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JPMorgan Sustainable Municipal Income ETF

Active ETF
JMSI
Payout Change
Pending
Price as of:
$50.07 -0.16 -0.31%
primary theme
N/A
JMSI (ETF)

JPMorgan Sustainable Municipal Income ETF

Payout Change
Pending
Price as of:
$50.07 -0.16 -0.31%
primary theme
N/A
JMSI (ETF)

JPMorgan Sustainable Municipal Income ETF

Payout Change
Pending
Price as of:
$50.07 -0.16 -0.31%
primary theme
N/A

Name

As of 12/31/2024

Price

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

JPMorgan Sustainable Municipal Income ETF

JMSI | Active ETF

$50.07

$239 M

3.50%

$1.75

0.52%

Vitals

YTD Return

0.3%

1 yr return

2.7%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$239 M

Holdings in Top 10

27.4%

52 WEEK LOW AND HIGH

$50.2
$49.57
$51.11

Expenses

OPERATING FEES

Expense Ratio 0.52%

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 12/31/2024

Price

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

JPMorgan Sustainable Municipal Income ETF

JMSI | Active ETF

$50.07

$239 M

3.50%

$1.75

0.52%

JMSI - Profile

Distributions

  • YTD Total Return 0.3%
  • 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
DIVIDENDS
  • Dividend Yield 3.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    JPMorgan Sustainable Municipal Income ETF
  • Fund Family Name
    JPMorgan Funds
  • Inception Date
    Jul 17, 2023
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US

Fund Description

The Fund invests in a portfolio of municipal bonds, including municipal mortgage-backed and asset-backed securities. While current income is the Fund’s primary focus, it seeks to produce income in a manner consistent with the preservation of principal.Under normal circumstances, the Fund invests at least 80% of its Assets in municipal bonds, the income from which is exempt from federal income tax. This is a fundamental policy. For the purposes of this policy, “Assets” means net assets, plus the amount of borrowings for investment purposes. Up to 25% of the Fund’s Assets may be invested in municipal securities, the interest on which may be subject to the federal alternative minimum tax for individuals. The Fund also invests in municipal mortgage-backed and asset-backed securities, as well as restricted securities. The Fund may invest a significant portion or all of its assets in municipal mortgage-backed securities at the adviser’s discretion. The securities in which the Fund invests may have fixed rates of return or floating or variable rates.Municipal bonds are debt securities with maturities of 90 days or more at the time of issuance issued by states, territories and possessions of the United States, including the District of Columbia, and their respective authorities, political subdivisions, agencies and instrumentalities, the interest on which is exempt from federal income tax. The securities are issued to raise funds for various public and private purposes. Municipal bonds include private activity and industrial development bonds, tax anticipation notes and participations in pools of municipal securities.“Sustainable” in the Fund’s name refers to the Fund’s strategy to invest in sustainable securities. Under normal circumstances, the Fund invests at least 80% of its Assets in sustainable municipal securities as determined under the adviser’s investment process (the Sustainable 80% Policy). For purposes of the Sustainable 80% Policy, sustainable municipal securities are defined by the adviser as municipal bonds (as described above) whose use of proceeds, in the adviser’s opinion, provide positive social or environmental benefits. This policy may be changed by the Board of Trustees without shareholder approval. However, the Fund will provide shareholders with written notice at least 60 days prior to a change in its Sustainable 80% Policy.The adviser uses the use of proceeds process described below to identify investments for the Fund, other than its investments in derivatives, cash and cash equivalents. The adviser has determined that bonds that finance affordable housing, healthcare, municipal water and sewer, education, mass transit, and issuer designated green bonds promote positive social or environmental benefits for purposes of the Sustainable 80% Policy. In addition to the types of sustainable municipal securities noted above, the adviser may identify additional types of bonds and uses of bond proceeds that it believes will provide positive social or environmental benefits for purposes of the Sustainable 80% Policy. In order to identify and invest in other types securities that provide positive social or environmental benefits for purposes of the Sustainable 80% Policy, the adviser determines and assesses such security’s intended use of proceeds. Compliance with the Fund’s 80% Sustainable Policy is determined based on the security’s characteristics at the time of purchase. If the use of proceeds of a security changes after the time of purchase so as to no longer provide positive social and/or environmental benefits, the Fund may continue to hold the security. Up to 20% of the Fund’s Assets may be invested in cash and cash equivalents, derivatives, and investments that the adviser has not determined provide social or environmental benefits.The Fund may invest up to 20% of its total assets in securities rated below investment grade. Such securities are known as “junk bonds,” “high yield bonds” and “non-investment grade bonds.” Junk bonds also include unrated securities that the adviser believes to be of comparable quality to debt securities that are rated below investment grade. These securities generally are rated in the fifth or lower rating categories (for example, BB+ or lower by S&P and Ba1 or lower by Moody’s). These securities generally offer a higher yield than investment grade securities, but involve a high degree of risk. A security’s quality is determined at the time of purchase and securities that are rated investment grade or the unrated equivalent may be downgraded or decline in credit quality, such that, following the time of purchase, they would be deemed to be below investment grade. If the quality of an investment grade security is downgraded subsequent to purchase to below investment grade, the Fund may continue to hold the security.As a matter of fundamental policy, the Fund will not invest more than 25% of its total assets: (i) in securities within a single industry; or (ii) in securities of governmental units or issuers in the same state, territory or possession. However, from time to time, the Fund will invest more than 25% of its total assets in municipal housing authority obligations.The Fund’s average weighted maturity will range from three to 15 years, although the Fund may shorten its average weighted maturity to as little as two years if appropriate for temporary defensive purposes. Average weighted maturity is the average of all the current maturities (that is, the term of the securities) of the individual bonds in a Fund calculated so as to count most heavily those securities with the highest dollar value. Average weighted maturity is important to investors as an indication of a Fund’s sensitivity to changes in interest rates. Usually, the longer the average weighted maturity, the more fluctuation in share price you can expect.The Fund may also invest in zero-coupon securities.Investment Process: The adviser buys and sells securities and investments for the Fund based on its view of individual securities and market sectors. Taking a long-term approach, the adviser looks for individual fixed income investments that it believes will perform well over market cycles. The adviser is value oriented and makes investment decisions after performing a risk/reward analysis that includes an evaluation of interest rate risk, credit risk, duration, liquidity, any security pledge, and a review of the security’s attributes such as the coupon, maturity and any redemption and tender provisions. The adviser’s risk/reward analysis along with its use of proceeds process allows the adviser to collectively evaluate those criteria when selecting securities for purchase.The adviser utilizes a proprietary framework to monitor the portfolio’s overall investment in bonds that have been designated as providing positive social or environmental benefits. Through the framework, the adviser assesses characteristics of bond issuances and their proceeds using third party data and/or internal research. The proprietary framework, as well as the adviser’s views on municipal bond use of proceeds, are periodically reviewed internally.Generally, the adviser determines whether or not to sell a security by looking at a number of factors such as the security’s attributes (e.g., coupon, maturity and redemption/tender provisions), liquidity, relative value and the credit quality of the security. The adviser also factors in the overall investment strategy of the Fund, including its positioning relative to the benchmark, its duration and its credit strategy, as well as the adviser’s interest rate outlook.
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JMSI - Performance

Return Ranking - Trailing

Period JMSI Return Category Return Low Category Return High Rank in Category (%)
YTD 0.3% N/A N/A N/A
1 Yr 2.7% N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Return Ranking - Calendar

Period JMSI Return Category Return Low Category Return High Rank in Category (%)
2024 -0.9% N/A N/A N/A
2023 N/A N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A
2020 N/A N/A N/A N/A

Total Return Ranking - Trailing

Period JMSI Return Category Return Low Category Return High Rank in Category (%)
YTD 0.3% N/A N/A N/A
1 Yr 2.7% N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Total Return Ranking - Calendar

Period JMSI Return Category Return Low Category Return High Rank in Category (%)
2024 2.8% N/A N/A N/A
2023 N/A N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A
2020 N/A N/A N/A N/A

JMSI - Holdings

Concentration Analysis

JMSI Category Low Category High JMSI % Rank
Net Assets 239 M N/A N/A N/A
Number of Holdings 168 N/A N/A N/A
Net Assets in Top 10 60 M N/A N/A N/A
Weighting of Top 10 27.44% N/A N/A N/A

Top 10 Holdings

  1. JPMorgan Institutional Tax Free Money Market Fund, Class IM 11.65%
  2. New York City Municipal Water Finance Authority, Water and Sewer System, Second General Resolution, Fiscal Year 2023, Series 2023, Subseries B-1 2.97%
  3. FYI Properties, State of Washington District Project 2.40%
  4. Maricopa County Industrial Development Authority, Banner Health, Series A 2.02%
  5. City of Detroit, Unlimited Tax, Series 2023A 1.73%
  6. Palm Beach County School District, Series 2023A 1.48%
  7. Lee County School Board (The), Series 2023A 1.36%
  8. Texas Water Development Board, State Water Implementation Fund, Series 2019A 1.34%
  9. South Carolina Jobs-Economic Development Authority, Novant Health Obligated Group, Series 2024 A 1.27%
  10. Colorado Housing and Finance Authority, Series 2023L, Class III 1.21%

Asset Allocation

Weighting Return Low Return High JMSI % Rank
Bonds 		84.33% N/A N/A N/A
Cash 		15.91% N/A N/A N/A
Other 		0.02% N/A N/A N/A
Stocks 		0.00% N/A N/A N/A
Preferred Stocks 		0.00% N/A N/A N/A
Convertible Bonds 		0.00% N/A N/A N/A

Bond Sector Breakdown

Weighting Return Low Return High JMSI % Rank
Cash & Equivalents 		15.91% N/A N/A N/A
Derivative 		0.02% N/A N/A N/A
Securitized 		0.00% N/A N/A N/A
Corporate 		0.00% N/A N/A N/A
Municipal 		0.00% N/A N/A N/A
Government 		0.00% N/A N/A N/A

Bond Geographic Breakdown

Weighting Return Low Return High JMSI % Rank
US 		84.33% N/A N/A N/A
Non US 		0.00% N/A N/A N/A

JMSI - Expenses

Operational Fees

JMSI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.52% N/A N/A N/A
Management Fee 0.30% N/A N/A N/A
12b-1 Fee N/A N/A N/A N/A
Administrative Fee N/A N/A N/A N/A

Sales Fees

JMSI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A N/A N/A N/A
Deferred Load N/A N/A N/A N/A

Trading Fees

JMSI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A 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.

JMSI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A N/A N/A N/A

JMSI - Distributions

Dividend Yield Analysis

JMSI Category Low Category High JMSI % Rank
Dividend Yield 3.50% N/A N/A N/A

Dividend Distribution Analysis

JMSI Category Low Category High Category Mod
Dividend Distribution Frequency Monthly

Net Income Ratio Analysis

JMSI Category Low Category High JMSI % Rank
Net Income Ratio N/A N/A N/A N/A

Capital Gain Distribution Analysis

JMSI Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

View More +

JMSI - Fund Manager Analysis

Tenure Analysis

Category Low Category High Category Average Category Mode
N/A N/A N/A N/A

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