JPMorgan Diversified Return International Equity ETF - J.P. Morgan Asset Management


Which is why it helps you stay invested in international equities across market cycles. JPMorgan Diversified Return International Equity ETF combines the benefits of risk weighting and factor screening to dampen volatility and pursue better risk-adjusted returns. Raise your expectations. Invest in JPIN.

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“At a time when low volatility ETFs are increasingly popular with advisors and investors, JPIN is making good on reducing volatility.”

Tom Lydon, ETF Trends*

*Lydon, Tom. “A Smart Beta ETF For International Investors.” ETF Trends, 6th April 2016 The volatility of JPIN as measured by standard deviation based on weekly returns of 11.93 vs. FTSE Developed ex North America NR USD Index of 12.91. Source: Morningstar. Time period: 11/9/2014 - 9/30/2017.


Since its inception, JPIN has performed as designed, keeping pace with the market cap-weighted international index on the upside with less risk on the downside.

Source: Morningstar, J.P. Morgan Asset Management, as of 9/30/17. †ETF Inception date 11/5/2014. Since inception returns are annualized using daily returns; Volatility and Sharpe Ratios are calculated using weekly returns from 11/9/14 to 9/30/17. Market cap-weighted index refers to FTSE Developed ex North America NR USD index, daily returns.Chart represents growth of $100,000 since JPIN inception of 11/5/14. Performance quoted is past performance and is no guarantee of future results. Investment returns and principal value will fluctuate, so shares, when sold, may be worth more or less than original cost. Current performance may be higher or lower than returns shown. Call 1-844-4JPM-ETF for most recent month-end performance.

How the fund helps provide better risk-adjusted returns

Whereas traditional passively-managed funds allow market cap to dictate allocations, the strategic beta index seeks to minimize exposure to unrewarded sector risk concentrations, thereby avoiding over-concentration in regions and sectors that have historically had higher risk.

JPIN seeks to provide a better risk-adjusted return — resulting in lower risk on the downside — through a disciplined, two-part index methodology:

  • Portfolio construction: Strategically diversifies risk through a risk-weighting process that results in lower exposure to historically volatile regions and sectors.
  • Security selection: Screens stocks based on factors — including value, size, momentum and low volatility — that have historically driven strong performance. When these factors are combined, risk and return outcomes can be improved.

By tracking this index, JPIN aims to deliver a smoother experience for investors versus the comparable market cap-weighted index.

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As measured by down capture, which measures performance of the manager relative to the index in down markets. Source: Morningstar, J.P. Morgan Asset Management; based on weekly return data from 11/9/14 to 9/30/17. Cap-weighted index represented by FTSE Developed ex North America Net Index. For illustrative purposes only. Past performance does not guarantee future results.
AS OF 9/30/17
  1 YEAR 5 YEAR Since Inception2
Fund NAV1 12.69 n/a 6.58
Market Price Returns 12.58 n/a 6.69
Strategic Beta Index3 13.20 n/a 7.01
Market Cap-Weighted Index4 19.46 n/a 6.38
MSCI EAFC Index (net of foreign withholding taxes) 19.10 n/a 5.87
S&P 500 Index 18.61 n/a 10.16

AS OF 9/30/17
  Gross Expenses Net Expenses
  0.75 0.43

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 0.43% of the average daily net assets. This waiver is in effect through 02/29/2020, 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. Net expenses may include short dividend expense. See prospectus for details.

1Total return assumes reinvestment of income.

2Inception date 11/5/14.

3FTSE Developed ex-North America Diversified Factor Index (net of foreign withholding taxes).

4FTSE Developed ex-North America Net Index. Total Returns based on NAV and Market Price do not reflect brokerage commissions or sales charges in connection with the purchase or sale of Fund shares, which if included would lower the performance. The NAV used in the Total Return calculation assumes all management fees and operating expenses incurred by the Fund. A fund’s NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the fund was traded. ETFs are bought and sold at market price, and market price/returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. (when NAV is normally determined for most ETFs), and do not represent the returns an investor would receive if shares were traded at other times.

  • Investing involves risk, including possible loss of principal. Shares are bought and sold market price, and are not individually redeemed from a fund. Brokerage commissions will reduce returns.
  • 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.
  • Narrowly focused investments typically exhibit higher volatility
  • Emerging markets involve heightened risks related to the same factors as well as increased volatility and decreased trading volume.
  • A fund uses derivatives, which may be riskier than other types of investments and may increase the volatility of a fund.
  • A fund may not track the return of its underlying index for a number of reasons, such operating expenses incurred by a fund that are not applicable to an index, and the time difference between calculating the value of an index and the net asset value of a fund.
  • There is no guarantee the funds will meet their investment objective.
  • Diversification may not protect against market loss

Index returns are for illustrative purposes only. ETFs have fees that reduce their performance; indexes do not. You cannot invest directly in an index. All rights in the FTSE Indexes (the “Indexes”) vest in FTSE International Limited (“FTSE”). “FTSE®” is a trade mark of the London Stock Exchange Group companies and is used by FTSE under license. The Funds have been developed solely by J.P. Morgan. The Indexes are calculated by FTSE or its agent. FTSE and its licensors are not connected to and do not sponsor, advise, recommend, endorse or promote the Funds 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 Funds. FTSE makes no claim, prediction, warranty or representation either as to the results to be obtained from the Funds or the suitability of the Indexes for the purpose to which it is being put by J.P. Morgan.


©2017, Morningstar, Inc. All rights reserved. J.P. Morgan ETFs are distributed by JPMorgan Distribution Services, Inc., which is an affiliate of JPMorgan Chase & Co. Affiliates of JPMorgan Chase & Co. receive fees for providing various services to the funds. JPMorgan Distribution Services, Inc. is a member of FINRA/SIPC. J.P. Morgan Asset Management is the marketing name for the asset management businesses of JPMorgan Chase & Co. Those businesses include, but are not limited to, J.P. Morgan Investment Management Inc., Security Capital Research & Management Incorporated and J.P. Morgan Alternative Asset Management, Inc.