JPMorgan has introduced two new ETFs to its lineup: the JPMorgan High Yield Municipal ETF (JMHI) and the JPMorgan Sustainable Municipal Income ETF (JMSI).
JMHI focuses on high yield municipal bonds that are exempt from federal income taxes. The fund may invest in below investment-grade securities, offering higher yields but also higher risk. With 384 holdings, JMHI carries an expense ratio of 0.35%.
JMSI aims to provide current income exempt from federal income taxes by investing in municipal bonds that have a positive social or environmental impact. The fund follows a value-oriented approach, conducting extensive risk/reward analysis. At inception, JMSI had 436 holdings and an expense ratio of 0.18%.
These additions expand JPMorgan’s ETF suite, which now comprises 54 products with over $118 billion in assets under management (AUM) as of July 17. JPMorgan has emerged as one of the fastest-growing fixed income ETF providers, and the expansion of its municipal bond suite is well-received.
Overall, these new offerings provide investors with access to high yield municipal bonds and sustainable municipal income opportunities within a diversified ETF portfolio.