JPMorgan Income ETF

JPMorgan Income ETF (JPIE) is an actively managed bond fund that does not track an index. It looks for income across many debt markets, from government-backed mortgage pools to junk bonds and loans. It pays monthly, with a trailing yield of 5.72% as of October 27, 2026. The trade-off is cost. Its 0.39% expense ratio is the highest among similar bond ETFs, whose average is 0.14%.

• Over the year to Oct 27, 2026, JPIE returned +2.7%, 3rd of 8 among similar funds.
• Its worst full calendar year was 2022 (-6.1%); its best was 2025 (+7.4%).
• The deepest fall in its price history was 10% (Dec 30, 2021 to Oct 20, 2022), recovered by Dec 20, 2023.

As of Aug 31, 2026, the fund held 2,672 securities; the ten largest made up 14.48% of assets, and 2.54% sat in cash and money-market holdings.

The bonds mature in 21.4 years on average (weighted by size), with an average coupon of 6.28%.

• Over the three months to Aug 31, 2026, investors added a net $1.66B (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +0.28%, -0.03%, +0.45%.

JPIE does not follow an index or a benchmark. Its adviser, J.P. Morgan Investment Management, buys debt in sectors it believes can pay high income and tend not to move together, which helps spread risk. Because no benchmark ties it down, the fund can put most of its money in one sector or spread it across many. The managers also try to smooth the monthly dividend through the year.

The rules are broad. Under normal conditions, at least 35% of assets must be investment grade when bought. The rest can go into junk bonds, loans or distressed debt. The fund expects to keep non-dollar securities at 10% of assets or less, though it can go higher. It aims to keep duration at ten years or less, though it can run longer when rates swing sharply. Duration measures how much a bond's price reacts when interest rates change. As of August 31, 2026, mortgage-backed securities made up about 53% of assets. The largest holding was a Ginnie Mae II 30-year mortgage pool at 3.1%. The top ten of 2,672 holdings added up to 14.5% of assets.

The fund trades often: portfolio turnover was 157%. It may use mortgage TBAs, which are contracts to buy mortgage pools before the exact loans are named. It may also use dollar rolls and short sales of TBAs. As of August 31, 2026, it held 41 interest-rate derivatives, including Treasury futures and swaps.

• JPIE charges 0.39% a year, versus an average of 0.14% for the similar funds below (8th of 8, cheapest first).
• Of that, 0.4% is the management fee; the rest covers other fund expenses.
• The fee includes a 0.01% waiver from the adviser, which may end.
• Using the prospectus's standard example, $10,000 invested would cost about $40 in the first year and $504 over 10 years (assuming a 5% annual return).

JPIE pays monthly and seeks income first, with growth in value as a secondary goal.

JPIE could add monthly income. Its trailing yield was 5.72% as of October 27, 2026. Payments vary, and the prospectus says the fund isn't designed to deliver a predictable level of income. It costs 0.39% a year. In the SEC's standard example, $10,000 would incur about $40 in costs in the first year and $504 over ten years. Similar funds average 0.14%.

The fund launched in October 2021, so it has no record through the 2008 or 2020 crashes. In the 2022 downturn, it fell about 10% from its December 30, 2021 peak to its October 20, 2022 low. It took 14 months to recover, by December 20, 2023. Its worst calendar year was 2022, at -6.52%. An investor who sold shares near that low to cover spending would have locked in losses. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by bond funds with the closest average maturity and issuer mix (N-PORT).