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Trending ETFs

JPMorgan Equity Premium Income ETF

Active ETF
JEPI
Payout Change
Pending
Price as of:
$60.03 +0.36 +0.6%
primary theme
N/A
JEPI (ETF)

JPMorgan Equity Premium Income ETF

Payout Change
Pending
Price as of:
$60.03 +0.36 +0.6%
primary theme
N/A
JEPI (ETF)

JPMorgan Equity Premium Income ETF

Payout Change
Pending
Price as of:
$60.03 +0.36 +0.6%
primary theme
N/A

Name

As of 11/08/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$60.03

$32.8 B

7.50%

$4.50

0.35%

Vitals

YTD Return

15.9%

1 yr return

21.3%

3 Yr Avg Return

8.5%

5 Yr Avg Return

N/A

Net Assets

$32.8 B

Holdings in Top 10

15.7%

52 WEEK LOW AND HIGH

$59.7
$54.18
$60.03

Expenses

OPERATING FEES

Expense Ratio 0.35%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 11/08/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$60.03

$32.8 B

7.50%

$4.50

0.35%

JEPI - Profile

Distributions

  • YTD Total Return 15.9%
  • 3 Yr Annualized Total Return 8.5%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 8.89%
DIVIDENDS
  • Dividend Yield 7.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    JPMorgan Equity Premium Income ETF
  • Fund Family Name
    JPMorgan Funds
  • Inception Date
    May 20, 2020
  • Shares Outstanding
    169324869
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Hamilton Reiner

Fund Description

The investment objective of the Fund is to seek current income while maintaining prospects for capital appreciation. The Fund seeks to achieve this objective by (1) creating an actively managed portfolio of equity securities comprised significantly of those included in the Fund’s primary benchmark, the Standard & Poor’s 500 Total Return Index (S&P 500 Index) and (2) through equity-linked notes (ELNs), selling call options with exposure to the S&P 500 Index. The resulting Fund is designed to provide investors with performance that captures a majority of the returns associated with the S&P 500 Index, while exposing investors to lower volatility than the S&P 500 Index and also providing incremental income. The Fund is managed in a way that seeks, under normal circumstances, to provide monthly distributions at a relatively stable level. Under normal circumstances, the Fund invests at least 80% of its Assets in equity securities (80% Policy). “Assets” means net assets plus the amount of borrowings for investment purposes. In calculating the 80% Policy, the Fund’s equity investments will include common stocks and ELNs, as well as other equity securities.In implementing the Fund’s strategy, the Fund invests significantly in the equity securities of companies included in the S&P 500 Index (which includes both large cap and mid cap companies). The Fund may also invest in other equity securities not included in the S&P 500 Index. The Fund may receive income to the extent it invests in equity securities of companies that pay dividends; however, securities are not selected based on anticipated dividend payments.The Fund seeks a lower volatility level than the S&P 500 Index. Volatility is one way to measure risk and refers to the variability of the Fund’s or the market’s returns. If the Fund is successful in providing lower volatility, then the value of the Fund’s portfolio will fluctuate less than the S&P 500 Index over a full market cycle (typically, a 3-5 year time horizon).In order to generate income, the Fund may invest up to 20% of its net assets in ELNs. ELNs are structured as notes that are issued by counterparties, including banks, broker-dealers or their affiliates, and that are designed to offer a return linked to the underlying instruments within the ELN. ELNs in which the Fund invests are derivative instruments that are specially designed to combine the economic characteristics of the S&P 500 Index and written call options in a single note form and are not traded on an exchange. The options underlying the ELNs will be based on the Benchmark or on exchange-traded funds (ETFs) that replicate the S&P 500 Index. Selling a call option entitles the seller to a premium equal to the value of the option at the time of trade. The ELNs owned by the Fund are structured to use a covered call strategy and have short call positions embedded within them. When the Fund purchases the ELN from the issuing counterparty, the Fund is entitled to the premium generated by the short call position within the ELN. Therefore, the ELNs provide recurring cash flow to the Fund based on the premiums received from selling the call options and are an important source of the Fund’s return. When the Fund sells call options within an ELN, it receives a premium but limits its opportunity to profit from an increase in the market value of either the underlying benchmark or ETF to the exercise price (plus the premium received). The maximum potential gain on an underlying instrument will be equal to the difference between the exercise price and the purchase price of the underlying benchmark or ETF at the time the option is written, plus the premium received. Investing in ELNs may also reduce the Fund’s volatility because the income from the ELNs would reduce potential losses incurred by the Fund’s equity portfolio. The ELNs are reset periodically to seek to better capitalize on current market conditions and opportunities; these resets assist the Fund in seeking to provide relatively stable returns.Investment Process: In managing the equity portion of the Fund’s portfolio, the adviser employs a three-step process that combines research, valuation and stock selection. The research findings allow the adviser to rank companies according to what it believes to be their relative value. The greater a company’s estimated worth compared to the current market price of its stock, the more undervalued the company. The adviser’s valuation rankings are produced with the help of a variety of models that quantify the research team’s findings. After company securities are ranked, the adviser seeks to create a portfolio with a lower volatility level than the S&P 500 Index.As part of its investment process, the adviser seeks to assess the impact of environmental, social and governance (ESG) factors on many issuers in the universe in which the Fund may invest. The adviser’s assessment is based on an analysis of key opportunities and risks across industries to seek to identify financially material issues with respect to the Fund’s investments in securities and ascertain key issues that merit engagement with issuers. These assessments may not be conclusive, and securities of issuers that may be negatively impacted by such factors may be purchased and retained by the Fund while the Fund may divest or not invest in securities of issuers that may be positively impacted by such factors.The Fund buys and sells securities (stock selection) in accordance with its investment policies, using the research and valuation rankings as a basis. In general, the adviser selects securities that are identified as attractive and considers selling them when they appear less attractive. Along with attractive valuation, the adviser often considers a number of other criteria including:catalysts, such as improving company fundamentals, that could trigger a rise in a stock’s priceimpact on the overall risk of the portfoliohigh perceived potential reward compared to perceived potential riskpossible temporary mispricings caused by market over- reactionsThe Fund’s investment strategies may involve active and frequent trading resulting in high portfolio turnover.
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JEPI - Performance

Return Ranking - Trailing

Period JEPI Return Category Return Low Category Return High Rank in Category (%)
YTD 15.9% -2.8% 240.8% 38.34%
1 Yr 21.3% -4.3% 140.6% N/A
3 Yr 8.5%* -8.3% 18.3% N/A
5 Yr N/A* -5.0% 17.3% N/A
10 Yr N/A* -4.6% 13.2% N/A

* Annualized

Return Ranking - Calendar

Period JEPI Return Category Return Low Category Return High Rank in Category (%)
2023 0.9% -34.1% 904.0% N/A
2022 -13.8% -28.6% 438.4% N/A
2021 13.3% -93.5% 8.2% N/A
2020 N/A -38.9% 19.8% N/A
2019 N/A -10.9% 12.8% N/A

Total Return Ranking - Trailing

Period JEPI Return Category Return Low Category Return High Rank in Category (%)
YTD 15.9% -2.7% 244.0% 39.53%
1 Yr 21.3% -4.3% 140.6% N/A
3 Yr 8.5%* -8.3% 18.3% N/A
5 Yr N/A* -5.4% 17.3% N/A
10 Yr N/A* -4.6% 13.2% N/A

* Annualized

Total Return Ranking - Calendar

Period JEPI Return Category Return Low Category Return High Rank in Category (%)
2023 9.8% -34.1% 904.0% N/A
2022 -3.5% -5.9% 438.4% N/A
2021 21.5% -81.2% 8.2% N/A
2020 N/A -29.0% 19.8% N/A
2019 N/A -10.9% 12.8% N/A

JEPI - Holdings

Concentration Analysis

JEPI Category Low Category High JEPI % Rank
Net Assets 32.8 B 25 17.4 B 9.36%
Number of Holdings 133 2 508 26.34%
Net Assets in Top 10 5.3 B -6.66 M 5.12 B 18.70%
Weighting of Top 10 15.71% 11.3% 100.0% 85.33%

Top 10 Holdings

  1. Amazon.com, Inc. 1.72%
  2. Microsoft Corp. 1.72%
  3. Trane Technologies plc 1.62%
  4. Progressive Corp. (The) 1.61%
  5. Meta Platforms, Inc., Class A 1.61%
  6. Intuit, Inc. 1.57%
  7. Alphabet, Inc., Class A 1.53%
  8. Mastercard, Inc., Class A 1.46%
  9. Southern Co. (The) 1.45%
  10. AbbVie, Inc. 1.44%

Asset Allocation

Weighting Return Low Return High JEPI % Rank
Stocks
85.58% -3.92% 100.76% 74.43%
Convertible Bonds
15.27% 0.00% 20.91% 0.76%
Bonds
13.50% 0.00% 97.96% 72.14%
Cash
0.92% -0.76% 100.29% 42.75%
Other
0.00% 0.00% 45.92% 77.86%
Preferred Stocks
0.00% 0.00% 3.08% 70.99%

Stock Sector Breakdown

Weighting Return Low Return High JEPI % Rank
Industrials
15.40% 1.41% 43.91% 10.92%
Healthcare
14.90% 0.00% 25.91% 77.73%
Financial Services
14.23% 0.00% 29.60% 42.44%
Consumer Defense
13.91% 0.00% 22.87% 1.26%
Utilities
9.81% 0.00% 13.35% 0.84%
Technology
9.12% 0.00% 44.43% 85.29%
Consumer Cyclical
6.18% 0.00% 19.02% 90.34%
Communication Services
5.73% 0.00% 21.22% 78.15%
Basic Materials
3.97% 0.00% 60.58% 23.95%
Energy
3.39% 0.00% 69.54% 92.86%
Real Estate
3.35% 0.00% 9.74% 12.18%

Stock Geographic Breakdown

Weighting Return Low Return High JEPI % Rank
US
85.58% -3.89% 100.00% 62.21%
Non US
0.00% -2.17% 99.33% 27.86%

Bond Sector Breakdown

Weighting Return Low Return High JEPI % Rank
Corporate
93.17% 0.00% 91.57% 2.67%
Cash & Equivalents
0.65% 0.09% 100.00% 94.66%
Derivative
0.00% 0.00% 0.13% 71.37%
Securitized
0.00% 0.00% 22.63% 69.47%
Municipal
0.00% 0.00% 97.57% 69.47%
Government
0.00% 0.00% 99.91% 71.76%

Bond Geographic Breakdown

Weighting Return Low Return High JEPI % Rank
US
13.50% 0.00% 97.96% 72.52%
Non US
0.00% 0.00% 16.94% 70.23%

JEPI - Expenses

Operational Fees

JEPI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.35% 0.20% 6.78% 99.59%
Management Fee 0.35% 0.20% 1.75% 6.72%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.28% N/A

Sales Fees

JEPI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.75% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

JEPI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

JEPI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 456.80% 38.84%

JEPI - Distributions

Dividend Yield Analysis

JEPI Category Low Category High JEPI % Rank
Dividend Yield 7.50% 0.00% 3.76% 1.49%

Dividend Distribution Analysis

JEPI Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Annually

Net Income Ratio Analysis

JEPI Category Low Category High JEPI % Rank
Net Income Ratio 8.89% -2.54% 14.24% 2.05%

Capital Gain Distribution Analysis

JEPI Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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JEPI - Fund Manager Analysis

Managers

Hamilton Reiner


Start Date

Tenure

Tenure Rank

May 20, 2020

2.03

2.0%

Hamilton Reiner, a Managing Director of J.P. Morgan Investment Management, Inc., is responsible for implementing the Fund’s overlay options strategy and for providing insight with respect to the impact to the options strategy of purchasing certain securities. Mr. Reiner has been the head of U.S. Equity Derivatives at JPMIM since 2012. He joined JPMorgan Chase in 2009 and from 2009 to 2012, he was a portfolio manager and head of U.S. Equity Derivatives at JPMorgan Chase. Prior to joining the firm, Mr. Reiner was head of the Equity Long/Short Prime Brokerage platform at Barclays Capital.

Raffaele Zingone


Start Date

Tenure

Tenure Rank

May 20, 2020

2.03

2.0%

Raffaele Zingone, managing director, is a portfolio manager on the U.S. Disciplined Equity Team. An employee since 1991, Ralph is responsible for the Research Enhanced Index (REI) strategies. Prior to this role, he was a research analyst following the aerospace, environmental, and diversified manufacturing sectors. Upon joining the firm, he was a quantitative equity analyst and later served as a U.S. Equity portfolio manager in London and New York. Ralph received his B.A. in mathematics and economics from the College of the Holy Cross and his M.B.A. in finance from New York University. He is a CFA charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 19.77 3.61 5.67