JP Morgan Debuts Income ETF

The new fund shares the same strategies as a long-running mutual fund.

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Reviewed by: Dan Mika
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Edited by: Dan Mika

JPMorgan Asset Management is launching an ETF clone of its seven-year-old income-focused fixed income mutual fund.

The JPMorgan Income ETF (JPIE) debuted on the NYSE Arca Tuesday with an expense ratio of 0.41%.

The actively managed, fully transparent fund aims to generate monthly distributions through collecting dividends on a range of fixed income products. The ETF also aims to keep its portfolio’s duration at or below 10 years.

JPIE’s strategy appears adapted from the JPMorgan Income mutual fund, and shares the same management team of Andrew Norelli, Andrew Headley and Thomas Hauser. The mutual fund currently has a 30-day SEC yield of 3.38% after fee waivers and reimbursements, and carries the same 0.41% expense ratio as JPIE.

The ETF is also a longer-duration alternative to the JPMorgan Ultra-Short Income ETF (JPST), an $18.4 billion fund that aims to keep its effective duration under a year.

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Dan Mika is a reporter for etf.com. He has previously covered business for the Ames Tribune and Cedar Rapids Gazette in Iowa, and BizWest Media in Fort Collins, Colorado. Dan holds a bachelor's degree in journalism from Truman State University.