JPMorgan Diversified Return International Currency Hedged ETF - ETF Shares - J.P. Morgan Asset Management
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JPMorgan Diversified Return International Currency Hedged ETF
(JPIH)

Designed To

Designed to provide core developed international equity exposure with potential for better risk-adjusted returns than a market cap-weighted index.

Approach

  • Tracks the FTSE Developed ex North America Diversified Factor 100% Hedged to USD Index
  • Utilizes a rules-based approach that combines risk-based portfolio construction with multi-factor security selection, including value, quality and momentum factors
  • Aims to diversify risk at the region, sector and stock levels while providing exposure to factors that have the potential to enhance returns
  • Attempts to minimize the impact of exchange rate fluctuations by hedging non-USD currency exposure

Portfolio

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Performance

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Fees and Minimums

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Documents

Management

Fund Managers

Disclaimer

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 dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation and extraordinary expenses) exceed 0.49% 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 2/29/2020, 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 Underlying Index has been developed to represent international stock performance with the foreign currency risk of the securities included in the Underlying Index hedged against the U.S. dollar on a monthly basis. The Underlying Index is comprised of equity securities from developed global markets (excluding North America) selected to represent a diversified set of factor characteristics, originally developed by the adviser. FTSE International Limited is the Index Provider. Holdings in the Underlying Index are selected by the Index Provider from the constituents of the FTSE Developed ex North America Index, a larger FTSE index, which is comprised of large- and mid-cap equity securities in developed markets outside of North America. The rules based proprietary multifactor selection process utilizes the following characteristics: relative valuation, price momentum, low volatility, and specific market capitalization. The equity securities in the Underlying Index will be diversified across international regions and industries. These securities will be large- and midcap equity securities of companies from developed countries, including common stock, preferred stock and real estate investment trusts (REITs).

The Underlying Index is comprised of equity securities from developed global markets (excluding North America)selected to represent a diversified set of factor characteristics, originally developed by the adviser. FTSE International Limited is the Index Provider. Holdings in the Underlying Index are selected from the constituents of the FTSE Developed ex North America Index, which is comprised of large- and mid-cap equity securities in developed markets outside of North America. The rules based proprietary multi-factor selection process utilizes the following characteristics: relative valuation, price momentum, low volatility, and specific market capitalization. The equity securities in the Underlying Index will be diversified across international regions and industries. These securities will be large- and mid-cap equity securities of companies from developed countries, including common stock, preferred stock and real estate investment trusts (REITs).

The FTSE Developed ex North America Index is part of a range of indices designed to help investors benchmark their international investments. The index comprises Large and Mid cap stocks providing coverage of Developed markets, excluding the US and Canada. The index is derived from the FTSE Global Equity Index Series (GEIS), which covers 98% of the world's investable market capitalization.

The S&P 500 Index is an unmanaged index generally representative of the performance of large companies in the U.S. stock market. Index levels are in total return USD.
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 has a greater degree of risk and increased volatility due to political and economic instability of some overseas markets. Changes in currency exchange rates and different accounting and taxation policies outside the U.S. can affect returns.

Narrowly focused investments typically exhibit higher volatility.

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.

The Fund and Underlying Fund may use derivatives, primarily foreign currency forward contracts in an attempt to minimize the impact of changes in the currency exposure of the Underlying Fund against the U.S. dollar. The return of the forward contracts may not perfectly offset fluctuations between foreign currencies and the U.S. dollar. To the extent the Fund's foreign currency forward contracts are not successful, the U.S. dollar value of an investment in the Fund may go down. Currency hedging may also limit potential gains if foreign currencies appreciate or remain unchanged. When foreign currencies appreciate or remain unchanged, an unhedged investment would outperform the Fund. Because the currency hedge is reset on a monthly basis, currency risk can develop intra-month.

All rights in the FTSE Index (the "Index") invest in FTSE International Limited ("FTSE"). "FTSE®" is a trade mark of the London Stock Exchange Group companies and is used by FTSE under licence. The Fund has been developed solely by J.P. Morgan. The Index is calculated by FTSE or its agent. FTSE and its licensors are not connected to and do not sponsor, advise, recommend, endorse or promote the Fund and do not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the Index or (b) investment in or operation of the Fund. FTSE makes no claim, prediction, warranty or representation either as to the results to be obtained from the Fund or the suitability of the Index for the purpose to which it is being put by J.P. Morgan.

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

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 redeemed directly from a fund by Authorized Participants, in very large creation/redemption units. For all products, brokerage commissions will reduce returns.
Holdings are subject to change.

Total return assumes reinvestment of income.

Average Life: The length of time the principal of a debt issue is expected to be outstanding.