Expanding on its municipal bond exchange traded fund line, J.P. Morgan Asset Management launched an actively managed intermediate muni bond strategy to help investors better control their fixed-income duration exposure.
On Wednesday, J.P. Morgan Asset Management rolled out the JPMorgan Municipal ETF (Cboe: JMUB), which has a 0.25% expense ratio.
The active muni ETF will be managed by J.P. Morgan’s Michelle V. Hallam, Executive Director; Kevin M. Ellis, Managing Director; and Michael R. Myers, Executive Director.
The JPMorgan Municipal ETF will try to provide provide monthly dividends and invest primarily in municipal obligations, according to the fund’s prospectus.
The portfolio’s underlying holdings mainly consist of municipal securities that include variable rate demand obligations, variable rate demand preferred securities, short-term municipal notes, tax exempt commercial paper, private activity and industrial development bonds, tax anticipation notes, bond anticipation notes, revenue anticipation notes or other short term notes, private placements and participation in pools of municipal securities.