Fact Sheet | January 31, 2024

JPMorgan Equity Premium Income ETF
Ticker: JEPIDesigned to provide current income while
maintaining prospects for capital appreciation.

Performance
F1

Fund: at NAV

F2

Fund: Market price returns

Approach

B1

Benchmark 1: S&P 500 Index• Generates income through a combination of selling
options and investing in U.S. large cap stocks, seeking todeliver a monthly income stream from associated option
premiums and stock dividends

B2

Benchmark 2: ICE BofA 3-Month US Treasury Bill Index• Constructs a diversified, low volatility equity portfolio
through a proprietary research process designed toidentify over- and undervalued stocks with attractive
risk/return characteristics

Growth of $10,000
18F $15,514

1614• Seeks to deliver a significant portion of the returns
associated with the S&P 500 Index with less volatility, inaddition to monthly income

Expertise
Portfolio manager(s) and years of experience
Hamilton Reiner, 37 years
Raffaele Zingone, 33 years

Fund Information

Ending Value

12102021
5/20/2020 (Launch)2322

1/31/2024

Since inception with dividends and capital gains reinvested. There is no direct
correlation between a hypothetical investment and the anticipatedperformance of the Fund.

Calendar Year Performance (%)
Annual expenses (%)
Gross Expenses: 0.350
Net Expenses: 0.350

Class launch
May 20, 2020
CUSIP
46641Q332
Value of investments$31.62 B

50
25
0-25

Ratings
Morningstar Medalist RatingTM
Analyst-Driven %Data Coverage %Morningstar Star Rating

1/31/24
TM

Overall Morningstar Rating
TMMorningstar Category

BRONZE - 9/26/2023
100100★★★★★
Derivative Income-50

2021

2022

2023

F1

21.61

-3.54

9.88

F2

21.50

-3.52

9.81

B1

28.71

-18.11

26.29

Yield (%)
As of 1/31/24

Overall Morningstar ratings 5 stars; 78 funds. Three year rating 5 stars; 78 funds.
Five year period not yet rated. Ten year period not yet rated. Ratings reflect riskadjusted performance. Different share classes may have different ratings.
Overall Morningstar RatingTM for a fund is derived from a weighted average of theperformance figures associated with its three-, five-, and 10-year (if applicable)
Morningstar Rating metrics.

6.86

7.04

30-day SEC yield (unsubsidized)

6.86

7.04

12-month rolling dividend yield†

8.50

8.50

Return (%)
Total Return at
1/31/24

Performance Disclosures

The performance quoted is past performance and is not a guarantee offuture results. Investment returns and principal value of an investment
will fluctuate so that an investor's shares, when sold or redeemed, may
be worth more or less than original cost. Current performance may behigher or lower than the performance data shown. For performancecurrent to the most recent month-end please call 1-844-4JPM-ETF.
Total Returns based on NAV and Market Price do not reflect brokeragecommissions or sales charges in connection with the purchase or sale of Fund
shares, which if included would lower the performance shown above. The NAV
used in the Total Return calculation assumes all management fees andoperating expenses incurred by the Fund.
Currently, the yield is unaffected by a fee waiver.
†The 12-Month Rolling Dividend Yield represents the sum of the dividend yield(non-annualized) for the 12 most recent regularly declared income dividends aswell as any special income distributions in the intervening period. Dividendyield (non-annualized) is calculated by dividing the dividend per share by thenet asset value per share as of the relevant ex-dividend date.
^Fund performance inception: 5/20/2020
A fund's NAV is the sum of all its assets less any liabilities, divided by thenumber of shares outstanding.
YTD returns are as of the last business day of the month.
Must be preceded or accompanied by a prospectus.

As of 12/31/23

30-day SEC yield

Annualized Returns at
12/31/23

1mo 3mos YTD

1yr Launch^

1yr

3yrs

1.75

8.66

1.75

9.90

12.59

9.88

8.83

-12.37

1.78

8.68

1.78

9.80

12.60

9.81

8.78

-12.37

B11.68

16.01

1.68

20.82

15.96

26.29

10.00

-15.82

B20.43

1.35

0.43

5.16

1.90

5.05

2.17

-1.82

F1F2at NAV
Marketpricereturns

5yrs Launch^Fact Sheet | January 31, 2024 | JPMorgan Equity Premium Income ETF

Page 2 of 2Holdings

Sectors (%)

Top 10 (%)

Communication Services

PROGRESSIVE CORP/THE

1.7

MICROSOFT CORP COMMON

1.7

AMAZON.COM INC COMMON

1.7

TRANE TECHNOLOGIES PLC

1.6

INTUIT INC COMMON STOCK

1.6

MASTERCARD INC COMMON

1.6

ACCENTURE PLC COMMON

1.6

VISA INC COMMON STOCK

1.5

ABBVIE INC COMMON STOCK

1.5

META PLATFORMS INC

1.5

4.2

Consumer Discretionary

7.4

Consumer Staples

10.8

Energy2.6

Financials

14.2

Health Care

11.9

Industrials

11.5

Information Technology

14.6

Materials

2.8Real Estate

2.9

Utilities

4.1

Other

13.2

N/A

0.1

Portfolio Analysis
Price to earnings (P/E ratio)
Weighted average market cap
Beta (1-year)
Standard deviation (1-year)
Turnover ratio (trailing 12months) (6/30/2023) (%)
Number of holdings
EPS GrowthInvestors should carefully consider the investment objectives and risks as well as
charges and expenses of the JPMorgan ETF before investing. The summary and fullprospectuses contain this and other information about the ETF. Read the prospectus
carefully before investing. Call 1-844-4JPM-ETF or visit www.jpmorganETFs.com toobtain a prospectus.
Due to rounding, values may not total 100%.
Sector and country or region excludes cash.
This document is a general communication being provided for informational purposes
only. It is educational in nature and not designed to be a recommendation for any specificinvestment product, strategy, plan feature or other purpose. Any examples used aregeneric, hypothetical and for illustration purposes only. Prior to making any investment orfinancial decisions, an investor should seek individualized advice from personal financial,legal, tax and other professionals that take into account all of the particular facts andcircumstances of an investor's own situation.
Risk Summary
Investments in Equity-Linked Notes (ELNs) are subject to liquidity risk, which may make
ELNs difficult to sell and value. Lack of liquidity may also cause the value of the ELN todecline. Since ELNs are in note form, they are subject to certain debt securities risks, suchas credit or counterparty risk. Should the prices of the underlying instruments move in an
unexpected manner, the Fund may not achieve the anticipated benefits of an investment in
an ELN, and may realize losses, which could be significant and could include the Fund'sentire principal investment.
The price of equity securities may fluctuate rapidly or unpredictably due to factors affectingindividual companies, as well as changes in economic or political conditions. These pricemovements may result in loss of your investment.
Annual Operating Expenses
The Fund’s management agreement provides that the adviser will pay substantially all
expenses of the Fund, except for the management fees, payments under the Fund’s 12b-1
plan (if any), interest expenses, dividend and interest expenses related to short sales,
taxes, acquired fund fees and expenses (other than fees for funds advised by the adviser
and/or its affiliates), costs of holding shareholder meetings, and litigation and potentiallitigation and other extraordinary expenses not incurred in the ordinary course of theFund’s business. The Fund shall be responsible for its non-operating expenses, including
brokerage commissions and fees and expenses associated with the Fund’s securities
lending program, if applicable.
Indexes
ETFs have fees that reduce their performance: indexes do not. You cannot invest directly in
an index.
The S&P 500 Index is an unmanaged index generally representative of the performance oflarge companies in the U.S. stock market. Index levels are in total return USD.
The ICE BofA 3-Month US Treasury Bill Index is comprised of a single issue purchased at thebeginning of the month and held for a full month. The index is rebalanced monthly and theissue selected is the outstanding Treasury Bill that matures closest to, but not beyond 3
months from the rebalancing date.
Top Holdings
The top 10 holdings listed exclude cash and money markets. Holdings are subject tochange. The holdings listed should not be considered recommendations to purchase orsell a particular security. Each individual security is calculated as a percentage of the netassets.
For more information regarding the Equity-Linked Notes please see “Equity Premium
Income ETF - Equity Linked Notes Estimated SPX – Equivalent Unit Delta-Gamma” found on
the Documents tab of the fund’s website.
Ratings and Awards
The Morningstar RatingTM for funds, or "star rating", is calculated for managed products(including mutual funds, variable annuity and variable life subaccounts, exchange-tradedfunds, closed-end funds, and separate accounts) with at least a three-year history.
Exchange traded funds and open-ended mutual funds are considered a single population
for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Returnmeasure that accounts for variation in a managed product s monthly excess performance,

JEPI

S&P 500 Index

20.59$269.51
0.54
8.18
190.0020.73$708.09
13.99
-132
10.32

501
9.89

placing more emphasis on downward variations and rewarding consistent performance.
The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10%
receive 1 star. The Overall Morningstar Rating for a managed product is derived from aweighted average of the performance figures associated with its three-, five-, and 10-year(if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for
36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119
months of total returns, and 50% 10- year rating/30% five-year rating/20% three-year
rating for 120 or more months of total returns. While the 10-year overall star rating formulaseems to give the most weight to the 10-year period, the most recent three-year period
actually has the greatest impact because it is included in all three rating periods.
Rankings do not take sales loads into account.
The Morningstar Medalist RatingTM is a summary expression of Morningstar’s forwardlooking analysis of investment strategies using a rating scale of Gold, Silver, Bronze,Neutral and Negative. Medalist Ratings indicate which investments Morningstar believes
are likely to outperform a relevant index or peer group average on a risk-adjusted basis
over time. Products are evaluated on three key pillars (People, Parent, and Process) which,when coupled with fees, forms the basis for Morningstar’s conviction in those products’
investment merits and determines the Medalist Rating assigned. Products are sorted by
expected performance into rating groups defined by their Morningstar Category and theiractive or passive status. Analyst-covered products are assigned the three pillar ratings
based on the analyst’s qualitative assessment, subject to the Analyst Rating Committee’s
oversight, monitored and reevaluated at least every 14 months. Ratings are assignedmonthly for vehicles covered either indirectly by analysts or by algorithm. For more detailed
information including methodology, please go to
global.morningstar.com/managerdisclosures.
Ratings and rankings should not be used as the sole basis in evaluating an investment
product and should not be considered an offer or solicitation to buy or sell the investment
product.
©2024 Morningstar Inc. All rights reserved. Morningstar information is proprietary toMorningstar and/or its content providers, may not be copied or distributed and is notwarranted to be accurate, complete or timely.
Definitions30-day SEC Yield: Represents net investment income earned by a fund over a 30-day
period, expressed as an annual percentage rate based on the fund s share price at the endof the 30-day period. The 30-day yield should be regarded as an estimate of investment
income and may not equal the fund s actual income distribution rate.
30-day SEC Yield (unsubsidized): Unsubsidized yield does not adjust for any fee waivers
and/or expense reimbursements.
Beta measures a fund’s volatility in comparison to the market as a whole. A beta of 1.00
indicates a fund has been exactly as volatile as the market.
P/E ratio is the number by which earnings per share is multiplied to estimate a stock svalue.
Standard deviation/Volatility: A statistical measure of the degree to which the Fund s
returns have varied from its historical average. The higher the standard deviation, the wider
the range of returns from its average and the greater the historical volatility. The standard
deviation is calculated over a 36 month period based on Fund s monthly returns.
Weighted average market capitalization is a stock market index weighted by the market
capitalization of each stock in the index.
EPS: Total earnings divided by the number of shares outstanding.
Entities
J.P. Morgan ETFs are distributed by JPMorgan Distribution Services, Inc., which is anaffiliate of JPMorgan Chase & Co. Affiliates of JPMorgan Chase & Co. receive fees forproviding various services to the funds. JPMorgan Distribution Services, Inc. is a memberof FINRA.
J.P. Morgan Asset Management is the brand name for the asset management business ofJPMorgan Chase & Co and its affiliates worldwide.
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©JPMorgan Chase & Co., February 2024

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

FS-JEPI-ETF Shares-0124