Proxy Information
Proxy Overview
The Funds file their proxy voting record with the SEC on Form N-PX no later than August 31 of each year (or on the next filing date following August 31 if August 31 falls on a weekend or a day the SEC is closed). Following such filing, each Fund’s voting record for the most recent 12-month period ended June 30 is available, without charge, upon request, by calling 1-800-338-4345 or on the SEC’s website at www.sec.gov. You can access such information by following the links below. A Fund does not have the right to vote proxies for securities on loans over a record date of such proxies. However, if a Fund's Adviser has notice of the proxy in advance of the record date, the Fund's Adviser may terminate a loan in advance of the record date if the Fund's Adviser determines the vote is considered material with respect to an investment, such as when the Fund's Adviser believes that its participation in the vote is necessary to preserve the long-term value of the Fund's investment or in highly contested issues for which the Fund's Adviser believes its vote is important to the Fund's strategy. In determining whether a vote is material, the Adviser's determination is informed by its responsibility to act in a Fund's best interests. In most cases, the Adviser anticipates that the potential long-term value to a Fund of voting shares would not be material and would therefore not justify forgoing the potential revenue the loan may provide the Fund. This may result in proxies being voted by the borrower of the security in a way that would be contrary to how the Fund's Adviser would vote if the security had not been lent, including for certain Funds that have strategies to invest in companies that the Fund's Adviser believes are sustainable leaders based on the Adviser's sustainability criteria or that meet certain other Environmental, Social, or Governance (ESG) criteria. However, in certain instances, the Adviser may determine, in its independent business judgment, that the value of voting outweighs the securities lending revenue loss to a Fund and may therefore recall shares to be voted in those instances. You can also review a summary of the J.P. Morgan Funds' voting policy below and download a copy of the Global Proxy Voting Procedures and Guidelines.
JPMorgan Trust I 2025-2026 Proxy Votes >
JPMorgan Trust II 2025-2026 Proxy Votes >
JPMorgan Trust IV 2025-2026 Proxy Votes >
J.P. Morgan Exchange-Traded Fund Trust 2025-2026 Proxy Votes Part 1 >
J.P. Morgan Exchange-Traded Fund Trust 2025-2026 Proxy Votes Part 2 >
JPMorgan Mutual Fund Trust 2025-2026 Proxy Votes >
JPMorgan Fleming Mutual Fund Group Inc 2025-2026 Proxy Votes >
Undiscovered Managers Funds 2025-2026 Proxy Votes >
Proxy Voting Policy
Each investment adviser within the J.P. Morgan Asset Management group1, (each referred to individually as a "JPMAM Entity" and collectively as "JPMAM"), may be granted by its clients the authority to vote the proxies of the securities held in client portfolios. To ensure that the proxies are voted in the best interests of its clients, JPMAM has adopted detailed proxy voting procedures ("Procedures") that incorporate detailed proxy guidelines ("Guidelines") for voting proxies on specific types of issues. Each J.P. Morgan Fund, with the exception Undiscovered Managers Behavioral Value Fund, has granted its adviser the authority to vote proxies for the Funds in accordance with these Procedures and Guidelines. Undiscovered Managers Behavioral Value Fund vote proxies in accordance with the voting policies of their sub-advisers.
JPMAM currently has separate guidelines for each of the following regions: (1) North America, (2) Europe, Middle East, Africa, Central America and South America, (3) Asia ex-Japan and (4) Japan. As a general rule, in voting proxies of a particular security, each JPMAM Entity will apply the guidelines of the region in which the issuer of such security is organized.
To oversee and monitor the proxy-voting process, each JPMAM advisory entity has established a proxy committee and appointed a proxy administrator in each global location where proxies are voted. Each proxy committee will meet periodically to review general proxy-voting matters, review and approve the Guidelines annually, and provide advice and recommendations on general proxy-voting matters as well as on specific voting issues presented by the relevant JPMAM entity. The Procedures permit an independent proxy voting service to perform certain services otherwise carried out or coordinated by the proxy administrator.
Pursuant to the Procedures, most routine proxy matters will be voted in accordance with the Guidelines, which have been developed with the objective of encouraging corporate action that enhances shareholder value. Certain guidelines are prescriptive (“Prescribed Guidelines”), meaning that they specify how JPMAM will vote a particular proposal except where JPMAM, pursuant to its procedures, determines to vote in a manner contrary to its Prescribed Guidelines also known as an “Override”. Other guidelines contemplate voting on a case-by-case basis. In addition, there will undoubtedly be proxy matters that are not contemplated by the Guidelines. When there is an Override or where the proxy administrator determines that a vote requires further escalation to certain portfolio management teams (“Escalated Votes”), the procedures include a review and, for certain votes, an attestation. That process is designed to identify actual or potential material conflicts of interest and ensure that the proxy vote is cast in the best interests of clients.
A copy of the JPMAM Global Proxy Voting Guidelines, and the policies of the sub-advisors to Undiscovered Managers Behavioral Value Fund can be found below or upon request by contacting our Service Center at 1-800-480-4111.
Proxy Voting Procedures and Guidelines
Regional Sustainable Strategy Proxy Voting Guidelines
JPMorgan Sustainable Municipal Income ETF, and JPMorgan U.S. Sustainable Leaders Fund
Global Proxy Voting Procedures and Guidelines (2026 Edition) (62 pages)
Global proxy voting procedures and guidelines for North America, Europe, Middle East, Africa, Central America, South America and Asia.
Undiscovered Managers Behavioral Value Fund Proxy Voting Policies and Procedures (4 pages)
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF, JPMorgan BetaBuilders U.S. Equity ETF, and JPMorgan BetaBuilders U.S. Small Cap Equity ETF, Policies and Procedures for certain Bank Securities (1 page, and 79 pages)