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JPMorgan BetaBuilders MSCI US REIT ETF
ETF
BBRE
Payout Change
Pending
Price as of:
$81.69
-1.07
-1.29%
primary theme
Real Estate Sector Equity
BBRE (ETF)
JPMorgan BetaBuilders MSCI US REIT ETF
Payout Change
Pending
Price as of:
$81.69
-1.07
-1.29%
primary theme
Real Estate Sector Equity
BBRE (ETF)
JPMorgan BetaBuilders MSCI US REIT ETF
Payout Change
Pending
Price as of:
$81.69
-1.07
-1.29%
primary theme
Real Estate Sector Equity
Name
As of 04/16/2024Price
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
Vitals
YTD Return
-8.0%
1 yr return
2.7%
3 Yr Avg Return
-0.3%
5 Yr Avg Return
3.0%
Net Assets
$799 M
Holdings in Top 10
48.9%
52 WEEK LOW AND HIGH
$82.8
$72.63
$90.82
Expenses
OPERATING FEES
Expense Ratio 0.11%
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 04/16/2024Price
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
BBRE - Profile
Distributions
- YTD Total Return -8.0%
- 3 Yr Annualized Total Return -0.3%
- 5 Yr Annualized Total Return 3.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.96%
- Dividend Yield 4.6%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameJPMorgan BetaBuilders MSCI US REIT ETF
-
Fund Family NameJPMorgan Funds
-
Inception DateJun 15, 2018
-
Shares Outstanding12350005
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerOliver Furby
Fund Description
The Fund seeks investment results that closely correspond, before fees and expenses, to the performance of the MSCI US REIT Custom Capped Index (formerly known as the MSCI USA/REIT 25-50 Custom Index) (the Underlying Index). The Fund will invest at least 80% of its Assets in securities included in the Underlying Index. “Assets” means net assets, plus the amount of borrowing for investment purposes. The Underlying Index is a free-float adjusted market-cap weighted index designed to measure the performance of US equity real estate investment trust (REIT) securities. The Underlying Index is made up of the stocks of publicly traded US equity REITs, as determined by MSCI Inc., the index provider. To be included initially in the Underlying Index, an equity REIT must meet certain criteria established by the index provider, including meeting a minimum market capitalization threshold as well as a liquidity threshold based on a number of factors, including trading volume and frequency of trading. The Underlying Index includes a capping methodology which is designed to prevent the weight of any single issuer, and the aggregate weight of issuers representing over 5% of the Underlying Index, from exceeding a maximum of 25% of the Underlying Index. This capping methodology allows the Fund, in seeking to track the Underlying Index, to invest in a manner consistent with the Fund’s classification as a “diversified” fund under the Investment Company Act of 1940. Equity REITs in the Underlying Index tend to be small-and mid-cap stocks, and may include Health Care REITs, Hotel & Resort REITs, Industrial REITs, Office REITs, Residential REITs, Retail REITs, Diversified REITs and certain other REITs that do not fall into these categories, referred to as Specialized REITs. As of May 31, 2023, the market capitalization of the companies in the Underlying Index ranged from $303.25 million to $116.36 billion and the Underlying Index included 125 securities. REITs are pooled investment vehicles that invest primarily in income-producing real estate or loans related to real estate. Equity REITs invest the majority of their assets directly in real property and derive income primarily from the collection of rents and can also realize capital gains by selling property that has appreciated in value.Beta is a measure of the volatility of a security or a portfolio relative to a market benchmark. The term “BetaBuilders” in the Fund’s name conveys the intended outcome of providing investors with passive exposure and return that generally correspond to a market cap weighted benchmark. The Fund, along with other JPMorgan BetaBuilders Funds, can be used to help an investor build a portfolio of passive exposure to various markets.The Fund, using a “passive” or indexing investment approach, attempts to closely correspond to the performance of the Underlying Index. Unlike many investment companies, the Fund does not seek to outperform the Underlying Index and does not seek temporary defensive positions when markets decline or appear overvalued.The Fund’s intention is to replicate the constituent securities of the Underlying Index as closely as possible. “Replication” is a passive indexing strategy in which a fund invests in substantially all of the securities in its underlying index in approximately the same proportions as the underlying index. However, under various circumstances, it may not be possible or practicable to purchase or hold all of, or only, the constituent securities in their respective weightings in the Underlying Index. In these circumstances, the Fund may utilize a “representative sampling” strategy whereby securities are chosen in order to attempt to approximate the investment characteristics of the constituent securities. To the extent the Fund uses a representative sampling strategy, it would hold a significant number of the constituent securities of the Underlying Index, but may not track the Underlying Index with the same degree of accuracy as would an investment vehicle replicating the entire Underlying Index. Even when the Fund is utilizing representative sampling, it must invest at least 80% of its Assets in securities included in the Underlying Index. The Fund’s portfolio will be rebalanced quarterly in accordance with the quarterly rebalancing of the Underlying Index.The Fund may invest up to 20% of its assets in exchange-traded futures to seek performance that corresponds to the Underlying Index.To the extent that the securities in the Underlying Index are concentrated in one or more industries or groups of industries, the Fund may concentrate in such industries or groups of industries. The current Underlying Index is concentrated in the real estate group of industries.
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BBRE - Performance
Return Ranking - Trailing
| Period | BBRE Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -8.0% | -14.6% | 3.5% | 71.65% |
| 1 Yr | 2.7% | -14.1% | 18.7% | 70.08% |
| 3 Yr | -0.3%* | -12.5% | 10.3% | 20.16% |
| 5 Yr | 3.0%* | -11.5% | 13.3% | 38.60% |
| 10 Yr | N/A* | -1.7% | 14.2% | 43.13% |
* Annualized
Return Ranking - Calendar
| Period | BBRE Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 9.5% | -17.6% | 24.6% | 32.68% |
| 2022 | -26.5% | -51.3% | 2.7% | 13.04% |
| 2021 | 40.3% | -7.7% | 52.3% | 10.48% |
| 2020 | -10.8% | -42.2% | 35.0% | 69.23% |
| 2019 | 23.3% | -0.6% | 43.1% | 28.89% |
Total Return Ranking - Trailing
| Period | BBRE Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -8.0% | -14.6% | 3.5% | 71.65% |
| 1 Yr | 2.7% | -14.1% | 18.7% | 70.08% |
| 3 Yr | -0.3%* | -12.5% | 10.3% | 20.16% |
| 5 Yr | 3.0%* | -11.5% | 13.3% | 38.60% |
| 10 Yr | N/A* | -1.7% | 14.2% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | BBRE Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 13.9% | -14.0% | 25.0% | 18.11% |
| 2022 | -24.7% | -40.7% | 7.8% | 19.76% |
| 2021 | 43.0% | 7.8% | 54.6% | 31.45% |
| 2020 | -7.6% | -36.6% | 44.3% | 75.21% |
| 2019 | 26.1% | 3.4% | 46.4% | 59.56% |
BBRE - Holdings
Concentration Analysis
| BBRE | Category Low | Category High | BBRE % Rank | |
|---|---|---|---|---|
| Net Assets | 799 M | 2.26 M | 63.6 B | 31.01% |
| Number of Holdings | 127 | 18 | 513 | 12.55% |
| Net Assets in Top 10 | 392 M | 711 K | 30.4 B | 35.79% |
| Weighting of Top 10 | 48.89% | 16.9% | 82.2% | 80.81% |
Top 10 Holdings
- Prologis, Inc. 10.95%
- Equinix, Inc. 7.82%
- Welltower, Inc. 4.36%
- Simon Property Group, Inc. 4.23%
- Digital Realty Trust, Inc. 4.14%
- JPMorgan Securities Lending Money Market Fund, Class Agency SL Shares 4.11%
- Public Storage 3.95%
- Realty Income Corp. 3.51%
- VICI Properties, Inc. 2.98%
- Extra Space Storage, Inc. 2.84%
Asset Allocation
| Weighting | Return Low | Return High | BBRE % Rank | |
|---|---|---|---|---|
| Stocks | 98.75% | 0.00% | 106.01% | 52.40% |
| Cash | 5.71% | -42.50% | 20.74% | 10.33% |
| Other | 0.05% | -89.96% | 112.19% | 22.51% |
| Preferred Stocks | 0.00% | 0.00% | 31.13% | 98.15% |
| Convertible Bonds | 0.00% | 0.00% | 10.95% | 98.15% |
| Bonds | 0.00% | -3.17% | 148.00% | 97.79% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | BBRE % Rank | |
|---|---|---|---|---|
| Real Estate | 100.00% | 34.46% | 100.00% | 35.41% |
| Utilities | 0.00% | 0.00% | 3.55% | 98.05% |
| Technology | 0.00% | 0.00% | 12.02% | 98.83% |
| Industrials | 0.00% | 0.00% | 7.39% | 98.83% |
| Healthcare | 0.00% | 0.00% | 0.53% | 98.05% |
| Financial Services | 0.00% | 0.00% | 37.05% | 98.44% |
| Energy | 0.00% | 0.00% | 33.11% | 98.05% |
| Communication Services | 0.00% | 0.00% | 11.61% | 99.22% |
| Consumer Defense | 0.00% | 0.00% | 0.93% | 98.05% |
| Consumer Cyclical | 0.00% | 0.00% | 45.29% | 98.83% |
| Basic Materials | 0.00% | 0.00% | 13.69% | 98.44% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | BBRE % Rank | |
|---|---|---|---|---|
| US | 98.75% | 0.00% | 106.01% | 45.76% |
| Non US | 0.00% | 0.00% | 41.39% | 98.52% |
BBRE - Expenses
Operational Fees
| BBRE Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.11% | 0.07% | 24.62% | 97.39% |
| Management Fee | 0.11% | 0.00% | 1.50% | 4.43% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.45% | 30.86% |
Sales Fees
| BBRE Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| BBRE 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.
| BBRE Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.11% | 380.00% | 8.83% |
BBRE - Distributions
Dividend Yield Analysis
| BBRE | Category Low | Category High | BBRE % Rank | |
|---|---|---|---|---|
| Dividend Yield | 4.59% | 0.00% | 12.72% | 16.61% |
Dividend Distribution Analysis
| BBRE | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Quarterly | Quarterly | Quarterly |
Net Income Ratio Analysis
| BBRE | Category Low | Category High | BBRE % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.96% | -1.14% | 6.05% | 17.91% |
Capital Gain Distribution Analysis
| BBRE | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Mar 22, 2024 | $0.540 | OrdinaryDividend |
| Dec 22, 2023 | $0.937 | OrdinaryDividend |
| Sep 22, 2023 | $0.729 | OrdinaryDividend |
| Jun 23, 2023 | $0.866 | OrdinaryDividend |
| Mar 24, 2023 | $0.757 | OrdinaryDividend |
| Dec 23, 2022 | $0.696 | OrdinaryDividend |
| Sep 23, 2022 | $0.780 | OrdinaryDividend |
| Jun 24, 2022 | $0.436 | OrdinaryDividend |
| Mar 25, 2022 | $0.229 | OrdinaryDividend |
| Dec 27, 2021 | $0.773 | OrdinaryDividend |
| Sep 24, 2021 | $0.660 | OrdinaryDividend |
| Jun 25, 2021 | $0.287 | OrdinaryDividend |
| Mar 26, 2021 | $0.171 | OrdinaryDividend |
| Dec 28, 2020 | $0.972 | OrdinaryDividend |
| Sep 25, 2020 | $0.555 | OrdinaryDividend |
| Jun 26, 2020 | $0.630 | OrdinaryDividend |
| Mar 27, 2020 | $0.356 | OrdinaryDividend |
| Jan 03, 2020 | $0.031 | OrdinaryDividend |
| Dec 27, 2019 | $0.673 | OrdinaryDividend |
| Sep 27, 2019 | $0.433 | OrdinaryDividend |
| Jun 28, 2019 | $0.465 | OrdinaryDividend |
| Mar 25, 2019 | $0.340 | OrdinaryDividend |
| Sep 28, 2018 | $0.725 | OrdinaryDividend |
BBRE - Fund Manager Analysis
Managers
Oliver Furby
Start Date
Tenure
Tenure Rank
Jun 15, 2018
3.96
4.0%
Oliver Furby, executive director, is a portfolio manager on J.P. Morgan Asset Management's Core Beta Solutions team based in Columbus. Oliver serves as a portfolio manager on the team's enhanced index strategies, as well as various market cap weighted index strategies across the globe. In addition, Oliver is a member of the J.P. Morgan Asset Management's Multi-Asset Solutions team managing the JPMorgan Investor funds. His responsibilities include index and corporate action analysis, quantitative research for equity and asset allocation products, and portfolio risk management. Prior to joining the group in 2014, he was a Data Analysis Manager for the firm. Prior to joining JPMorgan he was a Quantitative Portfolio Manager and Risk Manager at State Teachers Retirement System of Ohio. Oliver earned a B.A. in Mathematics and Economics from Ohio Wesleyan University and a M.A. in Economics from The Ohio State University. He is member of the Chicago Quantitative Alliance.
Alex Hamilton
Start Date
Tenure
Tenure Rank
Jun 15, 2018
3.96
4.0%
Mr. Hamilton has been a portfolio manager for JPMIM since April 2017. Prior to joining JPMIM, he was an assistant portfolio manager at the Ohio Public Employees Retirement System from 2013 until 2017. Before that time, he worked at Huntington National Bank in the corporate treasury and mortgage capital markets departments. Mr. Hamilton is a CFA charterholder.
Michael Loeffler
Start Date
Tenure
Tenure Rank
Jun 15, 2018
3.96
4.0%
Michael Loeffler, Vice President of JPMIA and a CFA charterholder. Mr. Loeffler has been employed by JPMIA since 1999 when he joined as an investment operations analyst.
Nicholas D’Eramo
Start Date
Tenure
Tenure Rank
Jun 15, 2018
3.96
4.0%
Nicholas D’Eramo, Executive Director, has been a portfolio manager for J.P. Morgan Investment Management Inc. since 2005 and an employee of J.P. Morgan Investment Management Inc. or one of its predecessors since 1999.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.01 | 28.42 | 7.89 | 2.23 |
