JPMorgan International Research Enhanced Equity ETF

JPMorgan International Research Enhanced Equity ETF (JIRE) is an actively managed fund. As of July 31, 2026, it held 202 companies in developed markets outside the US, led by ASML, Siemens and AstraZeneca. It aims to beat the MSCI EAFE Index by a modest margin while keeping similar risk. To do that, it tilts slightly toward stocks its analysts rate as undervalued. Its 0.24% expense ratio is above the 0.11% average for similar funds.

• Over the year to Oct 27, 2026, JIRE returned +11.6%, 9th of 9 among similar funds.
• Its worst full calendar year was 2024 (+3.1%); its best was 2025 (+31.9%).
• The deepest fall in its price history was 13.6% (Mar 19, 2025 to Apr 8, 2025), recovered by Apr 28, 2025.

As of Jul 31, 2026, the fund held 202 securities; the ten largest made up 16.89% of assets.

• Over the three months to Jul 31, 2026, investors added a net $102.9M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +1.72%, +1.61%, +1.21%.

JIRE measures itself against the MSCI Europe, Australasia, Far East (EAFE) Index, a widely used benchmark of developed-market stocks outside the US. The 'net total return' version counts dividends after foreign withholding taxes. JIRE is not an index fund. JPMorgan's research analysts study each company's long-term prospects and rank companies within each sector by how attractively priced they look. The fund then modestly overweights stocks that seem undervalued. It holds less of, or skips, stocks that look overvalued. Sector and country exposure stays close to the index.

Most holdings come from the index, but the fund can buy stocks outside it. It invests only in developed markets. Analysts also weigh environmental, social and governance (ESG) issues they judge financially material, but this is not an exclusion screen. Holdings change as valuations or rankings shift. Portfolio turnover was 25%, meaning roughly a quarter of the portfolio was traded over a year.

The fund may use exchange-traded futures to manage cash and gain market exposure. It may also hedge part of its currency exposure with forward contracts. As of July 31, 2026, stocks made up 99.15% of assets, and the fund reported no derivatives. Japan (23.44%) and the UK (16.64%) were the largest country weights. The top 10 holdings made up 16.89% of assets, led by ASML at 3.48%.

• JIRE charges 0.24% a year, versus an average of 0.11% for the similar funds below (8th of 9, cheapest first).
• Of that, 0.2% is the management fee; the rest covers other fund expenses.
• The fee includes a 0.05% waiver from the adviser, which may end.
• Using the prospectus's standard example, $10,000 invested would cost about $25 in the first year and $363 over 10 years (assuming a 5% annual return).

It adds a broad mix of developed-market stocks outside the US, with returns that can differ from a US-heavy portfolio.

JIRE could add developed-market stocks outside the US to a portfolio heavy in US shares. Japan, the UK, France and Germany were its largest country weights as of July 31, 2026. Its market-price record starts October 18, 2022, after the 2008, 2020 and 2022 sell-offs. The prospectus record goes back further. It shows losses of 13.68% in 2022 and 14.66% in 2018, plus a 23.39% drop in the first quarter of 2020. Since late 2022, its deepest fall was 13.6%, from March 19 to April 8, 2025. It recovered by April 28. Anyone forced to sell in a year like 2022 would have locked in losses.

The fund yielded 2.74% over the 12 months to October 27, 2026, and it pays once a year, so income arrives in one lump. Swings in the US dollar also move returns. The SEC's standard example puts costs at $25 for the first year and $363 over 10 years on $10,000. 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.