UNDER THE SECURITIES ACT OF 1933 |
☒ |
Pre-Effective Amendment No. |
☐ |
Post-Effective Amendment No. 383 |
☒ |
UNDER THE INVESTMENT COMPANY ACT OF 1940 |
☒ |
Amendment No. 385 |
☒ |
Elizabeth A. Davin, Esq. JPMorgan Chase & Co. 1111 Polaris Parkway Columbus, OH 43240 |
Jon S. Rand, Esq. Dechert LLP 1095 Avenue of the Americas New York, NY 10036 |
☐ |
immediately upon filing pursuant to paragraph (b) |
☒ |
on March 1, 2023 pursuant to paragraph (b) |
☐ |
60 days after filing pursuant to paragraph (a)(1) |
☐ |
on (date) pursuant to paragraph (a)(1) |
☐ |
75 days after filing pursuant to paragraph (a)(2) |
☐ |
on (date) pursuant to paragraph (a)(2) |
☐ |
The post-effective amendment designates a new effective date for a previously filed post-effective amendment. |
JPMorgan International Research Enhanced Equity ETF |
Ticker: JIRE |
Listing Exchange: NYSE Arca |
| |
Management Fees |
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Other Expenses |
|
Total Annual Fund Operating Expenses |
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Fee Waivers and/or Expense Reimbursements1 |
- |
Total Annual Fund Operating Expenses after Fee Waiv- ers and/or Expense Reimbursements1 |
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1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
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Past 1 Year |
Past 5 Years |
Past 10 Years |
SHARES |
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|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
MSCI EAFE INDEX (Net Total Return) (Reflects No Deduction for Fees, Expenses, or Taxes, Except Foreign Withholding Taxes) |
- |
|
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Piera Elisa Grassi |
2022 |
Managing Director |
Nicholas Farserotu |
2022 |
Vice President |
Winnie Cheung |
2022 |
Vice President |
FUNDAMENTAL INVESTMENT OBJECTIVE |
An investment objective is fundamental if it cannot be changed without the consent of a majority of the outstanding Shares of the Fund. The Fund’s investment objective is fundamental. |
|
International Research Enhanced Equity ETF |
Authorized Participant Concentration Risk |
• |
Convertible Securities Risk |
○ |
Currency Risk |
• |
Cyber Security Risk |
○ |
Depositary Receipts Risk |
○ |
Derivatives Risk |
• |
Developed Asia Pacific (ex-Japan) Market Risk |
○ |
Equity Market Risk |
• |
European Market Risk |
• |
Exchange-Traded Fund (ETF) and Other Investment Company Risk |
○ |
Foreign Securities Risk |
• |
General Market Risk |
• |
Geographic Focus Risk |
• |
Industry and Sector Focus Risk |
• |
|
International Research Enhanced Equity ETF |
Initial Public Offerings (IPO) Risk |
○ |
Interest Rate Risk |
○ |
Japan Risk |
• |
Market Trading Risk |
• |
Preferred Securities Risk |
○ |
Privately Placed Securities Risk |
○ |
Real Estate Securities Risk |
○ |
Regulatory and Legal Risk |
○ |
Securities Lending Risk |
○ |
Smaller Company Risk |
○ |
Structured Instrument Risk |
○ |
Transactions and Liquidity Risk |
○ |
Volcker Rule Risk |
○ |
WHAT IS A DERIVATIVE? |
Derivatives are securities or contracts (for example, futures and options) that derive their value from the performance of underlying assets or securities. |
WHAT IS A CASH EQUIVALENT? |
Cash equivalents are highly liquid, high-quality instruments with maturities of three months or less on the date they are purchased. They include securities issued by the U.S. government, its agencies and instrumentalities, repurchase agreements, certificates of deposit, bankers’ acceptances, commercial paper, money market mutual funds, and bank deposit accounts. |
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Per share operating performance (a) | ||||||
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Investment operations |
Distributions | ||||
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Net asset value beginning of period |
Net investment income loss (b) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
Net realized gain |
Total Distributions |
JPMorgan International Research Enhanced Equity ETF (e) |
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Year Ended October 31, 2022 |
$61.89 |
$1.39 |
$(14.54) |
$(13.15) |
$(2.47) |
$— |
$(2.47) |
Year Ended October 31, 2021 |
46.43 |
1.42(f) |
15.11 |
16.53 |
(1.07) |
— |
(1.07) |
Year Ended October 31, 2020 |
52.55 |
1.13 |
(5.63) |
(4.50) |
(1.62) |
— |
(1.62) |
Year Ended October 31, 2019 |
49.24 |
1.65 |
3.37 |
5.02 |
(1.71) |
— |
(1.71) |
November 1, 2017 (g) through October 31, 2018 |
55.08 |
1.62 |
(6.27) |
(4.65) |
(0.64) |
(0.55) |
(1.19) |
| |
(a) |
Per share amounts reflect the conversion of the Predecessor Fund into the Fund as of the close of business on June 10, 2022. See Note 1. |
(b) |
Calculated based upon average shares outstanding. |
(c) |
Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(d) |
JPMorgan International Research Enhanced Equity ETF acquired all of the assets and liabilities of the JPMorgan International Research Enhanced Equity Fund (“Predecessor Fund”) in a reorganization that occurred as of the close of business on June 10, 2022. Market price returns are calculated using the official closing price of the JPMorgan International Research Enhanced Equity ETF on the listing exchange as of the time that the JPMorgan International Research Enhanced Equity ETF's NAV is calculated. Prior to the JPMorgan International Research Enhanced Equity ETF's listing on June 13, 2022, the NAV performance of the Class R6 Shares of the Predecessor Fund are used as proxy market price returns. |
(e) |
JPMorgan International Research Enhanced Equity ETF (the “Fund”) acquired all of the assets and liabilities of the JPMorgan International Research Enhanced Equity Fund (“Predecessor Fund”) in a reorganization that occurred as of the close of business on June 10, 2022. Performance and financial history of the Predecessor Fund’s Class R6 Shares have been adopted by the Fund and will be used going forward. As a result, the financial highlight information reflects that of the Predecessor Fund’s Class R6 Shares for the period November 1, 2017 up through the reorganization. |
(f) |
Reflects income from foreign withholding tax claims, including related interest income. Had the Fund not received these proceeds, the net investment income (loss) per share would have remained the same and the net investment income (loss) ratio would have been 2.44%. |
(g) |
Commencement of offering of class of shares. |
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Ratios/Supplemental data | |||||||
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Ratios to average net assets | |||
Net asset value, end of period |
Market price, end of period |
Total Return (c) |
Market price total return (d) |
Net assets, end of period |
Net expenses |
Net investment income (loss) |
Expenses without waivers and reimbursements |
Portfolio turnover rate |
|
|
|
|
|
|
|
|
|
$46.27 |
$46.28 |
(22.04)% |
(22.03)% |
$5,026,188,342 |
0.24% |
2.66% |
0.30% |
16% |
61.89 |
61.89 |
35.93 |
35.93 |
4,562,266,369 |
0.25 |
2.46(f) |
0.31 |
20 |
46.43 |
46.43 |
(8.96) |
(8.96) |
4,337,775,495 |
0.24 |
2.35 |
0.30 |
52 |
52.55 |
52.55 |
10.78 |
10.78 |
4,435,538,473 |
0.25 |
3.37 |
0.31 |
22 |
49.24 |
49.24 |
(8.60) |
(8.60) |
4,344,571,588 |
0.25 |
3.00 |
0.32 |
42 |
|
|
|
|
Net Expense Ratio |
Gross Expense Ratio |
JPMorgan International Research Enhanced Equity ETF |
0.24% |
0.30% |
JPMorgan International Research Enhanced Equity ETF | ||||
Period Ended |
Annual Costs |
Gross Cumulative Return |
Net Cumulative Return |
Net Annual Return |
February 29, 2024 |
$25 |
5.00% |
4.76% |
4.76% |
February 28, 2025 |
26 |
10.25 |
9.75 |
4.76 |
February 28, 2026 |
31 |
15.76 |
14.93 |
4.72 |
February 28, 2027 |
35 |
21.55 |
20.33 |
4.70 |
February 29, 2028 |
37 |
27.63 |
25.98 |
4.70 |
February 28, 2029 |
39 |
34.01 |
31.90 |
4.70 |
February 28, 2030 |
41 |
40.71 |
38.10 |
4.70 |
February 28, 2031 |
42 |
47.75 |
44.60 |
4.70 |
February 29, 2032 |
44 |
55.13 |
51.39 |
4.70 |
February 28, 2033 |
46 |
62.89 |
58.51 |
4.70 |
|
Ticker |
Listing Exchange |
JPMorgan ActiveBuilders Emerging Markets Equity ETF |
JEMA |
Cboe BZX Exchange, Inc. |
JPMorgan ActiveBuilders International Equity ETF |
JIDA |
NYSE Arca |
JPMorgan International Growth ETF |
JIG |
NYSE Arca |
| |
Management Fees |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Past |
Life of Fund since |
|
1 Year |
|
SHARES |
|
|
Return Before Taxes |
- |
- |
Return After Taxes on Distributions |
- |
- |
Return After Taxes on Distributions and Sale of Fund Shares |
- |
- |
MSCI EMERGING MARKETS INDEX (Net Total Return) (Reflects No Deduction for Fees, Expenses, or Taxes, Except Foreign Withholding Taxes) |
- |
- |
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Anuj Arora |
2021 |
Managing Director |
Joyce Weng |
2021 |
Executive Director |
Harold Yu |
2022 |
Executive Director |
| |
Management Fees |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Past |
Life of Fund since |
|
1 Year |
|
SHARES |
|
|
Return Before Taxes |
- |
- |
Return After Taxes on Distributions |
- |
- |
Return After Taxes on Distributions and Sale of Fund Shares |
- |
- |
MSCI EAFE INDEX (Net Total Return) (Reflects No Deduction for Fees, Expenses, or Taxes, Except Foreign Withholding Taxes) |
- |
- |
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Nicholas Horne |
2021 |
Managing Director |
Philippa Clough |
2021 |
Executive Director |
Richard Morillot |
2021 |
Executive Director |
| |
Management Fees |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Past |
Life of Fund since |
|
1 Year |
|
SHARES |
|
|
Return Before Taxes |
- |
|
Return After Taxes on Distributions |
- |
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
MSCI ACWI EX USA GROWTH INDEX (Net Total Return) (Reflects No Deduction for Fees, Expenses, or Taxes, Except Foreign Withholding Taxes) |
- |
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Shane Duffy |
2020 |
Managing Director |
Thomas Murray |
2020 |
Managing Director |
NON-FUNDAMENTAL INVESTMENT OBJECTIVES |
An investment objective is fundamental if it cannot be changed without the consent of a majority of the outstanding Shares of each Fund. Each Fund’s investment objective is not fundamental and may be changed without the consent of a majority of the outstanding Shares of the Fund. |
|
ActiveBuilders Emerging Markets Equity ETF |
ActiveBuilders International Equity ETF |
International Growth ETF |
Asia Pacific Market Risk |
• |
|
|
Authorized Participant Concentration Risk |
• |
• |
• |
Cash Transactions Risk |
• |
|
|
China Stock Connect Programs Risk |
○ |
○ |
○ |
Consumer Discretionary Sector Risk |
|
• |
|
Convertible Securities Risk |
○ |
○ |
|
Currency Risk |
• |
• |
• |
Cyber Security Risk |
○ |
○ |
○ |
Depositary Receipts Risk |
• |
• |
|
Derivatives Risk |
• |
• |
• |
Developed Asia Pacific (ex-Japan) Market Risk |
|
○ |
○ |
Equity Market Risk |
• |
• |
• |
European Market Risk |
|
• |
○ |
Exchange-Traded Fund (ETF) and Other Investment Company Risk |
• |
○ |
|
Financials Sector Risk |
|
• |
|
Foreign Securities and Emerging Markets Risk |
• |
• |
• |
General Market Risk |
• |
• |
• |
Geographic Focus Risk |
• |
• |
• |
Greater China Region Risk |
• |
○ |
○ |
Growth Investing Risk |
|
|
• |
India Risk |
• |
|
|
Industrials Sector Risk |
|
• |
|
Industry and Sector Focus Risk |
• |
• |
• |
Large Cap Company Risk |
|
• |
|
Market Trading Risk |
• |
• |
• |
Middle East and Africa Risk |
○ |
|
|
New Fund Risk |
○ |
○ |
○ |
|
ActiveBuilders Emerging Markets Equity ETF |
ActiveBuilders International Equity ETF |
International Growth ETF |
Preferred Stock Risk |
|
|
• |
Regulatory and Legal Risk |
○ |
○ |
○ |
Risk of Investing in Japan |
|
• |
○ |
Securities Lending Risk |
○ |
○ |
○ |
Smaller Company Risk |
• |
• |
• |
Transactions and Liquidity Risk |
○ |
○ |
○ |
Variable Interest Entities Risk |
• |
○ |
○ |
Volcker Rule Risk |
○ |
○ |
○ |
WHAT IS A DERIVATIVE? |
Derivatives are securities or contracts (for example, futures and options) that derive their value from the performance of underlying assets or securities. |
WHAT IS A CASH EQUIVALENT? |
Cash equivalents are highly liquid, high-quality instruments with maturities of three months or less on the date they are purchased. They include securities issued by the U.S. government, its agencies and instrumentalities, repurchase agreements, certificates of deposit, bankers’ acceptances, commercial paper, variable rate master demand notes, money market mutual funds, and bank deposit accounts. |
JPMorgan ActiveBuilders Emerging Markets Equity ETF |
0.33% |
JPMorgan ActiveBuilders International Equity ETF |
0.25 |
JPMorgan International Growth ETF |
0.55 |
|
Per share operating performance | ||||||
|
|
Investment operations |
Distributions | ||||
|
Net asset value, beginning of period |
Net investment income (loss)(b) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
Net realized gain |
Total distributions |
JPMorgan ActiveBuilders Emerging Markets Equity ETF |
|
|
|
|
|
|
|
Year Ended October 31, 2022 |
$47.92 |
$1.14 |
$(17.27) |
$(16.13) |
$(0.63) |
$(0.09) |
$(0.72) |
March 10, 2021 (h) through October 31, 2021 |
48.00 |
0.66 |
(0.74) |
(0.08) |
— |
— |
— |
JPMorgan ActiveBuilders International Equity ETF |
|
|
|
|
|
|
|
Year Ended October 31, 2022 |
49.03 |
1.19 |
(12.31) |
(11.12) |
(0.53) |
— |
(0.53) |
July 7, 2021 (h) through October 31, 2021 |
48.00 |
0.35 |
0.68 |
1.03 |
— |
— |
— |
JPMorgan International Growth ETF |
|
|
|
|
|
|
|
Year Ended October 31, 2022 |
79.09 |
0.44 |
(30.69) |
(30.25) |
(0.49) |
(0.54) |
(1.03) |
Year Ended October 31, 2021 |
62.98 |
0.19 |
15.95 |
16.14 |
(0.03) |
— |
(0.03) |
May 20, 2020 (h) through October 31, 2020 |
51.83 |
0.05 |
11.10 |
11.15 |
— |
— |
— |
| |
(a) |
Annualized for periods less than one year, unless otherwise noted. |
(b) |
Calculated based upon average shares outstanding. |
(c) |
Not annualized for periods less than one year. |
(d) |
Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(e) |
Prior to December 9, 2019, 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 midpoint of the bid/ask spread at the close of business on the listing exchange of the fund. Effective December 9, 2019, the closing price was used to calculate the market price return; however, any prices used in the calculation for market price return prior to December 9, 2019, would have used the midpoint of the bid/ask spread at the close of business on the exchange. |
(f) |
Since the Shares of the Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of secondary market trading, the net asset value is used as a proxy for the secondary market trading price to calculate the market returns. |
(g) |
Does not include expenses of unaffiliated Underlying Funds. |
(h) |
Commencements of operations. |
|
Ratios/Supplemental data | |||||||
|
|
|
|
|
Ratios to average net assets (a) |
| ||
Net asset value, end of period |
Market price, end of period |
Total return (c)(d) |
Market price total return (c)(e) |
Net assets, end of period |
Net expenses |
Net investment income (loss) |
Expenses without waivers and reimbursements |
Portfolio turnover rate (c) |
|
|
|
|
|
|
|
|
|
$31.07 |
$31.15 |
(34.15)% |
(34.32)% |
$907,154,126 |
0.33% |
3.05% |
0.33% |
28% |
47.92 |
48.17 |
(0.17) |
0.35(f) |
325,863,960 |
0.30(g) |
2.11 |
0.33(g) |
40 |
|
|
|
|
|
|
|
|
|
37.38 |
37.36 |
(22.91) |
(23.23) |
22,426,876 |
0.25 |
2.77 |
0.25 |
28 |
49.03 |
49.21 |
2.15 |
2.52(f) |
29,419,956 |
0.25 |
2.23 |
0.25 |
9 |
|
|
|
|
|
|
|
|
|
47.81 |
47.80 |
(38.72) |
(38.97) |
54,982,105 |
0.55 |
0.75 |
0.55 |
32 |
79.09 |
79.40 |
25.63 |
25.85 |
61,291,950 |
0.55 |
0.25 |
0.55 |
37 |
62.98 |
63.12 |
21.51 |
21.78(f) |
37,787,658 |
0.55 |
0.16 |
0.55 |
12 |
|
Ticker |
Listing Exchange |
JPMorgan BetaBuilders Canada ETF |
BBCA |
Cboe BZX Exchange, Inc. |
JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF |
BBAX |
Cboe BZX Exchange, Inc. |
JPMorgan BetaBuilders Europe ETF |
BBEU |
Cboe BZX Exchange, Inc. |
JPMorgan BetaBuilders International Equity ETF |
BBIN |
Cboe BZX Exchange, Inc. |
JPMorgan BetaBuilders Japan ETF |
BBJP |
Cboe BZX Exchange, Inc. |
JPMorgan BetaBuilders U.S. Equity ETF |
BBUS |
Cboe BZX Exchange, Inc. |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF |
BBMC |
NYSE Arca |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF |
BBSC |
NYSE Arca |
JPMorgan Carbon Transition U.S. Equity ETF |
JCTR |
NYSE Arca |
JPMorgan Diversified Return Emerging Markets Equity ETF |
JPEM |
NYSE Arca |
JPMorgan Diversified Return International Equity ETF |
JPIN |
NYSE Arca |
JPMorgan Diversified Return U.S. Equity ETF |
JPUS |
NYSE Arca |
JPMorgan Diversified Return U.S. Mid Cap Equity ETF |
JPME |
NYSE Arca |
JPMorgan Diversified Return U.S. Small Cap Equity ETF |
JPSE |
NYSE Arca |
JPMorgan U.S. Momentum Factor ETF |
JMOM |
NYSE Arca |
JPMorgan U.S. Quality Factor ETF |
JQUA |
NYSE Arca |
JPMorgan U.S. Value Factor ETF |
JVAL |
NYSE Arca |
| |
1 | |
7 | |
13 | |
19 | |
25 | |
31 | |
36 | |
41 | |
46 | |
51 | |
59 | |
65 | |
70 | |
75 | |
80 | |
85 | |
90 | |
95 | |
95 | |
106 | |
122 | |
123 | |
125 |
126 | |
126 | |
127 | |
129 | |
130 | |
130 | |
131 | |
134 | |
134 | |
134 | |
134 | |
135 | |
136 | |
136 | |
137 | |
137 | |
138 | |
138 | |
138 | |
140 | |
Back cover |
| |
Management Fees |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Past |
Life of Fund since |
|
1 Year |
|
SHARES |
|
|
Return Before Taxes |
- |
|
Return After Taxes on Distributions |
- |
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
MORNINGSTAR® CANADA TARGET MARKET EXPOSURE INDEX (Net Total Return) (Reflects No Deduction for Fees, Expenses, or Taxes, Except Foreign Withholding Taxes) |
- |
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Nicholas D’Eramo |
2018 |
Executive Director |
Michael Loeffler |
2018 |
Executive Director |
Oliver Furby |
2018 |
Executive Director |
Alex Hamilton |
2018 |
Executive Director |
| |
Management Fees |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Past |
Life of Fund since |
|
1 Year |
|
SHARES |
|
|
Return Before Taxes |
- |
|
Return After Taxes on Distributions |
- |
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
MORNINGSTAR® DEVELOPED ASIA PACIFIC EX-JAPAN TARGET MARKET EXPOSURE INDEX (Net Total Return) (Reflects No Deduction for Fees, Expenses, or Taxes, Except Foreign Withholding Taxes) |
- |
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Nicholas D’Eramo |
2018 |
Executive Director |
Michael Loeffler |
2018 |
Executive Director |
Oliver Furby |
2018 |
Executive Director |
Alex Hamilton |
2018 |
Executive Director |
| |
Management Fees |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Past |
Life of Fund since |
|
1 Year |
|
SHARES |
|
|
Return Before Taxes |
- |
|
Return After Taxes on Distributions |
- |
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
MORNINGSTAR® DEVELOPED EUROPE TARGET MARKET EXPOSURE INDEX (Net Total Return) (Reflects No Deduction for Fees, Expenses, or Taxes, Except Foreign Withholding Taxes) |
- |
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Nicholas D’Eramo |
2018 |
Executive Director |
Michael Loeffler |
2018 |
Executive Director |
Oliver Furby |
2018 |
Executive Director |
Alex Hamilton |
2018 |
Executive Director |
| |
Management Fees |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Past |
Life of Fund since |
|
1 Year |
|
SHARES |
|
|
Return Before Taxes |
- |
|
Return After Taxes on Distributions |
- |
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
MORNINGSTAR® DEVELOPED MARKETS EX-NORTH AMERICA TARGET MARKET EXPOSURE INDEX (Net Total Return) (Reflects No Deduction for Fees, Expenses, or Taxes, Except Foreign Withholding Taxes) |
- |
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Nicholas D’Eramo |
2019 |
Executive Director |
Michael Loeffler |
2019 |
Executive Director |
Oliver Furby |
2019 |
Executive Director |
Alex Hamilton |
2019 |
Executive Director |
| |
Management Fees |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Past |
Life of Fund since |
|
1 Year |
|
SHARES |
|
|
Return Before Taxes |
- |
- |
Return After Taxes on Distributions |
- |
- |
Return After Taxes on Distributions and Sale of Fund Shares |
- |
- |
MORNINGSTAR® JAPAN TARGET MARKET EXPOSURE INDEX (Net Total Return) (Reflects No Deduction for Fees, Expenses, or Taxes, Except Foreign Withholding Taxes) |
- |
- |
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Nicholas D’Eramo |
2018 |
Executive Director |
Michael Loeffler |
2018 |
Executive Director |
Oliver Furby |
2018 |
Executive Director |
Alex Hamilton |
2018 |
Executive Director |
| |
Management Fees |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Past |
Life of Fund since |
|
1 Year |
|
SHARES |
|
|
Return Before Taxes |
- |
|
Return After Taxes on Distributions |
- |
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
MORNINGSTAR® US TARGET MARKET EXPOSURE INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Nicholas D’Eramo |
2019 |
Executive Director |
Michael Loeffler |
2019 |
Executive Director |
Oliver Furby |
2019 |
Executive Director |
Alex Hamilton |
2019 |
Executive Director |
| |
Management Fees |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Past |
Life of Fund since |
|
1 Year |
|
SHARES |
|
|
Return Before Taxes |
- |
|
Return After Taxes on Distributions |
- |
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
MORNINGSTAR® US MID CAP TARGET MARKET EXPOSURE EXTENDED INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Nicholas D’Eramo |
2019 |
Executive Director |
Michael Loeffler |
2019 |
Executive Director |
Oliver Furby |
2019 |
Executive Director |
Alex Hamilton |
2019 |
Executive Director |
| |
Management Fees |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Past |
Life of Fund since |
|
1 Year |
|
SHARES |
|
|
Return Before Taxes |
- |
|
Return After Taxes on Distributions |
- |
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
MORNINGSTAR® US SMALL CAP TARGET MARKET EXPOSURE EXTENDED INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Nicholas D’Eramo |
2020 |
Executive Director |
Michael Loeffler |
2020 |
Executive Director |
Oliver Furby |
2020 |
Executive Director |
Alex Hamilton |
2020 |
Executive Director |
| |
Management Fees |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Past |
Life of Fund since |
|
1 Year |
|
SHARES |
|
|
Return Before Taxes |
- |
|
Return After Taxes on Distributions |
- |
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
JPMORGAN ASSET MANAGEMENT CARBON TRANSITION U.S. EQUITY INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
RUSSELL 1000 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Yazann Romahi |
2020 |
Managing Director |
Aijaz Hussain |
2020 |
Vice President |
Natalia Zvereva |
2022 |
Executive Director |
| |
Management Fees |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
|
Past |
Past |
Life of Fund since |
|
1 Year |
5 Years |
|
SHARES |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
- |
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
JP MORGAN DIVERSIFIED FACTOR EMERGING MARKETS EQUITY INDEX (Net Total Return) (Reflects No Deduction for Fees, Expenses, or Taxes, Except Foreign Withholding Taxes) |
- |
|
|
FTSE EMERGING INDEX (Net Total Return) (Reflects No Deduction for Fees, Expenses, or Taxes, Except Foreign Withholding Taxes) |
- |
- |
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Yazann Romahi |
2017 |
Managing Director |
Joe Staines |
2017 |
Executive Director |
Kartik Aiyar |
2017 |
Vice President |
Yegang (Steven) Wu |
2021 |
Executive Director |
Natalia Zvereva |
2022 |
Executive Director |
| |
Management Fees |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
|
Past |
Past |
Life of Fund since |
|
1 Year |
5 Years |
|
SHARES |
|
|
|
Return Before Taxes |
- |
- |
|
Return After Taxes on Distributions |
- |
- |
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
- |
|
JP MORGAN DIVERSIFIED FACTOR INTERNATIONAL EQUITY INDEX (Net Total Return) (Reflects No Deduction for Fees, Expenses, or Taxes, Except Foreign Withholding Taxes) |
- |
- |
|
FTSE DEVELOPED EX NORTH AMERICA INDEX (Net Total Return) (Reflects No Deduction for Fees, Expenses, or Taxes, Except Foreign Withholding Taxes) |
- |
|
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Yazann Romahi |
2017 |
Managing Director |
Joe Staines |
2017 |
Executive Director |
Kartik Aiyar |
2017 |
Vice President |
Yegang (Steven) Wu |
2022 |
Executive Director |
Natalia Zvereva |
2022 |
Executive Director |
| |
Management Fees |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
|
Past |
Past |
Life of Fund since |
|
1 Year |
5 Years |
|
SHARES |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
JP MORGAN DIVERSIFIED FACTOR US EQUITY INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
|
RUSSELL 1000 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Yazann Romahi |
2016 |
Managing Director |
Joe Staines |
2016 |
Executive Director |
Yegang (Steven) Wu |
2016 |
Executive Director |
Natalia Zvereva |
2022 |
Executive Director |
| |
Management Fees |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
|
Past |
Past |
Life of Fund since |
|
1 Year |
5 Years |
|
SHARES |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
JP MORGAN DIVERSIFIED FACTOR US MID CAP EQUITY INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
|
RUSSELL MIDCAP INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Yazann Romahi |
2016 |
Managing Director |
Joe Staines |
2016 |
Executive Director |
Yegang (Steven) Wu |
2016 |
Executive Director |
Natalia Zvereva |
2022 |
Executive Director |
| |
Management Fees |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
|
Past |
Past |
Life of Fund since |
|
1 Year |
5 Years |
|
SHARES |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
JP MORGAN DIVERSIFIED FACTOR US SMALL CAP EQUITY INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
|
RUSSELL 2000 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Yazann Romahi |
2016 |
Managing Director |
Joe Staines |
2016 |
Executive Director |
Yegang (Steven) Wu |
2016 |
Executive Director |
Natalia Zvereva |
2022 |
Executive Director |
| |
Management Fees |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
|
Past |
Past |
Life of Fund since |
|
1 Year |
5 Years |
|
SHARES |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
JP MORGAN US MOMENTUM FAC- TOR INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
|
RUSSELL 1000 GROWTH INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
|
RUSSELL 1000 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Yazann Romahi |
2017 |
Managing Director |
Joe Staines |
2017 |
Executive Director |
Yegang (Steven) Wu |
2017 |
Executive Director |
Natalia Zvereva |
2022 |
Executive Director |
| |
Management Fees |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
|
Past |
Past |
Life of Fund since |
|
1 Year |
5 Years |
|
SHARES |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
JP MORGAN US QUALITY FACTOR INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
|
RUSSELL 1000 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Yazann Romahi |
2017 |
Managing Director |
Joe Staines |
2017 |
Executive Director |
Yegang (Steven) Wu |
2017 |
Executive Director |
Natalia Zvereva |
2022 |
Executive Director |
| |
Management Fees |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
|
Past |
Past |
Life of Fund since |
|
1 Year |
5 Years |
|
SHARES |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
JP MORGAN US VALUE FACTOR INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
|
RUSSELL 1000 VALUE INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
|
RUSSELL 1000 INDEX (Reflects No Deduction for Fees, Expenses, or Taxes) |
- |
|
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Yazann Romahi |
2017 |
Managing Director |
Joe Staines |
2017 |
Executive Director |
Yegang (Steven) Wu |
2017 |
Executive Director |
Natalia Zvereva |
2022 |
Executive Director |
UNDERLYING INDEX CHARACTERISTICS |
Value — Targets equity securities with attractive prices relative to their region and super-sector peers based on fundamental characteristics of book yield, earnings yield, dividend yield and cash flow yield. |
Momentum — A tendency that stocks that are rising in price tend to continue to rise, while those that are falling tend to continue to fall. Targets equity securities which have higher risk-adjusted returns relative to those of their region and super-sector peers over a twelve month period. The twelve month returns are divided by the twelve month volatility of the returns to get the risk-adjusted returns. |
Quality — Targets equity securities with higher quality characteristics relative to their region and super-sector peers as measured by profitability, earnings quality and solvency/financial risk. |
UNDERLYING INDEX CHARACTERISTICS |
Value — Targets equity securities with attractive prices relative to their region and/or sector peers based on fundamental characteristics of book yield, earnings yield, dividend yield and cash flow yield. |
Momentum — A tendency that stocks that are rising in price tend to continue to rise, while those that are falling tend to continue to fall. Targets equity securities which have higher risk-adjusted returns relative to those of their region and/or sector peers over a twelve month period. The twelve month returns are divided by the twelve month volatility of the returns to get the risk-adjusted returns. |
Quality — Targets equity securities with higher quality characteristics relative to their region and/or sector peers as measured by profitability, earnings quality and solvency/financial risk. |
UNDERLYING INDEX CHARACTERISTICS |
Value — Targets equity securities with attractive prices relative to their sector peers based on fundamental characteristics of book yield, earnings yield, dividend yield and cash flow yield. |
Momentum — A tendency that stocks that are rising in price tend to continue to rise, while those that are falling tend to continue to fall. Targets equity securities which have higher risk-adjusted returns relative to those of their sector peers over a twelve month period. The twelve month returns are divided by the twelve month volatility of the returns to get the risk-adjusted returns. |
Quality — Targets equity securities with higher quality characteristics relative to their sector peers as measured by profitability, earnings quality and solvency/financial risk. |
UNDERLYING INDEX CHARACTERISTICS |
Value — Targets equity securities with attractive prices relative to their sector peers based on fundamental characteristics of book yield, earnings yield, dividend yield and cash flow yield. |
Momentum — A tendency that stocks that are rising in price tend to continue to rise, while those that are falling tend to continue to fall. Targets equity securities which have higher risk-adjusted returns relative to those of their sector peers over a twelve month period. The twelve month returns are divided by the twelve month volatility of the returns to get the risk-adjusted returns. |
Quality — Targets equity securities with higher quality characteristics relative to their sector peers as measured by profitability, earnings quality and solvency/financial risk. |
UNDERLYING INDEX CHARACTERISTICS |
Value — Targets equity securities with attractive prices relative to their sector peers based on fundamental char- acteristics of book yield, earnings yield, dividend yield and cash flow yield. |
Momentum — A tendency that stocks that are rising in price tend to continue to rise, while those that are falling tend to continue to fall. Targets equity securities which have higher risk-adjusted returns relative to those of their sector peers over a twelve month period. The twelve month returns are divided by the twelve month volatility of the returns to get the risk-adjusted returns. |
Quality — Targets equity securities with higher quality characteristics relative to their sector peers as measured by profitability, earnings quality and solvency/financial risk. |
UNDERLYING INDEX CHARACTERISTIC |
Momentum — A tendency that stocks that are rising in price tend to continue to rise, while those that are falling tend to continue to fall. Targets equity securities which have higher risk-adjusted returns relative to those of their sector peers over a twelve month period. The twelve month returns are divided by the twelve month volatility of the returns to get the risk-adjusted returns. |
UNDERLYING INDEX CHARACTERISTIC |
Quality — Targets equity securities with higher quality characteristics relative to their sector peers as measured by profitability, earnings quality and solvency/financial risk. |
UNDERLYING INDEX CHARACTERISTIC |
Value — Targets equity securities with attractive prices relative to their sector peers based on fundamental characteristics of book yield, earnings yield, dividend yield and cash flow yield. |
NON-FUNDAMENTAL INVESTMENT OBJECTIVES |
An investment objective is fundamental if it cannot be changed without the consent of a majority of the outstanding Shares of each Fund. Each Fund’s investment objective is not fundamental and may be changed without the consent of a majority of the outstanding Shares of the Fund. |
|
BetaBuilders Canada ETF |
BetaBuilders Developed Asia Pacific ex-Japan ETF |
BetaBuilders Europe ETF |
BetaBuilders International Equity ETF |
BetaBuilders Japan ETF |
BetaBuilders U.S. Equity ETF |
BetaBuilders U.S. Mid Cap Equity ETF |
BetaBuilders U.S. Small Cap Equity ETF |
Carbon Transition U.S. Equity ETF |
Diversified Return Emerging Markets Equity ETF |
Authorized Participant Concentration Risk |
• |
• |
• |
• |
• |
• |
• |
• |
• |
• |
Carbon Transition Investment Strategy Risk |
|
|
|
|
|
|
|
|
• |
|
Cash Transactions Risk |
|
|
|
|
|
|
|
|
|
• |
Concentration Risk |
• |
• |
• |
• |
• |
• |
• |
• |
|
○ |
Consumer Discretionary Sector Risk |
|
|
|
|
• |
|
|
|
|
|
Currency Risk |
• |
• |
• |
• |
• |
|
|
|
|
• |
Cyber Security Risk |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
Derivatives Risk |
• |
• |
• |
• |
• |
• |
• |
• |
• |
• |
Diversification Risk |
• |
• |
• |
• |
• |
• |
• |
• |
|
|
Energy Sector Risk |
• |
|
|
|
|
|
|
|
|
|
Equity Market Risk |
• |
• |
• |
• |
• |
• |
• |
• |
• |
• |
Exchange-Traded Fund (ETF) and Other Investment Company Risk |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
Financials Sector Risk |
• |
• |
• |
• |
|
|
|
• |
|
• |
Foreign Securities and Emerging Markets Risk |
• |
• |
• |
• |
• |
|
|
|
|
• |
General Market Risk |
• |
• |
• |
• |
• |
• |
• |
• |
• |
• |
Geographic Focus Risk |
• |
• |
• |
• |
• |
|
|
|
|
• |
Healthcare Sector Risk |
|
|
• |
|
|
|
|
• |
|
|
Index Related Risk |
• |
• |
• |
• |
• |
• |
• |
• |
• |
• |
Industrials Sector Risk |
|
|
|
• |
• |
|
• |
• |
|
|
Industry and Sector Focus Risk |
• |
• |
• |
• |
• |
• |
• |
• |
• |
• |
Information Technology Sector Risk |
|
|
|
|
|
• |
|
|
|
|
Large Cap Company Risk |
• |
• |
• |
• |
• |
• |
|
|
• |
• |
Market Trading Risk |
• |
• |
• |
• |
• |
• |
• |
• |
• |
• |
Materials Sector Risk |
|
• |
|
|
|
|
|
|
|
|
Momentum Investing Risk |
|
|
|
|
|
|
|
|
|
○ |
Multiple Factor Strategy Risk |
|
|
|
|
|
|
|
|
|
○ |
New Fund Risk |
|
|
|
|
|
|
○ |
○ |
○ |
|
Passive Management Risk |
• |
• |
• |
• |
• |
• |
• |
• |
• |
• |
|
BetaBuilders Canada ETF |
BetaBuilders Developed Asia Pacific ex-Japan ETF |
BetaBuilders Europe ETF |
BetaBuilders International Equity ETF |
BetaBuilders Japan ETF |
BetaBuilders U.S. Equity ETF |
BetaBuilders U.S. Mid Cap Equity ETF |
BetaBuilders U.S. Small Cap Equity ETF |
Carbon Transition U.S. Equity ETF |
Diversified Return Emerging Markets Equity ETF |
Preferred Securities Risk |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
Regulatory and Legal Risk |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
Risk of Investing in Quality Companies |
|
|
|
|
|
|
|
|
|
○ |
Sampling Risk |
• |
• |
• |
• |
• |
• |
• |
• |
• |
• |
Securities Lending Risk |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
Smaller Company Risk |
• |
• |
• |
• |
• |
• |
• |
• |
• |
• |
Technology Sector Risk |
|
|
|
|
|
|
|
|
• |
|
Transactions and Liquidity Risk |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
Value Investing Risk |
|
|
|
|
|
|
|
|
|
○ |
Volcker Rule Risk |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
|
Diversified Return International Equity ETF |
Diversified Return U.S. Equity ETF |
Diversified Return U.S. Mid Cap Equity ETF |
Diversified Return U.S. Small Cap Equity ETF |
U.S. Momentum Factor ETF |
U.S. Quality Factor ETF |
U.S. Value Factor ETF |
Authorized Participant Concentration Risk |
• |
• |
• |
• |
• |
• |
• |
Concentration Risk |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
Currency Risk |
• |
|
|
|
|
|
|
Cyber Security Risk |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
Derivatives Risk |
• |
• |
• |
• |
• |
• |
• |
Equity Market Risk |
• |
• |
• |
• |
• |
• |
• |
Exchange-Traded Fund (ETF) and Other Investment Company Risk |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
Foreign Securities and Emerging Markets Risk |
• |
|
|
|
|
|
|
General Market Risk |
• |
• |
• |
• |
• |
• |
• |
Geographic Focus Risk |
• |
|
|
|
|
|
|
Index Related Risk |
• |
• |
• |
• |
• |
• |
• |
Industry and Sector Focus Risk |
• |
• |
• |
• |
• |
• |
• |
Large Cap Company Risk |
• |
• |
|
|
• |
• |
• |
Market Trading Risk |
• |
• |
• |
• |
• |
• |
• |
Momentum Investing Risk |
○ |
○ |
○ |
○ |
• |
|
|
Multiple Factor Strategy Risk |
○ |
○ |
○ |
○ |
|
|
|
Passive Management Risk |
• |
• |
• |
• |
• |
• |
• |
Preferred Securities Risk |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
Regulatory and Legal Risk |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
Risk of Investing in Quality Companies |
○ |
○ |
○ |
○ |
|
• |
|
Sampling Risk |
• |
• |
• |
• |
• |
• |
• |
Securities Lending Risk |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
Smaller Company Risk |
• |
• |
• |
• |
• |
• |
• |
Technology Sector Risk |
|
|
|
|
• |
• |
• |
Transactions and Liquidity Risk |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
Value Investing Risk |
○ |
○ |
○ |
○ |
|
|
• |
Volatility Risk |
|
|
|
|
|
|
|
Volcker Rule Risk |
○ |
○ |
○ |
○ |
○ |
○ |
○ |
WHAT IS A DERIVATIVE? |
Derivatives are securities or contracts (for example, futures) that derive their value from the performance of underlying assets or securities. |
JPMorgan BetaBuilders Canada ETF |
0.19% |
JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF |
0.19 |
JPMorgan BetaBuilders Europe ETF |
0.09 |
JPMorgan BetaBuilders International Equity ETF |
0.07 |
JPMorgan BetaBuilders Japan ETF |
0.19 |
JPMorgan BetaBuilders U.S. Equity ETF |
0.02 |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF |
0.07 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF |
0.09 |
JPMorgan Carbon Transition U.S. Equity ETF |
0.15 |
JPMorgan Diversified Return Emerging Markets Equity ETF |
0.44 |
JPMorgan Diversified Return International Equity ETF |
0.37 |
JPMorgan Diversified Return U.S. Equity ETF |
0.18 |
JPMorgan Diversified Return U.S. Mid Cap Equity ETF |
0.24 |
JPMorgan Diversified Return U.S. Small Cap Equity ETF |
0.29 |
JPMorgan U.S. Momentum Factor ETF |
0.12 |
JPMorgan U.S. Quality Factor ETF |
0.12 |
JPMorgan U.S. Value Factor ETF |
0.12 |
|
Per share operating performance | |||||
|
|
Investment operations |
Distributions | |||
|
Net asset value, beginning of period |
Net investment income (loss)(b) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
Total distributions |
JPMorgan BetaBuilders Canada ETF |
|
|
|
|
|
|
Year Ended October 31, 2022 |
$67.80 |
$1.59 |
$(10.53) |
$(8.94) |
$(1.56) |
$(1.56) |
Year Ended October 31, 2021 (k) |
45.99 |
1.38 |
21.78 |
23.16 |
(1.35) |
(1.35) |
Year Ended October 31, 2020 (k) |
49.78 |
1.29 |
(3.82) |
(2.53) |
(1.26) |
(1.26) |
Year Ended October 31, 2019 (k) |
45.19 |
1.31 |
4.47 |
5.78 |
(1.19) |
(1.19) |
August 7, 2018 (j) through October 31, 2018 (k) |
49.31 |
0.29 |
(4.31) |
(4.02) |
(0.10) |
(0.10) |
JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF (formerly known as JPMorgan BetaBuilders Developed Asia ex-Japan ETF) |
|
|
|
|
|
|
Year Ended October 31, 2022 |
56.89 |
2.12 |
(12.86) |
(10.74) |
(3.39) |
(3.39) |
Year Ended October 31, 2021 (k) |
44.97 |
2.44 |
11.48 |
13.92 |
(2.00) |
(2.00) |
Year Ended October 31, 2020 (k) |
50.63 |
1.58 |
(5.65) |
(4.07) |
(1.59) |
(1.59) |
Year Ended October 31, 2019 (k) |
45.36 |
2.10 |
5.17 |
7.27 |
(2.00) |
(2.00) |
August 7, 2018 (j) through October 31, 2018 (k) |
50.73 |
0.44 |
(5.48) |
(5.04) |
(0.33) |
(0.33) |
JPMorgan BetaBuilders Europe ETF |
|
|
|
|
|
|
Year Ended October 31, 2022 |
59.74 |
1.78 |
(15.31) |
(13.53) |
(2.60) |
(2.60) |
Year Ended October 31, 2021 (k) |
43.29 |
1.67 |
16.19 |
17.86 |
(1.41) |
(1.41) |
Year Ended October 31, 2020 (k) |
48.71 |
1.08 |
(5.43) |
(4.35) |
(1.07) |
(1.07) |
Year Ended October 31, 2019 (k) |
45.19 |
1.79 |
3.28 |
5.07 |
(1.55) |
(1.55) |
June 15, 2018 (j) through October 31, 2018 (k) |
49.58 |
0.26 |
(4.58) |
(4.32) |
(0.07) |
(0.07) |
JPMorgan BetaBuilders International Equity ETF |
|
|
|
|
|
|
Year Ended October 31, 2022 |
60.53 |
1.51 |
(15.16) |
(13.65) |
(2.16) |
(2.16) |
Year Ended October 31, 2021 |
46.20 |
1.67 |
14.10 |
15.77 |
(1.44) |
— |
December 3, 2019 (j) through October 31, 2020 |
49.79 |
1.05 |
(4.26)(i) |
(3.21) |
(0.38) |
— |
| |
(a) |
Annualized for periods less than one year, unless otherwise noted. |
(b) |
Calculated based upon average shares outstanding. |
(c) |
Not annualized for periods less than one year. |
(d) |
Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(e) |
Prior to December 9, 2019, 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 midpoint of the bid/ask spread at the close of business on the listing exchange of the fund. Effective December 9, 2019, the closing price was used to calculate the market price return; however, any prices used in the calculation for market price return prior to December 9, 2019, would have used the midpoint of the bid/ask spread at the close of business on the exchange. |
(f) |
Prior to November 1, 2019, the Fund may have waived fees if expenses exceeded the expense cap. On November 1, 2019, the Fund adopted a unitary fee structure where a management fee is accrued by the fund based on prior day net assets and other expenses are paid by the Advisor. |
(g) |
Since the Shares of the Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of secondary market trading, the net asset value is used as a proxy for the secondary market trading price to calculate the market returns. |
(h) |
Certain non-recurring expenses incurred by the Fund were not annualized for the period indicated. |
(i) |
Calculation of the net realized and unrealized gains (losses) per share do not correlate with the Fund’s net realized and unrealized gains (losses) presented in the Statement of Operations due to the timing of capital transactions in relation to the fluctuating market values of the Fund’s investments. |
(j) |
Commencement of operations. |
(k) |
Per share amounts reflects a 1:2 reverse stock split that occurred on April 12, 2021. See Note 1. |
|
Ratios/Supplemental data | |||||||
|
|
|
|
|
Ratios to average net assets (a) |
| ||
Net asset value, end of period |
Market price, end of period |
Total return (c)(d) |
Market price total return (c)(e) |
Net assets, end of period |
Net expenses |
Net investment income (loss) |
Expenses without waivers and reimbursements |
Portfolio turnover rate (c) |
|
|
|
|
|
|
|
|
|
$57.30 |
$57.35 |
(13.34)% |
(13.49)% |
$5,644,273,295 |
0.19% |
2.51% |
0.19% |
5% |
67.80 |
67.98 |
50.77 |
50.84 |
6,071,268,619 |
0.19 |
2.28 |
0.19 |
2 |
45.99 |
46.10 |
(4.98) |
(4.81) |
3,640,211,260 |
0.19 |
2.74 |
0.19 |
4 |
49.78 |
49.80 |
13.08 |
12.97 |
3,800,754,020 |
0.19 |
2.73 |
0.34(f) |
7 |
45.19 |
45.24 |
(8.18) |
(8.05)(g) |
2,044,698,826 |
0.19(h) |
2.55 |
0.37(f)(h) |
1 |
|
|
|
|
|
|
|
|
|
42.76 |
42.79 |
(19.60) |
(19.87) |
3,412,010,904 |
0.20 |
4.17 |
0.20 |
14 |
56.89 |
57.12 |
31.14 |
31.26 |
4,113,118,547 |
0.19 |
4.26 |
0.19 |
6 |
44.97 |
45.10 |
(7.87) |
(7.45) |
1,465,970,894 |
0.19 |
3.40 |
0.19 |
6 |
50.63 |
50.54 |
16.18 |
15.94 |
1,442,853,830 |
0.19 |
4.22 |
0.39(f) |
7 |
45.36 |
45.38 |
(9.97) |
(9.93)(g) |
603,313,934 |
0.19(h) |
3.94 |
0.45(f)(h) |
2 |
|
|
|
|
|
|
|
|
|
43.61 |
43.62 |
(23.01) |
(23.22) |
3,527,687,759 |
0.10 |
3.36 |
0.10 |
7 |
59.74 |
59.92 |
41.54 |
41.77 |
9,427,453,378 |
0.09 |
2.92 |
0.09 |
6 |
43.29 |
43.34 |
(8.92) |
(8.90) |
3,701,005,509 |
0.09 |
2.33 |
0.09 |
5 |
48.71 |
48.78 |
11.43 |
11.32 |
3,853,145,624 |
0.09 |
3.83 |
0.25(f) |
7 |
45.19 |
45.28 |
(8.75) |
(8.55)(g) |
1,314,930,292 |
0.09(h) |
1.45 |
0.34(f)(h) |
2 |
|
|
|
|
|
|
|
|
|
44.72 |
44.75 |
(23.02) |
(23.11) |
2,710,097,518 |
0.07 |
2.88 |
0.07 |
6 |
60.53 |
60.64 |
34.26 |
34.24 |
3,680,140,678 |
0.07 |
2.85 |
0.07 |
5 |
46.20 |
46.29 |
(6.45) |
(6.27)(g) |
1,866,670,302 |
0.07 |
2.40 |
0.07 |
8 |
|
Per share operating performance | |||||
|
|
Investment operations |
Distributions | |||
|
Net asset value, beginning of period |
Net investment income (loss)(b) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
Total distributions |
JPMorgan BetaBuilders Japan ETF |
|
|
|
|
|
|
Year Ended October 31, 2022 |
$57.16 |
$1.03 |
$(14.91) |
$(13.88) |
$(1.59) |
$(1.59) |
Year Ended October 31, 2021 (k) |
48.39 |
1.04 |
8.36 |
9.40 |
(0.63) |
— |
Year Ended October 31, 2020 (k) |
49.07 |
0.84 |
(0.39) |
0.45 |
(1.13) |
— |
Year Ended October 31, 2019 (k) |
45.45 |
0.97 |
2.93 |
3.90 |
(0.28) |
— |
June 15, 2018 (j) through October 31, 2018 (k) |
49.58 |
0.48 |
(4.61) |
(4.13) |
— |
— |
JPMorgan BetaBuilders U.S. Equity ETF |
|
|
|
|
|
|
Year Ended October 31, 2022 |
84.15 |
1.11 |
(14.86) |
(13.75) |
(1.02) |
(1.02) |
Year Ended October 31, 2021 |
59.59 |
1.02 |
24.48 |
25.50 |
(0.94) |
— |
Year Ended October 31, 2020 |
54.60 |
1.14 |
4.83 |
5.97 |
(0.98) |
— |
March 12, 2019 (j) through October 31, 2019 |
50.14 |
0.68 |
4.29 |
4.97 |
(0.51) |
— |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF |
|
|
|
|
|
|
Year Ended October 31, 2022 |
93.59 |
1.03 |
(19.57) |
(18.54) |
(0.99) |
(0.99) |
Year Ended October 31, 2021 |
64.16 |
0.90 |
29.27 |
30.17 |
(0.74) |
— |
April 14, 2020 (j) through October 31, 2020 |
50.78 |
0.33 |
13.32(i) |
13.65 |
(0.27) |
— |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF |
|
|
|
|
|
|
Year Ended October 31, 2022 |
67.49 |
0.77 |
(12.79) |
(12.02) |
(0.80) |
(0.80) |
November 16, 2020 (j) through October 31, 2021 |
51.27 |
0.62 |
16.04 |
16.66 |
(0.44) |
(0.44) |
JPMorgan Carbon Transition U.S. Equity ETF |
|
|
|
|
|
|
Year Ended October 31, 2022 |
62.33 |
0.77 |
(9.94) |
(9.17) |
(0.79) |
(0.79) |
December 9, 2020 (j) through October 31, 2021 |
49.29 |
0.63 |
12.95 |
13.58 |
(0.54) |
(0.54) |
JPMorgan Diversified Return Emerging Markets Equity ETF |
|
|
|
|
|
|
Year Ended October 31, 2022 |
56.99 |
2.21 |
(10.86) |
(8.65) |
(2.80) |
(2.80) |
Year Ended October 31, 2021 |
46.47 |
1.81 |
10.70 |
12.51 |
(1.99) |
— |
Year Ended October 31, 2020 |
54.43 |
1.46 |
(7.48) |
(6.02) |
(1.94) |
— |
Year Ended October 31, 2019 |
50.91 |
2.07 |
2.97 |
5.04 |
(1.52) |
— |
Year Ended October 31, 2018 |
57.15 |
1.59 |
(5.37) |
(3.78) |
(2.46) |
— |
| |
(a) |
Annualized for periods less than one year, unless otherwise noted. |
(b) |
Calculated based upon average shares outstanding. |
(c) |
Not annualized for periods less than one year. |
(d) |
Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(e) |
Prior to December 9, 2019, 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 midpoint of the bid/ask spread at the close of business on the listing exchange of the fund. Effective December 9, 2019, the closing price was used to calculate the market price return; however, any prices used in the calculation for market price return prior to December 9, 2019, would have used the midpoint of the bid/ask spread at the close of business on the exchange. |
(f) |
Prior to November 1, 2019, the Fund may have waived fees if expenses exceeded the expense cap. On November 1, 2019, the Fund adopted a unitary fee structure where a management fee is accrued by the fund based on prior day net assets and other expenses are paid by the Advisor. |
(g) |
Since the Shares of the Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of secondary market trading, the net asset value is used as a proxy for the secondary market trading price to calculate the market returns. |
(h) |
Certain non-recurring expenses incurred by the Fund were not annualized for the period indicated. |
(i) |
Calculation of the net realized and unrealized gains (losses) per share do not correlate with the Fund’s net realized and unrealized gains (losses) presented in the Statement of Operations due to the timing of capital transactions in relation to the fluctuating market values of the Fund’s investments. |
(j) |
Commencement of operations. |
(k) |
Per share amounts reflects a 1:2 reverse stock split that occurred on April 12, 2021. See Note 1. |
|
Ratios/Supplemental data | |||||||
|
|
|
|
|
Ratios to average net assets (a) |
| ||
Net asset value, end of period |
Market price, end of period |
Total return (c)(d) |
Market price total return (c)(e) |
Net assets, end of period |
Net expenses |
Net investment income (loss) |
Expenses without waivers and reimbursements |
Portfolio turnover rate (c) |
|
|
|
|
|
|
|
|
|
$41.69 |
$41.73 |
(24.96)% |
(24.95)% |
$6,211,237,563 |
0.19% |
2.10% |
0.19% |
4% |
57.16 |
57.21 |
19.47 |
18.98 |
7,864,537,853 |
0.19 |
1.83 |
0.19 |
3 |
48.39 |
48.64 |
0.87 |
1.24 |
5,323,035,447 |
0.19 |
1.77 |
0.19 |
5 |
49.07 |
49.14 |
8.74 |
9.07 |
4,318,521,919 |
0.19 |
2.14 |
0.33(f) |
4 |
45.45 |
45.36 |
(8.35) |
(8.51)(g) |
2,336,087,667 |
0.19(h) |
2.63 |
0.37(f)(h) |
5 |
|
|
|
|
|
|
|
|
|
69.38 |
69.42 |
(16.42) |
(16.33) |
1,276,523,608 |
0.02 |
1.47 |
0.02 |
4 |
84.15 |
84.11 |
43.02 |
42.97 |
782,605,972 |
0.02 |
1.34 |
0.02 |
4 |
59.59 |
59.58 |
11.09 |
11.05 |
238,372,575 |
0.02 |
1.99 |
0.02 |
4 |
54.60 |
54.61 |
9.95 |
9.97(g) |
46,409,125 |
0.02 |
2.01 |
0.02 |
3 |
|
|
|
|
|
|
|
|
|
74.06 |
73.92 |
(19.87) |
(20.10) |
1,390,564,346 |
0.07 |
1.29 |
0.07 |
30 |
93.59 |
93.68 |
47.15 |
47.52 |
1,698,624,114 |
0.07 |
1.05 |
0.07 |
27 |
64.16 |
64.06 |
26.91 |
26.71(g) |
988,131,953 |
0.07 |
0.91 |
0.07 |
7 |
|
|
|
|
|
|
|
|
|
54.67 |
54.38 |
(17.87) |
(18.39) |
494,762,260 |
0.09 |
1.35 |
0.09 |
30 |
67.49 |
67.56 |
32.56 |
32.70(g) |
442,061,490 |
0.09 |
0.98 |
0.09 |
27 |
|
|
|
|
|
|
|
|
|
52.37 |
52.38 |
(14.79) |
(14.79) |
20,947,681 |
0.15 |
1.35 |
0.15 |
16 |
62.33 |
62.34 |
27.68 |
27.70(g) |
24,933,394 |
0.15 |
1.26 |
0.15 |
27 |
|
|
|
|
|
|
|
|
|
45.54 |
45.81 |
(15.61) |
(15.20) |
163,926,226 |
0.44 |
4.19 |
0.44 |
33 |
56.99 |
57.05 |
26.93 |
27.80 |
153,882,748 |
0.44 |
3.18 |
0.44 |
29 |
46.47 |
46.21 |
(11.20) |
(11.80) |
213,760,142 |
0.44 |
2.97 |
0.44 |
26 |
54.43 |
54.50 |
10.00 |
10.31 |
353,795,416 |
0.45 |
3.87 |
0.87(f) |
51 |
50.91 |
50.83 |
(6.93) |
(7.43) |
213,804,252 |
0.45 |
2.80 |
0.96(f) |
53 |
|
Per share operating performance | |||||
|
|
Investment operations |
Distributions | |||
|
Net asset value, beginning of period |
Net investment income (loss)(b) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
Total distributions |
JPMorgan Diversified Return International Equity ETF |
|
|
|
|
|
|
Year Ended October 31, 2022 |
$61.02 |
$1.91 |
$(15.62) |
$(13.71) |
$(2.87) |
$(2.87) |
Year Ended October 31, 2021 |
49.84 |
1.91 |
11.03 |
12.94 |
(1.76) |
— |
Year Ended October 31, 2020 |
55.06 |
1.35 |
(5.01) |
(3.66) |
(1.56) |
— |
Year Ended October 31, 2019 |
53.10 |
1.77 |
1.90 |
3.67 |
(1.71) |
— |
Year Ended October 31, 2018 |
59.18 |
1.51 |
(5.29) |
(3.78) |
(2.30) |
— |
JPMorgan Diversified Return U.S. Equity ETF |
|
|
|
|
|
|
Year Ended October 31, 2022 |
101.43 |
2.16 |
(7.56) |
(5.40) |
(2.09) |
(2.09) |
Year Ended October 31, 2021 |
73.52 |
1.71 |
27.76 |
29.47 |
(1.56) |
— |
Year Ended October 31, 2020 |
76.44 |
1.65 |
(2.82) |
(1.17) |
(1.75) |
— |
Year Ended October 31, 2019 |
69.92 |
1.66 |
6.34 |
8.00 |
(1.48) |
— |
Year Ended October 31, 2018 |
68.52 |
1.39 |
1.88 |
3.27 |
(1.87) |
— |
JPMorgan Diversified Return U.S. Mid Cap Equity ETF |
|
|
|
|
|
|
Year Ended October 31, 2022 |
92.23 |
1.60 |
(8.73) |
(7.13) |
(1.50) |
(1.50) |
Year Ended October 31, 2021 |
64.77 |
1.30 |
27.36 |
28.66 |
(1.20) |
(1.20) |
Year Ended October 31, 2020 |
67.13 |
1.18 |
(2.38) |
(1.20) |
(1.16) |
(1.16) |
Year Ended October 31, 2019 |
62.24 |
1.18 |
4.78 |
5.96 |
(1.07) |
(1.07) |
Year Ended October 31, 2018 |
62.06 |
1.06 |
0.59 |
1.65 |
(1.47) |
(1.47) |
JPMorgan Diversified Return U.S. Small Cap Equity ETF |
|
|
|
|
|
|
Year Ended October 31, 2022 |
45.20 |
0.64 |
(5.41) |
(4.77) |
(0.58) |
(0.58) |
Year Ended October 31, 2021 |
28.87 |
0.46 |
16.35 |
16.81 |
(0.48) |
(0.48) |
Year Ended October 31, 2020 |
30.84 |
0.44 |
(2.01) |
(1.57) |
(0.40) |
(0.40) |
Year Ended October 31, 2019 |
29.58 |
0.42 |
1.22 |
1.64 |
(0.38) |
(0.38) |
Year Ended October 31, 2018 |
28.95 |
0.33 |
0.73 |
1.06 |
(0.43) |
(0.43) |
JPMorgan U.S. Momentum Factor ETF |
|
|
|
|
|
|
Year Ended October 31, 2022 |
47.71 |
0.50 |
(9.53) |
(9.03) |
(0.46) |
(0.46) |
Year Ended October 31, 2021 |
33.68 |
0.34 |
14.00 |
14.34 |
(0.31) |
— |
Year Ended October 31, 2020 |
29.04 |
0.35 |
4.63 |
4.98 |
(0.34) |
— |
Year Ended October 31, 2019 |
25.98 |
0.37 |
2.99 |
3.36 |
(0.30) |
— |
November 8, 2017 (i) through October 31, 2018 |
25.00 |
0.35 |
0.95 |
1.30 |
(0.32) |
— |
| |
(a) |
Annualized for periods less than one year, unless otherwise noted. |
(b) |
Calculated based upon average shares outstanding. |
(c) |
Not annualized for periods less than one year. |
(d) |
Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(e) |
Prior to December 9, 2019, 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 midpoint of the bid/ask spread at the close of business on the listing exchange of the fund. Effective December 9, 2019, the closing price was used to calculate the market price return; however, any prices used in the calculation for market price return prior to December 9, 2019, would have used the midpoint of the bid/ask spread at the close of business on the exchange. |
(f) |
Prior to November 1, 2019, the Fund may have waived fees if expenses exceeded the expense cap. On November 1, 2019, the Fund adopted a unitary fee structure where a management fee is accrued by the fund based on prior day net assets and other expenses are paid by the Advisor. |
(g) |
Since the Shares of the Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of secondary market trading, the net asset value is used as a proxy for the secondary market trading price to calculate the market returns. |
(h) |
Certain non-recurring expenses incurred by the Fund were not annualized for the period indicated. |
(i) |
Commencement of operations. |
|
Ratios/Supplemental data | |||||||
|
|
|
|
|
Ratios to average net assets (a) |
| ||
Net asset value, end of period |
Market price, end of period |
Total return (c)(d) |
Market price total return (c)(e) |
Net assets, end of period |
Net expenses |
Net investment income (loss) |
Expenses without waivers and reimbursements |
Portfolio turnover rate (c) |
|
|
|
|
|
|
|
|
|
$44.44 |
$44.54 |
(23.25)% |
(23.15)% |
$671,062,140 |
0.37% |
3.59% |
0.37% |
28% |
61.02 |
61.08 |
26.00 |
26.08 |
842,016,222 |
0.37 |
3.14 |
0.37 |
35 |
49.84 |
49.86 |
(6.72) |
(6.62) |
867,200,124 |
0.37 |
2.61 |
0.37 |
23 |
55.06 |
55.02 |
7.05 |
7.23 |
1,282,867,303 |
0.38 |
3.27 |
0.41(f) |
25 |
53.10 |
52.98 |
(6.72) |
(7.22) |
1,444,332,261 |
0.40 |
2.57 |
0.44(f) |
28 |
|
|
|
|
|
|
|
|
|
93.94 |
94.05 |
(5.36) |
(5.28) |
507,282,453 |
0.18 |
2.18 |
0.18 |
22 |
101.43 |
101.46 |
40.36 |
40.44 |
710,012,574 |
0.18 |
1.86 |
0.18 |
33 |
73.52 |
73.50 |
(1.40) |
(1.44) |
536,709,641 |
0.18 |
2.26 |
0.18 |
21 |
76.44 |
76.45 |
11.65 |
11.65 |
802,625,997 |
0.19 |
2.27 |
0.37(f) |
24 |
69.92 |
69.93 |
4.74 |
4.70 |
559,362,329 |
0.19 |
1.95 |
0.41(f) |
32 |
|
|
|
|
|
|
|
|
|
83.60 |
83.55 |
(7.78) |
(7.90) |
267,520,530 |
0.24 |
1.82 |
0.24 |
24 |
92.23 |
92.30 |
44.51 |
44.73 |
239,808,712 |
0.24 |
1.57 |
0.24 |
34 |
64.77 |
64.72 |
(1.66) |
(1.79) |
220,207,846 |
0.24 |
1.86 |
0.24 |
28 |
67.13 |
67.17 |
9.73 |
9.780 |
187,973,791 |
0.24 |
1.82 |
0.43(f) |
25 |
62.24 |
62.25 |
2.59 |
2.57 |
112,028,180 |
0.24 |
1.64 |
0.50(f) |
35 |
|
|
|
|
|
|
|
|
|
39.85 |
39.93 |
(10.59) |
(10.49) |
286,932,997 |
0.29 |
1.55 |
0.29 |
26 |
45.20 |
45.24 |
58.49 |
58.25 |
176,262,186 |
0.29 |
1.13 |
0.29 |
37 |
28.87 |
28.94 |
(4.99) |
(4.85) |
148,672,825 |
0.29 |
1.54 |
0.29 |
30 |
30.84 |
30.87 |
5.64 |
5.75 |
140,343,327 |
0.29 |
1.40 |
0.54(f) |
43 |
29.58 |
29.58 |
3.61 |
3.43 |
96,135,254 |
0.29 |
1.08 |
0.61(f) |
30 |
|
|
|
|
|
|
|
|
|
38.22 |
38.25 |
(18.97) |
(18.86) |
229,323,118 |
0.12 |
1.20 |
0.12 |
43 |
47.71 |
47.68 |
42.72 |
42.38 |
221,858,171 |
0.12 |
0.80 |
0.12 |
44 |
33.68 |
33.74 |
17.33 |
17.50 |
134,743,086 |
0.12 |
1.11 |
0.12 |
39 |
29.04 |
29.05 |
13.06 |
13.06 |
56,620,589 |
0.12 |
1.35 |
0.55(f) |
52 |
25.98 |
25.99 |
5.17 |
5.21(g) |
28,575,370 |
0.12(g) |
1.32 |
0.74(f)(h) |
44 |
|
Per share operating performance | |||||
|
|
Investment operations |
Distributions | |||
|
Net asset value, beginning of period |
Net investment income (loss)(b) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
Total distributions |
JPMorgan U.S. Quality Factor ETF |
|
|
|
|
|
|
Year Ended October 31, 2022 |
$43.45 |
$0.66 |
$(5.34) |
$(4.68) |
$(0.63) |
$(0.63) |
Year Ended October 31, 2021 |
31.53 |
0.60 |
11.91 |
12.51 |
(0.59) |
— |
Year Ended October 31, 2020 |
29.74 |
0.56 |
1.70 |
2.26 |
(0.47) |
— |
Year Ended October 31, 2019 |
26.56 |
0.58 |
3.11 |
3.69 |
(0.51) |
— |
November 8, 2017 (i) through October 31, 2018 |
25.00 |
0.52 |
1.52 |
2.04 |
(0.48) |
— |
JPMorgan U.S. Value Factor ETF |
|
|
|
|
|
|
Year Ended October 31, 2022 |
37.09 |
0.80 |
(4.19) |
(3.39) |
(0.80) |
(0.80) |
Year Ended October 31, 2021 |
24.99 |
0.72 |
12.03 |
12.75 |
(0.65) |
— |
Year Ended October 31, 2020 |
27.29 |
0.77 |
(2.29) |
(1.52) |
(0.78) |
— |
Year Ended October 31, 2019 |
25.21 |
0.75 |
1.97 |
2.72 |
(0.64) |
— |
November 8, 2017 (i) through October 31, 2018 |
25.00 |
0.64 |
0.16 |
0.80 |
(0.59) |
— |
| |
(a) |
Annualized for periods less than one year, unless otherwise noted. |
(b) |
Calculated based upon average shares outstanding. |
(c) |
Not annualized for periods less than one year. |
(d) |
Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(e) |
Prior to December 9, 2019, 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 midpoint of the bid/ask spread at the close of business on the listing exchange of the fund. Effective December 9, 2019, the closing price was used to calculate the market price return; however, any prices used in the calculation for market price return prior to December 9, 2019, would have used the midpoint of the bid/ask spread at the close of business on the exchange. |
(f) |
Prior to November 1, 2019, the Fund may have waived fees if expenses exceeded the expense cap. On November 1, 2019, the Fund adopted a unitary fee structure where a management fee is accrued by the fund based on prior day net assets and other expenses are paid by the Advisor. |
(g) |
Since the Shares of the Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of secondary market trading, the net asset value is used as a proxy for the secondary market trading price to calculate the market returns. |
(h) |
Certain non-recurring expenses incurred by the Fund were not annualized for the period indicated. |
(i) |
Commencement of operations. |
|
Ratios/Supplemental data | |||||||
|
|
|
|
|
Ratios to average net assets (a) |
| ||
Net asset value, end of period |
Market price, end of period |
Total return (c)(d) |
Market price total return (c)(e) |
Net assets, end of period |
Net expenses |
Net investment income (loss) |
Expenses without waivers and reimbursements |
Portfolio turnover rate (c) |
|
|
|
|
|
|
|
|
|
$38.14 |
$38.16 |
(10.84)% |
(10.85)% |
$579,728,107 |
0.12% |
1.64% |
0.12% |
18% |
43.45 |
43.48 |
39.97 |
40.02 |
393,204,091 |
0.12 |
1.56 |
0.12 |
21 |
31.53 |
31.54 |
7.72 |
7.68 |
384,671,209 |
0.12 |
1.81 |
0.12 |
20 |
29.74 |
29.76 |
14.10 |
14.18 |
107,067,872 |
0.12 |
2.05 |
0.50(f) |
21 |
26.56 |
26.56 |
8.15 |
8.15(f) |
29,215,267 |
0.12(h) |
2.01 |
0.74(f)(h) |
22 |
|
|
|
|
|
|
|
|
|
32.90 |
32.88 |
(9.21) |
(9.24) |
444,083,720 |
0.12 |
2.28 |
0.12 |
21 |
37.09 |
37.08 |
51.38 |
51.88 |
400,579,487 |
0.12 |
2.01 |
0.12 |
34 |
24.99 |
24.90 |
(5.39) |
(5.76) |
62,468,155 |
0.12 |
2.99 |
0.12 |
25 |
27.29 |
27.30 |
11.01 |
11.05 |
66,849,642 |
0.12 |
2.90 |
0.52(f) |
22 |
25.21 |
25.21 |
3.12 |
3.12(f) |
28,986,509 |
0.12(h) |
2.52 |
0.75(f)(h) |
26 |
|
Ticker |
Listing Exchange |
JPMorgan Climate Change Solutions ETF |
TEMP |
NYSE Arca |
JPMorgan Social Advancement ETF |
UPWD |
The Nasdaq Stock Market® LLC |
JPMorgan Sustainable Consumption ETF |
CIRC |
The Nasdaq Stock Market® LLC |
JPMorgan Sustainable Infrastructure ETF |
BLLD |
The Nasdaq Stock Market® LLC |
| |
Management Fees |
|
Total Annual Fund Operating Expenses |
|
| ||||
|
1 Year |
3 Years |
5 Years |
10 Years |
SHARES ($) |
|
|
|
|
|
|
|
|
|
|
|
| ||
|
Past |
Life of Fund since |
|
1 Year |
|
SHARES |
|
|
Return Before Taxes |
- |
- |
Return After Taxes on Distributions |
- |
- |
Return After Taxes on Distributions and Sale of Fund Shares |
- |
- |
MSCI ACWI INDEX (Net Total Return) (Reflects No Deduction for Fees, Expenses, or Taxes, Except Foreign Withholding Taxes) |
- |
- |
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Yazann Romahi |
2021 |
Managing Director |
Francesco Conte |
2021 |
Managing Director |
Sara Bellenda |
2021 |
Executive Director |
| |
Management Fees |
|
Total Annual Fund Operating Expenses |
|
| ||
|
1 Year |
3 Years |
SHARES ($) |
|
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Rajesh Tanna |
2022 |
Managing Director |
Jennifer Rabowsky |
2022 |
Vice President |
Bilquis Ahmed |
2022 |
Executive Director |
| |
Management Fees |
|
Total Annual Fund Operating Expenses |
|
| ||
|
1 Year |
3 Years |
SHARES ($) |
|
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Sandeep Bhargava |
2022 |
Managing Director |
Aijaz Hussain |
2022 |
Vice President |
Polina Diyachkina |
2022 |
Executive Director |
| |
Management Fees |
|
Total Annual Fund Operating Expenses |
|
| ||
|
1 Year |
3 Years |
SHARES ($) |
|
|
Portfolio Manager |
Managed the Fund Since |
Primary Title with Investment Adviser |
Sara Bellenda |
2022 |
Executive Director |
Wei (Victor) Li |
2022 |
Executive Director |
Fred Barasi |
2022 |
Managing Director |
Description of Sub-Theme |
Examples of Products and Services |
Sustainable Transportation – Companies that the adviser believes are investing in sustainable forms of transportation across automobiles, trains and planes. |
Companies that the adviser believes are developing electric vehicles and/or electric vehicle infrastructure, including electric vehicle charging stations, electric vehicle components and software, electric vehicle batteries, and hydrogen related to transport providers. |
Sustainable Construction – Companies that the adviser believes are developing less carbon-intense forms of construction, including energy efficiency of buildings and cement and steel construction. |
Companies that the adviser believes are producing or providing air-conditioning and heating products/systems, LED lighting, insulation products and solutions, building management systems and software, efficient electrical and home appliances, design and consulting services linked to sustainable development of buildings, green steel, timber and cement. Companies that the adviser believes are focusing on companies pursuing new methods of construction and/or seeking to enable energy efficiency in buildings. |
Description of Sub-Theme |
Examples of Products and Services |
Sustainable Food and Water – Companies that the adviser believes are investing in less carbon-intense forms of agriculture, sustainable food, or clean water. |
Companies that the adviser believes are developing, providing, and/or promoting sustainable agricultural practices, efficient food processes, food testing and safety services, animal health and nutrition solutions, alternative farming solutions, and reforestation. Companies that the adviser believes are focused on sustainable agriculture processes such as precision agriculture technology. Companies that the adviser believes are developing food alternative solutions (e.g. meat/dairy alternatives), protein substitutes, and sustainable packaging (e.g. bioplastics). Companies that the adviser believes are developing and/or providing water recycling equipment and services, liquid and water filtration and purification solutions, water treatment/usage solutions and service providers, and water utilities. |
Renewable Energy and Electrification – Companies that the adviser believes are developing less carbon intensive energy such as wind, solar, or hydro across the full production chain or that are advancing energy efficiency or enhancing electrification. |
Companies that the adviser believes are generating renewable energy such as wind, solar, and hydro power generation. Companies that the adviser believes are providing the equipment for the production of renewable energy, such as wind turbine and solar equipment suppliers. Companies that the adviser believes are enabling the electrification of the economy, including those that provide equipment and/or software used in power management, inverters and other hardware needed in the electrification process, batteries for energy storage, photovoltaic and solar cells, and cable and other items used electricity networks or for electricity transmission and distribution. Companies that the adviser believes are focused on the generation of renewable materials, including hydrogen generators and copper, zinc, wood, and timber producers. |
Recycling and Re-Use – Companies that the adviser believes are developing technologies to reduce waste, including equipment and materials recycling. |
Companies providing enabling technologies and solutions such as waste collection and recycling, metal recycling, battery recycling, plastic and paper recycling, reverse- vending, and engineering and construction solutions for waste and environmental. Companies that use recycled or reusable inputs to create goods. Companies that the adviser believes are developing carbon capture solutions. |
Description of Sub-Theme |
Examples of Products and Services |
Essential Amenities – Companies that the adviser believes are providing products or solutions for basic human needs such as food, sanitation, utility services and baby care products. |
Essential amenities related to food include companies that the adviser believes are providing access to basic food items at low cost (e.g., convenience store operators) and companies endeavoring to increase the consumption of nutritious food (e.g., vitamin manufacturers). Companies related to sanitation include companies that the adviser believes are providing access to basic sanitation and personal care products to underserved populations or innovating to provide better quality products. Companies related to utility services include companies that the adviser believes are providing access to basic utilities, including water and electricity or focusing on pest control and management, waste management, and general sanitation. Essential amenities related to baby care include companies that the adviser believes are providing affordable baby care products or innovating to provide products that help with child development. |
Affordable Housing and Infrastructure – Companies that the adviser believes are investing in housing or infrastructure for all socioeconomic levels. |
Companies that the adviser believes promote affordable housing (e.g., develop or manage single-family and multi- family rental homes, or retirement communities, or modular homes or factory-built housing or manufacture construction materials or inputs into affordable housing, such as housing insulation or other component goods). Companies that the adviser believes enhance public infrastructure (e.g., civil engineering, or support or management of road and rail infrastructure). |
Healthcare and Wellbeing – Companies that the adviser believes are investing in and providing solutions for physical and mental health and wellness. |
Companies that the adviser believes are providing hospital services and managed care, and companies providing healthcare solutions, including pharmaceuticals related to obesity, diabetes, cancer, and respiratory illness. Telemedicine and e-health companies that the adviser believes are providing accessible medical care for the broader population. Companies that the adviser believes provide wellbeing solutions, including athletic and sporting equipment and clothing and gyms. Companies investing in creating medical technologies. |
Education and Training Talent – Companies that the adviser believes are providing educational materials and platforms to all levels of society or helping to provide skills to populations. |
Companies that the adviser believes are providing sustainable student loans and education focused on accessing underserved/minority populations across ages. Companies that the adviser believes are providing digital education, continuing education, and talent training for employment. |
Description of Sub-Theme |
Examples of Products and Services |
Attainable Financing – Companies that the adviser believes are providing financial services to individuals at all socioeconomic levels or microfinancing solutions. |
Companies including digital and banks (such as banks that offer digital banking solutions that help streamline retail banking and/or offer competition to traditional retail banks), that the adviser believes are providing microfinancing or affordable lending specifically to banking deserts and underserved communities and companies with majority of lending to small businesses. Companies that the adviser believes enable digital finance, including money management, mobile money, and accessible/efficient payment processing. Insurance companies that the adviser believes are focusing on life and health insurance, catastrophe insurance, disability insurance and renter’s insurance. |
Accessing the Digital Ecosystem – Companies that the adviser believes are facilitating digital access through hardware, software or platform infrastructure. |
Companies that the adviser believes are providing internet access, specifically low-cost offerings to combat the digital divide via providing services in underserved populations, including in rural communities. Semiconductor companies, and other hardware companies that the adviser believes make up component parts for digital access. Companies that the adviser believes are providing overall protection, including cyber and digital protection. |
Description of Sub-Theme |
Examples of Products and Services |
Sustainable Water Systems – Companies that the adviser believes are providing sustainable water solutions, including water purification, waste water management and water sanitation as well as companies contributing to water conservation and industrial water recycling. |
Companies that the adviser believes provide industrial water treatment or purification equipment and solutions. Companies that the adviser believes reduce domestic water usage through residential and drinking water equipment and other technology. Companies that the adviser believes engaged in the development and building of water supply systems, which leverage technology to lower water usage, reduce water leakage, and optimize water use. |
Description of Sub-Theme |
Examples of Products and Services |
Sustainable Agriculture and Food – Companies that the adviser believes are focused on sustainable agricultural processes such as precision agriculture technology, alternative farming and efficient food processes as well as companies that the adviser believes are focused on sustainable food practices such as developing plant-based alternatives and organic and diverse food options. |
Companies that the adviser believes are providing precision agriculture solutions that improve farm yield, minimize the use of water resources, limit the use of pesticides & fertilizers that can contaminate land and water resources. Companies that the adviser believes promote more efficient farming practices (e.g. intercropping, regenerative agriculture, and agroforestry). Companies that the adviser believes focus on vertical farming to limit the use of soil and water resources. Companies that the adviser believes improve efficiency in the storage, preparation and distribution of food and agriculture produce. Companies that the adviser believes are providing disease and drought-resistant seeds and plant solutions. Companies with technologies and products that the adviser believes replace meat and dairy with plant-based products. |
Sustainable Production Technologies – Companies that the adviser believes are facilitating the reduction of waste and minimizing use of natural resources by enabling technologies, improving operating efficiency, improving utilization of existing products, or shortening product design cycles. |
Companies that the adviser believes are improving productivity and efficiency of factory operations by greater use of automated tools and processes that optimize resource use, reduce resource-costly errors, reduce over-ordering of raw materials, enable better demand forecasting, and reduce waste. Companies with technology and simulation solutions that the adviser believes are directly shortening development time for new products, reducing the use of materials, and leading to more efficient use of natural resources. Companies that the adviser believes are providing autonomous software solutions aimed at improving utilization of transport assets, reduce waste, downtime, and improved resource use in supply chain management. Companies that the adviser believes are reducing waste and natural resource use in the healthcare sector through preventative initiatives and diagnostic tools and improving medical systems design to enhance efficiency. |
Sustainable Materials and Design – Companies that the adviser believes are focused on production and use of renewable, recyclable and environmentally friendly materials, including responsible forest management, sustainable packaging solutions, and sustainable design technologies. |
Companies in the forest management and lumber industries that the adviser believes provide sustainable forestry practices. Companies whose packaging solutions emphasize recycled and biodegradable inputs. Companies with technology solutions and sustainable materials that the adviser believes limit the use of natural resources in construction, lower energy consumption, reduce the need for frequent maintenance and repair. Companies that the adviser believes have a focus on sustainable textile materials, dyes, and production methods. Companies that the adviser believes have a focus on renewable, biodegradable fuel/energy from agricultural, industrial, and consumer waste. |
Description of Sub-Theme |
Examples of Products and Services |
Recycling and Re-Use – Companies that the adviser believes are focused on recycling, particularly of plastic and metal products, waste management companies contributing to reduction of landfill waste, and companies facilitating re-use of consumer products and machinery. |
Industrial and municipal waste service providers that the adviser believes increase share of recycling and improve safety in disposing of hazardous waste and/or waste that cannot be recycled. Companies offering recycling solutions that the adviser believes reduce waste, lower the need to fell trees, preserving forests, address environment contamination by plastics, and lower the need for mining new raw materials and platform technology solution providers for used-products sale, product leasing, car-sharing, multi-type passenger transportation. Companies that the adviser believes are providing equipment and technology solutions for service providers in waste collection and recycling. |
Description of Sub-Theme |
Examples of Products and Services |
Electricity Infrastructure – Companies that the adviser believes are providing network and storage infrastructure. |
Companies that the adviser believes are investing in or operating electricity networks (e.g. electric utilities companies connecting new renewable energy generation to the electricity grid or reinforcing local networks to support electric vehicle charging). Companies that the adviser believes are developing energy storage solutions (e.g. manufacturers of battery systems to manage the intermittency of renewable energy generation). Companies that the adviser believes are developing or offering smart grids and smart meters to the utility industry. |
Renewables Infrastructure – Companies that the adviser believes are developing infrastructure to support clean or renewable energy. |
Companies that the adviser believes are engaging in the development, construction, and/or operation of assets that generate renewable electricity from wind, solar, hydro or other renewable sources (e.g. electric utility companies). |
Transport Infrastructure – Companies that the adviser believes are providing transportation-related infrastructure such as railways. |
Companies that the adviser believes operate or develop public transit, commuter, and freight railroad networks, urban toll-road networks, or underlying infrastructure components, with focus on fuel efficiency and social, environmental, and economic considerations. Companies that the adviser believes develop or operate electric vehicle (EV) charging stations and charging networks. |
Description of Sub-Theme |
Examples of Products and Services |
Water Infrastructure – Companies that the adviser believes are investing in water infrastructure such as water treatment and purification. |
Companies that the adviser believes provide the infrastructure to support both clean and waste water services spanning water treatment and purification facilities and water networks and pipes (e.g. water utility companies). Companies that the adviser believes promote the re-use and recycling of waste water (e.g. water utility companies). |
Digital Infrastructure – Companies that the adviser believes are developing and investing in digital infrastructure such as data storage. |
Companies that the adviser believes own, operate, and/or develop data centers or cellular towers. Companies that the adviser believes own or operate communication systems to transport data between the internet and subnetworks. Companies that the adviser believes are involved in the development or operating of broadband, fiber, and network infrastructure. Companies whose assets the adviser believes facilitate 5G roll-out. |
Sustainable Logistics – Companies that the adviser believes are providing sustainable logistics solutions, including logistics warehouses, sorting centers and facilities that facilitate the movement of goods from a transportation hub to the final delivery destination. |
Companies that the adviser believes own or operate environmentally-friendly distribution facilities or sorting centers. Companies that the adviser believes provide logistics, order tracking, supply chain management, or warehousing services. |
Medical Infrastructure – Companies that the adviser believes are investing in medical infrastructure and healthcare facilities, including senior living. |
Companies that own or operate hospitals and health centers. Companies that own or operate community healthcare facilities and other medical infrastructure. Companies that own or operate assisted living facilities and nursing homes. |
Social Housing and Education Infrastructure – Companies that the adviser believes are focused on providing access to affordable housing and education. |
Companies that the adviser believes facilitate the development or rental of housing stock at affordable prices. Companies that the adviser believes are involved in student housing and accommodation. |
NON-FUNDAMENTAL INVESTMENT OBJECTIVES |
An investment objective is fundamental if it cannot be changed without the consent of a majority of the outstanding Shares of each Fund. Each Fund’s investment objective is not fundamental and may be changed without the consent of a majority of the outstanding Shares of the Fund. |
|
Climate Change Solutions ETF |
Social Advancement ETF |
Sustainable Consumption ETF |
Sustainable Infrastructure ETF |
Attainable Financing Risk |
|
• |
|
|
Authorized Participant Concentration Risk |
• |
• |
• |
• |
Climate Change Solutions Investment Focus Risk |
• |
|
|
|
Currency Risk |
• |
• |
• |
• |
Cyber Security Risk |
○ |
○ |
○ |
○ |
Derivatives Risk |
• |
• |
• |
• |
Equity Market Risk |
• |
• |
• |
• |
Foreign Securities and Emerging Markets Risk |
• |
• |
• |
• |
General Market Risk |
• |
• |
• |
• |
Geographic Focus Risk |
• |
• |
• |
• |
Industry and Sector Focus Risk |
• |
• |
• |
• |
Market Trading Risk |
• |
• |
• |
• |
New Fund Risk |
○ |
○ |
○ |
○ |
Non-Diversified Fund Risk |
• |
• |
• |
• |
Real Estate Securities Risk |
|
• |
• |
• |
Regulatory and Legal Risk |
○ |
○ |
○ |
○ |
Securities Lending Risk |
○ |
○ |
○ |
○ |
Smaller Company Risk |
• |
• |
• |
• |
|
Climate Change Solutions ETF |
Social Advancement ETF |
Sustainable Consumption ETF |
Sustainable Infrastructure ETF |
Social Advancement Investment Focus Risk |
|
• |
|
|
Sustainable Consumption Investment Focus Risk |
|
|
• |
|
Sustainable Infrastructure Investment Focus Risk |
|
|
|
• |
Thematic Investing Risk |
• |
• |
• |
• |
Transactions and Liquidity Risk |
○ |
○ |
○ |
○ |
Volcker Rule Risk |
○ |
○ |
○ |
○ |
WHAT IS A DERIVATIVE? |
Derivatives are securities or contracts (for example, futures and options) that derive their value from the performance of underlying assets or securities. |
WHAT IS A CASH EQUIVALENT? |
Cash equivalents are highly liquid, high-quality instruments with maturities of three months or less on the date they are purchased. They include securities issued by the U.S. government, its agencies and instrumentalities, repurchase agreements, certificates of deposit, bankers’ acceptances, commercial paper, money market mutual funds, and bank deposit accounts. |
JPMorgan Climate Change Solutions ETF |
0.49% |
JPMorgan Social Advancement ETF |
0.49 |
JPMorgan Sustainable Consumption ETF |
0.49 |
JPMorgan Sustainable Infrastructure ETF |
0.49 |
|
Per share operating performance | |||||
|
|
Investment operations |
Distributions | |||
|
Net asset value, beginning of period |
Net investment income (loss)(b) |
Net realized and unrealized gains (losses) on investments |
Total from investment operations |
Net investment income |
Total distributions |
JPMorgan Climate Change Solutions ETF |
|
|
|
|
|
|
December 13, 2021 (f) through October 31, 2022 |
$48.00 |
$0.43 |
$(12.84) |
$(12.41) |
$(0.03) |
$(0.03) |
JPMorgan Social Advancement ETF |
|
|
|
|
|
|
September 7, 2022 (f) through October 31, 2022 |
48.00 |
0.07 |
(0.72) |
(0.65) |
— |
— |
JPMorgan Sustainable Consumption ETF |
|
|
|
|
|
|
September 7, 2022 (f) through October 31, 2022 |
48.00 |
0.04 |
(1.04) |
(1.00) |
— |
— |
JPMorgan Sustainable Infrastructure ETF |
|
|
|
|
|
|
September 7, 2022 (f) through October 31, 2022 |
48.00 |
0.04 |
(5.08) |
(5.04) |
— |
— |
| |
(a) |
Annualized for periods less than one year, unless otherwise noted. |
(b) |
Calculated based upon average shares outstanding. |
(c) |
Not annualized for periods less than one year. |
(d) |
Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(e) |
Market price return was calculated assuming an initial investment made at the market price at the beginning of the reporting period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. The closing price was used to calculate the market price return. |
(f) |
Commencements of operations |
(g) |
Since the Shares of the Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of secondary market trading, the net asset value is used as a proxy for the secondary market trading price to calculate the market returns. |
|
Ratios/Supplemental data | ||||||
|
|
|
|
|
Ratios to average net assets (a) |
| |
Net asset value, end of period |
Market price, end of period |
Total return (c)(d) |
Market price total return (c)(e) |
Net assets, end of period |
Net expenses |
Net investment income (loss) |
Portfolio turnover rate (c) |
|
|
|
|
|
|
|
|
$35.56 |
$35.71 |
(25.87)% |
(25.56)%(g) |
$19,560,686 |
0.49% |
1.26% |
32% |
|
|
|
|
|
|
|
|
47.35 |
47.44 |
(1.35) |
(1.17)(g) |
10,653,044 |
0.49 |
1.00 |
6 |
|
|
|
|
|
|
|
|
47.00 |
47.15 |
(2.08) |
(1.77)(g) |
10,575,739 |
0.49 |
0.66 |
1 |
|
|
|
|
|
|
|
|
42.96 |
43.06 |
(10.50) |
(10.29)(g) |
9,665,086 |
0.49 |
0.64 |
— |
Fund Name |
Ticker |
Listing Exchange |
JPMorgan International Research Enhanced Equity ETF (the “International Research Enhanced Equity ETF” or the “Fund”) |
JIRE |
NYSE Arca |
1 | |
1 | |
1 | |
1 | |
2 | |
3 | |
3 | |
7 | |
7 | |
8 | |
8 | |
9 | |
9 | |
10 | |
11 | |
11 | |
11 | |
12 | |
12 | |
12 | |
13 | |
13 | |
13 | |
13 | |
14 | |
14 | |
14 | |
14 | |
14 | |
14 | |
14 | |
14 | |
15 | |
15 | |
15 | |
15 | |
15 | |
15 |
Instrument |
Part II Section Reference |
Bank Obligations: Bankers’ acceptances, certificates of deposit and time deposits. Bankers’ acceptances are bills of exchange or time drafts drawn on and accepted by a commercial bank. Maturities are generally six months or less. Certificates of deposit are negotiable certificates issued by a bank for a specified period of time and earning a specified return. Time deposits are non-negotiable receipt issued by a bank in exchange for the deposit of funds. |
Bank Obligations |
Borrowings: The Fund may borrow for temporary purposes and/or for investment purposes. Such a practice will result in leveraging of the Fund’s assets and may cause the Fund to liquidate portfolio positions when it would not be advantageous to do so. The Fund must maintain continuous asset coverage of 300% of the amount borrowed, with the exception for borrowings not in excess of 5% of the Fund’s total assets made for temporary administrative purposes. |
Miscellaneous Investment Strategies and Risks |
Brady Bonds: Securities created through the exchange of existing commercial bank loans to public and private entities in certain emerging markets for new bonds in connection with debt restructurings. |
Foreign Investments (including Foreign Currencies) |
Call and Put Options: A call option gives the buyer the right to buy, and obligates the seller of the option to sell, a security at a specified price at a future date. A put option gives the buyer the right to sell, and obligates the seller of the option to buy a security at a specified price at a future date. The Fund will sell only covered call and secured put options. |
Options and Futures Transactions |
Instrument |
Part II Section Reference |
Commercial Paper: Secured and unsecured short-term promissory notes issued by corporations and other entities. Maturities generally vary from a few days to nine months. |
Commercial Paper |
Commodity-Linked Derivatives: Instruments whose value derives from the price of a commodity, including commodity futures and commodity options. |
Miscellaneous Investment Strategies and Risks |
Common Stock: Shares of ownership of a company. |
Equity Securities, Warrants and Rights |
Common Stock, Warrants and Rights: Securities, typically issued with preferred stock or bonds, that give the holder the right to buy a proportionate amount of common stock at a specified price. |
Equity Securities, Warrants and Rights |
Convertible Securities: Bonds or preferred stock that can convert to common stock including contingent convertible securities. |
Convertible Securities |
Corporate Debt Securities: May include bonds and other debt securities of domestic and foreign issuers, including obligations of industrial, utility, banking and other corporate issuers. |
Debt Instruments |
Emerging Market Securities: Securities issued by issuers or governments in countries with emerging economies or securities markets which may be undergoing significant evolution and rapid development. |
Foreign Investments (including Foreign Currencies) |
Exchange-Traded Fund (“ETFs”): Ownership interest in unit investment trusts, depositary receipts, and other pooled investment vehicles that hold a portfolio of securities or stocks designed to track the price performance and dividend yield of a particular broad based, sector or international index. ETFs include a wide range of investments. |
Investment Company Securities and Exchange Traded Funds |
Foreign Currency Transactions: Strategies used to hedge against interest rate and currency risks, for other risk management purposes or to increase income or gain to the Fund. These strategies may consist of use of any of the following: options on currencies, currency futures, options on such futures, forward foreign currency transactions (including non-deliverable forwards (“NDFs”)), forward rate agreements and interest rate and currency swaps, caps and floors. |
Foreign Investments (including Foreign Currencies) |
Foreign Investments: Equity and debt securities (e.g., bonds and commercial paper) of foreign entities and obligations of foreign branches of U.S. banks and foreign banks. Foreign securities may also include American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”), European Depositary Receipts (“EDRs”) and American Depositary Securities. |
Foreign Investments (including Foreign Currencies) |
Initial Public Offerings (“IPOs”): A transaction in which a previously private company makes its first sale of stock to the public. |
Equity Securities, Warrants and Rights |
Interfund Lending: Involves lending money and borrowing money for temporary purposes through a credit facility. |
Miscellaneous Investment Strategies and Risks |
Investment Company Securities: Shares of other investment companies, including money market funds for which the adviser and/or its affiliates serve as investment adviser or administrator. The adviser will waive certain fees when investing in funds for which it serves as investment adviser, to the extent required by law or by contract. |
Investment Company Securities and Exchange Traded Funds |
Master Limited Partnerships: Limited partnerships that are publicly traded on a securities exchange. |
Master Limited Partnerships |
New Financial Products: New options and futures contracts and other financial products continue to be developed and the Fund may invest in such options, contracts and products. |
Miscellaneous Investment Strategies and Risks |
Obligations of Supranational Agencies: Obligations which are chartered to promote economic development and are supported by various governments and governmental agencies. |
Foreign Investments (including Foreign Currencies) |
Instrument |
Part II Section Reference |
Options and Futures Transactions: The Fund may purchase and sell (a) exchange traded and over-the-counter put and call options on securities, indexes of securities and futures contracts on securities and indexes of securities, and (b) futures contracts on securities and indexes of securities. |
Options and Futures Transactions |
Preferred Stock: A class of stock that generally pays a dividend at a specified rate and has preference over common stock in the payment of dividends and in liquidation. |
Equity Securities, Warrants and Rights |
Private Placements, Restricted Securities and Other Unregistered Securities: Securities not registered under the Securities Act of 1933, such as privately placed commercial paper and Rule 144A securities. |
Miscellaneous Investment Strategies and Risks |
Real Estate Investment Trusts (“REITs”): Pooled investment vehicles which invest primarily in income producing real estate or real estate related loans or interest. |
Real Estate Investment Trusts |
Repurchase Agreements: The purchase of a security and the simultaneous commitment to return the security to the seller at an agreed upon price on an agreed upon date. This is treated as a loan. |
Repurchase Agreements |
Reverse Repurchase Agreements: The sale of a security and the simultaneous commitment to buy the security back at an agreed upon price on an agreed upon date. This is treated as a borrowing by the Fund. |
Reverse Repurchase Agreements |
Securities Issued in Connection with Reorganizations and Corporate Restructurings: In connection with reorganizing or restructuring of an issuer, an issuer may issue common stock or other securities to holders of its debt securities. |
Miscellaneous Investment Strategies and Risks |
Securities Lending: The lending of up to 33 1∕3% of the Fund’s total assets. In return, the Fund will receive cash, other securities, and/or letters of credit as collateral. |
Securities Lending |
Short Selling: The Fund sells a security it does not own in anticipation of a decline in the market value of the security. To complete the transaction, the Fund must borrow the security to make delivery to the buyer. The Fund is obligated to replace the security borrowed by purchasing it subsequently at the market price at the time of replacement. |
Short Selling |
Short-Term Funding Agreements: Agreements issued by banks and highly rated U.S. insurance companies such as Guaranteed Investment Contracts (“GICs”) and Bank Investment Contracts (“BICs”). |
Short-Term Funding Agreements |
Sovereign Obligations: Investments in debt obligations issued or guaranteed by a foreign sovereign government or its agencies, authorities or political subdivisions. |
Foreign Investments (including Foreign Currencies) |
Structured Investments: A security having a return tied to an underlying index or other security or asset class. Structured investments generally are individually negotiated agreements and may be traded over-the-counter. Structured investments are organized and operated to restructure the investment characteristics of the underlying index, commodity, currency or financial instrument. |
Structured Investments |
Swaps and Related Swap Products: Swaps involve an exchange of obligations by two parties. Caps and floors entitle a purchaser to a principal amount from the seller of the cap or floor to the extent that a specified index exceeds or falls below a predetermined interest rate or amount. The Fund may enter into these transactions to manage its exposure to changing interest rates and other factors. |
Swaps and Related Swap Products |
Synthetic Variable Rate Instruments: Instruments that generally involve the deposit of a long-term tax exempt bond in a custody or trust arrangement and the creation of a mechanism to adjust the long-term interest rate on the bond to a variable short-term rate and a right (subject to certain conditions) on the part of the purchaser to tender it periodically to a third party at par. |
Swaps and Related Swap Products |
Temporary Defensive Positions: To respond to unusual circumstances, the Fund may invest in cash and cash equivalents for temporary defensive purposes. |
Miscellaneous Investment Strategies and Risks |
Instrument |
Part II Section Reference |
Treasury Receipts: The Fund may purchase interests in separately traded interest and principal component parts of U.S. Treasury obligations that are issued by banks or brokerage firms and that are created by depositing U.S. Treasury notes and U.S. Treasury bonds into a special account at a custodian bank. Receipts include Treasury Receipts (“TRs”), Treasury Investment Growth Receipts (“TIGRs”), and Certificates of Accrual on Treasury Securities (“CATS”). |
Treasury Receipts |
U.S. Government Agency Securities: Securities issued by agencies and instrumentalities of the U.S. government. These include all types of securities issued by the Government National Mortgage Association (“Ginnie Mae”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”), including funding notes, subordinated benchmark notes, CMOs and REMICs. |
Mortgage-Related Securities |
U.S. Government Obligations: May include direct obligations of the U.S. Treasury, including Treasury bills, notes and bonds, all of which are backed as to principal and interest payments by the full faith and credit of the United States, and separately traded principal and interest component parts of such obligations that are transferable through the Federal book-entry system known as Separate Trading of Registered Interest and Principal of Securities (“STRIPS”) and Coupon Under Book-Entry Safekeeping (“CUBES”). |
U.S. Government Obligations |
Variable and Floating Rate Instruments: Obligations with interest rates which are reset daily, weekly, quarterly or some other frequency and which may be payable to the Fund on demand or at the expiration of a specified term. |
Debt Instruments |
When-Issued Securities, Delayed Delivery Securities and Forward Commitments: Purchase or contract to purchase securities at a fixed price for delivery at a future date. |
When-Issued Securities, Delayed Delivery Securities and Forward Commitments |
Zero-Coupon, Pay-in-Kind and Deferred Payment Securities: Zero-coupon securities are securities that are sold at a discount to par value and on which interest payments are not made during the life of the security. Pay-in-kind securities are securities that have interest payable by delivery of additional securities. Deferred payment securities are zero-coupon debt securities which convert on a specified date to interest bearing debt securities. |
Debt Instruments |
|
Fiscal Year Ended October 31, | |
Fund |
2021 |
2022 |
International Research Enhanced Equity ETF |
20% |
16% |
Committee |
Fiscal Year Ended October 31, 2022 |
Audit and Valuation Committee |
4 |
Compliance Committee* |
4 |
Governance and Nominating Committee** |
1 |
Governance Committee* |
3 |
Equity Committee* |
4 |
ETF Committee* |
3 |
Fixed Income Committee* |
3 |
Money Market and Alternative Products Committee* |
5 |
Oversight Committee for Insurance and Performance Reports** |
0 |
Name of Trustee |
Dollar Range of Equity Securities in International Research Enhanced Equity ETF |
Aggregate Dollar Range of Equity Securities in All Registered Investment Companies Overseen by the Trustee in Family of Investment Companies1,2 |
Independent Trustees |
|
|
John F. Finn |
None |
Over $100,000 |
Stephen P. Fisher |
None |
Over $100,000 |
Gary L. French |
None |
Over $100,000 |
Kathleen M. Gallagher |
None |
Over $100,000 |
Robert J. Grassi |
None |
Over $100,000 |
Frankie D. Hughes |
None |
Over $100,000 |
Raymond Kanner |
None |
Over $100,000 |
Thomas P. Lemke |
None |
Over $100,000 |
Lawrence R. Maffia |
None |
Over $100,000 |
Mary E. Martinez |
None |
Over $100,000 |
Marilyn McCoy |
None |
Over $100,000 |
Dr. Robert A. Oden, Jr. |
None |
Over $100,000 |
Marian U. Pardo |
None |
Over $100,000 |
Emily A. Youssouf |
None |
Over $100,000 |
Interested Trustees |
|
|
Robert Deutsch |
None |
Over $100,000 |
Nina O. Shenker |
None |
Over $100,000 |
Name of Trustee |
International Research Enhanced Equity ETF |
Total Compensation Paid From Fund Complex1 |
Independent Trustees |
|
|
John F. Finn |
$3,456 |
$620,000 |
Stephen P. Fisher |
2,550 |
445,000 |
Gary L. French |
2,292 |
395,0002 |
Kathleen M. Gallagher |
2,550 |
445,0003 |
Robert J. Grassi |
2,292 |
395,000 |
Frankie D. Hughes |
2,292 |
395,000 |
Raymond Kanner |
2,550 |
445,0004 |
Thomas P. Lemke |
2,292 |
395,0005 |
Lawrence R. Maffia |
2,292 |
395,000 |
Mary E. Martinez |
2,938 |
520,000 |
Marilyn McCoy |
2,292 |
395,0006 |
Dr. Robert A. Oden, Jr. |
2,550 |
445,000 |
Marian U. Pardo |
2,550 |
445,000 |
Emily A. Youssouf |
2,292 |
395,0007 |
Interested Trustees |
|
|
Robert Deutsch |
2,550 |
445,0008 |
Nina O. Shenker |
2,292 |
395,0006 |
|
Fiscal Year Ended | |||||
|
October 31, 2020 |
October 31, 2021 |
October 31, 2022 | |||
Fund |
Paid |
Waived |
Paid |
Waived |
Paid |
Waived |
International Research Enhanced Equity ETF |
$7,969 |
$(1,937) |
$8,535 |
$(1,811) |
$9,086 |
$(1,083) |
|
Non-Performance Based Fee Advisory Accounts | |||||
|
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | |||
|
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) |
International Research Enhanced Equity ETF |
|
|
|
| ||
Piera Elisa Grassi |
2 |
$169,396 |
14 |
$6,951,584 |
9 |
$5,057,407 |
Nicholas Farserotu |
2 |
169,396 |
7 |
2,269,613 |
9 |
5,057,407 |
Winnie Cheung |
2 |
169,396 |
7 |
2,244,162 |
9 |
5,057,407 |
|
Performance Based Fee Advisory Accounts | |||||
|
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | |||
|
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) |
Number of Accounts |
Total Assets ($thousands) |
International Research Enhanced Equity ETF |
|
|
|
| ||
Piera Elisa Grassi |
0 |
$0 |
0 |
$0 |
2 |
$776,868 |
Nicholas Farserotu |
0 |
0 |
0 |
0 |
2 |
776,868 |
Winnie Cheung |
0 |
0 |
0 |
0 |
2 |
776,868 |
Fund |
Aggregate Dollar Range of Securities in the Fund | ||||||
None |
$1- $10,000 |
$10,001- $50,000 |
$50,001- $100,000 |
$100,001- $500,000 |
$500,001- $1,000,000 |
Over $1,000,000 | |
International Research Enhanced Equity ETF | |||||||
Piera Elisa Grassi |
X |
|
|
|
|
|
|
Nicholas Farserotu |
X |
|
|
|
|
|
|
Winnie Cheung |
X |
|
|
|
|
|
|
Name of Fund |
Benchmark |
International Research Enhanced Equity ETF |
MSCI EAFE Index (net of foreign withholding taxes) |
|
Fiscal Year Ended | |||||
|
October 31, 2020 |
October 31, 2021 |
October 31, 2022 | |||
Fund |
Paid |
Waived |
Paid |
Waived |
Paid |
Waived |
International Research Enhanced Equity ETF |
$2,675 |
$(1,040) |
$2,780 |
$(1,100) |
$3,263 |
$(550) |
|
Fiscal Year Ended | ||
Fund |
October 31, 2020 |
October 31, 2021 |
October 31, 2022 |
International Research Enhanced Equity ETF |
$126 |
$128 |
$130 |
|
International Research Enhanced Equity ETF |
Gross Income from Securities Lending Activities1 |
$1,183,447 |
Fees and/or Compensation for Securities Lending Activities |
|
Revenue Split2 |
70,161 |
Cash Collateral Management Fees3 |
36,817 |
Administrative Fees |
— |
Indemnification Fees |
— |
Rebates to Borrowers |
549,230 |
Others Fees |
— |
Aggregate Fees/Compensation for Securities Lending Activities |
656,208 |
Net Income from the Securities Lending Activities |
527,239 |
|
Fiscal Year Ended | ||
Fund |
October 31, 2020 |
October 31, 2021 |
October 31, 2022 |
International Research Enhanced Equity ETF | |||
Total Brokerage Commissions |
$4,537,428 |
$2,337,902 |
$1,543,793 |
Brokerage Commissions to Affiliated Broker/Dealers |
— |
— |
— |
Fund |
Name of Broker-Dealer |
Value of Securities Owned (000's) |
International Research Enhanced Equity ETF |
BNP Paribas SA |
$42,889 |
|
Societe Generale SA |
14,417 |
|
UBS Group AG |
19,089 |
|
Capital Loss Carryforward Character | |
Fund |
Short-Term |
Long-Term |
International Research Enhanced Equity ETF |
$41,791,174 |
$283,108,657 |
Name of Fund |
Name and Address of Shareholder |
Percentage Held | |
JPMORGAN INERNATIONAL RESEARCH ENHANCED EQUITY ETF | |||
|
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION* 383 MADISON AVENUE NEW YORK, NY 10017 |
78.64% | |
|
|
| |
|
THE BANK OF NEW YORK MELLON 240 GREENWICH STREET NEW YORK, NY 10286 |
7.86% | |
|
|
| |
|
ASSETMARK, INC. 1655 GRANT STREET, 10TH FLOOR CONCORD, CA 94520 |
5.60% |
Fund Name |
Ticker |
Listing Exchange |
JPMorgan ActiveBuilders Emerging Markets Equity ETF (the “ActiveBuilders Emerging Markets Equity ETF”) |
JEMA |
Cboe BZX Exchange, Inc. |
JPMorgan ActiveBuilders International Equity ETF (the “ActiveBuilders International Equity ETF”) |
JIDA |
NYSE Arca |
JPMorgan International Growth ETF (the “International Growth ETF”) |
JIG |
NYSE Arca |
1 | |
1 | |
1 | |
1 | |
2 | |
3 | |
3 | |
8 | |
9 | |
9 | |
9 | |
10 | |
10 | |
11 | |
11 | |
12 | |
12 | |
12 | |
13 | |
13 | |
13 | |
13 | |
14 | |
14 | |
14 | |
14 | |
14 | |
15 | |
15 | |
15 | |
15 | |
15 | |
15 | |
15 | |
15 | |
15 | |
17 |
FUND NAME |
FUND CODE |
ActiveBuilders Emerging Markets Equity ETF |
1 |
ActiveBuilders International Equity ETF |
2 |
International Growth ETF |
3 |
Instrument |
Fund Code |
Part II Section Reference |
Adjustable Rate Mortgage Loans (“ARMs”): Loans in a mortgage pool which provide for a fixed initial mortgage interest rate for a specified period of time, after which the rate may be subject to periodic adjustments. |
3 |
Mortgage-Related Securities |
Asset-Backed Securities: Securities secured by company receivables, home equity loans, truck and auto loans, leases, and credit card receivables or other securities backed by other types of receivables or other assets and pools of loans, such as collateralized loan obligations. |
3 |
Asset-Backed Securities |
Auction Rate Securities: Auction rate municipal securities and auction rate preferred securities issued by closed-end investment companies. |
3 |
Auction Rate Securities |
Instrument |
Fund Code |
Part II Section Reference |
Bank Obligations: Bankers’ acceptances, certificates of deposit and time deposits. Bankers’ acceptances are bills of exchange or time drafts drawn on and accepted by a commercial bank. Maturities are generally six months or less. Certificates of deposit are negotiable certificates issued by a bank for a specified period of time and earning a specified return. Time deposits are non-negotiable receipts issued by a bank in exchange for the deposit of funds. |
3 |
Bank Obligations |
Borrowings: A Fund may borrow for temporary purposes and/or for investment purposes. Such a practice will result in leveraging of a Fund’s assets and may cause a Fund to liquidate portfolio positions when it would not be advantageous to do so. A Fund must maintain continuous asset coverage of 300% of the amount borrowed, with the exception for borrowings not in excess of 5% of a Fund’s total assets made for temporary administrative purposes. |
3 |
Miscellaneous Investment Strategies and Risks |
Call and Put Options: A call option gives the buyer the right to buy, and obligates the seller of the option to sell, a security at a specified price at a future date. A put option gives the buyer the right to sell, and obligates the seller of the option to buy, a security at a specified price at a future date. |
1-3 |
Options and Futures Transactions |
Commercial Paper: Secured and unsecured short-term promissory notes issued by corporations and other entities. Maturities generally vary from a few days to nine months. |
3 |
Commercial Paper |
Commodity-Linked Derivatives: Securities, whose value derives from the price of a commodity, including commodity futures and commodity options. |
3 |
Miscellaneous Investment Strategies and Risks |
Common Stock: Shares of ownership of a company. |
1-3 |
Equity Securities, Warrants and Rights |
Common Stock Warrants and Rights: Securities, typically issued with preferred stock or bonds, that give the holder the right to buy a proportionate amount of common stock at a specified price. |
1-3 |
Equity Securities, Warrants and Rights |
Convertible Securities: Bonds or preferred stock that can convert to common stock. |
1-3 |
Convertible Securities |
Corporate Debt Securities: May include bonds and other debt securities of domestic and foreign issuers, including obligations of industrial, utility, banking and other corporate issuers. |
1, 3 |
Debt Instruments |
Credit Default Swaps (“CDSs”): A swap agreement between two parties pursuant to which one party pays the other a fixed periodic coupon for the specified life of the agreement. The other party makes no payment unless a credit event, relating to a predetermined reference asset, occurs. If such an event occurs, the party will then make a payment to the first party, and the swap will terminate. |
3 |
Swaps and Related Swap Products |
Custodial Receipts: A Fund may acquire securities in the form of custodial receipts that evidence ownership of future interest payments, principal payments or both on certain U.S. Treasury notes or bonds in connection with programs sponsored by banks and brokerage firms. These are not considered to be U.S. government securities. These notes and bonds are held in custody by a bank on behalf of the owners of the receipts. |
3 |
Custodial Receipts |
Instrument |
Fund Code |
Part II Section Reference |
Demand Features: Securities that are subject to puts and standby commitments to purchase the securities at a fixed price (usually with accrued interest) within a fixed period of time following demand by a Fund. |
3 |
Demand Features |
Emerging Market Securities: Securities issued by issuers or governments in countries with emerging economies or securities markets which may be undergoing significant evolution and rapid development. |
1-3 |
Foreign Investments (including Foreign Currencies) |
Exchange-Traded Funds (“ETFs”): Ownership interest in unit investment trusts, depositary receipts, and other pooled investment vehicles that hold a portfolio of securities or stocks designed to track the price performance and dividend yield of a particular broad-based, sector or international index. ETFs include a wide range of investments. |
1-2 |
Investment Company Securities and Exchange- Traded Funds |
Foreign Currency Transactions: Strategies used to hedge against currency risks, for other risk management purposes or to increase income or gain to a Fund. These strategies may consist of use of any of the following: options on currencies, currency futures, options on such futures, forward foreign currency transactions (including non- deliverable forwards (“NDFs”)), forward rate agreements and currency swaps, caps and floors. |
1-3 |
Foreign Investments (including Foreign Currencies) |
Foreign Investments: Equity and debt securities (e.g., bonds and commercial paper) of foreign entities and obligations of foreign branches of U.S. banks and foreign banks. Foreign securities may also include American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”), European Depositary Receipts (“EDRs”) and American Depositary Securities (“ADSs”). |
1-3 |
Foreign Investments (including Foreign Currencies) |
High Yield/High Risk Securities/Junk Bonds: Securities that are generally rated below investment grade by the primary rating agencies or are unrated but are deemed by a Fund’s adviser to be of comparable quality. |
1, 3 |
Debt Instruments |
Inflation-Linked Debt Securities: Includes fixed and floating rate debt securities of varying maturities issued by the U.S. government as well as securities issued by other entities such as corporations, foreign governments and foreign issuers. |
1, 3 |
Debt Instruments |
Initial Public Offering (“IPOs”): A transaction in which a previously private company makes its first sale of stock to the public. |
1-3 |
Equity Securities, Warrants and Rights |
Interfund Lending: Involves lending money and borrowing money for temporary purposes through a credit facility. |
1-3 |
Miscellaneous Investment Strategies and Risks |
Inverse Floating Rate Instruments: Leveraged variable debt instruments with interest rates that reset in the opposite direction from the market rate of interest to which the inverse floater is indexed. |
1, 3 |
Inverse Floaters and Interest Rate Caps |
Investment Company Securities: Shares of other investment companies, including money market funds for which the Adviser and/or its affiliates serve as investment adviser or administrator. The Adviser will waive certain fees when investing in funds for which it serves as investment adviser, to the extent required by law or by contract. |
1-3 |
Investment Company Securities and Exchange- Traded Funds |
Instrument |
Fund Code |
Part II Section Reference |
Loan Assignments and Participations: Assignments of, or participations in, all or a portion of loans to corporations or to governments, including governments of lesser developed countries. |
1, 3 |
Loans |
Master Limited Partnerships (“MLPs”): Limited partnerships that are publicly traded on a securities exchange. |
1, 3 |
Master Limited Partnerships |
Mortgages (Directly Held): Debt instruments secured by real property. |
1, 3 |
Mortgage-Related Securities |
Mortgage-Backed Securities: Debt obligations secured by real estate loans and pools of loans. |
1, 3 |
Mortgage-Related Securities |
Mortgage Dollar Rolls: A transaction in which a Fund sells securities for delivery in a current month and simultaneously contracts with the same party to repurchase similar but not identical securities on a specified future date. |
1, 3 |
Mortgage-Related Securities |
Municipal Securities: Securities issued by a state or political subdivision (including securities issued by a foreign state or subdivision) to obtain funds for various public purposes. Municipal securities include, among others, private activity bonds and industrial development bonds, as well as general obligation notes, tax anticipation notes, bond anticipation notes, revenue anticipation notes, other short-term tax- exempt obligations, municipal leases, obligations of municipal housing authorities and single family revenue bonds. |
3 |
Municipal Securities |
New Financial Products: New options and futures contracts and other financial products continue to be developed and a Fund may invest in such options, contracts and products. |
1-3 |
Miscellaneous Investment Strategies and Risks |
Obligations of Supranational Agencies: Obligations which are chartered to promote economic development and are supported by various governments and governmental agencies. |
3 |
Foreign Investments (including Foreign Currencies) |
Options and Futures Transactions: A Fund may purchase and sell (a) exchange traded and over-the-counter put and call options on securities, indexes of securities and futures contracts on securities and indexes of securities and (b) futures contracts on securities and indexes of securities. |
1-3 |
Options and Futures Transactions |
Preferred Stock: A class of stock that generally pays a dividend at a specified rate and has preference over common stock in the payment of dividends and in liquidation. |
1-3 |
Equity Securities, Warrants and Rights |
Private Placements, Restricted Securities and Other Unregistered Securities: Securities not registered under the Securities Act of 1933, such as privately placed commercial paper and Rule 144A securities. |
1-3 |
Miscellaneous Investment Strategies and Risks |
Real Estate Investment Trusts (“REITs”): Pooled investment vehicles which invest primarily in income producing real estate or real estate related loans or interest. |
1-3 |
Real Estate Investment Trusts |
Repurchase Agreements: The purchase of a security and the simultaneous commitment to return the security to the seller at an agreed upon price on an agreed upon date. This is treated as a loan. |
1-3 |
Repurchase Agreements |
Reverse Repurchase Agreements: The sale of a security and the simultaneous commitment to buy the security back at an agreed upon price on an agreed upon date. This is treated as a borrowing by a Fund. |
1, 3 |
Reverse Repurchase Agreements |
Instrument |
Fund Code |
Part II Section Reference |
Securities Issued in Connection with Reorganizations and Corporate Restructurings: In connection with reorganizing or restructuring of an issuer, an issuer may issue common stock or other securities to holders of its debt securities. |
1-3 |
Miscellaneous Investment Strategies and Risks |
Securities Lending: The lending of up to 33 1∕3% of a Fund’s total assets. In return a Fund will receive cash as collateral. |
1-3 |
Securities Lending |
Short-Term Funding Agreements: Agreements issued by banks and highly rated U.S. insurance companies such as Guaranteed Investment Contracts (“GICs”) and Bank Investment Contracts (“BICs”). |
1-3 |
Short-Term Funding Agreements |
Short Selling: A Fund sells a security it does not own in anticipation of a decline in the market value of the security. To complete the transaction, a Fund must borrow the security to make delivery to the buyer. A Fund is obligated to replace the security borrowed by purchasing it subsequently at the market price at the time of replacement. A Fund may enter into physical short transactions or obtain the short exposure through synthetic derivative transactions. |
3 |
Short Selling |
Sovereign Obligations: Investments in debt obligations issued or guaranteed by a foreign sovereign government or its agencies, authorities or political subdivisions. |
1, 3 |
Foreign Investments (including Foreign Currencies) |
Stripped Mortgage-Backed Securities: Derivative multi- class mortgage securities which are usually structured with two classes of shares that receive different proportions of the interest and principal from a pool of mortgage assets. These include Interest-Only (“IO”) and Principal-Only (“PO”) securities issued outside a Real Estate Mortgage Investment Conduit (“REMIC”) or collateralized mortgage obligations (“CMOs”) structure. |
1, 3 |
Mortgage-Related Securities |
Structured Investments: A security having a return tied to an underlying index or other security or asset class. Structured investments generally are individually negotiated agreements and may be traded over-the-counter. Structured investments are organized and operated to restructure the investment characteristics of the underlying index, currency, commodity or financial instrument. |
1, 3 |
Structured Investments |
Swaps and Related Swap Products: Swaps involve an exchange of obligations by two parties. Caps and floors entitle a purchaser to a principal amount from the seller of the cap or floor to the extent that a specified index exceeds or falls below a predetermined interest rate or amount. A Fund may enter into these transactions to manage its exposure to changing interest rates and other factors. |
1, 3 |
Swaps and Related Swap Products |
Synthetic Variable Rate Instruments: Instruments that generally involve the deposit of a long-term tax exempt bond in a custody or trust arrangement and the creation of a mechanism to adjust the long-term interest rate on the bond to a variable short- term rate and a right (subject to certain conditions) on the part of the purchaser to tender it periodically to a third party at par. |
1, 3 |
Synthetic Variable Rate Instruments |
Temporary Defensive Positions: To respond to unusual circumstances a Fund may invest a portion of its total assets in cash and cash equivalents for temporary defensive purposes. |
1-3 |
Miscellaneous Investment Strategies and Risks |
Instrument |
Fund Code |
Part II Section Reference |
Treasury Receipts: A Fund may purchase interests in separately traded interest and principal component parts of U.S. Treasury obligations that are issued by banks or brokerage firms and that are created by depositing U.S. Treasury notes and U.S. Treasury bonds into a special account at a custodian bank. Receipts include Treasury Receipts (TRs), Treasury Investment Growth Receipts (TIGRs), and Certificates of Accrual on Treasury Securities (CATS). |
1, 3 |
Treasury Receipts |
Trust Preferred: Securities with characteristics of both subordinated debt and preferred stock. Trust preferreds are generally long term securities that make periodic fixed or variable interest payments. |
1 |
Trust Preferred |
U.S. Government Agency Securities: Securities issued or guaranteed by agencies and instrumentalities of the U.S. government. These include all types of securities issued by the Government National Mortgage Association (“Ginnie Mae”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”), including funding notes, subordinated benchmark notes, CMOs and REMICs. |
1, 3 |
U.S. Government Obligations |
U.S. Government Obligations: May include direct obligations of the U.S. Treasury, including Treasury bills, notes and bonds, all of which are backed as to principal and interest payments by the full faith and credit of the United States, and separately traded principal and interest component parts of such obligations that are transferable through the Federal book-entry system known as Separate Trading of Registered Interest and Principal of Securities (“STRIPS”) and Coupons Under Book Entry Safekeeping (“CUBES”). |
1, 3 |
U.S. Government Obligations |
Variable and Floating Rate Instruments: Obligations with interest rates which are reset daily, weekly, quarterly or some other frequency and which may be payable to a Fund on demand or at the expiration of a specified term. |
1, 3 |
Debt Instruments |
When-Issued Securities, Delayed Delivery Securities and Forward Commitments: Purchase or contract to purchase securities at a fixed price for delivery at a future date. |
1, 3 |
When-Issued Securities, Delayed Delivery Securities and Forward Commitments |
Zero-Coupon, Pay-in-Kind and Deferred Payment Securities: Zero-coupon securities are securities that are sold at a discount to par value and on which interest payments are not made during the life of the security. Pay- in-kind securities are securities that have interest payable by delivery of additional securities. Deferred payment securities are zero-coupon debt securities which convert on a specified date to interest bearing debt securities. |
1, 3 |
Debt Instruments |
|
Fiscal Year Ended October 31, | |
Fund |
2021 |
2022 |
ActiveBuilders Emerging Markets Equity ETF1 |
40% |
28% |
ActiveBuilders International Equity ETF2 |
9% |
28% |
International Growth ETF |
37% |
32% |
Committee |
Fiscal Year Ended October 31, 2022 |
Audit and Valuation Committee |
4 |
Compliance Committee* |
4 |
Governance and Nominating Committee** |
1 |
Governance Committee* |
3 |
Equity Committee* |
4 |
ETF Committee* |
3 |
Fixed Income Committee* |
3 |
Money Market and Alternative Products Committee* |
5 |
Oversight Committee for Insurance and Performance Reports** |
0 |
Name of Trustee |
Dollar Range of Equity Securities in ActiveBuidlers Emerging Markets Equity ETF |
Dollar Range of Equity Securities in ActiveBuidlers International Equity ETF |
Dollar Range of Equity Securities in International Growth ETF |
Aggregate Dollar Range of Equity Securities in All Registered Investment Companies Overseen by the Trustee in Family of Investment Companies1,2 |
Independent Trustees |
|
|
|
|
John F. Finn |
None |
None |
None |
Over $100,000 |
Stephen P. Fisher |
None |
None |
None |
Over $100,000 |
Gary L. French |
None |
None |
None |
Over $100,000 |
Kathleen M. Gallagher |
None |
None |
None |
Over $100,000 |
Robert J. Grassi |
None |
None |
None |
Over $100,000 |
Frankie D. Hughes |
None |
None |
None |
Over $100,000 |
Raymond Kanner |
None |
None |
None |
Over $100,000 |
Thomas P. Lemke |
None |
None |
None |
Over $100,000 |
Lawrence R. Maffia |
None |
None |
None |
Over $100,000 |
Mary E. Martinez |
None |
None |
None |
Over $100,000 |
Marilyn McCoy |
None |
None |
None |
Over $100,000 |
Dr. Robert A. Oden, Jr. |
None |
None |
None |
Over $100,000 |
Marian U. Pardo |
None |
None |
None |
Over $100,000 |
Emily A. Youssouf |
None |
None |
None |
Over $100,000 |
Interested Trustees |
|
|
|
|
Robert Deutsch |
None |
None |
None |
Over $100,000 |
Nina O. Shenker |
None |
None |
None |
Over $100,000 |
Name of Trustee |
ActiveBuilders International Equity ETF |
ActiveBuilders Emerging Markets Equity ETF |
International Growth ETF |
Total Compensation Paid From Fund Complex1 |
Independent Trustees |
|
|
|
|
John F. Finn |
$1,572 |
$1,863 |
$1,584 |
$620,000 |
Stephen P. Fisher |
1,567 |
1,719 |
1,574 |
445,000 |
Gary L. French |
1,566 |
1,678 |
1,571 |
395,0002 |
Kathleen M. Gallagher |
1,567 |
1,719 |
1,574 |
445,0003 |
Robert J. Grassi |
1,566 |
1,678 |
1,571 |
395,000 |
Frankie D. Hughes |
1,566 |
1,678 |
1,571 |
395,000 |
Raymond Kanner |
1,567 |
1,719 |
1,574 |
445,0004 |
Thomas P. Lemke |
1,566 |
1,678 |
1,571 |
395,0005 |
Lawrence R. Maffia |
1,566 |
1,678 |
1,571 |
395,000 |
Mary E. Martinez |
1,569 |
1,781 |
1,578 |
520,000 |
Marilyn McCoy |
1,566 |
1,678 |
1,571 |
395,0006 |
Dr. Robert A. Oden, Jr. |
1,567 |
1,719 |
1,574 |
445,000 |
Marian U. Pardo |
1,567 |
1,719 |
1,574 |
445,000 |
Emily A. Youssouf |
1,566 |
1,678 |
1,571 |
395,0007 |
Interested Trustees |
|
|
|
|
Robert Deutsch |
1,567 |
1,719 |
1,574 |
445,0008 |
Nina O. Shenker |
1,566 |
1,678 |
1,571 |
395,0006 |
|
Fiscal Year Ended | ||
Fund |
October 31, 2020 |
October 31, 2021 |
October 31, 2022 |
ActiveBuilders Emerging Markets Equity ETF1 |
N/A |
$418,749 |
$2,427,172 |
ActiveBuilders International Equity ETF2 |
N/A |
22,839 |
63,496 |
International Growth ETF3 |
$70,217 |
306,545 |
326,344 |
|
Non-Performance Based Fee Advisory Accounts | |||||
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | ||||
Number of Accounts |
Total Assets ($ thousands) |
Number of Accounts |
Total Assets ($ thousands) |
Number of Accounts |
Total Assets ($ thousands) | |
ActiveBuilders Emerging Markets Equity ETF | ||||||
Anuj Arora |
3 |
$671,262 |
11 |
$4,015,455 |
18 |
$3,977,442 |
Joyce Weng |
5 |
723,159 |
6 |
488,274 |
7 |
851,235 |
Harold Yu |
0 |
0 |
6 |
488,274 |
7 |
916,986 |
ActiveBuilders International Equity ETF | ||||||
Nicholas Horne |
0 |
0 |
4 |
2,229,596 |
0 |
0 |
Philippa Clough |
0 |
0 |
2 |
1,528,048 |
0 |
0 |
Richard Morillot |
0 |
0 |
0 |
0 |
0 |
0 |
International Growth ETF | ||||||
Shane Duffy |
13 |
5,998,428 |
6 |
1,914,261 |
24 |
5,810,589 |
Thomas Murray |
15 |
6,147,948 |
6 |
1,914,261 |
25 |
7,007,035 |
|
Performance Based Fee Advisory Accounts | |||||
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | ||||
Number of Accounts |
Total Assets ($ thousands) |
Number of Accounts |
Total Assets ($ thousands) |
Number of Accounts |
Total Assets ($ thousands) | |
ActiveBuilders Emerging Markets Equity ETF | ||||||
Anuj Arora |
0 |
$0 |
0 |
$0 |
3 |
$567,577 |
Joyce Weng |
0 |
0 |
0 |
0 |
0 |
0 |
Harold Yu |
0 |
0 |
0 |
0 |
0 |
0 |
ActiveBuilders International Equity ETF | ||||||
Nicholas Horne |
0 |
0 |
0 |
0 |
1 |
156,303 |
Philippa Clough |
0 |
0 |
0 |
0 |
0 |
0 |
Richard Morillot |
0 |
0 |
0 |
0 |
0 |
0 |
International Growth ETF | ||||||
Shane Duffy |
0 |
0 |
0 |
0 |
4 |
883,171 |
Thomas Murray |
0 |
0 |
0 |
0 |
3 |
545,407 |
Fund |
Aggregate Dollar Range of Securities in the Fund | ||||||
None |
$1- $10,000 |
$10,001- $50,000 |
$50,001- $100,000 |
$100,001- $500,000 |
$500,001- $1,000,000 |
Over $1,000,000 | |
ActiveBuilders Emerging Markets Equity ETF | |||||||
Anuj Arora |
X |
|
|
|
|
|
|
Joyce Weng |
X |
|
|
|
|
|
|
Harold Yu |
X |
|
|
|
|
|
|
Fund |
Aggregate Dollar Range of Securities in the Fund | ||||||
None |
$1- $10,000 |
$10,001- $50,000 |
$50,001- $100,000 |
$100,001- $500,000 |
$500,001- $1,000,000 |
Over $1,000,000 | |
ActiveBuilders International Equity ETF | |||||||
Nicholas Horne |
|
|
X |
|
|
|
|
Philippa Clough |
X |
|
|
|
|
|
|
Richard Morillot |
X |
|
|
|
|
|
|
International Growth ETF | |||||||
Shane Duffy |
X |
|
|
|
|
|
|
Thomas Murray |
X |
|
|
|
|
|
|
Name of Fund |
Benchmark |
ActiveBuilders Emerging Markets Equity ETF |
MSCI Emerging Markets Index |
ActiveBuilders International Equity ETF |
MSCI EAFE Index |
International Growth ETF |
MSCI ACWI ex USA Growth Index |
|
Fiscal Year Ended | ||
Fund |
October 31, 2020 |
October 31, 2021 |
October 31, 2022 |
ActiveBuilders Emerging Markets Equity ETF1 |
N/A |
$14,940 |
$25,432 |
ActiveBuilders International Equity ETF2 |
N/A |
5,625 |
22,500 |
International Growth ETF3 |
$10,101 |
22,500 |
22,500 |
|
Activebuilders Emerging Markets Equity ETF |
Activebuilders International Equity ETF |
International Growth ETF |
Gross Income from Securities Lending Activities1 |
$5,195 |
$1,146 |
$3,424 |
Fees and/or Compensation for Securities Lending Activities |
|
|
|
Revenue Split2 |
329 |
40 |
7 |
Cash Collateral Management Fees3 |
405 |
75 |
165 |
Administrative Fees |
— |
— |
— |
Indemnification Fees |
— |
— |
— |
Rebates to Borrowers |
140 |
651 |
3,210 |
Others Fees |
— |
— |
— |
Aggregate Fees/Compensation for Securities Lending Activities |
873 |
767 |
3,382 |
|
Activebuilders Emerging Markets Equity ETF |
Activebuilders International Equity ETF |
International Growth ETF |
Net Income from the Securities Lending Activities |
$4,321 |
$379 |
$42 |
|
Fiscal Year Ended | ||
Fund |
October 31, 2020 |
October 31, 2021 |
October 31, 2022 |
ActiveBuilders Emerging Markets Equity ETF1 | |||
Total Brokerage Commissions |
N/A |
$133,341 |
$479,987 |
Brokerage Commissions to Affiliated Broker/Dealers |
N/A |
— |
— |
ActiveBuilders International Equity ETF2 | |||
Total Brokerage Commissions |
N/A |
3,923 |
4,044 |
Brokerage Commissions to Affiliated Broker/Dealers |
N/A |
— |
— |
International Growth ETF3 | |||
Total Brokerage Commissions |
$2,461 |
13,274 |
16,445 |
Brokerage Commissions to Affiliated Broker/Dealers |
— |
— |
— |
Fund |
Name of Broker-Dealer |
Value of Securities Owned |
ActiveBuilders Emerging Markets Equity ETF |
CITIC Group |
$1,083,262 |
ActiveBuilders International Equity ETF |
BNP Paribas SA |
161,362 |
|
Societe Generale SA |
39,658 |
|
UBS Group AG |
133,127 |
|
Capital Loss Carryforward Character | |
Fund |
Short-Term |
Long-Term |
ActiveBuilders Emerging Markets Equity ETF |
$50,152,798 |
$5,335,765 |
ActiveBuilders International Equity ETF |
1,474,903 |
444,276 |
International Growth ETF |
6,482,137 |
2,981,997 |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
JPMORGAN ACTIVEBUILDERS EMERGING MARKETS EQUITY ETF | ||
|
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION* 383 MADISON AVENUE NEW YORK, NY 10017 |
66.41% |
|
|
|
|
THE NORTHERN TRUST COMPANY 50 S LASALLE ST. CHICAGO, IL 60603 |
17.71% |
|
|
|
|
J.P. MORGAN SECURITIES LLC* 383 MADISON AVENUE NEW YORK, NY 10017 |
7.70% |
JPMORGAN ACTIVEBUILDERS INTERNATIONAL EQUITY ETF | ||
|
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION* 383 MADISON AVENUE NEW YORK, NY 10017 |
78.43% |
|
|
|
|
THE GOLDMAN SACHS TRUST COMPANY, NATIONAL ASSOCIATION 200 WEST STREET NEW YORK, NY 10282 |
14.06% |
JPMORGAN INTERNATIONAL GROWTH ETF | ||
|
LPL FINANCIAL LLC 4707 EXECUTIVE DRIVE SAN DIEGO, CA 92121 |
19.25% |
|
|
|
|
J.P. MORGAN SECURITIES LLC* 383 MADISON AVENUE NEW YORK, NY 10017 |
8.39% |
|
|
|
|
THRIVENT INVESTMENT MANAGEMENT INC. 600 PORTLAND AVENUE S., SUITE 100 MINNEAPOLIS, MN 55415 |
7.18% |
|
|
|
|
INDEPENDENT FINANCIAL GROUP, LLC 12671 HIGH BLUFF DRIVE, SUITE 200 SAN DIEGO, CA 92130 |
6.78% |
|
|
|
|
RAYMOND JAMES FINANCIAL SERVICES, INC. 880 CARILLON PARKWAY ST. PETERSBURG, FL 33716 |
5.94% |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
|
|
|
|
CHARLES SCHWAB RETAIL 211 MAIN ST. SAN FRANCISCO, CA 94105 |
5.22% |
Fund Name |
Ticker |
Listing Exchange |
JPMorgan BetaBuilders Canada ETF (the “BetaBuilders Canada ETF”) |
BBCA |
Cboe BZX Exchange, Inc. |
JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF (the “BetaBuilders Developed Asia Pacific ex-Japan ETF”) |
BBAX |
Cboe BZX Exchange, Inc. |
JPMorgan BetaBuilders Europe ETF (the “BetaBuilders Europe ETF”) |
BBEU |
Cboe BZX Exchange, Inc. |
JPMorgan BetaBuilders International Equity ETF (the “BetaBuilders International Equity ETF”) |
BBIN |
Cboe BZX Exchange, Inc. |
JPMorgan BetaBuilders Japan ETF (the “BetaBuilders Japan ETF”) |
BBJP |
Cboe BZX Exchange, Inc. |
JPMorgan BetaBuilders U.S. Equity ETF (the “BetaBuilders U.S. Equity ETF”) |
BBUS |
Cboe BZX Exchange, Inc. |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (the “BetaBuilders U.S. Mid Cap Equity ETF”) |
BBMC |
NYSE Arca |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF (the “BetaBuilders U.S. Mid Cap Equity ETF”) |
BBSC |
NYSE Arca |
JPMorgan Carbon Transition U.S. Equity ETF (the “Carbon Transition U.S. Equity ETF”) |
JCTR |
NYSE Arca |
JPMorgan Diversified Return Emerging Markets Equity ETF (the “Emerging Markets Equity ETF”) |
JPEM |
NYSE Arca |
JPMorgan Diversified Return International Equity ETF (the “International Equity ETF”) |
JPIN |
NYSE Arca |
JPMorgan Diversified Return U.S. Equity ETF (the “U.S. Equity ETF”) |
JPUS |
NYSE Arca |
JPMorgan Diversified Return U.S. Mid Cap Equity ETF (the “U.S. Mid Cap Equity ETF”) |
JPME |
NYSE Arca |
JPMorgan Diversified Return U.S. Small Cap Equity ETF (the “U.S. Small Cap Equity ETF”) |
JPSE |
NYSE Arca |
JPMorgan U.S. Momentum Factor ETF (the “U.S. Momentum Factor ETF”) |
JMOM |
NYSE Arca |
JPMorgan U.S. Quality Factor ETF (the “U.S. Quality Factor ETF”) |
JQUA |
NYSE Arca |
JPMorgan U.S. Value Factor ETF (the “U.S. Value Factor ETF”) |
JVAL |
NYSE Arca |
1 | |
1 | |
1 | |
2 | |
3 | |
4 | |
4 | |
4 | |
7 | |
7 | |
8 | |
8 | |
9 | |
11 | |
13 | |
13 | |
13 | |
13 | |
17 | |
18 | |
19 | |
19 | |
20 | |
21 | |
21 | |
22 | |
22 | |
23 | |
23 | |
24 | |
24 | |
24 | |
24 | |
24 | |
24 | |
24 | |
24 | |
25 |
FUND NAME |
FUND CODE |
BetaBuilders Canada ETF |
1 |
BetaBuilders Developed Asia Pacific ex-Japan ETF |
2 |
BetaBuilders Europe ETF |
3 |
BetaBuilders International Equity ETF |
4 |
BetaBuilders Japan ETF |
5 |
BetaBuilders U.S. Equity ETF |
6 |
BetaBuilders U.S. Mid Cap Equity ETF |
7 |
FUND NAME |
FUND CODE |
BetaBuilders U.S. Small Cap Equity ETF |
8 |
Carbon Transition U.S. Equity ETF |
9 |
Emerging Markets Equity ETF |
10 |
International Equity ETF |
11 |
U.S. Equity ETF |
12 |
U.S. Mid Cap Equity ETF |
13 |
U.S. Small Cap Equity ETF |
14 |
U.S. Momentum Factor ETF |
15 |
U.S. Quality Factor ETF |
16 |
U.S. Value Factor ETF |
17 |
Instrument |
Fund Code |
Part II Section Reference |
Bank Obligations: Bankers’ acceptances, certificates of deposit and time deposits. Bankers’ acceptances are bills of exchange or time drafts drawn on and accepted by a commercial bank. Maturities are generally six months or less. Certificates of deposit are negotiable certificates issued by a bank for a specified period of time and earning a specified return. Time deposits are non-negotiable receipts issued by a bank in exchange for the deposit of funds. |
1-17 |
Bank Obligations |
Borrowings: A Fund may borrow for temporary purposes and/or for investment purposes. Such a practice will result in leveraging of a Fund’s assets and may cause a Fund to liquidate portfolio positions when it would not be advantageous to do so. A Fund must maintain continuous asset coverage of 300% of the amount borrowed, with the exception for borrowings not in excess of 5% of a Fund’s total assets made for temporary administrative purposes. |
1-17 |
Miscellaneous Investment Strategies and Risks |
Commercial Paper: Secured and unsecured short-term promissory notes issued by corporations and other entities. Maturities generally vary from a few days to nine months. |
1-17 |
Commercial Paper |
Common Stock: Shares of ownership of a company. |
1-17 |
Equity Securities, Warrants and Rights |
Common Stock Warrants and Rights: Securities, typically issued with preferred stock or bonds, that give the holder the right to buy a proportionate amount of common stock at a specified price. |
1-17 |
Equity Securities, Warrants and Rights |
Convertible Securities: Bonds or preferred stock that can convert to common stock. |
1-7, 9-17 |
Convertible Securities |
Emerging Market Securities: Securities issued by issuers or governments in countries with emerging economies or securities markets which may be undergoing significant evolution and rapid development. |
10 |
Foreign Investments (including Foreign Currencies) |
Exchange-Traded Funds (“ETFs”): Ownership interest in unit investment trusts, depositary receipts, and other pooled investment vehicles that hold a portfolio of securities or stocks designed to track the price performance and dividend yield of a particular broad-based, sector or international index. ETFs include a wide range of investments. |
1-17 |
Investment Company Securities and Exchange- Traded Funds |
Instrument |
Fund Code |
Part II Section Reference |
Foreign Currency Transactions: Strategies used to hedge against currency risks, for other risk management purposes or to increase income or gain to a Fund. These strategies may consist of use of any of the following: options on currencies, currency futures, options on such futures, forward foreign currency transactions (including non- deliverable forwards (“NDFs”)), forward rate agreements and currency swaps, caps and floors. |
1-7, 10-17 |
Foreign Investments (including Foreign Currencies) |
Foreign Investments: Equity securities of foreign entities and obligations of foreign branches of U.S. banks and foreign banks. Foreign securities may also include American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”), European Depositary Receipts (“EDRs”) and American Depositary Securities (“ADSs”). A Fund may also use forward foreign currency contracts in connection with its foreign investments. |
1-7, 9-17 |
Foreign Investments (including Foreign Currencies) |
Interfund Lending: Involves lending money and borrowing money for temporary purposes through a credit facility. |
1-17 |
Miscellaneous Investment Strategies and Risks |
Investment Company Securities: Shares of other investment companies, including money market funds for which the Adviser and/or its affiliates serve as investment adviser or administrator. The Adviser will waive certain fees when investing in funds for which it serves as investment adviser, to the extent required by law or by contract. |
1-17 |
Investment Company Securities and Exchange- Traded Funds |
Master Limited Partnerships (“MLPs”): Limited partnerships that are publicly traded on a securities exchange. |
6-9, 12-17 |
Master Limited Partnerships |
New Financial Products: New options and futures contracts and other financial products continue to be developed and a Fund may invest in such options, contracts and products. |
1-17 |
Miscellaneous Investment Strategies and Risks |
Options and Futures Transactions: A Fund may purchase and sell (a) exchange traded and over-the-counter put and call options on securities, indexes of securities and futures contracts on securities and indexes of securities and (b) futures contracts on securities and indexes of securities. |
1-17 |
Options and Futures Transactions |
Preferred Stock: A class of stock that generally pays a dividend at a specified rate and has preference over common stock in the payment of dividends and in liquidation. |
1-17 |
Equity Securities, Warrants and Rights |
Private Placements, Restricted Securities and Other Unregistered Securities: Securities not registered under the Securities Act of 1933, such as privately placed commercial paper and Rule 144A securities. |
1-7, 10-17 |
Miscellaneous Investment Strategies and Risks |
Real Estate Investment Trusts (“REITs”): Pooled investment vehicles which invest primarily in income producing real estate or real estate related loans or interest. |
1-17 |
Real Estate Investment Trusts |
Securities Issued in Connection with Reorganizations and Corporate Restructurings: In connection with reorganizing or restructuring of an issuer, an issuer may issue common stock or other securities to holders of its debt securities. |
1-17 |
Miscellaneous Investment Strategies and Risks |
Securities Lending: The lending of up to 33 1∕3% of a Fund’s total assets. In return a Fund will receive cash as collateral. |
1-17 |
Securities Lending |
Instrument |
Fund Code |
Part II Section Reference |
U.S. Government Obligations: May include direct obligations of the U.S. Treasury, including Treasury bills, notes and bonds, all of which are backed as to principal and interest payments by the full faith and credit of the United States, and separately traded principal and interest component parts of such obligations that are transferable through the Federal book-entry system known as Separate Trading of Registered Interest and Principal of Securities (“STRIPS”) and Coupons Under Book Entry Safekeeping (“CUBES”). |
1-17 |
U.S. Government Obligations |
When-Issued Securities, Delayed Delivery Securities and Forward Commitments: Purchase or contract to purchase securities at a fixed price for delivery at a future date. |
1-17 |
When-Issued Securities, Delayed Delivery Securities and Forward Commitments |
|
Fiscal Year Ended October 31, | |
Fund |
2021 |
2022 |
BetaBuilders Canada ETF |
2% |
5% |
BetaBuilders Developed Asia Pacific ex-Japan ETF |
6% |
14% |
BetaBuilders Europe ETF |
6% |
7% |
BetaBuilders International Equity ETF |
5% |
6% |
|
Fiscal Year Ended October 31, | |
Fund |
2021 |
2022 |
BetaBuilders Japan ETF |
3% |
4% |
BetaBuilders U.S. Equity ETF |
4% |
4% |
BetaBuilders U.S. Mid Cap Equity ETF |
27% |
30% |
BetaBuilders U.S. Small Cap Equity ETF1 |
27% |
30% |
Carbon Transition U.S. Equity ETF2 |
27% |
16% |
Emerging Markets Equity ETF |
29% |
33% |
International Equity ETF |
35% |
28% |
U.S. Equity ETF |
33% |
22% |
U.S. Mid Cap Equity ETF |
34% |
24% |
U.S. Momentum Factor ETF |
44% |
43% |
U.S. Quality Factor ETF |
21% |
18% |
U.S. Small Cap Equity ETF |
37% |
26% |
U.S. Value Factor ETF |
34% |
21% |
Committee |
Fiscal Year Ended October 31, 2022 |
Audit and Valuation Committee |
4 |
Compliance Committee* |
4 |
Governance and Nominating Committee** |
1 |
Governance Committee* |
3 |
Equity Committee* |
4 |
ETF Committee* |
3 |
Fixed Income Committee* |
3 |
Money Market and Alternative Products Committee* |
5 |
Oversight Committee for Insurance and Performance Reports** |
0 |
Name of Trustee |
Dollar Range of Equity Securities in BetaBuilders Canada ETF |
Dollar Range of Equity Securities in BetaBuilders Developed Asia Pacific ex-Japan ETF |
Dollar Range of Equity Securities in BetaBuilders Europe ETF |
Dollar Range of Equity Securities in BetaBuilders International Equity ETF |
Dollar Range of Equity Securities in BetaBuilders Japan ETF |
Independent Trustees |
|
|
|
|
|
John F. Finn |
None |
None |
None |
None |
None |
Stephen P. Fisher |
None |
None |
None |
None |
None |
Gary L. French |
None |
None |
None |
None |
None |
Kathleen M. Gallagher |
None |
None |
None |
None |
None |
Robert J. Grassi |
None |
$10,001– $50,000 |
None |
$10,001– $50,000 |
None |
Frankie D. Hughes |
None |
None |
None |
None |
None |
Raymond Kanner |
None |
None |
None |
None |
None |
Thomas P. Lemke |
None |
None |
None |
None |
None |
Lawrence R. Maffia |
None |
None |
None |
$50,001– $100,000 |
None |
Mary E. Martinez |
None |
None |
None |
None |
None |
Marilyn McCoy |
None |
None |
None |
None |
None |
Dr. Robert A. Oden, Jr. |
None |
None |
None |
None |
None |
Marian U. Pardo |
None |
None |
None |
None |
None |
Emily A. Youssouf |
None |
None |
None |
None |
None |
Interested Trustees |
|
|
|
|
|
Robert Deutsch |
None |
None |
None |
None |
None |
Nina O. Shenker |
None |
None |
None |
None |
None |
Name of Trustee |
Dollar Range of Equity Securities in BetaBuilders U.S. Equity ETF |
Dollar Range of Equity Securities in BetaBuilders U.S. Mid Cap Equity ETF |
Dollar Range of Equity Securities in BetaBuilders U.S. Small Cap Equity ETF |
Dollar Range of Equity Securities in Carbon Transition U.S. Equity ETF |
Dollar Range of Equity Securities in Emerging Markets Equity ETF |
Independent Trustees |
|
|
|
|
|
John F. Finn |
None |
None |
None |
None |
None |
Stephen P. Fisher |
None |
None |
None |
None |
None |
Gary L. French |
None |
None |
None |
None |
None |
Kathleen M. Gallagher |
None |
None |
None |
None |
None |
Robert J. Grassi |
$10,001– $50,000 |
$10,001– $50,000 |
$10,001– $50,000 |
None |
$10,001– $50,000 |
Frankie D. Hughes |
None |
None |
None |
None |
None |
Raymond Kanner |
None |
None |
None |
None |
None |
Thomas P. Lemke |
None |
None |
None |
None |
None |
Lawrence R. Maffia |
None |
None |
None |
None |
None |
Mary E. Martinez |
None |
None |
None |
None |
None |
Marilyn McCoy |
None |
None |
None |
None |
None |
Dr. Robert A. Oden, Jr. |
None |
None |
None |
None |
None |
Marian U. Pardo |
None |
None |
None |
None |
None |
Emily A. Youssouf |
None |
None |
None |
None |
None |
Interested Trustees |
|
|
|
|
|
Robert Deutsch |
None |
None |
None |
None |
None |
Nina O. Shenker |
None |
None |
None |
None |
None |
Name of Trustee |
Dollar Range of Equity Securities in International Equity ETF |
Dollar Range of Equity Securities in U.S. Equity ETF |
Dollar Range of Equity Securities in U.S. Mid Cap Equity ETF |
Dollar Range of Equity Securities in U.S. Momentum Factor ETF |
Dollar Range of Equity Securities in U.S. Quality Factor ETF |
Independent Trustees |
|
|
|
|
|
John F. Finn |
None |
None |
None |
None |
None |
Stephen P. Fisher |
None |
None |
None |
None |
None |
Gary L. French |
None |
None |
None |
None |
None |
Kathleen M. Gallagher |
None |
None |
None |
None |
None |
Robert J. Grassi |
None |
None |
None |
None |
None |
Frankie D. Hughes |
None |
None |
None |
None |
None |
Raymond Kanner |
None |
None |
None |
None |
None |
Thomas P. Lemke |
None |
None |
None |
None |
None |
Lawrence R. Maffia |
None |
None |
None |
None |
None |
Mary E. Martinez |
None |
None |
None |
None |
None |
Marilyn McCoy |
None |
None |
None |
None |
None |
Dr. Robert A. Oden, Jr. |
None |
None |
None |
None |
None |
Marian U. Pardo |
None |
None |
None |
None |
None |
Emily A. Youssouf |
None |
$10,001– $50,000 |
None |
None |
None |
Interested Trustees |
|
|
|
|
|
Robert Deutsch |
None |
None |
None |
None |
None |
Nina O. Shenker |
None |
None |
None |
None |
None |
Name of Trustee |
Dollar Range of Equity Securities in U.S. Small Cap Equity ETF |
Dollar Range of Equity Securities in U.S. Value Factor ETF |
Aggregate Dollar Range of Equity Securities in All Registered Investment Companies Overseen by the Trustee in Family of Investment Companies1,2 |
Independent Trustees |
|
|
|
John F. Finn |
None |
None |
Over $100,000 |
Stephen P. Fisher |
None |
None |
Over $100,000 |
Gary L. French |
None |
None |
Over $100,000 |
Kathleen M. Gallagher |
None |
None |
Over $100,000 |
Robert J. Grassi |
None |
None |
Over $100,000 |
Frankie D. Hughes |
None |
None |
Over $100,000 |
Raymond Kanner |
None |
None |
Over $100,000 |
Thomas P. Lemke |
None |
None |
Over $100,000 |
Lawrence R. Maffia |
None |
None |
Over $100,000 |
Mary E. Martinez |
None |
None |
Over $100,000 |
Marilyn McCoy |
None |
None |
Over $100,000 |
Dr. Robert A. Oden, Jr. |
None |
None |
Over $100,000 |
Marian U. Pardo |
None |
None |
Over $100,000 |
Emily A. Youssouf |
None |
None |
Over $100,000 |
Interested Trustees |
|
|
|
Robert Deutsch |
None |
None |
Over $100,000 |
Nina O. Shenker |
None |
None |
Over $100,000 |
Name of Trustee |
BetaBuilders Canada ETF |
BetaBuilders Developed Asia Pacific ex-Japan ETF |
BetaBuilders Europe ETF |
BetaBuilders International Equity ETF |
BetaBuilders Japan ETF |
Independent Trustees |
|
|
|
|
|
John F. Finn |
$3,863 |
$3,051 |
$4,042 |
$2,674 |
$4,151 |
Stephen P. Fisher |
2,763 |
2,339 |
2,858 |
2,143 |
2,914 |
Gary L. French |
2,449 |
2,136 |
2,520 |
1,991 |
2,560 |
Kathleen M. Gallagher |
2,763 |
2,339 |
2,858 |
2,143 |
2,914 |
Robert J. Grassi |
2,449 |
2,136 |
2,520 |
1,991 |
2,560 |
Frankie D. Hughes |
2,449 |
2,136 |
2,520 |
1,991 |
2,560 |
Raymond Kanner |
2,763 |
2,339 |
2,858 |
2,143 |
2,914 |
Thomas P. Lemke |
2,449 |
2,136 |
2,520 |
1,991 |
2,560 |
Lawrence R. Maffia |
2,449 |
2,136 |
2,520 |
1,991 |
2,560 |
Mary E. Martinez |
3,234 |
2,644 |
3,366 |
2,370 |
3,444 |
Marilyn McCoy |
2,449 |
2,136 |
2,520 |
1,991 |
2,560 |
Dr. Robert A. Oden, Jr. |
2,763 |
2,339 |
2,858 |
2,143 |
2,914 |
Marian U. Pardo |
2,763 |
2,339 |
2,858 |
2,143 |
2,914 |
Emily A. Youssouf |
2,449 |
2,136 |
2,520 |
1,991 |
2,560 |
Interested Trustees |
|
|
|
|
|
Robert Deutsch |
2,763 |
2,339 |
2,858 |
2,143 |
2,914 |
Nina O. Shenker |
2,449 |
2,136 |
2,520 |
1,991 |
2,560 |
Name of Trustee |
BetaBuilders U.S. Equity ETF |
BetaBuilders U.S. Mid Cap Equity ETF |
BetaBuilders U.S. Small Cap Equity ETF |
Carbon Transition U.S. Equity ETF |
Emerging Markets Equity ETF |
Independent Trustees |
|
|
|
|
|
John F. Finn |
$1,967 |
$2,107 |
$1,733 |
$1,571 |
$1,624 |
Stephen P. Fisher |
1,774 |
1,847 |
1,652 |
1,567 |
1,594 |
Gary L. French |
1,718 |
1,772 |
1,628 |
1,566 |
1,586 |
Kathleen M. Gallagher |
1,774 |
1,847 |
1,652 |
1,567 |
1,594 |
Robert J. Grassi |
1,718 |
1,773 |
1,628 |
1,566 |
1,586 |
Frankie D. Hughes |
1,718 |
1,773 |
1,628 |
1,566 |
1,586 |
Raymond Kanner |
1,774 |
1,847 |
1,652 |
1,567 |
1,594 |
Thomas P. Lemke |
1,718 |
1,772 |
1,628 |
1,566 |
1,586 |
Lawrence R. Maffia |
1,718 |
1,773 |
1,628 |
1,566 |
1,586 |
Mary E. Martinez |
1,857 |
1,959 |
1,687 |
1,569 |
1,607 |
Name of Trustee |
BetaBuilders U.S. Equity ETF |
BetaBuilders U.S. Mid Cap Equity ETF |
BetaBuilders U.S. Small Cap Equity ETF |
Carbon Transition U.S. Equity ETF |
Emerging Markets Equity ETF |
Marilyn McCoy |
$1,718 |
$1,773 |
$1,628 |
$1,566 |
$1,586 |
Dr. Robert A. Oden, Jr. |
1,774 |
1,847 |
1,652 |
1,567 |
1,594 |
Marian U. Pardo |
1,774 |
1,847 |
1,652 |
1,567 |
1,594 |
Emily A. Youssouf |
1,718 |
1,772 |
1,628 |
1,566 |
1,586 |
Interested Trustees |
|
|
|
|
|
Robert Deutsch |
1,774 |
1,847 |
1,652 |
1,567 |
1,594 |
Nina O. Shenker |
1,718 |
1,773 |
1,628 |
1,566 |
1,586 |
Name of Trustee |
International Equity ETF |
U.S. Equity ETF |
U.S. Mid Cap Equity ETF |
U.S. Momentum Factor ETF |
U.S. Quality Factor ETF |
Independent Trustees |
|
|
|
|
|
John F. Finn |
$1,844 |
$1,773 |
$1,656 |
$1,650 |
$1,736 |
Stephen P. Fisher |
1,709 |
1,672 |
1,611 |
1,608 |
1,653 |
Gary L. French |
1,671 |
1,644 |
1,598 |
1,596 |
1,629 |
Kathleen M. Gallagher |
1,709 |
1,672 |
1,611 |
1,608 |
1,653 |
Robert J. Grassi |
1,671 |
1,644 |
1,598 |
1,596 |
1,629 |
Frankie D. Hughes |
1,671 |
1,644 |
1,598 |
1,596 |
1,629 |
Raymond Kanner |
1,709 |
1,672 |
1,611 |
1,608 |
1,653 |
Thomas P. Lemke |
1,671 |
1,644 |
1,598 |
1,596 |
1,629 |
Lawrence R. Maffia |
1,671 |
1,644 |
1,598 |
1,596 |
1,629 |
Mary E. Martinez |
1,767 |
1,715 |
1,630 |
1,626 |
1,689 |
Marilyn McCoy |
1,671 |
1,644 |
1,598 |
1,596 |
1,629 |
Dr. Robert A. Oden, Jr. |
1,709 |
1,672 |
1,611 |
1,608 |
1,653 |
Marian U. Pardo |
1,709 |
1,672 |
1,611 |
1,608 |
1,653 |
Emily A. Youssouf |
1,671 |
1,644 |
1,598 |
1,596 |
1,629 |
Interested Trustees |
|
|
|
|
|
Robert Deutsch |
1,709 |
1,672 |
1,611 |
1,608 |
1,653 |
Nina O. Shenker |
1,671 |
1,644 |
1,598 |
1,596 |
1,629 |
Name of Trustee |
U.S. Small Cap Equity ETF |
U.S. Value Factor ETF |
Total Compensation Paid From Fund Complex1 |
Independent Trustees |
|
|
|
John F. Finn |
$1,645 |
$1,753 |
$620,000 |
Stephen P. Fisher |
1,605 |
1,662 |
445,000 |
Gary L. French |
1,594 |
1,636 |
395,0002 |
Kathleen M. Gallagher |
1,605 |
1,662 |
445,0003 |
Robert J. Grassi |
1,594 |
1,636 |
395,000 |
Frankie D. Hughes |
1,594 |
1,636 |
395,000 |
Raymond Kanner |
1,605 |
1,662 |
445,0004 |
Thomas P. Lemke |
1,594 |
1,636 |
395,0005 |
Lawrence R. Maffia |
1,594 |
1,636 |
395,000 |
Mary E. Martinez |
1,622 |
1,701 |
520,000 |
Marilyn McCoy |
1,594 |
1,636 |
395,0006 |
Dr. Robert A. Oden, Jr. |
1,605 |
1,662 |
445,000 |
Marian U. Pardo |
1,605 |
1,662 |
445,000 |
Emily A. Youssouf |
1,594 |
1,636 |
395,0007 |
Interested Trustees |
|
|
|
Robert Deutsch |
1,605 |
1,662 |
445,0008 |
Nina O. Shenker |
1,594 |
1,636 |
395,0006 |
|
Fiscal Year Ended | ||
Fund |
October 31, 2020 |
October 31, 2021 |
October 31, 2022 |
BetaBuilders Canada ETF |
$6,935,231 |
$9,726,400 |
$11,811,284 |
BetaBuilders Developed Asia Pacific ex-Japan ETF |
2,635,568 |
6,484,147 |
7,680,737 |
BetaBuilders Europe ETF |
3,630,628 |
5,789,550 |
6,656,195 |
BetaBuilders International Equity ETF |
505,577 |
2,317,139 |
2,134,418 |
BetaBuilders Japan ETF |
7,842,035 |
15,297,547 |
13,462,470 |
BetaBuilders U.S. Equity ETF |
24,510 |
100,002 |
205,372 |
BetaBuilders U.S. Mid Cap Equity ETF1 |
20,216 |
1,099,041 |
1,028,162 |
BetaBuilders U.S. Small Cap Equity ETF2 |
N/A |
258,599 |
403,474 |
Carbon Transition U.S. Equity ETF3 |
N/A |
33,812 |
33,879 |
Emerging Markets Equity ETF |
1,309,585 |
888,150 |
722,512 |
International Equity ETF |
3,917,506 |
3,290,283 |
2,840,842 |
U.S. Equity ETF |
1,189,879 |
1,187,391 |
1,045,759 |
U.S. Mid Cap Equity ETF |
497,635 |
592,509 |
590,788 |
U.S. Momentum Factor ETF |
108,421 |
214,553 |
283,720 |
U.S. Quality Factor ETF |
297,250 |
475,911 |
545,487 |
U.S. Small Cap Equity ETF |
433,065 |
504,263 |
606,846 |
U.S. Value Factor ETF |
77,562 |
678,193 |
614,120 |
|
Non-Performance Based Fee Advisory Accounts | |||||
|
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | |||
Fund |
Number of Accounts |
Total Assets ($ thousands) |
Number of Accounts |
Total Assets ($ thousands) |
Number of Accounts |
Total Assets ($ thousands) |
BetaBuilders Canada ETF | ||||||
Nicholas D’Eramo |
18 |
$43,849,420 |
9 |
$23,557,221 |
4 |
$500,362 |
Michael Loeffler |
18 |
43,849,420 |
9 |
23,557,221 |
4 |
500,362 |
Oliver Furby |
11 |
27,106,090 |
9 |
23,557,221 |
2 |
215,913 |
Alex Hamilton |
11 |
27,106,090 |
9 |
23,557,221 |
2 |
215,913 |
BetaBuilders Developed Asia Pacific ex-Japan ETF | ||||||
Nicholas D’Eramo |
18 |
46,081,682 |
9 |
23,557,221 |
4 |
500,362 |
Michael Loeffler |
18 |
46,081,682 |
9 |
23,557,221 |
4 |
500,362 |
Oliver Furby |
11 |
29,338,352 |
9 |
23,557,221 |
2 |
215,913 |
Alex Hamilton |
11 |
29,338,352 |
9 |
23,557,221 |
2 |
215,913 |
BetaBuilders Europe ETF | ||||||
Nicholas D’Eramo |
18 |
45,966,006 |
9 |
23,557,221 |
4 |
500,362 |
Michael Loeffler |
18 |
45,966,006 |
9 |
23,557,221 |
4 |
500,362 |
|
Non-Performance Based Fee Advisory Accounts | |||||
|
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | |||
Fund |
Number of Accounts |
Total Assets ($ thousands) |
Number of Accounts |
Total Assets ($ thousands) |
Number of Accounts |
Total Assets ($ thousands) |
Oliver Furby |
11 |
$29,222,676 |
9 |
$23,557,221 |
2 |
$215,913 |
Alex Hamilton |
11 |
29,222,676 |
9 |
23,557,221 |
2 |
215,913 |
BetaBuilders International Equity ETF | ||||||
Nicholas D’Eramo |
18 |
46,783,450 |
9 |
23,557,221 |
4 |
500,362 |
Michael Loeffler |
18 |
46,783,450 |
9 |
23,557,221 |
4 |
500,362 |
Oliver Furby |
11 |
30,040,120 |
9 |
23,557,221 |
2 |
215,913 |
Alex Hamilton |
11 |
30,040,120 |
9 |
23,557,221 |
2 |
215,913 |
BetaBuilders Japan ETF | ||||||
Nicholas D’Eramo |
18 |
43,271,833 |
9 |
23,557,221 |
4 |
500,362 |
Michael Loeffler |
18 |
43,271,833 |
9 |
23,557,221 |
4 |
500,362 |
Oliver Furby |
11 |
26,528,503 |
9 |
23,557,221 |
2 |
215,913 |
Alex Hamilton |
11 |
26,528,503 |
9 |
23,557,221 |
2 |
215,913 |
BetaBuilders U.S. Equity ETF | ||||||
Nicholas D’Eramo |
18 |
48,217,170 |
9 |
23,557,221 |
4 |
500,362 |
Michael Loeffler |
18 |
48,217,170 |
9 |
23,557,221 |
4 |
500,362 |
Oliver Furby |
11 |
31,473,840 |
9 |
23,557,221 |
2 |
215,913 |
Alex Hamilton |
11 |
31,473,840 |
9 |
23,557,221 |
2 |
215,913 |
BetaBuilders U.S. Mid Cap Equity ETF | ||||||
Nicholas D’Eramo |
18 |
48,103,129 |
9 |
23,557,221 |
4 |
500,362 |
Michael Loeffler |
18 |
48,103,129 |
9 |
23,557,221 |
4 |
500,362 |
Oliver Furby |
11 |
31,359,799 |
9 |
23,557,221 |
2 |
215,913 |
Alex Hamilton |
11 |
31,359,799 |
9 |
23,557,221 |
2 |
215,913 |
BetaBuilders U.S. Small Cap Equity ETF | ||||||
Nicholas D’Eramo |
18 |
48,998,931 |
9 |
23,557,221 |
4 |
500,362 |
Michael Loeffler |
18 |
48,998,931 |
9 |
23,557,221 |
4 |
500,362 |
Oliver Furby |
11 |
32,255,601 |
9 |
23,557,221 |
2 |
215,913 |
Alex Hamilton |
11 |
32,255,601 |
9 |
23,557,221 |
2 |
215,913 |
Carbon Transition U.S. Equity ETF | ||||||
Yazann Romahi |
10 |
3,207,582 |
12 |
2,800,318 |
6 |
394,474 |
Aijaz Hussain |
6 |
1,557,035 |
14 |
2,029,181 |
3 |
33,138 |
Natalia Zvereva |
0 |
0 |
0 |
0 |
0 |
0 |
Emerging Markets Equity ETF | ||||||
Yazann Romahi |
10 |
3,064,397 |
12 |
2,800,318 |
6 |
394,474 |
Joe Staines |
12 |
4,287,160 |
17 |
3,821,183 |
3 |
344,115 |
Kartik Aiyar |
3 |
1,645,075 |
10 |
3,137,036 |
3 |
322,498 |
Yegang (Steven) Wu |
11 |
3,615,825 |
13 |
3,786,835 |
3 |
4,525,220 |
Natalia Zvereva |
0 |
0 |
0 |
0 |
0 |
0 |
International Equity ETF | ||||||
Yazann Romahi |
10 |
2,557,195 |
12 |
2,800,318 |
6 |
394,474 |
Joe Staines |
12 |
3,779,958 |
17 |
3,821,183 |
3 |
344,115 |
Kartik Aiyar |
3 |
1,137,873 |
10 |
3,137,036 |
3 |
322,498 |
Yegang (Steven) Wu |
12 |
3,779,958 |
13 |
3,786,835 |
3 |
4,525,220 |
Natalia Zvereva |
0 |
0 |
0 |
0 |
0 |
0 |
U.S. Equity ETF | ||||||
Yazann Romahi |
10 |
2,721,248 |
12 |
2,800,318 |
6 |
394,474 |
Joe Staines |
12 |
3,944,011 |
17 |
3,821,183 |
3 |
344,115 |
Yegang (Steven) Wu |
11 |
3,272,676 |
13 |
3,786,835 |
3 |
4,525,220 |
Natalia Zvereva |
0 |
0 |
0 |
0 |
0 |
0 |
U.S. Mid Cap Equity ETF | ||||||
Yazann Romahi |
10 |
2,961,011 |
12 |
2,800,318 |
6 |
394,474 |
Joe Staines |
12 |
4,183,774 |
17 |
3,821,183 |
3 |
344,115 |
Yegang (Steven) Wu |
11 |
3,512,439 |
13 |
3,786,835 |
3 |
4,525,220 |
Natalia Zvereva |
0 |
0 |
0 |
0 |
0 |
0 |
U.S. Small Cap Equity ETF | ||||||
Yazann Romahi |
10 |
2,941,598 |
12 |
2,800,318 |
6 |
394,474 |
Joe Staines |
12 |
4,164,361 |
17 |
3,821,183 |
3 |
344,115 |
Yegang (Steven) Wu |
11 |
3,493,025 |
13 |
3,786,835 |
3 |
4,525,220 |
|
Non-Performance Based Fee Advisory Accounts | |||||
|
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | |||
Fund |
Number of Accounts |
Total Assets ($ thousands) |
Number of Accounts |
Total Assets ($ thousands) |
Number of Accounts |
Total Assets ($ thousands) |
Natalia Zvereva |
0 |
$0 |
0 |
$0 |
0 |
$0 |
U.S. Momentum Factor ETF | ||||||
Yazann Romahi |
10 |
2,999,245 |
12 |
2,800,318 |
6 |
394,474 |
Joe Staines |
12 |
4,222,008 |
17 |
3,821,183 |
3 |
344,115 |
Yegang (Steven) Wu |
11 |
3,550,673 |
13 |
3,786,835 |
3 |
4,525,220 |
Natalia Zvereva |
0 |
0 |
0 |
0 |
0 |
0 |
U.S. Quality Factor ETF | ||||||
Yazann Romahi |
10 |
2,644,988 |
12 |
2,800,318 |
6 |
394,474 |
Joe Staines |
12 |
3,867,751 |
17 |
3,821,183 |
3 |
344,115 |
Yegang (Steven) Wu |
11 |
3,196,416 |
13 |
3,786,835 |
3 |
4,525,220 |
Natalia Zvereva |
0 |
0 |
0 |
0 |
0 |
0 |
U.S. Value Factor ETF | ||||||
Yazann Romahi |
10 |
2,784,447 |
12 |
2,800,318 |
6 |
394,474 |
Joe Staines |
12 |
4,007,210 |
17 |
3,821,183 |
3 |
344,115 |
Yegang (Steven) Wu |
11 |
3,335,875 |
13 |
3,786,835 |
3 |
4,525,220 |
Natalia Zvereva |
0 |
0 |
0 |
0 |
0 |
0 |
|
Performance Based Fee Advisory Accounts | |||||
|
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | |||
Fund |
Number of Accounts |
Total Assets ($ thousands) |
Number of Accounts |
Total Assets ($ thousands) |
Number of Accounts |
Total Assets ($ thousands) |
BetaBuilders Canada ETF | ||||||
Nicholas D’Eramo |
0 |
$0 |
0 |
$0 |
0 |
$0 |
Michael Loeffler |
0 |
0 |
0 |
0 |
0 |
0 |
Oliver Furby |
0 |
0 |
0 |
0 |
0 |
0 |
Alex Hamilton |
0 |
0 |
0 |
0 |
0 |
0 |
BetaBuilders Developed Asia Pacific ex-Japan ETF | ||||||
Nicholas D’Eramo |
0 |
0 |
0 |
0 |
0 |
0 |
Michael Loeffler |
0 |
0 |
0 |
0 |
0 |
0 |
Oliver Furby |
0 |
0 |
0 |
0 |
0 |
0 |
Alex Hamilton |
0 |
0 |
0 |
0 |
0 |
0 |
BetaBuilders Europe ETF | ||||||
Nicholas D’Eramo |
0 |
0 |
0 |
0 |
0 |
0 |
Michael Loeffler |
0 |
0 |
0 |
0 |
0 |
0 |
Oliver Furby |
0 |
0 |
0 |
0 |
0 |
0 |
Alex Hamilton |
0 |
0 |
0 |
0 |
0 |
0 |
BetaBuilders International Equity ETF | ||||||
Nicholas D’Eramo |
0 |
0 |
0 |
0 |
0 |
0 |
Michael Loeffler |
0 |
0 |
0 |
0 |
0 |
0 |
Oliver Furby |
0 |
0 |
0 |
0 |
0 |
0 |
Alex Hamilton |
0 |
0 |
0 |
0 |
0 |
0 |
BetaBuilders Japan ETF | ||||||
Nicholas D’Eramo |
0 |
0 |
0 |
0 |
0 |
0 |
Michael Loeffler |
0 |
0 |
0 |
0 |
0 |
0 |
Oliver Furby |
0 |
0 |
0 |
0 |
0 |
0 |
Alex Hamilton |
0 |
0 |
0 |
0 |
0 |
0 |
BetaBuilders U.S. Equity ETF | ||||||
Nicholas D’Eramo |
0 |
0 |
0 |
0 |
0 |
0 |
Michael Loeffler |
0 |
0 |
0 |
0 |
0 |
0 |
Oliver Furby |
0 |
0 |
0 |
0 |
0 |
0 |
Alex Hamilton |
0 |
0 |
0 |
0 |
0 |
0 |
BetaBuilders U.S. Mid Cap Equity ETF | ||||||
Nicholas D’Eramo |
0 |
0 |
0 |
0 |
0 |
0 |
Michael Loeffler |
0 |
0 |
0 |
0 |
0 |
0 |
|
Performance Based Fee Advisory Accounts | |||||
|
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | |||
Fund |
Number of Accounts |
Total Assets ($ thousands) |
Number of Accounts |
Total Assets ($ thousands) |
Number of Accounts |
Total Assets ($ thousands) |
Oliver Furby |
0 |
$0 |
0 |
$0 |
0 |
$0 |
Alex Hamilton |
0 |
0 |
0 |
0 |
0 |
0 |
BetaBuilders U.S. Small Cap Equity ETF | ||||||
Nicholas D’Eramo |
0 |
0 |
0 |
0 |
0 |
0 |
Michael Loeffler |
0 |
0 |
0 |
0 |
0 |
0 |
Oliver Furby |
0 |
0 |
0 |
0 |
0 |
0 |
Alex Hamilton |
0 |
0 |
0 |
0 |
0 |
0 |
Carbon Transition U.S. Equity ETF | ||||||
Yazann Romahi |
0 |
0 |
0 |
0 |
1 |
426,517 |
Aijaz Hussain |
0 |
0 |
0 |
0 |
0 |
0 |
Natalia Zvereva |
0 |
0 |
0 |
0 |
0 |
0 |
Emerging Markets Equity ETF | ||||||
Yazann Romahi |
0 |
0 |
0 |
0 |
1 |
426,517 |
Joe Staines |
0 |
0 |
0 |
0 |
0 |
0 |
Kartik Aiyar |
0 |
0 |
0 |
0 |
1 |
426,517 |
Yegang (Steven) Wu |
0 |
0 |
0 |
0 |
0 |
0 |
Natalia Zvereva |
0 |
0 |
0 |
0 |
0 |
0 |
International Equity ETF | ||||||
Yazann Romahi |
0 |
0 |
0 |
0 |
1 |
426,517 |
Joe Staines |
0 |
0 |
0 |
0 |
0 |
0 |
Kartik Aiyar |
0 |
0 |
0 |
0 |
1 |
426,517 |
Yegang (Steven) Wu |
0 |
0 |
0 |
0 |
0 |
0 |
Natalia Zvereva |
0 |
0 |
0 |
0 |
0 |
0 |
U.S. Equity ETF | ||||||
Yazann Romahi |
0 |
0 |
0 |
0 |
1 |
426,517 |
Joe Staines |
0 |
0 |
0 |
0 |
0 |
0 |
Yegang (Steven) Wu |
0 |
0 |
0 |
0 |
0 |
0 |
Natalia Zvereva |
0 |
0 |
0 |
0 |
0 |
0 |
U.S. Mid Cap Equity ETF | ||||||
Yazann Romahi |
0 |
0 |
0 |
0 |
1 |
426,517 |
Joe Staines |
0 |
0 |
0 |
0 |
0 |
0 |
Yegang (Steven) Wu |
0 |
0 |
0 |
0 |
0 |
0 |
Natalia Zvereva |
0 |
0 |
0 |
0 |
0 |
0 |
U.S. Small Cap Equity ETF | ||||||
Yazann Romahi |
0 |
0 |
0 |
0 |
1 |
426,517 |
Joe Staines |
0 |
0 |
0 |
0 |
0 |
0 |
Yegang (Steven) Wu |
0 |
0 |
0 |
0 |
0 |
0 |
Natalia Zvereva |
0 |
0 |
0 |
0 |
0 |
0 |
U.S. Momentum Factor ETF | ||||||
Yazann Romahi |
0 |
0 |
0 |
0 |
1 |
426,517 |
Joe Staines |
0 |
0 |
0 |
0 |
0 |
0 |
Yegang (Steven) Wu |
0 |
0 |
0 |
0 |
0 |
0 |
Natalia Zvereva |
0 |
0 |
0 |
0 |
0 |
0 |
U.S. Quality Factor ETF | ||||||
Yazann Romahi |
0 |
0 |
0 |
0 |
1 |
426,517 |
Joe Staines |
0 |
0 |
0 |
0 |
0 |
0 |
Yegang (Steven) Wu |
0 |
0 |
0 |
0 |
0 |
0 |
Natalia Zvereva |
0 |
0 |
0 |
0 |
0 |
0 |
U.S. Value Factor ETF | ||||||
Yazann Romahi |
0 |
0 |
0 |
0 |
1 |
426,517 |
Joe Staines |
0 |
0 |
0 |
0 |
0 |
0 |
Yegang (Steven) Wu |
0 |
0 |
0 |
0 |
0 |
0 |
Natalia Zvereva |
0 |
0 |
0 |
0 |
0 |
0 |
|
Aggregate Dollar Range of Securities in the Fund | |||||||
Fund |
None |
$1- $10,000 |
$10,001- $50,000 |
$50,001- $100,000 |
$100,001- $500,000 |
$500,001- $1,000,000 |
Over $1,000,000 | |
BetaBuilders Canada ETF | ||||||||
Nicholas D’Eramo |
|
X |
|
|
|
|
| |
Michael Loeffler |
|
X |
|
|
|
|
| |
Oliver Furby |
|
X |
|
|
|
|
| |
Alex Hamilton |
|
X |
|
|
|
|
| |
BetaBuilders Developed Asia Pacific ex-Japan ETF | ||||||||
Nicholas D’Eramo |
X |
|
|
|
|
|
| |
Michael Loeffler |
|
X |
|
|
|
|
| |
Oliver Furby |
X |
|
|
|
|
|
| |
Alex Hamilton |
X |
|
|
|
|
|
| |
BetaBuilders Europe ETF | ||||||||
Nicholas D’Eramo |
X |
|
|
|
|
|
| |
Michael Loeffler |
|
X |
|
|
|
|
| |
Oliver Furby |
X |
|
|
|
|
|
| |
Alex Hamilton |
X |
|
|
|
|
|
| |
BetaBuilders International Equity ETF | ||||||||
Nicholas D’Eramo |
|
|
X |
|
|
|
| |
Michael Loeffler |
|
|
X |
|
|
|
| |
Oliver Furby |
|
|
X |
|
|
|
| |
Alex Hamilton |
|
|
X |
|
|
|
| |
BetaBuilders Japan ETF | ||||||||
Nicholas D’Eramo |
X |
|
|
|
|
|
| |
Michael Loeffler |
|
X |
|
|
|
|
| |
Oliver Furby |
X |
|
|
|
|
|
| |
Alex Hamilton |
X |
|
|
|
|
|
| |
BetaBuilders U.S. Equity ETF | ||||||||
Nicholas D’Eramo |
|
|
X |
|
|
|
| |
Michael Loeffler |
|
|
X |
|
|
|
| |
Oliver Furby |
|
|
|
X |
|
|
| |
Alex Hamilton |
|
|
X |
|
|
|
| |
BetaBuilders U.S. Mid Cap Equity ETF | ||||||||
Nicholas D’Eramo |
X |
|
|
|
|
|
| |
Michael Loeffler |
X |
|
|
|
|
|
| |
Oliver Furby |
|
X |
|
|
|
|
| |
Alex Hamilton |
X |
|
|
|
|
|
| |
BetaBuilders U.S. Small Cap Equity ETF | ||||||||
Nicholas D’Eramo |
X |
|
|
|
|
|
| |
Michael Loeffler |
X |
|
|
|
|
|
| |
Oliver Furby |
|
X |
|
|
|
|
| |
Alex Hamilton |
|
|
X |
|
|
|
| |
Carbon Transition U.S. Equity ETF | ||||||||
Yazann Romahi |
X |
|
|
|
|
|
| |
Aijaz Hussain |
X |
|
|
|
|
|
| |
Natalia Zvereva |
X |
|
|
|
|
|
| |
Emerging Markets Equity ETF | ||||||||
Yazann Romahi |
X |
|
|
|
|
|
| |
Joe Staines |
X |
|
|
|
|
|
| |
Kartik Aiyar |
X |
|
|
|
|
|
| |
Yegang (Steven) Wu |
X |
|
|
|
|
|
| |
Natalia Zvereva |
X |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
Aggregate Dollar Range of Securities in the Fund | |||||||
Fund |
None |
$1- $10,000 |
$10,001- $50,000 |
$50,001- $100,000 |
$100,001- $500,000 |
$500,001- $1,000,000 |
Over $1,000,000 | |
International Equity ETF | ||||||||
Yazann Romahi |
X |
|
|
|
|
|
| |
Joe Staines |
X |
|
|
|
|
|
| |
Kartik Aiyar |
X |
|
|
|
|
|
| |
Yegang (Steven) Wu |
X |
|
|
|
|
|
| |
Natalia Zvereva |
X |
|
|
|
|
|
| |
U.S. Equity ETF | ||||||||
Yazann Romahi |
X |
|
|
|
|
|
| |
Joe Staines |
X |
|
|
|
|
|
| |
Yegang (Steven) Wu |
X |
|
|
|
|
|
| |
Natalia Zvereva |
X |
|
|
|
|
|
| |
U.S. Mid Cap Equity ETF | ||||||||
Yazann Romahi |
X |
|
|
|
|
|
| |
Joe Staines |
X |
|
|
|
|
|
| |
Yegang (Steven) Wu |
X |
|
|
|
|
|
| |
Natalia Zvereva |
X |
|
|
|
|
|
| |
U.S. Small Cap Equity ETF | ||||||||
Yazann Romahi |
X |
|
|
|
|
|
| |
Joe Staines |
X |
|
|
|
|
|
| |
Yegang (Steven) Wu |
X |
|
|
|
|
|
| |
Natalia Zvereva |
|
X |
|
|
|
|
| |
U.S. Momentum Factor ETF | ||||||||
Yazann Romahi |
X |
|
|
|
|
|
| |
Joe Staines |
X |
|
|
|
|
|
| |
Yegang (Steven) Wu |
X |
|
|
|
|
|
| |
Natalia Zvereva |
X |
|
|
|
|
|
| |
U.S. Quality Factor ETF | ||||||||
Yazann Romahi |
X |
|
|
|
|
|
| |
Joe Staines |
X |
|
|
|
|
|
| |
Yegang (Steven) Wu |
X |
|
|
|
|
|
| |
Natalia Zvereva |
X |
|
|
|
|
|
| |
U.S. Value Factor ETF | ||||||||
Yazann Romahi |
X |
|
|
|
|
|
| |
Joe Staines |
X |
|
|
|
|
|
| |
Yegang (Steven) Wu |
X |
|
|
|
|
|
| |
Natalia Zvereva |
X |
|
|
|
|
|
|
Name of Fund |
Benchmark |
BetaBuilders Canada ETF |
Morningstar® Canada Target Market Exposure IndexSM |
BetaBuilders Developed Asia Pacific ex-Japan ETF |
Morningstar® Developed Asia Pacific ex-Japan Target Market Exposure IndexSM |
BetaBuilders Europe ETF |
Morningstar® Developed Europe Target Market Exposure IndexSM |
BetaBuilders International Equity ETF |
Morningstar® Developed Markets ex-North America Target Market Exposure IndexSM |
BetaBuilders Japan ETF |
Morningstar® Japan Target Market Exposure IndexSM |
BetaBuilders U.S. Equity ETF |
Morningstar® US Target Market Exposure IndexSM |
BetaBuilders U.S. Mid Cap Equity ETF |
Morningstar® US Mid Cap Target Market Exposure Extended IndexSM |
BetaBuilders U.S. Small Cap Equity ETF |
Morningstar® US Small Cap Target Market Exposure Extended IndexSM |
Carbon Transition U.S. Equity ETF |
JPMorgan Asset Management Carbon Transition U.S. Equity Index |
Russell 1000 Index |
Name of Fund |
Benchmark |
Emerging Markets Equity ETF |
JP Morgan Diversified Factor Emerging Markets Equity Index |
FTSE Emerging Index | |
International Equity ETF |
JP Morgan Diversified Factor International Equity Index |
FTSE Developed ex North America Index | |
U.S. Equity ETF |
JP Morgan Diversified Factor US Equity Index |
Russell 1000 Index | |
U.S. Mid Cap Equity ETF |
JP Morgan Diversified Factor US Mid Cap Equity Index |
Russell Midcap Index | |
U.S. Small Cap Equity ETF |
JP Morgan Diversified Factor US Small Cap Equity Index |
Russell 2000 Index | |
U.S. Momentum Factor ETF |
JP Morgan US Momentum Factor Index |
Russell 1000 Growth Index | |
U.S. Quality Factor ETF |
JP Morgan US Quality Factor Index |
Russell 1000 Index | |
U.S. Value Factor ETF |
JP Morgan US Value Factor Index |
Russell 1000 Value Index |
|
Fiscal Year Ended | ||
Fund |
October 31, 2020 |
October 31, 2021 |
October 31, 2022 |
BetaBuilders Canada ETF |
$109,012 |
$149,517 |
$174,442 |
BetaBuilders Developed Asia Pacific ex-Japan ETF |
42,301 |
101,703 |
112,901 |
BetaBuilders Europe ETF |
117,804 |
191,446 |
206,978 |
BetaBuilders International Equity ETF |
57,305 |
184,187 |
171,015 |
BetaBuilders Japan ETF |
123,283 |
233,330 |
198,295 |
BetaBuilders U.S. Equity ETF |
22,421 |
22,500 |
30,076 |
BetaBuilders U.S. Mid Cap Equity ETF1 |
13,102 |
46,295 |
41,510 |
BetaBuilders U.S. Small Cap Equity ETF2 |
N/A |
21,563 |
22,500 |
Carbon Transition U.S. Equity ETF3 |
N/A |
20,625 |
22,500 |
Emerging Markets Equity ETF |
23,018 |
22,500 |
22,500 |
International Equity ETF |
32,272 |
25,558 |
22,811 |
U.S. Equity ETF |
24,489 |
22,500 |
22,500 |
U.S. Mid Cap Equity ETF |
22,694 |
22,500 |
22,500 |
U.S. Momentum Factor ETF |
22,413 |
22,500 |
22,500 |
U.S. Quality Factor ETF |
22,567 |
22,500 |
22,500 |
U.S. Small Cap Equity ETF |
22,628 |
22,500 |
22,500 |
U.S. Value Factor ETF |
22,437 |
24,102 |
22,500 |
|
BetaBuilders Canada ETF |
BetaBuilders Developed Asia Pacific ex-Japan ETF |
BetaBuilders Europe ETF |
BetaBuilders International Equity ETF |
BetaBuilders Japan ETF |
Gross Income from Securities Lending Activities1 |
$5,818,992 |
$795,174 |
$3,263,643 |
$687,759 |
$646,022 |
Fees and/or Compensation for Securities Lending Activities |
|
|
|
|
|
Revenue Split2 |
160,145 |
26,749 |
182,854 |
37,716 |
27,206 |
Cash Collateral Management Fees3 |
391,543 |
444,100 |
133,766 |
22,141 |
38,610 |
Administrative Fees |
— |
— |
— |
— |
— |
Indemnification Fees |
— |
— |
— |
— |
— |
Rebates to Borrowers |
3,221,310 |
(5,076) |
782,702 |
179,384 |
194,327 |
Others Fees |
— |
— |
— |
— |
— |
Aggregate Fees/Compensation for Securities Lending Activities |
3,772,998 |
465,772 |
1,099,322 |
239,241 |
260,144 |
Net Income from the Securities Lending Activities |
2,045,993 |
329,402 |
2,164,320 |
448,518 |
385,878 |
|
BetaBuilders U.S. Equity ETF |
BetaBuilders U.S. Mid Cap Equity ETF |
BetaBuilders U.S. Small Cap Equity ETF |
Diversified Return Emerging Markets Equity ETF |
Diversified Return International Equity ETF |
Gross Income from Securities Lending Activities1 |
$50,612 |
$1,093,851 |
$808,411 |
$4,504 |
$190,163 |
Fees and/or Compensation for Securities Lending Activities |
|
|
|
|
|
Revenue Split2 |
3,314 |
71,432 |
61,947 |
227 |
10,552 |
Cash Collateral Management Fees3 |
2,035 |
25,044 |
11,535 |
398 |
6,482 |
Administrative Fees |
— |
— |
— |
— |
— |
Indemnification Fees |
— |
— |
— |
— |
— |
Rebates to Borrowers |
2,269 |
114,756 |
(31,744) |
90 |
41,503 |
Others Fees |
— |
— |
— |
— |
— |
Aggregate Fees/Compensation for Securities Lending Activities |
7,618 |
211,232 |
41,738 |
714 |
58,537 |
Net Income from the Securities Lending Activities |
42,995 |
882,619 |
766,673 |
3,790 |
131,625 |
|
Diversified Return U.S. Equity ETF |
Diversified Return U.S. Mid Cap Equity ETF |
Diversified Return U.S. Small Cap Equity ETF |
U.S. Momentum Factor ETF |
U.S. Quality Factor ETF |
Gross Income from Securities Lending Activities1 |
$33,605 |
$25,047 |
$273,742 |
$54,557 |
$87,690 |
Fees and/or Compensation for Securities Lending Activities |
|
|
|
|
|
Revenue Split2 |
1,096 |
636 |
14,873 |
4,041 |
5,705 |
Cash Collateral Management Fees3 |
4,060 |
2,948 |
8,463 |
1,288 |
2,854 |
Administrative Fees |
— |
— |
— |
— |
— |
Indemnification Fees |
— |
— |
— |
— |
— |
Rebates to Borrowers |
14,219 |
12,943 |
73,538 |
458 |
6,060 |
Others Fees |
— |
— |
— |
— |
— |
Aggregate Fees/Compensation for Securities Lending Activities |
19,375 |
16,527 |
96,874 |
5,787 |
14,619 |
|
Diversified Return U.S. Equity ETF |
Diversified Return U.S. Mid Cap Equity ETF |
Diversified Return U.S. Small Cap Equity ETF |
U.S. Momentum Factor ETF |
U.S. Quality Factor ETF |
Net Income from the Securities Lending Activities |
$14,230 |
$8,520 |
$176,868 |
$48,771 |
$73,071 |
|
U.S. Value Factor ETF |
Gross Income from Securities Lending Activities1 |
$32,526 |
Fees and/or Compensation for Securities Lending Activities |
|
Revenue Split2 |
631 |
Cash Collateral Management Fees3 |
3,604 |
Administrative Fees |
— |
Indemnification Fees |
— |
Rebates to Borrowers |
19,739 |
Others Fees |
— |
Aggregate Fees/Compensation for Securities Lending Activities |
23,974 |
Net Income from the Securities Lending Activities |
8,551 |
|
Fiscal Year Ended | ||
Fund |
October 31, 2020 |
October 31, 2021 |
October 31, 2022 |
BetaBuilders Canada ETF | |||
Total Brokerage Commissions |
$63,112 |
$50,162 |
$148,332 |
Brokerage Commissions to Affiliated Broker/Dealers |
— |
— |
— |
BetaBuilders Developed Asia Pacific ex-Japan ETF | |||
Total Brokerage Commissions |
60,034 |
186,094 |
299,749 |
Brokerage Commissions to Affiliated Broker/Dealers |
— |
— |
— |
BetaBuilders Europe ETF | |||
Total Brokerage Commissions |
107,217 |
147,901 |
149,460 |
Brokerage Commissions to Affiliated Broker/Dealers |
— |
— |
— |
BetaBuilders International Equity ETF | |||
Total Brokerage Commissions |
38,542 |
65,830 |
64,453 |
Brokerage Commissions to Affiliated Broker/Dealers |
— |
— |
— |
BetaBuilders Japan ETF | |||
Total Brokerage Commissions |
106,577 |
144,898 |
169,898 |
Brokerage Commissions to Affiliated Broker/Dealers |
— |
— |
— |
BetaBuilders U.S. Equity ETF | |||
Total Brokerage Commissions |
1,173 |
3,945 |
3,641 |
Brokerage Commissions to Affiliated Broker/Dealers |
— |
— |
— |
BetaBuilders U.S. Mid Cap Equity ETF1 | |||
Total Brokerage Commissions |
2,438 |
80,028 |
115,094 |
Brokerage Commissions to Affiliated Broker/Dealers |
— |
— |
— |
|
Fiscal Year Ended | ||
Fund |
October 31, 2020 |
October 31, 2021 |
October 31, 2022 |
BetaBuilders U.S. Small Cap Equity ETF2 | |||
Total Brokerage Commissions |
N/A |
$24,156 |
$67,475 |
Brokerage Commissions to Affiliated Broker/Dealers |
N/A |
— |
— |
Carbon Transition U.S. Equity ETF3 | |||
Total Brokerage Commissions |
N/A |
1,723 |
823 |
Brokerage Commissions to Affiliated Broker/Dealers |
N/A |
— |
— |
Emerging Markets Equity ETF | |||
Total Brokerage Commissions |
$110,996 |
87,756 |
76,075 |
Brokerage Commissions to Affiliated Broker/Dealers |
— |
— |
— |
International Equity ETF | |||
Total Brokerage Commissions |
110,691 |
99,641 |
77,479 |
Brokerage Commissions to Affiliated Broker/Dealers |
— |
— |
— |
U.S. Equity ETF | |||
Total Brokerage Commissions |
41,811 |
32,114 |
30,969 |
Brokerage Commissions to Affiliated Broker/Dealers |
— |
— |
— |
U.S. Mid Cap Equity ETF | |||
Total Brokerage Commissions |
19,602 |
18,261 |
13,246 |
Brokerage Commissions to Affiliated Broker/Dealers |
— |
— |
— |
U.S. Momentum Factor ETF | |||
Total Brokerage Commissions |
5,143 |
9,647 |
15,927 |
Brokerage Commissions to Affiliated Broker/Dealers |
— |
— |
— |
U.S. Quality Factor ETF | |||
Total Brokerage Commissions |
8,604 |
12,120 |
18,087 |
Brokerage Commissions to Affiliated Broker/Dealers |
— |
— |
— |
U.S. Small Cap Equity ETF | |||
Total Brokerage Commissions |
27,886 |
24,055 |
27,013 |
Brokerage Commissions to Affiliated Broker/Dealers |
— |
— |
— |
U.S. Value Factor ETF | |||
Total Brokerage Commissions |
4,829 |
48,031 |
32,214 |
Brokerage Commissions to Affiliated Broker/Dealers |
— |
— |
— |
Fund |
Name of Broker-Dealer |
Value of Securities Owned |
BetaBuilders Developed Asia Pacific ex-Japan ETF |
Macquarie Group Limited |
$84,183,963 |
BetaBuilders Europe ETF |
BNP Paribas SA |
21,774,348 |
|
Credit Suisse Group AG |
4,265,412 |
|
Societe Generale SA |
7,412,495 |
|
UBS Group AG |
22,848,609 |
|
UniCredit SpA |
10,254,156 |
BetaBuilders International Equity ETF |
Crédit Agricole Group |
2,473,607 |
|
Credit Suisse Group AG |
2,090,668 |
|
Societe Generale SA |
3,629,511 |
|
UBS Group AG |
11,187,523 |
Fund |
Name of Broker-Dealer |
Value of Securities Owned |
BetaBuilders U.S. Equity ETF |
BofA Securities, Inc. |
$9,386,186 |
|
Citigroup, Inc. |
3,308,707 |
|
Goldman Sachs Group, Inc. (The) |
4,385,268 |
|
Jefferies |
238,565 |
|
JPMorgan Chase & Co. |
13,752,768 |
|
Morgan Stanley |
4,100,283 |
|
Wells Fargo & Co. |
6,498,663 |
BetaBuilders U.S. Small Cap Equity ETF |
Virtu Financial |
801,473 |
Carbon Transition U.S. Equity ETF |
BofA Securities, Inc. |
211,266 |
|
Citigroup, Inc. |
102,818 |
|
Goldman Sachs Group, Inc. (The) |
130,225 |
|
Morgan Stanley |
103,123 |
Emerging Markets Equity ETF |
CITIC Group |
1,000,563 |
U.S. Equity ETF |
BofA Securities, Inc. |
1,440,735 |
|
Raymond James Financial, Inc. |
831,587 |
|
Virtu Financial |
1,203,194 |
U.S. Mid Cap Equity ETF |
Raymond James Financial, Inc. |
712,739 |
|
Virtu Financial |
601,709 |
U.S. Momentum Factor ETF |
Morgan Stanley |
1,604,287 |
U.S. Quality Factor ETF |
Virtu Financial |
636,577 |
U.S. Small Cap Equity ETF |
Royal Bank of Canada |
918,539 |
U.S. Value Factor ETF |
Citigroup, Inc. |
2,780,629 |
|
Capital Loss Carryforward Character | |
Fund |
Short-Term |
Long-Term |
BetaBuilders Canada ETF |
$54,415,002 |
$121,890,580 |
BetaBuilders Developed Asia Pacific ex-Japan ETF |
95,275,844 |
79,088,224 |
BetaBuilders Europe ETF |
111,282,137 |
131,656,046 |
BetaBuilders International Equity ETF |
25,948,932 |
27,223,413 |
BetaBuilders Japan ETF |
79,312,027 |
161,069,212 |
BetaBuilders U.S. Equity ETF |
15,995,378 |
2,066,163 |
BetaBuilders U.S. Mid Cap Equity ETF |
120,310,069 |
33,547,688 |
BetaBuilders U.S. Small Cap Equity ETF |
35,062,221 |
8,267,275 |
Carbon Transition U.S. Equity ETF |
1,099,727 |
309,681 |
Emerging Markets Equity ETF |
26,014,239 |
5,149,424 |
International Equity ETF |
50,182,642 |
78,717,829 |
U.S. Equity ETF |
27,942,518 |
8,461,656 |
U.S. Mid Cap Equity ETF |
12,737,239 |
1,060,104 |
U.S. Momentum Factor ETF |
22,566,377 |
2,302,894 |
U.S. Quality Factor ETF |
26,963,158 |
8,019,573 |
U.S. Small Cap Equity ETF |
15,236,353 |
5,259,486 |
U.S. Value Factor ETF |
44,202,604 |
8,769,787 |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
JPMORGAN BETABUILDERS CANADA ETF | ||
|
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION* 383 MADISON AVENUE NEW YORK, NY 10017 |
51.14% |
|
|
|
|
J.P. MORGAN SECURITIES LLC* 383 MADISON AVENUE NEW YORK, NY 10017 |
30.65% |
|
|
|
|
STATE STREET BANK AND TRUST COMPANY 1 LINCOLN ST BOSTON, MA 02111 |
9.45% |
JPMORGAN BETABUILDERS DEVELOPED ASIA PACIFIC EX-JAPAN ETF | ||
|
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION* 383 MADISON AVENUE NEW YORK, NY 10017 |
53.52% |
|
|
|
|
J.P. MORGAN SECURITIES LLC* 383 MADISON AVENUE NEW YORK, NY 10017 |
30.59% |
|
|
|
|
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED 1 BRYANT PARK NEW YORK, NY 10036 |
8.82% |
JPMORGAN BETABUILDERS EUROPE ETF | ||
|
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION* 383 MADISON AVENUE NEW YORK, NY 10017 |
50.92% |
|
|
|
|
J.P. MORGAN SECURITIES LLC* 383 MADISON AVENUE NEW YORK, NY 10017 |
45.15% |
JPMORGAN BETABUILDERS INTERNATIONAL EQUITY ETF | ||
|
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION* 383 MADISON AVENUE NEW YORK, NY 10017 |
81.21% |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
|
|
|
|
J.P. MORGAN SECURITIES LLC* 383 MADISON AVENUE NEW YORK, NY 10017 |
6.82% |
JPMORGAN BETABUILDERS JAPAN ETF | ||
|
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION* 383 MADISON AVENUE NEW YORK, NY 10017 |
49.57% |
|
|
|
|
J.P. MORGAN SECURITIES LLC* 383 MADISON AVENUE NEW YORK, NY 10017 |
30.77% |
JPMORGAN BETABUILDERS U.S. EQUITY ETF | ||
|
J.P. MORGAN SECURITIES LLC* 383 MADISON AVENUE NEW YORK, NY 10017 |
36.71% |
|
|
|
|
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION* 383 MADISON AVENUE NEW YORK, NY 10017 |
28.64% |
|
|
|
|
ASSETMARK, INC. 1655 GRANT STREET, 10TH FLOOR CONCORD, CA 94520 |
5.23% |
JPMORGAN BETABUILDERS U.S. MID CAP EQUITY ETF | ||
|
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION* 383 MADISON AVENUE NEW YORK, NY 10017 |
98.04% |
JPMORGAN BETABUILDERS U.S. SMALL CAP EQUITY ETF | ||
|
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION* 383 MADISON AVENUE NEW YORK, NY 10017 |
98.84% |
JPMORGAN CARBON TRANSITION U.S. EQUITY ETF | ||
|
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION* 383 MADISON AVENUE NEW YORK, NY 10017 |
76.20% |
|
|
|
|
CHARLES SCHWAB RETAIL 211 MAIN ST. SAN FRANCISCO, CA 94105 |
8.25% |
JPMORGAN DIVERSIFIED RETURN EMERGING MARKETS EQUITY ETF | ||
|
FIDELITY BROKERAGE SERVICES LLC 245 SUMMER STREET BOSTON, MA 02210 |
16.28% |
|
|
|
|
CHARLES SCHWAB RETAIL 211 MAIN ST. SAN FRANCISCO, CA 94105 |
7.39% |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
|
|
|
|
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED 1 BRYANT PARK NEW YORK, NY 10036 |
6.20% |
|
|
|
|
ROOSEVELT INVESTMENTS 570 LEXINGTON AVE SUITE 180 NEW YORK, NY 10022 |
5.11% |
JPMORGAN DIVERSIFIED RETURN INTERNATIONAL EQUITY ETF | ||
|
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 505 NORTH HIGHWAY 169, SUITE 900 PLYMOUTH, MN 55441 |
21.03% |
|
|
|
|
CHARLES SCHWAB RETAIL 211 MAIN ST. SAN FRANCISCO, CA 94105 |
20.37% |
|
|
|
|
FIDELITY BROKERAGE SERVICES LLC 245 SUMMER STREET BOSTON, MA 02210 |
11.64% |
|
|
|
|
UBS FINANCIAL SERVICES INC. 1285 6TH AVE NEW YORK, NY 10019 |
5.41% |
JPMORGAN DIVERSIFIED RETURN U.S. EQUITY ETF | ||
|
ST. GERMAIN SECURITIES, INC. 1500 MAIN ST. SPRINGFIELD, MA 01105 |
12.93% |
|
|
|
|
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED 1 BRYANT PARK NEW YORK, NY 10036 |
10.15% |
|
|
|
|
PLANNING ALTERNATIVES LTD 36800 WOODWARD AVE #200 BLOOMFIELD HILLS, MI 48304 |
6.93% |
|
|
|
|
UBS FINANCIAL SERVICES INC. 1285 6TH AVE NEW YORK, NY 10019 |
6.91% |
|
|
|
|
CHARLES SCHWAB RETAIL 211 MAIN ST. SAN FRANCISCO, CA 94105 |
6.86% |
|
|
|
|
FIDELITY BROKERAGE SERVICES LLC 245 SUMMER STREET BOSTON, MA 02210 |
5.84% |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
JPMORGAN DIVERSIFIED RETURN U.S. MID CAP EQUITY ETF | ||
|
ARGI INVESTMENT SERVICES, LLC 2201 HIGH WICKHAM PL LOUISVILLE, KY, 40245 |
19.05% |
|
|
|
|
CHARLES SCHWAB RETAIL 211 MAIN ST. SAN FRANCISCO, CA 94105 |
7.06% |
|
|
|
|
CREATIVEONE WEALTH, LLC 6330 SPRINT PKWY SUITE 400 OVERLAND PARK, KS 66211 |
6.64% |
|
|
|
|
LPL FINANCIAL LLC 4707 EXECUTIVE DRIVE SAN DIEGO, CA 92121 |
6.56% |
|
|
|
|
UMB BANK, NATIONAL ASSOCIATION 1010 GRAND BOULEVARD KANSAS CITY, MO 64106 |
6.33% |
JPMORGAN DIVERSIFIED RETURN U.S. SMALL CAP EQUITY ETF | ||
|
KOSS-OLINGER CONSULTING, LLC. 2700 NW 43RD ST GAINESVILLE, FL 32606 |
9.37% |
|
|
|
|
RAYMOND JAMES FINANCIAL SERVICES, INC. 880 CARILLON PARKWAY ST. PETERSBURG, FL 33716 |
8.95% |
|
|
|
|
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED 1 BRYANT PARK NEW YORK, NY 10036 |
7.13% |
|
|
|
|
CHARLES SCHWAB RETAIL 211 MAIN ST. SAN FRANCISCO, CA 94105 |
6.68% |
|
|
|
|
LPL FINANCIAL LLC 4707 EXECUTIVE DRIVE SAN DIEGO, CA 92121 |
6.47% |
JPMORGAN U.S. MOMENTUM FACTOR ETF | ||
|
RONALD BLUE TRUST 1125 SANCTUARY PARKWAY, SUITE 500 ALPHARETTA, GA 30009 |
47.42% |
|
|
|
|
SGH WEALTH MANAGEMENT 17500 W ELEVEN MILE RD LATHRUP VILLAGE, MI 48076 |
14.13% |
|
|
|
|
CHARLES SCHWAB RETAIL 211 MAIN ST. SAN FRANCISCO, CA 94105 |
5.81% |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
JPMORGAN U.S. QUALITY FACTOR ETF | ||
|
FIRST-CITIZENS BANK & TRUST COMPANY 239 FAYETTEVILLE ST RALEIGH, NC 27601 |
27.02% |
|
|
|
|
FIDELITY BROKERAGE SERVICES LLC 245 SUMMER STREET BOSTON, MA 02210 |
8.44% |
|
|
|
|
CHARLES SCHWAB RETAIL 211 MAIN ST. SAN FRANCISCO, CA 94105 |
6.18% |
JPMORGAN U.S. VALUE FACTOR ETF | ||
|
FIRST-CITIZENS BANK & TRUST COMPANY 239 FAYETTEVILLE ST RALEIGH, NC 27601 |
34.74% |
Fund Name |
Ticker |
Listing Exchange |
JPMorgan Climate Change Solutions ETF (the “Climate Change Solutions ETF”) |
TEMP |
NYSE Arca |
JPMorgan Social Advancement ETF (the “Social Advancement ETF”) |
UPWD |
The Nasdaq Stock Market® LLC |
JPMorgan Sustainable Consumption ETF (the “Sustainable Consumption ETF”) |
CIRC |
The Nasdaq Stock Market® LLC |
JPMorgan Sustainable Infrastructure ETF (the “Sustainable Infrastructure ETF”) |
BLLD |
The Nasdaq Stock Market® LLC |
1 | |
1 | |
1 | |
1 | |
2 | |
3 | |
3 | |
4 | |
4 | |
4 | |
5 | |
5 | |
6 | |
7 | |
7 | |
8 | |
8 | |
8 | |
9 | |
9 | |
9 | |
9 | |
10 | |
10 | |
10 | |
10 | |
10 | |
10 | |
11 | |
11 | |
11 | |
11 | |
11 | |
11 | |
11 | |
11 | |
12 |
FUND NAME |
FUND CODE |
Climate Change Solutions ETF |
1 |
Social Advancement ETF |
2 |
Sustainable Consumption ETF |
3 |
Sustainable Infrastructure ETF |
4 |
Instrument |
Fund Code |
Part II Section Reference |
Common Stock: Shares of ownership of a company. |
1-4 |
Equity Securities, Warrants and Rights |
Common Stock Warrants and Rights: Securities, typically issued with preferred stock or bonds, that give the holder the right to buy a proportionate amount of common stock at a specified price. |
1-4 |
Equity Securities, Warrants and Rights |
Convertible Securities: Bonds or preferred stock that can convert to common stock. |
1-4 |
Convertible Securities |
Emerging Market Securities: Securities issued by issuers or governments in countries with emerging economies or securities markets which may be undergoing significant evolution and rapid development. |
1-4 |
Foreign Investments (including Foreign Currencies) |
Exchange-Traded Funds (“ETFs”): Ownership interest in unit investment trusts, depositary receipts, and other pooled investment vehicles that hold a portfolio of securities or stocks designed to track the price performance and dividend yield of a particular broad based, sector or international index. ETFs include a wide range of investments. |
1-4 |
Investment Company Securities and Exchange Traded Funds |
Foreign Investments: Equity and debt securities (e.g., bonds and commercial paper) of foreign entities and obligations of foreign branches of U.S. banks and foreign banks. Foreign securities may also include American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”), European Depositary Receipts (“EDRs”) and American Depositary Securities (“ADSs”). |
1-4 |
Foreign Investments (including Foreign Currencies) |
Futures Transactions: A Fund may purchase and sell futures contracts on securities and indexes of securities. |
1-4 |
Futures Transactions |
Initial Public Offering (“IPOs”): A transaction in which a previously private company makes its first sale of stock to the public. |
1-4 |
Equity Securities, Warrants and Rights |
Instrument |
Fund Code |
Part II Section Reference |
Interfund Lending: Involves lending money and borrowing money for temporary purposes through a credit facility. |
1-4 |
Miscellaneous Investment Strategies and Risks |
Master Limited Partnerships: Limited partnerships that are publicly traded on a securities exchange. |
1-4 |
Master Limited Partnerships |
Options and Futures Transactions: A Fund may purchase and sell (a) exchange traded and over-the-counter put and call options on securities, indexes of securities and futures contracts on securities and indexes of securities and (b) futures contracts on securities and indexes of securities. |
1-4 |
Options and Futures Transactions |
Preferred Stock: A class of stock that generally pays a dividend at a specified rate and has preference over common stock in the payment of dividends and in liquidation. |
1-4 |
Equity Securities, Warrants and Rights |
Real Estate Investment Trusts (“REITs”): Pooled investment vehicles which invest primarily in income producing real estate or real estate related loans or interest. |
1-4 |
Real Estate Investment Trusts |
Securities Lending: The lending of up to 33 1∕3% of a Fund’s total assets. In return a Fund will receive cash as collateral. |
1-4 |
Securities Lending |
Temporary Defensive Positions: To respond to unusual circumstances a Fund may invest a portion of its total assets in cash and cash equivalents for temporary defensive purposes. |
1-4 |
Miscellaneous Investment Strategies and Risks |
|
Fiscal Year Ended October 31, | |
Fund |
2021 |
2022 |
Climate Change Solutions ETF1 |
N/A |
32% |
Social Advancement ETF2 |
N/A |
6% |
Sustainable Consumption ETF2 |
N/A |
1% |
Sustainable Infrastructure ETF2 |
N/A |
0% |
Committee |
Fiscal Year Ended October 31, 2022 |
Audit and Valuation Committee |
4 |
Compliance Committee* |
4 |
Governance and Nominating Committee** |
1 |
Governance Committee* |
3 |
Equity Committee* |
4 |
ETF Committee* |
3 |
Fixed Income Committee* |
3 |
Money Market and Alternative Products Committee* |
5 |
Oversight Committee for Insurance and Performance Reports** |
0 |
Name of Trustee |
Dollar Range of Equity Securities in Climate Change Solutions ETF |
Dollar Range of Equity Securities in Social Advancement ETF |
Dollar Range of Equity Securities in Sustainable Consumption ETF |
Dollar Range of Equity Securities in Sustainable Infrastructure ETF |
Aggregate Dollar Range of Equity Securities in All Registered Investment Companies Overseen by the Trustee in Family of Investment Companies1,2 |
Independent Trustees |
|
|
|
|
|
John F. Finn |
None |
None |
None |
None |
Over $100,000 |
Stephen P. Fisher |
None |
None |
None |
None |
Over $100,000 |
Gary L. French |
None |
None |
None |
None |
Over $100,000 |
Kathleen M. Gallagher |
None |
None |
None |
None |
Over $100,000 |
Robert J. Grassi |
None |
None |
None |
None |
Over $100,000 |
Frankie D. Hughes |
None |
None |
None |
None |
Over $100,000 |
Raymond Kanner |
None |
None |
None |
None |
Over $100,000 |
Thomas P. Lemke |
None |
None |
None |
None |
Over $100,000 |
Lawrence R. Maffia |
None |
None |
None |
None |
Over $100,000 |
Name of Trustee |
Dollar Range of Equity Securities in Climate Change Solutions ETF |
Dollar Range of Equity Securities in Social Advancement ETF |
Dollar Range of Equity Securities in Sustainable Consumption ETF |
Dollar Range of Equity Securities in Sustainable Infrastructure ETF |
Aggregate Dollar Range of Equity Securities in All Registered Investment Companies Overseen by the Trustee in Family of Investment Companies1,2 |
Mary E. Martinez |
None |
None |
None |
None |
Over $100,000 |
Marilyn McCoy |
None |
None |
None |
None |
Over $100,000 |
Dr. Robert A. Oden, Jr. |
None |
None |
None |
None |
Over $100,000 |
Marian U. Pardo |
None |
None |
None |
None |
Over $100,000 |
Emily A. Youssouf |
None |
None |
None |
None |
Over $100,000 |
Interested Trustees |
|
|
|
|
|
Robert Deutsch |
None |
None |
None |
None |
Over $100,000 |
Nina O. Shenker |
None |
None |
None |
None |
Over $100,000 |
Name of Trustee |
Climate Change Solutions ETF |
Social Advancement ETF |
Sustainable Consumption ETF |
Sustainable Infrastructure ETF |
Total Compensation Paid From Fund Complex1 |
Independent Trustees |
|
|
|
|
|
John F. Finn |
$1,570 |
$392 |
$392 |
$392 |
$620,000 |
Stephen P. Fisher |
1,567 |
391 |
391 |
391 |
445,000 |
Gary L. French |
1,566 |
391 |
391 |
391 |
395,0002 |
Kathleen M. Gallagher |
1,567 |
391 |
391 |
391 |
445,0003 |
Robert J. Grassi |
1,566 |
391 |
391 |
391 |
395,000 |
Frankie D. Hughes |
1,566 |
391 |
391 |
391 |
395,000 |
Raymond Kanner |
1,567 |
391 |
391 |
391 |
445,0004 |
Thomas P. Lemke |
1,566 |
391 |
391 |
391 |
395,0005 |
Lawrence R. Maffia |
1,566 |
391 |
391 |
391 |
395,000 |
Mary E. Martinez |
1,568 |
391 |
391 |
391 |
520,000 |
Marilyn McCoy |
1,566 |
391 |
391 |
391 |
395,0006 |
Dr. Robert A. Oden, Jr. |
1,567 |
391 |
391 |
391 |
445,000 |
Marian U. Pardo |
1,567 |
391 |
391 |
391 |
445,000 |
Emily A. Youssouf |
1,566 |
391 |
391 |
391 |
395,0007 |
Interested Trustees |
|
|
|
|
|
Robert Deutsch |
1,567 |
391 |
391 |
391 |
445,0008 |
Nina O. Shenker |
1,566 |
391 |
391 |
391 |
395,0006 |
|
Fiscal Year Ended | ||
Fund |
October 31, 2020 |
October 31, 2021 |
October 31, 2022 |
Climate Change Solutions ETF1 |
N/A |
N/A |
$91,152 |
Social Advancement ETF2 |
N/A |
N/A |
6,900 |
Sustainable Consumption ETF2 |
N/A |
N/A |
6,986 |
Sustainable Infrastructure ETF2 |
N/A |
N/A |
6,540 |
|
Non-Performance Based Fee Advisory Accounts | |||||
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | ||||
Number of Accounts |
Total Assets ($ thousands) |
Number of Accounts |
Total Assets ($ thousands) |
Number of Accounts |
Total Assets ($ thousands) | |
Climate Change Solutions ETF | ||||||
Yazann Romahi |
10 |
$3,208,965 |
12 |
$2,800,318 |
6 |
$394,474 |
Francesco Conte |
0 |
0 |
9 |
2,229,533 |
3 |
1,220,283 |
Sara Bellenda |
3 |
279,168 |
12 |
1,411,331 |
0 |
0 |
Social Advancement ETF | ||||||
Rajesh Tanna |
3 |
6,056 |
5 |
5,420,953 |
6 |
2,338,230 |
Jennifer Rabowsky |
0 |
0 |
1 |
9,821 |
0 |
0 |
Bilquis Ahmed |
0 |
0 |
1 |
9,821 |
0 |
0 |
Sustainable Consumption ETF | ||||||
Sandeep Bhargava |
1 |
292,535 |
2 |
10,111 |
2 |
949,818 |
Aijaz Hussain |
6 |
1,567,398 |
14 |
2,029,181 |
3 |
33,138 |
Polina Diyachkina |
0 |
0 |
1 |
10,105 |
0 |
0 |
Sustainable Infrastructure ETF | ||||||
Sara Bellenda |
3 |
289,059 |
12 |
1,411,331 |
0 |
0 |
Wei (Victor) Li |
1 |
671,335 |
6 |
1,328,164 |
5 |
182,490 |
Fred Barasi |
0 |
0 |
1 |
65,624 |
0 |
0 |
|
Performance Based Fee Advisory Accounts | |||||
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | ||||
Number of Accounts |
Total Assets ($ thousands) |
Number of Accounts |
Total Assets ($ thousands) |
Number of Accounts |
Total Assets ($ thousands) | |
Climate Change Solutions ETF | ||||||
Yazann Romahi |
0 |
$0 |
0 |
$0 |
1 |
$426,517 |
Francesco Conte |
0 |
0 |
0 |
0 |
1 |
177,997 |
Sara Bellenda |
0 |
0 |
0 |
0 |
0 |
0 |
Social Advancement ETF | ||||||
Rajesh Tanna |
0 |
0 |
0 |
0 |
1 |
99,009 |
Jennifer Rabowsky |
0 |
0 |
0 |
0 |
0 |
0 |
Bilquis Ahmed |
0 |
0 |
0 |
0 |
0 |
0 |
Sustainable Consumption ETF | ||||||
Sandeep Bhargava |
0 |
0 |
0 |
0 |
0 |
0 |
Aijaz Hussain |
0 |
0 |
0 |
0 |
0 |
0 |
Polina Diyachkina |
0 |
0 |
0 |
0 |
0 |
0 |
Sustainable Infrastructure ETF | ||||||
Sara Bellenda |
0 |
0 |
0 |
0 |
0 |
0 |
Wei (Victor) Li |
0 |
0 |
0 |
0 |
1 |
426,517 |
Fred Barasi |
0 |
0 |
0 |
0 |
0 |
0 |
Fund |
Aggregate Dollar Range of Securities in the Fund | ||||||
None |
$1- $10,000 |
$10,001- $50,000 |
$50,001- $100,000 |
$100,001- $500,000 |
$500,001- $1,000,000 |
Over $1,000,000 | |
Climate Change Solutions ETF | |||||||
Yazann Romahi |
X |
|
|
|
|
|
|
Francesco Conte |
X |
|
|
|
|
|
|
Sara Bellenda |
X |
|
|
|
|
|
|
Social Advancement ETF | |||||||
Rajesh Tanna |
X |
|
|
|
|
|
|
Jennifer Rabowsky |
X |
|
|
|
|
|
|
Bilquis Ahmed |
X |
|
|
|
|
|
|
Sustainable Consumption ETF | |||||||
Sandeep Bhargava |
X |
|
|
|
|
|
|
Aijaz Hussain |
X |
|
|
|
|
|
|
Polina Diyachkina |
X |
|
|
|
|
|
|
Sustainable Infrastructure ETF | |||||||
Sara Bellenda |
X |
|
|
|
|
|
|
Wei (Victor) Li |
X |
|
|
|
|
|
|
Fred Barasi |
X |
|
|
|
|
|
|
Name of Fund |
Benchmark |
Climate Change Solutions ETF |
MSCI All Country World Index |
Social Advancement ETF |
MSCI All Country World Index |
Sustainable Consumption ETF |
MSCI All Country World Index |
Sustainable Infrastructure ETF |
MSCI All Country World Index |
|
Fiscal Year Ended | ||
Fund |
October 31, 2020 |
October 31, 2021 |
October 31, 2022 |
Climate Change Solutions ETF1 |
N/A |
N/A |
$20,262 |
Social Advancement ETF2 |
N/A |
N/A |
3,375 |
Sustainable Consumption ETF2 |
N/A |
N/A |
3,375 |
Sustainable Infrastructure ETF2 |
N/A |
N/A |
3,375 |
|
Fiscal Year Ended | ||
Fund |
October 31, 2020 |
October 31, 2021 |
October 31, 2022 |
Climate Change Solutions ETF1 | |||
Total Brokerage Commissions |
N/A |
N/A |
$8,455 |
Brokerage Commissions to Affiliated Broker/Dealers |
N/A |
N/A |
— |
Social Advancement ETF2 | |||
Total Brokerage Commissions |
N/A |
N/A |
949 |
Brokerage Commissions to Affiliated Broker/Dealers |
N/A |
N/A |
— |
Sustainable Consumption ETF2 | |||
Total Brokerage Commissions |
N/A |
N/A |
888 |
Brokerage Commissions to Affiliated Broker/Dealers |
N/A |
N/A |
— |
Sustainable Infrastructure ETF2 | |||
Total Brokerage Commissions |
N/A |
N/A |
887 |
Brokerage Commissions to Affiliated Broker/Dealers |
N/A |
N/A |
— |
|
Capital Loss Carryforward Character | |
Fund |
Short-Term |
Long-Term |
Climate Change Solutions ETF |
$3,132,707 |
$— |
Social Advancement ETF |
62,027 |
— |
Sustainable Consumption ETF |
5,164 |
— |
Name of Fund |
Name and Address of Shareholder |
Percentage Held |
JPMORGAN CLIMATE CHANGE SOLUTIONS ETF | ||
|
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION* 383 MADISON AVENUE NEW YORK, NY 10017 |
83.80% |
JPMORGAN SOCIAL ADVANCEMENT ETF | ||
|
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION* 383 MADISON AVENUE NEW YORK, NY 10017 |
88.89% |
|
|
|
|
BOFA SECURITIES, INC. 1 BRYANT PARK NEW YORK, NY 10036 |
9.90% |
JPMORGAN SUSTAINABLE CONSUMPTION ETF | ||
|
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION* 383 MADISON AVENUE NEW YORK, NY 10017 |
88.93% |
|
|
|
|
BOFA SECURITIES, INC. 1 BRYANT PARK NEW YORK, NY 10036 |
10.94% |
JPMORGAN SUSTAINABLE INFRASTRUCTURE ETF | ||
|
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION* 383 MADISON AVENUE NEW YORK, NY 10017 |
88.93% |
|
|
|
|
BOFA SECURITIES, INC. 1 BRYANT PARK NEW YORK, NY 10036 |
9.73% |
1 | |
1 | |
2 | |
3 | |
3 | |
4 | |
5 | |
5 | |
9 | |
9 | |
9 | |
10 | |
19 | |
19 | |
20 | |
24 | |
31 | |
40 | |
43 | |
47 | |
48 | |
49 | |
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51 | |
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54 | |
56 | |
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62 | |
63 | |
72 | |
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101 | |
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107 | |
111 | |
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117 | |
120 | |
120 | |
120 | |
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122 | |
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122 | |
123 | |
124 | |
125 | |
125 | |
131 | |
A-1 | |
B-1 | |
C-1 | |
D-1 |
Name (Year of Birth; Term of Office, and Length of Time Served)(1) |
Principal Occupation(s) During Past 5 Years (or longer) |
Number of Funds in Fund Complex Overseen by Trustee(2) |
Other Trusteeships/ Directorships Held During the Past 5 Years (or longer)(3) |
Independent Trustees |
|
|
|
John F. Finn (1947); Chair, since 2020; Trustee, since 1998. |
Chairman, Gardner, Inc. (supply chain management company serving industrial and consumer markets) (serving in various roles 1974–present). |
178 |
Director, Greif, Inc. (GEF) (industrial package products and services) (2007–present); Trustee, Columbus Association for the Performing Arts (1988- present). |
Stephen P. Fisher (1959); Trustee, since 2018. |
Retired; Chairman and Chief Executive Officer, NYLIFE Distributors LLC (registered broker- dealer) (serving in various roles 2008- 2013); Chairman, NYLIM Service Company LLC (transfer agent) (2008- 2017); New York Life Investment Management LLC (registered investment adviser) (serving in various roles 2005- 2017); Chairman, IndexIQ Advisors LLC (registered investment adviser for ETFs) (2014-2017); President, MainStay VP Funds Trust (2007-2017), MainStay DefinedTerm Municipal Opportunities Fund (2011-2017) and Main- Stay Funds Trust (2007-2017) (registered investment companies). |
178 |
Honors Program Advisory Board Member, The Zicklin School of Business, Baruch College, The City University of New York (2017-present). |
Gary L. French (1951); Trustee, since 2014. |
Real Estate Investor (2011-2020); Investment management industry Consultant and Expert Witness (2011-present); Senior Consultant for The Regulatory Fundamentals Group LLC (2011-2017). |
178 |
Independent Trustee, The China Fund, Inc. (2013- 2019); Exchange Traded Concepts Trust II (2012- 2014); Exchange Traded Concepts Trust I (2011- 2014). |
Name (Year of Birth; Term of Office, and Length of Time Served)(1) |
Principal Occupation(s) During Past 5 Years (or longer) |
Number of Funds in Fund Complex Overseen by Trustee(2) |
Other Trusteeships/ Directorships Held During the Past 5 Years (or longer)(3) |
Kathleen M. Gallagher (1958); Trustee, since 2018. |
Retired; Chief Investment Officer – Benefit Plans, Ford Motor Company (serving in various roles 1985-2016). |
178 |
Non-Executive Director, Legal & General Investment Management (Holdings) (2018- present); Non-Executive Director, Legal & General Investment Management America (U.S. Holdings) (financial services and insurance) (2017- present); Advisory Board Member, State Street Global Advisors Total Portfolio Solutions (2017-present); Member, Client Advisory Council, Financial Engines, LLC (registered investment adviser) (2011-2016); Director, Ford Pension Funds Investment Management Ltd. (2007- 2016). |
Robert J. Grassi (1957); Trustee, since 2014. |
Sole Proprietor, Academy Hills Advisors LLC (2012- present); Pension Director, Corning Incorporated (2002- 2012). |
178 |
None. |
Frankie D. Hughes (1952); Trustee, since 2008. |
President, Ashland Hughes Properties (property management) (2014–present); President and Chief Investment Officer, Hughes Capital Management, Inc. (fixed income asset management) (1993– 2014). |
178 |
None. |
Name (Year of Birth; Term of Office, and Length of Time Served)(1) |
Principal Occupation(s) During Past 5 Years (or longer) |
Number of Funds in Fund Complex Overseen by Trustee(2) |
Other Trusteeships/ Directorships Held During the Past 5 Years (or longer)(3) |
Raymond Kanner (1953); Trustee, since 2017. |
Retired; Managing Director and Chief Investment Officer, IBM Retirement Funds (2007–2016). |
178 |
Advisory Board Member, Penso Advisors, LLC (2020- present); Advisory Board Member, Los Angeles Capital (2018-present); Advisory Board Member, State Street Global Advisors Total Portfolio Solutions (2017-present); Acting Executive Director, Committee on Investment of Employee Benefit Assets (CIEBA) (2016-2017); Advisory Board Member, Betterment for Business (robo advisor) (2016– 2017); Advisory Board Member, BlueStar Indexes (index creator) (2013–2017); Director, Emerging Markets Growth Fund (registered investment company) (1997-2016); Member, Russell Index Client Advisory Board (2001- 2015). |
Thomas P. Lemke (1954); Trustee, since 2014. |
Retired since 2013. |
178 |
(1) Independent Trustee of Advisors’ Inner Circle III fund platform, consisting of the following: (i) the Advisors’ Inner Circle Fund III, (ii) the Gallery Trust, (iii) the Schroder Series Trust, (iv) the Delaware Wilshire Private Markets Fund (since 2020), (v) Chiron Capital Allocation Fund Ltd., and (vi) formerly the Winton Diversified Opportunities Fund (2014-2018); and (2) Independent Trustee of the Symmetry Panoramic Trust (since 2018). |
Lawrence R. Maffia (1950); Trustee, since 2014. |
Retired; Director and President, ICI Mutual Insurance Company (2006-2013). |
178 |
Director, ICI Mutual Insurance Company (1999-2013). |
Name (Year of Birth; Term of Office, and Length of Time Served)(1) |
Principal Occupation(s) During Past 5 Years (or longer) |
Number of Funds in Fund Complex Overseen by Trustee(2) |
Other Trusteeships/ Directorships Held During the Past 5 Years (or longer)(3) |
Mary E. Martinez (1960); Vice Chair, since 2021; Trustee, since 2013. |
Associate, Special Properties, a Christie’s International Real Estate Affiliate (2010– present); Managing Director, Bank of America (asset management) (2007– 2008); Chief Operating Officer, U.S. Trust Asset Management, U.S. Trust Company (asset management) (2003–2007); President, Excelsior Funds (registered investment companies) (2004–2005). |
178 |
None. |
Marilyn McCoy (1948); Trustee, since 1999. |
Vice President of Administration and Planning, Northwestern University (1985– present). |
178 |
None. |
Dr. Robert A. Oden, Jr. (1946); Trustee, since 1997. |
Retired; President, Carleton College (2002–2010); President, Kenyon College (1995–2002). |
178 |
Trustee, The Coldwater Conservation Fund; Trustee, American Museum of Fly Fishing (2013–present); Trustee and Vice Chair, Trout Unlimited (2017-2021); Trustee, Dartmouth- Hitchcock Medical Center (2011–2020). |
Marian U. Pardo (1946); Trustee, since 2013. |
Managing Director and Founder, Virtual Capital Management LLC (investment consulting) (2007– present); Managing Director, Credit Suisse Asset Management (portfolio manager) (2003–2006). |
178 |
Board Chair and Member, Board of Governors, Columbus Citizens Foundation (not-for-profit supporting philanthropic and cultural programs) (2006–present). |
Name (Year of Birth; Term of Office, and Length of Time Served)(1) |
Principal Occupation(s) During Past 5 Years (or longer) |
Number of Funds in Fund Complex Overseen by Trustee(2) |
Other Trusteeships/ Directorships Held During the Past 5 Years (or longer)(3) |
Emily A. Youssouf (1951); Trustee, since 2014. |
Adjunct Professor (2011-present) and Clinical Professor (2009-2011), NYU Schack Institute of Real Estate; Board Member and Member of the Audit Committee (2013-present), Chair of Finance Committee (2019-present), Member of Related Parties Committee (2013-2018) and Member of the Enterprise Risk Committee (2015- 2018), PennyMac Financial Services, Inc.; Board Member (2005-2018), Chair of Capital Committee (2006-2016), Chair of Audit Committee (2005-2018), Member of Finance Committee (2005-2018) and Chair of IT Committee (2016-2018), NYC Health and Hospitals Corporation. |
178 |
Trustee, NYC School Construction Authority (2009-present); Board Member, NYS Job Development Authority (2008-present); Trustee and Chair of the Audit Committee of the Transit Center Foundation (2015-2019). |
Interested Trustees |
|
|
|
Robert F. Deutsch(4) (1957); Trustee, since 2014. |
Retired; Head of ETF Business for JPMorgan Asset Management (2013-2017); Head of Global Liquidity Business for JPMorgan Asset Management (2003-2013). |
178 |
Treasurer and Director of the JUST Capital Foundation (2017- present). |
Nina O. Shenker(4) (1957); Trustee, since 2022. |
Vice Chair (2017- 2021), General Counsel and Managing Director (2008-2016), Associate General Counsel and Managing Director (2004-2008), J.P. Morgan Asset & Wealth Management. |
178 |
Director and Member of Legal and Human Resources Subcommittees, American Jewish Joint Distribution Committee (2018-present). |
Name of Committee |
Members |
Committee Chair |
Audit and Valuation Committee |
Ms. Gallagher Mr. Maffia Mr. French Mr. Kanner |
Ms. Gallagher |
Compliance Committee |
Ms. Pardo Mr. Fisher Ms. Hughes Mr. Lemke |
Ms. Pardo |
Governance Committee |
Mr. Finn Ms. Martinez Ms. McCoy Dr. Oden |
Mr. Finn |
ETF Committee |
Mr. Deutsch Mr. Finn Mr. Grassi Ms. Martinez Ms. Shenker Ms. Youssouf |
Mr. Deutsch |
Equity Committee |
Mr. Kanner Mr. French Mr. Maffia Ms. Pardo |
Mr. Kanner |
Fixed Income Committee |
Dr. Oden Mr. Grassi Ms. Hughes Ms. Martinez Ms. Shenker Ms. Youssouf |
Dr. Oden |
Money Market and Alternative Products Committee |
Mr. Fisher Mr. Deutsch Ms. Gallagher Mr. Lemke Ms. McCoy |
Mr. Fisher |
Name (Year of Birth), Positions Held with the Trust (Since) |
Principal Occupations During Past 5 Years |
Brian S. Shlissel (1964), President and Principal Executive Officer (2021)* |
Managing Director and Chief Administrative Officer for J.P. Morgan pooled vehicles, J.P. Morgan Investment Management Inc. since 2014. |
Timothy J. Clemens (1975), Treasurer and Principal Financial Officer (2020) |
Executive Director, J.P. Morgan Investment Management Inc. since February 2016. Mr. Clemens has been with J.P. Morgan Investment Management Inc. since 2013. |
Gregory S. Samuels (1980), Secretary (2022) (formerly Assistant Secretary 2014-2022) |
Managing Director and Assistant General Counsel, JPMorgan Chase. Mr. Samuels has been with JPMorgan Chase since 2010. |
Stephen M. Ungerman (1953), Chief Compliance Officer (2014) |
Managing Director, JPMorgan Chase & Co.; Mr. Ungerman has been with JPMorgan Chase & Co. since 2000. |
Kiesha Astwood-Smith (1973), Assistant Secretary (2021) |
Vice President and Assistant General Counsel, JPMorgan Chase since June 2021; Senior Director and Counsel, Equitable Financial Life Insurance Company (formerly, AXA Equitable Life Insurance Company) from September 2015 through June 2021. |
Matthew Beck (1988), Assistant Secretary (2021)** |
Vice President and Assistant General Counsel, JPMorgan Chase since May 2021; Senior Legal Counsel, Ultimus Fund Solutions from May 2018 through May 2021; General Counsel, The Nottingham Company from April 2014 through May 2018. |
Name (Year of Birth), Positions Held with the Trust (Since) |
Principal Occupations During Past 5 Years |
Elizabeth A. Davin (1964), Assistant Secretary (2022)** (formerly Secretary 2018-2022) |
Executive Director and Assistant General Counsel, JPMorgan Chase. Ms. Davin has been with JPMorgan Chase (formerly Bank One Corporation) since 2004. |
Jessica K. Ditullio (1962), Assistant Secretary (2014)** |
Executive Director and Assistant General Counsel, JPMorgan Chase. Ms. Ditullio has been with JPMorgan Chase (formerly Bank One Corporation) since 1990. |
Anthony Geron (1971), Assistant Secretary (2019) |
Vice President and Assistant General Counsel, JPMorgan Chase since September 2018; Lead Director and Counsel, AXA Equitable Life Insurance Company from 2015 to 2018 and Senior Director and Counsel, AXA Equitable Life Insurance Company from 2014 to 2015. |
Carmine Lekstutis (1980), Assistant Secretary (2014) |
Executive Director and Assistant General Counsel, JPMorgan Chase. Mr. Lekstutis has been with JPMorgan Chase since 2011. |
Max Vogel (1990), Assistant Secretary (2021) |
Vice President and Assistant General Counsel, JPMorgan Chase since June 2021; Associate, Proskauer Rose LLP (law firm) from March 2017 to June 2021. |
Zachary E. Vonnegut-Gabovitch (1986), Assistant Secretary (2017) |
Executive Director and Assistant General Counsel, JPMorgan Chase. Mr. Vonnegut-Gabovitch has been with JPMorgan Chase since September 2016. |
Frederick J. Cavaliere (1978), Assistant Treasurer (2015)* |
Executive Director, J.P. Morgan Investment Management Inc. Mr. Cavaliere has been with JPMorgan since May 2006. |
Michael M. D’Ambrosio (1969), Assistant Treasurer (2014) |
Managing Director, J.P. Morgan Investment Management Inc. Mr. D’Ambrosio has been with J.P. Morgan Investment Management Inc. since 2012. |
Shannon Gaines (1977), Assistant Treasurer (2019)** |
Executive Director, J.P. Morgan Investment Management Inc. Mr. Gaines has been with J.P. Morgan Investment Management Inc since January 2014. |
Nektarios E. Manolakakis (1972), Assistant Treasurer (2020) |
Executive Director, J.P. Morgan Investment Management Inc. since February 2021, formerly Vice President, J.P. Morgan Investment Management Inc. since 2014; Vice President, J.P. Morgan Corporate & Investment Bank 2010-2014. |
Todd McEwen (1981), Assistant Treasurer (2020)** |
Vice President, J.P. Morgan Investment Management Inc. Mr. McEwen has been with J.P. Morgan Investment Management Inc. since 2010. |
Tier One |
First $75 billion |
0.0025% |
Tier Two |
Next $25 billion |
0.0020% |
Tier Three |
Over $100 billion |
0.0015% |
|
|
|
Other Fees: |
|
|
Annual Base Fee (in addition to asset based fee) |
|
$20,000 per Fund |
Tier One |
Up to $50 billion |
0.0030% |
Tier Two |
Next $75 billion |
0.0025% |
Tier Three |
Over $125 billion |
0.0015% |
|
|
|
Other Fees: |
|
|
Minimum |
|
$22,500 per Fund per year |
Tier One |
Up to $15 billion |
0.0030% |
Tier Two |
Next $85 billion |
0.0025% |
Tier Three |
Over $100 billion |
0.0015% |
|
|
|
Other Fees: |
|
|
Minimum |
|
$20,000 per Fund per year |
7 | |
8 | |
8 | |
8 | |
9 | |
11 | |
12 | |
13 | |
17 | |
17 | |
17 | |
18 | |
18 | |
18 | |
18 | |
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76 | |
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76 | |
77 |
6 | |
7 | |
7 | |
12 | |
12 | |
12 | |
15 | |
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25 | |
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78 |
Join the Conversation | ||
Glass Lewis is committed to ongoing engagement with all market participants. | ||
info@glasslewis.com |
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www.glasslewis.com |
Corporate Website |
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www.glasslewis.com |
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Email |
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info@glasslewis.com |
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Social |
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@glasslewis |
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Glass, Lewis & Co. |
North America |
United States |
|
Headquarters |
|
255 California Street Suite 1100 San Francisco, CA 94111 +1 415 678 4110 +1 888 800 7001 |
|
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|
New York, NY +1 646 606 2345 |
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2323 Grand Boulevard Suite 1125 Kansas City, MO 64108 +1 816 945 4525 |
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Europe |
Ireland |
|
15 Henry Street Limerick V94 V9T4 +353 61 292 800 |
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United Kingdom |
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80 Coleman Street Suite 4.02 London EC2R 5BJ +44 20 7653 8800 |
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Germany |
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IVOX Glass Lewis |
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Kaiserallee 23a 76133 Karlsruhe +49 721 35 49 622 |
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Asia Pacific |
Australia |
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CGI Glass Lewis |
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Suite 5.03, Level 5 255 George Street Sydney NSW 2000 +61 2 9299 9266 |
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Japan |
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Shinjuku Mitsui Building 11th floor 2-1-1, Nishi-Shinjuku, Shinjuku-ku, Tokyo 163-0411, Japan |
A-1 |
A short-term obligation rated ‘A-1’ is rated in the highest category by S&P Global Ratings. The obligor’s capacity to meet its financial commitments on the obligation is strong. Within this category, certain obligations are designated with a plus sign (+). This indicates that the obligor’s capacity to meet its financial commitments on these obligations is extremely strong. |
A-2 |
A short-term obligation rated ‘A-2’ is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligations in higher rating categories. However, the obligor’s capacity to meet its financial commitments on the obligation is satisfactory. |
A-3 |
A short-term obligation rated ‘A-3’ exhibits adequate protection parameters. However, adverse economic conditions or changing circumstances are more likely to weaken an obligor’s capacity to meet its financial commitments on the obligation. |
B |
A short-term obligation rated ‘B' is regarded as vulnerable and has significant speculative characteristics. The obligor currently has the capacity to meet its financial commitments; however, it faces major ongoing uncertainties that could lead to the obligor's inadequate capacity to meet its financial commitments. |
C |
A short-term obligation rated ‘C’ is currently vulnerable to nonpayment and is dependent upon favorable business, financial, and economic conditions for the obligor to meet its financial commitments on the obligation. |
D |
A short-term obligation rated ‘D’ is in default or in breach of an imputed promise. For non-hybrid capital instruments, the ‘D’ rating category is used when payments on an obligation are not made on the date due, unless S&P Global Ratings believes that such payments will be made within any stated grace period. However, any stated grace period longer than five business days will be treated as five business days. The ‘D’ rating also will be used upon the filing of a bankruptcy petition or the taking of a similar action and where default on an obligation is a virtual certainty, for example due to automatic stay provisions. A rating on an obligation is lowered to ‘D’ if it is subject to a distressed debt restructuring. |
F1 |
HIGHEST SHORT-TERM CREDIT QUALITY. Indicates the strongest intrinsic capacity for timely payment of financial commitments; may have an added “+” to denote any exceptionally strong credit feature. |
F2 |
GOOD SHORT-TERM CREDIT QUALITY. Good intrinsic capacity for timely payment of financial commitments. |
F3 |
FAIR SHORT-TERM CREDIT QUALITY. The intrinsic capacity for timely payment of financial commitments is adequate. |
B |
SPECULATIVE SHORT-TERM CREDIT QUALITY. Minimal capacity for timely payment of financial commitments, plus heightened vulnerability to near term adverse changes in financial and economic conditions. |
C |
HIGH SHORT-TERM DEFAULT RISK. Default is a real possibility. |
RD |
RESTRICTED DEFAULT. Indicates an entity that has defaulted on one or more of its financial commitments, although it continues to meet other financial obligations. Typically applicable to entity ratings only. |
D |
DEFAULT. Indicates a broad-based default event for an entity, or the default of a short- term obligation. |
P-1 |
Ratings of Prime-1 reflect a superior ability to repay short-term debt obligations. |
P-2 |
Ratings of Prime-2 reflect a strong ability to repay short-term debt obligations. |
P-3 |
Ratings of Prime-3 reflect an acceptable ability to repay short-term obligations. |
NP |
Issuers (or supporting institutions) rated Not Prime do not fall within any of the Prime rating categories. |
R-1 (high) |
Highest credit quality. The capacity for the payment of short-term financial obligations as they fall due is exceptionally high. Unlikely to be adversely affected by future events. |
R-1 (middle) |
Superior credit quality. The capacity for the payment of short-term financial obligations as they fall due is very high. Differs from R-1 (high) by a relatively modest degree. Unlikely to be significantly vulnerable to future events. |
R-1 (low) |
Good credit quality. The capacity for the payment of short-term financial obligations as they fall due is substantial. Overall strength is not as favorable as higher rating categories. May be vulnerable to future events, but qualifying negative factors are considered manageable. |
R-2 (high) |
Upper end of adequate credit quality. The capacity for the payment of short-term financial obligations as they fall due is acceptable. May be vulnerable to future events. |
R-2 (middle) |
Adequate credit quality. The capacity for the payment of short-term financial obligations as they fall due is acceptable. May be vulnerable to future events or may be exposed to other factors that could reduce credit quality. |
R-2 (low) |
Lower end of adequate credit quality. The capacity for the payment of short-term financial obligations as they fall due is acceptable. May be vulnerable to future events. A number of challenges are present that could affect the issuer’s ability to meet such obligations. |
R-3 |
Lowest end of adequate credit quality. There is a capacity for the payment of short-term financial obligations as they fall due. May be vulnerable to future events and the certainty of meeting such obligations could be impacted by a variety of developments. |
R-4 |
Speculative credit quality. The capacity for the payment of short-term financial obligations as they fall due is uncertain. |
R-5 |
Highly speculative credit quality. There is a high level of uncertainty as to the capacity to meet short-term financial obligations as they fall due. |
D |
When the issuer has filed under any applicable bankruptcy, insolvency or winding up statute or there is a failure to satisfy an obligation after the exhaustion of grace periods, a downgrade to D may occur. DBRS Morningstar may also use SD (Selective Default) in cases where only some securities are impacted, such as the case of a “distressed exchange.” |
AAA |
An obligation rated ‘AAA’ has the highest rating assigned by S&P Global Ratings. The obligor’s capacity to meet its financial commitments on the obligation is extremely strong. |
AA |
An obligation rated ‘AA’ differs from the highest-rated obligations only to a small degree. The obligor’s capacity to meet its financial commitments on the obligation is very strong. |
A |
An obligation rated ‘A’ is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligations in higher-rated categories. However, the obligor’s capacity to meet its financial commitments on the obligation is still strong. |
BBB |
An obligation rated ‘BBB’ exhibits adequate protection parameters. However, adverse economic conditions or changing circumstances are more likely to weaken the obligor’s capacity to meet its financial commitments on the obligation. |
BB,B,CCC,CC and C |
Obligations rated ‘BB’, ‘B’, ‘CCC’, ‘CC’, and ‘C’ are regarded as having significant speculative characteristics. ‘BB’ indicates the least degree of speculation and ‘C’ the highest. While such obligations will likely have some quality and protective characteristics, these may be outweighed by large uncertainties or major exposure to adverse conditions. |
BB |
An obligation rated ‘BB’ is less vulnerable to nonpayment than other speculative issues. However, it faces major ongoing uncertainties or exposure to adverse business, financial, or economic conditions that could lead to the obligor’s inadequate capacity to meet its financial commitments on the obligation. |
B |
An obligation rated ‘B’ is more vulnerable to nonpayment than obligations rated ‘BB’, but the obligor currently has the capacity to meet its financial commitments on the obligation. Adverse business, financial, or economic conditions will likely impair the obligor’s capacity or willingness to meet its financial commitments on the obligation. |
CCC |
An obligation rated ‘CCC’ is currently vulnerable to nonpayment, and is dependent upon favorable business, financial, and economic conditions for the obligor to meet its financial commitments on the obligation. In the event of adverse business, financial, or economic conditions, the obligor is not likely to have the capacity to meet its financial commitments on the obligation. |
CC |
An obligation rated ‘CC’ is currently highly vulnerable to nonpayment. The ‘CC’ rating is used when a default has not yet occurred but S&P Global Ratings expects default to be a virtual certainty, regardless of the anticipated time to default. |
C |
An obligation rated ‘C’ is currently highly vulnerable to nonpayment, and the obligation is expected to have lower relative seniority or lower ultimate recovery compared with obligations that are rated higher. |
D |
An obligation rated ‘D’ is in default or in breach of an imputed promise. For non-hybrid capital instruments, the ‘D’ rating category is used when payments on an obligation are not made on the date due, unless S&P Global Ratings believes that such payments will be made within five business days in the absence of a stated grace period or within the earlier of the stated grace period or 30 calendar days. The ‘D’ rating also will be used upon the filing of a bankruptcy petition or the taking of similar action and where default on an obligation is a virtual certainty, for example due to automatic stay provisions. A rating on an obligation is lowered to ‘D’ if it is subject to a distressed debt restructuring. |
AAA |
HIGHEST CREDIT QUALITY. ‘AAA’ ratings denote the lowest expectation of default risk. They are assigned only in cases of exceptionally strong capacity for payment of financial commitments. This capacity is highly unlikely to be adversely affected by foreseeable events. |
AA |
VERY HIGH CREDIT QUALITY. ‘AA’ ratings denote expectations of very low default risk. They indicate very strong capacity for payment of financial commitments. This capacity is not significantly vulnerable to foreseeable events. |
A |
HIGH CREDIT QUALITY. ‘A’ ratings denote expectations of low default risk. The capacity for payment of financial commitments is considered strong. This capacity may, nevertheless, be more vulnerable to adverse business or economic conditions than is the case for higher ratings. |
BBB |
GOOD CREDIT QUALITY. ‘BBB’ ratings indicate that expectations of default risk are currently low. The capacity for payment of financial commitments is considered adequate, but adverse business or economic conditions are more likely to impair this capacity. |
BB |
SPECULATIVE. ‘BB’ ratings indicate an elevated vulnerability to default risk, particularly in the event of adverse changes in business or economic conditions over time; however, business or financial flexibility exists that supports the servicing of financial commitments. |
B |
HIGHLY SPECULATIVE. ‘B’ ratings indicate that material default risk is present, but a limited margin of safety remains. Financial commitments are currently being met; however, capacity for continued payment is vulnerable to deterioration in the business and economic environment. |
CCC |
SUBSTANTIAL CREDIT RISK. Default is a real possibility. |
CC |
VERY HIGH LEVELS OF CREDIT RISK. Default of some kind appears probable. |
C |
NEAR DEFAULT. A default or default-like process has begun, or the issuer is in standstill, or for a closed funding vehicle, payment capacity is irrevocably impaired. Conditions that are indicative of a ‘C’ category rating for an issuer include: |
|
•the issuer has entered into a grace or cure period following non-payment of a material financial obligation; •the issuer has entered into a temporary negotiated waiver or standstill agreement following a payment default on a material financial obligation; •the formal announcement by the issuer or their agent of a distressed debt exchange; •a closed financing vehicle where payment capacity is irrevocably impaired such that it is not expected to pay interest and/or principal in full during the life of the transaction, but where no payment default is imminent. |
RD |
RESTRICTED DEFAULT. ‘RD’ ratings indicate an issuer that in Fitch’s opinion has experienced: |
|
•an uncured payment default or distressed debt exchange on a bond, loan or other material financial obligation, but •has not entered into bankruptcy filings, administration, receivership, liquidation or other formal winding-up procedure, and •has not otherwise ceased operating. This would include: •the selective payment default on a specific class or currency of debt; •the uncured expiry of any applicable grace period, cure period or default forbearance period following a payment default on a bank loan, capital markets security or other material financial obligation; •the extension of multiple waivers or forbearance periods upon a payment default on one or more material financial obligations, either in series or in parallel; ordinary execution of a distressed debt exchange on one or more material financial obligations. |
D |
DEFAULT. ‘D’ ratings indicate an issuer that in Fitch Ratings’ opinion has entered into bankruptcy filings, administration, receivership, liquidation or other formal winding-up procedure or that has otherwise ceased business. |
Aaa |
Obligations rated Aaa are judged to be of the highest quality, with minimal risk. |
Aa |
Obligations rated Aa are judged to be of high quality and are subject to very low credit risk. |
A |
Obligations rated A are judged to be upper-medium-grade and are subject to low credit risk. |
Baa |
Obligations rated Baa are subject to moderate credit risk. They are considered medium- grade and as such may possess certain speculative characteristics. |
Ba |
Obligations rated Ba are judged to have speculative elements and are subject to substantial credit risk. |
B |
Obligations rated B are considered speculative and are subject to high credit risk. |
Caa |
Obligations rated Caa are judged to be of poor standing and are subject to very high credit risk. |
Ca |
Obligations rated Ca are highly speculative and are likely in, or very near, default, with some prospect of recovery in principal and interest. |
C |
Obligations rated C are the lowest-rated class of bonds and are typically in default, with little prospect for recovery of principal or interest. |
AAA |
Highest credit quality. The capacity for the payment of financial obligations is exceptionally high and unlikely to be adversely affected by future events. |
AA |
Superior credit quality. The capacity for the payment of financial obligations is considered high. Credit quality differs from AAA only to a small degree. Unlikely to be significantly vulnerable to future events. |
A |
Good credit quality. The capacity for the payment of financial obligations is substantial, but of lesser credit quality than AA. May be vulnerable to future events, but qualifying negative factors are considered manageable. |
BBB |
Adequate credit quality. The capacity for the payment of financial obligations is considered acceptable. May be vulnerable to future events. |
BB |
Speculative, non-investment grade credit quality. The capacity for the payment of financial obligations is uncertain. Vulnerable to future events. |
B |
Highly speculative credit quality. There is a high level of uncertainty as to the capacity to meet financial obligations. |
CCC/CC/C |
Very highly speculative credit quality. In danger of defaulting on financial obligations. There is little difference between these three categories, although CC and C ratings are normally applied to obligations that are seen as highly likely to default, or subordinated to obligations rated in the CCC to B range. Obligations in respect of which default has not technically taken place but is considered inevitable may be rated in the C category. |
D |
When the issuer has filed under any applicable bankruptcy, insolvency or winding up statute or there is a failure to satisfy an obligation after the exhaustion of grace periods, a downgrade to D may occur. DBRS Morningstar may also use SD (Selective Default) in cases where only some securities are impacted, such as the case of a “distressed exchange.” |
AAA |
An insurer rated ‘AAA’ has extremely strong financial security characteristics. ‘AAA’ is the highest insurer financial strength rating assigned by S&P Global Ratings. |
AA |
An insurer rated ‘AA’ has very strong financial security characteristics, differing only slightly from those rated higher. |
A |
An insurer rated ‘A’ has strong financial security characteristics, but is somewhat more likely to be affected by adverse business conditions than are insurers with higher ratings. |
BBB |
An insurer rated ‘BBB’ has good financial security characteristics, but is more likely to be affected by adverse business conditions than are higher-rated insurers. |
BB, B, CCC, and CC |
An insurer rated ‘BB’ or lower is regarded as having vulnerable characteristics that may outweigh its strengths, ‘BB’ indicates the least degree of vulnerability within the range and ‘CC’ the highest. |
BB |
An insurer rated ‘BB’ has marginal financial security characteristics. Positive attributes exist, but adverse business conditions could lead to insufficient ability to meet financial commitments. |
B |
An insurer rated ‘B’ has weak financial security characteristics. Adverse business conditions will likely impair its ability to meet financial commitments. |
CCC |
An insurer rated ‘CCC’ has very weak financial security characteristics, and is dependent on favorable business conditions to meet financial commitments. |
CC |
An insurer rated ‘CC’ has extremely weak financial security characteristics and is likely not to meet some of its financial commitments. |
SD and D |
An insurer rated ‘SD’ (selective default) or ‘D’ is in default on one or more of its insurance policy obligations. The ‘D’ rating also will be used upon the filing of a bankruptcy petition or the taking of similar action if payments on a policy obligation are at risk. A ‘D’ rating is assigned when S&P Global Ratings believes that the default will be a general default and that the obligor will fail to pay substantially all of its obligations in full in accordance with the policy terms. An ‘SD’ rating is assigned when S&P Global Ratings believes that the insurer has selectively defaulted on a specific class of policies but it will continue to meet its payment obligations on other classes of obligations. An ‘SD’ includes the completion of a distressed debt restructuring. Claim denials due to lack of coverage or other legally permitted defenses are not considered defaults. |
AAA |
EXCEPTIONALLY STRONG. ‘AAA’ IFS Ratings denote the lowest expectation of ceased or interrupted payments. They are assigned only in the case of exceptionally strong capacity to meet policyholder and contract obligations. This capacity is highly unlikely to be adversely affected by foreseeable events. |
AA |
VERY STRONG. ‘AA’ IFS Ratings denote a very low expectation of ceased or interrupted payments. They indicate very strong capacity to meet policyholder and contract obligations. This capacity is not significantly vulnerable to foreseeable events. |
A |
STRONG. ‘A’ IFS Ratings denote a low expectation of ceased or interrupted payments. They indicate strong capacity to meet policyholder and contract obligations. This capacity may, nonetheless, be more vulnerable to changes in circumstances or in economic conditions than is the case for higher ratings. |
BBB |
GOOD. ‘BBB’ IFS Ratings indicate that there is currently a low expectation of ceased or interrupted payments. The capacity to meet policyholder and contract obligations on a timely basis is considered adequate, but adverse changes in circumstances and economic conditions are more likely to impact this capacity. |
BB |
MODERATELY WEAK. ‘BB’ IFS Ratings indicate that there is an elevated vulnerability to ceased or interrupted payments, particularly as the result of adverse economic or market changes over time. However, business or financial alternatives may be available to allow for policyholder and contract obligations to be met in a timely manner. |
B |
WEAK. ‘B’ IFS Ratings indicate two possible conditions. If obligations are still being met on a timely basis, there is significant risk that ceased or interrupted payments could occur in the future, but a limited margin of safety remains. Capacity for continued timely payments is contingent upon a sustained, favorable business and economic environment, and favorable market conditions. Alternatively, a ‘B’ IFS Rating is assigned to obligations that have experienced ceased or interrupted payments, but with the potential for extremely high recoveries. Such obligations would possess a recovery assessment of ‘RR1’ (Outstanding). |
CCC |
VERY WEAK. ‘CCC’ IFS Ratings indicate two possible conditions. If obligations are still being met on a timely basis, there is a real possibility that ceased or interrupted payments could occur in the future. Capacity for continued timely payments is solely reliant upon a sustained, favorable business and economic environment, and favorable market conditions. Alternatively, a ‘CCC’ IFS Rating is assigned to obligations that have experienced ceased or interrupted payments, and with the potential for average to superior recoveries. Such obligations would possess a recovery assessment of ‘RR2’ (Superior), ‘RR3’ (Good), and ‘RR4’ (Average). |
CC |
EXTREMELY WEAK. ‘CC’ IFS Ratings indicate two possible conditions. If obligations are still being met on a timely basis, it is probable that ceased or interrupted payments will occur in the future. Alternatively, a ‘CC’ IFS Rating is assigned to obligations that have experienced ceased or interrupted payments, with the potential for average to below-average recoveries. Such obligations would possess a recovery assessment of ‘RR4’ (Average) or ‘RR5’ (Below Average). |
C |
DISTRESSED. ‘C’ IFS Ratings indicate two possible conditions. If obligations are still being met on a timely basis, ceased or interrupted payments are imminent. Alternatively, a ‘C’ IFS Rating is assigned to obligations that have experienced ceased or interrupted payments, and with the potential for below average to poor recoveries. Such obligations would possess a recovery assessment of ‘RR5’ (Below Average) or ‘RR6’ (Poor). |
F1 |
Insurers are viewed as having a strong capacity to meet their near-term obligations. When an insurer rated in this rating category is designated with a (+) sign, it is viewed as having a very strong capacity to meet near-term obligations. |
F2 |
Insurers are viewed as having a good capacity to meet their near-term obligations. |
F3 |
Insurers are viewed as having an adequate capacity to meet their near-term obligations. |
B |
Insurers are viewed as having a weak capacity to meet their near-term obligations. |
C |
Insurers are viewed as having a very weak capacity to meet their near-term obligations. |
RR1 |
OUTSTANDING RECOVERY PROSPECTS GIVEN DEFAULT. ‘RR1’ rated securities have characteristics consistent with securities historically recovering 91%–100% of current principal and related interest. |
RR2 |
SUPERIOR RECOVERY PROSPECTS GIVEN DEFAULT. ‘RR2’ rated securities have characteristics consistent with securities historically recovering 71%–90% of current principal and related interest. |
RR3 |
GOOD RECOVERY PROSPECTS GIVEN DEFAULT. ‘RR3’ rated securities have characteristics consistent with securities historically recovering 51%–70% of current principal and related interest. |
RR4 |
AVERAGE RECOVERY PROSPECTS GIVEN DEFAULT. ‘RR4’ rated securities have characteristics consistent with securities historically recovering 31%–50% of current principal and related interest. |
RR5 |
BELOW AVERAGE RECOVERY PROSPECTS GIVEN DEFAULT. ‘RR5’ rated securities have characteristics consistent with securities historically recovering 11%– 30% of current principal and related interest. |
RR6 |
POOR RECOVERY PROSPECTS GIVEN DEFAULT. ‘RR6’ rated securities have characteristics consistent with securities historically recovering 0%–10% of current principal and related interest. |
Aaa |
Insurance companies rated Aaa are judged to be of the highest quality, subject to the lowest level of credit risk. |
Aa |
Insurance companies rated Aa are judged to be of high quality and are subject to very low credit risk. |
A |
Insurance companies rated A are judged to be upper-medium grade and are subject to low credit risk. |
Baa |
Insurance companies rated Baa are judged to be medium-grade and subject to moderate credit risk and as such may possess certain speculative characteristics. |
Ba |
Insurance companies rated Ba are judged to be speculative and are subject to substantial credit risk. |
B |
Insurance companies rated B are considered speculative and are subject to high credit risk. |
Caa |
Insurance companies rated Caa are judged to be speculative of poor standing and are subject to very high credit risk. |
Ca |
Insurance companies rated Ca are highly speculative and are likely in, or very near, default, with some prospect of recovery of principal and interest. |
C |
Insurance companies rated C are the lowest rated and are typically in default, with little prospect for recovery of principal or interest. |
P-1 |
Ratings of Prime-1 reflect a superior ability to repay short-term debt obligations. |
P-2 |
Ratings of Prime-2 reflect a strong ability to repay short-term debt obligations. |
P-3 |
Ratings of Prime-3 reflect an acceptable ability to repay short-term obligations. |
P-4 |
Issuers (or supporting institutions) rated Not Prime do not fall within any of the Prime rating categories. |
SP-1 |
Strong capacity to pay principal and interest. An issue determined to possess a very strong capacity to pay debt service is given a plus (+) designation. |
SP-2 |
Satisfactory capacity to pay principal and interest, with some vulnerability to adverse financial and economic changes over the term of the notes. |
SP-3 |
Speculative capacity to pay principal and interest. |
D |
‘D’ is assigned upon failure to pay the note when due, completion of a distressed debt restructuring, or the filing of a bankruptcy petition or the taking of similar action and where default on an obligation is a virtual certainty, for example, due to automatic stay provisions. |
MIG 1 |
This designation denotes superior credit quality. Excellent protection is afforded by established cash flows, highly reliable liquidity support or demonstrated broad-based access to the market for refinancing. |
MIG 2 |
This designation denotes strong credit quality. Margins of protection are ample, although not as large as in the preceding group. |
MIG 3 |
This designation denotes acceptable credit quality. Liquidity and cash-flow protection may be narrow, and market access for refinancing is likely to be less well-established. |
SG |
This designation denotes speculative-grade credit quality. Debt instruments in this category may lack sufficient margins of protection. |
VMIG 1 |
This designation denotes superior credit quality. Excellent protection is afforded by the superior short-term credit strength of the liquidity provider and structural and legal protections that ensure the timely payment of purchase price upon demand. |
VMIG 2 |
This designation denotes strong credit quality. Good protection is afforded by the strong short-term credit strength of the liquidity provider and structural and legal protections that ensure the timely payment of purchase price upon demand. |
VMIG 3 |
This designation denotes acceptable credit quality. Adequate protection is afforded by the satisfactory short-term credit strength of the liquidity provider and structural and legal protections that ensure the timely payment of purchase price upon demand. |
SG |
This designation denotes speculative-grade credit quality. Demand features rated in this category may be supported by a liquidity provider that does not have a sufficiently strong short-term rating or may lack the structural or legal protections necessary to ensure the timely payment of purchase price upon demand. |
Pfd-1 |
Preferred shares rated Pfd-1 are generally of superior credit quality, and are supported by entities with strong earnings and balance sheet characteristics. Pfd-1 ratings generally correspond with issuers with a AAA or AA category reference point1. |
Pfd-2 |
Preferred shares rated Pfd-2 are generally of good credit quality. Protection of dividends and principal is still substantial, but earnings, the balance sheet and coverage ratios are not as strong as Pfd-1 rated companies. Generally, Pfd-2 ratings correspond with issuers with an A category or higher reference point. |
Pfd-3 |
Preferred shares rated Pfd-3 are generally of adequate credit quality. While protection of dividends and principal is still considered acceptable, the issuing entity is more susceptible to adverse changes in financial and economic conditions, and there may be other adverse conditions present which detract from debt protection. Pfd-3 ratings generally correspond with issuers with a BBB category or higher reference point. |
Pfd-4 |
Preferred shares rated Pfd-4 are generally speculative, where the degree of protection afforded to dividends and principal is uncertain, particularly during periods of economic adversity. Issuers with preferred shares rated Pfd-4 generally correspond with issuers with a BB category or higher reference point. |
Pfd-5 |
Preferred shares rated Pfd-5 are generally highly speculative and the ability of the entity to maintain timely dividend and principal payments in the future is highly uncertain. Entities with a Pfd-5 rating generally correspond with issuers with a B category or higher reference point. Preferred shares rated Pfd-5 often have characteristics that, if not remedied, may lead to default. |
D |
When the issuer has filed under any applicable bankruptcy, insolvency or winding up or the issuer is in default per the legal documents, a downgrade to D may occur. Because preferred share dividends are only payable when approved, the non-payment of a preferred share dividend does not necessarily result in a D. DBRS Morningstar may also use SD (Selective Default) in cases where only some securities are impacted, such as the case of a “distressed exchange”. See the Default Definition document posted on the website for more information. |
(a)(1) |
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(a)(2) |
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(a)(3) |
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(b) |
|
(c) |
Instruments Defining Rights of Security Holders. Incorporated by reference to Exhibits (a) and (b). |
(d)(1) |
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(d)(2) |
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(d)(3) |
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(d)(4) |
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(d)(5) |
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(d)(6) |
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(d)(7) |
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(e)(1) |
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(e)(2) |
|
(f) |
Not applicable. |
(g)(1)(a) |
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(g)(1)(b) |
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(g)(1)(c) |
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(g)(1)(d) |
(g)(1)(e) |
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(g)(1)(f) |
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(g)(2)(a) |
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(g)(2)(b) |
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(h)(1)(a) |
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(h)(1)(b) |
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(h)(1)(c) |
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(h)(1)(d) |
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(h)(2)(a) |
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(h)(2)(b) |
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(h)(2)(c) |
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(h)(3)(a) |
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(h)(3)(b) |
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(h)(3)(c) |
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(h)(3)(d) |
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(h)(3)(e) |
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(h)(3)(f) |
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(h)(3)(g) |
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(h)(4)(a) |
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(h)(4)(b) |
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(h)(4)(c) |
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(h)(5)(a) |
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(h)(5)(b) |
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(h)(6) |
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(i) |
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(j) |
|
(k) |
Not applicable. |
(l) |
Not applicable. |
(m) |
Not applicable. |
(n) |
Not applicable. |
(o) |
Reserved. |
(p)(1) |
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(p)(2) |
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(p)(3) |
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(99)(a) |
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(99)(b) |
|
(99)(c) |
EX-101.INS |
XBRL Instance Document - the instance document does not appear on the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. |
EX-101.SCH |
XBRL Taxonomy Extension Schema Document. |
EX-101.CAL |
XBRL Taxonomy Extension Calculation Linkbase Document. |
EX-101.DEF |
XBRL Taxonomy Extension Definition Linkbase Document. |
EX-101.LAB |
XBRL Taxonomy Extension Labels Linkbase Document. |
EX-101.PRE |
XBRL Taxonomy Extension Presentation Linkbase Document. |
Name with Registrant |
Positions and Office with JPMorgan Distribution Services, Inc. |
Positions and Offices with the Funds |
Wendy Barta |
Director, Executive Director & President |
None |
Andrea Lisher |
Director & Managing Director |
None |
Joseph F. Sanzone |
Director & Managing Director |
None |
Omar F. Altahawi |
Managing Director & Treasurer |
None |
Gary C. Krivo |
Managing Director & Chief Risk Officer |
None |
Michael R. Machulski |
Director & Managing Director |
None |
Brian S. Shlissel |
Managing Director |
President & Principal Executive Officer |
James A. Hoffman |
Executive Director |
None |
Carmine Lekstutis |
Executive Director & Chief Legal Officer |
Assistant Secretary |
Jessica K. Ditullio |
Executive Director & Assistant Secretary |
Assistant Secretary |
Kevin Kloza |
Executive Director and Chief Compliance Officer |
None |
Andrea Lang |
Vice President & Anti-Money Laundering Compliance Officer |
None |
Frank J. Drozek |
Executive Director & Assistant Treasurer |
None |
Christopher J. Mohr |
Executive Director & Assistant Treasurer |
None |
Joanna Corey |
Executive Director & Assistant Secretary |
None |
Marcela Castro |
Executive Director & Assistant Secretary |
None |
Afiya M. Jordan |
Vice President & Secretary |
None |
Amee Kantesaria |
Vice President & Assistant Secretary |
None |
Amy Hsu |
Vice President & Assistant Secretary |
None |
Andris Alexander |
Vice President & Assistant Secretary |
None |
Theodore Weisman |
Vice President & Assistant Secretary |
None |
J.P. Morgan Exchange-Traded Fund Trust | |
By: |
Brian S. Shlissel* |
|
Name: Brian S. Shlissel |
|
Title: President and Principal Executive Officer |
John F. Finn* |
John F. Finn |
Trustee |
Stephen P. Fisher* |
Stephen P. Fisher |
Trustee |
Gary L. French* |
Gary L. French |
Trustee |
Kathleen M. Gallagher* |
Kathleen M. Gallagher |
Trustee |
Robert J. Grassi* |
Robert J. Grassi |
Trustee |
Frankie D. Hughes* |
Frankie D. Hughes |
Trustee |
Raymond Kanner* |
Raymond Kanner |
Trustee |
Thomas P. Lemke* |
Thomas P. Lemke |
Trustee |
Timothy J. Clemens* |
Timothy J. Clemens |
Treasurer and Principal Financial Officer |
*By |
/s/ Elizabeth A. Davin |
|
Elizabeth A. Davin |
|
Attorney-In-Fact |
Lawrence R. Maffia* |
Lawrence R. Maffia |
Trustee |
Mary E. Martinez* |
Mary E. Martinez |
Trustee |
Marilyn McCoy* |
Marilyn McCoy |
Trustee |
Robert A. Oden, Jr.* |
Robert A. Oden, Jr. |
Trustee |
Marian U. Pardo* |
Marian U. Pardo |
Trustee |
Emily A. Youssouf* |
Emily A. Youssouf |
Trustee |
Robert F. Deutsch* |
Robert F. Deutsch |
Trustee |
Nina O. Shenker* |
Nina O. Shenker |
Trustee |
Brian S. Shlissel* |
Brian S. Shlissel |
President and Principal Executive Officer |
Exhibit No. |
Description |
(a)(3) |
Amended Schedule A to the Amended and Restated Declaration of Trust as of February 9, 2023. |
(d)(2) |
Form of Amended Schedule A to the Management Agreement as of February 9, 2023. |
(e)(2) |
Form of Amended Schedule A to the Distribution Agreement as of February 9, 2023. |
(g)(1)(b) |
Form of Amendment to the Amended and Restated Global Custody and Fund Accounting Agreement as of February 9, 2023, including Amended Schedule A. |
(g)(1)(f) |
Amendment to the Amended and Restated Global Custody and Fund Accounting Agreement as of December 1, 2022, including Schedules A and F. |
(g)(2)(b) |
Form of Amendment to Third Party Securities Lending Rider as of February 9, 2023. |
(h)(1)(b) |
Form of Amendment to the Agency Services Agreement as of February 9, 2023, including Amended Exhibit A. |
(h)(1)(d) |
Amendment to the Agency Services Agreement as of December 1, 2022, including Amended Exhibit B. |
(h)(3)(f) |
Form of Amendment to the Global Securities Lending Agency Agreement as of February 9, 2023. |
(i) |
Opinion and consent of counsel. |
(j) |
Consent of independent registered accounting firm. |
(p)(2) |
Code of Ethics of J.P. Morgan Asset Management, Inc., including JPMIM. |
(99)(a) |
Power of Attorney for the Trustees. |
(99)(b) |
Power of Attorney for Brian S. Shlissel. |
(99)(c) |
Power of Attorney for Timothy J. Clemens. |
EX-101.INS |
XBRL Instance Document - the instance document does not appear on the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. |
EX-101.SCH |
XBRL Taxonomy Extension Schema Document. |
EX-101.CAL |
XBRL Taxonomy Extension Calculation Linkbase Document. |
EX-101.DEF |
XBRL Taxonomy Extension Definition Linkbase Document. |
EX-101.LAB |
XBRL Taxonomy Extension Labels Linkbase Document. |
EX-101.PRE |
XBRL Taxonomy Extension Presentation Linkbase Document. |