UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-22903
J.P. Morgan Exchange-Traded Fund Trust
(Exact name of registrant as specified in charter)
277 Park Avenue
New York, NY 10172
(Address of principal executive offices) (Zip code)
Gregory S. Samuels
J.P. Morgan Investment Management Inc.
277 Park Avenue
New York, NY 10172
(Name and Address of Agent for Service)
With copies to:
Elizabeth A. Davin, Esq. | Jon S. Rand, Esq. | |
JPMorgan Chase & Co. | Dechert LLP | |
1111 Polaris Parkway | 1095 Avenue of the Americas | |
Columbus, OH 43240 | New York, NY 10036 |
Registrant’s telephone number, including area code: 1-844-457-6383
Date of fiscal year end: October 31
Date of reporting period: November 1, 2022 through April 30, 2023
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. Section 3507.
ITEM 1. REPORTS TO STOCKHOLDERS.
a.) The following is a copy of the report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1).
b.) A copy of the notice transmitted to shareholders in reliance on Rule 30e-3 under the 1940 Act that contains disclosures specified by paragraph (c)(3) of that rule is included in the Annual Reports. Not Applicable. Notices do not incorporate disclosures from the shareholder report.
Fund | Ticker | Listing Exchange |
JPMorgan BetaBuilders Canada ETF | BBCA | Cboe BZX Exchange, Inc. |
JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF | BBAX | Cboe BZX Exchange, Inc. |
JPMorgan BetaBuilders Europe ETF | BBEU | Cboe BZX Exchange, Inc. |
JPMorgan BetaBuilders International Equity ETF | BBIN | Cboe BZX Exchange, Inc. |
JPMorgan BetaBuilders Japan ETF | BBJP | Cboe BZX Exchange, Inc. |
JPMorgan BetaBuilders U.S. Equity ETF | BBUS | Cboe BZX Exchange, Inc. |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | BBMC | NYSE Arca |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF | BBSC | NYSE Arca |
JPMorgan Carbon Transition U.S. Equity ETF | JCTR | NYSE Arca |
JPMorgan Diversified Return Emerging Markets Equity ETF | JPEM | NYSE Arca |
JPMorgan Diversified Return International Equity ETF | JPIN | NYSE Arca |
JPMorgan Diversified Return U.S. Equity ETF | JPUS | NYSE Arca |
JPMorgan Diversified Return U.S. Mid Cap Equity ETF | JPME | NYSE Arca |
JPMorgan Diversified Return U.S. Small Cap Equity ETF | JPSE | NYSE Arca |
JPMorgan U.S. Momentum Factor ETF | JMOM | NYSE Arca |
JPMorgan U.S. Quality Factor ETF | JQUA | NYSE Arca |
JPMorgan U.S. Value Factor ETF | JVAL | NYSE Arca |
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Past performance is no guarantee of future performance. The general market views expressed in this report are opinions based on market and other conditions through the end of the reporting period and are subject to change without notice. These views are not intended to predict the future performance of a Fund or the securities markets.
Prospective investors should refer to the Funds’ prospectuses for a discussion of the Funds’ investment objectives, strategies and risks. Call J.P. Morgan Exchange-Traded Funds at (844) 457-6383 for a prospectus containing more complete information about a Fund, including management fees and other expenses. Please read it carefully before investing.
Shares are bought and sold throughout the day on an exchange at market price (not at net asset value) through a brokerage account, and are not individually subscribed and redeemed from a Fund. Shares may only be subscribed and redeemed directly from a Fund by Authorized Participants, in very large creation/redemption units. Brokerage commissions will reduce returns.
June 15, 2023 (Unaudited)
“While the effects of rising interest rates is likely to adversely impact economic growth in the months ahead, other factors may aid the global economic outlook, as energy prices have trended downward in recent months and the re-opening of China’s economy may provide support for increased global trade.” — Brian S. Shlissel |
President, J.P. Morgan Exchange-Traded Funds
J.P. Morgan Asset Management
1-844-4JPM-ETF or jpmorgan.com/etfs for more information
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 1 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
2 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | 8.39% |
Market Price ** | 8.40% |
Morningstar® Canada Target Market Exposure IndexSM (net total return) | 8.38% |
Net Assets as of 4/30/2023 | $6,180,919,077 |
Fund Ticker | BBCA |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Royal Bank of Canada (Canada) | 7.0 % |
2. | Toronto-Dominion Bank (The) (Canada) | 5.6 |
3. | Enbridge, Inc. (Canada) | 4.1 |
4. | Canadian Pacific Kansas City Ltd. (Canada) | 3.8 |
5. | Canadian National Railway Co. (Canada) | 3.7 |
6. | Canadian Natural Resources Ltd. (Canada) | 3.5 |
7. | Bank of Montreal (Canada) | 3.3 |
8. | Bank of Nova Scotia (The) (Canada) | 3.0 |
9. | Shopify, Inc., Class A (Canada) | 3.0 |
10. | Brookfield Corp. (Canada) | 2.4 |
PORTFOLIO COMPOSITION BY SECTOR AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
Financials | 32.2% |
Energy | 16.5 |
Industrials | 13.3 |
Materials | 10.8 |
Information Technology | 6.6 |
Consumer Staples | 4.3 |
Consumer Discretionary | 3.4 |
Utilities | 3.1 |
Communication Services | 2.4 |
Others (each less than 1.0%) | 0.6 |
Short-Term Investments | 6.8 |
3 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
4 |
INCEPTION DATE | SIX MONTHS* | 1 YEAR | SINCE INCEPTION | |
JPMorgan BetaBuilders Canada ETF | ||||
Net Asset Value | August 7, 2018 | 8.39 % | (2.57 )% | 7.33 % |
Market Price | 8.40 | (2.55 ) | 7.35 |
* | Not annualized. |
5 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | 17.63% |
Market Price ** | 17.84% |
Morningstar® Developed Asia Pacific ex-Japan Target Market Exposure IndexSM (net total return) | 17.02% |
Net Assets as of 4/30/2023 | $4,442,195,795 |
Fund Ticker | BBAX |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | BHP Group Ltd. (Australia) | 8.2 % |
2. | AIA Group Ltd. (Hong Kong) | 6.9 |
3. | Commonwealth Bank of Australia (Australia) | 6.1 |
4. | CSL Ltd. | 5.2 |
5. | National Australia Bank Ltd. (Australia) | 3.3 |
6. | Westpac Banking Corp. (Australia) | 2.9 |
7. | Hong Kong Exchanges & Clearing Ltd. (Hong Kong) | 2.7 |
8. | ANZ Group Holdings Ltd. (Australia) | 2.6 |
9. | DBS Group Holdings Ltd. (Singapore) | 2.5 |
10. | Macquarie Group Ltd. (Australia) | 2.4 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
Australia | 58.2% |
Hong Kong | 19.2 |
Singapore | 10.6 |
United States | 5.7 |
China | 2.3 |
New Zealand | 1.8 |
Macau | 1.2 |
United Kingdom | 1.0 |
Short-Term Investments | 0.0**** |
6 |
7 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
INCEPTION DATE | SIX MONTHS* | 1 YEAR | SINCE INCEPTION | |
JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF | ||||
Net Asset Value | August 7, 2018 | 17.63 % | 0.14 % | 3.84 % |
Market Price | 17.84 | 0.52 | 3.89 |
* | Not annualized. |
8 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | 28.48% |
Market Price ** | 28.47% |
Morningstar® Developed Europe Target Market Exposure IndexSM (net total return) | 28.21% |
Net Assets as of 4/30/2023 | $9,629,163,149 |
Fund Ticker | BBEU |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Nestle SA (Registered) | 3.2 % |
2. | Novo Nordisk A/S, Class B (Denmark) | 2.5 |
3. | ASML Holding NV (Netherlands) | 2.3 |
4. | LVMH Moet Hennessy Louis Vuitton SE (France) | 2.3 |
5. | Novartis AG (Registered) (Switzerland) | 2.2 |
6. | AstraZeneca plc (United Kingdom) | 2.1 |
7. | Roche Holding AG | 2.0 |
8. | Shell plc (Netherlands) | 2.0 |
9. | TotalEnergies SE (France) | 1.4 |
10. | SAP SE (Germany) | 1.3 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
United Kingdom | 17.5% |
France | 15.2 |
Germany | 11.7 |
United States | 9.8 |
Switzerland | 8.7 |
Netherlands | 7.4 |
Sweden | 4.9 |
Denmark | 4.4 |
Spain | 3.7 |
Italy | 3.4 |
Finland | 1.8 |
Australia | 1.5 |
Belgium | 1.4 |
Norway | 1.0 |
Others (each less than 1.0%) | 4.2 |
Short-Term Investments | 3.4 |
9 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
10 |
INCEPTION DATE | SIX MONTHS* | 1 YEAR | SINCE INCEPTION | |
JPMorgan BetaBuilders Europe ETF | ||||
Net Asset Value | June 15, 2018 | 28.48 % | 13.28 % | 5.47 % |
Market Price | 28.47 | 13.75 | 5.48 |
* | Not annualized. |
11 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | 24.43% |
Market Price ** | 24.46% |
Morningstar® Developed Markets ex-North America Target Market Exposure IndexSM (net total return) | 23.95% |
Net Assets as of 4/30/2023 | $3,540,096,128 |
Fund Ticker | BBIN |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Nestle SA (Registered) | 2.1 % |
2. | Novo Nordisk A/S, Class B (Denmark) | 1.6 |
3. | ASML Holding NV (Netherlands) | 1.5 |
4. | LVMH Moet Hennessy Louis Vuitton SE (France) | 1.5 |
5. | Novartis AG (Registered) (Switzerland) | 1.5 |
6. | AstraZeneca plc (United Kingdom) | 1.4 |
7. | Roche Holding AG | 1.3 |
8. | Shell plc (Netherlands) | 1.3 |
9. | Toyota Motor Corp. (Japan) | 1.0 |
10. | BHP Group Ltd. (Australia) | 0.9 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
Japan | 22.3% |
United Kingdom | 11.7 |
France | 10.0 |
Germany | 7.7 |
Australia | 7.4 |
United States | 7.1 |
Switzerland | 5.7 |
Netherlands | 4.9 |
Sweden | 3.2 |
Denmark | 2.9 |
Spain | 2.5 |
Hong Kong | 2.4 |
Italy | 2.2 |
Singapore | 1.3 |
Finland | 1.2 |
Belgium | 1.0 |
Others (each less than 1.0%) | 3.9 |
Short-Term Investments | 2.6 |
12 |
13 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
INCEPTION DATE | SIX MONTHS* | 1 YEAR | SINCE INCEPTION | |
JPMorgan BetaBuilders International Equity ETF | ||||
Net Asset Value | December 3, 2019 | 24.43 % | 9.64 % | 5.58 % |
Market Price | 24.46 | 10.06 | 5.60 |
* | Not annualized. |
14 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | 17.68% |
Market Price ** | 18.21% |
Morningstar® Japan Target Market Exposure IndexSM (net total return) | 17.08% |
Net Assets as of 4/30/2023 | $7,449,793,313 |
Fund Ticker | BBJP |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Toyota Motor Corp. (Japan) | 4.6 % |
2. | Sony Group Corp. (Japan) | 3.1 |
3. | Keyence Corp. (Japan) | 2.4 |
4. | Mitsubishi UFJ Financial Group, Inc. (Japan) | 2.0 |
5. | Daiichi Sankyo Co. Ltd. (Japan) | 1.8 |
6. | Shin-Etsu Chemical Co. Ltd. (Japan) | 1.5 |
7. | Sumitomo Mitsui Financial Group, Inc. (Japan) | 1.5 |
8. | Mitsubishi Corp. (Japan) | 1.5 |
9. | Tokyo Electron Ltd. (Japan) | 1.4 |
10. | Daikin Industries Ltd. (Japan) | 1.4 |
PORTFOLIO COMPOSITION BY SECTOR AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
Industrials | 23.4% |
Consumer Discretionary | 18.6 |
Information Technology | 12.7 |
Financials | 11.0 |
Health Care | 9.4 |
Communication Services | 7.1 |
Consumer Staples | 7.1 |
Materials | 5.0 |
Real Estate | 3.6 |
Others (each less than 1.0%) | 1.6 |
Short-Term Investments | 0.5 |
15 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
16 |
INCEPTION DATE | SIX MONTHS* | 1 YEAR | SINCE INCEPTION | |
JPMorgan BetaBuilders Japan ETF | ||||
Net Asset Value | June 15, 2018 | 17.68 % | 5.28 % | 1.22 % |
Market Price | 18.21 | 5.74 | 1.33 |
* | Not annualized. |
17 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | 8.36% |
Market Price ** | 8.22% |
Morningstar® US Target Market Exposure IndexSM | 8.37% |
Net Assets as of 4/30/2023 | $1,528,239,230 |
Fund Ticker | BBUS |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Apple, Inc. | 6.9 % |
2. | Microsoft Corp. | 6.3 |
3. | Amazon.com, Inc. | 2.6 |
4. | NVIDIA Corp. | 1.9 |
5. | Alphabet, Inc., Class A | 1.8 |
6. | Berkshire Hathaway, Inc., Class B | 1.6 |
7. | Alphabet, Inc., Class C | 1.5 |
8. | Meta Platforms, Inc., Class A | 1.5 |
9. | Exxon Mobil Corp. | 1.3 |
10. | UnitedHealth Group, Inc. | 1.3 |
PORTFOLIO COMPOSITION BY SECTOR AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
Information Technology | 25.9% |
Health Care | 14.2 |
Financials | 13.1 |
Consumer Discretionary | 9.9 |
Industrials | 8.6 |
Communication Services | 8.1 |
Consumer Staples | 7.1 |
Energy | 4.7 |
Utilities | 2.9 |
Real Estate | 2.5 |
Materials | 2.5 |
Short-Term Investments | 0.5 |
18 |
19 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
INCEPTION DATE | SIX MONTHS* | 1 YEAR | SINCE INCEPTION | |
JPMorgan BetaBuilders U.S. Equity ETF | ||||
Net Asset Value | March 12, 2019 | 8.36 % | 1.90 % | 11.73 % |
Market Price | 8.22 | 1.83 | 11.71 |
* | Not annualized. |
20 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | 1.61% |
Market Price ** | 1.78% |
Morningstar® US Mid Cap Target Market Exposure Extended IndexSM | 1.56% |
Net Assets as of 4/30/2023 | $1,587,844,608 |
Fund Ticker | BBMC |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Fair Isaac Corp. | 0.6 % |
2. | Liberty Media Corp.-Liberty Formula One, Class C | 0.5 |
3. | Reliance Steel & Aluminum Co. | 0.5 |
4. | Axon Enterprise, Inc. | 0.5 |
5. | Builders FirstSource, Inc. | 0.4 |
6. | Ares Management Corp. | 0.4 |
7. | Gaming and Leisure Properties, Inc. | 0.4 |
8. | Graco, Inc. | 0.4 |
9. | Deckers Outdoor Corp. | 0.4 |
10. | First Citizens BancShares, Inc., Class A | 0.4 |
PORTFOLIO COMPOSITION BY SECTOR AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
Industrials | 18.6% |
Consumer Discretionary | 12.9 |
Financials | 12.9 |
Health Care | 10.9 |
Information Technology | 10.3 |
Real Estate | 7.3 |
Materials | 5.4 |
Energy | 3.8 |
Consumer Staples | 3.4 |
Communication Services | 2.7 |
Utilities | 2.5 |
Short-Term Investments | 9.3 |
21 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
22 |
INCEPTION DATE | SIX MONTHS* | 1 YEAR | SINCE INCEPTION | |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | ||||
Net Asset Value | April 14, 2020 | 1.61 % | (2.89 )% | 14.76 % |
Market Price | 1.78 | (2.82 ) | 14.75 |
* | Not annualized. |
23 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | (2.29)% |
Market Price ** | (1.84)% |
Morningstar® US Small Cap Target Market Exposure Extended IndexSM | (2.28)% |
Net Assets as of 4/30/2023 | $695,988,969 |
Fund Ticker | BBSC |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Prometheus Biosciences, Inc. | 0.5 % |
2. | ATI, Inc. | 0.4 |
3. | Academy Sports & Outdoors, Inc. | 0.4 |
4. | Super Micro Computer, Inc. | 0.4 |
5. | Triton International Ltd. (Bermuda) | 0.4 |
6. | Rambus, Inc. | 0.3 |
7. | elf Beauty, Inc. | 0.3 |
8. | Meritage Homes Corp. | 0.3 |
9. | Taylor Morrison Home Corp. | 0.3 |
10. | World Wrestling Entertainment, Inc., Class A | 0.3 |
PORTFOLIO COMPOSITION BY SECTOR AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
Financials | 15.7% |
Industrials | 15.1 |
Health Care | 14.6 |
Information Technology | 11.4 |
Consumer Discretionary | 11.0 |
Real Estate | 4.9 |
Energy | 4.8 |
Materials | 4.2 |
Consumer Staples | 4.1 |
Communication Services | 2.5 |
Utilities | 1.6 |
Short-Term Investments | 10.1 |
24 |
25 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
INCEPTION DATE | SIX MONTHS* | 1 YEAR | SINCE INCEPTION | |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF | ||||
Net Asset Value | November 16, 2020 | (2.29 )% | (2.56 )% | 2.55 % |
Market Price | (1.84 ) | (2.53 ) | 2.52 |
* | Not annualized. |
26 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | 8.01% |
Market Price ** | 7.94% |
JPMorgan Asset Management Carbon Transition U.S. Equity Index | 8.09% |
Russell 1000 Index | 8.01% |
Net Assets as of 4/30/2023 | $22,458,558 |
Fund Ticker | JCTR |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Apple, Inc. | 7.0 % |
2. | Microsoft Corp. | 5.8 |
3. | Alphabet, Inc., Class A | 2.9 |
4. | Amazon.com, Inc. | 2.2 |
5. | NVIDIA Corp. | 2.1 |
6. | Exxon Mobil Corp. | 1.6 |
7. | UnitedHealth Group, Inc. | 1.5 |
8. | Johnson & Johnson | 1.4 |
9. | Tesla, Inc. | 1.4 |
10. | Procter & Gamble Co. (The) | 1.3 |
PORTFOLIO COMPOSITION BY SECTOR AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
Information Technology | 26.6% |
Financials | 14.7 |
Health Care | 14.6 |
Consumer Discretionary | 10.4 |
Communication Services | 7.9 |
Industrials | 7.6 |
Consumer Staples | 6.0 |
Energy | 4.4 |
Real Estate | 2.9 |
Utilities | 2.5 |
Materials | 2.3 |
Short-Term Investments | 0.1 |
27 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
28 |
INCEPTION DATE | SIX MONTHS* | 1 YEAR | SINCE INCEPTION | |
JPMorgan Carbon Transition U.S. Equity ETF | ||||
Net Asset Value | December 9, 2020 | 8.01 % | 2.62 % | 6.99 % |
Market Price | 7.94 | 2.66 | 6.97 |
* | Not annualized. |
29 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | 13.36% |
Market Price ** | 13.35% |
JP Morgan Diversified Factor Emerging Markets Equity Index (net total return) | 13.51% |
FTSE Emerging Index (net total return) | 15.23% |
Net Assets as of 4/30/2023 | $281,698,753 |
Fund Ticker | JPEM |
30 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Infosys Ltd. (India) | 1.4 % |
2. | Vale SA (Brazil) | 1.3 |
3. | Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) | 1.2 |
4. | Hindustan Unilever Ltd. (India) | 1.0 |
5. | Grupo Financiero Banorte SAB de CV, Class O (Mexico) | 0.9 |
6. | Bank of China Ltd., Class H (China) | 0.9 |
7. | America Movil SAB de CV (Mexico) | 0.9 |
8. | Tata Consultancy Services Ltd. (India) | 0.8 |
9. | Petroleo Brasileiro SA (Preference) (Brazil) | 0.8 |
10. | Wal-Mart de Mexico SAB de CV (Mexico) | 0.8 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
China | 25.5% |
Taiwan | 11.9 |
India | 10.2 |
Brazil | 8.9 |
Turkey | 8.0 |
Mexico | 7.2 |
Saudi Arabia | 4.7 |
South Africa | 4.0 |
Indonesia | 3.7 |
Thailand | 3.2 |
United Arab Emirates | 2.3 |
Malaysia | 2.0 |
Kuwait | 1.9 |
Qatar | 1.7 |
Chile | 1.4 |
Greece | 1.2 |
Others (each less than 1.0%) | 2.2 |
Short-Term Investments | 0.0**** |
31 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
INCEPTION DATE | SIX MONTHS* | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
JPMorgan Diversified Return Emerging Markets Equity ETF | |||||
Net Asset Value | January 7, 2015 | 13.36 % | 0.52 % | 1.00 % | 3.39 % |
Market Price | 13.35 | 1.54 | 1.09 | 3.46 |
* | Not annualized. |
32 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | 21.62% |
Market Price ** | 21.62% |
JP Morgan Diversified Factor International Equity Index (net total return) | 21.34% |
FTSE Developed ex North America Index (net total return) | 23.47% |
Net Assets as of 4/30/2023 | $814,971,993 |
Fund Ticker | JPIN |
33 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | BAE Systems plc (United Kingdom) | 0.4 % |
2. | Sembcorp Industries Ltd. (Singapore) | 0.4 |
3. | Novo Nordisk A/S, Class B (Denmark) | 0.4 |
4. | Centrica plc (United Kingdom) | 0.4 |
5. | Iberdrola SA (Spain) | 0.4 |
6. | AstraZeneca plc (United Kingdom) | 0.4 |
7. | 3i Group plc (United Kingdom) | 0.4 |
8. | Wolters Kluwer NV (Netherlands) | 0.4 |
9. | Kansai Electric Power Co., Inc. (The) (Japan) | 0.4 |
10. | United Utilities Group plc (United Kingdom) | 0.4 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
Japan | 29.9% |
United Kingdom | 15.7 |
Australia | 10.4 |
South Korea | 6.4 |
France | 4.9 |
Singapore | 3.3 |
Netherlands | 3.1 |
Hong Kong | 3.1 |
Spain | 2.4 |
Germany | 2.4 |
United States | 2.4 |
Sweden | 2.3 |
Italy | 2.2 |
China | 1.5 |
Switzerland | 1.5 |
Finland | 1.2 |
Norway | 1.0 |
Others (each less than 1.0%) | 4.5 |
Short-Term Investments | 1.8 |
34 |
INCEPTION DATE | SIX MONTHS* | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
JPMorgan Diversified Return International Equity ETF | |||||
Net Asset Value | November 5, 2014 | 21.62 % | 3.06 % | 1.04 % | 3.62 % |
Market Price | 21.62 | 3.50 | 1.04 | 3.64 |
* | Not annualized. |
35 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | 3.63% |
Market Price ** | 3.47% |
JP Morgan Diversified Factor US Equity Index | 3.73% |
Russell 1000 Index | 8.01% |
Net Assets as of 4/30/2023 | $499,885,428 |
Fund Ticker | JPUS |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Microsoft Corp. | 0.5 % |
2. | Mondelez International, Inc., Class A | 0.5 |
3. | Apple, Inc. | 0.5 |
4. | Hershey Co. (The) | 0.5 |
5. | Kimberly-Clark Corp. | 0.5 |
6. | Arista Networks, Inc. | 0.5 |
7. | Southern Co. (The) | 0.5 |
8. | NVIDIA Corp. | 0.5 |
9. | HCA Healthcare, Inc. | 0.5 |
10. | Republic Services, Inc. | 0.5 |
PORTFOLIO COMPOSITION BY SECTOR AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
Consumer Staples | 15.0% |
Utilities | 12.4 |
Health Care | 12.2 |
Industrials | 9.2 |
Technology | 8.9 |
Real Estate | 8.0 |
Consumer Discretionary | 7.6 |
Financials | 7.5 |
Basic Materials | 6.9 |
Telecommunications | 5.1 |
Energy | 4.8 |
Short-Term Investments | 2.4 |
36 |
37 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
INCEPTION DATE | SIX MONTHS* | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
JPMorgan Diversified Return U.S. Equity ETF | |||||
Net Asset Value | September 29, 2015 | 3.63 % | (0.78 )% | 8.97 % | 10.97 % |
Market Price | 3.47 | (0.74 ) | 8.95 | 10.96 |
* | Not annualized. |
38 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | 3.83% |
Market Price ** | 3.89% |
JP Morgan Diversified Factor US Mid Cap Equity Index | 3.95% |
Russell Midcap Index | 3.80% |
Net Assets as of 4/30/2023 | $343,670,280 |
Fund Ticker | JPME |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Hershey Co. (The) | 0.5 % |
2. | Arista Networks, Inc. | 0.5 |
3. | Manhattan Associates, Inc. | 0.5 |
4. | Republic Services, Inc. | 0.5 |
5. | Molson Coors Beverage Co., Class B | 0.5 |
6. | Lamb Weston Holdings, Inc. | 0.5 |
7. | Dick's Sporting Goods, Inc. | 0.5 |
8. | Lennar Corp., Class A | 0.5 |
9. | Motorola Solutions, Inc. | 0.5 |
10. | Cable One, Inc. | 0.4 |
PORTFOLIO COMPOSITION BY SECTOR AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
Health Care | 13.0% |
Utilities | 11.4 |
Industrials | 11.2 |
Consumer Staples | 10.0 |
Technology | 9.9 |
Real Estate | 9.2 |
Financials | 8.7 |
Consumer Discretionary | 8.4 |
Basic Materials | 8.3 |
Energy | 5.5 |
Telecommunications | 3.8 |
Short-Term Investments | 0.6 |
39 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
40 |
INCEPTION DATE | SIX MONTHS* | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
JPMorgan Diversified Return U.S. Mid Cap Equity ETF | |||||
Net Asset Value | May 11, 2016 | 3.83 % | (0.60 )% | 8.22 % | 9.80 % |
Market Price | 3.89 | (0.54 ) | 8.22 | 9.80 |
* | Not annualized. |
41 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | (1.28)% |
Market Price ** | (1.58)% |
JP Morgan Diversified Factor US Small Cap Equity Index | (1.18)% |
Russell 2000 Index | (3.45)% |
Net Assets as of 4/30/2023 | $379,870,736 |
Fund Ticker | JPSE |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Triton International Ltd. (Bermuda) | 0.4 % |
2. | Taylor Morrison Home Corp. | 0.4 |
3. | Merit Medical Systems, Inc. | 0.4 |
4. | Casella Waste Systems, Inc., Class A | 0.4 |
5. | Arcosa, Inc. | 0.3 |
6. | Lancaster Colony Corp. | 0.3 |
7. | Cogent Communications Holdings, Inc. | 0.3 |
8. | TreeHouse Foods, Inc. | 0.3 |
9. | Lantheus Holdings, Inc. | 0.3 |
10. | Badger Meter, Inc. | 0.3 |
PORTFOLIO COMPOSITION BY SECTOR AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
Financials | 10.6% |
Industrials | 10.4 |
Health Care | 10.4 |
Technology | 9.9 |
Real Estate | 9.7 |
Consumer Staples | 9.4 |
Basic Materials | 9.1 |
Consumer Discretionary | 7.9 |
Utilities | 6.1 |
Energy | 5.9 |
Telecommunications | 4.7 |
Short-Term Investments | 5.9 |
42 |
43 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
INCEPTION DATE | SIX MONTHS* | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
JPMorgan Diversified Return U.S. Small Cap Equity ETF | |||||
Net Asset Value | November 15, 2016 | (1.28 )% | (2.26 )% | 7.29 % | 8.44 % |
Market Price | (1.58 ) | (2.24 ) | 7.26 | 8.42 |
* | Not annualized. |
44 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | 4.20% |
Market Price ** | 4.04% |
JP Morgan US Momentum Factor Index | 4.26% |
Russell 1000 Growth Index | 11.51% |
Russell 1000 Index | 8.01% |
Net Assets as of 4/30/2023 | $239,117,346 |
Fund Ticker | JMOM |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | NVIDIA Corp. | 2.3 % |
2. | Microsoft Corp. | 2.3 |
3. | Apple, Inc. | 2.1 |
4. | Eli Lilly & Co. | 1.8 |
5. | Home Depot, Inc. (The) | 1.6 |
6. | Berkshire Hathaway, Inc., Class B | 1.6 |
7. | UnitedHealth Group, Inc. | 1.6 |
8. | AbbVie, Inc. | 1.4 |
9. | Broadcom, Inc. | 1.4 |
10. | Costco Wholesale Corp. | 1.3 |
PORTFOLIO COMPOSITION BY SECTOR AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
Technology | 26.4% |
Consumer Discretionary | 14.8 |
Health Care | 13.8 |
Industrials | 12.7 |
Financials | 10.6 |
Consumer Staples | 5.9 |
Energy | 4.8 |
Utilities | 3.2 |
Real Estate | 3.1 |
Telecommunications | 2.5 |
Basic Materials | 1.8 |
Short-Term Investments | 0.4 |
45 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
46 |
INCEPTION DATE | SIX MONTHS* | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
JPMorgan U.S. Momentum Factor ETF | |||||
Net Asset Value | November 8, 2017 | 4.20 % | 0.72 % | 9.94 % | 9.96 % |
Market Price | 4.04 | 0.77 | 9.90 | 9.94 |
* | Not annualized. |
47 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | 10.38% |
Market Price ** | 10.38% |
JP Morgan US Quality Factor Index | 10.45% |
Russell 1000 Index | 8.01% |
Net Assets as of 4/30/2023 | $1,201,066,036 |
Fund Ticker | JQUA |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Meta Platforms, Inc., Class A | 2.4 % |
2. | Microsoft Corp. | 2.3 |
3. | NVIDIA Corp. | 2.2 |
4. | Alphabet, Inc., Class A | 2.2 |
5. | Apple, Inc. | 2.1 |
6. | Visa, Inc., Class A | 1.9 |
7. | Berkshire Hathaway, Inc., Class B | 1.9 |
8. | Procter & Gamble Co. (The) | 1.7 |
9. | Exxon Mobil Corp. | 1.7 |
10. | Mastercard, Inc., Class A | 1.7 |
PORTFOLIO COMPOSITION BY SECTOR AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
Technology | 26.1% |
Consumer Discretionary | 13.7 |
Health Care | 13.4 |
Industrials | 12.8 |
Financials | 10.4 |
Consumer Staples | 5.7 |
Energy | 4.7 |
Real Estate | 2.9 |
Utilities | 2.9 |
Telecommunications | 2.3 |
Basic Materials | 2.0 |
Short-Term Investments | 3.1 |
48 |
49 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
INCEPTION DATE | SIX MONTHS* | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
JPMorgan U.S. Quality Factor ETF | |||||
Net Asset Value | November 8, 2017 | 10.38 % | 6.39 % | 12.14 % | 11.69 % |
Market Price | 10.38 | 6.42 | 12.14 | 11.70 |
* | Not annualized. |
50 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | 4.78% |
Market Price ** | 4.78% |
JP Morgan US Value Factor Index | 4.85% |
Russell 1000 Value Index | 4.54% |
Russell 1000 Index | 8.01% |
Net Assets as of 4/30/2023 | $561,362,200 |
Fund Ticker | JVAL |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Meta Platforms, Inc., Class A | 2.3 % |
2. | Microsoft Corp. | 2.2 |
3. | Apple, Inc. | 2.1 |
4. | Alphabet, Inc., Class A | 2.1 |
5. | UnitedHealth Group, Inc. | 1.9 |
6. | Johnson & Johnson | 1.7 |
7. | Merck & Co., Inc. | 1.5 |
8. | Broadcom, Inc. | 1.4 |
9. | Pfizer, Inc. | 1.1 |
10. | Texas Instruments, Inc. | 0.9 |
PORTFOLIO COMPOSITION BY SECTOR AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
Technology | 27.8% |
Health Care | 14.1 |
Consumer Discretionary | 13.7 |
Industrials | 13.1 |
Financials | 9.6 |
Consumer Staples | 5.8 |
Energy | 4.8 |
Utilities | 3.1 |
Real Estate | 2.9 |
Telecommunications | 2.4 |
Basic Materials | 2.0 |
Short-Term Investments | 0.7 |
51 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
52 |
INCEPTION DATE | SIX MONTHS* | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
JPMorgan U.S. Value Factor ETF | |||||
Net Asset Value | November 8, 2017 | 4.78 % | 0.14 % | 8.81 % | 8.46 % |
Market Price | 4.78 | 0.14 | 8.78 | 8.45 |
* | Not annualized. |
53 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 99.5% | ||
Aerospace & Defense — 0.4% | ||
CAE, Inc. * | 1,072,531 | 24,136,598 |
Automobile Components — 0.8% | ||
Magna International, Inc. | 896,931 | 46,764,738 |
Banks — 23.7% | ||
Bank of Montreal (a) | 2,394,590 | 215,855,096 |
Bank of Nova Scotia (The) | 4,019,907 | 200,661,557 |
Canadian Imperial Bank of Commerce | 3,057,137 | 128,165,761 |
National Bank of Canada | 1,138,001 | 84,859,756 |
Royal Bank of Canada (a) | 4,675,414 | 464,176,801 |
Toronto-Dominion Bank (The) | 6,146,876 | 372,346,838 |
1,466,065,809 | ||
Broadline Retail — 1.4% | ||
Canadian Tire Corp. Ltd., Class A (a) | 181,962 | 23,853,763 |
Dollarama, Inc. | 960,011 | 59,463,500 |
83,317,263 | ||
Capital Markets — 3.1% | ||
Brookfield Corp. | 4,819,176 | 156,364,894 |
IGM Financial, Inc. (a) | 272,655 | 8,367,712 |
Onex Corp. | 229,045 | 10,547,380 |
TMX Group Ltd. | 188,076 | 19,048,447 |
194,328,433 | ||
Chemicals — 2.0% | ||
Nutrien Ltd. (a) | 1,755,264 | 121,767,918 |
Commercial Services & Supplies — 2.9% | ||
GFL Environmental, Inc. | 590,553 | 21,449,691 |
Ritchie Bros Auctioneers, Inc. (a) | 612,085 | 35,021,463 |
Waste Connections, Inc. | 867,874 | 120,721,507 |
177,192,661 | ||
Construction & Engineering — 0.9% | ||
WSP Global, Inc. | 419,945 | 55,423,379 |
Consumer Staples Distribution & Retail — 4.3% | ||
Alimentation Couche-Tard, Inc. | 2,590,780 | 129,304,752 |
Empire Co. Ltd., Class A | 538,954 | 14,471,821 |
George Weston Ltd. | 218,450 | 29,331,973 |
Loblaw Cos. Ltd. | 513,940 | 48,338,469 |
Metro, Inc. | 793,885 | 45,247,666 |
266,694,681 | ||
Containers & Packaging — 0.4% | ||
CCL Industries, Inc., Class B | 490,634 | 23,071,404 |
INVESTMENTS | SHARES | VALUE($) |
Diversified Telecommunication Services — 1.3% | ||
BCE, Inc. | 1,015,430 | 48,805,994 |
TELUS Corp. | 1,588,505 | 33,673,000 |
82,478,994 | ||
Electric Utilities — 2.3% | ||
Emera, Inc. (a) | 910,876 | 38,758,535 |
Fortis, Inc. (a) | 1,620,709 | 71,163,582 |
Hydro One Ltd. (b) | 1,070,730 | 31,358,871 |
141,280,988 | ||
Financial Services — 0.1% | ||
Nuvei Corp. * (b) | 216,568 | 8,794,753 |
Food Products — 0.4% | ||
Saputo, Inc. | 822,024 | 21,283,981 |
Gas Utilities — 0.3% | ||
AltaGas Ltd. | 949,932 | 16,616,886 |
Ground Transportation — 8.4% | ||
Canadian National Railway Co. | 2,048,899 | 244,231,604 |
Canadian Pacific Kansas City Ltd. | 3,138,528 | 247,403,617 |
TFI International, Inc. | 262,662 | 28,308,599 |
519,943,820 | ||
Health Care Equipment & Supplies — 0.0% ^ | ||
Bausch + Lomb Corp. * | 129,909 | 2,267,666 |
Hotels, Restaurants & Leisure — 1.2% | ||
Restaurant Brands International, Inc. | 1,032,218 | 72,362,303 |
Independent Power and Renewable Electricity Producers — 0.2% | ||
Brookfield Renewable Corp. | 430,045 | 14,369,220 |
Insurance — 7.5% | ||
Fairfax Financial Holdings Ltd. | 76,587 | 53,520,738 |
Great-West Lifeco, Inc. | 911,931 | 25,927,285 |
iA Financial Corp., Inc. | 351,588 | 23,591,442 |
Intact Financial Corp. | 591,370 | 89,452,979 |
Manulife Financial Corp. | 6,270,096 | 123,796,042 |
Power Corp. of Canada | 1,900,593 | 50,907,864 |
Sun Life Financial, Inc. (a) | 1,978,478 | 97,051,074 |
464,247,424 | ||
IT Services — 4.3% | ||
CGI, Inc. * | 714,381 | 72,505,836 |
Shopify, Inc., Class A * | 4,034,655 | 195,471,642 |
267,977,478 | ||
Media — 0.2% | ||
Quebecor, Inc., Class B | 519,483 | 13,408,363 |
54 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Metals & Mining — 8.9% | ||
Agnico Eagle Mines Ltd. | 1,660,402 | 94,193,821 |
Barrick Gold Corp. | 5,943,964 | 113,013,627 |
First Quantum Minerals Ltd. | 1,892,749 | 45,989,812 |
Franco-Nevada Corp. | 646,738 | 98,133,666 |
Ivanhoe Mines Ltd., Class A * (a) | 1,929,683 | 16,735,266 |
Kinross Gold Corp. | 4,123,039 | 20,784,852 |
Lundin Mining Corp. | 2,262,642 | 17,284,825 |
Teck Resources Ltd., Class B | 1,519,450 | 70,777,200 |
Wheaton Precious Metals Corp. | 1,525,062 | 75,248,474 |
552,161,543 | ||
Multi-Utilities — 0.5% | ||
Algonquin Power & Utilities Corp. (a) | 2,308,800 | 19,631,233 |
Canadian Utilities Ltd., Class A (a) | 407,662 | 11,785,895 |
31,417,128 | ||
Oil, Gas & Consumable Fuels — 17.6% | ||
ARC Resources Ltd. (a) | 2,093,104 | 26,000,620 |
Cameco Corp. | 1,460,124 | 40,144,384 |
Canadian Natural Resources Ltd. | 3,736,389 | 227,682,973 |
Cenovus Energy, Inc. | 4,661,747 | 78,243,442 |
Enbridge, Inc. (a) | 6,832,667 | 271,672,710 |
Imperial Oil Ltd. | 591,333 | 30,141,681 |
Keyera Corp. (a) | 773,235 | 18,194,436 |
Pembina Pipeline Corp. | 1,861,147 | 61,266,676 |
Suncor Energy, Inc. (a) | 4,553,454 | 142,567,457 |
TC Energy Corp. | 3,434,614 | 142,748,728 |
Tourmaline Oil Corp. | 1,074,259 | 48,263,753 |
1,086,926,860 | ||
Paper & Forest Products — 0.2% | ||
West Fraser Timber Co. Ltd. | 200,197 | 14,480,796 |
Passenger Airlines — 0.3% | ||
Air Canada * | 1,136,754 | 15,907,928 |
Professional Services — 1.1% | ||
Thomson Reuters Corp. * (a) | 534,031 | 70,223,983 |
Real Estate Management & Development — 0.3% | ||
FirstService Corp. | 131,259 | 19,744,314 |
Residential REITs — 0.2% | ||
Canadian Apartment Properties (a) | 280,095 | 10,260,261 |
Retail REITs — 0.1% | ||
RioCan (a) | 495,794 | 7,677,424 |
INVESTMENTS | SHARES | VALUE($) |
Software — 2.7% | ||
Constellation Software, Inc. | 66,503 | 130,164,952 |
Open Text Corp. | 912,627 | 34,562,418 |
164,727,370 | ||
Textiles, Apparel & Luxury Goods — 0.3% | ||
Gildan Activewear, Inc. | 605,892 | 19,730,564 |
Trading Companies & Distributors — 0.2% | ||
Finning International, Inc. | 509,384 | 13,200,334 |
Wireless Telecommunication Services — 1.0% | ||
Rogers Communications, Inc., Class B | 1,182,550 | 58,427,056 |
Total Common Stocks (Cost $5,256,236,889) | 6,148,680,321 | |
Short-Term Investments — 7.2% | ||
Investment of Cash Collateral from Securities Loaned — 7.2% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.01% (c) (d) | 207,568,050 | 207,588,807 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (c) (d) | 237,636,480 | 237,636,480 |
Total Investment of Cash Collateral from Securities Loaned (Cost $445,246,044) | 445,225,287 | |
Total Investments — 106.7% (Cost $5,701,482,933) | 6,593,905,608 | |
Liabilities in Excess of Other Assets — (6.7)% | (412,986,531 ) | |
NET ASSETS — 100.0% | 6,180,919,077 |
Percentages indicated are based on net assets. |
Abbreviations | |
REIT | Real Estate Investment Trust |
^ | Amount rounds to less than 0.1% of net assets. | |
* | Non-income producing security. | |
(a) | The security or a portion of this security is on loan at April 30, 2023. The total value of securities on loan at April 30, 2023 is $426,409,614. | |
(b) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 55 |
AS OF April 30, 2023 (Unaudited) (continued)
(c) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(d) | The rate shown is the current yield as of April 30, 2023. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P / TSX 60 Index | 167 | 06/15/2023 | CAD | 30,783,172 | 1,256,334 |
Abbreviations | |
CAD | Canadian Dollar |
TSX | Toronto Stock Exchange |
56 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 99.2% | ||
Australia — 57.7% | ||
Ampol Ltd. | 570,057 | 11,374,192 |
ANZ Group Holdings Ltd. | 7,184,554 | 116,664,565 |
APA Group | 2,822,503 | 19,270,459 |
Aristocrat Leisure Ltd. | 1,572,616 | 39,780,066 |
ASX Ltd. | 463,112 | 21,076,010 |
Atlas Arteria Ltd. | 2,915,335 | 12,675,379 |
Aurizon Holdings Ltd. | 4,403,271 | 10,011,497 |
Bendigo & Adelaide Bank Ltd. | 1,358,932 | 7,823,707 |
BHP Group Ltd. | 12,118,287 | 359,640,459 |
BlueScope Steel Ltd. | 1,109,944 | 14,753,064 |
Brambles Ltd. | 3,322,157 | 31,470,227 |
Challenger Ltd. | 1,406,999 | 5,661,804 |
Cochlear Ltd. | 157,362 | 25,802,276 |
Coles Group Ltd. | 3,201,657 | 38,676,583 |
Commonwealth Bank of Australia | 4,038,967 | 267,283,084 |
Computershare Ltd. | 1,372,008 | 20,423,457 |
Dexus, REIT | 2,572,930 | 13,335,462 |
Domino's Pizza Enterprises Ltd. | 155,576 | 5,236,618 |
Endeavour Group Ltd. | 3,256,085 | 14,675,835 |
Fortescue Metals Group Ltd. | 4,050,968 | 56,679,647 |
Goodman Group, REIT | 4,093,540 | 52,772,421 |
GPT Group (The), REIT | 4,582,379 | 13,474,600 |
Harvey Norman Holdings Ltd. | 1,549,941 | 3,722,351 |
IDP Education Ltd. | 499,370 | 9,381,552 |
IGO Ltd. | 1,612,245 | 14,846,980 |
Incitec Pivot Ltd. | 4,646,126 | 9,899,112 |
Insurance Australia Group Ltd. | 5,860,590 | 19,416,655 |
LendLease Corp. Ltd. | 1,648,676 | 8,187,966 |
Lottery Corp. Ltd. (The) | 5,324,418 | 17,852,695 |
Macquarie Group Ltd. | 869,045 | 106,016,388 |
Medibank Pvt Ltd. | 6,588,033 | 15,590,979 |
Mineral Resources Ltd. | 408,205 | 20,137,016 |
Mirvac Group, REIT | 9,439,153 | 15,153,873 |
National Australia Bank Ltd. | 7,513,874 | 144,650,790 |
Newcrest Mining Ltd. | 2,137,900 | 40,822,924 |
Northern Star Resources Ltd. | 2,750,860 | 24,537,160 |
Orica Ltd. | 1,086,379 | 11,726,181 |
Origin Energy Ltd. | 4,121,099 | 22,849,506 |
Pilbara Minerals Ltd. | 6,239,328 | 17,758,443 |
Qantas Airways Ltd. * | 2,129,649 | 9,391,640 |
QBE Insurance Group Ltd. | 3,551,666 | 36,318,619 |
Ramsay Health Care Ltd. | 443,495 | 19,070,844 |
REA Group Ltd. | 123,258 | 11,592,226 |
Reece Ltd. (a) | 509,950 | 6,212,014 |
INVESTMENTS | SHARES | VALUE($) |
Australia — continued | ||
Rio Tinto Ltd. | 888,010 | 66,604,899 |
Santos Ltd. | 7,925,963 | 37,546,054 |
Scentre Group, REIT | 12,416,249 | 23,827,966 |
SEEK Ltd. | 848,549 | 13,845,183 |
Seven Group Holdings Ltd. | 373,662 | 5,902,197 |
Sonic Healthcare Ltd. | 1,150,580 | 27,122,568 |
South32 Ltd. | 10,937,183 | 30,916,709 |
Stockland, REIT | 5,710,512 | 16,928,118 |
Suncorp Group Ltd. | 3,023,880 | 25,176,918 |
Telstra Group Ltd. | 9,674,040 | 28,066,493 |
TPG Telecom Ltd. | 1,023,006 | 3,651,631 |
Transurban Group | 7,356,028 | 73,363,867 |
Treasury Wine Estates Ltd. | 1,726,781 | 15,995,347 |
Vicinity Ltd., REIT | 9,256,329 | 12,940,072 |
Washington H Soul Pattinson & Co. Ltd. | 587,177 | 12,291,648 |
Wesfarmers Ltd. | 2,713,946 | 93,884,671 |
Westpac Banking Corp. | 8,394,297 | 125,655,756 |
WiseTech Global Ltd. | 416,911 | 19,096,908 |
Woodside Energy Group Ltd. | 4,542,125 | 103,062,324 |
Woolworths Group Ltd. | 2,910,016 | 75,069,219 |
Worley Ltd. | 891,783 | 8,960,165 |
2,563,606,039 | ||
China — 2.3% | ||
Budweiser Brewing Co. APAC Ltd. (b) | 4,118,500 | 11,899,214 |
ESR Group Ltd. (b) | 5,808,600 | 9,079,687 |
Wharf Holdings Ltd. (The) | 2,925,000 | 6,684,948 |
Wilmar International Ltd. | 7,466,700 | 22,054,524 |
Wuxi Biologics Cayman, Inc. * (b) | 8,496,500 | 50,663,264 |
100,381,637 | ||
Hong Kong — 19.0% | ||
AIA Group Ltd. | 27,960,000 | 304,402,637 |
CK Asset Holdings Ltd. | 4,642,500 | 27,451,692 |
CK Infrastructure Holdings Ltd. | 1,447,000 | 8,238,332 |
CLP Holdings Ltd. | 3,988,500 | 29,697,283 |
DFI Retail Group Holdings Ltd. | 712,000 | 2,142,887 |
Hang Lung Properties Ltd. | 4,412,000 | 8,064,814 |
Hang Seng Bank Ltd. | 1,738,000 | 25,762,119 |
Henderson Land Development Co. Ltd. | 3,127,700 | 11,136,882 |
HK Electric Investments & HK Electric Investments Ltd. (b) | 5,495,500 | 3,465,574 |
HKT Trust & HKT Ltd. | 8,704,000 | 11,439,430 |
Hong Kong & China Gas Co. Ltd. | 25,888,789 | 22,987,466 |
Hong Kong Exchanges & Clearing Ltd. | 2,850,900 | 118,360,529 |
Jardine Matheson Holdings Ltd. | 581,500 | 28,110,745 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 57 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Hong Kong — continued | ||
Link, REIT | 6,049,800 | 39,571,085 |
MTR Corp. Ltd. | 3,709,000 | 18,532,111 |
New World Development Co. Ltd. | 3,311,250 | 8,830,698 |
Power Assets Holdings Ltd. | 3,263,000 | 18,645,761 |
Sino Land Co. Ltd. | 8,098,000 | 10,912,636 |
Sun Hung Kai Properties Ltd. | 3,604,500 | 50,186,512 |
Swire Pacific Ltd., Class A | 1,056,000 | 8,382,665 |
Swire Pacific Ltd., Class B | 2,037,500 | 2,586,837 |
Swire Properties Ltd. | 2,519,000 | 6,770,405 |
Techtronic Industries Co. Ltd. | 4,389,000 | 47,482,350 |
WH Group Ltd. (b) | 18,722,191 | 10,423,370 |
Wharf Real Estate Investment Co. Ltd. | 3,704,000 | 21,359,923 |
844,944,743 | ||
Macau — 1.2% | ||
Galaxy Entertainment Group Ltd. * | 4,808,000 | 34,219,959 |
Sands China Ltd. * | 5,808,179 | 20,801,528 |
55,021,487 | ||
New Zealand — 1.8% | ||
Auckland International Airport Ltd. * | 2,889,051 | 15,818,587 |
Contact Energy Ltd. | 1,873,682 | 9,087,437 |
Fisher & Paykel Healthcare Corp. Ltd. | 1,385,555 | 23,766,306 |
Mercury NZ Ltd. | 1,558,315 | 6,120,941 |
Meridian Energy Ltd. | 2,902,054 | 9,828,359 |
Spark New Zealand Ltd. | 4,480,919 | 14,518,866 |
79,140,496 | ||
Singapore — 10.5% | ||
CapitaLand Ascendas, REIT | 8,039,428 | 17,300,246 |
CapitaLand Ascott Trust, REIT | 334,797 | 271,823 |
CapitaLand Integrated Commercial Trust, REIT | 12,045,032 | 18,392,025 |
Capitaland Investment Ltd. | 5,872,300 | 16,437,881 |
City Developments Ltd. | 1,214,900 | 6,355,495 |
DBS Group Holdings Ltd. | 4,379,700 | 108,222,228 |
Genting Singapore Ltd. | 13,597,500 | 11,567,747 |
Great Eastern Holdings Ltd. | 135,900 | 1,736,390 |
Jardine Cycle & Carriage Ltd. | 236,300 | 6,018,264 |
Keppel Corp. Ltd. | 3,331,300 | 15,468,511 |
Mapletree Pan Asia Commercial Trust, REIT | 5,511,300 | 7,300,543 |
Olam Group Ltd. | 2,571,600 | 3,103,931 |
Oversea-Chinese Banking Corp. Ltd. | 9,686,300 | 91,641,034 |
Singapore Airlines Ltd. | 3,123,400 | 13,737,612 |
Singapore Exchange Ltd. | 1,968,500 | 14,166,560 |
Singapore Technologies Engineering Ltd. | 3,722,700 | 10,134,401 |
INVESTMENTS | SHARES | VALUE($) |
Singapore — continued | ||
Singapore Telecommunications Ltd. | 16,976,500 | 32,532,958 |
United Overseas Bank Ltd. | 3,685,600 | 78,274,623 |
UOL Group Ltd. | 1,111,300 | 5,797,513 |
Venture Corp. Ltd. | 647,500 | 8,272,306 |
466,732,091 | ||
United Kingdom — 1.0% | ||
CK Hutchison Holdings Ltd. | 6,413,500 | 42,877,010 |
United States — 5.7% | ||
CSL Ltd. | 1,153,540 | 230,289,005 |
James Hardie Industries plc, CHDI | 1,062,751 | 23,715,410 |
254,004,415 | ||
Total Common Stocks (Cost $4,492,483,279) | 4,406,707,918 | |
Short-Term Investments — 0.0% ^ | ||
Investment of Cash Collateral from Securities Loaned — 0.0% ^ | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (c) (d)(Cost $69,050) | 69,050 | 69,050 |
Total Investments — 99.2% (Cost $4,492,552,329) | 4,406,776,968 | |
Other Assets Less Liabilities — 0.8% | 35,418,827 | |
NET ASSETS — 100.0% | 4,442,195,795 |
Percentages indicated are based on net assets. |
Abbreviations | |
APAC | Asia Pacific |
CHDI | Clearing House Electronic Subregister System (CHESS) Depository Interest |
REIT | Real Estate Investment Trust |
^ | Amount rounds to less than 0.1% of net assets. | |
* | Non-income producing security. | |
(a) | The security or a portion of this security is on loan at April 30, 2023. The total value of securities on loan at April 30, 2023 is $66,231. | |
(b) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. |
58 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
(c) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(d) | The rate shown is the current yield as of April 30, 2023. |
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Banks | 21.9 % |
Metals & Mining | 14.7 |
Insurance | 9.1 |
Capital Markets | 5.9 |
Biotechnology | 5.2 |
Real Estate Management & Development | 4.7 |
Oil, Gas & Consumable Fuels | 3.7 |
Consumer Staples Distribution & Retail | 3.0 |
Hotels, Restaurants & Leisure | 3.0 |
Retail REITs | 2.3 |
Transportation Infrastructure | 2.3 |
Electric Utilities | 2.2 |
Broadline Retail | 2.2 |
Industrial Conglomerates | 2.1 |
Diversified Telecommunication Services | 2.1 |
Industrial REITs | 1.6 |
Life Sciences Tools & Services | 1.2 |
Health Care Equipment & Supplies | 1.1 |
Machinery | 1.1 |
Health Care Providers & Services | 1.1 |
Diversified REITs | 1.0 |
Gas Utilities | 1.0 |
Others (each less than 1.0%) | 7.5 |
Short-Term Investments | 0.0 (a) |
(a) | Amount rounds to less than 0.1%. |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 59 |
AS OF April 30, 2023 (Unaudited) (continued)
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
MSCI Singapore Index | 549 | 05/30/2023 | SGD | 12,423,318 | (78,604 ) |
SPI 200 Index | 183 | 06/15/2023 | AUD | 22,314,063 | 895,656 |
817,052 |
Abbreviations | |
AUD | Australian Dollar |
MSCI | Morgan Stanley Capital International |
SGD | Singapore Dollar |
SPI | Australian Securities Exchange |
60 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 99.2% | ||
Australia — 1.6% | ||
Flutter Entertainment plc * | 137,741 | 27,523,074 |
Glencore plc | 10,883,022 | 64,238,488 |
Rio Tinto plc | 953,700 | 60,628,995 |
152,390,557 | ||
Austria — 0.4% | ||
ANDRITZ AG | 64,508 | 4,189,523 |
BAWAG Group AG (a) | 74,162 | 3,617,178 |
Erste Group Bank AG | 320,681 | 11,659,711 |
EVN AG * | 33,957 | 818,377 |
Mondi plc | 436,482 | 6,955,484 |
OMV AG | 129,447 | 6,125,782 |
Raiffeisen Bank International AG * | 121,235 | 1,862,375 |
Strabag SE | 10,145 | 442,407 |
Telekom Austria AG * | 125,111 | 976,047 |
Verbund AG | 29,076 | 2,589,525 |
Vienna Insurance Group AG Wiener Versicherung Gruppe | 32,133 | 945,450 |
voestalpine AG | 99,513 | 3,450,288 |
43,632,147 | ||
Belgium — 1.5% | ||
Ackermans & van Haaren NV * | 20,175 | 3,548,687 |
Ageas SA | 160,323 | 7,143,283 |
Anheuser-Busch InBev SA | 890,122 | 57,875,242 |
Azelis Group NV * | 63,064 | 1,496,161 |
D'ieteren Group | 20,383 | 3,837,892 |
Elia Group SA/NV | 32,382 | 4,440,222 |
Etablissements Franz Colruyt NV | 50,622 | 1,406,162 |
Groupe Bruxelles Lambert NV | 90,775 | 8,147,183 |
KBC Group NV | 303,757 | 21,715,108 |
Proximus SADP | 139,777 | 1,191,541 |
Sofina SA | 14,163 | 3,251,721 |
Solvay SA | 65,671 | 7,881,744 |
UCB SA (b) | 113,652 | 10,564,813 |
Umicore SA (b) | 186,058 | 6,107,449 |
Warehouses De Pauw CVA, REIT | 139,358 | 4,167,039 |
142,774,247 | ||
Brazil — 0.1% | ||
Yara International ASA | 146,549 | 5,901,359 |
Chile — 0.1% | ||
Antofagasta plc | 310,178 | 5,705,104 |
China — 0.8% | ||
Prosus NV | 1,044,758 | 78,182,932 |
INVESTMENTS | SHARES | VALUE($) |
Denmark — 4.5% | ||
AP Moller - Maersk A/S, Class A | 2,694 | 4,814,698 |
AP Moller - Maersk A/S, Class B | 4,968 | 8,979,922 |
Carlsberg A/S, Class B | 88,477 | 14,642,659 |
Chr Hansen Holding A/S | 92,451 | 7,195,414 |
Coloplast A/S, Class B | 106,794 | 15,386,978 |
Danske Bank A/S * | 612,289 | 12,940,596 |
Demant A/S * | 86,980 | 3,727,613 |
DSV A/S | 161,431 | 30,381,695 |
Genmab A/S * | 59,296 | 24,368,564 |
Novo Nordisk A/S, Class B | 1,472,468 | 244,951,677 |
Novozymes A/S, Class B | 187,946 | 9,784,980 |
Orsted A/S (a) | 170,053 | 15,262,277 |
Pandora A/S | 85,848 | 7,946,250 |
Tryg A/S | 323,671 | 7,649,311 |
Vestas Wind Systems A/S * | 907,805 | 25,119,505 |
433,152,139 | ||
Finland — 1.9% | ||
Elisa OYJ | 135,381 | 8,407,334 |
Fortum OYJ | 395,226 | 5,903,090 |
Huhtamaki OYJ | 86,214 | 3,107,673 |
Kesko OYJ, Class A | 84,448 | 1,752,352 |
Kesko OYJ, Class B | 245,528 | 5,118,731 |
Kone OYJ, Class B | 362,574 | 20,685,114 |
Metso Outotec OYJ | 633,415 | 6,993,361 |
Neste OYJ | 387,225 | 18,766,628 |
Nokia OYJ | 4,809,927 | 20,351,528 |
Nordea Bank Abp | 2,881,339 | 32,009,568 |
Orion OYJ, Class A | 26,616 | 1,248,377 |
Orion OYJ, Class B | 96,278 | 4,522,477 |
Sampo OYJ, Class A | 431,700 | 21,893,641 |
Stora Enso OYJ, Class A | 45,944 | 612,571 |
Stora Enso OYJ, Class R | 550,498 | 6,984,087 |
UPM-Kymmene OYJ | 479,795 | 15,300,861 |
Wartsila OYJ Abp | 436,178 | 5,058,413 |
178,715,806 | ||
France — 15.6% | ||
Adevinta ASA * | 241,012 | 1,856,505 |
Aeroports de Paris * | 24,909 | 3,958,190 |
Air Liquide SA | 470,558 | 84,648,789 |
Airbus SE | 552,666 | 77,392,377 |
Alstom SA | 277,319 | 6,970,295 |
Amundi SA (a) (b) | 54,977 | 3,601,811 |
AXA SA (b) | 1,796,980 | 58,653,735 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 61 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
France — continued | ||
BioMerieux | 43,624 | 4,567,666 |
BNP Paribas SA | 1,020,820 | 65,958,641 |
Bollore SE (b) | 822,186 | 5,554,168 |
Bouygues SA (b) | 185,152 | 6,780,123 |
Bureau Veritas SA | 260,233 | 7,503,844 |
Capgemini SE | 141,996 | 25,894,010 |
Carrefour SA | 527,050 | 10,962,959 |
Cie de Saint-Gobain | 463,633 | 26,841,901 |
Cie Generale des Etablissements Michelin SCA | 641,946 | 20,444,436 |
Credit Agricole SA | 1,230,782 | 15,044,494 |
Danone SA (b) | 571,084 | 37,796,429 |
Dassault Aviation SA | 21,015 | 4,106,705 |
Dassault Systemes SE | 623,137 | 25,296,640 |
Edenred | 224,364 | 14,577,749 |
Eiffage SA | 70,477 | 8,388,444 |
Engie SA (b) | 1,663,767 | 26,627,404 |
EssilorLuxottica SA | 273,636 | 54,174,464 |
Gecina SA, REIT | 48,904 | 5,444,124 |
Getlink SE | 360,923 | 6,745,377 |
Hermes International | 31,317 | 67,991,590 |
Ipsen SA | 36,165 | 4,385,556 |
Kering SA | 64,689 | 41,424,702 |
Legrand SA | 239,853 | 22,703,040 |
L'Oreal SA (b) | 226,117 | 108,065,199 |
LVMH Moet Hennessy Louis Vuitton SE | 234,681 | 225,735,275 |
Orange SA | 1,697,769 | 22,098,022 |
Pernod Ricard SA | 183,184 | 42,306,197 |
Publicis Groupe SA | 212,608 | 17,382,212 |
Safran SA | 314,928 | 48,977,530 |
Sartorius Stedim Biotech | 21,545 | 5,771,875 |
Societe Generale SA | 675,672 | 16,410,904 |
Sodexo SA * | 75,555 | 8,097,078 |
Teleperformance (b) | 53,146 | 10,621,524 |
Thales SA | 95,922 | 14,638,025 |
TotalEnergies SE | 2,104,273 | 134,462,926 |
Unibail-Rodamco-Westfield, REIT * | 96,047 | 5,150,618 |
Veolia Environnement SA | 603,816 | 19,119,801 |
Vinci SA | 476,840 | 58,980,907 |
Vivendi SE (b) | 723,733 | 7,949,813 |
Worldline SA * (a) | 225,153 | 9,794,763 |
1,501,858,837 | ||
Germany — 12.0% | ||
adidas AG | 160,598 | 28,282,263 |
INVESTMENTS | SHARES | VALUE($) |
Germany — continued | ||
Allianz SE (Registered) | 362,554 | 91,039,796 |
BASF SE | 825,655 | 42,706,291 |
Bayer AG (Registered) | 883,137 | 58,283,748 |
Bayerische Motoren Werke AG | 286,812 | 32,147,164 |
Bayerische Motoren Werke AG (Preference) | 53,400 | 5,676,142 |
Beiersdorf AG | 88,348 | 12,335,978 |
Brenntag SE | 138,886 | 11,319,857 |
Carl Zeiss Meditec AG | 32,965 | 4,433,870 |
Commerzbank AG * | 945,664 | 10,509,271 |
Continental AG | 97,088 | 6,812,392 |
Covestro AG * (a) | 173,675 | 7,619,199 |
Daimler Truck Holding AG * | 466,063 | 15,400,108 |
Deutsche Bank AG (Registered) | 1,857,899 | 20,423,294 |
Deutsche Boerse AG | 170,798 | 32,572,656 |
Deutsche Lufthansa AG (Registered) * | 537,333 | 5,776,288 |
Deutsche Post AG (Registered) | 891,069 | 42,860,061 |
Deutsche Telekom AG (Registered) | 3,137,759 | 75,656,911 |
Deutsche Wohnen SE | 46,779 | 1,059,194 |
E.ON SE | 2,018,222 | 26,696,520 |
Evonik Industries AG | 184,318 | 4,023,013 |
Fresenius SE & Co. KGaA | 369,610 | 10,709,073 |
GEA Group AG | 147,648 | 6,944,310 |
Hannover Rueck SE | 54,205 | 11,581,390 |
HeidelbergCement AG | 130,183 | 9,860,265 |
Henkel AG & Co. KGaA | 88,745 | 6,563,070 |
Henkel AG & Co. KGaA (Preference) | 160,157 | 12,948,459 |
Infineon Technologies AG | 1,173,941 | 42,751,146 |
Mercedes-Benz Group AG | 702,053 | 54,750,327 |
Merck KGaA | 116,180 | 20,839,063 |
MTU Aero Engines AG | 48,058 | 12,618,567 |
Muenchener Rueckversicherungs- Gesellschaft AG (Registered) | 125,940 | 47,331,717 |
Porsche Automobil Holding SE (Preference) * | 137,650 | 7,666,723 |
Puma SE | 92,193 | 5,402,330 |
RWE AG | 607,879 | 28,501,174 |
SAP SE | 982,869 | 132,998,098 |
Sartorius AG (Preference) (b) | 24,232 | 9,418,716 |
Siemens AG (Registered) | 672,405 | 110,834,023 |
Siemens Energy AG * | 359,264 | 8,817,811 |
Siemens Healthineers AG (a) | 253,500 | 15,799,552 |
Symrise AG | 119,364 | 14,421,861 |
Talanx AG | 47,827 | 2,405,497 |
Telefonica Deutschland Holding AG | 828,921 | 2,800,903 |
Vantage Towers AG | 49,881 | 1,788,263 |
62 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Germany — continued | ||
Volkswagen AG (Preference) | 164,975 | 22,527,300 |
Vonovia SE | 715,419 | 15,516,376 |
Zalando SE * (a) | 201,364 | 8,281,996 |
1,159,712,026 | ||
Hong Kong — 0.4% | ||
Prudential plc | 2,471,461 | 37,815,925 |
Ireland — 0.7% | ||
CRH plc | 669,062 | 32,284,902 |
Kerry Group plc, Class A | 140,010 | 14,746,502 |
Kingspan Group plc | 138,840 | 9,621,576 |
Smurfit Kappa Group plc | 232,855 | 8,627,076 |
65,280,056 | ||
Italy — 3.5% | ||
A2A SpA | 1,408,142 | 2,484,506 |
Amplifon SpA | 83,439 | 3,063,036 |
Assicurazioni Generali SpA | 1,084,112 | 22,580,021 |
Banca Mediolanum SpA | 193,670 | 1,751,036 |
Banco BPM SpA | 1,362,053 | 5,538,217 |
Buzzi Unicem SpA | 84,848 | 2,109,817 |
Coca-Cola HBC AG | 183,187 | 5,592,091 |
Davide Campari-Milano NV | 480,334 | 6,190,291 |
DiaSorin SpA | 23,638 | 2,567,388 |
Enel SpA | 6,945,795 | 47,454,473 |
Eni SpA | 2,247,380 | 33,952,095 |
Ferrari NV | 115,054 | 32,059,594 |
FinecoBank Banca Fineco SpA | 548,459 | 8,313,374 |
Hera SpA | 709,671 | 2,209,388 |
Infrastrutture Wireless Italiane SpA (a) | 319,369 | 4,432,690 |
Intesa Sanpaolo SpA | 15,362,763 | 40,394,715 |
Leonardo SpA | 363,804 | 4,335,415 |
Mediobanca Banca di Credito Finanziario SpA | 572,550 | 6,148,719 |
Moncler SpA | 187,624 | 13,918,169 |
Nexi SpA * (a) | 766,403 | 6,354,853 |
Pirelli & C SpA (a) | 359,575 | 1,883,465 |
Poste Italiane SpA (a) | 410,936 | 4,276,586 |
Prysmian SpA | 241,045 | 9,864,916 |
Recordati Industria Chimica e Farmaceutica SpA | 90,235 | 4,153,735 |
Snam SpA | 1,842,932 | 10,242,418 |
Telecom Italia SpA * (b) | 9,094,948 | 2,674,950 |
Telecom Italia SpA * | 5,418,605 | 1,564,815 |
Terna - Rete Elettrica Nazionale | 1,264,799 | 10,947,774 |
INVESTMENTS | SHARES | VALUE($) |
Italy — continued | ||
UniCredit SpA | 1,739,686 | 34,472,714 |
UnipolSai Assicurazioni SpA (b) | 380,554 | 1,023,767 |
332,555,028 | ||
Jordan — 0.0% ^ | ||
Hikma Pharmaceuticals plc | 159,659 | 3,697,825 |
Luxembourg — 0.2% | ||
ArcelorMittal SA * | 512,912 | 14,571,650 |
Eurofins Scientific SE | 116,085 | 8,108,520 |
22,680,170 | ||
Mexico — 0.0% ^ | ||
Fresnillo plc | 165,605 | 1,482,029 |
Netherlands — 7.6% | ||
Adyen NV * (a) | 27,854 | 44,757,249 |
Aegon NV | 1,270,484 | 5,796,873 |
Akzo Nobel NV (b) | 156,752 | 13,003,868 |
Argenx SE * | 46,789 | 18,048,773 |
Argenx SE * | 3,087 | 1,203,474 |
ASM International NV | 41,700 | 15,139,160 |
ASML Holding NV | 362,396 | 229,981,103 |
HAL Trust | 79,645 | 10,933,563 |
Heineken Holding NV | 98,390 | 9,443,592 |
Heineken NV (b) | 212,294 | 24,376,689 |
ING Groep NV (b) | 3,349,924 | 41,546,710 |
JDE Peet's NV | 117,504 | 3,573,583 |
Koninklijke Ahold Delhaize NV | 893,296 | 30,715,683 |
Koninklijke KPN NV | 2,867,144 | 10,456,144 |
Koninklijke Philips NV | 799,438 | 16,877,746 |
NN Group NV | 265,186 | 9,888,880 |
Randstad NV | 112,450 | 6,110,056 |
Shell plc | 6,391,703 | 196,405,354 |
Universal Music Group NV | 684,698 | 14,958,887 |
Wolters Kluwer NV | 231,491 | 30,671,088 |
733,888,475 | ||
Norway — 1.0% | ||
Aker ASA, Class A (b) | 21,379 | 1,306,720 |
Aker BP ASA | 278,392 | 6,655,188 |
AutoStore Holdings Ltd. * (b) (c) | 893,792 | 1,924,909 |
DNB Bank ASA (b) | 808,335 | 14,218,678 |
Equinor ASA | 942,001 | 27,121,184 |
Gjensidige Forsikring ASA | 170,798 | 2,975,258 |
Kongsberg Gruppen ASA | 79,697 | 3,579,654 |
Leroy Seafood Group ASA | 251,713 | 1,325,464 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 63 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Norway — continued | ||
Mowi ASA | 409,068 | 7,804,728 |
Norsk Hydro ASA (b) | 1,227,533 | 9,033,495 |
Orkla ASA | 675,168 | 4,852,963 |
Salmar ASA (b) | 60,017 | 2,666,466 |
Schibsted ASA, Class A | 66,671 | 1,183,735 |
Schibsted ASA, Class B | 89,846 | 1,454,777 |
Storebrand ASA | 424,276 | 3,273,508 |
Telenor ASA (b) | 578,691 | 7,220,989 |
TOMRA Systems ASA | 210,236 | 3,223,821 |
Var Energi ASA (b) | 358,111 | 939,780 |
100,761,317 | ||
Poland — 0.4% | ||
Allegro.eu SA * (a) | 380,036 | 2,995,532 |
Bank Polska Kasa Opieki SA | 158,082 | 3,657,559 |
Dino Polska SA * (a) | 43,185 | 4,404,147 |
ING Bank Slaski SA * | 29,161 | 1,109,158 |
KGHM Polska Miedz SA | 122,255 | 3,516,735 |
LPP SA | 933 | 2,689,551 |
Polski Koncern Naftowy ORLEN SA * | 480,062 | 7,323,985 |
Powszechna Kasa Oszczednosci Bank Polski SA | 775,333 | 5,994,916 |
Powszechny Zaklad Ubezpieczen SA | 512,325 | 4,719,994 |
Santander Bank Polska SA | 30,314 | 2,465,702 |
38,877,279 | ||
Portugal — 0.3% | ||
EDP - Energias de Portugal SA | 2,638,024 | 14,535,513 |
Galp Energia SGPS SA * | 409,008 | 4,942,329 |
Jeronimo Martins SGPS SA | 248,906 | 6,281,199 |
25,759,041 | ||
Russia — 0.0% ^ | ||
Evraz plc ‡ * | 453,755 | 23,346 |
Singapore — 0.3% | ||
STMicroelectronics NV | 589,813 | 25,230,478 |
South Africa — 0.4% | ||
Anglo American plc | 1,202,398 | 37,050,908 |
South Korea — 0.1% | ||
Delivery Hero SE * (a) | 173,482 | 6,934,280 |
Spain — 3.8% | ||
Acciona SA * | 22,191 | 4,111,745 |
ACS Actividades de Construccion y Servicios SA | 199,248 | 6,850,621 |
Aena SME SA * (a) | 66,072 | 11,127,640 |
INVESTMENTS | SHARES | VALUE($) |
Spain — continued | ||
Amadeus IT Group SA * | 404,970 | 28,463,329 |
Banco Bilbao Vizcaya Argentaria SA (b) | 5,420,695 | 39,684,844 |
Banco Santander SA (b) | 15,097,109 | 53,037,326 |
CaixaBank SA | 3,641,730 | 13,480,252 |
Cellnex Telecom SA (a) | 533,464 | 22,460,962 |
Corp. ACCIONA Energias Renovables SA * | 50,316 | 1,806,702 |
EDP Renovaveis SA * | 189,966 | 4,222,506 |
Endesa SA | 285,525 | 6,405,103 |
Ferrovial SA | 444,669 | 13,941,888 |
Grifols SA * | 264,314 | 2,720,745 |
Grifols SA (Preference), Class B * | 235,005 | 1,738,658 |
Iberdrola SA | 5,273,336 | 68,332,422 |
Industria de Diseno Textil SA (b) | 1,008,602 | 34,672,466 |
Mapfre SA | 885,864 | 1,774,497 |
Naturgy Energy Group SA (b) | 165,608 | 5,156,418 |
Red Electrica Corp. SA | 389,117 | 7,074,667 |
Repsol SA | 1,193,245 | 17,528,419 |
Telefonica SA | 5,191,575 | 23,581,115 |
368,172,325 | ||
Sweden — 5.0% | ||
Alfa Laval AB (b) | 264,155 | 9,691,141 |
Assa Abloy AB, Class B | 891,518 | 21,241,310 |
Atlas Copco AB, Class A | 2,293,869 | 33,178,811 |
Atlas Copco AB, Class B | 1,403,129 | 17,997,663 |
Axfood AB | 97,464 | 2,418,781 |
Beijer Ref AB (b) | 296,999 | 4,858,204 |
Boliden AB * (b) | 245,869 | 8,786,597 |
Castellum AB (b) | 257,957 | 3,135,754 |
Electrolux AB, Class B | 202,626 | 3,056,634 |
Embracer Group AB * | 750,181 | 3,916,438 |
Epiroc AB, Class A | 562,790 | 11,274,414 |
Epiroc AB, Class B | 350,561 | 6,036,007 |
EQT AB (b) | 298,275 | 6,424,297 |
Essity AB, Class A | 25,290 | 767,542 |
Essity AB, Class B | 541,801 | 16,419,437 |
Evolution AB (a) | 172,100 | 22,994,011 |
Fastighets AB Balder, Class B * (b) | 586,083 | 2,728,696 |
Getinge AB, Class B | 196,481 | 4,986,862 |
H & M Hennes & Mauritz AB, Class B (b) | 643,396 | 9,432,692 |
Hexagon AB, Class B | 1,913,016 | 21,903,479 |
Holmen AB, Class B | 83,278 | 3,150,392 |
Husqvarna AB, Class B | 373,012 | 3,219,553 |
Industrivarden AB, Class A | 164,075 | 4,694,702 |
Industrivarden AB, Class C (b) | 153,858 | 4,393,651 |
64 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Sweden — continued | ||
Indutrade AB | 239,077 | 5,740,693 |
Investment AB Latour, Class B | 122,449 | 2,651,229 |
Investor AB, Class A | 504,343 | 11,059,152 |
Investor AB, Class B | 1,637,806 | 35,185,231 |
Kinnevik AB, Class B * | 218,158 | 3,583,891 |
L E Lundbergforetagen AB, Class B | 57,388 | 2,753,542 |
Lifco AB, Class B | 190,500 | 4,344,257 |
Nibe Industrier AB, Class B | 1,378,362 | 15,433,346 |
Nordnet AB publ | 146,077 | 2,296,543 |
Saab AB, Class B | 73,184 | 4,109,230 |
Sagax AB, Class B | 168,813 | 4,140,775 |
Sagax AB, Class D | 90,176 | 238,210 |
Sandvik AB (b) | 981,024 | 19,983,288 |
Securitas AB, Class B (b) | 451,929 | 4,050,774 |
Skandinaviska Enskilda Banken AB, Class A | 1,530,089 | 17,398,303 |
Skandinaviska Enskilda Banken AB, Class C | 12,861 | 164,038 |
Skanska AB, Class B | 359,791 | 5,884,911 |
SKF AB, Class A | 12,338 | 223,076 |
SKF AB, Class B (b) | 336,952 | 6,102,761 |
SSAB AB, Class A | 199,612 | 1,417,616 |
SSAB AB, Class B | 567,514 | 3,835,873 |
Svenska Cellulosa AB SCA, Class A | 27,866 | 380,656 |
Svenska Cellulosa AB SCA, Class B (b) | 538,903 | 7,393,599 |
Svenska Handelsbanken AB, Class A (b) | 1,381,103 | 12,208,655 |
Svenska Handelsbanken AB, Class B (b) | 31,688 | 348,181 |
Swedbank AB, Class A | 824,258 | 14,322,667 |
Swedish Orphan Biovitrum AB * | 181,022 | 4,405,259 |
Tele2 AB, Class B | 494,075 | 5,250,122 |
Telefonaktiebolaget LM Ericsson, Class A | 49,074 | 300,520 |
Telefonaktiebolaget LM Ericsson, Class B | 2,761,890 | 15,206,127 |
Telia Co. AB | 2,205,793 | 6,141,305 |
Trelleborg AB, Class B | 218,057 | 5,479,361 |
Volvo AB, Class A | 172,007 | 3,642,447 |
Volvo AB, Class B | 1,427,929 | 29,359,232 |
Volvo Car AB, Class B * (b) | 482,113 | 1,990,034 |
483,731,972 | ||
Switzerland — 8.9% | ||
ABB Ltd. (Registered) | 1,536,578 | 55,429,967 |
Alcon, Inc. | 449,199 | 32,709,029 |
Baloise Holding AG (Registered) | 41,171 | 6,891,746 |
Barry Callebaut AG (Registered) | 3,207 | 6,847,232 |
Chocoladefabriken Lindt & Spruengli AG | 936 | 11,556,906 |
Chocoladefabriken Lindt & Spruengli AG (Registered) | 96 | 11,833,141 |
INVESTMENTS | SHARES | VALUE($) |
Switzerland — continued | ||
Cie Financiere Richemont SA (Registered) | 469,245 | 77,566,607 |
Credit Suisse Group AG (Registered) * | 3,417,803 | 3,075,498 |
DSM-Firmenich AG * | 157,122 | 20,561,243 |
EMS-Chemie Holding AG (Registered) * | 6,097 | 5,007,479 |
Geberit AG (Registered) | 32,248 | 18,367,241 |
Givaudan SA (Registered) | 7,139 | 24,971,993 |
Julius Baer Group Ltd. | 192,194 | 13,771,894 |
Kuehne + Nagel International AG (Registered) (b) | 51,019 | 15,114,692 |
Lonza Group AG (Registered) | 66,943 | 41,748,350 |
Mediclinic International plc | 364,505 | 2,284,961 |
Novartis AG (Registered) | 2,160,794 | 221,036,027 |
Partners Group Holding AG | 20,401 | 19,803,931 |
Schindler Holding AG | 36,602 | 8,179,517 |
Schindler Holding AG (Registered) | 18,692 | 3,993,037 |
SGS SA (Registered) | 136,435 | 12,346,741 |
Sika AG (Registered) | 138,198 | 38,173,469 |
Sonova Holding AG (Registered) | 46,182 | 14,645,529 |
Straumann Holding AG (Registered) | 104,638 | 15,742,854 |
Swatch Group AG (The) (b) | 26,012 | 8,923,743 |
Swatch Group AG (The) (Registered) | 49,399 | 3,116,480 |
Swiss Life Holding AG (Registered) (b) | 27,711 | 18,290,842 |
Swisscom AG (Registered) | 22,818 | 15,665,715 |
UBS Group AG (Registered) * | 3,168,426 | 64,485,601 |
Zurich Insurance Group AG | 135,254 | 65,591,731 |
857,733,196 | ||
United Arab Emirates — 0.0% ^ | ||
NMC Health plc ‡ * | 23,176 | — |
United Kingdom — 18.0% | ||
3i Group plc | 874,911 | 19,465,925 |
abrdn plc | 1,799,575 | 4,822,375 |
Admiral Group plc | 247,731 | 7,200,082 |
Ashtead Group plc | 403,901 | 23,287,373 |
Associated British Foods plc | 320,249 | 7,890,478 |
AstraZeneca plc | 1,392,893 | 204,982,293 |
Auto Trader Group plc (a) | 871,078 | 6,965,990 |
Aviva plc | 2,524,767 | 13,442,720 |
B&M European Value Retail SA | 765,513 | 4,621,364 |
BAE Systems plc | 2,746,307 | 34,987,907 |
Barclays plc | 13,558,455 | 27,312,320 |
Barratt Developments plc | 902,789 | 5,679,819 |
Berkeley Group Holdings plc | 100,997 | 5,652,014 |
BP plc | 16,434,008 | 110,255,682 |
British American Tobacco plc | 2,009,570 | 74,245,152 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 65 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
United Kingdom — continued | ||
British Land Co. plc (The), REIT | 843,174 | 4,248,115 |
BT Group plc | 6,272,503 | 12,528,019 |
Bunzl plc | 303,553 | 12,083,558 |
Burberry Group plc | 363,950 | 11,880,049 |
Centrica plc | 5,310,427 | 7,630,826 |
CNH Industrial NV | 895,352 | 12,599,248 |
Coca-Cola Europacific Partners plc | 180,800 | 11,656,176 |
Compass Group plc | 1,604,966 | 42,340,544 |
ConvaTec Group plc (a) | 1,451,477 | 4,012,714 |
Croda International plc | 128,132 | 11,257,606 |
DCC plc | 91,093 | 5,667,529 |
Dechra Pharmaceuticals plc | 102,338 | 4,803,853 |
Diageo plc | 2,095,792 | 95,601,877 |
Direct Line Insurance Group plc | 1,178,855 | 2,548,032 |
DS Smith plc | 1,238,231 | 4,834,379 |
easyJet plc * | 511,053 | 3,206,282 |
Entain plc | 529,338 | 9,645,209 |
Halma plc | 341,277 | 9,925,492 |
Harbour Energy plc | 488,563 | 1,519,826 |
Hargreaves Lansdown plc | 315,523 | 3,194,435 |
Hiscox Ltd. | 318,069 | 4,733,873 |
Howden Joinery Group plc | 521,936 | 4,499,288 |
HSBC Holdings plc | 17,949,976 | 129,371,754 |
Imperial Brands plc | 862,624 | 21,353,480 |
Informa plc | 1,272,483 | 11,568,243 |
InterContinental Hotels Group plc | 168,747 | 11,602,486 |
Intermediate Capital Group plc | 264,386 | 4,341,182 |
Intertek Group plc | 145,082 | 7,589,849 |
ITV plc | 3,256,730 | 3,314,762 |
J Sainsbury plc | 1,580,954 | 5,493,823 |
JD Sports Fashion plc | 2,225,682 | 4,517,171 |
Johnson Matthey plc | 178,835 | 4,417,883 |
Kingfisher plc | 1,756,782 | 5,693,901 |
Land Securities Group plc, REIT | 675,386 | 5,731,213 |
Legal & General Group plc | 5,369,606 | 15,843,148 |
Lloyds Banking Group plc | 60,471,205 | 36,737,576 |
London Stock Exchange Group plc | 341,242 | 35,828,112 |
M&G plc | 2,134,716 | 5,517,253 |
Melrose Industries plc | 1,214,891 | 6,258,017 |
National Grid plc | 3,484,530 | 49,960,931 |
NatWest Group plc | 4,547,622 | 14,980,318 |
Next plc | 116,199 | 9,859,115 |
Ocado Group plc * | 653,437 | 4,158,703 |
Pearson plc | 643,416 | 7,158,509 |
INVESTMENTS | SHARES | VALUE($) |
United Kingdom — continued | ||
Pepco Group NV * (a) | 108,260 | 1,038,156 |
Persimmon plc | 287,047 | 4,750,543 |
Phoenix Group Holdings plc | 764,371 | 5,694,985 |
Reckitt Benckiser Group plc | 662,099 | 53,504,099 |
RELX plc | 1,782,062 | 59,375,982 |
Rentokil Initial plc | 2,265,357 | 18,035,084 |
Rightmove plc | 787,076 | 5,696,915 |
Rolls-Royce Holdings plc * | 7,521,985 | 14,409,636 |
Sage Group plc (The) | 989,540 | 10,205,061 |
Schroders plc | 826,016 | 5,059,273 |
Segro plc, REIT | 1,087,138 | 11,445,314 |
Severn Trent plc | 227,728 | 8,388,038 |
Smith & Nephew plc | 795,439 | 13,100,693 |
Smiths Group plc | 317,355 | 6,710,362 |
Spirax-Sarco Engineering plc | 66,173 | 9,247,016 |
SSE plc | 942,320 | 21,742,308 |
St. James's Place plc | 489,243 | 7,440,461 |
Standard Chartered plc | 2,185,846 | 17,318,748 |
Tate & Lyle plc | 361,017 | 3,701,813 |
Taylor Wimpey plc | 3,279,853 | 5,293,249 |
Tesco plc | 6,656,706 | 23,534,471 |
Unilever plc | 2,363,525 | 131,606,114 |
United Utilities Group plc | 612,972 | 8,326,903 |
Vodafone Group plc | 24,091,199 | 28,936,574 |
Weir Group plc (The) | 233,377 | 5,401,128 |
Whitbread plc | 181,073 | 7,411,686 |
Wise plc, Class A * | 423,715 | 2,933,731 |
WPP plc | 966,423 | 11,263,099 |
1,734,097,295 | ||
United States — 10.1% | ||
Experian plc | 871,536 | 30,856,630 |
Ferguson plc | 185,719 | 26,241,729 |
GSK plc | 3,602,357 | 64,961,898 |
Haleon plc | 4,565,715 | 20,074,073 |
Holcim AG * | 509,387 | 33,656,586 |
Nestle SA (Registered) | 2,472,077 | 317,141,707 |
QIAGEN NV * | 207,501 | 9,279,601 |
Roche Holding AG | 631,560 | 197,766,830 |
Roche Holding AG | 23,977 | 8,113,852 |
Sanofi | 1,031,405 | 111,152,718 |
Schneider Electric SE | 513,377 | 89,528,789 |
Stellantis NV | 1,944,423 | 32,251,324 |
66 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
United States — continued | ||
Swiss Re AG | 259,723 | 26,155,122 |
Tenaris SA | 413,879 | 5,920,652 |
973,101,511 | ||
Total Common Stocks (Cost $9,449,758,046) | 9,550,897,610 | |
Short-Term Investments — 3.5% | ||
Investment of Cash Collateral from Securities Loaned — 3.5% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.01% (d) (e) | 299,585,319 | 299,615,278 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (d) (e) | 41,582,415 | 41,582,415 |
Total Investment of Cash Collateral from Securities Loaned (Cost $341,234,279) | 341,197,693 | |
Total Investments — 102.7% (Cost $9,790,992,325) | 9,892,095,303 | |
Liabilities in Excess of Other Assets — (2.7)% | (262,932,154 ) | |
NET ASSETS — 100.0% | 9,629,163,149 |
Percentages indicated are based on net assets. |
Abbreviations | |
CVA | Dutch Certification |
OYJ | Public Limited Company |
Preference | A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference shares may also have liquidation preference. |
REIT | Real Estate Investment Trust |
SCA | Limited partnership with share capital |
SGPS | Holding company |
^ | Amount rounds to less than 0.1% of net assets. | |
‡ | Value determined using significant unobservable inputs. | |
* | Non-income producing security. | |
(a) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. | |
(b) | The security or a portion of this security is on loan at April 30, 2023. The total value of securities on loan at April 30, 2023 is $322,961,901. |
(c) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. | |
(d) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(e) | The rate shown is the current yield as of April 30, 2023. |
INDUSTRY April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
Pharmaceuticals | 12.0 % |
Banks | 7.4 |
Oil, Gas & Consumable Fuels | 5.7 |
Insurance | 5.1 |
Textiles, Apparel & Luxury Goods | 5.0 |
Food Products | 4.4 |
Semiconductors & Semiconductor Equipment | 3.2 |
Chemicals | 2.9 |
Personal Care Products | 2.7 |
Beverages | 2.7 |
Machinery | 2.7 |
Capital Markets | 2.5 |
Aerospace & Defense | 2.3 |
Diversified Telecommunication Services | 2.2 |
Metals & Mining | 2.2 |
Electrical Equipment | 2.1 |
Electric Utilities | 2.1 |
Health Care Equipment & Supplies | 2.0 |
Automobiles | 1.9 |
Financial Services | 1.7 |
Software | 1.7 |
Professional Services | 1.7 |
Hotels, Restaurants & Leisure | 1.7 |
Multi-Utilities | 1.4 |
Industrial Conglomerates | 1.3 |
Construction & Engineering | 1.1 |
Broadline Retail | 1.0 |
Consumer Staples Distribution & Retail | 1.0 |
Tobacco | 1.0 |
Others (each less than 1.0%) | 11.9 |
Short-Term Investments | 3.4 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 67 |
AS OF April 30, 2023 (Unaudited) (continued)
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
EURO STOXX 50 Index | 1,088 | 06/16/2023 | EUR | 51,922,939 | 2,110,529 |
FTSE 100 Index | 272 | 06/16/2023 | GBP | 26,876,856 | 846,399 |
2,956,928 |
Abbreviations | |
EUR | Euro |
FTSE | Financial Times and the London Stock Exchange |
GBP | British Pound |
68 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 98.8% | ||
Australia — 7.5% | ||
Ampol Ltd. | 51,145 | 1,020,482 |
ANZ Group Holdings Ltd. | 646,618 | 10,499,943 |
APA Group | 254,028 | 1,734,360 |
Aristocrat Leisure Ltd. | 141,539 | 3,580,296 |
ASX Ltd. | 41,682 | 1,896,928 |
Atlas Arteria Ltd. | 261,543 | 1,137,144 |
Aurizon Holdings Ltd. | 396,302 | 901,052 |
Bendigo & Adelaide Bank Ltd. | 122,307 | 704,152 |
BHP Group Ltd. | 1,090,664 | 32,368,181 |
BlueScope Steel Ltd. | 99,575 | 1,323,523 |
Brambles Ltd. | 299,000 | 2,832,376 |
Challenger Ltd. | 125,717 | 505,889 |
Cochlear Ltd. | 14,164 | 2,322,438 |
Coles Group Ltd. | 288,155 | 3,480,963 |
Commonwealth Bank of Australia | 363,513 | 24,055,873 |
Computershare Ltd. | 123,482 | 1,838,130 |
Dexus, REIT | 230,824 | 1,196,358 |
Domino's Pizza Enterprises Ltd. | 13,964 | 470,022 |
Endeavour Group Ltd. | 292,121 | 1,316,649 |
Flutter Entertainment plc * | 32,990 | 6,591,982 |
Fortescue Metals Group Ltd. | 364,594 | 5,101,264 |
Glencore plc | 2,606,520 | 15,385,332 |
Goodman Group, REIT | 368,425 | 4,749,600 |
GPT Group (The), REIT | 411,111 | 1,208,882 |
Harvey Norman Holdings Ltd. | 139,497 | 335,017 |
IDP Education Ltd. | 44,801 | 841,666 |
IGO Ltd. | 144,642 | 1,331,992 |
Incitec Pivot Ltd. | 418,157 | 890,932 |
Insurance Australia Group Ltd. | 526,863 | 1,745,544 |
LendLease Corp. Ltd. | 148,382 | 736,923 |
Lottery Corp. Ltd. (The) | 479,207 | 1,606,774 |
Macquarie Group Ltd. | 78,217 | 9,541,835 |
Medibank Pvt Ltd. | 591,043 | 1,398,739 |
Mineral Resources Ltd. | 36,018 | 1,776,791 |
Mirvac Group, REIT | 846,825 | 1,359,516 |
National Australia Bank Ltd. | 676,260 | 13,018,789 |
Newcrest Mining Ltd. | 192,415 | 3,674,140 |
Northern Star Resources Ltd. | 247,319 | 2,206,040 |
Orica Ltd. | 97,471 | 1,052,085 |
Origin Energy Ltd. | 370,905 | 2,056,489 |
Pilbara Minerals Ltd. | 559,756 | 1,593,184 |
Qantas Airways Ltd. * | 191,060 | 842,564 |
QBE Insurance Group Ltd. | 319,655 | 3,268,727 |
Ramsay Health Care Ltd. | 39,914 | 1,716,352 |
INVESTMENTS | SHARES | VALUE($) |
Australia — continued | ||
REA Group Ltd. | 11,065 | 1,040,646 |
Reece Ltd. (a) | 45,750 | 557,309 |
Rio Tinto Ltd. | 79,921 | 5,994,448 |
Rio Tinto plc | 228,413 | 14,520,762 |
Santos Ltd. | 713,348 | 3,379,198 |
Scentre Group, REIT | 1,117,480 | 2,144,551 |
SEEK Ltd. | 76,129 | 1,242,144 |
Seven Group Holdings Ltd. | 33,527 | 529,577 |
Sonic Healthcare Ltd. | 103,552 | 2,441,026 |
South32 Ltd. | 984,362 | 2,782,548 |
Stockland, REIT | 512,317 | 1,518,701 |
Suncorp Group Ltd. | 272,155 | 2,265,971 |
Telstra Group Ltd. | 870,676 | 2,526,020 |
TPG Telecom Ltd. | 91,782 | 327,617 |
Transurban Group | 662,052 | 6,602,843 |
Treasury Wine Estates Ltd. | 154,916 | 1,435,003 |
Vicinity Ltd., REIT | 830,428 | 1,160,914 |
Washington H Soul Pattinson & Co. Ltd. | 52,847 | 1,106,271 |
Wesfarmers Ltd. | 244,260 | 8,449,788 |
Westpac Banking Corp. | 755,498 | 11,309,187 |
WiseTech Global Ltd. | 37,524 | 1,718,814 |
Woodside Energy Group Ltd. | 408,800 | 9,275,808 |
Woolworths Group Ltd. | 261,907 | 6,756,373 |
Worley Ltd. | 80,261 | 806,420 |
267,107,857 | ||
Austria — 0.3% | ||
ANDRITZ AG | 15,399 | 1,000,100 |
BAWAG Group AG (b) | 17,700 | 863,300 |
Erste Group Bank AG | 76,804 | 2,792,534 |
EVN AG * | 8,010 | 193,044 |
Mondi plc | 104,538 | 1,665,847 |
OMV AG | 30,911 | 1,462,792 |
Raiffeisen Bank International AG * | 28,937 | 444,521 |
Strabag SE | 2,429 | 105,925 |
Telekom Austria AG * | 29,500 | 230,143 |
Verbund AG | 6,946 | 618,615 |
Vienna Insurance Group AG Wiener Versicherung Gruppe | 7,605 | 223,762 |
voestalpine AG | 23,754 | 823,592 |
10,424,175 | ||
Belgium — 1.0% | ||
Ackermans & van Haaren NV * | 4,832 | 849,926 |
Ageas SA | 38,398 | 1,710,845 |
Anheuser-Busch InBev SA | 213,188 | 13,861,366 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 69 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Belgium — continued | ||
Azelis Group NV * | 15,055 | 357,172 |
D'ieteren Group | 4,883 | 919,415 |
Elia Group SA/NV | 7,728 | 1,059,664 |
Etablissements Franz Colruyt NV | 12,089 | 335,804 |
Groupe Bruxelles Lambert NV | 21,741 | 1,951,285 |
KBC Group NV | 72,752 | 5,200,925 |
Proximus SADP | 32,975 | 281,098 |
Sofina SA | 3,388 | 777,860 |
Solvay SA | 15,729 | 1,887,773 |
UCB SA (a) | 27,220 | 2,530,305 |
Umicore SA | 44,423 | 1,458,208 |
Warehouses De Pauw CVA, REIT | 33,378 | 998,059 |
34,179,705 | ||
Brazil — 0.0% ^ | ||
Yara International ASA | 35,098 | 1,413,356 |
Chile — 0.0% ^ | ||
Antofagasta plc | 74,045 | 1,361,910 |
China — 0.8% | ||
Budweiser Brewing Co. APAC Ltd. (b) | 370,200 | 1,069,586 |
ESR Group Ltd. (b) | 523,000 | 817,525 |
Prosus NV | 250,223 | 18,725,071 |
Wharf Holdings Ltd. (The) | 262,000 | 598,789 |
Wilmar International Ltd. | 672,000 | 1,984,898 |
Wuxi Biologics Cayman, Inc. * (b) | 764,000 | 4,555,609 |
27,751,478 | ||
Denmark — 2.9% | ||
AP Moller - Maersk A/S, Class A | 643 | 1,149,165 |
AP Moller - Maersk A/S, Class B | 1,191 | 2,152,795 |
Carlsberg A/S, Class B | 21,191 | 3,507,042 |
Chr Hansen Holding A/S | 22,143 | 1,723,378 |
Coloplast A/S, Class B | 25,577 | 3,685,158 |
Danske Bank A/S * | 146,646 | 3,099,332 |
Demant A/S * | 20,767 | 889,990 |
DSV A/S | 38,663 | 7,276,468 |
Genmab A/S * | 14,203 | 5,836,932 |
Novo Nordisk A/S, Class B | 352,661 | 58,666,744 |
Novozymes A/S, Class B | 45,012 | 2,343,447 |
Orsted A/S (b) | 40,729 | 3,655,433 |
Pandora A/S | 20,562 | 1,903,257 |
Tryg A/S | 77,521 | 1,832,052 |
Vestas Wind Systems A/S * | 217,424 | 6,016,252 |
103,737,445 |
INVESTMENTS | SHARES | VALUE($) |
Finland — 1.2% | ||
Elisa OYJ | 32,426 | 2,013,696 |
Fortum OYJ | 94,359 | 1,409,345 |
Huhtamaki OYJ | 20,578 | 741,755 |
Kesko OYJ, Class A | 20,161 | 418,354 |
Kesko OYJ, Class B | 58,614 | 1,221,976 |
Kone OYJ, Class B | 86,839 | 4,954,229 |
Metso Outotec OYJ (a) | 151,705 | 1,674,933 |
Neste OYJ | 92,741 | 4,494,637 |
Nokia OYJ | 1,151,993 | 4,874,257 |
Nordea Bank Abp | 690,092 | 7,666,417 |
Orion OYJ, Class A | 6,347 | 297,695 |
Orion OYJ, Class B | 22,988 | 1,079,818 |
Sampo OYJ, Class A | 103,394 | 5,243,621 |
Stora Enso OYJ, Class A (a) | 10,851 | 144,676 |
Stora Enso OYJ, Class R | 131,846 | 1,672,711 |
UPM-Kymmene OYJ | 114,913 | 3,664,623 |
Wartsila OYJ Abp | 104,468 | 1,211,529 |
42,784,272 | ||
France — 10.2% | ||
Adevinta ASA * | 57,542 | 443,244 |
Aeroports de Paris * | 5,953 | 945,968 |
Air Liquide SA | 112,701 | 20,273,809 |
Airbus SE | 132,364 | 18,535,543 |
Alstom SA | 66,417 | 1,669,363 |
Amundi SA (a) (b) | 13,125 | 859,883 |
AXA SA (a) | 430,382 | 14,047,742 |
BioMerieux | 10,406 | 1,089,564 |
BNP Paribas SA | 244,490 | 15,797,328 |
Bollore SE | 196,283 | 1,325,964 |
Bouygues SA (a) | 44,201 | 1,618,606 |
Bureau Veritas SA | 62,326 | 1,797,176 |
Capgemini SE | 34,010 | 6,201,972 |
Carrefour SA | 126,232 | 2,625,702 |
Cie de Saint-Gobain | 111,042 | 6,428,745 |
Cie Generale des Etablissements Michelin SCA | 153,750 | 4,896,568 |
Credit Agricole SA | 294,777 | 3,603,214 |
Danone SA (a) | 136,778 | 9,052,469 |
Dassault Aviation SA | 5,022 | 981,388 |
Dassault Systemes SE | 149,245 | 6,058,695 |
Edenred | 53,736 | 3,491,424 |
Eiffage SA | 16,832 | 2,003,410 |
Engie SA (a) | 398,479 | 6,377,372 |
EssilorLuxottica SA | 65,536 | 12,974,819 |
Gecina SA, REIT | 11,668 | 1,298,913 |
70 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
France — continued | ||
Getlink SE | 86,163 | 1,610,321 |
Hermes International | 7,502 | 16,287,413 |
Ipsen SA | 8,662 | 1,050,399 |
Kering SA | 15,495 | 9,922,487 |
Legrand SA | 57,448 | 5,437,681 |
L'Oreal SA (a) | 54,157 | 25,882,561 |
LVMH Moet Hennessy Louis Vuitton SE | 56,205 | 54,062,541 |
Orange SA | 406,620 | 5,292,532 |
Pernod Ricard SA | 43,873 | 10,132,434 |
Publicis Groupe SA | 50,921 | 4,163,153 |
Safran SA | 75,425 | 11,730,079 |
Sartorius Stedim Biotech | 5,161 | 1,382,625 |
Societe Generale SA | 161,824 | 3,930,425 |
Sodexo SA * | 18,098 | 1,939,526 |
Teleperformance (a) | 12,728 | 2,543,761 |
Thales SA | 22,973 | 3,505,758 |
TotalEnergies SE | 503,980 | 32,204,294 |
Unibail-Rodamco-Westfield, REIT * | 22,936 | 1,229,966 |
Veolia Environnement SA | 144,615 | 4,579,226 |
Vinci SA | 114,204 | 14,126,029 |
Vivendi SE (a) | 172,949 | 1,899,751 |
Worldline SA * (b) | 53,927 | 2,345,970 |
359,657,813 | ||
Germany — 7.8% | ||
adidas AG | 38,464 | 6,773,739 |
Allianz SE (Registered) | 86,834 | 21,804,613 |
BASF SE | 197,747 | 10,228,293 |
Bayer AG (Registered) | 211,514 | 13,959,135 |
Bayerische Motoren Werke AG | 68,691 | 7,699,193 |
Bayerische Motoren Werke AG (Preference) | 12,751 | 1,355,365 |
Beiersdorf AG | 21,160 | 2,954,558 |
Brenntag SE | 33,263 | 2,711,090 |
Carl Zeiss Meditec AG | 7,877 | 1,059,475 |
Commerzbank AG * | 226,489 | 2,516,998 |
Continental AG | 23,252 | 1,631,527 |
Covestro AG * (b) | 41,596 | 1,824,835 |
Daimler Truck Holding AG * | 111,623 | 3,688,356 |
Deutsche Bank AG (Registered) | 444,975 | 4,891,469 |
Deutsche Boerse AG | 40,906 | 7,801,128 |
Deutsche Lufthansa AG (Registered) * | 128,285 | 1,379,054 |
Deutsche Post AG (Registered) | 213,413 | 10,265,079 |
Deutsche Telekom AG (Registered) | 751,505 | 18,120,113 |
Deutsche Wohnen SE | 10,991 | 248,864 |
E.ON SE | 483,373 | 6,393,933 |
INVESTMENTS | SHARES | VALUE($) |
Germany — continued | ||
Evonik Industries AG | 43,996 | 960,278 |
Fresenius SE & Co. KGaA | 88,521 | 2,564,806 |
GEA Group AG | 35,364 | 1,663,271 |
Hannover Rueck SE | 12,980 | 2,773,295 |
HeidelbergCement AG | 31,181 | 2,361,698 |
Henkel AG & Co. KGaA | 21,256 | 1,571,972 |
Henkel AG & Co. KGaA (Preference) | 38,358 | 3,101,188 |
Infineon Technologies AG | 281,161 | 10,238,977 |
Mercedes-Benz Group AG | 168,146 | 13,113,039 |
Merck KGaA | 27,825 | 4,990,936 |
MTU Aero Engines AG | 11,510 | 3,022,175 |
Muenchener Rueckversicherungs- Gesellschaft AG (Registered) | 30,164 | 11,336,461 |
Porsche Automobil Holding SE (Preference) * | 32,968 | 1,836,226 |
Puma SE | 22,014 | 1,289,977 |
RWE AG | 145,589 | 6,826,124 |
SAP SE | 235,399 | 31,853,298 |
Sartorius AG (Preference) | 5,804 | 2,255,952 |
Siemens AG (Registered) | 161,044 | 26,545,243 |
Siemens Energy AG * | 86,045 | 2,111,897 |
Siemens Healthineers AG (b) | 60,713 | 3,783,977 |
Symrise AG | 28,589 | 3,454,196 |
Talanx AG | 11,423 | 574,529 |
Telefonica Deutschland Holding AG | 197,890 | 668,665 |
Vantage Towers AG | 12,012 | 430,637 |
Volkswagen AG (Preference) | 39,514 | 5,395,628 |
Vonovia SE | 171,347 | 3,716,262 |
Zalando SE * (b) | 48,226 | 1,983,510 |
277,731,034 | ||
Hong Kong — 2.4% | ||
AIA Group Ltd. | 2,516,600 | 27,398,415 |
CK Asset Holdings Ltd. | 417,000 | 2,465,774 |
CK Infrastructure Holdings Ltd. | 130,000 | 740,140 |
CLP Holdings Ltd. | 359,500 | 2,676,739 |
DFI Retail Group Holdings Ltd. | 63,300 | 190,512 |
Hang Lung Properties Ltd. | 398,000 | 727,515 |
Hang Seng Bank Ltd. | 156,100 | 2,313,848 |
Henderson Land Development Co. Ltd. | 281,000 | 1,000,564 |
HK Electric Investments & HK Electric Investments Ltd. (b) | 495,000 | 312,157 |
HKT Trust & HKT Ltd. | 785,000 | 1,031,704 |
Hong Kong & China Gas Co. Ltd. | 2,331,100 | 2,069,857 |
Hong Kong Exchanges & Clearing Ltd. | 256,600 | 10,653,237 |
Jardine Matheson Holdings Ltd. | 52,200 | 2,523,441 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 71 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Hong Kong — continued | ||
Link, REIT | 544,500 | 3,561,515 |
MTR Corp. Ltd. | 334,000 | 1,668,839 |
New World Development Co. Ltd. | 298,000 | 794,730 |
Power Assets Holdings Ltd. | 294,000 | 1,680,004 |
Prudential plc | 591,922 | 9,057,022 |
Sino Land Co. Ltd. | 730,000 | 983,727 |
Sun Hung Kai Properties Ltd. | 324,500 | 4,518,109 |
Swire Pacific Ltd., Class A | 94,500 | 750,153 |
Swire Pacific Ltd., Class B | 182,500 | 231,705 |
Swire Properties Ltd. | 227,200 | 610,653 |
Techtronic Industries Co. Ltd. | 396,000 | 4,284,122 |
WH Group Ltd. (b) | 1,685,924 | 938,619 |
Wharf Real Estate Investment Co. Ltd. | 334,000 | 1,926,084 |
85,109,185 | ||
Ireland — 0.4% | ||
CRH plc | 160,241 | 7,732,265 |
Kerry Group plc, Class A | 33,532 | 3,531,746 |
Kingspan Group plc | 33,252 | 2,304,355 |
Smurfit Kappa Group plc | 55,771 | 2,066,267 |
15,634,633 | ||
Israel — 0.4% | ||
Azrieli Group Ltd. | 7,802 | 454,983 |
Bank Hapoalim BM | 264,795 | 2,281,100 |
Bank Leumi Le-Israel BM | 332,377 | 2,634,649 |
Bezeq The Israeli Telecommunication Corp. Ltd. | 439,232 | 597,982 |
Elbit Systems Ltd. | 5,334 | 987,429 |
ICL Group Ltd. | 154,935 | 962,274 |
Israel Discount Bank Ltd., Class A | 265,484 | 1,319,415 |
Mizrahi Tefahot Bank Ltd. | 32,117 | 1,053,222 |
Nice Ltd. * | 13,677 | 2,803,509 |
Teva Pharmaceutical Industries Ltd. * | 239,101 | 2,095,451 |
15,190,014 | ||
Italy — 2.3% | ||
A2A SpA | 336,187 | 593,164 |
Amplifon SpA | 19,916 | 731,114 |
Assicurazioni Generali SpA | 259,650 | 5,408,023 |
Banca Mediolanum SpA | 46,229 | 417,972 |
Banco BPM SpA | 325,174 | 1,322,183 |
Buzzi Unicem SpA | 20,252 | 503,583 |
Coca-Cola HBC AG | 43,739 | 1,335,206 |
Davide Campari-Milano NV | 114,669 | 1,477,794 |
DiaSorin SpA | 5,649 | 613,553 |
INVESTMENTS | SHARES | VALUE($) |
Italy — continued | ||
Enel SpA | 1,663,538 | 11,365,483 |
Eni SpA | 538,255 | 8,131,640 |
Ferrari NV | 27,556 | 7,678,431 |
FinecoBank Banca Fineco SpA | 131,360 | 1,991,115 |
Hera SpA | 169,420 | 527,448 |
Infrastrutture Wireless Italiane SpA (b) | 76,242 | 1,058,203 |
Intesa Sanpaolo SpA | 3,679,432 | 9,674,666 |
Leonardo SpA | 86,848 | 1,034,959 |
Mediobanca Banca di Credito Finanziario SpA | 136,688 | 1,467,917 |
Moncler SpA | 44,938 | 3,333,554 |
Nexi SpA * (b) | 182,975 | 1,517,190 |
Pirelli & C SpA (b) | 85,841 | 449,638 |
Poste Italiane SpA (b) | 98,114 | 1,021,066 |
Prysmian SpA | 57,733 | 2,362,759 |
Recordati Industria Chimica e Farmaceutica SpA | 21,614 | 994,945 |
Snam SpA | 441,389 | 2,453,097 |
Telecom Italia SpA * (a) | 2,171,325 | 638,617 |
Telecom Italia SpA * | 1,293,646 | 373,586 |
Terna - Rete Elettrica Nazionale | 302,922 | 2,622,015 |
UniCredit SpA | 416,661 | 8,256,338 |
UnipolSai Assicurazioni SpA | 90,011 | 242,148 |
79,597,407 | ||
Japan — 22.6% | ||
ABC-Mart, Inc. | 6,700 | 380,753 |
Acom Co. Ltd. | 101,300 | 248,199 |
Advance Residence Investment Corp., REIT | 298 | 773,192 |
Advantest Corp. | 39,300 | 3,062,724 |
Aeon Co. Ltd. | 187,700 | 3,825,702 |
AGC, Inc. | 49,200 | 1,834,415 |
Aisin Corp. | 39,400 | 1,156,448 |
Ajinomoto Co., Inc. | 115,500 | 4,153,884 |
ANA Holdings, Inc. * | 34,200 | 746,006 |
Asahi Group Holdings Ltd. | 109,300 | 4,222,707 |
Asahi Intecc Co. Ltd. | 50,700 | 917,480 |
Asahi Kasei Corp. | 300,300 | 2,121,067 |
Asics Corp. | 41,000 | 1,146,005 |
Astellas Pharma, Inc. | 395,400 | 5,956,529 |
Bandai Namco Holdings, Inc. | 143,600 | 3,261,934 |
Bank of Kyoto Ltd. (The) | 16,300 | 802,000 |
Bridgestone Corp. | 132,200 | 5,308,935 |
Brother Industries Ltd. | 55,400 | 870,071 |
Canon, Inc. | 224,000 | 5,335,088 |
Capcom Co. Ltd. | 34,500 | 1,296,428 |
72 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Japan — continued | ||
Central Japan Railway Co. | 44,500 | 5,509,046 |
Chiba Bank Ltd. (The) | 158,000 | 1,031,745 |
Chubu Electric Power Co., Inc. | 163,200 | 1,820,066 |
Chugai Pharmaceutical Co. Ltd. | 137,500 | 3,548,278 |
Concordia Financial Group Ltd. | 259,400 | 984,257 |
Cosmos Pharmaceutical Corp. | 4,600 | 452,434 |
CyberAgent, Inc. | 89,400 | 780,158 |
Dai Nippon Printing Co. Ltd. | 58,000 | 1,667,275 |
Daifuku Co. Ltd. | 81,600 | 1,503,463 |
Dai-ichi Life Holdings, Inc. | 222,000 | 4,129,373 |
Daiichi Sankyo Co. Ltd. | 419,200 | 14,384,687 |
Daikin Industries Ltd. | 63,100 | 11,460,921 |
Daito Trust Construction Co. Ltd. | 14,800 | 1,402,710 |
Daiwa House Industry Co. Ltd. | 143,600 | 3,660,145 |
Daiwa House REIT Investment Corp., REIT | 461 | 980,855 |
Daiwa Securities Group, Inc. | 320,000 | 1,486,303 |
Denso Corp. | 108,700 | 6,561,524 |
Dentsu Group, Inc. | 48,500 | 1,747,690 |
Disco Corp. | 19,000 | 2,163,250 |
East Japan Railway Co. | 81,600 | 4,669,287 |
Eisai Co. Ltd. | 63,800 | 3,681,471 |
ENEOS Holdings, Inc. | 695,400 | 2,473,903 |
FANUC Corp. | 206,700 | 6,980,510 |
Fast Retailing Co. Ltd. | 40,500 | 9,590,466 |
Fuji Electric Co. Ltd. | 32,100 | 1,295,733 |
FUJIFILM Holdings Corp. | 86,300 | 4,497,954 |
Fujitsu Ltd. | 39,300 | 5,237,798 |
Fukuoka Financial Group, Inc. | 41,300 | 777,889 |
GLP J-REIT, REIT | 1,015 | 1,159,714 |
GMO Payment Gateway, Inc. | 9,600 | 750,834 |
Hakuhodo DY Holdings, Inc. | 65,200 | 768,274 |
Hamamatsu Photonics KK | 31,600 | 1,675,238 |
Hankyu Hanshin Holdings, Inc. | 51,900 | 1,620,386 |
Haseko Corp. | 48,800 | 595,766 |
Hikari Tsushin, Inc. | 4,300 | 586,714 |
Hirose Electric Co. Ltd. | 6,700 | 904,225 |
Hitachi Construction Machinery Co. Ltd. | 22,100 | 544,585 |
Hitachi Ltd. | 202,100 | 11,179,088 |
Honda Motor Co. Ltd. | 366,800 | 9,728,647 |
Hoshizaki Corp. | 25,500 | 898,140 |
Hoya Corp. | 77,000 | 8,073,838 |
Hulic Co. Ltd. | 128,500 | 1,106,392 |
Ibiden Co. Ltd. | 30,300 | 1,192,191 |
Idemitsu Kosan Co. Ltd. | 48,900 | 1,041,230 |
INVESTMENTS | SHARES | VALUE($) |
Japan — continued | ||
Iida Group Holdings Co. Ltd. | 37,900 | 673,835 |
Inpex Corp. | 226,900 | 2,482,979 |
Isuzu Motors Ltd. | 134,000 | 1,582,409 |
ITOCHU Corp. | 317,300 | 10,526,383 |
Itochu Techno-Solutions Corp. | 20,000 | 517,912 |
Japan Airlines Co. Ltd. | 31,000 | 591,374 |
Japan Airport Terminal Co. Ltd. | 19,900 | 975,160 |
Japan Exchange Group, Inc. | 113,600 | 1,844,612 |
Japan Metropolitan Fund Invest, REIT | 1,504 | 1,101,252 |
Japan Post Bank Co. Ltd. | 298,800 | 2,386,088 |
Japan Post Holdings Co. Ltd. | 519,900 | 4,279,778 |
Japan Post Insurance Co. Ltd. | 43,200 | 701,529 |
Japan Prime Realty Investment Corp., REIT | 213 | 553,836 |
Japan Real Estate Investment Corp., REIT | 298 | 1,180,796 |
Japan Tobacco, Inc. | 237,000 | 5,099,503 |
JFE Holdings, Inc. | 124,300 | 1,470,507 |
JSR Corp. | 45,000 | 1,044,155 |
Kajima Corp. | 102,500 | 1,356,131 |
Kakaku.com, Inc. | 27,100 | 372,861 |
Kansai Electric Power Co., Inc. (The) | 177,700 | 1,918,221 |
Kansai Paint Co. Ltd. | 55,700 | 785,258 |
Kao Corp. | 100,400 | 4,057,014 |
Kawasaki Heavy Industries Ltd. | 36,200 | 787,504 |
KDDI Corp. | 337,300 | 10,529,877 |
Keio Corp. | 26,200 | 973,067 |
Keisei Electric Railway Co. Ltd. | 37,200 | 1,312,748 |
Keyence Corp. | 43,100 | 19,436,216 |
Kikkoman Corp. | 41,900 | 2,481,893 |
Kintetsu Group Holdings Co. Ltd. | 41,200 | 1,390,800 |
Kirin Holdings Co. Ltd. | 179,200 | 2,911,161 |
Kobayashi Pharmaceutical Co. Ltd. | 12,000 | 748,824 |
Kobe Bussan Co. Ltd. | 30,600 | 855,833 |
Koei Tecmo Holdings Co. Ltd. | 26,000 | 478,134 |
Koito Manufacturing Co. Ltd. | 55,300 | 1,069,693 |
Komatsu Ltd. | 209,400 | 5,207,751 |
Konami Group Corp. | 21,500 | 1,057,886 |
Kose Corp. | 7,700 | 898,554 |
Kubota Corp. | 243,500 | 3,689,756 |
Kurita Water Industries Ltd. | 22,900 | 959,713 |
Kyocera Corp. | 74,900 | 3,931,318 |
Kyowa Kirin Co. Ltd. | 54,500 | 1,212,701 |
Kyushu Railway Co. | 33,700 | 765,286 |
Lasertec Corp. | 16,700 | 2,271,969 |
Lawson, Inc. | 10,800 | 490,554 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 73 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Japan — continued | ||
Lion Corp. | 62,700 | 683,544 |
Lixil Corp. | 61,900 | 974,370 |
M3, Inc. | 91,900 | 2,255,775 |
Makita Corp. | 60,300 | 1,701,106 |
Marubeni Corp. | 369,800 | 5,248,645 |
Marui Group Co. Ltd. | 45,100 | 718,562 |
MatsukiyoCocokara & Co. | 30,800 | 1,649,336 |
Mazda Motor Corp. | 128,800 | 1,165,574 |
McDonald's Holdings Co. Japan Ltd. | 18,400 | 766,548 |
Medipal Holdings Corp. | 45,400 | 693,618 |
MEIJI Holdings Co. Ltd. | 60,600 | 1,462,261 |
MINEBEA MITSUMI, Inc. | 87,200 | 1,614,825 |
MISUMI Group, Inc. | 61,100 | 1,541,382 |
Mitsubishi Chemical Group Corp. | 307,300 | 1,802,820 |
Mitsubishi Corp. | 317,300 | 11,764,174 |
Mitsubishi Electric Corp. | 462,500 | 5,734,482 |
Mitsubishi Estate Co. Ltd. | 271,000 | 3,339,886 |
Mitsubishi Gas Chemical Co., Inc. | 44,200 | 643,485 |
Mitsubishi HC Capital, Inc. | 170,700 | 886,059 |
Mitsubishi Heavy Industries Ltd. | 72,700 | 2,756,802 |
Mitsubishi Motors Corp. * | 147,700 | 567,705 |
Mitsubishi UFJ Financial Group, Inc. | 2,631,000 | 16,468,836 |
Mitsui & Co. Ltd. | 342,700 | 10,698,652 |
Mitsui Chemicals, Inc. | 40,700 | 1,029,751 |
Mitsui Fudosan Co. Ltd. | 205,500 | 4,081,645 |
Mitsui OSK Lines Ltd. | 78,100 | 1,936,148 |
Mizuho Financial Group, Inc. | 546,700 | 7,924,869 |
MonotaRO Co. Ltd. | 52,800 | 798,806 |
MS&AD Insurance Group Holdings, Inc. | 95,800 | 3,144,379 |
Murata Manufacturing Co. Ltd. | 138,400 | 7,852,286 |
Nagoya Railroad Co. Ltd. | 42,500 | 685,616 |
NEC Corp. | 58,700 | 2,257,327 |
Nexon Co. Ltd. | 97,100 | 2,193,524 |
NGK Insulators Ltd. | 58,300 | 731,772 |
NIDEC Corp. | 114,100 | 5,645,905 |
Nihon M&A Center Holdings, Inc. | 64,100 | 489,970 |
Nikon Corp. | 75,000 | 775,280 |
Nintendo Co. Ltd. | 251,600 | 10,636,991 |
Nippon Building Fund, Inc., REIT | 367 | 1,538,910 |
Nippon Express Holdings, Inc. | 18,200 | 1,068,012 |
Nippon Paint Holdings Co. Ltd. | 229,700 | 2,072,409 |
Nippon Prologis REIT, Inc., REIT | 592 | 1,348,619 |
Nippon Sanso Holdings Corp. | 45,900 | 828,159 |
Nippon Shinyaku Co. Ltd. | 13,100 | 599,046 |
INVESTMENTS | SHARES | VALUE($) |
Japan — continued | ||
Nippon Steel Corp. | 204,800 | 4,374,000 |
Nippon Telegraph & Telephone Corp. | 257,400 | 7,854,298 |
Nippon Yusen KK | 110,000 | 2,600,280 |
Nissan Chemical Corp. | 30,400 | 1,351,038 |
Nissan Motor Co. Ltd. | 507,500 | 1,850,566 |
Nisshin Seifun Group, Inc. | 56,600 | 686,074 |
Nissin Foods Holdings Co. Ltd. | 17,300 | 1,667,929 |
Niterra Co. Ltd. | 37,000 | 775,514 |
Nitori Holdings Co. Ltd. | 18,600 | 2,368,448 |
Nitto Denko Corp. | 32,200 | 2,081,673 |
Nomura Holdings, Inc. | 647,500 | 2,321,224 |
Nomura Real Estate Holdings, Inc. | 24,700 | 615,500 |
Nomura Real Estate Master Fund, Inc., REIT | 1,016 | 1,188,828 |
Nomura Research Institute Ltd. | 96,100 | 2,417,833 |
NSK Ltd. | 105,800 | 597,338 |
NTT Data Corp. | 139,000 | 1,888,058 |
Obayashi Corp. | 154,800 | 1,290,532 |
Obic Co. Ltd. | 14,100 | 2,172,461 |
Odakyu Electric Railway Co. Ltd. | 75,500 | 1,054,608 |
Oji Holdings Corp. | 217,500 | 854,710 |
Olympus Corp. | 276,600 | 4,842,275 |
Omron Corp. | 44,600 | 2,616,198 |
Ono Pharmaceutical Co. Ltd. | 102,600 | 2,065,861 |
Open House Group Co. Ltd. | 15,300 | 611,583 |
Oracle Corp. | 7,200 | 516,735 |
Oriental Land Co. Ltd. | 250,500 | 8,864,992 |
ORIX Corp. | 252,500 | 4,295,662 |
Orix JREIT, Inc., REIT | 595 | 769,152 |
Osaka Gas Co. Ltd. | 89,800 | 1,485,401 |
Otsuka Corp. | 25,300 | 920,896 |
Otsuka Holdings Co. Ltd. | 120,100 | 4,085,894 |
Pan Pacific International Holdings Corp. | 114,600 | 2,141,522 |
Panasonic Holdings Corp. | 501,800 | 4,726,345 |
Persol Holdings Co. Ltd. | 40,900 | 843,334 |
Rakuten Group, Inc. | 197,700 | 986,118 |
Recruit Holdings Co. Ltd. | 365,300 | 10,247,983 |
Renesas Electronics Corp. * | 303,800 | 3,959,258 |
Resona Holdings, Inc. | 511,900 | 2,551,290 |
Resonac Holdings Corp. | 39,900 | 631,827 |
Ricoh Co. Ltd. | 130,700 | 1,082,161 |
Rinnai Corp. | 26,000 | 628,424 |
Rohm Co. Ltd. | 18,700 | 1,407,889 |
Santen Pharmaceutical Co. Ltd. | 83,400 | 701,697 |
SBI Holdings, Inc. | 58,800 | 1,148,409 |
74 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Japan — continued | ||
SBI Shinsei Bank Ltd. * | 12,800 | 229,696 |
SCSK Corp. | 32,800 | 495,208 |
Secom Co. Ltd. | 46,400 | 2,971,177 |
Sega Sammy Holdings, Inc. | 34,600 | 646,727 |
Seibu Holdings, Inc. | 58,700 | 656,993 |
Seiko Epson Corp. | 68,900 | 1,053,739 |
Sekisui Chemical Co. Ltd. | 92,300 | 1,313,655 |
Sekisui House Ltd. | 147,300 | 3,028,291 |
Seven & i Holdings Co. Ltd. | 171,900 | 7,790,070 |
SG Holdings Co. Ltd. | 104,900 | 1,509,493 |
Sharp Corp. * | 49,200 | 350,648 |
Shimadzu Corp. | 59,200 | 1,851,585 |
Shimano, Inc. | 17,900 | 2,768,280 |
Shimizu Corp. | 146,300 | 893,456 |
Shin-Etsu Chemical Co. Ltd. | 435,600 | 12,430,204 |
Shionogi & Co. Ltd. | 60,200 | 2,694,825 |
Shiseido Co. Ltd. | 86,000 | 4,310,818 |
SMC Corp. | 13,200 | 6,583,432 |
SoftBank Corp. | 597,700 | 6,729,392 |
SoftBank Group Corp. | 256,000 | 9,600,620 |
Sojitz Corp. | 44,880 | 945,241 |
Sompo Holdings, Inc. | 75,000 | 3,129,720 |
Sony Group Corp. | 271,700 | 24,581,717 |
Square Enix Holdings Co. Ltd. | 19,100 | 939,895 |
Stanley Electric Co. Ltd. | 32,200 | 726,364 |
Subaru Corp. | 132,500 | 2,162,641 |
SUMCO Corp. | 75,500 | 1,039,760 |
Sumitomo Chemical Co. Ltd. | 355,200 | 1,200,300 |
Sumitomo Corp. | 269,600 | 4,832,005 |
Sumitomo Electric Industries Ltd. | 171,100 | 2,183,623 |
Sumitomo Metal Mining Co. Ltd. | 58,800 | 2,170,232 |
Sumitomo Mitsui Financial Group, Inc. | 296,100 | 12,102,684 |
Sumitomo Mitsui Trust Holdings, Inc. | 79,500 | 2,865,794 |
Sumitomo Pharma Co. Ltd. | 40,500 | 254,082 |
Sumitomo Realty & Development Co. Ltd. | 102,600 | 2,395,631 |
Suntory Beverage & Food Ltd. | 27,200 | 1,023,955 |
Suzuki Motor Corp. | 105,900 | 3,692,572 |
Sysmex Corp. | 36,600 | 2,354,230 |
T&D Holdings, Inc. | 126,500 | 1,549,163 |
Taisei Corp. | 43,400 | 1,476,073 |
Taisho Pharmaceutical Holdings Co. Ltd. | 12,300 | 531,187 |
Takeda Pharmaceutical Co. Ltd. | 340,500 | 11,290,696 |
TDK Corp. | 83,500 | 2,870,641 |
Terumo Corp. | 161,000 | 4,821,273 |
INVESTMENTS | SHARES | VALUE($) |
Japan — continued | ||
TIS, Inc. | 49,400 | 1,356,510 |
Tobu Railway Co. Ltd. | 45,300 | 1,156,319 |
Toho Co. Ltd. | 27,200 | 1,080,562 |
Tokio Marine Holdings, Inc. | 439,100 | 8,828,999 |
Tokyo Century Corp. | 10,100 | 347,462 |
Tokyo Electric Power Co. Holdings, Inc. * | 171,800 | 615,974 |
Tokyo Electron Ltd. | 101,600 | 11,633,760 |
Tokyo Gas Co. Ltd. | 87,000 | 1,782,024 |
Tokyu Corp. | 134,600 | 1,900,017 |
Tokyu Fudosan Holdings Corp. | 130,200 | 660,738 |
Toppan, Inc. | 75,400 | 1,602,910 |
Toray Industries, Inc. | 351,200 | 1,990,356 |
Toshiba Corp. | 93,100 | 2,999,661 |
Tosoh Corp. | 70,100 | 936,557 |
TOTO Ltd. | 34,300 | 1,173,120 |
Toyo Suisan Kaisha Ltd. | 21,800 | 973,304 |
Toyota Industries Corp. | 44,300 | 2,574,623 |
Toyota Motor Corp. | 2,704,900 | 37,138,375 |
Toyota Tsusho Corp. | 50,900 | 2,115,776 |
Trend Micro, Inc. | 30,300 | 1,480,564 |
Unicharm Corp. | 94,900 | 3,831,108 |
United Urban Investment Corp., REIT | 664 | 737,252 |
USS Co. Ltd. | 46,700 | 784,746 |
Welcia Holdings Co. Ltd. | 22,000 | 460,615 |
West Japan Railway Co. | 52,400 | 2,271,108 |
Yakult Honsha Co. Ltd. | 34,300 | 2,579,840 |
Yamaha Corp. | 37,200 | 1,466,038 |
Yamaha Motor Co. Ltd. | 75,500 | 1,957,809 |
Yamato Holdings Co. Ltd. | 72,100 | 1,238,504 |
Yaskawa Electric Corp. | 57,300 | 2,333,579 |
Yokogawa Electric Corp. | 51,300 | 833,153 |
Z Holdings Corp. | 573,500 | 1,570,955 |
ZOZO, Inc. | 24,100 | 507,169 |
799,573,815 | ||
Jordan — 0.0% ^ | ||
Hikma Pharmaceuticals plc | 38,115 | 882,773 |
Luxembourg — 0.2% | ||
ArcelorMittal SA * | 122,844 | 3,489,955 |
Eurofins Scientific SE | 27,802 | 1,941,965 |
5,431,920 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 75 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Macau — 0.1% | ||
Galaxy Entertainment Group Ltd. * | 434,000 | 3,088,907 |
Sands China Ltd. * | 522,800 | 1,872,366 |
4,961,273 | ||
Mexico — 0.0% ^ | ||
Fresnillo plc | 39,663 | 354,951 |
Netherlands — 5.0% | ||
Adyen NV * (b) | 6,671 | 10,719,308 |
Aegon NV | 303,318 | 1,383,958 |
Akzo Nobel NV (a) | 37,544 | 3,114,584 |
Argenx SE * | 10,239 | 3,949,676 |
Argenx SE * | 1,708 | 665,868 |
ASM International NV | 9,988 | 3,626,137 |
ASML Holding NV | 86,796 | 55,081,844 |
HAL Trust | 19,074 | 2,618,454 |
Heineken Holding NV | 23,563 | 2,261,605 |
Heineken NV (a) | 50,845 | 5,838,285 |
ING Groep NV (a) | 802,318 | 9,950,576 |
JDE Peet's NV | 28,142 | 855,867 |
Koninklijke Ahold Delhaize NV | 213,946 | 7,356,461 |
Koninklijke KPN NV | 686,690 | 2,504,279 |
Koninklijke Philips NV | 191,469 | 4,042,296 |
NN Group NV | 63,515 | 2,368,497 |
Randstad NV | 26,933 | 1,463,425 |
Shell plc | 1,530,833 | 47,039,701 |
Universal Music Group NV | 163,989 | 3,582,737 |
Wolters Kluwer NV | 55,444 | 7,345,978 |
175,769,536 | ||
New Zealand — 0.2% | ||
Auckland International Airport Ltd. * | 259,191 | 1,419,163 |
Contact Energy Ltd. | 168,634 | 817,882 |
Fisher & Paykel Healthcare Corp. Ltd. | 124,701 | 2,138,985 |
Mercury NZ Ltd. | 139,229 | 546,881 |
Meridian Energy Ltd. | 261,190 | 884,570 |
Spark New Zealand Ltd. | 402,000 | 1,302,542 |
7,110,023 | ||
Norway — 0.7% | ||
Aker ASA, Class A (a) | 5,049 | 308,603 |
Aker BP ASA | 66,677 | 1,593,968 |
AutoStore Holdings Ltd. * (b) (c) | 213,387 | 459,560 |
DNB Bank ASA (a) | 193,599 | 3,405,422 |
Equinor ASA | 225,612 | 6,495,603 |
Gjensidige Forsikring ASA | 40,613 | 707,468 |
Kongsberg Gruppen ASA | 19,086 | 857,263 |
INVESTMENTS | SHARES | VALUE($) |
Norway — continued | ||
Leroy Seafood Group ASA | 59,354 | 312,545 |
Mowi ASA | 97,974 | 1,869,275 |
Norsk Hydro ASA | 293,997 | 2,163,543 |
Orkla ASA | 161,194 | 1,158,628 |
Salmar ASA | 14,332 | 636,749 |
Schibsted ASA, Class A | 15,921 | 282,675 |
Schibsted ASA, Class B | 21,449 | 347,300 |
Storebrand ASA | 101,618 | 784,036 |
Telenor ASA | 138,599 | 1,729,458 |
TOMRA Systems ASA | 50,354 | 772,143 |
Var Energi ASA (a) | 84,456 | 221,635 |
24,105,874 | ||
Poland — 0.3% | ||
Allegro.eu SA * (b) | 90,722 | 715,092 |
Bank Polska Kasa Opieki SA | 37,742 | 873,240 |
Dino Polska SA * (b) | 10,344 | 1,054,915 |
ING Bank Slaski SA * | 6,919 | 263,169 |
KGHM Polska Miedz SA | 29,283 | 842,342 |
LPP SA | 222 | 639,957 |
Polski Koncern Naftowy ORLEN SA * | 114,978 | 1,754,143 |
Powszechna Kasa Oszczednosci Bank Polski SA | 185,096 | 1,431,172 |
Powszechny Zaklad Ubezpieczen SA | 122,705 | 1,130,468 |
Santander Bank Polska SA | 7,243 | 589,136 |
9,293,634 | ||
Portugal — 0.2% | ||
EDP - Energias de Portugal SA | 631,817 | 3,481,312 |
Galp Energia SGPS SA * | 97,959 | 1,183,707 |
Jeronimo Martins SGPS SA | 59,429 | 1,499,704 |
6,164,723 | ||
Russia — 0.0% ^ | ||
Evraz plc ‡ * | 96,418 | 4,961 |
Singapore — 1.4% | ||
CapitaLand Ascendas, REIT | 723,400 | 1,556,703 |
CapitaLand Ascott Trust, REIT | 30,508 | 24,769 |
CapitaLand Integrated Commercial Trust, REIT | 1,081,037 | 1,650,677 |
Capitaland Investment Ltd. | 528,700 | 1,479,950 |
City Developments Ltd. | 109,500 | 572,826 |
DBS Group Holdings Ltd. | 394,300 | 9,743,139 |
Genting Singapore Ltd. | 1,223,900 | 1,041,204 |
Great Eastern Holdings Ltd. | 12,200 | 155,879 |
Jardine Cycle & Carriage Ltd. | 21,100 | 537,391 |
76 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Singapore — continued | ||
Keppel Corp. Ltd. | 300,000 | 1,393,016 |
Mapletree Pan Asia Commercial Trust, REIT | 496,200 | 657,291 |
Olam Group Ltd. | 231,500 | 279,421 |
Oversea-Chinese Banking Corp. Ltd. | 871,900 | 8,248,951 |
Singapore Airlines Ltd. | 280,650 | 1,234,379 |
Singapore Exchange Ltd. | 175,800 | 1,265,167 |
Singapore Technologies Engineering Ltd. | 335,200 | 912,524 |
Singapore Telecommunications Ltd. | 1,527,800 | 2,927,803 |
STMicroelectronics NV | 141,264 | 6,042,861 |
United Overseas Bank Ltd. | 331,800 | 7,046,755 |
UOL Group Ltd. | 99,500 | 519,079 |
Venture Corp. Ltd. | 58,500 | 747,382 |
48,037,167 | ||
South Africa — 0.3% | ||
Anglo American plc | 287,978 | 8,873,806 |
South Korea — 0.0% ^ | ||
Delivery Hero SE * (b) | 41,410 | 1,655,207 |
Spain — 2.5% | ||
Acciona SA * | 5,305 | 982,957 |
ACS Actividades de Construccion y Servicios SA | 47,574 | 1,635,707 |
Aena SME SA * (b) | 15,826 | 2,665,365 |
Amadeus IT Group SA * | 96,992 | 6,817,086 |
Banco Bilbao Vizcaya Argentaria SA | 1,298,274 | 9,504,649 |
Banco Santander SA (a) | 3,615,807 | 12,702,613 |
CaixaBank SA | 872,204 | 3,228,556 |
Cellnex Telecom SA (b) | 127,767 | 5,379,500 |
Corp. ACCIONA Energias Renovables SA * | 12,004 | 431,029 |
EDP Renovaveis SA * | 45,498 | 1,011,316 |
Endesa SA | 68,166 | 1,529,149 |
Ferrovial SA | 106,499 | 3,339,107 |
Grifols SA * | 63,099 | 649,516 |
Grifols SA (Preference), Class B * | 56,100 | 415,050 |
Iberdrola SA | 1,262,980 | 16,365,823 |
Industria de Diseno Textil SA (a) | 241,563 | 8,304,152 |
Mapfre SA | 211,493 | 423,647 |
Naturgy Energy Group SA | 39,544 | 1,231,253 |
Red Electrica Corp. SA | 93,196 | 1,694,428 |
Repsol SA | 285,786 | 4,198,113 |
Telefonica SA | 1,243,397 | 5,647,744 |
88,156,760 | ||
Sweden — 3.3% | ||
Alfa Laval AB | 63,265 | 2,321,024 |
INVESTMENTS | SHARES | VALUE($) |
Sweden — continued | ||
Assa Abloy AB, Class B | 213,522 | 5,087,376 |
Atlas Copco AB, Class A | 549,388 | 7,946,418 |
Atlas Copco AB, Class B | 336,055 | 4,310,512 |
Axfood AB | 23,273 | 577,570 |
Beijer Ref AB (a) | 70,912 | 1,159,953 |
Boliden AB * (a) | 58,887 | 2,104,439 |
Castellum AB (a) | 61,577 | 748,537 |
Electrolux AB, Class B | 48,372 | 729,697 |
Embracer Group AB * | 179,673 | 938,011 |
Epiroc AB, Class A | 134,791 | 2,700,278 |
Epiroc AB, Class B | 83,684 | 1,440,883 |
EQT AB | 71,202 | 1,533,561 |
Essity AB, Class A | 5,991 | 181,825 |
Essity AB, Class B | 129,765 | 3,932,566 |
Evolution AB (b) | 41,218 | 5,507,072 |
Fastighets AB Balder, Class B * | 139,918 | 651,433 |
Getinge AB, Class B | 47,058 | 1,194,374 |
H & M Hennes & Mauritz AB, Class B (a) | 154,097 | 2,259,183 |
Hexagon AB, Class B | 458,173 | 5,245,948 |
Holmen AB, Class B | 19,880 | 752,057 |
Husqvarna AB, Class B (a) | 89,048 | 768,594 |
Industrivarden AB, Class A | 39,296 | 1,124,382 |
Industrivarden AB, Class C (a) | 36,736 | 1,049,053 |
Indutrade AB | 57,072 | 1,370,407 |
Investment AB Latour, Class B | 29,228 | 632,836 |
Investor AB, Class A | 120,794 | 2,648,751 |
Investor AB, Class B | 392,259 | 8,426,959 |
Kinnevik AB, Class B * | 52,087 | 855,683 |
L E Lundbergforetagen AB, Class B | 13,704 | 657,534 |
Lifco AB, Class B | 45,478 | 1,037,103 |
Nibe Industrier AB, Class B | 330,121 | 3,696,323 |
Nordnet AB publ | 34,875 | 548,286 |
Saab AB, Class B | 17,478 | 981,377 |
Sagax AB, Class B | 40,433 | 991,772 |
Sagax AB, Class D | 21,365 | 56,438 |
Sandvik AB | 234,959 | 4,786,074 |
Securitas AB, Class B | 107,891 | 967,059 |
Skandinaviska Enskilda Banken AB, Class A | 366,462 | 4,166,958 |
Skandinaviska Enskilda Banken AB, Class C | 2,978 | 37,983 |
Skanska AB, Class B | 85,890 | 1,404,857 |
SKF AB, Class A | 3,079 | 55,669 |
SKF AB, Class B | 80,702 | 1,461,647 |
SSAB AB, Class A | 47,809 | 339,533 |
SSAB AB, Class B | 135,482 | 915,734 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 77 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Sweden — continued | ||
Svenska Cellulosa AB SCA, Class A | 6,598 | 90,130 |
Svenska Cellulosa AB SCA, Class B | 129,070 | 1,770,804 |
Svenska Handelsbanken AB, Class A | 330,777 | 2,923,998 |
Svenska Handelsbanken AB, Class B (a) | 7,444 | 81,793 |
Swedbank AB, Class A | 197,412 | 3,430,317 |
Swedish Orphan Biovitrum AB * | 43,357 | 1,055,114 |
Tele2 AB, Class B | 117,962 | 1,253,483 |
Telefonaktiebolaget LM Ericsson, Class A | 11,614 | 71,122 |
Telefonaktiebolaget LM Ericsson, Class B | 661,482 | 3,641,919 |
Telia Co. AB | 526,617 | 1,466,192 |
Trelleborg AB, Class B | 52,064 | 1,308,270 |
Volvo AB, Class A | 41,060 | 869,493 |
Volvo AB, Class B | 341,992 | 7,031,598 |
Volvo Car AB, Class B * | 115,105 | 475,123 |
115,773,085 | ||
Switzerland — 5.8% | ||
ABB Ltd. (Registered) | 368,016 | 13,275,678 |
Alcon, Inc. | 107,585 | 7,833,947 |
Baloise Holding AG (Registered) | 9,834 | 1,646,145 |
Barry Callebaut AG (Registered) | 770 | 1,644,019 |
Chocoladefabriken Lindt & Spruengli AG | 223 | 2,753,408 |
Chocoladefabriken Lindt & Spruengli AG (Registered) | 23 | 2,835,023 |
Cie Financiere Richemont SA (Registered) | 112,387 | 18,577,669 |
Credit Suisse Group AG (Registered) * | 815,969 | 734,247 |
DSM-Firmenich AG * | 37,630 | 4,924,324 |
EMS-Chemie Holding AG (Registered) * | 1,459 | 1,198,280 |
Geberit AG (Registered) | 7,724 | 4,399,298 |
Givaudan SA (Registered) | 1,711 | 5,985,023 |
Julius Baer Group Ltd. | 46,030 | 3,298,335 |
Kuehne + Nagel International AG (Registered) (a) | 12,220 | 3,620,250 |
Lonza Group AG (Registered) | 16,033 | 9,998,824 |
Mediclinic International plc | 87,023 | 545,518 |
Novartis AG (Registered) | 517,518 | 52,938,930 |
Partners Group Holding AG | 4,887 | 4,743,974 |
Schindler Holding AG | 8,768 | 1,959,401 |
Schindler Holding AG (Registered) | 4,477 | 956,389 |
SGS SA (Registered) | 32,667 | 2,956,214 |
Sika AG (Registered) | 33,101 | 9,143,258 |
Sonova Holding AG (Registered) | 11,059 | 3,507,100 |
Straumann Holding AG (Registered) | 25,062 | 3,770,594 |
Swatch Group AG (The) | 6,232 | 2,137,966 |
Swatch Group AG (The) (Registered) | 11,796 | 744,185 |
INVESTMENTS | SHARES | VALUE($) |
Switzerland — continued | ||
Swiss Life Holding AG (Registered) | 6,636 | 4,380,139 |
Swisscom AG (Registered) | 5,465 | 3,752,000 |
UBS Group AG (Registered) * | 758,850 | 15,444,545 |
Zurich Insurance Group AG | 32,395 | 15,710,028 |
205,414,711 | ||
United Arab Emirates — 0.0% ^ | ||
NMC Health plc ‡ * | 300 | — |
United Kingdom — 11.8% | ||
3i Group plc | 209,543 | 4,662,129 |
abrdn plc | 429,638 | 1,151,314 |
Admiral Group plc | 59,146 | 1,719,026 |
Ashtead Group plc | 96,737 | 5,577,482 |
Associated British Foods plc | 76,699 | 1,889,754 |
AstraZeneca plc | 333,604 | 49,094,161 |
Auto Trader Group plc (b) | 208,626 | 1,668,377 |
Aviva plc | 604,688 | 3,219,565 |
B&M European Value Retail SA | 183,343 | 1,106,833 |
BAE Systems plc | 657,751 | 8,379,737 |
Barclays plc | 3,247,292 | 6,541,385 |
Barratt Developments plc | 215,524 | 1,355,951 |
Berkeley Group Holdings plc | 24,106 | 1,349,025 |
BP plc | 3,935,997 | 26,406,585 |
British American Tobacco plc | 481,299 | 17,781,972 |
British Land Co. plc (The), REIT | 201,299 | 1,014,193 |
BT Group plc | 1,502,283 | 3,000,498 |
Bunzl plc | 72,703 | 2,894,094 |
Burberry Group plc | 87,169 | 2,845,369 |
Centrica plc | 1,271,862 | 1,827,604 |
CK Hutchison Holdings Ltd. | 576,500 | 3,854,151 |
CNH Industrial NV | 214,440 | 3,017,565 |
Coca-Cola Europacific Partners plc | 43,303 | 2,791,744 |
Compass Group plc | 384,395 | 10,140,709 |
ConvaTec Group plc (b) | 347,635 | 961,062 |
Croda International plc | 30,688 | 2,696,231 |
DCC plc | 21,748 | 1,353,094 |
Dechra Pharmaceuticals plc | 24,427 | 1,146,629 |
Diageo plc | 501,947 | 22,896,869 |
Direct Line Insurance Group plc | 281,432 | 608,300 |
DS Smith plc | 295,619 | 1,154,174 |
easyJet plc * | 122,005 | 765,444 |
Entain plc | 126,779 | 2,310,074 |
Halma plc | 81,739 | 2,377,247 |
Harbour Energy plc | 117,011 | 363,999 |
Hargreaves Lansdown plc | 75,322 | 762,579 |
78 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
United Kingdom — continued | ||
Hiscox Ltd. | 76,179 | 1,133,785 |
Howden Joinery Group plc | 124,601 | 1,074,108 |
HSBC Holdings plc | 4,299,075 | 30,984,937 |
Imperial Brands plc | 206,600 | 5,114,197 |
Informa plc | 304,765 | 2,770,643 |
InterContinental Hotels Group plc | 40,417 | 2,778,939 |
Intermediate Capital Group plc | 63,116 | 1,036,356 |
Intertek Group plc | 34,746 | 1,817,709 |
ITV plc | 777,517 | 791,372 |
J Sainsbury plc | 377,430 | 1,311,571 |
JD Sports Fashion plc | 531,352 | 1,078,414 |
Johnson Matthey plc | 42,831 | 1,058,083 |
Kingfisher plc | 419,420 | 1,359,381 |
Land Securities Group plc, REIT | 161,244 | 1,368,290 |
Legal & General Group plc | 1,286,037 | 3,794,482 |
Lloyds Banking Group plc | 14,483,048 | 8,798,768 |
London Stock Exchange Group plc | 81,730 | 8,581,100 |
M&G plc | 509,649 | 1,317,207 |
Melrose Industries plc | 290,971 | 1,498,819 |
National Grid plc | 834,556 | 11,965,802 |
NatWest Group plc | 1,089,169 | 3,587,831 |
Next plc | 27,830 | 2,361,287 |
Ocado Group plc * | 156,501 | 996,027 |
Pearson plc | 154,098 | 1,714,462 |
Pepco Group NV * (b) | 25,538 | 244,896 |
Persimmon plc | 68,748 | 1,137,759 |
Phoenix Group Holdings plc | 182,482 | 1,359,592 |
Reckitt Benckiser Group plc | 158,577 | 12,814,578 |
RELX plc | 426,809 | 14,220,719 |
Rentokil Initial plc | 542,562 | 4,319,474 |
Rightmove plc | 187,903 | 1,360,056 |
Rolls-Royce Holdings plc * | 1,801,539 | 3,451,153 |
Sage Group plc (The) | 236,996 | 2,444,124 |
Schroders plc | 197,199 | 1,207,826 |
Segro plc, REIT | 260,372 | 2,741,179 |
Severn Trent plc | 54,543 | 2,009,014 |
Smith & Nephew plc | 190,511 | 3,137,671 |
Smiths Group plc | 75,809 | 1,602,955 |
Spirax-Sarco Engineering plc | 15,851 | 2,215,019 |
SSE plc | 225,690 | 5,207,383 |
St. James's Place plc | 117,176 | 1,782,026 |
Standard Chartered plc | 523,517 | 4,147,895 |
Tate & Lyle plc | 86,465 | 886,599 |
Taylor Wimpey plc | 783,034 | 1,263,713 |
INVESTMENTS | SHARES | VALUE($) |
United Kingdom — continued | ||
Tesco plc | 1,594,303 | 5,636,583 |
Unilever plc | 566,072 | 31,520,096 |
United Utilities Group plc | 146,808 | 1,994,310 |
Vodafone Group plc | 5,769,919 | 6,930,402 |
Weir Group plc (The) | 55,715 | 1,289,432 |
Whitbread plc | 43,370 | 1,775,222 |
Wise plc, Class A * | 101,156 | 700,387 |
WPP plc | 231,463 | 2,697,567 |
419,076,125 | ||
United States — 7.2% | ||
CSL Ltd. | 103,822 | 20,726,689 |
Experian plc | 208,737 | 7,390,309 |
Ferguson plc | 44,480 | 6,284,936 |
GSK plc | 862,777 | 15,558,600 |
Haleon plc | 1,093,504 | 4,807,808 |
Holcim AG * | 122,001 | 8,060,938 |
James Hardie Industries plc, CHDI | 95,674 | 2,134,976 |
Nestle SA (Registered) | 592,071 | 75,956,536 |
QIAGEN NV * | 49,698 | 2,222,532 |
Roche Holding AG | 151,259 | 47,365,275 |
Roche Holding AG | 5,726 | 1,937,687 |
Sanofi | 247,025 | 26,621,453 |
Schneider Electric SE | 122,956 | 21,442,530 |
Stellantis NV | 465,697 | 7,724,320 |
Swiss Re AG | 62,206 | 6,264,388 |
Tenaris SA | 98,813 | 1,413,547 |
255,912,524 | ||
Total Common Stocks (Cost $3,211,937,245) | 3,498,233,152 | |
Short-Term Investments — 2.7% | ||
Investment Companies — 0.5% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (d) (e)(Cost $18,160,002) | 18,160,002 | 18,160,002 |
Investment of Cash Collateral from Securities Loaned — 2.2% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.01% (d) (e) | 67,998,827 | 68,005,627 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 79 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Short-Term Investments — continued | ||
Investment of Cash Collateral from Securities Loaned — continued | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (d) (e) | 8,624,220 | 8,624,220 |
Total Investment of Cash Collateral from Securities Loaned (Cost $76,636,647) | 76,629,847 | |
Total Short-Term Investments (Cost $94,796,649) | 94,789,849 | |
Total Investments — 101.5% (Cost $3,306,733,894) | 3,593,023,001 | |
Liabilities in Excess of Other Assets — (1.5)% | (52,926,873 ) | |
NET ASSETS — 100.0% | 3,540,096,128 |
Percentages indicated are based on net assets. |
Abbreviations | |
APAC | Asia Pacific |
CHDI | Clearing House Electronic Subregister System (CHESS) Depository Interest |
CVA | Dutch Certification |
OYJ | Public Limited Company |
Preference | A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference shares may also have liquidation preference. |
REIT | Real Estate Investment Trust |
SCA | Limited partnership with share capital |
SGPS | Holding company |
^ | Amount rounds to less than 0.1% of net assets. | |
‡ | Value determined using significant unobservable inputs. | |
* | Non-income producing security. | |
(a) | The security or a portion of this security is on loan at April 30, 2023. The total value of securities on loan at April 30, 2023 is $72,676,586. | |
(b) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. | |
(c) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. |
(d) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(e) | The rate shown is the current yield as of April 30, 2023. |
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Pharmaceuticals | 9.4 % |
Banks | 8.8 |
Insurance | 5.1 |
Oil, Gas & Consumable Fuels | 4.3 |
Food Products | 3.3 |
Textiles, Apparel & Luxury Goods | 3.3 |
Metals & Mining | 3.3 |
Machinery | 3.0 |
Automobiles | 2.9 |
Chemicals | 2.9 |
Semiconductors & Semiconductor Equipment | 2.8 |
Capital Markets | 2.5 |
Personal Care Products | 2.1 |
Beverages | 2.1 |
Health Care Equipment & Supplies | 2.1 |
Diversified Telecommunication Services | 1.9 |
Trading Companies & Distributors | 1.9 |
Electric Utilities | 1.8 |
Electrical Equipment | 1.8 |
Hotels, Restaurants & Leisure | 1.7 |
Aerospace & Defense | 1.6 |
Industrial Conglomerates | 1.5 |
Professional Services | 1.5 |
Electronic Equipment, Instruments & Components | 1.4 |
Consumer Staples Distribution & Retail | 1.4 |
Financial Services | 1.3 |
Software | 1.3 |
Household Durables | 1.2 |
Real Estate Management & Development | 1.2 |
Building Products | 1.0 |
Broadline Retail | 1.0 |
Wireless Telecommunication Services | 1.0 |
Others (each less than 1.0%) | 15.0 |
Short-Term Investments | 2.6 |
80 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
MSCI EAFE E-Mini Index | 391 | 06/16/2023 | USD | 42,036,410 | 2,027,686 |
Abbreviations | |
EAFE | Europe, Australasia and Far East |
MSCI | Morgan Stanley Capital International |
USD | United States Dollar |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 81 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 98.7% | ||
Air Freight & Logistics — 0.5% | ||
Nippon Express Holdings, Inc. | 168,500 | 9,887,911 |
SG Holdings Co. Ltd. | 963,200 | 13,860,280 |
Yamato Holdings Co. Ltd. | 661,300 | 11,359,537 |
35,107,728 | ||
Automobile Components — 2.2% | ||
Aisin Corp. | 361,200 | 10,601,752 |
Bridgestone Corp. | 1,215,300 | 48,804,450 |
Denso Corp. | 997,700 | 60,224,774 |
Koito Manufacturing Co. Ltd. | 508,900 | 9,843,885 |
Niterra Co. Ltd. | 339,300 | 7,111,676 |
Stanley Electric Co. Ltd. | 298,100 | 6,724,509 |
Sumitomo Electric Industries Ltd. | 1,571,600 | 20,057,174 |
163,368,220 | ||
Automobiles — 7.4% | ||
Honda Motor Co. Ltd. | 3,371,200 | 89,414,437 |
Isuzu Motors Ltd. | 1,231,300 | 14,540,450 |
Mazda Motor Corp. | 1,188,700 | 10,757,129 |
Mitsubishi Motors Corp. * | 1,357,400 | 5,217,350 |
Nissan Motor Co. Ltd. | 4,678,900 | 17,061,311 |
Subaru Corp. | 1,218,300 | 19,884,871 |
Suzuki Motor Corp. | 971,900 | 33,888,673 |
Toyota Motor Corp. | 24,870,300 | 341,470,116 |
Yamaha Motor Co. Ltd. | 692,700 | 17,962,570 |
550,196,907 | ||
Banks — 5.9% | ||
Bank of Kyoto Ltd. (The) | 150,200 | 7,390,207 |
Chiba Bank Ltd. (The) | 1,452,500 | 9,484,872 |
Concordia Financial Group Ltd. | 2,394,000 | 9,083,696 |
Fukuoka Financial Group, Inc. | 377,800 | 7,115,895 |
Japan Post Bank Co. Ltd. | 2,746,800 | 21,934,763 |
Mitsubishi UFJ Financial Group, Inc. | 24,192,500 | 151,433,795 |
Mizuho Financial Group, Inc. | 5,027,600 | 72,879,228 |
Resona Holdings, Inc. | 4,707,800 | 23,463,498 |
SBI Shinsei Bank Ltd. * | 118,300 | 2,122,890 |
Sumitomo Mitsui Financial Group, Inc. | 2,722,000 | 111,258,042 |
Sumitomo Mitsui Trust Holdings, Inc. | 729,200 | 26,286,001 |
442,452,887 | ||
Beverages — 1.0% | ||
Asahi Group Holdings Ltd. | 1,003,100 | 38,753,866 |
Kirin Holdings Co. Ltd. | 1,647,100 | 26,757,661 |
Suntory Beverage & Food Ltd. | 251,300 | 9,460,290 |
74,971,817 |
INVESTMENTS | SHARES | VALUE($) |
Broadline Retail — 0.4% | ||
Pan Pacific International Holdings Corp. | 1,055,400 | 19,722,188 |
Rakuten Group, Inc. | 1,826,500 | 9,110,498 |
28,832,686 | ||
Building Products — 1.9% | ||
AGC, Inc. | 450,400 | 16,793,104 |
Daikin Industries Ltd. | 580,600 | 105,455,000 |
Lixil Corp. | 568,800 | 8,953,504 |
TOTO Ltd. | 315,300 | 10,783,811 |
141,985,419 | ||
Capital Markets — 0.8% | ||
Daiwa Securities Group, Inc. | 2,951,400 | 13,708,357 |
Japan Exchange Group, Inc. | 1,046,700 | 16,996,085 |
Nomura Holdings, Inc. | 5,954,000 | 21,344,507 |
SBI Holdings, Inc. | 538,400 | 10,515,361 |
62,564,310 | ||
Chemicals — 3.8% | ||
Asahi Kasei Corp. | 2,759,800 | 19,492,909 |
JSR Corp. | 413,000 | 9,583,024 |
Kansai Paint Co. Ltd. | 512,300 | 7,222,396 |
Mitsubishi Chemical Group Corp. | 2,832,500 | 16,617,269 |
Mitsubishi Gas Chemical Co., Inc. | 405,300 | 5,900,552 |
Mitsui Chemicals, Inc. | 373,100 | 9,439,805 |
Nippon Paint Holdings Co. Ltd. | 2,112,300 | 19,057,685 |
Nippon Sanso Holdings Corp. | 420,500 | 7,586,950 |
Nissan Chemical Corp. | 280,000 | 12,443,774 |
Nitto Denko Corp. | 296,600 | 19,174,666 |
Resonac Holdings Corp. | 365,600 | 5,789,369 |
Shin-Etsu Chemical Co. Ltd. | 4,007,700 | 114,363,013 |
Sumitomo Chemical Co. Ltd. | 3,277,800 | 11,076,415 |
Toray Industries, Inc. | 3,230,000 | 18,305,381 |
Tosoh Corp. | 643,400 | 8,596,015 |
284,649,223 | ||
Commercial Services & Supplies — 0.8% | ||
Dai Nippon Printing Co. Ltd. | 533,200 | 15,327,432 |
Secom Co. Ltd. | 425,200 | 27,227,254 |
Toppan, Inc. | 691,700 | 14,704,684 |
57,259,370 | ||
Construction & Engineering — 0.6% | ||
Kajima Corp. | 941,800 | 12,460,524 |
Obayashi Corp. | 1,428,100 | 11,905,742 |
82 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Construction & Engineering — continued | ||
Shimizu Corp. | 1,342,900 | 8,201,104 |
Taisei Corp. | 398,100 | 13,539,741 |
46,107,111 | ||
Consumer Finance — 0.1% | ||
Acom Co. Ltd. | 930,400 | 2,279,610 |
Marui Group Co. Ltd. | 413,500 | 6,588,148 |
8,867,758 | ||
Consumer Staples Distribution & Retail — 1.9% | ||
Aeon Co. Ltd. | 1,725,900 | 35,177,296 |
Cosmos Pharmaceutical Corp. | 42,800 | 4,209,603 |
Kobe Bussan Co. Ltd. | 281,900 | 7,884,295 |
Lawson, Inc. | 99,700 | 4,528,539 |
MatsukiyoCocokara & Co. | 283,300 | 15,170,675 |
Seven & i Holdings Co. Ltd. | 1,579,100 | 71,560,786 |
Welcia Holdings Co. Ltd. | 203,000 | 4,250,223 |
142,781,417 | ||
Diversified REITs — 0.4% | ||
Daiwa House REIT Investment Corp. | 4,229 | 8,997,912 |
Nomura Real Estate Master Fund, Inc. | 9,334 | 10,921,773 |
United Urban Investment Corp. | 6,136 | 6,812,920 |
26,732,605 | ||
Diversified Telecommunication Services — 1.0% | ||
Nippon Telegraph & Telephone Corp. | 2,365,900 | 72,193,019 |
Electric Utilities — 0.5% | ||
Chubu Electric Power Co., Inc. | 1,501,000 | 16,739,699 |
Kansai Electric Power Co., Inc. (The) | 1,636,000 | 17,660,155 |
Tokyo Electric Power Co. Holdings, Inc. * | 1,590,300 | 5,701,885 |
40,101,739 | ||
Electrical Equipment — 1.6% | ||
Fuji Electric Co. Ltd. | 295,700 | 11,936,083 |
Mitsubishi Electric Corp. | 4,251,500 | 52,713,843 |
NIDEC Corp. | 1,050,900 | 52,000,717 |
116,650,643 | ||
Electronic Equipment, Instruments & Components — 5.3% | ||
Hamamatsu Photonics KK | 291,000 | 15,427,031 |
Hirose Electric Co. Ltd. | 61,800 | 8,340,460 |
Ibiden Co. Ltd. | 279,100 | 10,981,534 |
Keyence Corp. | 395,400 | 178,308,120 |
Kyocera Corp. | 687,200 | 36,069,446 |
Murata Manufacturing Co. Ltd. | 1,270,700 | 72,094,656 |
Omron Corp. | 408,800 | 23,979,862 |
INVESTMENTS | SHARES | VALUE($) |
Electronic Equipment, Instruments & Components — continued | ||
Shimadzu Corp. | 544,400 | 17,027,076 |
TDK Corp. | 769,700 | 26,461,461 |
Yokogawa Electric Corp. | 473,200 | 7,685,144 |
396,374,790 | ||
Entertainment — 2.2% | ||
Capcom Co. Ltd. | 316,500 | 11,893,314 |
Koei Tecmo Holdings Co. Ltd. | 240,100 | 4,415,387 |
Konami Group Corp. | 198,500 | 9,766,994 |
Nexon Co. Ltd. | 892,600 | 20,164,153 |
Nintendo Co. Ltd. | 2,314,000 | 97,829,881 |
Square Enix Holdings Co. Ltd. | 176,900 | 8,705,097 |
Toho Co. Ltd. | 251,500 | 9,991,226 |
162,766,052 | ||
Financial Services — 0.8% | ||
GMO Payment Gateway, Inc. | 88,500 | 6,921,749 |
Mitsubishi HC Capital, Inc. | 1,568,000 | 8,139,074 |
ORIX Corp. | 2,322,400 | 39,509,884 |
Tokyo Century Corp. | 93,100 | 3,202,842 |
57,773,549 | ||
Food Products — 1.7% | ||
Ajinomoto Co., Inc. | 1,063,300 | 38,240,908 |
Kikkoman Corp. | 383,200 | 22,698,367 |
MEIJI Holdings Co. Ltd. | 558,600 | 13,478,859 |
Nisshin Seifun Group, Inc. | 517,700 | 6,275,274 |
Nissin Foods Holdings Co. Ltd. | 160,800 | 15,503,063 |
Toyo Suisan Kaisha Ltd. | 201,600 | 9,000,826 |
Yakult Honsha Co. Ltd. | 314,900 | 23,684,885 |
128,882,182 | ||
Gas Utilities — 0.4% | ||
Osaka Gas Co. Ltd. | 824,500 | 13,638,228 |
Tokyo Gas Co. Ltd. | 800,400 | 16,394,618 |
30,032,846 | ||
Ground Transportation — 3.0% | ||
Central Japan Railway Co. | 408,300 | 50,547,040 |
East Japan Railway Co. | 748,400 | 42,824,684 |
Hankyu Hanshin Holdings, Inc. | 478,100 | 14,926,910 |
Keio Corp. | 242,300 | 8,999,011 |
Keisei Electric Railway Co. Ltd. | 341,100 | 12,037,054 |
Kintetsu Group Holdings Co. Ltd. | 376,900 | 12,723,121 |
Kyushu Railway Co. | 311,400 | 7,071,515 |
Nagoya Railroad Co. Ltd. | 388,700 | 6,270,560 |
Odakyu Electric Railway Co. Ltd. (a) | 692,400 | 9,671,668 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 83 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Ground Transportation — continued | ||
Seibu Holdings, Inc. | 537,300 | 6,013,666 |
Tobu Railway Co. Ltd. | 415,800 | 10,613,627 |
Tokyu Corp. | 1,237,100 | 17,462,937 |
West Japan Railway Co. | 482,900 | 20,929,737 |
220,091,530 | ||
Health Care Equipment & Supplies — 2.6% | ||
Asahi Intecc Co. Ltd. (a) | 467,800 | 8,465,426 |
Hoya Corp. | 707,200 | 74,153,486 |
Olympus Corp. | 2,545,100 | 44,555,582 |
Sysmex Corp. | 336,000 | 21,612,607 |
Terumo Corp. | 1,480,700 | 44,340,734 |
193,127,835 | ||
Health Care Providers & Services — 0.1% | ||
Medipal Holdings Corp. | 416,700 | 6,366,310 |
Health Care Technology — 0.3% | ||
M3, Inc. | 846,200 | 20,770,807 |
Hotels, Restaurants & Leisure — 1.2% | ||
McDonald's Holdings Co. Japan Ltd. (a) | 171,000 | 7,123,901 |
Oriental Land Co. Ltd. | 2,304,000 | 81,536,689 |
88,660,590 | ||
Household Durables — 4.6% | ||
Haseko Corp. | 446,800 | 5,454,679 |
Iida Group Holdings Co. Ltd. | 347,900 | 6,185,417 |
Nikon Corp. | 687,700 | 7,108,806 |
Open House Group Co. Ltd. | 140,800 | 5,628,163 |
Panasonic Holdings Corp. | 4,615,600 | 43,473,332 |
Rinnai Corp. | 236,900 | 5,725,914 |
Sekisui Chemical Co. Ltd. | 848,900 | 12,081,929 |
Sekisui House Ltd. | 1,355,800 | 27,873,431 |
Sharp Corp. * | 450,800 | 3,212,853 |
Sony Group Corp. | 2,496,400 | 225,858,663 |
342,603,187 | ||
Household Products — 0.6% | ||
Lion Corp. | 579,500 | 6,317,608 |
Unicharm Corp. | 873,100 | 35,246,997 |
41,564,605 | ||
Industrial Conglomerates — 1.8% | ||
Hikari Tsushin, Inc. | 40,200 | 5,485,092 |
Hitachi Ltd. | 1,857,100 | 102,724,811 |
Toshiba Corp. | 858,100 | 27,647,791 |
135,857,694 |
INVESTMENTS | SHARES | VALUE($) |
Industrial REITs — 0.3% | ||
GLP J-REIT | 9,328 | 10,657,945 |
Nippon Prologis REIT, Inc. | 5,435 | 12,381,324 |
23,039,269 | ||
Insurance — 3.2% | ||
Dai-ichi Life Holdings, Inc. | 2,041,500 | 37,973,492 |
Japan Post Holdings Co. Ltd. | 4,779,400 | 39,343,661 |
Japan Post Insurance Co. Ltd. | 396,200 | 6,433,928 |
MS&AD Insurance Group Holdings, Inc. | 881,100 | 28,919,750 |
Sompo Holdings, Inc. | 687,800 | 28,701,619 |
T&D Holdings, Inc. | 1,166,600 | 14,286,592 |
Tokio Marine Holdings, Inc. | 4,038,400 | 81,200,245 |
236,859,287 | ||
Interactive Media & Services — 0.2% | ||
Kakaku.com, Inc. | 248,200 | 3,414,915 |
Z Holdings Corp. | 5,288,900 | 14,487,574 |
17,902,489 | ||
IT Services — 2.1% | ||
Fujitsu Ltd. | 360,200 | 48,006,488 |
Itochu Techno-Solutions Corp. | 185,000 | 4,790,684 |
NEC Corp. | 539,500 | 20,746,644 |
Nomura Research Institute Ltd. | 883,900 | 22,238,524 |
NTT Data Corp. | 1,276,900 | 17,344,324 |
Obic Co. Ltd. | 130,300 | 20,076,001 |
Otsuka Corp. | 232,600 | 8,466,415 |
SCSK Corp. | 303,400 | 4,580,678 |
TIS, Inc. | 452,600 | 12,428,271 |
158,678,029 | ||
Leisure Products — 1.0% | ||
Bandai Namco Holdings, Inc. | 1,319,100 | 29,963,912 |
Sega Sammy Holdings, Inc. | 319,900 | 5,979,418 |
Shimano, Inc. | 165,900 | 25,656,848 |
Yamaha Corp. | 340,900 | 13,434,745 |
75,034,923 | ||
Machinery — 5.1% | ||
Daifuku Co. Ltd. | 751,600 | 13,848,069 |
FANUC Corp. | 1,898,900 | 64,128,158 |
Hitachi Construction Machinery Co. Ltd. | 204,000 | 5,026,943 |
Hoshizaki Corp. | 234,500 | 8,259,365 |
Kawasaki Heavy Industries Ltd. | 332,200 | 7,226,766 |
Komatsu Ltd. | 1,926,500 | 47,911,807 |
Kubota Corp. | 2,239,300 | 33,932,115 |
Kurita Water Industries Ltd. | 211,200 | 8,851,154 |
84 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Machinery — continued | ||
Makita Corp. | 554,900 | 15,654,122 |
MINEBEA MITSUMI, Inc. | 803,000 | 14,870,467 |
MISUMI Group, Inc. | 563,900 | 14,225,622 |
Mitsubishi Heavy Industries Ltd. | 667,500 | 25,311,765 |
NGK Insulators Ltd. | 533,400 | 6,695,144 |
NSK Ltd. | 970,900 | 5,481,623 |
SMC Corp. | 121,600 | 60,647,371 |
Toyota Industries Corp. | 406,900 | 23,648,173 |
Yaskawa Electric Corp. | 527,400 | 21,478,704 |
377,197,368 | ||
Marine Transportation — 0.6% | ||
Mitsui OSK Lines Ltd. (a) | 717,100 | 17,777,355 |
Nippon Yusen KK (a) | 1,010,600 | 23,889,484 |
41,666,839 | ||
Media — 0.4% | ||
CyberAgent, Inc. | 820,900 | 7,163,667 |
Dentsu Group, Inc. | 444,100 | 16,003,075 |
Hakuhodo DY Holdings, Inc. | 601,700 | 7,090,034 |
30,256,776 | ||
Metals & Mining — 1.0% | ||
JFE Holdings, Inc. | 1,142,900 | 13,520,853 |
Nippon Steel Corp. | 1,881,100 | 40,175,446 |
Sumitomo Metal Mining Co. Ltd. | 540,500 | 19,949,158 |
73,645,457 | ||
Office REITs — 0.5% | ||
Japan Prime Realty Investment Corp. | 1,970 | 5,122,335 |
Japan Real Estate Investment Corp. | 2,745 | 10,876,792 |
Nippon Building Fund, Inc. | 3,365 | 14,110,172 |
Orix JREIT, Inc. | 5,457 | 7,054,221 |
37,163,520 | ||
Oil, Gas & Consumable Fuels — 0.7% | ||
ENEOS Holdings, Inc. | 6,394,500 | 22,748,594 |
Idemitsu Kosan Co. Ltd. | 448,252 | 9,544,650 |
Inpex Corp. | 2,085,700 | 22,823,926 |
55,117,170 | ||
Paper & Forest Products — 0.1% | ||
Oji Holdings Corp. | 2,008,200 | 7,891,624 |
Passenger Airlines — 0.2% | ||
ANA Holdings, Inc. * (a) | 316,300 | 6,899,468 |
Japan Airlines Co. Ltd. | 285,800 | 5,452,090 |
12,351,558 |
INVESTMENTS | SHARES | VALUE($) |
Personal Care Products — 1.2% | ||
Kao Corp. | 922,400 | 37,272,802 |
Kobayashi Pharmaceutical Co. Ltd. | 110,100 | 6,870,463 |
Kose Corp. | 70,800 | 8,262,025 |
Shiseido Co. Ltd. | 791,700 | 39,684,591 |
92,089,881 | ||
Pharmaceuticals — 6.3% | ||
Astellas Pharma, Inc. | 3,635,100 | 54,761,199 |
Chugai Pharmaceutical Co. Ltd. | 1,262,900 | 32,589,969 |
Daiichi Sankyo Co. Ltd. | 3,854,600 | 132,269,116 |
Eisai Co. Ltd. | 587,400 | 33,894,926 |
Kyowa Kirin Co. Ltd. | 502,100 | 11,172,427 |
Nippon Shinyaku Co. Ltd. | 121,300 | 5,546,890 |
Ono Pharmaceutical Co. Ltd. | 942,300 | 18,973,302 |
Otsuka Holdings Co. Ltd. | 1,104,200 | 37,565,729 |
Santen Pharmaceutical Co. Ltd. | 768,600 | 6,466,716 |
Shionogi & Co. Ltd. | 554,300 | 24,812,986 |
Sumitomo Pharma Co. Ltd. | 377,500 | 2,368,298 |
Taisho Pharmaceutical Holdings Co. Ltd. | 113,300 | 4,892,964 |
Takeda Pharmaceutical Co. Ltd. | 3,132,100 | 103,857,820 |
469,172,342 | ||
Professional Services — 1.4% | ||
Nihon M&A Center Holdings, Inc. | 593,800 | 4,538,915 |
Persol Holdings Co. Ltd. | 374,300 | 7,717,847 |
Recruit Holdings Co. Ltd. | 3,357,900 | 94,201,208 |
106,457,970 | ||
Real Estate Management & Development — 2.1% | ||
Daito Trust Construction Co. Ltd. | 136,600 | 12,946,632 |
Daiwa House Industry Co. Ltd. | 1,319,700 | 33,637,142 |
Hulic Co. Ltd. | 1,186,200 | 10,213,245 |
Mitsubishi Estate Co. Ltd. | 2,490,500 | 30,693,678 |
Mitsui Fudosan Co. Ltd. | 1,888,100 | 37,501,479 |
Nomura Real Estate Holdings, Inc. | 227,500 | 5,669,079 |
Sumitomo Realty & Development Co. Ltd. | 942,400 | 22,004,317 |
Tokyu Fudosan Holdings Corp. | 1,197,400 | 6,076,559 |
158,742,131 | ||
Residential REITs — 0.1% | ||
Advance Residence Investment Corp. | 2,745 | 7,122,189 |
Retail REITs — 0.1% | ||
Japan Metropolitan Fund Invest | 13,837 | 10,131,665 |
Semiconductors & Semiconductor Equipment — 3.2% | ||
Advantest Corp. | 359,800 | 28,039,903 |
Disco Corp. | 175,700 | 20,004,369 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 85 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Semiconductors & Semiconductor Equipment — continued | ||
Lasertec Corp. | 153,100 | 20,828,647 |
Renesas Electronics Corp. * | 2,791,500 | 36,380,082 |
Rohm Co. Ltd. | 173,200 | 13,039,914 |
SUMCO Corp. | 692,600 | 9,538,249 |
Tokyo Electron Ltd. | 933,600 | 106,902,342 |
234,733,506 | ||
Software — 0.3% | ||
Oracle Corp. | 66,100 | 4,743,918 |
Trend Micro, Inc. | 279,000 | 13,632,914 |
18,376,832 | ||
Specialty Retail — 1.7% | ||
ABC-Mart, Inc. | 62,000 | 3,523,383 |
Fast Retailing Co. Ltd. | 371,200 | 87,900,768 |
Nitori Holdings Co. Ltd. | 172,000 | 21,901,777 |
USS Co. Ltd. | 427,700 | 7,187,067 |
ZOZO, Inc. | 221,500 | 4,661,325 |
125,174,320 | ||
Technology Hardware, Storage & Peripherals — 1.6% | ||
Brother Industries Ltd. | 509,900 | 8,008,107 |
Canon, Inc. | 2,059,100 | 49,042,323 |
FUJIFILM Holdings Corp. | 794,500 | 41,409,318 |
Ricoh Co. Ltd. | 1,206,900 | 9,992,805 |
Seiko Epson Corp. | 632,800 | 9,677,878 |
118,130,431 | ||
Textiles, Apparel & Luxury Goods — 0.1% | ||
Asics Corp. | 375,300 | 10,490,135 |
Tobacco — 0.6% | ||
Japan Tobacco, Inc. | 2,177,600 | 46,855,178 |
Trading Companies & Distributors — 5.8% | ||
ITOCHU Corp. | 2,918,100 | 96,807,559 |
Marubeni Corp. | 3,401,500 | 48,278,166 |
Mitsubishi Corp. | 2,918,500 | 108,205,935 |
Mitsui & Co. Ltd. | 3,152,100 | 98,404,499 |
MonotaRO Co. Ltd. (a) | 486,100 | 7,354,158 |
Sojitz Corp. | 411,700 | 8,671,029 |
Sumitomo Corp. | 2,477,700 | 44,407,484 |
Toyota Tsusho Corp. | 469,600 | 19,520,007 |
431,648,837 |
INVESTMENTS | SHARES | VALUE($) |
Transportation Infrastructure — 0.1% | ||
Japan Airport Terminal Co. Ltd. | 184,100 | 9,021,454 |
Wireless Telecommunication Services — 3.3% | ||
KDDI Corp. | 3,099,800 | 96,769,972 |
SoftBank Corp. | 5,497,300 | 61,893,067 |
SoftBank Group Corp. | 2,353,300 | 88,254,447 |
246,917,486 | ||
Total Common Stocks (Cost $7,967,112,205) | 7,351,563,502 | |
Short-Term Investments — 0.5% | ||
Investment of Cash Collateral from Securities Loaned — 0.5% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.01% (b) (c) | 35,321,570 | 35,325,102 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (b) (c) | 5,162,515 | 5,162,515 |
Total Investment of Cash Collateral from Securities Loaned (Cost $40,494,214) | 40,487,617 | |
Total Investments — 99.2% (Cost $8,007,606,419) | 7,392,051,119 | |
Other Assets Less Liabilities — 0.8% | 57,742,194 | |
NET ASSETS — 100.0% | 7,449,793,313 |
Percentages indicated are based on net assets. |
Abbreviations | |
REIT | Real Estate Investment Trust |
* | Non-income producing security. |
(a) | The security or a portion of this security is on loan at April 30, 2023. The total value of securities on loan at April 30, 2023 is $38,169,726. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of April 30, 2023. |
86 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
TOPIX Index | 629 | 06/08/2023 | JPY | 95,773,093 | 3,879,530 |
Abbreviations | |
JPY | Japanese Yen |
TOPIX | Tokyo Stock Price Index |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 87 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 99.5% | ||
Aerospace & Defense — 1.7% | ||
Boeing Co. (The) * | 23,524 | 4,864,293 |
General Dynamics Corp. | 9,423 | 2,057,418 |
HEICO Corp. | 1,664 | 280,617 |
HEICO Corp., Class A | 2,918 | 391,683 |
Howmet Aerospace, Inc. | 15,431 | 683,439 |
Huntington Ingalls Industries, Inc. | 1,665 | 335,764 |
L3Harris Technologies, Inc. | 7,951 | 1,551,638 |
Lockheed Martin Corp. | 9,507 | 4,415,526 |
Northrop Grumman Corp. | 6,038 | 2,785,148 |
Raytheon Technologies Corp. | 61,351 | 6,128,965 |
Textron, Inc. | 8,726 | 584,118 |
TransDigm Group, Inc. | 2,157 | 1,650,105 |
25,728,714 | ||
Air Freight & Logistics — 0.6% | ||
CH Robinson Worldwide, Inc. | 4,927 | 496,987 |
Expeditors International of Washington, Inc. | 6,651 | 757,150 |
FedEx Corp. | 9,736 | 2,217,666 |
United Parcel Service, Inc., Class B | 30,531 | 5,489,779 |
8,961,582 | ||
Automobile Components — 0.1% | ||
Aptiv plc * | 11,356 | 1,168,078 |
BorgWarner, Inc. | 9,807 | 472,011 |
Lear Corp. | 2,474 | 315,831 |
1,955,920 | ||
Automobiles — 1.5% | ||
Ford Motor Co. | 163,941 | 1,947,619 |
General Motors Co. | 58,379 | 1,928,842 |
Lucid Group, Inc. * (a) | 26,755 | 212,435 |
Rivian Automotive, Inc., Class A * (a) | 22,941 | 294,103 |
Tesla, Inc. * | 112,609 | 18,502,785 |
22,885,784 | ||
Banks — 3.0% | ||
Bank of America Corp. | 292,213 | 8,556,026 |
Citigroup, Inc. | 81,095 | 3,817,142 |
Citizens Financial Group, Inc. | 20,606 | 637,550 |
Comerica, Inc. | 5,465 | 237,017 |
East West Bancorp, Inc. | 5,882 | 304,040 |
Fifth Third Bancorp | 28,623 | 749,923 |
First Republic Bank (a) (b) | 7,780 | 27,308 |
Huntington Bancshares, Inc. | 60,397 | 676,446 |
JPMorgan Chase & Co. (c) | 122,779 | 16,972,969 |
KeyCorp | 39,062 | 439,838 |
INVESTMENTS | SHARES | VALUE($) |
Banks — continued | ||
M&T Bank Corp. | 7,074 | 889,909 |
PNC Financial Services Group, Inc. (The) | 16,792 | 2,187,158 |
Regions Financial Corp. | 39,087 | 713,729 |
Truist Financial Corp. | 55,528 | 1,809,102 |
US Bancorp | 58,298 | 1,998,455 |
Wells Fargo & Co. | 159,525 | 6,341,119 |
Zions Bancorp NA | 6,251 | 174,153 |
46,531,884 | ||
Beverages — 1.8% | ||
Brown-Forman Corp., Class A | 2,352 | 154,950 |
Brown-Forman Corp., Class B | 7,672 | 499,370 |
Coca-Cola Co. (The) | 162,925 | 10,451,639 |
Constellation Brands, Inc., Class A | 6,814 | 1,563,608 |
Keurig Dr Pepper, Inc. | 35,584 | 1,163,597 |
Molson Coors Beverage Co., Class B | 7,862 | 467,632 |
Monster Beverage Corp. * | 31,904 | 1,786,624 |
PepsiCo, Inc. | 57,676 | 11,009,772 |
27,097,192 | ||
Biotechnology — 2.4% | ||
AbbVie, Inc. | 74,055 | 11,191,192 |
Alnylam Pharmaceuticals, Inc. * | 5,168 | 1,029,466 |
Amgen, Inc. | 22,331 | 5,353,634 |
Biogen, Inc. * | 6,043 | 1,838,462 |
BioMarin Pharmaceutical, Inc. * | 7,782 | 747,383 |
Exact Sciences Corp. * | 7,432 | 476,168 |
Gilead Sciences, Inc. | 52,193 | 4,290,786 |
Horizon Therapeutics plc * | 9,481 | 1,053,908 |
Incyte Corp. * | 7,753 | 576,901 |
Moderna, Inc. * | 13,846 | 1,839,995 |
Neurocrine Biosciences, Inc. * | 4,051 | 409,313 |
Regeneron Pharmaceuticals, Inc. * | 4,502 | 3,609,658 |
Seagen, Inc. * | 5,751 | 1,150,200 |
Vertex Pharmaceuticals, Inc. * | 10,752 | 3,663,529 |
37,230,595 | ||
Broadline Retail — 2.9% | ||
Amazon.com, Inc. * | 373,202 | 39,354,151 |
Coupang, Inc. (South Korea) * | 42,739 | 716,306 |
eBay, Inc. | 22,700 | 1,053,961 |
Etsy, Inc. * | 5,270 | 532,428 |
MercadoLibre, Inc. (Brazil) * | 1,951 | 2,492,383 |
44,149,229 |
88 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Building Products — 0.5% | ||
Allegion plc | 3,679 | 406,456 |
Carrier Global Corp. | 34,917 | 1,460,229 |
Fortune Brands Innovations, Inc. | 5,365 | 347,062 |
Johnson Controls International plc | 28,765 | 1,721,298 |
Lennox International, Inc. | 1,337 | 376,914 |
Masco Corp. | 9,429 | 504,546 |
Owens Corning | 3,887 | 415,170 |
Trane Technologies plc | 9,572 | 1,778,573 |
7,010,248 | ||
Capital Markets — 3.0% | ||
Ameriprise Financial, Inc. | 4,421 | 1,348,935 |
Bank of New York Mellon Corp. (The) | 30,790 | 1,311,346 |
BlackRock, Inc. | 6,256 | 4,199,027 |
Blackstone, Inc. | 29,709 | 2,653,905 |
Carlyle Group, Inc. (The) | 9,134 | 277,034 |
Charles Schwab Corp. (The) | 63,870 | 3,336,569 |
CME Group, Inc. | 15,070 | 2,799,554 |
Coinbase Global, Inc., Class A * (a) | 6,652 | 357,811 |
FactSet Research Systems, Inc. | 1,606 | 661,174 |
Franklin Resources, Inc. | 11,935 | 320,813 |
Goldman Sachs Group, Inc. (The) | 14,194 | 4,874,787 |
Intercontinental Exchange, Inc. | 23,395 | 2,548,417 |
Invesco Ltd. | 19,020 | 325,813 |
Jefferies Financial Group, Inc. | 7,556 | 242,019 |
KKR & Co., Inc. | 24,156 | 1,281,959 |
LPL Financial Holdings, Inc. | 3,314 | 692,096 |
MarketAxess Holdings, Inc. | 1,583 | 503,980 |
Moody's Corp. | 6,592 | 2,064,087 |
Morgan Stanley | 54,685 | 4,920,009 |
MSCI, Inc. | 3,340 | 1,611,383 |
Nasdaq, Inc. | 14,207 | 786,642 |
Northern Trust Corp. | 8,713 | 681,008 |
Raymond James Financial, Inc. | 8,125 | 735,556 |
S&P Global, Inc. | 13,801 | 5,003,966 |
SEI Investments Co. | 4,249 | 250,309 |
State Street Corp. | 14,634 | 1,057,453 |
T. Rowe Price Group, Inc. | 9,396 | 1,055,453 |
45,901,105 | ||
Chemicals — 1.7% | ||
Air Products and Chemicals, Inc. | 9,310 | 2,740,492 |
Albemarle Corp. | 4,907 | 910,052 |
Celanese Corp. | 4,168 | 442,808 |
CF Industries Holdings, Inc. | 8,212 | 587,815 |
INVESTMENTS | SHARES | VALUE($) |
Chemicals — continued | ||
Corteva, Inc. | 29,851 | 1,824,493 |
Dow, Inc. | 29,509 | 1,605,290 |
DuPont de Nemours, Inc. | 19,203 | 1,338,833 |
Eastman Chemical Co. | 4,968 | 418,653 |
Ecolab, Inc. | 10,360 | 1,738,823 |
FMC Corp. | 5,281 | 652,626 |
International Flavors & Fragrances, Inc. | 10,673 | 1,034,854 |
Linde plc | 20,607 | 7,613,256 |
LyondellBasell Industries NV, Class A | 10,637 | 1,006,367 |
Mosaic Co. (The) | 14,262 | 611,127 |
PPG Industries, Inc. | 9,840 | 1,380,158 |
Sherwin-Williams Co. (The) | 9,869 | 2,344,282 |
Westlake Corp. | 1,417 | 161,226 |
26,411,155 | ||
Commercial Services & Supplies — 0.5% | ||
Cintas Corp. | 3,625 | 1,652,166 |
Copart, Inc. * | 17,955 | 1,419,343 |
Republic Services, Inc. | 8,601 | 1,243,876 |
Rollins, Inc. | 9,704 | 409,994 |
Waste Management, Inc. | 15,554 | 2,582,742 |
7,308,121 | ||
Communications Equipment — 0.8% | ||
Arista Networks, Inc. * | 10,350 | 1,657,656 |
Cisco Systems, Inc. | 171,963 | 8,125,252 |
F5, Inc. * | 2,510 | 337,243 |
Juniper Networks, Inc. | 13,560 | 408,834 |
Motorola Solutions, Inc. | 6,997 | 2,038,926 |
12,567,911 | ||
Construction & Engineering — 0.1% | ||
Quanta Services, Inc. | 5,999 | 1,017,670 |
Construction Materials — 0.1% | ||
Martin Marietta Materials, Inc. | 2,583 | 938,145 |
Vulcan Materials Co. | 5,581 | 977,345 |
1,915,490 | ||
Consumer Finance — 0.5% | ||
Ally Financial, Inc. | 12,549 | 331,043 |
American Express Co. | 24,936 | 4,023,174 |
Capital One Financial Corp. | 15,967 | 1,553,589 |
Discover Financial Services | 11,170 | 1,155,760 |
Synchrony Financial | 18,320 | 540,623 |
7,604,189 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 89 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Consumer Staples Distribution & Retail — 1.9% | ||
Albertsons Cos., Inc., Class A | 6,709 | 140,218 |
Costco Wholesale Corp. | 18,563 | 9,341,273 |
Dollar General Corp. | 9,369 | 2,074,859 |
Dollar Tree, Inc. * | 8,694 | 1,336,355 |
Kroger Co. (The) | 27,248 | 1,325,070 |
Sysco Corp. | 21,256 | 1,631,185 |
Target Corp. | 19,272 | 3,040,158 |
Walgreens Boots Alliance, Inc. | 29,968 | 1,056,372 |
Walmart, Inc. | 58,704 | 8,862,543 |
28,808,033 | ||
Containers & Packaging — 0.3% | ||
Amcor plc | 62,216 | 682,510 |
Avery Dennison Corp. | 3,377 | 589,219 |
Ball Corp. | 13,141 | 698,838 |
Crown Holdings, Inc. | 5,010 | 429,758 |
International Paper Co. | 14,876 | 492,544 |
Packaging Corp. of America | 3,853 | 521,157 |
Sealed Air Corp. | 6,068 | 291,203 |
WestRock Co. | 10,662 | 319,114 |
4,024,343 | ||
Distributors — 0.1% | ||
Genuine Parts Co. | 5,883 | 990,168 |
LKQ Corp. | 10,631 | 613,728 |
Pool Corp. | 1,636 | 574,759 |
2,178,655 | ||
Diversified REITs — 0.0% ^ | ||
WP Carey, Inc. | 8,794 | 652,515 |
Diversified Telecommunication Services — 0.8% | ||
AT&T, Inc. | 298,423 | 5,273,134 |
Lumen Technologies, Inc. | 38,587 | 91,451 |
Verizon Communications, Inc. | 175,836 | 6,827,712 |
12,192,297 | ||
Electric Utilities — 1.8% | ||
Alliant Energy Corp. | 10,523 | 580,238 |
American Electric Power Co., Inc. | 21,492 | 1,986,291 |
Avangrid, Inc. | 2,909 | 117,116 |
Constellation Energy Corp. | 13,673 | 1,058,290 |
Duke Energy Corp. | 32,252 | 3,189,078 |
Edison International | 15,989 | 1,176,790 |
Entergy Corp. | 8,530 | 917,657 |
Evergy, Inc. | 9,589 | 595,573 |
Eversource Energy | 14,600 | 1,133,106 |
INVESTMENTS | SHARES | VALUE($) |
Electric Utilities — continued | ||
Exelon Corp. | 41,583 | 1,764,783 |
FirstEnergy Corp. | 22,719 | 904,216 |
NextEra Energy, Inc. | 83,199 | 6,375,539 |
NRG Energy, Inc. | 9,621 | 328,750 |
PG&E Corp. * | 67,386 | 1,152,974 |
Pinnacle West Capital Corp. | 4,710 | 369,547 |
PPL Corp. | 30,819 | 885,122 |
Southern Co. (The) | 45,569 | 3,351,600 |
Xcel Energy, Inc. | 22,918 | 1,602,197 |
27,488,867 | ||
Electrical Equipment — 0.6% | ||
AMETEK, Inc. | 9,594 | 1,323,300 |
Eaton Corp. plc | 16,666 | 2,785,222 |
Emerson Electric Co. | 23,915 | 1,991,163 |
Generac Holdings, Inc. * | 2,630 | 268,839 |
Hubbell, Inc. | 2,221 | 598,160 |
Plug Power, Inc. * (a) | 21,981 | 198,488 |
Rockwell Automation, Inc. | 4,819 | 1,365,753 |
Sensata Technologies Holding plc | 6,422 | 279,036 |
8,809,961 | ||
Electronic Equipment, Instruments & Components — 0.6% | ||
Amphenol Corp., Class A | 24,905 | 1,879,580 |
CDW Corp. | 5,677 | 962,762 |
Cognex Corp. | 7,257 | 346,086 |
Corning, Inc. | 31,880 | 1,059,054 |
Flex Ltd. * | 18,883 | 388,423 |
Keysight Technologies, Inc. * | 7,457 | 1,078,581 |
TE Connectivity Ltd. | 13,234 | 1,619,445 |
Teledyne Technologies, Inc. * | 1,973 | 817,611 |
Trimble, Inc. * | 10,317 | 485,931 |
Zebra Technologies Corp., Class A * | 2,149 | 618,976 |
9,256,449 | ||
Energy Equipment & Services — 0.4% | ||
Baker Hughes Co. | 42,128 | 1,231,823 |
Halliburton Co. | 37,837 | 1,239,162 |
Schlumberger NV | 59,456 | 2,934,153 |
5,405,138 | ||
Entertainment — 1.3% | ||
Activision Blizzard, Inc. * | 29,827 | 2,317,856 |
Electronic Arts, Inc. | 10,926 | 1,390,661 |
Live Nation Entertainment, Inc. * | 5,986 | 405,731 |
Netflix, Inc. * | 18,623 | 6,144,286 |
90 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Entertainment — continued | ||
ROBLOX Corp., Class A * | 15,182 | 540,479 |
Roku, Inc. * | 5,080 | 285,547 |
Take-Two Interactive Software, Inc. * | 6,629 | 823,919 |
Walt Disney Co. (The) * | 76,455 | 7,836,638 |
19,745,117 | ||
Financial Services — 4.4% | ||
Apollo Global Management, Inc. | 18,190 | 1,153,064 |
Berkshire Hathaway, Inc., Class B * | 75,432 | 24,783,184 |
Block, Inc. * | 22,507 | 1,368,200 |
Corebridge Financial, Inc. | 3,245 | 54,711 |
Equitable Holdings, Inc. | 14,402 | 374,308 |
Fidelity National Information Services, Inc. | 24,859 | 1,459,720 |
Fiserv, Inc. * | 26,591 | 3,247,293 |
FleetCor Technologies, Inc. * | 3,062 | 655,023 |
Global Payments, Inc. | 11,021 | 1,242,177 |
Jack Henry & Associates, Inc. | 3,034 | 495,574 |
Mastercard, Inc., Class A | 35,318 | 13,421,899 |
PayPal Holdings, Inc. * | 47,347 | 3,598,372 |
Visa, Inc., Class A | 68,037 | 15,834,251 |
Voya Financial, Inc. | 4,066 | 310,968 |
67,998,744 | ||
Food Products — 1.1% | ||
Archer-Daniels-Midland Co. | 22,911 | 1,788,891 |
Bunge Ltd. | 6,258 | 585,749 |
Campbell Soup Co. | 8,377 | 454,871 |
Conagra Brands, Inc. | 19,971 | 758,099 |
General Mills, Inc. | 24,676 | 2,187,034 |
Hershey Co. (The) | 6,153 | 1,680,138 |
Hormel Foods Corp. | 12,142 | 491,022 |
J M Smucker Co. (The) | 4,470 | 690,213 |
Kellogg Co. | 10,710 | 747,237 |
Kraft Heinz Co. (The) | 33,321 | 1,308,516 |
Lamb Weston Holdings, Inc. | 6,038 | 675,109 |
McCormick & Co., Inc. (Non-Voting) | 10,512 | 923,479 |
Mondelez International, Inc., Class A | 57,065 | 4,378,027 |
Tyson Foods, Inc., Class A | 11,950 | 746,755 |
17,415,140 | ||
Gas Utilities — 0.1% | ||
Atmos Energy Corp. | 6,008 | 685,753 |
UGI Corp. | 8,755 | 296,620 |
982,373 |
INVESTMENTS | SHARES | VALUE($) |
Ground Transportation — 0.9% | ||
CSX Corp. | 88,031 | 2,697,270 |
JB Hunt Transport Services, Inc. | 3,452 | 605,101 |
Norfolk Southern Corp. | 9,524 | 1,933,658 |
Old Dominion Freight Line, Inc. | 3,781 | 1,211,395 |
Uber Technologies, Inc. * | 83,511 | 2,593,016 |
Union Pacific Corp. | 25,595 | 5,008,941 |
14,049,381 | ||
Health Care Equipment & Supplies — 2.8% | ||
Abbott Laboratories | 72,994 | 8,063,647 |
Align Technology, Inc. * | 3,021 | 982,731 |
Baxter International, Inc. | 21,104 | 1,006,239 |
Becton Dickinson & Co. | 11,887 | 3,141,853 |
Boston Scientific Corp. * | 59,952 | 3,124,698 |
Cooper Cos., Inc. (The) | 2,064 | 787,313 |
Dentsply Sirona, Inc. | 9,001 | 377,412 |
Dexcom, Inc. * | 16,156 | 1,960,369 |
Edwards Lifesciences Corp. * | 25,879 | 2,276,835 |
Hologic, Inc. * | 10,314 | 887,107 |
IDEXX Laboratories, Inc. * | 3,445 | 1,695,491 |
Insulet Corp. * | 2,903 | 923,270 |
Intuitive Surgical, Inc. * | 14,681 | 4,422,211 |
Medtronic plc | 55,696 | 5,065,551 |
Novocure Ltd. * | 3,769 | 248,377 |
ResMed, Inc. | 6,151 | 1,482,145 |
STERIS plc | 4,150 | 782,483 |
Stryker Corp. | 14,096 | 4,223,866 |
Teleflex, Inc. | 1,974 | 537,955 |
Zimmer Biomet Holdings, Inc. | 8,766 | 1,213,565 |
43,203,118 | ||
Health Care Providers & Services — 3.0% | ||
agilon health, Inc. * | 8,268 | 200,664 |
AmerisourceBergen Corp. | 6,749 | 1,126,071 |
Cardinal Health, Inc. | 10,776 | 884,710 |
Centene Corp. * | 23,052 | 1,588,974 |
Cigna Group (The) | 12,485 | 3,162,326 |
CVS Health Corp. | 53,765 | 3,941,512 |
DaVita, Inc. * | 2,316 | 209,274 |
Elevance Health, Inc. | 9,981 | 4,677,596 |
HCA Healthcare, Inc. | 8,890 | 2,554,364 |
Henry Schein, Inc. * | 5,683 | 459,243 |
Humana, Inc. | 5,244 | 2,781,889 |
Laboratory Corp. of America Holdings | 3,707 | 840,414 |
McKesson Corp. | 5,734 | 2,088,552 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 91 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Health Care Providers & Services — continued | ||
Molina Healthcare, Inc. * | 2,447 | 728,937 |
Quest Diagnostics, Inc. | 4,635 | 643,384 |
UnitedHealth Group, Inc. | 39,100 | 19,240,719 |
Universal Health Services, Inc., Class B | 2,660 | 399,931 |
45,528,560 | ||
Health Care REITs — 0.2% | ||
Healthpeak Properties, Inc. | 22,893 | 502,959 |
Ventas, Inc. | 16,754 | 805,030 |
Welltower, Inc. | 19,772 | 1,566,338 |
2,874,327 | ||
Health Care Technology — 0.1% | ||
Veeva Systems, Inc., Class A * | 5,881 | 1,053,169 |
Hotel & Resort REITs — 0.0% ^ | ||
Host Hotels & Resorts, Inc. | 29,932 | 484,000 |
Hotels, Restaurants & Leisure — 2.3% | ||
Airbnb, Inc., Class A * | 16,686 | 1,996,814 |
Aramark | 10,922 | 378,993 |
Booking Holdings, Inc. * | 1,626 | 4,367,940 |
Caesars Entertainment, Inc. * | 8,988 | 407,067 |
Carnival Corp. * | 41,942 | 386,286 |
Chipotle Mexican Grill, Inc. * | 1,165 | 2,408,777 |
Darden Restaurants, Inc. | 5,075 | 771,045 |
Domino's Pizza, Inc. | 1,501 | 476,522 |
DoorDash, Inc., Class A * | 11,013 | 673,886 |
Expedia Group, Inc. * | 6,185 | 581,143 |
Hilton Worldwide Holdings, Inc. | 11,146 | 1,605,247 |
Las Vegas Sands Corp. * | 13,777 | 879,661 |
Marriott International, Inc., Class A | 11,242 | 1,903,720 |
McDonald's Corp. | 30,671 | 9,070,948 |
MGM Resorts International | 13,167 | 591,462 |
Royal Caribbean Cruises Ltd. * | 9,170 | 599,993 |
Starbucks Corp. | 48,098 | 5,497,120 |
Vail Resorts, Inc. | 1,683 | 404,795 |
Wynn Resorts Ltd. * | 4,292 | 490,490 |
Yum! Brands, Inc. | 11,739 | 1,650,269 |
35,142,178 | ||
Household Durables — 0.3% | ||
DR Horton, Inc. | 13,088 | 1,437,324 |
Garmin Ltd. | 6,436 | 631,822 |
Lennar Corp., Class A | 10,620 | 1,198,042 |
Lennar Corp., Class B | 583 | 57,029 |
NVR, Inc. * | 112 | 654,080 |
INVESTMENTS | SHARES | VALUE($) |
Household Durables — continued | ||
PulteGroup, Inc. | 9,444 | 634,165 |
Whirlpool Corp. | 2,303 | 321,476 |
4,933,938 | ||
Household Products — 1.4% | ||
Church & Dwight Co., Inc. | 10,215 | 992,081 |
Clorox Co. (The) | 5,190 | 859,568 |
Colgate-Palmolive Co. | 34,955 | 2,789,409 |
Kimberly-Clark Corp. | 14,109 | 2,044,253 |
Procter & Gamble Co. (The) | 98,774 | 15,446,278 |
22,131,589 | ||
Independent Power and Renewable Electricity Producers — 0.1% | ||
AES Corp. (The) | 27,956 | 661,439 |
Vistra Corp. | 15,652 | 373,457 |
1,034,896 | ||
Industrial Conglomerates — 0.8% | ||
3M Co. | 23,038 | 2,447,096 |
General Electric Co. | 45,595 | 4,512,537 |
Honeywell International, Inc. | 27,963 | 5,588,126 |
12,547,759 | ||
Industrial REITs — 0.3% | ||
Prologis, Inc. | 38,635 | 4,839,035 |
Insurance — 2.2% | ||
Aflac, Inc. | 23,433 | 1,636,795 |
Allstate Corp. (The) | 11,018 | 1,275,444 |
American Financial Group, Inc. | 2,919 | 358,249 |
American International Group, Inc. | 31,110 | 1,650,074 |
Aon plc, Class A | 8,601 | 2,796,873 |
Arch Capital Group Ltd. * | 15,497 | 1,163,360 |
Arthur J Gallagher & Co. | 8,892 | 1,850,070 |
Brown & Brown, Inc. | 9,841 | 633,662 |
Chubb Ltd. | 17,359 | 3,498,880 |
Cincinnati Financial Corp. | 6,579 | 700,269 |
Everest Re Group Ltd. | 1,640 | 619,920 |
Fidelity National Financial, Inc. | 11,404 | 404,728 |
Globe Life, Inc. | 3,776 | 409,772 |
Hartford Financial Services Group, Inc. (The) | 13,184 | 935,932 |
Lincoln National Corp. | 6,460 | 140,376 |
Loews Corp. | 8,170 | 470,347 |
Markel Corp. * | 544 | 744,480 |
Marsh & McLennan Cos., Inc. | 20,699 | 3,729,753 |
MetLife, Inc. | 27,580 | 1,691,481 |
Principal Financial Group, Inc. | 9,516 | 710,750 |
92 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Insurance — continued | ||
Progressive Corp. (The) | 24,498 | 3,341,527 |
Prudential Financial, Inc. | 15,424 | 1,341,888 |
Reinsurance Group of America, Inc. | 2,801 | 398,638 |
Travelers Cos., Inc. (The) | 9,695 | 1,756,152 |
Willis Towers Watson plc | 4,474 | 1,036,178 |
WR Berkley Corp. | 8,538 | 503,059 |
33,798,657 | ||
Interactive Media & Services — 4.9% | ||
Alphabet, Inc., Class A * | 249,350 | 26,765,229 |
Alphabet, Inc., Class C * | 217,405 | 23,527,569 |
Match Group, Inc. * | 11,669 | 430,586 |
Meta Platforms, Inc., Class A * | 93,179 | 22,392,777 |
Pinterest, Inc., Class A * | 24,901 | 572,723 |
Snap, Inc., Class A * | 41,114 | 358,103 |
ZoomInfo Technologies, Inc. * | 11,338 | 248,416 |
74,295,403 | ||
IT Services — 1.4% | ||
Accenture plc, Class A | 26,351 | 7,385,922 |
Akamai Technologies, Inc. * | 6,581 | 539,445 |
Cloudflare, Inc., Class A * | 11,985 | 563,894 |
Cognizant Technology Solutions Corp., Class A | 21,312 | 1,272,539 |
DXC Technology Co. * | 9,521 | 227,076 |
EPAM Systems, Inc. * | 2,414 | 681,810 |
Gartner, Inc. * | 3,305 | 999,630 |
GoDaddy, Inc., Class A * | 6,500 | 491,920 |
International Business Machines Corp. | 37,839 | 4,783,228 |
MongoDB, Inc. * | 2,897 | 695,164 |
Okta, Inc. * | 6,411 | 439,346 |
Snowflake, Inc., Class A * | 11,973 | 1,772,962 |
Twilio, Inc., Class A * | 7,316 | 384,895 |
VeriSign, Inc. * | 3,819 | 847,054 |
21,084,885 | ||
Leisure Products — 0.0% ^ | ||
Hasbro, Inc. | 5,423 | 321,150 |
Life Sciences Tools & Services — 1.7% | ||
Agilent Technologies, Inc. | 12,377 | 1,676,217 |
Avantor, Inc. * | 28,231 | 549,940 |
Bio-Rad Laboratories, Inc., Class A * | 892 | 402,105 |
Bio-Techne Corp. | 6,582 | 525,770 |
Charles River Laboratories International, Inc. * | 2,121 | 403,245 |
Danaher Corp. | 27,443 | 6,501,521 |
Illumina, Inc. * | 6,583 | 1,353,201 |
IQVIA Holdings, Inc. * | 7,777 | 1,463,865 |
INVESTMENTS | SHARES | VALUE($) |
Life Sciences Tools & Services — continued | ||
Mettler-Toledo International, Inc. * | 913 | 1,361,739 |
PerkinElmer, Inc. | 5,293 | 690,684 |
Thermo Fisher Scientific, Inc. | 16,418 | 9,110,348 |
Waters Corp. * | 2,484 | 746,094 |
West Pharmaceutical Services, Inc. | 3,117 | 1,125,985 |
25,910,714 | ||
Machinery — 1.6% | ||
Caterpillar, Inc. | 21,782 | 4,765,901 |
Cummins, Inc. | 5,895 | 1,385,561 |
Deere & Co. | 11,340 | 4,286,747 |
Dover Corp. | 5,837 | 853,136 |
Fortive Corp. | 14,774 | 932,092 |
IDEX Corp. | 3,172 | 654,447 |
Illinois Tool Works, Inc. | 11,606 | 2,807,956 |
Ingersoll Rand, Inc. | 16,937 | 965,748 |
Otis Worldwide Corp. | 17,352 | 1,480,125 |
PACCAR, Inc. | 21,841 | 1,631,304 |
Parker-Hannifin Corp. | 5,366 | 1,743,306 |
Pentair plc | 6,897 | 400,578 |
Snap-on, Inc. | 2,203 | 571,480 |
Stanley Black & Decker, Inc. | 6,189 | 534,358 |
Westinghouse Air Brake Technologies Corp. | 7,631 | 745,320 |
Xylem, Inc. | 7,527 | 781,604 |
24,539,663 | ||
Media — 0.9% | ||
Charter Communications, Inc., Class A * | 4,422 | 1,630,391 |
Comcast Corp., Class A | 176,177 | 7,288,443 |
Fox Corp., Class A | 12,420 | 413,089 |
Fox Corp., Class B | 5,767 | 176,124 |
Interpublic Group of Cos., Inc. (The) | 16,278 | 581,613 |
Liberty Broadband Corp., Class A * | 696 | 58,833 |
Liberty Broadband Corp., Class C * | 5,001 | 423,985 |
Liberty Media Corp.-Liberty SiriusXM, Class A * | 3,136 | 88,122 |
Liberty Media Corp.-Liberty SiriusXM, Class C * | 6,424 | 179,487 |
News Corp., Class A | 16,007 | 281,883 |
News Corp., Class B | 4,934 | 87,579 |
Omnicom Group, Inc. | 8,502 | 770,026 |
Paramount Global, Class A | 379 | 10,028 |
Paramount Global, Class B | 21,161 | 493,686 |
Sirius XM Holdings, Inc. (a) | 29,295 | 111,321 |
Trade Desk, Inc. (The), Class A * | 18,621 | 1,198,075 |
13,792,685 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 93 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Metals & Mining — 0.4% | ||
Freeport-McMoRan, Inc. | 59,841 | 2,268,572 |
Newmont Corp. | 33,230 | 1,575,102 |
Nucor Corp. | 10,601 | 1,570,856 |
Southern Copper Corp. (Mexico) | 3,576 | 274,744 |
Steel Dynamics, Inc. | 6,982 | 725,779 |
6,415,053 | ||
Mortgage Real Estate Investment Trusts (REITs) — 0.0% ^ | ||
Annaly Capital Management, Inc. | 19,612 | 391,848 |
Multi-Utilities — 0.8% | ||
Ameren Corp. | 10,805 | 961,321 |
CenterPoint Energy, Inc. | 26,344 | 802,702 |
CMS Energy Corp. | 12,203 | 759,759 |
Consolidated Edison, Inc. | 14,846 | 1,461,886 |
Dominion Energy, Inc. | 34,879 | 1,992,986 |
DTE Energy Co. | 8,122 | 912,994 |
NiSource, Inc. | 16,981 | 483,279 |
Public Service Enterprise Group, Inc. | 20,893 | 1,320,438 |
Sempra Energy | 13,156 | 2,045,626 |
WEC Energy Group, Inc. | 13,197 | 1,269,155 |
12,010,146 | ||
Office REITs — 0.1% | ||
Alexandria Real Estate Equities, Inc. | 6,587 | 817,974 |
Boston Properties, Inc. | 5,989 | 319,573 |
1,137,547 | ||
Oil, Gas & Consumable Fuels — 4.3% | ||
APA Corp. | 13,469 | 496,333 |
Cheniere Energy, Inc. | 10,392 | 1,589,976 |
Chevron Corp. | 74,490 | 12,557,524 |
ConocoPhillips | 51,246 | 5,272,701 |
Coterra Energy, Inc. | 32,987 | 844,467 |
Devon Energy Corp. | 27,377 | 1,462,753 |
Diamondback Energy, Inc. | 7,702 | 1,095,225 |
EOG Resources, Inc. | 24,594 | 2,938,245 |
EQT Corp. | 15,344 | 534,585 |
Exxon Mobil Corp. | 172,381 | 20,399,568 |
Hess Corp. | 11,601 | 1,682,841 |
Kinder Morgan, Inc. | 82,821 | 1,420,380 |
Marathon Oil Corp. | 26,592 | 642,463 |
Marathon Petroleum Corp. | 18,999 | 2,317,878 |
Occidental Petroleum Corp. | 30,432 | 1,872,481 |
ONEOK, Inc. | 18,726 | 1,224,868 |
Phillips 66 | 19,530 | 1,933,470 |
Pioneer Natural Resources Co. | 9,935 | 2,161,359 |
INVESTMENTS | SHARES | VALUE($) |
Oil, Gas & Consumable Fuels — continued | ||
Targa Resources Corp. | 9,472 | 715,420 |
Texas Pacific Land Corp. | 276 | 407,831 |
Valero Energy Corp. | 16,124 | 1,848,939 |
Williams Cos., Inc. (The) | 50,977 | 1,542,564 |
64,961,871 | ||
Passenger Airlines — 0.1% | ||
Delta Air Lines, Inc. * | 26,824 | 920,332 |
Southwest Airlines Co. | 24,893 | 754,009 |
United Airlines Holdings, Inc. * | 13,669 | 598,702 |
2,273,043 | ||
Personal Care Products — 0.2% | ||
Estee Lauder Cos., Inc. (The), Class A | 9,712 | 2,396,145 |
Pharmaceuticals — 4.2% | ||
Bristol-Myers Squibb Co. | 89,009 | 5,943,131 |
Catalent, Inc. * | 7,521 | 376,952 |
Elanco Animal Health, Inc. * | 18,638 | 176,502 |
Eli Lilly & Co. | 32,994 | 13,061,005 |
Jazz Pharmaceuticals plc * | 2,616 | 367,469 |
Johnson & Johnson | 109,457 | 17,918,111 |
Merck & Co., Inc. | 106,149 | 12,257,025 |
Pfizer, Inc. | 234,994 | 9,138,917 |
Royalty Pharma plc, Class A | 15,521 | 545,563 |
Viatris, Inc. | 50,775 | 473,731 |
Zoetis, Inc. | 19,529 | 3,432,808 |
63,691,214 | ||
Professional Services — 0.9% | ||
Automatic Data Processing, Inc. | 17,333 | 3,813,260 |
Booz Allen Hamilton Holding Corp. | 5,514 | 527,800 |
Broadridge Financial Solutions, Inc. | 4,927 | 716,435 |
Ceridian HCM Holding, Inc. * | 6,456 | 409,827 |
Clarivate plc * | 18,062 | 160,029 |
CoStar Group, Inc. * | 17,002 | 1,308,304 |
Equifax, Inc. | 5,104 | 1,063,572 |
Jacobs Solutions, Inc. | 5,308 | 612,862 |
Leidos Holdings, Inc. | 5,725 | 533,914 |
Paychex, Inc. | 13,439 | 1,476,409 |
Paycom Software, Inc. * | 2,022 | 587,128 |
Paylocity Holding Corp. * | 1,718 | 332,072 |
SS&C Technologies Holdings, Inc. | 9,158 | 536,109 |
TransUnion | 8,083 | 556,191 |
Verisk Analytics, Inc. | 6,549 | 1,271,226 |
13,905,138 |
94 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Real Estate Management & Development — 0.1% | ||
CBRE Group, Inc., Class A * | 13,216 | 1,013,139 |
Zillow Group, Inc., Class A * | 2,439 | 104,340 |
Zillow Group, Inc., Class C * | 6,838 | 297,726 |
1,415,205 | ||
Residential REITs — 0.4% | ||
AvalonBay Communities, Inc. | 5,844 | 1,054,082 |
Camden Property Trust | 4,599 | 506,120 |
Equity LifeStyle Properties, Inc. | 7,331 | 505,106 |
Equity Residential | 14,266 | 902,324 |
Essex Property Trust, Inc. | 2,724 | 598,545 |
Invitation Homes, Inc. | 24,304 | 811,024 |
Mid-America Apartment Communities, Inc. | 4,845 | 745,161 |
Sun Communities, Inc. | 5,204 | 722,992 |
UDR, Inc. | 12,964 | 535,802 |
6,381,156 | ||
Retail REITs — 0.3% | ||
Federal Realty Investment Trust | 3,043 | 300,922 |
Kimco Realty Corp. | 25,887 | 496,772 |
Realty Income Corp. | 26,256 | 1,649,927 |
Regency Centers Corp. | 6,461 | 396,899 |
Simon Property Group, Inc. | 13,670 | 1,549,084 |
4,393,604 | ||
Semiconductors & Semiconductor Equipment — 5.9% | ||
Advanced Micro Devices, Inc. * | 67,515 | 6,033,816 |
Analog Devices, Inc. | 21,233 | 3,819,392 |
Applied Materials, Inc. | 35,298 | 3,989,733 |
Broadcom, Inc. | 17,504 | 10,966,256 |
Enphase Energy, Inc. * | 5,697 | 935,447 |
Entegris, Inc. | 6,229 | 466,677 |
First Solar, Inc. * | 4,145 | 756,794 |
Intel Corp. | 173,175 | 5,378,815 |
KLA Corp. | 5,791 | 2,238,453 |
Lam Research Corp. | 5,660 | 2,966,293 |
Marvell Technology, Inc. | 35,712 | 1,409,910 |
Microchip Technology, Inc. | 22,938 | 1,674,245 |
Micron Technology, Inc. | 45,661 | 2,938,742 |
Monolithic Power Systems, Inc. | 1,894 | 874,971 |
NVIDIA Corp. | 102,994 | 28,579,805 |
NXP Semiconductors NV (China) | 10,827 | 1,772,813 |
ON Semiconductor Corp. * | 18,080 | 1,301,037 |
Qorvo, Inc. * | 4,173 | 384,250 |
QUALCOMM, Inc. | 46,690 | 5,453,392 |
Skyworks Solutions, Inc. | 6,645 | 703,705 |
INVESTMENTS | SHARES | VALUE($) |
Semiconductors & Semiconductor Equipment — continued | ||
SolarEdge Technologies, Inc. * | 2,354 | 672,373 |
Teradyne, Inc. | 6,526 | 596,346 |
Texas Instruments, Inc. | 37,915 | 6,339,388 |
90,252,653 | ||
Software — 10.0% | ||
Adobe, Inc. * | 19,179 | 7,241,223 |
ANSYS, Inc. * | 3,652 | 1,146,436 |
Aspen Technology, Inc. * | 1,221 | 216,117 |
Atlassian Corp., Class A * | 6,269 | 925,681 |
Autodesk, Inc. * | 9,032 | 1,759,343 |
Bentley Systems, Inc., Class B | 8,225 | 350,056 |
Bill Holdings, Inc. * | 4,019 | 308,699 |
Cadence Design Systems, Inc. * | 11,485 | 2,405,533 |
Crowdstrike Holdings, Inc., Class A * | 9,125 | 1,095,456 |
Datadog, Inc., Class A * | 10,377 | 699,202 |
DocuSign, Inc. * | 8,393 | 414,950 |
Dynatrace, Inc. * | 9,070 | 383,480 |
Fortinet, Inc. * | 27,138 | 1,711,051 |
Gen Digital, Inc. | 23,816 | 420,829 |
HubSpot, Inc. * | 2,036 | 857,054 |
Intuit, Inc. | 11,777 | 5,228,399 |
Microsoft Corp. | 311,637 | 95,753,585 |
Oracle Corp. | 64,345 | 6,094,758 |
Palantir Technologies, Inc., Class A * | 73,757 | 571,617 |
Palo Alto Networks, Inc. * | 12,661 | 2,310,126 |
PTC, Inc. * | 4,463 | 561,401 |
Roper Technologies, Inc. | 4,448 | 2,022,862 |
Salesforce, Inc. * | 41,859 | 8,303,570 |
ServiceNow, Inc. * | 8,508 | 3,908,745 |
Splunk, Inc. * | 6,287 | 542,191 |
Synopsys, Inc. * | 6,398 | 2,375,705 |
Tyler Technologies, Inc. * | 1,731 | 656,101 |
Unity Software, Inc. * (a) | 10,214 | 275,472 |
VMware, Inc., Class A * | 8,714 | 1,089,511 |
Workday, Inc., Class A * | 8,471 | 1,576,792 |
Zoom Video Communications, Inc., Class A * | 9,047 | 555,757 |
Zscaler, Inc. * | 3,573 | 321,927 |
152,083,629 | ||
Specialized REITs — 1.1% | ||
American Tower Corp. | 19,468 | 3,979,065 |
Crown Castle, Inc. | 18,119 | 2,230,268 |
Digital Realty Trust, Inc. | 12,021 | 1,191,882 |
Equinix, Inc. | 3,853 | 2,789,880 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 95 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Specialized REITs — continued | ||
Extra Space Storage, Inc. | 5,623 | 854,921 |
Iron Mountain, Inc. | 12,183 | 672,989 |
Public Storage | 6,611 | 1,949,121 |
SBA Communications Corp. | 4,519 | 1,178,962 |
VICI Properties, Inc. | 41,983 | 1,424,903 |
Weyerhaeuser Co. | 30,689 | 917,908 |
17,189,899 | ||
Specialty Retail — 2.1% | ||
Advance Auto Parts, Inc. | 2,478 | 311,063 |
AutoZone, Inc. * | 790 | 2,104,015 |
Bath & Body Works, Inc. | 9,548 | 335,135 |
Best Buy Co., Inc. | 8,240 | 614,045 |
Burlington Stores, Inc. * | 2,746 | 529,456 |
CarMax, Inc. * | 6,610 | 462,898 |
Home Depot, Inc. (The) | 42,668 | 12,823,441 |
Lowe's Cos., Inc. | 25,334 | 5,265,165 |
O'Reilly Automotive, Inc. * | 2,593 | 2,378,585 |
Ross Stores, Inc. | 14,410 | 1,537,979 |
TJX Cos., Inc. (The) | 48,379 | 3,813,233 |
Tractor Supply Co. | 4,611 | 1,099,263 |
Ulta Beauty, Inc. * | 2,121 | 1,169,583 |
32,443,861 | ||
Technology Hardware, Storage & Peripherals — 7.2% | ||
Apple, Inc. | 622,696 | 105,659,057 |
Dell Technologies, Inc., Class C | 10,161 | 441,902 |
Hewlett Packard Enterprise Co. | 53,669 | 768,540 |
HP, Inc. | 36,182 | 1,074,967 |
NetApp, Inc. | 9,025 | 567,582 |
Seagate Technology Holdings plc | 8,055 | 473,393 |
Western Digital Corp. * | 13,384 | 460,945 |
109,446,386 | ||
Textiles, Apparel & Luxury Goods — 0.6% | ||
Lululemon Athletica, Inc. * | 4,866 | 1,848,739 |
NIKE, Inc., Class B | 52,148 | 6,608,195 |
Tapestry, Inc. | 9,879 | 403,162 |
VF Corp. | 13,840 | 325,378 |
9,185,474 | ||
Tobacco — 0.7% | ||
Altria Group, Inc. | 74,741 | 3,550,945 |
Philip Morris International, Inc. | 64,887 | 6,486,753 |
10,037,698 |
INVESTMENTS | SHARES | VALUE($) |
Trading Companies & Distributors — 0.3% | ||
Fastenal Co. | 23,886 | 1,286,022 |
United Rentals, Inc. | 2,900 | 1,047,219 |
Watsco, Inc. | 1,374 | 475,926 |
WW Grainger, Inc. | 1,898 | 1,320,192 |
4,129,359 | ||
Water Utilities — 0.1% | ||
American Water Works Co., Inc. | 8,093 | 1,199,787 |
Wireless Telecommunication Services — 0.2% | ||
T-Mobile US, Inc. * | 24,779 | 3,565,698 |
Total Common Stocks (Cost $1,514,873,360) | 1,519,705,942 | |
NO. OF RIGHTS | ||
Rights — 0.0% ^ | ||
Health Care Equipment & Supplies — 0.0% ^ | ||
ABIOMED, Inc., CVR ‡ * (Cost $1,764) | 1,730 | 1,764 |
SHARES | ||
Short-Term Investments — 0.5% | ||
Investment Companies — 0.4% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (d) (e) (Cost $6,814,015) | 6,814,015 | 6,814,015 |
Investment of Cash Collateral from Securities Loaned — 0.1% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (d) (e) (Cost $1,224,256) | 1,224,256 | 1,224,256 |
Total Short-Term Investments (Cost $8,038,271) | 8,038,271 | |
Total Investments — 100.0% (Cost $1,522,913,395) | 1,527,745,977 | |
Other Assets Less Liabilities — 0.0% ^ | 493,253 | |
NET ASSETS — 100.0% | 1,528,239,230 |
Percentages indicated are based on net assets. |
Abbreviations | |
CVR | Contingent Value Rights |
REIT | Real Estate Investment Trust |
^ | Amount rounds to less than 0.1% of net assets. | |
‡ | Value determined using significant unobservable inputs. |
96 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
* | Non-income producing security. | |
(a) | The security or a portion of this security is on loan at April 30, 2023. The total value of securities on loan at April 30, 2023 is $1,144,759. | |
(b) | Subsequent to April 30, 2023, First Republic Bank became affiliated with JPMorgan Chase & Co. | |
(c) | Investment in affiliate. This security is included in an index in which the Fund, as an index fund, tracks. |
(d) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(e) | The rate shown is the current yield as of April 30, 2023. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 38 | 06/16/2023 | USD | 7,959,100 | 413,742 |
Abbreviations | |
USD | United States Dollar |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 97 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 99.0% | ||
Aerospace & Defense — 1.9% | ||
Aerojet Rocketdyne Holdings, Inc. * | 42,102 | 2,374,974 |
Axon Enterprise, Inc. * (a) | 37,562 | 7,914,689 |
BWX Technologies, Inc. | 50,716 | 3,275,239 |
Curtiss-Wright Corp. | 21,287 | 3,615,171 |
Hexcel Corp. | 46,836 | 3,375,939 |
Mercury Systems, Inc. * | 32,294 | 1,539,455 |
Moog, Inc., Class A | 15,971 | 1,439,147 |
Parsons Corp. * | 18,426 | 801,531 |
Rocket Lab USA, Inc. * (a) | 120,968 | 474,194 |
Spirit AeroSystems Holdings, Inc., Class A | 58,504 | 1,741,079 |
Woodward, Inc. | 33,191 | 3,187,000 |
29,738,418 | ||
Air Freight & Logistics — 0.2% | ||
GXO Logistics, Inc. * | 65,903 | 3,501,426 |
Automobile Components — 1.2% | ||
Adient plc * | 52,991 | 1,957,487 |
Autoliv, Inc. (Sweden) | 43,125 | 3,700,556 |
Dana, Inc. | 70,883 | 1,048,360 |
Fox Factory Holding Corp. * | 23,510 | 2,606,554 |
Gentex Corp. | 130,350 | 3,596,356 |
Goodyear Tire & Rubber Co. (The) * | 157,204 | 1,677,367 |
Luminar Technologies, Inc. * (a) | 129,937 | 782,221 |
QuantumScape Corp. * (a) | 154,550 | 1,081,850 |
Visteon Corp. * | 15,619 | 2,192,751 |
18,643,502 | ||
Automobiles — 0.3% | ||
Harley-Davidson, Inc. | 73,932 | 2,742,877 |
Thor Industries, Inc. (a) | 29,744 | 2,350,371 |
5,093,248 | ||
Banks — 5.2% | ||
Associated Banc-Corp. | 83,546 | 1,489,625 |
Bank of Hawaii Corp. | 22,137 | 1,072,095 |
Bank OZK (a) | 61,213 | 2,186,528 |
BankUnited, Inc. | 42,031 | 947,799 |
BOK Financial Corp. | 16,011 | 1,342,843 |
Cadence Bank | 101,375 | 2,049,803 |
Commerce Bancshares, Inc. | 63,196 | 3,529,497 |
Cullen/Frost Bankers, Inc. | 35,764 | 3,942,981 |
CVB Financial Corp. | 73,046 | 1,093,499 |
First Citizens BancShares, Inc., Class A (a) | 6,615 | 6,662,496 |
First Financial Bankshares, Inc. | 72,146 | 2,110,992 |
First Hawaiian, Inc. | 70,768 | 1,352,376 |
First Horizon Corp. | 298,177 | 5,233,006 |
INVESTMENTS | SHARES | VALUE($) |
Banks — continued | ||
First Interstate BancSystem, Inc., Class A | 49,335 | 1,262,483 |
FNB Corp. | 200,296 | 2,299,398 |
Glacier Bancorp, Inc. | 61,542 | 2,045,041 |
Hancock Whitney Corp. | 47,623 | 1,739,192 |
Home BancShares, Inc. (a) | 105,107 | 2,288,179 |
Independent Bank Corp. (a) | 25,374 | 1,420,944 |
New York Community Bancorp, Inc. | 378,569 | 4,046,892 |
Old National Bancorp | 162,755 | 2,182,545 |
PacWest Bancorp (a) | 65,426 | 664,074 |
Pinnacle Financial Partners, Inc. | 42,514 | 2,305,534 |
Popular, Inc. (Puerto Rico) | 39,934 | 2,396,439 |
Prosperity Bancshares, Inc. | 50,764 | 3,178,842 |
ServisFirst Bancshares, Inc. | 27,175 | 1,372,338 |
SouthState Corp. | 42,042 | 2,900,057 |
Synovus Financial Corp. | 80,848 | 2,490,118 |
Texas Capital Bancshares, Inc. * (a) | 26,774 | 1,345,394 |
UMB Financial Corp. | 24,145 | 1,535,863 |
United Bankshares, Inc. | 74,631 | 2,472,525 |
United Community Banks, Inc. | 63,871 | 1,590,388 |
Valley National Bancorp | 233,535 | 2,190,558 |
Webster Financial Corp. | 96,718 | 3,607,581 |
Western Alliance Bancorp | 60,511 | 2,246,168 |
Wintrust Financial Corp. | 33,785 | 2,309,880 |
82,903,973 | ||
Beverages — 0.4% | ||
Boston Beer Co., Inc. (The), Class A * | 5,230 | 1,660,577 |
Celsius Holdings, Inc. * (a) | 22,430 | 2,143,635 |
Coca-Cola Consolidated, Inc. | 2,558 | 1,507,839 |
National Beverage Corp. * | 12,956 | 643,913 |
5,955,964 | ||
Biotechnology — 3.4% | ||
ACADIA Pharmaceuticals, Inc. * | 66,577 | 1,420,088 |
Alkermes plc * | 91,294 | 2,606,444 |
Apellis Pharmaceuticals, Inc. * | 52,211 | 4,355,964 |
Arrowhead Pharmaceuticals, Inc. * | 60,204 | 2,131,824 |
Beam Therapeutics, Inc. * | 32,913 | 1,010,758 |
Blueprint Medicines Corp. * | 33,245 | 1,697,157 |
Cerevel Therapeutics Holdings, Inc. * | 35,625 | 1,034,550 |
CRISPR Therapeutics AG (Switzerland) * (a) | 43,502 | 2,128,988 |
Cytokinetics, Inc. * (a) | 52,598 | 1,967,165 |
Denali Therapeutics, Inc. * | 61,142 | 1,518,767 |
Exelixis, Inc. * | 180,118 | 3,296,159 |
Fate Therapeutics, Inc. * | 45,902 | 278,625 |
98 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Biotechnology — continued | ||
Halozyme Therapeutics, Inc. * | 75,123 | 2,413,702 |
Intellia Therapeutics, Inc. * | 46,185 | 1,743,484 |
Ionis Pharmaceuticals, Inc. * | 78,952 | 2,792,532 |
Karuna Therapeutics, Inc. * (a) | 16,558 | 3,285,770 |
Mirati Therapeutics, Inc. * | 28,810 | 1,276,571 |
Natera, Inc. * | 60,422 | 3,064,604 |
Novavax, Inc. * (a) | 47,772 | 366,411 |
Relay Therapeutics, Inc. * | 49,692 | 564,998 |
Sarepta Therapeutics, Inc. * | 48,764 | 5,986,756 |
Ultragenyx Pharmaceutical, Inc. * | 38,970 | 1,701,820 |
United Therapeutics Corp. * | 25,340 | 5,831,494 |
Vir Biotechnology, Inc. * | 42,136 | 1,059,720 |
53,534,351 | ||
Broadline Retail — 0.5% | ||
Dillard's, Inc., Class A (a) | 1,886 | 562,764 |
Kohl's Corp. (a) | 61,389 | 1,352,400 |
Macy's, Inc. | 150,658 | 2,461,752 |
Nordstrom, Inc. (a) | 62,262 | 962,570 |
Ollie's Bargain Outlet Holdings, Inc. * | 32,177 | 2,099,549 |
7,439,035 | ||
Building Products — 2.3% | ||
A O Smith Corp. (a) | 70,511 | 4,815,196 |
Advanced Drainage Systems, Inc. (a) | 34,768 | 2,980,313 |
Armstrong World Industries, Inc. | 25,385 | 1,742,934 |
AZEK Co., Inc. (The) * | 60,316 | 1,636,976 |
Builders FirstSource, Inc. * | 81,781 | 7,750,386 |
Carlisle Cos., Inc. | 28,751 | 6,205,904 |
Hayward Holdings, Inc. * (a) | 64,581 | 777,555 |
Simpson Manufacturing Co., Inc. | 23,682 | 2,978,722 |
Trex Co., Inc. * | 61,001 | 3,334,315 |
UFP Industries, Inc. | 34,239 | 2,688,446 |
Zurn Elkay Water Solutions Corp. | 80,615 | 1,737,253 |
36,648,000 | ||
Capital Markets — 2.5% | ||
Affiliated Managers Group, Inc. | 20,955 | 3,025,483 |
Ares Management Corp. | 86,738 | 7,597,382 |
Artisan Partners Asset Management, Inc., Class A | 37,720 | 1,307,752 |
Blue Owl Capital, Inc. (a) | 197,862 | 2,227,926 |
Evercore, Inc., Class A | 19,838 | 2,262,921 |
Federated Hermes, Inc. | 46,967 | 1,943,964 |
Houlihan Lokey, Inc. | 28,039 | 2,562,204 |
Interactive Brokers Group, Inc., Class A | 57,157 | 4,449,673 |
INVESTMENTS | SHARES | VALUE($) |
Capital Markets — continued | ||
Janus Henderson Group plc | 73,617 | 1,910,361 |
Morningstar, Inc. | 13,898 | 2,478,152 |
Robinhood Markets, Inc., Class A * (a) | 284,807 | 2,520,542 |
Stifel Financial Corp. | 58,554 | 3,511,483 |
Tradeweb Markets, Inc., Class A | 61,698 | 4,344,156 |
40,141,999 | ||
Chemicals — 2.5% | ||
Ashland, Inc. | 27,768 | 2,821,506 |
Avient Corp. | 47,516 | 1,829,841 |
Axalta Coating Systems Ltd. * | 122,587 | 3,870,072 |
Balchem Corp. | 17,859 | 2,346,673 |
Cabot Corp. | 31,312 | 2,246,949 |
Chemours Co. (The) | 82,439 | 2,396,502 |
Diversey Holdings Ltd. * | 43,263 | 351,728 |
Element Solutions, Inc. | 125,112 | 2,270,783 |
Ginkgo Bioworks Holdings, Inc. * (a) | 562,902 | 686,740 |
Huntsman Corp. | 100,351 | 2,688,403 |
Ingevity Corp. * | 19,525 | 1,400,723 |
Livent Corp. * (a) | 99,673 | 2,177,855 |
NewMarket Corp. | 3,700 | 1,478,520 |
Olin Corp. | 68,355 | 3,786,867 |
RPM International, Inc. | 71,721 | 5,883,274 |
Scotts Miracle-Gro Co. (The) (a) | 22,717 | 1,517,723 |
Sensient Technologies Corp. | 23,337 | 1,737,673 |
39,491,832 | ||
Commercial Services & Supplies — 1.1% | ||
Brink's Co. (The) | 25,795 | 1,621,216 |
Casella Waste Systems, Inc., Class A * | 28,165 | 2,506,685 |
Clean Harbors, Inc. * | 27,955 | 4,057,948 |
Driven Brands Holdings, Inc. * | 30,695 | 942,336 |
MSA Safety, Inc. | 20,472 | 2,656,242 |
Ritchie Bros Auctioneers, Inc. (Canada) | 1 | 57 |
Stericycle, Inc. * | 51,217 | 2,338,056 |
Tetra Tech, Inc. | 29,591 | 4,094,507 |
18,217,047 | ||
Communications Equipment — 0.6% | ||
Calix, Inc. * | 31,629 | 1,445,445 |
Ciena Corp. * | 82,480 | 3,797,379 |
Lumentum Holdings, Inc. * | 38,081 | 1,837,408 |
Viasat, Inc. * (a) | 42,448 | 1,486,954 |
Viavi Solutions, Inc. * | 124,923 | 1,119,310 |
9,686,496 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 99 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Construction & Engineering — 2.1% | ||
AECOM | 77,230 | 6,413,952 |
API Group Corp. * | 111,767 | 2,543,817 |
Comfort Systems USA, Inc. | 19,854 | 2,967,974 |
EMCOR Group, Inc. | 26,476 | 4,527,396 |
Fluor Corp. * | 78,971 | 2,294,897 |
MasTec, Inc. * | 32,943 | 2,925,668 |
MDU Resources Group, Inc. | 113,015 | 3,302,298 |
Valmont Industries, Inc. | 11,859 | 3,445,751 |
WillScot Mobile Mini Holdings Corp. * | 116,060 | 5,269,124 |
33,690,877 | ||
Construction Materials — 0.2% | ||
Eagle Materials, Inc. | 20,005 | 2,964,941 |
Consumer Finance — 0.8% | ||
Bread Financial Holdings, Inc. | 27,728 | 765,293 |
Credit Acceptance Corp. * (a) | 3,355 | 1,642,272 |
FirstCash Holdings, Inc. | 20,811 | 2,144,157 |
OneMain Holdings, Inc. (a) | 67,142 | 2,576,239 |
SLM Corp. | 133,750 | 2,008,925 |
SoFi Technologies, Inc. * (a) | 456,716 | 2,845,341 |
Upstart Holdings, Inc. * (a) | 39,131 | 543,921 |
12,526,148 | ||
Consumer Staples Distribution & Retail — 1.5% | ||
BJ's Wholesale Club Holdings, Inc. * | 74,718 | 5,706,214 |
Casey's General Stores, Inc. | 20,687 | 4,733,599 |
Performance Food Group Co. * | 86,771 | 5,439,674 |
PriceSmart, Inc. | 13,954 | 1,028,131 |
Sprouts Farmers Market, Inc. * | 58,816 | 2,038,563 |
US Foods Holding Corp. * | 113,746 | 4,367,846 |
23,314,027 | ||
Containers & Packaging — 1.1% | ||
AptarGroup, Inc. | 36,299 | 4,301,794 |
Berry Global Group, Inc. | 67,667 | 3,911,829 |
Graphic Packaging Holding Co. | 170,695 | 4,209,339 |
Greif, Inc., Class B (a) | 2,984 | 234,960 |
Silgan Holdings, Inc. | 46,511 | 2,291,132 |
Sonoco Products Co. | 54,206 | 3,285,968 |
18,235,022 | ||
Diversified Consumer Services — 1.2% | ||
ADT, Inc. | 118,013 | 790,687 |
Bright Horizons Family Solutions, Inc. * | 32,108 | 2,444,061 |
Chegg, Inc. * | 70,305 | 1,264,084 |
Coursera, Inc. * | 47,217 | 587,380 |
INVESTMENTS | SHARES | VALUE($) |
Diversified Consumer Services — continued | ||
Frontdoor, Inc. * | 45,275 | 1,238,724 |
Graham Holdings Co., Class B | 2,105 | 1,211,575 |
Grand Canyon Education, Inc. * | 17,043 | 2,023,004 |
H&R Block, Inc. (a) | 84,598 | 2,868,718 |
Mister Car Wash, Inc. * (a) | 44,079 | 388,777 |
Service Corp. International | 85,448 | 5,997,595 |
18,814,605 | ||
Diversified REITs — 0.1% | ||
Broadstone Net Lease, Inc. | 96,199 | 1,555,538 |
Diversified Telecommunication Services — 0.5% | ||
Frontier Communications Parent, Inc. * (a) | 123,920 | 2,793,157 |
Globalstar, Inc. * (a) | 390,192 | 353,514 |
Iridium Communications, Inc. | 69,819 | 4,431,412 |
7,578,083 | ||
Electric Utilities — 1.0% | ||
ALLETE, Inc. | 31,748 | 1,980,440 |
Hawaiian Electric Industries, Inc. | 60,807 | 2,384,243 |
IDACORP, Inc. | 28,097 | 3,122,139 |
OGE Energy Corp. | 111,269 | 4,177,038 |
PNM Resources, Inc. | 47,697 | 2,295,657 |
Portland General Electric Co. | 49,594 | 2,510,448 |
16,469,965 | ||
Electrical Equipment — 1.6% | ||
Acuity Brands, Inc. | 17,815 | 2,803,725 |
Atkore, Inc. * | 21,964 | 2,774,712 |
Bloom Energy Corp., Class A * | 99,846 | 1,662,436 |
ChargePoint Holdings, Inc. * (a) | 146,216 | 1,267,693 |
EnerSys | 22,719 | 1,884,995 |
nVent Electric plc | 92,586 | 3,882,131 |
Regal Rexnord Corp. | 36,750 | 4,783,380 |
SunPower Corp. * (a) | 47,444 | 627,210 |
Sunrun, Inc. * (a) | 118,415 | 2,491,451 |
Vertiv Holdings Co. | 167,728 | 2,502,502 |
24,680,235 | ||
Electronic Equipment, Instruments & Components — 2.2% | ||
Arrow Electronics, Inc. * | 32,386 | 3,705,930 |
Avnet, Inc. | 50,798 | 2,095,925 |
Belden, Inc. | 23,790 | 1,876,793 |
Coherent Corp. * (a) | 77,237 | 2,636,871 |
Fabrinet (Thailand) * | 20,349 | 1,932,138 |
IPG Photonics Corp. * | 17,867 | 2,054,348 |
Jabil, Inc. | 74,061 | 5,787,867 |
100 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Electronic Equipment, Instruments & Components — continued | ||
Littelfuse, Inc. | 13,748 | 3,330,316 |
National Instruments Corp. | 72,544 | 4,224,237 |
Novanta, Inc. * | 19,817 | 3,028,830 |
TD SYNNEX Corp. | 23,297 | 2,074,365 |
Vontier Corp. | 87,789 | 2,381,716 |
35,129,336 | ||
Energy Equipment & Services — 0.7% | ||
ChampionX Corp. | 110,400 | 2,989,632 |
Helmerich & Payne, Inc. | 58,053 | 1,925,037 |
NOV, Inc. | 218,258 | 3,655,822 |
Valaris Ltd. * | 33,407 | 2,004,420 |
10,574,911 | ||
Entertainment — 1.2% | ||
AMC Entertainment Holdings, Inc., Class A * (a) | 287,176 | 1,579,468 |
Endeavor Group Holdings, Inc., Class A * | 96,480 | 2,487,254 |
Liberty Media Corp.-Liberty Formula One, Class A * | 13,341 | 864,230 |
Liberty Media Corp.-Liberty Formula One, Class C * | 115,232 | 8,318,598 |
Lions Gate Entertainment Corp., Class A * | 33,384 | 383,916 |
Lions Gate Entertainment Corp., Class B * | 69,546 | 742,056 |
Madison Square Garden Sports Corp. | 9,914 | 1,987,757 |
Playtika Holding Corp. * | 50,173 | 501,730 |
Warner Music Group Corp., Class A | 65,334 | 1,990,727 |
18,855,736 | ||
Financial Services — 1.4% | ||
Affirm Holdings, Inc. * (a) | 118,286 | 1,166,300 |
Enact Holdings, Inc. (a) | 16,281 | 393,023 |
Essent Group Ltd. | 59,823 | 2,540,683 |
Euronet Worldwide, Inc. * | 26,195 | 2,900,834 |
Flywire Corp. * | 34,812 | 1,015,466 |
MGIC Investment Corp. | 163,084 | 2,425,059 |
Radian Group, Inc. | 87,301 | 2,118,795 |
TFS Financial Corp. (a) | 26,476 | 318,771 |
Toast, Inc., Class A * (a) | 172,829 | 3,145,488 |
Western Union Co. (The) | 207,563 | 2,268,664 |
WEX, Inc. * | 24,200 | 4,291,870 |
22,584,953 | ||
Food Products — 1.3% | ||
Darling Ingredients, Inc. * (a) | 89,083 | 5,306,674 |
Flowers Foods, Inc. | 106,744 | 2,936,528 |
Freshpet, Inc. * (a) | 26,666 | 1,839,154 |
INVESTMENTS | SHARES | VALUE($) |
Food Products — continued | ||
Ingredion, Inc. | 36,512 | 3,876,479 |
Lancaster Colony Corp. | 11,033 | 2,307,221 |
Pilgrim's Pride Corp. * | 24,949 | 569,087 |
Post Holdings, Inc. * | 29,794 | 2,696,059 |
Seaboard Corp. | 133 | 524,162 |
20,055,364 | ||
Gas Utilities — 0.7% | ||
National Fuel Gas Co. | 51,014 | 2,851,683 |
New Jersey Resources Corp. (a) | 53,827 | 2,779,626 |
ONE Gas, Inc. | 30,068 | 2,313,733 |
Southwest Gas Holdings, Inc. | 36,093 | 2,021,208 |
Spire, Inc. | 29,183 | 1,976,564 |
11,942,814 | ||
Ground Transportation — 1.5% | ||
Avis Budget Group, Inc. * | 13,813 | 2,440,343 |
Hertz Global Holdings, Inc. * (a) | 89,568 | 1,493,994 |
Knight-Swift Transportation Holdings, Inc. | 89,304 | 5,029,601 |
Landstar System, Inc. | 19,940 | 3,510,038 |
Lyft, Inc., Class A * | 178,810 | 1,832,803 |
Ryder System, Inc. | 27,935 | 2,211,335 |
Saia, Inc. * | 14,690 | 4,374,241 |
U-Haul Holding Co. (a) | 5,426 | 331,312 |
XPO, Inc. * | 63,901 | 2,823,146 |
24,046,813 | ||
Health Care Equipment & Supplies — 3.3% | ||
Enovis Corp. * | 26,473 | 1,542,052 |
Envista Holdings Corp. * | 90,715 | 3,491,620 |
Globus Medical, Inc., Class A * | 43,275 | 2,516,008 |
Haemonetics Corp. * | 28,038 | 2,347,061 |
ICU Medical, Inc. * | 11,186 | 2,115,720 |
Inari Medical, Inc. * | 26,805 | 1,780,388 |
Inspire Medical Systems, Inc. * | 16,144 | 4,320,619 |
Integra LifeSciences Holdings Corp. * | 40,354 | 2,232,383 |
Lantheus Holdings, Inc. * | 38,253 | 3,268,719 |
LivaNova plc * | 29,746 | 1,424,833 |
Masimo Corp. * | 26,897 | 5,087,299 |
Merit Medical Systems, Inc. * | 31,621 | 2,570,471 |
NuVasive, Inc. * | 28,969 | 1,246,826 |
Omnicell, Inc. * | 24,804 | 1,507,339 |
Penumbra, Inc. * (a) | 21,116 | 5,999,478 |
QuidelOrtho Corp. * | 29,732 | 2,674,393 |
Shockwave Medical, Inc. * | 20,106 | 5,833,957 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 101 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Health Care Equipment & Supplies — continued | ||
STAAR Surgical Co. * | 26,763 | 1,885,989 |
Tandem Diabetes Care, Inc. * | 35,732 | 1,414,273 |
53,259,428 | ||
Health Care Providers & Services — 2.6% | ||
Acadia Healthcare Co., Inc. * | 50,535 | 3,653,175 |
Amedisys, Inc. * | 18,044 | 1,448,933 |
AMN Healthcare Services, Inc. * | 24,066 | 2,078,099 |
Apollo Medical Holdings, Inc. * (a) | 21,872 | 776,237 |
Chemed Corp. | 8,279 | 4,563,799 |
Encompass Health Corp. | 55,444 | 3,556,733 |
Ensign Group, Inc. (The) | 30,950 | 3,004,936 |
Guardant Health, Inc. * | 56,931 | 1,284,363 |
HealthEquity, Inc. * | 47,021 | 2,513,272 |
LifeStance Health Group, Inc. * | 52,214 | 425,544 |
Oak Street Health, Inc. * (a) | 64,814 | 2,525,802 |
Option Care Health, Inc. * | 92,982 | 2,989,371 |
Patterson Cos., Inc. | 47,986 | 1,300,900 |
Premier, Inc., Class A | 66,076 | 2,202,313 |
Privia Health Group, Inc. * | 27,940 | 771,982 |
Progyny, Inc. * | 41,802 | 1,389,499 |
R1 RCM, Inc. * | 76,395 | 1,190,998 |
Surgery Partners, Inc. * | 37,471 | 1,486,100 |
Tenet Healthcare Corp. * | 60,106 | 4,406,972 |
41,569,028 | ||
Health Care REITs — 0.6% | ||
Medical Properties Trust, Inc. (a) | 332,853 | 2,919,121 |
National Health Investors, Inc. | 24,094 | 1,199,158 |
Omega Healthcare Investors, Inc. (a) | 130,178 | 3,483,563 |
Sabra Health Care REIT, Inc. (a) | 128,365 | 1,463,361 |
9,065,203 | ||
Health Care Technology — 0.4% | ||
Certara, Inc. * | 58,573 | 1,415,709 |
Doximity, Inc., Class A * (a) | 65,937 | 2,423,185 |
Multiplan Corp. * (a) | 131,389 | 128,538 |
Teladoc Health, Inc. * (a) | 89,998 | 2,387,647 |
6,355,079 | ||
Hotel & Resort REITs — 0.6% | ||
Apple Hospitality REIT, Inc. | 118,226 | 1,760,385 |
Park Hotels & Resorts, Inc. | 124,957 | 1,505,732 |
Pebblebrook Hotel Trust (a) | 73,068 | 1,039,758 |
RLJ Lodging Trust | 90,065 | 909,656 |
INVESTMENTS | SHARES | VALUE($) |
Hotel & Resort REITs — continued | ||
Ryman Hospitality Properties, Inc. | 30,653 | 2,748,348 |
Sunstone Hotel Investors, Inc. | 116,900 | 1,114,056 |
9,077,935 | ||
Hotels, Restaurants & Leisure — 3.5% | ||
Boyd Gaming Corp. | 44,092 | 3,059,985 |
Choice Hotels International, Inc. (a) | 15,396 | 1,963,298 |
Churchill Downs, Inc. | 18,264 | 5,342,768 |
Cracker Barrel Old Country Store, Inc. (a) | 12,310 | 1,306,830 |
DraftKings, Inc., Class A * | 249,424 | 5,464,880 |
Hilton Grand Vacations, Inc. * | 44,126 | 1,888,593 |
Hyatt Hotels Corp., Class A * | 26,760 | 3,058,668 |
Life Time Group Holdings, Inc. * (a) | 31,307 | 650,872 |
Light & Wonder, Inc. * | 52,046 | 3,137,853 |
Marriott Vacations Worldwide Corp. | 21,294 | 2,865,321 |
Norwegian Cruise Line Holdings Ltd. * (a) | 234,164 | 3,126,089 |
Penn Entertainment, Inc. * | 86,185 | 2,567,451 |
Planet Fitness, Inc., Class A * | 46,330 | 3,851,876 |
SeaWorld Entertainment, Inc. * (a) | 22,019 | 1,181,539 |
Six Flags Entertainment Corp. * | 41,110 | 997,740 |
Texas Roadhouse, Inc. | 37,202 | 4,115,285 |
Travel + Leisure Co. | 45,164 | 1,728,426 |
Wendy's Co. (The) | 94,689 | 2,092,627 |
Wingstop, Inc. | 16,596 | 3,321,026 |
Wyndham Hotels & Resorts, Inc. * | 49,100 | 3,349,602 |
55,070,729 | ||
Household Durables — 1.3% | ||
Helen of Troy Ltd. * | 13,351 | 1,339,639 |
Leggett & Platt, Inc. | 73,709 | 2,381,538 |
Mohawk Industries, Inc. * | 29,281 | 3,100,858 |
Newell Brands, Inc. | 209,168 | 2,541,391 |
Tempur Sealy International, Inc. | 94,678 | 3,547,585 |
Toll Brothers, Inc. | 57,136 | 3,651,562 |
TopBuild Corp. * | 17,774 | 4,007,681 |
20,570,254 | ||
Household Products — 0.2% | ||
Energizer Holdings, Inc. | 36,894 | 1,233,367 |
Reynolds Consumer Products, Inc. | 30,342 | 850,486 |
Spectrum Brands Holdings, Inc. | 22,798 | 1,516,067 |
3,599,920 | ||
Independent Power and Renewable Electricity Producers — 0.3% | ||
Clearway Energy, Inc. | 19,249 | 557,836 |
Clearway Energy, Inc., Class C | 45,699 | 1,387,879 |
102 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Independent Power and Renewable Electricity Producers — continued | ||
Ormat Technologies, Inc. (a) | 29,155 | 2,501,791 |
Sunnova Energy International, Inc. * (a) | 54,888 | 985,788 |
5,433,294 | ||
Industrial REITs — 1.6% | ||
Americold Realty Trust, Inc. | 149,712 | 4,429,978 |
EastGroup Properties, Inc. | 24,191 | 4,029,253 |
First Industrial Realty Trust, Inc. | 73,413 | 3,851,980 |
Innovative Industrial Properties, Inc. | 15,527 | 1,064,376 |
Rexford Industrial Realty, Inc. | 105,066 | 5,859,531 |
STAG Industrial, Inc. | 99,590 | 3,373,113 |
Terreno Realty Corp. | 40,565 | 2,498,399 |
25,106,630 | ||
Insurance — 3.4% | ||
Assurant, Inc. | 29,332 | 3,611,649 |
Assured Guaranty Ltd. | 33,311 | 1,794,464 |
Axis Capital Holdings Ltd. | 42,799 | 2,419,856 |
Brighthouse Financial, Inc. * | 37,965 | 1,678,053 |
CNO Financial Group, Inc. | 63,560 | 1,426,286 |
Enstar Group Ltd. * (a) | 7,560 | 1,818,936 |
Erie Indemnity Co., Class A | 13,845 | 3,008,934 |
First American Financial Corp. | 57,560 | 3,316,032 |
Hanover Insurance Group, Inc. (The) | 19,770 | 2,363,701 |
Kemper Corp. | 35,556 | 1,729,799 |
Kinsale Capital Group, Inc. | 12,047 | 3,935,875 |
Old Republic International Corp. | 153,281 | 3,873,411 |
Primerica, Inc. | 20,499 | 3,741,273 |
RenaissanceRe Holdings Ltd. (Bermuda) | 24,266 | 5,227,139 |
RLI Corp. (a) | 22,466 | 3,123,897 |
Ryan Specialty Holdings, Inc. * | 46,191 | 1,887,364 |
Selective Insurance Group, Inc. | 33,509 | 3,227,922 |
Unum Group | 103,914 | 4,385,171 |
White Mountains Insurance Group Ltd. | 1,429 | 2,046,528 |
54,616,290 | ||
Interactive Media & Services — 0.5% | ||
Bumble, Inc., Class A * | 51,887 | 944,862 |
IAC, Inc. * | 43,392 | 2,246,404 |
Rumble, Inc. * (a) | 44,578 | 354,841 |
TripAdvisor, Inc. * | 58,207 | 1,032,010 |
Yelp, Inc. * | 38,706 | 1,158,084 |
Ziff Davis, Inc. * | 26,235 | 1,918,828 |
7,655,029 |
INVESTMENTS | SHARES | VALUE($) |
IT Services — 0.1% | ||
DigitalOcean Holdings, Inc. * (a) | 33,734 | 1,063,971 |
Thoughtworks Holding, Inc. * | 36,732 | 228,840 |
1,292,811 | ||
Leisure Products — 1.0% | ||
Brunswick Corp. | 40,274 | 3,414,833 |
Mattel, Inc. * | 196,922 | 3,544,596 |
Peloton Interactive, Inc., Class A * (a) | 181,808 | 1,614,455 |
Polaris, Inc. (a) | 30,299 | 3,291,986 |
Topgolf Callaway Brands Corp. * | 77,013 | 1,707,378 |
YETI Holdings, Inc. * | 47,912 | 1,890,128 |
15,463,376 | ||
Life Sciences Tools & Services — 1.3% | ||
10X Genomics, Inc., Class A * | 53,101 | 2,784,085 |
Azenta, Inc. * | 38,394 | 1,669,755 |
Bruker Corp. | 55,563 | 4,396,700 |
Maravai LifeSciences Holdings, Inc., Class A * | 60,656 | 836,446 |
Medpace Holdings, Inc. * | 13,975 | 2,796,957 |
Repligen Corp. * | 28,711 | 4,353,449 |
Sotera Health Co. * | 54,845 | 919,751 |
Syneos Health, Inc. * | 57,174 | 2,244,651 |
20,001,794 | ||
Machinery — 4.4% | ||
AGCO Corp. | 34,384 | 4,261,553 |
Allison Transmission Holdings, Inc. | 51,376 | 2,506,635 |
Chart Industries, Inc. * | 23,661 | 3,149,279 |
Crane NXT Co. | 26,511 | 1,255,561 |
Donaldson Co., Inc. | 67,598 | 4,295,853 |
Evoqua Water Technologies Corp. * | 67,911 | 3,358,199 |
Flowserve Corp. (a) | 72,610 | 2,424,448 |
Gates Industrial Corp. plc * | 56,513 | 761,230 |
Graco, Inc. | 93,650 | 7,425,508 |
ITT, Inc. | 45,957 | 3,880,609 |
Kennametal, Inc. | 44,772 | 1,162,281 |
Lincoln Electric Holdings, Inc. | 32,102 | 5,386,716 |
Middleby Corp. (The) * | 29,934 | 4,217,102 |
Nikola Corp. * (a) | 202,335 | 179,168 |
Nordson Corp. | 29,863 | 6,459,666 |
Oshkosh Corp. | 36,356 | 2,781,961 |
RBC Bearings, Inc. * | 16,130 | 3,661,671 |
Timken Co. (The) | 36,774 | 2,826,082 |
Toro Co. (The) | 58,151 | 6,062,823 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 103 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Machinery — continued | ||
Trinity Industries, Inc. | 45,228 | 1,083,211 |
Watts Water Technologies, Inc., Class A | 15,188 | 2,456,355 |
69,595,911 | ||
Marine Transportation — 0.1% | ||
Kirby Corp. * | 33,279 | 2,390,763 |
Media — 0.9% | ||
Altice USA, Inc., Class A * | 120,848 | 422,968 |
Cable One, Inc. | 2,671 | 2,025,713 |
DISH Network Corp., Class A * (a) | 139,672 | 1,048,937 |
John Wiley & Sons, Inc., Class A | 23,791 | 917,619 |
New York Times Co. (The), Class A | 91,463 | 3,635,654 |
Nexstar Media Group, Inc. | 20,975 | 3,638,114 |
TEGNA, Inc. | 124,002 | 2,120,434 |
13,809,439 | ||
Metals & Mining — 1.8% | ||
Alcoa Corp. | 98,367 | 3,653,350 |
Cleveland-Cliffs, Inc. * | 286,332 | 4,403,786 |
Commercial Metals Co. | 65,060 | 3,037,651 |
MP Materials Corp. * | 51,289 | 1,111,433 |
Reliance Steel & Aluminum Co. | 32,598 | 8,077,784 |
Royal Gold, Inc. | 36,486 | 4,832,206 |
United States Steel Corp. | 125,927 | 2,881,210 |
Worthington Industries, Inc. | 16,861 | 1,001,375 |
28,998,795 | ||
Mortgage Real Estate Investment Trusts (REITs) — 0.6% | ||
AGNC Investment Corp. (a) | 319,299 | 3,164,253 |
Blackstone Mortgage Trust, Inc., Class A | 95,713 | 1,745,805 |
Rithm Capital Corp. | 263,230 | 2,147,957 |
Starwood Property Trust, Inc. (a) | 172,030 | 3,077,617 |
10,135,632 | ||
Multi-Utilities — 0.3% | ||
Avista Corp. | 40,989 | 1,806,385 |
Black Hills Corp. | 36,138 | 2,359,450 |
4,165,835 | ||
Office REITs — 0.6% | ||
Cousins Properties, Inc. | 84,210 | 1,836,620 |
Douglas Emmett, Inc. (a) | 97,699 | 1,258,363 |
Equity Commonwealth | 60,855 | 1,260,916 |
Highwoods Properties, Inc. | 58,483 | 1,340,430 |
JBG SMITH Properties | 55,032 | 785,307 |
Kilroy Realty Corp. | 58,570 | 1,712,587 |
INVESTMENTS | SHARES | VALUE($) |
Office REITs — continued | ||
SL Green Realty Corp. (a) | 35,774 | 846,771 |
Vornado Realty Trust (a) | 89,528 | 1,343,815 |
10,384,809 | ||
Oil, Gas & Consumable Fuels — 3.5% | ||
Antero Midstream Corp. | 186,144 | 2,002,909 |
Antero Resources Corp. * | 153,429 | 3,527,333 |
Chesapeake Energy Corp. (a) | 59,560 | 4,924,421 |
Chord Energy Corp. | 23,112 | 3,289,531 |
Civitas Resources, Inc. (a) | 28,856 | 1,992,507 |
CNX Resources Corp. * | 94,536 | 1,468,144 |
Comstock Resources, Inc. (a) | 50,901 | 585,362 |
CVR Energy, Inc. | 16,199 | 426,682 |
Denbury, Inc. * | 27,646 | 2,581,583 |
DT Midstream, Inc. | 53,756 | 2,648,558 |
Enviva, Inc. (a) | 17,112 | 367,908 |
Equitrans Midstream Corp. | 240,522 | 1,238,688 |
HF Sinclair Corp. (a) | 74,747 | 3,297,090 |
Magnolia Oil & Gas Corp., Class A (a) | 92,730 | 1,958,458 |
Matador Resources Co. | 62,364 | 3,057,707 |
Murphy Oil Corp. | 81,182 | 2,980,191 |
New Fortress Energy, Inc. (a) | 26,664 | 807,653 |
Ovintiv, Inc. | 136,532 | 4,926,075 |
PBF Energy, Inc., Class A | 63,534 | 2,214,795 |
PDC Energy, Inc. | 51,197 | 3,330,365 |
Range Resources Corp. | 134,290 | 3,551,970 |
SM Energy Co. | 68,229 | 1,915,870 |
Southwestern Energy Co. * | 613,289 | 3,182,970 |
56,276,770 | ||
Paper & Forest Products — 0.1% | ||
Louisiana-Pacific Corp. | 39,851 | 2,380,699 |
Passenger Airlines — 0.6% | ||
Alaska Air Group, Inc. * | 70,856 | 3,079,402 |
American Airlines Group, Inc. * (a) | 361,575 | 4,931,883 |
Frontier Group Holdings, Inc. * | 20,563 | 195,143 |
JetBlue Airways Corp. * | 179,955 | 1,284,879 |
Joby Aviation, Inc. * (a) | 162,396 | 703,174 |
10,194,481 | ||
Personal Care Products — 0.4% | ||
Beauty Health Co. (The) * (a) | 51,405 | 589,101 |
BellRing Brands, Inc. * | 74,216 | 2,671,034 |
Coty, Inc., Class A * | 203,710 | 2,418,038 |
104 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Personal Care Products — continued | ||
Herbalife Ltd. * | 54,399 | 808,369 |
Olaplex Holdings, Inc. * | 46,892 | 173,500 |
6,660,042 | ||
Pharmaceuticals — 0.8% | ||
Intra-Cellular Therapies, Inc. * | 48,917 | 3,040,191 |
Organon & Co. | 141,347 | 3,481,377 |
Pacira BioSciences, Inc. * | 25,499 | 1,155,360 |
Perrigo Co. plc | 74,825 | 2,782,742 |
Prestige Consumer Healthcare, Inc. * | 27,588 | 1,697,490 |
Tilray Brands, Inc. (Canada) * (a) | 342,041 | 803,796 |
12,960,956 | ||
Professional Services — 3.0% | ||
Alight, Inc., Class A * | 174,878 | 1,617,621 |
ASGN, Inc. * | 27,752 | 1,986,766 |
CACI International, Inc., Class A * | 13,045 | 4,087,259 |
Concentrix Corp. (a) | 23,733 | 2,290,472 |
Dun & Bradstreet Holdings, Inc. | 121,056 | 1,352,196 |
ExlService Holdings, Inc. * | 18,397 | 3,281,657 |
Exponent, Inc. | 28,136 | 2,589,919 |
FTI Consulting, Inc. * (a) | 19,103 | 3,448,091 |
Genpact Ltd. | 93,526 | 4,166,583 |
Insperity, Inc. | 19,760 | 2,419,810 |
KBR, Inc. | 76,263 | 4,326,400 |
ManpowerGroup, Inc. | 28,094 | 2,126,997 |
Maximus, Inc. | 33,789 | 2,826,450 |
Paycor HCM, Inc. * (a) | 26,467 | 621,974 |
Robert Half International, Inc. | 59,831 | 4,367,663 |
Science Applications International Corp. | 30,376 | 3,099,263 |
TriNet Group, Inc. * | 20,405 | 1,893,176 |
Upwork, Inc. * | 66,416 | 635,601 |
47,137,898 | ||
Real Estate Management & Development — 0.5% | ||
Cushman & Wakefield plc * | 90,320 | 889,652 |
DigitalBridge Group, Inc. | 79,971 | 994,039 |
eXp World Holdings, Inc. (a) | 40,739 | 476,239 |
Howard Hughes Corp. (The) * | 19,108 | 1,478,386 |
Jones Lang LaSalle, Inc. * (a) | 26,376 | 3,667,319 |
WeWork, Inc. * (a) | 129,869 | 54,740 |
7,560,375 | ||
Residential REITs — 0.7% | ||
American Homes 4 Rent, Class A | 170,548 | 5,672,426 |
INVESTMENTS | SHARES | VALUE($) |
Residential REITs — continued | ||
Apartment Income REIT Corp. | 82,645 | 3,056,212 |
Independence Realty Trust, Inc. | 124,381 | 2,070,944 |
10,799,582 | ||
Retail REITs — 1.3% | ||
Agree Realty Corp. | 49,230 | 3,347,148 |
Brixmor Property Group, Inc. | 166,673 | 3,555,135 |
Kite Realty Group Trust | 121,751 | 2,522,681 |
National Retail Properties, Inc. | 100,813 | 4,385,365 |
Phillips Edison & Co., Inc. | 65,062 | 2,052,055 |
SITE Centers Corp. | 101,952 | 1,258,088 |
Spirit Realty Capital, Inc. | 77,600 | 2,984,496 |
20,104,968 | ||
Semiconductors & Semiconductor Equipment — 2.0% | ||
Allegro MicroSystems, Inc. (Japan) * | 36,156 | 1,293,300 |
Ambarella, Inc. * | 20,458 | 1,267,987 |
Amkor Technology, Inc. (a) | 55,838 | 1,249,096 |
Cirrus Logic, Inc. * | 30,702 | 2,633,925 |
Lattice Semiconductor Corp. * | 76,138 | 6,068,199 |
MACOM Technology Solutions Holdings, Inc. * | 28,710 | 1,674,941 |
MKS Instruments, Inc. | 31,766 | 2,664,214 |
Power Integrations, Inc. | 31,657 | 2,303,996 |
Semtech Corp. * | 35,492 | 691,739 |
Silicon Laboratories, Inc. * | 17,736 | 2,470,625 |
SiTime Corp. * | 8,908 | 966,251 |
Synaptics, Inc. * | 21,908 | 1,940,173 |
Universal Display Corp. | 24,130 | 3,220,390 |
Wolfspeed, Inc. * (a) | 69,126 | 3,217,815 |
31,662,651 | ||
Software — 6.0% | ||
ACI Worldwide, Inc. * | 62,427 | 1,581,276 |
Alteryx, Inc., Class A * | 34,239 | 1,408,250 |
AppLovin Corp., Class A * (a) | 68,363 | 1,162,171 |
Asana, Inc., Class A * | 42,447 | 686,792 |
Black Knight, Inc. * | 86,712 | 4,737,944 |
Blackbaud, Inc. * | 24,779 | 1,718,548 |
Blackline, Inc. * | 30,201 | 1,682,498 |
Box, Inc., Class A * | 79,402 | 2,100,977 |
CCC Intelligent Solutions Holdings, Inc. * (a) | 58,644 | 509,030 |
Clear Secure, Inc., Class A (a) | 43,305 | 1,047,548 |
CommVault Systems, Inc. * | 24,753 | 1,442,357 |
Cvent Holding Corp. * (a) | 35,226 | 296,251 |
Dolby Laboratories, Inc., Class A | 33,339 | 2,790,141 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 105 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Software — continued | ||
DoubleVerify Holdings, Inc. * | 48,554 | 1,428,459 |
Dropbox, Inc., Class A * | 149,851 | 3,047,969 |
Elastic NV * | 43,057 | 2,465,013 |
EngageSmart, Inc. * | 16,528 | 283,786 |
Envestnet, Inc. * | 30,738 | 1,948,174 |
Fair Isaac Corp. * | 13,956 | 10,159,270 |
Five9, Inc. * | 39,178 | 2,540,301 |
Guidewire Software, Inc. * | 45,474 | 3,464,664 |
Informatica, Inc., Class A * | 21,314 | 329,514 |
Jamf Holding Corp. * | 24,941 | 471,884 |
JFrog Ltd. (Israel) * | 33,684 | 625,512 |
Manhattan Associates, Inc. * | 34,740 | 5,755,723 |
MicroStrategy, Inc., Class A * (a) | 5,312 | 1,744,355 |
nCino, Inc. * (a) | 42,574 | 1,052,855 |
NCR Corp. * | 76,682 | 1,709,242 |
New Relic, Inc. * | 32,524 | 2,324,490 |
Nutanix, Inc., Class A * | 127,861 | 3,066,107 |
Pegasystems, Inc. | 22,846 | 1,042,235 |
PowerSchool Holdings, Inc., Class A * | 22,156 | 462,617 |
Procore Technologies, Inc. * (a) | 38,343 | 2,047,900 |
Qualtrics International, Inc., Class A * | 62,626 | 1,122,884 |
Qualys, Inc. * | 19,233 | 2,172,175 |
Rapid7, Inc. * | 32,935 | 1,600,970 |
RingCentral, Inc., Class A * | 43,069 | 1,186,982 |
SentinelOne, Inc., Class A * | 121,664 | 1,955,140 |
Smartsheet, Inc., Class A * | 72,994 | 2,983,265 |
Sprout Social, Inc., Class A * | 26,271 | 1,294,109 |
SPS Commerce, Inc. * | 20,000 | 2,946,000 |
Tenable Holdings, Inc. * | 62,836 | 2,324,304 |
Teradata Corp. * | 56,546 | 2,188,896 |
UiPath, Inc., Class A * | 196,027 | 2,760,060 |
Varonis Systems, Inc. * | 59,788 | 1,384,690 |
Verint Systems, Inc. * | 36,602 | 1,335,607 |
Workiva, Inc. * | 25,424 | 2,375,110 |
94,764,045 | ||
Specialized REITs — 2.0% | ||
CubeSmart | 124,817 | 5,677,925 |
EPR Properties | 41,690 | 1,749,312 |
Gaming and Leisure Properties, Inc. | 143,096 | 7,440,992 |
Lamar Advertising Co., Class A | 48,494 | 5,124,846 |
Life Storage, Inc. | 47,207 | 6,343,677 |
National Storage Affiliates Trust | 46,950 | 1,809,923 |
Outfront Media, Inc. (a) | 81,166 | 1,352,226 |
INVESTMENTS | SHARES | VALUE($) |
Specialized REITs — continued | ||
Rayonier, Inc. | 81,837 | 2,566,408 |
Uniti Group, Inc. | 131,820 | 450,824 |
32,516,133 | ||
Specialty Retail — 3.3% | ||
American Eagle Outfitters, Inc. | 96,864 | 1,297,009 |
AutoNation, Inc. * | 18,990 | 2,500,983 |
Chewy, Inc., Class A * (a) | 51,744 | 1,604,581 |
Dick's Sporting Goods, Inc. | 33,250 | 4,821,583 |
Five Below, Inc. * | 30,836 | 6,085,793 |
Floor & Decor Holdings, Inc., Class A * | 58,954 | 5,856,490 |
Foot Locker, Inc. | 44,091 | 1,851,381 |
GameStop Corp., Class A * (a) | 140,479 | 2,709,840 |
Gap, Inc. (The) (a) | 117,645 | 1,129,392 |
Leslie's, Inc. * (a) | 82,662 | 896,883 |
Lithia Motors, Inc., Class A | 15,200 | 3,357,528 |
Murphy USA, Inc. | 11,116 | 3,059,457 |
National Vision Holdings, Inc. * | 43,824 | 922,057 |
Penske Automotive Group, Inc. (a) | 13,852 | 1,919,610 |
Petco Health & Wellness Co., Inc. * | 44,363 | 441,856 |
RH * | 10,371 | 2,645,953 |
Urban Outfitters, Inc. * | 33,288 | 900,773 |
Valvoline, Inc. | 95,532 | 3,300,631 |
Victoria's Secret & Co. * (a) | 44,928 | 1,393,217 |
Wayfair, Inc., Class A * (a) | 42,962 | 1,496,366 |
Williams-Sonoma, Inc. (a) | 36,967 | 4,474,486 |
52,665,869 | ||
Technology Hardware, Storage & Peripherals — 0.3% | ||
Pure Storage, Inc., Class A * | 158,075 | 3,608,852 |
Xerox Holdings Corp. | 62,317 | 976,508 |
4,585,360 | ||
Textiles, Apparel & Luxury Goods — 1.9% | ||
Capri Holdings Ltd. * | 69,853 | 2,898,900 |
Carter's, Inc. (a) | 21,211 | 1,479,892 |
Columbia Sportswear Co. | 19,668 | 1,643,065 |
Crocs, Inc. * (a) | 34,295 | 4,241,263 |
Deckers Outdoor Corp. * | 14,636 | 7,015,620 |
Hanesbrands, Inc. (a) | 194,137 | 1,017,278 |
PVH Corp. | 35,195 | 3,020,083 |
Ralph Lauren Corp. | 22,847 | 2,622,607 |
Skechers U.S.A., Inc., Class A * | 74,602 | 3,968,080 |
Under Armour, Inc., Class A * | 104,852 | 930,037 |
Under Armour, Inc., Class C * | 105,359 | 847,086 |
29,683,911 |
106 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Trading Companies & Distributors — 1.6% | ||
Air Lease Corp. | 57,292 | 2,304,284 |
Applied Industrial Technologies, Inc. | 21,439 | 2,908,415 |
Beacon Roofing Supply, Inc. * | 28,194 | 1,696,715 |
Core & Main, Inc., Class A * (a) | 41,174 | 1,072,994 |
GATX Corp. | 19,562 | 2,228,307 |
Herc Holdings, Inc. | 13,807 | 1,380,976 |
MSC Industrial Direct Co., Inc., Class A | 26,301 | 2,386,290 |
Rush Enterprises, Inc., Class B | 4,109 | 240,705 |
SiteOne Landscape Supply, Inc. * (a) | 25,040 | 3,699,410 |
Univar Solutions, Inc. * | 90,644 | 3,217,862 |
WESCO International, Inc. | 24,852 | 3,578,688 |
24,714,646 | ||
Water Utilities — 0.4% | ||
Essential Utilities, Inc. | 132,647 | 5,664,027 |
Total Common Stocks (Cost $1,642,708,518) | 1,571,965,056 | |
Short-Term Investments — 10.1% | ||
Investment Companies — 0.9% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (b) (c) (Cost $14,096,298) | 14,096,298 | 14,096,298 |
Investment of Cash Collateral from Securities Loaned — 9.2% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.01% (b) (c) | 129,451,165 | 129,464,110 |
INVESTMENTS | SHARES | VALUE($) |
Investment of Cash Collateral from Securities Loaned — continued | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (b) (c) | 16,967,567 | 16,967,567 |
Total Investment of Cash Collateral from Securities Loaned (Cost $146,466,813) | 146,431,677 | |
Total Short-Term Investments (Cost $160,563,111) | 160,527,975 | |
Total Investments — 109.1% (Cost $1,803,271,629) | 1,732,493,031 | |
Liabilities in Excess of Other Assets — (9.1)% | (144,648,423 ) | |
NET ASSETS — 100.0% | 1,587,844,608 |
Percentages indicated are based on net assets. |
Abbreviations | |
REIT | Real Estate Investment Trust |
* | Non-income producing security. |
(a) | The security or a portion of this security is on loan at April 30, 2023. The total value of securities on loan at April 30, 2023 is $143,449,282. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of April 30, 2023. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P Midcap 400 E-Mini Index | 60 | 06/16/2023 | USD | 15,009,600 | 146,307 |
Abbreviations | |
USD | United States Dollar |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 107 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 98.7% | ||
Aerospace & Defense — 1.0% | ||
AAR Corp. * | 18,306 | 966,191 |
AeroVironment, Inc. * | 14,076 | 1,417,313 |
AerSale Corp. * (a) | 8,647 | 139,909 |
Cadre Holdings, Inc. (a) | 8,536 | 179,768 |
Kaman Corp. | 15,672 | 345,881 |
Kratos Defense & Security Solutions, Inc. * | 70,398 | 908,134 |
Maxar Technologies, Inc. | 41,710 | 2,198,951 |
Triumph Group, Inc. * | 36,324 | 392,662 |
V2X, Inc. * | 6,141 | 265,291 |
Virgin Galactic Holdings, Inc. * (a) | 133,496 | 485,925 |
7,300,025 | ||
Air Freight & Logistics — 0.5% | ||
Air Transport Services Group, Inc. * | 31,683 | 643,481 |
Forward Air Corp. | 14,843 | 1,566,085 |
Hub Group, Inc., Class A * | 18,267 | 1,377,332 |
3,586,898 | ||
Automobile Components — 1.1% | ||
American Axle & Manufacturing Holdings, Inc. * | 64,033 | 457,836 |
Dorman Products, Inc. * | 15,799 | 1,361,242 |
Gentherm, Inc. * | 18,534 | 1,105,553 |
Holley, Inc. * (a) | 28,222 | 68,015 |
LCI Industries | 14,209 | 1,605,049 |
Mobileye Global, Inc., Class A (Israel) * (a) | 26,132 | 983,608 |
Patrick Industries, Inc. | 12,040 | 826,305 |
Solid Power, Inc. * (a) | 60,926 | 138,302 |
Standard Motor Products, Inc. | 10,491 | 377,781 |
XPEL, Inc. * (b) | 10,968 | 801,322 |
7,725,013 | ||
Automobiles — 0.2% | ||
Fisker, Inc. * (a) | 88,306 | 568,691 |
Winnebago Industries, Inc. | 17,038 | 990,589 |
1,559,280 | ||
Banks — 8.1% | ||
1st Source Corp. | 9,504 | 396,127 |
Amalgamated Financial Corp. | 9,902 | 161,205 |
Amerant Bancorp, Inc. | 14,341 | 266,743 |
Ameris Bancorp | 36,413 | 1,219,836 |
Atlantic Union Bankshares Corp. | 41,726 | 1,194,198 |
Axos Financial, Inc. * | 29,858 | 1,214,325 |
Banc of California, Inc. | 30,653 | 347,912 |
BancFirst Corp. | 9,769 | 780,445 |
Bancorp, Inc. (The) * | 31,109 | 992,688 |
INVESTMENTS | SHARES | VALUE($) |
Banks — continued | ||
Banner Corp. | 19,087 | 952,823 |
Berkshire Hills Bancorp, Inc. | 24,781 | 527,092 |
Brookline Bancorp, Inc. | 49,035 | 467,794 |
Capitol Federal Financial, Inc. | 70,785 | 438,867 |
Cathay General Bancorp | 40,631 | 1,294,910 |
Central Pacific Financial Corp. | 15,145 | 240,503 |
City Holding Co. | 8,316 | 758,336 |
Columbia Banking System, Inc. | 116,217 | 2,482,395 |
Columbia Financial, Inc. * (a) | 18,283 | 306,789 |
Community Bank System, Inc. | 30,023 | 1,499,949 |
Community Trust Bancorp, Inc. | 8,499 | 306,049 |
Customers Bancorp, Inc. * | 16,984 | 370,931 |
Dime Community Bancshares, Inc. | 18,079 | 372,427 |
Eagle Bancorp, Inc. | 17,497 | 439,175 |
Eastern Bankshares, Inc. | 89,631 | 1,044,201 |
Enterprise Financial Services Corp. | 20,845 | 891,332 |
FB Financial Corp. | 19,573 | 576,033 |
First Bancorp | 22,736 | 699,814 |
First BanCorp (Puerto Rico) | 102,093 | 1,199,593 |
First Busey Corp. | 28,753 | 522,730 |
First Commonwealth Financial Corp. | 57,456 | 717,051 |
First Financial Bancorp | 53,013 | 1,097,369 |
First Foundation, Inc. | 28,337 | 178,240 |
First Merchants Corp. | 33,074 | 965,099 |
Flushing Financial Corp. | 15,664 | 188,438 |
Fulton Financial Corp. | 93,652 | 1,117,268 |
German American Bancorp, Inc. | 15,463 | 449,509 |
Heartland Financial USA, Inc. | 21,111 | 687,374 |
Heritage Financial Corp. | 19,599 | 345,138 |
Hilltop Holdings, Inc. | 25,678 | 796,532 |
Hope Bancorp, Inc. | 66,778 | 607,680 |
Independent Bank Group, Inc. | 19,819 | 721,015 |
International Bancshares Corp. | 29,498 | 1,258,680 |
Kearny Financial Corp. | 37,679 | 293,519 |
Lakeland Bancorp, Inc. | 36,256 | 519,911 |
Lakeland Financial Corp. | 14,170 | 717,994 |
Live Oak Bancshares, Inc. | 18,459 | 434,894 |
National Bank Holdings Corp., Class A | 21,019 | 668,404 |
NBT Bancorp, Inc. | 23,971 | 772,825 |
Nicolet Bankshares, Inc. * (a) | 7,457 | 427,361 |
Northfield Bancorp, Inc. | 23,284 | 242,619 |
Northwest Bancshares, Inc. | 70,988 | 829,850 |
OceanFirst Financial Corp. | 33,061 | 528,976 |
OFG Bancorp (Puerto Rico) | 26,618 | 680,622 |
108 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Banks — continued | ||
Origin Bancorp, Inc. | 16,321 | 480,327 |
Pacific Premier Bancorp, Inc. | 53,102 | 1,180,989 |
Park National Corp. (a) | 8,064 | 873,492 |
Pathward Financial, Inc. | 15,383 | 685,005 |
Preferred Bank | 7,379 | 354,782 |
Premier Financial Corp. | 19,901 | 330,556 |
Provident Financial Services, Inc. | 42,066 | 735,314 |
Renasant Corp. | 31,303 | 880,240 |
Republic Bancorp, Inc., Class A | 4,978 | 195,635 |
S&T Bancorp, Inc. | 21,765 | 599,190 |
Sandy Spring Bancorp, Inc. | 24,926 | 560,336 |
Seacoast Banking Corp. of Florida | 46,751 | 1,037,405 |
Simmons First National Corp., Class A | 70,997 | 1,186,360 |
Southside Bancshares, Inc. | 16,758 | 531,731 |
Stellar Bancorp, Inc. | 25,165 | 577,285 |
Stock Yards Bancorp, Inc. | 16,345 | 794,367 |
Tompkins Financial Corp. | 6,992 | 409,871 |
Towne Bank | 37,935 | 898,680 |
TriCo Bancshares | 18,599 | 666,030 |
Triumph Financial, Inc. * | 12,634 | 656,463 |
Trustmark Corp. | 34,089 | 814,386 |
Veritex Holdings, Inc. | 30,166 | 519,157 |
Washington Federal, Inc. | 36,587 | 1,025,899 |
Washington Trust Bancorp, Inc. | 9,585 | 269,434 |
WesBanco, Inc. | 33,088 | 880,803 |
Westamerica BanCorp | 15,066 | 610,324 |
WSFS Financial Corp. | 34,465 | 1,212,134 |
56,177,785 | ||
Beverages — 0.2% | ||
Duckhorn Portfolio, Inc. (The) * | 23,797 | 359,335 |
MGP Ingredients, Inc. | 8,580 | 846,674 |
1,206,009 | ||
Biotechnology — 7.5% | ||
Agios Pharmaceuticals, Inc. * | 30,680 | 701,652 |
Alector, Inc. * | 34,198 | 225,707 |
Allogene Therapeutics, Inc. * (a) | 50,800 | 275,844 |
Amicus Therapeutics, Inc. * | 139,749 | 1,612,703 |
AnaptysBio, Inc. * | 11,112 | 231,352 |
Arcellx, Inc. * (a) | 15,201 | 648,779 |
Arcus Biosciences, Inc. * | 29,108 | 519,578 |
Arcutis Biotherapeutics, Inc. * | 22,489 | 311,248 |
Aurinia Pharmaceuticals, Inc. (Canada) * | 79,414 | 893,408 |
Avid Bioservices, Inc. * | 34,806 | 628,248 |
INVESTMENTS | SHARES | VALUE($) |
Biotechnology — continued | ||
Avidity Biosciences, Inc. * | 37,158 | 460,759 |
BioCryst Pharmaceuticals, Inc. * | 104,172 | 792,749 |
Biohaven Ltd. * (a) | 35,799 | 468,251 |
Bridgebio Pharma, Inc. * | 65,498 | 951,031 |
CareDx, Inc. * | 29,925 | 242,093 |
Catalyst Pharmaceuticals, Inc. * | 53,522 | 852,070 |
Celldex Therapeutics, Inc. * | 26,317 | 827,406 |
Chinook Therapeutics, Inc. * | 25,041 | 501,070 |
Cogent Biosciences, Inc. * | 39,040 | 420,070 |
Coherus Biosciences, Inc. * | 36,099 | 260,996 |
Deciphera Pharmaceuticals, Inc. * | 30,988 | 440,339 |
Dynavax Technologies Corp. * | 66,301 | 690,193 |
Editas Medicine, Inc. * (a) | 38,422 | 313,524 |
Emergent BioSolutions, Inc. * | 24,800 | 218,984 |
Enanta Pharmaceuticals, Inc. * | 10,980 | 390,339 |
Entrada Therapeutics, Inc. * (a) | 9,557 | 111,912 |
EQRx, Inc. * (a) | 128,290 | 215,527 |
FibroGen, Inc. * | 48,840 | 836,141 |
Gossamer Bio, Inc. * (a) | 43,025 | 55,502 |
IGM Biosciences, Inc. * (a) | 4,823 | 52,233 |
ImmunityBio, Inc. * (a) | 57,782 | 161,790 |
ImmunoGen, Inc. * | 111,017 | 598,382 |
Immunovant, Inc. * | 31,329 | 505,650 |
Inhibrx, Inc. * | 16,797 | 352,737 |
Insmed, Inc. * | 75,710 | 1,476,345 |
Iovance Biotherapeutics, Inc. * | 76,744 | 432,836 |
Ironwood Pharmaceuticals, Inc. * | 74,590 | 776,482 |
iTeos Therapeutics, Inc. * | 13,712 | 188,403 |
IVERIC bio, Inc. * | 72,282 | 2,377,355 |
Keros Therapeutics, Inc. * | 9,668 | 428,824 |
Krystal Biotech, Inc. * | 12,088 | 1,015,392 |
Kura Oncology, Inc. * | 35,113 | 342,001 |
Kymera Therapeutics, Inc. * | 21,743 | 685,774 |
Lyell Immunopharma, Inc. * (a) | 80,833 | 164,091 |
Madrigal Pharmaceuticals, Inc. * (a) | 6,808 | 2,124,096 |
Mersana Therapeutics, Inc. * | 50,218 | 219,955 |
Morphic Holding, Inc. * | 16,619 | 785,414 |
Myriad Genetics, Inc. * | 45,277 | 963,947 |
PMV Pharmaceuticals, Inc. * | 17,966 | 82,823 |
Prime Medicine, Inc. * (a) | 5,316 | 73,201 |
Prometheus Biosciences, Inc. * | 19,219 | 3,727,525 |
Prothena Corp. plc (Ireland) * | 22,014 | 1,158,377 |
PTC Therapeutics, Inc. * | 40,145 | 2,213,595 |
REGENXBIO, Inc. * | 21,047 | 407,470 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 109 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Biotechnology — continued | ||
Replimune Group, Inc. * | 20,571 | 344,153 |
REVOLUTION Medicines, Inc. * | 49,818 | 1,170,225 |
Rhythm Pharmaceuticals, Inc. * | 24,856 | 501,346 |
Rocket Pharmaceuticals, Inc. * | 32,563 | 583,529 |
Roivant Sciences Ltd. * | 61,604 | 526,714 |
Sage Therapeutics, Inc. * | 28,925 | 1,412,986 |
Sana Biotechnology, Inc. * (a) | 48,743 | 257,850 |
Sangamo Therapeutics, Inc. * | 75,546 | 111,053 |
Seres Therapeutics, Inc. * | 51,524 | 251,180 |
SpringWorks Therapeutics, Inc. * | 24,747 | 578,585 |
Stoke Therapeutics, Inc. * | 12,506 | 111,178 |
Syndax Pharmaceuticals, Inc. * | 36,170 | 743,294 |
Tango Therapeutics, Inc. * (a) | 24,030 | 81,702 |
TG Therapeutics, Inc. * | 77,178 | 1,916,330 |
Travere Therapeutics, Inc. * | 35,644 | 768,841 |
Twist Bioscience Corp. * | 31,746 | 396,190 |
Vaxcyte, Inc. * | 41,315 | 1,769,521 |
Veracyte, Inc. * | 40,081 | 907,434 |
Vericel Corp. * | 26,378 | 831,171 |
Verve Therapeutics, Inc. * (a) | 23,441 | 373,415 |
Viridian Therapeutics, Inc. * (a) | 22,507 | 630,871 |
Xencor, Inc. * | 33,508 | 885,952 |
Zentalis Pharmaceuticals, Inc. * | 24,576 | 541,409 |
52,107,102 | ||
Broadline Retail — 0.1% | ||
Big Lots, Inc. (a) | 16,198 | 145,620 |
ContextLogic, Inc., Class A * (a) | 10,400 | 74,984 |
Qurate Retail, Inc. * | 190,141 | 151,466 |
372,070 | ||
Building Products — 1.5% | ||
AAON, Inc. | 23,508 | 2,303,784 |
American Woodmark Corp. * | 9,311 | 470,392 |
Apogee Enterprises, Inc. | 12,439 | 529,404 |
AZZ, Inc. | 13,882 | 523,768 |
Gibraltar Industries, Inc. * | 17,313 | 866,343 |
Griffon Corp. | 26,496 | 753,811 |
Janus International Group, Inc. * | 44,243 | 398,187 |
JELD-WEN Holding, Inc. * | 47,155 | 602,641 |
Masonite International Corp. * (a) | 12,470 | 1,139,883 |
PGT Innovations, Inc. * | 33,544 | 860,739 |
Quanex Building Products Corp. | 18,552 | 354,343 |
INVESTMENTS | SHARES | VALUE($) |
Building Products — continued | ||
Resideo Technologies, Inc. * | 81,503 | 1,450,753 |
Tecnoglass, Inc. | 11,172 | 489,892 |
10,743,940 | ||
Capital Markets — 2.4% | ||
AssetMark Financial Holdings, Inc. * | 11,936 | 366,197 |
Avantax, Inc. * | 22,228 | 563,924 |
B. Riley Financial, Inc. (a) | 8,944 | 281,736 |
BGC Partners, Inc., Class A | 181,268 | 821,144 |
Brightsphere Investment Group, Inc. | 18,038 | 407,298 |
Cohen & Steers, Inc. | 13,856 | 832,191 |
Donnelley Financial Solutions, Inc. * | 14,013 | 606,062 |
Focus Financial Partners, Inc., Class A * | 32,417 | 1,683,739 |
Freedom Holding Corp. (Kazakhstan) * (a) | 9,335 | 713,474 |
Hamilton Lane, Inc., Class A | 19,903 | 1,466,453 |
Moelis & Co., Class A | 35,747 | 1,354,096 |
Open Lending Corp., Class A * | 58,620 | 412,099 |
Piper Sandler Cos. | 7,685 | 1,040,856 |
PJT Partners, Inc., Class A | 13,647 | 938,504 |
StepStone Group, Inc., Class A | 27,360 | 602,741 |
StoneX Group, Inc. * | 9,831 | 964,126 |
TPG, Inc. (a) | 28,540 | 826,804 |
Victory Capital Holdings, Inc., Class A | 15,074 | 460,360 |
Virtu Financial, Inc., Class A | 51,892 | 1,040,435 |
Virtus Investment Partners, Inc. | 3,784 | 689,483 |
WisdomTree, Inc. (a) | 62,271 | 388,571 |
16,460,293 | ||
Chemicals — 1.7% | ||
AdvanSix, Inc. | 15,386 | 579,744 |
Amyris, Inc. * (a) | 144,270 | 117,955 |
Aspen Aerogels, Inc. * | 31,030 | 194,248 |
Ecovyst, Inc. * | 37,149 | 421,641 |
HB Fuller Co. | 30,009 | 1,985,696 |
Innospec, Inc. | 13,819 | 1,404,425 |
Kronos Worldwide, Inc. | 12,156 | 113,051 |
LSB Industries, Inc. * | 28,408 | 253,683 |
Mativ Holdings, Inc. | 30,679 | 594,252 |
Minerals Technologies, Inc. | 18,103 | 1,072,784 |
Perimeter Solutions SA * (a) | 82,603 | 617,870 |
PureCycle Technologies, Inc. * (a) | 74,028 | 486,364 |
Quaker Chemical Corp. | 7,585 | 1,415,589 |
Stepan Co. | 11,772 | 1,085,378 |
110 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Chemicals — continued | ||
Trinseo plc | 19,534 | 353,956 |
Tronox Holdings plc | 63,911 | 874,942 |
11,571,578 | ||
Commercial Services & Supplies — 1.8% | ||
ABM Industries, Inc. | 36,921 | 1,572,096 |
ACV Auctions, Inc., Class A * (a) | 65,754 | 856,775 |
Aurora Innovation, Inc. * (a) | 206,929 | 295,909 |
Brady Corp., Class A | 25,812 | 1,317,186 |
BrightView Holdings, Inc. * | 21,440 | 118,563 |
Cimpress plc (Ireland) * (a) | 11,004 | 571,658 |
CoreCivic, Inc. * | 64,246 | 564,722 |
Deluxe Corp. | 24,116 | 365,358 |
GEO Group, Inc. (The) * (a) | 69,383 | 522,454 |
Healthcare Services Group, Inc. | 41,420 | 646,566 |
HNI Corp. | 23,118 | 600,606 |
Interface, Inc. | 32,519 | 254,949 |
KAR Auction Services, Inc. * (a) | 60,878 | 824,288 |
Matthews International Corp., Class A | 16,978 | 642,957 |
MillerKnoll, Inc. | 42,219 | 718,145 |
Montrose Environmental Group, Inc. * | 15,272 | 465,185 |
Pitney Bowes, Inc. | 90,434 | 317,423 |
SP Plus Corp. * | 11,242 | 384,139 |
Steelcase, Inc., Class A | 51,687 | 413,496 |
UniFirst Corp. | 8,434 | 1,380,477 |
12,832,952 | ||
Communications Equipment — 0.8% | ||
ADTRAN Holdings, Inc. | 39,484 | 360,094 |
Clearfield, Inc. * | 7,032 | 307,158 |
CommScope Holding Co., Inc. * | 116,470 | 574,197 |
Digi International, Inc. * | 19,976 | 602,476 |
Extreme Networks, Inc. * | 72,172 | 1,283,218 |
Harmonic, Inc. * | 61,415 | 865,338 |
Infinera Corp. * (a) | 106,825 | 676,202 |
NETGEAR, Inc. * | 16,168 | 228,454 |
NetScout Systems, Inc. * | 37,696 | 1,025,708 |
5,922,845 | ||
Construction & Engineering — 1.1% | ||
Ameresco, Inc., Class A * | 18,950 | 788,320 |
Arcosa, Inc. | 26,997 | 1,823,377 |
Construction Partners, Inc., Class A * | 23,120 | 599,733 |
Dycom Industries, Inc. * | 16,491 | 1,527,397 |
Granite Construction, Inc. | 24,472 | 933,117 |
INVESTMENTS | SHARES | VALUE($) |
Construction & Engineering — continued | ||
MYR Group, Inc. * | 9,300 | 1,190,307 |
Primoris Services Corp. | 29,651 | 750,170 |
7,612,421 | ||
Construction Materials — 0.3% | ||
Summit Materials, Inc., Class A * | 66,181 | 1,814,021 |
Consumer Finance — 0.9% | ||
Encore Capital Group, Inc. * | 13,078 | 671,948 |
Enova International, Inc. * | 17,434 | 765,701 |
Green Dot Corp., Class A * | 26,164 | 449,759 |
LendingClub Corp. * | 59,539 | 427,490 |
Navient Corp. | 56,681 | 937,504 |
Nelnet, Inc., Class A | 10,039 | 966,756 |
PRA Group, Inc. * | 21,754 | 789,018 |
PROG Holdings, Inc. * | 27,949 | 844,898 |
World Acceptance Corp. * | 1,898 | 191,508 |
6,044,582 | ||
Consumer Staples Distribution & Retail — 0.8% | ||
Andersons, Inc. (The) | 17,390 | 777,333 |
Chefs' Warehouse, Inc. (The) * | 19,021 | 632,638 |
Grocery Outlet Holding Corp. * | 49,465 | 1,473,068 |
Ingles Markets, Inc., Class A | 8,021 | 738,253 |
SpartanNash Co. | 19,746 | 484,172 |
United Natural Foods, Inc. * | 33,463 | 912,536 |
Weis Markets, Inc. | 9,141 | 754,041 |
5,772,041 | ||
Containers & Packaging — 0.6% | ||
Greif, Inc., Class A | 14,296 | 897,646 |
Myers Industries, Inc. | 20,410 | 386,770 |
O-I Glass, Inc. * | 86,258 | 1,938,217 |
Pactiv Evergreen, Inc. | 21,888 | 172,915 |
TriMas Corp. | 23,478 | 596,576 |
3,992,124 | ||
Diversified Consumer Services — 1.1% | ||
2U, Inc. * | 44,195 | 244,840 |
Adtalem Global Education, Inc. * | 25,380 | 1,029,667 |
Duolingo, Inc. * | 14,163 | 1,928,434 |
European Wax Center, Inc., Class A * (a) | 16,203 | 305,265 |
Laureate Education, Inc., Class A | 75,286 | 932,794 |
OneSpaWorld Holdings Ltd. (Bahamas) * | 33,133 | 397,596 |
Rover Group, Inc. * | 54,457 | 246,690 |
Strategic Education, Inc. (a) | 12,459 | 1,096,392 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 111 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Diversified Consumer Services — continued | ||
Stride, Inc. * | 22,918 | 984,557 |
Udemy, Inc. * | 36,323 | 330,176 |
7,496,411 | ||
Diversified REITs — 0.6% | ||
Alexander & Baldwin, Inc. | 40,512 | 779,046 |
American Assets Trust, Inc. | 29,214 | 531,695 |
Empire State Realty Trust, Inc., Class A (a) | 73,528 | 449,256 |
Essential Properties Realty Trust, Inc. | 79,610 | 1,970,347 |
Global Net Lease, Inc. | 57,984 | 652,900 |
4,383,244 | ||
Diversified Telecommunication Services — 0.4% | ||
Cogent Communications Holdings, Inc. | 23,852 | 1,646,742 |
EchoStar Corp., Class A * | 19,829 | 338,481 |
Liberty Latin America Ltd., Class A (Puerto Rico) * | 20,910 | 185,472 |
Liberty Latin America Ltd., Class C (Puerto Rico) * | 81,418 | 722,992 |
2,893,687 | ||
Electric Utilities — 0.5% | ||
MGE Energy, Inc. | 20,181 | 1,546,066 |
Otter Tail Corp. | 23,249 | 1,672,766 |
3,218,832 | ||
Electrical Equipment — 1.2% | ||
Amprius Technologies, Inc. * | 6,966 | 65,341 |
Array Technologies, Inc. * | 78,229 | 1,599,783 |
Blink Charging Co. * (a) | 26,767 | 190,849 |
Encore Wire Corp. | 10,219 | 1,597,536 |
Enovix Corp. * (a) | 61,465 | 665,051 |
ESS Tech, Inc. * (a) | 30,591 | 32,732 |
FREYR Battery SA (Norway) * (a) | 57,781 | 408,512 |
FuelCell Energy, Inc. * (a) | 226,785 | 426,356 |
GrafTech International Ltd. | 107,577 | 506,688 |
SES AI Corp. * (a) | 80,369 | 131,001 |
Shoals Technologies Group, Inc., Class A * | 89,674 | 1,873,290 |
Stem, Inc. * (a) | 81,197 | 343,463 |
Vicor Corp. * | 12,477 | 536,137 |
8,376,739 | ||
Electronic Equipment, Instruments & Components — 2.9% | ||
908 Devices, Inc. * (a) | 12,211 | 82,546 |
Advanced Energy Industries, Inc. | 20,908 | 1,808,542 |
Badger Meter, Inc. | 16,350 | 2,163,595 |
Benchmark Electronics, Inc. | 19,633 | 419,165 |
INVESTMENTS | SHARES | VALUE($) |
Electronic Equipment, Instruments & Components — continued | ||
CTS Corp. | 17,823 | 698,840 |
ePlus, Inc. * | 15,063 | 655,843 |
FARO Technologies, Inc. * | 10,498 | 245,128 |
Insight Enterprises, Inc. * | 16,921 | 2,046,595 |
Itron, Inc. * | 25,246 | 1,348,136 |
Knowles Corp. * | 50,987 | 860,661 |
Lightwave Logic, Inc. * (a) | 63,062 | 283,779 |
Methode Electronics, Inc. | 20,146 | 825,785 |
MicroVision, Inc. * (a) | 92,821 | 185,642 |
Mirion Technologies, Inc. * (a) | 68,234 | 552,695 |
Napco Security Technologies, Inc. * | 16,232 | 503,192 |
OSI Systems, Inc. * | 8,781 | 991,902 |
PAR Technology Corp. * (a) | 15,250 | 466,497 |
PC Connection, Inc. | 6,316 | 254,345 |
Plexus Corp. * | 15,452 | 1,351,586 |
Sanmina Corp. * | 32,611 | 1,704,251 |
ScanSource, Inc. * | 14,170 | 387,550 |
SmartRent, Inc. * (a) | 68,743 | 177,357 |
TTM Technologies, Inc. * | 57,141 | 674,835 |
Vishay Intertechnology, Inc. | 72,426 | 1,541,950 |
20,230,417 | ||
Energy Equipment & Services — 2.4% | ||
Archrock, Inc. | 74,772 | 769,404 |
Cactus, Inc., Class A | 35,736 | 1,446,593 |
Core Laboratories NV | 26,089 | 587,263 |
Diamond Offshore Drilling, Inc. * | 56,742 | 651,966 |
Dril-Quip, Inc. * | 18,952 | 517,011 |
Helix Energy Solutions Group, Inc. * | 79,774 | 578,362 |
Liberty Energy, Inc. | 83,649 | 1,071,544 |
Nabors Industries Ltd. * | 5,050 | 503,687 |
NexTier Oilfield Solutions, Inc. * | 89,212 | 720,833 |
Oceaneering International, Inc. * | 56,058 | 993,908 |
Patterson-UTI Energy, Inc. | 121,205 | 1,356,284 |
ProFrac Holding Corp., Class A * (a) | 18,066 | 202,339 |
ProPetro Holding Corp. * | 53,757 | 373,074 |
RPC, Inc. | 46,537 | 343,908 |
Tidewater, Inc. * | 28,240 | 1,271,647 |
Transocean Ltd. * (a) | 371,219 | 2,190,192 |
US Silica Holdings, Inc. * | 42,344 | 552,589 |
Weatherford International plc * | 36,079 | 2,331,786 |
16,462,390 | ||
Entertainment — 0.8% | ||
Cinemark Holdings, Inc. * (a) | 59,901 | 1,011,129 |
112 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Entertainment — continued | ||
IMAX Corp. * | 25,938 | 543,401 |
Liberty Media Corp.-Liberty Braves, Class A * | 5,739 | 224,797 |
Liberty Media Corp.-Liberty Braves, Class C * | 20,655 | 785,303 |
Sphere Entertainment Co. * | 14,702 | 413,714 |
Vivid Seats, Inc., Class A * (a) | 13,099 | 94,051 |
World Wrestling Entertainment, Inc., Class A (a) | 24,219 | 2,595,550 |
5,667,945 | ||
Financial Services — 2.4% | ||
AvidXchange Holdings, Inc. * | 74,432 | 553,030 |
Cannae Holdings, Inc. * | 40,541 | 739,468 |
Compass Diversified Holdings | 34,701 | 661,401 |
EVERTEC, Inc. (Puerto Rico) | 36,418 | 1,263,340 |
Federal Agricultural Mortgage Corp., Class C | 5,190 | 691,775 |
International Money Express, Inc. * | 18,430 | 475,125 |
Jackson Financial, Inc., Class A | 32,969 | 1,187,214 |
Marqeta, Inc., Class A * | 246,633 | 998,864 |
Merchants Bancorp | 14,213 | 329,742 |
MoneyGram International, Inc. * (a) | 53,884 | 547,461 |
Mr. Cooper Group, Inc. * | 38,750 | 1,794,125 |
NMI Holdings, Inc., Class A * | 46,719 | 1,093,225 |
Payoneer Global, Inc. * | 111,540 | 609,008 |
PennyMac Financial Services, Inc. | 16,769 | 1,047,895 |
Remitly Global, Inc. * | 54,403 | 913,970 |
Repay Holdings Corp. * | 42,043 | 263,610 |
Rocket Cos., Inc., Class A * (a) | 68,092 | 606,700 |
Shift4 Payments, Inc., Class A * (a) | 29,600 | 2,005,992 |
Walker & Dunlop, Inc. | 17,181 | 1,156,453 |
16,938,398 | ||
Food Products — 1.7% | ||
B&G Foods, Inc. (a) | 40,040 | 642,242 |
Benson Hill, Inc. * (a) | 71,023 | 75,284 |
Beyond Meat, Inc. * (a) | 33,817 | 457,882 |
Calavo Growers, Inc. | 9,877 | 315,669 |
Cal-Maine Foods, Inc. | 21,187 | 1,006,382 |
Fresh Del Monte Produce, Inc. | 17,142 | 492,147 |
Hain Celestial Group, Inc. (The) * | 49,967 | 895,908 |
Hostess Brands, Inc. * | 74,802 | 1,926,900 |
J & J Snack Foods Corp. | 8,386 | 1,284,735 |
Mission Produce, Inc. * | 22,523 | 256,537 |
Simply Good Foods Co. (The) * | 47,267 | 1,719,101 |
Sovos Brands, Inc. * | 21,455 | 367,953 |
Tootsie Roll Industries, Inc. | 10,179 | 416,118 |
TreeHouse Foods, Inc. * | 28,230 | 1,503,247 |
INVESTMENTS | SHARES | VALUE($) |
Food Products — continued | ||
Utz Brands, Inc. | 37,069 | 700,975 |
VZS Enterprises, Inc. ‡ * | 2,112 | — |
12,061,080 | ||
Gas Utilities — 0.3% | ||
Chesapeake Utilities Corp. | 9,924 | 1,225,614 |
Northwest Natural Holding Co. | 19,595 | 920,181 |
2,145,795 | ||
Ground Transportation — 0.6% | ||
ArcBest Corp. | 13,556 | 1,279,686 |
Heartland Express, Inc. | 26,073 | 377,537 |
Marten Transport Ltd. | 32,171 | 649,533 |
Schneider National, Inc., Class B | 20,677 | 541,117 |
TuSimple Holdings, Inc., Class A * (a) | 75,978 | 91,933 |
Universal Logistics Holdings, Inc. | 3,765 | 96,384 |
Werner Enterprises, Inc. | 32,891 | 1,485,687 |
4,521,877 | ||
Health Care Equipment & Supplies — 3.3% | ||
Alphatec Holdings, Inc. * | 39,348 | 568,185 |
AtriCure, Inc. * | 25,962 | 1,142,068 |
Atrion Corp. | 753 | 463,321 |
Avanos Medical, Inc. * | 25,958 | 766,799 |
Axonics, Inc. * | 27,703 | 1,591,814 |
Butterfly Network, Inc. * (a) | 80,273 | 173,390 |
CONMED Corp. (a) | 17,009 | 2,135,820 |
Cue Health, Inc. * (a) | 53,085 | 41,773 |
Embecta Corp. | 31,983 | 887,528 |
Establishment Labs Holdings, Inc. (Costa Rica) * | 12,409 | 864,783 |
Figs, Inc., Class A * | 71,107 | 511,970 |
Glaukos Corp. * (a) | 26,678 | 1,267,472 |
Heska Corp. * | 5,699 | 667,695 |
Inogen, Inc. * | 12,786 | 170,182 |
Integer Holdings Corp. * | 18,501 | 1,523,557 |
iRhythm Technologies, Inc. * | 16,827 | 2,211,068 |
Mesa Laboratories, Inc. | 2,786 | 463,897 |
Neogen Corp. * | 120,812 | 2,080,383 |
Nevro Corp. * | 19,822 | 580,190 |
Outset Medical, Inc. * | 26,974 | 485,262 |
Paragon 28, Inc. * | 14,324 | 263,848 |
PROCEPT BioRobotics Corp. * (a) | 18,263 | 555,013 |
Pulmonx Corp. * | 20,921 | 245,822 |
Senseonics Holdings, Inc. * (a) | 267,313 | 159,078 |
Silk Road Medical, Inc. * | 21,336 | 939,211 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 113 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Health Care Equipment & Supplies — continued | ||
TransMedics Group, Inc. * | 17,845 | 1,411,539 |
Treace Medical Concepts, Inc. * | 19,428 | 475,792 |
Varex Imaging Corp. * | 22,434 | 397,979 |
23,045,439 | ||
Health Care Providers & Services — 1.9% | ||
23andMe Holding Co. * (a) | 161,370 | 317,899 |
AdaptHealth Corp. * | 42,942 | 510,151 |
Addus HomeCare Corp. * | 8,995 | 735,251 |
Agiliti, Inc. * | 18,601 | 311,009 |
Alignment Healthcare, Inc. * | 46,073 | 289,799 |
Brookdale Senior Living, Inc. * | 104,424 | 447,979 |
Cano Health, Inc. * (a) | 101,853 | 118,149 |
Castle Biosciences, Inc. * | 13,822 | 312,792 |
Clover Health Investments Corp. * (a) | 181,052 | 133,725 |
CorVel Corp. * | 5,104 | 1,031,161 |
Cross Country Healthcare, Inc. * | 19,822 | 435,688 |
DocGo, Inc. * (a) | 45,677 | 388,254 |
Fulgent Genetics, Inc. * (a) | 11,025 | 326,009 |
Hims & Hers Health, Inc. * | 67,944 | 787,471 |
Invitae Corp. * (a) | 127,617 | 173,559 |
ModivCare, Inc. * | 7,077 | 450,097 |
National HealthCare Corp. | 7,523 | 435,657 |
National Research Corp. | 7,868 | 342,494 |
NeoGenomics, Inc. * | 70,567 | 1,031,690 |
OPKO Health, Inc. * (a) | 228,906 | 336,492 |
Owens & Minor, Inc. * | 42,601 | 662,020 |
Pediatrix Medical Group, Inc. * | 45,779 | 656,013 |
RadNet, Inc. * | 27,259 | 753,984 |
Select Medical Holdings Corp. | 58,212 | 1,775,466 |
US Physical Therapy, Inc. (a) | 7,278 | 774,816 |
13,537,625 | ||
Health Care REITs — 0.6% | ||
CareTrust REIT, Inc. | 55,626 | 1,084,151 |
LTC Properties, Inc. | 22,632 | 757,040 |
Physicians Realty Trust | 127,587 | 1,839,805 |
Universal Health Realty Income Trust | 7,064 | 307,284 |
3,988,280 | ||
Health Care Technology — 1.0% | ||
American Well Corp., Class A * | 135,518 | 296,784 |
Definitive Healthcare Corp. * | 21,127 | 226,059 |
Evolent Health, Inc., Class A * | 50,653 | 1,844,276 |
GoodRx Holdings, Inc., Class A * | 41,950 | 195,907 |
Health Catalyst, Inc. * | 30,585 | 385,371 |
INVESTMENTS | SHARES | VALUE($) |
Health Care Technology — continued | ||
HealthStream, Inc. | 13,519 | 333,108 |
NextGen Healthcare, Inc. * | 29,896 | 500,459 |
Phreesia, Inc. * | 29,473 | 932,526 |
Schrodinger, Inc. * | 29,849 | 881,142 |
Sharecare, Inc. * (a) | 177,859 | 273,903 |
Veradigm, Inc. * | 61,051 | 762,527 |
6,632,062 | ||
Hotel & Resort REITs — 0.4% | ||
DiamondRock Hospitality Co. | 117,037 | 949,170 |
Service Properties Trust | 92,471 | 810,971 |
Summit Hotel Properties, Inc. | 59,763 | 384,874 |
Xenia Hotels & Resorts, Inc. | 63,623 | 805,467 |
2,950,482 | ||
Hotels, Restaurants & Leisure — 2.2% | ||
Bally's Corp. * (a) | 15,310 | 263,332 |
BJ's Restaurants, Inc. * | 13,081 | 425,656 |
Bloomin' Brands, Inc. | 49,042 | 1,214,770 |
Bowlero Corp. * (a) | 19,020 | 278,263 |
Brinker International, Inc. * | 24,635 | 983,429 |
Cheesecake Factory, Inc. (The) (a) | 26,735 | 900,702 |
Dave & Buster's Entertainment, Inc. * (a) | 23,501 | 833,346 |
Denny's Corp. * | 31,995 | 358,664 |
Dine Brands Global, Inc. | 8,783 | 570,280 |
Dutch Bros, Inc., Class A * (a) | 16,513 | 514,380 |
Everi Holdings, Inc. * | 49,992 | 759,878 |
Golden Entertainment, Inc. * | 12,245 | 516,249 |
Jack in the Box, Inc. | 11,518 | 1,067,603 |
Krispy Kreme, Inc. (a) | 37,416 | 575,458 |
Monarch Casino & Resort, Inc. | 7,411 | 514,027 |
Papa John's International, Inc. | 17,955 | 1,342,854 |
Portillo's, Inc., Class A * | 24,157 | 522,274 |
Red Rock Resorts, Inc., Class A | 27,337 | 1,334,046 |
Sabre Corp. * | 183,566 | 734,264 |
Shake Shack, Inc., Class A * | 20,876 | 1,144,214 |
Sonder Holdings, Inc. * (a) | 78,715 | 32,281 |
Sweetgreen, Inc., Class A * | 41,902 | 332,702 |
Target Hospitality Corp. * (a) | 13,598 | 171,471 |
Vacasa, Inc., Class A * (a) | 46,834 | 37,308 |
15,427,451 | ||
Household Durables — 3.3% | ||
Cavco Industries, Inc. * | 4,545 | 1,364,500 |
Century Communities, Inc. | 15,799 | 1,063,905 |
GoPro, Inc., Class A * | 71,983 | 308,087 |
114 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Household Durables — continued | ||
Green Brick Partners, Inc. * | 15,188 | 566,057 |
Installed Building Products, Inc. | 13,112 | 1,629,428 |
iRobot Corp. * (a) | 15,221 | 598,642 |
KB Home | 45,632 | 1,999,594 |
La-Z-Boy, Inc. | 24,116 | 692,853 |
LGI Homes, Inc. * | 11,468 | 1,362,398 |
M/I Homes, Inc. * | 15,318 | 1,036,110 |
MDC Holdings, Inc. | 32,469 | 1,330,255 |
Meritage Homes Corp. | 20,446 | 2,618,110 |
Skyline Champion Corp. * | 29,623 | 2,197,138 |
Snap One Holdings Corp. * (a) | 9,638 | 94,067 |
Sonos, Inc. * (a) | 71,209 | 1,505,358 |
Taylor Morrison Home Corp. * | 60,538 | 2,608,582 |
Tri Pointe Homes, Inc. * | 56,378 | 1,616,921 |
Vizio Holding Corp., Class A * (a) | 31,554 | 270,418 |
22,862,423 | ||
Household Products — 0.4% | ||
Central Garden & Pet Co. * | 5,366 | 197,683 |
Central Garden & Pet Co., Class A * | 23,036 | 813,862 |
WD-40 Co. (a) | 7,565 | 1,440,376 |
2,451,921 | ||
Independent Power and Renewable Electricity Producers — 0.0% ^ | ||
Altus Power, Inc. * (a) | 20,435 | 92,775 |
Montauk Renewables, Inc. * (a) | 35,300 | 234,745 |
327,520 | ||
Industrial REITs — 0.2% | ||
LXP Industrial Trust | 154,147 | 1,448,982 |
Insurance — 1.8% | ||
American Equity Investment Life Holding Co. | 38,808 | 1,495,660 |
AMERISAFE, Inc. | 10,682 | 594,453 |
Argo Group International Holdings Ltd. (a) | 19,848 | 583,730 |
Bright Health Group, Inc. * (a) | 143,388 | 23,042 |
BRP Group, Inc., Class A * | 34,310 | 864,269 |
Employers Holdings, Inc. | 15,205 | 601,966 |
Genworth Financial, Inc., Class A * | 276,879 | 1,608,667 |
Goosehead Insurance, Inc., Class A * | 11,787 | 677,752 |
Hagerty, Inc., Class A * (a) | 17,696 | 177,137 |
Horace Mann Educators Corp. | 22,828 | 714,060 |
James River Group Holdings Ltd. | 20,946 | 407,819 |
Lemonade, Inc. * (a) | 25,138 | 272,496 |
Mercury General Corp. | 14,837 | 451,193 |
Oscar Health, Inc., Class A * | 62,653 | 421,655 |
Palomar Holdings, Inc. * | 14,113 | 709,319 |
INVESTMENTS | SHARES | VALUE($) |
Insurance — continued | ||
ProAssurance Corp. | 30,134 | 541,207 |
Safety Insurance Group, Inc. | 8,258 | 603,577 |
SiriusPoint Ltd. (Bermuda) * | 47,453 | 412,367 |
Stewart Information Services Corp. | 15,172 | 631,914 |
Trupanion, Inc. * (a) | 19,625 | 689,034 |
12,481,317 | ||
Interactive Media & Services — 0.5% | ||
Cargurus, Inc. * | 52,376 | 861,061 |
Cars.com, Inc. * | 34,629 | 677,689 |
Eventbrite, Inc., Class A * | 45,285 | 329,222 |
fuboTV, Inc. * (a) | 108,510 | 123,701 |
MediaAlpha, Inc., Class A * | 12,974 | 96,008 |
Shutterstock, Inc. | 13,447 | 900,949 |
Vimeo, Inc. * | 87,768 | 288,757 |
ZipRecruiter, Inc., Class A * | 28,986 | 491,023 |
3,768,410 | ||
IT Services — 0.8% | ||
BigCommerce Holdings, Inc. * | 34,185 | 252,627 |
Fastly, Inc., Class A * | 62,553 | 924,533 |
Grid Dynamics Holdings, Inc. * | 28,944 | 314,621 |
Kyndryl Holdings, Inc. * | 114,449 | 1,654,933 |
Perficient, Inc. * | 19,364 | 1,257,111 |
Rackspace Technology, Inc. * (a) | 31,614 | 46,156 |
Squarespace, Inc., Class A * | 22,907 | 712,408 |
Unisys Corp. * | 37,679 | 120,950 |
5,283,339 | ||
Leisure Products — 0.5% | ||
Acushnet Holdings Corp. | 18,027 | 903,694 |
Latham Group, Inc. * | 23,464 | 56,548 |
Malibu Boats, Inc., Class A * | 11,459 | 650,298 |
Smith & Wesson Brands, Inc. | 25,663 | 308,469 |
Sturm Ruger & Co., Inc. | 9,887 | 569,096 |
Vista Outdoor, Inc. * | 31,612 | 761,849 |
3,249,954 | ||
Life Sciences Tools & Services — 0.6% | ||
AbCellera Biologics, Inc. (Canada) * (a) | 116,717 | 791,341 |
Adaptive Biotechnologies Corp. * | 61,536 | 439,367 |
BioLife Solutions, Inc. * | 19,096 | 335,326 |
CryoPort, Inc. * | 27,378 | 576,033 |
NanoString Technologies, Inc. * | 24,008 | 235,279 |
OmniAb, Inc. ‡ * | 2,112 | — |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 115 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Life Sciences Tools & Services — continued | ||
Pacific Biosciences of California, Inc. * | 127,925 | 1,356,005 |
SomaLogic, Inc. * | 85,970 | 240,716 |
3,974,067 | ||
Machinery — 4.7% | ||
3D Systems Corp. * | 73,337 | 671,767 |
Alamo Group, Inc. | 5,755 | 1,017,081 |
Albany International Corp., Class A | 17,376 | 1,584,865 |
Astec Industries, Inc. | 12,683 | 523,554 |
Barnes Group, Inc. | 28,276 | 1,188,440 |
Desktop Metal, Inc., Class A * (a) | 131,346 | 288,961 |
Energy Recovery, Inc. * | 31,324 | 705,730 |
Enerpac Tool Group Corp. | 31,868 | 757,184 |
EnPro Industries, Inc. | 11,618 | 1,095,229 |
Esab Corp. | 28,879 | 1,685,378 |
ESCO Technologies, Inc. | 14,393 | 1,346,753 |
Federal Signal Corp. | 33,922 | 1,742,912 |
Franklin Electric Co., Inc. | 21,720 | 1,943,288 |
Gorman-Rupp Co. (The) | 12,679 | 311,269 |
Greenbrier Cos., Inc. (The) (a) | 18,331 | 484,855 |
Helios Technologies, Inc. | 18,219 | 1,095,691 |
Hillenbrand, Inc. | 38,797 | 1,769,919 |
Hillman Solutions Corp. * (a) | 81,509 | 684,676 |
Hyzon Motors, Inc. * (a) | 48,208 | 40,090 |
John Bean Technologies Corp. | 17,813 | 1,936,451 |
Kadant, Inc. | 6,492 | 1,206,408 |
Lindsay Corp. | 6,171 | 745,087 |
Microvast Holdings, Inc. * (a) | 106,503 | 111,828 |
Mueller Industries, Inc. | 31,750 | 2,281,238 |
Mueller Water Products, Inc., Class A | 87,321 | 1,170,101 |
Omega Flex, Inc. (a) | 1,678 | 184,597 |
Proterra, Inc. * (a) | 108,389 | 126,815 |
Proto Labs, Inc. * | 15,166 | 436,326 |
SPX Technologies, Inc. * | 25,251 | 1,607,984 |
Standex International Corp. | 6,697 | 822,459 |
Tennant Co. | 10,407 | 795,303 |
Terex Corp. | 37,738 | 1,682,737 |
Velo3D, Inc. * (a) | 34,150 | 79,911 |
Wabash National Corp. | 26,659 | 684,337 |
32,809,224 | ||
Marine Transportation — 0.2% | ||
Matson, Inc. | 21,103 | 1,435,637 |
Media — 0.7% | ||
Advantage Solutions, Inc. * | 51,472 | 65,884 |
INVESTMENTS | SHARES | VALUE($) |
Media — continued | ||
AMC Networks, Inc., Class A * | 15,679 | 277,361 |
Clear Channel Outdoor Holdings, Inc. * | 266,105 | 337,953 |
EW Scripps Co. (The), Class A * | 32,418 | 273,284 |
Gray Television, Inc. | 47,198 | 363,897 |
iHeartMedia, Inc., Class A * | 58,500 | 202,995 |
Integral Ad Science Holding Corp. * | 20,616 | 324,290 |
Magnite, Inc. * | 65,612 | 616,753 |
Scholastic Corp. | 16,509 | 635,101 |
Sinclair Broadcast Group, Inc., Class A (a) | 24,492 | 487,146 |
Stagwell, Inc. * | 57,046 | 354,826 |
TechTarget, Inc. * | 14,912 | 508,350 |
Thryv Holdings, Inc. * | 17,172 | 385,683 |
WideOpenWest, Inc. * | 28,905 | 330,384 |
5,163,907 | ||
Metals & Mining — 2.1% | ||
Alpha Metallurgical Resources, Inc. | 8,081 | 1,184,351 |
Arconic Corp. * | 56,723 | 1,403,894 |
ATI, Inc. * | 72,353 | 2,794,273 |
Carpenter Technology Corp. | 27,137 | 1,431,206 |
Century Aluminum Co. * | 28,563 | 245,356 |
Coeur Mining, Inc. * | 157,026 | 533,889 |
Compass Minerals International, Inc. | 19,047 | 623,408 |
Hecla Mining Co. | 314,299 | 1,901,509 |
Ivanhoe Electric, Inc. * (a) | 8,288 | 98,710 |
Kaiser Aluminum Corp. | 8,912 | 585,697 |
Materion Corp. | 11,484 | 1,243,832 |
Piedmont Lithium, Inc. * | 9,132 | 525,090 |
Ryerson Holding Corp. | 11,581 | 437,414 |
Schnitzer Steel Industries, Inc., Class A | 14,261 | 412,000 |
Warrior Met Coal, Inc. | 28,873 | 998,140 |
14,418,769 | ||
Mortgage Real Estate Investment Trusts (REITs) — 1.6% | ||
Apollo Commercial Real Estate Finance, Inc. (a) | 72,621 | 734,925 |
Arbor Realty Trust, Inc. (a) | 95,900 | 1,099,973 |
ARMOUR Residential REIT, Inc. (a) | 91,032 | 464,263 |
Brightspire Capital, Inc. | 72,066 | 410,776 |
Broadmark Realty Capital, Inc. | 74,264 | 364,636 |
Chimera Investment Corp. (a) | 129,558 | 735,889 |
Claros Mortgage Trust, Inc. (a) | 68,088 | 814,332 |
Franklin BSP Realty Trust, Inc. (a) | 46,115 | 582,432 |
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (a) | 49,684 | 1,410,032 |
KKR Real Estate Finance Trust, Inc. | 32,455 | 348,567 |
Ladder Capital Corp. | 62,940 | 588,489 |
116 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Mortgage Real Estate Investment Trusts (REITs) — continued | ||
MFA Financial, Inc. | 50,612 | 541,040 |
New York Mortgage Trust, Inc. (a) | 51,867 | 533,193 |
PennyMac Mortgage Investment Trust (a) | 49,728 | 618,119 |
Ready Capital Corp. (a) | 54,996 | 590,107 |
Redwood Trust, Inc. (a) | 63,445 | 398,435 |
TPG RE Finance Trust, Inc. | 34,174 | 243,661 |
Two Harbors Investment Corp. (a) | 53,980 | 751,941 |
11,230,810 | ||
Multi-Utilities — 0.3% | ||
NorthWestern Corp. | 32,263 | 1,891,257 |
Office REITs — 0.6% | ||
Brandywine Realty Trust | 95,922 | 376,973 |
Corporate Office Properties Trust | 62,860 | 1,438,865 |
Easterly Government Properties, Inc. (a) | 50,782 | 714,503 |
Hudson Pacific Properties, Inc. | 71,773 | 399,058 |
Office Properties Income Trust | 27,165 | 177,116 |
Paramount Group, Inc. | 92,120 | 398,880 |
Piedmont Office Realty Trust, Inc., Class A | 68,970 | 448,995 |
3,954,390 | ||
Oil, Gas & Consumable Fuels — 2.8% | ||
Arch Resources, Inc. | 10,091 | 1,233,625 |
California Resources Corp. | 41,053 | 1,662,646 |
Callon Petroleum Co. * | 28,554 | 946,280 |
Clean Energy Fuels Corp. * | 98,214 | 419,374 |
CONSOL Energy, Inc. | 18,271 | 1,084,201 |
Delek US Holdings, Inc. | 38,942 | 846,988 |
Earthstone Energy, Inc., Class A * | 21,186 | 287,282 |
Gevo, Inc. * (a) | 132,626 | 153,846 |
Green Plains, Inc. * | 33,134 | 1,132,189 |
Gulfport Energy Corp. * | 6,349 | 574,331 |
HighPeak Energy, Inc. (a) | 7,561 | 149,405 |
International Seaways, Inc. | 22,505 | 896,149 |
Kinetik Holdings, Inc. (a) | 12,233 | 376,776 |
Kosmos Energy Ltd. (Ghana) * | 254,801 | 1,630,726 |
NextDecade Corp. * (a) | 32,060 | 199,734 |
Northern Oil and Gas, Inc. (a) | 41,460 | 1,375,228 |
Par Pacific Holdings, Inc. * | 31,013 | 726,635 |
Peabody Energy Corp. * (a) | 65,145 | 1,564,783 |
Permian Resources Corp. | 130,599 | 1,364,760 |
Sitio Royalties Corp. | 1 | 25 |
Talos Energy, Inc. * | 36,432 | 496,568 |
Tellurian, Inc. * (a) | 294,065 | 417,572 |
Uranium Energy Corp. * (a) | 206,723 | 539,547 |
INVESTMENTS | SHARES | VALUE($) |
Oil, Gas & Consumable Fuels — continued | ||
Vital Energy, Inc. * | 9,405 | 437,615 |
W&T Offshore, Inc. * | 52,840 | 230,911 |
World Fuel Services Corp. | 34,615 | 818,299 |
19,565,495 | ||
Paper & Forest Products — 0.1% | ||
Mercer International, Inc. (Germany) | 22,562 | 219,528 |
Sylvamo Corp. | 17,858 | 818,254 |
1,037,782 | ||
Passenger Airlines — 0.5% | ||
Allegiant Travel Co. * | 8,764 | 910,667 |
Hawaiian Holdings, Inc. * | 28,754 | 239,521 |
SkyWest, Inc. * | 28,291 | 800,635 |
Spirit Airlines, Inc. | 60,984 | 1,042,826 |
Sun Country Airlines Holdings, Inc. * | 18,228 | 359,639 |
3,353,288 | ||
Personal Care Products — 1.1% | ||
Edgewell Personal Care Co. | 28,757 | 1,255,818 |
elf Beauty, Inc. * | 28,306 | 2,625,665 |
Inter Parfums, Inc. | 9,977 | 1,514,409 |
Medifast, Inc. | 6,124 | 561,265 |
Nu Skin Enterprises, Inc., Class A | 27,649 | 1,091,029 |
USANA Health Sciences, Inc. * | 6,236 | 413,883 |
7,462,069 | ||
Pharmaceuticals — 1.8% | ||
Aclaris Therapeutics, Inc. * | 28,722 | 255,339 |
Amphastar Pharmaceuticals, Inc. * | 21,063 | 753,424 |
Amylyx Pharmaceuticals, Inc. * | 22,199 | 630,452 |
Arvinas, Inc. * | 27,102 | 710,343 |
Axsome Therapeutics, Inc. * (a) | 19,142 | 1,369,227 |
Cassava Sciences, Inc. * (a) | 21,939 | 509,424 |
Corcept Therapeutics, Inc. * (a) | 50,246 | 1,132,042 |
DICE Therapeutics, Inc. * | 18,916 | 614,770 |
Harmony Biosciences Holdings, Inc. * | 16,606 | 535,377 |
Innoviva, Inc. * | 35,114 | 411,887 |
Ligand Pharmaceuticals, Inc. * | 8,965 | 684,478 |
Nektar Therapeutics * | 104,392 | 78,534 |
Pliant Therapeutics, Inc. * | 23,613 | 667,067 |
Reata Pharmaceuticals, Inc., Class A * (a) | 15,625 | 1,544,687 |
Revance Therapeutics, Inc. * | 46,014 | 1,464,626 |
Supernus Pharmaceuticals, Inc. * | 30,245 | 1,114,831 |
Third Harmonic Bio, Inc. * (a) | 6,303 | 28,553 |
12,505,061 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 117 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Professional Services — 1.7% | ||
CBIZ, Inc. * | 28,021 | 1,476,426 |
Conduent, Inc. * | 92,931 | 326,188 |
CSG Systems International, Inc. | 16,825 | 886,341 |
First Advantage Corp. * | 32,240 | 414,606 |
Forrester Research, Inc. * | 6,256 | 193,561 |
HireRight Holdings Corp. * | 10,570 | 112,042 |
Huron Consulting Group, Inc. * | 11,127 | 943,458 |
ICF International, Inc. | 9,476 | 1,080,264 |
Kelly Services, Inc., Class A | 19,346 | 317,468 |
Kforce, Inc. | 10,919 | 645,750 |
Korn Ferry | 29,455 | 1,414,429 |
Legalzoom.com, Inc. * | 52,732 | 494,626 |
NV5 Global, Inc. * | 6,941 | 657,521 |
Planet Labs PBC * (a) | 108,024 | 440,738 |
Sterling Check Corp. * | 12,981 | 145,906 |
TaskUS, Inc., Class A (Philippines) * | 14,499 | 195,157 |
TrueBlue, Inc. * | 18,299 | 277,230 |
TTEC Holdings, Inc. | 10,550 | 359,438 |
Verra Mobility Corp. * | 77,884 | 1,320,134 |
11,701,283 | ||
Real Estate Management & Development — 0.6% | ||
Anywhere Real Estate, Inc. * (a) | 61,223 | 389,990 |
Compass, Inc., Class A * | 142,331 | 333,055 |
Forestar Group, Inc. * | 9,954 | 192,510 |
Kennedy-Wilson Holdings, Inc. | 65,486 | 1,098,855 |
Marcus & Millichap, Inc. | 13,836 | 435,419 |
Newmark Group, Inc., Class A | 68,977 | 437,314 |
Opendoor Technologies, Inc. * (a) | 283,583 | 391,345 |
Redfin Corp. * | 60,800 | 452,960 |
St. Joe Co. (The) | 18,911 | 777,242 |
4,508,690 | ||
Residential REITs — 0.5% | ||
Apartment Investment and Management Co., Class A | 84,727 | 663,412 |
Centerspace | 8,420 | 474,720 |
Elme Communities | 48,907 | 842,668 |
NexPoint Residential Trust, Inc. | 12,696 | 545,039 |
Veris Residential, Inc. * | 44,270 | 723,814 |
3,249,653 | ||
Retail REITs — 1.2% | ||
Acadia Realty Trust | 53,071 | 716,989 |
Alexander's, Inc. (a) | 1,180 | 219,563 |
CBL & Associates Properties, Inc. (a) | 13,695 | 316,765 |
INVESTMENTS | SHARES | VALUE($) |
Retail REITs — continued | ||
Getty Realty Corp. | 23,753 | 791,688 |
InvenTrust Properties Corp. | 37,703 | 850,203 |
Macerich Co. (The) | 120,300 | 1,201,797 |
Necessity Retail REIT, Inc. (The) | 75,032 | 413,426 |
Retail Opportunity Investments Corp. | 69,640 | 907,409 |
RPT Realty | 47,666 | 443,294 |
Saul Centers, Inc. | 7,210 | 259,776 |
Tanger Factory Outlet Centers, Inc. | 58,319 | 1,143,636 |
Urban Edge Properties | 65,641 | 962,953 |
Urstadt Biddle Properties, Inc., Class A | 16,203 | 279,016 |
8,506,515 | ||
Semiconductors & Semiconductor Equipment — 2.6% | ||
Axcelis Technologies, Inc. * | 18,327 | 2,168,084 |
Cohu, Inc. * | 26,642 | 901,565 |
Credo Technology Group Holding Ltd. * | 50,869 | 412,548 |
Diodes, Inc. * | 25,397 | 2,024,141 |
FormFactor, Inc. * | 43,053 | 1,175,777 |
Ichor Holdings Ltd. * | 16,150 | 449,777 |
Impinj, Inc. * (a) | 11,902 | 1,052,256 |
indie Semiconductor, Inc., Class A (China) * (a) | 38,451 | 291,074 |
Kulicke & Soffa Industries, Inc. (Singapore) | 31,663 | 1,509,059 |
MaxLinear, Inc. * | 40,486 | 976,927 |
Navitas Semiconductor Corp. * (a) | 43,721 | 233,033 |
Onto Innovation, Inc. * | 27,696 | 2,242,822 |
Photronics, Inc. * | 34,526 | 499,246 |
Rambus, Inc. * | 60,050 | 2,662,617 |
Ultra Clean Holdings, Inc. * | 25,402 | 724,973 |
Veeco Instruments, Inc. * | 28,761 | 529,778 |
17,853,677 | ||
Software — 4.9% | ||
8x8, Inc. * | 63,166 | 181,286 |
A10 Networks, Inc. | 35,839 | 506,763 |
Adeia, Inc. | 58,733 | 448,720 |
Agilysys, Inc. * | 11,119 | 867,727 |
Alarm.com Holdings, Inc. * | 27,889 | 1,330,026 |
Alkami Technology, Inc. * | 20,456 | 245,267 |
Altair Engineering, Inc., Class A * (a) | 29,302 | 2,023,303 |
Amplitude, Inc., Class A * | 29,947 | 339,898 |
Appfolio, Inc., Class A * | 10,604 | 1,480,531 |
Appian Corp., Class A * (a) | 22,964 | 862,298 |
AvePoint, Inc. * (a) | 49,014 | 212,721 |
Braze, Inc., Class A * (a) | 19,781 | 581,561 |
C3.ai, Inc., Class A * (a) | 47,740 | 850,727 |
118 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Software — continued | ||
Cerence, Inc. * | 22,496 | 574,773 |
Confluent, Inc., Class A * (a) | 85,950 | 1,890,900 |
Consensus Cloud Solutions, Inc. * | 9,878 | 368,746 |
CS Disco, Inc. * | 9,493 | 55,819 |
Digital Turbine, Inc. * | 50,450 | 591,779 |
Domo, Inc., Class B * | 17,465 | 277,344 |
E2open Parent Holdings, Inc. * | 96,278 | 605,589 |
Ebix, Inc. | 13,062 | 212,388 |
Enfusion, Inc., Class A * (a) | 7,296 | 61,140 |
Everbridge, Inc. * | 22,284 | 585,624 |
EverCommerce, Inc. * (a) | 16,136 | 194,762 |
Expensify, Inc., Class A * | 24,732 | 187,716 |
ForgeRock, Inc., Class A * (a) | 20,510 | 410,815 |
Freshworks, Inc., Class A * | 90,016 | 1,202,614 |
Gitlab, Inc., Class A * (a) | 35,174 | 1,067,883 |
HashiCorp, Inc., Class A * | 45,790 | 1,227,630 |
Instructure Holdings, Inc. * (a) | 9,545 | 253,229 |
Intapp, Inc. * | 8,533 | 344,051 |
InterDigital, Inc. (a) | 15,071 | 1,020,910 |
LivePerson, Inc. * | 39,185 | 181,427 |
LiveRamp Holdings, Inc. * | 36,179 | 871,552 |
Marathon Digital Holdings, Inc. * (a) | 62,033 | 624,672 |
Matterport, Inc. * (a) | 123,738 | 288,310 |
MeridianLink, Inc. * | 11,272 | 168,404 |
Model N, Inc. * | 18,973 | 584,368 |
Momentive Global, Inc. * (a) | 71,455 | 670,962 |
N-Able, Inc. * | 37,357 | 476,302 |
PagerDuty, Inc. * (a) | 45,755 | 1,375,395 |
Progress Software Corp. | 24,218 | 1,329,084 |
PROS Holdings, Inc. * | 22,976 | 651,829 |
Q2 Holdings, Inc. * | 32,134 | 791,139 |
Riot Platforms, Inc. * (a) | 93,504 | 1,118,308 |
Samsara, Inc., Class A * (a) | 63,415 | 1,144,641 |
SolarWinds Corp. * | 26,249 | 226,266 |
Sprinklr, Inc., Class A * | 34,580 | 413,577 |
Sumo Logic, Inc. * | 62,280 | 747,360 |
Telos Corp. * | 29,463 | 50,087 |
Zeta Global Holdings Corp., Class A * | 70,057 | 680,253 |
Zuora, Inc., Class A * | 70,174 | 546,655 |
34,005,131 | ||
Specialized REITs — 0.6% | ||
Four Corners Property Trust, Inc. | 46,869 | 1,195,628 |
Gladstone Land Corp. | 18,017 | 290,254 |
INVESTMENTS | SHARES | VALUE($) |
Specialized REITs — continued | ||
PotlatchDeltic Corp. (a) | 45,151 | 2,087,331 |
Safehold, Inc. | 22,447 | 622,231 |
4,195,444 | ||
Specialty Retail — 2.8% | ||
Abercrombie & Fitch Co., Class A * | 27,379 | 644,502 |
Academy Sports & Outdoors, Inc. | 43,667 | 2,773,728 |
Arko Corp. | 40,942 | 342,275 |
Asbury Automotive Group, Inc. * | 12,400 | 2,398,904 |
Boot Barn Holdings, Inc. * | 16,682 | 1,208,945 |
Buckle, Inc. (The) | 16,489 | 552,876 |
Caleres, Inc. | 19,913 | 454,016 |
Camping World Holdings, Inc., Class A | 22,398 | 501,491 |
Carvana Co. * (a) | 55,665 | 386,315 |
Children's Place, Inc. (The) * | 6,834 | 202,560 |
Designer Brands, Inc., Class A | 28,264 | 231,482 |
Franchise Group, Inc. (a) | 14,918 | 436,352 |
Group 1 Automotive, Inc. | 8,116 | 1,821,880 |
Guess?, Inc. (a) | 17,013 | 320,695 |
Monro, Inc. | 17,521 | 856,426 |
ODP Corp. (The) * | 22,539 | 973,910 |
Overstock.com, Inc. * | 25,586 | 520,931 |
Revolve Group, Inc. * | 22,747 | 469,726 |
Sally Beauty Holdings, Inc. * | 59,975 | 853,444 |
Signet Jewelers Ltd. (a) | 25,373 | 1,866,945 |
Sleep Number Corp. * (a) | 12,270 | 276,689 |
Sonic Automotive, Inc., Class A | 9,345 | 416,039 |
Upbound Group, Inc. | 27,983 | 746,027 |
Warby Parker, Inc., Class A * (a) | 34,833 | 366,791 |
19,622,949 | ||
Technology Hardware, Storage & Peripherals — 0.6% | ||
Avid Technology, Inc. * | 18,537 | 547,027 |
Corsair Gaming, Inc. * (a) | 22,490 | 391,776 |
IonQ, Inc. * (a) | 84,957 | 468,113 |
Super Micro Computer, Inc. * | 26,104 | 2,752,144 |
4,159,060 | ||
Textiles, Apparel & Luxury Goods — 0.8% | ||
G-III Apparel Group Ltd. * | 23,857 | 374,555 |
Kontoor Brands, Inc. | 27,622 | 1,247,685 |
Levi Strauss & Co., Class A (a) | 53,967 | 780,363 |
Oxford Industries, Inc. | 8,300 | 856,477 |
Steven Madden Ltd. | 40,925 | 1,434,012 |
Wolverine World Wide, Inc. | 44,031 | 737,079 |
5,430,171 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 119 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Tobacco — 0.2% | ||
Universal Corp. | 13,716 | 752,871 |
Vector Group Ltd. | 73,540 | 936,900 |
1,689,771 | ||
Trading Companies & Distributors — 1.6% | ||
Boise Cascade Co. | 22,050 | 1,506,236 |
Custom Truck One Source, Inc. * (a) | 34,482 | 216,547 |
Global Industrial Co. | 9,099 | 242,488 |
GMS, Inc. * | 23,245 | 1,349,605 |
H&E Equipment Services, Inc. | 18,878 | 689,047 |
McGrath RentCorp | 13,631 | 1,211,523 |
NOW, Inc. * | 61,758 | 658,958 |
Rush Enterprises, Inc., Class A | 23,664 | 1,256,795 |
Triton International Ltd. (Bermuda) | 32,902 | 2,720,008 |
Veritiv Corp. | 7,513 | 863,018 |
Xometry, Inc., Class A * (a) | 16,484 | 228,963 |
10,943,188 | ||
Water Utilities — 0.8% | ||
American States Water Co. | 20,637 | 1,831,534 |
California Water Service Group | 30,620 | 1,717,170 |
Middlesex Water Co. | 9,874 | 720,604 |
SJW Group | 14,887 | 1,130,221 |
5,399,529 | ||
Wireless Telecommunication Services — 0.3% | ||
Gogo, Inc. * | 36,274 | 486,434 |
Shenandoah Telecommunications Co. | 27,981 | 582,285 |
Telephone and Data Systems, Inc. | 55,773 | 557,730 |
United States Cellular Corp. * | 7,840 | 166,522 |
1,792,971 | ||
Total Common Stocks (Cost $756,300,377) | 686,512,787 | |
Short-Term Investments — 11.1% | ||
Investment Companies — 1.2% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (c) (d) (Cost $8,341,702) | 8,341,702 | 8,341,702 |
INVESTMENTS | SHARES | VALUE($) |
Investment of Cash Collateral from Securities Loaned — 9.9% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.01% (c) (d) | 60,987,307 | 60,993,406 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (c) (d) | 8,119,095 | 8,119,095 |
Total Investment of Cash Collateral from Securities Loaned (Cost $69,125,995) | 69,112,501 | |
Total Short-Term Investments (Cost $77,467,697) | 77,454,203 | |
Total Investments — 109.8% (Cost $833,768,074) | 763,966,990 | |
Liabilities in Excess of Other Assets — (9.8)% | (67,978,021 ) | |
NET ASSETS — 100.0% | 695,988,969 |
Percentages indicated are based on net assets. |
Abbreviations | |
REIT | Real Estate Investment Trust |
^ | Amount rounds to less than 0.1% of net assets. | |
‡ | Value determined using significant unobservable inputs. | |
* | Non-income producing security. | |
(a) | The security or a portion of this security is on loan at April 30, 2023. The total value of securities on loan at April 30, 2023 is $66,919,624. | |
(b) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. | |
(c) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(d) | The rate shown is the current yield as of April 30, 2023. |
120 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
Russell 2000 E-Mini Index | 103 | 06/16/2023 | USD | 9,139,190 | (45,284 ) |
Abbreviations | |
USD | United States Dollar |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 121 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 99.8% | ||
Aerospace & Defense — 0.2% | ||
L3Harris Technologies, Inc. | 222 | 43,323 |
Air Freight & Logistics — 0.3% | ||
CH Robinson Worldwide, Inc. | 136 | 13,718 |
Expeditors International of Washington, Inc. | 185 | 21,060 |
United Parcel Service, Inc., Class B | 196 | 35,243 |
70,021 | ||
Automobile Components — 0.2% | ||
Aptiv plc * | 316 | 32,504 |
Gentex Corp. | 276 | 7,615 |
40,119 | ||
Automobiles — 1.4% | ||
Ford Motor Co. | 139 | 1,651 |
Tesla, Inc. * | 1,864 | 306,274 |
307,925 | ||
Banks — 2.2% | ||
Bank of America Corp. | 6,103 | 178,696 |
Citigroup, Inc. | 2,262 | 106,472 |
Fifth Third Bancorp | 779 | 20,410 |
PNC Financial Services Group, Inc. (The) | 471 | 61,348 |
Wells Fargo & Co. | 3,427 | 136,223 |
503,149 | ||
Beverages — 2.0% | ||
Brown-Forman Corp., Class B | 267 | 17,379 |
Coca-Cola Co. (The) | 3,378 | 216,699 |
Constellation Brands, Inc., Class A | 178 | 40,846 |
Keurig Dr Pepper, Inc. | 1,000 | 32,700 |
Monster Beverage Corp. * | 854 | 47,824 |
PepsiCo, Inc. | 561 | 107,089 |
462,537 | ||
Biotechnology — 3.1% | ||
AbbVie, Inc. | 1,429 | 215,950 |
Alnylam Pharmaceuticals, Inc. * | 144 | 28,685 |
Amgen, Inc. | 163 | 39,078 |
Biogen, Inc. * | 130 | 39,550 |
Gilead Sciences, Inc. | 1,472 | 121,013 |
Incyte Corp. * | 213 | 15,849 |
Ionis Pharmaceuticals, Inc. * | 166 | 5,871 |
Regeneron Pharmaceuticals, Inc. * | 114 | 91,404 |
Seagen, Inc. * | 159 | 31,800 |
Vertex Pharmaceuticals, Inc. * | 301 | 102,560 |
691,760 |
INVESTMENTS | SHARES | VALUE($) |
Broadline Retail — 2.4% | ||
Amazon.com, Inc. * | 4,760 | 501,942 |
eBay, Inc. | 635 | 29,483 |
Etsy, Inc. * | 146 | 14,750 |
546,175 | ||
Building Products — 0.5% | ||
Carrier Global Corp. | 844 | 35,296 |
Hayward Holdings, Inc. * | 90 | 1,084 |
Lennox International, Inc. | 37 | 10,431 |
Masco Corp. | 261 | 13,966 |
Trane Technologies plc | 268 | 49,797 |
110,574 | ||
Capital Markets — 4.2% | ||
Ares Management Corp. | 164 | 14,365 |
Bank of New York Mellon Corp. (The) | 845 | 35,989 |
BlackRock, Inc. | 167 | 112,090 |
Blackstone, Inc. | 35 | 3,127 |
Carlyle Group, Inc. (The) | 179 | 5,429 |
Charles Schwab Corp. (The) | 1,349 | 70,472 |
CME Group, Inc. | 339 | 62,976 |
FactSet Research Systems, Inc. | 44 | 18,114 |
Goldman Sachs Group, Inc. (The) | 369 | 126,729 |
Invesco Ltd. | 379 | 6,492 |
Lazard Ltd., Class A | 47 | 1,471 |
LPL Financial Holdings, Inc. | 91 | 19,004 |
Moody's Corp. | 187 | 58,553 |
Morgan Stanley | 1,254 | 112,822 |
Morningstar, Inc. | 27 | 4,814 |
MSCI, Inc. | 91 | 43,903 |
Nasdaq, Inc. | 385 | 21,318 |
Northern Trust Corp. | 219 | 17,117 |
Robinhood Markets, Inc., Class A * | 657 | 5,815 |
S&P Global, Inc. | 377 | 136,693 |
State Street Corp. | 408 | 29,482 |
T. Rowe Price Group, Inc. | 257 | 28,869 |
Tradeweb Markets, Inc., Class A | 83 | 5,844 |
941,488 | ||
Chemicals — 1.4% | ||
Albemarle Corp. | 136 | 25,223 |
Ashland, Inc. | 63 | 6,401 |
Ecolab, Inc. | 363 | 60,926 |
Element Solutions, Inc. | 331 | 6,008 |
FMC Corp. | 185 | 22,862 |
Huntsman Corp. | 213 | 5,706 |
122 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Chemicals — continued | ||
International Flavors & Fragrances, Inc. | 373 | 36,166 |
Linde plc | 168 | 62,068 |
Mosaic Co. (The) | 397 | 17,011 |
Scotts Miracle-Gro Co. (The) | 55 | 3,675 |
Sherwin-Williams Co. (The) | 283 | 67,224 |
313,270 | ||
Commercial Services & Supplies — 0.6% | ||
Clean Harbors, Inc. * | 59 | 8,564 |
MSA Safety, Inc. | 41 | 5,320 |
Republic Services, Inc. | 240 | 34,709 |
Stericycle, Inc. * | 107 | 4,885 |
Waste Management, Inc. | 484 | 80,368 |
133,846 | ||
Communications Equipment — 1.3% | ||
Arista Networks, Inc. * | 287 | 45,966 |
Ciena Corp. * | 172 | 7,919 |
Cisco Systems, Inc. | 3,743 | 176,857 |
Juniper Networks, Inc. | 372 | 11,216 |
Lumentum Holdings, Inc. * | 26 | 1,254 |
Motorola Solutions, Inc. | 195 | 56,823 |
Viasat, Inc. * | 84 | 2,942 |
302,977 | ||
Consumer Finance — 0.8% | ||
American Express Co. | 698 | 112,615 |
Capital One Financial Corp. | 445 | 43,299 |
Synchrony Financial | 525 | 15,493 |
171,407 | ||
Consumer Staples Distribution & Retail — 0.7% | ||
Costco Wholesale Corp. | 171 | 86,051 |
Target Corp. | 7 | 1,104 |
Walmart, Inc. | 524 | 79,108 |
166,263 | ||
Containers & Packaging — 0.1% | ||
Avery Dennison Corp. | 95 | 16,576 |
Distributors — 0.1% | ||
LKQ Corp. | 291 | 16,799 |
Diversified Telecommunication Services — 0.7% | ||
AT&T, Inc. | 1,897 | 33,520 |
Verizon Communications, Inc. | 2,989 | 116,063 |
149,583 |
INVESTMENTS | SHARES | VALUE($) |
Electric Utilities — 1.5% | ||
Avangrid, Inc. | 92 | 3,704 |
Edison International | 551 | 40,554 |
Eversource Energy | 505 | 39,193 |
Exelon Corp. | 1,455 | 61,750 |
NextEra Energy, Inc. | 2,040 | 156,325 |
PG&E Corp. * | 2,411 | 41,252 |
342,778 | ||
Electrical Equipment — 0.6% | ||
AMETEK, Inc. | 269 | 37,103 |
Emerson Electric Co. | 666 | 55,451 |
Rockwell Automation, Inc. | 134 | 37,977 |
130,531 | ||
Electronic Equipment, Instruments & Components — 0.5% | ||
CDW Corp. | 158 | 26,795 |
Keysight Technologies, Inc. * | 209 | 30,230 |
Teledyne Technologies, Inc. * | 54 | 22,377 |
Trimble, Inc. * | 288 | 13,565 |
Zebra Technologies Corp., Class A * | 60 | 17,282 |
110,249 | ||
Energy Equipment & Services — 0.6% | ||
Halliburton Co. | 1,316 | 43,099 |
Schlumberger NV | 2,023 | 99,835 |
142,934 | ||
Entertainment — 2.3% | ||
Activision Blizzard, Inc. * | 918 | 71,338 |
Electronic Arts, Inc. | 320 | 40,730 |
Liberty Media Corp.-Liberty Formula One, Class C * | 257 | 18,553 |
Netflix, Inc. * | 467 | 154,077 |
Spotify Technology SA * | 164 | 21,910 |
Take-Two Interactive Software, Inc. * | 198 | 24,609 |
Walt Disney Co. (The) * | 1,720 | 176,300 |
507,517 | ||
Financial Services — 5.0% | ||
Apollo Global Management, Inc. | 461 | 29,223 |
Berkshire Hathaway, Inc., Class B * | 625 | 205,344 |
Block, Inc. * | 626 | 38,055 |
Fidelity National Information Services, Inc. | 693 | 40,693 |
Fiserv, Inc. * | 695 | 84,873 |
Global Payments, Inc. | 306 | 34,489 |
Jack Henry & Associates, Inc. | 85 | 13,884 |
Mastercard, Inc., Class A | 681 | 258,800 |
PayPal Holdings, Inc. * | 1,343 | 102,068 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 123 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Financial Services — continued | ||
Toast, Inc., Class A * | 317 | 5,769 |
Visa, Inc., Class A | 1,246 | 289,982 |
Voya Financial, Inc. | 113 | 8,642 |
Western Union Co. (The) | 441 | 4,820 |
WEX, Inc. * | 51 | 9,045 |
1,125,687 | ||
Food Products — 1.0% | ||
General Mills, Inc. | 156 | 13,826 |
Hershey Co. (The) | 170 | 46,420 |
J M Smucker Co. (The) | 121 | 18,684 |
McCormick & Co., Inc. (Non-Voting) | 293 | 25,740 |
Mondelez International, Inc., Class A | 1,603 | 122,982 |
227,652 | ||
Gas Utilities — 0.2% | ||
Atmos Energy Corp. | 208 | 23,741 |
National Fuel Gas Co. | 98 | 5,478 |
UGI Corp. | 307 | 10,401 |
39,620 | ||
Ground Transportation — 0.5% | ||
Lyft, Inc., Class A * | 382 | 3,916 |
Uber Technologies, Inc. * | 2,270 | 70,483 |
Union Pacific Corp. | 151 | 29,551 |
103,950 | ||
Health Care Equipment & Supplies — 1.5% | ||
Abbott Laboratories | 575 | 63,520 |
Boston Scientific Corp. * | 1,682 | 87,666 |
Edwards Lifesciences Corp. * | 716 | 62,994 |
IDEXX Laboratories, Inc. * | 96 | 47,247 |
Insulet Corp. * | 80 | 25,443 |
Intuitive Surgical, Inc. * | 20 | 6,025 |
Medtronic plc | 400 | 36,380 |
Stryker Corp. | 43 | 12,885 |
342,160 | ||
Health Care Providers & Services — 3.6% | ||
AmerisourceBergen Corp. | 191 | 31,868 |
Cigna Group (The) | 344 | 87,132 |
CVS Health Corp. | 1,505 | 110,332 |
Elevance Health, Inc. | 263 | 123,255 |
Humana, Inc. | 142 | 75,330 |
McKesson Corp. | 161 | 58,643 |
INVESTMENTS | SHARES | VALUE($) |
Health Care Providers & Services — continued | ||
Premier, Inc., Class A | 138 | 4,599 |
UnitedHealth Group, Inc. | 669 | 329,208 |
820,367 | ||
Health Care REITs — 0.1% | ||
Healthcare Realty Trust, Inc. | 445 | 8,802 |
Medical Properties Trust, Inc. | 696 | 6,104 |
Omega Healthcare Investors, Inc. | 275 | 7,359 |
22,265 | ||
Hotels, Restaurants & Leisure — 2.5% | ||
Booking Holdings, Inc. * | 46 | 123,570 |
Chipotle Mexican Grill, Inc. * | 32 | 66,164 |
DoorDash, Inc., Class A * | 292 | 17,867 |
Expedia Group, Inc. * | 177 | 16,631 |
McDonald's Corp. | 678 | 200,519 |
Planet Fitness, Inc., Class A * | 97 | 8,065 |
Starbucks Corp. | 629 | 71,888 |
Wendy's Co. (The) | 200 | 4,420 |
Yum! Brands, Inc. | 329 | 46,251 |
555,375 | ||
Household Durables — 0.1% | ||
PulteGroup, Inc. | 266 | 17,862 |
Household Products — 1.9% | ||
Church & Dwight Co., Inc. | 284 | 27,582 |
Clorox Co. (The) | 144 | 23,849 |
Colgate-Palmolive Co. | 979 | 78,124 |
Procter & Gamble Co. (The) | 1,859 | 290,711 |
420,266 | ||
Industrial Conglomerates — 0.6% | ||
General Electric Co. | 1,271 | 125,791 |
Industrial REITs — 0.6% | ||
Prologis, Inc. | 1,061 | 132,890 |
Rexford Industrial Realty, Inc. | 237 | 13,218 |
146,108 | ||
Insurance — 2.4% | ||
Aflac, Inc. | 719 | 50,222 |
Allstate Corp. (The) | 308 | 35,654 |
American International Group, Inc. | 867 | 45,986 |
Aon plc, Class A | 242 | 78,694 |
Arch Capital Group Ltd. * | 84 | 6,306 |
Assured Guaranty Ltd. | 67 | 3,609 |
Chubb Ltd. | 485 | 97,757 |
124 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Insurance — continued | ||
Hartford Financial Services Group, Inc. (The) | 370 | 26,266 |
Lincoln National Corp. | 193 | 4,194 |
Marsh & McLennan Cos., Inc. | 43 | 7,748 |
MetLife, Inc. | 785 | 48,144 |
Principal Financial Group, Inc. | 282 | 21,063 |
Progressive Corp. (The) | 45 | 6,138 |
Prudential Financial, Inc. | 429 | 37,323 |
RenaissanceRe Holdings Ltd. (Bermuda) | 50 | 10,770 |
Travelers Cos., Inc. (The) | 273 | 49,451 |
WR Berkley Corp. | 240 | 14,141 |
543,466 | ||
Interactive Media & Services — 4.2% | ||
Alphabet, Inc., Class A * | 6,156 | 660,784 |
Match Group, Inc. * | 326 | 12,029 |
Meta Platforms, Inc., Class A * | 1,075 | 258,344 |
Pinterest, Inc., Class A * | 696 | 16,008 |
947,165 | ||
IT Services — 1.3% | ||
Accenture plc, Class A | 616 | 172,659 |
Amdocs Ltd. | 140 | 12,775 |
Cloudflare, Inc., Class A * | 332 | 15,621 |
EPAM Systems, Inc. * | 64 | 18,076 |
Gartner, Inc. * | 90 | 27,221 |
Globant SA * | 48 | 7,530 |
International Business Machines Corp. | 192 | 24,271 |
Okta, Inc. * | 176 | 12,061 |
Twilio, Inc., Class A * | 204 | 10,732 |
300,946 | ||
Leisure Products — 0.1% | ||
Hasbro, Inc. | 154 | 9,120 |
Peloton Interactive, Inc., Class A * | 360 | 3,197 |
YETI Holdings, Inc. * | 114 | 4,497 |
16,814 | ||
Life Sciences Tools & Services — 2.2% | ||
Agilent Technologies, Inc. | 348 | 47,130 |
Danaher Corp. | 429 | 101,634 |
Illumina, Inc. * | 184 | 37,823 |
IQVIA Holdings, Inc. * | 217 | 40,846 |
Mettler-Toledo International, Inc. * | 26 | 38,779 |
PerkinElmer, Inc. | 125 | 16,311 |
Repligen Corp. * | 65 | 9,856 |
INVESTMENTS | SHARES | VALUE($) |
Life Sciences Tools & Services — continued | ||
Thermo Fisher Scientific, Inc. | 345 | 191,440 |
Waters Corp. * | 69 | 20,725 |
504,544 | ||
Machinery — 2.6% | ||
Caterpillar, Inc. | 567 | 124,060 |
Deere & Co. | 314 | 118,698 |
Dover Corp. | 167 | 24,409 |
Fortive Corp. | 414 | 26,119 |
Graco, Inc. | 197 | 15,620 |
IDEX Corp. | 89 | 18,362 |
Illinois Tool Works, Inc. | 360 | 87,098 |
Ingersoll Rand, Inc. | 473 | 26,970 |
Nordson Corp. | 67 | 14,493 |
Otis Worldwide Corp. | 486 | 41,456 |
PACCAR, Inc. | 597 | 44,590 |
Parker-Hannifin Corp. | 35 | 11,371 |
Xylem, Inc. | 209 | 21,703 |
574,949 | ||
Media — 0.6% | ||
Comcast Corp., Class A | 1,909 | 78,975 |
Fox Corp., Class A | 504 | 16,763 |
Interpublic Group of Cos., Inc. (The) | 452 | 16,150 |
Liberty Media Corp.-Liberty SiriusXM, Class C * | 268 | 7,488 |
Omnicom Group, Inc. | 237 | 21,465 |
140,841 | ||
Metals & Mining — 0.8% | ||
Freeport-McMoRan, Inc. | 1,680 | 63,689 |
Newmont Corp. | 931 | 44,130 |
Nucor Corp. | 296 | 43,861 |
Steel Dynamics, Inc. | 195 | 20,270 |
171,950 | ||
Mortgage Real Estate Investment Trusts (REITs) — 0.1% | ||
AGNC Investment Corp. | 667 | 6,610 |
Annaly Capital Management, Inc. | 558 | 11,149 |
17,759 | ||
Multi-Utilities — 0.7% | ||
CenterPoint Energy, Inc. | 734 | 22,365 |
Consolidated Edison, Inc. | 414 | 40,767 |
NiSource, Inc. | 100 | 2,846 |
Public Service Enterprise Group, Inc. | 582 | 36,782 |
Sempra Energy | 373 | 57,998 |
160,758 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 125 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Office REITs — 0.1% | ||
Alexandria Real Estate Equities, Inc. | 88 | 10,928 |
Kilroy Realty Corp. | 130 | 3,801 |
14,729 | ||
Oil, Gas & Consumable Fuels — 3.8% | ||
Antero Resources Corp. * | 416 | 9,564 |
Chevron Corp. | 1,202 | 202,633 |
ConocoPhillips | 1,318 | 135,609 |
Enviva, Inc. | 44 | 946 |
Exxon Mobil Corp. | 3,003 | 355,375 |
Hess Corp. | 412 | 59,765 |
New Fortress Energy, Inc. | 86 | 2,605 |
ONEOK, Inc. | 278 | 18,184 |
Targa Resources Corp. | 331 | 25,000 |
Williams Cos., Inc. (The) | 1,784 | 53,984 |
863,665 | ||
Personal Care Products — 0.3% | ||
Coty, Inc., Class A * | 411 | 4,879 |
Estee Lauder Cos., Inc. (The), Class A | 268 | 66,121 |
71,000 | ||
Pharmaceuticals — 4.2% | ||
Bristol-Myers Squibb Co. | 2,048 | 136,745 |
Eli Lilly & Co. | 670 | 265,226 |
Johnson & Johnson | 1,883 | 308,247 |
Merck & Co., Inc. | 1,203 | 138,911 |
Pfizer, Inc. | 2,247 | 87,386 |
Zoetis, Inc. | 18 | 3,164 |
939,679 | ||
Professional Services — 1.3% | ||
Automatic Data Processing, Inc. | 492 | 108,240 |
Booz Allen Hamilton Holding Corp. | 153 | 14,645 |
Clarivate plc * | 552 | 4,891 |
Equifax, Inc. | 142 | 29,590 |
FTI Consulting, Inc. * | 42 | 7,581 |
Genpact Ltd. | 211 | 9,400 |
ManpowerGroup, Inc. | 59 | 4,467 |
Paychex, Inc. | 377 | 41,417 |
Robert Half International, Inc. | 124 | 9,052 |
Science Applications International Corp. | 34 | 3,469 |
TransUnion | 225 | 15,482 |
Verisk Analytics, Inc. | 182 | 35,328 |
283,562 |
INVESTMENTS | SHARES | VALUE($) |
Real Estate Management & Development — 0.2% | ||
CBRE Group, Inc., Class A * | 368 | 28,211 |
Jones Lang LaSalle, Inc. * | 56 | 7,786 |
Zillow Group, Inc., Class C * | 249 | 10,842 |
46,839 | ||
Residential REITs — 0.6% | ||
American Homes 4 Rent, Class A | 360 | 11,974 |
AvalonBay Communities, Inc. | 163 | 29,400 |
Equity LifeStyle Properties, Inc. | 208 | 14,331 |
Equity Residential | 433 | 27,387 |
Essex Property Trust, Inc. | 76 | 16,700 |
Sun Communities, Inc. | 143 | 19,867 |
UDR, Inc. | 378 | 15,623 |
135,282 | ||
Retail REITs — 0.6% | ||
Brixmor Property Group, Inc. | 344 | 7,337 |
Federal Realty Investment Trust | 94 | 9,296 |
Kimco Realty Corp. | 704 | 13,510 |
National Retail Properties, Inc. | 208 | 9,048 |
Realty Income Corp. | 733 | 46,062 |
Regency Centers Corp. | 200 | 12,286 |
Simon Property Group, Inc. | 380 | 43,061 |
140,600 | ||
Semiconductors & Semiconductor Equipment — 5.2% | ||
Advanced Micro Devices, Inc. * | 1,742 | 155,683 |
Analog Devices, Inc. | 64 | 11,512 |
Applied Materials, Inc. | 989 | 111,787 |
Broadcom, Inc. | 163 | 102,120 |
Cirrus Logic, Inc. * | 66 | 5,662 |
Enphase Energy, Inc. * | 192 | 31,526 |
First Solar, Inc. * | 156 | 28,483 |
Intel Corp. | 741 | 23,016 |
KLA Corp. | 108 | 41,746 |
Lam Research Corp. | 80 | 41,926 |
Marvell Technology, Inc. | 995 | 39,283 |
Monolithic Power Systems, Inc. | 54 | 24,946 |
NVIDIA Corp. | 1,667 | 462,576 |
QUALCOMM, Inc. | 296 | 34,573 |
Texas Instruments, Inc. | 282 | 47,150 |
Universal Display Corp. | 51 | 6,806 |
1,168,795 | ||
Software — 11.3% | ||
Adobe, Inc. * | 455 | 171,790 |
126 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Software — continued | ||
ANSYS, Inc. * | 102 | 32,020 |
Atlassian Corp., Class A * | 174 | 25,693 |
Autodesk, Inc. * | 254 | 49,477 |
Bentley Systems, Inc., Class B | 197 | 8,384 |
Cadence Design Systems, Inc. * | 320 | 67,024 |
Confluent, Inc., Class A * | 162 | 3,564 |
Dolby Laboratories, Inc., Class A | 68 | 5,691 |
Fortinet, Inc. * | 754 | 47,540 |
Gen Digital, Inc. | 620 | 10,955 |
Guidewire Software, Inc. * | 96 | 7,314 |
Intuit, Inc. | 321 | 142,508 |
Microsoft Corp. | 4,225 | 1,298,173 |
New Relic, Inc. * | 62 | 4,431 |
Nutanix, Inc., Class A * | 269 | 6,451 |
Oracle Corp. | 1,592 | 150,794 |
Palo Alto Networks, Inc. * | 349 | 63,679 |
Salesforce, Inc. * | 788 | 156,316 |
ServiceNow, Inc. * | 238 | 109,342 |
Splunk, Inc. * | 190 | 16,386 |
Synopsys, Inc. * | 179 | 66,466 |
Tyler Technologies, Inc. * | 48 | 18,193 |
Unity Software, Inc. * | 271 | 7,309 |
VMware, Inc., Class A * | 205 | 25,631 |
Workday, Inc., Class A * | 208 | 38,717 |
2,533,848 | ||
Specialized REITs — 0.7% | ||
American Tower Corp. | 48 | 9,811 |
Crown Castle, Inc. | 511 | 62,899 |
CubeSmart | 261 | 11,873 |
Extra Space Storage, Inc. | 155 | 23,566 |
Life Storage, Inc. | 99 | 13,304 |
Rayonier, Inc. | 171 | 5,362 |
SBA Communications Corp. | 125 | 32,611 |
159,426 | ||
Specialty Retail — 2.5% | ||
AutoZone, Inc. * | 22 | 58,593 |
CarMax, Inc. * | 185 | 12,956 |
Floor & Decor Holdings, Inc., Class A * | 121 | 12,020 |
Home Depot, Inc. (The) | 823 | 247,344 |
Lithia Motors, Inc., Class A | 32 | 7,068 |
Lowe's Cos., Inc. | 137 | 28,473 |
Penske Automotive Group, Inc. | 30 | 4,157 |
Ross Stores, Inc. | 398 | 42,478 |
INVESTMENTS | SHARES | VALUE($) |
Specialty Retail — continued | ||
TJX Cos., Inc. (The) | 830 | 65,421 |
Tractor Supply Co. | 129 | 30,754 |
Ulta Beauty, Inc. * | 59 | 32,534 |
Valvoline, Inc. | 252 | 8,707 |
Williams-Sonoma, Inc. | 78 | 9,441 |
559,946 | ||
Technology Hardware, Storage & Peripherals — 7.0% | ||
Apple, Inc. | 9,255 | 1,570,388 |
Textiles, Apparel & Luxury Goods — 1.1% | ||
Deckers Outdoor Corp. * | 31 | 14,860 |
Lululemon Athletica, Inc. * | 130 | 49,391 |
NIKE, Inc., Class B | 1,245 | 157,766 |
PVH Corp. | 76 | 6,522 |
Ralph Lauren Corp. | 47 | 5,395 |
Tapestry, Inc. | 282 | 11,508 |
VF Corp. | 409 | 9,616 |
255,058 | ||
Trading Companies & Distributors — 0.4% | ||
Air Lease Corp. | 122 | 4,907 |
United Rentals, Inc. | 82 | 29,611 |
Univar Solutions, Inc. * | 229 | 8,130 |
WESCO International, Inc. | 52 | 7,488 |
WW Grainger, Inc. | 53 | 36,865 |
87,001 | ||
Water Utilities — 0.1% | ||
Essential Utilities, Inc. | 339 | 14,475 |
Wireless Telecommunication Services — 0.1% | ||
T-Mobile US, Inc. * | 107 | 15,397 |
Total Common Stocks (Cost $20,944,126) | 22,407,786 | |
Short-Term Investments — 0.1% | ||
Investment Companies — 0.1% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) (Cost $22,283) | 22,283 | 22,283 |
Total Investments — 99.9% (Cost $20,966,409) | 22,430,069 | |
Other Assets Less Liabilities — 0.1% | 28,489 | |
NET ASSETS — 100.0% | 22,458,558 |
Percentages indicated are based on net assets. |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 127 |
AS OF April 30, 2023 (Unaudited) (continued)
Abbreviations | |
REIT | Real Estate Investment Trust |
* | Non-income producing security. |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
Micro E-mini S&P 500 Index | 2 | 06/16/2023 | USD | 41,900 | 1,452 |
Abbreviations | |
USD | United States Dollar |
128 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 99.7% | ||
Brazil — 8.9% | ||
Ambev SA | 426,792 | 1,206,497 |
Auren Energia SA | 103,469 | 327,139 |
Banco do Brasil SA | 146,142 | 1,252,570 |
Banco Santander Brasil SA | 10,422 | 55,831 |
BB Seguridade Participacoes SA | 139,863 | 953,675 |
Bradespar SA (Preference) | 115,129 | 543,584 |
CCR SA | 360,043 | 977,381 |
Centrais Eletricas Brasileiras SA | 138,948 | 939,079 |
Cia de Saneamento Basico do Estado de Sao Paulo SABESP | 58,231 | 534,934 |
Cia Energetica de Minas Gerais (Preference) | 385,153 | 950,566 |
Cia Paranaense de Energia (Preference) | 480,350 | 770,440 |
Cielo SA | 682,100 | 742,573 |
CPFL Energia SA | 75,361 | 498,448 |
CTEEP-Cia de Transmissao de Energia Eletrica Paulista (Preference) | 132,938 | 615,942 |
EDP - Energias do Brasil SA | 137,866 | 621,085 |
Embraer SA * | 221,448 | 857,768 |
Engie Brasil Energia SA | 50,354 | 415,831 |
Gerdau SA (Preference) | 139,215 | 701,406 |
Hypera SA | 62,543 | 468,088 |
Itau Unibanco Holding SA (Preference) | 242,172 | 1,254,606 |
Itausa SA (Preference) | 190,499 | 329,224 |
M Dias Branco SA * | 44,736 | 258,310 |
Marfrig Global Foods SA | 119,047 | 155,140 |
Metalurgica Gerdau SA (Preference) | 185,779 | 432,434 |
Neoenergia SA | 13,356 | 41,050 |
Petroleo Brasileiro SA (Preference) | 472,408 | 2,239,955 |
Rumo SA | 155,309 | 612,169 |
Sao Martinho SA | 76,463 | 483,508 |
Telefonica Brasil SA | 87,733 | 723,457 |
TIM SA | 202,300 | 565,798 |
TOTVS SA | 20,873 | 106,964 |
Transmissora Alianca de Energia Eletrica SA | 80,106 | 584,759 |
Unipar Carbocloro SA (Preference), Class B | 8,317 | 109,119 |
Vale SA | 254,909 | 3,680,690 |
25,010,020 | ||
Chile — 1.4% | ||
Banco de Chile | 4,851,362 | 516,537 |
Banco Santander Chile | 5,962,674 | 285,115 |
CAP SA | 13,095 | 91,669 |
Cencosud SA | 395,900 | 806,758 |
Cia Cervecerias Unidas SA | 31,319 | 255,674 |
Cia Sud Americana de Vapores SA | 6,479,959 | 662,164 |
INVESTMENTS | SHARES | VALUE($) |
Chile — continued | ||
Colbun SA | 2,690,426 | 376,643 |
Embotelladora Andina SA (Preference), Class B | 117,737 | 294,937 |
Enel Americas SA | 3,244,741 | 442,145 |
Sociedad Quimica y Minera de Chile SA (Preference), Class B | 1,717 | 116,239 |
3,847,881 | ||
China — 25.4% | ||
3SBio, Inc. (a) | 268,500 | 269,027 |
Agile Group Holdings Ltd. * | 118,000 | 24,008 |
Agricultural Bank of China Ltd., Class A | 1,610,100 | 795,346 |
An Hui Wenergy Co. Ltd., Class A * | 272,300 | 213,989 |
Angang Steel Co. Ltd., Class H | 625,800 | 207,884 |
Anhui Conch Cement Co. Ltd., Class H | 182,500 | 576,248 |
Anhui Expressway Co. Ltd., Class A * | 249,500 | 341,960 |
ANTA Sports Products Ltd. | 17,600 | 218,702 |
BAIC Motor Corp. Ltd., Class H (a) | 482,000 | 135,654 |
Bank of Beijing Co. Ltd., Class A * | 547,900 | 375,306 |
Bank of China Ltd., Class H | 6,371,000 | 2,544,311 |
Bank of Communications Co. Ltd., Class A * | 993,600 | 799,545 |
Bank of Hangzhou Co. Ltd., Class A * | 214,200 | 388,841 |
Baoshan Iron & Steel Co. Ltd., Class A * | 390,800 | 363,904 |
Beijing Enterprises Holdings Ltd. | 76,000 | 315,399 |
Bosideng International Holdings Ltd. | 766,000 | 377,774 |
BYD Electronic International Co. Ltd. | 109,000 | 330,568 |
CGN Power Co. Ltd., Class H (a) | 2,601,000 | 686,828 |
China CITIC Bank Corp. Ltd., Class H | 1,929,000 | 1,043,522 |
China Coal Energy Co. Ltd., Class H * | 463,000 | 397,815 |
China Communications Services Corp. Ltd., Class H | 714,000 | 391,247 |
China Construction Bank Corp., Class H | 2,919,000 | 1,951,429 |
China Everbright Bank Co. Ltd., Class H * | 500,000 | 160,130 |
China Feihe Ltd. (a) | 395,000 | 266,739 |
China Hongqiao Group Ltd. | 527,500 | 519,575 |
China International Marine Containers Group Co. Ltd., Class A * | 317,400 | 321,570 |
China Lesso Group Holdings Ltd. | 222,000 | 191,924 |
China Medical System Holdings Ltd. | 346,000 | 574,401 |
China Merchants Energy Shipping Co. Ltd., Class A * | 332,600 | 318,997 |
China Merchants Port Group Co. Ltd., Class A * | 71,500 | 205,623 |
China Merchants Port Holdings Co. Ltd. | 298,000 | 442,179 |
China Minsheng Banking Corp. Ltd., Class H | 309,800 | 113,803 |
China National Accord Medicines Corp. Ltd., Class A * | 29,900 | 280,844 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 129 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
China — continued | ||
China National Building Material Co. Ltd., Class H | 598,250 | 448,873 |
China National Chemical Engineering Co. Ltd., Class A * | 130,700 | 200,209 |
China National Nuclear Power Co. Ltd., Class A * | 379,700 | 378,941 |
China Petroleum & Chemical Corp., Class H | 1,518,000 | 994,921 |
China Resources Cement Holdings Ltd. | 368,000 | 166,602 |
China Resources Double Crane Pharmaceutical Co. Ltd., Class A * | 156,300 | 468,871 |
China Resources Gas Group Ltd. | 151,800 | 479,132 |
China Resources Land Ltd. | 136,000 | 633,319 |
China Resources Pharmaceutical Group Ltd. (a) | 420,000 | 417,212 |
China Resources Power Holdings Co. Ltd. | 282,000 | 613,978 |
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Class A * | 62,400 | 531,722 |
China Shenhua Energy Co. Ltd., Class H | 413,500 | 1,373,461 |
China South Publishing & Media Group Co. Ltd., Class A * | 347,500 | 695,129 |
China United Network Communications Ltd., Class A * | 711,600 | 559,515 |
China Vanke Co. Ltd., Class H * | 77,100 | 120,530 |
China Yangtze Power Co. Ltd., Class A * | 245,400 | 775,956 |
Chinese Universe Publishing and Media Group Co. Ltd., Class A * | 347,100 | 895,920 |
Chongqing Changan Automobile Co. Ltd., Class A * | 208,530 | 359,752 |
Chongqing Rural Commercial Bank Co. Ltd., Class H | 423,000 | 163,502 |
CITIC Ltd. | 704,000 | 883,725 |
Citic Pacific Special Steel Group Co. Ltd., Class A | 125,676 | 293,373 |
COSCO SHIPPING Energy Transportation Co. Ltd., Class H * | 108,000 | 111,022 |
COSCO SHIPPING Holdings Co. Ltd., Class H * | 549,850 | 638,661 |
COSCO SHIPPING Ports Ltd. | 330,000 | 217,139 |
CSG Holding Co. Ltd., Class A * | 192,200 | 182,678 |
CSPC Pharmaceutical Group Ltd. | 248,000 | 252,538 |
Daan Gene Co. Ltd., Class A * | 116,160 | 261,530 |
Dali Foods Group Co. Ltd. (a) | 604,000 | 251,358 |
Daqin Railway Co. Ltd., Class A * | 350,800 | 390,293 |
Datang International Power Generation Co. Ltd., Class H * | 1,294,000 | 242,666 |
Dongfeng Motor Group Co. Ltd., Class H | 244,000 | 116,742 |
Dongguan Development Holdings Co. Ltd., Class A * | 178,400 | 257,352 |
INVESTMENTS | SHARES | VALUE($) |
China — continued | ||
ENN Energy Holdings Ltd. | 96,500 | 1,323,170 |
Fosun International Ltd. | 160,576 | 112,616 |
Fujian Sunner Development Co. Ltd., Class A | 76,100 | 235,215 |
G-bits Network Technology Xiamen Co. Ltd., Class A * | 5,100 | 385,991 |
GD Power Development Co. Ltd., Class A * | 797,500 | 445,011 |
Great Wall Motor Co. Ltd., Class H | 442,500 | 537,008 |
Guangdong Baolihua New Energy Stock Co. Ltd., Class A * | 455,300 | 436,513 |
Guangxi Guiguan Electric Power Co. Ltd., Class A * | 370,700 | 296,862 |
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class H * | 66,000 | 216,818 |
Guangzhou Shiyuan Electronic Technology Co. Ltd., Class A * | 19,800 | 188,874 |
Haitian International Holdings Ltd. | 156,000 | 405,332 |
Heilongjiang Agriculture Co. Ltd., Class A * | 235,600 | 462,365 |
Henan Shuanghui Investment & Development Co. Ltd., Class A | 16,200 | 58,407 |
Hengan International Group Co. Ltd. | 73,000 | 326,052 |
Hopson Development Holdings Ltd. | 92,536 | 82,281 |
Huabao Flavours & Fragrances Co. Ltd., Class A * | 60,300 | 208,909 |
Huadian Power International Corp. Ltd., Class H * | 910,000 | 441,322 |
Huadong Medicine Co. Ltd., Class A * | 70,200 | 420,559 |
Huaibei Mining Holdings Co. Ltd., Class A * | 153,900 | 302,552 |
Huapont Life Sciences Co. Ltd., Class A * | 397,200 | 303,117 |
Huaxin Cement Co. Ltd., Class H | 210,700 | 209,979 |
Huayu Automotive Systems Co. Ltd., Class A * | 87,900 | 208,258 |
Hubei Energy Group Co. Ltd., Class A | 410,900 | 253,404 |
Hubei Jumpcan Pharmaceutical Co. Ltd., Class A * | 86,000 | 392,199 |
Hunan Valin Steel Co. Ltd., Class A * | 307,400 | 234,653 |
Industrial & Commercial Bank of China Ltd., Class H | 3,817,000 | 2,053,562 |
Inner Mongolia Dian Tou Energy Corp. Ltd., Class A * | 232,016 | 452,090 |
Inner Mongolia ERDOS Resources Co. Ltd., Class A * | 129,600 | 270,902 |
Inner Mongolia Yitai Coal Co. Ltd., Class B * | 403,300 | 598,165 |
Jiangling Motors Corp. Ltd., Class A * | 111,000 | 220,102 |
Jiangsu Expressway Co. Ltd., Class A | 61,700 | 79,324 |
Jiangsu Hengli Hydraulic Co. Ltd., Class A * | 46,656 | 415,398 |
Jiangsu Yuyue Medical Equipment & Supply Co. Ltd., Class A * | 71,700 | 327,080 |
130 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
China — continued | ||
Jiangsu Zhongnan Construction Group Co. Ltd., Class A * | 298,600 | 77,258 |
Jiangsu Zhongtian Technology Co. Ltd., Class A * | 175,900 | 371,646 |
Joincare Pharmaceutical Group Industry Co. Ltd., Class A * | 160,400 | 300,256 |
Jointo Energy Investment Co. Ltd. Hebei, Class A * | 312,900 | 270,164 |
Joyoung Co. Ltd., Class A * | 50,971 | 119,994 |
JOYY, Inc., ADR | 7,256 | 220,800 |
Kingboard Holdings Ltd. | 165,500 | 506,882 |
KingClean Electric Co. Ltd., Class A * | 81,318 | 318,013 |
Kunlun Energy Co. Ltd. | 398,000 | 368,949 |
Kweichow Moutai Co. Ltd., Class A * | 7,800 | 1,985,896 |
LB Group Co. Ltd., Class A | 121,000 | 302,973 |
Li Ning Co. Ltd. | 208,500 | 1,491,112 |
Livzon Pharmaceutical Group, Inc., Class A * | 49,800 | 257,508 |
Longfor Group Holdings Ltd. (b) | 81,000 | 221,656 |
Maanshan Iron & Steel Co. Ltd., Class H * | 424,000 | 90,512 |
Metallurgical Corp. of China Ltd., Class A * | 468,400 | 303,527 |
Nanjing Iron & Steel Co. Ltd., Class A | 615,900 | 326,763 |
Ningbo Sanxing Medical Electric Co. Ltd., Class A * | 133,200 | 265,905 |
PetroChina Co. Ltd., Class A | 265,500 | 303,387 |
Ping An Insurance Group Co. of China Ltd., Class H | 143,500 | 1,046,907 |
Postal Savings Bank of China Co. Ltd., Class H (a) | 1,067,000 | 695,676 |
Qingdao Port International Co. Ltd., Class A * | 349,100 | 361,636 |
Qinhuangdao Port Co. Ltd., Class A | 694,200 | 337,174 |
Sany Heavy Industry Co. Ltd., Class A * | 128,800 | 307,327 |
Seazen Group Ltd. * | 228,000 | 49,011 |
Seazen Holdings Co. Ltd., Class A * | 71,600 | 154,058 |
Shaanxi Coal Industry Co. Ltd., Class A * | 241,300 | 682,987 |
Shandong Buchang Pharmaceuticals Co. Ltd., Class A * | 80,600 | 250,806 |
Shandong Hualu Hengsheng Chemical Co. Ltd., Class A | 119,040 | 548,836 |
Shandong Publishing & Media Co. Ltd., Class A * | 425,800 | 712,939 |
Shandong Weigao Group Medical Polymer Co. Ltd., Class H | 309,600 | 528,299 |
Shanghai International Port Group Co. Ltd., Class A * | 401,700 | 332,771 |
Shanghai Pharmaceuticals Holding Co. Ltd., Class H * | 28,900 | 58,753 |
INVESTMENTS | SHARES | VALUE($) |
China — continued | ||
Shanghai Tunnel Engineering Co. Ltd., Class A * | 368,400 | 348,188 |
Shanghai Waigaoqiao Free Trade Zone Group Co. Ltd., Class A * | 110,200 | 186,327 |
Shanxi Coking Coal Energy Group Co. Ltd., Class A * | 169,600 | 252,064 |
Shanxi Lu'an Environmental Energy Development Co. Ltd., Class A * | 117,000 | 341,182 |
Shenzhen Jinjia Group Co. Ltd., Class A * | 70,500 | 74,536 |
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A * | 13,700 | 618,032 |
Shenzhen Overseas Chinese Town Co. Ltd., Class A * | 327,600 | 237,222 |
Shenzhen Salubris Pharmaceuticals Co. Ltd., Class A | 63,200 | 328,215 |
Sinoma International Engineering Co., Class A * | 112,200 | 233,991 |
Sino-Ocean Group Holding Ltd. | 630,500 | 55,644 |
Sinopharm Group Co. Ltd., Class H | 135,600 | 480,333 |
Sinotruk Hong Kong Ltd. | 220,500 | 336,977 |
Skyworth Digital Co. Ltd., Class A * | 128,700 | 305,660 |
Tangshan Jidong Cement Co. Ltd., Class A * | 142,400 | 167,960 |
TangShan Port Group Co. Ltd., Class A * | 1,242,000 | 708,918 |
Tian Di Science & Technology Co. Ltd., Class A * | 527,200 | 416,357 |
Tianhe Chemicals Group Ltd. ‡ * | 20,000 | — |
Wanxiang Qianchao Co. Ltd., Class A * | 706,400 | 519,953 |
Weichai Power Co. Ltd., Class A * | 205,256 | 342,038 |
Weifu High-Technology Group Co. Ltd., Class A * | 103,500 | 250,028 |
Wuliangye Yibin Co. Ltd., Class A | 33,500 | 818,599 |
Xiamen C & D, Inc., Class A * | 171,300 | 300,423 |
Xinhua Winshare Publishing and Media Co. Ltd., Class A * | 274,200 | 769,626 |
Xinxing Ductile Iron Pipes Co. Ltd., Class A * | 82,900 | 54,522 |
Yangzijiang Shipbuilding Holdings Ltd. | 623,800 | 581,718 |
Yankuang Energy Group Co. Ltd., Class H * | 308,000 | 1,056,617 |
Yintai Gold Co. Ltd., Class A | 206,920 | 384,869 |
Yuexiu Property Co. Ltd. (c) | 117,400 | 169,839 |
Yunnan Baiyao Group Co. Ltd., Class A * | 28,660 | 240,892 |
Zhejiang Expressway Co. Ltd., Class H | 420,000 | 348,542 |
Zhejiang Hisoar Pharmaceutical Co. Ltd., Class A * | 182,000 | 202,570 |
Zhejiang Sanhua Intelligent Controls Co. Ltd., Class A | 138,180 | 466,540 |
Zhejiang Semir Garment Co. Ltd., Class A * | 232,500 | 225,743 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 131 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
China — continued | ||
Zhejiang Weixing New Building Materials Co. Ltd., Class A * | 98,097 | 313,488 |
Zhengzhou Coal Mining Machinery Group Co. Ltd., Class A * | 224,300 | 460,981 |
Zhongsheng Group Holdings Ltd. | 82,500 | 352,400 |
Zijin Mining Group Co. Ltd., Class H * | 412,000 | 697,539 |
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class H * | 503,400 | 274,778 |
71,519,496 | ||
Colombia — 0.2% | ||
Bancolombia SA (Preference) | 69,500 | 430,491 |
Grupo Aval Acciones y Valores SA (Preference) | 581,767 | 72,814 |
503,305 | ||
Czech Republic — 0.5% | ||
CEZ A/S * | 24,509 | 1,316,494 |
Moneta Money Bank A/S (a) | 58,360 | 213,997 |
1,530,491 | ||
Egypt — 0.1% | ||
Commercial International Bank Egypt SAE | 97,354 | 168,819 |
Greece — 1.2% | ||
Hellenic Telecommunications Organization SA | 53,679 | 784,341 |
JUMBO SA | 33,727 | 777,052 |
Mytilineos SA | 29,507 | 856,080 |
OPAP SA * | 50,395 | 859,371 |
3,276,844 | ||
Hong Kong — 0.1% | ||
Kingboard Laminates Holdings Ltd. | 255,500 | 263,316 |
Hungary — 0.5% | ||
Magyar Telekom Telecommunications plc | 138,863 | 174,731 |
MOL Hungarian Oil & Gas plc | 63,821 | 517,541 |
Richter Gedeon Nyrt. | 30,833 | 744,695 |
1,436,967 | ||
India — 10.2% | ||
Adani Power Ltd. * | 132,439 | 365,264 |
Aurobindo Pharma Ltd. | 20,247 | 153,058 |
Bajaj Auto Ltd. | 13,202 | 716,552 |
Bajaj Holdings & Investment Ltd. | 1,201 | 100,775 |
Bharat Petroleum Corp. Ltd. | 55,612 | 243,410 |
Castrol India Ltd. | 20,100 | 29,494 |
Cipla Ltd. | 52,636 | 585,603 |
Colgate-Palmolive India Ltd. | 8,154 | 159,220 |
INVESTMENTS | SHARES | VALUE($) |
India — continued | ||
Dabur India Ltd. | 65,774 | 429,299 |
Divi's Laboratories Ltd. | 11,124 | 445,647 |
Dr Reddy's Laboratories Ltd. | 10,377 | 625,758 |
GAIL India Ltd. | 105,609 | 138,817 |
Glenmark Pharmaceuticals Ltd. | 11,783 | 81,320 |
HCL Technologies Ltd. | 69,136 | 903,887 |
Hindalco Industries Ltd. | 29,124 | 156,263 |
Hindustan Petroleum Corp. Ltd. | 25,649 | 78,899 |
Hindustan Unilever Ltd. | 90,038 | 2,710,116 |
Hindustan Zinc Ltd. | 16,955 | 65,324 |
Housing Development Finance Corp. Ltd. | 62,636 | 2,134,125 |
ICICI Lombard General Insurance Co. Ltd. * (a) | 4,490 | 59,355 |
Indian Oil Corp. Ltd. | 135,214 | 134,751 |
Indus Towers Ltd. | 121,298 | 230,484 |
Infosys Ltd. | 263,994 | 4,073,208 |
ITC Ltd. | 345,022 | 1,799,208 |
Jindal Steel & Power Ltd. | 27,697 | 198,183 |
JSW Steel Ltd. | 45,598 | 405,709 |
Mphasis Ltd. | 2,812 | 62,735 |
Nestle India Ltd. | 3,211 | 855,406 |
NHPC Ltd. | 323,243 | 175,499 |
NMDC Ltd. | 148,105 | 197,194 |
NTPC Ltd. | 279,604 | 589,733 |
Oil & Natural Gas Corp. Ltd. | 223,409 | 435,704 |
Oil India Ltd. | 18,294 | 57,190 |
Petronet LNG Ltd. | 85,160 | 247,344 |
Piramal Enterprises Ltd. | 7,206 | 65,114 |
Power Grid Corp. of India Ltd. | 168,970 | 491,332 |
REC Ltd. | 98,193 | 159,107 |
Reliance Industries Ltd. | 71,433 | 2,121,357 |
Steel Authority of India Ltd. | 100,738 | 102,369 |
Sun Pharmaceutical Industries Ltd. | 47,939 | 579,877 |
Tata Consultancy Services Ltd. * | 57,336 | 2,266,875 |
Tata Power Co. Ltd. (The) | 302,434 | 747,022 |
Tata Steel Ltd. | 585,070 | 775,668 |
Titan Co. Ltd. | 16,367 | 530,279 |
Torrent Power Ltd. | 15,906 | 107,483 |
United Breweries Ltd. | 3,354 | 60,802 |
UPL Ltd. | 31,896 | 289,479 |
Vedanta Ltd. | 147,410 | 505,676 |
Wipro Ltd. | 4,819 | 22,819 |
Zydus Lifesciences Ltd. | 19,033 | 121,205 |
28,590,998 |
132 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Indonesia — 3.7% | ||
Adaro Energy Indonesia Tbk. PT | 3,815,200 | 816,697 |
Astra International Tbk. PT | 2,443,700 | 1,127,203 |
Bank Central Asia Tbk. PT | 3,011,000 | 1,863,362 |
Bukit Asam Tbk. PT | 2,450,700 | 693,118 |
Charoen Pokphand Indonesia Tbk. PT | 649,600 | 203,374 |
Gudang Garam Tbk. PT | 65,300 | 126,638 |
Hanjaya Mandala Sampoerna Tbk. PT | 4,294,100 | 297,104 |
Indofood CBP Sukses Makmur Tbk. PT | 362,300 | 261,593 |
Indofood Sukses Makmur Tbk. PT | 999,700 | 440,040 |
Kalbe Farma Tbk. PT | 4,741,800 | 686,536 |
Media Nusantara Citra Tbk. PT * | 4,135,200 | 166,583 |
Perusahaan Gas Negara Tbk. PT | 4,927,200 | 481,996 |
Sarana Menara Nusantara Tbk. PT | 4,944,800 | 346,298 |
Telkom Indonesia Persero Tbk. PT | 5,375,100 | 1,556,891 |
Unilever Indonesia Tbk. PT | 1,408,700 | 423,116 |
United Tractors Tbk. PT | 279,200 | 551,162 |
Vale Indonesia Tbk. PT * | 418,300 | 199,932 |
XL Axiata Tbk. PT | 2,345,500 | 280,734 |
10,522,377 | ||
Kuwait — 1.9% | ||
Agility Public Warehousing Co. KSC | 164,978 | 334,872 |
Humansoft Holding Co. KSC | 31,226 | 397,968 |
Kuwait Finance House KSCP | 671,244 | 1,640,246 |
Mobile Telecommunications Co. KSCP | 462,754 | 862,361 |
National Bank of Kuwait SAKP | 650,738 | 2,136,379 |
5,371,826 | ||
Malaysia — 2.0% | ||
Astro Malaysia Holdings Bhd. | 495,600 | 77,303 |
Axiata Group Bhd. | 547,600 | 367,938 |
CELCOMDIGI Bhd. | 493,500 | 487,393 |
Hong Leong Financial Group Bhd. | 15,600 | 63,372 |
IHH Healthcare Bhd. | 168,200 | 216,451 |
Kuala Lumpur Kepong Bhd. | 37,400 | 180,644 |
Malayan Banking Bhd. | 66,208 | 128,661 |
Maxis Bhd. | 601,900 | 594,596 |
Nestle Malaysia Bhd. | 11,000 | 334,155 |
Petronas Chemicals Group Bhd. | 353,100 | 561,905 |
Petronas Gas Bhd. | 177,900 | 674,030 |
PPB Group Bhd. | 156,860 | 571,807 |
RHB Bank Bhd. | 145,300 | 178,729 |
Telekom Malaysia Bhd. | 411,200 | 458,130 |
Tenaga Nasional Bhd. | 417,800 | 834,487 |
5,729,601 |
INVESTMENTS | SHARES | VALUE($) |
Mexico — 7.2% | ||
Alfa SAB de CV, Class A | 1,023,343 | 653,410 |
America Movil SAB de CV | 2,217,951 | 2,391,950 |
Arca Continental SAB de CV | 98,074 | 936,856 |
Banco del Bajio SA (a) | 95,764 | 314,890 |
Cemex SAB de CV * | 1,572,709 | 945,576 |
Coca-Cola Femsa SAB de CV | 110,297 | 913,564 |
El Puerto de Liverpool SAB de CV, Class C1 | 59,206 | 363,808 |
Fibra Uno Administracion SA de CV, REIT | 617,017 | 851,425 |
Fomento Economico Mexicano SAB de CV | 32,845 | 319,471 |
Gruma SAB de CV, Class B | 52,079 | 817,820 |
Grupo Aeroportuario del Centro Norte SAB de CV | 78,025 | 855,956 |
Grupo Aeroportuario del Pacifico SAB de CV, Class B | 56,809 | 1,010,110 |
Grupo Aeroportuario del Sureste SAB de CV, Class B | 34,749 | 995,476 |
Grupo Bimbo SAB de CV | 293,299 | 1,574,201 |
Grupo Carso SAB de CV | 64,171 | 364,264 |
Grupo Financiero Banorte SAB de CV, Class O | 295,439 | 2,560,433 |
Grupo Mexico SAB de CV | 24,071 | 117,721 |
Kimberly-Clark de Mexico SAB de CV, Class A | 64,540 | 145,883 |
Megacable Holdings SAB de CV | 139,103 | 378,482 |
Orbia Advance Corp. SAB de CV | 329,814 | 759,437 |
Promotora y Operadora de Infraestructura SAB de CV | 61,926 | 644,455 |
Regional SAB de CV | 20,184 | 147,769 |
Wal-Mart de Mexico SAB de CV | 549,110 | 2,213,299 |
20,276,256 | ||
Pakistan — 0.1% | ||
Oil & Gas Development Co. Ltd. | 495,565 | 150,145 |
Philippines — 0.5% | ||
Globe Telecom, Inc. | 4,338 | 133,479 |
Manila Electric Co. | 67,630 | 414,827 |
Metro Pacific Investments Corp. | 4,176,200 | 334,231 |
PLDT, Inc. | 18,465 | 401,813 |
Puregold Price Club, Inc. | 38,000 | 22,401 |
1,306,751 | ||
Qatar — 1.7% | ||
Commercial Bank PSQC (The) | 167,877 | 272,234 |
Industries Qatar QSC | 233,390 | 822,381 |
Mesaieed Petrochemical Holding Co. | 318,417 | 174,210 |
Ooredoo QPSC | 279,934 | 761,782 |
Qatar Electricity & Water Co. QSC | 118,092 | 544,067 |
Qatar Fuel QSC | 60,499 | 276,167 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 133 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Qatar — continued | ||
Qatar Gas Transport Co. Ltd. | 724,680 | 790,505 |
Qatar International Islamic Bank QSC | 57,157 | 156,262 |
Qatar Islamic Bank SAQ | 153,312 | 757,718 |
Qatar Navigation QSC | 102,886 | 256,169 |
4,811,495 | ||
Russia — 0.0% ^ | ||
Alrosa PJSC ‡ * | 200,448 | 4,122 |
Federal Grid Co. ROSSETI PJSC ‡ * | 42,872,768 | 976 |
Federal Grid Co. Unified Energy System PJSC ‡ * | 127,925,624 | 2,782 |
Inter RAO UES PJSC ‡ | 6,142,220 | 4,185 |
LUKOIL PJSC ‡ | 17,853 | 21,998 |
M.Video PJSC ‡ * | 8,526 | 539 |
Magnit PJSC ‡ * | 7,858 | 5,824 |
Magnitogorsk Iron & Steel Works PJSC ‡ * | 334,440 | 3,866 |
MMC Norilsk Nickel PJSC ‡ | 3,087 | 14,762 |
Mobile TeleSystems PJSC ‡ | 120,496 | 6,770 |
Novolipetsk Steel PJSC ‡ * | 155,019 | 6,950 |
PhosAgro PJSC ‡ | 1,940 | 2,387 |
Rostelecom PJSC ‡ | 157,186 | 2,668 |
RusHydro PJSC ‡ | 35,715,691 | 5,977 |
Sberbank of Russia PJSC ‡ * | 537,391 | 16,767 |
Severstal PAO ‡ * | 20,498 | 6,910 |
Sistema PJSFC ‡ * | 308,352 | 918 |
Surgutneftegas PJSC (Preference) ‡ | 655,737 | 4,970 |
Tatneft PJSC ‡ | 17,275 | 1,549 |
Unipro PJSC ‡ * | 4,941,067 | 1,948 |
116,868 | ||
Saudi Arabia — 4.7% | ||
Abdullah Al Othaim Markets Co. | 9,240 | 354,252 |
ACWA Power Co. * | 51 | 2,145 |
Almarai Co. JSC | 38,865 | 613,108 |
Arab National Bank | 29,193 | 214,062 |
Arabian Internet & Communications Services Co. | 10,927 | 817,946 |
Banque Saudi Fransi | 13,307 | 138,076 |
Dr Sulaiman Al Habib Medical Services Group Co. | 14,572 | 1,119,361 |
Elm Co. | 7,556 | 896,080 |
Etihad Etisalat Co. * | 83,925 | 1,035,086 |
Jarir Marketing Co. | 17,113 | 746,528 |
Mouwasat Medical Services Co. | 406 | 26,833 |
Riyad Bank | 10,980 | 88,558 |
SABIC Agri-Nutrients Co. | 11,768 | 423,120 |
INVESTMENTS | SHARES | VALUE($) |
Saudi Arabia — continued | ||
Sahara International Petrochemical Co. | 56,201 | 586,005 |
Saudi Airlines Catering Co. | 26,791 | 680,854 |
Saudi Arabian Mining Co. * | 27,876 | 521,470 |
Saudi Arabian Oil Co. (a) | 219,089 | 2,111,812 |
Saudi Cement Co. | 31,672 | 476,142 |
Saudi Electricity Co. | 153,432 | 994,679 |
Saudi Investment Bank (The) | 79,770 | 350,096 |
Saudi Telecom Co. | 40,871 | 491,922 |
Yanbu Cement Co. | 44,167 | 423,178 |
13,111,313 | ||
Singapore — 0.0% ^ | ||
Yangzijiang Financial Holding Ltd. * | 212,800 | 61,620 |
South Africa — 3.9% | ||
African Rainbow Minerals Ltd. | 41,513 | 521,502 |
Anglo American Platinum Ltd. | 8,286 | 491,264 |
Aspen Pharmacare Holdings Ltd. | 18,359 | 183,752 |
AVI Ltd. | 136,297 | 508,665 |
Bidvest Group Ltd. (The) | 71,055 | 973,231 |
Exxaro Resources Ltd. | 60,564 | 636,366 |
Foschini Group Ltd. (The) | 6,880 | 35,675 |
Impala Platinum Holdings Ltd. | 91,556 | 891,371 |
Investec Ltd. | 64,368 | 353,993 |
MTN Group Ltd. | 216,876 | 1,523,296 |
MultiChoice Group | 93,758 | 586,817 |
Nedbank Group Ltd. | 63,183 | 728,975 |
Netcare Ltd. | 168,959 | 147,555 |
Pepkor Holdings Ltd. (a) | 256,399 | 237,582 |
Pick n Pay Stores Ltd. | 132,012 | 313,350 |
Royal Bafokeng Platinum Ltd. | 10,523 | 82,579 |
Shoprite Holdings Ltd. | 27,282 | 332,950 |
Sibanye Stillwater Ltd. | 226,512 | 500,781 |
Tiger Brands Ltd. | 46,591 | 504,790 |
Vodacom Group Ltd. | 114,994 | 788,210 |
Woolworths Holdings Ltd. | 216,273 | 769,089 |
11,111,793 | ||
Taiwan — 11.8% | ||
Accton Technology Corp. * | 69,000 | 674,055 |
Asia Cement Corp. * | 356,000 | 509,889 |
Capital Securities Corp. * | 741,000 | 331,058 |
Catcher Technology Co. Ltd. * | 84,000 | 495,526 |
Cheng Shin Rubber Industry Co. Ltd. | 536,000 | 660,559 |
Chicony Electronics Co. Ltd. * | 54,551 | 172,358 |
China Airlines Ltd. * | 893,000 | 553,980 |
134 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Taiwan — continued | ||
China Motor Corp. | 154,000 | 396,654 |
China Steel Corp. * | 244,000 | 231,418 |
Chunghwa Telecom Co. Ltd. * | 435,000 | 1,799,959 |
CTBC Financial Holding Co. Ltd. | 2,237,395 | 1,649,270 |
E.Sun Financial Holding Co. Ltd. * | 1,222,216 | 993,969 |
Eclat Textile Co. Ltd. * | 16,000 | 254,801 |
Eva Airways Corp. * | 560,000 | 491,065 |
Evergreen Marine Corp. Taiwan Ltd. * | 142,800 | 754,201 |
Far Eastern New Century Corp. * | 723,000 | 751,545 |
Far EasTone Telecommunications Co. Ltd. * | 278,000 | 714,284 |
Feng TAY Enterprise Co. Ltd. * | 43,000 | 267,516 |
First Financial Holding Co. Ltd. * | 1,170,357 | 1,033,758 |
Formosa Chemicals & Fibre Corp. * | 309,000 | 693,455 |
Formosa Taffeta Co. Ltd. * | 289,000 | 266,473 |
Fubon Financial Holding Co. Ltd. * | 255,185 | 491,461 |
Globalwafers Co. Ltd. | 23,000 | 361,473 |
Hotai Motor Co. Ltd. * | 18,000 | 388,002 |
Largan Precision Co. Ltd. | 16,000 | 1,050,595 |
Lite-On Technology Corp. | 278,000 | 665,955 |
Mega Financial Holding Co. Ltd. * | 1,260,013 | 1,397,905 |
Nan Ya Plastics Corp. * | 642,000 | 1,631,692 |
Nien Made Enterprise Co. Ltd. * | 54,000 | 594,548 |
Novatek Microelectronics Corp. * | 17,000 | 232,409 |
Pou Chen Corp. * | 677,000 | 701,301 |
President Chain Store Corp. * | 106,000 | 933,850 |
Realtek Semiconductor Corp. * | 61,000 | 715,345 |
SinoPac Financial Holdings Co. Ltd. * | 1,871,275 | 1,018,348 |
Taiwan Cooperative Financial Holding Co. Ltd. * | 1,112,819 | 970,009 |
Taiwan Fertilizer Co. Ltd. * | 310,000 | 596,908 |
Taiwan Mobile Co. Ltd. | 298,000 | 1,004,090 |
Taiwan Semiconductor Manufacturing Co. Ltd. | 201,000 | 3,291,494 |
Uni-President Enterprises Corp. * | 631,000 | 1,512,733 |
Yang Ming Marine Transport Corp. * | 214,000 | 441,479 |
Yuanta Financial Holding Co. Ltd. * | 1,709,529 | 1,258,398 |
Yulon Motor Co. Ltd. | 144,000 | 378,624 |
33,332,412 | ||
Thailand — 3.2% | ||
Advanced Info Service PCL | 172,200 | 1,081,135 |
Bangkok Bank PCL | 86,100 | 396,652 |
Bangkok Dusit Medical Services PCL, Class F | 1,036,800 | 888,100 |
Banpu PCL | 1,739,800 | 465,234 |
Bumrungrad Hospital PCL | 90,300 | 630,617 |
INVESTMENTS | SHARES | VALUE($) |
Thailand — continued | ||
Digital Telecommunications Infrastructure Fund, Class F | 1,313,100 | 488,363 |
Electricity Generating PCL | 83,400 | 383,030 |
Gulf Energy Development PCL | 505,700 | 754,243 |
Home Product Center PCL | 1,153,400 | 474,577 |
Intouch Holdings PCL, NVDR | 241,500 | 531,747 |
Krung Thai Bank PCL | 1,681,900 | 889,165 |
PTT Exploration & Production PCL | 249,900 | 1,087,328 |
Ratch Group PCL | 331,700 | 367,371 |
Thai Oil PCL | 265,200 | 363,022 |
Thai Union Group PCL, Class F | 387,300 | 156,730 |
True Corp. PCL, NVDR | 610,000 | 142,016 |
9,099,330 | ||
Turkey — 8.0% | ||
AG Anadolu Grubu Holding A/S | 108,085 | 527,881 |
Akbank TAS | 854,752 | 706,704 |
Akcansa Cimento A/S | 45,174 | 150,027 |
Aksa Enerji Uretim A/S | 246,396 | 354,428 |
Alarko Holding A/S | 152,158 | 461,197 |
Anadolu Efes Biracilik ve Malt Sanayii A/S | 217,551 | 704,565 |
Arcelik A/S | 91,765 | 457,250 |
Aselsan Elektronik Sanayi ve Ticaret A/S | 240,652 | 553,733 |
Aygaz A/S | 72,153 | 241,379 |
Bera Holding AS | 326,293 | 170,502 |
BIM Birlesik Magazalar A/S | 112,723 | 905,728 |
Can2 Termik A/S * | 18,011 | 45,001 |
Cimsa Cimento Sanayi ve Ticaret A/S | 97,200 | 423,749 |
Coca-Cola Icecek A/S | 57,809 | 700,217 |
Dogan Sirketler Grubu Holding A/S * | 1,223,370 | 539,143 |
Dogus Otomotiv Servis ve Ticaret A/S | 73,524 | 462,655 |
EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret A/S | 354,428 | 539,709 |
Enerjisa Enerji A/S (a) | 369,761 | 530,270 |
Enka Insaat ve Sanayi A/S | 469,265 | 660,375 |
Eregli Demir ve Celik Fabrikalari TAS * | 338,481 | 577,579 |
Europen Endustri Insaat Sanayi ve Ticaret A/S * | 246,765 | 124,959 |
Ford Otomotiv Sanayi A/S | 23,000 | 635,773 |
Girisim Elektrik Taahhut Ticaret ve Sanayi A/S * | 124,932 | 430,324 |
Haci Omer Sabanci Holding A/S | 322,343 | 633,639 |
Kimteks Poliuretan Sanayi ve Ticaret A/S | 47,842 | 210,169 |
KOC Holding A/S | 202,162 | 787,053 |
Kontrolmatik Enerji ve Muhendislik A/S | 38,374 | 261,002 |
Koza Altin Isletmeleri A/S | 581,684 | 565,705 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 135 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Turkey — continued | ||
Koza Anadolu Metal Madencilik Isletmeleri A/S * | 267,721 | 488,010 |
Mavi Giyim Sanayi ve Ticaret A/S, Class B (a) | 33,381 | 180,020 |
Migros Ticaret A/S * | 51,354 | 460,759 |
MLP Saglik Hizmetleri A/S * (a) | 42,494 | 144,294 |
Nuh Cimento Sanayi A/S | 19,136 | 127,006 |
Otokar Otomotiv ve Savunma Sanayi AS * | 6,398 | 276,293 |
Oyak Cimento Fabrikalari A/S * | 243,011 | 377,294 |
Penta Teknoloji Urunleri Dagitim Ticaret A/S * | 41,271 | 31,635 |
TAV Havalimanlari Holding A/S * | 154,308 | 559,628 |
Tekfen Holding A/S | 246,214 | 364,943 |
Tofas Turk Otomobil Fabrikasi A/S | 63,887 | 631,052 |
Turk Hava Yollari AO * | 120,769 | 794,226 |
Turk Telekomunikasyon A/S * | 645,982 | 541,030 |
Turk Traktor ve Ziraat Makineleri A/S | 18,869 | 541,290 |
Turkcell Iletisim Hizmetleri A/S | 431,731 | 735,472 |
Turkiye Halk Bankasi A/S * | 954,362 | 515,659 |
Turkiye Is Bankasi A/S, Class C | 1,146,923 | 639,307 |
Turkiye Petrol Rafinerileri A/S | 125,405 | 428,243 |
Turkiye Sise ve Cam Fabrikalari A/S | 341,590 | 648,039 |
Yapi ve Kredi Bankasi A/S | 1,287,905 | 628,359 |
22,473,275 | ||
United Arab Emirates — 2.3% | ||
Abu Dhabi Commercial Bank PJSC | 402,986 | 968,234 |
Abu Dhabi Islamic Bank PJSC | 212,776 | 659,196 |
Abu Dhabi Ports Co. PJSC * | 403,760 | 754,451 |
Air Arabia PJSC | 661,335 | 395,105 |
Aldar Properties PJSC | 566,843 | 836,087 |
Dubai Islamic Bank PJSC | 413,519 | 627,357 |
Emirates Telecommunications Group Co. PJSC | 168,420 | 1,102,470 |
Multiply Group PJSC * | 775,588 | 711,572 |
National Marine Dredging Co. * | 48,137 | 285,101 |
Salik Co. PJSC | 207,872 | 169,250 |
6,508,823 | ||
United States — 0.2% | ||
JBS SA | 170,625 | 608,911 |
Total Common Stocks (Cost $268,636,369) | 280,740,933 | |
Short-Term Investments — 0.0% ^ | ||
Investment of Cash Collateral from Securities Loaned — 0.0% ^ | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (d) (e)(Cost $102,725) | 102,725 | 102,725 |
INVESTMENTS | SHARES | VALUE($) |
Total Investments — 99.7% (Cost $268,739,094) | 280,843,658 | |
Other Assets Less Liabilities — 0.3% | 855,095 | |
NET ASSETS — 100.0% | 281,698,753 |
Percentages indicated are based on net assets. |
Abbreviations | |
ADR | American Depositary Receipt |
JSC | Joint Stock Company |
NVDR | Non-Voting Depositary Receipt |
PJSC | Public Joint Stock Company |
Preference | A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference shares may also have liquidation preference. |
PT | Limited liability company |
REIT | Real Estate Investment Trust |
^ | Amount rounds to less than 0.1% of net assets. | |
‡ | Value determined using significant unobservable inputs. | |
* | Non-income producing security. | |
(a) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. | |
(b) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. | |
(c) | The security or a portion of this security is on loan at April 30, 2023. The total value of securities on loan at April 30, 2023 is $84,919. | |
(d) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(e) | The rate shown is the current yield as of April 30, 2023. |
136 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Banks | 14.7 % |
Oil, Gas & Consumable Fuels | 7.6 |
Metals & Mining | 6.0 |
Wireless Telecommunication Services | 5.0 |
Food Products | 4.0 |
Electric Utilities | 3.9 |
Transportation Infrastructure | 3.5 |
Industrial Conglomerates | 3.3 |
Independent Power and Renewable Electricity Producers | 3.3 |
Diversified Telecommunication Services | 3.3 |
IT Services | 3.2 |
Pharmaceuticals | 3.0 |
Beverages | 2.9 |
Chemicals | 2.7 |
Consumer Staples Distribution & Retail | 2.3 |
Automobiles | 1.9 |
Construction Materials | 1.9 |
Machinery | 1.8 |
Financial Services | 1.7 |
Health Care Providers & Services | 1.7 |
Semiconductors & Semiconductor Equipment | 1.6 |
Textiles, Apparel & Luxury Goods | 1.6 |
Personal Care Products | 1.5 |
Gas Utilities | 1.4 |
Specialty Retail | 1.4 |
Media | 1.3 |
Marine Transportation | 1.0 |
Others (each less than 1.0%) | 12.5 |
Short-Term Investments | 0.0 (a) |
(a) | Amount rounds to less than 0.1%. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
MSCI Emerging Markets E-Mini Index | 6 | 06/16/2023 | USD | 295,290 | 13,228 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 137 |
AS OF April 30, 2023 (Unaudited) (continued)
Abbreviations | |
MSCI | Morgan Stanley Capital International |
USD | United States Dollar |
138 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 99.1% | ||
Australia — 10.5% | ||
AGL Energy Ltd. | 547,619 | 3,014,637 |
Altium Ltd. | 56,337 | 1,436,101 |
Alumina Ltd. | 1,004,446 | 1,019,453 |
Ampol Ltd. | 99,523 | 1,985,755 |
Ansell Ltd. | 112,715 | 2,005,776 |
ANZ Group Holdings Ltd. | 47,277 | 767,696 |
APA Group | 324,699 | 2,216,862 |
Aurizon Holdings Ltd. | 261,958 | 595,601 |
BHP Group Ltd. | 89,922 | 2,668,660 |
BlueScope Steel Ltd. | 11,979 | 159,222 |
Charter Hall Group, REIT | 78,964 | 587,481 |
Cochlear Ltd. | 13,838 | 2,268,984 |
Coles Group Ltd. | 267,817 | 3,235,277 |
CSR Ltd. | 546,726 | 1,913,938 |
Dexus, REIT | 455,599 | 2,361,364 |
EBOS Group Ltd. | 15,288 | 419,549 |
Endeavour Group Ltd. | 87,693 | 395,250 |
Flutter Entertainment plc * | 9,941 | 1,992,155 |
Fortescue Metals Group Ltd. | 160,982 | 2,252,401 |
Glencore plc | 504,560 | 2,978,233 |
GPT Group (The), REIT | 846,445 | 2,488,993 |
Harvey Norman Holdings Ltd. | 529,783 | 1,272,331 |
Iluka Resources Ltd. | 68,751 | 505,180 |
Incitec Pivot Ltd. | 536,375 | 1,142,809 |
JB Hi-Fi Ltd. | 70,696 | 2,092,299 |
Lottery Corp. Ltd. (The) | 663,155 | 2,223,549 |
Metcash Ltd. | 725,784 | 1,880,881 |
Mirvac Group, REIT | 420,033 | 674,332 |
New Hope Corp. Ltd. | 145,362 | 513,843 |
Origin Energy Ltd. | 582,615 | 3,230,319 |
Ramsay Health Care Ltd. | 55,143 | 2,371,218 |
REA Group Ltd. | 680 | 63,953 |
Rio Tinto Ltd. | 33,393 | 2,504,631 |
Rio Tinto plc | 42,478 | 2,700,428 |
Santos Ltd. | 557,357 | 2,640,254 |
Sonic Healthcare Ltd. | 122,477 | 2,887,145 |
South32 Ltd. | 711,120 | 2,010,160 |
Stockland, REIT | 249,224 | 738,794 |
Tabcorp Holdings Ltd. | 1,396,760 | 974,262 |
Telstra Group Ltd. | 845,495 | 2,452,965 |
Treasury Wine Estates Ltd. | 296,163 | 2,743,388 |
Vicinity Ltd., REIT | 1,041,554 | 1,456,061 |
Wesfarmers Ltd. | 83,082 | 2,874,090 |
Whitehaven Coal Ltd. | 461,637 | 2,215,293 |
INVESTMENTS | SHARES | VALUE($) |
Australia — continued | ||
WiseTech Global Ltd. | 41,707 | 1,910,419 |
Woodside Energy Group Ltd. | 120,405 | 2,732,029 |
Woolworths Group Ltd. | 63,008 | 1,625,407 |
Yancoal Australia Ltd. | 99,918 | 369,382 |
85,568,810 | ||
Austria — 0.5% | ||
Mondi plc | 161,347 | 2,571,118 |
OMV AG | 34,122 | 1,614,745 |
4,185,863 | ||
Belgium — 0.2% | ||
D'ieteren Group | 1,642 | 309,170 |
Proximus SADP | 118,348 | 1,008,868 |
1,318,038 | ||
Brazil — 0.3% | ||
Yara International ASA | 63,237 | 2,546,481 |
Cambodia — 0.0% ^ | ||
NagaCorp Ltd. * | 121,231 | 98,288 |
Chile — 0.4% | ||
Antofagasta plc | 158,628 | 2,917,645 |
China — 1.5% | ||
Budweiser Brewing Co. APAC Ltd. (a) | 687,200 | 1,985,465 |
Chow Tai Fook Jewellery Group Ltd. | 264,200 | 530,570 |
Lenovo Group Ltd. | 3,392,000 | 3,470,274 |
SITC International Holdings Co. Ltd. | 215,000 | 397,682 |
Want Want China Holdings Ltd. | 2,744,000 | 1,750,000 |
Wilmar International Ltd. | 817,100 | 2,413,483 |
Xinyi Glass Holdings Ltd. | 939,000 | 1,717,939 |
12,265,413 | ||
Denmark — 0.8% | ||
Carlsberg A/S, Class B | 17,590 | 2,911,089 |
DSV A/S | 610 | 114,803 |
Novo Nordisk A/S, Class B | 21,961 | 3,653,311 |
6,679,203 | ||
Finland — 1.2% | ||
Elisa OYJ | 48,356 | 3,002,970 |
Fortum OYJ | 10,137 | 151,406 |
Kesko OYJ, Class B | 101,036 | 2,106,383 |
Orion OYJ, Class B | 26,253 | 1,233,185 |
Stora Enso OYJ, Class R | 127,741 | 1,620,631 |
UPM-Kymmene OYJ | 58,578 | 1,868,077 |
9,982,652 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 139 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
France — 4.9% | ||
Air Liquide SA | 4,639 | 834,511 |
Arkema SA | 18,929 | 1,872,892 |
Capgemini SE | 15,537 | 2,833,286 |
Carrefour SA | 164,467 | 3,421,013 |
Covivio SA, REIT | 15,510 | 881,882 |
Danone SA (b) | 42,852 | 2,836,102 |
Eiffage SA | 28,339 | 3,373,017 |
Engie SA (b) | 103,331 | 1,653,739 |
EssilorLuxottica SA | 2,509 | 496,732 |
Gecina SA, REIT | 23,060 | 2,567,101 |
Klepierre SA, REIT (b) | 120,231 | 3,045,466 |
Orange SA | 227,618 | 2,962,657 |
Pernod Ricard SA | 14,804 | 3,418,972 |
Publicis Groupe SA | 31,317 | 2,560,387 |
TotalEnergies SE | 50,519 | 3,228,161 |
Unibail-Rodamco-Westfield, REIT * | 9,454 | 506,980 |
Vinci SA | 23,232 | 2,873,594 |
Vivendi SE (b) | 79,953 | 878,240 |
40,244,732 | ||
Germany — 2.4% | ||
Bayerische Motoren Werke AG | 11,997 | 1,344,677 |
Covestro AG * (a) | 14,824 | 650,335 |
Deutsche Telekom AG (Registered) | 140,077 | 3,377,504 |
E.ON SE | 50,428 | 667,048 |
Fresenius Medical Care AG & Co. KGaA | 35,875 | 1,740,797 |
Hannover Rueck SE | 3,573 | 763,404 |
Hella GmbH & Co. KGaA | 6,517 | 551,118 |
Infineon Technologies AG | 9,781 | 356,192 |
LEG Immobilien SE * | 13,695 | 852,421 |
Mercedes-Benz Group AG | 38,821 | 3,027,496 |
Merck KGaA | 8,794 | 1,577,369 |
SAP SE | 20,818 | 2,817,013 |
Telefonica Deutschland Holding AG | 643,737 | 2,175,171 |
19,900,545 | ||
Hong Kong — 3.1% | ||
ASMPT Ltd. | 98,500 | 774,423 |
CK Asset Holdings Ltd. | 497,000 | 2,938,824 |
CK Infrastructure Holdings Ltd. | 483,500 | 2,752,753 |
CLP Holdings Ltd. | 309,000 | 2,300,730 |
Hong Kong & China Gas Co. Ltd. | 795,393 | 706,254 |
Hutchison Port Holdings Trust | 2,996,000 | 568,348 |
MTR Corp. Ltd. | 233,000 | 1,164,190 |
New World Development Co. Ltd. | 121,750 | 324,692 |
INVESTMENTS | SHARES | VALUE($) |
Hong Kong — continued | ||
Orient Overseas International Ltd. | 101,500 | 2,062,195 |
PCCW Ltd. | 3,248,000 | 1,694,248 |
Power Assets Holdings Ltd. | 537,500 | 3,071,436 |
Sun Hung Kai Properties Ltd. | 184,000 | 2,561,886 |
Swire Pacific Ltd., Class A | 186,000 | 1,476,492 |
WH Group Ltd. (a) | 3,916,500 | 2,180,468 |
Yue Yuen Industrial Holdings Ltd. | 372,000 | 559,833 |
25,136,772 | ||
Indonesia — 0.0% ^ | ||
First Pacific Co. Ltd. | 610,000 | 204,267 |
Ireland — 0.5% | ||
CRH plc | 57,707 | 2,784,592 |
Smurfit Kappa Group plc | 25,072 | 928,896 |
3,713,488 | ||
Italy — 2.2% | ||
A2A SpA | 492,608 | 869,151 |
Assicurazioni Generali SpA | 53,606 | 1,116,512 |
Banca Mediolanum SpA | 69,250 | 626,113 |
Coca-Cola HBC AG | 112,473 | 3,433,428 |
Davide Campari-Milano NV | 12,762 | 164,470 |
Eni SpA | 81,009 | 1,223,836 |
Italgas SpA | 376,737 | 2,459,897 |
Poste Italiane SpA (a) | 176,503 | 1,836,856 |
Recordati Industria Chimica e Farmaceutica SpA | 32,178 | 1,481,231 |
Snam SpA | 79,629 | 442,552 |
Terna - Rete Elettrica Nazionale | 251,342 | 2,175,551 |
UniCredit SpA | 114,685 | 2,272,538 |
18,102,135 | ||
Japan — 30.2% | ||
Activia Properties, Inc., REIT | 266 | 775,086 |
Advance Residence Investment Corp., REIT | 278 | 721,300 |
Advantest Corp. | 5,900 | 459,798 |
Aeon Mall Co. Ltd. | 24,000 | 323,581 |
AEON REIT Investment Corp., REIT | 808 | 926,331 |
AGC, Inc. | 28,900 | 1,077,533 |
Ajinomoto Co., Inc. | 84,200 | 3,028,199 |
Alfresa Holdings Corp. | 93,200 | 1,349,488 |
Anritsu Corp. | 81,200 | 743,508 |
Aozora Bank Ltd. (b) | 32,600 | 584,811 |
Asahi Group Holdings Ltd. | 57,200 | 2,209,871 |
Astellas Pharma, Inc. | 200,200 | 3,015,926 |
Brother Industries Ltd. | 44,200 | 694,172 |
140 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Japan — continued | ||
Canon Marketing Japan, Inc. | 60,900 | 1,522,680 |
Canon, Inc. | 134,400 | 3,201,053 |
Capcom Co. Ltd. | 84,700 | 3,182,824 |
Casio Computer Co. Ltd. | 39,800 | 378,689 |
Chubu Electric Power Co., Inc. | 294,600 | 3,285,486 |
Chugai Pharmaceutical Co. Ltd. | 93,600 | 2,415,410 |
COMSYS Holdings Corp. | 85,800 | 1,641,882 |
Cosmo Energy Holdings Co. Ltd. | 100,600 | 3,216,091 |
Dai Nippon Printing Co. Ltd. | 50,400 | 1,448,804 |
Daiichi Sankyo Co. Ltd. | 22,500 | 772,079 |
Daito Trust Construction Co. Ltd. | 33,200 | 3,146,619 |
Daiwa House REIT Investment Corp., REIT | 392 | 834,046 |
Daiwa Securities Group, Inc. | 374,200 | 1,738,045 |
DIC Corp. | 11,200 | 206,902 |
Dowa Holdings Co. Ltd. | 24,600 | 803,694 |
Electric Power Development Co. Ltd. | 188,300 | 3,010,868 |
ENEOS Holdings, Inc. | 296,300 | 1,054,095 |
Fuji Media Holdings, Inc. | 18,300 | 171,557 |
FUJIFILM Holdings Corp. | 44,700 | 2,329,763 |
Fujitsu Ltd. | 19,900 | 2,652,218 |
Fukuoka Financial Group, Inc. | 24,900 | 468,994 |
H.U. Group Holdings, Inc. | 72,000 | 1,455,568 |
Hachijuni Bank Ltd. (The) | 157,600 | 706,065 |
Hikari Tsushin, Inc. | 7,000 | 955,116 |
Hoya Corp. | 1,100 | 115,341 |
Hulic Co. Ltd. | 63,300 | 545,016 |
Idemitsu Kosan Co. Ltd. | 84,937 | 1,808,567 |
Iida Group Holdings Co. Ltd. | 43,100 | 766,288 |
Inpex Corp. | 253,200 | 2,770,781 |
ITOCHU Corp. | 93,100 | 3,088,579 |
Itochu Techno-Solutions Corp. | 25,200 | 652,569 |
Iwatani Corp. | 37,900 | 1,794,292 |
Japan Metropolitan Fund Invest, REIT | 2,448 | 1,792,463 |
Japan Post Holdings Co. Ltd. | 304,600 | 2,507,444 |
Japan Post Insurance Co. Ltd. | 138,500 | 2,249,114 |
Japan Real Estate Investment Corp., REIT | 16 | 63,398 |
Japan Tobacco, Inc. | 157,400 | 3,386,758 |
Kajima Corp. | 67,300 | 890,415 |
Kaken Pharmaceutical Co. Ltd. | 15,800 | 435,056 |
Kaneka Corp. | 2,500 | 66,509 |
Kansai Electric Power Co., Inc. (The) | 327,400 | 3,534,190 |
Kawasaki Kisen Kaisha Ltd. | 52,500 | 1,251,093 |
KDDI Corp. | 103,600 | 3,234,199 |
Kinden Corp. | 43,800 | 597,200 |
INVESTMENTS | SHARES | VALUE($) |
Japan — continued | ||
Kirin Holdings Co. Ltd. | 59,500 | 966,596 |
Kobe Steel Ltd. | 213,400 | 1,590,010 |
K's Holdings Corp. | 196,400 | 1,740,738 |
Kuraray Co. Ltd. | 55,200 | 516,209 |
Kyowa Kirin Co. Ltd. | 118,700 | 2,641,241 |
Kyushu Electric Power Co., Inc. * | 251,900 | 1,466,788 |
Lawson, Inc. | 52,300 | 2,375,553 |
Lintec Corp. | 49,200 | 822,774 |
Mani, Inc. | 34,900 | 456,723 |
Marubeni Corp. | 230,500 | 3,271,532 |
Matsui Securities Co. Ltd. | 37,400 | 214,022 |
MatsukiyoCocokara & Co. | 49,400 | 2,645,363 |
Mebuki Financial Group, Inc. | 198,100 | 507,464 |
Medipal Holdings Corp. | 110,600 | 1,689,738 |
MEIJI Holdings Co. Ltd. | 122,200 | 2,948,651 |
Mitsubishi Chemical Group Corp. | 261,500 | 1,534,127 |
Mitsubishi Corp. | 46,700 | 1,731,443 |
Mitsubishi Gas Chemical Co., Inc. | 49,700 | 723,556 |
Mitsubishi HC Capital, Inc. | 413,800 | 2,147,927 |
Mitsubishi UFJ Financial Group, Inc. | 252,500 | 1,580,532 |
Mitsui & Co. Ltd. | 101,100 | 3,156,212 |
Mitsui Fudosan Co. Ltd. | 97,700 | 1,940,519 |
Mitsui Mining & Smelting Co. Ltd. | 62,900 | 1,497,828 |
Morinaga Milk Industry Co. Ltd. | 16,000 | 601,774 |
MS&AD Insurance Group Holdings, Inc. | 37,700 | 1,237,402 |
NH Foods Ltd. | 10,300 | 300,585 |
Nifco, Inc. | 9,500 | 273,225 |
Nintendo Co. Ltd. | 62,200 | 2,629,654 |
Nippon Electric Glass Co. Ltd. | 42,300 | 807,516 |
Nippon Shinyaku Co. Ltd. | 19,500 | 891,709 |
Nippon Shokubai Co. Ltd. | 13,900 | 557,274 |
Nippon Steel Corp. | 134,700 | 2,876,845 |
Nippon Telegraph & Telephone Corp. | 106,400 | 3,246,687 |
Nippon Yusen KK (b) | 92,000 | 2,174,780 |
Nisshin Seifun Group, Inc. | 45,400 | 550,314 |
Nissin Foods Holdings Co. Ltd. | 24,800 | 2,391,020 |
Niterra Co. Ltd. | 111,500 | 2,337,023 |
Nitto Denko Corp. | 37,800 | 2,443,703 |
NOF Corp. | 16,100 | 735,632 |
Nomura Real Estate Holdings, Inc. | 131,100 | 3,266,885 |
Nomura Real Estate Master Fund, Inc., REIT | 461 | 539,419 |
Obayashi Corp. | 119,800 | 998,745 |
Ono Pharmaceutical Co. Ltd. | 113,700 | 2,289,361 |
Open House Group Co. Ltd. | 56,300 | 2,250,466 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 141 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Japan — continued | ||
ORIX Corp. | 126,800 | 2,157,188 |
Osaka Gas Co. Ltd. | 183,000 | 3,027,041 |
Otsuka Holdings Co. Ltd. | 80,600 | 2,742,074 |
Resona Holdings, Inc. | 501,400 | 2,498,959 |
Rinnai Corp. | 16,800 | 406,059 |
Rohto Pharmaceutical Co. Ltd. | 26,000 | 539,424 |
Sankyo Co. Ltd. | 39,900 | 1,760,242 |
Sapporo Holdings Ltd. | 18,800 | 524,485 |
Sawai Group Holdings Co. Ltd. | 23,100 | 668,412 |
SBI Holdings, Inc. | 4,000 | 78,123 |
SCREEN Holdings Co. Ltd. | 34,900 | 2,838,740 |
SCSK Corp. | 54,700 | 825,851 |
Seiko Epson Corp. | 75,800 | 1,159,265 |
Sekisui Chemical Co. Ltd. | 54,900 | 781,362 |
Sekisui House Ltd. | 86,400 | 1,776,268 |
Sekisui House REIT, Inc., REIT (b) | 978 | 554,369 |
Shimamura Co. Ltd. | 8,700 | 798,699 |
Shionogi & Co. Ltd. | 49,000 | 2,193,463 |
Ship Healthcare Holdings, Inc. | 24,200 | 426,884 |
Skylark Holdings Co. Ltd. * (b) | 71,100 | 953,968 |
SoftBank Corp. | 276,400 | 3,111,936 |
SoftBank Group Corp. | 55,500 | 2,081,384 |
Sojitz Corp. | 155,020 | 3,264,957 |
Sugi Holdings Co. Ltd. | 23,100 | 980,014 |
SUMCO Corp. | 58,600 | 807,019 |
Sumitomo Chemical Co. Ltd. | 765,400 | 2,586,457 |
Sumitomo Mitsui Financial Group, Inc. | 61,100 | 2,497,379 |
Sumitomo Pharma Co. Ltd. | 169,000 | 1,060,244 |
Suntory Beverage & Food Ltd. | 79,400 | 2,989,045 |
Suzuken Co. Ltd. | 24,100 | 685,903 |
Taisho Pharmaceutical Holdings Co. Ltd. | 4,000 | 172,744 |
Takeda Pharmaceutical Co. Ltd. | 99,900 | 3,312,601 |
Teijin Ltd. | 88,200 | 985,101 |
TIS, Inc. | 8,000 | 219,678 |
Toho Gas Co. Ltd. | 40,700 | 761,513 |
Tohoku Electric Power Co., Inc. * | 345,300 | 1,775,373 |
Tokyo Electric Power Co. Holdings, Inc. * | 775,800 | 2,781,565 |
Tokyo Electron Ltd. | 19,800 | 2,267,209 |
Tokyo Gas Co. Ltd. | 167,800 | 3,437,053 |
Tokyo Tatemono Co. Ltd. | 143,100 | 1,812,361 |
Tokyu Fudosan Holdings Corp. | 257,700 | 1,307,775 |
Tosoh Corp. | 102,800 | 1,373,438 |
Toyo Suisan Kaisha Ltd. | 66,400 | 2,964,558 |
Toyota Boshoku Corp. | 27,800 | 440,039 |
INVESTMENTS | SHARES | VALUE($) |
Japan — continued | ||
Toyota Industries Corp. | 1,500 | 87,177 |
Trend Micro, Inc. | 33,200 | 1,622,268 |
Tsumura & Co. | 53,100 | 1,077,476 |
UBE Corp. | 86,600 | 1,373,771 |
Unicharm Corp. | 27,600 | 1,114,210 |
United Urban Investment Corp., REIT | 468 | 519,630 |
USS Co. Ltd. | 100,900 | 1,695,523 |
Yakult Honsha Co. Ltd. | 27,400 | 2,060,863 |
Yamada Holdings Co. Ltd. | 453,800 | 1,581,371 |
Yamaguchi Financial Group, Inc. | 7,700 | 47,345 |
Yamaha Motor Co. Ltd. | 119,300 | 3,093,597 |
Yokohama Rubber Co. Ltd. (The) | 70,300 | 1,528,364 |
Zeon Corp. | 32,700 | 337,393 |
246,148,199 | ||
Jordan — 0.4% | ||
Hikma Pharmaceuticals plc | 129,103 | 2,990,125 |
Luxembourg — 0.1% | ||
RTL Group SA | 25,463 | 1,193,556 |
Mexico — 0.1% | ||
Fresnillo plc | 131,221 | 1,174,321 |
Netherlands — 3.2% | ||
ASML Holding NV | 2,709 | 1,719,166 |
ASR Nederland NV | 57,882 | 2,545,804 |
BE Semiconductor Industries NV (b) | 16,715 | 1,504,579 |
Heineken Holding NV | 27,534 | 2,642,747 |
Heineken NV | 9,718 | 1,115,871 |
Koninklijke Ahold Delhaize NV | 99,102 | 3,407,589 |
Koninklijke KPN NV | 915,955 | 3,340,382 |
NN Group NV | 69,238 | 2,581,910 |
OCI NV | 19,650 | 517,784 |
Shell plc | 92,116 | 2,830,556 |
Wolters Kluwer NV | 26,885 | 3,562,092 |
25,768,480 | ||
New Zealand — 0.6% | ||
Fisher & Paykel Healthcare Corp. Ltd. | 142,798 | 2,449,402 |
Spark New Zealand Ltd. | 725,255 | 2,349,937 |
4,799,339 | ||
Norway — 1.0% | ||
Aker BP ASA | 15,540 | 371,496 |
DNB Bank ASA (b) | 38,808 | 682,636 |
Equinor ASA | 80,236 | 2,310,077 |
Mowi ASA | 49,165 | 938,033 |
142 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Norway — continued | ||
Norsk Hydro ASA | 234,740 | 1,727,467 |
Orkla ASA | 156,128 | 1,122,215 |
Salmar ASA | 8,574 | 380,930 |
Telenor ASA (b) | 77,545 | 967,618 |
8,500,472 | ||
Portugal — 0.3% | ||
Jeronimo Martins SGPS SA | 107,735 | 2,718,717 |
Russia — 0.0% ^ | ||
Evraz plc ‡ * | 393,430 | 20,243 |
Singapore — 3.4% | ||
CapitaLand Ascendas, REIT | 755,542 | 1,625,870 |
CapitaLand Integrated Commercial Trust, REIT | 2,024,208 | 3,090,842 |
City Developments Ltd. | 63,500 | 332,187 |
ComfortDelGro Corp. Ltd. | 469,200 | 420,015 |
DBS Group Holdings Ltd. | 119,900 | 2,962,725 |
Jardine Cycle & Carriage Ltd. | 45,000 | 1,146,093 |
Keppel Corp. Ltd. | 450,800 | 2,093,238 |
Mapletree Pan Asia Commercial Trust, REIT | 389,500 | 515,951 |
Oversea-Chinese Banking Corp. Ltd. | 251,400 | 2,378,468 |
Sembcorp Industries Ltd. | 1,145,500 | 3,685,817 |
Singapore Airlines Ltd. | 138,200 | 607,843 |
Singapore Telecommunications Ltd. | 1,326,200 | 2,541,467 |
STMicroelectronics NV | 27,413 | 1,172,648 |
Suntec, REIT | 2,168,800 | 2,198,480 |
Venture Corp. Ltd. | 208,400 | 2,662,469 |
27,434,113 | ||
South Africa — 0.3% | ||
Anglo American plc | 72,745 | 2,241,578 |
South Korea — 6.4% | ||
Daewoo Engineering & Construction Co. Ltd. * | 133,310 | 421,553 |
DL Holdings Co. Ltd. | 11,795 | 437,045 |
E-MART, Inc. | 5,268 | 385,288 |
F&F Co. Ltd. | 7,399 | 782,888 |
GS Engineering & Construction Corp. | 64,643 | 1,049,010 |
GS Holdings Corp. | 11,695 | 347,477 |
GS Retail Co. Ltd. | 37,011 | 737,236 |
Hana Financial Group, Inc. | 85,026 | 2,671,828 |
Hanwha Corp. | 24,601 | 499,620 |
Hanwha Life Insurance Co. Ltd. * | 201,796 | 374,949 |
Hite Jinro Co. Ltd. | 34,242 | 570,908 |
Hyundai Department Store Co. Ltd. | 3,940 | 152,556 |
Hyundai Mobis Co. Ltd. | 5,578 | 908,435 |
INVESTMENTS | SHARES | VALUE($) |
South Korea — continued | ||
Industrial Bank of Korea | 198,452 | 1,494,496 |
KB Financial Group, Inc. | 72,867 | 2,704,548 |
Kia Corp. | 44,603 | 2,824,856 |
Korea Electric Power Corp. * | 40,771 | 569,221 |
Korea Gas Corp. * | 59,204 | 1,187,810 |
Korea Investment Holdings Co. Ltd. | 5,853 | 241,897 |
Korean Air Lines Co. Ltd. | 51,290 | 879,812 |
KT&G Corp. | 46,424 | 2,974,917 |
LG Corp. | 40,988 | 2,682,729 |
LG Innotek Co. Ltd. | 11,129 | 2,215,015 |
LG Uplus Corp. | 132,303 | 1,091,284 |
Mirae Asset Securities Co. Ltd. | 39,841 | 207,011 |
NAVER Corp. | 9,628 | 1,394,860 |
NH Investment & Securities Co. Ltd. | 58,917 | 412,499 |
NongShim Co. Ltd. | 1,807 | 535,371 |
Orion Corp. | 18,872 | 2,046,022 |
POSCO Holdings, Inc. | 9,088 | 2,571,947 |
Samsung Electronics Co. Ltd. | 59,995 | 2,952,000 |
Samsung Engineering Co. Ltd. * | 48,206 | 1,052,196 |
Samsung Fire & Marine Insurance Co. Ltd. | 3,949 | 664,325 |
Samsung Securities Co. Ltd. | 31,820 | 807,743 |
SK Hynix, Inc. | 46,133 | 3,103,989 |
SK Square Co. Ltd. * | 25,946 | 826,880 |
SK Telecom Co. Ltd. | 52,833 | 1,882,627 |
Woori Financial Group, Inc. | 311,477 | 2,739,519 |
Yuhan Corp. | 68,257 | 2,943,209 |
52,345,576 | ||
Spain — 2.5% | ||
Acciona SA * | 11,406 | 2,113,405 |
Corp. ACCIONA Energias Renovables SA * | 10,131 | 363,775 |
Enagas SA | 81,298 | 1,627,642 |
Endesa SA | 148,229 | 3,325,180 |
Iberdrola SA | 278,012 | 3,602,508 |
Merlin Properties Socimi SA, REIT | 100,230 | 886,214 |
Naturgy Energy Group SA | 104,524 | 3,254,489 |
Red Electrica Corp. SA | 98,543 | 1,791,643 |
Repsol SA | 109,714 | 1,611,666 |
Telefonica SA | 306,341 | 1,391,459 |
19,967,981 | ||
Sweden — 2.4% | ||
Boliden AB * (b) | 72,778 | 2,600,860 |
Castellum AB (b) | 124,176 | 1,509,497 |
Getinge AB, Class B | 38,712 | 982,545 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 143 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Sweden — continued | ||
H & M Hennes & Mauritz AB, Class B (b) | 75,655 | 1,109,162 |
Hexagon AB, Class B | 215,470 | 2,467,069 |
Investor AB, Class B | 37,164 | 798,400 |
Sagax AB, Class B | 44,089 | 1,081,449 |
Securitas AB, Class B | 227,249 | 2,036,900 |
Skanska AB, Class B | 66,245 | 1,083,534 |
Tele2 AB, Class B | 255,655 | 2,716,632 |
Telia Co. AB | 343,367 | 955,992 |
Trelleborg AB, Class B | 71,826 | 1,804,852 |
19,146,892 | ||
Switzerland — 1.5% | ||
Kuehne + Nagel International AG (Registered) (b) | 3,849 | 1,140,290 |
Novartis AG (Registered) | 34,181 | 3,496,508 |
Sonova Holding AG (Registered) | 8,587 | 2,723,164 |
Swiss Prime Site AG (Registered) | 13,013 | 1,177,932 |
Swisscom AG (Registered) | 5,070 | 3,480,812 |
12,018,706 | ||
United Kingdom — 15.8% | ||
3i Group plc | 161,657 | 3,596,712 |
abrdn plc | 461,304 | 1,236,170 |
Admiral Group plc | 44,648 | 1,297,655 |
Ashtead Group plc | 3,957 | 228,145 |
Associated British Foods plc | 113,288 | 2,791,254 |
AstraZeneca plc | 24,446 | 3,597,546 |
Auto Trader Group plc (a) | 330,863 | 2,645,903 |
Aviva plc | 457,505 | 2,435,912 |
B&M European Value Retail SA | 341,967 | 2,064,438 |
BAE Systems plc | 290,590 | 3,702,112 |
Barratt Developments plc | 74,996 | 471,831 |
BP plc | 284,520 | 1,908,843 |
British American Tobacco plc | 82,589 | 3,051,316 |
British Land Co. plc (The), REIT | 498,336 | 2,510,738 |
BT Group plc | 1,538,891 | 3,073,614 |
Bunzl plc | 66,318 | 2,639,926 |
Burberry Group plc | 67,768 | 2,212,082 |
Centrica plc | 2,525,890 | 3,629,581 |
CK Hutchison Holdings Ltd. | 154,042 | 1,029,837 |
ConvaTec Group plc (a) | 989,335 | 2,735,089 |
Croda International plc | 21,146 | 1,857,876 |
Dechra Pharmaceuticals plc | 989 | 46,425 |
Derwent London plc, REIT | 69,058 | 2,084,866 |
Diageo plc | 67,687 | 3,087,618 |
Direct Line Insurance Group plc | 645,030 | 1,394,198 |
INVESTMENTS | SHARES | VALUE($) |
United Kingdom — continued | ||
DS Smith plc | 188,092 | 734,361 |
HSBC Holdings plc | 431,018 | 3,106,497 |
IMI plc | 105,077 | 2,108,249 |
Imperial Brands plc | 131,625 | 3,258,258 |
Informa plc | 234,245 | 2,129,540 |
InterContinental Hotels Group plc | 25,338 | 1,742,157 |
Intertek Group plc | 22,120 | 1,157,190 |
J Sainsbury plc | 873,241 | 3,034,517 |
Johnson Matthey plc | 63,467 | 1,567,868 |
Land Securities Group plc, REIT | 312,473 | 2,651,594 |
Legal & General Group plc | 978,635 | 2,887,485 |
M&G plc | 371,423 | 959,957 |
National Grid plc | 41,834 | 599,813 |
NatWest Group plc | 606,256 | 1,997,067 |
Next plc | 31,534 | 2,675,559 |
Pearson plc | 275,043 | 3,060,070 |
Phoenix Group Holdings plc | 201,655 | 1,502,441 |
Rentokil Initial plc | 126,437 | 1,006,597 |
Rightmove plc | 430,743 | 3,117,750 |
Sage Group plc (The) | 255,720 | 2,637,224 |
Segro plc, REIT | 79,591 | 837,929 |
Severn Trent plc | 56,263 | 2,072,368 |
Smith & Nephew plc | 79,835 | 1,314,864 |
Smiths Group plc | 148,472 | 3,139,389 |
SSE plc | 152,203 | 3,511,805 |
St. James's Place plc | 8,929 | 135,793 |
Standard Chartered plc | 137,548 | 1,089,811 |
Tate & Lyle plc | 266,332 | 2,730,928 |
Taylor Wimpey plc | 284,325 | 458,863 |
Tesco plc | 949,169 | 3,355,742 |
Unilever plc | 58,128 | 3,236,691 |
UNITE Group plc (The), REIT | 62,959 | 759,681 |
United Utilities Group plc | 259,169 | 3,520,675 |
Vodafone Group plc | 2,099,109 | 2,521,295 |
WPP plc | 235,639 | 2,746,236 |
128,695,951 | ||
United States — 2.4% | ||
CSL Ltd. | 14,891 | 2,972,791 |
Ferguson plc | 21,625 | 3,055,570 |
GSK plc | 182,700 | 3,294,659 |
Haleon plc | 799,069 | 3,513,266 |
Roche Holding AG | 8,813 | 2,759,705 |
Sanofi | 12,103 | 1,304,319 |
144 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
United States — continued | ||
Schneider Electric SE | 7,551 | 1,316,833 |
Sims Ltd. | 136,234 | 1,427,698 |
19,644,841 | ||
Total Common Stocks (Cost $797,656,875) | 807,673,422 | |
Short-Term Investments — 1.8% | ||
Investment Companies — 0.1% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 4.95% (c) (d)(Cost $569,151) | 568,980 | 569,151 |
Investment of Cash Collateral from Securities Loaned — 1.7% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.01% (c) (d) | 12,256,626 | 12,257,852 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (c) (d) | 1,627,904 | 1,627,904 |
Total Investment of Cash Collateral from Securities Loaned (Cost $13,887,359) | 13,885,756 | |
Total Short-Term Investments (Cost $14,456,510) | 14,454,907 | |
Total Investments — 100.9% (Cost $812,113,385) | 822,128,329 | |
Liabilities in Excess of Other Assets — (0.9)% | (7,156,336 ) | |
NET ASSETS — 100.0% | 814,971,993 |
Percentages indicated are based on net assets. |
Abbreviations | |
APAC | Asia Pacific |
OYJ | Public Limited Company |
REIT | Real Estate Investment Trust |
SGPS | Holding company |
^ | Amount rounds to less than 0.1% of net assets. | |
‡ | Value determined using significant unobservable inputs. | |
* | Non-income producing security. | |
(a) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. | |
(b) | The security or a portion of this security is on loan at April 30, 2023. The total value of securities on loan at April 30, 2023 is $13,213,390. |
(c) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(d) | The rate shown is the current yield as of April 30, 2023. |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 145 |
AS OF April 30, 2023 (Unaudited) (continued)
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Pharmaceuticals | 6.3 % |
Electric Utilities | 5.0 |
Diversified Telecommunication Services | 4.8 |
Metals & Mining | 4.6 |
Oil, Gas & Consumable Fuels | 4.4 |
Food Products | 4.2 |
Banks | 4.1 |
Consumer Staples Distribution & Retail | 3.9 |
Beverages | 3.5 |
Chemicals | 3.1 |
Insurance | 3.1 |
Real Estate Management & Development | 3.0 |
Trading Companies & Distributors | 2.5 |
Gas Utilities | 2.3 |
Diversified REITs | 1.9 |
Semiconductors & Semiconductor Equipment | 1.9 |
Health Care Equipment & Supplies | 1.9 |
Wireless Telecommunication Services | 1.9 |
Multi-Utilities | 1.7 |
Construction & Engineering | 1.7 |
Technology Hardware, Storage & Peripherals | 1.7 |
Health Care Providers & Services | 1.6 |
Tobacco | 1.5 |
Industrial Conglomerates | 1.4 |
Retail REITs | 1.4 |
Software | 1.3 |
Electronic Equipment, Instruments & Components | 1.3 |
Automobiles | 1.2 |
Media | 1.2 |
Specialty Retail | 1.2 |
Broadline Retail | 1.1 |
Capital Markets | 1.1 |
Hotels, Restaurants & Leisure | 1.0 |
Office REITs | 1.0 |
Others (each less than 1.0%) | 14.4 |
Short-Term Investments | 1.8 |
146 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
MSCI EAFE E-Mini Index | 50 | 06/16/2023 | USD | 5,375,500 | 242,489 |
Abbreviations | |
EAFE | Europe, Australasia and Far East |
MSCI | Morgan Stanley Capital International |
USD | United States Dollar |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 147 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — 99.8% | ||
Aerospace & Defense — 0.8% | ||
General Dynamics Corp. | 8,191 | 1,788,423 |
L3Harris Technologies, Inc. | 1,632 | 318,485 |
Lockheed Martin Corp. | 4,240 | 1,969,268 |
4,076,176 | ||
Automobiles & Parts — 0.6% | ||
Ford Motor Co. | 108,235 | 1,285,832 |
Gentex Corp. | 57,307 | 1,581,100 |
2,866,932 | ||
Banks — 1.6% | ||
Bank of America Corp. | 40,069 | 1,173,220 |
Bank of Hawaii Corp. | 3,884 | 188,102 |
Citizens Financial Group, Inc. | 9,345 | 289,134 |
Discover Financial Services | 8,910 | 921,918 |
Fifth Third Bancorp | 41,799 | 1,095,134 |
Huntington Bancshares, Inc. | 108,515 | 1,215,368 |
KeyCorp | 20,170 | 227,114 |
Popular, Inc. (Puerto Rico) (a) | 13,454 | 807,374 |
Regions Financial Corp. | 23,207 | 423,760 |
Truist Financial Corp. | 29,332 | 955,637 |
US Bancorp | 13,536 | 464,014 |
7,760,775 | ||
Beverages — 2.9% | ||
Brown-Forman Corp., Class B | 22,379 | 1,456,649 |
Coca-Cola Co. (The) | 34,470 | 2,211,251 |
Constellation Brands, Inc., Class A | 9,053 | 2,077,392 |
Keurig Dr Pepper, Inc. | 54,089 | 1,768,710 |
Molson Coors Beverage Co., Class B | 38,319 | 2,279,214 |
Monster Beverage Corp. * | 40,183 | 2,250,248 |
PepsiCo, Inc. | 11,834 | 2,258,992 |
14,302,456 | ||
Chemicals — 4.2% | ||
Ashland, Inc. | 17,845 | 1,813,230 |
Celanese Corp. | 11,750 | 1,248,320 |
CF Industries Holdings, Inc. | 23,456 | 1,678,981 |
Chemours Co. (The) | 47,761 | 1,388,412 |
Dow, Inc. | 34,676 | 1,886,374 |
Eastman Chemical Co. | 16,709 | 1,408,067 |
Element Solutions, Inc. | 70,990 | 1,288,469 |
FMC Corp. | 8,670 | 1,071,439 |
Huntsman Corp. | 66,464 | 1,780,571 |
LyondellBasell Industries NV, Class A | 20,792 | 1,967,131 |
Mosaic Co. (The) | 35,544 | 1,523,060 |
INVESTMENTS | SHARES | VALUE ($) |
Chemicals — continued | ||
NewMarket Corp. | 1,092 | 436,363 |
Olin Corp. | 33,575 | 1,860,055 |
Westlake Corp. | 16,225 | 1,846,081 |
21,196,553 | ||
Construction & Materials — 1.7% | ||
A O Smith Corp. (a) | 25,227 | 1,722,752 |
Carrier Global Corp. | 8,032 | 335,898 |
Eagle Materials, Inc. | 4,164 | 617,146 |
Fortune Brands Innovations, Inc. | 8,739 | 565,326 |
Louisiana-Pacific Corp. | 29,629 | 1,770,037 |
Masco Corp. | 25,571 | 1,368,304 |
Masterbrand, Inc. * | 11,096 | 89,545 |
Quanta Services, Inc. | 12,394 | 2,102,518 |
8,571,526 | ||
Consumer Services — 0.6% | ||
Grand Canyon Education, Inc. * | 3,121 | 370,463 |
H&R Block, Inc. (a) | 48,734 | 1,652,570 |
Service Corp. International | 13,082 | 918,225 |
2,941,258 | ||
Electricity — 7.9% | ||
AES Corp. (The) | 32,804 | 776,143 |
Alliant Energy Corp. | 10,011 | 552,007 |
American Electric Power Co., Inc. | 23,004 | 2,126,030 |
Avangrid, Inc. (a) | 24,489 | 985,927 |
CMS Energy Corp. | 1,293 | 80,502 |
Consolidated Edison, Inc. | 22,586 | 2,224,043 |
Constellation Energy Corp. | 19,202 | 1,486,235 |
DTE Energy Co. | 15,507 | 1,743,142 |
Edison International | 30,437 | 2,240,163 |
Entergy Corp. | 19,235 | 2,069,301 |
Evergy, Inc. | 34,432 | 2,138,571 |
Exelon Corp. | 49,562 | 2,103,411 |
FirstEnergy Corp. | 51,200 | 2,037,760 |
Hawaiian Electric Industries, Inc. | 26,572 | 1,041,888 |
IDACORP, Inc. | 15,275 | 1,697,358 |
NRG Energy, Inc. | 48,010 | 1,640,502 |
OGE Energy Corp. | 52,224 | 1,960,489 |
PG&E Corp. * | 125,359 | 2,144,892 |
Pinnacle West Capital Corp. | 26,817 | 2,104,062 |
PPL Corp. | 73,786 | 2,119,134 |
Southern Co. (The) | 31,616 | 2,325,357 |
148 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Electricity — continued | ||
Vistra Corp. | 83,189 | 1,984,890 |
Xcel Energy, Inc. | 30,592 | 2,138,687 |
39,720,494 | ||
Electronic & Electrical Equipment — 0.8% | ||
AMETEK, Inc. | 8,170 | 1,126,888 |
Emerson Electric Co. | 7,782 | 647,929 |
Hubbell, Inc. | 4,789 | 1,289,774 |
IDEX Corp. | 3,953 | 815,583 |
3,880,174 | ||
Finance & Credit Services — 0.4% | ||
Ally Financial, Inc. | 42,688 | 1,126,109 |
FactSet Research Systems, Inc. | 620 | 255,248 |
OneMain Holdings, Inc. (a) | 12,633 | 484,728 |
1,866,085 | ||
Food Producers — 7.1% | ||
Archer-Daniels-Midland Co. | 24,932 | 1,946,691 |
Bunge Ltd. | 19,291 | 1,805,638 |
Campbell Soup Co. | 39,094 | 2,122,804 |
Conagra Brands, Inc. | 57,185 | 2,170,743 |
Corteva, Inc. | 31,727 | 1,939,154 |
Darling Ingredients, Inc. * | 23,972 | 1,428,012 |
Flowers Foods, Inc. | 72,255 | 1,987,735 |
General Mills, Inc. | 25,742 | 2,281,513 |
Hershey Co. (The) | 8,600 | 2,348,316 |
Hormel Foods Corp. | 48,595 | 1,965,182 |
Ingredion, Inc. | 17,917 | 1,902,248 |
J M Smucker Co. (The) | 13,403 | 2,069,557 |
Kellogg Co. | 30,930 | 2,157,986 |
Kraft Heinz Co. (The) | 51,789 | 2,033,754 |
Lamb Weston Holdings, Inc. | 20,091 | 2,246,375 |
Mondelez International, Inc., Class A | 31,213 | 2,394,661 |
Pilgrim's Pride Corp. * | 21,568 | 491,966 |
Post Holdings, Inc. * | 22,000 | 1,990,780 |
35,283,115 | ||
Gas, Water & Multi-utilities — 3.4% | ||
Ameren Corp. | 21,482 | 1,911,253 |
Atmos Energy Corp. | 13,450 | 1,535,183 |
CenterPoint Energy, Inc. | 66,827 | 2,036,219 |
Duke Energy Corp. | 18,665 | 1,845,595 |
National Fuel Gas Co. | 30,051 | 1,679,851 |
NiSource, Inc. | 74,028 | 2,106,837 |
Sempra Energy | 12,512 | 1,945,491 |
INVESTMENTS | SHARES | VALUE ($) |
Gas, Water & Multi-utilities — continued | ||
UGI Corp. | 53,558 | 1,814,545 |
WEC Energy Group, Inc. | 22,865 | 2,198,927 |
17,073,901 | ||
General Industrials — 2.0% | ||
Carlisle Cos., Inc. | 2,279 | 491,922 |
Eaton Corp. plc | 11,395 | 1,904,332 |
Honeywell International, Inc. | 4,971 | 993,405 |
Illinois Tool Works, Inc. | 7,606 | 1,840,196 |
ITT, Inc. | 9,780 | 825,823 |
Packaging Corp. of America | 7,810 | 1,056,381 |
Parker-Hannifin Corp. | 3,533 | 1,147,801 |
RPM International, Inc. | 19,643 | 1,611,315 |
Sonoco Products Co. | 1,058 | 64,136 |
9,935,311 | ||
Health Care Providers — 2.7% | ||
Chemed Corp. | 1,651 | 910,114 |
Cigna Group (The) | 6,495 | 1,645,118 |
DaVita, Inc. * | 14,305 | 1,292,600 |
Elevance Health, Inc. | 3,938 | 1,845,544 |
HCA Healthcare, Inc. | 8,040 | 2,310,133 |
Humana, Inc. | 749 | 397,337 |
IQVIA Holdings, Inc. * | 3,742 | 704,357 |
Molina Healthcare, Inc. * | 2,540 | 756,640 |
UnitedHealth Group, Inc. | 3,872 | 1,905,372 |
Universal Health Services, Inc., Class B | 11,279 | 1,695,798 |
13,463,013 | ||
Household Goods & Home Construction — 1.1% | ||
Leggett & Platt, Inc. (a) | 16,877 | 545,296 |
Lennar Corp., Class A | 19,674 | 2,219,424 |
NVR, Inc. * | 164 | 957,760 |
PulteGroup, Inc. | 968 | 65,001 |
Toll Brothers, Inc. | 5,282 | 337,573 |
Whirlpool Corp. | 8,678 | 1,211,362 |
5,336,416 | ||
Industrial Engineering — 0.6% | ||
Caterpillar, Inc. | 4,532 | 991,602 |
Cummins, Inc. | 7,287 | 1,712,737 |
Otis Worldwide Corp. | 4,528 | 386,238 |
3,090,577 | ||
Industrial Materials — 0.2% | ||
International Paper Co. | 35,955 | 1,190,470 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 149 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Industrial Metals & Mining — 2.5% | ||
Cleveland-Cliffs, Inc. * | 82,693 | 1,271,818 |
Freeport-McMoRan, Inc. | 46,260 | 1,753,717 |
Nucor Corp. | 11,338 | 1,680,065 |
Reliance Steel & Aluminum Co. | 7,672 | 1,901,122 |
Southern Copper Corp. (Mexico) | 23,621 | 1,814,801 |
Steel Dynamics, Inc. | 14,859 | 1,544,593 |
Timken Co. (The) | 10,774 | 827,982 |
United States Steel Corp. | 64,431 | 1,474,181 |
12,268,279 | ||
Industrial Support Services — 2.1% | ||
Accenture plc, Class A | 6,214 | 1,741,722 |
Booz Allen Hamilton Holding Corp. | 12,711 | 1,216,697 |
Capital One Financial Corp. | 15,140 | 1,473,122 |
MSC Industrial Direct Co., Inc., Class A | 8,153 | 739,722 |
Robert Half International, Inc. | 18,277 | 1,334,221 |
Synchrony Financial | 49,853 | 1,471,162 |
Western Union Co. (The) | 64,103 | 700,646 |
WW Grainger, Inc. | 2,899 | 2,016,457 |
10,693,749 | ||
Industrial Transportation — 1.3% | ||
Allison Transmission Holdings, Inc. | 13,681 | 667,496 |
CSX Corp. | 22,578 | 691,790 |
Norfolk Southern Corp. | 4,163 | 845,214 |
PACCAR, Inc. | 3,415 | 255,066 |
Ryder System, Inc. | 6,175 | 488,813 |
Schneider National, Inc., Class B | 8,685 | 227,287 |
Union Pacific Corp. | 6,842 | 1,338,979 |
United Parcel Service, Inc., Class B | 10,383 | 1,866,967 |
6,381,612 | ||
Investment Banking & Brokerage Services — 1.4% | ||
Ameriprise Financial, Inc. | 3,138 | 957,467 |
Jefferies Financial Group, Inc. | 24,661 | 789,892 |
Morgan Stanley | 20,592 | 1,852,662 |
Nasdaq, Inc. | 11,422 | 632,436 |
Raymond James Financial, Inc. | 7,164 | 648,557 |
State Street Corp. | 22,362 | 1,615,878 |
Virtu Financial, Inc., Class A | 33,301 | 667,685 |
7,164,577 | ||
Leisure Goods — 0.7% | ||
Activision Blizzard, Inc. * | 15,565 | 1,209,556 |
Electronic Arts, Inc. | 6,570 | 836,230 |
INVESTMENTS | SHARES | VALUE ($) |
Leisure Goods — continued | ||
Garmin Ltd. | 12,463 | 1,223,493 |
Harley-Davidson, Inc. | 5,092 | 188,913 |
3,458,192 | ||
Life Insurance — 1.2% | ||
Aflac, Inc. | 21,703 | 1,515,955 |
Globe Life, Inc. | 5,185 | 562,676 |
MetLife, Inc. | 8,429 | 516,951 |
Principal Financial Group, Inc. | 19,609 | 1,464,596 |
Prudential Financial, Inc. | 4,498 | 391,326 |
Unum Group | 39,140 | 1,651,708 |
6,103,212 | ||
Media — 0.8% | ||
Interpublic Group of Cos., Inc. (The) | 51,852 | 1,852,672 |
Nexstar Media Group, Inc. | 11,047 | 1,916,102 |
3,768,774 | ||
Medical Equipment & Services — 4.1% | ||
Abbott Laboratories | 16,794 | 1,855,233 |
Becton Dickinson & Co. | 5,134 | 1,356,968 |
Bio-Techne Corp. | 4,305 | 343,883 |
Danaher Corp. | 7,084 | 1,678,270 |
Hologic, Inc. * | 21,086 | 1,813,607 |
Laboratory Corp. of America Holdings | 7,273 | 1,648,862 |
Medtronic plc | 16,695 | 1,518,410 |
PerkinElmer, Inc. | 10,803 | 1,409,684 |
Quest Diagnostics, Inc. | 12,914 | 1,792,592 |
QuidelOrtho Corp. * | 8,543 | 768,443 |
STERIS plc | 7,039 | 1,327,203 |
Stryker Corp. | 4,661 | 1,396,669 |
Thermo Fisher Scientific, Inc. | 3,437 | 1,907,191 |
West Pharmaceutical Services, Inc. | 4,848 | 1,751,292 |
20,568,307 | ||
Mortgage Real Estate Investment Trusts — 0.4% | ||
Rithm Capital Corp. | 86,205 | 703,433 |
Starwood Property Trust, Inc. (a) | 59,770 | 1,069,285 |
1,772,718 | ||
Non-life Insurance — 2.6% | ||
Allstate Corp. (The) | 6,038 | 698,959 |
American Financial Group, Inc. | 5,976 | 733,434 |
Aon plc, Class A | 6,550 | 2,129,929 |
Chubb Ltd. | 5,767 | 1,162,396 |
Fidelity National Financial, Inc. | 33,531 | 1,190,015 |
Hanover Insurance Group, Inc. (The) | 3,210 | 383,788 |
150 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Non-life Insurance — continued | ||
Hartford Financial Services Group, Inc. (The) | 26,084 | 1,851,703 |
Marsh & McLennan Cos., Inc. | 9,630 | 1,735,230 |
Old Republic International Corp. | 14,011 | 354,058 |
Progressive Corp. (The) | 13,899 | 1,895,824 |
WR Berkley Corp. | 18,306 | 1,078,590 |
13,213,926 | ||
Non-Renewable Energy — 4.9% | ||
Antero Midstream Corp. | 160,191 | 1,723,655 |
Chevron Corp. | 8,811 | 1,485,358 |
Coterra Energy, Inc. | 76,727 | 1,964,211 |
Devon Energy Corp. | 27,167 | 1,451,533 |
DT Midstream, Inc. | 7,263 | 357,848 |
EOG Resources, Inc. | 13,717 | 1,638,770 |
EQT Corp. | 58,835 | 2,049,812 |
Exxon Mobil Corp. | 17,915 | 2,120,061 |
HF Sinclair Corp. | 34,027 | 1,500,931 |
Marathon Oil Corp. | 64,752 | 1,564,408 |
Marathon Petroleum Corp. | 15,138 | 1,846,836 |
Occidental Petroleum Corp. | 10,539 | 648,465 |
Pioneer Natural Resources Co. | 7,362 | 1,601,603 |
Targa Resources Corp. | 25,512 | 1,926,921 |
Texas Pacific Land Corp. | 617 | 911,710 |
Valero Energy Corp. | 14,316 | 1,641,616 |
Vitesse Energy, Inc. (a) | 2,963 | 54,519 |
Williams Cos., Inc. (The) | 2,476 | 74,924 |
24,563,181 | ||
Personal Care, Drug & Grocery Stores — 4.6% | ||
Albertsons Cos., Inc., Class A | 100,647 | 2,103,522 |
AmerisourceBergen Corp. | 13,122 | 2,189,406 |
Casey's General Stores, Inc. | 9,613 | 2,199,647 |
Clorox Co. (The) | 13,151 | 2,178,069 |
Colgate-Palmolive Co. | 26,771 | 2,136,326 |
CVS Health Corp. | 21,048 | 1,543,029 |
Kimberly-Clark Corp. | 16,204 | 2,347,798 |
Kroger Co. (The) | 41,534 | 2,019,798 |
McKesson Corp. | 5,847 | 2,129,711 |
Olaplex Holdings, Inc. * | 17,317 | 64,073 |
Procter & Gamble Co. (The) | 13,877 | 2,170,085 |
Spectrum Brands Holdings, Inc. | 1,115 | 74,147 |
Walgreens Boots Alliance, Inc. | 49,617 | 1,748,999 |
22,904,610 | ||
Personal Goods — 0.5% | ||
Carter's, Inc. (a) | 3,083 | 215,101 |
INVESTMENTS | SHARES | VALUE ($) |
Personal Goods — continued | ||
Estee Lauder Cos., Inc. (The), Class A | 6,538 | 1,613,055 |
NIKE, Inc., Class B | 4,945 | 626,631 |
2,454,787 | ||
Pharmaceuticals, Biotechnology & Marijuana Producers — 5.7% | ||
AbbVie, Inc. | 12,943 | 1,955,946 |
Amgen, Inc. | 7,246 | 1,737,156 |
Bristol-Myers Squibb Co. | 26,091 | 1,742,096 |
Cardinal Health, Inc. | 26,633 | 2,186,569 |
Eli Lilly & Co. | 5,580 | 2,208,899 |
Gilead Sciences, Inc. | 23,749 | 1,952,405 |
Incyte Corp. * | 17,408 | 1,295,329 |
Johnson & Johnson | 11,925 | 1,952,122 |
Merck & Co., Inc. | 19,248 | 2,222,567 |
Moderna, Inc. * | 7,598 | 1,009,698 |
Pfizer, Inc. | 41,586 | 1,617,280 |
Regeneron Pharmaceuticals, Inc. * | 2,563 | 2,054,988 |
United Therapeutics Corp. * | 7,389 | 1,700,431 |
Vertex Pharmaceuticals, Inc. * | 6,715 | 2,288,002 |
Viatris, Inc. | 107,883 | 1,006,548 |
Zoetis, Inc. | 9,569 | 1,682,039 |
28,612,075 | ||
Precious Metals & Mining — 0.2% | ||
Newmont Corp. | 26,087 | 1,236,524 |
Real Estate Investment & Services — 0.6% | ||
CBRE Group, Inc., Class A * | 20,483 | 1,570,227 |
Jones Lang LaSalle, Inc. * | 9,402 | 1,307,254 |
2,877,481 | ||
Real Estate Investment Trusts — 7.5% | ||
American Tower Corp. | 4,731 | 966,969 |
Brixmor Property Group, Inc. | 57,646 | 1,229,589 |
Camden Property Trust | 9,927 | 1,092,466 |
Crown Castle, Inc. | 9,380 | 1,154,584 |
CubeSmart | 17,266 | 785,430 |
Extra Space Storage, Inc. (a) | 9,870 | 1,500,635 |
First Industrial Realty Trust, Inc. | 10,126 | 531,311 |
Gaming and Leisure Properties, Inc. | 36,977 | 1,922,804 |
Host Hotels & Resorts, Inc. | 108,656 | 1,756,968 |
Iron Mountain, Inc. | 36,961 | 2,041,726 |
Kimco Realty Corp. | 72,841 | 1,397,819 |
Lamar Advertising Co., Class A | 19,008 | 2,008,766 |
Life Storage, Inc. | 10,981 | 1,475,627 |
Mid-America Apartment Communities, Inc. | 8,893 | 1,367,743 |
National Retail Properties, Inc. | 15,252 | 663,462 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 151 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Real Estate Investment Trusts — continued | ||
Omega Healthcare Investors, Inc. (a) | 67,352 | 1,802,340 |
Prologis, Inc. | 15,949 | 1,997,612 |
Public Storage | 6,635 | 1,956,197 |
Rayonier, Inc. | 4,773 | 149,681 |
Regency Centers Corp. | 10,311 | 633,405 |
Simon Property Group, Inc. | 14,482 | 1,641,100 |
Spirit Realty Capital, Inc. | 25,635 | 985,922 |
Ventas, Inc. | 26,347 | 1,265,973 |
VICI Properties, Inc. | 59,264 | 2,011,420 |
Welltower, Inc. | 20,693 | 1,639,300 |
Weyerhaeuser Co. | 63,108 | 1,887,560 |
WP Carey, Inc. | 24,539 | 1,820,794 |
37,687,203 | ||
Retailers — 3.5% | ||
AutoZone, Inc. * | 750 | 1,997,482 |
Best Buy Co., Inc. | 15,888 | 1,183,974 |
Dick's Sporting Goods, Inc. | 15,516 | 2,249,975 |
Kohl's Corp. (a) | 2,424 | 53,401 |
Lowe's Cos., Inc. | 9,158 | 1,903,307 |
Macy's, Inc. | 80,345 | 1,312,837 |
O'Reilly Automotive, Inc. * | 2,383 | 2,185,950 |
Penske Automotive Group, Inc. (a) | 12,677 | 1,756,779 |
Target Corp. | 8,134 | 1,283,138 |
Tractor Supply Co. | 8,904 | 2,122,714 |
Williams-Sonoma, Inc. | 11,703 | 1,416,531 |
17,466,088 | ||
Software & Computer Services — 4.4% | ||
Alphabet, Inc., Class A * | 3,083 | 330,929 |
Amdocs Ltd. | 16,348 | 1,491,755 |
CACI International, Inc., Class A * | 1,777 | 556,770 |
Cadence Design Systems, Inc. * | 10,435 | 2,185,611 |
Cognizant Technology Solutions Corp., Class A | 28,660 | 1,711,289 |
Concentrix Corp. | 378 | 36,481 |
Dolby Laboratories, Inc., Class A | 4,871 | 407,654 |
Gartner, Inc. * | 3,760 | 1,137,250 |
Gen Digital, Inc. | 11,696 | 206,668 |
Hewlett Packard Enterprise Co. | 113,489 | 1,625,162 |
International Business Machines Corp. | 12,840 | 1,623,104 |
Intuit, Inc. | 3,523 | 1,564,036 |
Leidos Holdings, Inc. | 2,402 | 224,011 |
Meta Platforms, Inc., Class A * | 7,572 | 1,819,703 |
Microsoft Corp. | 8,213 | 2,523,526 |
Oracle Corp. | 23,008 | 2,179,318 |
INVESTMENTS | SHARES | VALUE ($) |
Software & Computer Services — continued | ||
Roper Technologies, Inc. | 2,733 | 1,242,914 |
Science Applications International Corp. | 3,950 | 403,018 |
SS&C Technologies Holdings, Inc. | 14,695 | 860,245 |
22,129,444 | ||
Technology Hardware & Equipment — 4.7% | ||
Amphenol Corp., Class A | 20,058 | 1,513,777 |
Analog Devices, Inc. | 10,867 | 1,954,756 |
Apple, Inc. | 13,912 | 2,360,588 |
Applied Materials, Inc. | 15,904 | 1,797,629 |
Broadcom, Inc. | 3,206 | 2,008,559 |
Cirrus Logic, Inc. * | 580 | 49,758 |
HP, Inc. | 45,730 | 1,358,638 |
KLA Corp. | 5,299 | 2,048,276 |
Lam Research Corp. | 3,530 | 1,850,003 |
NetApp, Inc. | 19,771 | 1,243,398 |
NVIDIA Corp. | 8,330 | 2,311,492 |
Skyworks Solutions, Inc. | 10,757 | 1,139,166 |
TD SYNNEX Corp. | 7,753 | 690,327 |
Teradyne, Inc. | 15,055 | 1,375,726 |
Texas Instruments, Inc. | 10,814 | 1,808,101 |
23,510,194 | ||
Telecommunications Equipment — 2.0% | ||
Arista Networks, Inc. * | 14,560 | 2,331,929 |
Ciena Corp. * | 2,191 | 100,874 |
Cisco Systems, Inc. | 41,141 | 1,943,912 |
Juniper Networks, Inc. | 66,778 | 2,013,357 |
Lumentum Holdings, Inc. * | 2,653 | 128,007 |
Motorola Solutions, Inc. | 7,590 | 2,211,726 |
Ubiquiti, Inc. | 5,109 | 1,188,098 |
9,917,903 | ||
Telecommunications Service Providers — 3.3% | ||
Altice USA, Inc., Class A * (a) | 226,572 | 793,002 |
AT&T, Inc. | 107,670 | 1,902,529 |
Cable One, Inc. | 2,190 | 1,660,918 |
Charter Communications, Inc., Class A * | 5,462 | 2,013,839 |
Comcast Corp., Class A | 54,417 | 2,251,231 |
DISH Network Corp., Class A * | 134,980 | 1,013,700 |
Frontier Communications Parent, Inc. * (a) | 54,420 | 1,226,627 |
Lumen Technologies, Inc. | 637,535 | 1,510,958 |
T-Mobile US, Inc. * | 14,242 | 2,049,424 |
Verizon Communications, Inc. | 52,956 | 2,056,281 |
16,478,509 |
152 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Tobacco — 0.8% | ||
Altria Group, Inc. | 43,491 | 2,066,258 |
Philip Morris International, Inc. | 20,422 | 2,041,587 |
4,107,845 | ||
Travel & Leisure — 0.1% | ||
Travel + Leisure Co. | 9,070 | 347,109 |
Waste & Disposal Services — 1.3% | ||
Clean Harbors, Inc. * | 15,019 | 2,180,158 |
Republic Services, Inc. | 15,890 | 2,298,012 |
Waste Management, Inc. | 13,648 | 2,266,250 |
6,744,420 | ||
Total Common Stocks (Cost $457,100,047) | 498,985,951 | |
Short-Term Investments — 2.5% | ||
Investment Companies — 0.1% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (b) (c)(Cost $360,914) | 360,914 | 360,914 |
Investment of Cash Collateral from Securities Loaned — 2.4% | ||
JPMorgan Securities Lending Money Market Fund Class Agency SL Shares, 5.01% (b) (c) | 10,198,028 | 10,199,047 |
INVESTMENTS | SHARES | VALUE ($) |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (b) (c) | 1,938,866 | 1,938,866 |
Total Investment of Cash Collateral from Securities Loaned (Cost $12,138,793) | 12,137,913 | |
Total Short-Term Investments (Cost $12,499,707) | 12,498,827 | |
Total Investments — 102.3% (Cost $469,599,754) | 511,484,778 | |
Liabilities in Excess of Other Assets — (2.3)% | (11,599,350 ) | |
NET ASSETS — 100.0% | 499,885,428 |
Percentages indicated are based on net assets. |
* | Non-income producing security. |
(a) | The security or a portion of this security is on loan at April 30, 2023. The total value of securities on loan at April 30, 2023 is $11,942,167. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of April 30, 2023. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 3 | 06/16/2023 | USD | 628,350 | 25,556 |
Abbreviations | |
USD | United States Dollar |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 153 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — 99.7% | ||
Aerospace & Defense — 0.1% | ||
Textron, Inc. | 6,137 | 410,811 |
Automobiles & Parts — 0.6% | ||
BorgWarner, Inc. | 14,514 | 698,559 |
Gentex Corp. | 41,768 | 1,152,379 |
LKQ Corp. | 4,287 | 247,488 |
2,098,426 | ||
Banks — 1.8% | ||
Bank of Hawaii Corp. | 3,704 | 179,385 |
Citizens Financial Group, Inc. | 10,149 | 314,010 |
Comerica, Inc. | 4,778 | 207,222 |
Discover Financial Services | 8,124 | 840,590 |
Fifth Third Bancorp | 16,771 | 439,400 |
First Horizon Corp. | 17,218 | 302,176 |
FNB Corp. | 18,201 | 208,947 |
Huntington Bancshares, Inc. | 89,345 | 1,000,664 |
KeyCorp | 20,706 | 233,150 |
M&T Bank Corp. | 5,792 | 728,634 |
Popular, Inc. (Puerto Rico) | 13,234 | 794,172 |
Prosperity Bancshares, Inc. | 3,308 | 207,147 |
Regions Financial Corp. | 26,427 | 482,557 |
Zions Bancorp NA | 6,902 | 192,290 |
6,130,344 | ||
Beverages — 0.9% | ||
Brown-Forman Corp., Class B | 21,104 | 1,373,659 |
Molson Coors Beverage Co., Class B | 26,451 | 1,573,306 |
2,946,965 | ||
Chemicals — 5.3% | ||
Albemarle Corp. | 2,833 | 525,408 |
Ashland, Inc. | 13,637 | 1,385,656 |
Celanese Corp. | 8,865 | 941,818 |
CF Industries Holdings, Inc. | 16,424 | 1,175,630 |
Chemours Co. (The) | 38,515 | 1,119,631 |
Eastman Chemical Co. | 12,715 | 1,071,493 |
Element Solutions, Inc. | 66,672 | 1,210,097 |
FMC Corp. | 11,137 | 1,376,310 |
Huntsman Corp. | 46,518 | 1,246,217 |
LyondellBasell Industries NV, Class A | 14,548 | 1,376,386 |
Mosaic Co. (The) | 24,861 | 1,065,294 |
NewMarket Corp. | 600 | 239,760 |
Olin Corp. | 23,487 | 1,301,180 |
Univar Solutions, Inc. * | 40,310 | 1,431,005 |
INVESTMENTS | SHARES | VALUE ($) |
Chemicals — continued | ||
Valvoline, Inc. | 38,605 | 1,333,803 |
Westlake Corp. | 11,357 | 1,292,199 |
18,091,887 | ||
Construction & Materials — 2.6% | ||
A O Smith Corp. | 16,273 | 1,111,283 |
Builders FirstSource, Inc. * | 16,024 | 1,518,595 |
Eagle Materials, Inc. | 2,726 | 404,020 |
Fortune Brands Innovations, Inc. | 9,510 | 615,202 |
Louisiana-Pacific Corp. | 21,885 | 1,307,410 |
Masco Corp. | 18,266 | 977,414 |
Masterbrand, Inc. * | 9,353 | 75,479 |
Owens Corning | 12,477 | 1,332,668 |
Quanta Services, Inc. | 8,760 | 1,486,046 |
8,828,117 | ||
Consumer Services — 0.6% | ||
H&R Block, Inc. | 24,976 | 846,936 |
Service Corp. International | 15,825 | 1,110,757 |
1,957,693 | ||
Electricity — 7.7% | ||
AES Corp. (The) | 42,262 | 999,919 |
Alliant Energy Corp. | 19,344 | 1,066,628 |
Avangrid, Inc. | 22,269 | 896,550 |
Brookfield Renewable Corp. | 8,765 | 292,839 |
Consolidated Edison, Inc. | 15,745 | 1,550,410 |
Constellation Energy Corp. | 13,433 | 1,039,714 |
DTE Energy Co. | 10,832 | 1,217,625 |
Edison International | 19,469 | 1,432,919 |
Entergy Corp. | 10,276 | 1,105,492 |
Evergy, Inc. | 24,003 | 1,490,826 |
Eversource Energy | 10,393 | 806,601 |
FirstEnergy Corp. | 35,113 | 1,397,497 |
Hawaiian Electric Industries, Inc. | 25,011 | 980,681 |
IDACORP, Inc. | 13,011 | 1,445,782 |
NRG Energy, Inc. | 33,079 | 1,130,310 |
OGE Energy Corp. | 39,511 | 1,483,243 |
PG&E Corp. * | 64,873 | 1,109,977 |
Pinnacle West Capital Corp. | 18,693 | 1,466,653 |
PPL Corp. | 51,645 | 1,483,245 |
Public Service Enterprise Group, Inc. | 21,699 | 1,371,377 |
Vistra Corp. | 57,898 | 1,381,446 |
Xcel Energy, Inc. | 18,796 | 1,314,028 |
26,463,762 |
154 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Electronic & Electrical Equipment — 1.8% | ||
AMETEK, Inc. | 9,924 | 1,368,817 |
Crane Co. * | 3,785 | 272,785 |
Crane NXT Co. | 3,752 | 177,695 |
Hubbell, Inc. | 5,336 | 1,437,092 |
IDEX Corp. | 6,047 | 1,247,617 |
Keysight Technologies, Inc. * | 7,988 | 1,155,384 |
nVent Electric plc | 10,195 | 427,476 |
6,086,866 | ||
Finance & Credit Services — 0.4% | ||
Ally Financial, Inc. | 13,789 | 363,754 |
OneMain Holdings, Inc. | 21,955 | 842,413 |
1,206,167 | ||
Food Producers — 5.9% | ||
Bunge Ltd. | 12,230 | 1,144,728 |
Campbell Soup Co. | 27,232 | 1,478,698 |
Conagra Brands, Inc. | 39,630 | 1,504,355 |
Corteva, Inc. | 22,235 | 1,359,003 |
Darling Ingredients, Inc. * | 18,279 | 1,088,880 |
Flowers Foods, Inc. | 50,717 | 1,395,225 |
Hershey Co. (The) | 5,986 | 1,634,537 |
Hormel Foods Corp. | 34,821 | 1,408,161 |
Ingredion, Inc. | 14,224 | 1,510,162 |
J M Smucker Co. (The) | 9,470 | 1,462,263 |
Kellogg Co. | 21,873 | 1,526,079 |
Lamb Weston Holdings, Inc. | 14,015 | 1,567,017 |
Pilgrim's Pride Corp. * | 39,805 | 907,952 |
Post Holdings, Inc. * | 15,553 | 1,407,391 |
Tyson Foods, Inc., Class A | 6,391 | 399,374 |
US Foods Holding Corp. * | 10,541 | 404,774 |
20,198,599 | ||
Gas, Water & Multi-utilities — 2.8% | ||
Ameren Corp. | 15,003 | 1,334,817 |
Atmos Energy Corp. | 12,112 | 1,382,464 |
CenterPoint Energy, Inc. | 45,781 | 1,394,947 |
National Fuel Gas Co. | 24,052 | 1,344,507 |
NiSource, Inc. | 49,520 | 1,409,339 |
UGI Corp. | 37,616 | 1,274,430 |
WEC Energy Group, Inc. | 15,348 | 1,476,017 |
9,616,521 | ||
General Industrials — 1.6% | ||
AptarGroup, Inc. | 221 | 26,191 |
Carlisle Cos., Inc. | 1,385 | 298,952 |
INVESTMENTS | SHARES | VALUE ($) |
General Industrials — continued | ||
ITT, Inc. | 4,666 | 393,997 |
Packaging Corp. of America | 7,305 | 988,074 |
Parker-Hannifin Corp. | 3,561 | 1,156,898 |
RPM International, Inc. | 13,539 | 1,110,604 |
Silgan Holdings, Inc. | 12,629 | 622,105 |
Sonoco Products Co. | 10,829 | 656,454 |
WestRock Co. | 6,107 | 182,782 |
5,436,057 | ||
Health Care Providers — 3.5% | ||
Acadia Healthcare Co., Inc. * | 15,745 | 1,138,206 |
Amedisys, Inc. * | 4,845 | 389,053 |
Chemed Corp. | 2,714 | 1,496,092 |
DaVita, Inc. * | 11,417 | 1,031,640 |
Encompass Health Corp. | 19,201 | 1,231,744 |
Enhabit, Inc. * | 7,826 | 95,869 |
IQVIA Holdings, Inc. * | 5,713 | 1,075,358 |
Molina Healthcare, Inc. * | 4,137 | 1,232,371 |
Premier, Inc., Class A | 26,414 | 880,379 |
Tenet Healthcare Corp. * | 16,381 | 1,201,055 |
Universal Health Services, Inc., Class B | 8,313 | 1,249,860 |
Veeva Systems, Inc., Class A * | 6,139 | 1,099,372 |
12,120,999 | ||
Household Goods & Home Construction — 1.3% | ||
Leggett & Platt, Inc. | 13,399 | 432,922 |
Lennar Corp., Class A | 13,876 | 1,565,351 |
NVR, Inc. * | 32 | 186,880 |
Toll Brothers, Inc. | 22,433 | 1,433,693 |
Whirlpool Corp. | 6,254 | 872,996 |
4,491,842 | ||
Industrial Engineering — 1.9% | ||
Cummins, Inc. | 5,415 | 1,272,741 |
Graco, Inc. | 18,116 | 1,436,418 |
Lincoln Electric Holdings, Inc. | 5,671 | 951,594 |
Nordson Corp. | 970 | 209,821 |
Snap-on, Inc. | 5,651 | 1,465,926 |
Toro Co. (The) | 10,444 | 1,088,891 |
6,425,391 | ||
Industrial Materials — 0.7% | ||
Avery Dennison Corp. | 1,956 | 341,283 |
Hexcel Corp. | 14,602 | 1,052,512 |
International Paper Co. | 25,380 | 840,332 |
2,234,127 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 155 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Industrial Metals & Mining — 2.4% | ||
Cleveland-Cliffs, Inc. * | 62,067 | 954,591 |
Fastenal Co. | 23,849 | 1,284,030 |
MP Materials Corp. * | 4,280 | 92,748 |
Nucor Corp. | 7,938 | 1,176,253 |
Reliance Steel & Aluminum Co. | 5,379 | 1,332,916 |
Steel Dynamics, Inc. | 10,391 | 1,080,144 |
Timken Co. (The) | 15,966 | 1,226,987 |
United States Steel Corp. | 45,094 | 1,031,751 |
8,179,420 | ||
Industrial Support Services — 1.6% | ||
ADT, Inc. | 15,542 | 104,131 |
Booz Allen Hamilton Holding Corp. | 3,790 | 362,779 |
FTI Consulting, Inc. * | 2,371 | 427,966 |
MSC Industrial Direct Co., Inc., Class A | 9,258 | 839,978 |
Paychex, Inc. | 7,946 | 872,948 |
Robert Half International, Inc. | 4,203 | 306,819 |
Synchrony Financial | 29,655 | 875,119 |
Western Union Co. (The) | 12,544 | 137,106 |
WW Grainger, Inc. | 2,037 | 1,416,876 |
5,343,722 | ||
Industrial Transportation — 1.6% | ||
Allison Transmission Holdings, Inc. | 21,874 | 1,067,232 |
Expeditors International of Washington, Inc. | 7,798 | 887,724 |
Landstar System, Inc. | 7,051 | 1,241,188 |
Old Dominion Freight Line, Inc. | 3,986 | 1,277,075 |
PACCAR, Inc. | 5,758 | 430,065 |
Ryder System, Inc. | 6,342 | 502,033 |
Schneider National, Inc., Class B | 8,659 | 226,606 |
5,631,923 | ||
Investment Banking & Brokerage Services — 2.1% | ||
Ameriprise Financial, Inc. | 3,661 | 1,117,044 |
Invesco Ltd. | 59,248 | 1,014,918 |
Jefferies Financial Group, Inc. | 37,876 | 1,213,168 |
LPL Financial Holdings, Inc. | 5,539 | 1,156,765 |
Nasdaq, Inc. | 13,329 | 738,027 |
Raymond James Financial, Inc. | 7,843 | 710,027 |
State Street Corp. | 15,648 | 1,130,724 |
Virtu Financial, Inc., Class A | 14,574 | 292,209 |
7,372,882 | ||
Leisure Goods — 0.6% | ||
Garmin Ltd. | 8,860 | 869,786 |
Harley-Davidson, Inc. | 2,291 | 84,996 |
INVESTMENTS | SHARES | VALUE ($) |
Leisure Goods — continued | ||
Polaris, Inc. | 5,091 | 553,137 |
Pool Corp. | 1,426 | 500,983 |
2,008,902 | ||
Life Insurance — 1.1% | ||
Aflac, Inc. | 18,709 | 1,306,823 |
Principal Financial Group, Inc. | 16,155 | 1,206,617 |
Unum Group | 31,154 | 1,314,699 |
3,828,139 | ||
Media — 0.9% | ||
Interpublic Group of Cos., Inc. (The) | 40,008 | 1,429,486 |
Liberty Media Corp.-Liberty SiriusXM, Class A * | 13,917 | 391,068 |
Nexstar Media Group, Inc. | 7,467 | 1,295,151 |
3,115,705 | ||
Medical Equipment & Services — 6.2% | ||
Agilent Technologies, Inc. | 8,756 | 1,185,825 |
Bio-Rad Laboratories, Inc., Class A * | 2,036 | 917,808 |
Bio-Techne Corp. | 3,053 | 243,874 |
Bruker Corp. | 16,117 | 1,275,338 |
Cooper Cos., Inc. (The) | 2,146 | 818,592 |
Dentsply Sirona, Inc. | 21,353 | 895,331 |
Envista Holdings Corp. * | 31,727 | 1,221,172 |
Globus Medical, Inc., Class A * | 13,728 | 798,146 |
Henry Schein, Inc. * | 17,821 | 1,440,115 |
Hologic, Inc. * | 17,762 | 1,527,710 |
Integra LifeSciences Holdings Corp. * | 9,759 | 539,868 |
Laboratory Corp. of America Holdings | 5,180 | 1,174,358 |
Masimo Corp. * | 4,129 | 780,959 |
PerkinElmer, Inc. | 8,063 | 1,052,141 |
QIAGEN NV * | 23,962 | 1,068,945 |
Quest Diagnostics, Inc. | 10,052 | 1,395,318 |
QuidelOrtho Corp. * | 11,485 | 1,033,076 |
ResMed, Inc. | 5,351 | 1,289,377 |
STERIS plc | 6,359 | 1,198,989 |
Teleflex, Inc. | 809 | 220,469 |
West Pharmaceutical Services, Inc. | 3,469 | 1,253,141 |
21,330,552 | ||
Mortgage Real Estate Investment Trusts — 0.6% | ||
Annaly Capital Management, Inc. | 11,911 | 237,982 |
Rithm Capital Corp. | 98,523 | 803,948 |
Starwood Property Trust, Inc. (a) | 51,107 | 914,304 |
1,956,234 |
156 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Non-life Insurance — 2.8% | ||
American Financial Group, Inc. | 9,296 | 1,140,898 |
Arch Capital Group Ltd. * | 3,175 | 238,347 |
Arthur J Gallagher & Co. | 7,258 | 1,510,100 |
Assured Guaranty Ltd. | 7,515 | 404,833 |
Axis Capital Holdings Ltd. | 6,680 | 377,687 |
Brown & Brown, Inc. | 6,267 | 403,532 |
CNA Financial Corp. | 193 | 7,510 |
Everest Re Group Ltd. | 1,940 | 733,320 |
Fidelity National Financial, Inc. | 11,873 | 421,373 |
First American Financial Corp. | 6,545 | 377,057 |
Hanover Insurance Group, Inc. (The) | 2,708 | 323,769 |
Hartford Financial Services Group, Inc. (The) | 18,248 | 1,295,426 |
Old Republic International Corp. | 54,263 | 1,371,226 |
Reinsurance Group of America, Inc. | 3,745 | 532,988 |
White Mountains Insurance Group Ltd. | 153 | 219,117 |
WR Berkley Corp. | 4,438 | 261,487 |
9,618,670 | ||
Non-Renewable Energy — 5.5% | ||
Antero Midstream Corp. | 125,252 | 1,347,712 |
Antero Resources Corp. * | 38,862 | 893,437 |
APA Corp. | 22,055 | 812,727 |
Cheniere Energy, Inc. | 6,447 | 986,391 |
Chesapeake Energy Corp. | 13,343 | 1,103,199 |
Coterra Energy, Inc. | 53,707 | 1,374,899 |
Devon Energy Corp. | 18,955 | 1,012,766 |
Diamondback Energy, Inc. | 9,325 | 1,326,015 |
DT Midstream, Inc. | 5,073 | 249,947 |
EQT Corp. | 41,171 | 1,434,398 |
Halliburton Co. | 34,146 | 1,118,281 |
HF Sinclair Corp. | 26,408 | 1,164,857 |
Marathon Oil Corp. | 44,611 | 1,077,802 |
Phillips 66 | 13,218 | 1,308,582 |
Range Resources Corp. | 15,097 | 399,316 |
Targa Resources Corp. | 18,048 | 1,363,165 |
Texas Pacific Land Corp. | 545 | 805,319 |
Vitesse Energy, Inc. | 3,633 | 66,847 |
Williams Cos., Inc. (The) | 39,026 | 1,180,927 |
19,026,587 | ||
Personal Care, Drug & Grocery Stores — 3.2% | ||
Albertsons Cos., Inc., Class A | 70,436 | 1,472,112 |
AmerisourceBergen Corp. | 9,066 | 1,512,662 |
Casey's General Stores, Inc. | 6,703 | 1,533,780 |
Church & Dwight Co., Inc. | 14,746 | 1,432,132 |
INVESTMENTS | SHARES | VALUE ($) |
Personal Care, Drug & Grocery Stores — continued | ||
Clorox Co. (The) | 9,082 | 1,504,161 |
Grocery Outlet Holding Corp. * | 13,590 | 404,710 |
Kroger Co. (The) | 31,063 | 1,510,594 |
Olaplex Holdings, Inc. * | 69,225 | 256,132 |
Performance Food Group Co. * | 11,066 | 693,728 |
Reynolds Consumer Products, Inc. | 23,590 | 661,228 |
Spectrum Brands Holdings, Inc. | 2,792 | 185,668 |
11,166,907 | ||
Personal Goods — 0.4% | ||
Carter's, Inc. | 3,087 | 215,380 |
Tapestry, Inc. | 31,813 | 1,298,288 |
1,513,668 | ||
Pharmaceuticals, Biotechnology & Marijuana Producers — 3.3% | ||
Biogen, Inc. * | 1,072 | 326,135 |
Cardinal Health, Inc. | 18,294 | 1,501,938 |
Exelixis, Inc. * | 26,711 | 488,811 |
Horizon Therapeutics plc * | 12,985 | 1,443,413 |
Incyte Corp. * | 14,271 | 1,061,905 |
Jazz Pharmaceuticals plc * | 8,689 | 1,220,544 |
Maravai LifeSciences Holdings, Inc., Class A * | 20,048 | 276,462 |
Neurocrine Biosciences, Inc. * | 5,513 | 557,034 |
Organon & Co. | 22,072 | 543,633 |
Royalty Pharma plc | 32,965 | 1,158,719 |
Syneos Health, Inc. * | 8,204 | 322,089 |
United Therapeutics Corp. * | 5,752 | 1,323,708 |
Viatris, Inc. | 127,080 | 1,185,656 |
11,410,047 | ||
Precious Metals & Mining — 0.1% | ||
SSR Mining, Inc. (Canada) | 33,792 | 483,901 |
Real Estate Investment & Services — 0.6% | ||
CBRE Group, Inc., Class A * | 16,465 | 1,262,207 |
Jones Lang LaSalle, Inc. * | 6,724 | 934,905 |
2,197,112 | ||
Real Estate Investment Trusts — 8.6% | ||
American Homes 4 Rent, Class A | 17,961 | 597,383 |
Brixmor Property Group, Inc. | 52,164 | 1,112,658 |
Camden Property Trust | 7,655 | 842,433 |
CubeSmart | 23,813 | 1,083,253 |
EPR Properties | 15,433 | 647,569 |
Extra Space Storage, Inc. | 6,889 | 1,047,404 |
First Industrial Realty Trust, Inc. | 10,762 | 564,682 |
Gaming and Leisure Properties, Inc. | 26,152 | 1,359,904 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 157 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Real Estate Investment Trusts — continued | ||
Highwoods Properties, Inc. | 11,248 | 257,804 |
Host Hotels & Resorts, Inc. | 74,788 | 1,209,322 |
Iron Mountain, Inc. | 25,886 | 1,429,943 |
Kimco Realty Corp. | 62,413 | 1,197,705 |
Lamar Advertising Co., Class A | 13,299 | 1,405,438 |
Life Storage, Inc. | 10,096 | 1,356,700 |
Medical Properties Trust, Inc. (a) | 54,788 | 480,491 |
Mid-America Apartment Communities, Inc. | 7,041 | 1,082,906 |
National Retail Properties, Inc. | 23,103 | 1,004,980 |
Omega Healthcare Investors, Inc. | 47,060 | 1,259,326 |
Rayonier, Inc. | 26,681 | 836,716 |
Realty Income Corp. | 4,903 | 308,105 |
Regency Centers Corp. | 20,102 | 1,234,866 |
Rexford Industrial Realty, Inc. | 17,068 | 951,882 |
Simon Property Group, Inc. | 10,339 | 1,171,615 |
Spirit Realty Capital, Inc. | 25,314 | 973,576 |
Ventas, Inc. | 21,068 | 1,012,317 |
VICI Properties, Inc. | 41,801 | 1,418,726 |
Welltower, Inc. | 16,212 | 1,284,315 |
Weyerhaeuser Co. | 43,426 | 1,298,872 |
WP Carey, Inc. | 17,164 | 1,273,569 |
29,704,460 | ||
Retailers — 3.3% | ||
AutoNation, Inc. * | 10,177 | 1,340,311 |
AutoZone, Inc. * | 540 | 1,438,188 |
Bath & Body Works, Inc. | 4,262 | 149,596 |
Best Buy Co., Inc. | 11,858 | 883,658 |
Dick's Sporting Goods, Inc. | 10,802 | 1,566,398 |
Kohl's Corp. | 1,624 | 35,777 |
Macy's, Inc. | 42,341 | 691,852 |
O'Reilly Automotive, Inc. * | 1,442 | 1,322,761 |
Penske Automotive Group, Inc. | 9,780 | 1,355,312 |
Tractor Supply Co. | 6,208 | 1,479,987 |
Williams-Sonoma, Inc. | 8,290 | 1,003,422 |
11,267,262 | ||
Software & Computer Services — 5.5% | ||
Akamai Technologies, Inc. * | 4,864 | 398,702 |
Amdocs Ltd. | 15,653 | 1,428,336 |
ANSYS, Inc. * | 4,128 | 1,295,862 |
CACI International, Inc., Class A * | 3,967 | 1,242,940 |
Cadence Design Systems, Inc. * | 7,262 | 1,521,026 |
Concentrix Corp. | 5,314 | 512,854 |
Dolby Laboratories, Inc., Class A | 11,575 | 968,712 |
INVESTMENTS | SHARES | VALUE ($) |
Software & Computer Services — continued | ||
EPAM Systems, Inc. * | 2,707 | 764,565 |
Fortinet, Inc. * | 22,231 | 1,401,665 |
Gartner, Inc. * | 4,081 | 1,234,339 |
Gen Digital, Inc. | 14,913 | 263,513 |
Hewlett Packard Enterprise Co. | 73,634 | 1,054,439 |
Leidos Holdings, Inc. | 10,415 | 971,303 |
Manhattan Associates, Inc. * | 9,713 | 1,609,250 |
Paycom Software, Inc. * | 642 | 186,417 |
Science Applications International Corp. | 5,231 | 533,719 |
SS&C Technologies Holdings, Inc. | 19,424 | 1,137,081 |
Synopsys, Inc. * | 3,850 | 1,429,582 |
Tyler Technologies, Inc. * | 2,473 | 937,341 |
18,891,646 | ||
Technology Hardware & Equipment — 4.4% | ||
Amphenol Corp., Class A | 17,761 | 1,340,423 |
CDW Corp. | 7,019 | 1,190,352 |
Cirrus Logic, Inc. * | 10,851 | 930,907 |
Corning, Inc. | 28,034 | 931,289 |
Dell Technologies, Inc., Class C | 18,307 | 796,171 |
HP, Inc. | 29,615 | 879,862 |
Jabil, Inc. | 16,759 | 1,309,716 |
Microchip Technology, Inc. | 11,215 | 818,583 |
Monolithic Power Systems, Inc. | 2,826 | 1,305,527 |
National Instruments Corp. | 2,709 | 157,745 |
NetApp, Inc. | 13,759 | 865,304 |
ON Semiconductor Corp. * | 18,097 | 1,302,260 |
Qorvo, Inc. * | 8,456 | 778,628 |
Skyworks Solutions, Inc. | 7,904 | 837,034 |
TD SYNNEX Corp. | 8,669 | 771,888 |
Teradyne, Inc. | 10,582 | 966,983 |
15,182,672 | ||
Telecommunications Equipment — 2.0% | ||
Arista Networks, Inc. * | 10,136 | 1,623,382 |
Ciena Corp. * | 5,745 | 264,500 |
Juniper Networks, Inc. | 46,551 | 1,403,513 |
Lumentum Holdings, Inc. * | 11,832 | 570,894 |
Motorola Solutions, Inc. | 5,354 | 1,560,155 |
Ubiquiti, Inc. | 4,475 | 1,040,661 |
Viasat, Inc. * | 14,374 | 503,521 |
6,966,626 | ||
Telecommunications Service Providers — 1.8% | ||
Altice USA, Inc., Class A * | 185,611 | 649,639 |
Cable One, Inc. | 2,048 | 1,553,224 |
158 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Telecommunications Service Providers — continued | ||
DISH Network Corp., Class A * | 125,950 | 945,884 |
Frontier Communications Parent, Inc. * | 51,528 | 1,161,441 |
Liberty Broadband Corp., Class C * | 8,632 | 731,821 |
Lumen Technologies, Inc. | 421,090 | 997,983 |
6,039,992 | ||
Travel & Leisure — 0.7% | ||
Boyd Gaming Corp. | 16,790 | 1,165,226 |
Choice Hotels International, Inc. | 3,143 | 400,795 |
Copa Holdings SA, Class A (Panama) | 7,430 | 671,078 |
Travel + Leisure Co. | 6,204 | 237,427 |
Wendy's Co. (The) | 1,383 | 30,564 |
2,505,090 | ||
Waste & Disposal Services — 0.9% | ||
Clean Harbors, Inc. * | 10,467 | 1,519,390 |
Republic Services, Inc. | 10,978 | 1,587,638 |
Stericycle, Inc. * | 3,137 | 143,204 |
3,250,232 | ||
Total Common Stocks (Cost $333,769,852) | 342,736,925 | |
Short-Term Investments — 0.6% | ||
Investment Companies — 0.2% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (b) (c)(Cost $659,852) | 659,852 | 659,852 |
INVESTMENTS | SHARES | VALUE ($) |
Investment of Cash Collateral from Securities Loaned — 0.4% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (b) (c)(Cost $1,355,792) | 1,355,792 | 1,355,792 |
Total Short-Term Investments (Cost $2,015,644) | 2,015,644 | |
Total Investments — 100.3% (Cost $335,785,496) | 344,752,569 | |
Liabilities in Excess of Other Assets — (0.3)% | (1,082,289 ) | |
NET ASSETS — 100.0% | 343,670,280 |
Percentages indicated are based on net assets. |
* | Non-income producing security. |
(a) | The security or a portion of this security is on loan at April 30, 2023. The total value of securities on loan at April 30, 2023 is $1,323,835. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of April 30, 2023. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P Midcap 400 E-Mini Index | 3 | 06/16/2023 | USD | 750,480 | 16,814 |
Abbreviations | |
USD | United States Dollar |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 159 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — 99.8% | ||
Aerospace & Defense — 0.1% | ||
Moog, Inc., Class A | 2,364 | 213,020 |
National Presto Industries, Inc. | 2,701 | 183,722 |
396,742 | ||
Automobiles & Parts — 0.4% | ||
Dorman Products, Inc. * | 8,174 | 704,272 |
Gentherm, Inc. * | 16,657 | 993,590 |
1,697,862 | ||
Banks — 4.2% | ||
1st Source Corp. | 2,925 | 121,914 |
Ameris Bancorp | 19,902 | 666,717 |
Atlantic Union Bankshares Corp. | 12,530 | 358,609 |
Axos Financial, Inc. * | 3,539 | 143,931 |
BancFirst Corp. | 2,143 | 171,204 |
Bank of NT Butterfield & Son Ltd. (The) (Bermuda) | 19,325 | 497,232 |
Banner Corp. | 7,243 | 361,571 |
Brookline Bancorp, Inc. | 841 | 8,023 |
Capital City Bank Group, Inc. | 1,161 | 35,364 |
Cathay General Bancorp | 19,665 | 626,724 |
Community Trust Bancorp, Inc. | 5,320 | 191,573 |
First BanCorp (Puerto Rico) | 35,367 | 415,562 |
First Busey Corp. | 4,574 | 83,155 |
First Financial Bancorp | 12,626 | 261,358 |
First Financial Corp. | 3,142 | 108,556 |
First Merchants Corp. | 6,178 | 180,274 |
Fulton Financial Corp. | 35,508 | 423,611 |
Hancock Whitney Corp. | 12,227 | 446,530 |
Hilltop Holdings, Inc. | 37,307 | 1,157,263 |
Home BancShares, Inc. | 3,164 | 68,880 |
Hope Bancorp, Inc. | 59,057 | 537,419 |
Independent Bank Group, Inc. | 3,940 | 143,337 |
International Bancshares Corp. | 4,361 | 186,084 |
Lakeland Financial Corp. | 4,488 | 227,407 |
NBT Bancorp, Inc. | 9,353 | 301,541 |
Northwest Bancshares, Inc. | 30,904 | 361,268 |
OceanFirst Financial Corp. | 31,521 | 504,336 |
OFG Bancorp (Puerto Rico) | 21,653 | 553,667 |
Old National Bancorp | 66,629 | 893,495 |
Renasant Corp. | 15,105 | 424,753 |
Republic Bancorp, Inc., Class A | 3,581 | 140,733 |
Simmons First National Corp., Class A | 30,517 | 509,939 |
TrustCo Bank Corp. | 8,526 | 254,416 |
Trustmark Corp. | 23,462 | 560,507 |
UMB Financial Corp. | 12,032 | 765,356 |
INVESTMENTS | SHARES | VALUE ($) |
Banks — continued | ||
United Bankshares, Inc. | 30,808 | 1,020,669 |
United Community Banks, Inc. | 18,389 | 457,886 |
Valley National Bancorp | 100,422 | 941,958 |
Washington Federal, Inc. | 15,001 | 420,628 |
WesBanco, Inc. | 19,134 | 509,347 |
16,042,797 | ||
Beverages — 1.7% | ||
BRC, Inc., Class A * (a) | 14,856 | 77,400 |
Celsius Holdings, Inc. * (a) | 10,765 | 1,028,811 |
Coca-Cola Consolidated, Inc. | 2,209 | 1,302,117 |
Duckhorn Portfolio, Inc. (The) * | 54,210 | 818,571 |
MGP Ingredients, Inc. | 12,277 | 1,211,495 |
National Beverage Corp. * | 21,886 | 1,087,734 |
Primo Water Corp. | 64,012 | 972,342 |
6,498,470 | ||
Chemicals — 3.6% | ||
AdvanSix, Inc. | 23,047 | 868,411 |
American Vanguard Corp. | 29,926 | 576,075 |
Avient Corp. | 26,178 | 1,008,115 |
Balchem Corp. | 8,712 | 1,144,757 |
Cabot Corp. | 14,749 | 1,058,388 |
Ingevity Corp. * | 15,093 | 1,082,772 |
Innospec, Inc. | 11,192 | 1,137,443 |
Intrepid Potash, Inc. * (a) | 20,750 | 534,935 |
Livent Corp. * (a) | 36,085 | 788,457 |
LSB Industries, Inc. * | 85,449 | 763,060 |
Orion Engineered Carbons SA (Germany) | 46,676 | 1,130,026 |
Quaker Chemical Corp. | 2,569 | 479,452 |
Rayonier Advanced Materials, Inc. * | 83,970 | 456,797 |
Sensient Technologies Corp. | 15,074 | 1,122,410 |
Stepan Co. | 9,195 | 847,779 |
Tronox Holdings plc | 61,351 | 839,895 |
13,838,772 | ||
Construction & Materials — 1.9% | ||
Comfort Systems USA, Inc. | 8,169 | 1,221,184 |
EMCOR Group, Inc. | 7,294 | 1,247,274 |
Exponent, Inc. | 7,896 | 726,827 |
GMS, Inc. * | 11,922 | 692,191 |
Griffon Corp. | 8,712 | 247,856 |
Installed Building Products, Inc. | 5,427 | 674,413 |
Masonite International Corp. * | 5,648 | 516,284 |
Mueller Water Products, Inc., Class A | 8,015 | 107,401 |
Patrick Industries, Inc. | 6,699 | 459,752 |
160 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Construction & Materials — continued | ||
Quanex Building Products Corp. | 9,199 | 175,701 |
Simpson Manufacturing Co., Inc. | 9,806 | 1,233,399 |
7,302,282 | ||
Consumer Services — 0.7% | ||
Carriage Services, Inc. | 3,539 | 101,605 |
Laureate Education, Inc., Class A | 81,401 | 1,008,558 |
Perdoceo Education Corp. * | 56,444 | 732,643 |
Strategic Education, Inc. | 3,251 | 286,088 |
Upbound Group, Inc. (a) | 23,607 | 629,363 |
2,758,257 | ||
Electricity — 2.1% | ||
ALLETE, Inc. | 20,015 | 1,248,536 |
Clearway Energy, Inc., Class C | 39,317 | 1,194,057 |
MGE Energy, Inc. | 10,534 | 807,010 |
NorthWestern Corp. | 21,595 | 1,265,899 |
Ormat Technologies, Inc. | 10,181 | 873,632 |
PNM Resources, Inc. | 25,445 | 1,224,668 |
Portland General Electric Co. | 26,109 | 1,321,637 |
Via Renewables, Inc. (a) | 7,762 | 80,339 |
8,015,778 | ||
Electronic & Electrical Equipment — 1.4% | ||
Atkore, Inc. * | 8,064 | 1,018,725 |
AZZ, Inc. | 8,673 | 327,232 |
Badger Meter, Inc. | 10,072 | 1,332,828 |
Brady Corp., Class A | 9,436 | 481,519 |
Encore Wire Corp. | 6,263 | 979,095 |
Watts Water Technologies, Inc., Class A | 7,034 | 1,137,609 |
5,277,008 | ||
Finance & Credit Services — 1.8% | ||
Encore Capital Group, Inc. * | 9,259 | 475,727 |
Enova International, Inc. * | 15,913 | 698,899 |
Federal Agricultural Mortgage Corp., Class C | 1,897 | 252,851 |
Mr. Cooper Group, Inc. * | 26,052 | 1,206,208 |
Navient Corp. | 68,075 | 1,125,961 |
Nelnet, Inc., Class A | 4,697 | 452,321 |
PennyMac Financial Services, Inc. | 19,788 | 1,236,552 |
Radian Group, Inc. | 51,930 | 1,260,341 |
6,708,860 | ||
Food Producers — 4.8% | ||
Andersons, Inc. (The) | 25,750 | 1,151,025 |
B&G Foods, Inc. (a) | 51,793 | 830,760 |
BellRing Brands, Inc. * | 35,505 | 1,277,825 |
INVESTMENTS | SHARES | VALUE ($) |
Food Producers — continued | ||
Cal-Maine Foods, Inc. (a) | 21,843 | 1,037,542 |
Fresh Del Monte Produce, Inc. | 30,563 | 877,464 |
GrowGeneration Corp. * (a) | 75,211 | 257,222 |
Hain Celestial Group, Inc. (The) * | 17,885 | 320,678 |
Herbalife Ltd. * | 39,796 | 591,369 |
Hostess Brands, Inc. * | 49,689 | 1,279,989 |
J & J Snack Foods Corp. | 6,616 | 1,013,571 |
John B Sanfilippo & Son, Inc. | 9,652 | 1,003,325 |
Lancaster Colony Corp. | 6,523 | 1,364,090 |
Medifast, Inc. | 7,356 | 674,177 |
Nature's Sunshine Products, Inc. * | 11,287 | 123,706 |
Simply Good Foods Co. (The) * | 32,181 | 1,170,423 |
Sovos Brands, Inc. * | 23,472 | 402,545 |
SunOpta, Inc. (Canada) * (a) | 84,942 | 722,007 |
Tootsie Roll Industries, Inc. (a) | 28,479 | 1,164,222 |
TreeHouse Foods, Inc. * | 25,134 | 1,338,385 |
USANA Health Sciences, Inc. * | 10,428 | 692,106 |
Utz Brands, Inc. | 54,884 | 1,037,856 |
18,330,287 | ||
Gas, Water & Multi-utilities — 3.8% | ||
American States Water Co. | 13,225 | 1,173,719 |
Aris Water Solutions, Inc., Class A (a) | 23,824 | 173,200 |
Avista Corp. | 24,210 | 1,066,935 |
Black Hills Corp. | 17,226 | 1,124,686 |
Brookfield Infrastructure Corp., Class A (Canada) | 26,531 | 1,130,221 |
California Water Service Group | 21,905 | 1,228,432 |
Chesapeake Utilities Corp. | 6,985 | 862,647 |
Evoqua Water Technologies Corp. * | 25,324 | 1,252,272 |
Excelerate Energy, Inc., Class A | 17,296 | 371,864 |
Middlesex Water Co. | 3,874 | 282,724 |
New Jersey Resources Corp. | 24,247 | 1,252,115 |
Northwest Natural Holding Co. | 17,647 | 828,703 |
ONE Gas, Inc. | 15,386 | 1,183,953 |
SJW Group | 16,429 | 1,247,290 |
Southwest Gas Holdings, Inc. | 3,315 | 185,640 |
Spire, Inc. | 17,684 | 1,197,737 |
14,562,138 | ||
General Industrials — 1.4% | ||
Apogee Enterprises, Inc. | 9,163 | 389,977 |
Barnes Group, Inc. | 4,819 | 202,543 |
CSW Industrials, Inc. | 3,258 | 438,755 |
Greif, Inc., Class A | 12,575 | 789,584 |
HB Fuller Co. | 15,053 | 996,057 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 161 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
General Industrials — continued | ||
Kronos Worldwide, Inc. | 31,425 | 292,252 |
Myers Industries, Inc. | 10,990 | 208,261 |
Otter Tail Corp. | 15,466 | 1,112,779 |
Standex International Corp. | 3,110 | 381,939 |
TriMas Corp. | 3,508 | 89,138 |
Trinseo plc | 13,535 | 245,254 |
5,146,539 | ||
Health Care Providers — 2.9% | ||
Addus HomeCare Corp. * | 7,657 | 625,883 |
Apollo Medical Holdings, Inc. * (a) | 20,756 | 736,631 |
Brookdale Senior Living, Inc. * | 12,413 | 53,252 |
Computer Programs and Systems, Inc. * | 10,598 | 274,276 |
CorVel Corp. * | 4,765 | 962,673 |
Ensign Group, Inc. (The) | 13,028 | 1,264,889 |
Healthcare Services Group, Inc. | 16,258 | 253,787 |
HealthEquity, Inc. * | 12,468 | 666,415 |
ModivCare, Inc. * | 6,947 | 441,829 |
NextGen Healthcare, Inc. * | 34,769 | 582,033 |
Omnicell, Inc. * | 7,409 | 450,245 |
Option Care Health, Inc. * | 36,274 | 1,166,209 |
Pennant Group, Inc. (The) * | 15,629 | 216,774 |
RadNet, Inc. * | 12,618 | 349,014 |
Select Medical Holdings Corp. | 39,146 | 1,193,953 |
Surgery Partners, Inc. * | 27,590 | 1,094,219 |
US Physical Therapy, Inc. | 6,161 | 655,900 |
10,987,982 | ||
Household Goods & Home Construction — 2.0% | ||
Beazer Homes USA, Inc. * | 8,919 | 190,064 |
Central Garden & Pet Co., Class A * | 14,604 | 515,959 |
CompX International, Inc. (a) | 3,049 | 55,187 |
Ethan Allen Interiors, Inc. (a) | 38,018 | 1,061,843 |
HNI Corp. | 18,586 | 482,864 |
Interface, Inc. | 45,459 | 356,398 |
La-Z-Boy, Inc. | 32,939 | 946,337 |
LGI Homes, Inc. * | 2,222 | 263,974 |
M/I Homes, Inc. * | 13,267 | 897,380 |
MDC Holdings, Inc. | 8,247 | 337,880 |
MillerKnoll, Inc. | 20,100 | 341,901 |
Sleep Number Corp. * | 2,692 | 60,705 |
Steelcase, Inc., Class A | 31,763 | 254,104 |
Taylor Morrison Home Corp. * | 34,159 | 1,471,911 |
Tri Pointe Homes, Inc. * | 14,043 | 402,753 |
7,639,260 |
INVESTMENTS | SHARES | VALUE ($) |
Industrial Engineering — 1.1% | ||
Albany International Corp., Class A | 5,744 | 523,910 |
Astec Industries, Inc. | 527 | 21,755 |
Columbus McKinnon Corp. | 10,790 | 374,521 |
EnPro Industries, Inc. | 6,616 | 623,690 |
Franklin Electric Co., Inc. | 12,528 | 1,120,880 |
Hillenbrand, Inc. | 21,424 | 977,363 |
John Bean Technologies Corp. | 1,840 | 200,026 |
Tennant Co. | 219 | 16,736 |
Titan Machinery, Inc. * | 5,625 | 176,344 |
4,035,225 | ||
Industrial Materials — 2.1% | ||
Boise Cascade Co. | 17,717 | 1,210,248 |
Clearwater Paper Corp. * | 20,991 | 757,775 |
Koppers Holdings, Inc. | 21,734 | 713,093 |
Materion Corp. | 10,503 | 1,137,580 |
Mativ Holdings, Inc. | 42,715 | 827,390 |
Minerals Technologies, Inc. | 16,130 | 955,864 |
Sylvamo Corp. | 24,760 | 1,134,503 |
Tredegar Corp. | 17,772 | 166,701 |
UFP Industries, Inc. | 14,364 | 1,127,861 |
8,031,015 | ||
Industrial Metals & Mining — 3.6% | ||
Arconic Corp. * | 2,275 | 56,306 |
Carpenter Technology Corp. | 23,716 | 1,250,782 |
Commercial Metals Co. | 22,982 | 1,073,030 |
Compass Minerals International, Inc. | 23,809 | 779,269 |
Constellium SE * | 54,225 | 805,241 |
GrafTech International Ltd. | 148,732 | 700,528 |
Haynes International, Inc. | 12,544 | 589,693 |
Kaiser Aluminum Corp. | 3,362 | 220,951 |
Mueller Industries, Inc. | 16,549 | 1,189,046 |
Olympic Steel, Inc. | 11,954 | 556,698 |
Piedmont Lithium, Inc. * (a) | 16,595 | 954,212 |
RBC Bearings, Inc. * | 5,005 | 1,136,185 |
Ryerson Holding Corp. | 24,772 | 935,638 |
Schnitzer Steel Industries, Inc., Class A | 23,390 | 675,737 |
TimkenSteel Corp. * | 46,264 | 774,459 |
US Silica Holdings, Inc. * | 72,694 | 948,657 |
Worthington Industries, Inc. | 19,898 | 1,181,742 |
13,828,174 | ||
Industrial Support Services — 2.4% | ||
ABM Industries, Inc. | 15,600 | 664,248 |
Applied Industrial Technologies, Inc. | 8,629 | 1,170,610 |
162 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Industrial Support Services — continued | ||
ASGN, Inc. * | 7,174 | 513,587 |
CoreCivic, Inc., REIT * | 59,180 | 520,192 |
CRA International, Inc. | 5,648 | 593,831 |
DXP Enterprises, Inc. * | 1,697 | 42,764 |
EVERTEC, Inc. (Puerto Rico) | 13,599 | 471,749 |
ExlService Holdings, Inc. * | 6,290 | 1,122,010 |
Forrester Research, Inc. * | 2,723 | 84,250 |
Heidrick & Struggles International, Inc. | 7,640 | 191,840 |
Insperity, Inc. | 6,043 | 740,026 |
Korn Ferry | 8,793 | 422,240 |
Maximus, Inc. | 15,050 | 1,258,933 |
Pitney Bowes, Inc. | 60,202 | 211,309 |
Resources Connection, Inc. | 8,220 | 119,930 |
TriNet Group, Inc. * | 9,435 | 875,379 |
TrueBlue, Inc. * | 5,992 | 90,779 |
UniFirst Corp. | 33 | 5,401 |
9,099,078 | ||
Industrial Transportation — 2.8% | ||
ArcBest Corp. | 8,901 | 840,254 |
Costamare, Inc. (Monaco) | 28,510 | 257,445 |
DHT Holdings, Inc. | 102,364 | 971,434 |
Federal Signal Corp. | 10,676 | 548,533 |
Forward Air Corp. | 6,961 | 734,455 |
Frontline plc (Norway) (a) | 64,968 | 1,005,055 |
GATX Corp. | 6,574 | 748,844 |
Genco Shipping & Trading Ltd. | 26,323 | 405,638 |
Hub Group, Inc., Class A * | 2,762 | 208,255 |
Matson, Inc. | 13,980 | 951,059 |
McGrath RentCorp | 5,911 | 525,370 |
Saia, Inc. * | 4,167 | 1,240,808 |
Scorpio Tankers, Inc. (Monaco) | 5,648 | 295,108 |
Triton International Ltd. (Bermuda) | 17,878 | 1,477,974 |
Wabash National Corp. | 9,426 | 241,966 |
10,452,198 | ||
Investment Banking & Brokerage Services — 1.2% | ||
Artisan Partners Asset Management, Inc., Class A | 29,437 | 1,020,581 |
Brightsphere Investment Group, Inc. | 24,075 | 543,613 |
Cohen & Steers, Inc. | 3,647 | 219,039 |
Federated Hermes, Inc. | 28,916 | 1,196,833 |
Houlihan Lokey, Inc. | 8,444 | 771,613 |
INVESTMENTS | SHARES | VALUE ($) |
Investment Banking & Brokerage Services — continued | ||
Moelis & Co., Class A | 17,679 | 669,680 |
Virtus Investment Partners, Inc. | 155 | 28,243 |
4,449,602 | ||
Leisure Goods — 1.0% | ||
Camping World Holdings, Inc., Class A (a) | 32,857 | 735,668 |
Fox Factory Holding Corp. * | 654 | 72,509 |
LCI Industries | 5,401 | 610,097 |
Smith & Wesson Brands, Inc. | 79,322 | 953,451 |
Sturm Ruger & Co., Inc. | 20,547 | 1,182,685 |
Universal Electronics, Inc. * | 7,837 | 78,762 |
3,633,172 | ||
Life Insurance — 1.2% | ||
American Equity Investment Life Holding Co. | 29,194 | 1,125,137 |
CNO Financial Group, Inc. | 47,640 | 1,069,042 |
Genworth Financial, Inc., Class A * | 197,688 | 1,148,567 |
Jackson Financial, Inc., Class A (a) | 27,966 | 1,007,056 |
National Western Life Group, Inc., Class A | 574 | 146,358 |
4,496,160 | ||
Media — 0.4% | ||
Gray Television, Inc. | 28,011 | 215,965 |
QuinStreet, Inc. * | 6,444 | 71,593 |
Scholastic Corp. | 5,796 | 222,972 |
TEGNA, Inc. | 64,743 | 1,107,105 |
1,617,635 | ||
Medical Equipment & Services — 3.5% | ||
AdaptHealth Corp. * | 32,194 | 382,465 |
Anika Therapeutics, Inc. * | 3,633 | 93,223 |
AtriCure, Inc. * | 14,914 | 656,067 |
Atrion Corp. | 362 | 222,739 |
Avanos Medical, Inc. * | 11,104 | 328,012 |
CONMED Corp. | 10,194 | 1,280,061 |
Fulgent Genetics, Inc. * | 17,956 | 530,959 |
Haemonetics Corp. * | 10,540 | 882,303 |
Integer Holdings Corp. * | 11,948 | 983,918 |
Lantheus Holdings, Inc. * | 15,624 | 1,335,071 |
Merit Medical Systems, Inc. * | 17,679 | 1,437,126 |
Neogen Corp. * | 28,782 | 495,626 |
NeoGenomics, Inc. * | 35,770 | 522,957 |
OraSure Technologies, Inc. * | 79,365 | 539,682 |
Orthofix Medical, Inc. * | 6,773 | 127,536 |
Owens & Minor, Inc. * | 30,084 | 467,505 |
Patterson Cos., Inc. | 40,512 | 1,098,280 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 163 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Medical Equipment & Services — continued | ||
STAAR Surgical Co. * | 9,516 | 670,592 |
Surmodics, Inc. * (a) | 4,384 | 101,007 |
UFP Technologies, Inc. * | 2,700 | 372,168 |
Varex Imaging Corp. * | 32,212 | 571,441 |
Zynex, Inc. * (a) | 18,738 | 214,363 |
13,313,101 | ||
Mortgage Real Estate Investment Trusts — 1.6% | ||
Apollo Commercial Real Estate Finance, Inc. (a) | 75,433 | 763,382 |
Arbor Realty Trust, Inc. (a) | 44,268 | 507,754 |
Dynex Capital, Inc. (a) | 44,704 | 530,189 |
Ellington Financial, Inc. (a) | 61,798 | 789,161 |
KKR Real Estate Finance Trust, Inc. | 37,999 | 408,109 |
Ladder Capital Corp. | 68,227 | 637,923 |
MFA Financial, Inc. | 40,023 | 427,846 |
New York Mortgage Trust, Inc. (a) | 30,537 | 313,920 |
PennyMac Mortgage Investment Trust | 14,584 | 181,279 |
Ready Capital Corp. (a) | 36,914 | 396,087 |
Redwood Trust, Inc. (a) | 67,543 | 424,170 |
TPG RE Finance Trust, Inc. | 16,248 | 115,848 |
Two Harbors Investment Corp. (a) | 33,873 | 471,851 |
5,967,519 | ||
Nonequity Investment Instruments — 0.0% ^ | ||
OmniAb, Inc. * (a) | 26,736 | 93,041 |
OmniAb, Inc. ‡ * | 1,382 | — |
93,041 | ||
Non-life Insurance — 1.3% | ||
Employers Holdings, Inc. | 14,785 | 585,338 |
Essent Group Ltd. | 9,830 | 417,480 |
Horace Mann Educators Corp. | 9,628 | 301,164 |
RLI Corp. | 9,178 | 1,276,201 |
Safety Insurance Group, Inc. | 4,944 | 361,357 |
Selective Insurance Group, Inc. | 9,709 | 935,268 |
Stewart Information Services Corp. | 22,065 | 919,007 |
4,795,815 | ||
Non-Renewable Energy — 5.9% | ||
Alpha Metallurgical Resources, Inc. | 4,821 | 706,566 |
Arch Resources, Inc. (a) | 5,232 | 639,612 |
Archrock, Inc. | 108,229 | 1,113,676 |
Berry Corp. | 58,358 | 445,855 |
Cactus, Inc., Class A | 21,830 | 883,678 |
ChampionX Corp. | 25,321 | 685,693 |
Chord Energy Corp. | 5,706 | 812,135 |
INVESTMENTS | SHARES | VALUE ($) |
Non-Renewable Energy — continued | ||
Civitas Resources, Inc. | 17,054 | 1,177,579 |
CNX Resources Corp. * | 50,914 | 790,694 |
Comstock Resources, Inc. (a) | 62,440 | 718,060 |
CONSOL Energy, Inc. | 15,777 | 936,207 |
CVR Energy, Inc. | 24,597 | 647,885 |
Delek US Holdings, Inc. | 23,576 | 512,778 |
DMC Global, Inc. * | 7,562 | 143,224 |
Helix Energy Solutions Group, Inc. * | 107,479 | 779,223 |
Magnolia Oil & Gas Corp., Class A | 41,148 | 869,046 |
Matador Resources Co. | 17,544 | 860,182 |
MRC Global, Inc. * | 29,119 | 283,619 |
Nabors Industries Ltd. * | 4,460 | 444,840 |
Newpark Resources, Inc. * | 4,931 | 19,724 |
Northern Oil and Gas, Inc. | 14,229 | 471,976 |
NOW, Inc. * | 43,893 | 468,338 |
Patterson-UTI Energy, Inc. | 63,059 | 705,630 |
PBF Energy, Inc., Class A | 25,940 | 904,268 |
Permian Resources Corp. | 105,118 | 1,098,483 |
ProPetro Holding Corp. * | 10,175 | 70,615 |
Ranger Oil Corp. | 23,648 | 974,298 |
RPC, Inc. | 29,540 | 218,301 |
SandRidge Energy, Inc. * | 35,641 | 505,033 |
SM Energy Co. | 23,230 | 652,298 |
Solaris Oilfield Infrastructure, Inc., Class A | 53,742 | 412,739 |
SunCoke Energy, Inc. | 94,841 | 737,863 |
Warrior Met Coal, Inc. | 19,371 | 669,656 |
World Fuel Services Corp. | 36,142 | 854,397 |
22,214,171 | ||
Personal Care, Drug & Grocery Stores — 2.8% | ||
ACCO Brands Corp. | 85,931 | 393,564 |
Chefs' Warehouse, Inc. (The) * | 26,539 | 882,687 |
Edgewell Personal Care Co. | 28,258 | 1,234,027 |
Energizer Holdings, Inc. | 27,835 | 930,524 |
Ingles Markets, Inc., Class A | 11,945 | 1,099,418 |
Nu Skin Enterprises, Inc., Class A | 20,295 | 800,841 |
PetMed Express, Inc. (a) | 45,015 | 691,880 |
Rite Aid Corp. * (a) | 16,830 | 35,343 |
SpartanNash Co. | 36,450 | 893,754 |
Sprouts Farmers Market, Inc. * | 32,738 | 1,134,699 |
United Natural Foods, Inc. * | 25,086 | 684,095 |
Veru, Inc. * (a) | 225,878 | 286,865 |
WD-40 Co. (a) | 5,122 | 975,229 |
Weis Markets, Inc. | 7,435 | 613,313 |
10,656,239 |
164 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Personal Goods — 0.8% | ||
Movado Group, Inc. | 17,600 | 450,912 |
Oxford Industries, Inc. | 9,033 | 932,115 |
Signet Jewelers Ltd. (a) | 15,976 | 1,175,514 |
Steven Madden Ltd. | 18,664 | 653,987 |
3,212,528 | ||
Pharmaceuticals, Biotechnology & Marijuana Producers — 4.6% | ||
Amphastar Pharmaceuticals, Inc. * | 24,259 | 867,744 |
ANI Pharmaceuticals, Inc. * | 7,561 | 285,201 |
Arcus Biosciences, Inc. * | 12,237 | 218,431 |
Arrowhead Pharmaceuticals, Inc. * | 23,608 | 835,959 |
Castle Biosciences, Inc. * | 11,944 | 270,293 |
Catalyst Pharmaceuticals, Inc. * | 80,566 | 1,282,611 |
Collegium Pharmaceutical, Inc. * | 30,536 | 710,573 |
Corcept Therapeutics, Inc. * (a) | 42,836 | 965,095 |
Dynavax Technologies Corp. * | 65,782 | 684,791 |
Eagle Pharmaceuticals, Inc. * | 6,242 | 175,275 |
Halozyme Therapeutics, Inc. * | 22,640 | 727,423 |
Harmony Biosciences Holdings, Inc. * | 12,914 | 416,347 |
Heska Corp. * | 2,171 | 254,354 |
Innoviva, Inc. * | 61,051 | 716,128 |
Ironwood Pharmaceuticals, Inc. * | 109,450 | 1,139,375 |
Ligand Pharmaceuticals, Inc. * | 8,243 | 629,353 |
Medpace Holdings, Inc. * | 5,791 | 1,159,011 |
Myriad Genetics, Inc. * | 15,891 | 338,319 |
Pacira BioSciences, Inc. * | 18,731 | 848,702 |
PDL BioPharma, Inc. ‡ * | 22,361 | 31,810 |
Prestige Consumer Healthcare, Inc. * | 19,913 | 1,225,247 |
Prothena Corp. plc (Ireland) * | 20,749 | 1,091,812 |
Supernus Pharmaceuticals, Inc. * | 28,512 | 1,050,952 |
Travere Therapeutics, Inc. * | 17,297 | 373,096 |
Vanda Pharmaceuticals, Inc. * | 32,791 | 201,337 |
Vir Biotechnology, Inc. * | 29,591 | 744,214 |
VZS Enterprises, Inc. ‡ * | 1,382 | — |
Xencor, Inc. * | 11,862 | 313,631 |
17,557,084 | ||
Precious Metals & Mining — 0.3% | ||
Hecla Mining Co. | 174,406 | 1,055,156 |
Real Estate Investment & Services — 0.8% | ||
Anywhere Real Estate, Inc. * | 27,977 | 178,213 |
Douglas Elliman, Inc. | 68,387 | 218,155 |
eXp World Holdings, Inc. (a) | 35,653 | 416,784 |
Kennedy-Wilson Holdings, Inc. | 32,935 | 552,649 |
Marcus & Millichap, Inc. | 15,862 | 499,177 |
INVESTMENTS | SHARES | VALUE ($) |
Real Estate Investment & Services — continued | ||
Newmark Group, Inc., Class A | 100,685 | 638,343 |
St. Joe Co. (The) | 15,737 | 646,791 |
3,150,112 | ||
Real Estate Investment Trusts — 9.4% | ||
Agree Realty Corp. | 17,664 | 1,200,975 |
Alexander & Baldwin, Inc. | 27,269 | 524,383 |
American Assets Trust, Inc. | 5,362 | 97,588 |
Apartment Investment and Management Co., Class A | 100,746 | 788,841 |
Apple Hospitality REIT, Inc. | 72,986 | 1,086,762 |
Ares Commercial Real Estate Corp. | 83,284 | 717,075 |
Bluerock Homes Trust, Inc. * | 2,458 | 48,570 |
Brandywine Realty Trust | 45,161 | 177,483 |
Broadstone Net Lease, Inc. | 59,428 | 960,951 |
CareTrust REIT, Inc. | 62,190 | 1,212,083 |
Community Healthcare Trust, Inc. | 11,057 | 395,730 |
Corporate Office Properties Trust | 48,390 | 1,107,647 |
DiamondRock Hospitality Co. | 93,447 | 757,855 |
Easterly Government Properties, Inc. (a) | 18,949 | 266,612 |
Equity Commonwealth | 39,924 | 827,225 |
Essential Properties Realty Trust, Inc. | 37,537 | 929,041 |
Four Corners Property Trust, Inc. | 45,092 | 1,150,297 |
GEO Group, Inc. (The) * (a) | 135,553 | 1,020,714 |
Getty Realty Corp. | 17,155 | 571,776 |
Global Net Lease, Inc. (a) | 52,088 | 586,511 |
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (a) | 2,170 | 61,585 |
Independence Realty Trust, Inc. | 54,255 | 903,346 |
Industrial Logistics Properties Trust | 16,515 | 34,021 |
Innovative Industrial Properties, Inc. | 6,122 | 419,663 |
Kite Realty Group Trust | 56,872 | 1,178,388 |
LTC Properties, Inc. (a) | 35,216 | 1,177,975 |
LXP Industrial Trust | 29,853 | 280,618 |
Macerich Co. (The) | 73,790 | 737,162 |
National Health Investors, Inc. | 23,036 | 1,146,502 |
NexPoint Residential Trust, Inc. | 276 | 11,849 |
Office Properties Income Trust (a) | 17,449 | 113,768 |
Pebblebrook Hotel Trust | 48,823 | 694,751 |
Phillips Edison & Co., Inc. | 36,387 | 1,147,646 |
Physicians Realty Trust | 83,879 | 1,209,535 |
Piedmont Office Realty Trust, Inc., Class A | 22,901 | 149,086 |
PotlatchDeltic Corp. (a) | 26,552 | 1,227,499 |
Retail Opportunity Investments Corp. | 57,106 | 744,091 |
RLJ Lodging Trust | 40,539 | 409,444 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 165 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Real Estate Investment Trusts — continued | ||
RPT Realty | 59,990 | 557,907 |
Ryman Hospitality Properties, Inc. | 13,039 | 1,169,077 |
Sabra Health Care REIT, Inc. | 103,702 | 1,182,203 |
SITE Centers Corp. | 72,718 | 897,340 |
STAG Industrial, Inc. | 34,320 | 1,162,418 |
Star Holdings * | 7,421 | 119,775 |
Summit Hotel Properties, Inc. | 18,896 | 121,690 |
Sunstone Hotel Investors, Inc. | 115,282 | 1,098,637 |
Tanger Factory Outlet Centers, Inc. (a) | 65,812 | 1,290,573 |
Terreno Realty Corp. | 19,376 | 1,193,368 |
Urban Edge Properties | 48,095 | 705,554 |
Whitestone | 27,263 | 244,004 |
35,817,594 | ||
Renewable Energy — 0.5% | ||
Arcosa, Inc. | 20,244 | 1,367,280 |
REX American Resources Corp. * | 11,730 | 331,842 |
1,699,122 | ||
Retailers — 2.6% | ||
Abercrombie & Fitch Co., Class A * | 669 | 15,748 |
Academy Sports & Outdoors, Inc. | 5,599 | 355,649 |
America's Car-Mart, Inc. * (a) | 2,926 | 235,221 |
Asbury Automotive Group, Inc. * | 1,879 | 363,511 |
Big 5 Sporting Goods Corp. (a) | 58,890 | 464,053 |
Buckle, Inc. (The) | 30,609 | 1,026,320 |
Caleres, Inc. | 3,691 | 84,155 |
Citi Trends, Inc. * | 13,415 | 231,543 |
Dillard's, Inc., Class A (a) | 3,411 | 1,017,808 |
Genesco, Inc. * | 9,506 | 329,478 |
Global Industrial Co. | 2,076 | 55,325 |
Group 1 Automotive, Inc. | 5,355 | 1,202,090 |
Haverty Furniture Cos., Inc. | 26,006 | 783,821 |
Hibbett, Inc. | 11,300 | 613,929 |
Murphy USA, Inc. | 4,521 | 1,244,315 |
ODP Corp. (The) * | 11,944 | 516,100 |
PriceSmart, Inc. | 2,688 | 198,052 |
Shoe Carnival, Inc. | 35,676 | 829,467 |
Zumiez, Inc. * | 25,803 | 451,166 |
10,017,751 | ||
Software & Computer Services — 3.9% | ||
A10 Networks, Inc. | 20,947 | 296,191 |
Agilysys, Inc. * | 10,715 | 836,199 |
Alarm.com Holdings, Inc. * | 4,639 | 221,234 |
Appfolio, Inc., Class A * | 3,729 | 520,643 |
INVESTMENTS | SHARES | VALUE ($) |
Software & Computer Services — continued | ||
Avid Technology, Inc. * | 22,273 | 657,276 |
Cerence, Inc. * | 17,789 | 454,509 |
Consensus Cloud Solutions, Inc. * | 8,119 | 303,082 |
CSG Systems International, Inc. | 16,583 | 873,592 |
MicroStrategy, Inc., Class A * (a) | 3,310 | 1,086,938 |
Mitek Systems, Inc. * | 17,748 | 160,087 |
NetScout Systems, Inc. * | 25,330 | 689,229 |
OneSpan, Inc. * | 13,199 | 194,553 |
Perficient, Inc. * | 10,742 | 697,371 |
Progress Software Corp. | 21,064 | 1,155,992 |
Qualys, Inc. * | 7,654 | 864,443 |
Shutterstock, Inc. | 14,103 | 944,901 |
Simulations Plus, Inc. (a) | 12,033 | 502,378 |
SPS Commerce, Inc. * | 8,330 | 1,227,009 |
Veradigm, Inc. * | 48,453 | 605,178 |
Verint Systems, Inc. * | 17,503 | 638,684 |
Workiva, Inc. * | 12,405 | 1,158,875 |
Ziff Davis, Inc. * | 11,919 | 871,756 |
14,960,120 | ||
Technology Hardware & Equipment — 6.6% | ||
Adeia, Inc. | 68,409 | 522,645 |
Advanced Energy Industries, Inc. | 12,437 | 1,075,801 |
Alpha & Omega Semiconductor Ltd. * | 21,621 | 516,310 |
Amkor Technology, Inc. | 43,757 | 978,844 |
Axcelis Technologies, Inc. * | 9,524 | 1,126,689 |
Benchmark Electronics, Inc. | 14,755 | 315,019 |
CEVA, Inc. * | 9,333 | 234,538 |
Cohu, Inc. * | 29,669 | 1,003,999 |
CTS Corp. | 17,000 | 666,570 |
Diodes, Inc. * | 13,312 | 1,060,966 |
Fabrinet (Thailand) * | 9,356 | 888,352 |
FormFactor, Inc. * | 32,800 | 895,768 |
Ichor Holdings Ltd. * | 13,218 | 368,121 |
Insight Enterprises, Inc. * | 9,015 | 1,090,364 |
Kulicke & Soffa Industries, Inc. (Singapore) | 21,696 | 1,034,031 |
MaxLinear, Inc. * | 22,585 | 544,976 |
Methode Electronics, Inc. | 17,802 | 729,704 |
Novanta, Inc. * | 7,361 | 1,125,055 |
Onto Innovation, Inc. * | 14,544 | 1,177,773 |
PC Connection, Inc. | 5,516 | 222,129 |
Photronics, Inc. * | 48,838 | 706,198 |
Plexus Corp. * | 9,542 | 834,639 |
Power Integrations, Inc. | 14,683 | 1,068,629 |
Rambus, Inc. * | 27,856 | 1,235,135 |
166 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Technology Hardware & Equipment — continued | ||
Sanmina Corp. * | 12,627 | 659,887 |
ScanSource, Inc. * | 10,314 | 282,088 |
Semtech Corp. * | 16,552 | 322,599 |
SiTime Corp. * | 5,261 | 570,661 |
SMART Global Holdings, Inc. * | 18,755 | 289,202 |
Super Micro Computer, Inc. * | 4,147 | 437,218 |
Synaptics, Inc. * | 6,017 | 532,866 |
TTM Technologies, Inc. * | 50,923 | 601,401 |
Ultra Clean Holdings, Inc. * | 31,036 | 885,767 |
Vishay Intertechnology, Inc. | 43,956 | 935,823 |
24,939,767 | ||
Telecommunications Equipment — 2.7% | ||
ADTRAN Holdings, Inc. | 50,930 | 464,482 |
Aviat Networks, Inc. * | 15,429 | 506,225 |
Calix, Inc. * | 17,604 | 804,503 |
Cambium Networks Corp. * | 31,480 | 476,607 |
Clearfield, Inc. * | 9,956 | 434,878 |
CommScope Holding Co., Inc. * | 70,567 | 347,895 |
Comtech Telecommunications Corp. | 25,630 | 265,270 |
Digi International, Inc. * | 19,347 | 583,505 |
EchoStar Corp., Class A * | 53,244 | 908,875 |
Extreme Networks, Inc. * | 68,709 | 1,221,646 |
Harmonic, Inc. * | 92,817 | 1,307,792 |
Infinera Corp. * (a) | 74,317 | 470,427 |
InterDigital, Inc. | 16,944 | 1,147,787 |
Lightwave Logic, Inc. * (a) | 31,434 | 141,453 |
NETGEAR, Inc. * | 16,121 | 227,790 |
Ribbon Communications, Inc. * | 1,005 | 2,573 |
Viavi Solutions, Inc. * | 87,042 | 779,896 |
10,091,604 | ||
Telecommunications Service Providers — 2.3% | ||
Anterix, Inc. * | 1,586 | 50,086 |
Cogent Communications Holdings, Inc. (a) | 19,443 | 1,342,345 |
Consolidated Communications Holdings, Inc. * | 90,180 | 348,997 |
Globalstar, Inc. * (a) | 673,550 | 610,236 |
Gogo, Inc. * | 65,064 | 872,508 |
IDT Corp., Class B * | 35,095 | 1,165,505 |
Iridium Communications, Inc. | 19,715 | 1,251,311 |
Liberty Latin America Ltd., Class C (Puerto Rico) * | 104,265 | 925,873 |
Shenandoah Telecommunications Co. | 39,256 | 816,917 |
Telephone and Data Systems, Inc. | 84,065 | 840,650 |
INVESTMENTS | SHARES | VALUE ($) |
Telecommunications Service Providers — continued | ||
WideOpenWest, Inc. * | 29,007 | 331,550 |
Xperi, Inc. * | 20,120 | 190,939 |
8,746,917 | ||
Tobacco — 0.8% | ||
22nd Century Group, Inc. * (a) | 85,804 | 60,955 |
Turning Point Brands, Inc. | 30,154 | 717,364 |
Universal Corp. | 16,282 | 893,719 |
Vector Group Ltd. | 93,078 | 1,185,814 |
2,857,852 | ||
Travel & Leisure — 0.3% | ||
Biglari Holdings, Inc., Class B * | 233 | 40,356 |
Bloomin' Brands, Inc. | 33,139 | 820,853 |
Chuy's Holdings, Inc. * | 2,872 | 100,175 |
El Pollo Loco Holdings, Inc. | 5,792 | 53,981 |
Ruth's Hospitality Group, Inc. | 4,704 | 76,017 |
1,091,382 | ||
Waste & Disposal Services — 0.5% | ||
Casella Waste Systems, Inc., Class A * | 16,072 | 1,430,408 |
Vertex Energy, Inc. * (a) | 76,670 | 605,693 |
2,036,101 | ||
Total Common Stocks (Cost $390,189,700) | 379,118,269 | |
NO. OF RIGHTS | ||
Rights—0.0% ^ | ||
Pharmaceuticals, Biotechnology & Marijuana Producers — 0.0% ^ | ||
Achillion Pharmaceuticals, Inc. ‡ *(Cost $—) | 12,757 | 6,379 |
SHARES | ||
Short-Term Investments — 6.2% | ||
Investment Companies — 0.2% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (b) (c)(Cost $685,213) | 685,213 | 685,213 |
Investment of Cash Collateral from Securities Loaned — 6.0% | ||
JPMorgan Securities Lending Money Market Fund Class Agency SL Shares, 5.01% (b) (c) | 17,644,232 | 17,645,997 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 167 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE ($) |
Short-Term Investments — continued | ||
Investment of Cash Collateral from Securities Loaned — continued | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (b) (c) | 5,301,298 | 5,301,298 |
Total Investment of Cash Collateral from Securities Loaned (Cost $22,951,188) | 22,947,295 | |
Total Short-Term Investments (Cost $23,636,401) | 23,632,508 | |
Total Investments — 106.0% (Cost $413,826,101) | 402,757,156 | |
Liabilities in Excess of Other Assets — (6.0)% | (22,886,420 ) | |
NET ASSETS — 100.0% | 379,870,736 |
Percentages indicated are based on net assets. |
Abbreviations | |
REIT | Real Estate Investment Trust |
^ | Amount rounds to less than 0.1% of net assets. | |
‡ | Value determined using significant unobservable inputs. | |
* | Non-income producing security. | |
(a) | The security or a portion of this security is on loan at April 30, 2023. The total value of securities on loan at April 30, 2023 is $22,458,095. | |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(c) | The rate shown is the current yield as of April 30, 2023. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
Russell 2000 E-Mini Index | 5 | 06/16/2023 | USD | 443,650 | 1,574 |
Abbreviations | |
USD | United States Dollar |
168 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — 99.7% | ||
Aerospace & Defense — 3.3% | ||
Axon Enterprise, Inc. * | 2,354 | 496,011 |
BWX Technologies, Inc. | 3,067 | 198,067 |
Curtiss-Wright Corp. | 1,875 | 318,431 |
General Dynamics Corp. | 4,743 | 1,035,587 |
HEICO Corp. | 1,622 | 273,534 |
Howmet Aerospace, Inc. | 15,234 | 674,714 |
Huntington Ingalls Industries, Inc. | 2,506 | 505,360 |
Lockheed Martin Corp. | 3,635 | 1,688,276 |
Northrop Grumman Corp. | 2,609 | 1,203,453 |
Raytheon Technologies Corp. | 11,346 | 1,133,465 |
Textron, Inc. | 7,122 | 476,747 |
8,003,645 | ||
Automobiles & Parts — 0.9% | ||
BorgWarner, Inc. | 12,122 | 583,432 |
Gentex Corp. | 9,357 | 258,160 |
Genuine Parts Co. | 4,392 | 739,217 |
LKQ Corp. | 10,252 | 591,848 |
2,172,657 | ||
Banks — 0.8% | ||
Bank OZK | 5,151 | 183,994 |
Discover Financial Services | 3,667 | 379,424 |
East West Bancorp, Inc. | 6,495 | 335,727 |
First Horizon Corp. | 28,430 | 498,946 |
Popular, Inc. (Puerto Rico) | 879 | 52,749 |
Regions Financial Corp. | 28,832 | 526,472 |
1,977,312 | ||
Beverages — 1.3% | ||
Coca-Cola Co. (The) | 8,967 | 575,233 |
Constellation Brands, Inc., Class A | 2,204 | 505,752 |
Monster Beverage Corp. * | 17,852 | 999,712 |
PepsiCo, Inc. | 5,495 | 1,048,941 |
3,129,638 | ||
Chemicals — 1.1% | ||
Albemarle Corp. | 3,037 | 563,242 |
Ashland, Inc. | 1,510 | 153,431 |
CF Industries Holdings, Inc. | 6,965 | 498,555 |
Huntsman Corp. | 201 | 5,385 |
Mosaic Co. (The) | 12,257 | 525,212 |
Olin Corp. | 7,942 | 439,987 |
Westlake Corp. | 4,057 | 461,605 |
2,647,417 |
INVESTMENTS | SHARES | VALUE ($) |
Construction & Materials — 1.5% | ||
Acuity Brands, Inc. | 1,679 | 264,241 |
AECOM | 6,859 | 569,640 |
Builders FirstSource, Inc. * | 7,051 | 668,223 |
Eagle Materials, Inc. | 3,660 | 542,449 |
Louisiana-Pacific Corp. | 3,888 | 232,269 |
MDU Resources Group, Inc. | 4,951 | 144,668 |
Quanta Services, Inc. | 4,579 | 776,781 |
Watsco, Inc. | 1,249 | 432,629 |
3,630,900 | ||
Consumer Services — 1.1% | ||
Avis Budget Group, Inc. * | 2,364 | 417,648 |
Copart, Inc. * | 11,630 | 919,351 |
Grand Canyon Education, Inc. * | 2,663 | 316,098 |
H&R Block, Inc. | 15,018 | 509,260 |
Rollins, Inc. | 10,958 | 462,976 |
U-Haul Holding Co. (a) | 263 | 16,059 |
2,641,392 | ||
Electricity — 1.5% | ||
Consolidated Edison, Inc. | 9,382 | 923,846 |
Exelon Corp. | 21,721 | 921,839 |
FirstEnergy Corp. | 9,504 | 378,259 |
OGE Energy Corp. | 7,120 | 267,285 |
Southern Co. (The) | 7,373 | 542,284 |
Vistra Corp. | 23,854 | 569,156 |
3,602,669 | ||
Electronic & Electrical Equipment — 1.1% | ||
Hubbell, Inc. | 2,543 | 684,881 |
Keysight Technologies, Inc. * | 4,844 | 700,636 |
Mettler-Toledo International, Inc. * | 560 | 835,240 |
nVent Electric plc | 12,260 | 514,062 |
2,734,819 | ||
Finance & Credit Services — 0.1% | ||
Morningstar, Inc. | 12 | 2,140 |
SLM Corp. | 16,722 | 251,164 |
253,304 | ||
Food Producers — 3.4% | ||
Archer-Daniels-Midland Co. | 11,699 | 913,458 |
Bunge Ltd. | 6,448 | 603,533 |
Campbell Soup Co. | 11,378 | 617,825 |
Corteva, Inc. | 15,783 | 964,657 |
General Mills, Inc. | 12,831 | 1,137,212 |
Hershey Co. (The) | 3,696 | 1,009,230 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 169 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Food Producers — continued | ||
Ingredion, Inc. | 1,926 | 204,483 |
J M Smucker Co. (The) | 4,367 | 674,308 |
Kellogg Co. | 9,752 | 680,397 |
Lamb Weston Holdings, Inc. | 6,360 | 711,112 |
Pilgrim's Pride Corp. * | 1,031 | 23,517 |
Post Holdings, Inc. * | 5,838 | 528,281 |
8,068,013 | ||
Gas, Water & Multi-utilities — 0.8% | ||
CenterPoint Energy, Inc. | 22,002 | 670,401 |
National Fuel Gas Co. | 4,181 | 233,718 |
NiSource, Inc. | 20,157 | 573,668 |
Sempra Energy | 2,608 | 405,518 |
WEC Energy Group, Inc. | 683 | 65,684 |
1,948,989 | ||
General Industrials — 0.7% | ||
Carlisle Cos., Inc. | 2,185 | 471,632 |
Graphic Packaging Holding Co. | 18,704 | 461,241 |
RPM International, Inc. | 3,256 | 267,090 |
Valmont Industries, Inc. | 1,679 | 487,850 |
1,687,813 | ||
Health Care Providers — 3.0% | ||
Acadia Healthcare Co., Inc. * | 1,960 | 141,689 |
Cigna Group (The) | 5,056 | 1,280,634 |
HCA Healthcare, Inc. | 1,824 | 524,090 |
Humana, Inc. | 1,237 | 656,216 |
IQVIA Holdings, Inc. * | 4,185 | 787,743 |
UnitedHealth Group, Inc. | 7,681 | 3,779,743 |
7,170,115 | ||
Household Goods & Home Construction — 0.7% | ||
DR Horton, Inc. | 3,788 | 415,998 |
PulteGroup, Inc. | 11,297 | 758,593 |
Tempur Sealy International, Inc. | 12,561 | 470,661 |
1,645,252 | ||
Industrial Engineering — 1.5% | ||
Caterpillar, Inc. | 7,939 | 1,737,053 |
Deere & Co. | 4,129 | 1,560,845 |
Lincoln Electric Holdings, Inc. | 2,150 | 360,770 |
3,658,668 | ||
Industrial Metals & Mining — 0.7% | ||
Nucor Corp. | 5,646 | 836,624 |
INVESTMENTS | SHARES | VALUE ($) |
Industrial Metals & Mining — continued | ||
Reliance Steel & Aluminum Co. | 1,394 | 345,433 |
Steel Dynamics, Inc. | 5,443 | 565,800 |
1,747,857 | ||
Industrial Support Services — 2.7% | ||
American Express Co. | 5,346 | 862,524 |
Automatic Data Processing, Inc. | 1,497 | 329,340 |
Booz Allen Hamilton Holding Corp. | 5,953 | 569,821 |
Cintas Corp. | 2,068 | 942,532 |
Fair Isaac Corp. * | 959 | 698,104 |
FTI Consulting, Inc. * | 1,656 | 298,908 |
Jack Henry & Associates, Inc. | 3,423 | 559,113 |
Paychex, Inc. | 7,369 | 809,558 |
Paylocity Holding Corp. * | 2,465 | 476,460 |
WW Grainger, Inc. | 1,207 | 839,553 |
6,385,913 | ||
Industrial Transportation — 1.9% | ||
Allison Transmission Holdings, Inc. | 4,610 | 224,922 |
CH Robinson Worldwide, Inc. | 5,694 | 574,354 |
JB Hunt Transport Services, Inc. | 3,568 | 625,435 |
Old Dominion Freight Line, Inc. | 2,495 | 799,373 |
PACCAR, Inc. | 12,197 | 910,994 |
Ryder System, Inc. | 3,843 | 304,212 |
United Rentals, Inc. | 1,805 | 651,803 |
WillScot Mobile Mini Holdings Corp. * | 11,404 | 517,741 |
4,608,834 | ||
Investment Banking & Brokerage Services — 4.0% | ||
Ameriprise Financial, Inc. | 2,592 | 790,871 |
Ares Management Corp. | 7,534 | 659,903 |
Berkshire Hathaway, Inc., Class B * | 11,534 | 3,789,496 |
Charles Schwab Corp. (The) | 21,222 | 1,108,637 |
Jefferies Financial Group, Inc. | 15,067 | 482,596 |
LPL Financial Holdings, Inc. | 2,794 | 583,499 |
Morgan Stanley | 19,122 | 1,720,406 |
Nasdaq, Inc. | 7,646 | 423,359 |
9,558,767 | ||
Leisure Goods — 0.5% | ||
Activision Blizzard, Inc. * | 15,010 | 1,166,427 |
Life Insurance — 1.0% | ||
Aflac, Inc. | 11,369 | 794,124 |
Globe Life, Inc. | 4,444 | 482,263 |
Primerica, Inc. | 1,027 | 187,438 |
170 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Life Insurance — continued | ||
Principal Financial Group, Inc. | 4,942 | 369,118 |
Unum Group | 12,836 | 541,679 |
2,374,622 | ||
Media — 1.6% | ||
Interpublic Group of Cos., Inc. (The) | 17,898 | 639,496 |
Liberty Media Corp.-Liberty Formula One, Class C * | 8,693 | 627,548 |
Nexstar Media Group, Inc. | 3,044 | 527,982 |
Omnicom Group, Inc. | 7,539 | 682,807 |
Trade Desk, Inc. (The), Class A * | 11,421 | 734,827 |
World Wrestling Entertainment, Inc., Class A | 6,242 | 668,955 |
3,881,615 | ||
Medical Equipment & Services — 3.9% | ||
Agilent Technologies, Inc. | 6,515 | 882,326 |
Danaher Corp. | 9,009 | 2,134,322 |
Dexcom, Inc. * | 6,852 | 831,422 |
Insulet Corp. * | 2,317 | 736,899 |
Quest Diagnostics, Inc. | 4,475 | 621,175 |
Repligen Corp. * | 2,570 | 389,689 |
ResMed, Inc. | 3,154 | 759,988 |
Thermo Fisher Scientific, Inc. | 5,210 | 2,891,029 |
9,246,850 | ||
Non-life Insurance — 4.8% | ||
American Financial Group, Inc. | 4,270 | 524,057 |
Aon plc, Class A | 3,970 | 1,290,965 |
Arch Capital Group Ltd. * | 10,809 | 811,432 |
Arthur J Gallagher & Co. | 4,854 | 1,009,923 |
Assured Guaranty Ltd. | 2,689 | 144,856 |
Brown & Brown, Inc. | 4,543 | 292,524 |
Chubb Ltd. | 7,116 | 1,434,301 |
Erie Indemnity Co., Class A | 985 | 214,070 |
Everest Re Group Ltd. | 1,590 | 601,020 |
Marsh & McLennan Cos., Inc. | 8,589 | 1,547,652 |
Old Republic International Corp. | 11,783 | 297,756 |
Progressive Corp. (The) | 10,038 | 1,369,183 |
Reinsurance Group of America, Inc. | 4,040 | 574,973 |
RenaissanceRe Holdings Ltd. (Bermuda) | 2,261 | 487,042 |
Ryan Specialty Holdings, Inc. * | 6,024 | 246,141 |
WR Berkley Corp. | 8,736 | 514,725 |
11,360,620 | ||
Non-Renewable Energy — 4.5% | ||
Antero Resources Corp. * | 15,869 | 364,828 |
Cheniere Energy, Inc. | 5,503 | 841,959 |
INVESTMENTS | SHARES | VALUE ($) |
Non-Renewable Energy — continued | ||
Chevron Corp. | 12,918 | 2,177,716 |
ConocoPhillips | 17,340 | 1,784,113 |
Coterra Energy, Inc. | 4,859 | 124,390 |
Exxon Mobil Corp. | 2,802 | 331,589 |
Hess Corp. | 5,511 | 799,426 |
HF Sinclair Corp. | 10,500 | 463,155 |
Marathon Oil Corp. | 21,426 | 517,652 |
Marathon Petroleum Corp. | 8,826 | 1,076,772 |
Occidental Petroleum Corp. | 15,841 | 974,697 |
Targa Resources Corp. | 8,148 | 615,418 |
Valero Energy Corp. | 5,483 | 628,736 |
Vitesse Energy, Inc. | 1,773 | 32,623 |
10,733,074 | ||
Personal Care, Drug & Grocery Stores — 1.2% | ||
AmerisourceBergen Corp. | 4,900 | 817,565 |
Casey's General Stores, Inc. | 1,014 | 232,024 |
Grocery Outlet Holding Corp. * | 458 | 13,639 |
Kroger Co. (The) | 14,200 | 690,546 |
McKesson Corp. | 2,970 | 1,081,793 |
2,835,567 | ||
Personal Goods — 0.5% | ||
Deckers Outdoor Corp. * | 1,422 | 681,622 |
Tapestry, Inc. | 13,498 | 550,853 |
1,232,475 | ||
Pharmaceuticals, Biotechnology & Marijuana Producers — 6.9% | ||
AbbVie, Inc. | 22,599 | 3,415,161 |
Alnylam Pharmaceuticals, Inc. * | 3,287 | 654,770 |
Bristol-Myers Squibb Co. | 24,503 | 1,636,065 |
Cardinal Health, Inc. | 9,229 | 757,701 |
Eli Lilly & Co. | 10,895 | 4,312,895 |
Merck & Co., Inc. | 6,355 | 733,812 |
Pfizer, Inc. | 56,059 | 2,180,135 |
Seagen, Inc. * | 4,066 | 813,200 |
United Therapeutics Corp. * | 2,291 | 527,228 |
Vertex Pharmaceuticals, Inc. * | 4,544 | 1,548,277 |
16,579,244 | ||
Real Estate Investment & Services — 0.3% | ||
CBRE Group, Inc., Class A * | 9,216 | 706,499 |
Real Estate Investment Trusts — 2.8% | ||
Crown Castle, Inc. | 1,842 | 226,732 |
CubeSmart | 8,488 | 386,119 |
Extra Space Storage, Inc. | 3,881 | 590,067 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 171 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Real Estate Investment Trusts — continued | ||
Gaming and Leisure Properties, Inc. | 6,673 | 346,996 |
Invitation Homes, Inc. | 15,321 | 511,262 |
Iron Mountain, Inc. | 11,805 | 652,108 |
Life Storage, Inc. | 4,486 | 602,829 |
Prologis, Inc. | 12,302 | 1,540,826 |
VICI Properties, Inc. | 17,915 | 608,035 |
Weyerhaeuser Co. | 21,654 | 647,671 |
WP Carey, Inc. | 7,125 | 528,675 |
6,641,320 | ||
Renewable Energy — 0.3% | ||
First Solar, Inc. * | 3,506 | 640,125 |
Retailers — 6.9% | ||
AutoNation, Inc. * | 3,798 | 500,197 |
AutoZone, Inc. * | 411 | 1,094,620 |
BJ's Wholesale Club Holdings, Inc. * | 8,024 | 612,793 |
Capri Holdings Ltd. * | 526 | 21,829 |
Costco Wholesale Corp. | 6,131 | 3,085,242 |
Dick's Sporting Goods, Inc. | 4,240 | 614,842 |
Dollar Tree, Inc. * | 5,636 | 866,310 |
GameStop Corp., Class A * (a) | 16,792 | 323,918 |
Home Depot, Inc. (The) | 12,827 | 3,855,027 |
Lowe's Cos., Inc. | 4,667 | 969,943 |
O'Reilly Automotive, Inc. * | 1,288 | 1,181,495 |
Penske Automotive Group, Inc. | 3,611 | 500,412 |
TJX Cos., Inc. (The) | 19,554 | 1,541,246 |
Tractor Supply Co. | 1,910 | 455,344 |
Ulta Beauty, Inc. * | 1,500 | 827,145 |
16,450,363 | ||
Software & Computer Services — 11.9% | ||
Alteryx, Inc., Class A * | 6,217 | 255,705 |
Amdocs Ltd. | 6,614 | 603,527 |
Bentley Systems, Inc., Class B | 3,755 | 159,813 |
Black Knight, Inc. * | 5,052 | 276,041 |
CACI International, Inc., Class A * | 1,887 | 591,235 |
Cadence Design Systems, Inc. * | 5,589 | 1,170,616 |
Ceridian HCM Holding, Inc. * | 8,014 | 508,729 |
Cloudflare, Inc., Class A * | 9,141 | 430,084 |
Concentrix Corp. | 122 | 11,774 |
Dolby Laboratories, Inc., Class A | 2,879 | 240,943 |
DXC Technology Co. * | 18,860 | 449,811 |
Dynatrace, Inc. * | 13,546 | 572,725 |
EPAM Systems, Inc. * | 2,200 | 621,368 |
Fortinet, Inc. * | 15,126 | 953,694 |
INVESTMENTS | SHARES | VALUE ($) |
Software & Computer Services — continued | ||
Gartner, Inc. * | 2,322 | 702,312 |
Gen Digital, Inc. | 1,816 | 32,089 |
GoDaddy, Inc., Class A * | 8,062 | 610,132 |
Hewlett Packard Enterprise Co. | 46,191 | 661,455 |
International Business Machines Corp. | 14,183 | 1,792,873 |
KBR, Inc. | 10,219 | 579,724 |
Kyndryl Holdings, Inc. * | 10,623 | 153,609 |
Leidos Holdings, Inc. | 6,047 | 563,943 |
Manhattan Associates, Inc. * | 3,971 | 657,915 |
Microsoft Corp. | 18,027 | 5,538,976 |
MongoDB, Inc. * | 1,785 | 428,329 |
NCR Corp. * | 2,857 | 63,683 |
New Relic, Inc. * | 3,568 | 255,005 |
Nutanix, Inc., Class A * | 6,441 | 154,455 |
Oracle Corp. | 23,161 | 2,193,810 |
Palo Alto Networks, Inc. * | 5,873 | 1,071,588 |
Paycom Software, Inc. * | 1,586 | 460,527 |
Pinterest, Inc., Class A * | 5,016 | 115,368 |
Procore Technologies, Inc. * | 7,435 | 397,103 |
PTC, Inc. * | 5,111 | 642,913 |
Roper Technologies, Inc. | 1,232 | 560,289 |
Science Applications International Corp. | 5,023 | 512,497 |
ServiceNow, Inc. * | 3,023 | 1,388,827 |
Synopsys, Inc. * | 3,065 | 1,138,096 |
VMware, Inc., Class A * | 5,377 | 672,286 |
Wix.com Ltd. (Israel) * | 3,984 | 347,524 |
28,541,393 | ||
Technology Hardware & Equipment — 14.5% | ||
Allegro MicroSystems, Inc. (Japan) * | 11,317 | 404,809 |
Amphenol Corp., Class A | 12,871 | 971,374 |
Analog Devices, Inc. | 8,416 | 1,513,870 |
Apple, Inc. | 29,629 | 5,027,449 |
Applied Materials, Inc. | 13,753 | 1,554,502 |
Avnet, Inc. | 11,746 | 484,640 |
Broadcom, Inc. | 5,340 | 3,345,510 |
CDW Corp. | 3,938 | 667,845 |
Cirrus Logic, Inc. * | 4,807 | 412,392 |
Corning, Inc. | 22,067 | 733,066 |
Dell Technologies, Inc., Class C | 12,685 | 551,671 |
GLOBALFOUNDRIES, Inc. * (a) | 7,913 | 465,284 |
HP, Inc. | 28,239 | 838,981 |
Jabil, Inc. | 7,119 | 556,350 |
KLA Corp. | 2,873 | 1,110,529 |
Lam Research Corp. | 2,532 | 1,326,971 |
172 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Technology Hardware & Equipment — continued | ||
Lattice Semiconductor Corp. * | 6,972 | 555,668 |
Marvell Technology, Inc. | 20,141 | 795,167 |
Microchip Technology, Inc. | 11,946 | 871,939 |
Monolithic Power Systems, Inc. | 1,476 | 681,868 |
National Instruments Corp. | 10,856 | 632,145 |
NetApp, Inc. | 8,959 | 563,431 |
NVIDIA Corp. | 20,091 | 5,575,052 |
ON Semiconductor Corp. * | 11,078 | 797,173 |
Pure Storage, Inc., Class A * | 22,797 | 520,455 |
TD SYNNEX Corp. | 3,507 | 312,263 |
Teradyne, Inc. | 6,467 | 590,954 |
Texas Instruments, Inc. | 13,254 | 2,216,069 |
Vertiv Holdings Co. | 20,324 | 303,234 |
Wolfspeed, Inc. * | 6,183 | 287,819 |
34,668,480 | ||
Telecommunications Equipment — 1.9% | ||
Arista Networks, Inc. * | 6,246 | 1,000,359 |
Cisco Systems, Inc. | 39,543 | 1,868,407 |
Juniper Networks, Inc. | 18,788 | 566,458 |
Motorola Solutions, Inc. | 3,705 | 1,079,637 |
4,514,861 | ||
Telecommunications Service Providers — 0.6% | ||
AT&T, Inc. | 62,783 | 1,109,376 |
T-Mobile US, Inc. * | 2,307 | 331,977 |
1,441,353 | ||
Travel & Leisure — 2.6% | ||
Aramark | 13,395 | 464,806 |
Boyd Gaming Corp. | 8,158 | 566,165 |
Chipotle Mexican Grill, Inc. * | 616 | 1,273,654 |
Choice Hotels International, Inc. | 266 | 33,920 |
Hilton Worldwide Holdings, Inc. | 6,277 | 904,014 |
Hyatt Hotels Corp., Class A * | 3,888 | 444,398 |
Las Vegas Sands Corp. * | 3,090 | 197,297 |
McDonald's Corp. | 7,484 | 2,213,393 |
6,097,647 |
INVESTMENTS | SHARES | VALUE ($) |
Waste & Disposal Services — 0.9% | ||
Republic Services, Inc. | 6,097 | 881,748 |
Waste Management, Inc. | 7,511 | 1,247,202 |
2,128,950 | ||
Total Common Stocks (Cost $229,768,423) | 238,515,459 | |
Short-Term Investments — 0.4% | ||
Investment Companies — 0.2% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (b) (c)(Cost $430,636) | 430,636 | 430,636 |
Investment of Cash Collateral from Securities Loaned — 0.2% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (b) (c)(Cost $509,082) | 509,082 | 509,082 |
Total Short-Term Investments (Cost $939,718) | 939,718 | |
Total Investments — 100.1% (Cost $230,708,141) | 239,455,177 | |
Liabilities in Excess of Other Assets — (0.1)% | (337,831 ) | |
NET ASSETS — 100.0% | 239,117,346 |
Percentages indicated are based on net assets. |
* | Non-income producing security. |
(a) | The security or a portion of this security is on loan at April 30, 2023. The total value of securities on loan at April 30, 2023 is $494,406. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of April 30, 2023. |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 173 |
AS OF April 30, 2023 (Unaudited) (continued)
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
Micro E-mini S&P 500 Index | 23 | 06/16/2023 | USD | 481,850 | 17,407 |
Abbreviations | |
USD | United States Dollar |
174 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — 99.9% | ||
Aerospace & Defense — 0.7% | ||
Lockheed Martin Corp. | 17,671 | 8,207,296 |
Automobiles & Parts — 0.7% | ||
Gentex Corp. | 61,674 | 1,701,585 |
Genuine Parts Co. | 21,316 | 3,587,696 |
LKQ Corp. | 49,649 | 2,866,237 |
8,155,518 | ||
Banks — 0.3% | ||
Bank of Hawaii Corp. (a) | 17,656 | 855,080 |
Commerce Bancshares, Inc. | 41,828 | 2,336,094 |
US Bancorp | 27,779 | 952,264 |
4,143,438 | ||
Beverages — 0.8% | ||
Brown-Forman Corp., Class B | 38,990 | 2,537,859 |
Coca-Cola Co. (The) | 107,188 | 6,876,110 |
9,413,969 | ||
Chemicals — 1.4% | ||
CF Industries Holdings, Inc. | 37,923 | 2,714,528 |
Linde plc | 32,028 | 11,832,745 |
Olin Corp. | 35,563 | 1,970,190 |
16,517,463 | ||
Construction & Materials — 0.9% | ||
A O Smith Corp. | 25,501 | 1,741,463 |
Acuity Brands, Inc. | 5,216 | 820,894 |
Advanced Drainage Systems, Inc. (a) | 18,614 | 1,595,592 |
Eagle Materials, Inc. | 8,457 | 1,253,412 |
Fortune Brands Innovations, Inc. | 29,985 | 1,939,730 |
Louisiana-Pacific Corp. | 14,257 | 851,713 |
Watsco, Inc. (a) | 8,537 | 2,957,046 |
11,159,850 | ||
Consumer Services — 1.1% | ||
Copart, Inc. * | 56,688 | 4,481,187 |
Grand Canyon Education, Inc. * | 22,302 | 2,647,247 |
H&R Block, Inc. | 72,844 | 2,470,140 |
Rollins, Inc. | 78,732 | 3,326,427 |
12,925,001 | ||
Electricity — 1.4% | ||
Consolidated Edison, Inc. | 40,743 | 4,011,963 |
Evergy, Inc. | 30,069 | 1,867,586 |
Hawaiian Electric Industries, Inc. | 32,197 | 1,262,444 |
IDACORP, Inc. | 17,324 | 1,925,043 |
NextEra Energy, Inc. | 37,967 | 2,909,411 |
INVESTMENTS | SHARES | VALUE ($) |
Electricity — continued | ||
NRG Energy, Inc. | 66,717 | 2,279,720 |
OGE Energy Corp. | 66,796 | 2,507,522 |
16,763,689 | ||
Electronic & Electrical Equipment — 1.2% | ||
Donaldson Co., Inc. | 34,018 | 2,161,844 |
IDEX Corp. | 14,069 | 2,902,716 |
Keysight Technologies, Inc. * | 23,418 | 3,387,180 |
Mettler-Toledo International, Inc. * | 2,754 | 4,107,591 |
Waters Corp. * | 8,062 | 2,421,502 |
14,980,833 | ||
Finance & Credit Services — 1.5% | ||
FactSet Research Systems, Inc. | 7,661 | 3,153,957 |
Moody's Corp. | 16,801 | 5,260,729 |
Morningstar, Inc. | 150 | 26,747 |
S&P Global, Inc. | 24,814 | 8,997,060 |
17,438,493 | ||
Food Producers — 0.4% | ||
General Mills, Inc. | 13,377 | 1,185,604 |
Hershey Co. (The) | 14,838 | 4,051,664 |
5,237,268 | ||
Gas, Water & Multi-utilities — 0.6% | ||
National Fuel Gas Co. | 44,377 | 2,480,674 |
UGI Corp. | 27,702 | 938,544 |
WEC Energy Group, Inc. | 39,949 | 3,841,895 |
7,261,113 | ||
General Industrials — 1.0% | ||
3M Co. | 42,947 | 4,561,830 |
Honeywell International, Inc. | 5,234 | 1,045,963 |
Illinois Tool Works, Inc. | 26,710 | 6,462,217 |
12,070,010 | ||
Health Care Providers — 0.4% | ||
Chemed Corp. | 5,291 | 2,916,664 |
DaVita, Inc. * (a) | 21,138 | 1,910,029 |
Premier, Inc., Class A | 16,915 | 563,777 |
5,390,470 | ||
Household Goods & Home Construction — 0.3% | ||
NVR, Inc. * | 607 | 3,544,880 |
Industrial Engineering — 0.6% | ||
Graco, Inc. | 39,702 | 3,147,971 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 175 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Industrial Engineering — continued | ||
Lincoln Electric Holdings, Inc. | 16,560 | 2,778,768 |
Nordson Corp. | 6,796 | 1,470,043 |
7,396,782 | ||
Industrial Metals & Mining — 0.5% | ||
Fastenal Co. | 16,306 | 877,915 |
Reliance Steel & Aluminum Co. | 12,081 | 2,993,672 |
Southern Copper Corp. (Mexico) | 34,353 | 2,639,341 |
6,510,928 | ||
Industrial Support Services — 6.9% | ||
Accenture plc, Class A | 40,900 | 11,463,861 |
Automatic Data Processing, Inc. | 30,987 | 6,817,140 |
Cintas Corp. | 10,025 | 4,569,094 |
Jack Henry & Associates, Inc. | 13,117 | 2,142,531 |
Mastercard, Inc., Class A | 54,264 | 20,621,948 |
Paychex, Inc. | 38,880 | 4,271,357 |
Verisk Analytics, Inc. (a) | 17,029 | 3,305,499 |
Visa, Inc., Class A (a) | 101,776 | 23,686,328 |
Western Union Co. (The) | 188,817 | 2,063,770 |
WW Grainger, Inc. | 5,876 | 4,087,169 |
83,028,697 | ||
Industrial Transportation — 1.7% | ||
Allison Transmission Holdings, Inc. | 35,592 | 1,736,534 |
CH Robinson Worldwide, Inc. | 29,456 | 2,971,227 |
Expeditors International of Washington, Inc. | 30,303 | 3,449,693 |
Landstar System, Inc. | 14,786 | 2,602,780 |
Union Pacific Corp. | 45,645 | 8,932,726 |
United Parcel Service, Inc., Class B | 4,644 | 835,038 |
20,527,998 | ||
Investment Banking & Brokerage Services — 4.1% | ||
Ameriprise Financial, Inc. | 10,919 | 3,331,605 |
Berkshire Hathaway, Inc., Class B * | 69,824 | 22,940,675 |
BlackRock, Inc. | 9,907 | 6,649,578 |
Broadridge Financial Solutions, Inc. | 22,791 | 3,314,039 |
Intercontinental Exchange, Inc. | 38,953 | 4,243,150 |
MarketAxess Holdings, Inc. | 3,839 | 1,222,223 |
Nasdaq, Inc. | 60,977 | 3,376,297 |
SEI Investments Co. | 44,137 | 2,600,111 |
Virtu Financial, Inc., Class A | 52,975 | 1,062,149 |
48,739,827 |
INVESTMENTS | SHARES | VALUE ($) |
Leisure Goods — 0.8% | ||
Activision Blizzard, Inc. * | 65,960 | 5,125,752 |
Electronic Arts, Inc. | 30,461 | 3,877,076 |
9,002,828 | ||
Life Insurance — 0.9% | ||
Aflac, Inc. | 68,435 | 4,780,185 |
Globe Life, Inc. | 23,970 | 2,601,224 |
Principal Financial Group, Inc. | 40,118 | 2,996,414 |
10,377,823 | ||
Media — 0.7% | ||
Omnicom Group, Inc. | 36,757 | 3,329,081 |
Sirius XM Holdings, Inc. (a) | 435,687 | 1,655,611 |
World Wrestling Entertainment, Inc., Class A (a) | 30,370 | 3,254,753 |
8,239,445 | ||
Medical Equipment & Services — 2.0% | ||
Abbott Laboratories | 75,314 | 8,319,938 |
Bio-Techne Corp. | 7,109 | 567,867 |
Edwards Lifesciences Corp. * | 56,328 | 4,955,737 |
Enovis Corp. * | 18,985 | 1,105,876 |
Hologic, Inc. * | 37,226 | 3,201,808 |
IDEXX Laboratories, Inc. * | 8,750 | 4,306,400 |
QuidelOrtho Corp. * | 12,083 | 1,086,866 |
23,544,492 | ||
Non-life Insurance — 4.1% | ||
American Financial Group, Inc. | 11,394 | 1,398,386 |
Aon plc, Class A | 19,169 | 6,233,375 |
Arch Capital Group Ltd. * | 52,730 | 3,958,441 |
Arthur J Gallagher & Co. | 23,984 | 4,990,111 |
Brown & Brown, Inc. | 47,750 | 3,074,623 |
Chubb Ltd. | 24,599 | 4,958,174 |
Erie Indemnity Co., Class A (a) | 9,667 | 2,100,929 |
Fidelity National Financial, Inc. | 49,820 | 1,768,112 |
Hanover Insurance Group, Inc. (The) | 5,328 | 637,016 |
Marsh & McLennan Cos., Inc. | 42,112 | 7,588,161 |
Progressive Corp. (The) | 40,149 | 5,476,324 |
Travelers Cos., Inc. (The) | 25,782 | 4,670,151 |
WR Berkley Corp. | 45,930 | 2,706,196 |
49,559,999 | ||
Non-Renewable Energy — 4.9% | ||
Antero Midstream Corp. | 35,456 | 381,506 |
APA Corp. | 60,021 | 2,211,774 |
Chevron Corp. | 81,201 | 13,688,865 |
176 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Non-Renewable Energy — continued | ||
ConocoPhillips | 30,929 | 3,182,285 |
Coterra Energy, Inc. | 108,475 | 2,776,960 |
Devon Energy Corp. | 53,468 | 2,856,795 |
EOG Resources, Inc. | 44,678 | 5,337,681 |
Exxon Mobil Corp. | 176,054 | 20,834,230 |
PDC Energy, Inc. | 31,041 | 2,019,217 |
Pioneer Natural Resources Co. | 15,534 | 3,379,422 |
Texas Pacific Land Corp. | 1,148 | 1,696,342 |
58,365,077 | ||
Personal Care, Drug & Grocery Stores — 3.3% | ||
Church & Dwight Co., Inc. | 21,753 | 2,112,651 |
Clorox Co. (The) | 17,711 | 2,933,296 |
Colgate-Palmolive Co. | 72,856 | 5,813,909 |
Kimberly-Clark Corp. | 11,658 | 1,689,127 |
McKesson Corp. | 14,059 | 5,120,850 |
Procter & Gamble Co. (The) | 137,707 | 21,534,621 |
39,204,454 | ||
Personal Goods — 0.6% | ||
Estee Lauder Cos., Inc. (The), Class A | 20,528 | 5,064,668 |
Tapestry, Inc. (a) | 65,446 | 2,670,851 |
7,735,519 | ||
Pharmaceuticals, Biotechnology & Marijuana Producers — 11.3% | ||
AbbVie, Inc. | 110,472 | 16,694,529 |
Amgen, Inc. | 37,316 | 8,946,138 |
Biogen, Inc. * | 11,518 | 3,504,121 |
Bristol-Myers Squibb Co. | 86,304 | 5,762,518 |
Eli Lilly & Co. | 46,515 | 18,413,428 |
Gilead Sciences, Inc. | 88,549 | 7,279,613 |
Incyte Corp. * | 24,294 | 1,807,717 |
Johnson & Johnson | 118,921 | 19,467,368 |
Merck & Co., Inc. | 160,182 | 18,496,215 |
Moderna, Inc. * | 29,019 | 3,856,335 |
Pfizer, Inc. | 324,713 | 12,628,089 |
Regeneron Pharmaceuticals, Inc. * | 6,926 | 5,553,197 |
Vertex Pharmaceuticals, Inc. * | 21,684 | 7,388,389 |
Zoetis, Inc. | 34,922 | 6,138,589 |
135,936,246 | ||
Precious Metals & Mining — 0.2% | ||
Newmont Corp. | 48,894 | 2,317,576 |
INVESTMENTS | SHARES | VALUE ($) |
Real Estate Investment & Services — 0.5% | ||
CBRE Group, Inc., Class A * | 44,717 | 3,428,005 |
Zillow Group, Inc., Class C * | 62,592 | 2,725,256 |
6,153,261 | ||
Real Estate Investment Trusts — 2.4% | ||
Camden Property Trust | 15,132 | 1,665,277 |
Crown Castle, Inc. | 18,858 | 2,321,231 |
Equity LifeStyle Properties, Inc. | 31,798 | 2,190,882 |
Equity Residential | 20,299 | 1,283,912 |
Extra Space Storage, Inc. (a) | 18,219 | 2,770,017 |
Gaming and Leisure Properties, Inc. | 21,825 | 1,134,900 |
Host Hotels & Resorts, Inc. | 131,274 | 2,122,701 |
Lamar Advertising Co., Class A | 26,888 | 2,841,524 |
Life Storage, Inc. | 7,941 | 1,067,112 |
Public Storage | 14,526 | 4,282,700 |
Rayonier, Inc. | 24,875 | 780,080 |
Simon Property Group, Inc. | 27,967 | 3,169,220 |
Weyerhaeuser Co. | 113,999 | 3,409,710 |
29,039,266 | ||
Retailers — 4.7% | ||
AutoZone, Inc. * | 1,977 | 5,265,364 |
Costco Wholesale Corp. | 29,797 | 14,994,446 |
Dollar General Corp. | 20,582 | 4,558,090 |
Home Depot, Inc. (The) | 58,793 | 17,669,648 |
Lowe's Cos., Inc. | 2,453 | 509,807 |
O'Reilly Automotive, Inc. * | 6,262 | 5,744,195 |
Tractor Supply Co. | 6,881 | 1,640,430 |
Ulta Beauty, Inc. * | 7,314 | 4,033,159 |
Williams-Sonoma, Inc. (a) | 19,517 | 2,362,338 |
56,777,477 | ||
Software & Computer Services — 16.4% | ||
Adobe, Inc. * | 32,471 | 12,259,751 |
Akamai Technologies, Inc. * | 39,636 | 3,248,963 |
Alphabet, Inc., Class A * | 248,692 | 26,694,599 |
Amdocs Ltd. | 32,115 | 2,930,494 |
Aspen Technology, Inc. * | 5,639 | 998,103 |
Atlassian Corp., Class A * | 21,239 | 3,136,151 |
Autodesk, Inc. * | 23,427 | 4,563,345 |
Cadence Design Systems, Inc. * | 27,203 | 5,697,668 |
Cognizant Technology Solutions Corp., Class A | 66,233 | 3,954,772 |
Crowdstrike Holdings, Inc., Class A * | 17,362 | 2,084,308 |
DocuSign, Inc. * | 46,701 | 2,308,897 |
Dolby Laboratories, Inc., Class A | 31,115 | 2,604,014 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 177 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Software & Computer Services — continued | ||
Dropbox, Inc., Class A * | 116,146 | 2,362,410 |
Dynatrace, Inc. * | 65,644 | 2,775,428 |
F5, Inc. * | 19,418 | 2,609,003 |
Fortinet, Inc. * | 74,739 | 4,712,294 |
Gartner, Inc. * | 11,310 | 3,420,823 |
International Business Machines Corp. | 56,031 | 7,082,879 |
Intuit, Inc. | 19,591 | 8,697,425 |
Manhattan Associates, Inc. * | 19,371 | 3,209,387 |
Meta Platforms, Inc., Class A * | 125,734 | 30,216,395 |
Microsoft Corp. | 91,240 | 28,034,402 |
Palo Alto Networks, Inc. * | 28,905 | 5,274,006 |
Paycom Software, Inc. * | 10,853 | 3,151,386 |
Pinterest, Inc., Class A * | 68,831 | 1,583,113 |
ServiceNow, Inc. * | 16,666 | 7,656,694 |
Synopsys, Inc. * | 14,875 | 5,523,385 |
Teradata Corp. * | 63,186 | 2,445,930 |
VeriSign, Inc. * | 16,864 | 3,740,435 |
VMware, Inc., Class A * | 31,497 | 3,938,070 |
196,914,530 | ||
Technology Hardware & Equipment — 10.5% | ||
Amphenol Corp., Class A | 26,420 | 1,993,917 |
Analog Devices, Inc. | 40,932 | 7,362,848 |
Apple, Inc. | 154,210 | 26,166,353 |
Applied Materials, Inc. | 66,861 | 7,557,299 |
Broadcom, Inc. | 25,901 | 16,226,977 |
Cirrus Logic, Inc. * | 16,177 | 1,387,825 |
Corning, Inc. | 46,372 | 1,540,478 |
IPG Photonics Corp. * | 11,717 | 1,347,221 |
KLA Corp. | 13,902 | 5,373,679 |
Lattice Semiconductor Corp. * | 33,832 | 2,696,410 |
Microchip Technology, Inc. | 58,253 | 4,251,886 |
NetApp, Inc. | 27,131 | 1,706,269 |
NVIDIA Corp. | 97,501 | 27,055,553 |
Pure Storage, Inc., Class A * | 110,493 | 2,522,555 |
Qorvo, Inc. * | 28,186 | 2,595,367 |
Skyworks Solutions, Inc. | 25,747 | 2,726,607 |
Teradyne, Inc. | 31,519 | 2,880,206 |
Texas Instruments, Inc. | 64,256 | 10,743,603 |
126,135,053 | ||
Telecommunications Equipment — 1.3% | ||
Cisco Systems, Inc. | 246,741 | 11,658,512 |
INVESTMENTS | SHARES | VALUE ($) |
Telecommunications Equipment — continued | ||
Motorola Solutions, Inc. | 7,995 | 2,329,743 |
Ubiquiti, Inc. | 4,906 | 1,140,891 |
15,129,146 | ||
Telecommunications Service Providers — 1.1% | ||
AT&T, Inc. | 172,095 | 3,040,919 |
Charter Communications, Inc., Class A * | 3,157 | 1,163,986 |
Verizon Communications, Inc. | 224,074 | 8,700,793 |
12,905,698 | ||
Tobacco — 1.3% | ||
Altria Group, Inc. | 145,711 | 6,922,729 |
Philip Morris International, Inc. | 88,176 | 8,814,955 |
15,737,684 | ||
Travel & Leisure — 5.3% | ||
Airbnb, Inc., Class A * | 39,534 | 4,731,034 |
Booking Holdings, Inc. * | 3,063 | 8,228,167 |
Boyd Gaming Corp. | 25,781 | 1,789,201 |
Choice Hotels International, Inc. (a) | 20,501 | 2,614,287 |
Copa Holdings SA, Class A (Panama) | 22,396 | 2,022,807 |
Darden Restaurants, Inc. | 22,757 | 3,457,471 |
Expedia Group, Inc. * | 29,851 | 2,804,800 |
Live Nation Entertainment, Inc. * | 32,278 | 2,187,803 |
Madison Square Garden Sports Corp. | 7,870 | 1,577,935 |
Marriott International, Inc., Class A | 28,405 | 4,810,103 |
McDonald's Corp. | 48,313 | 14,288,570 |
Starbucks Corp. | 85,486 | 9,770,195 |
Wyndham Hotels & Resorts, Inc. * | 17,804 | 1,214,589 |
Yum! Brands, Inc. | 33,732 | 4,742,045 |
64,239,007 | ||
Waste & Disposal Services — 1.1% | ||
Clean Harbors, Inc. * | 15,061 | 2,186,255 |
Republic Services, Inc. | 28,745 | 4,157,102 |
Waste Management, Inc. | 38,600 | 6,409,530 |
12,752,887 | ||
Total Common Stocks (Cost $1,141,379,066) | 1,199,480,991 | |
Short-Term Investments — 3.2% | ||
Investment Companies — 0.0% ^ | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (b) (c)(Cost $807,992) | 807,992 | 807,992 |
178 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Short-Term Investments — continued | ||
Investment of Cash Collateral from Securities Loaned — 3.2% | ||
JPMorgan Securities Lending Money Market Fund Class Agency SL Shares, 5.01% (b) (c) | 33,509,316 | 33,512,667 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (b) (c) | 4,653,123 | 4,653,123 |
Total Investment of Cash Collateral from Securities Loaned (Cost $38,169,895) | 38,165,790 | |
Total Short-Term Investments (Cost $38,977,887) | 38,973,782 | |
Total Investments — 103.1% (Cost $1,180,356,953) | 1,238,454,773 | |
Liabilities in Excess of Other Assets — (3.1)% | (37,388,737 ) | |
NET ASSETS — 100.0% | 1,201,066,036 |
Percentages indicated are based on net assets. |
^ | Amount rounds to less than 0.1% of net assets. |
* | Non-income producing security. | |
(a) | The security or a portion of this security is on loan at April 30, 2023. The total value of securities on loan at April 30, 2023 is $37,814,933. | |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(c) | The rate shown is the current yield as of April 30, 2023. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 4 | 06/16/2023 | USD | 837,800 | 48,379 |
Abbreviations | |
USD | United States Dollar |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 179 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — 99.9% | ||
Aerospace & Defense — 1.5% | ||
General Dynamics Corp. | 8,726 | 1,905,235 |
Huntington Ingalls Industries, Inc. | 3,948 | 796,154 |
L3Harris Technologies, Inc. | 8,573 | 1,673,021 |
Raytheon Technologies Corp. | 28,336 | 2,830,766 |
Textron, Inc. | 15,060 | 1,008,116 |
8,213,292 | ||
Automobiles & Parts — 2.1% | ||
BorgWarner, Inc. | 29,136 | 1,402,316 |
Ford Motor Co. | 180,819 | 2,148,130 |
General Motors Co. | 65,518 | 2,164,715 |
Gentex Corp. | 45,210 | 1,247,344 |
Genuine Parts Co. | 10,447 | 1,758,334 |
Lear Corp. | 9,751 | 1,244,813 |
LKQ Corp. | 27,043 | 1,561,192 |
11,526,844 | ||
Banks — 4.1% | ||
Bank OZK | 14,540 | 519,369 |
BOK Financial Corp. | 6,126 | 513,788 |
Citigroup, Inc. | 76,102 | 3,582,121 |
Citizens Financial Group, Inc. | 41,615 | 1,287,568 |
Columbia Banking System, Inc. | 30,505 | 651,587 |
Comerica, Inc. | 17,704 | 767,822 |
Fifth Third Bancorp | 50,039 | 1,311,022 |
First Hawaiian, Inc. | 31,752 | 606,781 |
FNB Corp. | 90,951 | 1,044,118 |
Huntington Bancshares, Inc. | 115,332 | 1,291,718 |
KeyCorp | 88,590 | 997,523 |
New York Community Bancorp, Inc. | 151,835 | 1,623,116 |
PacWest Bancorp | 45,063 | 457,389 |
Popular, Inc. (Puerto Rico) | 18,328 | 1,099,863 |
Prosperity Bancshares, Inc. | 6,512 | 407,781 |
Regions Financial Corp. | 75,140 | 1,372,056 |
Synovus Financial Corp. | 31,882 | 981,966 |
Truist Financial Corp. | 62,218 | 2,027,062 |
US Bancorp | 60,441 | 2,071,918 |
Zions Bancorp NA | 18,332 | 510,730 |
23,125,298 | ||
Beverages — 0.4% | ||
Keurig Dr Pepper, Inc. | 23,902 | 781,596 |
Molson Coors Beverage Co., Class B | 25,661 | 1,526,316 |
2,307,912 |
INVESTMENTS | SHARES | VALUE ($) |
Chemicals — 0.9% | ||
Chemours Co. (The) | 11,075 | 321,950 |
Dow, Inc. | 34,697 | 1,887,517 |
Huntsman Corp. | 42,861 | 1,148,246 |
LyondellBasell Industries NV, Class A | 18,369 | 1,737,891 |
5,095,604 | ||
Construction & Materials — 1.1% | ||
Acuity Brands, Inc. | 4,472 | 703,803 |
Builders FirstSource, Inc. * | 12,379 | 1,173,158 |
Fortune Brands Innovations, Inc. | 12,393 | 801,703 |
Louisiana-Pacific Corp. | 19,653 | 1,174,070 |
MDU Resources Group, Inc. | 23,280 | 680,242 |
Owens Corning | 13,982 | 1,493,418 |
6,026,394 | ||
Consumer Services — 0.9% | ||
eBay, Inc. | 40,422 | 1,876,793 |
Grand Canyon Education, Inc. * | 3,153 | 374,261 |
H&R Block, Inc. | 36,101 | 1,224,185 |
Service Corp. International | 20,606 | 1,446,335 |
U-Haul Holding Co. | 847 | 51,718 |
4,973,292 | ||
Electricity — 2.3% | ||
Avangrid, Inc. | 15,333 | 617,306 |
Consolidated Edison, Inc. | 18,221 | 1,794,222 |
Dominion Energy, Inc. | 6,387 | 364,953 |
Evergy, Inc. | 17,011 | 1,056,553 |
Exelon Corp. | 15,873 | 673,650 |
Hawaiian Electric Industries, Inc. | 21,966 | 861,287 |
NRG Energy, Inc. | 40,113 | 1,370,661 |
OGE Energy Corp. | 34,635 | 1,300,198 |
Pinnacle West Capital Corp. | 18,193 | 1,427,423 |
PPL Corp. | 57,940 | 1,664,037 |
Southern Co. (The) | 26,303 | 1,934,586 |
13,064,876 | ||
Electronic & Electrical Equipment — 1.8% | ||
Crane Co. * | 10,659 | 768,194 |
Crane NXT Co. | 10,659 | 504,810 |
Emerson Electric Co. | 23,944 | 1,993,578 |
Hubbell, Inc. | 6,072 | 1,635,311 |
Johnson Controls International plc | 32,120 | 1,922,061 |
MKS Instruments, Inc. | 10,766 | 902,944 |
180 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Electronic & Electrical Equipment — continued | ||
nVent Electric plc | 29,467 | 1,235,551 |
Pentair plc | 22,324 | 1,296,578 |
10,259,027 | ||
Finance & Credit Services — 0.7% | ||
Ally Financial, Inc. | 45,978 | 1,212,899 |
MGIC Investment Corp. | 90,925 | 1,352,055 |
OneMain Holdings, Inc. | 29,557 | 1,134,102 |
3,699,056 | ||
Food Producers — 2.8% | ||
Archer-Daniels-Midland Co. | 27,717 | 2,164,143 |
Bunge Ltd. | 3,883 | 363,449 |
Campbell Soup Co. | 27,014 | 1,466,860 |
Conagra Brands, Inc. | 45,045 | 1,709,908 |
General Mills, Inc. | 29,859 | 2,646,403 |
Ingredion, Inc. | 7,442 | 790,117 |
J M Smucker Co. (The) | 10,230 | 1,579,614 |
Kellogg Co. | 14,702 | 1,025,759 |
Kraft Heinz Co. (The) | 47,705 | 1,873,375 |
Post Holdings, Inc. * | 9,858 | 892,051 |
Tyson Foods, Inc., Class A | 22,569 | 1,410,337 |
15,922,016 | ||
Gas, Water & Multi-utilities — 0.9% | ||
Duke Energy Corp. | 31,095 | 3,074,674 |
National Fuel Gas Co. | 11,114 | 621,273 |
UGI Corp. | 32,363 | 1,096,458 |
4,792,405 | ||
General Industrials — 2.8% | ||
3M Co. | 19,218 | 2,041,336 |
Amcor plc | 84,330 | 925,100 |
Berry Global Group, Inc. | 12,393 | 716,439 |
Dover Corp. | 10,235 | 1,495,948 |
DuPont de Nemours, Inc. | 28,162 | 1,963,455 |
Eaton Corp. plc | 16,970 | 2,836,026 |
Packaging Corp. of America | 10,584 | 1,431,592 |
Parker-Hannifin Corp. | 6,773 | 2,200,412 |
Silgan Holdings, Inc. | 21,310 | 1,049,731 |
WestRock Co. | 40,459 | 1,210,938 |
15,870,977 | ||
Health Care Providers — 4.6% | ||
Centene Corp. * | 23,039 | 1,588,078 |
Cigna Group (The) | 12,205 | 3,091,405 |
Elevance Health, Inc. | 9,042 | 4,237,533 |
INVESTMENTS | SHARES | VALUE ($) |
Health Care Providers — continued | ||
Encompass Health Corp. | 9,423 | 604,485 |
Enhabit, Inc. * | 28,675 | 351,269 |
Humana, Inc. | 5,161 | 2,737,859 |
Premier, Inc., Class A | 25,676 | 855,781 |
UnitedHealth Group, Inc. | 21,700 | 10,678,353 |
Universal Health Services, Inc., Class B | 9,422 | 1,416,598 |
25,561,361 | ||
Household Goods & Home Construction — 2.0% | ||
DR Horton, Inc. | 21,382 | 2,348,171 |
Leggett & Platt, Inc. (a) | 36,814 | 1,189,461 |
Lennar Corp., Class A | 18,932 | 2,135,719 |
Newell Brands, Inc. | 89,594 | 1,088,567 |
PulteGroup, Inc. | 27,153 | 1,823,324 |
Toll Brothers, Inc. | 22,222 | 1,420,208 |
Whirlpool Corp. | 9,461 | 1,320,661 |
11,326,111 | ||
Industrial Engineering — 1.8% | ||
AGCO Corp. | 9,590 | 1,188,585 |
Brunswick Corp. | 9,747 | 826,448 |
Caterpillar, Inc. | 17,021 | 3,724,195 |
Cummins, Inc. | 7,610 | 1,788,654 |
Snap-on, Inc. | 6,136 | 1,591,740 |
Stanley Black & Decker, Inc. | 10,053 | 867,976 |
9,987,598 | ||
Industrial Materials — 0.2% | ||
International Paper Co. | 34,503 | 1,142,394 |
Industrial Metals & Mining — 0.9% | ||
Cleveland-Cliffs, Inc. * | 45,461 | 699,190 |
Nucor Corp. | 13,572 | 2,011,099 |
Reliance Steel & Aluminum Co. | 6,005 | 1,488,039 |
United States Steel Corp. | 31,890 | 729,643 |
4,927,971 | ||
Industrial Support Services — 1.5% | ||
ADT, Inc. | 77,136 | 516,811 |
Capital One Financial Corp. | 21,264 | 2,068,987 |
Fidelity National Information Services, Inc. | 9,980 | 586,026 |
ManpowerGroup, Inc. | 14,540 | 1,100,823 |
MSC Industrial Direct Co., Inc., Class A | 12,860 | 1,166,788 |
Robert Half International, Inc. | 7,442 | 543,266 |
Synchrony Financial | 43,739 | 1,290,738 |
Western Union Co. (The) | 88,033 | 962,201 |
8,235,640 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 181 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Industrial Transportation — 2.6% | ||
Allison Transmission Holdings, Inc. | 26,252 | 1,280,835 |
FedEx Corp. | 12,103 | 2,756,821 |
Knight-Swift Transportation Holdings, Inc. | 23,749 | 1,337,544 |
Norfolk Southern Corp. | 9,585 | 1,946,043 |
Oshkosh Corp. | 6,458 | 494,166 |
PACCAR, Inc. | 26,404 | 1,972,115 |
Ryder System, Inc. | 12,956 | 1,025,597 |
Schneider National, Inc., Class B | 23,403 | 612,456 |
Union Pacific Corp. | 15,403 | 3,014,367 |
14,439,944 | ||
Investment Banking & Brokerage Services — 1.6% | ||
Bank of New York Mellon Corp. (The) | 43,337 | 1,845,723 |
Carlyle Group, Inc. (The) | 38,157 | 1,157,301 |
Franklin Resources, Inc. | 46,740 | 1,256,371 |
Invesco Ltd. | 74,614 | 1,278,138 |
Janus Henderson Group plc | 32,322 | 838,756 |
Jefferies Financial Group, Inc. | 36,267 | 1,161,632 |
State Street Corp. | 22,369 | 1,616,384 |
9,154,305 | ||
Leisure Goods — 1.4% | ||
Activision Blizzard, Inc. * | 32,954 | 2,560,855 |
Garmin Ltd. | 15,871 | 1,558,056 |
Harley-Davidson, Inc. | 27,899 | 1,035,053 |
Hasbro, Inc. | 16,327 | 966,885 |
Polaris, Inc. | 6,413 | 696,773 |
Thor Industries, Inc. | 13,956 | 1,102,803 |
7,920,425 | ||
Life Insurance — 0.8% | ||
Principal Financial Group, Inc. | 19,872 | 1,484,240 |
Prudential Financial, Inc. | 21,591 | 1,878,417 |
Unum Group | 30,870 | 1,302,714 |
4,665,371 | ||
Media — 1.7% | ||
Fox Corp., Class A | 41,071 | 1,366,021 |
Interpublic Group of Cos., Inc. (The) | 43,009 | 1,536,712 |
Liberty Media Corp.-Liberty SiriusXM, Class C * | 32,563 | 909,810 |
News Corp., Class A | 77,139 | 1,358,418 |
Nexstar Media Group, Inc. | 7,305 | 1,267,052 |
Omnicom Group, Inc. | 18,343 | 1,661,326 |
Paramount Global, Class B (a) | 66,860 | 1,559,844 |
9,659,183 |
INVESTMENTS | SHARES | VALUE ($) |
Medical Equipment & Services — 2.2% | ||
Azenta, Inc. * | 12,081 | 525,403 |
Becton Dickinson & Co. | 9,567 | 2,528,654 |
Laboratory Corp. of America Holdings | 4,475 | 1,014,527 |
Medtronic plc | 43,702 | 3,974,697 |
PerkinElmer, Inc. | 6,756 | 881,590 |
Quest Diagnostics, Inc. | 10,774 | 1,495,539 |
QuidelOrtho Corp. * | 7,783 | 700,081 |
Zimmer Biomet Holdings, Inc. | 8,447 | 1,169,402 |
12,289,893 | ||
Mortgage Real Estate Investment Trusts — 0.8% | ||
AGNC Investment Corp. | 92,139 | 913,098 |
Annaly Capital Management, Inc. | 69,482 | 1,388,250 |
Rithm Capital Corp. | 138,951 | 1,133,840 |
Starwood Property Trust, Inc. (a) | 66,567 | 1,190,884 |
4,626,072 | ||
Non-life Insurance — 1.6% | ||
American International Group, Inc. | 39,783 | 2,110,090 |
Assured Guaranty Ltd. | 20,133 | 1,084,564 |
Axis Capital Holdings Ltd. | 12,263 | 693,350 |
Fidelity National Financial, Inc. | 37,422 | 1,328,107 |
First American Financial Corp. | 23,908 | 1,377,340 |
Old Republic International Corp. | 52,033 | 1,314,874 |
Reinsurance Group of America, Inc. | 6,568 | 934,758 |
8,843,083 | ||
Non-Renewable Energy — 4.9% | ||
Antero Midstream Corp. | 60,568 | 651,712 |
Antero Resources Corp. * | 50,025 | 1,150,075 |
Chesapeake Energy Corp. | 16,997 | 1,405,312 |
Chevron Corp. | 30,017 | 5,060,266 |
Coterra Energy, Inc. | 65,464 | 1,675,878 |
Diamondback Energy, Inc. | 9,969 | 1,417,592 |
DT Midstream, Inc. | 8,325 | 410,173 |
HF Sinclair Corp. | 25,263 | 1,114,351 |
Kinder Morgan, Inc. | 111,053 | 1,904,559 |
Marathon Oil Corp. | 60,877 | 1,470,788 |
Marathon Petroleum Corp. | 21,297 | 2,598,234 |
Ovintiv, Inc. | 31,794 | 1,147,128 |
PDC Energy, Inc. | 13,268 | 863,083 |
Phillips 66 | 23,916 | 2,367,684 |
Pioneer Natural Resources Co. | 12,138 | 2,640,622 |
Valero Energy Corp. | 11,166 | 1,280,405 |
Vitesse Energy, Inc. | 3,583 | 65,927 |
27,223,789 |
182 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Personal Care, Drug & Grocery Stores — 1.5% | ||
Albertsons Cos., Inc., Class A | 59,657 | 1,246,831 |
CVS Health Corp. | 49,784 | 3,649,665 |
Kroger Co. (The) | 33,062 | 1,607,805 |
Walgreens Boots Alliance, Inc. | 48,078 | 1,694,750 |
8,199,051 | ||
Personal Goods — 1.2% | ||
Carter's, Inc. | 16,352 | 1,140,879 |
Columbia Sportswear Co. | 8,233 | 687,785 |
PVH Corp. | 15,592 | 1,337,949 |
Ralph Lauren Corp. | 10,978 | 1,260,165 |
Tapestry, Inc. | 32,442 | 1,323,958 |
VF Corp. | 30,227 | 710,637 |
6,461,373 | ||
Pharmaceuticals, Biotechnology & Marijuana Producers — 7.4% | ||
Amgen, Inc. | 14,850 | 3,560,139 |
Biogen, Inc. * | 4,266 | 1,297,845 |
Bristol-Myers Squibb Co. | 62,746 | 4,189,551 |
Gilead Sciences, Inc. | 41,671 | 3,425,773 |
Johnson & Johnson | 57,712 | 9,447,455 |
Merck & Co., Inc. | 73,994 | 8,544,087 |
Moderna, Inc. * | 8,679 | 1,153,352 |
Perrigo Co. plc | 7,463 | 277,549 |
Pfizer, Inc. | 166,216 | 6,464,140 |
Syneos Health, Inc. * | 18,978 | 745,076 |
United Therapeutics Corp. * | 5,254 | 1,209,103 |
Viatris, Inc. | 128,372 | 1,197,711 |
41,511,781 | ||
Real Estate Investment & Services — 0.1% | ||
Jones Lang LaSalle, Inc. * | 5,135 | 713,970 |
Real Estate Investment Trusts — 2.8% | ||
Brixmor Property Group, Inc. | 1,771 | 37,775 |
Cousins Properties, Inc. | 28,520 | 622,021 |
EPR Properties | 27,793 | 1,166,194 |
Equity Residential | 16,057 | 1,015,605 |
Gaming and Leisure Properties, Inc. | 15,586 | 810,472 |
Highwoods Properties, Inc. | 40,579 | 930,071 |
Kilroy Realty Corp. | 24,221 | 708,222 |
Kimco Realty Corp. | 68,280 | 1,310,293 |
Medical Properties Trust, Inc. | 125,665 | 1,102,082 |
National Retail Properties, Inc. | 17,681 | 769,124 |
Omega Healthcare Investors, Inc. | 49,059 | 1,312,819 |
Park Hotels & Resorts, Inc. | 38,131 | 459,479 |
Regency Centers Corp. | 13,215 | 811,797 |
INVESTMENTS | SHARES | VALUE ($) |
Real Estate Investment Trusts — continued | ||
Simon Property Group, Inc. | 14,014 | 1,588,067 |
SL Green Realty Corp. (a) | 27,243 | 644,842 |
Vornado Realty Trust | 46,085 | 691,736 |
Welltower, Inc. | 7,590 | 601,280 |
Weyerhaeuser Co. | 12,964 | 387,753 |
WP Carey, Inc. | 10,641 | 789,562 |
15,759,194 | ||
Retailers — 2.7% | ||
Advance Auto Parts, Inc. | 9,969 | 1,251,409 |
AutoNation, Inc. * | 9,090 | 1,197,153 |
Bath & Body Works, Inc. | 20,313 | 712,986 |
Best Buy Co., Inc. | 19,327 | 1,440,248 |
Capri Holdings Ltd. * | 15,302 | 635,033 |
CarMax, Inc. * | 12,176 | 852,685 |
Dick's Sporting Goods, Inc. | 10,329 | 1,497,808 |
Gap, Inc. (The) | 85,563 | 821,405 |
Kohl's Corp. | 44,207 | 973,880 |
Lithia Motors, Inc., Class A | 4,972 | 1,098,265 |
Macy's, Inc. | 58,264 | 952,034 |
Nordstrom, Inc. | 61,232 | 946,647 |
Penske Automotive Group, Inc. | 8,713 | 1,207,448 |
Victoria's Secret & Co. * | 13,710 | 425,147 |
Williams-Sonoma, Inc. | 11,182 | 1,353,469 |
15,365,617 | ||
Software & Computer Services — 13.9% | ||
Akamai Technologies, Inc. * | 11,533 | 945,360 |
Alphabet, Inc., Class A * | 107,929 | 11,585,099 |
Amdocs Ltd. | 15,918 | 1,452,517 |
Black Knight, Inc. * | 13,740 | 750,754 |
CACI International, Inc., Class A * | 4,575 | 1,433,439 |
Cognizant Technology Solutions Corp., Class A | 33,018 | 1,971,505 |
Concentrix Corp. | 9,481 | 915,011 |
Dolby Laboratories, Inc., Class A | 15,683 | 1,312,510 |
Dun & Bradstreet Holdings, Inc. | 72,743 | 812,539 |
DXC Technology Co. * | 46,181 | 1,101,417 |
F5, Inc. * | 5,547 | 745,295 |
Gen Digital, Inc. | 46,808 | 827,097 |
Hewlett Packard Enterprise Co. | 110,925 | 1,588,446 |
International Business Machines Corp. | 32,854 | 4,153,074 |
Intuit, Inc. | 8,429 | 3,742,054 |
KBR, Inc. | 14,360 | 814,643 |
Leidos Holdings, Inc. | 15,638 | 1,458,400 |
Meta Platforms, Inc., Class A * | 54,539 | 13,106,812 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 183 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Software & Computer Services — continued | ||
Microsoft Corp. | 39,899 | 12,259,367 |
NCR Corp. * | 25,593 | 570,468 |
Oracle Corp. | 54,704 | 5,181,563 |
PTC, Inc. * | 8,367 | 1,052,485 |
Roper Technologies, Inc. | 4,220 | 1,919,172 |
Salesforce, Inc. * | 24,932 | 4,945,761 |
Science Applications International Corp. | 12,092 | 1,233,747 |
SS&C Technologies Holdings, Inc. | 25,449 | 1,489,784 |
Teradata Corp. * | 23,946 | 926,950 |
78,295,269 | ||
Technology Hardware & Equipment — 14.0% | ||
Amphenol Corp., Class A | 22,787 | 1,719,735 |
Analog Devices, Inc. | 20,336 | 3,658,040 |
Apple, Inc. | 69,259 | 11,751,867 |
Applied Materials, Inc. | 33,204 | 3,753,048 |
Arrow Electronics, Inc. * | 10,503 | 1,201,858 |
Avnet, Inc. | 27,239 | 1,123,881 |
Broadcom, Inc. | 12,406 | 7,772,359 |
CDW Corp. | 9,422 | 1,597,877 |
Cirrus Logic, Inc. * | 10,316 | 885,010 |
Corning, Inc. | 53,727 | 1,784,811 |
Dell Technologies, Inc., Class C | 21,571 | 938,123 |
Entegris, Inc. | 13,713 | 1,027,378 |
HP, Inc. | 67,498 | 2,005,365 |
Intel Corp. | 140,849 | 4,374,770 |
IPG Photonics Corp. * | 6,721 | 772,781 |
Jabil, Inc. | 17,064 | 1,333,552 |
KLA Corp. | 6,889 | 2,662,874 |
Lam Research Corp. | 6,155 | 3,225,712 |
Marvell Technology, Inc. | 38,794 | 1,531,587 |
Microchip Technology, Inc. | 28,870 | 2,107,221 |
Micron Technology, Inc. | 50,697 | 3,262,859 |
National Instruments Corp. | 18,499 | 1,077,197 |
NetApp, Inc. | 23,546 | 1,480,808 |
ON Semiconductor Corp. * | 26,917 | 1,936,947 |
Qorvo, Inc. * | 10,370 | 954,870 |
QUALCOMM, Inc. | 40,516 | 4,732,269 |
Skyworks Solutions, Inc. | 14,511 | 1,536,715 |
TD SYNNEX Corp. | 12,661 | 1,127,335 |
Teradyne, Inc. | 14,069 | 1,285,625 |
Texas Instruments, Inc. | 31,405 | 5,250,916 |
Universal Display Corp. | 5,995 | 800,093 |
78,673,483 |
INVESTMENTS | SHARES | VALUE ($) |
Telecommunications Equipment — 1.0% | ||
Cisco Systems, Inc. | 105,207 | 4,971,031 |
Juniper Networks, Inc. | 22,724 | 685,128 |
5,656,159 | ||
Telecommunications Service Providers — 1.4% | ||
AT&T, Inc. | 218,371 | 3,858,616 |
Comcast Corp., Class A | 78,912 | 3,264,589 |
DISH Network Corp., Class A * | 42,080 | 316,021 |
Lumen Technologies, Inc. | 126,992 | 300,971 |
Verizon Communications, Inc. | 10,084 | 391,562 |
8,131,759 | ||
Tobacco — 1.1% | ||
Altria Group, Inc. | 61,908 | 2,941,249 |
Philip Morris International, Inc. | 31,536 | 3,152,654 |
6,093,903 | ||
Travel & Leisure — 1.9% | ||
Boyd Gaming Corp. | 19,639 | 1,362,947 |
Copa Holdings SA, Class A (Panama) | 12,921 | 1,167,025 |
Darden Restaurants, Inc. | 11,242 | 1,707,997 |
Marriott Vacations Worldwide Corp. | 8,661 | 1,165,424 |
MGM Resorts International | 33,869 | 1,521,396 |
Penn Entertainment, Inc. * | 31,565 | 940,321 |
Travel + Leisure Co. | 29,211 | 1,117,905 |
Wendy's Co. (The) | 55,552 | 1,227,699 |
Wyndham Hotels & Resorts, Inc. * | 10,483 | 715,150 |
10,925,864 | ||
Total Common Stocks (Cost $600,214,203) | 560,667,556 | |
Short-Term Investments — 0.6% | ||
Investment Companies — 0.2% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (b) (c)(Cost $1,149,786) | 1,149,786 | 1,149,786 |
Investment of Cash Collateral from Securities Loaned — 0.4% | ||
JPMorgan Securities Lending Money Market Fund Class Agency SL Shares, 5.01% (b) (c) | 290,676 | 290,705 |
184 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Short-Term Investments — continued | ||
Investment of Cash Collateral from Securities Loaned — continued | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (b) (c) | 2,296,004 | 2,296,004 |
Total Investment of Cash Collateral from Securities Loaned (Cost $2,586,738) | 2,586,709 | |
Total Short-Term Investments (Cost $3,736,524) | 3,736,495 | |
Total Investments — 100.5% (Cost $603,950,727) | 564,404,051 | |
Liabilities in Excess of Other Assets — (0.5)% | (3,041,851 ) | |
NET ASSETS — 100.0% | 561,362,200 |
Percentages indicated are based on net assets. |
* | Non-income producing security. |
(a) | The security or a portion of this security is on loan at April 30, 2023. The total value of securities on loan at April 30, 2023 is $2,557,017. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of April 30, 2023. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 1 | 06/16/2023 | USD | 209,450 | 15,410 |
Abbreviations | |
USD | United States Dollar |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 185 |
AS OF April 30, 2023 (Unaudited)
JPMorgan BetaBuilders Canada ETF | JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF | JPMorgan BetaBuilders Europe ETF | JPMorgan BetaBuilders International Equity ETF | |
ASSETS: | ||||
Investments in non-affiliates, at value | $6,148,680,321 | $4,406,707,918 | $9,550,897,610 | $3,498,233,152 |
Investments in affiliates, at value | — | — | — | 18,160,002 |
Investments of cash collateral received from securities loaned, at value (See Note 2.C.) | 445,225,287 | 69,050 | 341,197,693 | 76,629,847 |
Cash | 222,418 | 35,859 | 1,051,819 | 1,036,847 |
Foreign currency, at value | 13,149,748 | 27,735,197 | 38,117,623 | 826,915 |
Deposits at broker for futures contracts | 1,714,194 | 2,261,295 | 6,692,652 | 1,516,000 |
Segregated cash balance with Authorized Participant for deposit securities | 219,660 | — | — | 46,463,802 |
Receivables: | ||||
Investment securities sold | — | — | — | 43,549,918 |
Fund shares sold | — | — | — | 1,114 |
Dividends from non-affiliates | 17,747,013 | 5,672,255 | 27,373,355 | 15,032,186 |
Dividends from affiliates | — | — | — | 2,281 |
Tax reclaims | — | 299,082 | 28,870,191 | 7,119,288 |
Securities lending income (See Note 2.C.) | 221,758 | 1,828 | 379,481 | 94,498 |
Variation margin on futures contracts | 167,564 | 196,435 | 1,677,864 | — |
Total Assets | 6,627,347,963 | 4,442,978,919 | 9,996,258,288 | 3,708,665,850 |
LIABILITIES: | ||||
Payables: | ||||
Investment securities purchased | — | — | 25,186,250 | 753,060 |
Collateral received on securities loaned (See Note 2.C.) | 445,225,287 | 69,050 | 341,197,693 | 76,629,847 |
Fund shares redeemed | — | — | — | 44,251,240 |
Variation margin on futures contracts | — | — | — | 269,960 |
Collateral upon return of deposit securities | 219,659 | — | — | 46,463,802 |
Accrued liabilities: | ||||
Management fees (See Note 3.A.) | 983,940 | 714,074 | 711,196 | 201,813 |
Total Liabilities | 446,428,886 | 783,124 | 367,095,139 | 168,569,722 |
Net Assets | $6,180,919,077 | $4,442,195,795 | $9,629,163,149 | $3,540,096,128 |
NET ASSETS: | ||||
Paid-in-Capital | $5,360,813,400 | $4,796,669,707 | $9,631,478,079 | $3,257,011,876 |
Total distributable earnings (loss) | 820,105,677 | (354,473,912 ) | (2,314,930 ) | 283,084,252 |
Total Net Assets | $6,180,919,077 | $4,442,195,795 | $9,629,163,149 | $3,540,096,128 |
Outstanding number of shares (unlimited number of shares authorized - par value $0.0001) | 100,798,911 | 89,498,641 | 172,999,596 | 64,000,000 |
Net asset value, per share | $61.32 | $49.63 | $55.66 | $55.31 |
Cost of investments in non-affiliates | $5,256,236,889 | $4,492,483,279 | $9,449,758,046 | $3,211,937,245 |
Cost of investments in affiliates | — | — | — | 18,160,002 |
Cost of foreign currency | 13,250,965 | 28,080,868 | 37,336,253 | 820,959 |
Investment securities on loan, at value (See Note 2.C.) | 426,409,614 | 66,231 | 322,961,901 | 72,676,586 |
Cost of investment of cash collateral (See Note 2.C.) | 445,246,044 | 69,050 | 341,234,279 | 76,636,647 |
186 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
JPMorgan BetaBuilders Japan ETF | JPMorgan BetaBuilders U.S. Equity ETF | JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | JPMorgan BetaBuilders U.S. Small Cap Equity ETF | |
ASSETS: | ||||
Investments in non-affiliates, at value | $7,351,563,502 | $1,502,734,737 | $1,571,965,056 | $686,512,787 |
Investments in affiliates, at value | — | 23,786,984 | 14,096,298 | 8,341,702 |
Investments of cash collateral received from securities loaned, at value (See Note 2.C.) | 40,487,617 | 1,224,256 | 146,431,677 | 69,112,501 |
Cash | 88,826 | 151,184 | 49,274 | 233,328 |
Foreign currency, at value | 18,367,046 | — | — | — |
Deposits at broker for futures contracts | 3,743,183 | 469,000 | 874,000 | 605,000 |
Receivables: | ||||
Dividends from non-affiliates | 74,848,833 | 1,049,761 | 523,784 | 198,093 |
Dividends from affiliates | — | 892 | 1,846 | 1,092 |
Securities lending income (See Note 2.C.) | 25,566 | 3,613 | 284,861 | 77,879 |
Variation margin on futures contracts | 2,331,370 | 66,951 | 139,210 | 69,519 |
Total Assets | 7,491,455,943 | 1,529,487,378 | 1,734,366,006 | 765,151,901 |
LIABILITIES: | ||||
Payables: | ||||
Collateral received on securities loaned (See Note 2.C.) | 40,487,617 | 1,224,256 | 146,431,677 | 69,112,501 |
Accrued liabilities: | ||||
Management fees (See Note 3.A.) | 1,175,013 | 23,892 | 89,721 | 50,431 |
Total Liabilities | 41,662,630 | 1,248,148 | 146,521,398 | 69,162,932 |
Net Assets | $7,449,793,313 | $1,528,239,230 | $1,587,844,608 | $695,988,969 |
NET ASSETS: | ||||
Paid-in-Capital | $8,270,347,808 | $1,511,743,249 | $1,833,077,231 | $825,725,953 |
Total distributable earnings (loss) | (820,554,495 ) | 16,495,981 | (245,232,623 ) | (129,736,984 ) |
Total Net Assets | $7,449,793,313 | $1,528,239,230 | $1,587,844,608 | $695,988,969 |
Outstanding number of shares (unlimited number of shares authorized - par value $0.0001) | 154,097,548 | 20,500,000 | 21,275,000 | 13,125,000 |
Net asset value, per share | $48.34 | $74.55 | $74.63 | $53.03 |
Cost of investments in non-affiliates | $7,967,112,205 | $1,498,227,788 | $1,642,708,518 | $756,300,377 |
Cost of investments in affiliates | — | 23,461,351 | 14,096,298 | 8,341,702 |
Cost of foreign currency | 18,476,564 | — | — | — |
Investment securities on loan, at value (See Note 2.C.) | 38,169,726 | 1,144,759 | 143,449,282 | 66,919,624 |
Cost of investment of cash collateral (See Note 2.C.) | 40,494,214 | 1,224,256 | 146,466,813 | 69,125,995 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 187 |
AS OF April 30, 2023 (Unaudited) (continued)
JPMorgan Carbon Transition U.S. Equity ETF | JPMorgan Diversified Return Emerging Markets Equity ETF | JPMorgan Diversified Return International Equity ETF | JPMorgan Diversified Return U.S. Equity ETF | |
ASSETS: | ||||
Investments in non-affiliates, at value | $22,407,786 | $280,740,933 | $807,673,422 | $498,985,951 |
Investments in affiliates, at value | 22,283 | — | 569,151 | 360,914 |
Investments of cash collateral received from securities loaned, at value (See Note 2.C.) | — | 102,725 | 13,885,756 | 12,137,913 |
Cash | 489 | 429,367 | 485,296 | 17,470 |
Foreign currency, at value | — | 184,043 | 62,820 | — |
Deposits at broker for futures contracts | 13,000 | 14,046 | 173,291 | 27,400 |
Receivables: | ||||
Dividends from non-affiliates | 17,428 | 716,059 | 5,305,677 | 563,006 |
Dividends from affiliates | 3 | — | 17 | 47 |
Tax reclaims | — | 6,547 | 934,291 | — |
Securities lending income (See Note 2.C.) | — | 6 | 18,548 | 615 |
Variation margin on futures contracts | 309 | 1,530 | — | 4,219 |
Total Assets | 22,461,298 | 282,195,256 | 829,108,269 | 512,097,535 |
LIABILITIES: | ||||
Payables: | ||||
Investment securities purchased | — | — | 630 | — |
Collateral received on securities loaned (See Note 2.C.) | — | 102,725 | 13,885,756 | 12,137,913 |
Variation margin on futures contracts | — | — | 3,750 | — |
Accrued liabilities: | ||||
Management fees (See Note 3.A.) | 2,740 | 101,191 | 246,140 | 74,194 |
Deferred foreign capital gains tax | — | 292,587 | — | — |
Total Liabilities | 2,740 | 496,503 | 14,136,276 | 12,212,107 |
Net Assets | $22,458,558 | $281,698,753 | $814,971,993 | $499,885,428 |
NET ASSETS: | ||||
Paid-in-Capital | $22,479,247 | $306,167,249 | $953,535,440 | $487,705,361 |
Total distributable earnings (loss) | (20,689 ) | (24,468,496 ) | (138,563,447 ) | 12,180,067 |
Total Net Assets | $22,458,558 | $281,698,753 | $814,971,993 | $499,885,428 |
Outstanding number of shares (unlimited number of shares authorized - par value $0.0001) | 400,000 | 5,500,000 | 15,200,000 | 5,200,000 |
Net asset value, per share | $56.15 | $51.22 | $53.62 | $96.13 |
Cost of investments in non-affiliates | $20,944,126 | $268,636,369 | $797,656,875 | $457,100,047 |
Cost of investments in affiliates | 22,283 | — | 569,151 | 360,914 |
Cost of foreign currency | — | 185,399 | 62,822 | — |
Investment securities on loan, at value (See Note 2.C.) | — | 84,919 | 13,213,390 | 11,942,167 |
Cost of investment of cash collateral (See Note 2.C.) | — | 102,725 | 13,887,359 | 12,138,793 |
188 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
JPMorgan Diversified Return U.S. Mid Cap Equity ETF | JPMorgan Diversified Return U.S. Small Cap Equity ETF | JPMorgan U.S. Momentum Factor ETF | JPMorgan U.S. Quality Factor ETF | |
ASSETS: | ||||
Investments in non-affiliates, at value | $342,736,925 | $379,124,648 | $238,515,459 | $1,199,480,991 |
Investments in affiliates, at value | 659,852 | 685,213 | 430,636 | 807,992 |
Investments of cash collateral received from securities loaned, at value (See Note 2.C.) | 1,355,792 | 22,947,295 | 509,082 | 38,165,790 |
Cash | 5,223 | 76,850 | 1,386 | 8,020 |
Deposits at broker for futures contracts | 48,200 | 36,000 | 30,760 | 49,800 |
Receivables: | ||||
Due from custodian | — | 2,110 | — | — |
Dividends from non-affiliates | 267,165 | 210,926 | 156,124 | 810,187 |
Dividends from affiliates | 86 | 90 | 56 | 106 |
Securities lending income (See Note 2.C.) | 266 | 11,584 | 2,730 | 11,502 |
Variation margin on futures contracts | 16,998 | 3,612 | 4,205 | 7,100 |
Total Assets | 345,090,507 | 403,098,328 | 239,650,438 | 1,239,341,488 |
LIABILITIES: | ||||
Payables: | ||||
Investment securities purchased | — | 194,550 | — | — |
Collateral received on securities loaned (See Note 2.C.) | 1,355,792 | 22,947,295 | 509,082 | 38,165,790 |
Accrued liabilities: | ||||
Management fees (See Note 3.A.) | 64,435 | 85,747 | 24,010 | 109,662 |
Total Liabilities | 1,420,227 | 23,227,592 | 533,092 | 38,275,452 |
Net Assets | $343,670,280 | $379,870,736 | $239,117,346 | $1,201,066,036 |
NET ASSETS: | ||||
Paid-in-Capital | $340,513,352 | $414,840,687 | $268,767,008 | $1,179,307,479 |
Total distributable earnings (loss) | 3,156,928 | (34,969,951 ) | (29,649,662 ) | 21,758,557 |
Total Net Assets | $343,670,280 | $379,870,736 | $239,117,346 | $1,201,066,036 |
Outstanding number of shares (unlimited number of shares authorized - par value $0.0001) | 4,000,000 | 9,750,000 | 6,050,000 | 28,750,000 |
Net asset value, per share | $85.92 | $38.96 | $39.52 | $41.78 |
Cost of investments in non-affiliates | $333,769,852 | $390,189,700 | $229,768,423 | $1,141,379,066 |
Cost of investments in affiliates | 659,852 | 685,213 | 430,636 | 807,992 |
Investment securities on loan, at value (See Note 2.C.) | 1,323,835 | 22,458,095 | 494,406 | 37,814,933 |
Cost of investment of cash collateral (See Note 2.C.) | 1,355,792 | 22,951,188 | 509,082 | 38,169,895 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 189 |
AS OF April 30, 2023 (Unaudited) (continued)
JPMorgan U.S. Value Factor ETF | |
ASSETS: | |
Investments in non-affiliates, at value | $560,667,556 |
Investments in affiliates, at value | 1,149,786 |
Investments of cash collateral received from securities loaned, at value (See Note 2.C.) | 2,586,709 |
Cash | 14,753 |
Deposits at broker for futures contracts | 16,200 |
Receivables: | |
Investment securities sold | 18,688,355 |
Dividends from non-affiliates | 631,045 |
Dividends from affiliates | 151 |
Securities lending income (See Note 2.C.) | 7,427 |
Variation margin on futures contracts | 1,399 |
Total Assets | 583,763,381 |
LIABILITIES: | |
Payables: | |
Investment securities purchased | 1,029,755 |
Collateral received on securities loaned (See Note 2.C.) | 2,586,709 |
Fund shares redeemed | 18,712,188 |
Accrued liabilities: | |
Management fees (See Note 3.A.) | 72,529 |
Total Liabilities | 22,401,181 |
Net Assets | $561,362,200 |
NET ASSETS: | |
Paid-in-Capital | $651,372,039 |
Total distributable earnings (loss) | (90,009,839 ) |
Total Net Assets | $561,362,200 |
Outstanding number of shares (unlimited number of shares authorized - par value $0.0001) | 16,500,000 |
Net asset value, per share | $34.02 |
Cost of investments in non-affiliates | $600,214,203 |
Cost of investments in affiliates | 1,149,786 |
Investment securities on loan, at value (See Note 2.C.) | 2,557,017 |
Cost of investment of cash collateral (See Note 2.C.) | 2,586,738 |
190 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
FOR THE SIX MONTHS ENDED April 30, 2023 (Unaudited)
JPMorgan BetaBuilders Canada ETF | JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF | JPMorgan BetaBuilders Europe ETF | JPMorgan BetaBuilders International Equity ETF | |
INVESTMENT INCOME: | ||||
Interest income from non-affiliates | $54,822 | $27,691 | $89,387 | $2,440 |
Interest income from affiliates | 2,020 | 36,971 | 19,923 | 24,145 |
Dividend income from non-affiliates | 99,296,800 | 80,608,493 | 138,923,264 | 54,952,876 |
Dividend income from affiliates | — | — | — | 311,994 |
Income from securities lending (net) (See Note 2.C.) | 1,427,740 | 26,148 | 726,540 | 226,548 |
Foreign taxes withheld (net) | (13,746,712 ) | (615,771 ) | (15,677,257 ) | (5,466,333 ) |
Total investment income | 87,034,670 | 80,083,532 | 124,081,857 | 50,051,670 |
EXPENSES: | ||||
Management fees (See Note 3.A.) | 5,532,870 | 3,988,114 | 2,753,840 | 1,074,678 |
Interest expense to non-affiliates | — | 1,057 | 2,870 | — |
Interest expense to affiliates | 13,614 | 247 | 1,003 | 4,707 |
Total expenses | 5,546,484 | 3,989,418 | 2,757,713 | 1,079,385 |
Net investment income (loss) | 81,488,186 | 76,094,114 | 121,324,144 | 48,972,285 |
REALIZED/UNREALIZED GAINS (LOSSES): | ||||
Net realized gain (loss) on transactions from: | ||||
Investments in non-affiliates | (11,072,437 ) | (25,426,755 ) | (35,520,446 ) | (14,923,128 ) |
In-kind redemptions of investments in non-affiliates (See Note 4) | 89,312,448 | 4,831,037 | 79,653,586 | 45,065,867 |
Futures contracts | (1,817,694 ) | 861,333 | 5,974,593 | 2,447,734 |
Foreign currency transactions | (964,314 ) | 389,529 | 2,773,697 | 560,680 |
Net realized gain (loss) | 75,458,003 | (19,344,856 ) | 52,881,430 | 33,151,153 |
Change in net unrealized appreciation/depreciation on: | ||||
Investments in non-affiliates | 323,976,191 | 517,838,610 | 995,376,141 | 570,091,609 |
Investments in affiliates | (20,757 ) | (33 ) | (44,914 ) | (6,702 ) |
Futures contracts | 725,689 | 453,948 | 1,873,398 | 2,589,797 |
Foreign currency translations | (210,888 ) | (588,698 ) | 3,070,884 | 589,558 |
Change in net unrealized appreciation/depreciation | 324,470,235 | 517,703,827 | 1,000,275,509 | 573,264,262 |
Net realized/unrealized gains (losses) | 399,928,238 | 498,358,971 | 1,053,156,939 | 606,415,415 |
Change in net assets resulting from operations | $481,416,424 | $574,453,085 | $1,174,481,083 | $655,387,700 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 191 |
FOR THE SIX MONTHS ENDED April 30, 2023 (Unaudited) (continued)
JPMorgan BetaBuilders Japan ETF | JPMorgan BetaBuilders U.S. Equity ETF | JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | JPMorgan BetaBuilders U.S. Small Cap Equity ETF | |
INVESTMENT INCOME: | ||||
Interest income from non-affiliates | $107 | $1 | $71 | $1 |
Interest income from affiliates | 521 | 11,528 | 14,064 | 9,658 |
Dividend income from non-affiliates | 98,835,393 | 10,940,440 | 10,036,364 | 4,228,024 |
Dividend income from affiliates | — | 410,364 | 264,493 | 141,445 |
Income from securities lending (net) (See Note 2.C.) | 174,970 | 22,203 | 1,178,555 | 411,937 |
Foreign taxes withheld (net) | (9,904,933 ) | — | — | — |
Total investment income | 89,106,058 | 11,384,536 | 11,493,547 | 4,791,065 |
EXPENSES: | ||||
Management fees (See Note 3.A.) | 6,621,750 | 126,916 | 495,354 | 258,313 |
Interest expense to non-affiliates | 4,999 | — | — | — |
Interest expense to affiliates | 31,207 | 955 | 1,770 | 836 |
Total expenses | 6,657,956 | 127,871 | 497,124 | 259,149 |
Net investment income (loss) | 82,448,102 | 11,256,665 | 10,996,423 | 4,531,916 |
REALIZED/UNREALIZED GAINS (LOSSES): | ||||
Net realized gain (loss) on transactions from: | ||||
Investments in non-affiliates | (29,910,983 ) | (18,537,933 ) | (63,046,374 ) | (32,905,289 ) |
In-kind redemptions of investments in non-affiliates (See Note 4) | 13,214,929 | 47,019,162 | 48,531,860 | 16,577,751 |
In-kind redemptions of investments in affiliates (See Note 4) | — | 562,810 | — | — |
Futures contracts | 796,086 | (270,449 ) | (1,801,705 ) | (961,332 ) |
Foreign currency transactions | 7,942,589 | — | — | — |
Net realized gain (loss) | (7,957,379 ) | 28,773,590 | (16,316,219 ) | (17,288,870 ) |
Change in net unrealized appreciation/depreciation on: | ||||
Investments in non-affiliates | 1,020,883,151 | 69,716,528 | 11,179,001 | (11,817,225 ) |
Investments in affiliates | (6,597 ) | 927,687 | (37,583 ) | (17,696 ) |
Futures contracts | 1,826,724 | 475,844 | (353,635 ) | (338,701 ) |
Foreign currency translations | (114,762 ) | — | — | — |
Change in net unrealized appreciation/depreciation | 1,022,588,516 | 71,120,059 | 10,787,783 | (12,173,622 ) |
Net realized/unrealized gains (losses) | 1,014,631,137 | 99,893,649 | (5,528,436 ) | (29,462,492 ) |
Change in net assets resulting from operations | $1,097,079,239 | $111,150,314 | $5,467,987 | $(24,930,576 ) |
192 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
JPMorgan Carbon Transition U.S. Equity ETF | JPMorgan Diversified Return Emerging Markets Equity ETF | JPMorgan Diversified Return International Equity ETF | JPMorgan Diversified Return U.S. Equity ETF | |
INVESTMENT INCOME: | ||||
Interest income from non-affiliates | $— | $1,254 | $1,280 | $2 |
Interest income from affiliates | 257 | 6,068 | 4,376 | 1,848 |
Dividend income from non-affiliates | 171,660 | 4,343,432 | 15,056,390 | 6,356,969 |
Dividend income from affiliates | 821 | — | 26,141 | 22,474 |
Income from securities lending (net) (See Note 2.C.) | — | 347 | 60,827 | 3,075 |
Foreign taxes withheld (net) | — | (391,970 ) | (1,169,490 ) | — |
Total investment income | 172,738 | 3,959,131 | 13,979,524 | 6,384,368 |
EXPENSES: | ||||
Management fees (See Note 3.A.) | 16,046 | 519,169 | 1,408,420 | 452,419 |
Interest expense to affiliates | — | — | 18 | — |
Total expenses | 16,046 | 519,169 | 1,408,438 | 452,419 |
Net investment income (loss) | 156,692 | 3,439,962 | 12,571,086 | 5,931,949 |
REALIZED/UNREALIZED GAINS (LOSSES): | ||||
Net realized gain (loss) on transactions from: | ||||
Investments in non-affiliates | (517,301 ) | (3,163,979 )(a) | (21,318,387 ) | (12,955,001 ) |
Investments in affiliates | — | — | 1,167 | — |
In-kind redemptions of investments in non-affiliates (See Note 4) | 414,072 | 603,532 | 2,273,691 | 18,319,940 |
Futures contracts | 2,098 | 16,647 | 810,859 | (35,890 ) |
Foreign currency transactions | — | (24,900 ) | 219,904 | — |
Net realized gain (loss) | (101,131 ) | (2,568,700 ) | (18,012,766 ) | 5,329,049 |
Change in net unrealized appreciation/depreciation on: | ||||
Investments in non-affiliates | 1,511,545 | 24,120,619 (b) | 149,588,281 | 6,233,561 |
Investments in affiliates | — | — | (2,726 ) | (980 ) |
Futures contracts | (392 ) | 12,574 | 136,642 | (15,610 ) |
Foreign currency translations | — | 29,621 | 96,964 | — |
Change in net unrealized appreciation/depreciation | 1,511,153 | 24,162,814 | 149,819,161 | 6,216,971 |
Net realized/unrealized gains (losses) | 1,410,022 | 21,594,114 | 131,806,395 | 11,546,020 |
Change in net assets resulting from operations | $1,566,714 | $25,034,076 | $144,377,481 | $17,477,969 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 193 |
FOR THE SIX MONTHS ENDED April 30, 2023 (Unaudited) (continued)
JPMorgan Diversified Return U.S. Mid Cap Equity ETF | JPMorgan Diversified Return U.S. Small Cap Equity ETF | JPMorgan U.S. Momentum Factor ETF | JPMorgan U.S. Quality Factor ETF | |
INVESTMENT INCOME: | ||||
Interest income from non-affiliates | $1 | $13 | $8 | $10 |
Interest income from affiliates | 1,481 | 1,274 | 800 | 1,716 |
Dividend income from non-affiliates | 3,105,239 | 3,669,278 | 1,839,021 | 6,822,934 |
Dividend income from affiliates | 13,325 | 20,755 | 10,538 | 32,556 |
Income from securities lending (net) (See Note 2.C.) | 751 | 118,464 | 19,693 | 97,105 |
Total investment income | 3,120,797 | 3,809,784 | 1,870,060 | 6,954,321 |
EXPENSES: | ||||
Management fees (See Note 3.A.) | 363,167 | 470,329 | 139,928 | 478,820 |
Total expenses | 363,167 | 470,329 | 139,928 | 478,820 |
Net investment income (loss) | 2,757,630 | 3,339,455 | 1,730,132 | 6,475,501 |
REALIZED/UNREALIZED GAINS (LOSSES): | ||||
Net realized gain (loss) on transactions from: | ||||
Investments in non-affiliates | (6,521,029 ) | (15,616,238 ) | (14,450,002 ) | (16,901,252 ) |
In-kind redemptions of investments in non-affiliates (See Note 4) | 14,058,241 | 12,098,978 | 1,012,704 | 15,672,965 |
Futures contracts | (86,774 ) | (142,757 ) | (15,062 ) | (10,543 ) |
Net realized gain (loss) | 7,450,438 | (3,660,017 ) | (13,452,360 ) | (1,238,830 ) |
Change in net unrealized appreciation/depreciation on: | ||||
Investments in non-affiliates | (464,260 ) | (7,214,613 ) | 21,293,174 | 74,624,202 |
Investments in affiliates | — | (6,532 ) | — | (4,305 ) |
Futures contracts | (18,610 ) | (11,195 ) | (9,620 ) | (6,635 ) |
Change in net unrealized appreciation/depreciation | (482,870 ) | (7,232,340 ) | 21,283,554 | 74,613,262 |
Net realized/unrealized gains (losses) | 6,967,568 | (10,892,357 ) | 7,831,194 | 73,374,432 |
Change in net assets resulting from operations | $9,725,198 | $(7,552,902 ) | $9,561,326 | $79,849,933 |
194 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
JPMorgan U.S. Value Factor ETF | |
INVESTMENT INCOME: | |
Interest income from non-affiliates | $7 |
Interest income from affiliates | 1,690 |
Dividend income from non-affiliates | 8,432,374 |
Dividend income from affiliates | 24,333 |
Income from securities lending (net) (See Note 2.C.) | 14,113 |
Total investment income | 8,472,517 |
EXPENSES: | |
Management fees (See Note 3.A.) | 371,466 |
Interest expense to affiliates | 711 |
Total expenses | 372,177 |
Net investment income (loss) | 8,100,340 |
REALIZED/UNREALIZED GAINS (LOSSES): | |
Net realized gain (loss) on transactions from: | |
Investments in non-affiliates | (25,042,526 ) |
In-kind redemptions of investments in non-affiliates (See Note 4) | 28,404,113 |
Futures contracts | 5,759 |
Net realized gain (loss) | 3,367,346 |
Change in net unrealized appreciation/depreciation on: | |
Investments in non-affiliates | 7,283,657 |
Investments in affiliates | (237 ) |
Futures contracts | (12,821 ) |
Change in net unrealized appreciation/depreciation | 7,270,599 |
Net realized/unrealized gains (losses) | 10,637,945 |
Change in net assets resulting from operations | $18,738,285 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 195 |
FOR THE PERIODS INDICATED
JPMorgan BetaBuilders Canada ETF | JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF | |||
Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, 2022 | Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, 2022 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $81,488,186 | $155,905,858 | $76,094,114 | $168,498,778 |
Net realized gain (loss) | 75,458,003 | 16,551,404 | (19,344,856 ) | (101,978,748 ) |
Change in net unrealized appreciation/depreciation | 324,470,235 | (1,077,868,825 ) | 517,703,827 | (907,509,929 ) |
Change in net assets resulting from operations | 481,416,424 | (905,411,563 ) | 574,453,085 | (840,989,899 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Total distributions to shareholders | (71,070,150 ) | (152,620,697 ) | (55,720,981 ) | (267,459,428 ) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 126,299,508 | 631,036,936 | 511,452,787 | 407,341,684 |
NET ASSETS: | ||||
Change in net assets | 536,645,782 | (426,995,324 ) | 1,030,184,891 | (701,107,643 ) |
Beginning of period | 5,644,273,295 | 6,071,268,619 | 3,412,010,904 | 4,113,118,547 |
End of period | $6,180,919,077 | $5,644,273,295 | $4,442,195,795 | $3,412,010,904 |
CAPITAL TRANSACTIONS: | ||||
Proceeds from shares issued | $407,117,289 | $890,586,159 | $531,115,558 | $581,070,458 |
Cost of shares redeemed | (280,817,781 ) | (259,549,223 ) | (19,662,771 ) | (173,728,774 ) |
Total change in net assets resulting from capital transactions | $126,299,508 | $631,036,936 | $511,452,787 | $407,341,684 |
SHARE TRANSACTIONS: | ||||
Issued | 6,900,000 | 13,350,000 | 10,100,000 | 11,000,000 |
Redeemed | (4,600,000 ) | (4,400,000 ) | (400,000 ) | (3,500,000 ) |
Net increase (decrease) in shares from share transactions | 2,300,000 | 8,950,000 | 9,700,000 | 7,500,000 |
196 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
JPMorgan BetaBuilders Europe ETF | JPMorgan BetaBuilders International Equity ETF | |||
Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, 2022 | Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, 2022 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $121,324,144 | $248,401,924 | $48,972,285 | $88,153,100 |
Net realized gain (loss) | 52,881,430 | (276,059,377 ) | 33,151,153 | 13,170,405 |
Change in net unrealized appreciation/depreciation | 1,000,275,509 | (1,626,158,808 ) | 573,264,262 | (892,730,954 ) |
Change in net assets resulting from operations | 1,174,481,083 | (1,653,816,261 ) | 655,387,700 | (791,407,449 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Total distributions to shareholders | (31,746,063 ) | (309,349,480 ) | (17,909,105 ) | (124,967,513 ) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 4,958,740,370 | (3,936,599,878 ) | 192,520,015 | (53,668,198 ) |
NET ASSETS: | ||||
Change in net assets | 6,101,475,390 | (5,899,765,619 ) | 829,998,610 | (970,043,160 ) |
Beginning of period | 3,527,687,759 | 9,427,453,378 | 2,710,097,518 | 3,680,140,678 |
End of period | $9,629,163,149 | $3,527,687,759 | $3,540,096,128 | $2,710,097,518 |
CAPITAL TRANSACTIONS: | ||||
Proceeds from shares issued | $5,707,604,285 | $3,919,047,179 | $428,337,151 | $275,139,027 |
Cost of shares redeemed | (748,863,915 ) | (7,855,647,057 ) | (235,817,136 ) | (328,807,225 ) |
Total change in net assets resulting from capital transactions | $4,958,740,370 | $(3,936,599,878 ) | $192,520,015 | $(53,668,198 ) |
SHARE TRANSACTIONS: | ||||
Issued | 108,100,000 | 78,900,000 | 8,000,000 | 5,800,000 |
Redeemed | (16,000,000 ) | (155,800,000 ) | (4,600,000 ) | (6,000,000 ) |
Net increase (decrease) in shares from share transactions | 92,100,000 | (76,900,000 ) | 3,400,000 | (200,000 ) |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 197 |
FOR THE PERIODS INDICATED (continued)
JPMorgan BetaBuilders Japan ETF | JPMorgan BetaBuilders U.S. Equity ETF | |||
Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, 2022 | Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, 2022 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $82,448,102 | $149,079,840 | $11,256,665 | $15,423,970 |
Net realized gain (loss) | (7,957,379 ) | (80,090,887 ) | 28,773,590 | 4,487,198 |
Change in net unrealized appreciation/depreciation | 1,022,588,516 | (2,108,806,716 ) | 71,120,059 | (204,422,658 ) |
Change in net assets resulting from operations | 1,097,079,239 | (2,039,817,763 ) | 111,150,314 | (184,511,490 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Total distributions to shareholders | (102,173,384 ) | (220,078,396 ) | (10,793,362 ) | (14,262,272 ) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 243,649,895 | 606,595,869 | 151,358,670 | 692,691,398 |
NET ASSETS: | ||||
Change in net assets | 1,238,555,750 | (1,653,300,290 ) | 251,715,622 | 493,917,636 |
Beginning of period | 6,211,237,563 | 7,864,537,853 | 1,276,523,608 | 782,605,972 |
End of period | $7,449,793,313 | $6,211,237,563 | $1,528,239,230 | $1,276,523,608 |
CAPITAL TRANSACTIONS: | ||||
Proceeds from shares issued | $334,666,778 | $1,208,227,460 | $335,651,885 | $768,415,533 |
Cost of shares redeemed | (91,016,883 ) | (601,631,591 ) | (184,293,215 ) | (75,724,135 ) |
Total change in net assets resulting from capital transactions | $243,649,895 | $606,595,869 | $151,358,670 | $692,691,398 |
SHARE TRANSACTIONS: | ||||
Issued | 7,100,000 | 23,400,000 | 4,650,000 | 10,150,000 |
Redeemed | (2,000,000 ) | (12,000,000 ) | (2,550,000 ) | (1,050,000 ) |
Net increase (decrease) in shares from share transactions | 5,100,000 | 11,400,000 | 2,100,000 | 9,100,000 |
198 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | JPMorgan BetaBuilders U.S. Small Cap Equity ETF | |||
Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, 2022 | Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, 2022 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $10,996,423 | $19,122,942 | $4,531,916 | $6,140,418 |
Net realized gain (loss) | (16,316,219 ) | 346,144 | (17,288,870 ) | (14,173,562 ) |
Distributions of capital gains received from investment company affiliates | — | 604 | — | — |
Change in net unrealized appreciation/depreciation | 10,787,783 | (350,680,418 ) | (12,173,622 ) | (78,757,441 ) |
Change in net assets resulting from operations | 5,467,987 | (331,210,728 ) | (24,930,576 ) | (86,790,585 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Total distributions to shareholders | (11,192,825 ) | (18,142,752 ) | (3,975,853 ) | (6,135,146 ) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 203,005,100 | 41,293,712 | 230,133,138 | 145,626,501 |
NET ASSETS: | ||||
Change in net assets | 197,280,262 | (308,059,768 ) | 201,226,709 | 52,700,770 |
Beginning of period | 1,390,564,346 | 1,698,624,114 | 494,762,260 | 442,061,490 |
End of period | $1,587,844,608 | $1,390,564,346 | $695,988,969 | $494,762,260 |
CAPITAL TRANSACTIONS: | ||||
Proceeds from shares issued | $395,670,355 | $585,288,055 | $328,790,359 | $286,035,202 |
Cost of shares redeemed | (192,665,255 ) | (543,994,343 ) | (98,657,221 ) | (140,408,701 ) |
Total change in net assets resulting from capital transactions | $203,005,100 | $41,293,712 | $230,133,138 | $145,626,501 |
SHARE TRANSACTIONS: | ||||
Issued | 5,100,000 | 7,100,000 | 5,925,000 | 4,900,000 |
Redeemed | (2,600,000 ) | (6,475,000 ) | (1,850,000 ) | (2,400,000 ) |
Net increase (decrease) in shares from share transactions | 2,500,000 | 625,000 | 4,075,000 | 2,500,000 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 199 |
FOR THE PERIODS INDICATED (continued)
JPMorgan Carbon Transition U.S. Equity ETF | JPMorgan Diversified Return Emerging Markets Equity ETF | |||
Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, 2022 | Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, 2022 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $156,692 | $310,617 | $3,439,962 | $6,881,979 |
Net realized gain (loss) | (101,131 ) | 585,627 | (2,568,700 ) | (2,496,820 ) |
Change in net unrealized appreciation/depreciation | 1,511,153 | (4,501,537 ) | 24,162,814 | (31,063,579 ) |
Change in net assets resulting from operations | 1,566,714 | (3,605,293 ) | 25,034,076 | (26,678,420 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Total distributions to shareholders | (155,176 ) | (316,660 ) | (1,781,382 ) | (8,578,159 ) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 99,339 | (63,760 ) | 94,519,833 | 45,300,057 |
NET ASSETS: | ||||
Change in net assets | 1,510,877 | (3,985,713 ) | 117,772,527 | 10,043,478 |
Beginning of period | 20,947,681 | 24,933,394 | 163,926,226 | 153,882,748 |
End of period | $22,458,558 | $20,947,681 | $281,698,753 | $163,926,226 |
CAPITAL TRANSACTIONS: | ||||
Proceeds from shares issued | $2,702,370 | $11,343,556 | $99,656,093 | $59,899,317 |
Cost of shares redeemed | (2,603,031 ) | (11,407,316 ) | (5,136,260 ) | (14,599,260 ) |
Total change in net assets resulting from capital transactions | $99,339 | $(63,760 ) | $94,519,833 | $45,300,057 |
SHARE TRANSACTIONS: | ||||
Issued | 50,000 | 200,000 | 2,000,000 | 1,200,000 |
Redeemed | (50,000 ) | (200,000 ) | (100,000 ) | (300,000 ) |
Net increase (decrease) in shares from share transactions | — | — | 1,900,000 | 900,000 |
200 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
JPMorgan Diversified Return International Equity ETF | JPMorgan Diversified Return U.S. Equity ETF | |||
Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, 2022 | Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, 2022 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $12,571,086 | $27,582,338 | $5,931,949 | $12,658,003 |
Net realized gain (loss) | (18,012,766 ) | (28,259,394 ) | 5,329,049 | 90,675,199 |
Distributions of capital gains received from investment company affiliates | — | 42 | — | — |
Change in net unrealized appreciation/depreciation | 149,819,161 | (198,906,255 ) | 6,216,971 | (128,753,788 ) |
Change in net assets resulting from operations | 144,377,481 | (199,583,269 ) | 17,477,969 | (25,420,586 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Total distributions to shareholders | (6,041,444 ) | (41,010,274 ) | (6,256,031 ) | (12,386,546 ) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 5,573,816 | 69,639,461 | (18,618,963 ) | (164,922,989 ) |
NET ASSETS: | ||||
Change in net assets | 143,909,853 | (170,954,082 ) | (7,397,025 ) | (202,730,121 ) |
Beginning of period | 671,062,140 | 842,016,222 | 507,282,453 | 710,012,574 |
End of period | $814,971,993 | $671,062,140 | $499,885,428 | $507,282,453 |
CAPITAL TRANSACTIONS: | ||||
Proceeds from shares issued | $25,207,777 | $80,575,234 | $49,774,562 | $116,289,482 |
Cost of shares redeemed | (19,633,961 ) | (10,935,773 ) | (68,393,525 ) | (281,212,471 ) |
Total change in net assets resulting from capital transactions | $5,573,816 | $69,639,461 | $(18,618,963 ) | $(164,922,989 ) |
SHARE TRANSACTIONS: | ||||
Issued | 500,000 | 1,500,000 | 525,000 | 1,200,000 |
Redeemed | (400,000 ) | (200,000 ) | (725,000 ) | (2,800,000 ) |
Net increase (decrease) in shares from share transactions | 100,000 | 1,300,000 | (200,000 ) | (1,600,000 ) |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 201 |
FOR THE PERIODS INDICATED (continued)
JPMorgan Diversified Return U.S. Mid Cap Equity ETF | JPMorgan Diversified Return U.S. Small Cap Equity ETF | |||
Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, 2022 | Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, 2022 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $2,757,630 | $4,478,181 | $3,339,455 | $3,252,211 |
Net realized gain (loss) | 7,450,438 | 20,573,310 | (3,660,017 ) | 4,960,838 |
Change in net unrealized appreciation/depreciation | (482,870 ) | (45,467,566 ) | (7,232,340 ) | (31,220,087 ) |
Change in net assets resulting from operations | 9,725,198 | (20,416,075 ) | (7,552,902 ) | (23,007,038 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Total distributions to shareholders | (2,869,160 ) | (4,185,258 ) | (2,906,204 ) | (2,874,215 ) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 69,293,712 | 52,313,151 | 103,396,845 | 136,552,064 |
NET ASSETS: | ||||
Change in net assets | 76,149,750 | 27,711,818 | 92,937,739 | 110,670,811 |
Beginning of period | 267,520,530 | 239,808,712 | 286,932,997 | 176,262,186 |
End of period | $343,670,280 | $267,520,530 | $379,870,736 | $286,932,997 |
CAPITAL TRANSACTIONS: | ||||
Proceeds from shares issued | $121,333,343 | $119,917,257 | $147,872,166 | $185,306,143 |
Cost of shares redeemed | (52,039,631 ) | (67,604,106 ) | (44,475,321 ) | (48,754,079 ) |
Total change in net assets resulting from capital transactions | $69,293,712 | $52,313,151 | $103,396,845 | $136,552,064 |
SHARE TRANSACTIONS: | ||||
Issued | 1,425,000 | 1,400,000 | 3,700,000 | 4,550,000 |
Redeemed | (625,000 ) | (800,000 ) | (1,150,000 ) | (1,250,000 ) |
Net increase (decrease) in shares from share transactions | 800,000 | 600,000 | 2,550,000 | 3,300,000 |
202 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
JPMorgan U.S. Momentum Factor ETF | JPMorgan U.S. Quality Factor ETF | |||
Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, 2022 | Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, 2022 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $1,730,132 | $2,851,758 | $6,475,501 | $7,450,673 |
Net realized gain (loss) | (13,452,360 ) | 6,217,441 | (1,238,830 ) | 21,659,872 |
Change in net unrealized appreciation/depreciation | 21,283,554 | (61,390,929 ) | 74,613,262 | (80,812,994 ) |
Change in net assets resulting from operations | 9,561,326 | (52,321,730 ) | 79,849,933 | (51,702,449 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Total distributions to shareholders | (1,783,316 ) | (2,634,717 ) | (5,686,503 ) | (6,843,698 ) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 2,016,218 | 62,421,394 | 547,174,499 | 245,070,163 |
NET ASSETS: | ||||
Change in net assets | 9,794,228 | 7,464,947 | 621,337,929 | 186,524,016 |
Beginning of period | 229,323,118 | 221,858,171 | 579,728,107 | 393,204,091 |
End of period | $239,117,346 | $229,323,118 | $1,201,066,036 | $579,728,107 |
CAPITAL TRANSACTIONS: | ||||
Proceeds from shares issued | $7,901,305 | $162,800,375 | $654,672,373 | $519,385,603 |
Cost of shares redeemed | (5,885,087 ) | (100,378,981 ) | (107,497,874 ) | (274,315,440 ) |
Total change in net assets resulting from capital transactions | $2,016,218 | $62,421,394 | $547,174,499 | $245,070,163 |
SHARE TRANSACTIONS: | ||||
Issued | 200,000 | 3,750,000 | 16,300,000 | 13,150,000 |
Redeemed | (150,000 ) | (2,400,000 ) | (2,750,000 ) | (7,000,000 ) |
Net increase (decrease) in shares from share transactions | 50,000 | 1,350,000 | 13,550,000 | 6,150,000 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 203 |
FOR THE PERIODS INDICATED (continued)
JPMorgan U.S. Value Factor ETF | ||
Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, 2022 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||
Net investment income (loss) | $8,100,340 | $11,669,653 |
Net realized gain (loss) | 3,367,346 | (12,318,328 ) |
Distributions of capital gains received from investment company affiliates | — | 74 |
Change in net unrealized appreciation/depreciation | 7,270,599 | (55,817,799 ) |
Change in net assets resulting from operations | 18,738,285 | (56,466,400 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | ||
Total distributions to shareholders | (7,108,442 ) | (11,652,973 ) |
CAPITAL TRANSACTIONS: | ||
Change in net assets resulting from capital transactions | 105,648,637 | 111,623,606 |
NET ASSETS: | ||
Change in net assets | 117,278,480 | 43,504,233 |
Beginning of period | 444,083,720 | 400,579,487 |
End of period | $561,362,200 | $444,083,720 |
CAPITAL TRANSACTIONS: | ||
Proceeds from shares issued | $441,105,804 | $372,923,059 |
Cost of shares redeemed | (335,457,167 ) | (261,299,453 ) |
Total change in net assets resulting from capital transactions | $105,648,637 | $111,623,606 |
SHARE TRANSACTIONS: | ||
Issued | 12,900,000 | 10,450,000 |
Redeemed | (9,900,000 ) | (7,750,000 ) |
Net increase (decrease) in shares from share transactions | 3,000,000 | 2,700,000 |
204 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||
Investment operations | Distributions | ||||
Net asset value, beginning of period | Net investment income (loss) (b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | |
JPMorgan BetaBuilders Canada ETF | |||||
Six Months Ended April 30, 2023 (Unaudited) | $57.30 | $0.83 | $3.92 | $4.75 | $(0.73 ) |
Year Ended October 31, 2022 | 67.80 | 1.59 | (10.53 ) | (8.94 ) | (1.56 ) |
Year Ended October 31, 2021 (f) | 45.99 | 1.38 | 21.78 | 23.16 | (1.35 ) |
Year Ended October 31, 2020 (f) | 49.78 | 1.29 | (3.82 ) | (2.53 ) | (1.26 ) |
Year Ended October 31, 2019 (f) | 45.19 | 1.31 | 4.47 | 5.78 | (1.19 ) |
August 7, 2018 (h) through October 31, 2018 (f) | 49.31 | 0.29 | (4.31 ) | (4.02 ) | (0.10 ) |
JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF | |||||
Six Months Ended April 30, 2023 (Unaudited) | 42.76 | 0.89 | 6.63 | 7.52 | (0.65 ) |
Year Ended October 31, 2022 | 56.89 | 2.12 | (12.86 ) | (10.74 ) | (3.39 ) |
Year Ended October 31, 2021 (f) | 44.97 | 2.44 | 11.48 | 13.92 | (2.00 ) |
Year Ended October 31, 2020 (f) | 50.63 | 1.58 | (5.65 ) | (4.07 ) | (1.59 ) |
Year Ended October 31, 2019 (f) | 45.36 | 2.10 | 5.17 | 7.27 | (2.00 ) |
August 7, 2018 (h) through October 31, 2018 (f) | 50.73 | 0.44 | (5.48 ) | (5.04 ) | (0.33 ) |
JPMorgan BetaBuilders Europe ETF | |||||
Six Months Ended April 30, 2023 (Unaudited) | 43.61 | 1.02 | 11.36 | 12.38 | (0.33 ) |
Year Ended October 31, 2022 | 59.74 | 1.78 | (15.31 ) | (13.53 ) | (2.60 ) |
Year Ended October 31, 2021 (f) | 43.29 | 1.67 | 16.19 | 17.86 | (1.41 ) |
Year Ended October 31, 2020 (f) | 48.71 | 1.08 | (5.43 ) | (4.35 ) | (1.07 ) |
Year Ended October 31, 2019 (f) | 45.19 | 1.79 | 3.28 | 5.07 | (1.55 ) |
June 15, 2018 (h) through October 31, 2018 (f) | 49.58 | 0.26 | (4.58 ) | (4.32 ) | (0.07 ) |
(a) | Annualized for periods less than one year, unless otherwise noted. |
(b) | Calculated based upon average shares outstanding. |
(c) | Not annualized for periods less than one year. |
(d) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(e) | Prior to December 9, 2019, market price return was calculated assuming an initial investment made at the market price at the beginning of the reporting period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. The price used to calculate the market price return was the midpoint of the bid/ask spread at the close of business on the listing exchange of the Fund. Effective December 9, 2019, the closing price was used to calculate the market price return; however, any prices used in the calculation for market price return prior to December 9, 2019, would have used the midpoint of the bid/ask spread at the close of business on the exchange. |
(f) | Per share amounts reflects a 1:2 reverse stock split that occurred on April 12, 2021. See Note 1. |
(g) | Prior to November 1, 2019, the Fund may have waived fees if expenses exceeded the expense cap. On November 1, 2019, the Fund adopted a unitary fee structure where a management fee is accrued by the Fund based on prior day net assets and other expenses are paid by the Advisor. |
(h) | Commencement of operations. |
(i) | Since the Shares of the Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of secondary market trading, the net asset value is used as a proxy for the secondary market trading price to calculate the market returns. |
(j) | Certain non-recurring expenses incurred by the Fund were not annualized for the period indicated. |
206 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
Ratios/Supplemental data | ||||||||
Ratios to average net assets (a) | ||||||||
Net asset value, end of period | Market price, end of period | Total return (c)(d) | Market price total return (c)(e) | Net assets, end of period | Net expenses | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate (c) |
$61.32 | $61.38 | 8.39 % | 8.40 % | $6,180,919,077 | 0.19 % | 2.80 % | 0.19 % | 2 % |
57.30 | 57.35 | (13.34 ) | (13.49 ) | 5,644,273,295 | 0.19 | 2.51 | 0.19 | 5 |
67.80 | 67.98 | 50.77 | 50.84 | 6,071,268,619 | 0.19 | 2.28 | 0.19 | 2 |
45.99 | 46.10 | (4.98 ) | (4.81 ) | 3,640,211,260 | 0.19 | 2.74 | 0.19 | 4 |
49.78 | 49.80 | 13.08 | 12.97 | 3,800,754,020 | 0.19 | 2.73 | 0.34 (g) | 7 |
45.19 | 45.24 | (8.18 ) | (8.05 )(i) | 2,044,698,826 | 0.19 (j) | 2.55 | 0.37 (g)(j) | 1 |
49.63 | 49.75 | 17.63 | 17.84 | 4,442,195,795 | 0.19 | 3.62 | 0.19 | 2 |
42.76 | 42.79 | (19.60 ) | (19.87 ) | 3,412,010,904 | 0.20 | 4.17 | 0.20 | 14 |
56.89 | 57.12 | 31.14 | 31.26 | 4,113,118,547 | 0.19 | 4.26 | 0.19 | 6 |
44.97 | 45.10 | (7.87 ) | (7.45 ) | 1,465,970,894 | 0.19 | 3.40 | 0.19 | 6 |
50.63 | 50.54 | 16.18 | 15.94 | 1,442,853,830 | 0.19 | 4.22 | 0.39 (g) | 7 |
45.36 | 45.38 | (9.97 ) | (9.93 )(i) | 603,313,934 | 0.19 (j) | 3.94 | 0.45 (g)(j) | 2 |
55.66 | 55.67 | 28.48 | 28.47 | 9,629,163,149 | 0.09 | 3.94 | 0.09 | 1 |
43.61 | 43.62 | (23.01 ) | (23.22 ) | 3,527,687,759 | 0.10 | 3.36 | 0.10 | 7 |
59.74 | 59.92 | 41.54 | 41.77 | 9,427,453,378 | 0.09 | 2.92 | 0.09 | 6 |
43.29 | 43.34 | (8.92 ) | (8.90 ) | 3,701,005,509 | 0.09 | 2.33 | 0.09 | 5 |
48.71 | 48.78 | 11.43 | 11.32 | 3,853,145,624 | 0.09 | 3.83 | 0.25 (g) | 7 |
45.19 | 45.28 | (8.75 ) | (8.55 )(i) | 1,314,930,292 | 0.09 (j) | 1.45 | 0.34 (g)(j) | 2 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 207 |
FOR THE PERIODS INDICATED (continued)
Per share operating performance | |||||
Investment operations | Distributions | ||||
Net asset value, beginning of period | Net investment income (loss) (b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | |
JPMorgan BetaBuilders International Equity ETF | |||||
Six Months Ended April 30, 2023 (Unaudited) | $44.72 | $0.81 | $10.09 | $10.90 | $(0.31 ) |
Year Ended October 31, 2022 | 60.53 | 1.51 | (15.16 ) | (13.65 ) | (2.16 ) |
Year Ended October 31, 2021 | 46.20 | 1.67 | 14.10 | 15.77 | (1.44 ) |
December 3, 2019 (f) through October 31, 2020 | 49.79 | 1.05 | (4.26 )(g) | (3.21 ) | (0.38 ) |
JPMorgan BetaBuilders Japan ETF | |||||
Six Months Ended April 30, 2023 (Unaudited) | 41.69 | 0.55 | 6.78 | 7.33 | (0.68 ) |
Year Ended October 31, 2022 | 57.16 | 1.03 | (14.91 ) | (13.88 ) | (1.59 ) |
Year Ended October 31, 2021 (i) | 48.39 | 1.04 | 8.36 | 9.40 | (0.63 ) |
Year Ended October 31, 2020 (i) | 49.07 | 0.84 | (0.39 ) | 0.45 | (1.13 ) |
Year Ended October 31, 2019 (i) | 45.45 | 0.97 | 2.93 | 3.90 | (0.28 ) |
June 15, 2018 (f) through October 31, 2018 (i) | 49.58 | 0.48 | (4.61 ) | (4.13 ) | — |
JPMorgan BetaBuilders U.S. Equity ETF | |||||
Six Months Ended April 30, 2023 (Unaudited) | 69.38 | 0.60 | 5.15 | 5.75 | (0.58 ) |
Year Ended October 31, 2022 | 84.15 | 1.11 | (14.86 ) | (13.75 ) | (1.02 ) |
Year Ended October 31, 2021 | 59.59 | 1.02 | 24.48 | 25.50 | (0.94 ) |
Year Ended October 31, 2020 | 54.60 | 1.14 | 4.83 | 5.97 | (0.98 ) |
March 12, 2019 (f) through October 31, 2019 | 50.14 | 0.68 | 4.29 | 4.97 | (0.51 ) |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | |||||
Six Months Ended April 30, 2023 (Unaudited) | 74.06 | 0.57 | 0.60 | 1.17 | (0.60 ) |
Year Ended October 31, 2022 | 93.59 | 1.03 | (19.57 ) | (18.54 ) | (0.99 ) |
Year Ended October 31, 2021 | 64.16 | 0.90 | 29.27 | 30.17 | (0.74 ) |
April 14, 2020 (f) through October 31, 2020 | 50.78 | 0.33 | 13.32 (g) | 13.65 | (0.27 ) |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF | |||||
Six Months Ended April 30, 2023 (Unaudited) | 54.67 | 0.42 | (1.68 ) | (1.26 ) | (0.38 ) |
Year Ended October 31, 2022 | 67.49 | 0.77 | (12.79 ) | (12.02 ) | (0.80 ) |
November 16, 2020 (f) through October 31, 2021 | 51.27 | 0.62 | 16.04 | 16.66 | (0.44 ) |
(a) | Annualized for periods less than one year, unless otherwise noted. |
(b) | Calculated based upon average shares outstanding. |
(c) | Not annualized for periods less than one year. |
(d) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(e) | Prior to December 9, 2019, market price return was calculated assuming an initial investment made at the market price at the beginning of the reporting period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. The price used to calculate the market price return was the midpoint of the bid/ask spread at the close of business on the listing exchange of the Fund. Effective December 9, 2019, the closing price was used to calculate the market price return; however, any prices used in the calculation for market price return prior to December 9, 2019, would have used the midpoint of the bid/ask spread at the close of business on the exchange. |
(f) | Commencement of operations. |
(g) | Calculation of the net realized and unrealized gains (losses) per share do not correlate with the Fund’s net realized and unrealized gains (losses) presented in the Statement of Operations due to the timing of capital transactions in relation to the fluctuating market values of the Fund’s investments. |
(h) | Since the Shares of the Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of secondary market trading, the net asset value is used as a proxy for the secondary market trading price to calculate the market returns. |
(i) | Per share amounts reflects a 1:2 reverse stock split that occurred on April 12, 2021. See Note 1. |
(j) | Prior to November 1, 2019, the Fund may have waived fees if expenses exceeded the expense cap. On November 1, 2019, the Fund adopted a unitary fee structure where a management fee is accrued by the Fund based on prior day net assets and other expenses are paid by the Advisor. |
(k) | Certain non-recurring expenses incurred by the Fund were not annualized for the period indicated. |
208 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
Ratios/Supplemental data | ||||||||
Ratios to average net assets (a) | ||||||||
Net asset value, end of period | Market price, end of period | Total return (c)(d) | Market price total return (c)(e) | Net assets, end of period | Net expenses | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate (c) |
$55.31 | $55.36 | 24.43 % | 24.46 % | $3,540,096,128 | 0.07 % | 3.16 % | 0.07 % | 2 % |
44.72 | 44.75 | (23.02 ) | (23.11 ) | 2,710,097,518 | 0.07 | 2.88 | 0.07 | 6 |
60.53 | 60.64 | 34.26 | 34.24 | 3,680,140,678 | 0.07 | 2.85 | 0.07 | 5 |
46.20 | 46.29 | (6.45 ) | (6.27 )(h) | 1,866,670,302 | 0.07 | 2.40 | 0.07 | 8 |
48.34 | 48.60 | 17.68 | 18.21 | 7,449,793,313 | 0.19 | 2.36 | 0.19 | 1 |
41.69 | 41.73 | (24.96 ) | (24.95 ) | 6,211,237,563 | 0.19 | 2.10 | 0.19 | 4 |
57.16 | 57.21 | 19.47 | 18.98 | 7,864,537,853 | 0.19 | 1.83 | 0.19 | 3 |
48.39 | 48.64 | 0.87 | 1.24 | 5,323,035,447 | 0.19 | 1.77 | 0.19 | 5 |
49.07 | 49.14 | 8.74 | 9.07 | 4,318,521,919 | 0.19 | 2.14 | 0.33 (j) | 4 |
45.45 | 45.36 | (8.35 ) | (8.51 )(h) | 2,336,087,667 | 0.19 (k) | 2.63 | 0.37 (j)(k) | 5 |
74.55 | 74.50 | 8.36 | 8.22 | 1,528,239,230 | 0.02 | 1.70 | 0.02 | 1 |
69.38 | 69.42 | (16.42 ) | (16.33 ) | 1,276,523,608 | 0.02 | 1.47 | 0.02 | 4 |
84.15 | 84.11 | 43.02 | 42.97 | 782,605,972 | 0.02 | 1.34 | 0.02 | 4 |
59.59 | 59.58 | 11.09 | 11.05 | 238,372,575 | 0.02 | 1.99 | 0.02 | 4 |
54.60 | 54.61 | 9.95 | 9.97 (h) | 46,409,125 | 0.02 | 2.01 | 0.02 | 3 |
74.63 | 74.62 | 1.61 | 1.78 | 1,587,844,608 | 0.07 | 1.53 | 0.07 | 7 |
74.06 | 73.92 | (19.87 ) | (20.10 ) | 1,390,564,346 | 0.07 | 1.29 | 0.07 | 30 |
93.59 | 93.68 | 47.15 | 47.52 | 1,698,624,114 | 0.07 | 1.05 | 0.07 | 27 |
64.16 | 64.06 | 26.91 | 26.71 (h) | 988,131,953 | 0.07 | 0.91 | 0.07 | 7 |
53.03 | 52.99 | (2.29 ) | (1.84 ) | 695,988,969 | 0.09 | 1.55 | 0.09 | 10 |
54.67 | 54.38 | (17.87 ) | (18.39 ) | 494,762,260 | 0.09 | 1.35 | 0.09 | 30 |
67.49 | 67.56 | 32.56 | 32.70 (h) | 442,061,490 | 0.09 | 0.98 | 0.09 | 27 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 209 |
FOR THE PERIODS INDICATED (continued)
Per share operating performance | |||||
Investment operations | Distributions | ||||
Net asset value, beginning of period | Net investment income (loss) (b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | |
JPMorgan Carbon Transition U.S. Equity ETF | |||||
Six Months Ended April 30, 2023 (Unaudited) | $52.37 | $0.39 | $3.78 | $4.17 | $(0.39 ) |
Year Ended October 31, 2022 | 62.33 | 0.77 | (9.94 ) | (9.17 ) | (0.79 ) |
December 9, 2020 (f) through October 31, 2021 | 49.29 | 0.63 | 12.95 | 13.58 | (0.54 ) |
JPMorgan Diversified Return Emerging Markets Equity ETF | |||||
Six Months Ended April 30, 2023 (Unaudited) | 45.54 | 0.72 | 5.34 | 6.06 | (0.38 ) |
Year Ended October 31, 2022 | 56.99 | 2.21 | (10.86 ) | (8.65 ) | (2.80 ) |
Year Ended October 31, 2021 | 46.47 | 1.81 | 10.70 | 12.51 | (1.99 ) |
Year Ended October 31, 2020 | 54.43 | 1.46 | (7.48 ) | (6.02 ) | (1.94 ) |
Year Ended October 31, 2019 | 50.91 | 2.07 | 2.97 | 5.04 | (1.52 ) |
Year Ended October 31, 2018 | 57.15 | 1.59 | (5.37 ) | (3.78 ) | (2.46 ) |
JPMorgan Diversified Return International Equity ETF | |||||
Six Months Ended April 30, 2023 (Unaudited) | 44.44 | 0.83 | 8.76 | 9.59 | (0.41 ) |
Year Ended October 31, 2022 | 61.02 | 1.91 | (15.62 ) | (13.71 ) | (2.87 ) |
Year Ended October 31, 2021 | 49.84 | 1.91 | 11.03 | 12.94 | (1.76 ) |
Year Ended October 31, 2020 | 55.06 | 1.35 | (5.01 ) | (3.66 ) | (1.56 ) |
Year Ended October 31, 2019 | 53.10 | 1.77 | 1.90 | 3.67 | (1.71 ) |
Year Ended October 31, 2018 | 59.18 | 1.51 | (5.29 ) | (3.78 ) | (2.30 ) |
JPMorgan Diversified Return U.S. Equity ETF | |||||
Six Months Ended April 30, 2023 (Unaudited) | 93.94 | 1.13 | 2.25 | 3.38 | (1.19 ) |
Year Ended October 31, 2022 | 101.43 | 2.16 | (7.56 ) | (5.40 ) | (2.09 ) |
Year Ended October 31, 2021 | 73.52 | 1.71 | 27.76 | 29.47 | (1.56 ) |
Year Ended October 31, 2020 | 76.44 | 1.65 | (2.82 ) | (1.17 ) | (1.75 ) |
Year Ended October 31, 2019 | 69.92 | 1.66 | 6.34 | 8.00 | (1.48 ) |
Year Ended October 31, 2018 | 68.52 | 1.39 | 1.88 | 3.27 | (1.87 ) |
(a) | Annualized for periods less than one year, unless otherwise noted. |
(b) | Calculated based upon average shares outstanding. |
(c) | Not annualized for periods less than one year. |
(d) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(e) | Prior to December 9, 2019, market price return was calculated assuming an initial investment made at the market price at the beginning of the reporting period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. The price used to calculate the market price return was the midpoint of the bid/ask spread at the close of business on the listing exchange of the Fund. Effective December 9, 2019, the closing price was used to calculate the market price return; however, any prices used in the calculation for market price return prior to December 9, 2019, would have used the midpoint of the bid/ask spread at the close of business on the exchange. |
(f) | Commencement of operations. |
(g) | Since the Shares of the Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of secondary market trading, the net asset value is used as a proxy for the secondary market trading price to calculate the market returns. |
(h) | Prior to November 1, 2019, the Fund may have waived fees if expenses exceeded the expense cap. On November 1, 2019, the Fund adopted a unitary fee structure where a management fee is accrued by the Fund based on prior day net assets and other expenses are paid by the Advisor. |
210 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
Ratios/Supplemental data | ||||||||
Ratios to average net assets (a) | ||||||||
Net asset value, end of period | Market price, end of period | Total return (c)(d) | Market price total return (c)(e) | Net assets, end of period | Net expenses | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate (c) |
$56.15 | $56.12 | 8.01 % | 7.94 % | $22,458,558 | 0.15 % | 1.46 % | 0.15 % | 10 % |
52.37 | 52.38 | (14.79 ) | (14.79 ) | 20,947,681 | 0.15 | 1.35 | 0.15 | 16 |
62.33 | 62.34 | 27.68 | 27.70 (g) | 24,933,394 | 0.15 | 1.26 | 0.15 | 27 |
51.22 | 51.52 | 13.36 | 13.35 | 281,698,753 | 0.44 | 2.92 | 0.44 | 13 |
45.54 | 45.81 | (15.61 ) | (15.20 ) | 163,926,226 | 0.44 | 4.19 | 0.44 | 33 |
56.99 | 57.05 | 26.93 | 27.80 | 153,882,748 | 0.44 | 3.18 | 0.44 | 29 |
46.47 | 46.21 | (11.20 ) | (11.80 ) | 213,760,142 | 0.44 | 2.97 | 0.44 | 26 |
54.43 | 54.50 | 10.00 | 10.31 | 353,795,416 | 0.45 | 3.87 | 0.87 (h) | 51 |
50.91 | 50.83 | (6.93 ) | (7.43 ) | 213,804,252 | 0.45 | 2.80 | 0.96 (h) | 53 |
53.62 | 53.73 | 21.64 | 21.62 | 814,971,993 | 0.37 | 3.30 | 0.37 | 12 |
44.44 | 44.54 | (23.25 ) | (23.15 ) | 671,062,140 | 0.37 | 3.59 | 0.37 | 28 |
61.02 | 61.08 | 26.00 | 26.08 | 842,016,222 | 0.37 | 3.14 | 0.37 | 35 |
49.84 | 49.86 | (6.72 ) | (6.62 ) | 867,200,124 | 0.37 | 2.61 | 0.37 | 23 |
55.06 | 55.02 | 7.05 | 7.23 | 1,282,867,303 | 0.38 | 3.27 | 0.41 (h) | 25 |
53.10 | 52.98 | (6.72 ) | (7.22 ) | 1,444,332,261 | 0.40 | 2.57 | 0.44 (h) | 28 |
96.13 | 96.09 | 3.63 | 3.47 | 499,885,428 | 0.18 | 2.36 | 0.18 | 15 |
93.94 | 94.05 | (5.36 ) | (5.28 ) | 507,282,453 | 0.18 | 2.18 | 0.18 | 22 |
101.43 | 101.46 | 40.36 | 40.44 | 710,012,574 | 0.18 | 1.86 | 0.18 | 33 |
73.52 | 73.50 | (1.40 ) | (1.44 ) | 536,709,641 | 0.18 | 2.26 | 0.18 | 21 |
76.44 | 76.45 | 11.65 | 11.65 | 802,625,997 | 0.19 | 2.27 | 0.37 (h) | 24 |
69.92 | 69.93 | 4.74 | 4.70 | 559,362,329 | 0.19 | 1.95 | 0.41 (h) | 32 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 211 |
FOR THE PERIODS INDICATED (continued)
Per share operating performance | |||||
Investment operations | Distributions | ||||
Net asset value, beginning of period | Net investment income (loss) (b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | |
JPMorgan Diversified Return U.S. Mid Cap Equity ETF | |||||
Six Months Ended April 30, 2023 (Unaudited) | $83.60 | $0.78 | $2.39 | $3.17 | $(0.85 ) |
Year Ended October 31, 2022 | 92.23 | 1.60 | (8.73 ) | (7.13 ) | (1.50 ) |
Year Ended October 31, 2021 | 64.77 | 1.30 | 27.36 | 28.66 | (1.20 ) |
Year Ended October 31, 2020 | 67.13 | 1.18 | (2.38 ) | (1.20 ) | (1.16 ) |
Year Ended October 31, 2019 | 62.24 | 1.18 | 4.78 | 5.96 | (1.07 ) |
Year Ended October 31, 2018 | 62.06 | 1.06 | 0.59 | 1.65 | (1.47 ) |
JPMorgan Diversified Return U.S. Small Cap Equity ETF | |||||
Six Months Ended April 30, 2023 (Unaudited) | 39.85 | 0.41 | (0.93 ) | (0.52 ) | (0.37 ) |
Year Ended October 31, 2022 | 45.20 | 0.64 | (5.41 ) | (4.77 ) | (0.58 ) |
Year Ended October 31, 2021 | 28.87 | 0.46 | 16.35 | 16.81 | (0.48 ) |
Year Ended October 31, 2020 | 30.84 | 0.44 | (2.01 ) | (1.57 ) | (0.40 ) |
Year Ended October 31, 2019 | 29.58 | 0.42 | 1.22 | 1.64 | (0.38 ) |
Year Ended October 31, 2018 | 28.95 | 0.33 | 0.73 | 1.06 | (0.43 ) |
(a) | Annualized for periods less than one year, unless otherwise noted. |
(b) | Calculated based upon average shares outstanding. |
(c) | Not annualized for periods less than one year. |
(d) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(e) | Prior to December 9, 2019, market price return was calculated assuming an initial investment made at the market price at the beginning of the reporting period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. The price used to calculate the market price return was the midpoint of the bid/ask spread at the close of business on the listing exchange of the Fund. Effective December 9, 2019, the closing price was used to calculate the market price return; however, any prices used in the calculation for market price return prior to December 9, 2019, would have used the midpoint of the bid/ask spread at the close of business on the exchange. |
(f) | Prior to November 1, 2019, the Fund may have waived fees if expenses exceeded the expense cap. On November 1, 2019, the Fund adopted a unitary fee structure where a management fee is accrued by the Fund based on prior day net assets and other expenses are paid by the Advisor. |
212 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
Ratios/Supplemental data | ||||||||
Ratios to average net assets (a) | ||||||||
Net asset value, end of period | Market price, end of period | Total return (c)(d) | Market price total return (c)(e) | Net assets, end of period | Net expenses | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate (c) |
$85.92 | $85.92 | 3.83 % | 3.89 % | $343,670,280 | 0.24 % | 1.82 % | 0.24 % | 9 % |
83.60 | 83.55 | (7.78 ) | (7.90 ) | 267,520,530 | 0.24 | 1.82 | 0.24 | 24 |
92.23 | 92.30 | 44.51 | 44.73 | 239,808,712 | 0.24 | 1.57 | 0.24 | 34 |
64.77 | 64.72 | (1.66 ) | (1.79 ) | 220,207,846 | 0.24 | 1.86 | 0.24 | 28 |
67.13 | 67.17 | 9.73 | 9.78 | 187,973,791 | 0.24 | 1.82 | 0.43 (f) | 25 |
62.24 | 62.25 | 2.59 | 2.57 | 112,028,180 | 0.24 | 1.64 | 0.50 (f) | 35 |
38.96 | 38.92 | (1.28 ) | (1.58 ) | 379,870,736 | 0.29 | 2.06 | 0.29 | 10 |
39.85 | 39.93 | (10.59 ) | (10.49 ) | 286,932,997 | 0.29 | 1.55 | 0.29 | 26 |
45.20 | 45.24 | 58.49 | 58.25 | 176,262,186 | 0.29 | 1.13 | 0.29 | 37 |
28.87 | 28.94 | (4.99 ) | (4.85 ) | 148,672,825 | 0.29 | 1.54 | 0.29 | 30 |
30.84 | 30.87 | 5.64 | 5.75 | 140,343,327 | 0.29 | 1.40 | 0.54 (f) | 43 |
29.58 | 29.58 | 3.61 | 3.43 | 96,135,254 | 0.29 | 1.08 | 0.61 (f) | 30 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 213 |
FOR THE PERIODS INDICATED (continued)
Per share operating performance | |||||
Investment operations | Distributions | ||||
Net asset value, beginning of period | Net investment income (loss) (b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | |
JPMorgan U.S. Momentum Factor ETF | |||||
Six Months Ended April 30, 2023 (Unaudited) | $38.22 | $0.29 | $1.30 | $1.59 | $(0.29 ) |
Year Ended October 31, 2022 | 47.71 | 0.50 | (9.53 ) | (9.03 ) | (0.46 ) |
Year Ended October 31, 2021 | 33.68 | 0.34 | 14.00 | 14.34 | (0.31 ) |
Year Ended October 31, 2020 | 29.04 | 0.35 | 4.63 | 4.98 | (0.34 ) |
Year Ended October 31, 2019 | 25.98 | 0.37 | 2.99 | 3.36 | (0.30 ) |
November 8, 2017 (g) through October 31, 2018 | 25.00 | 0.35 | 0.95 | 1.30 | (0.32 ) |
JPMorgan U.S. Quality Factor ETF | |||||
Six Months Ended April 30, 2023 (Unaudited) | 38.14 | 0.32 | 3.62 | 3.94 | (0.30 ) |
Year Ended October 31, 2022 | 43.45 | 0.66 | (5.34 ) | (4.68 ) | (0.63 ) |
Year Ended October 31, 2021 | 31.53 | 0.60 | 11.91 | 12.51 | (0.59 ) |
Year Ended October 31, 2020 | 29.74 | 0.56 | 1.70 | 2.26 | (0.47 ) |
Year Ended October 31, 2019 | 26.56 | 0.58 | 3.11 | 3.69 | (0.51 ) |
November 8, 2017 (g) through October 31, 2018 | 25.00 | 0.52 | 1.52 | 2.04 | (0.48 ) |
JPMorgan U.S. Value Factor ETF | |||||
Six Months Ended April 30, 2023 (Unaudited) | 32.90 | 0.44 | 1.12 | 1.56 | (0.44 ) |
Year Ended October 31, 2022 | 37.09 | 0.80 | (4.19 ) | (3.39 ) | (0.80 ) |
Year Ended October 31, 2021 | 24.99 | 0.72 | 12.03 | 12.75 | (0.65 ) |
Year Ended October 31, 2020 | 27.29 | 0.77 | (2.29 ) | (1.52 ) | (0.78 ) |
Year Ended October 31, 2019 | 25.21 | 0.75 | 1.97 | 2.72 | (0.64 ) |
November 8, 2017 (g) through October 31, 2018 | 25.00 | 0.64 | 0.16 | 0.80 | (0.59 ) |
(a) | Annualized for periods less than one year, unless otherwise noted. |
(b) | Calculated based upon average shares outstanding. |
(c) | Not annualized for periods less than one year. |
(d) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(e) | Prior to December 9, 2019, market price return was calculated assuming an initial investment made at the market price at the beginning of the reporting period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. The price used to calculate the market price return was the midpoint of the bid/ask spread at the close of business on the listing exchange of the Fund. Effective December 9, 2019, the closing price was used to calculate the market price return; however, any prices used in the calculation for market price return prior to December 9, 2019, would have used the midpoint of the bid/ask spread at the close of business on the exchange. |
(f) | Prior to November 1, 2019, the Fund may have waived fees if expenses exceeded the expense cap. On November 1, 2019, the Fund adopted a unitary fee structure where a management fee is accrued by the Fund based on prior day net assets and other expenses are paid by the Advisor. |
(g) | Commencement of operations. |
(h) | Since the Shares of the Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of secondary market trading, the net asset value is used as a proxy for the secondary market trading price to calculate the market returns. |
(i) | Certain non-recurring expenses incurred by the Fund were not annualized for the period indicated. |
214 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
Ratios/Supplemental data | ||||||||
Ratios to average net assets (a) | ||||||||
Net asset value, end of period | Market price, end of period | Total return (c)(d) | Market price total return (c)(e) | Net assets, end of period | Net expenses | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate (c) |
$39.52 | $39.49 | 4.20 % | 4.04 % | $239,117,346 | 0.12 % | 1.48 % | 0.12 % | 20 % |
38.22 | 38.25 | (18.97 ) | (18.86 ) | 229,323,118 | 0.12 | 1.20 | 0.12 | 43 |
47.71 | 47.68 | 42.72 | 42.38 | 221,858,171 | 0.12 | 0.80 | 0.12 | 44 |
33.68 | 33.74 | 17.33 | 17.50 | 134,743,086 | 0.12 | 1.11 | 0.12 | 39 |
29.04 | 29.05 | 13.06 | 13.06 | 56,620,589 | 0.12 | 1.35 | 0.55 (f) | 52 |
25.98 | 25.99 | 5.17 | 5.21 (h) | 28,575,370 | 0.12 (i) | 1.32 | 0.74 (f)(i) | 44 |
41.78 | 41.80 | 10.38 | 10.38 | 1,201,066,036 | 0.12 | 1.62 | 0.12 | 9 |
38.14 | 38.16 | (10.84 ) | (10.85 ) | 579,728,107 | 0.12 | 1.64 | 0.12 | 18 |
43.45 | 43.48 | 39.97 | 40.02 | 393,204,091 | 0.12 | 1.56 | 0.12 | 21 |
31.53 | 31.54 | 7.72 | 7.68 | 384,671,209 | 0.12 | 1.81 | 0.12 | 20 |
29.74 | 29.76 | 14.10 | 14.18 | 107,067,872 | 0.12 | 2.05 | 0.50 (f) | 21 |
26.56 | 26.56 | 8.15 | 8.15 (h) | 29,215,267 | 0.12 (i) | 2.01 | 0.74 (f)(i) | 22 |
34.02 | 34.00 | 4.78 | 4.78 | 561,362,200 | 0.12 | 2.61 | 0.12 | 14 |
32.90 | 32.88 | (9.21 ) | (9.24 ) | 444,083,720 | 0.12 | 2.28 | 0.12 | 21 |
37.09 | 37.08 | 51.38 | 51.88 | 400,579,487 | 0.12 | 2.01 | 0.12 | 34 |
24.99 | 24.90 | (5.39 ) | (5.76 ) | 62,468,155 | 0.12 | 2.99 | 0.12 | 25 |
27.29 | 27.30 | 11.01 | 11.05 | 66,849,642 | 0.12 | 2.90 | 0.52 (f) | 22 |
25.21 | 25.21 | 3.12 | 3.12 (h) | 28,986,509 | 0.12 (i) | 2.52 | 0.75 (f)(i) | 26 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 215 |
AS OF April 30, 2023 (Unaudited)
Diversification Classification | |
JPMorgan BetaBuilders Canada ETF | Diversified |
JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF | Diversified |
JPMorgan BetaBuilders Europe ETF | Diversified |
JPMorgan BetaBuilders International Equity ETF | Diversified |
JPMorgan BetaBuilders Japan ETF | Diversified |
JPMorgan BetaBuilders U.S. Equity ETF | Diversified |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | Diversified |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF | Diversified |
JPMorgan Carbon Transition U.S. Equity ETF | Diversified |
JPMorgan Diversified Return Emerging Markets Equity ETF | Diversified |
JPMorgan Diversified Return International Equity ETF | Diversified |
JPMorgan Diversified Return U.S. Equity ETF | Diversified |
JPMorgan Diversified Return U.S. Mid Cap Equity ETF | Diversified |
JPMorgan Diversified Return U.S. Small Cap Equity ETF | Diversified |
JPMorgan U.S. Momentum Factor ETF | Diversified |
JPMorgan U.S. Quality Factor ETF | Diversified |
JPMorgan U.S. Value Factor ETF | Diversified |
216 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
Listing Exchange | |
BetaBuilders Canada ETF | Cboe BZX Exchange, Inc. |
BetaBuilders Developed Asia Pacific ex-Japan ETF | Cboe BZX Exchange, Inc. |
BetaBuilders Europe ETF | Cboe BZX Exchange, Inc. |
BetaBuilders International Equity ETF | Cboe BZX Exchange, Inc. |
BetaBuilders Japan ETF | Cboe BZX Exchange, Inc. |
BetaBuilders U.S. Equity ETF | Cboe BZX Exchange, Inc. |
BetaBuilders U.S. Mid Cap Equity ETF | NYSE Arca |
BetaBuilders U.S. Small Cap Equity ETF | NYSE Arca |
Carbon Transition U.S. Equity ETF | NYSE Arca |
Emerging Markets Equity ETF | NYSE Arca |
International Equity ETF | NYSE Arca |
U.S. Equity ETF | NYSE Arca |
U.S. Mid Cap Equity ETF | NYSE Arca |
U.S. Small Cap Equity ETF | NYSE Arca |
U.S. Momentum Factor ETF | NYSE Arca |
U.S. Quality Factor ETF | NYSE Arca |
U.S. Value Factor ETF | NYSE Arca |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 217 |
AS OF April 30, 2023 (Unaudited) (continued)
BetaBuilders Canada ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $6,593,905,608 | $— | $— | $6,593,905,608 |
218 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
BetaBuilders Canada ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Appreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $1,256,334 | $— | $— | $1,256,334 |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
BetaBuilders Developed Asia Pacific ex-Japan ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | ||||
Australia | $— | $2,563,606,039 | $— | $2,563,606,039 |
China | 6,684,948 | 93,696,689 | — | 100,381,637 |
Hong Kong | — | 844,944,743 | — | 844,944,743 |
Macau | — | 55,021,487 | — | 55,021,487 |
New Zealand | — | 79,140,496 | — | 79,140,496 |
Singapore | — | 466,732,091 | — | 466,732,091 |
United Kingdom | — | 42,877,010 | — | 42,877,010 |
United States | — | 254,004,415 | — | 254,004,415 |
Total Common Stocks | 6,684,948 | 4,400,022,970 | — | 4,406,707,918 |
Short-Term Investments | ||||
Investment of Cash Collateral from Securities Loaned | 69,050 | — | — | 69,050 |
Total Investments in Securities | $6,753,998 | $4,400,022,970 | $— | $4,406,776,968 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts | $895,656 | $— | $— | $895,656 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts | (78,604 ) | — | — | (78,604 ) |
Total Net Appreciation/ Depreciation in Other Financial Instruments | $817,052 | $— | $— | $817,052 |
BetaBuilders Europe ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | ||||
Australia | $— | $152,390,557 | $— | $152,390,557 |
Austria | 976,047 | 42,656,100 | — | 43,632,147 |
Belgium | — | 142,774,247 | — | 142,774,247 |
Brazil | — | 5,901,359 | — | 5,901,359 |
Chile | — | 5,705,104 | — | 5,705,104 |
China | — | 78,182,932 | — | 78,182,932 |
Denmark | — | 433,152,139 | — | 433,152,139 |
Finland | 612,571 | 178,103,235 | — | 178,715,806 |
France | — | 1,501,858,837 | — | 1,501,858,837 |
Germany | — | 1,159,712,026 | — | 1,159,712,026 |
Hong Kong | — | 37,815,925 | — | 37,815,925 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 219 |
AS OF April 30, 2023 (Unaudited) (continued)
BetaBuilders Europe ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Ireland | $— | $65,280,056 | $— | $65,280,056 |
Italy | — | 332,555,028 | — | 332,555,028 |
Jordan | — | 3,697,825 | — | 3,697,825 |
Luxembourg | — | 22,680,170 | — | 22,680,170 |
Mexico | — | 1,482,029 | — | 1,482,029 |
Netherlands | 4,777,057 | 729,111,418 | — | 733,888,475 |
Norway | — | 100,761,317 | — | 100,761,317 |
Poland | — | 38,877,279 | — | 38,877,279 |
Portugal | — | 25,759,041 | — | 25,759,041 |
Russia | — | — | 23,346 | 23,346 |
Singapore | — | 25,230,478 | — | 25,230,478 |
South Africa | — | 37,050,908 | — | 37,050,908 |
South Korea | — | 6,934,280 | — | 6,934,280 |
Spain | — | 368,172,325 | — | 368,172,325 |
Sweden | 464,558 | 483,267,414 | — | 483,731,972 |
Switzerland | 22,846,204 | 834,886,992 | — | 857,733,196 |
United Arab Emirates | — | — | — | — |
United Kingdom | 11,656,176 | 1,722,441,119 | — | 1,734,097,295 |
United States | — | 973,101,511 | — | 973,101,511 |
Total Common Stocks | 41,332,613 | 9,509,541,651 | 23,346 | 9,550,897,610 |
Short-Term Investments | ||||
Investment of Cash Collateral from Securities Loaned | 341,197,693 | — | — | 341,197,693 |
Total Investments in Securities | $382,530,306 | $9,509,541,651 | $23,346 | $9,892,095,303 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts | $2,956,928 | $— | $— | $2,956,928 |
BetaBuilders International Equity ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | ||||
Australia | $— | $267,107,857 | $— | $267,107,857 |
Austria | 230,143 | 10,194,032 | — | 10,424,175 |
Belgium | — | 34,179,705 | — | 34,179,705 |
Brazil | — | 1,413,356 | — | 1,413,356 |
Chile | — | 1,361,910 | — | 1,361,910 |
China | 598,789 | 27,152,689 | — | 27,751,478 |
Denmark | — | 103,737,445 | — | 103,737,445 |
Finland | 144,676 | 42,639,596 | — | 42,784,272 |
France | — | 359,657,813 | — | 359,657,813 |
Germany | — | 277,731,034 | — | 277,731,034 |
Hong Kong | — | 85,109,185 | — | 85,109,185 |
Ireland | — | 15,634,633 | — | 15,634,633 |
Israel | — | 15,190,014 | — | 15,190,014 |
Italy | — | 79,597,407 | — | 79,597,407 |
Japan | — | 799,573,815 | — | 799,573,815 |
220 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
BetaBuilders International Equity ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Jordan | $— | $882,773 | $— | $882,773 |
Luxembourg | — | 5,431,920 | — | 5,431,920 |
Macau | — | 4,961,273 | — | 4,961,273 |
Mexico | — | 354,951 | — | 354,951 |
Netherlands | 1,521,735 | 174,247,801 | — | 175,769,536 |
New Zealand | — | 7,110,023 | — | 7,110,023 |
Norway | — | 24,105,874 | — | 24,105,874 |
Poland | — | 9,293,634 | — | 9,293,634 |
Portugal | — | 6,164,723 | — | 6,164,723 |
Russia | — | — | 4,961 | 4,961 |
Singapore | — | 48,037,167 | — | 48,037,167 |
South Africa | — | 8,873,806 | — | 8,873,806 |
South Korea | — | 1,655,207 | — | 1,655,207 |
Spain | — | 88,156,760 | — | 88,156,760 |
Sweden | 109,105 | 115,663,980 | — | 115,773,085 |
Switzerland | 5,469,842 | 199,944,869 | — | 205,414,711 |
United Arab Emirates | — | — | — | — |
United Kingdom | 2,791,744 | 416,284,381 | — | 419,076,125 |
United States | — | 255,912,524 | — | 255,912,524 |
Total Common Stocks | 10,866,034 | 3,487,362,157 | 4,961 | 3,498,233,152 |
Short-Term Investments | ||||
Investment Companies | 18,160,002 | — | — | 18,160,002 |
Investment of Cash Collateral from Securities Loaned | 76,629,847 | — | — | 76,629,847 |
Total Short-Term Investments | 94,789,849 | — | — | 94,789,849 |
Total Investments in Securities | $105,655,883 | $3,487,362,157 | $4,961 | $3,593,023,001 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts | $2,027,686 | $— | $— | $2,027,686 |
BetaBuilders Japan ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | $— | $7,351,563,502 | $— | $7,351,563,502 |
Short-Term Investments | ||||
Investment of Cash Collateral from Securities Loaned | 40,487,617 | — | — | 40,487,617 |
Total Investments in Securities | $40,487,617 | $7,351,563,502 | $— | $7,392,051,119 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts | $3,879,530 | $— | $— | $3,879,530 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 221 |
AS OF April 30, 2023 (Unaudited) (continued)
BetaBuilders U.S. Equity ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | $1,519,705,942 | $— | $— | $1,519,705,942 |
Rights | — | — | 1,764 | 1,764 |
Short-Term Investments | ||||
Investment Companies | 6,814,015 | — | — | 6,814,015 |
Investment of Cash Collateral from Securities Loaned | 1,224,256 | — | — | 1,224,256 |
Total Short-Term Investments | 8,038,271 | — | — | 8,038,271 |
Total Investments in Securities | $1,527,744,213 | $— | $1,764 | $1,527,745,977 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts | $413,742 | $— | $— | $413,742 |
BetaBuilders U.S. Mid Cap Equity ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $1,732,493,031 | $— | $— | $1,732,493,031 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $146,307 | $— | $— | $146,307 |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
BetaBuilders U.S. Small Cap Equity ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $763,966,990 | $— | $— | $763,966,990 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $(45,284 ) | $— | $— | $(45,284 ) |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
Carbon Transition U.S. Equity ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $22,430,069 | $— | $— | $22,430,069 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $1,452 | $— | $— | $1,452 |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
222 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
Emerging Markets Equity ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | ||||
Brazil | $25,010,020 | $— | $— | $25,010,020 |
Chile | 3,847,881 | — | — | 3,847,881 |
China | 1,210,254 | 70,309,242 | — | 71,519,496 |
Colombia | 503,305 | — | — | 503,305 |
Czech Republic | 1,530,491 | — | — | 1,530,491 |
Egypt | — | 168,819 | — | 168,819 |
Greece | — | 3,276,844 | — | 3,276,844 |
Hong Kong | — | 263,316 | — | 263,316 |
Hungary | 174,731 | 1,262,236 | — | 1,436,967 |
India | — | 28,590,998 | — | 28,590,998 |
Indonesia | 423,742 | 10,098,635 | — | 10,522,377 |
Kuwait | — | 5,371,826 | — | 5,371,826 |
Malaysia | 1,643,364 | 4,086,237 | — | 5,729,601 |
Mexico | 20,276,256 | — | — | 20,276,256 |
Pakistan | 150,145 | — | — | 150,145 |
Philippines | — | 1,306,751 | — | 1,306,751 |
Qatar | 544,067 | 4,267,428 | — | 4,811,495 |
Russia | — | — | 116,868 | 116,868 |
Saudi Arabia | — | 13,111,313 | — | 13,111,313 |
Singapore | — | 61,620 | — | 61,620 |
South Africa | 4,550,406 | 6,561,387 | — | 11,111,793 |
Taiwan | — | 33,332,412 | — | 33,332,412 |
Thailand | 7,083,603 | 2,015,727 | — | 9,099,330 |
Turkey | 5,723,395 | 16,749,880 | — | 22,473,275 |
United Arab Emirates | 169,250 | 6,339,573 | — | 6,508,823 |
United States | 608,911 | — | — | 608,911 |
Total Common Stocks | 73,449,821 | 207,174,244 | 116,868 | 280,740,933 |
Short-Term Investments | ||||
Investment of Cash Collateral from Securities Loaned | 102,725 | — | — | 102,725 |
Total Investments in Securities | $73,552,546 | $207,174,244 | $116,868 | $280,843,658 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts | $13,228 | $— | $— | $13,228 |
International Equity ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | ||||
Australia | $— | $85,568,810 | $— | $85,568,810 |
Austria | — | 4,185,863 | — | 4,185,863 |
Belgium | — | 1,318,038 | — | 1,318,038 |
Brazil | — | 2,546,481 | — | 2,546,481 |
Cambodia | — | 98,288 | — | 98,288 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 223 |
AS OF April 30, 2023 (Unaudited) (continued)
International Equity ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Chile | $— | $2,917,645 | $— | $2,917,645 |
China | — | 12,265,413 | — | 12,265,413 |
Denmark | — | 6,679,203 | — | 6,679,203 |
Finland | — | 9,982,652 | — | 9,982,652 |
France | — | 40,244,732 | — | 40,244,732 |
Germany | — | 19,900,545 | — | 19,900,545 |
Hong Kong | — | 25,136,772 | — | 25,136,772 |
Indonesia | — | 204,267 | — | 204,267 |
Ireland | — | 3,713,488 | — | 3,713,488 |
Italy | — | 18,102,135 | — | 18,102,135 |
Japan | — | 246,148,199 | — | 246,148,199 |
Jordan | — | 2,990,125 | — | 2,990,125 |
Luxembourg | — | 1,193,556 | — | 1,193,556 |
Mexico | — | 1,174,321 | — | 1,174,321 |
Netherlands | — | 25,768,480 | — | 25,768,480 |
New Zealand | — | 4,799,339 | — | 4,799,339 |
Norway | — | 8,500,472 | — | 8,500,472 |
Portugal | — | 2,718,717 | — | 2,718,717 |
Russia | — | — | 20,243 | 20,243 |
Singapore | — | 27,434,113 | — | 27,434,113 |
South Africa | — | 2,241,578 | — | 2,241,578 |
South Korea | — | 52,345,576 | — | 52,345,576 |
Spain | — | 19,967,981 | — | 19,967,981 |
Sweden | — | 19,146,892 | — | 19,146,892 |
Switzerland | — | 12,018,706 | — | 12,018,706 |
United Kingdom | — | 128,695,951 | — | 128,695,951 |
United States | — | 19,644,841 | — | 19,644,841 |
Total Common Stocks | — | 807,653,179 | 20,243 | 807,673,422 |
Short-Term Investments | ||||
Investment Companies | 569,151 | — | — | 569,151 |
Investment of Cash Collateral from Securities Loaned | 13,885,756 | — | — | 13,885,756 |
Total Short-Term Investments | 14,454,907 | — | — | 14,454,907 |
Total Investments in Securities | $14,454,907 | $807,653,179 | $20,243 | $822,128,329 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts | $242,489 | $— | $— | $242,489 |
U.S. Equity ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $511,484,778 | $— | $— | $511,484,778 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $25,556 | $— | $— | $25,556 |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
224 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
U.S. Mid Cap Equity ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $344,752,569 | $— | $— | $344,752,569 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $16,814 | $— | $— | $16,814 |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
U.S. Small Cap Equity ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | ||||
Aerospace & Defense | $396,742 | $— | $— | $396,742 |
Automobiles & Parts | 1,697,862 | — | — | 1,697,862 |
Banks | 16,042,797 | — | — | 16,042,797 |
Beverages | 6,498,470 | — | — | 6,498,470 |
Chemicals | 13,838,772 | — | — | 13,838,772 |
Construction & Materials | 7,302,282 | — | — | 7,302,282 |
Consumer Services | 2,758,257 | — | — | 2,758,257 |
Electricity | 8,015,778 | — | — | 8,015,778 |
Electronic & Electrical Equipment | 5,277,008 | — | — | 5,277,008 |
Finance & Credit Services | 6,708,860 | — | — | 6,708,860 |
Food Producers | 18,330,287 | — | — | 18,330,287 |
Gas, Water & Multi-utilities | 14,562,138 | — | — | 14,562,138 |
General Industrials | 5,146,539 | — | — | 5,146,539 |
Health Care Providers | 10,987,982 | — | — | 10,987,982 |
Household Goods & Home Construction | 7,639,260 | — | — | 7,639,260 |
Industrial Engineering | 4,035,225 | — | — | 4,035,225 |
Industrial Materials | 8,031,015 | — | — | 8,031,015 |
Industrial Metals & Mining | 13,828,174 | — | — | 13,828,174 |
Industrial Support Services | 9,099,078 | — | — | 9,099,078 |
Industrial Transportation | 10,452,198 | — | — | 10,452,198 |
Investment Banking & Brokerage Services | 4,449,602 | — | — | 4,449,602 |
Leisure Goods | 3,633,172 | — | — | 3,633,172 |
Life Insurance | 4,496,160 | — | — | 4,496,160 |
Media | 1,617,635 | — | — | 1,617,635 |
Medical Equipment & Services | 13,313,101 | — | — | 13,313,101 |
Mortgage Real Estate Investment Trusts | 5,967,519 | — | — | 5,967,519 |
Nonequity Investment Instruments | 93,041 | — | — | 93,041 |
Non-life Insurance | 4,795,815 | — | — | 4,795,815 |
Non-Renewable Energy | 22,214,171 | — | — | 22,214,171 |
Personal Care, Drug & Grocery Stores | 10,656,239 | — | — | 10,656,239 |
Personal Goods | 3,212,528 | — | — | 3,212,528 |
Pharmaceuticals, Biotechnology & Marijuana Producers | 17,525,274 | — | 31,810 | 17,557,084 |
Precious Metals & Mining | 1,055,156 | — | — | 1,055,156 |
Real Estate Investment & Services | 3,150,112 | — | — | 3,150,112 |
Real Estate Investment Trusts | 35,817,594 | — | — | 35,817,594 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 225 |
AS OF April 30, 2023 (Unaudited) (continued)
U.S. Small Cap Equity ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Renewable Energy | $1,699,122 | $— | $— | $1,699,122 |
Retailers | 10,017,751 | — | — | 10,017,751 |
Software & Computer Services | 14,960,120 | — | — | 14,960,120 |
Technology Hardware & Equipment | 24,939,767 | — | — | 24,939,767 |
Telecommunications Equipment | 10,091,604 | — | — | 10,091,604 |
Telecommunications Service Providers | 8,746,917 | — | — | 8,746,917 |
Tobacco | 2,857,852 | — | — | 2,857,852 |
Travel & Leisure | 1,091,382 | — | — | 1,091,382 |
Waste & Disposal Services | 2,036,101 | — | — | 2,036,101 |
Total Common Stocks | 379,086,459 | — | 31,810 | 379,118,269 |
Rights | — | — | 6,379 | 6,379 |
Short-Term Investments | ||||
Investment Companies | 685,213 | — | — | 685,213 |
Investment of Cash Collateral from Securities Loaned | 22,947,295 | — | — | 22,947,295 |
Total Short-Term Investments | 23,632,508 | — | — | 23,632,508 |
Total Investments in Securities | $402,718,967 | $— | $38,189 | $402,757,156 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts | $1,574 | $— | $— | $1,574 |
U.S. Momentum Factor ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $239,455,177 | $— | $— | $239,455,177 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $17,407 | $— | $— | $17,407 |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
U.S. Quality Factor ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $1,238,454,773 | $— | $— | $1,238,454,773 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $48,379 | $— | $— | $48,379 |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
U.S. Value Factor ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $564,404,051 | $— | $— | $564,404,051 |
226 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
U.S. Value Factor ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Appreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $15,410 | $— | $— | $15,410 |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
Investment Securities on Loan, at value, Presented on the Statements of Assets and Liabilities | Cash Collateral Posted by Borrower* | Net Amount Due to Counterparty (not less than zero) | |
BetaBuilders Canada ETF | $426,409,614 | $(426,409,614 ) | $— |
BetaBuilders Developed Asia Pacific ex-Japan ETF | 66,231 | (66,231 ) | — |
BetaBuilders Europe ETF | 322,961,901 | (322,961,901 ) | — |
BetaBuilders International Equity ETF | 72,676,586 | (72,676,586 ) | — |
BetaBuilders Japan ETF | 38,169,726 | (38,169,726 ) | — |
BetaBuilders U.S. Equity ETF | 1,144,759 | (1,144,759 ) | — |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 227 |
AS OF April 30, 2023 (Unaudited) (continued)
Investment Securities on Loan, at value, Presented on the Statements of Assets and Liabilities | Cash Collateral Posted by Borrower* | Net Amount Due to Counterparty (not less than zero) | |
BetaBuilders U.S. Mid Cap Equity ETF | $143,449,282 | $(143,449,282 ) | $— |
BetaBuilders U.S. Small Cap Equity ETF | 66,919,624 | (66,919,624 ) | — |
Emerging Markets Equity ETF | 84,919 | (84,919 ) | — |
International Equity ETF | 13,213,390 | (13,213,390 ) | — |
U.S. Equity ETF | 11,942,167 | (11,942,167 ) | — |
U.S. Mid Cap Equity ETF | 1,323,835 | (1,323,835 ) | — |
U.S. Small Cap Equity ETF | 22,458,095 | (22,458,095 ) | — |
U.S. Momentum Factor ETF | 494,406 | (494,406 ) | — |
U.S. Quality Factor ETF | 37,814,933 | (37,814,933 ) | — |
U.S. Value Factor ETF | 2,557,017 | (2,557,017 ) | — |
* | Collateral posted reflects the value of securities on loan and does not include any additional amounts received from the borrower. |
BetaBuilders Canada ETF | $70,610 |
BetaBuilders Developed Asia Pacific ex-Japan ETF | 634 |
BetaBuilders Europe ETF | 6,266 |
BetaBuilders International Equity ETF | 2,152 |
BetaBuilders Japan ETF | 5,825 |
BetaBuilders U.S. Equity ETF | 134 |
BetaBuilders U.S. Mid Cap Equity ETF | 2,931 |
BetaBuilders U.S. Small Cap Equity ETF | 1,244 |
Emerging Markets Equity ETF | 41 |
International Equity ETF | 901 |
U.S. Equity ETF | 142 |
U.S. Mid Cap Equity ETF | 78 |
U.S. Small Cap Equity ETF | 1,128 |
U.S. Momentum Factor ETF | 291 |
U.S. Quality Factor ETF | 1,323 |
U.S. Value Factor ETF | 825 |
228 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
BetaBuilders Canada ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.01% (a) (b) | $111,362,203 | $1,944,454,270 | $1,848,286,897 | $79,988 * | $(20,757 ) | $207,588,807 | 207,568,050 | $3,986,203 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | 339,229,246 | 3,946,360,873 | 4,047,953,639 | — | — | 237,636,480 | 237,636,480 | 4,730,642 * | — |
Total | $450,591,449 | $5,890,815,143 | $5,896,240,536 | $79,988 | $(20,757 ) | $445,225,287 | $8,716,845 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
BetaBuilders Developed Asia Pacific ex-Japan ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.01% (a) (b) | $54,456 | $— | $54,467 | $44 * | $(33 ) | $— | — | $243 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | 135,282 | 19,496,509 | 19,562,741 | — | — | 69,050 | 69,050 | 40,792 * | — |
Total | $189,738 | $19,496,509 | $19,617,208 | $44 | $(33 ) | $69,050 | $41,035 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 229 |
AS OF April 30, 2023 (Unaudited) (continued)
BetaBuilders Europe ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.01% (a) (b) | $35,657,896 | $449,000,000 | $185,000,000 | $2,296 * | $(44,914 ) | $299,615,278 | 299,585,319 | $2,029,238 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | 4,769,602 | 432,136,794 | 395,323,981 | — | — | 41,582,415 | 41,582,415 | 490,801 * | — |
Total | $40,427,498 | $881,136,794 | $580,323,981 | $2,296 | $(44,914 ) | $341,197,693 | $2,520,039 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
BetaBuilders International Equity ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.01% (a) (b) | $14,009,724 | $132,000,000 | $78,000,000 | $2,605 * | $(6,702 ) | $68,005,627 | 67,998,827 | $493,500 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | 3,852,619 | 132,902,438 | 128,130,837 | — | — | 8,624,220 | 8,624,220 | 134,796 * | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | 12,102,999 | 76,191,052 | 70,134,049 | — | — | 18,160,002 | 18,160,002 | 311,994 | — |
Total | $29,965,342 | $341,093,490 | $276,264,886 | $2,605 | $(6,702 ) | $94,789,849 | $940,290 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
230 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
BetaBuilders Japan ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.01% (a) (b) | $10,118,832 | $257,205,740 | $232,000,000 | $7,127 * | $(6,597 ) | $35,325,102 | 35,321,570 | $1,044,622 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | 9,777,050 | 271,770,150 | 276,384,685 | — | — | 5,162,515 | 5,162,515 | 303,109 * | — |
Total | $19,895,882 | $528,975,890 | $508,384,685 | $7,127 | $(6,597 ) | $40,487,617 | $1,347,731 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
BetaBuilders U.S. Equity ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Chase & Co. (a) | $13,752,768 | $3,829,740 | $2,100,036 | $562,810 | $927,687 | $16,972,969 | 122,779 | $229,884 | $— |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.01% (b) (c) | 1,501,652 | — | 1,501,652 | — | — | — | — | 420 * | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (b) (c) | 2,238,043 | 6,021,156 | 7,034,943 | — | — | 1,224,256 | 1,224,256 | 13,209 * | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (b) (c) | 8,865,488 | 17,562,282 | 19,613,755 | — | — | 6,814,015 | 6,814,015 | 180,480 | — |
Total | $26,357,951 | $27,413,178 | $30,250,386 | $562,810 | $927,687 | $25,011,240 | $423,993 | $— |
(a) | Investment in affiliate. This security is included in an index in which the Fund, as an index fund, tracks. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of April 30, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
BetaBuilders U.S. Mid Cap Equity ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.01% (a) (b) | $33,490,848 | $182,000,001 | $86,000,000 | $10,844 * | $(37,583 ) | $129,464,110 | 129,451,165 | $1,456,198 * | $— |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 231 |
AS OF April 30, 2023 (Unaudited) (continued)
BetaBuilders U.S. Mid Cap Equity ETF (continued) | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | $4,093,018 | $133,898,877 | $121,024,328 | $— | $— | $16,967,567 | 16,967,567 | $239,197 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | 7,709,091 | 53,793,370 | 47,406,163 | — | — | 14,096,298 | 14,096,298 | 264,493 | — |
Total | $45,292,957 | $369,692,248 | $254,430,491 | $10,844 | $(37,583 ) | $160,527,975 | $1,959,888 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
BetaBuilders U.S. Small Cap Equity ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.01% (a) (b) | $10,003,601 | $64,000,000 | $13,000,000 | $7,501 * | $(17,696 ) | $60,993,406 | 60,987,307 | $542,903 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | 1,618,100 | 65,787,901 | 59,286,906 | — | — | 8,119,095 | 8,119,095 | 102,973 * | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | 8,224,756 | 24,042,241 | 23,925,295 | — | — | 8,341,702 | 8,341,702 | 141,445 | — |
Total | $19,846,457 | $153,830,142 | $96,212,201 | $7,501 | $(17,696 ) | $77,454,203 | $787,321 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
Carbon Transition U.S. Equity ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | $31,835 | $362,273 | $371,825 | $— | $— | $22,283 | 22,283 | $821 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
232 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
Emerging Markets Equity ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | $182,157 | $438,004 | $517,436 | $— | $— | $102,725 | 102,725 | $1,952 * | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
International Equity ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 4.95% (a) (b) | $569,398 | $22,634,116 | $22,635,562 | $1,167 | $32 | $569,151 | 568,980 | $26,141 | $— |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.01% (a) (b) | 2,258,925 | 31,000,000 | 21,000,000 | 1,685 * | (2,758 ) | 12,257,852 | 12,256,626 | 177,067 * | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | 1,789,624 | 51,211,928 | 51,373,648 | — | — | 1,627,904 | 1,627,904 | 53,747 * | — |
Total | $4,617,947 | $104,846,044 | $95,009,210 | $2,852 | $(2,726 ) | $14,454,907 | $256,955 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
U.S. Equity ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.01% (a) (b) | $200,027 | $10,000,000 | $— | $— | $(980 ) | $10,199,047 | 10,198,028 | $16,332 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | 191,848 | 26,261,586 | 24,514,568 | — | — | 1,938,866 | 1,938,866 | 12,270 * | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | 1,020,750 | 16,047,739 | 16,707,575 | — | — | 360,914 | 360,914 | 22,474 | — |
Total | $1,412,625 | $52,309,325 | $41,222,143 | $— | $(980 ) | $12,498,827 | $51,076 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 233 |
AS OF April 30, 2023 (Unaudited) (continued)
U.S. Mid Cap Equity ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | $— | $6,103,670 | $4,747,878 | $— | $— | $1,355,792 | 1,355,792 | $9,474 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | 414,054 | 7,127,760 | 6,881,962 | — | — | 659,852 | 659,852 | 13,325 | — |
Total | $414,054 | $13,231,430 | $11,629,840 | $— | $— | $2,015,644 | $22,799 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
U.S. Small Cap Equity ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.01% (a) (b) | $19,342,762 | $43,000,000 | $44,700,000 | $9,767 * | $(6,532 ) | $17,645,997 | 17,644,232 | $398,968 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | 2,902,497 | 67,701,549 | 65,302,748 | — | — | 5,301,298 | 5,301,298 | 74,005 * | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | 325,140 | 11,775,358 | 11,415,285 | — | — | 685,213 | 685,213 | 20,755 | — |
Total | $22,570,399 | $122,476,907 | $121,418,033 | $9,767 | $(6,532 ) | $23,632,508 | $493,728 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
U.S. Momentum Factor ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | $1,131,417 | $7,092,809 | $7,715,144 | $— | $— | $509,082 | 509,082 | $16,422 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | 340,337 | 5,403,166 | 5,312,867 | — | — | 430,636 | 430,636 | 10,538 | — |
Total | $1,471,754 | $12,495,975 | $13,028,011 | $— | $— | $939,718 | $26,960 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
234 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
U.S. Quality Factor ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.01% (a) (b) | $16,497,925 | $77,011,297 | $60,000,000 | $7,750 * | $(4,305 ) | $33,512,667 | 33,509,316 | $453,059 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | 3,688,865 | 85,365,490 | 84,401,232 | — | — | 4,653,123 | 4,653,123 | 83,400 * | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | 785,535 | 10,747,396 | 10,724,939 | — | — | 807,992 | 807,992 | 32,556 | — |
Total | $20,972,325 | $173,124,183 | $155,126,171 | $7,750 | $(4,305 ) | $38,973,782 | $569,015 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
U.S. Value Factor ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.01% (a) (b) | $297,072 | $80,999,500 | $81,000,000 | $(5,630 )* | $(237 ) | $290,705 | 290,676 | $287,797 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | 623,020 | 62,691,472 | 61,018,488 | — | — | 2,296,004 | 2,296,004 | 68,506 * | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | 377,263 | 17,469,570 | 16,697,047 | — | — | 1,149,786 | 1,149,786 | 24,333 | — |
Total | $1,297,355 | $161,160,542 | $158,715,535 | $(5,630 ) | $(237 ) | $3,736,495 | $380,636 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 235 |
AS OF April 30, 2023 (Unaudited) (continued)
BetaBuilders Canada ETF | BetaBuilders Developed Asia Pacific ex-Japan ETF | BetaBuilders Europe ETF | BetaBuilders International Equity ETF | BetaBuilders Japan ETF | BetaBuilders U.S. Equity ETF | |
Futures Contracts: | ||||||
Average Notional Balance Long | $40,588,806 | $26,343,409 | $51,627,962 | $28,555,127 | $58,292,738 | $9,485,775 |
Ending Notional Balance Long | 30,783,172 | 34,737,381 | 78,799,795 | 42,036,410 | 95,773,093 | 7,959,100 |
BetaBuilders U.S. Mid Cap Equity ETF | BetaBuilders U.S. Small Cap Equity ETF | Carbon Transition U.S. Equity ETF | Emerging Markets Equity ETF | International Equity ETF | U.S. Equity ETF | |
Futures Contracts: | ||||||
Average Notional Balance Long | $11,381,241 | $7,441,356 | $37,272 | $383,313 | $4,320,529 | $973,882 |
Ending Notional Balance Long | 15,009,600 | 9,139,190 | 41,900 | 295,290 | 5,375,500 | 628,350 |
U.S. Mid Cap Equity ETF | U.S. Small Cap Equity ETF | U.S. Momentum Factor ETF | U.S. Quality Factor ETF | U.S. Value Factor ETF | |
Futures Contracts: | |||||
Average Notional Balance Long | $650,193 | $939,371 | $433,532 | $1,352,189 | $1,001,577 |
Ending Notional Balance Long | 750,480 | 443,650 | 481,850 | 837,800 | 209,450 |
236 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
BetaBuilders Canada ETF | 0.19 % |
BetaBuilders Developed Asia Pacific ex-Japan ETF | 0.19 |
BetaBuilders Europe ETF | 0.09 |
BetaBuilders International Equity ETF | 0.07 |
BetaBuilders Japan ETF | 0.19 |
BetaBuilders U.S. Equity ETF | 0.02 |
BetaBuilders U.S. Mid Cap Equity ETF | 0.07 |
BetaBuilders U.S. Small Cap Equity ETF | 0.09 |
Carbon Transition U.S. Equity ETF | 0.15 |
Emerging Markets Equity ETF | 0.44 |
International Equity ETF | 0.37 |
U.S. Equity ETF | 0.18 |
U.S. Mid Cap Equity ETF | 0.24 |
U.S. Small Cap Equity ETF | 0.29 |
U.S. Momentum Factor ETF | 0.12 |
U.S. Quality Factor ETF | 0.12 |
U.S. Value Factor ETF | 0.12 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 237 |
AS OF April 30, 2023 (Unaudited) (continued)
Purchases (excluding U.S. Government) | Sales (excluding U.S. Government) | |
BetaBuilders Canada ETF | $133,768,986 | $124,059,152 |
BetaBuilders Developed Asia Pacific ex-Japan ETF | 196,896,972 | 78,800,339 |
BetaBuilders Europe ETF | 205,436,203 | 86,860,575 |
BetaBuilders International Equity ETF | 77,971,514 | 48,317,718 |
BetaBuilders Japan ETF | 49,419,266 | 82,045,763 |
BetaBuilders U.S. Equity ETF | 14,846,791 | 26,504,401 |
BetaBuilders U.S. Mid Cap Equity ETF | 98,559,075 | 127,952,484 |
BetaBuilders U.S. Small Cap Equity ETF | 57,238,855 | 70,524,981 |
Carbon Transition U.S. Equity ETF | 2,120,623 | 2,463,453 |
Emerging Markets Equity ETF | 96,292,731 | 31,313,349 |
International Equity ETF | 99,763,817 | 93,139,587 |
U.S. Equity ETF | 75,238,191 | 78,736,367 |
U.S. Mid Cap Equity ETF | 28,994,089 | 29,409,422 |
U.S. Small Cap Equity ETF | 34,540,485 | 38,415,007 |
U.S. Momentum Factor ETF | 47,875,860 | 48,522,441 |
U.S. Quality Factor ETF | 70,082,466 | 80,266,756 |
U.S. Value Factor ETF | 85,519,659 | 100,872,376 |
In-Kind Purchases | In-Kind Sales | |
BetaBuilders Canada ETF | $404,853,103 | $278,302,933 |
BetaBuilders Developed Asia Pacific ex-Japan ETF | 418,529,468 | 19,350,516 |
BetaBuilders Europe ETF | 5,641,727,819 | 735,565,888 |
BetaBuilders International Equity ETF | 415,016,139 | 230,202,153 |
238 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
In-Kind Purchases | In-Kind Sales | |
BetaBuilders Japan ETF | $332,154,483 | $90,737,423 |
BetaBuilders U.S. Equity ETF | 332,173,029 | 166,631,820 |
BetaBuilders U.S. Mid Cap Equity ETF | 389,895,098 | 165,493,155 |
BetaBuilders U.S. Small Cap Equity ETF | 322,639,198 | 79,896,078 |
Carbon Transition U.S. Equity ETF | 2,685,288 | 2,230,237 |
Emerging Markets Equity ETF | 32,909,861 | 2,079,441 |
International Equity ETF | 22,486,541 | 18,002,287 |
U.S. Equity ETF | 49,286,216 | 63,955,285 |
U.S. Mid Cap Equity ETF | 120,191,074 | 50,323,758 |
U.S. Small Cap Equity ETF | 146,449,368 | 38,643,660 |
U.S. Momentum Factor ETF | 7,860,921 | 5,234,050 |
U.S. Quality Factor ETF | 649,425,897 | 91,279,693 |
U.S. Value Factor ETF | 434,955,857 | 312,406,240 |
Aggregate Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | |
BetaBuilders Canada ETF | $5,701,482,933 | $1,018,505,201 | $124,826,192 | $893,679,009 |
BetaBuilders Developed Asia Pacific ex-Japan ETF | 4,492,552,329 | 190,293,328 | 275,251,637 | (84,958,309 ) |
BetaBuilders Europe ETF | 9,790,992,325 | 549,853,182 | 445,793,276 | 104,059,906 |
BetaBuilders International Equity ETF | 3,306,733,894 | 485,829,499 | 197,512,706 | 288,316,793 |
BetaBuilders Japan ETF | 8,007,606,419 | 385,785,849 | 997,461,619 | (611,675,770 ) |
BetaBuilders U.S. Equity ETF | 1,522,913,395 | 111,941,181 | 106,694,857 | 5,246,324 |
BetaBuilders U.S. Mid Cap Equity ETF | 1,803,271,629 | 139,734,798 | 210,367,089 | (70,632,291 ) |
BetaBuilders U.S. Small Cap Equity ETF | 833,768,074 | 50,930,394 | 120,776,762 | (69,846,368 ) |
Carbon Transition U.S. Equity ETF | 20,966,409 | 2,563,150 | 1,098,038 | 1,465,112 |
Emerging Markets Equity ETF | 268,739,094 | 34,203,039 | 22,085,247 | 12,117,792 |
International Equity ETF | 812,113,385 | 91,401,679 | 81,144,246 | 10,257,433 |
U.S. Equity ETF | 469,599,754 | 65,184,261 | 23,273,681 | 41,910,580 |
U.S. Mid Cap Equity ETF | 335,785,496 | 25,237,163 | 16,253,276 | 8,983,887 |
U.S. Small Cap Equity ETF | 413,826,101 | 20,812,663 | 31,880,034 | (11,067,371 ) |
U.S. Momentum Factor ETF | 230,708,141 | 19,946,072 | 11,181,629 | 8,764,443 |
U.S. Quality Factor ETF | 1,180,356,953 | 80,559,215 | 22,413,016 | 58,146,199 |
U.S. Value Factor ETF | 603,950,727 | 16,799,945 | 56,331,211 | (39,531,266 ) |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 239 |
AS OF April 30, 2023 (Unaudited) (continued)
Capital Loss Carryforward Character | ||
Short-Term | Long-Term | |
BetaBuilders Canada ETF | $54,415,002 | $121,890,580 |
BetaBuilders Developed Asia Pacific ex-Japan ETF | 95,275,844 | 79,088,224 |
BetaBuilders Europe ETF | 111,282,137 | 131,656,046 |
BetaBuilders International Equity ETF | 25,948,932 | 27,223,413 |
BetaBuilders Japan ETF | 79,312,027 | 161,069,212 |
BetaBuilders U.S. Equity ETF | 15,995,378 | 2,066,163 |
BetaBuilders U.S. Mid Cap Equity ETF | 120,310,069 | 33,547,688 |
BetaBuilders U.S. Small Cap Equity ETF | 35,062,221 | 8,267,275 |
Carbon Transition U.S. Equity ETF | 1,099,727 | 309,681 |
Emerging Markets Equity ETF | 26,014,239 | 5,149,424 |
International Equity ETF | 50,182,642 | 78,717,829 |
U.S. Equity ETF | 27,942,518 | 8,461,656 |
U.S. Mid Cap Equity ETF | 12,737,239 | 1,060,104 |
U.S. Small Cap Equity ETF | 15,236,353 | 5,259,486 |
U.S. Momentum Factor ETF | 22,566,377 | 2,302,894 |
U.S. Quality Factor ETF | 26,963,158 | 8,019,573 |
U.S. Value Factor ETF | 44,202,604 | 8,769,787 |
Capital Loss Utilized | ||
Short-Term | Long-Term | |
U.S. Equity ETF | $— | $3,008,424 |
U.S. Mid Cap Equity ETF | — | 3,252,019 |
Average Borrowings | Average Interest Rate paid | Number of Days Outstanding | Interest Paid | |
U.S. Value Factor ETF | $1,533,838 | 5.56 % | 3 | $711 |
240 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
JPMorgan SmartRetirement Funds | JPMorgan SmartRetirement Blend Funds | |
BetaBuilders International Equity ETF | — % | 81.3 % |
BetaBuilders U.S. Mid Cap Equity ETF | 52.1 | 45.9 |
BetaBuilders U.S. Small Cap Equity ETF | — | 88.8 |
% of Ownership | |
Carbon Transition U.S. Equity ETF | 75 % |
BetaBuilders Canada ETF | BetaBuilders Developed Asia Pacific ex-Japan ETF | BetaBuilders Europe ETF | BetaBuilders International Equity ETF | BetaBuilders Japan ETF | Emerging Markets Equity ETF | International Equity ETF | |
Australia | — % | 58.2 % | — % | — % | — % | — % | 10.6 % |
Canada | 95.5 | — | — | — | — | — | — |
China | — | — | — | — | — | 25.5 | — |
France | — | — | 15.7 | 10.2 | — | — | — |
Germany | — | — | 12.1 | — | — | — | — |
Hong Kong | — | 19.2 | — | — | — | — | — |
India | — | — | — | — | — | 10.2 | — |
Japan | — | — | — | 22.7 | 100.0 | — | 30.5 |
Singapore | — | 10.6 | — | — | — | — | — |
Taiwan | — | — | — | — | — | 11.9 | — |
United Kingdom | — | — | 18.2 | 11.9 | — | — | 15.9 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 241 |
AS OF April 30, 2023 (Unaudited) (continued)
242 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
(Unaudited)
Hypothetical $1,000 Investment
Beginning Account Value November 1, 2022 | Ending Account Value April 30, 2023 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan BetaBuilders Canada ETF | ||||
Actual | $1,000.00 | $1,083.90 | $0.98 | 0.19 % |
Hypothetical | 1,000.00 | 1,023.85 | 0.95 | 0.19 |
JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF | ||||
Actual | 1,000.00 | 1,176.30 | 1.03 | 0.19 |
Hypothetical | 1,000.00 | 1,023.85 | 0.95 | 0.19 |
JPMorgan BetaBuilders Europe ETF | ||||
Actual | 1,000.00 | 1,284.80 | 0.51 | 0.09 |
Hypothetical | 1,000.00 | 1,024.35 | 0.45 | 0.09 |
JPMorgan BetaBuilders International Equity ETF | ||||
Actual | 1,000.00 | 1,244.30 | 0.39 | 0.07 |
Hypothetical | 1,000.00 | 1,024.45 | 0.35 | 0.07 |
JPMorgan BetaBuilders Japan ETF | ||||
Actual | 1,000.00 | 1,176.80 | 1.03 | 0.19 |
Hypothetical | 1,000.00 | 1,023.85 | 0.95 | 0.19 |
JPMorgan BetaBuilders U.S. Equity ETF | ||||
Actual | 1,000.00 | 1,083.60 | 0.10 | 0.02 |
Hypothetical | 1,000.00 | 1,024.70 | 0.10 | 0.02 |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | ||||
Actual | 1,000.00 | 1,016.10 | 0.35 | 0.07 |
Hypothetical | 1,000.00 | 1,024.45 | 0.35 | 0.07 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF | ||||
Actual | 1,000.00 | 977.10 | 0.44 | 0.09 |
Hypothetical | 1,000.00 | 1,024.35 | 0.45 | 0.09 |
JPMorgan Carbon Transition U.S. Equity ETF | ||||
Actual | 1,000.00 | 1,080.10 | 0.77 | 0.15 |
Hypothetical | 1,000.00 | 1,024.05 | 0.75 | 0.15 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 243 |
(Unaudited) (continued)
Hypothetical $1,000 Investment
Beginning Account Value November 1, 2022 | Ending Account Value April 30, 2023 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan Diversified Return Emerging Markets Equity ETF | ||||
Actual | $1,000.00 | $1,133.60 | $2.33 | 0.44 % |
Hypothetical | 1,000.00 | 1,022.61 | 2.21 | 0.44 |
JPMorgan Diversified Return International Equity ETF | ||||
Actual | 1,000.00 | 1,216.40 | 2.03 | 0.37 |
Hypothetical | 1,000.00 | 1,022.96 | 1.86 | 0.37 |
JPMorgan Diversified Return U.S. Equity ETF | ||||
Actual | 1,000.00 | 1,036.30 | 0.91 | 0.18 |
Hypothetical | 1,000.00 | 1,023.90 | 0.90 | 0.18 |
JPMorgan Diversified Return U.S. Mid Cap Equity ETF | ||||
Actual | 1,000.00 | 1,038.30 | 1.21 | 0.24 |
Hypothetical | 1,000.00 | 1,023.60 | 1.20 | 0.24 |
JPMorgan Diversified Return U.S. Small Cap Equity ETF | ||||
Actual | 1,000.00 | 987.20 | 1.43 | 0.29 |
Hypothetical | 1,000.00 | 1,023.36 | 1.45 | 0.29 |
JPMorgan U.S. Momentum Factor ETF | ||||
Actual | 1,000.00 | 1,042.00 | 0.61 | 0.12 |
Hypothetical | 1,000.00 | 1,024.20 | 0.60 | 0.12 |
JPMorgan U.S. Quality Factor ETF | ||||
Actual | 1,000.00 | 1,103.80 | 0.63 | 0.12 |
Hypothetical | 1,000.00 | 1,024.20 | 0.60 | 0.12 |
JPMorgan U.S. Value Factor ETF | ||||
Actual | 1,000.00 | 1,047.80 | 0.61 | 0.12 |
Hypothetical | 1,000.00 | 1,024.20 | 0.60 | 0.12 |
* | Expenses are equal to each Fund's respective annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
244 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
(Unaudited)
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 245 |
Fund | Ticker | Listing Exchange |
JPMorgan Climate Change Solutions ETF | TEMP | NYSE Arca |
JPMorgan Social Advancement ETF | UPWD | Nasdaq Stock Market® LLC |
JPMorgan Sustainable Consumption ETF | CIRC | Nasdaq Stock Market® LLC |
JPMorgan Sustainable Infrastructure ETF | BLLD | Nasdaq Stock Market® LLC |
1 | |
2 | |
3 | |
6 | |
9 | |
12 | |
15 | |
23 | |
28 | |
30 | |
41 | |
42 |
Past performance is no guarantee of future performance. The general market views expressed in this report are opinions based on market and other conditions through the end of the reporting period and are subject to change without notice. These views are not intended to predict the future performance of a Fund or the securities markets.
Prospective investors should refer to the Funds’ prospectuses for a discussion of the Funds’ investment objectives, strategies and risks. Call J.P. Morgan Exchange-Traded Funds at (844) 457-6383 for a prospectus containing more complete information about a Fund, including management fees and other expenses. Please read it carefully before investing.
Shares are bought and sold throughout the day on an exchange at market price (not at net asset value) through a brokerage account, and are not individually subscribed and redeemed from a Fund. Shares may only be subscribed and redeemed directly from a Fund by Authorized Participants, in very large creation/redemption units. Brokerage commissions will reduce returns.
June 15, 2023 (Unaudited)
“While the effects of rising interest rates is likely to adversely impact economic growth in the months ahead, other factors may aid the global economic outlook, as energy prices have trended downward in recent months and the re-opening of China’s economy may provide support for increased global trade.” — Brian S. Shlissel |
President, J.P. Morgan Exchange-Traded Funds
J.P. Morgan Asset Management
1-844-4JPM-ETF or jpmorgan.com/etfs for more information
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 1 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
2 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | 11.44% |
Market Price ** | 11.31% |
MSCI ACWI Index (net total return) | 12.68% |
Net Assets as of 4/30/2023 | $21,565,110 |
Fund Ticker | TEMP |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 3 |
SIX MONTHS ENDED April 30, 2023 (Unaudited) (continued)
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Schneider Electric SE | 4.3 % |
2. | Trane Technologies plc | 4.2 |
3. | Infineon Technologies AG (Germany) | 4.2 |
4. | Xylem, Inc. | 3.6 |
5. | Mercedes-Benz Group AG (Germany) | 3.6 |
6. | NextEra Energy, Inc. | 3.5 |
7. | Iberdrola SA (Spain) | 3.5 |
8. | Keyence Corp. (Japan) | 3.4 |
9. | Sika AG (Registered) (Switzerland) | 3.4 |
10. | Siemens AG (Registered) (Germany) | 3.3 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
United States | 40.9% |
Germany | 11.5 |
Switzerland | 7.1 |
South Korea | 6.0 |
Japan | 5.8 |
France | 5.4 |
Spain | 4.4 |
United Kingdom | 4.4 |
Sweden | 2.7 |
Finland | 2.5 |
Italy | 2.3 |
Canada | 1.7 |
Ireland | 1.5 |
Netherlands | 1.1 |
Denmark | 1.1 |
China | 1.0 |
Others (each less than 1.0%) | 0.3 |
Short-Term Investments | 0.3 |
4 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INCEPTION DATE | SIX MONTHS* | 1 YEAR | SINCE INCEPTION | |
JPMorgan Climate Change Solutions ETF | ||||
Net Asset Value | December 13, 2021 | 11.44 % | 4.90 % | (12.94 )% |
Market Price | 11.31 | 5.10 | (12.75 ) |
* | Not annualized. |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 5 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | 14.39% |
Market Price ** | 14.36% |
MSCI ACWI Index (net total return) | 12.68% |
Net Assets as of 4/30/2023 | $12,119,919 |
Fund Ticker | UPWD |
6 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Microsoft Corp. | 6.5 % |
2. | RELX plc (United Kingdom) | 3.6 |
3. | Vinci SA (France) | 3.4 |
4. | UnitedHealth Group, Inc. | 3.3 |
5. | ASML Holding NV (Netherlands) | 3.0 |
6. | Novo Nordisk A/S, Class B (Denmark) | 2.8 |
7. | HDFC Bank Ltd., ADR (India) | 2.6 |
8. | Alphabet, Inc., Class A | 2.6 |
9. | Waste Connections, Inc. | 2.6 |
10. | IDP Education Ltd. (Australia) | 2.5 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
United States | 47.3% |
United Kingdom | 7.5 |
Netherlands | 6.8 |
Japan | 5.6 |
Australia | 3.5 |
France | 3.4 |
Denmark | 2.8 |
India | 2.6 |
Ireland | 2.3 |
Mexico | 2.1 |
Switzerland | 1.8 |
Portugal | 1.6 |
China | 1.6 |
Germany | 1.4 |
Hong Kong | 1.3 |
Brazil | 1.2 |
Indonesia | 1.1 |
Nigeria | 1.1 |
Belgium | 1.0 |
Peru | 1.0 |
Others (each less than 1.0%) | 1.4 |
Short-Term Investments | 1.6 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 7 |
SIX MONTHS ENDED April 30, 2023 (Unaudited) (continued)
INCEPTION DATE | SIX MONTHS* | CUMULATIVE SINCE INCEPTION | |
JPMorgan Social Advancement ETF | |||
Net Asset Value | September 7, 2022 | 14.39 % | 12.84 % |
Market Price | 14.36 | 13.03 |
* | Not annualized. |
8 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | 9.29% |
Market Price ** | 9.03% |
MSCI ACWI Index (net total return) | 12.68% |
Net Assets as of 4/30/2023 | $11,512,327 |
Fund Ticker | CIRC |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 9 |
SIX MONTHS ENDED April 30, 2023 (Unaudited) (continued)
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Trane Technologies plc | 3.1 % |
2. | Xylem, Inc. | 2.7 |
3. | SIG Group AG (Switzerland) | 2.6 |
4. | Brambles Ltd. (Australia) | 2.6 |
5. | Deere & Co. | 2.5 |
6. | Tate & Lyle plc (United Kingdom) | 2.4 |
7. | ASML Holding NV (Netherlands) | 2.4 |
8. | NIKE, Inc., Class B | 2.4 |
9. | UnitedHealth Group, Inc. | 2.3 |
10. | Tetra Tech, Inc. | 2.3 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
United States | 54.3% |
Japan | 6.7 |
Germany | 5.7 |
Switzerland | 5.0 |
United Kingdom | 3.8 |
Ireland | 2.9 |
Australia | 2.6 |
France | 2.6 |
China | 2.5 |
Netherlands | 2.4 |
Taiwan | 2.2 |
Canada | 2.0 |
Finland | 2.0 |
Denmark | 1.7 |
Norway | 1.6 |
Sweden | 1.1 |
Short-Term Investments | 0.9 |
10 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INCEPTION DATE | SIX MONTHS* | CUMULATIVE SINCE INCEPTION | |
JPMorgan Sustainable Consumption ETF | |||
Net Asset Value | September 7, 2022 | 9.29 % | 7.03 % |
Market Price | 9.03 | 7.10 |
* | Not annualized. |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 11 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | 12.05% |
Market Price ** | 12.09% |
MSCI ACWI Index (net total return) | 12.68% |
Net Assets as of 4/30/2023 | $10,748,408 |
Fund Ticker | BLLD |
12 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Iberdrola SA (Spain) | 4.1 % |
2. | SSE plc (United Kingdom) | 3.6 |
3. | NextEra Energy, Inc. | 3.6 |
4. | HCA Healthcare, Inc. | 3.5 |
5. | Union Pacific Corp. | 3.4 |
6. | Canadian National Railway Co. (Canada) | 3.4 |
7. | Xylem, Inc. | 3.0 |
8. | Cellnex Telecom SA (Spain) | 2.9 |
9. | Alexandria Real Estate Equities, Inc. | 2.9 |
10. | Prologis, Inc. | 2.8 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
United States | 41.0% |
United Kingdom | 12.6 |
Spain | 12.3 |
Germany | 4.1 |
Italy | 4.1 |
Australia | 3.6 |
Canada | 3.4 |
France | 2.9 |
China | 2.7 |
Belgium | 2.4 |
South Korea | 2.0 |
Brazil | 1.5 |
Netherlands | 1.5 |
Austria | 1.1 |
Japan | 1.0 |
Denmark | 1.0 |
Others (each less than 1.0%) | 0.7 |
Short-Term Investments | 2.1 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 13 |
SIX MONTHS ENDED April 30, 2023 (Unaudited) (continued)
INCEPTION DATE | SIX MONTHS* | CUMULATIVE SINCE INCEPTION | |
JPMorgan Sustainable Infrastructure ETF | |||
Net Asset Value | September 7, 2022 | 12.05 % | 0.28 % |
Market Price | 12.09 | 0.55 |
* | Not annualized. |
14 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 97.7% | ||
Canada — 1.7% | ||
West Fraser Timber Co. Ltd. | 5,014 | 362,676 |
China — 0.9% | ||
Contemporary Amperex Technology Co. Ltd., Class A | 3,420 | 114,460 |
NARI Technology Co. Ltd., Class A * | 23,100 | 87,332 |
201,792 | ||
Denmark — 1.0% | ||
Orsted A/S (a) | 1,074 | 96,392 |
Vestas Wind Systems A/S * | 4,530 | 125,348 |
221,740 | ||
Finland — 2.5% | ||
UPM-Kymmene OYJ | 16,602 | 529,445 |
France — 5.3% | ||
Dassault Systemes SE | 17,008 | 690,451 |
Neoen SA (a) | 3,222 | 96,735 |
Nexans SA | 1,058 | 91,033 |
SPIE SA | 8,201 | 255,978 |
1,134,197 | ||
Germany — 11.2% | ||
Encavis AG * | 5,461 | 94,433 |
Infineon Technologies AG | 24,102 | 877,717 |
Mercedes-Benz Group AG | 9,737 | 759,350 |
Siemens AG (Registered) | 4,199 | 692,131 |
2,423,631 | ||
Ireland — 1.5% | ||
Kingspan Group plc | 4,635 | 321,204 |
Italy — 2.3% | ||
Ariston Holding NV | 4,127 | 47,133 |
Prysmian SpA | 10,964 | 448,709 |
495,842 | ||
Japan — 5.7% | ||
Daikin Industries Ltd. | 2,300 | 417,752 |
Keyence Corp. | 1,600 | 721,530 |
Kurita Water Industries Ltd. | 2,300 | 96,390 |
1,235,672 | ||
Netherlands — 1.1% | ||
Alfen N.V. * (a) | 1,415 | 114,487 |
Arcadis NV | 2,947 | 121,737 |
236,224 | ||
Norway — 0.3% | ||
TOMRA Systems ASA | 3,974 | 60,939 |
INVESTMENTS | SHARES | VALUE($) |
South Korea — 5.9% | ||
LG Energy Solution Ltd. * | 1,491 | 649,831 |
Samsung SDI Co. Ltd. | 1,181 | 612,906 |
1,262,737 | ||
Spain — 4.4% | ||
EDP Renovaveis SA * | 5,217 | 115,962 |
Iberdrola SA | 56,455 | 731,549 |
Solaria Energia y Medio Ambiente SA * | 5,693 | 89,817 |
937,328 | ||
Sweden — 2.6% | ||
Boliden AB * | 3,391 | 121,184 |
Nibe Industrier AB, Class B | 39,963 | 447,461 |
568,645 | ||
Switzerland — 6.9% | ||
ABB Ltd. (Registered) | 18,705 | 674,758 |
DSM-Firmenich AG * | 830 | 108,615 |
Sika AG (Registered) | 2,585 | 714,036 |
1,497,409 | ||
United Kingdom — 4.3% | ||
CNH Industrial NV | 36,976 | 521,361 |
Spirax-Sarco Engineering plc | 758 | 105,923 |
SSE plc | 12,652 | 291,922 |
919,206 | ||
United States — 40.1% | ||
AGCO Corp. | 3,429 | 424,990 |
Array Technologies, Inc. * | 2,797 | 57,199 |
Autodesk, Inc. * | 3,190 | 621,380 |
Brookfield Renewable Corp. | 3,929 | 131,268 |
Carrier Global Corp. | 15,781 | 659,961 |
Cognex Corp. | 8,135 | 387,958 |
Deere & Co. | 1,638 | 619,197 |
Eaton Corp. plc | 560 | 93,587 |
Enphase Energy, Inc. * | 488 | 80,130 |
Evoqua Water Technologies Corp. * | 4,440 | 219,558 |
Johnson Controls International plc | 1,948 | 116,568 |
Linde plc | 607 | 224,256 |
NextEra Energy, Inc. | 9,569 | 733,272 |
Rayonier, Inc., REIT | 8,711 | 273,177 |
Schneider Electric SE | 5,268 | 918,697 |
Shoals Technologies Group, Inc., Class A * | 2,187 | 45,686 |
SolarEdge Technologies, Inc. * | 716 | 204,511 |
TE Connectivity Ltd. | 1,589 | 194,446 |
Tetra Tech, Inc. | 2,254 | 311,886 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 15 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
United States — continued | ||
Trane Technologies plc | 4,752 | 882,969 |
Trex Co., Inc. * | 2,030 | 110,960 |
Trimble, Inc. * | 1,638 | 77,150 |
Weyerhaeuser Co., REIT | 16,883 | 504,971 |
Xylem, Inc. | 7,318 | 759,901 |
8,653,678 | ||
Total Common Stocks (Cost $22,305,287) | 21,062,365 | |
Short-Term Investments — 0.3% | ||
Investment Companies — 0.3% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 4.95% (b) (c)(Cost $70,422) | 70,388 | 70,409 |
Total Investments — 98.0% (Cost $22,375,709) | 21,132,774 | |
Other Assets Less Liabilities — 2.0% | 432,336 | |
NET ASSETS — 100.0% | 21,565,110 |
Percentages indicated are based on net assets. |
Abbreviations | |
OYJ | Public Limited Company |
REIT | Real Estate Investment Trust |
* | Non-income producing security. |
(a) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of April 30, 2023. |
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Electrical Equipment | 16.2 % |
Building Products | 14.0 |
Machinery | 13.3 |
Electronic Equipment, Instruments & Components | 9.4 |
Electric Utilities | 8.8 |
Software | 6.2 |
Semiconductors & Semiconductor Equipment | 5.5 |
Chemicals | 4.4 |
Paper & Forest Products | 4.2 |
Specialized REITs | 3.7 |
Automobiles | 3.6 |
Industrial Conglomerates | 3.3 |
Commercial Services & Supplies | 2.7 |
Independent Power and Renewable Electricity Producers | 2.5 |
Others (each less than 1.0%) | 1.9 |
Short-Term Investments | 0.3 |
16 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 97.6% | ||
Australia — 3.5% | ||
IDP Education Ltd. | 16,045 | 301,434 |
Stockland, REIT | 39,708 | 117,709 |
419,143 | ||
Belgium — 1.0% | ||
KBC Group NV | 1,763 | 126,034 |
Brazil — 1.2% | ||
Raia Drogasil SA | 28,008 | 147,570 |
China — 1.6% | ||
NXP Semiconductors NV | 1,152 | 188,628 |
Denmark — 2.7% | ||
Novo Nordisk A/S, Class B | 1,991 | 331,212 |
France — 3.4% | ||
Vinci SA | 3,321 | 410,778 |
Germany — 1.4% | ||
adidas AG | 946 | 166,596 |
Hong Kong — 1.3% | ||
AIA Group Ltd. | 14,800 | 161,129 |
India — 2.6% | ||
HDFC Bank Ltd., ADR * | 4,518 | 315,356 |
Indonesia — 1.1% | ||
Bank Rakyat Indonesia Persero Tbk. PT | 376,200 | 131,098 |
Ireland — 2.2% | ||
Kerry Group plc, Class A | 1,250 | 131,656 |
Kingspan Group plc | 2,041 | 141,441 |
273,097 | ||
Japan — 5.5% | ||
Katitas Co. Ltd. | 5,400 | 105,456 |
LITALICO, Inc. | 3,100 | 55,552 |
Recruit Holdings Co. Ltd. | 3,800 | 106,604 |
T&D Holdings, Inc. | 9,900 | 121,239 |
Tokio Marine Holdings, Inc. | 5,400 | 108,578 |
Tokyo Electron Ltd. | 1,500 | 171,758 |
669,187 | ||
Mexico — 2.1% | ||
Wal-Mart de Mexico SAB de CV | 63,621 | 256,437 |
Netherlands — 6.8% | ||
ASML Holding NV | 568 | 360,460 |
Koninklijke Ahold Delhaize NV | 8,075 | 277,656 |
NN Group NV | 4,854 | 181,008 |
819,124 |
INVESTMENTS | SHARES | VALUE($) |
Nigeria — 1.0% | ||
Airtel Africa plc (a) | 84,262 | 127,196 |
Peru — 1.0% | ||
Credicorp Ltd. | 909 | 123,151 |
Portugal — 1.6% | ||
Jeronimo Martins SGPS SA | 7,874 | 198,702 |
Puerto Rico — 0.5% | ||
EVERTEC, Inc. | 1,737 | 60,257 |
South Africa — 0.9% | ||
Vodacom Group Ltd. | 15,838 | 108,559 |
Switzerland — 1.8% | ||
DSM-Firmenich AG * | 1,067 | 139,629 |
Sika AG (Registered) | 274 | 75,685 |
215,314 | ||
United Kingdom — 7.5% | ||
AstraZeneca plc | 1,203 | 177,037 |
Reckitt Benckiser Group plc | 1,557 | 125,821 |
RELX plc | 13,046 | 434,676 |
Taylor Wimpey plc | 102,781 | 165,875 |
903,409 | ||
United States — 46.9% | ||
AbbVie, Inc. | 1,530 | 231,214 |
Alphabet, Inc., Class A * | 2,907 | 312,037 |
Analog Devices, Inc. | 909 | 163,511 |
Boston Scientific Corp. * | 5,329 | 277,748 |
CSX Corp. | 2,844 | 87,140 |
Deere & Co. | 640 | 241,933 |
Dollar General Corp. | 537 | 118,924 |
DR Horton, Inc. | 1,845 | 202,618 |
Fiserv, Inc. * | 1,134 | 138,484 |
HCA Healthcare, Inc. | 218 | 62,638 |
Intuitive Surgical, Inc. * | 811 | 244,289 |
Lam Research Corp. | 304 | 159,320 |
Mastercard, Inc., Class A | 747 | 283,882 |
Microsoft Corp. | 2,557 | 785,664 |
NIKE, Inc., Class B | 1,580 | 200,218 |
Pathward Financial, Inc. | 1,854 | 82,559 |
Roche Holding AG | 502 | 157,196 |
Skyline Champion Corp. * | 2,709 | 200,927 |
SLM Corp. | 5,463 | 82,054 |
Sun Communities, Inc., REIT | 1,233 | 171,301 |
Thermo Fisher Scientific, Inc. | 278 | 154,262 |
Union Pacific Corp. | 720 | 140,904 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 17 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
United States — continued | ||
UnitedHealth Group, Inc. | 798 | 392,688 |
Vertex Pharmaceuticals, Inc. * | 681 | 232,037 |
Visa, Inc., Class A | 1,075 | 250,185 |
Waste Connections, Inc. | 2,215 | 308,217 |
5,681,950 | ||
Total Common Stocks (Cost $10,411,087) | 11,833,927 | |
Short-Term Investments — 1.6% | ||
Investment Companies — 1.6% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 4.95% (b) (c)(Cost $189,162) | 189,140 | 189,197 |
Total Investments — 99.2% (Cost $10,600,249) | 12,023,124 | |
Other Assets Less Liabilities — 0.8% | 96,795 | |
NET ASSETS — 100.0% | 12,119,919 |
Percentages indicated are based on net assets. |
Abbreviations | |
ADR | American Depositary Receipt |
PT | Limited liability company |
REIT | Real Estate Investment Trust |
SGPS | Holding company |
* | Non-income producing security. |
(a) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of April 30, 2023. |
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Semiconductors & Semiconductor Equipment | 8.7 % |
Consumer Staples Distribution & Retail | 8.3 |
Pharmaceuticals | 6.7 |
Software | 6.5 |
Banks | 6.5 |
Financial Services | 6.1 |
Insurance | 4.8 |
Household Durables | 4.7 |
Professional Services | 4.5 |
Health Care Equipment & Supplies | 4.3 |
Biotechnology | 3.8 |
Health Care Providers & Services | 3.8 |
Construction & Engineering | 3.4 |
Textiles, Apparel & Luxury Goods | 3.0 |
Diversified Consumer Services | 3.0 |
Interactive Media & Services | 2.6 |
Commercial Services & Supplies | 2.6 |
Machinery | 2.0 |
Wireless Telecommunication Services | 2.0 |
Ground Transportation | 1.9 |
Residential REITs | 1.4 |
Life Sciences Tools & Services | 1.3 |
Building Products | 1.2 |
Food Products | 1.1 |
Household Products | 1.0 |
Diversified REITs | 1.0 |
Others (each less than 1.0%) | 2.2 |
Short-Term Investments | 1.6 |
18 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 98.2% | ||
Australia — 2.6% | ||
Brambles Ltd. | 31,044 | 294,074 |
Canada — 2.0% | ||
Ritchie Bros Auctioneers, Inc. | 1,216 | 69,575 |
West Fraser Timber Co. Ltd. | 2,217 | 160,362 |
229,937 | ||
China — 2.5% | ||
Chacha Food Co. Ltd., Class A * | 8,400 | 52,591 |
NXP Semiconductors NV | 1,416 | 231,856 |
284,447 | ||
Denmark — 1.7% | ||
Novo Nordisk A/S, Class B | 1,195 | 198,794 |
Finland — 1.9% | ||
Neste OYJ | 2,265 | 109,772 |
UPM-Kymmene OYJ | 3,538 | 112,828 |
222,600 | ||
France — 2.6% | ||
Dassault Systemes SE | 3,466 | 140,704 |
Legrand SA | 1,613 | 152,677 |
293,381 | ||
Germany — 5.6% | ||
GEA Group AG | 2,971 | 139,735 |
Infineon Technologies AG | 6,058 | 220,613 |
Siemens AG (Registered) | 926 | 152,635 |
Symrise AG | 1,130 | 136,529 |
649,512 | ||
Ireland — 2.9% | ||
Kerry Group plc, Class A | 1,865 | 196,431 |
Kingspan Group plc | 1,966 | 136,243 |
332,674 | ||
Japan — 6.6% | ||
FANUC Corp. | 5,500 | 185,742 |
Hitachi Ltd. | 2,100 | 116,161 |
Keyence Corp. | 500 | 225,478 |
Kurita Water Industries Ltd. | 2,300 | 96,390 |
Topcon Corp. | 9,900 | 141,017 |
764,788 | ||
Netherlands — 2.4% | ||
ASML Holding NV | 430 | 272,883 |
INVESTMENTS | SHARES | VALUE($) |
Norway — 1.5% | ||
Norsk Hydro ASA | 15,451 | 113,705 |
TOMRA Systems ASA | 4,095 | 62,794 |
176,499 | ||
Sweden — 1.1% | ||
Boliden AB * | 3,490 | 124,722 |
Switzerland — 5.0% | ||
DSM-Firmenich AG * | 1,154 | 151,014 |
SIG Group AG | 11,064 | 296,135 |
Sika AG (Registered) | 465 | 128,444 |
575,593 | ||
Taiwan — 2.2% | ||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 3,033 | 255,682 |
United Kingdom — 3.8% | ||
CNH Industrial NV | 11,511 | 162,305 |
Tate & Lyle plc | 26,799 | 274,793 |
437,098 | ||
United States — 53.8% | ||
AGCO Corp. | 1,033 | 128,030 |
Airbnb, Inc., Class A * | 651 | 77,905 |
Autodesk, Inc. * | 1,204 | 234,527 |
Cadence Design Systems, Inc. * | 706 | 147,872 |
Carrier Global Corp. | 4,872 | 203,747 |
Danaher Corp. | 1,080 | 255,863 |
Darling Ingredients, Inc. * | 2,651 | 157,920 |
Deere & Co. | 743 | 280,869 |
Dover Corp. | 1,393 | 203,601 |
Ecolab, Inc. | 1,538 | 258,138 |
Elevance Health, Inc. | 373 | 174,806 |
Energy Recovery, Inc. * | 3,977 | 89,602 |
Evoqua Water Technologies Corp. * | 1,558 | 77,043 |
General Mills, Inc. | 1,144 | 101,393 |
Hologic, Inc. * | 1,029 | 88,504 |
International Flavors & Fragrances, Inc. | 1,284 | 124,497 |
Intuitive Surgical, Inc. * | 435 | 131,031 |
LKQ Corp. | 2,459 | 141,958 |
Nestle SA (Registered) | 1,531 | 196,411 |
NIKE, Inc., Class B | 2,152 | 272,701 |
Rayonier, Inc., REIT | 4,117 | 129,109 |
Roche Holding AG | 687 | 215,127 |
Rockwell Automation, Inc. | 574 | 162,677 |
Schneider Electric SE | 1,063 | 185,379 |
Sprouts Farmers Market, Inc. * | 2,002 | 69,389 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 19 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
United States — continued | ||
Tetra Tech, Inc. | 1,882 | 260,412 |
Trane Technologies plc | 1,913 | 355,455 |
Trex Co., Inc. * | 2,415 | 132,004 |
Trimble, Inc. * | 4,576 | 215,530 |
UnitedHealth Group, Inc. | 530 | 260,808 |
Valmont Industries, Inc. | 553 | 160,680 |
Weyerhaeuser Co., REIT | 8,071 | 241,404 |
Xylem, Inc. | 2,910 | 302,174 |
Zoetis, Inc. | 891 | 156,620 |
6,193,186 | ||
Total Common Stocks (Cost $10,631,916) | 11,305,870 | |
Short-Term Investments — 0.9% | ||
Investment Companies — 0.9% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 4.95% (a) (b)(Cost $97,937) | 97,908 | 97,938 |
Total Investments — 99.1% (Cost $10,729,853) | 11,403,808 | |
Other Assets Less Liabilities — 0.9% | 108,519 | |
NET ASSETS — 100.0% | 11,512,327 |
Percentages indicated are based on net assets. |
Abbreviations | |
ADR | American Depositary Receipt |
OYJ | Public Limited Company |
REIT | Real Estate Investment Trust |
* | Non-income producing security. |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Machinery | 15.1 % |
Semiconductors & Semiconductor Equipment | 8.6 |
Food Products | 8.6 |
Building Products | 7.3 |
Pharmaceuticals | 6.3 |
Chemicals | 5.7 |
Commercial Services & Supplies | 5.5 |
Electronic Equipment, Instruments & Components | 5.1 |
Software | 4.6 |
Electrical Equipment | 4.4 |
Health Care Providers & Services | 3.8 |
Specialized REITs | 3.2 |
Containers & Packaging | 2.6 |
Paper & Forest Products | 2.4 |
Textiles, Apparel & Luxury Goods | 2.4 |
Industrial Conglomerates | 2.4 |
Life Sciences Tools & Services | 2.2 |
Metals & Mining | 2.1 |
Health Care Equipment & Supplies | 1.9 |
Construction & Engineering | 1.4 |
Distributors | 1.2 |
Oil, Gas & Consumable Fuels | 1.0 |
Others (each less than 1.0%) | 1.3 |
Short-Term Investments | 0.9 |
20 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 97.6% | ||
Australia — 3.6% | ||
Goodman Group, REIT | 16,348 | 210,752 |
NEXTDC Ltd. * | 15,926 | 122,209 |
Ramsay Health Care Ltd. | 1,199 | 51,559 |
384,520 | ||
Austria — 1.1% | ||
Verbund AG | 1,298 | 115,601 |
Belgium — 2.4% | ||
Cofinimmo SA, REIT | 1,155 | 110,343 |
Elia Group SA/NV | 587 | 80,489 |
Warehouses De Pauw CVA, REIT | 2,346 | 70,149 |
260,981 | ||
Brazil — 1.5% | ||
Transmissora Alianca de Energia Eletrica SA | 22,692 | 165,647 |
Canada — 3.4% | ||
Canadian National Railway Co. | 3,023 | 360,553 |
China — 2.7% | ||
China Longyuan Power Group Corp. Ltd., Class H | 66,000 | 69,265 |
Contemporary Amperex Technology Co. Ltd., Class A | 1,620 | 54,218 |
NARI Technology Co. Ltd., Class A * | 44,500 | 168,237 |
291,720 | ||
Denmark — 1.0% | ||
Orsted A/S (a) | 1,181 | 105,995 |
France — 2.9% | ||
Engie SA | 12,582 | 201,366 |
Getlink SE | 3,409 | 63,712 |
Neoen SA (a) | 1,442 | 43,293 |
308,371 | ||
Germany — 4.1% | ||
E.ON SE | 12,163 | 160,889 |
Encavis AG * | 2,849 | 49,266 |
Vonovia SE | 10,796 | 234,149 |
444,304 | ||
Italy — 4.0% | ||
Enel SpA | 15,723 | 107,421 |
Infrastrutture Wireless Italiane SpA (a) | 4,955 | 68,773 |
Terna - Rete Elettrica Nazionale | 29,838 | 258,270 |
434,464 | ||
Japan — 1.0% | ||
Kurita Water Industries Ltd. | 2,600 | 108,963 |
INVESTMENTS | SHARES | VALUE($) |
Netherlands — 1.5% | ||
Alfen N.V. * (a) | 2,007 | 162,385 |
Singapore — 0.7% | ||
Parkway Life, REIT | 26,500 | 77,180 |
South Korea — 2.0% | ||
Samsung SDI Co. Ltd. | 415 | 215,374 |
Spain — 12.2% | ||
Cellnex Telecom SA (a) | 7,372 | 310,391 |
Corp. ACCIONA Energias Renovables SA * | 4,931 | 177,058 |
EDP Renovaveis SA * | 4,792 | 106,515 |
Endesa SA | 8,565 | 192,136 |
Iberdrola SA | 33,538 | 434,589 |
Solaria Energia y Medio Ambiente SA * | 5,942 | 93,745 |
1,314,434 | ||
United Kingdom — 12.6% | ||
Assura plc, REIT | 313,292 | 200,408 |
Grainger plc | 54,131 | 175,923 |
LondonMetric Property plc, REIT | 52,238 | 126,690 |
National Grid plc | 5,844 | 83,791 |
SSE plc | 16,967 | 391,483 |
UNITE Group plc (The), REIT | 18,238 | 220,065 |
United Utilities Group plc | 11,318 | 153,749 |
1,352,109 | ||
United States — 40.9% | ||
Alexandria Real Estate Equities, Inc., REIT | 2,475 | 307,345 |
American Tower Corp., REIT | 731 | 149,409 |
CMS Energy Corp. | 3,331 | 207,388 |
Enphase Energy, Inc. * | 407 | 66,829 |
Equinix, Inc., REIT | 312 | 225,913 |
Essential Utilities, Inc. | 2,494 | 106,494 |
Hannon Armstrong Sustainable Infrastructure Capital, Inc., REIT | 2,186 | 62,039 |
HCA Healthcare, Inc. | 1,323 | 380,138 |
Itron, Inc. * | 1,193 | 63,706 |
Medical Properties Trust, Inc., REIT | 12,233 | 107,283 |
NextEra Energy, Inc. | 5,024 | 384,989 |
Norfolk Southern Corp. | 508 | 103,139 |
Physicians Realty Trust, REIT | 3,554 | 51,249 |
Prologis, Inc., REIT | 2,415 | 302,479 |
SBA Communications Corp., REIT | 691 | 180,275 |
Sempra Energy | 1,083 | 168,396 |
Skyline Champion Corp. * | 1,031 | 76,469 |
SolarEdge Technologies, Inc. * | 738 | 210,795 |
Union Pacific Corp. | 1,857 | 363,415 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 21 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
United States — continued | ||
Ventas, Inc., REIT | 3,249 | 156,114 |
Welltower, Inc., REIT | 3,095 | 245,186 |
Weyerhaeuser Co., REIT | 4,925 | 147,307 |
Xylem, Inc. | 3,121 | 324,085 |
4,390,442 | ||
Total Common Stocks (Cost $10,441,323) | 10,493,043 | |
Short-Term Investments — 2.2% | ||
Investment Companies — 2.2% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 4.95% (b) (c)(Cost $229,764) | 229,690 | 229,759 |
Total Investments — 99.8% (Cost $10,671,087) | 10,722,802 | |
Other Assets Less Liabilities — 0.2% | 25,606 | |
NET ASSETS — 100.0% | 10,748,408 |
Percentages indicated are based on net assets. |
Abbreviations | |
CVA | Dutch Certification |
REIT | Real Estate Investment Trust |
* | Non-income producing security. |
(a) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of April 30, 2023. |
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Electric Utilities | 20.9 % |
Health Care REITs | 8.8 |
Ground Transportation | 7.7 |
Multi-Utilities | 7.7 |
Industrial REITs | 6.6 |
Specialized REITs | 6.6 |
Independent Power and Renewable Electricity Producers | 5.0 |
Machinery | 4.0 |
Health Care Providers & Services | 4.0 |
Real Estate Management & Development | 3.8 |
Electrical Equipment | 3.6 |
Diversified Telecommunication Services | 3.5 |
Office REITs | 2.9 |
Electronic Equipment, Instruments & Components | 2.6 |
Semiconductors & Semiconductor Equipment | 2.6 |
Water Utilities | 2.4 |
Residential REITs | 2.1 |
IT Services | 1.2 |
Others (each less than 1.0%) | 1.9 |
Short-Term Investments | 2.1 |
22 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
AS OF April 30, 2023 (Unaudited)
JPMorgan Climate Change Solutions ETF | JPMorgan Social Advancement ETF | JPMorgan Sustainable Consumption ETF | JPMorgan Sustainable Infrastructure ETF | |
ASSETS: | ||||
Investments in non-affiliates, at value | $21,062,365 | $11,833,927 | $11,305,870 | $10,493,043 |
Investments in affiliates, at value | 70,409 | 189,197 | 97,938 | 229,759 |
Cash | 394,030 | 71,833 | 87,408 | 52,994 |
Foreign currency, at value | — | — | — | 694 |
Receivables: | ||||
Investment securities sold | — | — | — | 333,806 |
Dividends from non-affiliates | 25,929 | 28,400 | 21,289 | 7,849 |
Dividends from affiliates | 9 | 26 | 13 | 31 |
Tax reclaims | 23,209 | 3,397 | 5,021 | 662 |
Total Assets | 21,575,951 | 12,126,780 | 11,517,539 | 11,118,838 |
LIABILITIES: | ||||
Payables: | ||||
Foreign currency due to custodian, at value | 2,121 | 2,105 | 584 | — |
Investment securities purchased | — | — | — | 366,145 |
Accrued liabilities: | ||||
Management fees (See Note 3.A.) | 8,720 | 4,756 | 4,628 | 4,285 |
Total Liabilities | 10,841 | 6,861 | 5,212 | 370,430 |
Net Assets | $21,565,110 | $12,119,919 | $11,512,327 | $10,748,408 |
NET ASSETS: | ||||
Paid-in-Capital | $26,388,065 | $10,723,102 | $10,721,311 | $10,624,193 |
Total distributable earnings (loss) | (4,822,955 ) | 1,396,817 | 791,016 | 124,215 |
Total Net Assets | $21,565,110 | $12,119,919 | $11,512,327 | $10,748,408 |
Outstanding number of shares (unlimited number of shares authorized - par value $0.0001) | 550,000 | 225,000 | 225,000 | 225,000 |
Net asset value, per share | $39.21 | $53.87 | $51.17 | $47.77 |
Cost of investments in non-affiliates | $22,305,287 | $10,411,087 | $10,631,916 | $10,441,323 |
Cost of investments in affiliates | 70,422 | 189,162 | 97,937 | 229,764 |
Cost of foreign currency | — | — | — | 696 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 23 |
FOR THE SIX MONTHS ENDED April 30, 2023 (Unaudited)
JPMorgan Climate Change Solutions ETF | JPMorgan Social Advancement ETF | JPMorgan Sustainable Consumption ETF | JPMorgan Sustainable Infrastructure ETF | |
INVESTMENT INCOME: | ||||
Interest income from non-affiliates | $1 | $5 | $30 | $37 |
Interest income from affiliates | 1,301 | 337 | 332 | 333 |
Dividend income from non-affiliates | 146,053 | 115,465 | 95,521 | 100,826 |
Dividend income from affiliates | 1,933 | 7,117 | 2,915 | 4,109 |
Non-cash dividend income from non-affiliates | 10,997 | — | — | 6,914 |
Income from securities lending (net) (See Note 2.C.) | 288 | — | — | — |
Foreign taxes withheld (net) | (12,855 ) | (10,157 ) | (5,722 ) | (8,144 ) |
Total investment income | 147,718 | 112,767 | 93,076 | 104,075 |
EXPENSES: | ||||
Management fees (See Note 3.A.) | 52,091 | 27,635 | 27,504 | 25,506 |
Total expenses | 52,091 | 27,635 | 27,504 | 25,506 |
Net investment income (loss) | 95,627 | 85,132 | 65,572 | 78,569 |
REALIZED/UNREALIZED GAINS (LOSSES): | ||||
Net realized gain (loss) on transactions from: | ||||
Investments in non-affiliates | (519,366 ) | (24,254 ) | 67,806 | 30,991 |
Investments in affiliates | 35 | (90 ) | (9 ) | (3 ) |
Foreign currency transactions | (3,452 ) | 1,922 | 1,788 | 1,155 |
Net realized gain (loss) | (522,783 ) | (22,422 ) | 69,585 | 32,143 |
Change in net unrealized appreciation/depreciation on: | ||||
Investments in non-affiliates | 2,651,243 | 1,464,272 | 845,426 | 1,048,805 |
Investments in affiliates | (13 ) | 107 | 89 | 28 |
Foreign currency translations | 1,588 | 178 | 79 | (7 ) |
Change in net unrealized appreciation/depreciation | 2,652,818 | 1,464,557 | 845,594 | 1,048,826 |
Net realized/unrealized gains (losses) | 2,130,035 | 1,442,135 | 915,179 | 1,080,969 |
Change in net assets resulting from operations | $2,225,662 | $1,527,267 | $980,751 | $1,159,538 |
24 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
FOR THE PERIODS INDICATED
JPMorgan Climate Change Solutions ETF | JPMorgan Social Advancement ETF | |||
Six Months Ended April 30, 2023 (Unaudited) | Period Ended October 31, 2022 (a) | Six Months Ended April 30, 2023 (Unaudited) | Period Ended October 31, 2022 (b) | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $95,627 | $236,078 | $85,132 | $14,136 |
Net realized gain (loss) | (522,783 ) | (3,152,866 ) | (22,422 ) | (42,592 ) |
Change in net unrealized appreciation/depreciation | 2,652,818 | (3,895,303 ) | 1,464,557 | (41,602 ) |
Change in net assets resulting from operations | 2,225,662 | (6,812,091 ) | 1,527,267 | (70,058 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Total distributions to shareholders | (221,238 ) | (15,288 ) | (60,392 ) | — |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | — | 26,388,065 | — | 10,723,102 |
NET ASSETS: | ||||
Change in net assets | 2,004,424 | 19,560,686 | 1,466,875 | 10,653,044 |
Beginning of period | 19,560,686 | — | 10,653,044 | — |
End of period | $21,565,110 | $19,560,686 | $12,119,919 | $10,653,044 |
CAPITAL TRANSACTIONS: | ||||
Proceeds from shares issued | $— | $26,388,065 | $— | $10,723,102 |
Total change in net assets resulting from capital transactions | $— | $26,388,065 | $— | $10,723,102 |
SHARE TRANSACTIONS: | ||||
Issued | — | 550,000 | — | 225,000 |
Net increase (decrease) in shares from share transactions | — | 550,000 | — | 225,000 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 25 |
FOR THE PERIODS INDICATED (continued)
JPMorgan Sustainable Consumption ETF | JPMorgan Sustainable Infrastructure ETF | |||
Six Months Ended April 30, 2023 (Unaudited) | Period Ended October 31, 2022 (a) | Six Months Ended April 30, 2023 (Unaudited) | Period Ended October 31, 2022 (a) | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $65,572 | $9,414 | $78,569 | $8,521 |
Net realized gain (loss) | 69,585 | 16,687 | 32,143 | 29,434 |
Change in net unrealized appreciation/depreciation | 845,594 | (171,673 ) | 1,048,826 | (997,062 ) |
Change in net assets resulting from operations | 980,751 | (145,572 ) | 1,159,538 | (959,107 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Total distributions to shareholders | (44,163 ) | — | (76,216 ) | — |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | — | 10,721,311 | — | 10,624,193 |
NET ASSETS: | ||||
Change in net assets | 936,588 | 10,575,739 | 1,083,322 | 9,665,086 |
Beginning of period | 10,575,739 | — | 9,665,086 | — |
End of period | $11,512,327 | $10,575,739 | $10,748,408 | $9,665,086 |
CAPITAL TRANSACTIONS: | ||||
Proceeds from shares issued | $— | $10,721,311 | $— | $10,624,193 |
Total change in net assets resulting from capital transactions | $— | $10,721,311 | $— | $10,624,193 |
SHARE TRANSACTIONS: | ||||
Issued | — | 225,000 | — | 225,000 |
Net increase (decrease) in shares from share transactions | — | 225,000 | — | 225,000 |
26 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||
Investment operations | Distributions | ||||
Net asset value, beginning of period | Net investment income (loss) (b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | |
JPMorgan Climate Change Solutions ETF | |||||
Six Months Ended April 30, 2023 (Unaudited) | $35.56 | $0.17 | $3.88 | $4.05 | $(0.40 ) |
December 13, 2021 (f) through October 31, 2022 | 48.00 | 0.43 | (12.84 ) | (12.41 ) | (0.03 ) |
JPMorgan Social Advancement ETF | |||||
Six Months Ended April 30, 2023 (Unaudited) | 47.35 | 0.38 | 6.41 | 6.79 | (0.27 ) |
September 7, 2022 (f) through October 31, 2022 | 48.00 | 0.07 | (0.72 ) | (0.65 ) | — |
JPMorgan Sustainable Consumption ETF | |||||
Six Months Ended April 30, 2023 (Unaudited) | 47.00 | 0.29 | 4.08 | 4.37 | (0.20 ) |
September 7, 2022 (f) through October 31, 2022 | 48.00 | 0.04 | (1.04 ) | (1.00 ) | — |
JPMorgan Sustainable Infrastructure ETF | |||||
Six Months Ended April 30, 2023 (Unaudited) | 42.96 | 0.35 | 4.80 | 5.15 | (0.34 ) |
September 7, 2022 (f) through October 31, 2022 | 48.00 | 0.04 | (5.08 ) | (5.04 ) | — |
(a) | Annualized for periods less than one year, unless otherwise noted. |
(b) | Calculated based upon average shares outstanding. |
(c) | Not annualized for periods less than one year. |
(d) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(e) | Market price return was calculated assuming an initial investment made at the market price at the beginning of the reporting period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. The closing price was used to calculate the market price return. |
(f) | Commencement of operations. |
(g) | Since the Shares of the Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of secondary market trading, the net asset value is used as a proxy for the secondary market trading price to calculate the market returns. |
28 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
Ratios/Supplemental data | |||||||
Ratios to average net assets (a) | |||||||
Net asset value, end of period | Market price, end of period | Total return (c)(d) | Market price total return (c)(e) | Net assets, end of period | Net expenses | Net investment income (loss) | Portfolio turnover rate (c) |
$39.21 | $39.33 | 11.44 % | 11.31 % | $21,565,110 | 0.49 % | 0.90 % | 15 % |
35.56 | 35.71 | (25.87 ) | (25.56 )(g) | 19,560,686 | 0.49 | 1.26 | 32 |
53.87 | 53.96 | 14.39 | 14.36 | 12,119,919 | 0.49 | 1.50 | 12 |
47.35 | 47.44 | (1.35 ) | (1.17 )(g) | 10,653,044 | 0.49 | 1.00 | 6 |
51.17 | 51.20 | 9.31 | 9.03 | 11,512,327 | 0.49 | 1.16 | 23 |
47.00 | 47.15 | (2.08 ) | (1.77 )(g) | 10,575,739 | 0.49 | 0.66 | 1 |
47.77 | 47.91 | 12.02 | 12.09 | 10,748,408 | 0.49 | 1.50 | 30 |
42.96 | 43.06 | (10.50 ) | (10.29 )(g) | 9,665,086 | 0.49 | 0.64 | — |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 29 |
AS OF April 30, 2023 (Unaudited)
Diversification Classification | |
JPMorgan Climate Change Solutions ETF | Non-Diversified |
JPMorgan Social Advancement ETF | Non-Diversified |
JPMorgan Sustainable Consumption ETF | Non-Diversified |
JPMorgan Sustainable Infrastructure ETF | Non-Diversified |
Listing Exchange | |
Climate Change Solutions ETF | NYSE Arca |
Social Advancement ETF | Nasdaq Stock Market® LLC |
Sustainable Consumption ETF | Nasdaq Stock Market® LLC |
Sustainable Infrastructure ETF | Nasdaq Stock Market® LLC |
30 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
Climate Change Solutions ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | ||||
Canada | $362,676 | $— | $— | $362,676 |
China | — | 201,792 | — | 201,792 |
Denmark | — | 221,740 | — | 221,740 |
Finland | — | 529,445 | — | 529,445 |
France | — | 1,134,197 | — | 1,134,197 |
Germany | — | 2,423,631 | — | 2,423,631 |
Ireland | — | 321,204 | — | 321,204 |
Italy | — | 495,842 | — | 495,842 |
Japan | — | 1,235,672 | — | 1,235,672 |
Netherlands | — | 236,224 | — | 236,224 |
Norway | — | 60,939 | — | 60,939 |
South Korea | — | 1,262,737 | — | 1,262,737 |
Spain | — | 937,328 | — | 937,328 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 31 |
AS OF April 30, 2023 (Unaudited) (continued)
Climate Change Solutions ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Sweden | $— | $568,645 | $— | $568,645 |
Switzerland | 108,615 | 1,388,794 | — | 1,497,409 |
United Kingdom | 521,361 | 397,845 | — | 919,206 |
United States | 7,734,981 | 918,697 | — | 8,653,678 |
Total Common Stocks | 8,727,633 | 12,334,732 | — | 21,062,365 |
Short-Term Investments | ||||
Investment Companies | 70,409 | — | — | 70,409 |
Total Investments in Securities | $8,798,042 | $12,334,732 | $— | $21,132,774 |
Social Advancement ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | ||||
Australia | $— | $419,143 | $— | $419,143 |
Belgium | — | 126,034 | — | 126,034 |
Brazil | 147,570 | — | — | 147,570 |
China | 188,628 | — | — | 188,628 |
Denmark | — | 331,212 | — | 331,212 |
France | — | 410,778 | — | 410,778 |
Germany | — | 166,596 | — | 166,596 |
Hong Kong | — | 161,129 | — | 161,129 |
India | 315,356 | — | — | 315,356 |
Indonesia | — | 131,098 | — | 131,098 |
Ireland | — | 273,097 | — | 273,097 |
Japan | — | 669,187 | — | 669,187 |
Mexico | 256,437 | — | — | 256,437 |
Netherlands | — | 819,124 | — | 819,124 |
Nigeria | — | 127,196 | — | 127,196 |
Peru | 123,151 | — | — | 123,151 |
Portugal | — | 198,702 | — | 198,702 |
Puerto Rico | 60,257 | — | — | 60,257 |
South Africa | — | 108,559 | — | 108,559 |
Switzerland | 139,629 | 75,685 | — | 215,314 |
United Kingdom | — | 903,409 | — | 903,409 |
United States | 5,524,754 | 157,196 | — | 5,681,950 |
Total Common Stocks | 6,755,782 | 5,078,145 | — | 11,833,927 |
Short-Term Investments | ||||
Investment Companies | 189,197 | — | — | 189,197 |
Total Investments in Securities | $6,944,979 | $5,078,145 | $— | $12,023,124 |
32 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
Sustainable Consumption ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | ||||
Australia | $— | $294,074 | $— | $294,074 |
Canada | 229,937 | — | — | 229,937 |
China | 231,856 | 52,591 | — | 284,447 |
Denmark | — | 198,794 | — | 198,794 |
Finland | — | 222,600 | — | 222,600 |
France | — | 293,381 | — | 293,381 |
Germany | — | 649,512 | — | 649,512 |
Ireland | — | 332,674 | — | 332,674 |
Japan | — | 764,788 | — | 764,788 |
Netherlands | — | 272,883 | — | 272,883 |
Norway | — | 176,499 | — | 176,499 |
Sweden | — | 124,722 | — | 124,722 |
Switzerland | 151,014 | 424,579 | — | 575,593 |
Taiwan | 255,682 | — | — | 255,682 |
United Kingdom | 162,305 | 274,793 | — | 437,098 |
United States | 5,596,269 | 596,917 | — | 6,193,186 |
Total Common Stocks | 6,627,063 | 4,678,807 | — | 11,305,870 |
Short-Term Investments | ||||
Investment Companies | 97,938 | — | — | 97,938 |
Total Investments in Securities | $6,725,001 | $4,678,807 | $— | $11,403,808 |
Sustainable Infrastructure ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | ||||
Australia | $— | $384,520 | $— | $384,520 |
Austria | — | 115,601 | — | 115,601 |
Belgium | — | 260,981 | — | 260,981 |
Brazil | 165,647 | — | — | 165,647 |
Canada | 360,553 | — | — | 360,553 |
China | — | 291,720 | — | 291,720 |
Denmark | — | 105,995 | — | 105,995 |
France | — | 308,371 | — | 308,371 |
Germany | — | 444,304 | — | 444,304 |
Italy | — | 434,464 | — | 434,464 |
Japan | — | 108,963 | — | 108,963 |
Netherlands | — | 162,385 | — | 162,385 |
Singapore | — | 77,180 | — | 77,180 |
South Korea | — | 215,374 | — | 215,374 |
Spain | — | 1,314,434 | — | 1,314,434 |
United Kingdom | 376,331 | 975,778 | — | 1,352,109 |
United States | 4,390,442 | — | — | 4,390,442 |
Total Common Stocks | 5,292,973 | 5,200,070 | — | 10,493,043 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 33 |
AS OF April 30, 2023 (Unaudited) (continued)
Sustainable Infrastructure ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Short-Term Investments | ||||
Investment Companies | $229,759 | $— | $— | $229,759 |
Total Investments in Securities | $5,522,732 | $5,200,070 | $— | $10,722,802 |
Climate Change Solutions ETF | $6 |
34 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
Climate Change Solutions ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 4.95% (a) (b) | $— | $418,329 | $347,942 | $35 | $(13 ) | $70,409 | 70,388 | $1,933 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
Social Advancement ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 4.95% (a) (b) | $421,937 | $459,180 | $691,937 | $(90 ) | $107 | $189,197 | 189,140 | $7,117 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
Sustainable Consumption ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 4.95% (a) (b) | $295,959 | $498,302 | $696,403 | $(9 ) | $89 | $97,938 | 97,908 | $2,915 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
Sustainable Infrastructure ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 4.95% (a) (b) | $109,193 | $806,867 | $686,326 | $(3 ) | $28 | $229,759 | 229,690 | $4,109 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 35 |
AS OF April 30, 2023 (Unaudited) (continued)
Climate Change Solutions ETF | 0.49 % |
Social Advancement ETF | 0.49 |
Sustainable Consumption ETF | 0.49 |
Sustainable Infrastructure ETF | 0.49 |
36 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
Purchases (excluding U.S. Government) | Sales (excluding U.S. Government) | |
Climate Change Solutions ETF | $3,097,663 | $3,414,412 |
Social Advancement ETF | 1,551,456 | 1,325,424 |
Sustainable Consumption ETF | 2,722,928 | 2,536,771 |
Sustainable Infrastructure ETF | 3,100,937 | 3,165,902 |
Aggregate Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | |
Climate Change Solutions ETF | $22,375,709 | $859,356 | $2,102,291 | $(1,242,935 ) |
Social Advancement ETF | 10,600,249 | 1,572,859 | 149,984 | 1,422,875 |
Sustainable Consumption ETF | 10,729,853 | 995,856 | 321,901 | 673,955 |
Sustainable Infrastructure ETF | 10,671,087 | 689,221 | 637,506 | 51,715 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 37 |
AS OF April 30, 2023 (Unaudited) (continued)
Capital Loss Carryforward Character | |
Short-Term | |
Climate Change Solutions ETF | $3,132,707 |
Social Advancement ETF | 62,027 |
Sustainable Consumption ETF | 5,164 |
% of Ownership | |
Climate Change Solutions ETF | 82 % |
Social Advancement ETF | 89 |
Sustainable Consumption ETF | 89 |
Sustainable Infrastructure ETF | 89 |
38 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 39 |
AS OF April 30, 2023 (Unaudited) (continued)
Climate Change Solutions ETF | Sustainable Infrastructure ETF | |
Germany | 11.5 % | — % |
Spain | — | 12.3 |
United Kingdom | — | 12.6 |
40 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
(Unaudited)
Hypothetical $1,000 Investment
Beginning Account Value November 1, 2022 | Ending Account Value April 30, 2023 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan Climate Change Solutions ETF | ||||
Actual | $1,000.00 | $1,114.40 | $2.57 | 0.49 % |
Hypothetical | 1,000.00 | 1,022.37 | 2.46 | 0.49 |
JPMorgan Social Advancement ETF | ||||
Actual | 1,000.00 | 1,143.90 | 2.60 | 0.49 |
Hypothetical | 1,000.00 | 1,022.37 | 2.46 | 0.49 |
JPMorgan Sustainable Consumption ETF | ||||
Actual | 1,000.00 | 1,093.10 | 2.54 | 0.49 |
Hypothetical | 1,000.00 | 1,022.37 | 2.46 | 0.49 |
JPMorgan Sustainable Infrastructure ETF | ||||
Actual | 1,000.00 | 1,120.20 | 2.58 | 0.49 |
Hypothetical | 1,000.00 | 1,022.37 | 2.46 | 0.49 |
* | Expenses are equal to each Fund's respective annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 41 |
(Unaudited)
42 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
Fund | Ticker | Listing Exchange |
JPMorgan Active China ETF | JCHI | NYSE Arca |
JPMorgan ActiveBuilders Emerging Markets Equity ETF | JEMA | Cboe BZX Exchange, Inc. |
JPMorgan ActiveBuilders International Equity ETF | JIDA | NYSE Arca |
JPMorgan International Growth ETF | JIG | NYSE Arca |
1 | |
2 | |
3 | |
6 | |
9 | |
12 | |
15 | |
34 | |
38 | |
40 | |
53 | |
54 | |
55 |
Past performance is no guarantee of future performance. The general market views expressed in this report are opinions based on market and other conditions through the end of the reporting period and are subject to change without notice. These views are not intended to predict the future performance of a Fund or the securities markets.
Prospective investors should refer to the Funds’ prospectuses for a discussion of the Funds’ investment objectives, strategies and risks. Call J.P. Morgan Exchange-Traded Funds at (844) 457-6383 for a prospectus containing more complete information about a Fund, including management fees and other expenses. Please read it carefully before investing.
Shares are bought and sold throughout the day on an exchange at market price (not at net asset value) through a brokerage account, and are not individually subscribed and redeemed from a Fund. Shares may only be subscribed and redeemed directly from a Fund by Authorized Participants, in very large creation/redemption units. Brokerage commissions will reduce returns.
June 15, 2023 (Unaudited)
“While the effects of rising interest rates is likely to adversely impact economic growth in the months ahead, other factors may aid the global economic outlook, as energy prices have trended downward in recent months and the re-opening of China’s economy may provide support for increased global trade.” — Brian S. Shlissel |
President, J.P. Morgan Exchange-Traded Funds
J.P. Morgan Asset Management
1-844-4JPM-ETF or jpmorgan.com/etfs for more information
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 1 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
2 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
FOR THE PERIOD March 15, 2023 (FUND INCEPTION) THROUGH April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | (0.58)% |
Market Price ** | (0.40)% |
MSCI China All Shares Index (net total return) | 0.04% |
Net Assets as of 4/30/2023 | $12,406,980 |
Fund Ticker | JCHI |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 3 |
FOR THE PERIOD March 15, 2023 (FUND INCEPTION) THROUGH April 30, 2023 (Unaudited) (continued)
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Tencent Holdings Ltd. (China) | 9.8 % |
2. | Alibaba Group Holding Ltd. (China) | 4.2 |
3. | China Merchants Bank Co. Ltd., Class H (China) | 4.0 |
4. | Ping An Insurance Group Co. of China Ltd., Class H (China) | 3.8 |
5. | Kweichow Moutai Co. Ltd., Class A (China) | 3.5 |
6. | Meituan (China) | 3.3 |
7. | NetEase, Inc. (China) | 3.0 |
8. | Wanhua Chemical Group Co. Ltd., Class A (China) | 2.8 |
9. | China Petroleum & Chemical Corp., Class H (China) | 2.5 |
10. | Haier Smart Home Co. Ltd., Class H (China) | 2.5 |
PORTFOLIO COMPOSITION BY SECTOR AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
Consumer Discretionary | 18.6% |
Communication Services | 14.7 |
Financials | 13.1 |
Information Technology | 12.6 |
Consumer Staples | 11.5 |
Health Care | 7.7 |
Materials | 6.1 |
Utilities | 5.6 |
Industrials | 4.7 |
Energy | 2.5 |
Real Estate | 1.6 |
Short-Term Investments | 1.3 |
4 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INCEPTION DATE | CUMULATIVE SINCE INCEPTION | |
JPMorgan Active China ETF | ||
Net Asset Value | March 15, 2023 | (0.58 )% |
Market Price | (0.40 ) |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 5 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | 17.58% |
Market Price ** | 17.95% |
MSCI Emerging Markets Index (net total return) | 16.36% |
Net Assets as of 4/30/2023 | $893,049,122 |
Fund Ticker | JEMA |
6 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
TOP TEN POSITIONS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) | 5.3 % |
2. | Tencent Holdings Ltd. (China) | 3.6 |
3. | Samsung Electronics Co. Ltd. (South Korea) | 3.5 |
4. | Housing Development Finance Corp. Ltd. (India) | 1.7 |
5. | Alibaba Group Holding Ltd. (China) | 1.6 |
6. | Infosys Ltd. (India) | 1.4 |
7. | HDFC Bank Ltd., ADR (India) | 1.3 |
8. | NetEase, Inc. (China) | 1.3 |
9. | Ping An Insurance Group Co. of China Ltd., Class H (China) | 1.2 |
10. | Wal-Mart de Mexico SAB de CV (Mexico) | 1.2 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
China | 30.2% |
Taiwan | 15.4 |
South Korea | 12.5 |
India | 12.5 |
Brazil | 5.8 |
Mexico | 4.6 |
South Africa | 3.9 |
Indonesia | 2.5 |
Saudi Arabia | 2.5 |
Hong Kong | 1.7 |
Thailand | 1.7 |
United Arab Emirates | 1.1 |
United States | 1.1 |
Others (each less than 1.0%) | 4.2 |
Short-Term Investments | 0.3 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 7 |
SIX MONTHS ENDED April 30, 2023 (Unaudited) (continued)
INCEPTION DATE | SIX MONTHS* | 1 YEAR | SINCE INCEPTION | |
JPMorgan ActiveBuilders Emerging Markets Equity ETF | ||||
Net Asset Value | March 10, 2021 | 17.58 % | (4.19 )% | (11.34 )% |
Market Price | 17.95 | (3.77 ) | (11.10 ) |
* | Not annualized. |
8 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | 25.08% |
Market Price ** | 25.37% |
MSCI EAFE Index (net total return) | 24.19% |
Net Assets as of 4/30/2023 | $27,189,889 |
Fund Ticker | JIDA |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 9 |
SIX MONTHS ENDED April 30, 2023 (Unaudited) (continued)
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Nestle SA (Registered) | 3.0 % |
2. | Novo Nordisk A/S, Class B (Denmark) | 2.7 |
3. | LVMH Moet Hennessy Louis Vuitton SE (France) | 2.5 |
4. | ASML Holding NV (Netherlands) | 2.2 |
5. | Roche Holding AG | 2.1 |
6. | Shell plc (Netherlands) | 1.8 |
7. | Novartis AG (Registered) (Switzerland) | 1.8 |
8. | TotalEnergies SE (France) | 1.7 |
9. | AstraZeneca plc (United Kingdom) | 1.7 |
10. | BHP Group Ltd. (Australia) | 1.6 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
Japan | 18.0% |
France | 13.9 |
United Kingdom | 11.4 |
United States | 8.7 |
Germany | 8.4 |
Netherlands | 6.5 |
Australia | 5.3 |
Switzerland | 5.2 |
Denmark | 4.3 |
Sweden | 2.4 |
Spain | 2.0 |
Hong Kong | 1.9 |
Italy | 1.8 |
Singapore | 1.1 |
Others (each less than 1.0%) | 6.4 |
Short-Term Investments | 2.7 |
10 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INCEPTION DATE | SIX MONTHS* | 1 YEAR | SINCE INCEPTION | |
JPMorgan ActiveBuilders International Equity ETF | ||||
Net Asset Value | July 7, 2021 | 25.08 % | 10.98 % | (0.83 )% |
Market Price | 25.37 | 11.39 | (0.74 ) |
* | Not annualized. |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 11 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | 23.30% |
Market Price ** | 23.62% |
MSCI ACWI ex USA Growth Index (net total return) | 21.44% |
Net Assets as of 4/30/2023 | $92,006,634 |
Fund Ticker | JIG |
12 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Taiwan Semiconductor Manufacturing Co. Ltd., ADR (Taiwan) | 4.2 % |
2. | Nestle SA (Registered) | 4.1 |
3. | LVMH Moet Hennessy Louis Vuitton SE (France) | 3.8 |
4. | Tencent Holdings Ltd. (China) | 3.7 |
5. | Novo Nordisk A/S, Class B (Denmark) | 3.2 |
6. | ASML Holding NV (Netherlands) | 3.0 |
7. | AstraZeneca plc (United Kingdom) | 2.9 |
8. | Roche Holding AG | 2.6 |
9. | Canadian National Railway Co. (Canada) | 2.4 |
10. | Keyence Corp. (Japan) | 2.3 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
United Kingdom | 11.8% |
Japan | 11.1 |
France | 11.1 |
United States | 9.9 |
China | 7.0 |
Netherlands | 5.8 |
Canada | 5.3 |
Denmark | 4.9 |
Taiwan | 4.2 |
Germany | 3.7 |
Sweden | 3.3 |
Hong Kong | 2.9 |
Indonesia | 2.7 |
India | 2.4 |
Mexico | 2.0 |
Switzerland | 1.6 |
Brazil | 1.6 |
Australia | 1.5 |
Spain | 1.4 |
Singapore | 1.3 |
Others (each less than 1.0%) | 2.3 |
Short-Term Investments | 2.2 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 13 |
SIX MONTHS ENDED April 30, 2023 (Unaudited) (continued)
INCEPTION DATE | SIX MONTHS* | 1 YEAR | SINCE INCEPTION | |
JPMorgan International Growth ETF | ||||
Net Asset Value | May 20, 2020 | 23.30 % | 5.21 % | 4.97 % |
Market Price | 23.62 | 5.62 | 5.05 |
* | Not annualized. |
14 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 98.5% | ||
Automobile Components — 1.4% | ||
Fuyao Glass Industry Group Co. Ltd., Class A * | 35,400 | 173,765 |
Banks — 7.4% | ||
China Merchants Bank Co. Ltd., Class H * | 103,500 | 499,607 |
Ping An Bank Co. Ltd., Class A * | 117,500 | 213,385 |
Postal Savings Bank of China Co. Ltd., Class H (a) | 307,000 | 200,162 |
913,154 | ||
Beverages — 5.3% | ||
Kweichow Moutai Co. Ltd., Class A * | 1,700 | 432,824 |
Wuliangye Yibin Co. Ltd., Class A | 9,000 | 219,922 |
652,746 | ||
Broadline Retail — 6.3% | ||
Alibaba Group Holding Ltd. * | 48,800 | 515,993 |
JD.com, Inc., Class A | 15,100 | 269,502 |
785,495 | ||
Building Products — 0.7% | ||
Xinyi Glass Holdings Ltd. | 46,000 | 84,159 |
Chemicals — 3.6% | ||
Skshu Paint Co. Ltd., Class A * | 7,100 | 105,252 |
Wanhua Chemical Group Co. Ltd., Class A * | 25,700 | 342,673 |
447,925 | ||
Consumer Staples Distribution & Retail — 1.3% | ||
Yifeng Pharmacy Chain Co. Ltd., Class A * | 22,000 | 158,520 |
Electronic Equipment, Instruments & Components — 3.2% | ||
BOE Technology Group Co. Ltd., Class A * | 414,400 | 240,853 |
Sunny Optical Technology Group Co. Ltd. | 15,200 | 160,623 |
401,476 | ||
Entertainment — 3.0% | ||
NetEase, Inc. | 20,800 | 370,290 |
Food Products — 4.8% | ||
Angel Yeast Co. Ltd., Class A * | 18,800 | 108,750 |
Anjoy Foods Group Co. Ltd., Class A * | 4,400 | 108,174 |
Foshan Haitian Flavouring & Food Co. Ltd., Class A * | 11,800 | 120,536 |
Inner Mongolia Yili Industrial Group Co. Ltd., Class A * | 61,900 | 264,364 |
601,824 | ||
Gas Utilities — 3.4% | ||
China Resources Gas Group Ltd. | 53,200 | 167,917 |
ENN Energy Holdings Ltd. | 18,200 | 249,551 |
417,468 |
INVESTMENTS | SHARES | VALUE($) |
Health Care Equipment & Supplies — 2.2% | ||
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A * | 6,200 | 279,693 |
Health Care Providers & Services — 2.2% | ||
Aier Eye Hospital Group Co. Ltd., Class A * | 19,400 | 82,603 |
Guangzhou Kingmed Diagnostics Group Co. Ltd., Class A * | 16,000 | 189,298 |
271,901 | ||
Hotels, Restaurants & Leisure — 4.5% | ||
H World Group Ltd., ADR * | 3,175 | 148,907 |
Meituan * (a) | 24,000 | 410,171 |
559,078 | ||
Household Durables — 5.2% | ||
Haier Smart Home Co. Ltd., Class H * | 94,600 | 308,357 |
Jason Furniture Hangzhou Co. Ltd., Class A * | 24,400 | 130,826 |
Oppein Home Group, Inc., Class A * | 12,100 | 201,574 |
640,757 | ||
Independent Power and Renewable Electricity Producers — 2.2% | ||
China Yangtze Power Co. Ltd., Class A * | 85,100 | 269,087 |
Insurance — 5.7% | ||
China Pacific Insurance Group Co. Ltd., Class H | 77,400 | 231,196 |
Ping An Insurance Group Co. of China Ltd., Class H | 65,000 | 474,209 |
705,405 | ||
Interactive Media & Services — 10.7% | ||
Kanzhun Ltd., ADR * | 6,275 | 116,025 |
Tencent Holdings Ltd. | 27,400 | 1,217,001 |
1,333,026 | ||
Life Sciences Tools & Services — 1.5% | ||
Wuxi Biologics Cayman, Inc. * (a) | 30,500 | 181,867 |
Machinery — 4.0% | ||
Han's Laser Technology Industry Group Co. Ltd., Class A * | 45,600 | 172,370 |
Jiangsu Hengli Hydraulic Co. Ltd., Class A * | 25,200 | 224,366 |
Zhuzhou CRRC Times Electric Co. Ltd. * | 18,100 | 73,052 |
Zhuzhou CRRC Times Electric Co. Ltd., Class A * | 4,200 | 28,315 |
498,103 | ||
Media — 0.9% | ||
Focus Media Information Technology Co. Ltd., Class A | 118,900 | 110,745 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 15 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Metals & Mining — 2.5% | ||
Baoshan Iron & Steel Co. Ltd., Class A * | 150,400 | 140,049 |
Zijin Mining Group Co. Ltd., Class H * | 98,000 | 165,920 |
305,969 | ||
Oil, Gas & Consumable Fuels — 2.5% | ||
China Petroleum & Chemical Corp., Class H | 476,000 | 311,978 |
Pharmaceuticals — 1.8% | ||
Asymchem Laboratories Tianjin Co. Ltd., Class A * | 7,800 | 142,683 |
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Class A * | 9,000 | 76,691 |
219,374 | ||
Real Estate Management & Development — 1.6% | ||
KE Holdings, Inc. * | 12,946 | 203,123 |
Semiconductors & Semiconductor Equipment — 5.4% | ||
Flat Glass Group Co. Ltd., Class H | 81,000 | 227,716 |
Hangzhou First Applied Material Co. Ltd., Class A * | 15,300 | 108,719 |
LONGi Green Energy Technology Co. Ltd., Class A * | 22,100 | 111,654 |
Montage Technology Co. Ltd., Class A * | 24,700 | 217,762 |
665,851 | ||
Software — 4.0% | ||
Beijing Kingsoft Office Software, Inc., Class A * | 800 | 50,977 |
Hundsun Technologies, Inc., Class A * | 40,800 | 291,820 |
Kingdee International Software Group Co. Ltd. * | 104,000 | 159,917 |
502,714 | ||
Textiles, Apparel & Luxury Goods — 1.2% | ||
Shenzhou International Group Holdings Ltd. | 16,200 | 155,604 |
Total Common Stocks (Cost $12,501,452) | 12,221,097 | |
Short-Term Investments — 1.3% | ||
Investment Companies — 1.3% | ||
JPMorgan Prime Money Market Fund Class IM, 4.95% (b) (c)(Cost $155,553) | 155,491 | 155,538 |
Total Investments — 99.8% (Cost $12,657,005) | 12,376,635 | |
Other Assets Less Liabilities — 0.2% | 30,345 | |
NET ASSETS — 100.0% | 12,406,980 |
Percentages indicated are based on net assets. |
Abbreviations | |
ADR | American Depositary Receipt |
* | Non-income producing security. |
(a) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of April 30, 2023. |
16 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 99.3% | ||
Australia — 0.1% | ||
AngloGold Ashanti Ltd. | 16,110 | 430,565 |
Perseus Mining Ltd. | 176,001 | 260,111 |
690,676 | ||
Brazil — 5.8% | ||
Ambev SA | 659,606 | 1,864,639 |
Atacadao SA | 481,751 | 1,033,469 |
B3 SA - Brasil Bolsa Balcao | 2,308,674 | 5,392,368 |
Banco Bradesco SA (Preference) | 449,410 | 1,241,603 |
Banco BTG Pactual SA | 90,634 | 424,841 |
Banco do Brasil SA | 195,417 | 1,674,902 |
BB Seguridade Participacoes SA | 171,312 | 1,168,114 |
Bradespar SA (Preference) | 37,715 | 178,072 |
Centrais Eletricas Brasileiras SA (Preference) | 83,772 | 610,848 |
Cia de Saneamento Basico do Estado de Sao Paulo SABESP | 31,438 | 288,803 |
Cia Energetica de Minas Gerais (Preference) | 248,514 | 613,338 |
EDP - Energias do Brasil SA | 510,400 | 2,299,348 |
Gerdau SA (Preference) | 111,534 | 561,941 |
Itau Unibanco Holding SA (Preference) | 793,139 | 4,108,968 |
Itausa SA (Preference) | 650,484 | 1,124,177 |
Localiza Rent a Car SA * | 208,834 | 2,426,725 |
Lojas Renner SA * | 673,726 | 2,134,182 |
MercadoLibre, Inc. * | 5,591 | 7,142,447 |
Natura & Co. Holding SA * | 101,979 | 226,129 |
NU Holdings Ltd., Class A * | 80,154 | 413,595 |
Petroleo Brasileiro SA, ADR | 383,551 | 4,073,312 |
Porto Seguro SA | 124,064 | 623,081 |
Raia Drogasil SA | 313,382 | 1,651,165 |
Rumo SA | 110,867 | 436,995 |
Sendas Distribuidora SA | 86,730 | 211,443 |
SLC Agricola SA | 42,877 | 373,083 |
Telefonica Brasil SA | 42,018 | 346,485 |
TIM SA | 179,478 | 501,968 |
TOTVS SA | 46,324 | 237,388 |
Transmissora Alianca de Energia Eletrica SA | 100,842 | 736,128 |
Vale SA, ADR | 266,447 | 3,839,501 |
Vibra Energia SA | 95,748 | 251,089 |
WEG SA | 408,544 | 3,355,798 |
51,565,945 | ||
Canada — 0.1% | ||
B2Gold Corp. | 107,001 | 420,944 |
Ivanhoe Mines Ltd., Class A * | 34,383 | 298,188 |
719,132 |
INVESTMENTS | SHARES | VALUE($) |
Chile — 0.4% | ||
Banco de Chile | 3,031,817 | 322,805 |
Banco Santander Chile | 64,596,564 | 3,088,792 |
Cencosud SA | 219,256 | 446,796 |
3,858,393 | ||
China — 30.1% | ||
3SBio, Inc. (a) | 313,500 | 314,115 |
Aier Eye Hospital Group Co. Ltd., Class A * | 252,094 | 1,073,394 |
Airtac International Group * | 71,000 | 2,576,909 |
Alibaba Group Holding Ltd. * | 1,327,600 | 14,037,546 |
Angel Yeast Co. Ltd., Class A * | 191,509 | 1,107,805 |
Anhui Guangxin Agrochemical Co. Ltd., Class A * | 72,380 | 305,515 |
Anjoy Foods Group Co. Ltd., Class A * | 74,000 | 1,819,289 |
ANTA Sports Products Ltd. | 149,200 | 1,853,993 |
Autobio Diagnostics Co. Ltd., Class A * | 29,000 | 239,866 |
Bank of Jiangsu Co. Ltd., Class A * | 468,100 | 521,741 |
Baoshan Iron & Steel Co. Ltd., Class A * | 585,600 | 545,298 |
Beijing Huafeng Test & Control Technology Co. Ltd., Class A * | 4,693 | 181,038 |
Beijing Kingsoft Office Software, Inc., Class A * | 29,317 | 1,868,106 |
BOC Hong Kong Holdings Ltd. | 113,000 | 356,710 |
BOE Technology Group Co. Ltd., Class A * | 1,206,200 | 701,053 |
Budweiser Brewing Co. APAC Ltd. (a) | 1,019,500 | 2,945,550 |
Centre Testing International Group Co. Ltd., Class A * | 6,600 | 18,375 |
Chacha Food Co. Ltd., Class A * | 133,300 | 834,572 |
China Construction Bank Corp., Class H | 6,871,000 | 4,593,445 |
China Merchants Bank Co. Ltd., Class H * | 1,546,500 | 7,465,150 |
China Merchants Energy Shipping Co. Ltd., Class A * | 276,600 | 265,288 |
China Overseas Land & Investment Ltd. | 987,500 | 2,504,442 |
China Pacific Insurance Group Co. Ltd., Class H | 1,133,200 | 3,384,906 |
China Petroleum & Chemical Corp., Class H | 3,432,000 | 2,249,387 |
China Railway Group Ltd., Class H * | 1,653,000 | 1,270,892 |
China Resources Gas Group Ltd. | 589,400 | 1,860,346 |
China Resources Land Ltd. | 482,000 | 2,244,557 |
China Resources Mixc Lifestyle Services Ltd. (a) | 536,400 | 2,843,782 |
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Class A * | 114,200 | 973,119 |
China State Construction Engineering Corp. Ltd., Class A * | 340,300 | 323,292 |
China Vanke Co. Ltd., Class H * | 415,500 | 649,549 |
China Yangtze Power Co. Ltd., Class A * | 938,200 | 2,966,593 |
Chongqing Brewery Co. Ltd., Class A * | 170,700 | 2,573,626 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 17 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
China — continued | ||
Chongqing Fuling Zhacai Group Co. Ltd., Class A * | 50,500 | 188,187 |
CITIC Securities Co. Ltd., Class H * | 601,500 | 1,266,519 |
CRRC Corp. Ltd., Class H * | 1,295,000 | 837,998 |
DaShenLin Pharmaceutical Group Co. Ltd., Class A * | 86,760 | 431,822 |
Dongfang Electric Corp. Ltd., Class H * | 185,600 | 262,991 |
ENN Energy Holdings Ltd. | 197,700 | 2,710,785 |
ENN Natural Gas Co. Ltd., Class A * | 192,600 | 565,403 |
Fangda Special Steel Technology Co. Ltd., Class A * | 558,700 | 430,993 |
Focus Media Information Technology Co. Ltd., Class A | 347,800 | 323,945 |
Foshan Haitian Flavouring & Food Co. Ltd., Class A * | 289,675 | 2,958,998 |
Full Truck Alliance Co. Ltd., ADR * | 78,201 | 500,486 |
Fuyao Glass Industry Group Co. Ltd., Class H * (a) | 946,800 | 3,851,851 |
Gree Electric Appliances, Inc. of Zhuhai, Class A | 58,700 | 333,691 |
Greentown Management Holdings Co. Ltd. (a) | 262,000 | 250,601 |
Guangdong Investment Ltd. | 962,000 | 919,650 |
H World Group Ltd. * | 588,900 | 2,754,715 |
Haier Smart Home Co. Ltd., Class H * | 2,943,200 | 9,593,605 |
Hangzhou Tigermed Consulting Co. Ltd., Class H (a) | 55,000 | 458,161 |
Han's Laser Technology Industry Group Co. Ltd., Class A * | 166,300 | 628,621 |
Hefei Meiya Optoelectronic Technology, Inc., Class A * | 666,721 | 2,616,658 |
Hongfa Technology Co. Ltd., Class A * | 203,200 | 919,126 |
Huayu Automotive Systems Co. Ltd., Class A * | 534,346 | 1,266,002 |
Hubei Xingfa Chemicals Group Co. Ltd., Class A * | 59,000 | 211,079 |
Hundsun Technologies, Inc., Class A * | 39,200 | 280,377 |
Imeik Technology Development Co. Ltd., Class A * | 10,700 | 841,669 |
Industrial & Commercial Bank of China Ltd., Class H | 483,000 | 259,856 |
Inner Mongolia Yili Industrial Group Co. Ltd., Class A * | 1,111,613 | 4,747,505 |
Jade Bird Fire Co. Ltd., Class A * | 78,622 | 286,069 |
JD Health International, Inc. * (a) | 253,800 | 1,831,452 |
JD.com, Inc., Class A | 324,050 | 5,783,594 |
Jiangsu Hengli Hydraulic Co. Ltd., Class A * | 151,200 | 1,346,196 |
Jiangxi Copper Co. Ltd., Class H | 125,000 | 222,368 |
Joyoung Co. Ltd., Class A * | 123,700 | 291,210 |
INVESTMENTS | SHARES | VALUE($) |
China — continued | ||
Kanzhun Ltd., ADR * | 96,580 | 1,785,764 |
Kingdee International Software Group Co. Ltd. * | 972,000 | 1,494,609 |
Kunlun Energy Co. Ltd. | 1,874,000 | 1,737,213 |
Kweichow Moutai Co. Ltd., Class A * | 13,400 | 3,411,667 |
Laobaixing Pharmacy Chain JSC, Class A * | 76,400 | 384,949 |
Livzon Pharmaceutical Group, Inc., Class H * | 145,400 | 527,294 |
LONGi Green Energy Technology Co. Ltd., Class A * | 264,996 | 1,338,817 |
Luzhou Laojiao Co. Ltd., Class A | 43,900 | 1,434,714 |
Meituan * (a) | 505,370 | 8,637,004 |
Midea Group Co. Ltd., Class A | 481,912 | 3,956,052 |
Minth Group Ltd. | 108,000 | 312,723 |
Montage Technology Co. Ltd., Class A * | 73,347 | 646,647 |
NARI Technology Co. Ltd., Class A * | 438,340 | 1,657,191 |
NetEase, Inc. | 633,900 | 11,284,942 |
New Horizon Health Ltd. * (a) | 152,000 | 545,458 |
Ningbo Tuopu Group Co. Ltd., Class A * | 49,800 | 365,331 |
Nongfu Spring Co. Ltd., Class H (a) | 55,600 | 301,672 |
Oppein Home Group, Inc., Class A * | 53,384 | 889,326 |
Opple Lighting Co. Ltd., Class A * | 74,700 | 224,965 |
PDD Holdings, Inc., ADR * | 48,041 | 3,273,994 |
PetroChina Co. Ltd., Class H | 2,354,000 | 1,635,170 |
PICC Property & Casualty Co. Ltd., Class H * | 1,444,000 | 1,746,458 |
Ping An Bank Co. Ltd., Class A * | 991,856 | 1,801,253 |
Ping An Insurance Group Co. of China Ltd., Class H | 1,465,000 | 10,687,938 |
Poly Developments and Holdings Group Co. Ltd., Class A * | 415,400 | 835,334 |
Postal Savings Bank of China Co. Ltd., Class H (a) | 800,000 | 521,594 |
Qingdao Haier Biomedical Co. Ltd., Class A * | 48,776 | 486,546 |
Sany Heavy Industry Co. Ltd., Class A * | 90,000 | 214,747 |
Shanghai Baosight Software Co. Ltd., Class A * | 219,293 | 1,711,250 |
Shanghai Liangxin Electrical Co. Ltd., Class A | 202,200 | 335,935 |
Shanghai Pharmaceuticals Holding Co. Ltd., Class H * | 266,100 | 540,974 |
Shenzhen Inovance Technology Co. Ltd., Class A * | 64,200 | 573,788 |
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A * | 24,600 | 1,109,751 |
Shenzhou International Group Holdings Ltd. | 218,400 | 2,097,768 |
Sichuan Swellfun Co. Ltd., Class A * | 249,500 | 2,365,771 |
Silergy Corp. | 172,000 | 2,714,905 |
Skshu Paint Co. Ltd., Class A * | 139,440 | 2,067,080 |
StarPower Semiconductor Ltd., Class A * | 26,274 | 921,084 |
18 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
China — continued | ||
Suzhou Maxwell Technologies Co. Ltd., Class A * | 13,560 | 538,728 |
Tencent Holdings Ltd. | 711,500 | 31,602,066 |
Tingyi Cayman Islands Holding Corp. | 1,448,000 | 2,530,454 |
Topsports International Holdings Ltd. (a) | 1,459,000 | 1,300,609 |
Trip.com Group Ltd. * | 96,150 | 3,418,607 |
Tsingtao Brewery Co. Ltd. * | 36,000 | 385,403 |
Vipshop Holdings Ltd., ADR * | 24,571 | 385,765 |
Wanhua Chemical Group Co. Ltd., Class A * | 220,700 | 2,942,725 |
Warom Technology, Inc. Co., Class A * | 88,100 | 347,223 |
Wuliangye Yibin Co. Ltd., Class A | 154,500 | 3,775,330 |
WuXi AppTec Co. Ltd., Class H (a) | 34,100 | 299,907 |
Wuxi Biologics Cayman, Inc. * (a) | 929,500 | 5,542,459 |
Xiamen Xiangyu Co. Ltd., Class A | 231,100 | 356,219 |
Xinyi Glass Holdings Ltd. | 1,010,000 | 1,847,836 |
Xinyi Solar Holdings Ltd. | 936,000 | 1,006,291 |
XPeng, Inc., Class A * | 40,100 | 191,475 |
Yangzhou Yangjie Electronic Technology Co. Ltd., Class A * | 97,900 | 629,741 |
Yixintang Pharmaceutical Group Co. Ltd., Class A * | 65,700 | 274,056 |
YTO Express Group Co. Ltd., Class A * | 162,600 | 406,682 |
Yum China Holdings, Inc. | 101,862 | 6,231,917 |
Zhejiang Dingli Machinery Co. Ltd., Class A * | 27,500 | 203,136 |
Zhejiang Jingsheng Mechanical & Electrical Co. Ltd., Class A * | 94,000 | 931,282 |
Zhejiang Supcon Technology Co. Ltd., Class A * | 85,867 | 1,197,988 |
Zhejiang Supor Co. Ltd., Class A * | 365,373 | 2,718,971 |
Zhejiang Weixing New Building Materials Co. Ltd., Class A * | 104,300 | 333,311 |
Zhuhai Huafa Properties Co. Ltd., Class A | 234,800 | 360,166 |
Zhuzhou CRRC Times Electric Co. Ltd. * | 224,600 | 906,485 |
Zijin Mining Group Co. Ltd., Class H * | 900,000 | 1,523,750 |
ZTO Express Cayman, Inc. | 76,200 | 2,097,981 |
268,505,673 | ||
Czech Republic — 0.0% ^ | ||
Komercni Banka A/S | 11,435 | 369,221 |
Ghana — 0.1% | ||
Kosmos Energy Ltd. * | 82,130 | 525,632 |
Greece — 0.3% | ||
Hellenic Telecommunications Organization SA | 47,803 | 698,482 |
JUMBO SA | 17,182 | 395,865 |
Motor Oil Hellas Corinth Refineries SA * | 12,495 | 297,800 |
INVESTMENTS | SHARES | VALUE($) |
Greece — continued | ||
National Bank of Greece SA * | 81,258 | 425,236 |
OPAP SA * | 47,563 | 811,078 |
2,628,461 | ||
Hong Kong — 1.7% | ||
AIA Group Ltd. | 531,400 | 5,785,392 |
Hang Seng Bank Ltd. | 72,400 | 1,073,175 |
HKT Trust & HKT Ltd. | 485,000 | 637,422 |
Hong Kong Exchanges & Clearing Ltd. | 116,600 | 4,840,871 |
Prudential plc | 14,159 | 216,647 |
Techtronic Industries Co. Ltd. | 238,500 | 2,580,210 |
WH Group Ltd. (a) | 616,077 | 342,994 |
15,476,711 | ||
Hungary — 0.3% | ||
MOL Hungarian Oil & Gas plc | 53,140 | 430,926 |
OTP Bank Nyrt. | 55,572 | 1,693,441 |
Richter Gedeon Nyrt. | 20,337 | 491,190 |
2,615,557 | ||
India — 12.4% | ||
Aarti Industries Ltd. | 36,457 | 251,367 |
Aarti Pharmalabs Ltd. * | 9,438 | 42,031 |
Apollo Hospitals Enterprise Ltd. | 24,597 | 1,361,570 |
Asian Paints Ltd. | 14,178 | 504,572 |
Axis Bank Ltd. * | 351,672 | 3,712,218 |
Bajaj Auto Ltd. | 14,162 | 768,657 |
Bharat Electronics Ltd. | 1,230,321 | 1,558,163 |
Britannia Industries Ltd. | 57,253 | 3,192,305 |
Coforge Ltd. | 11,322 | 582,418 |
Colgate-Palmolive India Ltd. | 19,029 | 371,573 |
Cummins India Ltd. | 36,786 | 710,389 |
Dr Lal PathLabs Ltd. (a) | 7,580 | 181,602 |
Dr Reddy's Laboratories Ltd. | 15,211 | 917,261 |
Eicher Motors Ltd. | 9,239 | 374,127 |
Embassy Office Parks, REIT | 157,177 | 633,212 |
HCL Technologies Ltd. | 225,911 | 2,953,571 |
HDFC Asset Management Co. Ltd. * (a) | 19,401 | 419,368 |
HDFC Bank Ltd., ADR * | 162,029 | 11,309,624 |
HDFC Life Insurance Co. Ltd. * (a) | 664,225 | 4,312,161 |
Hero MotoCorp Ltd. | 19,964 | 626,049 |
Hindustan Unilever Ltd. | 225,497 | 6,787,391 |
Housing Development Finance Corp. Ltd. | 448,838 | 15,292,745 |
ICICI Bank Ltd. * | 662,273 | 7,471,159 |
ICICI Prudential Life Insurance Co. Ltd. * (a) | 39,775 | 211,949 |
Info Edge India Ltd. | 30,511 | 1,415,680 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 19 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
India — continued | ||
Infosys Ltd. | 809,710 | 12,493,153 |
ITC Ltd. | 108,438 | 565,478 |
Jubilant Foodworks Ltd. | 76,750 | 420,921 |
Kotak Mahindra Bank Ltd. | 235,104 | 5,595,490 |
Lemon Tree Hotels Ltd. * (a) | 609,727 | 659,163 |
Maruti Suzuki India Ltd. | 11,277 | 1,187,706 |
Metropolis Healthcare Ltd. (a) | 23,805 | 365,130 |
Multi Commodity Exchange of India Ltd. | 19,927 | 341,974 |
Oil & Natural Gas Corp. Ltd. | 416,661 | 812,594 |
Petronet LNG Ltd. | 672,947 | 1,954,550 |
Power Grid Corp. of India Ltd. | 464,901 | 1,351,843 |
Reliance Industries Ltd. | 182,012 | 5,405,239 |
Shriram Finance Ltd. | 101,093 | 1,652,181 |
Tata Consultancy Services Ltd. * | 179,480 | 7,096,044 |
Triveni Turbine Ltd. | 58,191 | 260,879 |
UltraTech Cement Ltd. | 30,583 | 2,831,195 |
United Spirits Ltd. * | 63,890 | 609,086 |
UPL Ltd. | 55,104 | 500,109 |
WNS Holdings Ltd., ADR * | 10,117 | 912,250 |
110,976,147 | ||
Indonesia — 2.5% | ||
Astra International Tbk. PT | 1,001,400 | 461,915 |
Bank Central Asia Tbk. PT | 12,183,000 | 7,539,468 |
Bank Mandiri Persero Tbk. PT | 2,099,600 | 742,209 |
Bank Negara Indonesia Persero Tbk. PT | 777,200 | 500,866 |
Bank Rakyat Indonesia Persero Tbk. PT | 20,713,270 | 7,218,145 |
Indofood CBP Sukses Makmur Tbk. PT | 352,600 | 254,589 |
Kalbe Farma Tbk. PT | 2,413,400 | 349,421 |
Merdeka Copper Gold Tbk. PT * | 654,300 | 176,503 |
Telkom Indonesia Persero Tbk. PT | 16,595,500 | 4,806,867 |
Unilever Indonesia Tbk. PT | 808,000 | 242,690 |
United Tractors Tbk. PT | 167,800 | 331,250 |
22,623,923 | ||
Kuwait — 0.1% | ||
National Bank of Kuwait SAKP | 272,943 | 896,075 |
Macau — 0.1% | ||
Sands China Ltd. * | 289,200 | 1,035,747 |
Malaysia — 0.4% | ||
CIMB Group Holdings Bhd. | 340,200 | 386,509 |
Hong Leong Bank Bhd. | 71,600 | 323,584 |
IHH Healthcare Bhd. | 168,500 | 216,837 |
Kuala Lumpur Kepong Bhd. | 41,300 | 199,482 |
Malayan Banking Bhd. | 217,700 | 423,052 |
INVESTMENTS | SHARES | VALUE($) |
Malaysia — continued | ||
Petronas Chemicals Group Bhd. | 193,500 | 307,926 |
Press Metal Aluminium Holdings Bhd. | 216,800 | 251,223 |
Public Bank Bhd. | 1,512,800 | 1,321,052 |
Tenaga Nasional Bhd. | 193,200 | 385,885 |
3,815,550 | ||
Mexico — 4.6% | ||
America Movil SAB de CV | 2,035,912 | 2,195,630 |
Arca Continental SAB de CV | 89,163 | 851,734 |
Bolsa Mexicana de Valores SAB de CV | 463,480 | 1,021,334 |
Cemex SAB de CV * | 564,996 | 339,698 |
Coca-Cola Femsa SAB de CV | 38,931 | 322,457 |
Corp. Inmobiliaria Vesta SAB de CV | 220,619 | 696,969 |
Fomento Economico Mexicano SAB de CV | 59,660 | 580,291 |
Gentera SAB de CV | 549,867 | 604,320 |
Gruma SAB de CV, Class B | 35,083 | 550,924 |
Grupo Aeroportuario del Centro Norte SAB de CV | 34,318 | 376,478 |
Grupo Aeroportuario del Pacifico SAB de CV, Class B | 220,771 | 3,925,486 |
Grupo Aeroportuario del Sureste SAB de CV, Class B | 108,932 | 3,120,643 |
Grupo Financiero Banorte SAB de CV, Class O | 1,096,662 | 9,504,262 |
Grupo Mexico SAB de CV | 232,140 | 1,135,297 |
Kimberly-Clark de Mexico SAB de CV, Class A | 1,253,155 | 2,832,572 |
Qualitas Controladora SAB de CV | 48,100 | 319,400 |
Regional SAB de CV | 109,157 | 799,151 |
Southern Copper Corp. | 13,847 | 1,063,865 |
Wal-Mart de Mexico SAB de CV | 2,624,006 | 10,576,585 |
40,817,096 | ||
Nigeria — 0.0% ^ | ||
Airtel Africa plc (a) | 118,188 | 178,408 |
Panama — 0.1% | ||
Copa Holdings SA, Class A | 5,357 | 483,844 |
Peru — 0.2% | ||
Credicorp Ltd. | 16,338 | 2,213,472 |
Philippines — 0.2% | ||
ACEN Corp. * | 76,740 | 8,354 |
Ayala Land, Inc. | 511,400 | 247,160 |
Bank of the Philippine Islands | 128,490 | 249,924 |
BDO Unibank, Inc. | 146,580 | 382,068 |
International Container Terminal Services, Inc. | 56,150 | 220,203 |
20 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Philippines — continued | ||
SM Investments Corp. | 15,940 | 258,298 |
SM Prime Holdings, Inc. | 438,700 | 269,488 |
1,635,495 | ||
Poland — 0.7% | ||
Allegro.eu SA * (a) | 130,097 | 1,025,455 |
Bank Polska Kasa Opieki SA | 29,503 | 682,614 |
Dino Polska SA * (a) | 23,723 | 2,419,349 |
Powszechny Zaklad Ubezpieczen SA | 275,374 | 2,536,990 |
6,664,408 | ||
Portugal — 0.2% | ||
Jeronimo Martins SGPS SA | 85,487 | 2,157,284 |
Qatar — 0.6% | ||
Industries Qatar QSC | 448,904 | 1,581,774 |
Qatar Gas Transport Co. Ltd. | 576,432 | 628,792 |
Qatar National Bank QPSC | 667,058 | 2,824,557 |
5,035,123 | ||
Russia — 0.0% ^ | ||
Gazprom PJSC, ADR ‡ * | 12,780 | 1,426 |
Gazprom PJSC ‡ | 1,135,066 | 67,558 |
Magnitogorsk Iron & Steel Works PJSC, GDR ‡ * | 12,378 | 1,869 |
MMC Norilsk Nickel PJSC, ADR ‡ * | 2,018 | 969 |
MMC Norilsk Nickel PJSC ‡ | 2,036 | 10,183 |
Moscow Exchange MICEX-RTS PJSC ‡ * | 571,670 | 13,582 |
Rosneft Oil Co. PJSC ‡ | 141,777 | 10,920 |
Sberbank of Russia PJSC ‡ * | 629,236 | 20,535 |
Severstal PAO, GDR ‡ * (a) | 98,048 | 31,375 |
VTB Bank PJSC ‡ * | 168,450,798 | 794 |
X5 Retail Group NV, GDR ‡ * (a) | 13,771 | 3,324 |
162,535 | ||
Saudi Arabia — 2.5% | ||
Al Rajhi Bank | 180,395 | 3,723,345 |
Alinma Bank | 147,381 | 1,254,693 |
Almarai Co. JSC | 53,856 | 849,596 |
Arabian Contracting Services Co. | 13,167 | 443,084 |
Arabian Drilling Co. * | 14,071 | 554,481 |
Elm Co. | 4,646 | 550,978 |
Etihad Etisalat Co. * | 47,735 | 588,738 |
Jarir Marketing Co. | 7,286 | 317,840 |
Leejam Sports Co. JSC | 14,864 | 473,853 |
Mouwasat Medical Services Co. | 23,382 | 1,545,335 |
Riyad Bank | 109,566 | 883,695 |
INVESTMENTS | SHARES | VALUE($) |
Saudi Arabia — continued | ||
Riyadh Cables Group Co. * | 41,171 | 561,843 |
SABIC Agri-Nutrients Co. | 33,591 | 1,207,769 |
Saudi Arabian Mining Co. * | 11,183 | 209,198 |
Saudi Arabian Oil Co. (a) | 87,113 | 839,688 |
Saudi Basic Industries Corp. | 74,173 | 1,835,238 |
Saudi British Bank (The) | 73,677 | 715,310 |
Saudi National Bank (The) | 232,933 | 3,057,166 |
Saudi Telecom Co. | 139,447 | 1,678,381 |
United International Transportation Co. | 49,574 | 789,776 |
22,080,007 | ||
Singapore — 0.1% | ||
Sea Ltd., ADR * | 16,338 | 1,244,465 |
South Africa — 3.9% | ||
Absa Group Ltd. | 52,640 | 512,070 |
African Rainbow Minerals Ltd. | 14,611 | 183,549 |
Anglo American plc | 56,867 | 1,752,310 |
AVI Ltd. | 261,695 | 976,655 |
Bid Corp. Ltd. | 185,724 | 4,226,700 |
Bidvest Group Ltd. (The) | 147,532 | 2,020,727 |
Capitec Bank Holdings Ltd. | 45,069 | 3,924,508 |
Clicks Group Ltd. | 153,005 | 2,236,127 |
FirstRand Ltd. | 1,671,070 | 5,889,307 |
Foschini Group Ltd. (The) | 56,409 | 292,497 |
Gold Fields Ltd. | 35,806 | 557,977 |
Impala Platinum Holdings Ltd. | 37,691 | 366,952 |
Mr Price Group Ltd. | 43,106 | 354,462 |
MTN Group Ltd. | 115,740 | 812,936 |
Naspers Ltd., Class N | 13,689 | 2,440,224 |
Sanlam Ltd. | 572,723 | 1,766,776 |
Shoprite Holdings Ltd. | 77,707 | 948,338 |
Sibanye Stillwater Ltd. | 128,413 | 283,900 |
Standard Bank Group Ltd. | 247,370 | 2,319,277 |
Truworths International Ltd. | 102,762 | 305,491 |
Vodacom Group Ltd. | 325,872 | 2,233,643 |
Woolworths Holdings Ltd. | 80,192 | 285,171 |
34,689,597 | ||
South Korea — 12.5% | ||
AfreecaTV Co. Ltd. | 10,016 | 583,877 |
BGF retail Co. Ltd. | 11,961 | 1,668,721 |
CJ CheilJedang Corp. * | 3,649 | 844,992 |
Coupang, Inc. * | 28,900 | 484,364 |
Coway Co. Ltd. | 13,771 | 505,622 |
DB Insurance Co. Ltd. | 5,243 | 329,583 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 21 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
South Korea — continued | ||
DL Holdings Co. Ltd. | 6,319 | 234,140 |
Eo Technics Co. Ltd. | 6,844 | 448,059 |
Eugene Technology Co. Ltd. | 26,184 | 568,328 |
HAESUNG DS Co. Ltd. | 6,658 | 233,564 |
Hana Financial Group, Inc. | 127,331 | 4,001,205 |
Hankook Tire & Technology Co. Ltd. | 45,071 | 1,164,044 |
Hanon Systems | 91,870 | 631,529 |
HL Mando Co. Ltd. | 6,254 | 217,270 |
Hugel, Inc. * | 12,756 | 1,085,698 |
Hyundai Engineering & Construction Co. Ltd. | 14,297 | 439,886 |
Hyundai Glovis Co. Ltd. | 6,563 | 805,087 |
Hyundai Mobis Co. Ltd. | 18,032 | 2,936,697 |
Hyundai Motor Co. | 4,389 | 650,139 |
Industrial Bank of Korea | 80,645 | 607,319 |
JYP Entertainment Corp. | 22,271 | 1,506,587 |
K Car Co. Ltd. | 58,784 | 631,081 |
KakaoBank Corp. | 12,183 | 201,696 |
Kangwon Land, Inc. | 41,649 | 589,976 |
KB Financial Group, Inc. | 130,071 | 4,827,744 |
Kia Corp. | 73,399 | 4,648,603 |
KIWOOM Securities Co. Ltd. | 12,932 | 908,817 |
Korea Gas Corp. * | 11,379 | 228,297 |
Korea Investment Holdings Co. Ltd. | 17,307 | 715,277 |
Kumho Petrochemical Co. Ltd. | 4,657 | 476,218 |
LG Chem Ltd. | 14,950 | 8,304,478 |
LG Energy Solution Ltd. * | 1,410 | 614,528 |
LG H&H Co. Ltd. | 4,911 | 2,293,174 |
Lotte Chemical Corp. | 2,044 | 257,619 |
NAVER Corp. | 18,499 | 2,680,050 |
NCSoft Corp. | 11,640 | 3,293,798 |
Orion Corp. | 4,177 | 452,852 |
Pan Ocean Co. Ltd. | 100,903 | 411,786 |
POSCO Holdings, Inc. | 11,696 | 3,310,023 |
Samsung Biologics Co. Ltd. * (a) | 3,756 | 2,196,728 |
Samsung Electro-Mechanics Co. Ltd. | 16,818 | 1,818,786 |
Samsung Electronics Co. Ltd. | 626,199 | 30,811,555 |
Samsung Engineering Co. Ltd. * | 21,683 | 473,277 |
Samsung Fire & Marine Insurance Co. Ltd. | 6,415 | 1,079,171 |
Samsung Life Insurance Co. Ltd. | 11,044 | 547,517 |
Shinhan Financial Group Co. Ltd. | 101,672 | 2,661,815 |
SK Hynix, Inc. | 130,137 | 8,756,072 |
SK IE Technology Co. Ltd. * (a) | 3,656 | 212,558 |
SK Innovation Co. Ltd. * | 9,849 | 1,281,835 |
SK Telecom Co. Ltd. | 31,172 | 1,110,769 |
INVESTMENTS | SHARES | VALUE($) |
South Korea — continued | ||
SK, Inc. | 12,441 | 1,517,179 |
SKC Co. Ltd. | 15,385 | 1,149,075 |
S-Oil Corp. | 32,672 | 1,829,888 |
ST Pharm Co. Ltd. | 5,129 | 303,908 |
YG Entertainment, Inc. | 8,094 | 370,825 |
Yuhan Corp. | 7,435 | 320,594 |
111,234,280 | ||
Taiwan — 15.3% | ||
Accton Technology Corp. * | 422,000 | 4,122,478 |
Advantech Co. Ltd. * | 565,000 | 6,840,965 |
ASE Technology Holding Co. Ltd. * | 699,000 | 2,297,998 |
ASMedia Technology, Inc. * | 20,000 | 743,773 |
ASPEED Technology, Inc. * | 32,500 | 2,783,003 |
AUO Corp. * | 814,000 | 452,094 |
Chailease Holding Co. Ltd. * | 449,345 | 3,272,638 |
China Steel Corp. * | 2,462,000 | 2,335,048 |
Chunghwa Telecom Co. Ltd. * | 295,000 | 1,220,662 |
CTBC Financial Holding Co. Ltd. | 2,934,000 | 2,162,765 |
Delta Electronics, Inc. * | 715,000 | 7,004,119 |
E.Sun Financial Holding Co. Ltd. * | 3,056,427 | 2,485,644 |
Eclat Textile Co. Ltd. * | 242,000 | 3,853,858 |
eMemory Technology, Inc. * | 13,000 | 777,293 |
Eva Airways Corp. * | 379,000 | 332,346 |
Faraday Technology Corp. * | 137,000 | 736,993 |
Feng TAY Enterprise Co. Ltd. * | 66,000 | 410,606 |
Fubon Financial Holding Co. Ltd. * | 1,458,600 | 2,809,118 |
Giant Manufacturing Co. Ltd. * | 235,000 | 1,409,629 |
Gigabyte Technology Co. Ltd. * | 88,000 | 376,823 |
Global Unichip Corp. * | 84,000 | 2,740,473 |
Hon Hai Precision Industry Co. Ltd. * | 1,158,000 | 3,945,943 |
Largan Precision Co. Ltd. | 23,000 | 1,510,231 |
Lotes Co. Ltd. * | 14,363 | 411,850 |
Makalot Industrial Co. Ltd. | 211,000 | 1,532,441 |
MediaTek, Inc. * | 114,000 | 2,478,799 |
Mega Financial Holding Co. Ltd. * | 1,348,000 | 1,495,521 |
Micro-Star International Co. Ltd. * | 156,000 | 741,469 |
momo.com, Inc. * | 7,920 | 214,600 |
Nan Ya Plastics Corp. * | 550,000 | 1,397,867 |
Nien Made Enterprise Co. Ltd. * | 75,000 | 825,761 |
Novatek Microelectronics Corp. * | 372,000 | 5,085,656 |
Nuvoton Technology Corp. * | 81,000 | 352,921 |
Pegavision Corp. * | 24,000 | 340,411 |
Poya International Co. Ltd. * | 17,000 | 318,190 |
President Chain Store Corp. * | 385,000 | 3,391,813 |
22 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Taiwan — continued | ||
Realtek Semiconductor Corp. * | 249,000 | 2,920,016 |
Taiwan Cement Corp. * | 497,961 | 628,181 |
Taiwan Semiconductor Manufacturing Co. Ltd. | 2,870,000 | 46,997,953 |
Unimicron Technology Corp. * | 269,000 | 1,278,112 |
Uni-President Enterprises Corp. * | 728,000 | 1,745,277 |
United Microelectronics Corp. * | 1,510,000 | 2,428,619 |
Vanguard International Semiconductor Corp. * | 962,000 | 2,726,416 |
Voltronic Power Technology Corp. * | 6,000 | 345,000 |
Wistron Corp. * | 318,000 | 481,999 |
Wiwynn Corp. * | 70,000 | 2,663,965 |
Yageo Corp. * | 67,000 | 1,086,134 |
Zhen Ding Technology Holding Ltd. | 79,000 | 287,796 |
136,801,267 | ||
Thailand — 1.7% | ||
Advanced Info Service PCL | 120,600 | 757,171 |
Airports of Thailand PCL * | 487,200 | 1,046,663 |
Bangkok Dusit Medical Services PCL, Class F | 752,900 | 644,918 |
Bangkok Expressway & Metro PCL, NVDR | 825,900 | 214,421 |
Central Pattana PCL, NVDR | 193,400 | 386,480 |
Central Retail Corp. PCL, NVDR | 156,800 | 206,287 |
CP ALL PCL | 365,300 | 691,029 |
Energy Absolute PCL, NVDR | 99,100 | 197,287 |
Global Power Synergy PCL, NVDR | 95,900 | 180,397 |
Gulf Energy Development PCL | 241,900 | 360,790 |
Intouch Holdings PCL, NVDR | 120,700 | 265,763 |
Kasikornbank PCL, NVDR | 66,800 | 245,248 |
Krung Thai Bank PCL, NVDR | 1,273,700 | 673,363 |
PTT Exploration & Production PCL | 748,900 | 3,258,502 |
PTT Global Chemical PCL | 169,200 | 206,460 |
PTT PCL | 680,500 | 619,468 |
SCB X PCL | 866,900 | 2,614,853 |
SCG Packaging PCL, NVDR | 164,700 | 212,857 |
Siam Cement PCL (The) (Registered) | 217,600 | 2,005,035 |
Thai Oil PCL | 341,363 | 467,279 |
15,254,271 | ||
United Arab Emirates — 1.1% | ||
Abu Dhabi Commercial Bank PJSC | 93,100 | 223,687 |
Abu Dhabi Islamic Bank PJSC | 236,162 | 731,647 |
Abu Dhabi National Oil Co. for Distribution PJSC | 443,296 | 529,932 |
ADNOC Drilling Co. PJSC | 367,354 | 429,145 |
Adnoc Gas plc * | 352,935 | 308,505 |
Al Ansari Financial Services PJSC * | 3,452,632 | 1,118,817 |
Aldar Properties PJSC | 630,129 | 929,432 |
INVESTMENTS | SHARES | VALUE($) |
United Arab Emirates — continued | ||
Borouge plc | 373,746 | 268,862 |
Dubai Electricity & Water Authority PJSC * | 1,833,211 | 1,238,015 |
Dubai Islamic Bank PJSC | 162,314 | 246,249 |
Emaar Properties PJSC | 682,861 | 1,107,096 |
Fertiglobe plc | 568,470 | 595,366 |
First Abu Dhabi Bank PJSC | 367,025 | 1,419,216 |
Salik Co. PJSC | 927,007 | 754,772 |
9,900,741 | ||
United States — 1.1% | ||
EPAM Systems, Inc. * | 9,491 | 2,680,638 |
Genpact Ltd. | 68,514 | 3,052,299 |
Globant SA * | 10,741 | 1,684,940 |
JS Global Lifestyle Co. Ltd. * (a) | 755,000 | 669,363 |
Parade Technologies Ltd. | 50,000 | 1,531,377 |
9,618,617 | ||
Zambia — 0.1% | ||
First Quantum Minerals Ltd. | 29,005 | 704,760 |
Total Common Stocks (Cost $966,030,035) | 887,178,513 | |
NO. OF RIGHTS | ||
Rights — 0.0% ^ | ||
Brazil — 0.0% ^ | ||
Localiza Rent a Car SA, expiring 5/11/2023*(Cost $—) | 953 | 3,279 |
SHARES | ||
Short-Term Investments — 0.3% | ||
Investment Companies — 0.3% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 4.95% (b) (c)(Cost $2,625,587) | 2,624,800 | 2,625,587 |
Total Investments — 99.6% (Cost $968,655,622) | 889,807,379 | |
Other Assets Less Liabilities — 0.4% | 3,241,743 | |
NET ASSETS — 100.0% | 893,049,122 |
Percentages indicated are based on net assets. |
Abbreviations | |
ADR | American Depositary Receipt |
APAC | Asia Pacific |
GDR | Global Depositary Receipt |
JSC | Joint Stock Company |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 23 |
AS OF April 30, 2023 (Unaudited) (continued)
NVDR | Non-Voting Depositary Receipt |
PJSC | Public Joint Stock Company |
Preference | A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference shares may also have liquidation preference. |
PT | Limited liability company |
REIT | Real Estate Investment Trust |
RTS | Russian Trading System |
SGPS | Holding company |
^ | Amount rounds to less than 0.1% of net assets. | |
‡ | Value determined using significant unobservable inputs. | |
* | Non-income producing security. | |
(a) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. | |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(c) | The rate shown is the current yield as of April 30, 2023. |
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Banks | 15.3 % |
Semiconductors & Semiconductor Equipment | 10.4 |
Technology Hardware, Storage & Peripherals | 4.7 |
Interactive Media & Services | 4.3 |
Insurance | 4.2 |
Broadline Retail | 4.0 |
Consumer Staples Distribution & Retail | 3.9 |
IT Services | 3.1 |
Oil, Gas & Consumable Fuels | 3.1 |
Financial Services | 2.9 |
Hotels, Restaurants & Leisure | 2.8 |
Food Products | 2.7 |
Chemicals | 2.6 |
Beverages | 2.4 |
Metals & Mining | 2.4 |
Electronic Equipment, Instruments & Components | 2.2 |
Household Durables | 2.2 |
Entertainment | 2.0 |
Capital Markets | 1.7 |
Machinery | 1.5 |
Real Estate Management & Development | 1.5 |
Automobile Components | 1.2 |
Textiles, Apparel & Luxury Goods | 1.1 |
Personal Care Products | 1.1 |
Transportation Infrastructure | 1.1 |
Diversified Telecommunication Services | 1.1 |
Electrical Equipment | 1.0 |
Automobiles | 1.0 |
Life Sciences Tools & Services | 1.0 |
Wireless Telecommunication Services | 1.0 |
Others (each less than 1.0%) | 10.2 |
Short-Term Investments | 0.3 |
24 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 96.5% | ||
Australia — 5.3% | ||
ANZ Group Holdings Ltd. | 3,633 | 58,994 |
BHP Group Ltd. | 14,964 | 444,094 |
BlueScope Steel Ltd. | 3,161 | 42,015 |
Commonwealth Bank of Australia | 631 | 41,757 |
Glencore plc | 17,588 | 103,815 |
Goodman Group, REIT | 1,458 | 18,796 |
IDP Education Ltd. | 428 | 8,041 |
Macquarie Group Ltd. | 250 | 30,498 |
Medibank Pvt Ltd. | 8,658 | 20,490 |
National Australia Bank Ltd. | 1,681 | 32,361 |
Qantas Airways Ltd. * | 7,751 | 34,181 |
QBE Insurance Group Ltd. | 2,722 | 27,835 |
Rio Tinto Ltd. | 1,643 | 123,233 |
Rio Tinto plc | 2,426 | 154,227 |
South32 Ltd. | 12,087 | 34,167 |
Wesfarmers Ltd. | 407 | 14,080 |
Westpac Banking Corp. | 7,130 | 106,730 |
Woodside Energy Group Ltd. | 5,640 | 127,973 |
Woolworths Group Ltd. | 768 | 19,812 |
1,443,099 | ||
Austria — 0.4% | ||
ANDRITZ AG | 510 | 33,122 |
BAWAG Group AG (a) | 314 | 15,315 |
Erste Group Bank AG | 965 | 35,087 |
OMV AG | 695 | 32,889 |
116,413 | ||
Belgium — 0.6% | ||
Ageas SA | 336 | 14,971 |
D'ieteren Group | 179 | 33,704 |
KBC Group NV | 1,743 | 124,604 |
173,279 | ||
Brazil — 0.1% | ||
MercadoLibre, Inc. * | 16 | 20,440 |
Canada — 0.6% | ||
Alimentation Couche-Tard, Inc. | 791 | 39,478 |
Canadian National Railway Co. | 500 | 59,601 |
Toronto-Dominion Bank (The) | 889 | 53,851 |
152,930 | ||
China — 0.6% | ||
BOC Hong Kong Holdings Ltd. | 4,000 | 12,627 |
Meituan * (a) | 207 | 3,538 |
Prosus NV | 347 | 25,967 |
INVESTMENTS | SHARES | VALUE($) |
China — continued | ||
Tencent Holdings Ltd. | 2,070 | 91,941 |
Yangzijiang Shipbuilding Holdings Ltd. | 33,100 | 30,867 |
164,940 | ||
Denmark — 4.2% | ||
Carlsberg A/S, Class B | 812 | 134,383 |
Coloplast A/S, Class B | 558 | 80,397 |
D/S Norden A/S | 433 | 27,208 |
Danske Bank A/S * | 445 | 9,405 |
DSV A/S | 55 | 10,351 |
Genmab A/S * | 207 | 85,070 |
ISS A/S | 1,279 | 26,741 |
Novo Nordisk A/S, Class B | 4,334 | 720,980 |
Solar A/S, Class B * | 259 | 21,189 |
Spar Nord Bank A/S | 940 | 15,290 |
Sydbank A/S | 296 | 13,206 |
Vestas Wind Systems A/S * | 278 | 7,693 |
1,151,913 | ||
Finland — 0.9% | ||
Fortum OYJ | 1,059 | 15,817 |
Kone OYJ, Class B | 621 | 35,428 |
Nokia OYJ | 11,395 | 48,214 |
Nordea Bank Abp | 9,460 | 105,094 |
Outokumpu OYJ | 4,466 | 24,347 |
TietoEVRY OYJ | 827 | 26,426 |
255,326 | ||
France — 13.8% | ||
Air Liquide SA | 1,400 | 251,846 |
Airbus SE | 428 | 59,935 |
AXA SA | 4,780 | 156,020 |
BNP Paribas SA | 2,842 | 183,631 |
Capgemini SE | 1,179 | 214,999 |
Carrefour SA | 1,799 | 37,420 |
Cie de Saint-Gobain | 1,315 | 76,132 |
Cie Generale des Etablissements Michelin SCA | 290 | 9,236 |
Dassault Systemes SE | 317 | 12,869 |
Eiffage SA | 304 | 36,183 |
Engie SA | 4,502 | 72,051 |
EssilorLuxottica SA | 106 | 20,986 |
IPSOS | 404 | 21,905 |
Kering SA | 145 | 92,853 |
Legrand SA | 326 | 30,857 |
L'Oreal SA | 725 | 346,490 |
LVMH Moet Hennessy Louis Vuitton SE | 698 | 671,393 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 25 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
France — continued | ||
Pernod Ricard SA | 517 | 119,401 |
Publicis Groupe SA | 622 | 50,853 |
Renault SA * | 925 | 34,357 |
Rexel SA | 1,056 | 24,461 |
Rothschild & Co. | 470 | 24,263 |
Safran SA | 1,452 | 225,815 |
Societe Generale SA | 1,535 | 37,283 |
Sopra Steria Group SACA | 83 | 17,967 |
Technip Energies NV | 1,422 | 31,548 |
Thales SA | 146 | 22,280 |
TotalEnergies SE | 7,283 | 465,383 |
Veolia Environnement SA | 1,688 | 53,451 |
Verallia SA (a) | 529 | 21,472 |
Vinci SA | 2,719 | 336,317 |
3,759,657 | ||
Germany — 8.3% | ||
adidas AG | 208 | 36,630 |
Allianz SE (Registered) | 1,398 | 351,047 |
Aurubis AG | 247 | 23,173 |
Bayer AG (Registered) | 685 | 45,207 |
Bayerische Motoren Werke AG | 655 | 73,415 |
Covestro AG * (a) | 225 | 9,871 |
Daimler Truck Holding AG * | 449 | 14,836 |
Deutsche Boerse AG | 808 | 154,093 |
Deutsche Lufthansa AG (Registered) * | 3,403 | 36,582 |
Deutsche Post AG (Registered) | 1,501 | 72,198 |
Deutsche Telekom AG (Registered) | 13,980 | 337,083 |
E.ON SE | 959 | 12,685 |
Infineon Technologies AG | 3,411 | 124,218 |
Mercedes-Benz Group AG | 1,383 | 107,855 |
Merck KGaA | 205 | 36,771 |
Muenchener Rueckversicherungs-Gesellschaft AG (Registered) | 467 | 175,511 |
RWE AG | 4,960 | 232,556 |
SAP SE | 757 | 102,434 |
Sartorius AG (Preference) | 55 | 21,378 |
Siemens AG (Registered) | 1,118 | 184,282 |
Volkswagen AG (Preference) | 536 | 73,191 |
Zalando SE * (a) | 819 | 33,685 |
2,258,701 | ||
Hong Kong — 1.9% | ||
AIA Group Ltd. | 23,600 | 256,935 |
CK Asset Holdings Ltd. | 3,500 | 20,696 |
Hong Kong Exchanges & Clearing Ltd. | 2,000 | 83,034 |
INVESTMENTS | SHARES | VALUE($) |
Hong Kong — continued | ||
Pacific Basin Shipping Ltd. | 37,000 | 12,874 |
Prudential plc | 5,207 | 79,673 |
Sun Hung Kai Properties Ltd. | 2,500 | 34,808 |
Techtronic Industries Co. Ltd. | 3,000 | 32,455 |
520,475 | ||
India — 0.4% | ||
HDFC Bank Ltd., ADR * | 1,514 | 105,677 |
Indonesia — 0.1% | ||
Bank Central Asia Tbk. PT | 37,500 | 23,207 |
Ireland — 0.3% | ||
Bank of Ireland Group plc | 1,500 | 15,514 |
CRH plc | 1,012 | 49,114 |
Kingspan Group plc | 340 | 23,562 |
88,190 | ||
Italy — 1.8% | ||
Assicurazioni Generali SpA | 1,866 | 38,865 |
Azimut Holding SpA | 933 | 20,840 |
Enel SpA | 5,031 | 34,372 |
Eni SpA | 3,126 | 47,226 |
Ferrari NV | 62 | 17,276 |
FinecoBank Banca Fineco SpA | 2,299 | 34,848 |
Iveco Group NV * | 2,768 | 24,906 |
Maire Tecnimont SpA | 6,010 | 25,793 |
OVS SpA (a) | 6,933 | 20,842 |
Pirelli & C SpA (a) | 5,337 | 27,955 |
Poste Italiane SpA (a) | 1,909 | 19,867 |
Prysmian SpA | 581 | 23,778 |
UniCredit SpA | 5,551 | 109,996 |
Unipol Gruppo SpA | 5,179 | 29,118 |
475,682 | ||
Japan — 17.8% | ||
Ajinomoto Co., Inc. | 1,200 | 43,157 |
Asahi Group Holdings Ltd. | 600 | 23,180 |
Asahi Kasei Corp. | 1,400 | 9,888 |
Bridgestone Corp. | 1,900 | 76,301 |
Central Japan Railway Co. | 200 | 24,760 |
Cosmo Energy Holdings Co. Ltd. | 1,300 | 41,560 |
Credit Saison Co. Ltd. | 2,000 | 27,710 |
Daiichi Sankyo Co. Ltd. | 1,500 | 51,472 |
Daikin Industries Ltd. | 900 | 163,468 |
Daiwa House Industry Co. Ltd. | 800 | 20,391 |
Denso Corp. | 300 | 18,109 |
26 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Japan — continued | ||
Dentsu Group, Inc. | 1,700 | 61,259 |
FANUC Corp. | 500 | 16,886 |
Fuji Electric Co. Ltd. | 600 | 24,219 |
Fujikura Ltd. | 3,100 | 21,136 |
Fujitsu Ltd. | 100 | 13,328 |
Fuyo General Lease Co. Ltd. | 400 | 29,274 |
Hikari Tsushin, Inc. | 100 | 13,645 |
Hitachi Ltd. | 2,100 | 116,161 |
Honda Motor Co. Ltd. | 2,500 | 66,308 |
Hoya Corp. | 1,900 | 199,225 |
Isuzu Motors Ltd. | 3,000 | 35,427 |
ITOCHU Corp. | 2,700 | 89,572 |
Japan Airlines Co. Ltd. | 2,100 | 40,061 |
Japan Post Holdings Co. Ltd. | 3,600 | 29,635 |
Japan Post Insurance Co. Ltd. | 2,000 | 32,478 |
Japan Tobacco, Inc. | 2,900 | 62,399 |
KDDI Corp. | 2,900 | 90,533 |
Keyence Corp. | 700 | 315,669 |
Konami Group Corp. | 100 | 4,920 |
Kyowa Kirin Co. Ltd. | 1,700 | 37,827 |
Lasertec Corp. | 100 | 13,605 |
Marubeni Corp. | 5,100 | 72,385 |
Mazda Motor Corp. | 2,900 | 26,244 |
Mitsubishi Corp. | 3,100 | 114,935 |
Mitsubishi Estate Co. Ltd. | 1,300 | 16,022 |
Mitsubishi UFJ Financial Group, Inc. | 27,300 | 170,885 |
Mitsui & Co. Ltd. | 2,700 | 84,291 |
Mitsui Fudosan Co. Ltd. | 1,800 | 35,752 |
Mizuho Financial Group, Inc. | 2,500 | 36,240 |
Murata Manufacturing Co. Ltd. | 400 | 22,694 |
NIDEC Corp. | 300 | 14,845 |
Nintendo Co. Ltd. | 1,000 | 42,277 |
Nippon Express Holdings, Inc. | 900 | 52,814 |
Nippon Steel Corp. | 2,700 | 57,665 |
Nippon Telegraph & Telephone Corp. | 6,100 | 186,135 |
Ono Pharmaceutical Co. Ltd. | 1,400 | 28,189 |
Oriental Land Co. Ltd. | 500 | 17,695 |
ORIX Corp. | 4,100 | 69,751 |
Otsuka Corp. | 300 | 10,920 |
Recruit Holdings Co. Ltd. | 4,000 | 112,214 |
Renesas Electronics Corp. * | 800 | 10,426 |
Rohm Co. Ltd. | 100 | 7,529 |
Sekisui House Ltd. | 1,900 | 39,061 |
Seven & i Holdings Co. Ltd. | 800 | 36,254 |
INVESTMENTS | SHARES | VALUE($) |
Japan — continued | ||
Shimano, Inc. | 200 | 30,931 |
Shin-Etsu Chemical Co. Ltd. | 8,500 | 242,555 |
Shionogi & Co. Ltd. | 200 | 8,953 |
SoftBank Corp. | 5,500 | 61,923 |
SoftBank Group Corp. | 600 | 22,501 |
Sojitz Corp. | 2,020 | 42,544 |
Sony Group Corp. | 3,700 | 334,753 |
Subaru Corp. | 2,000 | 32,644 |
Sumitomo Corp. | 2,600 | 46,599 |
Sumitomo Electric Industries Ltd. | 800 | 10,210 |
Sumitomo Forestry Co. Ltd. | 1,400 | 30,246 |
Sumitomo Metal Mining Co. Ltd. | 400 | 14,763 |
Sumitomo Mitsui Financial Group, Inc. | 3,700 | 151,232 |
Sumitomo Mitsui Trust Holdings, Inc. | 1,300 | 46,862 |
Sumitomo Warehouse Co. Ltd. (The) | 1,800 | 29,904 |
Suzuki Motor Corp. | 500 | 17,434 |
T&D Holdings, Inc. | 900 | 11,022 |
Takeda Pharmaceutical Co. Ltd. | 3,000 | 99,478 |
Terumo Corp. | 500 | 14,973 |
Tokio Marine Holdings, Inc. | 7,900 | 158,846 |
Tokyo Electron Ltd. | 1,500 | 171,758 |
Tokyu Fudosan Holdings Corp. | 5,700 | 28,926 |
Toyota Motor Corp. | 7,300 | 100,229 |
Toyota Tsusho Corp. | 1,000 | 41,567 |
Yamaha Motor Co. Ltd. | 800 | 20,745 |
4,850,384 | ||
Luxembourg — 0.2% | ||
ArcelorMittal SA * | 1,795 | 50,995 |
Macau — 0.1% | ||
Sands China Ltd. * | 5,200 | 18,623 |
Mexico — 0.1% | ||
Wal-Mart de Mexico SAB de CV | 3,113 | 12,548 |
Netherlands — 6.4% | ||
ABN AMRO Bank NV, CVA (a) | 712 | 11,411 |
Adyen NV * (a) | 30 | 48,206 |
Argenx SE * | 53 | 20,445 |
ASM International NV | 34 | 12,344 |
ASML Holding NV | 939 | 595,901 |
ASR Nederland NV | 670 | 29,468 |
Heijmans NV, CVA | 1,667 | 20,740 |
ING Groep NV | 6,811 | 84,472 |
Koninklijke Ahold Delhaize NV | 3,304 | 113,607 |
Koninklijke BAM Groep NV | 6,263 | 13,725 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 27 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Netherlands — continued | ||
Koninklijke KPN NV | 17,162 | 62,588 |
NN Group NV | 1,605 | 59,851 |
Randstad NV | 376 | 20,430 |
Shell plc | 16,220 | 498,411 |
Wolters Kluwer NV | 1,211 | 160,450 |
1,752,049 | ||
Norway — 0.7% | ||
DNB Bank ASA | 1,593 | 28,021 |
Elkem ASA (a) | 5,748 | 19,455 |
Equinor ASA | 2,432 | 70,020 |
Europris ASA (a) | 1,303 | 9,331 |
Norsk Hydro ASA | 4,447 | 32,726 |
SpareBank 1 Nord Norge | 2,576 | 23,322 |
182,875 | ||
Singapore — 1.1% | ||
DBS Group Holdings Ltd. | 9,000 | 222,390 |
Oversea-Chinese Banking Corp. Ltd. | 4,700 | 44,466 |
United Overseas Bank Ltd. | 900 | 19,114 |
285,970 | ||
South Africa — 0.5% | ||
Anglo American plc | 4,075 | 125,568 |
South Korea — 0.5% | ||
Delivery Hero SE * (a) | 799 | 31,937 |
Samsung Electronics Co. Ltd., GDR (a) | 84 | 104,087 |
136,024 | ||
Spain — 2.0% | ||
Banco Bilbao Vizcaya Argentaria SA | 15,899 | 116,396 |
Banco Santander SA | 10,780 | 37,871 |
CaixaBank SA | 3,786 | 14,014 |
Iberdrola SA | 21,988 | 284,923 |
Industria de Diseno Textil SA | 1,588 | 54,590 |
Repsol SA | 2,428 | 35,667 |
543,461 | ||
Sweden — 2.4% | ||
Assa Abloy AB, Class B | 2,602 | 61,995 |
Atlas Copco AB, Class A | 13,856 | 200,415 |
Boliden AB * | 1,828 | 65,327 |
Epiroc AB, Class A | 1,053 | 21,095 |
Loomis AB | 892 | 28,552 |
Securitas AB, Class B | 1,770 | 15,865 |
Skandinaviska Enskilda Banken AB, Class A | 2,030 | 23,082 |
SKF AB, Class B | 1,075 | 19,470 |
INVESTMENTS | SHARES | VALUE($) |
Sweden — continued | ||
SSAB AB, Class B | 3,491 | 23,596 |
Svenska Handelsbanken AB, Class A | 6,242 | 55,178 |
Volvo AB, Class B | 6,447 | 132,555 |
647,130 | ||
Switzerland — 5.1% | ||
ABB Ltd. (Registered) | 1,893 | 68,287 |
Cie Financiere Richemont SA (Registered) | 572 | 94,552 |
DSM-Firmenich AG * | 298 | 38,997 |
Julius Baer Group Ltd. | 899 | 64,419 |
Lonza Group AG (Registered) | 268 | 167,136 |
Mobilezone Holding AG (Registered) | 1,409 | 21,562 |
Novartis AG (Registered) | 4,732 | 484,055 |
SGS SA (Registered) | 475 | 42,985 |
Sika AG (Registered) | 218 | 60,217 |
Straumann Holding AG (Registered) | 259 | 38,967 |
Swiss Life Holding AG (Registered) | 66 | 43,564 |
Swisscom AG (Registered) | 36 | 24,716 |
UBS Group AG (Registered) * | 4,471 | 90,996 |
Zurich Insurance Group AG | 313 | 151,790 |
1,392,243 | ||
Taiwan — 0.4% | ||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 1,323 | 111,529 |
United Kingdom — 11.3% | ||
3i Group plc | 5,273 | 117,319 |
Ashtead Group plc | 426 | 24,562 |
AstraZeneca plc | 3,047 | 448,406 |
Aviva plc | 4,704 | 25,046 |
BAE Systems plc | 1,770 | 22,550 |
Balfour Beatty plc | 7,208 | 34,695 |
Barclays plc | 36,880 | 74,292 |
Barratt Developments plc | 2,609 | 16,414 |
Berkeley Group Holdings plc | 752 | 42,084 |
BP plc | 42,335 | 284,025 |
British American Tobacco plc | 1,503 | 55,529 |
Burberry Group plc | 664 | 21,674 |
Centrica plc | 36,512 | 52,466 |
CK Hutchison Holdings Ltd. | 7,000 | 46,798 |
CNH Industrial NV | 1,587 | 22,377 |
Compass Group plc | 1,312 | 34,612 |
Diageo plc | 6,251 | 285,146 |
Drax Group plc | 2,935 | 23,223 |
DS Smith plc | 3,868 | 15,102 |
HSBC Holdings plc | 23,891 | 172,191 |
28 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
United Kingdom — continued | ||
Imperial Brands plc | 891 | 22,056 |
Inchcape plc | 3,330 | 33,901 |
InterContinental Hotels Group plc | 1,131 | 77,764 |
Investec plc | 3,218 | 17,939 |
J Sainsbury plc | 6,967 | 24,210 |
JD Sports Fashion plc | 19,240 | 39,049 |
Legal & General Group plc | 10,531 | 31,072 |
Lloyds Banking Group plc | 184,078 | 111,831 |
London Stock Exchange Group plc | 971 | 101,948 |
Man Group plc | 7,905 | 22,608 |
Mitie Group plc | 26,709 | 30,922 |
NatWest Group plc | 11,354 | 37,401 |
OSB Group plc | 4,907 | 30,724 |
Reckitt Benckiser Group plc | 1,004 | 81,133 |
RELX plc | 6,991 | 232,931 |
Spirax-Sarco Engineering plc | 71 | 9,922 |
SSE plc | 1,822 | 42,039 |
Standard Chartered plc | 6,118 | 48,474 |
Tesco plc | 21,324 | 75,390 |
Unilever plc | 2,462 | 137,089 |
WPP plc | 3,313 | 38,611 |
3,065,525 | ||
United States — 8.6% | ||
CSL Ltd. | 337 | 67,278 |
GSK plc | 6,147 | 110,850 |
Linde plc | 356 | 130,805 |
Nestle SA (Registered) | 6,349 | 814,510 |
Roche Holding AG | 1,798 | 563,026 |
Sanofi | 1,320 | 142,254 |
Schneider Electric SE | 1,847 | 322,102 |
Stellantis NV | 10,284 | 170,576 |
Tenaris SA | 1,580 | 22,602 |
2,344,003 | ||
Total Common Stocks (Cost $25,384,052) | 26,228,856 | |
Short-Term Investments — 2.6% | ||
Investment Companies — 2.6% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (b) (c)(Cost $715,865) | 715,865 | 715,865 |
INVESTMENTS | SHARES | VALUE($) |
Total Investments — 99.1% (Cost $26,099,917) | 26,944,721 | |
Other Assets Less Liabilities — 0.9% | 245,168 | |
NET ASSETS — 100.0% | 27,189,889 |
Percentages indicated are based on net assets. |
Abbreviations | |
ADR | American Depositary Receipt |
CVA | Dutch Certification |
GDR | Global Depositary Receipt |
OYJ | Public Limited Company |
Preference | A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference shares may also have liquidation preference. |
PT | Limited liability company |
REIT | Real Estate Investment Trust |
SCA | Limited partnership with share capital |
* | Non-income producing security. |
(a) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of April 30, 2023. |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 29 |
AS OF April 30, 2023 (Unaudited) (continued)
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Pharmaceuticals | 10.5 % |
Banks | 9.9 |
Insurance | 6.5 |
Oil, Gas & Consumable Fuels | 5.9 |
Metals & Mining | 4.9 |
Semiconductors & Semiconductor Equipment | 3.9 |
Textiles, Apparel & Luxury Goods | 3.5 |
Food Products | 3.2 |
Automobiles | 2.9 |
Capital Markets | 2.7 |
Chemicals | 2.7 |
Diversified Telecommunication Services | 2.3 |
Machinery | 2.2 |
Professional Services | 2.1 |
Beverages | 2.1 |
Trading Companies & Distributors | 2.1 |
Electrical Equipment | 1.9 |
Personal Care Products | 1.8 |
Construction & Engineering | 1.7 |
Household Durables | 1.7 |
Electric Utilities | 1.4 |
Industrial Conglomerates | 1.3 |
Consumer Staples Distribution & Retail | 1.3 |
Health Care Equipment & Supplies | 1.3 |
Electronic Equipment, Instruments & Components | 1.3 |
Aerospace & Defense | 1.2 |
Building Products | 1.2 |
IT Services | 1.1 |
Others (each less than 1.0%) | 12.7 |
Short-Term Investments | 2.7 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
MSCI EAFE E-Mini Index | 6 | 06/16/2023 | USD | 645,060 | 40,118 |
Abbreviations | |
EAFE | Europe, Australasia and Far East |
MSCI | Morgan Stanley Capital International |
USD | United States Dollar |
30 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 97.6% | ||
Australia — 1.5% | ||
IDP Education Ltd. | 17,403 | 326,946 |
Woodside Energy Group Ltd. | 44,860 | 1,017,889 |
1,344,835 | ||
Brazil — 1.6% | ||
MercadoLibre, Inc. * | 711 | 908,296 |
NU Holdings Ltd., Class A * | 103,877 | 536,005 |
1,444,301 | ||
Canada — 5.3% | ||
Alimentation Couche-Tard, Inc. | 26,036 | 1,299,446 |
Canadian National Railway Co. | 18,266 | 2,177,332 |
Canadian Pacific Kansas City Ltd. | 18,068 | 1,424,263 |
4,901,041 | ||
China — 7.0% | ||
ANTA Sports Products Ltd. | 56,600 | 703,324 |
NXP Semiconductors NV | 4,803 | 786,443 |
Silergy Corp. | 44,000 | 694,511 |
Tencent Holdings Ltd. | 76,600 | 3,402,275 |
Yum China Holdings, Inc. | 13,900 | 850,659 |
6,437,212 | ||
Denmark — 4.8% | ||
Coloplast A/S, Class B | 4,672 | 673,146 |
Genmab A/S * | 2,004 | 823,573 |
Novo Nordisk A/S, Class B | 17,875 | 2,973,587 |
4,470,306 | ||
France — 11.1% | ||
Air Liquide SA | 9,635 | 1,733,243 |
L'Oreal SA | 3,378 | 1,614,404 |
LVMH Moet Hennessy Louis Vuitton SE | 3,603 | 3,465,659 |
Safran SA | 11,198 | 1,741,510 |
Vinci SA | 13,159 | 1,627,652 |
10,182,468 | ||
Germany — 3.7% | ||
Beiersdorf AG | 2,710 | 378,396 |
Deutsche Boerse AG | 9,226 | 1,759,478 |
Infineon Technologies AG | 21,544 | 784,563 |
Zalando SE * (a) | 11,713 | 481,749 |
3,404,186 | ||
Hong Kong — 2.9% | ||
AIA Group Ltd. | 178,000 | 1,937,899 |
Hong Kong Exchanges & Clearing Ltd. | 17,500 | 726,546 |
2,664,445 |
INVESTMENTS | SHARES | VALUE($) |
India — 2.3% | ||
HDFC Bank Ltd., ADR * | 16,615 | 1,159,727 |
Infosys Ltd., ADR | 48,369 | 751,654 |
WNS Holdings Ltd., ADR * | 2,872 | 258,968 |
2,170,349 | ||
Indonesia — 2.7% | ||
Bank Central Asia Tbk. PT | 2,401,400 | 1,486,110 |
Telkom Indonesia Persero Tbk. PT, ADR | 36,031 | 1,037,693 |
2,523,803 | ||
Italy — 0.7% | ||
Ferrari NV | 2,281 | 635,597 |
Japan — 11.1% | ||
Ajinomoto Co., Inc. | 25,500 | 917,091 |
Daikin Industries Ltd. | 6,900 | 1,253,254 |
Hoya Corp. | 12,700 | 1,331,659 |
Keyence Corp. | 4,700 | 2,119,495 |
Recruit Holdings Co. Ltd. | 37,700 | 1,057,621 |
Shin-Etsu Chemical Co. Ltd. | 51,500 | 1,469,595 |
Sony Group Corp. | 22,500 | 2,035,659 |
10,184,374 | ||
Mexico — 2.0% | ||
Grupo Aeroportuario del Sureste SAB de CV, ADR | 2,440 | 698,621 |
Wal-Mart de Mexico SAB de CV | 278,038 | 1,120,688 |
1,819,309 | ||
Netherlands — 5.8% | ||
Adyen NV * (a) | 497 | 798,605 |
Argenx SE * | 1,628 | 627,998 |
Argenx SE * | 26 | 10,136 |
ASML Holding NV | 4,354 | 2,763,104 |
Wolters Kluwer NV | 8,471 | 1,122,354 |
5,322,197 | ||
Singapore — 1.3% | ||
DBS Group Holdings Ltd. | 50,100 | 1,237,969 |
South Africa — 0.9% | ||
Anglo American plc | 26,340 | 811,645 |
South Korea — 0.7% | ||
Delivery Hero SE * (a) | 8,826 | 352,786 |
LG Chem Ltd. | 609 | 338,289 |
691,075 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 31 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Spain — 1.4% | ||
Iberdrola SA | 52,869 | 685,082 |
Industria de Diseno Textil SA | 18,514 | 636,451 |
1,321,533 | ||
Sweden — 3.3% | ||
Atlas Copco AB, Class A | 95,027 | 1,374,482 |
Epiroc AB, Class A | 40,911 | 819,573 |
Evolution AB (a) | 6,104 | 815,546 |
3,009,601 | ||
Switzerland — 1.6% | ||
Cie Financiere Richemont SA (Registered) | 3,305 | 546,319 |
Lonza Group AG (Registered) | 1,502 | 936,708 |
1,483,027 | ||
Taiwan — 4.2% | ||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 45,490 | 3,834,807 |
United Kingdom — 11.8% | ||
3i Group plc | 43,507 | 967,989 |
AstraZeneca plc | 18,102 | 2,663,944 |
Diageo plc | 43,398 | 1,979,648 |
InterContinental Hotels Group plc | 14,449 | 993,465 |
London Stock Exchange Group plc | 14,614 | 1,534,372 |
Oxford Nanopore Technologies plc * | 32,999 | 95,213 |
RELX plc | 58,402 | 1,942,963 |
Spirax-Sarco Engineering plc | 4,656 | 650,630 |
10,828,224 | ||
United States — 9.9% | ||
Cadence Design Systems, Inc. * | 4,303 | 901,263 |
ExlService Holdings, Inc. * | 1,648 | 293,970 |
Linde plc | 4,974 | 1,827,590 |
Nestle SA (Registered) | 29,215 | 3,747,980 |
Roche Holding AG | 7,513 | 2,352,623 |
9,123,426 | ||
Total Common Stocks (Cost $81,776,867) | 89,845,730 | |
Short-Term Investments — 2.2% | ||
Investment Companies — 2.2% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (b) (c)(Cost $2,017,691) | 2,017,691 | 2,017,691 |
INVESTMENTS | SHARES | VALUE($) |
Total Investments — 99.8% (Cost $83,794,558) | 91,863,421 | |
Other Assets Less Liabilities — 0.2% | 143,213 | |
NET ASSETS — 100.0% | 92,006,634 |
Percentages indicated are based on net assets. |
Abbreviations | |
ADR | American Depositary Receipt |
PT | Limited liability company |
* | Non-income producing security. |
(a) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of April 30, 2023. |
32 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Semiconductors & Semiconductor Equipment | 9.6 % |
Pharmaceuticals | 8.7 |
Chemicals | 5.8 |
Capital Markets | 5.4 |
Textiles, Apparel & Luxury Goods | 5.1 |
Professional Services | 5.1 |
Food Products | 5.1 |
Banks | 4.8 |
Ground Transportation | 3.9 |
Interactive Media & Services | 3.7 |
Hotels, Restaurants & Leisure | 3.3 |
Machinery | 3.1 |
Consumer Staples Distribution & Retail | 2.6 |
Electronic Equipment, Instruments & Components | 2.3 |
Household Durables | 2.2 |
Health Care Equipment & Supplies | 2.2 |
Personal Care Products | 2.2 |
Beverages | 2.2 |
Insurance | 2.1 |
Aerospace & Defense | 1.9 |
Construction & Engineering | 1.8 |
Biotechnology | 1.6 |
Building Products | 1.4 |
Specialty Retail | 1.2 |
Diversified Telecommunication Services | 1.1 |
Life Sciences Tools & Services | 1.1 |
Oil, Gas & Consumable Fuels | 1.1 |
Broadline Retail | 1.0 |
Software | 1.0 |
Others (each less than 1.0%) | 5.2 |
Short-Term Investments | 2.2 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 33 |
AS OF April 30, 2023 (Unaudited)
JPMorgan Active China ETF | JPMorgan ActiveBuilders Emerging Markets Equity ETF | JPMorgan ActiveBuilders International Equity ETF | JPMorgan International Growth ETF | |
ASSETS: | ||||
Investments in non-affiliates, at value | $12,221,097 | $887,181,792 | $26,228,856 | $89,845,730 |
Investments in affiliates, at value | 155,538 | 2,625,587 | 715,865 | 2,017,691 |
Cash | 684 | 1,761,815 | 57,133 | 99,146 |
Foreign currency, at value | 37,003 | 344,788 | 3,502 | 143,185 |
Deposits at broker for futures contracts | — | — | 25,196 | — |
Receivables: | ||||
Investment securities sold | — | 61,144 | — | 514,443 |
Dividends from non-affiliates | — | 1,582,549 | 111,555 | 131,474 |
Dividends from affiliates | 21 | 364 | 94 | 137 |
Tax reclaims | — | 43,005 | 53,594 | 108,593 |
Securities lending income (See Note 2.C.) | — | — | 35 | 840 |
Total Assets | 12,414,343 | 893,601,044 | 27,195,830 | 92,861,239 |
LIABILITIES: | ||||
Payables: | ||||
Investment securities purchased | 676 | 22,337 | — | 813,273 |
Variation margin on futures contracts | — | — | 451 | — |
Accrued liabilities: | ||||
Management fees (See Note 3.A.) | 6,687 | 243,215 | 5,490 | 41,332 |
Deferred foreign capital gains tax | — | 284,970 | — | — |
Other | — | 1,400 | — | — |
Total Liabilities | 7,363 | 551,922 | 5,941 | 854,605 |
Net Assets | $12,406,980 | $893,049,122 | $27,189,889 | $92,006,634 |
NET ASSETS: | ||||
Paid-in-Capital | $12,694,661 | $1,085,851,528 | $28,789,940 | $96,783,908 |
Total distributable earnings (loss) | (287,681 ) | (192,802,406 ) | (1,600,051 ) | (4,777,274 ) |
Total Net Assets | $12,406,980 | $893,049,122 | $27,189,889 | $92,006,634 |
Outstanding number of shares (unlimited number of shares authorized - par value $0.0001) | 260,000 | 25,100,000 | 600,000 | 1,575,000 |
Net asset value, per share | $47.72 | $35.58 | $45.32 | $58.42 |
Cost of investments in non-affiliates | $12,501,452 | $966,030,035 | $25,384,052 | $81,776,867 |
Cost of investments in affiliates | 155,553 | 2,625,587 | 715,865 | 2,017,691 |
Cost of foreign currency | 37,181 | 344,850 | 3,402 | 143,190 |
34 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
FOR THE SIX MONTHS ENDED April 30, 2023 (Unaudited)
JPMorgan Active China ETF (a) | JPMorgan ActiveBuilders Emerging Markets Equity ETF | JPMorgan ActiveBuilders International Equity ETF | JPMorgan International Growth ETF | |
INVESTMENT INCOME: | ||||
Interest income from non-affiliates | $— | $95 | $411 | $47 |
Interest income from affiliates | 4 | 8,471 | 370 | 402 |
Dividend income from non-affiliates | 4,681 | 11,608,233 | 484,917 | 805,829 |
Dividend income from affiliates | 1,839 | 102,339 | 6,753 | 32,822 |
Income from securities lending (net) (See Note 2.C.) | — | 128 | 208 | 970 |
Foreign taxes withheld (net) | — | (1,281,539 ) | (56,596 ) | (74,774 ) |
Total investment income | 6,524 | 10,437,727 | 436,063 | 765,296 |
EXPENSES: | ||||
Management fees (See Note 3.A.) | 9,593 | 1,610,617 | 31,591 | 199,717 |
Interest expense to affiliates | — | 9,595 | 3 | — |
Total expenses | 9,593 | 1,620,212 | 31,594 | 199,717 |
Net investment income (loss) | (3,069 ) | 8,817,515 | 404,469 | 565,579 |
REALIZED/UNREALIZED GAINS (LOSSES): | ||||
Net realized gain (loss) on transactions from: | ||||
Investments in non-affiliates | (8,800 ) | (62,870,510 ) | (768,456 ) | (3,300,704 ) |
Investments in affiliates | (562 ) | 9,359 | — | — |
In-kind redemptions of investments in non-affiliates (See Note 4) | — | 10,864,802 | — | — |
Futures contracts | — | — | (3,746 ) | — |
Foreign currency transactions | 5,298 | (295,836 ) | 4,528 | 6,058 |
Net realized gain (loss) | (4,064 ) | (52,292,185 ) | (767,674 ) | (3,294,646 ) |
Change in net unrealized appreciation/depreciation on: | ||||
Investments in non-affiliates | (280,355 ) | 210,510,696 (b) | 5,851,098 | 16,771,014 |
Investments in affiliates | (15 ) | 227 | — | — |
Futures contracts | — | — | 40,118 | — |
Foreign currency translations | (178 ) | 12,017 | 4,196 | 11,287 |
Change in net unrealized appreciation/depreciation | (280,548 ) | 210,522,940 | 5,895,412 | 16,782,301 |
Net realized/unrealized gains (losses) | (284,612 ) | 158,230,755 | 5,127,738 | 13,487,655 |
Change in net assets resulting from operations | $(287,681 ) | $167,048,270 | $5,532,207 | $14,053,234 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 35 |
FOR THE PERIODS INDICATED
JPMorgan Active China ETF | JPMorgan ActiveBuilders Emerging Markets Equity ETF | ||
Period Ended April 30, 2023 (Unaudited)(a) | Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, 2022 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | |||
Net investment income (loss) | $(3,069 ) | $8,817,515 | $22,556,173 |
Net realized gain (loss) | (4,064 ) | (52,292,185 ) | (63,193,216 ) |
Change in net unrealized appreciation/depreciation | (280,548 ) | 210,522,940 | (276,748,688 ) |
Change in net assets resulting from operations | (287,681 ) | 167,048,270 | (317,385,731 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | |||
Total distributions to shareholders | — | (26,488,020 ) | (5,165,856 ) |
CAPITAL TRANSACTIONS: | |||
Change in net assets resulting from capital transactions | 12,694,661 | (154,665,254 ) | 903,841,753 |
NET ASSETS: | |||
Change in net assets | 12,406,980 | (14,105,004 ) | 581,290,166 |
Beginning of year | — | 907,154,126 | 325,863,960 |
End of period | $12,406,980 | $893,049,122 | $907,154,126 |
CAPITAL TRANSACTIONS: | |||
Proceeds from shares issued | $12,694,661 | $52,096,465 | $903,841,753 |
Cost of shares redeemed | — | (206,761,719 ) | — |
Total change in net assets resulting from capital transactions | $12,694,661 | $(154,665,254 ) | $903,841,753 |
SHARE TRANSACTIONS: | |||
Issued | 260,000 | 1,600,000 | 22,400,000 |
Redeemed | — | (5,700,000 ) | — |
Net increase (decrease) in shares from share transactions | 260,000 | (4,100,000 ) | 22,400,000 |
36 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
JPMorgan ActiveBuilders International Equity ETF | JPMorgan International Growth ETF | |||
Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, 2022 | Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, 2022 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $404,469 | $713,901 | $565,579 | $448,870 |
Net realized gain (loss) | (767,674 ) | (1,880,945 ) | (3,294,646 ) | (9,022,413 ) |
Change in net unrealized appreciation/depreciation | 5,895,412 | (5,506,656 ) | 16,782,301 | (19,659,292 ) |
Change in net assets resulting from operations | 5,532,207 | (6,673,700 ) | 14,053,234 | (28,232,835 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Total distributions to shareholders | (769,194 ) | (319,380 ) | (548,251 ) | (823,639 ) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | — | — | 23,519,546 | 22,746,629 |
NET ASSETS: | ||||
Change in net assets | 4,763,013 | (6,993,080 ) | 37,024,529 | (6,309,845 ) |
Beginning of year | 22,426,876 | 29,419,956 | 54,982,105 | 61,291,950 |
End of period | $27,189,889 | $22,426,876 | $92,006,634 | $54,982,105 |
CAPITAL TRANSACTIONS: | ||||
Proceeds from shares issued | — | — | 23,519,546 | 29,268,696 |
Cost of shares redeemed | — | — | — | (6,522,067 ) |
Total change in net assets resulting from capital transactions | $— | $— | $23,519,546 | $22,746,629 |
SHARE TRANSACTIONS: | ||||
Issued | — | — | 425,000 | 500,000 |
Redeemed | — | — | — | (125,000 ) |
Net increase (decrease) in shares from share transactions | — | — | 425,000 | 375,000 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 37 |
FOR THE PERIODS INDICATED
Per share operating performance | |||||||
Investment operations | Distributions | ||||||
Net asset value, beginning of period | Net investment income (loss) (b) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | Net realized gain | Total distributions | |
JPMorgan Active China ETF | |||||||
March 15, 2023 (f) through April 30, 2023 (Unaudited) | $48.00 | $(0.01 ) | $(0.27 ) | $(0.28 ) | $— | $— | $— |
JPMorgan ActiveBuilders Emerging Markets Equity ETF | |||||||
Six Months Ended April 30, 2023 (Unaudited) | 31.07 | 0.32 | 5.10 | 5.42 | (0.91 ) | — | (0.91 ) |
Year Ended October 31, 2022 | 47.92 | 1.14 | (17.27 ) | (16.13 ) | (0.63 ) | (0.09 ) | (0.72 ) |
March 10, 2021 (f) through October 31, 2021 | 48.00 | 0.66 | (0.74 ) | (0.08 ) | — | — | — |
JPMorgan ActiveBuilders International Equity ETF | |||||||
Six Months Ended April 30, 2023 (Unaudited) | 37.38 | 0.67 | 8.55 | 9.22 | (1.28 ) | — | (1.28 ) |
Year Ended October 31, 2022 | 49.03 | 1.19 | (12.31 ) | (11.12 ) | (0.53 ) | — | (0.53 ) |
July 7, 2021 (f) through October 31, 2021 | 48.00 | 0.35 | 0.68 | 1.03 | — | — | — |
JPMorgan International Growth ETF | |||||||
Six Months Ended April 30, 2023 (Unaudited) | 47.81 | 0.43 | 10.66 | 11.09 | (0.48 ) | — | (0.48 ) |
Year Ended October 31, 2022 | 79.09 | 0.44 | (30.69 ) | (30.25 ) | (0.49 ) | (0.54 ) | (1.03 ) |
Year Ended October 31, 2021 | 62.98 | 0.19 | 15.95 | 16.14 | (0.03 ) | — | (0.03 ) |
May 20, 2020 (f) through October 31, 2020 | 51.83 | 0.05 | 11.10 | 11.15 | — | — | — |
(a) | Annualized for periods less than one year, unless otherwise noted. |
(b) | Calculated based upon average shares outstanding. |
(c) | Not annualized for periods less than one year. |
(d) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(e) | Market price return was calculated assuming an initial investment made at the market price at the beginning of the reporting period, reinvestment of all dividends and distributions at market price during the period and sale at the market price on the last day of the period. The price used to calculate the market price return was the closing price on the listing exchange of the Fund. |
(f) | Commencement of operations. |
(g) | Since the Shares of the Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from the inception to the first day of secondary market trading, the net asset value is used as a proxy for the secondary market trading price to calculate the market returns. |
(h) | Does not include expenses of unaffiliated Underlying Funds. |
38 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
Ratios/Supplemental data | ||||||||
Ratios to average net assets (a) | ||||||||
Net asset value, end of period | Market price, end of period | Total return (c)(d) | Market price total return (c)(e) | Net assets, end of period | Net expenses | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate (c) |
$47.72 | $47.81 | (0.58 )% | (0.40 )%(g) | $12,406,980 | 0.64 % | (0.21 )% | 0.64 % | 3 % |
35.58 | 35.78 | 17.58 | 17.95 | 893,049,122 | 0.33 | 1.80 | 0.33 | 17 |
31.07 | 31.15 | (34.15 ) | (34.32 ) | 907,154,126 | 0.33 | 3.05 | 0.33 | 28 |
47.92 | 48.17 | (0.17 ) | 0.35 (g) | 325,863,960 | 0.30 (h) | 2.11 | 0.33 (h) | 40 |
45.32 | 45.40 | 25.08 | 25.37 | 27,189,889 | 0.25 | 3.18 | 0.25 | 12 |
37.38 | 37.36 | (22.91 ) | (23.23 ) | 22,426,876 | 0.25 | 2.77 | 0.25 | 28 |
49.03 | 49.21 | 2.15 | 2.52 (g) | 29,419,956 | 0.25 | 2.23 | 0.25 | 9 |
58.42 | 58.56 | 23.30 | 23.62 | 92,006,634 | 0.55 | 1.55 | 0.55 | 27 |
47.81 | 47.80 | (38.72 ) | (38.97 ) | 54,982,105 | 0.55 | 0.75 | 0.55 | 32 |
79.09 | 79.40 | 25.63 | 25.85 | 61,291,950 | 0.55 | 0.25 | 0.55 | 37 |
62.98 | 63.12 | 21.51 | 21.78 (g) | 37,787,658 | 0.55 | 0.16 | 0.55 | 12 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 39 |
AS OF April 30, 2023 (Unaudited)
Diversification Classification | |
JPMorgan Active China ETF | Non-Diversified |
JPMorgan ActiveBuilders Emerging Markets Equity ETF | Diversified |
JPMorgan ActiveBuilders International Equity ETF | Diversified |
JPMorgan International Growth ETF | Diversified |
Listing Exchange | |
Active China ETF | NYSE Arca |
ActiveBuilders Emerging Markets Equity ETF | Cboe BZX Exchange, Inc. |
ActiveBuilders International Equity ETF | NYSE Arca |
International Growth ETF | NYSE Arca |
40 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
Active China ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | ||||
Automobile Components | $— | $173,765 | $— | $173,765 |
Banks | — | 913,154 | — | 913,154 |
Beverages | — | 652,746 | — | 652,746 |
Broadline Retail | — | 785,495 | — | 785,495 |
Building Products | — | 84,159 | — | 84,159 |
Chemicals | — | 447,925 | — | 447,925 |
Consumer Staples Distribution & Retail | — | 158,520 | — | 158,520 |
Electronic Equipment, Instruments & Components | — | 401,476 | — | 401,476 |
Entertainment | — | 370,290 | — | 370,290 |
Food Products | — | 601,824 | — | 601,824 |
Gas Utilities | — | 417,468 | — | 417,468 |
Health Care Equipment & Supplies | — | 279,693 | — | 279,693 |
Health Care Providers & Services | — | 271,901 | — | 271,901 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 41 |
AS OF April 30, 2023 (Unaudited) (continued)
Active China ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Hotels, Restaurants & Leisure | $148,907 | $410,171 | $— | $559,078 |
Household Durables | — | 640,757 | — | 640,757 |
Independent Power and Renewable Electricity Producers | — | 269,087 | — | 269,087 |
Insurance | — | 705,405 | — | 705,405 |
Interactive Media & Services | 116,025 | 1,217,001 | — | 1,333,026 |
Life Sciences Tools & Services | — | 181,867 | — | 181,867 |
Machinery | — | 498,103 | — | 498,103 |
Media | — | 110,745 | — | 110,745 |
Metals & Mining | — | 305,969 | — | 305,969 |
Oil, Gas & Consumable Fuels | — | 311,978 | — | 311,978 |
Pharmaceuticals | — | 219,374 | — | 219,374 |
Real Estate Management & Development | 203,123 | — | — | 203,123 |
Semiconductors & Semiconductor Equipment | — | 665,851 | — | 665,851 |
Software | — | 502,714 | — | 502,714 |
Textiles, Apparel & Luxury Goods | — | 155,604 | — | 155,604 |
Total Common Stocks | 468,055 | 11,753,042 | — | 12,221,097 |
Short-Term Investments | ||||
Investment Companies | 155,538 | — | — | 155,538 |
Total Investments in Securities | $623,593 | $11,753,042 | $— | $12,376,635 |
ActiveBuilders Emerging Markets Equity ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | ||||
Australia | $— | $690,676 | $— | $690,676 |
Brazil | 51,565,945 | — | — | 51,565,945 |
Canada | 719,132 | — | — | 719,132 |
Chile | 3,858,393 | — | — | 3,858,393 |
China | 12,177,926 | 256,327,747 | — | 268,505,673 |
Czech Republic | — | 369,221 | — | 369,221 |
Ghana | 525,632 | — | — | 525,632 |
Greece | — | 2,628,461 | — | 2,628,461 |
Hong Kong | — | 15,476,711 | — | 15,476,711 |
Hungary | — | 2,615,557 | — | 2,615,557 |
India | 12,897,117 | 98,079,030 | — | 110,976,147 |
Indonesia | — | 22,623,923 | — | 22,623,923 |
Kuwait | — | 896,075 | — | 896,075 |
Macau | — | 1,035,747 | — | 1,035,747 |
Malaysia | — | 3,815,550 | — | 3,815,550 |
Mexico | 40,817,096 | — | — | 40,817,096 |
Nigeria | — | 178,408 | — | 178,408 |
Panama | 483,844 | — | — | 483,844 |
Peru | 2,213,472 | — | — | 2,213,472 |
Philippines | — | 1,635,495 | — | 1,635,495 |
Poland | — | 6,664,408 | — | 6,664,408 |
Portugal | — | 2,157,284 | — | 2,157,284 |
42 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
ActiveBuilders Emerging Markets Equity ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Qatar | $— | $5,035,123 | $— | $5,035,123 |
Russia | — | — | 162,535 | 162,535 |
Saudi Arabia | 554,481 | 21,525,526 | — | 22,080,007 |
Singapore | 1,244,465 | — | — | 1,244,465 |
South Africa | 15,119,962 | 19,569,635 | — | 34,689,597 |
South Korea | 484,364 | 110,749,916 | — | 111,234,280 |
Taiwan | — | 136,801,267 | — | 136,801,267 |
Thailand | 8,103,169 | 7,151,102 | — | 15,254,271 |
United Arab Emirates | 4,379,186 | 5,521,555 | — | 9,900,741 |
United States | 7,417,877 | 2,200,740 | — | 9,618,617 |
Zambia | 704,760 | — | — | 704,760 |
Total Common Stocks | 163,266,821 | 723,749,157 | 162,535 | 887,178,513 |
Rights | 3,279 | — | — | 3,279 |
Short-Term Investments | ||||
Investment Companies | 2,625,587 | — | — | 2,625,587 |
Total Investments in Securities | $165,895,687 | $723,749,157 | $162,535 | $889,807,379 |
ActiveBuilders International Equity ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | ||||
Australia | $— | $1,443,099 | $— | $1,443,099 |
Austria | — | 116,413 | — | 116,413 |
Belgium | — | 173,279 | — | 173,279 |
Brazil | 20,440 | — | — | 20,440 |
Canada | 152,930 | — | — | 152,930 |
China | — | 164,940 | — | 164,940 |
Denmark | — | 1,151,913 | — | 1,151,913 |
Finland | — | 255,326 | — | 255,326 |
France | 24,263 | 3,735,394 | — | 3,759,657 |
Germany | — | 2,258,701 | — | 2,258,701 |
Hong Kong | — | 520,475 | — | 520,475 |
India | 105,677 | — | — | 105,677 |
Indonesia | — | 23,207 | — | 23,207 |
Ireland | — | 88,190 | — | 88,190 |
Italy | — | 475,682 | — | 475,682 |
Japan | — | 4,850,384 | — | 4,850,384 |
Luxembourg | — | 50,995 | — | 50,995 |
Macau | — | 18,623 | — | 18,623 |
Mexico | 12,548 | — | — | 12,548 |
Netherlands | — | 1,752,049 | — | 1,752,049 |
Norway | — | 182,875 | — | 182,875 |
Singapore | — | 285,970 | — | 285,970 |
South Africa | — | 125,568 | — | 125,568 |
South Korea | — | 136,024 | — | 136,024 |
Spain | — | 543,461 | — | 543,461 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 43 |
AS OF April 30, 2023 (Unaudited) (continued)
ActiveBuilders International Equity ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Sweden | $— | $647,130 | $— | $647,130 |
Switzerland | 38,997 | 1,353,246 | — | 1,392,243 |
Taiwan | 111,529 | — | — | 111,529 |
United Kingdom | 80,295 | 2,985,230 | — | 3,065,525 |
United States | 130,805 | 2,213,198 | — | 2,344,003 |
Total Common Stocks | 677,484 | 25,551,372 | — | 26,228,856 |
Short-Term Investments | ||||
Investment Companies | 715,865 | — | — | 715,865 |
Total Investments in Securities | $1,393,349 | $25,551,372 | $— | $26,944,721 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts | $40,118 | $— | $— | $40,118 |
International Growth ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | ||||
Australia | $— | $1,344,835 | $— | $1,344,835 |
Brazil | 1,444,301 | — | — | 1,444,301 |
Canada | 4,901,041 | — | — | 4,901,041 |
China | 786,443 | 5,650,769 | — | 6,437,212 |
Denmark | — | 4,470,306 | — | 4,470,306 |
France | — | 10,182,468 | — | 10,182,468 |
Germany | — | 3,404,186 | — | 3,404,186 |
Hong Kong | — | 2,664,445 | — | 2,664,445 |
India | 2,170,349 | — | — | 2,170,349 |
Indonesia | 1,037,693 | 1,486,110 | — | 2,523,803 |
Italy | — | 635,597 | — | 635,597 |
Japan | — | 10,184,374 | — | 10,184,374 |
Mexico | 1,819,309 | — | — | 1,819,309 |
Netherlands | 10,136 | 5,312,061 | — | 5,322,197 |
Singapore | — | 1,237,969 | — | 1,237,969 |
South Africa | — | 811,645 | — | 811,645 |
South Korea | — | 691,075 | — | 691,075 |
Spain | — | 1,321,533 | — | 1,321,533 |
Sweden | — | 3,009,601 | — | 3,009,601 |
Switzerland | — | 1,483,027 | — | 1,483,027 |
Taiwan | 3,834,807 | — | — | 3,834,807 |
United Kingdom | — | 10,828,224 | — | 10,828,224 |
United States | 3,022,823 | 6,100,603 | — | 9,123,426 |
Total Common Stocks | 19,026,902 | 70,818,828 | — | 89,845,730 |
Short-Term Investments | ||||
Investment Companies | 2,017,691 | — | — | 2,017,691 |
Total Investments in Securities | $21,044,593 | $70,818,828 | $— | $91,863,421 |
44 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
ActiveBuilders Emerging Markets Equity ETF | $3 |
ActiveBuilders International Equity ETF | 22 |
International Growth ETF | 100 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 45 |
AS OF April 30, 2023 (Unaudited) (continued)
Active China ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at March 15, 2023(a) | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 4.95% (b) (c) | $— | $11,077,994 | $10,921,879 | $(562 ) | $(15 ) | $155,538 | 155,491 | $1,839 | $— |
(a) | Commencement of operations was March 15, 2023. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of April 30, 2023. |
ActiveBuilders Emerging Markets Equity ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 4.95% (a) (b) | $3,448,509 | $100,154,168 | $100,986,676 | $9,359 | $227 | $2,625,587 | 2,624,800 | $102,339 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
ActiveBuilders International Equity ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | $316,955 | $1,823,301 | $1,424,391 | $— | $— | $715,865 | 715,865 | $6,753 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
46 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
International Growth ETF | |||||||||
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | $749,113 | $1,156,350 | $1,905,463 | $— | $— | $— | — | $4,087 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | 2,455,095 | 10,210,380 | 10,647,784 | — | — | 2,017,691 | 2,017,691 | 32,822 | — |
Total | $3,204,208 | $11,366,730 | $12,553,247 | $— | $— | $2,017,691 | $36,909 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 47 |
AS OF April 30, 2023 (Unaudited) (continued)
ActiveBuilders International Equity ETF | |
Futures Contracts: | |
Average Notional Balance Long | $152,043 |
Ending Notional Balance Long | 645,060 |
Active China ETF | 0.65 % |
ActiveBuilders Emerging Markets Equity ETF | 0.33 |
ActiveBuilders International Equity ETF | 0.25 |
International Growth ETF | 0.55 |
48 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
Purchases (excluding U.S. Government) | Sales (excluding U.S. Government) | |
Active China ETF * | $12,749,720 | $239,468 |
ActiveBuilders Emerging Markets Equity ETF | 161,376,838 | 268,564,817 |
ActiveBuilders International Equity ETF | 3,054,827 | 3,840,856 |
International Growth ETF | 23,040,948 | 19,585,393 |
* | Commencement of operations was March 15, 2023. |
In-Kind Purchases | In-Kind Sales | |
ActiveBuilders Emerging Markets Equity ETF | $18,676,806 | $83,832,141 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 49 |
AS OF April 30, 2023 (Unaudited) (continued)
In-Kind Purchases | In-Kind Sales | |
International Growth ETF | $20,628,880 | $— |
Aggregate Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | |
Active China ETF | $12,657,005 | $224,109 | $504,479 | $(280,370 ) |
ActiveBuilders Emerging Markets Equity ETF | 968,655,622 | 41,421,802 | 120,270,045 | (78,848,243 ) |
ActiveBuilders International Equity ETF | 26,099,917 | 2,615,446 | 1,730,524 | 884,922 |
International Growth ETF | 83,794,558 | 10,199,366 | 2,130,503 | 8,068,863 |
Capital Loss Carryforward Character | ||
Short-Term | Long-Term | |
ActiveBuilders Emerging Markets Equity ETF | $50,152,798 | $5,335,765 |
ActiveBuilders International Equity ETF | 1,474,903 | 444,276 |
International Growth ETF | 6,482,137 | 2,981,997 |
50 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
JPMorgan SmartRetirement Funds | |
ActiveBuilders Emerging Markets Equity ETF | 55.3 % |
% of Ownership | |
Active China ETF | 77 % |
ActiveBuilders International Equity ETF | 78 |
Active China ETF | ActiveBuilders Emerging Markets Equity ETF | ActiveBuilders International Equity ETF | International Growth ETF | |
China | 98.7 % | 30.2 % | — % | — % |
France | — | — | 14.0 | 11.1 |
India | — | 12.5 | — | — |
Japan | — | — | 18.0 | 11.1 |
South Korea | — | 12.5 | — | — |
Taiwan | — | 15.4 | — | — |
United Kingdom | — | — | 11.4 | 11.8 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 51 |
AS OF April 30, 2023 (Unaudited) (continued)
52 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
(Unaudited)
Hypothetical $1,000 Investment
Beginning Account Value November 1, 2022 | Ending Account Value April 30, 2023 | Expenses Paid During the Period | Annualized Expense Ratio | |
JPMorgan Active China ETF | ||||
Actual * | $1,000.00 | $994.20 | $0.80 | 0.64 % |
Hypothetical ** | 1,000.00 | 1,021.62 | 3.21 | 0.64 |
JPMorgan ActiveBuilders Emerging Markets Equity ETF | ||||
Actual ** | 1,000.00 | 1,175.80 | 1.78 | 0.33 |
Hypothetical ** | 1,000.00 | 1,023.16 | 1.66 | 0.33 |
JPMorgan ActiveBuilders International Equity ETF | ||||
Actual ** | 1,000.00 | 1,250.80 | 1.40 | 0.25 |
Hypothetical ** | 1,000.00 | 1,023.56 | 1.25 | 0.25 |
JPMorgan International Growth ETF | ||||
Actual ** | 1,000.00 | 1,233.00 | 3.05 | 0.55 |
Hypothetical ** | 1,000.00 | 1,022.07 | 2.76 | 0.55 |
* | Expenses are equal to the Fund’s annualized net expense ratio, multiplied by the average account value over the period, multiplied by 46/365 (to reflect the actual period). The Fund commenced operations on March 15, 2023. |
** | Expenses are equal to the Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 53 |
(Unaudited)
54 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
(Unaudited)
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 55 |
(Unaudited) (continued)
56 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
Fund | Ticker | Listing Exchange |
JPMorgan International Research Enhanced Equity ETF | JIRE | NYSE Arca |
1 | |
2 | |
5 | |
10 | |
16 | |
18 | |
27 | |
28 |
Past performance is no guarantee of future performance. The general market views expressed in this report are opinions based on market and other conditions through the end of the reporting period and are subject to change without notice. These views are not intended to predict the future performance of the Fund or the securities markets.
Prospective investors should refer to the Fund's prospectus for a discussion of the Fund's investment objectives, strategies and risks. Call J.P. Morgan Exchange-Traded Funds at (844) 457-6383 for a prospectus containing more complete information about the Fund, including management fees and other expenses. Please read it carefully before investing.
Shares are bought and sold throughout the day on an exchange at market price (not at net asset value) through a brokerage account, and are not individually subscribed and redeemed from the Fund. Shares may only be subscribed and redeemed directly from the Fund by Authorized Participants, in large creation/redemption units. Brokerage commissions will reduce returns.
June 15, 2023 (Unaudited)
“While the effects of rising interest rates is likely to adversely impact economic growth in the months ahead, other factors may aid the global economic outlook, as energy prices have trended downward in recent months and the re-opening of China’s economy may provide support for increased global trade.” — Brian S. Shlissel |
President, J.P. Morgan Exchange-Traded Funds
J.P. Morgan Asset Management
1-844-4JPM-ETF or jpmorgan.com/etfs for more information
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 1 |
SIX MONTHS ENDED April 30, 2023 (Unaudited)
REPORTING PERIOD RETURN: | |
Net Asset Value * | 25.99% |
Market Price ** | 25.99% |
MSCI EAFE Index (net total return) | 24.19% |
Net Assets as of 4/30/2023 | $5,565,651,839 |
Fund Ticker | JIRE |
2 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Nestle SA (Registered) | 2.7 % |
2. | LVMH Moet Hennessy Louis Vuitton SE (France) | 2.4 |
3. | Novo Nordisk A/S, Class B (Denmark) | 2.4 |
4. | ASML Holding NV (Netherlands) | 2.1 |
5. | Roche Holding AG | 1.9 |
6. | AstraZeneca plc (United Kingdom) | 1.8 |
7. | Shell plc (Netherlands) | 1.7 |
8. | Novartis AG (Registered) (Switzerland) | 1.6 |
9. | BP plc (United Kingdom) | 1.5 |
10. | L'Oreal SA (France) | 1.3 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
Japan | 20.7% |
United Kingdom | 12.7 |
France | 12.5 |
Germany | 8.5 |
United States | 7.7 |
Netherlands | 6.0 |
Australia | 5.9 |
Switzerland | 5.7 |
Denmark | 3.3 |
Spain | 2.5 |
Hong Kong | 2.4 |
Sweden | 2.0 |
Singapore | 1.1 |
Finland | 1.0 |
Italy | 1.0 |
Others (each less than 1.0%) | 1.7 |
Short-Term Investments | 5.3 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 3 |
SIX MONTHS ENDED April 30, 2023 (Unaudited) (continued)
INCEPTION DATE | SIX MONTHS* | 1 YEAR | 5 YEAR | 10 YEAR | |
JPMorgan International Research Enhanced Equity ETF | |||||
Net Asset Value | October 28, 1992** | 25.99 % | 11.79 % | 3.70 % | 4.96 % |
Market Price | 25.99 | 11.82 | 3.70 | 4.97 |
* | Not annualized. |
** | Inception date for Class R6 Shares of the predecessor Fund (as defined below). |
4 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
AS OF April 30, 2023 (Unaudited)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 96.8% | ||
Australia — 6.0% | ||
ANZ Group Holdings Ltd. | 457,360 | 7,426,725 |
Aurizon Holdings Ltd. | 971,484 | 2,208,814 |
BHP Group Ltd. | 1,325,349 | 39,333,045 |
Commonwealth Bank of Australia | 400,205 | 26,484,006 |
Dexus, REIT | 798,768 | 4,140,004 |
Endeavour Group Ltd. | 927,467 | 4,180,282 |
Glencore plc | 824,839 | 4,868,722 |
Goodman Group, REIT | 1,642,472 | 21,174,148 |
GPT Group (The), REIT | 1,387,253 | 4,079,252 |
Insurance Australia Group Ltd. | 1,518,251 | 5,030,100 |
Macquarie Group Ltd. | 186,071 | 22,699,141 |
Medibank Pvt Ltd. | 3,964,414 | 9,382,026 |
Mirvac Group, REIT | 4,512,813 | 7,244,993 |
National Australia Bank Ltd. | 645,509 | 12,426,797 |
Newcrest Mining Ltd. | 269,285 | 5,141,962 |
QBE Insurance Group Ltd. | 1,442,753 | 14,753,301 |
Rio Tinto Ltd. | 596,505 | 44,740,662 |
Rio Tinto plc | 303,158 | 19,272,481 |
Santos Ltd. | 3,182,174 | 15,074,266 |
Wesfarmers Ltd. | 341,189 | 11,802,894 |
Westpac Banking Corp. | 1,825,213 | 27,321,945 |
Woodside Energy Group Ltd. | 239,518 | 5,434,743 |
Woolworths Group Ltd. | 798,571 | 20,600,609 |
334,820,918 | ||
Belgium — 0.5% | ||
KBC Group NV | 421,293 | 30,117,570 |
China — 0.6% | ||
BOC Hong Kong Holdings Ltd. | 3,611,500 | 11,400,506 |
Prosus NV | 278,730 | 20,858,351 |
Xinyi Glass Holdings Ltd. | 1,411,300 | 2,582,030 |
34,840,887 | ||
Denmark — 3.3% | ||
Carlsberg A/S, Class B | 205,605 | 34,026,967 |
Genmab A/S * | 16,836 | 6,919,002 |
Novo Nordisk A/S, Class B | 830,693 | 138,189,518 |
Vestas Wind Systems A/S * | 214,715 | 5,941,292 |
185,076,779 | ||
Finland — 1.1% | ||
Kone OYJ, Class B | 302,505 | 17,258,134 |
Nokia OYJ | 2,005,636 | 8,486,149 |
Nordea Bank Abp | 2,930,308 | 32,553,578 |
58,297,861 |
INVESTMENTS | SHARES | VALUE($) |
France — 12.7% | ||
Air Liquide SA | 403,635 | 72,609,995 |
Airbus SE (a) | 147,529 | 20,659,168 |
Alstom SA | 480,536 | 12,078,067 |
AXA SA (a) | 258,590 | 8,440,422 |
BNP Paribas SA | 663,644 | 42,880,289 |
Capgemini SE | 238,521 | 43,496,050 |
Engie SA (a) | 1,644,930 | 26,325,931 |
Kering SA | 26,310 | 16,848,056 |
Legrand SA | 289,345 | 27,387,654 |
L'Oreal SA (a) | 157,058 | 75,060,716 |
LVMH Moet Hennessy Louis Vuitton SE (a) | 144,194 | 138,697,518 |
Orange SA | 1,552,196 | 20,203,256 |
Pernod Ricard SA | 64,968 | 15,004,307 |
Safran SA | 251,415 | 39,100,003 |
Societe Generale SA | 566,861 | 13,768,073 |
TotalEnergies SE | 728,578 | 46,556,093 |
Veolia Environnement SA | 848,358 | 26,863,211 |
Vinci SA | 506,124 | 62,603,080 |
708,581,889 | ||
Germany — 8.7% | ||
adidas AG | 72,663 | 12,796,387 |
Allianz SE (Registered) | 296,952 | 74,566,684 |
BASF SE | 62,787 | 3,247,603 |
Bayer AG (Registered) | 251,275 | 16,583,213 |
Brenntag SE | 79,062 | 6,443,922 |
Deutsche Post AG (Registered) | 757,600 | 36,440,255 |
Deutsche Telekom AG (Registered) | 2,578,329 | 62,168,066 |
Dr Ing hc F Porsche AG (Preference) * (b) | 44,973 | 5,631,469 |
Infineon Technologies AG | 1,116,085 | 40,644,217 |
Mercedes-Benz Group AG | 139,104 | 10,848,169 |
Merck KGaA | 46,966 | 8,424,233 |
Muenchener Rueckversicherungs- Gesellschaft AG (Registered) | 105,224 | 39,546,074 |
RWE AG | 1,029,178 | 48,254,310 |
SAP SE | 351,112 | 47,511,141 |
Siemens AG (Registered) | 255,387 | 42,096,011 |
Symrise AG | 79,743 | 9,634,752 |
Volkswagen AG (Preference) | 75,370 | 10,291,757 |
Zalando SE * (c) | 228,546 | 9,399,978 |
484,528,241 | ||
Hong Kong — 2.4% | ||
AIA Group Ltd. | 4,332,000 | 47,162,812 |
CK Asset Holdings Ltd. | 1,587,348 | 9,386,190 |
CLP Holdings Ltd. | 344,500 | 2,565,053 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 5 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Hong Kong — continued | ||
Hong Kong Exchanges & Clearing Ltd. | 562,500 | 23,353,256 |
Link, REIT | 1,053,500 | 6,890,829 |
Prudential plc | 1,379,078 | 21,101,328 |
Sun Hung Kai Properties Ltd. | 670,000 | 9,328,607 |
Techtronic Industries Co. Ltd. | 1,401,000 | 15,156,704 |
134,944,779 | ||
Ireland — 0.4% | ||
Kingspan Group plc | 336,612 | 23,327,125 |
Italy — 1.0% | ||
Enel SpA | 2,620,153 | 17,901,187 |
FinecoBank Banca Fineco SpA | 1,349,481 | 20,455,021 |
UniCredit SpA | 958,534 | 18,993,812 |
57,350,020 | ||
Japan — 21.2% | ||
AGC, Inc. | 194,800 | 7,263,092 |
Ajinomoto Co., Inc. | 261,700 | 9,411,874 |
Asahi Group Holdings Ltd. | 719,500 | 27,797,235 |
Asahi Kasei Corp. | 1,085,400 | 7,666,354 |
Bridgestone Corp. | 697,100 | 27,994,390 |
Capcom Co. Ltd. | 245,600 | 9,229,061 |
Central Japan Railway Co. | 221,100 | 27,371,909 |
Daiichi Sankyo Co. Ltd. | 1,085,200 | 37,238,220 |
Daikin Industries Ltd. | 171,283 | 31,110,315 |
Daiwa House Industry Co. Ltd. | 888,300 | 22,641,414 |
Denso Corp. | 418,900 | 25,286,316 |
Dentsu Group, Inc. | 808,100 | 29,119,759 |
Fast Retailing Co. Ltd. | 32,100 | 7,601,333 |
Fuji Electric Co. Ltd. | 340,900 | 13,760,605 |
Hitachi Ltd. | 643,300 | 35,583,905 |
Honda Motor Co. Ltd. | 945,672 | 25,082,086 |
Hoya Corp. | 313,700 | 32,893,027 |
ITOCHU Corp. | 936,700 | 31,074,891 |
Japan Airlines Co. Ltd. | 220,500 | 4,206,389 |
Kao Corp. | 346,600 | 14,005,587 |
Keyence Corp. | 108,800 | 49,064,045 |
Komatsu Ltd. | 324,500 | 8,070,273 |
Konami Group Corp. | 234,500 | 11,538,338 |
Kyowa Kirin Co. Ltd. | 592,900 | 13,192,854 |
Mitsubishi Corp. | 985,500 | 36,538,273 |
Mitsubishi UFJ Financial Group, Inc. | 2,222,450 | 13,911,503 |
Mitsui Fudosan Co. Ltd. | 1,124,500 | 22,334,841 |
Murata Manufacturing Co. Ltd. | 452,500 | 25,673,119 |
NIDEC Corp. | 148,000 | 7,323,348 |
INVESTMENTS | SHARES | VALUE($) |
Japan — continued | ||
Nintendo Co. Ltd. | 235,600 | 9,960,553 |
Nippon Express Holdings, Inc. | 92,000 | 5,398,741 |
Nippon Paint Holdings Co. Ltd. | 1,811,100 | 16,340,186 |
Nippon Steel Corp. | 304,100 | 6,494,792 |
Nippon Telegraph & Telephone Corp. | 1,165,200 | 35,554,886 |
Nomura Research Institute Ltd. | 553,700 | 13,930,842 |
Ono Pharmaceutical Co. Ltd. | 496,800 | 10,003,116 |
ORIX Corp. | 1,188,800 | 20,224,488 |
Otsuka Corp. | 500,300 | 18,210,437 |
Recruit Holdings Co. Ltd. | 489,900 | 13,743,462 |
Renesas Electronics Corp. * | 635,900 | 8,287,334 |
Seven & i Holdings Co. Ltd. | 361,900 | 16,400,385 |
Shimadzu Corp. | 244,800 | 7,656,554 |
Shin-Etsu Chemical Co. Ltd. | 1,430,100 | 40,809,079 |
Shionogi & Co. Ltd. | 153,900 | 6,889,263 |
Shiseido Co. Ltd. | 327,700 | 16,426,223 |
SoftBank Group Corp. | 301,500 | 11,306,980 |
Sony Group Corp. | 611,415 | 55,317,006 |
Sumitomo Electric Industries Ltd. | 1,297,800 | 16,562,866 |
Sumitomo Metal Mining Co. Ltd. | 525,800 | 19,406,600 |
Sumitomo Mitsui Financial Group, Inc. | 1,069,600 | 43,718,443 |
Suzuki Motor Corp. | 576,300 | 20,094,703 |
T&D Holdings, Inc. | 1,492,500 | 18,277,677 |
Takeda Pharmaceutical Co. Ltd. | 131,200 | 4,350,482 |
Terumo Corp. | 766,300 | 22,947,461 |
Tokio Marine Holdings, Inc. | 1,573,500 | 31,638,418 |
Tokyo Electron Ltd. | 290,000 | 33,206,597 |
Toyota Motor Corp. | 3,016,000 | 41,409,789 |
1,178,551,719 | ||
Luxembourg — 0.1% | ||
ArcelorMittal SA * | 90,295 | 2,565,249 |
Macau — 0.2% | ||
Sands China Ltd. * | 2,244,400 | 8,038,139 |
Netherlands — 6.1% | ||
Adyen NV * (c) | 8,361 | 13,434,888 |
ASML Holding NV | 187,366 | 118,904,843 |
Koninklijke Ahold Delhaize NV | 751,271 | 25,832,201 |
Koninklijke KPN NV | 7,832,385 | 28,563,805 |
NN Group NV | 769,108 | 28,680,311 |
Shell plc | 3,235,878 | 99,432,618 |
Wolters Kluwer NV | 178,248 | 23,616,729 |
338,465,395 |
6 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Singapore — 1.1% | ||
DBS Group Holdings Ltd. | 1,294,665 | 31,991,125 |
Oversea-Chinese Banking Corp. Ltd. | 716,300 | 6,776,837 |
Sea Ltd., ADR * | 126,068 | 9,602,600 |
United Overseas Bank Ltd. | 612,300 | 13,004,002 |
61,374,564 | ||
South Korea — 0.1% | ||
Delivery Hero SE * (c) | 112,366 | 4,491,402 |
Spain — 2.6% | ||
Banco Bilbao Vizcaya Argentaria SA | 5,406,934 | 39,584,100 |
Banco Santander SA (a) | 2,653,667 | 9,322,540 |
Iberdrola SA | 5,353,380 | 69,369,640 |
Industria de Diseno Textil SA (a) | 767,856 | 26,396,399 |
144,672,679 | ||
Sweden — 2.0% | ||
Atlas Copco AB, Class A | 3,609,962 | 52,214,947 |
Boliden AB * (a) | 349,865 | 12,503,092 |
Volvo AB, Class B | 2,271,402 | 46,701,635 |
111,419,674 | ||
Switzerland — 5.8% | ||
Cie Financiere Richemont SA (Registered) | 205,670 | 33,997,430 |
DSM-Firmenich AG * | 188,878 | 24,716,886 |
Givaudan SA (Registered) | 1,848 | 6,464,245 |
Julius Baer Group Ltd. | 85,182 | 6,103,819 |
Lonza Group AG (Registered) | 85,083 | 53,061,184 |
Novartis AG (Registered) | 873,017 | 89,304,306 |
SGS SA (Registered) | 237,707 | 21,511,392 |
Sika AG (Registered) | 125,907 | 34,778,412 |
UBS Group AG (Registered) * | 743,048 | 15,122,934 |
Zurich Insurance Group AG | 75,080 | 36,410,215 |
321,470,823 | ||
United Kingdom — 13.0% | ||
3i Group plc | 2,448,210 | 54,470,308 |
AstraZeneca plc | 680,489 | 100,142,793 |
Barclays plc | 17,360,050 | 34,970,300 |
Berkeley Group Holdings plc | 475,548 | 26,612,712 |
BP plc | 12,916,293 | 86,655,349 |
British American Tobacco plc | 576,570 | 21,301,834 |
DCC plc | 140,360 | 8,732,772 |
Diageo plc | 1,366,921 | 62,353,618 |
HSBC Holdings plc | 4,385,508 | 31,607,890 |
InterContinental Hotels Group plc | 487,623 | 33,527,345 |
Intertek Group plc | 67,297 | 3,520,589 |
INVESTMENTS | SHARES | VALUE($) |
United Kingdom — continued | ||
Lloyds Banking Group plc | 63,549,437 | 38,607,669 |
London Stock Exchange Group plc | 47,553 | 4,992,745 |
Reckitt Benckiser Group plc | 439,220 | 35,493,288 |
RELX plc | 1,752,489 | 58,390,648 |
SSE plc | 931,444 | 21,491,364 |
Standard Chartered plc | 4,092,841 | 32,428,122 |
Taylor Wimpey plc | 4,783,176 | 7,719,413 |
Tesco plc | 8,037,604 | 28,416,570 |
Unilever plc | 606,150 | 33,760,890 |
725,196,219 | ||
United States — 7.9% | ||
CSL Ltd. | 165,277 | 32,995,367 |
GSK plc | 684,598 | 12,345,469 |
Nestle SA (Registered) | 1,187,947 | 152,401,215 |
Roche Holding AG | 345,969 | 108,336,804 |
Sanofi | 177,499 | 19,128,758 |
Schneider Electric SE | 387,892 | 67,645,222 |
Stellantis NV (a) | 2,778,492 | 46,085,674 |
438,938,509 | ||
Total Common Stocks (Cost $4,630,777,032) | 5,387,070,441 | |
Short-Term Investments — 5.5% | ||
Investment Companies — 2.4% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 4.95% (d) (e)(Cost $130,243,056) | 130,213,378 | 130,252,442 |
Investment of Cash Collateral from Securities Loaned — 3.1% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.01% (d) (e) | 155,962,610 | 155,978,206 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (d) (e) | 17,992,238 | 17,992,238 |
Total Investment of Cash Collateral from Securities Loaned (Cost $173,986,040) | 173,970,444 | |
Total Short-Term Investments (Cost $304,229,096) | 304,222,886 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 7 |
AS OF April 30, 2023 (Unaudited) (continued)
INVESTMENTS | SHARES | VALUE($) |
Total Investments — 102.3% (Cost $4,935,006,128) | 5,691,293,327 | |
Liabilities in Excess of Other Assets — (2.3)% | (125,641,488 ) | |
NET ASSETS — 100.0% | 5,565,651,839 |
Percentages indicated are based on net assets. |
Abbreviations | |
ADR | American Depositary Receipt |
OYJ | Public Limited Company |
Preference | A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference shares may also have liquidation preference. |
REIT | Real Estate Investment Trust |
* | Non-income producing security. |
(a) | The security or a portion of this security is on loan at April 30, 2023. The total value of securities on loan at April 30, 2023 is $165,212,182. |
(b) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. |
(c) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. |
(d) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(e) | The rate shown is the current yield as of April 30, 2023. |
INDUSTRY April 30, 2023 | PERCENT OF TOTAL INVESTMENTS |
Pharmaceuticals | 10.3 % |
Banks | 9.5 |
Insurance | 5.9 |
Oil, Gas & Consumable Fuels | 4.5 |
Textiles, Apparel & Luxury Goods | 3.6 |
Semiconductors & Semiconductor Equipment | 3.5 |
Chemicals | 3.4 |
Food Products | 2.8 |
Automobiles | 2.8 |
Metals & Mining | 2.7 |
Machinery | 2.7 |
Diversified Telecommunication Services | 2.6 |
Personal Care Products | 2.4 |
Beverages | 2.4 |
Capital Markets | 2.2 |
Electrical Equipment | 2.1 |
Professional Services | 2.1 |
Electric Utilities | 2.0 |
Consumer Staples Distribution & Retail | 1.7 |
Household Durables | 1.6 |
Industrial Conglomerates | 1.5 |
Electronic Equipment, Instruments & Components | 1.5 |
IT Services | 1.3 |
Trading Companies & Distributors | 1.3 |
Automobile Components | 1.2 |
Building Products | 1.1 |
Real Estate Management & Development | 1.1 |
Construction & Engineering | 1.1 |
Aerospace & Defense | 1.1 |
Health Care Equipment & Supplies | 1.0 |
Others (each less than 1.0%) | 11.7 |
Short-Term Investments | 5.3 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
SPI 200 Index | 938 | 06/15/2023 | AUD | 114,374,813 | 4,426,427 |
8 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
Abbreviations | |
AUD | Australian Dollar |
SPI | Australian Securities Exchange |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 9 |
AS OF April 30, 2023 (Unaudited)
JPMorgan International Research Enhanced Equity ETF | |
ASSETS: | |
Investments in non-affiliates, at value | $5,387,070,441 |
Investments in affiliates, at value | 130,252,442 |
Investments of cash collateral received from securities loaned, at value (See Note 2.C.) | 173,970,444 |
Cash | 1,759,753 |
Foreign currency, at value | 397,216 |
Deposits at broker for futures contracts | 9,275,777 |
Segregated cash balance with Authorized Participant for deposit securities | 401,428 |
Receivables: | |
Dividends from non-affiliates | 22,055,485 |
Dividends from affiliates | 17,505 |
Tax reclaims | 16,279,418 |
Securities lending income (See Note 2.C.) | 179,819 |
Variation margin on futures contracts | 822,392 |
Prepaid expenses | 478 |
Total Assets | 5,742,482,598 |
LIABILITIES: | |
Payables: | |
Investment securities purchased | 1,072,952 |
Collateral received on securities loaned (See Note 2.C.) | 173,970,444 |
Collateral upon return of deposit securities | 401,428 |
Accrued liabilities: | |
Investment advisory fees | 661,251 |
Administration fees | 340,223 |
Printing and mailing costs | 28,429 |
Custodian and accounting fees | 275,092 |
Other | 80,940 |
Total Liabilities | 176,830,759 |
Net Assets | $5,565,651,839 |
NET ASSETS: | |
Paid-in-Capital | $4,942,252,312 |
Total distributable earnings (loss) | 623,399,527 |
Total Net Assets | $5,565,651,839 |
Outstanding number of shares (unlimited number of shares authorized - par value $0.0001) | 97,977,892 |
Net asset value, per share | $56.81 |
Cost of investments in non-affiliates | $4,630,777,032 |
Cost of investments in affiliates | 130,243,056 |
Cost of foreign currency | 394,162 |
Investment securities on loan, at value (See Note 2.C.) | 165,212,182 |
Cost of investment of cash collateral (See Note 2.C.) | 173,986,040 |
10 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
FOR THE SIX MONTHS ENDED April 30, 2023 (Unaudited)
JPMorgan International Research Enhanced Equity ETF | |
INVESTMENT INCOME: | |
Interest income from non-affiliates | $240,005 |
Interest income from affiliates | 224,177 |
Dividend income from non-affiliates | 95,187,773 |
Dividend income from affiliates | 3,241,904 |
Income from securities lending (net) (See Note 2.C.) | 288,348 |
Foreign taxes withheld (net) | (9,114,657 ) |
Total investment income | 90,067,550 |
EXPENSES: | |
Investment advisory fees | 5,268,946 |
Administration fees | 1,975,843 |
Custodian and accounting fees | 357,699 |
Interest expense to non-affiliates | 1,211 |
Interest expense to affiliates | 8,077 |
Professional fees | 40,980 |
Trustees’ and Chief Compliance Officer’s fees | 19,171 |
Printing and mailing costs | 51,601 |
Registration and filing fees | 49,332 |
Other | 25,412 |
Total expenses | 7,798,272 |
Less fees waived | (97,421 ) |
Less expense reimbursements | (1,463,967 ) |
Net expenses | 6,236,884 |
Net investment income (loss) | 83,830,666 |
REALIZED/UNREALIZED GAINS (LOSSES): | |
Net realized gain (loss) on transactions from: | |
Investments in non-affiliates | (67,834,076 ) |
Investments in affiliates | (7,245 ) |
In-kind redemptions of investments in non-affiliates (See Note 4) | 277,463,782 |
Futures contracts | 3,680,640 |
Foreign currency transactions | 1,605,833 |
Net realized gain (loss) | 214,908,934 |
Change in net unrealized appreciation/depreciation on: | |
Investments in non-affiliates | 894,231,782 |
Investments in affiliates | 11,385 |
Futures contracts | 6,712,271 |
Foreign currency translations | 1,030,681 |
Change in net unrealized appreciation/depreciation | 901,986,119 |
Net realized/unrealized gains (losses) | 1,116,895,053 |
Change in net assets resulting from operations | $1,200,725,719 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 11 |
FOR THE PERIODS INDICATED
JPMorgan International Research Enhanced Equity ETF | ||
Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, 2022 (a) | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||
Net investment income (loss) | $83,830,666 | $136,000,947 |
Net realized gain (loss) | 214,908,934 | 1,261,823 |
Change in net unrealized appreciation/depreciation | 901,986,119 | (1,400,778,956 ) |
Change in net assets resulting from operations | 1,200,725,719 | (1,263,516,186 ) |
Total distributions to shareholders | (129,393,762 ) | (199,297,281 ) |
CAPITAL TRANSACTIONS: | ||
Change in net assets resulting from capital transactions | (531,868,460 ) | 1,493,159,833 |
NET ASSETS: | ||
Change in net assets | 539,463,497 | 30,346,366 |
Beginning of period | 5,026,188,342 | 4,995,841,976 |
End of period | $5,565,651,839 | $5,026,188,342 |
12 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
JPMorgan International Research Enhanced Equity ETF | ||
Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, 2022(a) | |
CAPITAL TRANSACTIONS: (b) | ||
Proceeds from shares issued | $443,387,507 | $1,621,509,655 |
Distributions reinvested | — | 181,165,628 |
Cost of shares redeemed | (975,255,967 ) | (432,128,313 ) |
Change in net assets resulting from capital transactions | (531,868,460 ) | 1,370,546,970 |
Class A | ||
Proceeds from shares issued | — | 801,584 |
Distributions reinvested | — | 1,641,891 |
Cost of shares redeemed | — | (13,072,328 ) |
Change in net assets resulting from Class A capital transactions | — | (10,628,853 ) |
Class I | ||
Proceeds from shares issued | — | 239,601,698 |
Distributions reinvested | — | 15,288,160 |
Cost of shares redeemed | — | (121,648,142 ) |
Change in net assets resulting from Class I capital transactions | — | 133,241,716 |
Total change in net assets resulting from capital transactions | $(531,868,460 ) | $1,493,159,833 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 13 |
FOR THE PERIODS INDICATED (continued)
JPMorgan International Research Enhanced Equity ETF | ||
Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, 2022(a) | |
SHARES TRANSACTIONS: (b) | ||
Issued | 8,100,000 | 30,420,358 |
Reinvested | — | 3,138,911 |
Redeemed | (18,750,000 ) | (8,018,891 ) |
Change in Shares | (10,650,000 ) | 25,540,378 |
Class A | ||
Issued | — | 14,139 |
Reinvested | — | 28,424 |
Redeemed | — | (244,325 ) |
Change in Class A Shares | — | (201,762 ) |
Class I | ||
Issued | — | 4,451,971 |
Reinvested | — | 264,675 |
Redeemed | — | (2,163,040 ) |
Change in Class I Shares | — | 2,553,606 |
14 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
FOR THE PERIODS INDICATED
Per share operating performance (a) | |||||
Investment operations | Distributions | ||||
Net asset value beginning of period | Net investment income loss(c) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | |
JPMorgan International Research Enhanced Equity ETF (g) | |||||
Six Months Ended April 30, 2023 (Unaudited) | $46.27 | $0.84 | $11.01 | $11.85 | $(1.31 ) |
Year Ended October 31, 2022 | 61.89 | 1.39 | (14.54 ) | (13.15 ) | (2.47 ) |
Year Ended October 31, 2021 | 46.43 | 1.42(h ) | 15.11 | 16.53 | (1.07 ) |
Year Ended October 31, 2020 | 52.55 | 1.13 | (5.63 ) | (4.50 ) | (1.62 ) |
Year Ended October 31, 2019 | 49.24 | 1.65 | 3.37 | 5.02 | (1.71 ) |
November 1, 2017 through (i) October 31, 2018 | 55.08 | 1.62 | (6.27 ) | (4.65 ) | (0.64 ) |
(a) | Per share amounts reflect the conversion of the Predecessor Fund into the Fund as of the close of business on June 10, 2022. See Note 1. |
(b) | Annualized for periods less than one year, unless otherwise noted. |
(c) | Calculated based upon average shares outstanding. |
(d) | Not annualized for periods less than one year. |
(e) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset values for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
(f) | JPMorgan International Research Enhanced Equity ETF acquired all of the assets and liabilities of the JPMorgan International Research Enhanced Equity Fund (“Predecessor Fund”) in a reorganization that occurred as of the close of business on June 10, 2022. Market price returns are calculated using the official closing price of the JPMorgan International Research Enhanced Equity ETF on the listing exchange as of the time that the JPMorgan International Research Enhanced Equity ETF's NAV is calculated. Prior to the JPMorgan International Research Enhanced Equity ETF's listing on June 13, 2022, the NAV performance of the Class R6 Shares of the Predecessor Fund are used as proxy market price returns. |
(g) | JPMorgan International Research Enhanced Equity ETF (the “Fund”) acquired all of the assets and liabilities of the JPMorgan International Research Enhanced Equity Fund (“Predecessor Fund”) in a reorganization that occurred as of the close of business on June 10, 2022. Performance and financial history of the Predecessor Fund’s Class R6 Shares have been adopted by the Fund and will be used going forward. As a result, the financial highlight information reflects that of the Predecessor Fund’s Class R6 Shares for the period November 1, 2017 up through the reorganization. |
(h) | Reflects income from foreign withholding tax claims, including related interest income. Had the Fund not received these proceeds, the net investment income (loss) per share would have remained the same and the net investment income (loss) ratio would have been 2.44%. |
(i) | Commencement of offering of class of shares. |
16 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
Ratios/Supplemental data | ||||||||||
Ratios to average net assets (b) | ||||||||||
Net realized gain | Total Distributions | Net asset value, end of period | Market price, end of period | Total Return(d)(e) | Market price total return(d)(f) | Net assets, end of period | Net expenses | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate(d) |
$— | $(1.31 ) | $56.81 | $56.82 | 25.99 % | 25.99 % | $5,565,651,839 | 0.24 % | 3.18 % | 0.30 % | 10 % |
— | (2.47 ) | 46.27 | 46.28 | (22.04 ) | (22.03 ) | 5,026,188,342 | 0.24 | 2.66 | 0.30 | 16 |
— | (1.07 ) | 61.89 | 61.89 | 35.93 | 35.93 | 4,562,266,369 | 0.25 | 2.46 (h) | 0.31 | 20 |
— | (1.62 ) | 46.43 | 46.43 | (8.96 ) | (8.96 ) | 4,337,775,495 | 0.24 | 2.35 | 0.30 | 52 |
— | (1.71 ) | 52.55 | 52.55 | 10.78 | 10.78 | 4,435,538,473 | 0.25 | 3.37 | 0.31 | 22 |
(0.55 ) | (1.19 ) | 49.24 | 49.24 | (8.60 ) | (8.60 ) | 4,344,571,588 | 0.25 | 3.00 | 0.32 | 42 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 17 |
AS OF April 30, 2023 (Unaudited)
18 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | ||||
Australia | $— | $334,820,918 | $— | $334,820,918 |
Belgium | — | 30,117,570 | — | 30,117,570 |
China | — | 34,840,887 | — | 34,840,887 |
Denmark | — | 185,076,779 | — | 185,076,779 |
Finland | — | 58,297,861 | — | 58,297,861 |
France | — | 708,581,889 | — | 708,581,889 |
Germany | — | 484,528,241 | — | 484,528,241 |
Hong Kong | — | 134,944,779 | — | 134,944,779 |
Ireland | — | 23,327,125 | — | 23,327,125 |
Italy | — | 57,350,020 | — | 57,350,020 |
Japan | — | 1,178,551,719 | — | 1,178,551,719 |
Luxembourg | — | 2,565,249 | — | 2,565,249 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 19 |
AS OF April 30, 2023 (Unaudited) (continued)
(continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Macau | $— | $8,038,139 | $— | $8,038,139 |
Netherlands | — | 338,465,395 | — | 338,465,395 |
Singapore | 9,602,600 | 51,771,964 | — | 61,374,564 |
South Korea | — | 4,491,402 | — | 4,491,402 |
Spain | — | 144,672,679 | — | 144,672,679 |
Sweden | — | 111,419,674 | — | 111,419,674 |
Switzerland | 24,716,886 | 296,753,937 | — | 321,470,823 |
United Kingdom | — | 725,196,219 | — | 725,196,219 |
United States | — | 438,938,509 | — | 438,938,509 |
Total Common Stocks | 34,319,486 | 5,352,750,955 | — | 5,387,070,441 |
Short-Term Investments | ||||
Investment Companies | 130,252,442 | — | — | 130,252,442 |
Investment of Cash Collateral from Securities Loaned | 173,970,444 | — | — | 173,970,444 |
Total Short-Term Investments | 304,222,886 | — | — | 304,222,886 |
Total Investments in Securities | $338,542,372 | $5,352,750,955 | $— | $5,691,293,327 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts | $4,426,427 | $— | $— | $4,426,427 |
20 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
Investment Securities on Loan, at value, Presented on the Statement of Assets and Liabilities | Cash Collateral Posted by Borrower* | Net Amount Due to Counterparty (not less than zero) | |
$165,212,182 | $(165,212,182 ) | $— |
* | Collateral posted reflects the value of securities on loan and does not include any additional amounts received from the borrower. |
$3,946 |
For the six months ended April 30, 2023 | |||||||||
Security Description | Value at October 31, 2022 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at April 30, 2023 | Shares at April 30, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 4.95% (a) (b) | $124,239,979 | $261,408,060 | $255,415,236 | $(7,245 ) | $26,884 | $130,252,442 | 130,213,378 | $3,241,904 | $— |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.01% (a) (b) | 56,261,418 | 355,000,000 | 255,275,423 | 7,710 * | (15,499 ) | 155,978,206 | 155,962,610 | 845,987 * | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 4.78% (a) (b) | 7,523,073 | 250,057,851 | 239,588,686 | — | — | 17,992,238 | 17,992,238 | 163,649 * | — |
Total | $188,024,470 | $866,465,911 | $750,279,345 | $465 | $11,385 | $304,222,886 | $4,251,540 | $— |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of April 30, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 21 |
AS OF April 30, 2023 (Unaudited) (continued)
Futures Contracts: | |
Average Notional Balance Long | $124,759,675 |
Ending Notional Balance Long | 114,374,813 |
22 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 23 |
AS OF April 30, 2023 (Unaudited) (continued)
Contractual Reimbursements | |
$1,462,756 |
Purchases (excluding U.S. Government) | Sales (excluding U.S. Government) | |
$500,891,712 | $568,005,180 |
In-Kind Purchases | In-Kind Sales | |
$410,942,450 | $929,152,769 |
24 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
Aggregate Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | |
$4,935,006,128 | $924,605,591 | $163,891,965 | $760,713,626 |
Capital Loss Carryforward Character | ||
Short-Term | Long-Term | |
$41,791,174 | $283,108,657 |
Capital Loss Utilized | ||
Short-Term | Long-Term | |
$— | $1,906,840 |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 25 |
AS OF April 30, 2023 (Unaudited) (continued)
J.P. Morgan Investor Funds | JPMorgan SmartRetirement Funds | |
18.8 % | 59.3 % |
France | 12.8 % |
Japan | 21.4 |
United Kingdom | 13.1 |
26 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
(Unaudited)
Hypothetical $1,000 Investment
Beginning Account Value November 1, 2022 | Ending Account Value April 30, 2023 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan International Research Enhanced Equity ETF | ||||
Actual | $1,000.00 | $1,259.90 | $1.34 | 0.24 % |
Hypothetical | 1,000.00 | 1,023.60 | 1.20 | 0.24 |
* | Expenses are equal to the Fund’s annualized net expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
April 30, 2023 | J.P. Morgan Exchange-Traded Funds | 27 |
(Unaudited)
28 | J.P. Morgan Exchange-Traded Funds | April 30, 2023 |
ITEM 2. CODE OF ETHICS.
Not applicable to a semi-annual report.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Not applicable to a semi-annual report.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
Not applicable to a semi-annual report.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
Not applicable to a semi-annual report.
ITEM 6. SCHEDULE OF INVESTMENTS.
File Schedule I – Investments in securities of unaffiliated issuers as of the close of the reporting period as set forth in Section 210.12-12 of Regulation S-X, unless the schedule is included as part of the report to shareholders filed under Item 1 of this Form.
Included in Item 1.
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 9. PURCHASE OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.
Not applicable.
ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
Describe any material changes to the procedures by which shareholders may recommend nominees to the registrant`s board of directors, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 7(d)(2)(ii)(G) of Schedule 14A (17 CFR 240.14a-101), or this Item.
No material changes to report.
ITEM 11. CONTROLS AND PROCEDURES.
(a) Disclose the conclusions of the registrant’s principal executive and principal financial officers, or persons performing similar functions, regarding the effectiveness of the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR 270.30a-3(c))) as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the Act (17 CFR 270.30a-3(b))and Rules 13a-15(b) or 15d-15(b) under the Exchange Act (17 CFR 240.13a-15(b) or 240.15d-15(b)).
The Registrant’s principal executive and principal financial officers have concluded, based on their evaluation of the Registrant’s disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant’s disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-CSR is accumulated and communicated to the Registrant’s management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.
(b) Disclose any change in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d)) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
There were no changes in the Registrant’s internal control over financial reporting that occurred during the last fiscal quarter covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.
ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 13. EXHIBITS.
(a) | File the exhibits listed below as part of this Form. Letter or number the exhibits in the sequence indicated. |
(1) Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit.
Not applicable.
(2) A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2), exactly as set forth below:
(1) Any written solicitation to purchase securities under Rule 23c-1 under the Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons.
Not applicable.
(2) Change in the registrant’s independent public accountant. Provide the information called for by Item 4 of Form 8-K under the Exchange Act (17 CFR 249.308). Unless otherwise specified by Item 4, or related to and necessary for a complete understanding of information not previously disclosed, the information should relate to events occurring during the reporting period.
Not applicable.
(b) | A separate or combined certification for each principal executive officer and principal officer of the registrant as required by Rule 30a-2(b) under the Act of 1940. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
J.P. Morgan Exchange-Traded Fund Trust | ||
By: | /s/ Brian S. Shlissel | |
Brian S. Shlissel | ||
President and Principal Executive Officer | ||
July 5, 2023 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ Brian S. Shlissel | |
Brian S. Shlissel | ||
President and Principal Executive Officer | ||
July 5, 2023 | ||
By: | /s/ Timothy J. Clemens | |
Timothy J. Clemens | ||
Treasurer and Principal Financial Officer | ||
July 5, 2023 |