JMIN — JPMorgan U.S. Minimum Volatility ETF

Data updated: 2022-09-29

JMIN — JPMorgan U.S. Minimum Volatility ETF. Developed ex-US Real Estate · $37.29M AUM · 0.12% expense ratio. Holdings, fees, performance and SEC filings.

JMIN Fund Overview

JMIN — JPMorgan U.S. Minimum Volatility ETF is a US ETF managed by J.P. Morgan Exchange-Traded Fund Trust, categorised as Developed ex-US Real Estate. 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: Developed ex-US Real Estate
Assets under management: $37.29M
1-year return: 5.3%
Ticker: JMIN
SEC CIK: 0001485894
SEC series ID: S000059312
Share class ID: C000194671

JMIN Investment Objective and Strategy

JPMorgan U.S. Minimum Volatility 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 investment results that closely correspond, before fees and expenses, to the performance of the JP Morgan US Minimum Volatility Index.

Principal investment strategy

The Fund seeks investment results that closely correspond, before fees and expenses, to the performance of the JP Morgan US Minimum Volatility Index (the Underlying Index). The Fund will invest at least 80% of its Assets in securities included in the Underlying Index. Assets means net assets, plus the amount of borrowing for investment purposes. The Underlying Index measures the performance of U.S. equity securities selected using a rules-based process that is designed so the Underlying Index targets lower volatility than the Russell 1000 Index. The Funds adviser is a sponsor of the Underlying Index and developed the proprietary factors on which the Underlying Index is based. FTSE International Limited, the Benchmark Administrator, administers, calculates and governs the Underlying Index. Holdings in the Underlying Index are selected primarily from the constituents of the Russell 1000 Index, a larger Russell Index, which is comprised of large- and mid-cap equity securities of companies located in the United States.

The Underlying Index is designed to distribute risk among sectors and stocks in order to seek to minimize the overall portfolio volatility based upon the parameters of the rules-based process. Specifically, sector weightings in the Underlying Index are adjusted based on their historical volatility and correlation of the returns among sectors over the last three years. Based on the riskiness and correlations of the sector returns, the optimization process aims to determine the optimal sector allocation to minimize the volatility in the Underlying Index subject to sector constraints to ensure diversification. These constraints limit the target sector weights at each rebalance to a minimum of 5% and a maximum of 20% in the Underlying Index. As a result of this process, there will be higher allocations within the Underlying Index to those sectors with lower historical volatility or those sectors that are expected to lower portfolio risk.

The process also seeks to avoid overconcentration to any sector. The Underlying Index is diversified across the following sectors: financials, technology, consumer services, health care, industrials, consumer goods, energy, materials, telecommunication and utilities. Within each sector, stocks are selected and weighted to both reduce portfolio volatility and to avoid large weightings in single securities. The Funds securities are large- and mid-cap equity securities of U.S. companies, including common stock, preferred stock and real estate investment trusts (REITs). As of October 16, 2017, there were 212 companies represented in the Underlying Index and the market capitalizations of those companies ranged from $507.39 million to $581.60 billion. The number of components and the market capitalizations of the companies are subject to change over time.

Volatility is measured based on the variability of returns of both sectors and individual securities. For sectors, the volatility of returns is considered over a three-year period. For individual securities, the volatility of returns is considered over a two-year period. The Fund, using a passive or indexing investment approach, attempts to closely correspond to the performance of the Underlying Index. The adviser expects that, over time, the correlation between the Funds performance before fees and expenses and that of the Underlying Index will be 95% or better. A figure of 100% would indicate perfect correlation. Unlike many investment companies, the Fund does not seek to outperform the Underlying Index and does not seek temporary defensive positions when markets decline or appear overvalued.

The Funds intention is to replicate the constituent securities of the Underlying Index as closely as possible. Replication is a passive indexing strategy in which a fund invests in substantially all of the securities in its underlying index in approximately the same proportions as the underlying index. However, under various circumstances, it may not be possible or practicable to purchase or hold all of, or only, the constituent securities in their respective weightings in the Underlying Index. In these circumstances, the Fund may utilize a representative sampling strategy whereby securities are chosen in order to attempt to approximate the investment characteristics of the constituent securities. To the extent the Fund uses a representative sampling strategy, it would hold a significant number of the constituent securities of the Underlying Index, but may not track the Underlying Index with the same degree of accuracy as would an investment vehicle replicating the entire Underlying Index.

Even when a Fund is utilizing representative sampling, it must invest at least 80% of its Assets in securities included in the Underlying Index. The Funds portfolio will be rebalanced quarterly in accordance with the quarterly rebalancing of the Underlying Index. The Fund may invest up to 20% of its assets in exchange-traded futures to seek performance that corresponds to the Underlying Index. To the extent that the securities in the Underlying Index are concentrated in one or more industries or groups of industries, the Fund may concentrate in such industries or groups of industries.

JMIN Performance

Total returns for JMIN (as of 2026-10-01), from SEC filings.

Period	Total return
1 year	5.3%
3 years (annualised)	10.5%

JMIN Risk Information

Risk metrics for JMIN, derived from monthly returns in SEC filings.

1-year volatility (annualised): 15.7%

JMIN Costs and Fees

JMIN costs about $12 per $10,000 invested per year in fund expenses.

Net expense ratio: 0.12%
Gross expense ratio: 0.12%
Portfolio turnover: 22%
Brokerage commissions: 0.33 bps of average net assets (SEC N-CEN)

JMIN Cashflows

Over the 12 months to 2022-07, JPMorgan U.S. Minimum Volatility ETF had net inflows of $15.32M, from monthly SEC N-PORT filings.

Month	Net flow
2022-07	$7.17M
2022-06	$0
2022-05	−$1.76M
2022-04	$11.74M
2022-03	$1.85M
2022-02	−$1.83M

JMIN Debt Constituents

No individual debt constituents are reported in JPMorgan U.S. Minimum Volatility ETF's latest SEC N-PORT filing.

JMIN Prospectus and SEC Filings

Official JPMorgan U.S. Minimum Volatility ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Developed ex-US Real Estate 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.