JPMorgan Managed Futures Strategy ETF (JPMF) is an actively managed exchange-traded fund that seeks to provide long-term total return through systematic long and short exposures to momentum and carry factors across multiple asset classes, including equities, fixed income, currencies and commodities. The fund implements its strategy via approximately 50 futures positions, targeting 6%-8% annual risk and returns uncorrelated to traditional markets; momentum trades capture trends in six developed bond markets, diversified commodity indices, 10 developed equity indices and 10 developed currencies, while carry trades favor higher-yielding assets in fixed income term premium, real yields, commodity roll yields and currencies across developed and emerging markets. JPMF operates globally with a total expense ratio of 0.57% and trades on U.S. exchanges as part of J.P. Morgan Asset Management's ETF lineup.
JPMF, which shares its strategy with the UCITS version launched in November 2017 and domiciled in Ireland, focuses on institutional and retail investors seeking portfolio diversification and downside protection. The ETF is issued by J.P. Morgan, headquartered at 270 Park Avenue in New York, with global operations spanning equities, fixed income and alternatives. It targets a broad investor base including those pursuing alternative beta strategies to reduce volatility and enhance returns in varied market environments.
In recent developments, J.P. Morgan Asset Management has aggressively expanded its active ETF offerings, launching multiple new products in 2024 and 2025 such as JRAW, JSEE and JEHY UCITS ETFs, alongside U.S.-focused launches like JPMorgan Flexible Income ETF (JFLI) and JPMorgan U.S. Research Enhanced Large Cap ETF (JUSA). The firm announced plans in December 2025 to convert nearly $5 billion in U.S. mutual funds, including the JPMorgan U.S. GARP Equity Fund, to ETFs in 2026, underscoring a strategic shift toward ETF wrappers for tax efficiency and liquidity. These initiatives reflect JPMorgan's broader ETF ambition to grow from $200 billion to $1 trillion in assets under management.