JPMorgan Core Plus 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.
|
JPMorgan Asset Management is the marketing name for the asset
management business of J.P. Morgan Chase & Co.
|
J.P. Morgan Distribution Services, Inc., member FINRA.
|
© J.P. Morgan Chase & Co., 2024.
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — 28.5%
|
||
Aerospace & Defense — 0.4%
|
||
Boeing Co. (The)
|
||
2.75%, 2/1/2026
|
14,000
|
13,249
|
2.20%, 2/4/2026
|
95,000
|
89,160
|
3.10%, 5/1/2026
|
35,000
|
33,170
|
2.70%, 2/1/2027
|
65,000
|
59,653
|
6.30%, 5/1/2029 (a)
|
775,000
|
781,281
|
6.39%, 5/1/2031 (a)
|
435,000
|
440,028
|
6.53%, 5/1/2034 (a)
|
1,045,000
|
1,059,545
|
6.86%, 5/1/2054 (a)
|
610,000
|
618,676
|
5.93%, 5/1/2060
|
1,580,000
|
1,393,613
|
Bombardier, Inc. (Canada) 6.00%, 2/15/2028 (a)
|
980,000
|
964,025
|
BWX Technologies, Inc. 4.13%, 4/15/2029 (a)
|
580,000
|
530,785
|
L3Harris Technologies, Inc. 5.60%, 7/31/2053
|
217,000
|
215,057
|
Lockheed Martin Corp.
|
||
4.70%, 5/15/2046
|
100,000
|
90,457
|
4.15%, 6/15/2053
|
650,000
|
524,698
|
Precision Castparts Corp. 4.38%, 6/15/2045
|
154,000
|
134,612
|
RTX Corp.
|
||
4.13%, 11/16/2028
|
1,735,000
|
1,662,035
|
1.90%, 9/1/2031
|
450,000
|
358,114
|
5.15%, 2/27/2033
|
365,000
|
359,033
|
4.50%, 6/1/2042
|
100,000
|
86,940
|
3.03%, 3/15/2052
|
650,000
|
413,514
|
5.38%, 2/27/2053
|
144,000
|
136,766
|
6.40%, 3/15/2054
|
185,000
|
201,691
|
Spirit AeroSystems, Inc. 9.38%, 11/30/2029 (a)
|
253,000
|
271,409
|
TransDigm, Inc.
|
||
6.75%, 8/15/2028 (a)
|
465,000
|
470,273
|
6.38%, 3/1/2029 (a)
|
392,000
|
391,150
|
6.63%, 3/1/2032 (a)
|
380,000
|
381,126
|
Wesco Aircraft Holdings, Inc. 9.00%, 11/15/2026 (a) (b)
|
20,000
|
2,750
|
|
|
11,682,810
|
Automobile Components — 0.2%
|
||
Adient Global Holdings Ltd.
|
||
4.88%, 8/15/2026 (a)
|
400,000
|
388,288
|
7.00%, 4/15/2028 (a)
|
450,000
|
459,477
|
Allison Transmission, Inc.
|
||
5.88%, 6/1/2029 (a)
|
621,000
|
610,936
|
3.75%, 1/30/2031 (a)
|
75,000
|
64,990
|
American Axle & Manufacturing, Inc.
|
||
6.50%, 4/1/2027
|
730,000
|
726,020
|
6.88%, 7/1/2028
|
625,000
|
620,304
|
5.00%, 10/1/2029
|
75,000
|
68,285
|
Aptiv plc 5.40%, 3/15/2049
|
25,000
|
22,291
|
Clarios Global LP
|
||
6.25%, 5/15/2026 (a)
|
427,000
|
426,633
|
6.75%, 5/15/2028 (a)
|
830,000
|
838,727
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Automobile Components — continued
|
||
Cooper-Standard Automotive, Inc.
|
||
13.50% (Blend (Cash 9.00% + PIK 4.50%)), 3/31/2027 (a) (c)
|
45,245
|
48,373
|
10.63% (PIK), 5/15/2027 (a) (c)
|
32,879
|
23,183
|
Dana, Inc.
|
||
5.38%, 11/15/2027
|
590,000
|
573,345
|
5.63%, 6/15/2028
|
230,000
|
222,515
|
4.50%, 2/15/2032
|
40,000
|
33,921
|
Goodyear Tire & Rubber Co. (The)
|
||
4.88%, 3/15/2027
|
120,000
|
115,299
|
5.00%, 7/15/2029
|
1,341,000
|
1,233,239
|
5.25%, 7/15/2031
|
660,000
|
596,781
|
Icahn Enterprises LP
|
||
6.38%, 12/15/2025
|
247,000
|
246,791
|
5.25%, 5/15/2027
|
315,000
|
288,999
|
Lear Corp. 2.60%, 1/15/2032
|
10,000
|
8,137
|
|
|
7,616,534
|
Automobiles — 0.1%
|
||
Ford Motor Co.
|
||
9.63%, 4/22/2030
|
810,000
|
938,347
|
3.25%, 2/12/2032
|
2,255,000
|
1,853,424
|
4.75%, 1/15/2043
|
380,000
|
307,221
|
General Motors Co. 5.95%, 4/1/2049
|
25,000
|
24,080
|
Hyundai Capital America
|
||
1.50%, 6/15/2026 (a)
|
940,000
|
865,062
|
3.00%, 2/10/2027 (a)
|
200,000
|
187,447
|
|
|
4,175,581
|
Banks — 6.0%
|
||
ABN AMRO Bank NV (Netherlands)
|
||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.55%), 6.58%, 10/13/2026 (a) (d)
|
600,000
|
605,568
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.65%), 6.34%, 9/18/2027 (a) (d)
|
200,000
|
202,410
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 2.47%, 12/13/2029 (a) (d)
|
1,000,000
|
875,984
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.90%), 3.32%, 3/13/2037 (a) (d)
|
200,000
|
163,887
|
AIB Group plc (Ireland) (SOFR + 2.33%), 6.61%, 9/13/2029 (a) (d)
|
2,600,000
|
2,673,227
|
ANZ New Zealand Int'l Ltd. (New Zealand) 5.36%, 8/14/2028 (a)
|
900,000
|
905,963
|
ASB Bank Ltd. (New Zealand) 2.38%, 10/22/2031 (a)
|
200,000
|
162,398
|
Banco Bilbao Vizcaya Argentaria SA (Spain) (US Treasury Yield Curve Rate T Note Constant
Maturity 5 Year + 5.10%),
9.38%, 3/19/2029 (d) (e) (f) (g)
|
1,995,000
|
2,128,719
|
Banco Santander SA (Spain)
|
||
2.75%, 5/28/2025
|
200,000
|
194,251
|
5.59%, 8/8/2028
|
2,800,000
|
2,816,313
|
6.61%, 11/7/2028
|
600,000
|
629,114
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 5.31%), 9.63%, 11/21/2028 (d) (e) (f) (g)
|
2,000,000
|
2,137,874
|
Bank of America Corp.
|
||
(SOFR + 1.01%), 1.20%, 10/24/2026 (d)
|
2,600,000
|
2,445,303
|
(3-MONTH CME TERM SOFR + 1.84%), 3.82%, 1/20/2028 (d)
|
3,436,000
|
3,303,312
|
(3-MONTH CME TERM SOFR + 1.77%), 3.71%, 4/24/2028 (d)
|
1,205,000
|
1,150,227
|
(3-MONTH CME TERM SOFR + 1.63%), 3.59%, 7/21/2028 (d)
|
261,000
|
247,685
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Banks — continued
|
||
(SOFR + 2.04%), 4.95%, 7/22/2028 (d)
|
390,000
|
385,523
|
(3-MONTH CME TERM SOFR + 1.30%), 3.42%, 12/20/2028 (d)
|
454,000
|
425,054
|
(SOFR + 1.63%), 5.20%, 4/25/2029 (d)
|
1,190,000
|
1,183,573
|
(SOFR + 1.06%), 2.09%, 6/14/2029 (d)
|
635,000
|
560,137
|
(SOFR + 1.57%), 5.82%, 9/15/2029 (d)
|
7,258,000
|
7,380,803
|
(SOFR + 1.53%), 1.90%, 7/23/2031 (d)
|
660,000
|
538,924
|
Series N, (SOFR + 1.22%), 2.65%, 3/11/2032 (d)
|
2,660,000
|
2,235,604
|
(SOFR + 1.22%), 2.30%, 7/21/2032 (d)
|
1,900,000
|
1,546,225
|
(SOFR + 1.21%), 2.57%, 10/20/2032 (d)
|
640,000
|
527,958
|
(SOFR + 1.91%), 5.29%, 4/25/2034 (d)
|
1,510,000
|
1,486,558
|
(SOFR + 1.84%), 5.87%, 9/15/2034 (d)
|
4,270,000
|
4,366,246
|
(SOFR + 1.65%), 5.47%, 1/23/2035 (d)
|
2,200,000
|
2,185,544
|
(3-MONTH CME TERM SOFR + 1.58%), 4.08%, 4/23/2040 (d)
|
112,000
|
95,014
|
Bank of Ireland Group plc (Ireland)
|
||
(EUR Swap Annual 5 Year + 7.92%), 7.50%, 5/19/2025 (d) (e) (f) (g) (h)
|
1,200,000
|
1,322,700
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.65%), 6.25%, 9/16/2026 (a) (d)
|
259,000
|
260,070
|
(SOFR + 1.62%), 5.60%, 3/20/2030 (a) (d)
|
535,000
|
528,592
|
Bank of Montreal (Canada)
|
||
5.30%, 6/5/2026
|
300,000
|
299,465
|
5.51%, 6/4/2031
|
550,000
|
552,261
|
Bank of Nova Scotia (The) (Canada) 2.15%, 8/1/2031
|
650,000
|
529,529
|
Banque Federative du Credit Mutuel SA (France)
|
||
4.94%, 1/26/2026 (a)
|
200,000
|
198,251
|
1.60%, 10/4/2026 (a)
|
200,000
|
183,616
|
5.79%, 7/13/2028 (a)
|
1,005,000
|
1,023,036
|
Barclays plc (United Kingdom)
|
||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.30%), 7.39%, 11/2/2028 (d)
|
1,400,000
|
1,474,084
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.50%), 7.44%, 11/2/2033 (d)
|
1,335,000
|
1,467,916
|
BNP Paribas SA (France)
|
||
(SOFR + 1.61%), 1.90%, 9/30/2028 (a) (d)
|
450,000
|
401,078
|
(SOFR + 1.22%), 2.16%, 9/15/2029 (a) (d)
|
1,500,000
|
1,305,313
|
(SOFR + 1.52%), 5.18%, 1/9/2030 (a) (d)
|
1,360,000
|
1,348,594
|
(SOFR + 1.59%), 5.50%, 5/20/2030 (a) (d)
|
1,245,000
|
1,239,628
|
(SOFR + 1.88%), 5.74%, 2/20/2035 (a) (d)
|
1,260,000
|
1,256,311
|
BPCE SA (France)
|
||
4.75%, 7/19/2027 (a)
|
450,000
|
442,014
|
(SOFR + 1.98%), 6.61%, 10/19/2027 (a) (d)
|
1,480,000
|
1,504,237
|
5.13%, 1/18/2028 (a)
|
745,000
|
738,667
|
(SOFR + 2.27%), 6.71%, 10/19/2029 (a) (d)
|
5,680,000
|
5,901,479
|
(SOFR + 1.31%), 2.28%, 1/20/2032 (a) (d)
|
575,000
|
464,959
|
(SOFR + 1.73%), 3.12%, 10/19/2032 (a) (d)
|
250,000
|
205,623
|
(SOFR + 2.59%), 7.00%, 10/19/2034 (a) (d)
|
890,000
|
958,743
|
(SOFR + 1.85%), 5.94%, 5/30/2035 (a) (d)
|
765,000
|
764,831
|
CaixaBank SA (Spain)
|
||
(SOFR + 2.08%), 6.68%, 9/13/2027 (a) (d)
|
820,000
|
834,874
|
(EUR Swap Annual 5 Year + 6.35%), 5.88%, 10/9/2027 (d) (e) (f) (g) (h)
|
800,000
|
853,861
|
(EUR Swap Annual 5 Year + 3.55%), 6.25%, 2/23/2033 (d) (h)
|
800,000
|
914,072
|
Canadian Imperial Bank of Commerce (Canada) 5.99%, 10/3/2028
|
500,000
|
512,827
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Banks — continued
|
||
Citibank NA 5.80%, 9/29/2028
|
500,000
|
512,930
|
Citigroup, Inc.
|
||
Series W, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.60%),
4.00%, 12/10/2025 (d) (f) (g)
|
1,761,000
|
1,682,864
|
(SOFR + 0.77%), 1.46%, 6/9/2027 (d)
|
650,000
|
599,999
|
(3-MONTH CME TERM SOFR + 1.82%), 3.89%, 1/10/2028 (d)
|
1,115,000
|
1,074,152
|
(3-MONTH CME TERM SOFR + 1.65%), 3.67%, 7/24/2028 (d)
|
1,200,000
|
1,140,072
|
(3-MONTH CME TERM SOFR + 1.45%), 4.08%, 4/23/2029 (d)
|
1,295,000
|
1,237,201
|
Series CC, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.69%),
7.13%, 8/15/2029 (d) (f) (g)
|
1,490,000
|
1,486,678
|
(SOFR + 1.36%), 5.17%, 2/13/2030 (d)
|
645,000
|
638,707
|
(3-MONTH CME TERM SOFR + 1.60%), 3.98%, 3/20/2030 (d)
|
500,000
|
470,274
|
(SOFR + 1.15%), 2.67%, 1/29/2031 (d)
|
1,650,000
|
1,428,579
|
(SOFR + 3.91%), 4.41%, 3/31/2031 (d)
|
155,000
|
147,183
|
(SOFR + 2.11%), 2.57%, 6/3/2031 (d)
|
620,000
|
528,985
|
(SOFR + 1.17%), 2.56%, 5/1/2032 (d)
|
2,990,000
|
2,485,827
|
(SOFR + 1.18%), 2.52%, 11/3/2032 (d)
|
1,665,000
|
1,365,421
|
(SOFR + 1.94%), 3.79%, 3/17/2033 (d)
|
400,000
|
355,452
|
(SOFR + 2.34%), 6.27%, 11/17/2033 (d)
|
3,300,000
|
3,459,878
|
(SOFR + 2.06%), 5.83%, 2/13/2035 (d)
|
2,000,000
|
1,979,421
|
(SOFR + 1.38%), 2.90%, 11/3/2042 (d)
|
55,000
|
38,640
|
Cooperatieve Rabobank UA (Netherlands) (US Treasury Yield Curve Rate T Note Constant
Maturity 1 Year + 1.22%),
3.65%, 4/6/2028 (a) (d)
|
890,000
|
846,844
|
Credit Agricole SA (France)
|
||
(SOFR + 0.89%), 1.25%, 1/26/2027 (a) (d)
|
250,000
|
232,839
|
5.30%, 7/12/2028 (a)
|
990,000
|
995,086
|
(SOFR + 1.86%), 6.32%, 10/3/2029 (a) (d)
|
3,245,000
|
3,345,047
|
(SOFR + 1.69%), 5.34%, 1/10/2030 (a) (d)
|
400,000
|
397,428
|
Danske Bank A/S (Denmark)
|
||
(3-MONTH SOFR + 1.59%), 3.24%, 12/20/2025 (a) (d)
|
200,000
|
197,056
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.40%), 5.71%, 3/1/2030 (a) (d)
|
345,000
|
345,373
|
DNB Bank ASA (Norway) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year
+ 0.85%), 1.13%,
9/16/2026 (a) (d)
|
375,000
|
354,012
|
HSBC Holdings plc (United Kingdom)
|
||
(SOFR + 1.57%), 5.89%, 8/14/2027 (d)
|
1,015,000
|
1,021,850
|
(SOFR + 2.61%), 5.21%, 8/11/2028 (d)
|
305,000
|
302,170
|
(SOFR + 1.73%), 2.01%, 9/22/2028 (d)
|
5,370,000
|
4,803,796
|
(SOFR + 3.35%), 7.39%, 11/3/2028 (d)
|
250,000
|
264,037
|
(SOFR + 1.29%), 2.21%, 8/17/2029 (d)
|
1,200,000
|
1,050,775
|
(3-MONTH CME TERM SOFR + 1.87%), 3.97%, 5/22/2030 (d)
|
5,750,000
|
5,353,323
|
(SOFR + 1.52%), 5.73%, 5/17/2032 (d)
|
1,475,000
|
1,479,433
|
(SOFR + 1.19%), 2.80%, 5/24/2032 (d)
|
500,000
|
418,979
|
(SOFR + 1.41%), 2.87%, 11/22/2032 (d)
|
250,000
|
208,189
|
6.10%, 1/14/2042
|
230,000
|
245,751
|
Intesa Sanpaolo SpA (Italy)
|
||
(EUR Swap Annual 5 Year + 7.19%), 7.75%, 1/11/2027 (d) (e) (f) (g) (h)
|
400,000
|
448,668
|
7.20%, 11/28/2033 (a)
|
3,373,000
|
3,627,024
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.75%), 4.95%, 6/1/2042 (a) (d)
|
200,000
|
150,238
|
KBC Group NV (Belgium) (EURIBOR ICE Swap Rate 5 Year + 4.93%), 8.00%, 9/5/2028 (d) (e) (f) (g) (h)
|
1,400,000
|
1,620,969
|
KeyCorp (SOFRINDX + 2.42%), 6.40%, 3/6/2035 (d)
|
1,402,000
|
1,411,400
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Banks — continued
|
||
Lloyds Banking Group plc (United Kingdom)
|
||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.60%), 3.51%, 3/18/2026 (d)
|
200,000
|
196,365
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.38%), 5.46%, 1/5/2028 (d)
|
350,000
|
349,067
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.07%), 5.72%, 6/5/2030 (d)
|
1,380,000
|
1,387,922
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.30%), 4.98%, 8/11/2033 (d)
|
1,160,000
|
1,110,687
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.75%), 5.68%, 1/5/2035 (d)
|
380,000
|
378,686
|
Mitsubishi UFJ Financial Group, Inc. (Japan)
|
||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.75%), 1.54%, 7/20/2027 (d)
|
1,060,000
|
977,106
|
Series 8NC7, (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.53%),
5.48%, 2/22/2031 (d)
|
200,000
|
200,919
|
Mizuho Financial Group, Inc. (Japan)
|
||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.65%), 5.78%, 7/6/2029 (d)
|
580,000
|
587,089
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.90%), 5.75%, 7/6/2034 (d)
|
270,000
|
274,166
|
National Australia Bank Ltd. (Australia) 4.90%, 6/13/2028
|
250,000
|
248,946
|
NatWest Group plc (United Kingdom)
|
||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.35%), 5.85%, 3/2/2027 (d)
|
800,000
|
802,157
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.55%), 3.07%, 5/22/2028 (d)
|
600,000
|
560,146
|
(3-MONTH SOFR + 1.91%), 5.08%, 1/27/2030 (d)
|
665,000
|
651,507
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.75%), 8.13%, 11/10/2033 (d) (e) (f) (g)
|
1,260,000
|
1,277,680
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.50%), 5.78%, 3/1/2035 (d)
|
1,124,000
|
1,124,750
|
NatWest Markets plc (United Kingdom) 5.41%, 5/17/2029 (a)
|
1,795,000
|
1,789,605
|
Nordea Bank Abp (Finland) 5.38%, 9/22/2027 (a)
|
400,000
|
400,495
|
PNC Financial Services Group, Inc. (The)
|
||
2.55%, 1/22/2030
|
639,000
|
555,488
|
(SOFR + 0.98%), 2.31%, 4/23/2032 (d)
|
50,000
|
41,188
|
(SOFR + 1.95%), 5.94%, 8/18/2034 (d)
|
680,000
|
692,577
|
(SOFR + 2.28%), 6.88%, 10/20/2034 (d)
|
1,465,000
|
1,587,779
|
(SOFR + 1.90%), 5.68%, 1/22/2035 (d)
|
400,000
|
400,015
|
Royal Bank of Canada (Canada) 4.65%, 1/27/2026 (e)
|
245,000
|
241,792
|
Santander Holdings USA, Inc. (SOFR + 2.50%), 6.17%, 1/9/2030 (d)
|
455,000
|
458,041
|
Santander UK Group Holdings plc (United Kingdom)
|
||
(SOFR + 2.75%), 6.83%, 11/21/2026 (d)
|
1,340,000
|
1,359,402
|
(SOFR + 0.99%), 1.67%, 6/14/2027 (d)
|
200,000
|
184,366
|
Skandinaviska Enskilda Banken AB (Sweden) 5.38%, 3/5/2029 (a)
|
410,000
|
408,148
|
Societe Generale SA (France)
|
||
4.25%, 4/14/2025 (a)
|
200,000
|
196,724
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%), 1.49%, 12/14/2026 (a) (d)
|
1,700,000
|
1,588,668
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.30%), 6.45%, 1/12/2027 (a) (d)
|
200,000
|
201,571
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%), 1.79%, 6/9/2027 (a) (d)
|
200,000
|
184,245
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.30%), 2.80%, 1/19/2028 (a) (d)
|
1,200,000
|
1,108,880
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.55%), 6.45%, 1/10/2029 (a) (d)
|
1,800,000
|
1,837,972
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.75%), 5.63%, 1/19/2030 (a) (d)
|
3,700,000
|
3,669,765
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.10%), 6.07%, 1/19/2035 (a) (d)
|
1,110,000
|
1,110,086
|
Standard Chartered plc (United Kingdom)
|
||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.00%), 1.46%, 1/14/2027 (a) (d)
|
610,000
|
568,590
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.05%), 5.69%, 5/14/2028 (a) (d)
|
555,000
|
555,000
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.45%), 7.77%, 11/16/2028 (a) (d)
|
1,400,000
|
1,488,200
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.45%), 6.30%, 1/9/2029 (a)
|
200,000
|
203,938
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.20%), 7.02%, 2/8/2030 (a) (d)
|
3,548,000
|
3,732,052
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Banks — continued
|
||
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.10%), 6.10%, 1/11/2035 (a) (d)
|
525,000
|
535,172
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.45%), 5.91%, 5/14/2035 (a) (d)
|
1,090,000
|
1,088,093
|
Sumitomo Mitsui Financial Group, Inc. (Japan)
|
||
5.52%, 1/13/2028
|
255,000
|
257,595
|
5.72%, 9/14/2028
|
680,000
|
691,289
|
5.77%, 1/13/2033
|
200,000
|
205,321
|
Sumitomo Mitsui Trust Bank Ltd. (Japan)
|
||
1.05%, 9/12/2025 (a)
|
60,000
|
56,692
|
4.95%, 9/15/2027 (a)
|
200,000
|
197,949
|
Svenska Handelsbanken AB (Sweden) 5.50%, 6/15/2028 (a)
|
970,000
|
972,879
|
Swedbank AB (Sweden) 5.34%, 9/20/2027 (a)
|
200,000
|
199,380
|
Toronto-Dominion Bank (The) (Canada)
|
||
5.52%, 7/17/2028
|
100,000
|
100,887
|
4.99%, 4/5/2029
|
1,010,000
|
996,314
|
2.00%, 9/10/2031
|
385,000
|
310,675
|
4.46%, 6/8/2032
|
120,000
|
112,812
|
Truist Financial Corp.
|
||
(SOFR + 2.05%), 6.05%, 6/8/2027 (d)
|
2,300,000
|
2,317,014
|
(SOFR + 1.85%), 5.12%, 1/26/2034 (d)
|
2,090,000
|
1,990,442
|
(SOFR + 2.36%), 5.87%, 6/8/2034 (d)
|
588,000
|
589,926
|
(SOFR + 1.92%), 5.71%, 1/24/2035 (d)
|
608,000
|
604,133
|
UniCredit SpA (Italy) (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year
+ 1.20%), 1.98%,
6/3/2027 (a) (d)
|
200,000
|
185,772
|
US Bancorp
|
||
(SOFR + 0.73%), 2.22%, 1/27/2028 (d)
|
800,000
|
736,496
|
(SOFR + 1.56%), 5.38%, 1/23/2030 (d)
|
370,000
|
369,080
|
(SOFR + 1.86%), 5.68%, 1/23/2035 (d)
|
590,000
|
589,123
|
Wells Fargo & Co.
|
||
(3-MONTH CME TERM SOFR + 1.01%), 2.16%, 2/11/2026 (d)
|
913,000
|
890,739
|
(SOFR + 1.32%), 3.91%, 4/25/2026 (d)
|
600,000
|
590,257
|
3.00%, 10/23/2026
|
360,000
|
341,433
|
(SOFR + 1.07%), 5.71%, 4/22/2028 (d)
|
2,110,000
|
2,124,443
|
(3-MONTH CME TERM SOFR + 1.57%), 3.58%, 5/22/2028 (d)
|
1,481,000
|
1,407,858
|
(SOFR + 1.98%), 4.81%, 7/25/2028 (d)
|
320,000
|
314,304
|
(SOFR + 1.74%), 5.57%, 7/25/2029 (d)
|
860,000
|
864,862
|
(SOFR + 1.79%), 6.30%, 10/23/2029 (d)
|
1,840,000
|
1,904,041
|
(SOFR + 1.50%), 5.20%, 1/23/2030 (d)
|
1,990,000
|
1,973,007
|
(3-MONTH CME TERM SOFR + 1.26%), 2.57%, 2/11/2031 (d)
|
250,000
|
215,152
|
(SOFR + 1.50%), 3.35%, 3/2/2033 (d)
|
2,340,000
|
2,017,842
|
(SOFR + 2.02%), 5.39%, 4/24/2034 (d)
|
1,740,000
|
1,712,489
|
(SOFR + 1.99%), 5.56%, 7/25/2034 (d)
|
3,110,000
|
3,096,081
|
(SOFR + 2.06%), 6.49%, 10/23/2034 (d)
|
1,420,000
|
1,510,344
|
Westpac Banking Corp. (Australia)
|
||
5.54%, 11/17/2028
|
300,000
|
305,748
|
1.95%, 11/20/2028
|
30,000
|
26,343
|
Westpac New Zealand Ltd. (New Zealand) 5.20%, 2/28/2029 (a)
|
540,000
|
536,632
|
|
|
188,428,978
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Beverages — 0.1%
|
||
Anheuser-Busch Cos. LLC (Belgium) 4.70%, 2/1/2036
|
540,000
|
509,885
|
Anheuser-Busch InBev Worldwide, Inc. (Belgium) 4.38%, 4/15/2038
|
250,000
|
225,809
|
Coca-Cola Co. (The) 5.30%, 5/13/2054
|
690,000
|
680,043
|
Coca-Cola Femsa SAB de CV (Mexico) 2.75%, 1/22/2030
|
180,000
|
156,960
|
Constellation Brands, Inc.
|
||
4.65%, 11/15/2028
|
345,000
|
337,509
|
4.50%, 5/9/2047
|
120,000
|
100,297
|
Diageo Capital plc (United Kingdom) 3.88%, 4/29/2043
|
430,000
|
353,436
|
Keurig Dr Pepper, Inc. Series 10, 5.20%, 3/15/2031
|
690,000
|
684,730
|
Keurig Dr. Pepper, Inc. 3.40%, 11/15/2025
|
38,000
|
36,918
|
Molson Coors Beverage Co. 4.20%, 7/15/2046
|
190,000
|
152,436
|
PepsiCo, Inc. 2.75%, 10/21/2051
|
415,000
|
262,722
|
|
|
3,500,745
|
Biotechnology — 0.5%
|
||
AbbVie, Inc.
|
||
3.20%, 11/21/2029
|
2,000,000
|
1,823,421
|
5.05%, 3/15/2034
|
1,620,000
|
1,602,734
|
4.05%, 11/21/2039
|
2,147,000
|
1,852,596
|
4.25%, 11/21/2049
|
230,000
|
191,058
|
5.40%, 3/15/2054
|
280,000
|
276,021
|
5.50%, 3/15/2064
|
720,000
|
707,818
|
Amgen, Inc.
|
||
5.25%, 3/2/2030
|
175,000
|
175,457
|
3.15%, 2/21/2040
|
477,000
|
356,904
|
5.65%, 3/2/2053
|
1,501,000
|
1,481,399
|
Biogen, Inc. 2.25%, 5/1/2030
|
3,960,000
|
3,333,991
|
CSL Finance plc (Australia) 5.11%, 4/3/2034 (a)
|
1,370,000
|
1,342,600
|
Emergent BioSolutions, Inc. 3.88%, 8/15/2028 (a)
|
28,000
|
16,723
|
Gilead Sciences, Inc.
|
||
1.65%, 10/1/2030
|
518,000
|
422,464
|
5.25%, 10/15/2033
|
580,000
|
580,463
|
4.60%, 9/1/2035
|
1,000,000
|
938,437
|
2.60%, 10/1/2040
|
525,000
|
359,926
|
4.15%, 3/1/2047
|
330,000
|
267,117
|
5.55%, 10/15/2053
|
220,000
|
218,317
|
Grifols SA (Spain) 4.75%, 10/15/2028 (a)
|
200,000
|
174,006
|
Regeneron Pharmaceuticals, Inc. 1.75%, 9/15/2030
|
200,000
|
162,983
|
|
|
16,284,435
|
Broadline Retail — 0.1%
|
||
Amazon.com, Inc.
|
||
3.88%, 8/22/2037
|
600,000
|
526,648
|
3.95%, 4/13/2052
|
155,000
|
124,271
|
Go Daddy Operating Co. LLC
|
||
5.25%, 12/1/2027 (a)
|
510,000
|
496,245
|
3.50%, 3/1/2029 (a)
|
175,000
|
156,348
|
Macy's Retail Holdings LLC 5.88%, 4/1/2029 (a)
|
435,000
|
418,864
|
NMG Holding Co., Inc. 7.13%, 4/1/2026 (a)
|
495,000
|
492,205
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Broadline Retail — continued
|
||
Nordstrom, Inc. 4.38%, 4/1/2030
|
335,000
|
304,596
|
Shutterfly Finance LLC 8.50% (Blend (Cash 4.25% + PIK 4.25%)), 10/1/2027 (a) (c)
|
11,937
|
9,559
|
|
|
2,528,736
|
Building Products — 0.3%
|
||
Builders FirstSource, Inc.
|
||
4.25%, 2/1/2032 (a)
|
2,180,000
|
1,903,799
|
6.38%, 3/1/2034 (a)
|
250,000
|
245,081
|
EMRLD Borrower LP 6.63%, 12/15/2030 (a)
|
1,340,000
|
1,342,335
|
Griffon Corp. 5.75%, 3/1/2028
|
925,000
|
894,150
|
JELD-WEN, Inc. 4.88%, 12/15/2027 (a)
|
725,000
|
679,316
|
Masco Corp. 1.50%, 2/15/2028
|
125,000
|
108,976
|
Miter Brands Acquisition Holdco, Inc. 6.75%, 4/1/2032 (a)
|
685,000
|
680,453
|
Smyrna Ready Mix Concrete LLC 8.88%, 11/15/2031 (a)
|
995,000
|
1,047,659
|
Standard Industries, Inc.
|
||
5.00%, 2/15/2027 (a)
|
20,000
|
19,394
|
4.75%, 1/15/2028 (a)
|
550,000
|
523,955
|
4.38%, 7/15/2030 (a)
|
1,625,000
|
1,450,120
|
Summit Materials LLC
|
||
5.25%, 1/15/2029 (a)
|
560,000
|
539,332
|
7.25%, 1/15/2031 (a)
|
550,000
|
567,106
|
|
|
10,001,676
|
Capital Markets — 2.0%
|
||
Bank of New York Mellon Corp. (The)
|
||
(SOFR + 1.60%), 6.32%, 10/25/2029 (d)
|
400,000
|
416,936
|
(SOFR + 1.42%), 4.29%, 6/13/2033 (d)
|
180,000
|
168,360
|
(SOFR + 1.85%), 6.47%, 10/25/2034 (d)
|
1,760,000
|
1,895,530
|
Credit Suisse USA LLC (Switzerland) 7.13%, 7/15/2032
|
53,000
|
58,384
|
Deutsche Bank AG (Germany)
|
||
(SOFR + 2.52%), 7.15%, 7/13/2027 (d)
|
315,000
|
322,887
|
(SOFR + 1.32%), 2.55%, 1/7/2028 (d)
|
1,300,000
|
1,198,834
|
(SOFR + 1.59%), 5.71%, 2/8/2028 (d)
|
365,000
|
364,280
|
5.41%, 5/10/2029
|
325,000
|
324,420
|
(SOFR + 2.51%), 6.82%, 11/20/2029 (d)
|
825,000
|
856,389
|
Goldman Sachs Group, Inc. (The)
|
||
(SOFR + 1.08%), 5.80%, 8/10/2026 (d)
|
800,000
|
800,542
|
3.50%, 11/16/2026
|
726,000
|
694,695
|
(SOFR + 0.80%), 1.43%, 3/9/2027 (d)
|
1,835,000
|
1,706,754
|
(SOFR + 1.51%), 4.39%, 6/15/2027 (d)
|
117,000
|
114,491
|
(SOFR + 1.11%), 2.64%, 2/24/2028 (d)
|
150,000
|
139,407
|
(3-MONTH CME TERM SOFR + 1.77%), 3.69%, 6/5/2028 (d)
|
1,620,000
|
1,542,491
|
(3-MONTH CME TERM SOFR + 1.42%), 3.81%, 4/23/2029 (d)
|
2,205,000
|
2,082,363
|
(3-MONTH CME TERM SOFR + 1.56%), 4.22%, 5/1/2029 (d)
|
1,500,000
|
1,437,934
|
Series X, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.81%),
7.50%, 5/10/2029 (d) (f) (g)
|
4,235,000
|
4,351,103
|
(SOFR + 1.77%), 6.48%, 10/24/2029 (d)
|
4,915,000
|
5,114,666
|
(SOFR + 1.27%), 5.73%, 4/25/2030 (d)
|
1,495,000
|
1,514,740
|
(SOFR + 1.28%), 2.62%, 4/22/2032 (d)
|
3,535,000
|
2,950,421
|
(SOFR + 1.41%), 3.10%, 2/24/2033 (d)
|
2,790,000
|
2,367,894
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Capital Markets — continued
|
||
(SOFR + 1.55%), 5.85%, 4/25/2035 (d)
|
660,000
|
674,040
|
(SOFR + 1.51%), 3.21%, 4/22/2042 (d)
|
160,000
|
118,595
|
(SOFR + 1.63%), 3.44%, 2/24/2043 (d)
|
18,000
|
13,649
|
Macquarie Group Ltd. (Australia) (3-MONTH SOFR + 1.75%), 5.03%, 1/15/2030 (a) (d)
|
200,000
|
196,199
|
Morgan Stanley
|
||
3.88%, 1/27/2026
|
330,000
|
321,887
|
(SOFR + 0.88%), 1.59%, 5/4/2027 (d)
|
3,210,000
|
2,977,479
|
(SOFR + 1.00%), 2.48%, 1/21/2028 (d)
|
914,000
|
849,167
|
3.59%, 7/22/2028 (i)
|
330,000
|
313,065
|
(SOFR + 1.73%), 5.12%, 2/1/2029 (d)
|
260,000
|
258,284
|
(SOFR + 1.63%), 5.45%, 7/20/2029 (d)
|
2,440,000
|
2,448,539
|
(SOFR + 1.83%), 6.41%, 11/1/2029 (d)
|
300,000
|
312,219
|
(SOFR + 1.45%), 5.17%, 1/16/2030 (d)
|
2,070,000
|
2,055,192
|
(3-MONTH CME TERM SOFR + 1.89%), 4.43%, 1/23/2030 (d)
|
1,573,000
|
1,515,174
|
(SOFR + 1.03%), 1.79%, 2/13/2032 (d)
|
350,000
|
278,685
|
(SOFR + 1.29%), 2.94%, 1/21/2033 (d)
|
1,265,000
|
1,065,391
|
(SOFR + 1.88%), 5.42%, 7/21/2034 (d)
|
2,130,000
|
2,107,933
|
(SOFR + 1.58%), 5.83%, 4/19/2035 (d)
|
720,000
|
734,382
|
(SOFR + 1.36%), 2.48%, 9/16/2036 (d)
|
420,000
|
331,150
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.43%), 5.95%, 1/19/2038 (d)
|
380,000
|
377,263
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 1.80%), 5.94%, 2/7/2039 (d)
|
2,000,000
|
1,980,000
|
(SOFR + 1.49%), 3.22%, 4/22/2042 (d)
|
285,000
|
212,594
|
Nuveen LLC 4.00%, 11/1/2028 (a)
|
160,000
|
153,082
|
S&P Global, Inc.
|
||
2.70%, 3/1/2029
|
456,000
|
410,799
|
1.25%, 8/15/2030
|
500,000
|
400,888
|
3.25%, 12/1/2049
|
563,000
|
396,295
|
State Street Corp. Series I, (US Treasury Yield Curve Rate T Note Constant Maturity
5 Year + 2.61%), 6.70%,
3/15/2029 (d) (f) (g)
|
1,628,000
|
1,644,946
|
UBS Group AG (Switzerland)
|
||
(SOFRINDX + 0.98%), 1.31%, 2/2/2027 (a) (d)
|
250,000
|
231,863
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.85%), 1.49%, 8/10/2027 (a) (d)
|
585,000
|
534,621
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.75%), 4.75%, 5/12/2028 (a) (d)
|
200,000
|
195,591
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.75%), 9.25%, 11/13/2028 (a) (d) (e) (f) (g)
|
260,000
|
277,596
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.52%), 5.43%, 2/8/2030 (a) (d)
|
483,000
|
480,868
|
(3-MONTH SOFR + 1.47%), 3.13%, 8/13/2030 (a) (d)
|
2,350,000
|
2,096,140
|
(USD SOFR ICE Swap Rate 1 Year + 1.34%), 5.62%, 9/13/2030 (a) (d)
|
1,190,000
|
1,192,118
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.40%), 4.99%, 8/5/2033 (a) (d)
|
700,000
|
669,091
|
(SOFR + 3.92%), 6.54%, 8/12/2033 (a) (d)
|
493,000
|
519,233
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.76%), 9.25%, 11/13/2033 (a) (d) (e) (f) (g)
|
265,000
|
294,919
|
(SOFR + 5.02%), 9.02%, 11/15/2033 (a) (d)
|
550,000
|
666,460
|
(US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.77%), 5.70%, 2/8/2035 (a) (d)
|
1,380,000
|
1,378,091
|
4.88%, 5/15/2045
|
250,000
|
227,976
|
|
|
61,334,985
|
Chemicals — 0.3%
|
||
Avient Corp. 7.13%, 8/1/2030 (a)
|
650,000
|
660,850
|
Axalta Coating Systems LLC 4.75%, 6/15/2027 (a)
|
300,000
|
289,555
|
Celanese US Holdings LLC 6.38%, 7/15/2032
|
300,000
|
308,322
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Chemicals — continued
|
||
CF Industries, Inc. 5.15%, 3/15/2034
|
610,000
|
583,477
|
Chemours Co. (The)
|
||
5.75%, 11/15/2028 (a)
|
1,155,000
|
1,057,089
|
4.63%, 11/15/2029 (a)
|
195,000
|
166,296
|
CVR Partners LP 6.13%, 6/15/2028 (a)
|
335,000
|
320,283
|
Ecolab, Inc. 2.13%, 2/1/2032
|
75,000
|
61,387
|
EIDP, Inc. 4.80%, 5/15/2033
|
320,000
|
309,523
|
Element Solutions, Inc. 3.88%, 9/1/2028 (a)
|
625,000
|
568,727
|
INEOS Finance plc (Luxembourg) 6.75%, 5/15/2028 (a)
|
400,000
|
396,508
|
LYB International Finance III LLC 3.38%, 10/1/2040
|
390,000
|
287,137
|
NOVA Chemicals Corp. (Canada)
|
||
5.25%, 6/1/2027 (a)
|
310,000
|
296,964
|
8.50%, 11/15/2028 (a)
|
545,000
|
578,009
|
9.00%, 2/15/2030 (a)
|
620,000
|
655,850
|
Nutrien Ltd. (Canada)
|
||
4.90%, 3/27/2028
|
186,000
|
183,839
|
2.95%, 5/13/2030
|
80,000
|
70,558
|
3.95%, 5/13/2050
|
190,000
|
142,857
|
OCP SA (Morocco) 7.50%, 5/2/2054 (a)
|
658,000
|
655,812
|
Scotts Miracle-Gro Co. (The) 4.50%, 10/15/2029
|
1,375,000
|
1,237,093
|
Sherwin-Williams Co. (The) 4.50%, 6/1/2047
|
15,000
|
12,708
|
Trinseo Materials Operating SCA 5.38%, 9/1/2025 (a)
|
33,000
|
26,934
|
WR Grace Holdings LLC
|
||
4.88%, 6/15/2027 (a)
|
350,000
|
336,111
|
7.38%, 3/1/2031 (a)
|
320,000
|
324,807
|
|
|
9,530,696
|
Commercial Services & Supplies — 0.3%
|
||
ACCO Brands Corp. 4.25%, 3/15/2029 (a)
|
1,032,000
|
915,450
|
ADT Security Corp. (The)
|
||
4.13%, 8/1/2029 (a)
|
540,000
|
490,468
|
4.88%, 7/15/2032 (a)
|
585,000
|
527,932
|
Allied Universal Holdco LLC 4.63%, 6/1/2028 (a)
|
450,000
|
406,251
|
Aramark Services, Inc. 5.00%, 2/1/2028 (a)
|
270,000
|
258,147
|
Element Fleet Management Corp. (Canada) 6.27%, 6/26/2026 (a)
|
350,000
|
353,142
|
Garda World Security Corp. (Canada) 4.63%, 2/15/2027 (a)
|
705,000
|
669,942
|
GFL Environmental, Inc.
|
||
3.75%, 8/1/2025 (a)
|
105,000
|
102,506
|
5.13%, 12/15/2026 (a)
|
55,000
|
53,957
|
4.00%, 8/1/2028 (a)
|
735,000
|
672,084
|
4.75%, 6/15/2029 (a)
|
730,000
|
679,471
|
6.75%, 1/15/2031 (a)
|
230,000
|
234,604
|
Interface, Inc. 5.50%, 12/1/2028 (a)
|
160,000
|
150,984
|
Madison IAQ LLC 4.13%, 6/30/2028 (a)
|
1,185,000
|
1,098,044
|
Prime Security Services Borrower LLC
|
||
3.38%, 8/31/2027 (a)
|
885,000
|
812,012
|
6.25%, 1/15/2028 (a)
|
690,000
|
677,398
|
Stericycle, Inc. 3.88%, 1/15/2029 (a)
|
335,000
|
304,168
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Commercial Services & Supplies — continued
|
||
Waste Management, Inc. 1.50%, 3/15/2031
|
170,000
|
135,642
|
Williams Scotsman, Inc. 7.38%, 10/1/2031 (a)
|
560,000
|
575,088
|
|
|
9,117,290
|
Communications Equipment — 0.0% ^
|
||
Ciena Corp. 4.00%, 1/31/2030 (a)
|
305,000
|
273,176
|
CommScope Technologies LLC 6.00%, 6/15/2025 (a)
|
105,000
|
86,310
|
CommScope, Inc. 6.00%, 3/1/2026 (a)
|
472,000
|
421,260
|
|
|
780,746
|
Construction & Engineering — 0.1%
|
||
Bioceanico Sovereign Certificate Ltd. (Paraguay) Zero Coupon, 6/5/2034 (a)
|
867,740
|
647,551
|
Dycom Industries, Inc. 4.50%, 4/15/2029 (a)
|
465,000
|
432,021
|
Global Infrastructure Solutions, Inc. 5.63%, 6/1/2029 (a)
|
1,043,000
|
966,616
|
MasTec, Inc. 4.50%, 8/15/2028 (a)
|
635,000
|
599,304
|
Weekley Homes LLC 4.88%, 9/15/2028 (a)
|
750,000
|
686,889
|
|
|
3,332,381
|
Construction Materials — 0.0% ^
|
||
Knife River Corp. 7.75%, 5/1/2031 (a)
|
795,000
|
827,431
|
Martin Marietta Materials, Inc. 2.40%, 7/15/2031
|
300,000
|
247,838
|
|
|
1,075,269
|
Consumer Finance — 0.8%
|
||
AerCap Ireland Capital DAC (Ireland)
|
||
2.45%, 10/29/2026
|
1,260,000
|
1,172,400
|
5.75%, 6/6/2028
|
400,000
|
403,315
|
3.00%, 10/29/2028
|
1,350,000
|
1,219,734
|
Ally Financial, Inc.
|
||
5.75%, 11/20/2025
|
605,000
|
602,262
|
6.70%, 2/14/2033
|
270,000
|
270,248
|
American Express Co.
|
||
1.65%, 11/4/2026
|
480,000
|
440,386
|
2.55%, 3/4/2027
|
540,000
|
503,198
|
5.85%, 11/5/2027
|
270,000
|
276,305
|
(SOFRINDX + 1.28%), 5.28%, 7/27/2029 (d)
|
1,325,000
|
1,324,241
|
Avolon Holdings Funding Ltd. (Ireland)
|
||
5.50%, 1/15/2026 (a)
|
60,000
|
59,366
|
2.13%, 2/21/2026 (a)
|
215,000
|
201,246
|
4.25%, 4/15/2026 (a)
|
1,245,000
|
1,205,434
|
4.38%, 5/1/2026 (a)
|
478,000
|
464,248
|
2.53%, 11/18/2027 (a)
|
2,385,000
|
2,128,541
|
6.38%, 5/4/2028 (a)
|
575,000
|
583,034
|
5.75%, 3/1/2029 (a)
|
1,180,000
|
1,171,698
|
5.75%, 11/15/2029 (a)
|
5,075,000
|
5,031,406
|
Capital One Financial Corp. (SOFR + 1.27%), 2.62%, 11/2/2032 (d)
|
100,000
|
80,931
|
Ford Motor Credit Co. LLC
|
||
4.39%, 1/8/2026
|
890,000
|
869,382
|
4.13%, 8/17/2027
|
1,350,000
|
1,280,230
|
6.80%, 5/12/2028
|
1,090,000
|
1,121,028
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Consumer Finance — continued
|
||
7.20%, 6/10/2030
|
550,000
|
575,737
|
4.00%, 11/13/2030
|
250,000
|
221,601
|
General Motors Financial Co., Inc.
|
||
3.80%, 4/7/2025
|
35,000
|
34,429
|
5.40%, 5/8/2027
|
75,000
|
74,874
|
3.60%, 6/21/2030
|
1,060,000
|
947,134
|
5.75%, 2/8/2031
|
85,000
|
84,947
|
2.70%, 6/10/2031
|
690,000
|
567,914
|
5.95%, 4/4/2034
|
570,000
|
567,319
|
John Deere Capital Corp. 4.70%, 6/10/2030
|
400,000
|
394,159
|
OneMain Finance Corp.
|
||
7.13%, 3/15/2026
|
1,469,000
|
1,490,564
|
3.50%, 1/15/2027
|
354,000
|
327,413
|
6.63%, 1/15/2028
|
440,000
|
437,117
|
Volkswagen International Finance NV (Germany) (EUR Swap Annual 10 Year + 3.37%), 3.88%,
6/14/2027 (d) (f) (g)
(h)
|
500,000
|
518,757
|
|
|
26,650,598
|
Consumer Staples Distribution & Retail — 0.2%
|
||
7-Eleven, Inc.
|
||
0.95%, 2/10/2026 (a)
|
65,000
|
60,283
|
1.80%, 2/10/2031 (a)
|
2,325,000
|
1,855,244
|
2.50%, 2/10/2041 (a)
|
14,000
|
9,177
|
Albertsons Cos., Inc.
|
||
4.63%, 1/15/2027 (a)
|
1,350,000
|
1,301,164
|
5.88%, 2/15/2028 (a)
|
530,000
|
520,823
|
3.50%, 3/15/2029 (a)
|
965,000
|
860,691
|
4.88%, 2/15/2030 (a)
|
20,000
|
18,708
|
Alimentation Couche-Tard, Inc. (Canada)
|
||
3.44%, 5/13/2041 (a)
|
5,000
|
3,758
|
3.63%, 5/13/2051 (a)
|
10,000
|
7,136
|
5.62%, 2/12/2054 (a)
|
200,000
|
195,854
|
Performance Food Group, Inc. 5.50%, 10/15/2027 (a)
|
391,000
|
381,086
|
Rite Aid Corp. 8.00%, 11/15/2026 (a) (b)
|
125,000
|
62,500
|
Sysco Corp. 2.40%, 2/15/2030
|
250,000
|
214,834
|
Target Corp.
|
||
4.50%, 9/15/2032
|
200,000
|
191,838
|
4.80%, 1/15/2053
|
550,000
|
499,658
|
|
|
6,182,754
|
Containers & Packaging — 0.4%
|
||
Ardagh Packaging Finance plc 4.13%, 8/15/2026 (a)
|
1,275,000
|
1,084,068
|
Ball Corp.
|
||
6.00%, 6/15/2029
|
435,000
|
435,707
|
3.13%, 9/15/2031
|
480,000
|
402,926
|
Berry Global, Inc. 5.80%, 6/15/2031 (a)
|
2,980,000
|
2,965,089
|
Canpack SA (Poland) 3.88%, 11/15/2029 (a)
|
200,000
|
175,460
|
Crown Americas LLC
|
||
4.25%, 9/30/2026
|
13,000
|
12,494
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Containers & Packaging — continued
|
||
5.25%, 4/1/2030
|
350,000
|
336,412
|
Graphic Packaging International LLC
|
||
4.75%, 7/15/2027 (a)
|
108,000
|
104,611
|
3.50%, 3/15/2028 (a)
|
180,000
|
164,459
|
LABL, Inc. 6.75%, 7/15/2026 (a)
|
525,000
|
518,801
|
Mauser Packaging Solutions Holding Co. 7.88%, 4/15/2027 (a)
|
1,310,000
|
1,334,707
|
Owens-Brockway Glass Container, Inc. 6.63%, 5/13/2027 (a)
|
1,005,000
|
997,872
|
Packaging Corp. of America
|
||
4.05%, 12/15/2049
|
285,000
|
222,052
|
3.05%, 10/1/2051
|
85,000
|
55,520
|
Pactiv Evergreen Group Issuer, Inc. 4.00%, 10/15/2027 (a)
|
1,455,000
|
1,357,941
|
Sealed Air Corp.
|
||
4.00%, 12/1/2027 (a)
|
570,000
|
533,809
|
6.13%, 2/1/2028 (a)
|
205,000
|
203,533
|
TriMas Corp. 4.13%, 4/15/2029 (a)
|
637,000
|
576,545
|
Trivium Packaging Finance BV (Netherlands) 5.50%, 8/15/2026 (a) (j)
|
450,000
|
443,645
|
WRKCo, Inc. 4.65%, 3/15/2026
|
30,000
|
29,534
|
|
|
11,955,185
|
Distributors — 0.1%
|
||
American Builders & Contractors Supply Co., Inc.
|
||
4.00%, 1/15/2028 (a)
|
800,000
|
745,097
|
3.88%, 11/15/2029 (a)
|
155,000
|
136,895
|
Ritchie Bros Holdings, Inc. (Canada)
|
||
6.75%, 3/15/2028 (a)
|
235,000
|
237,348
|
7.75%, 3/15/2031 (a)
|
938,000
|
979,082
|
|
|
2,098,422
|
Diversified Consumer Services — 0.1%
|
||
Service Corp. International 5.13%, 6/1/2029
|
770,000
|
740,034
|
Wand NewCo 3, Inc. 7.63%, 1/30/2032 (a)
|
1,367,000
|
1,400,764
|
|
|
2,140,798
|
Diversified REITs — 0.1%
|
||
Goodman US Finance Three LLC (Australia) 3.70%, 3/15/2028 (a)
|
590,000
|
546,377
|
Simon Property Group LP
|
||
2.45%, 9/13/2029
|
500,000
|
435,856
|
3.25%, 9/13/2049
|
31,000
|
20,845
|
VICI Properties LP
|
||
3.50%, 2/15/2025 (a)
|
90,000
|
88,445
|
4.50%, 9/1/2026 (a)
|
95,000
|
92,066
|
4.63%, 12/1/2029 (a)
|
20,000
|
18,719
|
WP Carey, Inc.
|
||
2.40%, 2/1/2031
|
700,000
|
581,970
|
2.25%, 4/1/2033
|
145,000
|
110,377
|
|
|
1,894,655
|
Diversified Telecommunication Services — 0.6%
|
||
Altice France SA (France) 5.13%, 7/15/2029 (a)
|
200,000
|
134,131
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Diversified Telecommunication Services — continued
|
||
AT&T, Inc.
|
||
1.65%, 2/1/2028
|
450,000
|
397,672
|
2.55%, 12/1/2033
|
1,870,000
|
1,475,163
|
3.50%, 6/1/2041
|
260,000
|
198,420
|
3.65%, 6/1/2051
|
65,000
|
45,910
|
3.50%, 9/15/2053
|
1,440,000
|
972,557
|
3.55%, 9/15/2055
|
1,205,000
|
809,117
|
CCO Holdings LLC
|
||
5.38%, 6/1/2029 (a)
|
1,455,000
|
1,303,342
|
4.75%, 3/1/2030 (a)
|
4,894,000
|
4,168,975
|
4.50%, 8/15/2030 (a)
|
2,079,000
|
1,727,453
|
4.25%, 2/1/2031 (a)
|
2,580,000
|
2,079,572
|
4.75%, 2/1/2032 (a)
|
1,025,000
|
825,362
|
4.50%, 6/1/2033 (a)
|
135,000
|
104,178
|
Embarq Corp. 8.00%, 6/1/2036
|
13,000
|
4,084
|
Frontier Communications Holdings LLC 5.88%, 10/15/2027 (a)
|
235,000
|
228,833
|
Intelsat Jackson Holdings SA (Luxembourg) 6.50%, 3/15/2030 (a)
|
1,619,000
|
1,522,874
|
Lumen Technologies, Inc.
|
||
4.13%, 4/15/2029 (a)
|
425,000
|
273,302
|
4.13%, 4/15/2030 (a)
|
497,625
|
318,232
|
NBN Co. Ltd. (Australia) 5.75%, 10/6/2028 (a)
|
500,000
|
511,999
|
Sprint Capital Corp. 6.88%, 11/15/2028
|
258,000
|
272,455
|
Telecom Italia Capital SA (Italy) 6.00%, 9/30/2034
|
134,000
|
113,130
|
Verizon Communications, Inc.
|
||
4.33%, 9/21/2028
|
75,000
|
72,675
|
4.02%, 12/3/2029
|
684,000
|
645,465
|
3.40%, 3/22/2041
|
1,215,000
|
929,511
|
2.88%, 11/20/2050
|
75,000
|
47,253
|
2.99%, 10/30/2056
|
535,000
|
326,272
|
3.70%, 3/22/2061
|
30,000
|
21,164
|
|
|
19,529,101
|
Electric Utilities — 2.2%
|
||
Alabama Power Co.
|
||
3.05%, 3/15/2032
|
200,000
|
172,321
|
5.85%, 11/15/2033
|
275,000
|
285,225
|
Baltimore Gas and Electric Co.
|
||
3.20%, 9/15/2049
|
295,000
|
196,159
|
2.90%, 6/15/2050
|
550,000
|
342,952
|
5.40%, 6/1/2053
|
305,000
|
292,209
|
Comision Federal de Electricidad (Mexico)
|
||
4.69%, 5/15/2029 (h)
|
500,000
|
467,137
|
6.26%, 2/15/2052 (h)
|
600,000
|
516,000
|
Commonwealth Edison Co. 5.30%, 2/1/2053
|
450,000
|
424,421
|
Connecticut Light and Power Co. (The) 4.00%, 4/1/2048
|
46,000
|
36,480
|
Consumers 2023 Securitization Funding LLC Series A2, 5.21%, 9/1/2030
|
771,000
|
770,620
|
DTE Electric Co.
|
||
5.20%, 3/1/2034
|
500,000
|
494,470
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Electric Utilities — continued
|
||
5.40%, 4/1/2053
|
80,000
|
78,132
|
DTE Electric Securitization Funding II LLC Series A-2, 6.09%, 9/1/2037
|
400,000
|
423,016
|
Duke Energy Carolinas LLC 3.20%, 8/15/2049
|
634,000
|
425,062
|
Duke Energy Florida LLC
|
||
5.88%, 11/15/2033
|
230,000
|
238,994
|
6.20%, 11/15/2053
|
240,000
|
255,625
|
Duke Energy Indiana LLC
|
||
Series YYY, 3.25%, 10/1/2049
|
125,000
|
84,061
|
2.75%, 4/1/2050
|
395,000
|
238,717
|
5.40%, 4/1/2053
|
770,000
|
729,272
|
Duke Energy Ohio, Inc. 5.25%, 4/1/2033
|
624,000
|
617,901
|
Duquesne Light Holdings, Inc. 2.53%, 10/1/2030 (a)
|
148,000
|
124,119
|
Edison International
|
||
5.25%, 11/15/2028
|
100,000
|
98,979
|
6.95%, 11/15/2029
|
245,000
|
260,575
|
Electricite de France SA (France)
|
||
5.95%, 4/22/2034 (a)
|
510,000
|
513,795
|
6.90%, 5/23/2053 (a)
|
640,000
|
685,448
|
Emera US Finance LP (Canada)
|
||
2.64%, 6/15/2031
|
660,000
|
539,018
|
4.75%, 6/15/2046
|
50,000
|
40,474
|
Enel Finance International NV (Italy) 2.25%, 7/12/2031 (a) (j)
|
200,000
|
162,949
|
Enel SpA (Italy) Series 6.5Y, (EUR Swap Annual 5 Year + 1.72%), 1.38%, 6/8/2027 (d) (f) (g) (h)
|
3,000,000
|
2,910,117
|
Entergy Arkansas LLC
|
||
4.00%, 6/1/2028
|
13,000
|
12,465
|
2.65%, 6/15/2051
|
274,000
|
158,902
|
5.75%, 6/1/2054
|
150,000
|
148,846
|
Entergy Corp. (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.67%),
7.13%, 12/1/2054 (d)
|
1,120,000
|
1,115,257
|
Entergy Louisiana LLC
|
||
2.40%, 10/1/2026
|
69,000
|
64,663
|
1.60%, 12/15/2030
|
500,000
|
398,448
|
2.90%, 3/15/2051
|
823,000
|
499,081
|
5.70%, 3/15/2054
|
1,230,000
|
1,211,480
|
Entergy Mississippi LLC
|
||
5.00%, 9/1/2033
|
535,000
|
516,673
|
3.50%, 6/1/2051
|
20,000
|
13,899
|
5.85%, 6/1/2054
|
715,000
|
712,001
|
Entergy Texas Restoration Funding LLC Series A-2, 3.70%, 12/15/2035
|
215,000
|
190,934
|
Entergy Texas, Inc. 1.75%, 3/15/2031
|
535,000
|
431,096
|
Evergy Kansas Central, Inc. 4.13%, 3/1/2042
|
240,000
|
197,094
|
Eversource Energy
|
||
4.60%, 7/1/2027
|
31,000
|
30,280
|
5.45%, 3/1/2028
|
100,000
|
100,039
|
3.38%, 3/1/2032
|
365,000
|
311,935
|
Fells Point Funding Trust 3.05%, 1/31/2027 (a)
|
1,570,000
|
1,472,353
|
FirstEnergy Transmission LLC
|
||
2.87%, 9/15/2028 (a)
|
965,000
|
874,500
|
4.55%, 4/1/2049 (a)
|
1,600,000
|
1,308,107
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Electric Utilities — continued
|
||
Florida Power & Light Co.
|
||
3.70%, 12/1/2047
|
60,000
|
45,489
|
5.30%, 4/1/2053
|
390,000
|
377,005
|
Georgia Power Co. 5.25%, 3/15/2034
|
500,000
|
496,542
|
Interchile SA (Chile) 4.50%, 6/30/2056 (a)
|
200,000
|
165,625
|
ITC Holdings Corp.
|
||
4.95%, 9/22/2027 (a)
|
432,000
|
426,468
|
2.95%, 5/14/2030 (a)
|
405,000
|
354,231
|
5.40%, 6/1/2033 (a)
|
300,000
|
295,410
|
5.65%, 5/9/2034 (a)
|
1,365,000
|
1,361,844
|
Kentucky Utilities Co. 5.13%, 11/1/2040
|
404,000
|
380,957
|
MidAmerican Energy Co.
|
||
3.65%, 4/15/2029
|
46,000
|
43,233
|
5.85%, 9/15/2054
|
110,000
|
112,697
|
Mid-Atlantic Interstate Transmission LLC 4.10%, 5/15/2028 (a)
|
430,000
|
411,424
|
Mississippi Power Co. Series 12-A, 4.25%, 3/15/2042
|
240,000
|
198,048
|
Monongahela Power Co. 5.85%, 2/15/2034 (a)
|
210,000
|
212,745
|
Nevada Power Co. 6.00%, 3/15/2054
|
600,000
|
609,732
|
NextEra Energy Capital Holdings, Inc.
|
||
5.75%, 9/1/2025
|
430,000
|
430,738
|
5.00%, 7/15/2032
|
60,000
|
58,450
|
5.25%, 2/28/2053
|
80,000
|
74,400
|
Northern States Power Co. 2.60%, 6/1/2051
|
590,000
|
351,721
|
NRG Energy, Inc.
|
||
6.63%, 1/15/2027
|
21,000
|
20,978
|
2.45%, 12/2/2027 (a)
|
60,000
|
53,887
|
5.75%, 1/15/2028
|
560,000
|
549,293
|
3.38%, 2/15/2029 (a)
|
210,000
|
185,903
|
5.25%, 6/15/2029 (a)
|
2,120,000
|
2,022,142
|
OGE Energy Corp. 5.45%, 5/15/2029
|
330,000
|
330,808
|
Ohio Power Co. Series R, 2.90%, 10/1/2051
|
225,000
|
138,585
|
Oklahoma Gas and Electric Co. 5.40%, 1/15/2033
|
100,000
|
100,105
|
Oncor Electric Delivery Co. LLC
|
||
3.10%, 9/15/2049
|
290,000
|
193,225
|
4.95%, 9/15/2052
|
400,000
|
363,307
|
Pacific Gas and Electric Co.
|
||
3.45%, 7/1/2025
|
17,000
|
16,600
|
2.95%, 3/1/2026
|
110,000
|
104,918
|
4.65%, 8/1/2028
|
2,200,000
|
2,116,381
|
6.10%, 1/15/2029
|
605,000
|
617,475
|
4.55%, 7/1/2030
|
1,624,000
|
1,533,360
|
6.40%, 6/15/2033
|
860,000
|
892,706
|
6.95%, 3/15/2034
|
1,125,000
|
1,212,996
|
5.80%, 5/15/2034
|
3,025,000
|
3,017,718
|
4.20%, 6/1/2041
|
30,000
|
23,634
|
4.25%, 3/15/2046
|
418,000
|
316,600
|
6.75%, 1/15/2053
|
1,770,000
|
1,870,086
|
Palomino Funding Trust I 7.23%, 5/17/2028 (a)
|
2,100,000
|
2,189,650
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Electric Utilities — continued
|
||
PG&E Corp.
|
||
5.00%, 7/1/2028
|
1,001,000
|
959,576
|
5.25%, 7/1/2030
|
300,000
|
285,770
|
PG&E Recovery Funding LLC Series A-3, 5.54%, 7/15/2047
|
185,000
|
183,898
|
PG&E Wildfire Recovery Funding LLC
|
||
Series A-2, 4.26%, 6/1/2036
|
25,000
|
23,180
|
Series A-4, 5.21%, 12/1/2047
|
40,000
|
38,122
|
Series A-5, 5.10%, 6/1/2052
|
70,000
|
66,640
|
PPL Electric Utilities Corp.
|
||
6.25%, 5/15/2039
|
382,000
|
408,645
|
5.25%, 5/15/2053
|
70,000
|
66,754
|
Public Service Co. of Oklahoma
|
||
5.25%, 1/15/2033
|
155,000
|
151,068
|
Series G, 6.63%, 11/15/2037
|
725,000
|
767,305
|
Series K, 3.15%, 8/15/2051
|
150,000
|
96,116
|
Public Service Electric and Gas Co. 4.65%, 3/15/2033
|
520,000
|
498,249
|
RWE Finance US LLC (Germany) 5.88%, 4/16/2034 (a)
|
660,000
|
660,643
|
SCE Recovery Funding LLC Series A-1, 4.70%, 6/15/2040
|
48,188
|
46,356
|
Sigeco Securitization I LLC
|
||
Series A1, 5.03%, 11/15/2036
|
50,381
|
49,496
|
Series A2, 5.17%, 5/15/2041
|
49,000
|
47,614
|
Southern California Edison Co.
|
||
5.30%, 3/1/2028
|
719,000
|
720,670
|
5.65%, 10/1/2028
|
600,000
|
609,644
|
Series G, 2.50%, 6/1/2031
|
775,000
|
645,815
|
5.45%, 6/1/2031
|
530,000
|
531,766
|
5.95%, 11/1/2032
|
2,000,000
|
2,065,560
|
Series C, 4.13%, 3/1/2048
|
238,000
|
185,990
|
Series 20A, 2.95%, 2/1/2051
|
430,000
|
268,202
|
5.88%, 12/1/2053
|
1,656,000
|
1,653,396
|
5.75%, 4/15/2054
|
390,000
|
384,117
|
Southern Co. (The)
|
||
5.50%, 3/15/2029
|
390,000
|
394,259
|
5.70%, 3/15/2034
|
100,000
|
101,452
|
Southwestern Electric Power Co.
|
||
Series N, 1.65%, 3/15/2026
|
45,000
|
42,108
|
5.30%, 4/1/2033
|
130,000
|
125,657
|
3.25%, 11/1/2051
|
210,000
|
133,837
|
Southwestern Public Service Co. 4.50%, 8/15/2041
|
74,000
|
61,797
|
Tierra Mojada Luxembourg II SARL (Mexico) 5.75%, 12/1/2040 (a)
|
271,401
|
248,247
|
Tucson Electric Power Co.
|
||
1.50%, 8/1/2030
|
448,000
|
360,535
|
4.85%, 12/1/2048
|
232,000
|
201,226
|
5.50%, 4/15/2053
|
115,000
|
110,883
|
Union Electric Co.
|
||
5.20%, 4/1/2034
|
400,000
|
394,283
|
5.45%, 3/15/2053
|
555,000
|
534,051
|
5.25%, 1/15/2054
|
500,000
|
465,580
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Electric Utilities — continued
|
||
Virginia Electric and Power Co. 5.70%, 8/15/2053
|
730,000
|
728,884
|
Vistra Operations Co. LLC
|
||
5.50%, 9/1/2026 (a)
|
65,000
|
63,931
|
5.63%, 2/15/2027 (a)
|
1,715,000
|
1,687,492
|
5.00%, 7/31/2027 (a)
|
420,000
|
406,198
|
4.38%, 5/1/2029 (a)
|
275,000
|
254,550
|
7.75%, 10/15/2031 (a)
|
1,480,000
|
1,537,826
|
6.00%, 4/15/2034 (a)
|
4,105,000
|
4,110,877
|
Wisconsin Public Service Corp. 4.75%, 11/1/2044
|
69,000
|
61,841
|
|
|
69,909,523
|
Electrical Equipment — 0.1%
|
||
Eaton Corp. 4.15%, 3/15/2033
|
400,000
|
373,072
|
EnerSys 4.38%, 12/15/2027 (a)
|
630,000
|
594,002
|
Regal Rexnord Corp.
|
||
6.30%, 2/15/2030
|
57,000
|
58,352
|
6.40%, 4/15/2033
|
79,000
|
81,316
|
Sensata Technologies BV
|
||
5.00%, 10/1/2025 (a)
|
40,000
|
40,291
|
4.00%, 4/15/2029 (a)
|
700,000
|
635,890
|
Vertiv Group Corp. 4.13%, 11/15/2028 (a)
|
365,000
|
338,328
|
|
|
2,121,251
|
Electronic Equipment, Instruments & Components — 0.0% ^
|
||
Coherent Corp. 5.00%, 12/15/2029 (a)
|
1,165,000
|
1,086,342
|
Corning, Inc. 3.90%, 11/15/2049
|
75,000
|
56,640
|
Sensata Technologies, Inc. 4.38%, 2/15/2030 (a)
|
255,000
|
232,606
|
|
|
1,375,588
|
Energy Equipment & Services — 0.2%
|
||
Archrock Partners LP 6.88%, 4/1/2027 (a)
|
480,000
|
481,890
|
Baker Hughes Holdings LLC
|
||
2.06%, 12/15/2026
|
400,000
|
369,649
|
4.08%, 12/15/2047
|
350,000
|
279,892
|
Diamond Foreign Asset Co. 8.50%, 10/1/2030 (a)
|
740,000
|
776,929
|
Guara Norte SARL (Brazil) 5.20%, 6/15/2034 (a)
|
514,074
|
467,358
|
Nabors Industries, Inc. 7.38%, 5/15/2027 (a)
|
560,000
|
558,746
|
Noble Finance II LLC 8.00%, 4/15/2030 (a)
|
320,000
|
330,096
|
Precision Drilling Corp. (Canada) 7.13%, 1/15/2026 (a)
|
577,000
|
576,776
|
Schlumberger Holdings Corp. 3.90%, 5/17/2028 (a)
|
214,000
|
204,058
|
Transocean, Inc. 8.75%, 2/15/2030 (a)
|
396,000
|
413,119
|
USA Compression Partners LP 6.88%, 9/1/2027
|
905,000
|
905,050
|
Valaris Ltd. 8.38%, 4/30/2030 (a)
|
575,000
|
594,320
|
|
|
5,957,883
|
Entertainment — 0.4%
|
||
Cinemark USA, Inc.
|
||
5.88%, 3/15/2026 (a)
|
295,000
|
290,600
|
5.25%, 7/15/2028 (a)
|
390,000
|
364,118
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Entertainment — continued
|
||
Live Nation Entertainment, Inc.
|
||
5.63%, 3/15/2026 (a)
|
2,000
|
1,971
|
6.50%, 5/15/2027 (a)
|
1,395,000
|
1,402,272
|
4.75%, 10/15/2027 (a)
|
365,000
|
345,811
|
Take-Two Interactive Software, Inc. 3.70%, 4/14/2027
|
115,000
|
110,251
|
Walt Disney Co. (The) 6.65%, 11/15/2037
|
170,000
|
190,118
|
Warnermedia Holdings, Inc.
|
||
3.76%, 3/15/2027
|
3,150,000
|
2,987,180
|
4.28%, 3/15/2032
|
3,790,000
|
3,317,037
|
5.05%, 3/15/2042
|
2,965,000
|
2,450,376
|
5.14%, 3/15/2052
|
610,000
|
481,539
|
WMG Acquisition Corp. 3.88%, 7/15/2030 (a)
|
100,000
|
88,390
|
|
|
12,029,663
|
Financial Services — 0.4%
|
||
Block, Inc.
|
||
3.50%, 6/1/2031
|
690,000
|
591,022
|
6.50%, 5/15/2032 (a)
|
6,004,000
|
6,059,789
|
Boost Newco Borrower LLC 7.50%, 1/15/2031 (a)
|
1,155,000
|
1,197,113
|
Fiserv, Inc. 3.20%, 7/1/2026
|
170,000
|
162,779
|
Global Payments, Inc. 3.20%, 8/15/2029
|
160,000
|
142,751
|
Nationstar Mortgage Holdings, Inc. 6.00%, 1/15/2027 (a)
|
1,080,000
|
1,065,227
|
Nationwide Building Society (United Kingdom) (3-MONTH SOFR + 1.45%), 4.30%, 3/8/2029 (a) (d)
|
350,000
|
333,781
|
NCR Atleos Corp. 9.50%, 4/1/2029 (a)
|
417,000
|
449,884
|
PayPal Holdings, Inc. 5.05%, 6/1/2052
|
100,000
|
91,858
|
Rocket Mortgage LLC
|
||
2.88%, 10/15/2026 (a)
|
1,095,000
|
1,018,672
|
3.63%, 3/1/2029 (a)
|
410,000
|
366,670
|
Shell International Finance BV
|
||
2.88%, 11/26/2041
|
620,000
|
445,548
|
3.63%, 8/21/2042
|
200,000
|
158,972
|
3.75%, 9/12/2046
|
141,000
|
109,573
|
3.00%, 11/26/2051
|
670,000
|
436,533
|
Siemens Financieringsmaatschappij NV (Germany) 3.30%, 9/15/2046 (a)
|
350,000
|
257,046
|
Visa, Inc. 2.70%, 4/15/2040
|
300,000
|
217,755
|
|
|
13,104,973
|
Food Products — 0.2%
|
||
Bimbo Bakeries USA, Inc. (Mexico) 6.05%, 1/15/2029 (a)
|
200,000
|
204,125
|
Bunge Ltd. Finance Corp. 2.75%, 5/14/2031
|
385,000
|
327,550
|
Campbell Soup Co. 4.15%, 3/15/2028
|
170,000
|
163,920
|
Cargill, Inc. 4.38%, 4/22/2052 (a)
|
150,000
|
126,074
|
Darling Ingredients, Inc.
|
||
5.25%, 4/15/2027 (a)
|
50,000
|
48,653
|
6.00%, 6/15/2030 (a)
|
850,000
|
830,878
|
General Mills, Inc. 4.15%, 2/15/2043
|
200,000
|
166,263
|
JBS USA Holding Lux SARL
|
||
3.75%, 12/1/2031
|
305,000
|
263,996
|
3.00%, 5/15/2032
|
910,000
|
739,072
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Food Products — continued
|
||
6.75%, 3/15/2034 (a)
|
250,000
|
262,662
|
Lamb Weston Holdings, Inc. 4.13%, 1/31/2030 (a)
|
795,000
|
714,990
|
Post Holdings, Inc.
|
||
5.50%, 12/15/2029 (a)
|
1,000,000
|
952,491
|
6.25%, 2/15/2032 (a)
|
158,000
|
157,063
|
Viterra Finance BV (Netherlands) 3.20%, 4/21/2031 (a)
|
805,000
|
690,237
|
|
|
5,647,974
|
Gas Utilities — 0.1%
|
||
AmeriGas Partners LP
|
||
5.50%, 5/20/2025
|
168,000
|
165,303
|
5.88%, 8/20/2026
|
10,000
|
9,669
|
5.75%, 5/20/2027
|
305,000
|
290,785
|
Atmos Energy Corp.
|
||
5.50%, 6/15/2041
|
52,000
|
51,576
|
5.75%, 10/15/2052
|
185,000
|
188,797
|
6.20%, 11/15/2053
|
630,000
|
680,674
|
Boston Gas Co. 3.00%, 8/1/2029 (a)
|
37,000
|
32,877
|
Piedmont Natural Gas Co., Inc. 5.05%, 5/15/2052
|
100,000
|
87,648
|
Southern California Gas Co. Series XX, 2.55%, 2/1/2030
|
393,000
|
340,979
|
Superior Plus LP (Canada) 4.50%, 3/15/2029 (a)
|
495,000
|
450,324
|
|
|
2,298,632
|
Ground Transportation — 0.3%
|
||
Avis Budget Car Rental LLC
|
||
5.75%, 7/15/2027 (a)
|
600,000
|
575,978
|
4.75%, 4/1/2028 (a)
|
95,000
|
86,360
|
5.38%, 3/1/2029 (a)
|
55,000
|
50,186
|
8.00%, 2/15/2031 (a)
|
525,000
|
517,956
|
Burlington Northern Santa Fe LLC
|
||
6.15%, 5/1/2037
|
250,000
|
268,735
|
3.55%, 2/15/2050
|
708,000
|
516,060
|
5.20%, 4/15/2054
|
850,000
|
808,349
|
Canadian Pacific Railway Co. (Canada)
|
||
2.88%, 11/15/2029
|
1,125,000
|
1,003,352
|
3.10%, 12/2/2051
|
250,000
|
165,686
|
CSX Corp. 4.50%, 11/15/2052
|
810,000
|
691,753
|
ERAC USA Finance LLC
|
||
5.00%, 2/15/2029 (a)
|
200,000
|
198,727
|
5.20%, 10/30/2034 (a)
|
100,000
|
98,360
|
First Student Bidco, Inc. 4.00%, 7/31/2029 (a)
|
300,000
|
270,382
|
Hertz Corp. (The) 4.63%, 12/1/2026 (a)
|
860,000
|
667,716
|
Norfolk Southern Corp. 3.95%, 10/1/2042
|
50,000
|
40,231
|
Penske Truck Leasing Co. LP 1.20%, 11/15/2025 (a)
|
376,000
|
352,693
|
RXO, Inc. 7.50%, 11/15/2027 (a)
|
510,000
|
521,475
|
SMBC Aviation Capital Finance DAC (Ireland) 5.30%, 4/3/2029 (a)
|
980,000
|
968,133
|
Triton Container International Ltd. (Bermuda) 1.15%, 6/7/2024 (a)
|
400,000
|
399,470
|
Uber Technologies, Inc. 7.50%, 9/15/2027 (a)
|
435,000
|
443,047
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Ground Transportation — continued
|
||
Union Pacific Corp.
|
||
2.40%, 2/5/2030
|
560,000
|
486,942
|
3.50%, 2/14/2053
|
120,000
|
86,123
|
XPO, Inc.
|
||
6.25%, 6/1/2028 (a)
|
330,000
|
329,004
|
7.13%, 6/1/2031 (a)
|
1,060,000
|
1,081,565
|
|
|
10,628,283
|
Health Care Equipment & Supplies — 0.2%
|
||
Abbott Laboratories 4.75%, 11/30/2036
|
290,000
|
279,744
|
Avantor Funding, Inc. 4.63%, 7/15/2028 (a)
|
561,000
|
527,910
|
Baxter International, Inc.
|
||
1.73%, 4/1/2031
|
1,500,000
|
1,180,991
|
3.13%, 12/1/2051
|
500,000
|
312,838
|
Becton Dickinson & Co. 3.70%, 6/6/2027
|
200,000
|
191,494
|
Boston Scientific Corp. 6.50%, 11/15/2035 (j)
|
700,000
|
770,277
|
DH Europe Finance II SARL 3.25%, 11/15/2039
|
250,000
|
196,616
|
Hologic, Inc. 3.25%, 2/15/2029 (a)
|
605,000
|
540,166
|
Medline Borrower LP
|
||
3.88%, 4/1/2029 (a)
|
2,485,000
|
2,261,789
|
6.25%, 4/1/2029 (a)
|
406,000
|
406,082
|
5.25%, 10/1/2029 (a)
|
55,000
|
51,847
|
Teleflex, Inc. 4.25%, 6/1/2028 (a)
|
905,000
|
845,639
|
|
|
7,565,393
|
Health Care Providers & Services — 1.1%
|
||
Acadia Healthcare Co., Inc.
|
||
5.50%, 7/1/2028 (a)
|
936,000
|
910,148
|
5.00%, 4/15/2029 (a)
|
175,000
|
164,971
|
AdaptHealth LLC 4.63%, 8/1/2029 (a)
|
85,000
|
72,794
|
Aetna, Inc.
|
||
4.13%, 11/15/2042
|
320,000
|
253,315
|
4.75%, 3/15/2044
|
200,000
|
170,275
|
3.88%, 8/15/2047
|
1,735,000
|
1,272,032
|
Cencora, Inc. 5.13%, 2/15/2034
|
370,000
|
362,077
|
Cigna Group (The)
|
||
2.38%, 3/15/2031
|
135,000
|
112,267
|
5.13%, 5/15/2031
|
470,000
|
464,968
|
CommonSpirit Health
|
||
1.55%, 10/1/2025
|
13,000
|
12,292
|
2.78%, 10/1/2030
|
13,000
|
11,181
|
3.91%, 10/1/2050
|
15,000
|
11,306
|
Community Health Network, Inc. Series 20-A, 3.10%, 5/1/2050
|
190,000
|
124,337
|
Community Health Systems, Inc.
|
||
8.00%, 3/15/2026 (a)
|
126,000
|
126,225
|
5.63%, 3/15/2027 (a)
|
1,830,000
|
1,733,287
|
4.75%, 2/15/2031 (a)
|
85,000
|
67,114
|
CVS Health Corp.
|
||
4.30%, 3/25/2028
|
737,000
|
710,295
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Health Care Providers & Services — continued
|
||
5.13%, 2/21/2030
|
265,000
|
260,591
|
5.25%, 2/21/2033
|
470,000
|
456,876
|
5.63%, 2/21/2053
|
1,000,000
|
927,389
|
DaVita, Inc. 4.63%, 6/1/2030 (a)
|
835,000
|
748,062
|
Encompass Health Corp.
|
||
4.50%, 2/1/2028
|
180,000
|
170,044
|
4.75%, 2/1/2030
|
1,210,000
|
1,119,911
|
4.63%, 4/1/2031
|
75,000
|
67,789
|
Hackensack Meridian Health, Inc. Series 2020, 2.68%, 9/1/2041
|
50,000
|
34,658
|
HCA, Inc.
|
||
4.50%, 2/15/2027
|
580,000
|
566,046
|
5.63%, 9/1/2028
|
3,750,000
|
3,770,148
|
3.50%, 9/1/2030
|
2,012,000
|
1,800,419
|
2.38%, 7/15/2031
|
1,130,000
|
921,888
|
5.60%, 4/1/2034
|
910,000
|
902,142
|
5.50%, 6/15/2047
|
300,000
|
278,540
|
5.25%, 6/15/2049
|
865,000
|
767,270
|
3.50%, 7/15/2051
|
30,000
|
20,019
|
4.63%, 3/15/2052
|
960,000
|
773,837
|
6.00%, 4/1/2054
|
910,000
|
893,622
|
Memorial Health Services 3.45%, 11/1/2049
|
530,000
|
387,512
|
MultiCare Health System 2.80%, 8/15/2050
|
10,000
|
5,908
|
MyMichigan Health Series 2020, 3.41%, 6/1/2050
|
10,000
|
7,124
|
New York and Presbyterian Hospital (The) 2.61%, 8/1/2060
|
5,000
|
2,787
|
Northwell Healthcare, Inc. 4.26%, 11/1/2047
|
110,000
|
88,144
|
Northwestern Memorial Healthcare Obligated Group Series 2021, 2.63%, 7/15/2051
|
617,000
|
391,039
|
Owens & Minor, Inc. 4.50%, 3/31/2029 (a)
|
1,100,000
|
970,757
|
Quest Diagnostics, Inc.
|
||
2.95%, 6/30/2030
|
55,000
|
48,492
|
6.40%, 11/30/2033
|
580,000
|
619,125
|
Sutter Health 5.55%, 8/15/2053
|
150,000
|
152,819
|
Tenet Healthcare Corp.
|
||
5.13%, 11/1/2027
|
905,000
|
881,828
|
4.63%, 6/15/2028
|
1,040,000
|
988,366
|
4.25%, 6/1/2029
|
4,203,000
|
3,888,186
|
4.38%, 1/15/2030
|
875,000
|
804,648
|
6.13%, 6/15/2030
|
985,000
|
976,293
|
6.75%, 5/15/2031 (a)
|
740,000
|
746,777
|
UnitedHealth Group, Inc.
|
||
4.63%, 11/15/2041
|
232,000
|
210,323
|
3.25%, 5/15/2051
|
485,000
|
332,249
|
5.88%, 2/15/2053
|
395,000
|
408,862
|
5.05%, 4/15/2053
|
1,400,000
|
1,291,173
|
|
|
34,260,547
|
Health Care REITs — 0.0% ^
|
||
Healthcare Realty Holdings LP 3.10%, 2/15/2030
|
700,000
|
607,811
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Health Care REITs — continued
|
||
Healthpeak OP LLC
|
||
2.13%, 12/1/2028
|
64,000
|
56,192
|
3.00%, 1/15/2030
|
87,000
|
76,780
|
Sabra Health Care LP 3.20%, 12/1/2031
|
120,000
|
98,889
|
Ventas Realty LP 3.25%, 10/15/2026
|
300,000
|
283,530
|
|
|
1,123,202
|
Health Care Technology — 0.0% ^
|
||
IQVIA, Inc.
|
||
5.00%, 5/15/2027 (a)
|
200,000
|
194,281
|
6.50%, 5/15/2030 (a)
|
510,000
|
515,051
|
|
|
709,332
|
Hotel & Resort REITs — 0.0% ^
|
||
RHP Hotel Properties LP
|
||
4.75%, 10/15/2027
|
390,000
|
373,983
|
7.25%, 7/15/2028 (a)
|
985,000
|
1,006,281
|
|
|
1,380,264
|
Hotels, Restaurants & Leisure — 0.8%
|
||
1011778 BC ULC (Canada)
|
||
5.75%, 4/15/2025 (a)
|
50,000
|
49,807
|
4.00%, 10/15/2030 (a)
|
290,000
|
252,341
|
Acushnet Co. 7.38%, 10/15/2028 (a)
|
730,000
|
750,750
|
Boyd Gaming Corp. 4.75%, 12/1/2027
|
548,000
|
521,614
|
Boyne USA, Inc. 4.75%, 5/15/2029 (a)
|
577,000
|
532,888
|
Caesars Entertainment, Inc.
|
||
8.13%, 7/1/2027 (a)
|
285,000
|
290,555
|
4.63%, 10/15/2029 (a)
|
1,405,000
|
1,269,300
|
7.00%, 2/15/2030 (a)
|
655,000
|
662,075
|
6.50%, 2/15/2032 (a)
|
918,000
|
907,766
|
Carnival Corp.
|
||
5.75%, 3/1/2027 (a)
|
560,000
|
549,686
|
4.00%, 8/1/2028 (a)
|
1,000,000
|
918,570
|
10.50%, 6/1/2030 (a)
|
390,000
|
423,923
|
Carnival Holdings Bermuda Ltd. 10.38%, 5/1/2028 (a)
|
765,000
|
828,219
|
Cedar Fair LP
|
||
6.50%, 10/1/2028
|
933,000
|
931,288
|
5.25%, 7/15/2029
|
250,000
|
235,504
|
Hilton Domestic Operating Co., Inc.
|
||
5.38%, 5/1/2025 (a)
|
25,000
|
24,874
|
5.75%, 5/1/2028 (a)
|
285,000
|
282,391
|
3.75%, 5/1/2029 (a)
|
345,000
|
312,624
|
4.88%, 1/15/2030
|
1,220,000
|
1,153,472
|
McDonald's Corp. 5.45%, 8/14/2053
|
430,000
|
417,366
|
MGM Resorts International
|
||
4.63%, 9/1/2026
|
355,000
|
344,380
|
5.50%, 4/15/2027
|
726,000
|
714,013
|
6.50%, 4/15/2032
|
690,000
|
674,692
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Hotels, Restaurants & Leisure — continued
|
||
Royal Caribbean Cruises Ltd.
|
||
5.38%, 7/15/2027 (a)
|
805,000
|
788,726
|
8.25%, 1/15/2029 (a)
|
1,107,000
|
1,165,106
|
9.25%, 1/15/2029 (a)
|
1,117,000
|
1,189,808
|
7.25%, 1/15/2030 (a)
|
1,270,000
|
1,311,918
|
6.25%, 3/15/2032 (a)
|
285,000
|
283,701
|
Six Flags Entertainment Corp.
|
||
7.25%, 5/15/2031 (a)
|
255,000
|
255,164
|
6.63%, 5/1/2032 (a)
|
376,000
|
376,274
|
Six Flags Theme Parks, Inc. 7.00%, 7/1/2025 (a)
|
253,000
|
253,335
|
Starbucks Corp.
|
||
4.90%, 2/15/2031
|
350,000
|
344,624
|
4.80%, 2/15/2033
|
350,000
|
339,740
|
3.35%, 3/12/2050
|
5,000
|
3,409
|
Station Casinos LLC 4.50%, 2/15/2028 (a)
|
700,000
|
651,830
|
Vail Resorts, Inc. 6.50%, 5/15/2032 (a)
|
923,000
|
929,040
|
Wynn Las Vegas LLC 5.25%, 5/15/2027 (a)
|
125,000
|
121,669
|
Wynn Macau Ltd. (Macau)
|
||
4.88%, 10/1/2024 (a)
|
375,000
|
372,607
|
5.63%, 8/26/2028 (a)
|
200,000
|
187,063
|
Wynn Resorts Finance LLC
|
||
5.13%, 10/1/2029 (a)
|
1,905,000
|
1,791,545
|
7.13%, 2/15/2031 (a)
|
985,000
|
1,011,384
|
Yum! Brands, Inc.
|
||
4.75%, 1/15/2030 (a)
|
215,000
|
202,697
|
4.63%, 1/31/2032
|
1,025,000
|
933,646
|
|
|
25,561,384
|
Household Durables — 0.1%
|
||
CD&R Smokey Buyer, Inc. 6.75%, 7/15/2025 (a)
|
605,000
|
600,198
|
Newell Brands, Inc.
|
||
5.70%, 4/1/2026 (j)
|
1,265,000
|
1,249,085
|
6.63%, 9/15/2029
|
950,000
|
929,384
|
6.87%, 4/1/2036 (j)
|
310,000
|
275,256
|
Tempur Sealy International, Inc. 4.00%, 4/15/2029 (a)
|
970,000
|
869,823
|
|
|
3,923,746
|
Household Products — 0.1%
|
||
Central Garden & Pet Co.
|
||
5.13%, 2/1/2028
|
145,000
|
139,540
|
4.13%, 10/15/2030
|
755,000
|
668,588
|
Energizer Holdings, Inc.
|
||
4.75%, 6/15/2028 (a)
|
950,000
|
876,382
|
4.38%, 3/31/2029 (a)
|
275,000
|
244,459
|
Spectrum Brands, Inc. 5.00%, 10/1/2029 (a)
|
475,000
|
474,746
|
|
|
2,403,715
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Independent Power and Renewable Electricity Producers — 0.2%
|
||
Calpine Corp.
|
||
5.25%, 6/1/2026 (a)
|
548,000
|
541,335
|
4.50%, 2/15/2028 (a)
|
260,000
|
244,491
|
5.13%, 3/15/2028 (a)
|
425,000
|
405,006
|
Constellation Energy Generation LLC
|
||
3.25%, 6/1/2025
|
187,000
|
182,708
|
5.80%, 3/1/2033
|
35,000
|
35,548
|
6.25%, 10/1/2039
|
85,000
|
88,061
|
5.75%, 10/1/2041
|
1,120,000
|
1,089,314
|
5.60%, 6/15/2042
|
215,000
|
206,753
|
6.50%, 10/1/2053
|
2,115,000
|
2,258,522
|
5.75%, 3/15/2054
|
554,000
|
537,217
|
|
|
5,588,955
|
Industrial Conglomerates — 0.0% ^
|
||
Honeywell International, Inc. 5.25%, 3/1/2054
|
650,000
|
630,149
|
Industrial REITs — 0.0% ^
|
||
Prologis LP
|
||
1.75%, 7/1/2030
|
149,000
|
122,105
|
4.75%, 6/15/2033
|
640,000
|
614,243
|
|
|
736,348
|
Insurance — 0.4%
|
||
Alleghany Corp. 3.25%, 8/15/2051
|
50,000
|
33,520
|
Aon Corp. 5.35%, 2/28/2033
|
165,000
|
162,507
|
Aon North America, Inc. 5.75%, 3/1/2054
|
350,000
|
344,207
|
Athene Global Funding
|
||
1.45%, 1/8/2026 (a)
|
370,000
|
345,882
|
2.95%, 11/12/2026 (a)
|
44,000
|
41,347
|
Berkshire Hathaway Finance Corp.
|
||
2.50%, 1/15/2051
|
200,000
|
120,878
|
3.85%, 3/15/2052
|
715,000
|
549,621
|
Cincinnati Financial Corp. 6.13%, 11/1/2034
|
200,000
|
208,030
|
CNA Financial Corp. 5.13%, 2/15/2034
|
280,000
|
267,837
|
CNO Global Funding 5.88%, 6/4/2027 (a)
|
1,000,000
|
1,002,449
|
Corebridge Global Funding 5.90%, 9/19/2028 (a)
|
140,000
|
142,276
|
Equitable Financial Life Global Funding 1.70%, 11/12/2026 (a)
|
25,000
|
22,776
|
F&G Annuities & Life, Inc. 6.50%, 6/4/2029 (k)
|
890,000
|
888,586
|
F&G Global Funding 1.75%, 6/30/2026 (a)
|
10,000
|
9,165
|
Fidelity & Guaranty Life Holdings, Inc. 5.50%, 5/1/2025 (a)
|
440,000
|
437,812
|
Great-West Lifeco Finance 2018 LP (Canada) 4.58%, 5/17/2048 (a)
|
20,000
|
17,079
|
Guardian Life Global Funding 5.74%, 10/2/2028 (a)
|
500,000
|
512,010
|
High Street Funding Trust I 4.11%, 2/15/2028 (a)
|
641,000
|
602,357
|
Manulife Financial Corp. (Canada) 4.15%, 3/4/2026
|
42,000
|
41,178
|
Marsh & McLennan Cos., Inc. 5.45%, 3/15/2053
|
305,000
|
295,212
|
MetLife, Inc.
|
||
4.13%, 8/13/2042
|
329,000
|
272,155
|
5.00%, 7/15/2052
|
350,000
|
320,384
|
Metropolitan Life Global Funding I 5.15%, 3/28/2033 (a)
|
880,000
|
867,014
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Insurance — continued
|
||
Mutual of Omaha Cos. Global Funding 5.45%, 12/12/2028 (a)
|
300,000
|
301,170
|
New York Life Global Funding 3.00%, 1/10/2028 (a)
|
51,000
|
47,443
|
New York Life Insurance Co. 4.45%, 5/15/2069 (a)
|
50,000
|
39,427
|
Northwestern Mutual Global Funding 5.16%, 5/28/2031 (a)
|
630,000
|
627,283
|
Pacific Life Global Funding II 5.50%, 8/28/2026 (a)
|
135,000
|
135,690
|
Pacific Life Insurance Co. (3-MONTH SOFR + 2.80%), 4.30%, 10/24/2067 (a) (d)
|
27,000
|
20,633
|
Pricoa Global Funding I 5.55%, 8/28/2026 (a)
|
175,000
|
175,956
|
Principal Financial Group, Inc. 3.70%, 5/15/2029
|
235,000
|
217,682
|
Principal Life Global Funding II 5.10%, 1/25/2029 (a)
|
400,000
|
396,065
|
Protective Life Global Funding 5.47%, 12/8/2028 (a)
|
543,000
|
546,386
|
Prudential Financial, Inc.
|
||
3.88%, 3/27/2028
|
32,000
|
30,613
|
3.91%, 12/7/2047
|
250,000
|
192,375
|
Prudential Funding Asia plc (Hong Kong) 3.13%, 4/14/2030
|
470,000
|
418,594
|
Teachers Insurance & Annuity Association of America 4.27%, 5/15/2047 (a)
|
800,000
|
643,402
|
W R Berkley Corp. 3.55%, 3/30/2052
|
45,000
|
30,617
|
|
|
11,327,618
|
Interactive Media & Services — 0.0% ^
|
||
Meta Platforms, Inc.
|
||
4.80%, 5/15/2030
|
210,000
|
209,082
|
5.60%, 5/15/2053
|
515,000
|
521,815
|
TripAdvisor, Inc. 7.00%, 7/15/2025 (a)
|
420,000
|
420,726
|
|
|
1,151,623
|
IT Services — 0.1%
|
||
Arches Buyer, Inc. 4.25%, 6/1/2028 (a)
|
550,000
|
480,031
|
CGI, Inc. (Canada) 1.45%, 9/14/2026
|
170,000
|
155,414
|
Presidio Holdings, Inc. 4.88%, 2/1/2027 (a)
|
605,000
|
604,434
|
Twilio, Inc. 3.63%, 3/15/2029
|
510,000
|
455,783
|
|
|
1,695,662
|
Leisure Products — 0.0% ^
|
||
Amer Sports Co. (Finland) 6.75%, 2/16/2031 (a)
|
480,000
|
478,272
|
Hasbro, Inc. 3.90%, 11/19/2029
|
15,000
|
13,739
|
|
|
492,011
|
Life Sciences Tools & Services — 0.0% ^
|
||
Charles River Laboratories International, Inc. 3.75%, 3/15/2029 (a)
|
120,000
|
108,546
|
Danaher Corp. 2.80%, 12/10/2051
|
300,000
|
188,013
|
|
|
296,559
|
Machinery — 0.2%
|
||
Chart Industries, Inc. 7.50%, 1/1/2030 (a)
|
1,330,000
|
1,369,779
|
Esab Corp. 6.25%, 4/15/2029 (a)
|
727,000
|
728,666
|
Hillenbrand, Inc. 3.75%, 3/1/2031
|
984,000
|
847,771
|
Illinois Tool Works, Inc. 3.90%, 9/1/2042
|
15,000
|
12,456
|
Parker-Hannifin Corp.
|
||
3.25%, 3/1/2027
|
92,000
|
87,651
|
4.25%, 9/15/2027
|
300,000
|
291,632
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Machinery — continued
|
||
Terex Corp. 5.00%, 5/15/2029 (a)
|
275,000
|
258,638
|
Trinity Industries, Inc. 7.75%, 7/15/2028 (a)
|
630,000
|
649,188
|
Wabash National Corp. 4.50%, 10/15/2028 (a)
|
750,000
|
676,872
|
Xylem, Inc. 1.95%, 1/30/2028
|
30,000
|
26,880
|
|
|
4,949,533
|
Marine Transportation — 0.0% ^
|
||
MV24 Capital BV (Brazil) 6.75%, 6/1/2034 (a)
|
483,816
|
452,670
|
Media — 1.4%
|
||
Altice Financing SA (Luxembourg) 5.00%, 1/15/2028 (a)
|
445,000
|
351,529
|
Charter Communications Operating LLC
|
||
2.25%, 1/15/2029
|
1,265,000
|
1,074,748
|
2.30%, 2/1/2032
|
1,250,000
|
958,199
|
6.65%, 2/1/2034
|
5,700,000
|
5,772,919
|
3.50%, 6/1/2041
|
85,000
|
57,113
|
3.50%, 3/1/2042
|
535,000
|
355,736
|
3.70%, 4/1/2051
|
40,000
|
24,484
|
Clear Channel Outdoor Holdings, Inc. 5.13%, 8/15/2027 (a)
|
1,662,000
|
1,570,091
|
Comcast Corp.
|
||
2.65%, 2/1/2030
|
2,230,000
|
1,957,725
|
4.25%, 10/15/2030
|
1,344,000
|
1,279,382
|
1.50%, 2/15/2031
|
450,000
|
358,492
|
5.30%, 6/1/2034
|
540,000
|
539,578
|
3.90%, 3/1/2038
|
515,000
|
435,021
|
3.25%, 11/1/2039
|
813,000
|
621,513
|
2.80%, 1/15/2051
|
2,300,000
|
1,409,989
|
2.89%, 11/1/2051
|
1,520,000
|
945,494
|
4.05%, 11/1/2052
|
500,000
|
386,846
|
5.35%, 5/15/2053
|
3,425,000
|
3,260,756
|
2.94%, 11/1/2056
|
3,348,000
|
2,012,118
|
CSC Holdings LLC
|
||
5.38%, 2/1/2028 (a)
|
470,000
|
330,080
|
6.50%, 2/1/2029 (a)
|
1,570,000
|
1,062,297
|
4.50%, 11/15/2031 (a)
|
200,000
|
122,336
|
Directv Financing LLC 5.88%, 8/15/2027 (a)
|
956,000
|
897,696
|
Discovery Communications LLC 4.00%, 9/15/2055
|
45,000
|
28,796
|
DISH DBS Corp.
|
||
5.88%, 11/15/2024
|
1,356,000
|
1,291,231
|
5.25%, 12/1/2026 (a)
|
175,000
|
139,357
|
DISH Network Corp. 11.75%, 11/15/2027 (a)
|
2,615,000
|
2,623,661
|
Gannett Holdings LLC 6.00%, 11/1/2026 (a)
|
550,000
|
519,055
|
Gray Television, Inc.
|
||
10.50%, 7/15/2029 (a)
|
720,000
|
715,225
|
4.75%, 10/15/2030 (a)
|
100,000
|
56,889
|
5.38%, 11/15/2031 (a)
|
135,000
|
74,973
|
iHeartCommunications, Inc.
|
||
6.38%, 5/1/2026
|
1,200,000
|
918,337
|
8.38%, 5/1/2027
|
25,000
|
9,032
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Media — continued
|
||
5.25%, 8/15/2027 (a)
|
260,000
|
143,627
|
Lamar Media Corp.
|
||
3.75%, 2/15/2028
|
215,000
|
200,422
|
4.00%, 2/15/2030
|
600,000
|
539,643
|
News Corp. 3.88%, 5/15/2029 (a)
|
685,000
|
621,571
|
Nexstar Media, Inc.
|
||
5.63%, 7/15/2027 (a)
|
785,000
|
740,948
|
4.75%, 11/1/2028 (a)
|
565,000
|
498,336
|
Outfront Media Capital LLC
|
||
5.00%, 8/15/2027 (a)
|
461,000
|
442,704
|
7.38%, 2/15/2031 (a)
|
455,000
|
470,221
|
Scripps Escrow II, Inc. 3.88%, 1/15/2029 (a)
|
270,000
|
173,379
|
Scripps Escrow, Inc. 5.88%, 7/15/2027 (a)
|
115,000
|
74,678
|
Sinclair Television Group, Inc. 4.13%, 12/1/2030 (a)
|
150,000
|
101,725
|
Sirius XM Radio, Inc.
|
||
5.00%, 8/1/2027 (a)
|
110,000
|
104,464
|
4.00%, 7/15/2028 (a)
|
3,820,000
|
3,419,520
|
5.50%, 7/1/2029 (a)
|
160,000
|
148,602
|
4.13%, 7/1/2030 (a)
|
792,000
|
663,814
|
Stagwell Global LLC 5.63%, 8/15/2029 (a)
|
520,000
|
475,981
|
TEGNA, Inc.
|
||
4.63%, 3/15/2028
|
548,000
|
496,357
|
5.00%, 9/15/2029
|
1,007,000
|
884,940
|
Univision Communications, Inc.
|
||
6.63%, 6/1/2027 (a)
|
540,000
|
521,694
|
7.38%, 6/30/2030 (a)
|
730,000
|
691,771
|
Videotron Ltd. (Canada) 5.38%, 6/15/2024 (a)
|
37,000
|
36,928
|
|
|
43,612,023
|
Metals & Mining — 0.4%
|
||
Alcoa Nederland Holding BV
|
||
5.50%, 12/15/2027 (a)
|
920,000
|
909,299
|
6.13%, 5/15/2028 (a)
|
500,000
|
498,985
|
ATI, Inc.
|
||
5.88%, 12/1/2027
|
460,000
|
451,690
|
7.25%, 8/15/2030
|
250,000
|
255,928
|
BHP Billiton Finance USA Ltd. (Australia) 4.90%, 2/28/2033
|
100,000
|
97,594
|
Big River Steel LLC 6.63%, 1/31/2029 (a)
|
635,000
|
632,568
|
Carpenter Technology Corp. 6.38%, 7/15/2028
|
795,000
|
793,726
|
Cleveland-Cliffs, Inc.
|
||
5.88%, 6/1/2027
|
635,000
|
629,094
|
4.63%, 3/1/2029 (a)
|
310,000
|
290,161
|
6.75%, 4/15/2030 (a)
|
280,000
|
276,806
|
Corp. Nacional del Cobre de Chile (Chile)
|
||
6.44%, 1/26/2036 (a)
|
237,000
|
241,147
|
6.30%, 9/8/2053 (a)
|
200,000
|
195,563
|
FMG Resources August 2006 Pty. Ltd. (Australia)
|
||
4.50%, 9/15/2027 (a)
|
100,000
|
94,991
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Metals & Mining — continued
|
||
5.88%, 4/15/2030 (a)
|
135,000
|
130,946
|
Freeport-McMoRan, Inc.
|
||
4.63%, 8/1/2030
|
231,000
|
220,965
|
5.40%, 11/14/2034
|
183,000
|
178,471
|
Glencore Funding LLC (Australia)
|
||
3.88%, 10/27/2027 (a)
|
40,000
|
37,920
|
6.13%, 10/6/2028 (a)
|
2,000,000
|
2,044,364
|
2.50%, 9/1/2030 (a)
|
37,000
|
31,091
|
2.85%, 4/27/2031 (a)
|
435,000
|
366,420
|
5.63%, 4/4/2034 (a)
|
4,520,000
|
4,440,371
|
Newmont Corp. 5.75%, 11/15/2041 (a)
|
300,000
|
300,608
|
Rio Tinto Finance USA Ltd. (Australia) 5.20%, 11/2/2040
|
20,000
|
19,469
|
Rio Tinto Finance USA plc (Australia) 4.13%, 8/21/2042
|
370,000
|
311,354
|
Teck Resources Ltd. (Canada) 5.40%, 2/1/2043
|
20,000
|
18,247
|
United States Steel Corp. 6.88%, 3/1/2029
|
147,000
|
147,001
|
Vale Overseas Ltd. (Brazil)
|
||
3.75%, 7/8/2030
|
20,000
|
17,948
|
6.13%, 6/12/2033
|
365,000
|
364,954
|
|
|
13,997,681
|
Mortgage Real Estate Investment Trusts (REITs) — 0.1%
|
||
Great Ajax Operating Partnership LP Series QIB, 8.88%, 9/1/2027 (a)
|
1,000,000
|
960,372
|
Starwood Property Trust, Inc. 7.25%, 4/1/2029 (a)
|
730,000
|
725,989
|
|
|
1,686,361
|
Multi-Utilities — 0.5%
|
||
Ameren Corp.
|
||
1.95%, 3/15/2027
|
20,000
|
18,286
|
3.50%, 1/15/2031
|
1,541,000
|
1,380,781
|
Ameren Illinois Co. 4.95%, 6/1/2033
|
750,000
|
729,933
|
Berkshire Hathaway Energy Co. 5.15%, 11/15/2043
|
194,000
|
182,301
|
Consolidated Edison Co. of New York, Inc.
|
||
Series E, 4.65%, 12/1/2048
|
225,000
|
191,571
|
Series A, 4.13%, 5/15/2049
|
491,000
|
385,976
|
Consumers Energy Co. 4.63%, 5/15/2033
|
365,000
|
348,390
|
Dominion Energy, Inc.
|
||
Series B, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.51%),
7.00%, 6/1/2054 (d)
|
410,000
|
423,268
|
Series A, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.39%),
6.88%, 2/1/2055 (d)
|
630,000
|
639,061
|
DTE Energy Co. 4.88%, 6/1/2028
|
500,000
|
492,173
|
Engie SA (France)
|
||
5.25%, 4/10/2029 (a)
|
715,000
|
710,267
|
5.63%, 4/10/2034 (a)
|
935,000
|
932,343
|
NiSource, Inc. 5.25%, 3/30/2028
|
275,000
|
274,258
|
PG&E Energy Recovery Funding LLC Series A-3, 2.82%, 7/15/2046
|
70,000
|
48,853
|
Public Service Enterprise Group, Inc. 5.45%, 4/1/2034
|
200,000
|
197,548
|
Puget Sound Energy, Inc.
|
||
5.76%, 7/15/2040
|
140,000
|
137,852
|
5.45%, 6/1/2053
|
30,000
|
28,890
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Multi-Utilities — continued
|
||
San Diego Gas & Electric Co.
|
||
4.95%, 8/15/2028
|
350,000
|
349,229
|
2.95%, 8/15/2051
|
170,000
|
109,793
|
5.35%, 4/1/2053
|
3,200,000
|
3,029,062
|
Sempra (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.79%), 6.88%,
10/1/2054 (d)
|
1,960,000
|
1,940,768
|
Southern Co. Gas Capital Corp.
|
||
5.75%, 9/15/2033
|
1,160,000
|
1,185,508
|
4.40%, 5/30/2047
|
100,000
|
81,541
|
Series 21A, 3.15%, 9/30/2051
|
710,000
|
447,926
|
WEC Energy Group, Inc. 5.60%, 9/12/2026
|
270,000
|
271,120
|
|
|
14,536,698
|
Office REITs — 0.0% ^
|
||
Alexandria Real Estate Equities, Inc.
|
||
1.88%, 2/1/2033
|
53,000
|
39,733
|
5.15%, 4/15/2053
|
30,000
|
26,470
|
COPT Defense Properties LP 2.25%, 3/15/2026
|
94,000
|
88,477
|
|
|
154,680
|
Oil, Gas & Consumable Fuels — 3.0%
|
||
Aker BP ASA (Norway) 3.10%, 7/15/2031 (a)
|
250,000
|
211,677
|
Antero Midstream Partners LP
|
||
5.75%, 3/1/2027 (a)
|
430,000
|
425,105
|
5.75%, 1/15/2028 (a)
|
815,000
|
797,278
|
5.38%, 6/15/2029 (a)
|
485,000
|
464,833
|
Antero Resources Corp.
|
||
7.63%, 2/1/2029 (a)
|
1,023,000
|
1,053,802
|
5.38%, 3/1/2030 (a)
|
125,000
|
119,634
|
Apache Corp. 4.38%, 10/15/2028
|
179,000
|
168,378
|
Ascent Resources Utica Holdings LLC 8.25%, 12/31/2028 (a)
|
855,000
|
874,550
|
Baytex Energy Corp. (Canada) 8.50%, 4/30/2030 (a)
|
1,014,000
|
1,057,422
|
Blue Racer Midstream LLC
|
||
6.63%, 7/15/2026 (a)
|
850,000
|
849,075
|
7.00%, 7/15/2029 (a)
|
216,000
|
218,265
|
7.25%, 7/15/2032 (a)
|
160,000
|
163,017
|
BP Capital Markets America, Inc.
|
||
2.72%, 1/12/2032
|
557,000
|
472,350
|
4.81%, 2/13/2033
|
3,760,000
|
3,636,590
|
4.89%, 9/11/2033
|
710,000
|
689,293
|
3.00%, 2/24/2050
|
174,000
|
113,315
|
2.94%, 6/4/2051
|
67,000
|
42,677
|
3.00%, 3/17/2052
|
1,085,000
|
700,696
|
BP Capital Markets plc (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year
+ 4.40%), 4.88%,
3/22/2030 (d) (f) (g)
|
155,000
|
146,244
|
Buckeye Partners LP
|
||
3.95%, 12/1/2026
|
795,000
|
756,191
|
4.13%, 12/1/2027
|
175,000
|
162,292
|
California Resources Corp. 7.13%, 2/1/2026 (a)
|
325,000
|
326,641
|
Cameron LNG LLC 3.70%, 1/15/2039 (a)
|
20,000
|
16,139
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Oil, Gas & Consumable Fuels — continued
|
||
Cheniere Energy Partners LP
|
||
4.50%, 10/1/2029
|
1,169,000
|
1,110,929
|
4.00%, 3/1/2031
|
3,000,000
|
2,703,765
|
5.75%, 8/15/2034 (a)
|
2,225,000
|
2,210,162
|
Chesapeake Energy Corp.
|
||
5.88%, 2/1/2029 (a)
|
650,000
|
639,160
|
6.75%, 4/15/2029 (a)
|
1,175,000
|
1,178,083
|
Chord Energy Corp. 6.38%, 6/1/2026 (a)
|
730,000
|
728,829
|
Civitas Resources, Inc.
|
||
8.38%, 7/1/2028 (a)
|
290,000
|
304,351
|
8.63%, 11/1/2030 (a)
|
1,040,000
|
1,112,469
|
8.75%, 7/1/2031 (a)
|
1,467,000
|
1,566,190
|
Columbia Pipelines Operating Co. LLC
|
||
6.04%, 11/15/2033 (a)
|
360,000
|
366,945
|
6.50%, 8/15/2043 (a)
|
210,000
|
218,982
|
Comstock Resources, Inc.
|
||
6.75%, 3/1/2029 (a)
|
1,165,000
|
1,126,887
|
5.88%, 1/15/2030 (a)
|
35,000
|
32,263
|
ConocoPhillips Co.
|
||
3.80%, 3/15/2052
|
610,000
|
455,632
|
5.55%, 3/15/2054
|
2,340,000
|
2,304,720
|
Coterra Energy, Inc. 3.90%, 5/15/2027
|
30,000
|
28,782
|
Crescent Energy Finance LLC 9.25%, 2/15/2028 (a)
|
1,495,000
|
1,582,795
|
Diamondback Energy, Inc. 5.40%, 4/18/2034
|
452,000
|
445,556
|
DT Midstream, Inc.
|
||
4.13%, 6/15/2029 (a)
|
1,180,000
|
1,079,053
|
4.38%, 6/15/2031 (a)
|
180,000
|
161,683
|
4.30%, 4/15/2032 (a)
|
80,000
|
71,877
|
Ecopetrol SA (Colombia) 8.38%, 1/19/2036
|
257,000
|
250,093
|
Enbridge, Inc. (Canada)
|
||
5.63%, 4/5/2034
|
970,000
|
964,160
|
(US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 4.43%), 8.50%, 1/15/2084 (d)
|
1,025,000
|
1,101,570
|
Encino Acquisition Partners Holdings LLC 8.50%, 5/1/2028 (a)
|
415,000
|
423,095
|
Energy Transfer LP
|
||
4.15%, 9/15/2029
|
1,150,000
|
1,084,984
|
5.75%, 2/15/2033
|
450,000
|
449,932
|
5.95%, 5/15/2054
|
1,000,000
|
962,107
|
Eni SpA (Italy) 5.95%, 5/15/2054 (a)
|
520,000
|
514,182
|
Eni USA, Inc. (Italy) 7.30%, 11/15/2027
|
140,000
|
147,744
|
EnLink Midstream LLC 5.38%, 6/1/2029
|
947,000
|
921,354
|
EnLink Midstream Partners LP
|
||
4.85%, 7/15/2026
|
645,000
|
630,629
|
5.60%, 4/1/2044
|
404,000
|
354,671
|
Enterprise Products Operating LLC Series H, 6.65%, 10/15/2034
|
530,000
|
580,041
|
EQM Midstream Partners LP
|
||
4.13%, 12/1/2026
|
420,000
|
403,552
|
7.50%, 6/1/2027 (a)
|
1,245,000
|
1,272,000
|
6.50%, 7/1/2027 (a)
|
405,000
|
408,397
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Oil, Gas & Consumable Fuels — continued
|
||
5.50%, 7/15/2028
|
365,000
|
357,904
|
4.50%, 1/15/2029 (a)
|
215,000
|
200,373
|
4.75%, 1/15/2031 (a)
|
335,000
|
307,627
|
Exxon Mobil Corp.
|
||
4.23%, 3/19/2040
|
750,000
|
662,469
|
3.10%, 8/16/2049
|
220,000
|
149,908
|
Flex Intermediate Holdco LLC
|
||
3.36%, 6/30/2031 (a)
|
15,000
|
12,337
|
4.32%, 12/30/2039 (a)
|
20,000
|
14,425
|
Genesis Energy LP
|
||
8.00%, 1/15/2027
|
385,000
|
392,361
|
7.75%, 2/1/2028
|
630,000
|
632,769
|
Gray Oak Pipeline LLC 2.60%, 10/15/2025 (a)
|
477,000
|
456,724
|
Greenko Dutch BV (India) 3.85%, 3/29/2026 (a)
|
364,000
|
342,474
|
Greensaif Pipelines Bidco SARL (Saudi Arabia) 6.51%, 2/23/2042 (a)
|
400,000
|
410,740
|
Gulfport Energy Corp. 8.00%, 5/17/2026 (a)
|
950,000
|
963,023
|
Harvest Midstream I LP 7.50%, 5/15/2032 (a)
|
530,000
|
537,188
|
Hess Corp. 4.30%, 4/1/2027
|
1,350,000
|
1,314,096
|
Hess Midstream Operations LP
|
||
5.63%, 2/15/2026 (a)
|
105,000
|
104,338
|
5.50%, 10/15/2030 (a)
|
275,000
|
263,938
|
Hilcorp Energy I LP 5.75%, 2/1/2029 (a)
|
1,384,000
|
1,336,941
|
Kinetik Holdings LP
|
||
6.63%, 12/15/2028 (a)
|
1,090,000
|
1,101,499
|
5.88%, 6/15/2030 (a)
|
3,259,000
|
3,175,857
|
Matador Resources Co. 6.50%, 4/15/2032 (a)
|
860,000
|
858,324
|
MEG Energy Corp. (Canada) 5.88%, 2/1/2029 (a)
|
430,000
|
417,330
|
MPLX LP
|
||
2.65%, 8/15/2030
|
470,000
|
401,458
|
5.50%, 6/1/2034
|
1,220,000
|
1,193,279
|
4.95%, 3/14/2052
|
55,000
|
46,833
|
NGL Energy Operating LLC
|
||
8.13%, 2/15/2029 (a)
|
273,000
|
277,900
|
8.38%, 2/15/2032 (a)
|
428,000
|
435,896
|
NGPL PipeCo LLC 3.25%, 7/15/2031 (a)
|
710,000
|
603,063
|
NuStar Logistics LP
|
||
5.75%, 10/1/2025
|
250,000
|
248,487
|
5.63%, 4/28/2027
|
395,000
|
389,053
|
Occidental Petroleum Corp. 6.20%, 3/15/2040
|
1,255,000
|
1,262,780
|
Ovintiv, Inc. 6.25%, 7/15/2033
|
274,000
|
281,301
|
Permian Resources Operating LLC
|
||
5.38%, 1/15/2026 (a)
|
315,000
|
311,181
|
7.75%, 2/15/2026 (a)
|
295,000
|
297,558
|
5.88%, 7/1/2029 (a)
|
910,000
|
891,781
|
9.88%, 7/15/2031 (a)
|
275,000
|
304,269
|
7.00%, 1/15/2032 (a)
|
370,000
|
377,996
|
Petroleos Mexicanos (Mexico)
|
||
6.88%, 8/4/2026
|
300,000
|
292,620
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Oil, Gas & Consumable Fuels — continued
|
||
5.35%, 2/12/2028
|
300,000
|
264,600
|
10.00%, 2/7/2033
|
1,100,000
|
1,107,700
|
7.69%, 1/23/2050
|
800,000
|
580,720
|
Phillips 66 4.65%, 11/15/2034
|
330,000
|
305,974
|
Pioneer Natural Resources Co.
|
||
1.13%, 1/15/2026
|
50,000
|
46,777
|
1.90%, 8/15/2030
|
2,330,000
|
1,947,351
|
Raizen Fuels Finance SA (Brazil) 6.45%, 3/5/2034 (a)
|
245,000
|
247,967
|
Range Resources Corp.
|
||
4.88%, 5/15/2025
|
45,000
|
44,613
|
8.25%, 1/15/2029
|
1,275,000
|
1,324,710
|
Rockies Express Pipeline LLC
|
||
3.60%, 5/15/2025 (a)
|
385,000
|
374,267
|
4.95%, 7/15/2029 (a)
|
465,000
|
430,703
|
4.80%, 5/15/2030 (a)
|
440,000
|
401,918
|
Sabine Pass Liquefaction LLC
|
||
5.63%, 3/1/2025
|
90,000
|
89,821
|
5.00%, 3/15/2027
|
1,225,000
|
1,214,783
|
4.50%, 5/15/2030
|
894,000
|
853,904
|
SM Energy Co.
|
||
6.75%, 9/15/2026
|
250,000
|
249,615
|
6.63%, 1/15/2027
|
605,000
|
601,480
|
Southwestern Energy Co.
|
||
5.70%, 1/23/2025 (j)
|
2,000
|
1,991
|
8.38%, 9/15/2028
|
305,000
|
314,914
|
5.38%, 2/1/2029
|
1,215,000
|
1,168,487
|
5.38%, 3/15/2030
|
370,000
|
355,905
|
Suncor Energy, Inc. (Canada) 6.80%, 5/15/2038
|
83,000
|
88,713
|
Sunoco LP
|
||
6.00%, 4/15/2027
|
185,000
|
183,378
|
5.88%, 3/15/2028
|
430,000
|
423,006
|
7.00%, 5/1/2029 (a)
|
200,000
|
204,222
|
4.50%, 5/15/2029
|
180,000
|
165,176
|
4.50%, 4/30/2030
|
815,000
|
735,622
|
7.25%, 5/1/2032 (a)
|
480,000
|
491,416
|
Tallgrass Energy Partners LP
|
||
6.00%, 3/1/2027 (a)
|
395,000
|
386,762
|
5.50%, 1/15/2028 (a)
|
55,000
|
52,460
|
7.38%, 2/15/2029 (a)
|
330,000
|
330,877
|
6.00%, 12/31/2030 (a)
|
865,000
|
815,211
|
6.00%, 9/1/2031 (a)
|
40,000
|
37,465
|
TotalEnergies Capital International SA (France)
|
||
2.99%, 6/29/2041
|
270,000
|
196,583
|
3.46%, 7/12/2049
|
424,000
|
307,260
|
TotalEnergies Capital SA (France)
|
||
5.49%, 4/5/2054
|
1,400,000
|
1,383,827
|
5.64%, 4/5/2064
|
2,705,000
|
2,693,041
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Oil, Gas & Consumable Fuels — continued
|
||
TransCanada PipeLines Ltd. (Canada)
|
||
4.63%, 3/1/2034
|
1,300,000
|
1,207,717
|
4.75%, 5/15/2038
|
500,000
|
453,668
|
5.10%, 3/15/2049
|
48,000
|
43,407
|
Valero Energy Corp. 2.15%, 9/15/2027
|
25,000
|
22,621
|
Venture Global Calcasieu Pass LLC 3.88%, 8/15/2029 (a)
|
570,000
|
513,345
|
Venture Global LNG, Inc.
|
||
8.13%, 6/1/2028 (a)
|
3,280,000
|
3,352,142
|
9.50%, 2/1/2029 (a)
|
1,355,000
|
1,469,526
|
8.38%, 6/1/2031 (a)
|
415,000
|
427,948
|
Vital Energy, Inc. 7.88%, 4/15/2032 (a)
|
450,000
|
456,910
|
|
|
93,361,691
|
Passenger Airlines — 0.2%
|
||
American Airlines, Inc.
|
||
5.50%, 4/20/2026 (a)
|
1,096,667
|
1,086,303
|
7.25%, 2/15/2028 (a)
|
225,000
|
224,674
|
5.75%, 4/20/2029 (a)
|
1,375,000
|
1,329,714
|
Continental Airlines Pass-Through Trust Series 2012-2, Class A Shares, 4.00%, 10/29/2024
|
24,371
|
24,196
|
Mileage Plus Holdings LLC 6.50%, 6/20/2027 (a)
|
1,023,750
|
1,024,730
|
United Airlines Holdings, Inc. 4.88%, 1/15/2025
|
16,000
|
15,884
|
United Airlines Pass-Through Trust Series 2016-2, Class A Shares, 3.10%, 10/7/2028
|
6,664
|
5,950
|
United Airlines, Inc. 4.63%, 4/15/2029 (a)
|
695,000
|
642,389
|
VistaJet Malta Finance plc (Switzerland) 9.50%, 6/1/2028 (a)
|
480,000
|
436,555
|
|
|
4,790,395
|
Personal Care Products — 0.0% ^
|
||
Edgewell Personal Care Co.
|
||
5.50%, 6/1/2028 (a)
|
545,000
|
529,824
|
4.13%, 4/1/2029 (a)
|
70,000
|
63,728
|
Estee Lauder Cos., Inc. (The) 2.60%, 4/15/2030
|
258,000
|
225,140
|
Kenvue, Inc. 5.10%, 3/22/2043
|
300,000
|
289,307
|
|
|
1,107,999
|
Pharmaceuticals — 0.7%
|
||
Astrazeneca Finance LLC (United Kingdom) 4.88%, 3/3/2033
|
500,000
|
493,092
|
AstraZeneca plc (United Kingdom) 1.38%, 8/6/2030
|
370,000
|
300,119
|
Bausch Health Americas, Inc.
|
||
9.25%, 4/1/2026 (a)
|
263,000
|
245,040
|
8.50%, 1/31/2027 (a)
|
88,000
|
63,748
|
Bausch Health Cos., Inc.
|
||
5.50%, 11/1/2025 (a)
|
1,357,000
|
1,279,773
|
5.75%, 8/15/2027 (a)
|
30,000
|
23,700
|
4.88%, 6/1/2028 (a)
|
280,000
|
205,100
|
Bristol-Myers Squibb Co.
|
||
5.75%, 2/1/2031
|
500,000
|
517,161
|
5.20%, 2/22/2034
|
1,760,000
|
1,748,633
|
4.13%, 6/15/2039
|
629,000
|
543,993
|
2.35%, 11/13/2040
|
480,000
|
317,198
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Pharmaceuticals — continued
|
||
3.70%, 3/15/2052
|
975,000
|
712,610
|
5.55%, 2/22/2054
|
1,870,000
|
1,841,132
|
3.90%, 3/15/2062
|
180,000
|
129,665
|
6.40%, 11/15/2063
|
520,000
|
567,161
|
5.65%, 2/22/2064
|
600,000
|
586,301
|
Eli Lilly & Co. 4.95%, 2/27/2063
|
740,000
|
683,046
|
Merck & Co., Inc.
|
||
5.00%, 5/17/2053
|
235,000
|
219,733
|
5.15%, 5/17/2063
|
425,000
|
401,265
|
Organon & Co.
|
||
4.13%, 4/30/2028 (a)
|
700,000
|
646,578
|
5.13%, 4/30/2031 (a)
|
750,000
|
662,780
|
Pfizer Investment Enterprises Pte. Ltd.
|
||
4.75%, 5/19/2033
|
540,000
|
522,128
|
5.30%, 5/19/2053
|
1,275,000
|
1,218,937
|
5.34%, 5/19/2063
|
3,600,000
|
3,382,867
|
Pfizer, Inc. 4.40%, 5/15/2044
|
500,000
|
444,724
|
Roche Holdings, Inc.
|
||
5.49%, 11/13/2030 (a)
|
1,620,000
|
1,654,653
|
4.99%, 3/8/2034 (a)
|
380,000
|
375,660
|
Royalty Pharma plc 1.20%, 9/2/2025
|
166,000
|
157,164
|
Takeda Pharmaceutical Co. Ltd. (Japan)
|
||
5.00%, 11/26/2028
|
1,000,000
|
990,467
|
3.03%, 7/9/2040
|
400,000
|
293,190
|
Zoetis, Inc.
|
||
2.00%, 5/15/2030
|
435,000
|
363,263
|
5.60%, 11/16/2032
|
214,000
|
218,520
|
|
|
21,809,401
|
Real Estate Management & Development — 0.0% ^
|
||
Anywhere Real Estate Group LLC 5.75%, 1/15/2029 (a)
|
105,000
|
72,049
|
Kennedy-Wilson, Inc. 4.75%, 3/1/2029
|
75,000
|
63,778
|
Ontario Teachers' Cadillac Fairview Properties Trust (Canada) 3.88%, 3/20/2027 (a)
|
200,000
|
192,209
|
|
|
328,036
|
Residential REITs — 0.0% ^
|
||
AvalonBay Communities, Inc. 3.35%, 5/15/2027
|
32,000
|
30,439
|
Camden Property Trust
|
||
5.85%, 11/3/2026
|
400,000
|
404,625
|
3.15%, 7/1/2029
|
130,000
|
117,488
|
ERP Operating LP 3.25%, 8/1/2027
|
191,000
|
180,025
|
Essex Portfolio LP 2.65%, 3/15/2032
|
535,000
|
436,962
|
Mid-America Apartments LP 4.20%, 6/15/2028
|
100,000
|
96,598
|
UDR, Inc. 2.10%, 8/1/2032
|
45,000
|
34,803
|
|
|
1,300,940
|
Retail REITs — 0.1%
|
||
NNN REIT, Inc.
|
||
3.60%, 12/15/2026
|
39,000
|
37,323
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Retail REITs — continued
|
||
5.60%, 10/15/2033
|
100,000
|
99,563
|
5.50%, 6/15/2034
|
220,000
|
217,035
|
Realty Income Corp.
|
||
4.13%, 10/15/2026
|
44,000
|
42,865
|
3.25%, 1/15/2031
|
279,000
|
246,464
|
Regency Centers LP 3.70%, 6/15/2030
|
685,000
|
625,865
|
Scentre Group Trust 1 (Australia)
|
||
3.50%, 2/12/2025 (a)
|
150,000
|
147,610
|
3.25%, 10/28/2025 (a)
|
160,000
|
154,910
|
|
|
1,571,635
|
Semiconductors & Semiconductor Equipment — 0.3%
|
||
Amkor Technology, Inc. 6.63%, 9/15/2027 (a)
|
885,000
|
884,899
|
ams-OSRAM AG (Austria) 12.25%, 3/30/2029 (a)
|
750,000
|
774,773
|
Broadcom, Inc. 3.14%, 11/15/2035 (a)
|
1,465,000
|
1,164,502
|
Entegris, Inc.
|
||
4.38%, 4/15/2028 (a)
|
460,000
|
430,293
|
3.63%, 5/1/2029 (a)
|
180,000
|
159,932
|
5.95%, 6/15/2030 (a)
|
690,000
|
679,196
|
Intel Corp. 5.70%, 2/10/2053
|
921,000
|
901,029
|
KLA Corp.
|
||
4.65%, 7/15/2032
|
440,000
|
426,355
|
5.00%, 3/15/2049
|
100,000
|
93,005
|
3.30%, 3/1/2050
|
280,000
|
196,604
|
Marvell Technology, Inc.
|
||
5.75%, 2/15/2029
|
550,000
|
559,568
|
2.95%, 4/15/2031
|
85,000
|
72,776
|
NVIDIA Corp. 3.50%, 4/1/2040
|
100,000
|
82,695
|
NXP BV (China)
|
||
3.25%, 5/11/2041
|
270,000
|
195,836
|
3.13%, 2/15/2042
|
330,000
|
231,960
|
QUALCOMM, Inc.
|
||
4.25%, 5/20/2032
|
55,000
|
52,243
|
4.50%, 5/20/2052
|
415,000
|
357,613
|
Synaptics, Inc. 4.00%, 6/15/2029 (a)
|
485,000
|
434,350
|
Texas Instruments, Inc. 5.05%, 5/18/2063
|
1,931,000
|
1,799,900
|
TSMC Arizona Corp. (Taiwan) 2.50%, 10/25/2031
|
960,000
|
808,224
|
TSMC Global Ltd. (Taiwan) 1.00%, 9/28/2027 (a)
|
380,000
|
331,431
|
|
|
10,637,184
|
Software — 0.3%
|
||
Black Knight InfoServ LLC 3.63%, 9/1/2028 (a)
|
220,000
|
204,851
|
Clarivate Science Holdings Corp. 3.88%, 7/1/2028 (a)
|
260,000
|
238,105
|
Elastic NV 4.13%, 7/15/2029 (a)
|
695,000
|
621,402
|
Intuit, Inc.
|
||
5.20%, 9/15/2033
|
541,000
|
540,078
|
5.50%, 9/15/2053
|
580,000
|
578,657
|
Microsoft Corp.
|
||
1.35%, 9/15/2030 (a)
|
230,000
|
187,470
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Software — continued
|
||
2.50%, 9/15/2050 (a)
|
300,000
|
185,395
|
NCR Voyix Corp.
|
||
5.00%, 10/1/2028 (a)
|
1,145,000
|
1,071,439
|
5.13%, 4/15/2029 (a)
|
270,000
|
250,700
|
Oracle Corp.
|
||
2.65%, 7/15/2026
|
583,000
|
550,542
|
2.30%, 3/25/2028
|
15,000
|
13,496
|
3.80%, 11/15/2037
|
1,150,000
|
945,589
|
3.65%, 3/25/2041
|
115,000
|
88,141
|
3.95%, 3/25/2051
|
375,000
|
276,258
|
4.38%, 5/15/2055
|
305,000
|
237,407
|
RingCentral, Inc. 8.50%, 8/15/2030 (a)
|
705,000
|
737,742
|
Roper Technologies, Inc. 1.75%, 2/15/2031
|
355,000
|
284,114
|
SS&C Technologies, Inc. 5.50%, 9/30/2027 (a)
|
980,000
|
959,772
|
VMware LLC 4.65%, 5/15/2027
|
285,000
|
279,533
|
Workday, Inc. 3.70%, 4/1/2029
|
172,000
|
160,994
|
|
|
8,411,685
|
Specialized REITs — 0.1%
|
||
American Tower Corp.
|
||
1.45%, 9/15/2026
|
85,000
|
77,707
|
5.20%, 2/15/2029
|
600,000
|
595,511
|
5.90%, 11/15/2033
|
100,000
|
102,186
|
2.95%, 1/15/2051
|
25,000
|
15,521
|
Crown Castle, Inc. 2.90%, 3/15/2027
|
270,000
|
252,509
|
Equinix, Inc. 3.90%, 4/15/2032
|
80,000
|
72,178
|
Extra Space Storage LP 2.20%, 10/15/2030
|
88,000
|
72,051
|
Iron Mountain, Inc.
|
||
4.88%, 9/15/2027 (a)
|
455,000
|
438,875
|
5.00%, 7/15/2028 (a)
|
610,000
|
578,831
|
Public Storage Operating Co.
|
||
2.25%, 11/9/2031
|
90,000
|
73,683
|
5.10%, 8/1/2033
|
304,000
|
299,890
|
SBA Communications Corp. 3.13%, 2/1/2029
|
930,000
|
818,227
|
|
|
3,397,169
|
Specialty Retail — 0.4%
|
||
Asbury Automotive Group, Inc.
|
||
4.50%, 3/1/2028
|
297,000
|
280,528
|
4.63%, 11/15/2029 (a)
|
625,000
|
575,011
|
AutoZone, Inc. 1.65%, 1/15/2031
|
500,000
|
398,362
|
Bath & Body Works, Inc.
|
||
5.25%, 2/1/2028
|
175,000
|
170,047
|
7.50%, 6/15/2029
|
923,000
|
947,642
|
6.88%, 11/1/2035
|
950,000
|
958,126
|
Gap, Inc. (The) 3.63%, 10/1/2029 (a)
|
430,000
|
372,120
|
Group 1 Automotive, Inc. 4.00%, 8/15/2028 (a)
|
483,000
|
440,940
|
Home Depot, Inc. (The)
|
||
1.88%, 9/15/2031
|
770,000
|
623,048
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Specialty Retail — continued
|
||
4.50%, 9/15/2032
|
540,000
|
522,739
|
4.25%, 4/1/2046
|
301,000
|
252,089
|
3.63%, 4/15/2052
|
805,000
|
590,736
|
Lithia Motors, Inc. 3.88%, 6/1/2029 (a)
|
480,000
|
427,520
|
Lowe's Cos., Inc.
|
||
1.70%, 10/15/2030
|
170,000
|
137,743
|
5.63%, 4/15/2053
|
1,350,000
|
1,306,235
|
O'Reilly Automotive, Inc.
|
||
1.75%, 3/15/2031
|
73,000
|
58,556
|
4.70%, 6/15/2032
|
90,000
|
86,258
|
Penske Automotive Group, Inc. 3.75%, 6/15/2029
|
769,000
|
683,872
|
PetSmart, Inc. 4.75%, 2/15/2028 (a)
|
1,350,000
|
1,253,751
|
Sonic Automotive, Inc. 4.63%, 11/15/2029 (a)
|
615,000
|
552,557
|
SRS Distribution, Inc. 4.63%, 7/1/2028 (a)
|
700,000
|
695,972
|
Staples, Inc.
|
||
10.75%, 4/15/2027 (a)
|
23,000
|
20,477
|
10.75%, 9/1/2029 (a) (k)
|
1,365,000
|
1,320,783
|
TJX Cos., Inc. (The) 3.88%, 4/15/2030
|
160,000
|
150,920
|
|
|
12,826,032
|
Technology Hardware, Storage & Peripherals — 0.2%
|
||
Apple, Inc.
|
||
4.38%, 5/13/2045
|
429,000
|
382,601
|
2.65%, 2/8/2051
|
1,140,000
|
716,934
|
2.70%, 8/5/2051
|
670,000
|
422,970
|
2.85%, 8/5/2061
|
750,000
|
460,714
|
Seagate HDD Cayman
|
||
4.09%, 6/1/2029
|
150,000
|
137,302
|
3.13%, 7/15/2029
|
335,000
|
286,909
|
8.25%, 12/15/2029 (a)
|
924,000
|
988,415
|
4.13%, 1/15/2031
|
114,000
|
100,058
|
8.50%, 7/15/2031 (a)
|
600,000
|
640,107
|
9.63%, 12/1/2032
|
140,000
|
158,585
|
Xerox Holdings Corp. 8.88%, 11/30/2029 (a)
|
480,000
|
464,920
|
|
|
4,759,515
|
Textiles, Apparel & Luxury Goods — 0.0% ^
|
||
Hanesbrands, Inc. 4.88%, 5/15/2026 (a)
|
130,000
|
126,112
|
William Carter Co. (The) 5.63%, 3/15/2027 (a)
|
205,000
|
201,314
|
|
|
327,426
|
Tobacco — 0.4%
|
||
Altria Group, Inc. 2.45%, 2/4/2032
|
480,000
|
385,783
|
BAT Capital Corp. (United Kingdom)
|
||
2.26%, 3/25/2028
|
1,045,000
|
932,234
|
4.39%, 8/15/2037
|
479,000
|
404,093
|
4.54%, 8/15/2047
|
443,000
|
344,076
|
Philip Morris International, Inc.
|
||
3.13%, 3/2/2028
|
459,000
|
426,725
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Corporate Bonds — continued
|
||
Tobacco — continued
|
||
5.75%, 11/17/2032
|
820,000
|
836,885
|
5.38%, 2/15/2033
|
1,545,000
|
1,532,251
|
5.63%, 9/7/2033
|
3,140,000
|
3,166,016
|
5.25%, 2/13/2034
|
2,970,000
|
2,908,945
|
4.38%, 11/15/2041
|
345,000
|
290,444
|
|
|
11,227,452
|
Trading Companies & Distributors — 0.3%
|
||
Aviation Capital Group LLC 4.13%, 8/1/2025 (a)
|
110,000
|
107,639
|
Beacon Roofing Supply, Inc. 6.50%, 8/1/2030 (a)
|
765,000
|
765,679
|
EquipmentShare.com, Inc. 9.00%, 5/15/2028 (a)
|
645,000
|
665,438
|
Herc Holdings, Inc. 5.50%, 7/15/2027 (a)
|
817,000
|
797,637
|
Imola Merger Corp. 4.75%, 5/15/2029 (a)
|
740,000
|
688,782
|
United Rentals North America, Inc.
|
||
4.88%, 1/15/2028
|
1,245,000
|
1,198,513
|
5.25%, 1/15/2030
|
1,195,000
|
1,147,148
|
WESCO Distribution, Inc.
|
||
7.25%, 6/15/2028 (a)
|
1,460,000
|
1,487,289
|
6.38%, 3/15/2029 (a)
|
1,015,000
|
1,018,715
|
6.63%, 3/15/2032 (a)
|
300,000
|
301,456
|
|
|
8,178,296
|
Transportation Infrastructure — 0.0% ^
|
||
Transurban Finance Co. Pty. Ltd. (Australia) 2.45%, 3/16/2031 (a)
|
212,000
|
176,162
|
Water Utilities — 0.0% ^
|
||
American Water Capital Corp.
|
||
5.15%, 3/1/2034
|
500,000
|
493,490
|
5.45%, 3/1/2054
|
420,000
|
405,441
|
|
|
898,931
|
Wireless Telecommunication Services — 0.3%
|
||
Altice France Holding SA (Luxembourg) 10.50%, 5/15/2027 (a)
|
200,000
|
73,998
|
Hughes Satellite Systems Corp.
|
||
5.25%, 8/1/2026
|
185,000
|
125,320
|
6.63%, 8/1/2026
|
215,000
|
87,613
|
Rogers Communications, Inc. (Canada) 4.55%, 3/15/2052
|
40,000
|
32,580
|
Sprint LLC 7.63%, 3/1/2026
|
71,000
|
72,879
|
T-Mobile USA, Inc.
|
||
4.80%, 7/15/2028
|
2,140,000
|
2,105,365
|
2.63%, 2/15/2029
|
1,493,000
|
1,326,223
|
3.38%, 4/15/2029
|
3,835,000
|
3,509,777
|
5.20%, 1/15/2033
|
750,000
|
738,191
|
5.05%, 7/15/2033
|
355,000
|
345,657
|
5.65%, 1/15/2053
|
500,000
|
491,956
|
United States Cellular Corp. 6.70%, 12/15/2033
|
662,000
|
696,805
|
|
|
9,606,364
|
Total Corporate Bonds
(Cost $898,989,592)
|
|
895,868,612
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Mortgage-Backed Securities — 27.4%
|
||
Cumberland 3PK , 5.33%, 5/1/2033 ‡ (k)
|
10,000,000
|
10,191,741
|
FHLMC Gold Pools, 30 Year Pool # G60855, 4.50%, 12/1/2045
|
61,350
|
58,982
|
FHLMC Gold Pools, Other
|
|
|
Pool # WN1158, 1.80%, 11/1/2028
|
4,000,000
|
3,493,645
|
Pool # WN2203, 3.75%, 8/1/2032
|
1,200,000
|
1,101,796
|
Pool # WN3233, 3.19%, 7/1/2033
|
4,000,000
|
3,533,291
|
Pool # N31271, 4.50%, 1/1/2036
|
12,506
|
11,895
|
Pool # RE0003, 4.00%, 7/1/2049
|
2,174,365
|
2,009,945
|
Pool # RE6055, 2.50%, 8/1/2050
|
13,466,254
|
10,677,916
|
FHLMC UMBS, 20 Year Pool # SC0310, 2.00%, 8/1/2042
|
888,862
|
736,542
|
FHLMC UMBS, 30 Year
|
|
|
Pool # SI2041, 3.00%, 10/1/2049
|
13,756,814
|
11,738,066
|
Pool # QA5045, 4.00%, 11/1/2049
|
42,668
|
39,286
|
Pool # RA1983, 3.00%, 2/1/2050
|
4,023,461
|
3,441,259
|
Pool # QB1397, 2.50%, 7/1/2050
|
2,106,646
|
1,704,898
|
Pool # SD8089, 2.50%, 7/1/2050
|
4,189,587
|
3,417,378
|
Pool # QB1686, 2.50%, 8/1/2050
|
3,364,930
|
2,751,284
|
Pool # QB2772, 2.50%, 8/1/2050
|
2,192,699
|
1,791,518
|
Pool # SI2064, 3.00%, 8/1/2050
|
4,616,946
|
3,934,597
|
Pool # RA5422, 3.00%, 6/1/2051
|
8,212,705
|
6,960,432
|
Pool # QC7968, 2.50%, 10/1/2051
|
3,993,706
|
3,260,008
|
Pool # RA6228, 2.50%, 11/1/2051
|
4,922,566
|
4,017,142
|
Pool # RA6222, 3.00%, 11/1/2051
|
3,300,551
|
2,782,094
|
Pool # SD2968, 2.00%, 12/1/2051 (k)
|
6,397,637
|
4,983,160
|
Pool # RA6359, 2.50%, 12/1/2051
|
4,737,349
|
3,837,016
|
Pool # RA6617, 2.50%, 1/1/2052
|
6,810,008
|
5,550,123
|
Pool # RA6815, 2.50%, 2/1/2052
|
1,481,486
|
1,209,772
|
Pool # SD3770, 2.50%, 3/1/2052
|
2,219,348
|
1,798,580
|
Pool # SD2301, 3.50%, 3/1/2052
|
1,297,325
|
1,146,138
|
Pool # SD7554, 2.50%, 4/1/2052
|
6,849,058
|
5,628,868
|
Pool # SD1464, 3.00%, 5/1/2052
|
988,666
|
834,269
|
Pool # SD3781, 4.00%, 7/1/2052
|
5,168,144
|
4,699,982
|
Pool # SD1303, 4.50%, 7/1/2052
|
1,463,664
|
1,372,065
|
Pool # SD4181, 3.50%, 8/1/2052
|
5,694,936
|
5,028,644
|
Pool # QE8091, 4.00%, 8/1/2052
|
1,655,924
|
1,505,761
|
Pool # SD1725, 4.00%, 10/1/2052
|
1,843,083
|
1,675,660
|
Pool # QF3433, 5.00%, 11/1/2052
|
1,930,248
|
1,869,991
|
Pool # RA8766, 5.00%, 3/1/2053
|
1,872,717
|
1,803,900
|
Pool # SD3567, 4.50%, 5/1/2053
|
3,841,812
|
3,603,023
|
Pool # RA9669, 5.00%, 8/1/2053
|
3,696,057
|
3,557,747
|
FNMA / FHLMC UMBS, Single Family, 30 Year
|
|
|
TBA, 4.00%, 6/25/2054 (k)
|
1,825,000
|
1,656,101
|
TBA, 5.00%, 6/25/2054 (k)
|
35,000,000
|
33,682,769
|
FNMA UMBS, 15 Year Pool # FM8445, 3.00%, 4/1/2033
|
3,353,597
|
3,236,269
|
FNMA UMBS, 20 Year Pool # MA3004, 4.00%, 5/1/2037
|
294,745
|
281,126
|
FNMA UMBS, 30 Year
|
|
|
Pool # AL2374, 4.00%, 12/1/2041
|
86,386
|
80,885
|
Pool # AL4244, 4.00%, 7/1/2042
|
98,930
|
92,897
|
Pool # BM1164, 3.50%, 12/1/2045
|
71,745
|
64,337
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Mortgage-Backed Securities — continued
|
||
Pool # MA3073, 4.50%, 7/1/2047
|
16,674
|
15,939
|
Pool # BK4769, 5.00%, 8/1/2048
|
294,964
|
290,119
|
Pool # BN5013, 5.00%, 1/1/2049
|
109,255
|
107,048
|
Pool # BO1073, 4.50%, 6/1/2049
|
13,003
|
12,272
|
Pool # BO3039, 3.00%, 7/1/2049
|
156,605
|
132,013
|
Pool # BN6475, 4.00%, 7/1/2049
|
7,603
|
7,003
|
Pool # BO2562, 4.00%, 7/1/2049
|
68,605
|
63,285
|
Pool # BO4519, 4.00%, 8/1/2049
|
3,420
|
3,141
|
Pool # BO2203, 3.50%, 9/1/2049
|
218,923
|
195,114
|
Pool # FS1186, 3.50%, 1/1/2050
|
1,595,466
|
1,405,409
|
Pool # FM3365, 3.00%, 3/1/2050
|
2,750,604
|
2,352,063
|
Pool # CA5702, 2.50%, 5/1/2050
|
1,250,395
|
1,028,513
|
Pool # CA6587, 2.00%, 8/1/2050
|
1,999,979
|
1,563,937
|
Pool # CA6989, 2.50%, 9/1/2050
|
4,483,420
|
3,695,364
|
Pool # FM5179, 2.00%, 12/1/2050
|
14,295,435
|
11,178,588
|
Pool # BQ4516, 2.00%, 2/1/2051
|
7,869,884
|
6,111,614
|
Pool # CB0397, 3.00%, 5/1/2051
|
1,001,727
|
851,189
|
Pool # FS5384, 2.50%, 6/1/2051
|
5,655,023
|
4,645,439
|
Pool # BT2415, 2.50%, 7/1/2051 (k)
|
6,523,026
|
5,292,329
|
Pool # FM7957, 2.50%, 7/1/2051
|
14,822,895
|
12,115,150
|
Pool # CB1401, 3.00%, 8/1/2051
|
5,537,050
|
4,717,010
|
Pool # CB1406, 3.00%, 8/1/2051
|
13,973,726
|
11,873,672
|
Pool # CB1411, 3.00%, 8/1/2051
|
3,737,057
|
3,175,473
|
Pool # BU0070, 2.50%, 10/1/2051
|
882,599
|
715,209
|
Pool # FM9198, 2.50%, 11/1/2051
|
6,113,805
|
5,015,168
|
Pool # FS5389, 2.50%, 11/1/2051
|
2,702,713
|
2,208,058
|
Pool # FS0009, 3.50%, 11/1/2051
|
3,004,804
|
2,647,456
|
Pool # FM9961, 3.00%, 12/1/2051
|
451,036
|
379,757
|
Pool # MA4494, 3.00%, 12/1/2051
|
3,925,232
|
3,319,530
|
Pool # FS4108, 4.00%, 12/1/2051
|
3,727,257
|
3,394,837
|
Pool # CB2637, 2.50%, 1/1/2052
|
446,398
|
362,377
|
Pool # FS0374, 2.50%, 1/1/2052 (k)
|
17,676,676
|
14,460,808
|
Pool # BV0273, 3.00%, 1/1/2052
|
273,826
|
230,811
|
Pool # CB2670, 3.00%, 1/1/2052
|
416,638
|
351,177
|
Pool # CB2869, 2.50%, 2/1/2052
|
8,826,646
|
7,137,523
|
Pool # MA4548, 2.50%, 2/1/2052
|
6,241,664
|
5,055,478
|
Pool # BV3930, 3.00%, 2/1/2052
|
537,879
|
453,493
|
Pool # BV0295, 3.50%, 2/1/2052
|
557,205
|
498,065
|
Pool # FS7119, 2.50%, 3/1/2052
|
6,868,749
|
5,589,467
|
Pool # FS7150, 2.50%, 3/1/2052
|
8,846,751
|
7,227,570
|
Pool # FS7942, 2.50%, 3/1/2052
|
8,500,000
|
6,965,017
|
Pool # FS0957, 3.00%, 3/1/2052
|
259,814
|
218,857
|
Pool # FS1954, 3.00%, 3/1/2052
|
1,689,912
|
1,453,506
|
Pool # FS4393, 3.00%, 3/1/2052
|
3,160,848
|
2,663,319
|
Pool # CB3132, 3.50%, 3/1/2052
|
2,825,785
|
2,478,271
|
Pool # FS1538, 3.00%, 4/1/2052
|
8,544,086
|
7,261,331
|
Pool # CB3378, 4.00%, 4/1/2052
|
3,156,419
|
2,869,841
|
Pool # CB3384, 4.00%, 4/1/2052
|
7,731,678
|
7,030,114
|
Pool # BW6017, 3.50%, 5/1/2052
|
580,308
|
513,792
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Mortgage-Backed Securities — continued
|
||
Pool # CB3608, 3.50%, 5/1/2052
|
4,741,105
|
4,160,596
|
Pool # FS2588, 4.50%, 8/1/2052
|
1,552,844
|
1,455,723
|
Pool # FS3536, 4.50%, 8/1/2052
|
1,840,145
|
1,723,917
|
Pool # CB4830, 4.50%, 9/1/2052
|
1,391,393
|
1,304,740
|
Pool # FS3829, 4.50%, 9/1/2052
|
1,315,823
|
1,233,527
|
Pool # CB4628, 5.00%, 9/1/2052
|
2,196,641
|
2,116,375
|
Pool # FS2982, 5.00%, 9/1/2052
|
2,818,895
|
2,719,012
|
Pool # CB4837, 5.00%, 10/1/2052
|
1,464,839
|
1,421,154
|
Pool # BX0627, 5.00%, 11/1/2052
|
1,837,910
|
1,779,436
|
Pool # CB5413, 4.00%, 12/1/2052
|
1,943,668
|
1,769,113
|
Pool # CB5428, 4.50%, 12/1/2052
|
1,950,871
|
1,834,296
|
Pool # BX3808, 5.00%, 3/1/2053
|
948,760
|
919,726
|
Pool # BX3811, 5.00%, 3/1/2053
|
1,564,235
|
1,508,635
|
Pool # CB5896, 5.00%, 3/1/2053
|
1,803,606
|
1,740,928
|
Pool # BX3824, 5.50%, 3/1/2053
|
340,786
|
336,046
|
Pool # CB5907, 5.50%, 3/1/2053
|
1,073,385
|
1,062,683
|
Pool # BY4714, 5.00%, 6/1/2053
|
3,137,962
|
3,020,652
|
Pool # BY4776, 5.00%, 7/1/2053
|
2,949,040
|
2,838,655
|
Pool # BY4736, 5.50%, 7/1/2053
|
2,788,276
|
2,749,494
|
Pool # BY7218, 5.00%, 9/1/2053
|
1,545,888
|
1,487,958
|
Pool # DB3630, 5.50%, 6/1/2054
|
1,985,000
|
1,953,015
|
FNMA, Other
|
|
|
Pool # AM8846, 2.68%, 5/1/2025
|
136,003
|
132,301
|
Pool # AM0414, 2.87%, 9/1/2027
|
390,746
|
365,940
|
Pool # AN7560, 2.90%, 12/1/2027
|
178,650
|
166,685
|
Pool # BS8981, 5.04%, 2/1/2029
|
3,822,000
|
3,841,502
|
Pool # BL2367, 3.48%, 5/1/2029
|
524,649
|
492,174
|
Pool # BS6079, 3.52%, 7/1/2029
|
2,500,000
|
2,354,718
|
Pool # AN6730, 3.01%, 9/1/2029
|
1,984,495
|
1,820,355
|
Pool # BS6621, 3.50%, 9/1/2029
|
4,000,000
|
3,737,357
|
Pool # BS7011, 4.81%, 9/1/2029
|
2,962,206
|
2,934,770
|
Pool # BS8075, 5.00%, 9/1/2029
|
1,500,000
|
1,507,115
|
Pool # BS1577, 1.82%, 2/1/2030
|
841,620
|
717,395
|
Pool # BS6827, 4.19%, 5/1/2030
|
902,494
|
870,418
|
Pool # BS4878, 2.44%, 6/1/2030
|
583,476
|
511,207
|
Pool # BS8846, 4.09%, 7/1/2030
|
2,500,000
|
2,395,228
|
Pool # BS9022, 4.46%, 7/1/2030
|
2,640,000
|
2,580,747
|
Pool # 387898, 3.71%, 8/1/2030
|
729,914
|
681,856
|
Pool # BS6088, 4.04%, 8/1/2030
|
4,615,000
|
4,378,981
|
Pool # BS5171, 2.51%, 10/1/2030
|
1,925,000
|
1,678,367
|
Pool # BS5985, 3.99%, 11/1/2030
|
423,025
|
402,074
|
Pool # BS8033, 4.43%, 11/1/2030
|
3,090,000
|
3,012,348
|
Pool # BS8306, 4.52%, 12/1/2030
|
2,970,027
|
2,909,707
|
Pool # BS9296, 4.80%, 12/1/2030
|
2,505,000
|
2,491,929
|
Pool # BL9645, 1.50%, 1/1/2031
|
100,000
|
80,824
|
Pool # BL9627, 1.56%, 1/1/2031
|
500,000
|
405,828
|
Pool # BS1731, 1.82%, 1/1/2031
|
952,942
|
795,106
|
Pool # BS1304, 1.54%, 3/1/2031
|
1,500,000
|
1,206,691
|
Pool # BS2422, 1.67%, 7/1/2031
|
1,200,000
|
967,811
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Mortgage-Backed Securities — continued
|
||
Pool # BS2898, 1.56%, 9/1/2031
|
1,000,000
|
794,465
|
Pool # BS4116, 2.28%, 10/1/2031
|
762,253
|
640,298
|
Pool # BS3612, 1.93%, 11/1/2031
|
1,500,000
|
1,217,512
|
Pool # BM6857, 1.83%, 12/1/2031 (i)
|
23,434,365
|
19,019,417
|
Pool # BS4505, 1.93%, 1/1/2032
|
8,000,000
|
6,536,720
|
Pool # BS4563, 2.01%, 1/1/2032
|
1,100,000
|
900,554
|
Pool # BS3464, 2.03%, 1/1/2032
|
1,112,000
|
912,078
|
Pool # BS4709, 2.22%, 2/1/2032
|
2,000,000
|
1,643,814
|
Pool # BM7037, 1.75%, 3/1/2032 (i)
|
1,098,839
|
884,311
|
Pool # BS4654, 2.39%, 3/1/2032
|
1,438,669
|
1,216,725
|
Pool # BL6367, 1.82%, 4/1/2032
|
323,287
|
263,099
|
Pool # BS5130, 2.55%, 4/1/2032
|
481,240
|
412,876
|
Pool # BS5463, 3.34%, 5/1/2032
|
1,735,064
|
1,565,324
|
Pool # BS5597, 3.59%, 5/1/2032
|
1,175,000
|
1,068,032
|
Pool # BS5195, 2.80%, 6/1/2032
|
2,040,460
|
1,756,099
|
Pool # BS5875, 3.66%, 6/1/2032
|
2,100,599
|
1,920,260
|
Pool # BS6301, 3.67%, 8/1/2032
|
945,000
|
864,447
|
Pool # BS6385, 3.89%, 8/1/2032
|
2,433,047
|
2,273,597
|
Pool # BS6448, 3.93%, 8/1/2032
|
1,550,000
|
1,446,861
|
Pool # BS6502, 3.41%, 9/1/2032
|
2,942,926
|
2,661,450
|
Pool # BS6335, 3.75%, 9/1/2032
|
1,030,000
|
953,213
|
Pool # BS6339, 3.80%, 9/1/2032
|
1,056,986
|
975,506
|
Pool # BS6347, 4.03%, 9/1/2032
|
350,000
|
324,273
|
Pool # BS6417, 3.83%, 10/1/2032
|
2,596,217
|
2,405,119
|
Pool # BS6951, 3.90%, 10/1/2032
|
13,290,000
|
12,327,819
|
Pool # BS6759, 3.97%, 10/1/2032
|
885,983
|
831,619
|
Pool # BL8708, 1.40%, 11/1/2032
|
200,000
|
152,387
|
Pool # BS6995, 4.18%, 11/1/2032
|
1,015,000
|
962,707
|
Pool # BS6849, 4.23%, 11/1/2032
|
783,167
|
747,711
|
Pool # BS6815, 4.71%, 11/1/2032
|
1,283,000
|
1,263,332
|
Pool # BS6994, 4.85%, 11/1/2032
|
661,000
|
657,530
|
Pool # BS7203, 4.98%, 11/1/2032
|
1,249,000
|
1,253,303
|
Pool # BS7095, 4.80%, 12/1/2032
|
1,023,597
|
1,014,634
|
Pool # BS7663, 4.71%, 1/1/2033
|
1,992,312
|
1,963,326
|
Pool # AN8257, 3.26%, 2/1/2033
|
945,007
|
842,374
|
Pool # BS7671, 4.76%, 2/1/2033
|
2,177,000
|
2,151,832
|
Pool # BS8334, 4.71%, 3/1/2033
|
2,368,369
|
2,325,862
|
Pool # BS1636, 2.25%, 4/1/2033
|
1,138,043
|
928,280
|
Pool # BS7740, 4.11%, 4/1/2033
|
2,000,000
|
1,879,088
|
Pool # BS8277, 4.39%, 4/1/2033
|
3,014,000
|
2,897,733
|
Pool # BS8157, 4.51%, 4/1/2033
|
2,750,000
|
2,667,759
|
Pool # BS8256, 4.53%, 4/1/2033
|
2,000,000
|
1,937,516
|
Pool # BS8055, 4.71%, 4/1/2033
|
1,500,000
|
1,477,350
|
Pool # BS8250, 4.51%, 5/1/2033
|
1,742,954
|
1,694,754
|
Pool # BS8152, 4.55%, 5/1/2033
|
2,000,000
|
1,945,685
|
Pool # BS8703, 4.48%, 6/1/2033
|
3,000,000
|
2,903,962
|
Pool # AN6000, 3.21%, 7/1/2033
|
949,371
|
837,430
|
Pool # AN9725, 3.76%, 7/1/2033
|
99,597
|
91,842
|
Pool # BS8883, 4.58%, 7/1/2033
|
2,558,000
|
2,493,488
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Mortgage-Backed Securities — continued
|
||
Pool # BS9146, 4.35%, 8/1/2033
|
2,000,000
|
1,914,979
|
Pool # BS6038, 3.98%, 9/1/2033
|
2,085,000
|
1,918,733
|
Pool # BS8897, 4.55%, 9/1/2033
|
3,115,000
|
3,029,385
|
Pool # BS9616, 4.79%, 9/1/2033
|
1,203,000
|
1,183,427
|
Pool # BS9470, 4.45%, 10/1/2033
|
3,000,000
|
2,889,247
|
Pool # BS9182, 4.52%, 10/1/2033
|
1,216,000
|
1,177,528
|
Pool # BS9310, 4.64%, 10/1/2033
|
1,718,898
|
1,680,071
|
Pool # BS4197, 2.14%, 12/1/2033
|
496,069
|
400,486
|
Pool # BZ0419, 4.25%, 1/1/2034
|
5,000,000
|
4,738,318
|
Pool # BZ0410, 4.52%, 1/1/2034
|
10,440,000
|
10,109,463
|
Pool # BZ0430, 4.32%, 2/1/2034
|
3,625,000
|
3,451,866
|
Pool # BZ0420, 4.60%, 2/1/2034
|
20,000,000
|
19,483,442
|
Pool # BZ0401, 4.52%, 3/1/2034
|
15,000,000
|
14,517,078
|
Pool # BL3625, 2.89%, 9/1/2034
|
2,107,000
|
1,768,227
|
Pool # BL3756, 2.92%, 9/1/2034
|
5,000,000
|
4,240,793
|
Pool # BS6427, 3.75%, 9/1/2034
|
1,010,000
|
913,855
|
Pool # BL3772, 2.92%, 10/1/2034
|
697,365
|
595,819
|
Pool # BS5018, 2.88%, 10/1/2035
|
750,000
|
609,700
|
Pool # AN7345, 3.21%, 11/1/2037
|
612,667
|
525,039
|
Pool # MA1072, 3.50%, 5/1/2042
|
9,092
|
8,290
|
Pool # BF0533, 2.50%, 11/1/2050
|
1,143,054
|
933,586
|
Pool # BF0230, 5.50%, 1/1/2058
|
367,852
|
373,424
|
Pool # BF0300, 4.00%, 8/1/2058
|
5,369,510
|
4,927,115
|
Pool # BF0400, 4.00%, 8/1/2059
|
597,897
|
541,993
|
Pool # BF0497, 3.00%, 7/1/2060
|
65,291
|
53,309
|
Pool # BF0520, 3.00%, 1/1/2061
|
2,986,791
|
2,500,596
|
Pool # BF0560, 2.50%, 9/1/2061
|
825,071
|
654,476
|
Pool # BF0562, 3.50%, 9/1/2061
|
787,500
|
678,875
|
Pool # BF0583, 4.00%, 12/1/2061
|
838,005
|
751,243
|
Pool # BF0586, 5.00%, 12/1/2061
|
810,123
|
783,492
|
Pool # BF0617, 2.50%, 3/1/2062
|
3,054,974
|
2,393,004
|
Pool # BF0759, 2.50%, 5/1/2062 (k)
|
7,690,367
|
6,021,587
|
Pool # BF0677, 4.00%, 9/1/2062
|
2,895,876
|
2,596,088
|
FNMA/FHLMC UMBS, Single Family, 30 Year
|
|
|
TBA, 2.50%, 6/25/2054 (k)
|
86,840,000
|
70,110,169
|
TBA, 3.00%, 6/25/2054 (k)
|
16,000,000
|
13,452,345
|
TBA, 5.50%, 6/25/2054 (k)
|
33,000,000
|
32,464,702
|
TBA, 6.00%, 6/25/2054 (k)
|
15,000,000
|
15,020,601
|
GNMA I, 30 Year
|
|
|
Pool # 783473, 3.50%, 11/15/2041
|
4,219,594
|
3,871,583
|
Pool # CO1928, 5.50%, 10/15/2052
|
1,253,733
|
1,300,974
|
Pool # CR2369, 6.00%, 1/15/2053
|
1,785,325
|
1,895,659
|
GNMA II
|
|
|
Pool # CH4945, ARM, 6.50%, 10/20/2071 (i)
|
6,373,161
|
6,545,238
|
Pool # CE9366, ARM, 6.51%, 10/20/2071 (i)
|
5,034,768
|
5,172,080
|
Pool # CH7776, ARM, 6.59%, 10/20/2071 (i)
|
6,044,653
|
6,238,390
|
Pool # CJ7125, ARM, 6.63%, 10/20/2071 (i)
|
475,265
|
490,939
|
Pool # CJ7141, ARM, 6.57%, 11/20/2071 (i)
|
443,677
|
457,485
|
Pool # CE9384, ARM, 6.64%, 11/20/2071 (i)
|
775,935
|
802,736
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Mortgage-Backed Securities — continued
|
||
Pool # CE5557, ARM, 6.75%, 11/20/2071 (i)
|
106,186
|
110,378
|
Pool # CK7234, ARM, 6.56%, 2/20/2072 (i)
|
6,324,125
|
6,521,811
|
Pool # CK2792, ARM, 6.74%, 3/20/2072 (i)
|
840,407
|
875,460
|
Pool # CO0363, ARM, 6.89%, 7/20/2072 (i)
|
787,871
|
830,130
|
GNMA II, 30 Year
|
|
|
Pool # AJ9020, 4.50%, 10/20/2044
|
32,447
|
30,783
|
Pool # BB3525, 4.00%, 9/20/2047
|
23,302
|
21,556
|
Pool # AY2413, 4.25%, 10/20/2048
|
1,475,302
|
1,380,083
|
Pool # BJ9820, 4.20%, 1/20/2049
|
1,155,140
|
1,062,105
|
Pool # BM2418, 4.00%, 8/20/2049
|
14,079
|
13,194
|
Pool # BN7049, 4.50%, 8/20/2049
|
128,066
|
122,433
|
Pool # BP7160, 4.50%, 9/20/2049
|
84,299
|
82,659
|
Pool # CH1162, 3.50%, 6/20/2050
|
217,295
|
201,266
|
Pool # CB8492, 3.50%, 1/20/2051
|
1,612,925
|
1,509,154
|
Pool # CB8531, 3.50%, 2/20/2051
|
709,002
|
650,987
|
Pool # CC9803, 4.00%, 4/20/2051
|
212,509
|
196,424
|
Pool # MA7534, 2.50%, 8/20/2051
|
4,117,308
|
3,432,656
|
Pool # CH1291, 3.50%, 9/20/2051
|
893,233
|
802,814
|
Pool # CH1293, 3.50%, 9/20/2051
|
2,548,492
|
2,336,378
|
Pool # CH1292, 3.50%, 10/20/2051
|
1,027,172
|
930,480
|
Pool # MA7705, 2.50%, 11/20/2051
|
5,679,909
|
4,735,263
|
Pool # CH7863, 3.50%, 12/20/2051
|
651,435
|
584,527
|
Pool # CI2080, 3.50%, 12/20/2051
|
779,874
|
686,489
|
Pool # CH0876, 3.00%, 1/20/2052
|
95,643
|
82,634
|
Pool # CH0877, 3.00%, 1/20/2052
|
265,620
|
229,490
|
Pool # CH0878, 3.00%, 1/20/2052
|
283,401
|
244,849
|
Pool # CJ3916, 3.00%, 1/20/2052
|
724,461
|
641,479
|
Pool # CK2608, 3.00%, 1/20/2052
|
437,076
|
378,362
|
Pool # CK4909, 3.00%, 1/20/2052
|
95,277
|
82,316
|
Pool # CK4916, 3.00%, 1/20/2052
|
192,260
|
166,107
|
Pool # CJ8184, 3.50%, 1/20/2052
|
599,026
|
534,616
|
Pool # CK4918, 3.50%, 1/20/2052
|
70,071
|
62,819
|
Pool # CK7137, 4.00%, 1/20/2052
|
454,779
|
412,183
|
Pool # CK2667, 3.00%, 2/20/2052
|
581,588
|
502,386
|
Pool # CK2672, 3.50%, 2/20/2052
|
574,361
|
514,553
|
Pool # CM2154, 3.00%, 3/20/2052
|
741,374
|
639,018
|
Pool # CM2278, 3.50%, 4/20/2052
|
818,516
|
733,175
|
Pool # CO4826, 5.00%, 6/20/2052
|
547,195
|
531,097
|
Pool # CO4847, 5.00%, 7/20/2052
|
832,571
|
808,076
|
Pool # MA8200, 4.00%, 8/20/2052
|
1,791,252
|
1,646,679
|
Pool # CO1924, 4.50%, 10/20/2052
|
1,177,319
|
1,168,399
|
Pool # CP8517, 4.50%, 10/20/2052
|
975,044
|
909,311
|
Pool # CO1925, 5.00%, 10/20/2052
|
977,252
|
989,498
|
Pool # CO8957, 5.00%, 12/20/2052
|
6,760,219
|
6,510,890
|
Pool # CS4305, 5.50%, 6/20/2053
|
2,422,889
|
2,403,361
|
Pool # CV0175, 6.50%, 6/20/2053
|
991,917
|
1,023,878
|
Pool # CS4391, 5.50%, 7/20/2053
|
2,892,054
|
2,868,745
|
Pool # CW7288, 6.50%, 9/20/2053
|
1,113,382
|
1,140,357
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Mortgage-Backed Securities — continued
|
||
GNMA II, Single Family, 30 Year
|
|
|
TBA, 5.00%, 6/15/2054 (k)
|
31,025,000
|
30,110,452
|
TBA, 5.50%, 6/15/2054 (k)
|
11,000,000
|
10,911,182
|
Total Mortgage-Backed Securities
(Cost $875,181,110)
|
|
861,216,179
|
Asset-Backed Securities — 15.7%
|
||
ACC Trust Series 2022-1, Class C, 3.24%, 10/20/2025 (a)
|
1,000,000
|
571,855
|
ACHV ABS TRUST
|
|
|
Series 2023-1PL, Class C, 7.42%, 3/18/2030 (a)
|
1,977,000
|
1,988,785
|
Series 2023-2PL, Class C, 7.27%, 5/20/2030 (a)
|
2,900,000
|
2,913,953
|
Series 2023-3PL, Class C, 7.35%, 8/19/2030 (a)
|
1,750,000
|
1,765,940
|
ACM Auto Trust Series 2023-2A, Class A, 7.97%, 6/20/2030 (a)
|
1,706,645
|
1,716,932
|
ACRE Commercial Mortgage Ltd. Series 2021-FL4, Class B, 6.83%, 12/18/2037 (a) (i)
|
250,000
|
243,224
|
Air Canada Pass-Through Trust (Canada) Series 2017-1, Class AA, 3.30%, 1/15/2030 (a)
|
359,200
|
324,506
|
Ajax Mortgage Loan Trust Series 2021-G, Class A, 1.87%, 6/25/2061 (a) (i)
|
4,857,012
|
4,653,202
|
American Airlines Pass-Through Trust Series 2015-2, Class A, 4.00%, 9/22/2027
|
167,674
|
158,108
|
American Credit Acceptance Receivables Trust
|
|
|
Series 2023-3, Class A, 6.00%, 3/12/2027 (a)
|
1,003,739
|
1,004,200
|
Series 2022-2, Class E, 6.57%, 6/13/2028 (a)
|
300,000
|
295,803
|
Series 2022-3, Class D, 5.83%, 10/13/2028 (a)
|
506,000
|
504,724
|
Series 2023-3, Class D, 6.82%, 10/12/2029 (a)
|
1,955,000
|
1,973,668
|
American Homes 4 Rent Trust
|
|
|
Series 2014-SFR3, Class B, 4.20%, 12/17/2036 (a)
|
125,000
|
123,693
|
Series 2015-SFR1, Class E, 5.64%, 4/17/2052 (a)
|
150,000
|
148,771
|
Series 2015-SFR1, Class F, 5.89%, 4/17/2052 (a)
|
400,000
|
397,019
|
Series 2015-SFR2, Class A, 3.73%, 10/17/2052 (a)
|
87,314
|
85,031
|
AMSR Trust
|
|
|
Series 2020-SFR1, Class E, 3.22%, 4/17/2037 (a)
|
500,000
|
484,497
|
Series 2020-SFR2, Class E2, 4.28%, 7/17/2037 (a)
|
675,000
|
653,503
|
Series 2020-SFR3, Class E1, 2.56%, 9/17/2037 (a)
|
2,082,000
|
1,977,766
|
Series 2020-SFR3, Class E2, 2.76%, 9/17/2037 (a)
|
350,000
|
332,696
|
Series 2020-SFR4, Class A, 1.36%, 11/17/2037 (a)
|
1,500,000
|
1,411,439
|
Series 2020-SFR5, Class D, 2.18%, 11/17/2037 (a)
|
3,000,000
|
2,823,416
|
Series 2020-SFR4, Class E2, 2.46%, 11/17/2037 (a)
|
425,000
|
400,055
|
Series 2020-SFR5, Class F, 2.69%, 11/17/2037 (a)
|
1,500,000
|
1,414,235
|
Series 2021-SFR3, Class C, 1.80%, 10/17/2038 (a)
|
1,900,000
|
1,720,957
|
Series 2022-SFR1, Class F, 6.02%, 3/17/2039 (a)
|
750,000
|
688,705
|
Series 2022-SFR3, Class D, 4.00%, 10/17/2039 (a)
|
2,120,000
|
1,964,582
|
Series 2022-SFR3, Class E1, 4.00%, 10/17/2039 (a)
|
1,400,000
|
1,273,768
|
Series 2022-SFR3, Class E2, 4.00%, 10/17/2039 (a)
|
3,504,000
|
3,159,015
|
Series 2023-SFR1, Class E2, 4.00%, 4/17/2040 (a)
|
2,505,000
|
2,206,938
|
Series 2023-SFR1, Class F, 4.00%, 4/17/2040 (a)
|
7,750,000
|
6,594,515
|
Series 2023-SFR2, Class E1, 3.95%, 6/17/2040 (a)
|
3,300,000
|
2,888,133
|
Aqua Finance Trust
|
|
|
Series 2019-A, Class B, 3.47%, 7/16/2040 (a)
|
165,649
|
154,589
|
Series 2019-A, Class D, 6.07%, 7/16/2040 (a)
|
3,376,945
|
3,089,290
|
Avis Budget Rental Car Funding AESOP LLC
|
|
|
Series 2020-1A, Class D, 3.34%, 8/20/2026 (a)
|
7,000,000
|
6,691,411
|
Series 2024-2A, Class C, 6.01%, 10/20/2028 (a)
|
1,200,000
|
1,185,834
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Asset-Backed Securities — continued
|
||
Bastion Funding I LLC Series 2023-1A, Class A2, 7.12%, 4/25/2038 ‡ (a)
|
2,320,894
|
2,286,060
|
Bridge Trust Series 2022-SFR1, Class A, 3.40%, 11/17/2037 (a)
|
7,370,000
|
7,079,904
|
Bridgecrest Lending Auto Securitization Trust Series 2023-1, Class C, 7.10%, 8/15/2029
|
5,000,000
|
5,119,695
|
British Airways Pass-Through Trust (United Kingdom) Series 2013-1, Class A, 4.63%,
6/20/2024 (a)
|
34,816
|
34,791
|
Business Jet Securities LLC
|
|
|
Series 2021-1A, Class A, 2.16%, 4/15/2036 ‡ (a)
|
1,982,019
|
1,863,662
|
Series 2021-1A, Class B, 2.92%, 4/15/2036 ‡ (a)
|
316,539
|
297,695
|
Series 2021-1A, Class C, 5.07%, 4/15/2036 ‡ (a)
|
113,326
|
109,933
|
BXG Receivables Note Trust
|
|
|
Series 2020-A, Class C, 4.22%, 2/28/2036 (a)
|
1,863,049
|
1,744,227
|
Series 2022-A, Class A, 4.12%, 9/28/2037 (a)
|
3,960,844
|
3,822,290
|
Series 2023-A, Class C, 7.38%, 11/15/2038 (a)
|
2,023,564
|
1,994,455
|
CarMax Auto Owner Trust Series 2023-4, Class A3, 6.00%, 7/17/2028
|
725,000
|
732,462
|
Carvana Auto Receivables Trust
|
|
|
Series 2022-P1, Class A4, 3.52%, 2/10/2028
|
3,500,000
|
3,368,870
|
Series 2023-P2, Class A4, 5.38%, 3/12/2029 (a)
|
2,000,000
|
1,989,415
|
Series 2023-P3, Class A4, 5.71%, 7/10/2029 (a)
|
709,000
|
714,899
|
Series 2023-N3, Class C, 6.55%, 12/10/2029 (a)
|
3,489,000
|
3,534,354
|
Cascade MH Asset Trust
|
|
|
Series 2019-MH1, Class B, 5.00%, 11/25/2044 (a) (i)
|
401,843
|
356,699
|
Series 2021-MH1, Class A1, 1.75%, 2/25/2046 (a)
|
760,616
|
651,754
|
Series 2022-MH1, Class M, 4.25%, 8/25/2054 (a) (j)
|
919,802
|
723,532
|
Continental Finance Credit Card ABS Master Trust Series 2022-A, Class A, 6.19%, 10/15/2030 (a)
|
825,000
|
820,065
|
CoreVest American Finance Trust
|
|
|
Series 2019-1, Class E, 5.52%, 3/15/2052 (a) (i)
|
551,000
|
516,428
|
Series 2019-2, Class E, 5.20%, 6/15/2052 (a) (i)
|
1,043,000
|
912,746
|
Series 2019-3, Class E, 4.72%, 10/15/2052 (a) (i)
|
570,000
|
486,499
|
CPS Auto Receivables Trust
|
|
|
Series 2022-D, Class D, 8.73%, 1/16/2029 (a)
|
1,000,000
|
1,045,948
|
Series 2023-A, Class D, 6.44%, 4/16/2029 (a)
|
723,000
|
725,793
|
Series 2023-D, Class C, 7.17%, 1/15/2030 (a)
|
4,100,000
|
4,189,468
|
Series 2022-C, Class C, 5.28%, 4/15/2030 (a)
|
1,000,000
|
992,447
|
Credit Acceptance Auto Loan Trust
|
|
|
Series 2021-3A, Class C, 1.63%, 9/16/2030 (a)
|
1,250,000
|
1,228,479
|
Series 2021-4, Class A, 1.26%, 10/15/2030 (a)
|
339,719
|
336,204
|
Series 2022-3A, Class D, 9.00%, 4/18/2033 (a)
|
1,000,000
|
1,015,376
|
Series 2023-1A, Class C, 7.71%, 7/15/2033 (a)
|
1,675,000
|
1,722,380
|
Series 2023-2A, Class C, 7.15%, 9/15/2033 (a)
|
1,500,000
|
1,527,793
|
Series 2023-3A, Class C, 7.62%, 12/15/2033 (a)
|
2,700,000
|
2,789,312
|
Series 2023-5A, Class C, 7.30%, 4/17/2034 (a)
|
4,820,000
|
4,949,911
|
7.68%, 4/17/2034 ‡
|
5,000,000
|
4,997,500
|
DataBank Issuer Series 2021-1A, Class A2, 2.06%, 2/27/2051 (a)
|
250,000
|
230,522
|
Diamond Resorts Owner Trust
|
|
|
Series 2021-1A, Class A, 1.51%, 11/21/2033 (a)
|
135,442
|
126,593
|
Series 2021-1A, Class D, 3.83%, 11/21/2033 (a)
|
118,809
|
108,819
|
DLLAA LLC Series 2023-1A, Class A3, 5.64%, 2/22/2028 (a)
|
1,265,000
|
1,269,746
|
DP Lion Holdco LLC Series 2023-1A, Class B, 12.73%, 11/30/2043 ‡
|
1,437,889
|
1,450,399
|
Drive Auto Receivables Trust Series 2020-2, Class D, 3.05%, 5/15/2028
|
356,061
|
354,866
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Asset-Backed Securities — continued
|
||
DT Auto Owner Trust
|
|
|
Series 2020-2A, Class D, 4.73%, 3/16/2026 (a)
|
247,662
|
247,117
|
Series 2022-3A, Class C, 7.69%, 7/17/2028 (a)
|
1,350,000
|
1,373,950
|
Series 2023-1A, Class D, 6.44%, 11/15/2028 (a)
|
1,440,000
|
1,444,915
|
Series 2023-2A, Class D, 6.62%, 2/15/2029 (a)
|
1,600,000
|
1,613,582
|
Elara HGV Timeshare Issuer LLC
|
|
|
Series 2021-A, Class C, 2.09%, 8/27/2035 (a)
|
289,340
|
266,120
|
Series 2021-A, Class D, 3.32%, 8/27/2035 (a)
|
103,336
|
93,907
|
Exeter Automobile Receivables Trust
|
|
|
Series 2020-2A, Class D, 4.73%, 4/15/2026 (a)
|
62,686
|
62,598
|
Series 2023-2A, Class C, 5.75%, 7/17/2028
|
969,000
|
964,996
|
Series 2022-3A, Class D, 6.76%, 9/15/2028
|
1,000,000
|
1,005,375
|
Series 2022-5A, Class D, 7.40%, 2/15/2029
|
1,000,000
|
1,018,922
|
Series 2022-6A, Class D, 8.03%, 4/6/2029
|
1,291,000
|
1,335,759
|
Series 2023-4A, Class D, 6.95%, 12/17/2029
|
1,205,000
|
1,228,310
|
Series 2024-2A, Class D, 5.92%, 2/15/2030
|
5,370,000
|
5,353,488
|
Series 2022-4A, Class E, 8.23%, 3/15/2030 (a)
|
1,000,000
|
992,624
|
Series 2024-1A, Class D, 5.84%, 6/17/2030
|
9,486,000
|
9,426,794
|
Series 2023-4A, Class E, 9.57%, 2/18/2031 (a)
|
1,120,000
|
1,163,508
|
FHF Issuer Trust
|
|
|
Series 2023-2A, Class B, 7.49%, 11/15/2029 (a)
|
4,550,000
|
4,694,926
|
Series 2024-1A, Class B, 6.26%, 3/15/2030 (a)
|
807,000
|
808,266
|
FHF Trust
|
|
|
Series 2021-1A, Class A, 1.27%, 3/15/2027 (a)
|
69,020
|
67,867
|
Series 2022-2A, Class A, 6.14%, 12/15/2027 (a)
|
618,589
|
616,179
|
First Investors Auto Owner Trust
|
|
|
Series 2021-2A, Class C, 1.47%, 11/15/2027 (a)
|
2,662,000
|
2,527,064
|
Series 2023-1A, Class C, 6.81%, 12/17/2029 (a)
|
1,300,000
|
1,327,909
|
FirstKey Homes Trust
|
|
|
Series 2020-SFR1, Class H, PO, , 8/17/2037 ‡ (a)
|
7,656,000
|
6,857,777
|
Series 2020-SFR1, Class E, 2.79%, 8/17/2037 (a)
|
2,300,000
|
2,191,304
|
Series 2020-SFR1, Class F1, 3.64%, 8/17/2037 (a)
|
2,201,000
|
2,107,548
|
Series 2020-SFR2, Class E, 2.67%, 10/19/2037 (a)
|
8,800,000
|
8,320,154
|
Series 2020-SFR2, Class F1, 3.02%, 10/19/2037 (a)
|
1,000,000
|
948,298
|
Series 2020-SFR2, Class F2, 3.12%, 10/19/2037 (a)
|
560,000
|
529,533
|
Series 2022-SFR3, Class D, 3.50%, 7/17/2038 (a)
|
1,250,000
|
1,173,456
|
Series 2022-SFR3, Class E1, 3.50%, 7/17/2038 (a)
|
4,500,000
|
4,178,497
|
Series 2021-SFR1, Class E1, 2.39%, 8/17/2038 (a)
|
500,000
|
454,058
|
Series 2021-SFR1, Class F1, 3.24%, 8/17/2038 (a)
|
1,668,000
|
1,504,621
|
Series 2021-SFR1, Class F2, 3.45%, 8/17/2038 (a)
|
2,500,000
|
2,236,440
|
Series 2021-SFR2, Class E1, 2.26%, 9/17/2038 (a)
|
635,000
|
572,103
|
Series 2021-SFR2, Class E2, 2.36%, 9/17/2038 (a)
|
814,000
|
731,694
|
Series 2022-SFR1, Class E1, 5.00%, 5/19/2039 (a)
|
3,165,000
|
3,002,487
|
Series 2022-SFR1, Class E2, 5.00%, 5/19/2039 (a)
|
3,094,000
|
2,916,322
|
Series 2022-SFR2, Class E2, 4.50%, 7/17/2039 (a)
|
492,000
|
451,894
|
Flagship Credit Auto Trust
|
|
|
Series 2020-4, Class D, 2.18%, 2/16/2027 (a)
|
280,000
|
267,136
|
Series 2021-4, Class C, 1.96%, 12/15/2027 (a)
|
500,000
|
471,828
|
Series 2023-2, Class C, 5.81%, 5/15/2029 (a)
|
535,000
|
533,793
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Asset-Backed Securities — continued
|
||
FMC GMSR Issuer Trust
|
|
|
Series 2021-GT1, Class B, 4.36%, 7/25/2026 (a) (i)
|
1,900,000
|
1,637,266
|
Series 2024-SAT1, Class A, 6.50%, 3/26/2027 (a) (i)
|
6,900,000
|
6,735,495
|
Series 2022-GT1, Class A, 6.19%, 4/25/2027 (a)
|
7,000,000
|
6,785,668
|
Series 2022-GT1, Class B, 7.17%, 4/25/2027 (a)
|
600,000
|
566,083
|
Series 2022-GT2, Class B, 10.07%, 7/25/2027 (a)
|
1,000,000
|
996,609
|
Foundation Finance Trust
|
|
|
Series 2020-1A, Class B, 4.62%, 7/16/2040 (a)
|
300,000
|
292,391
|
Series 2020-1A, Class C, 5.75%, 7/16/2040 (a)
|
1,450,000
|
1,358,830
|
Series 2021-1A, Class C, 2.99%, 5/15/2041 (a)
|
437,710
|
384,676
|
Series 2023-1A, Class D, 9.18%, 12/15/2043 (a)
|
1,962,435
|
1,967,049
|
FREED ABS Trust
|
|
|
Series 2021-2, Class C, 1.94%, 6/19/2028 (a)
|
26,306
|
26,259
|
Series 2022-1FP, Class D, 3.35%, 3/19/2029 (a)
|
700,000
|
679,460
|
Series 2022-3FP, Class C, 7.05%, 8/20/2029 (a)
|
430,865
|
430,892
|
Series 2022-4FP, Class C, 8.59%, 12/18/2029 (a)
|
1,000,000
|
1,006,913
|
FRTKL Series 2021-SFR1, Class D, 2.17%, 9/17/2038 (a)
|
1,000,000
|
900,581
|
GLS Auto Receivables Issuer Trust
|
|
|
Series 2022-1A, Class D, 3.97%, 1/18/2028 (a)
|
4,000,000
|
3,880,707
|
Series 2021-2A, Class E, 2.87%, 5/15/2028 (a)
|
1,500,000
|
1,426,756
|
Series 2023-2A, Class E, 9.37%, 1/15/2030 (a)
|
2,000,000
|
2,069,350
|
Series 2023-1A, Class E, 11.42%, 3/15/2030 (a)
|
1,500,000
|
1,640,188
|
GLS Auto Select Receivables Trust
|
|
|
Series 2023-1A, Class A2, 6.27%, 8/16/2027 (a)
|
2,016,030
|
2,021,909
|
Series 2024-1A, Class B, 5.32%, 3/15/2030 (a)
|
1,000,000
|
992,096
|
Series 2024-1A, Class C, 5.69%, 3/15/2030 (a)
|
300,000
|
298,084
|
Series 2024-1A, Class D, 6.43%, 1/15/2031 (a)
|
705,000
|
708,619
|
Hertz Vehicle Financing LLC Series 2023-3A, Class A, 5.94%, 2/25/2028 (a)
|
1,397,000
|
1,398,943
|
HGI CRE CLO Ltd. (Cayman Islands)
|
|
|
Series 2022-FL3, Class B, 7.92%, 4/20/2037 (a) (i)
|
1,000,000
|
981,847
|
Series 2022-FL3, Class E, 9.62%, 4/20/2037 (a) (i)
|
663,500
|
641,985
|
Hilton Grand Vacations Trust
|
|
|
Series 2022-1D, Class D, 6.79%, 6/20/2034 (a)
|
202,850
|
193,276
|
Series 2022-2A, Class D, 8.73%, 1/25/2037 (a)
|
354,791
|
350,544
|
Series 2020-AA, Class C, 6.42%, 2/25/2039 (a)
|
136,241
|
135,520
|
Series 2024-1B, Class D, 8.85%, 9/15/2039 (a)
|
4,834,681
|
4,879,524
|
HIN Timeshare Trust
|
|
|
Series 2020-A, Class D, 5.50%, 10/9/2039 (a)
|
486,179
|
455,683
|
Series 2020-A, Class E, 6.50%, 10/9/2039 (a)
|
1,397,766
|
1,299,755
|
HINNT LLC
|
|
|
Series 2022-A, Class D, 6.50%, 5/15/2041 (a)
|
459,738
|
437,973
|
Series 2022-A, Class E, 8.00%, 5/15/2041 (a)
|
1,800,216
|
1,728,772
|
Series 2024-A, Class D, 7.00%, 3/15/2043 (a)
|
2,396,489
|
2,318,434
|
Series 2024-A, Class E, 8.00%, 3/15/2043 (a)
|
2,597,794
|
2,419,145
|
Home Partners of America Trust
|
|
|
Series 2021-2, Class F, 3.80%, 12/17/2026 (a)
|
9,129,610
|
8,159,548
|
Series 2022-1, Class D, 4.73%, 4/17/2039 (a)
|
950,526
|
888,321
|
Series 2019-2, Class A, 2.70%, 10/19/2039 (a)
|
5,981,429
|
5,446,860
|
Series 2021-3, Class D, 3.00%, 1/17/2041 (a)
|
3,833,676
|
3,259,856
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Asset-Backed Securities — continued
|
||
John Deere Owner Trust Series 2023-B, Class A4, 5.11%, 5/15/2030
|
2,200,000
|
2,185,716
|
Lending Funding Trust
|
|
|
Series 2020-2A, Class A, 2.32%, 4/21/2031 (a)
|
3,750,000
|
3,502,743
|
Series 2020-2A, Class D, 6.77%, 4/21/2031 (a)
|
4,000,000
|
3,762,665
|
Lendingpoint Asset Securitization Trust Series 2022-A, Class D, 4.54%, 6/15/2029 (a)
|
1,000,000
|
705,739
|
Lendmark Funding Trust
|
|
|
Series 2021-1A, Class A, 1.90%, 11/20/2031 (a)
|
844,000
|
769,762
|
Series 2021-1A, Class D, 5.05%, 11/20/2031 (a)
|
2,870,000
|
2,509,785
|
Series 2021-2A, Class B, 2.37%, 4/20/2032 (a)
|
1,545,000
|
1,340,102
|
Series 2021-2A, Class D, 4.46%, 4/20/2032 (a)
|
6,800,000
|
5,789,215
|
Series 2022-1A, Class E, 7.58%, 7/20/2032 ‡ (a)
|
5,000,000
|
4,863,127
|
Series 2023-1A, Class D, 8.69%, 5/20/2033 (a)
|
530,000
|
543,958
|
LP LMS Asset Securitization Trust
|
|
|
Series 2023-1A, Class B, 7.48%, 10/17/2033 (a)
|
1,500,000
|
1,480,028
|
Series 2023-1A, Class A, 8.18%, 10/17/2033 (a)
|
470,331
|
471,470
|
Mariner Finance Issuance Trust
|
|
|
Series 2019-AA, Class D, 5.44%, 7/20/2032 (a)
|
1,232,573
|
1,227,743
|
Series 2020-AA, Class D, 5.75%, 8/21/2034 (a)
|
2,070,000
|
1,961,915
|
Series 2023-AA, Class E, 11.12%, 10/22/2035 (a)
|
1,500,000
|
1,510,572
|
Series 2021-AA, Class B, 2.33%, 3/20/2036 (a)
|
1,300,000
|
1,162,947
|
Series 2021-AA, Class C, 2.96%, 3/20/2036 (a)
|
370,000
|
328,416
|
Series 2021-AA, Class D, 3.83%, 3/20/2036 (a)
|
651,000
|
574,185
|
Series 2021-AA, Class E, 5.40%, 3/20/2036 (a)
|
6,040,000
|
5,210,333
|
Series 2021-BA, Class E, 4.68%, 11/20/2036 (a)
|
5,840,000
|
4,891,923
|
Series 2022-AA, Class D, 9.10%, 10/20/2037 (a)
|
650,000
|
662,335
|
Series 2022-AA, Class E, 10.98%, 10/20/2037 ‡ (a)
|
3,000,000
|
3,049,641
|
Marlette Funding Trust
|
|
|
Series 2023-1A, Class C, 7.20%, 4/15/2033 (a)
|
980,000
|
991,879
|
Series 2023-2A, Class C, 6.96%, 6/15/2033 (a)
|
375,000
|
377,639
|
Merchants Fleet Funding LLC Series 2023-1A, Class A, 7.21%, 5/20/2036 (a)
|
3,817,014
|
3,833,748
|
Mercury Financial Credit Card Master Trust Series 2023-1A, Class A, 8.04%, 9/20/2027 (a)
|
2,584,000
|
2,602,564
|
MNR ABS Issuer I LLC, 12.44%, 12/15/2038 ‡
|
3,682,977
|
3,757,742
|
MVW LLC
|
|
|
Series 2020-1A, Class C, 4.21%, 10/20/2037 (a)
|
81,585
|
78,329
|
Series 2020-1A, Class D, 7.14%, 10/20/2037 (a)
|
815,847
|
790,427
|
Series 2019-2A, Class B, 2.44%, 10/20/2038 (a)
|
38,097
|
36,070
|
Series 2023-1A, Class C, 6.54%, 10/20/2040 (a)
|
2,157,677
|
2,141,786
|
Series 2022-2A, Class C, 7.62%, 10/21/2041 (a)
|
602,444
|
612,467
|
Series 2022-2A, Class D, 9.00%, 10/21/2041 (a)
|
1,462,733
|
1,451,013
|
MVW Owner Trust Series 2019-1A, Class C, 3.33%, 11/20/2036 (a)
|
22,367
|
21,582
|
New Residential Mortgage LLC Series 2020-FNT1, Class A, 5.44%, 6/25/2025 (a)
|
1,340,125
|
1,319,275
|
New Residential Mortgage Loan Trust
|
|
|
Series 2022-SFR1, Class D, 3.30%, 2/17/2039 (a)
|
340,000
|
310,592
|
Series 2022-SFR1, Class E1, 3.55%, 2/17/2039 (a)
|
420,000
|
375,771
|
Nissan Auto Lease Trust Series 2023-B, Class A4, 5.61%, 11/15/2027
|
800,000
|
800,298
|
NMEF Funding LLC Series 2021-A, Class C, 2.58%, 12/15/2027 (a)
|
600,000
|
592,769
|
NRZ Excess Spread-Collateralized Notes
|
|
|
Series 2020-PLS1, Class A, 3.84%, 12/25/2025 (a)
|
128,671
|
123,871
|
Series 2021-FNT1, Class A, 2.98%, 3/25/2026 (a)
|
451,123
|
425,753
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Asset-Backed Securities — continued
|
||
Series 2021-FNT2, Class A, 3.23%, 5/25/2026 (a)
|
129,816
|
122,431
|
Series 2021-GNT1, Class A, 3.47%, 11/25/2026 (a)
|
1,120,332
|
1,038,617
|
NRZ FHT Excess LLC Series 2020-FHT1, Class A, 4.21%, 11/25/2025 (a)
|
1,292,568
|
1,249,890
|
Octane Receivables Trust
|
|
|
Series 2020-1A, Class C, 2.89%, 3/20/2026 (a)
|
234,273
|
232,872
|
Series 2022-2A, Class C, 6.29%, 7/20/2028 (a)
|
1,390,000
|
1,392,438
|
Series 2022-2A, Class D, 7.70%, 2/20/2030 (a)
|
2,000,000
|
2,062,271
|
Series 2024-1A, Class D, 6.43%, 10/21/2030 (a)
|
3,000,000
|
2,999,554
|
OneMain Direct Auto Receivables Trust Series 2019-1A, Class B, 3.95%, 11/14/2028 (a)
|
1,000,000
|
969,965
|
Oportun Funding XIV LLC
|
|
|
Series 2021-A, Class A, 1.21%, 3/8/2028 (a)
|
514,349
|
498,551
|
Series 2021-A, Class C, 3.44%, 3/8/2028 (a)
|
122,158
|
117,577
|
Oportun Issuance Trust
|
|
|
Series 2022-2, Class C, 9.36%, 10/9/2029 (a)
|
1,500,000
|
1,508,006
|
Series 2022-3, Class C, 10.15%, 1/8/2030 (a)
|
1,912,000
|
1,951,913
|
Series 2024-1A, Class C, 7.42%, 4/8/2031 (a)
|
1,200,000
|
1,194,033
|
Series 2021-B, Class B, 1.96%, 5/8/2031 (a)
|
400,000
|
378,942
|
Series 2021-B, Class C, 3.65%, 5/8/2031 (a)
|
5,215,000
|
4,993,757
|
Series 2022-A, Class C, 7.40%, 6/9/2031 (a)
|
755,000
|
743,682
|
Series 2021-C, Class A, 2.18%, 10/8/2031 (a)
|
3,663,000
|
3,467,780
|
Porsche Financial Auto Securitization Trust
|
|
|
Series 2023-1A, Class A3, 4.81%, 9/22/2028 (a)
|
1,500,000
|
1,487,942
|
Series 2023-2A, Class A3, 5.79%, 1/22/2029 (a)
|
600,000
|
603,395
|
Prestige Auto Receivables Trust Series 2022-1A, Class C, 7.09%, 8/15/2028 (a)
|
1,200,000
|
1,211,782
|
PRET LLC
|
|
|
Series 2021-NPL6, Class A1, 2.49%, 7/25/2051 (a) (j)
|
292,144
|
285,369
|
Series 2021-RN3, Class A1, 1.84%, 9/25/2051 (a) (j)
|
667,107
|
634,519
|
Pretium Mortgage Credit Partners I LLC Series 2021-NPL1, Class A1, 5.24%, 9/27/2060 (a) (j)
|
225,552
|
223,238
|
Pretium Mortgage Credit Partners LLC Series 2022-NPL1, Class A1, 2.98%, 1/25/2052 (a) (j)
|
2,105,217
|
2,039,453
|
Progress Residential
|
|
|
Series 2021-SFR3, Class E1, 2.54%, 5/17/2026 (a)
|
450,000
|
414,445
|
Series 2021-SFR3, Class E2, 2.69%, 5/17/2026 (a)
|
645,000
|
591,374
|
Progress Residential Trust
|
|
|
Series 2022-SFR2, Class E2, 4.80%, 4/17/2027 (a)
|
651,000
|
604,246
|
Series 2020-SFR3, Class E, 2.30%, 10/17/2027 (a)
|
2,300,000
|
2,160,701
|
Series 2020-SFR3, Class G, 4.11%, 10/17/2027 (a)
|
500,000
|
475,487
|
Series 2020-SFR1, Class C, 2.18%, 4/17/2037 (a)
|
2,100,000
|
2,086,538
|
Series 2020-SFR1, Class E, 3.03%, 4/17/2037 (a)
|
425,000
|
422,386
|
Series 2020-SFR1, Class F, 3.43%, 4/17/2037 (a)
|
450,000
|
447,256
|
Series 2020-SFR1, Class G, 4.03%, 4/17/2037 (a)
|
5,000,000
|
4,968,327
|
Series 2020-SFR2, Class D, 3.87%, 6/17/2037 (a)
|
750,000
|
730,052
|
Series 2021-SFR2, Class E2, 2.65%, 4/19/2038 (a)
|
500,000
|
459,902
|
Series 2021-SFR5, Class E1, 2.21%, 7/17/2038 (a)
|
950,000
|
862,836
|
Series 2021-SFR5, Class E2, 2.36%, 7/17/2038 (a)
|
270,000
|
244,286
|
Series 2021-SFR8, Class E1, 2.38%, 10/17/2038 (a)
|
2,650,000
|
2,385,821
|
Series 2022-SFR3, Class D, 4.45%, 4/17/2039 (a)
|
1,090,000
|
1,034,952
|
Series 2022-SFR3, Class E2, 5.60%, 4/17/2039 (a)
|
4,160,000
|
3,947,193
|
Series 2022-SFR3, Class F, 6.60%, 4/17/2039 (a)
|
665,000
|
633,734
|
Series 2022-SFR5, Class E2, 6.86%, 6/17/2039 (a)
|
388,000
|
383,601
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Asset-Backed Securities — continued
|
||
Series 2023-SFR1, Class E2, 6.60%, 3/17/2040 (a)
|
5,476,000
|
5,316,616
|
Series 2021-SFR7, Class E1, 2.59%, 8/17/2040 (a)
|
793,000
|
672,668
|
Series 2023-SFR2, Class E1, 4.75%, 10/17/2040 (a)
|
3,769,000
|
3,435,158
|
Series 2022-SFR1, Class E2, 3.99%, 2/17/2041 (a)
|
750,000
|
654,953
|
Series 2024-SFR2, Class D, 3.40%, 4/17/2041 (a) (i)
|
3,434,000
|
3,014,458
|
Series 2024-SFR2, Class E1, 3.40%, 4/17/2041 (a) (i)
|
4,136,000
|
3,552,866
|
PRPM LLC Series 2021-2, Class A1, 5.11%, 3/25/2026 (a) (i)
|
109,139
|
108,200
|
RCO VI Mortgage LLC Series 2022-1, Class A1, 3.00%, 1/25/2027 (a) (j)
|
204,096
|
198,318
|
ReadyCap Lending Small Business Loan Trust Series 2019-2, Class A, 8.00%, 12/27/2044 (a) (i)
|
40,005
|
40,065
|
Regional Management Issuance Trust
|
|
|
Series 2020-1, Class C, 3.80%, 10/15/2030 (a)
|
1,900,000
|
1,785,234
|
Series 2021-1, Class D, 5.07%, 3/17/2031 (a)
|
500,000
|
463,215
|
Series 2022-1, Class B, 3.71%, 3/15/2032 (a)
|
1,358,000
|
1,275,216
|
Series 2022-2B, Class B, 8.51%, 11/17/2032 (a)
|
1,227,000
|
1,263,036
|
Renew Series 2023-1A, Class A, 5.90%, 11/20/2058 ‡ (a)
|
3,050,203
|
2,913,210
|
RT Fin LLC, 7.85%, 10/15/2043 ‡
|
1,839,967
|
1,843,402
|
Santander Drive Auto Receivables Trust
|
|
|
Series 2022-4, Class C, 5.00%, 11/15/2029
|
5,000,000
|
4,923,372
|
Series 2023-2, Class C, 5.47%, 12/16/2030
|
1,500,000
|
1,496,051
|
Series 2022-5, Class D, 5.67%, 12/16/2030
|
6,000,000
|
5,939,875
|
Series 2022-6, Class D, 5.69%, 2/18/2031
|
6,200,000
|
6,171,019
|
Santander Revolving Auto Loan Trust Series 2019-A, Class D, 3.45%, 1/26/2032 (a)
|
150,000
|
147,592
|
SCF Equipment Leasing LLC
|
|
|
Series 2022-2A, Class A3, 6.50%, 10/21/2030 (a)
|
2,300,000
|
2,316,501
|
Series 2023-1A, Class B, 6.37%, 5/20/2032 (a)
|
4,000,000
|
4,100,899
|
Series 2022-2A, Class E, 6.50%, 6/20/2035 (a)
|
1,112,000
|
1,047,208
|
Series 2023-1A, Class E, 7.00%, 7/21/2036 (a)
|
5,400,000
|
5,137,709
|
Sierra Timeshare Receivables Funding LLC
|
|
|
Series 2020-2A, Class D, 6.59%, 7/20/2037 (a)
|
325,177
|
318,678
|
Series 2021-1A, Class D, 3.17%, 11/20/2037 (a)
|
146,382
|
138,363
|
Series 2022-1A, Class D, 6.00%, 10/20/2038 (a)
|
269,724
|
256,220
|
Series 2022-3A, Class D, 10.52%, 7/20/2039 (a)
|
414,517
|
426,295
|
Series 2023-1A, Class D, 9.80%, 1/20/2040 (a)
|
1,509,087
|
1,545,182
|
Series 2023-2A, Class D, 9.72%, 4/20/2040 (a)
|
777,564
|
795,556
|
Series 2022-2A, Class D, 9.22%, 6/20/2040 (a)
|
260,432
|
262,019
|
SpringCastle America Funding LLC Series 2020-AA, Class A, 1.97%, 9/25/2037 (a)
|
435,363
|
396,492
|
Tesla Auto Lease Trust Series 2023-B, Class A4, 6.22%, 3/22/2027 (a)
|
3,300,000
|
3,328,298
|
Theorem Funding Trust Series 2022-2A, Class A, 6.06%, 12/15/2028 (a)
|
132,753
|
132,551
|
Tricolor Auto Securitization Trust Series 2022-1A, Class D, 5.38%, 1/15/2026 (a)
|
3,755,000
|
3,729,995
|
Tricon American Homes Series 2020-SFR1, Class E, 3.54%, 7/17/2038 (a)
|
300,000
|
284,371
|
United Airlines Pass-Through Trust
|
|
|
Series 2014-1, Class A, 4.00%, 4/11/2026
|
101,677
|
98,228
|
Series 2018-1, Class A, 3.70%, 3/1/2030
|
11,021
|
9,928
|
United Auto Credit Securitization Trust
|
|
|
Series 2022-2, Class C, 5.81%, 5/10/2027 (a)
|
856,000
|
854,260
|
Series 2022-2, Class E, 10.00%, 4/10/2029 ‡ (a)
|
1,000,000
|
700,000
|
UOG ABS Issuer I LLC Series 2023-1, Class A1, 8.35%, 6/5/2040 ‡ (a)
|
885,559
|
882,016
|
Upstart Securitization Trust Series 2022-4, Class A, 5.98%, 8/20/2032 (a)
|
340,653
|
339,624
|
Upstart Structured Pass-Through Trust Series 2022-4A, Class A, 7.01%, 11/15/2030 (a)
|
311,423
|
311,968
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Asset-Backed Securities — continued
|
||
US Auto Funding Trust
|
|
|
Series 2022-1A, Class B, 5.13%, 12/15/2025 ‡ (a)
|
700,000
|
237,533
|
Series 2022-1A, Class D, 9.14%, 7/15/2027 ‡ (a)
|
1,000,000
|
150,000
|
VCAT LLC
|
|
|
Series 2021-NPL1, Class A1, 5.29%, 12/26/2050 (a) (j)
|
80,061
|
79,454
|
Series 2021-NPL5, Class A1, 1.87%, 8/25/2051 (a) (j)
|
642,606
|
625,682
|
Vericrest Opportunity Loan Transferee Series 2021-NP11, Class A1, 1.87%, 8/25/2051 (a) (j)
|
2,587,231
|
2,503,832
|
Veros Auto Receivables Trust Series 2021-1, Class B, 1.49%, 10/15/2026 (a)
|
50,893
|
50,698
|
VOLT CV LLC Series 2021-CF2, Class A1, 2.49%, 11/27/2051 (a) (j)
|
1,312,570
|
1,268,903
|
VOLT XCII LLC Series 2021-NPL1, Class A1, 4.89%, 2/27/2051 (a) (j)
|
490,246
|
479,856
|
VOLT XCIII LLC Series 2021-NPL2, Class A1, 4.89%, 2/27/2051 (a) (j)
|
828,775
|
812,419
|
VOLT XCIV LLC Series 2021-NPL3, Class A1, 5.24%, 2/27/2051 (a) (j)
|
119,514
|
117,939
|
Westgate Resorts LLC
|
|
|
Series 2020-1A, Class C, 6.21%, 3/20/2034 (a)
|
16,630
|
16,550
|
Series 2022-1A, Class B, 2.29%, 8/20/2036 (a)
|
100,850
|
96,449
|
Series 2022-1A, Class D, 3.84%, 8/20/2036 (a)
|
403,401
|
384,062
|
Series 2023-1A, Class C, 7.49%, 12/20/2037 (a)
|
2,356,811
|
2,339,973
|
Westlake Automobile Receivables Trust
|
|
|
Series 2021-3A, Class D, 2.12%, 1/15/2027 (a)
|
500,000
|
480,211
|
Series 2021-3A, Class E, 3.42%, 4/15/2027 (a)
|
2,500,000
|
2,411,239
|
Series 2022-2A, Class D, 5.48%, 9/15/2027 (a)
|
1,000,000
|
990,320
|
Series 2023-3A, Class C, 6.02%, 9/15/2028 (a)
|
2,100,000
|
2,103,667
|
Series 2023-1A, Class D, 6.79%, 11/15/2028 (a)
|
905,000
|
918,854
|
Series 2023-2A, Class D, 7.01%, 11/15/2028 (a)
|
1,219,000
|
1,235,319
|
Series 2023-4A, Class D, 7.19%, 7/16/2029 (a)
|
3,500,000
|
3,585,276
|
Total Asset-Backed Securities
(Cost $489,864,650)
|
|
494,015,865
|
U.S. Treasury Obligations — 8.5%
|
||
U.S. Treasury Bonds
|
|
|
4.50%, 8/15/2039
|
11,176,000
|
11,088,251
|
1.13%, 5/15/2040
|
8,454,000
|
5,118,633
|
1.13%, 8/15/2040
|
6,437,100
|
3,860,751
|
4.75%, 2/15/2041
|
1,421,000
|
1,440,261
|
2.25%, 5/15/2041
|
4,977,000
|
3,557,777
|
4.38%, 5/15/2041
|
811,000
|
785,054
|
3.13%, 11/15/2041
|
6,143,000
|
4,998,626
|
2.75%, 11/15/2042
|
1,571,000
|
1,189,051
|
4.00%, 11/15/2042
|
49,101,000
|
44,756,713
|
3.63%, 8/15/2043
|
18,646,000
|
16,025,363
|
3.75%, 11/15/2043
|
2,226,000
|
1,945,837
|
3.38%, 5/15/2044
|
14,050,000
|
11,571,492
|
2.88%, 8/15/2045
|
809,000
|
607,256
|
1.88%, 2/15/2051
|
2,622,000
|
1,505,294
|
2.38%, 5/15/2051
|
13,009,000
|
8,432,983
|
2.25%, 2/15/2052
|
1,775,000
|
1,111,524
|
4.00%, 11/15/2052
|
7,080,000
|
6,357,619
|
3.63%, 2/15/2053
|
1,682,000
|
1,408,741
|
U.S. Treasury Notes
|
|
|
1.13%, 10/31/2026
|
36,764,000
|
33,738,150
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
U.S. Treasury Obligations — continued
|
||
0.50%, 8/31/2027
|
42,032,000
|
36,838,749
|
1.25%, 9/30/2028
|
16,718,000
|
14,572,741
|
2.38%, 3/31/2029
|
12,045,000
|
10,934,131
|
1.88%, 2/15/2032
|
5,701,000
|
4,735,393
|
2.75%, 8/15/2032
|
5,487,000
|
4,833,061
|
3.88%, 8/15/2033
|
17,718,000
|
16,884,700
|
U.S. Treasury STRIPS Bonds
|
|
|
3.86%, 2/15/2034 (l)
|
4,986,000
|
3,202,497
|
4.77%, 5/15/2040 (l)
|
3,436,000
|
1,592,237
|
4.67%, 11/15/2040 (l)
|
18,060,000
|
8,130,510
|
4.17%, 5/15/2041 (l)
|
10,019,000
|
4,398,866
|
2.39%, 8/15/2041 (l)
|
207,000
|
89,645
|
2.73%, 2/15/2042 (l)
|
1,065,000
|
449,185
|
Total U.S. Treasury Obligations
(Cost $281,428,600)
|
|
266,161,091
|
Commercial Mortgage-Backed Securities — 6.6%
|
||
BAMLL RE-Remic Trust Series 2014-FRR8, Class C, 0.00%, 11/26/2047 ‡ (a) (i)
|
4,000,000
|
3,853,254
|
Banc of America Re-Remic Trust
|
|
|
Series 2024-FRR1, Class B, 0.00%, 4/27/2049 ‡ (a)
|
5,000,000
|
3,230,467
|
Series 2024-FRR1, Class C, 0.00%, 4/27/2049 ‡ (a)
|
7,128,000
|
4,111,304
|
Series 2024-FRR1, Class A, 2.13%, 4/27/2049 ‡ (a) (i)
|
3,000,000
|
2,223,782
|
BBCMS Mortgage Trust Series 2016-ETC, Class E, 3.61%, 8/14/2036 (a) (i)
|
8,413,000
|
6,798,892
|
BB-UBS Trust Series 2012-SHOW, Class E, 4.03%, 11/5/2036 (a) (i)
|
225,000
|
199,884
|
BMD2 Re-Remic Trust Series 2019-FRR1, Class 5B13, 2.19%, 5/25/2052 ‡ (a) (i)
|
4,000,000
|
2,947,857
|
BXP Trust Series 2017-GM, Class A, 3.38%, 6/13/2039 (a)
|
2,000,000
|
1,851,740
|
Cascade Funding Mortgage Trust
|
|
|
Series 2021-FRR1, Class DK45, 0.00%, 2/28/2025 (a)
|
380,000
|
350,440
|
Series 2021-FRR1, Class CK45, 1.33%, 2/28/2025 (a) (i)
|
500,000
|
469,573
|
Series 2021-FRR1, Class BK45, 2.04%, 2/28/2025 (a) (i)
|
600,000
|
571,057
|
Series 2021-FRR1, Class CK54, 0.00%, 2/28/2026 (a)
|
480,000
|
406,677
|
Series 2021-FRR1, Class DKW1, 0.00%, 2/28/2026 (a)
|
430,000
|
357,398
|
Series 2021-FRR1, Class BK98, 0.00%, 8/29/2029 (a)
|
1,150,000
|
741,881
|
Series 2021-FRR1, Class AK99, 0.00%, 9/29/2029 (a)
|
3,000,000
|
1,997,037
|
Series 2021-FRR1, Class BK99, 0.00%, 9/29/2029 (a)
|
400,000
|
238,361
|
CSMC OA LLC Series 2014-USA, Class D, 4.37%, 9/15/2037 (a)
|
3,739,000
|
2,794,012
|
FHLMC
|
|
|
Series K753, Class A2, 4.40%, 10/25/2030
|
3,125,000
|
3,033,453
|
Series 2023-MN7, Class M2, 11.02%, 9/25/2043 (a) (i)
|
1,240,000
|
1,356,174
|
Series 2024-MN8, Class M2, 9.57%, 5/25/2044 (a) (i)
|
4,761,000
|
4,808,058
|
FHLMC, Multi-Family Structured Credit Risk
|
|
|
Series 2021-MN1, Class M1, 7.32%, 1/25/2051 (a) (i)
|
1,340,414
|
1,317,997
|
Series 2021-MN1, Class M2, 9.07%, 1/25/2051 (a) (i)
|
685,000
|
688,024
|
Series 2021-MN3, Class M1, 7.62%, 11/25/2051 (a) (i)
|
454,550
|
446,353
|
Series 2021-MN3, Class M2, 9.32%, 11/25/2051 (a) (i)
|
4,500,000
|
4,531,343
|
Series 2022-MN4, Class M1, 9.57%, 5/25/2052 (a) (i)
|
966,459
|
987,628
|
Series 2022-MN4, Class M2, 11.82%, 5/25/2052 (a) (i)
|
750,000
|
832,258
|
FHLMC, Multi-Family Structured Pass-Through Certificates
|
|
|
Series KW06, Class A2, 3.80%, 6/25/2028 (i)
|
1,750,000
|
1,676,613
|
Series K088, Class A2, 3.69%, 1/25/2029
|
350,000
|
332,431
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Commercial Mortgage-Backed Securities — continued
|
||
Series K128, Class X3, IO, 2.78%, 4/25/2031 (i)
|
550,000
|
79,816
|
Series KJ48, Class A2, 5.03%, 10/25/2031
|
2,000,000
|
1,991,487
|
Series K136, Class A2, 2.13%, 11/25/2031
|
3,500,000
|
2,897,706
|
Series K142, Class A2, 2.40%, 3/25/2032
|
1,250,000
|
1,048,745
|
Series K-151, Class A2, 3.80%, 10/25/2032 (i)
|
1,050,000
|
968,534
|
Series K-153, Class A2, 3.82%, 12/25/2032 (i)
|
1,000,000
|
923,159
|
Series KJ44, Class A2, 4.61%, 2/25/2033
|
5,000,000
|
4,821,296
|
Series K-160, Class A2, 4.50%, 8/25/2033 (i)
|
6,000,000
|
5,805,268
|
Series K-1520, Class X1, IO, 0.47%, 2/25/2036 (i)
|
4,477,325
|
166,356
|
Series K-1520, Class X3, IO, 3.09%, 4/25/2039 (i)
|
550,000
|
132,442
|
Series K145, Class AM, 2.58%, 6/25/2055
|
1,100,000
|
929,269
|
Series Q014, Class X, IO, 2.78%, 10/25/2055 (i)
|
1,842,078
|
278,767
|
FNMA ACES
|
|
|
Series 2017-M3, Class A2, 2.46%, 12/25/2026 (i)
|
256,709
|
240,865
|
Series 2021-M11, Class A2, 1.46%, 3/25/2031 (i)
|
300,000
|
239,147
|
Series 2023-M2, Class PT, 3.13%, 4/25/2031 (i)
|
3,990,664
|
3,615,833
|
Series 2022-M1G, Class A2, 1.53%, 9/25/2031 (i)
|
2,700,000
|
2,168,252
|
Series 2022-M1, Class A1, 1.67%, 10/25/2031 (i)
|
441,314
|
391,293
|
Series 2022-M3, Class A2, 1.71%, 11/25/2031 (i)
|
1,400,000
|
1,118,650
|
Series 2021-M15, Class A2, 2.00%, 11/25/2031
|
1,500,000
|
1,249,964
|
Series 2022-M8, Class A2, 1.94%, 12/25/2031 (i)
|
2,500,000
|
2,021,746
|
Series 2022-M2S, Class A1, 3.75%, 5/25/2032 (i)
|
962,446
|
920,522
|
Series 2022-M13, Class A2, 2.59%, 6/25/2032 (i)
|
1,372,000
|
1,158,151
|
Series 2020-M53, Class A2, 1.69%, 11/25/2032 (i)
|
1,250,000
|
967,344
|
Series 2023-M8, Class A2, 4.47%, 3/25/2033 (i)
|
2,980,000
|
2,873,793
|
Series 2021-M3, Class 1A1, 1.00%, 11/25/2033
|
15,544
|
15,146
|
Series 2021-M3, Class X1, IO, 1.92%, 11/25/2033 (i)
|
494,805
|
36,804
|
FREMF Mortgage Trust
|
|
|
Series 2018-KL3W, Class CW, 4.10%, 8/25/2025 (a) (i)
|
250,000
|
235,982
|
Series 2018-KBX1, Class B, 3.61%, 1/25/2026 (a) (i)
|
500,000
|
444,653
|
Series 2018-K82, Class X2A, IO, 0.10%, 9/25/2028 (a)
|
89,129,469
|
291,391
|
Series 2021-KHG3, Class BFX, 2.40%, 9/25/2028 (a) (i)
|
1,000,000
|
838,740
|
Series 2018-K82, Class D, PO, 10/25/2028 (a)
|
8,500,000
|
5,787,726
|
Series 2018-K82, Class X2B, IO, 0.10%, 10/25/2028 (a)
|
22,000,000
|
78,731
|
Series 2018-K84, Class D, PO, 11/25/2028 (a)
|
9,500,000
|
6,243,582
|
Series 2019-K92, Class X2A, IO, 0.10%, 4/25/2029 (a)
|
129,462,009
|
456,082
|
Series 2019-K92, Class X2B, IO, 0.10%, 7/25/2029 (a)
|
28,380,000
|
110,288
|
Series 2019-KW10, Class C, PO, 10/25/2032 (a)
|
3,200,000
|
1,953,966
|
Series 2019-KW10, Class X2A, IO, 0.10%, 10/25/2032 (a)
|
36,135,571
|
135,964
|
Series 2019-KW10, Class X2B, IO, 0.10%, 10/25/2032 (a)
|
4,200,000
|
16,664
|
Series 2018-K157, Class C, PO, 9/25/2033 (a)
|
10,448,587
|
4,531,031
|
Series 19K-1510, Class C, 0.00%, 1/25/2034 ‡ (a)
|
10,000,000
|
4,182,062
|
Series 2015-K44, Class B, 3.72%, 1/25/2048 (a) (i)
|
200,000
|
196,818
|
Series 2015-K45, Class B, 3.60%, 4/25/2048 (a) (i)
|
199,293
|
195,844
|
Series 2015-K48, Class B, 3.65%, 8/25/2048 (a) (i)
|
200,000
|
194,983
|
Series 2015-K50, Class B, 3.78%, 10/25/2048 (a) (i)
|
200,000
|
194,639
|
Series 2015-K51, Class B, 3.95%, 10/25/2048 (a) (i)
|
381,860
|
371,934
|
Series 2016-K52, Class B, 3.93%, 1/25/2049 (a) (i)
|
250,000
|
242,567
|
Series 2016-K53, Class C, 4.02%, 3/25/2049 (a) (i)
|
70,000
|
67,472
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Commercial Mortgage-Backed Securities — continued
|
||
Series 2016-K57, Class B, 3.92%, 8/25/2049 (a) (i)
|
1,000,000
|
959,862
|
Series 2017-K68, Class D, PO, 10/25/2049 (a)
|
8,282,198
|
6,116,079
|
Series 2017-K69, Class D, PO, 10/25/2049 (a)
|
7,343,050
|
5,316,856
|
Series 2017-K69, Class X2B, IO, 0.10%, 10/25/2049 (a)
|
23,685,560
|
64,219
|
Series 2017-K729, Class B, 3.67%, 11/25/2049 (a) (i)
|
300,000
|
295,733
|
Series 2018-K80, Class B, 4.23%, 8/25/2050 (a) (i)
|
1,000,000
|
941,032
|
Series 2018-K81, Class D, PO, 9/25/2051 (a)
|
9,500,000
|
6,292,953
|
Series 2019-K88, Class C, 4.38%, 2/25/2052 (a) (i)
|
1,975,000
|
1,839,932
|
Series 2019-K92, Class D, PO, 5/25/2052 (a)
|
12,000,000
|
7,746,553
|
Series 2020-K116, Class D, PO, 9/25/2052 (a)
|
12,000,000
|
6,523,884
|
Series 2020-K116, Class X2A, IO, 0.10%, 9/25/2052 (a)
|
127,706,037
|
533,964
|
Series 2020-K116, Class X2B, IO, 0.10%, 9/25/2052 (a)
|
31,000,000
|
139,385
|
Series 2020-K105, Class D, PO, 3/25/2053 (a)
|
9,500,000
|
5,385,611
|
Series 2020-K105, Class X2A, IO, 0.10%, 3/25/2053 (a)
|
101,401,070
|
407,937
|
Series 2020-K105, Class X2B, IO, 0.10%, 3/25/2053 (a)
|
23,000,000
|
101,605
|
Series 2020-K122, Class D, PO, 1/25/2054 (a)
|
11,000,000
|
5,873,744
|
Series 2020-K122, Class X2B, IO, 0.10%, 1/25/2054 (a)
|
27,000,000
|
128,887
|
FRR Re-REMIC Trust Series 2018-C1, Class CK43, PO, 2/27/2048 (a)
|
612,655
|
574,879
|
GAM Re-REMIC Trust
|
|
|
Series 2021-FRR1, Class 1B, PO, 11/29/2050 ‡ (a)
|
5,000,000
|
3,915,463
|
Series 2022-FRR3, Class BK89, PO, 1/27/2052 ‡ (a)
|
4,000,000
|
2,751,476
|
GS Mortgage Securities Corp. II Series 2023-SHIP, Class A, 4.32%, 9/10/2038 (a) (i)
|
4,140,000
|
4,015,277
|
Hudson Yards Mortgage Trust Series 2019-30HY, Class A, 3.23%, 7/10/2039 (a)
|
3,000,000
|
2,653,596
|
JPMCC Re-REMIC Trust Series 2015-FRR2, Class AK39, 2.16%, 8/27/2047 (a) (i)
|
944,000
|
929,877
|
MHC Commercial Mortgage Trust Series 2021-MHC, Class F, 8.03%, 4/15/2038 (a) (i)
|
503,326
|
499,866
|
Multi-Family Connecticut Avenue Securities Trust
|
|
|
Series 2019-01, Class M10, 8.69%, 10/25/2049 (a) (i)
|
6,119,691
|
6,113,934
|
Series 2020-01, Class M10, 9.19%, 3/25/2050 (a) (i)
|
10,363,903
|
10,388,676
|
Series 2023-01, Class M10, 11.82%, 11/25/2053 (a) (i)
|
5,685,000
|
6,196,848
|
RFM Reremic Trust Series 2022-FRR1, Class BK64, 1.71%, 3/1/2050 (a) (i)
|
2,328,481
|
1,918,476
|
Total Commercial Mortgage-Backed Securities
(Cost $205,192,576)
|
|
205,612,026
|
Collateralized Mortgage Obligations — 3.3%
|
||
Anchor Mortgage Trust, 10.14%, 3/25/2031 ‡ (i)
|
5,000,000
|
5,000,000
|
Connecticut Avenue Securities Trust Series 2023-R06, Class 1M2, 8.02%, 7/25/2043 (a) (i)
|
1,500,000
|
1,559,597
|
Credit One, 6.47%, 2/25/2029 ‡
|
5,000,000
|
4,981,250
|
CSMC Trust
|
|
|
Series 2021-JR1, Class A1, 5.47%, 9/27/2066 (a) (i)
|
303,656
|
299,601
|
Series 2022-JR1, Class A1, 4.27%, 10/25/2066 (a) (j)
|
430,931
|
423,752
|
FHLMC Seasoned Credit Risk Transfer Trust
|
|
|
Series 2018-1, Class MA, 3.00%, 5/25/2057
|
355,402
|
322,071
|
Series 2018-1, Class M60C, 3.50%, 5/25/2057
|
130,300
|
116,792
|
Series 2018-3, Class MA, 3.50%, 8/25/2057 (i)
|
292,633
|
274,568
|
Series 2018-3, Class M55D, 4.00%, 8/25/2057 (i)
|
245,072
|
222,188
|
Series 2018-2, Class MT, 3.50%, 11/25/2057
|
556,631
|
485,693
|
Series 2018-2, Class M55D, 4.00%, 11/25/2057
|
271,748
|
247,304
|
Series 2019-1, Class MA, 3.50%, 7/25/2058
|
3,152,104
|
2,933,264
|
Series 2019-2, Class MA, 3.50%, 8/25/2058
|
1,348,761
|
1,246,965
|
Series 2019-3, Class MT, 3.50%, 10/25/2058
|
4,309,062
|
3,755,939
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Collateralized Mortgage Obligations — continued
|
||
Series 2020-1, Class MA, 2.50%, 8/25/2059
|
4,028,320
|
3,581,121
|
Series 2020-3, Class M5TW, 3.00%, 5/25/2060
|
440,216
|
378,877
|
Series 2020-3, Class TTW, 3.00%, 5/25/2060
|
394,678
|
357,031
|
Series 2021-1, Class BXS, 12.28%, 9/25/2060 (a) (i)
|
149,375
|
115,642
|
Series 2022-1, Class MTU, 3.25%, 11/25/2061
|
3,847,614
|
3,287,998
|
Series 2023-1, Class MT, 3.00%, 10/25/2062
|
2,941,163
|
2,405,619
|
FHLMC, REMIC
|
|
|
Series 5200, Class YV, 2.50%, 7/25/2033
|
3,781,715
|
3,336,464
|
Series 2708, Class ZD, 5.50%, 11/15/2033
|
65,357
|
65,839
|
Series 4302, Class PA, 4.00%, 12/15/2043
|
51,303
|
49,024
|
Series 4281, Class BC, 4.50%, 12/15/2043 (i)
|
77,779
|
75,473
|
Series 5141, Class AH, 2.25%, 11/25/2047
|
1,220,585
|
1,048,256
|
Series 5200, Class MA, 2.50%, 8/25/2048
|
3,117,784
|
2,746,931
|
Series 4913, Class UA, 3.00%, 3/15/2049
|
5,863,916
|
5,059,581
|
Series 5028, Class JG, 1.50%, 8/25/2050
|
2,830,986
|
2,169,517
|
Series 5155, Class JD, 1.25%, 10/25/2051
|
1,403,769
|
1,052,693
|
Series 5347, PO, 10/25/2053
|
4,985,782
|
3,821,936
|
FHLMC, STRIPS Series 406, PO, 10/25/2053
|
3,667,612
|
2,902,739
|
FNMA, Grantor Trust Series 2017-T1, Class A, 2.90%, 6/25/2027
|
1,089,185
|
1,020,134
|
FNMA, REMIC
|
|
|
Series 2003-7, Class FA, 6.19%, 2/25/2033 (i)
|
62,869
|
62,940
|
Series 2013-108, Class GU, 3.00%, 10/25/2033
|
354,966
|
331,911
|
Series 2005-110, Class TY, 5.50%, 12/25/2035
|
39,345
|
39,688
|
Series 2007-89, Class F, 6.02%, 9/25/2037 (i)
|
70,528
|
70,216
|
Series 2011-112, Class PB, 4.00%, 11/25/2041
|
99,994
|
94,520
|
Series 2014-57, Class PE, 3.00%, 9/25/2044
|
1,129,000
|
893,266
|
Series 2019-25, Class PB, 2.00%, 5/25/2048
|
6,837,901
|
5,836,522
|
Series 2021-14, Class CB, 1.00%, 11/25/2049
|
3,670,576
|
2,722,907
|
GNMA
|
|
|
Series 2012-13, Class FQ, 5.75%, 1/20/2038 (i)
|
2,044,605
|
2,005,249
|
Series 2010-14, Class FH, 5.93%, 2/16/2040 (i)
|
2,886,936
|
2,867,836
|
Series 2010-61, Class FK, 5.93%, 5/16/2040 (i)
|
1,897,255
|
1,883,563
|
Series 2012-61, Class FM, 5.83%, 5/16/2042 (i)
|
333,661
|
329,595
|
Series 2020-165, Class UD, 1.50%, 11/20/2050
|
701,781
|
525,159
|
Series 2010-H24, Class FA, 5.79%, 10/20/2060 (i)
|
30,255
|
30,160
|
Series 2014-H03, Class FA, 6.04%, 1/20/2064 (i)
|
15,368
|
15,363
|
Series 2015-H02, Class FA, 6.09%, 1/20/2065 (i)
|
2,907,926
|
2,909,264
|
Series 2015-H05, Class FC, 5.92%, 2/20/2065 (i)
|
193,950
|
192,607
|
Series 2021-H14, Class CF, 6.72%, 9/20/2071 (i)
|
3,016,801
|
3,079,005
|
GS Mortgage-Backed Securities Corp. Trust Series 2021-RPL1, Class A1, 1.75%, 12/25/2060 (a) (i)
|
2,623,024
|
2,387,402
|
Home RE Ltd. (Bermuda) Series 2022-1, Class M1C, 10.82%, 10/25/2034 (a) (i)
|
750,000
|
802,478
|
LHOME Mortgage Trust
|
|
|
Series 2023-RTL1, Class A1, 7.87%, 1/25/2028 (a) (j)
|
1,320,000
|
1,329,365
|
Series 2023-RTL2, Class A1, 8.00%, 6/25/2028 (a) (j)
|
2,000,000
|
2,025,273
|
Series 2023-RTL4, Class A1, 7.63%, 11/25/2028 (a) (j)
|
3,675,000
|
3,717,104
|
New Residential Mortgage Loan Trust
|
|
|
Series 2024-RTL1, Class A1, 6.66%, 3/25/2039 (a) (j)
|
4,225,000
|
4,255,621
|
Series 2024-RTL1, Class M1, 9.30%, 3/25/2039 (a) (i)
|
3,250,000
|
3,211,252
|
Radnor RE Ltd. (Bermuda) Series 2022-1, Class M1B, 12.07%, 9/25/2032 (a) (i)
|
400,000
|
429,999
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Collateralized Mortgage Obligations — continued
|
||
Toorak Mortgage Trust Series 2024-RRTL1, Class A1, 6.60%, 2/25/2039 (a) (j)
|
2,000,000
|
1,998,628
|
Towd Point Mortgage Trust Series 2021-R1, Class A2C, 3.31%, 11/30/2060 (a)
|
754,000
|
592,530
|
Two Harbors Msr Frn, 7.55%, 10/25/2024 ‡ (a)
|
1,500,000
|
1,494,375
|
VM Master Issuer LLC Series 2022-1, Class B, 6.88%, 5/24/2025 ‡ (a) (i)
|
759,145
|
738,107
|
Total Collateralized Mortgage Obligations
(Cost $102,770,396)
|
|
102,215,764
|
Loan Assignments — 1.4% (d) (m)
|
||
Automobile Components — 0.0% ^
|
||
Adient US LLC, 1st Lien Term Loan B-2 (1-MONTH CME TERM SOFR + 2.75%), 8.08%, 1/31/2031
|
975,000
|
982,137
|
Beverages — 0.0% ^
|
||
Triton Water Holdings, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 3.25%),
8.81%, 3/31/2028
|
900,371
|
898,634
|
Building Products — 0.1%
|
||
Emerson Climate Technologies, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR +
2.50%), 7.83%,
5/31/2030 (n)
|
1,364,594
|
1,372,836
|
MIWD Holdco II LLC, 1st Lien Term Loan B-2 (3-MONTH CME TERM SOFR + 3.75%), 8.83%,
3/28/2031
|
500,000
|
503,440
|
Quikrete Holdings, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 2.25%), 7.58%,
3/19/2029
|
698,219
|
700,488
|
|
|
2,576,764
|
Chemicals — 0.1%
|
||
DuPont Performance, 1st Lien Term Loan B-6 (3-MONTH CME TERM SOFR + 2.00%), 7.33%,
12/20/2029
|
573,320
|
575,378
|
Ineos US Finance LLC, 1st Lien Term Loan B (Luxembourg) (1-MONTH CME TERM SOFR + 3.50%),
8.93%, 2/18/2030
|
746,241
|
748,106
|
|
|
1,323,484
|
Commercial Services & Supplies — 0.0% ^
|
||
Madison IAQ LLC, 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.25%), 8.69%, 6/21/2028
|
687,899
|
688,759
|
Construction & Engineering — 0.0% ^
|
||
Zekelman Industries, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 2.25%), 7.57%,
1/24/2031 (n)
|
870,000
|
870,618
|
Containers & Packaging — 0.0% ^
|
||
Graham Packaging Co., Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.00%), 8.44%,
8/4/2027
|
851,936
|
854,798
|
Financial Services — 0.1%
|
||
GTCR W Merger Sub LLC, 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 3.00%), 8.31%,
1/31/2031
|
746,099
|
748,068
|
NCR Atleos LLC, 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 4.75%), 10.18%, 3/27/2029
|
762,322
|
768,673
|
NorthRiver Midstream, 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 2.50%), 7.80%,
8/16/2030
|
1,030,012
|
1,032,330
|
|
|
2,549,071
|
Ground Transportation — 0.0% ^
|
||
Genesee & Wyoming, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 2.25%), 7.30%,
4/10/2031
|
533,333
|
534,485
|
Health Care Equipment & Supplies — 0.0% ^
|
||
Insulet Corp., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.00%), 8.33%, 5/4/2028
|
136,635
|
137,079
|
Medline Borrower LP, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.75%), 8.08%,
10/23/2028
|
204,427
|
205,705
|
|
|
342,784
|
Health Care Providers & Services — 0.1%
|
||
DaVita, Inc., 1st Lien Term Loan B-1 (1-MONTH CME TERM SOFR + 2.00%), 7.19%, 8/12/2026
|
895,272
|
895,272
|
Parexel International Corp., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.25%), 8.69%,
11/15/2028
|
1,346,565
|
1,353,580
|
Syneos Health,Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 4.00%), 9.31%, 9/27/2030
|
1,370,000
|
1,370,178
|
|
|
3,619,030
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Loan Assignments — continued
|
||
Hotels, Restaurants & Leisure — 0.0% ^
|
||
Carnival Corp., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.75%), 8.07%, 8/8/2027
|
340,696
|
342,570
|
Household Durables — 0.0% ^
|
||
KDC US Holdings, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 5.00%), 10.32%,
8/15/2028
|
423,937
|
425,468
|
Insurance — 0.1%
|
||
Asurion LLC, 1st Lien Term Loan B-11 (1-MONTH CME TERM SOFR + 4.25%), 9.68%, 8/19/2028
|
895,477
|
888,018
|
Hub International Ltd., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 3.25%), 8.57%,
6/20/2030
|
725,000
|
729,589
|
USI, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 3.25%), 8.55%, 9/27/2030
|
803,728
|
804,877
|
|
|
2,422,484
|
IT Services — 0.0% ^
|
||
Ahead DB Holdings LLC, 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 4.25%), 9.56%,
2/1/2031
|
262,987
|
264,068
|
MH Sub I LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 4.25%), 9.58%, 5/3/2028
|
746,241
|
747,091
|
|
|
1,011,159
|
Leisure Products — 0.0% ^
|
||
Hercules Achievement, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 5.00%),
10.44%, 12/15/2026
|
273,615
|
275,098
|
Topgolf Callaway, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.00%), 8.33%, 3/15/2030
|
445,088
|
446,997
|
|
|
722,095
|
Machinery — 0.1%
|
||
Alliance Laundry Systems LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.50%,
3-MONTH CME TERM SOFR
+ 3.50%), 8.90%, 10/8/2027
|
526,444
|
528,334
|
SPX Flow, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 4.50%), 9.93%, 4/5/2029
|
500,000
|
502,710
|
|
|
1,031,044
|
Media — 0.1%
|
||
Charter Communications Operating LLC, 1st Lien Term Loan B-4 (3-MONTH CME TERM SOFR
+ 2.00%), 7.30%,
12/7/2030
|
2,069,812
|
2,056,359
|
Clear Channel Outdoor Holdings, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR
+ 4.00%), 9.44%, 8/21/2028
|
169,280
|
169,810
|
CSC Holdings LLC, Term Loan B-6 (1-MONTH CME TERM SOFR + 4.50%), 9.82%, 1/18/2028
|
1,409,986
|
1,354,094
|
|
|
3,580,263
|
Oil, Gas & Consumable Fuels — 0.0% ^
|
||
Buckeye Partners, 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 2.00%), 2.50%, 11/22/2030 (n)
|
886,334
|
887,921
|
Passenger Airlines — 0.1%
|
||
AAdvantage Loyality IP Ltd., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 4.75%),
10.34%, 4/20/2028
|
1,462,483
|
1,517,941
|
United Airlines, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 5.25%), 10.73%,
6/21/2027
|
1,161,667
|
1,187,537
|
|
|
2,705,478
|
Personal Care Products — 0.0% ^
|
||
Conair Holdings LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.75%), 9.19%,
5/17/2028
|
945,163
|
938,225
|
Pharmaceuticals — 0.0% ^
|
||
Elanco Animal Health, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 1.75%),
7.16%, 8/1/2027
|
347,861
|
347,349
|
Professional Services — 0.1%
|
||
Brookfield WEC Holdings Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 3.00%),
8.08%, 1/27/2031
|
1,620,000
|
1,627,792
|
Dun & Bradstreet Corp., 1st Lien Term Loan B-2 (1-MONTH CME TERM SOFR + 2.75%), 8.07%,
1/18/2029
|
1,115,000
|
1,117,944
|
KBR, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.25%), 7.58%, 1/17/2031
|
916,663
|
921,246
|
|
|
3,666,982
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Loan Assignments — continued
|
||
Semiconductors & Semiconductor Equipment — 0.1%
|
||
Brooks Automation, 1st Lien Term Loan B (12-MONTH CME TERM SOFR + 3.10%), 7.95%, 2/1/2029
|
1,416,152
|
1,417,922
|
Vertiv Group Corp., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.50%), 7.93%, 3/2/2027
|
1,233,654
|
1,237,824
|
|
|
2,655,746
|
Software — 0.2%
|
||
AthenaHealth, Inc., 1st Lien Term Loan (1-MONTH CME TERM SOFR + 3.25%), 8.58%, 2/15/2029
|
498,731
|
497,345
|
Camelot U.S. Acquisition LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.75%),
8.08%, 1/31/2031
|
1,000,000
|
1,000,250
|
CDK Global, Inc., 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 3.25%), 8.58%, 7/6/2029
|
825,000
|
831,328
|
Genesys Cloud Services Holdings, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.50%),
8.82%, 12/1/2027
|
1,571,145
|
1,581,530
|
Ultimate Software Group, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.50%), 8.82%,
2/10/2031 (n)
|
1,185,000
|
1,193,437
|
|
|
5,103,890
|
Specialty Retail — 0.1%
|
||
AppleCaramel Buyer LLC, 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 3.75%), 9.08%,
10/19/2027
|
494,937
|
496,902
|
Petco Health & Wellness Co., Inc., Term Loan B (3-MONTH CME TERM SOFR + 3.25%), 8.82%,
3/3/2028
|
820,342
|
740,506
|
PrimeSource, 1st Lien Term Loan B (3-MONTH CME TERM SOFR + 3.25%), 8.81%, 12/28/2027
|
269,305
|
266,249
|
|
|
1,503,657
|
Wireless Telecommunication Services — 0.1%
|
||
Iridium Communications, Inc., 1st Lien Term Loan B (1-MONTH CME TERM SOFR + 2.50%),
7.83%, 9/20/2030
|
1,042,887
|
1,043,607
|
Total Loan Assignments
(Cost $43,618,390)
|
|
43,628,502
|
Foreign Government Securities — 1.0%
|
||
Arab Republic of Egypt
|
|
|
7.60%, 3/1/2029 (h)
|
900,000
|
837,900
|
7.63%, 5/29/2032 (h)
|
600,000
|
513,150
|
7.30%, 9/30/2033 (h)
|
400,000
|
328,612
|
8.50%, 1/31/2047 (h)
|
850,000
|
661,937
|
8.88%, 5/29/2050 (h)
|
500,000
|
403,880
|
Benin Government Bond 7.96%, 2/13/2038 (a)
|
320,000
|
300,186
|
Dominican Republic Government Bond
|
|
|
5.50%, 2/22/2029 (h)
|
400,000
|
385,625
|
6.00%, 2/22/2033 (a)
|
900,000
|
871,312
|
6.40%, 6/5/2049 (h)
|
900,000
|
839,531
|
Federal Republic of Nigeria
|
|
|
6.50%, 11/28/2027 (h)
|
1,000,000
|
933,580
|
7.14%, 2/23/2030 (h)
|
200,000
|
176,106
|
8.75%, 1/21/2031 (h)
|
500,000
|
471,170
|
7.38%, 9/28/2033 (a)
|
300,000
|
249,873
|
Federative Republic of Brazil
|
|
|
4.75%, 1/14/2050
|
700,000
|
504,000
|
7.13%, 5/13/2054
|
915,000
|
893,497
|
Finance Department Government of Sharjah 6.13%, 3/6/2036 (a)
|
786,000
|
778,580
|
Gabonese Republic 6.95%, 6/16/2025 (h)
|
500,000
|
471,300
|
Hashemite Kingdom of Jordan 7.38%, 10/10/2047 (h)
|
200,000
|
174,122
|
Hungary Government Bond
|
|
|
5.50%, 6/16/2034 (a)
|
200,000
|
193,038
|
6.75%, 9/25/2052 (a)
|
200,000
|
212,414
|
Istanbul Metropolitan Municipality 10.50%, 12/6/2028 (a)
|
500,000
|
536,250
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
PRINCIPAL
AMOUNT($)
|
VALUE($)
|
Foreign Government Securities — continued
|
||
Kingdom of Bahrain 5.45%, 9/16/2032 (a)
|
600,000
|
552,726
|
Kingdom of Morocco 6.50%, 9/8/2033 (h)
|
200,000
|
203,915
|
Kingdom of Saudi Arabia 5.75%, 1/16/2054 (a)
|
1,000,000
|
964,970
|
Republic of Angola 8.25%, 5/9/2028 (a)
|
1,000,000
|
942,590
|
Republic of Colombia
|
|
|
8.00%, 11/14/2035
|
400,000
|
407,800
|
8.75%, 11/14/2053
|
1,000,000
|
1,045,500
|
Republic of Costa Rica
|
|
|
6.55%, 4/3/2034 (a)
|
400,000
|
409,000
|
7.30%, 11/13/2054 (a)
|
800,000
|
837,250
|
Republic of Cote d'Ivoire
|
|
|
6.13%, 6/15/2033 (h)
|
900,000
|
799,965
|
8.25%, 1/30/2037 (a)
|
202,000
|
196,395
|
Republic of Guatemala 6.60%, 6/13/2036 (a)
|
300,000
|
300,562
|
Republic of Iraq 5.80%, 1/15/2028 (h)
|
400,000
|
379,444
|
Republic of Panama 7.88%, 3/1/2057
|
279,000
|
286,672
|
Republic of Paraguay
|
|
|
6.00%, 2/9/2036 (a)
|
970,000
|
963,210
|
6.10%, 8/11/2044 (h)
|
200,000
|
189,813
|
5.60%, 3/13/2048 (h)
|
300,000
|
264,750
|
5.40%, 3/30/2050 (h)
|
2,100,000
|
1,797,600
|
Republic of Philippines 5.60%, 5/14/2049
|
1,170,000
|
1,167,441
|
Republic of Poland
|
|
|
5.13%, 9/18/2034
|
199,000
|
194,136
|
5.50%, 3/18/2054
|
792,000
|
759,243
|
Republic of Senegal 6.75%, 3/13/2048 (h)
|
600,000
|
437,256
|
Republic of South Africa 7.30%, 4/20/2052
|
1,000,000
|
857,500
|
Republic of Turkey
|
|
|
9.88%, 1/15/2028
|
200,000
|
219,500
|
7.63%, 5/15/2034
|
1,344,000
|
1,347,226
|
Romania Government Bond
|
|
|
6.38%, 1/30/2034 (a)
|
424,000
|
422,660
|
7.63%, 1/17/2053 (a)
|
600,000
|
650,760
|
State of Israel Government Bond 5.75%, 3/12/2054
|
766,000
|
694,050
|
State of Mongolia 8.65%, 1/19/2028 (h)
|
400,000
|
418,250
|
Sultanate of Oman Government Bond 7.00%, 1/25/2051 (a)
|
1,800,000
|
1,871,514
|
Turkiye Ihracat Kredi Bankasi A/S 9.38%, 1/31/2026 (a)
|
400,000
|
417,348
|
United Mexican States 6.34%, 5/4/2053
|
200,000
|
190,938
|
Total Foreign Government Securities
(Cost $31,593,148)
|
|
30,926,047
|
Municipal Bonds — 0.0% (o) ^
|
||
Ohio — 0.0% ^
|
||
Ohio University, General Receipts, Federally Taxable Rev., 5.59%, 12/1/2114
|
25,000
|
24,192
|
Texas — 0.0% ^
|
||
Texas Natural Gas Securitization Finance Corp., Customer Rate Relief Bonds Series
2023A-2, Rev., 5.17%, 4/1/2041
|
45,000
|
44,627
|
Total Municipal Bonds
(Cost $77,765)
|
|
68,819
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
INVESTMENTS
|
SHARES
|
VALUE($)
|
Common Stocks — 0.0% ^
|
||
Diversified Telecommunication Services — 0.0% ^
|
||
Windstream Holdings, Inc. ‡ *
|
16
|
216
|
Health Care Providers & Services — 0.0% ^
|
||
Envision Healthcare Corp. ‡ *
|
18
|
138
|
Oil, Gas & Consumable Fuels — 0.0% ^
|
||
Chesapeake Energy Corp.
|
185
|
16,822
|
Specialty Retail — 0.0% ^
|
||
NMG, Inc. ‡ *
|
1
|
125
|
Wireless Telecommunication Services — 0.0% ^
|
||
Intelsat SA (Luxembourg) ‡ *
|
270
|
9,720
|
Total Common Stocks
(Cost $10,146)
|
|
27,021
|
Preferred Stocks — 0.0% ^
|
||
Broadline Retail — 0.0% ^
|
||
MYT Holding LLC Series A, 10.00%, 6/6/2029 ‡
(Cost $2,753)
|
2,868
|
1,859
|
|
NO. OF
WARRANTS
|
|
Warrants — 0.0% ^
|
||
Media — 0.0% ^
|
||
Nmg Research Ltd. expiring 9/24/2027, price 1.00 USD (United Kingdom) ‡ *
(Cost $1)
|
78
|
1,034
|
|
SHARES
|
|
Short-Term Investments — 13.3%
|
||
Investment Companies — 13.3%
|
||
JPMorgan U.S. Government Money Market Fund Class IM Shares, 5.26% (p) (q)
(Cost $418,609,445)
|
418,609,445
|
418,609,445
|
Total Investments — 105.7%
(Cost $3,347,338,572)
|
|
3,318,352,264
|
Liabilities in Excess of Other Assets — (5.7)%
|
|
(179,606,182
)
|
NET ASSETS — 100.0%
|
|
3,138,746,082
|
Percentages indicated are based on net assets.
|
Abbreviations
|
|
ABS
|
Asset-Backed Securities
|
ACES
|
Alternative Credit Enhancement Securities
|
ARM
|
Adjustable Rate Mortgage. The interest rate shown is the rate in effect as of May
31, 2024.
|
CME
|
Chicago Mercantile Exchange
|
CSMC
|
Credit Suisse Mortgage Trust
|
EURIBOR
|
Euro Interbank Offered Rate
|
FHLMC
|
Federal Home Loan Mortgage Corp.
|
FNMA
|
Federal National Mortgage Association
|
FRN
|
Floating Rate Note
|
GNMA
|
Government National Mortgage Association
|
ICE
|
Intercontinental Exchange
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
IO
|
Interest Only represents the right to receive the monthly interest payments on an
underlying pool of mortgage loans. The principal amount shown
represents the par value on the underlying pool. The yields on these securities are
subject to accelerated principal paydowns as a result of prepayment or
refinancing of the underlying pool of mortgage instruments. As a result, interest
income may be reduced considerably.
|
PIK
|
Payment In Kind
|
PO
|
Principal Only represents the right to receive the principal portion only on an underlying
pool of mortgage loans. The market value of these securities is
extremely volatile in response to changes in market interest rates. As prepayments
on the underlying mortgages of these securities increase, the yield on
these securities increases.
|
PT
|
Limited liability company
|
REIT
|
Real Estate Investment Trust
|
REMIC
|
Real Estate Mortgage Investment Conduit
|
Re-REMIC
|
Combined Real Estate Mortgage Investment Conduit
|
Rev.
|
Revenue
|
SCA
|
Limited partnership with share capital
|
SOFR
|
Secured Overnight Financing Rate
|
SOFRINDX
|
Compounding index of the Secured Overnight Financing Rate
|
STRIPS
|
Separate Trading of Registered Interest and Principal of Securities. The STRIPS Program
lets investors hold and trade individual interest and principal
components of eligible notes and bonds as separate securities.
|
TBA
|
To Be Announced; Security is subject to delayed delivery.
|
UMBS
|
Uniform Mortgage-Backed Securities
|
USD
|
United States Dollar
|
^
|
Amount rounds to less than 0.1% of net assets.
|
|
‡
|
Value determined using significant unobservable inputs.
|
|
*
|
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)
|
Defaulted security.
|
|
(c)
|
Security has the ability to pay in kind (“PIK”) or pay income in cash. When applicable, separate rates of such payments are disclosed.
|
|
(d)
|
Variable or floating rate security, linked to the referenced benchmark. The interest
rate shown is the current rate as of May 31, 2024.
|
|
(e)
|
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 $10,604,778 or 0.34% of the Fund’s net
assets as of May 31, 2024.
|
|
(f)
|
Security is an interest bearing note with preferred security characteristics.
|
|
(g)
|
Security is perpetual and thus, does not have a predetermined maturity date. The coupon
rate for this security is fixed for a period of time
and may be structured to adjust thereafter. The date shown, if applicable, reflects
the next call date. The coupon rate shown is the rate in
effect as of May 31, 2024.
|
|
(h)
|
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.
|
|
(i)
|
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.
|
|
(j)
|
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.
|
|
(k)
|
All or a portion of the security is a when-issued security, delayed delivery security,
or forward commitment.
|
|
(l)
|
The rate shown is the effective yield as of May 31, 2024.
|
|
(m)
|
Loan assignments are presented by obligor. Each series or loan tranche underlying
each obligor may have varying terms.
|
|
(n)
|
All or a portion of this security is unsettled as of May 31, 2024. Unless otherwise
indicated, the coupon rate is undetermined. The coupon
rate shown may not be accrued for the entire position.
|
|
(o)
|
The date shown represents the earliest of the prerefunded date, next put date or final
maturity date.
|
|
(p)
|
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.
|
|
(q)
|
The rate shown is the current yield as of May 31, 2024.
|
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
Futures contracts outstanding as of May 31, 2024:
DESCRIPTION
|
NUMBER OF
CONTRACTS
|
EXPIRATION DATE
|
TRADING CURRENCY
|
NOTIONAL
AMOUNT ($)
|
VALUE AND
UNREALIZED
APPRECIATION
(DEPRECIATION) ($)
|
Long Contracts
|
|
|
|
|
|
U.S. Treasury 10 Year Note
|
493
|
09/19/2024
|
USD
|
53,721,594
|
3,636
|
U.S. Treasury 10 Year Ultra Note
|
2
|
09/19/2024
|
USD
|
224,594
|
(1,035
)
|
U.S. Treasury Long Bond
|
358
|
09/19/2024
|
USD
|
41,707,000
|
(64,465
)
|
U.S. Treasury Ultra Bond
|
1,130
|
09/19/2024
|
USD
|
138,742,813
|
(1,788,010
)
|
U.S. Treasury 2 Year Note
|
595
|
09/30/2024
|
USD
|
121,268,438
|
97,496
|
U.S. Treasury 5 Year Note
|
2,171
|
09/30/2024
|
USD
|
230,024,234
|
328,686
|
|
|
|
|
|
(1,423,692
)
|
Short Contracts
|
|
|
|
|
|
U.S. Treasury 10 Year Ultra Note
|
(8
)
|
09/19/2024
|
USD
|
(898,375
)
|
108
|
|
|
|
|
|
(1,423,584
)
|
Abbreviations
|
|
USD
|
United States Dollar
|
Forward foreign currency exchange contracts outstanding as of May 31, 2024:
CURRENCY
PURCHASED
|
CURRENCY
SOLD
|
COUNTERPARTY
|
SETTLEMENT
DATE
|
UNREALIZED
APPRECIATION
(DEPRECIATION) ($)
|
||
EUR
|
7,960,838
|
USD
|
8,608,386
|
Morgan Stanley
|
6/5/2024
|
29,851
|
Total unrealized appreciation
|
29,851
|
|||||
USD
|
8,548,396
|
EUR
|
7,960,838
|
Goldman Sachs International
|
6/5/2024
|
(89,841
)
|
USD
|
8,619,077
|
EUR
|
7,960,838
|
Morgan Stanley
|
7/3/2024
|
(30,223
)
|
Total unrealized depreciation
|
(120,064
)
|
|||||
Net unrealized depreciation
|
(90,213
)
|
Abbreviations
|
|
EUR
|
Euro
|
USD
|
United States Dollar
|
Over-the-Counter ("OTC") Credit default swap contracts outstanding — buy protection (*) as of May 31, 2024:
REFERENCE
OBLIGATION/INDEX
|
FINANCING
RATE PAID
BY THE FUND
(%)
|
PAYMENT
FREQUENCY
|
COUNTERPARTY
|
MATURITY
DATE
|
IMPLIED
CREDIT
SPREAD
(%)(a)
|
NOTIONAL
AMOUNT(b)
|
UPFRONT
PAYMENTS
(RECEIPTS)
($)(c)
|
UNREALIZED
APPRECIATION
(DEPRECIATION)
($)
|
VALUE
($)
|
Bank of America Corp.,
3.50%, 4/19/2026
|
1.00
|
Quarterly
|
Morgan Stanley
|
6/20/2028
|
0.41
|
USD2,300,000
|
15,579
|
(70,798
)
|
(55,219
)
|
Bank of America Corp.,
3.50%, 4/19/2026
|
1.00
|
Quarterly
|
Morgan Stanley
|
6/20/2028
|
0.41
|
USD3,000,000
|
18,142
|
(90,169
)
|
(72,027
)
|
Bank of America Corp.,
3.50%, 4/19/2026
|
1.00
|
Quarterly
|
Morgan Stanley
|
6/20/2028
|
0.41
|
USD2,900,000
|
8,267
|
(77,893
)
|
(69,626
)
|
Bank of America Corp.,
3.50%, 4/19/2026
|
1.00
|
Quarterly
|
Morgan Stanley
|
6/20/2028
|
0.41
|
USD210,000
|
1,793
|
(6,835
)
|
(5,042
)
|
|
|
|
|
|
|
|
43,781
|
(245,695
)
|
(201,914
)
|
(*)
|
The Fund, as a buyer of credit protection, is generally obligated to make periodic
payments and may also pay or receive an upfront premium
to or from the protection seller, in exchange for the right to receive a contingent
payment, upon occurrence of a credit event with respect to
an underlying reference obligation, as defined under the terms of individual swap
contracts.
|
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
(a)
|
Implied credit spreads are an indication of the seller's performance risk, related
to the likelihood of a credit event occurring that would require a seller to
make payment to a buyer. Implied credit spreads are used to determine the value of
swap contracts and reflect the cost of buying/selling protection, which
may include upfront payments made to enter into the contract. Therefore, higher spreads
would indicate a greater likelihood that a seller will be obligated
to perform (i.e. make payment) under the swap contract. Increasing values, in absolute
terms and relative to notional amounts, are also indicative of
greater performance risk. Implied credit spreads for credit default swaps on credit
indices are linked to the weighted average spread across the underlying
reference obligations included in a particular index.
|
||||||||
(b)
|
The notional amount is the maximum amount that a seller of credit protection would
be obligated to pay and a buyer of credit protection would receive,
upon occurrence of a credit event.
|
||||||||
(c)
|
Upfront payments and receipts generally represent premiums paid or received at the
initiation of the agreement to compensate the differences between
the stated terms of the swap agreement and current market conditions (credit spreads,
interest rates and other relevant factors).
|
||||||||
Abbreviations
|
|
|
|
|
|
|
|
|
|
USD
|
United States Dollar
|
|
|
|
|
|
|
|
|
Summary of total OTC swap contracts outstanding as of May 31, 2024:
|
NET UPFRONT
PAYMENTS
(RECEIPTS)
($)
|
VALUE
($)
|
Liabilities
|
|
|
OTC Credit default swap contracts outstanding - buy protection
|
43,781
|
(201,914
)
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
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.
A market-based approach is primarily used to value the Fund's investments. Investments
for which market quotations are not readily available are fair valued using prices supplied by approved affiliated and/or unaffiliated pricing
vendors or third party broker-dealers (collectively referred to as “Pricing Services”), or may be internally fair valued using methods set forth by the valuation policies approved by the Board. This may include the use of related or comparable assets or liabilities, recent transactions,
market multiples, book values and other relevant information for the investment. An income-based valuation approach may be used in
which the anticipated future cash flows of the investment are discounted to calculate the fair value. Discounts may also be applied due to the
nature or duration of any restrictions on the disposition of the investments. Valuations may be based upon current market prices of securities
that are comparable in coupon, rating, maturity and industry. It is possible that the estimated values may differ significantly from the
values that would have been used had a ready market for the investments existed, and such differences could be material.
Fixed income instruments are valued based on prices received from 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. Certain foreign equity instruments are valued by applying international fair value factors provided by approved
Pricing Services. The factors seek to adjust the local closing price for movements of local markets post-closing, but prior to the time the
NAVs are calculated.
Investments in open-end investment companies (“Underlying Funds”) are valued at each Underlying Fund’s NAV per share as of the report date.
Futures contracts are generally valued on the basis of available market quotations.
Swaps and forward foreign currency exchange contracts are valued utilizing market quotations from approved Pricing Services.
See the table on “Quantitative Information about Level 3 Fair Value Measurements” for information on the valuation techniques and inputs used to value level 3 securities held by the Fund at May 31, 2024.
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).
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO 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
|
|
|
|
|
Asset-Backed Securities
|
$—
|
$457,756,168
|
$36,259,697
|
$494,015,865
|
Collateralized Mortgage Obligations
|
—
|
90,002,032
|
12,213,732
|
102,215,764
|
Commercial Mortgage-Backed Securities
|
—
|
178,396,361
|
27,215,665
|
205,612,026
|
Common Stocks
|
|
|
|
|
Diversified Telecommunication Services
|
—
|
—
|
216
|
216
|
Health Care Providers & Services
|
—
|
—
|
138
|
138
|
Oil, Gas & Consumable Fuels
|
16,822
|
—
|
—
|
16,822
|
Specialty Retail
|
—
|
—
|
125
|
125
|
Wireless Telecommunication Services
|
—
|
—
|
9,720
|
9,720
|
Total Common Stocks
|
16,822
|
—
|
10,199
|
27,021
|
Corporate Bonds
|
—
|
895,868,612
|
—
|
895,868,612
|
Foreign Government Securities
|
—
|
30,926,047
|
—
|
30,926,047
|
Loan Assignments
|
—
|
43,628,502
|
—
|
43,628,502
|
Mortgage-Backed Securities
|
—
|
851,024,438
|
10,191,741
|
861,216,179
|
Municipal Bonds
|
—
|
68,819
|
—
|
68,819
|
Preferred Stocks
|
—
|
—
|
1,859
|
1,859
|
U.S. Treasury Obligations
|
—
|
266,161,091
|
—
|
266,161,091
|
Warrants
|
—
|
—
|
1,034
|
1,034
|
Short-Term Investments
|
|
|
|
|
Investment Companies
|
418,609,445
|
—
|
—
|
418,609,445
|
Total Investments in Securities
|
$418,626,267
|
$2,813,832,070
|
$85,893,927
|
$3,318,352,264
|
Appreciation in Other Financial Instruments
|
|
|
|
|
Forward Foreign Currency Exchange Contracts
|
$—
|
$29,851
|
$—
|
$29,851
|
Futures Contracts
|
429,926
|
—
|
—
|
429,926
|
Depreciation in Other Financial Instruments
|
|
|
|
|
Forward Foreign Currency Exchange Contracts
|
—
|
(120,064
)
|
—
|
(120,064
)
|
Futures Contracts
|
(1,853,510
)
|
—
|
—
|
(1,853,510
)
|
Swaps
|
—
|
(245,695
)
|
—
|
(245,695
)
|
Total Net Appreciation/ Depreciation in Other
Financial Instruments
|
$(1,423,584
)
|
$(335,908
)
|
$—
|
$(1,759,492
)
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
The following is a summary of investments for which significant unobservable inputs
(level 3) were used in determining fair value:
|
Balance as of
February 29,
2024
|
Realized
gain (loss)
|
Change in net
unrealized
appreciation
(depreciation)
|
Net
accretion
(amortization)
|
Purchases1
|
Sales2
|
Transfers
into
Level 3
|
Transfers
out of
Level 3
|
Balance as of
May 31,
2024
|
Investments
in
Securities:
|
|
|
|
|
|
|
|
|
|
Asset-Backed
Securities
|
$29,054,096
|
$—
|
$(206,615
)
|
$75,351
|
$6,854,042
|
$(3,676,659
)
|
$5,270,493
|
$(1,111,011
)
|
$36,259,697
|
Collateralized
Mortgage
Obligations
|
7,210,998
|
—
|
43,594
|
—
|
4,999,995
|
(40,855
)
|
—
|
—
|
12,213,732
|
Commercial
Mortgage-Backed
Securities
|
26,328,313
|
—
|
610,580
|
146,911
|
129,861
|
—
|
—
|
—
|
27,215,665
|
Common
Stocks
|
7,883
|
—
|
2,316
|
—
|
—
|
—
|
—
|
—
|
10,199
|
Corporate
Bonds
|
650,000
|
(230,971
)
|
285,397
|
1,342
|
—
|
(705,768
)
|
—
|
—
|
—
|
Mortgage-Backed
Securities
|
—
|
—
|
38,616
|
—
|
10,153,125
|
—
|
—
|
—
|
10,191,741
|
Preferred
Stocks
|
1,620
|
—
|
239
|
—
|
—
|
—
|
—
|
—
|
1,859
|
Warrants
|
1,034
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
1,034
|
Total
|
$63,253,944
|
$(230,971
)
|
$774,127
|
$223,604
|
$22,137,023
|
$(4,423,282
)
|
$5,270,493
|
$(1,111,011
)
|
$85,893,927
|
|
|||||||||
1
|
Purchases include all purchases of securities and securities received in corporate
actions.
|
||||||||
2
|
Sales include all sales of securities, maturities, paydowns and securities tendered
in corporate actions.
|
The changes in net unrealized appreciation (depreciation) attributable to securities
owned at May 31, 2024, which were valued using significant unobservable inputs (level 3) amounted to $586,245.
There were no significant transfers into or out of level 3 for the period ended May
31, 2024.
The significant unobservable inputs used in the fair value measurement of the Fund's
investments are listed below. Generally, a change in the assumptions used in any input in isolation may be accompanied by a change in another
input. Significant changes in any of the unobservable inputs may significantly impact the fair value measurement. The impact is based on
the relationship between each unobservable input and the fair value measurement. Significant increases (decreases) in enterprise multiples
may increase (decrease) the fair value measurement. Significant increases (decreases) in the discount for lack of marketability, liquidity discount,
probability of default, yield and default rate may decrease (increase) the fair value measurement. A significant change in the discount
rate or prepayment rate (Constant Prepayment Rate or PSA Prepayment Model) may decrease or increase the fair value measurement.
Quantitative Information about Level 3 Fair Value Measurements #
|
Fair Value at
May 31, 2024
|
Valuation
Technique(s)
|
Unobservable
Input
|
Range (Weighted
Average) (a)
|
|
$19,182,302
|
Discounted Cash Flow
|
Constant Prepayment Rate
|
0.00% - 30.00% (13.67%)
|
|
|
Constant Default Rate
|
|
0.00% - 60.00% (1.94%)
|
|
|
Yield (Discount Rate of Cash Flows)
|
|
6.13% - 22.50% (8.24%)
|
|
|
|
|
|
Asset-Backed Securities
|
19,182,302
|
|
|
|
|
6,475,625
|
Discounted Cash Flow
|
Yield (Discount Rate of Cash Flows)
|
7.76% - 8.81% (8.00%)
|
|
|
|
|
|
|
6,475,625
|
|
|
|
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
|
Fair Value at
May 31, 2024
|
Valuation
Technique(s)
|
Unobservable
Input
|
Range (Weighted
Average) (a)
|
Total
|
$25,657,927
|
|
|
|
#
|
The table above does not include certain level 3 investments that are valued by brokers
and Pricing Services. At May 31, 2024, the value of
these investments was $60,236,000. The inputs for these investments are not readily
available or cannot be reasonably estimated and are
generally those inputs described in Note A.
|
(a)
|
Unobservable inputs were weighted by the relative fair value of the instruments.
|
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)
|
$304,836,673
|
$363,328,494
|
$249,555,722
|
$—
|
$—
|
$418,609,445
|
418,609,445
|
$4,459,188
|
$—
|
|
|
(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.
|
C. Derivatives— The Fund used derivative instruments including options, futures contracts, forward
foreign currency exchange contracts and swaps, in connection with its investment strategy. Derivative instruments may
be used as substitutes for securities in which the Fund can invest, to hedge portfolio investments or to generate income or gain to the Fund.
Derivatives may also be used to manage duration, sector and yield curve exposures and credit and spread volatility.
The Fund may be subject to various risks from the use of derivatives, including the
risk that changes in the value of a derivative may not correlate perfectly with the underlying asset, rate or index; counterparty credit risk related to derivatives counterparties’ failure to perform under contract terms; liquidity risk related to the potential lack of a liquid market
for these contracts allowing a Fund to close out its position(s); and documentation risk relating to disagreement over contract terms. Investing in
certain derivatives also results in a form of leverage and as such, the Fund's risk of loss associated with these instruments may exceed
their value.
The Fund is party to various derivative contracts governed by International Swaps and Derivatives Association master agreements (“ISDA agreements”). The Fund's ISDA agreements, which are separately negotiated with each dealer counterparty, may contain provisions allowing, absent other considerations, a counterparty to exercise rights, to the extent not
otherwise waived, against the Fund in the event the Fund's net assets decline over time by a pre-determined percentage or fall below a pre-determined
floor. The ISDA agreements may also contain provisions allowing, absent other conditions, the Fund to exercise rights, to the
extent not otherwise waived, against a counterparty (e.g., decline in a counterparty’s credit rating below a specified level). Such rights for both a counterparty and the Fund often include the ability to terminate (i.e., close out) open contracts at prices which may favor a counterparty,
which could have an adverse effect on the Fund. The ISDA agreements give the Fund and a counterparty the right, upon an event of default,
to close out all transactions traded under such agreements and to net amounts owed or due across all transactions and offset such
net payable or receivable against collateral posted to a segregated account by one party for the benefit of the other.
Counterparty credit risk may be mitigated to the extent a counterparty posts additional
collateral for mark to market gains to the Fund.
Notes (1) — (3) below describe the various derivatives used by the Fund.
(1). Futures Contracts— The Fund used currency, index, interest rate, treasury or other financial futures
contracts to manage and hedge interest rate risk associated with portfolio investments and to gain or reduce exposure
to positive and negative price fluctuation or a particular countries or regions. The Fund also used futures contracts to lengthen or shorten
the duration of the overall investment portfolio. The Fund used commodity futures contracts to obtain long and short exposure to the underlying
commodities markets. The purchase of futures contracts will tend to increase the Fund's exposure to positive and negative price fluctuations
in the underlying instrument. The sales of futures contracts will tend to offset both positive and negative market price changes.
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
Futures contracts provide for the delayed delivery of the underlying instrument at
a fixed price or are settled for a cash amount based on the change in the value of the underlying instrument at a specific date in the future.
Upon entering into a futures contract, the Fund is required to deposit with the broker, cash or securities in an amount equal to a certain percentage
of the contract amount, which is referred to as the initial margin deposit. Subsequent payments, referred to as variation margin, are made or
received by the Fund periodically and are based on changes in the market value of open futures contracts. Changes in the market value
of open futures contracts are recorded as change in net unrealized appreciation/depreciation on futures contracts. Securities deposited as
initial margin are designated on the Schedule of Investments, while cash deposited is considered restricted.
The Fund may be exposed to the risk that the change in the value of the futures contract
may not correlate perfectly with the underlying instrument. Use of long futures contracts subject the Fund to risk of loss up to the
notional amount of the futures contracts. Use of short futures contracts subjects the Fund to unlimited risk of loss. The Fund may enter
into futures contracts only on exchanges or boards of trade. The exchange or board of trade acts as the counterparty to each futures transaction;
therefore, the Fund's credit risk is limited to failure of the exchange or board of trade. Under some circumstances, futures exchanges may establish
daily limits on the amount that the price of a futures contract can vary from the previous day’s settlement price, which could effectively prevent liquidation of positions.
The Fund's futures contracts are not subject to master netting arrangements (the right
to close out all transactions traded with a counterparty and net amounts owed or due across transactions).
(2). Forward Foreign Currency Exchange Contracts— The Fund is exposed to foreign currency risks associated with some or all of the
portfolio investments and used forward foreign currency exchange contracts to hedge
or manage certain of these exposures as part of an investment strategy. The Fund also bought forward foreign currency exchange contracts
to gain exposure to currencies. Forward foreign currency exchange contracts represent obligations to purchase or sell foreign currency
on a specified future date at a price fixed at the time the contracts are entered into. Non-deliverable forward foreign currency exchange
contracts are settled with the counterparty in U.S. dollars without the delivery of the foreign currency.
The values of the forward foreign currency exchange contracts are adjusted daily based
on the applicable exchange rate of the underlying currency. Changes in the value of these contracts are recorded as unrealized appreciation
or depreciation until the contract settlement date. When the forward foreign currency exchange contract is closed, the Fund records a
realized gain or loss equal to the difference between the value at the time the contract was opened and the value at the time it was closed.
The Fund also records a realized gain or loss, upon settlement, when a forward foreign currency exchange contract offsets another forward
foreign currency exchange contract with the same counterparty.
The Fund's forward foreign currency exchange contracts are subject to master netting
arrangements (the right to close out all transactions with a counterparty and net amounts owed or due across transactions).
The Fund may be required to post or receive collateral for non-deliverable forward
foreign currency exchange contracts.
(3). Swaps — The Fund engaged in various swap transactions to manage credit, interest rate (e.g.,
duration, yield curve), currency, inflation and total return risks within its portfolio. The Fund also used swaps as alternatives
to direct investments. Swap transactions are contracts negotiated over-the-counter (“OTC swaps”) between the Fund and a counterparty or are centrally cleared (“centrally cleared swaps”) through a central clearinghouse managed by a Futures Commission Merchant (“FCM”) that exchange investment cash flows, assets, foreign currencies or market-linked returns at specified, future intervals.
Upfront payments made and/or received by the Fund are recorded as assets or liabilities,
respectively, and amortized over the term of the swap. The value of an OTC swap agreement is recorded at the beginning of the measurement
period. Upon entering into a centrally cleared swap, the Fund is required to deposit with the FCM cash or securities, which is referred
to as initial margin deposit. Securities deposited as initial margin are designated on the Schedule of Investments, while cash deposited
is considered restricted. The change in the value of swaps, including accruals of periodic amounts of interest to be paid or received on swaps,
is reported as change in net unrealized appreciation/depreciation on swaps. A realized gain or loss is recorded upon payment or receipt of a periodic
payment or payment made upon termination of a swap agreement.
The Fund may be required to post or receive collateral based on the net value of the
Fund's outstanding OTC swap contracts with the counterparty in the form of cash or securities. Daily movement of cash collateral
is subject to minimum threshold amounts. Collateral posted by the Fund is held in a segregated account at the Fund's custodian bank.
The central clearinghouse acts as the counterparty to each centrally cleared swap
transaction; therefore credit risk is limited to the failure of the clearinghouse.
The Fund's swap contracts (excluding centrally cleared swaps) are subject to master
netting arrangements.
Credit Default Swaps
JPMorgan Core Plus Bond ETF
AS OF May 31, 2024 (Unaudited) (continued)
SCHEDULE OF PORTFOLIO INVESTMENTS
The Fund entered into credit default swaps to simulate long and/or short bond positions
or to take an active long and/or short position with respect to the likelihood of a default or credit event by the issuer of the underlying
reference obligation.
The underlying reference obligation may be a single issuer of corporate or sovereign
debt, a basket of issuers or a credit index. A credit index is a list of credit instruments or exposures that reference a fixed number of obligors
with shared characteristics that represents some part of the credit market as a whole. Index credit default swaps have standardized terms including
a fixed spread and standard maturity dates. The composition of the obligations within a particular index changes periodically.
Credit default swaps involve one party, the protection buyer, making a stream of payments
to another party, the protection seller, in exchange for the right to receive a contingent payment if there is a credit event related to
the underlying reference obligation. In the event that the reference obligation matures prior to the termination date of the contract, a similar
security will be substituted for the duration of the contract term. Credit events are defined under individual swap agreements and generally include
bankruptcy, failure to pay, restructuring, repudiation/moratorium, obligation acceleration and obligation default.
If a credit event occurs, the Fund, as a protection seller, would be obligated to
make a payment, which may be either: (i) a net cash settlement equal to the notional amount of the swap less the auction value of the reference
obligation or (ii) the notional amount of the swap in exchange for the delivery of the reference obligation. Selling protection effectively
adds leverage to the Fund's portfolio up to the notional amount of swap agreements. The notional amount represents the maximum potential liability
under a contract. Potential liabilities under these contracts may be reduced by: the auction rates of the underlying reference obligations;
upfront payments received at the inception of a swap; and net amounts received from credit default swaps purchased with the identical reference
obligation.