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JPMorgan Nasdaq Equity Premium Income ETF
Active ETF
JEPQ
Payout Change
Pending
Price as of:
$57.2
+0.4
+0.7%
primary theme
N/A
JEPQ (ETF)
JPMorgan Nasdaq Equity Premium Income ETF
Payout Change
Pending
Price as of:
$57.2
+0.4
+0.7%
primary theme
N/A
JEPQ (ETF)
JPMorgan Nasdaq Equity Premium Income ETF
Payout Change
Pending
Price as of:
$57.2
+0.4
+0.7%
primary theme
N/A
Name
As of 12/20/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
24.8%
1 yr return
25.9%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$19.6 B
Holdings in Top 10
43.4%
52 WEEK LOW AND HIGH
$56.8
$49.02
$58.06
Expenses
OPERATING FEES
Expense Ratio 0.35%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 12/20/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
JEPQ - Profile
Distributions
- YTD Total Return 24.8%
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio N/A
- Dividend Yield 10.7%
- Dividend Distribution Frequency Other
Fund Details
-
Legal NameJPMorgan Nasdaq Equity Premium Income ETF
-
Fund Family NameJPMorgan Funds
-
Inception DateMay 03, 2022
-
Shares OutstandingN/A
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerHamilton Reiner
Fund Description
The investment objective of the Fund is to seek current income while maintaining prospects for capital appreciation. The Fund seeks to achieve this objective by (1) creating an actively managed portfolio of equity securities comprised significantly of those included in the Fund’s primary benchmark, the Nasdaq-100 Index® (the Benchmark), and (2) through equity-linked notes (ELNs), selling call options with exposure to the Benchmark. The resulting Fund is designed to provide investors with performance that captures a majority of the returns associated with the Benchmark, while exposing investors to lower volatility than the Benchmark and also providing incremental income. The Fund is managed in a way that seeks, under normal circumstances, to provide monthly distributions at a relatively stable level. Under normal circumstances, the Fund invests at least 80% of its Assets in equity securities (80% Policy). “Assets” means net assets plus the amount of borrowings for investment purposes. In calculating the 80% Policy, the Fund’s equity investments will include common stocks and ELNs, as well as other equity securities.In implementing the Fund’s strategy, the Fund invests significantly in the equity securities of companies included in the Benchmark (which includes both large cap and mid cap companies). The Fund may also invest in other equity securities not included in the Benchmark. The Fund may receive income to the extent it invests in equity securities of companies that pay dividends; however, securities are not selected based on anticipated dividend payments. Currently, many of the equity securities in the Fund’s portfolio will be technology companies or companies that rely heavily on technological advances.The Fund seeks a lower volatility level than the Benchmark. Volatility is one way to measure risk and refers to the variability of the Fund’s or the market’s returns. If the Fund is successful in providing lower volatility, then the value of the Fund’s portfolio will fluctuate less than the Benchmark over a full market cycle (typically, a 3-5 year time horizon).In order to generate income, the Fund may invest up to 20% of its net assets in ELNs. ELNs are structured as notes that are issued by counterparties, including banks, broker-dealers or their affiliates, and that are designed to offer a return linked to the underlying instruments within the ELN. ELNs in which the Fund invests are derivative instruments that are specially designed to combine the economic characteristics of the Benchmark and written call options in a single note form and are not traded on an exchange. The options underlying the ELNs will be based on the Benchmark or on exchange-traded funds (ETFs) that replicate the Benchmark. Selling a call option entitles the seller to a premium equal to the value of the option at the time of trade. The ELNs owned by the Fund are structured to use a covered call strategy and have short call positions embedded within them. When the Fund purchases the ELN from the issuing counterparty, the Fund is entitled to the premium generated by the short call position within the ELN. Therefore, the ELNs provide recurring cash flow to the Fund based on the premiums received from selling the call options and are an important source of the Fund’s return. When the Fund sells call options within an ELN, it receives a premium but limits its opportunity to profit from an increase in the market value of either the underlying Benchmark or ETF to the exercise price (plus the premium received). The maximum potential gain on an underlying instrument will be equal to the difference between the exercise price and the purchase price of the underlying Benchmark or ETF at the time the option is written, plus the premium received. Investing in ELNs may also reduce the Fund’s volatility because the income from the ELNs would reduce potential losses incurred by the Fund’s equity portfolio. The ELNs are reset periodically to seek to better capitalize on current market conditions and opportunities; these resets assist the Fund in seeking to provide relatively stable returns.The Fund invests in a non-diversified portfolio of securities.The Fund will not invest more than 25% of the value of its total assets in the securities of companies conducting their principal business activities in the same industry, except that, to the extent that an industry represents 20% or more of the Fund’s benchmark at the time of investment, the Fund may invest up to 35% of its total assets in that industry.Investment Process: In managing the equity portion of the Fund’s portfolio, the adviser employs a fundamental data scienceenabled investment approach that combines research, data insights, and risk management. The adviser defines data science as the discipline of extracting useful insights from collections of information, and the adviser utilizes the insights as a part of its investment process. The adviser utilizes proprietary techniques to process, analyze, and combine a wide variety of data sources, including the adviser’s multi-decade history of proprietary fundamental research, company financial statements, and a varietyof other data sources that theadviser finds relevant toconducting fundamental analysis. The adviser combines insights derived from these sources to forecast the financial prospects of each security, also known as fundamental analysis. Alongside its own insights, the Fund’s portfolio management team uses the forecasts developed through data science techniques to help to identify securities that are priced favorably relative to their associated levels of risk. The Fund’s portfolio management team then constructs a portfolio that seeks to maximize expected future financial performance while controlling for key risks to the underlying companies’ businesses identified by the adviser’s analysis. The adviser assesses key risk by analyzing potential events or conditions that may have a negative impact on the adviser’s valuation of a particular security. Such key risks may include, but are not limited to, sensitivity to changes in macroeconomic conditions, competitive risks from existing companies or new entrants, and operational risks related to the companies’ business models. The adviser continuously evaluates the efficacy of the sources of information included within the investment process, and seeks to identify new data sources that will be additive to the adviser’s forecasts and portfolio construction.As part of its investment process, the adviser seeks to assess the impact of environmental, social and governance (ESG) factors on many issuers in the universe in which the Fund may invest. The adviser’s assessment is based on an analysis of key opportunities and risks across industries to seek to identify financially material issues with respect to the Fund’s investments in securities and ascertain key issues that merit engagement with issuers. These assessments may not be conclusive, and securities of issuers that may be negatively impacted by such factors may be purchased and retained by the Fund while the Fund may divest or not invest in securities of issuers that may be positively impacted by such factors.The adviser may sell a security for several reasons. A security may be sold due to a change in the company’s fundaments or if the adviser believes the security is no longer attractively valued relative to its associated levels of risk. Investments may also be sold if the adviser identifies a stock that it believes offers a better investment opportunity.The Fund’s investment strategies may involve active and frequent trading resulting in high portfolio turnover.
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JEPQ - Performance
Return Ranking - Trailing
| Period | JEPQ Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 24.8% | -54.4% | 28.3% | N/A |
| 1 Yr | 25.9% | -49.9% | 64.5% | N/A |
| 3 Yr | N/A* | -15.3% | 49.4% | N/A |
| 5 Yr | N/A* | -4.7% | 43.6% | N/A |
| 10 Yr | N/A* | 2.2% | 23.5% | N/A |
* Annualized
Return Ranking - Calendar
| Period | JEPQ Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 22.4% | -87.9% | 326.9% | N/A |
| 2022 | N/A | -67.0% | 145.0% | N/A |
| 2021 | N/A | -28.8% | 76.0% | N/A |
| 2020 | N/A | -57.9% | 10.6% | N/A |
| 2019 | N/A | -68.7% | 64.3% | N/A |
Total Return Ranking - Trailing
| Period | JEPQ Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 24.8% | -60.6% | 28.3% | N/A |
| 1 Yr | 25.9% | -52.2% | 64.5% | N/A |
| 3 Yr | N/A* | -16.3% | 49.4% | N/A |
| 5 Yr | N/A* | -5.1% | 43.6% | N/A |
| 10 Yr | N/A* | 2.1% | 23.5% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | JEPQ Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 36.2% | -87.9% | 326.9% | N/A |
| 2022 | N/A | -67.0% | 145.0% | N/A |
| 2021 | N/A | -28.8% | 76.0% | N/A |
| 2020 | N/A | -57.9% | 16.5% | N/A |
| 2019 | N/A | -68.7% | 64.3% | N/A |
JEPQ - Holdings
Concentration Analysis
| JEPQ | Category Low | Category High | JEPQ % Rank | |
|---|---|---|---|---|
| Net Assets | 19.6 B | 187 K | 227 B | N/A |
| Number of Holdings | 99 | 2 | 3509 | N/A |
| Net Assets in Top 10 | 7.29 B | -1.89 M | 104 B | N/A |
| Weighting of Top 10 | 43.37% | 8.5% | 100.0% | N/A |
Top 10 Holdings
- Apple, Inc. 7.59%
- Microsoft Corp. 6.84%
- NVIDIA Corp. 6.59%
- Meta Platforms, Inc., Class A 4.44%
- Amazon.com, Inc. 4.31%
- Alphabet, Inc., Class C 3.86%
- Broadcom, Inc. 3.72%
- Tesla, Inc. 2.45%
- Netflix, Inc. 1.83%
- JPMorgan U.S. Government Money Market Fund, Class IM 1.75%
Asset Allocation
| Weighting | Return Low | Return High | JEPQ % Rank | |
|---|---|---|---|---|
| Stocks | 82.10% | 0.00% | 126.20% | N/A |
| Bonds | 15.64% | -2.69% | 9.77% | N/A |
| Cash | 2.26% | -26.20% | 100.00% | N/A |
| Preferred Stocks | 0.00% | 0.00% | 4.41% | N/A |
| Other | 0.00% | -1.43% | 17.15% | N/A |
| Convertible Bonds | 0.00% | 0.00% | 0.44% | N/A |
Stock Sector Breakdown
| Weighting | Return Low | Return High | JEPQ % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 11.26% | N/A |
| Technology | 0.00% | 0.00% | 65.70% | N/A |
| Real Estate | 0.00% | 0.00% | 21.64% | N/A |
| Industrials | 0.00% | 0.00% | 39.00% | N/A |
| Healthcare | 0.00% | 0.00% | 39.63% | N/A |
| Financial Services | 0.00% | 0.00% | 43.06% | N/A |
| Energy | 0.00% | 0.00% | 37.60% | N/A |
| Communication Services | 0.00% | 0.00% | 64.53% | N/A |
| Consumer Defense | 0.00% | 0.00% | 25.50% | N/A |
| Consumer Cyclical | 0.00% | 0.00% | 62.57% | N/A |
| Basic Materials | 0.00% | 0.00% | 22.68% | N/A |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | JEPQ % Rank | |
|---|---|---|---|---|
| US | 82.10% | 0.00% | 125.09% | N/A |
| Non US | 0.00% | 0.00% | 52.33% | N/A |
Bond Sector Breakdown
| Weighting | Return Low | Return High | JEPQ % Rank | |
|---|---|---|---|---|
| Cash & Equivalents | 1.81% | 0.00% | 100.00% | N/A |
| Derivative | 0.00% | 0.00% | 82.03% | N/A |
| Securitized | 0.00% | 0.00% | 43.70% | N/A |
| Corporate | 0.00% | 0.00% | 100.00% | N/A |
| Municipal | 0.00% | 0.00% | 0.01% | N/A |
| Government | 0.00% | 0.00% | 77.28% | N/A |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | JEPQ % Rank | |
|---|---|---|---|---|
| US | 15.64% | -2.69% | 7.22% | N/A |
| Non US | 0.00% | 0.00% | 2.55% | N/A |
JEPQ - Expenses
Operational Fees
| JEPQ Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.35% | 0.01% | 7.09% | 85.55% |
| Management Fee | 0.35% | 0.00% | 1.50% | 11.47% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.00% | 1.02% | N/A |
Sales Fees
| JEPQ Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.00% | 8.50% | N/A |
| Deferred Load | N/A | 1.00% | 5.50% | N/A |
Trading Fees
| JEPQ Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 5.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| JEPQ Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 316.74% | N/A |
JEPQ - Distributions
Dividend Yield Analysis
| JEPQ | Category Low | Category High | JEPQ % Rank | |
|---|---|---|---|---|
| Dividend Yield | 10.66% | 0.00% | 6.14% | 1.49% |
Dividend Distribution Analysis
| JEPQ | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Other | Annually | Monthly | Annually |
Net Income Ratio Analysis
| JEPQ | Category Low | Category High | JEPQ % Rank | |
|---|---|---|---|---|
| Net Income Ratio | N/A | -6.13% | 2.90% | N/A |
Capital Gain Distribution Analysis
| JEPQ | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 02, 2024 | $0.508 | OrdinaryDividend |
| Nov 01, 2024 | $0.494 | OrdinaryDividend |
| Oct 01, 2024 | $0.551 | OrdinaryDividend |
| Sep 03, 2024 | $0.557 | OrdinaryDividend |
| Aug 01, 2024 | $0.427 | OrdinaryDividend |
| Jul 01, 2024 | $0.421 | OrdinaryDividend |
| Jun 03, 2024 | $0.450 | OrdinaryDividend |
| May 01, 2024 | $0.431 | OrdinaryDividend |
| Apr 01, 2024 | $0.427 | OrdinaryDividend |
| Mar 01, 2024 | $0.380 | OrdinaryDividend |
| Feb 01, 2024 | $0.342 | OrdinaryDividend |
| Dec 28, 2023 | $0.392 | OrdinaryDividend |
| Dec 01, 2023 | $0.422 | OrdinaryDividend |
| Nov 01, 2023 | $0.418 | OrdinaryDividend |
| Oct 02, 2023 | $0.417 | OrdinaryDividend |
| Sep 01, 2023 | $0.451 | OrdinaryDividend |
| Aug 01, 2023 | $0.366 | OrdinaryDividend |
| Jul 03, 2023 | $0.367 | OrdinaryDividend |
| Jun 01, 2023 | $0.357 | OrdinaryDividend |
| May 01, 2023 | $0.484 | OrdinaryDividend |
| Apr 03, 2023 | $0.454 | OrdinaryDividend |
| Mar 01, 2023 | $0.433 | OrdinaryDividend |
| Feb 01, 2023 | $0.441 | OrdinaryDividend |
| Dec 29, 2022 | $0.576 | OrdinaryDividend |
| Dec 01, 2022 | $0.546 | OrdinaryDividend |
| Nov 01, 2022 | $0.681 | OrdinaryDividend |
| Oct 03, 2022 | $0.380 | OrdinaryDividend |
| Sep 01, 2022 | $0.546 | OrdinaryDividend |
| Aug 01, 2022 | $0.407 | OrdinaryDividend |
| Jul 01, 2022 | $0.340 | OrdinaryDividend |
| Jun 01, 2022 | $0.376 | OrdinaryDividend |
JEPQ - Fund Manager Analysis
Managers
Hamilton Reiner
Start Date
Tenure
Tenure Rank
May 03, 2022
0.08
0.1%
Hamilton Reiner, a Managing Director of J.P. Morgan Investment Management, Inc., is responsible for implementing the Fund’s overlay options strategy and for providing insight with respect to the impact to the options strategy of purchasing certain securities. Mr. Reiner has been the head of U.S. Equity Derivatives at JPMIM since 2012. He joined JPMorgan Chase in 2009 and from 2009 to 2012, he was a portfolio manager and head of U.S. Equity Derivatives at JPMorgan Chase. Prior to joining the firm, Mr. Reiner was head of the Equity Long/Short Prime Brokerage platform at Barclays Capital.
Eric Moreau
Start Date
Tenure
Tenure Rank
May 03, 2022
0.08
0.1%
Eric Moreau, a Vice President and employee since 2013, is a data scientist and portfolio manager on the U.S. Structured Equity team, focusing on data analytics and portfolio management.
Andrew Stern
Start Date
Tenure
Tenure Rank
May 03, 2022
0.08
0.1%
Mr. Stern, an Executive Director and a CFA charterholder, is a research analyst and portfolio manager on the U.S. Structured Equity Team. Mr. Stern is a generalist analyst whose coverage spans various industries including financial and healthcare. An employee since 2008, Mr. Stern has been a research analyst since 2011
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.07 | 54.36 | 7.67 | 3.0 |
