Fund Description: JPMorgan U.S. Aggregate Bond ETF is an actively managed exchange-traded fund or Actively Managed ETF which is a separate investment portfolio of the J.P. Morgan Exchange-Traded Fund Trust, an open-end investment management company. <p> INVESTMENT OBJECTIVE: The JPMorgan U.S. Aggregate Bond ETF seeks to provide long-term total return. The Fund is an actively managed ETF and, thus, does not seek to replicate the performance of a specified Index. However, an actively managed ETF may have an index-based benchmark. J.P. Morgan Investment Management Inc., the Advisor has discretion on a daily basis to manage the Fund’s portfolio in accordance with the Fund’s investment objective and investment policies. <p> FUND STRATEGY: The Fund will primarily invest in bonds that are included in the Bloomberg Barclays U.S. Aggregate Index, but may invest in bonds that are not included in the Bloomberg Barclays U.S. Aggregate Index. The Fund will not invest in debt securities that are rated below investment grade at the time of purchase. The Fund may invest in privately placed, restricted and unregistered securities. First, within the corporate sub-sectors of the Bloomberg Barclays U.S. Aggregate Index (financials, industrials and utilities), the adviser will apply a systematic multi-factor screening process that seeks exposure to those debt issuers that have attractive “factor” characteristics. The adviser believes it has identified a set of three fixed income investment return sources that have distinct risk and return profiles. Each “factor” represents a potential source of investment return that results from, among other things, assuming a particular risk or taking advantage of a behavioral bias. The three “factors” used in the Fund include Value, Quality, and Momentum. Second, the adviser will seek to realign the duration and sectors of the Fund to match the duration and sectors of the Bloomberg Barclays U.S. Aggregate Index. As of November 30, 2018, the duration of the Bloomberg Barclays U.S. Aggregate Index was 5.97 years.The Fund may invest in Mortgage TBAs. Mortgage TBAs provide for the forward or delayed delivery of the underlying instrument with settlement up to 180 days. The term TBA comes from the fact that the actual mortgage-backed security that will be delivered to fulfill a TBA trade is not designated at the time the trade is made, but rather is announced 48 hours before the settlement date. The Fund may invest in debt obligations, denominated in U.S. dollars, that are issued by a foreign corporation or a U.S. affiliate of a foreign corporation or a foreign government or its agencies and instrumentalities. <p> FUND MANAGEMENT: J.P. Morgan Investment Management Inc. serves as the investment advisor to the Fund.