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 October 31, 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 reports.
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 Emerging Markets Equity ETF | BBEM | 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, Inc. |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF | BBSC | NYSE Arca, Inc. |
JPMorgan Carbon Transition U.S. Equity ETF | JCTR | NYSE Arca, Inc. |
JPMorgan Diversified Return Emerging Markets Equity ETF | JPEM | NYSE Arca, Inc. |
JPMorgan Diversified Return International Equity ETF | JPIN | NYSE Arca, Inc. |
JPMorgan Diversified Return U.S. Equity ETF | JPUS | NYSE Arca, Inc. |
JPMorgan Diversified Return U.S. Mid Cap Equity ETF | JPME | NYSE Arca, Inc. |
JPMorgan Diversified Return U.S. Small Cap Equity ETF | JPSE | NYSE Arca, Inc. |
JPMorgan U.S. Momentum Factor ETF | JMOM | NYSE Arca, Inc. |
JPMorgan U.S. Quality Factor ETF | JQUA | NYSE Arca, Inc. |
JPMorgan U.S. Value Factor ETF | JVAL | NYSE Arca, Inc. |
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"The strong performance of financial markets in 2023 created wider differences in equity valuations that may provide attractive opportunities for investors. Additionally, interest rate reductions next year could benefit high-quality fixed income investments.” — 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
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 1 |
2 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | (1.15)% |
Market Price ** | (1.22)% |
Morningstar® Canada Target Market Exposure IndexSM (net total return) | (1.22)% |
Net Assets as of 10/31/2023 | $5,686,974,712 |
Fund Ticker | BBCA |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Royal Bank of Canada (Canada) | 6.6 % |
2. | Toronto-Dominion Bank (The) (Canada) | 6.0 |
3. | Canadian Natural Resources Ltd. (Canada) | 4.1 |
4. | Enbridge, Inc. (Canada) | 4.0 |
5. | Canadian Pacific Kansas City Ltd. (Canada) | 3.9 |
6. | Canadian National Railway Co. (Canada) | 3.7 |
7. | Shopify, Inc., Class A (Canada) | 3.3 |
8. | Bank of Montreal (Canada) | 3.2 |
9. | Bank of Nova Scotia (The) (Canada) | 2.8 |
10. | Suncor Energy, Inc. (Canada) | 2.5 |
PORTFOLIO COMPOSITION BY SECTOR AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Financials | 32.9% |
Energy | 18.6 |
Industrials | 14.0 |
Materials | 9.8 |
Information Technology | 7.4 |
Consumer Staples | 4.7 |
Consumer Discretionary | 3.7 |
Utilities | 3.0 |
Communication Services | 2.1 |
Others (each less than 1.0%) | 0.6 |
Short-Term Investments | 3.2 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 3 |
4 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INCEPTION DATE | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
JPMorgan BetaBuilders Canada ETF | ||||
Net Asset Value | August 7, 2018 | (1.15 )% | 6.77 % | 4.74 % |
Market Price | (1.22 ) | 6.75 | 4.74 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 5 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | 5.55% |
Market Price ** | 5.45% |
Morningstar® Developed Asia Pacific ex-Japan Target Market Exposure IndexSM (net total return) | 5.35% |
Net Assets as of 10/31/2023 | $3,809,902,516 |
Fund Ticker | BBAX |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | BHP Group Ltd. (Australia) | 9.0 % |
2. | Commonwealth Bank of Australia (Australia) | 6.5 |
3. | AIA Group Ltd. (Hong Kong) | 6.3 |
4. | CSL Ltd. | 4.5 |
5. | National Australia Bank Ltd. (Australia) | 3.5 |
6. | ANZ Group Holdings Ltd. (Australia) | 3.0 |
7. | Westpac Banking Corp. (Australia) | 2.9 |
8. | DBS Group Holdings Ltd. (Singapore) | 2.8 |
9. | Hong Kong Exchanges & Clearing Ltd. (Hong Kong) | 2.6 |
10. | Woodside Energy Group Ltd. (Australia) | 2.6 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Australia | 59.8% |
Hong Kong | 17.3 |
Singapore | 11.3 |
United States | 5.2 |
China | 2.4 |
New Zealand | 1.7 |
Macau | 1.1 |
Others (each less than 1.0%) | 0.9 |
Short-Term Investments | 0.3 |
6 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 7 |
INCEPTION DATE | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF | ||||
Net Asset Value | August 7, 2018 | 5.55 % | 3.56 % | 1.34 % |
Market Price | 5.45 | 3.54 | 1.33 |
8 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | (4.88)% |
Market Price ** | (4.67)% |
Morningstar® Emerging Markets Target Market Exposure IndexSM (net total return) | (4.68)% |
Net Assets as of 10/31/2023 | $483,405,614 |
Fund Ticker | BBEM |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) | 6.0 % |
2. | Samsung Electronics Co. Ltd. (South Korea) | 3.9 |
3. | Tencent Holdings Ltd. (China) | 3.5 |
4. | Alibaba Group Holding Ltd. (China) | 2.4 |
5. | HDFC Bank Ltd. (India) | 1.5 |
6. | Reliance Industries Ltd. (India) | 1.4 |
7. | International Holding Co. PJSC (United Arab Emirates) | 1.4 |
8. | PDD Holdings, Inc., ADR (China) | 1.1 |
9. | Meituan (China) | 0.9 |
10. | Infosys Ltd. (India) | 0.9 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
China | 27.8% |
India | 17.2 |
Taiwan | 15.0 |
South Korea | 11.8 |
Brazil | 5.1 |
Saudi Arabia | 3.8 |
United Arab Emirates | 3.0 |
South Africa | 2.8 |
Indonesia | 2.1 |
Mexico | 2.0 |
Thailand | 1.7 |
Malaysia | 1.6 |
Others (each less than 1.0%) | 5.2 |
Short-Term Investments | 0.9 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 9 |
10 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INCEPTION DATE | CUMULATIVE SINCE INCEPTION | |
JPMorgan BetaBuilders Emerging Markets Equity ETF | ||
Net Asset Value | May 10, 2023 | (4.88 )% |
Market Price | (4.67 ) |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 11 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | 16.74% |
Market Price ** | 16.81% |
Morningstar® Developed Europe Target Market Exposure IndexSM (net total return) | 15.92% |
Net Assets as of 10/31/2023 | $5,143,360,575 |
Fund Ticker | BBEU |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Novo Nordisk A/S, Class B (Denmark) | 3.4 % |
2. | Nestle SA (Registered) | 3.1 |
3. | ASML Holding NV (Netherlands) | 2.6 |
4. | Shell plc (Netherlands) | 2.3 |
5. | AstraZeneca plc (United Kingdom) | 2.1 |
6. | Novartis AG (Registered) (Switzerland) | 2.1 |
7. | LVMH Moet Hennessy Louis Vuitton SE (France) | 2.0 |
8. | Roche Holding AG | 1.9 |
9. | TotalEnergies SE (France) | 1.7 |
10. | HSBC Holdings plc (United Kingdom) | 1.6 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
United Kingdom | 18.0% |
France | 15.3 |
Germany | 11.9 |
United States | 9.9 |
Switzerland | 8.6 |
Netherlands | 8.3 |
Denmark | 5.1 |
Sweden | 4.8 |
Italy | 3.8 |
Spain | 3.8 |
Finland | 1.8 |
Australia | 1.7 |
Belgium | 1.4 |
Norway | 1.2 |
Others (each less than 1.0%) | 3.6 |
Short-Term Investments | 0.8 |
12 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 13 |
INCEPTION DATE | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
JPMorgan BetaBuilders Europe ETF | ||||
Net Asset Value | June 15, 2018 | 16.74 % | 5.24 % | 3.10 % |
Market Price | 16.81 | 5.21 | 3.11 |
14 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | 15.69% |
Market Price ** | 16.04% |
Morningstar® Developed Markets ex-North America Target Market Exposure IndexSM (net total return) | 14.66% |
Net Assets as of 10/31/2023 | $3,560,296,677 |
Fund Ticker | BBIN |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Novo Nordisk A/S, Class B (Denmark) | 2.1 % |
2. | Nestle SA (Registered) | 2.0 |
3. | ASML Holding NV (Netherlands) | 1.7 |
4. | Toyota Motor Corp. (Japan) | 1.5 |
5. | Shell plc (Netherlands) | 1.5 |
6. | AstraZeneca plc (United Kingdom) | 1.3 |
7. | Novartis AG (Registered) (Switzerland) | 1.3 |
8. | LVMH Moet Hennessy Louis Vuitton SE (France) | 1.3 |
9. | Roche Holding AG | 1.2 |
10. | TotalEnergies SE (France) | 1.1 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Japan | 24.9% |
United Kingdom | 11.5 |
France | 9.7 |
Australia | 7.6 |
Germany | 7.5 |
United States | 6.8 |
Switzerland | 5.4 |
Netherlands | 5.3 |
Denmark | 3.3 |
Sweden | 3.1 |
Italy | 2.4 |
Spain | 2.4 |
Hong Kong | 2.1 |
Singapore | 1.4 |
Finland | 1.2 |
Others (each less than 1.0%) | 4.3 |
Short-Term Investments | 1.1 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 15 |
16 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INCEPTION DATE | 1 YEAR | SINCE INCEPTION | |
JPMorgan BetaBuilders International Equity ETF | |||
Net Asset Value | December 3, 2019 | 15.69 % | 2.91 % |
Market Price | 16.04 | 3.00 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 17 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | 18.51% |
Market Price ** | 19.65% |
Morningstar® Japan Target Market Exposure IndexSM (net total return) | 16.83% |
Net Assets as of 10/31/2023 | $8,797,309,934 |
Fund Ticker | BBJP |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Toyota Motor Corp. (Japan) | 5.9 % |
2. | Mitsubishi UFJ Financial Group, Inc. (Japan) | 2.9 |
3. | Sony Group Corp. (Japan) | 2.9 |
4. | Keyence Corp. (Japan) | 2.1 |
5. | Mitsubishi Corp. (Japan) | 1.8 |
6. | Sumitomo Mitsui Financial Group, Inc. (Japan) | 1.8 |
7. | Tokyo Electron Ltd. (Japan) | 1.7 |
8. | Shin-Etsu Chemical Co. Ltd. (Japan) | 1.7 |
9. | Hitachi Ltd. (Japan) | 1.6 |
10. | Mitsui & Co. Ltd. (Japan) | 1.5 |
PORTFOLIO COMPOSITION BY SECTOR AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Industrials | 23.0% |
Consumer Discretionary | 19.8 |
Financials | 12.9 |
Information Technology | 12.5 |
Health Care | 8.1 |
Communication Services | 6.8 |
Consumer Staples | 6.4 |
Materials | 4.9 |
Real Estate | 3.5 |
Utilities | 1.1 |
Others (each less than 1.0%) | 0.9 |
Short-Term Investments | 0.1 |
18 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 19 |
INCEPTION DATE | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
JPMorgan BetaBuilders Japan ETF | ||||
Net Asset Value | June 15, 2018 | 18.51 % | 3.11 % | 1.23 % |
Market Price | 19.65 | 3.36 | 1.43 |
20 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | 10.25% |
Market Price ** | 10.20% |
Morningstar® US Target Market Exposure IndexSM | 10.28% |
Net Assets as of 10/31/2023 | $2,173,038,499 |
Fund Ticker | BBUS |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Microsoft Corp. | 6.7 % |
2. | Apple, Inc. | 6.7 |
3. | Amazon.com, Inc. | 3.2 |
4. | NVIDIA Corp. | 2.7 |
5. | Alphabet, Inc., Class A | 2.0 |
6. | Meta Platforms, Inc., Class A | 1.8 |
7. | Alphabet, Inc., Class C | 1.7 |
8. | Berkshire Hathaway, Inc., Class B | 1.7 |
9. | Tesla, Inc. | 1.5 |
10. | UnitedHealth Group, Inc. | 1.3 |
PORTFOLIO COMPOSITION BY SECTOR AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Information Technology | 27.7% |
Health Care | 12.7 |
Financials | 12.4 |
Consumer Discretionary | 10.3 |
Communication Services | 8.4 |
Industrials | 8.2 |
Consumer Staples | 6.2 |
Energy | 4.4 |
Utilities | 2.4 |
Materials | 2.3 |
Real Estate | 2.3 |
Short-Term Investments | 2.7 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 21 |
22 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INCEPTION DATE | 1 YEAR | SINCE INCEPTION | |
JPMorgan BetaBuilders U.S. Equity ETF | |||
Net Asset Value | March 12, 2019 | 10.25 % | 10.81 % |
Market Price | 10.20 | 10.81 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 23 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | (2.57)% |
Market Price ** | (2.39)% |
Morningstar® US Mid Cap Target Market Exposure Extended IndexSM | (2.62)% |
Net Assets as of 10/31/2023 | $1,414,162,491 |
Fund Ticker | BBMC |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | First Citizens BancShares, Inc., Class A | 0.5 % |
2. | Ares Management Corp. | 0.5 |
3. | Jabil, Inc. | 0.5 |
4. | Deckers Outdoor Corp. | 0.5 |
5. | Reliance Steel & Aluminum Co. | 0.5 |
6. | Axon Enterprise, Inc. | 0.5 |
7. | Vertiv Holdings Co. | 0.4 |
8. | Builders FirstSource, Inc. | 0.5 |
9. | DraftKings, Inc., Class A | 0.4 |
10. | Carlisle Cos., Inc. | 0.4 |
PORTFOLIO COMPOSITION BY SECTOR AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Industrials | 19.8% |
Financials | 13.4 |
Consumer Discretionary | 11.9 |
Information Technology | 10.5 |
Health Care | 9.1 |
Materials | 5.7 |
Real Estate | 5.5 |
Energy | 5.1 |
Consumer Staples | 3.8 |
Utilities | 2.5 |
Communication Services | 1.9 |
Short-Term Investments | 10.8 |
24 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 25 |
INCEPTION DATE | 1 YEAR | SINCE INCEPTION | |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | |||
Net Asset Value | April 14, 2020 | (2.57 )% | 11.21 % |
Market Price | (2.39 ) | 11.21 |
26 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | (8.15)% |
Market Price ** | (7.81)% |
Morningstar® US Small Cap Target Market Exposure Extended IndexSM | (8.18)% |
Net Assets as of 10/31/2023 | $623,722,887 |
Fund Ticker | BBSC |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Patterson-UTI Energy, Inc. | 0.3 % |
2. | Wayfair, Inc., Class A | 0.3 |
3. | Equitrans Midstream Corp. | 0.3 |
4. | Affirm Holdings, Inc. | 0.3 |
5. | FTAI Aviation Ltd. | 0.3 |
6. | Boise Cascade Co. | 0.3 |
7. | Varonis Systems, Inc. | 0.3 |
8. | Appfolio, Inc., Class A | 0.3 |
9. | SPX Technologies, Inc. | 0.3 |
10. | Insmed, Inc. | 0.3 |
PORTFOLIO COMPOSITION BY SECTOR AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Financials | 16.6% |
Industrials | 14.2 |
Information Technology | 11.5 |
Health Care | 11.1 |
Consumer Discretionary | 10.6 |
Real Estate | 6.7 |
Energy | 5.0 |
Consumer Staples | 3.0 |
Communication Services | 2.9 |
Materials | 2.8 |
Others (each less than 1.0%) | 0.8 |
Short-Term Investments | 14.8 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 27 |
28 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INCEPTION DATE | 1 YEAR | SINCE INCEPTION | |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF | |||
Net Asset Value | November 16, 2020 | (8.15 )% | 0.00 % |
Market Price | (7.81 ) | (0.05 ) |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 29 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | 9.85% |
Market Price ** | 9.85% |
JPMorgan Asset Management Carbon Transition U.S. Equity Index | 9.99% |
Russell 1000 Index | 9.48% |
Net Assets as of 10/31/2023 | $5,673,139 |
Fund Ticker | JCTR |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Apple, Inc. | 6.9 % |
2. | Microsoft Corp. | 6.4 |
3. | Alphabet, Inc., Class A | 3.4 |
4. | Amazon.com, Inc. | 2.9 |
5. | NVIDIA Corp. | 2.8 |
6. | Tesla, Inc. | 1.7 |
7. | UnitedHealth Group, Inc. | 1.6 |
8. | Eli Lilly & Co. | 1.5 |
9. | Meta Platforms, Inc., Class A | 1.5 |
10. | Exxon Mobil Corp. | 1.4 |
PORTFOLIO COMPOSITION BY SECTOR AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Information Technology | 29.2% |
Financials | 14.2 |
Health Care | 13.8 |
Consumer Discretionary | 10.4 |
Communication Services | 8.1 |
Industrials | 7.9 |
Consumer Staples | 5.3 |
Energy | 4.3 |
Real Estate | 2.6 |
Utilities | 2.2 |
Materials | 1.8 |
Short-Term Investments | 0.2 |
30 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 31 |
INCEPTION DATE | 1 YEAR | SINCE INCEPTION | |
JPMorgan Carbon Transition U.S. Equity ETF | |||
Net Asset Value | December 9, 2020 | 9.85 % | 6.36 % |
Market Price | 9.85 | 6.36 |
32 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | 9.72% |
Market Price ** | 8.78% |
JP Morgan Diversified Factor Emerging Markets Equity Index (net total return) | 10.44% |
FTSE Emerging Index (net total return) | 10.91% |
Net Assets as of 10/31/2023 | $269,498,902 |
Fund Ticker | JPEM |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 33 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Infosys Ltd. (India) | 1.6 % |
2. | Petroleo Brasileiro SA (Preference) (Brazil) | 1.2 |
3. | Vale SA (Brazil) | 1.2 |
4. | Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) | 1.1 |
5. | Hindustan Unilever Ltd. (India) | 1.0 |
6. | Grupo Financiero Banorte SAB de CV, Class O (Mexico) | 0.9 |
7. | Tata Consultancy Services Ltd. (India) | 0.9 |
8. | Bank of China Ltd., Class H (China) | 0.9 |
9. | Saudi Arabian Oil Co. (Saudi Arabia) | 0.8 |
10. | Reliance Industries Ltd. (India) | 0.8 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
China | 22.9% |
Taiwan | 11.4 |
India | 11.0 |
Turkey | 9.4 |
Brazil | 8.9 |
Mexico | 7.5 |
Saudi Arabia | 4.8 |
Indonesia | 4.3 |
Thailand | 3.7 |
South Africa | 3.1 |
United Arab Emirates | 2.4 |
Malaysia | 2.1 |
Greece | 1.7 |
Qatar | 1.7 |
Kuwait | 1.5 |
Chile | 1.2 |
Others (each less than 1.0%) | 2.4 |
34 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INCEPTION DATE | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
JPMorgan Diversified Return Emerging Markets Equity ETF | ||||
Net Asset Value | January 7, 2015 | 9.72 % | 2.80 % | 2.81 % |
Market Price | 8.78 | 2.78 | 2.78 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 35 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | 15.19% |
Market Price ** | 15.26% |
JP Morgan Diversified Factor International Equity Index (net total return) | 14.85% |
FTSE Developed ex North America Index (net total return) | 14.09% |
Net Assets as of 10/31/2023 | $353,175,379 |
Fund Ticker | JPIN |
36 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | BAE Systems plc (United Kingdom) | 0.5 % |
2. | Deutsche Telekom AG (Registered) (Germany) | 0.4 |
3. | Novo Nordisk A/S, Class B (Denmark) | 0.4 |
4. | Japan Tobacco, Inc. (Japan) | 0.4 |
5. | GSK plc | 0.4 |
6. | Wolters Kluwer NV (Netherlands) | 0.4 |
7. | Lenovo Group Ltd. (China) | 0.4 |
8. | Origin Energy Ltd. (Australia) | 0.4 |
9. | TotalEnergies SE (France) | 0.4 |
10. | HSBC Holdings plc (United Kingdom) | 0.4 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Japan | 29.4% |
United Kingdom | 15.9 |
Australia | 11.0 |
South Korea | 6.9 |
France | 4.7 |
Singapore | 3.5 |
Netherlands | 3.3 |
United States | 3.1 |
Hong Kong | 3.0 |
Italy | 2.5 |
Germany | 2.5 |
Spain | 2.4 |
Sweden | 2.1 |
Switzerland | 1.4 |
China | 1.2 |
Norway | 1.1 |
Finland | 1.1 |
Others (each less than 1.0%) | 4.2 |
Short-Term Investments | 0.7 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 37 |
INCEPTION DATE | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
JPMorgan Diversified Return International Equity ETF | ||||
Net Asset Value | November 5, 2014 | 15.19 % | 2.16 % | 2.79 % |
Market Price | 15.26 | 2.26 | 2.81 |
38 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | (0.34)% |
Market Price ** | (0.45)% |
JP Morgan Diversified Factor US Equity Index | (0.17)% |
Russell 1000 Index | 9.48% |
Net Assets as of 10/31/2023 | $420,166,041 |
Fund Ticker | JPUS |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Casey's General Stores, Inc. | 0.5 % |
2. | McKesson Corp. | 0.5 |
3. | Progressive Corp. (The) | 0.4 |
4. | UnitedHealth Group, Inc. | 0.4 |
5. | Cencora, Inc. | 0.4 |
6. | T-Mobile US, Inc. | 0.4 |
7. | United States Steel Corp. | 0.4 |
8. | Marathon Petroleum Corp. | 0.4 |
9. | Vertex Pharmaceuticals, Inc. | 0.4 |
10. | Vistra Corp. | 0.4 |
PORTFOLIO COMPOSITION BY SECTOR AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Consumer Staples | 14.3% |
Utilities | 11.0 |
Health Care | 10.5 |
Industrials | 9.3 |
Real Estate | 8.7 |
Consumer Discretionary | 8.3 |
Financials | 8.2 |
Technology | 7.2 |
Basic Materials | 6.7 |
Energy | 5.9 |
Telecommunications | 5.2 |
Short-Term Investments | 4.7 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 39 |
40 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INCEPTION DATE | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
JPMorgan Diversified Return U.S. Equity ETF | ||||
Net Asset Value | September 29, 2015 | (0.34 )% | 7.83 % | 9.72 % |
Market Price | (0.45 ) | 7.82 | 9.72 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 41 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | (1.78)% |
Market Price ** | (1.85)% |
JP Morgan Diversified Factor US Mid Cap Equity Index | (1.57)% |
Russell Midcap Index | (1.01)% |
Net Assets as of 10/31/2023 | $310,063,947 |
Fund Ticker | JPME |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Casey's General Stores, Inc. | 0.5 % |
2. | United States Steel Corp. | 0.4 |
3. | Jabil, Inc. | 0.4 |
4. | Cencora, Inc. | 0.4 |
5. | Diamondback Energy, Inc. | 0.4 |
6. | Vistra Corp. | 0.4 |
7. | Chemed Corp. | 0.4 |
8. | Republic Services, Inc. | 0.4 |
9. | Cardinal Health, Inc. | 0.4 |
10. | Aflac, Inc. | 0.4 |
PORTFOLIO COMPOSITION BY SECTOR AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Utilities | 10.8% |
Industrials | 10.0 |
Real Estate | 9.9 |
Health Care | 9.7 |
Consumer Discretionary | 9.2 |
Financials | 9.0 |
Consumer Staples | 8.9 |
Technology | 7.8 |
Basic Materials | 7.5 |
Energy | 6.6 |
Telecommunications | 2.7 |
Short-Term Investments | 7.9 |
42 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 43 |
INCEPTION DATE | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
JPMorgan Diversified Return U.S. Mid Cap Equity ETF | ||||
Net Asset Value | May 11, 2016 | (1.78 )% | 7.15 % | 8.30 % |
Market Price | (1.85 ) | 7.12 | 8.28 |
44 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | (4.55)% |
Market Price ** | (4.77)% |
JP Morgan Diversified Factor US Small Cap Equity Index | (4.35)% |
Russell 2000 Index | (8.56)% |
Net Assets as of 10/31/2023 | $386,208,306 |
Fund Ticker | JPSE |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Hostess Brands, Inc. | 0.4 % |
2. | GEO Group, Inc. (The) | 0.3 |
3. | Teekay Tankers Ltd., Class A (Canada) | 0.3 |
4. | Sprouts Farmers Market, Inc. | 0.3 |
5. | BellRing Brands, Inc. | 0.3 |
6. | Sabra Health Care REIT, Inc. | 0.3 |
7. | CareTrust REIT, Inc. | 0.3 |
8. | Apple Hospitality REIT, Inc. | 0.3 |
9. | Phillips Edison & Co., Inc. | 0.3 |
10. | Simply Good Foods Co. (The) | 0.3 |
PORTFOLIO COMPOSITION BY SECTOR AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Financials | 11.1% |
Real Estate | 10.9 |
Industrials | 10.6 |
Consumer Discretionary | 8.8 |
Technology | 8.1 |
Health Care | 8.1 |
Consumer Staples | 7.9 |
Basic Materials | 7.9 |
Energy | 6.2 |
Utilities | 4.6 |
Telecommunications | 4.4 |
Short-Term Investments | 11.4 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 45 |
46 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INCEPTION DATE | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
JPMorgan Diversified Return U.S. Small Cap Equity ETF | ||||
Net Asset Value | November 15, 2016 | (4.55 )% | 6.31 % | 7.29 % |
Market Price | (4.77 ) | 6.30 | 7.28 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 47 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | 6.10% |
Market Price ** | 6.02% |
JP Morgan US Momentum Factor Index | 6.21% |
Russell 1000 Growth Index | 18.95% |
Russell 1000 Index | 9.48% |
Net Assets as of 10/31/2023 | $301,926,586 |
Fund Ticker | JMOM |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Meta Platforms, Inc., Class A | 2.2 % |
2. | Eli Lilly & Co. | 2.2 |
3. | Microsoft Corp. | 2.1 |
4. | Apple, Inc. | 1.9 |
5. | Berkshire Hathaway, Inc., Class B | 1.9 |
6. | NVIDIA Corp. | 1.8 |
7. | Broadcom, Inc. | 1.8 |
8. | UnitedHealth Group, Inc. | 1.8 |
9. | Home Depot, Inc. (The) | 1.5 |
10. | Costco Wholesale Corp. | 1.4 |
PORTFOLIO COMPOSITION BY SECTOR AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Technology | 30.7% |
Consumer Discretionary | 13.8 |
Industrials | 12.7 |
Health Care | 12.6 |
Financials | 10.4 |
Consumer Staples | 5.3 |
Energy | 4.6 |
Utilities | 2.8 |
Real Estate | 2.6 |
Telecommunications | 2.4 |
Basic Materials | 1.9 |
Short-Term Investments | 0.2 |
48 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 49 |
INCEPTION DATE | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
JPMorgan U.S. Momentum Factor ETF | ||||
Net Asset Value | November 8, 2017 | 6.10 % | 10.23 % | 9.41 % |
Market Price | 6.02 | 10.22 | 9.41 |
50 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | 12.15% |
Market Price ** | 12.14% |
JP Morgan US Quality Factor Index | 12.24% |
Russell 1000 Index | 9.48% |
Net Assets as of 10/31/2023 | $2,402,223,606 |
Fund Ticker | JQUA |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Meta Platforms, Inc., Class A | 2.1 % |
2. | Eli Lilly & Co. | 2.0 |
3. | Microsoft Corp. | 2.0 |
4. | Visa, Inc., Class A | 1.9 |
5. | Alphabet, Inc., Class A | 1.9 |
6. | Apple, Inc. | 1.9 |
7. | Berkshire Hathaway, Inc., Class B | 1.9 |
8. | NVIDIA Corp. | 1.7 |
9. | Broadcom, Inc. | 1.7 |
10. | Procter & Gamble Co. (The) | 1.6 |
PORTFOLIO COMPOSITION BY SECTOR AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Technology | 29.7% |
Consumer Discretionary | 13.4 |
Industrials | 12.2 |
Health Care | 12.2 |
Financials | 9.7 |
Consumer Staples | 5.1 |
Energy | 4.4 |
Utilities | 2.6 |
Real Estate | 2.6 |
Telecommunications | 2.3 |
Basic Materials | 1.9 |
Short-Term Investments | 3.9 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 51 |
52 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INCEPTION DATE | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
JPMorgan U.S. Quality Factor ETF | ||||
Net Asset Value | November 8, 2017 | 12.15 % | 11.46 % | 10.95 % |
Market Price | 12.14 | 11.47 | 10.95 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 53 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | 4.11% |
Market Price ** | 4.11% |
JP Morgan US Value Factor Index | 4.17% |
Russell 1000 Value Index | 0.13% |
Russell 1000 Index | 9.48% |
Net Assets as of 10/31/2023 | $683,645,621 |
Fund Ticker | JVAL |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Meta Platforms, Inc., Class A | 2.1 % |
2. | UnitedHealth Group, Inc. | 2.1 |
3. | Microsoft Corp. | 2.1 |
4. | Alphabet, Inc., Class A | 1.9 |
5. | Apple, Inc. | 1.9 |
6. | Broadcom, Inc. | 1.7 |
7. | Johnson & Johnson | 1.5 |
8. | Merck & Co., Inc. | 1.4 |
9. | Cisco Systems, Inc. | 1.0 |
10. | Salesforce, Inc. | 0.9 |
PORTFOLIO COMPOSITION BY SECTOR AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Technology | 29.4% |
Consumer Discretionary | 12.9 |
Health Care | 12.5 |
Industrials | 12.2 |
Financials | 9.2 |
Consumer Staples | 5.1 |
Energy | 4.6 |
Utilities | 2.6 |
Real Estate | 2.5 |
Telecommunications | 2.3 |
Basic Materials | 1.8 |
Short-Term Investments | 4.9 |
54 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 55 |
INCEPTION DATE | 1 YEAR | 5 YEAR | SINCE INCEPTION | |
JPMorgan U.S. Value Factor ETF | ||||
Net Asset Value | November 8, 2017 | 4.11 % | 8.49 % | 7.60 % |
Market Price | 4.11 | 8.48 | 7.59 |
56 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 99.5% | ||
Aerospace & Defense — 0.4% | ||
CAE, Inc. * | 1,092,243 | 22,809,704 |
Automobile Components — 0.8% | ||
Magna International, Inc. | 914,136 | 43,928,627 |
Banks — 22.3% | ||
Bank of Montreal (a) | 2,447,960 | 184,980,515 |
Bank of Nova Scotia (The) | 4,113,591 | 166,560,761 |
Canadian Imperial Bank of Commerce | 3,153,929 | 111,237,546 |
National Bank of Canada | 1,160,323 | 72,142,094 |
Royal Bank of Canada (a) | 4,793,299 | 382,841,750 |
Toronto-Dominion Bank (The) | 6,303,018 | 352,069,064 |
1,269,831,730 | ||
Broadline Retail — 1.5% | ||
Canadian Tire Corp. Ltd., Class A (a) | 180,301 | 17,391,067 |
Dollarama, Inc. | 970,463 | 66,272,108 |
83,663,175 | ||
Capital Markets — 3.6% | ||
Brookfield Asset Management Ltd., Class A | 1,189,854 | 34,106,145 |
Brookfield Corp. | 4,996,294 | 145,556,357 |
IGM Financial, Inc. | 277,906 | 6,256,517 |
TMX Group Ltd. | 956,717 | 19,924,274 |
205,843,293 | ||
Chemicals — 1.6% | ||
Nutrien Ltd. | 1,697,733 | 91,182,372 |
Commercial Services & Supplies — 3.1% | ||
GFL Environmental, Inc. | 709,750 | 20,446,737 |
RB Global, Inc. | 624,548 | 40,870,908 |
Waste Connections, Inc. (a) | 884,504 | 114,527,880 |
175,845,525 | ||
Construction & Engineering — 1.0% | ||
WSP Global, Inc. | 427,836 | 55,992,757 |
Consumer Staples Distribution & Retail — 4.5% | ||
Alimentation Couche-Tard, Inc. | 2,548,982 | 138,757,996 |
Empire Co. Ltd., Class A | 532,697 | 14,597,069 |
George Weston Ltd. | 208,047 | 22,566,742 |
Loblaw Cos. Ltd. | 511,385 | 41,825,338 |
Metro, Inc. | 789,715 | 40,113,593 |
257,860,738 | ||
Containers & Packaging — 0.3% | ||
CCL Industries, Inc., Class B | 494,913 | 19,350,411 |
INVESTMENTS | SHARES | VALUE($) |
Diversified Telecommunication Services — 1.3% | ||
BCE, Inc. | 1,033,575 | 38,369,166 |
Quebecor, Inc., Class B | 528,577 | 10,905,057 |
TELUS Corp. | 1,639,195 | 26,430,431 |
75,704,654 | ||
Electric Utilities — 2.2% | ||
Emera, Inc. (a) | 936,928 | 30,687,052 |
Fortis, Inc. (a) | 1,670,257 | 66,316,460 |
Hydro One Ltd. (b) | 1,090,099 | 28,267,503 |
125,271,015 | ||
Financial Services — 0.1% | ||
Nuvei Corp. (c) | 214,834 | 2,991,487 |
Food Products — 0.3% | ||
Saputo, Inc. | 841,592 | 16,992,663 |
Gas Utilities — 0.3% | ||
AltaGas Ltd. | 967,208 | 17,966,669 |
Ground Transportation — 8.3% | ||
Canadian National Railway Co. | 2,025,712 | 214,337,640 |
Canadian Pacific Kansas City Ltd. | 3,197,909 | 227,053,268 |
TFI International, Inc. | 276,897 | 30,631,887 |
472,022,795 | ||
Health Care Equipment & Supplies — 0.0% ^ | ||
Bausch + Lomb Corp. * | 132,432 | 2,125,788 |
Hotels, Restaurants & Leisure — 1.3% | ||
Restaurant Brands International, Inc. | 1,072,136 | 72,016,923 |
Independent Power and Renewable Electricity Producers — 0.2% | ||
Brookfield Renewable Corp. | 456,415 | 10,383,914 |
Insurance — 7.8% | ||
Fairfax Financial Holdings Ltd. | 77,067 | 64,133,860 |
Great-West Lifeco, Inc. | 927,141 | 25,686,502 |
iA Financial Corp., Inc. | 351,820 | 20,471,142 |
Intact Financial Corp. | 601,704 | 84,540,117 |
Manulife Financial Corp. | 6,278,449 | 109,292,777 |
Power Corp. of Canada (a) | 1,914,179 | 46,116,979 |
Sun Life Financial, Inc. | 2,015,067 | 92,038,467 |
442,279,844 | ||
IT Services — 4.6% | ||
CGI, Inc. * | 717,297 | 69,249,484 |
Shopify, Inc., Class A * | 4,105,093 | 193,865,182 |
263,114,666 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 57 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Metals & Mining — 7.9% | ||
Agnico Eagle Mines Ltd. | 1,698,976 | 79,683,720 |
Barrick Gold Corp. | 6,026,700 | 96,262,055 |
First Quantum Minerals Ltd. | 1,927,702 | 22,338,685 |
Franco-Nevada Corp. | 659,380 | 80,214,463 |
Ivanhoe Mines Ltd., Class A * (a) | 1,966,312 | 14,491,227 |
Kinross Gold Corp. | 4,214,412 | 22,002,771 |
Lundin Mining Corp. | 2,255,331 | 14,084,129 |
Teck Resources Ltd., Class B | 1,581,777 | 55,891,165 |
Wheaton Precious Metals Corp. | 1,554,680 | 65,662,598 |
450,630,813 | ||
Multi-Utilities — 0.4% | ||
Algonquin Power & Utilities Corp. (a) | 2,364,847 | 11,903,106 |
Canadian Utilities Ltd., Class A (a) | 415,551 | 8,791,971 |
20,695,077 | ||
Oil, Gas & Consumable Fuels — 19.2% | ||
ARC Resources Ltd. | 2,092,277 | 33,660,501 |
Cameco Corp. | 1,487,616 | 60,856,287 |
Canadian Natural Resources Ltd. | 3,750,649 | 238,169,930 |
Cenovus Energy, Inc. | 4,622,857 | 88,073,468 |
Enbridge, Inc. | 7,251,475 | 232,381,863 |
Imperial Oil Ltd. (a) | 601,667 | 34,288,619 |
Keyera Corp. (a) | 786,704 | 18,295,442 |
Pembina Pipeline Corp. | 1,885,493 | 58,029,812 |
Suncor Energy, Inc. | 4,496,317 | 145,613,554 |
TC Energy Corp. | 3,534,406 | 121,725,784 |
Tourmaline Oil Corp. | 1,095,340 | 57,920,521 |
1,089,015,781 | ||
Paper & Forest Products — 0.2% | ||
West Fraser Timber Co. Ltd. | 206,535 | 13,938,785 |
Passenger Airlines — 0.3% | ||
Air Canada * | 1,156,818 | 13,956,059 |
Professional Services — 1.1% | ||
Thomson Reuters Corp. | 514,406 | 61,617,494 |
Real Estate Management & Development — 0.4% | ||
FirstService Corp. | 140,834 | 19,928,506 |
Residential REITs — 0.2% | ||
Canadian Apartment Properties | 281,629 | 8,289,955 |
Retail REITs — 0.1% | ||
RioCan (a) | 504,535 | 6,130,460 |
INVESTMENTS | SHARES | VALUE($) |
Software — 2.9% | ||
Constellation Software, Inc. | 67,673 | 135,663,686 |
Open Text Corp. | 931,017 | 31,084,253 |
166,747,939 | ||
Textiles, Apparel & Luxury Goods — 0.3% | ||
Gildan Activewear, Inc. | 602,763 | 17,121,208 |
Trading Companies & Distributors — 0.2% | ||
Finning International, Inc. | 509,538 | 13,653,818 |
Wireless Telecommunication Services — 0.8% | ||
Rogers Communications, Inc., Class B | 1,275,409 | 47,254,743 |
Total Common Stocks (Cost $5,430,073,969) | 5,656,159,388 | |
NO. OF WARRANTS | VALUE ($) | |
Warrants — 0.0% ^ | ||
Software — 0.0% ^ | ||
Constellation Software, Inc., Zero Coupon, 3/31/2040 ‡ * (Cost $-) | 65,101 | — |
SHARES | VALUE($) | |
Short-Term Investments — 3.2% | ||
Investment of Cash Collateral from Securities Loaned — 3.2% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.53% (d) (e) | 104,268,170 | 104,289,023 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (d) (e) | 80,082,808 | 80,082,808 |
Total Investment of Cash Collateral from Securities Loaned (Cost $184,371,831) | 184,371,831 | |
Total Investments — 102.7% (Cost $5,614,445,800) | 5,840,531,219 | |
Liabilities in Excess of Other Assets — (2.7)% | (153,556,507 ) | |
NET ASSETS — 100.0% | 5,686,974,712 |
Percentages indicated are based on net assets. |
Abbreviations | |
REIT | Real Estate Investment Trust |
^ | Amount rounds to less than 0.1% of net assets. |
58 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
‡ | Value determined using significant unobservable inputs. | |
* | Non-income producing security. | |
(a) | The security or a portion of this security is on loan at October 31, 2023. The total value of securities on loan at October 31, 2023 is $174,280,525. | |
(b) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. |
(c) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. | |
(d) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(e) | The rate shown is the current yield as of October 31, 2023. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P / TSX 60 Index | 184 | 12/14/2023 | CAD | 30,108,729 | (957,068 ) |
Abbreviations | |
CAD | Canadian Dollar |
TSX | Toronto Stock Exchange |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 59 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 99.6% | ||
Australia — 59.8% | ||
Ampol Ltd. | 570,069 | 11,559,719 |
ANZ Group Holdings Ltd. | 7,189,286 | 113,367,695 |
APA Group | 3,012,528 | 15,791,494 |
Aristocrat Leisure Ltd. | 1,553,039 | 38,173,867 |
ASX Ltd. | 463,120 | 16,546,159 |
Atlas Arteria Ltd. | 2,707,149 | 9,151,849 |
Aurizon Holdings Ltd. | 4,403,356 | 9,591,011 |
Bendigo & Adelaide Bank Ltd. | 1,359,478 | 7,532,053 |
BHP Group Ltd. | 12,118,522 | 343,044,780 |
BlueScope Steel Ltd. | 1,089,811 | 13,064,067 |
Brambles Ltd. | 3,323,513 | 27,737,225 |
Cochlear Ltd. | 157,068 | 24,074,463 |
Coles Group Ltd. | 3,201,719 | 31,074,893 |
Commonwealth Bank of Australia | 4,009,753 | 246,663,584 |
Computershare Ltd. | 1,372,036 | 21,653,410 |
Dexus, REIT | 2,572,980 | 10,626,896 |
Endeavour Group Ltd. | 3,256,148 | 10,229,017 |
Fortescue Metals Group Ltd. | 4,051,047 | 57,629,504 |
Goodman Group, REIT | 4,100,914 | 54,262,922 |
GPT Group (The), REIT | 4,582,468 | 10,575,553 |
IDP Education Ltd. | 665,839 | 9,199,478 |
IGO Ltd. | 1,612,276 | 9,762,933 |
Incitec Pivot Ltd. | 4,646,216 | 8,110,828 |
Insurance Australia Group Ltd. | 5,838,305 | 21,061,909 |
LendLease Corp. Ltd. | 1,649,005 | 6,530,874 |
Lottery Corp. Ltd. (The) | 5,324,520 | 15,369,599 |
Macquarie Group Ltd. | 859,818 | 88,380,671 |
Medibank Pvt Ltd. | 6,588,161 | 14,377,204 |
Mineral Resources Ltd. | 414,064 | 15,261,256 |
Mirvac Group, REIT | 9,439,337 | 10,952,027 |
National Australia Bank Ltd. | 7,510,379 | 134,542,848 |
Northern Star Resources Ltd. | 2,755,123 | 20,175,172 |
Orica Ltd. | 1,089,634 | 10,181,459 |
Origin Energy Ltd. | 4,121,180 | 23,906,362 |
Pilbara Minerals Ltd. (a) | 6,742,204 | 15,837,422 |
Qantas Airways Ltd. * | 2,021,379 | 6,332,791 |
QBE Insurance Group Ltd. | 3,569,385 | 35,394,403 |
Ramsay Health Care Ltd. | 444,065 | 13,750,074 |
REA Group Ltd. | 123,260 | 11,315,850 |
Reece Ltd. (a) | 509,959 | 5,685,899 |
Rio Tinto Ltd. | 888,028 | 66,334,002 |
Santos Ltd. | 7,769,364 | 37,910,294 |
Scentre Group, REIT | 12,416,489 | 19,235,539 |
SEEK Ltd. | 852,154 | 11,242,202 |
INVESTMENTS | SHARES | VALUE($) |
Australia — continued | ||
Seven Group Holdings Ltd. | 373,669 | 6,603,337 |
Sonic Healthcare Ltd. | 1,127,541 | 20,646,479 |
South32 Ltd. | 10,873,598 | 23,262,804 |
Stockland, REIT | 5,710,624 | 12,888,547 |
Suncorp Group Ltd. | 3,029,838 | 25,788,913 |
Telstra Group Ltd. | 9,674,227 | 23,458,841 |
TPG Telecom Ltd. | 1,023,027 | 3,374,635 |
Transurban Group | 7,369,324 | 55,479,908 |
Treasury Wine Estates Ltd. | 1,726,814 | 13,303,637 |
Vicinity Ltd., REIT | 9,256,509 | 10,026,019 |
Washington H Soul Pattinson & Co. Ltd. (a) | 587,188 | 12,509,378 |
Wesfarmers Ltd. | 2,713,999 | 87,319,744 |
Westpac Banking Corp. | 8,394,459 | 110,234,209 |
WiseTech Global Ltd. | 436,630 | 16,256,291 |
Woodside Energy Group Ltd. | 4,542,214 | 98,928,523 |
Woolworths Group Ltd. | 2,915,395 | 65,260,448 |
Worley Ltd. | 879,291 | 9,191,648 |
2,277,734,618 | ||
China — 2.4% | ||
Budweiser Brewing Co. APAC Ltd. (b) | 4,118,500 | 7,826,578 |
ESR Group Ltd. (b) | 5,655,600 | 7,266,856 |
Wharf Holdings Ltd. (The) | 2,266,000 | 5,749,854 |
Wilmar International Ltd. | 7,199,600 | 18,717,417 |
Wuxi Biologics Cayman, Inc. * (b) | 8,540,000 | 53,099,516 |
92,660,221 | ||
Hong Kong — 17.3% | ||
AIA Group Ltd. | 27,575,800 | 239,462,955 |
CK Asset Holdings Ltd. | 4,555,000 | 22,767,370 |
CK Infrastructure Holdings Ltd. | 1,446,500 | 6,704,585 |
CLP Holdings Ltd. | 3,989,000 | 29,194,623 |
DFI Retail Group Holdings Ltd. | 712,400 | 1,519,566 |
Hang Lung Properties Ltd. | 4,198,000 | 5,518,092 |
Hang Seng Bank Ltd. | 1,737,900 | 19,869,560 |
Henderson Land Development Co. Ltd. | 3,126,700 | 8,180,887 |
HK Electric Investments & HK Electric Investments Ltd. (b) | 5,496,000 | 3,048,824 |
HKT Trust & HKT Ltd. | 8,704,000 | 9,015,472 |
Hong Kong & China Gas Co. Ltd. | 25,889,789 | 18,022,112 |
Hong Kong Exchanges & Clearing Ltd. | 2,851,000 | 99,735,544 |
Jardine Matheson Holdings Ltd. | 491,300 | 19,908,036 |
Link, REIT | 6,128,700 | 28,125,480 |
MTR Corp. Ltd. | 3,716,500 | 13,892,967 |
New World Development Co. Ltd. | 3,311,250 | 6,077,202 |
Power Assets Holdings Ltd. | 3,263,000 | 15,599,844 |
60 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Hong Kong — continued | ||
Sino Land Co. Ltd. | 8,016,000 | 8,002,601 |
Sun Hung Kai Properties Ltd. | 3,604,500 | 37,013,547 |
Swire Pacific Ltd., Class A | 1,004,500 | 6,416,588 |
Swire Pacific Ltd., Class B | 1,957,500 | 2,009,763 |
Swire Properties Ltd. | 2,519,000 | 4,877,303 |
Techtronic Industries Co. Ltd. | 3,160,500 | 28,853,865 |
WH Group Ltd. (b) | 18,722,691 | 11,181,812 |
Wharf Real Estate Investment Co. Ltd. | 3,704,000 | 12,956,740 |
657,955,338 | ||
Macau — 1.1% | ||
Galaxy Entertainment Group Ltd. | 4,808,000 | 27,028,009 |
Sands China Ltd. * | 5,808,179 | 15,635,906 |
42,663,915 | ||
New Zealand — 1.7% | ||
Auckland International Airport Ltd. | 3,135,738 | 13,409,306 |
Contact Energy Ltd. | 1,877,799 | 8,522,304 |
Fisher & Paykel Healthcare Corp. Ltd. | 1,391,512 | 16,870,561 |
Mercury NZ Ltd. | 1,592,402 | 5,473,627 |
Meridian Energy Ltd. | 2,966,155 | 8,353,765 |
Spark New Zealand Ltd. | 4,413,635 | 12,813,322 |
65,442,885 | ||
Singapore — 11.3% | ||
CapitaLand Ascendas, REIT | 8,507,528 | 16,164,686 |
CapitaLand Integrated Commercial Trust, REIT | 12,098,532 | 15,549,286 |
CapitaLand Investment Ltd. | 5,725,700 | 12,294,133 |
City Developments Ltd. | 1,218,100 | 5,622,521 |
DBS Group Holdings Ltd. | 4,395,000 | 105,582,545 |
Genting Singapore Ltd. | 13,597,800 | 8,542,893 |
Great Eastern Holdings Ltd. | 135,900 | 1,715,334 |
Jardine Cycle & Carriage Ltd. | 217,500 | 4,480,454 |
Keppel, REIT | 654,840 | 380,241 |
Keppel Corp. Ltd. | 3,309,900 | 15,024,784 |
Mapletree Pan Asia Commercial Trust, REIT | 5,522,100 | 5,366,961 |
Olam Group Ltd. | 2,571,700 | 1,863,547 |
Oversea-Chinese Banking Corp. Ltd. | 9,288,500 | 86,114,762 |
Singapore Airlines Ltd. | 3,205,300 | 14,312,500 |
Singapore Exchange Ltd. | 1,967,200 | 13,620,230 |
Singapore Technologies Engineering Ltd. | 3,660,100 | 10,047,918 |
Singapore Telecommunications Ltd. | 16,987,800 | 29,519,258 |
United Overseas Bank Ltd. | 3,670,100 | 72,391,624 |
INVESTMENTS | SHARES | VALUE($) |
Singapore — continued | ||
UOL Group Ltd. | 1,111,700 | 4,787,908 |
Venture Corp. Ltd. | 649,600 | 5,546,498 |
428,928,083 | ||
United Kingdom — 0.8% | ||
CK Hutchison Holdings Ltd. | 6,413,500 | 32,466,973 |
United States — 5.2% | ||
CSL Ltd. | 1,153,929 | 170,541,621 |
James Hardie Industries plc, CHDI * | 1,052,866 | 26,268,407 |
196,810,028 | ||
Total Common Stocks (Cost $4,390,199,215) | 3,794,662,061 | |
Short-Term Investments — 0.3% | ||
Investment of Cash Collateral from Securities Loaned — 0.3% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (c) (d)(Cost $11,792,130) | 11,792,130 | 11,792,130 |
Total Investments — 99.9% (Cost $4,401,991,345) | 3,806,454,191 | |
Other Assets Less Liabilities — 0.1% | 3,448,325 | |
NET ASSETS — 100.0% | 3,809,902,516 |
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 |
* | Non-income producing security. |
(a) | The security or a portion of this security is on loan at October 31, 2023. The total value of securities on loan at October 31, 2023 is $11,180,067. |
(b) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. |
(c) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(d) | The rate shown is the current yield as of October 31, 2023. |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 61 |
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Banks | 23.5 % |
Metals & Mining | 14.8 |
Insurance | 8.9 |
Capital Markets | 5.7 |
Biotechnology | 4.5 |
Real Estate Management & Development | 4.1 |
Oil, Gas & Consumable Fuels | 3.9 |
Consumer Staples Distribution & Retail | 2.9 |
Hotels, Restaurants & Leisure | 2.8 |
Electric Utilities | 2.4 |
Broadline Retail | 2.3 |
Retail REITs | 2.1 |
Diversified Telecommunication Services | 2.1 |
Transportation Infrastructure | 2.1 |
Industrial Conglomerates | 1.9 |
Industrial REITs | 1.8 |
Life Sciences Tools & Services | 1.4 |
Health Care Equipment & Supplies | 1.1 |
Others (each less than 1.0%) | 11.4 |
Short-Term Investments | 0.3 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
MSCI Singapore Index | 261 | 11/29/2023 | SGD | 5,190,834 | (5,033 ) |
SPI 200 Index | 87 | 12/21/2023 | AUD | 9,406,871 | (6,692 ) |
(11,725 ) |
Abbreviations | |
AUD | Australian Dollar |
MSCI | Morgan Stanley Capital International |
SGD | Singapore Dollar |
SPI | Australian Securities Exchange |
62 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 99.0% | ||
Australia — 0.0% ^ | ||
Yancoal Australia Ltd. (a) | 23,100 | 71,028 |
Brazil — 5.1% | ||
Ambev SA | 320,761 | 816,893 |
Atacadao SA | 39,277 | 69,957 |
B3 SA - Brasil Bolsa Balcao | 429,795 | 950,506 |
Banco Bradesco SA | 108,529 | 263,694 |
Banco Bradesco SA (Preference) | 386,265 | 1,074,118 |
Banco BTG Pactual SA | 83,669 | 493,210 |
Banco do Brasil SA | 104,182 | 999,511 |
BB Seguridade Participacoes SA | 51,192 | 311,513 |
Braskem SA (Preference), Class A * | 14,256 | 45,326 |
CCR SA | 83,700 | 199,715 |
Centrais Eletricas Brasileiras SA | 75,174 | 517,387 |
Centrais Eletricas Brasileiras SA (Preference) | 18,306 | 139,426 |
Cia de Saneamento Basico do Estado de Sao Paulo SABESP | 25,758 | 298,107 |
Cia Energetica de Minas Gerais | 20,843 | 63,665 |
Cia Energetica de Minas Gerais (Preference) | 110,376 | 256,360 |
Cia Paranaense de Energia * | 27,843 | 226,974 |
Cia Siderurgica Nacional SA | 44,982 | 105,189 |
Cosan SA | 84,492 | 264,281 |
CPFL Energia SA | 13,405 | 89,096 |
Energisa SA | 21,168 | 196,282 |
Engie Brasil Energia SA | 19,008 | 148,731 |
Equatorial Energia SA | 65,556 | 411,923 |
Gerdau SA (Preference) | 84,101 | 364,978 |
Hapvida Participacoes e Investimentos SA * (b) | 374,976 | 274,441 |
Hypera SA | 30,024 | 180,677 |
Itau Unibanco Holding SA (Preference) | 352,377 | 1,874,498 |
Itausa SA * | 90,947 | 158,922 |
Itausa SA (Preference) | 388,584 | 666,684 |
Klabin SA | 62,640 | 265,879 |
Localiza Rent a Car SA | 62,464 | 631,733 |
Lojas Renner SA | 73,656 | 179,986 |
Magazine Luiza SA * | 15,870 | 4,218 |
Natura & Co. Holding SA * | 63,612 | 161,246 |
Petroleo Brasileiro SA | 270,597 | 2,028,773 |
Petroleo Brasileiro SA (Preference) | 334,040 | 2,301,028 |
PRIO SA * | 56,886 | 536,506 |
Raia Drogasil SA | 81,203 | 415,699 |
Rede D'Or Sao Luiz SA (b) | 74,912 | 321,683 |
Rumo SA | 87,558 | 387,101 |
Sendas Distribuidora SA | 98,187 | 212,275 |
Suzano SA | 53,920 | 552,274 |
INVESTMENTS | SHARES | VALUE($) |
Brazil — continued | ||
Telefonica Brasil SA | 25,404 | 227,549 |
TIM SA | 60,210 | 181,403 |
Transmissora Alianca de Energia Eletrica S/A | 16,308 | 109,588 |
Vale SA | 264,052 | 3,615,314 |
Vibra Energia SA * | 86,836 | 341,368 |
WEG SA | 106,825 | 697,724 |
24,633,411 | ||
Chile — 0.5% | ||
Banco de Chile | 3,272,886 | 336,248 |
Banco de Credito e Inversiones SA | 5,119 | 122,398 |
Banco Santander Chile | 4,968,432 | 216,613 |
Cencosud SA | 97,038 | 157,212 |
Cencosud Shopping SA | 35,601 | 51,671 |
Cia Cervecerias Unidas SA | 9,364 | 53,234 |
Cia Sud Americana de Vapores SA | 1,121,364 | 62,270 |
Empresas CMPC SA | 82,836 | 148,087 |
Empresas Copec SA | 31,558 | 208,917 |
Enel Americas SA * | 1,454,976 | 149,562 |
Enel Chile SA | 1,824,066 | 108,017 |
Falabella SA * | 56,700 | 115,459 |
Latam Airlines Group SA * | 10,988,271 | 85,942 |
Sociedad Quimica y Minera de Chile SA (Preference), Class B | 10,746 | 519,890 |
2,335,520 | ||
China — 27.8% | ||
360 Security Technology, Inc., Class A * | 43,200 | 52,905 |
37 Interactive Entertainment Network Technology Group Co. Ltd. | 16,200 | 45,671 |
AAC Technologies Holdings, Inc. | 54,000 | 97,202 |
AECC Aviation Power Co. Ltd., Class A | 16,200 | 78,074 |
Agricultural Bank of China Ltd., Class A | 966,600 | 472,769 |
Agricultural Bank of China Ltd., Class H | 2,234,000 | 825,143 |
AIM Vaccine Co. Ltd. * | 400 | 468 |
Airtac International Group | 11,000 | 361,654 |
Akeso, Inc. * (b) | 36,000 | 202,160 |
Alibaba Group Holding Ltd. * | 1,124,600 | 11,577,846 |
Alibaba Health Information Technology Ltd. * | 362,000 | 213,247 |
Aluminum Corp. of China Ltd., Class A | 76,900 | 64,950 |
Aluminum Corp. of China Ltd., Class H | 294,000 | 157,270 |
Anhui Conch Cement Co. Ltd., Class A | 23,900 | 78,776 |
Anhui Conch Cement Co. Ltd., Class H | 88,500 | 220,249 |
Anhui Gujing Distillery Co. Ltd., Class A | 2,500 | 94,964 |
Anhui Gujing Distillery Co. Ltd., Class B | 7,300 | 113,781 |
Anjoy Foods Group Co. Ltd., Class A | 5,500 | 96,819 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 63 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
China — continued | ||
ANTA Sports Products Ltd. | 86,400 | 977,140 |
Asymchem Laboratories Tianjin Co. Ltd., Class A | 5,500 | 113,123 |
Autohome, Inc., Class A | 17,000 | 112,671 |
Avary Holding Shenzhen Co. Ltd., Class A | 12,100 | 35,339 |
AviChina Industry & Technology Co. Ltd., Class H | 189,000 | 85,658 |
Baidu, Inc., Class A * | 165,000 | 2,166,253 |
Baiyin Nonferrous Group Co. Ltd., Class A | 1,060,000 | 397,020 |
Bank of Beijing Co. Ltd., Class A | 126,100 | 78,363 |
Bank of China Ltd., Class A | 480,600 | 255,326 |
Bank of China Ltd., Class H | 5,796,000 | 2,024,748 |
Bank of Communications Co. Ltd., Class A | 237,600 | 182,218 |
Bank of Communications Co. Ltd., Class H | 1,566,000 | 926,298 |
Bank of Hangzhou Co. Ltd., Class A | 35,500 | 51,750 |
Bank of Jiangsu Co. Ltd., Class A | 92,700 | 87,163 |
Bank of Nanjing Co. Ltd., Class A | 61,700 | 65,910 |
Bank of Ningbo Co. Ltd., Class A | 43,200 | 147,040 |
Baoshan Iron & Steel Co. Ltd., Class A | 132,800 | 113,225 |
BeiGene Ltd. * | 57,700 | 828,334 |
Beijing Enterprises Holdings Ltd. | 54,000 | 179,920 |
Beijing Enterprises Water Group Ltd. | 346,000 | 73,008 |
Beijing Kingsoft Office Software, Inc., Class A | 3,550 | 139,169 |
Beijing Tongrentang Co. Ltd., Class A | 10,900 | 76,237 |
Beijing Wantai Biological Pharmacy Enterprise Co. Ltd., Class A | 5,600 | 33,471 |
Bilibili, Inc., Class Z * | 18,060 | 242,324 |
Bloomage Biotechnology Corp. Ltd., Class A | 2,751 | 28,659 |
BOC Aviation Ltd. (b) | 16,200 | 99,631 |
BOC Hong Kong Holdings Ltd. | 261,500 | 691,547 |
BOE Technology Group Co. Ltd., Class A | 226,800 | 121,160 |
Bosideng International Holdings Ltd. | 244,000 | 96,338 |
BYD Co. Ltd., Class A | 10,600 | 344,728 |
BYD Co. Ltd., Class H | 67,500 | 2,052,684 |
BYD Electronic International Co. Ltd. | 54,500 | 227,511 |
C&D International Investment Group Ltd. | 49,000 | 110,239 |
Cambricon Technologies Corp. Ltd., Class A * | 2,427 | 35,702 |
CGN Power Co. Ltd., Class H (b) | 771,000 | 185,277 |
Changchun High & New Technology Industry Group, Inc., Class A | 5,400 | 114,550 |
Changzhou Xingyu Automotive Lighting Systems Co. Ltd., Class A | 5,400 | 107,523 |
China CITIC Bank Corp. Ltd., Class H | 676,000 | 301,569 |
China Coal Energy Co. Ltd., Class H | 156,000 | 122,533 |
China Conch Venture Holdings Ltd. | 119,000 | 98,553 |
INVESTMENTS | SHARES | VALUE($) |
China — continued | ||
China Construction Bank Corp., Class H | 7,168,000 | 4,053,920 |
China CSSC Holdings Ltd., Class A | 27,000 | 95,212 |
China Eastern Airlines Corp. Ltd., Class A * | 153,400 | 91,111 |
China Everbright Bank Co. Ltd., Class A | 276,700 | 111,928 |
China Everbright Environment Group Ltd. | 262,000 | 89,441 |
China Feihe Ltd. (b) | 270,000 | 167,770 |
China First Heavy Industries Co. Ltd., Class A * | 997,800 | 396,922 |
China Galaxy Securities Co. Ltd., Class H | 258,500 | 132,302 |
China Gas Holdings Ltd. | 223,200 | 200,658 |
China Hainan Rubber Industry Group Co. Ltd., Class A * | 628,800 | 384,071 |
China Hongqiao Group Ltd. | 158,500 | 148,390 |
China International Capital Corp. Ltd., Class A | 12,800 | 64,266 |
China International Capital Corp. Ltd., Class H (b) | 129,600 | 206,421 |
China International Marine Containers Group Co. Ltd., Class A | 393,000 | 354,272 |
China Jushi Co. Ltd., Class A | 36,400 | 57,417 |
China Lesso Group Holdings Ltd. | 74,000 | 39,736 |
China Life Insurance Co. Ltd., Class H | 541,000 | 732,730 |
China Literature Ltd. * (b) | 32,400 | 109,106 |
China Longyuan Power Group Corp. Ltd., Class H | 250,000 | 211,632 |
China Medical System Holdings Ltd. | 150,000 | 239,865 |
China Mengniu Dairy Co. Ltd. | 227,000 | 741,186 |
China Merchants Bank Co. Ltd., Class A | 129,600 | 543,443 |
China Merchants Bank Co. Ltd., Class H | 246,000 | 933,150 |
China Merchants Energy Shipping Co. Ltd., Class A | 48,500 | 42,473 |
China Merchants Port Holdings Co. Ltd. | 110,000 | 140,023 |
China Merchants Securities Co. Ltd., Class A | 43,200 | 83,234 |
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A | 48,600 | 73,064 |
China Minsheng Banking Corp. Ltd., Class A | 216,000 | 109,436 |
China Minsheng Banking Corp. Ltd., Class H | 486,000 | 161,576 |
China National Building Material Co. Ltd., Class H | 338,000 | 160,887 |
China National Nuclear Power Co. Ltd., Class A | 112,600 | 113,837 |
China Northern Rare Earth Group High-Tech Co. Ltd., Class A | 21,600 | 61,511 |
China Oilfield Services Ltd., Class H | 136,000 | 160,795 |
China Overseas Land & Investment Ltd. | 297,000 | 560,472 |
China Pacific Insurance Group Co. Ltd., Class A | 70,200 | 265,264 |
China Pacific Insurance Group Co. Ltd., Class H | 187,600 | 462,128 |
China Petroleum & Chemical Corp., Class A | 276,700 | 205,906 |
China Petroleum & Chemical Corp., Class H | 1,804,000 | 922,634 |
64 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
China — continued | ||
China Power International Development Ltd. | 368,000 | 143,018 |
China Railway Group Ltd., Class A | 124,200 | 102,364 |
China Railway Group Ltd., Class H | 313,000 | 147,725 |
China Resources Beer Holdings Co. Ltd. | 116,000 | 613,833 |
China Resources Cement Holdings Ltd. | 162,000 | 41,655 |
China Resources Gas Group Ltd. | 67,300 | 198,947 |
China Resources Land Ltd. | 210,000 | 786,053 |
China Resources Mixc Lifestyle Services Ltd. (b) | 54,000 | 210,677 |
China Resources Pharmaceutical Group Ltd. (b) | 140,500 | 87,278 |
China Resources Power Holdings Co. Ltd. | 132,000 | 255,802 |
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Class A | 6,000 | 35,253 |
China Shenhua Energy Co. Ltd., Class A | 54,000 | 222,880 |
China Shenhua Energy Co. Ltd., Class H | 242,500 | 743,256 |
China Southern Airlines Co. Ltd., Class A * | 86,400 | 72,695 |
China Suntien Green Energy Corp. Ltd., Class A | 113,500 | 127,679 |
China Taiping Insurance Holdings Co. Ltd. | 129,600 | 119,721 |
China Three Gorges Renewables Group Co. Ltd., Class A | 172,800 | 113,016 |
China Tourism Group Duty Free Corp. Ltd., Class A | 16,200 | 208,832 |
China Tourism Group Duty Free Corp. Ltd., Class H (b) | 8,000 | 90,346 |
China Tower Corp. Ltd., Class H (b) | 3,564,000 | 332,346 |
China Vanke Co. Ltd., Class A | 59,400 | 91,574 |
China Vanke Co. Ltd., Class H | 167,400 | 156,612 |
China Yangtze Power Co. Ltd., Class A | 145,800 | 448,290 |
China Zhenhua Group Science & Technology Co. Ltd., Class A | 3,100 | 28,266 |
Chongqing Brewery Co. Ltd., Class A | 3,100 | 33,151 |
Chongqing Changan Automobile Co. Ltd., Class A | 54,000 | 111,381 |
Chongqing Water Group Co. Ltd., Class A | 538,900 | 412,572 |
Chow Tai Fook Jewellery Group Ltd. | 167,000 | 235,825 |
CITIC Ltd. | 466,000 | 396,071 |
Citic Pacific Special Steel Group Co. Ltd., Class A | 22,100 | 43,709 |
CITIC Securities Co. Ltd., Class A | 75,600 | 223,664 |
CITIC Securities Co. Ltd., Class H | 109,000 | 212,098 |
CMOC Group Ltd., Class A | 108,000 | 81,616 |
CMOC Group Ltd., Class H | 270,000 | 161,031 |
CNPC Capital Co. Ltd., Class A | 59,400 | 48,025 |
COSCO SHIPPING Energy Transportation Co. Ltd., Class A | 20,800 | 40,853 |
COSCO SHIPPING Energy Transportation Co. Ltd., Class H | 108,000 | 114,538 |
COSCO SHIPPING Holdings Co. Ltd., Class H | 249,500 | 253,751 |
INVESTMENTS | SHARES | VALUE($) |
China — continued | ||
Country Garden Holdings Co. Ltd. * | 139,000 | 12,430 |
Country Garden Services Holdings Co. Ltd. | 163,000 | 142,382 |
CSPC Pharmaceutical Group Ltd. | 646,000 | 564,262 |
Daqin Railway Co. Ltd., Class A | 90,400 | 88,770 |
Dongxing Securities Co. Ltd., Class A | 377,900 | 411,894 |
East Buy Holding Ltd. * (b) | 31,000 | 126,465 |
Eastern Air Logistics Co. Ltd., Class A | 252,300 | 397,272 |
Eastroc Beverage Group Co. Ltd., Class A | 5,400 | 141,309 |
ENN Energy Holdings Ltd. | 56,500 | 427,996 |
ENN Natural Gas Co. Ltd., Class A | 18,500 | 43,515 |
Everbright Securities Co. Ltd., Class A | 23,300 | 52,272 |
Everdisplay Optronics Shanghai Co. Ltd., Class A * | 688,655 | 245,822 |
Far East Horizon Ltd. | 134,000 | 94,287 |
Flat Glass Group Co. Ltd., Class A | 11,100 | 39,068 |
Flat Glass Group Co. Ltd., Class H * | 40,000 | 71,835 |
Focus Media Information Technology Co. Ltd., Class A | 91,800 | 86,488 |
Foshan Haitian Flavouring & Food Co. Ltd., Class A | 37,860 | 194,202 |
Fosun International Ltd. | 162,000 | 97,061 |
Foxconn Industrial Internet Co. Ltd., Class A | 91,800 | 184,349 |
Full Truck Alliance Co. Ltd., ADR * | 48,762 | 320,366 |
Fuyao Glass Industry Group Co. Ltd., Class H (b) | 44,400 | 202,424 |
Ganfeng Lithium Group Co. Ltd. (b) | 32,400 | 116,374 |
Ganfeng Lithium Group Co. Ltd., Class A | 10,900 | 65,821 |
G-bits Network Technology Xiamen Co. Ltd., Class A | 600 | 21,737 |
GCL Technology Holdings Ltd. | 1,492,000 | 219,723 |
GD Power Development Co. Ltd., Class A | 106,300 | 52,704 |
Geely Automobile Holdings Ltd. | 380,000 | 431,423 |
Genscript Biotech Corp. * | 80,000 | 232,573 |
GF Securities Co. Ltd., Class H | 86,400 | 112,490 |
GigaDevice Semiconductor, Inc., Class A | 5,400 | 78,827 |
GoerTek, Inc., Class A | 20,500 | 50,442 |
Great Wall Motor Co. Ltd., Class A | 18,400 | 73,678 |
Great Wall Motor Co. Ltd., Class H | 189,000 | 264,202 |
Gree Electric Appliances, Inc. of Zhuhai, Class A | 37,800 | 174,739 |
Guangdong Haid Group Co. Ltd., Class A | 10,100 | 61,967 |
Guangdong Investment Ltd. | 218,000 | 148,759 |
Guanghui Energy Co. Ltd., Class A | 39,200 | 40,109 |
Guangzhou Automobile Group Co. Ltd., Class H | 212,000 | 99,322 |
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class H | 16,000 | 42,565 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 65 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
China — continued | ||
Guangzhou Tinci Materials Technology Co. Ltd., Class A | 11,500 | 43,608 |
Guotai Junan Securities Co. Ltd., Class A | 43,700 | 87,969 |
H World Group Ltd. * | 102,900 | 386,794 |
Haidilao International Holding Ltd. (b) | 126,000 | 315,480 |
Haier Smart Home Co. Ltd., Class A | 37,800 | 114,469 |
Haier Smart Home Co. Ltd., Class H | 179,400 | 511,708 |
Hainan Airlines Holding Co. Ltd., Class A * | 255,500 | 50,828 |
Hainan Airport Infrastructure Co. Ltd., Class A * | 68,200 | 35,407 |
Haitian International Holdings Ltd. | 55,000 | 131,207 |
Hangzhou First Applied Material Co. Ltd., Class A | 11,200 | 39,002 |
Hansoh Pharmaceutical Group Co. Ltd. (b) | 108,000 | 203,201 |
Hengan International Group Co. Ltd. | 54,500 | 182,537 |
Hengli Petrochemical Co. Ltd., Class A * | 41,000 | 81,862 |
Hisense Home Appliances Group Co. Ltd. | 26,000 | 71,567 |
Hopson Development Holdings Ltd. * | 71,980 | 42,147 |
Hoshine Silicon Industry Co. Ltd., Class A | 4,400 | 34,314 |
Hoyuan Green Energy Co. Ltd. | 7,606 | 38,711 |
Hua Hong Semiconductor Ltd. * (b) | 75,000 | 184,656 |
Huadian Power International Corp. Ltd., Class A | 50,300 | 33,637 |
Huadian Power International Corp. Ltd., Class H | 122,000 | 48,986 |
Huadong Medicine Co. Ltd., Class A | 10,600 | 62,068 |
Huaneng Power International, Inc., Class A * | 70,200 | 72,759 |
Huaneng Power International, Inc., Class H * | 324,000 | 151,617 |
Huatai Securities Co. Ltd., Class A | 42,900 | 93,707 |
Huatai Securities Co. Ltd., Class H (b) | 118,800 | 155,533 |
Huaxia Bank Co. Ltd., Class A | 95,000 | 72,487 |
Huayu Automotive Systems Co. Ltd., Class A | 87,900 | 210,109 |
Huizhou Desay Sv Automotive Co. Ltd., Class A | 5,400 | 92,390 |
Hundsun Technologies, Inc., Class A | 16,200 | 68,756 |
Hygeia Healthcare Holdings Co. Ltd. (b) | 26,000 | 156,990 |
IEIT Systems Co. Ltd., Class A | 8,900 | 35,625 |
Iflytek Co. Ltd., Class A | 16,200 | 100,714 |
Industrial & Commercial Bank of China Ltd., Class A | 610,200 | 393,270 |
Industrial & Commercial Bank of China Ltd., Class H | 5,175,000 | 2,480,092 |
Industrial Bank Co. Ltd., Class A | 129,600 | 266,338 |
Inner Mongolia BaoTou Steel Union Co. Ltd., Class A * | 264,200 | 58,339 |
Inner Mongolia Yili Industrial Group Co. Ltd., Class A | 43,200 | 161,413 |
Innovent Biologics, Inc. * (b) | 107,500 | 633,515 |
JA Solar Technology Co. Ltd., Class A | 21,600 | 65,950 |
INVESTMENTS | SHARES | VALUE($) |
China — continued | ||
JCET Group Co. Ltd., Class A | 10,700 | 45,006 |
JD Health International, Inc. * (b) | 81,000 | 367,925 |
JD Logistics, Inc. * (b) | 145,800 | 172,641 |
JD.com, Inc., Class A | 178,750 | 2,272,478 |
Jiangsu Eastern Shenghong Co. Ltd., Class A | 38,500 | 55,821 |
Jiangsu Expressway Co. Ltd., Class H | 108,000 | 98,187 |
Jiangsu Financial Leasing Co. Ltd., Class A | 677,280 | 441,090 |
Jiangsu Hengli Hydraulic Co. Ltd., Class A | 8,100 | 62,131 |
Jiangsu Hengrui Pharmaceuticals Co. Ltd., Class A | 43,200 | 281,937 |
Jiangsu King's Luck Brewery JSC Ltd., Class A | 7,600 | 60,563 |
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd., Class A | 10,800 | 179,491 |
Jiangsu Zhongtian Technology Co. Ltd., Class A | 20,400 | 38,941 |
Jiangxi Copper Co. Ltd., Class H | 89,000 | 125,842 |
Jinko Solar Co. Ltd., Class A | 36,359 | 47,013 |
JiuGui Liquor Co. Ltd., Class A | 5,500 | 57,265 |
Jointown Pharmaceutical Group Co. Ltd., Class A | 132,251 | 128,245 |
Juneyao Airlines Co. Ltd., Class A * | 12,900 | 25,635 |
KE Holdings, Inc., Class A | 146,300 | 720,801 |
Kingboard Holdings Ltd. | 53,500 | 130,287 |
Kingdee International Software Group Co. Ltd. * | 216,000 | 286,604 |
Kingsoft Corp. Ltd. | 71,000 | 247,753 |
Kuaishou Technology * (b) | 181,800 | 1,170,764 |
Kunlun Energy Co. Ltd. | 326,000 | 271,592 |
Kweichow Moutai Co. Ltd., Class A | 7,500 | 1,721,563 |
Lenovo Group Ltd. | 486,000 | 565,574 |
Li Auto, Inc., Class A * | 83,000 | 1,403,831 |
Li Ning Co. Ltd. | 175,000 | 536,271 |
Liaoning Cheng Da Co. Ltd., Class A | 42,700 | 71,199 |
Longfor Group Holdings Ltd. (a) | 135,000 | 196,528 |
LONGi Green Energy Technology Co. Ltd., Class A | 48,600 | 159,882 |
Luxshare Precision Industry Co. Ltd., Class A | 43,200 | 193,331 |
Luzhou Laojiao Co. Ltd., Class A | 10,700 | 312,356 |
Meituan * (b) | 315,700 | 4,475,052 |
Microport Scientific Corp. * | 54,600 | 86,037 |
MINISO Group Holding Ltd. | 35,800 | 230,201 |
Minth Group Ltd. | 64,000 | 142,863 |
Montage Technology Co. Ltd., Class A | 6,649 | 49,957 |
Muyuan Foods Co. Ltd., Class A | 37,800 | 194,283 |
NARI Technology Co. Ltd., Class A | 51,880 | 159,651 |
NAURA Technology Group Co. Ltd., Class A | 3,300 | 115,351 |
NetEase, Inc. | 135,700 | 2,904,190 |
66 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
China — continued | ||
New China Life Insurance Co. Ltd., Class A | 12,600 | 57,391 |
New China Life Insurance Co. Ltd., Class H | 63,900 | 140,175 |
New Oriental Education & Technology Group, Inc. * | 111,500 | 726,984 |
Ninestar Corp., Class A | 8,600 | 28,752 |
Ningbo Deye Technology Co. Ltd., Class A | 10,640 | 100,329 |
Ningbo Tuopu Group Co. Ltd., Class A | 6,700 | 58,984 |
Ningxia Baofeng Energy Group Co. Ltd., Class A | 42,700 | 83,913 |
NIO, Inc., Class A * | 101,650 | 744,203 |
Nongfu Spring Co. Ltd., Class H (b) | 128,200 | 730,194 |
Oppein Home Group, Inc., Class A | 3,200 | 37,951 |
Orient Securities Co. Ltd., Class A | 43,500 | 51,419 |
Pangang Group Vanadium Titanium & Resources Co. Ltd., Class A * | 54,100 | 25,747 |
PDD Holdings, Inc., ADR * | 49,898 | 5,060,655 |
People's Insurance Co. Group of China Ltd. (The), Class H | 611,000 | 201,605 |
PetroChina Co. Ltd., Class H | 1,528,000 | 997,350 |
PICC Property & Casualty Co. Ltd., Class H | 528,000 | 602,952 |
Ping An Bank Co. Ltd., Class A | 118,800 | 169,355 |
Ping An Healthcare and Technology Co. Ltd. * (b) | 41,600 | 97,175 |
Ping An Insurance Group Co. of China Ltd., Class A | 70,200 | 434,731 |
Ping An Insurance Group Co. of China Ltd., Class H | 454,500 | 2,305,441 |
Poly Developments and Holdings Group Co. Ltd., Class A | 75,600 | 113,398 |
Postal Savings Bank of China Co. Ltd., Class A | 236,500 | 147,240 |
Postal Savings Bank of China Co. Ltd., Class H (b) | 594,000 | 271,119 |
Power Construction Corp. of China Ltd., Class A | 108,000 | 77,401 |
Qi An Xin Technology Group, Inc., Class A * | 4,010 | 25,210 |
Qifu Technology, Inc., Class A | 18,800 | 137,066 |
Qinghai Salt Lake Industry Co. Ltd., Class A * | 37,800 | 87,223 |
Remegen Co. Ltd., Class H * (b) | 12,000 | 68,341 |
Rongsheng Petrochemical Co. Ltd., Class A | 64,800 | 100,591 |
SAIC Motor Corp. Ltd., Class A | 69,700 | 137,928 |
Sanan Optoelectronics Co. Ltd., Class A | 29,700 | 60,246 |
Sany Heavy Equipment International Holdings Co. Ltd. | 78,000 | 102,462 |
Sany Heavy Industry Co. Ltd., Class A | 54,000 | 106,417 |
Seres Group Co. Ltd., Class A * | 9,100 | 101,228 |
SF Holding Co. Ltd., Class A | 32,400 | 173,260 |
Shaanxi Beiyuan Chemical Industry Group Co. Ltd., Class A | 593,100 | 423,389 |
INVESTMENTS | SHARES | VALUE($) |
China — continued | ||
Shaanxi Coal Industry Co. Ltd., Class A | 59,400 | 145,955 |
Shandong Gold Mining Co. Ltd., Class A | 21,600 | 69,900 |
Shandong Gold Mining Co. Ltd., Class H (b) | 50,250 | 94,140 |
Shandong Hualu Hengsheng Chemical Co. Ltd., Class A | 12,700 | 55,670 |
Shandong Weigao Group Medical Polymer Co. Ltd., Class H | 181,600 | 168,560 |
Shanghai Aiko Solar Energy Co. Ltd., Class A | 10,900 | 29,110 |
Shanghai Baosight Software Co. Ltd., Class A | 10,900 | 63,348 |
Shanghai Baosight Software Co. Ltd., Class B | 45,320 | 93,207 |
Shanghai Electric Group Co. Ltd., Class A * | 435,300 | 263,364 |
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H | 35,000 | 80,761 |
Shanghai Fudan Microelectronics Group Co. Ltd., Class H | 20,000 | 37,805 |
Shanghai International Airport Co. Ltd., Class A * | 16,300 | 82,646 |
Shanghai International Port Group Co. Ltd., Class A | 121,500 | 82,767 |
Shanghai Junshi Biosciences Co. Ltd., Class H * (b) | 21,600 | 59,873 |
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class B | 80,000 | 31,835 |
Shanghai Pharmaceuticals Holding Co. Ltd., Class H | 57,500 | 83,651 |
Shanghai Pudong Development Bank Co. Ltd., Class A | 178,200 | 165,594 |
Shanghai Putailai New Energy Technology Co. Ltd., Class A | 12,100 | 41,254 |
Shanghai Rural Commercial Bank Co. Ltd., Class A | 551,300 | 447,639 |
Shanxi Coking Coal Energy Group Co. Ltd., Class A | 33,100 | 39,019 |
Shanxi Lu'an Environmental Energy Development Co. Ltd., Class A | 17,400 | 45,116 |
Shanxi Meijin Energy Co. Ltd., Class A * | 45,800 | 43,767 |
Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Class A | 7,100 | 239,013 |
Shede Spirits Co. Ltd., Class A | 2,100 | 32,954 |
Shenwan Hongyuan Group Co. Ltd., Class A | 203,000 | 121,393 |
Shenzhen SED Industry Co. Ltd., Class A | 6,900 | 18,081 |
Shenzhen Transsion Holdings Co. Ltd., Class A | 5,300 | 97,073 |
Shenzhou International Group Holdings Ltd. | 59,400 | 583,455 |
Silergy Corp. | 24,000 | 214,508 |
Sinomach Heavy Equipment Group Co. Ltd., Class A * | 977,300 | 395,495 |
Sinopec Oilfield Service Corp., Class A * | 195,700 | 51,763 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 67 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
China — continued | ||
Sinopharm Group Co. Ltd., Class H | 100,400 | 240,085 |
Sinotruk Hong Kong Ltd. | 49,000 | 92,292 |
Smoore International Holdings Ltd. (b) | 162,000 | 124,847 |
Spring Airlines Co. Ltd., Class A * | 5,900 | 44,018 |
StarPower Semiconductor Ltd., Class A | 5,300 | 124,347 |
Sunny Optical Technology Group Co. Ltd. | 53,900 | 451,571 |
TBEA Co. Ltd., Class A | 30,240 | 57,680 |
TCL Technology Group Corp., Class A * | 112,000 | 60,024 |
TCL Zhonghuan Renewable Energy Technology Co. Ltd., Class A | 29,400 | 73,979 |
Tencent Holdings Ltd. | 451,500 | 16,709,453 |
Tencent Music Entertainment Group, Class A * | 97,200 | 337,356 |
Tianqi Lithium Corp., Class A | 10,800 | 80,990 |
Tingyi Cayman Islands Holding Corp. | 142,000 | 188,359 |
Tongcheng Travel Holdings Ltd. * (b) | 86,400 | 165,063 |
Tonghua Dongbao Pharmaceutical Co. Ltd., Class A | 61,700 | 93,247 |
Tongwei Co. Ltd., Class A | 32,400 | 120,623 |
Topchoice Medical Corp., Class A * | 1,900 | 23,204 |
Topsports International Holdings Ltd. (b) | 216,000 | 181,644 |
Trip.com Group Ltd. * | 40,450 | 1,378,602 |
Tsingtao Brewery Co. Ltd. | 44,000 | 333,675 |
Unigroup Guoxin Microelectronics Co. Ltd., Class A * | 5,500 | 56,517 |
Uni-President China Holdings Ltd. | 90,000 | 61,302 |
Unisplendour Corp. Ltd., Class A * | 21,600 | 57,766 |
Vipshop Holdings Ltd., ADR * | 20,466 | 291,845 |
Wanhua Chemical Group Co. Ltd., Class A | 21,600 | 261,142 |
Want Want China Holdings Ltd. | 372,000 | 231,146 |
Weichai Power Co. Ltd., Class H | 145,000 | 217,039 |
Western Securities Co. Ltd., Class A | 469,900 | 426,301 |
Will Semiconductor Co. Ltd., Class A | 10,800 | 162,405 |
Wingtech Technology Co. Ltd., Class A * | 7,500 | 50,881 |
Wuliangye Yibin Co. Ltd., Class A | 27,000 | 573,639 |
WUS Printed Circuit Kunshan Co. Ltd., Class A | 11,500 | 30,692 |
WuXi AppTec Co. Ltd., Class A | 16,300 | 192,078 |
WuXi AppTec Co. Ltd., Class H (b) | 27,000 | 324,447 |
XCMG Construction Machinery Co. Ltd., Class A | 70,500 | 55,031 |
Xiamen Faratronic Co. Ltd., Class A | 5,500 | 74,802 |
Xinyi Glass Holdings Ltd. | 166,000 | 190,737 |
Xinyi Solar Holdings Ltd. | 338,000 | 198,916 |
XPeng, Inc., Class A * | 80,500 | 584,976 |
Yadea Group Holdings Ltd. (b) | 108,000 | 197,139 |
Yankuang Energy Group Co. Ltd., Class A | 24,250 | 64,559 |
Yankuang Energy Group Co. Ltd., Class H | 164,000 | 284,828 |
INVESTMENTS | SHARES | VALUE($) |
China — continued | ||
Yonyou Network Technology Co. Ltd., Class A | 20,500 | 45,763 |
YTO Express Group Co. Ltd., Class A | 20,500 | 37,942 |
Yuexiu Property Co. Ltd. | 120,000 | 124,819 |
Yum China Holdings, Inc. | 30,313 | 1,593,251 |
Yunnan Energy New Material Co. Ltd., Class A | 5,700 | 52,144 |
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A | 5,300 | 180,769 |
Zhaojin Mining Industry Co. Ltd., Class H | 104,000 | 128,934 |
Zhejiang Century Huatong Group Co. Ltd., Class A * | 44,500 | 35,516 |
Zhejiang China Commodities City Group Co. Ltd., Class A | 32,800 | 34,782 |
Zhejiang Dahua Technology Co. Ltd., Class A | 19,900 | 55,362 |
Zhejiang Huayou Cobalt Co. Ltd., Class A | 10,000 | 50,162 |
Zhejiang Sanhua Intelligent Controls Co. Ltd., Class A | 21,500 | 78,427 |
Zhejiang Zheneng Electric Power Co. Ltd., Class A * | 80,000 | 49,684 |
ZhongAn Online P&C Insurance Co. Ltd., Class H * (b) | 50,600 | 138,675 |
Zhongsheng Group Holdings Ltd. | 54,000 | 124,702 |
Zhuzhou CRRC Times Electric Co. Ltd., Class H | 39,700 | 128,127 |
Zijin Mining Group Co. Ltd., Class A | 124,200 | 209,949 |
Zijin Mining Group Co. Ltd., Class H | 416,000 | 643,515 |
ZJLD Group, Inc. * (a) | 35,800 | 52,115 |
ZTE Corp., Class A | 26,300 | 93,721 |
ZTE Corp., Class H | 56,200 | 124,891 |
ZTO Express Cayman, Inc. | 32,400 | 758,892 |
134,244,200 | ||
Colombia — 0.2% | ||
Banco de Bogota SA | 8,262 | 49,982 |
Bancolombia SA | 20,736 | 147,862 |
Bancolombia SA (Preference) | 34,074 | 218,550 |
Ecopetrol SA | 339,581 | 199,904 |
Grupo Aval Acciones y Valores SA (Preference) | 301,559 | 33,702 |
Grupo Energia Bogota SA ESP | 271,999 | 110,029 |
Grupo Nutresa SA | 8,190 | 99,072 |
Interconexion Electrica SA ESP | 33,426 | 117,754 |
976,855 | ||
Czech Republic — 0.1% | ||
CEZ A/S | 12,372 | 529,388 |
Komercni Banka A/S | 5,724 | 167,762 |
697,150 |
68 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Egypt — 0.1% | ||
Commercial International Bank Egypt SAE | 176,655 | 345,094 |
Greece — 0.3% | ||
Eurobank Ergasias Services and Holdings SA * | 187,380 | 306,277 |
Hellenic Telecommunications Organization SA | 14,742 | 206,630 |
JUMBO SA | 8,014 | 210,803 |
Motor Oil Hellas Corinth Refineries SA | 4,845 | 115,346 |
Mytilineos SA | 7,585 | 280,739 |
National Bank of Greece SA * | 41,364 | 236,906 |
OPAP SA | 13,349 | 226,109 |
1,582,810 | ||
Hong Kong — 0.1% | ||
Kingboard Laminates Holdings Ltd. | 60,000 | 56,268 |
Nine Dragons Paper Holdings Ltd. | 126,000 | 71,729 |
Orient Overseas International Ltd. | 10,000 | 126,098 |
Sino Biopharmaceutical Ltd. | 756,000 | 293,690 |
547,785 | ||
Hungary — 0.2% | ||
MOL Hungarian Oil & Gas plc | 32,773 | 260,770 |
OTP Bank Nyrt. | 16,491 | 613,796 |
Richter Gedeon Nyrt. | 9,479 | 222,256 |
1,096,822 | ||
India — 17.2% | ||
ABB India Ltd. | 3,942 | 194,422 |
ACC Ltd. | 6,318 | 143,331 |
Adani Energy Solutions Ltd. * | 25,958 | 240,004 |
Adani Enterprises Ltd. | 26,527 | 731,469 |
Adani Green Energy Ltd. * | 27,645 | 302,702 |
Adani Ports & Special Economic Zone Ltd. | 51,836 | 489,012 |
Adani Power Ltd. * | 58,104 | 253,363 |
Adani Total Gas Ltd. | 20,736 | 140,542 |
Adani Wilmar Ltd. * | 11,772 | 46,178 |
Alkem Laboratories Ltd. | 3,078 | 137,654 |
Ambuja Cements Ltd. | 55,404 | 282,655 |
Apollo Hospitals Enterprise Ltd. | 7,560 | 437,747 |
Ashok Leyland Ltd. | 108,378 | 218,509 |
Asian Paints Ltd. | 32,783 | 1,180,884 |
AU Small Finance Bank Ltd. (b) | 24,624 | 197,911 |
Aurobindo Pharma Ltd. | 21,168 | 216,005 |
Avenue Supermarts Ltd. * (b) | 10,883 | 475,162 |
Axis Bank Ltd. | 165,759 | 1,955,925 |
Bajaj Auto Ltd. | 5,184 | 330,692 |
Bajaj Finance Ltd. | 19,386 | 1,745,118 |
Bajaj Finserv Ltd. | 27,845 | 525,037 |
INVESTMENTS | SHARES | VALUE($) |
India — continued | ||
Bajaj Holdings & Investment Ltd. | 2,052 | 170,718 |
Balkrishna Industries Ltd. | 6,102 | 187,159 |
Bandhan Bank Ltd. (b) | 57,078 | 146,974 |
Bank of Baroda | 77,922 | 183,734 |
Berger Paints India Ltd. | 21,190 | 142,179 |
Bharat Electronics Ltd. | 260,457 | 417,276 |
Bharat Forge Ltd. | 19,278 | 236,127 |
Bharat Petroleum Corp. Ltd. | 71,874 | 301,307 |
Bharti Airtel Ltd. | 182,866 | 2,008,347 |
Biocon Ltd. | 34,006 | 89,741 |
Bosch Ltd. | 648 | 151,441 |
Britannia Industries Ltd. | 8,645 | 459,874 |
Canara Bank | 27,324 | 126,237 |
Cholamandalam Investment and Finance Co. Ltd. | 29,700 | 405,872 |
Cipla Ltd. | 39,329 | 566,933 |
Coal India Ltd. | 156,180 | 589,538 |
Colgate-Palmolive India Ltd. | 9,990 | 253,639 |
Container Corp. of India Ltd. | 20,628 | 170,576 |
Dabur India Ltd. | 42,634 | 270,838 |
Divi's Laboratories Ltd. | 9,266 | 377,094 |
DLF Ltd. | 46,602 | 315,700 |
Dr Reddy's Laboratories Ltd. | 9,126 | 589,034 |
Eicher Motors Ltd. | 10,476 | 414,619 |
Embassy Office Parks, REIT | 45,738 | 171,210 |
FSN E-Commerce Ventures Ltd. * | 85,071 | 142,408 |
GAIL India Ltd. | 198,126 | 284,473 |
Godrej Consumer Products Ltd. * | 28,458 | 339,078 |
Godrej Properties Ltd. * | 8,748 | 174,565 |
Grasim Industries Ltd. | 27,291 | 618,521 |
Havells India Ltd. | 18,227 | 272,887 |
HCL Technologies Ltd. | 76,958 | 1,180,415 |
HDFC Asset Management Co. Ltd. (b) | 7,297 | 239,686 |
HDFC Bank Ltd. | 398,098 | 7,064,065 |
HDFC Life Insurance Co. Ltd. (b) | 76,596 | 569,007 |
Hero MotoCorp Ltd. | 9,774 | 362,707 |
Hindalco Industries Ltd. | 106,216 | 586,286 |
Hindustan Aeronautics Ltd. (b) | 13,184 | 288,529 |
Hindustan Petroleum Corp. Ltd. * | 48,114 | 143,144 |
Hindustan Unilever Ltd. | 64,924 | 1,937,552 |
ICICI Bank Ltd. | 353,917 | 3,893,725 |
ICICI Lombard General Insurance Co. Ltd. (b) | 17,766 | 293,218 |
ICICI Prudential Life Insurance Co. Ltd. (b) | 29,268 | 184,691 |
Indian Hotels Co. Ltd. | 64,039 | 294,948 |
Indian Oil Corp. Ltd. | 283,953 | 305,885 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 69 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
India — continued | ||
Indian Railway Catering & Tourism Corp. Ltd. | 27,307 | 218,264 |
Indraprastha Gas Ltd. | 26,352 | 121,050 |
Indus Towers Ltd. * | 62,910 | 130,184 |
IndusInd Bank Ltd. | 43,254 | 749,312 |
Info Edge India Ltd. | 5,508 | 270,306 |
Infosys Ltd. | 259,550 | 4,268,499 |
InterGlobe Aviation Ltd. * (b) | 8,977 | 264,575 |
ITC Ltd. | 217,537 | 1,119,780 |
Jindal Steel & Power Ltd. | 29,970 | 228,197 |
JSW Energy Ltd. | 30,942 | 143,454 |
JSW Steel Ltd. | 68,551 | 606,545 |
Jubilant Foodworks Ltd. | 28,782 | 173,184 |
Kotak Mahindra Bank Ltd. | 79,485 | 1,661,620 |
L&T Technology Services Ltd. (b) | 1,998 | 100,586 |
Larsen & Toubro Ltd. | 50,084 | 1,762,501 |
LTIMindtree Ltd. (b) | 6,670 | 405,808 |
Lupin Ltd. | 18,144 | 245,870 |
Macrotech Developers Ltd. (b) | 18,144 | 171,713 |
Mahindra & Mahindra Ltd. | 69,627 | 1,220,233 |
Marico Ltd. | 38,934 | 250,884 |
Maruti Suzuki India Ltd. | 9,666 | 1,207,058 |
Mphasis Ltd. | 6,210 | 158,543 |
MRF Ltd. | 180 | 234,199 |
Muthoot Finance Ltd. | 8,079 | 126,058 |
Nestle India Ltd. | 2,595 | 755,636 |
NMDC Ltd. | 86,076 | 159,523 |
NTPC Ltd. | 345,506 | 978,871 |
Oil & Natural Gas Corp. Ltd. | 283,589 | 634,555 |
One 97 Communications Ltd. * | 19,373 | 214,402 |
Page Industries Ltd. | 432 | 196,294 |
Patanjali Foods Ltd. | 7,014 | 115,237 |
Petronet LNG Ltd. | 56,484 | 135,390 |
PI Industries Ltd. | 5,846 | 238,760 |
Pidilite Industries Ltd. | 11,091 | 327,462 |
Power Finance Corp. Ltd. | 109,350 | 323,839 |
Power Grid Corp. of India Ltd. | 331,394 | 804,869 |
Procter & Gamble Hygiene & Health Care Ltd. | 702 | 147,895 |
Punjab National Bank | 165,888 | 145,504 |
REC Ltd. | 93,204 | 322,160 |
Reliance Industries Ltd. | 250,908 | 6,899,415 |
Samvardhana Motherson International Ltd. | 172,464 | 190,474 |
SBI Cards & Payment Services Ltd. | 21,384 | 191,630 |
SBI Life Insurance Co. Ltd. (b) | 32,755 | 537,976 |
Shree Cement Ltd. | 708 | 218,215 |
INVESTMENTS | SHARES | VALUE($) |
India — continued | ||
Shriram Finance Ltd. | 20,185 | 455,478 |
Siemens Ltd. | 6,474 | 259,030 |
Sona Blw Precision Forgings Ltd. (b) | 29,799 | 193,931 |
SRF Ltd. | 10,562 | 278,506 |
Star Health & Allied Insurance Co. Ltd. * | 14,389 | 100,245 |
State Bank of India | 129,795 | 881,968 |
Steel Authority of India Ltd. | 105,115 | 105,912 |
Sun Pharmaceutical Industries Ltd. | 78,510 | 1,026,452 |
Sundaram Finance Ltd. | 5,076 | 193,594 |
Tata Consultancy Services Ltd. | 74,501 | 3,016,068 |
Tata Consumer Products Ltd. | 45,468 | 491,970 |
Tata Elxsi Ltd. | 2,592 | 237,432 |
Tata Motors Ltd. | 130,441 | 985,223 |
Tata Motors Ltd., Class A | 34,018 | 171,766 |
Tata Power Co. Ltd. (The) | 124,149 | 357,191 |
Tata Steel Ltd. | 586,533 | 836,975 |
Tech Mahindra Ltd. | 45,363 | 618,213 |
Titan Co. Ltd. | 30,343 | 1,163,222 |
Torrent Pharmaceuticals Ltd. | 7,344 | 169,759 |
Tube Investments of India Ltd. | 7,884 | 298,265 |
TVS Motor Co. Ltd. | 17,273 | 330,076 |
UltraTech Cement Ltd. | 8,396 | 849,709 |
United Spirits Ltd. * | 22,410 | 277,912 |
UPL Ltd. | 37,115 | 240,986 |
Varun Beverages Ltd. | 34,009 | 371,203 |
Vedanta Ltd. | 84,078 | 218,799 |
Voltas Ltd. | 17,172 | 172,801 |
Wipro Ltd. | 102,494 | 470,521 |
Yes Bank Ltd. * | 1,275,540 | 244,465 |
Zomato Ltd. * | 387,404 | 489,998 |
Zydus Lifesciences Ltd. | 19,062 | 131,349 |
83,181,828 | ||
Indonesia — 2.1% | ||
Adaro Energy Indonesia Tbk. PT | 1,058,400 | 170,772 |
Adaro Minerals Indonesia Tbk. PT * | 475,700 | 32,941 |
Allo Bank Indonesia Tbk. PT * | 242,900 | 18,273 |
Aneka Tambang Tbk. | 696,500 | 74,625 |
Astra International Tbk. PT | 1,528,200 | 555,928 |
Avia Avian Tbk. PT | 1,339,200 | 42,153 |
Bank Central Asia Tbk. PT | 4,033,800 | 2,222,304 |
Bank Mandiri Persero Tbk. PT | 3,257,700 | 1,163,820 |
Bank Negara Indonesia Persero Tbk. PT | 1,123,200 | 338,967 |
Bank Rakyat Indonesia Persero Tbk. PT | 5,179,800 | 1,619,640 |
Barito Pacific Tbk. PT | 2,057,400 | 145,708 |
70 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Indonesia — continued | ||
Bayan Resources Tbk. PT | 557,400 | 639,682 |
Bukit Asam Tbk. PT | 291,900 | 45,572 |
Capital Financial Indonesia Tbk. PT * | 1,307,300 | 45,636 |
Charoen Pokphand Indonesia Tbk. PT * | 540,000 | 197,167 |
Dayamitra Telekomunikasi PT | 1,336,400 | 52,160 |
Elang Mahkota Teknologi Tbk. PT | 2,997,000 | 94,426 |
GoTo Gojek Tokopedia Tbk. PT * | 7,857,500 | 29,727 |
Gudang Garam Tbk. PT | 34,400 | 50,404 |
Indah Kiat Pulp & Paper Tbk. PT | 194,400 | 117,496 |
Indocement Tunggal Prakarsa Tbk. PT | 140,400 | 82,017 |
Indofood CBP Sukses Makmur Tbk. PT | 162,000 | 105,553 |
Indofood Sukses Makmur Tbk. PT | 334,800 | 140,165 |
Kalbe Farma Tbk. PT | 1,431,600 | 152,257 |
Merdeka Copper Gold Tbk. PT * | 1,036,800 | 145,417 |
Mitra Keluarga Karyasehat Tbk. PT (b) | 410,400 | 70,790 |
Sarana Menara Nusantara Tbk. PT | 1,632,200 | 91,541 |
Semen Indonesia Persero Tbk. PT | 248,400 | 95,449 |
Sumber Alfaria Trijaya Tbk. PT | 1,436,400 | 261,328 |
Telkom Indonesia Persero Tbk. PT | 3,585,600 | 786,020 |
Transcoal Pacific Tbk. PT | 72,700 | 39,931 |
Trimegah Bangun Persada Tbk. PT | 642,400 | 39,409 |
Unilever Indonesia Tbk. PT | 426,600 | 97,217 |
United Tractors Tbk. PT | 150,800 | 238,642 |
10,003,137 | ||
Kuwait — 0.8% | ||
Agility Public Warehousing Co. KSC * | 118,559 | 201,867 |
Boubyan Bank KSCP | 112,698 | 213,565 |
Gulf Bank KSCP | 270,000 | 206,968 |
Kuwait Finance House KSCP | 590,000 | 1,305,304 |
Mabanee Co. KPSC | 47,090 | 125,660 |
Mobile Telecommunications Co. KSCP | 155,825 | 242,413 |
National Bank of Kuwait SAKP | 576,667 | 1,634,710 |
3,930,487 | ||
Luxembourg — 0.0% ^ | ||
Reinet Investments SCA | 7,268 | 151,018 |
Malaysia — 1.6% | ||
AMMB Holdings Bhd. | 162,000 | 129,963 |
Axiata Group Bhd. | 356,400 | 163,067 |
CELCOMDIGI Bhd. | 253,800 | 225,328 |
CIMB Group Holdings Bhd. | 545,400 | 653,442 |
Dialog Group Bhd. | 442,800 | 199,787 |
Gamuda Bhd. | 243,000 | 236,650 |
Genting Bhd. | 160,700 | 135,982 |
INVESTMENTS | SHARES | VALUE($) |
Malaysia — continued | ||
Genting Malaysia Bhd. | 291,600 | 148,179 |
HAP Seng Consolidated Bhd. | 199,800 | 205,902 |
Hong Leong Bank Bhd. | 59,400 | 241,865 |
IHH Healthcare Bhd. | 232,200 | 292,292 |
IOI Corp. Bhd. | 232,200 | 191,586 |
Kuala Lumpur Kepong Bhd. | 41,900 | 193,417 |
Malayan Banking Bhd. | 530,100 | 1,003,775 |
Malaysia Airports Holdings Bhd. | 81,200 | 125,983 |
Maxis Bhd. | 172,800 | 143,681 |
MR DIY Group M Bhd. (b) | 421,200 | 130,860 |
Petronas Chemicals Group Bhd. | 216,000 | 333,074 |
Petronas Dagangan Bhd. | 27,000 | 129,546 |
Petronas Gas Bhd. | 70,500 | 254,507 |
PPB Group Bhd. | 53,100 | 169,180 |
Press Metal Aluminium Holdings Bhd. | 270,000 | 279,093 |
Public Bank Bhd. | 1,100,900 | 961,528 |
RHB Bank Bhd. | 219,600 | 257,218 |
Sime Darby Bhd. | 233,700 | 112,320 |
Sime Darby Plantation Bhd. | 271,600 | 247,599 |
Telekom Malaysia Bhd. | 150,100 | 159,785 |
Tenaga Nasional Bhd. | 206,200 | 428,456 |
Top Glove Corp. Bhd. * | 394,200 | 60,005 |
7,814,070 | ||
Mexico — 2.0% | ||
Arca Continental SAB de CV | 35,309 | 316,839 |
Cemex SAB de CV * | 1,140,588 | 682,619 |
Coca-Cola Femsa SAB de CV | 39,582 | 300,910 |
Fibra Uno Administracion SA de CV, REIT | 216,486 | 329,130 |
Fomento Economico Mexicano SAB de CV | 133,583 | 1,510,320 |
Gruma SAB de CV, Class B | 13,716 | 238,898 |
Grupo Aeroportuario del Pacifico SAB de CV, Class B | 28,498 | 332,717 |
Grupo Aeroportuario del Sureste SAB de CV, Class B | 14,202 | 307,215 |
Grupo Bimbo SAB de CV | 109,215 | 443,306 |
Grupo Carso SAB de CV | 39,398 | 252,528 |
Grupo Elektra SAB de CV | 4,158 | 265,453 |
Grupo Financiero Banorte SAB de CV, Class O | 186,894 | 1,513,998 |
Grupo Financiero Inbursa SAB de CV, Class O * | 147,636 | 304,706 |
Grupo Mexico SAB de CV | 231,629 | 961,898 |
Industrias CH SAB de CV * | 8,461 | 90,575 |
Industrias Penoles SAB de CV * | 14,040 | 155,344 |
Kimberly-Clark de Mexico SAB de CV, Class A | 106,110 | 194,458 |
Operadora De Sites Mexicanos SAB de CV | 67,296 | 57,520 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 71 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Mexico — continued | ||
Orbia Advance Corp. SAB de CV | 70,157 | 113,861 |
Promotora y Operadora de Infraestructura SAB de CV | 17,881 | 147,350 |
Wal-Mart de Mexico SAB de CV | 355,530 | 1,273,905 |
9,793,550 | ||
Peru — 0.2% | ||
Credicorp Ltd. | 4,940 | 617,302 |
Enel Distribucion Peru SAA | 38,432 | 36,215 |
InRetail Peru Corp. (b) | 2,269 | 71,247 |
Intercorp Financial Services, Inc. | 2,434 | 45,857 |
770,621 | ||
Philippines — 0.8% | ||
Aboitiz Equity Ventures, Inc. | 169,520 | 136,859 |
ACEN Corp. | 662,900 | 62,037 |
Ayala Corp. | 18,900 | 202,074 |
Ayala Land, Inc. | 453,600 | 223,195 |
Bank of the Philippine Islands | 148,500 | 263,029 |
BDO Unibank, Inc. | 158,220 | 356,149 |
Emperador, Inc. | 240,200 | 88,054 |
Globe Telecom, Inc. | 2,365 | 73,359 |
GT Capital Holdings, Inc. | 6,410 | 62,019 |
International Container Terminal Services, Inc. | 61,020 | 216,195 |
JG Summit Holdings, Inc. | 230,100 | 149,252 |
Jollibee Foods Corp. | 33,480 | 121,023 |
Manila Electric Co. | 21,060 | 131,764 |
Metropolitan Bank & Trust Co. | 322,990 | 297,715 |
Monde Nissin Corp. * (b) | 545,400 | 78,821 |
PLDT, Inc. | 6,480 | 138,465 |
SM Investments Corp. | 36,720 | 518,975 |
SM Prime Holdings, Inc. | 869,400 | 459,676 |
Universal Robina Corp. | 65,880 | 127,006 |
3,705,667 | ||
Qatar — 0.9% | ||
Commercial Bank PSQC (The) | 240,894 | 339,144 |
Dukhan Bank | 113,706 | 113,314 |
Industries Qatar QSC | 136,387 | 458,171 |
Masraf Al Rayan QSC | 486,934 | 280,846 |
Mesaieed Petrochemical Holding Co. | 270,351 | 118,260 |
Ooredoo QPSC | 55,904 | 151,851 |
Qatar Electricity & Water Co. QSC | 38,676 | 175,726 |
Qatar Fuel QSC | 46,273 | 188,727 |
Qatar Gas Transport Co. Ltd. | 197,415 | 190,854 |
Qatar International Islamic Bank QSC | 87,804 | 223,067 |
INVESTMENTS | SHARES | VALUE($) |
Qatar — continued | ||
Qatar Islamic Bank SAQ | 120,282 | 574,817 |
Qatar National Bank QPSC | 322,403 | 1,318,479 |
4,133,256 | ||
Saudi Arabia — 3.8% | ||
ACWA Power Co. | 9,936 | 601,549 |
Advanced Petrochemical Co. | 9,558 | 95,160 |
Al Rajhi Bank | 142,531 | 2,551,386 |
Alinma Bank | 73,818 | 647,873 |
Almarai Co. JSC | 18,792 | 280,007 |
Arabian Internet & Communications Services Co. | 1,944 | 162,261 |
Bank Al-Jazira * | 30,240 | 131,956 |
Banque Saudi Fransi | 44,496 | 425,200 |
Bupa Arabia for Cooperative Insurance Co. | 1,900 | 107,874 |
Dr Sulaiman Al Habib Medical Services Group Co. | 6,372 | 427,998 |
Elm Co. | 1,998 | 373,440 |
Etihad Etisalat Co. | 28,404 | 349,031 |
Jarir Marketing Co. | 44,280 | 170,907 |
Mouwasat Medical Services Co. | 7,006 | 186,747 |
Nahdi Medical Co. | 2,970 | 112,296 |
Riyad Bank | 110,808 | 784,186 |
SABIC Agri-Nutrients Co. | 17,550 | 626,589 |
Sahara International Petrochemical Co. | 27,054 | 233,027 |
Saudi Arabian Mining Co. * | 88,594 | 848,837 |
Saudi Arabian Oil Co. (b) | 316,770 | 2,814,299 |
Saudi Aramco Base Oil Co. | 3,774 | 129,959 |
Saudi Awwal Bank | 27,864 | 248,801 |
Saudi Basic Industries Corp. | 65,448 | 1,344,907 |
Saudi Electricity Co. | 59,616 | 283,041 |
Saudi Industrial Investment Group | 27,864 | 178,225 |
Saudi Investment Bank (The) | 36,882 | 144,572 |
Saudi Kayan Petrochemical Co. * | 55,350 | 156,206 |
Saudi National Bank (The) | 213,798 | 1,913,097 |
Saudi Tadawul Group Holding Co. | 3,618 | 160,484 |
Saudi Telecom Co. | 135,845 | 1,391,612 |
Savola Group (The) | 22,356 | 216,910 |
Yanbu National Petrochemical Co. | 20,736 | 209,580 |
18,308,017 | ||
South Africa — 2.8% | ||
Absa Group Ltd. | 61,647 | 562,506 |
African Rainbow Minerals Ltd. | 8,154 | 67,192 |
Anglo American Platinum Ltd. | 4,212 | 140,730 |
Aspen Pharmacare Holdings Ltd. | 27,218 | 247,229 |
72 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
South Africa — continued | ||
Bid Corp. Ltd. | 24,391 | 517,449 |
Bidvest Group Ltd. (The) | 24,744 | 350,246 |
Capitec Bank Holdings Ltd. | 6,585 | 585,108 |
Clicks Group Ltd. | 17,960 | 264,656 |
Discovery Ltd. | 36,675 | 253,021 |
Exxaro Resources Ltd. | 18,144 | 182,110 |
FirstRand Ltd. | 387,512 | 1,277,510 |
Gold Fields Ltd. | 64,975 | 857,147 |
Growthpoint Properties Ltd., REIT | 249,478 | 129,708 |
Impala Platinum Holdings Ltd. | 64,260 | 267,681 |
Kumba Iron Ore Ltd. | 4,104 | 108,740 |
Life Healthcare Group Holdings Ltd. | 110,538 | 110,138 |
Mr Price Group Ltd. | 31,075 | 224,607 |
MTN Group Ltd. | 121,947 | 595,291 |
MultiChoice Group * | 33,372 | 125,001 |
Naspers Ltd., Class N * | 13,619 | 2,125,938 |
Nedbank Group Ltd. | 36,666 | 394,586 |
Northam Platinum Holdings Ltd. | 26,246 | 158,413 |
Old Mutual Ltd. | 366,266 | 232,877 |
Remgro Ltd. | 38,484 | 297,506 |
Sanlam Ltd. | 126,549 | 443,864 |
Sasol Ltd. | 41,976 | 530,566 |
Shoprite Holdings Ltd. | 34,401 | 440,831 |
Sibanye Stillwater Ltd. | 212,437 | 270,974 |
Standard Bank Group Ltd. | 97,648 | 958,221 |
Tiger Brands Ltd. | 12,204 | 112,986 |
Vodacom Group Ltd. | 49,860 | 271,431 |
Woolworths Holdings Ltd. | 65,425 | 243,586 |
13,347,849 | ||
South Korea — 11.8% | ||
Amorepacific Corp. | 2,214 | 207,820 |
AMOREPACIFIC Group | 2,457 | 52,195 |
BGF retail Co. Ltd. | 717 | 73,322 |
BNK Financial Group, Inc. | 21,621 | 108,822 |
Celltrion Healthcare Co. Ltd. | 8,100 | 400,671 |
Celltrion, Inc. | 8,410 | 933,959 |
Cheil Worldwide, Inc. | 9,206 | 135,552 |
CJ CheilJedang Corp. | 616 | 129,050 |
CJ Corp. | 1,109 | 69,175 |
CosmoAM&T Co. Ltd. * | 1,713 | 178,345 |
Coway Co. Ltd. | 4,050 | 129,603 |
DB Insurance Co. Ltd. | 3,726 | 242,410 |
Doosan Bobcat, Inc. | 3,937 | 113,114 |
Doosan Enerbility Co. Ltd. * | 32,607 | 324,896 |
INVESTMENTS | SHARES | VALUE($) |
South Korea — continued | ||
Ecopro BM Co. Ltd. | 3,343 | 489,072 |
Ecopro Co. Ltd. | 1,413 | 652,911 |
E-MART, Inc. | 1,458 | 78,605 |
F&F Co. Ltd. | 1,350 | 93,588 |
Hana Financial Group, Inc. | 22,248 | 646,900 |
Hanjin Kal Corp. | 2,669 | 84,279 |
Hankook Tire & Technology Co. Ltd. | 5,778 | 163,931 |
Hanmi Pharm Co. Ltd. | 477 | 99,734 |
Hanmi Science Co. Ltd. | 2,798 | 65,758 |
Hanon Systems | 12,042 | 61,447 |
Hanwha Aerospace Co. Ltd. | 2,484 | 186,750 |
Hanwha Corp. | 3,707 | 61,062 |
Hanwha Ocean Co. Ltd. * | 3,470 | 60,684 |
Hanwha Solutions Corp. * | 8,316 | 177,133 |
HD Hyundai Co. Ltd. | 3,437 | 146,390 |
HD Hyundai Heavy Industries Co. Ltd. * | 1,512 | 114,641 |
HD Korea Shipbuilding & Offshore Engineering Co. Ltd. * | 3,456 | 231,839 |
HLB, Inc. * | 8,788 | 189,345 |
HMM Co. Ltd. | 27,270 | 295,369 |
Hotel Shilla Co. Ltd. | 2,376 | 109,940 |
HYBE Co. Ltd. * | 1,334 | 217,260 |
Hyundai Engineering & Construction Co. Ltd. | 5,400 | 133,924 |
Hyundai Glovis Co. Ltd. | 1,620 | 205,596 |
Hyundai Marine & Fire Insurance Co. Ltd. | 4,291 | 100,096 |
Hyundai Mobis Co. Ltd. | 4,594 | 711,449 |
Hyundai Motor Co. | 9,999 | 1,259,716 |
Hyundai Motor Co. (Preference) | 2,626 | 195,091 |
Hyundai Rotem Co. Ltd. * | 5,400 | 93,360 |
Hyundai Steel Co. | 8,754 | 212,883 |
Industrial Bank of Korea | 21,600 | 178,761 |
Kakao Corp. | 21,972 | 619,299 |
Kakao Games Corp. * | 3,564 | 61,859 |
KakaoBank Corp. | 24,962 | 337,817 |
Kakaopay Corp. * | 1,836 | 46,806 |
Kangwon Land, Inc. | 14,662 | 159,648 |
KB Financial Group, Inc. | 27,287 | 1,040,133 |
Kia Corp. | 18,419 | 1,052,304 |
Korea Aerospace Industries Ltd. | 5,400 | 177,686 |
Korea Electric Power Corp. * | 18,673 | 233,729 |
Korea Investment Holdings Co. Ltd. | 3,074 | 114,917 |
Korea Zinc Co. Ltd. | 1,025 | 356,207 |
Korean Air Lines Co. Ltd. | 16,996 | 258,597 |
Krafton, Inc. * | 2,643 | 321,738 |
KT Corp. | 9,666 | 233,842 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 73 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
South Korea — continued | ||
KT&G Corp. | 7,487 | 472,305 |
Kumho Petrochemical Co. Ltd. | 1,296 | 121,807 |
L&F Co. Ltd. | 1,818 | 176,842 |
LG Chem Ltd. | 3,439 | 1,127,105 |
LG Chem Ltd. (Preference) | 540 | 112,782 |
LG Corp. | 8,121 | 464,838 |
LG Display Co. Ltd. * | 16,686 | 150,987 |
LG Electronics, Inc. | 7,853 | 582,559 |
LG Energy Solution Ltd. * | 2,894 | 829,619 |
LG H&H Co. Ltd. | 702 | 164,580 |
LG Innotek Co. Ltd. | 1,026 | 170,288 |
LG Uplus Corp. | 15,947 | 119,518 |
Lotte Chemical Corp. | 1,404 | 152,470 |
Lotte Energy Materials Corp. | 1,615 | 46,266 |
Meritz Financial Group, Inc. * | 8,208 | 305,482 |
NAVER Corp. | 10,974 | 1,534,200 |
NCSoft Corp. | 1,188 | 205,247 |
Netmarble Corp. * (b) | 1,944 | 55,811 |
Orion Corp. | 1,890 | 167,275 |
Pan Ocean Co. Ltd. | 17,930 | 57,244 |
Pearl Abyss Corp. * | 2,808 | 102,873 |
POSCO Future M Co. Ltd. | 2,253 | 397,030 |
POSCO Holdings, Inc. | 5,412 | 1,656,750 |
Posco International Corp. | 3,326 | 124,060 |
S-1 Corp. | 1,821 | 73,600 |
Samsung Biologics Co. Ltd. * (b) | 1,346 | 707,601 |
Samsung C&T Corp. | 6,343 | 501,514 |
Samsung Electro-Mechanics Co. Ltd. | 4,266 | 394,439 |
Samsung Electronics Co. Ltd. | 373,333 | 18,582,605 |
Samsung Electronics Co. Ltd. (Preference) | 59,838 | 2,389,016 |
Samsung Engineering Co. Ltd. * | 11,544 | 203,459 |
Samsung Fire & Marine Insurance Co. Ltd. | 2,484 | 474,997 |
Samsung Heavy Industries Co. Ltd. * | 51,193 | 259,522 |
Samsung Life Insurance Co. Ltd. | 6,835 | 365,941 |
Samsung SDI Co. Ltd. | 3,800 | 1,203,212 |
Samsung SDS Co. Ltd. | 3,017 | 309,257 |
Samsung Securities Co. Ltd. | 4,725 | 123,778 |
Shinhan Financial Group Co. Ltd. | 35,808 | 920,417 |
SK Biopharmaceuticals Co. Ltd. * | 2,106 | 117,857 |
SK Bioscience Co. Ltd. * | 1,837 | 82,678 |
SK Hynix, Inc. | 39,174 | 3,401,953 |
SK IE Technology Co. Ltd. * (b) | 2,106 | 92,864 |
SK Innovation Co. Ltd. * | 4,176 | 380,453 |
SK Square Co. Ltd. * | 7,506 | 237,174 |
INVESTMENTS | SHARES | VALUE($) |
South Korea — continued | ||
SK Telecom Co. Ltd. | 8,100 | 295,382 |
SK, Inc. | 2,836 | 299,002 |
SKC Co. Ltd. | 1,512 | 88,424 |
S-Oil Corp. | 3,132 | 154,572 |
Woori Financial Group, Inc. | 51,068 | 451,071 |
Yuhan Corp. | 3,942 | 168,040 |
57,007,796 | ||
Taiwan — 15.0% | ||
Accton Technology Corp. | 39,000 | 604,277 |
Acer, Inc. | 227,000 | 239,913 |
Advanced Energy Solution Holding Co. Ltd. | 4,000 | 76,166 |
Advantech Co. Ltd. | 36,196 | 371,724 |
ASE Technology Holding Co. Ltd. | 249,000 | 871,744 |
Asia Cement Corp. | 189,000 | 233,391 |
Asustek Computer, Inc. | 53,000 | 555,712 |
AUO Corp. | 540,000 | 261,384 |
Catcher Technology Co. Ltd. | 51,000 | 286,105 |
Cathay Financial Holding Co. Ltd. | 701,000 | 951,292 |
Chailease Holding Co. Ltd. | 117,200 | 635,757 |
Chang Hwa Commercial Bank Ltd. | 478,450 | 253,472 |
Cheng Shin Rubber Industry Co. Ltd. | 154,000 | 210,448 |
Chicony Electronics Co. Ltd. | 50,000 | 192,487 |
China Airlines Ltd. | 217,000 | 130,082 |
China Development Financial Holding Corp. * | 1,242,000 | 434,152 |
China Steel Corp. | 916,000 | 683,385 |
Chunghwa Telecom Co. Ltd. | 210,000 | 751,074 |
Compal Electronics, Inc. | 323,000 | 280,957 |
CTBC Financial Holding Co. Ltd. | 1,423,000 | 1,071,666 |
Delta Electronics, Inc. | 141,000 | 1,270,677 |
E Ink Holdings, Inc. | 65,000 | 338,203 |
E.Sun Financial Holding Co. Ltd. | 1,121,149 | 826,107 |
Eclat Textile Co. Ltd. | 17,000 | 270,576 |
eMemory Technology, Inc. | 5,000 | 313,257 |
Eva Airways Corp. | 193,000 | 163,667 |
Evergreen Marine Corp. Taiwan Ltd. | 74,000 | 246,256 |
Far Eastern New Century Corp. | 277,000 | 252,378 |
Far EasTone Telecommunications Co. Ltd. | 118,000 | 276,406 |
Feng TAY Enterprise Co. Ltd. | 45,360 | 250,470 |
First Financial Holding Co. Ltd. | 778,260 | 622,722 |
Formosa Chemicals & Fibre Corp. | 294,000 | 553,154 |
Formosa Petrochemical Corp. | 107,000 | 261,405 |
Formosa Plastics Corp. | 323,000 | 768,150 |
Foxconn Technology Co. Ltd. | 75,000 | 121,690 |
Fubon Financial Holding Co. Ltd. | 614,000 | 1,141,791 |
74 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Taiwan — continued | ||
Giant Manufacturing Co. Ltd. | 24,000 | 121,358 |
Global Unichip Corp. | 6,000 | 268,158 |
Globalwafers Co. Ltd. | 15,000 | 220,499 |
Highwealth Construction Corp. | 118,600 | 149,016 |
Hiwin Technologies Corp. | 21,000 | 127,263 |
Hon Hai Precision Industry Co. Ltd. | 816,000 | 2,435,527 |
Hotai Motor Co. Ltd. | 25,520 | 476,181 |
Hua Nan Financial Holdings Co. Ltd. | 744,000 | 466,580 |
Innolux Corp. | 666,550 | 251,267 |
Inventec Corp. | 227,000 | 284,378 |
Largan Precision Co. Ltd. | 8,000 | 512,375 |
Lite-On Technology Corp. | 162,000 | 504,389 |
Macronix International Co. Ltd. | 139,000 | 116,151 |
MediaTek, Inc. | 116,000 | 3,027,526 |
Mega Financial Holding Co. Ltd. | 806,360 | 915,004 |
Merida Industry Co. Ltd. | 16,000 | 81,978 |
Micro-Star International Co. Ltd. | 56,000 | 286,683 |
momo.com, Inc. | 6,500 | 107,162 |
Nan Ya Plastics Corp. | 378,000 | 723,236 |
Nan Ya Printed Circuit Board Corp. | 19,000 | 139,462 |
Nanya Technology Corp. | 87,000 | 174,416 |
Nien Made Enterprise Co. Ltd. | 15,000 | 132,710 |
Novatek Microelectronics Corp. | 41,000 | 577,406 |
Oneness Biotech Co. Ltd. | 27,163 | 164,607 |
Pegatron Corp. | 157,000 | 366,379 |
PharmaEssentia Corp. * | 23,000 | 228,688 |
Phison Electronics Corp. | 12,000 | 173,198 |
Polaris Group * | 40,000 | 90,531 |
Pou Chen Corp. | 189,000 | 168,468 |
Powerchip Semiconductor Manufacturing Corp. | 225,000 | 185,090 |
Powertech Technology, Inc. | 54,000 | 175,437 |
President Chain Store Corp. | 41,000 | 326,128 |
Quanta Computer, Inc. | 203,000 | 1,198,574 |
Radiant Opto-Electronics Corp. | 50,000 | 191,649 |
Realtek Semiconductor Corp. | 35,000 | 436,201 |
Ruentex Development Co. Ltd. | 138,900 | 139,300 |
Ruentex Industries Ltd. | 60,000 | 106,203 |
Shanghai Commercial & Savings Bank Ltd. (The) | 355,000 | 470,372 |
Shin Kong Financial Holding Co. Ltd. * | 1,134,000 | 304,647 |
Simplo Technology Co. Ltd. | 13,000 | 133,935 |
Sino-American Silicon Products, Inc. | 40,000 | 202,496 |
SinoPac Financial Holdings Co. Ltd. | 899,740 | 496,221 |
Synnex Technology International Corp. | 95,000 | 201,619 |
Taishin Financial Holding Co. Ltd. | 906,750 | 483,630 |
INVESTMENTS | SHARES | VALUE($) |
Taiwan — continued | ||
Taiwan Business Bank | 466,728 | 184,014 |
Taiwan Cement Corp. | 479,000 | 477,284 |
Taiwan Cooperative Financial Holding Co. Ltd. | 769,100 | 597,258 |
Taiwan High Speed Rail Corp. | 163,000 | 147,994 |
Taiwan Mobile Co. Ltd. | 125,000 | 369,408 |
Taiwan Semiconductor Manufacturing Co. Ltd. | 1,773,000 | 28,957,556 |
Tatung Co. Ltd. * | 151,000 | 167,348 |
Teco Electric and Machinery Co. Ltd. | 118,000 | 168,423 |
Tripod Technology Corp. | 34,000 | 174,067 |
Unimicron Technology Corp. | 100,000 | 445,991 |
Uni-President Enterprises Corp. | 347,000 | 727,988 |
United Microelectronics Corp. | 846,000 | 1,216,645 |
Vanguard International Semiconductor Corp. | 65,000 | 141,162 |
Voltronic Power Technology Corp. | 6,000 | 240,624 |
Walsin Lihwa Corp. | 220,000 | 234,142 |
Wan Hai Lines Ltd. | 108,000 | 154,360 |
Win Semiconductors Corp. | 28,000 | 125,498 |
Winbond Electronics Corp. | 202,000 | 156,534 |
Wistron Corp. | 217,000 | 605,105 |
Wiwynn Corp. | 8,000 | 379,065 |
WPG Holdings Ltd. | 121,000 | 267,752 |
Yageo Corp. | 25,000 | 407,589 |
Yang Ming Marine Transport Corp. | 129,000 | 168,136 |
Yuanta Financial Holding Co. Ltd. | 931,515 | 699,863 |
Zhen Ding Technology Holding Ltd. | 54,000 | 163,266 |
72,491,267 | ||
Thailand — 1.7% | ||
Advanced Info Service PCL, NVDR | 79,900 | 489,380 |
Airports of Thailand PCL, NVDR * | 315,200 | 585,206 |
B Grimm Power PCL, NVDR | 92,900 | 57,148 |
Bangkok Bank PCL, NVDR | 42,700 | 187,116 |
Bangkok Dusit Medical Services PCL, NVDR | 302,400 | 222,919 |
Bangkok Expressway & Metro PCL, NVDR | 567,000 | 124,558 |
Bank of Ayudhya PCL, NVDR | 126,100 | 100,006 |
Banpu PCL, NVDR | 252,000 | 53,269 |
Berli Jucker PCL, NVDR | 256,300 | 201,633 |
BTS Group Holdings PCL, NVDR | 513,200 | 106,409 |
Bumrungrad Hospital PCL, NVDR | 29,100 | 210,320 |
Carabao Group PCL, NVDR | 34,200 | 64,245 |
Central Pattana PCL, NVDR | 100,400 | 174,660 |
Central Retail Corp. PCL, NVDR | 226,800 | 231,955 |
Charoen Pokphand Foods PCL, NVDR | 394,100 | 205,005 |
CP ALL PCL, NVDR | 320,000 | 491,799 |
CP Axtra PCL, NVDR | 115,300 | 90,654 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 75 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Thailand — continued | ||
Delta Electronics Thailand PCL, NVDR | 327,400 | 719,706 |
Energy Absolute PCL, NVDR | 135,000 | 157,797 |
Gulf Energy Development PCL, NVDR | 415,800 | 500,431 |
Home Product Center PCL, NVDR | 297,000 | 98,332 |
Indorama Ventures PCL, NVDR | 215,600 | 142,055 |
Intouch Holdings PCL, NVDR | 86,000 | 169,873 |
JMT Network Services PCL, NVDR | 51,000 | 41,870 |
Kasikornbank PCL, NVDR | 86,400 | 315,986 |
Krung Thai Bank PCL, NVDR | 259,200 | 135,526 |
Krungthai Card PCL, NVDR | 78,800 | 95,926 |
Minor International PCL, NVDR | 199,300 | 155,311 |
Muangthai Capital PCL, NVDR | 52,200 | 53,013 |
Osotspa PCL, NVDR | 113,400 | 74,156 |
PTT Exploration & Production PCL, NVDR | 106,600 | 486,824 |
PTT Global Chemical PCL, NVDR | 124,200 | 119,285 |
PTT Oil & Retail Business PCL, NVDR | 226,800 | 115,494 |
PTT PCL, NVDR | 623,000 | 576,645 |
SCB X PCL, NVDR | 64,800 | 177,665 |
SCG Packaging PCL, NVDR | 89,700 | 89,878 |
Siam Cement PCL (The), NVDR | 21,600 | 173,029 |
Siam Global House PCL, NVDR | 163,600 | 71,822 |
Srisawad Corp. PCL, NVDR | 50,200 | 57,974 |
Thai Life Insurance PCL, NVDR | 224,900 | 69,464 |
Thai Union Group PCL, NVDR | 156,100 | 58,630 |
TMBThanachart Bank PCL, NVDR | 3,569,400 | 165,813 |
8,418,787 | ||
Turkey — 0.7% | ||
Akbank TAS | 231,120 | 240,430 |
Arcelik A/S | 15,232 | 73,042 |
Aselsan Elektronik Sanayi ve Ticaret A/S | 89,424 | 130,540 |
BIM Birlesik Magazalar A/S | 32,673 | 313,817 |
Coca-Cola Icecek A/S | 5,549 | 72,189 |
Enka Insaat ve Sanayi A/S | 135,594 | 145,477 |
Eregli Demir ve Celik Fabrikalari TAS * | 129,800 | 173,766 |
Ford Otomotiv Sanayi A/S | 5,238 | 145,436 |
Haci Omer Sabanci Holding A/S | 96,442 | 182,196 |
Hektas Ticaret TAS * | 78,138 | 60,629 |
KOC Holding A/S | 88,009 | 425,707 |
Petkim Petrokimya Holding A/S * | 92,564 | 64,429 |
Sasa Polyester Sanayi A/S * | 35,464 | 53,548 |
Tofas Turk Otomobil Fabrikasi A/S | 9,396 | 79,861 |
Turk Hava Yollari AO * | 51,179 | 392,708 |
Turkcell Iletisim Hizmetleri A/S * | 89,478 | 151,662 |
Turkiye Garanti Bankasi A/S | 43,828 | 72,739 |
INVESTMENTS | SHARES | VALUE($) |
Turkey — continued | ||
Turkiye Is Bankasi A/S, Class C | 254,510 | 189,181 |
Turkiye Petrol Rafinerileri A/S | 60,248 | 302,266 |
Turkiye Sise ve Cam Fabrikalari A/S | 99,198 | 166,204 |
Yapi ve Kredi Bankasi A/S | 203,634 | 124,281 |
3,560,108 | ||
United Arab Emirates — 3.0% | ||
Abu Dhabi Commercial Bank PJSC | 220,590 | 482,259 |
Abu Dhabi Islamic Bank PJSC | 109,458 | 306,947 |
Abu Dhabi National Oil Co. for Distribution PJSC | 216,648 | 198,186 |
ADNOC Drilling Co. PJSC | 125,720 | 124,590 |
Aldar Properties PJSC | 272,484 | 385,765 |
Alpha Dhabi Holding PJSC * | 104,204 | 535,631 |
Americana Restaurants International plc | 208,274 | 209,805 |
Dubai Electricity & Water Authority PJSC | 654,483 | 424,086 |
Dubai Islamic Bank PJSC | 217,154 | 319,258 |
Emaar Development PJSC | 58,175 | 98,175 |
Emaar Properties PJSC | 449,932 | 819,679 |
Emirates NBD Bank PJSC | 180,139 | 831,298 |
Emirates Telecommunications Group Co. PJSC | 252,973 | 1,271,408 |
Fertiglobe plc | 86,626 | 75,749 |
First Abu Dhabi Bank PJSC | 332,964 | 1,149,465 |
International Holding Co. PJSC * | 62,210 | 6,768,069 |
Multiply Group PJSC * | 268,774 | 249,048 |
Q Holding PJSC * | 154,926 | 129,913 |
Salik Co. PJSC | 136,350 | 118,420 |
14,497,751 | ||
United Kingdom — 0.1% | ||
Anglogold Ashanti plc | 30,515 | 563,282 |
United States — 0.1% | ||
JBS SA | 50,112 | 199,484 |
Parade Technologies Ltd. | 6,000 | 196,721 |
396,205 | ||
Total Common Stocks (Cost $515,289,385) | 478,605,371 | |
NO. OF RIGHTS | ||
Rights — 0.0% ^ | ||
Kuwait — 0.0% ^ | ||
Gulf Bank KSCP, expiring 11/12/2023* | 20,959 | 433 |
76 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | NO. OF RIGHTS | VALUE($) |
Rights — continued | ||
Taiwan — 0.0% ^ | ||
Winbond Electronics Corp., expiring 11/3/2023* | 8,120 | 785 |
Total Rights (Cost $—) | 1,218 | |
SHARES | ||
Short-Term Investments — 0.9% | ||
Investment Companies — 0.9% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (c) (d)(Cost $4,440,195) | 4,440,195 | 4,440,195 |
Total Investments — 99.9% (Cost $519,729,580) | 483,046,784 | |
Other Assets Less Liabilities — 0.1% | 358,830 | |
NET ASSETS — 100.0% | 483,405,614 |
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 |
SCA | Limited partnership with share capital |
^ | Amount rounds to less than 0.1% of net assets. | |
* | Non-income producing security. | |
(a) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. | |
(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 October 31, 2023. |
INDUSTRY October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Banks | 17.5 % |
Semiconductors & Semiconductor Equipment | 9.0 |
Technology Hardware, Storage & Peripherals | 5.7 |
Oil, Gas & Consumable Fuels | 5.4 |
Interactive Media & Services | 4.7 |
Broadline Retail | 4.6 |
Metals & Mining | 3.7 |
Automobiles | 3.0 |
Industrial Conglomerates | 2.9 |
Chemicals | 2.8 |
Insurance | 2.6 |
Electronic Equipment, Instruments & Components | 2.5 |
IT Services | 2.3 |
Hotels, Restaurants & Leisure | 2.2 |
Beverages | 1.9 |
Food Products | 1.8 |
Pharmaceuticals | 1.4 |
Real Estate Management & Development | 1.4 |
Consumer Staples Distribution & Retail | 1.3 |
Wireless Telecommunication Services | 1.3 |
Diversified Telecommunication Services | 1.2 |
Electric Utilities | 1.1 |
Financial Services | 1.1 |
Electrical Equipment | 1.1 |
Independent Power and Renewable Electricity Producers | 1.0 |
Entertainment | 1.0 |
Capital Markets | 1.0 |
Others (each less than 1.0%) | 13.6 |
Short-Term Investments | 0.9 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 77 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
MSCI Emerging Markets E-Mini Index | 100 | 12/15/2023 | USD | 4,594,000 | (242,212 ) |
Abbreviations | |
MSCI | Morgan Stanley Capital International |
USD | United States Dollar |
78 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 98.8% | ||
Australia — 1.7% | ||
Flutter Entertainment plc * | 97,569 | 15,323,921 |
Glencore plc | 6,206,280 | 32,873,616 |
Rio Tinto plc | 617,491 | 39,396,248 |
87,593,785 | ||
Austria — 0.5% | ||
ANDRITZ AG | 39,644 | 1,824,778 |
BAWAG Group AG (a) | 45,580 | 2,030,152 |
Erste Group Bank AG | 197,088 | 7,057,575 |
EVN AG | 20,197 | 548,152 |
Mondi plc | 268,472 | 4,342,673 |
OMV AG | 77,740 | 3,409,537 |
Raiffeisen Bank International AG * | 74,512 | 1,079,511 |
Strabag SE | 6,797 | 268,733 |
Telekom Austria AG | 77,092 | 538,369 |
Verbund AG | 46,081 | 4,003,829 |
Vienna Insurance Group AG Wiener Versicherung Gruppe | 19,562 | 524,708 |
voestalpine AG | 58,199 | 1,453,288 |
27,081,305 | ||
Belgium — 1.4% | ||
Ackermans & van Haaren NV | 12,400 | 1,840,818 |
Ageas SA | 94,493 | 3,629,745 |
Anheuser-Busch InBev SA | 575,823 | 32,763,200 |
Azelis Group NV | 49,861 | 850,398 |
D'ieteren Group | 12,169 | 1,807,593 |
Elia Group SA/NV | 18,685 | 1,774,253 |
Etablissements Franz Colruyt NV | 24,449 | 1,011,834 |
Groupe Bruxelles Lambert NV | 53,496 | 3,912,729 |
KBC Group NV | 186,686 | 10,274,237 |
Sofina SA | 8,701 | 1,652,966 |
Solvay SA | 40,352 | 4,265,838 |
UCB SA | 66,623 | 4,872,807 |
Umicore SA | 110,263 | 2,623,471 |
Warehouses De Pauw CVA, REIT | 89,254 | 2,208,369 |
73,488,258 | ||
Brazil — 0.1% | ||
Yara International ASA | 90,060 | 2,946,938 |
Chile — 0.1% | ||
Antofagasta plc | 190,616 | 3,116,864 |
China — 0.5% | ||
Prosus NV * | 837,495 | 23,421,036 |
INVESTMENTS | SHARES | VALUE($) |
Denmark — 5.1% | ||
AP Moller - Maersk A/S, Class A | 1,458 | 2,380,566 |
AP Moller - Maersk A/S, Class B | 2,593 | 4,320,537 |
Carlsberg A/S, Class B | 49,824 | 5,937,686 |
Chr Hansen Holding A/S | 56,812 | 3,876,836 |
Coloplast A/S, Class B | 64,538 | 6,730,303 |
Danske Bank A/S | 376,300 | 8,827,523 |
Demant A/S * | 51,962 | 1,982,847 |
DSV A/S | 99,217 | 14,827,080 |
Genmab A/S * | 36,484 | 10,313,404 |
Novo Nordisk A/S, Class B | 1,783,889 | 172,102,896 |
Novozymes A/S, Class B | 115,497 | 5,190,779 |
Orsted A/S (a) | 104,506 | 5,049,638 |
Pandora A/S | 46,215 | 5,241,732 |
Tryg A/S | 192,903 | 3,766,926 |
Vestas Wind Systems A/S * | 557,911 | 12,092,600 |
262,641,353 | ||
Finland — 1.8% | ||
Elisa OYJ | 83,202 | 3,528,484 |
Fortum OYJ | 242,901 | 2,884,068 |
Huhtamaki OYJ | 52,976 | 1,821,111 |
Kesko OYJ, Class A | 50,981 | 878,810 |
Kesko OYJ, Class B | 150,885 | 2,551,690 |
Kone OYJ, Class B | 222,827 | 9,649,160 |
Metso OYJ | 389,278 | 3,429,705 |
Neste OYJ | 237,971 | 7,997,715 |
Nokia OYJ (b) | 2,924,887 | 9,741,870 |
Nordea Bank Abp | 1,977,450 | 20,826,934 |
Orion OYJ, Class A | 15,943 | 632,598 |
Orion OYJ, Class B | 59,474 | 2,366,204 |
Sampo OYJ, Class A | 257,719 | 10,135,780 |
Stora Enso OYJ, Class A | 27,778 | 339,476 |
Stora Enso OYJ, Class R | 338,310 | 4,065,945 |
UPM-Kymmene OYJ | 294,856 | 9,929,548 |
Wartsila OYJ Abp | 268,067 | 3,198,977 |
93,978,075 | ||
France — 15.3% | ||
Adevinta ASA * | 173,869 | 1,528,230 |
Aeroports de Paris SA | 21,859 | 2,454,738 |
Air Liquide SA | 289,354 | 49,581,460 |
Airbus SE | 340,585 | 45,664,348 |
Alstom SA | 154,001 | 2,085,553 |
Amundi SA (a) | 32,863 | 1,716,742 |
AXA SA | 959,131 | 28,419,460 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 79 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
France — continued | ||
BioMerieux | 26,105 | 2,506,404 |
BNP Paribas SA | 600,085 | 34,507,303 |
Bollore SE | 440,198 | 2,403,061 |
Bouygues SA | 107,462 | 3,780,408 |
Bureau Veritas SA | 157,929 | 3,597,271 |
Capgemini SE | 86,299 | 15,251,518 |
Carrefour SA | 298,316 | 5,229,916 |
Cie de Saint-Gobain SA | 283,932 | 15,455,596 |
Cie Generale des Etablissements Michelin SCA | 394,512 | 11,720,342 |
Credit Agricole SA | 618,524 | 7,468,609 |
Danone SA | 348,227 | 20,716,183 |
Dassault Aviation SA | 12,057 | 2,396,801 |
Dassault Systemes SE | 370,142 | 15,247,397 |
Edenred SE | 137,883 | 7,339,717 |
Eiffage SA | 41,688 | 3,783,210 |
Engie SA | 968,681 | 15,406,763 |
EssilorLuxottica SA | 157,878 | 28,589,106 |
Gecina SA, REIT | 28,369 | 2,785,576 |
Getlink SE | 179,271 | 2,894,991 |
Hermes International SCA | 18,664 | 34,823,774 |
Ipsen SA | 21,296 | 2,517,026 |
Kering SA | 38,376 | 15,607,584 |
Legrand SA | 147,410 | 12,751,906 |
L'Oreal SA | 127,319 | 53,516,087 |
LVMH Moet Hennessy Louis Vuitton SE | 144,223 | 103,253,656 |
Orange SA | 1,014,006 | 11,926,788 |
Pernod Ricard SA | 110,158 | 19,561,463 |
Publicis Groupe SA | 129,256 | 9,841,983 |
Safran SA | 191,199 | 29,869,021 |
Sartorius Stedim Biotech | 13,234 | 2,477,707 |
Societe Generale SA | 389,949 | 8,762,844 |
Sodexo SA | 44,795 | 4,740,592 |
Teleperformance SE | 32,892 | 3,783,952 |
Thales SA | 52,258 | 7,712,111 |
TotalEnergies SE | 1,283,568 | 85,816,125 |
Veolia Environnement SA | 335,931 | 9,204,644 |
Vinci SA | 280,570 | 31,023,859 |
Vivendi SE | 341,394 | 3,061,452 |
Worldline SA * (a) | 137,519 | 1,748,680 |
784,531,957 | ||
Germany — 11.8% | ||
adidas AG | 91,488 | 16,267,281 |
Allianz SE (Registered) | 222,814 | 52,192,519 |
BASF SE | 493,086 | 22,784,102 |
INVESTMENTS | SHARES | VALUE($) |
Germany — continued | ||
Bayer AG (Registered) | 542,737 | 23,450,886 |
Bayerische Motoren Werke AG | 160,158 | 14,895,393 |
Bayerische Motoren Werke AG (Preference) | 32,558 | 2,768,394 |
Beiersdorf AG | 54,294 | 7,140,750 |
Brenntag SE | 85,355 | 6,347,136 |
Carl Zeiss Meditec AG | 20,264 | 1,759,574 |
Commerzbank AG | 581,175 | 6,268,294 |
Continental AG | 59,674 | 3,896,055 |
Covestro AG * (a) | 106,730 | 5,407,174 |
Daimler Truck Holding AG | 286,417 | 8,999,286 |
Deutsche Bank AG (Registered) | 1,127,146 | 12,403,735 |
Deutsche Boerse AG | 104,959 | 17,275,880 |
Deutsche Lufthansa AG (Registered) * | 330,218 | 2,315,480 |
Deutsche Post AG | 520,246 | 20,312,222 |
Deutsche Telekom AG (Registered) | 1,928,351 | 41,852,285 |
Deutsche Wohnen SE | 28,330 | 609,615 |
E.ON SE | 1,240,326 | 14,757,554 |
Evonik Industries AG | 113,269 | 2,084,702 |
Fresenius SE & Co. KGaA | 227,149 | 5,843,019 |
GEA Group AG | 86,758 | 2,967,161 |
Hannover Rueck SE | 33,313 | 7,355,958 |
Heidelberg Materials AG | 75,732 | 5,497,638 |
Henkel AG & Co. KGaA | 54,537 | 3,446,759 |
Henkel AG & Co. KGaA (Preference) | 89,569 | 6,461,067 |
Infineon Technologies AG | 721,459 | 21,073,977 |
Mercedes-Benz Group AG | 443,283 | 26,080,232 |
Merck KGaA | 71,395 | 10,783,387 |
MTU Aero Engines AG | 29,730 | 5,587,953 |
Muenchener Rueckversicherungs- Gesellschaft AG (Registered) | 75,389 | 30,254,201 |
Porsche Automobil Holding SE (Preference) | 84,602 | 3,786,625 |
Puma SE | 55,829 | 3,163,724 |
RWE AG | 373,946 | 14,309,204 |
SAP SE | 563,310 | 75,558,085 |
Sartorius AG (Preference) | 14,890 | 3,732,028 |
Siemens AG (Registered) | 415,440 | 55,128,417 |
Siemens Energy AG * | 282,620 | 2,512,755 |
Siemens Healthineers AG (a) | 155,797 | 7,664,711 |
Symrise AG | 73,353 | 7,495,890 |
Talanx AG | 29,391 | 1,852,200 |
Telefonica Deutschland Holding AG | 476,566 | 810,199 |
Volkswagen AG (Preference) | 101,395 | 10,753,013 |
80 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Germany — continued | ||
Vonovia SE | 450,056 | 10,361,228 |
Zalando SE * (a) | 121,009 | 2,830,459 |
609,098,207 | ||
Hong Kong — 0.3% | ||
Prudential plc | 1,521,031 | 15,904,492 |
Ireland — 0.3% | ||
Kerry Group plc, Class A | 86,093 | 6,650,152 |
Kingspan Group plc | 85,436 | 5,749,743 |
Smurfit Kappa Group plc | 143,721 | 4,684,721 |
17,084,616 | ||
Italy — 3.8% | ||
A2A SpA | 865,390 | 1,624,331 |
Amplifon SpA | 51,286 | 1,449,519 |
Assicurazioni Generali SpA | 611,608 | 12,148,770 |
Banca Mediolanum SpA | 123,269 | 1,006,560 |
Banco BPM SpA | 837,076 | 4,282,765 |
Buzzi SpA | 52,144 | 1,380,730 |
Coca-Cola HBC AG | 113,244 | 2,940,004 |
Davide Campari-Milano NV | 295,203 | 3,263,105 |
DiaSorin SpA | 14,528 | 1,302,034 |
Enel SpA | 4,268,637 | 27,095,514 |
Eni SpA | 1,324,181 | 21,647,263 |
Ferrari NV | 69,629 | 21,076,976 |
FinecoBank Banca Fineco SpA | 337,349 | 3,979,587 |
Hera SpA | 444,364 | 1,250,037 |
Infrastrutture Wireless Italiane SpA (a) | 196,270 | 2,149,125 |
Intesa Sanpaolo SpA | 8,886,465 | 23,156,270 |
Leonardo SpA | 223,576 | 3,378,790 |
Mediobanca Banca di Credito Finanziario SpA (b) | 351,872 | 4,203,269 |
Moncler SpA | 113,797 | 5,910,295 |
Nexi SpA * (a) | 471,257 | 2,738,385 |
Pirelli & C SpA (a) | 187,832 | 836,845 |
Poste Italiane SpA (a) | 252,543 | 2,500,236 |
Prysmian SpA | 152,714 | 5,718,681 |
Recordati Industria Chimica e Farmaceutica SpA | 55,463 | 2,565,407 |
Snam SpA | 1,132,592 | 5,193,551 |
Telecom Italia SpA * | 8,919,521 | 2,312,409 |
Terna - Rete Elettrica Nazionale | 777,302 | 5,951,831 |
UniCredit SpA | 997,130 | 24,997,666 |
UnipolSai Assicurazioni SpA | 234,484 | 555,763 |
196,615,718 |
INVESTMENTS | SHARES | VALUE($) |
Jordan — 0.0% ^ | ||
Hikma Pharmaceuticals plc | 94,294 | 2,184,749 |
Luxembourg — 0.2% | ||
ArcelorMittal SA | 254,414 | 5,629,485 |
Eurofins Scientific SE | 71,364 | 3,620,708 |
9,250,193 | ||
Mexico — 0.0% ^ | ||
Fresnillo plc | 101,778 | 685,026 |
Netherlands — 8.3% | ||
Adyen NV * (a) | 17,128 | 11,552,597 |
Aegon Ltd. | 751,284 | 3,653,695 |
Akzo Nobel NV | 94,240 | 6,322,063 |
Argenx SE * | 27,570 | 12,968,421 |
Argenx SE * | 4,759 | 2,304,244 |
ASM International NV | 25,392 | 10,478,770 |
ASML Holding NV | 222,718 | 133,880,337 |
EXOR NV | 57,242 | 4,913,035 |
HAL Trust | 49,927 | 5,623,940 |
Heineken Holding NV | 55,699 | 4,237,774 |
Heineken NV | 140,011 | 12,579,071 |
ING Groep NV | 1,999,608 | 25,636,033 |
JDE Peet's NV | 72,220 | 2,005,155 |
Koninklijke Ahold Delhaize NV | 539,028 | 15,961,583 |
Koninklijke KPN NV | 1,851,258 | 6,222,410 |
Koninklijke Philips NV * | 513,034 | 9,759,177 |
NN Group NV | 162,970 | 5,226,836 |
Randstad NV | 68,098 | 3,526,439 |
Shell plc | 3,700,068 | 119,241,549 |
Universal Music Group NV | 422,471 | 10,345,821 |
Wolters Kluwer NV | 142,261 | 18,252,938 |
424,691,888 | ||
Norway — 1.1% | ||
Aker ASA, Class A | 13,133 | 789,766 |
Aker BP ASA (b) | 171,088 | 4,931,031 |
AutoStore Holdings Ltd. * (b) (c) | 492,464 | 545,252 |
DNB Bank ASA | 494,287 | 8,917,858 |
Equinor ASA (b) | 547,502 | 18,354,028 |
Gjensidige Forsikring ASA | 104,959 | 1,574,045 |
Kongsberg Gruppen ASA | 48,588 | 1,984,806 |
Mowi ASA | 245,704 | 3,992,606 |
Norsk Hydro ASA | 744,264 | 4,244,320 |
Orkla ASA | 414,932 | 2,859,917 |
Salmar ASA | 39,292 | 1,863,026 |
Schibsted ASA, Class A | 39,246 | 786,259 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 81 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Norway — continued | ||
Schibsted ASA, Class B | 53,056 | 984,485 |
Storebrand ASA | 257,159 | 2,147,521 |
Telenor ASA | 347,537 | 3,552,660 |
TOMRA Systems ASA | 129,204 | 1,024,119 |
Var Energi ASA (b) | 220,667 | 745,504 |
59,297,203 | ||
Poland — 0.5% | ||
Allegro.eu SA * (a) | 233,556 | 1,675,363 |
Bank Polska Kasa Opieki SA | 97,159 | 2,952,390 |
Dino Polska SA * (a) | 26,545 | 2,515,280 |
ING Bank Slaski SA * | 17,976 | 933,515 |
KGHM Polska Miedz SA | 75,133 | 2,004,946 |
LPP SA | 579 | 1,865,226 |
ORLEN SA | 320,686 | 5,071,304 |
Powszechna Kasa Oszczednosci Bank Polski SA * | 476,499 | 4,935,940 |
Powszechny Zaklad Ubezpieczen SA | 314,855 | 3,562,861 |
Santander Bank Polska SA * | 18,631 | 2,023,457 |
27,540,282 | ||
Portugal — 0.3% | ||
EDP - Energias de Portugal SA | 1,641,145 | 6,896,910 |
Galp Energia SGPS SA | 246,746 | 3,714,704 |
Jeronimo Martins SGPS SA | 152,961 | 3,526,497 |
14,138,111 | ||
Russia — 0.0% ^ | ||
Evraz plc ‡ * | 453,755 | 22,579 |
Singapore — 0.3% | ||
STMicroelectronics NV | 362,478 | 13,817,701 |
South Africa — 0.4% | ||
Anglo American plc | 738,960 | 18,828,413 |
South Korea — 0.1% | ||
Delivery Hero SE * (a) | 110,193 | 2,816,104 |
Spain — 3.8% | ||
Acciona SA | 13,627 | 1,718,005 |
ACS Actividades de Construccion y Servicios SA | 110,643 | 4,001,289 |
Aena SME SA (a) | 40,596 | 5,890,509 |
Amadeus IT Group SA | 248,872 | 14,203,825 |
Banco Bilbao Vizcaya Argentaria SA | 3,295,649 | 25,927,644 |
Banco Santander SA | 8,941,009 | 32,884,455 |
CaixaBank SA | 2,238,081 | 9,099,011 |
Cellnex Telecom SA (a) | 323,937 | 9,522,488 |
INVESTMENTS | SHARES | VALUE($) |
Spain — continued | ||
Corp. ACCIONA Energias Renovables SA | 30,925 | 837,022 |
EDP Renovaveis SA | 164,059 | 2,639,209 |
Endesa SA | 175,470 | 3,301,410 |
Iberdrola SA | 3,192,504 | 35,507,086 |
Industria de Diseno Textil SA (b) | 619,843 | 21,395,726 |
Naturgy Energy Group SA | 101,780 | 2,879,833 |
Redeia Corp. SA | 224,200 | 3,496,380 |
Repsol SA | 705,711 | 10,333,124 |
Telefonica SA | 3,176,862 | 12,271,071 |
195,908,087 | ||
Sweden — 4.8% | ||
Alfa Laval AB | 159,847 | 5,180,127 |
Assa Abloy AB, Class B | 547,898 | 11,678,488 |
Atlas Copco AB, Class A | 1,428,274 | 18,494,751 |
Atlas Copco AB, Class B | 862,318 | 9,686,634 |
Axfood AB | 59,903 | 1,324,486 |
Beijer Ref AB (b) | 215,294 | 2,046,659 |
Boliden AB | 151,093 | 3,872,990 |
Castellum AB | 234,035 | 2,242,937 |
Electrolux AB, Class B * | 124,531 | 1,047,955 |
Embracer Group AB * (b) | 495,095 | 806,087 |
Epiroc AB, Class A | 345,872 | 5,698,145 |
Epiroc AB, Class B | 215,435 | 2,991,383 |
EQT AB | 189,912 | 3,469,657 |
Essity AB, Class A | 15,402 | 352,540 |
Essity AB, Class B | 332,976 | 7,592,476 |
Evolution AB (a) | 106,012 | 9,446,247 |
Fastighets AB Balder, Class B * | 366,195 | 1,555,890 |
Getinge AB, Class B | 120,752 | 2,173,915 |
H & M Hennes & Mauritz AB, Class B (b) | 340,968 | 4,580,794 |
Hexagon AB, Class B | 1,161,330 | 9,464,418 |
Holmen AB, Class B | 51,188 | 1,931,828 |
Husqvarna AB, Class B | 193,187 | 1,251,806 |
Industrivarden AB, Class A | 86,157 | 2,229,348 |
Industrivarden AB, Class C (b) | 82,656 | 2,131,641 |
Indutrade AB | 146,919 | 2,603,900 |
Investment AB Latour, Class B | 75,251 | 1,303,222 |
Investor AB, Class A | 309,956 | 5,641,613 |
Investor AB, Class B | 1,006,539 | 18,477,140 |
Kinnevik AB, Class B * | 134,357 | 1,148,822 |
L E Lundbergforetagen AB, Class B | 40,301 | 1,645,893 |
Lifco AB, Class B | 117,072 | 2,142,180 |
Nibe Industrier AB, Class B | 847,084 | 4,878,667 |
Nordnet AB publ | 89,772 | 1,271,048 |
82 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Sweden — continued | ||
Saab AB, Class B | 45,715 | 2,348,445 |
Sagax AB, Class B | 114,121 | 2,065,924 |
Sagax AB, Class D | 62,085 | 139,772 |
Sandvik AB | 595,974 | 10,151,236 |
Securitas AB, Class B | 277,735 | 2,224,771 |
Skandinaviska Enskilda Banken AB, Class A | 923,430 | 10,305,031 |
Skandinaviska Enskilda Banken AB, Class C | 11,069 | 127,290 |
Skanska AB, Class B | 196,798 | 2,954,712 |
SKF AB, Class A | 7,322 | 118,605 |
SKF AB, Class B | 207,081 | 3,357,293 |
SSAB AB, Class A | 122,677 | 734,899 |
SSAB AB, Class B | 348,768 | 2,023,394 |
Svenska Cellulosa AB SCA, Class A | 16,765 | 229,133 |
Svenska Cellulosa AB SCA, Class B | 331,195 | 4,544,479 |
Svenska Handelsbanken AB, Class A | 870,273 | 7,419,683 |
Svenska Handelsbanken AB, Class B (b) | 19,134 | 197,397 |
Swedbank AB, Class A | 506,559 | 8,319,378 |
Swedish Orphan Biovitrum AB * (b) | 127,142 | 2,615,592 |
Tele2 AB, Class B | 307,383 | 2,182,924 |
Telefonaktiebolaget LM Ericsson, Class A | 29,810 | 139,403 |
Telefonaktiebolaget LM Ericsson, Class B | 1,702,883 | 7,628,456 |
Telia Co. AB (b) | 1,281,665 | 2,717,062 |
Trelleborg AB, Class B | 125,199 | 3,166,169 |
Volvo AB, Class A | 105,715 | 2,119,513 |
Volvo AB, Class B | 877,553 | 17,388,885 |
Volvo Car AB, Class B * (b) | 296,286 | 1,021,918 |
246,605,051 | ||
Switzerland — 8.5% | ||
ABB Ltd. (Registered) | 894,160 | 30,041,736 |
Alcon, Inc. | 276,053 | 19,758,817 |
Baloise Holding AG (Registered) | 25,300 | 3,632,723 |
Barry Callebaut AG (Registered) | 1,972 | 2,989,944 |
Chocoladefabriken Lindt & Spruengli AG | 552 | 6,111,312 |
Chocoladefabriken Lindt & Spruengli AG (Registered) | 58 | 6,312,318 |
Cie Financiere Richemont SA (Registered) | 288,374 | 34,021,072 |
DSM-Firmenich AG | 114,485 | 10,378,728 |
EMS-Chemie Holding AG (Registered) | 3,751 | 2,565,910 |
Geberit AG (Registered) | 18,471 | 8,600,351 |
Givaudan SA (Registered) | 4,385 | 14,595,574 |
Julius Baer Group Ltd. | 113,814 | 6,744,811 |
Kuehne + Nagel International AG (Registered) | 30,692 | 8,276,518 |
Lonza Group AG (Registered) | 41,146 | 14,409,493 |
Novartis AG (Registered) | 1,144,958 | 107,190,472 |
INVESTMENTS | SHARES | VALUE($) |
Switzerland — continued | ||
Partners Group Holding AG | 12,099 | 12,811,190 |
Schindler Holding AG | 22,498 | 4,551,858 |
Schindler Holding AG (Registered) | 11,111 | 2,165,989 |
SGS SA (Registered) | 83,844 | 6,847,597 |
Sika AG (Registered) | 85,115 | 20,368,837 |
Sonova Holding AG (Registered) | 27,031 | 6,406,708 |
Straumann Holding AG (Registered) | 64,310 | 7,600,424 |
Swatch Group AG (The) | 15,992 | 4,093,570 |
Swatch Group AG (The) (Registered) | 30,367 | 1,470,698 |
Swiss Life Holding AG (Registered) | 16,311 | 10,476,243 |
Swisscom AG (Registered) | 14,028 | 8,405,421 |
UBS Group AG (Registered) | 1,683,137 | 39,547,733 |
Zurich Insurance Group AG | 80,859 | 38,407,421 |
438,783,468 | ||
United Arab Emirates — 0.0% ^ | ||
NMC Health plc ‡ * | 23,176 | — |
United Kingdom — 18.0% | ||
3i Group plc | 537,690 | 12,677,434 |
abrdn plc | 1,065,386 | 2,033,927 |
Admiral Group plc | 144,068 | 4,280,657 |
Ashtead Group plc | 249,360 | 14,301,421 |
Associated British Foods plc | 187,134 | 4,616,234 |
AstraZeneca plc | 856,229 | 107,203,085 |
Auto Trader Group plc (a) | 508,546 | 3,846,771 |
Aviva plc | 1,512,802 | 7,327,364 |
B&M European Value Retail SA | 514,736 | 3,313,739 |
BAE Systems plc | 1,688,743 | 22,707,484 |
Barclays plc | 8,110,280 | 13,017,386 |
Barratt Developments plc | 538,408 | 2,715,299 |
Berkeley Group Holdings plc | 63,774 | 3,134,917 |
BP plc | 9,552,245 | 58,326,196 |
British American Tobacco plc | 1,235,179 | 36,897,820 |
British Land Co. plc (The), REIT | 518,492 | 1,879,680 |
BT Group plc | 3,138,954 | 4,311,131 |
Bunzl plc | 186,711 | 6,661,141 |
Burberry Group plc | 209,120 | 4,309,977 |
Centrica plc | 3,100,427 | 5,935,146 |
CNH Industrial NV | 537,984 | 5,961,926 |
Coca-Cola Europacific Partners plc | 114,102 | 6,676,108 |
Compass Group plc | 986,350 | 24,867,251 |
ConvaTec Group plc (a) | 892,769 | 2,215,807 |
Croda International plc | 78,749 | 4,197,020 |
DCC plc | 55,985 | 3,110,194 |
Dechra Pharmaceuticals plc | 62,912 | 2,915,909 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 83 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
United Kingdom — continued | ||
Diageo plc | 1,236,640 | 46,764,810 |
DS Smith plc | 760,970 | 2,639,402 |
easyJet plc * | 355,956 | 1,587,913 |
Entain plc | 352,890 | 4,006,113 |
Halma plc | 209,744 | 4,716,802 |
Hargreaves Lansdown plc | 193,909 | 1,670,032 |
Hiscox Ltd. | 195,852 | 2,232,893 |
Howden Joinery Group plc | 305,839 | 2,375,179 |
HSBC Holdings plc | 11,060,953 | 79,864,788 |
Imperial Brands plc | 505,620 | 10,771,825 |
Informa plc | 770,773 | 6,678,348 |
InterContinental Hotels Group plc | 96,852 | 6,863,181 |
Intermediate Capital Group plc | 162,612 | 2,588,946 |
Intertek Group plc | 89,166 | 4,152,785 |
ITV plc | 2,005,956 | 1,561,907 |
J Sainsbury plc | 980,827 | 3,068,833 |
JD Sports Fashion plc | 1,374,446 | 2,137,039 |
Johnson Matthey plc | 106,944 | 1,944,158 |
Kingfisher plc | 1,047,927 | 2,675,901 |
Land Securities Group plc, REIT | 415,065 | 2,877,109 |
Legal & General Group plc | 3,302,642 | 8,509,278 |
Lloyds Banking Group plc | 37,163,489 | 18,087,469 |
London Stock Exchange Group plc | 228,246 | 23,028,902 |
M&G plc | 1,311,912 | 3,168,053 |
Melrose Industries plc | 746,624 | 4,251,110 |
National Grid plc | 2,043,825 | 24,368,479 |
NatWest Group plc | 3,082,997 | 6,708,038 |
Next plc | 70,058 | 5,873,836 |
Ocado Group plc * | 402,234 | 2,282,726 |
Pearson plc | 395,835 | 4,582,082 |
Pepco Group NV * (a) | 88,951 | 360,529 |
Persimmon plc | 176,469 | 2,185,394 |
Phoenix Group Holdings plc | 525,484 | 2,902,719 |
Reckitt Benckiser Group plc | 406,898 | 27,224,309 |
RELX plc | 1,070,194 | 37,379,432 |
Rentokil Initial plc | 1,392,208 | 7,089,806 |
Rightmove plc | 456,235 | 2,630,940 |
Rolls-Royce Holdings plc * | 4,649,844 | 12,239,443 |
Sage Group plc (The) | 565,560 | 6,681,427 |
Schroders plc | 507,648 | 2,285,968 |
Segro plc, REIT | 676,592 | 5,881,038 |
Severn Trent plc | 153,824 | 4,965,801 |
Smith & Nephew plc | 484,875 | 5,426,301 |
Smiths Group plc | 192,720 | 3,780,326 |
INVESTMENTS | SHARES | VALUE($) |
United Kingdom — continued | ||
Spirax-Sarco Engineering plc | 40,766 | 4,069,003 |
SSE plc | 604,352 | 12,010,631 |
St. James's Place plc | 303,059 | 2,362,584 |
Standard Chartered plc | 1,275,436 | 9,779,200 |
Tate & Lyle plc | 221,886 | 1,700,404 |
Taylor Wimpey plc | 1,970,444 | 2,661,369 |
Tesco plc | 3,941,141 | 12,933,100 |
Unilever plc | 1,390,304 | 65,845,750 |
United Utilities Group plc | 376,715 | 4,872,269 |
Vodafone Group plc | 12,576,807 | 11,577,448 |
Weir Group plc (The) | 143,428 | 2,979,082 |
Whitbread plc | 108,024 | 4,380,174 |
Wise plc, Class A * | 260,427 | 2,116,686 |
WPP plc | 592,788 | 5,104,634 |
924,904,728 | ||
United States — 9.8% | ||
Experian plc | 509,819 | 15,467,306 |
Ferrovial SE | 275,175 | 8,281,677 |
GSK plc | 2,263,120 | 40,344,130 |
Haleon plc | 2,652,878 | 10,632,975 |
Holcim AG | 294,341 | 18,198,447 |
Nestle SA (Registered) | 1,475,059 | 159,068,564 |
QIAGEN NV * | 127,519 | 4,752,393 |
Roche Holding AG | 388,130 | 100,024,843 |
Roche Holding AG | 14,734 | 4,015,179 |
Sanofi SA | 614,759 | 55,823,942 |
Schneider Electric SE | 297,483 | 45,769,924 |
Stellantis NV | 1,222,247 | 22,834,441 |
Swiss Re AG | 159,624 | 17,440,970 |
Tenaris SA | 254,355 | 4,029,334 |
506,684,125 | ||
Total Common Stocks (Cost $5,908,663,965) | 5,083,660,312 | |
Short-Term Investments — 0.9% | ||
Investment of Cash Collateral from Securities Loaned — 0.9% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.53% (d) (e) | 38,615,115 | 38,622,839 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (d) (e) | 4,769,550 | 4,769,550 |
Total Investment of Cash Collateral from Securities Loaned (Cost $43,392,389) | 43,392,389 |
84 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Total Investments — 99.7% (Cost $5,952,056,354) | 5,127,052,701 | |
Other Assets Less Liabilities — 0.3% | 16,307,874 | |
NET ASSETS — 100.0% | 5,143,360,575 |
Percentages indicated are based on net assets. |
Abbreviations | |
CVA | Certificaten Van Aandelen (Dutch Certificate) |
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 October 31, 2023. The total value of securities on loan at October 31, 2023 is $41,286,855. | |
(c) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. | |
(d) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(e) | The rate shown is the current yield as of October 31, 2023. |
INDUSTRY October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Pharmaceuticals | 12.5 % |
Banks | 8.5 |
Oil, Gas & Consumable Fuels | 6.6 |
Insurance | 5.5 |
Textiles, Apparel & Luxury Goods | 4.5 |
Food Products | 4.3 |
Semiconductors & Semiconductor Equipment | 3.5 |
Chemicals | 3.2 |
Capital Markets | 2.8 |
Aerospace & Defense | 2.7 |
Personal Care Products | 2.7 |
Machinery | 2.6 |
Beverages | 2.6 |
Metals & Mining | 2.2 |
Electric Utilities | 2.2 |
Diversified Telecommunication Services | 2.1 |
Electrical Equipment | 2.1 |
Health Care Equipment & Supplies | 2.0 |
Automobiles | 2.0 |
Software | 1.9 |
Professional Services | 1.8 |
Hotels, Restaurants & Leisure | 1.7 |
Financial Services | 1.5 |
Multi-Utilities | 1.4 |
Industrial Conglomerates | 1.3 |
Construction & Engineering | 1.1 |
Consumer Staples Distribution & Retail | 1.0 |
Others (each less than 1.0%) | 12.9 |
Short-Term Investments | 0.8 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
EURO STOXX 50 Index | 880 | 12/15/2023 | EUR | 38,027,268 | (1,674,811 ) |
FTSE 100 Index | 220 | 12/15/2023 | GBP | 19,637,783 | (596,106 ) |
(2,270,917 ) |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 85 |
Abbreviations | |
EUR | Euro |
FTSE | Financial Times and the London Stock Exchange |
GBP | British Pound |
86 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 98.8% | ||
Australia — 7.6% | ||
Ampol Ltd. | 57,786 | 1,171,770 |
ANZ Group Holdings Ltd. | 728,739 | 11,491,470 |
APA Group | 305,364 | 1,600,700 |
Aristocrat Leisure Ltd. | 157,424 | 3,869,499 |
ASX Ltd. | 46,944 | 1,677,196 |
Atlas Arteria Ltd. | 274,408 | 927,670 |
Aurizon Holdings Ltd. | 446,344 | 972,188 |
Bendigo & Adelaide Bank Ltd. | 137,802 | 763,478 |
BHP Group Ltd. | 1,228,392 | 34,772,678 |
BlueScope Steel Ltd. | 109,789 | 1,316,091 |
Brambles Ltd. | 336,886 | 2,811,568 |
Cochlear Ltd. | 15,921 | 2,440,278 |
Coles Group Ltd. | 324,540 | 3,149,885 |
Commonwealth Bank of Australia | 406,446 | 25,002,893 |
Computershare Ltd. | 139,076 | 2,194,891 |
Dexus, REIT | 260,810 | 1,077,195 |
Endeavour Group Ltd. | 330,059 | 1,036,863 |
Flutter Entertainment plc * | 42,823 | 6,725,663 |
Fortescue Metals Group Ltd. | 410,633 | 5,841,595 |
Glencore plc | 2,724,090 | 14,429,044 |
Goodman Group, REIT | 415,690 | 5,500,372 |
GPT Group (The), REIT | 464,502 | 1,071,991 |
IDP Education Ltd. | 67,492 | 932,494 |
IGO Ltd. | 163,428 | 989,618 |
Incitec Pivot Ltd. | 470,962 | 822,151 |
Insurance Australia Group Ltd. | 591,797 | 2,134,930 |
LendLease Corp. Ltd. | 167,149 | 661,993 |
Lottery Corp. Ltd. (The) | 539,719 | 1,557,937 |
Macquarie Group Ltd. | 87,156 | 8,958,763 |
Medibank Pvt Ltd. | 667,808 | 1,457,343 |
Mineral Resources Ltd. | 41,972 | 1,546,972 |
Mirvac Group, REIT | 956,814 | 1,110,147 |
National Australia Bank Ltd. | 761,290 | 13,637,944 |
Northern Star Resources Ltd. | 279,272 | 2,045,049 |
Orica Ltd. | 110,451 | 1,032,046 |
Origin Energy Ltd. | 417,741 | 2,423,254 |
Pilbara Minerals Ltd. (a) | 683,422 | 1,605,357 |
Qantas Airways Ltd. * | 204,895 | 641,917 |
QBE Insurance Group Ltd. | 361,810 | 3,587,747 |
Ramsay Health Care Ltd. | 45,010 | 1,393,694 |
REA Group Ltd. | 12,493 | 1,146,916 |
Reece Ltd. | 50,928 | 567,833 |
Rio Tinto Ltd. | 90,015 | 6,723,949 |
Rio Tinto plc | 271,035 | 17,292,174 |
INVESTMENTS | SHARES | VALUE($) |
Australia — continued | ||
Santos Ltd. | 787,540 | 3,842,769 |
Scentre Group, REIT | 1,258,593 | 1,949,804 |
SEEK Ltd. | 86,380 | 1,139,584 |
Seven Group Holdings Ltd. | 37,333 | 659,735 |
Sonic Healthcare Ltd. | 114,294 | 2,092,845 |
South32 Ltd. | 1,102,199 | 2,358,027 |
Stockland, REIT | 578,857 | 1,306,447 |
Suncorp Group Ltd. | 307,119 | 2,614,089 |
Telstra Group Ltd. | 980,626 | 2,377,901 |
TPG Telecom Ltd. | 102,170 | 337,026 |
Transurban Group | 746,990 | 5,623,709 |
Treasury Wine Estates Ltd. | 175,039 | 1,348,527 |
Vicinity Ltd., REIT | 938,284 | 1,016,285 |
Washington H Soul Pattinson & Co. Ltd. | 59,522 | 1,268,049 |
Wesfarmers Ltd. | 275,103 | 8,851,117 |
Westpac Banking Corp. | 850,901 | 11,173,847 |
WiseTech Global Ltd. | 44,257 | 1,647,745 |
Woodside Energy Group Ltd. | 460,419 | 10,027,835 |
Woolworths Group Ltd. | 295,518 | 6,615,103 |
Worley Ltd. | 89,067 | 931,060 |
269,296,710 | ||
Austria — 0.3% | ||
ANDRITZ AG | 17,400 | 800,907 |
BAWAG Group AG (b) | 20,006 | 891,075 |
Erste Group Bank AG | 86,503 | 3,097,608 |
EVN AG | 9,040 | 245,348 |
Mondi plc | 117,838 | 1,906,091 |
OMV AG | 34,126 | 1,496,705 |
Raiffeisen Bank International AG * | 32,216 | 466,737 |
Strabag SE | 2,984 | 117,978 |
Telekom Austria AG | 33,329 | 232,752 |
Verbund AG | 20,226 | 1,757,372 |
Vienna Insurance Group AG Wiener Versicherung Gruppe | 8,555 | 229,469 |
voestalpine AG | 25,543 | 637,835 |
11,879,877 | ||
Belgium — 0.9% | ||
Ackermans & van Haaren NV | 5,440 | 807,584 |
Ageas SA | 41,476 | 1,593,211 |
Anheuser-Busch InBev SA | 252,746 | 14,380,752 |
Azelis Group NV | 21,885 | 373,257 |
D'ieteren Group | 5,309 | 788,603 |
Elia Group SA/NV | 8,200 | 778,639 |
Etablissements Franz Colruyt NV | 10,727 | 443,942 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 87 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Belgium — continued | ||
Groupe Bruxelles Lambert NV | 23,476 | 1,717,049 |
KBC Group NV | 81,937 | 4,509,391 |
Sofina SA | 3,776 | 717,343 |
Solvay SA | 17,714 | 1,872,647 |
UCB SA | 29,243 | 2,138,833 |
Umicore SA | 48,396 | 1,151,479 |
Warehouses De Pauw CVA, REIT | 39,174 | 969,264 |
32,241,994 | ||
Brazil — 0.0% ^ | ||
Yara International ASA | 39,531 | 1,293,531 |
Chile — 0.1% | ||
Antofagasta plc | 83,670 | 1,368,133 |
China — 0.6% | ||
Budweiser Brewing Co. APAC Ltd. (b) | 417,500 | 793,395 |
ESR Group Ltd. (b) | 574,800 | 738,558 |
Prosus NV * | 367,595 | 10,280,009 |
Wharf Holdings Ltd. (The) | 231,000 | 586,150 |
Wilmar International Ltd. | 729,900 | 1,897,584 |
Wuxi Biologics Cayman, Inc. * (b) | 866,000 | 5,384,564 |
19,680,260 | ||
Denmark — 3.2% | ||
AP Moller - Maersk A/S, Class A | 638 | 1,041,702 |
AP Moller - Maersk A/S, Class B | 1,139 | 1,897,837 |
Carlsberg A/S, Class B | 21,868 | 2,606,080 |
Chr Hansen Holding A/S | 24,940 | 1,701,899 |
Coloplast A/S, Class B | 28,296 | 2,950,830 |
Danske Bank A/S | 165,164 | 3,874,539 |
Demant A/S * | 22,808 | 870,343 |
DSV A/S | 43,544 | 6,507,256 |
Genmab A/S * | 16,016 | 4,527,449 |
Novo Nordisk A/S, Class B | 782,992 | 75,540,121 |
Novozymes A/S, Class B | 50,699 | 2,278,564 |
Orsted A/S (b) | 45,872 | 2,216,495 |
Pandora A/S | 20,285 | 2,300,736 |
Tryg A/S | 84,667 | 1,653,340 |
Vestas Wind Systems A/S * | 244,880 | 5,307,721 |
115,274,912 | ||
Finland — 1.2% | ||
Elisa OYJ | 36,517 | 1,548,637 |
Fortum OYJ | 106,611 | 1,265,838 |
Huhtamaki OYJ | 23,256 | 799,452 |
Kesko OYJ, Class A | 22,461 | 387,182 |
INVESTMENTS | SHARES | VALUE($) |
Finland — continued | ||
Kesko OYJ, Class B | 66,232 | 1,120,082 |
Kone OYJ, Class B | 97,803 | 4,235,199 |
Metso OYJ | 170,862 | 1,505,367 |
Neste OYJ | 104,453 | 3,510,450 |
Nokia OYJ | 1,283,810 | 4,275,964 |
Nordea Bank Abp | 867,951 | 9,141,449 |
Orion OYJ, Class A | 7,073 | 280,648 |
Orion OYJ, Class B | 26,109 | 1,038,760 |
Sampo OYJ, Class A | 113,213 | 4,452,532 |
Stora Enso OYJ, Class A | 12,226 | 149,415 |
Stora Enso OYJ, Class R | 148,497 | 1,784,696 |
UPM-Kymmene OYJ | 129,425 | 4,358,506 |
Wartsila OYJ Abp | 117,657 | 1,404,059 |
41,258,236 | ||
France — 9.7% | ||
Adevinta ASA * | 76,318 | 670,801 |
Aeroports de Paris SA | 9,598 | 1,077,843 |
Air Liquide SA | 127,004 | 21,762,422 |
Airbus SE | 149,493 | 20,043,456 |
Alstom SA | 67,592 | 915,362 |
Amundi SA (b) | 14,392 | 751,829 |
AXA SA | 420,990 | 12,474,113 |
BioMerieux | 11,478 | 1,102,030 |
BNP Paribas SA | 263,391 | 15,146,043 |
Bollore SE | 193,214 | 1,054,764 |
Bouygues SA | 47,166 | 1,659,254 |
Bureau Veritas SA | 68,952 | 1,570,573 |
Capgemini SE | 37,881 | 6,694,663 |
Carrefour SA | 130,940 | 2,295,570 |
Cie de Saint-Gobain SA | 124,627 | 6,783,964 |
Cie Generale des Etablissements Michelin SCA | 173,161 | 5,144,346 |
Credit Agricole SA | 271,483 | 3,278,127 |
Danone SA | 152,846 | 9,092,878 |
Dassault Aviation SA | 5,290 | 1,051,595 |
Dassault Systemes SE | 162,460 | 6,692,275 |
Edenred SE | 60,520 | 3,221,569 |
Eiffage SA | 18,299 | 1,660,645 |
Engie SA | 425,175 | 6,762,361 |
EssilorLuxottica SA | 69,293 | 12,547,821 |
Gecina SA, REIT | 12,448 | 1,222,280 |
Getlink SE | 78,687 | 1,270,692 |
Hermes International SCA | 8,191 | 15,282,979 |
Ipsen SA | 9,347 | 1,104,745 |
Kering SA | 16,849 | 6,852,517 |
88 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
France — continued | ||
Legrand SA | 64,699 | 5,596,876 |
L'Oreal SA | 55,883 | 23,489,342 |
LVMH Moet Hennessy Louis Vuitton SE | 63,303 | 45,320,553 |
Orange SA | 445,069 | 5,234,923 |
Pernod Ricard SA | 48,350 | 8,585,820 |
Publicis Groupe SA | 56,735 | 4,319,992 |
Safran SA | 83,921 | 13,110,101 |
Sartorius Stedim Biotech | 5,810 | 1,087,765 |
Societe Generale SA | 171,160 | 3,846,268 |
Sodexo SA | 19,667 | 2,081,331 |
Teleperformance SE | 14,436 | 1,660,742 |
Thales SA | 22,938 | 3,385,135 |
TotalEnergies SE | 563,389 | 37,666,770 |
Veolia Environnement SA | 147,451 | 4,040,216 |
Vinci SA | 123,147 | 13,616,906 |
Vivendi SE | 149,843 | 1,343,718 |
Worldline SA * (b) | 60,360 | 767,533 |
344,341,508 | ||
Germany — 7.5% | ||
adidas AG | 40,157 | 7,140,228 |
Allianz SE (Registered) | 97,798 | 22,908,453 |
BASF SE | 216,424 | 10,000,338 |
Bayer AG (Registered) | 238,225 | 10,293,360 |
Bayerische Motoren Werke AG | 70,296 | 6,537,835 |
Bayerische Motoren Werke AG (Preference) | 14,285 | 1,214,648 |
Beiersdorf AG | 23,829 | 3,133,991 |
Brenntag SE | 37,464 | 2,785,884 |
Carl Zeiss Meditec AG | 8,891 | 772,028 |
Commerzbank AG | 255,092 | 2,751,308 |
Continental AG | 26,189 | 1,709,853 |
Covestro AG * (b) | 46,849 | 2,373,472 |
Daimler Truck Holding AG | 125,719 | 3,950,119 |
Deutsche Bank AG (Registered) | 494,729 | 5,444,270 |
Deutsche Boerse AG | 46,070 | 7,582,959 |
Deutsche Lufthansa AG (Registered) * | 144,946 | 1,016,357 |
Deutsche Post AG | 228,346 | 8,915,426 |
Deutsche Telekom AG (Registered) | 846,404 | 18,370,069 |
Deutsche Wohnen SE | 12,427 | 267,409 |
E.ON SE | 544,410 | 6,477,458 |
Evonik Industries AG | 49,720 | 915,091 |
Fresenius SE & Co. KGaA | 99,700 | 2,564,612 |
GEA Group AG | 38,078 | 1,302,284 |
Hannover Rueck SE | 14,620 | 3,228,292 |
Heidelberg Materials AG | 33,243 | 2,413,220 |
INVESTMENTS | SHARES | VALUE($) |
Germany — continued | ||
Henkel AG & Co. KGaA | 23,940 | 1,513,017 |
Henkel AG & Co. KGaA (Preference) | 39,312 | 2,835,774 |
Infineon Technologies AG | 316,668 | 9,249,942 |
Mercedes-Benz Group AG | 194,565 | 11,447,090 |
Merck KGaA | 31,340 | 4,733,544 |
MTU Aero Engines AG | 13,052 | 2,453,211 |
Muenchener Rueckversicherungs- Gesellschaft AG (Registered) | 33,093 | 13,280,482 |
Porsche Automobil Holding SE (Preference) | 37,130 | 1,661,869 |
Puma SE | 24,492 | 1,387,915 |
RWE AG | 164,138 | 6,280,811 |
SAP SE | 247,251 | 33,164,354 |
Sartorius AG (Preference) | 6,535 | 1,637,932 |
Siemens AG (Registered) | 182,351 | 24,197,771 |
Siemens Energy AG * | 124,044 | 1,102,867 |
Siemens Healthineers AG (b) | 68,382 | 3,364,174 |
Symrise AG | 32,197 | 3,290,188 |
Talanx AG | 12,899 | 812,886 |
Telefonica Deutschland Holding AG | 209,175 | 355,614 |
Volkswagen AG (Preference) | 44,501 | 4,719,363 |
Vonovia SE | 197,542 | 4,547,829 |
Zalando SE * (b) | 53,057 | 1,241,029 |
267,346,626 | ||
Hong Kong — 2.1% | ||
AIA Group Ltd. | 2,795,600 | 24,276,454 |
CK Asset Holdings Ltd. | 462,500 | 2,311,725 |
CK Infrastructure Holdings Ltd. | 146,500 | 679,033 |
CLP Holdings Ltd. | 404,000 | 2,956,788 |
DFI Retail Group Holdings Ltd. | 71,100 | 151,658 |
Hang Lung Properties Ltd. | 425,000 | 558,644 |
Hang Seng Bank Ltd. | 176,200 | 2,014,510 |
Henderson Land Development Co. Ltd. | 316,000 | 826,802 |
HK Electric Investments & HK Electric Investments Ltd. (b) | 544,500 | 302,053 |
HKT Trust & HKT Ltd. | 880,000 | 911,491 |
Hong Kong & China Gas Co. Ltd. | 2,623,100 | 1,825,963 |
Hong Kong Exchanges & Clearing Ltd. | 288,900 | 10,106,489 |
Jardine Matheson Holdings Ltd. | 49,600 | 2,009,848 |
Link, REIT | 621,400 | 2,851,693 |
MTR Corp. Ltd. | 376,500 | 1,407,427 |
New World Development Co. Ltd. | 336,000 | 616,667 |
Power Assets Holdings Ltd. | 331,000 | 1,582,454 |
Prudential plc | 667,616 | 6,980,853 |
Sino Land Co. Ltd. | 812,000 | 810,643 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 89 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Hong Kong — continued | ||
Sun Hung Kai Properties Ltd. | 365,000 | 3,748,077 |
Swire Pacific Ltd., Class A | 102,500 | 654,754 |
Swire Pacific Ltd., Class B | 200,000 | 205,340 |
Swire Properties Ltd. | 254,400 | 492,571 |
Techtronic Industries Co. Ltd. | 320,500 | 2,926,013 |
WH Group Ltd. (b) | 1,898,424 | 1,133,802 |
Wharf Real Estate Investment Co. Ltd. | 375,000 | 1,311,765 |
73,653,517 | ||
Ireland — 0.2% | ||
Kerry Group plc, Class A | 37,791 | 2,919,121 |
Kingspan Group plc | 37,499 | 2,523,639 |
Smurfit Kappa Group plc | 63,084 | 2,056,282 |
7,499,042 | ||
Israel — 0.4% | ||
Azrieli Group Ltd. | 8,706 | 374,856 |
Bank Hapoalim BM | 304,811 | 2,180,298 |
Bank Leumi Le-Israel BM | 371,747 | 2,394,394 |
Bezeq The Israeli Telecommunication Corp. Ltd. | 489,017 | 601,735 |
Elbit Systems Ltd. | 6,022 | 1,120,100 |
ICL Group Ltd. | 175,089 | 851,611 |
Israel Discount Bank Ltd., Class A | 299,959 | 1,318,420 |
Mizrahi Tefahot Bank Ltd. | 36,202 | 1,120,510 |
Nice Ltd. * | 15,355 | 2,353,857 |
Teva Pharmaceutical Industries Ltd. * | 271,796 | 2,333,124 |
14,648,905 | ||
Italy — 2.4% | ||
A2A SpA | 379,843 | 712,962 |
Amplifon SpA | 22,508 | 636,154 |
Assicurazioni Generali SpA | 268,452 | 5,332,438 |
Banca Mediolanum SpA | 54,106 | 441,806 |
Banco BPM SpA | 367,411 | 1,879,799 |
Buzzi SpA | 22,557 | 597,291 |
Coca-Cola HBC AG | 49,709 | 1,290,529 |
Davide Campari-Milano NV | 129,569 | 1,432,225 |
DiaSorin SpA | 6,290 | 563,725 |
Enel SpA | 1,873,614 | 11,892,915 |
Eni SpA | 581,217 | 9,501,539 |
Ferrari NV | 30,567 | 9,252,753 |
FinecoBank Banca Fineco SpA | 148,068 | 1,746,706 |
Hera SpA | 195,042 | 548,671 |
Infrastrutture Wireless Italiane SpA (b) | 86,149 | 943,317 |
Intesa Sanpaolo SpA | 3,901,328 | 10,166,045 |
INVESTMENTS | SHARES | VALUE($) |
Italy — continued | ||
Leonardo SpA | 98,135 | 1,483,064 |
Mediobanca Banca di Credito Finanziario SpA (a) | 154,442 | 1,844,879 |
Moncler SpA | 49,943 | 2,593,898 |
Nexi SpA * (b) | 206,848 | 1,201,954 |
Pirelli & C SpA (b) | 82,447 | 367,325 |
Poste Italiane SpA (b) | 110,849 | 1,097,432 |
Prysmian SpA | 67,033 | 2,510,185 |
Recordati Industria Chimica e Farmaceutica SpA | 24,341 | 1,125,878 |
Snam SpA | 497,125 | 2,279,589 |
Telecom Italia SpA * | 3,893,659 | 1,009,416 |
Terna - Rete Elettrica Nazionale | 341,175 | 2,612,390 |
UniCredit SpA | 437,670 | 10,972,219 |
UnipolSai Assicurazioni SpA | 101,412 | 240,362 |
86,277,466 | ||
Japan — 24.9% | ||
ABC-Mart, Inc. | 22,600 | 350,052 |
Acom Co. Ltd. | 117,600 | 276,160 |
Advance Residence Investment Corp., REIT | 333 | 724,010 |
Advantest Corp. | 185,400 | 4,775,651 |
Aeon Co. Ltd. | 211,400 | 4,447,778 |
AGC, Inc. | 55,300 | 1,881,256 |
Aisin Corp. | 44,200 | 1,539,702 |
Ajinomoto Co., Inc. | 128,600 | 4,696,817 |
ANA Holdings, Inc. * | 38,700 | 759,753 |
Asahi Group Holdings Ltd. | 122,700 | 4,438,110 |
Asahi Intecc Co. Ltd. | 57,400 | 964,471 |
Asahi Kasei Corp. | 338,200 | 2,079,181 |
Asics Corp. | 45,900 | 1,453,974 |
Astellas Pharma, Inc. | 438,600 | 5,548,236 |
Bandai Namco Holdings, Inc. | 161,700 | 3,350,184 |
Bridgestone Corp. | 141,900 | 5,370,235 |
Brother Industries Ltd. | 62,400 | 973,456 |
Canon, Inc. | 245,800 | 5,810,883 |
Capcom Co. Ltd. | 40,700 | 1,310,106 |
Central Japan Railway Co. | 249,400 | 5,613,598 |
Chiba Bank Ltd. (The) | 175,500 | 1,307,220 |
Chubu Electric Power Co., Inc. | 183,700 | 2,219,860 |
Chugai Pharmaceutical Co. Ltd. | 154,600 | 4,584,905 |
Concordia Financial Group Ltd. | 285,500 | 1,326,547 |
Cosmos Pharmaceutical Corp. | 5,700 | 593,185 |
CyberAgent, Inc. | 99,800 | 523,895 |
Dai Nippon Printing Co. Ltd. | 63,200 | 1,648,715 |
90 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Japan — continued | ||
Daifuku Co. Ltd. | 92,300 | 1,525,064 |
Dai-ichi Life Holdings, Inc. | 240,100 | 5,072,120 |
Daiichi Sankyo Co. Ltd. | 472,000 | 12,170,140 |
Daikin Industries Ltd. | 71,100 | 10,251,122 |
Daito Trust Construction Co. Ltd. | 15,900 | 1,705,536 |
Daiwa House Industry Co. Ltd. | 161,700 | 4,447,667 |
Daiwa House REIT Investment Corp., REIT | 516 | 913,190 |
Daiwa Securities Group, Inc. | 353,900 | 2,040,754 |
Denso Corp. | 481,200 | 7,105,560 |
Dentsu Group, Inc. | 55,900 | 1,623,671 |
Disco Corp. | 21,700 | 3,832,199 |
East Japan Railway Co. | 91,800 | 4,767,847 |
Eisai Co. Ltd. | 71,900 | 3,809,144 |
ENEOS Holdings, Inc. | 735,500 | 2,725,334 |
FANUC Corp. | 228,400 | 5,668,070 |
Fast Retailing Co. Ltd. | 48,500 | 10,737,726 |
Fuji Electric Co. Ltd. | 36,200 | 1,378,302 |
FUJIFILM Holdings Corp. | 100,600 | 5,502,599 |
Fujitsu Ltd. | 42,100 | 5,453,952 |
Fukuoka Financial Group, Inc. | 46,200 | 1,221,239 |
GLP J-REIT, REIT | 1,193 | 1,068,520 |
GMO Payment Gateway, Inc. | 11,000 | 439,332 |
Hakuhodo DY Holdings, Inc. | 72,400 | 587,540 |
Hamamatsu Photonics KK | 35,600 | 1,322,292 |
Hankyu Hanshin Holdings, Inc. | 61,800 | 1,944,451 |
Haseko Corp. | 50,900 | 626,419 |
Hikari Tsushin, Inc. | 5,600 | 807,928 |
Hirose Electric Co. Ltd. | 7,300 | 827,084 |
Hitachi Construction Machinery Co. Ltd. | 25,400 | 656,228 |
Hitachi Ltd. | 227,300 | 14,407,780 |
Honda Motor Co. Ltd. | 1,211,900 | 12,420,488 |
Hoshizaki Corp. | 27,800 | 897,791 |
Hoya Corp. | 85,700 | 8,250,221 |
Hulic Co. Ltd. | 145,200 | 1,331,213 |
Ibiden Co. Ltd. | 34,200 | 1,458,167 |
Idemitsu Kosan Co. Ltd. | 54,000 | 1,226,075 |
Iida Group Holdings Co. Ltd. | 40,700 | 631,957 |
Inpex Corp. | 248,800 | 3,610,306 |
Isuzu Motors Ltd. | 150,700 | 1,680,403 |
ITOCHU Corp. | 353,600 | 12,737,037 |
Japan Airlines Co. Ltd. | 35,000 | 643,433 |
Japan Airport Terminal Co. Ltd. | 22,700 | 998,324 |
Japan Exchange Group, Inc. | 128,300 | 2,537,107 |
Japan Metropolitan Fund Invest, REIT | 1,696 | 1,094,508 |
INVESTMENTS | SHARES | VALUE($) |
Japan — continued | ||
Japan Post Bank Co. Ltd. | 342,200 | 3,171,922 |
Japan Post Holdings Co. Ltd. | 486,900 | 4,309,651 |
Japan Post Insurance Co. Ltd. | 44,500 | 856,896 |
Japan Real Estate Investment Corp., REIT | 345 | 1,281,441 |
Japan Tobacco, Inc. | 266,900 | 6,213,131 |
JFE Holdings, Inc. | 141,500 | 1,971,501 |
JSR Corp. | 50,400 | 1,349,004 |
Kajima Corp. | 114,000 | 1,884,123 |
Kansai Electric Power Co., Inc. (The) | 200,400 | 2,565,890 |
Kansai Paint Co. Ltd. | 58,000 | 848,813 |
Kao Corp. | 112,900 | 4,119,033 |
Kawasaki Heavy Industries Ltd. | 40,700 | 898,324 |
KDDI Corp. | 352,700 | 10,550,930 |
Keio Corp. | 31,200 | 925,843 |
Keisei Electric Railway Co. Ltd. | 41,700 | 1,570,824 |
Keyence Corp. | 48,200 | 18,659,122 |
Kikkoman Corp. | 46,900 | 2,668,365 |
Kintetsu Group Holdings Co. Ltd. | 46,100 | 1,297,105 |
Kirin Holdings Co. Ltd. | 197,400 | 2,774,125 |
Kobayashi Pharmaceutical Co. Ltd. | 13,700 | 565,581 |
Kobe Bussan Co. Ltd. (a) | 35,200 | 871,131 |
Koei Tecmo Holdings Co. Ltd. | 29,500 | 385,201 |
Koito Manufacturing Co. Ltd. | 62,000 | 928,929 |
Komatsu Ltd. | 236,200 | 5,427,025 |
Konami Group Corp. | 25,200 | 1,305,413 |
Kose Corp. | 8,600 | 569,758 |
Kubota Corp. | 257,600 | 3,464,526 |
Kurita Water Industries Ltd. | 26,200 | 796,046 |
Kyocera Corp. | 84,100 | 4,145,408 |
Kyoto Financial Group, Inc. | 18,400 | 1,043,166 |
Kyowa Kirin Co. Ltd. | 61,300 | 961,447 |
Kyushu Railway Co. | 38,100 | 779,004 |
Lasertec Corp. | 19,200 | 3,171,460 |
Lawson, Inc. | 12,100 | 582,907 |
Lion Corp. | 70,000 | 671,768 |
Lixil Corp. | 69,700 | 764,265 |
LY Corp. | 647,700 | 1,651,302 |
M3, Inc. | 103,700 | 1,597,104 |
Makita Corp. | 67,900 | 1,755,001 |
Marubeni Corp. | 412,000 | 6,024,172 |
Marui Group Co. Ltd. | 44,900 | 710,010 |
MatsukiyoCocokara & Co. | 90,600 | 1,589,287 |
Mazda Motor Corp. | 145,500 | 1,406,401 |
McDonald's Holdings Co. Japan Ltd. | 20,800 | 809,282 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 91 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Japan — continued | ||
Medipal Holdings Corp. | 50,700 | 852,418 |
MEIJI Holdings Co. Ltd. | 66,700 | 1,641,756 |
MINEBEA MITSUMI, Inc. | 103,600 | 1,624,376 |
MISUMI Group, Inc. | 69,100 | 1,046,082 |
Mitsubishi Chemical Group Corp. | 347,100 | 1,964,102 |
Mitsubishi Corp. | 348,600 | 16,250,184 |
Mitsubishi Electric Corp. | 520,800 | 5,971,759 |
Mitsubishi Estate Co. Ltd. | 321,100 | 4,110,183 |
Mitsubishi Gas Chemical Co., Inc. | 49,400 | 667,684 |
Mitsubishi HC Capital, Inc. | 234,900 | 1,548,515 |
Mitsubishi Heavy Industries Ltd. | 81,700 | 4,207,933 |
Mitsubishi Motors Corp. | 165,000 | 538,984 |
Mitsubishi UFJ Financial Group, Inc. | 3,076,500 | 25,809,211 |
Mitsui & Co. Ltd. | 374,800 | 13,621,797 |
Mitsui Chemicals, Inc. | 46,100 | 1,161,927 |
Mitsui Fudosan Co. Ltd. | 227,000 | 4,920,194 |
Mitsui OSK Lines Ltd. | 87,600 | 2,261,597 |
Mizuho Financial Group, Inc. | 615,600 | 10,451,896 |
MonotaRO Co. Ltd. | 59,800 | 477,921 |
MS&AD Insurance Group Holdings, Inc. | 107,900 | 3,953,514 |
Murata Manufacturing Co. Ltd. | 457,400 | 7,834,978 |
Nagoya Railroad Co. Ltd. | 47,600 | 666,343 |
NEC Corp. | 66,200 | 3,187,572 |
Nexon Co. Ltd. | 109,700 | 2,012,913 |
NGK Insulators Ltd. | 63,700 | 778,303 |
NIDEC Corp. | 127,400 | 4,673,165 |
Nikon Corp. | 79,200 | 751,958 |
Nintendo Co. Ltd. | 283,400 | 11,708,516 |
Nippon Building Fund, Inc., REIT | 412 | 1,655,389 |
Nippon Express Holdings, Inc. | 20,400 | 1,048,466 |
Nippon Paint Holdings Co. Ltd. | 258,500 | 1,737,924 |
Nippon Prologis REIT, Inc., REIT | 593 | 1,055,170 |
Nippon Sanso Holdings Corp. | 51,300 | 1,293,710 |
Nippon Shinyaku Co. Ltd. | 14,900 | 604,285 |
Nippon Steel Corp. | 230,200 | 4,965,152 |
Nippon Telegraph & Telephone Corp. | 7,245,800 | 8,526,681 |
Nippon Yusen KK | 123,500 | 3,021,706 |
Nissan Chemical Corp. | 33,900 | 1,382,618 |
Nissan Motor Co. Ltd. | 573,000 | 2,204,895 |
Nisshin Seifun Group, Inc. | 63,200 | 953,296 |
Nissin Foods Holdings Co. Ltd. | 20,400 | 1,774,977 |
Niterra Co. Ltd. | 41,500 | 928,886 |
Nitori Holdings Co. Ltd. | 21,300 | 2,306,680 |
Nitto Denko Corp. | 36,300 | 2,348,820 |
INVESTMENTS | SHARES | VALUE($) |
Japan — continued | ||
Nomura Holdings, Inc. | 715,600 | 2,764,655 |
Nomura Real Estate Holdings, Inc. | 27,600 | 644,628 |
Nomura Real Estate Master Fund, Inc., REIT | 1,142 | 1,260,150 |
Nomura Research Institute Ltd. | 112,300 | 2,947,870 |
NTT Data Group Corp. | 142,800 | 1,760,711 |
Obayashi Corp. | 175,000 | 1,499,017 |
Obic Co. Ltd. | 16,000 | 2,365,062 |
Odakyu Electric Railway Co. Ltd. | 89,100 | 1,268,457 |
Oji Holdings Corp. | 246,000 | 1,052,113 |
Olympus Corp. | 307,200 | 4,102,764 |
Omron Corp. | 49,800 | 1,784,197 |
Ono Pharmaceutical Co. Ltd. | 117,800 | 2,034,346 |
Open House Group Co. Ltd. | 16,900 | 557,030 |
Oracle Corp. | 8,000 | 567,518 |
Oriental Land Co. Ltd. | 282,200 | 9,127,863 |
ORIX Corp. | 284,400 | 5,172,198 |
Orix JREIT, Inc., REIT | 664 | 763,110 |
Osaka Gas Co. Ltd. | 101,100 | 1,906,522 |
Otsuka Corp. | 28,200 | 1,130,668 |
Otsuka Holdings Co. Ltd. | 135,300 | 4,552,299 |
Pan Pacific International Holdings Corp. | 129,400 | 2,505,943 |
Panasonic Holdings Corp. | 595,200 | 5,221,982 |
Persol Holdings Co. Ltd. | 446,600 | 669,639 |
Rakuten Group, Inc. | 357,700 | 1,323,104 |
Recruit Holdings Co. Ltd. | 411,400 | 11,795,952 |
Renesas Electronics Corp. * | 346,700 | 4,554,119 |
Resona Holdings, Inc. | 572,700 | 3,060,121 |
Ricoh Co. Ltd. | 147,700 | 1,197,124 |
Rinnai Corp. | 29,300 | 538,225 |
Rohm Co. Ltd. | 85,600 | 1,371,481 |
Santen Pharmaceutical Co. Ltd. | 91,300 | 791,895 |
SBI Holdings, Inc. | 58,900 | 1,267,230 |
SCSK Corp. | 37,100 | 633,307 |
Secom Co. Ltd. | 50,700 | 3,521,361 |
Sega Sammy Holdings, Inc. | 38,300 | 598,996 |
Seibu Holdings, Inc. | 65,500 | 639,573 |
Seiko Epson Corp. | 79,300 | 1,100,936 |
Sekisui Chemical Co. Ltd. | 103,200 | 1,413,518 |
Sekisui House Ltd. | 160,900 | 3,150,865 |
Seven & i Holdings Co. Ltd. | 193,300 | 7,082,263 |
SG Holdings Co. Ltd. | 117,900 | 1,671,187 |
Sharp Corp. * | 67,800 | 423,900 |
Shimadzu Corp. | 66,800 | 1,579,572 |
Shimano, Inc. | 20,100 | 2,892,513 |
92 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Japan — continued | ||
Shimizu Corp. | 153,100 | 1,089,535 |
Shin-Etsu Chemical Co. Ltd. | 490,900 | 14,679,568 |
Shionogi & Co. Ltd. | 67,900 | 3,161,738 |
Shiseido Co. Ltd. | 97,100 | 3,079,572 |
SMC Corp. | 14,700 | 6,787,918 |
SoftBank Corp. | 685,000 | 7,745,205 |
SoftBank Group Corp. | 253,000 | 10,361,380 |
Sojitz Corp. | 52,780 | 1,095,997 |
Sompo Holdings, Inc. | 84,200 | 3,647,541 |
Sony Group Corp. | 305,900 | 25,432,185 |
Square Enix Holdings Co. Ltd. | 21,900 | 727,557 |
Stanley Electric Co. Ltd. | 35,900 | 574,206 |
Subaru Corp. | 149,100 | 2,580,965 |
SUMCO Corp. | 84,800 | 1,095,799 |
Sumitomo Chemical Co. Ltd. | 401,500 | 1,020,518 |
Sumitomo Corp. | 296,400 | 5,826,535 |
Sumitomo Electric Industries Ltd. | 192,300 | 2,018,810 |
Sumitomo Metal Mining Co. Ltd. | 66,300 | 1,862,497 |
Sumitomo Mitsui Financial Group, Inc. | 324,300 | 15,633,848 |
Sumitomo Mitsui Trust Holdings, Inc. | 88,100 | 3,303,468 |
Sumitomo Realty & Development Co. Ltd. | 115,300 | 2,893,331 |
Suntory Beverage & Food Ltd. | 30,700 | 923,857 |
Suzuki Motor Corp. | 118,900 | 4,614,748 |
Sysmex Corp. | 38,600 | 1,849,048 |
T&D Holdings, Inc. | 132,900 | 2,370,833 |
Taisei Corp. | 45,700 | 1,549,811 |
Taisho Pharmaceutical Holdings Co. Ltd. | 13,800 | 546,453 |
Takeda Pharmaceutical Co. Ltd. | 383,700 | 10,415,440 |
TDK Corp. | 94,400 | 3,531,996 |
Terumo Corp. | 181,200 | 4,957,304 |
TIS, Inc. | 51,600 | 1,105,006 |
Tobu Railway Co. Ltd. | 50,700 | 1,220,321 |
Toho Co. Ltd. | 30,600 | 1,045,391 |
Tokio Marine Holdings, Inc. | 485,700 | 10,866,195 |
Tokyo Century Corp. | 11,300 | 435,374 |
Tokyo Electric Power Co. Holdings, Inc. * | 194,600 | 823,496 |
Tokyo Electron Ltd. | 114,300 | 15,103,338 |
Tokyo Gas Co. Ltd. | 98,200 | 2,205,293 |
Tokyu Corp. | 151,400 | 1,709,160 |
Tokyu Fudosan Holdings Corp. | 146,600 | 854,139 |
TOPPAN Holdings, Inc. | 79,600 | 1,835,885 |
Toray Industries, Inc. | 395,500 | 1,913,365 |
Toshiba Corp. * | 22,100 | 671,855 |
Tosoh Corp. | 78,700 | 963,621 |
INVESTMENTS | SHARES | VALUE($) |
Japan — continued | ||
TOTO Ltd. | 37,800 | 911,419 |
Toyo Suisan Kaisha Ltd. | 24,800 | 1,144,048 |
Toyota Industries Corp. | 45,700 | 3,387,043 |
Toyota Motor Corp. | 3,006,600 | 52,596,707 |
Toyota Tsusho Corp. | 57,700 | 3,071,734 |
Trend Micro, Inc. | 34,200 | 1,288,814 |
Unicharm Corp. | 106,900 | 3,632,342 |
United Urban Investment Corp., REIT | 751 | 757,135 |
USS Co. Ltd. | 53,400 | 933,373 |
Welcia Holdings Co. Ltd. | 25,300 | 419,368 |
West Japan Railway Co. | 59,300 | 2,260,193 |
Yakult Honsha Co. Ltd. | 73,800 | 1,739,093 |
Yamaha Corp. | 41,300 | 1,103,120 |
Yamaha Motor Co. Ltd. | 84,800 | 2,072,245 |
Yamato Holdings Co. Ltd. | 80,900 | 1,347,472 |
Yaskawa Electric Corp. | 64,700 | 2,117,834 |
Yokogawa Electric Corp. | 56,800 | 1,031,217 |
ZOZO, Inc. | 29,500 | 560,935 |
885,890,031 | ||
Jordan — 0.0% ^ | ||
Hikma Pharmaceuticals plc | 41,389 | 958,964 |
Luxembourg — 0.1% | ||
ArcelorMittal SA | 111,668 | 2,470,907 |
Eurofins Scientific SE | 31,327 | 1,589,400 |
4,060,307 | ||
Macau — 0.1% | ||
Galaxy Entertainment Group Ltd. | 486,000 | 2,732,033 |
Sands China Ltd. * | 588,400 | 1,584,002 |
4,316,035 | ||
Mexico — 0.0% ^ | ||
Fresnillo plc | 44,030 | 296,348 |
Netherlands — 5.2% | ||
Adyen NV * (b) | 7,519 | 5,071,460 |
Aegon Ltd. | 329,760 | 1,603,711 |
Akzo Nobel NV | 41,365 | 2,774,959 |
Argenx SE * | 11,425 | 5,374,110 |
Argenx SE * | 2,769 | 1,340,713 |
ASM International NV | 11,149 | 4,600,969 |
ASML Holding NV | 97,756 | 58,763,128 |
EXOR NV | 25,128 | 2,156,716 |
HAL Trust | 21,913 | 2,468,352 |
Heineken Holding NV | 24,444 | 1,859,785 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 93 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Netherlands — continued | ||
Heineken NV | 61,456 | 5,521,419 |
ING Groep NV | 877,680 | 11,252,322 |
JDE Peet's NV | 31,697 | 880,053 |
Koninklijke Ahold Delhaize NV | 236,589 | 7,005,823 |
Koninklijke KPN NV | 812,566 | 2,731,180 |
Koninklijke Philips NV * | 225,185 | 4,283,576 |
NN Group NV | 71,535 | 2,294,298 |
Randstad NV | 29,901 | 1,548,416 |
Shell plc | 1,624,056 | 52,338,214 |
Universal Music Group NV | 185,429 | 4,540,940 |
Wolters Kluwer NV | 62,444 | 8,011,939 |
186,422,083 | ||
New Zealand — 0.2% | ||
Auckland International Airport Ltd. | 317,852 | 1,359,226 |
Contact Energy Ltd. | 190,342 | 863,858 |
Fisher & Paykel Healthcare Corp. Ltd. | 141,052 | 1,710,101 |
Mercury NZ Ltd. | 161,412 | 554,828 |
Meridian Energy Ltd. | 300,665 | 846,781 |
Spark New Zealand Ltd. | 444,301 | 1,289,860 |
6,624,654 | ||
Norway — 0.7% | ||
Aker ASA, Class A | 5,680 | 341,572 |
Aker BP ASA (a) | 75,097 | 2,164,416 |
AutoStore Holdings Ltd. * (c) | 216,156 | 239,326 |
DNB Bank ASA | 216,958 | 3,914,326 |
Equinor ASA | 240,311 | 8,055,998 |
Gjensidige Forsikring ASA | 45,413 | 681,048 |
Kongsberg Gruppen ASA | 21,184 | 865,360 |
Mowi ASA | 107,835 | 1,752,282 |
Norsk Hydro ASA | 325,283 | 1,854,994 |
Orkla ASA | 182,125 | 1,255,296 |
Salmar ASA | 17,246 | 817,717 |
Schibsted ASA, Class A | 17,715 | 354,904 |
Schibsted ASA, Class B | 23,292 | 432,197 |
Storebrand ASA | 112,761 | 941,661 |
Telenor ASA | 152,709 | 1,561,052 |
TOMRA Systems ASA | 56,712 | 449,520 |
Var Energi ASA (a) | 95,429 | 322,399 |
26,004,068 | ||
Poland — 0.4% | ||
Allegro.eu SA * (b) | 102,512 | 735,348 |
Bank Polska Kasa Opieki SA | 42,643 | 1,295,801 |
Dino Polska SA * (b) | 11,649 | 1,103,805 |
INVESTMENTS | SHARES | VALUE($) |
Poland — continued | ||
ING Bank Slaski SA * | 7,771 | 403,557 |
KGHM Polska Miedz SA | 32,976 | 879,974 |
LPP SA | 256 | 824,694 |
ORLEN SA | 140,757 | 2,225,920 |
Powszechna Kasa Oszczednosci Bank Polski SA * | 209,142 | 2,166,452 |
Powszechny Zaklad Ubezpieczen SA | 138,197 | 1,563,821 |
Santander Bank Polska SA * | 8,064 | 875,807 |
12,075,179 | ||
Portugal — 0.2% | ||
EDP - Energias de Portugal SA | 720,344 | 3,027,245 |
Galp Energia SGPS SA | 108,307 | 1,630,537 |
Jeronimo Martins SGPS SA | 67,141 | 1,547,927 |
6,205,709 | ||
Russia — 0.0% ^ | ||
Evraz plc ‡ * | 96,418 | 4,798 |
Singapore — 1.4% | ||
CapitaLand Ascendas, REIT | 862,200 | 1,638,219 |
CapitaLand Integrated Commercial Trust, REIT | 1,226,437 | 1,576,242 |
CapitaLand Investment Ltd. | 580,200 | 1,245,796 |
City Developments Ltd. | 123,300 | 569,130 |
DBS Group Holdings Ltd. | 445,600 | 10,704,797 |
Genting Singapore Ltd. | 1,378,300 | 865,925 |
Great Eastern Holdings Ltd. | 13,500 | 170,397 |
Jardine Cycle & Carriage Ltd. | 22,200 | 457,315 |
Keppel, REIT | 67,060 | 38,939 |
Keppel Corp. Ltd. | 335,300 | 1,522,043 |
Mapletree Pan Asia Commercial Trust, REIT | 551,800 | 536,298 |
Olam Group Ltd. | 254,600 | 184,492 |
Oversea-Chinese Banking Corp. Ltd. | 941,700 | 8,730,610 |
Singapore Airlines Ltd. | 324,850 | 1,450,540 |
Singapore Exchange Ltd. | 199,500 | 1,381,271 |
Singapore Technologies Engineering Ltd. | 370,100 | 1,016,020 |
Singapore Telecommunications Ltd. | 1,722,100 | 2,992,448 |
STMicroelectronics NV | 159,101 | 6,064,948 |
United Overseas Bank Ltd. | 371,800 | 7,333,644 |
UOL Group Ltd. | 110,500 | 475,905 |
Venture Corp. Ltd. | 65,100 | 555,845 |
49,510,824 | ||
South Africa — 0.2% | ||
Anglo American plc | 324,345 | 8,264,185 |
94 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
South Korea — 0.0% ^ | ||
Delivery Hero SE * (b) | 48,365 | 1,236,021 |
Spain — 2.4% | ||
Acciona SA | 5,986 | 754,677 |
ACS Actividades de Construccion y Servicios SA | 48,567 | 1,756,375 |
Aena SME SA (b) | 17,821 | 2,585,840 |
Amadeus IT Group SA | 109,238 | 6,234,520 |
Banco Bilbao Vizcaya Argentaria SA | 1,446,545 | 11,380,309 |
Banco Santander SA | 3,924,431 | 14,433,804 |
CaixaBank SA | 982,349 | 3,993,780 |
Cellnex Telecom SA (b) | 142,188 | 4,179,774 |
Corp. ACCIONA Energias Renovables SA | 13,378 | 362,092 |
EDP Renovaveis SA | 72,007 | 1,158,373 |
Endesa SA | 77,019 | 1,449,087 |
Iberdrola SA | 1,401,269 | 15,584,939 |
Industria de Diseno Textil SA (a) | 272,069 | 9,391,271 |
Naturgy Energy Group SA | 44,674 | 1,264,037 |
Redeia Corp. SA | 98,404 | 1,534,602 |
Repsol SA | 309,749 | 4,535,390 |
Telefonica SA | 1,394,406 | 5,386,087 |
85,984,957 | ||
Sweden — 3.1% | ||
Alfa Laval AB | 69,907 | 2,265,461 |
Assa Abloy AB, Class B | 240,484 | 5,125,935 |
Atlas Copco AB, Class A | 626,908 | 8,117,845 |
Atlas Copco AB, Class B | 378,490 | 4,251,673 |
Axfood AB | 25,894 | 572,530 |
Beijer Ref AB (a) | 94,502 | 898,369 |
Boliden AB | 66,323 | 1,700,067 |
Castellum AB | 102,840 | 985,594 |
Electrolux AB, Class B * | 53,874 | 453,361 |
Embracer Group AB * | 216,018 | 351,709 |
Epiroc AB, Class A | 151,811 | 2,501,044 |
Epiroc AB, Class B | 94,564 | 1,313,051 |
EQT AB | 83,358 | 1,522,935 |
Essity AB, Class A | 6,721 | 153,839 |
Essity AB, Class B | 146,149 | 3,332,471 |
Evolution AB (b) | 46,531 | 4,146,166 |
Fastighets AB Balder, Class B * | 160,728 | 682,902 |
Getinge AB, Class B | 53,000 | 954,167 |
H & M Hennes & Mauritz AB, Class B (a) | 149,656 | 2,010,580 |
Hexagon AB, Class B | 509,739 | 4,154,188 |
Holmen AB, Class B | 22,465 | 847,826 |
Husqvarna AB, Class B | 84,791 | 549,426 |
INVESTMENTS | SHARES | VALUE($) |
Sweden — continued | ||
Industrivarden AB, Class A | 37,819 | 978,582 |
Industrivarden AB, Class C (a) | 36,278 | 935,584 |
Indutrade AB | 64,492 | 1,143,016 |
Investment AB Latour, Class B | 32,542 | 563,573 |
Investor AB, Class A | 136,044 | 2,476,182 |
Investor AB, Class B | 441,792 | 8,110,021 |
Kinnevik AB, Class B * | 58,976 | 504,275 |
L E Lundbergforetagen AB, Class B | 17,691 | 722,500 |
Lifco AB, Class B | 51,389 | 940,314 |
Nibe Industrier AB, Class B | 371,809 | 2,141,384 |
Nordnet AB publ | 38,829 | 549,765 |
Saab AB, Class B | 20,066 | 1,030,819 |
Sagax AB, Class B | 50,089 | 906,757 |
Sagax AB, Class D | 23,576 | 53,077 |
Sandvik AB | 261,587 | 4,455,616 |
Securitas AB, Class B | 121,906 | 976,517 |
Skandinaviska Enskilda Banken AB, Class A | 405,484 | 4,525,005 |
Skandinaviska Enskilda Banken AB, Class C | 4,862 | 55,911 |
Skanska AB, Class B | 86,385 | 1,296,979 |
SKF AB, Class A | 3,409 | 55,220 |
SKF AB, Class B | 90,894 | 1,473,616 |
SSAB AB, Class A | 52,726 | 315,856 |
SSAB AB, Class B | 153,087 | 888,142 |
Svenska Cellulosa AB SCA, Class A | 7,291 | 99,649 |
Svenska Cellulosa AB SCA, Class B | 145,370 | 1,994,689 |
Svenska Handelsbanken AB, Class A | 381,981 | 3,256,654 |
Svenska Handelsbanken AB, Class B (a) | 8,203 | 84,627 |
Swedbank AB, Class A | 222,342 | 3,651,593 |
Swedish Orphan Biovitrum AB * (a) | 55,806 | 1,148,053 |
Tele2 AB, Class B | 134,921 | 958,161 |
Telefonaktiebolaget LM Ericsson, Class A | 12,802 | 59,867 |
Telefonaktiebolaget LM Ericsson, Class B | 747,437 | 3,348,316 |
Telia Co. AB (a) | 562,018 | 1,191,448 |
Trelleborg AB, Class B | 54,955 | 1,389,762 |
Volvo AB, Class A | 46,397 | 930,228 |
Volvo AB, Class B | 385,180 | 7,632,417 |
Volvo Car AB, Class B * | 128,150 | 442,001 |
108,177,315 | ||
Switzerland — 5.4% | ||
ABB Ltd. (Registered) | 392,470 | 13,186,097 |
Alcon, Inc. | 121,169 | 8,672,813 |
Baloise Holding AG (Registered) | 11,104 | 1,594,378 |
Barry Callebaut AG (Registered) | 863 | 1,308,479 |
Chocoladefabriken Lindt & Spruengli AG | 246 | 2,723,519 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 95 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Switzerland — continued | ||
Chocoladefabriken Lindt & Spruengli AG (Registered) | 26 | 2,829,660 |
Cie Financiere Richemont SA (Registered) | 126,579 | 14,933,223 |
DSM-Firmenich AG | 50,248 | 4,555,272 |
EMS-Chemie Holding AG (Registered) | 1,634 | 1,117,755 |
Geberit AG (Registered) | 8,106 | 3,774,265 |
Givaudan SA (Registered) | 1,924 | 6,404,078 |
Julius Baer Group Ltd. | 49,951 | 2,960,181 |
Kuehne + Nagel International AG (Registered) | 13,469 | 3,632,100 |
Lonza Group AG (Registered) | 18,057 | 6,323,633 |
Novartis AG (Registered) | 502,555 | 47,048,982 |
Partners Group Holding AG | 5,309 | 5,621,507 |
Schindler Holding AG | 9,873 | 1,997,533 |
Schindler Holding AG (Registered) | 4,880 | 951,312 |
SGS SA (Registered) | 36,802 | 3,005,644 |
Sika AG (Registered) | 37,359 | 8,940,367 |
Sonova Holding AG (Registered) | 11,866 | 2,812,401 |
Straumann Holding AG (Registered) | 28,226 | 3,335,866 |
Swatch Group AG (The) | 7,017 | 1,796,185 |
Swatch Group AG (The) (Registered) | 13,326 | 645,389 |
Swiss Life Holding AG (Registered) | 7,157 | 4,596,804 |
Swisscom AG (Registered) | 6,153 | 3,686,809 |
UBS Group AG (Registered) | 738,768 | 17,358,420 |
Zurich Insurance Group AG | 35,487 | 16,856,060 |
192,668,732 | ||
United Arab Emirates — 0.0% ^ | ||
NMC Health plc ‡ * | 300 | — (d) |
United Kingdom — 11.5% | ||
3i Group plc | 236,007 | 5,564,476 |
abrdn plc | 467,627 | 892,746 |
Admiral Group plc | 63,236 | 1,878,916 |
Ashtead Group plc | 109,447 | 6,277,060 |
Associated British Foods plc | 82,137 | 2,026,161 |
AstraZeneca plc | 375,820 | 47,054,075 |
Auto Trader Group plc (b) | 223,212 | 1,688,432 |
Aviva plc | 664,005 | 3,216,155 |
B&M European Value Retail SA | 225,930 | 1,454,479 |
BAE Systems plc | 741,235 | 9,966,929 |
Barclays plc | 3,559,798 | 5,713,646 |
Barratt Developments plc | 236,322 | 1,191,819 |
Berkeley Group Holdings plc | 27,988 | 1,375,797 |
BP plc | 4,192,711 | 25,600,776 |
British American Tobacco plc | 542,149 | 16,195,318 |
British Land Co. plc (The), REIT | 227,579 | 825,038 |
INVESTMENTS | SHARES | VALUE($) |
United Kingdom — continued | ||
BT Group plc | 1,377,766 | 1,892,264 |
Bunzl plc | 81,948 | 2,923,594 |
Burberry Group plc | 91,531 | 1,886,460 |
Centrica plc | 1,360,851 | 2,605,076 |
CK Hutchison Holdings Ltd. | 650,500 | 3,293,017 |
CNH Industrial NV | 236,200 | 2,617,563 |
Coca-Cola Europacific Partners plc | 50,081 | 2,930,239 |
Compass Group plc | 432,934 | 10,914,866 |
ConvaTec Group plc (b) | 391,861 | 972,579 |
Croda International plc | 34,564 | 1,842,129 |
DCC plc | 24,574 | 1,365,186 |
Dechra Pharmaceuticals plc | 27,614 | 1,279,882 |
Diageo plc | 542,796 | 20,526,387 |
DS Smith plc | 334,009 | 1,158,500 |
easyJet plc * | 156,238 | 696,975 |
Entain plc | 154,896 | 1,758,426 |
Halma plc | 92,060 | 2,070,280 |
Hargreaves Lansdown plc | 85,111 | 733,014 |
Hiscox Ltd. | 85,962 | 980,046 |
Howden Joinery Group plc | 134,237 | 1,042,499 |
HSBC Holdings plc | 4,854,920 | 35,054,588 |
Imperial Brands plc | 221,927 | 4,727,975 |
Informa plc | 338,308 | 2,931,263 |
InterContinental Hotels Group plc | 42,513 | 3,012,580 |
Intermediate Capital Group plc | 71,374 | 1,136,346 |
Intertek Group plc | 39,136 | 1,822,706 |
ITV plc | 880,459 | 685,556 |
J Sainsbury plc | 430,508 | 1,346,983 |
JD Sports Fashion plc | 603,283 | 938,006 |
Johnson Matthey plc | 46,943 | 853,387 |
Kingfisher plc | 459,960 | 1,174,516 |
Land Securities Group plc, REIT | 182,183 | 1,262,839 |
Legal & General Group plc | 1,449,607 | 3,734,922 |
Lloyds Banking Group plc | 16,311,967 | 7,939,035 |
London Stock Exchange Group plc | 100,188 | 10,108,478 |
M&G plc | 575,834 | 1,390,545 |
Melrose Industries plc | 327,713 | 1,865,925 |
National Grid plc | 897,082 | 10,695,888 |
NatWest Group plc | 1,353,205 | 2,944,327 |
Next plc | 30,746 | 2,577,821 |
Ocado Group plc * | 176,550 | 1,001,942 |
Pearson plc | 173,741 | 2,011,180 |
Pepco Group NV * (b) | 39,042 | 158,242 |
Persimmon plc | 77,452 | 959,167 |
96 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
United Kingdom — continued | ||
Phoenix Group Holdings plc | 230,648 | 1,274,075 |
Reckitt Benckiser Group plc | 178,600 | 11,949,583 |
RELX plc | 469,740 | 16,406,945 |
Rentokil Initial plc | 611,075 | 3,111,894 |
Rightmove plc | 200,251 | 1,154,774 |
Rolls-Royce Holdings plc * | 2,040,934 | 5,372,201 |
Sage Group plc (The) | 248,240 | 2,932,664 |
Schroders plc | 222,815 | 1,003,349 |
Segro plc, REIT | 296,969 | 2,581,299 |
Severn Trent plc | 67,511 | 2,179,414 |
Smith & Nephew plc | 212,821 | 2,381,708 |
Smiths Group plc | 84,595 | 1,659,385 |
Spirax-Sarco Engineering plc | 17,891 | 1,785,766 |
SSE plc | 265,263 | 5,271,723 |
St. James's Place plc | 133,024 | 1,037,027 |
Standard Chartered plc | 559,821 | 4,292,337 |
Tate & Lyle plc | 97,396 | 746,386 |
Taylor Wimpey plc | 862,518 | 1,164,955 |
Tesco plc | 1,729,863 | 5,676,653 |
Unilever plc | 610,241 | 28,901,432 |
United Utilities Group plc | 165,346 | 2,138,514 |
Vodafone Group plc | 5,520,270 | 5,081,627 |
Weir Group plc (The) | 62,951 | 1,307,528 |
Whitbread plc | 47,412 | 1,922,469 |
Wise plc, Class A * | 114,308 | 929,067 |
WPP plc | 260,193 | 2,240,582 |
409,248,379 | ||
United States — 6.8% | ||
CSL Ltd. | 116,966 | 17,286,654 |
Experian plc | 223,769 | 6,788,887 |
Ferrovial SE | 120,781 | 3,635,029 |
GSK plc | 993,339 | 17,708,030 |
Haleon plc | 1,164,415 | 4,667,081 |
Holcim AG | 129,195 | 7,987,838 |
James Hardie Industries plc, CHDI * | 106,722 | 2,662,653 |
Nestle SA (Registered) | 647,438 | 69,818,924 |
QIAGEN NV * | 55,975 | 2,086,083 |
Roche Holding AG | 170,363 | 43,904,188 |
Roche Holding AG | 6,466 | 1,762,057 |
Sanofi SA | 269,831 | 24,502,334 |
Schneider Electric SE | 130,571 | 20,089,298 |
Stellantis NV | 536,479 | 10,022,686 |
INVESTMENTS | SHARES | VALUE($) |
United States — continued | ||
Swiss Re AG | 70,058 | 7,654,736 |
Tenaris SA | 111,642 | 1,768,563 |
242,345,041 | ||
Total Common Stocks (Cost $3,537,443,851) | 3,516,354,347 | |
Short-Term Investments — 1.1% | ||
Investment Companies — 0.7% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (e) (f)(Cost $26,299,048) | 26,299,048 | 26,299,048 |
Investment of Cash Collateral from Securities Loaned — 0.4% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.53% (e) (f) | 11,009,025 | 11,011,226 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (e) (f) | 2,270,425 | 2,270,425 |
Total Investment of Cash Collateral from Securities Loaned (Cost $13,281,651) | 13,281,651 | |
Total Short-Term Investments (Cost $39,580,699) | 39,580,699 | |
Total Investments — 99.9% (Cost $3,577,024,550) | 3,555,935,046 | |
Other Assets Less Liabilities — 0.1% | 4,361,631 | |
NET ASSETS — 100.0% | 3,560,296,677 |
Percentages indicated are based on net assets. |
Abbreviations | |
APAC | Asia Pacific |
CHDI | Clearing House Electronic Subregister System (CHESS) Depository Interest |
CVA | Certificaten Van Aandelen (Dutch Certificate) |
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. |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 97 |
(a) | The security or a portion of this security is on loan at October 31, 2023. The total value of securities on loan at October 31, 2023 is $12,645,686. | |
(b) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. | |
(c) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. | |
(d) | Value is zero. | |
(e) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(f) | The rate shown is the current yield as of October 31, 2023. |
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Banks | 10.0 % |
Pharmaceuticals | 9.3 |
Insurance | 5.3 |
Oil, Gas & Consumable Fuels | 4.8 |
Automobiles | 3.5 |
Metals & Mining | 3.3 |
Food Products | 3.2 |
Semiconductors & Semiconductor Equipment | 3.2 |
Chemicals | 3.1 |
Machinery | 2.9 |
Textiles, Apparel & Luxury Goods | 2.9 |
Capital Markets | 2.6 |
Trading Companies & Distributors | 2.1 |
Health Care Equipment & Supplies | 2.0 |
Beverages | 2.0 |
Personal Care Products | 1.9 |
Diversified Telecommunication Services | 1.8 |
Electric Utilities | 1.8 |
Aerospace & Defense | 1.8 |
Electrical Equipment | 1.7 |
Hotels, Restaurants & Leisure | 1.6 |
Professional Services | 1.6 |
Industrial Conglomerates | 1.5 |
Consumer Staples Distribution & Retail | 1.4 |
Electronic Equipment, Instruments & Components | 1.4 |
Software | 1.4 |
Real Estate Management & Development | 1.3 |
Household Durables | 1.2 |
Financial Services | 1.2 |
Wireless Telecommunication Services | 1.0 |
Building Products | 1.0 |
Others (each less than 1.0%) | 15.1 |
Short-Term Investments | 1.1 |
98 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
MSCI EAFE E-Mini Index | 436 | 12/15/2023 | USD | 43,033,200 | (2,144,748 ) |
Abbreviations | |
EAFE | Europe, Australasia and Far East |
MSCI | Morgan Stanley Capital International |
USD | United States Dollar |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 99 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 98.5% | ||
Air Freight & Logistics — 0.4% | ||
Nippon Express Holdings, Inc. | 197,500 | 10,150,595 |
SG Holdings Co. Ltd. | 1,153,700 | 16,353,248 |
Yamato Holdings Co. Ltd. | 792,100 | 13,193,233 |
39,697,076 | ||
Automobile Components — 2.1% | ||
Aisin Corp. | 432,700 | 15,073,052 |
Bridgestone Corp. | 1,388,500 | 52,548,070 |
Denso Corp. | 4,709,000 | 69,534,665 |
Koito Manufacturing Co. Ltd. | 609,600 | 9,133,473 |
Niterra Co. Ltd. | 406,400 | 9,096,371 |
Stanley Electric Co. Ltd. | 349,300 | 5,586,911 |
Sumitomo Electric Industries Ltd. | 1,882,300 | 19,760,823 |
180,733,365 | ||
Automobiles — 8.9% | ||
Honda Motor Co. Ltd. | 11,857,800 | 121,527,899 |
Isuzu Motors Ltd. | 1,474,800 | 16,444,981 |
Mazda Motor Corp. | 1,423,700 | 13,761,470 |
Mitsubishi Motors Corp. | 1,625,900 | 5,311,115 |
Nissan Motor Co. Ltd. | 5,605,700 | 21,570,645 |
Subaru Corp. | 1,459,300 | 25,260,918 |
Suzuki Motor Corp. | 1,164,200 | 45,184,944 |
Toyota Motor Corp. | 29,407,700 | 514,450,934 |
Yamaha Motor Co. Ltd. | 831,200 | 20,311,911 |
783,824,817 | ||
Banks — 7.4% | ||
Chiba Bank Ltd. (The) | 1,720,600 | 12,815,969 |
Concordia Financial Group Ltd. | 2,792,200 | 12,973,675 |
Fukuoka Financial Group, Inc. | 452,600 | 11,963,911 |
Japan Post Bank Co. Ltd. | 3,345,300 | 31,008,274 |
Kyoto Financial Group, Inc. | 179,900 | 10,199,217 |
Mitsubishi UFJ Financial Group, Inc. | 30,090,300 | 252,431,953 |
Mizuho Financial Group, Inc. | 6,021,800 | 102,240,460 |
Resona Holdings, Inc. | 5,602,600 | 29,936,498 |
Sumitomo Mitsui Financial Group, Inc. | 3,172,800 | 152,954,277 |
Sumitomo Mitsui Trust Holdings, Inc. | 863,700 | 32,385,989 |
648,910,223 | ||
Beverages — 0.9% | ||
Asahi Group Holdings Ltd. | 1,203,000 | 43,513,008 |
Kirin Holdings Co. Ltd. | 1,929,700 | 27,118,690 |
Suntory Beverage & Food Ltd. | 301,000 | 9,058,012 |
79,689,710 |
INVESTMENTS | SHARES | VALUE($) |
Broadline Retail — 0.4% | ||
Pan Pacific International Holdings Corp. | 1,264,400 | 24,486,197 |
Rakuten Group, Inc. | 3,498,900 | 12,942,154 |
37,428,351 | ||
Building Products — 1.5% | ||
AGC, Inc. | 539,400 | 18,349,900 |
Daikin Industries Ltd. | 695,400 | 100,262,033 |
Lixil Corp. | 681,500 | 7,472,695 |
TOTO Ltd. | 369,300 | 8,904,419 |
134,989,047 | ||
Capital Markets — 1.0% | ||
Daiwa Securities Group, Inc. | 3,461,300 | 19,959,489 |
Japan Exchange Group, Inc. | 1,253,700 | 24,791,664 |
Nomura Holdings, Inc. | 6,978,300 | 26,960,023 |
SBI Holdings, Inc. | 574,700 | 12,364,638 |
84,075,814 | ||
Chemicals — 3.7% | ||
Asahi Kasei Corp. | 3,305,500 | 20,321,505 |
JSR Corp. (a) | 494,700 | 13,241,112 |
Kansai Paint Co. Ltd. | 565,700 | 8,278,856 |
Mitsubishi Chemical Group Corp. | 3,394,100 | 19,205,873 |
Mitsubishi Gas Chemical Co., Inc. | 485,400 | 6,560,601 |
Mitsui Chemicals, Inc. | 451,800 | 11,387,384 |
Nippon Paint Holdings Co. Ltd. | 2,529,900 | 17,008,799 |
Nippon Sanso Holdings Corp. | 503,600 | 12,700,042 |
Nissan Chemical Corp. | 331,800 | 13,532,525 |
Nitto Denko Corp. | 355,200 | 22,983,494 |
Shin-Etsu Chemical Co. Ltd. | 4,801,200 | 143,572,101 |
Sumitomo Chemical Co. Ltd. | 3,928,900 | 9,986,333 |
Toray Industries, Inc. | 3,868,700 | 18,716,150 |
Tosoh Corp. | 770,600 | 9,435,401 |
326,930,176 | ||
Commercial Services & Supplies — 0.8% | ||
Dai Nippon Printing Co. Ltd. | 616,200 | 16,074,972 |
Secom Co. Ltd. | 498,300 | 34,609,350 |
TOPPAN Holdings, Inc. | 779,100 | 17,969,066 |
68,653,388 | ||
Construction & Engineering — 0.7% | ||
Kajima Corp. | 1,115,600 | 18,437,965 |
Obayashi Corp. | 1,710,500 | 14,651,816 |
Shimizu Corp. | 1,498,700 | 10,665,486 |
Taisei Corp. | 447,000 | 15,158,979 |
58,914,246 |
100 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Consumer Finance — 0.1% | ||
Acom Co. Ltd. | 1,151,200 | 2,703,364 |
Marui Group Co. Ltd. | 439,800 | 6,954,618 |
9,657,982 | ||
Consumer Staples Distribution & Retail — 1.7% | ||
Aeon Co. Ltd. | 2,067,300 | 43,495,227 |
Cosmos Pharmaceutical Corp. | 55,900 | 5,817,379 |
Kobe Bussan Co. Ltd. (a) | 344,100 | 8,515,805 |
Lawson, Inc. | 119,500 | 5,756,813 |
MatsukiyoCocokara & Co. | 885,000 | 15,524,488 |
Seven & i Holdings Co. Ltd. | 1,891,400 | 69,298,457 |
Welcia Holdings Co. Ltd. | 243,100 | 4,029,581 |
152,437,750 | ||
Diversified REITs — 0.3% | ||
Daiwa House REIT Investment Corp. | 5,065 | 8,963,772 |
Nomura Real Estate Master Fund, Inc. | 11,180 | 12,336,665 |
United Urban Investment Corp. | 7,349 | 7,409,033 |
28,709,470 | ||
Diversified Telecommunication Services — 0.9% | ||
Nippon Telegraph & Telephone Corp. | 70,869,100 | 83,397,033 |
Electric Utilities — 0.6% | ||
Chubu Electric Power Co., Inc. | 1,797,800 | 21,724,897 |
Kansai Electric Power Co., Inc. (The) | 1,959,400 | 25,087,849 |
Tokyo Electric Power Co. Holdings, Inc. * | 1,903,500 | 8,055,116 |
54,867,862 | ||
Electrical Equipment — 1.3% | ||
Fuji Electric Co. Ltd. | 354,100 | 13,482,227 |
Mitsubishi Electric Corp. | 5,092,200 | 58,389,769 |
NIDEC Corp. | 1,244,700 | 45,656,897 |
117,528,893 | ||
Electronic Equipment, Instruments & Components — 4.7% | ||
Hamamatsu Photonics KK | 348,500 | 12,944,343 |
Hirose Electric Co. Ltd. | 72,300 | 8,191,527 |
Ibiden Co. Ltd. | 334,300 | 14,253,366 |
Keyence Corp. | 473,600 | 183,339,424 |
Kyocera Corp. | 824,600 | 40,645,698 |
Murata Manufacturing Co. Ltd. | 4,472,100 | 76,604,294 |
Omron Corp. | 489,600 | 17,541,018 |
Shimadzu Corp. | 653,600 | 15,455,217 |
TDK Corp. | 921,900 | 34,493,088 |
Yokogawa Electric Corp. | 554,200 | 10,061,627 |
413,529,602 |
INVESTMENTS | SHARES | VALUE($) |
Entertainment — 2.0% | ||
Capcom Co. Ltd. | 397,900 | 12,808,134 |
Koei Tecmo Holdings Co. Ltd. | 287,600 | 3,755,386 |
Konami Group Corp. | 244,500 | 12,665,611 |
Nexon Co. Ltd. | 1,073,700 | 19,701,590 |
Nintendo Co. Ltd. | 2,771,500 | 114,503,010 |
Square Enix Holdings Co. Ltd. | 211,900 | 7,039,695 |
Toho Co. Ltd. | 296,900 | 10,143,021 |
180,616,447 | ||
Financial Services — 0.8% | ||
GMO Payment Gateway, Inc. | 107,700 | 4,301,458 |
Mitsubishi HC Capital, Inc. | 2,296,600 | 15,139,714 |
ORIX Corp. | 2,781,600 | 50,587,156 |
Tokyo Century Corp. | 111,500 | 4,295,951 |
74,324,279 | ||
Food Products — 1.6% | ||
Ajinomoto Co., Inc. | 1,256,600 | 45,894,407 |
Kikkoman Corp. | 461,800 | 26,274,004 |
MEIJI Holdings Co. Ltd. | 654,800 | 16,117,266 |
Nisshin Seifun Group, Inc. | 620,100 | 9,353,462 |
Nissin Foods Holdings Co. Ltd. | 197,500 | 17,184,215 |
Toyo Suisan Kaisha Ltd. | 241,400 | 11,136,012 |
Yakult Honsha Co. Ltd. | 722,000 | 17,013,889 |
142,973,255 | ||
Gas Utilities — 0.5% | ||
Osaka Gas Co. Ltd. | 987,500 | 18,622,065 |
Tokyo Gas Co. Ltd. | 958,700 | 21,529,680 |
40,151,745 | ||
Ground Transportation — 2.7% | ||
Central Japan Railway Co. | 2,442,000 | 54,965,543 |
East Japan Railway Co. | 896,400 | 46,556,622 |
Hankyu Hanshin Holdings, Inc. | 602,600 | 18,959,966 |
Keio Corp. | 305,400 | 9,062,583 |
Keisei Electric Railway Co. Ltd. | 408,500 | 15,388,050 |
Kintetsu Group Holdings Co. Ltd. | 451,400 | 12,700,937 |
Kyushu Railway Co. | 373,000 | 7,626,469 |
Nagoya Railroad Co. Ltd. | 467,100 | 6,538,839 |
Odakyu Electric Railway Co. Ltd. | 874,200 | 12,445,401 |
Seibu Holdings, Inc. | 645,100 | 6,299,060 |
Tobu Railway Co. Ltd. | 498,000 | 11,986,587 |
Tokyu Corp. | 1,481,700 | 16,726,965 |
West Japan Railway Co. | 578,400 | 22,045,458 |
241,302,480 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 101 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Health Care Equipment & Supplies — 2.2% | ||
Asahi Intecc Co. Ltd. (a) | 560,300 | 9,414,514 |
Hoya Corp. | 840,300 | 80,894,522 |
Olympus Corp. | 3,003,500 | 40,112,797 |
Sysmex Corp. | 377,900 | 18,102,471 |
Terumo Corp. | 1,773,500 | 48,519,750 |
197,044,054 | ||
Health Care Providers & Services — 0.1% | ||
Medipal Holdings Corp. | 497,700 | 8,367,825 |
Health Care Technology — 0.2% | ||
M3, Inc. | 1,015,100 | 15,633,751 |
Hotels, Restaurants & Leisure — 1.1% | ||
McDonald's Holdings Co. Japan Ltd. | 201,600 | 7,843,813 |
Oriental Land Co. Ltd. | 2,759,800 | 89,266,745 |
97,110,558 | ||
Household Durables — 4.3% | ||
Haseko Corp. | 499,700 | 6,149,732 |
Iida Group Holdings Co. Ltd. | 398,700 | 6,190,693 |
Nikon Corp. | 774,800 | 7,356,273 |
Open House Group Co. Ltd. | 166,000 | 5,471,420 |
Panasonic Holdings Corp. | 5,820,400 | 51,065,232 |
Rinnai Corp. | 281,800 | 5,176,508 |
Sekisui Chemical Co. Ltd. | 1,009,400 | 13,825,626 |
Sekisui House Ltd. | 1,572,500 | 30,793,875 |
Sharp Corp. * | 663,800 | 4,150,222 |
Sony Group Corp. | 2,991,500 | 248,709,978 |
378,889,559 | ||
Household Products — 0.5% | ||
Lion Corp. | 694,000 | 6,660,103 |
Unicharm Corp. | 1,045,700 | 35,531,713 |
42,191,816 | ||
Industrial Conglomerates — 1.8% | ||
Hikari Tsushin, Inc. | 55,500 | 8,007,144 |
Hitachi Ltd. | 2,224,700 | 141,016,231 |
Toshiba Corp. * | 215,400 | 6,548,302 |
155,571,677 | ||
Industrial REITs — 0.2% | ||
GLP J-REIT | 11,674 | 10,455,908 |
Nippon Prologis REIT, Inc. | 5,787 | 10,297,248 |
20,753,156 | ||
Insurance — 3.5% | ||
Dai-ichi Life Holdings, Inc. | 2,347,700 | 49,595,237 |
INVESTMENTS | SHARES | VALUE($) |
Insurance — continued | ||
Japan Post Holdings Co. Ltd. | 4,760,400 | 42,135,268 |
Japan Post Insurance Co. Ltd. | 435,600 | 8,387,952 |
MS&AD Insurance Group Holdings, Inc. | 1,055,500 | 38,674,087 |
Sompo Holdings, Inc. | 825,300 | 35,751,969 |
T&D Holdings, Inc. | 1,298,800 | 23,169,585 |
Tokio Marine Holdings, Inc. | 4,748,900 | 106,243,512 |
303,957,610 | ||
Interactive Media & Services — 0.2% | ||
LY Corp. | 6,336,400 | 16,154,567 |
IT Services — 2.1% | ||
Fujitsu Ltd. | 412,000 | 53,373,590 |
NEC Corp. | 647,700 | 31,187,165 |
Nomura Research Institute Ltd. | 1,099,000 | 28,848,701 |
NTT Data Group Corp. | 1,397,400 | 17,229,819 |
Obic Co. Ltd. | 156,100 | 23,074,133 |
Otsuka Corp. | 274,100 | 10,989,936 |
SCSK Corp. | 363,500 | 6,205,045 |
TIS, Inc. | 510,400 | 10,930,141 |
181,838,530 | ||
Leisure Products — 0.9% | ||
Bandai Namco Holdings, Inc. | 1,579,900 | 32,733,184 |
Sega Sammy Holdings, Inc. | 377,500 | 5,903,941 |
Shimano, Inc. | 195,100 | 28,076,083 |
Yamaha Corp. | 403,900 | 10,788,139 |
77,501,347 | ||
Machinery — 4.6% | ||
Daifuku Co. Ltd. | 900,900 | 14,885,480 |
FANUC Corp. | 2,235,700 | 55,482,065 |
Hitachi Construction Machinery Co. Ltd. | 244,400 | 6,314,258 |
Hoshizaki Corp. | 270,700 | 8,742,163 |
Kawasaki Heavy Industries Ltd. | 398,000 | 8,784,590 |
Komatsu Ltd. | 2,309,000 | 53,052,505 |
Kubota Corp. | 2,521,100 | 33,906,896 |
Kurita Water Industries Ltd. | 252,900 | 7,683,970 |
Makita Corp. | 664,600 | 17,177,820 |
MINEBEA MITSUMI, Inc. | 1,013,500 | 15,890,974 |
MISUMI Group, Inc. | 675,600 | 10,227,681 |
Mitsubishi Heavy Industries Ltd. | 799,500 | 41,177,994 |
NGK Insulators Ltd. | 620,800 | 7,585,096 |
SMC Corp. | 144,100 | 66,540,067 |
102 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Machinery — continued | ||
Toyota Industries Corp. | 447,500 | 33,166,337 |
Yaskawa Electric Corp. | 631,800 | 20,680,792 |
401,298,688 | ||
Marine Transportation — 0.6% | ||
Mitsui OSK Lines Ltd. | 859,200 | 22,182,239 |
Nippon Yusen KK | 1,210,400 | 29,615,161 |
51,797,400 | ||
Media — 0.3% | ||
CyberAgent, Inc. | 983,500 | 5,162,837 |
Dentsu Group, Inc. | 544,600 | 15,818,446 |
Hakuhodo DY Holdings, Inc. | 711,500 | 5,773,961 |
26,755,244 | ||
Metals & Mining — 1.0% | ||
JFE Holdings, Inc. | 1,384,900 | 19,295,631 |
Nippon Steel Corp. | 2,253,100 | 48,596,802 |
Sumitomo Metal Mining Co. Ltd. | 649,000 | 18,231,681 |
86,124,114 | ||
Office REITs — 0.4% | ||
Japan Real Estate Investment Corp. | 3,377 | 12,543,265 |
Nippon Building Fund, Inc. | 4,031 | 16,196,290 |
Orix JREIT, Inc. | 6,551 | 7,528,816 |
36,268,371 | ||
Oil, Gas & Consumable Fuels — 0.8% | ||
ENEOS Holdings, Inc. | 7,193,200 | 26,653,808 |
Idemitsu Kosan Co. Ltd. | 529,952 | 12,032,614 |
Inpex Corp. | 2,433,000 | 35,304,960 |
73,991,382 | ||
Paper & Forest Products — 0.1% | ||
Oji Holdings Corp. | 2,405,300 | 10,287,185 |
Passenger Airlines — 0.2% | ||
ANA Holdings, Inc. * | 378,900 | 7,438,517 |
Japan Airlines Co. Ltd. | 342,300 | 6,292,770 |
13,731,287 | ||
Personal Care Products — 0.9% | ||
Kao Corp. | 1,104,800 | 40,307,417 |
Kobayashi Pharmaceutical Co. Ltd. | 133,700 | 5,519,574 |
Kose Corp. | 84,900 | 5,624,709 |
Shiseido Co. Ltd. | 948,300 | 30,075,783 |
81,527,483 |
INVESTMENTS | SHARES | VALUE($) |
Pharmaceuticals — 5.5% | ||
Astellas Pharma, Inc. | 4,292,300 | 54,297,062 |
Chugai Pharmaceutical Co. Ltd. | 1,512,700 | 44,861,486 |
Daiichi Sankyo Co. Ltd. | 4,618,400 | 119,081,723 |
Eisai Co. Ltd. | 703,500 | 37,270,275 |
Kyowa Kirin Co. Ltd. | 601,400 | 9,432,535 |
Nippon Shinyaku Co. Ltd. | 145,200 | 5,888,741 |
Ono Pharmaceutical Co. Ltd. | 1,153,000 | 19,911,725 |
Otsuka Holdings Co. Ltd. | 1,322,500 | 44,496,787 |
Santen Pharmaceutical Co. Ltd. | 891,600 | 7,733,336 |
Shionogi & Co. Ltd. | 663,900 | 30,914,259 |
Taisho Pharmaceutical Holdings Co. Ltd. | 135,700 | 5,373,459 |
Takeda Pharmaceutical Co. Ltd. | 3,753,000 | 101,874,240 |
481,135,628 | ||
Professional Services — 1.4% | ||
Persol Holdings Co. Ltd. | 4,369,000 | 6,550,948 |
Recruit Holdings Co. Ltd. | 4,021,900 | 115,318,765 |
121,869,713 | ||
Real Estate Management & Development — 2.3% | ||
Daito Trust Construction Co. Ltd. | 155,500 | 16,679,923 |
Daiwa House Industry Co. Ltd. | 1,580,600 | 43,475,469 |
Hulic Co. Ltd. | 1,420,800 | 13,026,084 |
Mitsubishi Estate Co. Ltd. | 3,140,200 | 40,195,567 |
Mitsui Fudosan Co. Ltd. | 2,221,500 | 48,150,706 |
Nomura Real Estate Holdings, Inc. | 268,400 | 6,268,772 |
Sumitomo Realty & Development Co. Ltd. | 1,128,700 | 28,323,530 |
Tokyu Fudosan Holdings Corp. | 1,434,100 | 8,355,535 |
204,475,586 | ||
Residential REITs — 0.1% | ||
Advance Residence Investment Corp. | 3,287 | 7,146,609 |
Retail REITs — 0.1% | ||
Japan Metropolitan Fund Invest | 16,573 | 10,695,335 |
Semiconductors & Semiconductor Equipment — 3.8% | ||
Advantest Corp. | 1,817,000 | 46,803,441 |
Disco Corp. | 210,500 | 37,174,099 |
Lasertec Corp. | 187,800 | 31,020,846 |
Renesas Electronics Corp. * | 3,391,100 | 44,544,202 |
Rohm Co. Ltd. | 831,100 | 13,315,860 |
SUMCO Corp. | 831,100 | 10,739,601 |
Tokyo Electron Ltd. | 1,118,300 | 147,769,581 |
331,367,630 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 103 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Software — 0.2% | ||
Oracle Corp. | 79,100 | 5,611,330 |
Trend Micro, Inc. | 334,200 | 12,594,200 |
18,205,530 | ||
Specialty Retail — 1.7% | ||
ABC-Mart, Inc. | 222,800 | 3,450,959 |
Fast Retailing Co. Ltd. | 476,000 | 105,384,688 |
Nitori Holdings Co. Ltd. | 206,100 | 22,319,566 |
USS Co. Ltd. | 524,300 | 9,164,186 |
ZOZO, Inc. | 288,900 | 5,493,360 |
145,812,759 | ||
Technology Hardware, Storage & Peripherals — 1.6% | ||
Brother Industries Ltd. | 610,700 | 9,527,073 |
Canon, Inc. | 2,403,600 | 56,822,779 |
FUJIFILM Holdings Corp. | 982,700 | 53,751,532 |
Ricoh Co. Ltd. | 1,445,600 | 11,716,745 |
Seiko Epson Corp. | 775,700 | 10,769,183 |
142,587,312 | ||
Textiles, Apparel & Luxury Goods — 0.2% | ||
Asics Corp. | 449,600 | 14,241,972 |
Tobacco — 0.7% | ||
Japan Tobacco, Inc. | 2,608,200 | 60,715,956 |
Trading Companies & Distributors — 6.6% | ||
ITOCHU Corp. | 3,457,900 | 124,557,125 |
Marubeni Corp. | 4,028,100 | 58,897,978 |
Mitsubishi Corp. | 3,409,500 | 158,935,752 |
Mitsui & Co. Ltd. | 3,663,600 | 133,150,525 |
MonotaRO Co. Ltd. (a) | 582,300 | 4,653,734 |
Sojitz Corp. | 518,500 | 10,766,856 |
Sumitomo Corp. | 2,900,700 | 57,021,016 |
Toyota Tsusho Corp. | 562,400 | 29,940,089 |
577,923,075 | ||
Transportation Infrastructure — 0.1% | ||
Japan Airport Terminal Co. Ltd. | 220,600 | 9,701,777 |
INVESTMENTS | SHARES | VALUE($) |
Wireless Telecommunication Services — 3.2% | ||
KDDI Corp. | 3,450,300 | 103,214,836 |
SoftBank Corp. | 6,701,700 | 75,775,238 |
SoftBank Group Corp. | 2,475,800 | 101,394,091 |
280,384,165 | ||
Total Common Stocks (Cost $9,352,402,744) | 8,666,401,662 | |
Short-Term Investments — 0.1% | ||
Investment of Cash Collateral from Securities Loaned — 0.1% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.53% (b) (c) | 7,350,161 | 7,351,631 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (b) (c) | 1,317,980 | 1,317,980 |
Total Investment of Cash Collateral from Securities Loaned (Cost $8,669,611) | 8,669,611 | |
Total Investments — 98.6% (Cost $9,361,072,355) | 8,675,071,273 | |
Other Assets Less Liabilities — 1.4% | 122,238,661 | |
NET ASSETS — 100.0% | 8,797,309,934 |
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 October 31, 2023. The total value of securities on loan at October 31, 2023 is $8,163,766. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of October 31, 2023. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
TOPIX Index | 843 | 12/07/2023 | JPY | 128,361,801 | (2,143,130 ) |
104 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Abbreviations | |
JPY | Japanese Yen |
TOPIX | Tokyo Stock Price Index |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 105 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 99.2% | ||
Aerospace & Defense — 1.6% | ||
Boeing Co. (The) * | 33,497 | 6,257,909 |
General Dynamics Corp. | 13,386 | 3,230,176 |
HEICO Corp. | 2,358 | 373,531 |
HEICO Corp., Class A | 4,489 | 570,687 |
Howmet Aerospace, Inc. | 23,133 | 1,020,165 |
Huntington Ingalls Industries, Inc. | 2,354 | 517,456 |
L3Harris Technologies, Inc. | 11,169 | 2,003,830 |
Lockheed Martin Corp. | 13,241 | 6,019,888 |
Northrop Grumman Corp. | 8,407 | 3,963,312 |
RTX Corp. (a) | 85,987 | 6,998,482 |
Textron, Inc. | 11,698 | 889,048 |
TransDigm Group, Inc. * | 3,264 | 2,702,886 |
34,547,370 | ||
Air Freight & Logistics — 0.5% | ||
CH Robinson Worldwide, Inc. | 6,879 | 562,909 |
Expeditors International of Washington, Inc. | 8,736 | 954,408 |
FedEx Corp. | 13,673 | 3,282,887 |
United Parcel Service, Inc., Class B | 42,728 | 6,035,330 |
10,835,534 | ||
Automobile Components — 0.1% | ||
Aptiv plc * | 16,709 | 1,457,025 |
BorgWarner, Inc. | 13,886 | 512,393 |
Lear Corp. | 3,470 | 450,267 |
2,419,685 | ||
Automobiles — 1.8% | ||
Ford Motor Co. | 232,246 | 2,264,399 |
General Motors Co. | 81,285 | 2,292,237 |
Lucid Group, Inc. * (a) | 52,383 | 215,818 |
Rivian Automotive, Inc., Class A * (a) | 39,437 | 639,668 |
Tesla, Inc. * | 163,136 | 32,764,234 |
38,176,356 | ||
Banks — 2.8% | ||
Bank of America Corp. | 408,418 | 10,757,730 |
Citigroup, Inc. | 113,762 | 4,492,461 |
Citizens Financial Group, Inc. | 27,898 | 653,650 |
East West Bancorp, Inc. | 8,353 | 447,888 |
Fifth Third Bancorp | 40,228 | 953,806 |
Huntington Bancshares, Inc. | 85,533 | 825,393 |
JPMorgan Chase & Co. (b) | 170,786 | 23,749,501 |
KeyCorp | 55,293 | 565,095 |
M&T Bank Corp. | 9,801 | 1,105,063 |
PNC Financial Services Group, Inc. (The) | 23,530 | 2,693,479 |
INVESTMENTS | SHARES | VALUE($) |
Banks — continued | ||
Regions Financial Corp. | 55,435 | 805,471 |
Truist Financial Corp. | 78,684 | 2,231,478 |
US Bancorp | 91,976 | 2,932,195 |
Wells Fargo & Co. | 216,153 | 8,596,405 |
60,809,615 | ||
Beverages — 1.6% | ||
Brown-Forman Corp., Class A (a) | 3,303 | 189,658 |
Brown-Forman Corp., Class B | 10,812 | 607,202 |
Coca-Cola Co. (The) | 229,915 | 12,987,898 |
Constellation Brands, Inc., Class A | 9,524 | 2,230,045 |
Keurig Dr Pepper, Inc. | 59,433 | 1,802,603 |
Molson Coors Beverage Co., Class B | 10,965 | 633,448 |
Monster Beverage Corp. * | 43,936 | 2,245,129 |
PepsiCo, Inc. | 81,324 | 13,278,583 |
33,974,566 | ||
Biotechnology — 2.2% | ||
AbbVie, Inc. | 104,276 | 14,721,686 |
Alnylam Pharmaceuticals, Inc. * | 7,387 | 1,121,347 |
Amgen, Inc. | 31,603 | 8,080,887 |
Biogen, Inc. * | 8,558 | 2,032,867 |
BioMarin Pharmaceutical, Inc. * | 11,114 | 905,235 |
Exact Sciences Corp. * | 10,668 | 657,042 |
Gilead Sciences, Inc. | 73,615 | 5,781,722 |
Incyte Corp. * | 10,987 | 592,529 |
Moderna, Inc. * | 19,562 | 1,485,929 |
Neurocrine Biosciences, Inc. * | 5,769 | 640,013 |
Regeneron Pharmaceuticals, Inc. * | 6,307 | 4,918,766 |
Seagen, Inc. * | 8,312 | 1,768,877 |
Vertex Pharmaceuticals, Inc. * | 15,243 | 5,519,643 |
48,226,543 | ||
Broadline Retail — 3.6% | ||
Amazon.com, Inc. * | 536,397 | 71,389,077 |
Coupang, Inc. (South Korea) * | 67,486 | 1,147,262 |
eBay, Inc. | 31,433 | 1,233,116 |
Etsy, Inc. * (a) | 7,272 | 453,046 |
MercadoLibre, Inc. (Brazil) * | 2,726 | 3,382,257 |
77,604,758 | ||
Building Products — 0.4% | ||
Allegion plc | 5,186 | 510,095 |
Carrier Global Corp. | 49,487 | 2,358,550 |
Fortune Brands Innovations, Inc. | 7,496 | 418,277 |
Johnson Controls International plc | 40,195 | 1,970,359 |
106 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Building Products — continued | ||
Lennox International, Inc. | 1,885 | 698,468 |
Masco Corp. | 13,288 | 692,172 |
Owens Corning | 5,305 | 601,428 |
Trane Technologies plc | 13,489 | 2,567,091 |
9,816,440 | ||
Capital Markets — 2.8% | ||
Ameriprise Financial, Inc. | 6,057 | 1,905,350 |
Bank of New York Mellon Corp. (The) | 46,011 | 1,955,467 |
BlackRock, Inc. | 8,287 | 5,073,964 |
Blackstone, Inc. (a) | 41,933 | 3,872,513 |
Carlyle Group, Inc. (The) | 12,758 | 351,355 |
Charles Schwab Corp. (The) | 87,843 | 4,571,350 |
CME Group, Inc. | 21,254 | 4,536,879 |
Coinbase Global, Inc., Class A * (a) | 9,984 | 769,966 |
FactSet Research Systems, Inc. | 2,255 | 973,912 |
Franklin Resources, Inc. | 16,801 | 382,895 |
Goldman Sachs Group, Inc. (The) | 19,479 | 5,914,019 |
Intercontinental Exchange, Inc. | 33,816 | 3,633,191 |
Invesco Ltd. (a) | 26,504 | 343,757 |
KKR & Co., Inc. | 38,238 | 2,118,385 |
LPL Financial Holdings, Inc. | 4,509 | 1,012,361 |
MarketAxess Holdings, Inc. | 2,227 | 476,021 |
Moody's Corp. | 9,321 | 2,870,868 |
Morgan Stanley | 75,378 | 5,338,270 |
MSCI, Inc. | 4,671 | 2,202,610 |
Nasdaq, Inc. | 20,031 | 993,538 |
Northern Trust Corp. | 12,227 | 805,882 |
Raymond James Financial, Inc. | 11,101 | 1,059,479 |
S&P Global, Inc. | 19,220 | 6,713,738 |
SEI Investments Co. | 5,939 | 318,687 |
State Street Corp. | 18,828 | 1,216,854 |
T. Rowe Price Group, Inc. | 13,251 | 1,199,216 |
60,610,527 | ||
Chemicals — 1.6% | ||
Air Products and Chemicals, Inc. | 13,127 | 3,707,590 |
Albemarle Corp. (a) | 6,932 | 878,839 |
Celanese Corp. | 5,910 | 676,754 |
CF Industries Holdings, Inc. | 11,401 | 909,572 |
Corteva, Inc. | 41,934 | 2,018,703 |
Dow, Inc. | 41,535 | 2,007,802 |
DuPont de Nemours, Inc. | 27,120 | 1,976,506 |
Eastman Chemical Co. | 7,002 | 523,259 |
Ecolab, Inc. | 14,987 | 2,513,919 |
INVESTMENTS | SHARES | VALUE($) |
Chemicals — continued | ||
FMC Corp. | 7,371 | 392,137 |
International Flavors & Fragrances, Inc. | 15,078 | 1,030,581 |
Linde plc | 28,827 | 11,016,526 |
LyondellBasell Industries NV, Class A | 15,128 | 1,365,151 |
Mosaic Co. (The) | 19,630 | 637,582 |
PPG Industries, Inc. | 13,912 | 1,707,976 |
Sherwin-Williams Co. (The) | 13,974 | 3,328,747 |
Westlake Corp. | 1,883 | 217,223 |
34,908,867 | ||
Commercial Services & Supplies — 0.5% | ||
Cintas Corp. | 5,111 | 2,591,890 |
Copart, Inc. * | 51,334 | 2,234,056 |
Republic Services, Inc. | 12,146 | 1,803,560 |
Rollins, Inc. | 16,590 | 623,950 |
Waste Management, Inc. | 21,779 | 3,578,943 |
10,832,399 | ||
Communications Equipment — 0.9% | ||
Arista Networks, Inc. * | 14,818 | 2,969,083 |
Cisco Systems, Inc. | 240,738 | 12,549,672 |
F5, Inc. * | 3,503 | 531,020 |
Juniper Networks, Inc. | 18,986 | 511,103 |
Motorola Solutions, Inc. | 9,866 | 2,747,286 |
19,308,164 | ||
Construction & Engineering — 0.1% | ||
Quanta Services, Inc. | 8,579 | 1,433,722 |
Construction Materials — 0.1% | ||
Martin Marietta Materials, Inc. | 3,648 | 1,491,813 |
Vulcan Materials Co. | 7,854 | 1,543,233 |
3,035,046 | ||
Consumer Finance — 0.4% | ||
Ally Financial, Inc. | 16,039 | 387,984 |
American Express Co. | 34,376 | 5,019,927 |
Capital One Financial Corp. | 22,534 | 2,282,469 |
Discover Financial Services | 14,771 | 1,212,404 |
Synchrony Financial | 24,707 | 693,031 |
9,595,815 | ||
Consumer Staples Distribution & Retail — 1.8% | ||
Albertsons Cos., Inc., Class A | 23,804 | 516,547 |
Costco Wholesale Corp. | 26,176 | 14,460,670 |
Dollar General Corp. | 12,953 | 1,541,925 |
Dollar Tree, Inc. * | 12,364 | 1,373,517 |
Kroger Co. (The) | 39,014 | 1,770,065 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 107 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Consumer Staples Distribution & Retail — continued | ||
Sysco Corp. | 29,843 | 1,984,261 |
Target Corp. | 27,265 | 3,020,689 |
Walgreens Boots Alliance, Inc. | 42,325 | 892,211 |
Walmart, Inc. | 84,313 | 13,777,587 |
39,337,472 | ||
Containers & Packaging — 0.2% | ||
Amcor plc | 86,932 | 772,826 |
Avery Dennison Corp. | 4,758 | 828,225 |
Ball Corp. | 18,610 | 896,072 |
Crown Holdings, Inc. | 7,124 | 574,194 |
International Paper Co. | 20,436 | 689,306 |
Packaging Corp. of America | 5,310 | 812,696 |
WestRock Co. | 15,137 | 543,872 |
5,117,191 | ||
Distributors — 0.1% | ||
Genuine Parts Co. | 8,292 | 1,068,507 |
LKQ Corp. | 15,802 | 694,024 |
Pool Corp. | 2,307 | 728,481 |
2,491,012 | ||
Diversified REITs — 0.0% ^ | ||
WP Carey, Inc. | 12,639 | 678,082 |
Diversified Telecommunication Services — 0.7% | ||
AT&T, Inc. | 422,339 | 6,504,021 |
Verizon Communications, Inc. | 248,355 | 8,724,711 |
15,228,732 | ||
Electric Utilities — 1.6% | ||
Alliant Energy Corp. | 14,931 | 728,483 |
American Electric Power Co., Inc. | 30,438 | 2,299,286 |
Avangrid, Inc. | 4,111 | 122,796 |
Constellation Energy Corp. | 18,999 | 2,145,367 |
Duke Energy Corp. | 45,532 | 4,047,339 |
Edison International | 22,641 | 1,427,741 |
Entergy Corp. | 12,496 | 1,194,493 |
Evergy, Inc. | 13,564 | 666,535 |
Eversource Energy | 20,626 | 1,109,473 |
Exelon Corp. | 58,795 | 2,289,477 |
FirstEnergy Corp. | 30,487 | 1,085,337 |
NextEra Energy, Inc. | 119,552 | 6,969,882 |
NRG Energy, Inc. | 13,530 | 573,401 |
PG&E Corp. * | 123,542 | 2,013,735 |
Pinnacle West Capital Corp. | 6,698 | 496,858 |
PPL Corp. | 43,540 | 1,069,778 |
INVESTMENTS | SHARES | VALUE($) |
Electric Utilities — continued | ||
Southern Co. (The) | 64,430 | 4,336,139 |
Xcel Energy, Inc. | 32,578 | 1,930,898 |
34,507,018 | ||
Electrical Equipment — 0.6% | ||
AMETEK, Inc. | 13,634 | 1,919,258 |
Eaton Corp. plc | 23,573 | 4,901,063 |
Emerson Electric Co. | 33,757 | 3,003,360 |
Hubbell, Inc. | 3,163 | 854,327 |
Rockwell Automation, Inc. | 6,788 | 1,783,954 |
12,461,962 | ||
Electronic Equipment, Instruments & Components — 0.6% | ||
Amphenol Corp., Class A | 35,236 | 2,838,260 |
CDW Corp. | 7,922 | 1,587,569 |
Cognex Corp. | 10,182 | 366,450 |
Corning, Inc. | 45,357 | 1,213,753 |
Flex Ltd. * | 26,388 | 678,699 |
Keysight Technologies, Inc. * | 10,534 | 1,285,675 |
TE Connectivity Ltd. | 18,545 | 2,185,528 |
Teledyne Technologies, Inc. * | 2,783 | 1,042,484 |
Trimble, Inc. * | 14,665 | 691,162 |
Zebra Technologies Corp., Class A * | 3,030 | 634,573 |
12,524,153 | ||
Energy Equipment & Services — 0.4% | ||
Baker Hughes Co. | 59,643 | 2,052,912 |
Halliburton Co. | 53,083 | 2,088,285 |
Schlumberger NV | 83,953 | 4,672,824 |
8,814,021 | ||
Entertainment — 1.1% | ||
Electronic Arts, Inc. | 14,561 | 1,802,506 |
Liberty Media Corp-Liberty Formula One, Class A * | 1,411 | 81,203 |
Liberty Media Corp-Liberty Formula One, Class C * | 12,293 | 795,234 |
Live Nation Entertainment, Inc. * | 8,370 | 669,767 |
Netflix, Inc. * | 26,176 | 10,776,398 |
ROBLOX Corp., Class A * | 28,453 | 905,090 |
Take-Two Interactive Software, Inc. * | 9,329 | 1,247,754 |
Walt Disney Co. (The) * | 108,093 | 8,819,308 |
25,097,260 | ||
Financial Services — 4.3% | ||
Apollo Global Management, Inc. | 25,787 | 1,996,945 |
Berkshire Hathaway, Inc., Class B * | 107,740 | 36,774,894 |
108 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Financial Services — continued | ||
Block, Inc. * (a) | 32,456 | 1,306,354 |
Corebridge Financial, Inc. | 9,769 | 195,380 |
Equitable Holdings, Inc. | 19,284 | 512,376 |
Fidelity National Information Services, Inc. | 35,005 | 1,719,095 |
Fiserv, Inc. * | 36,009 | 4,096,024 |
FleetCor Technologies, Inc. * | 4,374 | 984,894 |
Global Payments, Inc. | 15,364 | 1,631,964 |
Jack Henry & Associates, Inc. | 4,300 | 606,257 |
Mastercard, Inc., Class A | 49,151 | 18,497,979 |
PayPal Holdings, Inc. * | 64,864 | 3,359,955 |
Visa, Inc., Class A (a) | 94,918 | 22,315,222 |
Voya Financial, Inc. | 6,251 | 417,379 |
94,414,718 | ||
Food Products — 0.9% | ||
Archer-Daniels-Midland Co. | 31,672 | 2,266,765 |
Bunge Ltd. | 8,895 | 942,692 |
Campbell Soup Co. | 11,621 | 469,605 |
Conagra Brands, Inc. | 28,232 | 772,428 |
General Mills, Inc. | 34,572 | 2,255,477 |
Hershey Co. (The) | 8,849 | 1,657,860 |
Hormel Foods Corp. (a) | 17,108 | 556,865 |
J M Smucker Co. (The) | 6,027 | 686,114 |
Kellogg Co. | 15,573 | 785,969 |
Kraft Heinz Co. (The) | 47,169 | 1,483,937 |
Lamb Weston Holdings, Inc. | 8,614 | 773,537 |
McCormick & Co., Inc. (Non-Voting) | 14,837 | 948,084 |
Mondelez International, Inc., Class A | 80,366 | 5,321,033 |
Tyson Foods, Inc., Class A | 16,867 | 781,786 |
19,702,152 | ||
Gas Utilities — 0.0% ^ | ||
Atmos Energy Corp. | 8,768 | 943,963 |
Ground Transportation — 1.0% | ||
CSX Corp. | 118,522 | 3,537,882 |
JB Hunt Transport Services, Inc. | 4,819 | 828,242 |
Norfolk Southern Corp. | 13,409 | 2,558,303 |
Old Dominion Freight Line, Inc. | 5,291 | 1,992,908 |
Uber Technologies, Inc. * | 120,722 | 5,224,848 |
Union Pacific Corp. | 36,000 | 7,473,960 |
21,616,143 | ||
Health Care Equipment & Supplies — 2.4% | ||
Abbott Laboratories | 102,523 | 9,693,550 |
Align Technology, Inc. * | 4,202 | 775,647 |
Baxter International, Inc. | 29,918 | 970,241 |
INVESTMENTS | SHARES | VALUE($) |
Health Care Equipment & Supplies — continued | ||
Becton Dickinson & Co. | 17,142 | 4,333,155 |
Boston Scientific Corp. * | 86,502 | 4,428,037 |
Cooper Cos., Inc. (The) | 2,924 | 911,557 |
Dentsply Sirona, Inc. | 12,511 | 380,459 |
Dexcom, Inc. * | 22,917 | 2,035,717 |
Edwards Lifesciences Corp. * | 35,911 | 2,288,249 |
GE HealthCare Technologies, Inc. | 23,108 | 1,538,300 |
Hologic, Inc. * | 14,469 | 957,414 |
IDEXX Laboratories, Inc. * | 4,899 | 1,957,003 |
Insulet Corp. * | 4,123 | 546,586 |
Intuitive Surgical, Inc. * | 20,757 | 5,442,901 |
Medtronic plc | 78,637 | 5,548,627 |
ResMed, Inc. | 8,680 | 1,225,790 |
STERIS plc | 5,827 | 1,223,553 |
Stryker Corp. | 19,972 | 5,396,834 |
Teleflex, Inc. | 2,778 | 513,235 |
Zimmer Biomet Holdings, Inc. | 12,341 | 1,288,524 |
51,455,379 | ||
Health Care Providers & Services — 3.0% | ||
agilon health, Inc. * (a) | 17,729 | 319,122 |
Cardinal Health, Inc. | 15,040 | 1,368,640 |
Cencora, Inc. | 9,848 | 1,823,357 |
Centene Corp. * | 31,984 | 2,206,256 |
Cigna Group (The) | 17,482 | 5,405,434 |
CVS Health Corp. | 75,872 | 5,235,927 |
DaVita, Inc. * | 3,176 | 245,282 |
Elevance Health, Inc. | 13,920 | 6,265,253 |
HCA Healthcare, Inc. | 11,895 | 2,689,935 |
Henry Schein, Inc. * | 7,710 | 500,996 |
Humana, Inc. | 7,323 | 3,834,982 |
Laboratory Corp. of America Holdings | 5,233 | 1,045,187 |
McKesson Corp. | 7,972 | 3,630,130 |
Molina Healthcare, Inc. * | 3,445 | 1,147,013 |
Quest Diagnostics, Inc. | 6,625 | 861,913 |
UnitedHealth Group, Inc. | 54,725 | 29,308,521 |
Universal Health Services, Inc., Class B | 3,667 | 461,639 |
66,349,587 | ||
Health Care REITs — 0.2% | ||
Healthpeak Properties, Inc. | 32,318 | 502,545 |
Ventas, Inc. | 23,769 | 1,009,231 |
Welltower, Inc. | 30,644 | 2,562,145 |
4,073,921 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 109 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Health Care Technology — 0.1% | ||
Veeva Systems, Inc., Class A * | 8,610 | 1,659,233 |
Hotel & Resort REITs — 0.0% ^ | ||
Host Hotels & Resorts, Inc. | 42,041 | 650,795 |
Hotels, Restaurants & Leisure — 2.1% | ||
Airbnb, Inc., Class A * | 25,192 | 2,979,962 |
Aramark | 15,425 | 415,395 |
Booking Holdings, Inc. * | 2,112 | 5,891,551 |
Caesars Entertainment, Inc. * | 12,718 | 507,321 |
Carnival Corp. * | 59,509 | 681,973 |
Chipotle Mexican Grill, Inc. * | 1,632 | 3,169,670 |
Darden Restaurants, Inc. | 7,137 | 1,038,648 |
Domino's Pizza, Inc. | 2,078 | 704,421 |
DoorDash, Inc., Class A * | 17,725 | 1,328,489 |
Expedia Group, Inc. * | 8,142 | 775,851 |
Hilton Worldwide Holdings, Inc. | 15,452 | 2,341,442 |
Las Vegas Sands Corp. | 19,423 | 921,816 |
Marriott International, Inc., Class A | 14,804 | 2,791,442 |
McDonald's Corp. | 43,057 | 11,288,254 |
MGM Resorts International | 16,586 | 579,183 |
Royal Caribbean Cruises Ltd. * | 13,922 | 1,179,611 |
Starbucks Corp. | 67,663 | 6,241,235 |
Vail Resorts, Inc. | 2,278 | 483,505 |
Wynn Resorts Ltd. | 5,722 | 502,277 |
Yum! Brands, Inc. | 16,557 | 2,001,079 |
45,823,125 | ||
Household Durables — 0.3% | ||
DR Horton, Inc. | 17,985 | 1,877,634 |
Garmin Ltd. | 9,052 | 928,101 |
Lennar Corp., Class A | 14,920 | 1,591,666 |
Lennar Corp., Class B | 779 | 76,817 |
NVR, Inc. * | 189 | 1,022,985 |
PulteGroup, Inc. | 12,959 | 953,653 |
Whirlpool Corp. | 3,243 | 339,088 |
6,789,944 | ||
Household Products — 1.3% | ||
Church & Dwight Co., Inc. | 14,534 | 1,321,722 |
Clorox Co. (The) | 7,319 | 861,446 |
Colgate-Palmolive Co. | 48,842 | 3,669,011 |
Kimberly-Clark Corp. | 19,983 | 2,390,766 |
Procter & Gamble Co. (The) | 139,258 | 20,892,878 |
29,135,823 |
INVESTMENTS | SHARES | VALUE($) |
Independent Power and Renewable Electricity Producers — 0.1% | ||
AES Corp. (The) | 39,564 | 589,503 |
Vistra Corp. | 20,408 | 667,750 |
1,257,253 | ||
Industrial Conglomerates — 0.8% | ||
3M Co. | 32,604 | 2,965,334 |
General Electric Co. | 64,293 | 6,984,149 |
Honeywell International, Inc. | 39,225 | 7,188,373 |
17,137,856 | ||
Industrial REITs — 0.2% | ||
Prologis, Inc. | 54,583 | 5,499,237 |
Insurance — 2.3% | ||
Aflac, Inc. (a) | 31,933 | 2,494,287 |
Allstate Corp. (The) | 15,455 | 1,980,249 |
American Financial Group, Inc. | 3,913 | 427,926 |
American International Group, Inc. | 42,058 | 2,578,576 |
Aon plc, Class A (a) | 11,987 | 3,708,778 |
Arch Capital Group Ltd. * | 22,031 | 1,909,647 |
Arthur J Gallagher & Co. | 12,731 | 2,998,023 |
Brown & Brown, Inc. | 13,905 | 965,285 |
Chubb Ltd. | 24,264 | 5,207,540 |
Cincinnati Financial Corp. | 9,266 | 923,542 |
Everest Group Ltd. | 2,559 | 1,012,391 |
Fidelity National Financial, Inc. | 15,270 | 596,904 |
Globe Life, Inc. | 5,138 | 597,858 |
Hartford Financial Services Group, Inc. (The) | 18,063 | 1,326,727 |
Loews Corp. | 10,925 | 699,309 |
Markel Group, Inc. * | 780 | 1,147,006 |
Marsh & McLennan Cos., Inc. | 29,186 | 5,535,125 |
MetLife, Inc. | 37,322 | 2,239,693 |
Principal Financial Group, Inc. | 13,140 | 889,315 |
Progressive Corp. (The) | 34,580 | 5,466,752 |
Prudential Financial, Inc. | 21,443 | 1,960,748 |
Reinsurance Group of America, Inc. | 3,914 | 585,026 |
Travelers Cos., Inc. (The) | 13,520 | 2,263,789 |
Willis Towers Watson plc | 6,196 | 1,461,574 |
WR Berkley Corp. | 12,021 | 810,456 |
49,786,526 | ||
Interactive Media & Services — 5.6% | ||
Alphabet, Inc., Class A * | 350,496 | 43,489,544 |
Alphabet, Inc., Class C * | 298,155 | 37,358,822 |
Match Group, Inc. * | 16,423 | 568,236 |
Meta Platforms, Inc., Class A * | 131,307 | 39,558,860 |
Pinterest, Inc., Class A * | 34,380 | 1,027,274 |
110 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Interactive Media & Services — continued | ||
Snap, Inc., Class A * (a) | 59,836 | 598,958 |
ZoomInfo Technologies, Inc. * | 18,023 | 233,578 |
122,835,272 | ||
IT Services — 1.5% | ||
Accenture plc, Class A | 37,270 | 11,072,544 |
Akamai Technologies, Inc. * | 8,984 | 928,317 |
Cloudflare, Inc., Class A * (a) | 17,285 | 979,887 |
Cognizant Technology Solutions Corp., Class A | 29,839 | 1,923,720 |
EPAM Systems, Inc. * | 3,425 | 745,177 |
Gartner, Inc. * | 4,656 | 1,545,978 |
GoDaddy, Inc., Class A * | 8,673 | 635,124 |
International Business Machines Corp. | 53,816 | 7,783,946 |
MongoDB, Inc. * | 4,167 | 1,435,907 |
Okta, Inc. * | 9,162 | 617,611 |
Snowflake, Inc., Class A * | 19,249 | 2,793,607 |
Twilio, Inc., Class A * | 10,694 | 548,175 |
VeriSign, Inc. * | 5,299 | 1,057,998 |
32,067,991 | ||
Leisure Products — 0.0% ^ | ||
Hasbro, Inc. | 7,701 | 347,700 |
Life Sciences Tools & Services — 1.3% | ||
Agilent Technologies, Inc. | 17,447 | 1,803,496 |
Avantor, Inc. * | 39,929 | 695,963 |
Bio-Rad Laboratories, Inc., Class A * | 1,232 | 339,145 |
Bio-Techne Corp. | 9,300 | 508,059 |
Charles River Laboratories International, Inc. * | 3,026 | 509,457 |
Danaher Corp. | 38,818 | 7,453,832 |
Illumina, Inc. * | 9,350 | 1,023,077 |
IQVIA Holdings, Inc. * | 10,821 | 1,956,761 |
Mettler-Toledo International, Inc. * | 1,289 | 1,269,923 |
Revvity, Inc. | 7,337 | 607,871 |
Thermo Fisher Scientific, Inc. | 22,795 | 10,138,532 |
Waters Corp. * | 3,491 | 832,708 |
West Pharmaceutical Services, Inc. | 4,368 | 1,390,291 |
28,529,115 | ||
Machinery — 1.6% | ||
Caterpillar, Inc. | 30,135 | 6,812,017 |
Cummins, Inc. | 8,362 | 1,808,701 |
Deere & Co. | 16,109 | 5,885,584 |
Dover Corp. | 8,260 | 1,073,387 |
Fortive Corp. | 20,796 | 1,357,563 |
INVESTMENTS | SHARES | VALUE($) |
Machinery — continued | ||
IDEX Corp. | 4,469 | 855,411 |
Illinois Tool Works, Inc. | 16,254 | 3,642,846 |
Ingersoll Rand, Inc. | 23,886 | 1,449,402 |
Otis Worldwide Corp. | 24,323 | 1,877,979 |
PACCAR, Inc. | 30,880 | 2,548,526 |
Parker-Hannifin Corp. | 7,578 | 2,795,600 |
Pentair plc | 9,755 | 566,961 |
Snap-on, Inc. | 3,122 | 805,289 |
Stanley Black & Decker, Inc. (a) | 9,056 | 770,213 |
Westinghouse Air Brake Technologies Corp. | 10,579 | 1,121,585 |
Xylem, Inc. | 14,231 | 1,331,168 |
34,702,232 | ||
Media — 0.9% | ||
Charter Communications, Inc., Class A * (a) | 6,008 | 2,420,022 |
Comcast Corp., Class A | 243,136 | 10,039,085 |
Fox Corp., Class A | 14,987 | 455,455 |
Fox Corp., Class B | 7,788 | 217,363 |
Interpublic Group of Cos., Inc. (The) | 22,736 | 645,702 |
Liberty Broadband Corp., Class A * | 983 | 81,904 |
Liberty Broadband Corp., Class C * | 6,774 | 564,342 |
Liberty Media Corp-Liberty SiriusXM * | 8,782 | 215,598 |
Liberty Media Corp-Liberty SiriusXM, Class A * | 4,409 | 107,976 |
News Corp., Class A | 22,505 | 465,403 |
News Corp., Class B | 6,826 | 146,349 |
Omnicom Group, Inc. | 11,669 | 874,125 |
Paramount Global, Class A (a) | 554 | 7,701 |
Paramount Global, Class B (a) | 28,484 | 309,906 |
Sirius XM Holdings, Inc. (a) | 38,591 | 165,170 |
Trade Desk, Inc. (The), Class A * | 26,361 | 1,870,577 |
18,586,678 | ||
Metals & Mining — 0.4% | ||
Freeport-McMoRan, Inc. | 84,697 | 2,861,065 |
Newmont Corp. | 68,077 | 2,550,845 |
Nucor Corp. | 14,689 | 2,170,887 |
Southern Copper Corp. (Mexico) | 5,027 | 356,414 |
Steel Dynamics, Inc. | 9,199 | 979,786 |
8,918,997 | ||
Mortgage Real Estate Investment Trusts (REITs) — 0.0% ^ | ||
Annaly Capital Management, Inc. | 29,183 | 455,547 |
Multi-Utilities — 0.7% | ||
Ameren Corp. | 15,523 | 1,175,246 |
CenterPoint Energy, Inc. | 37,292 | 1,002,409 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 111 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Multi-Utilities — continued | ||
CMS Energy Corp. | 17,236 | 936,604 |
Consolidated Edison, Inc. | 20,373 | 1,788,546 |
Dominion Energy, Inc. | 49,437 | 1,993,300 |
DTE Energy Co. | 12,179 | 1,173,812 |
NiSource, Inc. | 24,410 | 614,156 |
Public Service Enterprise Group, Inc. | 29,485 | 1,817,750 |
Sempra | 37,173 | 2,603,225 |
WEC Energy Group, Inc. | 18,632 | 1,516,459 |
14,621,507 | ||
Office REITs — 0.1% | ||
Alexandria Real Estate Equities, Inc. | 9,200 | 856,796 |
Boston Properties, Inc. | 8,528 | 456,845 |
1,313,641 | ||
Oil, Gas & Consumable Fuels — 4.1% | ||
APA Corp. | 18,147 | 720,799 |
Cheniere Energy, Inc. | 14,219 | 2,366,326 |
Chevron Corp. | 104,821 | 15,275,564 |
ConocoPhillips | 70,748 | 8,404,862 |
Coterra Energy, Inc. | 44,753 | 1,230,708 |
Devon Energy Corp. | 37,855 | 1,762,907 |
Diamondback Energy, Inc. | 10,561 | 1,693,140 |
EOG Resources, Inc. | 34,402 | 4,343,253 |
EQT Corp. | 21,365 | 905,449 |
Exxon Mobil Corp. | 235,106 | 24,885,970 |
Hess Corp. | 16,322 | 2,356,897 |
Kinder Morgan, Inc. | 114,515 | 1,855,143 |
Marathon Oil Corp. | 35,782 | 977,206 |
Marathon Petroleum Corp. | 23,622 | 3,572,828 |
Occidental Petroleum Corp. | 39,199 | 2,422,890 |
ONEOK, Inc. | 34,400 | 2,242,880 |
Phillips 66 | 26,311 | 3,001,296 |
Pioneer Natural Resources Co. | 13,775 | 3,292,225 |
Targa Resources Corp. | 13,217 | 1,105,073 |
Texas Pacific Land Corp. | 371 | 684,847 |
Valero Energy Corp. | 20,860 | 2,649,220 |
Williams Cos., Inc. (The) | 71,856 | 2,471,846 |
88,221,329 | ||
Passenger Airlines — 0.1% | ||
Delta Air Lines, Inc. | 38,012 | 1,187,875 |
Southwest Airlines Co. | 35,188 | 782,229 |
United Airlines Holdings, Inc. * | 19,381 | 678,529 |
2,648,633 |
INVESTMENTS | SHARES | VALUE($) |
Personal Care Products — 0.1% | ||
Estee Lauder Cos., Inc. (The), Class A | 13,701 | 1,765,648 |
Pharmaceuticals — 3.9% | ||
Bristol-Myers Squibb Co. | 123,418 | 6,359,730 |
Catalent, Inc. * | 10,645 | 366,082 |
Eli Lilly & Co. | 47,112 | 26,096,750 |
Jazz Pharmaceuticals plc * | 3,725 | 473,149 |
Johnson & Johnson | 142,251 | 21,101,513 |
Merck & Co., Inc. | 149,910 | 15,395,757 |
Pfizer, Inc. | 333,543 | 10,193,074 |
Royalty Pharma plc, Class A | 22,802 | 612,690 |
Viatris, Inc. | 70,866 | 630,707 |
Zoetis, Inc. | 27,193 | 4,269,301 |
85,498,753 | ||
Professional Services — 0.8% | ||
Automatic Data Processing, Inc. | 24,337 | 5,310,820 |
Booz Allen Hamilton Holding Corp. | 7,737 | 927,898 |
Broadridge Financial Solutions, Inc. | 6,977 | 1,190,555 |
Ceridian HCM Holding, Inc. * (a) | 9,194 | 588,508 |
Equifax, Inc. | 7,255 | 1,230,230 |
Jacobs Solutions, Inc. | 7,440 | 991,752 |
Leidos Holdings, Inc. | 8,114 | 804,260 |
Paychex, Inc. | 18,958 | 2,105,286 |
Paycom Software, Inc. | 2,909 | 712,618 |
Paylocity Holding Corp. * | 2,539 | 455,497 |
SS&C Technologies Holdings, Inc. | 12,750 | 640,688 |
TransUnion (a) | 11,422 | 501,197 |
Verisk Analytics, Inc. | 8,569 | 1,948,248 |
17,407,557 | ||
Real Estate Management & Development — 0.2% | ||
CBRE Group, Inc., Class A * | 18,307 | 1,269,407 |
CoStar Group, Inc. * | 24,125 | 1,771,016 |
Zillow Group, Inc., Class A * | 3,110 | 110,498 |
Zillow Group, Inc., Class C * | 9,334 | 338,358 |
3,489,279 | ||
Residential REITs — 0.4% | ||
AvalonBay Communities, Inc. | 8,384 | 1,389,564 |
Camden Property Trust | 6,308 | 535,423 |
Equity LifeStyle Properties, Inc. | 11,004 | 724,063 |
Equity Residential | 20,373 | 1,127,238 |
Essex Property Trust, Inc. | 3,796 | 812,040 |
Invitation Homes, Inc. | 33,984 | 1,008,985 |
Mid-America Apartment Communities, Inc. | 6,893 | 814,408 |
112 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Residential REITs — continued | ||
Sun Communities, Inc. | 7,353 | 817,948 |
UDR, Inc. | 17,907 | 569,622 |
7,799,291 | ||
Retail REITs — 0.3% | ||
Federal Realty Investment Trust | 4,329 | 394,762 |
Kimco Realty Corp. | 36,615 | 656,873 |
Realty Income Corp. | 41,877 | 1,984,132 |
Regency Centers Corp. | 9,709 | 585,064 |
Simon Property Group, Inc. | 19,324 | 2,123,515 |
5,744,346 | ||
Semiconductors & Semiconductor Equipment — 7.0% | ||
Advanced Micro Devices, Inc. * | 95,444 | 9,401,234 |
Analog Devices, Inc. | 29,618 | 4,659,800 |
Applied Materials, Inc. | 49,610 | 6,565,884 |
Broadcom, Inc. | 24,377 | 20,510,077 |
Enphase Energy, Inc. * (a) | 8,056 | 641,096 |
Entegris, Inc. | 8,864 | 780,387 |
First Solar, Inc. * | 6,312 | 899,144 |
Intel Corp. | 247,415 | 9,030,648 |
KLA Corp. | 8,077 | 3,793,767 |
Lam Research Corp. | 7,879 | 4,634,585 |
Marvell Technology, Inc. | 50,805 | 2,399,012 |
Microchip Technology, Inc. | 32,160 | 2,292,686 |
Micron Technology, Inc. | 64,705 | 4,326,823 |
Monolithic Power Systems, Inc. | 2,824 | 1,247,474 |
NVIDIA Corp. | 145,920 | 59,506,176 |
NXP Semiconductors NV (China) | 15,226 | 2,625,419 |
ON Semiconductor Corp. * | 25,491 | 1,596,756 |
Qorvo, Inc. * | 5,784 | 505,637 |
QUALCOMM, Inc. | 65,927 | 7,185,384 |
Skyworks Solutions, Inc. | 9,413 | 816,484 |
SolarEdge Technologies, Inc. * (a) | 3,344 | 253,977 |
Teradyne, Inc. (a) | 9,101 | 757,840 |
Texas Instruments, Inc. | 53,640 | 7,617,416 |
152,047,706 | ||
Software — 11.2% | ||
Adobe, Inc. * | 26,931 | 14,328,908 |
ANSYS, Inc. * | 5,129 | 1,427,195 |
Aspen Technology, Inc. * | 1,677 | 298,087 |
Atlassian Corp., Class A * | 8,978 | 1,621,786 |
Autodesk, Inc. * | 12,627 | 2,495,474 |
Bentley Systems, Inc., Class B | 13,554 | 659,267 |
Bill Holdings, Inc. * (a) | 5,714 | 521,631 |
INVESTMENTS | SHARES | VALUE($) |
Software — continued | ||
Cadence Design Systems, Inc. * | 16,058 | 3,851,511 |
Crowdstrike Holdings, Inc., Class A * | 13,242 | 2,340,788 |
Datadog, Inc., Class A * | 17,672 | 1,439,738 |
DocuSign, Inc. * | 11,958 | 464,927 |
Dynatrace, Inc. * | 14,031 | 627,326 |
Fair Isaac Corp. * | 1,462 | 1,236,662 |
Fortinet, Inc. * | 38,511 | 2,201,674 |
Gen Digital, Inc. | 33,247 | 553,895 |
HubSpot, Inc. * | 2,953 | 1,251,393 |
Intuit, Inc. | 16,549 | 8,190,928 |
Microsoft Corp. | 438,928 | 148,405,946 |
Oracle Corp. | 93,000 | 9,616,200 |
Palantir Technologies, Inc., Class A * (a) | 112,479 | 1,664,689 |
Palo Alto Networks, Inc. * | 18,065 | 4,390,156 |
PTC, Inc. * | 7,018 | 985,468 |
Roper Technologies, Inc. | 6,305 | 3,080,434 |
Salesforce, Inc. * | 57,544 | 11,556,561 |
ServiceNow, Inc. * | 12,053 | 7,013,038 |
Splunk, Inc. * | 9,005 | 1,325,176 |
Synopsys, Inc. * | 8,994 | 4,222,143 |
Tyler Technologies, Inc. * | 2,482 | 925,538 |
Unity Software, Inc. * (a) | 14,275 | 362,157 |
VMware, Inc., Class A * | 12,939 | 1,884,565 |
Workday, Inc., Class A * | 12,156 | 2,573,547 |
Zoom Video Communications, Inc., Class A * | 14,824 | 889,143 |
Zscaler, Inc. * | 5,172 | 820,745 |
243,226,696 | ||
Specialized REITs — 1.0% | ||
American Tower Corp. | 27,542 | 4,907,709 |
Crown Castle, Inc. | 25,616 | 2,381,776 |
Digital Realty Trust, Inc. | 17,883 | 2,223,930 |
Equinix, Inc. | 5,532 | 4,036,368 |
Extra Space Storage, Inc. (a) | 12,486 | 1,293,425 |
Iron Mountain, Inc. | 17,243 | 1,018,544 |
Public Storage | 9,346 | 2,230,983 |
SBA Communications Corp. | 6,402 | 1,335,649 |
VICI Properties, Inc. | 59,872 | 1,670,429 |
Weyerhaeuser Co. | 43,172 | 1,238,605 |
22,337,418 | ||
Specialty Retail — 2.0% | ||
Advance Auto Parts, Inc. | 3,511 | 182,677 |
AutoZone, Inc. * | 1,074 | 2,660,438 |
Bath & Body Works, Inc. | 13,519 | 400,838 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 113 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Specialty Retail — continued | ||
Best Buy Co., Inc. | 11,474 | 766,693 |
Burlington Stores, Inc. * | 3,837 | 464,392 |
CarMax, Inc. * (a) | 9,344 | 570,825 |
Home Depot, Inc. (The) | 59,395 | 16,909,162 |
Lowe's Cos., Inc. | 34,618 | 6,597,152 |
O'Reilly Automotive, Inc. * | 3,566 | 3,317,949 |
Ross Stores, Inc. | 20,126 | 2,334,012 |
TJX Cos., Inc. (The) | 67,897 | 5,979,689 |
Tractor Supply Co. (a) | 6,426 | 1,237,391 |
Ulta Beauty, Inc. * | 2,941 | 1,121,433 |
42,542,651 | ||
Technology Hardware, Storage & Peripherals — 7.1% | ||
Apple, Inc. | 868,203 | 148,263,026 |
Dell Technologies, Inc., Class C | 14,971 | 1,001,710 |
Hewlett Packard Enterprise Co. | 76,296 | 1,173,433 |
HP, Inc. | 51,259 | 1,349,650 |
NetApp, Inc. | 12,459 | 906,766 |
Seagate Technology Holdings plc | 11,397 | 777,845 |
Western Digital Corp. * | 18,903 | 758,955 |
154,231,385 | ||
Textiles, Apparel & Luxury Goods — 0.5% | ||
Lululemon Athletica, Inc. * | 6,833 | 2,688,649 |
NIKE, Inc., Class B | 72,368 | 7,437,260 |
Tapestry, Inc. | 13,697 | 377,489 |
VF Corp. (a) | 19,529 | 287,662 |
10,791,060 | ||
Tobacco — 0.6% | ||
Altria Group, Inc. | 104,841 | 4,211,463 |
Philip Morris International, Inc. | 91,708 | 8,176,685 |
12,388,148 | ||
Trading Companies & Distributors — 0.4% | ||
Fastenal Co. | 33,747 | 1,968,800 |
Ferguson plc | 12,067 | 1,812,463 |
United Rentals, Inc. | 4,034 | 1,638,893 |
Watsco, Inc. (a) | 1,977 | 689,756 |
WW Grainger, Inc. | 2,634 | 1,922,372 |
8,032,284 | ||
Water Utilities — 0.1% | ||
American Water Works Co., Inc. | 11,501 | 1,353,093 |
Veralto Corp. * | 1 | 69 |
1,353,162 |
INVESTMENTS | SHARES | VALUE($) |
Wireless Telecommunication Services — 0.2% | ||
T-Mobile US, Inc. * | 30,580 | 4,399,239 |
Total Common Stocks (Cost $2,156,426,494) | 2,154,991,230 | |
INVESTMENTS | NO. OF RIGHTS | |
Rights — 0.0% ^ | ||
Health Care Equipment & Supplies — 0.0% ^ | ||
ABIOMED, Inc., CVR ‡ * (Cost $1,764) | 1,730 | 1,765 |
SHARES | ||
Short-Term Investments — 2.7% | ||
Investment Companies — 0.7% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (c) (d) (Cost $15,413,521) | 15,413,521 | 15,413,521 |
Investment of Cash Collateral from Securities Loaned — 2.0% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.53% (c) (d) | 39,990,202 | 39,998,200 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (c) (d) | 4,560,264 | 4,560,264 |
Total Investment of Cash Collateral from Securities Loaned (Cost $44,559,764) | 44,558,464 | |
Total Short-Term Investments (Cost $59,973,285) | 59,971,985 | |
Total Investments — 101.9% (Cost $2,216,401,543) | 2,214,964,980 | |
Liabilities in Excess of Other Assets — (1.9)% | (41,926,481 ) | |
NET ASSETS — 100.0% | 2,173,038,499 |
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. | |
* | Non-income producing security. | |
(a) | The security or a portion of this security is on loan at October 31, 2023. The total value of securities on loan at October 31, 2023 is $44,049,242. |
114 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
(b) | Investment in affiliate. This security is included in an index which the Fund, as an index fund, tracks. | |
(c) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(d) | The rate shown is the current yield as of October 31, 2023. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 80 | 12/15/2023 | USD | 16,847,000 | (937,765 ) |
Abbreviations | |
USD | United States Dollar |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 115 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 98.7% | ||
Aerospace & Defense — 1.7% | ||
Axon Enterprise, Inc. * | 35,826 | 7,326,059 |
BWX Technologies, Inc. | 46,646 | 3,464,865 |
Curtiss-Wright Corp. | 19,509 | 3,878,584 |
Hexcel Corp. | 43,058 | 2,666,151 |
Leonardo DRS, Inc. * | 26,730 | 509,741 |
Parsons Corp. * | 20,846 | 1,178,841 |
Spirit AeroSystems Holdings, Inc., Class A * (a) | 53,661 | 1,212,739 |
Woodward, Inc. | 30,813 | 3,842,381 |
24,079,361 | ||
Air Freight & Logistics — 0.2% | ||
GXO Logistics, Inc. * | 60,628 | 3,062,320 |
Automobile Components — 1.0% | ||
Adient plc * | 47,748 | 1,608,630 |
Autoliv, Inc. (Sweden) | 38,750 | 3,551,437 |
Fox Factory Holding Corp. * | 21,595 | 1,759,345 |
Gentex Corp. | 118,989 | 3,412,605 |
Goodyear Tire & Rubber Co. (The) * | 144,536 | 1,719,978 |
Visteon Corp. * | 14,374 | 1,654,879 |
13,706,874 | ||
Automobiles — 0.3% | ||
Harley-Davidson, Inc. | 65,748 | 1,765,334 |
Thor Industries, Inc. (a) | 27,172 | 2,389,234 |
4,154,568 | ||
Banks — 4.7% | ||
Bank OZK (a) | 53,630 | 1,920,490 |
BOK Financial Corp. | 14,216 | 931,432 |
Cadence Bank | 93,103 | 1,971,922 |
Comerica, Inc. | 67,166 | 2,646,340 |
Commerce Bancshares, Inc. | 57,864 | 2,537,915 |
Cullen/Frost Bankers, Inc. | 32,688 | 2,974,281 |
First Citizens BancShares, Inc., Class A | 6,077 | 8,390,757 |
First Financial Bankshares, Inc. (a) | 65,483 | 1,574,866 |
First Horizon Corp. | 284,838 | 3,062,009 |
FNB Corp. | 182,937 | 1,955,597 |
Glacier Bancorp, Inc. (a) | 56,525 | 1,706,490 |
Hancock Whitney Corp. | 43,902 | 1,511,546 |
Home BancShares, Inc. (a) | 96,061 | 1,964,447 |
New York Community Bancorp, Inc. | 368,335 | 3,491,816 |
Old National Bancorp | 149,150 | 2,043,355 |
Pinnacle Financial Partners, Inc. | 39,126 | 2,439,897 |
Popular, Inc. (Puerto Rico) | 36,764 | 2,391,131 |
Prosperity Bancshares, Inc. | 47,779 | 2,605,867 |
INVESTMENTS | SHARES | VALUE($) |
Banks — continued | ||
SouthState Corp. | 38,760 | 2,562,036 |
Synovus Financial Corp. | 74,532 | 1,943,049 |
UMB Financial Corp. | 22,263 | 1,396,335 |
United Bankshares, Inc. | 68,776 | 1,955,989 |
Valley National Bancorp | 217,386 | 1,691,263 |
Webster Financial Corp. | 88,328 | 3,353,814 |
Western Alliance Bancorp | 55,821 | 2,294,243 |
Wintrust Financial Corp. | 31,199 | 2,330,253 |
Zions Bancorp NA | 75,530 | 2,330,101 |
65,977,241 | ||
Beverages — 0.5% | ||
Boston Beer Co., Inc. (The), Class A * | 4,817 | 1,608,637 |
Celsius Holdings, Inc. * | 25,069 | 3,812,744 |
Coca-Cola Consolidated, Inc. | 2,389 | 1,520,384 |
National Beverage Corp. * | 11,900 | 551,922 |
7,493,687 | ||
Biotechnology — 3.3% | ||
ACADIA Pharmaceuticals, Inc. * | 60,913 | 1,374,806 |
Alkermes plc * | 84,925 | 2,054,336 |
Amicus Therapeutics, Inc. * | 130,288 | 1,429,259 |
Apellis Pharmaceuticals, Inc. * (a) | 51,626 | 2,512,121 |
Arrowhead Pharmaceuticals, Inc. * | 54,661 | 1,344,114 |
Blueprint Medicines Corp. * | 30,933 | 1,820,716 |
Cerevel Therapeutics Holdings, Inc. * (a) | 40,417 | 955,862 |
CRISPR Therapeutics AG (Switzerland) * (a) | 40,490 | 1,576,276 |
Cytokinetics, Inc. * (a) | 48,923 | 1,705,456 |
Denali Therapeutics, Inc. * | 63,045 | 1,187,137 |
Exelixis, Inc. * | 162,317 | 3,342,107 |
Halozyme Therapeutics, Inc. * | 67,236 | 2,277,283 |
Intellia Therapeutics, Inc. * | 45,126 | 1,130,406 |
Ionis Pharmaceuticals, Inc. * (a) | 73,077 | 3,235,119 |
Karuna Therapeutics, Inc. * (a) | 18,246 | 3,039,966 |
Madrigal Pharmaceuticals, Inc. * (a) | 7,843 | 1,030,413 |
Natera, Inc. * | 54,920 | 2,167,692 |
PTC Therapeutics, Inc. * | 38,402 | 720,038 |
Roivant Sciences Ltd. * | 164,532 | 1,421,557 |
Sarepta Therapeutics, Inc. * | 47,564 | 3,201,533 |
TG Therapeutics, Inc. * (a) | 72,356 | 559,312 |
Ultragenyx Pharmaceutical, Inc. * | 36,454 | 1,290,472 |
United Therapeutics Corp. * | 23,925 | 5,331,926 |
Vaxcyte, Inc. * (a) | 43,549 | 2,094,707 |
Vir Biotechnology, Inc. * | 43,802 | 347,350 |
47,149,964 |
116 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Broadline Retail — 0.3% | ||
Dillard's, Inc., Class A | 1,775 | 551,049 |
Macy's, Inc. | 138,918 | 1,692,021 |
Ollie's Bargain Outlet Holdings, Inc. * | 31,521 | 2,434,682 |
4,677,752 | ||
Building Products — 2.7% | ||
A O Smith Corp. | 63,525 | 4,431,504 |
AAON, Inc. | 34,518 | 1,880,541 |
Advanced Drainage Systems, Inc. | 35,291 | 3,770,137 |
Armstrong World Industries, Inc. | 22,812 | 1,731,203 |
AZEK Co., Inc. (The) * | 76,158 | 1,995,339 |
Builders FirstSource, Inc. * | 63,742 | 6,917,282 |
Carlisle Cos., Inc. | 25,450 | 6,466,590 |
Simpson Manufacturing Co., Inc. | 21,743 | 2,895,733 |
Trex Co., Inc. * | 55,327 | 3,109,931 |
UFP Industries, Inc. | 31,553 | 3,002,899 |
Zurn Elkay Water Solutions Corp. | 72,306 | 1,913,217 |
38,114,376 | ||
Capital Markets — 3.1% | ||
Affiliated Managers Group, Inc. | 17,851 | 2,191,389 |
Ares Management Corp. | 84,147 | 8,296,053 |
Blue Owl Capital, Inc. (a) | 206,243 | 2,542,976 |
Cohen & Steers, Inc. | 13,011 | 679,695 |
Evercore, Inc., Class A | 17,759 | 2,311,867 |
Federated Hermes, Inc. | 44,989 | 1,426,151 |
Freedom Holding Corp. (Kazakhstan) * (a) | 8,527 | 699,555 |
Houlihan Lokey, Inc. | 26,222 | 2,635,835 |
Interactive Brokers Group, Inc., Class A | 54,516 | 4,365,096 |
Janus Henderson Group plc | 67,568 | 1,558,794 |
Jefferies Financial Group, Inc. | 90,093 | 2,899,193 |
Morningstar, Inc. | 13,277 | 3,362,267 |
Robinhood Markets, Inc., Class A * | 279,863 | 2,557,948 |
Stifel Financial Corp. | 53,253 | 3,035,421 |
Tradeweb Markets, Inc., Class A | 58,431 | 5,259,374 |
43,821,614 | ||
Chemicals — 2.3% | ||
Ashland, Inc. | 26,130 | 2,002,342 |
Avient Corp. | 46,422 | 1,467,864 |
Axalta Coating Systems Ltd. * | 113,026 | 2,964,672 |
Balchem Corp. | 16,449 | 1,912,032 |
Cabot Corp. | 28,524 | 1,896,275 |
Chemours Co. (The) | 75,497 | 1,820,233 |
Element Solutions, Inc. | 113,254 | 2,064,620 |
HB Fuller Co. | 27,445 | 1,815,487 |
INVESTMENTS | SHARES | VALUE($) |
Chemicals — continued | ||
Huntsman Corp. | 84,346 | 1,967,792 |
Livent Corp. * (a) | 91,617 | 1,336,692 |
NewMarket Corp. | 3,504 | 1,689,454 |
Olin Corp. | 64,163 | 2,741,043 |
Quaker Chemical Corp. (a) | 7,069 | 1,015,957 |
RPM International, Inc. | 65,805 | 6,006,022 |
Scotts Miracle-Gro Co. (The) (a) | 21,200 | 942,128 |
Sensient Technologies Corp. | 21,537 | 1,215,117 |
32,857,730 | ||
Commercial Services & Supplies — 1.1% | ||
Casella Waste Systems, Inc., Class A * | 29,028 | 2,190,163 |
Clean Harbors, Inc. * | 25,665 | 3,943,941 |
Driven Brands Holdings, Inc. * | 31,613 | 359,756 |
MSA Safety, Inc. | 18,846 | 2,975,406 |
Stericycle, Inc. * | 47,159 | 1,944,837 |
Tetra Tech, Inc. | 27,142 | 4,095,999 |
15,510,102 | ||
Communications Equipment — 0.4% | ||
Calix, Inc. * | 30,099 | 996,879 |
Ciena Corp. * | 76,225 | 3,216,695 |
Lumentum Holdings, Inc. * (a) | 35,024 | 1,373,291 |
5,586,865 | ||
Construction & Engineering — 2.2% | ||
AECOM | 70,730 | 5,414,382 |
API Group Corp. * | 104,565 | 2,705,097 |
Arcosa, Inc. | 24,851 | 1,716,459 |
Comfort Systems USA, Inc. | 18,239 | 3,316,762 |
EMCOR Group, Inc. | 24,023 | 4,964,353 |
Fluor Corp. * | 73,097 | 2,433,399 |
MasTec, Inc. * | 30,826 | 1,832,297 |
MDU Resources Group, Inc. | 103,801 | 1,931,737 |
Valmont Industries, Inc. | 10,696 | 2,106,149 |
WillScot Mobile Mini Holdings Corp. * | 100,574 | 3,963,621 |
30,384,256 | ||
Construction Materials — 0.3% | ||
Eagle Materials, Inc. (a) | 18,075 | 2,781,923 |
Summit Materials, Inc., Class A * | 60,625 | 1,994,563 |
4,776,486 | ||
Consumer Finance — 0.8% | ||
Credit Acceptance Corp. * (a) | 3,264 | 1,313,532 |
FirstCash Holdings, Inc. | 18,869 | 2,055,211 |
OneMain Holdings, Inc. | 61,386 | 2,205,599 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 117 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Consumer Finance — continued | ||
SLM Corp. | 115,266 | 1,498,458 |
SoFi Technologies, Inc. * (a) | 484,358 | 3,656,903 |
10,729,703 | ||
Consumer Staples Distribution & Retail — 1.5% | ||
BJ's Wholesale Club Holdings, Inc. * | 68,500 | 4,666,220 |
Casey's General Stores, Inc. | 19,064 | 5,183,692 |
Performance Food Group Co. * | 79,604 | 4,597,927 |
Sprouts Farmers Market, Inc. * (a) | 51,991 | 2,184,662 |
US Foods Holding Corp. * | 115,786 | 4,508,707 |
21,141,208 | ||
Containers & Packaging — 1.4% | ||
AptarGroup, Inc. | 33,461 | 4,091,276 |
Berry Global Group, Inc. | 60,222 | 3,312,210 |
Graphic Packaging Holding Co. | 156,628 | 3,369,068 |
Greif, Inc., Class A | 12,975 | 823,912 |
Greif, Inc., Class B | 2,600 | 166,556 |
O-I Glass, Inc. * | 79,040 | 1,221,168 |
Sealed Air Corp. | 73,592 | 2,265,898 |
Silgan Holdings, Inc. | 42,580 | 1,705,755 |
Sonoco Products Co. | 49,949 | 2,587,858 |
19,543,701 | ||
Diversified Consumer Services — 1.0% | ||
ADT, Inc. | 114,842 | 650,006 |
Bright Horizons Family Solutions, Inc. * (a) | 29,472 | 2,182,696 |
Duolingo, Inc. * | 18,047 | 2,635,764 |
Grand Canyon Education, Inc. * | 15,199 | 1,798,498 |
H&R Block, Inc. | 77,616 | 3,186,137 |
Service Corp. International | 76,922 | 4,186,095 |
14,639,196 | ||
Diversified REITs — 0.1% | ||
Essential Properties Realty Trust, Inc. (a) | 79,538 | 1,745,859 |
Diversified Telecommunication Services — 0.4% | ||
Cogent Communications Holdings, Inc. | 22,185 | 1,441,581 |
Frontier Communications Parent, Inc. * (a) | 112,774 | 2,020,910 |
Iridium Communications, Inc. | 63,749 | 2,361,901 |
5,824,392 | ||
Electric Utilities — 1.0% | ||
ALLETE, Inc. | 29,271 | 1,567,169 |
Hawaiian Electric Industries, Inc. (a) | 55,874 | 725,245 |
IDACORP, Inc. | 25,789 | 2,442,476 |
OGE Energy Corp. | 102,098 | 3,491,752 |
Otter Tail Corp. (a) | 21,275 | 1,636,898 |
INVESTMENTS | SHARES | VALUE($) |
Electric Utilities — continued | ||
PNM Resources, Inc. (a) | 43,760 | 1,849,298 |
Portland General Electric Co. | 51,549 | 2,062,991 |
13,775,829 | ||
Electrical Equipment — 2.4% | ||
Acuity Brands, Inc. | 15,903 | 2,575,809 |
Array Technologies, Inc. * (a) | 72,398 | 1,254,657 |
Atkore, Inc. * | 19,260 | 2,393,633 |
Bloom Energy Corp., Class A * (a) | 106,761 | 1,110,314 |
ChargePoint Holdings, Inc. * (a) | 151,300 | 384,302 |
EnerSys | 20,912 | 1,789,649 |
Generac Holdings, Inc. * | 31,737 | 2,668,130 |
nVent Electric plc | 84,507 | 4,067,322 |
Plug Power, Inc. * (a) | 276,202 | 1,626,830 |
Regal Rexnord Corp. | 33,789 | 4,000,955 |
Sensata Technologies Holding plc | 77,720 | 2,477,714 |
Shoals Technologies Group, Inc., Class A * | 86,643 | 1,330,836 |
Sunrun, Inc. * (a) | 110,718 | 1,068,429 |
Vertiv Holdings Co. | 178,469 | 7,008,478 |
33,757,058 | ||
Electronic Equipment, Instruments & Components — 2.8% | ||
Advanced Energy Industries, Inc. | 19,191 | 1,674,607 |
Arrow Electronics, Inc. * | 28,390 | 3,219,710 |
Avnet, Inc. | 46,576 | 2,157,866 |
Badger Meter, Inc. | 14,955 | 2,072,015 |
Belden, Inc. | 21,560 | 1,528,604 |
Coherent Corp. * | 66,330 | 1,963,368 |
Fabrinet (Thailand) * | 18,495 | 2,866,725 |
Insight Enterprises, Inc. * | 15,402 | 2,207,107 |
IPG Photonics Corp. * | 15,209 | 1,306,453 |
Jabil, Inc. (a) | 66,731 | 8,194,567 |
Littelfuse, Inc. | 12,692 | 2,749,976 |
Novanta, Inc. * (a) | 18,258 | 2,411,151 |
Rogers Corp. * | 8,552 | 1,050,955 |
Sanmina Corp. * | 29,188 | 1,484,794 |
TD SYNNEX Corp. | 24,390 | 2,236,075 |
Vontier Corp. | 78,883 | 2,331,781 |
39,455,754 | ||
Energy Equipment & Services — 1.2% | ||
ChampionX Corp. | 100,223 | 3,086,868 |
Helmerich & Payne, Inc. | 50,701 | 2,006,239 |
NOV, Inc. | 200,744 | 4,006,850 |
Transocean Ltd. * (a) | 343,943 | 2,276,903 |
118 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Energy Equipment & Services — continued | ||
Valaris Ltd. * | 32,448 | 2,142,866 |
Weatherford International plc * | 36,739 | 3,420,033 |
16,939,759 | ||
Entertainment — 0.9% | ||
Endeavor Group Holdings, Inc., Class A | 96,026 | 2,185,552 |
Madison Square Garden Sports Corp. * | 8,502 | 1,429,526 |
Playtika Holding Corp. * | 35,515 | 298,326 |
Roku, Inc. * (a) | 63,244 | 3,767,445 |
TKO Group Holdings, Inc. (a) | 26,726 | 2,190,997 |
Warner Music Group Corp., Class A (a) | 70,543 | 2,207,996 |
12,079,842 | ||
Financial Services — 1.8% | ||
Enact Holdings, Inc. | 15,480 | 426,629 |
Essent Group Ltd. | 54,524 | 2,575,714 |
Euronet Worldwide, Inc. * | 24,043 | 1,847,464 |
Flywire Corp. * | 53,658 | 1,442,864 |
Jackson Financial, Inc., Class A | 37,177 | 1,364,768 |
MGIC Investment Corp. | 143,937 | 2,423,899 |
Mr. Cooper Group, Inc. * | 34,087 | 1,926,938 |
PennyMac Financial Services, Inc. | 14,728 | 989,721 |
Radian Group, Inc. | 80,264 | 2,033,890 |
Shift4 Payments, Inc., Class A * (a) | 28,781 | 1,281,330 |
TFS Financial Corp. | 25,713 | 304,956 |
Toast, Inc., Class A * (a) | 184,334 | 2,947,501 |
Western Union Co. (The) | 190,946 | 2,155,780 |
WEX, Inc. * | 21,879 | 3,642,416 |
25,363,870 | ||
Food Products — 1.5% | ||
Darling Ingredients, Inc. * | 81,305 | 3,600,998 |
Flowers Foods, Inc. | 98,031 | 2,149,820 |
Freshpet, Inc. * (a) | 24,576 | 1,410,662 |
Hostess Brands, Inc. * | 67,730 | 2,262,182 |
Ingredion, Inc. | 33,705 | 3,154,114 |
J & J Snack Foods Corp. | 7,872 | 1,232,834 |
Lancaster Colony Corp. | 10,381 | 1,756,154 |
Pilgrim's Pride Corp. * | 20,530 | 523,515 |
Post Holdings, Inc. * | 25,884 | 2,077,968 |
Seaboard Corp. | 107 | 375,244 |
Simply Good Foods Co. (The) * (a) | 46,183 | 1,722,164 |
TreeHouse Foods, Inc. * | 26,161 | 1,090,652 |
21,356,307 |
INVESTMENTS | SHARES | VALUE($) |
Gas Utilities — 0.8% | ||
National Fuel Gas Co. | 46,817 | 2,385,326 |
New Jersey Resources Corp. | 49,720 | 2,017,638 |
ONE Gas, Inc. | 28,249 | 1,706,240 |
Southwest Gas Holdings, Inc. | 30,593 | 1,793,056 |
Spire, Inc. | 26,829 | 1,492,497 |
UGI Corp. | 106,788 | 2,221,190 |
11,615,947 | ||
Ground Transportation — 1.8% | ||
Avis Budget Group, Inc. * | 10,085 | 1,641,838 |
Hertz Global Holdings, Inc. * (a) | 68,244 | 575,297 |
Knight-Swift Transportation Holdings, Inc. | 82,218 | 4,019,638 |
Landstar System, Inc. | 18,325 | 3,019,593 |
Lyft, Inc., Class A * (a) | 173,282 | 1,588,996 |
Ryder System, Inc. | 23,204 | 2,263,318 |
Saia, Inc. * | 13,528 | 4,849,653 |
U-Haul Holding Co. * (a) | 4,893 | 240,344 |
U-Haul Holding Co. | 50,370 | 2,377,968 |
XPO, Inc. * | 59,111 | 4,481,205 |
25,057,850 | ||
Health Care Equipment & Supplies — 2.5% | ||
CONMED Corp. | 15,683 | 1,528,465 |
Enovis Corp. * | 25,310 | 1,161,729 |
Envista Holdings Corp. * | 83,522 | 1,943,557 |
Globus Medical, Inc., Class A * | 59,829 | 2,734,784 |
Haemonetics Corp. * | 25,836 | 2,202,002 |
ICU Medical, Inc. * | 10,337 | 1,013,646 |
Inari Medical, Inc. * | 26,034 | 1,580,524 |
Inspire Medical Systems, Inc. * | 14,964 | 2,202,102 |
Integra LifeSciences Holdings Corp. * | 36,092 | 1,297,868 |
iRhythm Technologies, Inc. * | 15,604 | 1,225,226 |
Lantheus Holdings, Inc. * | 34,893 | 2,254,088 |
Masimo Corp. * (a) | 22,603 | 1,833,781 |
Merit Medical Systems, Inc. * | 29,386 | 2,019,994 |
Neogen Corp. * | 100,321 | 1,493,780 |
Novocure Ltd. * | 49,457 | 657,778 |
Penumbra, Inc. * | 19,610 | 3,748,452 |
QuidelOrtho Corp. * | 25,210 | 1,539,827 |
Shockwave Medical, Inc. * (a) | 18,716 | 3,860,362 |
STAAR Surgical Co. * | 24,723 | 1,033,916 |
35,331,881 | ||
Health Care Providers & Services — 2.2% | ||
Acadia Healthcare Co., Inc. * | 46,989 | 3,454,161 |
AMN Healthcare Services, Inc. * | 19,354 | 1,468,195 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 119 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Health Care Providers & Services — continued | ||
Chemed Corp. | 7,699 | 4,331,842 |
CorVel Corp. * | 4,631 | 898,136 |
Encompass Health Corp. | 51,092 | 3,196,316 |
Ensign Group, Inc. (The) | 28,652 | 2,767,783 |
HealthEquity, Inc. * | 43,584 | 3,124,101 |
LifeStance Health Group, Inc. * (a) | 46,247 | 269,620 |
Option Care Health, Inc. * | 91,695 | 2,542,702 |
Premier, Inc., Class A | 60,697 | 1,166,596 |
Privia Health Group, Inc. * (a) | 52,040 | 1,093,881 |
Progyny, Inc. * | 42,310 | 1,305,687 |
R1 RCM, Inc. * | 100,383 | 1,183,516 |
Select Medical Holdings Corp. | 53,160 | 1,208,327 |
Surgery Partners, Inc. * | 33,530 | 775,549 |
Tenet Healthcare Corp. * | 51,762 | 2,779,619 |
31,566,031 | ||
Health Care REITs — 0.5% | ||
Medical Properties Trust, Inc. (a) | 305,061 | 1,458,192 |
Omega Healthcare Investors, Inc. (a) | 124,844 | 4,132,336 |
Physicians Realty Trust | 121,576 | 1,320,315 |
6,910,843 | ||
Health Care Technology — 0.3% | ||
Certara, Inc. * | 54,591 | 665,464 |
Doximity, Inc., Class A * (a) | 63,974 | 1,306,989 |
Evolent Health, Inc., Class A * | 56,929 | 1,390,775 |
Teladoc Health, Inc. * (a) | 84,107 | 1,391,130 |
4,754,358 | ||
Hotel & Resort REITs — 0.3% | ||
Apple Hospitality REIT, Inc. (a) | 108,468 | 1,700,778 |
Ryman Hospitality Properties, Inc. | 30,430 | 2,604,808 |
4,305,586 | ||
Hotels, Restaurants & Leisure — 3.0% | ||
Boyd Gaming Corp. | 36,183 | 1,999,111 |
Choice Hotels International, Inc. (a) | 12,837 | 1,418,489 |
Churchill Downs, Inc. | 34,747 | 3,816,610 |
DraftKings, Inc., Class A * | 236,533 | 6,533,041 |
Hilton Grand Vacations, Inc. * | 37,009 | 1,330,474 |
Hyatt Hotels Corp., Class A (a) | 23,394 | 2,396,481 |
Life Time Group Holdings, Inc. * | 30,004 | 354,647 |
Light & Wonder, Inc. * | 46,440 | 3,395,228 |
Marriott Vacations Worldwide Corp. (a) | 17,301 | 1,554,668 |
Norwegian Cruise Line Holdings Ltd. * (a) | 216,868 | 2,949,405 |
Penn Entertainment, Inc. * | 77,010 | 1,519,407 |
INVESTMENTS | SHARES | VALUE($) |
Hotels, Restaurants & Leisure — continued | ||
Planet Fitness, Inc., Class A * | 43,104 | 2,382,358 |
SeaWorld Entertainment, Inc. * | 18,265 | 786,856 |
Texas Roadhouse, Inc. | 34,038 | 3,456,219 |
Travel + Leisure Co. | 37,674 | 1,282,046 |
Wendy's Co. (The) | 86,440 | 1,644,089 |
Wingstop, Inc. | 15,276 | 2,791,995 |
Wyndham Hotels & Resorts, Inc. | 42,956 | 3,110,014 |
42,721,138 | ||
Household Durables — 1.9% | ||
Installed Building Products, Inc. | 12,018 | 1,342,050 |
KB Home | 39,626 | 1,751,469 |
Leggett & Platt, Inc. | 67,892 | 1,590,710 |
MDC Holdings, Inc. | 30,396 | 1,153,528 |
Meritage Homes Corp. | 18,723 | 2,134,796 |
Mohawk Industries, Inc. * | 26,952 | 2,166,402 |
Newell Brands, Inc. | 194,268 | 1,305,481 |
Skyline Champion Corp. * | 27,087 | 1,588,111 |
Taylor Morrison Home Corp. * | 55,794 | 2,138,026 |
Tempur Sealy International, Inc. | 87,758 | 3,504,177 |
Toll Brothers, Inc. | 55,742 | 3,941,517 |
TopBuild Corp. * | 16,177 | 3,700,650 |
26,316,917 | ||
Household Products — 0.1% | ||
Reynolds Consumer Products, Inc. | 27,838 | 707,920 |
Independent Power and Renewable Electricity Producers — 0.2% | ||
Clearway Energy, Inc. | 17,640 | 359,327 |
Clearway Energy, Inc., Class C | 42,010 | 912,037 |
Ormat Technologies, Inc. (a) | 27,329 | 1,681,827 |
2,953,191 | ||
Industrial REITs — 1.4% | ||
Americold Realty Trust, Inc. | 129,523 | 3,396,093 |
EastGroup Properties, Inc. | 23,142 | 3,777,931 |
First Industrial Realty Trust, Inc. | 67,435 | 2,852,501 |
Rexford Industrial Realty, Inc. | 105,238 | 4,550,491 |
STAG Industrial, Inc. | 91,592 | 3,042,686 |
Terreno Realty Corp. | 42,788 | 2,279,745 |
19,899,447 | ||
Insurance — 3.9% | ||
American Equity Investment Life Holding Co. | 31,549 | 1,670,835 |
Assurant, Inc. (a) | 27,033 | 4,025,214 |
Assured Guaranty Ltd. | 28,381 | 1,770,974 |
120 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Insurance — continued | ||
Axis Capital Holdings Ltd. | 39,549 | 2,258,248 |
Brighthouse Financial, Inc. * | 33,395 | 1,512,794 |
Enstar Group Ltd. * | 6,764 | 1,602,865 |
Erie Indemnity Co., Class A | 12,717 | 3,512,308 |
First American Financial Corp. | 52,553 | 2,703,326 |
Hanover Insurance Group, Inc. (The) | 18,231 | 2,136,856 |
Kemper Corp. | 30,713 | 1,224,834 |
Kinsale Capital Group, Inc. | 11,214 | 3,744,467 |
Lincoln National Corp. (a) | 86,496 | 1,883,018 |
Old Republic International Corp. | 134,936 | 3,694,548 |
Primerica, Inc. | 18,238 | 3,486,376 |
RenaissanceRe Holdings Ltd. (Bermuda) | 26,101 | 5,731,519 |
RLI Corp. | 20,467 | 2,727,023 |
Ryan Specialty Holdings, Inc. * (a) | 51,052 | 2,205,446 |
Selective Insurance Group, Inc. | 30,885 | 3,215,437 |
Unum Group | 93,756 | 4,584,668 |
White Mountains Insurance Group Ltd. | 1,300 | 1,859,975 |
55,550,731 | ||
Interactive Media & Services — 0.2% | ||
IAC, Inc. * | 35,522 | 1,511,461 |
Ziff Davis, Inc. * | 23,706 | 1,433,265 |
2,944,726 | ||
IT Services — 0.3% | ||
DigitalOcean Holdings, Inc. * (a) | 26,740 | 547,100 |
DXC Technology Co. * | 104,585 | 2,109,480 |
Kyndryl Holdings, Inc. * | 116,706 | 1,707,409 |
4,363,989 | ||
Leisure Products — 0.8% | ||
Acushnet Holdings Corp. (a) | 15,620 | 795,995 |
Brunswick Corp. | 35,612 | 2,473,966 |
Mattel, Inc. * | 180,550 | 3,444,894 |
Polaris, Inc. (a) | 27,162 | 2,347,340 |
Topgolf Callaway Brands Corp. * (a) | 72,839 | 890,093 |
YETI Holdings, Inc. * | 44,235 | 1,880,872 |
11,833,160 | ||
Life Sciences Tools & Services — 0.9% | ||
10X Genomics, Inc., Class A * | 52,687 | 1,858,797 |
Azenta, Inc. * (a) | 30,648 | 1,392,952 |
Bruker Corp. (a) | 50,160 | 2,859,120 |
Medpace Holdings, Inc. * | 11,846 | 2,874,669 |
INVESTMENTS | SHARES | VALUE($) |
Life Sciences Tools & Services — continued | ||
Repligen Corp. * (a) | 26,427 | 3,556,017 |
Sotera Health Co. * (a) | 50,415 | 638,254 |
13,179,809 | ||
Machinery — 4.9% | ||
AGCO Corp. | 31,692 | 3,633,805 |
Allison Transmission Holdings, Inc. | 45,633 | 2,300,816 |
Chart Industries, Inc. * (a) | 21,403 | 2,487,671 |
Crane Co. | 24,881 | 2,421,668 |
Donaldson Co., Inc. | 61,823 | 3,564,714 |
Esab Corp. | 28,867 | 1,827,281 |
Federal Signal Corp. | 31,092 | 1,804,580 |
Flowserve Corp. | 66,889 | 2,456,164 |
Franklin Electric Co., Inc. | 20,265 | 1,757,381 |
Gates Industrial Corp. plc * | 67,333 | 735,276 |
Graco, Inc. | 86,146 | 6,404,955 |
Hillenbrand, Inc. | 35,652 | 1,355,846 |
ITT, Inc. | 41,871 | 3,908,658 |
John Bean Technologies Corp. | 16,217 | 1,686,892 |
Lincoln Electric Holdings, Inc. | 29,278 | 5,117,794 |
Middleby Corp. (The) * | 27,315 | 3,083,044 |
Mueller Industries, Inc. (a) | 57,891 | 2,183,070 |
Nordson Corp. | 27,614 | 5,870,460 |
Oshkosh Corp. | 33,298 | 2,921,233 |
RBC Bearings, Inc. * | 14,827 | 3,259,568 |
Terex Corp. | 34,355 | 1,573,459 |
Timken Co. (The) | 33,325 | 2,303,424 |
Toro Co. (The) | 52,952 | 4,280,640 |
Watts Water Technologies, Inc., Class A | 13,940 | 2,411,759 |
69,350,158 | ||
Marine Transportation — 0.2% | ||
Kirby Corp. * | 30,330 | 2,265,651 |
Media — 0.6% | ||
Cable One, Inc. | 2,325 | 1,278,448 |
New York Times Co. (The), Class A | 83,393 | 3,361,572 |
Nexstar Media Group, Inc. (a) | 16,979 | 2,378,418 |
TEGNA, Inc. | 102,735 | 1,490,685 |
8,509,123 | ||
Metals & Mining — 2.1% | ||
Alcoa Corp. | 90,965 | 2,332,343 |
ATI, Inc. * | 65,541 | 2,475,484 |
Cleveland-Cliffs, Inc. * | 259,339 | 4,351,708 |
Commercial Metals Co. | 59,546 | 2,518,200 |
Hecla Mining Co. | 292,706 | 1,191,313 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 121 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Metals & Mining — continued | ||
MP Materials Corp. * (a) | 73,353 | 1,202,989 |
Reliance Steel & Aluminum Co. | 29,834 | 7,589,173 |
Royal Gold, Inc. | 33,486 | 3,493,594 |
United States Steel Corp. (a) | 113,677 | 3,852,514 |
Worthington Industries, Inc. | 15,512 | 955,850 |
29,963,168 | ||
Mortgage Real Estate Investment Trusts (REITs) — 0.7% | ||
AGNC Investment Corp. (a) | 308,977 | 2,280,250 |
Blackstone Mortgage Trust, Inc., Class A (a) | 87,833 | 1,752,268 |
Rithm Capital Corp. | 246,381 | 2,298,735 |
Starwood Property Trust, Inc. (a) | 151,473 | 2,688,646 |
9,019,899 | ||
Multi-Utilities — 0.3% | ||
Avista Corp. | 39,013 | 1,236,322 |
Black Hills Corp. | 34,214 | 1,654,247 |
Northwestern Energy Group, Inc. | 30,593 | 1,468,770 |
4,359,339 | ||
Office REITs — 0.2% | ||
Cousins Properties, Inc. | 77,368 | 1,382,566 |
Kilroy Realty Corp. | 54,351 | 1,553,352 |
2,935,918 | ||
Oil, Gas & Consumable Fuels — 4.4% | ||
Antero Midstream Corp. | 173,622 | 2,142,495 |
Antero Resources Corp. * (a) | 143,956 | 4,238,065 |
California Resources Corp. | 33,029 | 1,736,995 |
Chesapeake Energy Corp. (a) | 57,353 | 4,936,946 |
Chord Energy Corp. | 21,188 | 3,502,800 |
Civitas Resources, Inc. | 43,511 | 3,282,035 |
Comstock Resources, Inc. (a) | 46,856 | 590,386 |
Denbury, Inc. * | 25,965 | 2,308,029 |
DT Midstream, Inc. | 49,399 | 2,666,064 |
HF Sinclair Corp. | 74,146 | 4,106,205 |
Magnolia Oil & Gas Corp., Class A (a) | 95,782 | 2,150,306 |
Matador Resources Co. | 56,492 | 3,484,991 |
Murphy Oil Corp. | 75,628 | 3,393,428 |
New Fortress Energy, Inc. (a) | 33,443 | 1,013,323 |
Ovintiv, Inc. | 129,350 | 6,208,800 |
PBF Energy, Inc., Class A | 56,062 | 2,664,627 |
Peabody Energy Corp. | 56,854 | 1,341,186 |
Permian Resources Corp. (a) | 141,555 | 2,062,456 |
Range Resources Corp. (a) | 123,059 | 4,410,435 |
INVESTMENTS | SHARES | VALUE($) |
Oil, Gas & Consumable Fuels — continued | ||
SM Energy Co. | 60,497 | 2,439,239 |
Southwestern Energy Co. * | 561,520 | 4,003,638 |
62,682,449 | ||
Paper & Forest Products — 0.1% | ||
Louisiana-Pacific Corp. | 32,713 | 1,677,523 |
Passenger Airlines — 0.4% | ||
Alaska Air Group, Inc. * | 64,842 | 2,050,952 |
American Airlines Group, Inc. * (a) | 333,073 | 3,713,764 |
5,764,716 | ||
Personal Care Products — 0.6% | ||
BellRing Brands, Inc. * | 67,006 | 2,930,173 |
Coty, Inc., Class A * (a) | 182,586 | 1,710,831 |
elf Beauty, Inc. * | 27,767 | 2,572,057 |
Inter Parfums, Inc. | 9,103 | 1,157,082 |
8,370,143 | ||
Pharmaceuticals — 0.8% | ||
Axsome Therapeutics, Inc. * (a) | 19,736 | 1,229,158 |
Elanco Animal Health, Inc. * (a) | 251,151 | 2,212,640 |
Intra-Cellular Therapies, Inc. * | 45,551 | 2,266,618 |
Organon & Co. | 130,303 | 1,927,181 |
Perrigo Co. plc | 69,037 | 1,908,183 |
Prestige Consumer Healthcare, Inc. * | 25,266 | 1,499,790 |
11,043,570 | ||
Professional Services — 2.9% | ||
Alight, Inc., Class A * (a) | 184,163 | 1,222,842 |
ASGN, Inc. * | 24,675 | 2,059,376 |
CACI International, Inc., Class A * | 11,638 | 3,779,557 |
Clarivate plc * (a) | 224,069 | 1,429,560 |
Concentrix Corp. | 22,039 | 1,679,592 |
Dun & Bradstreet Holdings, Inc. | 118,675 | 1,039,593 |
ExlService Holdings, Inc. * | 84,481 | 2,205,799 |
Exponent, Inc. | 25,939 | 1,901,069 |
FTI Consulting, Inc. * | 17,356 | 3,683,985 |
Genpact Ltd. | 85,049 | 2,852,543 |
Insperity, Inc. | 18,465 | 1,954,336 |
KBR, Inc. | 68,766 | 3,998,743 |
ManpowerGroup, Inc. | 25,286 | 1,769,261 |
Maximus, Inc. | 30,991 | 2,315,648 |
Paycor HCM, Inc. * (a) | 32,411 | 699,429 |
Robert Half, Inc. | 54,607 | 4,082,965 |
122 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Professional Services — continued | ||
Science Applications International Corp. | 27,354 | 2,988,151 |
TriNet Group, Inc. * | 15,908 | 1,634,547 |
41,296,996 | ||
Real Estate Management & Development — 0.3% | ||
Howard Hughes Holdings, Inc. * | 16,608 | 1,101,608 |
Jones Lang LaSalle, Inc. * | 24,289 | 3,107,049 |
4,208,657 | ||
Residential REITs — 0.6% | ||
American Homes 4 Rent, Class A | 162,133 | 5,308,235 |
Apartment Income REIT Corp. | 76,092 | 2,222,647 |
Independence Realty Trust, Inc. | 114,419 | 1,417,651 |
8,948,533 | ||
Retail REITs — 1.2% | ||
Agree Realty Corp. | 49,092 | 2,746,206 |
Brixmor Property Group, Inc. | 153,226 | 3,185,569 |
Kite Realty Group Trust (a) | 111,820 | 2,384,002 |
NNN REIT, Inc. | 93,001 | 3,378,726 |
Phillips Edison & Co., Inc. (a) | 59,845 | 2,113,127 |
Spirit Realty Capital, Inc. | 72,033 | 2,592,468 |
16,400,098 | ||
Semiconductors & Semiconductor Equipment — 2.3% | ||
Allegro MicroSystems, Inc. (Japan) * | 36,303 | 942,426 |
Amkor Technology, Inc. | 52,612 | 1,097,486 |
Axcelis Technologies, Inc. * | 16,730 | 2,133,075 |
Cirrus Logic, Inc. * | 27,890 | 1,866,678 |
Diodes, Inc. * | 23,312 | 1,517,145 |
Lattice Semiconductor Corp. * (a) | 70,260 | 3,907,158 |
MACOM Technology Solutions Holdings, Inc. * | 27,521 | 1,941,331 |
MKS Instruments, Inc. | 32,033 | 2,103,287 |
Onto Innovation, Inc. * | 24,999 | 2,809,138 |
Power Integrations, Inc. | 29,269 | 2,029,220 |
Rambus, Inc. * | 55,640 | 3,022,921 |
Silicon Laboratories, Inc. * | 16,229 | 1,495,989 |
Synaptics, Inc. * | 20,138 | 1,684,745 |
Universal Display Corp. | 22,210 | 3,091,188 |
Wolfspeed, Inc. * (a) | 63,468 | 2,147,757 |
31,789,544 | ||
Software — 5.1% | ||
Altair Engineering, Inc., Class A * | 27,581 | 1,713,332 |
AppLovin Corp., Class A * | 69,139 | 2,519,425 |
Blackbaud, Inc. * | 21,980 | 1,437,492 |
INVESTMENTS | SHARES | VALUE($) |
Software — continued | ||
BlackLine, Inc. * | 25,788 | 1,266,191 |
Box, Inc., Class A * | 73,857 | 1,836,085 |
CCC Intelligent Solutions Holdings, Inc. * | 103,141 | 1,110,829 |
Confluent, Inc., Class A * | 108,046 | 3,123,610 |
Dolby Laboratories, Inc., Class A | 30,356 | 2,457,015 |
DoubleVerify Holdings, Inc. * | 63,992 | 1,780,897 |
Dropbox, Inc., Class A * | 131,461 | 3,457,424 |
Elastic NV * | 40,708 | 3,054,728 |
Envestnet, Inc. * | 25,308 | 936,396 |
Five9, Inc. * | 36,805 | 2,129,905 |
Guidewire Software, Inc. * | 41,515 | 3,741,747 |
Informatica, Inc., Class A * | 19,899 | 381,663 |
Instructure Holdings, Inc. * | 9,543 | 235,044 |
Manhattan Associates, Inc. * | 31,421 | 6,126,467 |
MicroStrategy, Inc., Class A * (a) | 6,189 | 2,620,361 |
NCR Voyix Corp. * | 68,251 | 1,043,558 |
New Relic, Inc. * | 27,610 | 2,392,959 |
Nutanix, Inc., Class A * | 120,192 | 4,349,748 |
Pegasystems, Inc. | 21,638 | 924,808 |
PowerSchool Holdings, Inc., Class A * (a) | 29,193 | 581,525 |
Procore Technologies, Inc. * | 44,985 | 2,748,134 |
Qualys, Inc. * (a) | 18,697 | 2,859,706 |
SentinelOne, Inc., Class A * | 121,597 | 1,900,561 |
Smartsheet, Inc., Class A * | 68,130 | 2,693,860 |
SPS Commerce, Inc. * | 18,668 | 2,993,227 |
Tenable Holdings, Inc. * | 58,952 | 2,482,469 |
Teradata Corp. * | 50,931 | 2,175,772 |
UiPath, Inc., Class A * (a) | 204,982 | 3,183,370 |
Workiva, Inc. * | 24,117 | 2,100,349 |
72,358,657 | ||
Specialized REITs — 1.4% | ||
CubeSmart | 114,610 | 3,907,055 |
EPR Properties | 38,392 | 1,639,338 |
Gaming and Leisure Properties, Inc. | 133,889 | 6,077,222 |
Lamar Advertising Co., Class A (a) | 44,626 | 3,671,381 |
National Storage Affiliates Trust | 42,304 | 1,206,510 |
PotlatchDeltic Corp. (a) | 40,733 | 1,745,409 |
Rayonier, Inc. | 69,528 | 1,754,887 |
20,001,802 | ||
Specialty Retail — 3.1% | ||
Academy Sports & Outdoors, Inc. | 38,979 | 1,747,818 |
Asbury Automotive Group, Inc. * | 10,483 | 2,006,132 |
AutoNation, Inc. * | 13,690 | 1,780,795 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 123 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Specialty Retail — continued | ||
Chewy, Inc., Class A * (a) | 59,243 | 1,145,167 |
Dick's Sporting Goods, Inc. | 31,940 | 3,415,983 |
Five Below, Inc. * (a) | 28,391 | 4,939,466 |
Floor & Decor Holdings, Inc., Class A * (a) | 54,259 | 4,470,942 |
Foot Locker, Inc. (a) | 41,646 | 874,150 |
GameStop Corp., Class A * (a) | 136,730 | 1,882,772 |
Gap, Inc. (The) (a) | 108,841 | 1,393,165 |
Group 1 Automotive, Inc. | 7,163 | 1,807,440 |
Lithia Motors, Inc., Class A | 14,064 | 3,406,441 |
Murphy USA, Inc. | 9,934 | 3,602,962 |
Penske Automotive Group, Inc. (a) | 9,931 | 1,420,928 |
RH * | 7,881 | 1,717,743 |
Signet Jewelers Ltd. | 23,147 | 1,616,355 |
Valvoline, Inc. | 70,699 | 2,097,639 |
Williams-Sonoma, Inc. | 32,736 | 4,918,257 |
44,244,155 | ||
Technology Hardware, Storage & Peripherals — 0.8% | ||
Pure Storage, Inc., Class A * | 147,371 | 4,982,614 |
Super Micro Computer, Inc. * (a) | 23,271 | 5,572,706 |
10,555,320 | ||
Textiles, Apparel & Luxury Goods — 1.7% | ||
Capri Holdings Ltd. * | 59,160 | 3,027,809 |
Columbia Sportswear Co. | 17,808 | 1,314,230 |
Crocs, Inc. * | 31,409 | 2,805,452 |
Deckers Outdoor Corp. * | 13,333 | 7,960,601 |
PVH Corp. | 31,968 | 2,376,821 |
Ralph Lauren Corp. | 20,595 | 2,317,555 |
Skechers U.S.A., Inc., Class A * | 68,500 | 3,303,070 |
Under Armour, Inc., Class A * | 96,209 | 659,032 |
Under Armour, Inc., Class C * | 101,942 | 655,487 |
24,420,057 | ||
Trading Companies & Distributors — 1.5% | ||
Air Lease Corp. | 52,636 | 1,822,785 |
Applied Industrial Technologies, Inc. | 19,715 | 3,026,450 |
Beacon Roofing Supply, Inc. * | 27,022 | 1,923,156 |
Core & Main, Inc., Class A * (a) | 53,607 | 1,612,499 |
GATX Corp. | 18,059 | 1,888,610 |
Herc Holdings, Inc. | 14,418 | 1,539,698 |
MSC Industrial Direct Co., Inc., Class A | 24,151 | 2,288,307 |
Rush Enterprises, Inc., Class A | 31,889 | 1,134,611 |
Rush Enterprises, Inc., Class B | 4,645 | 187,844 |
INVESTMENTS | SHARES | VALUE($) |
Trading Companies & Distributors — continued | ||
SiteOne Landscape Supply, Inc. * | 22,976 | 3,165,403 |
WESCO International, Inc. | 22,522 | 2,887,320 |
21,476,683 | ||
Water Utilities — 0.5% | ||
American States Water Co. | 18,863 | 1,472,257 |
California Water Service Group | 29,419 | 1,432,117 |
Essential Utilities, Inc. | 124,065 | 4,151,215 |
7,055,589 | ||
Total Common Stocks (Cost $1,510,077,695) | 1,396,416,946 | |
Short-Term Investments — 12.0% | ||
Investment Companies — 1.0% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (b) (c) (Cost $14,241,062) | 14,241,062 | 14,241,062 |
Investment of Cash Collateral from Securities Loaned — 11.0% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.53% (b) (c) | 139,444,167 | 139,472,056 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (b) (c) | 15,819,380 | 15,819,380 |
Total Investment of Cash Collateral from Securities Loaned (Cost $155,293,935) | 155,291,436 | |
Total Short-Term Investments (Cost $169,534,997) | 169,532,498 | |
Total Investments — 110.7% (Cost $1,679,612,692) | 1,565,949,444 | |
Liabilities in Excess of Other Assets — (10.7)% | (151,786,953 ) | |
NET ASSETS — 100.0% | 1,414,162,491 |
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 October 31, 2023. The total value of securities on loan at October 31, 2023 is $154,016,364. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of October 31, 2023. |
124 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P MidCap 400 E-Mini Index | 69 | 12/15/2023 | USD | 16,383,360 | (1,131,962 ) |
Abbreviations | |
USD | United States Dollar |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 125 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 99.4% | ||
Aerospace & Defense — 1.5% | ||
AAR Corp. * | 18,279 | 1,085,042 |
AeroVironment, Inc. * | 14,423 | 1,653,741 |
AerSale Corp. * (a) | 15,529 | 237,438 |
Cadre Holdings, Inc. | 9,926 | 278,424 |
Kaman Corp. | 15,523 | 288,883 |
Kratos Defense & Security Solutions, Inc. * | 70,425 | 1,200,746 |
Mercury Systems, Inc. * | 28,166 | 1,013,413 |
Moog, Inc., Class A | 15,794 | 1,832,894 |
Rocket Lab USA, Inc. * (a) | 143,331 | 606,290 |
Triumph Group, Inc. * | 42,185 | 314,700 |
V2X, Inc. * | 6,351 | 324,346 |
Virgin Galactic Holdings, Inc. * (a) | 179,710 | 265,971 |
9,101,888 | ||
Air Freight & Logistics — 0.4% | ||
Air Transport Services Group, Inc. * | 30,354 | 594,028 |
Forward Air Corp. | 14,133 | 910,307 |
Hub Group, Inc., Class A * | 17,275 | 1,187,656 |
2,691,991 | ||
Automobile Components — 1.5% | ||
American Axle & Manufacturing Holdings, Inc. * | 64,375 | 434,531 |
Dana, Inc. | 70,652 | 811,085 |
Dorman Products, Inc. * | 15,588 | 969,262 |
Gentherm, Inc. * | 18,145 | 729,792 |
LCI Industries (a) | 13,932 | 1,511,483 |
Luminar Technologies, Inc. * (a) | 143,559 | 455,082 |
Mobileye Global, Inc., Class A (Israel) * (a) | 41,947 | 1,496,249 |
Patrick Industries, Inc. | 11,486 | 863,173 |
QuantumScape Corp. * (a) | 187,134 | 976,839 |
Standard Motor Products, Inc. | 10,272 | 358,801 |
XPEL, Inc. * (b) | 11,696 | 541,525 |
9,147,822 | ||
Automobiles — 0.2% | ||
Fisker, Inc. * (a) | 105,520 | 474,840 |
Winnebago Industries, Inc. (a) | 16,617 | 962,955 |
1,437,795 | ||
Banks — 10.0% | ||
1st Source Corp. | 9,374 | 427,642 |
Amalgamated Financial Corp. | 9,763 | 178,077 |
Amerant Bancorp, Inc. | 14,822 | 270,205 |
Ameris Bancorp | 35,746 | 1,333,326 |
Associated Banc-Corp. | 83,000 | 1,345,430 |
Atlantic Union Bankshares Corp. (a) | 41,255 | 1,188,557 |
Axos Financial, Inc. * | 28,850 | 1,039,466 |
Banc of California, Inc. | 28,818 | 323,050 |
BancFirst Corp. | 7,974 | 646,771 |
Bancorp, Inc. (The) * | 29,853 | 1,064,259 |
Bank of Hawaii Corp. (a) | 21,847 | 1,079,023 |
BankUnited, Inc. | 40,927 | 892,618 |
Banner Corp. | 18,885 | 797,136 |
Berkshire Hills Bancorp, Inc. | 24,205 | 474,660 |
Brookline Bancorp, Inc. | 48,769 | 396,980 |
INVESTMENTS | SHARES | VALUE($) |
Banks — continued | ||
Capitol Federal Financial, Inc. | 69,658 | 362,222 |
Cathay General Bancorp | 39,894 | 1,352,806 |
City Holding Co. (a) | 8,250 | 748,935 |
Columbia Financial, Inc. * | 15,647 | 251,917 |
Community Bank System, Inc. | 29,436 | 1,175,968 |
Community Trust Bancorp, Inc. | 8,414 | 316,030 |
Customers Bancorp, Inc. * | 15,492 | 622,933 |
CVB Financial Corp. (a) | 72,803 | 1,137,183 |
Dime Community Bancshares, Inc. | 19,218 | 353,419 |
Eagle Bancorp, Inc. | 16,453 | 320,504 |
Eastern Bankshares, Inc. | 86,334 | 950,537 |
Enterprise Financial Services Corp. | 20,564 | 715,010 |
FB Financial Corp. | 19,302 | 566,900 |
First Bancorp (a) | 22,598 | 655,794 |
First BanCorp (Puerto Rico) | 98,059 | 1,309,088 |
First Busey Corp. (a) | 28,584 | 567,678 |
First Commonwealth Financial Corp. | 56,316 | 685,929 |
First Financial Bancorp | 52,322 | 967,957 |
First Hawaiian, Inc. | 70,184 | 1,258,399 |
First Interstate BancSystem, Inc., Class A | 45,625 | 1,052,569 |
First Merchants Corp. | 32,848 | 897,079 |
Fulton Financial Corp. | 90,217 | 1,171,919 |
German American Bancorp, Inc. | 16,262 | 444,440 |
Heartland Financial USA, Inc. | 21,343 | 584,798 |
Heritage Financial Corp. | 19,274 | 313,588 |
Hilltop Holdings, Inc. | 25,414 | 701,935 |
Hope Bancorp, Inc. | 66,011 | 578,256 |
Independent Bank Corp. | 24,273 | 1,184,522 |
Independent Bank Group, Inc. | 19,753 | 698,269 |
International Bancshares Corp. | 29,347 | 1,286,279 |
Kearny Financial Corp. | 36,227 | 251,415 |
Lakeland Bancorp, Inc. | 35,766 | 403,440 |
Lakeland Financial Corp. | 13,991 | 689,057 |
Live Oak Bancshares, Inc. | 18,058 | 520,973 |
National Bank Holdings Corp., Class A | 20,744 | 646,798 |
NBT Bancorp, Inc. | 25,971 | 869,249 |
Nicolet Bankshares, Inc. | 7,053 | 513,599 |
Northfield Bancorp, Inc. | 21,772 | 187,239 |
Northwest Bancshares, Inc. (a) | 69,896 | 728,316 |
OceanFirst Financial Corp. | 32,684 | 413,779 |
OFG Bancorp (Puerto Rico) | 25,918 | 767,691 |
Origin Bancorp, Inc. | 15,962 | 472,316 |
Pacific Premier Bancorp, Inc. | 52,739 | 1,002,041 |
PacWest Bancorp (a) | 65,196 | 461,588 |
Park National Corp. (a) | 7,910 | 801,995 |
Pathward Financial, Inc. | 14,429 | 653,489 |
Preferred Bank | 7,191 | 428,368 |
Premier Financial Corp. | 19,652 | 340,962 |
Provident Financial Services, Inc. | 41,542 | 583,665 |
Renasant Corp. | 30,873 | 752,992 |
Republic Bancorp, Inc., Class A | 4,880 | 215,647 |
S&T Bancorp, Inc. | 21,036 | 541,887 |
Sandy Spring Bancorp, Inc. | 24,675 | 504,604 |
Seacoast Banking Corp. of Florida | 46,800 | 945,828 |
126 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Banks — continued | ||
ServisFirst Bancshares, Inc. | 26,935 | 1,270,255 |
Simmons First National Corp., Class A | 69,436 | 986,686 |
Southside Bancshares, Inc. | 15,957 | 426,052 |
Stellar Bancorp, Inc. | 25,799 | 560,870 |
Stock Yards Bancorp, Inc. | 14,833 | 580,119 |
Texas Capital Bancshares, Inc. * | 26,397 | 1,453,419 |
Tompkins Financial Corp. (a) | 6,877 | 344,400 |
Towne Bank | 37,851 | 906,153 |
TriCo Bancshares | 18,292 | 591,746 |
Triumph Financial, Inc. * | 11,910 | 741,398 |
Trustmark Corp. | 33,582 | 675,334 |
United Community Banks, Inc. | 65,362 | 1,443,847 |
Veritex Holdings, Inc. | 29,842 | 513,879 |
WaFd, Inc. | 35,595 | 878,485 |
WesBanco, Inc. | 32,648 | 796,285 |
Westamerica BanCorp | 14,656 | 692,349 |
WSFS Financial Corp. | 33,575 | 1,188,555 |
62,436,833 | ||
Beverages — 0.2% | ||
Duckhorn Portfolio, Inc. (The) * | 23,457 | 244,657 |
MGP Ingredients, Inc. (a) | 8,596 | 813,697 |
Vita Coco Co., Inc. (The) * (a) | 16,759 | 454,169 |
1,512,523 | ||
Biotechnology — 6.0% | ||
Agios Pharmaceuticals, Inc. * | 30,659 | 644,146 |
Akero Therapeutics, Inc. * | 30,585 | 364,573 |
Alector, Inc. * | 34,123 | 177,440 |
Allogene Therapeutics, Inc. * (a) | 62,689 | 176,783 |
AnaptysBio, Inc. * (a) | 10,360 | 168,972 |
Arcellx, Inc. * | 17,416 | 613,914 |
Arcus Biosciences, Inc. * | 29,498 | 463,414 |
Arcutis Biotherapeutics, Inc. * (a) | 28,147 | 63,331 |
Ardelyx, Inc. * (a) | 119,818 | 473,281 |
Aurinia Pharmaceuticals, Inc. (Canada) * (a) | 78,878 | 578,964 |
Avid Bioservices, Inc. * | 34,496 | 212,150 |
Avidity Biosciences, Inc. * | 35,050 | 180,507 |
Beam Therapeutics, Inc. * (a) | 37,459 | 791,883 |
BioCryst Pharmaceuticals, Inc. * (a) | 104,214 | 572,135 |
Biohaven Ltd. * (a) | 35,233 | 934,027 |
Bridgebio Pharma, Inc. * | 66,125 | 1,721,895 |
Catalyst Pharmaceuticals, Inc. * | 55,101 | 683,803 |
Celldex Therapeutics, Inc. * | 25,988 | 611,238 |
Cogent Biosciences, Inc. * | 40,894 | 333,695 |
Coherus Biosciences, Inc. * (a) | 49,721 | 166,565 |
Day One Biopharmaceuticals, Inc. * | 30,618 | 362,211 |
Deciphera Pharmaceuticals, Inc. * | 30,779 | 369,040 |
Dynavax Technologies Corp. * (a) | 70,833 | 1,006,537 |
Editas Medicine, Inc. * (a) | 44,898 | 299,919 |
Enanta Pharmaceuticals, Inc. * | 10,890 | 98,228 |
EQRx, Inc. * | 152,805 | 333,115 |
Fate Therapeutics, Inc. * | 46,074 | 83,394 |
FibroGen, Inc. * | 50,228 | 27,173 |
ImmunityBio, Inc. * (a) | 79,284 | 248,952 |
INVESTMENTS | SHARES | VALUE($) |
Biotechnology — continued | ||
ImmunoGen, Inc. * | 124,595 | 1,851,482 |
Immunovant, Inc. * | 26,595 | 878,965 |
Inhibrx, Inc. * | 13,453 | 208,118 |
Insmed, Inc. * | 79,092 | 1,982,045 |
Iovance Biotherapeutics, Inc. * | 117,001 | 446,944 |
Ironwood Pharmaceuticals, Inc. * | 75,510 | 677,325 |
Janux Therapeutics, Inc. * (a) | 10,364 | 66,537 |
Keros Therapeutics, Inc. * | 12,563 | 358,548 |
Krystal Biotech, Inc. * | 13,171 | 1,539,295 |
Kura Oncology, Inc. * | 40,757 | 344,397 |
Kymera Therapeutics, Inc. * | 21,938 | 256,016 |
Lyell Immunopharma, Inc. * (a) | 87,860 | 145,408 |
Mirati Therapeutics, Inc. * | 34,410 | 1,910,787 |
Morphic Holding, Inc. * | 21,615 | 431,219 |
Myriad Genetics, Inc. * | 45,032 | 701,599 |
Novavax, Inc. * (a) | 51,923 | 345,807 |
Nuvalent, Inc., Class A * | 14,474 | 753,951 |
OmniAb Operations, Inc. ‡ * | 2,112 | — |
Protagonist Therapeutics, Inc. * | 31,644 | 460,104 |
Prothena Corp. plc (Ireland) * (a) | 21,498 | 783,817 |
Recursion Pharmaceuticals, Inc., Class A * (a) | 85,287 | 450,315 |
REGENXBIO, Inc. * | 22,243 | 286,712 |
Relay Therapeutics, Inc. * | 49,495 | 326,667 |
Replimune Group, Inc. * | 28,547 | 415,930 |
REVOLUTION Medicines, Inc. * | 54,037 | 1,069,933 |
Rhythm Pharmaceuticals, Inc. * (a) | 26,604 | 614,818 |
Rocket Pharmaceuticals, Inc. * | 37,609 | 680,723 |
Sage Therapeutics, Inc. * | 28,656 | 536,727 |
Sana Biotechnology, Inc. * (a) | 53,073 | 157,096 |
Seres Therapeutics, Inc. * | 52,886 | 80,916 |
SpringWorks Therapeutics, Inc. * | 29,251 | 669,848 |
Syndax Pharmaceuticals, Inc. * | 35,921 | 505,768 |
Travere Therapeutics, Inc. * | 37,538 | 243,246 |
Twist Bioscience Corp. * | 31,561 | 497,401 |
Veracyte, Inc. * | 40,009 | 828,986 |
Vericel Corp. * | 26,204 | 921,857 |
Verve Therapeutics, Inc. * (a) | 25,587 | 308,067 |
Viking Therapeutics, Inc. * (a) | 55,015 | 539,697 |
Viridian Therapeutics, Inc. * | 21,822 | 272,775 |
Xencor, Inc. * | 33,336 | 578,380 |
Zentalis Pharmaceuticals, Inc. * | 31,061 | 508,158 |
37,397,669 | ||
Broadline Retail — 0.3% | ||
Kohl's Corp. (a) | 60,818 | 1,371,446 |
Nordstrom, Inc. (a) | 53,286 | 744,938 |
2,116,384 | ||
Building Products — 1.6% | ||
American Woodmark Corp. * | 9,009 | 605,675 |
Apogee Enterprises, Inc. | 12,142 | 521,135 |
AZZ, Inc. | 13,754 | 650,152 |
Gibraltar Industries, Inc. * | 16,731 | 1,018,249 |
Griffon Corp. | 22,528 | 899,768 |
Hayward Holdings, Inc. * | 69,155 | 726,128 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 127 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Building Products — continued | ||
Janus International Group, Inc. * | 50,065 | 468,608 |
JELD-WEN Holding, Inc. * | 46,780 | 530,017 |
Masonite International Corp. * | 12,102 | 957,752 |
Masterbrand, Inc. * | 70,223 | 780,178 |
PGT Innovations, Inc. * | 32,086 | 960,655 |
Quanex Building Products Corp. | 18,125 | 486,656 |
Resideo Technologies, Inc. * | 81,209 | 1,175,906 |
Tecnoglass, Inc. | 11,271 | 368,336 |
10,149,215 | ||
Capital Markets — 2.5% | ||
Artisan Partners Asset Management, Inc., Class A (a) | 37,661 | 1,242,813 |
AssetMark Financial Holdings, Inc. * | 11,911 | 284,792 |
Avantax, Inc. * | 20,217 | 521,801 |
B. Riley Financial, Inc. (a) | 9,080 | 328,787 |
BGC Group, Inc., Class A | 214,707 | 1,260,330 |
Brightsphere Investment Group, Inc. | 17,804 | 278,811 |
Donnelley Financial Solutions, Inc. * | 13,707 | 746,072 |
Hamilton Lane, Inc., Class A | 20,163 | 1,696,111 |
Moelis & Co., Class A (a) | 36,609 | 1,524,399 |
Open Lending Corp. * | 54,435 | 326,066 |
Piper Sandler Cos. | 8,254 | 1,154,322 |
PJT Partners, Inc., Class A | 12,239 | 959,048 |
StepStone Group, Inc., Class A | 27,987 | 792,032 |
StoneX Group, Inc. * | 9,830 | 936,996 |
TPG, Inc. (a) | 33,393 | 922,982 |
Victory Capital Holdings, Inc., Class A | 20,255 | 596,712 |
Virtu Financial, Inc., Class A | 51,721 | 956,321 |
Virtus Investment Partners, Inc. | 3,746 | 690,125 |
WisdomTree, Inc. (a) | 62,829 | 389,540 |
15,608,060 | ||
Chemicals — 1.3% | ||
AdvanSix, Inc. | 14,971 | 412,451 |
Ecovyst, Inc. * | 56,456 | 519,395 |
Ginkgo Bioworks Holdings, Inc. * (a) | 730,827 | 1,001,233 |
Ingevity Corp. * | 18,531 | 746,429 |
Innospec, Inc. | 13,675 | 1,340,150 |
Kronos Worldwide, Inc. (a) | 12,022 | 82,952 |
LSB Industries, Inc. * | 29,436 | 268,162 |
Mativ Holdings, Inc. | 30,093 | 394,218 |
Minerals Technologies, Inc. | 17,894 | 967,350 |
Perimeter Solutions SA * | 80,736 | 258,355 |
PureCycle Technologies, Inc. * (a) | 74,857 | 333,114 |
Stepan Co. | 11,677 | 873,440 |
Trinseo plc | 19,350 | 119,776 |
Tronox Holdings plc (a) | 63,806 | 682,086 |
7,999,111 | ||
Commercial Services & Supplies — 2.4% | ||
ABM Industries, Inc. | 36,379 | 1,431,150 |
ACV Auctions, Inc., Class A * | 74,298 | 990,392 |
Brady Corp., Class A | 25,251 | 1,299,417 |
BrightView Holdings, Inc. * | 21,064 | 141,971 |
INVESTMENTS | SHARES | VALUE($) |
Commercial Services & Supplies — continued | ||
Brink's Co. (The) | 25,538 | 1,707,471 |
Cimpress plc (Ireland) * | 9,712 | 579,515 |
CoreCivic, Inc. * | 62,484 | 793,547 |
Deluxe Corp. | 23,983 | 408,910 |
GEO Group, Inc. (The) * (a) | 69,351 | 606,128 |
Healthcare Services Group, Inc. | 40,808 | 387,676 |
HNI Corp. | 25,605 | 888,237 |
Matthews International Corp., Class A | 16,755 | 593,797 |
MillerKnoll, Inc. | 41,629 | 978,282 |
Montrose Environmental Group, Inc. * | 15,256 | 352,719 |
OPENLANE, Inc. * | 60,196 | 808,432 |
Pitney Bowes, Inc. (a) | 84,228 | 272,056 |
SP Plus Corp. * | 10,803 | 545,876 |
Steelcase, Inc., Class A | 51,473 | 561,570 |
UniFirst Corp. | 8,302 | 1,365,098 |
14,712,244 | ||
Communications Equipment — 1.0% | ||
ADTRAN Holdings, Inc. | 38,932 | 255,783 |
Clearfield, Inc. * (a) | 7,130 | 171,263 |
CommScope Holding Co., Inc. * | 116,554 | 172,500 |
Digi International, Inc. * | 19,780 | 498,060 |
Extreme Networks, Inc. * | 70,272 | 1,449,009 |
Harmonic, Inc. * | 61,553 | 664,157 |
Infinera Corp. * (a) | 109,823 | 321,781 |
NetScout Systems, Inc. * | 39,685 | 866,324 |
Viasat, Inc. * (a) | 40,936 | 754,860 |
Viavi Solutions, Inc. * | 122,340 | 951,805 |
6,105,542 | ||
Construction & Engineering — 1.1% | ||
Ameresco, Inc., Class A * (a) | 17,681 | 462,358 |
Construction Partners, Inc., Class A * | 24,054 | 924,876 |
Dycom Industries, Inc. * | 16,129 | 1,373,868 |
Granite Construction, Inc. (a) | 24,157 | 977,876 |
MYR Group, Inc. * | 9,188 | 1,064,246 |
Primoris Services Corp. | 29,329 | 881,630 |
Sterling Infrastructure, Inc. * | 16,954 | 1,235,099 |
6,919,953 | ||
Construction Materials — 0.0% ^ | ||
United States Lime & Minerals, Inc. | 1,125 | 222,739 |
Consumer Finance — 1.0% | ||
Bread Financial Holdings, Inc. | 27,626 | 746,731 |
Encore Capital Group, Inc. * | 12,921 | 486,863 |
Enova International, Inc. * | 16,927 | 675,049 |
Green Dot Corp., Class A * | 24,756 | 276,772 |
LendingClub Corp. * | 59,776 | 310,237 |
Navient Corp. | 48,149 | 766,051 |
Nelnet, Inc., Class A | 9,816 | 832,495 |
PRA Group, Inc. * | 21,585 | 265,711 |
PROG Holdings, Inc. * | 25,142 | 688,639 |
128 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Consumer Finance — continued | ||
Upstart Holdings, Inc. * | 39,683 | 953,583 |
World Acceptance Corp. * (a) | 1,879 | 185,307 |
6,187,438 | ||
Consumer Staples Distribution & Retail — 0.9% | ||
Andersons, Inc. (The) | 17,316 | 868,051 |
Chefs' Warehouse, Inc. (The) * | 19,411 | 369,391 |
Grocery Outlet Holding Corp. * | 54,330 | 1,503,311 |
Ingles Markets, Inc., Class A | 7,974 | 639,674 |
PriceSmart, Inc. | 14,173 | 885,671 |
SpartanNash Co. | 19,109 | 429,761 |
United Natural Foods, Inc. * | 32,232 | 469,943 |
Weis Markets, Inc. (a) | 9,025 | 587,528 |
5,753,330 | ||
Containers & Packaging — 0.2% | ||
Myers Industries, Inc. | 20,244 | 339,492 |
Pactiv Evergreen, Inc. | 21,587 | 186,080 |
TriMas Corp. | 22,782 | 551,552 |
1,077,124 | ||
Diversified Consumer Services — 1.6% | ||
Adtalem Global Education, Inc. * | 22,846 | 1,183,423 |
Chegg, Inc. * | 63,429 | 477,620 |
Coursera, Inc. * | 56,801 | 984,929 |
European Wax Center, Inc., Class A * (a) | 19,374 | 286,154 |
Frontdoor, Inc. * | 44,179 | 1,278,099 |
Graham Holdings Co., Class B | 2,027 | 1,173,066 |
Laureate Education, Inc., Class A | 74,360 | 1,051,450 |
Mister Car Wash, Inc. * (a) | 49,846 | 259,199 |
OneSpaWorld Holdings Ltd. (Bahamas) * | 48,138 | 504,486 |
Rover Group, Inc. * | 62,459 | 402,861 |
Strategic Education, Inc. | 12,106 | 996,445 |
Stride, Inc. * | 22,249 | 1,223,250 |
Udemy, Inc. * | 47,141 | 420,969 |
10,241,951 | ||
Diversified REITs — 0.6% | ||
Alexander & Baldwin, Inc. | 39,942 | 631,084 |
American Assets Trust, Inc. | 26,719 | 474,262 |
Broadstone Net Lease, Inc. | 102,997 | 1,457,407 |
Empire State Realty Trust, Inc., Class A | 71,325 | 577,019 |
Global Net Lease, Inc. | 106,887 | 848,683 |
3,988,455 | ||
Diversified Telecommunication Services — 0.4% | ||
EchoStar Corp., Class A * | 18,500 | 256,410 |
Globalstar, Inc. * (a) | 389,080 | 548,603 |
Liberty Latin America Ltd., Class A (Puerto Rico) * | 20,103 | 137,303 |
Liberty Latin America Ltd., Class C (Puerto Rico) * | 71,272 | 488,213 |
Lumen Technologies, Inc. * (a) | 554,378 | 809,392 |
2,239,921 |
INVESTMENTS | SHARES | VALUE($) |
Electric Utilities — 0.2% | ||
MGE Energy, Inc. | 19,885 | 1,424,363 |
Electrical Equipment — 0.9% | ||
Encore Wire Corp. | 9,239 | 1,652,210 |
Enovix Corp. * (a) | 73,099 | 651,312 |
Fluence Energy, Inc. * (a) | 22,161 | 383,829 |
FREYR Battery SA (Norway) * (a) | 65,307 | 209,635 |
FuelCell Energy, Inc. * (a) | 223,712 | 243,846 |
GrafTech International Ltd. | 105,933 | 365,469 |
NEXTracker, Inc., Class A * (a) | 26,928 | 936,017 |
SES AI Corp. * (a) | 79,464 | 143,830 |
Stem, Inc. * (a) | 81,402 | 275,139 |
SunPower Corp. * (a) | 47,207 | 201,574 |
Vicor Corp. * | 12,334 | 477,819 |
5,540,680 | ||
Electronic Equipment, Instruments & Components — 2.1% | ||
Benchmark Electronics, Inc. | 19,620 | 475,000 |
Crane NXT Co. | 26,556 | 1,380,912 |
CTS Corp. | 17,243 | 645,061 |
ePlus, Inc. * | 14,812 | 925,750 |
Itron, Inc. * | 24,997 | 1,431,828 |
Knowles Corp. * | 50,125 | 651,124 |
Lightwave Logic, Inc. * (a) | 64,054 | 290,165 |
Methode Electronics, Inc. | 19,803 | 452,895 |
Mirion Technologies, Inc. * | 99,488 | 689,452 |
Napco Security Technologies, Inc. | 15,979 | 293,534 |
OSI Systems, Inc. * | 8,467 | 882,854 |
PAR Technology Corp. * (a) | 15,096 | 440,652 |
PC Connection, Inc. | 6,206 | 332,517 |
Plexus Corp. * | 15,115 | 1,486,107 |
ScanSource, Inc. * | 13,693 | 416,267 |
SmartRent, Inc. * | 98,011 | 236,206 |
TTM Technologies, Inc. * | 57,126 | 656,378 |
Vishay Intertechnology, Inc. | 69,816 | 1,552,708 |
13,239,410 | ||
Energy Equipment & Services — 2.3% | ||
Archrock, Inc. | 75,744 | 959,676 |
Atlas Energy Solutions, Inc. | 9,740 | 177,365 |
Cactus, Inc., Class A | 35,530 | 1,667,778 |
Core Laboratories, Inc. (a) | 25,675 | 549,959 |
Diamond Offshore Drilling, Inc. * | 56,271 | 698,323 |
Dril-Quip, Inc. * | 18,793 | 407,056 |
Helix Energy Solutions Group, Inc. * | 77,966 | 764,067 |
Liberty Energy, Inc. | 85,281 | 1,680,036 |
Nabors Industries Ltd. * | 4,937 | 482,049 |
Oceaneering International, Inc. * | 55,430 | 1,218,906 |
Patterson-UTI Energy, Inc. | 176,283 | 2,238,794 |
ProFrac Holding Corp., Class A * | 11,401 | 107,397 |
ProPetro Holding Corp. * | 47,762 | 500,546 |
RPC, Inc. (a) | 46,824 | 389,576 |
Tidewater, Inc. * | 26,651 | 1,821,596 |
US Silica Holdings, Inc. * | 42,413 | 511,925 |
14,175,049 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 129 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Entertainment — 0.8% | ||
AMC Entertainment Holdings, Inc., Class A * | 28,549 | 304,906 |
Atlanta Braves Holdings, Inc., Class A * (a) | 5,672 | 215,025 |
Atlanta Braves Holdings, Inc., Class C * | 21,350 | 742,553 |
Cinemark Holdings, Inc. * (a) | 59,539 | 981,798 |
IMAX Corp. * | 24,635 | 448,603 |
Lions Gate Entertainment Corp., Class A * | 33,524 | 263,499 |
Lions Gate Entertainment Corp., Class B * | 72,373 | 539,903 |
Madison Square Garden Entertainment Corp. * | 23,398 | 713,171 |
Sphere Entertainment Co. * (a) | 14,312 | 471,008 |
Vivid Seats, Inc., Class A * | 20,145 | 118,453 |
4,798,919 | ||
Financial Services — 2.2% | ||
Affirm Holdings, Inc. * (a) | 118,034 | 2,078,579 |
AvidXchange Holdings, Inc. * | 93,390 | 806,890 |
Cannae Holdings, Inc. * | 37,525 | 613,534 |
Compass Diversified Holdings | 34,400 | 590,992 |
EVERTEC, Inc. (Puerto Rico) | 35,542 | 1,129,525 |
Federal Agricultural Mortgage Corp., Class C | 5,117 | 760,181 |
International Money Express, Inc. * | 19,484 | 310,965 |
Marqeta, Inc., Class A * | 238,198 | 1,231,484 |
Merchants Bancorp | 14,265 | 426,381 |
NMI Holdings, Inc., Class A * | 45,257 | 1,237,779 |
Payoneer Global, Inc. * | 142,231 | 823,517 |
Remitly Global, Inc. * | 72,749 | 1,959,130 |
Repay Holdings Corp. * | 41,443 | 248,243 |
Rocket Cos., Inc., Class A * (a) | 67,074 | 495,677 |
Walker & Dunlop, Inc. | 18,336 | 1,188,173 |
13,901,050 | ||
Food Products — 0.7% | ||
B&G Foods, Inc. | 39,762 | 320,879 |
Beyond Meat, Inc. * (a) | 35,410 | 211,398 |
Calavo Growers, Inc. | 9,777 | 247,749 |
Cal-Maine Foods, Inc. (a) | 22,353 | 1,012,815 |
Fresh Del Monte Produce, Inc. | 18,529 | 463,225 |
Hain Celestial Group, Inc. (The) * | 49,188 | 543,527 |
Mission Produce, Inc. * | 23,356 | 219,780 |
Sovos Brands, Inc. * (a) | 34,544 | 749,950 |
Tootsie Roll Industries, Inc. | 9,576 | 297,909 |
Utz Brands, Inc. (a) | 37,483 | 456,918 |
4,524,150 | ||
Gas Utilities — 0.3% | ||
Chesapeake Utilities Corp. | 9,784 | 866,960 |
Northwest Natural Holding Co. | 19,832 | 728,033 |
1,594,993 | ||
Ground Transportation — 0.8% | ||
ArcBest Corp. | 13,212 | 1,438,523 |
Heartland Express, Inc. | 25,210 | 293,949 |
Marten Transport Ltd. | 31,749 | 558,147 |
RXO, Inc. * | 64,334 | 1,126,488 |
Schneider National, Inc., Class B | 20,660 | 523,318 |
INVESTMENTS | SHARES | VALUE($) |
Ground Transportation — continued | ||
Universal Logistics Holdings, Inc. | 3,754 | 84,014 |
Werner Enterprises, Inc. | 34,863 | 1,266,224 |
5,290,663 | ||
Health Care Equipment & Supplies — 2.2% | ||
Alphatec Holdings, Inc. * (a) | 44,338 | 407,023 |
AtriCure, Inc. * | 26,046 | 902,233 |
Atrion Corp. | 731 | 249,987 |
Avanos Medical, Inc. * | 25,779 | 473,302 |
Axonics, Inc. * | 27,753 | 1,421,231 |
Embecta Corp. | 31,512 | 476,461 |
Establishment Labs Holdings, Inc. (Costa Rica) * (a) | 12,617 | 369,426 |
Glaukos Corp. * | 26,757 | 1,824,827 |
Integer Holdings Corp. * | 18,316 | 1,486,710 |
LeMaitre Vascular, Inc. | 10,902 | 529,619 |
LivaNova plc * | 29,638 | 1,453,744 |
Nevro Corp. * | 19,862 | 286,609 |
Omnicell, Inc. * (a) | 24,863 | 883,631 |
OrthoPediatrics Corp. * | 8,605 | 210,478 |
Outset Medical, Inc. * | 27,381 | 96,929 |
Paragon 28, Inc. * | 20,424 | 176,259 |
PROCEPT BioRobotics Corp. * (a) | 24,102 | 645,693 |
Silk Road Medical, Inc. * | 21,354 | 160,369 |
Tandem Diabetes Care, Inc. * | 35,793 | 619,219 |
TransMedics Group, Inc. * (a) | 17,940 | 672,391 |
Treace Medical Concepts, Inc. * | 23,695 | 237,661 |
Varex Imaging Corp. * | 22,219 | 401,053 |
13,984,855 | ||
Health Care Providers & Services — 2.3% | ||
23andMe Holding Co. * (a) | 167,192 | 141,628 |
AdaptHealth Corp. * | 44,914 | 329,220 |
Addus HomeCare Corp. * | 8,922 | 703,946 |
Agiliti, Inc. * (a) | 19,300 | 108,659 |
Alignment Healthcare, Inc. * | 53,886 | 370,736 |
Amedisys, Inc. * | 17,942 | 1,641,513 |
Apollo Medical Holdings, Inc. * (a) | 23,137 | 722,106 |
Brookdale Senior Living, Inc. * | 103,515 | 404,744 |
Castle Biosciences, Inc. * | 14,743 | 230,286 |
Cross Country Healthcare, Inc. * | 18,513 | 428,761 |
DocGo, Inc. * | 48,507 | 288,132 |
Fulgent Genetics, Inc. * | 11,191 | 267,912 |
Guardant Health, Inc. * | 64,727 | 1,675,135 |
Hims & Hers Health, Inc. * | 80,246 | 479,871 |
ModivCare, Inc. * | 6,781 | 286,429 |
National HealthCare Corp. | 7,419 | 499,744 |
National Research Corp. | 7,974 | 336,981 |
NeoGenomics, Inc. * | 70,166 | 983,727 |
OPKO Health, Inc. * (a) | 242,347 | 302,934 |
Owens & Minor, Inc. * | 42,087 | 603,107 |
Patterson Cos., Inc. | 46,805 | 1,425,680 |
Pediatrix Medical Group, Inc. * | 45,508 | 521,522 |
130 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Health Care Providers & Services — continued | ||
RadNet, Inc. * | 33,177 | 894,452 |
US Physical Therapy, Inc. | 8,239 | 692,982 |
14,340,207 | ||
Health Care REITs — 0.8% | ||
CareTrust REIT, Inc. | 54,706 | 1,177,273 |
LTC Properties, Inc. | 22,773 | 719,855 |
National Health Investors, Inc. | 23,872 | 1,194,555 |
Sabra Health Care REIT, Inc. | 127,169 | 1,734,585 |
Universal Health Realty Income Trust | 6,995 | 268,888 |
5,095,156 | ||
Health Care Technology — 0.6% | ||
American Well Corp., Class A * | 138,445 | 161,981 |
Definitive Healthcare Corp. * | 25,454 | 146,615 |
Health Catalyst, Inc. * | 31,328 | 234,647 |
HealthStream, Inc. | 13,329 | 338,557 |
Multiplan Corp. * | 150,025 | 253,542 |
NextGen Healthcare, Inc. * (a) | 29,854 | 714,108 |
Phreesia, Inc. * | 28,088 | 383,682 |
Schrodinger, Inc. * (a) | 30,004 | 651,087 |
Sharecare, Inc. * | 168,910 | 177,355 |
Veradigm, Inc. * | 60,091 | 792,600 |
3,854,174 | ||
Hotel & Resort REITs — 1.1% | ||
DiamondRock Hospitality Co. | 115,288 | 891,176 |
Park Hotels & Resorts, Inc. | 118,650 | 1,368,035 |
Pebblebrook Hotel Trust (a) | 66,272 | 790,625 |
RLJ Lodging Trust | 86,606 | 814,096 |
Service Properties Trust | 91,001 | 659,757 |
Summit Hotel Properties, Inc. | 59,164 | 333,685 |
Sunstone Hotel Investors, Inc. | 113,952 | 1,059,754 |
Xenia Hotels & Resorts, Inc. | 58,994 | 686,100 |
6,603,228 | ||
Hotels, Restaurants & Leisure — 2.4% | ||
Bally's Corp. * | 16,063 | 146,495 |
BJ's Restaurants, Inc. * | 12,968 | 333,537 |
Bloomin' Brands, Inc. (a) | 47,904 | 1,118,079 |
Bowlero Corp., Class A * (a) | 25,404 | 256,326 |
Brinker International, Inc. * | 24,360 | 826,291 |
Cheesecake Factory, Inc. (The) (a) | 25,941 | 805,987 |
Cracker Barrel Old Country Store, Inc. (a) | 12,182 | 808,398 |
Dave & Buster's Entertainment, Inc. * | 18,880 | 659,667 |
Denny's Corp. * | 30,500 | 262,910 |
Dine Brands Global, Inc. | 8,553 | 421,577 |
Dutch Bros, Inc., Class A * (a) | 28,637 | 697,025 |
Everi Holdings, Inc. * | 48,397 | 522,204 |
First Watch Restaurant Group, Inc. * | 13,096 | 218,834 |
Golden Entertainment, Inc. | 11,911 | 373,529 |
Jack in the Box, Inc. | 11,060 | 698,771 |
Krispy Kreme, Inc. (a) | 46,258 | 598,116 |
Monarch Casino & Resort, Inc. | 7,375 | 443,901 |
Papa John's International, Inc. (a) | 18,009 | 1,170,945 |
INVESTMENTS | SHARES | VALUE($) |
Hotels, Restaurants & Leisure — continued | ||
Portillo's, Inc., Class A * | 26,363 | 394,127 |
Red Rock Resorts, Inc., Class A | 26,774 | 1,058,912 |
Sabre Corp. * | 182,778 | 639,723 |
Shake Shack, Inc., Class A * | 20,620 | 1,155,545 |
Six Flags Entertainment Corp. * | 39,392 | 783,901 |
Sweetgreen, Inc., Class A * | 49,959 | 516,076 |
Target Hospitality Corp. * | 15,088 | 207,158 |
15,118,034 | ||
Household Durables — 1.6% | ||
Cavco Industries, Inc. * | 4,440 | 1,107,824 |
Century Communities, Inc. | 15,673 | 963,889 |
GoPro, Inc., Class A * | 69,558 | 174,591 |
Green Brick Partners, Inc. * | 13,980 | 541,026 |
Helen of Troy Ltd. * | 13,251 | 1,302,838 |
iRobot Corp. * | 15,176 | 499,746 |
La-Z-Boy, Inc. | 23,803 | 696,000 |
LGI Homes, Inc. * (a) | 11,263 | 1,064,466 |
M/I Homes, Inc. * | 15,286 | 1,254,522 |
Sonos, Inc. * | 70,543 | 760,453 |
Tri Pointe Homes, Inc. * | 54,447 | 1,364,442 |
Vizio Holding Corp., Class A * | 54,852 | 279,197 |
10,008,994 | ||
Household Products — 0.9% | ||
Central Garden & Pet Co. * | 5,236 | 228,447 |
Central Garden & Pet Co., Class A * | 22,551 | 895,049 |
Energizer Holdings, Inc. | 36,559 | 1,154,533 |
Spectrum Brands Holdings, Inc. | 19,622 | 1,477,929 |
WD-40 Co. | 7,462 | 1,577,467 |
5,333,425 | ||
Independent Power and Renewable Electricity Producers — 0.2% | ||
Altus Power, Inc. * | 33,230 | 176,451 |
Montauk Renewables, Inc. * (a) | 35,551 | 357,643 |
Sunnova Energy International, Inc. * (a) | 55,693 | 508,477 |
1,042,571 | ||
Industrial REITs — 0.4% | ||
Innovative Industrial Properties, Inc. (a) | 15,416 | 1,107,331 |
LXP Industrial Trust | 160,932 | 1,272,972 |
2,380,303 | ||
Insurance — 2.0% | ||
AMERISAFE, Inc. | 10,550 | 537,733 |
Argo Group International Holdings Ltd. | 19,339 | 577,076 |
BRP Group, Inc., Class A * | 35,065 | 733,910 |
CNO Financial Group, Inc. | 62,146 | 1,440,544 |
Employers Holdings, Inc. | 14,331 | 544,578 |
F&G Annuities & Life, Inc. (a) | 9,662 | 296,527 |
Genworth Financial, Inc., Class A * | 254,686 | 1,525,569 |
Goosehead Insurance, Inc., Class A * | 13,144 | 852,651 |
Hagerty, Inc., Class A * (a) | 13,012 | 100,453 |
Horace Mann Educators Corp. | 22,457 | 712,561 |
James River Group Holdings Ltd. | 20,691 | 284,501 |
Lemonade, Inc. * (a) | 34,105 | 373,109 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 131 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Insurance — continued | ||
Mercury General Corp. | 14,618 | 451,404 |
Oscar Health, Inc., Class A * | 76,915 | 393,805 |
Palomar Holdings, Inc. * | 13,608 | 681,489 |
ProAssurance Corp. | 28,638 | 486,846 |
Safety Insurance Group, Inc. | 8,134 | 611,433 |
SiriusPoint Ltd. (Bermuda) * | 48,658 | 479,281 |
Skyward Specialty Insurance Group, Inc. * (a) | 14,912 | 419,773 |
Stewart Information Services Corp. | 15,042 | 656,884 |
Trupanion, Inc. * (a) | 19,571 | 403,162 |
12,563,289 | ||
Interactive Media & Services — 1.0% | ||
Bumble, Inc., Class A * | 54,804 | 736,566 |
Cargurus, Inc. * | 47,719 | 822,198 |
Cars.com, Inc. * | 33,994 | 517,729 |
Eventbrite, Inc., Class A * | 45,401 | 375,920 |
Rumble, Inc. * (a) | 41,693 | 187,202 |
Shutterstock, Inc. | 13,291 | 540,678 |
TripAdvisor, Inc. * | 59,209 | 873,925 |
Vimeo, Inc. * | 86,617 | 266,780 |
Yelp, Inc. * | 37,793 | 1,594,487 |
ZipRecruiter, Inc., Class A * | 40,416 | 430,430 |
6,345,915 | ||
IT Services — 0.6% | ||
BigCommerce Holdings, Inc. * | 36,331 | 322,983 |
Fastly, Inc., Class A * | 65,368 | 958,948 |
Grid Dynamics Holdings, Inc. * | 30,248 | 306,715 |
Perficient, Inc. * | 19,149 | 1,114,280 |
Squarespace, Inc., Class A * | 24,609 | 699,142 |
Thoughtworks Holding, Inc. * | 50,672 | 171,778 |
3,573,846 | ||
Leisure Products — 0.5% | ||
Malibu Boats, Inc., Class A * | 11,338 | 494,564 |
Peloton Interactive, Inc., Class A * (a) | 184,865 | 879,957 |
Smith & Wesson Brands, Inc. (a) | 25,375 | 373,774 |
Sturm Ruger & Co., Inc. | 9,744 | 539,330 |
Vista Outdoor, Inc. * | 31,900 | 801,328 |
3,088,953 | ||
Life Sciences Tools & Services — 0.4% | ||
Adaptive Biotechnologies Corp. * | 60,463 | 268,456 |
BioLife Solutions, Inc. * | 18,891 | 190,799 |
CryoPort, Inc. * (a) | 26,880 | 260,736 |
Cytek Biosciences, Inc. * | 54,736 | 230,438 |
Maravai LifeSciences Holdings, Inc., Class A * | 60,219 | 413,102 |
Mesa Laboratories, Inc. | 2,818 | 264,413 |
OmniAb, Inc. ‡ * | 2,112 | — |
Pacific Biosciences of California, Inc. * | 128,159 | 792,023 |
SomaLogic, Inc. * (a) | 86,829 | 193,629 |
2,613,596 | ||
Machinery — 3.3% | ||
3D Systems Corp. * | 73,406 | 273,804 |
Alamo Group, Inc. | 5,678 | 910,183 |
INVESTMENTS | SHARES | VALUE($) |
Machinery — continued | ||
Albany International Corp., Class A | 17,148 | 1,399,448 |
Astec Industries, Inc. | 12,508 | 500,820 |
Barnes Group, Inc. | 27,843 | 578,856 |
Desktop Metal, Inc., Class A * (a) | 136,817 | 118,538 |
Energy Recovery, Inc. * | 31,018 | 471,474 |
Enerpac Tool Group Corp. | 30,855 | 873,196 |
EnPro Industries, Inc. | 11,499 | 1,277,079 |
ESCO Technologies, Inc. | 14,179 | 1,378,482 |
Gorman-Rupp Co. (The) | 13,392 | 395,734 |
Greenbrier Cos., Inc. (The) (a) | 16,989 | 587,650 |
Helios Technologies, Inc. | 18,169 | 939,701 |
Hillman Solutions Corp. * | 107,132 | 702,786 |
Kadant, Inc. (a) | 6,441 | 1,417,020 |
Kennametal, Inc. | 43,842 | 1,013,189 |
Lindsay Corp. | 6,055 | 756,391 |
Mueller Water Products, Inc., Class A | 86,060 | 1,064,562 |
Omega Flex, Inc. (a) | 1,836 | 134,157 |
Proto Labs, Inc. * | 14,347 | 338,733 |
SPX Technologies, Inc. * | 25,078 | 2,009,249 |
Standex International Corp. | 6,518 | 935,789 |
Symbotic, Inc. * (a) | 8,898 | 302,799 |
Tennant Co. | 10,218 | 758,380 |
Trinity Industries, Inc. | 45,017 | 937,704 |
Wabash National Corp. | 25,847 | 534,774 |
20,610,498 | ||
Marine Transportation — 0.3% | ||
Matson, Inc. | 19,404 | 1,689,118 |
Media — 0.8% | ||
Altice USA, Inc., Class A * | 126,405 | 365,310 |
AMC Networks, Inc., Class A * | 16,729 | 197,402 |
Clear Channel Outdoor Holdings, Inc. * | 193,885 | 213,274 |
DISH Network Corp., Class A * (a) | 136,479 | 668,747 |
EW Scripps Co. (The), Class A * | 32,318 | 176,779 |
Gray Television, Inc. | 43,846 | 285,876 |
Integral Ad Science Holding Corp. * | 30,157 | 346,202 |
John Wiley & Sons, Inc., Class A | 23,401 | 708,348 |
Magnite, Inc. * | 66,283 | 440,119 |
Scholastic Corp. (a) | 15,329 | 565,640 |
Sinclair, Inc. (a) | 20,502 | 222,857 |
Stagwell, Inc. * | 56,672 | 233,489 |
TechTarget, Inc. * | 13,929 | 350,732 |
Thryv Holdings, Inc. * | 16,746 | 291,883 |
WideOpenWest, Inc. * | 26,238 | 184,716 |
5,251,374 | ||
Metals & Mining — 1.7% | ||
Alpha Metallurgical Resources, Inc. | 6,697 | 1,473,072 |
Arch Resources, Inc. | 9,972 | 1,504,077 |
Carpenter Technology Corp. | 26,703 | 1,674,812 |
Century Aluminum Co. * | 28,450 | 188,054 |
Coeur Mining, Inc. * | 194,239 | 487,540 |
Compass Minerals International, Inc. | 18,556 | 457,220 |
Ivanhoe Electric, Inc. * | 44,507 | 455,752 |
132 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Metals & Mining — continued | ||
Kaiser Aluminum Corp. | 8,802 | 499,954 |
Materion Corp. | 11,345 | 1,100,238 |
Piedmont Lithium, Inc. * | 9,928 | 272,722 |
Ryerson Holding Corp. | 16,078 | 467,066 |
Schnitzer Steel Industries, Inc., Class A | 14,120 | 320,665 |
Warrior Met Coal, Inc. | 28,613 | 1,394,311 |
10,295,483 | ||
Mortgage Real Estate Investment Trusts (REITs) — 1.6% | ||
Apollo Commercial Real Estate Finance, Inc. | 71,527 | 712,409 |
Arbor Realty Trust, Inc. (a) | 102,572 | 1,293,433 |
ARMOUR Residential REIT, Inc. (a) | 25,112 | 365,882 |
Brightspire Capital, Inc. | 71,494 | 404,656 |
Chimera Investment Corp. | 124,709 | 598,603 |
Claros Mortgage Trust, Inc. | 66,210 | 690,570 |
Franklin BSP Realty Trust, Inc. | 45,209 | 570,085 |
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (a) | 58,923 | 1,009,940 |
KKR Real Estate Finance Trust, Inc. | 31,924 | 333,287 |
Ladder Capital Corp. | 62,131 | 628,144 |
MFA Financial, Inc. | 56,053 | 498,309 |
New York Mortgage Trust, Inc. | 50,182 | 390,918 |
PennyMac Mortgage Investment Trust (a) | 47,711 | 603,544 |
Ready Capital Corp. (a) | 86,897 | 819,439 |
Redwood Trust, Inc. (a) | 62,792 | 394,334 |
TPG RE Finance Trust, Inc. | 33,345 | 183,731 |
Two Harbors Investment Corp. | 52,893 | 614,088 |
10,111,372 | ||
Office REITs — 1.6% | ||
Brandywine Realty Trust | 94,646 | 353,976 |
COPT Defense Properties | 61,897 | 1,411,252 |
Douglas Emmett, Inc. (a) | 91,708 | 1,028,047 |
Easterly Government Properties, Inc. | 51,380 | 552,849 |
Equity Commonwealth | 60,344 | 1,142,915 |
Highwoods Properties, Inc. (a) | 58,119 | 1,039,749 |
Hudson Pacific Properties, Inc. (a) | 69,761 | 311,134 |
JBG SMITH Properties (a) | 51,764 | 666,203 |
Paramount Group, Inc. | 90,833 | 388,765 |
Piedmont Office Realty Trust, Inc., Class A | 68,034 | 354,457 |
SL Green Realty Corp. (a) | 35,411 | 1,037,188 |
Vornado Realty Trust (a) | 88,025 | 1,690,080 |
9,976,615 | ||
Oil, Gas & Consumable Fuels — 3.5% | ||
Callon Petroleum Co. * (a) | 30,739 | 1,148,102 |
Clean Energy Fuels Corp. * | 96,878 | 338,104 |
CNX Resources Corp. * | 88,805 | 1,928,845 |
CONSOL Energy, Inc. | 15,828 | 1,454,435 |
CVR Energy, Inc. | 16,037 | 525,212 |
Delek US Holdings, Inc. | 33,157 | 873,687 |
Earthstone Energy, Inc., Class A * | 35,083 | 742,707 |
Enviva, Inc. (a) | 17,189 | 62,224 |
Equitrans Midstream Corp. | 238,288 | 2,113,615 |
Green Plains, Inc. * (a) | 32,741 | 961,931 |
INVESTMENTS | SHARES | VALUE($) |
Oil, Gas & Consumable Fuels — continued | ||
Gulfport Energy Corp. * | 5,447 | 673,304 |
HighPeak Energy, Inc. (a) | 9,878 | 174,939 |
International Seaways, Inc. | 20,704 | 995,655 |
Kinetik Holdings, Inc. (a) | 8,285 | 293,620 |
Kosmos Energy Ltd. (Ghana) * | 253,051 | 1,832,089 |
NextDecade Corp. * (a) | 41,126 | 180,543 |
Northern Oil and Gas, Inc. | 49,258 | 1,888,552 |
Par Pacific Holdings, Inc. * | 30,897 | 1,014,039 |
Riley Exploration Permian, Inc. | 2,215 | 70,105 |
Sitio Royalties Corp. (a) | 44,915 | 1,110,299 |
Talos Energy, Inc. * | 55,260 | 856,530 |
Tellurian, Inc. * (a) | 319,995 | 220,797 |
Uranium Energy Corp. * (a) | 207,634 | 1,235,422 |
Vital Energy, Inc. * | 9,203 | 460,518 |
W&T Offshore, Inc. * | 53,168 | 220,647 |
World Kinect Corp. | 33,112 | 612,572 |
21,988,493 | ||
Paper & Forest Products — 0.2% | ||
Mercer International, Inc. (Germany) | 24,150 | 191,751 |
Sylvamo Corp. (a) | 19,574 | 867,128 |
1,058,879 | ||
Passenger Airlines — 0.7% | ||
Allegiant Travel Co. | 8,314 | 553,879 |
Frontier Group Holdings, Inc. * | 21,844 | 74,051 |
JetBlue Airways Corp. * (a) | 183,283 | 689,144 |
Joby Aviation, Inc. * (a) | 202,231 | 1,065,757 |
SkyWest, Inc. * | 23,136 | 975,645 |
Spirit Airlines, Inc. (a) | 60,038 | 689,236 |
Sun Country Airlines Holdings, Inc. * | 22,181 | 288,797 |
4,336,509 | ||
Personal Care Products — 0.5% | ||
Beauty Health Co. (The) * (a) | 45,316 | 183,530 |
Edgewell Personal Care Co. | 27,942 | 975,176 |
Herbalife Ltd. * (a) | 54,450 | 775,913 |
Medifast, Inc. | 5,990 | 414,268 |
Nu Skin Enterprises, Inc., Class A | 27,472 | 521,693 |
Olaplex Holdings, Inc. * | 61,195 | 86,897 |
USANA Health Sciences, Inc. * | 6,155 | 280,360 |
3,237,837 | ||
Pharmaceuticals — 1.4% | ||
Aclaris Therapeutics, Inc. * | 30,760 | 153,185 |
Amphastar Pharmaceuticals, Inc. * (a) | 20,953 | 948,542 |
Amylyx Pharmaceuticals, Inc. * | 22,234 | 362,636 |
Arvinas, Inc. * | 29,413 | 474,138 |
Cassava Sciences, Inc. * (a) | 21,698 | 437,215 |
Corcept Therapeutics, Inc. * | 49,628 | 1,393,554 |
Enliven Therapeutics, Inc. * (a) | 10,415 | 129,042 |
Harmony Biosciences Holdings, Inc. * | 18,484 | 435,113 |
Innoviva, Inc. * | 31,502 | 390,940 |
Ligand Pharmaceuticals, Inc. * | 8,975 | 469,303 |
Pacira BioSciences, Inc. * | 25,534 | 721,591 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 133 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Pharmaceuticals — continued | ||
Pliant Therapeutics, Inc. * | 28,633 | 420,046 |
Revance Therapeutics, Inc. * | 48,373 | 381,663 |
Supernus Pharmaceuticals, Inc. * | 30,020 | 715,977 |
Tilray Brands, Inc. (Canada) * (a) | 386,781 | 696,206 |
Ventyx Biosciences, Inc. * | 25,907 | 373,579 |
8,502,730 | ||
Professional Services — 2.0% | ||
CBIZ, Inc. * | 27,398 | 1,423,600 |
Conduent, Inc. * | 92,216 | 294,169 |
CSG Systems International, Inc. | 16,726 | 783,780 |
First Advantage Corp. | 27,944 | 363,551 |
Forrester Research, Inc. * | 6,345 | 147,204 |
HireRight Holdings Corp. * | 6,517 | 60,022 |
Huron Consulting Group, Inc. * | 10,466 | 1,039,902 |
ICF International, Inc. | 9,522 | 1,206,723 |
Kelly Services, Inc., Class A | 17,635 | 314,785 |
Kforce, Inc. | 10,407 | 635,243 |
Korn Ferry | 29,467 | 1,341,338 |
Legalzoom.com, Inc. * | 57,977 | 578,031 |
NV5 Global, Inc. * | 6,993 | 659,789 |
Planet Labs PBC * (a) | 103,726 | 224,048 |
Sterling Check Corp. * | 16,418 | 183,553 |
TrueBlue, Inc. * | 17,055 | 188,799 |
TTEC Holdings, Inc. | 10,435 | 214,752 |
Upwork, Inc. * | 68,248 | 713,192 |
Verra Mobility Corp. * | 93,319 | 1,844,917 |
12,217,398 | ||
Real Estate Management & Development — 1.1% | ||
Anywhere Real Estate, Inc. * | 60,761 | 283,754 |
Compass, Inc., Class A * | 173,484 | 343,498 |
Cushman & Wakefield plc * | 92,447 | 681,334 |
DigitalBridge Group, Inc. (a) | 78,717 | 1,247,664 |
eXp World Holdings, Inc. (a) | 42,239 | 560,512 |
Forestar Group, Inc. * | 9,885 | 234,769 |
Kennedy-Wilson Holdings, Inc. | 65,163 | 838,648 |
Marcus & Millichap, Inc. | 13,115 | 376,401 |
Newmark Group, Inc., Class A | 66,143 | 375,031 |
Opendoor Technologies, Inc. * (a) | 311,785 | 592,391 |
Redfin Corp. * (a) | 62,683 | 292,103 |
St. Joe Co. (The) | 19,586 | 913,491 |
6,739,596 | ||
Residential REITs — 0.4% | ||
Apartment Investment and Management Co., Class A * | 74,841 | 438,568 |
Centerspace | 8,219 | 399,279 |
Elme Communities | 48,305 | 616,372 |
NexPoint Residential Trust, Inc. | 12,568 | 339,211 |
Veris Residential, Inc. | 44,049 | 589,816 |
2,383,246 | ||
Retail REITs — 1.4% | ||
Acadia Realty Trust | 52,355 | 749,724 |
INVESTMENTS | SHARES | VALUE($) |
Retail REITs — continued | ||
Alexander's, Inc. | 1,176 | 221,076 |
CBL & Associates Properties, Inc. (a) | 13,576 | 281,430 |
Getty Realty Corp. | 25,274 | 672,794 |
InvenTrust Properties Corp. | 37,135 | 932,088 |
Macerich Co. (The) | 118,383 | 1,150,683 |
Retail Opportunity Investments Corp. | 69,298 | 813,559 |
RPT Realty | 43,904 | 473,724 |
Saul Centers, Inc. | 7,110 | 247,215 |
SITE Centers Corp. | 98,984 | 1,154,153 |
Tanger Factory Outlet Centers, Inc. (a) | 57,841 | 1,304,315 |
Urban Edge Properties | 64,699 | 1,026,126 |
9,026,887 | ||
Semiconductors & Semiconductor Equipment — 1.9% | ||
Ambarella, Inc. * | 20,468 | 920,855 |
Cohu, Inc. * | 26,180 | 789,065 |
Credo Technology Group Holding Ltd. * | 63,133 | 897,751 |
FormFactor, Inc. * | 42,714 | 1,447,150 |
Ichor Holdings Ltd. * | 16,090 | 390,343 |
Impinj, Inc. * | 12,414 | 802,069 |
indie Semiconductor, Inc., Class A (China) * (a) | 67,351 | 329,346 |
Kulicke & Soffa Industries, Inc. (Singapore) | 31,054 | 1,292,157 |
MaxLinear, Inc. * | 40,544 | 616,269 |
Navitas Semiconductor Corp. * | 66,379 | 347,826 |
PDF Solutions, Inc. * | 16,773 | 444,988 |
Photronics, Inc. * | 34,383 | 631,272 |
Semtech Corp. * | 35,180 | 491,113 |
SiTime Corp. * | 9,410 | 939,118 |
Ultra Clean Holdings, Inc. * | 24,587 | 586,646 |
Veeco Instruments, Inc. * | 30,985 | 741,781 |
11,667,749 | ||
Software — 7.5% | ||
A10 Networks, Inc. | 38,316 | 416,495 |
ACI Worldwide, Inc. * | 59,723 | 1,216,558 |
Adeia, Inc. | 58,710 | 494,925 |
Agilysys, Inc. * | 11,154 | 956,902 |
Alarm.com Holdings, Inc. * | 27,444 | 1,403,212 |
Alkami Technology, Inc. * | 21,765 | 390,682 |
Alteryx, Inc., Class A * | 34,742 | 1,112,091 |
Amplitude, Inc., Class A * | 38,976 | 388,201 |
Appfolio, Inc., Class A * | 10,813 | 2,028,194 |
Appian Corp., Class A * | 22,886 | 903,082 |
Asana, Inc., Class A * (a) | 43,346 | 800,601 |
Aurora Innovation, Inc. * (a) | 411,477 | 720,085 |
AvePoint, Inc. * (a) | 52,003 | 389,502 |
Braze, Inc., Class A * | 25,978 | 1,106,143 |
C3.ai, Inc., Class A * (a) | 50,560 | 1,233,664 |
Cerence, Inc. * | 22,183 | 339,622 |
Clear Secure, Inc., Class A (a) | 46,001 | 773,737 |
Clearwater Analytics Holdings, Inc., Class A * | 48,404 | 875,144 |
CommVault Systems, Inc. * | 24,133 | 1,577,092 |
Consensus Cloud Solutions, Inc. * | 10,051 | 217,001 |
Digital Turbine, Inc. * | 49,749 | 235,810 |
Domo, Inc., Class B * | 16,958 | 138,377 |
134 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Software — continued | ||
E2open Parent Holdings, Inc. * | 95,049 | 274,692 |
Ebix, Inc. (a) | 13,431 | 81,795 |
EngageSmart, Inc. * | 24,850 | 562,853 |
Everbridge, Inc. * | 22,414 | 461,953 |
EverCommerce, Inc. * | 11,423 | 109,432 |
Expensify, Inc., Class A * | 22,950 | 61,277 |
Freshworks, Inc., Class A * | 87,475 | 1,569,301 |
Gitlab, Inc., Class A * | 43,930 | 1,901,290 |
HashiCorp, Inc., Class A * | 55,226 | 1,087,400 |
Intapp, Inc. * | 14,051 | 480,544 |
InterDigital, Inc. | 14,526 | 1,093,081 |
Jamf Holding Corp. * (a) | 28,279 | 454,161 |
JFrog Ltd. (Israel) * | 43,384 | 975,706 |
LiveRamp Holdings, Inc. * | 36,402 | 1,006,879 |
Marathon Digital Holdings, Inc. * (a) | 95,846 | 844,403 |
Matterport, Inc. * (a) | 129,228 | 263,625 |
MeridianLink, Inc. * | 11,640 | 191,129 |
Model N, Inc. * | 19,075 | 459,708 |
N-Able, Inc. * | 38,139 | 494,281 |
nCino, Inc. * (a) | 33,338 | 936,798 |
PagerDuty, Inc. * (a) | 50,707 | 1,022,760 |
Progress Software Corp. | 23,848 | 1,225,310 |
PROS Holdings, Inc. * | 23,375 | 728,131 |
Q2 Holdings, Inc. * | 32,149 | 965,434 |
Rapid7, Inc. * | 33,526 | 1,558,624 |
RingCentral, Inc., Class A * | 46,613 | 1,238,974 |
Riot Platforms, Inc. * (a) | 96,823 | 946,929 |
Samsara, Inc., Class A * | 84,204 | 1,942,586 |
SolarWinds Corp. * | 28,091 | 258,718 |
Sprinklr, Inc., Class A * | 57,268 | 778,272 |
Sprout Social, Inc., Class A * (a) | 26,645 | 1,153,196 |
Varonis Systems, Inc. * | 60,301 | 2,028,526 |
Verint Systems, Inc. * | 35,356 | 665,046 |
Zeta Global Holdings Corp., Class A * | 82,281 | 641,792 |
Zuora, Inc., Class A * | 71,023 | 526,280 |
46,708,006 | ||
Specialized REITs — 0.4% | ||
Four Corners Property Trust, Inc. | 49,814 | 1,061,038 |
Gladstone Land Corp. | 18,327 | 250,347 |
Outfront Media, Inc. | 79,876 | 779,590 |
Uniti Group, Inc. (a) | 131,276 | 603,869 |
2,694,844 | ||
Specialty Retail — 2.9% | ||
Abercrombie & Fitch Co., Class A * | 27,529 | 1,674,314 |
American Eagle Outfitters, Inc. | 102,078 | 1,783,303 |
Arko Corp. | 39,810 | 300,566 |
Boot Barn Holdings, Inc. * | 16,499 | 1,146,680 |
Buckle, Inc. (The) | 16,368 | 552,747 |
Caleres, Inc. | 18,751 | 479,651 |
Camping World Holdings, Inc., Class A (a) | 23,036 | 385,853 |
Carvana Co. * (a) | 52,733 | 1,423,791 |
Guess?, Inc. (a) | 15,018 | 322,887 |
Leslie's, Inc. * | 101,195 | 499,903 |
INVESTMENTS | SHARES | VALUE($) |
Specialty Retail — continued | ||
Monro, Inc. | 17,277 | 428,815 |
National Vision Holdings, Inc. * | 42,984 | 667,971 |
ODP Corp. (The) * | 18,626 | 836,680 |
Overstock.com, Inc. * | 24,858 | 387,785 |
Petco Health & Wellness Co., Inc. * (a) | 45,386 | 157,036 |
Revolve Group, Inc. * (a) | 22,478 | 309,073 |
Sally Beauty Holdings, Inc. * | 59,268 | 503,778 |
Sleep Number Corp. * (a) | 11,607 | 188,846 |
Sonic Automotive, Inc., Class A | 8,752 | 418,783 |
Upbound Group, Inc. | 25,246 | 657,911 |
Urban Outfitters, Inc. * | 31,104 | 1,076,820 |
Victoria's Secret & Co. * (a) | 42,430 | 758,648 |
Warby Parker, Inc., Class A * | 41,248 | 535,399 |
Wayfair, Inc., Class A * (a) | 49,639 | 2,115,117 |
Winmark Corp. | 1,571 | 633,616 |
18,245,973 | ||
Technology Hardware, Storage & Peripherals — 0.4% | ||
Avid Technology, Inc. * | 18,650 | 503,923 |
Corsair Gaming, Inc. * | 23,742 | 303,660 |
IonQ, Inc. * (a) | 93,592 | 902,227 |
Xerox Holdings Corp. | 62,215 | 798,841 |
2,508,651 | ||
Textiles, Apparel & Luxury Goods — 1.2% | ||
Carter's, Inc. | 20,496 | 1,376,511 |
Figs, Inc., Class A * | 67,178 | 370,151 |
G-III Apparel Group Ltd. * | 22,315 | 570,148 |
Hanesbrands, Inc. (a) | 192,431 | 806,286 |
Kontoor Brands, Inc. | 27,467 | 1,275,842 |
Levi Strauss & Co., Class A (a) | 54,795 | 749,048 |
Oxford Industries, Inc. | 8,126 | 685,834 |
Steven Madden Ltd. | 38,936 | 1,276,712 |
Wolverine World Wide, Inc. | 43,736 | 352,075 |
7,462,607 | ||
Tobacco — 0.2% | ||
Universal Corp. | 13,552 | 609,840 |
Vector Group Ltd. | 72,893 | 749,340 |
1,359,180 | ||
Trading Companies & Distributors — 1.7% | ||
Boise Cascade Co. | 21,773 | 2,041,219 |
Custom Truck One Source, Inc. * (a) | 33,836 | 195,234 |
Distribution Solutions Group, Inc. * | 5,911 | 178,217 |
FTAI Aviation Ltd. (a) | 54,858 | 2,063,209 |
Global Industrial Co. | 7,110 | 227,164 |
GMS, Inc. * | 22,421 | 1,311,180 |
H&E Equipment Services, Inc. | 17,608 | 716,998 |
McGrath RentCorp | 13,470 | 1,355,082 |
NOW, Inc. * | 58,691 | 646,775 |
Veritiv Corp. | 7,455 | 1,262,951 |
Xometry, Inc., Class A * (a) | 22,415 | 326,138 |
10,324,167 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 135 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Water Utilities — 0.3% | ||
Middlesex Water Co. | 9,757 | 619,862 |
SJW Group | 15,895 | 993,120 |
1,612,982 | ||
Wireless Telecommunication Services — 0.4% | ||
Gogo, Inc. * | 33,972 | 356,706 |
Shenandoah Telecommunications Co. | 27,647 | 654,128 |
Telephone and Data Systems, Inc. | 53,851 | 979,549 |
United States Cellular Corp. * | 7,757 | 326,027 |
2,316,410 | ||
Total Common Stocks (Cost $766,998,882) | 619,810,415 | |
INVESTMENTS | ||
Short-Term Investments — 17.2% | ||
Investment Companies — 0.5% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (c) (d) (Cost $3,209,614) | 3,209,614 | 3,209,614 |
Investment of Cash Collateral from Securities Loaned — 16.7% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.53% (c) (d) | 92,982,408 | 93,001,004 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (c) (d) | 11,142,566 | 11,142,566 |
Total Investment of Cash Collateral from Securities Loaned (Cost $104,144,270) | 104,143,570 | |
Total Short-Term Investments (Cost $107,353,884) | 107,353,184 | |
Total Investments — 116.6% (Cost $874,352,766) | 727,163,599 | |
Liabilities in Excess of Other Assets — (16.6)% | (103,440,712 ) | |
NET ASSETS — 100.0% | 623,722,887 |
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 October 31, 2023. The total value of securities on loan at October 31, 2023 is $102,117,546. | |
(b) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. | |
(c) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(d) | The rate shown is the current yield as of October 31, 2023. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
Russell 2000 E-Mini Index | 41 | 12/15/2023 | USD | 3,419,400 | (382,230 ) |
Abbreviations | |
USD | United States Dollar |
136 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 99.3% | ||
Aerospace & Defense — 0.2% | ||
Hexcel Corp. | 27 | 1,672 |
L3Harris Technologies, Inc. | 54 | 9,688 |
11,360 | ||
Air Freight & Logistics — 0.2% | ||
CH Robinson Worldwide, Inc. | 39 | 3,191 |
Expeditors International of Washington, Inc. | 48 | 5,244 |
United Parcel Service, Inc., Class B | 34 | 4,803 |
13,238 | ||
Automobile Components — 0.2% | ||
Aptiv plc * | 86 | 7,499 |
Gentex Corp. | 76 | 2,180 |
9,679 | ||
Automobiles — 1.7% | ||
Ford Motor Co. | 134 | 1,307 |
Tesla, Inc. * | 479 | 96,202 |
97,509 | ||
Banks — 1.8% | ||
Bank of America Corp. | 1,538 | 40,511 |
Citigroup, Inc. | 577 | 22,786 |
PNC Financial Services Group, Inc. (The) | 34 | 3,892 |
US Bancorp | 63 | 2,008 |
Wells Fargo & Co. | 857 | 34,083 |
103,280 | ||
Beverages — 1.5% | ||
Brown-Forman Corp., Class B | 70 | 3,931 |
Constellation Brands, Inc., Class A | 46 | 10,771 |
Keurig Dr Pepper, Inc. | 279 | 8,462 |
Monster Beverage Corp. * | 217 | 11,089 |
PepsiCo, Inc. | 308 | 50,290 |
84,543 | ||
Biotechnology — 3.1% | ||
AbbVie, Inc. | 354 | 49,978 |
Alnylam Pharmaceuticals, Inc. * | 41 | 6,224 |
Amgen, Inc. | 40 | 10,228 |
Biogen, Inc. * | 32 | 7,601 |
Gilead Sciences, Inc. | 364 | 28,589 |
Incyte Corp. * | 60 | 3,236 |
Ionis Pharmaceuticals, Inc. * | 44 | 1,948 |
Moderna, Inc. * | 104 | 7,900 |
Regeneron Pharmaceuticals, Inc. * | 28 | 21,837 |
INVESTMENTS | SHARES | VALUE($) |
Biotechnology — continued | ||
Seagen, Inc. * | 41 | 8,725 |
Vertex Pharmaceuticals, Inc. * | 77 | 27,882 |
174,148 | ||
Broadline Retail — 3.1% | ||
Amazon.com, Inc. * | 1,238 | 164,765 |
eBay, Inc. | 160 | 6,277 |
Etsy, Inc. * | 36 | 2,243 |
173,285 | ||
Building Products — 0.5% | ||
Carrier Global Corp. | 207 | 9,866 |
Hayward Holdings, Inc. * | 37 | 389 |
Lennox International, Inc. | 10 | 3,705 |
Masco Corp. | 70 | 3,646 |
Trane Technologies plc | 67 | 12,751 |
30,357 | ||
Capital Markets — 4.1% | ||
Ares Management Corp. | 44 | 4,338 |
Bank of New York Mellon Corp. (The) | 213 | 9,052 |
BlackRock, Inc. | 42 | 25,716 |
Blackstone, Inc. | 11 | 1,016 |
Carlyle Group, Inc. (The) | 46 | 1,267 |
Charles Schwab Corp. (The) | 339 | 17,642 |
CME Group, Inc. | 107 | 22,840 |
FactSet Research Systems, Inc. | 8 | 3,455 |
Goldman Sachs Group, Inc. (The) | 93 | 28,236 |
Invesco Ltd. | 103 | 1,336 |
Jefferies Financial Group, Inc. | 56 | 1,802 |
KKR & Co., Inc. | 112 | 6,205 |
Lazard Ltd., Class A | 14 | 389 |
LPL Financial Holdings, Inc. | 19 | 4,266 |
MarketAxess Holdings, Inc. | 8 | 1,710 |
Moody's Corp. | 45 | 13,860 |
Morgan Stanley | 313 | 22,167 |
Morningstar, Inc. | 9 | 2,279 |
MSCI, Inc. | 19 | 8,959 |
Nasdaq, Inc. | 100 | 4,960 |
Northern Trust Corp. | 52 | 3,427 |
Robinhood Markets, Inc., Class A * | 194 | 1,773 |
S&P Global, Inc. | 94 | 32,835 |
T. Rowe Price Group, Inc. | 66 | 5,973 |
Tradeweb Markets, Inc., Class A | 39 | 3,510 |
XP, Inc., Class A (Brazil) | 104 | 2,080 |
231,093 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 137 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Chemicals — 1.3% | ||
Albemarle Corp. | 30 | 3,804 |
Ashland, Inc. | 9 | 690 |
Ecolab, Inc. | 69 | 11,574 |
Element Solutions, Inc. | 70 | 1,276 |
FMC Corp. | 39 | 2,075 |
Huntsman Corp. | 56 | 1,307 |
International Flavors & Fragrances, Inc. | 72 | 4,921 |
Linde plc | 121 | 46,241 |
Mosaic Co. (The) | 9 | 292 |
Scotts Miracle-Gro Co. (The) | 12 | 533 |
72,713 | ||
Commercial Services & Supplies — 0.6% | ||
Clean Harbors, Inc. * | 15 | 2,305 |
MSA Safety, Inc. | 8 | 1,263 |
RB Global, Inc. (Canada) | 43 | 2,812 |
Republic Services, Inc. | 62 | 9,206 |
Stericycle, Inc. * | 30 | 1,237 |
Tetra Tech, Inc. | 15 | 2,264 |
Waste Management, Inc. | 93 | 15,283 |
34,370 | ||
Communications Equipment — 1.4% | ||
Arista Networks, Inc. * | 75 | 15,028 |
Ciena Corp. * | 51 | 2,152 |
Cisco Systems, Inc. | 925 | 48,220 |
F5, Inc. * | 17 | 2,577 |
Motorola Solutions, Inc. | 49 | 13,645 |
Viasat, Inc. * | 30 | 553 |
82,175 | ||
Construction & Engineering — 0.1% | ||
AECOM | 35 | 2,679 |
MasTec, Inc. * | 14 | 832 |
3,511 | ||
Consumer Finance — 0.7% | ||
Ally Financial, Inc. | 79 | 1,911 |
American Express Co. | 171 | 24,971 |
Capital One Financial Corp. | 109 | 11,041 |
SLM Corp. | 61 | 793 |
Synchrony Financial | 129 | 3,618 |
42,334 | ||
Consumer Staples Distribution & Retail — 0.8% | ||
Costco Wholesale Corp. | 41 | 22,650 |
INVESTMENTS | SHARES | VALUE($) |
Consumer Staples Distribution & Retail — continued | ||
Sysco Corp. | 7 | 466 |
Walmart, Inc. | 130 | 21,243 |
44,359 | ||
Containers & Packaging — 0.1% | ||
Avery Dennison Corp. | 23 | 4,004 |
Diversified REITs — 0.1% | ||
WP Carey, Inc. | 58 | 3,112 |
Diversified Telecommunication Services — 0.2% | ||
AT&T, Inc. | 220 | 3,388 |
Iridium Communications, Inc. | 39 | 1,445 |
Verizon Communications, Inc. | 268 | 9,415 |
14,248 | ||
Electric Utilities — 1.2% | ||
Avangrid, Inc. | 30 | 896 |
Edison International | 107 | 6,747 |
Eversource Energy | 97 | 5,218 |
Exelon Corp. | 300 | 11,682 |
NextEra Energy, Inc. | 569 | 33,173 |
PG&E Corp. * | 589 | 9,601 |
67,317 | ||
Electrical Equipment — 0.7% | ||
AMETEK, Inc. | 71 | 9,995 |
Eaton Corp. plc | 6 | 1,247 |
Emerson Electric Co. | 172 | 15,303 |
Generac Holdings, Inc. * | 24 | 2,018 |
Plug Power, Inc. * | 198 | 1,166 |
Rockwell Automation, Inc. | 35 | 9,198 |
Sunrun, Inc. * | 68 | 656 |
39,583 | ||
Electronic Equipment, Instruments & Components — 0.5% | ||
CDW Corp. | 39 | 7,816 |
Cognex Corp. | 48 | 1,728 |
Keysight Technologies, Inc. * | 52 | 6,347 |
Teledyne Technologies, Inc. * | 14 | 5,244 |
Trimble, Inc. * | 73 | 3,440 |
Vontier Corp. | 52 | 1,537 |
Zebra Technologies Corp., Class A * | 12 | 2,513 |
28,625 |
138 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Energy Equipment & Services — 0.7% | ||
Halliburton Co. | 327 | 12,864 |
Schlumberger NV | 494 | 27,496 |
40,360 | ||
Entertainment — 1.9% | ||
Electronic Arts, Inc. | 80 | 9,903 |
Liberty Media Corp-Liberty Formula One, Class C * | 60 | 3,881 |
Netflix, Inc. * | 106 | 43,639 |
Spotify Technology SA * | 44 | 7,250 |
Take-Two Interactive Software, Inc. * | 49 | 6,554 |
Walt Disney Co. (The) * | 435 | 35,492 |
106,719 | ||
Financial Services — 4.8% | ||
Apollo Global Management, Inc. | 130 | 10,067 |
Berkshire Hathaway, Inc., Class B * | 158 | 53,930 |
Block, Inc. * | 157 | 6,319 |
Fidelity National Information Services, Inc. | 182 | 8,938 |
Fiserv, Inc. * | 181 | 20,589 |
Global Payments, Inc. | 74 | 7,860 |
Jack Henry & Associates, Inc. | 25 | 3,525 |
Mastercard, Inc., Class A | 167 | 62,851 |
PayPal Holdings, Inc. * | 337 | 17,457 |
Toast, Inc., Class A * | 106 | 1,695 |
Visa, Inc., Class A | 314 | 73,821 |
Voya Financial, Inc. | 35 | 2,337 |
Western Union Co. (The) | 121 | 1,366 |
WEX, Inc. * | 13 | 2,164 |
272,919 | ||
Food Products — 1.1% | ||
Freshpet, Inc. * | 18 | 1,033 |
General Mills, Inc. | 177 | 11,548 |
Hershey Co. (The) | 41 | 7,681 |
J M Smucker Co. (The) | 26 | 2,960 |
Kraft Heinz Co. (The) | 239 | 7,519 |
McCormick & Co., Inc. (Non-Voting) | 78 | 4,984 |
Mondelez International, Inc., Class A | 405 | 26,815 |
62,540 | ||
Gas Utilities — 0.1% | ||
Atmos Energy Corp. | 37 | 3,984 |
National Fuel Gas Co. | 32 | 1,630 |
UGI Corp. | 66 | 1,373 |
6,987 |
INVESTMENTS | SHARES | VALUE($) |
Ground Transportation — 0.6% | ||
Lyft, Inc., Class A * | 95 | 871 |
Uber Technologies, Inc. * | 570 | 24,670 |
Union Pacific Corp. | 34 | 7,059 |
32,600 | ||
Health Care Equipment & Supplies — 1.9% | ||
Abbott Laboratories | 130 | 12,291 |
Boston Scientific Corp. * | 421 | 21,551 |
Dexcom, Inc. * | 120 | 10,660 |
Edwards Lifesciences Corp. * | 179 | 11,406 |
Hologic, Inc. * | 71 | 4,698 |
IDEXX Laboratories, Inc. * | 24 | 9,587 |
Insulet Corp. * | 21 | 2,784 |
Intuitive Surgical, Inc. * | 100 | 26,222 |
Medtronic plc | 44 | 3,105 |
ResMed, Inc. | 39 | 5,508 |
Stryker Corp. | 7 | 1,891 |
109,703 | ||
Health Care Providers & Services — 3.8% | ||
Cencora, Inc. | 50 | 9,257 |
Cigna Group (The) | 87 | 26,900 |
CVS Health Corp. | 376 | 25,948 |
Elevance Health, Inc. | 66 | 29,706 |
Humana, Inc. | 33 | 17,282 |
McKesson Corp. | 41 | 18,670 |
Premier, Inc., Class A | 39 | 750 |
UnitedHealth Group, Inc. | 166 | 88,903 |
217,416 | ||
Health Care REITs — 0.1% | ||
Medical Properties Trust, Inc. | 187 | 894 |
Omega Healthcare Investors, Inc. | 74 | 2,449 |
3,343 | ||
Health Care Technology — 0.0% ^ | ||
Certara, Inc. * | 33 | 402 |
Hotels, Restaurants & Leisure — 2.1% | ||
Airbnb, Inc., Class A * | 118 | 13,958 |
Booking Holdings, Inc. * | 8 | 22,317 |
Chipotle Mexican Grill, Inc. * | 8 | 15,538 |
Expedia Group, Inc. * | 48 | 4,574 |
McDonald's Corp. | 172 | 45,093 |
Planet Fitness, Inc., Class A * | 31 | 1,713 |
Starbucks Corp. | 42 | 3,874 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 139 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Hotels, Restaurants & Leisure — continued | ||
Wendy's Co. (The) | 56 | 1,065 |
Yum! Brands, Inc. | 84 | 10,152 |
118,284 | ||
Household Durables — 0.1% | ||
PulteGroup, Inc. | 68 | 5,004 |
Household Products — 1.8% | ||
Church & Dwight Co., Inc. | 70 | 6,366 |
Clorox Co. (The) | 37 | 4,355 |
Colgate-Palmolive Co. | 244 | 18,329 |
Procter & Gamble Co. (The) | 469 | 70,364 |
Spectrum Brands Holdings, Inc. | 12 | 904 |
100,318 | ||
Independent Power and Renewable Electricity Producers — 0.0% ^ | ||
Brookfield Renewable Corp. | 37 | 842 |
Industrial Conglomerates — 0.6% | ||
General Electric Co. | 325 | 35,305 |
Industrial REITs — 0.5% | ||
Prologis, Inc. | 272 | 27,404 |
Rexford Industrial Realty, Inc. | 66 | 2,854 |
30,258 | ||
Insurance — 2.6% | ||
Aflac, Inc. | 176 | 13,747 |
Allstate Corp. (The) | 80 | 10,250 |
American International Group, Inc. | 214 | 13,120 |
Aon plc, Class A | 60 | 18,564 |
Arch Capital Group Ltd. * | 17 | 1,474 |
Assurant, Inc. | 14 | 2,085 |
Assured Guaranty Ltd. | 23 | 1,435 |
Chubb Ltd. | 122 | 26,184 |
Everest Group Ltd. | 12 | 4,747 |
Hartford Financial Services Group, Inc. (The) | 93 | 6,831 |
Lincoln National Corp. | 49 | 1,067 |
Marsh & McLennan Cos., Inc. | 10 | 1,897 |
MetLife, Inc. | 197 | 11,822 |
Principal Financial Group, Inc. | 67 | 4,535 |
Progressive Corp. (The) | 12 | 1,897 |
Prudential Financial, Inc. | 107 | 9,784 |
RenaissanceRe Holdings Ltd. (Bermuda) | 11 | 2,415 |
Travelers Cos., Inc. (The) | 71 | 11,888 |
Unum Group | 47 | 2,298 |
WR Berkley Corp. | 61 | 4,113 |
150,153 |
INVESTMENTS | SHARES | VALUE($) |
Interactive Media & Services — 5.0% | ||
Alphabet, Inc., Class A * | 1,539 | 190,959 |
Match Group, Inc. * | 86 | 2,976 |
Meta Platforms, Inc., Class A * | 283 | 85,259 |
Pinterest, Inc., Class A * | 169 | 5,050 |
ZoomInfo Technologies, Inc. * | 92 | 1,192 |
285,436 | ||
IT Services — 1.3% | ||
Accenture plc, Class A | 150 | 44,563 |
Cloudflare, Inc., Class A * | 79 | 4,478 |
EPAM Systems, Inc. * | 16 | 3,481 |
Gartner, Inc. * | 18 | 5,977 |
Globant SA * | 14 | 2,384 |
International Business Machines Corp. | 51 | 7,377 |
Okta, Inc. * | 43 | 2,899 |
Twilio, Inc., Class A * | 54 | 2,768 |
73,927 | ||
Leisure Products — 0.1% | ||
Hasbro, Inc. | 44 | 1,987 |
Peloton Interactive, Inc., Class A * | 94 | 447 |
YETI Holdings, Inc. * | 33 | 1,403 |
3,837 | ||
Life Sciences Tools & Services — 1.2% | ||
Agilent Technologies, Inc. | 81 | 8,373 |
Danaher Corp. | 105 | 20,162 |
ICON plc * | 24 | 5,855 |
Illumina, Inc. * | 52 | 5,690 |
IQVIA Holdings, Inc. * | 49 | 8,861 |
Mettler-Toledo International, Inc. * | 2 | 1,970 |
Repligen Corp. * | 20 | 2,691 |
Thermo Fisher Scientific, Inc. | 30 | 13,343 |
Waters Corp. * | 17 | 4,055 |
71,000 | ||
Machinery — 2.7% | ||
Caterpillar, Inc. | 140 | 31,647 |
Deere & Co. | 78 | 28,498 |
Dover Corp. | 37 | 4,808 |
Fortive Corp. | 101 | 6,593 |
Graco, Inc. | 52 | 3,866 |
IDEX Corp. | 17 | 3,254 |
Illinois Tool Works, Inc. | 91 | 20,395 |
Ingersoll Rand, Inc. | 127 | 7,707 |
Nordson Corp. | 19 | 4,039 |
140 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Machinery — continued | ||
Otis Worldwide Corp. | 122 | 9,420 |
PACCAR, Inc. | 153 | 12,627 |
Parker-Hannifin Corp. | 34 | 12,543 |
Xylem, Inc. | 76 | 7,109 |
152,506 | ||
Media — 0.9% | ||
Comcast Corp., Class A | 902 | 37,244 |
Fox Corp., Class A | 111 | 3,373 |
Interpublic Group of Cos., Inc. (The) | 116 | 3,294 |
Liberty Media Corp-Liberty SiriusXM * | 73 | 1,792 |
Omnicom Group, Inc. | 63 | 4,719 |
Sirius XM Holdings, Inc. | 195 | 835 |
51,257 | ||
Metals & Mining — 0.4% | ||
Freeport-McMoRan, Inc. | 422 | 14,255 |
Newmont Corp. | 230 | 8,618 |
Royal Gold, Inc. | 17 | 1,774 |
24,647 | ||
Mortgage Real Estate Investment Trusts (REITs) — 0.1% | ||
AGNC Investment Corp. | 181 | 1,336 |
Annaly Capital Management, Inc. | 143 | 2,232 |
3,568 | ||
Multi-Utilities — 0.6% | ||
CenterPoint Energy, Inc. | 190 | 5,107 |
Consolidated Edison, Inc. | 105 | 9,218 |
Public Service Enterprise Group, Inc. | 152 | 9,371 |
Sempra | 186 | 13,026 |
36,722 | ||
Office REITs — 0.0% ^ | ||
Kilroy Realty Corp. | 30 | 857 |
Oil, Gas & Consumable Fuels — 3.6% | ||
Antero Resources Corp. * | 105 | 3,091 |
Chevron Corp. | 345 | 50,277 |
ConocoPhillips | 326 | 38,729 |
Exxon Mobil Corp. | 756 | 80,022 |
Hess Corp. | 79 | 11,408 |
New Fortress Energy, Inc. | 19 | 576 |
Targa Resources Corp. | 72 | 6,020 |
Williams Cos., Inc. (The) | 361 | 12,418 |
202,541 |
INVESTMENTS | SHARES | VALUE($) |
Personal Care Products — 0.2% | ||
Coty, Inc., Class A * | 113 | 1,059 |
Estee Lauder Cos., Inc. (The), Class A | 71 | 9,150 |
10,209 | ||
Pharmaceuticals — 3.6% | ||
Bristol-Myers Squibb Co. | 515 | 26,538 |
Eli Lilly & Co. | 158 | 87,521 |
Johnson & Johnson | 336 | 49,842 |
Merck & Co., Inc. | 264 | 27,113 |
Pfizer, Inc. | 490 | 14,974 |
Zoetis, Inc. | 7 | 1,099 |
207,087 | ||
Professional Services — 1.2% | ||
Automatic Data Processing, Inc. | 118 | 25,750 |
Booz Allen Hamilton Holding Corp. | 37 | 4,437 |
Ceridian HCM Holding, Inc. * | 42 | 2,688 |
Clarivate plc * | 142 | 906 |
Equifax, Inc. | 35 | 5,935 |
FTI Consulting, Inc. * | 10 | 2,123 |
Genpact Ltd. | 56 | 1,878 |
ManpowerGroup, Inc. | 15 | 1,050 |
Paychex, Inc. | 97 | 10,772 |
Robert Half, Inc. | 35 | 2,617 |
Science Applications International Corp. | 12 | 1,311 |
TransUnion | 59 | 2,589 |
Verisk Analytics, Inc. | 39 | 8,867 |
70,923 | ||
Real Estate Management & Development — 0.2% | ||
CBRE Group, Inc., Class A * | 88 | 6,102 |
Jones Lang LaSalle, Inc. * | 11 | 1,407 |
Zillow Group, Inc., Class C * | 64 | 2,320 |
9,829 | ||
Residential REITs — 0.4% | ||
American Homes 4 Rent, Class A | 93 | 3,045 |
AvalonBay Communities, Inc. | 37 | 6,132 |
Equity LifeStyle Properties, Inc. | 52 | 3,422 |
Equity Residential | 110 | 6,086 |
Essex Property Trust, Inc. | 15 | 3,209 |
UDR, Inc. | 94 | 2,990 |
24,884 | ||
Retail REITs — 0.6% | ||
Brixmor Property Group, Inc. | 89 | 1,850 |
Federal Realty Investment Trust | 28 | 2,553 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 141 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Retail REITs — continued | ||
Kimco Realty Corp. | 177 | 3,175 |
NNN REIT, Inc. | 53 | 1,925 |
Realty Income Corp. | 194 | 9,192 |
Regency Centers Corp. | 57 | 3,435 |
Simon Property Group, Inc. | 93 | 10,220 |
Spirit Realty Capital, Inc. | 46 | 1,656 |
34,006 | ||
Semiconductors & Semiconductor Equipment — 5.8% | ||
Advanced Micro Devices, Inc. * | 400 | 39,400 |
Analog Devices, Inc. | 6 | 944 |
Applied Materials, Inc. | 247 | 32,691 |
Broadcom, Inc. | 41 | 34,496 |
Enphase Energy, Inc. * | 52 | 4,138 |
First Solar, Inc. * | 37 | 5,271 |
Intel Corp. | 282 | 10,293 |
KLA Corp. | 24 | 11,273 |
Marvell Technology, Inc. | 252 | 11,899 |
MKS Instruments, Inc. | 18 | 1,182 |
NVIDIA Corp. | 388 | 158,226 |
QUALCOMM, Inc. | 60 | 6,539 |
Texas Instruments, Inc. | 62 | 8,805 |
Universal Display Corp. | 11 | 1,531 |
326,688 | ||
Software — 13.2% | ||
Adobe, Inc. * | 101 | 53,738 |
ANSYS, Inc. * | 27 | 7,513 |
Atlassian Corp., Class A * | 38 | 6,864 |
Autodesk, Inc. * | 64 | 12,648 |
Bentley Systems, Inc., Class B | 59 | 2,870 |
Cadence Design Systems, Inc. * | 81 | 19,428 |
Confluent, Inc., Class A * | 50 | 1,445 |
Dolby Laboratories, Inc., Class A | 24 | 1,943 |
Dynatrace, Inc. * | 25 | 1,118 |
Fortinet, Inc. * | 198 | 11,320 |
Gen Digital, Inc. | 158 | 2,632 |
Guidewire Software, Inc. * | 30 | 2,704 |
Intuit, Inc. | 74 | 36,626 |
Microsoft Corp. | 1,061 | 358,735 |
New Relic, Inc. * | 18 | 1,560 |
Nutanix, Inc., Class A * | 66 | 2,388 |
Oracle Corp. | 259 | 26,781 |
Palantir Technologies, Inc., Class A * | 551 | 8,155 |
Palo Alto Networks, Inc. * | 91 | 22,115 |
INVESTMENTS | SHARES | VALUE($) |
Software — continued | ||
Roper Technologies, Inc. | 29 | 14,168 |
Salesforce, Inc. * | 197 | 39,563 |
ServiceNow, Inc. * | 61 | 35,493 |
Splunk, Inc. * | 48 | 7,064 |
Synopsys, Inc. * | 45 | 21,125 |
Tyler Technologies, Inc. * | 12 | 4,475 |
Unity Software, Inc. * | 87 | 2,207 |
VMware, Inc., Class A * | 210 | 30,586 |
Workday, Inc., Class A * | 53 | 11,221 |
746,485 | ||
Specialized REITs — 0.7% | ||
American Tower Corp. | 5 | 891 |
Crown Castle, Inc. | 131 | 12,180 |
CubeSmart | 69 | 2,352 |
Extra Space Storage, Inc. | 54 | 5,594 |
Public Storage | 41 | 9,787 |
Rayonier, Inc. | 41 | 1,035 |
SBA Communications Corp. | 33 | 6,885 |
38,724 | ||
Specialty Retail — 2.1% | ||
AutoZone, Inc. * | 5 | 12,386 |
CarMax, Inc. * | 41 | 2,505 |
Floor & Decor Holdings, Inc., Class A * | 34 | 2,802 |
Home Depot, Inc. (The) | 205 | 58,362 |
Lithia Motors, Inc., Class A | 10 | 2,422 |
Lowe's Cos., Inc. | 35 | 6,670 |
Penske Automotive Group, Inc. | 6 | 859 |
Ross Stores, Inc. | 101 | 11,713 |
TJX Cos., Inc. (The) | 77 | 6,781 |
Tractor Supply Co. | 31 | 5,969 |
Ulta Beauty, Inc. * | 11 | 4,194 |
Valvoline, Inc. | 45 | 1,335 |
Wayfair, Inc., Class A * | 25 | 1,065 |
Williams-Sonoma, Inc. | 14 | 2,103 |
119,166 | ||
Technology Hardware, Storage & Peripherals — 6.9% | ||
Apple, Inc. | 2,295 | 391,917 |
Textiles, Apparel & Luxury Goods — 1.1% | ||
Capri Holdings Ltd. * | 39 | 1,996 |
Deckers Outdoor Corp. * | 7 | 4,179 |
Lululemon Athletica, Inc. * | 33 | 12,985 |
NIKE, Inc., Class B | 346 | 35,559 |
Ralph Lauren Corp. | 14 | 1,575 |
142 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Textiles, Apparel & Luxury Goods — continued | ||
Tapestry, Inc. | 72 | 1,984 |
VF Corp. | 111 | 1,635 |
59,913 | ||
Trading Companies & Distributors — 0.4% | ||
Air Lease Corp. | 34 | 1,177 |
United Rentals, Inc. | 20 | 8,125 |
WESCO International, Inc. | 13 | 1,667 |
WW Grainger, Inc. | 13 | 9,488 |
20,457 | ||
Water Utilities — 0.2% | ||
American Water Works Co., Inc. | 61 | 7,176 |
Essential Utilities, Inc. | 69 | 2,309 |
Veralto Corp. * | 35 | 2,415 |
11,900 | ||
Total Common Stocks (Cost $5,845,776) | 5,636,482 | |
Short-Term Investments — 0.2% | ||
Investment Companies — 0.2% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) (Cost $10,503) | 10,503 | 10,503 |
Total Investments — 99.5% (Cost $5,856,279) | 5,646,985 | |
Other Assets Less Liabilities — 0.5% | 26,154 | |
NET ASSETS — 100.0% | 5,673,139 |
Percentages indicated are based on net assets. |
Abbreviations | |
REIT | Real Estate Investment Trust |
^ | Amount rounds to less than 0.1% of net assets. | |
* | Non-income producing security. | |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(b) | The rate shown is the current yield as of October 31, 2023. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
Micro E-mini S&P 500 Index | 1 | 12/15/2023 | USD | 21,050 | (743 ) |
Abbreviations | |
USD | United States Dollar |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 143 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 99.8% | ||
Brazil — 8.9% | ||
Alupar Investimento SA | 28,473 | 158,750 |
Ambev SA | 434,367 | 1,106,217 |
Auren Energia SA | 127,466 | 339,286 |
Banco do Brasil SA | 129,165 | 1,239,195 |
BB Seguridade Participacoes SA | 140,359 | 854,111 |
Bradespar SA (Preference) | 105,905 | 469,475 |
Caixa Seguridade Participacoes S/A | 108,142 | 232,296 |
CCR SA | 284,174 | 678,061 |
Centrais Eletricas Brasileiras SA | 25,998 | 178,932 |
Cia de Saneamento Basico do Estado de Sao Paulo SABESP | 57,658 | 667,297 |
Cia Energetica de Minas Gerais (Preference) | 327,246 | 760,064 |
Cia Paranaense de Energia (Preference) | 427,523 | 710,595 |
Cielo SA | 463,100 | 326,078 |
CPFL Energia SA | 76,104 | 505,825 |
CSN Mineracao SA | 331,782 | 339,564 |
CTEEP-Cia de Transmissao de Energia Eletrica Paulista (Preference) | 128,446 | 541,884 |
Embraer SA * | 200,282 | 697,963 |
Engie Brasil Energia SA | 49,857 | 390,114 |
Gerdau SA (Preference) | 135,883 | 589,700 |
Hypera SA | 64,874 | 390,396 |
Itau Unibanco Holding SA (Preference) | 205,305 | 1,092,137 |
Itausa SA (Preference) | 384,830 | 660,243 |
M Dias Branco SA | 21,748 | 139,933 |
Metalurgica Gerdau SA (Preference) | 176,853 | 362,703 |
Neoenergia SA | 61,031 | 211,961 |
Petroleo Brasileiro SA (Preference) | 463,811 | 3,194,953 |
Rumo SA | 143,560 | 634,691 |
Sao Martinho SA | 71,966 | 505,728 |
Telefonica Brasil SA | 85,813 | 768,645 |
TIM SA | 203,816 | 614,065 |
TOTVS SA | 21,252 | 106,729 |
Transmissora Alianca de Energia Eletrica S/A | 79,497 | 534,211 |
Vale SA | 230,251 | 3,152,522 |
WEG SA | 133,682 | 873,139 |
24,027,463 | ||
Chile — 1.2% | ||
Banco de Chile | 5,970,493 | 613,393 |
Banco Santander Chile | 6,048,872 | 263,717 |
Cencosud SA | 369,911 | 599,297 |
Cia Cervecerias Unidas SA | 31,458 | 178,836 |
Cia Sud Americana de Vapores SA | 6,726,703 | 373,539 |
Colbun SA | 2,804,233 | 407,131 |
INVESTMENTS | SHARES | VALUE($) |
Chile — continued | ||
Embotelladora Andina SA (Preference), Class B | 123,543 | 251,227 |
Empresas CMPC SA | 13,918 | 24,881 |
Enel Americas SA * | 3,807,069 | 391,341 |
Enel Chile SA | 3,750,365 | 222,089 |
3,325,451 | ||
China — 22.8% | ||
3SBio, Inc. (a) | 309,500 | 275,344 |
Agricultural Bank of China Ltd., Class A | 1,718,400 | 840,479 |
An Hui Wenergy Co. Ltd., Class A | 306,900 | 265,001 |
Angang Steel Co. Ltd., Class H | 309,800 | 68,111 |
Anhui Conch Cement Co. Ltd., Class H | 500 | 1,244 |
Anhui Expressway Co. Ltd., Class A | 279,200 | 385,581 |
ANTA Sports Products Ltd. | 17,600 | 199,047 |
BAIC Motor Corp. Ltd., Class H (a) | 524,000 | 152,924 |
Bank of Beijing Co. Ltd., Class A | 572,800 | 355,960 |
Bank of Changsha Co. Ltd., Class A | 270,700 | 271,020 |
Bank of China Ltd., Class H | 6,664,000 | 2,327,971 |
Bank of Communications Co. Ltd., Class A | 926,900 | 710,850 |
Bank of Shanghai Co. Ltd., Class A | 416,500 | 344,469 |
Baoshan Iron & Steel Co. Ltd., Class A | 422,100 | 359,881 |
Beijing Enterprises Holdings Ltd. | 80,500 | 268,215 |
Bosideng International Holdings Ltd. | 744,000 | 293,753 |
BYD Electronic International Co. Ltd. | 110,500 | 461,284 |
CGN Power Co. Ltd., Class H (a) | 2,719,000 | 653,396 |
China CITIC Bank Corp. Ltd., Class H | 1,835,000 | 818,609 |
China Coal Energy Co. Ltd., Class H | 469,000 | 368,384 |
China Communications Services Corp. Ltd., Class H | 774,000 | 316,586 |
China Construction Bank Corp., Class H | 3,076,000 | 1,739,657 |
China Everbright Bank Co. Ltd., Class H | 509,000 | 145,191 |
China Feihe Ltd. (a) | 403,000 | 250,413 |
China International Marine Containers Group Co. Ltd., Class A | 323,200 | 291,350 |
China Lesso Group Holdings Ltd. | 226,000 | 121,356 |
China Medical System Holdings Ltd. | 353,000 | 564,482 |
China Merchants Energy Shipping Co. Ltd., Class A | 320,800 | 280,936 |
China Merchants Port Group Co. Ltd., Class A | 72,800 | 155,710 |
China Merchants Port Holdings Co. Ltd. | 304,000 | 386,972 |
China Minsheng Banking Corp. Ltd., Class H | 792,800 | 263,575 |
China National Accord Medicines Corp. Ltd., Class A | 43,700 | 171,444 |
China National Building Material Co. Ltd., Class H | 604,250 | 287,621 |
144 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
China — continued | ||
China National Chemical Engineering Co. Ltd., Class A | 133,100 | 126,966 |
China National Medicines Corp. Ltd., Class A | 65,300 | 255,956 |
China Petroleum & Chemical Corp., Class H | 1,598,000 | 817,278 |
China Resources Cement Holdings Ltd. | 128,000 | 32,912 |
China Resources Pharmaceutical Group Ltd. (a) | 451,500 | 280,470 |
China Resources Power Holdings Co. Ltd. | 288,000 | 558,113 |
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Class A | 69,500 | 408,345 |
China Shenhua Energy Co. Ltd., Class H | 426,000 | 1,305,678 |
China South Publishing & Media Group Co. Ltd., Class A | 320,000 | 493,429 |
China United Network Communications Ltd., Class A | 738,100 | 448,336 |
China Yangtze Power Co. Ltd., Class A | 123,000 | 378,187 |
Chinese Universe Publishing and Media Group Co. Ltd., Class A | 257,000 | 404,975 |
Chongqing Changan Automobile Co. Ltd., Class A | 209,930 | 433,003 |
Chongqing Rural Commercial Bank Co. Ltd., Class H | 728,000 | 275,607 |
CITIC Ltd. | 717,000 | 609,406 |
COSCO SHIPPING Energy Transportation Co. Ltd., Class H | 110,000 | 116,659 |
COSCO SHIPPING Holdings Co. Ltd., Class H | 569,850 | 579,559 |
COSCO SHIPPING Ports Ltd. | 354,000 | 213,565 |
CSG Holding Co. Ltd., Class A | 195,700 | 144,189 |
CSPC Pharmaceutical Group Ltd. | 264,000 | 230,596 |
Daqin Railway Co. Ltd., Class A | 384,000 | 377,076 |
Datang International Power Generation Co. Ltd., Class H | 424,000 | 63,990 |
Dong-E-E-Jiao Co. Ltd., Class A | 44,500 | 281,364 |
Dongfeng Motor Group Co. Ltd., Class H | 248,000 | 109,176 |
Dongguan Development Holdings Co. Ltd., Class A | 189,000 | 232,370 |
ENN Energy Holdings Ltd. | 94,000 | 712,064 |
Fosun International Ltd. | 43,076 | 25,809 |
Foxconn Industrial Internet Co. Ltd., Class A | 161,800 | 324,921 |
Fujian Sunner Development Co. Ltd., Class A | 77,500 | 189,980 |
G-bits Network Technology Xiamen Co. Ltd., Class A | 5,600 | 202,876 |
GD Power Development Co. Ltd., Class A | 831,300 | 412,159 |
Great Wall Motor Co. Ltd., Class H | 444,500 | 621,363 |
Gree Electric Appliances, Inc. of Zhuhai, Class A | 71,900 | 332,374 |
INVESTMENTS | SHARES | VALUE($) |
China — continued | ||
Guangdong Baolihua New Energy Stock Co. Ltd., Class A | 511,200 | 336,975 |
Guangxi Guiguan Electric Power Co. Ltd., Class A | 404,400 | 302,025 |
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class H | 72,000 | 191,542 |
Guangzhou Shiyuan Electronic Technology Co. Ltd., Class A | 20,500 | 117,363 |
Haitian International Holdings Ltd. | 159,000 | 379,308 |
Heilongjiang Agriculture Co. Ltd., Class A | 244,700 | 424,679 |
Henan Shuanghui Investment & Development Co. Ltd., Class A | 16,500 | 58,861 |
Hengan International Group Co. Ltd. | 72,000 | 241,149 |
HLA Group Corp. Ltd. | 282,700 | 286,458 |
Hopson Development Holdings Ltd. * | 60,823 | 35,614 |
Huabao Flavours & Fragrances Co. Ltd., Class A | 58,100 | 176,255 |
Huadian Power International Corp. Ltd., Class H | 1,004,000 | 403,132 |
Huaibei Mining Holdings Co. Ltd., Class A | 152,200 | 304,063 |
Huapont Life Sciences Co. Ltd., Class A | 417,600 | 276,533 |
Huaxia Bank Co. Ltd., Class A | 453,500 | 346,029 |
Huaxin Cement Co. Ltd., Class H | 200,500 | 191,205 |
Huayu Automotive Systems Co. Ltd., Class A | 93,200 | 222,778 |
Hubei Jumpcan Pharmaceutical Co. Ltd., Class A | 97,900 | 361,493 |
Hunan Valin Steel Co. Ltd., Class A | 308,200 | 244,730 |
Industrial & Commercial Bank of China Ltd., Class H | 4,033,000 | 1,932,794 |
Inner Mongolia Dian Tou Energy Corp. Ltd., Class A | 231,616 | 429,436 |
Inner Mongolia ERDOS Resources Co. Ltd., Class A | 175,880 | 224,146 |
Inner Mongolia Yitai Coal Co. Ltd., Class B * | 417,200 | 572,594 |
Jiangling Motors Corp. Ltd., Class A | 110,400 | 244,998 |
Jiangsu Expressway Co. Ltd., Class A | 159,700 | 214,241 |
Jiangsu Financial Leasing Co. Ltd., Class A | 467,700 | 304,598 |
Jiangsu Hengli Hydraulic Co. Ltd., Class A | 46,456 | 356,341 |
Jiangsu Phoenix Publishing & Media Corp. Ltd., Class A | 206,300 | 270,013 |
Jiangsu Yuyue Medical Equipment & Supply Co. Ltd., Class A | 76,900 | 352,450 |
Jiangsu Zhongtian Technology Co. Ltd., Class A | 172,900 | 330,040 |
Joincare Pharmaceutical Group Industry Co. Ltd., Class A | 168,700 | 272,482 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 145 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
China — continued | ||
Jointo Energy Investment Co. Ltd. Hebei, Class A | 317,300 | 229,659 |
Jointown Pharmaceutical Group Co. Ltd., Class A | 308,300 | 298,962 |
Joyoung Co. Ltd., Class A | 51,871 | 94,352 |
JOYY, Inc., ADR | 6,440 | 250,645 |
Kingboard Holdings Ltd. | 172,500 | 420,085 |
KingClean Electric Co. Ltd., Class A | 83,018 | 259,827 |
Kunlun Energy Co. Ltd. | 420,000 | 349,904 |
Kweichow Moutai Co. Ltd., Class A | 8,100 | 1,859,288 |
Lao Feng Xiang Co. Ltd., Class A | 18,200 | 154,253 |
Li Ning Co. Ltd. | 89,000 | 272,732 |
Livzon Pharmaceutical Group, Inc., Class A | 54,200 | 258,436 |
Maanshan Iron & Steel Co. Ltd., Class H | 238,000 | 39,249 |
Metallurgical Corp. of China Ltd., Class A | 494,400 | 222,968 |
Nanjing Iron & Steel Co. Ltd., Class A | 620,700 | 321,238 |
New China Life Insurance Co. Ltd., Class A | 56,500 | 257,347 |
Ningbo Sanxing Medical Electric Co. Ltd., Class A | 145,600 | 323,626 |
Offshore Oil Engineering Co. Ltd., Class A | 264,100 | 223,633 |
PetroChina Co. Ltd., Class A | 395,000 | 383,488 |
Ping An Insurance Group Co. of China Ltd., Class H | 84,000 | 426,088 |
Postal Savings Bank of China Co. Ltd., Class A | 540,800 | 336,690 |
Qingdao Port International Co. Ltd., Class A | 358,900 | 292,784 |
Qinhuangdao Port Co. Ltd., Class A | 726,900 | 294,031 |
Shaanxi Coal Industry Co. Ltd., Class A | 235,100 | 577,676 |
Shandong Buchang Pharmaceuticals Co. Ltd., Class A | 85,600 | 202,257 |
Shandong Hualu Hengsheng Chemical Co. Ltd., Class A | 98,540 | 431,946 |
Shandong Publishing & Media Co. Ltd., Class A | 399,800 | 449,723 |
Shandong Weigao Group Medical Polymer Co. Ltd., Class H | 313,200 | 290,710 |
Shanghai International Port Group Co. Ltd., Class A | 422,000 | 287,469 |
Shanghai Mechanical and Electrical Industry Co. Ltd., Class A | 138,300 | 235,744 |
Shanghai Pharmaceuticals Holding Co. Ltd., Class H | 29,400 | 42,771 |
Shanghai Rural Commercial Bank Co. Ltd., Class A | 370,800 | 301,078 |
Shanghai Tunnel Engineering Co. Ltd., Class A | 374,000 | 286,919 |
Shanghai Waigaoqiao Free Trade Zone Group Co. Ltd., Class A | 26,000 | 37,959 |
Shanxi Coal International Energy Group Co. Ltd., Class A | 121,800 | 270,493 |
INVESTMENTS | SHARES | VALUE($) |
China — continued | ||
Shanxi Coking Coal Energy Group Co. Ltd., Class A | 166,900 | 196,746 |
Shanxi Lu'an Environmental Energy Development Co. Ltd., Class A | 136,300 | 353,411 |
Shenzhen Jinjia Group Co. Ltd., Class A | 86,300 | 69,111 |
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A | 14,200 | 553,168 |
Shenzhen Salubris Pharmaceuticals Co. Ltd., Class A | 68,400 | 303,477 |
Shenzhen Transsion Holdings Co. Ltd., Class A | 18,820 | 344,700 |
Sichuan Kelun Pharmaceutical Co. Ltd., Class A | 85,200 | 318,956 |
Sinoma International Engineering Co., Class A | 130,800 | 175,792 |
Sinopharm Group Co. Ltd., Class H | 141,200 | 337,649 |
Sinotrans Ltd., Class A | 394,300 | 235,963 |
Sinotruk Hong Kong Ltd. | 217,000 | 408,720 |
Skyworth Digital Co. Ltd., Class A | 110,500 | 181,720 |
Tangshan Jidong Cement Co. Ltd., Class A | 145,000 | 141,294 |
TangShan Port Group Co. Ltd., Class A | 1,151,800 | 558,792 |
Tasly Pharmaceutical Group Co. Ltd., Class A | 151,800 | 306,276 |
Tian Di Science & Technology Co. Ltd., Class A | 544,200 | 382,510 |
Tianhe Chemicals Group Ltd. ‡ * | 20,000 | — |
Triangle Tyre Co. Ltd., Class A | 136,000 | 276,570 |
Wanxiang Qianchao Co. Ltd., Class A | 750,300 | 528,714 |
Weichai Power Co. Ltd., Class A | 203,156 | 384,816 |
Wuliangye Yibin Co. Ltd., Class A | 32,800 | 696,865 |
Xiamen C & D, Inc., Class A | 187,300 | 249,445 |
Xinhua Winshare Publishing and Media Co. Ltd., Class A | 256,700 | 447,505 |
Yangzijiang Shipbuilding Holdings Ltd. | 659,800 | 699,377 |
Yankuang Energy Group Co. Ltd., Class H | 476,000 | 826,697 |
Yintai Gold Co. Ltd., Class A | 221,620 | 408,657 |
Yuexiu Property Co. Ltd. | 127,400 | 132,516 |
Yunnan Baiyao Group Co. Ltd., Class A | 30,560 | 211,634 |
Yutong Bus Co. Ltd., Class A | 168,300 | 312,738 |
Zhejiang Conba Pharmaceutical Co. Ltd., Class A | 405,300 | 289,248 |
Zhejiang Expressway Co. Ltd., Class H | 428,000 | 322,171 |
Zhejiang Hisoar Pharmaceutical Co. Ltd., Class A | 209,900 | 206,115 |
Zhejiang Sanhua Intelligent Controls Co. Ltd., Class A | 149,480 | 545,268 |
Zhejiang Semir Garment Co. Ltd., Class A | 339,200 | 282,056 |
Zhejiang Weixing New Building Materials Co. Ltd., Class A | 93,897 | 210,940 |
146 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
China — continued | ||
Zhengzhou Coal Mining Machinery Group Co. Ltd., Class A | 234,300 | 395,261 |
Zhongjin Gold Corp. Ltd., Class A | 198,100 | 293,528 |
Zhongsheng Group Holdings Ltd. | 78,500 | 181,280 |
Zijin Mining Group Co. Ltd., Class H | 404,000 | 624,952 |
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class H | 512,600 | 266,491 |
61,445,051 | ||
Colombia — 0.2% | ||
Bancolombia SA (Preference) | 64,377 | 412,914 |
Grupo Aval Acciones y Valores SA (Preference) | 512,697 | 57,298 |
470,212 | ||
Czech Republic — 0.5% | ||
CEZ A/S | 24,751 | 1,059,074 |
Moneta Money Bank A/S (a) | 65,436 | 252,987 |
1,312,061 | ||
Egypt — 0.2% | ||
Commercial International Bank Egypt SAE | 246,288 | 481,121 |
Greece — 1.7% | ||
Eurobank Ergasias Services and Holdings SA * | 213,849 | 349,541 |
Hellenic Telecommunications Organization SA | 51,347 | 719,700 |
JUMBO SA | 27,357 | 719,609 |
Motor Oil Hellas Corinth Refineries SA | 10,042 | 239,072 |
Mytilineos SA | 22,482 | 832,111 |
National Bank of Greece SA * | 72,026 | 412,518 |
OPAP SA | 47,489 | 804,382 |
Piraeus Financial Holdings SA * | 149,524 | 443,211 |
4,520,144 | ||
Hong Kong — 0.1% | ||
Kingboard Laminates Holdings Ltd. | 260,000 | 243,826 |
Hungary — 0.6% | ||
Magyar Telekom Telecommunications plc | 148,542 | 230,960 |
MOL Hungarian Oil & Gas plc | 67,395 | 536,252 |
Richter Gedeon Nyrt. | 32,101 | 752,680 |
1,519,892 | ||
India — 10.9% | ||
Adani Power Ltd. * | 137,835 | 601,030 |
Aurobindo Pharma Ltd. | 21,927 | 223,750 |
Bajaj Auto Ltd. | 13,439 | 857,285 |
Bajaj Holdings & Investment Ltd. | 1,337 | 111,233 |
Bharat Petroleum Corp. Ltd. | 58,691 | 246,042 |
INVESTMENTS | SHARES | VALUE($) |
India — continued | ||
Castrol India Ltd. | 20,465 | 33,469 |
Cipla Ltd. | 55,028 | 793,236 |
Colgate-Palmolive India Ltd. | 8,810 | 223,679 |
Dabur India Ltd. | 69,745 | 443,064 |
Divi's Laboratories Ltd. | 11,541 | 469,679 |
Dr Reddy's Laboratories Ltd. | 10,714 | 691,531 |
GAIL India Ltd. | 107,552 | 154,425 |
Glenmark Pharmaceuticals Ltd. | 12,915 | 116,057 |
HCL Technologies Ltd. | 72,636 | 1,114,122 |
Hindalco Industries Ltd. | 27,922 | 154,123 |
Hindustan Petroleum Corp. Ltd. * | 29,003 | 86,287 |
Hindustan Unilever Ltd. | 90,743 | 2,708,078 |
Hindustan Zinc Ltd. | 19,854 | 70,500 |
ICICI Lombard General Insurance Co. Ltd. (a) | 3,918 | 64,664 |
Indian Oil Corp. Ltd. | 145,837 | 157,101 |
Indus Towers Ltd. * | 117,727 | 243,621 |
Infosys Ltd. | 253,360 | 4,166,700 |
ITC Ltd. | 348,413 | 1,793,470 |
Jindal Steel & Power Ltd. | 28,354 | 215,892 |
Jio Financial Services Ltd. * | 71,435 | 187,899 |
JSW Steel Ltd. | 45,206 | 399,986 |
Mphasis Ltd. | 2,146 | 54,788 |
Nestle India Ltd. | 3,338 | 971,989 |
NHPC Ltd. | 346,874 | 209,178 |
NMDC Ltd. | 157,726 | 292,310 |
NTPC Ltd. | 278,668 | 789,509 |
Oil & Natural Gas Corp. Ltd. | 222,604 | 498,096 |
Oil India Ltd. | 23,861 | 85,748 |
Petronet LNG Ltd. | 86,821 | 208,107 |
Piramal Enterprises Ltd. | 7,337 | 85,982 |
Power Grid Corp. of India Ltd. | 227,348 | 552,169 |
REC Ltd. | 145,788 | 503,917 |
Reliance Industries Ltd. | 75,157 | 2,066,651 |
Steel Authority of India Ltd. | 100,758 | 101,522 |
Sun Pharmaceutical Industries Ltd. | 49,472 | 646,805 |
Tata Consultancy Services Ltd. | 59,505 | 2,408,976 |
Tata Motors Ltd. | 54,668 | 412,908 |
Tata Power Co. Ltd. (The) | 281,094 | 808,740 |
Tata Steel Ltd. | 587,213 | 837,945 |
Titan Co. Ltd. | 16,892 | 647,568 |
Torrent Power Ltd. | 16,195 | 141,473 |
United Breweries Ltd. | 3,415 | 66,277 |
UPL Ltd. | 32,476 | 210,865 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 147 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
India — continued | ||
Vedanta Ltd. | 151,324 | 393,795 |
Zydus Lifesciences Ltd. | 19,138 | 131,873 |
29,454,114 | ||
Indonesia — 4.3% | ||
Adaro Energy Indonesia Tbk. PT | 4,010,200 | 647,043 |
Astra International Tbk. PT | 2,557,500 | 930,366 |
Bank Central Asia Tbk. PT | 3,163,500 | 1,742,837 |
Bank Mandiri Persero Tbk. PT | 3,425,400 | 1,223,731 |
Bank Rakyat Indonesia Persero Tbk. PT | 2,286,400 | 714,920 |
Bukit Asam Tbk. PT | 2,602,500 | 406,308 |
Charoen Pokphand Indonesia Tbk. PT * | 489,900 | 178,874 |
Gudang Garam Tbk. PT | 201,500 | 295,242 |
Hanjaya Mandala Sampoerna Tbk. PT | 4,684,300 | 268,348 |
Indofood CBP Sukses Makmur Tbk. PT | 717,600 | 467,558 |
Indofood Sukses Makmur Tbk. PT | 1,393,000 | 583,185 |
Kalbe Farma Tbk. PT | 5,155,000 | 548,258 |
Perusahaan Gas Negara Tbk. PT | 5,229,800 | 413,486 |
Sarana Menara Nusantara Tbk. PT | 5,321,900 | 298,475 |
Sumber Alfaria Trijaya Tbk. PT | 1,789,600 | 325,587 |
Telkom Indonesia Persero Tbk. PT | 5,705,600 | 1,250,758 |
Unilever Indonesia Tbk. PT | 1,505,900 | 343,176 |
United Tractors Tbk. PT | 297,400 | 470,638 |
Vale Indonesia Tbk. PT | 447,800 | 139,557 |
XL Axiata Tbk. PT | 2,591,700 | 370,473 |
11,618,820 | ||
Kuwait — 1.5% | ||
Agility Public Warehousing Co. KSC * | 79,145 | 134,758 |
Humansoft Holding Co. KSC | 35,203 | 345,830 |
Kuwait Finance House KSCP | 423,744 | 937,483 |
Mobile Telecommunications Co. KSCP | 493,551 | 767,804 |
National Bank of Kuwait SAKP | 688,495 | 1,951,715 |
4,137,590 | ||
Malaysia — 2.1% | ||
Astro Malaysia Holdings Bhd. | 664,500 | 57,880 |
Axiata Group Bhd. | 434,400 | 198,756 |
CELCOMDIGI Bhd. | 505,700 | 448,969 |
Hong Leong Financial Group Bhd. | 15,800 | 58,232 |
IHH Healthcare Bhd. | 104,600 | 131,670 |
Kuala Lumpur Kepong Bhd. | 37,900 | 174,952 |
Malayan Banking Bhd. | 72,508 | 137,298 |
Maxis Bhd. | 628,200 | 522,342 |
Nestle Malaysia Bhd. | 11,600 | 301,412 |
Petronas Chemicals Group Bhd. | 372,900 | 575,014 |
INVESTMENTS | SHARES | VALUE($) |
Malaysia — continued | ||
Petronas Gas Bhd. | 185,900 | 671,105 |
PPB Group Bhd. | 168,460 | 536,724 |
RHB Bank Bhd. | 155,800 | 182,489 |
Telekom Malaysia Bhd. | 423,300 | 450,614 |
Tenaga Nasional Bhd. | 442,800 | 920,080 |
YTL Corp. Bhd. | 931,100 | 285,619 |
5,653,156 | ||
Mexico — 7.5% | ||
Alfa SAB de CV, Class A | 1,033,415 | 641,979 |
America Movil SAB de CV | 2,316,261 | 1,915,550 |
Arca Continental SAB de CV | 95,785 | 859,510 |
Banco del Bajio SA (a) | 149,015 | 453,682 |
Cemex SAB de CV * | 1,564,695 | 936,439 |
Coca-Cola Femsa SAB de CV | 109,413 | 831,779 |
Controladora AXTEL SAB de CV * | 1,041,949 | 13,292 |
El Puerto de Liverpool SAB de CV, Class C1 | 63,546 | 323,528 |
Fibra Uno Administracion SA de CV, REIT | 628,296 | 955,216 |
Fomento Economico Mexicano SAB de CV | 76,736 | 867,595 |
Gruma SAB de CV, Class B | 49,817 | 867,687 |
Grupo Aeroportuario del Centro Norte SAB de CV | 71,900 | 551,184 |
Grupo Aeroportuario del Pacifico SAB de CV, Class B | 62,638 | 731,304 |
Grupo Aeroportuario del Sureste SAB de CV, Class B | 37,112 | 802,800 |
Grupo Bimbo SAB de CV | 291,410 | 1,182,838 |
Grupo Carso SAB de CV | 65,440 | 419,449 |
Grupo Financiero Banorte SAB de CV, Class O | 301,399 | 2,441,584 |
Grupo Mexico SAB de CV | 209,432 | 869,720 |
Kimberly-Clark de Mexico SAB de CV, Class A | 204,725 | 375,180 |
Megacable Holdings SAB de CV | 149,728 | 293,576 |
Orbia Advance Corp. SAB de CV | 327,077 | 530,827 |
Promotora y Operadora de Infraestructura SAB de CV | 63,445 | 522,826 |
Qualitas Controladora SAB de CV | 45,945 | 379,787 |
Regional SAB de CV | 56,270 | 426,465 |
Wal-Mart de Mexico SAB de CV | 561,942 | 2,013,503 |
20,207,300 | ||
Pakistan — 0.1% | ||
Oil & Gas Development Co. Ltd. | 968,242 | 344,930 |
Philippines — 0.3% | ||
Globe Telecom, Inc. | 3,178 | 98,577 |
Manila Electric Co. | 66,450 | 415,752 |
148 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Philippines — continued | ||
PLDT, Inc. | 13,315 | 284,516 |
Puregold Price Club, Inc. | 38,700 | 18,484 |
817,329 | ||
Qatar — 1.7% | ||
Commercial Bank PSQC (The) | 170,929 | 240,643 |
Industries Qatar QSC | 244,480 | 821,293 |
Mesaieed Petrochemical Holding Co. | 341,971 | 149,589 |
Ooredoo QPSC | 259,363 | 704,504 |
Qatar Electricity & Water Co. QSC | 125,261 | 569,128 |
Qatar Fuel QSC | 63,704 | 259,820 |
Qatar Gas Transport Co. Ltd. | 745,360 | 720,590 |
Qatar International Islamic Bank QSC | 51,489 | 130,808 |
Qatar Islamic Bank SAQ | 123,927 | 592,236 |
Qatar Navigation QSC | 108,116 | 268,054 |
4,456,665 | ||
Romania — 0.1% | ||
NEPI Rockcastle NV | 52,593 | 284,052 |
Russia — 0.1% | ||
Alrosa PJSC ‡ | 200,448 | 4,122 |
Federal Grid Co. - Rosseti PJSC ‡ * | 127,925,624 | 2,782 |
Federal Grid Co. - ROSSETI PUBLIC JOINT-STOCK COMPANY ‡ * | 42,872,768 | 839 |
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 |
116,731 | ||
Saudi Arabia — 4.8% | ||
Abdullah Al Othaim Markets Co. | 111,481 | 387,351 |
Almarai Co. JSC | 28,098 | 418,669 |
INVESTMENTS | SHARES | VALUE($) |
Saudi Arabia — continued | ||
Arab National Bank | 29,724 | 188,251 |
Arabian Centres Co. Ltd. | 24,977 | 133,553 |
Arabian Internet & Communications Services Co. | 8,091 | 675,335 |
Dr Sulaiman Al Habib Medical Services Group Co. | 15,040 | 1,010,215 |
Elm Co. | 4,590 | 857,903 |
Etihad Etisalat Co. | 77,948 | 957,832 |
Mouwasat Medical Services Co. | 823 | 21,937 |
Riyad Bank | 12,238 | 86,608 |
SABIC Agri-Nutrients Co. | 26,240 | 936,848 |
Sahara International Petrochemical Co. | 59,191 | 509,837 |
Saudi Airlines Catering Co. | 23,129 | 643,637 |
Saudi Arabian Mining Co. * | 44,951 | 430,685 |
Saudi Arabian Oil Co. (a) | 252,784 | 2,245,824 |
Saudi Cement Co. | 32,869 | 435,398 |
Saudi Electricity Co. | 141,270 | 670,714 |
Saudi Investment Bank (The) | 83,305 | 326,543 |
Saudi Telecom Co. | 160,430 | 1,643,464 |
Yanbu Cement Co. | 48,093 | 413,423 |
12,994,027 | ||
South Africa — 3.1% | ||
African Rainbow Minerals Ltd. | 41,439 | 341,473 |
Anglo American Platinum Ltd. | 5,753 | 192,217 |
Aspen Pharmacare Holdings Ltd. | 19,632 | 178,323 |
Bid Corp. Ltd. | 26,791 | 568,364 |
Bidvest Group Ltd. (The) | 65,761 | 930,833 |
Exxaro Resources Ltd. | 57,833 | 580,464 |
Impala Platinum Holdings Ltd. | 101,100 | 421,141 |
Investec Ltd. | 63,757 | 348,829 |
MTN Group Ltd. | 216,340 | 1,056,076 |
MultiChoice Group * | 97,927 | 366,803 |
Nedbank Group Ltd. | 65,051 | 700,055 |
Pepkor Holdings Ltd. (a) | 115,266 | 105,139 |
Shoprite Holdings Ltd. | 27,772 | 355,884 |
Sibanye Stillwater Ltd. | 246,224 | 314,072 |
Tiger Brands Ltd. | 48,526 | 449,261 |
Vodacom Group Ltd. | 115,558 | 629,082 |
Woolworths Holdings Ltd. | 213,085 | 793,345 |
8,331,361 | ||
Taiwan — 11.4% | ||
Accton Technology Corp. | 78,000 | 1,208,553 |
Asia Cement Corp. | 153,000 | 188,936 |
Capital Securities Corp. | 773,000 | 340,713 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 149 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Taiwan — continued | ||
Catcher Technology Co. Ltd. | 86,000 | 482,451 |
Cheng Shin Rubber Industry Co. Ltd. | 551,000 | 752,965 |
Chicony Electronics Co. Ltd. | 58,551 | 225,407 |
China Airlines Ltd. | 888,000 | 532,317 |
China Motor Corp. | 143,000 | 383,403 |
China Steel Corp. | 256,000 | 190,990 |
Chunghwa Telecom Co. Ltd. | 451,000 | 1,613,021 |
CTBC Financial Holding Co. Ltd. | 2,225,395 | 1,675,952 |
E.Sun Financial Holding Co. Ltd. | 1,335,244 | 983,860 |
Eclat Textile Co. Ltd. | 31,000 | 493,404 |
Eva Airways Corp. | 534,000 | 452,840 |
Evergreen Marine Corp. Taiwan Ltd. | 151,800 | 505,157 |
Far Eastern New Century Corp. | 510,000 | 464,667 |
Far EasTone Telecommunications Co. Ltd. | 288,000 | 674,619 |
Feng TAY Enterprise Co. Ltd. | 88,960 | 491,221 |
First Financial Holding Co. Ltd. | 1,286,087 | 1,029,058 |
Formosa Chemicals & Fibre Corp. | 313,000 | 588,902 |
Formosa Taffeta Co. Ltd. | 294,000 | 228,679 |
Fubon Financial Holding Co. Ltd. | 277,444 | 515,933 |
Hotai Motor Co. Ltd. | 9,360 | 174,650 |
Largan Precision Co. Ltd. | 16,000 | 1,024,750 |
Lite-On Technology Corp. | 297,000 | 924,713 |
Mega Financial Holding Co. Ltd. | 1,319,101 | 1,496,829 |
Nan Ya Plastics Corp. | 661,000 | 1,264,706 |
Nien Made Enterprise Co. Ltd. | 55,000 | 486,604 |
Novatek Microelectronics Corp. | 17,000 | 239,412 |
Pou Chen Corp. | 684,000 | 609,692 |
President Chain Store Corp. | 107,000 | 851,116 |
SinoPac Financial Holdings Co. Ltd. | 1,976,500 | 1,090,071 |
Taiwan Cooperative Financial Holding Co. Ltd. | 1,214,609 | 943,225 |
Taiwan Fertilizer Co. Ltd. | 319,000 | 584,492 |
Taiwan Mobile Co. Ltd. | 311,000 | 919,088 |
Taiwan Semiconductor Manufacturing Co. Ltd. | 176,000 | 2,874,523 |
Uni-President Enterprises Corp. | 630,000 | 1,321,708 |
Yang Ming Marine Transport Corp. | 224,000 | 291,957 |
Yuanta Financial Holding Co. Ltd. | 1,723,746 | 1,295,080 |
Yulon Motor Co. Ltd. | 143,000 | 328,410 |
30,744,074 | ||
Thailand — 3.7% | ||
Advanced Info Service PCL | 177,400 | 1,086,559 |
Bangkok Bank PCL | 110,100 | 481,555 |
Bangkok Dusit Medical Services PCL, Class F | 1,174,700 | 865,112 |
Banpu PCL | 1,889,100 | 399,323 |
Bumrungrad Hospital PCL | 91,000 | 657,703 |
INVESTMENTS | SHARES | VALUE($) |
Thailand — continued | ||
Central Retail Corp. PCL, NVDR | 421,400 | 430,978 |
CP ALL PCL, NVDR | 210,200 | 323,050 |
CP Axtra PCL, NVDR | 143,000 | 112,433 |
Digital Telecommunications Infrastructure Fund, Class F | 1,404,100 | 314,475 |
Electricity Generating PCL | 93,600 | 317,731 |
Home Product Center PCL | 1,210,500 | 400,776 |
Intouch Holdings PCL, NVDR | 255,500 | 504,681 |
Krung Thai Bank PCL | 1,516,900 | 793,133 |
Minor International PCL, NVDR | 588,300 | 458,451 |
Osotspa PCL, NVDR | 299,800 | 196,048 |
PTT Exploration & Production PCL | 235,500 | 1,075,489 |
PTT PCL, NVDR | 301,800 | 279,344 |
Ratch Group PCL | 356,600 | 319,937 |
Thai Oil PCL | 270,100 | 353,643 |
Thai Union Group PCL, Class F | 394,300 | 148,097 |
TMBThanachart Bank PCL, NVDR | 9,155,600 | 425,314 |
True Corp. PCL, NVDR | 671,100 | 113,179 |
10,057,011 | ||
Turkey — 9.3% | ||
AG Anadolu Grubu Holding A/S | 79,653 | 577,725 |
Akbank TAS | 773,722 | 804,889 |
Akcansa Cimento A/S | 80,882 | 481,535 |
Aksa Enerji Uretim A/S | 267,752 | 331,295 |
Alarko Holding A/S | 129,773 | 464,142 |
Alfa Solar Enerji Sanayi ve Ticaret A/S | 102,854 | 451,451 |
Anadolu Efes Biracilik ve Malt Sanayii A/S | 153,159 | 540,019 |
Aselsan Elektronik Sanayi ve Ticaret A/S | 487,327 | 711,392 |
Aygaz A/S | 73,366 | 355,959 |
Bera Holding AS | 561,607 | 339,313 |
BIM Birlesik Magazalar A/S | 94,894 | 911,436 |
Cimsa Cimento Sanayi ve Ticaret A/S | 529,094 | 686,794 |
Coca-Cola Icecek A/S | 42,393 | 551,505 |
Dogan Sirketler Grubu Holding A/S | 1,158,351 | 559,557 |
Dogus Otomotiv Servis ve Ticaret A/S | 58,087 | 509,711 |
EGE Endustri ve Ticaret A/S | 782 | 244,663 |
EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret A/S | 297,272 | 460,616 |
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S, REIT | 923,902 | 214,017 |
Enerjisa Enerji A/S (a) | 306,157 | 525,646 |
Enka Insaat ve Sanayi A/S | 466,018 | 499,985 |
Ford Otomotiv Sanayi A/S | 21,572 | 598,959 |
Haci Omer Sabanci Holding A/S | 317,512 | 599,836 |
150 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Turkey — continued | ||
Is Yatirim Menkul Degerler A/S | 315,634 | 472,795 |
Kimteks Poliuretan Sanayi ve Ticaret A/S | 136,349 | 349,067 |
KOC Holding A/S | 176,154 | 852,071 |
Kontrolmatik Enerji ve Muhendislik A/S | 48,008 | 445,001 |
Koza Altin Isletmeleri A/S | 581,802 | 451,155 |
Koza Anadolu Metal Madencilik Isletmeleri A/S * | 244,416 | 454,347 |
Mavi Giyim Sanayi ve Ticaret A/S, Class B (a) | 111,064 | 374,537 |
Migros Ticaret A/S | 50,321 | 600,065 |
MLP Saglik Hizmetleri A/S * (a) | 93,795 | 506,414 |
Nuh Cimento Sanayi A/S | 28,239 | 341,031 |
ODAS Elektrik Uretim ve Sanayi Ticaret A/S * | 940,653 | 392,281 |
Otokar Otomotiv ve Savunma Sanayi AS * | 6,377 | 89,960 |
Oyak Cimento Fabrikalari A/S * | 255,947 | 644,855 |
Pegasus Hava Tasimaciligi A/S * | 15,103 | 375,985 |
Qua Granite Hayal * | 129,792 | 25,299 |
Sok Marketler Ticaret A/S | 214,858 | 454,177 |
Tekfen Holding A/S | 236,716 | 341,375 |
Tofas Turk Otomobil Fabrikasi A/S | 64,016 | 544,105 |
Torunlar Gayrimenkul Yatirim Ortakligi A/S, REIT | 187,680 | 222,014 |
Turk Hava Yollari AO * | 105,510 | 809,602 |
Turk Telekomunikasyon A/S * | 623,457 | 422,914 |
Turk Traktor ve Ziraat Makineleri A/S | 18,512 | 473,794 |
Turkcell Iletisim Hizmetleri A/S * | 362,005 | 613,584 |
Turkiye Is Bankasi A/S, Class C | 973,890 | 723,906 |
Turkiye Petrol Rafinerileri A/S | 149,464 | 749,866 |
Turkiye Sise ve Cam Fabrikalari A/S | 352,985 | 591,418 |
Ulker Biskuvi Sanayi A/S * | 166,786 | 426,988 |
Yapi ve Kredi Bankasi A/S | 1,210,834 | 738,988 |
Zorlu Enerji Elektrik Uretim A/S * | 1,253,768 | 234,645 |
25,142,684 | ||
United Arab Emirates — 2.4% | ||
Abu Dhabi Commercial Bank PJSC | 422,811 | 924,359 |
Abu Dhabi Islamic Bank PJSC | 216,476 | 607,052 |
Abu Dhabi Ports Co. PJSC * | 348,321 | 566,152 |
Air Arabia PJSC | 700,630 | 499,769 |
Aldar Properties PJSC | 587,072 | 831,139 |
Dubai Islamic Bank PJSC | 432,843 | 636,362 |
Emirates Telecommunications Group Co. PJSC | 180,576 | 907,551 |
Multiply Group PJSC * | 810,488 | 751,005 |
National Marine Dredging Co. * | 68,712 | 406,323 |
Salik Co. PJSC | 351,528 | 305,302 |
6,435,014 |
INVESTMENTS | SHARES | VALUE($) |
United States — 0.3% | ||
JBS SA | 172,128 | 685,200 |
Total Common Stocks (Cost $271,012,781) | 268,825,279 | |
Total Investments — 99.8% (Cost $271,012,781) | 268,825,279 | |
Other Assets Less Liabilities — 0.2% | 673,623 | |
NET ASSETS — 100.0% | 269,498,902 |
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 |
‡ | 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. |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 151 |
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Banks | 16.3 % |
Oil, Gas & Consumable Fuels | 8.2 |
Metals & Mining | 5.3 |
Wireless Telecommunication Services | 4.5 |
Food Products | 3.8 |
Electric Utilities | 3.6 |
Diversified Telecommunication Services | 3.5 |
IT Services | 3.5 |
Industrial Conglomerates | 3.4 |
Pharmaceuticals | 3.3 |
Beverages | 3.0 |
Transportation Infrastructure | 2.9 |
Independent Power and Renewable Electricity Producers | 2.8 |
Consumer Staples Distribution & Retail | 2.8 |
Chemicals | 2.5 |
Machinery | 1.9 |
Construction Materials | 1.8 |
Automobiles | 1.8 |
Health Care Providers & Services | 1.7 |
Personal Care Products | 1.5 |
Textiles, Apparel & Luxury Goods | 1.5 |
Semiconductors & Semiconductor Equipment | 1.3 |
Specialty Retail | 1.1 |
Gas Utilities | 1.1 |
Financial Services | 1.1 |
Media | 1.0 |
Insurance | 1.0 |
Passenger Airlines | 1.0 |
Others (each less than 1.0%) | 12.8 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
MSCI Emerging Markets E-Mini Index | 12 | 12/15/2023 | USD | 551,280 | (24,505 ) |
152 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Abbreviations | |
MSCI | Morgan Stanley Capital International |
USD | United States Dollar |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 153 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 99.2% | ||
Australia — 11.0% | ||
AGL Energy Ltd. | 209,371 | 1,431,249 |
Altium Ltd. | 25,018 | 631,042 |
Alumina Ltd. * | 474,971 | 236,030 |
Ampol Ltd. | 49,343 | 1,000,565 |
Ansell Ltd. | 53,389 | 721,329 |
ANZ Group Holdings Ltd. | 24,986 | 394,004 |
APA Group | 156,134 | 818,445 |
Aurizon Holdings Ltd. | 124,023 | 270,136 |
BHP Group Ltd. | 43,397 | 1,228,460 |
BlueScope Steel Ltd. | 5,669 | 67,957 |
carsales.com Ltd. | 21,346 | 376,272 |
Charter Hall Group, REIT | 37,570 | 208,137 |
Cochlear Ltd. | 6,735 | 1,032,301 |
Coles Group Ltd. | 144,918 | 1,406,529 |
CSR Ltd. | 259,825 | 928,405 |
Dexus, REIT | 212,187 | 876,373 |
EBOS Group Ltd. | 11,182 | 228,272 |
Fortescue Metals Group Ltd. | 78,673 | 1,119,189 |
Glencore plc | 228,210 | 1,208,790 |
Goodman Group, REIT | 13,267 | 175,548 |
GPT Group (The), REIT | 409,029 | 943,969 |
Harvey Norman Holdings Ltd. (a) | 250,587 | 585,739 |
Iluka Resources Ltd. | 32,562 | 150,363 |
Incitec Pivot Ltd. | 253,741 | 442,952 |
JB Hi-Fi Ltd. | 36,918 | 1,061,206 |
Lottery Corp. Ltd. (The) | 314,749 | 908,545 |
Metcash Ltd. | 343,230 | 803,788 |
Mirvac Group, REIT | 198,708 | 230,552 |
New Hope Corp. Ltd. | 202,449 | 745,031 |
Origin Energy Ltd. | 264,160 | 1,532,353 |
Pilbara Minerals Ltd. (a) | 108,453 | 254,756 |
Ramsay Health Care Ltd. | 17,571 | 544,070 |
REA Group Ltd. | 3,050 | 280,004 |
Rio Tinto Ltd. | 15,278 | 1,141,238 |
Rio Tinto plc | 23,346 | 1,489,487 |
Santos Ltd. | 252,249 | 1,230,839 |
Sonic Healthcare Ltd. | 55,960 | 1,024,687 |
South32 Ltd. | 336,404 | 719,697 |
Stockland, REIT | 388,401 | 876,599 |
Tabcorp Holdings Ltd. | 660,627 | 325,973 |
Telstra Group Ltd. | 574,997 | 1,394,299 |
Treasury Wine Estates Ltd. | 86,721 | 668,112 |
Vicinity Ltd., REIT | 858,944 | 930,349 |
Wesfarmers Ltd. | 39,295 | 1,264,271 |
INVESTMENTS | SHARES | VALUE($) |
Australia — continued | ||
Whitehaven Coal Ltd. | 269,501 | 1,269,427 |
WiseTech Global Ltd. | 18,679 | 695,443 |
Woodside Energy Group Ltd. | 56,068 | 1,221,150 |
Woolworths Group Ltd. | 60,649 | 1,357,614 |
Yancoal Australia Ltd. (a) | 97,401 | 299,092 |
38,750,638 | ||
Austria — 0.5% | ||
Mondi plc | 73,244 | 1,184,760 |
OMV AG | 15,152 | 664,539 |
1,849,299 | ||
Belgium — 0.2% | ||
Anheuser-Busch InBev SA | 4,254 | 242,044 |
D'ieteren Group | 764 | 113,485 |
Solvay SA | 4,088 | 432,166 |
787,695 | ||
Brazil — 0.3% | ||
Yara International ASA | 29,271 | 957,804 |
Burkina Faso — 0.1% | ||
Endeavour Mining plc | 20,700 | 427,085 |
Cambodia — 0.0% ^ | ||
NagaCorp Ltd. * | 72,945 | 31,334 |
Chile — 0.3% | ||
Antofagasta plc | 68,101 | 1,113,556 |
China — 1.2% | ||
Budweiser Brewing Co. APAC Ltd. (b) | 398,606 | 757,490 |
Chow Tai Fook Jewellery Group Ltd. | 122,157 | 172,501 |
Lenovo Group Ltd. | 1,322,000 | 1,538,454 |
SITC International Holdings Co. Ltd. | 108,917 | 167,776 |
Wilmar International Ltd. | 412,300 | 1,071,892 |
Xinyi Glass Holdings Ltd. | 420,000 | 482,588 |
4,190,701 | ||
Denmark — 0.7% | ||
Carlsberg A/S, Class B | 8,306 | 989,853 |
DSV A/S | 290 | 43,338 |
Novo Nordisk A/S, Class B | 16,058 | 1,549,215 |
2,582,406 | ||
Finland — 1.1% | ||
Elisa OYJ | 22,869 | 969,843 |
Kesko OYJ, Class B | 36,970 | 625,218 |
Orion OYJ, Class B | 12,411 | 493,778 |
154 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Finland — continued | ||
Stora Enso OYJ, Class R | 57,213 | 687,609 |
UPM-Kymmene OYJ | 27,724 | 933,631 |
3,710,079 | ||
France — 4.7% | ||
Air Liquide SA | 2,188 | 374,919 |
Arkema SA | 8,506 | 797,036 |
Capgemini SE | 7,167 | 1,266,615 |
Carrefour SA | 80,422 | 1,409,915 |
Covivio SA, REIT | 9,275 | 397,474 |
Danone SA | 20,263 | 1,205,455 |
Eiffage SA | 13,415 | 1,217,419 |
Engie SA | 48,849 | 776,938 |
EssilorLuxottica SA | 1,183 | 214,222 |
Gecina SA, REIT | 10,981 | 1,078,234 |
Klepierre SA, REIT | 54,057 | 1,312,708 |
Orange SA | 109,499 | 1,287,932 |
Pernod Ricard SA | 4,831 | 857,872 |
Publicis Groupe SA | 14,570 | 1,109,408 |
TotalEnergies SE | 22,842 | 1,527,159 |
Unibail-Rodamco-Westfield, REIT * | 4,485 | 222,228 |
Vinci SA | 11,009 | 1,217,314 |
Vivendi SE | 37,813 | 339,088 |
16,611,936 | ||
Germany — 2.5% | ||
Bayerische Motoren Werke AG | 10,994 | 1,022,490 |
Covestro AG * (b) | 6,860 | 347,543 |
Deutsche Telekom AG (Registered) | 71,411 | 1,549,880 |
E.ON SE | 23,864 | 283,937 |
Fresenius Medical Care AG & Co. KGaA | 16,950 | 563,183 |
Hannover Rueck SE | 1,687 | 372,512 |
Heidelberg Materials AG | 3,575 | 259,521 |
Hella GmbH & Co. KGaA | 3,077 | 234,328 |
Infineon Technologies AG | 4,631 | 135,273 |
LEG Immobilien SE * | 3,412 | 213,290 |
Mercedes-Benz Group AG | 18,524 | 1,089,846 |
Merck KGaA | 4,154 | 627,413 |
SAP SE | 9,845 | 1,320,533 |
Telefonica Deutschland Holding AG | 433,342 | 736,715 |
8,756,464 | ||
Hong Kong — 3.0% | ||
ASMPT Ltd. | 58,000 | 491,234 |
CK Asset Holdings Ltd. | 152,766 | 763,574 |
CK Infrastructure Holdings Ltd. | 238,000 | 1,103,140 |
INVESTMENTS | SHARES | VALUE($) |
Hong Kong — continued | ||
CLP Holdings Ltd. | 143,000 | 1,046,586 |
Hong Kong & China Gas Co. Ltd. | 658,393 | 458,313 |
Hutchison Port Holdings Trust | 1,417,600 | 222,669 |
MTR Corp. Ltd. | 63,500 | 237,375 |
New World Development Co. Ltd. | 61,750 | 113,331 |
Orient Overseas International Ltd. | 69,500 | 876,381 |
PCCW Ltd. | 1,544,000 | 755,691 |
Power Assets Holdings Ltd. | 257,500 | 1,231,063 |
Sun Hung Kai Properties Ltd. | 89,000 | 913,915 |
Swire Pacific Ltd., Class A | 119,500 | 763,347 |
WH Group Ltd. (b) | 1,849,743 | 1,104,728 |
Wharf Real Estate Investment Co. Ltd. | 50,000 | 174,902 |
Yue Yuen Industrial Holdings Ltd. | 172,000 | 201,100 |
10,457,349 | ||
Indonesia — 0.0% ^ | ||
First Pacific Co. Ltd. | 290,000 | 109,784 |
Ireland — 0.1% | ||
Smurfit Kappa Group plc | 11,974 | 390,304 |
Italy — 2.5% | ||
A2A SpA | 374,689 | 703,288 |
Assicurazioni Generali SpA | 25,345 | 503,444 |
Banca Mediolanum SpA | 32,764 | 267,536 |
Coca-Cola HBC AG | 52,488 | 1,362,677 |
Eni SpA | 70,393 | 1,150,761 |
Infrastrutture Wireless Italiane SpA (b) | 17,186 | 188,184 |
Italgas SpA | 172,528 | 876,754 |
Poste Italiane SpA (b) | 83,741 | 829,056 |
Recordati Industria Chimica e Farmaceutica SpA | 14,328 | 662,733 |
Terna - Rete Elettrica Nazionale | 118,892 | 910,361 |
UniCredit SpA | 53,835 | 1,349,623 |
8,804,417 | ||
Japan — 29.4% | ||
Activia Properties, Inc., REIT | 148 | 400,412 |
Advance Residence Investment Corp., REIT | 139 | 302,214 |
Advantest Corp. | 11,600 | 298,800 |
Aeon Mall Co. Ltd. | 19,700 | 224,015 |
AEON REIT Investment Corp., REIT | 395 | 376,037 |
Ajinomoto Co., Inc. | 35,500 | 1,296,555 |
Alfresa Holdings Corp. | 49,100 | 777,773 |
Anritsu Corp. | 60,900 | 453,349 |
Asahi Group Holdings Ltd. | 27,800 | 1,005,538 |
Astellas Pharma, Inc. | 95,800 | 1,211,858 |
Canon Marketing Japan, Inc. | 28,900 | 693,038 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 155 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Japan — continued | ||
Canon, Inc. | 58,300 | 1,378,253 |
Capcom Co. Ltd. | 35,800 | 1,152,378 |
Chubu Electric Power Co., Inc. | 111,400 | 1,346,175 |
Chugai Pharmaceutical Co. Ltd. | 43,400 | 1,287,095 |
COMSYS Holdings Corp. | 39,500 | 812,525 |
Cosmo Energy Holdings Co. Ltd. | 40,700 | 1,488,848 |
Dai Nippon Printing Co. Ltd. | 10,800 | 281,742 |
Daito Trust Construction Co. Ltd. | 13,200 | 1,415,916 |
Daiwa House REIT Investment Corp., REIT | 279 | 493,760 |
Daiwa Securities Group, Inc. | 175,800 | 1,013,746 |
DIC Corp. | 5,900 | 93,033 |
Dowa Holdings Co. Ltd. | 11,400 | 348,502 |
Electric Power Development Co. Ltd. | 89,600 | 1,373,629 |
ENEOS Holdings, Inc. | 179,100 | 663,640 |
Fuji Media Holdings, Inc. | 10,300 | 102,297 |
FUJIFILM Holdings Corp. | 20,600 | 1,126,775 |
Fukuoka Financial Group, Inc. | 10,800 | 285,484 |
Hachijuni Bank Ltd. (The) | 75,300 | 428,843 |
Hikari Tsushin, Inc. | 5,300 | 764,646 |
Hoya Corp. | 500 | 48,134 |
Hulic Co. Ltd. | 79,900 | 732,534 |
Idemitsu Kosan Co. Ltd. | 37,437 | 850,011 |
Iida Group Holdings Co. Ltd. | 10,800 | 167,694 |
Inpex Corp. | 103,900 | 1,507,680 |
Invincible Investment Corp., REIT | 650 | 249,990 |
ITOCHU Corp. | 39,000 | 1,404,820 |
Iwatani Corp. | 17,200 | 822,651 |
Japan Metropolitan Fund Invest, REIT | 1,155 | 745,376 |
Japan Post Holdings Co. Ltd. | 138,900 | 1,229,432 |
Japan Post Insurance Co. Ltd. | 63,600 | 1,224,687 |
Japan Real Estate Investment Corp., REIT | 3 | 11,143 |
Japan Tobacco, Inc. | 66,500 | 1,548,045 |
JFE Holdings, Inc. | 29,400 | 409,626 |
Kajima Corp. | 15,900 | 262,786 |
Kaneka Corp. | 1,600 | 39,155 |
Kansai Electric Power Co., Inc. (The) | 104,300 | 1,335,441 |
Kawasaki Kisen Kaisha Ltd. | 24,000 | 822,960 |
KDDI Corp. | 46,600 | 1,394,027 |
Kinden Corp. | 19,800 | 299,919 |
Kobe Steel Ltd. | 114,600 | 1,354,968 |
K's Holdings Corp. | 63,100 | 587,196 |
Kuraray Co. Ltd. | 39,200 | 448,494 |
Kyowa Kirin Co. Ltd. | 38,500 | 603,845 |
Kyushu Electric Power Co., Inc. * | 82,400 | 526,465 |
INVESTMENTS | SHARES | VALUE($) |
Japan — continued | ||
Lawson, Inc. | 24,600 | 1,185,085 |
Mani, Inc. | 18,000 | 244,861 |
Marubeni Corp. | 90,000 | 1,315,960 |
MatsukiyoCocokara & Co. | 68,700 | 1,205,121 |
Mebuki Financial Group, Inc. | 77,900 | 235,820 |
Medipal Holdings Corp. | 51,600 | 867,550 |
MEIJI Holdings Co. Ltd. | 43,100 | 1,060,865 |
Mitsubishi Chemical Group Corp. | 118,000 | 667,715 |
Mitsubishi Corp. | 21,500 | 1,002,235 |
Mitsubishi Gas Chemical Co., Inc. | 21,900 | 295,997 |
Mitsubishi HC Capital, Inc. | 190,400 | 1,255,160 |
Mitsubishi UFJ Financial Group, Inc. | 118,300 | 992,436 |
Mitsui & Co. Ltd. | 39,500 | 1,435,595 |
Mitsui Fudosan Co. Ltd. | 44,700 | 968,866 |
Mitsui Mining & Smelting Co. Ltd. | 28,800 | 747,839 |
Morinaga Milk Industry Co. Ltd. | 4,800 | 187,224 |
MS&AD Insurance Group Holdings, Inc. | 18,000 | 659,530 |
Nifco, Inc. | 4,300 | 100,844 |
Nintendo Co. Ltd. | 28,700 | 1,185,725 |
Nippon Shinyaku Co. Ltd. | 4,800 | 194,669 |
Nippon Shokubai Co. Ltd. | 5,900 | 219,138 |
Nippon Steel Corp. | 62,000 | 1,337,269 |
Nippon Telegraph & Telephone Corp. | 1,244,700 | 1,464,733 |
Nippon Yusen KK | 35,000 | 856,354 |
Nisshin Seifun Group, Inc. | 6,600 | 99,553 |
Nissin Foods Holdings Co. Ltd. | 11,500 | 1,000,600 |
Niterra Co. Ltd. | 53,900 | 1,206,433 |
Nitto Denko Corp. | 17,900 | 1,158,234 |
NOF Corp. | 7,000 | 276,157 |
Nomura Real Estate Holdings, Inc. | 59,600 | 1,392,022 |
Nomura Real Estate Master Fund, Inc., REIT | 569 | 627,868 |
Obayashi Corp. | 55,800 | 477,972 |
Ono Pharmaceutical Co. Ltd. | 53,700 | 927,372 |
Open House Group Co. Ltd. | 18,200 | 599,879 |
ORIX Corp. | 25,100 | 456,477 |
Osaka Gas Co. Ltd. | 65,900 | 1,242,728 |
Otsuka Holdings Co. Ltd. | 39,400 | 1,325,651 |
Resona Holdings, Inc. | 232,500 | 1,242,322 |
Rohto Pharmaceutical Co. Ltd. | 25,200 | 587,949 |
Sankyo Co. Ltd. | 17,900 | 743,886 |
Santen Pharmaceutical Co. Ltd. | 32,400 | 281,023 |
Sapporo Holdings Ltd. | 3,500 | 123,221 |
Sawai Group Holdings Co. Ltd. | 8,300 | 264,516 |
SCREEN Holdings Co. Ltd. | 28,400 | 1,320,377 |
156 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Japan — continued | ||
SCSK Corp. | 27,700 | 472,847 |
Seiko Epson Corp. | 35,800 | 497,018 |
Sekisui Chemical Co. Ltd. | 24,500 | 335,573 |
Sekisui House Ltd. | 41,000 | 802,893 |
Sekisui House REIT, Inc., REIT | 673 | 354,453 |
Shimamura Co. Ltd. | 3,900 | 384,890 |
Shionogi & Co. Ltd. | 23,700 | 1,103,582 |
Ship Healthcare Holdings, Inc. | 6,700 | 103,442 |
Skylark Holdings Co. Ltd. * | 32,200 | 475,072 |
SoftBank Corp. | 132,300 | 1,495,899 |
SoftBank Group Corp. | 26,300 | 1,077,092 |
Sojitz Corp. | 68,620 | 1,424,921 |
Sugi Holdings Co. Ltd. | 7,200 | 291,444 |
SUMCO Corp. | 26,600 | 343,729 |
Sumitomo Chemical Co. Ltd. | 147,300 | 374,402 |
Sumitomo Mitsui Financial Group, Inc. | 29,100 | 1,402,852 |
Suntory Beverage & Food Ltd. | 24,800 | 746,308 |
Suzuken Co. Ltd. | 6,400 | 196,031 |
Taisho Pharmaceutical Holdings Co. Ltd. | 4,300 | 170,272 |
Takeda Pharmaceutical Co. Ltd. | 48,200 | 1,308,377 |
Teijin Ltd. | 40,200 | 363,854 |
TIS, Inc. | 3,500 | 74,952 |
Toho Gas Co. Ltd. | 20,500 | 353,037 |
Tohoku Electric Power Co., Inc. | 168,600 | 1,052,756 |
Tokyo Electron Ltd. | 9,700 | 1,281,736 |
Tokyo Gas Co. Ltd. | 63,800 | 1,432,767 |
Tokyo Tatemono Co. Ltd. | 79,300 | 1,052,971 |
Tokyu Fudosan Holdings Corp. | 217,500 | 1,267,226 |
Tosoh Corp. | 22,200 | 271,822 |
Toyo Suisan Kaisha Ltd. | 21,300 | 982,589 |
Toyota Boshoku Corp. | 14,700 | 255,647 |
Trend Micro, Inc. | 10,800 | 406,994 |
Tsumura & Co. | 20,900 | 373,970 |
UBE Corp. | 39,500 | 608,253 |
United Urban Investment Corp., REIT | 464 | 467,790 |
USS Co. Ltd. | 48,900 | 854,718 |
Yakult Honsha Co. Ltd. | 22,800 | 537,281 |
Yamada Holdings Co. Ltd. | 79,400 | 251,108 |
Yamaguchi Financial Group, Inc. | 3,600 | 33,039 |
Yamaha Motor Co. Ltd. | 54,600 | 1,334,252 |
Yokohama Rubber Co. Ltd. (The) | 33,700 | 622,762 |
Zeon Corp. | 3,700 | 30,582 |
103,835,989 |
INVESTMENTS | SHARES | VALUE($) |
Jordan — 0.4% | ||
Hikma Pharmaceuticals plc | 54,474 | 1,262,138 |
Luxembourg — 0.1% | ||
RTL Group SA | 12,053 | 421,566 |
Mexico — 0.2% | ||
Fresnillo plc | 80,710 | 543,226 |
Netherlands — 3.3% | ||
ABN AMRO Bank NV, CVA (b) | 53,801 | 724,624 |
ASML Holding NV | 1,269 | 762,822 |
ASR Nederland NV | 27,359 | 1,020,996 |
BE Semiconductor Industries NV | 9,219 | 952,320 |
Heineken Holding NV | 13,026 | 991,063 |
Heineken NV | 4,594 | 412,741 |
Koninklijke Ahold Delhaize NV | 45,308 | 1,341,651 |
Koninklijke KPN NV | 433,185 | 1,456,012 |
NN Group NV | 24,963 | 800,623 |
OCI NV | 10,999 | 256,285 |
Shell plc | 40,228 | 1,296,422 |
Wolters Kluwer NV | 12,000 | 1,539,672 |
11,555,231 | ||
New Zealand — 0.5% | ||
Fisher & Paykel Healthcare Corp. Ltd. | 64,623 | 783,483 |
Spark New Zealand Ltd. | 343,295 | 996,627 |
1,780,110 | ||
Norway — 1.1% | ||
Aker BP ASA | 98 | 2,824 |
DNB Bank ASA | 18,385 | 331,700 |
Equinor ASA (a) | 36,477 | 1,222,826 |
Mowi ASA | 5,484 | 89,113 |
Norsk Hydro ASA | 164,458 | 937,856 |
Orkla ASA | 73,857 | 509,059 |
Telenor ASA | 60,770 | 621,215 |
3,714,593 | ||
Poland — 0.1% | ||
ORLEN SA | 31,742 | 501,966 |
Portugal — 0.3% | ||
Jeronimo Martins SGPS SA | 50,010 | 1,152,974 |
Russia — 0.0% ^ | ||
Evraz plc ‡ * | 393,430 | 19,577 |
Singapore — 3.5% | ||
CapitaLand Ascendas, REIT | 728,842 | 1,384,833 |
CapitaLand Integrated Commercial Trust, REIT | 957,808 | 1,230,995 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 157 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Singapore — continued | ||
City Developments Ltd. | 900 | 4,154 |
ComfortDelGro Corp. Ltd. | 220,800 | 213,263 |
DBS Group Holdings Ltd. | 58,100 | 1,395,756 |
Jardine Cycle & Carriage Ltd. | 20,800 | 428,476 |
Keppel, REIT | 46,780 | 27,163 |
Keppel Corp. Ltd. | 233,900 | 1,061,753 |
Mapletree Logistics Trust, REIT | 225,300 | 241,938 |
Mapletree Pan Asia Commercial Trust, REIT | 182,900 | 177,762 |
Oversea-Chinese Banking Corp. Ltd. | 125,800 | 1,166,306 |
Sembcorp Industries Ltd. | 377,300 | 1,265,806 |
Singapore Airlines Ltd. | 220,400 | 984,143 |
Singapore Telecommunications Ltd. | 371,600 | 645,720 |
STMicroelectronics NV | 12,985 | 494,990 |
Suntec, REIT | 1,072,100 | 861,550 |
Venture Corp. Ltd. | 100,700 | 859,810 |
12,444,418 | ||
South Africa — 0.3% | ||
Anglo American plc | 41,927 | 1,068,284 |
South Korea — 6.9% | ||
Daewoo Engineering & Construction Co. Ltd. * | 29,837 | 87,048 |
DB Insurance Co. Ltd. | 3,274 | 213,003 |
DL Holdings Co. Ltd. | 3,729 | 117,441 |
Doosan Bobcat, Inc. | 11,480 | 329,832 |
E-MART, Inc. | 2,475 | 133,435 |
F&F Co. Ltd. | 3,483 | 241,456 |
GS Engineering & Construction Corp. | 17,626 | 172,522 |
GS Holdings Corp. | 5,533 | 161,574 |
GS Retail Co. Ltd. | 20,642 | 371,854 |
Hana Financial Group, Inc. | 40,232 | 1,169,817 |
Hanmi Pharm Co. Ltd. | 1,351 | 282,476 |
Hanwha Aerospace Co. Ltd. | 11,681 | 878,189 |
Hanwha Corp. | 9,204 | 151,610 |
Hanwha Life Insurance Co. Ltd. * | 95,578 | 196,409 |
HD Hyundai Infracore Co. Ltd. | 52,119 | 258,604 |
Hite Jinro Co. Ltd. | 8,323 | 131,166 |
Hyundai Department Store Co. Ltd. | 1,860 | 73,664 |
Hyundai Mobis Co. Ltd. | 2,621 | 405,901 |
Industrial Bank of Korea | 94,284 | 780,292 |
KB Financial Group, Inc. | 35,687 | 1,360,327 |
Kia Corp. | 21,464 | 1,226,269 |
Korea Gas Corp. * | 18,198 | 308,396 |
Korea Investment Holdings Co. Ltd. | 2,763 | 103,291 |
Korean Air Lines Co. Ltd. | 24,270 | 369,272 |
KT&G Corp. | 23,120 | 1,458,485 |
INVESTMENTS | SHARES | VALUE($) |
South Korea — continued | ||
LG Corp. | 18,732 | 1,072,201 |
LG H&H Co. Ltd. | 1,512 | 354,480 |
LG Innotek Co. Ltd. | 5,102 | 846,792 |
LG Uplus Corp. | 65,895 | 493,864 |
Mirae Asset Securities Co. Ltd. | 5,795 | 28,388 |
NAVER Corp. | 918 | 128,339 |
NH Investment & Securities Co. Ltd. | 27,834 | 199,693 |
NongShim Co. Ltd. | 1,327 | 436,444 |
Orion Corp. | 9,344 | 826,992 |
POSCO Holdings, Inc. | 3,518 | 1,076,948 |
Posco International Corp. | 21,925 | 817,806 |
Samsung Electronics Co. Ltd. | 27,368 | 1,362,239 |
Samsung Engineering Co. Ltd. * | 22,797 | 401,789 |
Samsung Fire & Marine Insurance Co. Ltd. | 3,194 | 610,765 |
Samsung Securities Co. Ltd. | 16,484 | 431,821 |
Seegene, Inc. | 12,364 | 175,145 |
SK Hynix, Inc. | 16,429 | 1,426,729 |
S-Oil Corp. | 4,630 | 228,502 |
Woori Financial Group, Inc. | 150,134 | 1,326,097 |
Yuhan Corp. | 27,919 | 1,190,136 |
24,417,503 | ||
Spain — 2.4% | ||
Acciona SA | 3,844 | 484,627 |
Enagas SA | 38,456 | 643,319 |
Endesa SA | 64,897 | 1,221,015 |
Iberdrola SA | 125,632 | 1,397,281 |
Industria de Diseno Textil SA | 17,904 | 618,010 |
Merlin Properties Socimi SA, REIT | 52,380 | 436,733 |
Naturgy Energy Group SA | 49,424 | 1,398,436 |
Redeia Corp. SA | 40,343 | 629,146 |
Repsol SA | 49,099 | 718,915 |
Telefonica SA | 270,558 | 1,045,068 |
8,592,550 | ||
Sweden — 2.1% | ||
Boliden AB | 31,651 | 811,315 |
Castellum AB | 105,861 | 1,014,547 |
Fastighets AB Balder, Class B * | 26,244 | 111,506 |
Getinge AB, Class B | 18,313 | 329,691 |
H & M Hennes & Mauritz AB, Class B (a) | 35,732 | 480,048 |
Hexagon AB, Class B | 68,771 | 560,459 |
Investor AB, Class B | 17,572 | 322,571 |
Sagax AB, Class B | 18,916 | 342,435 |
Securitas AB, Class B | 101,049 | 809,444 |
158 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Sweden — continued | ||
Skanska AB, Class B | 20,378 | 305,954 |
SSAB AB, Class B | 73,800 | 428,154 |
Tele2 AB, Class B | 128,253 | 910,807 |
Telia Co. AB (a) | 70,206 | 148,833 |
Trelleborg AB, Class B | 31,874 | 806,064 |
7,381,828 | ||
Switzerland — 1.4% | ||
Kuehne + Nagel International AG (Registered) | 1,975 | 532,586 |
Novartis AG (Registered) | 14,937 | 1,398,395 |
PSP Swiss Property AG (Registered) | 1,965 | 241,772 |
Sandoz Group AG * | 2,987 | 77,659 |
Sonova Holding AG (Registered) | 1,814 | 429,942 |
Swiss Prime Site AG (Registered) | 8,787 | 816,734 |
Swisscom AG (Registered) | 2,334 | 1,398,507 |
4,895,595 | ||
United Kingdom — 15.9% | ||
3i Group plc | 60,026 | 1,415,268 |
abrdn plc | 295,884 | 564,872 |
Admiral Group plc | 36,798 | 1,093,370 |
Ashtead Group plc | 1,875 | 107,536 |
Associated British Foods plc | 53,523 | 1,320,309 |
AstraZeneca plc | 11,083 | 1,387,633 |
Auto Trader Group plc (b) | 81,870 | 619,286 |
Aviva plc | 206,436 | 999,887 |
B&M European Value Retail SA | 205,975 | 1,326,014 |
BAE Systems plc | 118,401 | 1,592,065 |
Barratt Developments plc | 110,728 | 558,423 |
BP plc | 172,121 | 1,050,974 |
British American Tobacco plc | 45,342 | 1,354,477 |
British Land Co. plc (The), REIT | 240,419 | 871,587 |
BT Group plc | 787,062 | 1,080,974 |
Bunzl plc | 31,960 | 1,140,212 |
Burberry Group plc | 40,255 | 829,658 |
Centrica plc | 772,048 | 1,477,931 |
CK Hutchison Holdings Ltd. | 73,756 | 373,374 |
Compass Group plc | 13,593 | 342,698 |
ConvaTec Group plc (b) | 468,156 | 1,161,939 |
Croda International plc | 16,010 | 853,272 |
Diageo plc | 13,681 | 517,361 |
DS Smith plc | 146,277 | 507,358 |
Hiscox Ltd. | 16,144 | 184,057 |
HSBC Holdings plc | 210,001 | 1,516,297 |
IMI plc | 49,762 | 888,702 |
INVESTMENTS | SHARES | VALUE($) |
United Kingdom — continued | ||
Imperial Brands plc | 66,305 | 1,412,574 |
Informa plc | 124,960 | 1,082,714 |
InterContinental Hotels Group plc | 19,300 | 1,367,647 |
International Consolidated Airlines Group SA * | 241,195 | 423,753 |
Intertek Group plc | 10,500 | 489,023 |
J Sainsbury plc | 395,694 | 1,238,056 |
Johnson Matthey plc | 27,319 | 496,638 |
Land Securities Group plc, REIT | 149,082 | 1,033,393 |
Legal & General Group plc | 443,578 | 1,142,882 |
M&G plc | 175,692 | 424,268 |
National Grid plc | 82,273 | 980,939 |
NatWest Group plc | 333,068 | 724,695 |
Next plc | 14,909 | 1,250,007 |
Pearson plc | 127,130 | 1,471,623 |
Phoenix Group Holdings plc | 50,855 | 280,918 |
Rentokil Initial plc | 59,780 | 304,429 |
Rightmove plc | 204,172 | 1,177,385 |
Rolls-Royce Holdings plc * | 179,913 | 473,572 |
Sage Group plc (The) | 123,265 | 1,456,231 |
Segro plc, REIT | 37,647 | 327,233 |
Severn Trent plc | 14,446 | 466,351 |
Smith & Nephew plc | 44,469 | 497,659 |
Smiths Group plc | 70,296 | 1,378,901 |
SSE plc | 65,340 | 1,298,539 |
Standard Chartered plc | 159,404 | 1,222,204 |
Tate & Lyle plc | 125,957 | 965,260 |
Taylor Wimpey plc | 388,722 | 525,025 |
Tesco plc | 448,809 | 1,472,795 |
Unilever plc | 29,350 | 1,390,036 |
UNITE Group plc (The), REIT | 50,280 | 532,090 |
United Utilities Group plc | 117,002 | 1,513,253 |
Vodafone Group plc | 1,216,359 | 1,119,707 |
Wise plc, Class A * | 27,415 | 222,822 |
WPP plc | 108,853 | 937,358 |
56,235,514 | ||
United States — 3.1% | ||
CRH plc | 26,233 | 1,407,843 |
CSL Ltd. | 7,355 | 1,087,011 |
Ferguson plc | 9,272 | 1,392,690 |
GSK plc | 86,398 | 1,540,198 |
Haleon plc | 371,131 | 1,487,527 |
Holcim AG | 22,686 | 1,402,625 |
Roche Holding AG | 4,251 | 1,095,524 |
Sanofi SA | 6,614 | 600,592 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 159 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
United States — continued | ||
Schneider Electric SE | 3,555 | 546,962 |
Sims Ltd. | 64,476 | 513,963 |
11,074,935 | ||
Total Common Stocks (Cost $390,344,021) | 350,428,848 | |
Short-Term Investments — 0.7% | ||
Investment Companies — 0.1% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 5.49% (c) (d)(Cost $424,031) | 423,893 | 424,062 |
Investment of Cash Collateral from Securities Loaned — 0.6% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.53% (c) (d) | 1,258,826 | 1,259,077 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (c) (d) | 865,085 | 865,085 |
Total Investment of Cash Collateral from Securities Loaned (Cost $2,124,162) | 2,124,162 | |
Total Short-Term Investments (Cost $2,548,193) | 2,548,224 | |
Total Investments — 99.9% (Cost $392,892,214) | 352,977,072 | |
Other Assets Less Liabilities — 0.1% | 198,307 | |
NET ASSETS — 100.0% | 353,175,379 |
Percentages indicated are based on net assets. |
Abbreviations | |
APAC | Asia Pacific |
CVA | Certificaten Van Aandelen (Dutch Certificate) |
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) | The security or a portion of this security is on loan at October 31, 2023. The total value of securities on loan at October 31, 2023 is $2,021,253. | |
(b) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. |
(c) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(d) | The rate shown is the current yield as of October 31, 2023. |
160 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Pharmaceuticals | 6.0 % |
Oil, Gas & Consumable Fuels | 5.5 |
Metals & Mining | 5.3 |
Banks | 5.1 |
Diversified Telecommunication Services | 4.6 |
Electric Utilities | 4.3 |
Consumer Staples Distribution & Retail | 4.0 |
Food Products | 3.6 |
Real Estate Management & Development | 3.6 |
Insurance | 3.2 |
Trading Companies & Distributors | 2.8 |
Chemicals | 2.8 |
Beverages | 2.5 |
Diversified REITs | 2.2 |
Gas Utilities | 2.1 |
Semiconductors & Semiconductor Equipment | 2.1 |
Multi-Utilities | 2.0 |
Wireless Telecommunication Services | 1.7 |
Technology Hardware, Storage & Peripherals | 1.7 |
Tobacco | 1.6 |
Health Care Equipment & Supplies | 1.6 |
Industrial Conglomerates | 1.5 |
Construction & Engineering | 1.5 |
Retail REITs | 1.4 |
Automobiles | 1.3 |
Software | 1.3 |
Broadline Retail | 1.3 |
Specialty Retail | 1.3 |
Health Care Providers & Services | 1.2 |
Construction Materials | 1.1 |
Media | 1.1 |
Personal Care Products | 1.1 |
Capital Markets | 1.1 |
Hotels, Restaurants & Leisure | 1.0 |
Electronic Equipment, Instruments & Components | 1.0 |
Others (each less than 1.0%) | 13.8 |
Short-Term Investments | 0.7 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 161 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
MSCI EAFE E-Mini Index | 21 | 12/15/2023 | USD | 2,072,700 | (95,561 ) |
Abbreviations | |
EAFE | Europe, Australasia and Far East |
MSCI | Morgan Stanley Capital International |
USD | United States Dollar |
162 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — 99.8% | ||
Aerospace & Defense — 0.8% | ||
General Dynamics Corp. | 7,367 | 1,777,731 |
Lockheed Martin Corp. | 3,815 | 1,734,451 |
3,512,182 | ||
Automobiles & Parts — 0.6% | ||
Ford Motor Co. | 89,412 | 871,767 |
Gentex Corp. | 49,943 | 1,432,365 |
2,304,132 | ||
Banks — 2.0% | ||
Bank of America Corp. | 35,408 | 932,647 |
Citizens Financial Group, Inc. | 7,800 | 182,754 |
Discover Financial Services | 7,370 | 604,930 |
Fifth Third Bancorp | 35,245 | 835,659 |
First Citizens BancShares, Inc., Class A | 1,021 | 1,409,735 |
Huntington Bancshares, Inc. | 93,730 | 904,494 |
KeyCorp | 15,817 | 161,650 |
New York Community Bancorp, Inc. | 139,615 | 1,323,550 |
Popular, Inc. (Puerto Rico) | 11,306 | 735,342 |
Regions Financial Corp. | 19,649 | 285,500 |
Truist Financial Corp. | 25,199 | 714,644 |
US Bancorp | 11,318 | 360,818 |
8,451,723 | ||
Beverages — 2.9% | ||
Boston Beer Co., Inc. (The), Class A * | 677 | 226,084 |
Brown-Forman Corp., Class B (a) | 10,808 | 606,977 |
Celsius Holdings, Inc. * | 9,292 | 1,413,221 |
Coca-Cola Co. (The) | 30,427 | 1,718,821 |
Constellation Brands, Inc., Class A | 6,954 | 1,628,279 |
Keurig Dr Pepper, Inc. | 50,278 | 1,524,932 |
Molson Coors Beverage Co., Class B | 28,684 | 1,657,075 |
Monster Beverage Corp. * | 31,912 | 1,630,703 |
PepsiCo, Inc. | 10,293 | 1,680,641 |
12,086,733 | ||
Chemicals — 3.9% | ||
Ashland, Inc. | 11,552 | 885,230 |
Celanese Corp. | 9,866 | 1,129,756 |
CF Industries Holdings, Inc. | 19,028 | 1,518,054 |
Chemours Co. (The) | 27,389 | 660,349 |
Dow, Inc. | 30,010 | 1,450,683 |
Eastman Chemical Co. | 14,670 | 1,096,289 |
Element Solutions, Inc. | 63,060 | 1,149,584 |
Huntsman Corp. | 57,661 | 1,345,231 |
Linde plc | 1,657 | 633,239 |
INVESTMENTS | SHARES | VALUE ($) |
Chemicals — continued | ||
LyondellBasell Industries NV, Class A | 17,872 | 1,612,769 |
Mosaic Co. (The) | 29,750 | 966,280 |
NewMarket Corp. | 950 | 458,042 |
Olin Corp. | 31,697 | 1,354,096 |
Valvoline, Inc. | 25,266 | 749,642 |
Westlake Corp. (a) | 13,599 | 1,568,781 |
16,578,025 | ||
Construction & Materials — 1.7% | ||
A O Smith Corp. | 21,280 | 1,484,493 |
Builders FirstSource, Inc. * | 10,468 | 1,135,987 |
Carrier Global Corp. | 6,716 | 320,085 |
Eagle Materials, Inc. | 3,675 | 565,619 |
Fortune Brands Innovations, Inc. | 7,207 | 402,151 |
Louisiana-Pacific Corp. | 14,198 | 728,073 |
Masco Corp. | 20,983 | 1,093,004 |
Quanta Services, Inc. | 8,498 | 1,420,186 |
7,149,598 | ||
Consumer Services — 0.7% | ||
Grand Canyon Education, Inc. * | 2,703 | 319,846 |
H&R Block, Inc. (a) | 42,674 | 1,751,767 |
Service Corp. International | 11,909 | 648,088 |
2,719,701 | ||
Electricity — 7.2% | ||
American Electric Power Co., Inc. | 21,060 | 1,590,872 |
Avangrid, Inc. (a) | 9,454 | 282,391 |
Clearway Energy, Inc., Class C | 9,828 | 213,366 |
Consolidated Edison, Inc. | 18,954 | 1,663,972 |
Constellation Energy Corp. | 15,480 | 1,748,001 |
DTE Energy Co. | 12,468 | 1,201,666 |
Edison International | 26,115 | 1,646,812 |
Entergy Corp. | 17,376 | 1,660,972 |
Evergy, Inc. | 30,189 | 1,483,487 |
Exelon Corp. | 44,286 | 1,724,497 |
FirstEnergy Corp. | 45,616 | 1,623,930 |
Hawaiian Electric Industries, Inc. (a) | 89,928 | 1,167,265 |
IDACORP, Inc. | 13,783 | 1,305,388 |
OGE Energy Corp. | 47,400 | 1,621,080 |
PG&E Corp. * | 102,657 | 1,673,309 |
Pinnacle West Capital Corp. | 22,008 | 1,632,553 |
PPL Corp. | 66,061 | 1,623,119 |
Public Service Enterprise Group, Inc. | 21,778 | 1,342,614 |
Southern Co. (The) | 24,883 | 1,674,626 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 163 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Electricity — continued | ||
Vistra Corp. | 57,690 | 1,887,617 |
Xcel Energy, Inc. | 27,963 | 1,657,367 |
30,424,904 | ||
Electronic & Electrical Equipment — 0.8% | ||
AMETEK, Inc. | 7,250 | 1,020,583 |
Emerson Electric Co. | 6,486 | 577,059 |
Hubbell, Inc. | 4,041 | 1,091,474 |
IDEX Corp. | 3,497 | 669,361 |
3,358,477 | ||
Finance & Credit Services — 0.5% | ||
Ally Financial, Inc. | 35,832 | 866,776 |
FactSet Research Systems, Inc. | 532 | 229,766 |
MGIC Investment Corp. | 36,552 | 615,536 |
OneMain Holdings, Inc. | 10,066 | 361,671 |
2,073,749 | ||
Food Producers — 6.2% | ||
Archer-Daniels-Midland Co. | 22,626 | 1,619,343 |
Bunge Ltd. | 15,690 | 1,662,826 |
Campbell Soup Co. | 38,715 | 1,564,473 |
Conagra Brands, Inc. | 51,836 | 1,418,233 |
Darling Ingredients, Inc. * | 20,347 | 901,169 |
Flowers Foods, Inc. | 67,624 | 1,482,994 |
General Mills, Inc. | 27,239 | 1,777,072 |
Hershey Co. (The) | 6,961 | 1,304,143 |
Hormel Foods Corp. (a) | 42,460 | 1,382,073 |
Ingredion, Inc. | 17,581 | 1,645,230 |
J M Smucker Co. (The) | 12,664 | 1,441,670 |
Kellogg Co. | 26,531 | 1,339,020 |
Kraft Heinz Co. (The) | 55,388 | 1,742,506 |
Lamb Weston Holdings, Inc. | 18,550 | 1,665,790 |
Mondelez International, Inc., Class A | 25,893 | 1,714,376 |
Pilgrim's Pride Corp. * | 12,745 | 324,997 |
Post Holdings, Inc. * | 20,306 | 1,630,166 |
US Foods Holding Corp. * | 38,398 | 1,495,218 |
WK Kellogg Co. * (a) | 6,632 | 66,453 |
26,177,752 | ||
Gas, Water & Multi-utilities — 3.0% | ||
Ameren Corp. | 19,532 | 1,478,768 |
American Water Works Co., Inc. | 7,367 | 866,727 |
Atmos Energy Corp. | 14,366 | 1,546,644 |
CenterPoint Energy, Inc. | 59,758 | 1,606,295 |
National Fuel Gas Co. | 27,212 | 1,386,451 |
INVESTMENTS | SHARES | VALUE ($) |
Gas, Water & Multi-utilities — continued | ||
NiSource, Inc. | 65,306 | 1,643,099 |
Sempra | 22,765 | 1,594,233 |
UGI Corp. | 46,732 | 972,026 |
WEC Energy Group, Inc. | 20,037 | 1,630,811 |
12,725,054 | ||
General Industrials — 2.0% | ||
Carlisle Cos., Inc. | 1,906 | 484,295 |
Eaton Corp. plc | 7,723 | 1,605,689 |
Honeywell International, Inc. | 4,475 | 820,088 |
Illinois Tool Works, Inc. | 6,567 | 1,471,796 |
ITT, Inc. | 7,948 | 741,946 |
Packaging Corp. of America | 6,786 | 1,038,597 |
Parker-Hannifin Corp. | 2,913 | 1,074,635 |
RPM International, Inc. | 11,522 | 1,051,613 |
Sonoco Products Co. | 1,018 | 52,743 |
8,341,402 | ||
Health Care Providers — 2.6% | ||
Chemed Corp. | 1,507 | 847,914 |
Cigna Group (The) | 5,668 | 1,752,546 |
DaVita, Inc. * | 12,597 | 972,866 |
Elevance Health, Inc. | 3,514 | 1,581,616 |
HCA Healthcare, Inc. | 6,364 | 1,439,155 |
Humana, Inc. | 711 | 372,344 |
Molina Healthcare, Inc. * | 2,249 | 748,805 |
UnitedHealth Group, Inc. | 3,649 | 1,954,258 |
Universal Health Services, Inc., Class B | 10,251 | 1,290,498 |
10,960,002 | ||
Household Goods & Home Construction — 2.0% | ||
DR Horton, Inc. | 11,470 | 1,197,468 |
Leggett & Platt, Inc. | 14,822 | 347,280 |
Lennar Corp., Class A | 14,956 | 1,595,506 |
NVR, Inc. * | 252 | 1,363,980 |
PulteGroup, Inc. | 21,838 | 1,607,058 |
Toll Brothers, Inc. | 21,526 | 1,522,104 |
Whirlpool Corp. (a) | 7,245 | 757,537 |
8,390,933 | ||
Industrial Engineering — 0.6% | ||
Caterpillar, Inc. | 3,676 | 830,960 |
Cummins, Inc. | 5,892 | 1,274,440 |
Otis Worldwide Corp. | 3,688 | 284,750 |
2,390,150 |
164 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Industrial Materials — 0.2% | ||
International Paper Co. | 30,645 | 1,033,656 |
Industrial Metals & Mining — 2.6% | ||
Cleveland-Cliffs, Inc. * | 65,087 | 1,092,160 |
Freeport-McMoRan, Inc. | 37,233 | 1,257,731 |
Nucor Corp. | 9,655 | 1,426,913 |
Reliance Steel & Aluminum Co. | 6,321 | 1,607,936 |
Southern Copper Corp. (Mexico) | 20,007 | 1,418,496 |
Steel Dynamics, Inc. | 13,155 | 1,401,139 |
Timken Co. (The) | 13,212 | 913,213 |
United States Steel Corp. (a) | 56,199 | 1,904,584 |
11,022,172 | ||
Industrial Support Services — 2.4% | ||
Accenture plc, Class A | 5,506 | 1,635,778 |
Booz Allen Hamilton Holding Corp. | 11,325 | 1,358,207 |
Capital One Financial Corp. | 12,991 | 1,315,858 |
MSC Industrial Direct Co., Inc., Class A | 10,311 | 976,967 |
Robert Half, Inc. | 14,986 | 1,120,503 |
Synchrony Financial | 42,012 | 1,178,437 |
Western Union Co. (The) | 56,725 | 640,425 |
WW Grainger, Inc. | 2,491 | 1,818,007 |
10,044,182 | ||
Industrial Transportation — 1.4% | ||
Allison Transmission Holdings, Inc. | 18,137 | 914,468 |
CSX Corp. | 19,789 | 590,702 |
Landstar System, Inc. | 1,257 | 207,128 |
Norfolk Southern Corp. | 3,692 | 704,397 |
PACCAR, Inc. | 2,691 | 222,088 |
Ryder System, Inc. | 5,367 | 523,497 |
Schneider National, Inc., Class B | 7,924 | 200,715 |
Union Pacific Corp. | 6,235 | 1,294,448 |
United Parcel Service, Inc., Class B | 9,433 | 1,332,411 |
5,989,854 | ||
Investment Banking & Brokerage Services — 1.2% | ||
Ameriprise Financial, Inc. | 2,746 | 863,809 |
Jefferies Financial Group, Inc. | 21,428 | 689,553 |
Morgan Stanley | 17,947 | 1,271,007 |
Raymond James Financial, Inc. | 6,040 | 576,458 |
State Street Corp. | 18,904 | 1,221,765 |
Virtu Financial, Inc., Class A | 22,414 | 414,435 |
5,037,027 | ||
Leisure Goods — 0.5% | ||
Electronic Arts, Inc. | 6,283 | 777,773 |
INVESTMENTS | SHARES | VALUE ($) |
Leisure Goods — continued | ||
Garmin Ltd. | 11,473 | 1,176,327 |
Harley-Davidson, Inc. | 4,870 | 130,759 |
2,084,859 | ||
Life Insurance — 1.4% | ||
Aflac, Inc. | 19,316 | 1,508,773 |
Globe Life, Inc. | 4,545 | 528,856 |
MetLife, Inc. | 7,103 | 426,251 |
Principal Financial Group, Inc. | 16,489 | 1,115,976 |
Prudential Financial, Inc. | 3,803 | 347,746 |
Unum Group | 35,451 | 1,733,554 |
5,661,156 | ||
Media — 0.7% | ||
Interpublic Group of Cos., Inc. (The) | 44,688 | 1,269,139 |
Nexstar Media Group, Inc. | 10,672 | 1,494,934 |
2,764,073 | ||
Medical Equipment & Services — 3.5% | ||
Abbott Laboratories | 15,844 | 1,498,050 |
Becton Dickinson & Co. | 4,657 | 1,177,196 |
Danaher Corp. | 6,526 | 1,253,123 |
Hologic, Inc. * | 19,984 | 1,322,341 |
Laboratory Corp. of America Holdings | 6,676 | 1,333,398 |
Medtronic plc | 15,221 | 1,073,994 |
Quest Diagnostics, Inc. | 11,918 | 1,550,532 |
QuidelOrtho Corp. * | 737 | 45,016 |
Revvity, Inc. | 10,339 | 856,586 |
STERIS plc | 6,239 | 1,310,065 |
Stryker Corp. | 4,329 | 1,169,782 |
Thermo Fisher Scientific, Inc. | 1,645 | 731,647 |
Veralto Corp. * | 2,127 | 146,763 |
West Pharmaceutical Services, Inc. | 4,358 | 1,387,108 |
14,855,601 | ||
Mortgage Real Estate Investment Trusts — 0.4% | ||
Rithm Capital Corp. | 103,890 | 969,293 |
Starwood Property Trust, Inc. (a) | 50,693 | 899,801 |
1,869,094 | ||
Non-life Insurance — 3.1% | ||
American Financial Group, Inc. | 5,298 | 579,389 |
Aon plc, Class A | 5,398 | 1,670,141 |
Arch Capital Group Ltd. * | 13,701 | 1,187,603 |
Chubb Ltd. | 5,175 | 1,110,659 |
Fidelity National Financial, Inc. | 29,650 | 1,159,018 |
Hanover Insurance Group, Inc. (The) | 1,105 | 129,517 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 165 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Non-life Insurance — continued | ||
Hartford Financial Services Group, Inc. (The) | 22,898 | 1,681,858 |
Marsh & McLennan Cos., Inc. | 8,769 | 1,663,041 |
Old Republic International Corp. | 37,436 | 1,024,998 |
Progressive Corp. (The) | 12,482 | 1,973,279 |
Reinsurance Group of America, Inc. | 3,824 | 571,573 |
WR Berkley Corp. | 6,899 | 465,131 |
13,216,207 | ||
Non-Renewable Energy — 6.1% | ||
Antero Midstream Corp. | 137,726 | 1,699,539 |
Cheniere Energy, Inc. | 8,706 | 1,448,853 |
Chesapeake Energy Corp. (a) | 4,270 | 367,562 |
Chevron Corp. | 11,162 | 1,626,638 |
ConocoPhillips | 12,388 | 1,471,694 |
Coterra Energy, Inc. | 64,425 | 1,771,687 |
DT Midstream, Inc. | 1,346 | 72,644 |
EOG Resources, Inc. | 11,650 | 1,470,812 |
EQT Corp. | 41,485 | 1,758,134 |
Exxon Mobil Corp. | 15,684 | 1,660,151 |
HF Sinclair Corp. | 27,713 | 1,534,746 |
Marathon Oil Corp. | 54,564 | 1,490,143 |
Marathon Petroleum Corp. | 12,563 | 1,900,154 |
Occidental Petroleum Corp. | 9,455 | 584,414 |
Phillips 66 | 12,966 | 1,479,032 |
Pioneer Natural Resources Co. | 6,594 | 1,575,966 |
Targa Resources Corp. | 20,958 | 1,752,298 |
Texas Pacific Land Corp. | 285 | 526,096 |
Valero Energy Corp. | 12,125 | 1,539,875 |
Williams Cos., Inc. (The) | 2,368 | 81,459 |
25,811,897 | ||
Personal Care, Drug & Grocery Stores — 5.1% | ||
Albertsons Cos., Inc., Class A | 81,670 | 1,772,239 |
Casey's General Stores, Inc. | 7,529 | 2,047,210 |
Cencora, Inc. (a) | 10,475 | 1,939,446 |
Church & Dwight Co., Inc. | 18,364 | 1,670,022 |
Clorox Co. (The) | 11,625 | 1,368,263 |
Colgate-Palmolive Co. | 23,393 | 1,757,282 |
CVS Health Corp. | 18,382 | 1,268,542 |
GCI Liberty Inc. ‡ * | 15,887 | — |
Kenvue, Inc. | 67,112 | 1,248,283 |
Kimberly-Clark Corp. | 14,158 | 1,693,863 |
Kroger Co. (The) | 39,247 | 1,780,636 |
McKesson Corp. | 4,442 | 2,022,709 |
Olaplex Holdings, Inc. * | 41,153 | 58,437 |
INVESTMENTS | SHARES | VALUE ($) |
Personal Care, Drug & Grocery Stores — continued | ||
Performance Food Group Co. * | 8,326 | 480,910 |
Procter & Gamble Co. (The) | 11,680 | 1,752,351 |
Spectrum Brands Holdings, Inc. | 7,328 | 551,945 |
21,412,138 | ||
Personal Goods — 0.2% | ||
Carter's, Inc. (a) | 2,388 | 160,378 |
NIKE, Inc., Class B | 4,448 | 457,121 |
617,499 | ||
Pharmaceuticals, Biotechnology & Marijuana Producers — 4.8% | ||
AbbVie, Inc. | 11,979 | 1,691,195 |
Amgen, Inc. | 6,766 | 1,730,066 |
Bristol-Myers Squibb Co. | 23,939 | 1,233,577 |
Cardinal Health, Inc. | 20,332 | 1,850,212 |
Eli Lilly & Co. | 3,288 | 1,821,322 |
Fortrea Holdings, Inc. * (a) | 6,529 | 185,424 |
Gilead Sciences, Inc. | 21,877 | 1,718,220 |
Merck & Co., Inc. | 15,860 | 1,628,822 |
Pfizer, Inc. | 37,622 | 1,149,728 |
Regeneron Pharmaceuticals, Inc. * | 2,205 | 1,719,657 |
United Therapeutics Corp. * | 6,222 | 1,386,635 |
Vertex Pharmaceuticals, Inc. * | 5,221 | 1,890,576 |
Viatris, Inc. | 96,517 | 859,001 |
Zoetis, Inc. | 8,749 | 1,373,593 |
20,238,028 | ||
Precious Metals & Mining — 0.2% | ||
Newmont Corp. | 24,188 | 906,324 |
Real Estate Investment & Services — 1.2% | ||
CBRE Group, Inc., Class A * | 17,835 | 1,236,679 |
CoStar Group, Inc. * | 21,854 | 1,604,302 |
Jones Lang LaSalle, Inc. * | 7,955 | 1,017,604 |
Zillow Group, Inc., Class C * | 28,480 | 1,032,400 |
4,890,985 | ||
Real Estate Investment Trusts — 8.0% | ||
Brixmor Property Group, Inc. | 68,937 | 1,433,200 |
Camden Property Trust | 8,705 | 738,880 |
Crown Castle, Inc. | 8,888 | 826,406 |
CubeSmart | 43,494 | 1,482,710 |
EastGroup Properties, Inc. | 2,034 | 332,051 |
EPR Properties | 5,109 | 218,154 |
Equinix, Inc. | 2,075 | 1,514,003 |
First Industrial Realty Trust, Inc. | 16,952 | 717,070 |
Gaming and Leisure Properties, Inc. | 38,054 | 1,727,271 |
166 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Real Estate Investment Trusts — continued | ||
Host Hotels & Resorts, Inc. | 115,902 | 1,794,163 |
Iron Mountain, Inc. | 28,369 | 1,675,757 |
Kimco Realty Corp. | 64,985 | 1,165,831 |
Lamar Advertising Co., Class A | 17,196 | 1,414,715 |
Mid-America Apartment Communities, Inc. | 8,010 | 946,382 |
NNN REIT, Inc. | 23,949 | 870,067 |
Omega Healthcare Investors, Inc. (a) | 55,549 | 1,838,672 |
Prologis, Inc. | 14,680 | 1,479,010 |
Public Storage | 6,119 | 1,460,667 |
Regency Centers Corp. | 20,564 | 1,239,187 |
Simon Property Group, Inc. | 15,705 | 1,725,822 |
Spirit Realty Capital, Inc. | 31,202 | 1,122,960 |
STAG Industrial, Inc. | 24,101 | 800,635 |
Ventas, Inc. | 23,479 | 996,918 |
VICI Properties, Inc. | 58,231 | 1,624,645 |
Welltower, Inc. | 17,844 | 1,491,937 |
Weyerhaeuser Co. | 55,102 | 1,580,876 |
WP Carey, Inc. | 22,020 | 1,181,373 |
33,399,362 | ||
Retailers — 3.9% | ||
AutoZone, Inc. * (a) | 698 | 1,729,037 |
Best Buy Co., Inc. | 14,486 | 967,954 |
Dick's Sporting Goods, Inc. (a) | 13,024 | 1,392,917 |
Kohl's Corp. (a) | 2,316 | 52,226 |
Lowe's Cos., Inc. | 7,762 | 1,479,204 |
Macy's, Inc. (a) | 66,534 | 810,384 |
O'Reilly Automotive, Inc. * | 1,905 | 1,772,488 |
Penske Automotive Group, Inc. (a) | 10,640 | 1,522,371 |
Ross Stores, Inc. | 9,848 | 1,142,073 |
Target Corp. | 8,054 | 892,303 |
TJX Cos., Inc. (The) | 16,857 | 1,484,596 |
Tractor Supply Co. (a) | 7,777 | 1,497,539 |
Williams-Sonoma, Inc. | 9,672 | 1,453,121 |
16,196,213 | ||
Software & Computer Services — 3.8% | ||
Alphabet, Inc., Class A * | 3,306 | 410,208 |
Amdocs Ltd. (a) | 14,956 | 1,198,873 |
CACI International, Inc., Class A * | 1,514 | 491,687 |
Cadence Design Systems, Inc. * | 7,410 | 1,777,288 |
Cognizant Technology Solutions Corp., Class A | 25,157 | 1,621,872 |
Dolby Laboratories, Inc., Class A | 4,319 | 349,580 |
Gartner, Inc. * | 3,477 | 1,154,503 |
Hewlett Packard Enterprise Co. | 90,249 | 1,388,030 |
INVESTMENTS | SHARES | VALUE ($) |
Software & Computer Services — continued | ||
Intuit, Inc. | 3,164 | 1,566,022 |
Meta Platforms, Inc., Class A * | 6,183 | 1,862,752 |
Microsoft Corp. | 5,581 | 1,886,992 |
Oracle Corp. | 14,923 | 1,543,038 |
Science Applications International Corp. | 3,161 | 345,308 |
SS&C Technologies Holdings, Inc. | 3,095 | 155,524 |
15,751,677 | ||
Technology Hardware & Equipment — 3.8% | ||
Amphenol Corp., Class A | 18,125 | 1,459,969 |
Analog Devices, Inc. | 9,731 | 1,530,978 |
Apple, Inc. | 9,524 | 1,626,413 |
Applied Materials, Inc. | 11,718 | 1,550,877 |
Broadcom, Inc. | 2,069 | 1,740,795 |
KLA Corp. | 3,560 | 1,672,132 |
Lam Research Corp. | 2,571 | 1,512,314 |
NetApp, Inc. | 17,256 | 1,255,892 |
NVIDIA Corp. | 3,720 | 1,517,016 |
Skyworks Solutions, Inc. | 9,778 | 848,144 |
TD SYNNEX Corp. | 4,905 | 449,690 |
Texas Instruments, Inc. | 4,924 | 699,257 |
15,863,477 | ||
Telecommunications Equipment — 2.0% | ||
Arista Networks, Inc. * | 9,296 | 1,862,639 |
Ciena Corp. * | 24,329 | 1,026,684 |
Cisco Systems, Inc. | 31,198 | 1,626,352 |
Juniper Networks, Inc. | 61,567 | 1,657,384 |
Motorola Solutions, Inc. | 6,371 | 1,774,069 |
Ubiquiti, Inc. (a) | 3,848 | 467,339 |
8,414,467 | ||
Telecommunications Service Providers — 3.5% | ||
AT&T, Inc. | 100,069 | 1,541,063 |
Cable One, Inc. | 2,075 | 1,140,980 |
Charter Communications, Inc., Class A * | 4,340 | 1,748,152 |
Comcast Corp., Class A | 39,462 | 1,629,386 |
DISH Network Corp., Class A * (a) | 203,545 | 997,370 |
Frontier Communications Parent, Inc. * | 73,875 | 1,323,840 |
Iridium Communications, Inc. | 12,064 | 446,971 |
Liberty Broadband Corp., Class C * | 13,764 | 1,146,679 |
Roku, Inc. * (a) | 16,562 | 986,598 |
T-Mobile US, Inc. * | 13,352 | 1,920,819 |
Verizon Communications, Inc. | 51,766 | 1,818,540 |
14,700,398 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 167 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Tobacco — 0.8% | ||
Altria Group, Inc. | 40,911 | 1,643,395 |
Philip Morris International, Inc. | 18,861 | 1,681,647 |
3,325,042 | ||
Travel & Leisure — 0.3% | ||
Darden Restaurants, Inc. | 8,278 | 1,204,698 |
Travel + Leisure Co. | 7,174 | 244,131 |
1,448,829 | ||
Waste & Disposal Services — 1.2% | ||
Clean Harbors, Inc. * | 10,408 | 1,599,397 |
Republic Services, Inc. | 12,146 | 1,803,560 |
Waste Management, Inc. | 10,918 | 1,794,155 |
5,197,112 | ||
Total Common Stocks (Cost $413,779,874) | 419,395,846 | |
Short-Term Investments — 5.0% | ||
Investment Companies — 0.1% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (b) (c)(Cost $306,480) | 306,480 | 306,480 |
Investment of Cash Collateral from Securities Loaned — 4.9% | ||
JPMorgan Securities Lending Money Market Fund Class Agency SL Shares, 5.53% (b) (c) | 16,996,201 | 16,999,600 |
INVESTMENTS | SHARES | VALUE ($) |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (b) (c) | 3,440,270 | 3,440,270 |
Total Investment of Cash Collateral from Securities Loaned (Cost $20,440,070) | 20,439,870 | |
Total Short-Term Investments (Cost $20,746,550) | 20,746,350 | |
Total Investments — 104.8% (Cost $434,526,424) | 440,142,196 | |
Liabilities in Excess of Other Assets — (4.8)% | (19,976,155 ) | |
NET ASSETS — 100.0% | 420,166,041 |
Percentages indicated are based on 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 October 31, 2023. The total value of securities on loan at October 31, 2023 is $20,157,750. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of October 31, 2023. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 2 | 12/15/2023 | USD | 421,175 | 508 |
Abbreviations | |
USD | United States Dollar |
168 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — 99.8% | ||
Aerospace & Defense — 0.1% | ||
Textron, Inc. | 5,927 | 450,452 |
Automobiles & Parts — 0.6% | ||
BorgWarner, Inc. | 14,335 | 528,962 |
Gentex Corp. | 40,461 | 1,160,421 |
LKQ Corp. | 4,330 | 190,174 |
Phinia, Inc. | 3,155 | 81,651 |
1,961,208 | ||
Banks — 2.2% | ||
Citizens Financial Group, Inc. | 9,129 | 213,892 |
Comerica, Inc. | 3,952 | 155,709 |
Discover Financial Services | 7,335 | 602,057 |
Fifth Third Bancorp | 15,510 | 367,742 |
First Citizens BancShares, Inc., Class A | 781 | 1,078,358 |
First Horizon Corp. | 15,267 | 164,120 |
FNB Corp. | 16,342 | 174,696 |
Huntington Bancshares, Inc. | 84,819 | 818,503 |
KeyCorp | 18,484 | 188,906 |
M&T Bank Corp. (a) | 5,534 | 623,959 |
New York Community Bancorp, Inc. | 91,873 | 870,956 |
Popular, Inc. (Puerto Rico) | 11,922 | 775,407 |
Prosperity Bancshares, Inc. | 3,032 | 165,365 |
Regions Financial Corp. | 25,016 | 363,483 |
Zions Bancorp NA | 5,975 | 184,329 |
6,747,482 | ||
Beverages — 1.1% | ||
Brown-Forman Corp., Class B (a) | 18,821 | 1,056,987 |
Celsius Holdings, Inc. * | 7,088 | 1,078,014 |
Molson Coors Beverage Co., Class B | 21,823 | 1,260,715 |
3,395,716 | ||
Chemicals — 4.3% | ||
Albemarle Corp. | 2,527 | 320,373 |
Ashland, Inc. | 7,965 | 610,358 |
Celanese Corp. | 8,124 | 930,279 |
CF Industries Holdings, Inc. | 17,325 | 1,382,189 |
Chemours Co. (The) | 31,476 | 758,886 |
Eastman Chemical Co. | 12,465 | 931,510 |
Element Solutions, Inc. | 65,842 | 1,200,300 |
Huntsman Corp. | 44,994 | 1,049,710 |
LyondellBasell Industries NV, Class A | 13,617 | 1,228,798 |
Mosaic Co. (The) | 28,047 | 910,967 |
NewMarket Corp. | 1,233 | 594,491 |
Olin Corp. | 26,427 | 1,128,961 |
INVESTMENTS | SHARES | VALUE ($) |
Chemicals — continued | ||
Valvoline, Inc. | 35,836 | 1,063,254 |
Westlake Corp. (a) | 10,362 | 1,195,360 |
13,305,436 | ||
Construction & Materials — 2.2% | ||
A O Smith Corp. | 15,397 | 1,074,095 |
Builders FirstSource, Inc. * | 9,266 | 1,005,546 |
Eagle Materials, Inc. | 2,654 | 408,477 |
Fortune Brands Innovations, Inc. | 8,774 | 489,589 |
Louisiana-Pacific Corp. | 14,788 | 758,329 |
Masco Corp. | 16,488 | 858,860 |
Owens Corning | 9,378 | 1,063,184 |
Quanta Services, Inc. | 6,490 | 1,084,609 |
6,742,689 | ||
Consumer Services — 0.6% | ||
H&R Block, Inc. | 23,880 | 980,274 |
Service Corp. International | 15,846 | 862,339 |
1,842,613 | ||
Electricity — 7.7% | ||
Alliant Energy Corp. | 19,481 | 950,478 |
Avangrid, Inc. (a) | 13,480 | 402,648 |
Brookfield Renewable Corp. | 15,176 | 345,406 |
Clearway Energy, Inc., Class C (a) | 12,164 | 264,081 |
CMS Energy Corp. | 12,098 | 657,405 |
Consolidated Edison, Inc. | 15,552 | 1,365,310 |
Constellation Energy Corp. | 12,134 | 1,370,171 |
DTE Energy Co. | 10,935 | 1,053,915 |
Edison International | 20,099 | 1,267,443 |
Entergy Corp. | 14,560 | 1,391,791 |
Evergy, Inc. | 25,645 | 1,260,195 |
FirstEnergy Corp. (a) | 35,095 | 1,249,382 |
Hawaiian Electric Industries, Inc. (a) | 91,443 | 1,186,930 |
IDACORP, Inc. | 12,627 | 1,195,903 |
NRG Energy, Inc. | 12,733 | 539,625 |
OGE Energy Corp. | 40,666 | 1,390,777 |
PG&E Corp. * | 83,475 | 1,360,643 |
Pinnacle West Capital Corp. | 18,085 | 1,341,545 |
PPL Corp. | 55,503 | 1,363,709 |
Public Service Enterprise Group, Inc. | 22,642 | 1,395,879 |
Vistra Corp. | 43,207 | 1,413,733 |
Xcel Energy, Inc. | 20,242 | 1,199,743 |
23,966,712 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 169 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Electronic & Electrical Equipment — 1.7% | ||
AMETEK, Inc. | 8,559 | 1,204,850 |
Crane Co. | 1,076 | 104,727 |
Crane NXT Co. | 3,502 | 182,104 |
Hubbell, Inc. | 4,189 | 1,131,449 |
IDEX Corp. | 5,895 | 1,128,362 |
Keysight Technologies, Inc. * | 8,239 | 1,005,570 |
nVent Electric plc | 9,373 | 451,123 |
5,208,185 | ||
Finance & Credit Services — 0.5% | ||
Ally Financial, Inc. | 12,831 | 310,382 |
MGIC Investment Corp. | 39,508 | 665,314 |
OneMain Holdings, Inc. | 19,318 | 694,096 |
1,669,792 | ||
Food Producers — 4.9% | ||
Bunge Ltd. | 11,953 | 1,266,779 |
Campbell Soup Co. | 33,587 | 1,357,251 |
Conagra Brands, Inc. | 46,869 | 1,282,336 |
Darling Ingredients, Inc. * | 18,657 | 826,319 |
Flowers Foods, Inc. | 52,924 | 1,160,623 |
Hormel Foods Corp. (a) | 32,994 | 1,073,955 |
Ingredion, Inc. | 13,382 | 1,252,288 |
J M Smucker Co. (The) | 9,657 | 1,099,353 |
Kellogg Co. | 22,956 | 1,158,589 |
Lamb Weston Holdings, Inc. | 14,119 | 1,267,886 |
Pilgrim's Pride Corp. * | 31,575 | 805,162 |
Post Holdings, Inc. * | 15,471 | 1,242,012 |
US Foods Holding Corp. * | 33,772 | 1,315,082 |
WK Kellogg Co. * | 5,673 | 56,843 |
15,164,478 | ||
Gas, Water & Multi-utilities — 3.0% | ||
Ameren Corp. | 17,517 | 1,326,212 |
American Water Works Co., Inc. | 7,397 | 870,257 |
Atmos Energy Corp. | 11,881 | 1,279,109 |
CenterPoint Energy, Inc. | 48,809 | 1,311,986 |
National Fuel Gas Co. | 23,972 | 1,221,373 |
NiSource, Inc. | 51,668 | 1,299,967 |
UGI Corp. | 40,338 | 839,030 |
WEC Energy Group, Inc. | 15,143 | 1,232,489 |
9,380,423 | ||
General Industrials — 1.8% | ||
AptarGroup, Inc. | 237 | 28,978 |
Carlisle Cos., Inc. | 1,268 | 322,186 |
INVESTMENTS | SHARES | VALUE ($) |
General Industrials — continued | ||
ITT, Inc. | 4,186 | 390,763 |
Packaging Corp. of America | 7,138 | 1,092,471 |
Parker-Hannifin Corp. | 3,254 | 1,200,433 |
RPM International, Inc. | 13,331 | 1,216,720 |
Silgan Holdings, Inc. | 12,400 | 496,744 |
Sonoco Products Co. | 10,463 | 542,088 |
WestRock Co. | 5,932 | 213,137 |
5,503,520 | ||
Health Care Providers — 3.4% | ||
Acadia Healthcare Co., Inc. * | 16,686 | 1,226,588 |
Chemed Corp. | 2,510 | 1,412,252 |
DaVita, Inc. * | 11,119 | 858,720 |
Encompass Health Corp. | 19,364 | 1,211,412 |
IQVIA Holdings, Inc. * | 5,598 | 1,012,286 |
Molina Healthcare, Inc. * | 4,058 | 1,351,111 |
Premier, Inc., Class A | 24,960 | 479,731 |
Tenet Healthcare Corp. * | 16,084 | 863,711 |
Universal Health Services, Inc., Class B | 8,311 | 1,046,272 |
Veeva Systems, Inc., Class A * | 5,413 | 1,043,139 |
10,505,222 | ||
Household Goods & Home Construction — 2.0% | ||
DR Horton, Inc. | 8,827 | 921,539 |
Leggett & Platt, Inc. | 13,061 | 306,019 |
Lennar Corp., Class A | 11,398 | 1,215,939 |
NVR, Inc. * | 171 | 925,558 |
PulteGroup, Inc. | 13,939 | 1,025,771 |
Toll Brothers, Inc. | 16,414 | 1,160,634 |
Whirlpool Corp. (a) | 5,717 | 597,769 |
6,153,229 | ||
Industrial Engineering — 1.8% | ||
Cummins, Inc. | 4,915 | 1,063,114 |
Graco, Inc. | 16,166 | 1,201,942 |
Lincoln Electric Holdings, Inc. | 5,114 | 893,927 |
Nordson Corp. | 939 | 199,622 |
Snap-on, Inc. | 4,991 | 1,287,379 |
Toro Co. (The) | 10,788 | 872,102 |
5,518,086 | ||
Industrial Materials — 0.8% | ||
Avery Dennison Corp. | 2,258 | 393,050 |
Hexcel Corp. | 13,897 | 860,502 |
International Paper Co. | 35,182 | 1,186,689 |
2,440,241 |
170 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Industrial Metals & Mining — 2.8% | ||
Cleveland-Cliffs, Inc. * | 54,053 | 907,009 |
Fastenal Co. | 23,983 | 1,399,168 |
Nucor Corp. | 7,963 | 1,176,852 |
Reliance Steel & Aluminum Co. | 4,824 | 1,227,129 |
Steel Dynamics, Inc. | 12,796 | 1,362,902 |
Timken Co. (The) | 17,518 | 1,210,844 |
United States Steel Corp. (a) | 44,231 | 1,498,989 |
8,782,893 | ||
Industrial Support Services — 1.6% | ||
ADT, Inc. | 15,320 | 86,711 |
Booz Allen Hamilton Holding Corp. | 3,716 | 445,660 |
MSC Industrial Direct Co., Inc., Class A | 9,558 | 905,620 |
Paychex, Inc. | 7,650 | 849,533 |
Robert Half, Inc. | 3,794 | 283,677 |
Synchrony Financial | 27,474 | 770,646 |
Western Union Co. (The) | 12,572 | 141,938 |
WW Grainger, Inc. | 1,907 | 1,391,786 |
4,875,571 | ||
Industrial Transportation — 1.7% | ||
Allison Transmission Holdings, Inc. | 19,936 | 1,005,173 |
Expeditors International of Washington, Inc. | 7,644 | 835,107 |
Landstar System, Inc. | 6,634 | 1,093,151 |
Old Dominion Freight Line, Inc. | 3,156 | 1,188,739 |
PACCAR, Inc. | 5,276 | 435,428 |
Ryder System, Inc. | 6,164 | 601,237 |
Schneider National, Inc., Class B | 8,506 | 215,457 |
5,374,292 | ||
Investment Banking & Brokerage Services — 1.9% | ||
Ameriprise Financial, Inc. | 3,527 | 1,109,488 |
Invesco Ltd. | 53,370 | 692,209 |
Jefferies Financial Group, Inc. | 36,268 | 1,167,104 |
LPL Financial Holdings, Inc. | 5,355 | 1,202,305 |
Raymond James Financial, Inc. | 7,445 | 710,551 |
State Street Corp. | 14,678 | 948,639 |
Virtu Financial, Inc., Class A | 5,806 | 107,353 |
5,937,649 | ||
Leisure Goods — 0.7% | ||
Garmin Ltd. | 8,876 | 910,056 |
Harley-Davidson, Inc. | 2,172 | 58,318 |
Polaris, Inc. (a) | 4,697 | 405,915 |
INVESTMENTS | SHARES | VALUE ($) |
Leisure Goods — continued | ||
Pool Corp. | 1,423 | 449,341 |
Thor Industries, Inc. (a) | 4,854 | 426,812 |
2,250,442 | ||
Life Insurance — 1.3% | ||
Aflac, Inc. | 17,965 | 1,403,246 |
Primerica, Inc. | 1,376 | 263,036 |
Principal Financial Group, Inc. | 15,176 | 1,027,112 |
Unum Group | 27,763 | 1,357,611 |
4,051,005 | ||
Media — 1.1% | ||
Interpublic Group of Cos., Inc. (The) | 33,981 | 965,060 |
Liberty Media Corp-Liberty Live, Class A * | 3,534 | 110,402 |
Liberty Media Corp-Liberty SiriusXM, Class A * | 13,073 | 320,158 |
Nexstar Media Group, Inc. | 8,063 | 1,129,465 |
Omnicom Group, Inc. | 10,660 | 798,541 |
3,323,626 | ||
Medical Equipment & Services — 4.5% | ||
Agilent Technologies, Inc. | 9,009 | 931,260 |
Bio-Techne Corp. | 3,256 | 177,875 |
Bruker Corp. | 15,306 | 872,442 |
Cooper Cos., Inc. (The) | 2,395 | 746,641 |
Dentsply Sirona, Inc. | 20,247 | 615,711 |
Envista Holdings Corp. * | 8,478 | 197,283 |
Henry Schein, Inc. * | 17,950 | 1,166,391 |
Hologic, Inc. * | 17,192 | 1,137,595 |
Integra LifeSciences Holdings Corp. * | 4,889 | 175,808 |
Laboratory Corp. of America Holdings | 5,281 | 1,054,774 |
QIAGEN NV * (a) | 730 | 27,324 |
QIAGEN NV * | 24,439 | 914,752 |
Quest Diagnostics, Inc. | 10,055 | 1,308,156 |
QuidelOrtho Corp. * | 11,556 | 705,840 |
ResMed, Inc. | 5,373 | 758,775 |
Revvity, Inc. | 8,553 | 708,616 |
STERIS plc | 5,957 | 1,250,851 |
Teleflex, Inc. | 809 | 149,463 |
West Pharmaceutical Services, Inc. | 3,371 | 1,072,956 |
13,972,513 | ||
Mortgage Real Estate Investment Trusts — 0.7% | ||
Annaly Capital Management, Inc. | 11,191 | 174,691 |
Rithm Capital Corp. | 131,861 | 1,230,263 |
Starwood Property Trust, Inc. (a) | 47,569 | 844,350 |
2,249,304 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 171 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Non-life Insurance — 3.1% | ||
American Financial Group, Inc. | 9,144 | 999,988 |
Arch Capital Group Ltd. * | 3,663 | 317,509 |
Arthur J Gallagher & Co. | 5,950 | 1,401,165 |
Assured Guaranty Ltd. | 7,081 | 441,854 |
Axis Capital Holdings Ltd. | 6,437 | 367,553 |
Brown & Brown, Inc. | 6,252 | 434,014 |
CNA Financial Corp. | 209 | 8,444 |
Everest Group Ltd. | 1,942 | 768,294 |
Fidelity National Financial, Inc. | 11,500 | 449,535 |
First American Financial Corp. | 6,283 | 323,198 |
Hanover Insurance Group, Inc. (The) | 488 | 57,198 |
Hartford Financial Services Group, Inc. (The) | 17,937 | 1,317,473 |
Old Republic International Corp. | 50,103 | 1,371,820 |
Reinsurance Group of America, Inc. | 6,981 | 1,043,450 |
White Mountains Insurance Group Ltd. | 270 | 386,302 |
9,687,797 | ||
Non-Renewable Energy — 7.1% | ||
Antero Midstream Corp. | 112,592 | 1,389,385 |
Antero Resources Corp. * | 37,690 | 1,109,594 |
APA Corp. | 20,810 | 826,573 |
Cheniere Energy, Inc. | 6,718 | 1,118,010 |
Chesapeake Energy Corp. (a) | 12,673 | 1,090,892 |
Coterra Energy, Inc. | 48,275 | 1,327,563 |
Devon Energy Corp. | 17,353 | 808,129 |
Diamondback Energy, Inc. | 8,881 | 1,423,802 |
DT Midstream, Inc. | 4,756 | 256,681 |
EQT Corp. | 31,067 | 1,316,620 |
Halliburton Co. | 30,394 | 1,195,700 |
Hess Corp. | 7,311 | 1,055,708 |
HF Sinclair Corp. | 24,171 | 1,338,590 |
Marathon Oil Corp. | 42,143 | 1,150,925 |
ONEOK, Inc. | 19,267 | 1,256,208 |
Phillips 66 | 11,736 | 1,338,726 |
Range Resources Corp. (a) | 14,377 | 515,272 |
Targa Resources Corp. | 15,704 | 1,313,011 |
Texas Pacific Land Corp. | 521 | 961,740 |
Williams Cos., Inc. (The) | 37,911 | 1,304,138 |
22,097,267 | ||
Personal Care, Drug & Grocery Stores — 3.6% | ||
Albertsons Cos., Inc., Class A | 61,121 | 1,326,326 |
Casey's General Stores, Inc. | 5,646 | 1,535,204 |
Cencora, Inc. (a) | 7,822 | 1,448,243 |
Church & Dwight Co., Inc. | 14,287 | 1,299,260 |
INVESTMENTS | SHARES | VALUE ($) |
Personal Care, Drug & Grocery Stores — continued | ||
Clorox Co. (The) | 8,865 | 1,043,411 |
GCI Liberty Inc. ‡ * | 8,086 | — |
Grocery Outlet Holding Corp. * | 14,693 | 406,555 |
Kroger Co. (The) | 29,715 | 1,348,170 |
Olaplex Holdings, Inc. * (a) | 71,671 | 101,773 |
Performance Food Group Co. * | 22,036 | 1,272,799 |
Reynolds Consumer Products, Inc. | 23,973 | 609,633 |
Spectrum Brands Holdings, Inc. | 10,717 | 807,204 |
11,198,578 | ||
Personal Goods — 0.8% | ||
Carter's, Inc. (a) | 2,963 | 198,995 |
Crocs, Inc. * | 8,346 | 745,465 |
Deckers Outdoor Corp. * | 1,295 | 773,193 |
Tapestry, Inc. | 29,699 | 818,504 |
2,536,157 | ||
Pharmaceuticals, Biotechnology & Marijuana Producers — 2.7% | ||
Biogen, Inc. * (a) | 1,046 | 248,467 |
Cardinal Health, Inc. | 15,437 | 1,404,767 |
Exelixis, Inc. * | 26,945 | 554,798 |
Fortrea Holdings, Inc. * (a) | 5,581 | 158,500 |
Incyte Corp. * | 14,633 | 789,158 |
Jazz Pharmaceuticals plc * | 9,009 | 1,144,323 |
Maravai LifeSciences Holdings, Inc., Class A * | 19,951 | 136,864 |
Neurocrine Biosciences, Inc. * | 5,325 | 590,755 |
Royalty Pharma plc | 33,412 | 897,780 |
United Therapeutics Corp. * | 5,293 | 1,179,598 |
Viatris, Inc. | 127,153 | 1,131,662 |
8,236,672 | ||
Precious Metals & Mining — 0.2% | ||
SSR Mining, Inc. (Canada) (a) | 35,840 | 497,459 |
Real Estate Investment & Services — 1.3% | ||
CBRE Group, Inc., Class A * | 15,953 | 1,106,181 |
CoStar Group, Inc. * | 16,642 | 1,221,689 |
Jones Lang LaSalle, Inc. * | 6,197 | 792,720 |
Zillow Group, Inc., Class C * | 24,371 | 883,449 |
4,004,039 | ||
Real Estate Investment Trusts — 9.4% | ||
American Homes 4 Rent, Class A | 17,929 | 586,995 |
AvalonBay Communities, Inc. | 1,397 | 231,539 |
Brixmor Property Group, Inc. | 62,488 | 1,299,126 |
Camden Property Trust | 7,255 | 615,804 |
Cousins Properties, Inc. | 16,554 | 295,820 |
172 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Real Estate Investment Trusts — continued | ||
CubeSmart | 33,125 | 1,129,231 |
EastGroup Properties, Inc. | 5,961 | 973,133 |
EPR Properties | 23,946 | 1,022,494 |
First Industrial Realty Trust, Inc. | 19,238 | 813,767 |
Gaming and Leisure Properties, Inc. | 28,968 | 1,314,858 |
Highwoods Properties, Inc. (a) | 10,395 | 185,967 |
Host Hotels & Resorts, Inc. | 86,778 | 1,343,323 |
Iron Mountain, Inc. (a) | 21,618 | 1,276,975 |
Kimco Realty Corp. | 61,242 | 1,098,682 |
Lamar Advertising Co., Class A (a) | 15,026 | 1,236,189 |
Mid-America Apartment Communities, Inc. | 6,997 | 826,696 |
NNN REIT, Inc. | 23,221 | 843,619 |
Omega Healthcare Investors, Inc. (a) | 41,992 | 1,389,935 |
Park Hotels & Resorts, Inc. | 80,775 | 931,336 |
Rayonier, Inc. | 20,397 | 514,820 |
Regency Centers Corp. | 22,022 | 1,327,046 |
Rexford Industrial Realty, Inc. | 18,409 | 796,005 |
Simon Property Group, Inc. | 11,958 | 1,314,065 |
Spirit Realty Capital, Inc. | 35,174 | 1,265,912 |
STAG Industrial, Inc. | 30,209 | 1,003,543 |
Ventas, Inc. | 20,880 | 886,565 |
VICI Properties, Inc. | 44,337 | 1,237,002 |
Welltower, Inc. | 15,496 | 1,295,621 |
Weyerhaeuser Co. | 42,018 | 1,205,496 |
WP Carey, Inc. | 17,317 | 929,057 |
29,190,621 | ||
Retailers — 2.7% | ||
AutoNation, Inc. * | 8,566 | 1,114,265 |
Bath & Body Works, Inc. | 3,386 | 100,395 |
Best Buy Co., Inc. | 13,643 | 911,625 |
Dick's Sporting Goods, Inc. (a) | 9,877 | 1,056,345 |
Kohl's Corp. (a) | 1,356 | 30,578 |
Macy's, Inc. (a) | 37,645 | 458,516 |
Penske Automotive Group, Inc. (a) | 8,273 | 1,183,701 |
Ross Stores, Inc. | 9,819 | 1,138,710 |
Tractor Supply Co. (a) | 6,070 | 1,168,839 |
Williams-Sonoma, Inc. | 7,474 | 1,122,894 |
8,285,868 | ||
Software & Computer Services — 4.3% | ||
Akamai Technologies, Inc. * | 4,959 | 512,413 |
Amdocs Ltd. | 14,133 | 1,132,901 |
ANSYS, Inc. * | 4,133 | 1,150,049 |
CACI International, Inc., Class A * | 3,771 | 1,224,670 |
INVESTMENTS | SHARES | VALUE ($) |
Software & Computer Services — continued | ||
Concentrix Corp. (a) | 5,638 | 429,672 |
Dolby Laboratories, Inc., Class A | 11,639 | 942,061 |
EPAM Systems, Inc. * | 489 | 106,392 |
Gartner, Inc. * | 3,898 | 1,294,292 |
Gen Digital, Inc. | 14,877 | 247,851 |
Hewlett Packard Enterprise Co. | 64,992 | 999,577 |
Leidos Holdings, Inc. | 10,015 | 992,687 |
Manhattan Associates, Inc. * | 6,827 | 1,331,128 |
Paycom Software, Inc. | 570 | 139,633 |
Science Applications International Corp. | 7,864 | 859,063 |
SS&C Technologies Holdings, Inc. | 19,486 | 979,171 |
Tyler Technologies, Inc. * | 2,602 | 970,286 |
13,311,846 | ||
Technology Hardware & Equipment — 4.2% | ||
Amphenol Corp., Class A | 15,522 | 1,250,297 |
CDW Corp. | 6,451 | 1,292,780 |
Cirrus Logic, Inc. * | 11,041 | 738,974 |
Corning, Inc. | 26,912 | 720,165 |
HP, Inc. | 28,960 | 762,517 |
Jabil, Inc. (a) | 11,890 | 1,460,092 |
Microchip Technology, Inc. | 10,783 | 768,720 |
Monolithic Power Systems, Inc. | 2,624 | 1,159,126 |
NetApp, Inc. | 13,391 | 974,597 |
ON Semiconductor Corp. * | 13,837 | 866,750 |
Qorvo, Inc. * | 8,432 | 737,126 |
Skyworks Solutions, Inc. | 7,933 | 688,108 |
TD SYNNEX Corp. | 8,397 | 769,837 |
Teradyne, Inc. (a) | 10,252 | 853,684 |
13,042,773 | ||
Telecommunications Equipment — 1.3% | ||
Ciena Corp. * | 25,126 | 1,060,317 |
Juniper Networks, Inc. | 46,662 | 1,256,141 |
Lumentum Holdings, Inc. * (a) | 19,555 | 766,752 |
Ubiquiti, Inc. (a) | 3,545 | 430,540 |
Viasat, Inc. * (a) | 19,709 | 363,434 |
3,877,184 | ||
Telecommunications Service Providers — 1.7% | ||
Cable One, Inc. | 2,004 | 1,101,940 |
DISH Network Corp., Class A * (a) | 152,726 | 748,358 |
Frontier Communications Parent, Inc. * (a) | 59,058 | 1,058,319 |
Iridium Communications, Inc. | 14,926 | 553,008 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 173 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Telecommunications Service Providers — continued | ||
Liberty Broadband Corp., Class C * | 13,972 | 1,164,007 |
Roku, Inc. * (a) | 10,340 | 615,954 |
5,241,586 | ||
Travel & Leisure — 1.5% | ||
Boyd Gaming Corp. | 15,748 | 870,077 |
Choice Hotels International, Inc. (a) | 3,002 | 331,721 |
Darden Restaurants, Inc. | 6,653 | 968,211 |
MGM Resorts International | 23,897 | 834,484 |
Texas Roadhouse, Inc. | 9,293 | 943,611 |
Travel + Leisure Co. | 5,508 | 187,437 |
Wendy's Co. (The) | 29,038 | 552,303 |
4,687,844 | ||
Waste & Disposal Services — 0.9% | ||
Clean Harbors, Inc. * | 7,933 | 1,219,064 |
Republic Services, Inc. | 9,478 | 1,407,388 |
Stericycle, Inc. * | 7,546 | 311,197 |
2,937,649 | ||
Total Common Stocks (Cost $328,157,718) | 309,606,119 | |
Short-Term Investments — 8.6% | ||
Investment Companies — 0.1% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (b) (c)(Cost $280,906) | 280,906 | 280,906 |
INVESTMENTS | SHARES | VALUE ($) |
Investment of Cash Collateral from Securities Loaned — 8.5% | ||
JPMorgan Securities Lending Money Market Fund Class Agency SL Shares, 5.53% (b) (c) | 21,995,601 | 22,000,000 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (b) (c) | 4,283,512 | 4,283,512 |
Total Investment of Cash Collateral from Securities Loaned (Cost $26,283,711) | 26,283,512 | |
Total Short-Term Investments (Cost $26,564,617) | 26,564,418 | |
Total Investments — 108.4% (Cost $354,722,335) | 336,170,537 | |
Liabilities in Excess of Other Assets — (8.4)% | (26,106,590 ) | |
NET ASSETS — 100.0% | 310,063,947 |
Percentages indicated are based on 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 October 31, 2023. The total value of securities on loan at October 31, 2023 is $25,944,054. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of October 31, 2023. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P MidCap 400 E-Mini Index | 1 | 12/15/2023 | USD | 237,440 | 3,758 |
Abbreviations | |
USD | United States Dollar |
174 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — 99.9% | ||
Aerospace & Defense — 0.1% | ||
Moog, Inc., Class A | 2,573 | 298,597 |
National Presto Industries, Inc. | 3,020 | 225,745 |
524,342 | ||
Automobiles & Parts — 0.2% | ||
Dorman Products, Inc. * | 6,331 | 393,661 |
Gentherm, Inc. * | 13,777 | 554,111 |
947,772 | ||
Banks — 4.9% | ||
1st Source Corp. | 5,129 | 233,985 |
Ameris Bancorp | 20,159 | 751,931 |
Atlantic Union Bankshares Corp. (a) | 12,551 | 361,594 |
Axos Financial, Inc. * | 15,449 | 556,627 |
BancFirst Corp. | 5,368 | 435,398 |
Bancorp, Inc. (The) * | 11,062 | 394,360 |
Bank of NT Butterfield & Son Ltd. (The) (Bermuda) | 29,884 | 754,870 |
Banner Corp. | 2,105 | 88,852 |
Brookline Bancorp, Inc. | 981 | 7,985 |
Capital City Bank Group, Inc. | 1,885 | 53,854 |
Cathay General Bancorp | 19,236 | 652,293 |
City Holding Co. (a) | 2,286 | 207,523 |
Community Trust Bancorp, Inc. | 5,137 | 192,946 |
Enterprise Financial Services Corp. | 6,353 | 220,894 |
First BanCorp (Puerto Rico) | 35,640 | 475,794 |
First Busey Corp. | 9,935 | 197,309 |
First Commonwealth Financial Corp. | 18,940 | 230,689 |
First Financial Bancorp | 19,969 | 369,427 |
First Financial Corp. | 2,757 | 94,868 |
First Merchants Corp. | 6,397 | 174,702 |
Fulton Financial Corp. | 35,071 | 455,572 |
Hancock Whitney Corp. | 12,399 | 426,898 |
Hilltop Holdings, Inc. | 38,917 | 1,074,888 |
Home BancShares, Inc. | 36,074 | 737,713 |
Hope Bancorp, Inc. | 59,763 | 523,524 |
International Bancshares Corp. | 10,264 | 449,871 |
Lakeland Financial Corp. | 1,291 | 63,582 |
NBT Bancorp, Inc. | 16,139 | 540,172 |
Northwest Bancshares, Inc. | 56,021 | 583,739 |
OceanFirst Financial Corp. | 35,045 | 443,670 |
OFG Bancorp (Puerto Rico) | 26,456 | 783,627 |
Old National Bancorp | 69,290 | 949,273 |
Pathward Financial, Inc. | 5,435 | 246,151 |
Renasant Corp. | 22,271 | 543,190 |
Republic Bancorp, Inc., Class A | 3,695 | 163,282 |
INVESTMENTS | SHARES | VALUE ($) |
Banks — continued | ||
Simmons First National Corp., Class A | 30,927 | 439,473 |
TrustCo Bank Corp. | 10,038 | 256,270 |
Trustmark Corp. | 18,477 | 371,572 |
UMB Financial Corp. | 3,999 | 250,817 |
United Bankshares, Inc. | 31,992 | 909,853 |
United Community Banks, Inc. | 17,681 | 390,573 |
Valley National Bancorp | 101,487 | 789,569 |
WaFd, Inc. | 28,798 | 710,735 |
WesBanco, Inc. | 18,653 | 454,947 |
19,014,862 | ||
Beverages — 1.4% | ||
Coca-Cola Consolidated, Inc. | 1,967 | 1,251,819 |
Duckhorn Portfolio, Inc. (The) * | 25,116 | 261,960 |
MGP Ingredients, Inc. (a) | 10,996 | 1,040,881 |
National Beverage Corp. * | 26,675 | 1,237,187 |
Primo Water Corp. | 86,055 | 1,123,878 |
Vita Coco Co., Inc. (The) * (a) | 19,154 | 519,073 |
5,434,798 | ||
Chemicals — 3.1% | ||
AdvanSix, Inc. | 24,301 | 669,492 |
American Vanguard Corp. | 26,064 | 243,959 |
Avient Corp. | 28,516 | 901,676 |
Balchem Corp. | 9,321 | 1,083,473 |
Cabot Corp. | 15,743 | 1,046,595 |
Ecovyst, Inc. * | 56,673 | 521,392 |
Ingevity Corp. * | 15,808 | 636,746 |
Innospec, Inc. | 11,703 | 1,146,894 |
Intrepid Potash, Inc. * | 14,320 | 284,825 |
Livent Corp. * (a) | 40,245 | 587,175 |
LSB Industries, Inc. * | 85,175 | 775,944 |
Orion SA (Germany) | 48,948 | 993,644 |
Quaker Chemical Corp. | 4,841 | 695,748 |
Rayonier Advanced Materials, Inc. * | 115,845 | 320,891 |
Sensient Technologies Corp. | 10,512 | 593,087 |
Stepan Co. | 10,006 | 748,449 |
Tronox Holdings plc | 68,700 | 734,403 |
11,984,393 | ||
Construction & Materials — 2.1% | ||
Atkore, Inc. * | 7,900 | 981,812 |
BlueLinx Holdings, Inc. * | 2,764 | 196,548 |
Comfort Systems USA, Inc. | 7,123 | 1,295,317 |
Exponent, Inc. | 8,809 | 645,612 |
GMS, Inc. * | 12,862 | 752,170 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 175 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Construction & Materials — continued | ||
Griffon Corp. | 8,652 | 345,561 |
Installed Building Products, Inc. | 5,652 | 631,159 |
Masonite International Corp. * | 5,736 | 453,947 |
Mueller Water Products, Inc., Class A | 8,689 | 107,483 |
Patrick Industries, Inc. | 12,509 | 940,051 |
Quanex Building Products Corp. | 7,405 | 198,824 |
Simpson Manufacturing Co., Inc. | 8,128 | 1,082,487 |
Sterling Infrastructure, Inc. * | 7,321 | 533,335 |
8,164,306 | ||
Consumer Services — 1.1% | ||
Carriage Services, Inc. | 4,190 | 90,504 |
Cars.com, Inc. * | 14,167 | 215,763 |
Laureate Education, Inc., Class A | 92,283 | 1,304,882 |
Perdoceo Education Corp. | 59,556 | 1,077,368 |
PROG Holdings, Inc. * | 11,892 | 325,722 |
Strategic Education, Inc. | 8,718 | 717,579 |
Upbound Group, Inc. | 24,422 | 636,437 |
4,368,255 | ||
Electricity — 1.5% | ||
ALLETE, Inc. | 23,683 | 1,267,988 |
MGE Energy, Inc. | 11,296 | 809,132 |
Northwestern Energy Group, Inc. | 25,953 | 1,246,004 |
Ormat Technologies, Inc. (a) | 1,539 | 94,710 |
PNM Resources, Inc. | 29,446 | 1,244,388 |
Portland General Electric Co. | 25,988 | 1,040,040 |
5,702,262 | ||
Electronic & Electrical Equipment — 1.3% | ||
AZZ, Inc. | 8,894 | 420,419 |
Badger Meter, Inc. | 7,881 | 1,091,913 |
Belden, Inc. | 8,702 | 616,972 |
Encore Wire Corp. (a) | 6,402 | 1,144,870 |
EnerSys | 5,366 | 459,222 |
Watts Water Technologies, Inc., Class A | 7,008 | 1,212,454 |
4,945,850 | ||
Finance & Credit Services — 1.9% | ||
Enact Holdings, Inc. | 9,279 | 255,729 |
Encore Capital Group, Inc. * | 4,929 | 185,725 |
Enova International, Inc. * | 16,596 | 661,848 |
Federal Agricultural Mortgage Corp., Class C | 3,519 | 522,783 |
FirstCash Holdings, Inc. | 4,954 | 539,590 |
Mr. Cooper Group, Inc. * | 23,182 | 1,310,478 |
Navient Corp. | 64,315 | 1,023,252 |
INVESTMENTS | SHARES | VALUE ($) |
Finance & Credit Services — continued | ||
Nelnet, Inc., Class A | 5,075 | 430,411 |
PennyMac Financial Services, Inc. | 18,036 | 1,212,019 |
Radian Group, Inc. | 48,329 | 1,224,657 |
7,366,492 | ||
Food Producers — 4.4% | ||
Andersons, Inc. (The) | 25,175 | 1,262,023 |
B&G Foods, Inc. (a) | 69,558 | 561,333 |
BellRing Brands, Inc. * | 31,903 | 1,395,118 |
Cal-Maine Foods, Inc. (a) | 27,402 | 1,241,585 |
Fresh Del Monte Produce, Inc. | 33,685 | 842,125 |
GrowGeneration Corp. * | 98,895 | 201,746 |
Herbalife Ltd. * (a) | 39,393 | 561,350 |
Hostess Brands, Inc. * | 46,394 | 1,549,560 |
J & J Snack Foods Corp. | 7,628 | 1,194,621 |
John B Sanfilippo & Son, Inc. | 10,444 | 1,068,003 |
Lancaster Colony Corp. | 6,969 | 1,178,946 |
Medifast, Inc. | 14,279 | 987,536 |
Nature's Sunshine Products, Inc. * | 12,000 | 214,800 |
Simply Good Foods Co. (The) * | 36,166 | 1,348,630 |
Sovos Brands, Inc. * (a) | 39,084 | 848,514 |
SunOpta, Inc. (Canada) * | 42,278 | 162,347 |
TreeHouse Foods, Inc. * | 26,624 | 1,109,955 |
USANA Health Sciences, Inc. * | 11,628 | 529,655 |
Utz Brands, Inc. (a) | 67,322 | 820,655 |
17,078,502 | ||
Gas, Water & Multi-utilities — 3.4% | ||
American States Water Co. | 15,551 | 1,213,755 |
Aris Water Solutions, Inc., Class A | 21,160 | 176,686 |
Avista Corp. | 33,543 | 1,062,978 |
Black Hills Corp. | 23,899 | 1,155,517 |
Brookfield Infrastructure Corp., Class A (Canada) (a) | 33,317 | 858,246 |
California Water Service Group | 23,061 | 1,122,609 |
Chesapeake Utilities Corp. | 7,876 | 697,892 |
Excelerate Energy, Inc., Class A | 23,109 | 328,610 |
Middlesex Water Co. | 8,941 | 568,022 |
New Jersey Resources Corp. | 30,932 | 1,255,220 |
Northwest Natural Holding Co. | 27,384 | 1,005,267 |
ONE Gas, Inc. | 17,867 | 1,079,167 |
SJW Group | 19,985 | 1,248,663 |
Spire, Inc. | 22,252 | 1,237,879 |
13,010,511 |
176 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
General Industrials — 1.4% | ||
Apogee Enterprises, Inc. | 9,312 | 399,671 |
Barnes Group, Inc. | 5,699 | 118,482 |
CSW Industrials, Inc. | 3,370 | 597,366 |
Greif, Inc., Class A | 12,264 | 778,764 |
HB Fuller Co. | 16,889 | 1,117,207 |
Kronos Worldwide, Inc. (a) | 27,393 | 189,012 |
Myers Industries, Inc. | 11,427 | 191,631 |
Otter Tail Corp. (a) | 15,990 | 1,230,271 |
Standex International Corp. | 5,688 | 816,626 |
TriMas Corp. | 4,150 | 100,472 |
5,539,502 | ||
Health Care Providers — 2.7% | ||
Addus HomeCare Corp. * | 8,747 | 690,138 |
Apollo Medical Holdings, Inc. * | 22,894 | 714,522 |
Computer Programs and Systems, Inc. * | 11,594 | 163,359 |
CorVel Corp. * | 5,656 | 1,096,925 |
Ensign Group, Inc. (The) | 13,327 | 1,287,388 |
Healthcare Services Group, Inc. | 17,862 | 169,689 |
HealthEquity, Inc. * | 12,874 | 922,808 |
NextGen Healthcare, Inc. * (a) | 36,805 | 880,376 |
Omnicell, Inc. * | 8,938 | 317,657 |
Option Care Health, Inc. * | 38,246 | 1,060,562 |
Pennant Group, Inc. (The) * | 12,527 | 136,168 |
RadNet, Inc. * | 13,679 | 368,786 |
Select Medical Holdings Corp. | 45,054 | 1,024,077 |
Surgery Partners, Inc. * (a) | 29,651 | 685,828 |
US Physical Therapy, Inc. (a) | 9,021 | 758,756 |
10,277,039 | ||
Household Goods & Home Construction — 2.9% | ||
Beazer Homes USA, Inc. * | 16,662 | 403,054 |
Central Garden & Pet Co., Class A * | 16,422 | 651,789 |
Century Communities, Inc. | 5,991 | 368,446 |
CompX International, Inc. | 3,039 | 57,194 |
Ethan Allen Interiors, Inc. (a) | 38,227 | 1,003,841 |
Green Brick Partners, Inc. * | 14,341 | 554,997 |
HNI Corp. | 20,609 | 714,926 |
Interface, Inc. | 43,820 | 389,560 |
KB Home | 17,539 | 775,224 |
La-Z-Boy, Inc. | 34,458 | 1,007,552 |
LGI Homes, Inc. * | 2,288 | 216,239 |
M/I Homes, Inc. * | 13,070 | 1,072,655 |
MDC Holdings, Inc. | 19,280 | 731,676 |
Meritage Homes Corp. | 6,602 | 752,760 |
INVESTMENTS | SHARES | VALUE ($) |
Household Goods & Home Construction — continued | ||
MillerKnoll, Inc. | 22,136 | 520,196 |
Steelcase, Inc., Class A | 32,482 | 354,379 |
Taylor Morrison Home Corp. * | 27,211 | 1,042,725 |
Tri Pointe Homes, Inc. * | 26,386 | 661,233 |
11,278,446 | ||
Industrial Engineering — 1.0% | ||
Albany International Corp., Class A | 6,313 | 515,204 |
Astec Industries, Inc. | 643 | 25,746 |
Columbus McKinnon Corp. | 10,844 | 331,501 |
EnPro Industries, Inc. | 6,512 | 723,223 |
Franklin Electric Co., Inc. | 13,082 | 1,134,471 |
Hillenbrand, Inc. | 22,927 | 871,914 |
Tennant Co. | 415 | 30,801 |
Titan Machinery, Inc. * | 903 | 22,430 |
3,655,290 | ||
Industrial Materials — 2.0% | ||
Boise Cascade Co. | 11,885 | 1,114,219 |
Clearwater Paper Corp. * | 22,588 | 763,700 |
Koppers Holdings, Inc. | 21,509 | 786,584 |
Materion Corp. | 11,020 | 1,068,719 |
Mativ Holdings, Inc. | 52,098 | 682,484 |
Minerals Technologies, Inc. | 18,078 | 977,297 |
Sylvamo Corp. (a) | 27,816 | 1,232,249 |
Tredegar Corp. | 13,432 | 60,175 |
UFP Industries, Inc. | 12,335 | 1,173,922 |
7,859,349 | ||
Industrial Metals & Mining — 3.5% | ||
Carpenter Technology Corp. | 20,426 | 1,281,119 |
Commercial Metals Co. | 23,003 | 972,797 |
Compass Minerals International, Inc. (a) | 28,263 | 696,400 |
Constellium SE * | 59,281 | 936,640 |
GrafTech International Ltd. | 218,521 | 753,897 |
Haynes International, Inc. | 12,638 | 543,750 |
Kaiser Aluminum Corp. | 5,481 | 311,321 |
Mueller Industries, Inc. (a) | 33,984 | 1,281,537 |
Olympic Steel, Inc. | 11,650 | 591,471 |
Piedmont Lithium, Inc. * (a) | 17,249 | 473,830 |
Ryerson Holding Corp. | 41,388 | 1,202,321 |
Schnitzer Steel Industries, Inc., Class A | 23,897 | 542,701 |
TimkenSteel Corp. * | 48,039 | 976,633 |
Uranium Energy Corp. * (a) | 199,311 | 1,185,900 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 177 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Industrial Metals & Mining — continued | ||
US Silica Holdings, Inc. * | 70,741 | 853,844 |
Worthington Industries, Inc. | 17,121 | 1,054,996 |
13,659,157 | ||
Industrial Support Services — 2.4% | ||
ABM Industries, Inc. | 17,320 | 681,369 |
Applied Industrial Technologies, Inc. | 8,416 | 1,291,940 |
ASGN, Inc. * | 7,626 | 636,466 |
CoreCivic, Inc., REIT * (a) | 62,967 | 799,681 |
CRA International, Inc. | 6,120 | 594,313 |
Cross Country Healthcare, Inc. * | 15,850 | 367,086 |
Donnelley Financial Solutions, Inc. * | 4,827 | 262,734 |
DXP Enterprises, Inc. * | 1,669 | 54,409 |
EVERTEC, Inc. (Puerto Rico) | 15,096 | 479,751 |
ExlService Holdings, Inc. * | 6,364 | 166,164 |
Forrester Research, Inc. * | 1,778 | 41,250 |
Heidrick & Struggles International, Inc. | 7,796 | 189,755 |
Insperity, Inc. | 6,188 | 654,938 |
Korn Ferry | 9,527 | 433,669 |
Maximus, Inc. | 15,458 | 1,155,022 |
Pitney Bowes, Inc. (a) | 67,428 | 217,792 |
Resources Connection, Inc. | 8,315 | 112,003 |
Target Hospitality Corp. * (a) | 16,341 | 224,362 |
TriNet Group, Inc. * | 9,315 | 957,116 |
TrueBlue, Inc. * | 5,730 | 63,431 |
UniFirst Corp. | 105 | 17,265 |
9,400,516 | ||
Industrial Transportation — 3.6% | ||
ArcBest Corp. | 9,854 | 1,072,904 |
Ardmore Shipping Corp. (Ireland) | 39,770 | 528,543 |
Costamare, Inc. (Monaco) (a) | 27,734 | 250,438 |
DHT Holdings, Inc. | 114,282 | 1,270,816 |
Dorian LPG Ltd. | 20,386 | 651,740 |
Federal Signal Corp. | 11,197 | 649,874 |
FLEX LNG Ltd. (Norway) | 11,729 | 358,204 |
Forward Air Corp. | 7,774 | 500,723 |
GATX Corp. | 7,255 | 758,728 |
Genco Shipping & Trading Ltd. | 26,654 | 351,033 |
Hub Group, Inc., Class A * | 3,114 | 214,088 |
International Seaways, Inc. | 19,025 | 914,912 |
Matson, Inc. | 14,635 | 1,273,977 |
McGrath RentCorp | 6,259 | 629,655 |
Nordic American Tankers Ltd. | 71,351 | 327,501 |
Scorpio Tankers, Inc. (Monaco) | 19,365 | 1,087,345 |
INVESTMENTS | SHARES | VALUE ($) |
Industrial Transportation — continued | ||
Teekay Tankers Ltd., Class A (Canada) | 28,350 | 1,408,995 |
Textainer Group Holdings Ltd. (China) | 10,378 | 509,767 |
Tingo Group, Inc. * (a) | 756,710 | 591,293 |
Wabash National Corp. | 22,142 | 458,118 |
13,808,654 | ||
Investment Banking & Brokerage Services — 1.2% | ||
Artisan Partners Asset Management, Inc., Class A (a) | 30,078 | 992,574 |
Avantax, Inc. * | 10,105 | 260,810 |
Brightsphere Investment Group, Inc. | 25,834 | 404,561 |
Cannae Holdings, Inc. * | 15,336 | 250,744 |
Cohen & Steers, Inc. (a) | 3,926 | 205,094 |
Hamilton Lane, Inc., Class A | 6,172 | 519,189 |
Moelis & Co., Class A (a) | 18,713 | 779,209 |
StoneX Group, Inc. * | 3,126 | 297,970 |
Victory Capital Holdings, Inc., Class A | 10,383 | 305,883 |
Virtus Investment Partners, Inc. | 1,569 | 289,057 |
WisdomTree, Inc. | 40,801 | 252,966 |
4,558,057 | ||
Leisure Goods — 1.1% | ||
Camping World Holdings, Inc., Class A (a) | 34,569 | 579,031 |
Fox Factory Holding Corp. * | 875 | 71,286 |
LCI Industries (a) | 5,446 | 590,837 |
Smith & Wesson Brands, Inc. (a) | 75,602 | 1,113,617 |
Sturm Ruger & Co., Inc. | 23,323 | 1,290,928 |
Winnebago Industries, Inc. | 12,784 | 740,833 |
4,386,532 | ||
Life Insurance — 1.4% | ||
American Equity Investment Life Holding Co. | 24,551 | 1,300,221 |
CNO Financial Group, Inc. | 50,837 | 1,178,402 |
Genworth Financial, Inc., Class A * | 216,050 | 1,294,139 |
Jackson Financial, Inc., Class A | 31,124 | 1,142,562 |
National Western Life Group, Inc., Class A | 977 | 467,885 |
5,383,209 | ||
Media — 0.4% | ||
Gray Television, Inc. | 31,242 | 203,698 |
Scholastic Corp. | 6,649 | 245,348 |
TEGNA, Inc. | 76,741 | 1,113,512 |
1,562,558 | ||
Medical Equipment & Services — 2.9% | ||
AdaptHealth Corp. * | 37,781 | 276,935 |
Anika Therapeutics, Inc. * | 4,287 | 83,597 |
178 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Medical Equipment & Services — continued | ||
AtriCure, Inc. * | 16,553 | 573,396 |
Atrion Corp. | 379 | 129,610 |
Avanos Medical, Inc. * | 12,248 | 224,873 |
CONMED Corp. | 9,915 | 966,316 |
Fulgent Genetics, Inc. * (a) | 21,862 | 523,376 |
Haemonetics Corp. * | 11,931 | 1,016,879 |
Integer Holdings Corp. * | 13,795 | 1,119,740 |
Lantheus Holdings, Inc. * | 15,463 | 998,910 |
Merit Medical Systems, Inc. * | 15,571 | 1,070,351 |
NeoGenomics, Inc. * | 43,766 | 613,599 |
OraSure Technologies, Inc. * | 93,888 | 484,462 |
Owens & Minor, Inc. * | 33,059 | 473,735 |
Patterson Cos., Inc. | 24,734 | 753,398 |
STAAR Surgical Co. * | 5,429 | 227,041 |
Surmodics, Inc. * | 2,351 | 69,260 |
UFP Technologies, Inc. * | 5,043 | 786,305 |
Varex Imaging Corp. * | 35,586 | 642,327 |
Zynex, Inc. * (a) | 23,345 | 207,304 |
11,241,414 | ||
Mortgage Real Estate Investment Trusts — 1.9% | ||
Apollo Commercial Real Estate Finance, Inc. (a) | 81,221 | 808,961 |
Arbor Realty Trust, Inc. (a) | 60,340 | 760,887 |
Dynex Capital, Inc. | 48,407 | 486,006 |
Ellington Financial, Inc. (a) | 68,968 | 829,685 |
KKR Real Estate Finance Trust, Inc. | 30,891 | 322,502 |
Ladder Capital Corp. | 72,869 | 736,706 |
MFA Financial, Inc. | 75,644 | 672,475 |
New York Mortgage Trust, Inc. | 54,253 | 422,631 |
PennyMac Mortgage Investment Trust (a) | 39,171 | 495,513 |
Ready Capital Corp. (a) | 77,826 | 733,899 |
Redwood Trust, Inc. (a) | 71,559 | 449,391 |
TPG RE Finance Trust, Inc. | 15,671 | 86,347 |
Two Harbors Investment Corp. (a) | 36,213 | 420,433 |
7,225,436 | ||
Nonequity Investment Instruments — 0.0% ^ | ||
OmniAb, Inc. * (a) | 9,804 | 44,608 |
OmniAb, Inc. ‡ * | 1,382 | — |
44,608 | ||
Non-life Insurance — 1.2% | ||
Employers Holdings, Inc. | 15,946 | 605,948 |
Essent Group Ltd. | 18,660 | 881,498 |
Horace Mann Educators Corp. | 4,418 | 140,183 |
NMI Holdings, Inc., Class A * | 11,395 | 311,653 |
INVESTMENTS | SHARES | VALUE ($) |
Non-life Insurance — continued | ||
Safety Insurance Group, Inc. | 4,039 | 303,612 |
Selective Insurance Group, Inc. | 11,153 | 1,161,139 |
Stewart Information Services Corp. | 25,521 | 1,114,502 |
4,518,535 | ||
Non-Renewable Energy — 6.5% | ||
Alpha Metallurgical Resources, Inc. | 5,463 | 1,201,641 |
Arch Resources, Inc. | 5,588 | 842,838 |
Archrock, Inc. | 101,367 | 1,284,320 |
Berry Corp. | 58,580 | 489,143 |
Cactus, Inc., Class A | 19,503 | 915,471 |
ChampionX Corp. | 30,769 | 947,685 |
Chord Energy Corp. | 6,287 | 1,039,367 |
Civitas Resources, Inc. (a) | 15,827 | 1,193,831 |
CNX Resources Corp. * (a) | 53,890 | 1,170,491 |
Comstock Resources, Inc. (a) | 65,482 | 825,073 |
CONSOL Energy, Inc. | 14,528 | 1,334,978 |
CVR Energy, Inc. (a) | 22,726 | 744,276 |
DMC Global, Inc. * | 7,809 | 147,981 |
Helix Energy Solutions Group, Inc. * | 104,975 | 1,028,755 |
Magnolia Oil & Gas Corp., Class A (a) | 44,672 | 1,002,886 |
Matador Resources Co. | 17,875 | 1,102,709 |
MRC Global, Inc. * | 15,003 | 157,681 |
Newpark Resources, Inc. * | 3,865 | 26,746 |
Northern Oil and Gas, Inc. | 14,767 | 566,167 |
NOW, Inc. * | 21,201 | 233,635 |
Par Pacific Holdings, Inc. * | 29,745 | 976,231 |
Patterson-UTI Energy, Inc. | 61,382 | 779,551 |
PBF Energy, Inc., Class A | 25,653 | 1,219,287 |
Permian Resources Corp. (a) | 91,264 | 1,329,716 |
RPC, Inc. (a) | 29,468 | 245,174 |
SandRidge Energy, Inc. | 35,214 | 558,142 |
SM Energy Co. | 24,446 | 985,663 |
Solaris Oilfield Infrastructure, Inc., Class A | 53,527 | 494,589 |
SunCoke Energy, Inc. | 97,170 | 924,087 |
Warrior Met Coal, Inc. | 23,041 | 1,122,788 |
World Kinect Corp. | 19,506 | 360,861 |
25,251,763 | ||
Personal Care, Drug & Grocery Stores — 2.5% | ||
ACCO Brands Corp. | 93,420 | 472,705 |
Chefs' Warehouse, Inc. (The) * | 11,161 | 212,394 |
Edgewell Personal Care Co. | 33,431 | 1,166,742 |
Energizer Holdings, Inc. | 38,049 | 1,201,587 |
Ingles Markets, Inc., Class A | 13,163 | 1,055,936 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 179 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Personal Care, Drug & Grocery Stores — continued | ||
Nu Skin Enterprises, Inc., Class A | 5,716 | 108,547 |
PetMed Express, Inc. (a) | 57,072 | 393,226 |
SpartanNash Co. | 37,706 | 848,008 |
Sprouts Farmers Market, Inc. * (a) | 33,428 | 1,404,644 |
United Natural Foods, Inc. * | 43,517 | 634,478 |
WD-40 Co. | 6,092 | 1,287,849 |
Weis Markets, Inc. | 11,001 | 716,165 |
9,502,281 | ||
Personal Goods — 1.2% | ||
elf Beauty, Inc. * | 8,538 | 790,875 |
Inter Parfums, Inc. | 4,081 | 518,736 |
Movado Group, Inc. | 18,586 | 517,806 |
Oxford Industries, Inc. | 10,528 | 888,563 |
Signet Jewelers Ltd. | 16,755 | 1,170,002 |
Steven Madden Ltd. | 20,398 | 668,850 |
4,554,832 | ||
Pharmaceuticals, Biotechnology & Marijuana Producers — 3.5% | ||
Alkermes plc * | 15,901 | 384,645 |
Amphastar Pharmaceuticals, Inc. * | 24,092 | 1,090,645 |
ANI Pharmaceuticals, Inc. * | 14,674 | 905,973 |
Arcturus Therapeutics Holdings, Inc. * | 14,112 | 269,539 |
Castle Biosciences, Inc. * | 14,965 | 233,753 |
Catalyst Pharmaceuticals, Inc. * | 93,435 | 1,159,528 |
Collegium Pharmaceutical, Inc. * | 35,538 | 773,307 |
Corcept Therapeutics, Inc. * (a) | 39,740 | 1,115,899 |
Dynavax Technologies Corp. * | 76,118 | 1,081,637 |
Eagle Pharmaceuticals, Inc. * | 2,144 | 29,437 |
Harmony Biosciences Holdings, Inc. * | 14,910 | 350,981 |
Innoviva, Inc. * (a) | 71,388 | 885,925 |
Ironwood Pharmaceuticals, Inc. * | 107,283 | 962,329 |
Ligand Pharmaceuticals, Inc. * | 12,165 | 636,108 |
Myriad Genetics, Inc. * | 17,983 | 280,175 |
OmniAb Operations, Inc. ‡ * | 1,382 | — |
Pacira BioSciences, Inc. * | 5,870 | 165,886 |
PDL BioPharma, Inc. ‡ * | 22,361 | 32,424 |
Prestige Consumer Healthcare, Inc. * | 22,385 | 1,328,774 |
Prothena Corp. plc (Ireland) * (a) | 17,636 | 643,009 |
Supernus Pharmaceuticals, Inc. * | 30,587 | 729,500 |
Vanda Pharmaceuticals, Inc. * | 36,653 | 160,540 |
Vir Biotechnology, Inc. * | 27,656 | 219,312 |
Xencor, Inc. * | 13,960 | 242,206 |
13,681,532 |
INVESTMENTS | SHARES | VALUE ($) |
Precious Metals & Mining — 0.2% | ||
Hecla Mining Co. | 205,458 | 836,214 |
Real Estate Investment & Services — 1.2% | ||
Anywhere Real Estate, Inc. * | 817 | 3,815 |
Douglas Elliman, Inc. | 66,233 | 117,233 |
eXp World Holdings, Inc. (a) | 63,468 | 842,220 |
Kennedy-Wilson Holdings, Inc. | 54,008 | 695,083 |
Marcus & Millichap, Inc. | 11,676 | 335,101 |
Newmark Group, Inc., Class A | 92,748 | 525,881 |
Opendoor Technologies, Inc. * (a) | 334,176 | 634,935 |
Redfin Corp. * (a) | 91,986 | 428,655 |
St. Joe Co. (The) | 21,194 | 988,488 |
4,571,411 | ||
Real Estate Investment Trusts — 11.1% | ||
Acadia Realty Trust | 46,821 | 670,477 |
Alexander & Baldwin, Inc. | 30,920 | 488,536 |
American Assets Trust, Inc. | 30,921 | 548,848 |
Apartment Investment and Management Co., Class A * | 84,077 | 492,691 |
Apple Hospitality REIT, Inc. (a) | 86,933 | 1,363,109 |
Ares Commercial Real Estate Corp. (a) | 88,473 | 811,297 |
Brandywine Realty Trust | 128,682 | 481,271 |
Broadstone Net Lease, Inc. | 67,266 | 951,814 |
CareTrust REIT, Inc. | 64,094 | 1,379,303 |
Community Healthcare Trust, Inc. | 13,399 | 384,149 |
COPT Defense Properties | 50,326 | 1,147,433 |
DiamondRock Hospitality Co. | 109,805 | 848,793 |
Douglas Emmett, Inc. (a) | 66,705 | 747,763 |
Easterly Government Properties, Inc. | 52,374 | 563,544 |
Empire State Realty Trust, Inc., Class A | 70,093 | 567,052 |
Equity Commonwealth | 46,237 | 875,729 |
Essential Properties Realty Trust, Inc. | 54,282 | 1,191,490 |
Four Corners Property Trust, Inc. | 48,679 | 1,036,863 |
GEO Group, Inc. (The) * (a) | 176,110 | 1,539,201 |
Getty Realty Corp. | 34,755 | 925,178 |
Global Net Lease, Inc. | 85,018 | 675,043 |
Independence Realty Trust, Inc. | 60,627 | 751,169 |
Innovative Industrial Properties, Inc. (a) | 14,922 | 1,071,847 |
Kite Realty Group Trust | 58,502 | 1,247,263 |
LTC Properties, Inc. | 38,099 | 1,204,309 |
LXP Industrial Trust | 88,261 | 698,144 |
Macerich Co. (The) | 110,667 | 1,075,683 |
National Health Investors, Inc. | 24,014 | 1,201,661 |
NETSTREIT Corp. (a) | 15,751 | 224,452 |
Paramount Group, Inc. (a) | 50,685 | 216,932 |
180 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Real Estate Investment Trusts — continued | ||
Pebblebrook Hotel Trust | 59,743 | 712,734 |
Phillips Edison & Co., Inc. (a) | 38,337 | 1,353,679 |
Physicians Realty Trust | 91,603 | 994,809 |
Piedmont Office Realty Trust, Inc., Class A | 68,109 | 354,848 |
PotlatchDeltic Corp. | 27,641 | 1,184,417 |
Retail Opportunity Investments Corp. | 60,249 | 707,323 |
RLJ Lodging Trust | 86,874 | 816,616 |
RPT Realty | 78,072 | 842,397 |
Ryman Hospitality Properties, Inc. | 15,299 | 1,309,594 |
Sabra Health Care REIT, Inc. | 101,570 | 1,385,415 |
Service Properties Trust | 57,665 | 418,071 |
SITE Centers Corp. | 97,634 | 1,138,412 |
SL Green Realty Corp. (a) | 16,811 | 492,394 |
Star Holdings * | 7,552 | 86,470 |
Summit Hotel Properties, Inc. | 42,887 | 241,883 |
Sunstone Hotel Investors, Inc. | 120,343 | 1,119,190 |
Tanger Factory Outlet Centers, Inc. (a) | 56,834 | 1,281,607 |
Terreno Realty Corp. | 21,674 | 1,154,791 |
Urban Edge Properties | 52,819 | 837,709 |
Veris Residential, Inc. | 18,299 | 245,024 |
Whitestone | 39,324 | 391,274 |
Xenia Hotels & Resorts, Inc. | 24,599 | 286,086 |
42,735,787 | ||
Renewable Energy — 0.4% | ||
Arcosa, Inc. | 16,718 | 1,154,712 |
REX American Resources Corp. * | 13,219 | 502,454 |
1,657,166 | ||
Retailers — 2.5% | ||
Abercrombie & Fitch Co., Class A * | 1,010 | 61,428 |
Academy Sports & Outdoors, Inc. | 17,363 | 778,557 |
America's Car-Mart, Inc. * | 1,587 | 106,297 |
Asbury Automotive Group, Inc. * | 2,051 | 392,500 |
Big 5 Sporting Goods Corp. (a) | 58,291 | 411,534 |
Buckle, Inc. (The) (a) | 32,111 | 1,084,389 |
Caleres, Inc. | 3,026 | 77,405 |
Dillard's, Inc., Class A (a) | 3,160 | 981,022 |
Genesco, Inc. * | 2,754 | 75,487 |
Global Industrial Co. | 2,454 | 78,405 |
Group 1 Automotive, Inc. | 4,865 | 1,227,585 |
Haverty Furniture Cos., Inc. | 27,158 | 707,466 |
Hibbett, Inc. | 12,275 | 565,509 |
ODP Corp. (The) * | 19,365 | 869,876 |
PriceSmart, Inc. | 3,189 | 199,281 |
INVESTMENTS | SHARES | VALUE ($) |
Retailers — continued | ||
Shoe Carnival, Inc. (a) | 35,437 | 810,799 |
Urban Outfitters, Inc. * | 23,961 | 829,530 |
Zumiez, Inc. * | 21,770 | 357,681 |
9,614,751 | ||
Software & Computer Services — 2.9% | ||
A10 Networks, Inc. | 24,633 | 267,761 |
Agilysys, Inc. * | 12,621 | 1,082,755 |
Appfolio, Inc., Class A * | 3,844 | 721,019 |
Blackbaud, Inc. * | 5,302 | 346,751 |
Cerence, Inc. * | 9,768 | 149,548 |
Consensus Cloud Solutions, Inc. * | 2,610 | 56,350 |
CSG Systems International, Inc. | 13,635 | 638,936 |
Mitek Systems, Inc. * (a) | 20,882 | 223,020 |
NetScout Systems, Inc. * | 29,814 | 650,840 |
OneSpan, Inc. * | 15,592 | 123,177 |
Perficient, Inc. * | 5,715 | 332,556 |
Progress Software Corp. | 21,382 | 1,098,607 |
Qualys, Inc. * | 8,468 | 1,295,181 |
Shutterstock, Inc. | 16,578 | 674,393 |
Simulations Plus, Inc. (a) | 13,436 | 473,888 |
SPS Commerce, Inc. * | 7,313 | 1,172,566 |
Veradigm, Inc. * | 56,412 | 744,074 |
Verint Systems, Inc. * | 8,789 | 165,321 |
Workiva, Inc. * | 11,972 | 1,042,641 |
11,259,384 | ||
Technology Hardware & Equipment — 6.2% | ||
Adeia, Inc. | 75,703 | 638,176 |
Advanced Energy Industries, Inc. | 11,174 | 975,043 |
Alpha & Omega Semiconductor Ltd. * | 10,836 | 257,030 |
Amkor Technology, Inc. | 46,768 | 975,581 |
Axcelis Technologies, Inc. * | 6,868 | 875,670 |
Benchmark Electronics, Inc. | 16,201 | 392,226 |
CEVA, Inc. * | 1,013 | 17,393 |
Cohu, Inc. * | 34,665 | 1,044,803 |
CTS Corp. | 19,217 | 718,908 |
Diodes, Inc. * | 14,043 | 913,919 |
Fabrinet (Thailand) * | 8,227 | 1,275,185 |
FormFactor, Inc. * | 29,597 | 1,002,746 |
Ichor Holdings Ltd. * | 13,462 | 326,588 |
Insight Enterprises, Inc. * | 8,288 | 1,187,670 |
Kulicke & Soffa Industries, Inc. (Singapore) | 25,112 | 1,044,910 |
MaxLinear, Inc. * | 25,880 | 393,376 |
Methode Electronics, Inc. | 20,347 | 465,336 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 181 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Technology Hardware & Equipment — continued | ||
Novanta, Inc. * (a) | 7,674 | 1,013,429 |
Onto Innovation, Inc. * | 9,678 | 1,087,517 |
PC Connection, Inc. | 8,038 | 430,676 |
Photronics, Inc. * | 54,099 | 993,258 |
Plexus Corp. * | 10,647 | 1,046,813 |
Power Integrations, Inc. | 13,746 | 953,010 |
Rambus, Inc. * | 22,812 | 1,239,376 |
Sanmina Corp. * | 14,219 | 723,321 |
ScanSource, Inc. * | 7,623 | 231,739 |
Super Micro Computer, Inc. * | 4,630 | 1,108,746 |
Synaptics, Inc. * | 2,379 | 199,027 |
TTM Technologies, Inc. * | 58,458 | 671,682 |
Ultra Clean Holdings, Inc. * | 33,708 | 804,273 |
Vishay Intertechnology, Inc. (a) | 47,419 | 1,054,599 |
24,062,026 | ||
Telecommunications Equipment — 2.5% | ||
ADTRAN Holdings, Inc. | 25,987 | 170,735 |
Aviat Networks, Inc. * | 16,968 | 453,046 |
Calix, Inc. * | 18,519 | 613,349 |
Cambium Networks Corp. * | 29,077 | 144,803 |
Clearfield, Inc. * (a) | 21,481 | 515,974 |
Comtech Telecommunications Corp. | 36,756 | 448,423 |
Digi International, Inc. * | 32,387 | 815,505 |
EchoStar Corp., Class A * | 75,756 | 1,049,978 |
Extreme Networks, Inc. * | 48,526 | 1,000,606 |
Harmonic, Inc. * | 108,568 | 1,171,449 |
Infinera Corp. * (a) | 193,877 | 568,060 |
InterDigital, Inc. | 15,213 | 1,144,778 |
Lightwave Logic, Inc. * (a) | 75,117 | 340,280 |
NETGEAR, Inc. * | 17,526 | 221,529 |
Ribbon Communications, Inc. * | 1,005 | 1,889 |
Viavi Solutions, Inc. * | 102,416 | 796,796 |
9,457,200 | ||
Telecommunications Service Providers — 2.6% | ||
8x8, Inc. * | 119,960 | 285,505 |
Cogent Communications Holdings, Inc. | 18,460 | 1,199,531 |
Consolidated Communications Holdings, Inc. * | 106,074 | 442,329 |
fuboTV, Inc. * (a) | 326,399 | 789,886 |
Globalstar, Inc. * (a) | 714,331 | 1,007,207 |
Gogo, Inc. * | 74,737 | 784,738 |
IDT Corp., Class B * | 45,440 | 1,274,592 |
Liberty Latin America Ltd., Class C (Puerto Rico) * | 113,723 | 779,002 |
Lumen Technologies, Inc. * (a) | 546,303 | 797,602 |
INVESTMENTS | SHARES | VALUE ($) |
Telecommunications Service Providers — continued | ||
Shenandoah Telecommunications Co. | 42,994 | 1,017,238 |
Telephone and Data Systems, Inc. | 61,378 | 1,116,466 |
WideOpenWest, Inc. * | 21,452 | 151,022 |
Xperi, Inc. * | 31,148 | 264,446 |
9,909,564 | ||
Tobacco — 0.7% | ||
Turning Point Brands, Inc. | 32,362 | 648,858 |
Universal Corp. | 19,216 | 864,720 |
Vector Group Ltd. | 95,525 | 981,997 |
2,495,575 | ||
Travel & Leisure — 0.5% | ||
Biglari Holdings, Inc., Class B * | 286 | 42,262 |
Bloomin' Brands, Inc. (a) | 36,262 | 846,355 |
Chuy's Holdings, Inc. * | 3,427 | 115,353 |
El Pollo Loco Holdings, Inc. * | 6,824 | 56,981 |
International Game Technology plc | 28,284 | 718,979 |
1,779,930 | ||
Waste & Disposal Services — 0.4% | ||
Casella Waste Systems, Inc., Class A * | 16,411 | 1,238,210 |
Vertex Energy, Inc. * (a) | 23,212 | 100,044 |
1,338,254 | ||
Total Common Stocks (Cost $418,351,646) | 385,648,317 | |
NO. OF RIGHTS | ||
Rights—0.0% ^ | ||
Pharmaceuticals, Biotechnology & Marijuana Producers — 0.0% ^ | ||
Achillion Pharmaceuticals, Inc. ‡ *(Cost $—) | 12,757 | 6,378 |
SHARES | ||
Short-Term Investments — 12.8% | ||
Investment Companies — 0.1% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (b) (c)(Cost $365,657) | 365,657 | 365,657 |
Investment of Cash Collateral from Securities Loaned — 12.7% | ||
JPMorgan Securities Lending Money Market Fund Class Agency SL Shares, 5.53% (b) (c) | 43,638,534 | 43,647,261 |
182 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Short-Term Investments — continued | ||
Investment of Cash Collateral from Securities Loaned — continued | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (b) (c) | 5,628,021 | 5,628,021 |
Total Investment of Cash Collateral from Securities Loaned (Cost $49,276,182) | 49,275,282 | |
Total Short-Term Investments (Cost $49,641,839) | 49,640,939 | |
Total Investments — 112.7% (Cost $467,993,485) | 435,295,634 | |
Liabilities in Excess of Other Assets — (12.7)% | (49,087,328 ) | |
NET ASSETS — 100.0% | 386,208,306 |
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 October 31, 2023. The total value of securities on loan at October 31, 2023 is $47,876,291. | |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(c) | The rate shown is the current yield as of October 31, 2023. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
Russell 2000 E-Mini Index | 4 | 12/15/2023 | USD | 333,600 | (22,124 ) |
Abbreviations | |
USD | United States Dollar |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 183 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — 99.9% | ||
Aerospace & Defense — 2.9% | ||
Axon Enterprise, Inc. * | 4,043 | 826,753 |
Boeing Co. (The) * | 2,219 | 414,554 |
BWX Technologies, Inc. | 3,771 | 280,110 |
Curtiss-Wright Corp. | 2,277 | 452,690 |
General Dynamics Corp. | 6,010 | 1,450,273 |
HEICO Corp. | 2,010 | 318,404 |
Howmet Aerospace, Inc. | 18,555 | 818,275 |
Huntington Ingalls Industries, Inc. | 1,561 | 343,139 |
Lockheed Martin Corp. | 4,581 | 2,082,706 |
Textron, Inc. | 8,786 | 667,736 |
TransDigm Group, Inc. * | 1,467 | 1,214,808 |
8,869,448 | ||
Automobiles & Parts — 0.7% | ||
BorgWarner, Inc. | 15,409 | 568,592 |
Gentex Corp. | 4,642 | 133,133 |
Genuine Parts Co. | 5,470 | 704,864 |
LKQ Corp. | 13,013 | 571,531 |
Phinia, Inc. | 3,024 | 78,261 |
2,056,381 | ||
Banks — 0.4% | ||
Bank OZK | 5,785 | 207,161 |
First Citizens BancShares, Inc., Class A | 598 | 825,682 |
1,032,843 | ||
Beverages — 1.6% | ||
Celsius Holdings, Inc. * | 4,085 | 621,287 |
Coca-Cola Co. (The) | 11,849 | 669,350 |
Constellation Brands, Inc., Class A | 2,879 | 674,118 |
Molson Coors Beverage Co., Class B | 11,113 | 641,998 |
Monster Beverage Corp. * | 22,178 | 1,133,296 |
PepsiCo, Inc. | 7,321 | 1,195,373 |
4,935,422 | ||
Chemicals — 0.7% | ||
Linde plc | 1,393 | 532,349 |
Olin Corp. | 10,833 | 462,786 |
Valvoline, Inc. | 18,215 | 540,439 |
Westlake Corp. | 4,972 | 573,570 |
2,109,144 | ||
Construction & Materials — 1.7% | ||
Acuity Brands, Inc. | 115 | 18,627 |
AECOM | 8,420 | 644,551 |
Builders FirstSource, Inc. * | 6,252 | 678,467 |
Eagle Materials, Inc. | 3,895 | 599,480 |
INVESTMENTS | SHARES | VALUE ($) |
Construction & Materials — continued | ||
EMCOR Group, Inc. | 3,587 | 741,254 |
Louisiana-Pacific Corp. | 4,637 | 237,785 |
MDU Resources Group, Inc. | 8,951 | 166,578 |
Owens Corning | 4,617 | 523,429 |
Quanta Services, Inc. | 5,145 | 859,832 |
Watsco, Inc. | 1,515 | 528,568 |
4,998,571 | ||
Consumer Services — 1.0% | ||
Avis Budget Group, Inc. * | 2,726 | 443,793 |
Copart, Inc. * | 26,861 | 1,168,991 |
Grand Canyon Education, Inc. * | 3,459 | 409,303 |
H&R Block, Inc. | 7,816 | 320,847 |
Rollins, Inc. | 14,002 | 526,615 |
U-Haul Holding Co. * | 323 | 15,866 |
2,885,415 | ||
Electricity — 1.3% | ||
Consolidated Edison, Inc. | 11,727 | 1,029,513 |
Exelon Corp. | 22,487 | 875,644 |
FirstEnergy Corp. | 12,160 | 432,896 |
OGE Energy Corp. | 4,995 | 170,829 |
Southern Co. (The) | 9,561 | 643,455 |
Vistra Corp. | 25,961 | 849,444 |
4,001,781 | ||
Electronic & Electrical Equipment — 0.6% | ||
Crane NXT Co. | 5,746 | 298,792 |
Hubbell, Inc. | 2,747 | 741,965 |
nVent Electric plc | 13,849 | 666,552 |
Pentair plc | 2,541 | 147,683 |
1,854,992 | ||
Finance & Credit Services — 0.1% | ||
Morningstar, Inc. | 12 | 3,039 |
SLM Corp. | 19,492 | 253,396 |
256,435 | ||
Food Producers — 2.1% | ||
Bunge Ltd. | 200 | 21,196 |
Freshpet, Inc. * | 4,604 | 264,270 |
Hershey Co. (The) | 4,589 | 859,749 |
Ingredion, Inc. | 5,994 | 560,918 |
J M Smucker Co. (The) | 5,683 | 646,953 |
Lamb Weston Holdings, Inc. | 8,852 | 794,910 |
Mondelez International, Inc., Class A | 28,840 | 1,909,496 |
184 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Food Producers — continued | ||
Post Holdings, Inc. * | 7,565 | 607,318 |
US Foods Holding Corp. * | 13,855 | 539,514 |
6,204,324 | ||
Gas, Water & Multi-utilities — 0.6% | ||
CenterPoint Energy, Inc. | 28,702 | 771,510 |
NiSource, Inc. | 26,665 | 670,891 |
Sempra | 6,664 | 466,680 |
1,909,081 | ||
General Industrials — 1.9% | ||
Eaton Corp. plc | 8,488 | 1,764,740 |
General Electric Co. | 21,220 | 2,305,129 |
Parker-Hannifin Corp. | 3,362 | 1,240,276 |
RPM International, Inc. | 4,067 | 371,195 |
Valmont Industries, Inc. | 851 | 167,570 |
5,848,910 | ||
Health Care Providers — 3.3% | ||
Acadia Healthcare Co., Inc. * | 2,612 | 192,008 |
Cigna Group (The) | 6,190 | 1,913,948 |
Encompass Health Corp. | 3,505 | 219,273 |
HCA Healthcare, Inc. | 2,525 | 571,004 |
Humana, Inc. | 1,583 | 829,001 |
IQVIA Holdings, Inc. * | 5,207 | 941,582 |
UnitedHealth Group, Inc. | 9,965 | 5,336,855 |
10,003,671 | ||
Household Goods & Home Construction — 0.9% | ||
DR Horton, Inc. | 4,654 | 485,878 |
PulteGroup, Inc. | 11,075 | 815,009 |
Tempur Sealy International, Inc. | 16,407 | 655,132 |
Toll Brothers, Inc. | 9,430 | 666,795 |
2,622,814 | ||
Industrial Engineering — 1.4% | ||
Caterpillar, Inc. | 9,197 | 2,078,982 |
Deere & Co. | 4,851 | 1,772,361 |
Lincoln Electric Holdings, Inc. | 2,526 | 441,545 |
4,292,888 | ||
Industrial Materials — 0.1% | ||
Hexcel Corp. | 3,454 | 213,872 |
Industrial Metals & Mining — 1.1% | ||
Nucor Corp. | 6,696 | 989,602 |
Reliance Steel & Aluminum Co. | 3,138 | 798,244 |
Southern Copper Corp. (Mexico) | 8,051 | 570,816 |
INVESTMENTS | SHARES | VALUE ($) |
Industrial Metals & Mining — continued | ||
Steel Dynamics, Inc. | 6,618 | 704,883 |
Timken Co. (The) | 3,309 | 228,718 |
3,292,263 | ||
Industrial Support Services — 2.1% | ||
American Express Co. | 6,408 | 935,760 |
Automatic Data Processing, Inc. | 1,857 | 405,235 |
Booz Allen Hamilton Holding Corp. | 7,551 | 905,591 |
Cintas Corp. | 2,537 | 1,286,564 |
Fair Isaac Corp. * | 1,077 | 911,002 |
FTI Consulting, Inc. * | 2,205 | 468,033 |
Paylocity Holding Corp. * | 648 | 116,251 |
Vestis Corp. * | 8,322 | 127,243 |
WW Grainger, Inc. | 1,468 | 1,071,391 |
6,227,070 | ||
Industrial Transportation — 2.1% | ||
Allison Transmission Holdings, Inc. | 9,546 | 481,309 |
CH Robinson Worldwide, Inc. | 1,203 | 98,441 |
JB Hunt Transport Services, Inc. | 4,458 | 766,196 |
Old Dominion Freight Line, Inc. | 2,903 | 1,093,444 |
PACCAR, Inc. | 15,115 | 1,247,441 |
Ryder System, Inc. | 4,911 | 479,019 |
Saia, Inc. * | 1,879 | 673,603 |
United Rentals, Inc. | 1,980 | 804,415 |
WillScot Mobile Mini Holdings Corp. * | 148 | 5,833 |
XPO, Inc. * | 10,274 | 778,872 |
6,428,573 | ||
Investment Banking & Brokerage Services — 4.2% | ||
Ameriprise Financial, Inc. | 3,174 | 998,445 |
Apollo Global Management, Inc. | 14,976 | 1,159,741 |
Ares Management Corp. | 8,657 | 853,494 |
Berkshire Hathaway, Inc., Class B * | 17,110 | 5,840,156 |
Evercore, Inc., Class A | 1,759 | 228,987 |
Interactive Brokers Group, Inc., Class A | 5,814 | 465,527 |
Jefferies Financial Group, Inc. | 18,615 | 599,031 |
LPL Financial Holdings, Inc. | 3,431 | 770,328 |
Morgan Stanley | 23,742 | 1,681,408 |
12,597,117 | ||
Life Insurance — 1.2% | ||
Aflac, Inc. | 13,841 | 1,081,120 |
Globe Life, Inc. | 5,649 | 657,318 |
Primerica, Inc. | 3,026 | 578,450 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 185 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Life Insurance — continued | ||
Principal Financial Group, Inc. | 6,020 | 407,434 |
Unum Group | 15,974 | 781,129 |
3,505,451 | ||
Media — 1.7% | ||
Interpublic Group of Cos., Inc. (The) | 21,311 | 605,232 |
Liberty Media Corp-Liberty Formula One, Class C * | 10,613 | 686,555 |
Netflix, Inc. * | 4,544 | 1,870,719 |
Nexstar Media Group, Inc. | 1,706 | 238,977 |
Omnicom Group, Inc. | 9,391 | 703,480 |
Trade Desk, Inc. (The), Class A * | 14,135 | 1,003,020 |
5,107,983 | ||
Medical Equipment & Services — 3.4% | ||
Agilent Technologies, Inc. | 8,460 | 874,510 |
Boston Scientific Corp. * | 26,145 | 1,338,362 |
Danaher Corp. | 11,540 | 2,215,911 |
Dexcom, Inc. * | 9,182 | 815,637 |
Inspire Medical Systems, Inc. * | 2,374 | 349,358 |
Penumbra, Inc. * | 2,457 | 469,656 |
Quest Diagnostics, Inc. | 5,784 | 752,498 |
Repligen Corp. * | 366 | 49,249 |
Thermo Fisher Scientific, Inc. | 6,675 | 2,968,840 |
Veralto Corp. * | 3,808 | 262,752 |
10,096,773 | ||
Non-life Insurance — 4.6% | ||
American Financial Group, Inc. | 3,746 | 409,663 |
Aon plc, Class A | 4,831 | 1,494,711 |
Arch Capital Group Ltd. * | 13,600 | 1,178,848 |
Arthur J Gallagher & Co. | 5,839 | 1,375,026 |
Assured Guaranty Ltd. | 3,112 | 194,189 |
Brown & Brown, Inc. | 5,840 | 405,413 |
Chubb Ltd. | 9,007 | 1,933,082 |
Everest Group Ltd. | 2,041 | 807,460 |
Marsh & McLennan Cos., Inc. | 10,416 | 1,975,394 |
Old Republic International Corp. | 14,638 | 400,789 |
Progressive Corp. (The) | 12,735 | 2,013,276 |
Reinsurance Group of America, Inc. | 5,127 | 766,333 |
RenaissanceRe Holdings Ltd. (Bermuda) | 2,890 | 634,615 |
Ryan Specialty Holdings, Inc. * | 7,763 | 335,362 |
13,924,161 | ||
Non-Renewable Energy — 4.4% | ||
Cheniere Energy, Inc. | 6,697 | 1,114,515 |
Chevron Corp. | 15,756 | 2,296,122 |
INVESTMENTS | SHARES | VALUE ($) |
Non-Renewable Energy — continued | ||
ConocoPhillips | 21,159 | 2,513,689 |
Exxon Mobil Corp. | 5,692 | 602,498 |
Hess Corp. | 6,616 | 955,350 |
HF Sinclair Corp. | 12,171 | 674,030 |
Marathon Oil Corp. | 25,887 | 706,974 |
Marathon Petroleum Corp. | 10,491 | 1,586,764 |
Schlumberger NV | 11,529 | 641,704 |
Targa Resources Corp. | 10,157 | 849,227 |
TechnipFMC plc (United Kingdom) | 26,957 | 580,115 |
Valero Energy Corp. | 6,632 | 842,264 |
13,363,252 | ||
Personal Care, Drug & Grocery Stores — 1.6% | ||
Casey's General Stores, Inc. | 1,394 | 379,043 |
Cencora, Inc. | 6,048 | 1,119,787 |
GCI Liberty Inc. ‡ * | 3,709 | — |
Kroger Co. (The) | 18,552 | 841,704 |
McKesson Corp. | 3,527 | 1,606,055 |
Procter & Gamble Co. (The) | 5,381 | 807,311 |
4,753,900 | ||
Personal Goods — 0.5% | ||
Deckers Outdoor Corp. * | 1,609 | 960,669 |
Tapestry, Inc. | 16,735 | 461,217 |
1,421,886 | ||
Pharmaceuticals, Biotechnology & Marijuana Producers — 5.9% | ||
AbbVie, Inc. | 29,409 | 4,151,963 |
Alnylam Pharmaceuticals, Inc. * | 4,142 | 628,755 |
Cardinal Health, Inc. | 10,836 | 986,076 |
Eli Lilly & Co. | 11,804 | 6,538,590 |
Exact Sciences Corp. * | 10,300 | 634,377 |
Karuna Therapeutics, Inc. * | 317 | 52,815 |
Merck & Co., Inc. | 8,293 | 851,691 |
Roivant Sciences Ltd. * | 44,651 | 385,785 |
Seagen, Inc. * | 5,141 | 1,094,056 |
United Therapeutics Corp. * | 2,690 | 599,493 |
Vertex Pharmaceuticals, Inc. * | 5,507 | 1,994,140 |
17,917,741 | ||
Real Estate Investment & Services — 0.4% | ||
CBRE Group, Inc., Class A * | 11,464 | 794,914 |
Zillow Group, Inc., Class C * | 14,802 | 536,572 |
1,331,486 | ||
Real Estate Investment Trusts — 2.1% | ||
CubeSmart | 11,306 | 385,421 |
186 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Real Estate Investment Trusts — continued | ||
Equinix, Inc. | 998 | 728,181 |
Gaming and Leisure Properties, Inc. | 8,584 | 389,628 |
Invitation Homes, Inc. | 19,941 | 592,048 |
Iron Mountain, Inc. | 14,474 | 854,979 |
Prologis, Inc. | 16,601 | 1,672,551 |
STAG Industrial, Inc. | 7,894 | 262,239 |
VICI Properties, Inc. | 22,744 | 634,557 |
Weyerhaeuser Co. | 27,404 | 786,221 |
WP Carey, Inc. | 1,949 | 104,564 |
6,410,389 | ||
Renewable Energy — 0.2% | ||
First Solar, Inc. * | 4,868 | 693,447 |
Retailers — 5.8% | ||
AutoNation, Inc. * | 4,529 | 589,132 |
AutoZone, Inc. * | 516 | 1,278,199 |
Costco Wholesale Corp. | 7,522 | 4,155,454 |
Dick's Sporting Goods, Inc. | 5,256 | 562,129 |
GameStop Corp., Class A * (a) | 2,277 | 31,354 |
Home Depot, Inc. (The) | 15,931 | 4,535,397 |
Lowe's Cos., Inc. | 5,841 | 1,113,119 |
O'Reilly Automotive, Inc. * | 1,540 | 1,432,878 |
Penske Automotive Group, Inc. (a) | 4,264 | 610,093 |
TJX Cos., Inc. (The) | 23,532 | 2,072,463 |
Tractor Supply Co. | 2,390 | 460,219 |
Ulta Beauty, Inc. * | 1,917 | 730,971 |
17,571,408 | ||
Software & Computer Services — 17.9% | ||
Adobe, Inc. * | 7,697 | 4,095,266 |
Amdocs Ltd. | 8,265 | 662,522 |
ANSYS, Inc. * | 3,154 | 877,632 |
Bentley Systems, Inc., Class B | 12,199 | 593,359 |
CACI International, Inc., Class A * | 2,290 | 743,701 |
Cadence Design Systems, Inc. * | 6,518 | 1,563,342 |
Ceridian HCM Holding, Inc. * | 10,188 | 652,134 |
Cloudflare, Inc., Class A * | 13,122 | 743,886 |
Confluent, Inc., Class A * | 11,291 | 326,423 |
Dolby Laboratories, Inc., Class A | 3,764 | 304,658 |
DoubleVerify Holdings, Inc. * | 10,677 | 297,141 |
Dynatrace, Inc. * | 15,381 | 687,685 |
Fortinet, Inc. * | 18,437 | 1,054,043 |
Gartner, Inc. * | 2,923 | 970,553 |
GoDaddy, Inc., Class A * | 164 | 12,010 |
Hewlett Packard Enterprise Co. | 52,553 | 808,265 |
INVESTMENTS | SHARES | VALUE ($) |
Software & Computer Services — continued | ||
HubSpot, Inc. * | 1,850 | 783,975 |
International Business Machines Corp. | 17,405 | 2,517,459 |
KBR, Inc. | 12,516 | 727,806 |
Kyndryl Holdings, Inc. * | 14,320 | 209,502 |
Manhattan Associates, Inc. * | 4,146 | 808,387 |
Meta Platforms, Inc., Class A * | 22,200 | 6,688,194 |
Microsoft Corp. | 19,149 | 6,474,468 |
MongoDB, Inc. * | 1,808 | 623,019 |
New Relic, Inc. * | 8,530 | 739,295 |
Nutanix, Inc., Class A * | 22,133 | 800,993 |
Oracle Corp. | 27,132 | 2,805,449 |
Palantir Technologies, Inc., Class A * | 69,769 | 1,032,581 |
Palo Alto Networks, Inc. * | 7,004 | 1,702,112 |
Pinterest, Inc., Class A * | 6,691 | 199,927 |
Procore Technologies, Inc. * | 9,100 | 555,919 |
PTC, Inc. * | 6,112 | 858,247 |
Roper Technologies, Inc. | 2,811 | 1,373,370 |
Salesforce, Inc. * | 16,433 | 3,300,239 |
Science Applications International Corp. | 6,310 | 689,304 |
ServiceNow, Inc. * | 4,012 | 2,334,382 |
Synopsys, Inc. * | 3,573 | 1,677,309 |
VeriSign, Inc. * | 3,226 | 644,103 |
VMware, Inc., Class A * | 7,056 | 1,027,707 |
Workday, Inc., Class A * | 5,450 | 1,153,820 |
54,120,187 | ||
Technology Hardware & Equipment — 12.8% | ||
Allegro MicroSystems, Inc. (Japan) * | 18,336 | 476,002 |
Amphenol Corp., Class A | 15,673 | 1,262,460 |
Analog Devices, Inc. | 10,620 | 1,670,845 |
Apple, Inc. | 34,390 | 5,872,780 |
Applied Materials, Inc. | 16,311 | 2,158,761 |
Avnet, Inc. | 14,299 | 662,473 |
Broadcom, Inc. | 6,508 | 5,475,636 |
CDW Corp. | 5,002 | 1,002,401 |
Cirrus Logic, Inc. * | 6,292 | 421,123 |
Corning, Inc. | 4,146 | 110,947 |
Jabil, Inc. | 7,506 | 921,737 |
KLA Corp. | 3,260 | 1,531,222 |
Lam Research Corp. | 2,852 | 1,677,603 |
Lattice Semiconductor Corp. * | 8,757 | 486,977 |
Marvell Technology, Inc. | 22,690 | 1,071,422 |
Microchip Technology, Inc. | 14,650 | 1,044,398 |
Monolithic Power Systems, Inc. | 1,882 | 831,355 |
NetApp, Inc. | 11,155 | 811,861 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 187 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Technology Hardware & Equipment — continued | ||
NVIDIA Corp. | 13,561 | 5,530,176 |
ON Semiconductor Corp. * | 12,719 | 796,718 |
Pure Storage, Inc., Class A * | 20,802 | 703,316 |
TD SYNNEX Corp. | 4,365 | 400,183 |
Teradyne, Inc. | 8,065 | 671,572 |
Texas Instruments, Inc. | 16,476 | 2,339,757 |
Vertiv Holdings Co. | 21,399 | 840,339 |
38,772,064 | ||
Telecommunications Equipment — 2.0% | ||
Arista Networks, Inc. * | 6,873 | 1,377,143 |
Cisco Systems, Inc. | 51,463 | 2,682,766 |
Juniper Networks, Inc. | 24,866 | 669,393 |
Motorola Solutions, Inc. | 4,607 | 1,282,865 |
6,012,167 | ||
Telecommunications Service Providers — 0.4% | ||
AT&T, Inc. | 49,689 | 765,211 |
T-Mobile US, Inc. * | 3,153 | 453,590 |
1,218,801 | ||
Travel & Leisure — 3.3% | ||
Aramark | 17,069 | 459,668 |
Booking Holdings, Inc. * | 646 | 1,802,056 |
Boyd Gaming Corp. | 10,004 | 552,721 |
Chipotle Mexican Grill, Inc. * | 694 | 1,347,887 |
Choice Hotels International, Inc. | 326 | 36,023 |
Hilton Worldwide Holdings, Inc. | 7,808 | 1,183,146 |
Hyatt Hotels Corp., Class A | 4,678 | 479,214 |
Las Vegas Sands Corp. | 3,840 | 182,246 |
McDonald's Corp. | 9,779 | 2,563,760 |
Royal Caribbean Cruises Ltd. * | 10,072 | 853,401 |
Wingstop, Inc. | 3,275 | 598,572 |
10,058,694 | ||
Waste & Disposal Services — 0.9% | ||
Republic Services, Inc. | 7,272 | 1,079,819 |
Waste Management, Inc. | 9,651 | 1,585,949 |
2,665,768 | ||
Total Common Stocks (Cost $288,196,551) | 301,586,573 |
INVESTMENTS | SHARES | VALUE ($) |
Short-Term Investments — 0.2% | ||
Investment Companies — 0.0% ^ | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (b) (c)(Cost $154,302) | 154,302 | 154,302 |
Investment of Cash Collateral from Securities Loaned — 0.2% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (b) (c)(Cost $571,988) | 571,988 | 571,988 |
Total Short-Term Investments (Cost $726,290) | 726,290 | |
Total Investments — 100.1% (Cost $288,922,841) | 302,312,863 | |
Liabilities in Excess of Other Assets — (0.1)% | (386,277 ) | |
NET ASSETS — 100.0% | 301,926,586 |
Percentages indicated are based on net assets. |
^ | 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 October 31, 2023. The total value of securities on loan at October 31, 2023 is $562,229. | |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(c) | The rate shown is the current yield as of October 31, 2023. |
188 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
Micro E-mini S&P 500 Index | 7 | 12/15/2023 | USD | 147,350 | (1,950 ) |
Abbreviations | |
USD | United States Dollar |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 189 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — 99.8% | ||
Aerospace & Defense — 0.6% | ||
Lockheed Martin Corp. | 34,756 | 15,801,468 |
Automobiles & Parts — 0.5% | ||
Gentex Corp. | 119,369 | 3,423,503 |
Genuine Parts Co. | 41,269 | 5,317,924 |
LKQ Corp. | 98,634 | 4,332,005 |
13,073,432 | ||
Banks — 0.1% | ||
Commerce Bancshares, Inc. | 78,859 | 3,458,756 |
Beverages — 0.9% | ||
Brown-Forman Corp., Class B | 1,958 | 109,961 |
Coca-Cola Co. (The) | 389,743 | 22,016,582 |
22,126,543 | ||
Chemicals — 1.4% | ||
CF Industries Holdings, Inc. | 68,613 | 5,473,945 |
Linde plc | 64,036 | 24,471,998 |
Olin Corp. | 74,885 | 3,199,087 |
33,145,030 | ||
Construction & Materials — 1.0% | ||
A O Smith Corp. | 48,130 | 3,357,549 |
Acuity Brands, Inc. | 9,878 | 1,599,940 |
Advanced Drainage Systems, Inc. | 34,573 | 3,693,433 |
Builders FirstSource, Inc. * | 33,468 | 3,631,947 |
Eagle Materials, Inc. (a) | 16,298 | 2,508,425 |
Fortune Brands Innovations, Inc. | 55,696 | 3,107,837 |
Watsco, Inc. (a) | 16,093 | 5,614,687 |
23,513,818 | ||
Consumer Services — 1.4% | ||
Copart, Inc. * | 209,287 | 9,108,170 |
eBay, Inc. | 175,210 | 6,873,488 |
Grand Canyon Education, Inc. * | 44,592 | 5,276,572 |
H&R Block, Inc. | 146,626 | 6,018,997 |
Rollins, Inc. | 145,455 | 5,470,563 |
32,747,790 | ||
Electricity — 1.0% | ||
Consolidated Edison, Inc. | 83,438 | 7,325,022 |
Evergy, Inc. | 71,368 | 3,507,024 |
Hawaiian Electric Industries, Inc. (a) | 59,190 | 768,286 |
IDACORP, Inc. | 22,183 | 2,100,952 |
NextEra Energy, Inc. | 77,325 | 4,508,047 |
OGE Energy Corp. | 162,258 | 5,549,224 |
23,758,555 |
INVESTMENTS | SHARES | VALUE ($) |
Electronic & Electrical Equipment — 0.8% | ||
Donaldson Co., Inc. | 67,231 | 3,876,539 |
IDEX Corp. | 27,453 | 5,254,779 |
Keysight Technologies, Inc. * | 47,900 | 5,846,195 |
Mettler-Toledo International, Inc. * | 5,674 | 5,590,025 |
20,567,538 | ||
Finance & Credit Services — 1.4% | ||
FactSet Research Systems, Inc. | 15,696 | 6,778,946 |
Moody's Corp. | 32,061 | 9,874,788 |
S&P Global, Inc. | 48,130 | 16,812,290 |
33,466,024 | ||
Food Producers — 0.3% | ||
General Mills, Inc. | 28,278 | 1,844,857 |
Hershey Co. (The) | 30,941 | 5,796,796 |
7,641,653 | ||
Gas, Water & Multi-utilities — 0.7% | ||
Atmos Energy Corp. | 37,827 | 4,072,455 |
National Fuel Gas Co. | 88,412 | 4,504,591 |
UGI Corp. | 54,767 | 1,139,154 |
WEC Energy Group, Inc. | 80,203 | 6,527,722 |
16,243,922 | ||
General Industrials — 0.9% | ||
3M Co. | 81,841 | 7,443,439 |
Honeywell International, Inc. | 10,463 | 1,917,450 |
Illinois Tool Works, Inc. | 50,444 | 11,305,509 |
20,666,398 | ||
Health Care Providers — 0.4% | ||
Chemed Corp. | 11,764 | 6,619,015 |
DaVita, Inc. * (a) | 41,450 | 3,201,183 |
Premier, Inc., Class A | 33,155 | 637,239 |
10,457,437 | ||
Household Goods & Home Construction — 0.2% | ||
NVR, Inc. * | 1,130 | 6,116,261 |
Industrial Engineering — 0.6% | ||
Graco, Inc. | 74,527 | 5,541,082 |
Lincoln Electric Holdings, Inc. | 29,878 | 5,222,674 |
Nordson Corp. | 12,940 | 2,750,915 |
13,514,671 | ||
Industrial Metals & Mining — 0.5% | ||
Fastenal Co. | 33,329 | 1,944,414 |
190 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Industrial Metals & Mining — continued | ||
Reliance Steel & Aluminum Co. | 23,601 | 6,003,622 |
Southern Copper Corp. (Mexico) | 64,902 | 4,601,552 |
12,549,588 | ||
Industrial Support Services — 7.1% | ||
Accenture plc, Class A | 82,105 | 24,392,574 |
Automatic Data Processing, Inc. | 61,297 | 13,376,231 |
Cintas Corp. | 19,801 | 10,041,483 |
Jack Henry & Associates, Inc. | 25,797 | 3,637,119 |
Mastercard, Inc., Class A | 106,919 | 40,238,966 |
MSC Industrial Direct Co., Inc., Class A | 20,568 | 1,948,818 |
Paychex, Inc. | 78,652 | 8,734,305 |
Verisk Analytics, Inc. | 37,431 | 8,510,312 |
Visa, Inc., Class A (a) | 203,158 | 47,762,446 |
Western Union Co. (The) | 370,531 | 4,183,295 |
WW Grainger, Inc. | 11,084 | 8,089,436 |
170,914,985 | ||
Industrial Transportation — 1.7% | ||
Allison Transmission Holdings, Inc. | 64,656 | 3,259,956 |
CH Robinson Worldwide, Inc. | 65,364 | 5,348,736 |
Expeditors International of Washington, Inc. | 61,704 | 6,741,162 |
Landstar System, Inc. | 30,675 | 5,054,626 |
Union Pacific Corp. | 90,079 | 18,701,301 |
United Parcel Service, Inc., Class B | 9,403 | 1,328,174 |
40,433,955 | ||
Investment Banking & Brokerage Services — 3.9% | ||
Ameriprise Financial, Inc. | 20,994 | 6,604,083 |
Berkshire Hathaway, Inc., Class B * | 136,263 | 46,510,650 |
BlackRock, Inc. | 19,388 | 11,870,885 |
Broadridge Financial Solutions, Inc. | 40,835 | 6,968,084 |
Intercontinental Exchange, Inc. | 77,708 | 8,348,947 |
MarketAxess Holdings, Inc. | 7,713 | 1,648,654 |
Nasdaq, Inc. | 120,395 | 5,971,592 |
SEI Investments Co. | 87,246 | 4,681,620 |
Virtu Financial, Inc., Class A | 66,089 | 1,221,986 |
93,826,501 | ||
Leisure Goods — 0.6% | ||
Electronic Arts, Inc. | 73,885 | 9,146,224 |
Pool Corp. | 18,307 | 5,780,801 |
14,927,025 | ||
Life Insurance — 0.9% | ||
Aflac, Inc. | 137,114 | 10,709,975 |
INVESTMENTS | SHARES | VALUE ($) |
Life Insurance — continued | ||
Globe Life, Inc. | 46,754 | 5,440,295 |
Principal Financial Group, Inc. | 74,859 | 5,066,457 |
21,216,727 | ||
Media — 0.1% | ||
Sirius XM Holdings, Inc. (a) | 816,104 | 3,492,925 |
Medical Equipment & Services — 1.6% | ||
Abbott Laboratories | 154,795 | 14,635,867 |
Agilent Technologies, Inc. | 21,801 | 2,253,569 |
Bio-Techne Corp. | 15,506 | 847,093 |
Edwards Lifesciences Corp. * | 115,601 | 7,366,096 |
Enovis Corp. * | 13,751 | 631,171 |
Hologic, Inc. * | 76,652 | 5,072,063 |
IDEXX Laboratories, Inc. * | 18,440 | 7,366,227 |
38,172,086 | ||
Non-life Insurance — 3.8% | ||
American Financial Group, Inc. | 28,799 | 3,149,459 |
Aon plc, Class A | 38,293 | 11,847,854 |
Arch Capital Group Ltd. * | 104,894 | 9,092,212 |
Arthur J Gallagher & Co. | 46,299 | 10,902,951 |
Brown & Brown, Inc. | 95,073 | 6,599,968 |
Chubb Ltd. | 48,238 | 10,352,839 |
Fidelity National Financial, Inc. | 97,014 | 3,792,277 |
Marsh & McLennan Cos., Inc. | 82,208 | 15,590,747 |
Progressive Corp. (The) | 28,102 | 4,442,645 |
Travelers Cos., Inc. (The) | 50,670 | 8,484,185 |
WR Berkley Corp. | 90,799 | 6,121,669 |
90,376,806 | ||
Non-Renewable Energy — 4.5% | ||
Antero Midstream Corp. | 68,663 | 847,301 |
APA Corp. | 114,234 | 4,537,374 |
Chevron Corp. | 182,546 | 26,602,429 |
ConocoPhillips | 104,016 | 12,357,101 |
Coterra Energy, Inc. | 266,349 | 7,324,598 |
EOG Resources, Inc. | 82,922 | 10,468,902 |
Exxon Mobil Corp. | 336,369 | 35,604,659 |
Pioneer Natural Resources Co. | 30,628 | 7,320,092 |
Texas Pacific Land Corp. (a) | 2,183 | 4,029,709 |
109,092,165 | ||
Personal Care, Drug & Grocery Stores — 3.5% | ||
Church & Dwight Co., Inc. | 44,101 | 4,010,545 |
Clorox Co. (The) | 47,147 | 5,549,202 |
Colgate-Palmolive Co. | 146,648 | 11,016,197 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 191 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Personal Care, Drug & Grocery Stores — continued | ||
Kimberly-Clark Corp. | 78,625 | 9,406,695 |
McKesson Corp. | 27,708 | 12,617,115 |
Procter & Gamble Co. (The) | 274,234 | 41,143,327 |
83,743,081 | ||
Personal Goods — 0.6% | ||
Carter's, Inc. | 36,392 | 2,444,087 |
Deckers Outdoor Corp. * | 12,638 | 7,545,644 |
Tapestry, Inc. | 124,677 | 3,436,098 |
13,425,829 | ||
Pharmaceuticals, Biotechnology & Marijuana Producers — 10.7% | ||
AbbVie, Inc. | 233,624 | 32,983,036 |
Amgen, Inc. | 77,005 | 19,690,178 |
Biogen, Inc. * | 22,590 | 5,366,029 |
Bristol-Myers Squibb Co. | 320,269 | 16,503,462 |
Eli Lilly & Co. | 91,378 | 50,617,015 |
Gilead Sciences, Inc. | 208,385 | 16,366,558 |
Incyte Corp. * | 100,977 | 5,445,690 |
Johnson & Johnson (a) | 238,032 | 35,309,667 |
Medpace Holdings, Inc. * | 12,987 | 3,151,555 |
Merck & Co., Inc. | 324,926 | 33,369,900 |
Regeneron Pharmaceuticals, Inc. * | 13,873 | 10,819,414 |
Vertex Pharmaceuticals, Inc. * | 42,600 | 15,425,886 |
Zoetis, Inc. (a) | 70,909 | 11,132,713 |
256,181,103 | ||
Precious Metals & Mining — 0.1% | ||
Newmont Corp. | 41,938 | 1,571,417 |
Real Estate Investment & Services — 0.3% | ||
CBRE Group, Inc., Class A * | 16,227 | 1,125,180 |
CoStar Group, Inc. * | 75,738 | 5,559,927 |
6,685,107 | ||
Real Estate Investment Trusts — 2.4% | ||
Camden Property Trust | 29,016 | 2,462,878 |
Crown Castle, Inc. | 38,741 | 3,602,138 |
Equity LifeStyle Properties, Inc. | 63,981 | 4,209,950 |
Equity Residential | 38,821 | 2,147,966 |
Extra Space Storage, Inc. | 51,585 | 5,343,690 |
Gaming and Leisure Properties, Inc. | 43,549 | 1,976,689 |
Host Hotels & Resorts, Inc. | 406,347 | 6,290,252 |
Lamar Advertising Co., Class A | 66,492 | 5,470,297 |
Mid-America Apartment Communities, Inc. | 33,185 | 3,920,808 |
Public Storage | 36,447 | 8,700,263 |
Rayonier, Inc. | 22,988 | 580,217 |
INVESTMENTS | SHARES | VALUE ($) |
Real Estate Investment Trusts — continued | ||
Simon Property Group, Inc. | 53,530 | 5,882,412 |
Weyerhaeuser Co. | 225,748 | 6,476,710 |
57,064,270 | ||
Retailers — 5.6% | ||
AutoZone, Inc. * | 4,128 | 10,225,593 |
Best Buy Co., Inc. | 54,553 | 3,645,231 |
Costco Wholesale Corp. | 59,393 | 32,811,069 |
Home Depot, Inc. (The) | 114,127 | 32,490,816 |
Lowe's Cos., Inc. | 5,813 | 1,107,783 |
O'Reilly Automotive, Inc. * | 12,229 | 11,378,351 |
Ross Stores, Inc. | 80,445 | 9,329,207 |
TJX Cos., Inc. (The) | 185,647 | 16,349,931 |
Tractor Supply Co. (a) | 13,554 | 2,609,958 |
Ulta Beauty, Inc. * | 14,394 | 5,488,576 |
Walmart, Inc. | 27,707 | 4,527,601 |
Williams-Sonoma, Inc. | 35,171 | 5,284,091 |
135,248,207 | ||
Software & Computer Services — 19.6% | ||
Adobe, Inc. * | 60,768 | 32,332,222 |
Akamai Technologies, Inc. * | 66,555 | 6,877,128 |
Alphabet, Inc., Class A * | 382,756 | 47,492,364 |
Amdocs Ltd. | 64,541 | 5,173,607 |
ANSYS, Inc. * | 17,080 | 4,752,681 |
Aspen Technology, Inc. * (a) | 10,225 | 1,817,494 |
Atlassian Corp., Class A * | 41,683 | 7,529,617 |
Autodesk, Inc. * | 47,771 | 9,440,983 |
Bentley Systems, Inc., Class B | 71,517 | 3,478,587 |
Cadence Design Systems, Inc. * | 50,882 | 12,204,048 |
Cognizant Technology Solutions Corp., Class A | 129,518 | 8,350,025 |
Crowdstrike Holdings, Inc., Class A * | 38,722 | 6,844,888 |
Datadog, Inc., Class A * | 54,699 | 4,456,328 |
DocuSign, Inc. * | 92,484 | 3,595,778 |
Dolby Laboratories, Inc., Class A | 63,128 | 5,109,580 |
DoorDash, Inc., Class A * | 61,955 | 4,643,527 |
DoubleVerify Holdings, Inc. * | 92,295 | 2,568,570 |
Dropbox, Inc., Class A * (a) | 215,335 | 5,663,311 |
Dun & Bradstreet Holdings, Inc. | 157,349 | 1,378,377 |
Dynatrace, Inc. * | 120,527 | 5,388,762 |
EPAM Systems, Inc. * | 17,291 | 3,762,003 |
F5, Inc. * | 38,324 | 5,809,535 |
Fortinet, Inc. * | 159,173 | 9,099,920 |
Gartner, Inc. * | 22,756 | 7,555,902 |
GoDaddy, Inc., Class A * | 51,589 | 3,777,862 |
192 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Software & Computer Services — continued | ||
HubSpot, Inc. * | 9,358 | 3,965,640 |
International Business Machines Corp. | 108,301 | 15,664,657 |
Intuit, Inc. | 40,177 | 19,885,606 |
Manhattan Associates, Inc. * | 32,739 | 6,383,450 |
Meta Platforms, Inc., Class A * | 175,205 | 52,784,010 |
Microsoft Corp. | 149,535 | 50,559,279 |
Palo Alto Networks, Inc. * (a) | 55,323 | 13,444,595 |
Paycom Software, Inc. | 20,408 | 4,999,348 |
Pinterest, Inc., Class A * | 162,260 | 4,848,329 |
RingCentral, Inc., Class A * | 90,165 | 2,396,586 |
Salesforce, Inc. * | 109,359 | 21,962,568 |
Science Applications International Corp. | 27,384 | 2,991,428 |
ServiceNow, Inc. * | 31,705 | 18,447,554 |
Snowflake, Inc., Class A * | 14,698 | 2,133,121 |
Splunk, Inc. * | 40,564 | 5,969,398 |
Synopsys, Inc. * | 28,371 | 13,318,482 |
Teradata Corp. * | 112,035 | 4,786,135 |
Tyler Technologies, Inc. * | 1,821 | 679,051 |
VeriSign, Inc. * | 35,475 | 7,082,939 |
VMware, Inc., Class A * | 58,411 | 8,507,562 |
469,912,837 | ||
Technology Hardware & Equipment — 11.3% | ||
Allegro MicroSystems, Inc. (Japan) * | 69,969 | 1,816,395 |
Amphenol Corp., Class A | 90,741 | 7,309,187 |
Analog Devices, Inc. | 81,384 | 12,804,145 |
Apple, Inc. | 274,083 | 46,805,154 |
Applied Materials, Inc. | 128,708 | 17,034,504 |
Broadcom, Inc. | 51,414 | 43,258,197 |
CDW Corp. | 27,780 | 5,567,112 |
Cirrus Logic, Inc. * | 37,166 | 2,487,520 |
IPG Photonics Corp. * | 27,212 | 2,337,511 |
Jabil, Inc. (a) | 38,764 | 4,760,219 |
KLA Corp. | 25,547 | 11,999,426 |
Lam Research Corp. | 18,506 | 10,885,599 |
Lattice Semiconductor Corp. * (a) | 68,794 | 3,825,634 |
Microchip Technology, Inc. | 123,558 | 8,808,450 |
NetApp, Inc. | 56,305 | 4,097,878 |
NVIDIA Corp. | 107,042 | 43,651,728 |
ON Semiconductor Corp. * | 70,902 | 4,441,301 |
Pure Storage, Inc., Class A * | 162,002 | 5,477,288 |
Qorvo, Inc. * | 56,590 | 4,947,098 |
Skyworks Solutions, Inc. | 65,193 | 5,654,841 |
INVESTMENTS | SHARES | VALUE ($) |
Technology Hardware & Equipment — continued | ||
Teradyne, Inc. (a) | 60,829 | 5,065,231 |
Texas Instruments, Inc. | 128,667 | 18,272,001 |
271,306,419 | ||
Telecommunications Equipment — 1.3% | ||
Cisco Systems, Inc. | 513,450 | 26,766,149 |
Motorola Solutions, Inc. | 16,633 | 4,631,625 |
Ubiquiti, Inc. (a) | 2,116 | 256,988 |
31,654,762 | ||
Telecommunications Service Providers — 1.0% | ||
AT&T, Inc. | 387,618 | 5,969,317 |
Charter Communications, Inc., Class A * | 6,657 | 2,681,440 |
Verizon Communications, Inc. | 462,642 | 16,252,613 |
24,903,370 | ||
Tobacco — 0.6% | ||
Altria Group, Inc. | 318,696 | 12,802,018 |
Philip Morris International, Inc. | 12,634 | 1,126,448 |
13,928,466 | ||
Travel & Leisure — 4.8% | ||
Airbnb, Inc., Class A * | 74,975 | 8,868,793 |
Booking Holdings, Inc. * | 5,836 | 16,279,872 |
Boyd Gaming Corp. | 48,240 | 2,665,260 |
Choice Hotels International, Inc. (a) | 40,151 | 4,436,686 |
Darden Restaurants, Inc. | 43,547 | 6,337,395 |
Expedia Group, Inc. * | 52,552 | 5,007,680 |
Live Nation Entertainment, Inc. * | 63,220 | 5,058,864 |
Madison Square Garden Sports Corp. * (a) | 28,497 | 4,791,486 |
Marriott International, Inc., Class A | 53,118 | 10,015,930 |
McDonald's Corp. | 98,522 | 25,829,513 |
Starbucks Corp. | 173,560 | 16,009,174 |
Wyndham Hotels & Resorts, Inc. | 34,173 | 2,474,125 |
Yum! Brands, Inc. | 66,655 | 8,055,923 |
115,830,701 | ||
Waste & Disposal Services — 1.1% | ||
Clean Harbors, Inc. * | 27,214 | 4,181,976 |
Republic Services, Inc. | 56,921 | 8,452,199 |
Waste Management, Inc. | 78,815 | 12,951,669 |
25,585,844 | ||
Total Common Stocks (Cost $2,407,426,490) | 2,398,343,472 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 193 |
INVESTMENTS | SHARES | VALUE ($) |
Short-Term Investments — 4.1% | ||
Investment Companies — 0.1% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (b) (c)(Cost $1,995,808) | 1,995,808 | 1,995,808 |
Investment of Cash Collateral from Securities Loaned — 4.0% | ||
JPMorgan Securities Lending Money Market Fund Class Agency SL Shares, 5.53% (b) (c) | 84,495,319 | 84,512,218 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (b) (c) | 10,755,358 | 10,755,358 |
Total Investment of Cash Collateral from Securities Loaned (Cost $95,271,375) | 95,267,576 | |
Total Short-Term Investments (Cost $97,267,183) | 97,263,384 | |
Total Investments — 103.9% (Cost $2,504,693,673) | 2,495,606,856 | |
Liabilities in Excess of Other Assets — (3.9)% | (93,383,250 ) | |
NET ASSETS — 100.0% | 2,402,223,606 |
Percentages indicated are based on net assets. |
* | Non-income producing security. |
(a) | The security or a portion of this security is on loan at October 31, 2023. The total value of securities on loan at October 31, 2023 is $93,954,626. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of October 31, 2023. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 12 | 12/15/2023 | USD | 2,527,050 | (58,376 ) |
Abbreviations | |
USD | United States Dollar |
194 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — 99.8% | ||
Aerospace & Defense — 1.4% | ||
General Dynamics Corp. | 10,999 | 2,654,169 |
Huntington Ingalls Industries, Inc. | 4,802 | 1,055,575 |
L3Harris Technologies, Inc. | 10,592 | 1,900,311 |
RTX Corp. (a) | 34,283 | 2,790,293 |
Textron, Inc. | 18,716 | 1,422,416 |
9,822,764 | ||
Automobiles & Parts — 1.8% | ||
BorgWarner, Inc. | 36,769 | 1,356,776 |
Ford Motor Co. | 251,074 | 2,447,972 |
General Motors Co. | 76,435 | 2,155,467 |
Gentex Corp. | 53,402 | 1,531,569 |
Genuine Parts Co. | 12,993 | 1,674,278 |
Lear Corp. | 11,235 | 1,457,854 |
LKQ Corp. | 33,963 | 1,491,655 |
Phinia, Inc. | 16,005 | 414,209 |
12,529,780 | ||
Banks — 4.3% | ||
Bank OZK | 16,089 | 576,147 |
BOK Financial Corp. | 7,172 | 469,909 |
Citigroup, Inc. | 94,672 | 3,738,597 |
Citizens Financial Group, Inc. | 68,141 | 1,596,544 |
Columbia Banking System, Inc. | 33,514 | 659,220 |
Comerica, Inc. | 20,581 | 810,891 |
Fifth Third Bancorp | 59,771 | 1,417,170 |
First Hawaiian, Inc. | 43,334 | 776,979 |
First Horizon Corp. | 75,505 | 811,679 |
FNB Corp. | 110,005 | 1,175,953 |
Huntington Bancshares, Inc. | 142,129 | 1,371,545 |
KeyCorp | 101,034 | 1,032,568 |
M&T Bank Corp. | 10,925 | 1,231,794 |
New York Community Bancorp, Inc. | 145,992 | 1,384,004 |
PNC Financial Services Group, Inc. (The) | 5,316 | 608,523 |
Popular, Inc. (Puerto Rico) | 21,753 | 1,414,815 |
Prosperity Bancshares, Inc. | 15,290 | 833,917 |
Regions Financial Corp. | 91,863 | 1,334,769 |
Synovus Financial Corp. | 35,924 | 936,539 |
Truist Financial Corp. | 91,822 | 2,604,072 |
US Bancorp | 70,766 | 2,256,020 |
Webster Financial Corp. | 22,186 | 842,402 |
Western Alliance Bancorp | 21,012 | 863,593 |
Zions Bancorp NA | 27,396 | 845,167 |
29,592,817 |
INVESTMENTS | SHARES | VALUE ($) |
Beverages — 0.4% | ||
Keurig Dr Pepper, Inc. | 30,920 | 937,803 |
Molson Coors Beverage Co., Class B | 27,818 | 1,607,046 |
2,544,849 | ||
Chemicals — 0.9% | ||
Dow, Inc. | 42,500 | 2,054,450 |
Huntsman Corp. | 53,416 | 1,246,195 |
LyondellBasell Industries NV, Class A | 22,681 | 2,046,734 |
Mosaic Co. (The) | 15,215 | 494,183 |
5,841,562 | ||
Construction & Materials — 1.0% | ||
Acuity Brands, Inc. | 5,317 | 861,195 |
Builders FirstSource, Inc. * | 14,333 | 1,555,417 |
Fortune Brands Innovations, Inc. | 14,619 | 815,740 |
Louisiana-Pacific Corp. | 23,249 | 1,192,209 |
MDU Resources Group, Inc. | 42,217 | 785,658 |
Owens Corning | 13,238 | 1,500,792 |
6,711,011 | ||
Consumer Services — 0.8% | ||
eBay, Inc. | 48,434 | 1,900,066 |
Grand Canyon Education, Inc. * | 4,135 | 489,294 |
H&R Block, Inc. | 42,574 | 1,747,663 |
Service Corp. International | 26,729 | 1,454,592 |
U-Haul Holding Co. * (a) | 3,882 | 190,684 |
5,782,299 | ||
Electricity — 2.0% | ||
Avangrid, Inc. (a) | 19,631 | 586,378 |
Clearway Energy, Inc., Class C | 16,182 | 351,311 |
Consolidated Edison, Inc. | 23,816 | 2,090,807 |
Dominion Energy, Inc. | 7,748 | 312,399 |
Entergy Corp. | 20,771 | 1,985,500 |
Evergy, Inc. | 35,419 | 1,740,490 |
Hawaiian Electric Industries, Inc. (a) | 104,333 | 1,354,242 |
OGE Energy Corp. | 51,203 | 1,751,143 |
Pinnacle West Capital Corp. | 22,014 | 1,632,998 |
PPL Corp. | 75,116 | 1,845,600 |
13,650,868 | ||
Electronic & Electrical Equipment — 1.5% | ||
Crane Co. | 6,359 | 618,921 |
Crane NXT Co. | 12,755 | 663,260 |
Emerson Electric Co. | 33,697 | 2,998,022 |
Johnson Controls International plc | 39,236 | 1,923,349 |
MKS Instruments, Inc. | 3,965 | 260,342 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 195 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Electronic & Electrical Equipment — continued | ||
nVent Electric plc | 31,729 | 1,527,117 |
Pentair plc | 26,651 | 1,548,956 |
Sensata Technologies Holding plc | 16,937 | 539,952 |
10,079,919 | ||
Finance & Credit Services — 0.6% | ||
Ally Financial, Inc. | 55,469 | 1,341,795 |
MGIC Investment Corp. | 94,357 | 1,588,972 |
OneMain Holdings, Inc. | 33,941 | 1,219,500 |
4,150,267 | ||
Food Producers — 2.5% | ||
Archer-Daniels-Midland Co. | 36,189 | 2,590,047 |
Bunge Ltd. | 4,996 | 529,476 |
Campbell Soup Co. | 38,519 | 1,556,553 |
Conagra Brands, Inc. | 66,956 | 1,831,916 |
General Mills, Inc. | 37,578 | 2,451,589 |
Ingredion, Inc. | 9,816 | 918,581 |
J M Smucker Co. (The) | 13,062 | 1,486,978 |
Kellogg Co. | 19,880 | 1,003,344 |
Kraft Heinz Co. (The) | 72,316 | 2,275,061 |
Post Holdings, Inc. * | 9,937 | 797,742 |
Tyson Foods, Inc., Class A | 30,382 | 1,408,206 |
US Foods Holding Corp. * | 12,170 | 473,900 |
WK Kellogg Co. * | 4,850 | 48,597 |
17,371,990 | ||
Gas, Water & Multi-utilities — 0.8% | ||
Duke Energy Corp. | 39,891 | 3,545,911 |
National Fuel Gas Co. | 14,449 | 736,177 |
UGI Corp. | 39,910 | 830,128 |
5,112,216 | ||
General Industrials — 2.8% | ||
3M Co. | 23,539 | 2,140,872 |
Amcor plc | 202,589 | 1,801,016 |
Berry Global Group, Inc. | 26,842 | 1,476,310 |
Dover Corp. | 12,726 | 1,653,743 |
DuPont de Nemours, Inc. | 34,210 | 2,493,225 |
Graphic Packaging Holding Co. | 52,414 | 1,127,425 |
Packaging Corp. of America | 12,960 | 1,983,528 |
Parker-Hannifin Corp. | 7,724 | 2,849,461 |
Silgan Holdings, Inc. | 27,267 | 1,092,316 |
Sonoco Products Co. | 7,091 | 367,385 |
WestRock Co. | 50,214 | 1,804,189 |
18,789,470 |
INVESTMENTS | SHARES | VALUE ($) |
Health Care Providers — 4.8% | ||
Centene Corp. * | 28,219 | 1,946,547 |
Cigna Group (The) | 14,762 | 4,564,410 |
Elevance Health, Inc. | 10,821 | 4,870,424 |
Encompass Health Corp. | 12,312 | 770,239 |
Humana, Inc. | 6,571 | 3,441,167 |
Premier, Inc., Class A | 36,940 | 709,987 |
UnitedHealth Group, Inc. | 28,046 | 15,020,316 |
Universal Health Services, Inc., Class B | 12,032 | 1,514,708 |
32,837,798 | ||
Household Goods & Home Construction — 1.8% | ||
DR Horton, Inc. | 22,632 | 2,362,781 |
Leggett & Platt, Inc. | 57,859 | 1,355,636 |
Lennar Corp., Class A | 20,569 | 2,194,301 |
Newell Brands, Inc. | 112,828 | 758,204 |
NVR, Inc. * | 203 | 1,098,762 |
PulteGroup, Inc. | 25,396 | 1,868,892 |
Toll Brothers, Inc. | 21,628 | 1,529,316 |
Whirlpool Corp. | 11,188 | 1,169,817 |
12,337,709 | ||
Industrial Engineering — 1.8% | ||
AGCO Corp. | 11,144 | 1,277,771 |
Brunswick Corp. | 20,922 | 1,453,451 |
Caterpillar, Inc. | 19,130 | 4,324,337 |
CNH Industrial NV (United Kingdom) (a) | 67,740 | 743,785 |
Cummins, Inc. (a) | 8,777 | 1,898,465 |
Snap-on, Inc. | 7,267 | 1,874,450 |
Stanley Black & Decker, Inc. | 11,830 | 1,006,142 |
12,578,401 | ||
Industrial Materials — 0.2% | ||
International Paper Co. | 42,063 | 1,418,785 |
Industrial Metals & Mining — 0.8% | ||
Cleveland-Cliffs, Inc. * | 11,416 | 191,560 |
Nucor Corp. | 16,133 | 2,384,296 |
Reliance Steel & Aluminum Co. | 7,104 | 1,807,116 |
United States Steel Corp. (a) | 39,653 | 1,343,840 |
5,726,812 | ||
Industrial Support Services — 1.7% | ||
ADT, Inc. (a) | 93,353 | 528,378 |
Capital One Financial Corp. | 26,845 | 2,719,130 |
Fidelity National Information Services, Inc. | 12,682 | 622,813 |
ManpowerGroup, Inc. | 20,014 | 1,400,380 |
MSC Industrial Direct Co., Inc., Class A | 16,339 | 1,548,120 |
196 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Industrial Support Services — continued | ||
NCR Atleos Corp. * | 26,268 | 579,472 |
Robert Half, Inc. (a) | 13,225 | 988,833 |
Synchrony Financial | 59,787 | 1,677,025 |
Western Union Co. (The) | 133,020 | 1,501,796 |
11,565,947 | ||
Industrial Transportation — 2.7% | ||
Allison Transmission Holdings, Inc. | 27,763 | 1,399,810 |
FedEx Corp. | 13,309 | 3,195,491 |
Knight-Swift Transportation Holdings, Inc. | 30,752 | 1,503,465 |
Norfolk Southern Corp. | 12,048 | 2,298,638 |
Oshkosh Corp. | 7,231 | 634,376 |
PACCAR, Inc. | 34,620 | 2,857,189 |
Ryder System, Inc. | 16,247 | 1,584,732 |
Schneider National, Inc., Class B | 29,578 | 749,211 |
Union Pacific Corp. | 19,248 | 3,996,077 |
18,218,989 | ||
Investment Banking & Brokerage Services — 1.3% | ||
Bank of New York Mellon Corp. (The) | 50,320 | 2,138,600 |
Carlyle Group, Inc. (The) | 6,806 | 187,437 |
Franklin Resources, Inc. | 56,227 | 1,281,413 |
Invesco Ltd. | 87,768 | 1,138,351 |
Janus Henderson Group plc | 38,822 | 895,624 |
Jefferies Financial Group, Inc. | 44,647 | 1,436,741 |
State Street Corp. | 26,751 | 1,728,917 |
8,807,083 | ||
Leisure Goods — 0.9% | ||
Garmin Ltd. | 18,745 | 1,921,925 |
Harley-Davidson, Inc. | 48,504 | 1,302,332 |
Polaris, Inc. (a) | 8,301 | 717,372 |
Pool Corp. | 3,359 | 1,060,672 |
Thor Industries, Inc. (a) | 15,674 | 1,378,215 |
6,380,516 | ||
Life Insurance — 1.0% | ||
Corebridge Financial, Inc. | 46,750 | 935,000 |
Principal Financial Group, Inc. | 23,805 | 1,611,123 |
Prudential Financial, Inc. | 25,723 | 2,352,111 |
Unum Group | 36,899 | 1,804,361 |
6,702,595 | ||
Media — 1.6% | ||
Fox Corp., Class A | 53,765 | 1,633,918 |
Interpublic Group of Cos., Inc. (The) | 49,314 | 1,400,518 |
Liberty Media Corp-Liberty SiriusXM * | 40,641 | 997,736 |
INVESTMENTS | SHARES | VALUE ($) |
Media — continued | ||
News Corp., Class A | 83,290 | 1,722,437 |
Nexstar Media Group, Inc. | 11,782 | 1,650,423 |
Omnicom Group, Inc. | 22,032 | 1,650,417 |
Paramount Global, Class B (a) | 92,962 | 1,011,427 |
Sirius XM Holdings, Inc. (a) | 201,552 | 862,643 |
10,929,519 | ||
Medical Equipment & Services — 1.5% | ||
Becton Dickinson & Co. | 2,381 | 601,869 |
Laboratory Corp. of America Holdings | 6,330 | 1,264,291 |
Medtronic plc | 55,762 | 3,934,567 |
Quest Diagnostics, Inc. | 14,074 | 1,831,027 |
QuidelOrtho Corp. * | 9,964 | 608,601 |
Revvity, Inc. | 10,095 | 836,371 |
Zimmer Biomet Holdings, Inc. | 12,000 | 1,252,920 |
10,329,646 | ||
Mortgage Real Estate Investment Trusts — 0.8% | ||
AGNC Investment Corp. (a) | 114,809 | 847,290 |
Annaly Capital Management, Inc. | 86,448 | 1,349,453 |
Rithm Capital Corp. | 161,196 | 1,503,959 |
Starwood Property Trust, Inc. (a) | 80,484 | 1,428,591 |
5,129,293 | ||
Non-life Insurance — 1.7% | ||
American International Group, Inc. | 47,857 | 2,934,113 |
Assured Guaranty Ltd. | 24,743 | 1,543,963 |
Axis Capital Holdings Ltd. | 15,083 | 861,239 |
Fidelity National Financial, Inc. | 44,461 | 1,737,980 |
First American Financial Corp. | 27,209 | 1,399,631 |
Old Republic International Corp. | 63,832 | 1,747,720 |
Reinsurance Group of America, Inc. | 8,448 | 1,262,723 |
11,487,369 | ||
Non-Renewable Energy — 4.8% | ||
Antero Midstream Corp. | 6,260 | 77,248 |
Antero Resources Corp. * | 62,055 | 1,826,899 |
Chesapeake Energy Corp. (a) | 20,665 | 1,778,843 |
Chevron Corp. | 39,079 | 5,694,983 |
Coterra Energy, Inc. | 77,190 | 2,122,725 |
Diamondback Energy, Inc. | 12,209 | 1,957,347 |
HF Sinclair Corp. | 29,206 | 1,617,428 |
Kinder Morgan, Inc. | 138,869 | 2,249,678 |
Marathon Oil Corp. | 73,383 | 2,004,090 |
Marathon Petroleum Corp. | 24,054 | 3,638,167 |
Ovintiv, Inc. | 35,753 | 1,716,144 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 197 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Non-Renewable Energy — continued | ||
Phillips 66 | 27,794 | 3,170,462 |
Pioneer Natural Resources Co. | 13,793 | 3,296,527 |
Valero Energy Corp. | 13,573 | 1,723,771 |
32,874,312 | ||
Personal Care, Drug & Grocery Stores — 1.3% | ||
Albertsons Cos., Inc., Class A | 76,870 | 1,668,079 |
CVS Health Corp. | 64,380 | 4,442,864 |
Kroger Co. (The) | 47,719 | 2,165,011 |
Spectrum Brands Holdings, Inc. | 10,044 | 756,514 |
9,032,468 | ||
Personal Goods — 1.1% | ||
Carter's, Inc. (a) | 20,213 | 1,357,505 |
Columbia Sportswear Co. | 10,241 | 755,786 |
Crocs, Inc. * | 9,522 | 850,505 |
PVH Corp. | 19,683 | 1,463,431 |
Ralph Lauren Corp. | 12,768 | 1,436,783 |
Tapestry, Inc. (a) | 52,601 | 1,449,683 |
VF Corp. (a) | 34,164 | 503,236 |
7,816,929 | ||
Pharmaceuticals, Biotechnology & Marijuana Producers — 6.9% | ||
Amgen, Inc. | 19,564 | 5,002,515 |
Biogen, Inc. * | 5,362 | 1,273,690 |
Bristol-Myers Squibb Co. | 80,793 | 4,163,263 |
Fortrea Holdings, Inc. * (a) | 26,281 | 746,380 |
Gilead Sciences, Inc. | 53,316 | 4,187,439 |
Johnson & Johnson | 73,638 | 10,923,461 |
Maravai LifeSciences Holdings, Inc., Class A * | 50,605 | 347,150 |
Merck & Co., Inc. | 95,501 | 9,807,953 |
Organon & Co. | 29,555 | 437,119 |
Perrigo Co. plc | 24,549 | 678,534 |
Pfizer, Inc. | 209,406 | 6,399,447 |
United Therapeutics Corp. * | 6,200 | 1,381,732 |
Viatris, Inc. | 164,998 | 1,468,482 |
46,817,165 | ||
Real Estate Investment & Services — 0.0% ^ | ||
Jones Lang LaSalle, Inc. * | 2,489 | 318,393 |
Real Estate Investment Trusts — 2.6% | ||
Brixmor Property Group, Inc. | 2,290 | 47,609 |
Cousins Properties, Inc. | 37,167 | 664,174 |
EPR Properties | 34,286 | 1,464,012 |
Equity Residential | 19,806 | 1,095,866 |
Gaming and Leisure Properties, Inc. | 19,567 | 888,146 |
INVESTMENTS | SHARES | VALUE ($) |
Real Estate Investment Trusts — continued | ||
Highwoods Properties, Inc. (a) | 47,867 | 856,341 |
Kilroy Realty Corp. | 27,845 | 795,810 |
Kimco Realty Corp. | 85,874 | 1,540,580 |
Medical Properties Trust, Inc. (a) | 145,323 | 694,644 |
NNN REIT, Inc. | 22,645 | 822,693 |
Omega Healthcare Investors, Inc. (a) | 52,697 | 1,744,271 |
Park Hotels & Resorts, Inc. | 57,871 | 667,253 |
Regency Centers Corp. | 15,907 | 958,556 |
Simon Property Group, Inc. | 17,083 | 1,877,251 |
VICI Properties, Inc. | 72,655 | 2,027,074 |
Vornado Realty Trust (a) | 52,745 | 1,012,704 |
WP Carey, Inc. | 13,465 | 722,397 |
17,879,381 | ||
Retailers — 3.7% | ||
Advance Auto Parts, Inc. | 15,501 | 806,517 |
AutoNation, Inc. * | 10,396 | 1,352,312 |
Bath & Body Works, Inc. | 22,887 | 678,599 |
Best Buy Co., Inc. | 24,982 | 1,669,297 |
Capri Holdings Ltd. * | 22,891 | 1,171,561 |
Dick's Sporting Goods, Inc. | 12,634 | 1,351,206 |
Gap, Inc. (The) (a) | 94,257 | 1,206,490 |
Home Depot, Inc. (The) | 19,633 | 5,589,319 |
Kohl's Corp. (a) | 49,385 | 1,113,632 |
Lithia Motors, Inc., Class A | 5,675 | 1,374,542 |
Macy's, Inc. | 133,339 | 1,624,069 |
Murphy USA, Inc. | 3,149 | 1,142,111 |
Nordstrom, Inc. (a) | 62,259 | 870,381 |
Penske Automotive Group, Inc. (a) | 9,604 | 1,374,140 |
Target Corp. | 11,699 | 1,296,132 |
Victoria's Secret & Co. * (a) | 40,385 | 722,084 |
Williams-Sonoma, Inc. | 12,494 | 1,877,099 |
25,219,491 | ||
Software & Computer Services — 16.4% | ||
Akamai Technologies, Inc. * | 19,300 | 1,994,269 |
Alphabet, Inc., Class A * | 110,703 | 13,736,028 |
Amdocs Ltd. | 20,685 | 1,658,110 |
ANSYS, Inc. * | 4,978 | 1,385,178 |
AppLovin Corp., Class A * (a) | 38,909 | 1,417,844 |
CACI International, Inc., Class A * | 5,297 | 1,720,254 |
Clarivate plc * (a) | 115,879 | 739,308 |
Cognizant Technology Solutions Corp., Class A | 37,477 | 2,416,142 |
Concentrix Corp. | 17,839 | 1,359,510 |
Dolby Laboratories, Inc., Class A | 19,699 | 1,594,437 |
198 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Software & Computer Services — continued | ||
Dropbox, Inc., Class A * | 38,290 | 1,007,027 |
Dun & Bradstreet Holdings, Inc. | 127,519 | 1,117,066 |
DXC Technology Co. * (a) | 57,810 | 1,166,028 |
EPAM Systems, Inc. * | 5,133 | 1,116,787 |
F5, Inc. * | 11,144 | 1,689,319 |
Gen Digital, Inc. | 91,931 | 1,531,570 |
GoDaddy, Inc., Class A * | 15,070 | 1,103,576 |
Hewlett Packard Enterprise Co. | 125,890 | 1,936,188 |
IAC, Inc. * | 8,923 | 379,674 |
International Business Machines Corp. | 39,745 | 5,748,717 |
Intuit, Inc. | 10,555 | 5,224,197 |
KBR, Inc. (a) | 19,688 | 1,144,857 |
Leidos Holdings, Inc. | 19,702 | 1,952,862 |
Match Group, Inc. * | 24,226 | 838,220 |
Meta Platforms, Inc., Class A * | 50,675 | 15,266,857 |
Microsoft Corp. | 43,915 | 14,848,101 |
NCR Voyix Corp. * | 52,536 | 803,275 |
Oracle Corp. | 61,930 | 6,403,562 |
Paycom Software, Inc. | 2,353 | 576,414 |
PTC, Inc. * | 10,716 | 1,504,741 |
Roper Technologies, Inc. | 6,444 | 3,148,345 |
Salesforce, Inc. * | 33,792 | 6,786,447 |
Science Applications International Corp. | 14,448 | 1,578,300 |
SS&C Technologies Holdings, Inc. | 33,330 | 1,674,833 |
Teradata Corp. * | 30,469 | 1,301,636 |
VMware, Inc., Class A * | 12,098 | 1,762,074 |
Zoom Video Communications, Inc., Class A * | 18,178 | 1,090,316 |
ZoomInfo Technologies, Inc. * | 91,551 | 1,186,501 |
111,908,570 | ||
Technology Hardware & Equipment — 14.5% | ||
Amphenol Corp., Class A | 35,879 | 2,890,054 |
Analog Devices, Inc. | 24,594 | 3,869,374 |
Apple, Inc. | 78,855 | 13,466,068 |
Applied Materials, Inc. | 37,066 | 4,905,685 |
Arrow Electronics, Inc. * | 13,182 | 1,494,971 |
Avnet, Inc. | 32,647 | 1,512,536 |
Broadcom, Inc. | 14,870 | 12,511,172 |
CDW Corp. | 11,466 | 2,297,786 |
Cirrus Logic, Inc. * | 20,067 | 1,343,084 |
Coherent Corp. * | 23,550 | 697,080 |
Corning, Inc. | 70,627 | 1,889,979 |
Entegris, Inc. | 17,216 | 1,515,697 |
GLOBALFOUNDRIES, Inc. * (a) | 15,715 | 779,778 |
HP, Inc. | 77,739 | 2,046,868 |
INVESTMENTS | SHARES | VALUE ($) |
Technology Hardware & Equipment — continued | ||
Intel Corp. | 175,457 | 6,404,181 |
IPG Photonics Corp. * | 8,644 | 742,520 |
Jabil, Inc. | 17,185 | 2,110,318 |
KLA Corp. | 7,432 | 3,490,810 |
Lam Research Corp. | 6,511 | 3,829,900 |
Marvell Technology, Inc. | 49,873 | 2,355,003 |
Microchip Technology, Inc. | 35,732 | 2,547,334 |
Micron Technology, Inc. | 25,136 | 1,680,844 |
Monolithic Power Systems, Inc. | 2,755 | 1,216,994 |
NetApp, Inc. | 26,278 | 1,912,513 |
ON Semiconductor Corp. * | 29,149 | 1,825,893 |
Qorvo, Inc. * | 13,429 | 1,173,963 |
QUALCOMM, Inc. | 49,347 | 5,378,330 |
Skyworks Solutions, Inc. | 18,953 | 1,643,983 |
TD SYNNEX Corp. | 16,046 | 1,471,097 |
Teradyne, Inc. (a) | 18,997 | 1,581,880 |
Texas Instruments, Inc. | 38,409 | 5,454,462 |
Universal Display Corp. (a) | 8,084 | 1,125,131 |
Vertiv Holdings Co. | 43,349 | 1,702,315 |
98,867,603 | ||
Telecommunications Equipment — 1.0% | ||
Cisco Systems, Inc. | 134,358 | 7,004,083 |
Telecommunications Service Providers — 1.3% | ||
AT&T, Inc. | 283,465 | 4,365,361 |
Comcast Corp., Class A | 97,316 | 4,018,178 |
DISH Network Corp., Class A * (a) | 55,680 | 272,832 |
Verizon Communications, Inc. | 13,048 | 458,376 |
9,114,747 | ||
Tobacco — 1.1% | ||
Altria Group, Inc. | 91,908 | 3,691,944 |
Philip Morris International, Inc. | 40,160 | 3,580,666 |
7,272,610 | ||
Travel & Leisure — 1.7% | ||
Boyd Gaming Corp. | 23,372 | 1,291,303 |
Darden Restaurants, Inc. | 12,887 | 1,875,445 |
Marriott Vacations Worldwide Corp. | 12,064 | 1,084,071 |
MGM Resorts International | 42,176 | 1,472,786 |
Penn Entertainment, Inc. * (a) | 38,698 | 763,512 |
Travel + Leisure Co. | 33,613 | 1,143,850 |
United Airlines Holdings, Inc. * | 24,901 | 871,784 |
Vail Resorts, Inc. (a) | 4,242 | 900,365 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 199 |
INVESTMENTS | SHARES | VALUE ($) |
Common Stocks — continued | ||
Travel & Leisure — continued | ||
Wendy's Co. (The) | 70,572 | 1,342,279 |
Wyndham Hotels & Resorts, Inc. | 12,717 | 920,711 |
11,666,106 | ||
Total Common Stocks (Cost $745,786,981) | 682,222,132 | |
Short-Term Investments — 5.1% | ||
Investment Companies — 0.1% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (b) (c)(Cost $841,596) | 841,596 | 841,596 |
Investment of Cash Collateral from Securities Loaned — 5.0% | ||
JPMorgan Securities Lending Money Market Fund Class Agency SL Shares, 5.53% (b) (c) | 30,284,477 | 30,290,534 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (b) (c) | 3,962,851 | 3,962,851 |
Total Investment of Cash Collateral from Securities Loaned (Cost $34,253,585) | 34,253,385 | |
Total Short-Term Investments (Cost $35,095,181) | 35,094,981 | |
Total Investments — 104.9% (Cost $780,882,162) | 717,317,113 | |
Liabilities in Excess of Other Assets — (4.9)% | (33,671,492 ) | |
NET ASSETS — 100.0% | 683,645,621 |
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 October 31, 2023. The total value of securities on loan at October 31, 2023 is $33,450,655. | |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. | |
(c) | The rate shown is the current yield as of October 31, 2023. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 4 | 12/15/2023 | USD | 842,350 | (12,571 ) |
Abbreviations | |
USD | United States Dollar |
200 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
JPMorgan BetaBuilders Canada ETF | JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF | JPMorgan BetaBuilders Emerging Markets Equity ETF | JPMorgan BetaBuilders Europe ETF | |
ASSETS: | ||||
Investments in non-affiliates, at value | $5,656,159,388 | $3,794,662,061 | $478,606,589 | $5,083,660,312 |
Investments in affiliates, at value | — | — | 4,440,195 | — |
Investments of cash collateral received from securities loaned, at value (See Note 2.C.) | 184,371,831 | 11,792,130 | — | 43,392,389 |
Cash | — | 11,383 | 118,276 | 48,730 |
Foreign currency, at value | 11,678,907 | 11,109,001 | 118,426 | 26,752,557 |
Deposits at broker for futures contracts | 1,455,722 | 9,056,675 | 138,582 | 3,724,501 |
Receivables: | ||||
Investment securities sold | — | 97 | — | — |
Dividends from non-affiliates | 18,315,189 | 684,474 | 479,698 | 3,592,355 |
Dividends from affiliates | — | — | 580 | — |
Tax reclaims | — | 163,153 | 27,706 | 25,495,864 |
Securities lending income (See Note 2.C.) | 192,512 | 547 | — | 29,736 |
Variation margin on futures contracts | 198,565 | — | — | 503,264 |
Total Assets | 5,872,372,114 | 3,827,479,521 | 483,930,052 | 5,187,199,708 |
LIABILITIES: | ||||
Payables: | ||||
Due to custodian | 59,286 | — | — | — |
Collateral received on securities loaned (See Note 2.C.) | 184,371,831 | 11,792,130 | — | 43,392,389 |
Variation margin on futures contracts | — | 5,138,584 | 32,500 | — |
Accrued liabilities: | ||||
Management fees (See Note 3.A.) | 966,285 | 646,291 | 61,909 | 446,744 |
Deferred foreign capital gains tax | — | — | 430,029 | — |
Total Liabilities | 185,397,402 | 17,577,005 | 524,438 | 43,839,133 |
Net Assets | $5,686,974,712 | $3,809,902,516 | $483,405,614 | $5,143,360,575 |
NET ASSETS: | ||||
Paid-in-Capital | $5,640,863,069 | $4,729,264,130 | $521,226,924 | $6,295,105,049 |
Total distributable earnings (loss) | 46,111,643 | (919,361,614 ) | (37,821,310 ) | (1,151,744,474 ) |
Total Net Assets | $5,686,974,712 | $3,809,902,516 | $483,405,614 | $5,143,360,575 |
Outstanding number of shares (unlimited number of shares authorized - par value $0.0001) | 103,098,911 | 87,448,641 | 10,800,000 | 104,199,596 |
Net asset value, per share | $55.16 | $43.57 | $44.76 | $49.36 |
Cost of investments in non-affiliates | $5,430,073,969 | $4,390,199,215 | $515,289,385 | $5,908,663,965 |
Cost of investments in affiliates | — | — | 4,440,195 | — |
Cost of foreign currency | 11,789,664 | 11,052,024 | 118,134 | 26,650,618 |
Investment securities on loan, at value (See Note 2.C.) | 174,280,525 | 11,180,067 | — | 41,286,855 |
Cost of investment of cash collateral (See Note 2.C.) | 184,371,831 | 11,792,130 | — | 43,392,389 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 201 |
JPMorgan BetaBuilders International Equity ETF | JPMorgan BetaBuilders Japan ETF | JPMorgan BetaBuilders U.S. Equity ETF | JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | |
ASSETS: | ||||
Investments in non-affiliates, at value | $3,516,354,347 | $8,666,401,662 | $2,131,243,494 | $1,396,416,946 |
Investments in affiliates, at value | 26,299,048 | — | 39,163,022 | 14,241,062 |
Investments of cash collateral received from securities loaned, at value (See Note 2.C.) | 13,281,651 | 8,669,611 | 44,558,464 | 155,291,436 |
Cash | 907,742 | 25,647 | 58,953 | 50,715 |
Foreign currency, at value | 46,616 | 48,896,695 | — | — |
Deposits at broker for futures contracts | 1,327,557 | 5,231,799 | 906,000 | 1,004,000 |
Receivables: | ||||
Fund shares sold | — | 295,622 | 40,789 | 710,107 |
Dividends from non-affiliates | 9,366,585 | 75,063,173 | 1,554,178 | 522,735 |
Dividends from affiliates | 3,702 | — | 2,236 | 2,066 |
Tax reclaims | 6,832,342 | — | — | — |
Securities lending income (See Note 2.C.) | 12,217 | 10,050 | 6,754 | 52,475 |
Variation margin on futures contracts | 126,421 | 2,891,951 | 103,976 | 142,150 |
Due from Broker | — | — | — | 1,234,863 |
Total Assets | 3,574,558,228 | 8,807,486,210 | 2,217,637,866 | 1,569,668,555 |
LIABILITIES: | ||||
Payables: | ||||
Investment securities purchased | 775,403 | 74,427 | 8,611 | 136,547 |
Collateral received on securities loaned (See Note 2.C.) | 13,281,651 | 8,669,611 | 44,558,464 | 155,291,436 |
Accrued liabilities: | ||||
Management fees (See Note 3.A.) | 204,497 | 1,432,238 | 32,292 | 78,081 |
Total Liabilities | 14,261,551 | 10,176,276 | 44,599,367 | 155,506,064 |
Net Assets | $3,560,296,677 | $8,797,309,934 | $2,173,038,499 | $1,414,162,491 |
NET ASSETS: | ||||
Paid-in-Capital | $3,667,492,548 | $9,664,211,072 | $2,215,433,890 | $1,818,466,492 |
Total distributable earnings (loss) | (107,195,871 ) | (866,901,138 ) | (42,395,391 ) | (404,304,001 ) |
Total Net Assets | $3,560,296,677 | $8,797,309,934 | $2,173,038,499 | $1,414,162,491 |
Outstanding number of shares (unlimited number of shares authorized - par value $0.0001) | 70,600,000 | 180,697,548 | 28,850,000 | 19,900,000 |
Net asset value, per share | $50.43 | $48.69 | $75.32 | $71.06 |
Cost of investments in non-affiliates | $3,537,443,851 | $9,352,402,744 | $2,132,962,254 | $1,510,077,695 |
Cost of investments in affiliates | 26,299,048 | — | 38,879,525 | 14,241,062 |
Cost of foreign currency | 46,528 | 49,548,724 | — | — |
Investment securities on loan, at value (See Note 2.C.) | 12,645,686 | 8,163,766 | 44,049,242 | 154,016,364 |
Cost of investment of cash collateral (See Note 2.C.) | 13,281,651 | 8,669,611 | 44,559,764 | 155,293,935 |
202 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF | JPMorgan Carbon Transition U.S. Equity ETF | JPMorgan Diversified Return Emerging Markets Equity ETF | JPMorgan Diversified Return International Equity ETF | |
ASSETS: | ||||
Investments in non-affiliates, at value | $619,810,415 | $5,636,482 | $268,825,279 | $350,428,848 |
Investments in affiliates, at value | 3,209,614 | 10,503 | — | 424,062 |
Investments of cash collateral received from securities loaned, at value (See Note 2.C.) | 104,143,570 | — | — | 2,124,162 |
Cash | 13,156 | 193 | 656,691 | 167,972 |
Foreign currency, at value | — | — | 81,548 | 5,890 |
Deposits at broker for futures contracts | 380,000 | 13,000 | 21,093 | 63,529 |
Receivables: | ||||
Investment securities sold | — | — | 22 | — |
Fund shares sold | 89,207 | — | 2,072 | — |
Dividends from non-affiliates | 193,272 | 12,644 | 491,035 | 1,492,840 |
Dividends from affiliates | 465 | 2 | — | 47 |
Tax reclaims | — | — | 37,813 | 805,505 |
Securities lending income (See Note 2.C.) | 69,256 | — | — | 4,171 |
Variation margin on futures contracts | 29,559 | 47 | — | 5,831 |
Due from adviser | — | 268 | — | — |
Total Assets | 727,938,514 | 5,673,139 | 270,115,553 | 355,522,857 |
LIABILITIES: | ||||
Payables: | ||||
Investment securities purchased | 26,880 | — | — | 112,109 |
Collateral received on securities loaned (See Note 2.C.) | 104,143,570 | — | — | 2,124,162 |
Variation margin on futures contracts | — | — | 3,900 | — |
Accrued liabilities: | ||||
Management fees (See Note 3.A.) | 45,177 | — | 104,617 | 109,894 |
Deferred foreign capital gains tax | — | — | 508,134 | — |
Other | — | — | — | 1,313 |
Total Liabilities | 104,215,627 | — | 616,651 | 2,347,478 |
Net Assets | $623,722,887 | $5,673,139 | $269,498,902 | $353,175,379 |
NET ASSETS: | ||||
Paid-in-Capital | $850,079,206 | $8,534,840 | $313,365,969 | $558,679,314 |
Total distributable earnings (loss) | (226,356,319 ) | (2,861,701 ) | (43,867,067 ) | (205,503,935 ) |
Total Net Assets | $623,722,887 | $5,673,139 | $269,498,902 | $353,175,379 |
Outstanding number of shares (unlimited number of shares authorized - par value $0.0001) | 12,625,000 | 100,000 | 5,600,000 | 7,200,000 |
Net asset value, per share | $49.40 | $56.73 | $48.12 | $49.05 |
Cost of investments in non-affiliates | $766,998,882 | $5,845,776 | $271,012,781 | $390,344,021 |
Cost of investments in affiliates | 3,209,614 | 10,503 | — | 424,031 |
Cost of foreign currency | — | — | 111,304 | 5,877 |
Investment securities on loan, at value (See Note 2.C.) | 102,117,546 | — | — | 2,021,253 |
Cost of investment of cash collateral (See Note 2.C.) | 104,144,270 | — | — | 2,124,162 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 203 |
JPMorgan Diversified Return U.S. Equity ETF | JPMorgan Diversified Return U.S. Mid Cap Equity ETF | JPMorgan Diversified Return U.S. Small Cap Equity ETF | JPMorgan U.S. Momentum Factor ETF | |
ASSETS: | ||||
Investments in non-affiliates, at value | $419,395,846 | $309,606,119 | $385,654,695 | $301,586,573 |
Investments in affiliates, at value | 306,480 | 280,906 | 365,657 | 154,302 |
Investments of cash collateral received from securities loaned, at value (See Note 2.C.) | 20,439,870 | 26,283,512 | 49,275,282 | 571,988 |
Cash | — | — | 20,768 | 2,873 |
Deposits at broker for futures contracts | 27,400 | 62,600 | 29,800 | 12,840 |
Receivables: | ||||
Fund shares sold | — | — | — | 65,530 |
Dividends from non-affiliates | 495,750 | 270,802 | 213,616 | 172,927 |
Dividends from affiliates | 44 | 41 | 53 | 23 |
Securities lending income (See Note 2.C.) | 817 | 1,521 | 15,354 | 73 |
Variation margin on futures contracts | 2,585 | — | 2,859 | 877 |
Total Assets | 440,668,792 | 336,505,501 | 435,578,084 | 302,568,006 |
LIABILITIES: | ||||
Payables: | ||||
Due to custodian | 337 | 41,777 | — | — |
Investment securities purchased | — | — | — | 42,040 |
Collateral received on securities loaned (See Note 2.C.) | 20,439,870 | 26,283,512 | 49,275,282 | 571,988 |
Variation margin on futures contracts | — | 53,824 | — | — |
Accrued liabilities: | ||||
Management fees (See Note 3.A.) | 62,544 | 62,441 | 94,496 | 27,392 |
Total Liabilities | 20,502,751 | 26,441,554 | 49,369,778 | 641,420 |
Net Assets | $420,166,041 | $310,063,947 | $386,208,306 | $301,926,586 |
NET ASSETS: | ||||
Paid-in-Capital | $472,942,900 | $360,304,106 | $471,243,302 | $332,774,177 |
Total distributable earnings (loss) | (52,776,859 ) | (50,240,159 ) | (85,034,996 ) | (30,847,591 ) |
Total Net Assets | $420,166,041 | $310,063,947 | $386,208,306 | $301,926,586 |
Outstanding number of shares (unlimited number of shares authorized - par value $0.0001) | 4,600,000 | 3,850,000 | 10,350,000 | 7,550,000 |
Net asset value, per share | $91.34 | $80.54 | $37.31 | $39.99 |
Cost of investments in non-affiliates | $413,779,874 | $328,157,718 | $418,351,646 | $288,196,551 |
Cost of investments in affiliates | 306,480 | 280,906 | 365,657 | 154,302 |
Investment securities on loan, at value (See Note 2.C.) | 20,157,750 | 25,944,054 | 47,876,291 | 562,229 |
Cost of investment of cash collateral (See Note 2.C.) | 20,440,070 | 26,283,711 | 49,276,182 | 571,988 |
204 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
JPMorgan U.S. Quality Factor ETF | JPMorgan U.S. Value Factor ETF | |
ASSETS: | ||
Investments in non-affiliates, at value | $2,398,343,472 | $682,222,132 |
Investments in affiliates, at value | 1,995,808 | 841,596 |
Investments of cash collateral received from securities loaned, at value (See Note 2.C.) | 95,267,576 | 34,253,385 |
Cash | — | 8,602 |
Deposits at broker for futures contracts | 710,600 | 206,600 |
Receivables: | ||
Investment securities sold | 29,711 | — |
Dividends from non-affiliates | 2,004,174 | 617,778 |
Dividends from affiliates | 290 | 122 |
Securities lending income (See Note 2.C.) | 58,495 | 14,847 |
Total Assets | 2,498,410,126 | 718,165,062 |
LIABILITIES: | ||
Payables: | ||
Due to custodian | 43,773 | — |
Collateral received on securities loaned (See Note 2.C.) | 95,267,576 | 34,253,385 |
Fund shares redeemed | 49,864 | — |
Variation margin on futures contracts | 593,945 | 201,412 |
Accrued liabilities: | ||
Management fees (See Note 3.A.) | 231,362 | 64,644 |
Total Liabilities | 96,186,520 | 34,519,441 |
Net Assets | $2,402,223,606 | $683,645,621 |
NET ASSETS: | ||
Paid-in-Capital | $2,483,961,784 | $830,613,200 |
Total distributable earnings (loss) | (81,738,178 ) | (146,967,579 ) |
Total Net Assets | $2,402,223,606 | $683,645,621 |
Outstanding number of shares (unlimited number of shares authorized - par value $0.0001) | 56,950,000 | 20,500,000 |
Net asset value, per share | $42.18 | $33.35 |
Cost of investments in non-affiliates | $2,407,426,490 | $745,786,981 |
Cost of investments in affiliates | 1,995,808 | 841,596 |
Investment securities on loan, at value (See Note 2.C.) | 93,954,626 | 33,450,655 |
Cost of investment of cash collateral (See Note 2.C.) | 95,271,375 | 34,253,585 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 205 |
JPMorgan BetaBuilders Canada ETF | JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF | JPMorgan BetaBuilders Emerging Markets Equity ETF (a) | JPMorgan BetaBuilders Europe ETF | |
INVESTMENT INCOME: | ||||
Interest income from non-affiliates | $95,006 | $79,458 | $2,659 | $155,646 |
Interest income from affiliates | 5,900 | 112,870 | 15,879 | 104,272 |
Dividend income from non-affiliates | 198,688,088 | 182,684,757 | 8,469,755 | 274,327,714 |
Dividend income from affiliates | — | — | 83,341 | — |
Income from securities lending (net) (See Note 2.C.) | 2,909,793 | 35,598 | 595 | 2,195,872 |
Foreign taxes withheld (net) | (28,166,376 ) | (1,332,131 ) | (1,101,207 ) | (30,388,955 ) |
Total investment income | 173,532,411 | 181,580,552 | 7,471,022 | 246,394,549 |
EXPENSES: | ||||
Management fees (See Note 3.A.) | 11,280,516 | 7,963,512 | 309,273 | 5,930,443 |
Interest expense to non-affiliates | — | 3,851 | 465 | 7,250 |
Interest expense to affiliates | 4,767 | 12,074 | 590 | 18,604 |
Total expenses | 11,285,283 | 7,979,437 | 310,328 | 5,956,297 |
Net investment income (loss) | 162,247,128 | 173,601,115 | 7,160,694 | 240,438,252 |
REALIZED/UNREALIZED GAINS (LOSSES): | ||||
Net realized gain (loss) on transactions from: | ||||
Investments in non-affiliates | (23,605,091 ) | (80,762,697 ) | (512,056 )(b) | (92,169,447 ) |
In-kind redemptions of investments in non-affiliates (See Note 4) | 144,562,382 | 36,153,615 | — | 391,502,968 |
Futures contracts | (2,767,034 ) | (1,598,882 ) | (279,439 ) | 5,741,967 |
Foreign currency transactions | (1,107,268 ) | (1,628,397 ) | (234,421 ) | 2,528,333 |
Net realized gain (loss) | 117,082,989 | (47,836,361 ) | (1,025,916 ) | 307,603,821 |
Change in net unrealized appreciation/depreciation on: | ||||
Investments in non-affiliates | (342,381,822 ) | 8,076,817 | (37,112,825 )(c) | 69,232,924 |
Investments in affiliates | — | (33 ) | — | (8,328 ) |
Futures contracts | (1,487,713 ) | (374,829 ) | (242,212 ) | (3,354,447 ) |
Foreign currency translations | (299,174 ) | (183,033 ) | (6,049 ) | 1,212,899 |
Change in net unrealized appreciation/depreciation | (344,168,709 ) | 7,518,922 | (37,361,086 ) | 67,083,048 |
Net realized/unrealized gains (losses) | (227,085,720 ) | (40,317,439 ) | (38,387,002 ) | 374,686,869 |
Change in net assets resulting from operations | $(64,838,592 ) | $133,283,676 | $(31,226,308 ) | $615,125,121 |
206 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
JPMorgan BetaBuilders International Equity ETF | JPMorgan BetaBuilders Japan ETF | JPMorgan BetaBuilders U.S. Equity ETF | JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | |
INVESTMENT INCOME: | ||||
Interest income from non-affiliates | $54,596 | $106 | $26,615 | $34,386 |
Interest income from affiliates | 4,111 | 1,988 | 63 | 721 |
Dividend income from non-affiliates | 113,792,355 | 198,898,946 | 25,672,533 | 21,130,346 |
Dividend income from affiliates | 822,603 | — | 1,027,383 | 598,612 |
Income from securities lending (net) (See Note 2.C.) | 587,170 | 358,876 | 94,677 | 1,820,533 |
Foreign taxes withheld (net) | (10,566,833 ) | (19,876,527 ) | — | — |
Total investment income | 104,694,002 | 179,383,389 | 26,821,271 | 23,584,598 |
EXPENSES: | ||||
Management fees (See Note 3.A.) | 2,350,840 | 14,823,136 | 323,743 | 1,043,635 |
Interest expense to non-affiliates | 177 | 11,819 | 1,587 | 3,203 |
Interest expense to affiliates | 8,037 | 94,806 | — | — |
Total expenses | 2,359,054 | 14,929,761 | 325,330 | 1,046,838 |
Net investment income (loss) | 102,334,948 | 164,453,628 | 26,495,941 | 22,537,760 |
REALIZED/UNREALIZED GAINS (LOSSES): | ||||
Net realized gain (loss) on transactions from: | ||||
Investments in non-affiliates | (32,937,393 ) | (79,817,138 ) | (24,979,327 ) | (133,157,856 ) |
Investments in affiliates | — | — | (41,535 ) | — |
In-kind redemptions of investments in non-affiliates (See Note 4) | 54,843,606 | 37,393,615 | 47,958,631 | 106,277,169 |
In-kind redemptions of investments in affiliates (See Note 4) | — | — | 571,646 | — |
Futures contracts | 2,999,031 | 18,389,185 | 789,218 | (1,245,549 ) |
Foreign currency transactions | (244,002 ) | (1,648,352 ) | — | — |
Net realized gain (loss) | 24,661,242 | (25,682,690 ) | 24,298,633 | (28,126,236 ) |
Change in net unrealized appreciation/depreciation on: | ||||
Investments in non-affiliates | 262,706,198 | 950,430,772 | 63,490,819 | (31,738,286 ) |
Investments in affiliates | 98 | — | 884,251 | (4,946 ) |
Futures contracts | (1,582,637 ) | (4,195,936 ) | (875,663 ) | (1,631,904 ) |
Foreign currency translations | 482,748 | 79,591 | — | — |
Change in net unrealized appreciation/depreciation | 261,606,407 | 946,314,427 | 63,499,407 | (33,375,136 ) |
Net realized/unrealized gains (losses) | 286,267,649 | 920,631,737 | 87,798,040 | (61,501,372 ) |
Change in net assets resulting from operations | $388,602,597 | $1,085,085,365 | $114,293,981 | $(38,963,612 ) |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 207 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF | JPMorgan Carbon Transition U.S. Equity ETF | JPMorgan Diversified Return Emerging Markets Equity ETF | JPMorgan Diversified Return International Equity ETF | |
INVESTMENT INCOME: | ||||
Interest income from non-affiliates | $23,930 | $579 | $2,197 | $8,328 |
Interest income from affiliates | 238 | 3 | 11,345 | 3,367 |
Dividend income from non-affiliates | 10,046,462 | 334,303 | 13,896,526 | 26,265,783 |
Dividend income from affiliates | 301,265 | 1,892 | 4,990 | 42,587 |
Income from securities lending (net) (See Note 2.C.) | 1,283,949 | — | 723 | 147,406 |
Foreign taxes withheld (net) | — | — | (1,559,620 ) | (2,004,789 ) |
Total investment income | 11,655,844 | 336,777 | 12,356,161 | 24,462,682 |
EXPENSES: | ||||
Management fees (See Note 3.A.) | 588,295 | 33,396 | 1,178,031 | 2,295,229 |
Interest expense to non-affiliates | 1,584 | — | — | — |
Interest expense to affiliates | — | — | 900 | 698 |
Total expenses | 589,879 | 33,396 | 1,178,931 | 2,295,927 |
Net investment income (loss) | 11,065,965 | 303,381 | 11,177,230 | 22,166,755 |
REALIZED/UNREALIZED GAINS (LOSSES): | ||||
Net realized gain (loss) on transactions from: | ||||
Investments in non-affiliates | (35,810,636 ) | (1,276,820 ) | (6,300,626 )(a) | (34,435,272 ) |
Investments in affiliates | — | — | — | 1,144 |
In-kind redemptions of investments in non-affiliates (See Note 4) | 53,008,594 | 3,323,274 | 1,435,563 | 31,550,815 |
Futures contracts | (537,523 ) | 7,723 | (4,721 ) | 740,484 |
Foreign currency transactions | — | — | (7,143 ) | 99,100 |
Net realized gain (loss) | 16,660,435 | 2,054,177 | (4,876,927 ) | (2,043,729 ) |
Change in net unrealized appreciation/depreciation on: | ||||
Investments in non-affiliates | (89,218,102 ) | (161,409 ) | 9,613,006 (b) | 99,656,561 |
Investments in affiliates | (4,902 ) | — | — | (1,092 ) |
Futures contracts | (675,647 ) | (2,587 ) | (25,159 ) | (201,408 ) |
Foreign currency translations | — | — | (13,299 ) | 119,791 |
Change in net unrealized appreciation/depreciation | (89,898,651 ) | (163,996 ) | 9,574,548 | 99,573,852 |
Net realized/unrealized gains (losses) | (73,238,216 ) | 1,890,181 | 4,697,621 | 97,530,123 |
Change in net assets resulting from operations | $(62,172,251 ) | $2,193,562 | $15,874,851 | $119,696,878 |
208 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
JPMorgan Diversified Return U.S. Equity ETF | JPMorgan Diversified Return U.S. Mid Cap Equity ETF | JPMorgan Diversified Return U.S. Small Cap Equity ETF | JPMorgan U.S. Momentum Factor ETF | |
INVESTMENT INCOME: | ||||
Interest income from non-affiliates | $2,976 | $2,277 | $2,972 | $1,293 |
Interest income from affiliates | 378 | 99 | 203 | 140 |
Dividend income from non-affiliates | 12,147,656 | 6,825,033 | 8,171,521 | 3,733,605 |
Dividend income from affiliates | 46,437 | 28,807 | 50,390 | 21,522 |
Income from securities lending (net) (See Note 2.C.) | 10,245 | 7,889 | 231,723 | 29,442 |
Total investment income | 12,207,692 | 6,864,105 | 8,456,809 | 3,786,002 |
EXPENSES: | ||||
Management fees (See Note 3.A.) | 873,022 | 773,219 | 1,062,901 | 305,452 |
Total expenses | 873,022 | 773,219 | 1,062,901 | 305,452 |
Net investment income (loss) | 11,334,670 | 6,090,886 | 7,393,908 | 3,480,550 |
REALIZED/UNREALIZED GAINS (LOSSES): | ||||
Net realized gain (loss) on transactions from: | ||||
Investments in non-affiliates | (25,214,145 ) | (18,510,268 ) | (32,440,440 ) | (19,440,507 ) |
In-kind redemptions of investments in non-affiliates (See Note 4) | 44,691,429 | 31,958,205 | 32,416,518 | 1,350,940 |
Futures contracts | 35,169 | (57,000 ) | (139,196 ) | 33,373 |
Net realized gain (loss) | 19,512,453 | 13,390,937 | (163,118 ) | (18,056,194 ) |
Change in net unrealized appreciation/depreciation on: | ||||
Investments in non-affiliates | (30,036,371 ) | (27,982,932 ) | (28,846,512 ) | 25,936,160 |
Investments in affiliates | (300 ) | (199 ) | (3,539 ) | — |
Futures contracts | (40,658 ) | (31,666 ) | (34,893 ) | (28,977 ) |
Change in net unrealized appreciation/depreciation | (30,077,329 ) | (28,014,797 ) | (28,884,944 ) | 25,907,183 |
Net realized/unrealized gains (losses) | (10,564,876 ) | (14,623,860 ) | (29,048,062 ) | 7,850,989 |
Change in net assets resulting from operations | $769,794 | $(8,532,974 ) | $(21,654,154 ) | $11,331,539 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 209 |
JPMorgan U.S. Quality Factor ETF | JPMorgan U.S. Value Factor ETF | |
INVESTMENT INCOME: | ||
Interest income from non-affiliates | $5,808 | $3,822 |
Interest income from affiliates | 263 | 99 |
Dividend income from non-affiliates | 21,515,616 | 16,301,984 |
Dividend income from affiliates | 119,019 | 61,176 |
Income from securities lending (net) (See Note 2.C.) | 356,681 | 93,680 |
Total investment income | 21,997,387 | 16,460,761 |
EXPENSES: | ||
Management fees (See Note 3.A.) | 1,585,255 | 744,341 |
Interest expense to affiliates | — | 710 |
Total expenses | 1,585,255 | 745,051 |
Net investment income (loss) | 20,412,132 | 15,715,710 |
REALIZED/UNREALIZED GAINS (LOSSES): | ||
Net realized gain (loss) on transactions from: | ||
Investments in non-affiliates | (41,757,883 ) | (36,602,131 ) |
In-kind redemptions of investments in non-affiliates (See Note 4) | 77,693,640 | 38,645,426 |
Futures contracts | 135,170 | 55,208 |
Net realized gain (loss) | 36,070,927 | 2,098,503 |
Change in net unrealized appreciation/depreciation on: | ||
Investments in non-affiliates | 7,439,259 | (16,734,545 ) |
Investments in affiliates | (3,999 ) | (408 ) |
Futures contracts | (113,390 ) | (40,802 ) |
Change in net unrealized appreciation/depreciation | 7,321,870 | (16,775,755 ) |
Net realized/unrealized gains (losses) | 43,392,797 | (14,677,252 ) |
Change in net assets resulting from operations | $63,804,929 | $1,038,458 |
210 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
JPMorgan BetaBuilders Canada ETF | JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF | |||
Year Ended October 31, 2023 | Year Ended October 31, 2022 | Year Ended October 31, 2023 | Year Ended October 31, 2022 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $162,247,128 | $155,905,858 | $173,601,115 | $168,498,778 |
Net realized gain (loss) | 117,082,989 | 16,551,404 | (47,836,361 ) | (101,978,748 ) |
Change in net unrealized appreciation/depreciation | (344,168,709 ) | (1,077,868,825 ) | 7,518,922 | (907,509,929 ) |
Change in net assets resulting from operations | (64,838,592 ) | (905,411,563 ) | 133,283,676 | (840,989,899 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Total distributions to shareholders | (154,798,545 ) | (152,620,697 ) | (149,063,924 ) | (267,459,428 ) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 262,338,554 | 631,036,936 | 413,671,860 | 407,341,684 |
NET ASSETS: | ||||
Change in net assets | 42,701,417 | (426,995,324 ) | 397,891,612 | (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 | $5,686,974,712 | $5,644,273,295 | $3,809,902,516 | $3,412,010,904 |
CAPITAL TRANSACTIONS: | ||||
Proceeds from shares issued | $729,964,543 | $890,586,159 | $599,967,907 | $581,070,458 |
Cost of shares redeemed | (467,625,989 ) | (259,549,223 ) | (186,296,047 ) | (173,728,774 ) |
Total change in net assets resulting from capital transactions | $262,338,554 | $631,036,936 | $413,671,860 | $407,341,684 |
SHARE TRANSACTIONS: | ||||
Issued | 12,300,000 | 13,350,000 | 11,550,000 | 11,000,000 |
Redeemed | (7,700,000 ) | (4,400,000 ) | (3,900,000 ) | (3,500,000 ) |
Net increase (decrease) in shares from share transactions | 4,600,000 | 8,950,000 | 7,650,000 | 7,500,000 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 211 |
JPMorgan BetaBuilders Emerging Markets Equity ETF | JPMorgan BetaBuilders Europe ETF | ||
Period Ended October 31, 2023 (a) | Year Ended October 31, 2023 | Year Ended October 31, 2022 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | |||
Net investment income (loss) | $7,160,694 | $240,438,252 | $248,401,924 |
Net realized gain (loss) | (1,025,916 ) | 307,603,821 | (276,059,377 ) |
Change in net unrealized appreciation/depreciation | (37,361,086 ) | 67,083,048 | (1,626,158,808 ) |
Change in net assets resulting from operations | (31,226,308 ) | 615,125,121 | (1,653,816,261 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | |||
Total distributions to shareholders | (6,595,002 ) | (236,546,537 ) | (309,349,480 ) |
CAPITAL TRANSACTIONS: | |||
Change in net assets resulting from capital transactions | 521,226,924 | 1,237,094,232 | (3,936,599,878 ) |
NET ASSETS: | |||
Change in net assets | 483,405,614 | 1,615,672,816 | (5,899,765,619 ) |
Beginning of period | — | 3,527,687,759 | 9,427,453,378 |
End of period | $483,405,614 | $5,143,360,575 | $3,527,687,759 |
CAPITAL TRANSACTIONS: | |||
Proceeds from shares issued | $521,696,199 | $5,755,955,092 | $3,919,047,179 |
Cost of shares redeemed | (469,275 ) | (4,518,860,860 ) | (7,855,647,057 ) |
Total change in net assets resulting from capital transactions | $521,226,924 | $1,237,094,232 | $(3,936,599,878 ) |
SHARE TRANSACTIONS: | |||
Issued | 10,800,000 | 109,050,000 | 78,900,000 |
Redeemed | — | (85,750,000 ) | (155,800,000 ) |
Net increase (decrease) in shares from share transactions | 10,800,000 | 23,300,000 | (76,900,000 ) |
212 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
JPMorgan BetaBuilders International Equity ETF | JPMorgan BetaBuilders Japan ETF | |||
Year Ended October 31, 2023 | Year Ended October 31, 2022 | Year Ended October 31, 2023 | Year Ended October 31, 2022 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $102,334,948 | $88,153,100 | $164,453,628 | $149,079,840 |
Net realized gain (loss) | 24,661,242 | 13,170,405 | (25,682,690 ) | (80,090,887 ) |
Change in net unrealized appreciation/depreciation | 261,606,407 | (892,730,954 ) | 946,314,427 | (2,108,806,716 ) |
Change in net assets resulting from operations | 388,602,597 | (791,407,449 ) | 1,085,085,365 | (2,039,817,763 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Total distributions to shareholders | (88,690,220 ) | (124,967,513 ) | (102,173,384 ) | (220,078,396 ) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 550,286,782 | (53,668,198 ) | 1,603,160,390 | 606,595,869 |
NET ASSETS: | ||||
Change in net assets | 850,199,159 | (970,043,160 ) | 2,586,072,371 | (1,653,300,290 ) |
Beginning of period | 2,710,097,518 | 3,680,140,678 | 6,211,237,563 | 7,864,537,853 |
End of period | $3,560,296,677 | $2,710,097,518 | $8,797,309,934 | $6,211,237,563 |
CAPITAL TRANSACTIONS: | ||||
Proceeds from shares issued | $829,640,586 | $275,139,027 | $1,810,441,192 | $1,208,227,460 |
Cost of shares redeemed | (279,353,804 ) | (328,807,225 ) | (207,280,802 ) | (601,631,591 ) |
Total change in net assets resulting from capital transactions | $550,286,782 | $(53,668,198 ) | $1,603,160,390 | $606,595,869 |
SHARE TRANSACTIONS: | ||||
Issued | 15,400,000 | 5,800,000 | 36,000,000 | 23,400,000 |
Redeemed | (5,400,000 ) | (6,000,000 ) | (4,300,000 ) | (12,000,000 ) |
Net increase (decrease) in shares from share transactions | 10,000,000 | (200,000 ) | 31,700,000 | 11,400,000 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 213 |
JPMorgan BetaBuilders U.S. Equity ETF | JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | |||
Year Ended October 31, 2023 | Year Ended October 31, 2022 | Year Ended October 31, 2023 | Year Ended October 31, 2022 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $26,495,941 | $15,423,970 | $22,537,760 | $19,122,942 |
Net realized gain (loss) | 24,298,633 | 4,487,198 | (28,126,236 ) | 346,144 |
Distributions of capital gains received from investment company affiliates | — | — | — | 604 |
Change in net unrealized appreciation/depreciation | 63,499,407 | (204,422,658 ) | (33,375,136 ) | (350,680,418 ) |
Change in net assets resulting from operations | 114,293,981 | (184,511,490 ) | (38,963,612 ) | (331,210,728 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Total distributions to shareholders | (24,912,196 ) | (14,262,272 ) | (22,224,476 ) | (18,142,752 ) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 807,133,106 | 692,691,398 | 84,786,233 | 41,293,712 |
NET ASSETS: | ||||
Change in net assets | 896,514,891 | 493,917,636 | 23,598,145 | (308,059,768 ) |
Beginning of period | 1,276,523,608 | 782,605,972 | 1,390,564,346 | 1,698,624,114 |
End of period | $2,173,038,499 | $1,276,523,608 | $1,414,162,491 | $1,390,564,346 |
CAPITAL TRANSACTIONS: | ||||
Proceeds from shares issued | $995,179,712 | $768,415,533 | $549,541,390 | $585,288,055 |
Cost of shares redeemed | (188,046,606 ) | (75,724,135 ) | (464,755,157 ) | (543,994,343 ) |
Total change in net assets resulting from capital transactions | $807,133,106 | $692,691,398 | $84,786,233 | $41,293,712 |
SHARE TRANSACTIONS: | ||||
Issued | 13,050,000 | 10,150,000 | 7,175,000 | 7,100,000 |
Redeemed | (2,600,000 ) | (1,050,000 ) | (6,050,000 ) | (6,475,000 ) |
Net increase (decrease) in shares from share transactions | 10,450,000 | 9,100,000 | 1,125,000 | 625,000 |
214 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF | JPMorgan Carbon Transition U.S. Equity ETF | |||
Year Ended October 31, 2023 | Year Ended October 31, 2022 | Year Ended October 31, 2023 | Year Ended October 31, 2022 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $11,065,965 | $6,140,418 | $303,381 | $310,617 |
Net realized gain (loss) | 16,660,435 | (14,173,562 ) | 2,054,177 | 585,627 |
Change in net unrealized appreciation/depreciation | (89,898,651 ) | (78,757,441 ) | (163,996 ) | (4,501,537 ) |
Change in net assets resulting from operations | (62,172,251 ) | (86,790,585 ) | 2,193,562 | (3,605,293 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Total distributions to shareholders | (10,398,310 ) | (6,135,146 ) | (313,724 ) | (316,660 ) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 201,531,188 | 145,626,501 | (17,154,380 ) | (63,760 ) |
NET ASSETS: | ||||
Change in net assets | 128,960,627 | 52,700,770 | (15,274,542 ) | (3,985,713 ) |
Beginning of period | 494,762,260 | 442,061,490 | 20,947,681 | 24,933,394 |
End of period | $623,722,887 | $494,762,260 | $5,673,139 | $20,947,681 |
CAPITAL TRANSACTIONS: | ||||
Proceeds from shares issued | $478,587,958 | $286,035,202 | $4,177,902 | $11,343,556 |
Cost of shares redeemed | (277,056,770 ) | (140,408,701 ) | (21,332,282 ) | (11,407,316 ) |
Total change in net assets resulting from capital transactions | $201,531,188 | $145,626,501 | $(17,154,380 ) | $(63,760 ) |
SHARE TRANSACTIONS: | ||||
Issued | 8,625,000 | 4,900,000 | 75,000 | 200,000 |
Redeemed | (5,050,000 ) | (2,400,000 ) | (375,000 ) | (200,000 ) |
Net increase (decrease) in shares from share transactions | 3,575,000 | 2,500,000 | (300,000 ) | — |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 215 |
JPMorgan Diversified Return Emerging Markets Equity ETF | JPMorgan Diversified Return International Equity ETF | |||
Year Ended October 31, 2023 | Year Ended October 31, 2022 | Year Ended October 31, 2023 | Year Ended October 31, 2022 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $11,177,230 | $6,881,979 | $22,166,755 | $27,582,338 |
Net realized gain (loss) | (4,876,927 ) | (2,496,820 ) | (2,043,729 ) | (28,259,394 ) |
Distributions of capital gains received from investment company affiliates | — | — | — | 42 |
Change in net unrealized appreciation/depreciation | 9,574,548 | (31,063,579 ) | 99,573,852 | (198,906,255 ) |
Change in net assets resulting from operations | 15,874,851 | (26,678,420 ) | 119,696,878 | (199,583,269 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Total distributions to shareholders | (10,712,059 ) | (8,578,159 ) | (21,332,208 ) | (41,010,274 ) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 100,409,884 | 45,300,057 | (416,251,431 ) | 69,639,461 |
NET ASSETS: | ||||
Change in net assets | 105,572,676 | 10,043,478 | (317,886,761 ) | (170,954,082 ) |
Beginning of period | 163,926,226 | 153,882,748 | 671,062,140 | 842,016,222 |
End of period | $269,498,902 | $163,926,226 | $353,175,379 | $671,062,140 |
CAPITAL TRANSACTIONS: | ||||
Proceeds from shares issued | $119,933,807 | $59,899,317 | $35,996,019 | $80,575,234 |
Cost of shares redeemed | (19,523,923 ) | (14,599,260 ) | (452,247,450 ) | (10,935,773 ) |
Total change in net assets resulting from capital transactions | $100,409,884 | $45,300,057 | $(416,251,431 ) | $69,639,461 |
SHARE TRANSACTIONS: | ||||
Issued | 2,400,000 | 1,200,000 | 700,000 | 1,500,000 |
Redeemed | (400,000 ) | (300,000 ) | (8,600,000 ) | (200,000 ) |
Net increase (decrease) in shares from share transactions | 2,000,000 | 900,000 | (7,900,000 ) | 1,300,000 |
216 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
JPMorgan Diversified Return U.S. Equity ETF | JPMorgan Diversified Return U.S. Mid Cap Equity ETF | |||
Year Ended October 31, 2023 | Year Ended October 31, 2022 | Year Ended October 31, 2023 | Year Ended October 31, 2022 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $11,334,670 | $12,658,003 | $6,090,886 | $4,478,181 |
Net realized gain (loss) | 19,512,453 | 90,675,199 | 13,390,937 | 20,573,310 |
Change in net unrealized appreciation/depreciation | (30,077,329 ) | (128,753,788 ) | (28,014,797 ) | (45,467,566 ) |
Change in net assets resulting from operations | 769,794 | (25,420,586 ) | (8,532,974 ) | (20,416,075 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Total distributions to shareholders | (11,826,601 ) | (12,386,546 ) | (5,959,752 ) | (4,185,258 ) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | (76,059,605 ) | (164,922,989 ) | 57,036,143 | 52,313,151 |
NET ASSETS: | ||||
Change in net assets | (87,116,412 ) | (202,730,121 ) | 42,543,417 | 27,711,818 |
Beginning of period | 507,282,453 | 710,012,574 | 267,520,530 | 239,808,712 |
End of period | $420,166,041 | $507,282,453 | $310,063,947 | $267,520,530 |
CAPITAL TRANSACTIONS: | ||||
Proceeds from shares issued | $88,108,412 | $116,289,482 | $179,548,242 | $119,917,257 |
Cost of shares redeemed | (164,168,017 ) | (281,212,471 ) | (122,512,099 ) | (67,604,106 ) |
Total change in net assets resulting from capital transactions | $(76,059,605 ) | $(164,922,989 ) | $57,036,143 | $52,313,151 |
SHARE TRANSACTIONS: | ||||
Issued | 925,000 | 1,200,000 | 2,100,000 | 1,400,000 |
Redeemed | (1,725,000 ) | (2,800,000 ) | (1,450,000 ) | (800,000 ) |
Net increase (decrease) in shares from share transactions | (800,000 ) | (1,600,000 ) | 650,000 | 600,000 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 217 |
JPMorgan Diversified Return U.S. Small Cap Equity ETF | JPMorgan U.S. Momentum Factor ETF | |||
Year Ended October 31, 2023 | Year Ended October 31, 2022 | Year Ended October 31, 2023 | Year Ended October 31, 2022 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $7,393,908 | $3,252,211 | $3,480,550 | $2,851,758 |
Net realized gain (loss) | (163,118 ) | 4,960,838 | (18,056,194 ) | 6,217,441 |
Change in net unrealized appreciation/depreciation | (28,884,944 ) | (31,220,087 ) | 25,907,183 | (61,390,929 ) |
Change in net assets resulting from operations | (21,654,154 ) | (23,007,038 ) | 11,331,539 | (52,321,730 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Total distributions to shareholders | (6,840,045 ) | (2,874,215 ) | (3,468,175 ) | (2,634,717 ) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 127,769,508 | 136,552,064 | 64,740,104 | 62,421,394 |
NET ASSETS: | ||||
Change in net assets | 99,275,309 | 110,670,811 | 72,603,468 | 7,464,947 |
Beginning of period | 286,932,997 | 176,262,186 | 229,323,118 | 221,858,171 |
End of period | $386,208,306 | $286,932,997 | $301,926,586 | $229,323,118 |
CAPITAL TRANSACTIONS: | ||||
Proceeds from shares issued | $264,275,154 | $185,306,143 | $72,582,485 | $162,800,375 |
Cost of shares redeemed | (136,505,646 ) | (48,754,079 ) | (7,842,381 ) | (100,378,981 ) |
Total change in net assets resulting from capital transactions | $127,769,508 | $136,552,064 | $64,740,104 | $62,421,394 |
SHARE TRANSACTIONS: | ||||
Issued | 6,600,000 | 4,550,000 | 1,750,000 | 3,750,000 |
Redeemed | (3,450,000 ) | (1,250,000 ) | (200,000 ) | (2,400,000 ) |
Net increase (decrease) in shares from share transactions | 3,150,000 | 3,300,000 | 1,550,000 | 1,350,000 |
218 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
JPMorgan U.S. Quality Factor ETF | JPMorgan U.S. Value Factor ETF | |||
Year Ended October 31, 2023 | Year Ended October 31, 2022 | Year Ended October 31, 2023 | Year Ended October 31, 2022 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $20,412,132 | $7,450,673 | $15,715,710 | $11,669,653 |
Net realized gain (loss) | 36,070,927 | 21,659,872 | 2,098,503 | (12,318,328 ) |
Distributions of capital gains received from investment company affiliates | — | — | — | 74 |
Change in net unrealized appreciation/depreciation | 7,321,870 | (80,812,994 ) | (16,775,755 ) | (55,817,799 ) |
Change in net assets resulting from operations | 63,804,929 | (51,702,449 ) | 1,038,458 | (56,466,400 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Total distributions to shareholders | (17,505,540 ) | (6,843,698 ) | (15,133,809 ) | (11,652,973 ) |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | 1,776,196,110 | 245,070,163 | 253,657,252 | 111,623,606 |
NET ASSETS: | ||||
Change in net assets | 1,822,495,499 | 186,524,016 | 239,561,901 | 43,504,233 |
Beginning of period | 579,728,107 | 393,204,091 | 444,083,720 | 400,579,487 |
End of period | $2,402,223,606 | $579,728,107 | $683,645,621 | $444,083,720 |
CAPITAL TRANSACTIONS: | ||||
Proceeds from shares issued | $2,091,392,700 | $519,385,603 | $686,426,951 | $372,923,059 |
Cost of shares redeemed | (315,196,590 ) | (274,315,440 ) | (432,769,699 ) | (261,299,453 ) |
Total change in net assets resulting from capital transactions | $1,776,196,110 | $245,070,163 | $253,657,252 | $111,623,606 |
SHARE TRANSACTIONS: | ||||
Issued | 49,250,000 | 13,150,000 | 19,700,000 | 10,450,000 |
Redeemed | (7,500,000 ) | (7,000,000 ) | (12,700,000 ) | (7,750,000 ) |
Net increase (decrease) in shares from share transactions | 41,750,000 | 6,150,000 | 7,000,000 | 2,700,000 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 219 |
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 | |||||
Year Ended October 31, 2023 | $57.30 | $1.63 | $(2.21 ) | $(0.58 ) | $(1.56 ) |
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 ) |
JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF | |||||
Year Ended October 31, 2023 | 42.76 | 2.00 | 0.51 | 2.51 | (1.70 ) |
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 ) |
JPMorgan BetaBuilders Emerging Markets Equity ETF | |||||
May 10, 2023 (h) through October 31, 2023 | 47.67 | 0.80 | (3.09 ) | (2.29 ) | (0.62 ) |
JPMorgan BetaBuilders Europe ETF | |||||
Year Ended October 31, 2023 | 43.61 | 1.92 | 5.46 | 7.38 | (1.63 ) |
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 ) |
(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. |
(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. |
220 | J.P. Morgan Exchange-Traded Funds | October 31, 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) |
$55.16 | $55.17 | (1.15 )% | (1.22 )% | $5,686,974,712 | 0.19 % | 2.73 % | 0.19 % | 3 % |
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 |
43.57 | 43.56 | 5.55 | 5.45 | 3,809,902,516 | 0.19 | 4.14 | 0.19 | 6 |
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 |
44.76 | 44.86 | (4.88 ) | (4.67 ) | 483,405,614 | 0.15 | 3.47 | 0.15 | 14 |
49.36 | 49.40 | 16.74 | 16.81 | 5,143,360,575 | 0.09 | 3.64 | 0.09 | 6 |
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 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 221 |
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 | |||||
Year Ended October 31, 2023 | $44.72 | $1.60 | $5.49 | $7.09 | $(1.38 ) |
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 | |||||
Year Ended October 31, 2023 | 41.69 | 1.03 | 6.65 | 7.68 | (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 ) |
JPMorgan BetaBuilders U.S. Equity ETF | |||||
Year Ended October 31, 2023 | 69.38 | 1.19 | 5.89 | 7.08 | (1.14 ) |
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 | |||||
Year Ended October 31, 2023 | 74.06 | 1.14 | (3.00 ) | (1.86 ) | (1.14 ) |
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 | |||||
Year Ended October 31, 2023 | 54.67 | 0.92 | (5.30 ) | (4.38 ) | (0.89 ) |
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. |
(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. |
222 | J.P. Morgan Exchange-Traded Funds | October 31, 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) |
$50.43 | $50.62 | 15.69 % | 16.04 % | $3,560,296,677 | 0.07 % | 3.02 % | 0.07 % | 5 % |
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 |
48.69 | 49.19 | 18.54 | 19.65 | 8,797,309,934 | 0.19 | 2.11 | 0.19 | 3 |
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 |
75.32 | 75.33 | 10.25 | 10.20 | 2,173,038,499 | 0.02 | 1.58 | 0.02 | 3 |
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 |
71.06 | 71.06 | (2.57 ) | (2.39 ) | 1,414,162,491 | 0.07 | 1.49 | 0.07 | 25 |
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 |
49.40 | 49.32 | (8.15 ) | (7.81 ) | 623,722,887 | 0.09 | 1.67 | 0.09 | 41 |
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 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 223 |
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 | |||||
Year Ended October 31, 2023 | $52.37 | $0.77 | $4.37 | $5.14 | $(0.78 ) |
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 | |||||
Year Ended October 31, 2023 | 45.54 | 2.11 | 2.38 | 4.49 | (1.91 ) |
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 ) |
JPMorgan Diversified Return International Equity ETF | |||||
Year Ended October 31, 2023 | 44.44 | 1.84 | 5.02 | 6.86 | (2.25 ) |
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 ) |
JPMorgan Diversified Return U.S. Equity ETF | |||||
Year Ended October 31, 2023 | 93.94 | 2.24 | (2.49 ) | (0.25 ) | (2.35 ) |
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 ) |
(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. |
224 | J.P. Morgan Exchange-Traded Funds | October 31, 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) |
$56.73 | $56.74 | 9.85 % | 9.85 % | $5,673,139 | 0.15 % | 1.36 % | 0.15 % | 20 % |
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 |
48.12 | 47.99 | 9.72 | 8.78 | 269,498,902 | 0.44 | 4.17 | 0.44 | 33 |
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 |
49.05 | 49.17 | 15.22 | 15.26 | 353,175,379 | 0.37 | 3.57 | 0.37 | 26 |
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 |
91.34 | 91.34 | (0.34 ) | (0.45 ) | 420,166,041 | 0.18 | 2.33 | 0.18 | 28 |
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 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 225 |
Per share operating performance | |||||
Investment operations | Distributions | ||||
Net asset value, beginning of period | Net investment income (loss) (a) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | |
JPMorgan Diversified Return U.S. Mid Cap Equity ETF | |||||
Year Ended October 31, 2023 | $83.60 | $1.62 | $(3.04 ) | $(1.42 ) | $(1.64 ) |
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 ) |
JPMorgan Diversified Return U.S. Small Cap Equity ETF | |||||
Year Ended October 31, 2023 | 39.85 | 0.81 | (2.59 ) | (1.78 ) | (0.76 ) |
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 ) |
(a) | Calculated based upon average shares outstanding. |
(b) | 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. |
(c) | 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. |
(d) | 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. |
226 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Ratios/Supplemental data | ||||||||
Ratios to average net assets | ||||||||
Net asset value, end of period | Market price, end of period | Total return (b) | Market price total return (c) | Net assets, end of period | Net expenses | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate |
$80.54 | $80.44 | (1.78 )% | (1.85 )% | $310,063,947 | 0.24 % | 1.89 % | 0.24 % | 24 % |
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 (d) | 25 |
37.31 | 37.30 | (4.55 ) | (4.77 ) | 386,208,306 | 0.29 | 2.01 | 0.29 | 28 |
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 (d) | 43 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 227 |
Per share operating performance | |||||
Investment operations | Distributions | ||||
Net asset value, beginning of period | Net investment income (loss) (a) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Net investment income | |
JPMorgan U.S. Momentum Factor ETF | |||||
Year Ended October 31, 2023 | $38.22 | $0.55 | $1.77 | $2.32 | $(0.55 ) |
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 ) |
JPMorgan U.S. Quality Factor ETF | |||||
Year Ended October 31, 2023 | 38.14 | 0.65 | 3.97 | 4.62 | (0.58 ) |
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 ) |
JPMorgan U.S. Value Factor ETF | |||||
Year Ended October 31, 2023 | 32.90 | 0.87 | 0.49 | 1.36 | (0.91 ) |
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 ) |
(a) | Calculated based upon average shares outstanding. |
(b) | 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. |
(c) | 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. |
(d) | 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. |
228 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Ratios/Supplemental data | ||||||||
Ratios to average net assets | ||||||||
Net asset value, end of period | Market price, end of period | Total return (b) | Market price total return (c) | Net assets, end of period | Net expenses | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate |
$39.99 | $39.99 | 6.10 % | 6.02 % | $301,926,586 | 0.12 % | 1.36 % | 0.12 % | 43 % |
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 (d) | 52 |
42.18 | 42.20 | 12.15 | 12.14 | 2,402,223,606 | 0.12 | 1.54 | 0.12 | 21 |
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 (d) | 21 |
33.35 | 33.33 | 4.11 | 4.11 | 683,645,621 | 0.12 | 2.53 | 0.12 | 26 |
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 (d) | 22 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 229 |
Diversification Classification | |
JPMorgan BetaBuilders Canada ETF | Diversified |
JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF | Diversified |
JPMorgan BetaBuilders Emerging Markets Equity ETF(1) | 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 |
(1) | Commenced operations on May 10, 2023. |
230 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Listing Exchange | |
BetaBuilders Canada ETF | Cboe BZX Exchange, Inc. |
BetaBuilders Developed Asia Pacific ex-Japan ETF | Cboe BZX Exchange, Inc. |
BetaBuilders Emerging Markets Equity 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, Inc. |
BetaBuilders U.S. Small Cap Equity ETF | NYSE Arca, Inc. |
Carbon Transition U.S. Equity ETF | NYSE Arca, Inc. |
Emerging Markets Equity ETF | NYSE Arca, Inc. |
International Equity ETF | NYSE Arca, Inc. |
U.S. Equity ETF | NYSE Arca, Inc. |
U.S. Mid Cap Equity ETF | NYSE Arca, Inc. |
U.S. Small Cap Equity ETF | NYSE Arca, Inc. |
U.S. Momentum Factor ETF | NYSE Arca, Inc. |
U.S. Quality Factor ETF | NYSE Arca, Inc. |
U.S. Value Factor ETF | NYSE Arca, Inc. |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 231 |
232 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
BetaBuilders Canada ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | $5,656,159,388 | $— | $— | $5,656,159,388 |
Warrants | — | — | — (a) | — (a) |
Short-Term Investments | ||||
Investment of Cash Collateral from Securities Loaned | 184,371,831 | — | — | 184,371,831 |
Total Investments in Securities | $5,840,531,219 | $— | $— (a) | $5,840,531,219 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts | $(957,068 ) | $— | $— | $(957,068 ) |
(a) | Value is zero. |
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 | $— | $2,277,734,618 | $— | $2,277,734,618 |
China | — | 92,660,221 | — | 92,660,221 |
Hong Kong | — | 657,955,338 | — | 657,955,338 |
Macau | — | 42,663,915 | — | 42,663,915 |
New Zealand | 44,275,798 | 21,167,087 | — | 65,442,885 |
Singapore | — | 428,928,083 | — | 428,928,083 |
United Kingdom | — | 32,466,973 | — | 32,466,973 |
United States | — | 196,810,028 | — | 196,810,028 |
Total Common Stocks | 44,275,798 | 3,750,386,263 | — | 3,794,662,061 |
Short-Term Investments | ||||
Investment of Cash Collateral from Securities Loaned | 11,792,130 | — | — | 11,792,130 |
Total Investments in Securities | $56,067,928 | $3,750,386,263 | $— | $3,806,454,191 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts | $(11,725 ) | $— | $— | $(11,725 ) |
BetaBuilders 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 | $— | $71,028 | $— | $71,028 |
Brazil | 24,633,411 | — | — | 24,633,411 |
Chile | 2,335,520 | — | — | 2,335,520 |
China | 8,294,985 | 125,949,215 | — | 134,244,200 |
Colombia | 976,855 | — | — | 976,855 |
Czech Republic | 529,388 | 167,762 | — | 697,150 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 233 |
BetaBuilders Emerging Markets Equity ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Egypt | $— | $345,094 | $— | $345,094 |
Greece | 606,888 | 975,922 | — | 1,582,810 |
Hong Kong | — | 547,785 | — | 547,785 |
Hungary | 483,026 | 613,796 | — | 1,096,822 |
India | 1,681,706 | 81,500,122 | — | 83,181,828 |
Indonesia | 1,159,197 | 8,843,940 | — | 10,003,137 |
Kuwait | — | 3,930,487 | — | 3,930,487 |
Luxembourg | 151,018 | — | — | 151,018 |
Malaysia | 1,649,569 | 6,164,501 | — | 7,814,070 |
Mexico | 9,793,550 | — | — | 9,793,550 |
Peru | 770,621 | — | — | 770,621 |
Philippines | 1,392,418 | 2,313,249 | — | 3,705,667 |
Qatar | 3,267,785 | 865,471 | — | 4,133,256 |
Saudi Arabia | 2,894,302 | 15,413,715 | — | 18,308,017 |
South Africa | 8,560,531 | 4,787,318 | — | 13,347,849 |
South Korea | — | 57,007,796 | — | 57,007,796 |
Taiwan | 228,688 | 72,262,579 | — | 72,491,267 |
Thailand | — | 8,418,787 | — | 8,418,787 |
Turkey | 1,835,979 | 1,724,129 | — | 3,560,108 |
United Arab Emirates | 12,935,842 | 1,561,909 | — | 14,497,751 |
United Kingdom | — | 563,282 | — | 563,282 |
United States | 199,484 | 196,721 | — | 396,205 |
Total Common Stocks | 84,380,763 | 394,224,608 | — | 478,605,371 |
Rights | ||||
Kuwait | 433 | — | — | 433 |
Taiwan | — | 785 | — | 785 |
Total Rights | 433 | 785 | — | 1,218 |
Short-Term Investments | ||||
Investment Companies | 4,440,195 | — | — | 4,440,195 |
Total Investments in Securities | $88,821,391 | $394,225,393 | $— | $483,046,784 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts | $(242,212 ) | $— | $— | $(242,212 ) |
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 | $— | $87,593,785 | $— | $87,593,785 |
Austria | 1,611,229 | 25,470,076 | — | 27,081,305 |
Belgium | — | 73,488,258 | — | 73,488,258 |
Brazil | — | 2,946,938 | — | 2,946,938 |
Chile | — | 3,116,864 | — | 3,116,864 |
China | 23,421,036 | — | — | 23,421,036 |
Denmark | — | 262,641,353 | — | 262,641,353 |
Finland | 4,500,558 | 89,477,517 | — | 93,978,075 |
234 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
BetaBuilders Europe ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
France | $— | $784,531,957 | $— | $784,531,957 |
Germany | — | 609,098,207 | — | 609,098,207 |
Hong Kong | — | 15,904,492 | — | 15,904,492 |
Ireland | — | 17,084,616 | — | 17,084,616 |
Italy | — | 196,615,718 | — | 196,615,718 |
Jordan | — | 2,184,749 | — | 2,184,749 |
Luxembourg | — | 9,250,193 | — | 9,250,193 |
Mexico | — | 685,026 | — | 685,026 |
Netherlands | 4,309,399 | 420,382,489 | — | 424,691,888 |
Norway | — | 59,297,203 | — | 59,297,203 |
Poland | — | 27,540,282 | — | 27,540,282 |
Portugal | — | 14,138,111 | — | 14,138,111 |
Russia | — | — | 22,579 | 22,579 |
Singapore | — | 13,817,701 | — | 13,817,701 |
South Africa | — | 18,828,413 | — | 18,828,413 |
South Korea | — | 2,816,104 | — | 2,816,104 |
Spain | 837,022 | 195,071,065 | — | 195,908,087 |
Sweden | 491,943 | 246,113,108 | — | 246,605,051 |
Switzerland | 6,312,318 | 432,471,150 | — | 438,783,468 |
United Arab Emirates | — | — | — (a) | — (a) |
United Kingdom | 17,791,013 | 907,113,715 | — | 924,904,728 |
United States | — | 506,684,125 | — | 506,684,125 |
Total Common Stocks | 59,274,518 | 5,024,363,215 | 22,579 | 5,083,660,312 |
Short-Term Investments | ||||
Investment of Cash Collateral from Securities Loaned | 43,392,389 | — | — | 43,392,389 |
Total Investments in Securities | $102,666,907 | $5,024,363,215 | $22,579 | $5,127,052,701 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts | $(2,270,917 ) | $— | $— | $(2,270,917 ) |
(a) | Value is zero. |
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 | $— | $269,296,710 | $— | $269,296,710 |
Austria | 707,569 | 11,172,308 | — | 11,879,877 |
Belgium | — | 32,241,994 | — | 32,241,994 |
Brazil | — | 1,293,531 | — | 1,293,531 |
Chile | — | 1,368,133 | — | 1,368,133 |
China | 10,280,009 | 9,400,251 | — | 19,680,260 |
Denmark | — | 115,274,912 | — | 115,274,912 |
Finland | 1,978,700 | 39,279,536 | — | 41,258,236 |
France | — | 344,341,508 | — | 344,341,508 |
Germany | — | 267,346,626 | — | 267,346,626 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 235 |
BetaBuilders International Equity ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Hong Kong | $— | $73,653,517 | $— | $73,653,517 |
Ireland | — | 7,499,042 | — | 7,499,042 |
Israel | — | 14,648,905 | — | 14,648,905 |
Italy | — | 86,277,466 | — | 86,277,466 |
Japan | 582,907 | 885,307,124 | — | 885,890,031 |
Jordan | — | 958,964 | — | 958,964 |
Luxembourg | — | 4,060,307 | — | 4,060,307 |
Macau | — | 4,316,035 | — | 4,316,035 |
Mexico | — | 296,348 | — | 296,348 |
Netherlands | 2,220,766 | 184,201,317 | — | 186,422,083 |
New Zealand | 4,488,013 | 2,136,641 | — | 6,624,654 |
Norway | — | 26,004,068 | — | 26,004,068 |
Poland | — | 12,075,179 | — | 12,075,179 |
Portugal | — | 6,205,709 | — | 6,205,709 |
Russia | — | — | 4,798 | 4,798 |
Singapore | — | 49,510,824 | — | 49,510,824 |
South Africa | — | 8,264,185 | — | 8,264,185 |
South Korea | — | 1,236,021 | — | 1,236,021 |
Spain | 362,092 | 85,622,865 | — | 85,984,957 |
Sweden | 213,706 | 107,963,609 | — | 108,177,315 |
Switzerland | 2,829,660 | 189,839,072 | — | 192,668,732 |
United Arab Emirates | — | — | — (a) | — (a) |
United Kingdom | 7,808,664 | 401,439,715 | — | 409,248,379 |
United States | — | 242,345,041 | — | 242,345,041 |
Total Common Stocks | 31,472,086 | 3,484,877,463 | 4,798 | 3,516,354,347 |
Short-Term Investments | ||||
Investment Companies | 26,299,048 | — | — | 26,299,048 |
Investment of Cash Collateral from Securities Loaned | 13,281,651 | — | — | 13,281,651 |
Total Short-Term Investments | 39,580,699 | — | — | 39,580,699 |
Total Investments in Securities | $71,052,785 | $3,484,877,463 | $4,798 | $3,555,935,046 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts | $(2,144,748 ) | $— | $— | $(2,144,748 ) |
(a) | Value is zero. |
BetaBuilders Japan ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | ||||
Air Freight & Logistics | $— | $39,697,076 | $— | $39,697,076 |
Automobile Components | — | 180,733,365 | — | 180,733,365 |
Automobiles | — | 783,824,817 | — | 783,824,817 |
Banks | — | 648,910,223 | — | 648,910,223 |
Beverages | — | 79,689,710 | — | 79,689,710 |
236 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
BetaBuilders Japan ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Broadline Retail | $— | $37,428,351 | $— | $37,428,351 |
Building Products | — | 134,989,047 | — | 134,989,047 |
Capital Markets | — | 84,075,814 | — | 84,075,814 |
Chemicals | — | 326,930,176 | — | 326,930,176 |
Commercial Services & Supplies | — | 68,653,388 | — | 68,653,388 |
Construction & Engineering | — | 58,914,246 | — | 58,914,246 |
Consumer Finance | — | 9,657,982 | — | 9,657,982 |
Consumer Staples Distribution & Retail | 5,756,813 | 146,680,937 | — | 152,437,750 |
Diversified REITs | — | 28,709,470 | — | 28,709,470 |
Diversified Telecommunication Services | — | 83,397,033 | — | 83,397,033 |
Electric Utilities | — | 54,867,862 | — | 54,867,862 |
Electrical Equipment | — | 117,528,893 | — | 117,528,893 |
Electronic Equipment, Instruments & Components | — | 413,529,602 | — | 413,529,602 |
Entertainment | — | 180,616,447 | — | 180,616,447 |
Financial Services | — | 74,324,279 | — | 74,324,279 |
Food Products | — | 142,973,255 | — | 142,973,255 |
Gas Utilities | — | 40,151,745 | — | 40,151,745 |
Ground Transportation | — | 241,302,480 | — | 241,302,480 |
Health Care Equipment & Supplies | — | 197,044,054 | — | 197,044,054 |
Health Care Providers & Services | — | 8,367,825 | — | 8,367,825 |
Health Care Technology | — | 15,633,751 | — | 15,633,751 |
Hotels, Restaurants & Leisure | — | 97,110,558 | — | 97,110,558 |
Household Durables | — | 378,889,559 | — | 378,889,559 |
Household Products | — | 42,191,816 | — | 42,191,816 |
Industrial Conglomerates | — | 155,571,677 | — | 155,571,677 |
Industrial REITs | — | 20,753,156 | — | 20,753,156 |
Insurance | — | 303,957,610 | — | 303,957,610 |
Interactive Media & Services | — | 16,154,567 | — | 16,154,567 |
IT Services | — | 181,838,530 | — | 181,838,530 |
Leisure Products | — | 77,501,347 | — | 77,501,347 |
Machinery | — | 401,298,688 | — | 401,298,688 |
Marine Transportation | — | 51,797,400 | — | 51,797,400 |
Media | — | 26,755,244 | — | 26,755,244 |
Metals & Mining | — | 86,124,114 | — | 86,124,114 |
Office REITs | — | 36,268,371 | — | 36,268,371 |
Oil, Gas & Consumable Fuels | — | 73,991,382 | — | 73,991,382 |
Paper & Forest Products | — | 10,287,185 | — | 10,287,185 |
Passenger Airlines | — | 13,731,287 | — | 13,731,287 |
Personal Care Products | — | 81,527,483 | — | 81,527,483 |
Pharmaceuticals | — | 481,135,628 | — | 481,135,628 |
Professional Services | — | 121,869,713 | — | 121,869,713 |
Real Estate Management & Development | — | 204,475,586 | — | 204,475,586 |
Residential REITs | — | 7,146,609 | — | 7,146,609 |
Retail REITs | — | 10,695,335 | — | 10,695,335 |
Semiconductors & Semiconductor Equipment | — | 331,367,630 | — | 331,367,630 |
Software | — | 18,205,530 | — | 18,205,530 |
Specialty Retail | — | 145,812,759 | — | 145,812,759 |
Technology Hardware, Storage & Peripherals | — | 142,587,312 | — | 142,587,312 |
Textiles, Apparel & Luxury Goods | — | 14,241,972 | — | 14,241,972 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 237 |
BetaBuilders Japan ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Tobacco | $— | $60,715,956 | $— | $60,715,956 |
Trading Companies & Distributors | — | 577,923,075 | — | 577,923,075 |
Transportation Infrastructure | — | 9,701,777 | — | 9,701,777 |
Wireless Telecommunication Services | — | 280,384,165 | — | 280,384,165 |
Total Common Stocks | 5,756,813 | 8,660,644,849 | — | 8,666,401,662 |
Short-Term Investments | ||||
Investment of Cash Collateral from Securities Loaned | 8,669,611 | — | — | 8,669,611 |
Total Investments in Securities | $14,426,424 | $8,660,644,849 | $— | $8,675,071,273 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts | $(2,143,130 ) | $— | $— | $(2,143,130 ) |
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 | $2,154,991,230 | $— | $— | $2,154,991,230 |
Rights | — | — | 1,765 | 1,765 |
Short-Term Investments | ||||
Investment Companies | 15,413,521 | — | — | 15,413,521 |
Investment of Cash Collateral from Securities Loaned | 44,558,464 | — | — | 44,558,464 |
Total Short-Term Investments | 59,971,985 | — | — | 59,971,985 |
Total Investments in Securities | $2,214,963,215 | $— | $1,765 | $2,214,964,980 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts | $(937,765 ) | $— | $— | $(937,765 ) |
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) | $1,565,949,444 | $— | $— | $1,565,949,444 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $(1,131,962 ) | $— | $— | $(1,131,962 ) |
(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) | $727,163,599 | $— | $— (b) | $727,163,599 |
238 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
BetaBuilders U.S. Small Cap Equity ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Depreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $(382,230 ) | $— | $— | $(382,230 ) |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
(b) | Value is zero. |
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) | $5,646,985 | $— | $— | $5,646,985 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $(743 ) | $— | $— | $(743 ) |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
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 | $24,027,463 | $— | $— | $24,027,463 |
Chile | 3,325,451 | — | — | 3,325,451 |
China | 6,861,430 | 54,583,621 | — | 61,445,051 |
Colombia | 470,212 | — | — | 470,212 |
Czech Republic | 1,059,074 | 252,987 | — | 1,312,061 |
Egypt | — | 481,121 | — | 481,121 |
Greece | 1,790,792 | 2,729,352 | — | 4,520,144 |
Hong Kong | — | 243,826 | — | 243,826 |
Hungary | 1,519,892 | — | — | 1,519,892 |
India | 788,929 | 28,665,185 | — | 29,454,114 |
Indonesia | 2,285,093 | 9,333,727 | — | 11,618,820 |
Kuwait | 345,830 | 3,791,760 | — | 4,137,590 |
Malaysia | 2,994,402 | 2,658,754 | — | 5,653,156 |
Mexico | 20,207,300 | — | — | 20,207,300 |
Pakistan | 344,930 | — | — | 344,930 |
Philippines | 532,813 | 284,516 | — | 817,329 |
Qatar | 2,648,601 | 1,808,064 | — | 4,456,665 |
Romania | 284,052 | — | — | 284,052 |
Russia | — | — | 116,731 | 116,731 |
Saudi Arabia | 3,721,813 | 9,272,214 | — | 12,994,027 |
South Africa | 6,374,206 | 1,957,155 | — | 8,331,361 |
Taiwan | — | 30,744,074 | — | 30,744,074 |
Thailand | 314,475 | 9,742,536 | — | 10,057,011 |
Turkey | 18,536,633 | 6,606,051 | — | 25,142,684 |
United Arab Emirates | 5,047,647 | 1,387,367 | — | 6,435,014 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 239 |
Emerging Markets Equity ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
United States | $685,200 | $— | $— | $685,200 |
Total Common Stocks | 104,166,238 | 164,542,310 | 116,731 | 268,825,279 |
Total Investments in Securities | $104,166,238 | $164,542,310 | $116,731 | $268,825,279 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts | $(24,505 ) | $— | $— | $(24,505 ) |
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 | $— | $38,750,638 | $— | $38,750,638 |
Austria | — | 1,849,299 | — | 1,849,299 |
Belgium | — | 787,695 | — | 787,695 |
Brazil | — | 957,804 | — | 957,804 |
Burkina Faso | — | 427,085 | — | 427,085 |
Cambodia | — | 31,334 | — | 31,334 |
Chile | — | 1,113,556 | — | 1,113,556 |
China | — | 4,190,701 | — | 4,190,701 |
Denmark | — | 2,582,406 | — | 2,582,406 |
Finland | 969,843 | 2,740,236 | — | 3,710,079 |
France | — | 16,611,936 | — | 16,611,936 |
Germany | — | 8,756,464 | — | 8,756,464 |
Hong Kong | — | 10,457,349 | — | 10,457,349 |
Indonesia | — | 109,784 | — | 109,784 |
Ireland | — | 390,304 | — | 390,304 |
Italy | — | 8,804,417 | — | 8,804,417 |
Japan | 1,185,085 | 102,650,904 | — | 103,835,989 |
Jordan | — | 1,262,138 | — | 1,262,138 |
Luxembourg | — | 421,566 | — | 421,566 |
Mexico | — | 543,226 | — | 543,226 |
Netherlands | — | 11,555,231 | — | 11,555,231 |
New Zealand | 783,483 | 996,627 | — | 1,780,110 |
Norway | — | 3,714,593 | — | 3,714,593 |
Poland | — | 501,966 | — | 501,966 |
Portugal | — | 1,152,974 | — | 1,152,974 |
Russia | — | — | 19,577 | 19,577 |
Singapore | — | 12,444,418 | — | 12,444,418 |
South Africa | — | 1,068,284 | — | 1,068,284 |
South Korea | — | 24,417,503 | — | 24,417,503 |
Spain | — | 8,592,550 | — | 8,592,550 |
Sweden | — | 7,381,828 | — | 7,381,828 |
Switzerland | 77,659 | 4,817,936 | — | 4,895,595 |
United Kingdom | 2,777,607 | 53,457,907 | — | 56,235,514 |
240 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
International Equity ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
United States | $— | $11,074,935 | $— | $11,074,935 |
Total Common Stocks | 5,793,677 | 344,615,594 | 19,577 | 350,428,848 |
Short-Term Investments | ||||
Investment Companies | 424,062 | — | — | 424,062 |
Investment of Cash Collateral from Securities Loaned | 2,124,162 | — | — | 2,124,162 |
Total Short-Term Investments | 2,548,224 | — | — | 2,548,224 |
Total Investments in Securities | $8,341,901 | $344,615,594 | $19,577 | $352,977,072 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts | $(95,561 ) | $— | $— | $(95,561 ) |
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) | $440,142,196 | $— | $— | $440,142,196 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $508 | $— | $— | $508 |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
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) | $336,170,537 | $— | $— | $336,170,537 |
Appreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $3,758 | $— | $— | $3,758 |
(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 | $524,342 | $— | $— | $524,342 |
Automobiles & Parts | 947,772 | — | — | 947,772 |
Banks | 19,014,862 | — | — | 19,014,862 |
Beverages | 5,434,798 | — | — | 5,434,798 |
Chemicals | 11,984,393 | — | — | 11,984,393 |
Construction & Materials | 8,164,306 | — | — | 8,164,306 |
Consumer Services | 4,368,255 | — | — | 4,368,255 |
Electricity | 5,702,262 | — | — | 5,702,262 |
Electronic & Electrical Equipment | 4,945,850 | — | — | 4,945,850 |
Finance & Credit Services | 7,366,492 | — | — | 7,366,492 |
Food Producers | 17,078,502 | — | — | 17,078,502 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 241 |
U.S. Small Cap Equity ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Gas, Water & Multi-utilities | $13,010,511 | $— | $— | $13,010,511 |
General Industrials | 5,539,502 | — | — | 5,539,502 |
Health Care Providers | 10,277,039 | — | — | 10,277,039 |
Household Goods & Home Construction | 11,278,446 | — | — | 11,278,446 |
Industrial Engineering | 3,655,290 | — | — | 3,655,290 |
Industrial Materials | 7,859,349 | — | — | 7,859,349 |
Industrial Metals & Mining | 13,659,157 | — | — | 13,659,157 |
Industrial Support Services | 9,400,516 | — | — | 9,400,516 |
Industrial Transportation | 13,808,654 | — | — | 13,808,654 |
Investment Banking & Brokerage Services | 4,558,057 | — | — | 4,558,057 |
Leisure Goods | 4,386,532 | — | — | 4,386,532 |
Life Insurance | 5,383,209 | — | — | 5,383,209 |
Media | 1,562,558 | — | — | 1,562,558 |
Medical Equipment & Services | 11,241,414 | — | — | 11,241,414 |
Mortgage Real Estate Investment Trusts | 7,225,436 | — | — | 7,225,436 |
Nonequity Investment Instruments | 44,608 | — | — (a) | 44,608 |
Non-life Insurance | 4,518,535 | — | — | 4,518,535 |
Non-Renewable Energy | 25,251,763 | — | — | 25,251,763 |
Personal Care, Drug & Grocery Stores | 9,502,281 | — | — | 9,502,281 |
Personal Goods | 4,554,832 | — | — | 4,554,832 |
Pharmaceuticals, Biotechnology & Marijuana Producers | 13,649,108 | — | 32,424 | 13,681,532 |
Precious Metals & Mining | 836,214 | — | — | 836,214 |
Real Estate Investment & Services | 4,571,411 | — | — | 4,571,411 |
Real Estate Investment Trusts | 42,735,787 | — | — | 42,735,787 |
Renewable Energy | 1,657,166 | — | — | 1,657,166 |
Retailers | 9,614,751 | — | — | 9,614,751 |
Software & Computer Services | 11,259,384 | — | — | 11,259,384 |
Technology Hardware & Equipment | 24,062,026 | — | — | 24,062,026 |
Telecommunications Equipment | 9,457,200 | — | — | 9,457,200 |
Telecommunications Service Providers | 9,909,564 | — | — | 9,909,564 |
Tobacco | 2,495,575 | — | — | 2,495,575 |
Travel & Leisure | 1,779,930 | — | — | 1,779,930 |
Waste & Disposal Services | 1,338,254 | — | — | 1,338,254 |
Total Common Stocks | 385,615,893 | — | 32,424 | 385,648,317 |
Rights | — | — | 6,378 | 6,378 |
Short-Term Investments | ||||
Investment Companies | 365,657 | — | — | 365,657 |
Investment of Cash Collateral from Securities Loaned | 49,275,282 | — | — | 49,275,282 |
Total Short-Term Investments | 49,640,939 | — | — | 49,640,939 |
Total Investments in Securities | $435,256,832 | $— | $38,802 | $435,295,634 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts | $(22,124 ) | $— | $— | $(22,124 ) |
(a) | Value is zero. |
242 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
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) | $302,312,863 | $— | $— (b) | $302,312,863 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $(1,950 ) | $— | $— | $(1,950 ) |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
(b) | Value is zero. |
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) | $2,495,606,856 | $— | $— | $2,495,606,856 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $(58,376 ) | $— | $— | $(58,376 ) |
(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) | $717,317,113 | $— | $— | $717,317,113 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $(12,571 ) | $— | $— | $(12,571 ) |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 243 |
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 | $174,280,525 | $(174,280,525 ) | $— |
BetaBuilders Developed Asia Pacific ex-Japan ETF | 11,180,067 | (11,180,067 ) | — |
BetaBuilders Europe ETF | 41,286,855 | (41,286,855 ) | — |
BetaBuilders International Equity ETF | 12,645,686 | (12,645,686 ) | — |
BetaBuilders Japan ETF | 8,163,766 | (8,163,766 ) | — |
BetaBuilders U.S. Equity ETF | 44,049,242 | (44,049,242 ) | — |
BetaBuilders U.S. Mid Cap Equity ETF | 154,016,364 | (154,016,364 ) | — |
BetaBuilders U.S. Small Cap Equity ETF | 102,117,546 | (102,117,546 ) | — |
International Equity ETF | 2,021,253 | (2,021,253 ) | — |
U.S. Equity ETF | 20,157,750 | (20,157,750 ) | — |
U.S. Mid Cap Equity ETF | 25,944,054 | (25,944,054 ) | — |
U.S. Small Cap Equity ETF | 47,876,291 | (47,876,291 ) | — |
U.S. Momentum Factor ETF | 562,229 | (562,229 ) | — |
U.S. Quality Factor ETF | 93,954,626 | (93,954,626 ) | — |
U.S. Value Factor ETF | 33,450,655 | (33,450,655 ) | — |
* | Collateral posted reflects the value of securities on loan and does not include any additional amounts received from the borrower. |
244 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
BetaBuilders Canada ETF | $127,641 |
BetaBuilders Developed Asia Pacific ex-Japan ETF | 2,592 |
BetaBuilders Europe ETF | 12,867 |
BetaBuilders International Equity ETF | 4,048 |
BetaBuilders Japan ETF | 9,445 |
BetaBuilders U.S. Equity ETF | 134 |
BetaBuilders U.S. Mid Cap Equity ETF | 8,039 |
BetaBuilders U.S. Small Cap Equity ETF | 4,275 |
Emerging Markets Equity ETF | 48 |
International Equity ETF | 1,489 |
U.S. Equity ETF | 708 |
U.S. Mid Cap Equity ETF | 868 |
U.S. Small Cap Equity ETF | 2,306 |
U.S. Momentum Factor ETF | 619 |
U.S. Quality Factor ETF | 2,904 |
U.S. Value Factor ETF | 1,952 |
BetaBuilders Canada ETF | |||||||||
For the year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.53% (a) (b) | $111,362,203 | $3,890,820,395 | $3,897,982,691 | $89,116 * | $— | $104,289,023 | 104,268,170 | $7,247,194 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | 339,229,246 | 8,201,144,644 | 8,460,291,082 | — | — | 80,082,808 | 80,082,808 | 9,136,294 * | — |
Total | $450,591,449 | $12,091,965,039 | $12,358,273,773 | $89,116 | $— | $184,371,831 | $16,383,488 | $— |
(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 October 31, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 245 |
BetaBuilders Developed Asia Pacific ex-Japan ETF | |||||||||
For the year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.53% (a) (b) | $54,456 | $— | $54,467 | $44 * | $(33 ) | $— | — | $243 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | 135,282 | 64,973,416 | 53,316,568 | — | — | 11,792,130 | 11,792,130 | 216,512 * | — |
Total | $189,738 | $64,973,416 | $53,371,035 | $44 | $(33 ) | $11,792,130 | $216,755 | $— |
(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 October 31, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
BetaBuilders Emerging Markets Equity ETF | |||||||||
For the period ended October 31, 2023 | |||||||||
Security Description | Value at May 10, 2023(a) | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (b) (c) | $— | $59,625 | $59,625 | $— | $— | $— | — | $9 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (b) (c) | — | 58,904,768 | 54,464,573 | — | — | 4,440,195 | 4,440,195 | 83,341 | — |
Total | $— | $58,964,393 | $54,524,198 | $— | $— | $4,440,195 | $83,350 | $— |
(a) | Commencement of operations was May 10, 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 October 31, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
246 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
BetaBuilders Europe ETF | |||||||||
For the year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.53% (a) (b) | $35,657,896 | $865,000,000 | $862,000,000 | $(26,729 )* | $(8,328 ) | $38,622,839 | 38,615,115 | $4,321,281 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | 4,769,602 | 841,665,343 | 841,665,395 | — | — | 4,769,550 | 4,769,550 | 877,316 * | — |
Total | $40,427,498 | $1,706,665,343 | $1,703,665,395 | $(26,729 ) | $(8,328 ) | $43,392,389 | $5,198,597 | $— |
(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 October 31, 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 year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.53% (a) (b) | $14,009,724 | $272,000,000 | $275,000,001 | $1,405 * | $98 | $11,011,226 | 11,009,025 | $1,141,432 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | 3,852,619 | 243,321,562 | 244,903,756 | — | — | 2,270,425 | 2,270,425 | 263,931 * | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | 12,102,999 | 202,226,434 | 188,030,385 | — | — | 26,299,048 | 26,299,048 | 822,603 | — |
Total | $29,965,342 | $717,547,996 | $707,934,142 | $1,405 | $98 | $39,580,699 | $2,227,966 | $— |
(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 October 31, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 247 |
BetaBuilders Japan ETF | |||||||||
For the year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.53% (a) (b) | $10,118,832 | $757,205,739 | $760,000,000 | $27,060 * | $— | $7,351,631 | 7,350,161 | $2,458,991 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | 9,777,050 | 608,651,894 | 617,110,964 | — | — | 1,317,980 | 1,317,980 | 571,802 * | — |
Total | $19,895,882 | $1,365,857,633 | $1,377,110,964 | $27,060 | $— | $8,669,611 | $3,030,793 | $— |
(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 October 31, 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 year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Chase & Co. (a) | $13,752,768 | $10,996,482 | $2,415,411 | $530,111 | $885,551 | $23,749,501 | 170,786 | $566,209 | $— |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.53% (b) (c) | 1,501,652 | 134,000,000 | 95,501,652 | (500 )* | (1,300 ) | 39,998,200 | 39,990,202 | 403,919 * | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (b) (c) | 2,238,043 | 98,895,872 | 96,573,651 | — | — | 4,560,264 | 4,560,264 | 104,718 * | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (b) (c) | 8,865,488 | 46,210,918 | 39,662,885 | — | — | 15,413,521 | 15,413,521 | 461,174 | — |
Total | $26,357,951 | $290,103,272 | $234,153,599 | $529,611 | $884,251 | $83,721,486 | $1,536,020 | $— |
(a) | Investment in affiliate. This security is included in an index 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 October 31, 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 year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.53% (a) (b) | $33,490,848 | $534,000,000 | $428,000,000 | $(13,846 )* | $(4,946 ) | $139,472,056 | 139,444,167 | $4,461,014 * | $— |
248 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
BetaBuilders U.S. Mid Cap Equity ETF (continued) | |||||||||
For the year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | $4,093,018 | $319,215,854 | $307,489,492 | $— | $— | $15,819,380 | 15,819,380 | $647,940 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | 7,709,091 | 119,438,988 | 112,907,017 | — | — | 14,241,062 | 14,241,062 | 598,612 | — |
Total | $45,292,957 | $972,654,842 | $848,396,509 | $(13,846 ) | $(4,946 ) | $169,532,498 | $5,707,566 | $— |
(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 October 31, 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 year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.53% (a) (b) | $10,003,601 | $214,000,000 | $131,000,000 | $2,305 * | $(4,902 ) | $93,001,004 | 92,982,408 | $2,489,801 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | 1,618,100 | 166,479,976 | 156,955,510 | — | — | 11,142,566 | 11,142,566 | 362,447 * | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | 8,224,756 | 44,983,687 | 49,998,829 | — | — | 3,209,614 | 3,209,614 | 301,265 | — |
Total | $19,846,457 | $425,463,663 | $337,954,339 | $2,305 | $(4,902 ) | $107,353,184 | $3,153,513 | $— |
(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 October 31, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 249 |
Carbon Transition U.S. Equity ETF | |||||||||
For the year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | $31,835 | $701,424 | $722,756 | $— | $— | $10,503 | 10,503 | $1,892 | $— |
(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 October 31, 2023. |
Emerging Markets Equity ETF | |||||||||
For the year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | $182,157 | $453,864 | $636,021 | $— | $— | $— | — | $2,422 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | — | 808,450 | 808,450 | — | — | — | — | 4,990 | — |
Total | $182,157 | $1,262,314 | $1,444,471 | $— | $— | $— | $7,412 | $— |
(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 October 31, 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 year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 5.49% (a) (b) | $569,398 | $53,017,214 | $53,163,757 | $1,144 | $63 | $424,062 | 423,893 | $42,587 | $— |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.53% (a) (b) | 2,258,925 | 60,999,999 | 62,000,000 | 1,308 * | (1,155 ) | 1,259,077 | 1,258,826 | 281,848 * | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | 1,789,624 | 85,932,836 | 86,857,375 | — | — | 865,085 | 865,085 | 96,045 * | — |
Total | $4,617,947 | $199,950,049 | $202,021,132 | $2,452 | $(1,092 ) | $2,548,224 | $420,480 | $— |
(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 October 31, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
250 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
U.S. Equity ETF | |||||||||
For the year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.53% (a) (b) | $200,027 | $61,000,000 | $44,199,467 | $(660 )* | $(300 ) | $16,999,600 | 16,996,201 | $221,009 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | 191,848 | 68,840,438 | 65,592,016 | — | — | 3,440,270 | 3,440,270 | 64,714 * | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | 1,020,750 | 28,752,199 | 29,466,469 | — | — | 306,480 | 306,480 | 46,437 | — |
Total | $1,412,625 | $158,592,637 | $139,257,952 | $(660 ) | $(300 ) | $20,746,350 | $332,160 | $— |
(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 October 31, 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. Mid Cap Equity ETF | |||||||||
For the year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.53% (a) (b) | $— | $33,000,000 | $11,000,001 | $200 * | $(199 ) | $22,000,000 | 21,995,601 | $137,541 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | — | 42,584,679 | 38,301,167 | — | — | 4,283,512 | 4,283,512 | 83,820 * | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | 414,054 | 17,700,622 | 17,833,770 | — | — | 280,906 | 280,906 | 28,807 | — |
Total | $414,054 | $93,285,301 | $67,134,938 | $200 | $(199 ) | $26,564,418 | $250,168 | $— |
(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 October 31, 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 year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.53% (a) (b) | $19,342,762 | $102,000,000 | $77,700,000 | $8,038 * | $(3,539 ) | $43,647,261 | 43,638,534 | $1,071,900 * | $— |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 251 |
U.S. Small Cap Equity ETF (continued) | |||||||||
For the year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | $2,902,497 | $114,834,862 | $112,109,338 | $— | $— | $5,628,021 | 5,628,021 | $174,487 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | 325,140 | 22,131,925 | 22,091,408 | — | — | 365,657 | 365,657 | 50,390 | — |
Total | $22,570,399 | $238,966,787 | $211,900,746 | $8,038 | $(3,539 ) | $49,640,939 | $1,296,777 | $— |
(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 October 31, 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 year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | $1,131,417 | $13,822,093 | $14,381,522 | $— | $— | $571,988 | 571,988 | $42,250 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | 340,337 | 11,592,662 | 11,778,697 | — | — | 154,302 | 154,302 | 21,522 | — |
Total | $1,471,754 | $25,414,755 | $26,160,219 | $— | $— | $726,290 | $63,772 | $— |
(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 October 31, 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. Quality Factor ETF | |||||||||
For the year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.53% (a) (b) | $16,497,925 | $312,011,297 | $244,000,000 | $6,995 * | $(3,999 ) | $84,512,218 | 84,495,319 | $1,481,580 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | 3,688,865 | 191,813,479 | 184,746,986 | — | — | 10,755,358 | 10,755,358 | 230,246 * | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | 785,535 | 50,402,005 | 49,191,732 | — | — | 1,995,808 | 1,995,808 | 119,019 | — |
Total | $20,972,325 | $554,226,781 | $477,938,718 | $6,995 | $(3,999 ) | $97,263,384 | $1,830,845 | $— |
(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. |
252 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
(b) | The rate shown is the current yield as of October 31, 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 year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.53% (a) (b) | $297,072 | $209,994,901 | $179,995,401 | $(5,630 )* | $(408 ) | $30,290,534 | 30,284,477 | $746,077 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | 623,020 | 126,281,784 | 122,941,953 | — | — | 3,962,851 | 3,962,851 | 155,002 * | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | 377,263 | 37,374,574 | 36,910,241 | — | — | 841,596 | 841,596 | 61,176 | — |
Total | $1,297,355 | $373,651,259 | $339,847,595 | $(5,630 ) | $(408 ) | $35,094,981 | $962,255 | $— |
(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 October 31, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 253 |
BetaBuilders Canada ETF | BetaBuilders Developed Asia Pacific ex-Japan ETF | BetaBuilders Emerging Markets Equity ETF | BetaBuilders Europe ETF | BetaBuilders International Equity ETF | BetaBuilders Japan ETF | |
Futures Contracts: | ||||||
Average Notional Balance Long | $36,547,667 | $27,480,452 | $3,867,949 (a) | $58,706,797 | $31,576,517 | $74,553,820 |
Ending Notional Balance Long | 30,108,729 | 14,597,705 | 4,594,000 | 57,665,051 | 43,033,200 | 128,361,801 |
BetaBuilders U.S. Equity ETF | 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 | |
Futures Contracts: | ||||||
Average Notional Balance Long | $10,790,350 | $13,035,632 | $6,608,144 | $40,286 | $600,205 | $3,453,014 |
Ending Notional Balance Long | 16,847,000 | 16,383,360 | 3,419,400 | 21,050 | 551,280 | 2,072,700 |
U.S. Equity ETF | 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 | $893,566 | $607,319 | $927,180 | $360,191 | $2,317,188 | $1,281,809 |
Ending Notional Balance Long | 421,175 | 237,440 | 333,600 | 147,350 | 2,527,050 | 842,350 |
(a) | For the period May 10, 2023 through October 31, 2023. |
254 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Paid-in-Capital | Accumulated undistributed (distributions in excess of) net investment income | Accumulated net realized gains (losses) | |
BetaBuilders Canada ETF | $144,010,623 | $(968,311 ) | $(143,042,312 ) |
BetaBuilders Developed Asia Pacific ex-Japan ETF | 30,375,350 | 6,782,701 | (37,158,051 ) |
BetaBuilders Emerging Markets Equity ETF | — | 575,290 | (575,290 ) |
BetaBuilders Europe ETF | 385,273,108 | 3,966,622 | (389,239,730 ) |
BetaBuilders International Equity ETF | 52,713,905 | 2,356,761 | (55,070,666 ) |
BetaBuilders Japan ETF | 34,352,769 | 2,096,115 | (36,448,884 ) |
BetaBuilders U.S. Equity ETF | 47,916,205 | 5,832 | (47,922,037 ) |
BetaBuilders U.S. Mid Cap Equity ETF | 103,608,128 | 7,176 | (103,615,304 ) |
BetaBuilders U.S. Small Cap Equity ETF | 52,955,203 | 754 | (52,955,957 ) |
Carbon Transition U.S. Equity ETF | 3,309,312 | (57 ) | (3,309,255 ) |
Emerging Markets Equity ETF | 1,308,669 | 425,014 | (1,733,683 ) |
International Equity ETF | 26,969,121 | 5,135,086 | (32,104,207 ) |
U.S. Equity ETF | 42,678,181 | (5,763 ) | (42,672,418 ) |
U.S. Mid Cap Equity ETF | 32,048,323 | (4,321 ) | (32,044,002 ) |
U.S. Small Cap Equity ETF | 32,029,952 | 69 | (32,030,021 ) |
U.S. Momentum Factor ETF | 1,283,283 | — | (1,283,283 ) |
U.S. Quality Factor ETF | 75,632,694 | — | (75,632,694 ) |
U.S. Value Factor ETF | 31,232,546 | (4,172 ) | (31,228,374 ) |
BetaBuilders Canada ETF | 0.19 % |
BetaBuilders Developed Asia Pacific ex-Japan ETF | 0.19 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 255 |
BetaBuilders Emerging Markets Equity ETF | 0.15 % |
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 |
256 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Purchases (excluding U.S. Government) | Sales (excluding U.S. Government) | |
BetaBuilders Canada ETF | $208,478,470 | $204,329,709 |
BetaBuilders Developed Asia Pacific ex-Japan ETF | 350,129,358 | 227,715,051 |
BetaBuilders Emerging Markets Equity ETF | 507,316,711 | 50,225,049 |
BetaBuilders Europe ETF | 371,037,934 | 375,686,174 |
BetaBuilders International Equity ETF | 180,570,171 | 160,315,889 |
BetaBuilders Japan ETF | 275,171,676 | 233,885,264 |
BetaBuilders U.S. Equity ETF | 42,588,748 | 55,216,433 |
BetaBuilders U.S. Mid Cap Equity ETF | 371,725,827 | 404,239,958 |
BetaBuilders U.S. Small Cap Equity ETF | 264,149,878 | 273,209,323 |
Carbon Transition U.S. Equity ETF | 4,216,695 | 5,551,012 |
Emerging Markets Equity ETF | 152,911,577 | 85,766,143 |
International Equity ETF | 155,899,382 | 186,637,992 |
U.S. Equity ETF | 137,416,289 | 142,073,591 |
U.S. Mid Cap Equity ETF | 76,857,366 | 77,670,376 |
U.S. Small Cap Equity ETF | 103,501,477 | 107,022,426 |
U.S. Momentum Factor ETF | 109,025,935 | 109,004,125 |
U.S. Quality Factor ETF | 284,254,493 | 292,488,990 |
U.S. Value Factor ETF | 160,423,096 | 176,667,606 |
In-Kind Purchases | In-Kind Sales | |
BetaBuilders Canada ETF | $725,706,192 | $462,499,265 |
BetaBuilders Developed Asia Pacific ex-Japan ETF | 473,754,760 | 156,782,197 |
BetaBuilders Emerging Markets Equity ETF | 59,425,387 | — |
BetaBuilders Europe ETF | 5,689,380,056 | 4,455,801,549 |
BetaBuilders International Equity ETF | 800,572,499 | 272,487,594 |
BetaBuilders Japan ETF | 1,783,677,626 | 205,155,469 |
BetaBuilders U.S. Equity ETF | 984,114,284 | 170,349,751 |
BetaBuilders U.S. Mid Cap Equity ETF | 541,684,098 | 433,907,912 |
BetaBuilders U.S. Small Cap Equity ETF | 470,673,417 | 254,557,151 |
Carbon Transition U.S. Equity ETF | 4,122,424 | 19,921,316 |
Emerging Markets Equity ETF | 39,763,918 | 6,297,883 |
International Equity ETF | 31,918,203 | 413,537,737 |
U.S. Equity ETF | 87,503,865 | 158,237,731 |
U.S. Mid Cap Equity ETF | 177,967,039 | 119,059,914 |
U.S. Small Cap Equity ETF | 261,699,918 | 129,231,173 |
U.S. Momentum Factor ETF | 72,243,750 | 7,184,657 |
U.S. Quality Factor ETF | 2,076,715,052 | 291,361,671 |
U.S. Value Factor ETF | 678,206,994 | 407,753,158 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 257 |
Aggregate Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | |
BetaBuilders Canada ETF | $5,618,182,358 | $678,004,627 | $456,612,834 | $221,391,793 |
BetaBuilders Developed Asia Pacific ex-Japan ETF | 4,516,406,075 | 64,422,653 | 774,386,262 | (709,963,609 ) |
BetaBuilders Emerging Markets Equity ETF | 521,071,549 | 12,984,355 | 51,251,332 | (38,266,977 ) |
BetaBuilders Europe ETF | 5,959,666,744 | 141,591,851 | 976,476,811 | (834,884,960 ) |
BetaBuilders International Equity ETF | 3,609,909,870 | 355,126,255 | 411,245,827 | (56,119,572 ) |
BetaBuilders Japan ETF | 9,525,278,174 | 595,827,826 | 1,448,177,857 | (852,350,031 ) |
BetaBuilders U.S. Equity ETF | 2,217,931,698 | 161,589,500 | 165,493,983 | (3,904,483 ) |
BetaBuilders U.S. Mid Cap Equity ETF | 1,681,615,437 | 111,705,299 | 228,503,254 | (116,797,955 ) |
BetaBuilders U.S. Small Cap Equity ETF | 874,778,696 | 32,524,510 | 180,521,837 | (147,997,327 ) |
Carbon Transition U.S. Equity ETF | 5,871,177 | 346,326 | 571,261 | (224,935 ) |
Emerging Markets Equity ETF | 278,422,270 | 25,306,078 | 34,927,574 | (9,621,496 ) |
International Equity ETF | 399,867,572 | 25,572,755 | 72,558,816 | (46,986,061 ) |
U.S. Equity ETF | 436,960,840 | 39,705,679 | 36,523,815 | 3,181,864 |
U.S. Mid Cap Equity ETF | 355,172,221 | 13,786,215 | 32,784,141 | (18,997,926 ) |
U.S. Small Cap Equity ETF | 469,367,079 | 21,192,855 | 55,286,424 | (34,093,569 ) |
U.S. Momentum Factor ETF | 289,279,620 | 28,582,489 | 15,551,196 | 13,031,293 |
U.S. Quality Factor ETF | 2,506,309,865 | 93,017,538 | 103,778,923 | (10,761,385 ) |
U.S. Value Factor ETF | 784,515,357 | 21,014,879 | 88,225,694 | (67,210,815 ) |
258 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Ordinary Income* | Total Distributions Paid | |
BetaBuilders Canada ETF | $154,798,545 | $154,798,545 |
BetaBuilders Developed Asia Pacific ex-Japan ETF | 149,063,924 | 149,063,924 |
BetaBuilders Emerging Markets Equity ETF | 6,595,002 | 6,595,002 |
BetaBuilders Europe ETF | 236,546,537 | 236,546,537 |
BetaBuilders International Equity ETF | 88,690,220 | 88,690,220 |
BetaBuilders Japan ETF | 102,173,384 | 102,173,384 |
BetaBuilders U.S. Equity ETF | 24,912,196 | 24,912,196 |
BetaBuilders U.S. Mid Cap Equity ETF | 22,224,476 | 22,224,476 |
BetaBuilders U.S. Small Cap Equity ETF | 10,398,310 | 10,398,310 |
Carbon Transition U.S. Equity ETF | 313,724 | 313,724 |
Emerging Markets Equity ETF | 10,712,059 | 10,712,059 |
International Equity ETF | 21,332,208 | 21,332,208 |
U.S. Equity ETF | 11,826,601 | 11,826,601 |
U.S. Mid Cap Equity ETF | 5,959,752 | 5,959,752 |
U.S. Small Cap Equity ETF | 6,840,045 | 6,840,045 |
U.S. Momentum Factor ETF | 3,468,175 | 3,468,175 |
U.S. Quality Factor ETF | 17,505,540 | 17,505,540 |
U.S. Value Factor ETF | 15,133,809 | 15,133,809 |
* | Short-term gain distributions are treated as ordinary income for income tax purposes. |
Ordinary Income* | Total Distributions Paid | |
BetaBuilders Canada ETF | $152,620,697 | $152,620,697 |
BetaBuilders Developed Asia Pacific ex-Japan ETF | 267,459,428 | 267,459,428 |
BetaBuilders Europe ETF | 309,349,480 | 309,349,480 |
BetaBuilders International Equity ETF | 124,967,513 | 124,967,513 |
BetaBuilders Japan ETF | 220,078,396 | 220,078,396 |
BetaBuilders U.S. Equity ETF | 14,262,272 | 14,262,272 |
BetaBuilders U.S. Mid Cap Equity ETF | 18,142,752 | 18,142,752 |
BetaBuilders U.S. Small Cap Equity ETF | 6,135,146 | 6,135,146 |
Carbon Transition U.S. Equity ETF | 316,660 | 316,660 |
Emerging Markets Equity ETF | 8,578,159 | 8,578,159 |
International Equity ETF | 41,010,274 | 41,010,274 |
U.S. Equity ETF | 12,386,546 | 12,386,546 |
U.S. Mid Cap Equity ETF | 4,185,258 | 4,185,258 |
U.S. Small Cap Equity ETF | 2,874,215 | 2,874,215 |
U.S. Momentum Factor ETF | 2,634,717 | 2,634,717 |
U.S. Quality Factor ETF | 6,843,698 | 6,843,698 |
U.S. Value Factor ETF | 11,652,973 | 11,652,973 |
* | Short-term gain distributions are treated as ordinary income for income tax purposes. |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 259 |
Current Distributable Ordinary Income | Current Distributable Long-Term Capital Gain (Tax Basis Capital Loss Carryover) | Unrealized Appreciation (Depreciation) | |
BetaBuilders Canada ETF | $26,836,738 | $(201,905,702 ) | $221,201,876 |
BetaBuilders Developed Asia Pacific ex-Japan ETF | 29,420,523 | (238,895,239 ) | (709,868,294 ) |
BetaBuilders Emerging Markets Equity ETF | 1,733,171 | (848,175 ) | (38,703,055 ) |
BetaBuilders Europe ETF | 14,119,004 | (330,822,277 ) | (835,018,998 ) |
BetaBuilders International Equity ETF | 33,409,243 | (84,337,183 ) | (56,250,637 ) |
BetaBuilders Japan ETF | 283,979,716 | (296,606,126 ) | (854,251,679 ) |
BetaBuilders U.S. Equity ETF | 3,861,480 | (42,337,620 ) | (3,904,483 ) |
BetaBuilders U.S. Mid Cap Equity ETF | 3,499,038 | (290,990,118 ) | (116,797,955 ) |
BetaBuilders U.S. Small Cap Equity ETF | 2,047,908 | (80,393,214 ) | (147,997,327 ) |
Carbon Transition U.S. Equity ETF | 37,721 | (2,661,551 ) | (224,935 ) |
Emerging Markets Equity ETF | 2,924,173 | (36,611,525 ) | (10,166,511 ) |
International Equity ETF | 7,155,906 | (165,601,556 ) | (47,044,408 ) |
U.S. Equity ETF | 1,475,532 | (57,421,764 ) | 3,181,864 |
U.S. Mid Cap Equity ETF | 969,003 | (32,197,934 ) | (18,997,926 ) |
U.S. Small Cap Equity ETF | 1,244,603 | (52,172,725 ) | (34,093,569 ) |
U.S. Momentum Factor ETF | 453,111 | (44,318,751 ) | 13,031,293 |
U.S. Quality Factor ETF | 4,231,325 | (75,194,052 ) | (10,761,385 ) |
U.S. Value Factor ETF | 2,172,953 | (81,916,028 ) | (67,210,815 ) |
Capital Loss Carryforward Character | ||
Short-Term | Long-Term | |
BetaBuilders Canada ETF | $64,270,716 | $137,634,986 |
BetaBuilders Developed Asia Pacific ex-Japan ETF | 103,133,156 | 135,762,083 |
BetaBuilders Emerging Markets Equity ETF | 535,185 | 312,990 |
BetaBuilders Europe ETF | 123,586,788 | 207,235,489 |
BetaBuilders International Equity ETF | 29,397,394 | 54,939,789 |
BetaBuilders Japan ETF | 65,782,769 | 230,823,357 |
BetaBuilders U.S. Equity ETF | 30,535,955 | 11,801,665 |
BetaBuilders U.S. Mid Cap Equity ETF | 157,391,651 | 133,598,467 |
BetaBuilders U.S. Small Cap Equity ETF | 50,557,459 | 29,835,755 |
Carbon Transition U.S. Equity ETF | 1,455,965 * | 1,205,586 * |
Emerging Markets Equity ETF | 27,541,488 | 9,070,037 |
International Equity ETF | 53,684,631 | 111,916,925 |
U.S. Equity ETF | 34,559,356 | 22,862,408 |
U.S. Mid Cap Equity ETF | 21,279,323 | 10,918,611 |
U.S. Small Cap Equity ETF | 30,381,878 | 21,790,847 |
U.S. Momentum Factor ETF | 31,055,612 | 13,263,139 |
U.S. Quality Factor ETF | 52,310,857 | 22,883,195 |
U.S. Value Factor ETF | 53,754,581 | 28,161,447 |
* | Amount includes capital loss carryforwards which are limited in future years under Internal Revenue Code sections 381-384. |
260 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Capital Loss Utilized | |
Short-Term | |
BetaBuilders Japan ETF | $13,529,258 |
Average Borrowings | Average Interest Rate paid | Number of Days Outstanding | Interest Paid | |
BetaBuilders Developed Asia Pacific ex-Japan ETF | $21,009,222 | 5.81 % | 3 | $10,172 |
Emerging Markets Equity ETF | 5,345,359 | 6.06 | 1 | 900 |
International Equity ETF | 4,109,675 | 5.81 | 1 | 663 |
U.S. Value Factor ETF | 1,533,838 | 5.56 | 3 | 711 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 261 |
JPMorgan SmartRetirement Funds | JPMorgan SmartRetirement Blend Funds | |
BetaBuilders Emerging Markets Equity ETF | — % | 93.4 % |
BetaBuilders International Equity ETF | — | 75.7 |
BetaBuilders U.S. Mid Cap Equity ETF | 52.6 | 43.1 |
BetaBuilders U.S. Small Cap Equity ETF | — | 81.6 |
262 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
BetaBuilders Canada ETF | BetaBuilders Developed Asia Pacific ex-Japan ETF | BetaBuilders Emerging Markets Equity ETF | BetaBuilders Europe ETF | BetaBuilders International Equity ETF | BetaBuilders Japan ETF | Emerging Markets Equity ETF | |
Australia | — % | 60.0 % | — % | — % | — % | — % | — % |
Canada | 95.9 | — | — | — | — | — | — |
China | — | — | 27.8 | — | — | — | 22.9 |
France | — | — | — | 15.4 | — | — | — |
Germany | — | — | — | 12.0 | — | — | — |
Hong Kong | — | 17.3 | — | — | — | — | — |
India | — | — | 17.2 | — | — | — | 11.0 |
Japan | — | — | — | — | 25.0 | 100.0 | — |
Singapore | — | 11.3 | — | — | — | — | — |
South Korea | — | — | 11.8 | — | — | — | — |
Taiwan | — | — | 15.0 | — | — | — | 11.4 |
United Kingdom | — | — | — | 18.2 | 11.6 | — | — |
International Equity ETF | |
Australia | 11.0 % |
Japan | 29.6 |
United Kingdom | 16.0 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 263 |
264 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
JPMorgan BetaBuilders Canada ETF (1) |
JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF (1) |
JPMorgan BetaBuilders Emerging Markets Equity ETF (2) |
JPMorgan BetaBuilders Europe ETF (1) |
JPMorgan BetaBuilders International Equity ETF (1) |
JPMorgan BetaBuilders Japan ETF (1) |
JPMorgan BetaBuilders U.S. Equity ETF (1) |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (1) |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF (1) |
JPMorgan Carbon Transition U.S. Equity ETF (1) |
JPMorgan Diversified Return Emerging Markets Equity ETF (1) |
JPMorgan Diversified Return International Equity ETF (1) |
JPMorgan Diversified Return U.S. Equity ETF (1) |
JPMorgan Diversified Return U.S. Mid Cap Equity ETF (1) |
JPMorgan Diversified Return U.S. Small Cap Equity ETF (1) |
JPMorgan U.S. Momentum Factor ETF (1) |
JPMorgan U.S. Quality Factor ETF (1) |
JPMorgan U.S. Value Factor ETF (1) |
(1) | Statement of operations for the year ended October 31, 2023 and statement of changes in net assets for the years ended October 31, 2023 and 2022 |
(2) | Statement of operations and statement of changes in net assets for the period May 10, 2023 (commencement of operations) through October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 265 |
266 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Name (Year of Birth); Positions With the Funds (1) | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee (2) | Other Directorships Held During the Past 5 Years |
Independent Trustees | |||
John F. Finn (1947); Chair since 2020; Trustee since 1998. | Chairman, Gardner, Inc. (supply chain management company serving industrial and consumer markets) (serving in various roles 1974-present). | 170 | Director, Greif, Inc. (GEF) (industrial package products and services) (2007-present); Trustee, Columbus Association for the Performing Arts (1988-present). |
Stephen P. Fisher (1959); Trustee since 2018. | Retired; Chairman and Chief Executive Officer, NYLIFE Distributors LLC (registered broker-dealer) (serving in various roles 2008-2013); Chairman, NYLIM Service Company LLC (transfer agent) (2008-2017); New York Life Investment Management LLC (registered investment adviser) (serving in various roles 2005-2017); Chairman, IndexIQ Advisors LLC (registered investment adviser for ETFs) (2014-2017); President, MainStay VP Funds Trust (2007-2017), MainStay DefinedTerm Municipal Opportunities Fund (2011-2017) and MainStay Funds Trust (2007-2017) (registered investment companies). | 170 | Honors Program Advisory Board Member, The Zicklin School of Business, Baruch College, The City University of New York (2017-present). |
Gary L. French (1951); Trustee since 2014. | Real Estate Investor (2011-2020); Investment management industry Consultant and Expert Witness (2011-present); Senior Consultant for The Regulatory Fundamentals Group LLC (2011-2017). | 170 | Independent Trustee, The China Fund, Inc. (2013-2019); Exchange Traded Concepts Trust II (2012-2014); Exchange Traded Concepts Trust I (2011-2014). |
Kathleen M. Gallagher (1958); Trustee since 2018. | Retired; Chief Investment Officer — Benefit Plans, Ford Motor Company (serving in various roles 1985-2016). | 170 | Non- Executive Director, Legal & General Investment Management (Holdings) (2018-present); Non-Executive Director, Legal & General Investment Management America (U.S. Holdings) (financial services and insurance) (2017-present); Advisory Board Member, State Street Global Advisors Total Portfolio Solutions (2017-present); Member, Client Advisory Council, Financial Engines, LLC (registered investment adviser) (2011-2016); Director, Ford Pension Funds Investment Management Ltd. (2007-2016). |
Robert J. Grassi (1957); Trustee since 2014. | Sole Proprietor, Academy Hills Advisors LLC (2012-present); Pension Director, Corning Incorporated (2002-2012). | 170 | None |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 267 |
Name (Year of Birth); Positions With the Funds (1) | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee (2) | Other Directorships Held During the Past 5 Years |
Independent Trustees (continued) | |||
Frankie D. Hughes (1952); Trustee since 2008. | President, Ashland Hughes Properties (property management) (2014-present); President and Chief Investment Officer, Hughes Capital Management, Inc. (fixed income asset management) (1993-2014). | 170 | None |
Raymond Kanner (1953); Trustee since 2017. | Retired; Managing Director and Chief Investment Officer, IBM Retirement Funds (2007-2016). | 170 | Advisory Board Member, Penso Advisors, LLC (2020-present); Advisory Board Member, Los Angeles Capital (2018-present); Advisory Board Member, State Street Global Advisors Total Portfolio Solutions (2017- present); Acting Executive Director, Committee on Investment of Employee Benefit Assets (CIEBA) (2016-2017); Advisory Board Member, Betterment for Business (robo advisor) (2016- 2017); Advisory Board Member, BlueStar Indexes (index creator) (2013-2017); Director, Emerging Markets Growth Fund (registered investment company) (1997-2016); Member, Russell Index Client Advisory Board (2001-2015). |
Thomas P. Lemke (1954); Trustee since 2014. | Retired since 2013. | 170 | (1) Independent Trustee of Advisors’ Inner Circle III fund platform, consisting of the following: (i) the Advisors’ Inner Circle Fund III, (ii) the Gallery Trust, (iii) the Schroder Series Trust, (iv) the Delaware Wilshire Private Markets Fund (since 2020), (v) Chiron Capital Allocation Fund Ltd., and (vi) formerly the Winton Diversified Opportunities Fund (2014-2018); and (2) Independent Trustee of the Symmetry Panoramic Trust (since 2018). |
Lawrence R. Maffia (1950); Trustee since 2014. | Retired; Director and President, ICI Mutual Insurance Company (2006-2013). | 170 | Director, ICI Mutual Insurance Company (1999-2013). |
Mary E. Martinez (1960); Vice Chair since 2021; Trustee since 2013. | Associate, Special Properties, a Christie’s International Real Estate Affiliate (2010-present); Managing Director, Bank of America (asset management) (2007-2008); Chief Operating Officer, U.S. Trust Asset Management, U.S. Trust Company (asset management) (2003-2007); President, Excelsior Funds (registered investment companies) (2004-2005). | 170 | None |
Marilyn McCoy (1948); Trustee since 1999. | Retired; Vice President of Administration and Planning, Northwestern University (1985-2023). | 170 | None |
268 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Name (Year of Birth); Positions With the Funds (1) | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee (2) | Other Directorships Held During the Past 5 Years |
Independent Trustees (continued) | |||
Dr. Robert A. Oden, Jr. (1946); Trustee since 1997. | Retired; President, Carleton College (2002-2010); President, Kenyon College (1995-2002). | 170 | Trustee, The Coldwater Conservation Fund (2017-present); Trustee, American Museum of Fly Fishing (2013-present); Trustee and Vice Chair, Trout Unlimited (2017-2021); Trustee, Dartmouth- Hitchcock Medical Center (2011-2020). |
Marian U. Pardo* (1946); Trustee since 2013. | Managing Director and Founder, Virtual Capital Management LLC (investment consulting) (2007-present); Managing Director, Credit Suisse Asset Management (portfolio manager) (2003-2006). | 170 | Board Chair and Member, Board of Governors, Columbus Citizens Foundation (not-for-profit supporting philanthropic and cultural programs) (2006-present). |
Emily A. Youssouf (1951); Trustee since 2014. | Adjunct Professor (2011-present) and Clinical Professor (2009-2011), NYU Schack Institute of Real Estate; Board Member and Member of the Audit Committee (2013–present), Chair of Finance Committee (2019-present), Member of Related Parties Committee (2013-2018) and Member of the Enterprise Risk Committee (2015-2018), PennyMac Financial Services, Inc.; Board Member (2005-2018), Chair of Capital Committee (2006-2016), Chair of Audit Committee (2005-2018), Member of Finance Committee (2005-2018) and Chair of IT Committee (2016-2018), NYC Health and Hospitals Corporation. | 170 | Trustee, NYC School Construction Authority (2009-present); Board Member, NYS Job Development Authority (2008-present); Trustee and Chair of the Audit Committee of the Transit Center Foundation (2015-2019). |
Interested Trustees | |||
Robert F. Deutsch** (1957); Trustee since 2014. | Retired; Head of ETF Business for JPMorgan Asset Management (2013-2017); Head of Global Liquidity Business for JPMorgan Asset Management (2003-2013). | 170 | Treasurer and Director of the JUST Capital Foundation (2017-present). |
Nina O. Shenker** (1957); Trustee since 2022. | Vice Chair (2017-2021), General Counsel and Managing Director (2008-2016), Associate General Counsel and Managing Director (2004-2008), J.P. Morgan Asset & Wealth Management. | 170 | Director and Member of Legal and Human Resources Subcommittees, American Jewish Joint Distribution Committee (2018-present). |
(1) | The year shown is the first year in which a Trustee became a member of any of the following: the JPMorgan Mutual Fund Board, the JPMorgan ETF Board, the heritage J.P. Morgan Funds or the heritage One Group Mutual Funds. Trustees serve an indefinite term, until resignation, retirement, removal or death. The Board's current retirement policy sets retirement at the end of the calendar year in which the Trustee attains the age of 75, provided that any Board member who was a member of the JPMorgan Mutual Fund Board prior to January 1, 2022 and was born prior to January 1, 1950 shall retire from the Board at the end of the calendar year in which the Trustee attains the age of 78. | ||
(2) | A Fund Complex means two or more registered investment companies that hold themselves out to investors as related companies for purposes of investment and investor services or have a common investment adviser or have an investment adviser that is an affiliated person of the investment adviser of any of the other registered investment companies. The J.P. Morgan Funds Complex for which the Board of Trustees serves currently includes nine registered investment companies (170 J.P. Morgan Funds). | ||
* | In connection with prior employment with JPMorgan Chase, Ms. Pardo was the recipient of non-qualified pension plan payments from JPMorgan Chase in the amount of approximately $2,055 per month, which she irrevocably waived effective January 1, 2013, and deferred compensation payments from JPMorgan Chase in the amount of approximately $7,294 per year, which ended in January 2013. In addition, Ms. Pardo receives payments from a fully-funded qualified plan, which is not an obligation of JPMorgan Chase. |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 269 |
** | Designation as an “Interested Trustee” is based on prior employment by the Adviser or an affiliate of the Adviser or interests in a control person of the Adviser. | ||
The contact address for each of the Trustees is 277 Park Avenue, New York, NY 10172. |
270 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Name (Year of Birth), Positions Held with the Trust (Since) | Principal Occupations During Past 5 Years |
Brian S. Shlissel (1964), President and Principal Executive Officer (2021) | Managing Director and Chief Administrative Officer for J.P. Morgan pooled vehicles, J.P. Morgan Investment Management Inc. since 2014. |
Timothy J. Clemens (1975), Treasurer and Principal Financial Officer (2020) | Managing Director, J.P. Morgan Investment Management Inc. Mr. Clemens has been with J.P. Morgan Investment Management Inc. since 2013. |
Gregory S. Samuels (1980), Secretary (2022) (formerly Assistant Secretary 2014-2022) | Managing Director and Assistant General Counsel, JPMorgan Chase & Co. Mr. Samuels has been with JPMorgan Chase & Co. since 2010. |
Stephen M. Ungerman (1953), Chief Compliance Officer (2014) | Managing Director, JPMorgan Chase & Co. Mr. Ungerman has been with JPMorgan Chase & Co. since 2000. |
Kiesha Astwood-Smith (1973), Assistant Secretary (2021) | Vice President and Assistant General Counsel, JPMorgan Chase & Co. since June 2021; Senior Director and Counsel, Equitable Financial Life Insurance Company (formerly, AXA Equitable Life Insurance Company) from September 2015 through June 2021. |
Matthew Beck (1988), Assistant Secretary (2021)* | Vice President and Assistant General Counsel, JPMorgan Chase & Co. since May 2021; Senior Legal Counsel, Ultimus Fund Solutions from May 2018 through May 2021; General Counsel, The Nottingham Company from April 2014 through May 2018. |
Elizabeth A. Davin (1964), Assistant Secretary (2022) (formerly Secretary 2018-2022)* | Executive Director and Assistant General Counsel, JPMorgan Chase & Co. Ms. Davin has been with JPMorgan Chase & Co. (formerly Bank One Corporation) since 2004. |
Jessica K. Ditullio (1962), Assistant Secretary (2014)* | Executive Director and Assistant General Counsel, JPMorgan Chase & Co. Ms. Ditullio has been with JPMorgan Chase & Co. (formerly Bank One Corporation) since 1990. |
Anthony Geron (1971), Assistant Secretary (2019) | Vice President and Assistant General Counsel, JPMorgan Chase & Co. since September 2018; Lead Director and Counsel, AXA Equitable Life Insurance Company from 2015 to 2018 and Senior Director and Counsel, AXA Equitable Life Insurance Company from 2014 to 2015. |
Carmine Lekstutis (1980), Assistant Secretary (2014) | Executive Director and Assistant General Counsel, JPMorgan Chase & Co. Mr. Lekstutis has been with JPMorgan Chase & Co. since 2011. |
Max Vogel (1990), Assistant Secretary (2021) | Vice President and Assistant General Counsel, JPMorgan Chase & Co. since June 2021; Associate, Proskauer Rose LLP (law firm) from March 2017 to June 2021. |
Zachary E. Vonnegut-Gabovitch (1986), Assistant Secretary (2017) | Executive Director and Assistant General Counsel, JPMorgan Chase & Co. Mr. Vonnegut-Gabovitch has been with JPMorgan Chase & Co. since September 2016. |
Frederick J. Cavaliere (1978), Assistant Treasurer (2015)** | Executive Director, J.P. Morgan Investment Management Inc. Mr. Cavaliere has been with JPMorgan Chase & Co. since May 2006. |
Michael M. D’Ambrosio (1969), Assistant Treasurer (2014) | Managing Director, J.P. Morgan Investment Management Inc. Mr. D’Ambrosio has been with J.P. Morgan Investment Management Inc. since 2012. |
Aleksandr Fleytekh (1972), Assistant Treasurer (2023) | Executive Director, J.P. Morgan Investment Management Inc. Mr. Fleytekh has been with J.P. Morgan Investment Management Inc. since February 2012. |
Shannon Gaines (1977), Assistant Treasurer (2019)* | Executive Director, J.P. Morgan Investment Management Inc. Mr. Gaines has been with J.P. Morgan Investment Management Inc. since January 2014. |
Jeffrey D. House (1972), Assistant Treasurer (2023)* | Vice President, J.P. Morgan Investment Management Inc. Mr. House has been with J.P. Morgan Investment Management Inc. since July 2006. |
Michael Mannarino (1985), Assistant Treasurer (2023) | Vice President, J.P. Morgan Investment Management Inc. Mr. Mannarino has been with J.P. Morgan Investment Management Inc. since 2014. |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 271 |
Nektarios E. Manolakakis (1972), Assistant Treasurer (2020) | Executive Director, J.P. Morgan Investment Management Inc. since February 2021, formerly Vice President, J.P. Morgan Investment Management Inc. since 2014; Vice President, J.P. Morgan Corporate & Investment Bank 2010-2014. |
Todd McEwen (1981), Assistant Treasurer (2020)* | Vice President, J.P. Morgan Investment Management Inc. Mr. McEwen has been with J.P. Morgan Investment Management Inc. since 2010. |
Joseph Parascondola (1963), Assistant Treasurer (2023)** | Executive Director, J.P. Morgan Investment Management Inc. Mr. Parascondola has been with J.P. Morgan Investment Management Inc. since 2006. |
Gillian I. Sands (1969), Assistant Treasurer (2023) | Executive Director, J.P. Morgan Investment Management Inc. Ms. Sands has been with J.P. Morgan Investment Management Inc. since September 2012. |
The contact address for each of the officers, unless otherwise noted, is 277 Park Avenue, New York, NY 10172. | |
* | The contact address for the officer is 1111 Polaris Parkway, Columbus, OH 43240. |
** | The contact address for the officer is 575 Washington Boulevard, Jersey City, NJ 07310. |
272 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Beginning Account Value May 1, 2023 | Ending Account Value October 31, 2023 | Expenses Paid During the Period | Annualized Expense Ratio | |
JPMorgan BetaBuilders Canada ETF | ||||
Actual * | $1,000.00 | $912.00 | $0.92 | 0.19 % |
Hypothetical * | 1,000.00 | 1,024.25 | 0.97 | 0.19 |
JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF | ||||
Actual * | 1,000.00 | 897.20 | 0.91 | 0.19 |
Hypothetical * | 1,000.00 | 1,024.25 | 0.97 | 0.19 |
JPMorgan BetaBuilders Emerging Markets Equity ETF | ||||
Actual ** | 1,000.00 | 951.20 | 0.70 | 0.15 |
Hypothetical * | 1,000.00 | 1,024.45 | 0.77 | 0.15 |
JPMorgan BetaBuilders Europe ETF | ||||
Actual * | 1,000.00 | 908.60 | 0.43 | 0.09 |
Hypothetical * | 1,000.00 | 1,024.75 | 0.46 | 0.09 |
JPMorgan BetaBuilders International Equity ETF | ||||
Actual * | 1,000.00 | 929.70 | 0.34 | 0.07 |
Hypothetical * | 1,000.00 | 1,024.85 | 0.36 | 0.07 |
JPMorgan BetaBuilders Japan ETF | ||||
Actual * | 1,000.00 | 1,007.20 | 0.96 | 0.19 |
Hypothetical * | 1,000.00 | 1,024.25 | 0.97 | 0.19 |
JPMorgan BetaBuilders U.S. Equity ETF | ||||
Actual * | 1,000.00 | 1,017.50 | 0.10 | 0.02 |
Hypothetical * | 1,000.00 | 1,025.10 | 0.10 | 0.02 |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | ||||
Actual * | 1,000.00 | 958.90 | 0.35 | 0.07 |
Hypothetical * | 1,000.00 | 1,024.85 | 0.36 | 0.07 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF | ||||
Actual * | 1,000.00 | 940.00 | 0.44 | 0.09 |
Hypothetical * | 1,000.00 | 1,024.75 | 0.46 | 0.09 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 273 |
Beginning Account Value May 1, 2023 | Ending Account Value October 31, 2023 | Expenses Paid During the Period | Annualized Expense Ratio | |
JPMorgan Carbon Transition U.S. Equity ETF | ||||
Actual * | $1,000.00 | $1,017.00 | $0.76 | 0.15 % |
Hypothetical * | 1,000.00 | 1,024.45 | 0.77 | 0.15 |
JPMorgan Diversified Return Emerging Markets Equity ETF | ||||
Actual * | 1,000.00 | 967.90 | 2.18 | 0.44 |
Hypothetical * | 1,000.00 | 1,022.99 | 2.24 | 0.44 |
JPMorgan Diversified Return International Equity ETF | ||||
Actual * | 1,000.00 | 947.20 | 1.82 | 0.37 |
Hypothetical * | 1,000.00 | 1,023.34 | 1.89 | 0.37 |
JPMorgan Diversified Return U.S. Equity ETF | ||||
Actual * | 1,000.00 | 961.70 | 0.89 | 0.18 |
Hypothetical * | 1,000.00 | 1,024.30 | 0.92 | 0.18 |
JPMorgan Diversified Return U.S. Mid Cap Equity ETF | ||||
Actual * | 1,000.00 | 946.00 | 1.18 | 0.24 |
Hypothetical * | 1,000.00 | 1,024.00 | 1.22 | 0.24 |
JPMorgan Diversified Return U.S. Small Cap Equity ETF | ||||
Actual * | 1,000.00 | 966.90 | 1.44 | 0.29 |
Hypothetical * | 1,000.00 | 1,023.74 | 1.48 | 0.29 |
JPMorgan U.S. Momentum Factor ETF | ||||
Actual * | 1,000.00 | 1,018.20 | 0.61 | 0.12 |
Hypothetical * | 1,000.00 | 1,024.60 | 0.61 | 0.12 |
JPMorgan U.S. Quality Factor ETF | ||||
Actual * | 1,000.00 | 1,016.00 | 0.61 | 0.12 |
Hypothetical * | 1,000.00 | 1,024.60 | 0.61 | 0.12 |
JPMorgan U.S. Value Factor ETF | ||||
Actual * | 1,000.00 | 993.60 | 0.60 | 0.12 |
Hypothetical * | 1,000.00 | 1,024.60 | 0.61 | 0.12 |
* | Expenses are equal to each Fund's annualized net expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). |
** | Expenses are equal to the Fund’s annualized net expense ratio, multiplied by the average account value over the period, multiplied by 174/365 (to reflect the actual period). The Fund commenced operations on May 10, 2023. |
274 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 275 |
276 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 277 |
278 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 279 |
280 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 281 |
282 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Dividends Received Deduction | |
JPMorgan BetaBuilders U.S. Equity ETF | 96.11 % |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | 62.65 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF | 64.88 |
JPMorgan Carbon Transition U.S. Equity ETF | 95.08 |
JPMorgan Diversified Return U.S. Equity ETF | 85.89 |
JPMorgan Diversified Return U.S. Mid Cap Equity ETF | 89.39 |
JPMorgan Diversified Return U.S. Small Cap Equity ETF | 68.29 |
JPMorgan U.S. Momentum Factor ETF | 100.00 |
JPMorgan U.S. Quality Factor ETF | 100.00 |
JPMorgan U.S. Value Factor ETF | 86.86 |
Qualified Dividend Income | |
JPMorgan BetaBuilders Canada ETF | $174,164,513 |
JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF | 121,169,044 |
JPMorgan BetaBuilders Emerging Markets Equity ETF | 4,912,868 |
JPMorgan BetaBuilders Europe ETF | 222,478,381 |
JPMorgan BetaBuilders International Equity ETF | 90,203,107 |
JPMorgan BetaBuilders Japan ETF | 120,952,486 |
JPMorgan BetaBuilders U.S. Equity ETF | 24,697,092 |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | 14,191,645 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF | 6,801,372 |
JPMorgan Carbon Transition U.S. Equity ETF | 308,596 |
JPMorgan Diversified Return Emerging Markets Equity ETF | 7,191,654 |
JPMorgan Diversified Return International Equity ETF | 18,356,685 |
Qualified Dividend Income | |
JPMorgan Diversified Return U.S. Equity ETF | $10,392,846 |
JPMorgan Diversified Return U.S. Mid Cap Equity ETF | 5,417,466 |
JPMorgan Diversified Return U.S. Small Cap Equity ETF | 4,754,896 |
JPMorgan U.S. Momentum Factor ETF | 3,468,175 |
JPMorgan U.S. Quality Factor ETF | 17,505,540 |
JPMorgan U.S. Value Factor ETF | 13,284,043 |
Qualified Business Income | |
JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | $2,677,975 |
JPMorgan BetaBuilders U.S. Small Cap Equity ETF | 678,859 |
JPMorgan Diversified Return U.S. Equity ETF | 487,473 |
JPMorgan Diversified Return U.S. Mid Cap Equity ETF | 356,520 |
JPMorgan Diversified Return U.S. Small Cap Equity ETF | 379,526 |
Total Foreign Source Income | Total Foreign Tax Credit | |
JPMorgan BetaBuilders Canada ETF | $200,327,522 | $25,956,694 |
JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF | 189,358,920 | 1,345,820 |
JPMorgan BetaBuilders Emerging Markets Equity ETF | 9,276,985 | 1,091,496 |
JPMorgan BetaBuilders Europe ETF | 274,686,739 | 23,254,782 |
JPMorgan BetaBuilders International Equity ETF | 114,405,479 | 8,632,092 |
JPMorgan BetaBuilders Japan ETF | 198,792,590 | 18,779,102 |
JPMorgan Diversified Return Emerging Markets Equity ETF | 14,207,945 | 1,559,611 |
JPMorgan Diversified Return International Equity ETF | 27,082,650 | 1,580,610 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 283 |
Fund | Ticker | Listing Exchange |
JPMorgan Active China ETF | JCHI | NYSE Arca, Inc. |
JPMorgan ActiveBuilders Emerging Markets Equity ETF | JEMA | Cboe BZX Exchange, Inc. |
JPMorgan Global Select Equity ETF | JGLO | The NASDAQ Stock Market LLC |
JPMorgan Hedged Equity Laddered Overlay ETF | HELO | NYSE Arca, Inc. |
JPMorgan International Growth ETF | JIG | NYSE Arca, Inc. |
JPMorgan International Value ETF | JIVE | The NASDAQ Stock Market LLC |
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2 | |
3 | |
6 | |
9 | |
12 | |
15 | |
18 | |
21 | |
46 | |
54 | |
56 | |
74 | |
75 | |
79 | |
81 | |
82 | |
83 | |
85 | |
88 |
"The strong performance of financial markets in 2023 created wider differences in equity valuations that may provide attractive opportunities for investors. Additionally, interest rate reductions next year could benefit high-quality fixed income investments.” — 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
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 1 |
2 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | (15.40)% |
Market Price ** | (15.06)% |
MSCI China All Shares Index (net total return) | (12.31)% |
Net Assets as of 10/31/2023 | $10,558,969 |
Fund Ticker | JCHI |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 3 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Tencent Holdings Ltd. (China) | 9.6 % |
2. | Alibaba Group Holding Ltd. (China) | 5.0 |
3. | Kweichow Moutai Co. Ltd., Class A (China) | 4.4 |
4. | China Merchants Bank Co. Ltd., Class H (China) | 3.9 |
5. | Meituan (China) | 3.7 |
6. | China Construction Bank Corp., Class H (China) | 3.5 |
7. | NetEase, Inc. (China) | 3.1 |
8. | Ping An Insurance Group Co. of China Ltd., Class H (China) | 3.0 |
9. | Haier Smart Home Co. Ltd., Class H (China) | 2.5 |
10. | China Yangtze Power Co. Ltd., Class A (China) | 2.5 |
PORTFOLIO COMPOSITION BY SECTOR AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Consumer Discretionary | 19.5% |
Communication Services | 15.8 |
Information Technology | 15.3 |
Financials | 14.1 |
Consumer Staples | 11.4 |
Health Care | 7.9 |
Materials | 3.8 |
Utilities | 3.8 |
Industrials | 3.3 |
Energy | 3.2 |
Real Estate | 1.8 |
Short-Term Investments | 0.1 |
4 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INCEPTION DATE | CUMULATIVE SINCE INCEPTION | |
JPMorgan Active China ETF | ||
Net Asset Value | March 15, 2023 | (15.40 )% |
Market Price | (15.06 ) |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 5 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | 10.61% |
Market Price ** | 10.27% |
MSCI Emerging Markets Index (net total return) | 10.80% |
Net Assets as of 10/31/2023 | $896,949,975 |
Fund Ticker | JEMA |
6 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) | 5.3 % |
2. | Samsung Electronics Co. Ltd. (South Korea) | 3.5 |
3. | Tencent Holdings Ltd. (China) | 3.2 |
4. | Alibaba Group Holding Ltd. (China) | 2.2 |
5. | Infosys Ltd. (India) | 1.7 |
6. | NetEase, Inc. (China) | 1.4 |
7. | SK Hynix, Inc. (South Korea) | 1.3 |
8. | HDFC Bank Ltd., ADR (India) | 1.1 |
9. | Tata Consultancy Services Ltd. (India) | 1.0 |
10. | HDFC Bank Ltd. (India) | 1.0 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
China | 28.9% |
India | 15.3 |
Taiwan | 15.0 |
South Korea | 12.4 |
Brazil | 6.0 |
South Africa | 3.8 |
Mexico | 3.5 |
Saudi Arabia | 3.0 |
Indonesia | 2.1 |
Thailand | 1.6 |
Hong Kong | 1.5 |
Others (each less than 1.0%) | 6.4 |
Short-Term Investments | 0.5 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 7 |
INCEPTION DATE | 1 YEAR | SINCE INCEPTION | |
JPMorgan ActiveBuilders Emerging Markets Equity ETF | |||
Net Asset Value | March 10, 2021 | 10.61 % | (11.35 )% |
Market Price | 10.27 | (11.37 ) |
8 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | (4.04)% |
Market Price ** | (3.90)% |
MSCI World Index (net total return) | (6.21)% |
Net Assets as of 10/31/2023 | $841,676,033 |
Fund Ticker | JGLO |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 9 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Microsoft Corp. | 7.4 % |
2. | Amazon.com, Inc. | 5.3 |
3. | UnitedHealth Group, Inc. | 4.2 |
4. | Coca-Cola Co. (The) | 3.2 |
5. | CME Group, Inc. | 3.1 |
6. | Taiwan Semiconductor Manufacturing Co. Ltd., ADR (Taiwan) | 2.9 |
7. | Meta Platforms, Inc., Class A | 2.8 |
8. | Progressive Corp. (The) | 2.7 |
9. | Mastercard, Inc., Class A | 2.7 |
10. | Apple, Inc. | 2.6 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
United States | 67.5% |
France | 6.6 |
United Kingdom | 3.7 |
Netherlands | 3.4 |
Taiwan | 2.9 |
Japan | 2.8 |
Denmark | 2.1 |
Germany | 2.0 |
Singapore | 1.3 |
South Korea | 1.2 |
Others (each less than 1.0%) | 5.2 |
Short-Term Investments | 1.3 |
10 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INCEPTION DATE | CUMULATIVE SINCE INCEPTION | |
JPMorgan Global Select Equity ETF | ||
Net Asset Value | September 13, 2023 | (4.04 )% |
Market Price | (3.90 ) |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 11 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | (1.44)% |
Market Price ** | (1.44)% |
S&P 500 Index | (2.36)% |
ICE BofA 3-Month US Treasury Bill Index | 0.49% |
Net Assets as of 10/31/2023 | $61,593,815 |
Fund Ticker | HELO |
12 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Microsoft Corp. | 7.6 % |
2. | Apple, Inc. | 7.1 |
3. | Amazon.com, Inc. | 3.9 |
4. | NVIDIA Corp. | 3.1 |
5. | Meta Platforms, Inc., Class A | 2.2 |
6. | Alphabet, Inc., Class A | 2.1 |
7. | UnitedHealth Group, Inc. | 1.8 |
8. | Exxon Mobil Corp. | 1.6 |
9. | Mastercard, Inc., Class A | 1.6 |
10. | Alphabet, Inc., Class C | 1.5 |
PORTFOLIO COMPOSITION BY SECTOR AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Information Technology | 27.1% |
Health Care | 13.0 |
Financials | 12.8 |
Consumer Discretionary | 11.3 |
Industrials | 8.5 |
Communication Services | 7.9 |
Consumer Staples | 6.2 |
Energy | 4.5 |
Utilities | 2.5 |
Materials | 2.3 |
Real Estate | 2.2 |
Put Options Purchased | 1.0 |
Short-Term Investments | 0.7 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 13 |
INCEPTION DATE | CUMULATIVE SINCE INCEPTION | |
JPMorgan Hedged Equity Laddered Overlay ETF | ||
Net Asset Value | September 28, 2023 | (1.44 )% |
Market Price | (1.44 ) |
14 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | 10.03% |
Market Price **, *** | 10.01% |
MSCI ACWI ex USA Growth Index (net total return) | 9.19% |
Net Assets as of 10/31/2023 | $82,105,027 |
Fund Ticker | JIG |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 15 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Taiwan Semiconductor Manufacturing Co. Ltd., ADR (Taiwan) | 5.1 % |
2. | Tencent Holdings Ltd. (China) | 3.8 |
3. | Nestle SA (Registered) | 3.7 |
4. | ASML Holding NV (Netherlands) | 3.3 |
5. | Novo Nordisk A/S, Class B (Denmark) | 2.9 |
6. | Air Liquide SA (France) | 2.5 |
7. | Safran SA (France) | 2.5 |
8. | Keyence Corp. (Japan) | 2.2 |
9. | LVMH Moet Hennessy Louis Vuitton SE (France) | 2.2 |
10. | AstraZeneca plc (United Kingdom) | 2.2 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Japan | 14.7% |
United Kingdom | 11.4 |
France | 11.1 |
United States | 9.6 |
China | 8.0 |
Canada | 5.5 |
Netherlands | 5.5 |
Taiwan | 5.1 |
Germany | 3.7 |
Sweden | 3.3 |
Denmark | 3.3 |
Spain | 2.5 |
Indonesia | 2.5 |
Australia | 2.1 |
India | 1.9 |
Brazil | 1.6 |
Singapore | 1.6 |
Switzerland | 1.4 |
Mexico | 1.2 |
Hong Kong | 1.0 |
Others (each less than 1.0%) | 1.7 |
Short-Term Investments | 1.3 |
16 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INCEPTION DATE | 1 YEAR | SINCE INCEPTION | |
JPMorgan International Growth ETF | |||
Net Asset Value | May 20, 2020 | 10.03 % | 0.84 % |
Market Price | 10.01 | 0.83 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 17 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | (4.15)% |
Market Price ** | (3.71)% |
MSCI ACWI ex USA Index (net total return) | (6.23)% |
MSCI ACWI ex USA Value Index (net total return) | (5.53)% |
Net Assets as of 10/31/2023 | $11,502,565 |
Fund Ticker | JIVE |
18 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Shell plc (Netherlands) | 2.1 % |
2. | Novartis AG (Registered) (Switzerland) | 1.9 |
3. | Alibaba Group Holding Ltd. (China) | 1.7 |
4. | Samsung Electronics Co. Ltd. (South Korea) | 1.6 |
5. | TotalEnergies SE (France) | 1.6 |
6. | HSBC Holdings plc (United Kingdom) | 1.5 |
7. | BHP Group Ltd. (Australia) | 1.5 |
8. | BP plc (United Kingdom) | 1.2 |
9. | Allianz SE (Registered) (Germany) | 1.1 |
10. | Mitsubishi UFJ Financial Group, Inc. (Japan) | 1.1 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Japan | 17.8% |
China | 9.3 |
South Korea | 6.3 |
France | 5.7 |
Canada | 5.5 |
Germany | 5.4 |
United Kingdom | 5.3 |
Australia | 5.2 |
Italy | 4.8 |
Netherlands | 3.7 |
Switzerland | 3.1 |
Taiwan | 3.1 |
United States | 3.1 |
Spain | 2.5 |
South Africa | 2.3 |
Brazil | 2.2 |
Sweden | 1.4 |
Austria | 1.3 |
Denmark | 1.3 |
Finland | 1.2 |
Norway | 1.2 |
Others (each less than 1.0%) | 5.4 |
Short-Term Investments | 2.9 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 19 |
INCEPTION DATE | CUMULATIVE SINCE INCEPTION | |
JPMorgan International Value ETF | ||
Net Asset Value | September 13, 2023 | (4.15 )% |
Market Price | (3.71 ) |
20 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 99.9% | ||
Automobile Components — 1.7% | ||
Fuyao Glass Industry Group Co. Ltd., Class A | 35,400 | 179,524 |
Banks — 9.0% | ||
China Construction Bank Corp., Class H | 646,000 | 365,351 |
China Merchants Bank Co. Ltd., Class H | 108,500 | 411,572 |
Postal Savings Bank of China Co. Ltd., Class H (a) | 373,000 | 170,248 |
947,171 | ||
Beverages — 6.2% | ||
Kweichow Moutai Co. Ltd., Class A | 2,000 | 459,083 |
Wuliangye Yibin Co. Ltd., Class A | 9,000 | 191,213 |
650,296 | ||
Broadline Retail — 6.8% | ||
Alibaba Group Holding Ltd. * | 51,000 | 525,049 |
JD.com, Inc., Class A | 15,100 | 191,969 |
717,018 | ||
Chemicals — 2.7% | ||
Skshu Paint Co. Ltd., Class A * | 9,940 | 80,642 |
Wanhua Chemical Group Co. Ltd., Class A | 16,800 | 203,111 |
283,753 | ||
Consumer Staples Distribution & Retail — 1.3% | ||
Yifeng Pharmacy Chain Co. Ltd., Class A | 30,800 | 137,513 |
Electrical Equipment — 1.0% | ||
Hongfa Technology Co. Ltd., Class A | 28,100 | 111,134 |
Electronic Equipment, Instruments & Components — 5.5% | ||
BOE Technology Group Co. Ltd., Class A | 414,400 | 221,379 |
Foxconn Industrial Internet Co. Ltd., Class A | 63,431 | 127,380 |
Sunny Optical Technology Group Co. Ltd. | 16,600 | 139,074 |
Xiamen Faratronic Co. Ltd., Class A | 6,700 | 91,122 |
578,955 | ||
Entertainment — 3.1% | ||
NetEase, Inc. | 15,300 | 327,444 |
Food Products — 3.9% | ||
Angel Yeast Co. Ltd., Class A | 24,700 | 117,707 |
Anjoy Foods Group Co. Ltd., Class A | 5,800 | 102,101 |
Inner Mongolia Yili Industrial Group Co. Ltd., Class A | 52,800 | 197,282 |
417,090 | ||
Gas Utilities — 1.3% | ||
ENN Energy Holdings Ltd. | 18,200 | 137,868 |
Health Care Equipment & Supplies — 2.3% | ||
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A | 6,200 | 241,524 |
INVESTMENTS | SHARES | VALUE($) |
Health Care Providers & Services — 1.3% | ||
Guangzhou Kingmed Diagnostics Group Co. Ltd., Class A | 16,000 | 134,955 |
Hotels, Restaurants & Leisure — 4.8% | ||
H World Group Ltd., ADR * | 3,175 | 119,570 |
Meituan * (a) | 27,700 | 392,648 |
512,218 | ||
Household Durables — 4.7% | ||
Haier Smart Home Co. Ltd., Class H | 94,600 | 269,830 |
Jason Furniture Hangzhou Co. Ltd., Class A | 24,400 | 123,104 |
Oppein Home Group, Inc., Class A | 8,600 | 101,994 |
494,928 | ||
Independent Power and Renewable Electricity Producers — 2.5% | ||
China Yangtze Power Co. Ltd., Class A | 85,100 | 261,656 |
Insurance — 5.2% | ||
China Pacific Insurance Group Co. Ltd., Class H | 93,600 | 230,571 |
Ping An Insurance Group Co. of China Ltd., Class H | 62,000 | 314,494 |
545,065 | ||
Interactive Media & Services — 10.9% | ||
Kanzhun Ltd., ADR * | 9,169 | 135,701 |
Tencent Holdings Ltd. | 27,400 | 1,014,040 |
1,149,741 | ||
Life Sciences Tools & Services — 1.8% | ||
Wuxi Biologics Cayman, Inc. * (a) | 30,500 | 189,641 |
Machinery — 2.2% | ||
Jiangsu Hengli Hydraulic Co. Ltd., Class A | 16,000 | 122,728 |
Zhuzhou CRRC Times Electric Co. Ltd., Class A | 4,200 | 22,159 |
Zhuzhou CRRC Times Electric Co. Ltd., Class H | 27,300 | 88,107 |
232,994 | ||
Media — 1.7% | ||
Focus Media Information Technology Co. Ltd., Class A | 195,800 | 184,471 |
Metals & Mining — 1.1% | ||
Baoshan Iron & Steel Co. Ltd., Class A | 137,300 | 117,062 |
Oil, Gas & Consumable Fuels — 3.2% | ||
China Petroleum & Chemical Corp., Class H | 338,000 | 172,866 |
PetroChina Co. Ltd., Class H | 252,000 | 164,484 |
337,350 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 21 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Pharmaceuticals — 2.6% | ||
Asymchem Laboratories Tianjin Co. Ltd., Class A | 7,800 | 160,429 |
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Class A | 18,600 | 109,284 |
269,713 | ||
Real Estate Management & Development — 1.8% | ||
KE Holdings, Inc., ADR | 12,946 | 190,436 |
Semiconductors & Semiconductor Equipment — 5.1% | ||
Flat Glass Group Co. Ltd., Class H * | 66,000 | 118,528 |
Hangzhou First Applied Material Co. Ltd., Class A | 29,820 | 103,844 |
LONGi Green Energy Technology Co. Ltd., Class A | 32,400 | 106,588 |
Montage Technology Co. Ltd., Class A | 27,513 | 206,719 |
535,679 | ||
Software — 3.0% | ||
Hundsun Technologies, Inc., Class A | 40,800 | 173,163 |
Kingdee International Software Group Co. Ltd. * | 112,000 | 148,609 |
321,772 | ||
Technology Hardware, Storage & Peripherals — 1.7% | ||
Lenovo Group Ltd. | 156,000 | 181,542 |
Textiles, Apparel & Luxury Goods — 1.5% | ||
Shenzhou International Group Holdings Ltd. | 16,200 | 159,124 |
Total Common Stocks (Cost $12,644,831) | 10,547,637 | |
Short-Term Investments — 0.1% | ||
Investment Companies — 0.1% | ||
JPMorgan Prime Money Market Fund Class IM, 5.49% (b) (c)(Cost $10,003) | 10,000 | 10,004 |
Total Investments — 100.0% (Cost $12,654,834) | 10,557,641 | |
Other Assets Less Liabilities — 0.0% | 1,328 | |
NET ASSETS — 100.0% | 10,558,969 |
Percentages indicated are based on net assets. |
Abbreviations | |
ADR | American Depositary Receipt |
* | Non-income producing security. |
(a) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of October 31, 2023. |
22 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 99.3% | ||
Australia — 0.1% | ||
Rio Tinto plc | 9,007 | 574,651 |
Brazil — 6.0% | ||
Ambev SA | 704,282 | 1,793,619 |
Arcos Dorados Holdings, Inc., Class A | 79,671 | 718,632 |
Atacadao SA | 514,374 | 916,166 |
B3 SA - Brasil Bolsa Balcao | 1,516,823 | 3,354,505 |
Banco Bradesco SA (Preference) | 479,840 | 1,334,330 |
Banco BTG Pactual SA | 96,771 | 570,444 |
Banco do Brasil SA | 474,583 | 4,553,098 |
BB Seguridade Participacoes SA | 182,906 | 1,113,018 |
Centrais Eletricas Brasileiras SA (Preference) | 89,450 | 681,287 |
Cia Energetica de Minas Gerais (Preference) | 265,344 | 616,290 |
Gerdau SA (Preference) | 119,082 | 516,788 |
Itau Unibanco Holding SA (Preference) | 846,859 | 4,504,935 |
Itausa SA * | 10,918 | 18,580 |
Itausa SA (Preference) | 694,548 | 1,191,618 |
Localiza Rent a Car SA | 224,024 | 2,265,678 |
Lojas Renner SA | 719,354 | 1,757,811 |
MercadoLibre, Inc. * | 4,526 | 5,615,589 |
Natura & Co. Holding SA * | 108,881 | 275,995 |
NU Holdings Ltd., Class A * | 85,577 | 701,731 |
Petroleo Brasileiro SA, ADR | 535,130 | 8,026,950 |
Porto Seguro SA * | 132,462 | 658,665 |
Raia Drogasil SA | 428,928 | 2,195,791 |
Rumo SA | 118,381 | 523,372 |
SLC Agricola SA | 50,361 | 366,589 |
Telefonica Brasil SA | 61,329 | 549,337 |
TIM SA | 782,012 | 2,356,079 |
TOTVS SA | 49,469 | 248,437 |
Transmissora Alianca de Energia Eletrica S/A | 107,676 | 723,571 |
Vale SA, ADR | 199,142 | 2,730,237 |
Vibra Energia SA * | 102,225 | 401,864 |
WEG SA | 436,220 | 2,849,154 |
54,130,160 | ||
Canada — 0.0% ^ | ||
B2Gold Corp. | 114,243 | 365,775 |
Chile — 0.4% | ||
Banco de Chile | 3,237,160 | 332,578 |
Banco Santander Chile | 68,971,633 | 3,007,009 |
Cencosud SA | 234,097 | 379,263 |
3,718,850 | ||
China — 28.9% | ||
3SBio, Inc. (a) | 330,962 | 294,438 |
INVESTMENTS | SHARES | VALUE($) |
China — continued | ||
Aier Eye Hospital Group Co. Ltd., Class A | 349,833 | 871,732 |
Airtac International Group | 30,562 | 1,004,805 |
Alibaba Group Holding Ltd. * | 1,889,486 | 19,452,408 |
Angel Yeast Co. Ltd., Class A | 205,109 | 977,442 |
Anhui Heli Co. Ltd., Class A | 115,100 | 261,992 |
Anjoy Foods Group Co. Ltd., Class A | 79,100 | 1,392,439 |
Anker Innovations Technology Co. Ltd., Class A | 33,100 | 422,562 |
Asymchem Laboratories Tianjin Co. Ltd., Class H (a) | 43,100 | 560,486 |
Baidu, Inc., Class A * | 157,750 | 2,071,070 |
Bank of China Ltd., Class H | 621,000 | 216,937 |
Bank of Jiangsu Co. Ltd., Class A | 500,400 | 470,514 |
Bank of Ningbo Co. Ltd., Class A | 196,900 | 670,190 |
Baoshan Iron & Steel Co. Ltd., Class A | 2,356,200 | 2,008,888 |
Beijing Kingsoft Office Software, Inc., Class A | 31,306 | 1,227,273 |
Beijing Oriental Yuhong Waterproof Technology Co. Ltd., Class A | 177,800 | 603,273 |
BOE Technology Group Co. Ltd., Class A | 1,287,800 | 687,964 |
Budweiser Brewing Co. APAC Ltd. (a) | 1,089,128 | 2,069,721 |
BYD Electronic International Co. Ltd. | 110,500 | 461,284 |
Chacha Food Co. Ltd., Class A | 141,800 | 715,210 |
China CITIC Bank Corp. Ltd., Class H | 823,000 | 367,147 |
China Construction Bank Corp., Class H | 9,476,000 | 5,359,228 |
China Life Insurance Co. Ltd., Class H | 214,000 | 289,841 |
China Merchants Bank Co. Ltd., Class H | 1,992,500 | 7,558,140 |
China Overseas Land & Investment Ltd. | 1,055,500 | 1,991,844 |
China Pacific Insurance Group Co. Ltd., Class H | 1,211,400 | 2,984,127 |
China Petroleum & Chemical Corp., Class H | 3,670,000 | 1,876,977 |
China Resources Gas Group Ltd. | 628,500 | 1,857,925 |
China Resources Land Ltd. | 516,000 | 1,931,444 |
China Resources Mixc Lifestyle Services Ltd. (a) | 248,482 | 969,432 |
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Class A | 122,700 | 720,919 |
China State Construction Engineering Corp. Ltd., Class A | 597,622 | 421,555 |
China United Network Communications Ltd., Class A | 499,200 | 303,223 |
China Yangtze Power Co. Ltd., Class A | 840,000 | 2,582,743 |
Chongqing Brewery Co. Ltd., Class A | 182,600 | 1,952,676 |
CITIC Securities Co. Ltd., Class H | 644,000 | 1,253,132 |
CMOC Group Ltd., Class H | 624,000 | 372,161 |
Contemporary Amperex Technology Co. Ltd., Class A | 46,400 | 1,174,280 |
CRRC Corp. Ltd., Class H | 1,380,000 | 574,941 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 23 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
China — continued | ||
DaShenLin Pharmaceutical Group Co. Ltd., Class A | 110,112 | 357,224 |
Dongfang Electric Corp. Ltd., Class H | 199,200 | 191,114 |
ENN Energy Holdings Ltd. | 69,000 | 522,685 |
Flat Glass Group Co. Ltd., Class H * | 266,000 | 477,704 |
Focus Media Information Technology Co. Ltd., Class A | 1,962,900 | 1,849,326 |
Foshan Haitian Flavouring & Food Co. Ltd., Class A | 126,830 | 650,572 |
Foxconn Industrial Internet Co. Ltd., Class A | 861,100 | 1,729,230 |
Fuyao Glass Industry Group Co. Ltd., Class H (a) | 954,000 | 4,349,374 |
GF Securities Co. Ltd., Class H | 348,000 | 453,083 |
Gree Electric Appliances, Inc. of Zhuhai, Class A | 115,700 | 534,850 |
Guangdong Investment Ltd. | 1,030,000 | 702,854 |
Guangzhou Kingmed Diagnostics Group Co. Ltd., Class A | 65,900 | 555,847 |
H World Group Ltd. * | 931,386 | 3,501,018 |
Haier Smart Home Co. Ltd., Class H | 2,624,200 | 7,485,082 |
Hangzhou First Applied Material Co. Ltd., Class A | 97,360 | 339,042 |
Hefei Meiya Optoelectronic Technology, Inc., Class A | 383,621 | 1,014,490 |
Hongfa Technology Co. Ltd., Class A | 216,800 | 857,434 |
Huayu Automotive Systems Co. Ltd., Class A | 570,046 | 1,362,592 |
Hundsun Technologies, Inc., Class A | 214,500 | 910,376 |
Imeik Technology Development Co. Ltd., Class A | 11,500 | 516,755 |
Industrial & Commercial Bank of China Ltd., Class H | 517,000 | 247,769 |
Inner Mongolia Yili Industrial Group Co. Ltd., Class A | 1,660,413 | 6,203,970 |
JA Solar Technology Co. Ltd., Class A | 142,400 | 434,781 |
Jason Furniture Hangzhou Co. Ltd., Class A | 110,636 | 558,184 |
JD Health International, Inc. * (a) | 270,820 | 1,230,140 |
JD.com, Inc., Class A | 467,102 | 5,938,344 |
Jiangsu Hengli Hydraulic Co. Ltd., Class A | 330,200 | 2,532,801 |
Jiangsu Yuyue Medical Equipment & Supply Co. Ltd., Class A | 72,900 | 334,117 |
Jiangxi Copper Co. Ltd., Class H | 132,000 | 186,642 |
Joyoung Co. Ltd., Class A | 314,400 | 571,884 |
Kanzhun Ltd., ADR * | 103,125 | 1,526,250 |
KE Holdings, Inc., Class A | 129,768 | 639,350 |
Kingdee International Software Group Co. Ltd. * | 1,040,000 | 1,379,943 |
Kunlun Energy Co. Ltd. | 654,000 | 544,850 |
INVESTMENTS | SHARES | VALUE($) |
China — continued | ||
Kweichow Moutai Co. Ltd., Class A | 31,300 | 7,184,654 |
Lenovo Group Ltd. | 206,000 | 239,729 |
Lens Technology Co. Ltd., Class A | 233,800 | 416,285 |
LONGi Green Energy Technology Co. Ltd., Class A | 283,696 | 933,287 |
Luzhou Laojiao Co. Ltd., Class A | 47,300 | 1,380,790 |
Meituan * (a) | 604,128 | 8,563,523 |
Midea Group Co. Ltd., Class A | 632,412 | 4,559,752 |
Minth Group Ltd. | 114,000 | 254,474 |
Montage Technology Co. Ltd., Class A | 78,311 | 588,391 |
NARI Technology Co. Ltd., Class A | 560,448 | 1,724,671 |
NetEase, Inc. | 588,548 | 12,595,840 |
Ningbo Tuopu Group Co. Ltd., Class A | 53,200 | 468,351 |
Offshore Oil Engineering Co. Ltd., Class A | 357,900 | 303,060 |
Oppein Home Group, Inc., Class A | 56,784 | 673,446 |
PDD Holdings, Inc., ADR * | 51,288 | 5,201,629 |
PetroChina Co. Ltd., Class H | 1,144,000 | 746,707 |
PICC Property & Casualty Co. Ltd., Class H | 1,546,000 | 1,765,463 |
Ping An Bank Co. Ltd., Class A | 1,058,156 | 1,508,449 |
Ping An Insurance Group Co. of China Ltd., Class H | 1,695,500 | 8,600,384 |
Poly Developments and Holdings Group Co. Ltd., Class A | 444,300 | 666,437 |
Postal Savings Bank of China Co. Ltd., Class H (a) | 851,000 | 388,421 |
Qingdao Haier Biomedical Co. Ltd., Class A | 51,422 | 255,984 |
Sanquan Food Co. Ltd., Class A | 136,800 | 272,588 |
Sany Heavy Industry Co. Ltd., Class A | 194,100 | 382,511 |
Shanghai Baosight Software Co. Ltd., Class A | 281,651 | 1,636,895 |
Shenzhen Inovance Technology Co. Ltd., Class A | 69,300 | 570,938 |
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A | 57,700 | 2,247,734 |
Shenzhou International Group Holdings Ltd. | 233,700 | 2,295,512 |
Sichuan Road and Bridge Group Co. Ltd., Class A | 247,300 | 259,761 |
Sichuan Swellfun Co. Ltd., Class A | 80,800 | 673,002 |
Silergy Corp. | 300,414 | 2,685,052 |
Sinopharm Group Co. Ltd., Class H | 160,000 | 382,605 |
Sinotrans Ltd., Class H | 948,000 | 311,572 |
Skshu Paint Co. Ltd., Class A * | 209,656 | 1,700,913 |
Sunny Optical Technology Group Co. Ltd. | 51,888 | 434,714 |
Sunresin New Materials Co. Ltd., Class A | 95,100 | 704,380 |
SUPCON Technology Co. Ltd., Class A | 132,529 | 788,157 |
Tencent Holdings Ltd. | 772,900 | 28,604,068 |
Tingyi Cayman Islands Holding Corp. | 1,550,000 | 2,056,037 |
24 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
China — continued | ||
Topsports International Holdings Ltd. (a) | 1,560,652 | 1,312,418 |
Trip.com Group Ltd. * | 59,518 | 2,028,470 |
Tsingtao Brewery Co. Ltd. | 36,000 | 273,007 |
Vipshop Holdings Ltd., ADR * | 26,237 | 374,140 |
Wanhua Chemical Group Co. Ltd., Class A | 196,900 | 2,380,505 |
Warom Technology, Inc. Co., Class A | 93,200 | 215,788 |
Wuliangye Yibin Co. Ltd., Class A | 238,900 | 5,075,642 |
WuXi AppTec Co. Ltd., Class H (a) | 35,800 | 430,192 |
Wuxi Biologics Cayman, Inc. * (a) | 779,318 | 4,845,598 |
Xiamen Faratronic Co. Ltd., Class A | 40,600 | 552,175 |
Xinyi Glass Holdings Ltd. | 1,078,000 | 1,238,644 |
Xinyi Solar Holdings Ltd. | 1,003,496 | 590,567 |
Yifeng Pharmacy Chain Co. Ltd., Class A | 107,080 | 478,080 |
Yixintang Pharmaceutical Group Co. Ltd., Class A | 109,700 | 317,809 |
Yum China Holdings, Inc. | 91,830 | 4,826,585 |
Yutong Bus Co. Ltd., Class A | 184,800 | 343,399 |
Zhejiang Dingli Machinery Co. Ltd., Class A | 40,500 | 300,605 |
Zhejiang Jingsheng Mechanical & Electrical Co. Ltd., Class A | 100,800 | 597,439 |
Zhejiang Supor Co. Ltd., Class A | 192,173 | 1,313,360 |
Zhejiang Weixing New Building Materials Co. Ltd., Class A | 111,100 | 249,587 |
Zhuhai Huafa Properties Co. Ltd., Class A | 250,100 | 286,032 |
Zhuzhou CRRC Times Electric Co. Ltd., Class H | 239,900 | 774,246 |
Zijin Mining Group Co. Ltd., Class H | 968,000 | 1,497,411 |
ZTO Express Cayman, Inc. | 81,306 | 1,904,396 |
258,904,301 | ||
Colombia — 0.1% | ||
Bancolombia SA (Preference) | 31,097 | 199,456 |
Ecopetrol SA | 600,661 | 353,596 |
553,052 | ||
Czech Republic — 0.0% ^ | ||
Komercni Banka A/S | 12,217 | 358,063 |
Ghana — 0.1% | ||
Kosmos Energy Ltd. * | 87,689 | 634,868 |
Greece — 0.5% | ||
Alpha Services and Holdings SA * | 252,102 | 377,380 |
Hellenic Telecommunications Organization SA | 51,033 | 715,299 |
JUMBO SA | 18,338 | 482,369 |
Motor Oil Hellas Corinth Refineries SA | 13,345 | 317,708 |
Mytilineos SA | 13,595 | 503,183 |
National Bank of Greece SA * | 86,766 | 496,939 |
INVESTMENTS | SHARES | VALUE($) |
Greece — continued | ||
OPAP SA | 50,776 | 860,058 |
Piraeus Financial Holdings SA * | 120,310 | 356,616 |
4,109,552 | ||
Hong Kong — 1.5% | ||
AIA Group Ltd. | 651,400 | 5,656,633 |
ASMPT Ltd. | 42,700 | 361,650 |
Cathay Pacific Airways Ltd. * | 360,000 | 361,905 |
Hang Seng Bank Ltd. | 77,500 | 886,064 |
Hong Kong Exchanges & Clearing Ltd. | 98,500 | 3,445,791 |
Prudential plc | 15,111 | 158,006 |
Techtronic Industries Co. Ltd. | 255,500 | 2,332,594 |
13,202,643 | ||
Hungary — 0.4% | ||
MOL Hungarian Oil & Gas plc | 56,744 | 451,503 |
OTP Bank Nyrt. | 59,329 | 2,208,227 |
Richter Gedeon Nyrt. | 21,714 | 509,134 |
3,168,864 | ||
India — 15.2% | ||
Asian Paints Ltd. | 15,130 | 545,001 |
Axis Bank Ltd. | 375,489 | 4,430,700 |
Bajaj Auto Ltd. | 15,114 | 964,135 |
Bank of Baroda | 174,224 | 410,806 |
Bharat Electronics Ltd. | 575,868 | 922,594 |
Biocon Ltd. | 89,838 | 237,080 |
Birlasoft Ltd. | 63,412 | 417,473 |
Britannia Industries Ltd. | 61,129 | 3,251,777 |
Cholamandalam Investment and Finance Co. Ltd. | 163,874 | 2,239,458 |
Coforge Ltd. | 35,029 | 2,098,943 |
Colgate-Palmolive India Ltd. | 78,154 | 1,984,272 |
Computer Age Management Services Ltd. | 31,235 | 843,127 |
Cummins India Ltd. | 39,285 | 791,294 |
Dr Lal PathLabs Ltd. (a) | 8,090 | 235,017 |
Dr Reddy's Laboratories Ltd. | 16,248 | 1,048,721 |
Eicher Motors Ltd. | 34,003 | 1,345,772 |
HCL Technologies Ltd. | 152,359 | 2,336,948 |
HDFC Asset Management Co. Ltd. (a) | 20,710 | 680,266 |
HDFC Bank Ltd., ADR | 175,476 | 9,923,168 |
HDFC Bank Ltd. | 499,592 | 8,865,030 |
HDFC Life Insurance Co. Ltd. (a) | 709,425 | 5,270,085 |
Hindustan Petroleum Corp. Ltd. * | 102,765 | 305,736 |
Hindustan Unilever Ltd. | 240,763 | 7,185,183 |
ICICI Bank Ltd. | 779,456 | 8,575,421 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 25 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
India — continued | ||
Info Edge India Ltd. | 32,585 | 1,599,112 |
Infosys Ltd. | 928,359 | 15,267,575 |
InterGlobe Aviation Ltd. * (a) | 13,051 | 384,647 |
ITC Ltd. | 460,525 | 2,370,571 |
Jindal Steel & Power Ltd. | 45,214 | 344,267 |
Jubilant Foodworks Ltd. | 81,952 | 493,113 |
Kajaria Ceramics Ltd. | 29,731 | 450,417 |
Kotak Mahindra Bank Ltd. | 353,996 | 7,400,226 |
Larsen & Toubro Ltd. | 5,373 | 189,081 |
Mahindra & Mahindra Ltd. | 214,493 | 3,759,050 |
Maruti Suzuki India Ltd. | 24,851 | 3,103,311 |
Metropolis Healthcare Ltd. (a) | 25,420 | 429,237 |
Multi Commodity Exchange of India Ltd. | 21,278 | 595,696 |
NCC Ltd. | 257,055 | 446,279 |
Oil & Natural Gas Corp. Ltd. | 444,881 | 995,459 |
Petronet LNG Ltd. | 718,524 | 1,722,274 |
Power Finance Corp. Ltd. | 199,014 | 589,379 |
Power Grid Corp. of India Ltd. | 661,839 | 1,607,433 |
Reliance Industries Ltd. | 291,360 | 8,011,756 |
Shriram Finance Ltd. | 107,944 | 2,435,774 |
State Bank of India | 87,160 | 592,259 |
Tata Consultancy Services Ltd. | 226,353 | 9,163,583 |
Triveni Turbine Ltd. * | 63,429 | 273,657 |
Tube Investments of India Ltd. | 49,805 | 1,884,205 |
UltraTech Cement Ltd. | 32,657 | 3,305,021 |
United Spirits Ltd. * | 168,237 | 2,086,348 |
WNS Holdings Ltd., ADR * | 35,651 | 1,936,562 |
Zensar Technologies Ltd. | 59,964 | 353,074 |
136,697,373 | ||
Indonesia — 2.1% | ||
Adaro Energy Indonesia Tbk. PT | 1,465,600 | 236,473 |
Astra International Tbk. PT | 1,069,400 | 389,026 |
Bank Central Asia Tbk. PT | 10,573,900 | 5,825,380 |
Bank Mandiri Persero Tbk. PT | 2,242,400 | 801,102 |
Bank Negara Indonesia Persero Tbk. PT | 1,659,800 | 500,905 |
Bank Rakyat Indonesia Persero Tbk. PT | 21,703,570 | 6,786,357 |
GoTo Gojek Tokopedia Tbk. PT * | 68,217,200 | 258,083 |
Indah Kiat Pulp & Paper Tbk. PT | 263,800 | 159,441 |
Indofood CBP Sukses Makmur Tbk. PT | 376,400 | 245,247 |
Sumber Alfaria Trijaya Tbk. PT | 1,501,200 | 273,117 |
Telkom Indonesia Persero Tbk. PT | 12,482,500 | 2,736,361 |
Unilever Indonesia Tbk. PT | 862,400 | 196,531 |
United Tractors Tbk. PT | 179,700 | 284,377 |
18,692,400 |
INVESTMENTS | SHARES | VALUE($) |
Kuwait — 0.1% | ||
National Bank of Kuwait SAKP | 291,504 | 826,343 |
Macau — 0.1% | ||
Sands China Ltd. * | 309,512 | 833,222 |
Malaysia — 0.4% | ||
CIMB Group Holdings Bhd. | 364,000 | 436,107 |
Hong Leong Bank Bhd. | 76,700 | 312,307 |
IHH Healthcare Bhd. | 180,400 | 227,087 |
Kuala Lumpur Kepong Bhd. | 39,700 | 183,261 |
Malayan Banking Bhd. | 233,000 | 441,199 |
Petronas Chemicals Group Bhd. | 207,100 | 319,350 |
Press Metal Aluminium Holdings Bhd. | 232,100 | 239,916 |
Public Bank Bhd. | 1,614,800 | 1,410,369 |
Tenaga Nasional Bhd. | 206,800 | 429,703 |
3,999,299 | ||
Mexico — 3.5% | ||
America Movil SAB de CV | 811,485 | 671,099 |
Arca Continental SAB de CV | 95,198 | 854,242 |
Bolsa Mexicana de Valores SAB de CV | 409,699 | 637,875 |
Cemex SAB de CV * | 603,263 | 361,041 |
Coca-Cola Femsa SAB de CV | 41,566 | 315,993 |
Corp. Inmobiliaria Vesta SAB de CV | 235,562 | 738,736 |
Fomento Economico Mexicano SAB de CV | 164,363 | 1,858,326 |
Gentera SAB de CV | 587,114 | 621,991 |
Grupo Aeroportuario del Centro Norte SAB de CV | 36,647 | 280,935 |
Grupo Aeroportuario del Pacifico SAB de CV, Class B | 235,731 | 2,752,178 |
Grupo Aeroportuario del Sureste SAB de CV, Class B | 72,546 | 1,569,302 |
Grupo Financiero Banorte SAB de CV, Class O | 916,091 | 7,421,104 |
Kimberly-Clark de Mexico SAB de CV, Class A | 1,338,036 | 2,452,089 |
Qualitas Controladora SAB de CV | 51,364 | 424,581 |
Regional SAB de CV | 116,552 | 883,336 |
Southern Copper Corp. | 14,782 | 1,048,044 |
Wal-Mart de Mexico SAB de CV | 2,300,295 | 8,242,224 |
31,133,096 | ||
Panama — 0.1% | ||
Copa Holdings SA, Class A | 5,609 | 457,975 |
Peru — 0.4% | ||
Credicorp Ltd. | 28,278 | 3,533,619 |
Philippines — 0.2% | ||
Ayala Corp. | 19,170 | 204,961 |
Ayala Land, Inc. | 545,400 | 268,365 |
26 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Philippines — continued | ||
Bank of the Philippine Islands | 134,555 | 238,329 |
BDO Unibank, Inc. | 156,440 | 352,142 |
International Container Terminal Services, Inc. | 59,890 | 212,192 |
SM Investments Corp. | 16,960 | 239,701 |
SM Prime Holdings, Inc. | 467,600 | 247,233 |
1,762,923 | ||
Poland — 0.6% | ||
Bank Polska Kasa Opieki SA | 31,492 | 956,954 |
Dino Polska SA * (a) | 10,882 | 1,031,127 |
KRUK SA | 3,827 | 423,360 |
Powszechny Zaklad Ubezpieczen SA | 294,023 | 3,327,129 |
5,738,570 | ||
Portugal — 0.2% | ||
Jeronimo Martins SGPS SA | 91,284 | 2,104,541 |
Qatar — 0.5% | ||
Industries Qatar QSC | 479,300 | 1,610,135 |
Ooredoo QPSC | 181,124 | 491,985 |
Qatar Gas Transport Co. Ltd. | 615,464 | 595,011 |
Qatar National Bank QPSC | 402,984 | 1,648,017 |
4,345,148 | ||
Russia — 0.0% ^ | ||
Gazprom PJSC, ADR ‡ * | 12,780 | 1,426 |
Gazprom PJSC ‡ * | 1,135,066 | 58,080 |
Magnitogorsk Iron & Steel Works PJSC, GDR ‡ * | 12,378 | 1,869 |
MMC Norilsk Nickel PJSC, ADR ‡ * | 2,018 | 969 |
MMC Norilsk Nickel PJSC ‡ * | 2,036 | 8,755 |
Moscow Exchange MICEX-RTS PJSC ‡ | 571,670 | 13,582 |
Rosneft Oil Co. PJSC ‡ | 141,777 | 9,388 |
Sberbank of Russia PJSC ‡ | 629,236 | 17,654 |
Severstal PAO, GDR ‡ * (a) | 98,048 | 31,375 |
VTB Bank PJSC ‡ * | 168,450,798 | 793 |
X5 Retail Group NV, GDR ‡ * (a) | 13,771 | 3,324 |
147,215 | ||
Saudi Arabia — 3.0% | ||
Al Rajhi Bank | 192,618 | 3,447,971 |
Aldrees Petroleum and Transport Services Co. | 14,618 | 458,819 |
Alinma Bank | 157,360 | 1,381,091 |
Almarai Co. JSC | 16,875 | 251,443 |
Arabian Centres Co. Ltd. | 64,309 | 343,863 |
Arabian Contracting Services Co. | 14,051 | 755,809 |
Arabian Drilling Co. * | 15,023 | 702,376 |
INVESTMENTS | SHARES | VALUE($) |
Saudi Arabia — continued | ||
Elm Co. | 4,952 | 925,563 |
Etihad Etisalat Co. | 50,965 | 626,262 |
Jarir Marketing Co. | 77,790 | 300,245 |
Leejam Sports Co. JSC | 15,867 | 649,635 |
Mouwasat Medical Services Co. | 49,926 | 1,330,792 |
Nahdi Medical Co. | 9,126 | 345,056 |
Riyad Bank | 116,978 | 827,851 |
Riyadh Cables Group Co. | 43,959 | 859,172 |
Sahara International Petrochemical Co. | 58,647 | 505,151 |
Saudi Airlines Catering Co. | 18,364 | 511,036 |
Saudi Arabian Oil Co. (a) | 286,751 | 2,547,599 |
Saudi Awwal Bank | 78,658 | 702,346 |
Saudi Basic Industries Corp. | 79,188 | 1,627,254 |
Saudi National Bank (The) | 477,964 | 4,276,894 |
Saudi Telecom Co. | 148,899 | 1,525,339 |
Saudia Dairy & Foodstuff Co. | 9,140 | 730,888 |
Theeb Rent A Car Co. | 15,959 | 259,765 |
United International Transportation Co. | 52,923 | 949,365 |
26,841,585 | ||
South Africa — 3.8% | ||
Absa Group Ltd. | 56,210 | 512,896 |
Anglo American plc | 60,726 | 1,547,275 |
AVI Ltd. | 279,426 | 1,044,776 |
Bid Corp. Ltd. | 198,304 | 4,206,971 |
Bidvest Group Ltd. (The) | 157,528 | 2,229,777 |
Capitec Bank Holdings Ltd. | 48,129 | 4,276,486 |
Clicks Group Ltd. | 163,375 | 2,407,475 |
FirstRand Ltd. | 1,784,256 | 5,882,152 |
Gold Fields Ltd. | 38,237 | 504,420 |
MTN Group Ltd. | 123,577 | 603,248 |
Naspers Ltd., Class N * | 14,607 | 2,280,165 |
Sanlam Ltd. | 611,517 | 2,144,862 |
Shoprite Holdings Ltd. | 82,977 | 1,063,308 |
Sibanye Stillwater Ltd. | 137,117 | 174,900 |
Standard Bank Group Ltd. | 264,115 | 2,591,763 |
Truworths International Ltd. | 71,946 | 291,451 |
Vodacom Group Ltd. | 347,938 | 1,894,127 |
33,656,052 | ||
South Korea — 12.4% | ||
AfreecaTV Co. Ltd. | 10,696 | 532,592 |
BGF retail Co. Ltd. | 12,777 | 1,306,597 |
CJ CheilJedang Corp. | 3,887 | 814,314 |
Coupang, Inc. * | 30,855 | 524,535 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 27 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
South Korea — continued | ||
Coway Co. Ltd. | 14,706 | 470,604 |
DB Insurance Co. Ltd. | 5,600 | 364,330 |
Eugene Technology Co. Ltd. | 27,952 | 792,780 |
HAESUNG DS Co. Ltd. | 7,100 | 233,617 |
Hana Financial Group, Inc. | 85,453 | 2,484,698 |
Hankook Tire & Technology Co. Ltd. | 48,131 | 1,365,550 |
Hansol Chemical Co. Ltd. | 2,886 | 322,064 |
HK inno N Corp. | 16,246 | 521,237 |
HL Mando Co. Ltd. | 6,679 | 162,655 |
Hotel Shilla Co. Ltd. | 10,222 | 472,980 |
HSD Engine Co. Ltd. * | 51,335 | 291,984 |
Hugel, Inc. * | 13,623 | 1,437,259 |
Hyundai Glovis Co. Ltd. | 7,005 | 889,011 |
Hyundai Marine & Fire Insurance Co. Ltd. | 30,307 | 706,971 |
Hyundai Mobis Co. Ltd. | 19,256 | 2,982,076 |
Hyundai Motor Co. | 16,438 | 2,070,928 |
Industrial Bank of Korea | 86,102 | 712,578 |
KakaoBank Corp. | 12,999 | 175,919 |
KB Financial Group, Inc. | 159,995 | 6,098,732 |
Kia Corp. | 78,363 | 4,476,992 |
KIWOOM Securities Co. Ltd. | 13,799 | 825,030 |
Korea Investment Holdings Co. Ltd. | 18,480 | 690,849 |
Korean Air Lines Co. Ltd. | 37,131 | 564,955 |
Kumho Petrochemical Co. Ltd. | 4,980 | 468,053 |
LG Chem Ltd. | 15,678 | 5,138,342 |
LG Energy Solution Ltd. * | 4,384 | 1,256,756 |
LG H&H Co. Ltd. | 5,251 | 1,231,067 |
Lotte Chemical Corp. | 2,180 | 236,741 |
NAVER Corp. | 26,911 | 3,762,243 |
NCSoft Corp. | 12,422 | 2,146,110 |
Nexon Games Co. Ltd. * | 18,568 | 207,190 |
Orion Corp. | 4,466 | 395,264 |
Pan Ocean Co. Ltd. | 107,737 | 343,962 |
POSCO Holdings, Inc. | 3,020 | 924,498 |
Samsung Biologics Co. Ltd. * (a) | 4,011 | 2,108,610 |
Samsung C&T Corp. | 19,732 | 1,560,125 |
Samsung Electro-Mechanics Co. Ltd. | 17,957 | 1,660,325 |
Samsung Electronics Co. Ltd. | 629,648 | 31,340,652 |
Samsung Engineering Co. Ltd. * | 23,145 | 407,922 |
Samsung Fire & Marine Insurance Co. Ltd. | 6,857 | 1,311,213 |
Samsung Life Insurance Co. Ltd. | 11,792 | 631,336 |
Samsung SDS Co. Ltd. | 3,149 | 322,788 |
Samsung Securities Co. Ltd. | 7,240 | 189,662 |
Shinhan Financial Group Co. Ltd. | 108,557 | 2,790,373 |
INVESTMENTS | SHARES | VALUE($) |
South Korea — continued | ||
SK Hynix, Inc. | 130,133 | 11,301,026 |
SK IE Technology Co. Ltd. * (a) | 3,911 | 172,455 |
SK Innovation Co. Ltd. * | 11,285 | 1,028,115 |
SK Telecom Co. Ltd. | 64,403 | 2,348,580 |
SK, Inc. | 13,291 | 1,401,283 |
SKC Co. Ltd. | 16,422 | 960,386 |
SM Entertainment Co. Ltd. | 6,457 | 484,240 |
S-Oil Corp. | 34,882 | 1,721,517 |
ST Pharm Co. Ltd. | 5,469 | 275,999 |
YG Entertainment, Inc. | 8,638 | 352,570 |
Yuhan Corp. | 7,945 | 338,681 |
111,109,921 | ||
Spain — 0.0% ^ | ||
Banco Bilbao Vizcaya Argentaria SA | 45,508 | 358,022 |
Switzerland — 0.0% ^ | ||
Wizz Air Holdings plc * (a) | 10,035 | 189,170 |
Taiwan — 15.0% | ||
Accton Technology Corp. | 301,000 | 4,663,776 |
Advantech Co. Ltd. | 438,629 | 4,504,606 |
ASE Technology Holding Co. Ltd. | 750,000 | 2,625,736 |
Asia Vital Components Co. Ltd. | 64,000 | 565,518 |
ASMedia Technology, Inc. | 19,000 | 777,602 |
ASPEED Technology, Inc. | 13,500 | 1,078,889 |
AUO Corp. | 865,000 | 418,699 |
Cathay Financial Holding Co. Ltd. | 1,157,000 | 1,570,107 |
Chailease Holding Co. Ltd. | 492,974 | 2,674,162 |
China Airlines Ltd. | 441,000 | 264,360 |
China Steel Corp. | 2,632,000 | 1,963,614 |
Chroma ATE, Inc. | 83,000 | 560,881 |
Chunghwa Telecom Co. Ltd. | 312,000 | 1,115,881 |
CTBC Financial Holding Co. Ltd. | 3,138,000 | 2,363,238 |
Delta Electronics, Inc. | 620,000 | 5,587,373 |
E.Sun Financial Holding Co. Ltd. | 3,379,013 | 2,489,790 |
Eclat Textile Co. Ltd. | 153,000 | 2,435,185 |
eMemory Technology, Inc. | 29,000 | 1,816,892 |
Faraday Technology Corp. | 147,000 | 1,385,935 |
Feng TAY Enterprise Co. Ltd. | 77,520 | 428,052 |
Fubon Financial Holding Co. Ltd. | 1,641,930 | 3,053,324 |
Global Unichip Corp. | 46,000 | 2,055,879 |
Hon Hai Precision Industry Co. Ltd. | 1,243,000 | 3,710,000 |
Jentech Precision Industrial Co. Ltd. | 20,000 | 356,660 |
Largan Precision Co. Ltd. | 39,000 | 2,497,827 |
Lite-On Technology Corp. | 260,000 | 809,513 |
28 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Taiwan — continued | ||
Makalot Industrial Co. Ltd. | 70,000 | 783,471 |
MediaTek, Inc. | 121,000 | 3,158,023 |
Mega Financial Holding Co. Ltd. | 1,444,824 | 1,639,491 |
Micro-Star International Co. Ltd. | 173,000 | 885,644 |
Nan Ya Plastics Corp. | 584,000 | 1,117,380 |
Nien Made Enterprise Co. Ltd. | 83,000 | 734,330 |
Novatek Microelectronics Corp. | 389,000 | 5,478,316 |
Nuvoton Technology Corp. | 87,000 | 343,290 |
President Chain Store Corp. | 402,000 | 3,197,649 |
Primax Electronics Ltd. | 168,000 | 358,803 |
Quanta Computer, Inc. | 515,000 | 3,040,718 |
Realtek Semiconductor Corp. | 456,000 | 5,683,070 |
Taiwan Cement Corp. | 531,961 | 530,055 |
Taiwan Semiconductor Manufacturing Co. Ltd. | 2,915,000 | 47,609,293 |
Unimicron Technology Corp. | 286,000 | 1,275,536 |
United Microelectronics Corp. | 927,000 | 1,333,132 |
Vanguard International Semiconductor Corp. | 1,030,000 | 2,236,875 |
Wiwynn Corp. | 52,000 | 2,463,924 |
Yageo Corp. | 69,000 | 1,124,945 |
134,767,444 | ||
Thailand — 1.6% | ||
Advanced Info Service PCL | 129,100 | 790,726 |
Airports of Thailand PCL * | 519,500 | 964,512 |
Bangkok Bank PCL, NVDR | 102,700 | 450,042 |
Bangkok Dusit Medical Services PCL, Class F | 803,900 | 592,035 |
Bumrungrad Hospital PCL, NVDR | 39,400 | 284,764 |
Central Pattana PCL, NVDR | 207,000 | 360,106 |
Central Retail Corp. PCL, NVDR | 175,900 | 179,898 |
CP ALL PCL | 390,800 | 597,005 |
Delta Electronics Thailand PCL, NVDR | 204,200 | 448,882 |
Gulf Energy Development PCL | 258,900 | 311,596 |
Intouch Holdings PCL, NVDR | 129,200 | 255,205 |
Kasikornbank PCL, NVDR | 71,900 | 262,956 |
Krung Thai Bank PCL, NVDR | 1,360,400 | 711,305 |
Minor International PCL, NVDR | 229,200 | 178,611 |
PTT Exploration & Production PCL | 573,200 | 2,617,707 |
PTT Global Chemical PCL | 181,100 | 173,933 |
PTT PCL | 726,400 | 668,295 |
SCB X PCL | 924,700 | 2,517,888 |
Siam Cement PCL (The) (Registered) | 232,900 | 1,865,667 |
Thai Oil PCL | 365,163 | 478,109 |
14,709,242 |
INVESTMENTS | SHARES | VALUE($) |
Turkey — 0.1% | ||
BIM Birlesik Magazalar A/S | 55,307 | 531,211 |
Ford Otomotiv Sanayi A/S | 12,352 | 342,961 |
KOC Holding A/S | 32,954 | 159,401 |
1,033,573 | ||
United Arab Emirates — 0.9% | ||
Abu Dhabi Commercial Bank PJSC | 99,439 | 217,396 |
Abu Dhabi Islamic Bank PJSC | 252,159 | 707,116 |
ADNOC Drilling Co. PJSC | 392,242 | 388,718 |
Adnoc Gas plc * | 376,837 | 329,335 |
ADNOC Logistics & Services | 343,745 | 315,388 |
Aldar Properties PJSC | 672,799 | 952,506 |
Dubai Electricity & Water Authority PJSC | 1,957,379 | 1,268,326 |
Dubai Islamic Bank PJSC | 173,313 | 254,803 |
Emaar Properties PJSC | 729,118 | 1,328,296 |
Emirates NBD Bank PJSC | 171,187 | 789,986 |
Fertiglobe plc | 606,975 | 530,760 |
First Abu Dhabi Bank PJSC | 391,879 | 1,352,852 |
8,435,482 | ||
United Kingdom — 0.2% | ||
Anglogold Ashanti plc | 17,198 | 317,461 |
Endava plc, ADR * | 3,073 | 154,142 |
HSBC Holdings plc | 130,400 | 936,927 |
1,408,530 | ||
United States — 0.9% | ||
EPAM Systems, Inc. * | 6,421 | 1,397,017 |
ExlService Holdings, Inc. * | 32,622 | 851,760 |
Genpact Ltd. | 73,155 | 2,453,619 |
Globant SA * | 11,472 | 1,953,567 |
Parade Technologies Ltd. | 53,400 | 1,750,820 |
8,406,783 | ||
Total Common Stocks (Cost $1,019,540,494) | 890,908,307 | |
Short-Term Investments — 0.6% | ||
Investment Companies — 0.6% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 5.49% (b) (c)(Cost $4,916,176) | 4,914,673 | 4,916,639 |
Total Investments — 99.9% (Cost $1,024,456,670) | 895,824,946 | |
Other Assets Less Liabilities — 0.1% | 1,125,029 | |
NET ASSETS — 100.0% | 896,949,975 |
Percentages indicated are based on net assets. |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 29 |
Abbreviations | |
ADR | American Depositary Receipt |
APAC | Asia Pacific |
GDR | Global 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 |
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 October 31, 2023. |
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Banks | 17.3 % |
Semiconductors & Semiconductor Equipment | 10.8 |
Technology Hardware, Storage & Peripherals | 4.9 |
Insurance | 4.5 |
Broadline Retail | 4.4 |
Interactive Media & Services | 4.3 |
Oil, Gas & Consumable Fuels | 3.9 |
IT Services | 3.8 |
Consumer Staples Distribution & Retail | 3.5 |
Beverages | 2.9 |
Hotels, Restaurants & Leisure | 2.5 |
Electronic Equipment, Instruments & Components | 2.5 |
Food Products | 2.2 |
Chemicals | 1.9 |
Household Durables | 1.9 |
Automobiles | 1.8 |
Entertainment | 1.8 |
Metals & Mining | 1.7 |
Automobile Components | 1.4 |
Capital Markets | 1.4 |
Machinery | 1.2 |
Real Estate Management & Development | 1.2 |
Personal Care Products | 1.2 |
Wireless Telecommunication Services | 1.1 |
Electrical Equipment | 1.1 |
Financial Services | 1.0 |
Others (each less than 1.0%) | 13.3 |
Short-Term Investments | 0.5 |
30 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 98.8% | ||
Canada — 0.6% | ||
Toronto-Dominion Bank (The) | 82,176 | 4,590,123 |
China — 0.9% | ||
NXP Semiconductors NV | 46,052 | 7,940,746 |
Denmark — 2.1% | ||
Novo Nordisk A/S, Class B | 185,672 | 17,912,936 |
France — 6.6% | ||
Legrand SA | 109,654 | 9,485,771 |
LVMH Moet Hennessy Louis Vuitton SE | 26,129 | 18,706,550 |
Safran SA | 82,603 | 12,904,203 |
Vinci SA | 132,313 | 14,630,431 |
55,726,955 | ||
Germany — 2.0% | ||
Muenchener Rueckversicherungs-Gesellschaft AG (Registered) | 22,661 | 9,094,038 |
RWE AG | 201,755 | 7,720,242 |
16,814,280 | ||
Hong Kong — 0.6% | ||
AIA Group Ltd. | 585,400 | 5,083,501 |
India — 0.9% | ||
HDFC Bank Ltd., ADR | 136,695 | 7,730,102 |
Japan — 2.8% | ||
Hoya Corp. | 56,200 | 5,410,297 |
Japan Exchange Group, Inc. | 242,100 | 4,787,479 |
Shin-Etsu Chemical Co. Ltd. | 292,500 | 8,746,738 |
Tokio Marine Holdings, Inc. | 219,200 | 4,903,994 |
23,848,508 | ||
Mexico — 0.7% | ||
Wal-Mart de Mexico SAB de CV | 1,613,257 | 5,780,487 |
Netherlands — 3.4% | ||
ASML Holding NV | 22,577 | 13,571,496 |
Shell plc | 472,223 | 15,218,261 |
28,789,757 | ||
Singapore — 1.3% | ||
DBS Group Holdings Ltd. | 438,400 | 10,531,829 |
South Korea — 1.2% | ||
Samsung Electronics Co. Ltd. | 195,906 | 9,751,197 |
Sweden — 0.9% | ||
Volvo AB, Class B | 385,239 | 7,633,586 |
Switzerland — 0.7% | ||
Zurich Insurance Group AG | 11,695 | 5,555,038 |
INVESTMENTS | SHARES | VALUE($) |
Taiwan — 2.9% | ||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 283,802 | 24,494,951 |
United Kingdom — 3.7% | ||
AstraZeneca plc | 71,637 | 8,969,222 |
BP plc | 1,147,667 | 7,007,677 |
RELX plc | 281,511 | 9,832,536 |
SSE plc | 251,464 | 4,997,487 |
30,806,922 | ||
United States — 67.5% | ||
AbbVie, Inc. | 83,451 | 11,781,612 |
Adobe, Inc. * | 22,227 | 11,826,098 |
Advanced Micro Devices, Inc. * | 58,483 | 5,760,576 |
Amazon.com, Inc. * | 334,815 | 44,560,528 |
Analog Devices, Inc. | 58,733 | 9,240,463 |
Apple, Inc. | 127,928 | 21,846,265 |
Bank of America Corp. | 338,546 | 8,917,302 |
Boston Scientific Corp. * | 65,060 | 3,330,421 |
Bristol-Myers Squibb Co. | 78,361 | 4,037,942 |
Charles Schwab Corp. (The) | 117,578 | 6,118,759 |
Charter Communications, Inc., Class A * | 8,042 | 3,239,318 |
Chevron Corp. | 51,171 | 7,457,150 |
CME Group, Inc. | 122,991 | 26,253,659 |
Coca-Cola Co. (The) | 473,233 | 26,732,932 |
ConocoPhillips | 66,524 | 7,903,051 |
Deere & Co. | 35,087 | 12,819,386 |
Dow, Inc. | 147,659 | 7,137,836 |
EOG Resources, Inc. | 57,750 | 7,290,937 |
Hilton Worldwide Holdings, Inc. | 62,731 | 9,505,628 |
Johnson & Johnson | 62,587 | 9,284,156 |
Marriott International, Inc., Class A | 19,007 | 3,583,960 |
Mastercard, Inc., Class A | 60,273 | 22,683,744 |
McDonald's Corp. | 64,408 | 16,885,845 |
Meta Platforms, Inc., Class A * | 78,946 | 23,784,061 |
Microsoft Corp. | 183,485 | 62,038,113 |
NextEra Energy, Inc. | 182,017 | 10,611,591 |
NVIDIA Corp. | 52,631 | 21,462,922 |
Progressive Corp. (The) | 144,179 | 22,793,258 |
Prologis, Inc., REIT | 152,779 | 15,392,484 |
Public Service Enterprise Group, Inc. | 105,992 | 6,534,407 |
Regeneron Pharmaceuticals, Inc. * | 17,545 | 13,683,170 |
Roche Holding AG | 35,092 | 9,043,547 |
Ross Stores, Inc. | 104,883 | 12,163,282 |
S&P Global, Inc. | 27,778 | 9,703,133 |
Teradyne, Inc. | 25,584 | 2,130,380 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 31 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
United States — continued | ||
Uber Technologies, Inc. * | 390,357 | 16,894,651 |
UnitedHealth Group, Inc. | 65,788 | 35,233,421 |
US Bancorp | 68,514 | 2,184,226 |
Wells Fargo & Co. | 126,175 | 5,017,980 |
Yum! Brands, Inc. | 95,030 | 11,485,326 |
568,353,520 | ||
Total Common Stocks (Cost $834,549,991) | 831,344,438 | |
Short-Term Investments — 1.3% | ||
Investment Companies — 1.3% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 5.49% (a) (b)(Cost $10,930,338) | 10,926,144 | 10,930,514 |
Total Investments — 100.1% (Cost $845,480,329) | 842,274,952 | |
Liabilities in Excess of Other Assets — (0.1)% | (598,919 ) | |
NET ASSETS — 100.0% | 841,676,033 |
Percentages indicated are based on net assets. |
Abbreviations | |
ADR | American Depositary Receipt |
REIT | Real Estate Investment Trust |
* | Non-income producing security. |
(a) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(b) | The rate shown is the current yield as of October 31, 2023. |
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Semiconductors & Semiconductor Equipment | 10.1 % |
Software | 8.8 |
Pharmaceuticals | 5.9 |
Insurance | 5.6 |
Capital Markets | 5.6 |
Oil, Gas & Consumable Fuels | 5.3 |
Broadline Retail | 5.3 |
Hotels, Restaurants & Leisure | 4.9 |
Banks | 4.6 |
Health Care Providers & Services | 4.2 |
Technology Hardware, Storage & Peripherals | 3.8 |
Beverages | 3.2 |
Biotechnology | 3.0 |
Interactive Media & Services | 2.8 |
Financial Services | 2.7 |
Machinery | 2.4 |
Textiles, Apparel & Luxury Goods | 2.2 |
Ground Transportation | 2.0 |
Chemicals | 1.9 |
Electric Utilities | 1.9 |
Industrial REITs | 1.8 |
Construction & Engineering | 1.7 |
Aerospace & Defense | 1.5 |
Specialty Retail | 1.4 |
Professional Services | 1.2 |
Electrical Equipment | 1.1 |
Health Care Equipment & Supplies | 1.0 |
Others (each less than 1.0%) | 2.8 |
Short-Term Investments | 1.3 |
32 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 96.4% | ||
Aerospace & Defense — 1.4% | ||
Howmet Aerospace, Inc. | 4,105 | 181,031 |
RTX Corp. | 5,349 | 435,355 |
Textron, Inc. | 3,327 | 252,852 |
869,238 | ||
Air Freight & Logistics — 1.0% | ||
FedEx Corp. | 745 | 178,875 |
United Parcel Service, Inc., Class B | 3,281 | 463,441 |
642,316 | ||
Automobile Components — 0.2% | ||
Aptiv plc * | 1,334 | 116,325 |
Automobiles — 1.4% | ||
Tesla, Inc. * (a) | 4,223 | 848,147 |
Banks — 3.3% | ||
Bank of America Corp. | 25,547 | 672,908 |
Citigroup, Inc. | 4,402 | 173,835 |
Fifth Third Bancorp | 5,727 | 135,787 |
Truist Financial Corp. | 9,416 | 267,038 |
US Bancorp | 8,762 | 279,332 |
Wells Fargo & Co. (a) | 12,487 | 496,608 |
2,025,508 | ||
Beverages — 2.2% | ||
Coca-Cola Co. (The) (a) | 13,428 | 758,548 |
Constellation Brands, Inc., Class A | 248 | 58,069 |
Monster Beverage Corp. * | 1,963 | 100,309 |
PepsiCo, Inc. (a) | 2,520 | 411,466 |
1,328,392 | ||
Biotechnology — 2.9% | ||
AbbVie, Inc. (a) | 5,331 | 752,631 |
Biogen, Inc. * | 806 | 191,457 |
BioMarin Pharmaceutical, Inc. * | 643 | 52,372 |
Neurocrine Biosciences, Inc. * | 350 | 38,829 |
Regeneron Pharmaceuticals, Inc. * | 467 | 364,209 |
Sarepta Therapeutics, Inc. * | 260 | 17,501 |
Vertex Pharmaceuticals, Inc. * | 1,077 | 389,992 |
1,806,991 | ||
Broadline Retail — 3.8% | ||
Amazon.com, Inc. * (a) | 17,780 | 2,366,340 |
Building Products — 0.9% | ||
Masco Corp. | 2,602 | 135,538 |
Trane Technologies plc | 2,249 | 428,007 |
563,545 |
INVESTMENTS | SHARES | VALUE($) |
Capital Markets — 2.5% | ||
Blackstone, Inc. | 493 | 45,528 |
Charles Schwab Corp. (The) | 4,233 | 220,285 |
CME Group, Inc. | 2,060 | 439,728 |
Intercontinental Exchange, Inc. | 2,002 | 215,095 |
Morgan Stanley | 3,479 | 246,383 |
Raymond James Financial, Inc. | 1,315 | 125,504 |
S&P Global, Inc. | 636 | 222,161 |
State Street Corp. | 742 | 47,955 |
1,562,639 | ||
Chemicals — 2.1% | ||
Air Products and Chemicals, Inc. | 658 | 185,845 |
Dow, Inc. | 5,377 | 259,924 |
Eastman Chemical Co. | 1,953 | 145,948 |
Linde plc | 1,141 | 436,045 |
LyondellBasell Industries NV, Class A | 1,593 | 143,752 |
PPG Industries, Inc. | 926 | 113,685 |
1,285,199 | ||
Commercial Services & Supplies — 0.2% | ||
Cintas Corp. | 195 | 98,888 |
Communications Equipment — 0.2% | ||
Motorola Solutions, Inc. | 392 | 109,156 |
Consumer Finance — 0.1% | ||
American Express Co. | 287 | 41,911 |
Consumer Staples Distribution & Retail — 1.7% | ||
Costco Wholesale Corp. | 882 | 487,252 |
Target Corp. | 822 | 91,069 |
Walmart, Inc. | 2,894 | 472,909 |
1,051,230 | ||
Distributors — 0.1% | ||
LKQ Corp. | 1,031 | 45,282 |
Electric Utilities — 1.8% | ||
Constellation Energy Corp. | 818 | 92,369 |
NextEra Energy, Inc. (a) | 7,245 | 422,383 |
PG&E Corp. * | 21,509 | 350,597 |
Southern Co. (The) | 3,430 | 230,839 |
1,096,188 | ||
Electrical Equipment — 0.6% | ||
Eaton Corp. plc | 1,869 | 388,584 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 33 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Electronic Equipment, Instruments & Components — 0.2% | ||
Corning, Inc. | 2,115 | 56,598 |
Keysight Technologies, Inc. * | 546 | 66,639 |
123,237 | ||
Energy Equipment & Services — 0.1% | ||
Baker Hughes Co. | 2,445 | 84,157 |
Entertainment — 0.6% | ||
Netflix, Inc. * | 737 | 303,416 |
Warner Bros Discovery, Inc. * | 4,079 | 40,545 |
343,961 | ||
Financial Services — 4.5% | ||
Berkshire Hathaway, Inc., Class B * (a) | 2,592 | 884,727 |
FleetCor Technologies, Inc. * | 930 | 209,408 |
Mastercard, Inc., Class A (a) | 2,495 | 938,993 |
Visa, Inc., Class A (a) | 3,084 | 725,049 |
2,758,177 | ||
Food Products — 0.7% | ||
Mondelez International, Inc., Class A | 6,870 | 454,863 |
Ground Transportation — 0.9% | ||
CSX Corp. | 4,012 | 119,758 |
Norfolk Southern Corp. | 741 | 141,375 |
Uber Technologies, Inc. * | 2,704 | 117,029 |
Union Pacific Corp. | 793 | 164,635 |
542,797 | ||
Health Care Equipment & Supplies — 2.4% | ||
Baxter International, Inc. | 2,642 | 85,680 |
Becton Dickinson & Co. | 484 | 122,346 |
Boston Scientific Corp. * | 8,563 | 438,340 |
Dexcom, Inc. * | 642 | 57,029 |
Intuitive Surgical, Inc. * | 764 | 200,336 |
Medtronic plc | 4,352 | 307,077 |
Stryker Corp. | 965 | 260,762 |
1,471,570 | ||
Health Care Providers & Services — 3.2% | ||
Centene Corp. * | 2,606 | 179,762 |
CVS Health Corp. | 1,267 | 87,436 |
Elevance Health, Inc. | 635 | 285,807 |
Humana, Inc. | 343 | 179,626 |
McKesson Corp. | 262 | 119,304 |
UnitedHealth Group, Inc. (a) | 2,047 | 1,096,291 |
1,948,226 |
INVESTMENTS | SHARES | VALUE($) |
Health Care REITs — 0.3% | ||
Ventas, Inc. | 4,990 | 211,875 |
Hotels, Restaurants & Leisure — 2.4% | ||
Booking Holdings, Inc. * | 144 | 401,697 |
Chipotle Mexican Grill, Inc. * | 178 | 345,712 |
Domino's Pizza, Inc. | 142 | 48,136 |
Expedia Group, Inc. * | 1,493 | 142,268 |
Marriott International, Inc., Class A | 1,087 | 204,965 |
Royal Caribbean Cruises Ltd. * | 1,404 | 118,961 |
Yum! Brands, Inc. | 1,870 | 226,008 |
1,487,747 | ||
Household Durables — 0.3% | ||
Lennar Corp., Class A | 643 | 68,595 |
Toll Brothers, Inc. | 1,024 | 72,407 |
Whirlpool Corp. | 247 | 25,827 |
166,829 | ||
Household Products — 0.9% | ||
Church & Dwight Co., Inc. | 1,724 | 156,781 |
Procter & Gamble Co. (The) | 2,598 | 389,778 |
546,559 | ||
Industrial Conglomerates — 1.0% | ||
Honeywell International, Inc. (a) | 3,475 | 636,828 |
Industrial REITs — 0.6% | ||
Prologis, Inc. | 3,883 | 391,212 |
Insurance — 2.2% | ||
Aflac, Inc. | 2,053 | 160,360 |
Chubb Ltd. | 977 | 209,684 |
Globe Life, Inc. | 1,552 | 180,590 |
Progressive Corp. (The) | 2,742 | 433,483 |
Travelers Cos., Inc. (The) | 2,059 | 344,759 |
1,328,876 | ||
Interactive Media & Services — 5.7% | ||
Alphabet, Inc., Class A * (a) | 10,003 | 1,241,172 |
Alphabet, Inc., Class C * (a) | 7,357 | 921,832 |
Meta Platforms, Inc., Class A * (a) | 4,462 | 1,344,267 |
3,507,271 | ||
IT Services — 1.1% | ||
Accenture plc, Class A | 1,420 | 421,868 |
Cognizant Technology Solutions Corp., Class A | 4,087 | 263,489 |
685,357 |
34 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Life Sciences Tools & Services — 1.1% | ||
Danaher Corp. | 1,791 | 343,908 |
Thermo Fisher Scientific, Inc. | 755 | 335,801 |
679,709 | ||
Machinery — 1.8% | ||
Deere & Co. | 1,441 | 526,483 |
Dover Corp. | 1,023 | 132,939 |
Otis Worldwide Corp. | 3,971 | 306,601 |
Parker-Hannifin Corp. | 356 | 131,332 |
1,097,355 | ||
Media — 1.3% | ||
Charter Communications, Inc., Class A * | 675 | 271,890 |
Comcast Corp., Class A (a) | 12,664 | 522,897 |
794,787 | ||
Metals & Mining — 0.1% | ||
Nucor Corp. | 599 | 88,526 |
Multi-Utilities — 0.7% | ||
CenterPoint Energy, Inc. | 2,041 | 54,862 |
Public Service Enterprise Group, Inc. | 6,035 | 372,058 |
426,920 | ||
Oil, Gas & Consumable Fuels — 4.3% | ||
Chevron Corp. | 1,872 | 272,807 |
ConocoPhillips | 5,297 | 629,284 |
Diamondback Energy, Inc. | 1,796 | 287,935 |
EOG Resources, Inc. (a) | 3,525 | 445,031 |
Exxon Mobil Corp. (a) | 9,190 | 972,761 |
Marathon Oil Corp. | 1,103 | 30,123 |
2,637,941 | ||
Passenger Airlines — 0.1% | ||
Delta Air Lines, Inc. | 2,451 | 76,594 |
Personal Care Products — 0.3% | ||
Kenvue, Inc. | 8,340 | 155,124 |
Pharmaceuticals — 3.2% | ||
Bristol-Myers Squibb Co. | 8,821 | 454,546 |
Eli Lilly & Co. (a) | 1,258 | 696,844 |
Johnson & Johnson | 3,450 | 511,773 |
Merck & Co., Inc. | 2,941 | 302,041 |
1,965,204 | ||
Professional Services — 0.2% | ||
Leidos Holdings, Inc. | 1,432 | 141,940 |
INVESTMENTS | SHARES | VALUE($) |
Residential REITs — 0.5% | ||
Equity LifeStyle Properties, Inc. | 1,675 | 110,215 |
Sun Communities, Inc. | 856 | 95,221 |
UDR, Inc. | 3,328 | 105,864 |
311,300 | ||
Semiconductors & Semiconductor Equipment — 7.2% | ||
Advanced Micro Devices, Inc. * | 4,472 | 440,492 |
Analog Devices, Inc. (a) | 2,656 | 417,868 |
Lam Research Corp. | 830 | 488,223 |
NVIDIA Corp. (a) | 4,567 | 1,862,423 |
NXP Semiconductors NV (China) | 2,723 | 469,527 |
Qorvo, Inc. * | 1,170 | 102,281 |
Teradyne, Inc. | 1,470 | 122,407 |
Texas Instruments, Inc. | 3,845 | 546,028 |
4,449,249 | ||
Software — 10.6% | ||
Adobe, Inc. * | 1,341 | 713,493 |
Cadence Design Systems, Inc. * | 500 | 119,925 |
Intuit, Inc. | 820 | 405,859 |
Microsoft Corp. (a) | 13,533 | 4,575,643 |
Oracle Corp. | 2,656 | 274,630 |
Salesforce, Inc. * | 1,040 | 208,863 |
ServiceNow, Inc. * | 411 | 239,140 |
6,537,553 | ||
Specialized REITs — 0.6% | ||
Digital Realty Trust, Inc. | 1,516 | 188,530 |
SBA Communications Corp. | 934 | 194,860 |
383,390 | ||
Specialty Retail — 2.5% | ||
AutoNation, Inc. * | 729 | 94,828 |
AutoZone, Inc. * | 138 | 341,844 |
Best Buy Co., Inc. | 2,447 | 163,509 |
Burlington Stores, Inc. * | 734 | 88,836 |
Lowe's Cos., Inc. | 2,963 | 564,659 |
O'Reilly Automotive, Inc. * | 96 | 89,322 |
TJX Cos., Inc. (The) | 2,260 | 199,038 |
1,542,036 | ||
Technology Hardware, Storage & Peripherals — 7.3% | ||
Apple, Inc. (a) | 25,046 | 4,277,105 |
Seagate Technology Holdings plc | 3,147 | 214,783 |
4,491,888 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 35 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Textiles, Apparel & Luxury Goods — 0.4% | ||
NIKE, Inc., Class B | 2,656 | 272,957 |
Tobacco — 0.4% | ||
Altria Group, Inc. | 1,773 | 71,222 |
Philip Morris International, Inc. | 1,858 | 165,659 |
236,881 | ||
Trading Companies & Distributors — 0.1% | ||
United Rentals, Inc. | 110 | 44,690 |
Wireless Telecommunication Services — 0.2% | ||
T-Mobile US, Inc. * | 697 | 100,270 |
Total Common Stocks (Cost $60,358,455) | 59,369,735 | |
INVESTMENTS | NO. OF CONTRACTS | |
Options Purchased — 1.0% | ||
Put Options Purchased — 1.0% | ||
SPDR S&P 500 ETF Trust | ||
12/1/2023 at USD 410.00 , American | ||
Notional Amount: USD 19,780,860 | ||
Counterparty: Exchange-Traded * | 473 | 212,377 |
12/29/2023 at USD 405.00 , American | ||
Notional Amount: USD 19,780,860 | ||
Counterparty: Exchange-Traded * | 473 | 289,003 |
11/3/2023 at USD 415.00 , American | ||
Notional Amount: USD 19,780,860 | ||
Counterparty: Exchange-Traded * | 473 | 88,924 |
Total Put Options Purchased (Cost $625,568) | 590,304 |
INVESTMENTS | SHARES | VALUE($) |
Short-Term Investments — 0.7% | ||
Investment Companies — 0.7% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (b) (c) (Cost $451,185) | 451,185 | 451,185 |
Total Investments — 98.1% (Cost $61,435,208) | 60,411,224 | |
Other Assets Less Liabilities — 1.9% | 1,182,591 | |
NET ASSETS — 100.0% | 61,593,815 |
Percentages indicated are based on net assets. |
Abbreviations | |
ETF | Exchange Traded Fund |
REIT | Real Estate Investment Trust |
SPDR | Standard & Poor's Depositary Receipt |
USD | United States Dollar |
* | Non-income producing security. |
(a) | All or a portion of the security is segregated for options written. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of October 31, 2023. |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
S&P 500 E-Mini Index | 4 | 12/15/2023 | USD | 842,350 | (21 ) |
Abbreviations | |
USD | United States Dollar |
36 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Written Call Options Contracts as of October 31, 2023 | ||||||
DESCRIPTION | COUNTERPARTY | NUMBER OF CONTRACTS | NOTIONAL AMOUNT | EXERCISE PRICE | EXPIRATION DATE | VALUE ($) |
SPDR S&P 500 ETF Trust | Exchange-Traded | 473 | USD 19,780,860 | USD 441.00 | 11/03/2023 | (946 ) |
SPDR S&P 500 ETF Trust | Exchange-Traded | 473 | USD 19,780,860 | USD 447.50 | 12/01/2023 | (14,663 ) |
SPDR S&P 500 ETF Trust | Exchange-Traded | 473 | USD 19,780,860 | USD 451.00 | 12/29/2023 | (37,840 ) |
(53,449 ) | ||||||
Written Put Options Contracts as of October 31, 2023 | ||||||
DESCRIPTION | COUNTERPARTY | NUMBER OF CONTRACTS | NOTIONAL AMOUNT | EXERCISE PRICE | EXPIRATION DATE | VALUE ($) |
SPDR S&P 500 ETF Trust | Exchange-Traded | 473 | USD 19,780,860 | USD 350.00 | 11/03/2023 | (946 ) |
SPDR S&P 500 ETF Trust | Exchange-Traded | 473 | USD 19,780,860 | USD 345.00 | 12/01/2023 | (10,879 ) |
SPDR S&P 500 ETF Trust | Exchange-Traded | 473 | USD 19,780,860 | USD 342.00 | 12/29/2023 | (28,853 ) |
(40,678 ) | ||||||
Total Written Options Contracts (Premiums Received $582,518) | (94,127 ) |
Abbreviations | |
ETF | Exchange Traded Fund |
SPDR | Standard & Poor's Depositary Receipt |
USD | United States Dollar |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 37 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 98.6% | ||
Australia — 2.1% | ||
QBE Insurance Group Ltd. | 75,535 | 749,013 |
Woodside Energy Group Ltd. | 46,686 | 1,016,812 |
1,765,825 | ||
Belgium — 0.7% | ||
KBC Group NV | 10,022 | 551,559 |
Brazil — 1.6% | ||
MercadoLibre, Inc. * | 365 | 452,870 |
NU Holdings Ltd., Class A * | 102,679 | 841,968 |
1,294,838 | ||
Canada — 5.5% | ||
Alimentation Couche-Tard, Inc. | 28,584 | 1,556,017 |
Canadian National Railway Co. | 16,709 | 1,767,955 |
Canadian Pacific Kansas City Ltd. | 17,001 | 1,207,080 |
4,531,052 | ||
China — 8.0% | ||
ANTA Sports Products Ltd. | 69,600 | 787,141 |
JD.com, Inc., ADR | 31,393 | 798,010 |
NXP Semiconductors NV | 5,798 | 999,749 |
Tencent Holdings Ltd. | 83,300 | 3,082,829 |
Yum China Holdings, Inc. | 17,100 | 896,075 |
6,563,804 | ||
Denmark — 3.3% | ||
Genmab A/S * | 1,037 | 293,142 |
Novo Nordisk A/S, Class B | 24,705 | 2,383,446 |
2,676,588 | ||
France — 11.1% | ||
Air Liquide SA | 12,223 | 2,094,439 |
Airbus SE | 11,354 | 1,522,301 |
L'Oreal SA | 807 | 339,207 |
LVMH Moet Hennessy Louis Vuitton SE | 2,524 | 1,807,009 |
Safran SA | 13,008 | 2,032,104 |
Vinci SA | 11,569 | 1,279,235 |
9,074,295 | ||
Germany — 3.7% | ||
Beiersdorf AG | 5,091 | 669,569 |
Deutsche Boerse AG | 7,713 | 1,269,532 |
Deutsche Post AG | 21,657 | 845,565 |
Zalando SE * (a) | 11,713 | 273,973 |
3,058,639 |
INVESTMENTS | SHARES | VALUE($) |
Hong Kong — 1.0% | ||
AIA Group Ltd. | 41,600 | 361,247 |
Hong Kong Exchanges & Clearing Ltd. | 12,500 | 437,283 |
798,530 | ||
India — 1.9% | ||
HDFC Bank Ltd., ADR | 19,423 | 1,098,370 |
WNS Holdings Ltd., ADR * | 8,665 | 470,683 |
1,569,053 | ||
Indonesia — 2.5% | ||
Bank Central Asia Tbk. PT | 2,245,200 | 1,236,927 |
Telkom Indonesia Persero Tbk. PT, ADR | 36,031 | 792,682 |
2,029,609 | ||
Italy — 0.4% | ||
Ferrari NV | 1,135 | 343,569 |
Japan — 14.7% | ||
Ajinomoto Co., Inc. | 16,100 | 588,015 |
Daikin Industries Ltd. | 9,900 | 1,427,372 |
Hoya Corp. | 12,700 | 1,222,611 |
Keyence Corp. | 4,700 | 1,819,458 |
Otsuka Corp. | 18,900 | 757,788 |
Recruit Holdings Co. Ltd. | 39,300 | 1,126,837 |
Seven & i Holdings Co. Ltd. | 19,200 | 703,463 |
Shimano, Inc. | 5,500 | 791,484 |
Shin-Etsu Chemical Co. Ltd. | 40,400 | 1,208,097 |
Sony Group Corp. | 20,400 | 1,696,033 |
Terumo Corp. | 26,700 | 730,464 |
12,071,622 | ||
Mexico — 1.2% | ||
Wal-Mart de Mexico SAB de CV | 283,506 | 1,015,835 |
Netherlands — 5.4% | ||
Adyen NV * (a) | 166 | 111,965 |
Argenx SE * | 1,628 | 765,781 |
Argenx SE * | 424 | 205,295 |
ASML Holding NV | 4,477 | 2,691,216 |
Wolters Kluwer NV | 5,444 | 698,498 |
4,472,755 | ||
Singapore — 1.6% | ||
DBS Group Holdings Ltd. | 53,500 | 1,285,248 |
South Korea — 0.6% | ||
LG Chem Ltd. | 1,555 | 509,639 |
38 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Spain — 2.5% | ||
Iberdrola SA | 72,999 | 811,896 |
Industria de Diseno Textil SA | 36,149 | 1,247,790 |
2,059,686 | ||
Sweden — 3.3% | ||
Atlas Copco AB, Class A | 115,014 | 1,489,319 |
Epiroc AB, Class A | 9,335 | 153,792 |
Evolution AB (a) | 5,415 | 482,506 |
Volvo AB, Class B | 28,682 | 568,339 |
2,693,956 | ||
Switzerland — 1.4% | ||
Cie Financiere Richemont SA (Registered) | 9,876 | 1,165,126 |
Taiwan — 5.1% | ||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 48,428 | 4,179,821 |
United Kingdom — 11.4% | ||
3i Group plc | 64,033 | 1,509,744 |
AstraZeneca plc | 14,185 | 1,776,015 |
Diageo plc | 34,408 | 1,301,174 |
InterContinental Hotels Group plc | 23,262 | 1,648,405 |
London Stock Exchange Group plc | 14,614 | 1,474,481 |
RELX plc | 47,161 | 1,645,457 |
9,355,276 | ||
United States — 9.6% | ||
Cadence Design Systems, Inc. * | 3,993 | 957,721 |
ExlService Holdings, Inc. * | 18,835 | 491,782 |
Las Vegas Sands Corp. | 18,527 | 879,292 |
Linde plc | 4,478 | 1,710,863 |
Nestle SA (Registered) | 28,066 | 3,026,603 |
Sanofi SA | 9,022 | 819,254 |
7,885,515 | ||
Total Common Stocks (Cost $81,505,461) | 80,951,840 | |
Short-Term Investments — 1.3% | ||
Investment Companies — 1.3% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (b) (c)(Cost $1,033,189) | 1,033,189 | 1,033,189 |
INVESTMENTS | SHARES | VALUE($) |
Total Investments — 99.9% (Cost $82,538,650) | 81,985,029 | |
Other Assets Less Liabilities — 0.1% | 119,998 | |
NET ASSETS — 100.0% | 82,105,027 |
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 October 31, 2023. |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 39 |
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Semiconductors & Semiconductor Equipment | 9.6 % |
Chemicals | 6.7 |
Banks | 6.1 |
Pharmaceuticals | 6.1 |
Capital Markets | 5.7 |
Professional Services | 5.4 |
Hotels, Restaurants & Leisure | 4.8 |
Textiles, Apparel & Luxury Goods | 4.6 |
Food Products | 4.4 |
Aerospace & Defense | 4.3 |
Consumer Staples Distribution & Retail | 4.0 |
Interactive Media & Services | 3.8 |
Ground Transportation | 3.6 |
Machinery | 2.7 |
Health Care Equipment & Supplies | 2.4 |
Electronic Equipment, Instruments & Components | 2.2 |
Household Durables | 2.1 |
Specialty Retail | 1.9 |
Building Products | 1.7 |
Beverages | 1.6 |
Construction & Engineering | 1.6 |
Biotechnology | 1.5 |
Broadline Retail | 1.5 |
Insurance | 1.4 |
Oil, Gas & Consumable Fuels | 1.2 |
Personal Care Products | 1.2 |
Software | 1.2 |
Air Freight & Logistics | 1.0 |
Electric Utilities | 1.0 |
Diversified Telecommunication Services | 1.0 |
Leisure Products | 1.0 |
Others (each less than 1.0%) | 1.4 |
Short-Term Investments | 1.3 |
40 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 95.6% | ||
Australia — 5.1% | ||
BHP Group Ltd. | 5,961 | 168,741 |
BlueScope Steel Ltd. | 2,945 | 35,303 |
Coronado Global Resources, Inc., CHDI (a) | 31,236 | 34,361 |
Glencore plc | 14,484 | 76,719 |
JB Hi-Fi Ltd. | 1,160 | 33,344 |
Perseus Mining Ltd. | 30,296 | 32,370 |
Qantas Airways Ltd. * | 9,359 | 29,321 |
Stanmore Resources Ltd. * | 17,147 | 41,550 |
Ventia Services Group Pty. Ltd. | 19,684 | 34,403 |
Whitehaven Coal Ltd. | 8,521 | 40,136 |
Woodside Energy Group Ltd. | 2,904 | 63,249 |
589,497 | ||
Austria — 1.3% | ||
Erste Group Bank AG | 1,296 | 46,409 |
OMV AG | 850 | 37,279 |
Telekom Austria AG | 4,467 | 31,195 |
Vienna Insurance Group AG Wiener Versicherung Gruppe | 1,237 | 33,180 |
148,063 | ||
Belgium — 0.3% | ||
Ageas SA | 962 | 36,953 |
Brazil — 2.2% | ||
Banco do Brasil SA | 4,392 | 42,137 |
Cia de Saneamento de Minas Gerais Copasa MG * | 9,240 | 29,378 |
Gerdau SA (Preference) | 7,721 | 33,507 |
Petroleo Brasileiro SA (Preference) | 13,667 | 94,145 |
Vale SA | 4,141 | 56,697 |
255,864 | ||
Canada — 5.5% | ||
Air Canada * | 2,129 | 25,685 |
ARC Resources Ltd. | 2,571 | 41,362 |
Canadian Natural Resources Ltd. | 1,262 | 80,138 |
CI Financial Corp. | 2,726 | 24,709 |
Dundee Precious Metals, Inc. | 5,519 | 36,177 |
EQB, Inc. | 584 | 28,982 |
Fairfax Financial Holdings Ltd. | 51 | 42,441 |
First Capital REIT, REIT | 3,331 | 31,322 |
Manulife Financial Corp. | 3,585 | 62,406 |
NuVista Energy Ltd. * | 3,561 | 34,538 |
Quebecor, Inc., Class B | 1,550 | 31,978 |
Russel Metals, Inc. | 1,185 | 29,524 |
SmartCentres REIT, REIT | 1,942 | 30,095 |
Suncor Energy, Inc. | 2,255 | 73,028 |
INVESTMENTS | SHARES | VALUE($) |
Canada — continued | ||
Teck Resources Ltd., Class B | 800 | 28,268 |
Whitecap Resources, Inc. | 4,016 | 31,016 |
631,669 | ||
Chile — 0.2% | ||
Sociedad Quimica y Minera de Chile SA (Preference), Class B | 564 | 27,286 |
China — 9.3% | ||
3SBio, Inc. (a) | 40,500 | 36,031 |
Agricultural Bank of China Ltd., Class H | 131,000 | 48,386 |
Alibaba Group Holding Ltd. * | 19,500 | 200,754 |
Bank of Communications Co. Ltd., Class H | 70,000 | 41,405 |
BOC Hong Kong Holdings Ltd. | 15,500 | 40,990 |
China Coal Energy Co. Ltd., Class H | 50,000 | 39,273 |
China Construction Bank Corp., Class H | 155,000 | 87,662 |
China Feihe Ltd. (a) | 59,000 | 36,661 |
China Merchants Bank Co. Ltd., Class H | 11,000 | 41,726 |
China Pacific Insurance Group Co. Ltd., Class H | 17,000 | 41,877 |
China Resources Pharmaceutical Group Ltd. (a) | 52,500 | 32,613 |
CSPC Pharmaceutical Group Ltd. | 52,000 | 45,420 |
Industrial & Commercial Bank of China Ltd., Class H | 140,000 | 67,094 |
JD.com, Inc., Class A | 2,000 | 25,426 |
Jiangxi Copper Co. Ltd., Class H | 21,000 | 29,693 |
Kunlun Energy Co. Ltd. | 48,000 | 39,989 |
Lenovo Group Ltd. | 30,000 | 34,912 |
Livzon Pharmaceutical Group, Inc., Class H | 11,000 | 32,532 |
People's Insurance Co. Group of China Ltd. (The), Class H | 105,000 | 34,646 |
PetroChina Co. Ltd., Class H | 68,000 | 44,385 |
PICC Property & Casualty Co. Ltd., Class H | 26,000 | 29,691 |
Sinotruk Hong Kong Ltd. | 18,000 | 33,903 |
1,065,069 | ||
Denmark — 1.3% | ||
D/S Norden A/S | 677 | 38,464 |
Danske Bank A/S | 1,909 | 44,783 |
Jyske Bank A/S (Registered) * | 476 | 33,546 |
Sydbank A/S | 705 | 30,625 |
147,418 | ||
Finland — 1.2% | ||
Nordea Bank Abp | 6,227 | 65,584 |
Outokumpu OYJ | 7,405 | 30,385 |
UPM-Kymmene OYJ | 1,357 | 45,698 |
141,667 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 41 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
France — 5.7% | ||
AXA SA | 2,882 | 85,395 |
BNP Paribas SA | 1,532 | 88,096 |
Cie de Saint-Gobain SA | 1,051 | 57,210 |
Eiffage SA | 384 | 34,848 |
Engie SA | 3,897 | 61,981 |
Renault SA | 1,000 | 35,084 |
SCOR SE | 1,096 | 32,721 |
Societe Generale SA | 1,684 | 37,842 |
TotalEnergies SE | 2,670 | 178,510 |
Trigano SA | 110 | 14,445 |
Vicat SACA | 1,029 | 31,594 |
657,726 | ||
Germany — 5.3% | ||
Allianz SE (Registered) | 526 | 123,211 |
Bayerische Motoren Werke AG | 661 | 61,476 |
Commerzbank AG | 4,289 | 46,259 |
Deutsche Bank AG (Registered) | 4,603 | 50,654 |
Deutsche Telekom AG (Registered) | 4,634 | 100,575 |
Fresenius SE & Co. KGaA | 1,541 | 39,640 |
Mercedes-Benz Group AG | 1,237 | 72,778 |
RWE AG | 870 | 33,291 |
Schaeffler AG (Preference) | 5,810 | 30,154 |
Volkswagen AG (Preference) | 516 | 54,722 |
612,760 | ||
Greece — 0.3% | ||
Hellenic Telecommunications Organization SA | 2,405 | 33,709 |
Hong Kong — 0.9% | ||
Bank of East Asia Ltd. (The) | 25,200 | 29,928 |
Pacific Basin Shipping Ltd. | 122,000 | 35,304 |
United Laboratories International Holdings Ltd. (The) | 38,000 | 38,790 |
104,022 | ||
Hungary — 0.3% | ||
OTP Bank Nyrt. | 969 | 36,066 |
India — 0.3% | ||
State Bank of India, GDR (a) | 590 | 39,943 |
Indonesia — 0.3% | ||
United Tractors Tbk. PT | 20,700 | 32,758 |
Ireland — 0.6% | ||
Bank of Ireland Group plc | 4,015 | 35,981 |
Greencore Group plc * | 27,845 | 30,505 |
66,486 |
INVESTMENTS | SHARES | VALUE($) |
Italy — 4.8% | ||
Assicurazioni Generali SpA | 2,630 | 52,241 |
Banco BPM SpA | 7,459 | 38,163 |
BPER Banca | 11,712 | 38,112 |
Danieli & C Officine Meccaniche SpA | 1,525 | 40,340 |
Eni SpA | 4,345 | 71,031 |
Intesa Sanpaolo SpA | 27,247 | 71,000 |
MFE-MediaForEurope NV, Class B | 10,571 | 28,019 |
Saipem SpA * | 19,227 | 29,299 |
Saras SpA | 24,344 | 35,386 |
UniCredit SpA | 3,241 | 81,251 |
Unipol Gruppo SpA | 6,217 | 33,681 |
Webuild SpA | 17,356 | 31,257 |
549,780 | ||
Japan — 17.7% | ||
ANA Holdings, Inc. * | 1,600 | 31,411 |
Cosmo Energy Holdings Co. Ltd. | 900 | 32,923 |
Credit Saison Co. Ltd. | 1,200 | 17,988 |
Daiwa House Industry Co. Ltd. | 1,900 | 52,261 |
Fujikura Ltd. | 4,000 | 28,728 |
Fukuyama Transporting Co. Ltd. | 1,400 | 38,259 |
Gunma Bank Ltd. (The) | 6,900 | 33,345 |
Hitachi Ltd. | 1,000 | 63,387 |
Hitachi Zosen Corp. | 5,700 | 29,735 |
Honda Motor Co. Ltd. | 7,500 | 76,866 |
Inpex Corp. | 3,200 | 46,435 |
Isuzu Motors Ltd. | 3,200 | 35,682 |
ITOCHU Corp. | 1,200 | 43,225 |
Japan Petroleum Exploration Co. Ltd. | 1,000 | 34,242 |
Japan Tobacco, Inc. | 2,700 | 62,853 |
JFE Holdings, Inc. | 2,600 | 36,225 |
Marubeni Corp. | 3,500 | 51,176 |
Mazda Motor Corp. | 3,500 | 33,831 |
Mitsubishi Chemical Group Corp. | 6,900 | 39,044 |
Mitsubishi Corp. | 1,700 | 79,246 |
Mitsubishi Motors Corp. | 8,600 | 28,093 |
Mitsubishi UFJ Financial Group, Inc. | 14,500 | 121,643 |
Mitsui & Co. Ltd. | 1,500 | 54,516 |
Mitsui Fudosan Co. Ltd. | 2,500 | 54,187 |
Mizuho Financial Group, Inc. | 4,200 | 71,309 |
MS&AD Insurance Group Holdings, Inc. | 1,000 | 36,641 |
Nippon Steel Corp. | 2,200 | 47,451 |
Niterra Co. Ltd. | 1,500 | 33,574 |
ORIX Corp. | 2,900 | 52,740 |
Sankyo Co. Ltd. | 700 | 29,091 |
42 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Japan — continued | ||
SBI Holdings, Inc. | 1,700 | 36,575 |
SKY Perfect JSAT Holdings, Inc. | 7,400 | 34,250 |
Sojitz Corp. | 1,500 | 31,148 |
Subaru Corp. | 2,400 | 41,545 |
Sumitomo Corp. | 2,600 | 51,110 |
Sumitomo Mitsui Financial Group, Inc. | 1,900 | 91,595 |
Sumitomo Realty & Development Co. Ltd. | 1,500 | 37,641 |
Toho Gas Co. Ltd. | 1,900 | 32,721 |
Tokyo Gas Co. Ltd. | 1,900 | 42,669 |
Tokyo Steel Manufacturing Co. Ltd. | 2,900 | 33,518 |
Tokyo Tatemono Co. Ltd. | 2,600 | 34,524 |
Toyota Boshoku Corp. | 1,700 | 29,565 |
Toyota Motor Corp. | 4,100 | 71,724 |
Tsubakimoto Chain Co. | 1,200 | 30,334 |
Yamaha Motor Co. Ltd. | 1,500 | 36,655 |
2,031,681 | ||
Luxembourg — 0.1% | ||
ArcelorMittal SA | 295 | 6,528 |
Mexico — 0.3% | ||
Grupo Mexico SAB de CV | 8,546 | 35,489 |
Netherlands — 3.7% | ||
ABN AMRO Bank NV, CVA (a) | 2,759 | 37,160 |
Aegon Ltd. | 8,291 | 40,321 |
ING Groep NV | 4,697 | 60,218 |
NN Group NV | 1,400 | 44,902 |
Shell plc | 7,552 | 243,377 |
425,978 | ||
Norway — 1.2% | ||
Aker Solutions ASA (a) | 7,954 | 31,762 |
Equinor ASA | 1,899 | 63,661 |
Hoegh Autoliners ASA | 4,532 | 36,634 |
132,057 | ||
Poland — 0.4% | ||
ORLEN SA | 2,982 | 47,157 |
Singapore — 0.6% | ||
DBS Group Holdings Ltd. | 1,900 | 45,645 |
Hafnia Ltd. | 4,011 | 26,358 |
72,003 | ||
South Africa — 2.3% | ||
Absa Group Ltd. | 4,345 | 39,646 |
Kumba Iron Ore Ltd. | 1,591 | 42,155 |
INVESTMENTS | SHARES | VALUE($) |
South Africa — continued | ||
Mr Price Group Ltd. | 4,904 | 35,446 |
MTN Group Ltd. | 6,976 | 34,054 |
Nedbank Group Ltd. | 3,477 | 37,418 |
Sasol Ltd. | 3,124 | 39,487 |
Sibanye Stillwater Ltd. | 24,977 | 31,859 |
260,065 | ||
South Korea — 6.2% | ||
Doosan Bobcat, Inc. | 861 | 24,737 |
Hana Financial Group, Inc. | 1,402 | 40,766 |
Hankook Tire & Technology Co. Ltd. | 1,261 | 35,776 |
Hyundai Glovis Co. Ltd. | 270 | 34,266 |
Hyundai Marine & Fire Insurance Co. Ltd. | 1,446 | 33,731 |
Hyundai Mobis Co. Ltd. | 185 | 28,650 |
Hyundai Motor Co. | 306 | 38,551 |
KB Financial Group, Inc. | 1,181 | 45,018 |
Kia Corp. | 830 | 47,419 |
Korean Air Lines Co. Ltd. | 2,222 | 33,808 |
Kumho Petrochemical Co. Ltd. | 361 | 33,929 |
LG Uplus Corp. | 4,616 | 34,596 |
Samsung Electronics Co. Ltd. | 3,626 | 180,484 |
Samsung Fire & Marine Insurance Co. Ltd. | 206 | 39,392 |
Samsung Life Insurance Co. Ltd. | 605 | 32,391 |
SK Telecom Co. Ltd. | 950 | 34,644 |
718,158 | ||
Spain — 2.5% | ||
Banco Bilbao Vizcaya Argentaria SA | 10,116 | 79,585 |
Banco de Sabadell SA | 30,121 | 37,452 |
Banco Santander SA | 24,567 | 90,356 |
Grupo Catalana Occidente SA | 1,036 | 33,187 |
Repsol SA | 3,314 | 48,524 |
289,104 | ||
Sweden — 1.4% | ||
Betsson AB, Class B * | 2,471 | 24,869 |
Skandinaviska Enskilda Banken AB, Class A | 4,496 | 50,173 |
SSAB AB, Class B | 6,049 | 35,094 |
Swedbank AB, Class A | 2,762 | 45,361 |
155,497 | ||
Switzerland — 3.1% | ||
Novartis AG (Registered) | 2,344 | 219,444 |
Sandoz Group AG * | 1,239 | 32,213 |
UBS Group AG (Registered) | 4,516 | 106,110 |
357,767 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 43 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Taiwan — 3.1% | ||
ASE Technology Holding Co. Ltd. | 12,000 | 42,012 |
Compeq Manufacturing Co. Ltd. | 21,000 | 34,337 |
Globalwafers Co. Ltd. | 2,000 | 29,400 |
Hon Hai Precision Industry Co. Ltd. | 22,000 | 65,664 |
Pegatron Corp. | 17,000 | 39,672 |
Powertech Technology, Inc. | 10,000 | 32,488 |
Sercomm Corp. | 9,000 | 31,401 |
Unimicron Technology Corp. | 6,000 | 26,759 |
United Microelectronics Corp. | 34,000 | 48,896 |
350,629 | ||
Thailand — 0.5% | ||
Bangchak Corp. PCL, NVDR | 20,600 | 23,659 |
Krung Thai Bank PCL, NVDR | 71,500 | 37,385 |
61,044 | ||
Turkey — 0.2% | ||
Tofas Turk Otomobil Fabrikasi A/S | 3,166 | 26,910 |
United Kingdom — 5.3% | ||
3i Group plc | 2,295 | 54,111 |
Barclays plc | 32,886 | 52,784 |
BP plc | 21,954 | 134,051 |
Centrica plc | 22,411 | 42,901 |
Future plc | 2,317 | 25,018 |
HSBC Holdings plc | 23,556 | 170,084 |
Investec plc | 5,751 | 31,882 |
Lloyds Banking Group plc | 126,285 | 61,463 |
NatWest Group plc | 17,484 | 38,042 |
610,336 | ||
United States — 2.1% | ||
GSK plc | 5,739 | 102,308 |
Holcim AG | 1,042 | 64,425 |
Stellantis NV | 3,921 | 73,253 |
239,986 | ||
Total Common Stocks (Cost $11,516,095) | 10,997,125 | |
Exchange-Traded Funds — 1.0% | ||
United States — 1.0% | ||
iShares MSCI India ETF(Cost $113,106) | 2,507 | 108,403 |
Short-Term Investments — 2.9% | ||
Investment Companies — 2.9% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (b) (c)(Cost $336,217) | 336,217 | 336,217 |
INVESTMENTS | SHARES | VALUE($) |
Total Investments — 99.5% (Cost $11,965,418) | 11,441,745 | |
Other Assets Less Liabilities — 0.5% | 60,820 | |
NET ASSETS — 100.0% | 11,502,565 |
Percentages indicated are based on net assets. |
Abbreviations | |
CHDI | Clearing House Electronic Subregister System (CHESS) Depository Interest |
CVA | Certificaten Van Aandelen (Dutch Certificate) |
ETF | Exchange Traded Fund |
GDR | Global Depositary Receipt |
NVDR | Non-Voting 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 |
* | 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 October 31, 2023. |
44 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Banks | 21.4 % |
Oil, Gas & Consumable Fuels | 14.0 |
Metals & Mining | 7.6 |
Insurance | 7.6 |
Automobiles | 6.5 |
Pharmaceuticals | 4.4 |
Trading Companies & Distributors | 3.0 |
Capital Markets | 2.7 |
Technology Hardware, Storage & Peripherals | 2.2 |
Diversified Telecommunication Services | 2.0 |
Broadline Retail | 2.0 |
Real Estate Management & Development | 1.6 |
Machinery | 1.4 |
Automobile Components | 1.4 |
Semiconductors & Semiconductor Equipment | 1.3 |
Electronic Equipment, Instruments & Components | 1.1 |
Passenger Airlines | 1.0 |
Gas Utilities | 1.0 |
Chemicals | 1.0 |
Marine Transportation | 1.0 |
Others (each less than 1.0%) | 12.9 |
Short-Term Investments | 2.9 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 45 |
JPMorgan Active China ETF | JPMorgan ActiveBuilders Emerging Markets Equity ETF | JPMorgan Global Select Equity ETF | JPMorgan Hedged Equity Laddered Overlay ETF | |
ASSETS: | ||||
Investments in non-affiliates, at value | $10,547,637 | $890,908,307 | $831,344,438 | $59,369,735 |
Investments in affiliates, at value | 10,004 | 4,916,639 | 10,930,514 | 451,185 |
Options purchased, at value | — | — | — | 590,304 |
Cash | 162 | 463,680 | 151,564 | 8,613 |
Foreign currency, at value | 7,227 | 146,598 | 43,337 | — |
Receivables: | ||||
Due from affiliate | — | — | — | 3,730 |
Investment securities sold | — | 22 | 7,324,289 | 175,847 |
Fund shares sold | — | — | — | 1,231,887 |
Dividends from non-affiliates | — | 1,159,247 | 218,025 | 28,811 |
Dividends from affiliates | 2 | 731 | 1,644 | 65 |
Tax reclaims | — | 53,750 | 5,689 | — |
Securities lending income (See Note 2.C.) | — | 56 | — | — |
Total Assets | 10,565,032 | 897,649,030 | 850,019,500 | 61,860,177 |
LIABILITIES: | ||||
Payables: | ||||
Investment securities purchased | 161 | 54,959 | 8,027,668 | 152,248 |
Variation margin on futures contracts | — | — | — | 32 |
Outstanding options written, at fair value | — | — | — | 94,127 |
Accrued liabilities: | ||||
Management fees (See Note 3.A.) | 5,902 | 250,556 | 315,799 | 19,955 |
Deferred foreign capital gains tax | — | 392,165 | — | — |
Other | — | 1,375 | — | — |
Total Liabilities | 6,063 | 699,055 | 8,343,467 | 266,362 |
Net Assets | $10,558,969 | $896,949,975 | $841,676,033 | $61,593,815 |
NET ASSETS: | ||||
Paid-in-Capital | $12,694,661 | $1,158,505,898 | $845,985,315 | $62,252,373 |
Total distributable earnings (loss) | (2,135,692 ) | (261,555,923 ) | (4,309,282 ) | (658,558 ) |
Total Net Assets | $10,558,969 | $896,949,975 | $841,676,033 | $61,593,815 |
Outstanding number of shares (unlimited number of shares authorized - par value $0.0001) | 260,000 | 26,800,000 | 18,275,000 | 1,250,000 |
Net asset value, per share | $40.61 | $33.47 | $46.06 | $49.28 |
Cost of investments in non-affiliates | $12,644,831 | $1,019,540,494 | $834,549,991 | $60,358,455 |
Cost of investments in affiliates | 10,003 | 4,916,176 | 10,930,338 | 451,185 |
Cost of options purchased | — | — | — | 625,568 |
Cost of foreign currency | 7,231 | 146,647 | 43,336 | — |
Premiums received from options written | — | — | — | 582,518 |
46 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
JPMorgan International Growth ETF | JPMorgan International Value ETF | |
ASSETS: | ||
Investments in non-affiliates, at value | $80,951,840 | $11,105,528 |
Investments in affiliates, at value | 1,033,189 | 336,217 |
Cash | 54,924 | 54,782 |
Foreign currency, at value | 1 | 2,627 |
Receivables: | ||
Investment securities sold | — | 32,006 |
Dividends from non-affiliates | 66,484 | 29,738 |
Dividends from affiliates | 150 | 35 |
Tax reclaims | 116,903 | 846 |
Total Assets | 82,223,491 | 11,561,779 |
LIABILITIES: | ||
Payables: | ||
Investment securities purchased | 84,620 | 53,897 |
Accrued liabilities: | ||
Management fees (See Note 3.A.) | 33,844 | 5,317 |
Total Liabilities | 118,464 | 59,214 |
Net Assets | $82,105,027 | $11,502,565 |
NET ASSETS: | ||
Paid-in-Capital | $96,783,908 | $12,049,097 |
Total distributable earnings (loss) | (14,678,881 ) | (546,532 ) |
Total Net Assets | $82,105,027 | $11,502,565 |
Outstanding number of shares (unlimited number of shares authorized - par value $0.0001) | 1,575,000 | 250,000 |
Net asset value, per share | $52.13 | $46.01 |
Cost of investments in non-affiliates | $81,505,461 | $11,629,201 |
Cost of investments in affiliates | 1,033,189 | 336,217 |
Cost of foreign currency | 1 | 2,582 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 47 |
JPMorgan Active China ETF (a) | JPMorgan ActiveBuilders Emerging Markets Equity ETF | JPMorgan Global Select Equity ETF (b) | JPMorgan Hedged Equity Laddered Overlay ETF (c) | |
INVESTMENT INCOME: | ||||
Interest income from non-affiliates | $— | $1,043 | $— | $— |
Interest income from affiliates | 4 | 16,244 | 40 | — |
Dividend income from non-affiliates | 260,382 | 30,138,408 | 342,839 | 37,033 |
Dividend income from affiliates | 3,317 | 191,415 | 34,824 | 12,405 |
Income from securities lending (net) (See Note 2.C.) | — | 185 | — | — |
Foreign taxes withheld (net) | (23,005 ) | (3,535,043 ) | (9,154 ) | — |
Total investment income | 240,698 | 26,812,252 | 368,549 | 49,438 |
EXPENSES: | ||||
Management fees (See Note 3.A.) | 47,429 | 3,216,468 | 317,858 | 20,639 |
Interest expense to affiliates | — | 21,361 | — | — |
Total expenses | 47,429 | 3,237,829 | 317,858 | 20,639 |
Net investment income (loss) | 193,269 | 23,574,423 | 50,691 | 28,799 |
REALIZED/UNREALIZED GAINS (LOSSES): | ||||
Net realized gain (loss) on transactions from: | ||||
Investments in non-affiliates | (236,162 ) | (88,810,736 )(d) | (1,078,380 ) | (59,764 ) |
Investments in affiliates | (575 ) | 9,594 | (179 ) | — |
In-kind redemptions of investments in non-affiliates (See Note 4) | — | 13,097,310 | — | — |
Options purchased | — | — | — | (68,683 ) |
Futures contracts | — | — | — | 4,747 |
Foreign currency transactions | 4,973 | (509,899 ) | (77,524 ) | — |
Options written | — | — | — | (28,043 ) |
Net realized gain (loss) | (231,764 ) | (76,213,731 ) | (1,156,083 ) | (151,743 ) |
Change in net unrealized appreciation/depreciation on: | ||||
Investments in non-affiliates | (2,097,194 ) | 160,619,557 (e) | (3,205,553 ) | (988,720 ) |
Investments in affiliates | 1 | 690 | 176 | — |
Options purchased | — | — | — | (35,264 ) |
Futures contracts | — | — | — | (21 ) |
Foreign currency translations | (4 ) | (1,047 ) | 1,487 | — |
Options written | — | — | — | 488,391 |
Change in net unrealized appreciation/depreciation | (2,097,197 ) | 160,619,200 | (3,203,890 ) | (535,614 ) |
Net realized/unrealized gains (losses) | (2,328,961 ) | 84,405,469 | (4,359,973 ) | (687,357 ) |
Change in net assets resulting from operations | $(2,135,692 ) | $107,979,892 | $(4,309,282 ) | $(658,558 ) |
48 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
JPMorgan International Growth ETF | JPMorgan International Value ETF (a) | |
INVESTMENT INCOME: | ||
Interest income from non-affiliates | $178 | $— |
Interest income from affiliates | 988 | 156 |
Dividend income from non-affiliates | 1,488,182 | 49,323 |
Dividend income from affiliates | 62,958 | 3,517 |
Income from securities lending (net) (See Note 2.C.) | 1,330 | — |
Foreign taxes withheld (net) | (115,071 ) | (7,707 ) |
Total investment income | 1,438,565 | 45,289 |
EXPENSES: | ||
Management fees (See Note 3.A.) | 447,467 | 8,263 |
Interest expense to affiliates | 43 | 32 |
Total expenses | 447,510 | 8,295 |
Net investment income (loss) | 991,055 | 36,994 |
REALIZED/UNREALIZED GAINS (LOSSES): | ||
Net realized gain (loss) on transactions from: | ||
Investments in non-affiliates | (4,973,549 ) | (51,503 ) |
Foreign currency transactions | (20,271 ) | (8,061 ) |
Net realized gain (loss) | (4,993,820 ) | (59,564 ) |
Change in net unrealized appreciation/depreciation on: | ||
Investments in non-affiliates | 8,148,530 | (523,673 ) |
Foreign currency translations | 5,862 | (289 ) |
Change in net unrealized appreciation/depreciation | 8,154,392 | (523,962 ) |
Net realized/unrealized gains (losses) | 3,160,572 | (583,526 ) |
Change in net assets resulting from operations | $4,151,627 | $(546,532 ) |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 49 |
JPMorgan Active China ETF | JPMorgan ActiveBuilders Emerging Markets Equity ETF | ||
Period Ended October 31, 2023 (a) | Year Ended October 31, 2023 | Year Ended October 31, 2022 | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | |||
Net investment income (loss) | $193,269 | $23,574,423 | $22,556,173 |
Net realized gain (loss) | (231,764 ) | (76,213,731 ) | (63,193,216 ) |
Change in net unrealized appreciation/depreciation | (2,097,197 ) | 160,619,200 | (276,748,688 ) |
Change in net assets resulting from operations | (2,135,692 ) | 107,979,892 | (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 | (91,696,023 ) | 903,841,753 |
NET ASSETS: | |||
Change in net assets | 10,558,969 | (10,204,151 ) | 581,290,166 |
Beginning of year | — | 907,154,126 | 325,863,960 |
End of period | $10,558,969 | $896,949,975 | $907,154,126 |
CAPITAL TRANSACTIONS: | |||
Proceeds from shares issued | $12,694,661 | $183,119,158 | $903,841,753 |
Cost of shares redeemed | — | (274,815,181 ) | — |
Total change in net assets resulting from capital transactions | $12,694,661 | $(91,696,023 ) | $903,841,753 |
SHARE TRANSACTIONS: | |||
Issued | 260,000 | 5,200,000 | 22,400,000 |
Redeemed | — | (7,600,000 ) | — |
Net increase (decrease) in shares from share transactions | 260,000 | (2,400,000 ) | 22,400,000 |
50 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
JPMorgan Global Select Equity ETF | JPMorgan Hedged Equity Laddered Overlay ETF | |
Period Ended October 31, 2023 (a) | Period Ended October 31, 2023 (b) | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||
Net investment income (loss) | $50,691 | $28,799 |
Net realized gain (loss) | (1,156,083 ) | (151,743 ) |
Change in net unrealized appreciation/depreciation | (3,203,890 ) | (535,614 ) |
Change in net assets resulting from operations | (4,309,282 ) | (658,558 ) |
CAPITAL TRANSACTIONS: | ||
Change in net assets resulting from capital transactions | 845,985,315 | 62,252,373 |
NET ASSETS: | ||
Change in net assets | 841,676,033 | 61,593,815 |
Beginning of year | — | — |
End of period | $841,676,033 | $61,593,815 |
CAPITAL TRANSACTIONS: | ||
Proceeds from shares issued | $846,035,530 | $62,252,373 |
Cost of shares redeemed | (50,215 ) | — |
Total change in net assets resulting from capital transactions | $845,985,315 | $62,252,373 |
SHARE TRANSACTIONS: | ||
Issued | 18,275,000 | 1,250,000 |
Net increase (decrease) in shares from share transactions | 18,275,000 | 1,250,000 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 51 |
JPMorgan International Growth ETF | JPMorgan International Value ETF | ||
Year Ended October 31, 2023 | Year Ended October 31, 2022 | Period Ended October 31, 2023 (a) | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | |||
Net investment income (loss) | $991,055 | $448,870 | $36,994 |
Net realized gain (loss) | (4,993,820 ) | (9,022,413 ) | (59,564 ) |
Change in net unrealized appreciation/depreciation | 8,154,392 | (19,659,292 ) | (523,962 ) |
Change in net assets resulting from operations | 4,151,627 | (28,232,835 ) | (546,532 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | |||
Total distributions to shareholders | (548,251 ) | (823,639 ) | — |
CAPITAL TRANSACTIONS: | |||
Change in net assets resulting from capital transactions | 23,519,546 | 22,746,629 | 12,049,097 |
NET ASSETS: | |||
Change in net assets | 27,122,922 | (6,309,845 ) | 11,502,565 |
Beginning of year | 54,982,105 | 61,291,950 | — |
End of period | $82,105,027 | $54,982,105 | $11,502,565 |
CAPITAL TRANSACTIONS: | |||
Proceeds from shares issued | $23,520,679 | $29,268,696 | $12,049,097 |
Cost of shares redeemed | (1,133 ) | (6,522,067 ) | — |
Total change in net assets resulting from capital transactions | $23,519,546 | $22,746,629 | $12,049,097 |
SHARE TRANSACTIONS: | |||
Issued | 425,000 | 500,000 | 250,000 |
Redeemed | — | (125,000 ) | — |
Net increase (decrease) in shares from share transactions | 425,000 | 375,000 | 250,000 |
52 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
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 October 31, 2023 | $48.00 | $0.75 | $(8.14 ) | $(7.39 ) | $— | $— | $— |
JPMorgan ActiveBuilders Emerging Markets Equity ETF | |||||||
Year Ended October 31, 2023 | 31.07 | 0.86 | 2.45 | 3.31 | (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 Global Select Equity ETF | |||||||
September 13, 2023 (f) through October 31, 2023 | 48.00 | 0.00 (i) | (1.94 ) | (1.94 ) | — | — | — |
JPMorgan Hedged Equity Laddered Overlay ETF | |||||||
September 28, 2023 (f) through October 31, 2023 | 50.00 | 0.03 | (0.75 ) | (0.72 ) | — | — | — |
JPMorgan International Growth ETF | |||||||
Year Ended October 31, 2023 | 47.81 | 0.68 | 4.12 | 4.80 | (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 | — | — | — |
JPMorgan International Value ETF | |||||||
September 13, 2023 (f) through October 31, 2023 | 48.00 | 0.15 | (2.14 ) | (1.99 ) | — | — | — |
(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. |
(i) | Amount rounds to less than $0.005. |
54 | J.P. Morgan Exchange-Traded Funds | October 31, 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) |
$40.61 | $40.77 | (15.40 )% | (15.06 )%(g) | $10,558,969 | 0.65 % | 2.64 % | 0.65 % | 17 % |
33.47 | 33.45 | 10.61 | 10.27 | 896,949,975 | 0.33 | 2.41 | 0.33 | 46 |
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 |
46.06 | 46.13 | (4.04 ) | (3.90 )(g) | 841,676,033 | 0.47 | 0.07 | 0.47 | 8 |
49.28 | 49.28 | (1.44 ) | (1.44 )(g) | 61,593,815 | 0.50 | 0.70 | 0.50 | 4 |
52.13 | 52.11 | 10.03 | 10.01 | 82,105,027 | 0.55 | 1.21 | 0.55 | 53 |
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 |
46.01 | 46.22 | (4.15 ) | (3.71 )(g) | 11,502,565 | 0.55 | 2.46 | 0.55 | 4 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 55 |
Diversification Classification | |
JPMorgan Active China ETF | Non-Diversified |
JPMorgan ActiveBuilders Emerging Markets Equity ETF | Diversified |
JPMorgan Global Select Equity ETF | Diversified |
JPMorgan Hedged Equity Laddered Overlay ETF | Diversified |
JPMorgan International Growth ETF | Diversified |
JPMorgan International Value ETF | Diversified |
Listing Exchange | |
Active China ETF | NYSE Arca, Inc. |
ActiveBuilders Emerging Markets Equity ETF | Cboe BZX Exchange, Inc. |
Global Select Equity ETF | The NASDAQ Stock Market LLC |
Hedged Equity Laddered Overlay ETF | NYSE Arca, Inc. |
International Growth ETF | NYSE Arca, Inc. |
International Value ETF | The NASDAQ Stock Market LLC |
56 | J.P. Morgan Exchange-Traded Funds | October 31, 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 | $— | $179,524 | $— | $179,524 |
Banks | — | 947,171 | — | 947,171 |
Beverages | — | 650,296 | — | 650,296 |
Broadline Retail | — | 717,018 | — | 717,018 |
Chemicals | — | 283,753 | — | 283,753 |
Consumer Staples Distribution & Retail | — | 137,513 | — | 137,513 |
Electrical Equipment | — | 111,134 | — | 111,134 |
Electronic Equipment, Instruments & Components | — | 578,955 | — | 578,955 |
Entertainment | — | 327,444 | — | 327,444 |
Food Products | — | 417,090 | — | 417,090 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 57 |
Active China ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Gas Utilities | $— | $137,868 | $— | $137,868 |
Health Care Equipment & Supplies | — | 241,524 | — | 241,524 |
Health Care Providers & Services | — | 134,955 | — | 134,955 |
Hotels, Restaurants & Leisure | 119,570 | 392,648 | — | 512,218 |
Household Durables | — | 494,928 | — | 494,928 |
Independent Power and Renewable Electricity Producers | — | 261,656 | — | 261,656 |
Insurance | — | 545,065 | — | 545,065 |
Interactive Media & Services | 135,701 | 1,014,040 | — | 1,149,741 |
Life Sciences Tools & Services | — | 189,641 | — | 189,641 |
Machinery | — | 232,994 | — | 232,994 |
Media | — | 184,471 | — | 184,471 |
Metals & Mining | — | 117,062 | — | 117,062 |
Oil, Gas & Consumable Fuels | — | 337,350 | — | 337,350 |
Pharmaceuticals | 109,284 | 160,429 | — | 269,713 |
Real Estate Management & Development | 190,436 | — | — | 190,436 |
Semiconductors & Semiconductor Equipment | — | 535,679 | — | 535,679 |
Software | — | 321,772 | — | 321,772 |
Technology Hardware, Storage & Peripherals | — | 181,542 | — | 181,542 |
Textiles, Apparel & Luxury Goods | — | 159,124 | — | 159,124 |
Total Common Stocks | 554,991 | 9,992,646 | — | 10,547,637 |
Short-Term Investments | ||||
Investment Companies | 10,004 | — | — | 10,004 |
Total Investments in Securities | $564,995 | $9,992,646 | $— | $10,557,641 |
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 | $— | $574,651 | $— | $574,651 |
Brazil | 54,130,160 | — | — | 54,130,160 |
Canada | 365,775 | — | — | 365,775 |
Chile | 3,718,850 | — | — | 3,718,850 |
China | 14,921,348 | 243,982,953 | — | 258,904,301 |
Colombia | 553,052 | — | — | 553,052 |
Czech Republic | — | 358,063 | — | 358,063 |
Ghana | 634,868 | — | — | 634,868 |
Greece | 1,303,260 | 2,806,292 | — | 4,109,552 |
Hong Kong | — | 13,202,643 | — | 13,202,643 |
Hungary | 960,637 | 2,208,227 | — | 3,168,864 |
India | 12,694,794 | 124,002,579 | — | 136,697,373 |
Indonesia | 714,895 | 17,977,505 | — | 18,692,400 |
Kuwait | — | 826,343 | — | 826,343 |
Macau | — | 833,222 | — | 833,222 |
Malaysia | 429,703 | 3,569,596 | — | 3,999,299 |
Mexico | 31,133,096 | — | — | 31,133,096 |
Panama | 457,975 | — | — | 457,975 |
58 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
ActiveBuilders Emerging Markets Equity ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Peru | $3,533,619 | $— | $— | $3,533,619 |
Philippines | 485,562 | 1,277,361 | — | 1,762,923 |
Poland | — | 5,738,570 | — | 5,738,570 |
Portugal | — | 2,104,541 | — | 2,104,541 |
Qatar | 2,735,013 | 1,610,135 | — | 4,345,148 |
Russia | — | — | 147,215 | 147,215 |
Saudi Arabia | 7,955,763 | 18,885,822 | — | 26,841,585 |
South Africa | 19,713,147 | 13,942,905 | — | 33,656,052 |
South Korea | 524,535 | 110,585,386 | — | 111,109,921 |
Spain | — | 358,022 | — | 358,022 |
Switzerland | — | 189,170 | — | 189,170 |
Taiwan | — | 134,767,444 | — | 134,767,444 |
Thailand | — | 14,709,242 | — | 14,709,242 |
Turkey | 874,172 | 159,401 | — | 1,033,573 |
United Arab Emirates | 6,321,623 | 2,113,859 | — | 8,435,482 |
United Kingdom | 154,142 | 1,254,388 | — | 1,408,530 |
United States | 6,655,963 | 1,750,820 | — | 8,406,783 |
Total Common Stocks | 170,971,952 | 719,789,140 | 147,215 | 890,908,307 |
Short-Term Investments | ||||
Investment Companies | 4,916,639 | — | — | 4,916,639 |
Total Investments in Securities | $175,888,591 | $719,789,140 | $147,215 | $895,824,946 |
Global Select Equity ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | ||||
Canada | $4,590,123 | $— | $— | $4,590,123 |
China | 7,940,746 | — | — | 7,940,746 |
Denmark | — | 17,912,936 | — | 17,912,936 |
France | — | 55,726,955 | — | 55,726,955 |
Germany | — | 16,814,280 | — | 16,814,280 |
Hong Kong | — | 5,083,501 | — | 5,083,501 |
India | 7,730,102 | — | — | 7,730,102 |
Japan | — | 23,848,508 | — | 23,848,508 |
Mexico | 5,780,487 | — | — | 5,780,487 |
Netherlands | — | 28,789,757 | — | 28,789,757 |
Singapore | — | 10,531,829 | — | 10,531,829 |
South Korea | — | 9,751,197 | — | 9,751,197 |
Sweden | — | 7,633,586 | — | 7,633,586 |
Switzerland | — | 5,555,038 | — | 5,555,038 |
Taiwan | 24,494,951 | — | — | 24,494,951 |
United Kingdom | — | 30,806,922 | — | 30,806,922 |
United States | 559,309,973 | 9,043,547 | — | 568,353,520 |
Total Common Stocks | 609,846,382 | 221,498,056 | — | 831,344,438 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 59 |
Global Select Equity ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Short-Term Investments | ||||
Investment Companies | $10,930,514 | $— | $— | $10,930,514 |
Total Investments in Securities | $620,776,896 | $221,498,056 | $— | $842,274,952 |
Hedged Equity Laddered Overlay ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Total Investments in Securities (a) | $60,411,224 | $— | $— | $60,411,224 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts (a) | $(21 ) | $— | $— | $(21 ) |
Options Written (a) | ||||
Call Options Written | (53,449 ) | — | — | (53,449 ) |
Put Options Written | (40,678 ) | — | — | (40,678 ) |
Total Depreciation in Other Financial Instruments | $(94,148 ) | $— | $— | $(94,148 ) |
(a) | Please refer to the SOI for specifics of portfolio holdings. |
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 | $— | $1,765,825 | $— | $1,765,825 |
Belgium | — | 551,559 | — | 551,559 |
Brazil | 1,294,838 | — | — | 1,294,838 |
Canada | 4,531,052 | — | — | 4,531,052 |
China | 1,797,759 | 4,766,045 | — | 6,563,804 |
Denmark | — | 2,676,588 | — | 2,676,588 |
France | — | 9,074,295 | — | 9,074,295 |
Germany | — | 3,058,639 | — | 3,058,639 |
Hong Kong | — | 798,530 | — | 798,530 |
India | 1,569,053 | — | — | 1,569,053 |
Indonesia | 792,682 | 1,236,927 | — | 2,029,609 |
Italy | — | 343,569 | — | 343,569 |
Japan | — | 12,071,622 | — | 12,071,622 |
Mexico | 1,015,835 | — | — | 1,015,835 |
Netherlands | 205,295 | 4,267,460 | — | 4,472,755 |
Singapore | — | 1,285,248 | — | 1,285,248 |
South Korea | — | 509,639 | — | 509,639 |
Spain | — | 2,059,686 | — | 2,059,686 |
Sweden | — | 2,693,956 | — | 2,693,956 |
Switzerland | — | 1,165,126 | — | 1,165,126 |
Taiwan | 4,179,821 | — | — | 4,179,821 |
United Kingdom | — | 9,355,276 | — | 9,355,276 |
United States | 2,328,795 | 5,556,720 | — | 7,885,515 |
Total Common Stocks | 17,715,130 | 63,236,710 | — | 80,951,840 |
60 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
International Growth ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Short-Term Investments | ||||
Investment Companies | $1,033,189 | $— | $— | $1,033,189 |
Total Investments in Securities | $18,748,319 | $63,236,710 | $— | $81,985,029 |
International Value ETF | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | ||||
Australia | $— | $589,497 | $— | $589,497 |
Austria | 64,375 | 83,688 | — | 148,063 |
Belgium | — | 36,953 | — | 36,953 |
Brazil | 255,864 | — | — | 255,864 |
Canada | 631,669 | — | — | 631,669 |
Chile | 27,286 | — | — | 27,286 |
China | — | 1,065,069 | — | 1,065,069 |
Denmark | — | 147,418 | — | 147,418 |
Finland | — | 141,667 | — | 141,667 |
France | — | 657,726 | — | 657,726 |
Germany | — | 612,760 | — | 612,760 |
Greece | — | 33,709 | — | 33,709 |
Hong Kong | — | 104,022 | — | 104,022 |
Hungary | — | 36,066 | — | 36,066 |
India | 39,943 | — | — | 39,943 |
Indonesia | — | 32,758 | — | 32,758 |
Ireland | — | 66,486 | — | 66,486 |
Italy | 68,359 | 481,421 | — | 549,780 |
Japan | — | 2,031,681 | — | 2,031,681 |
Luxembourg | — | 6,528 | — | 6,528 |
Mexico | 35,489 | — | — | 35,489 |
Netherlands | — | 425,978 | — | 425,978 |
Norway | 36,634 | 95,423 | — | 132,057 |
Poland | — | 47,157 | — | 47,157 |
Singapore | — | 72,003 | — | 72,003 |
South Africa | 149,073 | 110,992 | — | 260,065 |
South Korea | — | 718,158 | — | 718,158 |
Spain | — | 289,104 | — | 289,104 |
Sweden | — | 155,497 | — | 155,497 |
Switzerland | 32,213 | 325,554 | — | 357,767 |
Taiwan | — | 350,629 | — | 350,629 |
Thailand | — | 61,044 | — | 61,044 |
Turkey | 26,910 | — | — | 26,910 |
United Kingdom | 31,882 | 578,454 | — | 610,336 |
United States | — | 239,986 | — | 239,986 |
Total Common Stocks | 1,399,697 | 9,597,428 | — | 10,997,125 |
Exchange-Traded Funds | 108,403 | — | — | 108,403 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 61 |
International Value ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Short-Term Investments | ||||
Investment Companies | $336,217 | $— | $— | $336,217 |
Total Investments in Securities | $1,844,317 | $9,597,428 | $— | $11,441,745 |
ActiveBuilders Emerging Markets Equity ETF | $3 |
International Growth ETF | 157 |
62 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Active China ETF | |||||||||
For the period ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 5.49% (b) (c) | $— | $11,630,343 | $11,619,765 | $(575 ) | $1 | $10,004 | 10,000 | $3,317 | $— |
(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 October 31, 2023. |
ActiveBuilders Emerging Markets Equity ETF | |||||||||
For the year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 5.49% (a) (b) | $3,448,509 | $202,171,774 | $200,713,928 | $9,594 | $690 | $4,916,639 | 4,914,673 | $191,415 | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | — | 744,540 | 744,540 | — | — | — | — | 243 * | — |
Total | $3,448,509 | $202,916,314 | $201,458,468 | $9,594 | $690 | $4,916,639 | $191,658 | $— |
(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 October 31, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
Global Select Equity ETF | |||||||||
For the period ended October 31, 2023 | |||||||||
Security Description | Value at September 13, 2023(a) | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 5.49% (b) (c) | $— | $22,206,596 | $11,276,079 | $(179 ) | $176 | $10,930,514 | 10,926,144 | $34,824 | $— |
(a) | Commencement of operations was September 13, 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 October 31, 2023. |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 63 |
Hedged Equity Laddered Overlay ETF | |||||||||
For the period ended October 31, 2023 | |||||||||
Security Description | Value at September 28, 2023(a) | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (b) (c) | $— | $19,452,157 | $19,000,972 | $— | $— | $451,185 | 451,185 | $12,405 | $— |
(a) | Commencement of operations was September 28, 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 October 31, 2023. |
International Growth ETF | |||||||||
For the year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | $749,113 | $2,972,140 | $3,721,253 | $— | $— | $— | — | $7,966 * | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | 2,455,095 | 21,691,779 | 23,113,685 | — | — | 1,033,189 | 1,033,189 | 62,958 | — |
Total | $3,204,208 | $24,663,919 | $26,834,938 | $— | $— | $1,033,189 | $70,924 | $— |
(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 October 31, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
International Value ETF | |||||||||
For the period ended October 31, 2023 | |||||||||
Security Description | Value at September 13, 2023(a) | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (b) (c) | $— | $8,710,925 | $8,374,708 | $— | $— | $336,217 | 336,217 | $3,517 | $— |
(a) | Commencement of operations was September 13, 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 October 31, 2023. |
64 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 65 |
Hedged Equity Laddered Overlay ETF | |
Futures Contracts: | |
Average Notional Balance Long | $331,230 (a) |
Ending Notional Balance Long | 842,350 |
Exchange-Traded Options: | |
Average Number of Contracts Purchased | 668 (a) |
Average Number of Contracts Written | (1,336 )(a) |
Ending Number of Contracts Purchased | 1,419 |
Ending Number of Contracts Written | (2,838 ) |
(a) | For the period September 28, 2023 through October 31, 2023. |
66 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Paid-in-Capital | Accumulated undistributed (distributions in excess of) net investment income | Accumulated net realized gains (losses) | |
Active China ETF | $— | $4,973 | $(4,973 ) |
ActiveBuilders Emerging Markets Equity ETF | 9,685,139 | 2,161,126 | (11,846,265 ) |
Global Select Equity ETF | — | (77,524 ) | 77,524 |
International Growth ETF | — | 214,065 | (214,065 ) |
International Value ETF | — | (1,749 ) | 1,749 |
Active China ETF | 0.65 % |
ActiveBuilders Emerging Markets Equity ETF | 0.33 |
Global Select Equity ETF | 0.47 |
Hedged Equity Laddered Overlay ETF | 0.50 |
International Growth ETF | 0.55 |
International Value ETF | 0.55 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 67 |
Purchases (excluding U.S. Government) | Sales (excluding U.S. Government) | |
Active China ETF | $14,657,025 | $1,776,031 |
ActiveBuilders Emerging Markets Equity ETF | 444,498,192 | 473,059,036 |
Global Select Equity ETF | 47,013,417 | 21,799,134 |
Hedged Equity Laddered Overlay ETF | 26,544,578 | 1,548,271 |
International Growth ETF | 46,882,371 | 42,049,543 |
68 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Purchases (excluding U.S. Government) | Sales (excluding U.S. Government) | |
International Value ETF | $10,153,216 | $452,351 |
In-Kind Purchases | In-Kind Sales | |
ActiveBuilders Emerging Markets Equity ETF | $43,330,458 | $109,428,293 |
Global Select Equity ETF | 810,414,113 | — |
Hedged Equity Laddered Overlay ETF | 35,422,040 | — |
International Growth ETF | 20,628,880 | — |
International Value ETF | 1,986,103 | — |
Aggregate Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | |
Active China ETF | $12,654,834 | $100,586 | $2,197,779 | $(2,097,193 ) |
ActiveBuilders Emerging Markets Equity ETF | 1,048,714,911 | 28,575,344 | 181,465,309 | (152,889,965 ) |
Global Select Equity ETF | 845,786,281 | 17,326,552 | 20,837,881 | (3,511,329 ) |
Hedged Equity Laddered Overlay ETF | 60,857,247 | 1,422,698 | 1,962,869 | (540,171 ) |
International Growth ETF | 83,275,833 | 5,446,806 | 6,737,610 | (1,290,804 ) |
International Value ETF | 11,973,728 | 123,906 | 655,889 | (531,983 ) |
Ordinary Income* | Total Distributions Paid | |
ActiveBuilders Emerging Markets Equity ETF | $26,488,020 | $26,488,020 |
International Growth ETF | 548,251 | 548,251 |
* | Short-term gain distributions are treated as ordinary income for income tax purposes. |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 69 |
Ordinary Income* | Net Long-Term Capital Gains | Total Distributions Paid | |
ActiveBuilders Emerging Markets Equity ETF | $5,165,856 | $— | $5,165,856 |
International Growth ETF | 426,147 | 397,492 | 823,639 |
* | Short-term gain distributions are treated as ordinary income for income tax purposes. |
Current Distributable Ordinary Income | Current Distributable Long-Term Capital Gain (Tax Basis Capital Loss Carryover) | Unrealized Appreciation (Depreciation) | |
Active China ETF | $202,582 | $(236,737 ) | $(2,097,197 ) |
ActiveBuilders Emerging Markets Equity ETF | 22,314,362 | (130,572,141 ) | (153,284,005 ) |
Global Select Equity ETF | 202,411 | (1,001,211 ) | (3,509,842 ) |
Hedged Equity Laddered Overlay ETF | 28,799 | (147,186 ) | (540,171 ) |
International Growth ETF | 1,220,047 | (14,592,859 ) | (1,293,068 ) |
International Value ETF | 39,254 | (52,875 ) | (532,272 ) |
Capital Loss Carryforward Character | ||
Short-Term | Long-Term | |
Active China ETF | $236,737 | $— |
ActiveBuilders Emerging Markets Equity ETF | 80,921,269 | 49,650,872 |
Global Select Equity ETF | 1,001,211 | — |
Hedged Equity Laddered Overlay ETF | 147,186 | — |
International Growth ETF | 8,005,243 | 6,587,616 |
International Value ETF | 52,875 | — |
70 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Average Borrowings | Average Interest Rate paid | Number of Days Outstanding | Interest Paid | |
ActiveBuilders Emerging Markets Equity ETF | $2,328,244 | 5.94 % | 2 | $763 |
JPMorgan SmartRetirement Funds | |
ActiveBuilders Emerging Markets Equity ETF | 49.9 % |
Global Select Equity ETF | 97.7 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 71 |
% of Ownership | |
Active China ETF | 77 % |
International Value ETF | 80 |
Active China ETF | ActiveBuilders Emerging Markets Equity ETF | International Growth ETF | International Value ETF | |
China | 99.9 % | 28.9 % | — % | — % |
France | — | — | 11.1 | — |
India | — | 15.3 | — | — |
Japan | — | — | 14.7 | 17.8 |
South Korea | — | 12.4 | — | — |
Taiwan | — | 15.0 | — | — |
United Kingdom | — | — | 11.4 | — |
72 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
countries typically have less established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. In addition, emerging markets typically present greater illiquidity and price volatility concerns due to smaller or limited local capital markets and greater difficulty in determining market valuations of securities due to limited public information on issuers. Certain emerging market countries may be subject to less stringent requirements regarding accounting, auditing, financial reporting and record keeping and therefore, material information related to an investment may not be available or reliable.
a Fund's volatility, negatively impact a Fund’s arbitrage and pricing mechanisms, exacerbate other pre-existing political, social and economic risks to the Funds and negatively impact broad segments of businesses and populations. In addition, governments, their regulatory agencies, or self-regulatory organizations have taken or may take actions in response to a pandemic or other global event that affect the instruments in which the
Funds invest, or the issuers of such instruments, in ways that could have a significant negative impact on a Fund’s investment performance. The ultimate impact of any pandemic or other global event and the extent to which the associated conditions and governmental responses impact a Fund will also depend on future developments, which are highly uncertain, difficult to accurately predict and subject to frequent changes.
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 73 |
JPMorgan Active China ETF (1) |
JPMorgan ActiveBuilders Emerging Markets Equity ETF (2) |
JPMorgan Global Select Equity ETF (3) |
JPMorgan Hedged Equity Laddered Overlay ETF (4) |
JPMorgan International Growth ETF (2) |
JPMorgan International Value ETF (3) |
(1) | Statement of operations and statement of changes in net assets for the period March 15, 2023 (commencement of operations) through October 31, 2023 |
(2) | Statement of operations for the year ended October 31, 2023 and statement of changes in net assets for the years ended October 31, 2023 and 2022 |
(3) | Statement of operations and statement of changes in net assets for the period September 13, 2023 (commencement of operations) through October 31, 2023 |
(4) | Statement of operations and statement of changes in net assets for the period September 28, 2023 (commencement of operations) through October 31, 2023 |
74 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Name (Year of Birth); Positions With the Funds (1) | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee (2) | Other Directorships Held During the Past 5 Years |
Independent Trustees | |||
John F. Finn (1947); Chair since 2020; Trustee since 1998. | Chairman, Gardner, Inc. (supply chain management company serving industrial and consumer markets) (serving in various roles 1974-present). | 170 | Director, Greif, Inc. (GEF) (industrial package products and services) (2007-present); Trustee, Columbus Association for the Performing Arts (1988-present). |
Stephen P. Fisher (1959); Trustee since 2018. | Retired; Chairman and Chief Executive Officer, NYLIFE Distributors LLC (registered broker-dealer) (serving in various roles 2008-2013); Chairman, NYLIM Service Company LLC (transfer agent) (2008-2017); New York Life Investment Management LLC (registered investment adviser) (serving in various roles 2005-2017); Chairman, IndexIQ Advisors LLC (registered investment adviser for ETFs) (2014-2017); President, MainStay VP Funds Trust (2007-2017), MainStay DefinedTerm Municipal Opportunities Fund (2011-2017) and MainStay Funds Trust (2007-2017) (registered investment companies). | 170 | Honors Program Advisory Board Member, The Zicklin School of Business, Baruch College, The City University of New York (2017-present). |
Gary L. French (1951); Trustee since 2014. | Real Estate Investor (2011-2020); Investment management industry Consultant and Expert Witness (2011-present); Senior Consultant for The Regulatory Fundamentals Group LLC (2011-2017). | 170 | Independent Trustee, The China Fund, Inc. (2013-2019); Exchange Traded Concepts Trust II (2012-2014); Exchange Traded Concepts Trust I (2011-2014). |
Kathleen M. Gallagher (1958); Trustee since 2018. | Retired; Chief Investment Officer — Benefit Plans, Ford Motor Company (serving in various roles 1985-2016). | 170 | Non- Executive Director, Legal & General Investment Management (Holdings) (2018-present); Non-Executive Director, Legal & General Investment Management America (U.S. Holdings) (financial services and insurance) (2017-present); Advisory Board Member, State Street Global Advisors Total Portfolio Solutions (2017-present); Member, Client Advisory Council, Financial Engines, LLC (registered investment adviser) (2011-2016); Director, Ford Pension Funds Investment Management Ltd. (2007-2016). |
Robert J. Grassi (1957); Trustee since 2014. | Sole Proprietor, Academy Hills Advisors LLC (2012-present); Pension Director, Corning Incorporated (2002-2012). | 170 | None |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 75 |
Name (Year of Birth); Positions With the Funds (1) | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee (2) | Other Directorships Held During the Past 5 Years |
Independent Trustees (continued) | |||
Frankie D. Hughes (1952); Trustee since 2008. | President, Ashland Hughes Properties (property management) (2014-present); President and Chief Investment Officer, Hughes Capital Management, Inc. (fixed income asset management) (1993-2014). | 170 | None |
Raymond Kanner (1953); Trustee since 2017. | Retired; Managing Director and Chief Investment Officer, IBM Retirement Funds (2007-2016). | 170 | Advisory Board Member, Penso Advisors, LLC (2020-present); Advisory Board Member, Los Angeles Capital (2018-present); Advisory Board Member, State Street Global Advisors Total Portfolio Solutions (2017- present); Acting Executive Director, Committee on Investment of Employee Benefit Assets (CIEBA) (2016-2017); Advisory Board Member, Betterment for Business (robo advisor) (2016- 2017); Advisory Board Member, BlueStar Indexes (index creator) (2013-2017); Director, Emerging Markets Growth Fund (registered investment company) (1997-2016); Member, Russell Index Client Advisory Board (2001-2015). |
Thomas P. Lemke (1954); Trustee since 2014. | Retired since 2013. | 170 | (1) Independent Trustee of Advisors’ Inner Circle III fund platform, consisting of the following: (i) the Advisors’ Inner Circle Fund III, (ii) the Gallery Trust, (iii) the Schroder Series Trust, (iv) the Delaware Wilshire Private Markets Fund (since 2020), (v) Chiron Capital Allocation Fund Ltd., and (vi) formerly the Winton Diversified Opportunities Fund (2014-2018); and (2) Independent Trustee of the Symmetry Panoramic Trust (since 2018). |
Lawrence R. Maffia (1950); Trustee since 2014. | Retired; Director and President, ICI Mutual Insurance Company (2006-2013). | 170 | Director, ICI Mutual Insurance Company (1999-2013). |
Mary E. Martinez (1960); Vice Chair since 2021; Trustee since 2013. | Associate, Special Properties, a Christie’s International Real Estate Affiliate (2010-present); Managing Director, Bank of America (asset management) (2007-2008); Chief Operating Officer, U.S. Trust Asset Management, U.S. Trust Company (asset management) (2003-2007); President, Excelsior Funds (registered investment companies) (2004-2005). | 170 | None |
Marilyn McCoy (1948); Trustee since 1999. | Retired; Vice President of Administration and Planning, Northwestern University (1985-2023). | 170 | None |
76 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Name (Year of Birth); Positions With the Funds (1) | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee (2) | Other Directorships Held During the Past 5 Years |
Independent Trustees (continued) | |||
Dr. Robert A. Oden, Jr. (1946); Trustee since 1997. | Retired; President, Carleton College (2002-2010); President, Kenyon College (1995-2002). | 170 | Trustee, The Coldwater Conservation Fund (2017-present); Trustee, American Museum of Fly Fishing (2013-present); Trustee and Vice Chair, Trout Unlimited (2017-2021); Trustee, Dartmouth- Hitchcock Medical Center (2011-2020). |
Marian U. Pardo* (1946); Trustee since 2013. | Managing Director and Founder, Virtual Capital Management LLC (investment consulting) (2007-present); Managing Director, Credit Suisse Asset Management (portfolio manager) (2003-2006). | 170 | Board Chair and Member, Board of Governors, Columbus Citizens Foundation (not-for-profit supporting philanthropic and cultural programs) (2006-present). |
Emily A. Youssouf (1951); Trustee since 2014. | Adjunct Professor (2011-present) and Clinical Professor (2009-2011), NYU Schack Institute of Real Estate; Board Member and Member of the Audit Committee (2013–present), Chair of Finance Committee (2019-present), Member of Related Parties Committee (2013-2018) and Member of the Enterprise Risk Committee (2015-2018), PennyMac Financial Services, Inc.; Board Member (2005-2018), Chair of Capital Committee (2006-2016), Chair of Audit Committee (2005-2018), Member of Finance Committee (2005-2018) and Chair of IT Committee (2016-2018), NYC Health and Hospitals Corporation. | 170 | Trustee, NYC School Construction Authority (2009-present); Board Member, NYS Job Development Authority (2008-present); Trustee and Chair of the Audit Committee of the Transit Center Foundation (2015-2019). |
Interested Trustees | |||
Robert F. Deutsch** (1957); Trustee since 2014. | Retired; Head of ETF Business for JPMorgan Asset Management (2013-2017); Head of Global Liquidity Business for JPMorgan Asset Management (2003-2013). | 170 | Treasurer and Director of the JUST Capital Foundation (2017-present). |
Nina O. Shenker** (1957); Trustee since 2022. | Vice Chair (2017-2021), General Counsel and Managing Director (2008-2016), Associate General Counsel and Managing Director (2004-2008), J.P. Morgan Asset & Wealth Management. | 170 | Director and Member of Legal and Human Resources Subcommittees, American Jewish Joint Distribution Committee (2018-present). |
(1) | The year shown is the first year in which a Trustee became a member of any of the following: the JPMorgan Mutual Fund Board, the JPMorgan ETF Board, the heritage J.P. Morgan Funds or the heritage One Group Mutual Funds. Trustees serve an indefinite term, until resignation, retirement, removal or death. The Board's current retirement policy sets retirement at the end of the calendar year in which the Trustee attains the age of 75, provided that any Board member who was a member of the JPMorgan Mutual Fund Board prior to January 1, 2022 and was born prior to January 1, 1950 shall retire from the Board at the end of the calendar year in which the Trustee attains the age of 78. | ||
(2) | A Fund Complex means two or more registered investment companies that hold themselves out to investors as related companies for purposes of investment and investor services or have a common investment adviser or have an investment adviser that is an affiliated person of the investment adviser of any of the other registered investment companies. The J.P. Morgan Funds Complex for which the Board of Trustees serves currently includes nine registered investment companies (170 J.P. Morgan Funds). | ||
* | In connection with prior employment with JPMorgan Chase, Ms. Pardo was the recipient of non-qualified pension plan payments from JPMorgan Chase in the amount of approximately $2,055 per month, which she irrevocably waived effective January 1, 2013, and deferred compensation payments from JPMorgan Chase in the amount of approximately $7,294 per year, which ended in January 2013. In addition, Ms. Pardo receives payments from a fully-funded qualified plan, which is not an obligation of JPMorgan Chase. |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 77 |
** | Designation as an “Interested Trustee” is based on prior employment by the Adviser or an affiliate of the Adviser or interests in a control person of the Adviser. | ||
The contact address for each of the Trustees is 277 Park Avenue, New York, NY 10172. |
78 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Name (Year of Birth), Positions Held with the Trust (Since) | Principal Occupations During Past 5 Years |
Brian S. Shlissel (1964), President and Principal Executive Officer (2021) | Managing Director and Chief Administrative Officer for J.P. Morgan pooled vehicles, J.P. Morgan Investment Management Inc. since 2014. |
Timothy J. Clemens (1975), Treasurer and Principal Financial Officer (2020) | Managing Director, J.P. Morgan Investment Management Inc. Mr. Clemens has been with J.P. Morgan Investment Management Inc. since 2013. |
Gregory S. Samuels (1980), Secretary (2022) (formerly Assistant Secretary 2014-2022) | Managing Director and Assistant General Counsel, JPMorgan Chase & Co. Mr. Samuels has been with JPMorgan Chase & Co. since 2010. |
Stephen M. Ungerman (1953), Chief Compliance Officer (2014) | Managing Director, JPMorgan Chase & Co. Mr. Ungerman has been with JPMorgan Chase & Co. since 2000. |
Kiesha Astwood-Smith (1973), Assistant Secretary (2021) | Vice President and Assistant General Counsel, JPMorgan Chase & Co. since June 2021; Senior Director and Counsel, Equitable Financial Life Insurance Company (formerly, AXA Equitable Life Insurance Company) from September 2015 through June 2021. |
Matthew Beck (1988), Assistant Secretary (2021)* | Vice President and Assistant General Counsel, JPMorgan Chase & Co. since May 2021; Senior Legal Counsel, Ultimus Fund Solutions from May 2018 through May 2021; General Counsel, The Nottingham Company from April 2014 through May 2018. |
Elizabeth A. Davin (1964), Assistant Secretary (2022) (formerly Secretary 2018-2022)* | Executive Director and Assistant General Counsel, JPMorgan Chase & Co. Ms. Davin has been with JPMorgan Chase & Co. (formerly Bank One Corporation) since 2004. |
Jessica K. Ditullio (1962), Assistant Secretary (2014)* | Executive Director and Assistant General Counsel, JPMorgan Chase & Co. Ms. Ditullio has been with JPMorgan Chase & Co. (formerly Bank One Corporation) since 1990. |
Anthony Geron (1971), Assistant Secretary (2019) | Vice President and Assistant General Counsel, JPMorgan Chase & Co. since September 2018; Lead Director and Counsel, AXA Equitable Life Insurance Company from 2015 to 2018 and Senior Director and Counsel, AXA Equitable Life Insurance Company from 2014 to 2015. |
Carmine Lekstutis (1980), Assistant Secretary (2014) | Executive Director and Assistant General Counsel, JPMorgan Chase & Co. Mr. Lekstutis has been with JPMorgan Chase & Co. since 2011. |
Max Vogel (1990), Assistant Secretary (2021) | Vice President and Assistant General Counsel, JPMorgan Chase & Co. since June 2021; Associate, Proskauer Rose LLP (law firm) from March 2017 to June 2021. |
Zachary E. Vonnegut-Gabovitch (1986), Assistant Secretary (2017) | Executive Director and Assistant General Counsel, JPMorgan Chase & Co. Mr. Vonnegut-Gabovitch has been with JPMorgan Chase & Co. since September 2016. |
Frederick J. Cavaliere (1978), Assistant Treasurer (2015)** | Executive Director, J.P. Morgan Investment Management Inc. Mr. Cavaliere has been with JPMorgan Chase & Co. since May 2006. |
Michael M. D’Ambrosio (1969), Assistant Treasurer (2014) | Managing Director, J.P. Morgan Investment Management Inc. Mr. D’Ambrosio has been with J.P. Morgan Investment Management Inc. since 2012. |
Aleksandr Fleytekh (1972), Assistant Treasurer (2023) | Executive Director, J.P. Morgan Investment Management Inc. Mr. Fleytekh has been with J.P. Morgan Investment Management Inc. since February 2012. |
Shannon Gaines (1977), Assistant Treasurer (2019)* | Executive Director, J.P. Morgan Investment Management Inc. Mr. Gaines has been with J.P. Morgan Investment Management Inc. since January 2014. |
Jeffrey D. House (1972), Assistant Treasurer (2023)* | Vice President, J.P. Morgan Investment Management Inc. Mr. House has been with J.P. Morgan Investment Management Inc. since July 2006. |
Michael Mannarino (1985), Assistant Treasurer (2023) | Vice President, J.P. Morgan Investment Management Inc. Mr. Mannarino has been with J.P. Morgan Investment Management Inc. since 2014. |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 79 |
Nektarios E. Manolakakis (1972), Assistant Treasurer (2020) | Executive Director, J.P. Morgan Investment Management Inc. since February 2021, formerly Vice President, J.P. Morgan Investment Management Inc. since 2014; Vice President, J.P. Morgan Corporate & Investment Bank 2010-2014. |
Todd McEwen (1981), Assistant Treasurer (2020)* | Vice President, J.P. Morgan Investment Management Inc. Mr. McEwen has been with J.P. Morgan Investment Management Inc. since 2010. |
Joseph Parascondola (1963), Assistant Treasurer (2023)** | Executive Director, J.P. Morgan Investment Management Inc. Mr. Parascondola has been with J.P. Morgan Investment Management Inc. since 2006. |
Gillian I. Sands (1969), Assistant Treasurer (2023) | Executive Director, J.P. Morgan Investment Management Inc. Ms. Sands has been with J.P. Morgan Investment Management Inc. since September 2012. |
The contact address for each of the officers, unless otherwise noted, is 277 Park Avenue, New York, NY 10172. | |
* | The contact address for the officer is 1111 Polaris Parkway, Columbus, OH 43240. |
** | The contact address for the officer is 575 Washington Boulevard, Jersey City, NJ 07310. |
80 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Beginning Account Value May 1, 2023 | Ending Account Value October 31, 2023 | Expenses Paid During the Period | Annualized Expense Ratio | |
JPMorgan Active China ETF | ||||
Actual * | $1,000.00 | $851.00 | $3.03 | 0.65 % |
Hypothetical * | 1,000.00 | 1,021.93 | 3.31 | 0.65 |
JPMorgan ActiveBuilders Emerging Markets Equity ETF | ||||
Actual * | 1,000.00 | 940.70 | 1.61 | 0.33 |
Hypothetical * | 1,000.00 | 1,023.54 | 1.68 | 0.33 |
JPMorgan Global Select Equity ETF | ||||
Actual *** | 1,000.00 | 959.60 | 0.61 | 0.47 |
Hypothetical * | 1,000.00 | 1,022.84 | 2.40 | 0.47 |
JPMorgan Hedged Equity Laddered Overlay ETF | ||||
Actual ** | 1,000.00 | 985.60 | 0.45 | 0.50 |
Hypothetical * | 1,000.00 | 1,022.68 | 2.55 | 0.50 |
JPMorgan International Growth ETF | ||||
Actual * | 1,000.00 | 892.30 | 2.62 | 0.55 |
Hypothetical * | 1,000.00 | 1,022.43 | 2.80 | 0.55 |
JPMorgan International Value ETF | ||||
Actual *** | 1,000.00 | 958.50 | 0.71 | 0.55 |
Hypothetical * | 1,000.00 | 1,022.43 | 2.80 | 0.55 |
* | Expenses are equal to each Fund's annualized net expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). |
** | Expenses are equal to the Fund’s annualized net expense ratio, multiplied by the average account value over the period, multiplied by 33/365 (to reflect the actual period). The Fund commenced operations on September 28, 2023. |
*** | Expenses are equal to the Fund’s annualized net expense ratio, multiplied by the average account value over the period, multiplied by 48/365 (to reflect the actual period). The Fund commenced operations on September 13, 2023. |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 81 |
82 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 83 |
84 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 85 |
86 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 87 |
Qualified Dividend Income | |
JPMorgan Active China ETF | $23,005 |
JPMorgan ActiveBuilders Emerging Markets Equity ETF | 18,136,526 |
JPMorgan International Growth ETF | 688,363 |
JPMorgan International Value ETF | 790 |
Total Foreign Source Income | Total Foreign Tax Credit | |
JPMorgan Active China ETF | $260,383 | $23,005 |
JPMorgan ActiveBuilders Emerging Markets Equity ETF | 32,792,869 | 3,623,244 |
JPMorgan International Growth ETF | 1,637,811 | 140,112 |
JPMorgan International Value ETF | 55,079 | 7,548 |
88 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Fund | Ticker | Listing Exchange |
JPMorgan Social Advancement ETF | UPWD | NASDAQ Stock Market® LLC |
JPMorgan Sustainable Consumption ETF | CIRC | NASDAQ Stock Market® LLC |
1 | |
2 | |
3 | |
6 | |
9 | |
13 | |
16 | |
18 | |
28 | |
29 | |
33 | |
35 | |
36 | |
37 | |
40 |
"The strong performance of financial markets in 2023 created wider differences in equity valuations that may provide attractive opportunities for investors. Additionally, interest rate reductions next year could benefit high-quality fixed income investments.” — 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
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 1 |
2 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | 9.25% |
Market Price ** | 9.26% |
MSCI ACWI Index (net total return) | 10.50% |
Net Assets as of 10/31/2023 | $11,578,469 |
Fund Ticker | UPWD |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 3 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Microsoft Corp. | 8.8 % |
2. | RELX plc (United Kingdom) | 4.6 |
3. | UnitedHealth Group, Inc. | 4.3 |
4. | Novo Nordisk A/S, Class B (Denmark) | 4.1 |
5. | Vinci SA (France) | 3.5 |
6. | ASML Holding NV (Netherlands) | 3.2 |
7. | Mastercard, Inc., Class A | 3.0 |
8. | Visa, Inc., Class A | 2.8 |
9. | Waste Connections, Inc. | 2.5 |
10. | Vertex Pharmaceuticals, Inc. | 2.5 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
United States | 47.6% |
United Kingdom | 8.3 |
Netherlands | 6.4 |
Japan | 6.1 |
Denmark | 4.1 |
France | 3.5 |
Ireland | 2.1 |
Mexico | 2.0 |
India | 1.8 |
Germany | 1.8 |
China | 1.8 |
Portugal | 1.6 |
Switzerland | 1.4 |
Brazil | 1.3 |
Australia | 1.3 |
Hong Kong | 1.1 |
Indonesia | 1.1 |
Nigeria | 1.0 |
Peru | 1.0 |
Others (each less than 1.0%) | 2.2 |
Short-Term Investments | 2.5 |
4 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INCEPTION DATE | 1 YEAR | SINCE INCEPTION | |
JPMorgan Social Advancement ETF | |||
Net Asset Value | September 7, 2022 | 9.25 % | 6.74 % |
Market Price | 9.26 | 6.92 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 5 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | (1.22)% |
Market Price ** | (0.90)% |
MSCI ACWI Index (net total return) | 10.50% |
Net Assets as of 10/31/2023 | $10,405,748 |
Fund Ticker | CIRC |
6 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Xylem, Inc. | 3.3 % |
2. | Trane Technologies plc | 3.2 |
3. | UnitedHealth Group, Inc. | 2.9 |
4. | Autodesk, Inc. | 2.8 |
5. | Taiwan Semiconductor Manufacturing Co. Ltd., ADR (Taiwan) | 2.7 |
6. | Brambles Ltd. (Australia) | 2.5 |
7. | Ecolab, Inc. | 2.5 |
8. | NXP Semiconductors NV (China) | 2.4 |
9. | SIG Group AG (Switzerland) | 2.3 |
10. | Tetra Tech, Inc. | 2.3 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
United States | 52.7% |
Japan | 7.2 |
France | 4.1 |
Switzerland | 3.4 |
Germany | 3.4 |
United Kingdom | 3.2 |
Ireland | 2.9 |
China | 2.8 |
Taiwan | 2.7 |
Australia | 2.5 |
Canada | 2.5 |
Finland | 2.2 |
Sweden | 2.0 |
Denmark | 1.8 |
Netherlands | 1.7 |
Norway | 1.2 |
Short-Term Investments | 3.7 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 7 |
INCEPTION DATE | 1 YEAR | SINCE INCEPTION | |
JPMorgan Sustainable Consumption ETF | |||
Net Asset Value | September 7, 2022 | (1.22 )% | (2.84 )% |
Market Price | (0.90 ) | (2.31 ) |
8 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 95.1% | ||
Australia — 1.3% | ||
IDP Education Ltd. | 4,239 | 58,567 |
Stockland, REIT | 39,708 | 89,619 |
148,186 | ||
Belgium — 0.8% | ||
KBC Group NV | 1,763 | 97,026 |
Brazil — 1.3% | ||
Raia Drogasil SA | 29,128 | 149,114 |
China — 1.7% | ||
NXP Semiconductors NV | 1,152 | 198,639 |
Denmark — 4.0% | ||
Novo Nordisk A/S, Class B | 4,819 | 464,919 |
France — 3.4% | ||
Vinci SA | 3,585 | 396,409 |
Germany — 1.7% | ||
adidas AG | 1,136 | 201,990 |
Hong Kong — 1.1% | ||
AIA Group Ltd. | 14,800 | 128,520 |
India — 1.8% | ||
Apollo Hospitals Enterprise Ltd. | 1,943 | 112,505 |
HDFC Bank Ltd. | 5,360 | 95,111 |
207,616 | ||
Indonesia — 1.0% | ||
Bank Rakyat Indonesia Persero Tbk. PT | 376,200 | 117,632 |
Ireland — 2.0% | ||
Kerry Group plc, Class A | 1,250 | 96,555 |
Kingspan Group plc | 2,041 | 137,357 |
233,912 | ||
Italy — 0.5% | ||
FinecoBank Banca Fineco SpA | 5,006 | 59,054 |
Japan — 6.0% | ||
Katitas Co. Ltd. | 3,300 | 44,047 |
LITALICO, Inc. | 3,100 | 41,652 |
Recruit Holdings Co. Ltd. | 3,800 | 108,956 |
T&D Holdings, Inc. | 9,900 | 176,608 |
Tokio Marine Holdings, Inc. | 5,400 | 120,810 |
Tokyo Electron Ltd. | 1,500 | 198,207 |
690,280 | ||
Mexico — 2.0% | ||
Wal-Mart de Mexico SAB de CV | 63,621 | 227,961 |
INVESTMENTS | SHARES | VALUE($) |
Netherlands — 6.3% | ||
ASML Holding NV | 607 | 364,880 |
Koninklijke Ahold Delhaize NV | 8,075 | 239,115 |
NN Group NV | 3,770 | 120,913 |
724,908 | ||
Nigeria — 1.0% | ||
Airtel Africa plc (a) | 84,262 | 116,038 |
Peru — 1.0% | ||
Credicorp Ltd. | 909 | 113,589 |
Portugal — 1.6% | ||
Jeronimo Martins SGPS SA | 7,874 | 181,534 |
South Africa — 0.7% | ||
Vodacom Group Ltd. | 15,838 | 86,220 |
Switzerland — 1.4% | ||
DSM-Firmenich AG | 1,067 | 96,729 |
Sika AG (Registered) | 274 | 65,571 |
162,300 | ||
United Kingdom — 8.1% | ||
AstraZeneca plc | 1,122 | 140,479 |
B&M European Value Retail SA | 17,388 | 111,940 |
RELX plc | 14,728 | 514,415 |
Taylor Wimpey plc | 125,148 | 169,030 |
935,864 | ||
United States — 46.4% | ||
AbbVie, Inc. | 1,253 | 176,899 |
Analog Devices, Inc. | 842 | 132,472 |
Boston Scientific Corp. * | 5,329 | 272,792 |
Charles Schwab Corp. (The) | 2,214 | 115,217 |
CSX Corp. | 2,844 | 84,893 |
Deere & Co. | 640 | 233,830 |
Dollar General Corp. | 345 | 41,069 |
Fiserv, Inc. * | 1,134 | 128,993 |
Intuit, Inc. | 432 | 213,818 |
Intuitive Surgical, Inc. * | 460 | 120,621 |
Lam Research Corp. | 244 | 143,526 |
Mastercard, Inc., Class A | 897 | 337,586 |
Microsoft Corp. | 2,922 | 987,958 |
NIKE, Inc., Class B | 1,580 | 162,377 |
Pathward Financial, Inc. | 1,854 | 83,968 |
Roche Holding AG | 373 | 96,126 |
Skyline Champion Corp. * | 2,709 | 158,829 |
SLM Corp. | 5,463 | 71,019 |
Sun Communities, Inc., REIT | 1,509 | 167,861 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 9 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
United States — continued | ||
Thermo Fisher Scientific, Inc. | 278 | 123,646 |
Union Pacific Corp. | 720 | 149,479 |
UnitedHealth Group, Inc. | 908 | 486,288 |
Vertex Pharmaceuticals, Inc. * | 775 | 280,635 |
Visa, Inc., Class A | 1,322 | 310,802 |
Waste Connections, Inc. | 2,215 | 286,842 |
5,367,546 | ||
Total Common Stocks (Cost $10,264,740) | 11,009,257 | |
Short-Term Investments — 2.4% | ||
Investment Companies — 2.4% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 5.49% (b) (c)(Cost $277,030) | 276,958 | 277,069 |
Total Investments — 97.5% (Cost $10,541,770) | 11,286,326 | |
Other Assets Less Liabilities — 2.5% | 292,143 | |
NET ASSETS — 100.0% | 11,578,469 |
Percentages indicated are based on net assets. |
Abbreviations | |
PT | Limited liability company |
REIT | Real Estate Investment Trust |
SGPS | Holding company |
* | Non-income producing security. |
(a) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of October 31, 2023. |
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Software | 10.7 % |
Semiconductors & Semiconductor Equipment | 9.2 |
Consumer Staples Distribution & Retail | 7.4 |
Financial Services | 6.9 |
Pharmaceuticals | 6.2 |
Professional Services | 5.5 |
Health Care Providers & Services | 5.3 |
Banks | 5.0 |
Insurance | 4.8 |
Biotechnology | 4.1 |
Construction & Engineering | 3.5 |
Health Care Equipment & Supplies | 3.5 |
Textiles, Apparel & Luxury Goods | 3.2 |
Household Durables | 2.9 |
Commercial Services & Supplies | 2.5 |
Ground Transportation | 2.1 |
Machinery | 2.1 |
Wireless Telecommunication Services | 1.8 |
Residential REITs | 1.5 |
Chemicals | 1.4 |
Building Products | 1.2 |
Life Sciences Tools & Services | 1.1 |
Capital Markets | 1.0 |
Broadline Retail | 1.0 |
Others (each less than 1.0%) | 3.6 |
Short-Term Investments | 2.5 |
10 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 95.7% | ||
Australia — 2.5% | ||
Brambles Ltd. | 31,044 | 259,086 |
Canada — 2.5% | ||
RB Global, Inc. | 1,623 | 106,210 |
West Fraser Timber Co. Ltd. | 2,217 | 149,623 |
255,833 | ||
China — 2.8% | ||
Chacha Food Co. Ltd., Class A | 8,400 | 42,368 |
NXP Semiconductors NV | 1,416 | 244,161 |
286,529 | ||
Denmark — 1.8% | ||
Novo Nordisk A/S, Class B | 1,942 | 187,357 |
Finland — 2.2% | ||
UPM-Kymmene OYJ | 6,823 | 229,771 |
France — 4.0% | ||
Dassault Systemes SE | 3,466 | 142,776 |
Legrand SA | 1,731 | 149,742 |
SPIE SA | 4,889 | 128,569 |
421,087 | ||
Germany — 3.4% | ||
GEA Group AG | 2,214 | 75,720 |
Infineon Technologies AG | 6,058 | 176,955 |
Siemens AG (Registered) | 733 | 97,268 |
349,943 | ||
Ireland — 2.9% | ||
Kerry Group plc, Class A | 1,865 | 144,060 |
Kingspan Group plc | 2,387 | 160,642 |
304,702 | ||
Japan — 7.1% | ||
FANUC Corp. | 6,100 | 151,380 |
Hitachi Ltd. | 2,400 | 152,128 |
Keyence Corp. | 500 | 193,559 |
Kubota Corp. | 5,600 | 75,316 |
Kurita Water Industries Ltd. | 2,300 | 69,882 |
Topcon Corp. | 10,900 | 99,395 |
741,660 | ||
Netherlands — 1.7% | ||
ASML Holding NV | 298 | 179,134 |
INVESTMENTS | SHARES | VALUE($) |
Norway — 1.2% | ||
Norsk Hydro ASA | 15,451 | 88,113 |
TOMRA Systems ASA | 4,095 | 32,458 |
120,571 | ||
Sweden — 2.0% | ||
Atlas Copco AB, Class A | 8,787 | 113,783 |
Boliden AB | 3,490 | 89,460 |
203,243 | ||
Switzerland — 3.4% | ||
SIG Group AG | 11,064 | 243,925 |
Sika AG (Registered) | 465 | 111,279 |
355,204 | ||
Taiwan — 2.7% | ||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 3,279 | 283,010 |
United Kingdom — 3.2% | ||
CNH Industrial NV | 11,511 | 126,391 |
Tate & Lyle plc | 26,799 | 205,372 |
331,763 | ||
United States — 52.3% | ||
Advanced Drainage Systems, Inc. | 1,326 | 141,657 |
AGCO Corp. | 1,033 | 118,444 |
Airbnb, Inc., Class A * | 1,031 | 121,957 |
Autodesk, Inc. * | 1,479 | 292,295 |
Badger Meter, Inc. | 354 | 49,047 |
Boston Scientific Corp. * | 2,281 | 116,764 |
Cadence Design Systems, Inc. * | 706 | 169,334 |
Carrier Global Corp. | 4,872 | 232,200 |
Danaher Corp. | 972 | 186,643 |
Darling Ingredients, Inc. * | 2,613 | 115,730 |
Deere & Co. | 626 | 228,715 |
Dover Corp. | 1,393 | 181,020 |
Ecolab, Inc. | 1,538 | 257,984 |
Elevance Health, Inc. | 292 | 131,426 |
Hologic, Inc. * | 1,766 | 116,856 |
Intuitive Surgical, Inc. * | 473 | 124,030 |
LKQ Corp. | 2,459 | 107,999 |
Rayonier, Inc., REIT | 4,117 | 103,913 |
Roche Holding AG | 788 | 203,075 |
Rockwell Automation, Inc. | 389 | 102,233 |
Schneider Electric SE | 1,063 | 163,550 |
Sprouts Farmers Market, Inc. * | 2,002 | 84,124 |
Tetra Tech, Inc. | 1,557 | 234,967 |
Trane Technologies plc | 1,747 | 332,472 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 11 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
United States — continued | ||
Trex Co., Inc. * | 2,415 | 135,747 |
Trimble, Inc. * | 4,576 | 215,667 |
UnitedHealth Group, Inc. | 553 | 296,165 |
Valmont Industries, Inc. | 460 | 90,579 |
Veralto Corp. * | 323 | 22,287 |
Watts Water Technologies, Inc., Class A | 319 | 55,190 |
Weyerhaeuser Co., REIT | 8,071 | 231,557 |
Xylem, Inc. | 3,657 | 342,076 |
Zoetis, Inc. | 891 | 139,887 |
5,445,590 | ||
Total Common Stocks (Cost $10,345,701) | 9,954,483 | |
Short-Term Investments — 3.6% | ||
Investment Companies — 3.6% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 5.49% (a) (b)(Cost $380,064) | 379,952 | 380,104 |
Total Investments — 99.3% (Cost $10,725,765) | 10,334,587 | |
Other Assets Less Liabilities — 0.7% | 71,161 | |
NET ASSETS — 100.0% | 10,405,748 |
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 October 31, 2023. |
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Machinery | 15.2 % |
Building Products | 9.7 |
Semiconductors & Semiconductor Equipment | 8.5 |
Commercial Services & Supplies | 7.1 |
Software | 5.9 |
Electronic Equipment, Instruments & Components | 5.4 |
Pharmaceuticals | 5.1 |
Food Products | 4.9 |
Health Care Providers & Services | 4.1 |
Electrical Equipment | 4.0 |
Paper & Forest Products | 3.7 |
Chemicals | 3.6 |
Health Care Equipment & Supplies | 3.5 |
Specialized REITs | 3.2 |
Industrial Conglomerates | 2.4 |
Containers & Packaging | 2.4 |
Life Sciences Tools & Services | 1.8 |
Metals & Mining | 1.7 |
Hotels, Restaurants & Leisure | 1.2 |
Distributors | 1.0 |
Others (each less than 1.0%) | 1.9 |
Short-Term Investments | 3.7 |
12 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
JPMorgan Social Advancement ETF | JPMorgan Sustainable Consumption ETF | |
ASSETS: | ||
Investments in non-affiliates, at value | $11,009,257 | $9,954,483 |
Investments in affiliates, at value | 277,069 | 380,104 |
Cash | 52,083 | 47,538 |
Foreign currency, at value | 2,136 | 3,390 |
Receivables: | ||
Investment securities sold | 293,754 | 3,493 |
Dividends from non-affiliates | 16,146 | 12,106 |
Dividends from affiliates | 41 | 58 |
Tax reclaims | 3,987 | 4,274 |
Due from adviser | — | 302 |
Total Assets | 11,654,473 | 10,405,748 |
LIABILITIES: | ||
Payables: | ||
Investment securities purchased | 75,902 | — |
Accrued liabilities: | ||
Management fees (See Note 3.A.) | 102 | — |
Total Liabilities | 76,004 | — |
Net Assets | $11,578,469 | $10,405,748 |
NET ASSETS: | ||
Paid-in-Capital | $10,723,102 | $10,721,311 |
Total distributable earnings (loss) | 855,367 | (315,563 ) |
Total Net Assets | $11,578,469 | $10,405,748 |
Outstanding number of shares (unlimited number of shares authorized - par value $0.0001) | 225,000 | 225,000 |
Net asset value, per share | $51.46 | $46.25 |
Cost of investments in non-affiliates | $10,264,740 | $10,345,701 |
Cost of investments in affiliates | 277,030 | 380,064 |
Cost of foreign currency | 2,127 | 3,425 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 13 |
JPMorgan Social Advancement ETF | JPMorgan Sustainable Consumption ETF | |
INVESTMENT INCOME: | ||
Interest income from non-affiliates | $9 | $31 |
Interest income from affiliates | 831 | 821 |
Dividend income from non-affiliates | 224,200 | 181,592 |
Dividend income from affiliates | 11,190 | 6,769 |
Foreign taxes withheld (net) | (19,499 ) | (14,064 ) |
Total investment income | 216,731 | 175,149 |
EXPENSES: | ||
Management fees (See Note 3.A.) | 57,523 | 55,778 |
Interest expense to affiliates | 1 | 3 |
Total expenses | 57,524 | 55,781 |
Net investment income (loss) | 159,207 | 119,368 |
REALIZED/UNREALIZED GAINS (LOSSES): | ||
Net realized gain (loss) on transactions from: | ||
Investments in non-affiliates | 37,383 | (26,107 ) |
Investments in affiliates | (75 ) | (24 ) |
Foreign currency transactions | 3,252 | 589 |
Net realized gain (loss) | 40,560 | (25,542 ) |
Change in net unrealized appreciation/depreciation on: | ||
Investments in non-affiliates | 785,949 | (219,746 ) |
Investments in affiliates | 111 | 128 |
Foreign currency translations | (10 ) | (36 ) |
Change in net unrealized appreciation/depreciation | 786,050 | (219,654 ) |
Net realized/unrealized gains (losses) | 826,610 | (245,196 ) |
Change in net assets resulting from operations | $985,817 | $(125,828 ) |
14 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
JPMorgan Social Advancement ETF | JPMorgan Sustainable Consumption ETF | |||
Year Ended October 31, 2023 | Period Ended October 31, 2022 (a) | Year Ended October 31, 2023 | Period Ended October 31, 2022 (a) | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $159,207 | $14,136 | $119,368 | $9,414 |
Net realized gain (loss) | 40,560 | (42,592 ) | (25,542 ) | 16,687 |
Change in net unrealized appreciation/depreciation | 786,050 | (41,602 ) | (219,654 ) | (171,673 ) |
Change in net assets resulting from operations | 985,817 | (70,058 ) | (125,828 ) | (145,572 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Total distributions to shareholders | (60,392 ) | — | (44,163 ) | — |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | — | 10,723,102 | — | 10,721,311 |
NET ASSETS: | ||||
Change in net assets | 925,425 | 10,653,044 | (169,991 ) | 10,575,739 |
Beginning of period | 10,653,044 | — | 10,575,739 | — |
End of period | $11,578,469 | $10,653,044 | $10,405,748 | $10,575,739 |
CAPITAL TRANSACTIONS: | ||||
Proceeds from shares issued | $— | $10,723,102 | $— | $10,721,311 |
Total change in net assets resulting from capital transactions | $— | $10,723,102 | $— | $10,721,311 |
SHARE TRANSACTIONS: | ||||
Issued | — | 225,000 | — | 225,000 |
Net increase in shares from transactions | — | 225,000 | — | 225,000 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 15 |
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 Social Advancement ETF | |||||
Year Ended October 31, 2023 | $47.35 | $0.71 | $3.67 | $4.38 | $(0.27 ) |
September 7, 2022 (f) through October 31, 2022 | 48.00 | 0.07 | (0.72 ) | (0.65 ) | — |
JPMorgan Sustainable Consumption ETF | |||||
Year Ended October 31, 2023 | 47.00 | 0.53 | (1.08 ) | (0.55 ) | (0.20 ) |
September 7, 2022 (f) through October 31, 2022 | 48.00 | 0.04 | (1.04 ) | (1.00 ) | — |
(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 the 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. |
16 | J.P. Morgan Exchange-Traded Funds | October 31, 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) |
$51.46 | $51.55 | 9.27 % | 9.26 % | $11,578,469 | 0.49 % | 1.35 % | 27 % |
47.35 | 47.44 | (1.35 ) | (1.17 )(g) | 10,653,044 | 0.49 | 1.00 | 6 |
46.25 | 46.54 | (1.20 ) | (0.90 ) | 10,405,748 | 0.49 | 1.05 | 37 |
47.00 | 47.15 | (2.08 ) | (1.77 )(g) | 10,575,739 | 0.49 | 0.66 | 1 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 17 |
Diversification Classification | |
JPMorgan Social Advancement ETF | Non-Diversified |
JPMorgan Sustainable Consumption ETF | Non-Diversified |
Listing Exchange | |
Social Advancement ETF | NASDAQ Stock Market® LLC |
Sustainable Consumption ETF | NASDAQ Stock Market® LLC |
18 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
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 | $— | $148,186 | $— | $148,186 |
Belgium | — | 97,026 | — | 97,026 |
Brazil | 149,114 | — | — | 149,114 |
China | 198,639 | — | — | 198,639 |
Denmark | — | 464,919 | — | 464,919 |
France | — | 396,409 | — | 396,409 |
Germany | — | 201,990 | — | 201,990 |
Hong Kong | — | 128,520 | — | 128,520 |
India | — | 207,616 | — | 207,616 |
Indonesia | — | 117,632 | — | 117,632 |
Ireland | — | 233,912 | — | 233,912 |
Italy | — | 59,054 | — | 59,054 |
Japan | — | 690,280 | — | 690,280 |
Mexico | 227,961 | — | — | 227,961 |
Netherlands | — | 724,908 | — | 724,908 |
Nigeria | 116,038 | — | — | 116,038 |
Peru | 113,589 | — | — | 113,589 |
Portugal | — | 181,534 | — | 181,534 |
South Africa | 86,220 | — | — | 86,220 |
Switzerland | — | 162,300 | — | 162,300 |
United Kingdom | — | 935,864 | — | 935,864 |
United States | 5,271,420 | 96,126 | — | 5,367,546 |
Total Common Stocks | 6,162,981 | 4,846,276 | — | 11,009,257 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 19 |
Social Advancement ETF (continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Short-Term Investments | ||||
Investment Companies | $277,069 | $— | $— | $277,069 |
Total Investments in Securities | $6,440,050 | $4,846,276 | $— | $11,286,326 |
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 | $— | $259,086 | $— | $259,086 |
Canada | 255,833 | — | — | 255,833 |
China | 244,161 | 42,368 | — | 286,529 |
Denmark | — | 187,357 | — | 187,357 |
Finland | — | 229,771 | — | 229,771 |
France | — | 421,087 | — | 421,087 |
Germany | — | 349,943 | — | 349,943 |
Ireland | — | 304,702 | — | 304,702 |
Japan | — | 741,660 | — | 741,660 |
Netherlands | — | 179,134 | — | 179,134 |
Norway | — | 120,571 | — | 120,571 |
Sweden | — | 203,243 | — | 203,243 |
Switzerland | — | 355,204 | — | 355,204 |
Taiwan | 283,010 | — | — | 283,010 |
United Kingdom | 331,763 | — | — | 331,763 |
United States | 5,078,965 | 366,625 | — | 5,445,590 |
Total Common Stocks | 6,193,732 | 3,760,751 | — | 9,954,483 |
Short-Term Investments | ||||
Investment Companies | 380,104 | — | — | 380,104 |
Total Investments in Securities | $6,573,836 | $3,760,751 | $— | $10,334,587 |
20 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Social Advancement ETF | |||||||||
For the year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 5.49% (a) (b) | $421,937 | $730,961 | $875,865 | $(75 ) | $111 | $277,069 | 276,958 | $11,190 | $— |
(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 October 31, 2023. |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 21 |
Sustainable Consumption ETF | |||||||||
For the year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 5.49% (a) (b) | $295,959 | $952,966 | $868,925 | $(24 ) | $128 | $380,104 | 379,952 | $6,769 | $— |
(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 October 31, 2023. |
22 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Paid-in-Capital | Accumulated undistributed (distributions in excess of) net investment income | Accumulated net realized gains (losses) | |
Social Advancement ETF | $— | $3,253 | $(3,253 ) |
Sustainable Consumption ETF | — | 589 | (589 ) |
Social Advancement ETF | 0.49 % |
Sustainable Consumption ETF | 0.49 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 23 |
Purchases (excluding U.S. Government) | Sales (excluding U.S. Government) | |
Social Advancement ETF | $3,118,930 | $3,100,266 |
Sustainable Consumption ETF | 4,084,213 | 4,084,954 |
Aggregate Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | |
Social Advancement ETF | $10,541,770 | $1,245,264 | $500,708 | $744,556 |
Sustainable Consumption ETF | 10,727,936 | 506,817 | 900,166 | (393,349 ) |
Ordinary Income* | Total Distributions Paid | |
Social Advancement ETF | $60,392 | $60,392 |
Sustainable Consumption ETF | 44,163 | 44,163 |
* | Short-term gain distributions are treated as ordinary income for income tax purposes. |
24 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Current Distributable Ordinary Income | Current Distributable Long-Term Capital Gain (Tax Basis Capital Loss Carryover) | Unrealized Appreciation (Depreciation) | |
Social Advancement ETF | $143,551 | $(24,720 ) | $744,448 |
Sustainable Consumption ETF | 114,971 | (29,124 ) | (393,498 ) |
Capital Loss Carryforward Character | ||
Short-Term | Long-Term | |
Social Advancement ETF | $24,720 | $— |
Sustainable Consumption ETF | 7,409 | 21,715 |
Capital Loss Utilized | |
Short-Term | |
Social Advancement ETF | $37,307 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 25 |
% of Ownership | |
Social Advancement ETF | 89 % |
Sustainable Consumption ETF | 89 |
26 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 27 |
28 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Name (Year of Birth); Positions With the Funds (1) | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee (2) | Other Directorships Held During the Past 5 Years |
Independent Trustees | |||
John F. Finn (1947); Chair since 2020; Trustee since 1998. | Chairman, Gardner, Inc. (supply chain management company serving industrial and consumer markets) (serving in various roles 1974-present). | 170 | Director, Greif, Inc. (GEF) (industrial package products and services) (2007-present); Trustee, Columbus Association for the Performing Arts (1988-present). |
Stephen P. Fisher (1959); Trustee since 2018. | Retired; Chairman and Chief Executive Officer, NYLIFE Distributors LLC (registered broker-dealer) (serving in various roles 2008-2013); Chairman, NYLIM Service Company LLC (transfer agent) (2008-2017); New York Life Investment Management LLC (registered investment adviser) (serving in various roles 2005-2017); Chairman, IndexIQ Advisors LLC (registered investment adviser for ETFs) (2014-2017); President, MainStay VP Funds Trust (2007-2017), MainStay DefinedTerm Municipal Opportunities Fund (2011-2017) and MainStay Funds Trust (2007-2017) (registered investment companies). | 170 | Honors Program Advisory Board Member, The Zicklin School of Business, Baruch College, The City University of New York (2017-present). |
Gary L. French (1951); Trustee since 2014. | Real Estate Investor (2011-2020); Investment management industry Consultant and Expert Witness (2011-present); Senior Consultant for The Regulatory Fundamentals Group LLC (2011-2017). | 170 | Independent Trustee, The China Fund, Inc. (2013-2019); Exchange Traded Concepts Trust II (2012-2014); Exchange Traded Concepts Trust I (2011-2014). |
Kathleen M. Gallagher (1958); Trustee since 2018. | Retired; Chief Investment Officer — Benefit Plans, Ford Motor Company (serving in various roles 1985-2016). | 170 | Non- Executive Director, Legal & General Investment Management (Holdings) (2018-present); Non-Executive Director, Legal & General Investment Management America (U.S. Holdings) (financial services and insurance) (2017-present); Advisory Board Member, State Street Global Advisors Total Portfolio Solutions (2017-present); Member, Client Advisory Council, Financial Engines, LLC (registered investment adviser) (2011-2016); Director, Ford Pension Funds Investment Management Ltd. (2007-2016). |
Robert J. Grassi (1957); Trustee since 2014. | Sole Proprietor, Academy Hills Advisors LLC (2012-present); Pension Director, Corning Incorporated (2002-2012). | 170 | None |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 29 |
Name (Year of Birth); Positions With the Funds (1) | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee (2) | Other Directorships Held During the Past 5 Years |
Independent Trustees (continued) | |||
Frankie D. Hughes (1952); Trustee since 2008. | President, Ashland Hughes Properties (property management) (2014-present); President and Chief Investment Officer, Hughes Capital Management, Inc. (fixed income asset management) (1993-2014). | 170 | None |
Raymond Kanner (1953); Trustee since 2017. | Retired; Managing Director and Chief Investment Officer, IBM Retirement Funds (2007-2016). | 170 | Advisory Board Member, Penso Advisors, LLC (2020-present); Advisory Board Member, Los Angeles Capital (2018-present); Advisory Board Member, State Street Global Advisors Total Portfolio Solutions (2017- present); Acting Executive Director, Committee on Investment of Employee Benefit Assets (CIEBA) (2016-2017); Advisory Board Member, Betterment for Business (robo advisor) (2016- 2017); Advisory Board Member, BlueStar Indexes (index creator) (2013-2017); Director, Emerging Markets Growth Fund (registered investment company) (1997-2016); Member, Russell Index Client Advisory Board (2001-2015). |
Thomas P. Lemke (1954); Trustee since 2014. | Retired since 2013. | 170 | (1) Independent Trustee of Advisors’ Inner Circle III fund platform, consisting of the following: (i) the Advisors’ Inner Circle Fund III, (ii) the Gallery Trust, (iii) the Schroder Series Trust, (iv) the Delaware Wilshire Private Markets Fund (since 2020), (v) Chiron Capital Allocation Fund Ltd., and (vi) formerly the Winton Diversified Opportunities Fund (2014-2018); and (2) Independent Trustee of the Symmetry Panoramic Trust (since 2018). |
Lawrence R. Maffia (1950); Trustee since 2014. | Retired; Director and President, ICI Mutual Insurance Company (2006-2013). | 170 | Director, ICI Mutual Insurance Company (1999-2013). |
Mary E. Martinez (1960); Vice Chair since 2021; Trustee since 2013. | Associate, Special Properties, a Christie’s International Real Estate Affiliate (2010-present); Managing Director, Bank of America (asset management) (2007-2008); Chief Operating Officer, U.S. Trust Asset Management, U.S. Trust Company (asset management) (2003-2007); President, Excelsior Funds (registered investment companies) (2004-2005). | 170 | None |
Marilyn McCoy (1948); Trustee since 1999. | Retired; Vice President of Administration and Planning, Northwestern University (1985-2023). | 170 | None |
30 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Name (Year of Birth); Positions With the Funds (1) | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee (2) | Other Directorships Held During the Past 5 Years |
Independent Trustees (continued) | |||
Dr. Robert A. Oden, Jr. (1946); Trustee since 1997. | Retired; President, Carleton College (2002-2010); President, Kenyon College (1995-2002). | 170 | Trustee, The Coldwater Conservation Fund (2017-present); Trustee, American Museum of Fly Fishing (2013-present); Trustee and Vice Chair, Trout Unlimited (2017-2021); Trustee, Dartmouth- Hitchcock Medical Center (2011-2020). |
Marian U. Pardo* (1946); Trustee since 2013. | Managing Director and Founder, Virtual Capital Management LLC (investment consulting) (2007-present); Managing Director, Credit Suisse Asset Management (portfolio manager) (2003-2006). | 170 | Board Chair and Member, Board of Governors, Columbus Citizens Foundation (not-for-profit supporting philanthropic and cultural programs) (2006-present). |
Emily A. Youssouf (1951); Trustee since 2014. | Adjunct Professor (2011-present) and Clinical Professor (2009-2011), NYU Schack Institute of Real Estate; Board Member and Member of the Audit Committee (2013–present), Chair of Finance Committee (2019-present), Member of Related Parties Committee (2013-2018) and Member of the Enterprise Risk Committee (2015-2018), PennyMac Financial Services, Inc.; Board Member (2005-2018), Chair of Capital Committee (2006-2016), Chair of Audit Committee (2005-2018), Member of Finance Committee (2005-2018) and Chair of IT Committee (2016-2018), NYC Health and Hospitals Corporation. | 170 | Trustee, NYC School Construction Authority (2009-present); Board Member, NYS Job Development Authority (2008-present); Trustee and Chair of the Audit Committee of the Transit Center Foundation (2015-2019). |
Interested Trustees | |||
Robert F. Deutsch** (1957); Trustee since 2014. | Retired; Head of ETF Business for JPMorgan Asset Management (2013-2017); Head of Global Liquidity Business for JPMorgan Asset Management (2003-2013). | 170 | Treasurer and Director of the JUST Capital Foundation (2017-present). |
Nina O. Shenker** (1957); Trustee since 2022. | Vice Chair (2017-2021), General Counsel and Managing Director (2008-2016), Associate General Counsel and Managing Director (2004-2008), J.P. Morgan Asset & Wealth Management. | 170 | Director and Member of Legal and Human Resources Subcommittees, American Jewish Joint Distribution Committee (2018-present). |
(1) | The year shown is the first year in which a Trustee became a member of any of the following: the JPMorgan Mutual Fund Board, the JPMorgan ETF Board, the heritage J.P. Morgan Funds or the heritage One Group Mutual Funds. Trustees serve an indefinite term, until resignation, retirement, removal or death. The Board's current retirement policy sets retirement at the end of the calendar year in which the Trustee attains the age of 75, provided that any Board member who was a member of the JPMorgan Mutual Fund Board prior to January 1, 2022 and was born prior to January 1, 1950 shall retire from the Board at the end of the calendar year in which the Trustee attains the age of 78. | ||
(2) | A Fund Complex means two or more registered investment companies that hold themselves out to investors as related companies for purposes of investment and investor services or have a common investment adviser or have an investment adviser that is an affiliated person of the investment adviser of any of the other registered investment companies. The J.P. Morgan Funds Complex for which the Board of Trustees serves currently includes nine registered investment companies (170 J.P. Morgan Funds). | ||
* | In connection with prior employment with JPMorgan Chase, Ms. Pardo was the recipient of non-qualified pension plan payments from JPMorgan Chase in the amount of approximately $2,055 per month, which she irrevocably waived effective January 1, 2013, and deferred compensation payments from JPMorgan Chase in the amount of approximately $7,294 per year, which ended in January 2013. In addition, Ms. Pardo receives payments from a fully-funded qualified plan, which is not an obligation of JPMorgan Chase. |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 31 |
** | Designation as an “Interested Trustee” is based on prior employment by the Adviser or an affiliate of the Adviser or interests in a control person of the Adviser. | ||
The contact address for each of the Trustees is 277 Park Avenue, New York, NY 10172. |
32 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Name (Year of Birth), Positions Held with the Trust (Since) | Principal Occupations During Past 5 Years |
Brian S. Shlissel (1964), President and Principal Executive Officer (2021) | Managing Director and Chief Administrative Officer for J.P. Morgan pooled vehicles, J.P. Morgan Investment Management Inc. since 2014. |
Timothy J. Clemens (1975), Treasurer and Principal Financial Officer (2020) | Managing Director, J.P. Morgan Investment Management Inc. Mr. Clemens has been with J.P. Morgan Investment Management Inc. since 2013. |
Gregory S. Samuels (1980), Secretary (2022) (formerly Assistant Secretary 2014-2022) | Managing Director and Assistant General Counsel, JPMorgan Chase & Co. Mr. Samuels has been with JPMorgan Chase & Co. since 2010. |
Stephen M. Ungerman (1953), Chief Compliance Officer (2014) | Managing Director, JPMorgan Chase & Co. Mr. Ungerman has been with JPMorgan Chase & Co. since 2000. |
Kiesha Astwood-Smith (1973), Assistant Secretary (2021) | Vice President and Assistant General Counsel, JPMorgan Chase & Co. since June 2021; Senior Director and Counsel, Equitable Financial Life Insurance Company (formerly, AXA Equitable Life Insurance Company) from September 2015 through June 2021. |
Matthew Beck (1988), Assistant Secretary (2021)* | Vice President and Assistant General Counsel, JPMorgan Chase & Co. since May 2021; Senior Legal Counsel, Ultimus Fund Solutions from May 2018 through May 2021; General Counsel, The Nottingham Company from April 2014 through May 2018. |
Elizabeth A. Davin (1964), Assistant Secretary (2022) (formerly Secretary 2018-2022)* | Executive Director and Assistant General Counsel, JPMorgan Chase & Co. Ms. Davin has been with JPMorgan Chase & Co. (formerly Bank One Corporation) since 2004. |
Jessica K. Ditullio (1962), Assistant Secretary (2014)* | Executive Director and Assistant General Counsel, JPMorgan Chase & Co. Ms. Ditullio has been with JPMorgan Chase & Co. (formerly Bank One Corporation) since 1990. |
Anthony Geron (1971), Assistant Secretary (2019) | Vice President and Assistant General Counsel, JPMorgan Chase & Co. since September 2018; Lead Director and Counsel, AXA Equitable Life Insurance Company from 2015 to 2018 and Senior Director and Counsel, AXA Equitable Life Insurance Company from 2014 to 2015. |
Carmine Lekstutis (1980), Assistant Secretary (2014) | Executive Director and Assistant General Counsel, JPMorgan Chase & Co. Mr. Lekstutis has been with JPMorgan Chase & Co. since 2011. |
Max Vogel (1990), Assistant Secretary (2021) | Vice President and Assistant General Counsel, JPMorgan Chase & Co. since June 2021; Associate, Proskauer Rose LLP (law firm) from March 2017 to June 2021. |
Zachary E. Vonnegut-Gabovitch (1986), Assistant Secretary (2017) | Executive Director and Assistant General Counsel, JPMorgan Chase & Co. Mr. Vonnegut-Gabovitch has been with JPMorgan Chase & Co. since September 2016. |
Frederick J. Cavaliere (1978), Assistant Treasurer (2015)** | Executive Director, J.P. Morgan Investment Management Inc. Mr. Cavaliere has been with JPMorgan Chase & Co. since May 2006. |
Michael M. D’Ambrosio (1969), Assistant Treasurer (2014) | Managing Director, J.P. Morgan Investment Management Inc. Mr. D’Ambrosio has been with J.P. Morgan Investment Management Inc. since 2012. |
Aleksandr Fleytekh (1972), Assistant Treasurer (2023) | Executive Director, J.P. Morgan Investment Management Inc. Mr. Fleytekh has been with J.P. Morgan Investment Management Inc. since February 2012. |
Shannon Gaines (1977), Assistant Treasurer (2019)* | Executive Director, J.P. Morgan Investment Management Inc. Mr. Gaines has been with J.P. Morgan Investment Management Inc. since January 2014. |
Jeffrey D. House (1972), Assistant Treasurer (2023)* | Vice President, J.P. Morgan Investment Management Inc. Mr. House has been with J.P. Morgan Investment Management Inc. since July 2006. |
Michael Mannarino (1985), Assistant Treasurer (2023) | Vice President, J.P. Morgan Investment Management Inc. Mr. Mannarino has been with J.P. Morgan Investment Management Inc. since 2014. |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 33 |
Nektarios E. Manolakakis (1972), Assistant Treasurer (2020) | Executive Director, J.P. Morgan Investment Management Inc. since February 2021, formerly Vice President, J.P. Morgan Investment Management Inc. since 2014; Vice President, J.P. Morgan Corporate & Investment Bank 2010-2014. |
Todd McEwen (1981), Assistant Treasurer (2020)* | Vice President, J.P. Morgan Investment Management Inc. Mr. McEwen has been with J.P. Morgan Investment Management Inc. since 2010. |
Joseph Parascondola (1963), Assistant Treasurer (2023)** | Executive Director, J.P. Morgan Investment Management Inc. Mr. Parascondola has been with J.P. Morgan Investment Management Inc. since 2006. |
Gillian I. Sands (1969), Assistant Treasurer (2023) | Executive Director, J.P. Morgan Investment Management Inc. Ms. Sands has been with J.P. Morgan Investment Management Inc. since September 2012. |
The contact address for each of the officers, unless otherwise noted, is 277 Park Avenue, New York, NY 10172. | |
* | The contact address for the officer is 1111 Polaris Parkway, Columbus, OH 43240. |
** | The contact address for the officer is 575 Washington Boulevard, Jersey City, NJ 07310. |
34 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Beginning Account Value May 1, 2023 | Ending Account Value October 31, 2023 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan Social Advancement ETF | ||||
Actual | $1,000.00 | $955.30 | $2.41 | 0.49 % |
Hypothetical | 1,000.00 | 1,022.73 | 2.50 | 0.49 |
JPMorgan Sustainable Consumption ETF | ||||
Actual | 1,000.00 | 903.80 | 2.35 | 0.49 |
Hypothetical | 1,000.00 | 1,022.73 | 2.50 | 0.49 |
* | Expenses are equal to each Fund's annualized net expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 35 |
36 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 37 |
38 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 39 |
Dividends Received Deduction | |
JPMorgan Social Advancement ETF | 84.65 % |
JPMorgan Sustainable Consumption ETF | 100.00 |
Qualified Dividend Income | |
JPMorgan Social Advancement ETF | $60,392 |
JPMorgan Sustainable Consumption ETF | 44,163 |
40 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Fund | Ticker | Listing Exchange |
JPMorgan Climate Change Solutions ETF | TEMP | NYSE Arca, Inc. |
JPMorgan Sustainable Infrastructure ETF | BLLD | NASDAQ Stock Market® LLC |
1 | |
2 | |
3 | |
6 | |
9 | |
13 | |
16 | |
18 | |
28 | |
29 | |
33 | |
35 | |
36 | |
37 | |
40 |
"The strong performance of financial markets in 2023 created wider differences in equity valuations that may provide attractive opportunities for investors. Additionally, interest rate reductions next year could benefit high-quality fixed income investments.” — 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
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 1 |
2 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | (2.77)% |
Market Price ** | (3.04)% |
MSCI ACWI Index (net total return) | 10.50% |
Net Assets as of 10/31/2023 | $18,812,513 |
Fund Ticker | TEMP |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 3 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Iberdrola SA (Spain) | 5.0 % |
2. | Xylem, Inc. | 4.7 |
3. | Schneider Electric SE | 3.8 |
4. | Trane Technologies plc | 3.7 |
5. | Dassault Systemes SE (France) | 3.7 |
6. | Prysmian SpA (Italy) | 3.6 |
7. | Quanta Services, Inc. | 3.5 |
8. | Autodesk, Inc. | 3.3 |
9. | Hitachi Ltd. (Japan) | 3.4 |
10. | Keyence Corp. (Japan) | 3.3 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
United States | 47.8% |
Japan | 6.9 |
Switzerland | 6.0 |
Spain | 5.7 |
Germany | 5.6 |
France | 5.5 |
United Kingdom | 5.4 |
Italy | 3.6 |
Ireland | 2.8 |
Finland | 2.3 |
Netherlands | 2.2 |
Canada | 1.8 |
Sweden | 1.1 |
Others (each less than 1.0%) | 2.2 |
Short-Term Investments | 1.1 |
4 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INCEPTION DATE | 1 YEAR | SINCE INCEPTION | |
JPMorgan Climate Change Solutions ETF | |||
Net Asset Value | December 13, 2021 | (2.77 )% | (15.97 )% |
Market Price | (3.04 ) | (15.90 ) |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 5 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | (0.59)% |
Market Price ** | (0.68)% |
MSCI ACWI Index (net total return) | 10.50% |
Net Assets as of 10/31/2023 | $22,253,121 |
Fund Ticker | BLLD |
6 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | SSE plc (United Kingdom) | 4.5 % |
2. | Engie SA (France) | 4.3 |
3. | Union Pacific Corp. | 3.8 |
4. | Canadian National Railway Co. (Canada) | 3.5 |
5. | Digital Realty Trust, Inc. | 3.2 |
6. | Sabra Health Care REIT, Inc. | 3.1 |
7. | NARI Technology Co. Ltd., Class A (China) | 2.9 |
8. | Physicians Realty Trust | 2.8 |
9. | LondonMetric Property plc (United Kingdom) | 2.5 |
10. | Assura plc (United Kingdom) | 2.4 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
United States | 38.2% |
United Kingdom | 16.2 |
France | 8.9 |
Spain | 8.8 |
Italy | 4.5 |
China | 4.3 |
Canada | 3.5 |
Germany | 3.3 |
Brazil | 2.3 |
Australia | 2.2 |
Belgium | 1.6 |
Singapore | 1.2 |
Portugal | 1.0 |
Others (each less than 1.0%) | 1.6 |
Short-Term Investments | 2.4 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 7 |
INCEPTION DATE | 1 YEAR | SINCE INCEPTION | |
JPMorgan Sustainable Infrastructure ETF | |||
Net Asset Value | September 7, 2022 | (0.59 )% | (9.68 )% |
Market Price | (0.68 ) | (9.57 ) |
8 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 97.5% | ||
Canada — 1.8% | ||
West Fraser Timber Co. Ltd. | 4,944 | 333,664 |
China — 0.9% | ||
Contemporary Amperex Technology Co. Ltd., Class A | 3,320 | 84,022 |
NARI Technology Co. Ltd., Class A | 27,320 | 84,072 |
168,094 | ||
Denmark — 0.3% | ||
Orsted A/S (a) | 540 | 26,092 |
Vestas Wind Systems A/S * | 1,775 | 38,473 |
64,565 | ||
Finland — 2.3% | ||
UPM-Kymmene OYJ | 12,760 | 429,705 |
France — 5.4% | ||
Dassault Systemes SE | 16,770 | 690,813 |
Neoen SA (a) | 1,446 | 38,184 |
Nexans SA | 1,043 | 73,885 |
SPIE SA | 8,086 | 212,642 |
1,015,524 | ||
Germany — 5.5% | ||
Encavis AG * | 2,878 | 37,583 |
Infineon Technologies AG | 6,427 | 187,734 |
Mercedes-Benz Group AG | 5,922 | 348,417 |
Siemens AG (Registered) | 3,496 | 463,915 |
1,037,649 | ||
Ireland — 2.8% | ||
Kingspan Group plc | 7,743 | 521,095 |
Italy — 3.6% | ||
Prysmian SpA | 17,876 | 669,403 |
Japan — 6.8% | ||
Hitachi Ltd. | 9,800 | 621,189 |
Keyence Corp. | 1,600 | 619,390 |
Kurita Water Industries Ltd. | 1,200 | 36,460 |
1,277,039 | ||
Netherlands — 2.1% | ||
Alfen N.V. * (a) | 671 | 21,153 |
Arcadis NV | 9,091 | 384,230 |
405,383 | ||
Norway — 0.1% | ||
TOMRA Systems ASA | 1,896 | 15,028 |
INVESTMENTS | SHARES | VALUE($) |
South Korea — 0.9% | ||
LG Energy Solution Ltd. * | 280 | 80,267 |
Samsung SDI Co. Ltd. | 261 | 82,642 |
162,909 | ||
Spain — 5.6% | ||
EDP Renovaveis SA | 5,144 | 82,751 |
Iberdrola SA | 83,264 | 926,064 |
Solaria Energia y Medio Ambiente SA * | 2,942 | 44,132 |
1,052,947 | ||
Sweden — 1.1% | ||
Boliden AB | 7,812 | 200,246 |
Switzerland — 5.9% | ||
ABB Ltd. (Registered) | 15,558 | 522,713 |
DSM-Firmenich AG | 819 | 74,247 |
Sika AG (Registered) | 2,163 | 517,627 |
1,114,587 | ||
United Kingdom — 5.3% | ||
CNH Industrial NV | 36,457 | 400,298 |
Spirax-Sarco Engineering plc | 385 | 38,428 |
SSE plc | 28,519 | 566,774 |
1,005,500 | ||
United States — 47.1% | ||
AGCO Corp. | 3,381 | 387,665 |
Array Technologies, Inc. * | 14,756 | 255,721 |
Autodesk, Inc. * | 3,145 | 621,546 |
Carrier Global Corp. | 9,599 | 457,488 |
Cognex Corp. | 1,061 | 38,185 |
Deere & Co. | 1,360 | 496,890 |
Eaton Corp. plc | 552 | 114,766 |
Enphase Energy, Inc. * | 164 | 13,051 |
First Solar, Inc. * | 1,158 | 164,957 |
Hubbell, Inc. | 1,318 | 355,992 |
Johnson Controls International plc | 5,528 | 270,983 |
Linde plc | 1,557 | 595,023 |
NextEra Energy, Inc. | 8,045 | 469,024 |
ON Semiconductor Corp. * | 1,105 | 69,217 |
Quanta Services, Inc. | 3,850 | 643,412 |
Rayonier, Inc., REIT | 8,589 | 216,786 |
Schneider Electric SE | 4,582 | 704,974 |
Shoals Technologies Group, Inc., Class A * | 2,157 | 33,132 |
SolarEdge Technologies, Inc. * | 166 | 12,608 |
TE Connectivity Ltd. | 1,567 | 184,671 |
Tetra Tech, Inc. | 1,545 | 233,156 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 9 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
United States — continued | ||
Trane Technologies plc | 3,657 | 695,964 |
Trex Co., Inc. * | 5,442 | 305,895 |
Trimble, Inc. * | 1,615 | 76,115 |
Weyerhaeuser Co., REIT | 20,152 | 578,161 |
Xylem, Inc. | 9,316 | 871,418 |
8,866,800 | ||
Total Common Stocks (Cost $20,903,524) | 18,340,138 | |
Short-Term Investments — 1.0% | ||
Investment Companies — 1.0% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 5.49% (b) (c)(Cost $195,563) | 195,505 | 195,583 |
Total Investments — 98.5% (Cost $21,099,087) | 18,535,721 | |
Other Assets Less Liabilities — 1.5% | 276,792 | |
NET ASSETS — 100.0% | 18,812,513 |
Percentages indicated are based on net assets. |
Abbreviations | |
OYJ | Public Limited Company |
REIT | Real Estate Investment Trust |
* | Non-income producing security. |
(a) | Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. |
(b) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(c) | The rate shown is the current yield as of October 31, 2023. |
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Electrical Equipment | 16.4 % |
Building Products | 12.1 |
Machinery | 12.1 |
Electric Utilities | 10.7 |
Software | 7.1 |
Chemicals | 6.4 |
Industrial Conglomerates | 5.8 |
Electronic Equipment, Instruments & Components | 5.4 |
Specialized REITs | 4.3 |
Paper & Forest Products | 4.1 |
Construction & Engineering | 3.5 |
Semiconductors & Semiconductor Equipment | 2.4 |
Commercial Services & Supplies | 2.4 |
Professional Services | 2.1 |
Automobiles | 1.9 |
Independent Power and Renewable Electricity Producers | 1.1 |
Metals & Mining | 1.1 |
Short-Term Investments | 1.1 |
10 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 97.4% | ||
Australia — 2.2% | ||
Goodman Group, REIT | 16,513 | 218,499 |
NEXTDC Ltd. * | 23,012 | 172,794 |
Ramsay Health Care Ltd. | 2,888 | 89,424 |
480,717 | ||
Austria — 0.5% | ||
Verbund AG | 1,247 | 108,348 |
Belgium — 1.6% | ||
Elia Group SA/NV | 1,211 | 114,992 |
Warehouses De Pauw CVA, REIT | 9,519 | 235,524 |
350,516 | ||
Brazil — 2.3% | ||
Transmissora Alianca de Energia Eletrica S/A | 74,891 | 503,259 |
Canada — 3.5% | ||
Canadian National Railway Co. | 7,295 | 771,665 |
China — 4.3% | ||
China Longyuan Power Group Corp. Ltd., Class H | 244,000 | 206,553 |
Contemporary Amperex Technology Co. Ltd., Class A | 4,120 | 104,268 |
NARI Technology Co. Ltd., Class A | 208,740 | 642,357 |
953,178 | ||
France — 8.9% | ||
Engie SA | 60,151 | 956,695 |
Getlink SE | 30,146 | 486,818 |
Neoen SA (a) | 3,481 | 91,922 |
Veolia Environnement SA | 16,118 | 441,640 |
1,977,075 | ||
Germany — 3.3% | ||
E.ON SE | 25,936 | 308,590 |
Vonovia SE | 18,389 | 423,353 |
731,943 | ||
Italy — 4.5% | ||
Enel SpA | 64,824 | 411,476 |
Infrastrutture Wireless Italiane SpA (a) | 21,448 | 234,852 |
Terna - Rete Elettrica Nazionale | 47,189 | 361,328 |
1,007,656 | ||
Japan — 0.6% | ||
Kurita Water Industries Ltd. | 4,800 | 145,841 |
Portugal — 1.0% | ||
EDP - Energias de Portugal SA | 55,189 | 231,932 |
INVESTMENTS | SHARES | VALUE($) |
Singapore — 1.2% | ||
Parkway Life, REIT | 108,000 | 264,952 |
South Korea — 0.4% | ||
Samsung SDI Co. Ltd. | 298 | 94,357 |
Spain — 8.8% | ||
Cellnex Telecom SA (a) | 9,297 | 273,295 |
Corp. ACCIONA Energias Renovables SA | 11,899 | 322,061 |
EDP Renovaveis SA | 14,756 | 237,379 |
Endesa SA | 25,424 | 478,344 |
Iberdrola SA | 31,021 | 345,016 |
Solaria Energia y Medio Ambiente SA * | 20,076 | 301,152 |
1,957,247 | ||
United Kingdom — 16.2% | ||
Assura plc, REIT | 1,052,929 | 523,943 |
Grainger plc | 77,881 | 215,258 |
LondonMetric Property plc, REIT | 273,558 | 551,261 |
National Grid plc | 39,801 | 474,546 |
Severn Trent plc | 7,775 | 250,995 |
SSE plc | 50,582 | 1,005,245 |
UNITE Group plc (The), REIT | 31,823 | 336,768 |
United Utilities Group plc | 19,211 | 248,467 |
3,606,483 | ||
United States — 38.1% | ||
Alexandria Real Estate Equities, Inc., REIT | 5,389 | 501,878 |
American Tower Corp., REIT | 2,313 | 412,154 |
CMS Energy Corp. | 6,128 | 332,996 |
Digital Realty Trust, Inc., REIT | 5,673 | 705,494 |
Equinix, Inc., REIT | 146 | 106,527 |
Hannon Armstrong Sustainable Infrastructure Capital, Inc., REIT | 10,910 | 186,997 |
HCA Healthcare, Inc. | 958 | 216,642 |
Itron, Inc. * | 2,183 | 125,042 |
NextEra Energy, Inc. | 8,256 | 481,325 |
Norfolk Southern Corp. | 1,618 | 308,698 |
PG&E Corp. * | 24,579 | 400,638 |
Physicians Realty Trust, REIT | 57,291 | 622,180 |
Prologis, Inc., REIT | 2,729 | 274,947 |
Public Service Enterprise Group, Inc. | 3,816 | 235,256 |
Sabra Health Care REIT, Inc., REIT | 50,633 | 690,634 |
SBA Communications Corp., REIT | 1,115 | 232,622 |
Sempra | 4,375 | 306,381 |
Union Pacific Corp. | 4,042 | 839,160 |
Ventas, Inc., REIT | 11,352 | 482,006 |
Welltower, Inc., REIT | 3,358 | 280,762 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 11 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
United States — continued | ||
Weyerhaeuser Co., REIT | 11,881 | 340,866 |
Xylem, Inc. | 4,364 | 408,209 |
8,491,414 | ||
Total Common Stocks (Cost $23,059,517) | 21,676,583 | |
Short-Term Investments — 2.4% | ||
Investment Companies — 2.4% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 5.49% (b) (c)(Cost $522,094) | 521,937 | 522,146 |
Total Investments — 99.8% (Cost $23,581,611) | 22,198,729 | |
Other Assets Less Liabilities — 0.2% | 54,392 | |
NET ASSETS — 100.0% | 22,253,121 |
Percentages indicated are based on net assets. |
Abbreviations | |
CVA | Certificaten Van Aandelen (Dutch Certificate) |
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 October 31, 2023. |
INDUSTRY | PERCENT OF TOTAL INVESTMENTS |
Electric Utilities | 20.0 % |
Multi-Utilities | 13.8 |
Health Care REITs | 12.9 |
Ground Transportation | 8.6 |
Specialized REITs | 8.1 |
Industrial REITs | 5.8 |
Independent Power and Renewable Electricity Producers | 5.2 |
Electrical Equipment | 3.4 |
Real Estate Management & Development | 2.9 |
Machinery | 2.5 |
Diversified Telecommunication Services | 2.3 |
Office REITs | 2.2 |
Water Utilities | 2.2 |
Transportation Infrastructure | 2.2 |
Residential REITs | 1.5 |
Health Care Providers & Services | 1.4 |
Electronic Equipment, Instruments & Components | 1.0 |
Others (each less than 1.0%) | 1.6 |
Short-Term Investments | 2.4 |
12 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
JPMorgan Climate Change Solutions ETF | JPMorgan Sustainable Infrastructure ETF | |
ASSETS: | ||
Investments in non-affiliates, at value | $18,340,138 | $21,676,583 |
Investments in affiliates, at value | 195,583 | 522,146 |
Cash | 440,973 | 50,458 |
Foreign currency, at value | 1,236 | 2 |
Receivables: | ||
Investment securities sold | 318,219 | 848 |
Dividends from non-affiliates | 20,312 | 1,502 |
Dividends from affiliates | 29 | 79 |
Tax reclaims | 19,779 | 5,924 |
Total Assets | 19,336,269 | 22,257,542 |
LIABILITIES: | ||
Payables: | ||
Investment securities purchased | 520,733 | — |
Accrued liabilities: | ||
Management fees (See Note 3.A.) | 3,023 | 4,421 |
Total Liabilities | 523,756 | 4,421 |
Net Assets | $18,812,513 | $22,253,121 |
NET ASSETS: | ||
Paid-in-Capital | $26,388,065 | $24,627,196 |
Total distributable earnings (loss) | (7,575,552 ) | (2,374,075 ) |
Total Net Assets | $18,812,513 | $22,253,121 |
Outstanding number of shares (unlimited number of shares authorized - par value $0.0001) | 550,000 | 525,000 |
Net asset value, per share | $34.20 | $42.39 |
Cost of investments in non-affiliates | $20,903,524 | $23,059,517 |
Cost of investments in affiliates | 195,563 | 522,094 |
Cost of foreign currency | 1,265 | 10 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 13 |
JPMorgan Climate Change Solutions ETF | JPMorgan Sustainable Infrastructure ETF | |
INVESTMENT INCOME: | ||
Interest income from non-affiliates | $2 | $45 |
Interest income from affiliates | 3,295 | 783 |
Dividend income from non-affiliates | 334,373 | 377,054 |
Dividend income from affiliates | 4,780 | 13,511 |
Non-cash dividend income from non-affiliates | 35,025 | 31,135 |
Income from securities lending (net) (See Note 2.C.) | 664 | — |
Foreign taxes withheld (net) | (33,241 ) | (23,857 ) |
Total investment income | 344,898 | 398,671 |
EXPENSES: | ||
Management fees (See Note 3.A.) | 104,804 | 74,919 |
Interest expense to affiliates | 72 | 1 |
Total expenses | 104,876 | 74,920 |
Net investment income (loss) | 240,022 | 323,751 |
REALIZED/UNREALIZED GAINS (LOSSES): | ||
Net realized gain (loss) on transactions from: | ||
Investments in non-affiliates | (2,093,029 ) | (1,275,188 ) |
Investments in affiliates | 21 | (5 ) |
Foreign currency transactions | (4,105 ) | (1,326 ) |
Net realized gain (loss) | (2,097,113 ) | (1,276,519 ) |
Change in net unrealized appreciation/depreciation on: | ||
Investments in non-affiliates | 1,330,779 | (385,849 ) |
Investments in affiliates | 20 | 85 |
Foreign currency translations | (644 ) | (220 ) |
Change in net unrealized appreciation/depreciation | 1,330,155 | (385,984 ) |
Net realized/unrealized gains (losses) | (766,958 ) | (1,662,503 ) |
Change in net assets resulting from operations | $(526,936 ) | $(1,338,752 ) |
14 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
JPMorgan Climate Change Solutions ETF | JPMorgan Sustainable Infrastructure ETF | |||
Year Ended October 31, 2023 | Period Ended October 31, 2022 (a) | Year Ended October 31, 2023 | Period Ended October 31, 2022 (b) | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||||
Net investment income (loss) | $240,022 | $236,078 | $323,751 | $8,521 |
Net realized gain (loss) | (2,097,113 ) | (3,152,866 ) | (1,276,519 ) | 29,434 |
Change in net unrealized appreciation/depreciation | 1,330,155 | (3,895,303 ) | (385,984 ) | (997,062 ) |
Change in net assets resulting from operations | (526,936 ) | (6,812,091 ) | (1,338,752 ) | (959,107 ) |
DISTRIBUTIONS TO SHAREHOLDERS: | ||||
Total distributions to shareholders | (221,237 ) | (15,288 ) | (76,216 ) | — |
CAPITAL TRANSACTIONS: | ||||
Change in net assets resulting from capital transactions | — | 26,388,065 | 14,003,003 | 10,624,193 |
NET ASSETS: | ||||
Change in net assets | (748,173 ) | 19,560,686 | 12,588,035 | 9,665,086 |
Beginning of period | 19,560,686 | — | 9,665,086 | — |
End of period | $18,812,513 | $19,560,686 | $22,253,121 | $9,665,086 |
CAPITAL TRANSACTIONS: | ||||
Proceeds from shares issued | $— | $26,388,065 | $14,003,003 | $10,624,193 |
Total change in net assets resulting from capital transactions | $— | $26,388,065 | $14,003,003 | $10,624,193 |
SHARE TRANSACTIONS: | ||||
Issued | — | 550,000 | 300,000 | 225,000 |
Net increase in shares from transactions | — | 550,000 | 300,000 | 225,000 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 15 |
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 | |||||
Year Ended October 31, 2023 | $35.56 | $0.44 | $(1.40 ) | $(0.96 ) | $(0.40 ) |
December 13, 2021 (f) through October 31, 2022 | 48.00 | 0.43 | (12.84 ) | (12.41 ) | (0.03 ) |
JPMorgan Sustainable Infrastructure ETF | |||||
Year Ended October 31, 2023 | 42.96 | 0.97 | (1.20 ) | (0.23 ) | (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 the 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. |
16 | J.P. Morgan Exchange-Traded Funds | October 31, 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) |
$34.20 | $34.26 | (2.80 )% | (3.04 )% | $18,812,513 | 0.49 % | 1.12 % | 43 % |
35.56 | 35.71 | (25.87 ) | (25.56 )(g) | 19,560,686 | 0.49 | 1.26 | 32 |
42.39 | 42.45 | (0.59 ) | (0.68 ) | 22,253,121 | 0.49 | 2.11 | 75 |
42.96 | 43.06 | (10.50 ) | (10.29 )(g) | 9,665,086 | 0.49 | 0.64 | — |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 17 |
Diversification Classification | |
JPMorgan Climate Change Solutions ETF | Non-Diversified |
JPMorgan Sustainable Infrastructure ETF | Non-Diversified |
Listing Exchange | |
Climate Change Solutions ETF | NYSE Arca, Inc. |
Sustainable Infrastructure ETF | NASDAQ Stock Market® LLC |
18 | J.P. Morgan Exchange-Traded Funds | October 31, 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 | $333,664 | $— | $— | $333,664 |
China | — | 168,094 | — | 168,094 |
Denmark | — | 64,565 | — | 64,565 |
Finland | — | 429,705 | — | 429,705 |
France | — | 1,015,524 | — | 1,015,524 |
Germany | — | 1,037,649 | — | 1,037,649 |
Ireland | — | 521,095 | — | 521,095 |
Italy | — | 669,403 | — | 669,403 |
Japan | — | 1,277,039 | — | 1,277,039 |
Netherlands | — | 405,383 | — | 405,383 |
Norway | — | 15,028 | — | 15,028 |
South Korea | — | 162,909 | — | 162,909 |
Spain | — | 1,052,947 | — | 1,052,947 |
Sweden | — | 200,246 | — | 200,246 |
Switzerland | — | 1,114,587 | — | 1,114,587 |
United Kingdom | 400,298 | 605,202 | — | 1,005,500 |
United States | 8,161,826 | 704,974 | — | 8,866,800 |
Total Common Stocks | 8,895,788 | 9,444,350 | — | 18,340,138 |
Short-Term Investments | ||||
Investment Companies | 195,583 | — | — | 195,583 |
Total Investments in Securities | $9,091,371 | $9,444,350 | $— | $18,535,721 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 19 |
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 | $— | $480,717 | $— | $480,717 |
Austria | — | 108,348 | — | 108,348 |
Belgium | — | 350,516 | — | 350,516 |
Brazil | 503,259 | — | — | 503,259 |
Canada | 771,665 | — | — | 771,665 |
China | — | 953,178 | — | 953,178 |
France | — | 1,977,075 | — | 1,977,075 |
Germany | — | 731,943 | — | 731,943 |
Italy | — | 1,007,656 | — | 1,007,656 |
Japan | — | 145,841 | — | 145,841 |
Portugal | — | 231,932 | — | 231,932 |
Singapore | — | 264,952 | — | 264,952 |
South Korea | — | 94,357 | — | 94,357 |
Spain | 322,061 | 1,635,186 | — | 1,957,247 |
United Kingdom | 990,196 | 2,616,287 | — | 3,606,483 |
United States | 8,491,414 | — | — | 8,491,414 |
Total Common Stocks | 11,078,595 | 10,597,988 | — | 21,676,583 |
Short-Term Investments | ||||
Investment Companies | 522,146 | — | — | 522,146 |
Total Investments in Securities | $11,600,741 | $10,597,988 | $— | $22,198,729 |
20 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Climate Change Solutions ETF | $18 |
Climate Change Solutions ETF | |||||||||
For the year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 5.49% (a) (b) | $— | $771,444 | $575,902 | $21 | $20 | $195,583 | 195,505 | $4,780 | $— |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | — | 800,972 | 800,972 | — | — | — | — | 1,554 * | — |
Total | $— | $1,572,416 | $1,376,874 | $21 | $20 | $195,583 | $6,334 | $— |
(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 October 31, 2023. |
* | Amount is included on the Statements of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
Sustainable Infrastructure ETF | |||||||||
For the year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 5.49% (a) (b) | $109,193 | $2,983,644 | $2,570,771 | $(5 ) | $85 | $522,146 | 521,937 | $13,511 | $— |
(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 October 31, 2023. |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 21 |
Paid-in-Capital | Accumulated undistributed (distributions in excess of) net investment income | Accumulated net realized gains (losses) | |
Climate Change Solutions ETF | $— | $(269 ) | $269 |
Sustainable Infrastructure ETF | — | 2,281 | (2,281 ) |
22 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Climate Change Solutions ETF | 0.49 % |
Sustainable Infrastructure ETF | 0.49 |
Purchases (excluding U.S. Government) | Sales (excluding U.S. Government) | |
Climate Change Solutions ETF | $8,983,089 | $9,115,552 |
Sustainable Infrastructure ETF | 12,305,821 | 11,171,169 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 23 |
In-Kind Purchases | In-Kind Sales | |
Sustainable Infrastructure ETF | $12,743,694 | $— |
Aggregate Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | |
Climate Change Solutions ETF | $21,114,220 | $181,999 | $2,760,498 | $(2,578,499 ) |
Sustainable Infrastructure ETF | 23,596,987 | 516,494 | 1,914,752 | (1,398,258 ) |
Ordinary Income* | Net Long-Term Capital Gains | Total Distributions Paid | |
Climate Change Solutions ETF | $221,237 | $— | $221,237 |
Sustainable Infrastructure ETF | 73,332 | 2,884 | 76,216 |
* | Short-term gain distributions are treated as ordinary income for income tax purposes. |
Ordinary Income* | Total Distributions Paid | |
Climate Change Solutions ETF | $15,288 | $15,288 |
* | Short-term gain distributions are treated as ordinary income for income tax purposes. |
Current Distributable Ordinary Income | Current Distributable Long-Term Capital Gain (Tax Basis Capital Loss Carryover) | Unrealized Appreciation (Depreciation) | |
Climate Change Solutions ETF | $237,521 | $(5,219,858 ) | $(2,580,281 ) |
Sustainable Infrastructure ETF | 293,622 | (1,261,363 ) | (1,398,422 ) |
Capital Loss Carryforward Character | ||
Short-Term | Long-Term | |
Climate Change Solutions ETF | $3,953,712 | $1,266,146 |
Sustainable Infrastructure ETF | 966,654 | 294,709 |
24 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 25 |
% of Ownership | |
Climate Change Solutions ETF | 82 % |
Sustainable Infrastructure ETF | 36 |
Sustainable Infrastructure ETF | |
United Kingdom | 16.2 % |
26 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 27 |
JPMorgan Climate Change Solutions ETF (1) |
JPMorgan Sustainable Infrastructure ETF (2) |
(1) | Statement of operations for the year ended October 31, 2023, and statement of changes in net assets for the year ended October 31, 2023 and the period December 13, 2021 (commencement of operations) through October 31, 2022 |
(2) | Statement of operations for the year ended October 31, 2023, and statement of changes in net assets for the year ended October 31, 2023 and the period September 7, 2022 (commencement of operations) through October 31, 2022 |
28 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Name (Year of Birth); Positions With the Funds (1) | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee (2) | Other Directorships Held During the Past 5 Years |
Independent Trustees | |||
John F. Finn (1947); Chair since 2020; Trustee since 1998. | Chairman, Gardner, Inc. (supply chain management company serving industrial and consumer markets) (serving in various roles 1974-present). | 170 | Director, Greif, Inc. (GEF) (industrial package products and services) (2007-present); Trustee, Columbus Association for the Performing Arts (1988-present). |
Stephen P. Fisher (1959); Trustee since 2018. | Retired; Chairman and Chief Executive Officer, NYLIFE Distributors LLC (registered broker-dealer) (serving in various roles 2008-2013); Chairman, NYLIM Service Company LLC (transfer agent) (2008-2017); New York Life Investment Management LLC (registered investment adviser) (serving in various roles 2005-2017); Chairman, IndexIQ Advisors LLC (registered investment adviser for ETFs) (2014-2017); President, MainStay VP Funds Trust (2007-2017), MainStay DefinedTerm Municipal Opportunities Fund (2011-2017) and MainStay Funds Trust (2007-2017) (registered investment companies). | 170 | Honors Program Advisory Board Member, The Zicklin School of Business, Baruch College, The City University of New York (2017-present). |
Gary L. French (1951); Trustee since 2014. | Real Estate Investor (2011-2020); Investment management industry Consultant and Expert Witness (2011-present); Senior Consultant for The Regulatory Fundamentals Group LLC (2011-2017). | 170 | Independent Trustee, The China Fund, Inc. (2013-2019); Exchange Traded Concepts Trust II (2012-2014); Exchange Traded Concepts Trust I (2011-2014). |
Kathleen M. Gallagher (1958); Trustee since 2018. | Retired; Chief Investment Officer — Benefit Plans, Ford Motor Company (serving in various roles 1985-2016). | 170 | Non- Executive Director, Legal & General Investment Management (Holdings) (2018-present); Non-Executive Director, Legal & General Investment Management America (U.S. Holdings) (financial services and insurance) (2017-present); Advisory Board Member, State Street Global Advisors Total Portfolio Solutions (2017-present); Member, Client Advisory Council, Financial Engines, LLC (registered investment adviser) (2011-2016); Director, Ford Pension Funds Investment Management Ltd. (2007-2016). |
Robert J. Grassi (1957); Trustee since 2014. | Sole Proprietor, Academy Hills Advisors LLC (2012-present); Pension Director, Corning Incorporated (2002-2012). | 170 | None |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 29 |
Name (Year of Birth); Positions With the Funds (1) | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee (2) | Other Directorships Held During the Past 5 Years |
Independent Trustees (continued) | |||
Frankie D. Hughes (1952); Trustee since 2008. | President, Ashland Hughes Properties (property management) (2014-present); President and Chief Investment Officer, Hughes Capital Management, Inc. (fixed income asset management) (1993-2014). | 170 | None |
Raymond Kanner (1953); Trustee since 2017. | Retired; Managing Director and Chief Investment Officer, IBM Retirement Funds (2007-2016). | 170 | Advisory Board Member, Penso Advisors, LLC (2020-present); Advisory Board Member, Los Angeles Capital (2018-present); Advisory Board Member, State Street Global Advisors Total Portfolio Solutions (2017- present); Acting Executive Director, Committee on Investment of Employee Benefit Assets (CIEBA) (2016-2017); Advisory Board Member, Betterment for Business (robo advisor) (2016- 2017); Advisory Board Member, BlueStar Indexes (index creator) (2013-2017); Director, Emerging Markets Growth Fund (registered investment company) (1997-2016); Member, Russell Index Client Advisory Board (2001-2015). |
Thomas P. Lemke (1954); Trustee since 2014. | Retired since 2013. | 170 | (1) Independent Trustee of Advisors’ Inner Circle III fund platform, consisting of the following: (i) the Advisors’ Inner Circle Fund III, (ii) the Gallery Trust, (iii) the Schroder Series Trust, (iv) the Delaware Wilshire Private Markets Fund (since 2020), (v) Chiron Capital Allocation Fund Ltd., and (vi) formerly the Winton Diversified Opportunities Fund (2014-2018); and (2) Independent Trustee of the Symmetry Panoramic Trust (since 2018). |
Lawrence R. Maffia (1950); Trustee since 2014. | Retired; Director and President, ICI Mutual Insurance Company (2006-2013). | 170 | Director, ICI Mutual Insurance Company (1999-2013). |
Mary E. Martinez (1960); Vice Chair since 2021; Trustee since 2013. | Associate, Special Properties, a Christie’s International Real Estate Affiliate (2010-present); Managing Director, Bank of America (asset management) (2007-2008); Chief Operating Officer, U.S. Trust Asset Management, U.S. Trust Company (asset management) (2003-2007); President, Excelsior Funds (registered investment companies) (2004-2005). | 170 | None |
Marilyn McCoy (1948); Trustee since 1999. | Retired; Vice President of Administration and Planning, Northwestern University (1985-2023). | 170 | None |
30 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Name (Year of Birth); Positions With the Funds (1) | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee (2) | Other Directorships Held During the Past 5 Years |
Independent Trustees (continued) | |||
Dr. Robert A. Oden, Jr. (1946); Trustee since 1997. | Retired; President, Carleton College (2002-2010); President, Kenyon College (1995-2002). | 170 | Trustee, The Coldwater Conservation Fund (2017-present); Trustee, American Museum of Fly Fishing (2013-present); Trustee and Vice Chair, Trout Unlimited (2017-2021); Trustee, Dartmouth- Hitchcock Medical Center (2011-2020). |
Marian U. Pardo* (1946); Trustee since 2013. | Managing Director and Founder, Virtual Capital Management LLC (investment consulting) (2007-present); Managing Director, Credit Suisse Asset Management (portfolio manager) (2003-2006). | 170 | Board Chair and Member, Board of Governors, Columbus Citizens Foundation (not-for-profit supporting philanthropic and cultural programs) (2006-present). |
Emily A. Youssouf (1951); Trustee since 2014. | Adjunct Professor (2011-present) and Clinical Professor (2009-2011), NYU Schack Institute of Real Estate; Board Member and Member of the Audit Committee (2013–present), Chair of Finance Committee (2019-present), Member of Related Parties Committee (2013-2018) and Member of the Enterprise Risk Committee (2015-2018), PennyMac Financial Services, Inc.; Board Member (2005-2018), Chair of Capital Committee (2006-2016), Chair of Audit Committee (2005-2018), Member of Finance Committee (2005-2018) and Chair of IT Committee (2016-2018), NYC Health and Hospitals Corporation. | 170 | Trustee, NYC School Construction Authority (2009-present); Board Member, NYS Job Development Authority (2008-present); Trustee and Chair of the Audit Committee of the Transit Center Foundation (2015-2019). |
Interested Trustees | |||
Robert F. Deutsch** (1957); Trustee since 2014. | Retired; Head of ETF Business for JPMorgan Asset Management (2013-2017); Head of Global Liquidity Business for JPMorgan Asset Management (2003-2013). | 170 | Treasurer and Director of the JUST Capital Foundation (2017-present). |
Nina O. Shenker** (1957); Trustee since 2022. | Vice Chair (2017-2021), General Counsel and Managing Director (2008-2016), Associate General Counsel and Managing Director (2004-2008), J.P. Morgan Asset & Wealth Management. | 170 | Director and Member of Legal and Human Resources Subcommittees, American Jewish Joint Distribution Committee (2018-present). |
(1) | The year shown is the first year in which a Trustee became a member of any of the following: the JPMorgan Mutual Fund Board, the JPMorgan ETF Board, the heritage J.P. Morgan Funds or the heritage One Group Mutual Funds. Trustees serve an indefinite term, until resignation, retirement, removal or death. The Board's current retirement policy sets retirement at the end of the calendar year in which the Trustee attains the age of 75, provided that any Board member who was a member of the JPMorgan Mutual Fund Board prior to January 1, 2022 and was born prior to January 1, 1950 shall retire from the Board at the end of the calendar year in which the Trustee attains the age of 78. | ||
(2) | A Fund Complex means two or more registered investment companies that hold themselves out to investors as related companies for purposes of investment and investor services or have a common investment adviser or have an investment adviser that is an affiliated person of the investment adviser of any of the other registered investment companies. The J.P. Morgan Funds Complex for which the Board of Trustees serves currently includes nine registered investment companies (170 J.P. Morgan Funds). | ||
* | In connection with prior employment with JPMorgan Chase, Ms. Pardo was the recipient of non-qualified pension plan payments from JPMorgan Chase in the amount of approximately $2,055 per month, which she irrevocably waived effective January 1, 2013, and deferred compensation payments from JPMorgan Chase in the amount of approximately $7,294 per year, which ended in January 2013. In addition, Ms. Pardo receives payments from a fully-funded qualified plan, which is not an obligation of JPMorgan Chase. |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 31 |
** | Designation as an “Interested Trustee” is based on prior employment by the Adviser or an affiliate of the Adviser or interests in a control person of the Adviser. | ||
The contact address for each of the Trustees is 277 Park Avenue, New York, NY 10172. |
32 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Name (Year of Birth), Positions Held with the Trust (Since) | Principal Occupations During Past 5 Years |
Brian S. Shlissel (1964), President and Principal Executive Officer (2021) | Managing Director and Chief Administrative Officer for J.P. Morgan pooled vehicles, J.P. Morgan Investment Management Inc. since 2014. |
Timothy J. Clemens (1975), Treasurer and Principal Financial Officer (2020) | Managing Director, J.P. Morgan Investment Management Inc. Mr. Clemens has been with J.P. Morgan Investment Management Inc. since 2013. |
Gregory S. Samuels (1980), Secretary (2022) (formerly Assistant Secretary 2014-2022) | Managing Director and Assistant General Counsel, JPMorgan Chase & Co. Mr. Samuels has been with JPMorgan Chase & Co. since 2010. |
Stephen M. Ungerman (1953), Chief Compliance Officer (2014) | Managing Director, JPMorgan Chase & Co. Mr. Ungerman has been with JPMorgan Chase & Co. since 2000. |
Kiesha Astwood-Smith (1973), Assistant Secretary (2021) | Vice President and Assistant General Counsel, JPMorgan Chase & Co. since June 2021; Senior Director and Counsel, Equitable Financial Life Insurance Company (formerly, AXA Equitable Life Insurance Company) from September 2015 through June 2021. |
Matthew Beck (1988), Assistant Secretary (2021)* | Vice President and Assistant General Counsel, JPMorgan Chase & Co. since May 2021; Senior Legal Counsel, Ultimus Fund Solutions from May 2018 through May 2021; General Counsel, The Nottingham Company from April 2014 through May 2018. |
Elizabeth A. Davin (1964), Assistant Secretary (2022) (formerly Secretary 2018-2022)* | Executive Director and Assistant General Counsel, JPMorgan Chase & Co. Ms. Davin has been with JPMorgan Chase & Co. (formerly Bank One Corporation) since 2004. |
Jessica K. Ditullio (1962), Assistant Secretary (2014)* | Executive Director and Assistant General Counsel, JPMorgan Chase & Co. Ms. Ditullio has been with JPMorgan Chase & Co. (formerly Bank One Corporation) since 1990. |
Anthony Geron (1971), Assistant Secretary (2019) | Vice President and Assistant General Counsel, JPMorgan Chase & Co. since September 2018; Lead Director and Counsel, AXA Equitable Life Insurance Company from 2015 to 2018 and Senior Director and Counsel, AXA Equitable Life Insurance Company from 2014 to 2015. |
Carmine Lekstutis (1980), Assistant Secretary (2014) | Executive Director and Assistant General Counsel, JPMorgan Chase & Co. Mr. Lekstutis has been with JPMorgan Chase & Co. since 2011. |
Max Vogel (1990), Assistant Secretary (2021) | Vice President and Assistant General Counsel, JPMorgan Chase & Co. since June 2021; Associate, Proskauer Rose LLP (law firm) from March 2017 to June 2021. |
Zachary E. Vonnegut-Gabovitch (1986), Assistant Secretary (2017) | Executive Director and Assistant General Counsel, JPMorgan Chase & Co. Mr. Vonnegut-Gabovitch has been with JPMorgan Chase & Co. since September 2016. |
Frederick J. Cavaliere (1978), Assistant Treasurer (2015)** | Executive Director, J.P. Morgan Investment Management Inc. Mr. Cavaliere has been with JPMorgan Chase & Co. since May 2006. |
Michael M. D’Ambrosio (1969), Assistant Treasurer (2014) | Managing Director, J.P. Morgan Investment Management Inc. Mr. D’Ambrosio has been with J.P. Morgan Investment Management Inc. since 2012. |
Aleksandr Fleytekh (1972), Assistant Treasurer (2023) | Executive Director, J.P. Morgan Investment Management Inc. Mr. Fleytekh has been with J.P. Morgan Investment Management Inc. since February 2012. |
Shannon Gaines (1977), Assistant Treasurer (2019)* | Executive Director, J.P. Morgan Investment Management Inc. Mr. Gaines has been with J.P. Morgan Investment Management Inc. since January 2014. |
Jeffrey D. House (1972), Assistant Treasurer (2023)* | Vice President, J.P. Morgan Investment Management Inc. Mr. House has been with J.P. Morgan Investment Management Inc. since July 2006. |
Michael Mannarino (1985), Assistant Treasurer (2023) | Vice President, J.P. Morgan Investment Management Inc. Mr. Mannarino has been with J.P. Morgan Investment Management Inc. since 2014. |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 33 |
Nektarios E. Manolakakis (1972), Assistant Treasurer (2020) | Executive Director, J.P. Morgan Investment Management Inc. since February 2021, formerly Vice President, J.P. Morgan Investment Management Inc. since 2014; Vice President, J.P. Morgan Corporate & Investment Bank 2010-2014. |
Todd McEwen (1981), Assistant Treasurer (2020)* | Vice President, J.P. Morgan Investment Management Inc. Mr. McEwen has been with J.P. Morgan Investment Management Inc. since 2010. |
Joseph Parascondola (1963), Assistant Treasurer (2023)** | Executive Director, J.P. Morgan Investment Management Inc. Mr. Parascondola has been with J.P. Morgan Investment Management Inc. since 2006. |
Gillian I. Sands (1969), Assistant Treasurer (2023) | Executive Director, J.P. Morgan Investment Management Inc. Ms. Sands has been with J.P. Morgan Investment Management Inc. since September 2012. |
The contact address for each of the officers, unless otherwise noted, is 277 Park Avenue, New York, NY 10172. | |
* | The contact address for the officer is 1111 Polaris Parkway, Columbus, OH 43240. |
** | The contact address for the officer is 575 Washington Boulevard, Jersey City, NJ 07310. |
34 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Beginning Account Value May 1, 2023 | Ending Account Value October 31, 2023 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan Climate Change Solutions ETF | ||||
Actual | $1,000.00 | $872.20 | $2.31 | 0.49 % |
Hypothetical | 1,000.00 | 1,022.73 | 2.50 | 0.49 |
JPMorgan Sustainable Infrastructure ETF | ||||
Actual | 1,000.00 | 887.40 | 2.33 | 0.49 |
Hypothetical | 1,000.00 | 1,022.73 | 2.50 | 0.49 |
* | Expenses are equal to each Fund's annualized net expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 35 |
36 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 37 |
38 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 39 |
Dividends Received Deduction | |
JPMorgan Climate Change Solutions ETF | 30.26 % |
JPMorgan Sustainable Infrastructure ETF | 60.31 |
Long-Term Capital Gain Distribution | |
JPMorgan Sustainable Infrastructure ETF | $2,884 |
Qualified Dividend Income | |
JPMorgan Climate Change Solutions ETF | $253,196 |
JPMorgan Sustainable Infrastructure ETF | 95,511 |
Total Foreign Source Income | Total Foreign Tax Credit | |
JPMorgan Climate Change Solutions ETF | $295,794 | $31,959 |
JPMorgan Sustainable Infrastructure ETF | 282,286 | 22,178 |
40 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Fund | Ticker | Listing Exchange |
JPMorgan International Research Enhanced Equity ETF | JIRE | NYSE Arca, Inc. |
1 | |
2 | |
5 | |
10 | |
16 | |
18 | |
28 | |
29 | |
33 | |
35 | |
36 | |
37 | |
40 |
"The strong performance of financial markets in 2023 created wider differences in equity valuations that may provide attractive opportunities for investors. Additionally, interest rate reductions next year could benefit high-quality fixed income investments.” — 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
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 1 |
REPORTING PERIOD RETURN: | |
Net Asset Value * | 17.17% |
Market Price ** | 17.54% |
MSCI EAFE Index (net total return) | 14.40% |
Net Assets as of 10/31/2023 | $5,086,537,039 |
Fund Ticker | JIRE |
2 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
TOP TEN HOLDINGS OF THE PORTFOLIO AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS | |
1. | Novo Nordisk A/S, Class B (Denmark) | 2.8 % |
2. | Nestle SA (Registered) | 2.5 |
3. | ASML Holding NV (Netherlands) | 2.2 |
4. | Shell plc (Netherlands) | 2.0 |
5. | LVMH Moet Hennessy Louis Vuitton SE (France) | 1.9 |
6. | AstraZeneca plc (United Kingdom) | 1.8 |
7. | Roche Holding AG | 1.7 |
8. | BP plc (United Kingdom) | 1.5 |
9. | Allianz SE (Registered) (Germany) | 1.4 |
10. | Air Liquide SA (France) | 1.4 |
PORTFOLIO COMPOSITION BY COUNTRY AS OF October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Japan | 22.8% |
United Kingdom | 13.1 |
France | 12.2 |
United States | 7.9 |
Germany | 7.7 |
Australia | 6.5 |
Netherlands | 6.1 |
Switzerland | 5.1 |
Denmark | 3.4 |
Sweden | 2.5 |
Hong Kong | 2.1 |
Spain | 2.0 |
Singapore | 1.1 |
Italy | 1.0 |
Others (each less than 1.0%) | 2.6 |
Short-Term Investments | 3.9 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 3 |
INCEPTION DATE | 1 YEAR | 5 YEAR | 10 YEAR | |
JPMorgan International Research Enhanced Equity ETF | ||||
Net Asset Value | October 28, 1992* | 17.17 % | 4.60 % | 3.27 % |
Market Price | 17.54 | 4.67 | 3.31 |
* | Inception date for Class R6 Shares of the Predecessor Fund (as defined below). |
4 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — 95.6% | ||
Australia — 6.5% | ||
ANZ Group Holdings Ltd. | 453,413 | 7,149,860 |
Aurizon Holdings Ltd. | 963,063 | 2,097,661 |
BHP Group Ltd. | 2,023,820 | 57,289,238 |
Brambles Ltd. | 571,227 | 4,767,321 |
Commonwealth Bank of Australia | 396,748 | 24,406,312 |
Dexus, REIT | 791,837 | 3,270,437 |
Glencore plc | 817,695 | 4,331,192 |
Goodman Group, REIT | 1,628,257 | 21,544,949 |
GPT Group (The), REIT | 1,375,238 | 3,173,814 |
Insurance Australia Group Ltd. | 1,505,097 | 5,429,695 |
Macquarie Group Ltd. | 184,459 | 18,960,536 |
Medibank Pvt Ltd. | 3,930,089 | 8,576,550 |
Mirvac Group, REIT | 4,473,733 | 5,190,666 |
National Australia Bank Ltd. | 639,934 | 11,463,941 |
Newcrest Mining Ltd. | 266,969 | 4,001,331 |
QBE Insurance Group Ltd. | 1,430,270 | 14,182,710 |
Rio Tinto Ltd. | 591,354 | 44,173,019 |
Rio Tinto plc | 300,522 | 19,173,460 |
Santos Ltd. | 3,154,615 | 15,392,815 |
Wesfarmers Ltd. | 258,734 | 8,324,464 |
Westpac Banking Corp. | 1,809,425 | 23,760,975 |
Woodside Energy Group Ltd. | 237,452 | 5,171,658 |
Woolworths Group Ltd. | 791,675 | 17,721,463 |
329,554,067 | ||
Belgium — 0.5% | ||
KBC Group NV | 417,645 | 22,985,031 |
China — 0.5% | ||
BOC Hong Kong Holdings Ltd. | 3,575,000 | 9,454,231 |
Prosus NV * | 602,298 | 16,843,615 |
Xinyi Glass Holdings Ltd. | 1,389,300 | 1,596,334 |
27,894,180 | ||
Denmark — 3.3% | ||
Carlsberg A/S, Class B | 203,822 | 24,290,123 |
Genmab A/S * | 16,676 | 4,714,020 |
Novo Nordisk A/S, Class B | 1,459,280 | 140,785,842 |
169,789,985 | ||
Finland — 0.9% | ||
Nokia OYJ | 1,988,288 | 6,622,356 |
Nordea Bank Abp | 3,933,065 | 41,423,898 |
48,046,254 | ||
France — 12.2% | ||
Air Liquide SA | 400,140 | 68,564,891 |
INVESTMENTS | SHARES | VALUE($) |
France — continued | ||
Airbus SE | 270,090 | 36,212,645 |
AXA SA | 256,349 | 7,595,730 |
BNP Paribas SA | 657,886 | 37,831,094 |
Capgemini SE | 236,446 | 41,786,816 |
Engie SA | 2,287,732 | 36,386,122 |
Kering SA | 26,099 | 10,614,507 |
Legrand SA | 387,689 | 33,537,573 |
L'Oreal SA | 149,795 | 62,963,440 |
LVMH Moet Hennessy Louis Vuitton SE | 137,853 | 98,693,178 |
Orange SA | 1,998,876 | 23,510,876 |
Pernod Ricard SA | 64,410 | 11,437,697 |
Safran SA | 249,248 | 38,937,410 |
Societe Generale SA | 824,591 | 18,530,018 |
TotalEnergies SE | 549,403 | 36,731,702 |
Vinci SA | 501,753 | 55,481,037 |
618,814,736 | ||
Germany — 7.7% | ||
adidas AG | 72,036 | 12,808,563 |
Allianz SE (Registered) | 294,400 | 68,961,006 |
BASF SE | 62,244 | 2,876,118 |
Bayer AG (Registered) | 249,107 | 10,763,556 |
Brenntag SE | 78,391 | 5,829,282 |
Deutsche Post AG | 751,026 | 29,322,679 |
Deutsche Telekom AG (Registered) | 1,935,148 | 41,999,805 |
Dr Ing hc F Porsche AG (Preference) (a) | 132,013 | 11,570,286 |
Infineon Technologies AG | 1,106,405 | 32,318,334 |
Mercedes-Benz Group AG | 137,900 | 8,113,246 |
Merck KGaA | 46,558 | 7,032,046 |
Muenchener Rueckversicherungs- Gesellschaft AG (Registered) | 81,795 | 32,824,979 |
RWE AG | 1,020,274 | 39,041,222 |
SAP SE | 348,079 | 46,688,649 |
Siemens AG (Registered) | 253,186 | 33,597,495 |
Symrise AG | 26,338 | 2,691,461 |
Zalando SE * (b) | 226,554 | 5,299,207 |
391,737,934 | ||
Hong Kong — 2.0% | ||
AIA Group Ltd. | 4,294,800 | 37,295,219 |
CK Asset Holdings Ltd. | 1,566,848 | 7,831,615 |
CLP Holdings Ltd. | 341,500 | 2,499,364 |
Hong Kong Exchanges & Clearing Ltd. | 557,200 | 19,492,335 |
Link, REIT | 617,300 | 2,832,878 |
Prudential plc | 1,367,128 | 14,295,222 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 5 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Hong Kong — continued | ||
Sun Hung Kai Properties Ltd. | 659,000 | 6,767,077 |
Techtronic Industries Co. Ltd. | 1,396,000 | 12,744,817 |
103,758,527 | ||
Ireland — 0.4% | ||
Kingspan Group plc | 333,689 | 22,456,882 |
Italy — 1.0% | ||
Enel SpA | 993,343 | 6,305,324 |
FinecoBank Banca Fineco SpA | 1,337,784 | 15,781,364 |
UniCredit SpA | 1,167,377 | 29,265,693 |
51,352,381 | ||
Japan — 22.7% | ||
AGC, Inc. | 193,100 | 6,569,087 |
Ajinomoto Co., Inc. | 717,000 | 26,186,766 |
Asahi Group Holdings Ltd. | 712,100 | 25,756,952 |
Asahi Kasei Corp. | 1,077,300 | 6,623,009 |
Bridgestone Corp. | 689,500 | 26,094,271 |
Central Japan Railway Co. | 1,099,700 | 24,752,501 |
Daiichi Sankyo Co. Ltd. | 1,261,400 | 32,524,183 |
Daikin Industries Ltd. | 169,383 | 24,421,461 |
Daiwa House Industry Co. Ltd. | 882,600 | 24,276,508 |
Denso Corp. | 1,664,500 | 24,578,562 |
Dentsu Group, Inc. | 801,500 | 23,280,361 |
Fast Retailing Co. Ltd. | 31,700 | 7,018,266 |
Fuji Electric Co. Ltd. | 337,100 | 12,834,958 |
Hitachi Ltd. | 638,700 | 40,485,039 |
Honda Motor Co. Ltd. | 2,810,616 | 28,805,365 |
Hoya Corp. | 309,600 | 29,804,765 |
ITOCHU Corp. | 994,000 | 35,804,905 |
Japan Airlines Co. Ltd. | 219,000 | 4,026,049 |
Keyence Corp. | 106,300 | 41,150,720 |
Komatsu Ltd. | 97,500 | 2,240,199 |
Konami Group Corp. | 233,100 | 12,075,068 |
Kyowa Kirin Co. Ltd. | 915,800 | 14,363,677 |
Mitsubishi Corp. | 977,100 | 45,548,064 |
Mitsubishi UFJ Financial Group, Inc. | 2,204,350 | 18,492,616 |
Mitsui Fudosan Co. Ltd. | 1,113,900 | 24,143,629 |
Murata Manufacturing Co. Ltd. | 1,350,500 | 23,133,226 |
NIDEC Corp. | 98,700 | 3,620,419 |
Nintendo Co. Ltd. | 234,300 | 9,679,977 |
Nippon Paint Holdings Co. Ltd. | 464,700 | 3,124,230 |
Nippon Steel Corp. | 181,400 | 3,912,591 |
Nippon Telegraph & Telephone Corp. | 28,872,500 | 33,976,455 |
Nomura Research Institute Ltd. | 548,300 | 14,392,850 |
INVESTMENTS | SHARES | VALUE($) |
Japan �� continued | ||
ORIX Corp. | 1,178,700 | 21,436,253 |
Osaka Gas Co. Ltd. | 328,000 | 6,185,354 |
Otsuka Corp. | 494,400 | 19,822,782 |
Recruit Holdings Co. Ltd. | 407,200 | 11,675,527 |
Renesas Electronics Corp. * | 631,200 | 8,291,203 |
Seven & i Holdings Co. Ltd. | 358,200 | 13,123,986 |
Shimadzu Corp. | 243,500 | 5,757,872 |
Shin-Etsu Chemical Co. Ltd. | 1,418,700 | 42,423,923 |
Shionogi & Co. Ltd. | 265,300 | 12,353,597 |
Shiseido Co. Ltd. | 445,000 | 14,113,385 |
SoftBank Group Corp. | 157,200 | 6,437,980 |
Sony Group Corp. | 606,515 | 50,424,982 |
Sumitomo Electric Industries Ltd. | 1,285,300 | 13,493,378 |
Sumitomo Metal Mining Co. Ltd. | 520,200 | 14,613,437 |
Sumitomo Mitsui Financial Group, Inc. | 960,400 | 46,298,943 |
Suzuki Motor Corp. | 571,100 | 22,165,540 |
T&D Holdings, Inc. | 1,478,200 | 26,369,942 |
Takeda Pharmaceutical Co. Ltd. | 128,900 | 3,498,958 |
Terumo Corp. | 931,000 | 25,470,475 |
Tokio Marine Holdings, Inc. | 1,426,700 | 31,918,469 |
Tokyo Electron Ltd. | 289,100 | 38,201,007 |
Toyota Motor Corp. | 2,991,200 | 52,327,303 |
Yamato Holdings Co. Ltd. | 869,700 | 14,485,741 |
1,154,586,766 | ||
Macau — 0.1% | ||
Sands China Ltd. * | 2,223,200 | 5,984,965 |
Netherlands — 6.1% | ||
Adyen NV * (b) | 8,298 | 5,596,885 |
ASML Holding NV | 185,729 | 111,645,494 |
Koninklijke Ahold Delhaize NV | 499,507 | 14,791,295 |
Koninklijke KPN NV | 7,764,562 | 26,098,084 |
NN Group NV | 762,466 | 24,454,102 |
Shell plc | 3,207,870 | 103,379,556 |
Wolters Kluwer NV | 176,704 | 22,672,181 |
308,637,597 | ||
Singapore — 1.1% | ||
DBS Group Holdings Ltd. | 1,282,065 | 30,799,474 |
Oversea-Chinese Banking Corp. Ltd. | 708,900 | 6,572,294 |
Sea Ltd., ADR * | 124,989 | 5,212,041 |
United Overseas Bank Ltd. | 607,400 | 11,980,783 |
54,564,592 | ||
South Korea — 0.1% | ||
Delivery Hero SE * (b) | 111,406 | 2,847,104 |
6 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
INVESTMENTS | SHARES | VALUE($) |
Common Stocks — continued | ||
Spain — 2.0% | ||
Banco Bilbao Vizcaya Argentaria SA | 1,668,902 | 13,129,644 |
Banco Santander SA | 2,630,696 | 9,675,530 |
Iberdrola SA | 4,852,842 | 53,973,395 |
Industria de Diseno Textil SA (c) | 761,201 | 26,275,118 |
103,053,687 | ||
Sweden — 2.5% | ||
Atlas Copco AB, Class A | 3,578,710 | 46,340,793 |
Sandvik AB | 706,107 | 12,027,134 |
Skandinaviska Enskilda Banken AB, Class A | 2,222,234 | 24,799,054 |
Volvo AB, Class B | 2,251,737 | 44,618,609 |
127,785,590 | ||
Switzerland — 5.0% | ||
Cie Financiere Richemont SA (Registered) | 236,266 | 27,873,603 |
DSM-Firmenich AG | 127,042 | 11,517,093 |
Givaudan SA (Registered) | 1,830 | 6,091,197 |
Julius Baer Group Ltd. | 159,683 | 9,463,086 |
Lonza Group AG (Registered) | 84,362 | 29,543,909 |
Novartis AG (Registered) | 707,561 | 66,241,555 |
Sandoz Group AG * | 141,508 | 3,679,068 |
SGS SA (Registered) | 235,659 | 19,246,432 |
Sika AG (Registered) | 124,826 | 29,872,060 |
UBS Group AG (Registered) | 736,637 | 17,308,349 |
Zurich Insurance Group AG | 74,442 | 35,359,394 |
256,195,746 | ||
United Kingdom — 13.1% | ||
3i Group plc | 2,042,764 | 48,163,453 |
AstraZeneca plc | 713,897 | 89,382,584 |
Barclays plc | 14,653,805 | 23,520,056 |
Berkeley Group Holdings plc | 471,419 | 23,173,384 |
BP plc | 12,401,039 | 75,720,988 |
British American Tobacco plc | 571,586 | 17,074,673 |
Centrica plc | 4,001,071 | 7,659,248 |
DCC plc | 139,131 | 7,729,292 |
Diageo plc | 1,355,069 | 51,243,324 |
HSBC Holdings plc | 4,347,533 | 31,391,038 |
InterContinental Hotels Group plc | 416,548 | 29,517,659 |
Intertek Group plc | 66,727 | 3,107,719 |
Lloyds Banking Group plc | 53,748,684 | 26,159,483 |
London Stock Exchange Group plc | 149,832 | 15,117,314 |
National Grid plc | 643,551 | 7,673,044 |
Reckitt Benckiser Group plc | 367,015 | 24,555,859 |
RELX plc | 1,737,325 | 60,680,794 |
SSE plc | 1,550,553 | 30,815,023 |
INVESTMENTS | SHARES | VALUE($) |
United Kingdom — continued | ||
Standard Chartered plc | 4,057,387 | 31,109,360 |
Taylor Wimpey plc | 4,741,754 | 6,404,424 |
Tesco plc | 7,967,994 | 26,147,470 |
Unilever plc | 600,913 | 28,425,795 |
664,771,984 | ||
United States — 7.9% | ||
CSL Ltd. | 163,858 | 24,216,922 |
GSK plc | 2,178,822 | 38,841,369 |
Nestle SA (Registered) | 1,177,669 | 126,998,389 |
Roche Holding AG | 342,964 | 88,385,129 |
Sanofi SA | 175,946 | 15,976,991 |
Schneider Electric SE | 352,660 | 54,259,307 |
Stellantis NV | 2,754,428 | 51,459,177 |
400,137,284 | ||
Total Common Stocks (Cost $4,597,931,676) | 4,864,955,292 | |
Short-Term Investments — 3.9% | ||
Investment Companies — 3.6% | ||
JPMorgan Prime Money Market Fund Class IM Shares, 5.49% (d) (e)(Cost $182,499,052) | 182,460,687 | 182,533,672 |
Investment of Cash Collateral from Securities Loaned — 0.3% | ||
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.53% (d) (e) | 11,997,600 | 12,000,000 |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (d) (e) | 1,828,971 | 1,828,971 |
Total Investment of Cash Collateral from Securities Loaned (Cost $13,828,971) | 13,828,971 | |
Total Short-Term Investments (Cost $196,328,023) | 196,362,643 | |
Total Investments — 99.5% (Cost $4,794,259,699) | 5,061,317,935 | |
Other Assets Less Liabilities — 0.5% | 25,219,104 | |
NET ASSETS — 100.0% | 5,086,537,039 |
Percentages indicated are based on net assets. |
Abbreviations | |
ADR | American Depositary Receipt |
OYJ | Public Limited Company |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 7 |
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) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. |
(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) | The security or a portion of this security is on loan at October 31, 2023. The total value of securities on loan at October 31, 2023 is $12,944,241. |
(d) | Investment in an affiliated fund, which is registered under the Investment Company Act of 1940, as amended, and is advised by J.P. Morgan Investment Management Inc. |
(e) | The rate shown is the current yield as of October 31, 2023. |
INDUSTRY October 31, 2023 | PERCENT OF TOTAL INVESTMENTS |
Pharmaceuticals | 10.3 % |
Banks | 10.2 |
Insurance | 6.1 |
Oil, Gas & Consumable Fuels | 4.7 |
Semiconductors & Semiconductor Equipment | 3.8 |
Automobiles | 3.4 |
Chemicals | 3.4 |
Food Products | 3.0 |
Textiles, Apparel & Luxury Goods | 3.0 |
Metals & Mining | 2.9 |
Capital Markets | 2.5 |
Diversified Telecommunication Services | 2.5 |
Machinery | 2.3 |
Professional Services | 2.3 |
Beverages | 2.2 |
Personal Care Products | 2.1 |
Electrical Equipment | 2.1 |
Electric Utilities | 1.8 |
Trading Companies & Distributors | 1.7 |
Industrial Conglomerates | 1.6 |
Household Durables | 1.6 |
IT Services | 1.5 |
Aerospace & Defense | 1.5 |
Consumer Staples Distribution & Retail | 1.4 |
Electronic Equipment, Instruments & Components | 1.4 |
Automobile Components | 1.3 |
Real Estate Management & Development | 1.2 |
Construction & Engineering | 1.1 |
Health Care Equipment & Supplies | 1.1 |
Building Products | 1.1 |
Multi-Utilities | 1.0 |
Others (each less than 1.0%) | 10.0 |
Short-Term Investments | 3.9 |
8 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
DESCRIPTION | NUMBER OF CONTRACTS | EXPIRATION DATE | TRADING CURRENCY | NOTIONAL AMOUNT ($) | VALUE AND UNREALIZED APPRECIATION (DEPRECIATION) ($) |
Long Contracts | |||||
MSCI EAFE E-Mini Index | 671 | 12/15/2023 | USD | 66,227,700 | (2,440,099 ) |
SPI 200 Index | 938 | 12/21/2023 | AUD | 101,421,210 | (6,753,321 ) |
(9,193,420 ) |
Abbreviations | |
AUD | Australian Dollar |
EAFE | Europe, Australasia and Far East |
MSCI | Morgan Stanley Capital International |
SPI | Australian Securities Exchange |
USD | United States Dollar |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 9 |
JPMorgan International Research Enhanced Equity ETF | |
ASSETS: | |
Investments in non-affiliates, at value | $4,864,955,292 |
Investments in affiliates, at value | 182,533,672 |
Investments of cash collateral received from securities loaned, at value (See Note 2.C.) | 13,828,971 |
Cash | 951,587 |
Foreign currency, at value | 2,234,728 |
Deposits at broker for futures contracts | 10,805,066 |
Receivables: | |
Dividends from non-affiliates | 10,912,690 |
Dividends from affiliates | 27,333 |
Tax reclaims | 15,357,574 |
Securities lending income (See Note 2.C.) | 747 |
Variation margin on futures contracts | 737,729 |
Total Assets | 5,102,345,389 |
LIABILITIES: | |
Payables: | |
Investment securities purchased | 820,596 |
Collateral received on securities loaned (See Note 2.C.) | 13,828,971 |
Accrued liabilities: | |
Investment advisory fees | 619,689 |
Administration fees | 327,495 |
Printing and mailing costs | 35,491 |
Custodian and accounting fees | 120,754 |
Trustees’ and Chief Compliance Officer’s fees | 26 |
Other | 55,328 |
Total Liabilities | 15,808,350 |
Net Assets | $5,086,537,039 |
NET ASSETS: | |
Paid-in-Capital | $5,171,202,489 |
Total distributable earnings (loss) | (84,665,450 ) |
Total Net Assets | $5,086,537,039 |
Outstanding number of shares (unlimited number of shares authorized - par value $0.0001) | 96,277,892 |
Net asset value, per share | $52.83 |
Cost of investments in non-affiliates | $4,597,931,676 |
Cost of investments in affiliates | 182,499,052 |
Cost of foreign currency | 2,229,822 |
Investment securities on loan, at value (See Note 2.C.) | 12,944,241 |
Cost of investment of cash collateral (See Note 2.C.) | 13,828,971 |
10 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
JPMorgan International Research Enhanced Equity ETF | |
INVESTMENT INCOME: | |
Interest income from non-affiliates | $681,561 |
Interest income from affiliates | 27,079 |
Dividend income from non-affiliates | 170,893,980 |
Dividend income from affiliates | 7,060,618 |
Income from securities lending (net) (See Note 2.C.) | 884,632 |
Foreign taxes withheld (net) | (15,361,583 ) |
Total investment income | 164,186,287 |
EXPENSES: | |
Investment advisory fees | 10,725,375 |
Administration fees | 4,021,991 |
Custodian and accounting fees | 648,638 |
Interest expense to non-affiliates | 18,676 |
Interest expense to affiliates | 13,124 |
Professional fees | 98,621 |
Trustees’ and Chief Compliance Officer’s fees | 39,135 |
Printing and mailing costs | 93,753 |
Registration and filing fees | 49,810 |
Other | 44,527 |
Total expenses | 15,753,650 |
Less fees waived | (180,035 ) |
Less expense reimbursements | (2,853,566 ) |
Net expenses | 12,720,049 |
Net investment income (loss) | 151,466,238 |
REALIZED/UNREALIZED GAINS (LOSSES): | |
Net realized gain (loss) on transactions from: | |
Investments in non-affiliates | (95,922,745 ) |
Investments in affiliates | (9,658 ) |
In-kind redemptions of investments in non-affiliates (See Note 4) | 361,193,647 |
Futures contracts | 7,082,856 |
Foreign currency transactions | (115,566 ) |
Net realized gain (loss) | 272,228,534 |
Change in net unrealized appreciation/depreciation on: | |
Investments in non-affiliates | 404,961,989 |
Investments in affiliates | 52,215 |
Futures contracts | (6,907,576 ) |
Foreign currency translations | 622,149 |
Change in net unrealized appreciation/depreciation | 398,728,777 |
Net realized/unrealized gains (losses) | 670,957,311 |
Change in net assets resulting from operations | $822,423,549 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 11 |
JPMorgan International Research Enhanced Equity ETF | ||
Year Ended October 31, 2023 | Year Ended October 31, 2022 (a) | |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS: | ||
Net investment income (loss) | $151,466,238 | $136,000,947 |
Net realized gain (loss) | 272,228,534 | 1,261,823 |
Change in net unrealized appreciation/depreciation | 398,728,777 | (1,400,778,956 ) |
Change in net assets resulting from operations | 822,423,549 | (1,263,516,186 ) |
Total distributions to shareholders | (129,393,763 ) | (199,297,281 ) |
CAPITAL TRANSACTIONS: | ||
Change in net assets resulting from capital transactions | (632,681,089 ) | 1,493,159,833 |
NET ASSETS: | ||
Change in net assets | 60,348,697 | 30,346,366 |
Beginning of period | 5,026,188,342 | 4,995,841,976 |
End of period | $5,086,537,039 | $5,026,188,342 |
12 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
JPMorgan International Research Enhanced Equity ETF | ||
Year Ended October 31, 2023 | Year Ended October 31, 2022(a) | |
CAPITAL TRANSACTIONS: (b) | ||
Proceeds from shares issued | $626,324,597 | $1,621,509,655 |
Distributions reinvested | — | 181,165,628 |
Cost of shares redeemed | (1,259,005,686 ) | (432,128,313 ) |
Change in net assets resulting from capital transactions | (632,681,089 ) | 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 | $(632,681,089 ) | $1,493,159,833 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 13 |
JPMorgan International Research Enhanced Equity ETF | ||
Year Ended October 31, 2023 | Year Ended October 31, 2022(a) | |
SHARES TRANSACTIONS: (b) | ||
Issued | 11,400,000 | 30,420,358 |
Reinvested | — | 3,138,911 |
Redeemed | (23,750,000 ) | (8,018,891 ) |
Change in Shares | (12,350,000 ) | 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 | October 31, 2023 |
Per share operating performance (a) | |||||
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 International Research Enhanced Equity ETF (e) | |||||
Year Ended October 31, 2023 | $46.27 | $1.54 | $6.33 | $7.87 | $(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 (f) | 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 ) |
(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) | Calculated based upon average shares outstanding. |
(c) | 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. |
(d) | 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. |
(e) | 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, 2018 up through the reorganization. |
(f) | 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%. |
16 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Ratios/Supplemental data | ||||||||
Ratios to average net assets | ||||||||
Net asset value, end of period | Market price, end of period | Total Return(c) | Market price total return(d) | Net assets, end of period | Net expenses | Net investment income (loss) | Expenses without waivers and reimbursements | Portfolio turnover rate |
$52.83 | $53.01 | 17.17 % | 17.54 % | $5,086,537,039 | 0.24 % | 2.82 % | 0.29 % | 16 % |
46.27 | 46.28 | (22.04 ) | (22.03 ) | 5,026,188,342 | 0.24 | 2.66 | 0.30 | 16 |
61.89 | 61.89 | 35.93 | 35.93 | 4,562,266,369 | 0.25 | 2.46 (f) | 0.31 | 20 |
46.43 | 46.43 | (8.96 ) | (8.96 ) | 4,337,775,495 | 0.24 | 2.35 | 0.30 | 52 |
52.55 | 52.55 | 10.78 | 10.78 | 4,435,538,473 | 0.25 | 3.37 | 0.31 | 22 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 17 |
18 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Common Stocks | ||||
Australia | $— | $329,554,067 | $— | $329,554,067 |
Belgium | — | 22,985,031 | — | 22,985,031 |
China | 16,843,615 | 11,050,565 | — | 27,894,180 |
Denmark | — | 169,789,985 | — | 169,789,985 |
Finland | — | 48,046,254 | — | 48,046,254 |
France | — | 618,814,736 | — | 618,814,736 |
Germany | — | 391,737,934 | — | 391,737,934 |
Hong Kong | — | 103,758,527 | — | 103,758,527 |
Ireland | — | 22,456,882 | — | 22,456,882 |
Italy | — | 51,352,381 | — | 51,352,381 |
Japan | — | 1,154,586,766 | — | 1,154,586,766 |
Macau | — | 5,984,965 | — | 5,984,965 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 19 |
(continued) | ||||
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Netherlands | $— | $308,637,597 | $— | $308,637,597 |
Singapore | 5,212,041 | 49,352,551 | — | 54,564,592 |
South Korea | — | 2,847,104 | — | 2,847,104 |
Spain | — | 103,053,687 | — | 103,053,687 |
Sweden | — | 127,785,590 | — | 127,785,590 |
Switzerland | 3,679,068 | 252,516,678 | — | 256,195,746 |
United Kingdom | — | 664,771,984 | — | 664,771,984 |
United States | — | 400,137,284 | — | 400,137,284 |
Total Common Stocks | 25,734,724 | 4,839,220,568 | — | 4,864,955,292 |
Short-Term Investments | ||||
Investment Companies | 182,533,672 | — | — | 182,533,672 |
Investment of Cash Collateral from Securities Loaned | 13,828,971 | — | — | 13,828,971 |
Total Short-Term Investments | 196,362,643 | — | — | 196,362,643 |
Total Investments in Securities | $222,097,367 | $4,839,220,568 | $— | $5,061,317,935 |
Depreciation in Other Financial Instruments | ||||
Futures Contracts | $(9,193,420 ) | $— | $— | $(9,193,420 ) |
20 | J.P. Morgan Exchange-Traded Funds | October 31, 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) | |
$12,944,241 | $(12,944,241 ) | $— |
* | Collateral posted reflects the value of securities on loan and does not include any additional amounts received from the borrower. |
$9,055 |
For the year ended October 31, 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 October 31, 2023 | Shares at October 31, 2023 | Dividend Income | Capital Gain Distributions |
JPMorgan Prime Money Market Fund Class IM Shares, 5.49% (a) (b) | $124,239,979 | $440,324,250 | $382,073,017 | $(9,658 ) | $52,118 | $182,533,672 | 182,460,687 | $7,060,618 | $— |
JPMorgan Securities Lending Money Market Fund Agency SL Class Shares, 5.53% (a) (b) | 56,261,418 | 663,000,001 | 707,265,926 | 4,410 * | 97 | 12,000,000 | 11,997,600 | 1,608,529 * | — |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.29% (a) (b) | 7,523,073 | 458,520,479 | 464,214,581 | — | — | 1,828,971 | 1,828,971 | 300,914 * | — |
Total | $188,024,470 | $1,561,844,730 | $1,553,553,524 | $(5,248 ) | $52,215 | $196,362,643 | $8,970,061 | $— |
(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 October 31, 2023. |
* | Amount is included on the Statement of Operations as Income from securities lending (net) (after payments of rebates and Citibank’s fee). |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 21 |
Futures Contracts: | |
Average Notional Balance Long | $126,614,435 |
Ending Notional Balance Long | 167,648,910 |
22 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Paid-in-Capital | Accumulated undistributed (distributions in excess of) net investment income | Accumulated net realized gains (losses) | |
$329,762,806 | $16,865,083 | $(346,627,889 ) |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 23 |
Contractual Reimbursements | |
$2,851,163 |
24 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Purchases (excluding U.S. Government) | Sales (excluding U.S. Government) | |
$842,118,347 | $899,238,975 |
In-Kind Purchases | In-Kind Sales | |
$587,422,409 | $1,204,331,340 |
Aggregate Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | |
$4,870,766,460 | $569,336,336 | $387,978,281 | $181,358,055 |
Ordinary Income* | Total Distributions Paid | |
$129,393,763 | $129,393,763 |
* | Short-term gain distributions are treated as ordinary income for income tax purposes. |
Ordinary Income* | Total Distributions Paid | |
$199,297,281 | $199,297,281 |
* | Short-term gain distributions are treated as ordinary income for income tax purposes. |
Current Distributable Ordinary Income | Current Distributable Long-Term Capital Gain (Tax Basis Capital Loss Carryover) | Unrealized Appreciation (Depreciation) | |
$155,491,641 | $(421,123,416 ) | $181,037,534 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 25 |
Capital Loss Carryforward Character | ||
Short-Term | Long-Term | |
$66,324,084 | $354,799,332 |
26 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
J.P. Morgan Investor Funds | JPMorgan SmartRetirement Funds | |
19.1 % | 56.1 % |
of cash collateral from securities loaned) as follows:
France | 12.3 % |
Japan | 22.9 |
United Kingdom | 13.2 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 27 |
28 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Name (Year of Birth); Positions With the Funds (1) | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee (2) | Other Directorships Held During the Past 5 Years |
Independent Trustees | |||
John F. Finn (1947); Chair since 2020; Trustee since 1998. | Chairman, Gardner, Inc. (supply chain management company serving industrial and consumer markets) (serving in various roles 1974-present). | 170 | Director, Greif, Inc. (GEF) (industrial package products and services) (2007-present); Trustee, Columbus Association for the Performing Arts (1988-present). |
Stephen P. Fisher (1959); Trustee since 2018. | Retired; Chairman and Chief Executive Officer, NYLIFE Distributors LLC (registered broker-dealer) (serving in various roles 2008-2013); Chairman, NYLIM Service Company LLC (transfer agent) (2008-2017); New York Life Investment Management LLC (registered investment adviser) (serving in various roles 2005-2017); Chairman, IndexIQ Advisors LLC (registered investment adviser for ETFs) (2014-2017); President, MainStay VP Funds Trust (2007-2017), MainStay DefinedTerm Municipal Opportunities Fund (2011-2017) and MainStay Funds Trust (2007-2017) (registered investment companies). | 170 | Honors Program Advisory Board Member, The Zicklin School of Business, Baruch College, The City University of New York (2017-present). |
Gary L. French (1951); Trustee since 2014. | Real Estate Investor (2011-2020); Investment management industry Consultant and Expert Witness (2011-present); Senior Consultant for The Regulatory Fundamentals Group LLC (2011-2017). | 170 | Independent Trustee, The China Fund, Inc. (2013-2019); Exchange Traded Concepts Trust II (2012-2014); Exchange Traded Concepts Trust I (2011-2014). |
Kathleen M. Gallagher (1958); Trustee since 2018. | Retired; Chief Investment Officer — Benefit Plans, Ford Motor Company (serving in various roles 1985-2016). | 170 | Non- Executive Director, Legal & General Investment Management (Holdings) (2018-present); Non-Executive Director, Legal & General Investment Management America (U.S. Holdings) (financial services and insurance) (2017-present); Advisory Board Member, State Street Global Advisors Total Portfolio Solutions (2017-present); Member, Client Advisory Council, Financial Engines, LLC (registered investment adviser) (2011-2016); Director, Ford Pension Funds Investment Management Ltd. (2007-2016). |
Robert J. Grassi (1957); Trustee since 2014. | Sole Proprietor, Academy Hills Advisors LLC (2012-present); Pension Director, Corning Incorporated (2002-2012). | 170 | None |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 29 |
Name (Year of Birth); Positions With the Funds (1) | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee (2) | Other Directorships Held During the Past 5 Years |
Independent Trustees (continued) | |||
Frankie D. Hughes (1952); Trustee since 2008. | President, Ashland Hughes Properties (property management) (2014-present); President and Chief Investment Officer, Hughes Capital Management, Inc. (fixed income asset management) (1993-2014). | 170 | None |
Raymond Kanner (1953); Trustee since 2017. | Retired; Managing Director and Chief Investment Officer, IBM Retirement Funds (2007-2016). | 170 | Advisory Board Member, Penso Advisors, LLC (2020-present); Advisory Board Member, Los Angeles Capital (2018-present); Advisory Board Member, State Street Global Advisors Total Portfolio Solutions (2017- present); Acting Executive Director, Committee on Investment of Employee Benefit Assets (CIEBA) (2016-2017); Advisory Board Member, Betterment for Business (robo advisor) (2016- 2017); Advisory Board Member, BlueStar Indexes (index creator) (2013-2017); Director, Emerging Markets Growth Fund (registered investment company) (1997-2016); Member, Russell Index Client Advisory Board (2001-2015). |
Thomas P. Lemke (1954); Trustee since 2014. | Retired since 2013. | 170 | (1) Independent Trustee of Advisors’ Inner Circle III fund platform, consisting of the following: (i) the Advisors’ Inner Circle Fund III, (ii) the Gallery Trust, (iii) the Schroder Series Trust, (iv) the Delaware Wilshire Private Markets Fund (since 2020), (v) Chiron Capital Allocation Fund Ltd., and (vi) formerly the Winton Diversified Opportunities Fund (2014-2018); and (2) Independent Trustee of the Symmetry Panoramic Trust (since 2018). |
Lawrence R. Maffia (1950); Trustee since 2014. | Retired; Director and President, ICI Mutual Insurance Company (2006-2013). | 170 | Director, ICI Mutual Insurance Company (1999-2013). |
Mary E. Martinez (1960); Vice Chair since 2021; Trustee since 2013. | Associate, Special Properties, a Christie’s International Real Estate Affiliate (2010-present); Managing Director, Bank of America (asset management) (2007-2008); Chief Operating Officer, U.S. Trust Asset Management, U.S. Trust Company (asset management) (2003-2007); President, Excelsior Funds (registered investment companies) (2004-2005). | 170 | None |
Marilyn McCoy (1948); Trustee since 1999. | Retired; Vice President of Administration and Planning, Northwestern University (1985-2023). | 170 | None |
30 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Name (Year of Birth); Positions With the Funds (1) | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee (2) | Other Directorships Held During the Past 5 Years |
Independent Trustees (continued) | |||
Dr. Robert A. Oden, Jr. (1946); Trustee since 1997. | Retired; President, Carleton College (2002-2010); President, Kenyon College (1995-2002). | 170 | Trustee, The Coldwater Conservation Fund (2017-present); Trustee, American Museum of Fly Fishing (2013-present); Trustee and Vice Chair, Trout Unlimited (2017-2021); Trustee, Dartmouth- Hitchcock Medical Center (2011-2020). |
Marian U. Pardo* (1946); Trustee since 2013. | Managing Director and Founder, Virtual Capital Management LLC (investment consulting) (2007-present); Managing Director, Credit Suisse Asset Management (portfolio manager) (2003-2006). | 170 | Board Chair and Member, Board of Governors, Columbus Citizens Foundation (not-for-profit supporting philanthropic and cultural programs) (2006-present). |
Emily A. Youssouf (1951); Trustee since 2014. | Adjunct Professor (2011-present) and Clinical Professor (2009-2011), NYU Schack Institute of Real Estate; Board Member and Member of the Audit Committee (2013–present), Chair of Finance Committee (2019-present), Member of Related Parties Committee (2013-2018) and Member of the Enterprise Risk Committee (2015-2018), PennyMac Financial Services, Inc.; Board Member (2005-2018), Chair of Capital Committee (2006-2016), Chair of Audit Committee (2005-2018), Member of Finance Committee (2005-2018) and Chair of IT Committee (2016-2018), NYC Health and Hospitals Corporation. | 170 | Trustee, NYC School Construction Authority (2009-present); Board Member, NYS Job Development Authority (2008-present); Trustee and Chair of the Audit Committee of the Transit Center Foundation (2015-2019). |
Interested Trustees | |||
Robert F. Deutsch** (1957); Trustee since 2014. | Retired; Head of ETF Business for JPMorgan Asset Management (2013-2017); Head of Global Liquidity Business for JPMorgan Asset Management (2003-2013). | 170 | Treasurer and Director of the JUST Capital Foundation (2017-present). |
Nina O. Shenker** (1957); Trustee since 2022. | Vice Chair (2017-2021), General Counsel and Managing Director (2008-2016), Associate General Counsel and Managing Director (2004-2008), J.P. Morgan Asset & Wealth Management. | 170 | Director and Member of Legal and Human Resources Subcommittees, American Jewish Joint Distribution Committee (2018-present). |
(1) | The year shown is the first year in which a Trustee became a member of any of the following: the JPMorgan Mutual Fund Board, the JPMorgan ETF Board, the heritage J.P. Morgan Funds or the heritage One Group Mutual Funds. Trustees serve an indefinite term, until resignation, retirement, removal or death. The Board's current retirement policy sets retirement at the end of the calendar year in which the Trustee attains the age of 75, provided that any Board member who was a member of the JPMorgan Mutual Fund Board prior to January 1, 2022 and was born prior to January 1, 1950 shall retire from the Board at the end of the calendar year in which the Trustee attains the age of 78. | ||
(2) | A Fund Complex means two or more registered investment companies that hold themselves out to investors as related companies for purposes of investment and investor services or have a common investment adviser or have an investment adviser that is an affiliated person of the investment adviser of any of the other registered investment companies. The J.P. Morgan Funds Complex for which the Board of Trustees serves currently includes nine registered investment companies (170 J.P. Morgan Funds). | ||
* | In connection with prior employment with JPMorgan Chase, Ms. Pardo was the recipient of non-qualified pension plan payments from JPMorgan Chase in the amount of approximately $2,055 per month, which she irrevocably waived effective January 1, 2013, and deferred compensation payments from JPMorgan Chase in the amount of approximately $7,294 per year, which ended in January 2013. In addition, Ms. Pardo receives payments from a fully-funded qualified plan, which is not an obligation of JPMorgan Chase. |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 31 |
** | Designation as an “Interested Trustee” is based on prior employment by the Adviser or an affiliate of the Adviser or interests in a control person of the Adviser. | ||
The contact address for each of the Trustees is 277 Park Avenue, New York, NY 10172. |
32 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Name (Year of Birth), Positions Held with the Trust (Since) | Principal Occupations During Past 5 Years |
Brian S. Shlissel (1964), President and Principal Executive Officer (2021) | Managing Director and Chief Administrative Officer for J.P. Morgan pooled vehicles, J.P. Morgan Investment Management Inc. since 2014. |
Timothy J. Clemens (1975), Treasurer and Principal Financial Officer (2020) | Managing Director, J.P. Morgan Investment Management Inc. Mr. Clemens has been with J.P. Morgan Investment Management Inc. since 2013. |
Gregory S. Samuels (1980), Secretary (2022) (formerly Assistant Secretary 2014-2022) | Managing Director and Assistant General Counsel, JPMorgan Chase & Co. Mr. Samuels has been with JPMorgan Chase & Co. since 2010. |
Stephen M. Ungerman (1953), Chief Compliance Officer (2014) | Managing Director, JPMorgan Chase & Co. Mr. Ungerman has been with JPMorgan Chase & Co. since 2000. |
Kiesha Astwood-Smith (1973), Assistant Secretary (2021) | Vice President and Assistant General Counsel, JPMorgan Chase & Co. since June 2021; Senior Director and Counsel, Equitable Financial Life Insurance Company (formerly, AXA Equitable Life Insurance Company) from September 2015 through June 2021. |
Matthew Beck (1988), Assistant Secretary (2021)* | Vice President and Assistant General Counsel, JPMorgan Chase & Co. since May 2021; Senior Legal Counsel, Ultimus Fund Solutions from May 2018 through May 2021; General Counsel, The Nottingham Company from April 2014 through May 2018. |
Elizabeth A. Davin (1964), Assistant Secretary (2022) (formerly Secretary 2018-2022)* | Executive Director and Assistant General Counsel, JPMorgan Chase & Co. Ms. Davin has been with JPMorgan Chase & Co. (formerly Bank One Corporation) since 2004. |
Jessica K. Ditullio (1962), Assistant Secretary (2014)* | Executive Director and Assistant General Counsel, JPMorgan Chase & Co. Ms. Ditullio has been with JPMorgan Chase & Co. (formerly Bank One Corporation) since 1990. |
Anthony Geron (1971), Assistant Secretary (2019) | Vice President and Assistant General Counsel, JPMorgan Chase & Co. since September 2018; Lead Director and Counsel, AXA Equitable Life Insurance Company from 2015 to 2018 and Senior Director and Counsel, AXA Equitable Life Insurance Company from 2014 to 2015. |
Carmine Lekstutis (1980), Assistant Secretary (2014) | Executive Director and Assistant General Counsel, JPMorgan Chase & Co. Mr. Lekstutis has been with JPMorgan Chase & Co. since 2011. |
Max Vogel (1990), Assistant Secretary (2021) | Vice President and Assistant General Counsel, JPMorgan Chase & Co. since June 2021; Associate, Proskauer Rose LLP (law firm) from March 2017 to June 2021. |
Zachary E. Vonnegut-Gabovitch (1986), Assistant Secretary (2017) | Executive Director and Assistant General Counsel, JPMorgan Chase & Co. Mr. Vonnegut-Gabovitch has been with JPMorgan Chase & Co. since September 2016. |
Frederick J. Cavaliere (1978), Assistant Treasurer (2015)** | Executive Director, J.P. Morgan Investment Management Inc. Mr. Cavaliere has been with JPMorgan Chase & Co. since May 2006. |
Michael M. D’Ambrosio (1969), Assistant Treasurer (2014) | Managing Director, J.P. Morgan Investment Management Inc. Mr. D’Ambrosio has been with J.P. Morgan Investment Management Inc. since 2012. |
Aleksandr Fleytekh (1972), Assistant Treasurer (2023) | Executive Director, J.P. Morgan Investment Management Inc. Mr. Fleytekh has been with J.P. Morgan Investment Management Inc. since February 2012. |
Shannon Gaines (1977), Assistant Treasurer (2019)* | Executive Director, J.P. Morgan Investment Management Inc. Mr. Gaines has been with J.P. Morgan Investment Management Inc. since January 2014. |
Jeffrey D. House (1972), Assistant Treasurer (2023)* | Vice President, J.P. Morgan Investment Management Inc. Mr. House has been with J.P. Morgan Investment Management Inc. since July 2006. |
Michael Mannarino (1985), Assistant Treasurer (2023) | Vice President, J.P. Morgan Investment Management Inc. Mr. Mannarino has been with J.P. Morgan Investment Management Inc. since 2014. |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 33 |
Nektarios E. Manolakakis (1972), Assistant Treasurer (2020) | Executive Director, J.P. Morgan Investment Management Inc. since February 2021, formerly Vice President, J.P. Morgan Investment Management Inc. since 2014; Vice President, J.P. Morgan Corporate & Investment Bank 2010-2014. |
Todd McEwen (1981), Assistant Treasurer (2020)* | Vice President, J.P. Morgan Investment Management Inc. Mr. McEwen has been with J.P. Morgan Investment Management Inc. since 2010. |
Joseph Parascondola (1963), Assistant Treasurer (2023)** | Executive Director, J.P. Morgan Investment Management Inc. Mr. Parascondola has been with J.P. Morgan Investment Management Inc. since 2006. |
Gillian I. Sands (1969), Assistant Treasurer (2023) | Executive Director, J.P. Morgan Investment Management Inc. Ms. Sands has been with J.P. Morgan Investment Management Inc. since September 2012. |
The contact address for each of the officers, unless otherwise noted, is 277 Park Avenue, New York, NY 10172. | |
* | The contact address for the officer is 1111 Polaris Parkway, Columbus, OH 43240. |
** | The contact address for the officer is 575 Washington Boulevard, Jersey City, NJ 07310. |
34 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
Beginning Account Value May 1, 2023 | Ending Account Value October 31, 2023 | Expenses Paid During the Period* | Annualized Expense Ratio | |
JPMorgan International Research Enhanced Equity ETF | ||||
Actual | $1,000.00 | $929.90 | $1.17 | 0.24 % |
Hypothetical | 1,000.00 | 1,024.00 | 1.22 | 0.24 |
* | Expenses are equal to Fund’s annualized net expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 35 |
36 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 37 |
38 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
October 31, 2023 | J.P. Morgan Exchange-Traded Funds | 39 |
40 | J.P. Morgan Exchange-Traded Funds | October 31, 2023 |
ITEM 2. CODE OF ETHICS.
Disclose whether, as of the end of the period covered by the report, the registrant has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. If the registrant has not adopted such a code of ethics, explain why it has not done so.
The registrant must briefly describe the nature of any amendment, during the period covered by the report, to a provision of its code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics definition enumerated in paragraph (b) of this Item. The registrant must file a copy of any such amendment as an exhibit pursuant to Item 13(a)(1), unless the registrant has elected to satisfy paragraph (f) of this Item by positing its code of ethics on its website pursuant to paragraph (f)(2) of this Item, or by undertaking to provide its code of ethics to any person without charge, upon request, pursuant to paragraph (f)(3) of this Item.
If the registrant has, during the period covered by the report, granted a waiver, including an implicit waiver, from a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or third party, that relates to one or more items set forth in paragraph (b) of this Item, the registrant must briefly describe the nature of the waiver, the name of the person to whom the waiver was granted, and the date of the waiver.
The Registrant has adopted a code of ethics that applies to the Registrant’s principal executive officer and principal financial officer. There were no amendments to the code of ethics or waivers granted with respect to the code of ethics in the period covered by the report.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
(a) | (1) Disclose that the registrant’s board of directors has determined that the registrant either: |
(i) | Has at least one audit committee financial expert serving on its audit committee; or |
(ii) | Does not have an audit committee financial expert serving on its audit committee. |
The Registrant’s Board of Trustees has determined that the Registrant has at least one audit committee financial expert serving on its audit committee. The Securities and Exchange Commission has stated that the designation or identification of a person as an audit committee financial expert pursuant to this Item 3 of Form N-CSR does not impose on such person any duties, obligations or liabilities that are greater than the duties, obligations and liabilities imposed on such person as a member of the Audit Committee and the Board of Trustees in the absence of such designation or identification.
(2) If the registrant provides the disclosure required by paragraph (a)(1)(i) of this Item, it must disclose the name of the audit committee financial expert and whether that person is “independent.” In order to be considered “independent” for purposes of this Item, a member of an audit committee may not, other than in his or her capacity as a member of the audit committee, the board of directors, or any other board committee:
(i) | Accept directly or indirectly any consulting, advisory, or other compensatory fee from the issuer; or |
(ii) | Be an “interested person” of the investment company as defined in Section 2(a)(19) of the Act (15 U.S.C. 80a-2(a)(19)). |
The Audit committee financial experts are Gary L. French, Kathleen M. Gallagher, Raymond Kanner and Lawrence R. Maffia, each of whom is not an “interested person” of the Registrant and is also “independent” as defined by the U.S. Securities and Exchange Commission for the purposes of the audit committee financial expert determination.
(3) If the registrant provides the disclosure required by paragraph (a)(1)(ii) of this Item, it must explain why it does not have an audit committee financial expert.
Not applicable.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
(a) Disclose, under the caption Audit Fees, the aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years.
AUDIT FEES
2023 – $863,957
2022 – $641,349
(b) Disclose, under the caption Audit-Related Fees, the aggregate fees billed in each of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item. Registrants shall describe the nature of the services comprising the fees disclosed under this category.
AUDIT-RELATED FEES
2023 – $220,032
2022 – $175,911
Audit-related fees consist of security count procedures performed as required under Rule 17f-2 of the Investment Company Act of 1940 during the Registrant’s fiscal year.
(c) Disclose, under the caption Tax Fees, the aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning. Registrants shall describe the nature of the services comprising the fees disclosed under this category.
TAX FEES
2023 – $331,063
2022 – $276,692
The tax fees consist of fees billed in connection with preparing the federal regulated investment company income tax returns for the Registrant for the tax years ended October 31, 2023 and 2022, respectively.
For the last fiscal year, no tax fees were required to be approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X.
(d) Disclose, under the caption All Other Fees, the aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item. Registrants shall describe the nature of the services comprising the fees disclosed under this category.
ALL OTHER FEES
2023 – $0
2022 – $0
(e)(1) Disclose the audit committee’s pre-approval policies and procedures described in paragraph (c)(7) of Rule 2-01 of Regulation S-X.
Pursuant to the Registrant’s Audit Committee Charter and written policies and procedures for the pre-approval of audit and non-audit services (the “Pre-approval Policy”), the Audit Committee pre-approves all audit and non-audit services performed by the Registrant’s independent public registered accounting firm for the Registrant. In addition, the Audit Committee pre-approves the auditor’s engagement for non-audit services with the Registrant’s investment adviser (not including a sub-adviser whose role is primarily portfolio management and is sub-contracted or overseen by another investment adviser) and any Service Affiliate in accordance with paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, if the engagement relates directly to the operations and financial reporting of the Registrant. Proposed services may be pre-approved either 1) without consideration of specific case-by-case services or 2) require the specific pre-approval of the Audit Committee. Therefore, initially the Pre-approval Policy listed a number of audit and non-audit services that have been approved by the Audit Committee, or which were not subject to pre-approval under the transition provisions of Sarbanes-Oxley Act of 2002 (the “Pre-approval List”). The Audit Committee annually reviews and pre-approves the services included on the Pre-approval List that may be provided by the independent public registered accounting firm without obtaining additional specific pre-approval of individual services from the Audit Committee. The Audit Committee adds to, or subtracts from, the list of general pre-approved services from time to time, based on subsequent determinations. All other audit and non-audit services not on the Pre-approval List must be specifically pre-approved by the Audit Committee.
One or more members of the Audit Committee may be appointed as the Committee’s delegate for the purposes of considering whether to approve such services. Any pre-approvals granted by the delegate will be reported, for informational purposes only, to the Audit Committee at its next scheduled meeting. The Audit Committee’s responsibilities to pre-approve services performed by the independent public registered accounting firm are not delegated to management.
(2) Disclose the percentage of services described in each of paragraphs (b) through (d) of this Item that were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.
2023 – 0.0%
2022 – 0.0%
(f) If greater than 50 percent, disclose the percentage of hours expended on the principal accountant’s engagement to audit the registrant’s financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees.
Not applicable.
(g) Disclose the aggregate non-audit fees billed by the registrant’s accountant for services rendered to the registrant, and rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for each of the last two fiscal years of the registrant.
The aggregate non-audit fees billed by the independent registered public accounting firm for services rendered to the Registrant, and rendered to Service Affiliates, for the last two calendar year ends were:
2022 – $32.2 million
2021 – $30.5 million
(h) Disclose whether the registrant’s audit committee of the board of directors has considered whether the provision of non-audit services that were rendered to the registrant’s investment adviser (not including any subadviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence.
The Registrant’s Audit Committee has considered whether the provision of the non-audit services that were rendered to Service Affiliates that were not pre-approved (not requiring pre-approval) is compatible with maintaining the independent public registered accounting firm’s independence. All services provided by the independent public registered accounting firm to the Registrant or to Service Affiliates that were required to be pre-approved were pre-approved as required.
(i) A registrant identified by the Commission pursuant to Section 104(i)(2)(A) of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7214(i)(2)(A)), as having retained, for the preparation of the audit report on its financial statements included in the Form NCSR, a registered public accounting firm that has a branch or office that is located in a foreign jurisdiction and that the Public Company Accounting Oversight Board has determined it is unable to inspect or investigate completely because of a position taken by an authority in the foreign jurisdiction must electronically submit to the Commission on a supplemental basis documentation that establishes that the registrant is not owned or controlled by a governmental entity in the foreign jurisdiction. The registrant must submit this documentation on or before the due date for this form. A registrant that is owned or controlled by a foreign governmental entity is not required to submit such documentation.
Not applicable.
(j) A registrant that is a foreign issuer, as defined in 17 CFR 240.3b-4, identified by the Commission pursuant to Section 104(i)(2)(A) of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7214(i)(2)(A)), as having retained, for the preparation of the audit report on its financial statements included in the Form N-CSR, a registered public accounting firm that has a branch or office that is located in a foreign jurisdiction and that the Public Company Accounting Oversight Board has determined it is unable to inspect or investigate completely because of a position taken by an authority in the foreign jurisdiction, for each year in which the registrant is so identified, must provide the below disclosures. Also, any such identified foreign issuer that uses a variable-interest entity or any similar structure that results in additional foreign entities being consolidated in the financial statements of the registrant is required to provide the below disclosures for itself and its consolidated foreign operating entity or entities. A registrant must disclose:
(1) | That, for the immediately preceding annual financial statement period, a registered public accounting firm that the PCAOB was unable to inspect or investigate completely, because of a position taken by an authority in the foreign jurisdiction, issued an audit report for the registrant; |
(2) | The percentage of shares of the registrant owned by governmental entities in the foreign jurisdiction in which the registrant is incorporated or otherwise organized; |
(3) | Whether governmental entities in the applicable foreign jurisdiction with respect to that registered public accounting firm have a controlling financial interest with respect to the registrant; |
(4) | The name of each official of the Chinese Communist Party who is a member of the board of directors of the registrant or the operating entity with respect to the registrant; and |
(5) | Whether the articles of incorporation of the registrant (or equivalent organizing document) contains any charter of the Chinese Communist Party, including the text of any such charter. |
Not applicable.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
(a) If the registrant is a listed issuer as defined in Rule 10A-3 under the Exchange Act (17CFR 240.10A-3), state whether or not the registrant has a separately-designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Exchange Act (15 U.S.C. 78c(a)(58)(A)). If the registrant has such a committee, however designated, identify each committee member. If the entire board of directors is acting as the registrant’s audit committee as specified in Section 3(a)(58)(B) of the Exchange Act (15
U.S.C. 78c(a)(58)(B)), so state.
The registrant has a separately designated Audit Committee established in accordance with Section 3(a)(58)(A) of the Exchange Act. The members of the Audit Committee are Gary L. French, Kathleen M. Gallagher, Raymond Kanner and Lawrence R. Maffia.
(b) If applicable, provide the disclosure required by Rule 10A-3(d) under the Exchange Act (17CFR 240.10A-3(d)) regarding an exemption from the listing standards for all audit committees.
Not applicable.
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.
A closed-end management investment company that is filing an annual report on this Form N-CSR must, unless it invests exclusively in non-voting securities, describe the policies and procedures that it uses to determine how to vote proxies relating to portfolio securities, including the procedures that the company uses when a vote presents a conflict between the interests of its shareholders, on the one hand, and those of the company’s investment adviser; principal underwriter; or any affiliated person (as defined in Section 2(a)(3) of the Investment Company Act of 1940 (15 U.S.C. 80a-2(a)(3)) and the rules thereunder) of the company, its investment adviser, or its principal underwriter, on the other. Include any policies and procedures of the company’s investment adviser, or any other third party, that the company uses, or that are used on the company’s behalf, to determine how to vote proxies relating to portfolio securities.
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.
(a) If the registrant is a closed-end management investment company, provide the information specified in paragraph (b) of this Item with respect to any purchase made by or on behalf of the registrant or any “affiliated purchaser,” as defined in Rule 10b-18(a)(3) under the Exchange Act (17 CFR 240.10b-18(a)(3)), of shares or other units of any class of the registrant’s equity securities that is registered by the registrant pursuant to Section 12 of the Exchange Act (15 U.S.C. 781).
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 reporting period 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.
(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. | ||
December 28, 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 | ||
December 28, 2023 | ||
By: | /s/ Timothy J. Clemens | |
Timothy J. Clemens | ||
Treasurer and Principal Financial Officer | ||
December 28, 2023 |