Fund Description: JPMorgan Diversified Return Emerging Markets Equity ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the J.P. Morgan Exchange-Traded Fund Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The JPMorgan Diversified Return Emerging Markets Equity ETF seeks investment results that closely correspond, before fees and expenses, to the performance of the FTSE Emerging Diversified Factor Index. INDEX DESCRIPTION: The FTSE Emerging Diversified Factor Index is comprised of equity securities from emerging markets selected to represent a diversified set of factor characteristics, originally developed by the adviser. Holdings in the Index are selected by the Index Provider, FTSE International Limited, from the constituents of the FTSE Emerging Index, a larger FTSE index, which is comprised of large- and mid-cap equity securities from advanced and secondary emerging markets. The rules based proprietary multi-factor selection process utilizes the following characteristics: value, momentum and quality. The equity securities in the Index will be diversified across emerging market regions and industries. These securities will be large- and mid-cap equity securities of companies from emerging markets, including common stock, depositary receipts, preferred stock and real estate investment trusts (REITs). FUND STRATEGY: The Fund will invest at least 80% of its Assets in securities included in the Index. The Fund, using a passive or indexing investment approach, attempts to closely correspond to the performance of the Index. The Fund’s intention is to replicate the constituent securities of the Index as closely as possible. However, under various circumstances, it may not be possible or practicable to purchase all of the constituent securities in their respective weightings in the Index. In these circumstances, the Fund may utilize a representative sampling strategy whereby the Fund would hold a significant number of the component securities of the Index, but may not track the Index with the same degree of accuracy as would an investment vehicle replicating the entire Index. The Fund’s portfolio will be rebalanced quarterly in accordance with the quarterly rebalancing of the Index. The Fund may invest up to 20% of its assets in exchange-traded futures contracts and other exchange-traded funds (ETFs) to seek performance that corresponds to the Index, particularly in emerging markets where it is otherwise difficult to gain access. To the extent that the securities in the Index are concentrated in one or more industries or group of industries, the Fund may concentrate in such industries or groups of industries. FUND MANAGEMENT: J.P. Morgan Investment Management Inc. serves as the investment adviser to the Fund.