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JPMorgan High Yield Research Enh ETF JPHY

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Manager Changes on JPMorgan High Yield Research Enhanced ETF; Ratings Unchanged

Senior Analyst

Analyst Note

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JPMorgan announced in a filing dated and effective Oct. 4, 2021, that Frederick Bourgoin and Bhupinder Bahra, comanagers on JPMorgan High Yield Research Enhanced ETF since the fund’s September 2016 inception, would be replaced by Qiwei Zhu and Naveen Kumar. All four serve on the firm’s London-based Quantitative Research team; Bourgoin and Bahra have co-director responsibilities. whereas Zhu and Kumar are supporting members. JPMorgan confirmed that Bourgoin and Bahra are remaining at the firm and characterized their removal as reflecting their reduced day-to-day contribution to the fund. Conversely, the firm added Zhu and Kumar to the fund’s roster to reflect their ongoing work on its quantitative screens and analysis. These personnel changes do not have a material effect on the fund’s Average People and Process Pillar ratings, and it keeps its Morningstar Analyst Rating of Neutral.