JPMorgan Active Growth ETF

JPMorgan Active Growth ETF (JGRO) is an actively managed fund of mostly large US growth stocks. JPMorgan's managers pick the stocks instead of copying an index. It is concentrated: NVIDIA and Alphabet were each about 10% of assets as of June 30, 2026. Its 0.44% expense ratio is well above the 0.17% average of similar growth funds, and it trailed all eight of them over one and three years through late October 2026.

• Over the year to Oct 27, 2026, JGRO returned -2.1%, 6th of 9 among similar funds.
• Its worst full calendar year was 2025 (+14.7%); its best was 2023 (+37.8%).
• The deepest fall in its price history was 22.7% (Jan 23, 2025 to Apr 8, 2025), recovered by Jun 27, 2025.

As of Jun 30, 2026, the fund held 128 securities; the ten largest made up 45.44% of assets. It also reported 3.06% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.

By sector

• Over the three months to Jun 30, 2026, investors added a net $410.4M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +10.77%, +5.53%, -0.17%.

JGRO does not track an index. Its goal is long-term growth of capital. Under normal conditions it puts at least 80% of its assets in growth companies. These are companies the managers believe can grow revenue or earnings faster than the US market as a whole. Most holdings are large US companies, but the managers may also buy mid-size and small ones. They combine research, valuation and stock selection to find companies they expect to grow earnings faster than average over the next several years, often ones with leading competitive positions. Each of the two portfolio managers runs one of JPMorgan's other growth strategies (Large Cap Growth and Growth Advantage). JGRO draws on both, but its holdings differ from each.

The managers decide how much each stock gets. The fund is "non-diversified," which means it may hold bigger positions in fewer companies than a diversified fund. As of June 30, 2026, it held 128 stocks, and the top 10 made up 45.4% of assets. The managers also weigh environmental, social and governance (ESG) issues, but these do not automatically exclude a stock. A stock may be sold if the company's fundamentals change, if its price looks too high, or if a better idea comes along. Turnover was 68%, so a large share of the portfolio changes each year. The fund may use futures contracts to keep its cash invested in stocks. It held no derivatives as of June 30, 2026.

• JGRO charges 0.44% a year, versus an average of 0.17% for the similar funds below (8th of 9, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $45 in the first year and $555 over 10 years (assuming a 5% annual return).

It makes a concentrated, actively managed bet on large growth stocks with a high technology weighting, so it fits better as a small add-on than as a foundation.

JGRO adds concentrated exposure to large growth companies, led by chip and internet stocks. Its record is short. It launched on August 8, 2022, so it missed the 2008 and 2020 crashes and most of the 2022 bear market. It had no losing calendar year from 2023 through 2025. Its weakest full year was 2025, when it gained 14.67%. Its deepest drop was 22.7%, from January 23 to April 8, 2025. It recovered by June 27, 2025, about 2.6 months later. Its one-year beta of 1.36 means it has swung more than the broad market. Someone who has to sell during a slump could lock in deeper losses.

It is not an income fund. The yield was 0.16% as of October 27, 2026, and it pays once a year. In the SEC's standard example, $10,000 invested would cost $555 in fees over 10 years. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.