The largest active ETF has transferred its listing to NYSE Arca from Cboe BZX, where it comprised roughly 5.2% of the exchange’s entire ETF AUM.
The listing transfer of the JPMorgan Ultra Short Income ETF (JPST ) went into effect on September 15 at market open. With $21.6 billion in assets under management, the fund giant comprises almost 7% of all actively managed ETF assets, according to a spokesperson for NYSE.
“In an increasingly crowded active ultra-short fixed income ETF universe, JPST has been a leader,” VettaFi head of research Todd Rosenbluth said. “The active fund has benefitted from a flight to safety as fears of higher growth interest rates emerged in 2022 as advisors and institutional investors seek out professional management.”
JPST aims to deliver current income while managing risk. The fund invests primarily in a diversified portfolio of short-term, investment-grade fixed, and floating-rate corporate and structured debt while actively managing credit and duration exposure.
The fund is a strong offering for investors looking for a relatively safe way to eke out a little more yield than they can get from brokerage sweep accounts, money market funds, or long-term Treasuries, according to VettaFi. JPST charges an 18 basis point expense ratio.
In a statement, J.P. Morgan Asset Management said the trading of the fund and the fund’s shareholders are not anticipated to be impacted during the transfer. Shareholders are not required to take any action in connection with this listing transfer.
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