| |||||||
G-III Apparel Group Ltd. 7.88%, 8/15/2025 (a) |
500,000 | 526,875 | ||||||
Hanesbrands, Inc. |
||||||||
4.63%, 5/15/2024 (a) |
559,000 | 566,686 | ||||||
4.88%, 5/15/2026(a) |
529,000 | 538,697 | ||||||
William Carter Co. (The) |
||||||||
5.63%, 3/15/2027(a) |
1,108,000 | 1,128,775 | ||||||
|
|
|||||||
2,761,033 | ||||||||
|
|
|||||||
Thrifts & Mortgage Finance — 1.8% |
| |||||||
Ladder Capital Finance Holdings LLLP |
||||||||
REIT, 4.25%, 2/1/2027(a) |
4,818,000 | 4,691,528 | ||||||
Nationstar Mortgage Holdings, Inc. 5.50%, 8/15/2028(a) |
7,044,000 | 7,026,390 | ||||||
PennyMac Financial Services, Inc. 5.75%, 9/15/2031(a) |
1,886,000 | 1,777,555 | ||||||
Radian Group, Inc. 4.88%, 3/15/2027 |
1,951,000 | 2,014,407 | ||||||
Rocket Mortgage LLC |
||||||||
2.88%, 10/15/2026 (a) |
4,010,000 | 3,767,475 | ||||||
3.88%, 3/1/2031 (a) |
2,945,000 | 2,757,256 | ||||||
4.00%, 10/15/2033 (a) |
4,010,000 | 3,732,308 | ||||||
|
|
|||||||
25,766,919 | ||||||||
|
|
|||||||
Tobacco — 0.1% |
| |||||||
Vector Group Ltd. 5.75%, 2/1/2029 (a) |
1,000,000 | 922,500 | ||||||
|
|
|||||||
Trading Companies & Distributors — 1.6% |
| |||||||
Beacon Roofing Supply, Inc. 4.50%, 11/15/2026 (a) |
790,000 | 792,196 | ||||||
H&E Equipment Services, Inc. 3.88%, 12/15/2028 (a) |
2,230,000 | 2,086,812 | ||||||
Herc Holdings, Inc. 5.50%, 7/15/2027 (a) |
1,898,000 | 1,945,450 | ||||||
Imola Merger Corp. 4.75%, 5/15/2029 (a) |
3,927,000 | 3,808,405 |
SEE NOTES TO FINANCIAL STATEMENTS.
92 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
||||||||
Trading Companies & Distributors — continued |
| |||||||
United Rentals North America, Inc. |
||||||||
4.88%, 1/15/2028 |
4,450,000 | 4,541,625 | ||||||
5.25%, 1/15/2030 |
4,600,000 | 4,784,000 | ||||||
WESCO Distribution, Inc. |
||||||||
7.13%, 6/15/2025 (a) |
2,171,000 | 2,273,602 | ||||||
7.25%, 6/15/2028 (a) |
3,291,000 | 3,533,415 | ||||||
|
|
|||||||
23,765,505 | ||||||||
|
|
|||||||
Wireless Telecommunication Services — 1.1% |
| |||||||
Connect Finco SARL (United Kingdom) 6.75%, 10/1/2026 (a) |
1,612,000 | 1,632,150 | ||||||
Hughes Satellite Systems Corp. 6.63%, 8/1/2026 |
1,331,000 | 1,386,290 | ||||||
Sprint Corp. 7.13%, 6/15/2024 |
975,000 | 1,054,228 | ||||||
T-Mobile USA, Inc. |
||||||||
2.88%, 2/15/2031 |
3,642,000 | 3,417,362 | ||||||
3.50%, 4/15/2031 |
1,886,000 | 1,856,512 | ||||||
United States Cellular Corp. 6.70%, 12/15/2033 |
500,000 | 545,000 | ||||||
Vmed O2 UK Financing I plc (United Kingdom) 4.25%, 1/31/2031 (a) |
2,000,000 | 1,840,000 | ||||||
Vodafone Group plc (United Kingdom) |
||||||||
(USD Swap Semi 5 Year + 4.87%), 7.00%, 4/4/2079 (c) |
2,890,000 | 3,207,900 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.07%), 5.12%, 6/4/2081 (c) |
738,000 | 658,665 | ||||||
|
|
|||||||
15,598,107 | ||||||||
|
|
|||||||
Total
Corporate Bonds |
|
1,401,551,089 | ||||||
|
|
|||||||
SHARES |
||||||||
Short-term Investments — 1.4% |
| |||||||
Investment Companies — 1.4% |
| |||||||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 0.03%(f)(g)(Cost $20,697,667) |
20,697,667 | 20,697,667 | ||||||
|
|
|||||||
Total
Investments — 97.8% |
|
1,422,248,756 | ||||||
Other Assets Less Liabilities — 2.2% |
|
31,310,008 | ||||||
|
|
|||||||
NET ASSETS — 100.0% |
|
1,453,558,764 | ||||||
|
|
Percentages indicated are based on net assets.
Abbreviations
OYJ |
Public Limited Company | |
REIT |
Real Estate Investment Trust | |
SCA |
Limited partnership with share capital | |
SOFR |
Secured Overnight Financing Rate | |
USD |
United States Dollar | |
(a) |
Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. | |
(b) |
Security has the ability to pay in kind (“PIK”) or pay income in cash. When applicable, separate rates of such payments are disclosed. | |
(c) |
Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of February 28, 2022. | |
(d) |
Amount rounds to less than 0.1% of net assets. | |
(e) |
Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future contingent upon a predetermined trigger. The interest rate shown is the current rate as of February 28, 2022. | |
(f) |
Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(g) |
The rate shown is the current yield as of February 28, 2022. |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 93 |
JPMorgan Income ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — 37.0% |
| |||||||
Aerospace & Defense — 0.2% |
| |||||||
Boeing Co. (The) 3.20%, 3/1/2029 |
200,000 | 197,727 | ||||||
BWX Technologies, Inc. 4.13%, 6/30/2028 (a) |
80,000 | 77,600 | ||||||
|
|
|||||||
275,327 | ||||||||
|
|
|||||||
Airlines — 0.1% |
| |||||||
American Airlines, Inc. 5.50%, 4/20/2026 (a) |
160,000 | 163,766 | ||||||
|
|
|||||||
Auto Components — 0.9% |
| |||||||
Allison Transmission, Inc. 5.88%, 6/1/2029 (a) |
315,000 | 330,388 | ||||||
American Axle & Manufacturing, Inc. |
||||||||
6.50%, 4/1/2027 |
255,000 | 260,738 | ||||||
5.00%, 10/1/2029 |
50,000 | 47,415 | ||||||
Clarios Global LP |
||||||||
6.75%, 5/15/2025 (a) |
25,000 | 25,943 | ||||||
6.25%, 5/15/2026 (a) |
205,000 | 212,060 | ||||||
8.50%, 5/15/2027 (a) |
20,000 | 20,850 | ||||||
Dornoch Debt Merger Sub, Inc. 6.63%, 10/15/2029 (a) |
80,000 | 74,200 | ||||||
Goodyear Tire & Rubber Co. (The) |
||||||||
5.00%, 7/15/2029 (a) |
280,000 | 276,080 | ||||||
5.25%, 7/15/2031 (a) |
50,000 | 48,562 | ||||||
|
|
|||||||
1,296,236 | ||||||||
|
|
|||||||
Automobiles — 0.1% |
| |||||||
General Motors Co. 5.00%, 4/1/2035 |
85,000 | 91,946 | ||||||
|
|
|||||||
Banks — 2.8% |
| |||||||
Banco Santander SA (Spain) (USD ICE Swap Rate 5 Year + 4.99%), 7.50%, 2/8/2024 (b) (c) (d) (e) |
200,000 | 208,000 | ||||||
Bank of America Corp. |
||||||||
Series DD, (ICE LIBOR USD 3 Month + 4.55%), 6.30%, 3/10/2026 (b) (c) (e) |
85,000 | 91,492 | ||||||
(ICE LIBOR USD 3 Month + 1.06%), 3.56%, 4/23/2027 (c) |
225,000 | 230,970 | ||||||
(SOFR + 1.32%), 2.69%, 4/22/2032 (c) |
115,000 | 110,602 | ||||||
Citigroup, Inc. |
||||||||
Series U, (SOFR + 3.81%), 5.00%, 9/12/2024 (b) (c) (e) |
95,000 | 96,092 | ||||||
Series W, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.60%), 4.00%, 12/10/2025 (b) (c) (e) |
145,000 | 140,085 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Banks — continued |
| |||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.42%), 3.88%, 2/18/2026 (b) (c) (e) |
100,000 | 95,250 | ||||||
(SOFR + 0.77%), 1.46%, 6/9/2027 (c) |
225,000 | 212,739 | ||||||
Credit Agricole SA (France) (USD Swap Semi 5 Year + 6.19%), 8.12%, 12/23/2025 (a) (b) (c) (e) |
250,000 | 281,563 | ||||||
HSBC Holdings plc (United Kingdom) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.65%), 4.60%, 12/17/2030 (b) (c) (e) |
200,000 | 186,000 | ||||||
ING Groep NV (Netherlands) (USD ICE Swap Rate 5 Year + 4.20%), 6.75%, 4/16/2024 (b) (c) (d) (e) |
200,000 | 208,500 | ||||||
Intesa Sanpaolo SpA (Italy) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.60%), 4.20%, 6/1/2032 (a) (c) |
200,000 | 180,915 | ||||||
Lloyds Banking Group plc (United Kingdom) (USD Swap Semi 5 Year + 4.50%), 7.50%, 9/27/2025 (b) (c) (e) |
200,000 | 219,482 | ||||||
National Australia Bank Ltd. (Australia) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.88%), 3.93%, 8/2/2034 (a) (c) |
250,000 | 253,104 | ||||||
NatWest Group plc (United Kingdom) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.63%), 6.00%, 12/29/2025 (b) (c) (e) |
200,000 | 206,500 | ||||||
Nordea Bank Abp (Finland) (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.11%), 6.63%, 3/26/2026 (a) (b) (c) (e) |
200,000 | 214,500 | ||||||
Societe Generale SA (France) |
||||||||
(USD ICE Swap Rate 5 Year + 5.87%), 8.00%, 9/29/2025 (a) (b) (c) (e) |
200,000 | 217,402 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.93%), 4.75%, 5/26/2026 (a) (b) (c) (e) |
200,000 | 185,500 | ||||||
Truist Financial Corp. Series Q, (US Treasury Yield Curve Rate T Note Constant Maturity 10 Year + 4.35%), 5.10%, 3/1/2030 (b) (c) (e) |
100,000 | 103,750 | ||||||
UniCredit SpA (Italy) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.20%), 1.98%, 6/3/2027 (a) (c) |
200,000 | 186,546 |
SEE NOTES TO FINANCIAL STATEMENTS.
94 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Banks — continued |
| |||||||
Wells Fargo & Co. Series BB, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.45%), 3.90%, 3/15/2026 (b) (c) (e) |
250,000 | 240,625 | ||||||
|
|
|||||||
3,869,617 | ||||||||
|
|
|||||||
Biotechnology — 0.1% |
| |||||||
AbbVie, Inc. 4.50%, 5/14/2035 |
80,000 | 88,901 | ||||||
|
|
|||||||
Building Products — 0.3% |
| |||||||
JELD-WEN, Inc. 4.88%, 12/15/2027 (a) |
50,000 | 48,625 | ||||||
MIWD Holdco II LLC 5.50%, 2/1/2030 (a) |
30,000 | 28,604 | ||||||
Standard Industries, Inc. 4.75%, 1/15/2028 (a) |
305,000 | 299,281 | ||||||
|
|
|||||||
376,510 | ||||||||
|
|
|||||||
Capital Markets — 0.9% |
| |||||||
Charles Schwab Corp. (The) Series I, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.17%), 4.00%, 6/1/2026 (b) (c) (e) |
200,000 | 193,530 | ||||||
Credit Suisse Group AG (Switzerland) (USD Swap Semi 5 Year + 3.46%), 6.25%, 12/18/2024 (a) (b) (c) (e) |
200,000 | 204,750 | ||||||
Goldman Sachs Group, Inc. (The) |
||||||||
Series R, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.22%), 4.95%, 2/10/2025 (b) (c) (e) |
95,000 | 95,532 | ||||||
Series U, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.92%), 3.65%, 8/10/2026 (b) (c) (e) |
100,000 | 92,250 | ||||||
(SOFR + 0.91%), 1.95%, 10/21/2027 (c) |
225,000 | 215,584 | ||||||
Morgan Stanley (SOFR + 0.86%), 1.51%, 7/20/2027 (c) |
225,000 | 213,155 | ||||||
UBS Group AG (Switzerland) (USD Swap Semi 5 Year + 4.59%), 6.87%, 8/7/2025 (b) (c) (d) (e) |
200,000 | 210,500 | ||||||
|
|
|||||||
1,225,301 | ||||||||
|
|
|||||||
Chemicals — 1.3% |
| |||||||
Axalta Coating Systems LLC 4.75%, 6/15/2027 (a) |
200,000 | 200,500 | ||||||
Braskem Idesa SAPI (Mexico) 6.99%, 2/20/2032 (a) |
200,000 | 191,000 | ||||||
Chemours Co. (The) |
||||||||
5.75%, 11/15/2028 (a) |
205,000 | 201,509 | ||||||
4.63%, 11/15/2029 (a) |
50,000 | 46,312 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Chemicals — continued |
| |||||||
Element Solutions, Inc. 3.88%, 9/1/2028 (a) |
120,000 | 113,813 | ||||||
Hexion, Inc. 7.88%, 7/15/2027 (a) |
90,000 | 94,770 | ||||||
NOVA Chemicals Corp. (Canada) 5.25%, 6/1/2027 (a) |
320,000 | 320,800 | ||||||
Scotts Miracle-Gro Co. (The) 4.50%, 10/15/2029 |
245,000 | 236,425 | ||||||
Trinseo Materials Operating SCA 5.13%, 4/1/2029 (a) |
220,000 | 208,450 | ||||||
WR Grace Holdings LLC |
||||||||
4.88%, 6/15/2027 (a) |
95,000 | 94,907 | ||||||
5.63%, 8/15/2029 (a) |
140,000 | 134,050 | ||||||
|
|
|||||||
1,842,536 | ||||||||
|
|
|||||||
Commercial Services & Supplies — 1.1% |
| |||||||
ACCO Brands Corp. 4.25%, 3/15/2029 (a) |
260,000 | 242,450 | ||||||
ADT Security Corp. (The) |
||||||||
4.13%, 8/1/2029 (a) |
50,000 | 47,143 | ||||||
4.88%, 7/15/2032 (a) |
180,000 | 167,850 | ||||||
Allied Universal Holdco LLC 6.63%, 7/15/2026 (a) |
165,000 | 169,010 | ||||||
Aramark Services, Inc. 5.00%, 2/1/2028 (a) |
90,000 | 90,161 | ||||||
Atento Luxco 1 SA (Brazil) 8.00%, 2/10/2026 (d) |
100,000 | 101,581 | ||||||
GFL Environmental, Inc. (Canada) 3.75%, 8/1/2025 (a) |
160,000 | 158,400 | ||||||
Madison IAQ LLC 4.13%, 6/30/2028 (a) |
235,000 | 222,306 | ||||||
Nielsen Finance LLC 5.63%, 10/1/2028 (a) |
160,000 | 154,617 | ||||||
Prime Security Services Borrower LLC 3.38%, 8/31/2027 (a) |
175,000 | 161,865 | ||||||
Stericycle, Inc. 3.88%, 1/15/2029 (a) |
60,000 | 55,875 | ||||||
|
|
|||||||
1,571,258 | ||||||||
|
|
|||||||
Communications Equipment — 0.3% |
| |||||||
CommScope, Inc. |
||||||||
6.00%, 3/1/2026 (a) |
285,000 | 291,703 | ||||||
8.25%, 3/1/2027 (a) |
135,000 | 134,328 | ||||||
|
|
|||||||
426,031 | ||||||||
|
|
|||||||
Construction & Engineering — 0.1% |
| |||||||
Dycom Industries, Inc. 4.50%, 4/15/2029 (a) |
50,000 | 48,125 | ||||||
MasTec, Inc. 4.50%, 8/15/2028 (a) |
75,000 | 76,040 | ||||||
|
|
|||||||
124,165 | ||||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 95 |
JPMorgan Income ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Consumer Finance — 1.2% |
| |||||||
AerCap Ireland Capital DAC (Ireland) 3.85%, 10/29/2041 |
150,000 | 139,009 | ||||||
Avolon Holdings Funding Ltd. (Ireland) 3.63%, 5/1/2022 (a) |
100,000 | 100,178 | ||||||
Ford Motor Credit Co. LLC |
||||||||
3.66%, 9/8/2024 |
200,000 | 200,210 | ||||||
3.38%, 11/13/2025 |
275,000 | 270,875 | ||||||
4.13%, 8/17/2027 |
665,000 | 669,821 | ||||||
OneMain Finance Corp. 6.63%, 1/15/2028 |
150,000 | 160,261 | ||||||
Park Aerospace Holdings Ltd. (Ireland) 4.50%, 3/15/2023 (a) |
100,000 | 102,080 | ||||||
|
|
|||||||
1,642,434 | ||||||||
|
|
|||||||
Containers & Packaging — 1.0% |
| |||||||
Ardagh Packaging Finance plc 5.25%, 8/15/2027 (a) |
200,000 | 190,113 | ||||||
LABL, Inc. 6.75%, 7/15/2026 (a) |
165,000 | 165,412 | ||||||
Mauser Packaging Solutions Holding Co. 5.50%, 4/15/2024 (a) |
255,000 | 253,725 | ||||||
Pactiv Evergreen Group Issuer, Inc. 4.00%, 10/15/2027 (a) |
320,000 | 296,744 | ||||||
TriMas Corp. 4.13%, 4/15/2029 (a) |
25,000 | 23,528 | ||||||
Trivium Packaging Finance BV (Netherlands) |
||||||||
5.50%, 8/15/2026 (a) (f) |
200,000 | 201,858 | ||||||
8.50%, 8/15/2027 (a) (f) |
250,000 | 256,420 | ||||||
|
|
|||||||
1,387,800 | ||||||||
|
|
|||||||
Distributors — 0.0% (g) |
| |||||||
Ritchie Bros Holdings, Inc. (Canada) 4.75%, 12/15/2031 (a) |
60,000 | 59,615 | ||||||
|
|
|||||||
Diversified Consumer Services — 0.1% |
| |||||||
Service Corp. International 5.13%, 6/1/2029 |
155,000 | 158,875 | ||||||
|
|
|||||||
Diversified Telecommunication Services — 2.9% |
| |||||||
Altice France Holding SA (Luxembourg) 10.50%, 5/15/2027 (a) |
200,000 | 209,400 | ||||||
Altice France SA (France) 5.13%, 7/15/2029 (a) |
250,000 | 226,250 | ||||||
AT&T, Inc. |
||||||||
4.30%, 2/15/2030 |
125,000 | 136,082 | ||||||
3.50%, 9/15/2053 |
50,000 | 45,720 | ||||||
CCO Holdings LLC |
||||||||
5.00%, 2/1/2028 (a) |
630,000 | 633,840 | ||||||
5.38%, 6/1/2029 (a) |
390,000 | 396,096 | ||||||
4.75%, 3/1/2030 (a) |
465,000 | 456,623 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Diversified Telecommunication Services — continued |
| |||||||
4.25%, 2/1/2031 (a) |
100,000 | 93,694 | ||||||
4.75%, 2/1/2032 (a) |
20,000 | 19,450 | ||||||
Frontier Communications Holdings LLC 5.88%, 10/15/2027 (a) |
245,000 | 248,464 | ||||||
Level 3 Financing, Inc. 4.63%, 9/15/2027 (a) |
335,000 | 323,275 | ||||||
Lumen Technologies, Inc. 4.00%, 2/15/2027 (a) |
420,000 | 399,659 | ||||||
Sprint Capital Corp. |
||||||||
6.88%, 11/15/2028 |
125,000 | 148,434 | ||||||
8.75%, 3/15/2032 |
285,000 | 395,437 | ||||||
Switch Ltd. 4.13%, 6/15/2029 (a) |
50,000 | 47,938 | ||||||
Telecom Italia Capital SA (Italy) 6.38%, 11/15/2033 |
60,000 | 58,500 | ||||||
Zayo Group Holdings, Inc. 4.00%, 3/1/2027 (a) |
115,000 | 109,331 | ||||||
|
|
|||||||
3,948,193 | ||||||||
|
|
|||||||
Electric Utilities — 1.1% |
| |||||||
Duquesne Light Holdings, Inc. 2.78%, 1/7/2032 (a) |
115,000 | 108,253 | ||||||
Electricidad Firme de Mexico Holdings SA de CV (Mexico) 4.90%, 11/20/2026 (a) |
200,000 | 193,125 | ||||||
Energuate Trust (Guatemala) 5.88%, 5/3/2027 (d) |
200,000 | 198,225 | ||||||
Eskom Holdings SOC Ltd. (South Africa) 7.13%, 2/11/2025 (d) |
200,000 | 195,787 | ||||||
Instituto Costarricense de Electricidad (Costa Rica) 6.75%, 10/7/2031 (a) |
200,000 | 199,413 | ||||||
NRG Energy, Inc. |
||||||||
5.75%, 1/15/2028 |
130,000 | 132,922 | ||||||
3.38%, 2/15/2029 (a) |
265,000 | 246,106 | ||||||
Vistra Operations Co. LLC 5.00%, 7/31/2027 (a) |
245,000 | 246,819 | ||||||
|
|
|||||||
1,520,650 | ||||||||
|
|
|||||||
Electronic Equipment, Instruments & Components — 0.3% |
| |||||||
II-VI, Inc. 5.00%, 12/15/2029 (a) |
60,000 | 59,935 | ||||||
Sensata Technologies, Inc. 3.75%, 2/15/2031 (a) |
350,000 | 325,500 | ||||||
|
|
|||||||
385,435 | ||||||||
|
|
|||||||
Energy Equipment & Services — 0.1% |
| |||||||
Guara Norte Sarl (Brazil) 5.20%, 6/15/2034 (d) |
191,908 | 175,236 | ||||||
Transocean Guardian Ltd. 5.88%, 1/15/2024 (a) |
42,448 | 40,610 | ||||||
|
|
|||||||
215,846 | ||||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
96 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Entertainment — 0.8% |
| |||||||
Live Nation Entertainment, Inc. |
||||||||
6.50%, 5/15/2027 (a) |
190,000 | 203,426 | ||||||
4.75%, 10/15/2027 (a) |
320,000 | 314,406 | ||||||
Netflix, Inc. 5.88%, 11/15/2028 |
280,000 | 316,582 | ||||||
WMG Acquisition Corp. 3.88%, 7/15/2030 (a) |
220,000 | 211,200 | ||||||
|
|
|||||||
1,045,614 | ||||||||
|
|
|||||||
Equity Real Estate Investment Trusts (REITs) — 0.8% |
| |||||||
American Tower Corp. 3.80%, 8/15/2029 |
100,000 | 103,253 | ||||||
Iron Mountain, Inc. |
||||||||
4.88%, 9/15/2027 (a) |
70,000 | 70,085 | ||||||
5.25%, 7/15/2030 (a) |
105,000 | 104,185 | ||||||
RHP Hotel Properties LP 4.75%, 10/15/2027 |
290,000 | 283,475 | ||||||
SBA Communications Corp. 3.88%, 2/15/2027 |
165,000 | 164,715 | ||||||
VICI Properties LP 4.25%, 12/1/2026 (a) |
325,000 | 328,250 | ||||||
|
|
|||||||
1,053,963 | ||||||||
|
|
|||||||
Food & Staples Retailing — 0.8% |
| |||||||
Albertsons Cos., Inc. |
||||||||
4.63%, 1/15/2027 (a) |
415,000 | 416,821 | ||||||
3.50%, 3/15/2029 (a) |
50,000 | 46,500 | ||||||
Performance Food Group, Inc. |
||||||||
5.50%, 10/15/2027 (a) |
175,000 | 178,062 | ||||||
4.25%, 8/1/2029 (a) |
50,000 | 47,700 | ||||||
Rite Aid Corp. 8.00%, 11/15/2026 (a) |
280,000 | 266,542 | ||||||
US Foods, Inc. |
||||||||
4.75%, 2/15/2029 (a) |
69,000 | 68,255 | ||||||
4.63%, 6/1/2030 (a) |
41,000 | 39,867 | ||||||
|
|
|||||||
1,063,747 | ||||||||
|
|
|||||||
Food Products — 0.5% |
| |||||||
Lamb Weston Holdings, Inc. 4.13%, 1/31/2030 (a) |
255,000 | 246,713 | ||||||
Post Holdings, Inc. 5.50%, 12/15/2029 (a) |
320,000 | 322,683 | ||||||
Sigma Holdco BV (Netherlands) 7.88%, 5/15/2026 (a) |
200,000 | 176,000 | ||||||
|
|
|||||||
745,396 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies — 0.6% |
| |||||||
Avantor Funding, Inc. 4.63%, 7/15/2028 (a) |
250,000 | 253,750 | ||||||
Hologic, Inc. 3.25%, 2/15/2029 (a) |
230,000 | 217,925 | ||||||
Mozart Debt Merger Sub, Inc. |
||||||||
3.88%, 4/1/2029 (a) |
355,000 | 336,836 | ||||||
5.25%, 10/1/2029 (a) |
50,000 | 47,750 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Health Care Equipment & Supplies — continued |
| |||||||
Teleflex, Inc. 4.25%, 6/1/2028 (a) |
25,000 | 24,688 | ||||||
|
|
|||||||
880,949 | ||||||||
|
|
|||||||
Health Care Providers & Services — 2.4% |
| |||||||
Acadia Healthcare Co., Inc. 5.00%, 4/15/2029 (a) |
35,000 | 34,563 | ||||||
Centene Corp. 4.63%, 12/15/2029 |
450,000 | 463,500 | ||||||
Community Health Systems, Inc. |
||||||||
8.00%, 3/15/2026 (a) |
271,000 | 281,163 | ||||||
5.63%, 3/15/2027 (a) |
25,000 | 25,205 | ||||||
6.00%, 1/15/2029 (a) |
50,000 | 50,062 | ||||||
5.25%, 5/15/2030 (a) |
39,000 | 37,776 | ||||||
DaVita, Inc. 3.75%, 2/15/2031 (a) |
330,000 | 301,537 | ||||||
Encompass Health Corp. 4.50%, 2/1/2028 |
230,000 | 223,911 | ||||||
HCA, Inc. |
||||||||
5.88%, 2/15/2026 |
435,000 | 470,127 | ||||||
5.88%, 2/1/2029 |
295,000 | 329,662 | ||||||
4.13%, 6/15/2029 |
140,000 | 146,729 | ||||||
Owens & Minor, Inc. 4.50%, 3/31/2029 (a) |
90,000 | 84,864 | ||||||
Tenet Healthcare Corp. |
||||||||
5.13%, 11/1/2027 (a) |
535,000 | 545,325 | ||||||
4.63%, 6/15/2028 (a) |
335,000 | 328,300 | ||||||
|
|
|||||||
3,322,724 | ||||||||
|
|
|||||||
Health Care Technology — 0.1% |
| |||||||
IQVIA, Inc. 5.00%, 5/15/2027 (a) |
200,000 | 204,586 | ||||||
|
|
|||||||
Hotels, Restaurants & Leisure — 1.4% |
| |||||||
1011778 BC ULC (Canada) |
||||||||
3.88%, 1/15/2028 (a) |
180,000 | 175,050 | ||||||
3.50%, 2/15/2029 (a) |
50,000 | 47,125 | ||||||
Boyne USA, Inc. 4.75%, 5/15/2029 (a) |
55,000 | 54,037 | ||||||
Caesars Entertainment, Inc. |
||||||||
6.25%, 7/1/2025 (a) |
30,000 | 31,107 | ||||||
8.13%, 7/1/2027 (a) |
85,000 | 91,628 | ||||||
Carnival Corp. |
||||||||
9.88%, 8/1/2027 (a) |
60,000 | 67,350 | ||||||
6.00%, 5/1/2029 (a) |
95,000 | 92,239 | ||||||
Cedar Fair LP |
||||||||
5.38%, 4/15/2027 |
170,000 | 171,275 | ||||||
5.25%, 7/15/2029 |
25,000 | 24,970 | ||||||
Hilton Domestic Operating Co., Inc. 4.88%, 1/15/2030 |
50,000 | 51,437 | ||||||
Hilton Worldwide Finance LLC 4.88%, 4/1/2027 |
260,000 | 265,525 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 97 |
JPMorgan Income ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Hotels, Restaurants & Leisure — continued |
| |||||||
MGM Resorts International 4.63%, 9/1/2026 |
80,000 | 79,800 | ||||||
Six Flags Entertainment Corp. 4.88%, 7/31/2024 (a) |
250,000 | 249,803 | ||||||
Station Casinos LLC 4.50%, 2/15/2028 (a) |
35,000 | 33,644 | ||||||
Wynn Resorts Finance LLC |
||||||||
7.75%, 4/15/2025 (a) |
50,000 | 52,195 | ||||||
5.13%, 10/1/2029 (a) |
260,000 | 250,250 | ||||||
Yum! Brands, Inc. 4.75%, 1/15/2030 (a) |
155,000 | 157,325 | ||||||
|
|
|||||||
1,894,760 | ||||||||
|
|
|||||||
Household Durables — 0.3% |
| |||||||
CD&R Smokey Buyer, Inc. 6.75%, 7/15/2025 (a) |
85,000 | 87,762 | ||||||
Newell Brands, Inc. 4.70%, 4/1/2026 (f) |
160,000 | 165,630 | ||||||
Tempur Sealy International, Inc. 4.00%, 4/15/2029 (a) |
180,000 | 169,636 | ||||||
|
|
|||||||
423,028 | ||||||||
|
|
|||||||
Household Products — 0.6% |
| |||||||
Central Garden & Pet Co. 5.13%, 2/1/2028 |
160,000 | 163,000 | ||||||
Energizer Holdings, Inc. |
||||||||
4.75%, 6/15/2028 (a) |
75,000 | 70,875 | ||||||
4.38%, 3/31/2029 (a) |
285,000 | 256,856 | ||||||
Spectrum Brands, Inc. |
||||||||
5.00%, 10/1/2029 (a) |
250,000 | 246,875 | ||||||
3.88%, 3/15/2031 (a) |
50,000 | 45,802 | ||||||
|
|
|||||||
783,408 | ||||||||
|
|
|||||||
Independent Power and Renewable Electricity Producers — 0.3% |
| |||||||
Calpine Corp. |
||||||||
4.50%, 2/15/2028 (a) |
180,000 | 175,658 | ||||||
4.63%, 2/1/2029 (a) |
50,000 | 46,375 | ||||||
Termocandelaria Power Ltd. (Colombia) 7.88%, 1/30/2029 (d) |
170,000 | 163,200 | ||||||
|
|
|||||||
385,233 | ||||||||
|
|
|||||||
Internet & Direct Marketing Retail — 0.1% |
| |||||||
Photo Holdings Merger Sub, Inc. 8.50%, 10/1/2026 (a) |
80,000 | 79,440 | ||||||
|
|
|||||||
IT Services — 0.3% |
| |||||||
Block, Inc. 3.50%, 6/1/2031 (a) |
120,000 | 112,685 | ||||||
Gartner, Inc. 4.50%, 7/1/2028 (a) |
240,000 | 243,127 | ||||||
|
|
|||||||
355,812 | ||||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Leisure Products — 0.2% |
| |||||||
Mattel, Inc. 5.88%, 12/15/2027 (a) |
155,000 | 164,300 | ||||||
Vista Outdoor, Inc. 4.50%, 3/15/2029 (a) |
140,000 | 131,250 | ||||||
|
|
|||||||
295,550 | ||||||||
|
|
|||||||
Machinery — 0.0% (g) |
| |||||||
Roller Bearing Co. of America, Inc. 4.38%, 10/15/2029 (a) |
20,000 | 19,300 | ||||||
|
|
|||||||
Media — 3.2% |
| |||||||
Charter Communications Operating LLC 5.38%, 4/1/2038 |
100,000 | 104,598 | ||||||
Clear Channel Outdoor Holdings, Inc. |
||||||||
5.13%, 8/15/2027 (a) |
410,000 | 409,631 | ||||||
7.50%, 6/1/2029 (a) |
70,000 | 72,741 | ||||||
CSC Holdings LLC 6.50%, 2/1/2029 (a) |
260,000 | 263,250 | ||||||
Directv Financing LLC 5.88%, 8/15/2027 (a) |
235,000 | 234,920 | ||||||
Discovery Communications LLC 4.95%, 5/15/2042 |
60,000 | 61,024 | ||||||
DISH DBS Corp. |
||||||||
5.88%, 11/15/2024 |
816,000 | 816,000 | ||||||
7.75%, 7/1/2026 |
125,000 | 126,586 | ||||||
5.25%, 12/1/2026 (a) |
119,000 | 116,657 | ||||||
Gray Escrow II, Inc. 5.38%, 11/15/2031 (a) |
33,000 | 31,768 | ||||||
Gray Television, Inc. |
||||||||
7.00%, 5/15/2027 (a) |
20,000 | 21,035 | ||||||
4.75%, 10/15/2030 (a) |
182,000 | 170,663 | ||||||
iHeartCommunications, Inc. |
||||||||
5.25%, 8/15/2027 (a) |
350,000 | 348,616 | ||||||
4.75%, 1/15/2028 (a) |
50,000 | 48,375 | ||||||
Midcontinent Communications 5.38%, 8/15/2027 (a) |
40,000 | 39,550 | ||||||
News Corp. 3.88%, 5/15/2029 (a) |
125,000 | 119,688 | ||||||
Nexstar Media, Inc. |
||||||||
5.63%, 7/15/2027 (a) |
25,000 | 25,562 | ||||||
4.75%, 11/1/2028 (a) |
400,000 | 388,000 | ||||||
Paramount Global (ICE LIBOR USD 3 Month + 3.90%), 6.25%, 2/28/2057 (c) |
100,000 | 101,100 | ||||||
Sirius XM Radio, Inc. |
||||||||
5.00%, 8/1/2027 (a) |
200,000 | 202,707 | ||||||
4.00%, 7/15/2028 (a) |
385,000 | 370,081 | ||||||
4.13%, 7/1/2030 (a) |
50,000 | 47,261 | ||||||
Univision Communications, Inc. |
||||||||
6.63%, 6/1/2027 (a) |
50,000 | 52,000 | ||||||
4.50%, 5/1/2029 (a) |
130,000 | 124,434 |
SEE NOTES TO FINANCIAL STATEMENTS.
98 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Media — continued |
| |||||||
Videotron Ltd. (Canada) 5.13%, 4/15/2027 (a) |
165,000 | 167,888 | ||||||
|
|
|||||||
4,464,135 | ||||||||
|
|
|||||||
Metals & Mining — 0.7% |
| |||||||
Arconic Corp. 6.13%, 2/15/2028 (a) |
165,000 | 168,712 | ||||||
Big River Steel LLC 6.63%, 1/31/2029 (a) |
35,000 | 36,575 | ||||||
Cleveland-Cliffs, Inc. 4.63%, 3/1/2029 (a) |
225,000 | 217,125 | ||||||
Freeport-McMoRan, Inc. 4.38%, 8/1/2028 |
160,000 | 162,000 | ||||||
Glencore Funding LLC (Australia) 2.50%, 9/1/2030 (a) |
100,000 | 92,011 | ||||||
Kaiser Aluminum Corp. 4.63%, 3/1/2028 (a) |
60,000 | 56,656 | ||||||
Novelis Corp. |
||||||||
4.75%, 1/30/2030 (a) |
134,000 | 131,122 | ||||||
3.88%, 8/15/2031 (a) |
66,000 | 60,802 | ||||||
|
|
|||||||
925,003 | ||||||||
|
|
|||||||
Multiline Retail — 0.1% |
| |||||||
NMG Holding Co., Inc. 7.13%, 4/1/2026 (a) |
125,000 | 128,750 | ||||||
|
|
|||||||
Oil, Gas & Consumable Fuels — 3.7% |
| |||||||
Antero Midstream Partners LP |
||||||||
5.75%, 1/15/2028 (a) |
175,000 | 177,625 | ||||||
5.38%, 6/15/2029 (a) |
50,000 | 50,250 | ||||||
Antero Resources Corp. 7.63%, 2/1/2029 (a) |
50,000 | 54,127 | ||||||
BP Capital Markets plc (United Kingdom) |
||||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.04%), 4.38%, 6/22/2025 (b) (c) (e) |
140,000 | 140,000 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.40%), 4.88%, 3/22/2030 (b) (c) (e) |
75,000 | 74,332 | ||||||
Buckeye Partners LP 3.95%, 12/1/2026 |
170,000 | 164,050 | ||||||
Cheniere Energy Partners LP 4.50%, 10/1/2029 |
130,000 | 132,496 | ||||||
Cheniere Energy, Inc. 4.63%, 10/15/2028 |
80,000 | 81,733 | ||||||
Chesapeake Energy Corp. 6.75%, 4/15/2029 (a) |
160,000 | 169,152 | ||||||
Comstock Resources, Inc. 6.75%, 3/1/2029 (a) |
160,000 | 162,808 | ||||||
Crestwood Midstream Partners LP |
||||||||
5.75%, 4/1/2025 |
65,000 | 65,406 | ||||||
5.63%, 5/1/2027 (a) |
25,000 | 24,813 | ||||||
8.00%, 4/1/2029 (a) |
75,000 | 79,798 | ||||||
DT Midstream, Inc. 4.13%, 6/15/2029 (a) |
170,000 | 164,050 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Oil, Gas & Consumable Fuels — continued |
| |||||||
Energean Israel Finance Ltd. (Israel) 5.38%, 3/30/2028 (d) |
50,000 | 46,797 | ||||||
Energy Transfer LP 5.35%, 5/15/2045 |
60,000 | 63,419 | ||||||
EnLink Midstream Partners LP 4.40%, 4/1/2024 |
60,000 | 61,110 | ||||||
EQM Midstream Partners LP |
||||||||
6.00%, 7/1/2025 (a) |
165,000 | 168,300 | ||||||
4.50%, 1/15/2029 (a) |
50,000 | 46,688 | ||||||
EQT Corp. 3.90%, 10/1/2027 |
60,000 | 60,642 | ||||||
Gulfport Energy Corp. 8.00%, 5/17/2026 (a) |
90,000 | 95,175 | ||||||
Hess Midstream Operations LP 5.63%, 2/15/2026 (a) |
165,000 | 169,125 | ||||||
Leviathan Bond Ltd. (Israel) 6.75%, 6/30/2030 (d) |
50,000 | 50,125 | ||||||
Medco Bell Pte. Ltd. (Indonesia) 6.38%, 1/30/2027 (d) |
200,000 | 193,200 | ||||||
MEG Energy Corp. (Canada) 7.13%, 2/1/2027 (a) |
65,000 | 67,805 | ||||||
MPLX LP 4.50%, 4/15/2038 |
90,000 | 92,615 | ||||||
NuStar Logistics LP 5.63%, 4/28/2027 |
190,000 | 190,170 | ||||||
Occidental Petroleum Corp. |
||||||||
8.50%, 7/15/2027 |
50,000 | 60,250 | ||||||
8.88%, 7/15/2030 |
195,000 | 252,135 | ||||||
Peru LNG Srl (Peru) 5.38%, 3/22/2030 (d) |
200,000 | 172,600 | ||||||
Petrobras Global Finance BV (Brazil) 5.50%, 6/10/2051 |
100,000 | 84,897 | ||||||
Petroleos Mexicanos (Mexico) |
||||||||
6.88%, 8/4/2026 |
50,000 | 52,772 | ||||||
5.35%, 2/12/2028 |
100,000 | 96,060 | ||||||
7.69%, 1/23/2050 |
350,000 | 313,250 | ||||||
Range Resources Corp. |
||||||||
8.25%, 1/15/2029 |
65,000 | 71,228 | ||||||
4.75%, 2/15/2030 (a) |
20,000 | 19,575 | ||||||
SM Energy Co. 10.00%, 1/15/2025 (a) |
55,000 | 60,301 | ||||||
Southwestern Energy Co. 8.38%, 9/15/2028 |
140,000 | 152,775 | ||||||
Sunoco LP 4.50%, 5/15/2029 |
40,000 | 38,332 | ||||||
Tallgrass Energy Partners LP |
||||||||
7.50%, 10/1/2025 (a) |
170,000 | 178,500 | ||||||
5.50%, 1/15/2028 (a) |
50,000 | 48,188 | ||||||
Targa Resources Partners LP |
||||||||
6.50%, 7/15/2027 |
285,000 | 302,100 | ||||||
4.88%, 2/1/2031 |
50,000 | 51,400 | ||||||
4.00%, 1/15/2032 |
205,000 | 201,929 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 99 |
JPMorgan Income ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Oil, Gas & Consumable Fuels — continued |
| |||||||
Transcanada Trust (Canada) (SOFR + 4.42%), 5.50%, 9/15/2079 (c) |
100,000 | 100,870 | ||||||
|
|
|||||||
5,102,973 | ||||||||
|
|
|||||||
Personal Products — 0.3% |
| |||||||
Coty, Inc. 5.00%, 4/15/2026 (a) |
60,000 | 60,365 | ||||||
Edgewell Personal Care Co. 5.50%, 6/1/2028 (a) |
210,000 | 211,050 | ||||||
Prestige Brands, Inc. 5.13%, 1/15/2028 (a) |
130,000 | 130,163 | ||||||
|
|
|||||||
401,578 | ||||||||
|
|
|||||||
Pharmaceuticals — 1.4% |
| |||||||
Bausch Health Americas, Inc. |
||||||||
9.25%, 4/1/2026 (a) |
395,000 | 408,414 | ||||||
8.50%, 1/31/2027 (a) |
265,000 | 268,185 | ||||||
Bausch Health Cos., Inc. |
||||||||
4.88%, 6/1/2028 (a) |
255,000 | 244,945 | ||||||
5.25%, 1/30/2030 (a) |
230,000 | 185,438 | ||||||
Cheplapharm Arzneimittel GmbH (Germany) 5.50%, 1/15/2028 (a) |
250,000 | 249,840 | ||||||
Elanco Animal Health, Inc. 6.40%, 8/28/2028 (f) |
145,000 | 156,644 | ||||||
Jazz Securities DAC 4.38%, 1/15/2029 (a) |
200,000 | 198,092 | ||||||
Organon & Co. 4.13%, 4/30/2028 (a) |
205,000 | 201,640 | ||||||
Teva Pharmaceutical Finance Netherlands III BV (Israel) 3.15%, 10/1/2026 |
50,000 | 44,781 | ||||||
|
|
|||||||
1,957,979 | ||||||||
|
|
|||||||
Road & Rail — 0.5% |
| |||||||
Avis Budget Car Rental LLC |
||||||||
4.75%, 4/1/2028 (a) |
50,000 | 47,500 | ||||||
5.38%, 3/1/2029 (a) |
255,000 | 250,851 | ||||||
Hertz Corp. (The) |
||||||||
4.63%, 12/1/2026 (a) |
45,000 | 42,863 | ||||||
5.00%, 12/1/2029 (a) |
90,000 | 83,952 | ||||||
NESCO Holdings II, Inc. 5.50%, 4/15/2029 (a) |
65,000 | 62,481 | ||||||
Uber Technologies, Inc. |
||||||||
7.50%, 9/15/2027 (a) |
125,000 | 133,594 | ||||||
4.50%, 8/15/2029 (a) |
140,000 | 134,029 | ||||||
|
|
|||||||
755,270 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment — 0.3% |
| |||||||
Broadcom Corp. 3.50%, 1/15/2028 |
100,000 | 102,107 | ||||||
Entegris, Inc. 4.38%, 4/15/2028 (a) |
85,000 | 83,300 | ||||||
ON Semiconductor Corp. 3.88%, 9/1/2028 (a) |
170,000 | 168,512 | ||||||
|
|
|||||||
353,919 | ||||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Software — 0.5% |
| |||||||
Clarivate Science Holdings Corp. 3.88%, 7/1/2028 (a) |
170,000 | 160,650 | ||||||
NCR Corp. 5.13%, 4/15/2029 (a) |
280,000 | 276,850 | ||||||
SS&C Technologies, Inc. 5.50%, 9/30/2027 (a) |
195,000 | 200,413 | ||||||
|
|
|||||||
637,913 | ||||||||
|
|
|||||||
Specialty Retail — 0.8% |
| |||||||
Asbury Automotive Group, Inc. |
||||||||
4.50%, 3/1/2028 |
45,000 | 44,227 | ||||||
4.63%, 11/15/2029 (a) |
105,000 | 102,375 | ||||||
4.75%, 3/1/2030 |
15,000 | 14,550 | ||||||
Bath & Body Works, Inc. 6.75%, 7/1/2036 |
115,000 | 125,431 | ||||||
Group 1 Automotive, Inc. 4.00%, 8/15/2028 (a) |
30,000 | 28,913 | ||||||
Lithia Motors, Inc. 4.63%, 12/15/2027 (a) |
90,000 | 92,025 | ||||||
PetSmart, Inc. 4.75%, 2/15/2028 (a) |
270,000 | 269,325 | ||||||
SRS Distribution, Inc. |
||||||||
4.63%, 7/1/2028 (a) |
126,000 | 120,803 | ||||||
6.13%, 7/1/2029 (a) |
70,000 | 66,882 | ||||||
6.00%, 12/1/2029 (a) |
9,000 | 8,505 | ||||||
Staples, Inc. 7.50%, 4/15/2026 (a) |
205,000 | 202,683 | ||||||
|
|
|||||||
1,075,719 | ||||||||
|
|
|||||||
Thrifts & Mortgage Finance — 0.1% |
| |||||||
Rocket Mortgage LLC 3.88%, 3/1/2031 (a) |
170,000 | 159,163 | ||||||
|
|
|||||||
Tobacco — 0.0% (g) |
| |||||||
BAT Capital Corp. (United Kingdom) 4.39%, 8/15/2037 |
80,000 | 76,674 | ||||||
|
|
|||||||
Trading Companies & Distributors — 0.7% |
| |||||||
Imola Merger Corp. 4.75%, 5/15/2029 (a) |
340,000 | 329,732 | ||||||
United Rentals North America, Inc. 4.88%, 1/15/2028 |
380,000 | 387,824 | ||||||
WESCO Distribution, Inc. |
||||||||
7.13%, 6/15/2025 (a) |
210,000 | 219,925 | ||||||
7.25%, 6/15/2028 (a) |
20,000 | 21,473 | ||||||
|
|
|||||||
958,954 | ||||||||
|
|
|||||||
Wireless Telecommunication Services — 0.6% |
| |||||||
Sprint Corp. 7.63%, 3/1/2026 |
290,000 | 330,619 | ||||||
T-Mobile USA, Inc. 4.75%, 2/1/2028 |
320,000 | 330,352 | ||||||
Vodafone Group plc (United Kingdom) |
||||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.45%), 3.25%, 6/4/2081 (c) |
100,000 | 92,755 |
SEE NOTES TO FINANCIAL STATEMENTS.
100 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Wireless Telecommunication Services — continued |
| |||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.77%), 4.12%, 6/4/2081 (c) |
100,000 | 92,000 | ||||||
|
|
|||||||
845,726 | ||||||||
|
|
|||||||
Total
Corporate Bonds |
51,067,708 | |||||||
|
|
|||||||
Asset-Backed Securities — 18.5% |
| |||||||
ACC Trust Series 2019-2, Class C, 5.24%, 10/21/2024 (a) |
500,000 | 503,693 | ||||||
Air Canada Pass-Through Trust (Canada) Series 2020-2, Class B, 9.00%, 10/1/2025 (a) |
8,227 | 8,894 | ||||||
American Airlines Pass-Through Trust Series 2021-1, Class B, 3.95%, 7/11/2030 |
50,000 | 47,696 | ||||||
American Credit Acceptance Receivables Trust Series 2020-4, Class E, 3.65%, 12/14/2026 (a) |
600,000 | 600,249 | ||||||
AMSR Trust Series 2020-SFR1, Class H, 5.30%, 4/17/2037 (a) |
100,000 | 97,889 | ||||||
Applebee’s Funding LLC |
||||||||
Series 2019-1A, Class A2I, 4.19%, 6/5/2049 (a) |
1,633,500 | 1,629,106 | ||||||
Series 2019-1A, Class A2II, 4.72%, 6/5/2049 (a) |
495,000 | 497,227 | ||||||
Avis Budget Rental Car Funding AESOP LLC Series 2020-1A, Class C, 3.02%, 8/20/2026 (a) |
461,000 | 455,855 | ||||||
British Airways Pass-Through Trust (United Kingdom) Series 2020-1, Class B, 8.38%, 11/15/2028 (a) |
10,439 | 11,766 | ||||||
BSPRT Issuer Ltd. (Cayman Islands) |
||||||||
Series 2021-FL7, Class A, 1.51%, 12/15/2038 (a) (h) |
428,500 | 426,109 | ||||||
Series 2021-FL7, Class D, 2.94%, 12/15/2038 ‡ (a) (h) |
275,000 | 271,563 | ||||||
Series 2021-FL7, Class E, 3.59%, 12/15/2038 ‡ (a) (h) |
265,000 | 262,210 | ||||||
Business Jet Securities LLC Series 2020-1A, Class A, 2.98%, 11/15/2035 (a) |
150,920 | 150,421 | ||||||
CoreVest American Finance Trust |
||||||||
Series 2019-1, Class E, 5.49%, 3/15/2052 ‡ (a) |
300,000 | 313,013 | ||||||
Series 2019-2, Class E, 5.31%, 6/15/2052 ‡ (a) (h) |
350,000 | 350,074 | ||||||
Series 2019-3, Class E, 4.75%, 10/15/2052 ‡ (a) (h) |
350,000 | 339,502 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Diamond Resorts Owner Trust Series 2018-1, Class C, 4.53%, 1/21/2031 ‡ (a) |
109,630 | 110,607 | ||||||
Driven Brands Funding LLC Series 2021-1A, Class A2, 2.79%, 10/20/2051 (a) |
1,995,000 | 1,867,719 | ||||||
DT Auto Owner Trust |
||||||||
Series 2019-2A, Class E, 4.46%, 5/15/2026 (a) |
750,000 | 765,028 | ||||||
Series 2021-4A, Class D, 1.99%, 9/15/2027 (a) |
1,929,000 | 1,862,221 | ||||||
Series 2021-2A, Class E, 2.97%, 7/17/2028 (a) |
1,080,000 | 1,036,513 | ||||||
Series 2021-4A, Class E, 3.34%, 7/17/2028 (a) |
1,600,000 | 1,553,456 | ||||||
FREED ABS Trust |
||||||||
Series 2020-FP1, Class C, 4.37%, 3/18/2027 ‡ (a) |
1,000,000 | 1,003,503 | ||||||
Series 2022-1FP, Class D, 3.35%, 3/19/2029 ‡ (a) |
200,000 | 197,978 | ||||||
GLS Auto Receivables Issuer Trust |
||||||||
Series 2021-1A, Class E, 3.14%, 1/18/2028 (a) |
650,000 | 636,781 | ||||||
Series 2021-3A, Class E, 3.20%, 10/16/2028 (a) |
1,000,000 | 957,351 | ||||||
LendingClub Loan Certificate Issuer Trust |
||||||||
Series 2022-NP1, Class CERT, 3/16/2037 ‡ (a) |
50,000 | 1,414,011 | ||||||
Series 2022-P1, Class CERT, 3/16/2037 ‡ (a) |
50,000 | 1,264,622 | ||||||
ME Funding LLC Series 2019-1, Class A2, 6.45%, 7/30/2049 (a) |
588,000 | 607,892 | ||||||
New Residential Mortgage Loan Trust Series 2022-SFR1, Class E1, 3.55%, 2/17/2039 (a) |
168,000 | 161,727 | ||||||
NRZ Excess Spread-Collateralized Notes Series 2021-GNT1, Class A, 3.47%, 11/25/2026 (a) |
232,259 | 229,961 | ||||||
Planet Fitness Master Issuer LLC Series 2022-1A, Class A2I, 3.25%, 12/5/2051 (a) |
65,000 | 64,095 | ||||||
Republic Finance Issuance Trust Series 2021-A, Class D, 5.23%, 12/22/2031 ‡ (a) |
800,000 | 782,014 | ||||||
Service Experts Issuer LLC Series 2021-1A, Class A, 2.67%, 2/2/2032 (a) |
376,896 | 369,037 | ||||||
United Airlines Pass-Through Trust |
||||||||
Series 2016-2, Class B, 3.65%, 10/7/2025 |
39,444 | 38,535 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 101 |
JPMorgan Income ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Asset-Backed Securities — continued |
| |||||||
Series 2016-1, Class B, 3.65%, 1/7/2026 |
32,870 | 32,392 | ||||||
Upstart Pass-Through Trust |
||||||||
Series 2021-ST10, Class A, 2.25%, 1/20/2030 (a) |
1,055,490 | 1,038,245 | ||||||
Series 2022-PT2, Class A, 18.12%, 2/20/2030 (a) (h) |
1,000,000 | 1,000,000 | ||||||
Upstart Securitization Trust |
||||||||
Series 2020-3, Class C, 6.25%, 11/20/2030 ‡ (a) |
1,000,000 | 1,038,953 | ||||||
Series 2021-2, Class C, 3.61%, 6/20/2031 ‡ (a) |
1,500,000 | 1,467,113 | ||||||
|
|
|||||||
Total
Asset-Backed Securities |
25,465,021 | |||||||
|
|
|||||||
Commercial Mortgage-Backed Securities — 16.2% |
| |||||||
BANK |
||||||||
Series 2019-BN20, Class D, 2.50%, 9/15/2062 ‡ (a) |
700,000 | 572,049 | ||||||
Series 2020-BN26, Class E, 2.50%, 3/15/2063 ‡ (a) |
320,000 | 240,419 | ||||||
BX Commercial Mortgage Trust Series 2020-VIVA, Class D, 3.55%, 3/11/2044 ‡ (a) (h) |
750,000 | 679,165 | ||||||
Citigroup Commercial Mortgage Trust Series 2018-C5, Class XA, IO, 0.54%, 6/10/2051 (h) |
1,646,171 | 57,680 | ||||||
Citigroup COmmercial Mortgage Trust Series 2018-C6, Class XA, IO, 0.77%, 11/10/2051 (h) |
1,181,975 | 53,106 | ||||||
Commercial Mortgage Trust Series 2016-DC2, Class D, 3.92%, 2/10/2049 (a) (h) |
350,000 | 313,120 | ||||||
FHLMC, Multi-Family Structured Pass-Through Certificates |
||||||||
Series K741, Class X1, IO, 0.57%, 12/25/2027 (h) |
1,448,345 | 42,883 | ||||||
Series K742, Class X1, IO, 0.78%, 3/25/2028 (h) |
2,773,307 | 100,506 | ||||||
Series K742, Class X3, IO, 2.60%, 4/25/2028 (h) |
5,000,000 | 689,885 | ||||||
Series K743, Class X1, IO, 0.93%, 5/25/2028 (h) |
1,656,166 | 85,516 | ||||||
Series K744, Class X1, IO, 0.86%, 7/25/2028 (h) |
2,154,856 | 104,522 | ||||||
Series K084, Class X3, IO, 2.24%, 11/25/2028 (h) |
751,485 | 95,686 | ||||||
Series K104, Class X1, IO, 1.13%, 1/25/2030 (h) |
9,382,114 | 707,098 | ||||||
Series K110, Class X1, IO, 1.70%, 4/25/2030 (h) |
8,878,512 | 1,013,653 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Series K132, Class X1, IO, 0.51%, 8/25/2031 (h) |
16,899,044 | 723,119 | ||||||
Series K-1514, Class X1, IO, 0.58%, 10/25/2034 (h) |
1,203,887 | 70,616 | ||||||
Series K-1517, Class X1, IO, 1.33%, 7/25/2035 (h) |
392,792 | 54,626 | ||||||
Series K-1520, Class X1, IO, 0.47%, 2/25/2036 ‡ (h) |
413,618 | 20,805 | ||||||
Series K067, Class X3, IO, 2.11%, 9/25/2044 (h) |
1,575,428 | 158,890 | ||||||
Series K065, Class X3, IO, 2.18%, 7/25/2045 (h) |
1,304,230 | 129,378 | ||||||
Series K083, Class X3, IO, 2.29%, 11/25/2046 (h) |
621,062 | 80,117 | ||||||
Series K737, Class X3, IO, 1.77%, 1/25/2048 (h) |
900,000 | 66,330 | ||||||
Series K124, Class X3, IO, 2.62%, 2/25/2049 (h) |
5,000,000 | 954,304 | ||||||
Series K741, Class X3, IO, 2.45%, 3/25/2049 (h) |
13,766,615 | 1,693,599 | ||||||
Series K743, Class X3, IO, 2.95%, 6/25/2049 (h) |
13,000,000 | 2,061,230 | ||||||
FNMA ACES |
||||||||
Series 2020-M3, Class X1, IO, 0.36%, 2/25/2030 (h) |
3,893,160 | 98,036 | ||||||
Series 2022-M2, Class X2, IO, 0.24%, 1/25/2032 (h) |
2,910,001 | 55,712 | ||||||
Series 2020-M31, Class AB, 0.50%, 10/25/2032 |
104,108 | 96,174 | ||||||
FREMF Mortgage Trust |
||||||||
Series 2019-KW09, Class X2A, IO, 0.10%, 5/25/2029 (a) |
19,983,847 | 100,213 | ||||||
Series 2019-KW09, Class C, PO, 6/25/2029 (a) |
790,000 | 486,988 | ||||||
Series 2019-KW09, Class X2B, IO, 0.10%, 6/25/2029 (a) |
10,000,000 | 56,156 | ||||||
GNMA |
||||||||
Series 2014-135, IO, 0.42%, 1/16/2056 (h) |
7,055,451 | 159,772 | ||||||
Series 2017-53, IO, 0.54%, 11/16/2056 (h) |
5,235,184 | 206,079 | ||||||
Series 2015-114, IO, 0.55%, 3/15/2057 (h) |
5,774,577 | 120,782 | ||||||
Series 2017-158, IO, 0.47%, 9/16/2057 (h) |
3,820,633 | 143,776 | ||||||
Series 2020-184, IO, 0.91%, 11/16/2060 (h) |
6,829,073 | 535,487 | ||||||
Series 2021-218, IO, 0.96%, 10/16/2061 (h) |
348,894 | 30,537 |
SEE NOTES TO FINANCIAL STATEMENTS.
102 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Commercial Mortgage-Backed Securities — continued |
| |||||||
Series 2020-120, IO, 0.80%, 5/16/2062 (h) |
6,282,297 | 452,212 | ||||||
Series 2020-100, IO, 0.81%, 5/16/2062 (h) |
6,016,389 | 432,888 | ||||||
Series 2020-161, IO, 1.04%, 8/16/2062 (h) |
5,433,322 | 449,714 | ||||||
Series 2021-120, IO, 1.01%, 2/16/2063 (h) |
6,937,379 | 613,213 | ||||||
Series 2021-61, IO, 1.15%, 8/16/2063 (h) |
1,751,760 | 154,368 | ||||||
Series 2021-195, Class IX, IO, 1.20%, 8/16/2063 (h) |
1,992,794 | 203,666 | ||||||
Series 2021-110, IO, 0.88%, 11/16/2063 (h) |
5,995,612 | 481,734 | ||||||
Series 2021-180, IO, 0.91%, 11/16/2063 (h) |
4,960,252 | 414,930 | ||||||
Series 2021-200, IO, 0.91%, 11/16/2063 (h) |
2,174,462 | 180,308 | ||||||
Series 2021-150, IO, 1.04%, 11/16/2063 (h) |
4,938,030 | 451,114 | ||||||
Series 2021-185, IO, 1.11%, 11/16/2063 (h) |
1,541,694 | 144,498 | ||||||
Series 2022-7, Class SA, IF, IO, 3.60%, 2/16/2064 (h) |
1,402,055 | 263,015 | ||||||
Series 2021-224, IO, 0.78%, 4/16/2064 (h) |
1,996,349 | 158,949 | ||||||
GS Mortgage Securities Trust |
||||||||
Series 2016-GS2, Class D, 2.75%, 5/10/2049 ‡ (a) |
750,000 | 657,182 | ||||||
Series 2019-GC40, Class E, 3.00%, 7/10/2052 ‡ (a) |
800,000 | 635,917 | ||||||
JPMorgan Chase Commercial Mortgage Securities Trust Series 2013-C16, Class D, 5.01%, 12/15/2046 ‡ (a) (h) |
1,500,000 | 1,498,464 | ||||||
Morgan Stanley Bank of America Merrill Lynch Trust Series 2014-C15, Class D, 4.90%, 4/15/2047 ‡ (a) (h) |
1,337,000 | 1,338,236 | ||||||
UBS-Barclays Commercial Mortgage Trust Series 2012-C4, Class C, 4.31%, 12/10/2045 ‡ (a) (h) |
1,000,000 | 989,123 | ||||||
|
|
|||||||
Total
Commercial Mortgage-Backed Securities |
22,377,545 | |||||||
|
|
|||||||
Collateralized Mortgage Obligations — 7.5% |
| |||||||
Connecticut Avenue Securities Trust Series 2019-R01, Class 2B1, 4.54%, 7/25/2031 ‡ (a) (h) |
1,500,000 | 1,517,003 | ||||||
FHLMC STACR REMIC Trust Series 2021-HQA1, Class M2, 2.30%, 8/25/2033 (a) (h) |
2,000,000 | 1,956,143 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
FNMA, Connecticut Avenue Securities |
||||||||
Series 2017-C01, Class 1B1, 5.94%, 7/25/2029 (h) |
1,000,000 | 1,100,133 | ||||||
Series 2017-C02, Class 2B1, 5.69%, 9/25/2029 (h) |
1,000,000 | 1,077,515 | ||||||
Series 2017-C04, Class 2B1, 5.24%, 11/25/2029 (h) |
1,500,000 | 1,604,344 | ||||||
Series 2021-R02, Class 2B1, 3.35%, 11/25/2041 (a) (h) |
64,000 | 60,016 | ||||||
Series 2021-R02, Class 2B2, 6.25%, 11/25/2041 (a) (h) |
26,000 | 24,540 | ||||||
GNMA |
||||||||
Series 2014-181, Class SL, IF, IO, 5.44%, 12/20/2044 (h) |
649,148 | 114,475 | ||||||
Series 2017-134, Class SD, IF, IO, 6.04%, 9/20/2047 (h) |
651,465 | 104,437 | ||||||
Series 2019-52, Class SA, IF, IO, 5.94%, 4/20/2049 (h) |
1,003,746 | 171,552 | ||||||
Series 2021-78, Class IB, IO, 3.00%, 5/20/2051 |
1,239,905 | 146,313 | ||||||
Series 2021-107, Class XI, IO, 3.00%, 6/20/2051 |
1,755,225 | 208,753 | ||||||
Series 2021-117, Class ES, IF, IO, 6.14%, 7/20/2051 (h) |
2,024,266 | 395,537 | ||||||
Series 2021-142, Class XI, IO, 3.00%, 8/20/2051 |
177,280 | 24,066 | ||||||
Series 2021-154, Class SD, IF, IO, 6.14%, 9/20/2051 (h) |
607,537 | 123,086 | ||||||
Series 2021-188, Class IJ, IO, 3.00%, 10/20/2051 |
3,470,477 | 484,626 | ||||||
PRPM LLC Series 2021-11, Class A2, 4.58%, 11/25/2026 (a) (f) |
1,000,000 | 979,828 | ||||||
RCO VI Mortgage LLC Series 2022-1, Class A1, 3.00%, 1/25/2027 (a) (f) |
250,000 | 246,605 | ||||||
|
|
|||||||
Total
Collateralized Mortgage Obligations |
10,338,972 | |||||||
|
|
|||||||
Foreign Government Securities — 3.3% |
| |||||||
Arab Republic of Egypt (Egypt) |
||||||||
7.05%, 1/15/2032 (d) |
200,000 | 162,500 | ||||||
7.90%, 2/21/2048 (d) |
200,000 | 147,000 | ||||||
Dominican Republic Government Bond (Dominican Republic) |
||||||||
6.00%, 2/22/2033 (a) |
150,000 | 147,356 | ||||||
5.30%, 1/21/2041 (d) |
150,000 | 128,466 | ||||||
7.45%, 4/30/2044 (d) |
100,000 | 104,769 | ||||||
5.88%, 1/30/2060 (d) |
150,000 | 126,215 | ||||||
Federal Republic of Nigeria (Nigeria) |
||||||||
6.50%, 11/28/2027 (d) |
200,000 | 190,000 | ||||||
7.38%, 9/28/2033 (d) |
200,000 | 178,225 | ||||||
8.25%, 9/28/2051 (a) |
200,000 | 171,500 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 103 |
JPMorgan Income ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities — continued |
| |||||||
Federative Republic of Brazil (Brazil) 3.75%, 9/12/2031 |
200,000 | 180,600 | ||||||
Hashemite Kingdom of Jordan (Jordan) 5.85%, 7/7/2030 (d) |
200,000 | 187,500 | ||||||
Islamic Republic of Pakistan (Pakistan) 6.00%, 4/8/2026 (d) |
200,000 | 182,522 | ||||||
Kingdom of Bahrain (Bahrain) 5.45%, 9/16/2032 (d) |
200,000 | 184,000 | ||||||
Republic of Angola (Angola) 8.00%, 11/26/2029 (d) |
200,000 | 196,500 | ||||||
Republic of Cote d’Ivoire (Ivory Coast) |
||||||||
5.75%, 12/31/2032 (d) (f) |
131,389 | 126,897 | ||||||
6.13%, 6/15/2033 (d) |
200,000 | 192,475 | ||||||
Republic of Ecuador (Ecuador) 5.00%, 7/31/2030 (d) (f) |
120,000 | 105,548 | ||||||
Republic of El Salvador (El Salvador) |
||||||||
6.38%, 1/18/2027 (d) |
50,000 | 27,306 | ||||||
7.12%, 1/20/2050 (d) |
150,000 | 73,200 | ||||||
Republic of Ghana (Ghana) |
||||||||
6.38%, 2/11/2027 (d) |
200,000 | 137,500 | ||||||
8.75%, 3/11/2061 (d) |
200,000 | 129,500 | ||||||
Republic of Iraq (Iraq) 5.80%, 1/15/2028 (d) |
187,500 | 179,742 | ||||||
Republic of Kenya (Kenya) 8.00%, 5/22/2032 (d) |
200,000 | 187,500 | ||||||
Republic of Paraguay (Paraguay) 5.40%, 3/30/2050 (a) |
200,000 | 195,850 | ||||||
Republic of Rwanda (Rwanda) 5.50%, 8/9/2031 (a) |
200,000 | 189,163 | ||||||
Republic of Senegal (Senegal) 6.75%, 3/13/2048 (d) |
200,000 | 168,600 | ||||||
Republic of South Africa (South Africa) 6.25%, 3/8/2041 |
100,000 | 98,112 | ||||||
State of Mongolia (Mongolia) 4.45%, 7/7/2031 (d) |
200,000 | 179,522 | ||||||
Sultanate of Oman Government Bond (Oman) 6.50%, 3/8/2047 (d) |
200,000 | 186,000 | ||||||
Ukraine Government Bond (Ukraine) 6.88%, 5/21/2029 (d) |
200,000 | 62,000 | ||||||
|
|
|||||||
Total
Foreign Government Securities |
4,526,068 | |||||||
|
|
|||||||
Mortgage-Backed Securities — 2.6% |
| |||||||
GNMA
II, 30 Year Pool # MA7706, 3.00%, 11/20/2051 |
3,465,288 | 3,528,365 | ||||||
|
|
INVESTMENTS | SHARES |
VALUE ($) | ||||||
Exchange-Traded Funds — 0.7% |
| |||||||
SPDR
Blackstone Senior Loan ETF |
21,800 | 982,962 | ||||||
|
|
|||||||
Short-Term Investments — 13.4% |
||||||||
Investment Companies — 13.4% |
||||||||
JPMorgan
Prime Money Market Fund Class IM Shares,
0.07% (i) (j) |
18,524,176 | 18,529,733 | ||||||
|
|
|||||||
Total
Investments — 99.2% |
136,816,374 | |||||||
Other Assets Less Liabilities — 0.8% |
1,044,627 | |||||||
|
|
|||||||
NET ASSETS — 100.0% |
|
137,861,001 | ||||||
|
|
Percentages indicated are based on net assets.
Abbreviations
ABS |
Asset-Backed Securities | |
ACES |
Alternative Credit Enhancement Securities | |
ETF |
Exchange-Traded Fund | |
FHLMC |
Federal Home Loan Mortgage Corp. | |
FNMA |
Federal National Mortgage Association | |
GNMA |
Government National Mortgage Association | |
ICE |
Intercontinental Exchange | |
IF |
Inverse Floaters represent securities that pay interest at a rate that increases (decreases) with a decline (incline) in a specified index or have an interest rate that adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the rate in effect as of February 28, 2022. The rate may be subject to a cap and floor. | |
IO |
Interest Only represents the right to receive the monthly interest payments on an underlying pool of mortgage loans. The principal amount shown represents the par value on the underlying pool. The yields on these securities are subject to accelerated principal paydowns as a result of prepayment or refinancing of the underlying pool of mortgage instruments. As a result, interest income may be reduced considerably. | |
LIBOR |
London Interbank Offered Rate | |
PO |
Principal Only represents the right to receive the principal portion only on an underlying pool of mortgage loans. The market value of these securities is extremely volatile in response to changes in market interest rates. As prepayments on the underlying mortgages of these securities increase, the yield on these securities increases. | |
REMIC |
Real Estate Mortgage Investment Conduit | |
SCA |
Limited partnership with share capital | |
SOFR |
Secured Overnight Financing Rate | |
SPDR |
Standard & Poor’s Depository Receipts | |
USD |
United States Dollar | |
(a) |
Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. |
SEE NOTES TO FINANCIAL STATEMENTS.
104 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
(b) |
Security is perpetual and thus, does not have a predetermined maturity date. The coupon rate for this security is fixed for a period of time and may be structured to adjust thereafter. The date shown, if applicable, reflects the next call date. The coupon rate shown is the rate in effect as of February 28, 2022. | |
(c) |
Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of February 28, 2022. | |
(d) |
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. | |
(e) |
Security is an interest bearing note with preferred security characteristics. |
(f) |
Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future contingent upon a predetermined trigger. The interest rate shown is the current rate as of February 28, 2022. | |
(g) |
Amount rounds to less than 0.1% of net assets. | |
(h) |
Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of February 28, 2022. | |
(i) |
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. | |
(j) |
The rate shown is the current yield as of February 28, 2022. | |
‡ |
Value determined using significant unobservable inputs. |
Futures contracts outstanding as of February 28, 2022:
DESCRIPTION | NUMBER OF CONTRACTS |
EXPIRATION DATE |
TRADING CURRENCY |
NOTIONAL AMOUNT ($) |
VALUE
AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
|||||||||||||||
Long Contracts |
||||||||||||||||||||
U.S. Treasury 2 Year Note |
4 | 06/2022 | USD | 860,406 | 1,828 | |||||||||||||||
U.S. Treasury 5 Year Note |
90 | 06/2022 | USD | 10,641,797 | 42,711 | |||||||||||||||
U.S. Treasury Long Bond |
2 | 06/2022 | USD | 313,875 | 4,628 | |||||||||||||||
|
|
|||||||||||||||||||
49,167 | ||||||||||||||||||||
|
|
|||||||||||||||||||
Short Contracts |
||||||||||||||||||||
U.S. Treasury 2 Year Note |
(11 | ) | 06/2022 | USD | (2,366,117 | ) | (5,076 | ) | ||||||||||||
U.S. Treasury 10 Year Note |
(182 | ) | 06/2022 | USD | (23,190,781 | ) | (146,835 | ) | ||||||||||||
U.S. Treasury 10 Year Ultra Note |
(7 | ) | 06/2022 | USD | (990,063 | ) | (9,585 | ) | ||||||||||||
U.S. Treasury Ultra Bond |
(4 | ) | 06/2022 | USD | (746,250 | ) | (8,165 | ) | ||||||||||||
|
|
|||||||||||||||||||
(169,661 | ) | |||||||||||||||||||
|
|
|||||||||||||||||||
(120,494 | ) | |||||||||||||||||||
|
|
Abbreviations
USD |
UnitedStates Dollar |
Forward foreign currency exchange contracts outstanding as of February 28, 2022: | ||||||||||||||||||||||
CURRENCY PURCHASED | CURRENCY SOLD | COUNTERPARTY | SETTLEMENT DATE |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
||||||||||||||||||
BRL | 4,097,207 | USD | 772,766 | Citibank, NA** | 3/15/2022 | 19,743 | ||||||||||||||||
CAD | 984,815 | USD | 776,906 | Goldman Sachs International | 3/15/2022 | 112 | ||||||||||||||||
CNY | 4,955,886 | USD | 776,906 | HSBC Bank, NA** | 3/15/2022 | 6,714 | ||||||||||||||||
MXN | 15,993,462 | USD | 776,906 | Goldman Sachs International | 3/15/2022 | 2,204 | ||||||||||||||||
USD | 778,604 | CAD | 984,815 | Goldman Sachs International | 3/15/2022 | 1,586 | ||||||||||||||||
USD | 783,348 | ZAR | 11,811,223 | HSBC Bank, NA | 3/15/2022 | 16,514 | ||||||||||||||||
|
|
|||||||||||||||||||||
Total unrealized appreciation | 46,873 | |||||||||||||||||||||
|
|
|||||||||||||||||||||
USD | 781,641 | BRL | 4,097,207 | Bank of America NA** | 3/15/2022 | (10,868 | ) | |||||||||||||||
USD | 777,905 | CNY | 4,955,886 | BNP Paribas** | 3/15/2022 | (5,715 | ) | |||||||||||||||
USD | 778,434 | MXN | 15,993,462 | Citibank, NA | 3/15/2022 | (676 | ) | |||||||||||||||
ZAR | 590,034 | USD | 38,558 | Goldman Sachs International | 3/15/2022 | (251 | ) | |||||||||||||||
ZAR | 11,221,189 | USD | 738,348 | HSBC Bank, NA | 3/15/2022 | (9,821 | ) | |||||||||||||||
|
|
|||||||||||||||||||||
Total unrealized depreciation | (27,331 | ) | ||||||||||||||||||||
|
|
|||||||||||||||||||||
Net unrealized appreciation | 19,542 | |||||||||||||||||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 105 |
JPMorgan Income ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
Abbreviations
BRL |
BrazilianReal | |
CAD |
CanadianDollar | |
CNY |
ChinaYuan | |
MXN |
MexicanPeso | |
USD |
UnitedStates Dollar | |
ZAR |
SouthAfrican Rand |
Over-the-Counter (“OTC”) Credit default swap contracts outstanding — buy protection (a) as of February 28, 2022: | ||||||||||||||||||||||||||||||||
REFERENCE OBLIGATION/INDEX |
FINANCING RATE PAID BY THE FUND (%) |
PAYMENT FREQUENCY |
COUNTERPARTY | MATURITY DATE |
IMPLIED CREDIT SPREAD (%) (b) |
NOTIONAL AMOUNT (c) |
UPFRONT PAYMENTS (RECEIPTS) ($) (d) |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
VALUE ($) |
|||||||||||||||||||||||
Russian Federation, 2.25%, 3/31/2030 |
1.00 | Quarterly | Citibank, NA | 12/20/2026 | 21.75 | USD | 80,000 | 1,190 | 36,141 | 37,331 | ||||||||||||||||||||||
Russian Federation, 2.25%, 3/31/2030 |
1.00 | Quarterly | Citibank, NA | 12/20/2026 | 21.75 | USD | 81,000 | 1,191 | 36,606 | 37,797 | ||||||||||||||||||||||
Russian Federation, 2.25%, 3/31/2030 |
1.00 | Quarterly | Merrill Lynch International | 12/20/2026 | 21.75 | USD | 333,000 | 2,852 | 152,538 | 155,390 | ||||||||||||||||||||||
Russian Federation, 2.25%, 3/31/2030 |
1.00 | Quarterly | Merrill Lynch International | 12/20/2026 | 21.75 | USD | 41,500 | 486 | 18,879 | 19,365 | ||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||
5,719 | 244,164 | 249,883 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
Centrally Cleared Credit default swap contracts outstanding — sell protection (e) as of February 28, 2022: | ||||||||||||||||||||||||||||||
REFERENCE OBLIGATION/INDEX |
FINANCING RATE PAID BY THE FUND (%) |
PAYMENT FREQUENCY |
MATURITY DATE |
IMPLIED CREDIT SPREAD (%) (b) |
NOTIONAL AMOUNT (c) |
UPFRONT PAYMENTS (RECEIPTS) ($) (d) |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
VALUE ($) |
||||||||||||||||||||||
CDX.NA.HY.37-V1 |
5.00 | Quarterly | 12/20/2026 | 3.64 | USD 2,075,000 | 144,423 | (6,992 | ) | 137,431 | |||||||||||||||||||||
|
|
|
|
|
|
(a) |
The Fund, as a buyer of credit protection, is generally obligated to make periodic payments and may also pay or receive an upfront premium to or from the protection seller, in exchange for the right to receive a contingent payment, upon occurrence of a credit event with respect to an underlying reference obligation, as defined under the terms of individual swap contracts. |
(b) |
Implied credit spreads are an indication of the seller’s performance risk, related to the likelihood of a credit event occurring that would require a seller to make payment to a buyer. Implied credit spreads are used to determine the value of swap contracts and reflect the cost of buying/selling protection, which may include upfront payments made to enter into the contract. Therefore, higher spreads would indicate a greater likelihood that a seller will be obligated to perform (i.e. make payment) under the swap contract. Increasing values, in absolute terms and relative to notional amounts, are also indicative of greater performance risk. Implied credit spreads for credit default swaps on credit indices are linked to the weighted average spread across the underlying reference obligations included in a particular index. |
(c) |
The notional amount is the maximum amount that a seller of credit protection would be obligated to pay and a buyer of credit protection would receive, upon occurrence of a credit event. |
(d) |
Upfront payments and receipts generally represent premiums paid or received at the initiation of the agreement to compensate the differences between the stated terms of the swap agreement and current market conditions (credit spreads, interest rates and other relevant factors). |
(e) |
The Fund, as a seller of credit protection, receives periodic payments and may also receive or pay an upfront premium from or to the protection buyer, and is obligated to make a contingent payment, upon occurrence of a credit event with respect to an underlying reference obligation, as defined under the terms of individual swap contracts. |
Abbreviations
CDX |
CreditDefault Swap Index | |
USD |
UnitedStates Dollar |
SEE NOTES TO FINANCIAL STATEMENTS.
106 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
Summary of total OTC swap contracts outstanding as of February 28, 2022:
NET UPFRONT PAYMENTS (RECEIPTS) ($) |
VALUE ($) |
|||||||
Assets |
||||||||
OTC Credit default swap contracts outstanding — buy protection |
5,719 | 249,883 | ||||||
|
|
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 107 |
JPMorgan International Bond Opportunities ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — 55.4% |
| |||||||
Australia — 0.3% |
| |||||||
APT Pipelines Ltd. 2.00%, 7/15/2030 (a) |
EUR | 150,000 | 167,203 | |||||
Glencore Finance Europe Ltd. 6.00%, 4/3/2022 (a) (b) |
GBP | 100,000 | 134,621 | |||||
Glencore Funding LLC |
||||||||
2.50%, 9/1/2030 (c) |
462,000 | 425,089 | ||||||
2.63%, 9/23/2031 (c) |
203,000 | 186,495 | ||||||
Rio Tinto Finance USA Ltd. 2.75%, 11/2/2051 |
115,000 | 101,048 | ||||||
Westpac Banking Corp. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.00%), 4.11%, 7/24/2034 (d) |
75,000 | 77,440 | ||||||
|
|
|||||||
1,091,896 | ||||||||
|
|
|||||||
Austria — 0.3% |
| |||||||
ams-OSRAM AG 6.00%, 7/31/2025 (a) |
EUR | 700,000 | 816,713 | |||||
|
|
|||||||
Belgium — 1.0% |
| |||||||
Anheuser-Busch Cos. LLC |
||||||||
4.70%, 2/1/2036 |
170,000 | 189,462 | ||||||
4.90%, 2/1/2046 |
85,000 | 96,047 | ||||||
Anheuser-Busch InBev SA/NV 3.70%, 4/2/2040 (a) |
EUR | 200,000 | 267,620 | |||||
Anheuser-Busch InBev Worldwide, Inc. 4.44%, 10/6/2048 |
114,000 | 121,980 | ||||||
KBC Group NV |
||||||||
(EUR Swap Annual 5 Year + 4.69%), 4.75%, 3/5/2024 (a) (d) (e) (f) |
EUR | 400,000 | 455,228 | |||||
(EUR Swap Annual 5 Year + 1.25%), 1.62%, 9/18/2029 (a) (d) |
EUR | 300,000 | 336,190 | |||||
Ontex Group NV 3.50%, 7/15/2026 (a) |
EUR | 350,000 | 350,101 | |||||
Sarens Finance Co. NV 5.75%, 2/21/2027 (a) |
EUR | 400,000 | 407,384 | |||||
Solvay Finance SACA (EUR Swap Annual 5 Year + 3.70%), 5.42%, 11/12/2023 (a) (d) (e) (f) |
EUR | 100,000 | 117,778 | |||||
Solvay SA (EUR Swap Annual 5 Year + 3.92%), 4.25%, 12/4/2023 (a) (d) (e) (f) |
EUR | 700,000 | 800,800 | |||||
Telenet Finance Luxembourg Notes SARL 3.50%, 3/1/2028 (a) |
EUR | 200,000 | 220,620 | |||||
|
|
|||||||
3,363,210 | ||||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Brazil — 0.3% |
| |||||||
Guara Norte SARL 5.20%, 6/15/2034 (c) |
311,851 | 284,758 | ||||||
Klabin Austria GmbH 7.00%, 4/3/2049 (a) |
200,000 | 206,000 | ||||||
Suzano Austria GmbH |
||||||||
3.75%, 1/15/2031 |
48,000 | 44,916 | ||||||
7.00%, 3/16/2047 (a) |
200,000 | 227,750 | ||||||
Vale Overseas Ltd. 3.75%, 7/8/2030 |
259,000 | 254,338 | ||||||
|
|
|||||||
1,017,762 | ||||||||
|
|
|||||||
Canada — 0.2% |
| |||||||
Emera US Finance LP 2.64%, 6/15/2031 |
272,000 | 254,105 | ||||||
Emera, Inc. Series 16-A, (ICE LIBOR USD 3 Month + 5.44%), 6.75%, 6/15/2076 (d) |
236,000 | 256,504 | ||||||
Transcanada Trust Series 16-A, (ICE LIBOR USD 3 Month + 4.64%), 5.87%, 8/15/2076 (d) |
57,000 | 58,567 | ||||||
|
|
|||||||
569,176 | ||||||||
|
|
|||||||
Chile — 0.2% |
| |||||||
Alfa Desarrollo SpA 4.55%, 9/27/2051 (c) |
340,000 | 290,700 | ||||||
Empresa de Transporte de Pasajeros Metro SA 4.70%, 5/7/2050 (c) |
200,000 | 206,610 | ||||||
Kenbourne Invest SA 6.88%, 11/26/2024 (c) |
200,000 | 202,037 | ||||||
|
|
|||||||
699,347 | ||||||||
|
|
|||||||
China — 0.5% |
| |||||||
Alibaba Group Holding Ltd. 3.40%, 12/6/2027 |
200,000 | 202,700 | ||||||
Country Garden Holdings Co. Ltd. 3.13%, 10/22/2025 (a) |
530,000 | 373,385 | ||||||
Huarong Finance 2017 Co. Ltd. 4.25%, 11/7/2027 (a) |
200,000 | 186,000 | ||||||
Huarong Finance 2019 Co. Ltd. |
||||||||
(ICE LIBOR USD 3 Month + 1.13%), 1.61%, 2/24/2023 (a) (d) |
200,000 | 194,500 | ||||||
2.13%, 9/30/2023 (a) |
200,000 | 192,000 | ||||||
Longfor Group Holdings Ltd. 4.50%, 1/16/2028 (a) |
300,000 | 292,369 | ||||||
NXP BV 3.25%, 5/11/2041 (c) |
300,000 | 274,347 | ||||||
|
|
|||||||
1,715,301 | ||||||||
|
|
|||||||
Colombia — 0.1% |
| |||||||
AI Candelaria Spain SA 5.75%, 6/15/2033 (c) |
250,000 | 216,750 | ||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
108 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Denmark — 0.2% |
| |||||||
DKT Finance ApS 7.00%, 6/17/2023 (a) |
EUR | 300,000 | 336,160 | |||||
TDC Holding A/S 5.00%, 3/2/2022 (b) |
EUR | 200,000 | 224,250 | |||||
|
|
|||||||
560,410 | ||||||||
|
|
|||||||
Finland — 0.2% |
| |||||||
Nokia OYJ 2.00%, 3/15/2024 (a) |
EUR | 425,000 | 483,984 | |||||
Nordea Bank Abp |
||||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.11%), 6.63%, 3/26/2026 (c) (d) (e) (f) |
200,000 | 214,500 | ||||||
(EUR Swap Annual 5 Year + 1.30%), 1.00%, 6/27/2029 (a) (d) |
EUR | 100,000 | 111,216 | |||||
|
|
|||||||
809,700 | ||||||||
|
|
|||||||
France — 8.3% |
| |||||||
Airbus SE 1.63%, 6/9/2030 (a) |
EUR | 700,000 | 800,235 | |||||
Altice France SA 3.38%, 1/15/2028 (a) |
EUR | 1,100,000 | 1,122,021 | |||||
AXA SA (EURIBOR 3 Month + 3.75%), 3.38%, 7/6/2047 (a) (d) |
EUR | 600,000 | 718,676 | |||||
Banijay Entertainment SASU 3.50%, 3/1/2025 (a) |
EUR | 375,000 | 408,812 | |||||
Banijay Group SAS 6.50%, 3/1/2026 (a) |
EUR | 200,000 | 221,178 | |||||
BPCE SA |
||||||||
5.15%, 7/21/2024 (c) |
600,000 | 629,168 | ||||||
(EURIBOR 3 Month + 1.00%), 0.50%, 9/15/2027 (a) (d) |
EUR | 400,000 | 428,721 | |||||
(EUR Swap Annual 5 Year + 2.37%), 2.75%, 11/30/2027 (a) (d) |
EUR | 400,000 | 456,223 | |||||
(SOFR + 1.73%), 3.12%, 10/19/2032 (c) (d) |
250,000 | 235,659 | ||||||
Casino Guichard Perrachon SA 4.50%, 3/7/2024 (a) (b) |
EUR | 400,000 | 412,620 | |||||
CGG SA |
||||||||
7.75%, 4/1/2027 (c) |
EUR | 184,000 | 203,303 | |||||
7.75%, 4/1/2027 (a) |
EUR | 150,000 | 165,737 | |||||
Chrome Bidco SASU |
||||||||
3.50%, 5/31/2028 (c) |
EUR | 239,000 | 249,049 | |||||
3.50%, 5/31/2028 (a) |
EUR | 100,000 | 104,204 | |||||
Chrome Holdco SASU |
||||||||
5.00%, 5/31/2029 (a) |
EUR | 200,000 | 205,467 | |||||
5.00%, 5/31/2029 (c) |
EUR | 158,000 | 162,319 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
France — continued |
| |||||||
Credit Agricole SA |
||||||||
3.25%, 10/4/2024 (c) |
376,000 | 384,164 | ||||||
(USD Swap Semi 5 Year + 6.19%), 8.12%, 12/23/2025 (c) (d) (e) (f) |
1,075,000 | 1,210,719 | ||||||
(EUR Swap Annual 5 Year + 4.37%), 4.00%, 12/23/2027 (a) (d) (e) (f) |
EUR | 100,000 | 112,118 | |||||
2.00%, 3/25/2029 (a) |
EUR | 200,000 | 220,470 | |||||
(EUR Swap Annual 5 Year + 1.90%), 1.62%, 6/5/2030 (a) (d) |
EUR | 500,000 | 556,982 | |||||
Credit Mutuel Arkea SA (EURIBOR ICE Swap Rate 5 Year + 1.45%), 1.88%, 10/25/2029 (a) (d) |
EUR | 300,000 | 336,913 | |||||
Electricite de France SA |
||||||||
(EUR Swap Annual 6 Year + 3.44%), 4.00%, 7/4/2024 (a) (d) (e) (f) |
EUR | 300,000 | 331,783 | |||||
(EUR Swap Annual 5 Year + 3.97%), 3.38%, 6/15/2030 (a) (d) (e) (f) |
EUR | 600,000 | 583,611 | |||||
Elis SA 1.63%, 4/3/2028 (a) |
EUR | 700,000 | 727,972 | |||||
Faurecia SE |
||||||||
3.13%, 6/15/2026 (a) |
EUR | 700,000 | 769,785 | |||||
2.38%, 6/15/2027 (a) |
EUR | 600,000 | 623,976 | |||||
3.75%, 6/15/2028 (a) |
EUR | 800,000 | 884,045 | |||||
Iliad Holding SASU |
||||||||
5.13%, 10/15/2026 (c) |
EUR | 111,000 | 123,909 | |||||
5.63%, 10/15/2028 (c) |
EUR | 784,000 | 864,828 | |||||
La Financiere Atalian SASU |
||||||||
4.00%, 5/15/2024 (a) |
EUR | 350,000 | 360,485 | |||||
5.13%, 5/15/2025 (a) |
EUR | 100,000 | 101,659 | |||||
Loxam SAS |
||||||||
2.88%, 4/15/2026 (a) |
EUR | 300,000 | 318,850 | |||||
4.50%, 2/15/2027 (c) |
EUR | 288,000 | 319,691 | |||||
Lune Holdings SARL 5.63%, 11/15/2028 (c) |
EUR | 375,000 | 387,193 | |||||
Orange SA |
||||||||
(EUR Swap Annual 5 Year + 2.36%), 2.38%, 1/15/2025 (a) (d) (e) (f) |
EUR | 200,000 | 225,287 | |||||
(EUR Swap Annual 5 Year + 3.99%), 5.00%, 10/1/2026 (a) (d) (e) (f) |
EUR | 400,000 | 496,714 | |||||
(EURIBOR ICE Swap Rate 5 Year + 2.18%), 1.75%, 12/19/2026 (a) (d) (e) (f) |
EUR | 200,000 | 214,764 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 109 |
JPMorgan International Bond Opportunities ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
France — continued |
| |||||||
Orano SA 3.13%, 3/20/2023 (a) |
EUR | 800,000 | 909,292 | |||||
Paprec Holding SA |
||||||||
4.00%, 3/31/2025 (a) |
EUR | 100,000 | 111,610 | |||||
3.50%, 7/1/2028 (a) |
EUR | 150,000 | 156,625 | |||||
3.50%, 7/1/2028 (c) |
EUR | 223,000 | 232,849 | |||||
Parts Europe SA 6.50%, 7/16/2025 (a) |
EUR | 400,000 | 459,960 | |||||
Quatrim SASU 5.88%, 1/15/2024 (a) |
EUR | 500,000 | 553,864 | |||||
Renault SA |
||||||||
1.25%, 6/24/2025 (a) |
EUR | 500,000 | 527,122 | |||||
2.00%, 9/28/2026 (a) |
EUR | 800,000 | 838,681 | |||||
1.13%, 10/4/2027 (a) |
EUR | 100,000 | 96,898 | |||||
Societe Generale SA |
||||||||
(USD ICE Swap Rate 5 Year + 5.87%), 8.00%, 9/29/2025 (c) (d) (e) (f) |
200,000 | 217,402 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.51%), 5.38%, 11/18/2030 (c) (d) (e) (f) |
1,325,000 | 1,245,500 | ||||||
(EUR Swap Annual 5 Year + 1.55%), 1.00%, 11/24/2030 (d) |
EUR | 1,100,000 | 1,181,107 | |||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.00%), 3.65%, 7/8/2035 (c) (d) |
200,000 | 192,305 | ||||||
SPIE SA |
||||||||
3.13%, 3/22/2024 (a) |
EUR | 200,000 | 228,192 | |||||
2.63%, 6/18/2026 (a) |
EUR | 500,000 | 557,728 | |||||
TotalEnergies Capital International SA 3.13%, 5/29/2050 |
50,000 | 46,204 | ||||||
TotalEnergies SE |
||||||||
(EUR Swap Annual 5 Year + 3.78%), 3.88%, 5/18/2022 (a) (d) (e) (f) |
EUR | 100,000 | 112,723 | |||||
(EUR Swap Annual 5 Year + 1.77%), 1.75%, 4/4/2024 (a) (d) (e) (f) |
EUR | 850,000 | 943,109 | |||||
Valeo 3.25%, 1/22/2024 (a) |
EUR | 800,000 | 934,297 | |||||
Vallourec SA 8.50%, 6/30/2026 (a) |
EUR | 500,000 | 566,884 | |||||
|
|
|||||||
26,791,662 | ||||||||
|
|
|||||||
Germany — 6.8% |
| |||||||
Adler Pelzer Holding GmbH 4.13%, 4/1/2024 (a) |
EUR | 600,000 | 600,707 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Germany — continued |
| |||||||
Bertelsmann SE & Co. KGaA (EUR Swap Annual 5 Year + 2.64%), 3.00%, 4/23/2075 (a) (d) |
EUR | 200,000 | 225,371 | |||||
BK LC Lux Finco1 SARL 5.25%, 4/30/2029 (a) |
EUR | 850,000 | 924,631 | |||||
CeramTec BondCo GmbH 5.25%, 12/15/2025 (a) |
EUR | 100,000 | 113,213 | |||||
Cheplapharm Arzneimittel GmbH 4.38%, 1/15/2028 (a) |
EUR | 650,000 | 704,912 | |||||
Commerzbank AG |
||||||||
(EUR Swap Annual 5 Year + 6.74%), 6.50%, 10/9/2029 (a) (d) (e) (f) |
EUR | 200,000 | 234,131 | |||||
(EUR Swap Annual 5 Year + 4.35%), 4.00%, 12/5/2030 (a) (d) |
EUR | 500,000 | 580,660 | |||||
CT Investment GmbH |
||||||||
5.50%, 4/15/2026 (a) |
EUR | 350,000 | 376,387 | |||||
5.50%, 4/15/2026 (c) |
EUR | 106,000 | 113,991 | |||||
Deutsche Bank AG (SOFR + 2.16%), 2.22%, 9/18/2024 (d) |
1,075,000 | 1,072,450 | ||||||
(SOFR + 2.26%), 3.74%, 1/7/2033 (d) |
450,000 | 421,200 | ||||||
Deutsche Lufthansa AG |
||||||||
2.00%, 7/14/2024 (a) |
EUR | 400,000 | 440,777 | |||||
2.88%, 2/11/2025 (a) |
EUR | 1,000,000 | 1,101,628 | |||||
3.00%, 5/29/2026 (a) |
EUR | 300,000 | 326,372 | |||||
Douglas GmbH |
||||||||
6.00%, 4/8/2026 (c) |
EUR | 550,000 | 592,723 | |||||
6.00%, 4/8/2026 (a) |
EUR | 350,000 | 377,187 | |||||
Hapag-Lloyd AG 2.50%, 4/15/2028 (a) |
EUR | 500,000 | 544,463 | |||||
IHO Verwaltungs GmbH |
||||||||
3.75% (cash), 9/15/2026 (a) (g) |
EUR | 125,000 | 138,399 | |||||
3.88% (cash), 5/15/2027 (a) (g) (h) |
EUR | 500,000 | 554,738 | |||||
Kirk Beauty SUN GmbH 9.00% (PIK), 10/1/2026 (c) (g) (h) |
EUR | 261,687 | 258,148 | |||||
Nidda BondCo GmbH 5.00%, 9/30/2025 (a) |
EUR | 675,000 | 678,889 | |||||
Nidda Healthcare Holding GmbH 3.50%, 9/30/2024 (a) |
EUR | 525,000 | 545,972 | |||||
ProGroup AG 3.00%, 3/31/2026 (a) |
EUR | 200,000 | 216,027 | |||||
Renk AG |
||||||||
5.75%, 7/15/2025 (a) |
EUR | 300,000 | 338,225 | |||||
5.75%, 7/15/2025 (c) |
EUR | 100,000 | 112,742 |
SEE NOTES TO FINANCIAL STATEMENTS.
110 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Germany — continued |
| |||||||
Schaeffler AG |
||||||||
2.88%, 3/26/2027 (a) |
EUR | 450,000 | 505,203 | |||||
3.38%, 10/12/2028 (a) |
EUR | 500,000 | 567,089 | |||||
Techem Verwaltungsgesellschaft 674 mbH 6.00%, 7/30/2026 (a) |
EUR | 219,799 | 247,897 | |||||
Techem Verwaltungsgesellschaft 675 mbH 2.00%, 7/15/2025 (a) |
EUR | 1,100,000 | 1,178,120 | |||||
thyssenkrupp AG |
||||||||
1.88%, 3/6/2023 (a) |
EUR | 150,000 | 168,188 | |||||
2.88%, 2/22/2024 (a) |
EUR | 500,000 | 562,172 | |||||
2.50%, 2/25/2025 (a) |
EUR | 100,000 | 111,856 | |||||
TK Elevator Holdco GmbH 6.63%, 7/15/2028 (a) |
EUR | 270,000 | 301,312 | |||||
TK Elevator Midco GmbH 4.38%, 7/15/2027 (a) |
EUR | 500,000 | 557,509 | |||||
Traton Finance Luxembourg SA 0.75%, 3/24/2029 (a) |
EUR | 200,000 | 211,387 | |||||
TUI Cruises GmbH 6.50%, 5/15/2026 (a) |
EUR | 350,000 | 379,683 | |||||
Vantage Towers AG 0.38%, 3/31/2027 (a) |
EUR | 300,000 | 317,504 | |||||
Volkswagen International Finance NV |
||||||||
(EUR Swap Annual 10 Year + 3.35%), 5.13%, 9/4/2023 (a) (d) (e) (f) |
EUR | 53,000 | 62,105 | |||||
(EUR Swap Annual 5 Year + 3.75%), 3.50%, 6/17/2025 (a) (d) (e) (f) |
EUR | 100,000 | 113,972 | |||||
(EUR Swap Annual 12 Year + 2.97%), 4.62%, 3/24/2026 (a) (d) (e) (f) |
EUR | 600,000 | 709,751 | |||||
(EUR Swap Annual 10 Year + 3.98%), 4.62%, 6/27/2028 (a) (d) (e) (f) |
EUR | 600,000 | 704,407 | |||||
3.25%, 11/18/2030 (a) |
EUR | 600,000 | 756,568 | |||||
Vonovia Finance BV 2.25%, 4/7/2030 (a) |
EUR | 500,000 | 573,018 | |||||
WEPA Hygieneprodukte GmbH 2.88%, 12/15/2027 (a) |
EUR | 250,000 | 244,183 | |||||
ZF Europe Finance BV |
||||||||
2.00%, 2/23/2026 (a) |
EUR | 900,000 | 946,055 | |||||
2.50%, 10/23/2027 (a) |
EUR | 300,000 | 309,872 | |||||
ZF Finance GmbH |
||||||||
2.25%, 5/3/2028 (a) |
EUR | 200,000 | 204,628 | |||||
3.75%, 9/21/2028 (a) |
EUR | 600,000 | 651,927 | |||||
|
|
|||||||
21,978,349 | ||||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Greece — 0.3% |
| |||||||
Alpha Bank SA 2.50%, 2/5/2023 (a) |
EUR | 780,000 | 890,980 | |||||
|
|
|||||||
India — 0.2% |
| |||||||
Greenko Dutch BV 3.85%, 3/29/2026 (c) |
197,000 | 191,090 | ||||||
Greenko Power II Ltd. 4.30%, 12/13/2028 (c) |
425,000 | 402,348 | ||||||
NTPC Ltd. 3.75%, 4/3/2024 (a) |
200,000 | 204,162 | ||||||
|
|
|||||||
797,600 | ||||||||
|
|
|||||||
Indonesia — 0.3% |
| |||||||
Indonesia Asahan Aluminium Persero PT 5.45%, 5/15/2030 (c) |
200,000 | 211,037 | ||||||
Pertamina Persero PT 3.65%, 7/30/2029 (c) |
400,000 | 399,520 | ||||||
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara |
||||||||
4.13%, 5/15/2027 (a) |
200,000 | 204,135 | ||||||
4.38%, 2/5/2050 (a) |
320,000 | 287,560 | ||||||
|
|
|||||||
1,102,252 | ||||||||
|
|
|||||||
Ireland — 1.1% |
| |||||||
AerCap Ireland Capital DAC |
||||||||
4.63%, 7/1/2022 |
330,000 | 333,690 | ||||||
3.00%, 10/29/2028 |
185,000 | 178,186 | ||||||
3.30%, 1/30/2032 |
205,000 | 194,622 | ||||||
AIB Group plc (EUR Swap Annual 5 Year + 2.15%), 1.88%, 11/19/2029 (a) (d) |
EUR | 750,000 | 828,472 | |||||
Avolon Holdings Funding Ltd. |
||||||||
3.95%, 7/1/2024 (c) |
126,000 | 128,912 | ||||||
2.13%, 2/21/2026 (c) |
440,000 | 425,320 | ||||||
4.25%, 4/15/2026 (c) |
140,000 | 143,876 | ||||||
4.38%, 5/1/2026 (c) |
60,000 | 61,786 | ||||||
Bank of Ireland Group plc (EUR Swap Annual 5 Year + 7.92%), 7.50%, 5/19/2025 (a) (d) (e) (f) |
EUR | 300,000 | 366,228 | |||||
eircom Finance DAC 3.50%, 5/15/2026 (a) |
EUR | 800,000 | 862,815 | |||||
|
|
|||||||
3,523,907 | ||||||||
|
|
|||||||
Israel — 0.2% |
| |||||||
Energean Israel Finance Ltd. |
||||||||
4.88%, 3/30/2026 (a) |
156,000 | 148,200 | ||||||
5.38%, 3/30/2028 (a) |
150,475 | 140,837 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 111 |
JPMorgan International Bond Opportunities ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Israel — continued |
| |||||||
Leviathan Bond Ltd. |
||||||||
6.13%, 6/30/2025 (a) |
200,000 | 202,725 | ||||||
6.50%, 6/30/2027 (a) |
165,554 | 168,567 | ||||||
|
|
|||||||
660,329 | ||||||||
|
|
|||||||
Italy — 5.2% |
| |||||||
Assicurazioni Generali SpA 2.43%, 7/14/2031 (a) |
EUR | 200,000 | 213,088 | |||||
(EURIBOR 3 Month + 5.35%), 5.50%, 10/27/2047 (a) (d) |
EUR | 200,000 | 248,912 | |||||
Atlantia SpA |
||||||||
1.63%, 2/3/2025 (a) |
EUR | 300,000 | 328,324 | |||||
1.88%, 7/13/2027 (a) |
EUR | 200,000 | 213,025 | |||||
1.88%, 2/12/2028 (a) |
EUR | 400,000 | 418,226 | |||||
Autostrade per l’Italia SpA |
||||||||
1.63%, 6/12/2023 |
EUR | 200,000 | 224,896 | |||||
1.75%, 2/1/2027 (a) |
EUR | 1,550,000 | 1,672,765 | |||||
2.00%, 12/4/2028 (a) |
EUR | 700,000 | 748,556 | |||||
1.88%, 9/26/2029 (a) |
EUR | 100,000 | 103,328 | |||||
Brunello Bidco SpA 3.50%, 2/15/2028 (a) |
EUR | 300,000 | 313,670 | |||||
Enel Finance International NV 3.50%, 4/6/2028 (c) |
200,000 | 206,209 | ||||||
Enel
SpA Series 63.5, |
EUR | 800,000 | 909,339 | |||||
Eni SpA 4.25%, 5/9/2029 (c) |
250,000 | 265,660 | ||||||
Gamma Bidco SpA |
||||||||
5.13%, 7/15/2025 (a) |
EUR | 450,000 | 491,948 | |||||
5.13%, 7/15/2025 (c) |
EUR | 132,000 | 144,305 | |||||
Guala Closures SpA |
||||||||
3.25%, 6/15/2028 (c) |
EUR | 284,000 | 285,827 | |||||
3.25%, 6/15/2028 (a) |
EUR | 100,000 | 100,644 | |||||
Infrastrutture Wireless Italiane SpA 1.88%, 7/8/2026 (a) |
EUR | 300,000 | 337,122 | |||||
Intesa Sanpaolo SpA |
||||||||
(EUR Swap Annual 5 Year + 5.86%), 6.25%, 5/16/2024 (a) (d) (e) (f) |
EUR | 300,000 | 348,569 | |||||
3.93%, 9/15/2026 (a) |
EUR | 150,000 | 176,221 | |||||
(EUR Swap Annual 5 Year + 7.19%), 7.75%, 1/11/2027 (a) (d) (e) (f) |
EUR | 676,000 | 842,289 | |||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.75%), 4.95%, 6/1/2042 (c) (d) |
200,000 | 177,393 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Italy — continued |
| |||||||
Kedrion SpA |
||||||||
3.38%, 5/15/2026 (a) |
EUR | 250,000 | 275,195 | |||||
3.38%, 5/15/2026 (c) |
EUR | 225,000 | 247,676 | |||||
Leonardo SpA 4.88%, 3/24/2025 |
EUR | 800,000 | 971,002 | |||||
Nexi SpA 1.63%, 4/30/2026 (a) |
EUR | 450,000 | 471,135 | |||||
Pro-Gest SpA 3.25%, 12/15/2024 (a) |
EUR | 500,000 | 515,869 | |||||
Rossini SARL 6.75%, 10/30/2025 (a) |
EUR | 300,000 | 343,523 | |||||
Saipem Finance International BV |
||||||||
2.63%, 1/7/2025 (a) |
EUR | 450,000 | 451,583 | |||||
3.38%, 7/15/2026 (a) |
EUR | 150,000 | 142,391 | |||||
Telecom Italia SpA |
||||||||
3.63%, 1/19/2024 (a) |
EUR | 100,000 | 114,416 | |||||
2.88%, 1/28/2026 (a) |
EUR | 200,000 | 220,588 | |||||
3.63%, 5/25/2026 (a) |
EUR | 825,000 | 934,378 | |||||
2.38%, 10/12/2027 (a) |
EUR | 1,350,000 | 1,408,504 | |||||
UniCredit SpA |
||||||||
(EURIBOR
ICE Swap Rate 5 Year + 7.33%), 7.50%,
|
EUR | 900,000 | 1,086,071 | |||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.20%), 1.98%, 6/3/2027 (c) (d) |
200,000 | 186,546 | ||||||
(EURIBOR ICE Swap Rate 5 Year + 4.74%), 4.87%, 2/20/2029 (a) (d) |
EUR | 200,000 | 234,610 | |||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.55%), 3.13%, 6/3/2032 (c) (d) |
200,000 | 182,330 | ||||||
Verde Bidco SpA 4.63%, 10/1/2026 (c) |
EUR | 100,000 | 109,619 | |||||
|
|
|||||||
16,665,752 | ||||||||
|
|
|||||||
Japan — 0.3% |
| |||||||
Sumitomo Mitsui Financial Group, Inc. 1.47%, 7/8/2025 |
460,000 | 443,957 | ||||||
Takeda Pharmaceutical Co. Ltd. |
||||||||
1.00%, 7/9/2029 |
EUR | 363,000 | 394,763 | |||||
3.03%, 7/9/2040 |
270,000 | 243,782 | ||||||
|
|
|||||||
1,082,502 | ||||||||
|
|
|||||||
Kazakhstan — 0.1% |
| |||||||
KazMunayGas National Co. JSC 5.75%, 4/19/2047 (a) |
380,000 | 389,500 | ||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
112 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Kuwait — 0.1% |
| |||||||
MEGlobal Canada ULC 5.00%, 5/18/2025 (c) |
200,000 | 208,900 | ||||||
|
|
|||||||
Luxembourg — 2.0% |
| |||||||
Altice Finco SA 4.75%, 1/15/2028 (a) |
EUR | 500,000 | 495,480 | |||||
Altice France Holding SA |
||||||||
8.00%, 5/15/2027 (a) |
EUR | 350,000 | 405,820 | |||||
8.00%, 5/15/2027 (c) |
EUR | 123,000 | 142,616 | |||||
ARD
Finance SA |
||||||||
5.00%
(cash), |
EUR | 100,000 | 106,799 | |||||
5.00% (cash), 6/30/2027 (c) (g) |
EUR | 100,000 | 106,799 | |||||
Herens Midco SARL |
||||||||
5.25%, 5/15/2029 (c) |
EUR | 303,000 | 287,504 | |||||
5.25%, 5/15/2029 (a) |
EUR | 300,000 | 284,657 | |||||
INEOS Finance plc |
||||||||
3.38%, 3/31/2026 (a) |
EUR | 400,000 | 440,651 | |||||
3.38%, 3/31/2026 (c) |
EUR | 147,000 | 161,940 | |||||
Matterhorn Telecom SA |
||||||||
3.13%, 9/15/2026 (a) |
EUR | 475,000 | 504,633 | |||||
3.13%, 9/15/2026 (c) |
EUR | 100,000 | 106,238 | |||||
Monitchem HoldCo 3 SA 5.25%, 3/15/2025 (a) |
EUR | 300,000 | 333,810 | |||||
PLTV II Finance SARL 4.63%, 1/5/2026 (a) |
EUR | 550,000 | 597,361 | |||||
SELP Finance SARL REIT, 0.88%, 5/27/2029 (a) |
EUR | 200,000 | 206,893 | |||||
SES SA |
||||||||
(EUR Swap Annual 5 Year + 3.19%), 2.87%, 5/27/2026 (a) (d) (e) (f) |
EUR | 500,000 | 514,373 | |||||
0.88%, 11/4/2027 (a) |
EUR | 450,000 | 482,337 | |||||
Summer BC Holdco A SARL 9.25%, 10/31/2027 (a) |
EUR | 540,632 | 626,695 | |||||
Summer BC Holdco B SARL 5.75%, 10/31/2026 (a) |
EUR | 500,000 | 563,349 | |||||
|
|
|||||||
6,367,955 | ||||||||
|
|
|||||||
Malaysia — 0.1% |
| |||||||
Petronas Capital Ltd. 3.40%, 4/28/2061 (c) |
436,000 | 386,462 | ||||||
|
|
|||||||
Mexico — 0.7% |
| |||||||
Banco Mercantil del Norte SA (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.04%), 6.87%, 7/6/2022 (c) (d) (e) (f) |
200,000 | 197,650 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mexico — continued |
| |||||||
BBVA Bancomer SA (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.65%), 5.12%, 1/18/2033 (c) (d) |
200,000 | 191,050 | ||||||
Cemex
SAB de CV |
||||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.53%), 5.12%, 6/8/2026 (c) (d) (e) (f) |
488,000 | 466,040 | ||||||
3.88%, 7/11/2031 (c) |
377,000 | 335,530 | ||||||
Fomento Economico Mexicano SAB de CV 3.50%, 1/16/2050 |
150,000 | 139,312 | ||||||
Petroleos Mexicanos |
||||||||
6.75%, 9/21/2047 |
825,000 | 679,305 | ||||||
6.95%, 1/28/2060 |
510,000 | 421,056 | ||||||
|
|
|||||||
2,429,943 | ||||||||
|
|
|||||||
Morocco — 0.1% |
| |||||||
OCP SA 6.88%, 4/25/2044 (a) |
200,000 | 201,788 | ||||||
|
|
|||||||
Netherlands — 2.7% |
| |||||||
ABN
AMRO Bank NV |
200,000 | 210,400 | ||||||
(EUR Swap Annual 5 Year + 4.67%), 4.37%, 9/22/2025 (a) (d) (e) (f) |
EUR | 800,000 | 894,829 | |||||
4.80%, 4/18/2026 (c) |
200,000 | 212,952 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.90%), 3.32%, 3/13/2037 (c) (d) |
400,000 | 373,683 | ||||||
Cooperatieve Rabobank UA |
||||||||
(EUR Swap Annual 5 Year + 3.70%), 3.25%, 12/29/2026 (a) (d) (e) (f) |
EUR | 200,000 | 210,346 | |||||
(EUR Swap Annual 5 Year + 4.68%), 4.37%, 6/29/2027 (a) (d) (e) (f) |
EUR | 600,000 | 686,138 | |||||
ING
Groep NV |
||||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.86%), 3.88%, 5/16/2027 (d) (e) (f) |
295,000 | 260,706 | ||||||
(EUR Swap Annual 5 Year + 2.85%), 3.00%, 4/11/2028 (d) |
EUR | 400,000 | 459,381 | |||||
(EUR Swap Annual 5 Year + 1.20%), 1.00%, 11/13/2030 (a) (d) |
EUR | 300,000 | 324,817 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 113 |
JPMorgan International Bond Opportunities ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Netherlands — continued |
| |||||||
Nobel Bidco BV |
||||||||
3.13%, 6/15/2028 (a) |
EUR | 400,000 | 404,771 | |||||
3.13%, 6/15/2028 (c) |
EUR | 136,000 | 137,622 | |||||
OCI NV 3.63%, 10/15/2025 (c) |
EUR | 106,200 | 119,883 | |||||
Q-Park Holding I BV 2.00%, 3/1/2027 (a) |
EUR | 500,000 | 492,773 | |||||
Sigma Holdco BV 5.75%, 5/15/2026 (a) |
EUR | 725,000 | 681,734 | |||||
Sunshine Mid BV 6.50%, 5/15/2026 (a) |
EUR | 600,000 | 675,206 | |||||
Titan Holdings II BV |
||||||||
5.13%, 7/15/2029 (a) |
EUR | 200,000 | 204,348 | |||||
5.13%, 7/15/2029 (c) |
EUR | 168,000 | 171,652 | |||||
Trivium Packaging Finance BV 3.75%, 8/15/2026 (a) (b) |
EUR | 500,000 | 535,453 | |||||
UPC Holding BV 3.88%, 6/15/2029 (a) |
EUR | 400,000 | 431,681 | |||||
Ziggo Bond Co. BV 3.38%, 2/28/2030 (a) |
EUR | 1,100,000 | 1,098,575 | |||||
|
|
|||||||
8,586,950 | ||||||||
|
|
|||||||
Peru — 0.1% |
| |||||||
Southern Copper Corp. 5.88%, 4/23/2045 |
140,000 | 173,415 | ||||||
|
|
|||||||
Portugal — 0.6% |
| |||||||
EDP — Energias de Portugal SA (EUR Swap Annual 5 Year + 1.84%), 1.70%, 7/20/2080 (a) (d) |
EUR | 1,000,000 | 1,058,577 | |||||
EDP Finance BV |
||||||||
3.63%, 7/15/2024 (c) |
675,000 | 691,544 | ||||||
1.50%, 11/22/2027 (a) |
EUR | 200,000 | 228,031 | |||||
|
|
|||||||
1,978,152 | ||||||||
|
|
|||||||
Spain — 5.1% |
| |||||||
Abertis Infraestructuras Finance BV |
||||||||
(EUR Swap Annual 5 Year + 3.69%), 3.25%, 11/24/2025 (a) (d) (e) (f) |
EUR | 600,000 | 647,065 | |||||
(EUR Swap Annual 5 Year + 3.27%), 2.62%, 1/26/2027 (a) (d) (e) (f) |
EUR | 100,000 | 101,810 | |||||
Banco Bilbao Vizcaya Argentaria SA |
||||||||
(EUR Swap Annual 5 Year + 6.04%), 6.00%, 3/29/2024 (a) (d) (e) (f) |
EUR | 400,000 | 459,101 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Spain — continued |
| |||||||
(EUR Swap Annual 5 Year + 6.46%), 6.00%, 1/15/2026 (a) (d) (e) (f) |
EUR | 600,000 | 694,219 | |||||
Banco de Sabadell SA (EUR Swap Annual 1 Year + 0.97%), 0.63%, 11/7/2025 (a) (d) |
EUR | 300,000 | 330,546 | |||||
Banco Santander SA 2.13%, 2/8/2028 (a) |
EUR | 200,000 | 222,528 | |||||
CaixaBank SA |
||||||||
(EUR Swap Annual 5 Year + 6.22%), 6.37%, 9/19/2023 (a) (d) (e) (f) |
EUR | 400,000 | 465,040 | |||||
(EUR Swap Annual 5 Year + 6.50%), 6.75%, 6/13/2024 (a) (d) (e) (f) |
EUR | 600,000 | 712,255 | |||||
(EUR Swap Annual 5 Year + 3.62%), 3.75%, 2/15/2029 (a) (d) |
EUR | 800,000 | 928,851 | |||||
Cellnex Telecom SA |
||||||||
2.88%, 4/18/2025 (a) |
EUR | 1,300,000 | 1,516,916 | |||||
1.00%, 4/20/2027 (a) |
EUR | 100,000 | 104,047 | |||||
1.88%, 6/26/2029 |
EUR | 400,000 | 409,031 | |||||
Cirsa Finance International SARL 4.75%, 5/22/2025 (a) |
EUR | 750,000 | 816,676 | |||||
ContourGlobal Power Holdings SA |
||||||||
4.13%, 8/1/2025 (a) |
EUR | 400,000 | 443,954 | |||||
3.13%, 1/1/2028 (c) |
EUR | 100,000 | 100,974 | |||||
eDreams ODIGEO SA 5.50%, 7/15/2027 (c) |
EUR | 307,000 | 337,339 | |||||
Grifols Escrow Issuer SA 3.88%, 10/15/2028 (a) |
EUR | 300,000 | 308,405 | |||||
Grifols SA |
||||||||
1.63%, 2/15/2025 (c) |
EUR | 100,000 | 106,688 | |||||
2.25%, 11/15/2027 (a) |
EUR | 900,000 | 938,890 | |||||
2.25%, 11/15/2027 (c) |
EUR | 100,000 | 104,321 | |||||
Grupo Antolin-Irausa SA |
||||||||
3.38%, 4/30/2026 (a) |
EUR | 200,000 | 205,032 | |||||
3.50%, 4/30/2028 (c) |
EUR | 225,000 | 218,223 | |||||
Iberdrola International BV (EUR Swap Annual 5 Year + 2.06%), 2.62%, 3/26/2024 (a) (d) (e) (f) |
EUR | 800,000 | 911,424 | |||||
Kaixo Bondco Telecom SA |
||||||||
5.13%, 9/30/2029 (a) |
EUR | 150,000 | 155,681 | |||||
5.13%, 9/30/2029 (c) |
EUR | 142,000 | 147,378 | |||||
Lorca Telecom Bondco SA |
||||||||
4.00%, 9/18/2027 (a) |
EUR | 600,000 | 643,337 | |||||
4.00%, 9/18/2027 (c) |
EUR | 466,000 | 499,659 |
SEE NOTES TO FINANCIAL STATEMENTS.
114 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Spain — continued |
| |||||||
Naturgy Finance BV (EUR Swap Annual 9 Year + 3.08%), 3.38%, 4/24/2024 (a) (d) (e) (f) |
EUR | 200,000 | 224,683 | |||||
Repsol International Finance BV (EUR Swap Annual 10 Year + 4.20%), 4.50%, 3/25/2075 (a) (d) |
EUR | 1,300,000 | 1,501,354 | |||||
Telefonica Emisiones SA 5.21%, 3/8/2047 |
150,000 | 163,063 | ||||||
Telefonica Europe BV |
||||||||
(EUR Swap Annual 5 Year + 2.33%), 2.62%, 3/7/2023 (a) (d) (e) (f) |
EUR | 100,000 | 112,826 | |||||
Series NC5, (EUR Swap Annual 5 Year + 2.45%), 3.00%, 9/4/2023 (a) (d) (e) (f) |
EUR | 900,000 | 1,015,432 | |||||
(EUR Swap Annual 8 Year + 2.97%), 3.88%, 6/22/2026 (a) (d) (e) (f) |
EUR | 900,000 | 1,004,079 | |||||
|
|
|||||||
16,550,827 | ||||||||
|
|
|||||||
Sweden — 1.0% |
| |||||||
Dometic Group AB 3.00%, 5/8/2026 (a) |
EUR | 450,000 | 507,085 | |||||
Svenska Handelsbanken AB (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.05%), 4.75%, 3/1/2031 (a) (d) (e) (f) |
200,000 | 195,794 | ||||||
Verisure Holding AB |
||||||||
3.88%, 7/15/2026 (a) |
EUR | 275,000 | 301,021 | |||||
3.25%, 2/15/2027 (a) |
EUR | 1,050,000 | 1,103,730 | |||||
Verisure Midholding AB 5.25%, 2/15/2029 (c) |
EUR | 219,000 | 230,582 | |||||
Volvo Car AB |
||||||||
2.00%, 1/24/2025 (a) |
EUR | 600,000 | 667,761 | |||||
2.50%, 10/7/2027 (a) |
EUR | 100,000 | 112,686 | |||||
|
|
|||||||
3,118,659 | ||||||||
|
|
|||||||
Switzerland — 1.7% |
| |||||||
Argentum Netherlands for Zurich Insurance Co. Ltd. (EURIBOR 3 Month + 3.95%), 3.50%, 10/1/2046 (a) (d) |
EUR | 700,000 | 838,629 | |||||
Credit Suisse Group AG |
||||||||
(USD Swap Semi 5 Year + 4.60%), 7.50%, 12/11/2023 (c) (d) (e) (f) |
450,000 | 471,375 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Switzerland — continued |
| |||||||
(US
Treasury Yield Curve Rate T Note Constant Maturity 5 Year +
4.89%), 5.25%, |
620,000 | 589,589 | ||||||
4.28%, 1/9/2028 (c) |
550,000 | 571,999 | ||||||
(EUR Swap Annual 1 Year + 0.77%), 0.65%, 1/14/2028 (a) (d) |
EUR | 100,000 | 105,708 | |||||
(SOFR + 3.73%), 4.19%, 4/1/2031 (c) (d) |
274,000 | 284,562 | ||||||
(SOFR + 1.73%), 3.09%, 5/14/2032 (c) (d) |
561,000 | 531,954 | ||||||
Dufry One BV 2.50%, 10/15/2024 (a) |
EUR | 400,000 | 434,596 | |||||
Kongsberg Actuation Systems BV 5.00%, 7/15/2025 (a) |
EUR | 300,000 | 330,075 | |||||
Swiss Re Finance Luxembourg SA (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.58%), 5.00%, 4/2/2049 (c) (d) |
200,000 | 211,758 | ||||||
UBS Group AG |
||||||||
(USD Swap Semi 5 Year + 4.87%), 7.00%, 2/19/2025 (a) (d) (e) (f) |
200,000 | 212,500 | ||||||
(USD Swap Semi 5 Year + 4.59%), 6.87%, 8/7/2025 (a) (d) (e) (f) |
200,000 | 210,500 | ||||||
(US
Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.86%),
5.12%, |
300,000 | 299,707 | ||||||
(EUR Swap Annual 1 Year + 0.77%), 0.25%, 11/5/2028 (a) (d) |
EUR | 300,000 | 314,521 | |||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%), 2.09%, 2/11/2032 (c) (d) |
280,000 | 254,724 | ||||||
|
|
|||||||
5,662,197 | ||||||||
|
|
|||||||
Taiwan — 0.1% |
| |||||||
Competition Team Technologies Ltd. 3.75%, 3/12/2024 (a) |
200,000 | 205,913 | ||||||
|
|
|||||||
United Kingdom — 8.1% |
| |||||||
AstraZeneca plc 0.38%, 6/3/2029 (a) |
EUR | 700,000 | 738,120 | |||||
Barclays plc (U.K. Government Bonds 5 Year Note Generic Bid Yield + 6.02%), 6.37%, 12/15/2025 (a) (d) (e) (f) |
GBP | 400,000 | 545,320 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 115 |
JPMorgan International Bond Opportunities ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
United Kingdom — continued |
| |||||||
BP Capital Markets plc (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.04%), 4.38%, 6/22/2025 (d) (e) (f) |
204,000 | 204,000 | ||||||
(EUR Swap Annual 5 Year + 3.88%), 3.25%, 3/22/2026 (a) (d) (e) (f) |
EUR | 600,000 | 666,023 | |||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.40%), 4.88%, 3/22/2030 (d) (e) (f) |
94,000 | 93,163 | ||||||
British Telecommunications plc (EURIBOR ICE Swap Rate 5 Year + 2.13%), 1.87%, 8/18/2080 (a) (d) |
EUR | 100,000 | 105,075 | |||||
Centrica plc 4.38%, 3/13/2029 (a) |
GBP | 200,000 | 295,425 | |||||
CK Hutchison Group Telecom Finance SA 1.13%, 10/17/2028 (a) |
EUR | 850,000 | 912,609 | |||||
Constellation Automotive Financing plc |
||||||||
4.88%, 7/15/2027 (c) |
GBP | 169,000 | 207,783 | |||||
4.88%, 7/15/2027 (a) |
GBP | 100,000 | 122,948 | |||||
CPUK Finance Ltd. 4.50%, 8/28/2027 (a) |
GBP | 400,000 | 524,697 | |||||
EC Finance plc |
||||||||
3.00%, 10/15/2026 (a) |
EUR | 200,000 | 221,317 | |||||
3.00%, 10/15/2026 (c) |
EUR | 199,000 | 220,211 | |||||
eG Global Finance plc 4.38%, 2/7/2025 (a) |
EUR | 700,000 | 749,618 | |||||
Eversholt Funding plc 2.74%, 6/30/2040 (a) |
GBP | 758,976 | 996,357 | |||||
Heathrow Funding Ltd. |
||||||||
6.75%, 12/3/2026 (a) |
GBP | 300,000 | 476,308 | |||||
1.50%, 2/11/2030 (a) |
EUR | 300,000 | 326,142 | |||||
1.88%, 3/14/2034 (a) |
EUR | 250,000 | 270,698 | |||||
5.88%, 5/13/2041 (a) |
GBP | 100,000 | 175,841 | |||||
HSBC Holdings plc |
||||||||
(SOFR + 1.54%), 1.64%, 4/18/2026 (d) |
490,000 | 472,361 | ||||||
5.75%, 12/20/2027 (a) |
GBP | 200,000 | 300,271 | |||||
(SOFR + 1.73%), 2.01%, 9/22/2028 (d) |
520,000 | 487,903 | ||||||
(ICE LIBOR USD 3 Month + 1.61%), 3.97%, 5/22/2030 (d) |
250,000 | 257,904 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
United Kingdom — continued |
| |||||||
Iceland Bondco plc 4.63%, 3/15/2025 (a) |
GBP | 500,000 | 605,541 | |||||
INEOS Quattro Finance 1 plc 3.75%, 7/15/2026 (a) |
EUR | 500,000 | 526,576 | |||||
INEOS Quattro Finance 2 plc 2.50%, 1/15/2026 (c) |
EUR | 200,000 | 212,727 | |||||
INEOS Styrolution Group GmbH 2.25%, 1/16/2027 (a) |
EUR | 300,000 | 308,136 | |||||
International Consolidated Airlines Group SA 1.50%, 7/4/2027 (a) |
EUR | 300,000 | 293,487 | |||||
Jaguar Land Rover Automotive plc |
||||||||
2.20%, 1/15/2024 (a) |
EUR | 400,000 | 435,861 | |||||
4.50%, 1/15/2026 (a) |
EUR | 475,000 | 524,334 | |||||
6.88%, 11/15/2026 (a) |
EUR | 200,000 | 238,266 | |||||
Lloyds Banking Group plc |
||||||||
(USD Swap Semi 5 Year + 4.76%), 7.50%, 6/27/2024 (d) (e) (f) |
200,000 | 211,250 | ||||||
(EURIBOR
ICE Swap Rate 5 Year + 5.29%), 4.95%,
|
EUR | 300,000 | 346,823 | |||||
4.58%, 12/10/2025 |
200,000 | 210,159 | ||||||
Motion Finco SARL 7.00%, 5/15/2025 (a) |
EUR | 250,000 | 286,648 | |||||
Nationwide Building Society (U.K. Government Bonds 5 Year Note Generic Bid Yield + 5.63%), 5.75%, 6/20/2027 (a) (d) (e) (f) |
GBP | 750,000 | 1,002,352 | |||||
NatWest Group plc |
||||||||
(ICE LIBOR USD 3 Month + 1.48%), 3.50%, 5/15/2023 (d) |
235,000 | 235,794 | ||||||
(ICE LIBOR USD 3 Month + 1.76%), 4.27%, 3/22/2025 (d) |
780,000 | 806,565 | ||||||
(U.K. Government Bonds 5 Year Note Generic Bid Yield + 4.99%), 5.13%, 5/12/2027 (d) (e) (f) |
GBP | 884,000 | 1,154,757 | |||||
(EURIBOR 3 Month + 0.89%), 0.67%, 9/14/2029 (a) (d) |
EUR | 500,000 | 517,255 | |||||
NGG Finance plc (EUR Swap Annual 5 Year + 2.53%), 2.13%, 9/5/2082 (a) (d) |
EUR | 730,000 | 776,564 | |||||
Pinnacle Bidco plc 5.50%, 2/15/2025 (a) |
EUR | 500,000 | 557,188 | |||||
Punch Finance plc |
||||||||
6.13%, 6/30/2026 (a) |
GBP | 300,000 | 391,934 |
SEE NOTES TO FINANCIAL STATEMENTS.
116 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
United Kingdom — continued |
| |||||||
6.13%, 6/30/2026 (c) |
GBP | 138,000 | 180,289 | |||||
RAC Bond Co. plc |
||||||||
5.25%, 11/4/2027 (c) |
GBP | 254,000 | 316,693 | |||||
5.25%, 11/4/2027 (a) |
GBP | 100,000 | 124,683 | |||||
Rolls-Royce plc 0.88%, 5/9/2024 (a) |
EUR | 400,000 | 431,771 | |||||
Santander UK Group Holdings plc |
||||||||
(GBP Swap Semi 5 Year + 6.07%), 6.75%, 6/24/2024 (a) (d) (e) (f) |
GBP | 200,000 | 275,403 | |||||
(SOFR + 0.99%), 1.67%, 6/14/2027 (d) |
400,000 | 378,100 | ||||||
SIG plc |
||||||||
5.25%, 11/30/2026 (c) |
EUR | 167,000 | 179,141 | |||||
5.25%, 11/30/2026 (a) |
EUR | 150,000 | 160,905 | |||||
Standard Chartered plc |
||||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.66%), 6.00%, 7/26/2025 (c) (d) (e) (f) |
200,000 | 204,500 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.85%), 4.64%, 4/1/2031 (c) (d) |
680,000 | 733,975 | ||||||
Synthomer plc 3.88%, 7/1/2025 (a) |
EUR | 400,000 | 449,061 | |||||
Virgin Media Finance plc 3.75%, 7/15/2030 (a) |
EUR | 725,000 | 731,570 | |||||
Vodafone Group plc |
||||||||
5.25%, 5/30/2048 |
180,000 | 206,328 | ||||||
4.88%, 6/19/2049 |
121,000 | 134,338 | ||||||
(EUR Swap Annual 5 Year + 3.43%), 4.20%, 10/3/2078 (a) (d) |
EUR | 700,000 | 791,319 | |||||
(EUR Swap Annual 5 Year + 2.67%), 3.10%, 1/3/2079 (a) (d) |
EUR | 300,000 | 337,754 | |||||
(USD Swap Semi 5 Year + 4.87%), 7.00%, 4/4/2079 (d) |
429,000 | 476,190 | ||||||
Series NC10, (EUR Swap Annual 5 Year + 3.23%), 3.00%, 8/27/2080 (a) (d) |
EUR | 625,000 | 637,402 | |||||
Wheel Bidco Ltd. |
||||||||
6.75%, 7/15/2026 (a) |
GBP | 200,000 | 252,267 | |||||
6.75%, 7/15/2026 (c) |
GBP | 100,000 | 126,133 | |||||
|
|
|||||||
26,140,133 | ||||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
United States — 6.9% |
| |||||||
Adient Global Holdings Ltd. 3.50%, 8/15/2024 (a) |
EUR | 190,000 | 210,375 | |||||
AES Corp. (The) |
||||||||
3.30%, 7/15/2025 (c) |
31,000 | 31,149 | ||||||
3.95%, 7/15/2030 (c) |
42,000 | 42,848 | ||||||
Alexander Funding Trust 1.84%, 11/15/2023 (c) |
70,000 | 69,479 | ||||||
American Airlines Pass-Through Trust Series 2021-1, Class A Shares, 2.88%, 7/11/2034 |
100,000 | 96,217 | ||||||
American
Express Co. |
104,000 | 96,200 | ||||||
Ardagh Metal Packaging Finance USA LLC |
||||||||
2.00%, 9/1/2028 (c) |
EUR | 175,000 | 177,333 | |||||
3.00%, 9/1/2029 (a) |
EUR | 150,000 | 150,275 | |||||
3.00%, 9/1/2029 (c) |
EUR | 129,000 | 129,237 | |||||
Ardagh Packaging Finance plc |
||||||||
2.13%, 8/15/2026 (a) |
EUR | 300,000 | 309,886 | |||||
2.13%, 8/15/2026 (c) |
EUR | 100,000 | 103,295 | |||||
AT&T, Inc. |
||||||||
3.50%, 9/15/2053 |
380,000 | 347,470 | ||||||
3.55%, 9/15/2055 |
99,000 | 89,772 | ||||||
Bank of America Corp. |
||||||||
Series N, (SOFR + 1.22%), 2.65%, 3/11/2032 (d) |
560,000 | 535,490 | ||||||
(SOFR + 1.32%), 2.69%, 4/22/2032 (d) |
290,000 | 278,909 | ||||||
(SOFR + 1.22%), 2.30%, 7/21/2032 (d) |
470,000 | 435,997 | ||||||
Bristol-Myers Squibb Co. 2.95%, 3/15/2032 (i) |
125,000 | 126,619 | ||||||
Capital One Financial Corp. |
||||||||
Series M, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.16%), 3.95%, 9/1/2026 (d) (e) (f) |
442,000 | 414,609 | ||||||
CCO Holdings LLC 5.13%, 5/1/2027 (c) |
140,000 | 141,400 | ||||||
CenterPoint Energy, Inc. 2.95%, 3/1/2030 |
280,000 | 274,179 | ||||||
CF Industries, Inc. 4.95%, 6/1/2043 |
224,000 | 242,715 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 117 |
JPMorgan International Bond Opportunities ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
United States — continued |
| |||||||
Charles Schwab Corp. (The) |
||||||||
Series I, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.17%), 4.00%, 6/1/2026 (d) (e) (f) |
312,000 | 301,907 | ||||||
Series H,
(US Treasury Yield Curve Rate T Note Constant Maturity 10 Year +
3.08%), 4.00%, |
320,000 | 296,182 | ||||||
Citigroup, Inc. |
||||||||
Series M, (ICE LIBOR USD 3 Month + 3.42%), 6.30%, 5/15/2024 (d) (e) (f) |
29,000 | 29,339 | ||||||
Series P, (ICE LIBOR USD 3 Month + 3.91%), 5.95%, 5/15/2025 (d) (e) (f) |
155,000 | 160,619 | ||||||
Series W,
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year +
3.60%), 4.00%, |
160,000 | 154,576 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.42%), 3.88%, 2/18/2026 (d) (e) (f) |
550,000 | 523,875 | ||||||
Series T, (ICE LIBOR USD 3 Month + 4.52%), 6.25%, 8/15/2026 (d) (e) (f) |
200,000 | 215,000 | ||||||
Series Y, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.00%), 4.15%, 11/15/2026 (d) (e) (f) |
620,000 | 591,325 | ||||||
(SOFR + 1.17%), 2.56%, 5/1/2032 (d) |
320,000 | 303,697 | ||||||
(SOFR + 1.18%), 2.52%, 11/3/2032 (d) |
140,000 | 131,848 | ||||||
Comcast Corp. 2.94%, 11/1/2056 (c) |
290,000 | 244,085 | ||||||
Constellation Energy Generation LLC 5.60%, 6/15/2042 |
210,000 | 232,614 | ||||||
Constellium SE 4.25%, 2/15/2026 (a) |
EUR | 100,000 | 111,524 | |||||
Diebold Nixdorf Dutch Holding BV 9.00%, 7/15/2025 (a) |
EUR | 250,000 | 293,599 | |||||
Discovery Communications LLC 3.63%, 5/15/2030 |
350,000 | 351,928 | ||||||
Duquesne Light Holdings, Inc. 2.78%, 1/7/2032 (c) |
140,000 | 131,787 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
United States — continued |
| |||||||
Entergy Texas, Inc. 1.75%, 3/15/2031 |
115,000 | 103,840 | ||||||
Exxon Mobil Corp. 0.52%, 6/26/2028 |
EUR | 400,000 | 432,004 | |||||
Fidelity National Information Services, Inc. 2.00%, 5/21/2030 |
EUR | 200,000 | 228,690 | |||||
Fiserv, Inc. 1.63%, 7/1/2030 |
EUR | 100,000 | 111,423 | |||||
Ford Motor Credit Co. LLC |
||||||||
3.25%, 9/15/2025 |
EUR | 150,000 | 170,617 | |||||
3.63%, 6/17/2031 |
870,000 | 836,603 | ||||||
Freeport-McMoRan, Inc. |
||||||||
5.40%, 11/14/2034 |
523,000 | 587,721 | ||||||
5.45%, 3/15/2043 |
100,000 | 115,015 | ||||||
General Electric Co. 4.13%, 9/19/2035 (a) |
EUR | 100,000 | 133,114 | |||||
General Motors Co. 6.13%, 10/1/2025 |
21,000 | 23,237 | ||||||
General Motors Financial Co., Inc. 2.75%, 6/20/2025 |
39,000 | 38,989 | ||||||
Gilead Sciences, Inc. 2.80%, 10/1/2050 |
85,000 | 71,877 | ||||||
Global Payments, Inc. 2.90%, 11/15/2031 |
265,000 | 252,676 | ||||||
Goldman Sachs Group, Inc. (The) |
||||||||
Series T,
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year +
2.97%), 3.80%, |
115,000 | 108,962 | ||||||
(SOFR + 0.91%), 1.95%, 10/21/2027 (d) |
355,000 | 340,143 | ||||||
(SOFR + 1.28%), 2.62%, 4/22/2032 (d) |
290,000 | 274,180 | ||||||
(SOFR + 1.25%), 2.38%, 7/21/2032 (d) |
190,000 | 176,124 | ||||||
(SOFR + 1.26%), 2.65%, 10/21/2032 (d) |
300,000 | 284,488 | ||||||
Gray Oak Pipeline LLC 2.60%, 10/15/2025 (c) |
50,000 | 49,440 | ||||||
HCA, Inc. |
||||||||
5.88%, 2/15/2026 |
185,000 | 199,939 | ||||||
3.50%, 9/1/2030 |
635,000 | 628,650 | ||||||
2.38%, 7/15/2031 |
370,000 | 340,206 | ||||||
5.25%, 6/15/2049 |
120,000 | 136,503 | ||||||
3.50%, 7/15/2051 |
150,000 | 133,362 | ||||||
Hyundai Capital America |
||||||||
3.50%, 11/2/2026 (c) |
555,000 | 566,635 |
SEE NOTES TO FINANCIAL STATEMENTS.
118 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
United States — continued |
| |||||||
3.50%, 11/2/2026 (a) |
150,000 | 153,145 | ||||||
International Game Technology plc |
||||||||
3.50%, 6/15/2026 (a) |
EUR | 400,000 | 444,803 | |||||
2.38%, 4/15/2028 (a) |
EUR | 350,000 | 361,163 | |||||
IQVIA, Inc. 2.25%, 1/15/2028 (a) |
EUR | 150,000 | 156,498 | |||||
Kansas City Southern 3.50%, 5/1/2050 |
90,000 | 85,940 | ||||||
Lear Corp. |
||||||||
2.60%, 1/15/2032 |
15,000 | 13,900 | ||||||
3.55%, 1/15/2052 |
120,000 | 102,536 | ||||||
LKQ Italia Bondco SpA 3.88%, 4/1/2024 (a) |
EUR | 200,000 | 232,774 | |||||
Morgan Stanley |
||||||||
(SOFR + 0.95%), 1.00%, 2/18/2026 (d) |
235,000 | 234,551 | ||||||
(SOFR + 0.88%), 1.59%, 5/4/2027 (d) |
690,000 | 656,213 | ||||||
(SOFR + 1.18%), 2.24%, 7/21/2032 (d) |
220,000 | 202,544 | ||||||
(SOFR + 1.20%), 2.51%, 10/20/2032 (d) |
370,000 | 349,348 | ||||||
Netflix, Inc. |
||||||||
3.88%, 11/15/2029 (a) |
EUR | 300,000 | 367,581 | |||||
5.38%, 11/15/2029 (c) |
357,000 | 398,725 | ||||||
Novelis Sheet Ingot GmbH |
||||||||
3.38%, 4/15/2029 (a) |
EUR | 250,000 | 263,129 | |||||
3.38%, 4/15/2029 (c) |
EUR | 100,000 | 105,252 | |||||
Pacific Gas and Electric Co. 3.30%, 3/15/2027 |
366,000 | 361,662 | ||||||
Par Pharmaceutical, Inc. 7.50%, 4/1/2027 (c) |
9,000 | 9,015 | ||||||
Paysafe Finance plc 3.00%, 6/15/2029 (a) |
EUR | 350,000 | 343,383 | |||||
PNC Financial Services Group, Inc. (The) Series T, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.60%), 3.40%, 9/15/2026 (d) (e) (f) |
410,000 | 379,865 | ||||||
Regency Centers LP REIT, 2.95%, 9/15/2029 |
95,000 | 94,090 | ||||||
Silgan Holdings, Inc. 3.25%, 3/15/2025 |
EUR | 300,000 | 333,146 | |||||
Swiss Re Finance UK plc (EUR Swap Annual 1 Year + 3.75%), 2.71%, 6/4/2052 (a) (d) |
EUR | 100,000 | 109,445 | |||||
TI Automotive Finance plc |
||||||||
3.75%, 4/15/2029 (a) |
EUR | 300,000 | 313,690 | |||||
3.75%, 4/15/2029 (c) |
EUR | 105,000 | 109,791 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
United States — continued |
| |||||||
Transocean, Inc. 11.50%, 1/30/2027 (c) |
25,000 | 25,000 | ||||||
Upjohn Finance BV 1.91%, 6/23/2032 (a) |
EUR | 150,000 | 160,784 | |||||
Verizon Communications, Inc. |
||||||||
2.55%, 3/21/2031 |
330,000 | 316,770 | ||||||
2.36%, 3/15/2032 (c) |
60,000 | 56,025 | ||||||
2.65%, 11/20/2040 |
60,000 | 52,064 | ||||||
VMware, Inc. 2.20%, 8/15/2031 |
290,000 | 265,677 | ||||||
Wells Fargo & Co. Series BB, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.45%), 3.90%, 3/15/2026 (d) (e) (f) |
340,000 | 327,250 | ||||||
WMG Acquisition Corp. 2.25%, 8/15/2031 (c) |
EUR | 162,000 | 159,845 | |||||
|
|
|||||||
22,267,401 | ||||||||
|
|
|||||||
Total
Corporate Bonds |
179,021,793 | |||||||
|
|
|||||||
Foreign Government Securities — 34.3% |
| |||||||
Angola — 0.2% |
| |||||||
Republic of Angola |
||||||||
8.00%, 11/26/2029 (a) |
210,000 | 206,325 | ||||||
9.13%, 11/26/2049 (a) |
480,000 | 445,200 | ||||||
|
|
|||||||
651,525 | ||||||||
|
|
|||||||
Australia — 3.3% |
| |||||||
Commonwealth of Australia |
||||||||
5.50%, 4/21/2023 (a) |
AUD | 11,898,000 | 9,121,097 | |||||
3.00%, 3/21/2047 (a) |
AUD | 2,140,000 | 1,659,804 | |||||
|
|
|||||||
10,780,901 | ||||||||
|
|
|||||||
Bahrain — 0.1% |
| |||||||
Kingdom of Bahrain 6.00%, 9/19/2044 (a) |
335,000 | 281,149 | ||||||
|
|
|||||||
Brazil — 4.6% |
| |||||||
Notas do Tesouro Nacional Series F, 10.00%, 1/1/2027 |
BRL | 80,000,000 | 14,843,935 | |||||
|
|
|||||||
Canada — 7.6% |
| |||||||
Canada Government Bond |
||||||||
1.50%, 6/1/2023 |
CAD | 10,781,000 | 8,530,386 | |||||
0.25%, 8/1/2023 |
CAD | 20,686,000 | 16,078,774 | |||||
|
|
|||||||
24,609,160 | ||||||||
|
|
|||||||
China — 4.8% |
| |||||||
People’s Republic of China |
||||||||
2.69%, 8/12/2026 |
CNY | 50,000,000 | 7,965,905 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 119 |
JPMorgan International Bond Opportunities ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities — continued |
| |||||||
China — continued |
| |||||||
3.02%, 5/27/2031 |
CNY | 30,640,000 | 4,909,994 | |||||
2.89%, 11/18/2031 |
CNY | 17,390,000 | 2,772,015 | |||||
|
|
|||||||
15,647,914 | ||||||||
|
|
|||||||
Colombia — 0.1% |
| |||||||
Republic of Colombia |
||||||||
3.13%, 4/15/2031 |
210,000 | 178,014 | ||||||
5.20%, 5/15/2049 |
250,000 | 210,438 | ||||||
|
|
|||||||
388,452 | ||||||||
|
|
|||||||
Dominican Republic — 0.2% |
| |||||||
Dominican Republic Government Bond |
||||||||
6.88%, 1/29/2026 (c) |
280,000 | 305,200 | ||||||
4.88%, 9/23/2032 (c) |
240,000 | 218,070 | ||||||
5.30%, 1/21/2041 (c) |
165,000 | 141,312 | ||||||
|
|
|||||||
664,582 | ||||||||
|
|
|||||||
Egypt — 0.4% |
| |||||||
Arab Republic of Egypt |
||||||||
5.75%, 5/29/2024 (c) |
200,000 | 198,500 | ||||||
7.60%, 3/1/2029 (c) |
280,000 | 251,300 | ||||||
5.88%, 2/16/2031 (c) |
386,000 | 299,150 | ||||||
7.05%, 1/15/2032 (c) |
230,000 | 186,875 | ||||||
7.30%, 9/30/2033 (c) |
200,000 | 163,500 | ||||||
8.70%, 3/1/2049 (a) |
300,000 | 234,750 | ||||||
|
|
|||||||
1,334,075 | ||||||||
|
|
|||||||
El Salvador — 0.1% |
| |||||||
Republic of El Salvador |
||||||||
5.88%, 1/30/2025 (a) |
142,000 | 85,537 | ||||||
6.38%, 1/18/2027 (a) |
160,000 | 87,380 | ||||||
|
|
|||||||
172,917 | ||||||||
|
|
|||||||
Ethiopia — 0.0% (j) |
| |||||||
Federal Democratic Republic of Ethiopia 6.63%, 12/11/2024 (a) |
200,000 | 149,475 | ||||||
|
|
|||||||
Ghana — 0.1% |
| |||||||
Republic of Ghana 7.63%, 5/16/2029 (a) |
320,000 | 216,000 | ||||||
|
|
|||||||
Hungary — 0.2% |
| |||||||
Hungary Government Bond |
||||||||
2.13%, 9/22/2031 (c) |
200,000 | 178,460 | ||||||
7.63%, 3/29/2041 |
150,000 | 216,810 | ||||||
3.13%, 9/21/2051 (c) |
466,000 | 383,227 | ||||||
|
|
|||||||
778,497 | ||||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Indonesia — 1.5% |
| |||||||
Republic of Indonesia |
||||||||
7.00%, 9/15/2030 |
IDR | 4,152,000,000 | 297,376 | |||||
6.50%, 2/15/2031 |
IDR | 23,346,000,000 | 1,623,349 | |||||
6.38%, 4/15/2032 |
IDR | 21,554,000,000 | 1,478,490 | |||||
7.50%, 4/15/2040 |
IDR | 20,209,000,000 | 1,474,848 | |||||
|
|
|||||||
4,874,063 | ||||||||
|
|
|||||||
Israel — 0.2% |
| |||||||
State of Israel Government Bond 3.38%, 1/15/2050 |
570,000 | 557,638 | ||||||
|
|
|||||||
Italy — 1.7% |
| |||||||
Italian Republic Government Bond |
||||||||
0.88%, 5/6/2024 |
962,000 | 935,975 | ||||||
2.38%, 10/17/2024 |
3,295,000 | 3,307,966 | ||||||
2.88%, 10/17/2029 |
1,135,000 | 1,114,928 | ||||||
|
|
|||||||
5,358,869 | ||||||||
|
|
|||||||
Ivory Coast — 0.3% |
| |||||||
Republic of Cote d’Ivoire |
||||||||
6.38%, 3/3/2028 (a) |
270,000 | 276,294 | ||||||
6.13%, 6/15/2033 (a) |
370,000 | 356,079 | ||||||
6.88%, 10/17/2040 (c) |
EUR | 460,000 | 469,130 | |||||
|
|
|||||||
1,101,503 | ||||||||
|
|
|||||||
Jamaica — 0.2% |
| |||||||
Jamaica Government Bond |
||||||||
8.00%, 3/15/2039 |
240,000 | 314,670 | ||||||
7.88%, 7/28/2045 |
200,000 | 262,100 | ||||||
|
|
|||||||
576,770 | ||||||||
|
|
|||||||
Kazakhstan — 0.1% |
| |||||||
Republic of Kazakhstan 1.50%, 9/30/2034 (c) |
EUR | 370,000 | 360,930 | |||||
|
|
|||||||
Kenya — 0.3% |
| |||||||
Republic of Kenya |
||||||||
6.88%, 6/24/2024 (a) |
400,000 | 414,000 | ||||||
6.30%, 1/23/2034 (c) |
783,000 | 651,848 | ||||||
|
|
|||||||
1,065,848 | ||||||||
|
|
|||||||
Lebanon — 0.0% (j) |
| |||||||
Lebanese Republic |
||||||||
6.65%, 4/22/2024 (a) (k) |
227,000 | 26,673 | ||||||
6.65%, 11/3/2028 (a) (k) |
226,000 | 26,555 | ||||||
|
|
|||||||
53,228 | ||||||||
|
|
|||||||
Malaysia — 0.3% |
| |||||||
Malaysia Government Bond 3.83%, 7/5/2034 |
MYR | 3,920,000 | 915,115 | |||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
120 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Foreign Government Securities — continued |
| |||||||
Mexico — 2.3% |
| |||||||
United Mexican States |
||||||||
Series M 20, 8.50%, 5/31/2029 |
MXN | 42,700,000 | 2,155,874 | |||||
7.75%, 5/29/2031 |
MXN | 45,780,000 | 2,211,795 | |||||
Series M 30, 8.50%, 11/18/2038 |
MXN | 42,000,000 | 2,123,142 | |||||
3.77%, 5/24/2061 |
392,000 | 315,952 | ||||||
3.75%, 4/19/2071 |
853,000 | 671,311 | ||||||
|
|
|||||||
7,478,074 | ||||||||
|
|
|||||||
New Zealand — 0.9% |
| |||||||
New Zealand Government Bond |
||||||||
4.50%, 4/15/2027 (a) |
NZD | 952,000 | 700,561 | |||||
2.75%, 4/15/2037 (a) |
NZD | 3,201,000 | 2,109,854 | |||||
|
|
|||||||
2,810,415 | ||||||||
|
|
|||||||
Nigeria — 0.4% |
| |||||||
Federal Republic of Nigeria |
||||||||
7.63%, 11/21/2025 (a) |
300,000 | 318,000 | ||||||
7.88%, 2/16/2032 (a) |
320,000 | 294,000 | ||||||
7.38%, 9/28/2033 (c) |
287,000 | 255,753 | ||||||
7.63%, 11/28/2047 (a) |
400,000 | 323,000 | ||||||
|
|
|||||||
1,190,753 | ||||||||
|
|
|||||||
Paraguay — 0.3% |
| |||||||
Republic of Paraguay |
||||||||
5.00%, 4/15/2026 (a) |
302,000 | 315,269 | ||||||
4.95%, 4/28/2031 (c) |
550,000 | 570,728 | ||||||
|
|
|||||||
885,997 | ||||||||
|
|
|||||||
Philippines — 0.1% |
| |||||||
Republic of Philippines 2.95%, 5/5/2045 |
330,000 | 281,774 | ||||||
|
|
|||||||
Portugal — 1.4% |
| |||||||
Obrigacoes do Tesouro 5.13%, 10/15/2024 (a) |
4,260,000 | 4,611,961 | ||||||
|
|
|||||||
Qatar — 0.2% |
| |||||||
State of Qatar |
||||||||
5.10%, 4/23/2048 (a) |
245,000 | 307,169 | ||||||
4.40%, 4/16/2050 (c) |
200,000 | 231,250 | ||||||
|
|
|||||||
538,419 | ||||||||
|
|
|||||||
Romania — 0.1% |
| |||||||
Romania Government Bond 4.63%, 4/3/2049 (c) |
EUR | 276,000 | 289,737 | |||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Senegal — 0.3% |
| |||||||
Republic of Senegal |
||||||||
6.25%, 5/23/2033 (a) |
660,000 | 608,850 | ||||||
6.75%, 3/13/2048 (a) |
260,000 | 219,180 | ||||||
|
|
|||||||
828,030 | ||||||||
|
|
|||||||
Serbia — 0.2% |
| |||||||
Republic of Serbia |
||||||||
1.50%, 6/26/2029 (c) |
EUR | 410,000 | 388,457 | |||||
1.65%, 3/3/2033 (c) |
EUR | 316,000 | 270,608 | |||||
|
|
|||||||
659,065 | ||||||||
|
|
|||||||
South Africa — 1.6% |
| |||||||
Republic of South Africa |
||||||||
4.30%, 10/12/2028 |
240,000 | 230,295 | ||||||
Series R213, 7.00%, 2/28/2031 |
ZAR | 46,000,000 | 2,511,947 | |||||
8.88%, 2/28/2035 |
ZAR | 36,553,674 | 2,136,907 | |||||
5.75%, 9/30/2049 |
310,000 | 266,949 | ||||||
|
|
|||||||
5,146,098 | ||||||||
|
|
|||||||
Ukraine — 0.1% |
| |||||||
Ukraine Government Bond |
||||||||
7.75%, 9/1/2023 (a) |
270,000 | 108,000 | ||||||
7.75%, 9/1/2026 (a) |
560,000 | 179,200 | ||||||
7.38%, 9/25/2032 (a) |
430,000 | 137,600 | ||||||
|
|
|||||||
424,800 | ||||||||
|
|
|||||||
United Arab Emirates — 0.1% |
| |||||||
United Arab Emirates Government Bond 4.00%, 7/28/2050 (c) |
400,000 | 329,575 | ||||||
|
|
|||||||
Uruguay — 0.0% (j) |
| |||||||
Oriental Republic of Uruguay 5.10%, 6/18/2050 |
88,906 | 105,870 | ||||||
|
|
|||||||
Total
Foreign Government Securities |
|
110,963,114 | ||||||
|
|
|||||||
Commercial Mortgage-Backed Securities — 1.9% |
| |||||||
United States — 1.9% |
| |||||||
BAMLL Re-REMIC Trust Series 2014-FRR4, Class BK29, PO, 4/27/2023 (c) |
400,000 | 379,589 | ||||||
Banc of America Commercial Mortgage Trust Series 2007-5, Class AJ, 5.82%, 2/10/2051 (h) |
325,853 | 328,548 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 121 |
JPMorgan International Bond Opportunities ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Commercial Mortgage-Backed Securities — continued |
| |||||||
United States — continued |
| |||||||
BANK |
||||||||
Series 2019-BN16, Class C, 4.79%, 2/15/2052 ‡ (h) |
23,000 | 23,806 | ||||||
Series 2018-BN10, Class C, 4.16%, 2/15/2061 ‡ (h) |
70,000 | 70,945 | ||||||
Series 2018-BN13, Class C, 4.57%, 8/15/2061 ‡ (h) |
118,000 | 122,144 | ||||||
Series 2019-BN20, Class C, 3.65%, 9/15/2062 ‡ (h) |
176,000 | 169,367 | ||||||
Benchmark Mortgage Trust Series 2019-B11, Class C, 3.75%, 5/15/2052 ‡ (h) |
315,000 | 308,512 | ||||||
Cascade Funding Mortgage Trust Series 2021-FRR1, Class BK45, 2.32%, 2/28/2025 ‡ (c) |
1,000,000 | 953,424 | ||||||
CCUBS Commercial Mortgage Trust Series 2017-C1, Class C, 4.39%, 11/15/2050 ‡ (h) |
28,000 | 28,525 | ||||||
CD Mortgage Trust Series 2016-CD2, Class C, 3.98%, 11/10/2049 ‡ (h) |
21,000 | 20,355 | ||||||
Citigroup Commercial Mortgage Trust |
||||||||
Series 2014-GC23, Class C, 4.43%, 7/10/2047 ‡ (h) |
21,000 | 21,284 | ||||||
Series 2015-P1, Class D, 3.23%, 9/15/2048 ‡ (c) |
205,000 | 185,812 | ||||||
FHLMC, Multi-Family Structured Pass-Through Certificates |
||||||||
Series K033, Class X1, IO, 0.29%, 7/25/2023 (h) |
3,733,528 | 13,622 | ||||||
Series K739, Class X1, IO, 1.22%, 9/25/2027 (h) |
2,130,516 | 118,074 | ||||||
Series K153, Class X3, IO, 3.77%, 4/25/2035 (h) |
340,000 | 99,729 | ||||||
Series K036, Class X3, IO, 2.11%, 12/25/2041 (h) |
2,640,000 | 90,798 | ||||||
Series K720, Class X3, IO, 1.33%, 8/25/2042 (h) |
6,800,000 | 32,845 | ||||||
Series K041, Class X3, IO, 1.64%, 11/25/2042 (h) |
3,470,000 | 135,005 | ||||||
Series K718, Class X3, IO, 3.43%, 2/25/2043 (h) |
417,140 | 229 | ||||||
Series K054, Class X3, IO, 1.60%, 4/25/2043 (h) |
1,365,000 | 76,438 | ||||||
Series K050, Class X3, IO, 1.55%, 10/25/2043 (h) |
1,010,000 | 49,194 | ||||||
Series K051, Class X3, IO, 1.61%, 10/25/2043 (h) |
1,395,000 | 72,068 | ||||||
Series K052, Class X3, IO, 1.61%, 1/25/2044 (h) |
750,000 | 40,878 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
United States — continued |
| |||||||
Series K726, Class X3, IO, 2.14%, 7/25/2044 (h) |
2,890,000 | 127,481 | ||||||
Series K067,
Class X3, IO, 2.11%, |
1,385,000 | 139,685 | ||||||
Series K072, Class X3, IO, 2.14%, 12/25/2045 (h) |
400,000 | 43,196 | ||||||
Series K089, Class X3, IO, 2.30%, 1/25/2046 (h) |
850,000 | 117,694 | ||||||
Series K078, Class X3, IO, 2.21%, 6/25/2046 (h) |
1,820,000 | 221,026 | ||||||
Series K088, Class X3, IO, 2.35%, 2/25/2047 (h) |
980,000 | 139,363 | ||||||
FREMF Series 2018-KF46, Class B, 2.06%, 3/25/2028 (c) (h) |
249,800 | 243,753 | ||||||
FREMF Mortgage Trust |
||||||||
Series 2017-KF31, Class B, 3.01%, 4/25/2024 (c) (h) |
38,243 | 37,949 | ||||||
Series 2017-KF36, Class B, 2.76%, 8/25/2024 (c) (h) |
37,729 | 37,729 | ||||||
Series 2017-KF38, Class B, 2.61%, 9/25/2024 (c) (h) |
19,725 | 19,725 | ||||||
Series 2018-KF47, Class B, 2.11%, 5/25/2025 (c) (h) |
9,451 | 9,326 | ||||||
Series 2018-KF49, Class B, 2.01%, 6/25/2025 (c) (h) |
189,349 | 182,904 | ||||||
Series 2017-K728, Class B, 3.65%, 11/25/2050 (c) (h) |
190,000 | 194,691 | ||||||
Series 2017-K728, Class C, 3.65%, 11/25/2050 (c) (h) |
105,000 | 106,438 | ||||||
GNMA
Series 2017-23, IO, 0.62%,
|
286,897 | 12,012 | ||||||
GS Mortgage Securities Trust |
||||||||
Series 2012-GCJ9, Class D, 4.74%, 11/10/2045 ‡ (c) (h) |
320,000 | 318,115 | ||||||
Series 2015-GC30, Class C, 4.07%, 5/10/2050 ‡ (h) |
36,000 | 36,101 | ||||||
JPMBB Commercial Mortgage Securities Trust |
||||||||
Series 2015-C30, Class C, 4.26%, 7/15/2048 ‡ (h) |
62,000 | 60,742 | ||||||
Series 2015-C31, Class C, 4.62%, 8/15/2048 ‡ (h) |
23,000 | 23,252 | ||||||
JPMDB Commercial Mortgage Securities Trust Series 2017-C7, Class C, 4.16%, 10/15/2050 (h) |
19,509 | 19,694 | ||||||
JPMorgan Chase Commercial Mortgage Securities Trust Series 2016-JP4, Class C, 3.39%, 12/15/2049 ‡ (h) |
28,000 | 26,431 |
SEE NOTES TO FINANCIAL STATEMENTS.
122 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Commercial Mortgage-Backed Securities — continued |
| |||||||
United States — continued |
| |||||||
LB Commercial Mortgage Trust Series 2007-C3, Class AJ, 5.82%, 7/15/2044 (h) |
2,907 | 2,866 | ||||||
LB-UBS Commercial Mortgage Trust Series 2006-C6, Class AJ, 5.45%, 9/15/2039 (h) |
134,898 | 56,454 | ||||||
Morgan Stanley Bank of America Merrill Lynch Trust |
||||||||
Series 2014-C14, Class C, 5.05%, 2/15/2047 ‡ (h) |
21,000 | 21,828 | ||||||
Series 2015-C24, Class C, 4.34%, 5/15/2048 ‡ (h) |
36,000 | 35,891 | ||||||
Morgan Stanley Capital I Trust |
||||||||
Series 2005-HQ7, Class E, 5.48%, 11/14/2042 ‡ (h) |
42,106 | 41,269 | ||||||
Series 2015-MS1, Class B, 4.03%, 5/15/2048 ‡ (h) |
28,000 | 28,472 | ||||||
UBS Commercial Mortgage Trust Series 2017-C7, Class B, 4.29%, 12/15/2050 ‡ (h) |
106,000 | 109,810 | ||||||
Velocity Commercial Capital Loan Trust |
||||||||
Series 2018-2, Class A, 4.05%, 10/26/2048 (c) (h) |
109,651 | 111,075 | ||||||
Series 2019-1, Class M1, 3.94%, 3/25/2049 ‡ (c) (h) |
125,824 | 126,042 | ||||||
Wells Fargo Commercial Mortgage Trust |
||||||||
Series 2016-C35, Class C, 4.18%, 7/15/2048 ‡ (h) |
23,000 | 22,383 | ||||||
Series 2019-C49, Class C, 4.87%, 3/15/2052 ‡ (h) |
59,000 | 61,437 | ||||||
|
|
|||||||
Total
Commercial Mortgage-Backed Securities |
6,076,025 | |||||||
|
|
|||||||
Asset-Backed Securities — 1.5% |
| |||||||
United States — 1.5% |
| |||||||
Accelerated Assets LLC Series 2018-1, Class C, 6.65%, 12/2/2033 ‡ (c) |
127,152 | 130,243 | ||||||
Chase
Funding Trust Series 2003-6,
Class 1A7, 5.28%, |
72,016 | 74,053 | ||||||
Credit-Based Asset Servicing and Securitization LLC Series 2004-CB5, Class M1, 1.10%, 1/25/2034 ‡ (h) |
83,347 | 81,806 | ||||||
Drive Auto Receivables Trust Series 2018-3, Class D, 4.30%, 9/16/2024 |
91,731 | 92,585 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
United States — continued |
| |||||||
DT Auto Owner Trust |
||||||||
Series 2019-1A, Class D, 3.87%, 11/15/2024 (c) |
61,465 | 62,181 | ||||||
Series 2019-1A, Class E, 4.94%, 2/17/2026 (c) |
100,000 | 102,723 | ||||||
Exeter Automobile Receivables Trust Series 2018-3A, Class D, 4.35%, 6/17/2024 (c) |
125,201 | 126,614 | ||||||
Flagship Credit Auto Trust |
||||||||
Series 2017-4, Class D, 3.58%, 1/15/2024 (c) |
253,789 | 255,843 | ||||||
Series 2017-2, Class E, 5.55%, 7/15/2024 (c) |
380,000 | 380,882 | ||||||
GLS Auto Receivables Issuer Trust Series 2019-2A, Class B, 3.32%, 3/15/2024 (c) |
58,538 | 58,764 | ||||||
JetBlue Pass-Through Trust |
||||||||
Series 2019-1, Class B, 8.00%, 11/15/2027 |
158,273 | 178,986 | ||||||
Series 2019-1, Class A, 2.95%, 5/15/2028 |
45,733 | 44,287 | ||||||
Series 2020-1, Class B, 7.75%, 11/15/2028 |
42,096 | 48,239 | ||||||
Lendmark Funding Trust Series 2019-2A, Class C, 3.72%, 4/20/2028 ‡ (c) |
580,000 | 584,675 | ||||||
Marlette Funding Trust Series 2018-2A, Class C, 4.37%, 7/17/2028 (c) |
46,660 | 46,729 | ||||||
OneMain Direct Auto Receivables Trust |
||||||||
Series 2018-1A, Class B, 3.71%, 4/14/2025 (c) |
81,131 | 81,214 | ||||||
Series 2018-1A, Class D, 4.40%, 1/14/2028 (c) |
160,000 | 160,183 | ||||||
Onemain Financial Issuance Trust Series 2018-1A, Class D, 4.08%, 3/14/2029 ‡ (c) |
100,000 | 100,773 | ||||||
PNMAC GMSR Issuer Trust Series 2018-GT2, Class A, 2.84%, 8/25/2025 (c) (h) |
210,000 | 210,164 | ||||||
Santander Revolving Auto Loan Trust |
||||||||
Series 2019-A, Class C, 3.00%, 1/26/2032 (c) |
150,000 | 151,566 | ||||||
Series 2019-A, Class D, 3.45%, 1/26/2032 (c) |
650,000 | 660,077 | ||||||
Structured Asset Investment Loan Trust |
||||||||
Series 2004-8, Class M3, 1.16%, 9/25/2034 ‡ (h) |
33,409 | 33,363 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 123 |
JPMorgan International Bond Opportunities ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Asset-Backed Securities — continued |
| |||||||
United States — continued |
| |||||||
Series 2005-HE3, Class M1, 0.91%, 9/25/2035 ‡ (h) |
38,868 | 38,705 | ||||||
US Auto Funding Series 2021-1A, Class C, 2.20%, 5/15/2026 (c) |
1,125,000 | 1,091,607 | ||||||
|
|
|||||||
Total Asset-Backed Securities (Cost $4,804,703) |
4,796,262 | |||||||
|
|
|||||||
Collateralized Mortgage Obligations — 0.8% |
| |||||||
United Kingdom — 0.0% (j) |
| |||||||
Brass NO 8 plc Series 8A, Class A1, 1.16%, 11/16/2066 (c) (h) |
67,815 | 68,001 | ||||||
|
|
|||||||
United States — 0.8% |
| |||||||
Alternative Loan Trust |
||||||||
Series 2004-25CB, Class A1, 6.00%, 12/25/2034 |
102,147 | 101,725 | ||||||
Series 2005-6CB, Class 1A6, 5.50%, 4/25/2035 |
64,923 | 62,654 | ||||||
Series 2005-80CB, Class 5A1, 6.00%, 2/25/2036 |
75,780 | 76,068 | ||||||
Series 2007-2CB, Class 1A6, 5.75%, 3/25/2037 |
126,250 | 90,301 | ||||||
Chase Mortgage Finance Trust Series 2007-A1, Class 1A5, 2.32%, 2/25/2037 (h) |
17,840 | 17,959 | ||||||
CHL Mortgage Pass-Through Trust Series 2007-16, Class A1, 6.50%, 10/25/2037 |
45,896 | 28,774 | ||||||
FHLMC Structured Agency Credit Risk Debt Notes Series 2018-HQA1, Class M2, 2.49%, 9/25/2030 (h) |
45,535 | 45,919 | ||||||
FHLMC, REMIC |
||||||||
Series 2916, Class S, IF, IO, 7.06%, 1/15/2035 (h) |
1,429,807 | 224,682 | ||||||
Series 4305, Class SK, IF, IO, 6.41%, 2/15/2044 (h) |
461,864 | 87,194 | ||||||
Series 4689, Class SD, IF, IO, 5.96%, 6/15/2047 (h) |
326,038 | 59,150 | ||||||
Series 4714, Class SA, IF, IO, 5.96%, 8/15/2047 (h) |
259,981 | 47,423 | ||||||
Series 5022, IO, 3.00%, 9/25/2050 |
466,679 | 63,128 | ||||||
Series 5023, Class MI, IO, 3.00%, 10/25/2050 |
827,013 | 144,577 | ||||||
Series 4839, Class WS, IF, IO, 5.91%, 8/15/2056 (h) |
2,056,146 | 434,925 | ||||||
FNMA, Connecticut Avenue Securities |
||||||||
Series 2015-C03, Class 2M2, 5.19%, 7/25/2025 (h) |
2,937 | 2,937 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
United States — continued |
| |||||||
Series 2016-C06, Class 1M2, 4.44%, 4/25/2029 (h) |
36,141 | 37,344 | ||||||
Series 2018-C06, Class 1M2, 2.19%, 3/25/2031 (h) |
70,617 | 70,992 | ||||||
Series 2018-C06, Class 2M2, 2.29%, 3/25/2031 (h) |
20,012 | 20,152 | ||||||
FNMA, REMIC |
||||||||
Series 2010-57, Class ID, IO, 4.00%, 6/25/2025 |
60,647 | 778 | ||||||
Series 2012-146, Class AI, IO, 3.00%, 1/25/2028 |
857,807 | 43,754 | ||||||
Series 2016-68, Class BI, IO, 3.00%, 10/25/2031 |
629,220 | 50,934 | ||||||
Series 2012-93, Class SE, IF, IO, 5.91%, 9/25/2042 (h) |
97,007 | 17,424 | ||||||
Series 2012-124, Class UI, IO, 4.00%, 11/25/2042 |
98,157 | 13,572 | ||||||
Series 2012-133, Class NS, IF, IO, 5.96%, 12/25/2042 (h) |
168,223 | 31,236 | ||||||
Series 2015-40, Class LS, IF, IO, 5.98%, 6/25/2045 (h) |
243,840 | 41,464 | ||||||
Series 2016-75, Class SC, IF, IO, 5.91%, 10/25/2046 (h) |
602,166 | 97,187 | ||||||
Series 2017-31, Class SG, IF, IO, 5.91%, 5/25/2047 (h) |
847,942 | 152,888 | ||||||
Series 2017-39, Class ST, IF, IO, 5.91%, 5/25/2047 (h) |
243,061 | 49,549 | ||||||
Series 2017-69, Class SH, IF, IO, 6.01%, 9/25/2047 (h) |
369,894 | 70,237 | ||||||
Series 2019-42, Class SK, IF, IO, 5.86%, 8/25/2049 (h) |
639,376 | 108,937 | ||||||
FNMA,
STRIPS Series 409, |
111,309 | 5,922 | ||||||
GNMA |
||||||||
Series 2017-107, Class KS, IF, IO, 6.04%, 7/20/2047 (h) |
222,509 | 31,419 | ||||||
Series 2019-42, Class SJ, IF, IO, 5.89%, 4/20/2049 (h) |
498,704 | 74,609 | ||||||
Series 2015-H13, Class GI, IO, 1.55%, 4/20/2065 (h) |
152,714 | 4,850 | ||||||
Merrill Lynch Mortgage Investors Trust Series 2004-C, Class A1, 0.75%, 7/25/2029 (h) |
46,068 | 45,332 | ||||||
Structured Adjustable Rate Mortgage Loan Trust Series 2004-8, Class 3A, 2.56%, 7/25/2034 (h) |
14,015 | 14,341 | ||||||
|
|
|||||||
2,470,337 | ||||||||
|
|
|||||||
Total
Collateralized Mortgage Obligations |
2,538,338 | |||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
124 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Supranational — 0.4% |
| |||||||
African Export-Import Bank (The) 5.25%, 10/11/2023 (a) |
200,000 | 204,000 | ||||||
European Union 0.10%, 10/4/2040 (a) |
EUR | 1,070,000 | 1,029,474 | |||||
|
|
|||||||
Total
Supranational |
1,233,474 | |||||||
|
|
|||||||
SHARES | ||||||||
Common Stocks — 0.0% (j) |
| |||||||
United States — 0.0% (j) |
| |||||||
Oasis
Petroleum, Inc. |
1,711 | 226,725 | ||||||
|
|
|||||||
NO.
OF WARRANTS |
||||||||
Warrants — 0.0% (j) |
| |||||||
United States — 0.0% (j) |
| |||||||
Windstream
Holdings, Inc. |
16 | 184 | ||||||
|
|
|||||||
SHARES | ||||||||
Short-Term Investments — 3.1% |
||||||||
Investment Companies — 3.1% |
||||||||
JPMorgan
U.S. Government Money Market Fund Class IM Shares, 0.03% (l)
(m) |
9,903,539 | 9,903,539 | ||||||
|
|
|||||||
Total
Investments — 97.4% |
314,759,454 | |||||||
Other Assets Less Liabilities — 2.6% |
8,359,111 | |||||||
|
|
|||||||
NET ASSETS — 100.0% |
|
323,118,565 | ||||||
|
|
Percentages indicated are based on net assets.
Abbreviations
AUD |
Australian Dollar | |
BRL |
Brazilian Real | |
CAD |
Canadian Dollar | |
CNY |
China Yuan | |
EUR |
Euro | |
EURIBOR |
Euro Interbank Offered Rate | |
FHLMC |
Federal Home Loan Mortgage Corp. | |
FNMA |
Federal National Mortgage Association | |
GBP |
British Pound | |
GNMA |
Government National Mortgage Association | |
ICE |
Intercontinental Exchange | |
IDR |
Indonesian Rupiah |
IF |
Inverse Floaters represent securities that pay interest at a rate that increases (decreases) with a decline (incline) in a specified index or have an interest rate that adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the rate in effect as of February 28, 2022. The rate may be subject to a cap and floor. | |
IO |
Interest Only represents the right to receive the monthly interest payments on an underlying pool of mortgage loans. The principal amount shown represents the par value on the underlying pool. The yields on these securities are subject to accelerated principal paydowns as a result of prepayment or refinancing of the underlying pool of mortgage instruments. As a result, interest income may be reduced considerably. | |
JSC |
Joint Stock Company | |
LIBOR |
London Interbank Offered Rate | |
MXN |
Mexican Peso | |
MYR |
Malaysian Ringgit | |
NZD |
New Zealand Dollar | |
OYJ |
Public Limited Company | |
PO |
Principal Only represents the right to receive the principal portion only on an underlying pool of mortgage loans. The market value of these securities is extremely volatile in response to changes in market interest rates. As prepayments on the underlying mortgages of these securities increase, the yield on these securities increases. | |
PT |
Limited liability company | |
REIT |
Real Estate Investment Trust | |
REMIC |
Real Estate Mortgage Investment Conduit | |
Re-REMIC |
Combined Real Estate Mortgage Investment Conduit | |
SOFR |
Secured Overnight Financing Rate | |
STRIPS |
Separate Trading of Registered Interest and Principal of Securities. The STRIPS Program lets investors hold and trade individual interest and principal components of eligible notes and bonds as separate securities. | |
USD |
United States Dollar | |
ZAR |
South African Rand | |
(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) |
Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future contingent upon a predetermined trigger. The interest rate shown is the current rate as of February 28, 2022. | |
(c) |
Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. | |
(d) |
Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of February 28, 2022. | |
(e) |
Security is perpetual and thus, does not have a predetermined maturity date. The coupon rate for this security is fixed for a period of time and may be structured to adjust thereafter. The date shown, if applicable, reflects the next call date. The coupon rate shown is the rate in effect as of February 28, 2022. | |
(f) |
Security is an interest bearing note with preferred security characteristics. |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 125 |
JPMorgan International Bond Opportunities ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
(g) |
Security has the ability to pay in kind (“PIK”) or pay income in cash. When applicable, separate rates of such payments are disclosed. | |
(h) |
Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of February 28, 2022. | |
(i) |
All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment. |
(j) |
Amount rounds to less than 0.1% of net assets. | |
(k) |
Defaulted security. | |
(l) |
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. | |
(m) |
The rate shown is the current yield as of February 28, 2022. | |
* |
Non-income producing security. | |
‡ |
Value determined using significant unobservable inputs. |
Futures contracts outstanding as of February 28, 2022:
DESCRIPTION | NUMBER OF CONTRACTS |
EXPIRATION DATE |
TRADING CURRENCY |
NOTIONAL AMOUNT ($) |
VALUE
AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
|||||||||||||||
Long Contracts |
||||||||||||||||||||
Euro-Bund |
20 | 03/2022 | EUR | 3,764,036 | 19,714 | |||||||||||||||
U.S. Treasury 5 Year Note |
9 | 06/2022 | USD | 1,064,180 | 4,271 | |||||||||||||||
|
|
|||||||||||||||||||
23,985 | ||||||||||||||||||||
|
|
|||||||||||||||||||
Short Contracts |
|
|||||||||||||||||||
Euro-Bobl |
(68 | ) | 03/2022 | EUR | (10,091,788 | ) | 37,048 | |||||||||||||
Euro-BTP |
(25 | ) | 03/2022 | EUR | (3,956,611 | ) | 41,077 | |||||||||||||
Euro-Buxl |
(16 | ) | 03/2022 | EUR | (3,575,083 | ) | 325,808 | |||||||||||||
U.S. Treasury 5 Year Note |
(9 | ) | 06/2022 | USD | (1,064,180 | ) | (4,276 | ) | ||||||||||||
U.S. Treasury 10 Year Note |
(22 | ) | 06/2022 | USD | (2,803,281 | ) | (17,749 | ) | ||||||||||||
U.S. Treasury 10 Year Ultra Note |
(99 | ) | 06/2022 | USD | (14,002,312 | ) | (135,559 | ) | ||||||||||||
U.S. Treasury Ultra Bond |
(13 | ) | 06/2022 | USD | (2,425,312 | ) | (27,732 | ) | ||||||||||||
|
|
|||||||||||||||||||
218,617 | ||||||||||||||||||||
|
|
|||||||||||||||||||
242,602 | ||||||||||||||||||||
|
|
Abbreviations
EUR |
Euro | |
USD |
UnitedStates Dollar |
Forward foreign currency exchange contracts outstanding as of February 28, 2022: | ||||||||||||||||||||||
CURRENCY PURCHASED | CURRENCY SOLD | COUNTERPARTY | SETTLEMENT DATE |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
||||||||||||||||||
EUR | 111,989,291 | USD | 125,387,660 | BNP Paribas | 3/3/2022 | 185,004 | ||||||||||||||||
GBP | 6,434,677 | USD | 8,615,762 | BNP Paribas | 3/3/2022 | 16,418 | ||||||||||||||||
USD | 1,185,044 | EUR | 1,050,164 | BNP Paribas | 3/3/2022 | 7,504 | ||||||||||||||||
USD | 629,419 | EUR | 550,056 | Merrill Lynch International | 3/3/2022 | 12,646 | ||||||||||||||||
USD | 159,688 | EUR | 142,302 | State Street Corp. | 3/3/2022 | 127 | ||||||||||||||||
USD | 8,100,218 | GBP | 6,031,737 | Barclays Bank plc | 3/3/2022 | 8,587 | ||||||||||||||||
USD | 668,829 | GBP | 496,719 | HSBC Bank, NA | 3/3/2022 | 2,475 | ||||||||||||||||
BRL | 4,217,410 | USD | 810,215 | Barclays Bank plc** | 3/22/2022 | 3,846 | ||||||||||||||||
EUR | 1,071,671 | CZK | 26,084,953 | BNP Paribas | 3/22/2022 | 42,745 | ||||||||||||||||
EUR | 715,195 | PLN | 3,247,700 | Citibank, NA | 3/22/2022 | 30,202 | ||||||||||||||||
EUR | 1,405,547 | PLN | 6,557,296 | Merrill Lynch International | 3/22/2022 | 17,803 | ||||||||||||||||
ILS | 10,473,234 | USD | 3,211,830 | Goldman Sachs International | 3/22/2022 | 51,952 | ||||||||||||||||
INR | 228,802,935 | USD | 3,017,553 | BNP Paribas** | 3/22/2022 | 10,282 | ||||||||||||||||
MXN | 67,377,585 | USD | 3,266,895 | Goldman Sachs International | 3/22/2022 | 10,962 | ||||||||||||||||
MXN | 33,619,461 | USD | 1,631,918 | HSBC Bank, NA | 3/22/2022 | 3,638 | ||||||||||||||||
THB | 52,717,581 | EUR | 1,435,312 | BNP Paribas | 3/22/2022 | 2,707 |
SEE NOTES TO FINANCIAL STATEMENTS.
126 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
CURRENCY PURCHASED | CURRENCY SOLD | COUNTERPARTY | SETTLEMENT DATE |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
||||||||||||||||||
USD | 12,076,010 | EUR | 10,671,193 | State Street Corp. | 3/22/2022 | 100,310 | ||||||||||||||||
USD | 438,092 | GBP | 323,173 | Barclays Bank plc | 3/22/2022 | 4,471 | ||||||||||||||||
USD | 1,631,145 | HUF | 516,391,915 | BNP Paribas | 3/22/2022 | 77,706 | ||||||||||||||||
USD | 1,652,366 | HUF | 523,226,880 | Goldman Sachs International | 3/22/2022 | 78,365 | ||||||||||||||||
USD | 1,633,006 | KRW | 1,954,626,068 | BNP Paribas** | 3/22/2022 | 8,101 | ||||||||||||||||
USD | 1,625,363 | KRW | 1,939,903,411 | Citibank, NA** | 3/22/2022 | 12,698 | ||||||||||||||||
USD | 1,616,385 | MXN | 33,070,436 | Goldman Sachs International | 3/22/2022 | 7,539 | ||||||||||||||||
USD | 889,612 | MYR | 3,732,608 | BNP Paribas** | 3/22/2022 | 1,320 | ||||||||||||||||
USD | 801,264 | RUB | 61,983,994 | BNP Paribas** | 3/22/2022 | 230,839 | ||||||||||||||||
USD | 27,717 | RUB | 2,484,839 | Goldman Sachs International** | 3/22/2022 | 4,850 | ||||||||||||||||
USD | 1,639,442 | THB | 52,796,767 | Goldman Sachs International | 3/22/2022 | 23,539 | ||||||||||||||||
USD | 322,872 | ZAR | 4,881,886 | Citibank, NA | 3/22/2022 | 6,236 | ||||||||||||||||
USD | 5,648,363 | ZAR | 86,203,318 | Goldman Sachs International | 3/22/2022 | 57,275 | ||||||||||||||||
ZAR | 24,585,445 | USD | 1,583,451 | BNP Paribas | 3/22/2022 | 11,144 | ||||||||||||||||
ZAR | 13,579,878 | USD | 871,204 | Goldman Sachs International | 3/22/2022 | 9,577 | ||||||||||||||||
USD | 489,134 | EUR | 435,077 | HSBC Bank, NA | 4/5/2022 | 573 | ||||||||||||||||
|
|
|||||||||||||||||||||
Total unrealized appreciation | 1,041,441 | |||||||||||||||||||||
|
|
|||||||||||||||||||||
EUR | 2,370,142 | USD | 2,698,925 | Barclays Bank plc | 3/3/2022 | (41,304 | ) | |||||||||||||||
EUR | 491,813 | USD | 562,016 | BNP Paribas | 3/3/2022 | (10,550 | ) | |||||||||||||||
EUR | 3,121,976 | USD | 3,546,642 | HSBC Bank, NA | 3/3/2022 | (45,996 | ) | |||||||||||||||
EUR | 610,372 | USD | 696,685 | Merrill Lynch International | 3/3/2022 | (12,280 | ) | |||||||||||||||
EUR | 747,486 | USD | 857,385 | Royal Bank of Canada | 3/3/2022 | (19,235 | ) | |||||||||||||||
GBP | 93,779 | USD | 127,677 | HSBC Bank, NA | 3/3/2022 | (1,871 | ) | |||||||||||||||
USD | 130,735,481 | EUR | 116,951,537 | BNP Paribas | 3/3/2022 | (401,310 | ) | |||||||||||||||
USD | 311,839 | EUR | 279,406 | Royal Bank of Canada | 3/3/2022 | (1,456 | ) | |||||||||||||||
USD | 398,862 | EUR | 357,615 | State Street Corp. | 3/3/2022 | (2,128 | ) | |||||||||||||||
BRL | 4,209,018 | USD | 812,487 | BNP Paribas** | 3/22/2022 | (46 | ) | |||||||||||||||
BRL | 8,275,026 | USD | 1,611,495 | Citibank, NA** | 3/22/2022 | (14,217 | ) | |||||||||||||||
CZK | 17,457,828 | EUR | 713,427 | Barclays Bank plc | 3/22/2022 | (24,334 | ) | |||||||||||||||
CZK | 8,781,157 | EUR | 358,020 | Merrill Lynch International | 3/22/2022 | (11,310 | ) | |||||||||||||||
CZK | 35,869,293 | USD | 1,648,621 | BNP Paribas | 3/22/2022 | (53,603 | ) | |||||||||||||||
EUR | 1,425,700 | ILS | 5,242,586 | Citibank, NA | 3/22/2022 | (33,765 | ) | |||||||||||||||
EUR | 221,810 | USD | 253,945 | Merrill Lynch International | 3/22/2022 | (5,019 | ) | |||||||||||||||
EUR | 319,527 | USD | 365,702 | State Street Corp. | 3/22/2022 | (7,115 | ) | |||||||||||||||
HUF | 515,917,436 | EUR | 1,399,041 | Merrill Lynch International | 3/22/2022 | (18,056 | ) | |||||||||||||||
IDR | 13,587,043,388 | USD | 949,214 | Goldman Sachs International** | 3/22/2022 | (5,390 | ) | |||||||||||||||
ILS | 583,152 | USD | 182,160 | Barclays Bank plc | 3/22/2022 | (432 | ) | |||||||||||||||
ILS | 2,600,778 | USD | 815,010 | Citibank, NA | 3/22/2022 | (4,528 | ) | |||||||||||||||
ILS | 2,018,198 | USD | 633,675 | HSBC Bank, NA | 3/22/2022 | (4,743 | ) | |||||||||||||||
INR | 122,813,972 | USD | 1,629,950 | Citibank, NA** | 3/22/2022 | (4,707 | ) | |||||||||||||||
KRW | 3,914,956,541 | USD | 3,268,251 | Citibank, NA** | 3/22/2022 | (13,701 | ) | |||||||||||||||
MXN | 16,783,408 | USD | 818,330 | Goldman Sachs International | 3/22/2022 | (1,833 | ) | |||||||||||||||
PLN | 16,861,746 | USD | 4,171,771 | Goldman Sachs International | 3/22/2022 | (161,430 | ) | |||||||||||||||
RUB | 64,468,833 | USD | 807,374 | Goldman Sachs International** | 3/22/2022 | (214,082 | ) | |||||||||||||||
THB | 162,906,092 | USD | 5,010,183 | Goldman Sachs International | 3/22/2022 | (24,261 | ) | |||||||||||||||
USD | 10,736,828 | AUD | 15,118,950 | BNP Paribas | 3/22/2022 | (247,708 | ) | |||||||||||||||
USD | 14,686,477 | BRL | 77,114,433 | Citibank, NA** | 3/22/2022 | (198,452 | ) | |||||||||||||||
USD | 24,627,705 | CAD | 31,404,756 | Goldman Sachs International | 3/22/2022 | (151,536 | ) | |||||||||||||||
USD | 15,906,999 | CNY | 101,474,802 | Citibank, NA** | 3/22/2022 | (130,120 | ) | |||||||||||||||
USD | 3,234,283 | COP | 12,885,320,115 | BNP Paribas** | 3/22/2022 | (31,424 | ) | |||||||||||||||
USD | 3,314,873 | COP | 13,110,655,446 | Goldman Sachs International** | 3/22/2022 | (7,944 | ) | |||||||||||||||
USD | 1,594,503 | EUR | 1,433,542 | HSBC Bank, NA | 3/22/2022 | (14,283 | ) | |||||||||||||||
USD | 1,168,907 | IDR | 16,877,375,785 | Citibank, NA** | 3/22/2022 | (3,480 | ) |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 127 |
JPMorgan International Bond Opportunities ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
CURRENCY PURCHASED | CURRENCY SOLD | COUNTERPARTY | SETTLEMENT DATE |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
||||||||||||||||||
USD | 1,636,653 | ILS | 5,282,870 | Merrill Lynch International | 3/22/2022 | (9,652 | ) | |||||||||||||||
USD | 1,594,403 | INR | 121,051,861 | BNP Paribas** | 3/22/2022 | (7,521 | ) | |||||||||||||||
USD | 1,594,067 | INR | 121,051,861 | Citibank, NA** | 3/22/2022 | (7,857 | ) | |||||||||||||||
USD | 1,601,851 | INR | 121,051,861 | Goldman Sachs International** | 3/22/2022 | (74 | ) | |||||||||||||||
USD | 1,605,113 | KRW | 1,937,788,874 | Barclays Bank plc** | 3/22/2022 | (5,794 | ) | |||||||||||||||
USD | 6,740,969 | MXN | 138,607,736 | Citibank, NA | 3/22/2022 | (2,168 | ) | |||||||||||||||
USD | 2,873,336 | NZD | 4,356,615 | BNP Paribas | 3/22/2022 | (73,609 | ) | |||||||||||||||
USD | 1,629,712 | PHP | 83,980,676 | Goldman Sachs International** | 3/22/2022 | (7,887 | ) | |||||||||||||||
ZAR | 48,930,079 | USD | 3,234,564 | Goldman Sachs International | 3/22/2022 | (60,992 | ) | |||||||||||||||
ZAR | 49,828,360 | USD | 3,273,304 | HSBC Bank, NA | 3/22/2022 | (41,471 | ) | |||||||||||||||
EUR | 526,901 | USD | 592,034 | Barclays Bank plc | 4/5/2022 | (362 | ) | |||||||||||||||
EUR | 781,356 | USD | 878,386 | Citibank, NA | 4/5/2022 | (978 | ) | |||||||||||||||
EUR | 463,533 | USD | 525,515 | HSBC Bank, NA | 4/5/2022 | (5,000 | ) | |||||||||||||||
USD | 125,555,644 | EUR | 111,989,291 | BNP Paribas | 4/5/2022 | (200,439 | ) | |||||||||||||||
USD | 8,619,108 | GBP | 6,434,677 | BNP Paribas | 4/5/2022 | (15,534 | ) | |||||||||||||||
|
|
|||||||||||||||||||||
Total unrealized depreciation | (2,362,987 | ) | ||||||||||||||||||||
|
|
|||||||||||||||||||||
Net unrealized depreciation | (1,321,546 | ) | ||||||||||||||||||||
|
|
Abbreviations
AUD |
Australian Dollar | |
BRL |
Brazilian Real | |
CAD |
Canadian Dollar | |
CNY |
China Yuan | |
COP |
Colombian Peso | |
CZK |
Czech Republic Koruna | |
EUR |
Euro | |
GBP |
British Pound | |
HUF |
Hungarian Forint | |
IDR |
Indonesian Rupiah | |
ILS |
Israeli Shekel | |
INR |
Indian Rupee | |
KRW |
Korean Republic Won | |
MXN |
Mexican Peso | |
MYR |
Malaysian Ringgit | |
NZD |
New Zealand Dollar | |
PHP |
Philippines Peso | |
PLN |
Polish Zloty | |
RUB |
Russian Ruble | |
THB |
Thai Baht | |
USD |
United States Dollar | |
ZAR |
South African Rand | |
** |
Non-deliverable forward. |
SEE NOTES TO FINANCIAL STATEMENTS.
128 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
Over-the-Counter (“OTC”) Credit default swap contracts outstanding — buy protection (a) as of February 28, 2022:
REFERENCE OBLIGATION/INDEX |
FINANCING RATE PAID BY THE FUND (%) |
PAYMENT FREQUENCY |
COUNTERPARTY | MATURITY DATE |
IMPLIED CREDIT SPREAD (%) (b) |
NOTIONAL AMOUNT (c) |
UPFRONT PAYMENTS (RECEIPTS) ($) (d) |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
VALUE ($) |
|||||||||||||||||||||||||||
Russian
Federation, |
1.00 | Quarterly | Barclays Bank plc | 12/20/2026 | 21.75 | USD | 356,000 | 3,884 | 162,238 | 166,122 | ||||||||||||||||||||||||||
Russian
Federation, |
1.00 | Quarterly | Barclays Bank plc | 12/20/2026 | 21.75 | USD | 356,000 | 3,402 | 162,720 | 166,122 | ||||||||||||||||||||||||||
Russian
Federation, |
1.00 | Quarterly | |
Goldman Sachs International |
|
12/20/2026 | 21.75 | USD | 189,000 | 2,827 | 85,367 | 88,194 | ||||||||||||||||||||||||
Russian
Federation, |
1.00 | Quarterly | |
Goldman Sachs International |
|
12/20/2026 | 21.75 | USD | 189,000 | 2,830 | 85,363 | 88,193 | ||||||||||||||||||||||||
Russian
Federation, |
1.00 | Quarterly | |
Goldman Sachs International |
|
12/20/2026 | 21.75 | USD | 566,000 | 8,867 | 255,249 | 264,116 | ||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
21,810 | 750,937 | 772,747 | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
Centrally Cleared Credit default swap contracts outstanding — buy protection (a) as of February 28, 2022:
REFERENCE OBLIGATION/INDEX |
FINANCING RATE PAID BY THE FUND (%) |
PAYMENT FREQUENCY |
MATURITY DATE |
IMPLIED CREDIT SPREAD (%) (b) |
NOTIONAL AMOUNT (c) |
UPFRONT PAYMENTS (RECEIPTS) ($) (d) |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
VALUE ($) |
||||||||||||||||||||||||
CDX.NA.EM.36-V1 |
1.00 | Quarterly | 12/20/2026 | 2.87 | USD | 480,000 | 17,351 | 20,158 | 37,509 | |||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||
iTraxx.Europe.Main.36-V1 |
1.00 | Quarterly | 12/20/2026 | 0.71 | EUR | 6,300,000 | (129,842 | ) | 18,849 | (110,993 | ) | |||||||||||||||||||||
iTraxx.Europe.Main.36-V1 |
1.00 | Quarterly | 12/20/2026 | 0.71 | EUR | 8,300,000 | (172,140 | ) | 25,912 | (146,228 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||
(301,982 | ) | 44,761 | (257,221 | ) | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||
(284,631 | ) | 64,919 | (219,712 | ) | ||||||||||||||||||||||||||||
|
|
|
|
|
|
Centrally Cleared Credit default swap contracts outstanding — sell protection (e) as of February 28, 2022:
REFERENCE OBLIGATION/INDEX |
FINANCING RATE PAID BY THE FUND (%) |
PAYMENT FREQUENCY |
MATURITY DATE |
IMPLIED CREDIT SPREAD (%) (b) |
NOTIONAL AMOUNT (c) |
UPFRONT PAYMENTS (RECEIPTS) ($) (d) |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
VALUE ($) |
||||||||||||||||||||||
iTraxx.Europe.Crossover.36-V1 |
5.00 | Quarterly | 12/20/2026 | 3.46 | EUR | 450,000 | 54,562 | (16,536 | ) | 38,026 | ||||||||||||||||||||
|
|
|
|
|
|
(a) |
The Fund, as a buyer of credit protection, is generally obligated to make periodic payments and may also pay or receive an upfront premium to or from the protection seller, in exchange for the right to receive a contingent payment, upon occurrence of a credit event with respect to an underlying reference obligation, as defined under the terms of individual swap contracts. |
(b) |
Implied credit spreads are an indication of the seller’s performance risk, related to the likelihood of a credit event occurring that would require a seller to make payment to a buyer. Implied credit spreads are used to determine the value of swap contracts and reflect the cost of buying/selling protection, which may include upfront payments made to enter into the contract. Therefore, higher spreads would indicate a greater likelihood that a seller will be obligated to perform (i.e. make payment) under the swap contract. Increasing values, in absolute terms and relative to notional amounts, are also indicative of greater performance risk. Implied credit spreads for credit default swaps on credit indices are linked to the weighted average spread across the underlying reference obligations included in a particular index. |
(c) |
The notional amount is the maximum amount that a seller of credit protection would be obligated to pay and a buyer of credit protection would receive, upon occurrence of a credit event. |
(d) |
Upfront payments and receipts generally represent premiums paid or received at the initiation of the agreement to compensate the differences between the stated terms of the swap agreement and current market conditions (credit spreads, interest rates and other relevant factors). |
(e) |
The Fund, as a seller of credit protection, receives periodic payments and may also receive or pay an upfront premium from or to the protection buyer, and is obligated to make a contingent payment, upon occurrence of a credit event with respect to an underlying reference obligation, as defined under the terms of individual swap contracts. |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 129 |
JPMorgan International Bond Opportunities ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
Centrally Cleared Interest rate swap contracts outstanding as of February 28, 2022: | ||||||||||||||||||||||||
FLOATING RATE INDEX (a) | FIXED RATE | PAY/ RECEIVE FLOATING RATE |
MATURITY DATE |
NOTIONAL AMOUNT |
UPFRONT PAYMENTS (RECEIPTS) ($) |
VALUE
AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
||||||||||||||||||
6 month EURIBOR semi-annually |
(0.08) annually | Receive | 12/21/2024 | EUR | 27,000,000 | — | 339,523 | |||||||||||||||||
6 month EURIBOR semi-annually |
0.11 annually | Receive | 12/14/2031 | EUR | 6,900,000 | — | 487,236 | |||||||||||||||||
6 month EURIBOR semi-annually |
0.83 annually | Pay | 2/15/2032 | EUR | 7,200,000 | — | 37,071 | |||||||||||||||||
1 day SONIA annually |
1.05 annually | Receive | 1/26/2032 | GBP | 5,500,000 | — | 69,266 | |||||||||||||||||
1 day SONIA annually |
1.12 annually | Receive | 3/16/2032 | GBP | 6,200,000 | — | 220,765 | |||||||||||||||||
3 month LIBOR quarterly |
1.80 semi-annually | Receive | 6/24/2051 | USD | 2,850,000 | — | 96,120 | |||||||||||||||||
|
|
|
|
|||||||||||||||||||||
— | 1,249,981 | |||||||||||||||||||||||
|
|
|
|
|||||||||||||||||||||
1 day TONAR annually |
0.27 annually | Receive | 3/16/2032 | JPY | 950,000,000 | — | (46,187 | ) | ||||||||||||||||
6 month EURIBOR semi-annually |
0.66 annually | Pay | 1/28/2032 | EUR | 6,000,000 | — | (150,744 | ) | ||||||||||||||||
3 month LIBOR quarterly |
0.94 semi-annually | Pay | 6/24/2026 | USD | 4,325,000 | — | (151,512 | ) | ||||||||||||||||
1 day SONIA annually |
1.51 annually | Receive | 2/11/2032 | GBP | 3,250,000 | — | (46,612 | ) | ||||||||||||||||
|
|
|
|
|||||||||||||||||||||
— | (395,055 | ) | ||||||||||||||||||||||
|
|
|
|
|||||||||||||||||||||
— | 854,926 | |||||||||||||||||||||||
|
|
|
|
Abbreviations
CDX |
Credit Default Swap Index | |
EUR |
Euro | |
EURIBOR |
Euro Interbank Offered Rate | |
GBP |
British Pound | |
JPY |
Japanese Yen | |
LIBOR |
London Interbank Offered Rate | |
SONIA |
Sterling Overnight Index Average | |
TONAR |
Tokyo Overnight Average Rate | |
USD |
United States Dollar |
(a) |
Value of floating rate index at February 28, 2022 was as follows: |
FLOATING RATE INDEX | VALUE | |||
1 day SONIA |
0.45 | % | ||
1 day TONAR |
(0.00 | )(b) | ||
3 Month LIBOR |
0.50 | |||
6 Month EURIBOR |
(0.49 | ) |
(b) |
Amount rounds to less than 0.1%. |
Summary of total OTC swap contracts outstanding as of February 28, 2022:
NET UPFRONT PAYMENTS (RECEIPTS) ($) |
VALUE ($) |
|||||||
Assets |
||||||||
OTC Credit default swap contracts outstanding — buy protection |
21,810 | 772,747 | ||||||
|
|
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
130 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
JPMorgan Municipal ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds — 92.8% (a) |
||||||||
Alabama — 3.5% |
| |||||||
Black Belt Energy Gas District, Gas Prepay Project No. 5Series 2020A-1, Rev., 4.00%, 10/1/2026 (b) |
250,000 | 271,867 | ||||||
Black Belt Energy Gas District, Gas Project No. 6Series 2021B, Rev., 4.00%, 12/1/2026 (b) |
500,000 | 539,371 | ||||||
Black Belt Energy Gas District, Gas Project No. 7Series 2021C-1, Rev., 4.00%, 12/1/2026 (b) |
100,000 | 107,874 | ||||||
Black Belt Energy Gas District, Gas Project No. 8Series 2022A, Rev., 4.00%, 12/1/2029 (b) |
150,000 | 166,405 | ||||||
Black Belt Energy Gas District, Gas Supply Series 2017A, Rev., LIQ: Royal Bank of Canada, 4.00%, 7/1/2022 (b) |
30,000 | 30,225 | ||||||
City of Pell City, Warrants Series 2015A, GO, 5.00%, 2/1/2025 |
100,000 | 110,322 | ||||||
Selma Industrial Development Board, International Paper Co. Project Series 2020A, Rev., 1.37%, 6/16/2025 (b) |
100,000 | 99,391 | ||||||
Southeast Alabama Gas Supply District (The), Project No. 1 Series 2018A, Rev., 4.00%, 4/1/2024 (b) |
25,000 | 26,107 | ||||||
Southeast Energy Authority A Cooperative District, Project No. 2 Series 2021B, Rev., 4.00%, 12/1/2031 (b) |
1,815,000 | 2,058,974 | ||||||
University of Alabama (The), Huntsville General Fee Series B-2, Rev., 5.00%, 9/1/2031 |
95,000 | 113,563 | ||||||
|
|
|||||||
Total Alabama |
3,524,099 | |||||||
|
|
|||||||
Alaska — 0.5% |
| |||||||
Alaska Industrial Development and Export Authority, Tanana Chiefs Conference Project Series 2019A, Rev., 5.00%, 10/1/2024 |
200,000 | 216,961 | ||||||
Alaska Municipal Bond Bank Authority |
||||||||
Series 3, Rev., 5.00%, 10/1/2025 |
20,000 | 21,823 | ||||||
Series 3, Rev., 5.00%, 12/1/2028 |
225,000 | 259,030 | ||||||
|
|
|||||||
Total Alaska |
497,814 | |||||||
|
|
|||||||
Arizona — 2.4% |
| |||||||
Arizona Industrial Development Authority, Cadence Campus Project |
||||||||
Series 2020A, Rev., 4.00%, 7/15/2030 (c) |
125,000 | 132,772 | ||||||
Series 2020A, Rev., 4.00%, 7/15/2040 (c) |
125,000 | 129,913 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Arizona — continued |
| |||||||
Arizona Industrial Development Authority, Equitable School Revolving Fund Series A, Rev., 5.00%, 11/1/2044 |
250,000 | 287,548 | ||||||
Arizona Industrial Development Authority, Great Lakes Senior Living Communities LLC Project Series 2019A, Rev., 5.00%, 1/1/2036 |
250,000 | 234,364 | ||||||
Arizona Industrial Development Authority, Macombs Facility Project Series 2021A, Rev., 4.00%, 7/1/2051 |
125,000 | 131,854 | ||||||
Arizona Industrial Development Authority, Phoenix Children’s Hospital |
||||||||
Series 2020A, Rev., 5.00%, 2/1/2024 |
55,000 | 58,845 | ||||||
Series 2020A, Rev., 5.00%, 2/1/2025 |
70,000 | 77,120 | ||||||
Series 2020A, Rev., 5.00%, 2/1/2031 |
150,000 | 184,017 | ||||||
Series 2020A, Rev., 5.00%, 2/1/2032 |
200,000 | 244,482 | ||||||
City of Mesa GO, 5.00%, 7/1/2030 |
85,000 | 106,638 | ||||||
City of Mesa, Excise Tax |
||||||||
Rev., 5.00%, 7/1/2030 |
95,000 | 118,932 | ||||||
Rev., 5.00%, 7/1/2031 |
75,000 | 93,589 | ||||||
Rev., 5.00%, 7/1/2032 |
185,000 | 230,437 | ||||||
City of Phoenix Civic Improvement Corp., Junior Lien, Airport System Series 2017D, Rev., 5.00%, 7/1/2026 |
160,000 | 182,536 | ||||||
Maricopa County School District No. 3, Tempe Elementary, School Improvement, Project of 2016 Series 2017A, GO, 5.00%, 7/1/2027 |
30,000 | 35,303 | ||||||
Maricopa County Unified School District No. 95, Queen Creek, School Improvement |
||||||||
GO, 4.00%, 7/1/2027 |
40,000 | 45,140 | ||||||
GO, 4.00%, 7/1/2028 |
50,000 | 57,321 | ||||||
Salt Verde Financial Corp. Rev., 5.25%, 12/1/2026 |
100,000 | 114,392 | ||||||
|
|
|||||||
Total Arizona |
2,465,203 | |||||||
|
|
|||||||
Arkansas — 0.1% |
| |||||||
City of Fort Smith, Water and Sewer Construction Rev., 5.00%, 10/1/2024 |
75,000 | 81,838 | ||||||
|
|
|||||||
California — 7.6% |
| |||||||
Baldwin Park Financing Authority, Rail Crossings Safety Improvements Project Rev., 5.00%, 6/1/2024 |
100,000 | 108,266 | ||||||
Brentwood Infrastructure Financing Authority, Civic Center Project Rev., 5.00%, 10/1/2025 |
45,000 | 50,418 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 131 |
JPMorgan Municipal ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds — continued |
||||||||
California — continued |
| |||||||
California Health Facilities Financing Authority, Kaiser Permanente Series 2006C, Rev., 5.00%, 11/1/2029 (b) |
300,000 | 370,121 | ||||||
California Health Facilities Financing Authority, On Lok Senior Health Service |
||||||||
Rev., 3.00%, 8/1/2023 |
100,000 | 102,168 | ||||||
Rev., 5.00%, 8/1/2040 |
100,000 | 118,014 | ||||||
California Municipal Finance Authority, San Antonio Gardens Project Rev., 5.00%, 11/15/2039 |
150,000 | 166,550 | ||||||
California Municipal Finance Authority, Sewer Facilities Project Rev., AGM, 5.00%, 8/1/2024 |
100,000 | 108,954 | ||||||
California Public Finance Authority, Enso Village Project Series 2021B-1, Rev., 3.13%, 5/15/2029 (c) |
200,000 | 200,373 | ||||||
California State Public Works Board, Various Capital Projects Series 2020D, Rev., 5.00%, 11/1/2028 |
355,000 | 429,614 | ||||||
California Statewide Communities Development Authority, Emanate Health, Tax-Exempt Series 2020A, Rev., 5.00%, 4/1/2030 |
150,000 | 185,123 | ||||||
California Statewide Communities Development Authority, San Francisco Campus for Jewish Living Project |
||||||||
Rev., 4.00%, 11/1/2027 |
60,000 | 66,937 | ||||||
Rev., 4.00%, 11/1/2028 |
35,000 | 39,427 | ||||||
Rev., 4.00%, 11/1/2029 |
145,000 | 165,176 | ||||||
Chula Vista Municipal Financing Authority Rev., 4.00%, 5/1/2026 |
60,000 | 66,162 | ||||||
Chula Vista Municipal Financing Authority, Green Bond Series 2017B, Rev., 4.00%, 12/1/2028 |
45,000 | 51,845 | ||||||
City of Los Angeles Department of Airports, International Airport Senior |
||||||||
Series A, Rev., AMT, 5.00%, 5/15/2022 |
125,000 | 126,089 | ||||||
Series A, Rev., AMT, 5.00%, 5/15/2033 |
100,000 | 109,436 | ||||||
City of Los Angeles Department of Airports, International Airport Subordinate Series 2019E, Rev., AMT, 5.00%, 5/15/2026 |
10,000 | 11,424 | ||||||
City of Roseville, 316 Vernon Street Project COP, 5.00%, 8/1/2025 |
70,000 | 78,471 | ||||||
City of Santa Rosa, Courthouse Square Project and Lease COP, 4.00%, 10/1/2024 |
90,000 | 96,051 | ||||||
City of South Pasadena Rev., 5.00%, 10/1/2024 |
110,000 | 120,470 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
California — continued |
| |||||||
County of San Joaquin COP, AGM, 5.00%, 11/15/2027 |
150,000 | 178,644 | ||||||
County of Santa Clara, Election of 2008 Series 2017C, GO, 5.00%, 8/1/2033 |
40,000 | 47,048 | ||||||
CSCDA Community Improvement Authority, Essential Housing, Pasadena Portfolio Series 2021A-1, Rev., 2.65%, 12/1/2046 (c) |
255,000 | 231,633 | ||||||
Cucamonga Valley Water District Financing Authority |
||||||||
Series 2021B, Rev., 5.00%, 9/1/2032 |
190,000 | 243,572 | ||||||
Series 2021B, Rev., 4.00%, 9/1/2033 |
150,000 | 177,307 | ||||||
El Centro Financing Authority Series 2021B, Rev., 4.00%, 10/1/2023 |
210,000 | 218,728 | ||||||
El Monte City School District, Election of 2014 Series A, GO, 5.00%, 8/1/2025 |
55,000 | 61,460 | ||||||
Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Series 2018A-1, Rev., 5.00%, 6/1/2028 (d) |
250,000 | 299,917 | ||||||
Hermosa Beach City School District, Election of 2016 Series 2016A, GO, 4.00%, 8/1/2023 |
15,000 | 15,631 | ||||||
Huntington Beach Public Financing Authority Series 2020A, Rev., 5.00%, 5/1/2030 |
400,000 | 499,202 | ||||||
Indian Wells Financing Authority, Solar and Infrastructure Project |
||||||||
Rev., 5.00%, 4/1/2029 |
150,000 | 181,836 | ||||||
Rev., 5.00%, 4/1/2031 |
160,000 | 200,934 | ||||||
Lodi Public Financing Authority Rev., AGM, 5.00%, 9/1/2027 |
250,000 | 294,603 | ||||||
Metropolitan Water District of Southern California, Waterworks Series 2019A, Rev., 5.00%, 7/1/2034 |
25,000 | 30,320 | ||||||
Municipal Improvement Corp. of Los Angeles, Real Property Series 2014-A, Rev., 5.00%, 5/1/2023 (d) |
20,000 | 20,944 | ||||||
Northern California Power Agency, Hydroelectric Project Series 2019A, Rev., 5.00%, 7/1/2022 |
20,000 | 20,290 | ||||||
San Dieguito Union High School District, Election of 2012 Series A-2, GO, 5.00%, 8/1/2024 |
150,000 | 158,456 | ||||||
San Francisco City and County Airport Commission, San Francisco International Airport |
||||||||
Series 2016A, Rev., 5.00%, 5/1/2023 (d) |
105,000 | 109,893 |
SEE NOTES TO FINANCIAL STATEMENTS.
132 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds — continued |
||||||||
California — continued |
| |||||||
Series 2016A, Rev., 5.00%, 5/1/2026 |
95,000 | 108,127 | ||||||
San Jose Evergreen Community College District Series A, GO, 5.00%, 9/1/2022 |
100,000 | 102,170 | ||||||
San Jose Evergreen Community College District, Election of 2010 Series C, GO, 5.00%, 9/1/2024 (d) |
105,000 | 114,782 | ||||||
San Ramon Valley Fire Protection District, Public Safety Complex and Fire Training Facility Projects |
||||||||
COP, 4.00%, 8/1/2023 |
55,000 | 57,219 | ||||||
COP, 4.00%, 8/1/2032 |
125,000 | 144,674 | ||||||
Sanger Unified School District |
||||||||
COP, AGM, 5.00%, 6/1/2034 (e) |
400,000 | 501,342 | ||||||
COP, AGM, 5.00%, 6/1/2035 (e) |
425,000 | 531,573 | ||||||
Santa Cruz County Capital Financing Authority Series 2020A, Rev., 4.00%, 6/1/2025 |
100,000 | 108,627 | ||||||
Sequoia Union High School District GO, 5.00%, 7/1/2027 |
25,000 | 28,850 | ||||||
Sierra View Local Health Care District Rev., 4.00%, 7/1/2023 |
165,000 | 170,719 | ||||||
|
|
|||||||
Total California |
7,629,590 | |||||||
|
|
|||||||
Colorado — 4.0% |
| |||||||
Colorado Educational & Cultural Facilities Authority, Aspen View Academy Project Rev., 4.00%, 5/1/2036 |
85,000 | 91,453 | ||||||
Colorado Educational and Cultural Facilities Authority, Vega Collegiate Academy Project Rev., 5.00%, 2/1/2051 (c) |
150,000 | 159,286 | ||||||
Colorado Health Facilities Authority, Boulder Community Health Project |
||||||||
Rev., 5.00%, 10/1/2022 |
125,000 | 127,988 | ||||||
Rev., 5.00%, 10/1/2023 |
175,000 | 185,341 | ||||||
Colorado Health Facilities Authority, Tax Exempt Series 2021B-3, Rev., 2.13%, 5/15/2028 |
295,000 | 291,859 | ||||||
Colorado Health Facilities Authority, The Evangelical Lutheran Good Samaritan Society Project Rev., 5.00%, 6/1/2026 (d) |
210,000 | 240,094 | ||||||
Colorado Higher Education, Capital Construction, Lease Purchase Financing Program Series 2014A, COP, 5.00%, 11/1/2025 |
10,000 | 11,233 | ||||||
Crystal Valley Metropolitan District No. 2, Limited Tax |
||||||||
Series 2020A, GO, AGM, 5.00%, 12/1/2022 |
50,000 | 51,533 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Colorado — continued |
| |||||||
Series 2020A, GO, AGM, 5.00%, 12/1/2023 |
135,000 | 143,692 | ||||||
Series 2020A, GO, AGM, 5.00%, 12/1/2024 |
175,000 | 191,634 | ||||||
El Paso County School District No. 49 Falcon COP, 5.00%, 12/15/2028 |
170,000 | 204,668 | ||||||
Regional Transportation District Sales Tax, Fastracks ProjectSeries 2013A, Rev., 5.00%, 11/1/2029 |
215,000 | 265,775 | ||||||
Regional Transportation District, Denver Transit Partners |
||||||||
Rev., 5.00%, 7/15/2029 |
130,000 | 154,712 | ||||||
Rev., 5.00%, 1/15/2030 |
170,000 | 203,911 | ||||||
Rev., 5.00%, 7/15/2030 |
115,000 | 138,995 | ||||||
Rev., 5.00%, 1/15/2031 |
250,000 | 304,601 | ||||||
Rev., 4.00%, 7/15/2036 |
185,000 | 206,367 | ||||||
Southlands Metropolitan District No. 1 Series A-1, GO, 5.00%, 12/1/2037 |
250,000 | 269,510 | ||||||
State of Colorado Series 2018A, COP, 5.00%, 12/15/2030 |
115,000 | 139,117 | ||||||
STC Metropolitan District No. 2, Limited Tax Improvement Series 2019A, GO, 5.00%, 12/1/2038 |
300,000 | 317,245 | ||||||
University of Colorado, Enterprise System |
||||||||
Series A-2, Rev., 5.00%, 6/1/2026 |
40,000 | 45,964 | ||||||
Series 2021C-3B, Rev., 2.00%, 10/15/2026 (b) |
250,000 | 251,928 | ||||||
|
|
|||||||
Total Colorado |
3,996,906 | |||||||
|
|
|||||||
Connecticut — 0.7% |
| |||||||
Connecticut State Health and Educational Facilities Authority, Sacred Heart University Series K, Rev., 5.00%, 7/1/2022 |
250,000 | 253,547 | ||||||
State of Connecticut Series A, GO, 5.00%, 4/15/2033 |
135,000 | 156,274 | ||||||
State of Connecticut, Special Tax Transportation Infrastructure Purposes |
||||||||
Series 2020A, Rev., 5.00%, 5/1/2023 |
200,000 | 209,487 | ||||||
Series B, Rev., 5.00%, 8/1/2023 |
75,000 | 79,195 | ||||||
|
|
|||||||
Total Connecticut |
698,503 | |||||||
|
|
|||||||
Delaware — 0.4% |
| |||||||
Delaware State Economic Development Authority, Newark Charter School, Inc. Project |
||||||||
Rev., 4.00%, 9/1/2025 |
100,000 | 106,738 | ||||||
Rev., 4.00%, 9/1/2026 |
140,000 | 151,184 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 133 |
JPMorgan Municipal ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds — continued |
||||||||
Delaware — continued |
| |||||||
Delaware State Health Facilities Authority, Bayhealth Medical Center Project Series 2017A, Rev., 5.00%, 7/1/2024 |
100,000 | 108,164 | ||||||
Delaware Transportation Authority, Transportation System Rev., 5.00%, 7/1/2022 |
40,000 | 40,589 | ||||||
|
|
|||||||
Total Delaware |
406,675 | |||||||
|
|
|||||||
District of Columbia — 1.7% |
| |||||||
District of Columbia, Income Tax Series 2020C, Rev., 5.00%, 5/1/2033 |
1,000,000 | 1,243,465 | ||||||
District of Columbia, International School |
||||||||
Rev., 5.00%, 7/1/2028 |
115,000 | 132,449 | ||||||
Rev., 5.00%, 7/1/2039 |
125,000 | 143,649 | ||||||
District of Columbia, Kipp DC Project Rev., 4.00%, 7/1/2039 |
100,000 | 108,597 | ||||||
District of Columbia, Water and Sewer Authority, Public Utility, Senior Lien Series B, Rev., 5.00%, 10/1/2025 |
65,000 | 73,432 | ||||||
|
|
|||||||
Total District of Columbia |
1,701,592 | |||||||
|
|
|||||||
Florida — 4.7% |
| |||||||
Charlotte County Industrial Development Authority, Town and Country Utilities Project Series 2021A, Rev., AMT, 4.00%, 10/1/2041 (c) |
100,000 | 102,952 | ||||||
City of Cape Coral, Water & Sewer Rev., 5.00%, 10/1/2022 |
25,000 | 25,604 | ||||||
City of Jacksonville |
||||||||
Series 2022A, Rev., 5.00%, 10/1/2031 (e) |
250,000 | 308,137 | ||||||
Series 2022A, Rev., 5.00%, 10/1/2032 (e) |
200,000 | 250,560 | ||||||
City of Melbourne GO, 5.00%, 7/1/2030 |
520,000 | 650,541 | ||||||
City of Miami Beach, Water & Sewer Rev., 5.00%, 9/1/2033 |
25,000 | 29,403 | ||||||
City of Orlando, Capital Improvement |
||||||||
Series D, Rev., 5.00%, 10/1/2022 |
75,000 | 76,877 | ||||||
Series B, Rev., 5.00%, 10/1/2024 |
60,000 | 65,711 | ||||||
City of Pompano Beach, John Knox Village Project Rev., 3.50%, 9/1/2030 |
200,000 | 205,268 | ||||||
City of Tampa, H. Lee Moffitt Cancer Center Project |
||||||||
Series 2020B, Rev., 5.00%, 7/1/2022 |
50,000 | 50,713 | ||||||
Series 2020B, Rev., 5.00%, 7/1/2023 |
50,000 | 52,594 | ||||||
Series 2020B, Rev., 5.00%, 7/1/2024 |
50,000 | 54,178 | ||||||
County of Broward, Port Facilities Series 2019A, Rev., 5.00%, 9/1/2030 |
50,000 | 61,303 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Florida — continued |
| |||||||
County of Hillsborough, Communications Services Tax Rev., 5.00%, 10/1/2024 |
40,000 | 43,829 | ||||||
County of Lee Series 2021A, Rev., AMT, 5.00%, 10/1/2031 |
400,000 | 490,743 | ||||||
County of Okaloosa, Sales Tax Rev., 5.00%, 10/1/2024 |
30,000 | 32,831 | ||||||
County of Osceola, Sales Tax Series 2016A, Rev., 4.00%, 10/1/2023 |
10,000 | 10,430 | ||||||
County of Palm Beach, Palm Beach Atlantic University |
||||||||
Rev., 5.00%, 4/1/2029 (c) |
100,000 | 109,790 | ||||||
Rev., 5.00%, 4/1/2039 (c) |
100,000 | 110,057 | ||||||
County of Seminole, Special Obligation Rev., 4.00%, 10/1/2024 |
90,000 | 96,288 | ||||||
East Central Regional Wastewater Treatment Facilities Operation Board, Biosolids Project Rev., 5.00%, 10/1/2024 |
30,000 | 32,831 | ||||||
Florida Atlantic University Finance Corp., Student Housing Project Series 2019B, Rev., 5.00%, 7/1/2032 |
250,000 | 297,885 | ||||||
Florida Department of Environmental Protection Series 2017A, Rev., 5.00%, 7/1/2024 |
45,000 | 48,901 | ||||||
Florida Development Finance Corp., Educational Facilities, River City Science Academy Projects Rev., 4.00%, 7/1/2035 |
325,000 | 344,125 | ||||||
Florida Development Finance Corp., The Glenridge on Palmer Ranch Project Rev., 3.00%, 6/1/2023 |
115,000 | 116,308 | ||||||
Monroe County School District Series 2018A, COP, 4.00%, 6/1/2025 |
45,000 | 48,748 | ||||||
Orange County School Board Series 2015D, COP, 5.00%, 8/1/2025 |
25,000 | 27,963 | ||||||
Palm Beach County Health Facilities Authority, Acts Retirement Life Communities, Inc., Obligated Group Rev., 5.00%, 11/15/2032 |
240,000 | 272,850 | ||||||
Pinellas County Industrial Development Authority, Drs. Kiran & Pallavi Patel 2017 Foundation for Global Understanding, Inc., Project Rev., 5.00%, 7/1/2029 |
125,000 | 137,013 | ||||||
Reedy Creek Improvement District, Ad Valorem Tax Series 2016-A, GO, 5.00%, 6/1/2026 |
50,000 | 57,165 | ||||||
Seminole County Industrial Development Authority, Galileo Schools for Gifted Learning Series 2021A, Rev., 4.00%, 6/15/2036 (c) |
155,000 | 164,631 |
SEE NOTES TO FINANCIAL STATEMENTS.
134 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds — continued |
||||||||
Florida — continued |
| |||||||
State of Florida Board of Education, Public Education Capital Outlay |
||||||||
Series B, GO, 5.00%, 6/1/2024 |
30,000 | 32,550 | ||||||
Series B, GO, 5.00%, 6/1/2026 |
20,000 | 22,973 | ||||||
Series B, GO, 5.00%, 6/1/2031 |
75,000 | 88,044 | ||||||
State of Florida, State Board of Education, Lottery |
||||||||
Series 2016B, Rev., 5.00%, 7/1/2023 |
40,000 | 42,163 | ||||||
Series 2016A, Rev., 5.00%, 7/1/2026 |
75,000 | 86,379 | ||||||
Tampa Bay Water, Regional Water Supply Authority, Utility System Series C, Rev., 5.00%, 10/1/2025 |
55,000 | 62,011 | ||||||
Tampa-Hillsborough County Expressway Authority Series B, Rev., 5.00%, 7/1/2031 |
40,000 | 48,064 | ||||||
Tohopekaliga Water Authority, Utility System Rev., 5.00%, 10/1/2025 |
10,000 | 11,297 | ||||||
|
|
|||||||
Total Florida |
4,769,710 | |||||||
|
|
|||||||
Georgia — 2.1% |
| |||||||
Albany-Dougherty Inner City Authority, State University Projects Rev., 5.00%, 7/1/2023 |
410,000 | 430,547 | ||||||
Carroll City-County Hospital Authority, Tanner Medical Center Project Rev., GTD, 4.00%, 7/1/2024 |
200,000 | 212,948 | ||||||
Clayton County Development Authority, Clayton State University Rev., 5.00%, 7/1/2034 |
225,000 | 278,986 | ||||||
Cobb County, Kennestone Hospital Authority, Wellstar Health System, Inc., Project Series 2020B, Rev., 5.00%, 4/1/2022 |
150,000 | 150,526 | ||||||
County of DeKalb, Water and Sewerage Series 2006B, Rev., 5.25%, 10/1/2026 |
25,000 | 29,216 | ||||||
Forsyth County Water and Sewerage Authority Rev., 5.00%, 4/1/2032 |
145,000 | 177,804 | ||||||
Glynn-Brunswick Memorial Hospital Authority, Southeast Georgia Health System Project Rev., 4.00%, 8/1/2037 |
255,000 | 288,665 | ||||||
Milledgeville and Baldwin County Development Authority, Georgia College and State University Projects Rev., 5.00%, 6/15/2029 |
435,000 | 525,447 | ||||||
|
|
|||||||
Total Georgia |
2,094,139 | |||||||
|
|
|||||||
Hawaii — 0.2% |
| |||||||
City and County of Honolulu, Tax-Exempt Series D, GO, 5.00%, 9/1/2032 |
45,000 | 52,796 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Hawaii — continued |
| |||||||
State of Hawaii |
||||||||
Series EE, GO, 5.00%, 11/1/2022 (d) |
15,000 | 15,422 | ||||||
Series EP, GO, 5.00%, 8/1/2023 |
40,000 | 42,232 | ||||||
Series FK, GO, 5.00%, 5/1/2033 |
30,000 | 34,938 | ||||||
State of Hawaii, Highway Fund Series B, Rev., 5.00%, 1/1/2027 |
25,000 | 28,759 | ||||||
|
|
|||||||
Total Hawaii |
174,147 | |||||||
|
|
|||||||
Illinois — 3.1% |
| |||||||
Champaign County Community Unit School District No. 4 Champaign, School Building GO, 5.00%, 1/1/2027 |
45,000 | 51,132 | ||||||
Chicago O’Hare International Airport, General Airport, Senior Lien Series 2017B, Rev., 5.00%, 1/1/2034 |
40,000 | 45,934 | ||||||
City of Decatur GO, 5.00%, 3/1/2027 |
130,000 | 147,591 | ||||||
Cook and DuPage Counties, Village of Elk Grove GO, 5.00%, 1/1/2029 |
25,000 | 29,015 | ||||||
Illinois Finance Authority, Clean Water Initiative Revolving Fund Rev., 5.00%, 7/1/2032 |
35,000 | 40,322 | ||||||
Illinois Finance Authority, Social Bonds-Learn Chapter School Project Rev., 4.00%, 11/1/2024 |
135,000 | 141,936 | ||||||
Illinois State Toll Highway Authority |
||||||||
Series D, Rev., 5.00%, 1/1/2024 |
25,000 | 26,702 | ||||||
Series 2019A, Rev., 5.00%, 1/1/2036 |
250,000 | 301,671 | ||||||
Kane McHenry Cook and De Kalb Counties Unit School District No. 300 GO, 5.00%, 1/1/2024 |
35,000 | 37,364 | ||||||
Kendall and Kane Counties Community Unit School District No. 115 Series 2017B, GO, 5.00%, 1/1/2027 |
25,000 | 29,003 | ||||||
Lake County Forest Preserve District GO, 5.00%, 12/15/2028 |
165,000 | 198,505 | ||||||
McLean and Woodford Counties Community Unit School District No. 5 Normal Series 2017A, GO, 4.00%, 12/1/2023 |
80,000 | 83,631 | ||||||
Northern Illinois University, Auxiliary Facilities System Series 2020B, Rev., 5.00%, 4/1/2034 |
200,000 | 240,032 | ||||||
Northern Illinois University, Board of Trustees, Auxiliary Facilities System |
||||||||
Rev., 5.00%, 10/1/2029 |
300,000 | 360,091 | ||||||
Rev., 5.00%, 10/1/2030 |
325,000 | 396,030 | ||||||
Southwestern Illinois Development Authority, Flood Prevention District Council Project Rev., 5.00%, 4/15/2030 |
625,000 | 765,019 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 135 |
JPMorgan Municipal ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds — continued |
||||||||
Illinois — continued |
| |||||||
State of Illinois |
||||||||
GO, 5.00%, 4/1/2024 |
30,000 | 32,190 | ||||||
Series 2018A, GO, 5.00%, 10/1/2024 |
30,000 | 32,615 | ||||||
Village of Bolingbrook Series 2018A, GO, AGM, 5.00%, 1/1/2033 |
125,000 | 147,441 | ||||||
Will & Kendall Counties Community Consolidated School District 202 Plainfield GO, 4.00%, 1/1/2023 |
10,000 | 10,262 | ||||||
|
|
|||||||
Total Illinois |
3,116,486 | |||||||
|
|
|||||||
Indiana — 2.4% |
| |||||||
Adams Central Elementary School Building Corp., Ad Valorem Property Tax First Mortgage Rev., 5.00%, 1/15/2027 |
20,000 | 23,062 | ||||||
Ball State University, Student Fee Series R, Rev., 5.00%, 7/1/2024 |
35,000 | 37,984 | ||||||
City of Goshen, Multi-Family, Green Oaks of Goshen ProjectSeries 2021A, Rev., 5.00%, 8/1/2041 (c) |
250,000 | 227,955 | ||||||
City of Valparaiso Rev., 5.38%, 12/1/2041 (c) |
200,000 | 183,680 | ||||||
Decatur County, Jail Building Corp. Rev., 5.00%, 7/15/2028 |
250,000 | 294,147 | ||||||
Hamilton Southeastern Consolidated School Building Corp., Ad Valorem Property Tax First Mortgage Rev., 5.00%, 7/15/2026 |
25,000 | 28,663 | ||||||
Indiana Finance Authority |
||||||||
Series C, Rev., 5.00%, 12/1/2025 |
35,000 | 39,676 | ||||||
Series 2016C, Rev., 5.00%, 6/1/2027 |
220,000 | 256,005 | ||||||
Indiana Finance Authority, Educational Facilities, Valparaiso University Project Rev., 4.00%, 10/1/2035 |
215,000 | 237,574 | ||||||
Indiana Finance Authority, Indiana University Health Obligated Group Series 2016A, Rev., 5.00%, 12/1/2022 |
10,000 | 10,316 | ||||||
Indiana Finance Authority, Rose-Hulman Institute of Technology Project |
||||||||
Rev., 5.00%, 6/1/2032 |
140,000 | 168,488 | ||||||
Rev., 4.00%, 6/1/2034 |
115,000 | 128,355 | ||||||
Indiana State University, Housing and Dining System |
||||||||
Rev., 5.00%, 4/1/2028 |
120,000 | 142,071 | ||||||
Rev., 5.00%, 4/1/2031 |
75,000 | 87,049 | ||||||
Indiana State University, Student Fee Series R, Rev., 5.00%, 10/1/2022 |
10,000 | 10,244 | ||||||
Indiana University Series A, Rev., 5.00%, 6/1/2022 |
25,000 | 25,278 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Indiana — continued |
| |||||||
Indiana University, Student Fee Series Y, Rev., 5.00%, 8/1/2028 |
25,000 | 29,494 | ||||||
IPS Multi-School Building Corp., Indiana Unlimited Ad Valorem Property Tax, First Mortgage Rev., 5.00%, 7/15/2029 |
50,000 | 60,565 | ||||||
Monroe County Community School Corp. GO, 5.00%, 7/15/2027 |
250,000 | 291,526 | ||||||
Perry Township Multi School Building Corp., Ad Valorem Property Tax First Mortgage Rev., 5.00%, 7/15/2025 |
35,000 | 39,001 | ||||||
Portage Township Multi-School Building Corp., Ad Valorem Property Tax First Mortgage Rev., 5.00%, 7/15/2028 |
75,000 | 89,407 | ||||||
|
|
|||||||
Total Indiana |
2,410,540 | |||||||
|
|
|||||||
Iowa — 0.1% |
| |||||||
City of Cedar Rapids, Sewer Series 2018D, Rev., 5.00%, 6/1/2022 |
70,000 | 70,770 | ||||||
City of West Des Moines, Urban Renewal Series 2016B, GO, 5.00%, 6/1/2024 |
35,000 | 37,950 | ||||||
Iowa Finance Authority, State Revolving Fund Rev., 5.00%, 8/1/2027 |
30,000 | 35,525 | ||||||
|
|
|||||||
Total Iowa |
144,245 | |||||||
|
|
|||||||
Kansas — 0.1% |
| |||||||
Johnson County Water District No. 1 Series 2017A, Rev., 5.00%, 1/1/2025 |
50,000 | 55,131 | ||||||
|
|
|||||||
Kentucky — 1.8% |
| |||||||
Kentucky Economic Development Finance Authority, Baptist Healthcare System Obligated Group Series B, Rev., 5.00%, 8/15/2029 |
165,000 | 192,738 | ||||||
Kentucky Public Energy Authority, Gas Supply |
||||||||
Series 2022A-1, Rev., 4.00%, 3/8/2022 (b) (e) |
750,000 | 837,598 | ||||||
Series 2018C-1, Rev., 4.00%, 6/1/2025 (b) |
580,000 | 618,223 | ||||||
Louisville and Jefferson County Metropolitan Government, Norton Healthcare, Inc. Series 2016-A, Rev., 4.00%, 10/1/2036 |
65,000 | 70,684 | ||||||
Louisville and Jefferson County Metropolitan Sewer District, Sewer and Drainage System |
||||||||
Series B, Rev., 5.00%, 5/15/2024 |
25,000 | 27,069 | ||||||
Series 2017A, Rev., 5.00%, 5/15/2027 |
40,000 | 46,393 | ||||||
|
|
|||||||
Total Kentucky |
1,792,705 | |||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
136 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds — continued |
||||||||
Louisiana — 1.3% |
| |||||||
City of Shreveport, Water and Sewer, Junior Lien Series 2019B, Rev., AGM, 5.00%, 12/1/2032 |
200,000 | 237,879 | ||||||
Louisiana Local Government Environmental Facilities and Community Development Authority, Calcasieu Parish Projects Rev., 5.00%, 12/1/2030 |
250,000 | 305,392 | ||||||
Louisiana Public Facilities Authority, Materra Campus Project Series 2021C, Rev., 4.00%, 6/1/2031 (c) |
245,000 | 249,882 | ||||||
Louisiana Public Facilities Authority, Tulane University Project |
||||||||
Series 2020A, Rev., 5.00%, 4/1/2029 |
220,000 | 264,263 | ||||||
Series 2020A, Rev., 5.00%, 4/1/2030 |
135,000 | 165,024 | ||||||
State of Louisiana Series 2016-B, GO, 4.00%, 8/1/2026 |
30,000 | 33,268 | ||||||
State of Louisiana Gasoline and Fuels Tax Series 2012A-1, Rev., 5.00%, 5/1/2022 (d) |
55,000 | 55,404 | ||||||
|
|
|||||||
Total Louisiana |
1,311,112 | |||||||
|
|
|||||||
Maine — 0.5% |
| |||||||
Maine Health and Higher Educational Facilities Authority |
||||||||
Series 2020A, Rev., 4.00%, 7/1/2022 (d) |
225,000 | 227,490 | ||||||
Series 2020A, Rev., 5.00%, 7/1/2023 (d) |
125,000 | 131,539 | ||||||
Maine Municipal Bond Bank |
||||||||
Series C, Rev., 5.00%, 11/1/2024 |
75,000 | 82,348 | ||||||
Series 2018A, Rev., GAN, 5.00%, 9/1/2026 |
45,000 | 51,978 | ||||||
|
|
|||||||
Total Maine |
493,355 | |||||||
|
|
|||||||
Maryland — 1.5% |
| |||||||
County of Baltimore, Consolidated Public Improvement GO, 5.00%, 8/1/2022 (d) |
100,000 | 101,806 | ||||||
County of St. Mary’s, Public Improvement GO, 4.00%, 7/15/2027 |
70,000 | 79,278 | ||||||
Maryland Economic Development Corp., Bowie State University Project Rev., 4.00%, 7/1/2040 |
200,000 | 216,619 | ||||||
Maryland Health and Higher Educational Facilities Authority, Stevenson University Project |
||||||||
Rev., 5.00%, 6/1/2033 |
200,000 | 242,829 | ||||||
Rev., 4.00%, 6/1/2046 |
250,000 | 272,558 | ||||||
State of Maryland, Department of Transportation Rev., 5.00%, 9/1/2026 |
75,000 | 86,700 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Maryland — continued |
| |||||||
State of Maryland, State and Local Facilities Loan of 2017 Series 2017A, GO, 5.00%, 8/1/2025 |
45,000 | 50,574 | ||||||
State of Maryland, State and Local Facilities Loan of 2020 Series 2020A, GO, 5.00%, 8/1/2035 |
300,000 | 376,133 | ||||||
Washington Suburban Sanitary Commission, Consolidated Public Improvement Rev., GTD, 5.00%, 6/15/2030 |
40,000 | 47,008 | ||||||
|
|
|||||||
Total Maryland |
1,473,505 | |||||||
|
|
|||||||
Massachusetts — 1.8% |
| |||||||
City of Boston Series 2017A, GO, 5.00%, 4/1/2025 |
10,000 | 11,137 | ||||||
Commonwealth of Massachusetts Series C, GO, 5.00%, 10/1/2026 |
25,000 | 28,964 | ||||||
Massachusetts Bay Transportation Authority, Sales Tax Series A, Rev., 5.00%, 7/1/2022 |
20,000 | 20,291 | ||||||
Massachusetts Development Finance Agency, Mass General Brigham Issue Series 2020A-1, Rev., 5.00%, 1/31/2030 (b) |
500,000 | 611,930 | ||||||
Massachusetts Development Finance Agency, Milford Regional Medical Center Series G, Rev., 5.00%, 7/15/2037 (c) |
245,000 | 289,621 | ||||||
Massachusetts Development Finance Agency, Southcoast Health System Obligated Group Issue Series 2021G, Rev., 5.00%, 7/1/2035 |
200,000 | 249,238 | ||||||
Massachusetts Development Finance Agency, Wellforce Issue |
||||||||
Series 2020C, Rev., AGM, 5.00%, 10/1/2030 |
175,000 | 216,798 | ||||||
Series 2020C, Rev., AGM, 5.00%, 10/1/2031 |
215,000 | 265,574 | ||||||
Massachusetts State College Building Authority Series D, Rev., 5.00%, 5/1/2027 |
45,000 | 52,797 | ||||||
Town of Hopkinton, Municipal Purpose Loan GO, 5.00%, 11/15/2024 |
30,000 | 33,028 | ||||||
|
|
|||||||
Total Massachusetts |
1,779,378 | |||||||
|
|
|||||||
Michigan — 0.6% |
| |||||||
Berrien Springs Public Schools, School Building & Site, Unlimited Tax GO, Q-SBLF, 5.00%, 5/1/2030 |
250,000 | 307,705 | ||||||
City of Grand Rapids, Sanitary Sewer System Rev., 5.00%, 1/1/2030 |
30,000 | 37,378 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 137 |
JPMorgan Municipal ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds — continued |
||||||||
Michigan — continued |
| |||||||
Michigan Finance Authority, Lawrence Technological University Rev., 4.00%, 2/1/2032 |
95,000 | 103,025 | ||||||
Michigan State Hospital Finance Authority, Trinity Health Credit Group Series C, Rev., 5.00%, 12/1/2025 |
25,000 | 28,164 | ||||||
Western Michigan University, Tax Exempt Series 2021A, Rev., AGM, 5.00%, 11/15/2031 |
125,000 | 156,895 | ||||||
|
|
|||||||
Total Michigan |
633,167 | |||||||
|
|
|||||||
Minnesota — 0.4% |
| |||||||
Bloomington Independent School District No. 271, Bloomington Public Schools Series 2019A, GO, 5.00%, 2/1/2028 |
25,000 | 29,231 | ||||||
City of Bloomington Series 2021-55, GO, 5.00%, 2/1/2027 |
80,000 | 93,665 | ||||||
City of Hopkins Series 2017B, GO, 4.00%, 2/1/2025 |
20,000 | 21,513 | ||||||
City of Woodbury, Charter School Lease, Woodbury Leadership Academy Project Series 2021A, Rev., 4.00%, 7/1/2031 |
175,000 | 187,971 | ||||||
Duluth Economic Development Authority, Benedictine Health System Series 2021A, Rev., 3.00%, 7/1/2024 |
100,000 | 101,738 | ||||||
University of Minnesota Series B, Rev., 5.00%, 12/1/2025 |
15,000 | 16,986 | ||||||
|
|
|||||||
Total Minnesota |
451,104 | |||||||
|
|
|||||||
Mississippi — 0.2% |
| |||||||
Mississippi State University Educational Building Corp., New Facilities and Refinancing Project Rev., 5.00%, 8/1/2025 |
35,000 | 39,074 | ||||||
State of Mississippi |
||||||||
Series 2015F, GO, 5.00%, 11/1/2025 (d) |
35,000 | 39,528 | ||||||
Series B, GO, 5.00%, 12/1/2025 |
20,000 | 22,672 | ||||||
Series 2018A, GO, 5.00%, 11/1/2026 (d) |
60,000 | 69,638 | ||||||
University of Mississippi Educational Building Corp., Facilities Refinancing Project Series 2016A, Rev., 5.00%, 10/1/2030 |
40,000 | 45,787 | ||||||
|
|
|||||||
Total Mississippi |
216,699 | |||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Missouri — 1.1% |
| |||||||
Bi-State Development Agency of the Missouri-Illinois Metropolitan District, St. Clair County Metrolink Project Rev., AGM, 5.25%, 7/1/2024 |
40,000 | 43,590 | ||||||
City of Kansas City, Sanitary Sewer System Series B, Rev., 5.00%, 1/1/2033 |
25,000 | 29,671 | ||||||
Health and Educational Facilities Authority of the State of Missouri, City Art Institute Rev., 5.00%, 9/1/2030 |
200,000 | 235,489 | ||||||
Health and Educational Facilities Authority of the State of Missouri, St. Luke’s Episcopal-Presbyterian Hospitals Series 2015B, Rev., 5.00%, 12/1/2026 |
165,000 | 181,859 | ||||||
Health and Educational Facilities Authority of the State of Missouri, St. Luke’s Health System, Inc. Rev., 5.00%, 11/15/2029 |
300,000 | 340,621 | ||||||
Health and Educational Facilities Authority of the State of Missouri, Wright Memorial Hospital Rev., 5.00%, 9/1/2026 |
200,000 | 224,237 | ||||||
Metropolitan St. Louis Sewer District, Wastewater System Improvement Series 2017A, Rev., 5.00%, 5/1/2027 |
45,000 | 53,018 | ||||||
Missouri Development Finance Board, Fulton State Hospital Project Rev., 5.00%, 10/1/2025 |
25,000 | 27,393 | ||||||
|
|
|||||||
Total Missouri |
1,135,878 | |||||||
|
|
|||||||
Montana — 0.0% (f) |
| |||||||
County of Missoula GO, 4.00%, 7/1/2025 |
50,000 | 54,293 | ||||||
|
|
|||||||
Nebraska — 1.0% |
| |||||||
Central Plains Energy Project, Gas Project No. 3 Series 2017A, Rev., 5.00%, 9/1/2030 |
320,000 | 383,141 | ||||||
City of Lincoln, Electric System |
||||||||
Rev., 5.00%, 9/1/2026 |
85,000 | 97,780 | ||||||
Rev., 5.00%, 9/1/2028 |
50,000 | 58,509 | ||||||
City of Omaha, Sanitary Sewerage System Rev., 5.00%, 4/1/2027 |
50,000 | 57,148 | ||||||
Douglas County, Omaha School District No. 001 GO, 5.00%, 12/15/2026 |
30,000 | 35,051 | ||||||
Nebraska Educational Health Cultural and Social Services Finance Authority, Immanuel Retirement Communities Obligated Group Series 2019A, Rev., 4.00%, 1/1/2033 |
250,000 | 272,118 | ||||||
Omaha Public Power District, Electric System |
||||||||
Series B, Rev., 5.00%, 2/1/2025 |
20,000 | 21,791 |
SEE NOTES TO FINANCIAL STATEMENTS.
138 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds — continued |
||||||||
Nebraska — continued |
| |||||||
Series 2016A, Rev., 5.00%, 2/1/2026 |
40,000 | 45,491 | ||||||
Series 2016A, Rev., 5.00%, 2/1/2027 |
30,000 | 34,119 | ||||||
University of Nebraska Facilities Corp., UNMC Global Center Project Rev., 5.00%, 12/15/2025 |
35,000 | 39,775 | ||||||
|
|
|||||||
Total Nebraska |
1,044,923 | |||||||
|
|
|||||||
Nevada — 0.5% |
| |||||||
City of Sparks, Senior Sales Tax Series 2019A, Rev., 2.50%, 6/15/2024 (c) |
65,000 | 65,251 | ||||||
Clark County School District, Limited Tax |
||||||||
Series 2018A, GO, 5.00%, 6/15/2032 |
95,000 | 112,929 | ||||||
Series 2018A, GO, 4.00%, 6/15/2035 |
90,000 | 101,134 | ||||||
County of Clark, Indexed Fuel Tax and Subordinate Motor Vehicle Fuel Tax Rev., 5.00%, 7/1/2028 |
25,000 | 29,321 | ||||||
County of Clark, Passenger Facility Charge, Las Vegas-McCarran International Airport Passenger Facility Series 2019E, Rev., 5.00%, 7/1/2033 |
155,000 | 187,329 | ||||||
Truckee Meadows Water Authority Rev., 5.00%, 7/1/2029 |
50,000 | 58,782 | ||||||
|
|
|||||||
Total Nevada |
554,746 | |||||||
|
|
|||||||
New Hampshire — 0.3% |
| |||||||
New Hampshire Business Finance Authority, Springpoint Senior Living Project Rev., 4.00%, 1/1/2025 |
290,000 | 305,550 | ||||||
|
|
|||||||
New Jersey — 2.9% |
| |||||||
Burlington County Bridge Commission, Governmental Loan Program Rev., 5.00%, 4/1/2029 |
250,000 | 304,545 | ||||||
City of New Brunswick GO, 4.00%, 3/15/2024 |
10,000 | 10,554 | ||||||
City of North Wildwood GO, 5.00%, 8/1/2022 |
10,000 | 10,178 | ||||||
New Jersey Economic Development Authority, Biomedical Research Facilities Series 2016A, Rev., 5.00%, 7/15/2028 |
260,000 | 293,170 | ||||||
New Jersey Economic Development Authority, School Facilities Construction Series II, Rev., 5.00%, 3/1/2022 (d) |
115,000 | 115,000 | ||||||
New Jersey Transportation Trust Fund Authority Series 2020AA, Rev., 4.00%, 6/15/2035 |
130,000 | 142,704 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
New Jersey — continued |
| |||||||
New Jersey Transportation Trust Fund Authority, Transportation System Series 2018A, Rev., 4.00%, 12/15/2031 |
250,000 | 276,224 | ||||||
New Jersey Turnpike Authority Series D, Rev., 5.00%, 1/1/2028 |
200,000 | 227,965 | ||||||
Passaic County Improvement Authority (The), City of Paterson Project Rev., 5.00%, 6/15/2025 |
10,000 | 11,152 | ||||||
State of New Jersey, COVID-19 Emergency Bonds GO, 5.00%, 6/1/2028 |
1,000,000 | 1,187,896 | ||||||
Tobacco Settlement Financing Corp. Series 2018A, Rev., 5.00%, 6/1/2027 |
265,000 | 303,278 | ||||||
|
|
|||||||
Total New Jersey |
2,882,666 | |||||||
|
|
|||||||
New Mexico — 0.7% |
| |||||||
City of Albuquerque, General Purpose Series 2016A, GO, 5.00%, 7/1/2023 |
75,000 | 78,974 | ||||||
City of Albuquerque, Gross Receipts Tax Series 2015A, Rev., 5.00%, 7/1/2026 |
240,000 | 268,312 | ||||||
New Mexico Finance Authority, Senior Lien Public Project Revolving Fund |
||||||||
Series 2016C, Rev., 5.00%, 6/1/2022 |
30,000 | 30,330 | ||||||
Series 2016E, Rev., 5.00%, 6/1/2024 |
25,000 | 27,095 | ||||||
New Mexico Finance Authority, State Transportation, Subordinate Lien Series 2108A, Rev., 5.00%, 6/15/2027 |
100,000 | 117,832 | ||||||
New Mexico Hospital Equipment Loan Council, Presbyterian Healthcare Services Series 2015A, Rev., 5.00%, 8/1/2025 |
25,000 | 28,016 | ||||||
University of New Mexico (The), Subordinate Lien System Improvement Rev., 5.00%, 6/1/2028 |
140,000 | 163,820 | ||||||
|
|
|||||||
Total New Mexico |
714,379 | |||||||
|
|
|||||||
New York — 8.9% |
| |||||||
Broome County Local Development Corp., Good Shepherd Village at Endwell, Inc. Rev., 3.50%, 7/1/2026 |
210,000 | 220,503 | ||||||
Build NYC Resource Corp., New World Preparatory Charter School Project |
||||||||
Series 2021A, Rev., 4.00%, 6/15/2041 |
100,000 | 104,984 | ||||||
Series 2021A, Rev., 4.00%, 6/15/2051 |
150,000 | 155,053 | ||||||
City of New York, Fiscal Year 2008 Series 2008L, Subseries L-5, GO, 5.00%, 4/1/2034 |
300,000 | 372,866 | ||||||
City of New York, Fiscal Year 2013 |
||||||||
Series 2013J, GO, 5.00%, 8/1/2023 |
40,000 | 42,231 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 139 |
JPMorgan Municipal ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds — continued |
||||||||
New York — continued |
| |||||||
Series I, GO, 5.00%, 8/1/2023 |
25,000 | 26,395 | ||||||
City of New York, Fiscal Year 2014 Series 2014E, GO, 5.00%, 8/1/2027 |
35,000 | 36,897 | ||||||
City of New York, Fiscal Year 2017 Series C, GO, 4.00%, 8/1/2022 |
10,000 | 10,139 | ||||||
County of Onondaga GO, 5.00%, 3/15/2026 |
20,000 | 21,543 | ||||||
Dutchess County Local Development Corp., The Culinary Institute of America Rev., 5.00%, 7/1/2025 |
100,000 | 110,180 | ||||||
Erie County Water Authority Rev., 5.00%, 12/1/2027 |
30,000 | 34,985 | ||||||
Longwood Central School District, Suffolk County GO, 5.00%, 6/15/2025 |
175,000 | 196,473 | ||||||
Metropolitan Transportation Authority, Dedicated Tax Fund Series 2016A, Rev., 5.00%, 11/15/2023 |
315,000 | 335,638 | ||||||
Monroe County Industrial Development Corp., Highland Hospital of Rochester Project Rev., 5.00%, 7/1/2022 |
195,000 | 197,760 | ||||||
Monroe County Industrial Development Corp., Rochester Schools Modernization Project Rev., 5.00%, 5/1/2030 |
80,000 | 88,428 | ||||||
New York City Transitional Finance Authority, Building Aid, Fiscal Year 2019 Series S-2A, Rev., 5.00%, 7/15/2025 |
50,000 | 56,031 | ||||||
New York City Transitional Finance Authority, Future Tax Secured Series B, Subseries B-1, Rev., 5.00%, 8/1/2035 |
1,500,000 | 1,879,417 | ||||||
New York City Transitional Finance Authority, Future Tax Secured, Fiscal Year 2015 |
||||||||
Series C, Rev., 5.00%, 11/1/2022 |
25,000 | 25,695 | ||||||
Series 2015A-1, Rev., 5.00%, 8/1/2029 |
50,000 | 54,290 | ||||||
New York City Transitional Finance Authority, Future Tax Secured, Fiscal Year 2017 Series 2017E1, Rev., 5.00%, 2/1/2030 |
150,000 | 173,457 | ||||||
New York City Transitional Finance Authority, Future Tax Secured, Fiscal Year 2018 Series 1, Rev., 5.00%, 11/1/2026 |
25,000 | 29,016 | ||||||
New York City Transitional Finance Authority, Future Tax Secured, Fiscal Year 2019 Series 2019C-1, Rev., 5.00%, 11/1/2034 |
110,000 | 133,364 | ||||||
New York City Transitional Finance Authority, Future Tax Secured, Tax-Exempt, Fiscal Year 2013 |
||||||||
Series 2013G, Rev., 5.00%, 11/1/2026 |
30,000 | 31,355 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
New York — continued |
| |||||||
New York City Transitional Finance Authority, Future Tax Secured, Tax-Exempt, Fiscal Year 2014 Series D, Subseries D-1, Rev., 5.00%, 2/1/2026 |
30,000 | 32,133 | ||||||
New York City Transitional Finance Authority, Future Tax Secured, Tax-Exempt, Fiscal Year 2016 Subseries B-1, Rev., 5.00%, 11/1/2029 |
125,000 | 140,505 | ||||||
New York City Transitional Finance Authority, Future Tax Secured, Tax-Exempt, Fiscal Year 2017 |
||||||||
Series C, Rev., 4.00%, 11/1/2024 |
45,000 | 48,282 | ||||||
Subseries A-1, Rev., 5.00%, 5/1/2029 |
65,000 | 73,926 | ||||||
Series B, Subseries B-1, Rev., 5.00%, 8/1/2030 |
195,000 | 223,025 | ||||||
New York State Dormitory Authority, Columbia University Series B, Rev., 5.00%, 10/1/2038 |
25,000 | 29,789 | ||||||
New York State Dormitory Authority, Cornell University Series 2019D, Rev., 5.00%, 7/1/2033 |
135,000 | 179,355 | ||||||
New York State Dormitory Authority, Maimonides Medical Center, FHA-Insured Mortgage Hospital Rev., FHA, 5.00%, 8/1/2024 |
275,000 | 299,762 | ||||||
New York State Dormitory Authority, Montefiore Obligated Group Series 2020A, Rev., 4.00%, 9/1/2050 |
100,000 | 107,345 | ||||||
New York State Dormitory Authority, State Personal Income Tax, General Purpose |
||||||||
Series 2015E, Rev., 5.00%, 3/15/2022 |
25,000 | 25,041 | ||||||
Series 2015A, Rev., 4.00%, 3/15/2023 (d) |
25,000 | 25,804 | ||||||
Series 2018A, Rev., 5.00%, 3/15/2031 |
25,000 | 30,074 | ||||||
New York State Dormitory Authority, State University Dormitory Facilities Series 2018A, Rev., 5.00%, 7/1/2024 |
300,000 | 325,790 | ||||||
New York State Environmental Facilities Corp., State Clean Water and Drinking Water Revolving Funds, Municipal Water Finance Authority Projects — Second Resolution Series 2019B, Rev., 5.00%, 6/15/2031 |
100,000 | 123,191 | ||||||
New York State Urban Development Corp., State Personal Income Tax, General Purpose |
||||||||
Series 2016A, Rev., 5.00%, 3/15/2026 |
45,000 | 51,275 |
SEE NOTES TO FINANCIAL STATEMENTS.
140 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds — continued |
||||||||
New York — continued |
| |||||||
Series 2017A, Rev., 5.00%, 3/15/2026 |
125,000 | 142,430 | ||||||
Series 2020C, Rev., 5.00%, 3/15/2026 |
45,000 | 51,275 | ||||||
Series 2016A, Rev., 5.00%, 3/15/2027 |
30,000 | 34,208 | ||||||
Series 2013A-1, Rev., 5.00%, 3/15/2028 |
25,000 | 26,032 | ||||||
Series 2016A, Rev., 5.00%, 3/15/2028 |
75,000 | 85,331 | ||||||
Series 2017-A, Rev., 5.00%, 3/15/2028 |
150,000 | 175,614 | ||||||
New York State Urban Development Corp., State Sales Tax Series 2021A, Rev., 5.00%, 3/15/2036 |
580,000 | 730,847 | ||||||
Onondaga Civic Development Corp., Le Moyne College Project |
||||||||
Rev., 5.00%, 7/1/2027 |
100,000 | 114,857 | ||||||
Rev., 5.00%, 7/1/2028 |
210,000 | 244,680 | ||||||
Rev., 5.00%, 7/1/2031 |
360,000 | 436,324 | ||||||
Orange County Funding Corp., Mount Saint Mary College Project Series 2012B, Rev., 4.00%, 7/1/2023 |
200,000 | 201,198 | ||||||
Port Authority of New York and New Jersey, Consolidated Series 205, Rev., 5.00%, 11/15/2028 |
30,000 | 35,620 | ||||||
Smithtown Central School District GO, 5.00%, 8/1/2022 |
70,000 | 71,276 | ||||||
Suffolk County Economic Development Corp., St. Johnland Assisted Living Inc., Project Rev., 5.13%, 11/1/2041 (c) |
340,000 | 329,934 | ||||||
Westchester County Local Development Corp., Purchase Senior Learning Community, Inc. Project Series 2021D, Rev., 2.88%, 7/1/2026 (c) |
250,000 | 246,126 | ||||||
|
|
|||||||
Total New York |
8,977,749 | |||||||
|
|
|||||||
North Carolina — 1.0% |
| |||||||
County of Davidson GO, 5.00%, 6/1/2027 |
35,000 | 41,223 | ||||||
County of Duplin Rev., 5.00%, 6/1/2028 (e) |
165,000 | 194,540 | ||||||
County of Randolph, Limited Obligation Rev., 5.00%, 10/1/2030 |
245,000 | 307,919 | ||||||
County of Wayne, Limited Obligation Rev., 5.00%, 6/1/2024 |
25,000 | 27,072 | ||||||
North Carolina Turnpike Authority, Triangle Expressway System Rev., BAN, 5.00%, 2/1/2024 |
400,000 | 426,942 | ||||||
State of North Carolina, Build NC Programs, Limited Obligation Series C, Rev., 5.00%, 5/1/2024 |
25,000 | 27,024 | ||||||
|
|
|||||||
Total North Carolina |
1,024,720 | |||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Ohio — 5.0% |
| |||||||
Akron Bath Copley Joint Township Hospital District, Summa Health Obligated Group Rev., 5.00%, 11/15/2029 |
330,000 | 395,065 | ||||||
American Municipal Power, Inc., Greenup Hydroelectric Projects Series 2016A, Rev., 5.00%, 2/15/2030 |
25,000 | 28,093 | ||||||
Bowling Green State University, General Receipts Series 2016A, Rev., 5.00%, 6/1/2024 |
25,000 | 27,009 | ||||||
Buckeye Tobacco Settlement Financing Authority Series 2020A-2, Class 1, Rev., 4.00%, 6/1/2048 |
250,000 | 262,535 | ||||||
City of Middleburg Heights, Southwest General Health Center Project, Tax-Exempt Series 2020A, Rev., 4.00%, 8/1/2022 |
150,000 | 152,015 | ||||||
City of Reynoldsburg, Limited Tax, Capital Facilities GO, 5.00%, 12/1/2026 |
15,000 | 17,402 | ||||||
County of Warren, Healthcare Facilities, Otterbein Homes Obligated Group Series 2019A, Rev., 4.00%, 7/1/2033 |
205,000 | 227,735 | ||||||
Ohio Higher Educational Facility Commission, Denison University Project Series 2017A, Rev., 5.00%, 11/1/2025 |
75,000 | 84,417 | ||||||
Ohio Higher Educational Facility Commission, Tiffin University 2019 Project Rev., 5.00%, 11/1/2034 |
125,000 | 137,561 | ||||||
Ohio Higher Educational Facility Commission, University of Findlay 2019 Project |
||||||||
Rev., 5.00%, 3/1/2027 |
55,000 | 61,504 | ||||||
Rev., 5.00%, 3/1/2034 |
160,000 | 179,955 | ||||||
Ohio Higher Educational Facility Commission, Xavier University 2020 Project |
||||||||
Rev., 5.00%, 5/1/2023 |
195,000 | 203,483 | ||||||
Rev., 5.00%, 5/1/2024 |
245,000 | 262,975 | ||||||
Ohio Turnpike and Infrastructure Commission, Junior Lien |
||||||||
Series A, Rev., 5.00%, 2/15/2027 |
135,000 | 157,442 | ||||||
Series 2022A, Rev., 5.00%, 2/15/2033 (e) |
500,000 | 626,238 | ||||||
Ohio Water Development Authority, Drinking Water Assistance Series 2021A, Rev., 5.00%, 12/1/2033 |
625,000 | 797,127 | ||||||
Ohio Water Development Authority, Fresh Water Series 2016B, Rev., 5.00%, 6/1/2026 |
30,000 | 34,486 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 141 |
JPMorgan Municipal ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds — continued |
||||||||
Ohio — continued |
| |||||||
Ohio Water Development Authority, Water Pollution Control Loan Fund Series 2017A, Rev., 5.00%, 12/1/2026 |
45,000 | 52,432 | ||||||
South-Western City School District, School Facilities Construction and Improvement GO, 5.00%, 6/1/2022 (d) |
160,000 | 161,760 | ||||||
State of Ohio, Capital Facilities Lease Appropriation Mental Health Facilities Improvement Fund Projects Series 2018A, Rev., 5.00%, 6/1/2025 |
25,000 | 27,873 | ||||||
State of Ohio, Cleveland Clinic Health System Obligated Group Series 2017A, Rev., 5.00%, 1/1/2028 |
25,000 | 29,692 | ||||||
State of Ohio, Infrastructure Improvement Series 2018A, GO, 5.00%, 9/1/2028 |
25,000 | 30,323 | ||||||
State of Ohio, Natural Resources Series V, GO, 5.00%, 10/1/2027 |
35,000 | 41,567 | ||||||
Youngstown State University, General Receipts Rev., AGM, 4.00%, 12/15/2031 |
875,000 | 1,031,630 | ||||||
|
|
|||||||
Total Ohio |
5,030,319 | |||||||
|
|
|||||||
Oklahoma — 0.4% |
| |||||||
Cleveland County Educational Facilities Authority, Norman Public Schools Project Rev., 5.00%, 6/1/2025 |
150,000 | 167,138 | ||||||
Oklahoma Capitol Improvement Authority, Capitol Repair Project |
||||||||
Series C, Rev., 5.00%, 1/1/2030 |
10,000 | 11,745 | ||||||
Series 2018C, Rev., 5.00%, 1/1/2036 |
45,000 | 52,303 | ||||||
Oklahoma Capitol Improvement Authority, State Highway, Capital Improvement Rev., 5.00%, 7/1/2024 |
100,000 | 108,428 | ||||||
Oklahoma Water Resources Board, Clean Water Program Rev., 5.00%, 4/1/2023 |
35,000 | 36,536 | ||||||
|
|
|||||||
Total Oklahoma |
376,150 | |||||||
|
|
|||||||
Oregon — 1.4% |
| |||||||
County of Multnomah Series 2021A, GO, 5.00%, 6/15/2029 |
750,000 | 923,127 | ||||||
Hillsboro School District No. 1J GO, 5.00%, 6/15/2028 |
25,000 | 29,570 | ||||||
Salem Hospital Facility Authority, Capital Manor Project Rev., 4.00%, 5/15/2040 |
375,000 | 401,600 | ||||||
Tri-County Metropolitan Transportation District of Oregon, Senior Lien Payroll Tax Series 2018A, Rev., 5.00%, 9/1/2027 (d) |
45,000 | 53,445 | ||||||
|
|
|||||||
Total Oregon |
1,407,742 | |||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Pennsylvania — 4.1% |
| |||||||
Aliquippa School District, Limited Tax GO, 3.88%, 12/1/2037 |
200,000 | 218,502 | ||||||
Berks County Industrial Development Authority, The Highlands at Wyomissing Series 2017A, Rev., 5.00%, 5/15/2037 |
250,000 | 276,830 | ||||||
Bucks County Community College Authority Series 2019A, Rev., GTD, 5.00%, 6/15/2033 |
35,000 | 41,642 | ||||||
Chester County Industrial Development Authority, Longwood Gardens Project Rev., 4.00%, 12/1/2024 |
35,000 | 37,212 | ||||||
Commonwealth Financing Authority, Tobacco Master Settlement Payment Rev., 5.00%, 6/1/2035 |
225,000 | 263,127 | ||||||
County of Chester GO, 5.00%, 11/15/2027 |
30,000 | 35,874 | ||||||
County of Lehigh, Lehigh Valley Health Network Hospital Series 2016A, Rev., 4.00%, 7/1/2035 |
175,000 | 188,402 | ||||||
Delaware Valley Regional Finance Authority, Local Government Series 2021A, Rev., 2.00%, 10/1/2029 |
25,000 | 24,782 | ||||||
Erie City Water Authority Series 2019D, Rev., 5.00%, 12/1/2027 |
65,000 | 76,433 | ||||||
Geisinger Authority, Health System |
||||||||
Series 2020B, Rev., 5.00%, 2/15/2027 (b) |
250,000 | 286,790 | ||||||
Series 2020A, Rev., 4.00%, 4/1/2039 |
335,000 | 372,095 | ||||||
Lancaster County Hospital Authority, St. Anne’s Retirement Community, Inc., Project Rev., 5.00%, 3/1/2040 |
250,000 | 273,435 | ||||||
Montgomery County Higher Education and Health Authority, Arcadia University Rev., 5.00%, 4/1/2034 |
250,000 | 293,190 | ||||||
Montgomery County Higher Education and Health Authority, Thomas Jefferson University Series 2018A, Rev., 4.00%, 9/1/2038 |
135,000 | 147,892 | ||||||
Northampton County General Purpose Authority, Moravian College Project Rev., 5.00%, 10/1/2027 |
185,000 | 209,575 | ||||||
Pennsylvania Higher Educational Facilities Authority, State System of Higher Education Series 2017AU-1, Rev., 5.00%, 6/15/2026 |
70,000 | 80,144 | ||||||
Pennsylvania Turnpike Commission |
||||||||
Series A-1, Rev., 5.00%, 12/1/2029 |
105,000 | 124,352 | ||||||
Series A-1, Rev., 5.00%, 12/1/2031 |
60,000 | 70,806 |
SEE NOTES TO FINANCIAL STATEMENTS.
142 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds — continued |
||||||||
Pennsylvania — continued |
| |||||||
Series 2020B, Rev., 5.00%, 12/1/2033 |
280,000 | 349,652 | ||||||
Seneca Valley School District Series 2015C, GO, 5.00%, 3/1/2028 |
30,000 | 33,204 | ||||||
State Public School Building Authority, Delaware County Community College Project Rev., 5.00%, 10/1/2027 |
25,000 | 28,687 | ||||||
Township of Palmer |
||||||||
Series 2020C, GO, 4.00%, 11/15/2031 |
300,000 | 341,088 | ||||||
Series 2020C, GO, 4.00%, 11/15/2032 |
275,000 | 311,808 | ||||||
Township of Upper St. Clair Series 2016A, GO, 4.00%, 6/1/2025 |
20,000 | 21,652 | ||||||
|
|
|||||||
Total Pennsylvania |
4,107,174 | |||||||
|
|
|||||||
Rhode Island — 0.1% |
| |||||||
State of Rhode Island and Providence Plantations Consolidated Capital Development Loan Series 2018A, GO, 5.00%, 4/1/2029 |
75,000 | 89,649 | ||||||
|
|
|||||||
South Carolina — 1.2% |
| |||||||
Charleston County Airport District Rev., 5.00%, 7/1/2035 |
250,000 | 300,843 | ||||||
South Carolina Jobs-Economic Development Authority, Episcopal Home at Still Hopes Series 2018A, Rev., 5.00%, 4/1/2033 |
125,000 | 133,660 | ||||||
South Carolina Jobs-Economic Development Authority, Wofford College Project Rev., 5.00%, 4/1/2029 |
10,000 | 11,924 | ||||||
University of South Carolina, Athletic Facilities Series 2022A, Rev., 5.00%, 5/1/2034 (e) |
585,000 | 738,284 | ||||||
|
|
|||||||
Total South Carolina |
1,184,711 | |||||||
|
|
|||||||
South Dakota — 0.1% |
| |||||||
City of Rapid City, Sales Tax Rev., 5.00%, 12/1/2023 |
25,000 | 26,655 | ||||||
South Dakota Board of Regents Housing and Auxiliary Facilities System Rev., 5.00%, 4/1/2027 |
35,000 | 40,147 | ||||||
South Dakota Conservancy District, State Revolving Fund Program Rev., 5.00%, 8/1/2025 |
35,000 | 39,298 | ||||||
|
|
|||||||
Total South Dakota |
106,100 | |||||||
|
|
|||||||
Tennessee — 2.1% |
| |||||||
City of Johnson City Series 2016A, GO, 5.00%, 6/1/2023 |
15,000 | 15,748 | ||||||
City of Memphis, Sanitary Sewerage System Series 2020B, Rev., 5.00%, 10/1/2033 |
535,000 | 670,672 | ||||||
City of Murfreesboro GO, 4.00%, 4/1/2025 |
25,000 | 26,398 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Tennessee — continued |
| |||||||
County of Maury GO, 5.00%, 4/1/2027 |
40,000 | 46,795 | ||||||
County of Montgomery, Public Improvement GO, 5.00%, 4/1/2027 |
25,000 | 29,247 | ||||||
County of Robertson GO, 5.00%, 6/1/2025 |
25,000 | 27,890 | ||||||
County of Sullivan GO, 5.00%, 5/1/2026 |
30,000 | 34,341 | ||||||
County of Washington Series 2016A, GO, 4.00%, 6/1/2027 |
50,000 | 55,262 | ||||||
County of Williamson GO, 5.00%, 4/1/2024 |
20,000 | 21,574 | ||||||
Metropolitan Government of Nashville and Davidson County |
||||||||
GO, 5.00%, 7/1/2022 (d) |
20,000 | 20,288 | ||||||
Series 2015A, GO, 5.00%, 7/1/2025 |
10,000 | 11,193 | ||||||
Metropolitan Government of Nashville and Davidson County, Electric System Series 2017A, Rev., 5.00%, 5/15/2024 |
10,000 | 10,823 | ||||||
Shelby County Health Educational and Housing Facilities Board, The Farms at Bailey Station Project |
||||||||
Series 2019A, Rev., 5.00%, 10/1/2029 |
150,000 | 153,167 | ||||||
Series 2019A, Rev., 5.50%, 10/1/2034 |
150,000 | 156,600 | ||||||
State of Tennessee Series A, GO, 5.00%, 9/1/2024 (d) |
25,000 | 27,323 | ||||||
Tennergy Corp., Gas Supply Series 2021A, Rev., 4.00%, 9/1/2028 (b) |
300,000 | 331,157 | ||||||
Tennessee Energy Acquisition Corp., Commodity Project Series 2021A, Rev., 5.00%, 11/1/2031 (b) |
400,000 | 481,116 | ||||||
Tennessee Energy Acquisition Corp., Gas Project Series 2017A, Rev., 4.00%, 5/1/2023 (b) |
20,000 | 20,528 | ||||||
|
|
|||||||
Total Tennessee |
2,140,122 | |||||||
|
|
|||||||
Texas — 5.8% |
| |||||||
Alamo Community College District, Limited Tax GO, 5.00%, 2/15/2024 |
75,000 | 80,543 | ||||||
Board of Regents of the University of Texas System, Financing System |
||||||||
Series 2016D, Rev., 5.00%, 8/15/2024 |
50,000 | 54,543 | ||||||
Series 2020A, Rev., 5.00%, 8/15/2030 |
250,000 | 316,161 | ||||||
Brushy Creek Regional Utility Authority, Inc., Brushy Creek Regional Water Treatment and Distribution Project Rev., 5.00%, 8/1/2026 |
85,000 | 97,255 | ||||||
City of Austin, Airport System Series 2019B, Rev., AMT, 5.00%, 11/15/2029 |
240,000 | 286,944 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 143 |
JPMorgan Municipal ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds — continued |
||||||||
Texas — continued |
| |||||||
City of Corpus Christi, Certificates of Obligation Series 2016A, GO, 4.00%, 3/1/2026 |
200,000 | 219,006 | ||||||
City of Houston, Airport System, Subordinate Lien Series 2021A, Rev., AMT, 5.00%, 7/1/2033 |
250,000 | 303,478 | ||||||
City of Houston, Combined Utility System, First Lien Series 2018D, Rev., 5.00%, 11/15/2030 |
45,000 | 54,405 | ||||||
City of Hutto, Waterworks and Sewer System GO, 5.00%, 8/1/2026 |
80,000 | 91,755 | ||||||
City of League City, Combination Tax GO, 5.00%, 2/15/2027 |
20,000 | 22,737 | ||||||
City of Pflugerville, Limited Tax GO, 5.00%, 8/1/2026 |
25,000 | 28,754 | ||||||
City of San Angelo GO, 5.00%, 2/15/2027 |
20,000 | 23,221 | ||||||
City of San Marcos, Combination Tax, Certificates of Obligation GO, 5.00%, 8/15/2031 |
170,000 | 199,739 | ||||||
Clifton Higher Education Finance Corp., Yes Prep Public Schools, Inc. |
||||||||
Rev., PSF-GTD, 5.00%, 4/1/2029 |
100,000 | 121,818 | ||||||
Rev., PSF-GTD, 5.00%, 4/1/2030 |
185,000 | 226,918 | ||||||
Rev., PSF-GTD, 4.00%, 4/1/2031 |
175,000 | 202,028 | ||||||
Clint Independent School District, Unlimited Tax Series 2015A, GO, PSF-GTD, 5.00%, 2/15/2024 |
25,000 | 26,827 | ||||||
County of Fort Bend, Unlimited Tax Series 2016B, GO, 5.00%, 3/1/2022 |
35,000 | 35,000 | ||||||
County of Harris, Unlimited Tax Series 2017A, GO, 5.00%, 10/1/2026 |
25,000 | 28,976 | ||||||
County of Hays, Limited Tax GO, 5.00%, 2/15/2026 |
20,000 | 22,704 | ||||||
County of Montgomery, Unlimited Tax GO, 5.00%, 3/1/2025 |
25,000 | 27,647 | ||||||
County of Williamson, Limited Tax GO, 5.00%, 2/15/2026 |
40,000 | 45,606 | ||||||
Cypress-Fairbanks Independent School District, Unlimited Tax Series 2015A, GO, PSF-GTD, 5.00%, 2/15/2025 |
20,000 | 22,120 | ||||||
Dallas Fort Worth International Airport Rev., 5.00%, 11/1/2022 |
100,000 | 102,659 | ||||||
Laredo Independent School District, Unlimited Tax GO, PSF-GTD, 5.00%, 8/1/2024 |
25,000 | 27,207 | ||||||
Los Fresnos Consolidated Independent School District GO, PSF-GTD, 5.00%, 8/15/2026 |
520,000 | 598,216 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Texas — continued |
| |||||||
Lower Colorado River Authority, LCRA Transmission Services Corp. Project Rev., 5.00%, 5/15/2035 |
155,000 | 183,073 | ||||||
Metropolitan Transit Authority of Harris County, Sales and Use Tax Series 2017A, Rev., 5.00%, 11/1/2025 |
45,000 | 50,891 | ||||||
Metropolitan Transit Authority of Harris County, Sales and Use Tax, Contractual Obligations Series B, Rev., 5.00%, 11/1/2029 |
25,000 | 29,524 | ||||||
North East Independent School District, Unlimited Tax GO, PSF-GTD, 5.00%, 8/1/2025 |
20,000 | 22,463 | ||||||
North Texas Municipal Water District, Wastewater System Rev., 5.00%, 6/1/2027 |
20,000 | 23,501 | ||||||
Northside Independent School District, Unlimited Tax GO, PSF-GTD, 5.00%, 8/15/2024 |
65,000 | 71,022 | ||||||
Old Spanish Trail-Alemda Corridors Redevelopment Authority Rev., 5.00%, 9/1/2028 |
125,000 | 147,713 | ||||||
Pearland Independent School District, Unlimited Tax Series 2016A, GO, PSF-GTD, 5.00%, 2/15/2023 |
25,000 | 25,987 | ||||||
Permanent University Fund — University of Texas System Series 2016A, Rev., 5.00%, 7/1/2024 |
85,000 | 92,389 | ||||||
Prosper Independent School District, Unlimited Tax School Building GO, PSF-GTD, 5.00%, 2/15/2037 |
25,000 | 29,937 | ||||||
San Antonio Education Facilities Corp., Hallmark University Project Series 2021A, Rev., 5.00%, 10/1/2041 |
100,000 | 103,459 | ||||||
San Antonio Water System, Junior Lien Series 2017A, Rev., 5.00%, 5/15/2025 |
25,000 | 27,854 | ||||||
Sherman Independent School District, Unlimited Tax Series 2018A, GO, PSF-GTD, 5.00%, 2/15/2030 |
25,000 | 29,780 | ||||||
Socorro Independent School District, Unlimited Tax Series 2017A, GO, PSF-GTD, 5.00%, 8/15/2028 |
50,000 | 59,263 | ||||||
State of Texas, Transportation Commission Mobility Fund Series 2015-A, GO, 5.00%, 10/1/2024 |
50,000 | 54,773 | ||||||
Stephen F Austin State University, Financing System Series 2019A, Rev., 5.00%, 10/15/2026 |
60,000 | 69,236 |
SEE NOTES TO FINANCIAL STATEMENTS.
144 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds — continued |
||||||||
Texas — continued |
| |||||||
Tarrant Regional, Water Control and Improvement District, Water System Rev., 5.00%, 3/1/2025 |
25,000 | 27,725 | ||||||
Texas A&M University, Financing System Series E, Rev., 5.00%, 5/15/2030 |
155,000 | 181,276 | ||||||
Texas Public Finance Authority, Midwestern State University Series 2016A, Rev., 5.00%, 12/1/2025 |
100,000 | 112,773 | ||||||
Texas Tech University System Series 2017A, Rev., 5.00%, 2/15/2024 |
35,000 | 37,544 | ||||||
Texas Water Development Board, State Revolving Fund Rev., 5.00%, 8/1/2027 |
150,000 | 177,283 | ||||||
Texas Water Development Board, Water Implementation Fund |
||||||||
Series 2017A, Rev., 5.00%, 4/15/2028 |
40,000 | 47,643 | ||||||
Series 2018A, Rev., 5.00%, 10/15/2028 |
235,000 | 281,664 | ||||||
Trinity River Authority, Central Regional Wastewater System Rev., 5.00%, 8/1/2034 |
145,000 | 170,466 | ||||||
Trinity River Authority, Water Project Rev., 5.00%, 2/1/2026 |
60,000 | 68,016 | ||||||
Uptown Development Authority, Tax Increment Contract Rev., 4.00%, 9/1/2032 |
400,000 | 448,910 | ||||||
|
|
|||||||
Total Texas |
5,840,432 | |||||||
|
|
|||||||
Utah — 3.6% |
| |||||||
City of Park City, Sales Tax Rev., 5.00%, 6/15/2022 |
30,000 | 30,378 | ||||||
City of South Jordan, Sales Tax Rev., 5.00%, 8/15/2029 |
45,000 | 55,576 | ||||||
County of Summit, Sales Tax Rev., 5.00%, 12/15/2023 |
70,000 | 74,849 | ||||||
Jordan Valley Water Conservancy District Series 2019A, Rev., 5.00%, 10/1/2029 |
25,000 | 28,844 | ||||||
Military Installation Development Authority, Tax Allocation and Hotel Tax Series 2021A-1, Rev., 4.00%, 6/1/2041 |
125,000 | 119,022 | ||||||
Snyderville Basin Special Recreation District GO, 4.00%, 12/15/2025 |
100,000 | 109,765 | ||||||
University of Utah (The) |
||||||||
Series B, Rev., 5.00%, 8/1/2023 (d) |
25,000 | 26,384 | ||||||
Series 2020A, Rev., 5.00%, 8/1/2031 |
830,000 | 1,038,912 | ||||||
Utah Charter School Finance Authority, Summit Academy Incorporated Series A, Rev., 5.00%, 4/15/2030 |
110,000 | 129,977 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Utah — continued |
| |||||||
Utah Charter School Finance Authority, The Freedom Academy Foundation, St. George Campus Project Series 2021A, Rev., 5.00%, 6/15/2041 (c) |
150,000 | 164,457 | ||||||
Utah Transit Authority, Sales Tax Series A, Rev., BHAC-CR, MBIA, 5.00%, 6/15/2035 |
295,000 | 381,770 | ||||||
Wasatch County Municipal Building Authority |
||||||||
Rev., 4.00%, 12/1/2024 |
285,000 | 304,284 | ||||||
Rev., 4.00%, 12/1/2025 |
500,000 | 543,797 | ||||||
Rev., 4.00%, 12/1/2026 |
260,000 | 287,882 | ||||||
Rev., 4.00%, 12/1/2027 |
270,000 | 303,587 | ||||||
|
|
|||||||
Total Utah |
3,599,484 | |||||||
|
|
|||||||
Virginia — 2.5% |
| |||||||
City of Norfolk Series 2021A, GO, 5.00%, 3/1/2034 |
1,000,000 | 1,270,152 | ||||||
City of Richmond, Public Improvement Series B, GO, 5.00%, 7/15/2027 |
175,000 | 207,308 | ||||||
Commonwealth of Virginia Series 2018A, GO, 5.00%, 6/1/2030 |
25,000 | 30,309 | ||||||
County of Fairfax, Public Improvement Series 2022A, GO, 4.00%, 10/1/2031 |
100,000 | 120,328 | ||||||
County of Spotsylvania, Public Improvement GO, 5.00%, 7/15/2029 |
85,000 | 103,052 | ||||||
Roanoke Economic Development Authority, Carilion Clinic Obligated Group Series 2010D, Rev., 5.00%, 7/1/2030 (b) |
200,000 | 245,231 | ||||||
Virginia College Building Authority, Educational Facilities, 21st Century College and Equipment Programs Series 2017B, Rev., 5.00%, 2/1/2024 |
75,000 | 80,391 | ||||||
Virginia College Building Authority, Educational Facilities, Public Higher Education Financing Program Series 2014A, Rev., 5.00%, 9/1/2024 (d) |
100,000 | 109,290 | ||||||
Virginia Commonwealth Transportation Board, Capital Projects Rev., 5.00%, 5/15/2023 |
35,000 | 36,710 | ||||||
Virginia Public Building Authority, Public Facilities Series A, Rev., 5.00%, 8/1/2022 |
25,000 | 25,445 | ||||||
Virginia Resources Authority, Infrastructure Pooled Financing Program Series 2013-C, Rev., 5.00%, 11/1/2023 |
35,000 | 37,252 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 145 |
JPMorgan Municipal ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds — continued |
||||||||
Virginia — continued |
| |||||||
Virginia Small Business Financing Authority, Senior Lien Rev., AMT, 4.00%, 7/1/2032 (e) |
250,000 | 273,556 | ||||||
|
|
|||||||
Total Virginia |
2,539,024 | |||||||
|
|
|||||||
Washington — 3.4% |
| |||||||
Benton County School District No. 17 Kennewick, Unlimited Tax GO, 5.00%, 12/1/2024 |
45,000 | 49,572 | ||||||
Central Puget Sound Regional Transit Authority, Sales and Use Tax Series 2015S-1, Rev., 5.00%, 11/1/2024 |
30,000 | 32,939 | ||||||
City of Bonney Lake, Water & Sewer System Rev., 4.00%, 12/1/2030 |
10,000 | 10,924 | ||||||
City of Richland, Waterworks Utility Rev., 4.00%, 11/1/2022 |
10,000 | 10,217 | ||||||
City of Seattle, Drainage and Wastewater System Improvement Rev., 4.00%, 4/1/2026 |
20,000 | 22,068 | ||||||
City of Seattle, Water System Rev., 5.00%, 8/1/2024 |
35,000 | 38,108 | ||||||
City of University Place, Limited Tax GO, 5.00%, 12/1/2026 |
85,000 | 97,597 | ||||||
Clark County School District No. 101 La Center, Unlimited Tax GO, 5.00%, 12/1/2029 |
50,000 | 60,215 | ||||||
County of King, Limited Tax |
||||||||
Series A, GO, 5.00%, 7/1/2025 |
50,000 | 55,177 | ||||||
Series B, GO, 5.00%, 12/1/2025 |
20,000 | 21,334 | ||||||
County of Snohomish, Limited Tax GO, 5.00%, 12/1/2025 |
10,000 | 11,156 | ||||||
Energy Northwest, Bonneville Power Administrator Series 2016-A, Rev., 5.00%, 7/1/2028 |
25,000 | 28,623 | ||||||
Energy Northwest, Project 1 Series 2017A, Rev., 5.00%, 7/1/2028 |
55,000 | 64,722 | ||||||
Franklin County School District No. 1 Pasco, Unlimited Tax GO, 5.00%, 12/1/2030 |
175,000 | 207,571 | ||||||
King County Public Hospital District No. 2, Evergreen Healthcare, Limited Tax GO, 5.00%, 12/1/2024 (d) |
105,000 | 115,339 | ||||||
King County School District No. 403 Renton GO, 5.00%, 12/1/2022 |
100,000 | 101,051 | ||||||
King County School District No. 405 Bellevue, Unlimited Tax GO, 5.00%, 12/1/2026 |
20,000 | 23,303 | ||||||
King County School District No. 411 Issaquah, Unlimited Tax GO, 5.00%, 12/1/2024 |
35,000 | 38,546 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Washington — continued |
| |||||||
Mason County School District No. 309 Shelton, Unlimited Tax GO, 5.00%, 12/1/2029 |
45,000 | 52,976 | ||||||
Pend Oreille County, Public Utility District No. 1, Box Canyon Production System Rev., 5.00%, 1/1/2027 |
65,000 | 74,202 | ||||||
Pierce County School District No. 3 Puyallup, Unlimited Tax |
||||||||
Series 2012A, GO, 4.00%, 12/1/2022 |
25,000 | 25,605 | ||||||
GO, 5.00%, 12/1/2031 |
305,000 | 355,702 | ||||||
Pierce County School District No. 416 White River, Unlimited Tax GO, 5.00%, 12/1/2025 |
50,000 | 56,680 | ||||||
Snohomish County School District No. 15 Edmonds, Unlimited Tax |
||||||||
GO, 5.00%, 12/1/2025 |
25,000 | 28,340 | ||||||
GO, 5.00%, 12/1/2027 |
25,000 | 28,300 | ||||||
Snohomish County School District No. 4 Lake Stevens, Unlimited Tax GO, 5.00%, 12/1/2024 |
25,000 | 27,519 | ||||||
Spokane County School District No. 354 Mead, Unlimited Tax GO, 5.00%, 12/1/2024 |
20,000 | 22,015 | ||||||
State of Washington, Motor Vehicle Fuel Tax Series 2016C, GO, 5.00%, 7/1/2026 |
100,000 | 113,586 | ||||||
State of Washington, State and Local Agency Real and Personal Property Series 2015-C, COP, 5.00%, 1/1/2029 |
55,000 | 61,815 | ||||||
State of Washington, Various Purpose |
||||||||
Series 2015G, GO, 5.00%, 7/1/2026 |
125,000 | 137,461 | ||||||
Series 2021A, GO, 5.00%, 8/1/2035 |
1,000,000 | 1,239,647 | ||||||
Washington Health Care Facilities Authority, Providence St. Joseph Health Series 2018B, Rev., 5.00%, 10/1/2028 |
30,000 | 36,057 | ||||||
Washington Higher Education Facilities Authority, Seattle University Project Rev., 5.00%, 5/1/2023 |
125,000 | 130,333 | ||||||
|
|
|||||||
Total Washington |
3,378,700 | |||||||
|
|
|||||||
West Virginia — 1.3% |
| |||||||
West Virginia Parkways Authority, Senior Lien Turnpike Toll Rev., 5.00%, 6/1/2034 |
1,000,000 | 1,263,011 | ||||||
|
|
|||||||
Wisconsin — 3.7% |
| |||||||
City of Milwaukee, Promissory Notes Series N4 & B5, GO, 5.00%, 4/1/2023 |
85,000 | 88,702 |
SEE NOTES TO FINANCIAL STATEMENTS.
146 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds — continued |
||||||||
Wisconsin — continued |
| |||||||
Hamilton School District, School Building and Improvement GO, 5.00%, 4/1/2025 |
60,000 | 66,745 | ||||||
Public Finance Authority, Acts Retirement Life Communities, Inc., Obligated Group Series 2020A, Rev., 4.00%, 11/15/2037 |
300,000 | 334,487 | ||||||
Public Finance Authority, Blue Ridge Healthcare Facilities Series 2020A, Rev., 5.00%, 1/1/2023 |
300,000 | 310,076 | ||||||
Public Finance Authority, Entrance Fee Principal Redemption, Searstone CCRC Project Series 2021B2, Rev., 2.25%, 6/1/2027 |
250,000 | 242,970 | ||||||
Public Finance Authority, Piedmont Community Charter School Rev., 5.00%, 6/15/2039 |
200,000 | 228,539 | ||||||
Public Finance Authority, Roseman University of Health Rev., 4.00%, 4/1/2032 (c) (e) |
225,000 | 238,152 | ||||||
Public Finance Authority, Scotland Healthcare System Series 2021A, Rev., 5.00%, 10/1/2027 |
770,000 | 896,530 | ||||||
Public Finance Authority, Ultimate Medical Academy Project Series 2019A, Rev., 5.00%, 10/1/2029 (c) |
150,000 | 172,297 | ||||||
State of Wisconsin |
||||||||
Series B, GO, 4.00%, 5/1/2023 |
40,000 | 41,402 | ||||||
Series 1, GO, 5.00%, 11/1/2024 |
40,000 | 43,919 | ||||||
Series 2, GO, 5.00%, 11/1/2026 |
50,000 | 57,301 | ||||||
State of Wisconsin, Clean Water Fund Leveraged Loan Portfolio |
||||||||
Series 1, Rev., 5.00%, 6/1/2023 (d) |
25,000 | 26,237 | ||||||
Rev., 5.00%, 6/1/2024 (d) |
65,000 | 70,403 | ||||||
State of Wisconsin, Environmental Improvement Fund |
||||||||
Series 2018A, Rev., 5.00%, 6/1/2025 |
35,000 | 39,117 | ||||||
Series 2018A, Rev., 5.00%, 6/1/2026 |
20,000 | 22,946 | ||||||
Village of Pleasant Prairie GO, 4.00%, 8/1/2024 |
10,000 | 10,624 | ||||||
Wisconsin Department of Transportation |
||||||||
Series 2, Rev., 5.00%, 7/1/2031 |
180,000 | 211,213 | ||||||
Series 2, Rev., 5.00%, 7/1/2032 |
50,000 | 58,614 | ||||||
Wisconsin Health and Educational Facilities Authority, Oakwood Lutheran Senior Ministries |
||||||||
Rev., 4.00%, 1/1/2026 |
175,000 | 183,742 | ||||||
Rev., 4.00%, 1/1/2027 |
175,000 | 184,665 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Wisconsin — continued |
| |||||||
Wisconsin Health and Educational Facilities Authority, St. Camillus Health System Series 2019A, Rev., 5.00%, 11/1/2029 |
150,000 | 165,348 | ||||||
|
|
|||||||
Total Wisconsin |
3,694,029 | |||||||
|
|
|||||||
Total
Municipal Bonds |
93,369,194 | |||||||
|
|
|||||||
SHARES | ||||||||
Short-Term Investments — 10.7% |
||||||||
Investment Companies — 10.7% |
||||||||
JPMorgan
Institutional Tax Free Money Market Fund Class IM Shares,
0.04% (g) (h) |
10,791,890 | 10,795,128 | ||||||
|
|
|||||||
Total
Investments — 103.5% |
104,164,322 | |||||||
Liabilities in Excess of Other Assets — (3.5)% |
(3,521,774) | |||||||
|
|
|||||||
NET ASSETS — 100.0% |
|
100,642,548 | ||||||
|
|
Percentages indicated are based on net assets.
Abbreviations
AGM |
Insured by Assured Guaranty Municipal Corp. | |
AMT |
Alternative Minimum Tax | |
BAN |
Bond Anticipation Note | |
BHAC |
Insured by Berkshire Hathaway Assurance Corp. | |
COP |
Certificate of Participation | |
CR |
Custodial Receipts | |
FHA |
Federal Housing Administration | |
GAN |
Grant Anticipation Note | |
GO |
General Obligation | |
GTD |
Guaranteed | |
LIQ |
Liquidity Agreement | |
PSF-GTD |
Permanent School Fund Guaranteed | |
Q-SBLF |
Qualified School Bond Loan Fund | |
Rev. |
Revenue | |
(a) |
The date shown represents the earliest of the prerefunded date, next put date or final maturity date. | |
(b) |
Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of February 28, 2022. | |
(c) |
Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. | |
(d) |
Security is prerefunded or escrowed to maturity. | |
(e) |
All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment. | |
(f) |
Amount rounds to less than 0.1% of net assets. |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 147 |
JPMorgan Municipal ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
(g) |
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. | |
(h) |
The rate shown is the current yield as of February 28, 2022. |
Futures contracts outstanding as of February 28, 2022: | ||||||||||||||||||||
DESCRIPTION | NUMBER OF CONTRACTS |
EXPIRATION DATE |
TRADING CURRENCY |
NOTIONAL AMOUNT ($) |
VALUE
AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
|||||||||||||||
Short Contracts |
||||||||||||||||||||
U.S. Treasury 10 Year Ultra Note |
(15 | ) | 06/2022 | USD | (2,121,563 | ) | (20,539 | ) | ||||||||||||
|
|
Abbreviations
USD |
UnitedStates Dollar |
SEE NOTES TO FINANCIAL STATEMENTS.
148 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
JPMorgan Short Duration Core Plus ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — 38.5% |
| |||||||
Aerospace & Defense — 0.6% |
| |||||||
Boeing Co. (The) |
||||||||
4.88%, 5/1/2025 |
570,000 | 605,957 | ||||||
2.20%, 2/4/2026 |
125,000 | 121,963 | ||||||
Bombardier, Inc. (Canada) 6.00%, 2/15/2028 (a) |
55,000 | 52,526 | ||||||
BWX Technologies, Inc. |
||||||||
4.13%, 6/30/2028 (a) |
45,000 | 43,650 | ||||||
4.13%, 4/15/2029 (a) |
60,000 | 58,200 | ||||||
Howmet Aerospace, Inc. 5.90%, 2/1/2027 |
50,000 | 54,306 | ||||||
Moog, Inc. 4.25%, 12/15/2027 (a) |
25,000 | 24,509 | ||||||
Spirit AeroSystems, Inc. 7.50%, 4/15/2025 (a) |
70,000 | 72,730 | ||||||
TransDigm, Inc. 6.25%, 3/15/2026 (a) |
60,000 | 61,725 | ||||||
Triumph Group, Inc. 8.88%, 6/1/2024 (a) |
50,000 | 53,351 | ||||||
|
|
|||||||
1,148,917 | ||||||||
|
|
|||||||
Airlines — 0.1% |
||||||||
American Airlines, Inc. |
||||||||
5.50%, 4/20/2026 (a) |
12,000 | 12,283 | ||||||
5.75%, 4/20/2029 (a) |
54,750 | 55,972 | ||||||
Delta Air Lines, Inc. 4.75%, 10/20/2028 (a) |
70,000 | 73,005 | ||||||
United Airlines, Inc. 4.38%, 4/15/2026 (a) |
53,000 | 52,864 | ||||||
|
|
|||||||
194,124 | ||||||||
|
|
|||||||
Auto Components — 0.4% |
||||||||
Adient Global Holdings Ltd. 4.88%, 8/15/2026 (a) |
200,000 | 200,250 | ||||||
Allison Transmission, Inc. 5.88%, 6/1/2029 (a) |
40,000 | 41,954 | ||||||
American Axle & Manufacturing, Inc. |
||||||||
6.50%, 4/1/2027 (b) |
50,000 | 51,125 | ||||||
5.00%, 10/1/2029 (b) |
30,000 | 28,449 | ||||||
Clarios Global LP |
||||||||
6.75%, 5/15/2025 (a) |
60,000 | 62,263 | ||||||
6.25%, 5/15/2026 (a) |
36,000 | 37,240 | ||||||
Dana, Inc. |
||||||||
5.38%, 11/15/2027 |
50,000 | 51,000 | ||||||
4.50%, 2/15/2032 |
25,000 | 23,469 | ||||||
Goodyear Tire & Rubber Co. (The) 5.25%, 4/30/2031 |
124,000 | 120,590 | ||||||
Icahn Enterprises LP 5.25%, 5/15/2027 |
90,000 | 89,370 | ||||||
|
|
|||||||
705,710 | ||||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Automobiles — 0.9% |
||||||||
BMW US Capital LLC (Germany) 3.90%, 4/9/2025 (a) |
150,000 | 156,882 | ||||||
Ford Motor Co. 9.63%, 4/22/2030 |
70,000 | 96,188 | ||||||
Hyundai Capital America |
||||||||
4.13%, 6/8/2023 (a) |
150,000 | 153,062 | ||||||
2.65%, 2/10/2025 (a) |
250,000 | 249,585 | ||||||
1.80%, 10/15/2025 (a) |
200,000 | 193,251 | ||||||
Nissan Motor Acceptance Co. LLC 1.85%, 9/16/2026 (a) |
255,000 | 239,111 | ||||||
Nissan Motor Co. Ltd. (Japan) 3.52%, 9/17/2025 (a) |
200,000 | 202,487 | ||||||
Stellantis Finance US, Inc. 1.71%, 1/29/2027 (a) |
210,000 | 199,732 | ||||||
Volkswagen Group of America Finance LLC (Germany) 3.35%, 5/13/2025 (a) |
200,000 | 204,260 | ||||||
|
|
|||||||
1,694,558 | ||||||||
|
|
|||||||
Banks — 11.0% |
||||||||
ABN AMRO Bank NV (Netherlands) 4.75%, 7/28/2025 (a) |
400,000 | 420,800 | ||||||
AIB Group plc (Ireland) (ICE LIBOR USD 3 Month + 1.87%), 4.26%, 4/10/2025 (a) (c) |
645,000 | 661,663 | ||||||
Australia & New Zealand Banking Group Ltd. (Australia) |
||||||||
4.40%, 5/19/2026 (a) |
750,000 | 794,119 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.29%), 2.95%, 7/22/2030 (a) (c) |
200,000 | 197,997 | ||||||
Banco Continental SAECA (Paraguay) 2.75%, 12/10/2025 (a) |
150,000 | 139,987 | ||||||
Banco Santander SA (Spain) |
||||||||
2.75%, 5/28/2025 |
400,000 | 400,455 | ||||||
5.18%, 11/19/2025 |
200,000 | 213,043 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.90%), 1.72%, 9/14/2027 (c) |
200,000 | 189,113 | ||||||
Bank of America Corp. |
||||||||
(ICE LIBOR USD 3 Month + 0.94%), 3.86%, 7/23/2024 (c) |
200,000 | 204,520 | ||||||
(ICE LIBOR USD 3 Month + 0.64%), 2.01%, 2/13/2026 (c) |
585,000 | 574,894 | ||||||
(SOFR + 0.96%), 1.73%, 7/22/2027 (c) |
230,000 | 219,549 | ||||||
(SOFR + 1.05%), 2.55%, 2/4/2028 (c) |
345,000 | 339,426 | ||||||
Bank of Ireland Group plc (Ireland) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 2.03%, 9/30/2027 (a) (c) |
245,000 | 230,436 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 149 |
JPMorgan Short Duration Core Plus ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Banks — continued |
||||||||
Barclays plc (United Kingdom) |
||||||||
(ICE LIBOR USD 3 Month + 1.61%), 3.93%, 5/7/2025 (c) |
600,000 | 617,035 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.05%), 2.28%, 11/24/2027 (c) |
320,000 | 308,688 | ||||||
BNP Paribas SA (France) |
||||||||
(ICE LIBOR USD 3 Month + 2.24%), 4.70%, 1/10/2025 (a) (c) |
1,015,000 | 1,054,565 | ||||||
4.38%, 9/28/2025 (a) |
200,000 | 208,392 | ||||||
Citigroup, Inc. |
||||||||
(ICE LIBOR USD 3 Month + 0.90%), 3.35%, 4/24/2025 (c) |
620,000 | 632,400 | ||||||
(SOFR + 0.67%), 0.98%, 5/1/2025 (c) |
85,000 | 82,563 | ||||||
(SOFR + 0.69%), 2.01%, 1/25/2026 (c) |
455,000 | 447,836 | ||||||
(SOFR + 2.84%), 3.11%, 4/8/2026 (c) |
200,000 | 202,619 | ||||||
(SOFR + 0.77%), 1.12%, 1/28/2027 (c) |
85,000 | 80,041 | ||||||
Citizens Bank NA 2.25%, 4/28/2025 |
250,000 | 249,185 | ||||||
Credit Agricole SA (France) |
||||||||
4.38%, 3/17/2025 (a) |
775,000 | 801,703 | ||||||
(SOFR + 1.68%), 1.91%, 6/16/2026 (a) (c) |
250,000 | 243,279 | ||||||
Danske Bank A/S (Denmark) |
||||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.03%), 1.17%, 12/8/2023 (a) (c) |
200,000 | 198,558 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.55%), 0.98%, 9/10/2025 (a) (c) |
305,000 | 293,140 | ||||||
Federation des Caisses Desjardins du Quebec (Canada) 2.05%, 2/10/2025 (a) |
200,000 | 197,266 | ||||||
First-Citizens Bank & Trust Co. 6.13%, 3/9/2028 |
35,000 | 40,017 | ||||||
HSBC Holdings plc (United Kingdom) |
||||||||
4.25%, 3/14/2024 |
371,000 | 384,329 | ||||||
(ICE LIBOR USD 3 Month + 0.99%), 3.95%, 5/18/2024 (c) |
200,000 | 204,424 | ||||||
(SOFR + 0.53%), 0.73%, 8/17/2024 (c) |
270,000 | 264,117 | ||||||
(ICE LIBOR USD 3 Month + 1.21%), 3.80%, 3/11/2025 (c) |
250,000 | 256,064 | ||||||
(SOFR + 1.54%), 1.64%, 4/18/2026 (c) |
200,000 | 192,801 | ||||||
(SOFR + 1.10%), 2.25%, 11/22/2027 (c) |
385,000 | 371,135 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Banks — continued |
||||||||
ING Groep NV (Netherlands) |
||||||||
(SOFR + 1.01%), 1.73%, 4/1/2027 (c) |
200,000 | 191,130 | ||||||
Lloyds Banking Group plc (United Kingdom) |
||||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%), 2.44%, 2/5/2026 (c) |
200,000 | 198,572 | ||||||
4.65%, 3/24/2026 |
700,000 | 738,277 | ||||||
Mitsubishi UFJ Financial Group, Inc. (Japan) 2.19%, 2/25/2025 |
200,000 | 198,379 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.75%), 1.54%, 7/20/2027 (c) |
200,000 | 189,723 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.83%), 2.34%, 1/19/2028 (c) |
400,000 | 390,353 | ||||||
Mizuho Financial Group Cayman 3 Ltd. (Japan) 4.60%, 3/27/2024 (a) |
690,000 | 718,074 | ||||||
Mizuho Financial Group, Inc. (Japan) |
||||||||
(SOFR + 1.25%), 1.24%, 7/10/2024 (c) |
200,000 | 197,682 | ||||||
(SOFR + 1.24%), 2.84%, 7/16/2025 (c) |
200,000 | 201,847 | ||||||
4.35%, 10/20/2025 (a) |
200,000 | 209,313 | ||||||
NatWest Group plc (United Kingdom) |
||||||||
(ICE LIBOR USD 3 Month + 1.48%), 3.50%, 5/15/2023 (c) |
200,000 | 200,676 | ||||||
(ICE LIBOR USD 3 Month + 1.55%), 4.52%, 6/25/2024 (c) |
200,000 | 206,039 | ||||||
4.80%, 4/5/2026 |
500,000 | 536,079 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.90%), 1.64%, 6/14/2027 (c) |
210,000 | 199,496 | ||||||
Santander UK Group Holdings plc (United Kingdom) |
||||||||
(ICE LIBOR USD 3 Month + 1.08%), 3.37%, 1/5/2024 (c) |
200,000 | 202,369 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.25%), 1.53%, 8/21/2026 (c) |
955,000 | 910,640 | ||||||
Societe Generale SA (France) |
||||||||
3.88%, 3/28/2024 (a) |
200,000 | 205,072 | ||||||
4.25%, 4/14/2025 (a) |
770,000 | 788,474 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.05%), 2.23%, 1/21/2026 (a) (c) |
365,000 | 356,522 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 1.49%, 12/14/2026 (a) (c) |
200,000 | 186,946 |
SEE NOTES TO FINANCIAL STATEMENTS.
150 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Banks — continued |
||||||||
Standard Chartered plc (United Kingdom) |
||||||||
5.20%, 1/26/2024 (a) |
350,000 | 364,458 | ||||||
(ICE LIBOR USD 3 Month + 1.08%), 3.89%, 3/15/2024 (a) (c) |
200,000 | 203,312 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.78%), 0.99%, 1/12/2025 (a) (c) |
250,000 | 242,404 | ||||||
(ICE LIBOR USD 3 Month + 1.21%), 2.82%, 1/30/2026 (a) (c) |
200,000 | 198,887 | ||||||
Sumitomo Mitsui Financial Group, Inc. (Japan) |
||||||||
4.44%, 4/2/2024 (a) |
400,000 | 416,289 | ||||||
2.35%, 1/15/2025 |
200,000 | 199,284 | ||||||
Sumitomo Mitsui Trust Bank Ltd. (Japan) 0.85%, 3/25/2024 (a) |
200,000 | 194,850 | ||||||
UniCredit SpA (Italy) |
||||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.20%), 1.98%, 6/3/2027 (a) (c) |
200,000 | 186,546 | ||||||
Wells Fargo & Co. |
||||||||
(ICE LIBOR USD 3 Month + 0.75%), 2.16%, 2/11/2026 (c) |
150,000 | 148,174 | ||||||
Westpac Banking Corp. (Australia) |
||||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.35%), 2.89%, 2/4/2030 (c) |
150,000 | 148,187 | ||||||
|
|
|||||||
21,244,213 | ||||||||
|
|
|||||||
Beverages — 0.2% |
||||||||
Central American Bottling Corp. (Guatemala) 5.25%, 4/27/2029 (a) |
140,000 | 141,792 | ||||||
Constellation Brands, Inc. 4.25%, 5/1/2023 |
150,000 | 154,160 | ||||||
Keurig Dr Pepper, Inc. 0.75%, 3/15/2024 |
85,000 | 82,889 | ||||||
|
|
|||||||
378,841 | ||||||||
|
|
|||||||
Biotechnology — 0.1% |
||||||||
Emergent BioSolutions, Inc. 3.88%, 8/15/2028 (a) |
80,000 | 71,561 | ||||||
Grifols Escrow Issuer SA (Spain) 4.75%, 10/15/2028 (a) |
200,000 | 189,000 | ||||||
|
|
|||||||
260,561 | ||||||||
|
|
|||||||
Building Products — 0.2% |
||||||||
Builders FirstSource, Inc. |
||||||||
6.75%, 6/1/2027 (a) |
21,000 | 21,825 | ||||||
4.25%, 2/1/2032 (a) |
35,000 | 33,597 | ||||||
Griffon Corp. 5.75%, 3/1/2028 |
75,000 | 74,710 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Building Products — continued |
||||||||
PGT Innovations, Inc. 4.38%, 10/1/2029 (a) |
55,000 | 51,690 | ||||||
Standard Industries, Inc. 4.75%, 1/15/2028 (a) |
200,000 | 196,250 | ||||||
Summit Materials LLC 5.25%, 1/15/2029 (a) |
35,000 | 35,131 | ||||||
|
|
|||||||
413,203 | ||||||||
|
|
|||||||
Capital Markets — 3.4% |
||||||||
Coinbase Global, Inc. |
||||||||
3.38%, 10/1/2028 (a) |
8,000 | 7,289 | ||||||
3.63%, 10/1/2031 (a) |
8,000 | 7,046 | ||||||
Credit Suisse Group AG (Switzerland) |
||||||||
3.80%, 6/9/2023 |
380,000 | 388,381 | ||||||
(SOFR + 1.56%), 2.59%, 9/11/2025 (a) (c) |
250,000 | 248,757 | ||||||
(SOFR + 2.04%), 2.19%, 6/5/2026 (a) (c) |
250,000 | 242,811 | ||||||
Deutsche Bank AG (Germany) |
||||||||
(SOFR + 2.16%), 2.22%, 9/18/2024 (c) |
150,000 | 149,644 | ||||||
1.69%, 3/19/2026 |
150,000 | 144,775 | ||||||
(SOFR + 1.22%), 2.31%, 11/16/2027 (c) |
320,000 | 305,773 | ||||||
Goldman Sachs Group, Inc. (The) |
||||||||
Series VAR, (SOFR + 0.54%), 0.63%, 11/17/2023 (c) |
500,000 | 495,880 | ||||||
(SOFR + 0.57%), 0.67%, 3/8/2024 (c) |
200,000 | 197,391 | ||||||
3.50%, 1/23/2025 |
200,000 | 205,531 | ||||||
(SOFR + 0.73%), 1.76%, 1/24/2025 (c) |
500,000 | 494,380 | ||||||
3.50%, 4/1/2025 |
100,000 | 102,789 | ||||||
(SOFR + 0.91%), 1.95%, 10/21/2027 (c) |
423,000 | 405,297 | ||||||
(SOFR + 1.11%), 2.64%, 2/24/2028 (c) |
390,000 | 384,304 | ||||||
Macquarie Bank Ltd. (Australia) 2.30%, 1/22/2025 (a) |
150,000 | 150,174 | ||||||
Macquarie Group Ltd. (Australia) |
||||||||
(ICE LIBOR USD 3 Month + 1.02%), 3.19%, 11/28/2023 (a) (c) |
500,000 | 504,597 | ||||||
(SOFR + 0.91%), 1.63%, 9/23/2027 (a) (c) |
140,000 | 132,605 | ||||||
Morgan Stanley |
||||||||
(SOFR + 0.62%), 0.73%, 4/5/2024 (c) |
160,000 | 157,787 | ||||||
(ICE LIBOR USD 3 Month + 0.85%), 3.74%, 4/24/2024 (c) |
200,000 | 203,730 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 151 |
JPMorgan Short Duration Core Plus ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Capital Markets — continued |
||||||||
(SOFR + 1.99%), 2.19%, 4/28/2026 (c) |
150,000 | 148,056 | ||||||
(SOFR + 0.86%), 1.51%, 7/20/2027 (c) |
335,000 | 317,365 | ||||||
MSCI, Inc. |
||||||||
4.00%, 11/15/2029 (a) |
35,000 | 35,188 | ||||||
Nomura Holdings, Inc. (Japan) |
||||||||
1.85%, 7/16/2025 |
200,000 | 194,663 | ||||||
1.65%, 7/14/2026 |
200,000 | 189,758 | ||||||
UBS Group AG (Switzerland) |
||||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.83%), 1.01%, 7/30/2024 (a) (c) |
400,000 | 394,295 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.85%), 1.49%, 8/10/2027 (a) (c) |
270,000 | 254,668 | ||||||
|
|
|||||||
6,462,934 | ||||||||
|
|
|||||||
Chemicals — 0.5% |
||||||||
Axalta Coating Systems LLC 4.75%, 6/15/2027 (a) |
150,000 | 150,375 | ||||||
Braskem Netherlands Finance BV (Brazil) 4.50%, 1/31/2030 (d) |
200,000 | 197,375 | ||||||
Celanese US Holdings LLC 1.40%, 8/5/2026 |
75,000 | 70,538 | ||||||
Chemours Co. (The) |
||||||||
5.38%, 5/15/2027 |
30,000 | 30,108 | ||||||
5.75%, 11/15/2028 (a) |
40,000 | 39,319 | ||||||
Element Solutions, Inc. 3.88%, 9/1/2028 (a) |
70,000 | 66,391 | ||||||
INEOS Quattro Finance 2 plc (United Kingdom) 3.38%, 1/15/2026 (a) |
200,000 | 191,000 | ||||||
NOVA Chemicals Corp. (Canada) |
||||||||
5.00%, 5/1/2025 (a) |
35,000 | 35,359 | ||||||
4.25%, 5/15/2029 (a) |
75,000 | 70,281 | ||||||
Olin Corp. 5.63%, 8/1/2029 |
30,000 | 31,281 | ||||||
Rain CII Carbon LLC 7.25%, 4/1/2025 (a) |
75,000 | 75,080 | ||||||
Scotts Miracle-Gro Co. (The) 4.50%, 10/15/2029 |
85,000 | 82,025 | ||||||
|
|
|||||||
1,039,132 | ||||||||
|
|
|||||||
Commercial Services & Supplies — 0.4% |
||||||||
ACCO Brands Corp. 4.25%, 3/15/2029 (a) |
75,000 | 69,937 | ||||||
Allied Universal Holdco LLC 6.63%, 7/15/2026 (a) |
35,000 | 35,851 | ||||||
Aramark Services, Inc. 5.00%, 2/1/2028 (a) |
65,000 | 65,116 | ||||||
Brink’s Co. (The) 4.63%, 10/15/2027 (a) |
35,000 | 34,160 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Commercial Services & Supplies — continued |
| |||||||
Garda World Security Corp. (Canada) 4.63%, 2/15/2027 (a) |
60,000 | 58,125 | ||||||
GFL Environmental, Inc. (Canada) |
||||||||
3.75%, 8/1/2025 (a) |
55,000 | 54,450 | ||||||
4.00%, 8/1/2028 (a) |
45,000 | 41,802 | ||||||
3.50%, 9/1/2028 (a) |
25,000 | 23,865 | ||||||
Madison IAQ LLC 4.13%, 6/30/2028 (a) |
140,000 | 132,438 | ||||||
Nielsen Finance LLC 5.63%, 10/1/2028 (a) |
95,000 | 91,804 | ||||||
Prime Security Services Borrower LLC |
||||||||
5.75%, 4/15/2026 (a) |
135,000 | 138,722 | ||||||
3.38%, 8/31/2027 (a) |
45,000 | 41,622 | ||||||
Stericycle, Inc. 3.88%, 1/15/2029 (a) |
60,000 | 55,875 | ||||||
|
|
|||||||
843,767 | ||||||||
|
|
|||||||
Communications Equipment — 0.1% |
||||||||
CommScope, Inc. |
||||||||
6.00%, 3/1/2026 (a) |
65,000 | 66,529 | ||||||
4.75%, 9/1/2029 (a) |
105,000 | 97,912 | ||||||
Plantronics, Inc. 4.75%, 3/1/2029 (a) (b) |
35,000 | 30,975 | ||||||
|
|
|||||||
195,416 | ||||||||
|
|
|||||||
Construction & Engineering — 0.1% |
||||||||
Dycom Industries, Inc. 4.50%, 4/15/2029 (a) |
50,000 | 48,125 | ||||||
Global Infrastructure Solutions, Inc. 5.63%, 6/1/2029 (a) |
60,000 | 59,250 | ||||||
MasTec, Inc. 4.50%, 8/15/2028 (a) |
85,000 | 86,179 | ||||||
Weekley Homes LLC 4.88%, 9/15/2028 (a) |
65,000 | 61,829 | ||||||
|
|
|||||||
255,383 | ||||||||
|
|
|||||||
Consumer Finance — 2.5% |
||||||||
AerCap Ireland Capital DAC (Ireland) |
||||||||
4.88%, 1/16/2024 |
450,000 | 467,046 | ||||||
2.88%, 8/14/2024 |
200,000 | 200,160 | ||||||
2.45%, 10/29/2026 |
490,000 | 472,741 | ||||||
Avolon Holdings Funding Ltd. (Ireland) |
||||||||
5.25%, 5/15/2024 (a) |
450,000 | 470,228 | ||||||
5.50%, 1/15/2026 (a) |
125,000 | 133,077 | ||||||
Capital One Financial Corp. |
||||||||
(SOFR + 0.69%), 1.34%, 12/6/2024 (c) |
270,000 | 265,935 | ||||||
3.20%, 2/5/2025 |
150,000 | 153,122 | ||||||
(SOFR + 0.86%), 1.88%, 11/2/2027 (c) |
330,000 | 316,214 | ||||||
Ford Motor Credit Co. LLC |
||||||||
4.27%, 1/9/2027 |
425,000 | 428,187 | ||||||
5.11%, 5/3/2029 |
200,000 | 210,838 |
SEE NOTES TO FINANCIAL STATEMENTS.
152 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Consumer Finance — continued |
||||||||
General Motors Financial Co., Inc. |
||||||||
1.05%, 3/8/2024 |
75,000 | 73,078 | ||||||
3.95%, 4/13/2024 |
400,000 | 411,213 | ||||||
4.00%, 1/15/2025 |
150,000 | 155,242 | ||||||
4.30%, 7/13/2025 |
370,000 | 385,477 | ||||||
Navient Corp. 7.25%, 9/25/2023 |
21,000 | 22,029 | ||||||
OneMain Finance Corp. |
||||||||
7.13%, 3/15/2026 |
75,000 | 81,300 | ||||||
6.63%, 1/15/2028 |
25,000 | 26,710 | ||||||
5.38%, 11/15/2029 |
25,000 | 25,147 | ||||||
Park Aerospace Holdings Ltd. (Ireland) |
||||||||
4.50%, 3/15/2023 (a) |
350,000 | 357,279 | ||||||
5.50%, 2/15/2024 (a) |
150,000 | 157,066 | ||||||
|
|
|||||||
4,812,089 | ||||||||
|
|
|||||||
Containers & Packaging — 0.4% |
||||||||
Ardagh Packaging Finance plc 4.13%, 8/15/2026 (a) |
200,000 | 193,500 | ||||||
Ball Corp. 4.88%, 3/15/2026 |
35,000 | 36,625 | ||||||
Graphic Packaging International LLC 1.51%, 4/15/2026 (a) |
70,000 | 67,018 | ||||||
Greif, Inc. 6.50%, 3/1/2027 (a) |
60,000 | 61,950 | ||||||
LABL, Inc. 6.75%, 7/15/2026 (a) |
110,000 | 110,275 | ||||||
Mauser Packaging Solutions Holding Co. 5.50%, 4/15/2024 (a) |
110,000 | 109,450 | ||||||
Owens-Brockway Glass Container, Inc. 6.63%, 5/13/2027 (a) |
70,000 | 72,625 | ||||||
Pactiv Evergreen Group Issuer, Inc. 4.00%, 10/15/2027 (a) |
55,000 | 51,003 | ||||||
Sealed Air Corp. 4.00%, 12/1/2027 (a) |
30,000 | 29,700 | ||||||
|
|
|||||||
732,146 | ||||||||
|
|
|||||||
Diversified Consumer Services — 0.0% (e) |
||||||||
Service Corp. International 5.13%, 6/1/2029 |
45,000 | 46,125 | ||||||
|
|
|||||||
Diversified Financial Services — 0.3% |
||||||||
Element Fleet Management Corp. (Canada) |
||||||||
1.60%, 4/6/2024 (a) |
145,000 | 142,561 | ||||||
3.85%, 6/15/2025 (a) |
200,000 | 206,646 | ||||||
Sabre GLBL, Inc. 9.25%, 4/15/2025 (a) |
50,000 | 56,388 | ||||||
Tunisian Republic (Tunisia) |
||||||||
5.75%, 1/30/2025 (d) |
200,000 | 146,500 | ||||||
|
|
|||||||
552,095 | ||||||||
|
|
|||||||
Diversified Telecommunication Services — 1.1% |
|
|||||||
Altice France Holding SA (Luxembourg) 6.00%, 2/15/2028 (a) |
200,000 | 177,148 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Diversified Telecommunication Services — continued |
|
|||||||
Altice France SA (France) 5.13%, 7/15/2029 (a) |
200,000 | 181,000 | ||||||
CCO Holdings LLC |
||||||||
5.00%, 2/1/2028 (a) |
245,000 | 246,493 | ||||||
4.75%, 3/1/2030 (a) |
285,000 | 279,866 | ||||||
4.75%, 2/1/2032 (a) |
15,000 | 14,588 | ||||||
4.50%, 5/1/2032 |
240,000 | 228,000 | ||||||
Frontier Communications Holdings LLC 5.88%, 10/15/2027 (a) |
85,000 | 86,202 | ||||||
Level 3 Financing, Inc. 4.63%, 9/15/2027 (a) |
70,000 | 67,550 | ||||||
Lumen Technologies, Inc. |
||||||||
5.13%, 12/15/2026 (a) |
85,000 | 79,081 | ||||||
4.00%, 2/15/2027 (a) |
260,000 | 247,408 | ||||||
NBN Co. Ltd. (Australia) 1.45%, 5/5/2026 (a) |
200,000 | 190,666 | ||||||
Sprint Capital Corp. 8.75%, 3/15/2032 |
75,000 | 104,062 | ||||||
Switch Ltd. 4.13%, 6/15/2029 (a) |
55,000 | 52,731 | ||||||
Telecom Italia Capital SA (Italy) 6.38%, 11/15/2033 |
35,000 | 34,125 | ||||||
Zayo Group Holdings, Inc. 4.00%, 3/1/2027 (a) |
45,000 | 42,781 | ||||||
|
|
|||||||
2,031,701 | ||||||||
|
|
|||||||
Electric Utilities — 1.6% |
||||||||
Enel Finance International NV (Italy) 1.38%, 7/12/2026 (a) |
200,000 | 188,935 | ||||||
Eskom Holdings SOC Ltd. (South Africa) 6.75%, 8/6/2023 (d) |
200,000 | 199,000 | ||||||
Fells Point Funding Trust 3.05%, 1/31/2027 (a) |
535,000 | 530,179 | ||||||
ITC Holdings Corp. 3.65%, 6/15/2024 |
745,000 | 764,547 | ||||||
NextEra Energy Capital Holdings, Inc. 0.65%, 3/1/2023 |
115,000 | 113,893 | ||||||
NRG Energy, Inc. |
||||||||
3.75%, 6/15/2024 (a) |
200,000 | 203,917 | ||||||
6.63%, 1/15/2027 |
34,000 | 35,139 | ||||||
3.38%, 2/15/2029 (a) |
50,000 | 46,435 | ||||||
5.25%, 6/15/2029 (a) |
75,000 | 76,500 | ||||||
Pacific Gas and Electric Co. 1.37%, 3/10/2023 |
130,000 | 128,640 | ||||||
PG&E Corp. 5.00%, 7/1/2028 |
93,000 | 92,070 | ||||||
Southern California Edison Co. |
||||||||
1.10%, 4/1/2024 |
150,000 | 146,724 | ||||||
Vistra Operations Co. LLC |
||||||||
3.55%, 7/15/2024 (a) |
350,000 | 354,513 | ||||||
5.50%, 9/1/2026 (a) |
45,000 | 45,784 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 153 |
JPMorgan Short Duration Core Plus ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Electric Utilities — continued |
||||||||
5.00%, 7/31/2027 (a) |
70,000 | 70,520 | ||||||
4.38%, 5/1/2029 (a) |
29,000 | 28,102 | ||||||
|
|
|||||||
3,024,898 | ||||||||
|
|
|||||||
Electrical Equipment — 0.0% (e) |
||||||||
EnerSys 4.38%, 12/15/2027 (a) |
25,000 | 24,750 | ||||||
|
|
|||||||
Electronic Equipment, Instruments & Components — 0.0% (e) |
| |||||||
CDW LLC 4.25%, 4/1/2028 |
35,000 | 34,475 | ||||||
Sensata Technologies, Inc. 4.38%, 2/15/2030 (a) |
40,000 | 38,900 | ||||||
|
|
|||||||
73,375 | ||||||||
|
|
|||||||
Energy Equipment & Services — 0.0% (e) |
||||||||
Oceaneering International, Inc. 4.65%, 11/15/2024 |
70,000 | 68,889 | ||||||
|
|
|||||||
Entertainment — 0.2% |
||||||||
Cinemark USA, Inc. |
||||||||
5.88%, 3/15/2026 (a) |
35,000 | 34,475 | ||||||
5.25%, 7/15/2028 (a) |
30,000 | 28,614 | ||||||
Live Nation Entertainment, Inc. 4.75%, 10/15/2027 (a) |
95,000 | 93,339 | ||||||
Netflix, Inc. 4.88%, 6/15/2030 (a) |
195,000 | 212,633 | ||||||
WMG Acquisition Corp. 3.88%, 7/15/2030 (a) |
60,000 | 57,600 | ||||||
|
|
|||||||
426,661 | ||||||||
|
|
|||||||
Equity Real Estate Investment Trusts (REITs) — 0.5% |
|
|||||||
American Tower Corp. 2.40%, 3/15/2025 |
150,000 | 149,507 | ||||||
Corporate Office Properties LP 2.00%, 1/15/2029 |
140,000 | 129,609 | ||||||
Iron Mountain, Inc. 4.88%, 9/15/2027 (a) |
110,000 | 110,134 | ||||||
MGM Growth Properties Operating Partnership LP 5.63%, 5/1/2024 |
50,000 | 51,908 | ||||||
Office Properties Income Trust |
||||||||
2.65%, 6/15/2026 |
150,000 | 142,701 | ||||||
2.40%, 2/1/2027 |
200,000 | 185,145 | ||||||
RHP Hotel Properties LP 4.75%, 10/15/2027 |
75,000 | 73,313 | ||||||
SBA Communications Corp. 3.13%, 2/1/2029 |
45,000 | 41,796 | ||||||
VICI Properties LP 3.50%, 2/15/2025 (a) |
65,000 | 65,152 | ||||||
|
|
|||||||
949,265 | ||||||||
|
|
|||||||
Food & Staples Retailing — 0.2% |
||||||||
Albertsons Cos., Inc. |
||||||||
4.63%, 1/15/2027 (a) |
240,000 | 241,053 | ||||||
3.50%, 3/15/2029 (a) |
65,000 | 60,450 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Food & Staples Retailing — continued |
|
|||||||
Performance Food Group, Inc. 5.50%, 10/15/2027 (a) |
50,000 | 50,875 | ||||||
Rite Aid Corp. 8.00%, 11/15/2026 (a) |
95,000 | 90,434 | ||||||
|
|
|||||||
442,812 | ||||||||
|
|
|||||||
Food Products — 0.2% |
||||||||
Lamb Weston Holdings, Inc. 4.88%, 5/15/2028 (a) |
105,000 | 107,888 | ||||||
Post Holdings, Inc. |
||||||||
5.63%, 1/15/2028 (a) |
115,000 | 115,431 | ||||||
4.63%, 4/15/2030 (a) |
35,000 | 32,951 | ||||||
Viterra Finance BV (Netherlands) 2.00%, 4/21/2026 (a) |
200,000 | 193,409 | ||||||
|
|
|||||||
449,679 | ||||||||
|
|
|||||||
Gas Utilities — 0.2% |
||||||||
AmeriGas Partners LP 5.88%, 8/20/2026 |
55,000 | 56,136 | ||||||
CenterPoint Energy Resources Corp. 0.70%, 3/2/2023 |
250,000 | 247,389 | ||||||
|
|
|||||||
303,525 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies — 0.4% |
|
|||||||
Avantor Funding, Inc. 4.63%, 7/15/2028 (a) |
60,000 | 60,900 | ||||||
Hologic, Inc. 3.25%, 2/15/2029 (a) |
85,000 | 80,538 | ||||||
Mozart Debt Merger Sub, Inc. |
||||||||
3.88%, 4/1/2029 (a) |
65,000 | 61,674 | ||||||
5.25%, 10/1/2029 (a) |
30,000 | 28,650 | ||||||
Teleflex, Inc. 4.25%, 6/1/2028 (a) |
60,000 | 59,250 | ||||||
Zimmer Biomet Holdings, Inc. 1.45%, 11/22/2024 |
385,000 | 376,168 | ||||||
|
|
|||||||
667,180 | ||||||||
|
|
|||||||
Health Care Providers & Services — 1.0% |
||||||||
Acadia Healthcare Co., Inc. 5.50%, 7/1/2028 (a) |
65,000 | 65,163 | ||||||
AdaptHealth LLC 4.63%, 8/1/2029 (a) |
60,000 | 54,129 | ||||||
Centene Corp. 4.63%, 12/15/2029 |
265,000 | 272,950 | ||||||
Community Health Systems, Inc. |
||||||||
5.63%, 3/15/2027 (a) |
25,000 | 25,205 | ||||||
6.00%, 1/15/2029 (a) |
75,000 | 75,094 | ||||||
4.75%, 2/15/2031 (a) |
85,000 | 80,006 | ||||||
CVS Health Corp. 4.10%, 3/25/2025 |
150,000 | 157,081 | ||||||
DaVita, Inc. 4.63%, 6/1/2030 (a) |
115,000 | 110,256 | ||||||
Encompass Health Corp. 4.75%, 2/1/2030 |
135,000 | 128,912 | ||||||
HCA, Inc. |
||||||||
5.38%, 9/1/2026 |
175,000 | 188,299 | ||||||
5.63%, 9/1/2028 |
255,000 | 282,545 |
SEE NOTES TO FINANCIAL STATEMENTS.
154 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Health Care Providers & Services — continued |
| |||||||
Highmark, Inc. 1.45%, 5/10/2026 (a) |
130,000 | 124,570 | ||||||
Tenet Healthcare Corp. |
||||||||
5.13%, 11/1/2027 (a) |
155,000 | 157,991 | ||||||
4.25%, 6/1/2029 (a) |
175,000 | 168,910 | ||||||
|
|
|||||||
1,891,111 | ||||||||
|
|
|||||||
Health Care Technology — 0.1% |
||||||||
IQVIA, Inc. 5.00%, 5/15/2027 (a) |
200,000 | 204,586 | ||||||
|
|
|||||||
Hotels, Restaurants & Leisure — 0.9% |
||||||||
1011778 BC ULC (Canada) 3.88%, 1/15/2028 (a) |
100,000 | 97,250 | ||||||
Boyd Gaming Corp. 8.63%, 6/1/2025 (a) |
13,000 | 13,682 | ||||||
Boyne USA, Inc. 4.75%, 5/15/2029 (a) |
40,000 | 39,300 | ||||||
Caesars Entertainment, Inc. 6.25%, 7/1/2025 (a) |
60,000 | 62,214 | ||||||
Caesars Resort Collection LLC 5.75%, 7/1/2025 (a) |
45,000 | 46,145 | ||||||
Carnival Corp. 9.88%, 8/1/2027 (a) |
100,000 | 112,250 | ||||||
Cedar Fair LP |
||||||||
5.50%, 5/1/2025 (a) |
30,000 | 30,836 | ||||||
5.38%, 4/15/2027 |
30,000 | 30,225 | ||||||
Gohl Capital Ltd. (Malaysia) 4.25%, 1/24/2027 (d) |
200,000 | 195,663 | ||||||
Hilton Domestic Operating Co., Inc. 4.88%, 1/15/2030 |
80,000 | 82,299 | ||||||
Hilton Worldwide Finance LLC 4.88%, 4/1/2027 |
50,000 | 51,063 | ||||||
International Game Technology plc 6.25%, 1/15/2027 (a) |
200,000 | 212,000 | ||||||
Marriott Ownership Resorts, Inc. 4.50%, 6/15/2029 (a) |
55,000 | 52,112 | ||||||
MGM Resorts International 5.50%, 4/15/2027 |
110,000 | 113,514 | ||||||
Royal Caribbean Cruises Ltd. 9.13%, 6/15/2023 (a) |
120,000 | 125,482 | ||||||
Scientific Games International, Inc. 5.00%, 10/15/2025 (a) |
45,000 | 45,450 | ||||||
Six Flags Entertainment Corp. 4.88%, 7/31/2024 (a) |
55,000 | 54,957 | ||||||
Six Flags Theme Parks, Inc. 7.00%, 7/1/2025 (a) |
50,000 | 52,222 | ||||||
Station Casinos LLC 4.50%, 2/15/2028 (a) |
55,000 | 52,869 | ||||||
Vail Resorts, Inc. 6.25%, 5/15/2025 (a) |
35,000 | 36,050 | ||||||
Wynn Resorts Finance LLC 7.75%, 4/15/2025 (a) |
90,000 | 93,951 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Hotels, Restaurants & Leisure — continued |
| |||||||
Yum! Brands, Inc. |
||||||||
7.75%, 4/1/2025 (a) |
30,000 | 31,258 | ||||||
4.75%, 1/15/2030 (a) |
30,000 | 30,450 | ||||||
4.63%, 1/31/2032 |
8,000 | 7,840 | ||||||
|
|
|||||||
1,669,082 | ||||||||
|
|
|||||||
Household Durables — 0.3% |
||||||||
CD&R Smokey Buyer, Inc. 6.75%, 7/15/2025 (a) |
60,000 | 61,950 | ||||||
Lennar Corp. 4.75%, 5/30/2025 |
150,000 | 158,623 | ||||||
Newell Brands, Inc. 4.70%, 4/1/2026 (f) |
40,000 | 41,407 | ||||||
PulteGroup, Inc. 5.50%, 3/1/2026 |
150,000 | 165,353 | ||||||
Tempur Sealy International, Inc. 4.00%, 4/15/2029 (a) |
60,000 | 56,545 | ||||||
|
|
|||||||
483,878 | ||||||||
|
|
|||||||
Household Products — 0.1% |
||||||||
Central Garden & Pet Co. |
||||||||
4.13%, 10/15/2030 |
35,000 | 33,243 | ||||||
4.13%, 4/30/2031 (a) |
35,000 | 32,725 | ||||||
Energizer Holdings, Inc. |
||||||||
4.75%, 6/15/2028 (a) |
45,000 | 42,525 | ||||||
4.38%, 3/31/2029 (a) |
50,000 | 45,062 | ||||||
Spectrum Brands, Inc. 5.00%, 10/1/2029 (a) |
100,000 | 98,750 | ||||||
|
|
|||||||
252,305 | ||||||||
|
|
|||||||
Independent Power and Renewable Electricity Producers — 0.1% |
| |||||||
Calpine Corp. 4.50%, 2/15/2028 (a) |
95,000 | 92,709 | ||||||
|
|
|||||||
Insurance — 0.6% |
||||||||
Athene Global Funding |
||||||||
0.95%, 1/8/2024 (a) |
259,000 | 253,127 | ||||||
0.91%, 8/19/2024 (a) |
295,000 | 285,844 | ||||||
2.50%, 1/14/2025 (a) |
308,000 | 307,469 | ||||||
Equitable Financial Life Global Funding 0.80%, 8/12/2024 (a) |
230,000 | 221,559 | ||||||
Jackson National Life Global Funding 3.88%, 6/11/2025 (a) |
150,000 | 157,276 | ||||||
|
|
|||||||
1,225,275 | ||||||||
|
|
|||||||
IT Services — 0.4% |
||||||||
Arches Buyer, Inc. 4.25%, 6/1/2028 (a) |
55,000 | 52,085 | ||||||
Black Knight InfoServ LLC 3.63%, 9/1/2028 (a) |
65,000 | 61,531 | ||||||
Block, Inc. |
||||||||
2.75%, 6/1/2026 (a) |
17,000 | 16,490 | ||||||
3.50%, 6/1/2031 (a) |
42,000 | 39,440 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 155 |
JPMorgan Short Duration Core Plus ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
IT Services — continued |
||||||||
Booz Allen Hamilton, Inc. |
||||||||
3.88%, 9/1/2028 (a) |
35,000 | 34,259 | ||||||
Gartner, Inc. |
||||||||
3.63%, 6/15/2029 (a) |
85,000 | 82,470 | ||||||
3.75%, 10/1/2030 (a) |
30,000 | 29,184 | ||||||
Global Payments, Inc. 1.20%, 3/1/2026 |
415,000 | 391,712 | ||||||
Presidio Holdings, Inc. 4.88%, 2/1/2027 (a) |
50,000 | 49,875 | ||||||
|
|
|||||||
757,046 | ||||||||
|
|
|||||||
Leisure Products — 0.1% |
||||||||
Mattel, Inc. |
||||||||
3.38%, 4/1/2026 (a) |
64,000 | 63,558 | ||||||
3.75%, 4/1/2029 (a) |
30,000 | 30,030 | ||||||
Vista Outdoor, Inc. 4.50%, 3/15/2029 (a) |
65,000 | 60,938 | ||||||
|
|
|||||||
154,526 | ||||||||
|
|
|||||||
Life Sciences Tools & Services — 0.0% (e) |
||||||||
Charles River Laboratories International, Inc. 3.75%, 3/15/2029 (a) |
40,000 | 38,448 | ||||||
|
|
|||||||
Machinery — 0.1% |
||||||||
Colfax Corp. 6.38%, 2/15/2026 (a) |
85,000 | 87,337 | ||||||
|
|
|||||||
Media — 1.0% |
||||||||
Clear Channel Outdoor Holdings, Inc 5.13%, 8/15/2027 (a) |
65,000 | 64,942 | ||||||
Clear Channel Outdoor Holdings, Inc. 7.75%, 4/15/2028 (a) |
30,000 | 31,350 | ||||||
CSC Holdings LLC 6.50%, 2/1/2029 (a) |
200,000 | 202,500 | ||||||
Directv Financing LLC 5.88%, 8/15/2027 (a) |
55,000 | 54,981 | ||||||
DISH DBS Corp. |
||||||||
5.88%, 11/15/2024 |
50,000 | 50,000 | ||||||
7.75%, 7/1/2026 |
310,000 | 313,934 | ||||||
5.25%, 12/1/2026 (a) |
110,000 | 107,834 | ||||||
Gray Escrow II, Inc. 5.38%, 11/15/2031 (a) |
100,000 | 96,266 | ||||||
iHeartCommunications, Inc. |
||||||||
8.38%, 5/1/2027 |
25,000 | 26,042 | ||||||
5.25%, 8/15/2027 (a) |
110,000 | 109,565 | ||||||
Lamar Media Corp. 4.00%, 2/15/2030 |
60,000 | 57,751 | ||||||
Midas OpCo Holdings LLC 5.63%, 8/15/2029 (a) |
75,000 | 73,500 | ||||||
News Corp. 3.88%, 5/15/2029 (a) |
74,000 | 70,855 | ||||||
Nexstar Media, Inc. 5.63%, 7/15/2027 (a) |
110,000 | 112,475 | ||||||
Outfront Media Capital LLC |
||||||||
6.25%, 6/15/2025 (a) |
22,000 | 22,853 | ||||||
5.00%, 8/15/2027 (a) |
55,000 | 54,505 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Media — continued |
||||||||
Scripps Escrow II, Inc. 3.88%, 1/15/2029 (a) |
40,000 | 37,486 | ||||||
Sinclair Television Group, Inc. 4.13%, 12/1/2030 (a) |
65,000 | 58,195 | ||||||
Sirius XM Radio, Inc. |
||||||||
5.00%, 8/1/2027 (a) |
55,000 | 55,744 | ||||||
5.50%, 7/1/2029 (a) |
210,000 | 214,725 | ||||||
TEGNA, Inc. 5.00%, 9/15/2029 |
90,000 | 89,752 | ||||||
Univision Communications, Inc. 4.50%, 5/1/2029 (a) |
59,000 | 56,474 | ||||||
Videotron Ltd. (Canada) 5.13%, 4/15/2027 (a) |
45,000 | 45,788 | ||||||
|
|
|||||||
2,007,517 | ||||||||
|
|
|||||||
Metals & Mining — 0.5% |
||||||||
Alcoa Nederland Holding BV 6.13%, 5/15/2028 (a) |
200,000 | 210,500 | ||||||
Allegheny Technologies, Inc. 5.88%, 12/1/2027 |
75,000 | 76,538 | ||||||
Arconic Corp. 6.13%, 2/15/2028 (a) |
85,000 | 86,913 | ||||||
Carpenter Technology Corp. 6.38%, 7/15/2028 |
75,000 | 75,656 | ||||||
Cleveland-Cliffs, Inc. |
||||||||
6.75%, 3/15/2026 (a) |
70,000 | 73,776 | ||||||
4.63%, 3/1/2029 (a) |
20,000 | 19,300 | ||||||
FMG Resources August 2006 Pty. Ltd. (Australia) 4.50%, 9/15/2027 (a) |
70,000 | 70,197 | ||||||
Freeport-McMoRan, Inc. |
||||||||
4.38%, 8/1/2028 |
80,000 | 81,000 | ||||||
4.63%, 8/1/2030 |
100,000 | 103,234 | ||||||
Glencore Funding LLC (Australia) 1.63%, 9/1/2025 (a) |
90,000 | 86,807 | ||||||
Kaiser Aluminum Corp. 4.63%, 3/1/2028 (a) |
30,000 | 28,328 | ||||||
Novelis Corp. 4.75%, 1/30/2030 (a) |
85,000 | 83,174 | ||||||
|
|
|||||||
995,423 | ||||||||
|
|
|||||||
Multiline Retail — 0.0% (e) |
||||||||
Nordstrom, Inc. 2.30%, 4/8/2024 |
20,000 | 19,250 | ||||||
|
|
|||||||
Multi-Utilities — 0.0% (e) |
||||||||
Puget Energy, Inc. 2.38%, 6/15/2028 |
50,000 | 47,535 | ||||||
|
|
|||||||
Oil, Gas & Consumable Fuels — 2.8% |
||||||||
Antero Midstream Partners LP |
||||||||
7.88%, 5/15/2026 (a) |
20,000 | 21,500 | ||||||
5.38%, 6/15/2029 (a) |
30,000 | 30,150 | ||||||
Antero Resources Corp. |
||||||||
7.63%, 2/1/2029 (a) |
29,000 | 31,393 | ||||||
5.38%, 3/1/2030 (a) |
65,000 | 66,219 |
SEE NOTES TO FINANCIAL STATEMENTS.
156 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Oil, Gas & Consumable Fuels — continued |
| |||||||
Apache Corp. 4.88%, 11/15/2027 |
120,000 | 123,300 | ||||||
APT Pipelines Ltd. (Australia) 4.20%, 3/23/2025 (a) |
350,000 | 364,131 | ||||||
Baytex Energy Corp. (Canada) 5.63%, 6/1/2024 (a) |
45,000 | 44,887 | ||||||
Buckeye Partners LP 4.13%, 12/1/2027 |
90,000 | 85,005 | ||||||
Cheniere Corpus Christi Holdings LLC 5.13%, 6/30/2027 |
150,000 | 163,571 | ||||||
Cheniere Energy Partners LP |
||||||||
4.50%, 10/1/2029 |
100,000 | 101,920 | ||||||
3.25%, 1/31/2032 (a) |
53,000 | 49,820 | ||||||
Chesapeake Energy Corp. 6.75%, 4/15/2029 (a) |
80,000 | 84,576 | ||||||
CNX Resources Corp. |
||||||||
7.25%, 3/14/2027 (a) |
40,000 | 42,254 | ||||||
6.00%, 1/15/2029 (a) |
60,000 | 61,272 | ||||||
Comstock Resources, Inc. 6.75%, 3/1/2029 (a) |
65,000 | 66,141 | ||||||
Crestwood Midstream Partners LP |
||||||||
5.63%, 5/1/2027 (a) |
55,000 | 54,588 | ||||||
8.00%, 4/1/2029 (a) |
40,000 | 42,559 | ||||||
DCP Midstream Operating LP 5.63%, 7/15/2027 |
85,000 | 91,290 | ||||||
DT Midstream, Inc. 4.13%, 6/15/2029 (a) |
95,000 | 91,675 | ||||||
Ecopetrol SA (Colombia) 5.38%, 6/26/2026 |
150,000 | 153,274 | ||||||
Energean Israel Finance Ltd. (Israel) |
||||||||
4.50%, 3/30/2024 (d) |
12,000 | 11,610 | ||||||
4.88%, 3/30/2026 (d) |
10,000 | 9,500 | ||||||
Energy Transfer LP 4.05%, 3/15/2025 |
105,000 | 108,690 | ||||||
EnLink Midstream Partners LP 4.15%, 6/1/2025 |
95,000 | 95,119 | ||||||
EQM Midstream Partners LP |
||||||||
4.00%, 8/1/2024 |
30,000 | 29,400 | ||||||
6.00%, 7/1/2025 (a) |
40,000 | 40,800 | ||||||
6.50%, 7/1/2027 (a) |
50,000 | 52,294 | ||||||
EQT Corp. 3.90%, 10/1/2027 |
105,000 | 106,123 | ||||||
Genesis Energy LP 6.25%, 5/15/2026 |
70,000 | 67,200 | ||||||
Gray Oak Pipeline LLC 2.60%, 10/15/2025 (a) |
475,000 | 469,682 | ||||||
Greenko Dutch BV (India) 3.85%, 3/29/2026 (a) |
197,000 | 191,090 | ||||||
Gulfport Energy Corp. 8.00%, 5/17/2026 (a) |
55,000 | 58,162 | ||||||
Hess Midstream Operations LP 5.63%, 2/15/2026 (a) |
70,000 | 71,750 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Oil, Gas & Consumable Fuels — continued |
| |||||||
Leviathan Bond Ltd. (Israel) 6.13%, 6/30/2025 (d) |
50,000 | 50,681 | ||||||
Lundin Energy Finance BV (Netherlands) 2.00%, 7/15/2026 (a) |
200,000 | 193,125 | ||||||
MEG Energy Corp. (Canada) 7.13%, 2/1/2027 (a) |
50,000 | 52,157 | ||||||
MPLX LP 4.88%, 12/1/2024 |
150,000 | 158,946 | ||||||
NGL Energy Operating LLC 7.50%, 2/1/2026 (a) |
30,000 | 30,124 | ||||||
NuStar Logistics LP 5.63%, 4/28/2027 |
60,000 | 60,054 | ||||||
Occidental Petroleum Corp. |
||||||||
8.00%, 7/15/2025 |
110,000 | 124,456 | ||||||
5.88%, 9/1/2025 |
45,000 | 48,263 | ||||||
6.13%, 1/1/2031 |
180,000 | 204,678 | ||||||
Oil and Gas Holding Co. BSCC (The) (Bahrain) 7.63%, 11/7/2024 (d) |
200,000 | 209,000 | ||||||
Petroleos Mexicanos (Mexico) |
||||||||
4.25%, 1/15/2025 |
100,000 | 99,850 | ||||||
4.50%, 1/23/2026 |
100,000 | 98,240 | ||||||
6.88%, 8/4/2026 |
30,000 | 31,663 | ||||||
6.49%, 1/23/2027 |
200,000 | 205,300 | ||||||
Range Resources Corp. |
||||||||
4.88%, 5/15/2025 |
60,000 | 60,900 | ||||||
4.75%, 2/15/2030 (a) |
50,000 | 48,938 | ||||||
Southwestern Energy Co. |
||||||||
5.38%, 2/1/2029 |
45,000 | 46,295 | ||||||
5.38%, 3/15/2030 |
105,000 | 108,412 | ||||||
Sunoco LP |
||||||||
6.00%, 4/15/2027 |
60,000 | 61,934 | ||||||
5.88%, 3/15/2028 |
45,000 | 45,788 | ||||||
Tallgrass Energy Partners LP |
||||||||
7.50%, 10/1/2025 (a) |
25,000 | 26,250 | ||||||
6.00%, 12/31/2030 (a) |
85,000 | 81,869 | ||||||
Targa Resources Partners LP |
||||||||
6.88%, 1/15/2029 |
150,000 | 163,262 | ||||||
4.88%, 2/1/2031 |
60,000 | 61,679 | ||||||
Trinidad Petroleum Holdings Ltd. (Trinidad and Tobago) 9.75%, 6/15/2026 (a) |
25,000 | 25,630 | ||||||
Western Midstream Operating LP 4.75%, 8/15/2028 |
55,000 | 56,925 | ||||||
|
|
|||||||
5,435,364 | ||||||||
|
|
|||||||
Paper & Forest Products — 0.1% |
||||||||
Fibria Overseas Finance Ltd. (Brazil) 5.50%, 1/17/2027 |
100,000 | 107,162 | ||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 157 |
JPMorgan Short Duration Core Plus ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Personal Products — 0.1% |
||||||||
Edgewell Personal Care Co. 5.50%, 6/1/2028 (a) |
120,000 | 120,600 | ||||||
Prestige Brands, Inc. 5.13%, 1/15/2028 (a) |
60,000 | 60,075 | ||||||
|
|
|||||||
180,675 | ||||||||
|
|
|||||||
Pharmaceuticals — 0.6% |
||||||||
Bausch Health Americas, Inc. |
||||||||
9.25%, 4/1/2026 (a) |
310,000 | 320,528 | ||||||
8.50%, 1/31/2027 (a) |
120,000 | 121,442 | ||||||
Bausch Health Cos., Inc. 4.88%, 6/1/2028 (a) |
285,000 | 273,763 | ||||||
Jazz Securities DAC 4.38%, 1/15/2029 (a) |
200,000 | 198,092 | ||||||
Organon & Co. 5.13%, 4/30/2031 (a) |
200,000 | 199,654 | ||||||
Par Pharmaceutical, Inc. 7.50%, 4/1/2027 (a) |
50,000 | 50,082 | ||||||
|
|
|||||||
1,163,561 | ||||||||
|
|
|||||||
Real Estate Management & Development — 0.1% |
| |||||||
Country Garden Holdings Co. Ltd. (China) 3.13%, 10/22/2025 (d) |
200,000 | 140,900 | ||||||
Kennedy-Wilson, Inc. 4.75%, 3/1/2029 |
75,000 | 73,252 | ||||||
Realogy Group LLC 5.75%, 1/15/2029 (a) |
55,000 | 54,381 | ||||||
|
|
|||||||
268,533 | ||||||||
|
|
|||||||
Road & Rail — 0.4% |
||||||||
Avis Budget Car Rental LLC |
||||||||
5.75%, 7/15/2027 (a) |
45,000 | 45,361 | ||||||
4.75%, 4/1/2028 (a) |
35,000 | 33,250 | ||||||
Hertz Corp. (The) 4.63%, 12/1/2026 (a) |
75,000 | 71,438 | ||||||
Triton Container International Ltd. (Bermuda) |
||||||||
1.15%, 6/7/2024 (a) |
200,000 | 194,600 | ||||||
2.05%, 4/15/2026 (a) |
359,000 | 347,691 | ||||||
Uber Technologies, Inc. 7.50%, 5/15/2025 (a) |
60,000 | 62,415 | ||||||
XPO Logistics, Inc. 6.25%, 5/1/2025 (a) |
50,000 | 51,856 | ||||||
|
|
|||||||
806,611 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment — 0.4% |
| |||||||
Broadcom Corp. 3.88%, 1/15/2027 |
150,000 | 156,180 | ||||||
Marvell Technology, Inc. 1.65%, 4/15/2026 |
125,000 | 120,368 | ||||||
Microchip Technology, Inc. 4.25%, 9/1/2025 |
380,000 | 389,989 | ||||||
ON Semiconductor Corp. 3.88%, 9/1/2028 (a) |
75,000 | 74,344 | ||||||
|
|
|||||||
740,881 | ||||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Software — 0.2% |
||||||||
CDK Global, Inc. 4.88%, 6/1/2027 |
35,000 | 35,842 | ||||||
Clarivate Science Holdings Corp. |
||||||||
3.88%, 7/1/2028 (a) |
70,000 | 66,150 | ||||||
Fair Isaac Corp. 4.00%, 6/15/2028 (a) |
35,000 | 34,344 | ||||||
NCR Corp. |
||||||||
5.13%, 4/15/2029 (a) |
9,000 | 8,899 | ||||||
6.13%, 9/1/2029 (a) |
115,000 | 119,347 | ||||||
Nuance Communications, Inc. 5.63%, 12/15/2026 |
30,000 | 30,830 | ||||||
SS&C Technologies, Inc. 5.50%, 9/30/2027 (a) |
70,000 | 71,943 | ||||||
|
|
|||||||
367,355 | ||||||||
|
|
|||||||
Specialty Retail — 0.4% |
||||||||
Asbury Automotive Group, Inc. 4.50%, 3/1/2028 |
65,000 | 63,884 | ||||||
Bath & Body Works, Inc. |
||||||||
5.25%, 2/1/2028 |
45,000 | 46,829 | ||||||
7.50%, 6/15/2029 |
20,000 | 21,918 | ||||||
6.75%, 7/1/2036 |
25,000 | 27,267 | ||||||
Gap, Inc. (The) 3.63%, 10/1/2029 (a) |
95,000 | 86,023 | ||||||
Group 1 Automotive, Inc. 4.00%, 8/15/2028 (a) |
55,000 | 53,006 | ||||||
Lithia Motors, Inc. |
||||||||
4.63%, 12/15/2027 (a) |
35,000 | 35,788 | ||||||
4.38%, 1/15/2031 (a) |
35,000 | 35,262 | ||||||
Penske Automotive Group, Inc. |
||||||||
3.50%, 9/1/2025 |
30,000 | 29,702 | ||||||
3.75%, 6/15/2029 |
25,000 | 23,344 | ||||||
PetSmart, Inc. 4.75%, 2/15/2028 (a) |
250,000 | 249,375 | ||||||
SRS Distribution, Inc. 4.63%, 7/1/2028 (a) |
55,000 | 52,731 | ||||||
Staples, Inc. 7.50%, 4/15/2026 (a) |
60,000 | 59,322 | ||||||
|
|
|||||||
784,451 | ||||||||
|
|
|||||||
Technology Hardware, Storage & Peripherals — 0.0% (e) |
| |||||||
Seagate HDD Cayman 4.88%, 6/1/2027 |
50,000 | 51,375 | ||||||
|
|
|||||||
Textiles, Apparel & Luxury Goods — 0.0% (e) |
| |||||||
William Carter Co. (The) 5.63%, 3/15/2027 (a) |
35,000 | 35,656 | ||||||
|
|
|||||||
Thrifts & Mortgage Finance — 1.3% |
||||||||
BPCE SA (France) |
||||||||
5.70%, 10/22/2023 (a) |
400,000 | 420,034 | ||||||
5.15%, 7/21/2024 (a) |
285,000 | 298,855 | ||||||
2.38%, 1/14/2025 (a) |
500,000 | 494,472 | ||||||
4.50%, 3/15/2025 (a) |
200,000 | 207,653 |
SEE NOTES TO FINANCIAL STATEMENTS.
158 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Thrifts & Mortgage Finance — continued |
| |||||||
Ladder Capital Finance Holdings LLLP REIT, 5.25%, 10/1/2025 (a) |
85,000 | 85,212 | ||||||
Nationstar Mortgage Holdings, Inc. 6.00%, 1/15/2027 (a) |
80,000 | 81,200 | ||||||
Nationwide Building Society (United Kingdom) |
||||||||
(ICE LIBOR USD 3 Month + 1.06%), 3.77%, 3/8/2024 (a) (c) |
200,000 | 203,209 | ||||||
(ICE LIBOR USD 3 Month + 1.39%), 4.36%, 8/1/2024 (a) (c) |
200,000 | 205,681 | ||||||
4.00%, 9/14/2026 (a) |
350,000 | 363,360 | ||||||
Rocket Mortgage LLC |
||||||||
2.88%, 10/15/2026 (a) |
19,000 | 17,851 | ||||||
3.63%, 3/1/2029 (a) |
50,000 | 46,819 | ||||||
4.00%, 10/15/2033 (a) |
5,000 | 4,654 | ||||||
|
|
|||||||
2,429,000 | ||||||||
|
|
|||||||
Tobacco — 0.2% |
||||||||
Imperial Brands Finance plc (United Kingdom) 3.13%, 7/26/2024 (a) |
200,000 | 202,218 | ||||||
Reynolds American, Inc. (United Kingdom) 4.45%, 6/12/2025 |
150,000 | 156,865 | ||||||
|
|
|||||||
359,083 | ||||||||
|
|
|||||||
Trading Companies & Distributors — 0.8% |
| |||||||
Air Lease Corp. |
||||||||
4.25%, 2/1/2024 |
150,000 | 154,886 | ||||||
2.30%, 2/1/2025 |
480,000 | 474,225 | ||||||
Aviation Capital Group LLC |
||||||||
4.38%, 1/30/2024 (a) |
200,000 | 204,868 | ||||||
5.50%, 12/15/2024 (a) |
150,000 | 159,514 | ||||||
1.95%, 1/30/2026 (a) |
250,000 | 238,055 | ||||||
Herc Holdings, Inc. 5.50%, 7/15/2027 (a) |
60,000 | 61,500 | ||||||
Imola Merger Corp. 4.75%, 5/15/2029 (a) |
82,000 | 79,524 | ||||||
United Rentals North America, Inc. 4.88%, 1/15/2028 |
155,000 | 158,191 | ||||||
WESCO Distribution, Inc. 7.25%, 6/15/2028 (a) |
70,000 | 75,156 | ||||||
|
|
|||||||
1,605,919 | ||||||||
|
|
|||||||
Wireless Telecommunication Services — 0.3% |
| |||||||
Hughes Satellite Systems Corp. 6.63%, 8/1/2026 |
75,000 | 78,115 | ||||||
Sprint Corp. 7.63%, 3/1/2026 |
180,000 | 205,212 | ||||||
T-Mobile USA, Inc. |
||||||||
3.50%, 4/15/2025 |
150,000 | 154,203 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Wireless Telecommunication Services — continued |
| |||||||
4.75%, 2/1/2028 |
75,000 | 77,426 | ||||||
|
|
|||||||
514,956 | ||||||||
|
|
|||||||
Total
Corporate Bonds |
|
74,218,559 | ||||||
|
|
|||||||
U.S. Treasury Obligations — 22.0% |
||||||||
U.S. Treasury Notes |
||||||||
0.50%, 11/30/2023 |
1,530,000 | 1,505,556 | ||||||
0.38%, 8/15/2024 |
835,000 | 810,994 | ||||||
0.38%, 9/15/2024 |
2,225,000 | 2,157,642 | ||||||
0.63%, 10/15/2024 |
4,355,000 | 4,246,465 | ||||||
0.75%, 11/15/2024 |
7,280,000 | 7,112,219 | ||||||
1.00%, 12/15/2024 |
18,055,000 | 17,751,732 | ||||||
1.13%, 1/15/2025 |
260,000 | 256,323 | ||||||
1.50%, 2/15/2025 |
6,300,000 | 6,274,898 | ||||||
0.50%, 2/28/2026 |
15,000 | 14,285 | ||||||
0.75%, 5/31/2026 |
80,000 | 76,738 | ||||||
0.75%, 8/31/2026 |
80,000 | 76,556 | ||||||
0.88%, 9/30/2026 |
420,000 | 403,774 | ||||||
1.25%, 12/31/2026 |
150,000 | 146,531 | ||||||
1.50%, 1/31/2027 |
750,000 | 741,152 | ||||||
1.25%, 9/30/2028 |
140,000 | 134,958 | ||||||
1.38%, 12/31/2028 |
590,000 | 572,853 | ||||||
|
|
|||||||
Total
U.S. Treasury Obligations |
|
42,282,676 | ||||||
|
|
|||||||
Asset-Backed Securities — 17.0% |
||||||||
ACC Auto Trust Series 2021-A, Class A, 1.08%, 4/15/2027 (a) |
276,146 | 274,853 | ||||||
ACC Trust Series 2020-A, Class A, 6.00%, 3/20/2023 (a) |
47,883 | 48,154 | ||||||
Accelerated LLC Series 2021-1H, Class B, 1.90%, 10/20/2040 ‡ (a) |
291,918 | 281,309 | ||||||
Affirm Asset Securitization Trust Series 2020-A, Class A, 2.10%, 2/18/2025 (a) |
225,000 | 225,120 | ||||||
AIMCO CLO Ltd. (Cayman Islands) Series 2019-10A, Class AR, 1.32%, 7/22/2032 (a) (g) |
350,000 | 348,846 | ||||||
Aligned Data Centers Issuer LLC Series 2021-1A, Class A2, 1.94%, 8/15/2046 (a) |
263,000 | 251,869 | ||||||
American Credit Acceptance Receivables Trust Series 2020-1, Class E, 3.32%, 3/13/2026 (a) |
450,000 | 454,576 | ||||||
AMSR Trust |
||||||||
Series 2021-SFR3, Class E1, 2.33%, 10/17/2038 ‡ (a) |
300,000 | 278,760 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 159 |
JPMorgan Short Duration Core Plus ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Asset-Backed Securities — continued |
| |||||||
Series 2021-SFR4, Class E1, 2.97%, 12/17/2038 ‡ (a) |
400,000 | 379,423 | ||||||
Aqua Finance Trust Series 2021-A, Class B, 2.40%, 7/17/2046 ‡ (a) |
313,000 | 301,927 | ||||||
Ares CLO Ltd. (Cayman Islands) Series 2016-40A, Class A1RR, 1.11%, 1/15/2029 (a) (g) |
750,866 | 749,957 | ||||||
Atlas Senior Loan Fund (Cayman Islands) Series 2019-13A, Class A1NR, 1.34%, 4/22/2031 (a) (g) |
200,000 | 199,470 | ||||||
Bain Capital Credit CLO Ltd. (Cayman Islands) Series 2017-1A, Class A1R, 1.22%, 7/20/2030 (a) (g) |
337,000 | 335,718 | ||||||
Ballyrock CLO Ltd. (Cayman Islands) Series 2019-1A, Class A1R, 1.27%, 7/15/2032 (a) (g) |
250,000 | 249,127 | ||||||
BSPRT Issuer Ltd. (Cayman Islands) Series 2021-FL7, Class B, 2.24%, 12/15/2038 ‡ (a) (g) |
475,000 | 473,829 | ||||||
Business Jet Securities LLC |
||||||||
Series 2020-1A, Class A, 2.98%, 11/15/2035 (a) |
603,679 | 601,683 | ||||||
Series 2021-1A, Class A, 2.16%, 4/15/2036 (a) |
308,237 | 296,969 | ||||||
CarMax Auto Owner Trust Series 2018-1, Class D, 3.37%, 7/15/2024 |
185,000 | 185,197 | ||||||
CarNow Auto Receivables Trust |
||||||||
Series 2021-1A, Class C, 2.16%, 2/17/2026 (a) |
196,000 | 193,796 | ||||||
Series 2021-2A, Class C, 1.69%, 3/15/2027 (a) |
500,000 | 489,533 | ||||||
CIFC Funding Ltd. (Cayman Islands) |
||||||||
Series 2012-2RA, Class A1, 1.05%, 1/20/2028 (a) (g) |
170,667 | 170,532 | ||||||
Series 2019-1A, Class AR, 1.35%, 4/20/2032 (a) (g) |
250,000 | 249,767 | ||||||
Consumer Loan Underlying Bond Certificate Issuer Trust I Series 2019-HP1, Class B, 3.48%, 12/15/2026 ‡ (a) |
200,000 | 201,257 | ||||||
Continental Finance Credit Card ABS Master Trust Series 2021-A, Class A, 2.55%, 12/17/2029 (a) |
400,000 | 392,965 | ||||||
CPS Auto Receivables Trust |
||||||||
Series 2019-B, Class E, 5.00%, 3/17/2025 (a) |
500,000 | 515,952 | ||||||
Series 2019-A, Class E, 5.81%, 3/16/2026 (a) |
500,000 | 519,414 | ||||||
Series 2021-C, Class C, 1.21%, 6/15/2027 (a) |
244,000 | 238,048 | ||||||
Series 2021-D, Class D, 2.31%, 12/15/2027 (a) |
200,000 | 194,792 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Credit Acceptance Auto Loan Trust Series 2021-3A, Class C, 1.63%, 9/16/2030 (a) |
250,000 | 241,786 | ||||||
Crossroads Asset Trust Series 2021-A, Class C, 1.44%, 1/20/2026 ‡ (a) |
125,000 | 122,309 | ||||||
Dext ABS LLC Series 2021-1, Class A, 1.12%, 2/15/2028 (a) |
267,572 | 264,285 | ||||||
Dryden Senior Loan Fund (Cayman Islands) Series 2017-49A, Class AR, 1.19%, 7/18/2030 (a) (g) |
500,000 | 499,468 | ||||||
DT Auto Owner Trust |
||||||||
Series 2018-2A, Class E, 5.54%, 6/16/2025 (a) |
185,000 | 188,585 | ||||||
Series 2020-1A, Class D, 2.55%, 11/17/2025 (a) |
190,000 | 190,421 | ||||||
Series 2021-1A, Class D, 1.16%, 11/16/2026 (a) |
250,000 | 242,771 | ||||||
Series 2021-3A, Class D, 1.31%, 5/17/2027 (a) |
250,000 | 239,911 | ||||||
Exeter Automobile Receivables Trust |
||||||||
Series 2019-3A, Class D, 3.11%, 8/15/2025 (a) |
195,000 | 197,827 | ||||||
Series 2021-2A, Class D, 1.40%, 4/15/2027 |
210,000 | 205,223 | ||||||
Series 2021-4A, Class D, 1.96%, 1/17/2028 |
480,000 | 468,010 | ||||||
FCI Funding LLC Series 2021-1A, Class A, 1.13%, 4/15/2033 (a) |
126,376 | 125,057 | ||||||
FHF Trust |
||||||||
Series 2021-2A, Class A, 0.83%, 12/15/2026 (a) |
372,961 | 366,893 | ||||||
Series 2021-1A, Class A, 1.27%, 3/15/2027 (a) |
127,596 | 125,696 | ||||||
First Investors Auto Owner Trust Series 2017-3A, Class D, 3.44%, 3/15/2024 (a) |
153,112 | 153,896 | ||||||
FirstKey Homes Trust Series 2021-SFR3, Class E1, 2.99%, 12/17/2038 ‡ (a) |
500,000 | 474,272 | ||||||
Flagship Credit Auto Trust |
||||||||
Series 2021-1, Class D, 1.27%, 3/15/2027 (a) |
225,000 | 217,159 | ||||||
Series 2021-3, Class C, 1.46%, 9/15/2027 (a) |
143,000 | 137,913 | ||||||
Foundation Finance Trust Series 2021-1A, Class A, 1.27%, 5/15/2041 (a) |
142,145 | 137,674 | ||||||
Foursight Capital Automobile Receivables Trust Series 2018-2, Class F, 6.48%, 6/15/2026 (a) |
145,000 | 146,865 | ||||||
FREED ABS Trust Series 2021-1CP, Class B, 1.41%, 3/20/2028 ‡ (a) |
185,000 | 183,460 |
SEE NOTES TO FINANCIAL STATEMENTS.
160 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Asset-Backed Securities — continued |
| |||||||
FRTKL Series 2021-SFR1, Class D, 2.17%, 9/17/2038 ‡ (a) |
238,000 | 221,043 | ||||||
Galaxy CLO Ltd. (Cayman Islands) |
||||||||
Series 2015-19A, Class A1RR, 1.21%, 7/24/2030 (a) (g) |
250,000 | 249,632 | ||||||
Series 2015-21A, Class AR, 1.27%, 4/20/2031 (a) (g) |
250,000 | 249,404 | ||||||
GLS Auto Receivables Issuer Trust |
||||||||
Series 2019-4A, Class C, 3.06%, 8/15/2025 (a) |
175,000 | 176,797 | ||||||
Series 2021-3A, Class D, 1.48%, 7/15/2027 (a) |
200,000 | 192,761 | ||||||
Goldman Home Improvement Trust Issuer Trust Series 2021-GRN2, Class A, 1.15%, 6/25/2051 (a) |
182,226 | 177,249 | ||||||
Home Partners of America Trust Series 2021-3, Class E1, 3.20%, 1/17/2041 ‡ (a) |
499,222 | 473,200 | ||||||
LCM LP (Cayman Islands) Series 14A, Class AR, 1.29%, 7/20/2031 (a) (g) |
400,000 | 399,679 | ||||||
LCM Ltd. (Cayman Islands) Series 26A, Class A1, 1.32%, 1/20/2031 (a) (g) |
250,000 | 249,708 | ||||||
Lendbuzz Securitization Trust Series 2021-1A, Class A, 1.46%, 6/15/2026 (a) |
218,091 | 216,089 | ||||||
Lendingpoint Asset Securitization Trust |
||||||||
Series 2021-A, Class B, 1.46%, 12/15/2028 ‡ (a) |
203,000 | 199,688 | ||||||
Series 2022-A, Class C, 2.82%, 6/15/2029 (a) |
300,000 | 297,153 | ||||||
LendingPoint Asset Securitization Trust Series 2020-REV1, Class B, 4.49%, 10/15/2028 ‡ (a) |
300,000 | 302,608 | ||||||
LendingPoint Pass-Through Trust Series 2022-ST1, Class A, 2.50%, 3/15/2028 (a) |
234,000 | 232,306 | ||||||
Lendmark Funding Trust Series 2019-2A, Class A, 2.78%, 4/20/2028 (a) |
225,000 | 226,840 | ||||||
LL ABS Trust |
||||||||
Series 2019-1A, Class B, 3.52%, 3/15/2027 ‡ (a) |
4,530 | 4,534 | ||||||
Series 2021-1A, Class A, 1.07%, 5/15/2029 (a) |
217,095 | 214,218 | ||||||
LMREC LLC Series 2021-CRE4, Class A, 1.24%, 4/22/2037 (a) (g) |
184,000 | 183,586 | ||||||
Longfellow Place CLO Ltd. (Cayman Islands) Series 2013-1A, Class AR3, 1.24%, 4/15/2029 (a) (g) |
123,267 | 123,211 | ||||||
Mariner Finance Issuance Trust Series 2021-AA, Class A, 1.86%, 3/20/2036 (a) |
192,000 | 184,257 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mercury Financial Credit Card Master Trust Series 2021-1A, Class A, 1.54%, 3/20/2026 (a) |
284,000 | 281,044 | ||||||
Mission Lane Credit Card Master Trust Series 2021-A, Class A, 1.59%, 9/15/2026 (a) |
355,000 | 349,613 | ||||||
MVW LLC |
||||||||
Series 2021-1WA, Class A, 1.14%, 1/22/2041 (a) |
187,028 | 181,146 | ||||||
Series 2021-1WA, Class B, 1.44%, 1/22/2041 ‡ (a) |
80,270 | 77,391 | ||||||
Neuberger Berman CLO (Cayman Islands) Series 2013-15A, Class A1R2, 1.16%, 10/15/2029 (a) (g) |
608,000 | 606,312 | ||||||
Neuberger Berman Loan Advisers CLO Ltd. (Cayman Islands) Series 2020-37A, Class AR, 1.22%, 7/20/2031 (a) (g) |
354,000 | 353,204 | ||||||
New Residential Mortgage Loan Trust Series 2022-SFR1, Class E1, 3.55%, 2/17/2039 (a) |
520,000 | 500,583 | ||||||
NMEF Funding LLC Series 2021-A, Class B, 1.85%, 12/15/2027 ‡ (a) |
178,000 | 173,729 | ||||||
NRZ Excess Spread-Collateralized Notes Series 2021-FNT1, Class A, 2.98%, 3/25/2026 (a) |
139,966 | 135,558 | ||||||
Oportun Funding XIV LLC Series 2021-A, Class A, 1.21%, 3/8/2028 (a) |
172,000 | 168,051 | ||||||
Pagaya AI Debt Selection Trust |
||||||||
Series 2021-1, Class A, 1.18%, 11/15/2027 (a) |
123,205 | 122,211 | ||||||
Series 2021-HG1, Class A, 1.22%, 1/16/2029 (a) |
303,362 | 299,383 | ||||||
Series 2021-3, Class A, 1.15%, 5/15/2029 (a) |
198,205 | 195,640 | ||||||
Palmer Square Loan Funding Ltd. (Cayman Islands) |
||||||||
Series 2020-1A, Class A1, 1.28%, 2/20/2028 (a) (g) |
99,183 | 99,159 | ||||||
Series 2021-2A, Class A1, 1.28%, 5/20/2029 (a) (g) |
154,784 | 154,384 | ||||||
PRET LLC |
||||||||
Series 2021-NPL3, Class A1, 1.87%, 7/25/2051 (a) (f) |
227,022 | 222,102 | ||||||
Series 2021-NPL6, Class A1, 2.49%, 7/25/2051 ‡ (a) (f) |
359,136 | 351,814 | ||||||
Series 2021-RN4, Class A1, 2.49%, 10/25/2051 (a) (g) |
524,446 | 517,974 | ||||||
Pretium Mortgage Credit Partners I LLC |
||||||||
Series 2021-NPL2, Class A1, 1.99%, 6/27/2060 (a) (f) |
240,849 | 234,592 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 161 |
JPMorgan Short Duration Core Plus ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Asset-Backed Securities — continued |
| |||||||
Series 2021-NPL1, Class A1, 2.24%, 9/27/2060 (a) (f) |
194,420 | 190,411 | ||||||
Progress Residential Series 2021-SFR3, Class E1, 2.54%, 5/17/2026 ‡ (a) |
200,000 | 185,816 | ||||||
Progress Residential Trust Series 2021-SFR8, Class E1, 2.38%, 10/17/2038 ‡ (a) |
350,000 | 322,823 | ||||||
Santander Drive Auto Receivables Trust |
||||||||
Series 2021-1, Class D, 1.13%, 11/16/2026 |
190,000 | 186,925 | ||||||
Series 2021-3, Class D, 1.33%, 9/15/2027 |
300,000 | 291,766 | ||||||
Skopos Auto Receivables Trust Series 2019-1A, Class C, 3.63%, 9/16/2024 (a) |
134,412 | 135,383 | ||||||
SoFi Consumer Loan Program Trust Series 2018-4, Class D, 4.76%, 11/26/2027 ‡ (a) |
175,000 | 176,818 | ||||||
Sound Point CLO Ltd. (Cayman Islands) Series 2019-1A, Class AR, 1.33%, 1/20/2032 (a) (g) |
400,000 | 398,768 | ||||||
Stratus CLO Ltd. (Cayman Islands) Series 2021-1A, Class A, 0.89%, 12/29/2029 (a) (g) |
500,000 | 499,410 | ||||||
Symphony CLO Ltd. (Cayman Islands) Series 2016-18A, Class A1RR, 1.36%, 7/23/2033 (a) (g) |
250,000 | 249,307 | ||||||
Tricon Residential Trust Series 2021-SFR1, Class E1, 2.79%, 7/17/2038 ‡ (a) |
240,000 | 225,587 | ||||||
Upstart Pass-Through Trust |
||||||||
Series 2021-ST4, Class A, 2.00%, 7/20/2027 (a) |
166,920 | 163,673 | ||||||
Series 2021-ST5, Class A, 2.00%, 7/20/2027 (a) |
194,781 | 191,045 | ||||||
Series 2021-ST8, Class A, 1.75%, 10/20/2029 (a) |
275,957 | 270,506 | ||||||
Series 2021-ST9, Class A, 1.70%, 11/20/2029 (a) |
231,963 | 227,394 | ||||||
Series 2021-ST10, Class A, 2.25%, 1/20/2030 (a) |
431,553 | 424,502 | ||||||
Series 2022-ST1, Class A, 2.60%, 3/20/2030 (a) |
597,000 | 592,162 | ||||||
Upstart Securitization Trust |
||||||||
Series 2019-3, Class B, 3.83%, 1/21/2030 ‡ (a) |
145,188 | 145,894 | ||||||
Series 2020-1, Class B, 3.09%, 4/22/2030 ‡ (a) |
200,000 | 201,079 | ||||||
Series 2021-2, Class B, 1.75%, 6/20/2031 ‡ (a) |
275,000 | 268,807 | ||||||
Series 2021-3, Class A, 0.83%, 7/20/2031 (a) |
179,694 | 178,002 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Series 2021-4, Class B, 1.84%, 9/20/2031 ‡ (a) |
231,000 | 221,443 | ||||||
Series 2021-5, Class B, 2.49%, 11/20/2031 ‡ (a) |
225,000 | 217,083 | ||||||
US Auto Funding |
||||||||
Series 2021-1A, Class A, 0.79%, 7/15/2024 (a) |
64,412 | 64,090 | ||||||
Series 2021-1A, Class B, 1.49%, 3/17/2025 (a) |
142,000 | 139,351 | ||||||
VCAT LLC |
||||||||
Series 2021-NPL2, Class A1, 2.12%, 3/27/2051 (a) (f) |
182,666 | 179,185 | ||||||
Series 2021-NPL3, Class A1, 1.74%, 5/25/2051 (a) (f) |
192,777 | 188,431 | ||||||
Series 2021-NPL4, Class A1, 1.87%, 8/25/2051 ‡ (a) (f) |
277,057 | 269,497 | ||||||
Venture CLO Ltd. (Cayman Islands) Series 2018-32A, Class A2A, 1.31%, 7/18/2031 (a) (g) |
150,000 | 149,680 | ||||||
Veros Auto Receivables Trust Series 2021-1, Class A, 0.92%, 10/15/2026 (a) |
105,852 | 104,979 | ||||||
VOLT CIII LLC Series 2021-CF1, Class A1, 1.99%, 8/25/2051 ‡ (a) (f) |
347,535 | 341,755 | ||||||
VOLT XCIX LLC Series 2021-NPL8, Class A1, 2.12%, 4/25/2051 (a) (f) |
157,010 | 153,540 | ||||||
VOLT XCVI LLC Series 2021-NPL5, Class A1, 2.12%, 3/27/2051 (a) (f) |
130,949 | 128,683 | ||||||
VOLT XCVII LLC Series 2021-NPL6, Class A1, 2.24%, 4/25/2051 (a) (f) |
164,127 | 161,147 | ||||||
Westlake Automobile Receivables Trust |
||||||||
Series 2019-3A, Class E, 3.59%, 3/17/2025 (a) |
100,000 | 101,970 | ||||||
Series 2020-1A, Class D, 2.80%, 6/16/2025 (a) |
175,000 | 175,450 | ||||||
Series 2021-1A, Class C, 0.95%, 3/16/2026 (a) |
260,000 | 256,469 | ||||||
Series 2021-1A, Class D, 1.23%, 4/15/2026 (a) |
250,000 | 243,686 | ||||||
Series 2021-3A, Class D, 2.12%, 1/15/2027 (a) |
450,000 | 441,085 | ||||||
|
|
|||||||
Total
Asset-Backed Securities |
|
32,693,779 | ||||||
|
|
|||||||
Mortgage-Backed Securities — 9.9% |
||||||||
FHLMC Gold Pools, 30 Year |
||||||||
Pool # G08878, 4.50%, 5/1/2049 |
347,325 | 367,641 | ||||||
FHLMC UMBS, 10 Year |
||||||||
Pool # RD5034, 2.00%, 9/1/2030 |
587,291 | 583,717 | ||||||
FHLMC UMBS, 15 Year |
||||||||
Pool # ZS6689, 2.50%, 4/1/2028 |
248,771 | 252,463 |
SEE NOTES TO FINANCIAL STATEMENTS.
162 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities — continued |
| |||||||
FNMA UMBS, 15 Year |
||||||||
Pool # FM2072, 3.00%, 12/1/2031 |
314,041 | 323,068 | ||||||
FNMA UMBS, 20 Year |
||||||||
Pool # CA8310, 2.50%, 12/1/2040 (h) |
289,657 | 291,319 | ||||||
FNMA UMBS, 30 Year |
||||||||
Pool # BM1285, 4.50%, 5/1/2047 |
185,560 | 198,702 | ||||||
FNMA/FHLMC UMBS, Single Family, 15 Year |
||||||||
TBA, 2.50%, 4/25/2036 (h) |
3,430,000 | 3,462,680 | ||||||
TBA, 2.00%, 3/25/2037 (h) |
8,910,000 | 8,843,871 | ||||||
FNMA/FHLMC UMBS, Single Family, 30 Year |
||||||||
TBA, 3.00%, 3/25/2052 (h) |
440,000 | 444,400 | ||||||
GNMA II, 30 Year |
||||||||
Pool # MA7534, 2.50%, 8/20/2051 |
96,367 | 96,437 | ||||||
Pool # MA7535, 3.00%, 8/20/2051 |
432,779 | 440,861 | ||||||
Pool # MA7650, 3.00%, 10/20/2051 |
581,319 | 592,030 | ||||||
Pool # MA7705, 2.50%, 11/20/2051 |
454,467 | 454,796 | ||||||
Pool # MA7706, 3.00%, 11/20/2051 |
561,313 | 571,530 | ||||||
Pool # MA7829, 3.50%, 1/20/2052 |
349,217 | 360,949 | ||||||
GNMA II, Single Family, 30 Year |
||||||||
TBA, 3.00%, 3/15/2052 (h) |
120,000 | 121,992 | ||||||
TBA, 3.50%, 3/15/2052 (h) |
1,550,000 | 1,599,164 | ||||||
|
|
|||||||
Total
Mortgage-Backed Securities |
|
19,005,620 | ||||||
|
|
|||||||
Commercial Mortgage-Backed Securities — 6.3% |
| |||||||
AREIT Trust (Cayman Islands) |
||||||||
Series 2022-CRE6, Class C, 2.20%, 12/17/2024 ‡ (a) (g) |
450,000 | 450,000 | ||||||
Series 2021-CRE5, Class C, 2.44%, 8/17/2026 ‡ (a) (g) |
336,000 | 334,485 | ||||||
Beast Mortgage Trust Series 2021-1818, Class B, 1.70%, 3/15/2036 ‡ (a) (g) |
179,000 | 176,652 | ||||||
BX Commercial Mortgage Trust |
||||||||
Series 2021-VOLT, Class D, 1.84%, 9/15/2036 (a) (g) |
275,000 | 264,838 | ||||||
Series 2021-XL2, Class E, 2.04%, 10/15/2038 ‡ (a) (g) |
384,767 | 375,597 | ||||||
BX Trust |
||||||||
Series 2021-RISE, Class D, 1.94%, 11/15/2036 ‡ (a) (g) |
360,000 | 353,725 | ||||||
Series 2022-LBA6, Class D, 2.10%, 1/15/2039 (a) (g) |
525,000 | 515,946 | ||||||
Citigroup Commercial Mortgage Trust |
||||||||
Series 2021-PRM2, Class F, 3.94%, 10/15/2036 ‡ (a) (g) |
275,000 | 269,382 | ||||||
Series 2014-GC19, Class D, 5.09%, 3/10/2047 ‡ (a) (g) |
250,000 | 253,236 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Series 2014-GC23, Class C, 4.43%, 7/10/2047 ‡ (g) |
200,000 | 202,700 | ||||||
Series 2015-GC27, Class B, 3.77%, 2/10/2048 ‡ |
200,000 | 199,654 | ||||||
Series 2015-GC27, Class C, 4.42%, 2/10/2048 ‡ (g) |
440,000 | 436,657 | ||||||
Series 2015-GC29, Class C, 4.14%, 4/10/2048 ‡ (g) |
400,000 | 401,895 | ||||||
Series 2015-GC31, Class C, 4.04%, 6/10/2048 ‡ (g) |
250,000 | 247,590 | ||||||
Commercial Mortgage Trust |
||||||||
Series 2019-WCM, Class G, 2.89%, 10/15/2034 ‡ (a) (g) |
385,000 | 374,024 | ||||||
Series 2013-CR10, Class AM, 4.52%, 8/10/2046 (a) (g) |
200,000 | 205,692 | ||||||
Series 2014-CR20, Class C, 4.49%, 11/10/2047 ‡ (g) |
100,000 | 100,264 | ||||||
Series 2015-CR26, Class B, 4.48%, 10/10/2048 ‡ (g) |
200,000 | 206,727 | ||||||
Series 2015-PC1, Class B, 4.32%, 7/10/2050 ‡ (g) |
200,000 | 206,012 | ||||||
CSAIL Commercial Mortgage Trust Series 2015-C4, Class E, 3.56%, 11/15/2048 ‡ (g) |
325,000 | 303,740 | ||||||
FHLMC, Multi-Family Structured Pass-Through Certificates |
||||||||
Series K068, Class X1, IO, 0.43%, 8/25/2027 (g) |
3,641,399 | 78,177 | ||||||
Series K028, Class X3, IO, 1.66%, 6/25/2041 (g) |
4,629,000 | 82,393 | ||||||
Series K111, Class X3, IO, 3.18%, 4/25/2048 (g) |
405,000 | 89,172 | ||||||
Series K110, Class X3, IO, 3.40%, 6/25/2048 (g) |
380,000 | 87,928 | ||||||
Series K119, Class X3, IO, 2.73%, 9/25/2048 (g) |
460,000 | 89,835 | ||||||
Series K115, Class X3, IO, 2.96%, 9/25/2048 (g) |
430,000 | 87,999 | ||||||
Series K125, Class X3, IO, 2.65%, 2/25/2049 (g) |
460,000 | 89,207 | ||||||
FREMF Mortgage Trust |
||||||||
Series 2018-K732, Class C, 4.06%, 5/25/2025 (a) (g) |
200,000 | 203,930 | ||||||
Series 2016-K57, Class C, 3.92%, 8/25/2049 (a) (g) |
185,000 | 188,565 | ||||||
Series 2016-K58, Class C, 3.74%, 9/25/2049 (a) (g) |
110,000 | 112,063 | ||||||
Series 2017-K62, Class C, 3.88%, 1/25/2050 (a) (g) |
200,000 | 203,626 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 163 |
JPMorgan Short Duration Core Plus ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Commercial Mortgage-Backed Securities — continued |
| |||||||
GS Mortgage Securities Trust |
||||||||
Series 2016-GS2, Class B, 3.76%, 5/10/2049 ‡ (g) |
100,000 | 100,687 | ||||||
Series 2016-GS3, Class C, 3.99%, 10/10/2049 ‡ (g) |
165,000 | 163,671 | ||||||
Series 2017-GS5, Class D, 3.51%, 3/10/2050 ‡ (a) (g) |
250,000 | 229,047 | ||||||
Independence Plaza Trust |
||||||||
Series 2018-INDP, Class A, 3.76%, 7/10/2035 (a) |
175,000 | 176,935 | ||||||
Series 2018-INDP, Class C, 4.16%, 7/10/2035 (a) |
150,000 | 150,707 | ||||||
JPMBB Commercial Mortgage Securities Trust |
||||||||
Series 2015-C31, Class C, 4.62%, 8/15/2048 ‡ (g) |
150,000 | 151,643 | ||||||
Series 2016-C1, Class D1, 4.23%, 3/17/2049 ‡ (a) (g) |
400,000 | 386,820 | ||||||
JPMCC Commercial Mortgage Securities Trust Series 2017-JP5, Class D, 4.60%, 3/15/2050 ‡ (a) (g) |
275,000 | 255,726 | ||||||
JPMorgan Chase Commercial Mortgage Securities Trust Series 2013-C16, Class D, 5.01%, 12/15/2046 ‡ (a) (g) |
200,000 | 199,795 | ||||||
KKR Industrial Portfolio Trust Series 2021-KDIP, Class D, 1.44%, 12/15/2037 ‡ (a) (g) |
131,250 | 128,127 | ||||||
Life Mortgage Trust Series 2021-BMR, Class C, 1.29%, 3/15/2038 ‡ (a) (g) |
191,679 | 186,399 | ||||||
MHC Commercial Mortgage Trust Series 2021-MHC, Class D, 1.79%, 4/15/2038 ‡ (a) (g) |
250,000 | 245,619 | ||||||
Morgan Stanley Bank of America Merrill Lynch Trust |
||||||||
Series 2014-C14, Class D, 5.05%, 2/15/2047 ‡ (a) (g) |
175,023 | 175,423 | ||||||
Series 2015-C24, Class D, 3.26%, 5/15/2048 (a) |
220,000 | 202,615 | ||||||
Multi-Family Connecticut Avenue Securities Trust Series 2019-01, Class M7, 1.89%, 10/15/2049 ‡ (a) (g) |
68,364 | 66,879 | ||||||
PFP Ltd. (Cayman Islands) Series 2021-7, Class C, 1.78%, 4/14/2038 ‡ (a) (g) |
166,492 | 164,239 | ||||||
SG Commercial Mortgage Securities Trust Series 2016-C5, Class B, 3.93%, 10/10/2048 ‡ |
225,000 | 222,465 | ||||||
SMRT Series 2022-MINI, Class E, 2.80%, 1/15/2024 (a) (g) |
350,000 | 343,656 | ||||||
STWD Mortgage Trust (Cayman Islands) Series 2021-LIH, Class B, 1.85%, 11/15/2036 ‡ (a) (g) |
400,000 | 391,989 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Velocity Commercial Capital Loan Trust Series 2021-2, Class A, 1.52%, 8/25/2051 (a) (g) |
342,622 | 325,575 | ||||||
Wells Fargo Commercial Mortgage Trust Series 2015-LC22, Class D, 4.56%, 9/15/2058 ‡ (g) |
205,000 | 197,686 | ||||||
WFRBS Commercial Mortgage Trust |
||||||||
Series 2013-C11, Class C, 4.18%, 3/15/2045 ‡ (g) |
117,000 | 117,838 | ||||||
Series 2014-C25, Class B, 4.24%, 11/15/2047 ‡ (g) |
160,000 | 162,544 | ||||||
Series 2014-C22, Class C, 3.76%, 9/15/2057 ‡ (g) |
225,000 | 224,809 | ||||||
|
|
|||||||
Total
Commercial Mortgage-Backed Securities |
|
12,162,605 | ||||||
|
|
|||||||
Collateralized Mortgage Obligations — 2.8% |
||||||||
Connecticut Avenue Securities Trust |
||||||||
Series 2022-R01, Class 1M2, 1.95%, 12/25/2041 ‡ (a) (g) |
521,000 | 509,730 | ||||||
Series 2022-R02, Class 2M2, 3.05%, 1/25/2042 (a) (g) |
225,000 | 221,445 | ||||||
FHLMC STACR REMIC Trust |
||||||||
Series 2020-DNA1, Class M2, 1.89%, 1/25/2050 (a) (g) |
126,085 | 126,327 | ||||||
Series 2020-HQA3, Class B1, 5.94%, 7/25/2050 (a) (g) |
200,000 | 207,400 | ||||||
FHLMC Structured Agency Credit Risk Debt Notes Series 2021-DNA2, Class M2, 2.35%, 8/25/2033 (a) (g) |
100,000 | 101,132 | ||||||
FHLMC, REMIC |
||||||||
Series 3993, Class BC, 3.50%, 1/15/2027 |
425,000 | 439,573 | ||||||
Series 2673, Class PE, 5.50%, 9/15/2033 |
127,895 | 141,292 | ||||||
Series 4718, Class DA, 3.00%, 2/15/2047 |
341,323 | 346,757 | ||||||
Series 4937, Class MS, IF, IO, 5.86%, 12/25/2049 (g) |
345,545 | 56,818 | ||||||
Series 5021, Class MI, IO, 3.00%, 10/25/2050 |
530,430 | 86,170 | ||||||
FHLMC, STRIPS Series 311, Class S1, IF, IO, 5.76%, 8/15/2043 (g) |
476,829 | 83,426 | ||||||
FNMA, Connecticut Avenue Securities Series 2017-C07, Class 2M2, 2.69%, 5/25/2030 (g) |
117,974 | 119,297 | ||||||
FNMA, REMIC Series 2012-136, Class DL, 3.50%, 12/25/2042 |
270,000 | 276,917 | ||||||
GNMA Series 2021-9, Class MI, IO, 2.50%, 1/20/2051 |
274,042 | 34,361 |
SEE NOTES TO FINANCIAL STATEMENTS.
164 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Collateralized Mortgage Obligations — continued |
| |||||||
Legacy Mortgage Asset Trust Series 2021-GS3, Class A1, 1.75%, 7/25/2061 (a) (f) |
131,925 | 128,479 | ||||||
LHOME Mortgage Trust Series 2021-RTL1, Class A1, 2.09%, 9/25/2026 (a) (g) |
188,000 | 183,416 | ||||||
NYMT Loan Trust Series 2021-SP1, Class A1, 1.67%, 8/25/2061 (a) (f) |
306,322 | 297,256 | ||||||
PRPM LLC |
||||||||
Series 2021-2, Class A1, 2.12%, 3/25/2026 (a) (g) |
148,160 | 145,460 | ||||||
Series 2021-5, Class A1, 1.79%, 6/25/2026 (a) (f) |
217,533 | 210,060 | ||||||
Series 2021-6, Class A1, 1.79%, 7/25/2026 (a) (f) |
324,680 | 317,157 | ||||||
Series 2021-7, Class A1, 1.87%, 8/25/2026 (a) (f) |
277,176 | 269,628 | ||||||
Series 2021-11, Class A1, 2.49%, 11/25/2026 (a) (f) |
278,860 | 273,808 | ||||||
RCO VII Mortgage LLC Series 2021-1, Class A1, 1.87%, 5/26/2026 (a) (f) |
109,067 | 107,112 | ||||||
Verus Securitization Trust Series 2021-2, Class M1, 2.19%, 2/25/2066 ‡ (a) (g) |
144,000 | 139,525 | ||||||
VOLT CV LLC Series 2021-CF2, Class A1, 2.49%, 11/27/2051 (a) (f) |
469,262 | 463,222 | ||||||
ZH Trust Series 2021-1, Class A, 2.25%, 2/18/2027 (a) |
205,883 | 204,048 | ||||||
|
|
|||||||
Total
Collateralized Mortgage Obligations |
|
5,489,816 | ||||||
|
|
|||||||
Foreign Government Securities — 1.1% |
||||||||
Arab Republic of Egypt (Egypt) 3.88%, 2/16/2026 (a) |
200,000 | 173,250 | ||||||
Dominican Republic Government Bond (Dominican Republic) 6.00%, 7/19/2028 (d) |
300,000 | 309,525 | ||||||
Federal Republic of Nigeria (Nigeria) 6.50%, 11/28/2027 (d) |
200,000 | 190,000 | ||||||
Hashemite Kingdom of Jordan (Jordan) 4.95%, 7/7/2025 (a) |
200,000 | 200,000 | ||||||
Islamic Republic of Pakistan (Pakistan) 6.00%, 4/8/2026 (a) |
200,000 | 182,522 | ||||||
Republic of Costa Rica (Costa Rica) 4.38%, 4/30/2025 (d) |
200,000 | 202,787 | ||||||
Republic of Cote d’Ivoire (Ivory Coast) 5.75%, 12/31/2032 (d) (f) |
65,695 | 63,449 | ||||||
Republic of Ecuador (Ecuador) |
||||||||
5.00%, 7/31/2030 (a) (f) |
50,000 | 43,978 | ||||||
5.00%, 7/31/2030 (d) (f) |
25,000 | 21,989 | ||||||
Republic of El Salvador (El Salvador) 5.88%, 1/30/2025 (d) |
80,000 | 48,190 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Republic of Iraq (Iraq) 6.75%, 3/9/2023 (d) |
200,000 | 198,475 | ||||||
Republic of Kenya (Kenya) 7.00%, 5/22/2027 (d) |
200,000 | 191,000 | ||||||
Sultanate of Oman Government Bond (Oman) 4.75%, 6/15/2026 (d) |
200,000 | 199,500 | ||||||
Ukraine Government Bond (Ukraine) |
||||||||
7.75%, 9/1/2023 (d) |
100,000 | 40,000 | ||||||
7.75%, 9/1/2024 (d) |
100,000 | 32,000 | ||||||
|
|
|||||||
Total
Foreign Government Securities |
|
2,096,665 | ||||||
|
|
|||||||
Municipal Bonds — 0.1% (i) |
||||||||
California — 0.1% |
||||||||
California
Housing Finance Agency Series 2021-1, Class X, Rev., 0.80%,
11/20/2035 (g) |
2,171,037 | 138,575 | ||||||
|
|
|||||||
SHARES | ||||||||
Short-Term Investments — 12.8% |
||||||||
Investment Companies — 12.4% |
||||||||
JPMorgan
Prime Money Market Fund Class IM Shares, 0.07% (j) (k) |
23,975,012 | 23,982,204 | ||||||
|
|
|||||||
Investment of Cash Collateral from Securities Loaned — 0.1% |
| |||||||
JPMorgan
U.S. Government Money Market Fund Class IM Shares, 0.03%
(j) (k) |
110,760 | 110,760 | ||||||
|
|
|||||||
PRINCIPAL AMOUNT ($) |
||||||||
U.S. Treasury Obligations — 0.3% |
||||||||
U.S.
Treasury Bills 0.06%, 3/24/2022 (l) (m) |
568,000 | 567,975 | ||||||
|
|
|||||||
Total
Short-Term Investments |
24,660,939 | |||||||
|
|
|||||||
Total
Investments — 110.5% |
|
212,749,234 | ||||||
Liabilities
in Excess of |
|
(20,287,555) | ||||||
|
|
|||||||
NET ASSETS — 100.0% |
|
192,461,679 | ||||||
|
|
Percentages indicated are based on net assets.
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 165 |
JPMorgan Short Duration Core Plus ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
Abbreviations
ABS |
Asset-Backed Securities | |
CIFC |
Commercial Industrial Finance Corp. | |
CLO |
Collateralized Loan Obligations | |
FHLMC |
Federal Home Loan Mortgage Corp. | |
FNMA |
Federal National Mortgage Association | |
GNMA |
Government National Mortgage Association | |
ICE |
Intercontinental Exchange | |
IF |
Inverse Floaters represent securities that pay interest at a rate that increases (decreases) with a decline (incline) in a specified index or have an interest rate that adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the rate in effect as of February 28, 2022. The rate may be subject to a cap and floor. | |
IO |
Interest Only represents the right to receive the monthly interest payments on an underlying pool of mortgage loans. The principal amount shown represents the par value on the underlying pool. The yields on these securities are subject to accelerated principal paydowns as a result of prepayment or refinancing of the underlying pool of mortgage instruments. As a result, interest income may be reduced considerably. | |
LIBOR |
London Interbank Offered Rate | |
REIT |
Real Estate Investment Trust | |
REMIC |
Real Estate Mortgage Investment Conduit | |
Rev. |
Revenue | |
SOFR |
Secured Overnight Financing Rate | |
STRIPS |
Separate Trading of Registered Interest and Principal of Securities. The STRIPS Program lets investors hold and trade individual interest and principal components of eligible notes and bonds as separate securities. | |
TBA |
To Be Announced; Security is subject to delayed delivery. | |
UMBS |
Uniform Mortgage-Backed Securities | |
USD |
United States Dollar |
(a) |
Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. | |
(b) |
The security or a portion of this security is on loan at February 28, 2022. The total value of securities on loan at February 28, 2022 is $105,786. | |
(c) |
Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of February 28, 2022. | |
(d) |
Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. | |
(e) |
Amount rounds to less than 0.1% of net assets. | |
(f) |
Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future contingent upon a predetermined trigger. The interest rate shown is the current rate as of February 28, 2022. | |
(g) |
Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of February 28, 2022. | |
(h) |
All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment. | |
(i) |
The date shown represents the earliest of the prerefunded date, next put date or final maturity date. | |
(j) |
Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(k) |
The rate shown is the current yield as of February 28, 2022. | |
(l) |
All or a portion of this security is deposited with the broker as initial margin for futures contracts or centrally cleared swaps. | |
(m) |
The rate shown is the effective yield as of February 28, 2022. | |
‡ |
Value determined using significant unobservable inputs. |
Futures contracts outstanding as of February 28, 2022: | ||||||||||||||||||||
DESCRIPTION | NUMBER OF CONTRACTS |
EXPIRATION DATE |
TRADING CURRENCY |
NOTIONAL AMOUNT ($) |
VALUE
AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
|||||||||||||||
Long Contracts |
| |||||||||||||||||||
U.S. Treasury 2 Year Note |
130 | 06/2022 | USD | 27,963,203 | 59,418 | |||||||||||||||
|
|
|||||||||||||||||||
Short Contracts |
||||||||||||||||||||
U.S. Treasury 5 Year Note |
(112 | ) | 06/2022 | USD | (13,243,125 | ) | (53,232 | ) | ||||||||||||
U.S. Treasury 10 Year Note |
(83 | ) | 06/2022 | USD | (10,576,016 | ) | (66,963 | ) | ||||||||||||
U.S. Treasury 10 Year Ultra Note |
(24 | ) | 06/2022 | USD | (3,394,500 | ) | (32,863 | ) | ||||||||||||
|
|
|||||||||||||||||||
(153,058 | ) | |||||||||||||||||||
|
|
|||||||||||||||||||
(93,640 | ) | |||||||||||||||||||
|
|
Abbreviations | ||
USD |
UnitedStates Dollar |
SEE NOTES TO FINANCIAL STATEMENTS.
166 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
Centrally Cleared Credit default swap contracts outstanding — sell protection (a) as of February 28, 2022: | ||||||||||||||||||||||||||||||||
REFERENCE OBLIGATION/INDEX |
FINANCING RATE PAID BY THE FUND (%) |
PAYMENT FREQUENCY |
MATURITY DATE |
IMPLIED CREDIT SPREAD (%) (b) |
NOTIONAL AMOUNT (c) |
UPFRONT PAYMENTS (RECEIPTS) ($) (d) |
UNREALIZED APPRECIATION (DEPRECIATION) ($) |
VALUE ($) | ||||||||||||||||||||||||
CDX.NA.HY.37-V1 |
5.00 | Quarterly | 12/20/2026 | 3.64 | USD 1,600,000 | 141,488 | (35,517 | ) | 105,971 | |||||||||||||||||||||||
|
|
|
|
|
|
(a) |
The Fund, as a seller of credit protection, receives periodic payments and may also receive or pay an upfront premium from or to the protection buyer, and is obligated to make a contingent payment, upon occurrence of a credit event with respect to an underlying reference obligation, as defined under the terms of individual swap contracts. |
(b) |
Implied credit spreads are an indication of the seller’s performance risk, related to the likelihood of a credit event occurring that would require a seller to make payment to a buyer. Implied credit spreads are used to determine the value of swap contracts and reflect the cost of buying/selling protection, which may include upfront payments made to enter into the contract. Therefore, higher spreads would indicate a greater likelihood that a seller will be obligated to perform (i.e. make payment) under the swap contract. Increasing values, in absolute terms and relative to notional amounts, are also indicative of greater performance risk. Implied credit spreads for credit default swaps on credit indices are linked to the weighted average spread across the underlying reference obligations included in a particular index. |
(c) |
The notional amount is the maximum amount that a seller of credit protection would be obligated to pay and a buyer of credit protection would receive, upon occurrence of a credit event. |
(d) |
Upfront payments and receipts generally represent premiums paid or received at the initiation of the agreement to compensate the differences between the stated terms of the swap agreement and current market conditions (credit spreads, interest rates and other relevant factors). |
Abbreviations |
||
CDX |
Credit Default Swap Index | |
USD |
United States Dollar |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 167 |
JPMorgan U.S. Aggregate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
U.S. Treasury Obligations — 39.4% |
||||||||
U.S. Treasury Bonds |
|
|||||||
7.63%, 11/15/2022 |
3,527,000 | 3,692,190 | ||||||
7.50%, 11/15/2024 |
778,000 | 899,806 | ||||||
6.88%, 8/15/2025 |
638,000 | 748,603 | ||||||
6.63%, 2/15/2027 |
591,000 | 726,191 | ||||||
6.38%, 8/15/2027 |
4,000,000 | 4,952,187 | ||||||
6.13%, 11/15/2027 |
2,819,000 | 3,481,024 | ||||||
5.25%, 11/15/2028 |
2,000,000 | 2,433,125 | ||||||
6.13%, 8/15/2029 |
2,100,000 | 2,732,625 | ||||||
5.38%, 2/15/2031 |
3,169,000 | 4,100,884 | ||||||
4.50%, 2/15/2036 |
3,204,000 | 4,237,290 | ||||||
4.75%, 2/15/2037 |
206,000 | 281,222 | ||||||
5.00%, 5/15/2037 |
3,774,000 | 5,283,600 | ||||||
4.50%, 5/15/2038 |
542,000 | 728,397 | ||||||
3.50%, 2/15/2039 |
4,178,000 | 5,022,739 | ||||||
4.25%, 5/15/2039 |
10,000 | 13,141 | ||||||
4.50%, 8/15/2039 |
996,000 | 1,348,024 | ||||||
4.38%, 11/15/2039 |
356,000 | 474,871 | ||||||
4.63%, 2/15/2040 |
2,621,000 | 3,596,094 | ||||||
1.13%, 5/15/2040 |
8,270,000 | 6,878,314 | ||||||
4.38%, 5/15/2040 |
679,000 | 906,889 | ||||||
1.13%, 8/15/2040 |
276,000 | 228,692 | ||||||
1.38%, 11/15/2040 |
1,480,400 | 1,280,315 | ||||||
1.88%, 2/15/2041 |
6,916,000 | 6,504,282 | ||||||
2.25%, 5/15/2041 |
955,000 | 952,613 | ||||||
1.75%, 8/15/2041 |
240,000 | 220,237 | ||||||
2.00%, 11/15/2041 |
1,767,000 | 1,692,731 | ||||||
3.13%, 2/15/2042 |
1,963,000 | 2,239,047 | ||||||
2.50%, 2/15/2045 |
3,384,000 | 3,491,865 | ||||||
3.00%, 5/15/2045 |
38,000 | 42,697 | ||||||
2.50%, 5/15/2046 |
10,713,000 | 11,091,303 | ||||||
2.25%, 8/15/2046 |
1,749,000 | 1,729,597 | ||||||
3.00%, 2/15/2047 |
164,000 | 186,217 | ||||||
3.00%, 2/15/2049 |
1,782,000 | 2,068,234 | ||||||
2.25%, 8/15/2049 |
2,615,000 | 2,635,021 | ||||||
2.38%, 11/15/2049 |
1,810,000 | 1,875,895 | ||||||
2.00%, 2/15/2050 |
2,457,000 | 2,351,810 | ||||||
1.25%, 5/15/2050 |
21,176,400 | 16,901,414 | ||||||
1.38%, 8/15/2050 |
3,726,000 | 3,068,128 | ||||||
1.63%, 11/15/2050 |
2,706,000 | 2,370,710 | ||||||
2.00%, 8/15/2051 |
83,000 | 79,680 | ||||||
1.88%, 11/15/2051 |
384,000 | 358,440 | ||||||
U.S. Treasury Notes |
|
|||||||
0.13%, 7/31/2022 |
879,000 | 877,249 | ||||||
1.50%, 9/15/2022 |
804,000 | 807,361 | ||||||
0.13%, 9/30/2022 |
3,972,000 | 3,957,571 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
1.38%, 10/15/2022 |
50,000 | 50,184 | ||||||
0.13%, 12/31/2022 |
1,025,000 | 1,017,633 | ||||||
0.13%, 1/31/2023 |
551,000 | 546,372 | ||||||
0.50%, 3/15/2023 |
110,000 | 109,321 | ||||||
0.25%, 4/15/2023 |
2,229,000 | 2,206,275 | ||||||
0.13%, 4/30/2023 |
4,118,000 | 4,067,168 | ||||||
0.25%, 6/15/2023 |
5,597,000 | 5,526,819 | ||||||
1.38%, 8/31/2023 |
360,000 | 360,197 | ||||||
1.38%, 9/30/2023 |
15,802,000 | 15,807,555 | ||||||
0.38%, 10/31/2023 |
408,000 | 401,099 | ||||||
0.25%, 11/15/2023 |
27,506,000 | 26,975,220 | ||||||
2.88%, 11/30/2023 |
837,000 | 858,121 | ||||||
2.25%, 1/31/2024 |
10,000 | 10,150 | ||||||
2.50%, 1/31/2024 |
2,434,000 | 2,481,729 | ||||||
0.13%, 2/15/2024 |
11,119,000 | 10,832,338 | ||||||
1.50%, 2/29/2024 |
3,084,000 | 3,086,891 | ||||||
2.13%, 2/29/2024 |
10,000 | 10,128 | ||||||
2.38%, 2/29/2024 |
3,723,000 | 3,789,025 | ||||||
0.25%, 3/15/2024 |
2,552,000 | 2,488,200 | ||||||
2.13%, 3/31/2024 |
40,000 | 40,516 | ||||||
2.50%, 5/15/2024 |
100,000 | 102,086 | ||||||
2.00%, 5/31/2024 |
3,850,000 | 3,889,703 | ||||||
1.75%, 6/30/2024 |
1,967,000 | 1,976,374 | ||||||
1.75%, 7/31/2024 |
10,000 | 10,045 | ||||||
2.38%, 8/15/2024 |
2,800,000 | 2,853,156 | ||||||
1.25%, 8/31/2024 |
3,403,000 | 3,375,085 | ||||||
1.88%, 8/31/2024 |
259,000 | 260,882 | ||||||
1.50%, 9/30/2024 |
100,000 | 99,734 | ||||||
1.50%, 10/31/2024 |
993,000 | 990,130 | ||||||
1.50%, 11/30/2024 |
8,182,000 | 8,156,431 | ||||||
1.38%, 1/31/2025 |
723,000 | 717,691 | ||||||
2.50%, 1/31/2025 |
450,000 | 461,039 | ||||||
2.00%, 2/15/2025 |
530,000 | 535,424 | ||||||
1.13%, 2/28/2025 |
1,153,000 | 1,135,615 | ||||||
0.50%, 3/31/2025 |
9,457,000 | 9,129,699 | ||||||
0.38%, 4/30/2025 |
497,000 | 477,198 | ||||||
0.25%, 5/31/2025 |
103,300 | 98,635 | ||||||
2.88%, 5/31/2025 |
6,580,000 | 6,825,208 | ||||||
0.25%, 6/30/2025 |
2,174,000 | 2,072,433 | ||||||
0.25%, 7/31/2025 |
1,665,000 | 1,585,262 | ||||||
0.25%, 8/31/2025 |
3,416,000 | 3,246,801 | ||||||
0.25%, 9/30/2025 |
6,725,000 | 6,384,022 | ||||||
0.25%, 10/31/2025 |
14,126,000 | 13,392,110 | ||||||
0.38%, 11/30/2025 |
1,690,000 | 1,607,481 | ||||||
0.38%, 12/31/2025 |
1,308,000 | 1,243,009 | ||||||
2.63%, 12/31/2025 |
3,319,000 | 3,430,238 |
SEE NOTES TO FINANCIAL STATEMENTS.
168 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
U.S. Treasury Obligations — continued |
||||||||
0.38%, 1/31/2026 |
9,241,000 | 8,765,955 | ||||||
1.63%, 2/15/2026 |
516,000 | 513,743 | ||||||
0.50%, 2/28/2026 |
23,440,000 | 22,322,938 | ||||||
2.50%, 2/28/2026 |
136,000 | 139,974 | ||||||
2.13%, 5/31/2026 |
200,000 | 203,047 | ||||||
0.63%, 7/31/2026 |
3,261,000 | 3,105,848 | ||||||
1.50%, 8/15/2026 |
507,000 | 501,653 | ||||||
1.38%, 8/31/2026 |
398,000 | 391,564 | ||||||
1.63%, 10/31/2026 |
3,033,000 | 3,016,413 | ||||||
1.63%, 11/30/2026 |
133,000 | 132,262 | ||||||
1.75%, 12/31/2026 |
2,528,000 | 2,528,395 | ||||||
2.25%, 2/15/2027 |
1,300,000 | 1,330,773 | ||||||
1.13%, 2/28/2027 |
2,826,000 | 2,741,882 | ||||||
0.63%, 3/31/2027 |
4,006,000 | 3,787,548 | ||||||
0.50%, 4/30/2027 |
800 | 751 | ||||||
0.38%, 7/31/2027 |
9,452,000 | 8,774,853 | ||||||
2.25%, 8/15/2027 |
2,000,000 | 2,049,844 | ||||||
0.50%, 8/31/2027 |
42,000 | 39,201 | ||||||
0.50%, 10/31/2027 |
4,776,000 | 4,445,784 | ||||||
2.25%, 11/15/2027 |
400,000 | 409,781 | ||||||
0.63%, 11/30/2027 |
3,717,000 | 3,480,912 | ||||||
0.63%, 12/31/2027 |
1,227,000 | 1,147,820 | ||||||
0.75%, 1/31/2028 |
8,768,000 | 8,253,565 | ||||||
1.13%, 2/29/2028 |
2,001,000 | 1,925,806 | ||||||
1.25%, 4/30/2028 |
602,000 | 582,717 | ||||||
2.88%, 5/15/2028 |
400,000 | 424,844 | ||||||
1.00%, 7/31/2028 |
4,293,000 | 4,080,027 | ||||||
2.88%, 8/15/2028 |
800,000 | 851,375 | ||||||
1.13%, 8/31/2028 |
479,000 | 458,568 | ||||||
1.38%, 10/31/2028 |
1,078,000 | 1,047,513 | ||||||
1.50%, 11/30/2028 |
1,749,000 | 1,712,927 | ||||||
1.38%, 12/31/2028 |
3,564,000 | 3,462,092 | ||||||
1.63%, 8/15/2029 |
5,982,000 | 5,910,029 | ||||||
1.75%, 11/15/2029 |
13,045,000 | 13,010,349 | ||||||
1.50%, 2/15/2030 |
8,746,000 | 8,547,848 | ||||||
0.63%, 5/15/2030 |
9,368,000 | 8,520,489 | ||||||
0.63%, 8/15/2030 |
130,000 | 117,873 | ||||||
1.38%, 11/15/2031 |
369,000 | 353,894 | ||||||
1.88%, 2/15/2032 |
786,000 | 789,316 | ||||||
|
|
|||||||
Total
U.S. Treasury Obligations |
404,148,930 | |||||||
|
|
|||||||
Mortgage-Backed Securities — 27.7% |
| |||||||
FHLMC Gold Pools, 15 Year |
||||||||
Pool # G14541, 2.50%, 8/1/2022 |
1,641 | 1,663 | ||||||
Pool # J10548, 4.00%, 8/1/2024 |
18,310 | 18,988 | ||||||
Pool # J15449, 4.00%, 5/1/2026 |
85,233 | 88,631 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Pool # G14781, 3.50%, 3/1/2027 |
48,157 | 49,782 | ||||||
Pool # G15201, 4.00%, 5/1/2027 |
16,513 | 17,125 | ||||||
Pool # J20129, 2.50%, 8/1/2027 |
79,927 | 81,116 | ||||||
Pool # G15438, 4.00%, 9/1/2027 |
14,027 | 14,551 | ||||||
Pool # G15602, 2.50%, 11/1/2027 |
60,049 | 60,851 | ||||||
Pool # E09028, 2.00%, 3/1/2028 |
93,295 | 93,103 | ||||||
Pool # J23362, 2.00%, 4/1/2028 |
89,889 | 89,704 | ||||||
Pool # G18466, 2.00%, 5/1/2028 |
13,112 | 13,085 | ||||||
Pool # G18465, 2.50%, 5/1/2028 |
25,131 | 25,508 | ||||||
Pool # G15601, 2.50%, 1/1/2029 |
57,496 | 58,264 | ||||||
Pool # G14957, 3.50%, 1/1/2029 |
117,447 | 122,134 | ||||||
Pool # G16570, 4.00%, 7/1/2029 |
12,251 | 12,705 | ||||||
Pool # G18540, 2.50%, 2/1/2030 |
32,282 | 32,767 | ||||||
Pool # G18556, 2.50%, 6/1/2030 |
41,214 | 41,835 | ||||||
Pool # V60840, 3.00%, 6/1/2030 |
11,069 | 11,435 | ||||||
Pool # G16622, 3.00%, 11/1/2030 |
41,045 | 42,391 | ||||||
Pool # G16019, 3.50%, 12/1/2030 |
19,264 | 19,922 | ||||||
Pool # G16044, 2.50%, 1/1/2032 |
112,068 | 113,738 | ||||||
Pool # J36524, 3.00%, 3/1/2032 |
121,988 | 125,978 | ||||||
Pool # J36660, 3.00%, 3/1/2032 |
57,776 | 59,333 | ||||||
Pool # J38270, 2.50%, 1/1/2033 |
325,425 | 330,328 | ||||||
Pool # G16568, 2.50%, 4/1/2033 |
141,183 | 143,069 | ||||||
FHLMC Gold Pools, 30 Year |
||||||||
Pool # V81680, 4.50%, 12/1/2034 |
84,159 | 91,428 | ||||||
Pool # A30892, 5.00%, 1/1/2035 |
59,939 | 65,668 | ||||||
Pool # A39210, 5.50%, 10/1/2035 |
28,181 | 31,264 | ||||||
Pool # V83754, 5.50%, 1/1/2036 |
40,491 | 45,221 | ||||||
Pool # A82255, 5.50%, 9/1/2036 |
114,284 | 124,085 | ||||||
Pool # G03381, 5.50%, 9/1/2037 |
24,581 | 27,166 | ||||||
Pool # A89760, 4.50%, 12/1/2039 |
23,248 | 25,265 | ||||||
Pool # A92197, 5.00%, 5/1/2040 |
68,651 | 76,283 | ||||||
Pool # G06856, 6.00%, 5/1/2040 |
4,759 | 5,439 | ||||||
Pool # A93359, 4.00%, 8/1/2040 |
3,729 | 3,900 | ||||||
Pool # G06222, 4.00%, 1/1/2041 |
221,001 | 237,058 | ||||||
Pool # G07794, 5.50%, 6/1/2041 |
11,885 | 13,288 | ||||||
Pool # Q03516, 4.50%, 9/1/2041 |
26,075 | 28,210 | ||||||
Pool # Q04088, 3.50%, 10/1/2041 |
23,630 | 24,825 | ||||||
Pool # Q04688, 4.00%, 11/1/2041 |
3,713 | 3,995 | ||||||
Pool # G08477, 3.50%, 2/1/2042 |
8,514 | 8,962 | ||||||
Pool # Q06771, 3.00%, 3/1/2042 |
39,930 | 41,152 | ||||||
Pool # C03858, 3.50%, 4/1/2042 |
110,927 | 116,745 | ||||||
Pool # Q08646, 3.50%, 6/1/2042 |
27,749 | 29,200 | ||||||
Pool # G60737, 4.50%, 8/1/2042 |
114,523 | 124,931 | ||||||
Pool # Q11220, 3.50%, 9/1/2042 |
93,541 | 98,464 | ||||||
Pool # Q13477, 3.00%, 12/1/2042 |
126,951 | 130,854 | ||||||
Pool # Q14321, 3.00%, 12/1/2042 |
31,761 | 32,747 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 169 |
JPMorgan U.S. Aggregate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities — continued |
| |||||||
Pool # C04420, 3.00%, 1/1/2043 |
193,682 | 199,801 | ||||||
Pool # Q14694, 3.00%, 1/1/2043 |
1,462,712 | 1,508,182 | ||||||
Pool # G61723, 3.50%, 1/1/2043 |
78,332 | 82,544 | ||||||
Pool # C09031, 2.50%, 2/1/2043 |
101,584 | 101,416 | ||||||
Pool # V80026, 3.00%, 4/1/2043 |
55,987 | 57,716 | ||||||
Pool # Q17374, 4.00%, 4/1/2043 |
102,042 | 109,704 | ||||||
Pool # G62033, 4.00%, 11/1/2043 |
151,087 | 161,647 | ||||||
Pool # Z40090, 4.50%, 9/1/2044 |
35,369 | 38,400 | ||||||
Pool # G61769, 4.50%, 12/1/2044 |
77,585 | 84,281 | ||||||
Pool # G61617, 4.50%, 1/1/2045 |
25,836 | 28,355 | ||||||
Pool # G08651, 4.00%, 6/1/2045 |
113,402 | 121,242 | ||||||
Pool # G08653, 3.00%, 7/1/2045 |
52,246 | 53,678 | ||||||
Pool # Q35223, 4.00%, 8/1/2045 |
12,367 | 13,035 | ||||||
Pool # G60238, 3.50%, 10/1/2045 |
772,191 | 810,842 | ||||||
Pool # G60506, 3.50%, 4/1/2046 |
43,590 | 45,743 | ||||||
Pool # G08710, 3.00%, 6/1/2046 |
36,351 | 37,335 | ||||||
Pool # Q41024, 3.00%, 6/1/2046 |
586,377 | 601,949 | ||||||
Pool # G08724, 2.50%, 9/1/2046 |
13,003 | 12,934 | ||||||
Pool # G61070, 3.00%, 9/1/2046 |
492,828 | 507,826 | ||||||
Pool # G61730, 3.00%, 9/1/2046 |
141,369 | 145,685 | ||||||
Pool # G61235, 4.50%, 9/1/2046 |
27,460 | 29,717 | ||||||
Pool # G08736, 2.50%, 12/1/2046 |
13,630 | 13,557 | ||||||
Pool # Q45872, 3.00%, 1/1/2047 |
362,535 | 370,984 | ||||||
Pool # G08747, 3.00%, 2/1/2047 |
182,105 | 186,492 | ||||||
Pool # G61623, 3.00%, 4/1/2047 |
26,757 | 27,455 | ||||||
Pool # G60985, 3.00%, 5/1/2047 |
101,245 | 103,855 | ||||||
Pool # G60996, 3.50%, 5/1/2047 |
8,561 | 8,970 | ||||||
Pool # Q47884, 4.00%, 5/1/2047 |
26,598 | 28,207 | ||||||
Pool # V83233, 4.00%, 6/1/2047 |
113,648 | 120,462 | ||||||
Pool # G08775, 4.00%, 8/1/2047 |
38,436 | 40,355 | ||||||
Pool # Q50152, 4.00%, 8/1/2047 |
92,405 | 97,649 | ||||||
Pool # Q51268, 3.50%, 10/1/2047 |
53,716 | 55,782 | ||||||
Pool # G08787, 3.00%, 11/1/2047 |
323,608 | 329,314 | ||||||
Pool # G61681, 3.00%, 12/1/2047 |
7,445 | 7,594 | ||||||
Pool # Q52866, 3.00%, 12/1/2047 |
26,882 | 27,534 | ||||||
Pool # G08793, 4.00%, 12/1/2047 |
34,706 | 36,523 | ||||||
Pool # Q53751, 3.50%, 1/1/2048 |
97,152 | 100,693 | ||||||
Pool # G08812, 3.00%, 4/1/2048 |
11,669 | 11,892 | ||||||
Pool # G61866, 4.00%, 6/1/2048 |
27,023 | 28,885 | ||||||
Pool # G61607, 4.50%, 9/1/2048 |
124,661 | 134,461 | ||||||
Pool # G08842, 4.00%, 10/1/2048 |
14,986 | 15,664 | ||||||
Pool # G61885, 4.50%, 11/1/2048 |
31,886 | 33,855 | ||||||
Pool # G08862, 4.00%, 2/1/2049 |
24,622 | 25,759 | ||||||
Pool # Q61487, 4.00%, 2/1/2049 |
39,419 | 41,583 | ||||||
Pool # G08876, 3.50%, 5/1/2049 |
45,968 | 47,515 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
FHLMC UMBS, 15 Year |
||||||||
Pool # ZS5890, 4.00%, 7/1/2024 |
116,628 | 120,989 | ||||||
Pool # ZK2080, 4.00%, 1/1/2025 |
39,687 | 41,140 | ||||||
Pool # ZA2587, 4.00%, 9/1/2025 |
10,586 | 10,977 | ||||||
Pool # ZK2723, 3.50%, 11/1/2025 |
19,285 | 19,919 | ||||||
Pool # ZK3540, 3.00%, 9/1/2026 |
81,902 | 84,124 | ||||||
Pool # ZS8460, 3.00%, 4/1/2027 |
21,567 | 22,204 | ||||||
Pool # SB0031, 3.50%, 10/1/2027 |
35,915 | 37,086 | ||||||
Pool # ZS6674, 2.50%, 4/1/2028 |
433,485 | 439,878 | ||||||
Pool # ZS7140, 2.00%, 1/1/2029 |
235,782 | 235,176 | ||||||
Pool # ZS7751, 3.00%, 1/1/2029 |
133,630 | 137,835 | ||||||
Pool # SB0071, 2.50%, 5/1/2030 |
33,657 | 34,136 | ||||||
Pool # ZS7331, 3.00%, 12/1/2030 |
31,138 | 32,147 | ||||||
Pool # ZS7888, 2.50%, 10/1/2032 |
342,742 | 348,113 | ||||||
Pool # ZK9070, 3.00%, 11/1/2032 |
753,503 | 779,578 | ||||||
Pool # ZS7938, 2.50%, 1/1/2033 |
83,703 | 85,092 | ||||||
Pool # SB0256, 4.00%, 11/1/2033 |
102,405 | 106,148 | ||||||
Pool # SB0077, 3.50%, 10/1/2034 |
60,403 | 62,677 | ||||||
Pool # QN1148, 2.50%, 12/1/2034 |
80,864 | 82,192 | ||||||
Pool # SB8031, 2.50%, 2/1/2035 |
167,767 | 170,003 | ||||||
Pool # SB0302, 3.00%, 4/1/2035 |
616,983 | 642,158 | ||||||
Pool # QN2407, 2.00%, 6/1/2035 |
141,931 | 141,068 | ||||||
Pool # SB8500, 2.50%, 7/1/2035 |
432,658 | 439,107 | ||||||
Pool # SB0424, 2.00%, 10/1/2035 |
991,972 | 985,935 | ||||||
Pool # RC1712, 1.50%, 12/1/2035 |
1,293,144 | 1,262,016 | ||||||
Pool # SB8090, 2.50%, 2/1/2036 |
1,178,249 | 1,193,994 | ||||||
Pool # QN6095, 2.00%, 5/1/2036 |
175,703 | 174,634 | ||||||
Pool # QN6718, 2.00%, 6/1/2036 |
333,316 | 331,287 | ||||||
Pool # QN7057, 2.00%, 7/1/2036 |
191,084 | 189,921 | ||||||
Pool # SB8111, 2.00%, 7/1/2036 |
182,666 | 181,554 | ||||||
Pool # QN8347, 1.50%, 10/1/2036 |
393,360 | 383,272 | ||||||
Pool # SB8127, 1.50%, 11/1/2036 |
388,147 | 378,197 | ||||||
Pool # SB0570, 2.00%, 11/1/2036 |
386,226 | 383,876 | ||||||
Pool # SB8131, 1.50%, 12/1/2036 |
784,421 | 764,307 | ||||||
Pool # SB8136, 1.50%, 1/1/2037 |
493,533 | 480,725 | ||||||
Pool # SB8140, 1.50%, 2/1/2037 |
595,979 | 580,515 | ||||||
FHLMC UMBS, 20 Year |
||||||||
Pool # ZA2277, 3.00%, 9/1/2032 |
85,910 | 88,665 | ||||||
Pool # ZJ9491, 3.50%, 12/1/2032 |
20,986 | 21,885 | ||||||
Pool # ZS9164, 3.00%, 9/1/2033 |
513,041 | 529,483 | ||||||
Pool # SC0107, 3.50%, 11/1/2034 |
1,213,469 | 1,283,534 | ||||||
Pool # ZA2463, 3.50%, 6/1/2037 |
35,997 | 37,449 | ||||||
Pool # RB5026, 2.50%, 11/1/2039 |
42,385 | 42,512 | ||||||
Pool # QK0157, 2.50%, 1/1/2040 |
16,698 | 16,503 | ||||||
Pool # RB5032, 2.50%, 2/1/2040 |
34,514 | 34,637 | ||||||
Pool # RB5037, 2.50%, 3/1/2040 |
112,581 | 112,917 |
SEE NOTES TO FINANCIAL STATEMENTS.
170 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities — continued |
| |||||||
Pool # RB5043, 2.50%, 4/1/2040 |
46,941 | 47,168 | ||||||
Pool # RB5048, 2.50%, 5/1/2040 |
98,466 | 98,942 | ||||||
Pool # SC0131, 1.50%, 3/1/2041 |
233,736 | 220,704 | ||||||
Pool # SC0134, 1.50%, 3/1/2041 |
230,263 | 217,424 | ||||||
Pool # RB5142, 2.50%, 1/1/2042 |
495,501 | 498,348 | ||||||
Pool # RB5145, 2.00%, 2/1/2042 |
992,624 | 966,918 | ||||||
FHLMC UMBS, 30 Year |
||||||||
Pool # ZI3765, 5.50%, 11/1/2035 |
41,122 | 45,823 | ||||||
Pool # ZS2546, 5.00%, 2/1/2039 |
21,271 | 23,688 | ||||||
Pool # ZJ0449, 4.00%, 9/1/2040 |
25,086 | 26,890 | ||||||
Pool # ZL3548, 3.50%, 8/1/2042 |
91,923 | 96,195 | ||||||
Pool # ZA4209, 3.00%, 4/1/2043 |
858,084 | 880,395 | ||||||
Pool # ZS3712, 3.50%, 4/1/2043 |
179,661 | 189,234 | ||||||
Pool # ZS4077, 3.50%, 1/1/2044 |
24,561 | 25,760 | ||||||
Pool # ZS4592, 4.00%, 11/1/2044 |
167,445 | 178,987 | ||||||
Pool # ZS4609, 3.00%, 4/1/2045 |
43,289 | 44,408 | ||||||
Pool # ZS9618, 3.50%, 3/1/2046 |
533,392 | 559,632 | ||||||
Pool # SD0146, 3.00%, 11/1/2046 |
144,706 | 148,380 | ||||||
Pool # ZM2209, 3.50%, 12/1/2046 |
331,848 | 346,557 | ||||||
Pool # SD0388, 3.50%, 6/1/2047 |
531,647 | 559,132 | ||||||
Pool # ZS4729, 3.00%, 8/1/2047 |
334,275 | 342,822 | ||||||
Pool # ZM4635, 4.00%, 11/1/2047 |
478,178 | 505,104 | ||||||
Pool # SD0225, 3.00%, 12/1/2047 |
665,131 | 681,795 | ||||||
Pool # ZT0534, 3.50%, 12/1/2047 |
347,184 | 362,840 | ||||||
Pool # ZS4750, 3.00%, 1/1/2048 |
27,055 | 27,570 | ||||||
Pool # SD0343, 3.00%, 3/1/2048 |
905,947 | 931,702 | ||||||
Pool # SI2002, 4.00%, 3/1/2048 |
603,576 | 633,824 | ||||||
Pool # ZM6887, 3.00%, 5/1/2048 |
52,441 | 53,134 | ||||||
Pool # ZM7669, 3.50%, 8/1/2048 |
84,063 | 87,541 | ||||||
Pool # ZN4476, 3.50%, 12/1/2048 |
317,219 | 328,616 | ||||||
Pool # ZA6286, 4.00%, 2/1/2049 |
150,674 | 158,238 | ||||||
Pool # ZT1776, 3.50%, 3/1/2049 |
28,162 | 29,091 | ||||||
Pool # ZN5087, 4.00%, 4/1/2049 |
138,022 | 145,999 | ||||||
Pool # ZT1864, 4.00%, 4/1/2049 |
3,960 | 4,139 | ||||||
Pool # ZT1951, 3.50%, 5/1/2049 |
9,166 | 9,469 | ||||||
Pool # ZT1952, 4.00%, 5/1/2049 |
62,910 | 65,742 | ||||||
Pool # QA4907, 3.00%, 6/1/2049 |
167,971 | 172,261 | ||||||
Pool # ZT2086, 3.50%, 6/1/2049 |
51,964 | 53,681 | ||||||
Pool # SD7502, 3.50%, 7/1/2049 |
147,291 | 152,854 | ||||||
Pool # SD8001, 3.50%, 7/1/2049 |
17,997 | 18,592 | ||||||
Pool # SD7501, 4.00%, 7/1/2049 |
91,487 | 97,121 | ||||||
Pool # QA1997, 3.00%, 8/1/2049 |
21,189 | 21,495 | ||||||
Pool # RA1202, 3.50%, 8/1/2049 |
483,759 | 502,004 | ||||||
Pool # SD8005, 3.50%, 8/1/2049 |
64,021 | 66,137 | ||||||
Pool # SD8006, 4.00%, 8/1/2049 |
42,155 | 44,052 | ||||||
Pool # SD8023, 2.50%, 11/1/2049 |
9,525 | 9,462 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Pool # QA4509, 3.00%, 11/1/2049 |
494,804 | 502,118 | ||||||
Pool # SD8025, 3.50%, 11/1/2049 |
188,594 | 194,832 | ||||||
Pool # SD8029, 2.50%, 12/1/2049 |
178,541 | 177,362 | ||||||
Pool # RA1878, 3.50%, 12/1/2049 |
149,328 | 154,257 | ||||||
Pool # SD8037, 2.50%, 1/1/2050 |
471,449 | 468,335 | ||||||
Pool # QA7416, 3.00%, 2/1/2050 |
406,985 | 412,927 | ||||||
Pool # QA7554, 3.00%, 2/1/2050 |
1,888,954 | 1,928,150 | ||||||
Pool # RA2116, 3.00%, 2/1/2050 |
671,778 | 682,925 | ||||||
Pool # SD0303, 2.50%, 4/1/2050 |
815,206 | 809,956 | ||||||
Pool # QA9653, 3.50%, 5/1/2050 |
48,376 | 49,967 | ||||||
Pool # SD8080, 2.00%, 6/1/2050 |
68,480 | 65,903 | ||||||
Pool # QB1691, 2.00%, 7/1/2050 |
922,152 | 887,357 | ||||||
Pool # SD8089, 2.50%, 7/1/2050 |
1,886,179 | 1,869,780 | ||||||
Pool # SD8083, 2.50%, 8/1/2050 |
1,389,378 | 1,376,670 | ||||||
Pool # RA3727, 2.00%, 10/1/2050 |
2,268,935 | 2,183,361 | ||||||
Pool # SD8104, 1.50%, 11/1/2050 |
1,340,560 | 1,245,018 | ||||||
Pool # RA4197, 2.50%, 12/1/2050 |
609,479 | 602,546 | ||||||
Pool # RA4349, 2.50%, 1/1/2051 |
401,411 | 396,840 | ||||||
Pool # QB8583, 1.50%, 2/1/2051 |
1,311,273 | 1,217,722 | ||||||
Pool # RA4530, 2.50%, 2/1/2051 |
566,883 | 560,668 | ||||||
Pool # SD8129, 2.50%, 2/1/2051 |
768,306 | 761,270 | ||||||
Pool # SD8140, 2.00%, 4/1/2051 |
439,898 | 423,019 | ||||||
Pool # SD8142, 3.00%, 4/1/2051 |
1,259,016 | 1,273,078 | ||||||
Pool # SD8145, 1.50%, 5/1/2051 |
1,134,385 | 1,053,451 | ||||||
Pool # QC2565, 2.00%, 6/1/2051 |
1,893,235 | 1,819,771 | ||||||
Pool # QC3259, 2.00%, 6/1/2051 |
1,723,434 | 1,664,839 | ||||||
Pool # SD8158, 3.50%, 6/1/2051 |
373,801 | 385,187 | ||||||
Pool # SD8155, 2.00%, 7/1/2051 |
1,428,919 | 1,373,342 | ||||||
Pool # SD8156, 2.50%, 7/1/2051 |
694,031 | 686,178 | ||||||
Pool # QC5125, 2.00%, 8/1/2051 |
287,068 | 275,855 | ||||||
Pool # QC6057, 2.50%, 8/1/2051 |
287,745 | 284,464 | ||||||
Pool # SD8163, 3.50%, 8/1/2051 |
161,493 | 166,408 | ||||||
Pool # RA5832, 2.50%, 9/1/2051 |
812,560 | 803,387 | ||||||
Pool # SD8168, 3.00%, 9/1/2051 |
280,134 | 283,503 | ||||||
Pool # SD8172, 2.00%, 10/1/2051 |
879,843 | 845,248 | ||||||
Pool # SD8173, 2.50%, 10/1/2051 |
484,693 | 478,939 | ||||||
FNMA UMBS, 15 Year |
||||||||
Pool # AC8711, 4.00%, 12/1/2024 |
220,101 | 228,233 | ||||||
Pool # AC7007, 4.50%, 1/1/2025 |
16,328 | 16,914 | ||||||
Pool # AL9580, 4.00%, 3/1/2025 |
15,169 | 15,723 | ||||||
Pool # 932724, 4.00%, 4/1/2025 |
7,614 | 7,895 | ||||||
Pool # AE0971, 4.00%, 5/1/2025 |
29,706 | 30,791 | ||||||
Pool # AE0939, 3.50%, 2/1/2026 |
44,542 | 46,003 | ||||||
Pool # FM2968, 4.00%, 5/1/2026 |
13,128 | 13,631 | ||||||
Pool # AJ6632, 3.00%, 11/1/2026 |
54,971 | 56,532 | ||||||
Pool # AJ9357, 3.50%, 1/1/2027 |
110,629 | 114,354 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 171 |
JPMorgan U.S. Aggregate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities — continued |
| |||||||
Pool # AK4047, 3.00%, 2/1/2027 |
21,287 | 21,909 | ||||||
Pool # AL4586, 4.00%, 2/1/2027 |
46,234 | 48,009 | ||||||
Pool # AO0527, 3.00%, 5/1/2027 |
29,542 | 30,409 | ||||||
Pool # AO4400, 2.50%, 7/1/2027 |
65,463 | 66,349 | ||||||
Pool # AB5823, 3.50%, 8/1/2027 |
103,079 | 107,054 | ||||||
Pool # AL8138, 4.00%, 9/1/2027 |
27,569 | 28,655 | ||||||
Pool # AB6811, 2.50%, 10/1/2027 |
15,868 | 16,098 | ||||||
Pool # AQ9442, 2.00%, 12/1/2027 |
33,506 | 33,420 | ||||||
Pool # AB8447, 2.50%, 2/1/2028 |
28,096 | 28,503 | ||||||
Pool # AR4180, 2.50%, 2/1/2028 |
13,155 | 13,345 | ||||||
Pool # AL3802, 3.00%, 2/1/2028 |
85,122 | 87,597 | ||||||
Pool # AB8787, 2.00%, 3/1/2028 |
90,510 | 90,276 | ||||||
Pool # AP6059, 2.00%, 6/1/2028 |
11,095 | 11,067 | ||||||
Pool # BM5381, 3.00%, 6/1/2028 |
91,722 | 94,370 | ||||||
Pool # BM1892, 2.50%, 9/1/2028 |
28,441 | 28,869 | ||||||
Pool # AS0761, 3.00%, 10/1/2028 |
34,003 | 35,010 | ||||||
Pool # AU6961, 3.00%, 10/1/2028 |
64,794 | 66,709 | ||||||
Pool # AL6132, 4.50%, 3/1/2029 |
9,947 | 10,321 | ||||||
Pool # FM1105, 2.50%, 6/1/2029 |
57,355 | 58,164 | ||||||
Pool # AS3345, 2.00%, 7/1/2029 |
14,971 | 14,912 | ||||||
Pool # MA2061, 3.00%, 10/1/2029 |
82,084 | 84,520 | ||||||
Pool # FM1465, 3.00%, 5/1/2030 |
149,151 | 153,971 | ||||||
Pool # 890666, 2.00%, 6/1/2030 |
33,206 | 33,121 | ||||||
Pool # MA2684, 3.00%, 7/1/2031 |
138,225 | 142,674 | ||||||
Pool # AL9418, 3.50%, 8/1/2031 |
49,673 | 51,913 | ||||||
Pool # BD5647, 2.00%, 11/1/2031 |
20,133 | 20,080 | ||||||
Pool # 890776, 3.50%, 11/1/2031 |
34,121 | 35,318 | ||||||
Pool # BM5490, 3.50%, 11/1/2031 |
23,366 | 24,241 | ||||||
Pool # AS8708, 2.50%, 2/1/2032 |
451,643 | 457,431 | ||||||
Pool # BM4993, 3.50%, 3/1/2032 |
53,335 | 55,342 | ||||||
Pool # BM4741, 3.00%, 4/1/2032 |
14,867 | 15,298 | ||||||
Pool # FM1645, 3.00%, 4/1/2032 |
178,484 | 184,273 | ||||||
Pool # MA3124, 2.50%, 9/1/2032 |
44,941 | 45,594 | ||||||
Pool # FM3099, 3.50%, 9/1/2032 |
63,504 | 65,590 | ||||||
Pool # CA0775, 2.50%, 11/1/2032 |
32,277 | 32,691 | ||||||
Pool # MA3188, 3.00%, 11/1/2032 |
24,070 | 24,842 | ||||||
Pool # BH7081, 2.50%, 12/1/2032 |
50,004 | 50,742 | ||||||
Pool # BH8720, 3.50%, 12/1/2032 |
41,904 | 43,545 | ||||||
Pool # FM1161, 2.50%, 1/1/2033 |
50,779 | 51,553 | ||||||
Pool # FM1691, 2.50%, 1/1/2033 |
19,884 | 20,166 | ||||||
Pool # FM2549, 2.50%, 1/1/2033 |
107,255 | 108,847 | ||||||
Pool # CA9078, 3.00%, 9/1/2033 |
700,072 | 722,153 | ||||||
Pool # FM1123, 4.00%, 9/1/2033 |
146,211 | 152,982 | ||||||
Pool # FM2153, 4.00%, 11/1/2033 |
212,065 | 219,881 | ||||||
Pool # BD9105, 4.00%, 1/1/2034 |
40,803 | 42,512 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Pool # BM5306, 4.00%, 1/1/2034 |
6,373 | 6,664 | ||||||
Pool # FM1733, 3.50%, 5/1/2034 |
827,793 | 863,236 | ||||||
Pool # FM1842, 3.50%, 6/1/2034 |
191,454 | 198,548 | ||||||
Pool # FM6946, 3.00%, 7/1/2034 |
508,433 | 524,291 | ||||||
Pool # BO1822, 3.50%, 7/1/2034 |
83,528 | 86,677 | ||||||
Pool # MA3764, 2.50%, 9/1/2034 |
10,412 | 10,545 | ||||||
Pool # MA3910, 2.00%, 1/1/2035 |
31,146 | 30,957 | ||||||
Pool # FM3569, 3.00%, 1/1/2035 |
158,381 | 163,444 | ||||||
Pool # FM7941, 2.50%, 2/1/2035 |
446,551 | 452,274 | ||||||
Pool # FM8550, 3.00%, 2/1/2035 |
334,100 | 344,560 | ||||||
Pool # FM2708, 3.00%, 3/1/2035 |
85,697 | 88,386 | ||||||
Pool # MA4075, Class 177, 2.50%, 7/1/2035 |
471,288 | 477,595 | ||||||
Pool # FM4035, 2.50%, 8/1/2035 |
78,579 | 79,586 | ||||||
Pool # CA7497, 2.50%, 10/1/2035 |
1,468,826 | 1,491,254 | ||||||
Pool # FM5396, 2.00%, 12/1/2035 |
889,685 | 885,541 | ||||||
Pool # BR3349, 1.50%, 1/1/2036 |
1,601,085 | 1,560,069 | ||||||
Pool # BR1309, 2.00%, 1/1/2036 |
633,936 | 630,078 | ||||||
Pool # FM5537, 2.00%, 1/1/2036 |
672,098 | 668,008 | ||||||
Pool # FM5797, 2.00%, 1/1/2036 |
672,234 | 668,398 | ||||||
Pool # FM5367, 1.50%, 2/1/2036 |
494,734 | 482,140 | ||||||
Pool # MA4261, 2.00%, 2/1/2036 |
734,963 | 730,490 | ||||||
Pool # CB0305, 1.50%, 5/1/2036 |
1,013,011 | 987,042 | ||||||
Pool # FM7843, 1.50%, 6/1/2036 |
92,549 | 90,262 | ||||||
Pool # BP3507, 2.00%, 6/1/2036 |
183,439 | 182,323 | ||||||
Pool # FM8292, 2.00%, 7/1/2036 |
328,732 | 326,732 | ||||||
Pool # MA4430, 1.00%, 8/1/2036 |
190,077 | 180,062 | ||||||
Pool # BT0273, 1.50%, 9/1/2036 |
481,683 | 469,335 | ||||||
Pool # MA4417, 1.50%, 9/1/2036 |
381,221 | 371,338 | ||||||
Pool # MA4418, 2.00%, 9/1/2036 |
188,308 | 187,162 | ||||||
Pool # MA4441, 1.50%, 10/1/2036 |
529,756 | 516,016 | ||||||
Pool # BT9452, 1.50%, 11/1/2036 |
195,071 | 190,012 | ||||||
Pool # FM9247, 2.00%, 11/1/2036 |
372,372 | 370,106 | ||||||
Pool # MA4497, 2.00%, 12/1/2036 |
585,121 | 581,560 | ||||||
Pool # MA4516, 2.00%, 1/1/2037 |
591,465 | 587,866 | ||||||
FNMA UMBS, 20 Year |
||||||||
Pool # AE6799, 4.50%, 11/1/2030 |
2,786 | 2,950 | ||||||
Pool # MA0885, 3.50%, 10/1/2031 |
35,373 | 36,857 | ||||||
Pool # AB4853, 3.00%, 4/1/2032 |
34,382 | 35,476 | ||||||
Pool # MA1058, 3.00%, 5/1/2032 |
14,853 | 15,019 | ||||||
Pool # MA1165, 3.00%, 9/1/2032 |
83,269 | 85,712 | ||||||
Pool # MA2079, 4.00%, 11/1/2034 |
17,023 | 18,118 | ||||||
Pool # AL7654, 3.00%, 9/1/2035 |
70,357 | 71,821 | ||||||
Pool # MA2472, 3.00%, 12/1/2035 |
14,051 | 14,498 | ||||||
Pool # FM1133, 4.00%, 6/1/2036 |
35,143 | 37,317 | ||||||
Pool # MA3099, 4.00%, 8/1/2037 |
103,535 | 109,488 |
SEE NOTES TO FINANCIAL STATEMENTS.
172 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities — continued |
| |||||||
Pool # BM5330, 2.50%, 12/1/2037 |
45,520 | 45,652 | ||||||
Pool # FM3204, 4.00%, 10/1/2038 |
40,284 | 43,156 | ||||||
Pool # MA4072, 2.50%, 7/1/2040 |
165,433 | 165,828 | ||||||
Pool # MA4128, 2.00%, 9/1/2040 |
1,503,113 | 1,464,778 | ||||||
Pool # MA4204, 2.00%, 12/1/2040 |
933,069 | 909,217 | ||||||
Pool # CA9019, 2.00%, 2/1/2041 |
426,943 | 420,226 | ||||||
Pool # MA4310, 1.50%, 4/1/2041 |
829,424 | 781,048 | ||||||
Pool # MA4422, 2.00%, 9/1/2041 |
434,834 | 423,687 | ||||||
Pool # MA4446, 2.00%, 10/1/2041 |
437,807 | 426,583 | ||||||
Pool # MA4521, 2.50%, 1/1/2042 |
594,233 | 597,648 | ||||||
FNMA UMBS, 30 Year |
||||||||
Pool # 254447, 6.00%, 9/1/2032 |
26,615 | 30,162 | ||||||
Pool # 711215, 5.50%, 6/1/2033 |
22,573 | 24,671 | ||||||
Pool # AA1005, 5.00%, 12/1/2033 |
15,327 | 17,064 | ||||||
Pool # 725232, 5.00%, 3/1/2034 |
12,267 | 13,638 | ||||||
Pool # 725228, 6.00%, 3/1/2034 |
64,089 | 71,923 | ||||||
Pool # 790003, 6.00%, 8/1/2034 |
16,980 | 18,990 | ||||||
Pool # 735503, 6.00%, 4/1/2035 |
44,954 | 49,987 | ||||||
Pool # 190360, 5.00%, 8/1/2035 |
32,877 | 36,581 | ||||||
Pool # 904601, 6.00%, 11/1/2036 |
42,435 | 48,460 | ||||||
Pool # 888538, 5.50%, 1/1/2037 |
24,299 | 27,216 | ||||||
Pool # AB0284, 6.00%, 2/1/2037 |
44,150 | 49,972 | ||||||
Pool # AL2627, 5.00%, 7/1/2037 |
22,270 | 24,758 | ||||||
Pool # 956965, 6.50%, 12/1/2037 |
18,164 | 19,968 | ||||||
Pool # BH7907, 6.50%, 12/1/2037 |
21,048 | 23,965 | ||||||
Pool # 961793, 5.00%, 3/1/2038 |
82,702 | 91,996 | ||||||
Pool # 985661, 5.50%, 6/1/2038 |
13,712 | 15,212 | ||||||
Pool # AU7519, 3.50%, 9/1/2038 |
32,932 | 33,966 | ||||||
Pool # AA7402, 4.50%, 6/1/2039 |
131,548 | 142,885 | ||||||
Pool # AC2638, 5.00%, 10/1/2039 |
181,679 | 203,514 | ||||||
Pool # AL0100, 6.00%, 10/1/2039 |
62,454 | 70,456 | ||||||
Pool # AC4886, 5.00%, 11/1/2039 |
30,272 | 33,440 | ||||||
Pool # 190399, 5.50%, 11/1/2039 |
96,739 | 108,996 | ||||||
Pool # AB1143, 4.50%, 6/1/2040 |
104,580 | 114,781 | ||||||
Pool # AD6938, 4.50%, 6/1/2040 |
132,671 | 144,109 | ||||||
Pool # AD5479, 5.00%, 6/1/2040 |
29,820 | 32,989 | ||||||
Pool # AB1259, 5.00%, 7/1/2040 |
36,456 | 40,462 | ||||||
Pool # AB1292, 5.00%, 8/1/2040 |
14,466 | 15,782 | ||||||
Pool # AL5437, 5.00%, 8/1/2040 |
111,104 | 123,421 | ||||||
Pool # AB1421, 5.00%, 9/1/2040 |
51,295 | 57,465 | ||||||
Pool # AE4142, 5.00%, 9/1/2040 |
32,780 | 36,171 | ||||||
Pool # AE3857, 5.00%, 10/1/2040 |
777,709 | 854,964 | ||||||
Pool # AE8289, 4.00%, 12/1/2040 |
107,905 | 115,535 | ||||||
Pool # MA0622, 3.50%, 1/1/2041 |
34,971 | 36,775 | ||||||
Pool # AH2312, 5.00%, 1/1/2041 |
72,297 | 79,053 | ||||||
Pool # AE0828, 3.50%, 2/1/2041 |
20,443 | 21,492 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Pool # AH3804, 4.00%, 2/1/2041 |
23,213 | 24,887 | ||||||
Pool # MA0639, 4.00%, 2/1/2041 |
37,051 | 39,623 | ||||||
Pool # AB2676, 3.50%, 4/1/2041 |
116,660 | 122,703 | ||||||
Pool # AL0241, 4.00%, 4/1/2041 |
69,909 | 74,951 | ||||||
Pool # AI1887, 4.50%, 5/1/2041 |
261,553 | 283,232 | ||||||
Pool # BM3118, 6.00%, 7/1/2041 |
94,662 | 108,174 | ||||||
Pool # AJ2293, 4.00%, 9/1/2041 |
28,171 | 30,170 | ||||||
Pool # AL0933, 5.00%, 10/1/2041 |
96,304 | 107,218 | ||||||
Pool # AW8154, 3.50%, 1/1/2042 |
23,462 | 24,681 | ||||||
Pool # AX5318, 4.50%, 1/1/2042 |
78,040 | 84,753 | ||||||
Pool # BD4480, 4.50%, 1/1/2042 |
370,167 | 402,333 | ||||||
Pool # AL1998, 4.00%, 3/1/2042 |
115,100 | 123,368 | ||||||
Pool # AO4134, 3.50%, 6/1/2042 |
14,644 | 15,375 | ||||||
Pool # AO8694, 4.50%, 7/1/2042 |
36,829 | 39,325 | ||||||
Pool # AP4258, 3.00%, 8/1/2042 |
93,505 | 96,376 | ||||||
Pool # AB6632, 3.50%, 10/1/2042 |
135,691 | 142,741 | ||||||
Pool # AB6633, 3.50%, 10/1/2042 |
26,649 | 28,035 | ||||||
Pool # AL3344, 4.50%, 10/1/2042 |
159,373 | 173,378 | ||||||
Pool # AB6828, 3.50%, 11/1/2042 |
130,075 | 136,809 | ||||||
Pool # AL3182, 3.50%, 12/1/2042 |
22,454 | 23,650 | ||||||
Pool # AQ9316, 2.50%, 1/1/2043 |
61,665 | 61,463 | ||||||
Pool # AB7580, 3.00%, 1/1/2043 |
144,334 | 149,190 | ||||||
Pool # AQ1104, 3.00%, 1/1/2043 |
29,565 | 30,230 | ||||||
Pool # AR0168, 3.00%, 2/1/2043 |
54,220 | 55,773 | ||||||
Pool # AB7964, 3.50%, 2/1/2043 |
82,544 | 86,943 | ||||||
Pool # AR2271, 3.50%, 2/1/2043 |
398,230 | 416,085 | ||||||
Pool # BM4751, 3.50%, 3/1/2043 |
36,665 | 38,571 | ||||||
Pool # AB8742, 4.00%, 3/1/2043 |
17,209 | 18,490 | ||||||
Pool # AR6770, 4.00%, 3/1/2043 |
18,492 | 19,826 | ||||||
Pool # AT2015, 3.00%, 4/1/2043 |
38,279 | 39,363 | ||||||
Pool # AT2016, 3.00%, 4/1/2043 |
581,066 | 599,421 | ||||||
Pool # AB9194, 3.50%, 5/1/2043 |
137,826 | 144,998 | ||||||
Pool # FM4462, 3.50%, 5/1/2043 |
984,509 | 1,030,399 | ||||||
Pool # AU1629, 3.00%, 7/1/2043 |
89,532 | 92,316 | ||||||
Pool # BM3785, 3.50%, 7/1/2043 |
147,466 | 155,100 | ||||||
Pool # AS0241, 4.00%, 8/1/2043 |
814,163 | 863,806 | ||||||
Pool # BM3704, 3.00%, 9/1/2043 |
39,542 | 40,722 | ||||||
Pool # AT2612, 3.50%, 9/1/2043 |
83,321 | 87,359 | ||||||
Pool # AU4256, 3.50%, 9/1/2043 |
45,166 | 47,155 | ||||||
Pool # AU4283, 3.50%, 9/1/2043 |
21,815 | 22,904 | ||||||
Pool # AL4062, 4.00%, 9/1/2043 |
33,309 | 35,708 | ||||||
Pool # BM4635, 2.50%, 10/1/2043 |
175,810 | 175,410 | ||||||
Pool # AS1121, 4.00%, 11/1/2043 |
34,710 | 37,100 | ||||||
Pool # AV0022, 4.00%, 11/1/2043 |
528,749 | 566,666 | ||||||
Pool # AL7696, 3.00%, 12/1/2043 |
64,025 | 65,946 | ||||||
Pool # AV6103, 4.00%, 1/1/2044 |
207,520 | 222,548 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 173 |
JPMorgan U.S. Aggregate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities — continued |
| |||||||
Pool # BC1737, 4.00%, 1/1/2044 |
88,694 | 94,809 | ||||||
Pool # BM5365, 4.00%, 3/1/2044 |
77,557 | 83,067 | ||||||
Pool # FM1744, 3.50%, 5/1/2044 |
37,135 | 39,103 | ||||||
Pool # AS2700, 4.00%, 6/1/2044 |
47,060 | 50,445 | ||||||
Pool # AW6233, 4.50%, 6/1/2044 |
1,842,648 | 1,995,883 | ||||||
Pool # AS2947, 4.00%, 7/1/2044 |
46,076 | 49,388 | ||||||
Pool # AL9072, 5.00%, 7/1/2044 |
84,091 | 93,708 | ||||||
Pool # AL9569, 5.00%, 8/1/2044 |
130,004 | 145,177 | ||||||
Pool # AX0152, 4.50%, 9/1/2044 |
31,083 | 33,684 | ||||||
Pool # BM4620, 3.00%, 10/1/2044 |
101,951 | 105,475 | ||||||
Pool # AS3867, 4.00%, 11/1/2044 |
12,064 | 12,931 | ||||||
Pool # FM1746, 3.50%, 1/1/2045 |
113,282 | 119,146 | ||||||
Pool # FM0015, 4.00%, 2/1/2045 |
112,992 | 121,118 | ||||||
Pool # MA2193, 4.50%, 2/1/2045 |
20,056 | 21,633 | ||||||
Pool # FM3414, 4.00%, 3/1/2045 |
742,976 | 790,431 | ||||||
Pool # BM3398, 3.50%, 4/1/2045 |
16,283 | 17,123 | ||||||
Pool # CA2709, 4.00%, 9/1/2045 |
1,351,976 | 1,448,878 | ||||||
Pool # AS5851, 4.50%, 9/1/2045 |
14,408 | 15,468 | ||||||
Pool # AS6184, 3.50%, 11/1/2045 |
152,784 | 160,407 | ||||||
Pool # BA0315, 3.50%, 11/1/2045 |
440,951 | 460,935 | ||||||
Pool # FM1869, 4.00%, 11/1/2045 |
76,077 | 80,095 | ||||||
Pool # BM4833, 3.00%, 12/1/2045 |
636,048 | 652,195 | ||||||
Pool # FM1708, 3.00%, 12/1/2045 |
45,528 | 46,920 | ||||||
Pool # BC0066, 3.50%, 12/1/2045 |
34,632 | 36,267 | ||||||
Pool # FM3413, 4.00%, 1/1/2046 |
94,301 | 101,424 | ||||||
Pool # FM2323, 4.00%, 2/1/2046 |
45,997 | 49,259 | ||||||
Pool # AL9128, 4.50%, 2/1/2046 |
23,648 | 25,583 | ||||||
Pool # AS6811, 3.00%, 3/1/2046 |
34,355 | 35,240 | ||||||
Pool # BM4834, 3.00%, 3/1/2046 |
33,101 | 34,100 | ||||||
Pool # FM1782, 4.00%, 3/1/2046 |
14,452 | 15,533 | ||||||
Pool # FM2195, 4.00%, 3/1/2046 |
34,282 | 36,620 | ||||||
Pool # AS7003, 3.00%, 4/1/2046 |
45,959 | 47,112 | ||||||
Pool # AS7198, 4.50%, 5/1/2046 |
124,795 | 134,578 | ||||||
Pool # BD0166, 2.50%, 6/1/2046 |
135,449 | 134,646 | ||||||
Pool # BM5168, 2.50%, 6/1/2046 |
27,667 | 27,604 | ||||||
Pool # BC6105, 3.50%, 6/1/2046 |
1,101,533 | 1,154,259 | ||||||
Pool # FM1780, 4.00%, 7/1/2046 |
781,094 | 836,939 | ||||||
Pool # AS7660, 2.50%, 8/1/2046 |
260,726 | 259,177 | ||||||
Pool # MA2730, 2.50%, 8/1/2046 |
37,160 | 36,758 | ||||||
Pool # FM3810, 3.00%, 10/1/2046 |
121,317 | 124,709 | ||||||
Pool # AL9385, 3.00%, 11/1/2046 |
57,982 | 59,418 | ||||||
Pool # MA2806, 3.00%, 11/1/2046 |
177,644 | 181,387 | ||||||
Pool # BM3288, 3.50%, 12/1/2046 |
25,381 | 26,619 | ||||||
Pool # BM4990, 2.50%, 1/1/2047 |
13,342 | 13,312 | ||||||
Pool # FM2807, 3.00%, 1/1/2047 |
93,509 | 95,915 | ||||||
Pool # 890856, 3.50%, 1/1/2047 |
146,369 | 153,489 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Pool # FM3374, 3.50%, 1/1/2047 |
180,245 | 189,518 | ||||||
Pool # FM0041, 3.00%, 2/1/2047 |
684,126 | 700,805 | ||||||
Pool # BM5955, 4.00%, 2/1/2047 |
44,096 | 47,233 | ||||||
Pool # BM5270, 4.50%, 2/1/2047 |
19,395 | 21,041 | ||||||
Pool # BM4350, 3.00%, 3/1/2047 |
910,720 | 934,025 | ||||||
Pool # MA2920, 3.00%, 3/1/2047 |
8,838 | 9,051 | ||||||
Pool # FM3107, 3.50%, 3/1/2047 |
303,028 | 316,726 | ||||||
Pool # AS9313, 4.00%, 3/1/2047 |
19,820 | 21,041 | ||||||
Pool # FM4735, 3.00%, 4/1/2047 |
176,244 | 180,606 | ||||||
Pool # FM6073, 4.00%, 4/1/2047 |
1,423,569 | 1,505,359 | ||||||
Pool # AS9480, 4.50%, 4/1/2047 |
36,375 | 38,979 | ||||||
Pool # FM1772, 4.50%, 5/1/2047 |
19,087 | 20,688 | ||||||
Pool # BD0667, 4.50%, 6/1/2047 |
491,204 | 522,976 | ||||||
Pool # AS9937, 3.00%, 7/1/2047 |
672,387 | 688,712 | ||||||
Pool # AS9946, 3.50%, 7/1/2047 |
48,208 | 50,217 | ||||||
Pool # BM1568, 3.50%, 7/1/2047 |
80,282 | 84,573 | ||||||
Pool # BH7375, 3.50%, 8/1/2047 |
54,160 | 56,354 | ||||||
Pool # CA0148, 4.50%, 8/1/2047 |
17,146 | 18,192 | ||||||
Pool # CA0850, 3.00%, 9/1/2047 |
40,963 | 41,827 | ||||||
Pool # MA3147, 3.00%, 10/1/2047 |
45,229 | 46,152 | ||||||
Pool # BM2003, 4.00%, 10/1/2047 |
193,342 | 203,853 | ||||||
Pool # BH9392, 3.50%, 11/1/2047 |
16,594 | 17,189 | ||||||
Pool # CA0681, 3.50%, 11/1/2047 |
264,135 | 277,480 | ||||||
Pool # FM0028, 3.00%, 12/1/2047 |
54,690 | 56,145 | ||||||
Pool # MA3209, 3.00%, 12/1/2047 |
317,649 | 323,315 | ||||||
Pool # FM1420, 3.50%, 12/1/2047 |
247,418 | 259,446 | ||||||
Pool # CA4015, 3.00%, 1/1/2048 |
10,614 | 10,835 | ||||||
Pool # BJ6154, 3.50%, 1/1/2048 |
204,630 | 212,000 | ||||||
Pool # MA3238, 3.50%, 1/1/2048 |
57,907 | 59,935 | ||||||
Pool # BJ5910, 3.50%, 2/1/2048 |
222,505 | 234,667 | ||||||
Pool # MA3305, 3.50%, 3/1/2048 |
245,629 | 254,572 | ||||||
Pool # FM3494, 2.50%, 4/1/2048 |
12,674 | 12,599 | ||||||
Pool # CA2687, 3.00%, 5/1/2048 |
24,805 | 25,419 | ||||||
Pool # BM4054, 4.00%, 5/1/2048 |
112,672 | 119,255 | ||||||
Pool # MA3425, 3.00%, 6/1/2048 |
39,209 | 39,821 | ||||||
Pool # BM4757, 3.50%, 7/1/2048 |
46,005 | 48,191 | ||||||
Pool # FM3438, 3.00%, 8/1/2048 |
769,314 | 788,048 | ||||||
Pool # BM2007, 4.00%, 9/1/2048 |
5,469 | 5,725 | ||||||
Pool # CA2368, 4.00%, 9/1/2048 |
34,762 | 36,611 | ||||||
Pool # MA3472, 5.00%, 9/1/2048 |
12,841 | 13,900 | ||||||
Pool # CA4655, 3.50%, 10/1/2048 |
105,932 | 110,560 | ||||||
Pool # MA3495, 4.00%, 10/1/2048 |
36,234 | 37,888 | ||||||
Pool # CA2432, 4.50%, 10/1/2048 |
63,004 | 67,508 | ||||||
Pool # FM7895, 3.50%, 11/1/2048 |
316,053 | 331,351 | ||||||
Pool # FM1248, 4.50%, 11/1/2048 |
22,844 | 24,267 | ||||||
Pool # CA2797, 4.50%, 12/1/2048 |
748,839 | 809,638 |
SEE NOTES TO FINANCIAL STATEMENTS.
174 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities — continued |
| |||||||
Pool # FM0030, 3.00%, 2/1/2049 |
57,607 | 59,003 | ||||||
Pool # FM6237, 3.50%, 4/1/2049 |
667,587 | 702,113 | ||||||
Pool # MA3637, 3.50%, 4/1/2049 |
22,210 | 22,947 | ||||||
Pool # MA3638, 4.00%, 4/1/2049 |
21,327 | 22,291 | ||||||
Pool # BN5418, 4.50%, 4/1/2049 |
24,720 | 26,502 | ||||||
Pool # MA3664, 4.00%, 5/1/2049 |
10,958 | 11,448 | ||||||
Pool # FM4074, 4.50%, 5/1/2049 |
354,796 | 379,891 | ||||||
Pool # CA4358, 3.50%, 7/1/2049 |
18,866 | 19,498 | ||||||
Pool # FM1672, 4.50%, 7/1/2049 |
935,899 | 1,016,379 | ||||||
Pool # MA3745, 3.50%, 8/1/2049 |
102,502 | 105,598 | ||||||
Pool # MA3746, 4.00%, 8/1/2049 |
16,356 | 17,080 | ||||||
Pool # FM1385, 5.00%, 8/1/2049 |
468,002 | 521,466 | ||||||
Pool # BO4012, 3.00%, 9/1/2049 |
118,532 | 120,450 | ||||||
Pool # FM1449, 3.50%, 9/1/2049 |
165,771 | 171,277 | ||||||
Pool # FM4430, 3.50%, 9/1/2049 |
661,214 | 683,750 | ||||||
Pool # FM3572, 4.50%, 9/1/2049 |
97,507 | 104,496 | ||||||
Pool # MA3803, 3.50%, 10/1/2049 |
50,093 | 51,683 | ||||||
Pool # MA3833, 2.50%, 11/1/2049 |
142,949 | 142,098 | ||||||
Pool # BK0350, 3.00%, 11/1/2049 |
1,203,091 | 1,224,435 | ||||||
Pool # MA3870, 2.50%, 12/1/2049 |
220,463 | 219,013 | ||||||
Pool # FM2363, 3.00%, 1/1/2050 |
2,258,632 | 2,306,019 | ||||||
Pool # MA3905, 3.00%, 1/1/2050 |
1,021,839 | 1,033,143 | ||||||
Pool # CA5021, 3.50%, 1/1/2050 |
48,534 | 50,126 | ||||||
Pool # FM5922, 3.50%, 1/1/2050 |
419,630 | 435,225 | ||||||
Pool # MA3906, 3.50%, 1/1/2050 |
47,349 | 48,914 | ||||||
Pool # CA5135, 2.50%, 2/1/2050 |
152,167 | 151,254 | ||||||
Pool # MA3936, 2.50%, 2/1/2050 |
164,037 | 162,959 | ||||||
Pool # FM2733, 2.50%, 3/1/2050 |
114,946 | 114,212 | ||||||
Pool # FM4883, 2.50%, 3/1/2050 |
2,120,750 | 2,108,078 | ||||||
Pool # FM4372, 3.50%, 3/1/2050 |
696,941 | 721,358 | ||||||
Pool # BP2403, 3.50%, 4/1/2050 |
348,773 | 359,536 | ||||||
Pool # BP5001, 2.50%, 5/1/2050 |
664,644 | 658,495 | ||||||
Pool # FM3257, 3.00%, 5/1/2050 |
288,291 | 295,134 | ||||||
Pool # BK2753, 2.50%, 7/1/2050 |
1,052,281 | 1,043,147 | ||||||
Pool # MA4078, 2.50%, 7/1/2050 |
397,528 | 393,694 | ||||||
Pool # BP6626, 2.00%, 8/1/2050 |
2,559,191 | 2,462,640 | ||||||
Pool # MA4100, 2.00%, 8/1/2050 |
1,209,705 | 1,164,381 | ||||||
Pool # BP9500, 2.50%, 8/1/2050 |
101,977 | 100,969 | ||||||
Pool # BQ0723, 3.50%, 8/1/2050 |
1,313,923 | 1,356,477 | ||||||
Pool # FM5750, 4.00%, 8/1/2050 |
443,543 | 462,983 | ||||||
Pool # MA4119, 2.00%, 9/1/2050 |
163,009 | 156,898 | ||||||
Pool # BK3044, 2.50%, 9/1/2050 |
857,520 | 848,912 | ||||||
Pool # BP6702, 2.50%, 9/1/2050 |
644,456 | 638,364 | ||||||
Pool # FM8260, 4.00%, 9/1/2050 |
653,056 | 692,415 | ||||||
Pool # MA4158, 2.00%, 10/1/2050 |
1,897,136 | 1,825,931 | ||||||
Pool # MA4159, 2.50%, 10/1/2050 |
652,755 | 646,005 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Pool # MA4182, 2.00%, 11/1/2050 |
1,988,763 | 1,914,039 | ||||||
Pool # CA7603, 2.50%, 11/1/2050 |
364,505 | 360,293 | ||||||
Pool # MA4183, 2.50%, 11/1/2050 |
2,941,000 | 2,910,494 | ||||||
Pool # CA8222, 1.50%, 12/1/2050 |
1,594,797 | 1,481,382 | ||||||
Pool # MA4209, 1.50%, 12/1/2050 |
1,386,623 | 1,288,199 | ||||||
Pool # BQ5160, 2.00%, 12/1/2050 |
2,900,517 | 2,800,371 | ||||||
Pool # FM5849, 2.00%, 12/1/2050 |
955,867 | 919,830 | ||||||
Pool # MA4208, 2.00%, 12/1/2050 |
512,182 | 492,915 | ||||||
Pool # BR2807, 2.50%, 12/1/2050 |
1,418,769 | 1,410,254 | ||||||
Pool # MA4210, 2.50%, 12/1/2050 |
1,641,630 | 1,624,315 | ||||||
Pool # FM5597, 2.00%, 1/1/2051 |
236,036 | 227,107 | ||||||
Pool # FM6241, 2.00%, 1/1/2051 |
4,174,911 | 4,015,445 | ||||||
Pool # FM5854, 2.50%, 1/1/2051 |
216,725 | 214,360 | ||||||
Pool # MA4254, 1.50%, 2/1/2051 |
369,434 | 343,177 | ||||||
Pool # CA9190, 2.00%, 2/1/2051 |
929,184 | 893,790 | ||||||
Pool # FM6037, 2.00%, 2/1/2051 |
1,931,938 | 1,866,150 | ||||||
Pool # FM6126, 2.00%, 2/1/2051 |
234,685 | 225,796 | ||||||
Pool # MA4255, 2.00%, 2/1/2051 |
5,144,614 | 4,949,233 | ||||||
Pool # BR3515, 2.50%, 2/1/2051 |
191,363 | 189,136 | ||||||
Pool # FM6244, 2.00%, 3/1/2051 |
945,190 | 909,399 | ||||||
Pool # MA4281, 2.00%, 3/1/2051 |
282,858 | 272,111 | ||||||
Pool # FM6523, 2.50%, 3/1/2051 |
342,482 | 338,496 | ||||||
Pool # FM6764, 2.50%, 3/1/2051 |
945,978 | 935,606 | ||||||
Pool # FM6537, 2.00%, 4/1/2051 |
4,192,057 | 4,037,081 | ||||||
Pool # MA4306, 2.50%, 4/1/2051 |
279,575 | 276,399 | ||||||
Pool # FM7099, 3.00%, 4/1/2051 |
1,355,368 | 1,384,818 | ||||||
Pool # MA4325, 2.00%, 5/1/2051 |
2,523,740 | 2,423,957 | ||||||
Pool # FM7066, 2.50%, 5/1/2051 |
953,756 | 951,320 | ||||||
Pool # MA4355, 2.00%, 6/1/2051 |
471,675 | 453,418 | ||||||
Pool # CB0727, 2.50%, 6/1/2051 |
1,588,642 | 1,570,646 | ||||||
Pool # FM7418, 2.50%, 6/1/2051 |
995,999 | 984,723 | ||||||
Pool # FM8194, 2.00%, 7/1/2051 |
388,521 | 373,597 | ||||||
Pool # MA4378, 2.00%, 7/1/2051 |
2,286,373 | 2,197,551 | ||||||
Pool # CB1027, 2.50%, 7/1/2051 |
288,506 | 285,192 | ||||||
Pool # MA4379, 2.50%, 7/1/2051 |
694,533 | 686,057 | ||||||
Pool # MA4380, 3.00%, 7/1/2051 |
261,757 | 264,921 | ||||||
Pool # FM8278, 3.50%, 7/1/2051 |
503,387 | 518,966 | ||||||
Pool # BT9030, 2.00%, 8/1/2051 |
193,397 | 185,792 | ||||||
Pool # MA4398, 2.00%, 8/1/2051 |
288,574 | 277,315 | ||||||
Pool # BR2236, 2.50%, 8/1/2051 |
289,826 | 286,486 | ||||||
Pool # BR2237, 2.50%, 8/1/2051 |
569,064 | 562,464 | ||||||
Pool # BR2258, 2.50%, 8/1/2051 |
188,176 | 185,993 | ||||||
Pool # CB1276, 2.50%, 8/1/2051 |
818,783 | 809,380 | ||||||
Pool # MA4399, 2.50%, 8/1/2051 |
1,598,631 | 1,580,089 | ||||||
Pool # MA4401, 3.50%, 8/1/2051 |
165,533 | 170,635 | ||||||
Pool # BT0240, 2.00%, 9/1/2051 |
195,274 | 187,589 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 175 |
JPMorgan U.S. Aggregate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities — continued |
| |||||||
Pool # MA4413, 2.00%, 9/1/2051 |
828,341 | 795,906 | ||||||
Pool # MA4414, 2.50%, 9/1/2051 |
574,190 | 567,537 | ||||||
Pool # MA4437, 2.00%, 10/1/2051 |
831,904 | 799,217 | ||||||
Pool # MA4438, 2.50%, 10/1/2051 |
580,845 | 574,296 | ||||||
Pool # MA4464, 1.50%, 11/1/2051 |
592,443 | 550,229 | ||||||
Pool # MA4465, 2.00%, 11/1/2051 |
1,379,046 | 1,324,393 | ||||||
Pool # MA4492, 2.00%, 12/1/2051 |
1,188,313 | 1,141,680 | ||||||
Pool # FM9868, 2.50%, 12/1/2051 |
595,408 | 589,523 | ||||||
Pool # FM9870, 2.50%, 12/1/2051 |
597,474 | 590,283 | ||||||
Pool # MA4493, 2.50%, 12/1/2051 |
986,202 | 974,165 | ||||||
Pool # MA4511, 2.00%, 1/1/2052 |
897,718 | 862,144 | ||||||
Pool # MA4512, 2.50%, 1/1/2052 |
500,000 | 493,897 | ||||||
Pool # MA4547, 2.00%, 2/1/2052 |
498,672 | 478,936 | ||||||
Pool # MA4548, 2.50%, 2/1/2052 |
498,135 | 492,060 | ||||||
FNMA/FHLMC UMBS, Single Family, 30 Year |
| |||||||
TBA, 2.00%, 3/25/2052 (a) |
4,300,000 | 4,124,641 | ||||||
TBA, 2.50%, 3/25/2052 (a) |
8,900,000 | 8,780,754 | ||||||
TBA, 3.00%, 3/25/2052 (a) |
5,400,000 | 5,454,000 | ||||||
TBA, 3.50%, 3/25/2052 (a) |
600,000 | 617,906 | ||||||
GNMA I, 30 Year |
||||||||
Pool # 704155, 5.50%, 1/15/2039 |
19,244 | 21,702 | ||||||
Pool # 726769, 5.00%, 9/15/2039 |
14,029 | 15,544 | ||||||
Pool # 721340, 5.00%, 12/15/2039 |
48,755 | 54,043 | ||||||
Pool # 754439, 3.50%, 12/15/2041 |
120,642 | 127,488 | ||||||
Pool # 711674, 3.00%, 9/15/2042 |
48,831 | 50,457 | ||||||
Pool # 783748, 3.50%, 4/15/2043 |
70,985 | 75,091 | ||||||
Pool # 784660, 4.00%, 4/15/2043 |
6,639 | 7,135 | ||||||
Pool # AC2224, 3.50%, 6/15/2043 |
50,064 | 52,789 | ||||||
Pool # 785088, 3.50%, 7/15/2043 |
65,952 | 70,240 | ||||||
Pool # AJ4151, 4.00%, 9/15/2044 |
246,402 | 260,323 | ||||||
Pool # AL9314, 3.00%, 3/15/2045 |
46,073 | 47,374 | ||||||
Pool # 784664, 4.00%, 4/15/2045 |
25,413 | 27,555 | ||||||
Pool # AO0544, 3.00%, 8/15/2045 |
27,856 | 28,531 | ||||||
Pool # 627030, 3.00%, 12/15/2045 |
22,732 | 23,488 | ||||||
Pool # 784429, 3.00%, 8/15/2046 |
92,011 | 94,747 | ||||||
Pool # 784652, 4.00%, 11/15/2047 |
544,707 | 592,881 | ||||||
Pool # 784766, 3.50%, 3/15/2048 |
742,860 | 780,563 | ||||||
GNMA II, 15 Year |
||||||||
Pool # MA0513, 2.50%, 11/20/2027 |
75,333 | 76,211 | ||||||
Pool # MA4625, 3.50%, 8/20/2032 |
27,280 | 28,295 | ||||||
Pool # MA6906, 2.50%, 10/20/2035 |
457,328 | 466,285 | ||||||
GNMA II, 30 Year |
||||||||
Pool # 711773, 3.50%, 6/20/2033 |
61,510 | 63,546 | ||||||
Pool # 3459, 5.50%, 10/20/2033 |
55,035 | 61,258 | ||||||
Pool # AQ5932, 3.50%, 1/20/2036 |
85,734 | 88,554 | ||||||
Pool # 4222, 6.00%, 8/20/2038 |
10,438 | 11,949 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Pool # 709148, 4.50%, 2/20/2039 |
29,634 | 31,104 | ||||||
Pool # 4446, 4.50%, 5/20/2039 |
3,211 | 3,493 | ||||||
Pool # 4467, 4.00%, 6/20/2039 |
14,519 | 15,536 | ||||||
Pool # 4468, 4.50%, 6/20/2039 |
2,816 | 3,064 | ||||||
Pool # 4494, 4.00%, 7/20/2039 |
15,500 | 16,584 | ||||||
Pool # 4495, 4.50%, 7/20/2039 |
12,227 | 13,304 | ||||||
Pool # 4519, 4.50%, 8/20/2039 |
4,541 | 4,940 | ||||||
Pool # 4558, 4.50%, 10/20/2039 |
3,795 | 4,129 | ||||||
Pool # 4576, 4.00%, 11/20/2039 |
7,177 | 7,678 | ||||||
Pool # 4598, 4.50%, 12/20/2039 |
7,456 | 8,112 | ||||||
Pool # 4617, 4.50%, 1/20/2040 |
4,020 | 4,374 | ||||||
Pool # 4636, 4.50%, 2/20/2040 |
5,806 | 6,317 | ||||||
Pool # 4656, 4.00%, 3/20/2040 |
11,449 | 12,249 | ||||||
Pool # 4677, 4.00%, 4/20/2040 |
31,259 | 33,445 | ||||||
Pool # 4678, 4.50%, 4/20/2040 |
1,399 | 1,522 | ||||||
Pool # 4695, 4.00%, 5/20/2040 |
3,486 | 3,730 | ||||||
Pool # 4696, 4.50%, 5/20/2040 |
1,400 | 1,524 | ||||||
Pool # 4712, 4.00%, 6/20/2040 |
5,151 | 5,512 | ||||||
Pool # 4800, 4.00%, 9/20/2040 |
5,560 | 5,949 | ||||||
Pool # 737727, 4.00%, 12/20/2040 |
47,825 | 51,323 | ||||||
Pool # 4945, 4.00%, 2/20/2041 |
12,137 | 12,986 | ||||||
Pool # 759342, 4.50%, 2/20/2041 |
246,434 | 264,634 | ||||||
Pool # 4950, 5.50%, 2/20/2041 |
22,018 | 25,051 | ||||||
Pool # 4976, 3.50%, 3/20/2041 |
13,515 | 14,282 | ||||||
Pool # 4977, 4.00%, 3/20/2041 |
22,145 | 23,694 | ||||||
Pool # 5016, 4.00%, 4/20/2041 |
8,667 | 9,274 | ||||||
Pool # 5054, 4.00%, 5/20/2041 |
13,626 | 14,580 | ||||||
Pool # 5114, 4.00%, 7/20/2041 |
1,762 | 1,885 | ||||||
Pool # 779497, 3.50%, 10/20/2041 |
10,285 | 10,730 | ||||||
Pool # 5233, 4.00%, 11/20/2041 |
2,147 | 2,297 | ||||||
Pool # 5258, 3.50%, 12/20/2041 |
128,900 | 136,979 | ||||||
Pool # 5259, 4.00%, 12/20/2041 |
8,149 | 8,719 | ||||||
Pool # 5279, 3.50%, 1/20/2042 |
24,022 | 25,529 | ||||||
Pool # 5330, 3.00%, 3/20/2042 |
15,338 | 15,822 | ||||||
Pool # 754406, 3.50%, 5/20/2042 |
59,411 | 62,657 | ||||||
Pool # MA0220, 3.50%, 7/20/2042 |
10,156 | 10,691 | ||||||
Pool # MA0318, 3.50%, 8/20/2042 |
142,402 | 149,537 | ||||||
Pool # 796468, 4.00%, 9/20/2042 |
21,911 | 23,234 | ||||||
Pool # AA6040, 3.00%, 1/20/2043 |
114,789 | 118,022 | ||||||
Pool # AD1584, 3.00%, 1/20/2043 |
139,833 | 144,378 | ||||||
Pool # AD2125, 3.50%, 1/20/2043 |
97,213 | 103,255 | ||||||
Pool # AA6054, 3.00%, 2/20/2043 |
214,446 | 223,114 | ||||||
Pool # AD1744, 3.00%, 2/20/2043 |
18,125 | 18,858 | ||||||
Pool # 783755, 3.00%, 4/20/2043 |
141,555 | 146,070 | ||||||
Pool # 783976, 3.50%, 4/20/2043 |
23,610 | 24,778 | ||||||
Pool # MA1012, 3.50%, 5/20/2043 |
120,872 | 128,368 |
SEE NOTES TO FINANCIAL STATEMENTS.
176 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities — continued |
| |||||||
Pool # MA1157, 3.50%, 7/20/2043 |
24,027 | 25,534 | ||||||
Pool # MA1284, 3.00%, 9/20/2043 |
18,944 | 19,542 | ||||||
Pool # 785065, 3.50%, 10/20/2043 |
266,467 | 280,538 | ||||||
Pool # MA1376, 4.00%, 10/20/2043 |
115,323 | 123,397 | ||||||
Pool # AI7106, 4.00%, 6/20/2044 |
50,385 | 52,630 | ||||||
Pool # 784026, 3.50%, 12/20/2044 |
200,190 | 219,916 | ||||||
Pool # MA2678, 3.50%, 3/20/2045 |
154,610 | 162,265 | ||||||
Pool # MA2679, 4.00%, 3/20/2045 |
52,755 | 56,442 | ||||||
Pool # MA2753, 3.00%, 4/20/2045 |
78,485 | 80,580 | ||||||
Pool # 626942, 3.00%, 5/20/2045 |
163,770 | 169,400 | ||||||
Pool # MA2825, 3.00%, 5/20/2045 |
198,811 | 205,094 | ||||||
Pool # MA2829, 5.00%, 5/20/2045 |
28,736 | 32,099 | ||||||
Pool # 784800, 3.00%, 6/20/2045 |
39,405 | 40,687 | ||||||
Pool # AM9881, 3.00%, 6/20/2045 |
21,987 | 22,561 | ||||||
Pool # MA3247, 5.00%, 11/20/2045 |
26,138 | 29,276 | ||||||
Pool # AO9442, 3.50%, 12/20/2045 |
22,515 | 23,677 | ||||||
Pool # 784119, 3.00%, 2/20/2046 |
171,306 | 176,263 | ||||||
Pool # MA3458, 5.50%, 2/20/2046 |
37,522 | 42,130 | ||||||
Pool # MA3520, 3.00%, 3/20/2046 |
467,183 | 479,632 | ||||||
Pool # MA3735, 3.00%, 6/20/2046 |
320,487 | 329,037 | ||||||
Pool # AT7138, 3.50%, 6/20/2046 |
324,224 | 339,668 | ||||||
Pool # MA3935, 2.50%, 9/20/2046 |
82,332 | 82,844 | ||||||
Pool # 784768, 3.00%, 9/20/2046 |
88,963 | 92,830 | ||||||
Pool # AT8215, 3.00%, 9/20/2046 |
25,511 | 26,388 | ||||||
Pool # MA4002, 2.50%, 10/20/2046 |
456,124 | 457,580 | ||||||
Pool # AW0199, 3.00%, 10/20/2046 |
51,301 | 52,391 | ||||||
Pool # MA4068, 3.00%, 11/20/2046 |
13,549 | 13,886 | ||||||
Pool # MA4072, 5.00%, 11/20/2046 |
28,487 | 31,968 | ||||||
Pool # MA4125, 2.50%, 12/20/2046 |
418,495 | 421,101 | ||||||
Pool # MA4126, 3.00%, 12/20/2046 |
63,329 | 64,983 | ||||||
Pool # MA4260, 2.50%, 2/20/2047 |
72,795 | 73,114 | ||||||
Pool # AZ3119, 3.50%, 3/20/2047 |
41,657 | 43,308 | ||||||
Pool # AZ7084, 3.50%, 4/20/2047 |
108,197 | 111,775 | ||||||
Pool # MA4511, 4.00%, 6/20/2047 |
205,662 | 216,344 | ||||||
Pool # BA5041, 5.00%, 6/20/2047 |
97,834 | 104,694 | ||||||
Pool # MA4584, 2.50%, 7/20/2047 |
92,150 | 92,453 | ||||||
Pool # MA4718, 3.00%, 9/20/2047 |
8,815 | 9,045 | ||||||
Pool # MA4721, 4.50%, 9/20/2047 |
39,621 | 42,370 | ||||||
Pool # MA4836, 3.00%, 11/20/2047 |
425,989 | 437,352 | ||||||
Pool # BC2742, 3.50%, 11/20/2047 |
656,034 | 683,777 | ||||||
Pool # BD6940, 3.50%, 12/20/2047 |
235 | 244 | ||||||
Pool # MA4900, 3.50%, 12/20/2047 |
106,060 | 110,598 | ||||||
Pool # MA5019, 3.50%, 2/20/2048 |
278,242 | 289,886 | ||||||
Pool # MA5077, 3.50%, 3/20/2048 |
41,416 | 43,259 | ||||||
Pool # MA5138, 4.50%, 4/20/2048 |
17,298 | 18,288 | ||||||
Pool # 785033, 3.50%, 5/20/2048 |
253,332 | 273,984 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Pool # MA5194, 5.00%, 5/20/2048 |
108,275 | 115,505 | ||||||
Pool # MA5329, 3.50%, 7/20/2048 |
9,976 | 10,386 | ||||||
Pool # MA5468, 5.00%, 9/20/2048 |
8,676 | 9,221 | ||||||
Pool # MA5527, 3.50%, 10/20/2048 |
37,188 | 38,637 | ||||||
Pool # MA5595, 4.00%, 11/20/2048 |
46,009 | 48,176 | ||||||
Pool # BJ6759, 4.50%, 11/20/2048 |
418,319 | 439,662 | ||||||
Pool # MA5650, 3.50%, 12/20/2048 |
15,075 | 15,684 | ||||||
Pool # MA5651, 4.00%, 12/20/2048 |
220,601 | 231,709 | ||||||
Pool # MA5709, 3.50%, 1/20/2049 |
104,423 | 108,776 | ||||||
Pool # BI6473, 4.00%, 1/20/2049 |
1,230,393 | 1,306,854 | ||||||
Pool # BJ9901, 3.00%, 2/20/2049 |
57,432 | 59,414 | ||||||
Pool # MA5930, 3.50%, 5/20/2049 |
13,690 | 14,154 | ||||||
Pool # MA5983, 2.50%, 6/20/2049 |
149,032 | 149,962 | ||||||
Pool # MA5985, 3.50%, 6/20/2049 |
55,194 | 57,063 | ||||||
Pool # MA5987, 4.50%, 6/20/2049 |
50,626 | 53,301 | ||||||
Pool # MA5988, 5.00%, 6/20/2049 |
9,910 | 10,519 | ||||||
Pool # MA6039, 3.50%, 7/20/2049 |
93,057 | 96,210 | ||||||
Pool # BM5450, 4.50%, 7/20/2049 |
74,657 | 79,271 | ||||||
Pool # MA6220, 4.00%, 10/20/2049 |
248,658 | 259,502 | ||||||
Pool # BR4627, 3.00%, 11/20/2049 |
520,412 | 540,194 | ||||||
Pool # 785067, 3.50%, 12/20/2049 |
475,653 | 493,163 | ||||||
Pool # MA6478, 5.00%, 2/20/2050 |
33,192 | 35,579 | ||||||
Pool # MA6542, 3.50%, 3/20/2050 |
311,729 | 322,202 | ||||||
Pool # MA6545, 5.00%, 3/20/2050 |
38,057 | 40,588 | ||||||
Pool # BV1348, 2.50%, 6/20/2050 |
106,668 | 104,852 | ||||||
Pool # MA6709, 2.50%, 6/20/2050 |
846,574 | 848,388 | ||||||
Pool # MA6818, 2.00%, 8/20/2050 |
1,524,614 | 1,497,080 | ||||||
Pool # BY8818, 2.00%, 10/20/2050 |
600,880 | 588,356 | ||||||
Pool # 785401, 2.50%, 10/20/2050 |
837,609 | 841,850 | ||||||
Pool # MA6994, 2.00%, 11/20/2050 |
1,669,914 | 1,639,605 | ||||||
Pool # BY8832, 2.50%, 11/20/2050 |
530,007 | 530,389 | ||||||
Pool # MA7051, 2.00%, 12/20/2050 |
2,580,400 | 2,533,446 | ||||||
Pool # CA4485, 2.50%, 12/20/2050 |
692,542 | 692,430 | ||||||
Pool # MA7052, 2.50%, 12/20/2050 |
1,084,225 | 1,085,602 | ||||||
Pool # MA7055, 4.00%, 12/20/2050 |
306,981 | 319,621 | ||||||
Pool # MA7135, 2.00%, 1/20/2051 |
2,949,199 | 2,894,291 | ||||||
Pool # MA7254, 2.00%, 3/20/2051 |
1,276,608 | 1,251,344 | ||||||
Pool # MA7311, 2.00%, 4/20/2051 |
3,013,270 | 2,956,348 | ||||||
Pool # 785449, 3.00%, 4/20/2051 |
341,510 | 352,483 | ||||||
Pool # MA7367, 2.50%, 5/20/2051 |
1,743,498 | 1,744,749 | ||||||
Pool # MA7368, 3.00%, 5/20/2051 |
551,180 | 561,213 | ||||||
Pool # MA7417, 2.00%, 6/20/2051 |
3,514,985 | 3,445,366 | ||||||
Pool # MA7418, 2.50%, 6/20/2051 |
1,920,965 | 1,922,347 | ||||||
Pool # MA7420, 3.50%, 6/20/2051 |
527,019 | 544,725 | ||||||
Pool # MA7471, 2.00%, 7/20/2051 |
2,816,857 | 2,761,308 | ||||||
Pool # MA7472, 2.50%, 7/20/2051 |
912,265 | 912,922 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 177 |
JPMorgan U.S. Aggregate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Mortgage-Backed Securities — continued |
| |||||||
Pool # MA7473, 3.00%, 7/20/2051 |
597,960 | 608,845 | ||||||
Pool # MA7533, 2.00%, 8/20/2051 |
1,165,680 | 1,142,197 | ||||||
Pool # MA7588, 2.00%, 9/20/2051 |
1,174,549 | 1,150,613 | ||||||
Pool # MA7589, 2.50%, 9/20/2051 |
487,072 | 487,423 | ||||||
Pool # MA7766, 2.00%, 12/20/2051 |
2,485,569 | 2,433,635 | ||||||
Pool # MA7826, 2.00%, 1/20/2052 |
498,624 | 488,212 | ||||||
GNMA II, Single Family, 30 Year |
||||||||
TBA, 2.00%, 3/15/2052 (a) |
1,500,000 | 1,466,484 | ||||||
TBA, 2.50%, 3/15/2052 (a) |
3,800,000 | 3,796,883 | ||||||
TBA, 3.00%, 3/15/2052 (a) |
1,200,000 | 1,219,922 | ||||||
|
|
|||||||
Total
Mortgage-Backed Securities |
|
283,321,081 | ||||||
|
|
|||||||
Corporate Bonds — 25.0% |
| |||||||
Auto Components — 0.2% |
| |||||||
Aptiv plc |
||||||||
2.40%, 2/18/2025 |
770,000 | 769,234 | ||||||
4.40%, 10/1/2046 |
216,000 | 222,707 | ||||||
5.40%, 3/15/2049 |
90,000 | 105,436 | ||||||
3.10%, 12/1/2051 |
546,000 | 461,097 | ||||||
Lear Corp. |
||||||||
4.25%, 5/15/2029 |
83,000 | 87,898 | ||||||
5.25%, 5/15/2049 |
483,000 | 541,308 | ||||||
|
|
|||||||
2,187,680 | ||||||||
|
|
|||||||
Banks — 1.4% |
| |||||||
Discover Bank |
||||||||
4.25%, 3/13/2026 (b) |
636,000 | 672,668 | ||||||
3.45%, 7/27/2026 |
90,000 | 92,576 | ||||||
4.65%, 9/13/2028 |
960,000 | 1,042,075 | ||||||
Kreditanstalt fuer Wiederaufbau (Germany) |
||||||||
2.63%, 2/28/2024 |
36,000 | 36,800 | ||||||
0.25%, 3/8/2024 |
371,000 | 361,760 | ||||||
0.50%, 9/20/2024 |
500,000 | 485,965 | ||||||
2.50%, 11/20/2024 |
75,000 | 76,718 | ||||||
0.38%, 7/18/2025 |
198,000 | 189,088 | ||||||
0.63%, 1/22/2026 |
72,000 | 68,778 | ||||||
1.00%, 10/1/2026 |
403,000 | 389,150 | ||||||
1.75%, 9/14/2029 |
70,000 | 69,231 | ||||||
Zero Coupon, 4/18/2036 |
263,000 | 194,734 | ||||||
Zero Coupon, 6/29/2037 |
872,000 | 629,738 | ||||||
Landwirtschaftliche Rentenbank (Germany) |
||||||||
2.00%, 1/13/2025 |
498,000 | 502,527 | ||||||
2.38%, 6/10/2025 |
75,000 | 76,434 | ||||||
0.88%, 9/3/2030 |
107,000 | 98,145 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Banks — continued |
| |||||||
NatWest Group plc (United Kingdom) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.15%), 2.36%, 5/22/2024 (c) |
1,179,000 | 1,181,413 | ||||||
Oesterreichische Kontrollbank AG (Austria) |
||||||||
1.50%, 2/12/2025 |
160,000 | 158,973 | ||||||
0.50%, 2/2/2026 |
130,000 | 123,201 | ||||||
Royal Bank of Canada (Canada) |
||||||||
1.60%, 4/17/2023 |
423,000 | 423,608 | ||||||
2.55%, 7/16/2024 |
350,000 | 353,500 | ||||||
2.25%, 11/1/2024 |
2,242,000 | 2,243,669 | ||||||
0.88%, 1/20/2026 |
1,155,000 | 1,090,735 | ||||||
SVB Financial Group |
||||||||
3.50%, 1/29/2025 |
947,000 | 976,049 | ||||||
1.80%, 10/28/2026 |
2,064,000 | 1,993,784 | ||||||
2.10%, 5/15/2028 |
392,000 | 375,280 | ||||||
|
|
|||||||
13,906,599 | ||||||||
|
|
|||||||
Beverages — 0.0% (d) |
| |||||||
Brown-Forman Corp. |
||||||||
3.50%, 4/15/2025 |
36,000 | 37,427 | ||||||
4.00%, 4/15/2038 |
93,000 | 100,808 | ||||||
4.50%, 7/15/2045 |
269,000 | 309,566 | ||||||
|
|
|||||||
447,801 | ||||||||
|
|
|||||||
Biotechnology — 0.1% |
| |||||||
Regeneron Pharmaceuticals, Inc. |
||||||||
1.75%, 9/15/2030 |
115,000 | 102,680 | ||||||
2.80%, 9/15/2050 |
1,271,000 | 1,048,617 | ||||||
|
|
|||||||
1,151,297 | ||||||||
|
|
|||||||
Building Products — 0.3% |
| |||||||
Allegion plc 3.50%, 10/1/2029 |
365,000 | 370,660 | ||||||
Johnson Controls International plc |
||||||||
3.62%, 7/2/2024 (e) |
437,000 | 451,269 | ||||||
1.75%, 9/15/2030 |
233,000 | 213,142 | ||||||
4.63%, 7/2/2044 (e) |
1,029,000 | 1,157,337 | ||||||
4.95%, 7/2/2064 (e) |
723,000 | 833,531 | ||||||
|
|
|||||||
3,025,939 | ||||||||
|
|
|||||||
Capital Markets — 4.8% |
| |||||||
Affiliated Managers Group, Inc. |
||||||||
4.25%, 2/15/2024 |
370,000 | 385,520 | ||||||
3.30%, 6/15/2030 |
211,000 | 213,546 | ||||||
Ameriprise Financial, Inc. |
||||||||
3.70%, 10/15/2024 |
310,000 | 322,934 |
SEE NOTES TO FINANCIAL STATEMENTS.
178 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Capital Markets — continued |
| |||||||
3.00%, 4/2/2025 |
200,000 | 203,600 | ||||||
2.88%, 9/15/2026 |
858,000 | 878,609 | ||||||
BlackRock, Inc. |
||||||||
3.20%, 3/15/2027 |
548,000 | 571,258 | ||||||
2.40%, 4/30/2030 |
553,000 | 539,975 | ||||||
Charles Schwab Corp. (The) |
||||||||
3.75%, 4/1/2024 |
327,000 | 338,530 | ||||||
3.20%, 3/2/2027 |
15,000 | 15,558 | ||||||
3.30%, 4/1/2027 (b) |
1,197,000 | 1,247,655 | ||||||
2.00%, 3/20/2028 |
359,000 | 348,662 | ||||||
4.00%, 2/1/2029 |
451,000 | 486,609 | ||||||
3.25%, 5/22/2029 |
1,277,000 | 1,314,657 | ||||||
4.63%, 3/22/2030 |
513,000 | 581,855 | ||||||
CME Group, Inc. |
||||||||
3.00%, 9/15/2022 |
429,000 | 433,475 | ||||||
3.00%, 3/15/2025 |
131,000 | 134,500 | ||||||
3.75%, 6/15/2028 |
282,000 | 301,951 | ||||||
5.30%, 9/15/2043 |
389,000 | 496,883 | ||||||
4.15%, 6/15/2048 |
1,990,000 | 2,278,468 | ||||||
Deutsche Bank AG (Germany) |
||||||||
(SOFR + 2.58%), 3.96%, 11/26/2025 (c) |
150,000 | 153,470 | ||||||
4.10%, 1/13/2026 |
1,608,000 | 1,674,821 | ||||||
(SOFR + 1.87%), 2.13%, 11/24/2026 (c) |
1,889,000 | 1,818,570 | ||||||
Eaton Vance Corp. |
||||||||
3.63%, 6/15/2023 |
100,000 | 102,173 | ||||||
3.50%, 4/6/2027 |
972,000 | 1,006,816 | ||||||
Franklin Resources, Inc. |
||||||||
2.80%, 9/15/2022 |
25,000 | 25,243 | ||||||
1.60%, 10/30/2030 |
1,237,000 | 1,107,026 | ||||||
2.95%, 8/12/2051 |
1,142,000 | 987,033 | ||||||
Goldman Sachs Group, Inc. (The) |
||||||||
3.63%, 2/20/2024 |
37,000 | 38,018 | ||||||
3.85%, 7/8/2024 |
2,807,000 | 2,899,886 | ||||||
3.50%, 1/23/2025 |
25,000 | 25,723 | ||||||
(ICE LIBOR USD 3 Month + 1.16%), 3.81%, 4/23/2029 (c) |
27,000 | 28,023 | ||||||
(ICE LIBOR USD 3 Month + 1.30%), 4.22%, 5/1/2029 (c) |
1,435,000 | 1,521,117 | ||||||
(SOFR + 1.47%), 2.91%, 7/21/2042 (c) |
1,416,000 | 1,265,082 | ||||||
4.80%, 7/8/2044 |
225,000 | 258,061 | ||||||
Intercontinental Exchange, Inc. |
||||||||
0.70%, 6/15/2023 |
3,449,000 | 3,409,770 | ||||||
3.00%, 9/15/2060 |
1,940,000 | 1,662,679 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Capital Markets — continued |
| |||||||
Janus Henderson US Holdings, Inc. 4.88%, 8/1/2025 |
520,000 | 554,585 | ||||||
Jefferies Financial Group, Inc. 5.50%, 10/18/2023 |
370,000 | 381,723 | ||||||
Jefferies Group LLC |
||||||||
2.63%, 10/15/2031 |
129,000 | 119,941 | ||||||
6.25%, 1/15/2036 |
1,839,000 | 2,263,511 | ||||||
Lazard Group LLC |
||||||||
3.75%, 2/13/2025 |
2,124,000 | 2,202,835 | ||||||
3.63%, 3/1/2027 |
539,000 | 557,512 | ||||||
4.50%, 9/19/2028 |
228,000 | 244,662 | ||||||
4.38%, 3/11/2029 |
404,000 | 428,141 | ||||||
Legg Mason, Inc. 4.75%, 3/15/2026 |
283,000 | 307,928 | ||||||
Morgan Stanley |
||||||||
(SOFR + 0.46%), 0.53%, 1/25/2024 (c) |
3,516,000 | 3,475,322 | ||||||
(SOFR + 0.62%), 0.73%, 4/5/2024 (c) |
81,000 | 79,892 | ||||||
(SOFR + 1.15%), 2.72%, 7/22/2025 (c) |
548,000 | 551,221 | ||||||
Series I, (SOFR + 0.75%), 0.86%, 10/21/2025 (c) |
200,000 | 191,950 | ||||||
(SOFR + 0.56%), 1.16%, 10/21/2025 (c) |
293,000 | 283,037 | ||||||
3.88%, 1/27/2026 |
500,000 | 522,226 | ||||||
(SOFR + 1.99%), 2.19%, 4/28/2026 (c) |
100,000 | 98,658 | ||||||
(SOFR + 0.88%), 1.59%, 5/4/2027 (c) |
110,000 | 104,799 | ||||||
(ICE LIBOR USD 3 Month + 1.34%), 3.59%, 7/22/2028 (c) |
42,000 | 43,390 | ||||||
(ICE LIBOR USD 3 Month + 1.63%), 4.43%, 1/23/2030 (c) |
50,000 | 53,994 | ||||||
(SOFR + 1.20%), 2.51%, 10/20/2032 (c) |
100,000 | 94,496 | ||||||
Morgan Stanley Domestic Holdings, Inc. |
||||||||
3.80%, 8/24/2027 |
40,000 | 41,830 | ||||||
4.50%, 6/20/2028 |
70,000 | 75,596 | ||||||
Nasdaq, Inc. |
||||||||
0.45%, 12/21/2022 |
85,000 | 84,465 | ||||||
4.25%, 6/1/2024 |
267,000 | 278,249 | ||||||
3.85%, 6/30/2026 |
1,291,000 | 1,351,959 | ||||||
2.50%, 12/21/2040 (b) |
454,000 | 381,839 | ||||||
3.25%, 4/28/2050 |
633,000 | 573,824 | ||||||
Raymond James Financial, Inc. 4.65%, 4/1/2030 |
190,000 | 209,008 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 179 |
JPMorgan U.S. Aggregate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Capital Markets — continued |
| |||||||
S&P Global, Inc. |
||||||||
4.00%, 6/15/2025 |
510,000 | 537,176 | ||||||
2.95%, 1/22/2027 (b) |
352,000 | 361,683 | ||||||
2.50%, 12/1/2029 |
611,000 | 599,682 | ||||||
1.25%, 8/15/2030 |
317,000 | 281,723 | ||||||
3.25%, 12/1/2049 |
487,000 | 466,901 | ||||||
2.30%, 8/15/2060 |
1,078,000 | 810,969 | ||||||
Stifel Financial Corp. |
||||||||
4.25%, 7/18/2024 |
467,000 | 486,336 | ||||||
4.00%, 5/15/2030 |
686,000 | 720,833 | ||||||
|
|
|||||||
48,899,652 | ||||||||
|
|
|||||||
Chemicals — 0.7% |
| |||||||
EI du Pont de Nemours and Co. |
||||||||
1.70%, 7/15/2025 |
573,000 | 561,480 | ||||||
2.30%, 7/15/2030 |
1,803,000 | 1,740,406 | ||||||
NewMarket Corp. 2.70%, 3/18/2031 |
694,000 | 668,070 | ||||||
RPM International, Inc. 3.75%, 3/15/2027 |
241,000 | 253,691 | ||||||
Sherwin-Williams Co. (The) |
||||||||
3.13%, 6/1/2024 |
183,000 | 187,173 | ||||||
3.45%, 8/1/2025 |
148,000 | 152,309 | ||||||
4.50%, 6/1/2047 |
1,952,000 | 2,135,120 | ||||||
3.80%, 8/15/2049 |
442,000 | 440,335 | ||||||
2.90%, 3/15/2052 |
994,000 | 852,361 | ||||||
Syngenta Finance NV (Switzerland) 3.13%, 3/28/2022 |
6,000 | 6,002 | ||||||
|
|
|||||||
6,996,947 | ||||||||
|
|
|||||||
Communications Equipment — 0.6% |
| |||||||
Cisco Systems, Inc. |
||||||||
2.60%, 2/28/2023 |
39,000 | 39,492 | ||||||
3.63%, 3/4/2024 |
2,374,000 | 2,463,486 | ||||||
3.50%, 6/15/2025 |
1,802,000 | 1,885,518 | ||||||
2.50%, 9/20/2026 (b) |
872,000 | 891,187 | ||||||
5.90%, 2/15/2039 |
17,000 | 22,582 | ||||||
Juniper Networks, Inc. |
||||||||
3.75%, 8/15/2029 |
42,000 | 43,328 | ||||||
2.00%, 12/10/2030 |
1,141,000 | 1,022,316 | ||||||
|
|
|||||||
6,367,909 | ||||||||
|
|
|||||||
Construction Materials — 0.0% (d) |
| |||||||
Eagle Materials, Inc. 2.50%, 7/1/2031 |
321,000 | 300,092 | ||||||
|
|
|||||||
Consumer Finance — 1.5% |
| |||||||
Ally Financial, Inc. |
||||||||
1.45%, 10/2/2023 |
433,000 | 427,841 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Consumer Finance — continued |
| |||||||
3.88%, 5/21/2024 |
1,242,000 | 1,281,461 | ||||||
5.13%, 9/30/2024 |
403,000 | 427,487 | ||||||
4.63%, 3/30/2025 |
130,000 | 136,885 | ||||||
8.00%, 11/1/2031 |
355,000 | 467,460 | ||||||
American Express Co. |
||||||||
3.70%, 8/3/2023 |
778,000 | 798,887 | ||||||
3.40%, 2/22/2024 |
498,000 | 512,000 | ||||||
3.00%, 10/30/2024 |
232,000 | 237,267 | ||||||
4.20%, 11/6/2025 (b) |
777,000 | 826,615 | ||||||
3.13%, 5/20/2026 |
190,000 | 195,169 | ||||||
3.30%, 5/3/2027 (f) |
726,000 | 749,143 | ||||||
4.05%, 12/3/2042 |
2,493,000 | 2,737,636 | ||||||
Discover Financial Services |
||||||||
3.95%, 11/6/2024 |
1,192,000 | 1,238,204 | ||||||
4.10%, 2/9/2027 |
494,000 | 517,904 | ||||||
Synchrony Financial |
||||||||
4.50%, 7/23/2025 |
142,000 | 148,921 | ||||||
3.70%, 8/4/2026 |
1,118,000 | 1,139,121 | ||||||
3.95%, 12/1/2027 |
242,000 | 249,635 | ||||||
5.15%, 3/19/2029 |
3,371,000 | 3,687,006 | ||||||
|
|
|||||||
15,778,642 | ||||||||
|
|
|||||||
Containers & Packaging — 0.0% (d) |
| |||||||
Avery Dennison Corp. |
||||||||
4.88%, 12/6/2028 |
156,000 | 173,822 | ||||||
2.65%, 4/30/2030 |
85,000 | 81,861 | ||||||
|
|
|||||||
255,683 | ||||||||
|
|
|||||||
Diversified Financial Services — 0.1% |
| |||||||
Block Financial LLC |
||||||||
2.50%, 7/15/2028 |
48,000 | 45,826 | ||||||
3.88%, 8/15/2030 |
669,000 | 678,052 | ||||||
Private Export Funding Corp. Series PP, 1.40%, 7/15/2028 |
58,000 | 55,007 | ||||||
|
|
|||||||
778,885 | ||||||||
|
|
|||||||
Diversified Telecommunication Services — 0.0% (d) |
| |||||||
Koninklijke KPN NV (Netherlands) 8.38%, 10/1/2030 (b) |
355,000 | 477,228 | ||||||
|
|
|||||||
Electric Utilities — 1.6% |
| |||||||
Alabama Power Co. |
||||||||
Series 20-A, 1.45%, 9/15/2030 |
1,897,000 | 1,694,919 | ||||||
3.13%, 7/15/2051 |
32,000 | 28,882 | ||||||
Baltimore Gas and Electric Co. |
||||||||
3.35%, 7/1/2023 |
468,000 | 476,317 | ||||||
3.20%, 9/15/2049 |
13,000 | 12,161 | ||||||
2.90%, 6/15/2050 |
214,000 | 190,608 |
SEE NOTES TO FINANCIAL STATEMENTS.
180 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Electric Utilities — continued |
| |||||||
Emera US Finance LP (Canada) |
||||||||
2.64%, 6/15/2031 |
1,225,000 | 1,144,303 | ||||||
4.75%, 6/15/2046 |
236,000 | 251,649 | ||||||
Enel Americas SA (Chile) 4.00%, 10/25/2026 (b) |
793,000 | 816,981 | ||||||
Exelon Corp. |
||||||||
3.40%, 4/15/2026 |
20,000 | 20,643 | ||||||
4.05%, 4/15/2030 |
1,223,000 | 1,296,924 | ||||||
5.63%, 6/15/2035 |
160,000 | 190,143 | ||||||
4.70%, 4/15/2050 |
2,612,000 | 2,961,722 | ||||||
Georgia Power Co. |
||||||||
Series A, 2.20%, 9/15/2024 |
328,000 | 327,175 | ||||||
Series A, 3.25%, 3/15/2051 |
201,000 | 179,718 | ||||||
Hydro-Quebec (Canada) 8.50%, 12/1/2029 |
50,000 | 71,691 | ||||||
Iberdrola International BV (Spain) |
||||||||
5.81%, 3/15/2025 |
77,000 | 85,071 | ||||||
6.75%, 7/15/2036 (b) |
157,000 | 214,670 | ||||||
Mississippi Power Co. Series B, 3.10%, 7/30/2051 |
50,000 | 44,422 | ||||||
Ohio Edison Co. 6.88%, 7/15/2036 |
400,000 | 539,551 | ||||||
Oklahoma Gas and Electric Co. |
||||||||
3.80%, 8/15/2028 |
400,000 | 419,964 | ||||||
3.30%, 3/15/2030 |
81,000 | 82,716 | ||||||
Southern Co. (The) |
||||||||
2.95%, 7/1/2023 |
106,000 | 107,342 | ||||||
Series A, 3.70%, 4/30/2030 |
3,319,000 | 3,422,602 | ||||||
4.40%, 7/1/2046 |
80,000 | 83,774 | ||||||
Tampa Electric Co. |
||||||||
2.40%, 3/15/2031 |
176,000 | 168,064 | ||||||
4.10%, 6/15/2042 |
200,000 | 211,083 | ||||||
4.35%, 5/15/2044 |
31,000 | 33,916 | ||||||
Union Electric Co. |
||||||||
8.45%, 3/15/2039 |
60,000 | 95,142 | ||||||
3.90%, 9/15/2042 |
800,000 | 831,325 | ||||||
|
|
|||||||
16,003,478 | ||||||||
|
|
|||||||
Electronic Equipment, Instruments & Components — 0.1% |
| |||||||
Amphenol Corp. |
||||||||
2.05%, 3/1/2025 |
380,000 | 377,091 | ||||||
4.35%, 6/1/2029 |
51,000 | 55,376 | ||||||
2.80%, 2/15/2030 |
133,000 | 130,848 | ||||||
2.20%, 9/15/2031 |
561,000 | 518,715 | ||||||
|
|
|||||||
1,082,030 | ||||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Entertainment — 0.5% |
| |||||||
Activision Blizzard, Inc. |
||||||||
3.40%, 9/15/2026 |
110,000 | 115,180 | ||||||
1.35%, 9/15/2030 |
3,442,000 | 3,065,797 | ||||||
4.50%, 6/15/2047 (b) |
873,000 | 1,011,349 | ||||||
2.50%, 9/15/2050 |
95,000 | 79,754 | ||||||
Electronic Arts, Inc. |
||||||||
4.80%, 3/1/2026 |
353,000 | 383,647 | ||||||
1.85%, 2/15/2031 |
23,000 | 21,019 | ||||||
|
|
|||||||
4,676,746 | ||||||||
|
|
|||||||
Food & Staples Retailing — 0.3% |
| |||||||
Ahold Finance USA LLC (Netherlands) 6.88%, 5/1/2029 |
216,000 | 269,781 | ||||||
Costco Wholesale Corp. 1.75%, 4/20/2032 |
2,155,000 | 1,985,062 | ||||||
Koninklijke Ahold Delhaize NV (Netherlands) 5.70%, 10/1/2040 |
491,000 | 633,381 | ||||||
|
|
|||||||
2,888,224 | ||||||||
|
|
|||||||
Food Products — 0.1% |
| |||||||
Flowers Foods, Inc. |
||||||||
3.50%, 10/1/2026 |
487,000 | 507,729 | ||||||
2.40%, 3/15/2031 |
159,000 | 149,964 | ||||||
|
|
|||||||
657,693 | ||||||||
|
|
|||||||
Gas Utilities — 0.3% |
| |||||||
National Fuel Gas Co. |
||||||||
5.20%, 7/15/2025 |
1,735,000 | 1,849,735 | ||||||
5.50%, 1/15/2026 |
355,000 | 384,901 | ||||||
4.75%, 9/1/2028 |
576,000 | 603,650 | ||||||
|
|
|||||||
2,838,286 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies — 0.5% |
| |||||||
DH Europe Finance II SARL 3.25%, 11/15/2039 |
308,000 | 301,674 | ||||||
Edwards Lifesciences Corp. 4.30%, 6/15/2028 |
1,013,000 | 1,097,424 | ||||||
Koninklijke Philips NV (Netherlands) |
||||||||
6.88%, 3/11/2038 |
536,000 | 732,549 | ||||||
5.00%, 3/15/2042 |
960,000 | 1,128,423 | ||||||
STERIS Irish FinCo. UnLtd Co. 3.75%, 3/15/2051 |
1,791,000 | 1,717,754 | ||||||
|
|
|||||||
4,977,824 | ||||||||
|
|
|||||||
Health Care Providers & Services — 0.1% |
| |||||||
AmerisourceBergen Corp. |
||||||||
0.74%, 3/15/2023 |
242,000 | 239,941 | ||||||
3.25%, 3/1/2025 (b) |
255,000 | 261,740 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 181 |
JPMorgan U.S. Aggregate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Health Care Providers & Services — continued |
| |||||||
3.45%, 12/15/2027 |
429,000 | 446,107 | ||||||
4.25%, 3/1/2045 |
350,000 | 362,317 | ||||||
4.30%, 12/15/2047 |
175,000 | 183,658 | ||||||
|
|
|||||||
1,493,763 | ||||||||
|
|
|||||||
Hotels, Restaurants & Leisure — 0.1% |
| |||||||
Darden Restaurants, Inc. |
||||||||
3.85%, 5/1/2027 (b) |
538,000 | 566,641 | ||||||
4.55%, 2/15/2048 |
738,000 | 752,300 | ||||||
|
|
|||||||
1,318,941 | ||||||||
|
|
|||||||
Household Durables — 0.2% |
| |||||||
PulteGroup, Inc. |
||||||||
7.88%, 6/15/2032 |
40,000 | 54,062 | ||||||
6.00%, 2/15/2035 |
1,425,000 | 1,712,485 | ||||||
|
|
|||||||
1,766,547 | ||||||||
|
|
|||||||
Household Products — 0.1% |
| |||||||
Church & Dwight Co., Inc. |
||||||||
3.15%, 8/1/2027 |
61,000 | 62,729 | ||||||
3.95%, 8/1/2047 |
659,000 | 710,900 | ||||||
|
|
|||||||
773,629 | ||||||||
|
|
|||||||
Independent Power and Renewable Electricity Producers — 0.0% (d) |
| |||||||
Southern Power Co. Series F, 4.95%, 12/15/2046 |
25,000 | 27,540 | ||||||
|
|
|||||||
Industrial Conglomerates — 0.0% (d) |
| |||||||
Pentair Finance SARL 4.50%, 7/1/2029 |
264,000 | 285,279 | ||||||
|
|
|||||||
Interactive Media & Services — 0.7% |
| |||||||
Alphabet, Inc. |
||||||||
3.38%, 2/25/2024 |
819,000 | 847,897 | ||||||
0.45%, 8/15/2025 |
2,568,000 | 2,449,308 | ||||||
2.00%, 8/15/2026 |
2,029,000 | 2,033,898 | ||||||
2.05%, 8/15/2050 |
174,000 | 140,387 | ||||||
2.25%, 8/15/2060 |
1,571,000 | 1,257,886 | ||||||
|
|
|||||||
6,729,376 | ||||||||
|
|
|||||||
Internet & Direct Marketing Retail — 0.6% |
| |||||||
Alibaba Group Holding Ltd. (China) |
||||||||
3.60%, 11/28/2024 |
201,000 | 206,623 | ||||||
4.50%, 11/28/2034 |
405,000 | 425,151 | ||||||
4.00%, 12/6/2037 |
202,000 | 197,432 | ||||||
3.15%, 2/9/2051 |
546,000 | 442,988 | ||||||
4.40%, 12/6/2057 |
1,800,000 | 1,769,914 | ||||||
3.25%, 2/9/2061 |
540,000 | 420,770 | ||||||
JD.com, Inc. (China) |
||||||||
3.88%, 4/29/2026 |
1,830,000 | 1,909,903 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Internet & Direct Marketing Retail — continued |
| |||||||
4.13%, 1/14/2050 |
1,439,000 | 1,325,683 | ||||||
|
|
|||||||
6,698,464 | ||||||||
|
|
|||||||
IT Services — 0.2% |
| |||||||
Amdocs Ltd. 2.54%, 6/15/2030 |
1,417,000 | 1,335,838 | ||||||
CGI, Inc. (Canada) 1.45%, 9/14/2026 (f) |
500,000 | 475,659 | ||||||
|
|
|||||||
1,811,497 | ||||||||
|
|
|||||||
Life Sciences Tools & Services — 0.0% (d) |
| |||||||
Agilent Technologies, Inc. 3.88%, 7/15/2023 |
334,000 | 341,838 | ||||||
PerkinElmer, Inc. |
||||||||
3.30%, 9/15/2029 |
142,000 | 142,941 | ||||||
2.55%, 3/15/2031 |
12,000 | 11,428 | ||||||
|
|
|||||||
496,207 | ||||||||
|
|
|||||||
Machinery — 0.2% |
| |||||||
Dover Corp. |
||||||||
3.15%, 11/15/2025 |
438,000 | 451,538 | ||||||
2.95%, 11/4/2029 |
10,000 | 10,116 | ||||||
5.38%, 10/15/2035 (b) |
283,000 | 334,809 | ||||||
IDEX Corp. 3.00%, 5/1/2030 |
1,139,000 | 1,127,838 | ||||||
Oshkosh Corp. 3.10%, 3/1/2030 |
588,000 | 576,170 | ||||||
|
|
|||||||
2,500,471 | ||||||||
|
|
|||||||
Media — 0.0% (d) |
| |||||||
Interpublic Group of Cos., Inc. (The) 4.75%, 3/30/2030 |
228,000 | 252,861 | ||||||
|
|
|||||||
Metals & Mining — 2.4% |
| |||||||
ArcelorMittal SA (Luxembourg) |
||||||||
4.55%, 3/11/2026 |
515,000 | 540,834 | ||||||
6.75%, 3/1/2041 (e) |
20,000 | 24,404 | ||||||
Barrick Gold Corp. (Canada) 6.45%, 10/15/2035 |
1,504,000 | 1,945,586 | ||||||
Freeport-McMoRan, Inc. |
||||||||
4.38%, 8/1/2028 |
1,818,000 | 1,847,281 | ||||||
5.45%, 3/15/2043 |
17,000 | 19,543 | ||||||
Newmont Corp. |
||||||||
2.80%, 10/1/2029 |
888,000 | 868,421 | ||||||
5.88%, 4/1/2035 |
353,000 | 431,231 | ||||||
6.25%, 10/1/2039 |
384,000 | 497,799 | ||||||
4.88%, 3/15/2042 |
369,000 | 424,198 | ||||||
5.45%, 6/9/2044 |
843,000 | 1,029,088 | ||||||
Rio Tinto Alcan, Inc. (Canada) |
||||||||
7.25%, 3/15/2031 |
1,188,000 | 1,579,301 | ||||||
6.13%, 12/15/2033 |
691,000 | 901,865 | ||||||
5.75%, 6/1/2035 |
106,000 | 133,916 |
SEE NOTES TO FINANCIAL STATEMENTS.
182 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Metals & Mining — continued |
| |||||||
Rio Tinto Finance USA plc (Australia) |
||||||||
4.75%, 3/22/2042 |
339,000 | 397,478 | ||||||
4.13%, 8/21/2042 |
3,127,000 | 3,420,041 | ||||||
Southern Copper Corp. (Peru) |
||||||||
3.50%, 11/8/2022 |
94,000 | 95,096 | ||||||
3.88%, 4/23/2025 |
1,299,000 | 1,338,000 | ||||||
5.25%, 11/8/2042 |
178,000 | 207,321 | ||||||
5.88%, 4/23/2045 (b) |
1,745,000 | 2,181,456 | ||||||
Vale Overseas Ltd. (Brazil) |
||||||||
6.25%, 8/10/2026 |
916,000 | 1,034,758 | ||||||
3.75%, 7/8/2030 |
2,696,000 | 2,662,963 | ||||||
6.88%, 11/10/2039 (b) |
548,000 | 678,162 | ||||||
Vale SA (Brazil) 5.63%, 9/11/2042 |
2,111,000 | 2,331,396 | ||||||
|
|
|||||||
24,590,138 | ||||||||
|
|
|||||||
Multiline Retail — 0.2% |
| |||||||
Dollar General Corp. |
||||||||
3.25%, 4/15/2023 |
524,000 | 531,702 | ||||||
3.50%, 4/3/2030 |
479,000 | 490,455 | ||||||
4.13%, 4/3/2050 |
779,000 | 804,416 | ||||||
|
|
|||||||
1,826,573 | ||||||||
|
|
|||||||
Multi-Utilities — 0.3% |
| |||||||
Ameren Corp. |
||||||||
2.50%, 9/15/2024 |
662,000 | 663,461 | ||||||
3.65%, 2/15/2026 |
926,000 | 963,871 | ||||||
1.75%, 3/15/2028 |
222,000 | 207,898 | ||||||
3.50%, 1/15/2031 |
289,000 | 295,602 | ||||||
Southern Co. Gas Capital Corp. |
||||||||
2.45%, 10/1/2023 |
11,000 | 11,099 | ||||||
Series 20-A, 1.75%, 1/15/2031 |
683,000 | 606,827 | ||||||
4.40%, 6/1/2043 |
19,000 | 19,723 | ||||||
3.95%, 10/1/2046 |
15,000 | 14,770 | ||||||
4.40%, 5/30/2047 |
68,000 | 71,626 | ||||||
|
|
|||||||
2,854,877 | ||||||||
|
|
|||||||
Oil, Gas & Consumable Fuels — 2.7% |
| |||||||
Burlington Resources LLC |
||||||||
7.20%, 8/15/2031 |
179,000 | 241,261 | ||||||
7.40%, 12/1/2031 |
250,000 | 347,591 | ||||||
5.95%, 10/15/2036 |
351,000 | 454,209 | ||||||
Canadian Natural Resources Ltd. (Canada) |
||||||||
2.95%, 1/15/2023 |
100,000 | 101,040 | ||||||
2.05%, 7/15/2025 |
1,747,000 | 1,720,778 | ||||||
5.85%, 2/1/2035 |
1,410,000 | 1,662,842 | ||||||
4.95%, 6/1/2047 (b) |
1,200,000 | 1,353,699 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Oil, Gas & Consumable Fuels — continued |
| |||||||
CNOOC Finance 2013 Ltd. (China) 3.00%, 5/9/2023 |
201,000 | 203,539 | ||||||
CNOOC Finance 2015 USA LLC (China) 3.50%, 5/5/2025 |
200,000 | 206,606 | ||||||
Conoco Funding Co. 7.25%, 10/15/2031 |
201,000 | 272,100 | ||||||
ConocoPhillips |
||||||||
3.75%, 10/1/2027 (f) |
267,000 | 285,313 | ||||||
4.30%, 8/15/2028 (f) |
110,000 | 120,532 | ||||||
5.90%, 10/15/2032 |
323,000 | 402,025 | ||||||
5.90%, 5/15/2038 |
30,000 | 38,825 | ||||||
6.50%, 2/1/2039 |
841,000 | 1,165,344 | ||||||
ConocoPhillips Co. |
||||||||
4.95%, 3/15/2026 |
828,000 | 907,231 | ||||||
4.30%, 11/15/2044 |
262,000 | 287,133 | ||||||
5.95%, 3/15/2046 |
33,000 | 44,834 | ||||||
Continental Resources, Inc. |
||||||||
3.80%, 6/1/2024 |
481,000 | 491,289 | ||||||
4.90%, 6/1/2044 |
176,000 | 177,358 | ||||||
Devon Energy Corp. |
||||||||
4.50%, 1/15/2030 |
2,847,000 | 2,973,894 | ||||||
7.95%, 4/15/2032 |
218,000 | 296,113 | ||||||
5.60%, 7/15/2041 (b) |
1,610,000 | 1,882,072 | ||||||
Eni USA, Inc. (Italy) 7.30%, 11/15/2027 |
54,000 | 65,981 | ||||||
EOG Resources, Inc. |
||||||||
4.38%, 4/15/2030 |
411,000 | 454,566 | ||||||
3.90%, 4/1/2035 |
716,000 | 769,809 | ||||||
4.95%, 4/15/2050 |
313,000 | 380,198 | ||||||
Equinor ASA (Norway) 3.95%, 5/15/2043 |
56,000 | 59,168 | ||||||
Hess Corp. |
||||||||
7.88%, 10/1/2029 |
324,000 | 418,371 | ||||||
7.30%, 8/15/2031 |
1,397,000 | 1,779,067 | ||||||
5.60%, 2/15/2041 |
2,588,000 | 2,982,575 | ||||||
Magellan Midstream Partners LP |
||||||||
5.00%, 3/1/2026 |
490,000 | 532,832 | ||||||
3.25%, 6/1/2030 (b) |
85,000 | 84,958 | ||||||
5.15%, 10/15/2043 |
335,000 | 369,165 | ||||||
4.25%, 9/15/2046 (b) |
466,000 | 461,819 | ||||||
4.20%, 10/3/2047 |
350,000 | 343,918 | ||||||
4.85%, 2/1/2049 |
400,000 | 428,493 | ||||||
3.95%, 3/1/2050 |
721,000 | 682,558 | ||||||
Pioneer Natural Resources Co. |
||||||||
0.55%, 5/15/2023 |
1,549,000 | 1,529,281 | ||||||
1.90%, 8/15/2030 |
241,000 | 219,106 | ||||||
2.15%, 1/15/2031 |
200,000 | 184,606 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 183 |
JPMorgan U.S. Aggregate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Oil, Gas & Consumable Fuels — continued |
| |||||||
Tosco Corp. 8.13%, 2/15/2030 |
65,000 | 87,807 | ||||||
|
|
|||||||
27,469,906 | ||||||||
|
|
|||||||
Personal Products — 0.1% |
| |||||||
Estee Lauder Cos., Inc. (The) |
||||||||
2.00%, 12/1/2024 (b) |
210,000 | 210,932 | ||||||
3.15%, 3/15/2027 |
174,000 | 180,920 | ||||||
2.60%, 4/15/2030 |
58,000 | 57,626 | ||||||
6.00%, 5/15/2037 |
95,000 | 127,059 | ||||||
4.38%, 6/15/2045 |
191,000 | 219,872 | ||||||
4.15%, 3/15/2047 |
175,000 | 197,810 | ||||||
3.13%, 12/1/2049 |
323,000 | 315,132 | ||||||
|
|
|||||||
1,309,351 | ||||||||
|
|
|||||||
Pharmaceuticals — 1.1% |
| |||||||
Johnson & Johnson |
||||||||
0.55%, 9/1/2025 |
713,000 | 678,900 | ||||||
2.95%, 3/3/2027 |
229,000 | 237,522 | ||||||
6.95%, 9/1/2029 |
50,000 | 66,265 | ||||||
3.63%, 3/3/2037 |
53,000 | 57,137 | ||||||
5.95%, 8/15/2037 |
25,000 | 33,903 | ||||||
3.40%, 1/15/2038 |
495,000 | 513,570 | ||||||
5.85%, 7/15/2038 |
125,000 | 166,719 | ||||||
2.10%, 9/1/2040 |
831,000 | 718,100 | ||||||
4.50%, 9/1/2040 |
73,000 | 85,385 | ||||||
4.85%, 5/15/2041 |
116,000 | 142,403 | ||||||
4.50%, 12/5/2043 |
25,000 | 29,473 | ||||||
3.70%, 3/1/2046 |
1,679,000 | 1,802,256 | ||||||
3.75%, 3/3/2047 |
218,000 | 237,256 | ||||||
3.50%, 1/15/2048 |
838,000 | 874,370 | ||||||
2.45%, 9/1/2060 |
282,000 | 234,366 | ||||||
Zoetis, Inc. |
||||||||
3.25%, 2/1/2023 |
868,000 | 876,942 | ||||||
3.00%, 9/12/2027 |
1,425,000 | 1,452,582 | ||||||
3.90%, 8/20/2028 |
630,000 | 666,706 | ||||||
2.00%, 5/15/2030 |
1,045,000 | 972,141 | ||||||
4.70%, 2/1/2043 |
205,000 | 236,309 | ||||||
3.95%, 9/12/2047 (b) |
447,000 | 481,243 | ||||||
4.45%, 8/20/2048 |
305,000 | 346,988 | ||||||
|
|
|||||||
10,910,536 | ||||||||
|
|
|||||||
Professional Services — 0.3% |
| |||||||
Thomson Reuters Corp. (Canada) |
||||||||
3.35%, 5/15/2026 |
1,342,000 | 1,386,772 | ||||||
5.85%, 4/15/2040 |
25,000 | 32,401 | ||||||
5.65%, 11/23/2043 (b) |
1,201,000 | 1,538,096 | ||||||
|
|
|||||||
2,957,269 | ||||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Semiconductors & Semiconductor Equipment — 1.1% |
| |||||||
Micron Technology, Inc. 4.98%, 2/6/2026 |
658,000 | 710,700 | ||||||
NVIDIA Corp. |
||||||||
0.31%, 6/15/2023 |
418,000 | 411,849 | ||||||
0.58%, 6/14/2024 |
105,000 | 102,159 | ||||||
2.85%, 4/1/2030 |
835,000 | 845,422 | ||||||
3.50%, 4/1/2050 (b) |
538,000 | 551,643 | ||||||
3.70%, 4/1/2060 |
1,333,000 | 1,392,025 | ||||||
Texas Instruments, Inc. |
||||||||
1.13%, 9/15/2026 |
153,000 | 147,214 | ||||||
2.90%, 11/3/2027 |
212,000 | 219,853 | ||||||
2.25%, 9/4/2029 |
582,000 | 573,986 | ||||||
1.75%, 5/4/2030 |
532,000 | 501,445 | ||||||
1.90%, 9/15/2031 |
30,000 | 28,298 | ||||||
3.88%, 3/15/2039 |
669,000 | 729,168 | ||||||
4.15%, 5/15/2048 (b) |
1,384,000 | 1,572,897 | ||||||
2.70%, 9/15/2051 (b) |
2,822,000 | 2,547,120 | ||||||
TSMC Arizona Corp. (Taiwan) |
||||||||
1.75%, 10/25/2026 |
1,062,000 | 1,029,167 | ||||||
3.25%, 10/25/2051 |
488,000 | 465,289 | ||||||
|
|
|||||||
11,828,235 | ||||||||
|
|
|||||||
Software — 0.1% |
| |||||||
Cadence Design Systems, Inc. 4.38%, 10/15/2024 |
865,000 | 908,170 | ||||||
|
|
|||||||
Specialty Retail — 0.3% |
| |||||||
Advance Auto Parts, Inc. 3.90%, 4/15/2030 |
1,576,000 | 1,632,828 | ||||||
Best Buy Co., Inc. 4.45%, 10/1/2028 |
334,000 | 359,964 | ||||||
O’Reilly Automotive, Inc. 3.90%, 6/1/2029 |
382,000 | 401,596 | ||||||
Tractor Supply Co. 1.75%, 11/1/2030 |
585,000 | 520,456 | ||||||
|
|
|||||||
2,914,844 | ||||||||
|
|
|||||||
Technology Hardware, Storage & Peripherals — 0.4% |
| |||||||
HP, Inc. |
||||||||
2.20%, 6/17/2025 |
884,000 | 878,403 | ||||||
1.45%, 6/17/2026 |
1,383,000 | 1,311,763 | ||||||
3.00%, 6/17/2027 |
1,471,000 | 1,483,671 | ||||||
|
|
|||||||
3,673,837 | ||||||||
|
|
|||||||
Textiles, Apparel & Luxury Goods — 0.1% |
| |||||||
Tapestry, Inc. |
||||||||
4.13%, 7/15/2027 |
15,000 | 15,695 | ||||||
3.05%, 3/15/2032 |
596,000 | 567,777 | ||||||
|
|
|||||||
583,472 | ||||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
184 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Tobacco — 0.0% (d) |
| |||||||
Altria Group, Inc. |
||||||||
5.38%, 1/31/2044 |
21,000 | 21,969 | ||||||
4.00%, 2/4/2061 |
484,000 | 402,804 | ||||||
|
|
|||||||
424,773 | ||||||||
|
|
|||||||
Trading Companies & Distributors — 0.2% |
| |||||||
WW Grainger, Inc. |
||||||||
1.85%, 2/15/2025 |
836,000 | 829,226 | ||||||
4.60%, 6/15/2045 |
757,000 | 873,246 | ||||||
4.20%, 5/15/2047 |
212,000 | 235,636 | ||||||
|
|
|||||||
1,938,108 | ||||||||
|
|
|||||||
Wireless Telecommunication Services — 0.4% |
| |||||||
America Movil SAB de CV (Mexico) |
||||||||
3.63%, 4/22/2029 |
2,978,000 | 3,074,293 | ||||||
6.38%, 3/1/2035 |
119,000 | 154,067 | ||||||
4.38%, 4/22/2049 |
1,013,000 | 1,115,075 | ||||||
|
|
|||||||
4,343,435 | ||||||||
|
|
|||||||
Total
Corporate Bonds |
256,386,734 | |||||||
|
|
|||||||
Commercial Mortgage-Backed Securities — 1.9% |
| |||||||
Banc of America Commercial Mortgage Trust Series 2017-BNK3, Class A4, 3.57%, 2/15/2050 |
20,000 | 20,749 | ||||||
BANK |
||||||||
Series 2017-BNK4, Class ASB, 3.42%, 5/15/2050 |
30,000 | 30,705 | ||||||
Series 2019-BN16, Class A4, 4.01%, 2/15/2052 |
60,000 | 64,178 | ||||||
Series 2019-BN21, Class A5, 2.85%, 10/17/2052 |
60,000 | 59,946 | ||||||
Series 2019-BN23, Class A3, 2.92%, 12/15/2052 |
142,000 | 142,420 | ||||||
Series 2018-BN10, Class A5, 3.69%, 2/15/2061 |
20,000 | 20,961 | ||||||
Series 2018-BN10, Class AS, 3.90%, 2/15/2061 (g) |
180,000 | 185,880 | ||||||
Series 2019-BN19, Class A3, 3.18%, 8/15/2061 |
100,000 | 102,167 | ||||||
Series 2018-BN13, Class C, 4.57%, 8/15/2061 ‡ (g) |
500,000 | 516,684 | ||||||
Series 2019-BN22, Class A4, 2.98%, 11/15/2062 |
260,000 | 261,650 | ||||||
BBCMS Mortgage Trust Series 2018-C2, Class A5, 4.31%, 12/15/2051 |
40,000 | 43,435 | ||||||
Benchmark Mortgage Trust |
||||||||
Series 2018-B1, Class A5, 3.67%, 1/15/2051 (g) |
50,000 | 52,347 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Series 2018-B2, Class B, 4.20%, 2/15/2051 ‡ (g) |
20,000 | 20,976 | ||||||
Series 2018-B5, Class A4, 4.21%, 7/15/2051 |
110,000 | 118,999 | ||||||
Series 2018-B6, Class A2, 4.20%, 10/10/2051 |
37,779 | 38,664 | ||||||
Series 2018-B8, Class A5, 4.23%, 1/15/2052 |
40,000 | 43,378 | ||||||
Series 2019-B11, Class A2, 3.41%, 5/15/2052 |
300,000 | 306,074 | ||||||
Series 2020-B16, Class AM, 2.94%, 2/15/2053 ‡ (g) |
180,000 | 176,268 | ||||||
Series 2019-B13, Class A3, 2.70%, 8/15/2057 |
450,000 | 444,102 | ||||||
Cantor Commercial Real Estate Lending Series 2019-CF2, Class AS, 3.12%, 11/15/2052 |
75,000 | 74,429 | ||||||
CD Mortgage Trust |
||||||||
Series 2017-CD6, Class ASB, 3.33%, 11/13/2050 |
20,000 | 20,474 | ||||||
Series 2017-CD6, Class AM, 3.71%, 11/13/2050 (g) |
30,000 | 30,373 | ||||||
Series 2018-CD7, Class A3, 4.01%, 8/15/2051 |
400,000 | 421,900 | ||||||
CFCRE Commercial Mortgage Trust |
||||||||
Series 2017-C8, Class A4, REIT, 3.57%, 6/15/2050 |
30,000 | 30,863 | ||||||
Series 2016-C7, Class ASB, 3.64%, 12/10/2054 |
19,299 | 19,845 | ||||||
Citigroup Commercial Mortgage Trust |
||||||||
Series 2014-GC21, Class AAB, 3.48%, 5/10/2047 |
8,404 | 8,558 | ||||||
Series 2014-GC23, Class B, 4.17%, 7/10/2047 ‡ (g) |
30,000 | 30,842 | ||||||
Series 2015-GC29, Class C, 4.14%, 4/10/2048 ‡ (g) |
40,000 | 40,608 | ||||||
Series 2016-C1, Class AAB, 3.00%, 5/10/2049 |
83,409 | 84,728 | ||||||
Series 2019-GC43, Class A4, 3.04%, 11/10/2052 |
1,000,000 | 1,012,664 | ||||||
Commercial Mortgage Trust |
||||||||
Series 2013-CR9, Class A4, 4.25%, 7/10/2045 (g) |
120,000 | 122,383 | ||||||
Series 2013-CR6, Class A4, 3.10%, 3/10/2046 |
20,000 | 20,098 | ||||||
Series 2013-CR7, Class A4, 3.21%, 3/10/2046 |
10,995 | 11,100 | ||||||
Series 2013-CR13, Class B, 4.88%, 11/10/2046 ‡ (g) |
364,000 | 376,336 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 185 |
JPMorgan U.S. Aggregate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Commercial Mortgage-Backed Securities — continued |
| |||||||
Series 2014-UBS5, Class AM, 4.19%, 9/10/2047 (g) |
40,000 | 41,157 | ||||||
Series 2014-CR20, Class A3, 3.33%, 11/10/2047 |
40,728 | 41,259 | ||||||
Series 2014-UBS6, Class A4, 3.38%, 12/10/2047 |
131,998 | 134,142 | ||||||
Series 2015-LC19, Class A4, 3.18%, 2/10/2048 |
250,000 | 253,852 | ||||||
Series 2015-LC21, Class AM, 4.04%, 7/10/2048 (g) |
30,000 | 30,853 | ||||||
Series 2015-CR25, Class A4, 3.76%, 8/10/2048 |
30,000 | 31,031 | ||||||
Series 2015-PC1, Class A5, 3.90%, 7/10/2050 |
300,000 | 310,886 | ||||||
CSAIL Commercial Mortgage Trust |
||||||||
Series 2015-C3, Class A4, 3.72%, 8/15/2048 |
30,000 | 30,949 | ||||||
Series 2016-C5, Class A5, 3.76%, 11/15/2048 |
27,000 | 28,010 | ||||||
Series 2019-C15, Class A4, 4.05%, 3/15/2052 |
210,000 | 224,773 | ||||||
DBGS Mortgage Trust Series 2018-C1, Class A4, 4.47%, 10/15/2051 |
20,000 | 21,876 | ||||||
DBJPM Mortgage Trust Series 2017-C6, Class A5, 3.33%, 6/10/2050 |
20,000 | 20,549 | ||||||
FHLMC, Multi-Family Structured Pass-Through Certificates |
||||||||
Series K029, Class A2, 3.32%, 2/25/2023 (g) |
145,049 | 147,195 | ||||||
Series K036, Class A2, 3.53%, 10/25/2023 (g) |
162,000 | 165,792 | ||||||
Series K725, Class AM, 3.10%, 2/25/2024 (g) |
50,000 | 51,135 | ||||||
Series K728, Class A2, 3.06%, 8/25/2024 (g) |
49,370 | 50,717 | ||||||
Series K040, Class A2, 3.24%, 9/25/2024 |
70,000 | 72,176 | ||||||
Series K731, Class A2, 3.60%, 2/25/2025 (g) |
50,000 | 51,991 | ||||||
Series K733, Class A2, 3.75%, 8/25/2025 |
500,000 | 524,389 | ||||||
Series K051, Class A2, 3.31%, 9/25/2025 |
40,000 | 41,696 | ||||||
Series K734, Class A2, 3.21%, 2/25/2026 |
370,000 | 384,015 | ||||||
Series K735, Class A2, 2.86%, 5/25/2026 |
50,000 | 51,545 | ||||||
Series K057, Class A2, 2.57%, 7/25/2026 |
63,000 | 64,263 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Series K063, Class A1, 3.05%, 8/25/2026 |
39,387 | 40,461 | ||||||
Series K072, Class A2, 3.44%, 12/25/2027 |
400,000 | 427,389 | ||||||
Series K084, Class A2, 3.78%, 10/25/2028 (g) |
500,000 | 544,281 | ||||||
Series K096, Class A2, 2.52%, 7/25/2029 |
295,000 | 301,398 | ||||||
Series K099, Class A2, 2.60%, 9/25/2029 |
400,000 | 411,126 | ||||||
Series K100, Class A2, 2.67%, 9/25/2029 |
400,000 | 413,049 | ||||||
Series K102, Class A2, 2.54%, 10/25/2029 |
400,000 | 409,331 | ||||||
Series K159, Class A2, 3.95%, 11/25/2030 (g) |
400,000 | 443,951 | ||||||
Series K125, Class A2, 1.85%, 1/25/2031 |
300,000 | 289,258 | ||||||
Series K-1512, Class A2, 2.99%, 5/25/2031 |
75,000 | 78,767 | ||||||
Series K156, Class A3, 3.70%, 6/25/2033 (g) |
91,000 | 100,884 | ||||||
Series K-1512, Class A3, 3.06%, 4/25/2034 |
150,000 | 155,492 | ||||||
Series K-1513, Class A3, 2.80%, 8/25/2034 |
325,000 | 329,507 | ||||||
Series K-1514, Class A2, 2.86%, 10/25/2034 |
400,000 | 408,121 | ||||||
Series K-1518, Class A2, 1.86%, 10/25/2035 |
300,000 | 273,215 | ||||||
FNMA ACES |
||||||||
Series 2014-M2, Class A2, 3.51%, 12/25/2023 (g) |
22,560 | 23,089 | ||||||
Series 2014-M3, Class A2, 3.50%, 1/25/2024 (g) |
14,007 | 14,355 | ||||||
Series 2017-M10, Class AV2, 2.55%, 7/25/2024 (g) |
46,830 | 47,611 | ||||||
Series 2016-M6, Class A1, 2.14%, 5/25/2026 |
3,354 | 3,360 | ||||||
Series 2016-M11, Class A1, 2.08%, 7/25/2026 |
37,640 | 37,797 | ||||||
Series 2017-M1, Class A2, 2.42%, 10/25/2026 (g) |
168,492 | 170,703 | ||||||
Series 2017-M2, Class A2, 2.80%, 2/25/2027 (g) |
405,404 | 419,534 | ||||||
Series 2017-M7, Class A2, 2.96%, 2/25/2027 (g) |
325,698 | 335,995 | ||||||
Series 2017-M12, Class A2, 3.07%, 6/25/2027 (g) |
166,078 | 174,681 | ||||||
Series 2018-M10, Class A2, 3.36%, 7/25/2028 (g) |
40,000 | 43,021 |
SEE NOTES TO FINANCIAL STATEMENTS.
186 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Commercial Mortgage-Backed Securities — continued |
| |||||||
Series 2018-M14, Class A2, 3.58%, 8/25/2028 (g) |
450,000 | 489,305 | ||||||
Series 2019-M1, Class A2, 3.55%, 9/25/2028 (g) |
85,000 | 92,394 | ||||||
Series 2019-M22, Class A2, 2.52%, 8/25/2029 |
650,000 | 664,460 | ||||||
GS Mortgage Securities Trust |
||||||||
Series 2012-GCJ9, Class A3, 2.77%, 11/10/2045 |
77,671 | 78,022 | ||||||
Series 2014-GC24, Class AAB, 3.65%, 9/10/2047 |
12,506 | 12,751 | ||||||
Series 2014-GC24, Class AS, 4.16%, 9/10/2047 (g) |
170,000 | 173,897 | ||||||
Series 2015-GC28, Class A4, 3.14%, 2/10/2048 |
38,765 | 39,349 | ||||||
Series 2015-GC30, Class A4, 3.38%, 5/10/2050 |
25,000 | 25,549 | ||||||
Series 2018-GS9, Class A4, 3.99%, 3/10/2051 (g) |
200,000 | 212,483 | ||||||
Series 2019-GSA1, Class A4, 3.05%, 11/10/2052 |
260,000 | 261,854 | ||||||
JPMBB Commercial Mortgage Securities Trust |
||||||||
Series 2013-C12, Class C, 4.09%, 7/15/2045 ‡ (g) |
26,000 | 26,293 | ||||||
Series 2015-C29, Class B, 4.12%, 5/15/2048 ‡ (g) |
40,000 | 40,670 | ||||||
Series 2015-C31, Class A3, 3.80%, 8/15/2048 |
39,093 | 40,475 | ||||||
JPMDB Commercial Mortgage Securities Trust |
||||||||
Series 2016-C2, Class B, 3.99%, 6/15/2049 (g) |
20,000 | 19,689 | ||||||
Series 2017-C5, Class B, 4.01%, 3/15/2050 ‡ (g) |
20,000 | 19,946 | ||||||
JPMorgan Chase Commercial Mortgage Securities Trust |
||||||||
Series 2012-C8, Class A3, 2.83%, 10/15/2045 |
7,260 | 7,291 | ||||||
Series 2012-LC9, Class A5, 2.84%, 12/15/2047 |
15,583 | 15,689 | ||||||
Morgan Stanley Bank of America Merrill Lynch Trust |
||||||||
Series 2013-C9, Class A4, 3.10%, 5/15/2046 |
30,000 | 30,199 | ||||||
Series 2015-C22, Class AS, 3.56%, 4/15/2048 ‡ |
40,000 | 40,270 | ||||||
Series 2015-C25, Class ASB, 3.38%, 10/15/2048 |
38,181 | 38,871 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Series 2015-C25, Class A5, 3.64%, 10/15/2048 |
40,000 | 41,231 | ||||||
Series 2016-C31, Class A5, 3.10%, 11/15/2049 |
450,000 | 456,822 | ||||||
Series 2016-C32, Class A4, 3.72%, 12/15/2049 |
295,000 | 307,175 | ||||||
Morgan Stanley Capital I Trust |
||||||||
Series 2016-UB12, Class A3, 3.34%, 12/15/2049 |
540,925 | 550,501 | ||||||
Series 2017-H1, Class C, 4.28%, 6/15/2050 ‡ (g) |
25,000 | 25,149 | ||||||
Series 2019-L2, Class A4, 4.07%, 3/15/2052 |
50,000 | 53,947 | ||||||
Series 2019-L3, Class A4, 3.13%, 11/15/2052 |
100,000 | 101,837 | ||||||
UBS Commercial Mortgage Trust |
||||||||
Series 2017-C2, Class A4, 3.49%, 8/15/2050 |
700,000 | 720,554 | ||||||
Series 2017-C4, Class ASB, 3.37%, 10/15/2050 |
40,000 | 40,959 | ||||||
Series 2017-C5, Class AS, 3.78%, 11/15/2050 (g) |
70,000 | 71,540 | ||||||
Series 2017-C7, Class AS, 4.06%, 12/15/2050 (g) |
50,000 | 52,040 | ||||||
UBS-Barclays Commercial Mortgage Trust |
||||||||
Series 2013-C5, Class A4, 3.18%, 3/10/2046 |
40,000 | 40,206 | ||||||
Series 2012-C2, Class A4, 3.53%, 5/10/2063 |
16,905 | 16,916 | ||||||
Wells Fargo Commercial Mortgage Trust |
||||||||
Series 2013-LC12, Class A4, 4.22%, 7/15/2046 (g) |
300,000 | 306,136 | ||||||
Series 2015-C27, Class A4, 3.19%, 2/15/2048 |
31,468 | 31,901 | ||||||
Series 2015-C28, Class A4, 3.54%, 5/15/2048 |
20,000 | 20,514 | ||||||
Series 2015-C29, Class A4, 3.64%, 6/15/2048 |
120,000 | 123,541 | ||||||
Series 2018-C45, Class A3, 3.92%, 6/15/2051 |
42,740 | 45,180 | ||||||
Series 2019-C51, Class A3, 3.06%, 6/15/2052 |
500,000 | 505,109 | ||||||
Series 2019-C53, Class A4, 3.04%, 10/15/2052 |
125,000 | 126,269 | ||||||
Series 2020-C55, Class A5, 2.73%, 2/15/2053 |
240,000 | 236,840 | ||||||
WFRBS Commercial Mortgage Trust |
||||||||
Series 2012-C9, Class AS, 3.39%, 11/15/2045 |
60,000 | 60,470 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 187 |
JPMorgan U.S. Aggregate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Commercial Mortgage-Backed Securities — continued |
| |||||||
Series 2014-C22, Class A4, 3.49%, 9/15/2057 |
39,748 | 40,498 | ||||||
Series 2014-C22, Class A5, 3.75%, 9/15/2057 |
25,000 | 25,690 | ||||||
|
|
|||||||
Total
Commercial Mortgage-Backed Securities |
|
19,955,893 | ||||||
|
|
|||||||
Foreign Government Securities — 1.7% |
| |||||||
Canada Government Bond (Canada) |
||||||||
1.63%, 1/22/2025 |
985,000 | 983,657 | ||||||
0.75%, 5/19/2026 |
200,000 | 191,169 | ||||||
Export Development Canada (Canada) 2.63%, 2/21/2024 |
55,000 | 56,159 | ||||||
Export-Import Bank of Korea (South Korea) |
||||||||
0.38%, 2/9/2024 |
200,000 | 194,950 | ||||||
0.75%, 9/21/2025 |
215,000 | 205,292 | ||||||
Hungary Government Bond (Hungary) 5.38%, 2/21/2023 |
10,000 | 10,322 | ||||||
Italian Republic Government Bond (Italy) |
||||||||
1.25%, 2/17/2026 |
1,645,000 | 1,560,672 | ||||||
5.38%, 6/15/2033 |
427,000 | 503,927 | ||||||
Japan Bank for International Cooperation (Japan) |
||||||||
0.50%, 4/15/2024 |
200,000 | 195,196 | ||||||
3.00%, 5/29/2024 (b) |
201,000 | 206,906 | ||||||
2.50%, 5/28/2025 |
220,000 | 224,248 | ||||||
2.88%, 6/1/2027 |
202,000 | 210,267 | ||||||
2.88%, 7/21/2027 |
218,000 | 227,095 | ||||||
3.50%, 10/31/2028 |
650,000 | 709,140 | ||||||
Oriental Republic of Uruguay (Uruguay) |
||||||||
4.38%, 10/27/2027 |
80,000 | 86,497 | ||||||
5.10%, 6/18/2050 |
113,000 | 134,999 | ||||||
Province of Alberta (Canada) |
||||||||
3.35%, 11/1/2023 |
100,000 | 103,025 | ||||||
2.95%, 1/23/2024 |
50,000 | 51,268 | ||||||
1.00%, 5/20/2025 |
200,000 | 194,611 | ||||||
1.30%, 7/22/2030 |
160,000 | 148,587 | ||||||
Province of British Columbia (Canada) |
||||||||
1.75%, 9/27/2024 |
940,000 | 941,939 | ||||||
2.25%, 6/2/2026 |
299,000 | 302,956 | ||||||
0.90%, 7/20/2026 |
225,000 | 216,073 | ||||||
1.30%, 1/29/2031 (b) |
150,000 | 140,196 | ||||||
Province of Ontario (Canada) |
||||||||
3.40%, 10/17/2023 |
257,000 | 264,927 | ||||||
3.05%, 1/29/2024 |
155,000 | 159,333 | ||||||
2.50%, 4/27/2026 |
10,000 | 10,195 | ||||||
1.05%, 5/21/2027 |
10,000 | 9,523 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
2.00%, 10/2/2029 |
25,000 | 24,746 | ||||||
1.60%, 2/25/2031 |
240,000 | 228,045 | ||||||
Province of Quebec (Canada) |
||||||||
1.50%, 2/11/2025 |
415,000 | 411,887 | ||||||
0.60%, 7/23/2025 |
228,000 | 218,635 | ||||||
2.50%, 4/20/2026 |
122,000 | 124,562 | ||||||
1.35%, 5/28/2030 (b) |
326,000 | 306,345 | ||||||
Republic of Chile (Chile) 3.25%, 9/21/2071 |
300,000 | 242,579 | ||||||
Republic of Indonesia (Indonesia) 3.40%, 9/18/2029 |
200,000 | 207,189 | ||||||
Republic of Korea (South Korea) 1.75%, 10/15/2031 |
939,000 | 910,055 | ||||||
Republic of Panama (Panama) |
|
|||||||
7.13%, 1/29/2026 |
100,000 | 115,763 | ||||||
8.88%, 9/30/2027 |
33,000 | 42,789 | ||||||
9.38%, 4/1/2029 |
126,000 | 171,900 | ||||||
6.70%, 1/26/2036 |
75,000 | 92,439 | ||||||
4.50%, 5/15/2047 |
200,000 | 196,636 | ||||||
Republic of Peru (Peru) |
|
|||||||
2.39%, 1/23/2026 |
123,000 | 120,402 | ||||||
2.78%, 1/23/2031 |
131,000 | 124,222 | ||||||
1.86%, 12/1/2032 |
200,000 | 171,685 | ||||||
3.23%, 7/28/2121 |
848,000 | 631,306 | ||||||
Republic of Philippines (Philippines) |
|
|||||||
7.50%, 9/25/2024 |
250,000 | 268,772 | ||||||
9.50%, 2/2/2030 |
47,000 | 67,793 | ||||||
3.70%, 2/2/2042 |
320,000 | 308,697 | ||||||
2.95%, 5/5/2045 |
201,000 | 173,164 | ||||||
Republic of Poland (Poland) 3.25%, 4/6/2026 |
325,000 | 335,969 | ||||||
Svensk Exportkredit AB (Sweden) |
|
|||||||
1.75%, 12/12/2023 |
200,000 | 200,801 | ||||||
0.38%, 7/30/2024 |
464,000 | 450,397 | ||||||
United Mexican States (Mexico) |
|
|||||||
3.90%, 4/27/2025 |
452,000 | 473,861 | ||||||
4.50%, 4/22/2029 |
280,000 | 296,956 | ||||||
3.25%, 4/16/2030 (b) |
300,000 | 290,992 | ||||||
6.75%, 9/27/2034 |
265,000 | 326,914 | ||||||
5.55%, 1/21/2045 |
184,000 | 201,217 | ||||||
4.60%, 1/23/2046 |
200,000 | 192,448 | ||||||
5.75%, 10/12/2110 |
940,000 | 957,538 | ||||||
|
|
|||||||
Total
Foreign Government Securities |
17,129,833 | |||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
188 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
U.S. Government Agency Securities — 1.4% |
| |||||||
FFCB Funding Corp. |
|
|||||||
0.25%, 6/2/2022 |
33,000 | 32,981 | ||||||
1.85%, 8/5/2022 |
34,000 | 34,163 | ||||||
0.13%, 11/23/2022 |
448,000 | 445,696 | ||||||
0.57%, 7/2/2024 |
45,000 | 43,818 | ||||||
1.30%, 3/30/2027 |
820,000 | 790,695 | ||||||
FHLB |
|
|||||||
1.88%, 12/9/2022 |
10,000 | 10,074 | ||||||
3.00%, 12/9/2022 |
70,000 | 71,054 | ||||||
1.38%, 2/17/2023 |
1,135,000 | 1,137,610 | ||||||
2.13%, 3/10/2023 |
75,000 | 75,733 | ||||||
0.13%, 3/17/2023 |
100,000 | 98,973 | ||||||
3.38%, 12/8/2023 |
100,000 | 103,370 | ||||||
2.50%, 2/13/2024 |
770,000 | 785,273 | ||||||
1.50%, 8/15/2024 |
10,000 | 9,985 | ||||||
2.88%, 9/13/2024 |
130,000 | 133,876 | ||||||
2.75%, 12/13/2024 |
100,000 | 102,996 | ||||||
2.38%, 3/14/2025 |
35,000 | 35,710 | ||||||
3.25%, 11/16/2028 |
1,325,000 | 1,432,682 | ||||||
2.13%, 9/14/2029 |
100,000 | 100,395 | ||||||
5.63%, 3/14/2036 |
50,000 | 68,891 | ||||||
5.50%, 7/15/2036 |
35,000 | 48,370 | ||||||
FHLMC |
|
|||||||
0.38%, 4/20/2023 |
836,000 | 828,547 | ||||||
0.38%, 5/5/2023 |
600,000 | 594,110 | ||||||
2.75%, 6/19/2023 |
282,000 | 287,448 | ||||||
0.25%, 6/26/2023 |
210,000 | 207,160 | ||||||
0.25%, 8/24/2023 |
650,000 | 639,862 | ||||||
1.50%, 2/12/2025 |
379,000 | 377,228 | ||||||
0.38%, 7/21/2025 |
73,000 | 69,784 | ||||||
0.38%, 9/23/2025 |
10,000 | 9,522 | ||||||
2.66%, 12/14/2029 (h) |
80,000 | 67,729 | ||||||
6.25%, 7/15/2032 |
120,000 | 165,864 | ||||||
FNMA |
|
|||||||
0.25%, 7/10/2023 |
10,000 | 9,855 | ||||||
0.30%, 8/3/2023 |
1,022,000 | 1,006,612 | ||||||
2.88%, 9/12/2023 |
400,000 | 409,086 | ||||||
2.50%, 2/5/2024 |
161,000 | 164,123 | ||||||
1.63%, 10/15/2024 |
10,000 | 10,003 | ||||||
0.63%, 4/22/2025 |
120,000 | 116,045 | ||||||
0.50%, 6/17/2025 |
455,000 | 436,962 | ||||||
2.13%, 4/24/2026 |
175,000 | 177,362 | ||||||
1.88%, 9/24/2026 |
103,000 | 103,427 | ||||||
0.88%, 12/18/2026 |
60,000 | 56,834 | ||||||
0.75%, 10/8/2027 |
130,000 | 122,209 | ||||||
6.25%, 5/15/2029 |
310,000 | 398,533 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
7.13%, 1/15/2030 |
31,000 | 42,561 | ||||||
0.88%, 8/5/2030 |
1,080,000 | 979,371 | ||||||
6.63%, 11/15/2030 |
98,000 | 132,860 | ||||||
6.21%, 8/6/2038 |
45,000 | 68,339 | ||||||
Tennessee Valley Authority |
||||||||
0.75%, 5/15/2025 |
83,000 | 80,450 | ||||||
7.13%, 5/1/2030 |
166,000 | 227,628 | ||||||
1.50%, 9/15/2031 |
56,000 | 52,376 | ||||||
Series B, 4.70%, 7/15/2033 |
612,000 | 753,644 | ||||||
6.15%, 1/15/2038 |
35,000 | 50,957 | ||||||
3.50%, 12/15/2042 |
95,000 | 105,119 | ||||||
5.38%, 4/1/2056 |
39,000 | 59,571 | ||||||
|
|
|||||||
Total
U.S. Government Agency Securities |
14,373,526 | |||||||
|
|
|||||||
Supranational — 1.4% |
| |||||||
African Development Bank (Supranational) |
||||||||
0.75%, 4/3/2023 |
540,000 | 537,308 | ||||||
3.00%, 9/20/2023 |
44,000 | 45,077 | ||||||
0.88%, 3/23/2026 |
182,000 | 174,997 | ||||||
0.88%, 7/22/2026 |
100,000 | 96,168 | ||||||
Asian Development Bank (Supranational) |
||||||||
2.75%, 3/17/2023 |
64,000 | 65,058 | ||||||
0.63%, 4/29/2025 |
200,000 | 193,256 | ||||||
0.38%, 9/3/2025 |
1,045,000 | 995,112 | ||||||
0.50%, 2/4/2026 |
335,000 | 318,175 | ||||||
2.75%, 1/19/2028 |
27,000 | 28,260 | ||||||
3.13%, 9/26/2028 |
80,000 | 86,175 | ||||||
Asian Infrastructure Investment Bank (The) (Supranational) |
||||||||
2.25%, 5/16/2024 |
30,000 | 30,446 | ||||||
0.50%, 10/30/2024 |
45,000 | 43,682 | ||||||
0.50%, 5/28/2025 |
159,000 | 152,590 | ||||||
0.50%, 1/27/2026 |
400,000 | 379,350 | ||||||
Corp. Andina de Fomento (Supranational) |
||||||||
1.63%, 9/23/2025 |
478,000 | 466,991 | ||||||
2.25%, 2/8/2027 |
197,000 | 195,247 | ||||||
Council of Europe Development Bank (Supranational) |
||||||||
1.38%, 2/27/2025 |
291,000 | 288,336 | ||||||
0.88%, 9/22/2026 |
50,000 | 48,028 | ||||||
European Investment Bank (Supranational) |
||||||||
2.50%, 3/15/2023 |
458,000 | 464,457 | ||||||
0.25%, 9/15/2023 |
623,000 | 612,501 | ||||||
3.25%, 1/29/2024 |
161,000 | 166,366 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 189 |
JPMorgan U.S. Aggregate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Supranational — continued |
| |||||||
2.63%, 3/15/2024 |
10,000 | 10,226 | ||||||
1.88%, 2/10/2025 |
479,000 | 481,611 | ||||||
0.38%, 12/15/2025 (b) |
1,199,000 | 1,136,383 | ||||||
0.38%, 3/26/2026 |
2,892,000 | 2,730,240 | ||||||
Inter-American Development Bank (Supranational) |
||||||||
0.50%, 5/24/2023 |
500,000 | 495,548 | ||||||
0.88%, 4/3/2025 |
150,000 | 146,254 | ||||||
7.00%, 6/15/2025 |
91,000 | 105,889 | ||||||
0.63%, 7/15/2025 |
100,000 | 96,281 | ||||||
2.00%, 6/2/2026 |
481,000 | 483,861 | ||||||
1.13%, 7/20/2028 |
35,000 | 33,370 | ||||||
3.13%, 9/18/2028 |
109,000 | 117,183 | ||||||
3.88%, 10/28/2041 |
163,000 | 198,498 | ||||||
3.20%, 8/7/2042 |
15,000 | 16,634 | ||||||
4.38%, 1/24/2044 |
320,000 | 420,772 | ||||||
International Bank for Reconstruction & Development (Supranational) |
||||||||
2.50%, 3/19/2024 |
110,000 | 112,231 | ||||||
1.50%, 8/28/2024 |
237,000 | 236,590 | ||||||
1.63%, 1/15/2025 |
150,000 | 149,913 | ||||||
0.75%, 3/11/2025 |
492,000 | 478,552 | ||||||
0.63%, 4/22/2025 |
308,000 | 297,754 | ||||||
0.38%, 7/28/2025 |
459,000 | 438,038 | ||||||
2.50%, 7/29/2025 |
70,000 | 71,711 | ||||||
3.13%, 11/20/2025 |
70,000 | 73,338 | ||||||
1.38%, 4/20/2028 |
140,000 | 135,692 | ||||||
1.75%, 10/23/2029 |
173,000 | 170,851 | ||||||
4.75%, 2/15/2035 |
223,000 | 286,494 | ||||||
|
|
|||||||
Total
Supranational |
|
14,311,494 | ||||||
|
|
|||||||
Municipal Bonds — 0.6% (i) |
| |||||||
Arizona — 0.1% |
| |||||||
City of Tucson, Taxable Series 2021A, COP, AGM, 2.86%, 7/1/2047 |
515,000 | 486,210 | ||||||
|
|
|||||||
California — 0.3% |
| |||||||
Bay Area Toll Authority, Toll Bridge |
||||||||
Series 2010S-1, Rev., 6.92%, 4/1/2040 |
40,000 | 57,199 | ||||||
Series 2009F-2, Rev., 6.26%, 4/1/2049 |
100,000 | 151,159 | ||||||
California State University, Taxable Series 2021B, Rev., 2.72%, 11/1/2052 |
470,000 | 436,717 | ||||||
East Bay Municipal Utility District, Water System Series 2010B, Rev., 5.87%, 6/1/2040 |
155,000 | 211,180 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Series 2021B, Rev., 3.29%, 6/1/2042 |
455,000 | 448,413 | ||||||
Los Angeles Unified School District, Build America Bonds |
||||||||
GO, 5.75%, 7/1/2034 |
20,000 | 25,205 | ||||||
Series 2010RY, GO, 6.76%, 7/1/2034 |
105,000 | 141,016 | ||||||
Regents of the University of California Medical Center Pooled |
||||||||
Series H, Rev., 6.55%, 5/15/2048 |
40,000 | 58,397 | ||||||
Series 2020N, Rev., 3.71%, 5/15/2120 |
140,000 | 140,128 | ||||||
Santa Clara Valley Transportation Authority, Measure A Sales Tax Series 2010A, Rev., 5.88%, 4/1/2032 |
190,000 | 223,099 | ||||||
State of California, Various Purpose |
||||||||
GO, 7.50%, 4/1/2034 |
235,000 | 342,173 | ||||||
GO, 7.55%, 4/1/2039 |
400,000 | 622,317 | ||||||
GO, 7.60%, 11/1/2040 |
25,000 | 39,960 | ||||||
University of California, Taxable Series 2020BG, Rev., 1.61%, 5/15/2030 |
235,000 | 220,196 | ||||||
|
|
|||||||
Total California |
3,117,159 | |||||||
|
|
|||||||
Connecticut — 0.0% (d) |
| |||||||
State of Connecticut Series A, GO, 5.85%, 3/15/2032 |
75,000 | 93,577 | ||||||
|
|
|||||||
Illinois — 0.1% |
| |||||||
Chicago O’Hare International Airport, General Airport, Senior Lien Series 2018C, Rev., 4.47%, 1/1/2049 |
25,000 | 31,709 | ||||||
Metropolitan Water Reclamation District of Greater Chicago GO, 5.72%, 12/1/2038 |
55,000 | 72,805 | ||||||
Sales Tax Securitization Corp. Series 2019A, Rev., 4.64%, 1/1/2040 |
55,000 | 62,389 | ||||||
State of Illinois GO, 5.10%, 6/1/2033 |
410,000 | 451,901 | ||||||
|
|
|||||||
Total Illinois |
618,804 | |||||||
|
|
|||||||
Missouri — 0.0% (d) |
| |||||||
Health and Educational Facilities Authority of the State of Missouri, The Washington University Series 2017A, Rev., 3.65%, 8/15/2057 |
45,000 | 49,056 | ||||||
|
|
|||||||
Nebraska — 0.0% (d) |
| |||||||
University of Nebraska Facilities Corp., Taxable Series 2019A, Rev., 3.04%, 10/1/2049 |
50,000 | 49,870 | ||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
190 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Municipal Bonds — continued |
| |||||||
New Jersey — 0.1% |
| |||||||
New Jersey Economic Development Authority, Pension Funding Series 1997A, Rev., NATL-RE, 7.43%, 2/15/2029 |
35,000 | 42,708 | ||||||
New Jersey Transportation Trust Fund Authority, Transportation System Series 2010C, Rev., 5.75%, 12/15/2028 |
25,000 | 28,131 | ||||||
New Jersey Turnpike Authority Series F, Rev., 7.41%, 1/1/2040 |
250,000 | 384,457 | ||||||
|
|
|||||||
Total New Jersey |
455,296 | |||||||
|
|
|||||||
New York — 0.0% (d) |
| |||||||
City of New York, Fiscal Year 2010 Series A-2, GO, 5.21%, 10/1/2031 |
25,000 | 29,130 | ||||||
New York City Water and Sewer System, Second General Resolution, Fiscal Year 2010 Series GG, Rev., 5.72%, 6/15/2042 |
40,000 | 55,694 | ||||||
New York State Urban Development Corp., State Personal Income Tax Series 2009E, Rev., 5.77%, 3/15/2039 |
25,000 | 29,646 | ||||||
Port Authority of New York and New Jersey, Consolidated |
||||||||
Series 182, Rev., 5.31%, 8/1/2046 |
60,000 | 63,864 | ||||||
Series 192, Rev., 4.81%, 10/15/2065 |
120,000 | 153,593 | ||||||
|
|
|||||||
Total New York |
331,927 | |||||||
|
|
|||||||
Ohio — 0.0% (d) |
| |||||||
American Municipal Power, Inc., Combined Hydroelectric Projects Series 2010B, Rev., 7.83%, 2/15/2041 |
25,000 | 38,716 | ||||||
|
|
|||||||
Texas — 0.0% (d) |
| |||||||
City of Houston GO, 3.96%, 3/1/2047 |
40,000 | 44,473 | ||||||
Grand Parkway Transportation Corp., System Toll Series 2020B, Rev., 3.24%, 10/1/2052 |
100,000 | 95,177 | ||||||
Permanent University Fund — Texas A&M University System Series B, Rev., 3.66%, 7/1/2047 |
20,000 | 21,048 | ||||||
State of Texas, Transportation Commission Highway Improvement Series 2010A, GO, 4.68%, 4/1/2040 |
45,000 | 55,233 | ||||||
State of Texas, Transportation Commission Mobility Fund Series 2009A, GO, 5.52%, 4/1/2039 |
120,000 | 158,865 | ||||||
|
|
|||||||
Total Texas |
374,796 | |||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Virginia — 0.0% (d) |
| |||||||
University of Virginia, Federally Taxable Rev., 2.26%, 9/1/2050 |
390,000 | 327,532 | ||||||
|
|
|||||||
Total
Municipal Bonds |
|
5,942,943 | ||||||
|
|
|||||||
Asset-Backed Securities — 0.3% |
| |||||||
AmeriCredit Automobile Receivables Trust |
||||||||
Series 2018-1, Class C, 3.50%, 1/18/2024 |
9,106 | 9,160 | ||||||
Series 2021-1, Class A3, 0.37%, 8/18/2025 |
300,000 | 297,627 | ||||||
Capital One Multi-Asset Execution Trust |
||||||||
Series 2017-A6, Class A6, 2.29%, 7/15/2025 |
10,000 | 10,076 | ||||||
Series 2019-A3, Class A3, 2.06%, 8/15/2028 |
400,000 | 394,502 | ||||||
CarMax Auto Owner Trust |
||||||||
Series 2018-1, Class A4, 2.64%, 6/15/2023 |
6,879 | 6,883 | ||||||
Series 2019-3, Class A3, 2.18%, 8/15/2024 |
273,539 | 274,965 | ||||||
Citibank Credit Card Issuance Trust |
||||||||
Series 2018-A6, Class A6, 3.21%, 12/7/2024 |
50,000 | 50,822 | ||||||
Series 2018-A7, Class A7, 3.96%, 10/13/2030 |
100,000 | 110,816 | ||||||
Discover Card Execution Note Trust Series 2018-A1, Class A1, 3.03%, 8/15/2025 |
18,000 | 18,301 | ||||||
Ford Credit Auto Owner Trust Series 2019-B, Class A4, 2.24%, 10/15/2024 |
300,000 | 302,069 | ||||||
Ford Credit Floorplan Master Owner Trust A Series 2019-3, Class A1, 2.23%, 9/15/2024 |
75,000 | 75,458 | ||||||
GM Financial Automobile Leasing Trust Series 2020-3, Class A3, 0.45%, 8/21/2023 |
802,238 | 800,959 | ||||||
Honda Auto Receivables Owner Trust Series 2019-4, Class A3, 1.83%, 1/18/2024 |
281,154 | 282,243 | ||||||
Mercedes-Benz Auto Lease Trust Series 2020-A, Class A3, 1.84%, 12/15/2022 |
7,716 | 7,722 | ||||||
Santander Drive Auto Receivables Trust Series 2018-4, Class D, 3.98%, 12/15/2025 |
75,481 | 76,333 | ||||||
Synchrony Credit Card Master Note Trust Series 2018-2, Class A, 3.47%, 5/15/2026 |
50,000 | 51,181 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 191 |
JPMorgan U.S. Aggregate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Asset-Backed Securities — continued |
| |||||||
Toyota Auto Receivables Owner Trust Series 2019-D, Class A3, 1.92%, 1/16/2024 |
27,736 | 27,824 | ||||||
World Omni Select Auto Trust Series 2019-A, Class D, 2.59%, 12/15/2025 |
182,000 | 183,300 | ||||||
|
|
|||||||
Total
Asset-Backed Securities |
|
2,980,241 | ||||||
|
|
|||||||
SHARES | ||||||||
Short-Term Investments — 2.4% |
| |||||||
Investment Companies — 1.7% |
| |||||||
JPMorgan
U.S. Government Money Market Fund Class IM Shares, 0.03% (j)
(k) |
17,328,257 | 17,328,257 | ||||||
|
|
|||||||
Investment of Cash Collateral from Securities Loaned — 0.7% |
| |||||||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 0.10% (j) (k) |
6,496,049 | 6,493,451 | ||||||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 0.03% (j) (k) |
680,960 | 680,960 | ||||||
|
|
|||||||
Total
Investment of Cash Collateral from Securities Loaned |
|
7,174,411 | ||||||
|
|
|||||||
Total
Short-Term Investments |
24,502,668 | |||||||
|
|
|||||||
Total
Investments — 101.8% |
|
1,043,053,343 | ||||||
Liabilities
in Excess of |
|
(18,786,267) | ||||||
|
|
|||||||
NET ASSETS — 100.0% |
|
1,024,267,076 | ||||||
|
|
Percentages indicated are based on net assets.
Abbreviations
ACES |
Alternative Credit Enhancement Securities | |
AGM |
Insured by Assured Guaranty Municipal Corp. | |
COP |
Certificate of Participation | |
FFCB |
Federal Farm Credit Bank | |
FHLB |
Federal Home Loan Bank | |
FHLMC |
Federal Home Loan Mortgage Corp. | |
FNMA |
Federal National Mortgage Association | |
GNMA |
Government National Mortgage Association | |
GO |
General Obligation | |
ICE |
Intercontinental Exchange | |
LIBOR |
London Interbank Offered Rate | |
NATL |
Insured by National Public Finance Guarantee Corp. | |
RE |
Reinsured |
REIT |
Real Estate Investment Trust | |
Rev. |
Revenue | |
SOFR |
Secured Overnight Financing Rate | |
TBA |
To Be Announced; Security is subject to delayed delivery. | |
UMBS |
Uniform Mortgage-Backed Securities | |
USD |
United States Dollar | |
(a) |
All or a portion of the security is a when-issued security, delayed delivery security, or forward commitment. | |
(b) |
The security or a portion of this security is on loan at February 28, 2022. The total value of securities on loan at February 28, 2022 is $7,056,051. | |
(c) |
Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of February 28, 2022. | |
(d) |
Amount rounds to less than 0.1% of net assets. | |
(e) |
Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future contingent upon a predetermined trigger. The interest rate shown is the current rate as of February 28, 2022. | |
(f) |
Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. | |
(g) |
Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of February 28, 2022. | |
(h) |
The rate shown is the effective yield as of February 28, 2022. | |
(i) |
The date shown represents the earliest of the prerefunded date, next put date or final maturity date. | |
(j) |
Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(k) |
The rate shown is the current yield as of February 28, 2022. | |
‡ |
Value determined using significant unobservable inputs. |
SEE NOTES TO FINANCIAL STATEMENTS.
192 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
JPMorgan Ultra-Short Income ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — 54.3% |
| |||||||
Aerospace & Defense — 0.4% |
| |||||||
Boeing Co. (The) 4.51%, 5/1/2023 |
31,519,000 | 32,385,624 | ||||||
Leidos, Inc. 2.95%, 5/15/2023 (a) |
46,063,000 | 46,619,441 | ||||||
|
|
|||||||
79,005,065 | ||||||||
|
|
|||||||
Automobiles — 2.3% |
| |||||||
BMW US Capital LLC (Germany) |
||||||||
2.95%, 4/14/2022 (b) |
18,360,000 | 18,401,684 | ||||||
3.80%, 4/6/2023 (b) |
72,574,000 | 74,279,470 | ||||||
2.25%, 9/15/2023 (a) (b) |
18,130,000 | 18,274,390 | ||||||
(SOFRINDX + 0.53%), 0.58%, 4/1/2024 (b) (c) |
22,838,000 | 22,967,153 | ||||||
Daimler Finance North America LLC (Germany) |
||||||||
2.55%, 8/15/2022 (b) |
9,996,000 | 10,056,418 | ||||||
3.35%, 2/22/2023 (b) |
250,000 | 254,170 | ||||||
Hyundai Capital America |
||||||||
3.10%, 4/5/2022 (a) (b) |
2,303,000 | 2,306,247 | ||||||
2.85%, 11/1/2022 (a) (b) |
10,000,000 | 10,070,766 | ||||||
1.15%, 11/10/2022 (b) |
27,058,000 | 26,944,963 | ||||||
0.80%, 4/3/2023 (b) |
42,540,000 | 41,930,762 | ||||||
5.75%, 4/6/2023 (b) |
12,071,000 | 12,545,166 | ||||||
4.13%, 6/8/2023 (b) |
350,000 | 357,146 | ||||||
0.88%, 6/14/2024 (a) (b) |
30,000,000 | 28,820,074 | ||||||
Kia Corp. (South Korea) |
||||||||
3.00%, 4/25/2023 (b) |
8,970,000 | 9,081,407 | ||||||
1.00%, 4/16/2024 (b) |
12,580,000 | 12,261,726 | ||||||
Nissan Motor Acceptance Co. LLC 1.13%, 9/16/2024 (b) |
22,750,000 | 21,900,155 | ||||||
Volkswagen Group of America Finance LLC (Germany) |
||||||||
2.90%, 5/13/2022 (b) |
29,836,000 | 29,944,518 | ||||||
2.70%, 9/26/2022 (b) |
16,266,000 | 16,361,651 | ||||||
0.75%, 11/23/2022 (b) |
13,636,000 | 13,546,651 | ||||||
3.13%, 5/12/2023 (b) |
26,136,000 | 26,513,461 | ||||||
4.25%, 11/13/2023 (b) |
9,666,000 | 10,007,380 | ||||||
0.88%, 11/22/2023 (b) |
23,349,000 | 22,865,328 | ||||||
|
|
|||||||
429,690,686 | ||||||||
|
|
|||||||
Banks — 21.5% |
| |||||||
ANZ New Zealand Int’l Ltd. (New Zealand) 1.90%, 2/13/2023 (a) (b) |
3,630,000 | 3,647,958 | ||||||
ASB Bank Ltd. (New Zealand) |
||||||||
(ICE LIBOR USD 3 Month + 0.97%), 1.17%, 6/14/2023 (b) (c) |
1,441,000 | 1,454,478 | ||||||
3.75%, 6/14/2023 (b) |
7,575,000 | 7,773,326 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Banks — continued |
| |||||||
Australia & New Zealand Banking Group Ltd. (Australia) |
||||||||
2.63%, 5/19/2022 |
11,522,000 | 11,569,160 | ||||||
(ICE LIBOR USD 3 Month + 0.58%), 0.94%, 11/9/2022 (b) (c) |
15,400,000 | 15,450,946 | ||||||
2.63%, 11/9/2022 |
16,021,000 | 16,171,632 | ||||||
2.05%, 11/21/2022 |
12,527,000 | 12,601,023 | ||||||
Banco Santander SA (Spain) |
||||||||
3.50%, 4/11/2022 |
29,407,000 | 29,478,493 | ||||||
(ICE LIBOR USD 3 Month + 1.09%), 1.55%, 2/23/2023 (c) |
6,000,000 | 6,041,472 | ||||||
3.13%, 2/23/2023 |
65,090,000 | 65,643,514 | ||||||
(ICE LIBOR USD 3 Month + 1.12%), 1.36%, 4/12/2023 (c) |
4,000,000 | 4,028,090 | ||||||
3.85%, 4/12/2023 |
65,384,000 | 66,581,265 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.45%), 0.70%, 6/30/2024 (c) |
37,000,000 | 36,360,309 | ||||||
Bank of America Corp. |
||||||||
3.30%, 1/11/2023 |
1,907,000 | 1,939,048 | ||||||
(ICE LIBOR USD 3 Month + 0.93%), 2.82%, 7/21/2023 (c) |
2,515,000 | 2,528,003 | ||||||
4.10%, 7/24/2023 |
1,101,000 | 1,137,452 | ||||||
(ICE LIBOR USD 3 Month + 0.79%), 3.00%, 12/20/2023 (c) |
41,219,000 | 41,585,328 | ||||||
(SOFR + 0.41%), 0.52%, 6/14/2024 (c) |
49,982,000 | 49,073,242 | ||||||
(ICE LIBOR USD 3 Month + 0.97%), 3.46%, 3/15/2025 (c) |
2,392,000 | 2,437,903 | ||||||
(SOFR + 0.69%), 0.98%, 4/22/2025 (c) |
42,672,000 | 41,353,936 | ||||||
Bank of Montreal (Canada) |
||||||||
2.35%, 9/11/2022 (a) |
5,511,000 | 5,550,942 | ||||||
2.05%, 11/1/2022 (a) |
5,930,000 | 5,971,233 | ||||||
(SOFRINDX + 0.27%), 0.32%, 4/14/2023 (c) |
90,125,000 | 89,970,474 | ||||||
0.40%, 9/15/2023 (a) |
12,226,000 | 11,967,360 | ||||||
Bank of Nova Scotia (The) (Canada) |
||||||||
(ICE LIBOR USD 3 Month + 0.64%), 0.83%, 3/7/2022 (c) |
10,108,000 | 10,109,244 | ||||||
2.70%, 3/7/2022 |
11,850,000 | 11,853,203 | ||||||
2.45%, 9/19/2022 |
5,887,000 | 5,925,803 | ||||||
1.95%, 2/1/2023 |
16,309,000 | 16,356,942 | ||||||
1.63%, 5/1/2023 |
12,270,000 | 12,265,829 | ||||||
0.80%, 6/15/2023 |
5,025,000 | 4,968,207 | ||||||
(SOFR + 0.28%), 0.33%, 6/23/2023 (c) |
62,385,000 | 62,333,747 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 193 |
JPMorgan Ultra-Short Income ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Banks — continued |
| |||||||
Banque Federative du Credit Mutuel SA (France) |
||||||||
2.70%, 7/20/2022 (b) |
10,055,000 | 10,122,184 | ||||||
2.13%, 11/21/2022 (b) |
10,991,000 | 11,047,030 | ||||||
3.75%, 7/20/2023 (b) |
4,865,000 | 4,987,351 | ||||||
Barclays Bank plc (United Kingdom) 1.70%, 5/12/2022 |
23,728,000 | 23,748,515 | ||||||
Barclays plc (United Kingdom) |
||||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.80%), 1.01%, 12/10/2024 (c) |
29,647,000 | 28,894,567 | ||||||
BNP Paribas SA (France) |
||||||||
2.95%, 5/23/2022 (b) |
8,058,000 | 8,095,543 | ||||||
3.50%, 3/1/2023 (b) |
161,968,000 | 164,555,960 | ||||||
3.80%, 1/10/2024 (b) |
32,459,000 | 33,401,102 | ||||||
3.38%, 1/9/2025 (a) (b) |
17,041,000 | 17,375,924 | ||||||
BNZ International Funding Ltd. (New Zealand) |
||||||||
2.65%, 11/3/2022 (a) (b) |
4,855,000 | 4,900,321 | ||||||
3.38%, 3/1/2023 (b) |
13,260,000 | 13,500,018 | ||||||
Canadian Imperial Bank of Commerce (Canada) |
||||||||
2.55%, 6/16/2022 (a) |
740,000 | 743,800 | ||||||
(SOFR + 0.80%), 0.85%, 3/17/2023 (c) |
14,130,000 | 14,189,289 | ||||||
0.45%, 6/22/2023 |
63,961,000 | 62,874,938 | ||||||
0.95%, 6/23/2023 |
41,687,000 | 41,252,850 | ||||||
(ICE LIBOR USD 3 Month + 0.79%), 2.61%, 7/22/2023 (a) (c) |
12,898,000 | 12,946,227 | ||||||
(SOFRINDX + 0.40%), 0.45%, 12/14/2023 (a) (c) |
50,032,000 | 50,059,017 | ||||||
Capital One NA 2.15%, 9/6/2022 |
24,273,000 | 24,409,326 | ||||||
Citigroup, Inc. |
||||||||
3.38%, 3/1/2023 |
1,007,000 | 1,025,281 | ||||||
(ICE LIBOR USD 3 Month + 0.95%), 2.88%, 7/24/2023 (c) |
2,097,000 | 2,108,487 | ||||||
(SOFR + 1.67%), 1.68%, 5/15/2024 (c) |
500,000 | 499,106 | ||||||
(ICE LIBOR USD 3 Month + 1.02%), 4.04%, 6/1/2024 (c) |
1,937,000 | 1,986,841 | ||||||
Citizens Bank NA |
||||||||
2.65%, 5/26/2022 |
14,375,000 | 14,416,175 | ||||||
(ICE LIBOR USD 3 Month + 0.95%), 1.17%, 3/29/2023 (c) |
16,770,000 | 16,817,805 | ||||||
3.70%, 3/29/2023 |
2,947,000 | 3,004,928 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Banks — continued |
| |||||||
Commonwealth Bank of Australia (Australia) |
||||||||
(ICE LIBOR USD 3 Month + 0.70%), 0.90%, 3/10/2022 (b) (c) |
2,348,000 | 2,348,353 | ||||||
2.75%, 3/10/2022 (b) |
1,452,000 | 1,452,722 | ||||||
2.50%, 9/18/2022 (b) |
13,980,000 | 14,084,584 | ||||||
1.63%, 10/17/2022 (b) |
25,290,000 | 25,384,736 | ||||||
Cooperatieve Rabobank UA (Netherlands) |
||||||||
3.88%, 9/26/2023 (a) (b) |
6,490,000 | 6,691,122 | ||||||
(SOFRINDX + 0.30%), 0.35%, 1/12/2024 (c) |
62,834,000 | 62,889,621 | ||||||
Credit Agricole SA (France) 3.75%, 4/24/2023 (b) |
115,120,000 | 117,667,781 | ||||||
Credit Suisse Group Funding Guernsey Ltd. (Switzerland) 3.80%, 9/15/2022 |
64,064,000 | 64,894,230 | ||||||
DBS Group Holdings Ltd. (Singapore) 2.85%, 4/16/2022 (a) (b) |
44,859,000 | 44,925,840 | ||||||
DNB Bank ASA (Norway) 2.15%, 12/2/2022 (b) |
35,121,000 | 35,352,751 | ||||||
Federation des Caisses Desjardins du Quebec (Canada) |
||||||||
1.95%, 9/26/2022 (b) |
25,000,000 | 25,146,725 | ||||||
(SOFR + 0.43%), 0.48%, 5/21/2024 (b) (c) |
41,345,000 | 41,324,501 | ||||||
0.70%, 5/21/2024 (a) (b) |
26,044,000 | 25,198,896 | ||||||
Fifth Third Bancorp |
||||||||
2.60%, 6/15/2022 (a) |
34,876,000 | 34,987,461 | ||||||
1.63%, 5/5/2023 |
18,545,000 | 18,519,808 | ||||||
First Republic Bank (SOFR + 0.62%), 1.91%, 2/12/2024 (c) |
592,000 | 590,988 | ||||||
HSBC Holdings plc (United Kingdom) |
||||||||
(ICE LIBOR USD 3 Month + 1.06%), 3.26%, 3/13/2023 (c) |
87,422,000 | 87,467,522 | ||||||
3.60%, 5/25/2023 (a) |
12,181,000 | 12,463,984 | ||||||
(SOFR + 0.53%), 0.73%, 8/17/2024 (c) |
48,545,000 | 47,487,174 | ||||||
(SOFR + 0.71%), 0.98%, 5/24/2025 (c) |
59,681,000 | 57,686,352 | ||||||
Huntington National Bank (The) |
||||||||
3.13%, 4/1/2022 |
2,128,000 | 2,128,000 | ||||||
2.50%, 8/7/2022 |
16,029,000 | 16,114,403 | ||||||
1.80%, 2/3/2023 |
500,000 | 500,147 | ||||||
ING Groep NV (Netherlands) |
||||||||
(ICE LIBOR USD 3 Month + 1.15%), 1.37%, 3/29/2022 (c) |
28,625,000 | 28,645,557 |
SEE NOTES TO FINANCIAL STATEMENTS.
194 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Banks — continued |
| |||||||
3.15%, 3/29/2022 |
58,170,000 | 58,276,044 | ||||||
4.10%, 10/2/2023 |
3,730,000 | 3,851,747 | ||||||
Intesa Sanpaolo SpA (Italy) 3.13%, 7/14/2022 (b) |
91,015,000 | 91,483,154 | ||||||
KeyBank NA |
||||||||
2.40%, 6/9/2022 |
965,000 | 969,194 | ||||||
2.30%, 9/14/2022 |
5,119,000 | 5,154,672 | ||||||
1.25%, 3/10/2023 |
500,000 | 498,769 | ||||||
(SOFR + 0.32%), 0.43%, 6/14/2024 (c) |
68,003,000 | 66,751,164 | ||||||
Lloyds Banking Group plc (United Kingdom) |
||||||||
(ICE LIBOR USD 3 Month + 1.25%), 2.86%, 3/17/2023 (c) |
78,163,000 | 78,207,629 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 1.33%, 6/15/2023 (c) |
15,176,000 | 15,157,022 | ||||||
4.05%, 8/16/2023 (a) |
27,349,000 | 28,177,357 | ||||||
(ICE LIBOR USD 3 Month + 0.81%), 2.91%, 11/7/2023 (c) |
3,334,000 | 3,357,480 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.55%), 0.70%, 5/11/2024 (c) |
45,000,000 | 44,290,066 | ||||||
Mitsubishi UFJ Financial Group, Inc. (Japan) |
||||||||
(ICE LIBOR USD 3 Month + 0.70%), 0.89%, 3/7/2022 (c) |
22,890,000 | 22,891,781 | ||||||
3.22%, 3/7/2022 |
3,842,000 | 3,843,351 | ||||||
2.62%, 7/18/2022 |
24,117,000 | 24,267,437 | ||||||
2.67%, 7/25/2022 |
72,439,000 | 72,913,087 | ||||||
3.46%, 3/2/2023 |
351,000 | 357,405 | ||||||
(ICE LIBOR USD 3 Month + 0.86%), 1.13%, 7/26/2023 (c) |
1,594,000 | 1,606,613 | ||||||
3.76%, 7/26/2023 |
2,493,000 | 2,559,828 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.45%), 0.96%, 10/11/2025 (c) |
33,780,000 | 32,533,999 | ||||||
Mizuho Financial Group, Inc. (Japan) |
||||||||
2.60%, 9/11/2022 |
17,086,000 | 17,221,966 | ||||||
3.55%, 3/5/2023 |
3,942,000 | 4,022,052 | ||||||
(ICE LIBOR USD 3 Month + 0.84%), 1.08%, 7/16/2023 (c) |
9,601,000 | 9,619,629 | ||||||
(ICE LIBOR USD 3 Month + 0.84%), 2.72%, 7/16/2023 (c) |
4,363,000 | 4,381,606 | ||||||
(ICE LIBOR USD 3 Month + 0.85%), 1.05%, 9/13/2023 (a) (c) |
107,214,000 | 107,522,059 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Banks — continued |
| |||||||
(ICE LIBOR USD 3 Month + 0.63%), 1.13%, 5/25/2024 (c) |
10,000,000 | 10,025,071 | ||||||
(SOFR + 1.25%), 1.24%, 7/10/2024 (c) |
15,000,000 | 14,826,106 | ||||||
(SOFR + 0.87%), 0.85%, 9/8/2024 (c) |
29,700,000 | 29,096,638 | ||||||
(ICE LIBOR USD 3 Month + 1.00%), 3.92%, 9/11/2024 (c) |
8,066,000 | 8,281,799 | ||||||
MUFG Bank Ltd. (Japan) 4.10%, 9/9/2023 (b) |
200,000 | 206,561 | ||||||
MUFG Union Bank NA |
||||||||
3.15%, 4/1/2022 |
1,220,000 | 1,220,000 | ||||||
(SOFR + 0.71%), 0.76%, 12/9/2022 (c) |
24,750,000 | 24,848,494 | ||||||
National Australia Bank Ltd. (Australia) |
||||||||
2.50%, 5/22/2022 |
8,967,000 | 9,002,600 | ||||||
(ICE LIBOR USD 3 Month + 0.41%), 0.61%, 12/13/2022 (b) (c) |
3,563,000 | 3,570,411 | ||||||
3.00%, 1/20/2023 (a) |
5,600,000 | 5,687,276 | ||||||
2.88%, 4/12/2023 (a) |
3,345,000 | 3,392,977 | ||||||
National Bank of Canada (Canada) |
||||||||
2.15%, 10/7/2022 (a) (b) |
30,876,000 | 31,029,660 | ||||||
2.10%, 2/1/2023 |
68,667,000 | 68,911,094 | ||||||
(SOFR + 0.30%), 0.35%, 5/16/2023 (a) (c) |
46,819,000 | 46,739,257 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.77%), 0.90%, 8/15/2023 (c) |
17,036,000 | 16,981,961 | ||||||
NatWest Group plc (United Kingdom) |
||||||||
(ICE LIBOR USD 3 Month + 1.47%), 1.98%, 5/15/2023 (c) |
83,064,000 | 83,190,390 | ||||||
(ICE LIBOR USD 3 Month + 1.48%), 3.50%, 5/15/2023 (c) |
9,400,000 | 9,431,758 | ||||||
3.88%, 9/12/2023 |
40,000,000 | 40,967,124 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.15%), 2.36%, 5/22/2024 (c) |
133,000 | 133,312 | ||||||
(ICE LIBOR USD 3 Month + 1.76%), 4.27%, 3/22/2025 (c) |
10,045,000 | 10,387,110 | ||||||
NatWest Markets plc (United Kingdom) |
||||||||
3.63%, 9/29/2022 (b) |
25,670,000 | 26,027,175 | ||||||
2.38%, 5/21/2023 (b) |
12,650,000 | 12,735,539 | ||||||
(SOFR + 0.53%), 0.58%, 8/12/2024 (b) (c) |
20,000,000 | 20,009,974 | ||||||
Nordea Bank Abp (Finland) |
||||||||
1.00%, 6/9/2023 (b) |
17,512,000 | 17,376,326 | ||||||
3.75%, 8/30/2023 (b) |
1,534,000 | 1,574,230 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 195 |
JPMorgan Ultra-Short Income ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Banks — continued |
| |||||||
PNC Bank NA 3.50%, 6/8/2023 |
3,000,000 | 3,061,450 | ||||||
PNC Financial Services Group, Inc. (The) 2.85%, 11/9/2022 (d) |
1,465,000 | 1,481,260 | ||||||
Royal Bank of Canada (Canada) |
||||||||
1.95%, 1/17/2023 |
479,000 | 481,373 | ||||||
1.60%, 4/17/2023 (a) |
26,338,000 | 26,366,125 | ||||||
(SOFRINDX + 0.45%), 0.50%, 10/26/2023 (c) |
62,070,000 | 62,086,884 | ||||||
Santander UK plc (United Kingdom) 2.10%, 1/13/2023 |
21,152,000 | 21,276,756 | ||||||
Skandinaviska Enskilda Banken AB (Sweden) |
||||||||
3.05%, 3/25/2022 (b) |
13,760,000 | 13,773,898 | ||||||
2.20%, 12/12/2022 (b) |
10,957,000 | 11,032,100 | ||||||
Societe Generale SA (France) |
||||||||
4.25%, 9/14/2023 (b) |
16,840,000 | 17,333,980 | ||||||
3.88%, 3/28/2024 (b) |
15,819,000 | 16,220,152 | ||||||
2.63%, 10/16/2024 (b) |
20,595,000 | 20,506,962 | ||||||
2.63%, 1/22/2025 (a) (b) |
5,000,000 | 4,954,510 | ||||||
Standard Chartered plc (United Kingdom) |
||||||||
(SOFR + 1.25%), 1.30%, 10/14/2023 (b) (c) |
21,479,000 | 21,576,944 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.17%), 1.32%, 10/14/2023 (b) (c) |
16,742,000 | 16,664,247 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.78%), 0.99%, 1/12/2025 (b) (c) |
10,000,000 | 9,696,176 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.88%), 1.21%, 3/23/2025 (b) (c) |
12,000,000 | 11,682,633 | ||||||
Sumitomo Mitsui Banking Corp. (Japan) 3.20%, 7/18/2022 |
24,653,000 | 24,851,298 | ||||||
Sumitomo Mitsui Financial Group, Inc. (Japan) |
||||||||
2.78%, 7/12/2022 |
48,571,000 | 48,879,059 | ||||||
2.78%, 10/18/2022 |
8,447,000 | 8,535,585 | ||||||
3.10%, 1/17/2023 |
4,919,000 | 4,987,754 | ||||||
Sumitomo Mitsui Trust Bank Ltd. (Japan) (SOFR + 0.44%), 0.49%, 9/16/2024 (b) (c) |
33,827,000 | 33,747,254 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Banks — continued |
| |||||||
Toronto-Dominion Bank (The) (Canada) |
||||||||
1.90%, 12/1/2022 |
3,189,000 | 3,208,742 | ||||||
0.25%, 1/6/2023 |
63,084,000 | 62,563,920 | ||||||
(SOFR + 0.24%), 0.29%, 1/6/2023 (c) |
73,141,000 | 73,147,317 | ||||||
(SOFR + 0.48%), 0.53%, 1/27/2023 (c) |
29,380,000 | 29,436,238 | ||||||
(SOFR + 0.22%), 0.27%, 6/2/2023 (c) |
84,848,000 | 84,697,598 | ||||||
0.30%, 6/2/2023 (a) |
2,115,000 | 2,080,583 | ||||||
0.75%, 6/12/2023 |
41,625,000 | 41,186,940 | ||||||
0.45%, 9/11/2023 |
48,000 | 47,124 | ||||||
Truist Bank (SOFR + 0.20%), 0.25%, 1/17/2024 (c) |
66,448,000 | 66,365,724 | ||||||
Truist Financial Corp. |
||||||||
3.05%, 6/20/2022 |
17,689,000 | 17,769,053 | ||||||
2.20%, 3/16/2023 |
2,946,000 | 2,962,280 | ||||||
US Bank NA 2.65%, 5/23/2022 |
2,081,000 | 2,086,895 | ||||||
Wells Fargo & Co. |
||||||||
(SOFR + 1.60%), 1.65%, 6/2/2024 (c) |
24,600,000 | 24,514,629 | ||||||
(SOFR + 0.51%), 0.80%, 5/19/2025 (c) |
19,800,000 | 19,161,524 | ||||||
Westpac Banking Corp. (Australia) |
||||||||
2.50%, 6/28/2022 |
8,763,000 | 8,810,326 | ||||||
2.75%, 1/11/2023 |
11,857,000 | 12,010,990 | ||||||
2.00%, 1/13/2023 |
1,140,000 | 1,147,343 | ||||||
|
|
|||||||
4,021,006,985 | ||||||||
|
|
|||||||
Beverages — 0.7% |
| |||||||
Coca-Cola Europacific Partners plc (United Kingdom) 0.50%, 5/5/2023 (b) |
54,995,000 | 54,126,511 | ||||||
Heineken NV (Netherlands) 2.75%, 4/1/2023 (b) |
6,250,000 | 6,316,833 | ||||||
Keurig Dr Pepper, Inc. |
||||||||
4.06%, 5/25/2023 |
3,164,000 | 3,247,866 | ||||||
0.75%, 3/15/2024 |
56,488,000 | 55,085,197 | ||||||
Suntory Holdings Ltd. (Japan) 2.55%, 6/28/2022 (b) |
2,000,000 | 2,003,189 | ||||||
|
|
|||||||
120,779,596 | ||||||||
|
|
|||||||
Biotechnology — 0.9% |
| |||||||
AbbVie, Inc. |
||||||||
3.25%, 10/1/2022 |
10,451,000 | 10,520,608 | ||||||
2.90%, 11/6/2022 |
35,000,000 | 35,346,514 |
SEE NOTES TO FINANCIAL STATEMENTS.
196 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Biotechnology — continued |
| |||||||
2.30%, 11/21/2022 |
89,162,000 | 89,711,734 | ||||||
Biogen, Inc. 3.63%, 9/15/2022 |
5,311,000 | 5,374,168 | ||||||
Gilead Sciences, Inc. 3.25%, 9/1/2022 |
22,641,000 | 22,822,857 | ||||||
|
|
|||||||
163,775,881 | ||||||||
|
|
|||||||
Building Products — 0.0% (e) |
| |||||||
Carlisle Cos., Inc. 0.55%, 9/1/2023 |
2,027,000 | 1,986,726 | ||||||
|
|
|||||||
Capital Markets — 5.3% |
| |||||||
Bank of New York Mellon Corp. (The) |
||||||||
1.85%, 1/27/2023 |
1,210,000 | 1,217,096 | ||||||
2.95%, 1/29/2023 |
396,000 | 401,039 | ||||||
3.50%, 4/28/2023 |
818,000 | 836,281 | ||||||
(ICE LIBOR USD 3 Month + 0.63%), 2.66%, 5/16/2023 (c) |
5,401,000 | 5,413,238 | ||||||
Charles Schwab Corp. (The) |
||||||||
3.23%, 9/1/2022 (a) |
300,000 | 303,073 | ||||||
2.65%, 1/25/2023 |
3,499,000 | 3,537,322 | ||||||
(SOFRINDX + 0.50%), 0.55%, 3/18/2024 (c) |
1,642,000 | 1,644,542 | ||||||
Credit Suisse AG (Switzerland) |
||||||||
2.80%, 4/8/2022 (a) |
67,624,000 | 67,776,794 | ||||||
1.00%, 5/5/2023 |
8,715,000 | 8,648,586 | ||||||
Series FXD, 0.52%, 8/9/2023 |
50,000,000 | 49,070,954 | ||||||
(SOFRINDX + 0.39%), 0.44%, 2/2/2024 (c) |
40,999,000 | 40,952,981 | ||||||
Daiwa Securities Group, Inc. (Japan) |
||||||||
3.13%, 4/19/2022 (b) |
2,583,000 | 2,590,147 | ||||||
Goldman Sachs Group, Inc. (The) |
||||||||
0.52%, 3/8/2023 |
32,717,000 | 32,487,408 | ||||||
(ICE LIBOR USD 3 Month + 1.05%), 1.23%, 6/5/2023 (c) |
9,896,000 | 9,912,894 | ||||||
(ICE LIBOR USD 3 Month + 1.05%), 2.91%, 6/5/2023 (c) |
14,839,000 | 14,897,370 | ||||||
(ICE LIBOR USD 3 Month + 1.00%), 1.26%, 7/24/2023 (c) |
1,343,000 | 1,345,952 | ||||||
(ICE LIBOR USD 3 Month + 0.99%), 2.90%, 7/24/2023 (c) |
40,333,000 | 40,542,020 | ||||||
Series VAR, (SOFR + 0.54%), 0.63%, 11/17/2023 (c) |
33,389,000 | 33,113,850 | ||||||
(SOFR + 0.57%), 0.67%, 3/8/2024 (c) |
77,500,000 | 76,488,786 | ||||||
Intercontinental Exchange, Inc. 2.35%, 9/15/2022 (a) |
2,115,000 | 2,128,452 | ||||||
Macquarie Bank Ltd. (Australia) |
||||||||
2.10%, 10/17/2022 (b) |
4,920,000 | 4,946,164 | ||||||
0.44%, 12/16/2022 (b) |
85,955,000 | 85,463,021 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Capital Markets — continued |
| |||||||
(SOFR + 0.30%), 0.35%, 4/6/2023 (b) (c) |
140,000,000 | 139,396,795 | ||||||
Moody’s Corp. 2.63%, 1/15/2023 (a) |
1,188,000 | 1,198,341 | ||||||
Morgan Stanley |
||||||||
2.75%, 5/19/2022 |
36,682,000 | 36,827,015 | ||||||
3.13%, 1/23/2023 |
35,056,000 | 35,556,818 | ||||||
3.75%, 2/25/2023 |
5,500,000 | 5,604,796 | ||||||
(SOFR + 0.47%), 0.56%, 11/10/2023 (c) |
21,754,000 | 21,583,960 | ||||||
(SOFR + 0.46%), 0.53%, 1/25/2024 (c) |
8,363,000 | 8,265,424 | ||||||
(SOFR + 0.62%), 0.73%, 4/5/2024 (c) |
38,073,000 | 37,546,540 | ||||||
(SOFR + 0.53%), 0.79%, 5/30/2025 (c) |
25,000,000 | 24,105,335 | ||||||
State Street Corp. (SOFR + 2.69%), 2.82%, 3/30/2023 (c) |
15,059,000 | 15,072,229 | ||||||
UBS AG (Switzerland) |
||||||||
0.38%, 6/1/2023 (b) |
36,814,000 | 36,258,748 | ||||||
(SOFR + 0.36%), 0.41%, 2/9/2024 (b) (c) |
23,894,000 | 23,851,291 | ||||||
(SOFR + 0.45%), 0.50%, 8/9/2024 (b) (c) |
30,423,000 | 30,384,447 | ||||||
UBS Group AG (Switzerland) |
||||||||
(ICE LIBOR USD 3 Month + 1.22%), 1.70%, 5/23/2023 (b) (c) |
5,805,000 | 5,820,466 | ||||||
3.49%, 5/23/2023 (b) |
290,000 | 291,274 | ||||||
(ICE LIBOR USD 3 Month + 0.95%), 2.86%, 8/15/2023 (b) (c) |
37,834,000 | 38,074,407 | ||||||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.83%), 1.01%, 7/30/2024 (a) (b) (c) |
36,500,000 | 35,979,407 | ||||||
|
|
|||||||
979,535,263 | ||||||||
|
|
|||||||
Chemicals — 0.3% |
| |||||||
Chevron Phillips Chemical Co. LLC 3.30%, 5/1/2023 (b) |
4,703,000 | 4,787,245 | ||||||
International Flavors & Fragrances, Inc. 0.70%, 9/15/2022 (b) |
15,000,000 | 14,951,332 | ||||||
Nutrien Ltd. (Canada) 1.90%, 5/13/2023 |
22,880,000 | 22,915,407 | ||||||
Westlake Corp. 0.88%, 8/15/2024 (a) |
4,583,000 | 4,442,581 | ||||||
|
|
|||||||
47,096,565 | ||||||||
|
|
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 197 |
JPMorgan Ultra-Short Income ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Construction Materials — 0.1% |
| |||||||
Martin Marietta Materials, Inc. 0.65%, 7/15/2023 |
16,655,000 | 16,392,979 | ||||||
|
|
|||||||
Consumer Finance — 3.9% |
| |||||||
AerCap Ireland Capital DAC (Ireland) |
||||||||
4.13%, 7/3/2023 |
20,510,000 | 20,967,996 | ||||||
1.15%, 10/29/2023 |
57,979,000 | 56,636,001 | ||||||
American Express Co. |
||||||||
2.75%, 5/20/2022 |
9,713,000 | 9,736,694 | ||||||
2.50%, 8/1/2022 |
8,699,000 | 8,743,644 | ||||||
2.65%, 12/2/2022 |
885,000 | 894,738 | ||||||
3.40%, 2/27/2023 |
5,495,000 | 5,577,881 | ||||||
3.70%, 8/3/2023 |
3,130,000 | 3,211,509 | ||||||
American Honda Finance Corp. |
||||||||
(ICE LIBOR USD 3 Month + 0.15%), 0.63%, 2/22/2023 (a) (c) |
99,001,000 | 99,055,806 | ||||||
0.35%, 4/20/2023 |
10,431,000 | 10,266,722 | ||||||
1.95%, 5/10/2023 |
14,869,000 | 14,939,595 | ||||||
0.88%, 7/7/2023 |
9,506,000 | 9,414,814 | ||||||
Avolon Holdings Funding Ltd. (Ireland) 3.63%, 5/1/2022 (b) |
42,290,000 | 42,365,389 | ||||||
Capital One Financial Corp. |
||||||||
(ICE LIBOR USD 3 Month + 0.72%), 1.02%, 1/30/2023 (c) |
420,000 | 421,057 | ||||||
2.60%, 5/11/2023 |
69,720,000 | 70,306,851 | ||||||
Caterpillar Financial Services Corp. |
||||||||
1.95%, 11/18/2022 |
7,500,000 | 7,541,175 | ||||||
2.55%, 11/29/2022 |
9,656,000 | 9,759,795 | ||||||
3.45%, 5/15/2023 |
590,000 | 604,761 | ||||||
General Motors Financial Co., Inc. |
||||||||
(SOFR + 1.20%), 1.25%, 11/17/2023 (c) |
23,000,000 | 23,215,399 | ||||||
1.05%, 3/8/2024 |
18,436,000 | 17,963,420 | ||||||
Hyundai Capital Services, Inc. (South Korea) 0.75%, 9/15/2023 (b) |
13,658,000 | 13,326,111 | ||||||
John Deere Capital Corp. |
||||||||
(ICE LIBOR USD 3 Month + 0.38%), 0.57%, 3/7/2022 (c) |
145,000 | 145,006 | ||||||
2.75%, 3/15/2022 |
1,000,000 | 1,000,663 | ||||||
2.80%, 1/27/2023 |
573,000 | 580,017 | ||||||
(SOFR + 0.12%), 0.17%, 7/10/2023 (a) (c) |
57,027,000 | 57,009,711 | ||||||
Toyota Motor Credit Corp. |
||||||||
0.45%, 7/22/2022 (a) |
4,299,000 | 4,289,987 | ||||||
0.35%, 10/14/2022 |
30,417,000 | 30,281,264 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Consumer Finance — continued |
| |||||||
(SOFR + 0.20%), 0.25%, 2/13/2023 (a) (c) |
74,615,000 | 74,530,961 | ||||||
0.40%, 4/6/2023 |
68,327,000 | 67,565,762 | ||||||
(SOFRINDX + 0.33%), 0.38%, 1/11/2024 (c) |
61,779,000 | 61,813,958 | ||||||
|
|
|||||||
722,166,687 | ||||||||
|
|
|||||||
Diversified Financial Services — 1.7% |
| |||||||
AIG Global Funding |
||||||||
2.30%, 7/1/2022 (b) |
2,125,000 | 2,131,648 | ||||||
0.80%, 7/7/2023 (b) |
8,310,000 | 8,206,427 | ||||||
0.40%, 9/13/2023 (b) |
54,067,000 | 52,842,908 | ||||||
(SOFR + 0.38%), 0.43%, 12/15/2023 (a) (b) (c) |
48,943,000 | 48,963,130 | ||||||
Citigroup Global Markets Holdings, Inc. 0.75%, 6/7/2024 |
33,597,000 | 32,689,184 | ||||||
CK Hutchison International 17 Ltd. (United Kingdom) 2.88%, 4/5/2022 (b) |
3,245,000 | 3,248,570 | ||||||
Element Fleet Management Corp. (Canada) 1.60%, 4/6/2024 (b) |
9,954,000 | 9,786,574 | ||||||
National Rural Utilities Cooperative Finance Corp. |
||||||||
2.30%, 9/15/2022 |
2,070,000 | 2,082,747 | ||||||
Series D, (ICE LIBOR USD 3 Month + 0.07%), 0.52%, 2/16/2023 (c) |
65,911,000 | 65,687,649 | ||||||
(SOFR + 0.40%), 0.45%, 8/7/2023 (c) |
11,905,000 | 11,926,000 | ||||||
NTT Finance Corp. (Japan) 0.37%, 3/3/2023 (b) |
40,004,000 | 39,577,367 | ||||||
ORIX Corp. (Japan) 2.90%, 7/18/2022 (a) |
147,000 | 148,082 | ||||||
Siemens Financieringsmaatschappij NV (Germany) |
||||||||
(ICE LIBOR USD 3 Month + 0.61%), 0.82%, 3/16/2022 (b) (c) |
1,227,000 | 1,227,256 | ||||||
0.40%, 3/11/2023 (b) |
14,889,000 | 14,708,962 | ||||||
(SOFR + 0.43%), 0.48%, 3/11/2024 (b) (c) |
23,914,000 | 23,956,772 | ||||||
|
|
|||||||
317,183,276 | ||||||||
|
|
|||||||
Diversified Telecommunication Services — 0.4% |
| |||||||
AT&T, Inc. |
||||||||
2.63%, 12/1/2022 |
2,551,000 | 2,568,089 | ||||||
(SOFRINDX + 0.64%), 0.69%, 3/25/2024 (c) |
24,755,000 | 24,759,233 | ||||||
Deutsche Telekom International Finance BV (Germany) 2.49%, 9/19/2023 (b) |
15,070,000 | 15,193,621 |
SEE NOTES TO FINANCIAL STATEMENTS.
198 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Diversified Telecommunication Services — continued |
| |||||||
Verizon Communications, Inc. (ICE LIBOR USD 3 Month + 1.00%), 1.21%, 3/16/2022 (c) |
28,319,000 | 28,329,228 | ||||||
|
|
|||||||
70,850,171 | ||||||||
|
|
|||||||
Electric Utilities — 1.4% |
| |||||||
American Electric Power Co., Inc. Series M, 0.75%, 11/1/2023 |
9,684,000 | 9,482,446 | ||||||
Duke Energy Corp. |
||||||||
2.40%, 8/15/2022 |
29,257,000 | 29,415,603 | ||||||
3.05%, 8/15/2022 |
11,908,000 | 11,958,262 | ||||||
Emera US Finance LP (Canada) 0.83%, 6/15/2024 |
11,121,000 | 10,724,197 | ||||||
Entergy Corp. 4.00%, 7/15/2022 |
3,497,000 | 3,516,910 | ||||||
Entergy Louisiana LLC |
||||||||
0.62%, 11/17/2023 |
15,524,000 | 15,226,816 | ||||||
0.95%, 10/1/2024 |
20,815,000 | 20,203,170 | ||||||
Eversource Energy |
||||||||
2.80%, 5/1/2023 |
14,173,000 | 14,299,369 | ||||||
Series T, (SOFRINDX + 0.25%), 0.30%, 8/15/2023 (a) (c) |
22,322,000 | 22,289,248 | ||||||
Series N, 3.80%, 12/1/2023 |
174,000 | 178,873 | ||||||
Florida Power & Light Co. (SOFRINDX + 0.38%), 0.43%, 1/12/2024 (c) |
49,271,000 | 49,272,972 | ||||||
ITC Holdings Corp. 2.70%, 11/15/2022 |
18,617,000 | 18,772,980 | ||||||
NextEra Energy Capital Holdings, Inc. |
||||||||
(ICE LIBOR USD 3 Month + 0.27%), 0.75%, 2/22/2023 (c) |
29,947,000 | 29,914,867 | ||||||
(SOFRINDX + 0.54%), 0.59%, 3/1/2023 (c) |
2,905,000 | 2,911,432 | ||||||
0.65%, 3/1/2023 |
30,294,000 | 30,002,452 | ||||||
|
|
|||||||
268,169,597 | ||||||||
|
|
|||||||
Electrical Equipment — 0.0% (e) |
| |||||||
ABB Finance USA, Inc. (Switzerland) 2.88%, 5/8/2022 |
1,400,000 | 1,404,130 | ||||||
Eaton Corp. 2.75%, 11/2/2022 |
4,062,000 | 4,101,350 | ||||||
|
|
|||||||
5,505,480 | ||||||||
|
|
|||||||
Electronic Equipment, Instruments & Components — 0.4% |
| |||||||
TD SYNNEX Corp. 1.25%, 8/9/2024 (b) |
42,522,000 | 41,267,147 | ||||||
Teledyne Technologies, Inc. 0.65%, 4/1/2023 (a) |
39,910,000 | 39,395,397 | ||||||
|
|
|||||||
80,662,544 | ||||||||
|
|
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Energy Equipment & Services — 0.0% (e) |
| |||||||
Schlumberger Finance Canada Ltd. 2.65%, 11/20/2022 (b) |
3,623,000 | 3,658,622 | ||||||
|
|
|||||||
Entertainment — 0.2% |
| |||||||
TWDC Enterprises 18 Corp. 2.35%, 12/1/2022 |
5,400,000 | 5,444,677 | ||||||
Walt Disney Co. (The) |
||||||||
1.65%, 9/1/2022 |
19,999,000 | 20,077,855 | ||||||
3.00%, 9/15/2022 |
5,500,000 | 5,558,470 | ||||||
|
|
|||||||
31,081,002 | ||||||||
|
|
|||||||
Food & Staples Retailing — 0.4% |
| |||||||
7-Eleven, Inc. 0.63%, 2/10/2023 (b) |
67,817,000 | 67,274,162 | ||||||
Kroger Co. (The) 2.80%, 8/1/2022 (a) |
11,902,000 | 11,957,807 | ||||||
|
|
|||||||
79,231,969 | ||||||||
|
|
|||||||
Food Products — 0.3% |
| |||||||
Bunge Ltd. Finance Corp. 3.00%, 9/25/2022 |
10,841,000 | 10,925,351 | ||||||
Conagra Brands, Inc. 0.50%, 8/11/2023 |
23,177,000 | 22,719,024 | ||||||
Mondelez International Holdings Netherlands BV 2.13%, 9/19/2022 (a) (b) |
20,385,000 | 20,503,739 | ||||||
Mondelez International, Inc. 0.63%, 7/1/2022 |
7,039,000 | 7,026,650 | ||||||
Unilever Capital Corp. (United Kingdom) 3.00%, 3/7/2022 |
1,541,000 | 1,541,621 | ||||||
|
|
|||||||
62,716,385 | ||||||||
|
|
|||||||
Gas Utilities — 1.6% |
| |||||||
Atmos Energy Corp. |
||||||||
(ICE LIBOR USD 3 Month + 0.38%), 0.58%, 3/9/2023 (c) |
87,431,000 | 87,351,613 | ||||||
0.63%, 3/9/2023 |
55,468,000 | 54,840,450 | ||||||
CenterPoint Energy Resources Corp. |
||||||||
(ICE LIBOR USD 3 Month + 0.50%), 0.67%, 3/2/2023 (c) |
16,053,000 | 16,053,193 | ||||||
0.70%, 3/2/2023 |
25,649,000 | 25,381,093 | ||||||
ONE Gas, Inc. |
||||||||
(ICE LIBOR USD 3 Month + 0.61%), 0.81%, 3/11/2023 (c) |
30,397,000 | 30,398,317 | ||||||
0.85%, 3/11/2023 |
82,093,000 | 81,405,458 | ||||||
Southern Natural Gas Co. LLC 0.63%, 4/28/2023 (b) |
4,600,000 | 4,530,469 | ||||||
|
|
|||||||
299,960,593 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies — 0.0% (e) |
| |||||||
Abbott Laboratories 2.55%, 3/15/2022 |
143,000 | 143,090 |
SEE NOTES TO FINANCIAL STATEMENTS.
FEBRUARY 28, 2022 | J.P. MORGAN EXCHANGE-TRADED FUNDS | 199 |
JPMorgan Ultra-Short Income ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF FEBRUARY 28, 2022 (continued)
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Corporate Bonds — continued |
| |||||||
Health Care Equipment & Supplies — continued |
| |||||||
DH Europe Finance II SARL 2.05%, 11/15/2022 |
1,000,000 | 1,005,152 | ||||||
|
|
|||||||
1,148,242 | ||||||||
|
|
|||||||
Health Care Providers & Services — 1.1% |
| |||||||
Aetna, Inc. |
||||||||
2.75%, 11/15/2022 |
17,364,000 | 17,474,524 | ||||||
2.80%, 6/15/2023 |
9,649,000 | 9,776,925 | ||||||
AmerisourceBergen Corp. 0.74%, 3/15/2023 |
41,011,000 | 40,677,922 | ||||||
Anthem, Inc. |
||||||||
3.13%, 5/15/2022 |
22,700,000 | 22,804,193 | ||||||
2.95%, 12/1/2022 |
6,928,000 | 7,006,680 | ||||||
3.30%, 1/15/2023 |
6,166,000 | 6,259,928 | ||||||
Cigna Corp. (ICE LIBOR USD 3 Month + 0.89%), 1.13%, 7/15/2023 (c) |
14,963,000 | 15,107,372 | ||||||
CVS Health Corp. 2.75%, 12/1/2022 |
14,896,000 | 15,005,606 | ||||||
Humana, Inc. |
||||||||
3.15%, 12/1/2022 |
15,124,000 | 15,265,391 | ||||||
2.90%, 12/15/2022 |
21,770,000 | 21,982,774 | ||||||
0.65%, 8/3/2023 (a) |
16,792,000 | 16,529,668 | ||||||
UnitedHealth Group, Inc. |
||||||||
2.88%, 3/15/2022 (a) |
4,716,000 | 4,720,296 | ||||||
3.35%, 7/15/2022 |
2,251,000 | 2,269,961 | ||||||
|
|
|||||||
194,881,240 | ||||||||
|
|
|||||||
Hotels, Restaurants & Leisure — 0.2% |
| |||||||
Booking Holdings, Inc. 2.75%, 3/15/2023 |
985,000 | 996,336 | ||||||
Starbucks Corp. |
||||||||
1.30%, 5/7/2022 (a) |
10,231,000 | 10,236,364 | ||||||
2.70%, 6/15/2022 (a) |
25,000,000 | 25,048,948 | ||||||
|
|
|||||||
36,281,648 | ||||||||
|
|
|||||||
Household Products — 0.3% |
| |||||||
Church & Dwight Co., Inc. 2.45%, 8/1/2022 |
5,800,000 | 5,830,909 | ||||||
Reckitt Benckiser Treasury Services plc (United Kingdom) 2.38%, 6/24/2022 (b) |
44,405,000 | 44,521,740 | ||||||
|
|
|||||||
50,352,649 | ||||||||
|
|
|||||||
Industrial Conglomerates — 0.1% |
| |||||||
3M Co. |
||||||||
1.75%, 2/14/2023 |
205,000 | 205,931 | ||||||
2.25%, 3/15/2023 |
5,202,000 | 5,244,396 |
INVESTMENTS | PRINCIPAL AMOUNT ($) |
VALUE ($) | ||||||
Industrial Conglomerates — continued |
| |||||||
Honeywell International, Inc. |
||||||||
2.15%, 8/8/2022 (a) |
3,051,000 | 3,063,753 | ||||||
0.48%, 8/19/2022 (a) |
4,401,000 | 4,395,307 | ||||||
Roper Technologies, Inc. 0.45%, 8/15/2022 |
5,216,000 | 5,198,424 | ||||||
|
|
|||||||
18,107,811 | ||||||||
|
|
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Insurance — 4.6% |
| |||||||
Allstate Corp. (The) 3.15%, 6/15/2023 |
1,230,000 | 1,249,917 | ||||||
Athene Global Funding |
||||||||
(ICE LIBOR USD 3 Month + 1.23%), 1.44%, 7/1/2022 (b) (c) |
1,945,000 | 1,950,805 | ||||||
3.00%, 7/1/2022 (b) |
3,945,000 | 3,969,025 | ||||||
1.20%, 10/13/2023 (b) |
32,955,000 | 32,508,205 | ||||||
0.95%, 1/8/2024 (b) |
17,069,000 | 16,681,952 | ||||||
1.00%, 4/16/2024 (b) |
21,061,000 | 20,505,929 | ||||||
(SOFR + 0.70%), 0.75%, 5/24/2024 (b) (c) |
43,521,000 | 43,564,956 | ||||||
Brighthouse Financial Global Funding |
||||||||
0.60%, 6/28/2023 (b) |
11,451,000 | 11,275,367 | ||||||
1.20%, 12/15/2023 (b) |
23,953,000 | 23,522,079 | ||||||
1.00%, 4/12/2024 (b) |
7,007,000 | 6,821,213 | ||||||
Equitable Financial Life Global Funding |
||||||||
(SOFR + 0.39%), 0.44%, 4/6/2023 (b) (c) |
63,649,000 | 63,641,907 | ||||||
Guardian Life Global Funding |
||||||||
2.50%, 5/8/2022 (b) |
5,994,000 | 6,002,872 | ||||||
3.40%, 4/25/2023 (b) |
500,000 | 511,255 | ||||||
Jackson National Life Global Funding |
||||||||
2.50%, 6/27/2022 (b) |
2,091,000 | 2,101,433 | ||||||
2.38%, 9/15/2022 (a) (b) |
900,000 | 906,062 | ||||||
(SOFR + 0.60%), 0.65%, 1/6/2023 (b) (c) |
22,504,000 | 22,542,682 | ||||||
3.25%, 1/30/2024 (b) |
21,256,000 | 21,718,314 | ||||||
Marsh & McLennan Cos., Inc. 3.30%, 3/14/2023 |
234,000 | 237,654 | ||||||
MassMutual Global Funding II |
||||||||
(SOFR + 0.22%), 0.27%, 6/2/2023 (a) (b) (c) |
110,062,000 | 110,034,101 | ||||||
0.85%, 6/9/2023 (b) |
39,446,000 | 39,076,967 | ||||||
Met Tower Global Funding 0.55%, 7/13/2022 (a) (b) |
35,928,000 | 35,893,763 | ||||||
Metropolitan Life Global Funding I |
||||||||
3.00%, 1/10/2023 (b) |
243,000 | 246,644 | ||||||
0.90%, 6/8/2023 (b) |
12,448,000 | 12,350,602 |
SEE NOTES TO FINANCIAL STATEMENTS.
200 | J.P. MORGAN EXCHANGE-TRADED FUNDS | FEBRUARY 28, 2022 |