JPMorgan Equity Focus ETF
JPEF
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- JPMorgan Equity Focus ETF (JPEF) is an actively managed exchange-traded fund that seeks long-term capital appreciation by investing primarily in a focused portfolio of U.S. growth and value equity securities; the fund typically holds no more than 40 stocks selected for durable franchises, sustainable competitive advantages, strong management teams, and robust balance sheets, with flexibility to overweight either growth or value styles based on market conditions and the ability to hold cash when opportunities are limited; top holdings as of October 31, 2025, include NVIDIA Corp (8.3%), Microsoft Corp (7.0%), Broadcom Inc (5.0%), Amazon.com Inc (4.9%), and Alphabet Inc (4.7%), representing key sectors such as information technology (32.2%), financials (15.4%), and consumer discretionary (12.2%). JPEF operates within the large blend category, targeting institutional and retail investors seeking core equity exposure with active management; it is domiciled in the United States, distributed by JPMorgan Distribution Services, Inc., an affiliate of JPMorgan Chase & Co., and managed by a team including Felise Agranoff (21 years experience), Jack Caffrey (33 years), Eric Ghernati (25 years), and Graham Spence (23 years); the fund maintains a net expense ratio of 0.44% (gross 0.55%), with assets under management of approximately $1.63 billion as of October 31, 2025. Launched as an ETF on July 28, 2023, following the conversion of its predecessor mutual fund (inception July 29, 2011), JPEF reflects JPMorgan Asset Management's strategic shift toward the ETF structure for enhanced trading flexibility, portfolio transparency, and tax efficiency; this conversion aligns with broader firm initiatives, including the completed transformation of four mutual funds to ETFs in recent years and proposed 2026 conversions of additional funds totaling nearly $5 billion in assets. The fund trades on the Nasdaq, with daily pricing and no front-end or deferred loads, and integrates environmental, social, and governance (ESG) factors into its bottom-up fundamental analysis process.