JPMorgan USD Emerging Markets Sovereign Bond ETF

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

As part of its strategy, the fund employs a passive or indexing investment approach.

Next, the research team invests significantly in securities included in the Underlying Index.

The Underlying Index is comprised of liquid, U.S. dollar-denominated sovereign and quasi-sovereign fixed and floating rate debt securities from emerging markets.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

To the extent that the securities in the Underlying Index are concentrated in one or more industries or groups of industries, the fund may concentrate in such industries or groups of industries.

The fund may invest without limit in securities that are rated below investment grade or securities that are unrated but are deemed to be of comparable quality.

Also, the fund may invest up to 20% of its net assets in exchange-traded futures contracts, credit default swaps and other exchange-traded funds.

The fund is non-diversified.