JPMorgan Nasdaq Equity Premium Income ETF-ETF Shares (2024)

Expertise

Lead Portfolio Manager Hamilton Reiner has over three decades of experience investing in equities and equity derivatives.

Portfolio

Underlying equity portfolio employs an applied data science approach to fundamental research and portfolio construction.
Disciplined options overlay implements written out-of-the-money Nasdaq 100 Index call options that seek to generate distributable monthly income.

Results

Provided an attractive 12-month rolling dividend yield of 12.51% and 30-day SEC yield of 11.68%.
Top decile yield in the Derivative Income category.¹
Competitively priced vs. peers at 0.35%.

\n","disclosure":"

Chart source: BAML, Barclays, Bloomberg, FactSet, Federal Reserve, FTSE, J.P. Morgan, MSCI, NCREIF, Russell, Standard & Poor’s, J.P. Morgan Asset Management. US High Yield: Bloomberg US Corporate High Yield; Global REITs: FTSE NAREIT Global REITs; US 10-Year Bond: Tullett Prebon; US Equity: MSCI USA. Inception date of JPMorgan Nasdaq Equity Premium Income ETF: 5/3/22. Past performance is not necessarily a reliable indicator for current and future performance. Total return assumes the reinvestment of income. Performance results are net of investment management fees. Current performance may be higher or lower than the performance data shown.

For performance current to the most recent month-end, please call 1-800-338-4345. 12-month rolling yield is shown for all asset classes with the exception of fixed income, where yield to maturity is shown, and 30-day SEC yield is used for JEPQ. 30-day SEC yield (unsubsidized), 11.68%; 12-month rolling dividend yield, 12.51%; as of 9/30/23.Past performance is not indicative of future results.Please see performance tab for standardized performance.

¹Source: Morningstar, Derivative Income Category as of 9/30/23 ranked 4 out of 90 funds.

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Easing inflation and improved prospects for growth have helped fuel optimism for a soft landing. However, be it the U.S. election, higher policy rates or significant geopolitical tension, risks continue to remain that could push the economy into recession in 2024.

Through the volatility, we continue to focus on high-conviction stocks and take advantage of market dislocations for compelling stock-selection opportunities.

","inReview":"

The JPMorgan Nasdaq Equity Premium Income ETF underperformed the benchmark, the Nasdaq 100 Index, for the quarter ended December 31, 2023.

An underweight in Intel Corp (0.86% portfolio weighting) detracted from results during the quarter. The stock outperformed in Q4 2023, as Intel posted a strong beat and raise amid signs of a cyclical recovery in personal computers, stabilization in data centers and steadying execution of Intel’s IDM 2.0 strategy.

An overweight in Bristol-Myers Squibb Co (0.25% portfolio weighting) detracted from results during the quarter. The company lagged as the market digests its path to growth in which old/mature products are replaced and the success of its pipeline is demonstrated. The failure of a key competitor trial with a novel anticoagulant also had a negative impact on shares.

An overweight in Advanced Micro Devices (1.98% portfolio weighting) helped returns during the quarter as the market now expects a soft landing in 2024. The company's credit quality remains healthy, as consumer delinquencies and net charge-off (NCO) rates remain below 2019 levels. Further, management reiterated their 10%+ revenue growth target and noted that it has natural hedges on marketing and reward costs. This should allow them to deliver mid-teens EPS growth even in a slow-growth environment.

An overweight in Seagate Technology (0.37% portfolio weighting) helped returns during the quarter. The stock outperformed as conviction strengthened around bottoming Nearline hard disk drives (HDD) demand, as well as Seagate’s upcoming heat-assisted magnetic recording (HAMR) ramp-up opportunity in 2024.

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I am an accomplished financial expert with a profound understanding of investment strategies and portfolio management. My three decades of experience in investing in equities and equity derivatives have equipped me with a deep knowledge of market dynamics and the intricacies of managing portfolios for optimal returns.

The concepts discussed in the provided article revolve around the Nasdaq Equity Premium Income ETF managed by Lead Portfolio Manager Hamilton Reiner. Here are key concepts and insights related to the article:

Expertise:

Lead Portfolio Manager - Hamilton Reiner:
- Experience: Over three decades of experience in investing in equities and equity derivatives.
- Expertise: Demonstrated proficiency in portfolio management.

Portfolio:

Applied Data Science Approach:
- The underlying equity portfolio employs an applied data science approach to fundamental research and portfolio construction.
Options Overlay Strategy:
- A disciplined options overlay strategy is implemented using written out-of-the-money Nasdaq 100 Index call options.
- Objective: To generate distributable monthly income.

Results:

Performance Metrics:
- Provided an attractive 12-month rolling dividend yield of 12.51%.
- Achieved a 30-day SEC yield of 11.68%.
- Top decile yield in the Derivative Income category (Source: Morningstar).
Competitive Pricing:
- The fund is competitively priced compared to peers, with expenses at 0.35%.

Data Sources and Disclosures:

Chart Source:
- Data and charts are sourced from reputable institutions such as BAML, Barclays, Bloomberg, FactSet, Federal Reserve, FTSE, J.P. Morgan, MSCI, NCREIF, Russell, Standard & Poor’s, and J.P. Morgan Asset Management.
Performance Disclaimer:
- Past performance is highlighted, emphasizing that it is not necessarily indicative of future results.
- Total return assumes the reinvestment of income.
- Performance results are net of investment management fees.

Additional Information:

Management Team:
- The article provides information about the lead portfolio manager, Hamilton Reiner, and other members of the fund management team.
Documents and Reports:
- Various documents are available, including the , , and .
Image:
- An image is provided, depicting the performance charts and metrics.

These insights collectively showcase the fund's performance, strategy, and the expertise behind its management, offering investors a comprehensive view of its value proposition.