JMSI

JPMorgan Sustainable Municipal Income ETF

Morningstar Medalist Rating™

Silver

As of 01/31/2025

Analyst-Driven %: 55

Data Coverage %: 100

Category: Muni National Interm

Read Morningstar Medalist Rating disclosure

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NAV

As of 03/27/2025

$49.44

Change$-0.14

YTD

As of 03/27/2025

at NAV-0.63%

30 DAY SEC YIELD

As of 02/28/2025

3.43%

Unsub.3.08%

YIELD TO WORST

As of 02/28/2025

Gross3.69%

Net3.51%

Fund Facts

TickerJMSI

CUSIP46654Q815

Asset ClassFixed Income Tax Exempt

Predecessor Mutual Fund Inception Date02/09/1993

ETF Inception Date07/14/2023

ExchangeNYSE-Arca

ESG ApproachThematic

Fund Stats

NAV
As of 03/27/2025$49.44

NAV Change ($)
As of 03/27/2025$-0.14

NAV Change (%)
As of 03/27/2025-0.28%

Closing Price
As of 03/27/2025$49.54

Closing Price Change ($)
As of 03/27/2025$-0.12

Closing Price Change (%)
As of 03/27/2025-0.80%

Median Bid/Ask Spread
As of 03/27/20250.10%

Discount/Premium
As of 03/27/20250.20%

Market Price Returns
As of 03/27/2025-0.47%

YTD
As of 03/27/2025-0.63%

Daily High
As of 03/27/2025$49.59

Daily Low
As of 03/27/2025$49.51

Fund Assets
As of 03/27/2025$257.42mn

Shares Outstanding
As of 03/27/20255,206,783

Exchange Volume
As of 03/27/202573632

Number of Holdings
As of 03/27/2025192

30 Day SEC Yield
As of 02/28/20253.43%

30 Day SEC Yield Unsubsidized
As of 02/28/20253.08%

Yield to Maturity Gross
As of 08/31/20243.97%

Yield to Maturity Net
As of 08/31/20243.79%

12-Month Rolling Dividend Yield
As of 03/27/20253.65%

Dividend Yield
As of 02/28/20253.81%

Daily - 30 Day SEC Yield
As of 03/26/20253.60%

Daily - 30 Day SEC Yield Unsubsidized
As of 03/26/20253.30%

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.

Prior to close of business on 7/14/2023, the Fund operated as an open-end mutual fund. Market price returns are calculated using the official closing price of the Fund on the listing exchange as of the time that the Fund's NAV is calculated. Prior to the Fund's listing on 7/17/2023, the NAV performance of the Fund and the Class R6 Shares of the predecessor mutual fund are used as proxy market price returns. The Fund's market price returns have not been adjusted to reflect the lower expenses of the Fund than those of the predecessor mutual fund's Class R6 Shares. Had the predecessor mutual fund been structured as an exchange-traded fund, its performance may have differed. Please refer to the current prospectus for further information.

Prior to close of business on 7/14/2023, the Fund operated as an open-end mutual fund. The Fund has an identical investment objective and substantially similar investment strategies and investment risk profiles as the predecessor mutual fund. The NAV returns include returns of the Class R6 Shares of the predecessor mutual fund prior to the Fund's commencement of operations. Performance for the Fund's Shares has not been adjusted to reflect the Fund's Shares' lower expenses than those of the predecessor mutual fund's Class R6 Shares. Had the predecessor fund been structured as an exchange-traded fund, its performance may have differed. Please refer to the current prospectus for further information.

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.

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.

A rate of return measuring the total performance of a fund (coupon payments as well as capital gain or loss) from the current date until maturity of the instruments in the portfolio. This means that if the portfolio in its current form is held till maturity, then the return that an investor will get is equal to the Yield to Maturity (YTM) of the Portfolio. It however assumes that any flows (in the form of coupons/part of principal repayments) received before maturity are being reinvested at the YTM rate. If the reinvestment rate is lower, then the total return could be lower than YTM.

The 12-Month Rolling Dividend Yield represents the sum of the dividend yield (non-annualized) for the 12 most recent regularly declared income dividends as well as any special income distributions in the intervening period. Dividend yield (non-annualized) is calculated by dividing the dividend per share by the net asset value per share as of the relevant ex-dividend date.

Designed to deliver current income exempt from federal income taxes by investing in municipal bonds with use of proceeds that provide positive social or environmental benefits.

Invests in a core fixed income portfolio of municipal bonds
Offers exposure to securities whose use of proceeds aim to provide positive social or environmental benefits
Uses a value-oriented approach to investing in municipal securities
Conducts an extensive risk/reward analysis of factors such as income, interest rate risk, credit risk and the transaction's legal/technical structure

Portfolio Managers

Michelle Hallam

Portfolio Manager

26 years

In the industry

26 years

With J.P. Morgan

1 year

Managing this fund

Rachel Betton

Portfolio Manager

19 years

In the industry

2 years

With J.P. Morgan

1 year

Managing this fund

Curtis White

Portfolio Manager

32 years

In the industry

28 years

With J.P. Morgan

1 year

Managing this fund

Morningstar Ratings: Muni National Interm

As of 02/28/2025

Overall

259 Funds in Category

3 Year

259 Funds in Category

5 Year

240 Funds in Category

10 Year

173 Funds in Category

Overall Morningstar Rating^TM for a fund is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics.

Overall Morningstar RatingTM for a fund is derived from a weighted average of the performanc

Fund Facts

TickerJMSI

CUSIP46654Q815

Asset ClassFixed Income Tax Exempt

Predecessor Mutual Fund Inception Date02/09/1993

ETF Inception Date07/14/2023

ExchangeNYSE-Arca

ESG ApproachThematic

Fund Stats

NAV
As of 03/27/2025$49.44

NAV Change ($)
As of 03/27/2025$-0.14

NAV Change (%)
As of 03/27/2025-0.28%

Closing Price
As of 03/27/2025$49.54

Closing Price Change ($)
As of 03/27/2025$-0.12

Closing Price Change (%)
As of 03/27/2025-0.80%

Median Bid/Ask Spread
As of 03/27/20250.10%

Discount/Premium
As of 03/27/20250.20%

Market Price Returns
As of 03/27/2025-0.47%

YTD
As of 03/27/2025-0.63%

Daily High
As of 03/27/2025$49.59

Daily Low
As of 03/27/2025$49.51

Fund Assets
As of 03/27/2025$257.42mn

Shares Outstanding
As of 03/27/20255,206,783

Exchange Volume
As of 03/27/202573632

Number of Holdings
As of 03/27/2025192

30 Day SEC Yield
As of 02/28/20253.43%

30 Day SEC Yield Unsubsidized
As of 02/28/20253.08%

Yield to Maturity Gross
As of 08/31/20243.97%

Yield to Maturity Net
As of 08/31/20243.79%

12-Month Rolling Dividend Yield
As of 03/27/20253.65%

Dividend Yield
As of 02/28/20253.81%

Daily - 30 Day SEC Yield
As of 03/26/20253.60%

Daily - 30 Day SEC Yield Unsubsidized
As of 03/26/20253.30%

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.

Performance

Monthly

As of 02/28/2025

Cumulative

As of 02/28/2025

	1 Month	3 Months	YTD	1 Year	3 Years	5 Years	10 Years	15 Years	Since inception*
At NAV	0.99%	0.29%	1.30%	3.71%	1.11%	0.79%	1.94%	2.56%	3.70%
Market Price Returns	1.01%	0.39%	1.40%	3.97%	1.16%	0.82%	1.95%	2.57%	3.71%
Bloomberg US Municipal Index	0.99%	0.02%	1.50%	2.96%	0.99%	0.67%	2.33%	3.21%	-
Bloomberg U.S. 1-15 Year Blend (1-17) Municipal Bond Index	0.98%	0.65%	1.67%	2.86%	1.45%	0.91%	2.14%	2.80%	-

Performance may reflect the waiver of a portion of the Funds' advisory or administrative fees for certain periods since the inception date. If fees had not been waived, performance would have been less favorable.

^*Fund performance inception: 2/9/1993

YTD returns are as of the last business day of the month.

A fund's NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding.

The quoted performance of the Fund includes performance of a predecessor fund/share class prior to the Fund's commencement of operations. Please refer to the current prospectus for further information.

ETFs have fees that reduce their performance: indexes do not. You cannot invest directly in an index.

	1 Year	3 Years	5 Years	10 Years	15 Years	Since inception*
At NAV	3.71%	3.37%	4.02%	21.17%	46.02%	220.65%
Market Price Returns	3.97%	3.52%	4.16%	21.34%	46.22%	221.10%

^*Fund performance inception: 2/9/1993

YTD returns are as of the last business day of the month.

A fund's NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding.

ETFs have fees that reduce their performance: indexes do not. You cannot invest directly in an index.

The performance quoted is past performance and is not a guarantee of future results. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than original cost. Current performance may be higher or lower than the performance data shown. For performance current to the most recent month-end please call 1-844-4JPM-ETF.

^*Fund performance inception: 2/9/1993

YTD returns are as of the last business day of the month.

A fund's NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding.

ETFs have fees that reduce their performance: indexes do not. You cannot invest directly in an index.

Fees

Gross Expenses

0.52%

Net Expenses

0.18%

The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding Acquired Fund Fees and Expenses other than certain money market fund fees, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, costs of shareholder meetings, and extraordinary expenses) exceed 0.18% of the average daily net assets of the Fund. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser has contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the fees and expenses of the affiliated money market funds incurred by the Fund because of the Fund's investment in such money market funds. These waivers are in effect through 7/31/2026, at which time it will be determined whether such waivers will be renewed or revised. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund's investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.

Dividend Schedule

This class has no distributed dividends.

Capital Gains Schedule

This class has no distributed capital gains.

Documents

Presentation: JPMorgan Sustainable Municipal Income ETF

Factsheet: JPMorgan Sustainable Municipal Income ETF

Holdings are subject to chan

Holdings are subject to change.

For more information on variable fees associated with creations and redemption of certain fund shares, call 1-844-4JPM-ETF.

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.

Some investors may be subject to the Federal Alternative Minimum Tax and to certain state and local taxes.

Investing on the basis of sustainability/ESG criteria involves qualitative and subjective analysis. There is no guarantee that the determinations made by the adviser will align with the beliefs or values of a particular investor. Companies identified by an ESG policy may not operate as expected, and adhering to an ESG policy may result in missed opportunities.

Information shown for periods prior to close of business on 7/14/2023 includes information for the predecessor mutual fund for information at the fund level, including dividend information the predecessor mutual fund's Class R6 Shares.

For some investors, income may be subject to the Alternative Minimum Tax. Capital gains, if any, are federally taxable. Income may be subject to state and local taxes.

The Bloomberg US Municipal Index is a total return performance benchmark for the long-term, investment-grade tax-exempt bond market.

The Bloomberg U.S. 1-15 Year Blend (1-17) Municipal Bond Index represents the performance of municipal bonds with maturities from 1 to 17 years.

Investors should carefully consider the investment objectives and risks as well as charges and expenses of the JPMorgan ETF before investing. The summary and full prospectuses contain this and other information about the ETF. Read the prospectus carefully before investing. Call 1-844-4JPM-ETF or visit www.jpmorganETFs.com to obtain a prospectus.

The Morningstar Rating^TM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10- year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Rankings do not take sales loads into account.

30-day SEC Yield (unsubsidized): Unsubsidized yield does not adjust for any fee waivers and/or expense reimbursements.

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JPMorgan Sustainable Municipal Income ETF

Fund Facts

Fund Stats

Designed to deliver current income exempt from federal income taxes by investing in municipal bonds with use of proceeds that provide positive social or environmental benefits.

Portfolio Managers

Morningstar Ratings: Muni National Interm

Fund Facts

Fund Stats

Performance

Performance - MONTHLY

Performance - CUMULATIVE

Looking Ahead

Fees

Dividend Schedule

Capital Gains Schedule

Documents