# Product Facts - JPMorgan Active Value ETF > Audience: country=us, language=en, role=adv. > Generated: 2026-10-01T22:48:23.155125139Z. ## Identity - **Fund Name**: JPMorgan Active Value ETF - **Share Class Name**: JPMorgan Active Value ETF - **Product Page**: [Product Page](https://am.jpmorgan.com/us/en/asset-management/adv/products/jpmorgan-active-value-etf-etf-shares-46641q167) - **Ticker**: JAVA - **CUSIP**: 46641Q167 - **Fund Type**: ETF - **Asset Class**: U.S. Equity - **Fund Inception Date**: 10/04/2021 - **Investment Objective**: The Fund seeks to provide long-term capital appreciation. ## Fund Facts - **Ticker**: JAVA - **CUSIP**: 46641Q167 - **Asset Class**: U.S. Equity - **Fund Inception Date**: 10/04/2021 - **Exchange**: NYSE-Arca - **ESG Approach**: Integrated [Disclosure 1] ## Fund Stats - **NAV As of 09/30/2026**: $79.67 - **NAV Change ($) As of 09/30/2026**: $-0.38 - **NAV Change (%) As of 09/30/2026**: -0.48% - **Closing Price As of 09/30/2026**: $79.72 - **Closing Price Change ($) As of 09/30/2026**: $-0.38 - **Closing Price Change (%) As of 09/30/2026**: -0.49% - **Discount/Premium As of 09/30/2026**: 0.06% - **Median Bid/Ask Spread As of 09/30/2026**: 0.01% [Disclosure 2] - **Daily High As of 09/30/2026**: $80.41 - **Daily Low As of 09/30/2026**: $79.70 - **30 Day SEC Yield As of 08/31/2026**: 1.06% - **30 Day SEC Yield Unsubsidized As of 08/31/2026**: 1.06% - **Dividend Yield As of 08/31/2026**: 1.15% - **12-Month Rolling Dividend Yield As of 09/30/2026**: 1.25% - **Daily - 30 Day SEC Yield As of 09/30/2026**: 1.13% - **Daily - 30 Day SEC Yield Unsubsidized As of 09/30/2026**: 1.13% - **Fund Assets As of 09/30/2026**: $7.01bn - **Shares Outstanding As of 09/30/2026**: 88,050,000 - **Exchange Volume As of 09/30/2026**: 944475 [Disclosure 3] - **Number of Holdings As of 09/30/2026**: 156 - **YTD As of 09/30/2026**: 11.99% - **Market Price Returns As of 09/30/2026**: 12.09% ## Portfolio Managers ### Scott Blasdell - **In the industry**: 32 years - **With J.P. Morgan**: 27 years - **Managing this fund**: 5 years ### Andrew Brandon - **In the industry**: 28 years - **With J.P. Morgan**: 26 years - **Managing this fund**: 5 years ### David Silberman - **In the industry**: 37 years - **With J.P. Morgan**: 37 years - **Managing this fund**: 5 years ### John Piccard - **In the industry**: 34 years - **With J.P. Morgan**: 12 years - **Managing this fund**: 1 year ## Commentary **As of **: 06/30/2026 ### Topline Benchmark Russell 1000 Value Index Markets The S&P 500 Index gained 15.20% in the second quarter of 2026. Within the index, information technology and industrials were the best performing sectors, returning 31.79% and 14.88%, respectively, while energy and utilities were the worst performing sectors, returning -13.45% and -0.53%, respectively. Hurt Stock selection in technology detracted from performance. Helped Stock selection in industrials contributed to portfolio results. Outlook The U.S. equity market remains constructive amid evolving macroeconomic and geopolitical conditions. Continued strength in corporate earnings, coupled with robust AI-related investment, continues to support the outlook for equities. However, narrow market leadership and heightened return dispersion reinforce the case for active stock selection. We remain focused on high-conviction stocks and seek to take advantage of market dislocations for compelling stock selection opportunities. ### Quarter in Review The JPMorgan Active Value portfolio (JAVA) underperformed the benchmark, the Russell 1000 Value Index, for the quarter ending June 30, 2026. Within technology, underperformance was largely driven by an underweight to the highest-beta pockets of the AI trade within technology, such as Micron, as the stock rose more than 230%. Enthusiasm was fueled by AI-driven demand and emerging bottlenecks in memory, while hyperscaler CapEx continued to climb. Micron’s surge lifted it to ~3% of the index (second-largest benchmark weight), but we maintained modest exposure given its cyclical earnings and lofty expectations. We trimmed Micron at the end of the quarter, as it moved from the Russell 1000 Value Index to the Russell 1000 Growth Index after the June 26th Russell rebalance. Industrials served as a bright spot during the quarter, finishing as the second-best-performing sector. Corning was a top contributor, as surging AI-related data center spending drove strong earnings, optical revenue growth and a new strategic partnership with NVIDIA. We trimmed on strength but remain constructive, as demand for the fiber and optical connectivity underpinning the AI build-out continues to accelerate. ### Looking Ahead We believe wide valuation spreads and robust and improving earnings breadth provide a constructive backdrop for alpha generation Quality AI at reasonable valuations: We’ve initiated a company, the market leader in accelerated computing with a large developer software ecosystem, which we believe will benefit from a dominant position in AI infrastructure, robust hyperscaler demand and attractive earnings growth supported by a growing compute ecosystem. Health care: Managed care specifically presents an interesting opportunity, as the broader backdrop is more favorable on the underwriting cycle, valuations are undemanding, and there's a component of improving execution. ## Documents - [Factsheet: JPMorgan Active Value ETF](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/fact-sheet/etfs/FS-JAVA.PDF) - [Fund Story: Active Value ETF (JAVA)](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/fund-story/STO-JAVA.pdf) - [Commentary: Active Value ETF (JAVA)](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/commentary/FC-JAVA.PDF) - [ETF Dividend Calendar 2026](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/income-distribution-rates/jpmorgan-etfs-2026-distribution-notice.pdf) - [Summary Prospectus](https://am.jpmorgan.com/JPMorgan/TVT/46641Q167/SP?site=JPMorganv3) - [Prospectus](https://am.jpmorgan.com/JPMorgan/TVT/46641Q167/P?site=JPMorganv3) - [Annual Report to Shareholders](https://am.jpmorgan.com/JPMorgan/TVT/46641Q167/AR?site=JPMorganv3) - [Annual Financial Statements and Other Information](https://am.jpmorgan.com/JPMorgan/TVT/46641Q167/NCSR?site=JPMorganv3) - [Semi-Annual Report to Shareholders](https://am.jpmorgan.com/JPMorgan/TVT/46641Q167/SAR?site=JPMorganv3) - [Semi-Annual Financial Statements and Other Information](https://am.jpmorgan.com/JPMorgan/TVT/46641Q167/NCSRS?site=JPMorganv3) - [First Quarter Holding](https://am.jpmorgan.com/JPMorgan/TVT/46641Q167/QH1?site=JPMorganv3) - [Third Quarter Holding](https://am.jpmorgan.com/JPMorgan/TVT/46641Q167/QH3?site=JPMorganv3) - [Statement of Additional Information](https://am.jpmorgan.com/JPMorgan/TVT/46641Q167/S?site=JPMorganv3) - [Annual Report Of Proxy Voting](https://am.jpmorgan.com/JPMorgan/TVT/46641Q167/NPX?site=JPMorganv3) ## Disclosures 1. This Fund considers financially material environmental, social and governance ("ESG") factors as part of the Fund's investment process. In actively managed assets deemed by J.P. Morgan Asset Management to be ESG integrated under our governance process, we systematically assess financially material ESG factors amongst other factors in our investment decisions with the goals of managing risk and improving long-term returns. ESG integration does not change a strategy's investment objective, exclude specific types of companies or constrain a strategy's investable universe. 2. The median bid-ask spread is calculated by identifying national best bid and national best offer ("NBBO") for each Fund as of the end of each 10 second interval during each trading day of the last 30 calendar days, or since the listing date of each Fund if shorter, and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and posted on each business day. 3. The number of shares or contracts traded in a security or an entire market during a given period of time. Each transaction between a buyer and seller contributes to the count of total volume.