BLLD — JPMorgan Sustainable Infrastructure ETF
Data updated: 2025-03-28
BLLD — JPMorgan Sustainable Infrastructure ETF. Global (incl. US) Multi-Cap / All-Cap Growth Thematic Equity. Holdings, fees, performance and SEC filings.
BLLD Fund Overview
BLLD — JPMorgan Sustainable Infrastructure ETF is a US ETF managed by J.P. Morgan Exchange-Traded Fund Trust, categorised as Global (incl. US) Multi-Cap / All-Cap Growth Thematic Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: J.P. Morgan Exchange-Traded Fund Trust
- Category: Global (incl. US) Multi-Cap / All-Cap Growth Thematic Equity
- Assets under management: $19.80M
- 1-year return: 4.2%
- Ticker: BLLD
- SEC CIK: 0001485894
- SEC series ID: S000076158
- Share class ID: C000235631
BLLD Investment Objective and Strategy
JPMorgan Sustainable Infrastructure ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by J.P. Morgan Exchange-Traded Fund Trust.
Investment objective
The Fund seeks to achieve long-term capital appreciation by investing in companies that the adviser believes are well-positioned to develop the infrastructure required to facilitate a sustainable and inclusive economy.
Principal investment strategy
In managing the Fund, the adviser identifies companies that, in the advisers opinion, are developing solutions to provide sustainable infrastructure and are thus well-positioned to benefit from growing demand for sustainable infrastructure. Infrastructure includes not only physical structures such as roads, bridges, or buildings but also companies providing key social services such as medical operators, digital connectivity providers, and enabling technologies (such as data centers and cell towers), technology, logistics, or other operational processes. For purposes of the Funds name and investment theme, sustainable infrastructure refers to infrastructure that facilitates accessibility to public goods and services such as electricity, renewable energy, clean water, digital access, transportation, medical facilities, affordable housing and education.
For purposes of the Funds investment objective, companies that are providing infrastructure to facilitate a sustainable and inclusive economy include companies that currently are facilitating access to essential goods and services, improved connectivity, social infrastructure, and environmental resilience, or are in the process of developing products or services to facilitate such access. The Fund is a thematic fund meaning that the Fund seeks to identify and invest in companies that are relevant to the investment theme of sustainable infrastructure. Companies are selected in relation to the following key sub-themes: Electricity Infrastructure Companies that the adviser believes are providing network and storage infrastructure. Renewables Infrastructure Companies that the adviser believes are developing infrastructure to support clean or renewable energy.
Transport Infrastructure Companies that the adviser believes are providing transportation-related infrastructure such as railways. Water Infrastructure Companies that the adviser believes are investing in water infrastructure such as water treatment and purification. Digital Infrastructure Companies that the adviser believes are developing and investing in digital infrastructure such as data storage. Sustainable Logistics Companies that the adviser believes are providing sustainable logistics solutions, including logistics warehouses, sorting centers and facilities that facilitate the movement of goods from a transportation hub to the final delivery destination. Medical Infrastructure Companies that the adviser believes are investing in medical infrastructure and healthcare facilities, including senior living.
Social Housing and Education Infrastructure Companies that the adviser believes are focused on providing access to affordable housing and education. These sub-themes may change from time to time as businesses, technologies, and practices evolve or emerge to facilitate sustainable infrastructure. Under normal circumstances, the Fund invests at least 80% of its Assets in equity securities of companies that further or engage in sustainable infrastructure activities as determined by the adviser based on its sustainable investment inclusion process (the 80% policy). Assets means net assets plus the amount of borrowings for investment purposes. In implementing its main strategies, the Fund invests primarily in common stocks, real estate investment trusts (REITs) and depositary receipts. The Fund is not managed to an index and may invest in equity securities in both U.S.
and foreign markets, including emerging markets. The Fund may invest a significant portion of its assets in small capitalization companies and have significant positions in specific sectors or markets from time to time. Derivatives, which are instruments that have a value based on another instrument, exchange rate or index, may be used as substitutes for securities in which the Fund can invest. The Fund may use futures contracts to gain or reduce exposure to equity markets, maintain liquidity and minimize transaction costs. In managing cash flows, the Fund may use futures contracts to invest incoming cash in the market or sell futures contracts in response to cash outflows, thereby gaining equity market exposure while maintaining a cash balance for liquidity. The Fund is non-diversified and may invest a greater percentage of its assets in a particular issuer or group of issuers than a diversified fund would.
Investment Process : The Fund is an actively managed Fund and applies the investment process described below to select investments for the Fund, other than its investments in derivatives and money market funds. The adviser begins with a universe of over 10,000 stocks of companies of all capitalization levels in both developed and emerging markets as potential investments for the Fund. In identifying companies that are facilitating sustainable infrastructure from the starting universe, the adviser uses the following three steps. Exclusionary Framework: As an initial step, the Fund seeks to avoid investing in companies that the adviser has determined, based on its exclusionary framework, to be significantly involved in certain business activities or industries, such as controversial weapons, conventional weapons, or thermal coal.
This exclusionary framework relies on multiple data inputs including information from third-party providers who identify an issuers participation in or the revenue which they derive from activities that are inconsistent with values- and norms-based screens. The adviser may modify the exclusionary framework without notice to shareholders to, among other things, modify the data inputs, change third-party data providers, or add or remove certain business activities or industries from the screening process. Identification of Opportunity Set: After applying the exclusionary framework, the adviser uses its proprietary system, known as Themebot to help identify companies that are facilitating sustainable infrastructure through their products and services. Themebot is designed to recognize key words and concepts that the adviser believes are attributable to such companies.
Through natural language processing, Themebot analyzes public documentation such as regulatory filings, broker reports, news reports or company profiles sourced directly from the applicable company or third parties. As part of its process, Themebot determines textual relevance (based, in part, on the occurrences of key words and phrases), and revenues from the products or services that the adviser has identified as facilitating sustainable infrastructure. Based on this processing, Themebot systematically ranks stocks based on textual relevance and revenue attribution to help the adviser prioritize its review of individual companies for inclusion in the portfolio. Sustainable Investment Inclusion Process: The adviser then reviews individual securities using the advisers proprietary sustainable investment inclusion process to identify securities that the adviser believes are facilitating sustainable infrastructure.
For all companies reviewed by the adviser under the sustainable investment inclusion process, the adviser analyzes: (1) the applicable environmental and/or social benefits associated with a companys products and services and how they are facilitating sustainable infrastructure, (2) the risks to the company, including whether there are business activities in other areas that could negate the positive benefits created by the companys products or services, and (3) the governance qualifications of the company such as an evaluation of management structure, employee practices, remuneration of staff and tax compliance. The process also uses a revenue threshold of 20% (subject to change as determined by the adviser from time to time) to determine whether a companys products and services facilitate sustainable infrastructure subject to review by the adviser to determine whether such revenue is reasonably attributable to such products or services.
For companies that are identified as being below the revenue threshold or where the adviser determines that revenue is not available, relevant or meaningful, the adviser may still determine that the company facilitates sustainable infrastructure based on one or more of the following considerations: (1) an identification of who benefits from the companys products and services, (2) the scale and scope of the companys products and services, and (3) the social or environmental outcomes associated with the companys products and services and whether such outcomes would happen without such products or services. Only companies that the adviser has identified as facilitating sustainable infrastructure under the sustainable investment inclusion process are eligible for inclusion under the Funds 80% policy.
Security Selection . After identifying the companies that it believes are facilitating sustainable infrastructure, the adviser selects securities using an active, bottom-up investment approach to determine which companies are best positioned to achieve the Funds objective of long-term capital appreciation based on fundamental analysis, including ongoing discussions between the advisers stewardship team and/or investment team and companies (also known as engagement). For purposes of the Funds 80% policy, the adviser is not limited to companies identified by Themebot and may add companies that have not been identified by Themebot but which the adviser has determined to be facilitating sustainable infrastructure using the sustainable investment inclusion process. If a company ceases to qualify as a company that facilitates sustainable infrastructure, the adviser may sell the security or alternatively retain the security if the adviser believes the company can resolve the issue in the short-term based on the adviser's engagement with the company or other available information.
Up to 20% of the Funds Assets may be invested in cash and cash equivalents, derivatives, and investments that do not satisfy the advisers sustainable investment inclusion process and/or in investments that are not directly related to the sub-themes listed above. In addition, for temporary defensive purposes, any portion of the Funds total assets may be invested in cash and cash equivalents, including affiliated money market funds.
BLLD Holdings
Top 10 holdings of JPMorgan Sustainable Infrastructure ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Welltower, Inc. | 4.79% |
| Equinix, Inc. | 4.63% |
| Engie SA | 4.55% |
| SSE plc | 4.47% |
| Digital Realty Trust, Inc. | 4.32% |
| Ferrovial SE | 4.17% |
| Union Pacific Corp. | 3.45% |
| Iberdrola SA | 3.10% |
| NextEra Energy, Inc. | 2.68% |
| NARI Technology Co. Ltd. | 2.65% |
BLLD Portfolio Allocation
Asset-class allocation of JPMorgan Sustainable Infrastructure ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 98.8% |
| Cash & Equivalents | 0.7% |
BLLD Performance
Total returns for BLLD (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 4.2% |
| 3 years (annualised) | 1.3% |
BLLD Risk Information
Risk metrics for BLLD, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 15.9%
BLLD Costs and Fees
BLLD costs about $49 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.49%
- Gross expense ratio: 0.49%
- Portfolio turnover: 51%
- Brokerage commissions: 2.19 bps of average net assets (SEC N-CEN)
BLLD Cashflows
Over the 12 months to 2025-01, JPMorgan Sustainable Infrastructure ETF had net outflows of $5.44M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2025-01 | $0 |
| 2024-12 | $0 |
| 2024-11 | $0 |
| 2024-10 | $0 |
| 2024-09 | −$5.44M |
| 2024-08 | $0 |
BLLD Debt Constituents
No individual debt constituents are reported in JPMorgan Sustainable Infrastructure ETF's latest SEC N-PORT filing.
BLLD Prospectus and SEC Filings
Official JPMorgan Sustainable Infrastructure ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-02-25
- Prospectus (485BPOS) — filed 2024-02-22
- Prospectus (485BPOS) — filed 2023-02-23
- Portfolio holdings (N-PORT) — filed 2025-03-28
- Portfolio holdings (N-PORT) — filed 2024-12-26
- Portfolio holdings (N-PORT) — filed 2024-09-26
- Annual census (N-CEN) — filed 2025-01-14
- Annual census (N-CEN) — filed 2024-01-16
Related Funds
Other Global (incl. US) Multi-Cap / All-Cap Growth Thematic Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.