JPMorgan Disciplined High Yield ETF - ETF Shares - J.P. Morgan Asset Management

JPMorgan Disciplined High Yield ETF

Income potential with high yield.

Through a rules-based approach to credit selection, JPMorgan Disciplined High Yield ETF aims to deliver higher risk-adjusted returns than passive indexing options.

Fund Story   Commentary  

Key Points

  • Experienced management team — each senior manager has more than 20 years’ experience navigating through multiple market cycles.
  • Applies rules-based screens that systematically exclude securities with unattractive risk/reward profiles.
  • Provides diversification within a multi-asset portfolio due to low correlation to other asset classes.

Chart source: Barclays, Bloomberg, FactSet, MSCI, Russell, Standard & Poor’s, J.P. Morgan Asset Management. Annualized return and volatility represents the period 12/31/05 - 12/31/16. Asset classes represented by following indices: Large cap: S&P 500, Small cap: Russell 2000, EM Equity: MSCI EME, DM Equity: MSCI EAFE, Commodities: Bloomberg Commodity Index, High Yield: Barclays US HY 2% Issuer Cap, Fixed Income: Barclays US Aggregate. For illustrative purposes only. Data as of 6/30/17. Past performance is not indicative of future results.


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Fees and Minimums

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Fund Managers


Please refer to the prospectus for additional information about cut-off times. Closing price is as of 4:00 PM (EST) and may not include after-hour trades.

Total return assumes reinvestment of income.

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, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation and extraordinary expenses) exceed 0.40% of the average daily net assets. 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. This waiver is in effect through 6/30/2021, at which time the adviser and/or its affiliates will determine whether to renew or revise it. The difference between net and gross fees includes all applicable fee waivers and expense reimbursements.

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

The BofA Merrill Lynch US High Yield Index tracks the performance of US dollar denominated below investment grade corporate debt publicly issued in the US domestic market.
The following risks could cause the fund to lose money or perform more poorly than other investments. For more complete risk information, see the prospectus.

International investing involves a greater degree of risk and increased volatility. Changes in currency exchange rates and differences in accounting and taxation policies outside the U.S. can raise or lower returns. Also, some overseas markets may not be as politically and economically stable as the United States and other nations. Emerging markets involve heightened risks related to the same factors as well as increased volatility and decreased trading volume.

Index returns and sector returns are for illustrative purposes only and do not represent actual Fund performance. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged. An individual cannot invest directly in an index.

Investing involves risk, including possible loss of principal. 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 their original cost. ETF shares are bought and sold throughout the day on an exchange at market price (not NAV) through a brokerage account, and are not individually redeemed from the fund. Shares may only be sold or redeemed directly from a fund by Authorized Participants, in very large creation/redemption units. For all products, brokerage commissions will reduce returns.

Diversification does not guarantee investment returns and does not eliminate the risk of loss.

Investments in smaller companies may be riskier, more volatile and more vulnerable to economic, market and industry changes.

Narrowly focused investments typically exhibit higher volatility.

Shares are bought and sold throughout the day on exchange at market price (not NAV) through a brokerage account, and are not individually redeemed from the fund. Shares may only be sold or redeemed directly from a fund by Authorized Participants, in very large creation/redemption units. Brokerage commissions will reduce returns.

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.

The value of investments in mortgage-related and asset-backed securities will be influenced by the factors affecting the housing market. They may decline in value, face valuation difficulties, become more volatile and/or become illiquid. They are also subject to prepayment risk. REITs are subject to the same risks as direct investments in real estate and mortgages, including default, prepayments, changes in interest rates, demand for real and rental property, and the management skill and creditworthiness of REIT issuers. The market value of a zero-coupon, pay-in-kind or deferred payment security is generally more volatile than other fixed income securities with similar maturities and credit quality that pay interest periodically. Privately placed securities generally are less liquid than publicly traded securities and the Fund may not always be able to sell such securities without experiencing delays in finding buyers or reducing the sale price for such securities.

Securities rated below investment grade are considered "high-yield," "non-investment grade," "below investment-grade," or "junk bonds." They generally are rated in the fifth or lower rating categories of Standard & Poor's and Moody's Investors Service. Although they can provide higher yields than higher rated securities, they can carry greater risk.
Holdings are subject to change.

Total return assumes reinvestment of income.