COLLEGE PLANNING | ESTATE PLANNING | INVESTING | PORTFOLIO SPOTLIGHT | REAL ESTATE | RETIREMENT | TAX PLANNING
JPMorgan Income ETF
TICKER ASSETS
JPIE $ 4.5 billion
PERFORMANCE |
YTD |
1 yr. |
3 yr. |
|
4.69 % |
7.23 % |
5.44 % |
TOP 5 HOLDINGS TBA GNMA2 SINGLE 6.5 %; GNMA II MORTPASS 6 % 07 / 55; GNMA II 5.5 % 07 / 55; TBA GNMA2 SINGLE 5.5 %; JPMORGAN PRIME VAR 12 / 49
CONTACT INFO
800-338-4345 • am. jpmorgan. com
BOND SECTOR ALLOCATION( As a % of portfolio) Agency MBS 31.3 % CMBS 17.4 % Corporate( High Yield) 13.5 % Asset-Backed Securities 12.9 % Non-Agency MBS 9.9 % Cash / Cash Equivalent 5.6 % EMD USD Denominated Debt 4.9 % Corporate( Investment Grade) 2.9 % Non-Dollar Denominated Assets 2.6 %
Performance, asset numbers, holdings and portfolio stats as of 8 / 5 / 25. Turnover stat as of 6 / 30 / 25. Sources: JPMorgan Asset Management and Morningstar.
A Healthy Slice Of Income
The JPMorgan Income ETF provides a sizable yield. By Jeff Schlegel
THE JPMORGAN INCOME ETF’ S TICKER SYMBOL, JPIE, is both easy to remember and makes a person hungry for dessert. For investors hungry for investment income, the fund’ s recent 30-day SEC yield of about 5.40 % is sizable enough to satisfy many appetites.
This actively managed exchange-traded fund uses the exact same investment strategy as the JPMorgan Income Fund, a Morningstar four-star rated mutual fund with a solid 11-year track record( the management teams are identical, too). The ETF version, which launched in 2021, expands the strategy’ s potential audience to retail investors and bears a net expense ratio of 0.39 %, which is the same as the mutual fund’ s lowest-cost fee structure in the R6 share class available to investors in qualified retirement plans. But the ETF’ s investment minimum of one share is a heck of a lot more doable than the R6 minimum of $ 15 million or the mutual fund’ s institutional share class minimum of $ 1 million( the latter’ s net expense ratio is 0.40 %).
In January, Morningstar upgraded the ETF from silver to gold medal status thanks to its strong management team, which the investment research firm praised as being among the best in its multisector bond category.
That team consists of three portfolio managers. Andrew Norelli is a veteran multisector fixed-income specialist who has helmed this particular income strategy since the rollout of the mutual fund in 2014. Drew Headley and Tom Hauser have expertise in securitized and high-yield assets, respectively. They’ re backed by J. P. Morgan’ s Global Fixed Income, Currency, and Commodities team, an assortment of sector specialists, research analysts, traders and risk managers. Morningstar analyst Paul Olmsted calls this group“ one of the best-resourced supporting casts on the street,” allowing the firm’ s income strategy a more flexible mandate.
Low Duration
The JPIE managers employ what they describe as an opportunistic approach where they invest in a wide variety of debt securities that can produce attractive risk-adjusted income while
42 | FINANCIAL ADVISOR MAGAZINE | SEPTEMBER 2025 WWW. FA-MAG. COM