JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
Schedule of Portfolio Investments as of May 31, 2024
(Unaudited)
THE “UNAUDITED EXCHANGE-TRADED FUNDS HOLDINGS” LIST (“the List”) IS TO BE USED FOR REPORTING PURPOSES ONLY. IT IS NOT TO BE REPRODUCED FOR USE AS ADVERTISING OR SALES LITERATURE WITH THE GENERAL PUBLIC. The list is submitted for the general information of the shareholders of the Fund. It is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by a prospectus. The list has been created from the books and records of the Fund. Holdings are available 60 days after the fund’s fiscal quarter, using a trade date accounting convention, by contacting the appropriate service center. The list is subject to change without notice. The list is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. |
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© J.P. Morgan Chase & Co., 2024. |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — 98.4% | ||
Aerospace & Defense — 3.0% | ||
Boeing Co. (The) | ||
2.25%, 6/15/2026 | 39,000 | 36,212 |
2.80%, 3/1/2027 | 47,000 | 43,131 |
3.60%, 5/1/2034 | 230,000 | 182,833 |
3.25%, 2/1/2035 | 37,000 | 27,969 |
3.55%, 3/1/2038 | 18,000 | 12,989 |
3.38%, 6/15/2046 | 16,000 | 10,194 |
5.81%, 5/1/2050 | 29,000 | 25,961 |
GE Capital Funding LLC 4.55%, 5/15/2032 | 50,000 | 47,646 |
General Dynamics Corp. | ||
4.25%, 4/1/2040 | 53,000 | 46,646 |
2.85%, 6/1/2041 | 2,000 | 1,435 |
3.60%, 11/15/2042 | 50,000 | 39,426 |
4.25%, 4/1/2050 | 12,000 | 10,066 |
Hexcel Corp. 4.20%, 2/15/2027 (a) | 5,000 | 4,797 |
Huntington Ingalls Industries, Inc. 4.20%, 5/1/2030 | 152,000 | 141,970 |
L3Harris Technologies, Inc. | ||
4.40%, 6/15/2028 | 150,000 | 145,213 |
2.90%, 12/15/2029 | 12,000 | 10,635 |
Lockheed Martin Corp. | ||
3.55%, 1/15/2026 | 54,000 | 52,677 |
4.50%, 5/15/2036 | 27,000 | 25,138 |
5.72%, 6/1/2040 (a) | 85,000 | 87,419 |
4.15%, 6/15/2053 | 48,000 | 38,726 |
5.90%, 11/15/2063 | 32,000 | 33,700 |
Northrop Grumman Corp. | ||
3.25%, 1/15/2028 | 90,000 | 84,594 |
3.85%, 4/15/2045 | 68,000 | 53,250 |
4.03%, 10/15/2047 | 41,000 | 32,523 |
RTX Corp. | ||
3.13%, 5/4/2027 | 146,000 | 138,165 |
4.13%, 11/16/2028 | 34,000 | 32,576 |
4.45%, 11/16/2038 | 40,000 | 35,237 |
2.82%, 9/1/2051 | 11,000 | 6,694 |
Textron, Inc. 3.38%, 3/1/2028 | 35,000 | 32,610 |
1,440,432 | ||
Air Freight & Logistics — 0.4% | ||
FedEx Corp. | ||
2.40%, 5/15/2031 | 97,000 | 81,477 |
4.05%, 2/15/2048 | 6,000 | 4,589 |
United Parcel Service, Inc. | ||
4.25%, 3/15/2049 | 98,000 | 81,041 |
5.30%, 4/1/2050 | 18,000 | 17,420 |
184,527 | ||
Automobile Components — 0.1% | ||
Lear Corp. 3.50%, 5/30/2030 | 28,000 | 25,123 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Automobiles — 0.7% | ||
Ford Motor Co. | ||
6.63%, 10/1/2028 | 55,000 | 57,060 |
6.10%, 8/19/2032 | 28,000 | 27,902 |
4.75%, 1/15/2043 | 49,000 | 39,605 |
General Motors Co. | ||
6.13%, 10/1/2025 | 116,000 | 116,577 |
5.00%, 4/1/2035 | 15,000 | 13,967 |
5.40%, 4/1/2048 | 10,000 | 8,902 |
5.95%, 4/1/2049 | 64,000 | 61,691 |
Toyota Motor Corp. (Japan) | ||
1.34%, 3/25/2026 | 22,000 | 20,578 |
5.12%, 7/13/2033 | 2,000 | 2,073 |
348,355 | ||
Banks — 16.6% | ||
Banco Santander SA (Spain) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.00%), 4.18%, 3/24/2028 (b) | 200,000 | 192,023 |
Bank of America Corp. | ||
3.50%, 4/19/2026 | 37,000 | 35,835 |
4.25%, 10/22/2026 | 16,000 | 15,585 |
(SOFR + 1.29%), 5.08%, 1/20/2027 (b) | 44,000 | 43,688 |
Series N, (SOFR + 0.91%), 1.66%, 3/11/2027 (b) | 82,000 | 76,657 |
(3-MONTH CME TERM SOFR + 1.32%), 3.56%, 4/23/2027 (b) | 47,000 | 45,346 |
(SOFR + 1.34%), 5.93%, 9/15/2027 (b) | 2,000 | 2,019 |
Series L, 4.18%, 11/25/2027 | 213,000 | 205,390 |
(SOFR + 1.05%), 2.55%, 2/4/2028 (b) | 266,000 | 247,188 |
(SOFR + 2.04%), 4.95%, 7/22/2028 (b) | 47,000 | 46,427 |
(3-MONTH CME TERM SOFR + 1.30%), 3.42%, 12/20/2028 (b) | 105,000 | 98,283 |
(3-MONTH CME TERM SOFR + 1.44%), 3.19%, 7/23/2030 (b) | 75,000 | 67,650 |
(3-MONTH CME TERM SOFR + 1.25%), 2.50%, 2/13/2031 (b) | 237,000 | 203,142 |
Series N, (SOFR + 1.22%), 2.65%, 3/11/2032 (b) | 36,000 | 30,251 |
(SOFR + 1.32%), 2.69%, 4/22/2032 (b) | 237,000 | 199,094 |
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.20%), 2.48%, 9/21/2036 (b) | 39,000 | 31,180 |
(3-MONTH CME TERM SOFR + 2.25%), 4.44%, 1/20/2048 (b) | 50,000 | 42,844 |
(3-MONTH CME TERM SOFR + 3.41%), 4.08%, 3/20/2051 (b) | 33,000 | 26,332 |
Bank of Montreal (Canada) (SOFR + 0.60%), 0.95%, 1/22/2027 (b) | 90,000 | 83,677 |
Bank of Nova Scotia (The) (Canada) | ||
4.85%, 2/1/2030 | 45,000 | 44,092 |
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.05%), 4.59%, 5/4/2037 (b) (c) | 16,000 | 14,346 |
Barclays plc (United Kingdom) | ||
4.38%, 1/12/2026 | 200,000 | 195,976 |
(SOFR + 2.21%), 5.83%, 5/9/2027 (b) | 200,000 | 200,092 |
Canadian Imperial Bank of Commerce (Canada) 6.09%, 10/3/2033 | 48,000 | 49,557 |
Citibank NA 5.86%, 9/29/2025 | 250,000 | 251,582 |
Citigroup, Inc. | ||
4.60%, 3/9/2026 | 1,000 | 983 |
3.20%, 10/21/2026 | 197,000 | 187,318 |
(SOFR + 1.89%), 4.66%, 5/24/2028 (b) | 50,000 | 49,107 |
(SOFR + 1.42%), 2.98%, 11/5/2030 (b) | 179,000 | 158,646 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Banks — continued | ||
(SOFR + 1.15%), 2.67%, 1/29/2031 (b) | 137,000 | 118,681 |
(SOFR + 3.91%), 4.41%, 3/31/2031 (b) | 179,000 | 170,002 |
4.75%, 5/18/2046 | 30,000 | 26,271 |
Citizens Financial Group, Inc. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.75%), 5.64%, 5/21/2037 (b) | 23,000 | 21,263 |
Cooperatieve Rabobank UA (Netherlands) 5.25%, 5/24/2041 | 150,000 | 149,575 |
Fifth Third Bancorp | ||
(SOFRINDX + 2.19%), 6.36%, 10/27/2028 (b) | 116,000 | 118,112 |
8.25%, 3/1/2038 | 35,000 | 41,021 |
Goldman Sachs Capital I 6.35%, 2/15/2034 | 51,000 | 52,535 |
HSBC Holdings plc (United Kingdom) | ||
(SOFR + 1.29%), 1.59%, 5/24/2027 (b) | 200,000 | 185,564 |
(SOFR + 1.29%), 2.21%, 8/17/2029 (b) | 200,000 | 175,070 |
(SOFR + 2.87%), 5.40%, 8/11/2033 (b) | 271,000 | 267,577 |
6.80%, 6/1/2038 | 149,000 | 159,072 |
6.10%, 1/14/2042 | 15,000 | 16,027 |
Huntington Bancshares, Inc. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.17%), 2.49%, 8/15/2036 (b) | 45,000 | 33,968 |
KeyCorp (SOFRINDX + 2.06%), 4.79%, 6/1/2033 (b) | 88,000 | 79,942 |
Lloyds Banking Group plc (United Kingdom) 4.55%, 8/16/2028 | 200,000 | 193,423 |
M&T Bank Corp. (SOFR + 1.85%), 5.05%, 1/27/2034 (b) | 48,000 | 44,161 |
Mitsubishi UFJ Financial Group, Inc. (Japan) | ||
3.96%, 3/2/2028 | 50,000 | 47,982 |
4.05%, 9/11/2028 | 5,000 | 4,810 |
3.74%, 3/7/2029 | 260,000 | 244,170 |
4.15%, 3/7/2039 | 14,000 | 12,351 |
Mizuho Financial Group, Inc. (Japan) 4.02%, 3/5/2028 | 200,000 | 191,651 |
PNC Financial Services Group, Inc. (The) | ||
3.15%, 5/19/2027 | 96,000 | 90,963 |
3.45%, 4/23/2029 | 261,000 | 240,931 |
Regions Financial Corp. 7.38%, 12/10/2037 | 25,000 | 27,471 |
Royal Bank of Canada (Canada) | ||
5.00%, 2/1/2033 | 128,000 | 125,469 |
5.00%, 5/2/2033 | 105,000 | 103,316 |
5.15%, 2/1/2034 | 17,000 | 16,754 |
Santander Holdings USA, Inc. | ||
4.50%, 7/17/2025 | 91,000 | 89,572 |
4.40%, 7/13/2027 | 93,000 | 89,744 |
Sumitomo Mitsui Financial Group, Inc. (Japan) | ||
3.78%, 3/9/2026 | 75,000 | 72,991 |
3.35%, 10/18/2027 | 39,000 | 36,686 |
3.94%, 7/19/2028 | 5,000 | 4,770 |
4.31%, 10/16/2028 | 12,000 | 11,662 |
2.14%, 9/23/2030 (c) | 31,000 | 25,601 |
2.93%, 9/17/2041 | 84,000 | 61,311 |
Synovus Financial Corp. 5.20%, 8/11/2025 | 6,000 | 5,926 |
Toronto-Dominion Bank (The) (Canada) | ||
3.77%, 6/6/2025 | 248,000 | 243,772 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Banks — continued | ||
2.00%, 9/10/2031 | 37,000 | 29,843 |
Truist Financial Corp. | ||
(SOFR + 1.46%), 4.26%, 7/28/2026 (b) | 54,000 | 53,110 |
3.88%, 3/19/2029 | 21,000 | 19,503 |
(SOFR + 2.36%), 5.87%, 6/8/2034 (b) | 50,000 | 50,184 |
US Bancorp | ||
(SOFR + 2.02%), 5.78%, 6/12/2029 (b) | 28,000 | 28,303 |
1.38%, 7/22/2030 | 3,000 | 2,400 |
(SOFR + 1.02%), 2.68%, 1/27/2033 (b) | 37,000 | 30,318 |
(SOFR + 2.11%), 4.97%, 7/22/2033 (b) | 55,000 | 51,363 |
(SOFR + 1.60%), 4.84%, 2/1/2034 (b) | 21,000 | 19,770 |
(SOFR + 2.26%), 5.84%, 6/12/2034 (b) | 39,000 | 39,288 |
Wells Fargo & Co. | ||
(SOFR + 1.98%), 4.81%, 7/25/2028 (b) | 20,000 | 19,643 |
(SOFR + 1.74%), 5.57%, 7/25/2029 (b) | 28,000 | 28,167 |
(3-MONTH CME TERM SOFR + 1.43%), 2.88%, 10/30/2030 (b) | 249,000 | 219,343 |
(SOFR + 2.02%), 5.39%, 4/24/2034 (b) | 32,000 | 31,487 |
(SOFR + 1.99%), 5.56%, 7/25/2034 (b) | 82,000 | 81,601 |
(SOFR + 2.06%), 6.49%, 10/23/2034 (b) | 217,000 | 230,881 |
5.38%, 2/7/2035 | 79,000 | 78,852 |
5.38%, 11/2/2043 | 221,000 | 209,397 |
5.61%, 1/15/2044 | 109,000 | 105,831 |
4.75%, 12/7/2046 | 18,000 | 15,495 |
(SOFR + 2.13%), 4.61%, 4/25/2053 (b) | 35,000 | 29,866 |
Westpac Banking Corp. (Australia) | ||
3.74%, 8/26/2025 | 38,000 | 37,270 |
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.00%), 4.11%, 7/24/2034 (b) (c) | 27,000 | 24,822 |
4.42%, 7/24/2039 (c) | 115,000 | 100,858 |
2.96%, 11/16/2040 (c) | 2,000 | 1,392 |
7,983,464 | ||
Beverages — 2.1% | ||
Anheuser-Busch Cos. LLC (Belgium) | ||
4.70%, 2/1/2036 | 76,000 | 71,787 |
4.90%, 2/1/2046 | 144,000 | 132,372 |
Anheuser-Busch InBev Finance, Inc. (Belgium) 4.70%, 2/1/2036 | 55,000 | 51,703 |
Anheuser-Busch InBev Worldwide, Inc. (Belgium) | ||
4.90%, 1/23/2031 | 16,000 | 15,968 |
4.60%, 4/15/2048 | 105,000 | 92,316 |
4.75%, 4/15/2058 | 53,000 | 46,570 |
5.80%, 1/23/2059 | 55,000 | 57,004 |
Coca-Cola Co. (The) 1.65%, 6/1/2030 | 66,000 | 54,767 |
Constellation Brands, Inc. | ||
5.00%, 2/2/2026 | 80,000 | 79,880 |
3.15%, 8/1/2029 | 66,000 | 59,620 |
Keurig Dr. Pepper, Inc. | ||
3.80%, 5/1/2050 | 20,000 | 14,922 |
3.35%, 3/15/2051 | 90,000 | 61,153 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Beverages — continued | ||
Molson Coors Beverage Co. 4.20%, 7/15/2046 | 46,000 | 36,873 |
PepsiCo, Inc. | ||
4.55%, 2/13/2026 | 2,000 | 1,986 |
2.85%, 2/24/2026 | 2,000 | 1,928 |
2.75%, 3/19/2030 | 18,000 | 16,003 |
4.45%, 2/15/2033 | 45,000 | 44,493 |
4.25%, 10/22/2044 | 129,000 | 110,517 |
2.75%, 10/21/2051 | 77,000 | 48,718 |
998,580 | ||
Biotechnology — 2.2% | ||
AbbVie, Inc. | ||
2.95%, 11/21/2026 | 273,000 | 259,354 |
4.30%, 5/14/2036 | 86,000 | 78,735 |
Amgen, Inc. | ||
2.45%, 2/21/2030 | 75,000 | 64,951 |
2.00%, 1/15/2032 | 68,000 | 54,336 |
4.20%, 3/1/2033 | 24,000 | 22,122 |
5.25%, 3/2/2033 | 15,000 | 14,886 |
3.15%, 2/21/2040 | 6,000 | 4,482 |
2.80%, 8/15/2041 | 124,000 | 87,248 |
5.65%, 6/15/2042 | 41,000 | 40,701 |
5.60%, 3/2/2043 | 10,000 | 9,902 |
2.77%, 9/1/2053 | 8,000 | 4,772 |
4.40%, 2/22/2062 | 74,000 | 58,628 |
Biogen, Inc. 3.15%, 5/1/2050 | 125,000 | 80,838 |
Gilead Sciences, Inc. | ||
3.65%, 3/1/2026 | 206,000 | 200,248 |
4.15%, 3/1/2047 | 71,000 | 57,398 |
1,038,601 | ||
Broadline Retail — 1.2% | ||
Alibaba Group Holding Ltd. (China) 2.13%, 2/9/2031 | 200,000 | 164,806 |
Amazon.com, Inc. | ||
1.00%, 5/12/2026 | 62,000 | 57,446 |
3.30%, 4/13/2027 | 21,000 | 20,093 |
1.50%, 6/3/2030 | 3,000 | 2,485 |
4.80%, 12/5/2034 | 95,000 | 93,861 |
3.88%, 8/22/2037 | 150,000 | 131,611 |
4.10%, 4/13/2062 | 51,000 | 40,813 |
eBay, Inc. 4.00%, 7/15/2042 | 59,000 | 47,323 |
558,438 | ||
Building Products — 0.2% | ||
Carrier Global Corp. | ||
2.49%, 2/15/2027 | 32,000 | 29,786 |
2.70%, 2/15/2031 | 34,000 | 29,080 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Building Products — continued | ||
3.58%, 4/5/2050 | 15,000 | 10,916 |
Masco Corp. 2.00%, 10/1/2030 | 51,000 | 41,492 |
111,274 | ||
Capital Markets — 7.1% | ||
Ares Capital Corp. | ||
3.25%, 7/15/2025 | 2,000 | 1,938 |
3.88%, 1/15/2026 | 2,000 | 1,929 |
Bank of New York Mellon Corp. (The) | ||
3.00%, 10/30/2028 | 4,000 | 3,658 |
(SOFR + 1.76%), 4.60%, 7/26/2030 (b) | 1,000 | 972 |
1.65%, 1/28/2031 | 1,000 | 807 |
(SOFR + 1.42%), 5.19%, 3/14/2035 (b) | 30,000 | 29,466 |
BlackRock, Inc. | ||
1.90%, 1/28/2031 | 169,000 | 139,402 |
4.75%, 5/25/2033 | 27,000 | 26,347 |
Blackstone Secured Lending Fund 2.13%, 2/15/2027 | 3,000 | 2,706 |
Blue Owl Capital Corp. II 8.45%, 11/15/2026 (d) | 12,000 | 12,376 |
Blue Owl Capital Corp. III 3.13%, 4/13/2027 | 61,000 | 55,654 |
Brookfield Finance, Inc. (Canada) 4.85%, 3/29/2029 | 120,000 | 117,975 |
Charles Schwab Corp. (The) | ||
0.90%, 3/11/2026 | 2,000 | 1,850 |
1.95%, 12/1/2031 | 3,000 | 2,391 |
(SOFR + 2.50%), 5.85%, 5/19/2034 (b) | 5,000 | 5,078 |
CI Financial Corp. (Canada) 3.20%, 12/17/2030 | 57,000 | 44,631 |
CME Group, Inc. 4.15%, 6/15/2048 | 44,000 | 37,000 |
Credit Suisse USA LLC (Switzerland) 7.13%, 7/15/2032 | 24,000 | 26,452 |
Deutsche Bank AG (Germany) (SOFR + 1.87%), 2.13%, 11/24/2026 (b) | 151,000 | 143,051 |
Franklin Resources, Inc. 2.95%, 8/12/2051 | 20,000 | 12,478 |
FS KKR Capital Corp. 3.25%, 7/15/2027 | 22,000 | 19,967 |
Goldman Sachs Group, Inc. (The) | ||
4.25%, 10/21/2025 | 10,000 | 9,823 |
3.85%, 1/26/2027 | 51,000 | 49,228 |
(SOFR + 0.82%), 1.54%, 9/10/2027 (b) | 20,000 | 18,279 |
(SOFR + 0.91%), 1.95%, 10/21/2027 (b) | 1,000 | 920 |
(SOFR + 1.85%), 3.62%, 3/15/2028 (b) | 125,000 | 119,198 |
(3-MONTH CME TERM SOFR + 1.56%), 4.22%, 5/1/2029 (b) | 100,000 | 95,844 |
3.80%, 3/15/2030 | 363,000 | 337,094 |
(SOFR + 1.25%), 2.38%, 7/21/2032 (b) | 18,000 | 14,688 |
6.13%, 2/15/2033 | 41,000 | 43,286 |
6.75%, 10/1/2037 | 23,000 | 24,902 |
(3-MONTH CME TERM SOFR + 1.63%), 4.02%, 10/31/2038 (b) | 25,000 | 21,215 |
(SOFR + 1.51%), 3.21%, 4/22/2042 (b) | 2,000 | 1,480 |
5.15%, 5/22/2045 | 9,000 | 8,512 |
Golub Capital BDC, Inc. 2.05%, 2/15/2027 | 21,000 | 18,815 |
Hercules Capital, Inc. 3.38%, 1/20/2027 | 47,000 | 43,297 |
Intercontinental Exchange, Inc. | ||
4.25%, 9/21/2048 | 75,000 | 61,869 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Capital Markets — continued | ||
5.20%, 6/15/2062 | 63,000 | 59,033 |
Moody's Corp. 3.75%, 2/25/2052 | 11,000 | 8,221 |
Morgan Stanley | ||
4.00%, 7/23/2025 | 96,000 | 94,460 |
(SOFR + 1.77%), 6.14%, 10/16/2026 (b) | 18,000 | 18,138 |
3.63%, 1/20/2027 | 105,000 | 100,977 |
3.95%, 4/23/2027 | 118,000 | 113,854 |
(SOFR + 0.88%), 1.59%, 5/4/2027 (b) | 88,000 | 81,652 |
(SOFR + 1.61%), 4.21%, 4/20/2028 (b) | 10,000 | 9,692 |
(3-MONTH CME TERM SOFR + 1.40%), 3.77%, 1/24/2029 (b) | 254,000 | 240,701 |
(SOFR + 3.12%), 3.62%, 4/1/2031 (b) | 61,000 | 55,691 |
(SOFR + 1.03%), 1.79%, 2/13/2032 (b) | 5,000 | 3,982 |
7.25%, 4/1/2032 | 82,000 | 92,709 |
(SOFR + 1.29%), 2.94%, 1/21/2033 (b) | 15,000 | 12,640 |
(SOFR + 1.36%), 2.48%, 9/16/2036 (b) | 49,000 | 38,616 |
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.43%), 5.95%, 1/19/2038 (b) | 10,000 | 9,929 |
3.97%, 7/22/2038 (e) | 153,000 | 129,096 |
(SOFR + 1.43%), 2.80%, 1/25/2052 (b) | 41,000 | 25,765 |
Nasdaq, Inc. 1.65%, 1/15/2031 | 2,000 | 1,596 |
Nomura Holdings, Inc. (Japan) 2.33%, 1/22/2027 | 200,000 | 184,356 |
Northern Trust Corp. | ||
3.15%, 5/3/2029 | 24,000 | 22,069 |
6.13%, 11/2/2032 | 57,000 | 59,138 |
Prospect Capital Corp. | ||
3.71%, 1/22/2026 | 56,000 | 53,062 |
3.36%, 11/15/2026 | 66,000 | 60,519 |
S&P Global, Inc. 3.70%, 3/1/2052 | 68,000 | 51,349 |
State Street Corp. | ||
(SOFR + 1.72%), 5.82%, 11/4/2028 (b) | 31,000 | 31,621 |
(SOFR + 1.00%), 2.62%, 2/7/2033 (b) | 41,000 | 34,103 |
(SOFR + 1.49%), 3.03%, 11/1/2034 (b) | 72,000 | 63,054 |
UBS AG (Switzerland) 5.80%, 9/11/2025 | 215,000 | 215,867 |
3,426,468 | ||
Chemicals — 1.3% | ||
Albemarle Corp. | ||
4.65%, 6/1/2027 | 89,000 | 87,098 |
5.05%, 6/1/2032 | 60,000 | 57,704 |
Celanese US Holdings LLC 6.33%, 7/15/2029 | 33,000 | 33,888 |
Dow Chemical Co. (The) 6.90%, 5/15/2053 | 27,000 | 30,308 |
Eastman Chemical Co. 4.65%, 10/15/2044 | 65,000 | 54,613 |
Ecolab, Inc. 2.75%, 8/18/2055 | 27,000 | 16,302 |
FMC Corp. 4.50%, 10/1/2049 | 18,000 | 13,880 |
International Flavors & Fragrances, Inc. 4.45%, 9/26/2028 | 90,000 | 86,369 |
Linde, Inc. | ||
1.10%, 8/10/2030 | 5,000 | 4,002 |
2.00%, 8/10/2050 | 2,000 | 1,074 |
Nutrien Ltd. (Canada) 5.88%, 12/1/2036 | 28,000 | 28,601 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Chemicals — continued | ||
RPM International, Inc. 3.75%, 3/15/2027 | 66,000 | 63,014 |
Sherwin-Williams Co. (The) 2.95%, 8/15/2029 | 167,000 | 149,629 |
626,482 | ||
Commercial Services & Supplies — 0.1% | ||
Cintas Corp. No. 2 4.00%, 5/1/2032 | 5,000 | 4,656 |
Republic Services, Inc. 6.20%, 3/1/2040 | 53,000 | 56,517 |
Veralto Corp. 5.50%, 9/18/2026 (d) | 2,000 | 1,995 |
63,168 | ||
Communications Equipment — 0.5% | ||
Cisco Systems, Inc. | ||
2.95%, 2/28/2026 | 25,000 | 24,099 |
2.50%, 9/20/2026 | 98,000 | 92,882 |
5.90%, 2/15/2039 | 91,000 | 96,518 |
5.35%, 2/26/2064 | 3,000 | 2,915 |
Nokia OYJ (Finland) 6.63%, 5/15/2039 | 15,000 | 14,522 |
230,936 | ||
Construction & Engineering — 0.2% | ||
Quanta Services, Inc. | ||
2.90%, 10/1/2030 | 50,000 | 43,615 |
2.35%, 1/15/2032 | 53,000 | 42,824 |
86,439 | ||
Construction Materials — 0.1% | ||
Martin Marietta Materials, Inc. 3.20%, 7/15/2051 | 36,000 | 24,274 |
Consumer Finance — 3.2% | ||
AerCap Ireland Capital DAC (Ireland) 1.75%, 1/30/2026 | 150,000 | 140,814 |
Ally Financial, Inc. 4.75%, 6/9/2027 | 90,000 | 87,376 |
American Express Co. | ||
4.20%, 11/6/2025 | 70,000 | 68,931 |
4.90%, 2/13/2026 | 2,000 | 1,986 |
2.55%, 3/4/2027 | 4,000 | 3,727 |
American Honda Finance Corp. | ||
1.00%, 9/10/2025 | 63,000 | 59,624 |
5.80%, 10/3/2025 | 50,000 | 50,283 |
Capital One Financial Corp. | ||
3.75%, 7/28/2026 | 164,000 | 158,149 |
(SOFR + 2.60%), 5.25%, 7/26/2030 (b) | 90,000 | 87,895 |
(SOFR + 1.34%), 2.36%, 7/29/2032 (b) | 6,000 | 4,675 |
Caterpillar Financial Services Corp. 1.10%, 9/14/2027 | 5,000 | 4,431 |
Discover Financial Services (SOFRINDX + 3.37%), 7.96%, 11/2/2034 (b) | 62,000 | 69,723 |
Ford Motor Credit Co. LLC 4.54%, 8/1/2026 | 229,000 | 222,679 |
General Motors Financial Co., Inc. | ||
1.50%, 6/10/2026 | 82,000 | 75,671 |
3.60%, 6/21/2030 | 106,000 | 94,703 |
John Deere Capital Corp. | ||
3.40%, 9/11/2025 | 37,000 | 36,130 |
0.70%, 1/15/2026 | 21,000 | 19,583 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Consumer Finance — continued | ||
4.90%, 3/7/2031 | 60,000 | 59,496 |
2.00%, 6/17/2031 | 6,000 | 4,936 |
Synchrony Financial | ||
3.95%, 12/1/2027 | 55,000 | 51,487 |
5.15%, 3/19/2029 | 14,000 | 13,425 |
Toyota Motor Credit Corp. | ||
3.65%, 8/18/2025 | 118,000 | 115,714 |
1.65%, 1/10/2031 | 114,000 | 91,847 |
1,523,285 | ||
Consumer Staples Distribution & Retail — 1.1% | ||
Costco Wholesale Corp. 1.75%, 4/20/2032 | 71,000 | 56,662 |
Dollar General Corp. 5.50%, 11/1/2052 | 28,000 | 25,891 |
Kroger Co. (The) 5.40%, 1/15/2049 | 37,000 | 35,074 |
Sysco Corp. 6.60%, 4/1/2050 | 38,000 | 42,343 |
Target Corp. | ||
3.38%, 4/15/2029 | 196,000 | 183,495 |
4.00%, 7/1/2042 | 17,000 | 14,354 |
Walmart, Inc. | ||
4.00%, 4/15/2026 | 20,000 | 19,678 |
7.55%, 2/15/2030 | 12,000 | 13,751 |
5.25%, 9/1/2035 | 82,000 | 84,172 |
2.50%, 9/22/2041 | 67,000 | 46,339 |
521,759 | ||
Containers & Packaging — 0.3% | ||
International Paper Co. 6.00%, 11/15/2041 | 99,000 | 97,572 |
Sonoco Products Co. 5.75%, 11/1/2040 | 14,000 | 13,817 |
WRKCo, Inc. | ||
4.90%, 3/15/2029 | 10,000 | 9,881 |
3.00%, 6/15/2033 | 54,000 | 44,983 |
166,253 | ||
Diversified Consumer Services — 0.2% | ||
Duke University | ||
Series 2020, 2.68%, 10/1/2044 | 40,000 | 28,608 |
Series 2020, 2.83%, 10/1/2055 | 8,000 | 5,099 |
Johns Hopkins University Series 2013, 4.08%, 7/1/2053 | 11,000 | 9,224 |
Northwestern University Series 2020, 2.64%, 12/1/2050 | 13,000 | 8,458 |
President and Fellows of Harvard College 3.30%, 7/15/2056 | 48,000 | 34,152 |
University of Southern California 3.03%, 10/1/2039 | 9,000 | 7,098 |
92,639 | ||
Diversified REITs — 0.8% | ||
American Assets Trust LP 3.38%, 2/1/2031 | 24,000 | 19,663 |
Simon Property Group LP | ||
2.45%, 9/13/2029 | 62,000 | 54,041 |
2.20%, 2/1/2031 | 100,000 | 82,265 |
2.65%, 2/1/2032 | 129,000 | 107,141 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Diversified REITs — continued | ||
Store Capital LLC | ||
4.50%, 3/15/2028 | 37,000 | 35,022 |
2.75%, 11/18/2030 | 10,000 | 8,181 |
VICI Properties LP | ||
4.95%, 2/15/2030 | 44,000 | 42,204 |
5.63%, 5/15/2052 | 15,000 | 13,454 |
361,971 | ||
Diversified Telecommunication Services — 2.5% | ||
AT&T, Inc. | ||
3.80%, 2/15/2027 | 165,000 | 159,051 |
1.65%, 2/1/2028 | 87,000 | 76,872 |
2.55%, 12/1/2033 | 99,000 | 78,071 |
6.38%, 3/1/2041 | 12,000 | 12,653 |
4.50%, 3/9/2048 | 90,000 | 74,285 |
3.55%, 9/15/2055 | 193,000 | 129,651 |
3.65%, 9/15/2059 | 30,000 | 19,996 |
3.50%, 2/1/2061 | 72,000 | 47,376 |
Bell Canada (The) (Canada) Series US-5, 2.15%, 2/15/2032 | 25,000 | 19,875 |
Deutsche Telekom International Finance BV (Germany) 9.25%, 6/1/2032 | 10,000 | 12,410 |
Orange SA (France) 5.38%, 1/13/2042 | 5,000 | 4,817 |
Telefonica Emisiones SA (Spain) 7.05%, 6/20/2036 | 86,000 | 93,381 |
TELUS Corp. (Canada) 3.40%, 5/13/2032 | 26,000 | 22,480 |
Verizon Communications, Inc. | ||
2.10%, 3/22/2028 | 19,000 | 17,023 |
4.02%, 12/3/2029 | 10,000 | 9,435 |
1.50%, 9/18/2030 | 135,000 | 109,162 |
2.36%, 3/15/2032 | 41,000 | 33,278 |
3.40%, 3/22/2041 | 202,000 | 154,385 |
2.85%, 9/3/2041 | 50,000 | 35,030 |
4.75%, 11/1/2041 | 85,000 | 77,890 |
2.99%, 10/30/2056 | 3,000 | 1,827 |
3.70%, 3/22/2061 | 23,000 | 16,174 |
1,205,122 | ||
Electric Utilities — 6.6% | ||
AEP Texas, Inc. 3.45%, 5/15/2051 | 79,000 | 51,858 |
AEP Transmission Co. LLC | ||
4.25%, 9/15/2048 | 141,000 | 113,365 |
Series M, 3.65%, 4/1/2050 | 128,000 | 92,969 |
Alabama Power Co. | ||
3.94%, 9/1/2032 | 64,000 | 58,579 |
Series A, 4.30%, 7/15/2048 | 46,000 | 37,715 |
Arizona Public Service Co. 2.65%, 9/15/2050 | 3,000 | 1,734 |
Baltimore Gas and Electric Co. 3.20%, 9/15/2049 | 38,000 | 25,287 |
Commonwealth Edison Co. | ||
4.00%, 3/1/2049 | 5,000 | 3,859 |
3.00%, 3/1/2050 | 9,000 | 5,767 |
Connecticut Light and Power Co. (The) Series A, 4.15%, 6/1/2045 | 29,000 | 23,997 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Electric Utilities — continued | ||
Dominion Energy South Carolina, Inc. 5.10%, 6/1/2065 | 19,000 | 16,862 |
DTE Electric Co. | ||
Series C, 2.63%, 3/1/2031 | 41,000 | 34,993 |
Series B, 3.25%, 4/1/2051 | 128,000 | 86,690 |
Duke Energy Carolinas LLC 3.70%, 12/1/2047 | 36,000 | 26,440 |
Duke Energy Corp. | ||
2.65%, 9/1/2026 | 69,000 | 65,037 |
3.75%, 9/1/2046 | 188,000 | 138,328 |
3.95%, 8/15/2047 | 27,000 | 20,238 |
3.50%, 6/15/2051 | 8,000 | 5,423 |
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.32%), 3.25%, 1/15/2082 (b) | 33,000 | 29,615 |
Duke Energy Indiana LLC Series YYY, 3.25%, 10/1/2049 | 14,000 | 9,402 |
Duke Energy Ohio, Inc. 4.30%, 2/1/2049 | 18,000 | 14,436 |
Duke Energy Progress LLC 2.90%, 8/15/2051 | 4,000 | 2,484 |
Edison International 5.75%, 6/15/2027 | 26,000 | 26,161 |
Emera US Finance LP (Canada) | ||
2.64%, 6/15/2031 | 7,000 | 5,710 |
4.75%, 6/15/2046 | 18,000 | 14,547 |
Entergy Corp. 0.90%, 9/15/2025 | 59,000 | 55,585 |
Entergy Louisiana LLC 4.00%, 3/15/2033 | 141,000 | 127,128 |
Evergy, Inc. 2.90%, 9/15/2029 | 88,000 | 78,170 |
Eversource Energy | ||
4.75%, 5/15/2026 | 69,000 | 68,012 |
Series R, 1.65%, 8/15/2030 | 106,000 | 84,620 |
5.13%, 5/15/2033 | 42,000 | 40,245 |
Exelon Corp. | ||
2.75%, 3/15/2027 | 81,000 | 75,731 |
4.95%, 6/15/2035 | 6,000 | 5,574 |
Florida Power & Light Co. | ||
Series A, 3.30%, 5/30/2027 | 10,000 | 9,481 |
5.63%, 4/1/2034 | 19,000 | 19,555 |
5.69%, 3/1/2040 | 64,000 | 65,171 |
3.95%, 3/1/2048 | 40,000 | 31,567 |
Fortis, Inc. (Canada) 3.06%, 10/4/2026 | 80,000 | 75,678 |
Georgia Power Co. | ||
4.30%, 3/15/2043 | 24,000 | 20,076 |
Series B, 3.70%, 1/30/2050 | 39,000 | 28,887 |
Idaho Power Co. 5.50%, 3/15/2053 | 41,000 | 38,938 |
MidAmerican Energy Co. | ||
4.25%, 5/1/2046 | 126,000 | 103,550 |
2.70%, 8/1/2052 | 39,000 | 23,268 |
NextEra Energy Capital Holdings, Inc. | ||
1.90%, 6/15/2028 | 217,000 | 190,795 |
5.25%, 2/28/2053 | 22,000 | 20,439 |
(3-MONTH SOFR + 2.41%), 4.80%, 12/1/2077 (b) | 17,000 | 15,619 |
Northern States Power Co. 6.25%, 6/1/2036 | 30,000 | 31,997 |
Oncor Electric Delivery Co. LLC | ||
3.80%, 9/30/2047 | 50,000 | 38,047 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Electric Utilities — continued | ||
4.10%, 11/15/2048 | 26,000 | 20,923 |
Pacific Gas and Electric Co. | ||
3.50%, 6/15/2025 | 33,000 | 32,223 |
3.00%, 6/15/2028 | 25,000 | 22,795 |
2.50%, 2/1/2031 | 10,000 | 8,237 |
3.25%, 6/1/2031 | 127,000 | 109,129 |
4.50%, 7/1/2040 | 47,000 | 38,979 |
4.60%, 6/15/2043 | 34,000 | 27,742 |
4.95%, 7/1/2050 | 3,000 | 2,501 |
6.75%, 1/15/2053 | 5,000 | 5,286 |
PacifiCorp | ||
7.70%, 11/15/2031 | 29,000 | 32,996 |
5.45%, 2/15/2034 | 3,000 | 2,934 |
5.75%, 4/1/2037 | 23,000 | 22,734 |
6.00%, 1/15/2039 | 11,000 | 11,129 |
3.30%, 3/15/2051 | 76,000 | 48,594 |
PECO Energy Co. 5.95%, 10/1/2036 | 5,000 | 5,238 |
PPL Electric Utilities Corp. 5.00%, 5/15/2033 | 48,000 | 47,073 |
Public Service Co. of Colorado | ||
1.88%, 6/15/2031 | 53,000 | 42,373 |
Series 17, 6.25%, 9/1/2037 | 16,000 | 16,718 |
4.05%, 9/15/2049 | 19,000 | 14,504 |
Public Service Electric and Gas Co. | ||
3.10%, 3/15/2032 | 45,000 | 38,954 |
3.15%, 1/1/2050 | 113,000 | 76,729 |
Southern California Edison Co. | ||
Series 20C, 1.20%, 2/1/2026 | 26,000 | 24,292 |
Series D, 4.70%, 6/1/2027 | 27,000 | 26,590 |
6.00%, 1/15/2034 | 1,000 | 1,032 |
Series C, 3.60%, 2/1/2045 | 22,000 | 16,081 |
Southern Co. (The) | ||
5.15%, 10/6/2025 | 186,000 | 185,359 |
4.25%, 7/1/2036 | 38,000 | 33,737 |
Union Electric Co. 5.45%, 3/15/2053 | 5,000 | 4,802 |
Virginia Electric and Power Co. | ||
Series C, 4.00%, 11/15/2046 | 20,000 | 15,611 |
4.60%, 12/1/2048 | 112,000 | 94,800 |
3,189,724 | ||
Electrical Equipment — 0.3% | ||
Emerson Electric Co. 2.20%, 12/21/2031 | 19,000 | 15,731 |
Regal Rexnord Corp. 6.05%, 4/15/2028 | 50,000 | 50,656 |
Rockwell Automation, Inc. 2.80%, 8/15/2061 | 125,000 | 71,130 |
137,517 | ||
Electronic Equipment, Instruments & Components — 0.4% | ||
Corning, Inc. | ||
4.75%, 3/15/2042 | 149,000 | 131,635 |
5.45%, 11/15/2079 | 16,000 | 14,671 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Electronic Equipment, Instruments & Components — continued | ||
Keysight Technologies, Inc. 4.60%, 4/6/2027 | 9,000 | 8,819 |
Vontier Corp. 2.95%, 4/1/2031 | 22,000 | 18,139 |
173,264 | ||
Energy Equipment & Services — 0.0% ^ | ||
Halliburton Co. 4.85%, 11/15/2035 | 10,000 | 9,550 |
Entertainment — 0.9% | ||
TWDC Enterprises 18 Corp. 7.00%, 3/1/2032 | 67,000 | 75,118 |
Walt Disney Co. (The) | ||
2.65%, 1/13/2031 | 175,000 | 151,856 |
3.50%, 5/13/2040 | 171,000 | 135,769 |
Warnermedia Holdings, Inc. | ||
6.41%, 3/15/2026 | 20,000 | 20,003 |
5.39%, 3/15/2062 | 39,000 | 30,683 |
413,429 | ||
Financial Services — 1.4% | ||
Berkshire Hathaway, Inc. 3.13%, 3/15/2026 | 127,000 | 122,862 |
Corebridge Financial, Inc. | ||
4.40%, 4/5/2052 | 5,000 | 3,960 |
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.85%), 6.88%, 12/15/2052 (b) | 15,000 | 15,072 |
Equitable Holdings, Inc. | ||
4.35%, 4/20/2028 | 75,000 | 72,013 |
5.00%, 4/20/2048 | 15,000 | 13,363 |
Fidelity National Information Services, Inc. | ||
5.10%, 7/15/2032 | 10,000 | 9,857 |
3.10%, 3/1/2041 | 124,000 | 88,480 |
Fiserv, Inc. | ||
3.85%, 6/1/2025 | 22,000 | 21,605 |
2.25%, 6/1/2027 | 38,000 | 34,839 |
4.40%, 7/1/2049 | 10,000 | 8,144 |
Mastercard, Inc. | ||
4.85%, 3/9/2033 | 30,000 | 29,732 |
3.85%, 3/26/2050 | 75,000 | 59,229 |
National Rural Utilities Cooperative Finance Corp. (3-MONTH SOFR + 3.63%), 5.25%, 4/20/2046 (b) | 30,000 | 29,096 |
ORIX Corp. (Japan) 5.20%, 9/13/2032 | 28,000 | 27,970 |
PayPal Holdings, Inc. 5.25%, 6/1/2062 | 10,000 | 9,145 |
Shell International Finance BV | ||
3.13%, 11/7/2049 | 26,000 | 17,629 |
3.00%, 11/26/2051 | 7,000 | 4,559 |
Visa, Inc. 0.75%, 8/15/2027 | 120,000 | 105,849 |
Voya Financial, Inc. (3-MONTH SOFR + 2.08%), 4.70%, 1/23/2048 (b) | 19,000 | 16,223 |
689,627 | ||
Food Products — 1.4% | ||
Archer-Daniels-Midland Co. 3.75%, 9/15/2047 | 122,000 | 91,593 |
Bunge Ltd. Finance Corp. 2.75%, 5/14/2031 | 60,000 | 51,118 |
Conagra Brands, Inc. 5.40%, 11/1/2048 | 28,000 | 25,663 |
Hershey Co. (The) 0.90%, 6/1/2025 | 91,000 | 87,090 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Food Products — continued | ||
Kraft Heinz Foods Co. | ||
3.00%, 6/1/2026 | 134,000 | 128,256 |
5.50%, 6/1/2050 | 18,000 | 17,248 |
Mondelez International, Inc. 1.88%, 10/15/2032 | 60,000 | 47,107 |
Pilgrim's Pride Corp. | ||
4.25%, 4/15/2031 | 38,000 | 34,226 |
6.25%, 7/1/2033 | 2,000 | 2,027 |
6.88%, 5/15/2034 | 13,000 | 13,739 |
Tyson Foods, Inc. | ||
3.55%, 6/2/2027 | 142,000 | 135,150 |
5.10%, 9/28/2048 | 42,000 | 36,632 |
669,849 | ||
Gas Utilities — 0.4% | ||
Atmos Energy Corp. | ||
1.50%, 1/15/2031 | 38,000 | 30,306 |
4.13%, 3/15/2049 | 32,000 | 25,431 |
5.75%, 10/15/2052 | 10,000 | 10,186 |
Piedmont Natural Gas Co., Inc. 5.05%, 5/15/2052 | 30,000 | 26,291 |
Southern California Gas Co. Series VV, 4.30%, 1/15/2049 | 58,000 | 46,441 |
Southwest Gas Corp. | ||
4.05%, 3/15/2032 | 2,000 | 1,806 |
3.18%, 8/15/2051 | 23,000 | 14,415 |
Washington Gas Light Co. | ||
Series K, 3.80%, 9/15/2046 | 34,000 | 25,391 |
3.65%, 9/15/2049 | 22,000 | 15,904 |
196,171 | ||
Ground Transportation — 1.7% | ||
Burlington Northern Santa Fe LLC 4.45%, 1/15/2053 | 78,000 | 66,111 |
Canadian National Railway Co. (Canada) 4.40%, 8/5/2052 | 10,000 | 8,558 |
Canadian Pacific Railway Co. (Canada) | ||
1.75%, 12/2/2026 | 77,000 | 70,690 |
2.45%, 12/2/2031 | 24,000 | 21,684 |
3.00%, 12/2/2041 | 40,000 | 34,630 |
4.30%, 5/15/2043 | 59,000 | 49,793 |
4.70%, 5/1/2048 | 23,000 | 19,787 |
6.13%, 9/15/2115 | 2,000 | 2,025 |
CSX Corp. | ||
3.95%, 5/1/2050 | 141,000 | 110,307 |
4.65%, 3/1/2068 | 44,000 | 36,820 |
Norfolk Southern Corp. | ||
4.15%, 2/28/2048 | 68,000 | 54,261 |
3.70%, 3/15/2053 | 9,000 | 6,488 |
5.10%, 8/1/2118 | 49,000 | 41,390 |
4.10%, 5/15/2121 | 5,000 | 3,526 |
Ryder System, Inc. 2.85%, 3/1/2027 | 153,000 | 143,561 |
Union Pacific Corp. | ||
3.25%, 8/15/2025 | 50,000 | 48,777 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Ground Transportation — continued | ||
4.75%, 2/21/2026 | 26,000 | 25,829 |
4.50%, 9/10/2048 | 17,000 | 14,606 |
3.88%, 2/1/2055 | 83,000 | 62,907 |
2.97%, 9/16/2062 | 6,000 | 3,559 |
825,309 | ||
Health Care Equipment & Supplies — 1.3% | ||
Abbott Laboratories | ||
3.75%, 11/30/2026 | 2,000 | 1,945 |
4.75%, 4/15/2043 | 11,000 | 10,297 |
4.90%, 11/30/2046 | 80,000 | 75,180 |
Baxter International, Inc. | ||
1.73%, 4/1/2031 | 3,000 | 2,362 |
3.13%, 12/1/2051 | 81,000 | 50,643 |
Becton Dickinson & Co. | ||
2.82%, 5/20/2030 | 35,000 | 30,601 |
4.30%, 8/22/2032 | 12,000 | 11,161 |
4.69%, 12/15/2044 | 20,000 | 17,606 |
Boston Scientific Corp. | ||
4.55%, 3/1/2039 | 7,000 | 6,452 |
4.70%, 3/1/2049 | 33,000 | 29,262 |
DENTSPLY SIRONA, Inc. 3.25%, 6/1/2030 | 3,000 | 2,615 |
DH Europe Finance II SARL 2.60%, 11/15/2029 | 59,000 | 52,215 |
GE HealthCare Technologies, Inc. 5.65%, 11/15/2027 | 171,000 | 173,006 |
Koninklijke Philips NV (Netherlands) 5.00%, 3/15/2042 | 22,000 | 20,020 |
Medtronic, Inc. | ||
4.38%, 3/15/2035 | 58,000 | 54,177 |
4.63%, 3/15/2045 | 10,000 | 9,021 |
Stryker Corp. | ||
3.50%, 3/15/2026 | 36,000 | 34,920 |
4.38%, 5/15/2044 | 51,000 | 43,911 |
Zimmer Biomet Holdings, Inc. 2.60%, 11/24/2031 | 9,000 | 7,448 |
632,842 | ||
Health Care Providers & Services — 3.5% | ||
Aetna, Inc. 3.88%, 8/15/2047 | 15,000 | 10,959 |
Ascension Health | ||
3.95%, 11/15/2046 | 53,000 | 43,665 |
4.85%, 11/15/2053 | 1,000 | 929 |
Cardinal Health, Inc. 3.41%, 6/15/2027 | 22,000 | 20,881 |
Centene Corp. | ||
4.25%, 12/15/2027 | 50,000 | 47,571 |
3.00%, 10/15/2030 | 24,000 | 20,402 |
Cigna Group (The) | ||
4.13%, 11/15/2025 | 36,000 | 35,381 |
2.40%, 3/15/2030 | 99,000 | 84,963 |
4.80%, 8/15/2038 | 64,000 | 58,462 |
3.20%, 3/15/2040 | 10,000 | 7,386 |
4.90%, 12/15/2048 | 3,000 | 2,636 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Health Care Providers & Services — continued | ||
CommonSpirit Health 6.07%, 11/1/2027 | 113,000 | 115,763 |
CVS Health Corp. | ||
3.75%, 4/1/2030 | 117,000 | 106,878 |
6.13%, 9/15/2039 | 11,000 | 10,996 |
5.05%, 3/25/2048 | 79,000 | 68,083 |
5.63%, 2/21/2053 | 140,000 | 129,742 |
6.00%, 6/1/2063 | 5,000 | 4,800 |
Elevance Health, Inc. | ||
2.25%, 5/15/2030 | 38,000 | 32,213 |
3.13%, 5/15/2050 | 42,000 | 28,035 |
4.55%, 5/15/2052 | 62,000 | 51,857 |
6.10%, 10/15/2052 | 10,000 | 10,450 |
HCA, Inc. | ||
4.13%, 6/15/2029 | 11,000 | 10,363 |
5.50%, 6/1/2033 | 17,000 | 16,785 |
5.60%, 4/1/2034 | 36,000 | 35,680 |
5.13%, 6/15/2039 | 24,000 | 22,250 |
5.25%, 6/15/2049 | 22,000 | 19,541 |
3.50%, 7/15/2051 | 4,000 | 2,670 |
4.63%, 3/15/2052 | 15,000 | 12,099 |
Humana, Inc. 4.80%, 3/15/2047 | 26,000 | 22,037 |
Memorial Sloan-Kettering Cancer Center 5.00%, 7/1/2042 | 5,000 | 4,792 |
New York and Presbyterian Hospital (The) Series 2019, 3.95%, 8/1/2119 | 10,000 | 7,059 |
Novant Health, Inc. 2.64%, 11/1/2036 | 20,000 | 15,002 |
Providence St. Joseph Health Obligated Group Series A, 3.93%, 10/1/2048 | 40,000 | 30,576 |
Quest Diagnostics, Inc. 2.80%, 6/30/2031 | 115,000 | 98,051 |
SSM Health Care Corp. Series A, 3.82%, 6/1/2027 | 76,000 | 73,072 |
UnitedHealth Group, Inc. | ||
3.75%, 7/15/2025 | 147,000 | 144,626 |
2.30%, 5/15/2031 | 6,000 | 5,012 |
4.20%, 5/15/2032 | 2,000 | 1,872 |
5.80%, 3/15/2036 | 12,000 | 12,498 |
6.63%, 11/15/2037 | 32,000 | 35,438 |
3.50%, 8/15/2039 | 146,000 | 117,538 |
4.63%, 11/15/2041 | 65,000 | 58,868 |
3.13%, 5/15/2060 | 67,000 | 42,204 |
6.05%, 2/15/2063 | 8,000 | 8,410 |
1,688,495 | ||
Health Care REITs — 0.2% | ||
Healthpeak OP LLC 2.88%, 1/15/2031 | 68,000 | 58,298 |
Sabra Health Care LP 3.90%, 10/15/2029 | 21,000 | 18,769 |
Ventas Realty LP 4.38%, 2/1/2045 | 3,000 | 2,381 |
Welltower OP LLC 4.95%, 9/1/2048 | 26,000 | 23,342 |
102,790 | ||
Hotels, Restaurants & Leisure — 0.9% | ||
Choice Hotels International, Inc. 3.70%, 1/15/2031 | 49,000 | 42,741 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Hotels, Restaurants & Leisure — continued | ||
Expedia Group, Inc. | ||
4.63%, 8/1/2027 | 5,000 | 4,900 |
3.25%, 2/15/2030 | 60,000 | 53,592 |
Hyatt Hotels Corp. 4.38%, 9/15/2028 | 3,000 | 2,883 |
McDonald's Corp. | ||
1.45%, 9/1/2025 | 17,000 | 16,198 |
2.13%, 3/1/2030 | 50,000 | 42,567 |
4.60%, 9/9/2032 | 9,000 | 8,658 |
3.63%, 5/1/2043 | 81,000 | 62,184 |
5.15%, 9/9/2052 | 35,000 | 32,428 |
Starbucks Corp. | ||
3.00%, 2/14/2032 | 162,000 | 139,464 |
4.50%, 11/15/2048 | 28,000 | 23,307 |
3.35%, 3/12/2050 | 16,000 | 10,879 |
439,801 | ||
Household Durables — 0.9% | ||
DR Horton, Inc. 1.40%, 10/15/2027 | 90,000 | 79,681 |
Leggett & Platt, Inc. 3.50%, 11/15/2051 | 19,000 | 12,214 |
Lennar Corp. 4.75%, 11/29/2027 | 121,000 | 119,465 |
Mohawk Industries, Inc. 3.63%, 5/15/2030 | 150,000 | 136,959 |
Toll Brothers Finance Corp. 4.88%, 11/15/2025 | 46,000 | 45,479 |
Whirlpool Corp. 4.60%, 5/15/2050 | 55,000 | 43,067 |
436,865 | ||
Household Products — 0.5% | ||
Colgate-Palmolive Co. | ||
4.80%, 3/2/2026 | 12,000 | 11,970 |
4.00%, 8/15/2045 | 25,000 | 20,952 |
Kimberly-Clark Corp. 6.63%, 8/1/2037 | 107,000 | 121,167 |
Procter & Gamble Co. (The) | ||
2.85%, 8/11/2027 | 62,000 | 58,476 |
3.50%, 10/25/2047 | 47,000 | 36,574 |
249,139 | ||
Industrial Conglomerates — 0.4% | ||
3M Co. 3.38%, 3/1/2029 | 131,000 | 120,705 |
Honeywell International, Inc. 5.70%, 3/15/2036 | 80,000 | 83,770 |
204,475 | ||
Industrial REITs — 0.2% | ||
Prologis LP 3.00%, 4/15/2050 | 61,000 | 39,659 |
Rexford Industrial Realty LP 2.13%, 12/1/2030 | 70,000 | 56,884 |
96,543 | ||
Insurance — 2.7% | ||
ACE Capital Trust II 9.70%, 4/1/2030 | 10,000 | 11,856 |
Aflac, Inc. 3.60%, 4/1/2030 | 100,000 | 92,210 |
Alleghany Corp. 3.25%, 8/15/2051 | 36,000 | 24,154 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Insurance — continued | ||
Allstate Corp. (The) | ||
5.25%, 3/30/2033 | 99,000 | 98,268 |
(3-MONTH SOFR + 2.12%), 6.50%, 5/15/2057 (b) | 10,000 | 10,036 |
American International Group, Inc. 3.88%, 1/15/2035 | 34,000 | 30,083 |
Aon Corp. | ||
4.50%, 12/15/2028 | 9,000 | 8,721 |
6.25%, 9/30/2040 | 10,000 | 10,544 |
Arch Capital Group Ltd. 3.64%, 6/30/2050 | 64,000 | 46,374 |
Assured Guaranty US Holdings, Inc. 6.13%, 9/15/2028 | 42,000 | 43,120 |
Athene Holding Ltd. 3.45%, 5/15/2052 | 56,000 | 35,883 |
AXIS Specialty Finance LLC (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.19%), 4.90%, 1/15/2040 (b) | 11,000 | 10,005 |
Berkshire Hathaway Finance Corp. | ||
5.75%, 1/15/2040 | 22,000 | 23,559 |
2.85%, 10/15/2050 | 113,000 | 72,649 |
3.85%, 3/15/2052 | 10,000 | 7,693 |
Brighthouse Financial, Inc. 3.85%, 12/22/2051 | 66,000 | 41,358 |
Chubb INA Holdings LLC | ||
6.70%, 5/15/2036 | 11,000 | 12,313 |
3.05%, 12/15/2061 | 5,000 | 3,173 |
Cincinnati Financial Corp. 6.13%, 11/1/2034 | 30,000 | 31,146 |
Enstar Finance LLC | ||
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.47%), 5.75%, 9/1/2040 (b) | 29,000 | 28,418 |
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.01%), 5.50%, 1/15/2042 (b) | 2,000 | 1,949 |
Everest Reinsurance Holdings, Inc. 3.13%, 10/15/2052 | 3,000 | 1,861 |
Fairfax Financial Holdings Ltd. (Canada) 6.00%, 12/7/2033 (d) | 28,000 | 28,207 |
Hartford Financial Services Group, Inc. (The) 2.90%, 9/15/2051 | 71,000 | 44,588 |
Manulife Financial Corp. (Canada) (USD ICE Swap Rate 5 Year + 1.65%), 4.06%, 2/24/2032 (b) | 47,000 | 44,986 |
Markel Group, Inc. 3.35%, 9/17/2029 | 32,000 | 29,032 |
Marsh & McLennan Cos., Inc. 6.25%, 11/1/2052 | 10,000 | 10,781 |
MetLife, Inc. | ||
10.75%, 8/1/2039 | 11,000 | 14,584 |
5.25%, 1/15/2054 | 26,000 | 24,814 |
Principal Financial Group, Inc. | ||
3.70%, 5/15/2029 | 90,000 | 83,340 |
5.50%, 3/15/2053 | 5,000 | 4,777 |
Progressive Corp. (The) 4.13%, 4/15/2047 | 56,000 | 46,133 |
Prudential Financial, Inc. | ||
3.94%, 12/7/2049 | 41,000 | 31,196 |
3.70%, 3/13/2051 | 41,000 | 29,890 |
Selective Insurance Group, Inc. 5.38%, 3/1/2049 | 18,000 | 16,540 |
Transatlantic Holdings, Inc. 8.00%, 11/30/2039 | 22,000 | 27,541 |
Travelers Cos., Inc. (The) 4.10%, 3/4/2049 | 15,000 | 12,283 |
Travelers Property Casualty Corp. 6.38%, 3/15/2033 | 109,000 | 118,271 |
W R Berkley Corp. 3.15%, 9/30/2061 | 70,000 | 41,131 |
Willis North America, Inc. 3.88%, 9/15/2049 | 33,000 | 23,821 |
WR Berkley Corp. 4.75%, 8/1/2044 | 7,000 | 6,173 |
1,283,461 | ||
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Interactive Media & Services — 0.8% | ||
Alphabet, Inc. | ||
1.90%, 8/15/2040 | 100,000 | 65,133 |
2.05%, 8/15/2050 | 26,000 | 14,791 |
2.25%, 8/15/2060 | 141,000 | 78,282 |
Meta Platforms, Inc. | ||
3.50%, 8/15/2027 | 22,000 | 21,098 |
4.80%, 5/15/2030 | 176,000 | 175,260 |
4.65%, 8/15/2062 | 52,000 | 44,463 |
399,027 | ||
IT Services — 0.6% | ||
International Business Machines Corp. | ||
4.00%, 7/27/2025 | 180,000 | 177,367 |
6.22%, 8/1/2027 | 41,000 | 42,388 |
5.88%, 11/29/2032 | 22,000 | 23,023 |
7.13%, 12/1/2096 | 13,000 | 16,057 |
VeriSign, Inc. 2.70%, 6/15/2031 | 41,000 | 34,053 |
292,888 | ||
Leisure Products — 0.2% | ||
Brunswick Corp. 5.10%, 4/1/2052 | 20,000 | 15,501 |
Hasbro, Inc. 3.90%, 11/19/2029 | 64,000 | 58,618 |
74,119 | ||
Life Sciences Tools & Services — 0.1% | ||
Agilent Technologies, Inc. 2.30%, 3/12/2031 | 58,000 | 48,081 |
Revvity, Inc. 2.25%, 9/15/2031 | 23,000 | 18,674 |
66,755 | ||
Machinery — 0.5% | ||
Caterpillar, Inc. | ||
6.05%, 8/15/2036 | 21,000 | 22,849 |
4.75%, 5/15/2064 | 16,000 | 14,315 |
Deere & Co. | ||
2.88%, 9/7/2049 | 35,000 | 23,481 |
3.75%, 4/15/2050 | 3,000 | 2,376 |
Illinois Tool Works, Inc. 2.65%, 11/15/2026 | 160,000 | 151,374 |
Otis Worldwide Corp. 3.36%, 2/15/2050 | 5,000 | 3,504 |
Snap-on, Inc. 4.10%, 3/1/2048 | 40,000 | 32,673 |
250,572 | ||
Media — 2.3% | ||
Charter Communications Operating LLC | ||
2.30%, 2/1/2032 | 49,000 | 37,527 |
5.38%, 5/1/2047 | 30,000 | 24,066 |
4.80%, 3/1/2050 | 31,000 | 22,835 |
3.85%, 4/1/2061 | 107,000 | 62,960 |
4.40%, 12/1/2061 | 28,000 | 18,209 |
5.50%, 4/1/2063 | 52,000 | 40,662 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Media — continued | ||
Comcast Corp. | ||
5.25%, 11/7/2025 | 140,000 | 139,962 |
7.05%, 3/15/2033 | 81,000 | 90,189 |
6.55%, 7/1/2039 | 37,000 | 40,314 |
3.75%, 4/1/2040 | 57,000 | 46,263 |
4.00%, 11/1/2049 | 228,000 | 176,597 |
2.89%, 11/1/2051 | 11,000 | 6,840 |
Discovery Communications LLC | ||
3.95%, 3/20/2028 | 104,000 | 97,485 |
3.63%, 5/15/2030 | 10,000 | 8,797 |
5.30%, 5/15/2049 | 14,000 | 11,356 |
4.65%, 5/15/2050 | 75,000 | 55,388 |
4.00%, 9/15/2055 | 40,000 | 25,406 |
Fox Corp. 5.58%, 1/25/2049 | 10,000 | 9,128 |
Paramount Global | ||
4.95%, 1/15/2031 | 5,000 | 4,477 |
4.20%, 5/19/2032 | 139,000 | 115,675 |
5.25%, 4/1/2044 | 13,000 | 9,736 |
4.95%, 5/19/2050 | 11,000 | 7,917 |
Time Warner Cable LLC | ||
6.55%, 5/1/2037 | 47,000 | 44,502 |
5.88%, 11/15/2040 | 19,000 | 16,404 |
1,112,695 | ||
Metals & Mining — 0.8% | ||
ArcelorMittal SA (Luxembourg) 6.75%, 3/1/2041 (a) | 56,000 | 57,833 |
BHP Billiton Finance USA Ltd. (Australia) | ||
5.25%, 9/8/2026 | 50,000 | 50,075 |
5.10%, 9/8/2028 | 2,000 | 2,003 |
5.25%, 9/8/2033 | 2,000 | 1,988 |
Kinross Gold Corp. (Canada) 4.50%, 7/15/2027 | 85,000 | 82,540 |
Rio Tinto Finance USA Ltd. (Australia) 2.75%, 11/2/2051 | 4,000 | 2,476 |
Rio Tinto Finance USA plc (Australia) 5.13%, 3/9/2053 | 18,000 | 16,890 |
Southern Copper Corp. (Mexico) | ||
5.25%, 11/8/2042 | 16,000 | 14,860 |
5.88%, 4/23/2045 | 53,000 | 52,625 |
Teck Resources Ltd. (Canada) 5.40%, 2/1/2043 | 25,000 | 22,775 |
Vale Overseas Ltd. (Brazil) | ||
3.75%, 7/8/2030 | 31,000 | 27,849 |
6.88%, 11/10/2039 | 42,000 | 44,655 |
376,569 | ||
Multi-Utilities — 1.7% | ||
Ameren Corp. 3.50%, 1/15/2031 | 30,000 | 26,876 |
Berkshire Hathaway Energy Co. 6.13%, 4/1/2036 | 50,000 | 52,180 |
Black Hills Corp. 6.15%, 5/15/2034 | 12,000 | 12,196 |
CMS Energy Corp. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.12%), 4.75%, 6/1/2050 (b) | 50,000 | 45,886 |
Consolidated Edison Co. of New York, Inc. | ||
Series 20B, 3.95%, 4/1/2050 | 76,000 | 59,260 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Multi-Utilities — continued | ||
3.20%, 12/1/2051 | 64,000 | 42,322 |
3.70%, 11/15/2059 | 72,000 | 49,639 |
Consumers Energy Co. | ||
4.63%, 5/15/2033 | 85,000 | 81,177 |
3.95%, 7/15/2047 | 85,000 | 68,190 |
Dominion Energy, Inc. | ||
3.90%, 10/1/2025 | 8,000 | 7,829 |
Series A, 1.45%, 4/15/2026 | 43,000 | 39,944 |
National Grid plc (United Kingdom) 5.81%, 6/12/2033 | 41,000 | 41,146 |
NiSource, Inc. | ||
0.95%, 8/15/2025 | 39,000 | 36,907 |
3.49%, 5/15/2027 | 22,000 | 20,926 |
3.60%, 5/1/2030 | 11,000 | 10,037 |
5.00%, 6/15/2052 | 13,000 | 11,549 |
San Diego Gas & Electric Co. | ||
2.95%, 8/15/2051 | 46,000 | 29,665 |
3.70%, 3/15/2052 | 1,000 | 722 |
Southern Co. Gas Capital Corp. 4.40%, 5/30/2047 | 10,000 | 8,104 |
WEC Energy Group, Inc. | ||
5.00%, 9/27/2025 | 43,000 | 42,715 |
4.75%, 1/15/2028 | 1,000 | 989 |
2.20%, 12/15/2028 | 125,000 | 109,740 |
797,999 | ||
Office REITs — 0.6% | ||
Alexandria Real Estate Equities, Inc. 2.95%, 3/15/2034 | 52,000 | 41,903 |
Boston Properties LP 2.75%, 10/1/2026 | 130,000 | 121,121 |
COPT Defense Properties LP 2.75%, 4/15/2031 | 89,000 | 73,257 |
Highwoods Realty LP 3.88%, 3/1/2027 | 30,000 | 28,346 |
Kilroy Realty LP | ||
4.38%, 10/1/2025 | 19,000 | 18,603 |
4.25%, 8/15/2029 | 5,000 | 4,510 |
Piedmont Operating Partnership LP | ||
9.25%, 7/20/2028 | 12,000 | 12,820 |
3.15%, 8/15/2030 | 5,000 | 3,950 |
304,510 | ||
Oil, Gas & Consumable Fuels — 6.7% | ||
Apache Corp. 4.25%, 1/15/2030 | 36,000 | 33,329 |
BP Capital Markets America, Inc. | ||
3.02%, 1/16/2027 | 4,000 | 3,801 |
4.23%, 11/6/2028 | 144,000 | 139,299 |
3.00%, 3/17/2052 | 58,000 | 37,434 |
3.38%, 2/8/2061 | 67,000 | 44,148 |
BP Capital Markets plc 3.28%, 9/19/2027 | 37,000 | 34,987 |
Burlington Resources LLC 7.40%, 12/1/2031 | 23,000 | 26,036 |
Canadian Natural Resources Ltd. (Canada) 6.50%, 2/15/2037 | 17,000 | 17,680 |
Cenovus Energy, Inc. (Canada) | ||
4.25%, 4/15/2027 | 10,000 | 9,709 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Oil, Gas & Consumable Fuels — continued | ||
3.75%, 2/15/2052 | 24,000 | 17,068 |
Cheniere Energy, Inc. 4.63%, 10/15/2028 | 100,000 | 96,499 |
Chevron Corp. 2.95%, 5/16/2026 | 79,000 | 75,956 |
Chevron USA, Inc. 0.69%, 8/12/2025 | 48,000 | 45,599 |
Columbia Pipeline Group, Inc. 4.50%, 6/1/2025 | 41,000 | 40,459 |
ConocoPhillips Co. | ||
4.03%, 3/15/2062 | 73,000 | 54,702 |
5.70%, 9/15/2063 | 30,000 | 29,870 |
Devon Energy Corp. | ||
5.60%, 7/15/2041 | 132,000 | 124,107 |
5.00%, 6/15/2045 | 10,000 | 8,633 |
Diamondback Energy, Inc. | ||
3.25%, 12/1/2026 | 74,000 | 70,574 |
3.50%, 12/1/2029 | 4,000 | 3,669 |
Enbridge Energy Partners LP Series B, 7.50%, 4/15/2038 | 23,000 | 26,267 |
Enbridge, Inc. (Canada) 2.50%, 8/1/2033 | 111,000 | 87,560 |
Energy Transfer LP | ||
3.90%, 7/15/2026 | 71,000 | 68,699 |
4.95%, 5/15/2028 | 49,000 | 48,174 |
3.75%, 5/15/2030 | 27,000 | 24,696 |
5.40%, 10/1/2047 | 96,000 | 86,216 |
5.00%, 5/15/2050 | 11,000 | 9,337 |
Enterprise Products Operating LLC | ||
4.85%, 8/15/2042 | 43,000 | 39,127 |
3.20%, 2/15/2052 | 10,000 | 6,640 |
3.95%, 1/31/2060 | 35,000 | 25,682 |
Series E, (3-MONTH CME TERM SOFR + 3.29%), 5.25%, 8/16/2077 (b) | 28,000 | 26,849 |
EQT Corp. 7.00%, 2/1/2030 (a) | 48,000 | 50,782 |
Exxon Mobil Corp. | ||
2.44%, 8/16/2029 | 118,000 | 105,022 |
4.23%, 3/19/2040 | 166,000 | 146,479 |
3.10%, 8/16/2049 | 44,000 | 29,992 |
3.45%, 4/15/2051 | 2,000 | 1,442 |
Hess Corp. | ||
4.30%, 4/1/2027 | 83,000 | 80,785 |
7.88%, 10/1/2029 | 10,000 | 11,154 |
5.80%, 4/1/2047 | 45,000 | 45,006 |
Kinder Morgan, Inc. | ||
4.30%, 6/1/2025 | 83,000 | 81,885 |
1.75%, 11/15/2026 | 48,000 | 44,059 |
Marathon Oil Corp. | ||
4.40%, 7/15/2027 | 90,000 | 88,027 |
6.60%, 10/1/2037 | 36,000 | 38,914 |
Marathon Petroleum Corp. 5.00%, 9/15/2054 | 58,000 | 48,983 |
MPLX LP | ||
4.25%, 12/1/2027 | 42,000 | 40,577 |
5.20%, 12/1/2047 | 9,000 | 8,021 |
4.95%, 3/14/2052 | 84,000 | 71,512 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Oil, Gas & Consumable Fuels — continued | ||
4.90%, 4/15/2058 | 16,000 | 13,151 |
Occidental Petroleum Corp. 4.40%, 4/15/2046 | 21,000 | 16,617 |
ONEOK, Inc. | ||
2.20%, 9/15/2025 | 10,000 | 9,573 |
4.95%, 7/13/2047 | 81,000 | 69,236 |
5.20%, 7/15/2048 | 70,000 | 61,983 |
Ovintiv, Inc. 6.50%, 8/15/2034 | 14,000 | 14,590 |
Phillips 66 4.88%, 11/15/2044 | 10,000 | 8,988 |
Plains All American Pipeline LP 6.65%, 1/15/2037 | 10,000 | 10,518 |
Sabine Pass Liquefaction LLC 4.20%, 3/15/2028 | 59,000 | 56,849 |
Suncor Energy, Inc. (Canada) 3.75%, 3/4/2051 | 28,000 | 20,098 |
Targa Resources Corp. | ||
5.20%, 7/1/2027 | 27,000 | 26,900 |
6.50%, 2/15/2053 | 15,000 | 15,719 |
Targa Resources Partners LP 4.88%, 2/1/2031 | 25,000 | 23,764 |
Tennessee Gas Pipeline Co. LLC 7.00%, 10/15/2028 | 56,000 | 59,216 |
TotalEnergies Capital International SA (France) | ||
2.83%, 1/10/2030 | 151,000 | 134,910 |
3.39%, 6/29/2060 | 77,000 | 51,668 |
TransCanada PipeLines Ltd. (Canada) | ||
4.63%, 3/1/2034 | 1,000 | 929 |
6.20%, 10/15/2037 | 11,000 | 11,284 |
6.10%, 6/1/2040 | 55,000 | 55,764 |
4.88%, 5/15/2048 | 10,000 | 8,721 |
Transcontinental Gas Pipe Line Co. LLC 4.60%, 3/15/2048 | 150,000 | 127,893 |
Valero Energy Corp. | ||
3.40%, 9/15/2026 | 42,000 | 40,229 |
3.65%, 12/1/2051 | 40,000 | 27,805 |
Western Midstream Operating LP | ||
4.50%, 3/1/2028 | 42,000 | 40,536 |
5.30%, 3/1/2048 | 2,000 | 1,721 |
5.25%, 2/1/2050 (a) | 35,000 | 30,475 |
Williams Cos., Inc. (The) | ||
4.00%, 9/15/2025 | 22,000 | 21,566 |
5.40%, 3/2/2026 | 5,000 | 4,994 |
3,221,143 | ||
Paper & Forest Products — 0.1% | ||
Suzano Austria GmbH (Brazil) 3.75%, 1/15/2031 | 65,000 | 56,105 |
Personal Care Products — 0.6% | ||
Estee Lauder Cos., Inc. (The) | ||
3.15%, 3/15/2027 | 105,000 | 100,103 |
6.00%, 5/15/2037 | 19,000 | 19,974 |
Kenvue, Inc. | ||
4.90%, 3/22/2033 | 133,000 | 130,846 |
5.10%, 3/22/2043 | 61,000 | 58,867 |
309,790 | ||
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Pharmaceuticals — 2.9% | ||
AstraZeneca plc (United Kingdom) | ||
3.38%, 11/16/2025 | 62,000 | 60,413 |
6.45%, 9/15/2037 | 24,000 | 26,571 |
4.38%, 11/16/2045 | 68,000 | 58,854 |
3.00%, 5/28/2051 | 51,000 | 34,280 |
Bristol-Myers Squibb Co. | ||
2.90%, 7/26/2024 | 68,000 | 67,729 |
1.45%, 11/13/2030 | 13,000 | 10,436 |
5.90%, 11/15/2033 | 66,000 | 68,969 |
4.35%, 11/15/2047 | 13,000 | 10,819 |
3.90%, 3/15/2062 | 10,000 | 7,206 |
Eli Lilly & Co. | ||
3.38%, 3/15/2029 | 90,000 | 84,521 |
4.15%, 3/15/2059 | 33,000 | 26,761 |
2.50%, 9/15/2060 | 6,000 | 3,341 |
GlaxoSmithKline Capital, Inc. (United Kingdom) | ||
6.38%, 5/15/2038 | 26,000 | 28,685 |
4.20%, 3/18/2043 | 21,000 | 18,069 |
Johnson & Johnson | ||
4.38%, 12/5/2033 | 27,000 | 26,257 |
5.95%, 8/15/2037 | 62,000 | 67,223 |
3.40%, 1/15/2038 | 116,000 | 96,675 |
2.45%, 9/1/2060 | 57,000 | 31,735 |
Merck & Co., Inc. | ||
0.75%, 2/24/2026 | 2,000 | 1,861 |
6.50%, 12/1/2033 (a) | 8,000 | 8,845 |
3.60%, 9/15/2042 | 85,000 | 66,995 |
2.90%, 12/10/2061 | 133,000 | 79,155 |
Merck Sharp & Dohme Corp. 5.95%, 12/1/2028 | 30,000 | 31,282 |
Novartis Capital Corp. (Switzerland) 3.00%, 11/20/2025 | 112,000 | 108,845 |
Pfizer Investment Enterprises Pte. Ltd. 5.34%, 5/19/2063 | 31,000 | 29,119 |
Pfizer, Inc. | ||
2.75%, 6/3/2026 | 59,000 | 56,460 |
4.00%, 12/15/2036 | 5,000 | 4,438 |
4.10%, 9/15/2038 | 40,000 | 35,136 |
Royalty Pharma plc | ||
3.55%, 9/2/2050 | 51,000 | 34,157 |
3.35%, 9/2/2051 | 2,000 | 1,274 |
Shire Acquisitions Investments Ireland DAC 3.20%, 9/23/2026 | 20,000 | 19,093 |
Wyeth LLC | ||
6.50%, 2/1/2034 | 87,000 | 94,884 |
6.00%, 2/15/2036 | 91,000 | 96,478 |
1,396,566 | ||
Professional Services — 0.4% | ||
Automatic Data Processing, Inc. 3.38%, 9/15/2025 | 2,000 | 1,959 |
Concentrix Corp. 6.85%, 8/2/2033 | 25,000 | 24,479 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Professional Services — continued | ||
Equifax, Inc. 2.35%, 9/15/2031 | 151,000 | 123,280 |
Jacobs Engineering Group, Inc. 5.90%, 3/1/2033 | 41,000 | 40,765 |
190,483 | ||
Residential REITs — 0.3% | ||
American Homes 4 Rent LP 3.38%, 7/15/2051 | 10,000 | 6,461 |
Camden Property Trust 2.80%, 5/15/2030 | 60,000 | 52,603 |
Essex Portfolio LP 3.63%, 5/1/2027 | 61,000 | 58,212 |
UDR, Inc. 3.00%, 8/15/2031 | 11,000 | 9,415 |
126,691 | ||
Retail REITs — 0.5% | ||
Brixmor Operating Partnership LP 4.05%, 7/1/2030 | 60,000 | 55,243 |
Kimco Realty OP LLC 2.25%, 12/1/2031 | 10,000 | 7,955 |
NNN REIT, Inc. 3.00%, 4/15/2052 | 46,000 | 28,462 |
Realty Income Corp. | ||
4.85%, 3/15/2030 | 138,000 | 134,808 |
3.20%, 2/15/2031 | 29,000 | 25,313 |
4.65%, 3/15/2047 | 10,000 | 8,637 |
260,418 | ||
Semiconductors & Semiconductor Equipment — 2.3% | ||
Analog Devices, Inc. 3.50%, 12/5/2026 | 5,000 | 4,818 |
Broadcom Corp. 3.88%, 1/15/2027 | 72,000 | 69,495 |
Broadcom, Inc. | ||
1.95%, 2/15/2028 (d) | 183,000 | 162,816 |
2.45%, 2/15/2031 (d) | 2,000 | 1,670 |
4.15%, 4/15/2032 (d) | 2,000 | 1,828 |
4.30%, 11/15/2032 | 2,000 | 1,851 |
4.93%, 5/15/2037 (d) | 142,000 | 132,133 |
Intel Corp. | ||
3.70%, 7/29/2025 | 2,000 | 1,962 |
3.75%, 3/25/2027 | 5,000 | 4,824 |
3.90%, 3/25/2030 | 4,000 | 3,737 |
4.25%, 12/15/2042 | 129,000 | 107,087 |
5.63%, 2/10/2043 | 10,000 | 9,940 |
4.90%, 7/29/2045 | 39,000 | 35,802 |
3.20%, 8/12/2061 | 29,000 | 17,719 |
KLA Corp. 4.10%, 3/15/2029 | 86,000 | 83,163 |
Micron Technology, Inc. 5.88%, 9/15/2033 | 48,000 | 49,113 |
NVIDIA Corp. | ||
1.55%, 6/15/2028 | 7,000 | 6,195 |
2.00%, 6/15/2031 | 123,000 | 102,638 |
NXP BV (China) | ||
5.55%, 12/1/2028 | 40,000 | 40,319 |
3.25%, 5/11/2041 | 42,000 | 30,634 |
QUALCOMM, Inc. 3.25%, 5/20/2027 | 161,000 | 154,146 |
Texas Instruments, Inc. | ||
1.75%, 5/4/2030 | 23,000 | 19,256 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Semiconductors & Semiconductor Equipment — continued | ||
4.10%, 8/16/2052 | 55,000 | 44,959 |
5.00%, 3/14/2053 | 5,000 | 4,667 |
1,090,772 | ||
Software — 1.7% | ||
Adobe, Inc. 2.15%, 2/1/2027 | 71,000 | 66,073 |
Microsoft Corp. | ||
3.13%, 11/3/2025 | 19,000 | 18,496 |
3.30%, 2/6/2027 | 6,000 | 5,774 |
1.35%, 9/15/2030 (d) | 15,000 | 12,210 |
4.10%, 2/6/2037 | 146,000 | 135,549 |
5.20%, 6/1/2039 | 77,000 | 79,952 |
Oracle Corp. | ||
2.65%, 7/15/2026 | 27,000 | 25,503 |
2.30%, 3/25/2028 | 30,000 | 26,988 |
6.25%, 11/9/2032 | 5,000 | 5,272 |
4.30%, 7/8/2034 | 2,000 | 1,812 |
3.90%, 5/15/2035 | 57,000 | 49,336 |
3.85%, 7/15/2036 | 242,000 | 203,377 |
6.50%, 4/15/2038 | 15,000 | 16,005 |
3.60%, 4/1/2050 | 27,000 | 18,792 |
3.95%, 3/25/2051 | 73,000 | 53,742 |
3.85%, 4/1/2060 | 4,000 | 2,742 |
4.10%, 3/25/2061 | 69,000 | 49,537 |
Salesforce, Inc. | ||
3.70%, 4/11/2028 | 43,000 | 41,276 |
3.05%, 7/15/2061 | 10,000 | 6,169 |
818,605 | ||
Specialized REITs — 1.4% | ||
American Tower Corp. | ||
1.45%, 9/15/2026 | 2,000 | 1,829 |
2.10%, 6/15/2030 | 258,000 | 214,454 |
Crown Castle, Inc. | ||
1.35%, 7/15/2025 | 25,000 | 23,832 |
1.05%, 7/15/2026 | 26,000 | 23,701 |
3.65%, 9/1/2027 | 33,000 | 31,297 |
3.10%, 11/15/2029 | 12,000 | 10,661 |
5.20%, 2/15/2049 | 32,000 | 28,964 |
EPR Properties 4.50%, 6/1/2027 | 16,000 | 15,222 |
Equinix, Inc. | ||
1.25%, 7/15/2025 | 81,000 | 77,168 |
3.20%, 11/18/2029 | 128,000 | 114,652 |
Public Storage Operating Co. | ||
1.50%, 11/9/2026 | 61,000 | 55,860 |
2.25%, 11/9/2031 | 45,000 | 36,800 |
Weyerhaeuser Co. 4.00%, 3/9/2052 | 46,000 | 35,079 |
669,519 | ||
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Specialty Retail — 1.2% | ||
Home Depot, Inc. (The) | ||
2.70%, 4/15/2030 | 273,000 | 240,912 |
5.88%, 12/16/2036 | 20,000 | 21,051 |
4.20%, 4/1/2043 | 46,000 | 38,897 |
2.75%, 9/15/2051 | 57,000 | 35,131 |
Lowe's Cos., Inc. | ||
3.10%, 5/3/2027 | 82,000 | 77,707 |
2.80%, 9/15/2041 | 5,000 | 3,442 |
4.05%, 5/3/2047 | 66,000 | 51,083 |
4.45%, 4/1/2062 | 43,000 | 33,305 |
5.85%, 4/1/2063 | 20,000 | 19,559 |
O'Reilly Automotive, Inc. | ||
4.35%, 6/1/2028 | 44,000 | 42,733 |
4.20%, 4/1/2030 | 19,000 | 18,001 |
1.75%, 3/15/2031 | 3,000 | 2,405 |
Ross Stores, Inc. 0.88%, 4/15/2026 | 19,000 | 17,504 |
601,730 | ||
Technology Hardware, Storage & Peripherals — 1.8% | ||
Apple, Inc. | ||
0.70%, 2/8/2026 | 104,000 | 96,831 |
4.42%, 5/8/2026 | 14,000 | 13,899 |
2.90%, 9/12/2027 | 27,000 | 25,431 |
3.00%, 11/13/2027 | 7,000 | 6,619 |
1.20%, 2/8/2028 | 5,000 | 4,401 |
1.40%, 8/5/2028 | 50,000 | 43,738 |
4.15%, 5/10/2030 | 63,000 | 61,512 |
1.65%, 2/8/2031 | 29,000 | 23,840 |
4.50%, 2/23/2036 | 43,000 | 41,817 |
3.45%, 2/9/2045 | 29,000 | 22,528 |
4.65%, 2/23/2046 | 153,000 | 141,089 |
4.10%, 8/8/2062 | 14,000 | 11,233 |
Dell International LLC | ||
6.02%, 6/15/2026 | 56,000 | 56,485 |
6.10%, 7/15/2027 | 50,000 | 51,176 |
5.30%, 10/1/2029 | 40,000 | 40,041 |
6.20%, 7/15/2030 | 2,000 | 2,089 |
8.10%, 7/15/2036 | 46,000 | 54,911 |
HP, Inc. | ||
4.00%, 4/15/2029 | 192,000 | 182,033 |
6.00%, 9/15/2041 | 7,000 | 7,157 |
886,830 | ||
Textiles, Apparel & Luxury Goods — 0.1% | ||
NIKE, Inc. | ||
2.38%, 11/1/2026 | 16,000 | 15,041 |
3.88%, 11/1/2045 | 20,000 | 16,082 |
31,123 | ||
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Tobacco — 1.4% | ||
Altria Group, Inc. | ||
4.50%, 5/2/2043 | 45,000 | 36,801 |
5.95%, 2/14/2049 | 46,000 | 44,931 |
4.45%, 5/6/2050 | 5,000 | 3,828 |
4.00%, 2/4/2061 | 70,000 | 48,564 |
BAT Capital Corp. (United Kingdom) | ||
4.70%, 4/2/2027 | 64,000 | 62,881 |
2.73%, 3/25/2031 | 49,000 | 41,172 |
4.39%, 8/15/2037 | 3,000 | 2,531 |
5.28%, 4/2/2050 | 69,000 | 58,668 |
5.65%, 3/16/2052 | 21,000 | 18,859 |
7.08%, 8/2/2053 | 6,000 | 6,449 |
Philip Morris International, Inc. | ||
4.88%, 2/15/2028 | 117,000 | 115,748 |
5.13%, 2/15/2030 | 131,000 | 130,023 |
5.75%, 11/17/2032 | 54,000 | 55,086 |
6.38%, 5/16/2038 | 8,000 | 8,579 |
4.38%, 11/15/2041 | 30,000 | 25,239 |
Reynolds American, Inc. (United Kingdom) 4.45%, 6/12/2025 | 30,000 | 29,640 |
688,999 | ||
Trading Companies & Distributors — 0.3% | ||
Air Lease Corp. | ||
3.63%, 12/1/2027 | 20,000 | 18,823 |
3.13%, 12/1/2030 | 40,000 | 34,790 |
2.88%, 1/15/2032 | 24,000 | 20,029 |
GATX Corp. | ||
3.50%, 6/1/2032 | 1,000 | 864 |
5.45%, 9/15/2033 | 7,000 | 6,866 |
6.05%, 3/15/2034 | 52,000 | 52,859 |
134,231 | ||
Water Utilities — 0.2% | ||
American Water Capital Corp. | ||
2.80%, 5/1/2030 | 7,000 | 6,127 |
6.59%, 10/15/2037 | 3,000 | 3,301 |
4.00%, 12/1/2046 | 49,000 | 38,967 |
3.75%, 9/1/2047 | 18,000 | 13,640 |
4.20%, 9/1/2048 | 11,000 | 8,964 |
Essential Utilities, Inc. | ||
2.40%, 5/1/2031 | 34,000 | 27,896 |
5.30%, 5/1/2052 | 15,000 | 13,688 |
112,583 | ||
Wireless Telecommunication Services — 1.3% | ||
Rogers Communications, Inc. (Canada) 5.45%, 10/1/2043 | 65,000 | 61,298 |
T-Mobile USA, Inc. | ||
3.75%, 4/15/2027 | 142,000 | 136,136 |
3.88%, 4/15/2030 | 168,000 | 156,144 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)INVESTMENTS | PRINCIPAL AMOUNT($) | VALUE($) |
Corporate Bonds — continued | ||
Wireless Telecommunication Services — continued | ||
3.50%, 4/15/2031 | 218,000 | 194,808 |
Vodafone Group plc (United Kingdom) | ||
4.38%, 5/30/2028 | 1,000 | 976 |
5.13%, 6/19/2059 | 78,000 | 68,553 |
617,915 | ||
Total Corporate Bonds (Cost $49,009,023) | 47,345,078 | |
SHARES | ||
Short-Term Investments — 1.0% | ||
Investment Companies — 1.0% | ||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.26% (f) (g) (Cost $497,496) | 497,496 | 497,496 |
Total Investments — 99.4% (Cost $49,506,519) | 47,842,574 | |
Other Assets Less Liabilities — 0.6% | 302,946 | |
NET ASSETS — 100.0% | 48,145,520 | |
Percentages indicated are based on net assets. |
Abbreviations | |
CME | Chicago Mercantile Exchange |
ICE | Intercontinental Exchange |
OYJ | Public Limited Company |
REIT | Real Estate Investment Trust |
SOFR | Secured Overnight Financing Rate |
SOFRINDX | Compounding index of the Secured Overnight Financing Rate |
USD | United States Dollar |
^ | Amount rounds to less than 0.1% of net assets. | |
(a) | Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future contingent upon a predetermined trigger. The interest rate shown is the current rate as of May 31, 2024. | |
(b) | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of May 31, 2024. | |
(c) | Contingent Capital security (“CoCo”). CoCos are hybrid debt securities that may be convertible into equity or may be written down if a pre-specified trigger event occurs. The total value of aggregate CoCo holdings at May 31, 2024 is $167,019 or 0.35% of the Fund’s net assets as of May 31, 2024. | |
(d) | Securities exempt from registration under Rule 144A or section 4(a)(2), of the Securities Act of 1933, as amended. | |
(e) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of May 31, 2024. | |
(f) | 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. | |
(g) | The rate shown is the current yield as of May 31, 2024. | |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)A. Valuation of Investments— Investments are valued in accordance with U.S. generally accepted accounting principles (“GAAP”) and the Fund's valuation policies set forth by, and under the supervision and responsibility of, the Board of Trustees of the Trust (the “Board”), which established the following approach to valuation, as described more fully below: (i) investments for which market quotations are readily available shall be valued at their market value and (ii) all other investments for which market quotations are not readily available shall be valued at their fair value as determined in good faith by the Board.
Under Section 2(a)(41) of the Investment Company Act of 1940, the Board is required to determine fair value for securities that do not have readily available market quotations. Under SEC Rule 2a-5 (Good Faith Determinations of Fair Value), the Board may designate the performance of these fair valuation determinations to a valuation designee. The Board has designated the Adviser as the “Valuation Designee” to perform fair valuation determinations for the Fund on behalf of the Board subject to appropriate oversight by the Board. The Adviser, as Valuation Designee, leverages the J.P. Morgan Asset Management Americas Valuation Committee (“AVC”) to help oversee and carry out the policies for the valuation of investments held in the Fund. The Adviser, as Valuation Designee, remains responsible for the valuation determinations.
This oversight by the AVC includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight including, but not limited to, consideration of macro or security specific events, market events, and pricing vendor and broker due diligence. The Administrator is responsible for discussing and assessing the potential impacts to the fair values on an ongoing basis, and, at least on a quarterly basis, with the AVC and the Board.
Fixed income instruments are valued based on prices received from approved affiliated and unaffiliated pricing vendors or third party broker-dealers (collectively referred to as “Pricing Services”). The Pricing Services use multiple valuation techniques to determine the valuation of fixed income instruments. In instances where sufficient market activity exists, the Pricing Services may utilize a market-based approach through which trades or quotes from market makers are used to determine the valuation of these instruments. In instances where sufficient market activity may not exist, the Pricing Services also utilize proprietary valuation models which may consider market transactions in comparable securities and the various relationships between securities in determining fair value and/or market characteristics in order to estimate the relevant cash flows, which are then discounted to calculate the fair values.
Equities and other exchange-traded instruments are valued at the last sale price or official market closing price on the primary exchange on which the instrument is traded before the net asset value (“NAV”) of the Fund is calculated on a valuation date.
Investments in open-end investment companies (“Underlying Funds”) are valued at each Underlying Fund’s NAV per share as of the report date.
Valuations reflected in this report are as of the report date. As a result, changes in valuation due to market events and/or issuer-related events after the report date and prior to issuance of the report are not reflected herein.
The various inputs that are used in determining the valuation of the Fund's investments are summarized into the three broad levels listed below.
•
Level 1 — Unadjusted inputs using quoted prices in active markets for identical investments.
•
Level 2 — Other significant observable inputs including, but not limited to, quoted prices for similar investments, inputs other than quoted prices that are observable for investments (such as interest rates, prepayment speeds, credit risk, etc.) or other market corroborated inputs.
•
Level 3 — Significant inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund's assumptions in determining the fair value of investments).
A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input, both individually and in the aggregate, that is significant to the fair value measurement. The inputs or methodology used for valuing instruments are not necessarily an indication of the risk associated with investing in those instruments.
The following table represents each valuation input as presented on the Schedule of Portfolio Investments:
Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Investments in Securities | ||||
Corporate Bonds | $— | $47,345,078 | $— | $47,345,078 |
JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF
SCHEDULE OF PORTFOLIO INVESTMENTS
AS OF May 31, 2024 (Unaudited) (continued)Level 1 Quoted prices | Level 2 Other significant observable inputs | Level 3 Significant unobservable inputs | Total | |
Short-Term Investments | ||||
Investment Companies | $497,496 | $— | $— | $497,496 |
Total Investments in Securities | $497,496 | $47,345,078 | $— | $47,842,574 |
B. Investment Transactions with Affiliates— The Fund invested in an Underlying Fund advised by the Adviser. An issuer which is under common control with the Fund may be considered an affiliate. The Fund assumes the issuer listed in the table below to be an affiliated issuer. The Underlying Fund's distributions may be reinvested into such Underlying Fund. Reinvestment amounts are included in the purchases at cost amounts in the table below.
For the period ended May 31, 2024 | |||||||||
Security Description | Value at February 29, 2024 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation/ (Depreciation) | Value at May 31, 2024 | Shares at May 31, 2024 | Dividend Income | Capital Gain Distributions |
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.26% (a) (b) | $56,033 | $1,170,786 | $729,323 | $— | $— | $497,496 | 497,496 | $3,404 | $— |
(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 May 31, 2024. |