JPMorgan Ultra-Short Income ETF
Actively managed global bond ETF
As of its 2026 Q2 report, JPMorgan Ultra-Short Income ETF held 806 positions with $38.41B in net assets. Its ten largest holdings made up 10.6% of the fund. The JPST share class costs 0.18% a year. Over the 12 months to May 2026, JPST returned 4.3%, with dividends reinvested. In 2026 Q2 it added 166 new positions and exited 187.
The Fund seeks to provide current income while seeking to maintain a low volatility of principal.
The fund invests in investment-grade, U.S. dollar-denominated short-term debt securities including corporate bonds, asset-backed and mortgage-backed securities, and money market instruments, with more than 25% of assets concentrated in the banking industry under normal conditions. The adviser selects securities through fundamental analysis of income, interest rate risk, credit risk, and transaction structure, while maintaining a target duration of one year or less to limit price sensitivity to interest rate changes. The fund may also hold high-yield bonds, restricted securities, and sub-prime or collateralized loan obligations at the adviser's discretion. Because the fund is concentrated in banking, performance depends significantly on the credit quality and performance of that sector.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
MGMXXJPMorgan U.S. Government Money Market Fund | 2.88% | $1.11B | — |
United States of America 3.38% · due 2028-02-29 | 2.31% | $887.95M | — |
Wells Fargo Securities LLC | 1.15% | $440.00M | — |
United States of America 0.88% · due 2026-09-30 | 0.70% | $267.48M | — |
Ventas Realty LP | 0.65% | $249.92M | — |
Capital One Financial Corp. 1.88% floating · due 2027-11-02 | 0.59% | $226.49M | — |
National Bank of Canada | 0.59% | $226.22M | — |
Athene Global Funding 4.86% · due 2026-08-27 | 0.58% | $223.83M | — |
First Abu Dhabi Bank PJSC | 0.58% | $222.47M | — |
Energy Transfer LP | 0.58% | $221.93M | — |
The 200 largest of 806 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 | 68.63% |
| Cash & short-term | 20.57% |
| Securitized | 10.34% |
| Derivatives | 0.00% |
Derivatives are shown at market value, not notional exposure.
By sector
- International
- 19.9%
- Other
- 19.9%
- Cash
- 19.5%
- Financials
- 14.3%
- 12 other sectors
- 26.4%
- International
- 19.9%
- Other
- 19.9%
- Cash
- 19.5%
- Financials
- 14.3%
- Securitized
- 10.4%
- Government
- 4.8%
- Utilities
- 3.1%
- Health Care
- 1.6%
- Information Technology
- 1.5%
- Real Estate
- 0.9%
- Consumer Discretionary
- 0.8%
- Consumer Staples
- 0.7%
- Industrials
- 0.7%
- Energy
- 0.7%
- Materials
- 0.6%
- Communication Services
- 0.6%
How it has done
JPST share class · total returns with dividends reinvested
Volatility over the last 12 months: 0.42%. Past returns are a record, not a forecast.
Fees & fund details
JPMorgan Ultra-Short Income ETF is an actively managed global bond ETF.
- Asset class
- Bonds
- Region
- Global
- Management
- Actively managed
- Fund type
- ETF
- Credit quality
- Investment grade
- Rate sensitivity
- Short duration
- Expense ratio, by class
- 0.18%· JPST 0.18%
- Portfolio turnover
- 63.00% 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.
166 new· the largest 7
187 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 | 54.8% |
| Floating rate | 45.2% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 27.0% |
| 1-3y | 59.4% |
| 3-5y | 6.9% |
| 5-10y | 5.9% |
| 10y+ | 0.8% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
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.
| Credit spreads | 54% |
| Interest rates | 46% |
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.
| Investment grade | +0.99 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 | 0.13 yr | 15% |
| 1 yr | 0.53 yr | 63% |
| 5 yr | 0.18 yr | 22% |
| 10 yr | 0.00 yr | 0% |
| 3 mo | 0.07 yr | 7% |
| 1 yr | 0.87 yr | 88% |
| 5 yr | 0.05 yr | 5% |
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 | +0.13 | +0.07 | +0.00 | $277.0k | $0 |
| 1 yr | +0.53 | +0.87 | +0.00 | $3.35m | $0 |
| 5 yr | +0.18 | +0.05 | +0.00 | $179.1k | $0 |
| 10 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 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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