JPMorgan Active High Yield ETF
Actively managed U.S. bond ETF
As of its 2026 Q2 report, JPMorgan Active High Yield ETF held 532 positions with $2.21B in net assets. Its ten largest holdings made up 9.7% of the fund. The JPHY share class costs 0.45% a year. Over the 12 months to May 2026, JPHY returned 6.4%, with dividends reinvested. In 2026 Q2 it added 55 new positions and exited 31.
The Fund seeks to achieve a return in excess of the benchmark by investing primarily in below investment grade corporate debt securities. A high level of current income is the Funds primary objective and capital appreciation is a secondary objective.
The fund seeks to outperform the ICE BofA US High Yield Constrained Index by selecting below-investment-grade corporate debt securities through fundamental credit analysis of individual issuers, including assessment of business prospects, capital structure, and covenants, with the adviser overweighting and underweighting positions relative to the benchmark based on that analysis. Because the fund's returns depend on the adviser's security selection decisions rather than index replication, performance may diverge materially from the benchmark. The fund may invest up to 100% of assets in below-investment-grade or unrated securities, including distressed debt of financially troubled issuers, and may hold unfunded commitments to purchase securities as part of its principal strategy.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
MGMXXJPMorgan U.S. Government Money Market Fund | 2.30% | $50.88M | — |
CCO Holdings LLC 4.75% · due 2032-02-01 | 1.09% | $24.01M | — |
Royal Caribbean Cruises Ltd. 6.00% · due 2033-02-01 | 1.02% | $22.64M | — |
Live Nation Entertainment, Inc. 6.50% · due 2027-05-15 | 0.82% | $18.19M | — |
Venture Global LNG, Inc. 9.88% · due 2032-02-01 | 0.80% | $17.65M | — |
CCO Holdings LLC 4.50% · due 2033-06-01 | 0.78% | $17.21M | — |
Ford Motor Credit Co. LLC 4.13% · due 2027-08-17 | 0.75% | $16.57M | — |
CCO Holdings LLC 4.75% · due 2030-03-01 | 0.73% | $16.07M | — |
American Airlines, Inc. 5.75% · due 2029-04-20 | 0.71% | $15.79M | — |
EMRLD Borrower LP 6.63% · due 2030-12-15 | 0.71% | $15.75M | — |
The 200 largest of 532 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 95.81% |
| Cash & short-term | 2.30% |
| Stocks | 0.04% |
By sector
- Other
- 50.7%
- International
- 8.3%
- Industrials
- 6.7%
- Consumer Discretionary
- 6.6%
- 10 other sectors
- 27.7%
- Other
- 50.7%
- International
- 8.3%
- Industrials
- 6.7%
- Consumer Discretionary
- 6.6%
- Communication Services
- 6.0%
- Energy
- 3.6%
- Information Technology
- 3.4%
- Health Care
- 2.8%
- Cash
- 2.3%
- Financials
- 2.2%
- Materials
- 2.1%
- Utilities
- 2.1%
- Consumer Staples
- 1.8%
- Government
- 1.3%
How it has done
JPHY share class · total returns with dividends reinvested
Volatility over the last 12 months: 2.00%. Past returns are a record, not a forecast.
Fees & fund details
JPMorgan Active High Yield ETF is an actively managed U.S. bond ETF.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- ETF
- Credit quality
- High yield
- Rate sensitivity
- Short duration
- Expense ratio, by class
- 0.45%· JPHY 0.45%
- Portfolio turnover
- 19.00% a year · as of 2026 Q2
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
55 new· the largest 5
31 exited· the largest 8
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-05-31
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 99.8% |
| Floating rate | 0.2% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 5.0% |
| 1-3y | 25.4% |
| 3-5y | 33.3% |
| 5-10y | 36.1% |
| 10y+ | 0.1% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying nearly as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 52% |
| Credit spreads | 48% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| High yield | +2.27 yr |
| Investment grade | +0.14 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.04 yr | 1% |
| 1 yr | 0.68 yr | 26% |
| 5 yr | 1.54 yr | 60% |
| 10 yr | 0.32 yr | 12% |
| 30 yr | 0.00 yr | 0% |
| 3 mo | 0.02 yr | 1% |
| 1 yr | 0.59 yr | 25% |
| 5 yr | 1.75 yr | 73% |
| 10 yr | 0.05 yr | 2% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.04 | +0.00 | +0.01 | $853 | $3.3k |
| 1 yr | +0.68 | +0.05 | +0.54 | $11.0k | $120.0k |
| 5 yr | +1.54 | +0.08 | +1.67 | $18.7k | $368.4k |
| 10 yr | +0.32 | +0.01 | +0.04 | $1.5k | $9.6k |
| 30 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Understand how this fund fits with the rest.
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