JBND is managed by our experienced core fixed income team with an average of over 20 years’ experience, leveraging a fixed income platform of $755+ billion in AUM.¹
Diversification may not only reduce volatility but increase the potential to outperform the Agg
Active core bond strategies can tap into fixed income sectors beyond the benchmark Agg
JBND allocates 27%+ to securitized bonds compared to the Agg's < 2%.¹
Delivered 226 bps excess return since JBND’s inception and 26bps more yield vs the Agg (as of 9/30/24).²
Tap into bonds beyond the Agg with JBND
Passive strategies tracking the Agg exclude half of the U.S. bond market. Active fixed income ETFs take you beyond the index, broadening opportunities and helping manage duration and credit risk, all while maintaining the daily liquidity and tax benefits of an ETF structure.
The Agg only captures 53% of the U.S. bond market
Source: Bloomberg, SIFMA. Figures reflect the most recently available data as of September 30, 2024. Some figures may be lagged.
JPMorgan Active Bond ETF (JBND)
Upgrade your core with an active ETF
- Yield to maturity (net): 4.49%1
- 30-day SEC yields: 4.46% (subsidized) and 4.47% (unsubsidized)1
- Competitive fee profile at 25 bps3
Must be preceded or accompanied by a prospectus
JBND Performance
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Related funds
1 Source: J.P. Morgan Asset Management; data as of 9/30/24.
2 See Performance table for latest month-end and quarter-end performance.
3 The Fund's management agreement provides that the adviser will pay substantially all expenses of the Fund, except for the management fees, payments under the Fund's 12b-1 plan (if any), interest expenses, dividend and interest expenses related to short sales, taxes, acquired fund fees and expenses (other than fees for funds advised by the adviser and/or its affiliates), costs of holding shareholder meetings, and litigation and potential litigation and other extraordinary expenses not incurred in the ordinary course of the Fund's business. The Fund shall be responsible for its non-operating expenses, including brokerage commissions and fees and expenses associated with the Fund's securities lending program, if applicable.
Diversification does not guarantee investment returns and does not eliminate the risk of loss. Diversification among investment options and asset classes may help to reduce overall volatility.
Yield definitions
30-day SEC Yield: Represents net investment income earned by a fund over a 30-day period, expressed as an annual percentage rate based on the fund's share price at the end of the 30-day period. The 30-day yield should be regarded as an estimate of investment income and may not equal the fund's actual income distribution rate.
30-day SEC Yield (unsubsidized): Unsubsidized yield does not adjust for any fee waivers and/or expense reimbursements.
Yield to maturity (YTM): is the estimated total return anticipated on a bond or other obligation if the obligation is held until maturity and if all payments are made as scheduled.
Gross YTM is calculated by averaging the YTM of each obligation held in the portfolio (including, if any, convertible bonds, preferred securities and derivatives) on a market weighted basis without the deduction of fees and expenses. Unlike SEC Yield, Gross YTM is a representation of the estimated total return of the bonds and other obligations held in the portfolio as of the month-end shown, whereas SEC Yield approximates the current income generated by the obligations held in the portfolio over a historical 30-day period after the deduction of fees and expenses. Unlike SEC Yield, Gross YTM takes into account derivatives. Gross YTM and SEC Yield are not a guarantee nor necessarily indicative of future performance or income generation.
Net YTM is calculated in the same way as Gross YTM except that Net YTM reflects the deduction of fund-level fees and expenses. Net YTM is not a guarantee nor necessarily indicative of future performance or income generation. Certain other funds may calculate YTM differently (e.g., certain other funds may include only certain types of derivatives in the calculation of YTM, whereas the YTM calculation for this fund includes all types of derivatives), and such differences could significantly impact the calculation of YTM, and therefore decrease comparability between YTM for this fund and YTM for other funds.
Fund risks
Investments in bonds and other debt securities will change in value based on changes in interest rates. If rates rise, the value of these investments generally drops.
Investments in asset-backed, mortgage-related and mortgage-backed securities are subject to certain risks including prepayment and call risks, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. During periods of difficult credit markets, significant changes in interest rates or deteriorating economic conditions, such securities may decline in value, face valuation difficulties, become more volatile and/or become illiquid.
The Bloomberg U.S. Aggregate Index is an unmanaged index representing SEC-registered taxable and dollar denominated securities. It covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through, and asset-backed securities.