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JP Morgan Asset Management’s Active Fixed Income ETF Goes Live

By:
Hassan Maishera
Published: Nov 2, 2021, 17:44 UTC

JP Morgan Asset Management has launched the JPMorgan Income ETF (JPIE), an active fixed income ETF designed to track debt securities across the fixed income sector.

Chase

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JPMorgan Asset Management has launched an active fixed income exchange-traded fund (ETF), targeting debt securities.

JPIE ETF Goes Lives

JPMorgan Asset Management, the asset management arm of JPMorgan Chase, announced the launch of its JPMorgan Income ETF (JPIE), an active fixed income ETF, earlier today. The ETF was created to track debt securities across the fixed income sector.

According to JPMorgan Asset Management, the ETF is seeking to deliver yield with lower volatility and attractive distributions. JPIE debuted on the NYSE Arca earlier today with an expense ratio of 0.41%.

The actively managed and fully transparent ETF intends to generate monthly distributions by collecting dividends on numerous fixed-income products. The fund will also keep its portfolio’s duration below or at ten years.

The strategy behind this ETF is similar to the JPMorgan Income mutual fund. JPIE also shares the same management team with the JPMorgan Income mutual fund, comprised of Andrew Norelli, Thomas Hauser and Andrew Headley.

At the time of writing, the JPIE has a 30-day SEC yield of 3.38% after reimbursements and fee waivers. Similarly, the fund is a longer-duration alternative to the JPMorgan Ultra-Short Income ETF (JPST), which is currently worth $18.4 billion.

JPM’s Stock Price Up by 37% YTD

Following the launch of JPIE, JPMorgan Asset Management now has ten products in its suite of active fixed income funds. The firm’s full suite of 38 United States funds has more than $68 billion in assets under management.

jpmorgan
JPM stock chart. Source: FXEMPIRE

The shares of JPMorgan Chase are up by less than 1% since the US market opened a few hours ago. At the time of writing, JPM is up by 0.44% and trading at $170.54 per share. JPMorgan is also one of the top performers in the banking sector since the start of the year.

YTD, JPM is up by 37.55%, while its 1-year performance boosts the stock value by more than 74%. The stock price could rally higher if the US stock market continues to enjoy the excellent performance it has recorded in recent months.

About the Author

Hassan is a Nigerian-based financial Journalist and cryptocurrency investor.

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