Fund Description: JPMorgan Diversified Return U.S. Mid Cap 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 U.S. Mid Cap Equity ETF seeks investment results that closely correspond, before fees and expenses, to the performance of the RussellMidcap Diversified Factor Index. INDEX DESCRIPTION: The RussellMidcap Diversified Factor Index is comprised of U.S. equity securities selected to represent a diversified set of factor characteristics, originally developed by the adviser. Holdings in the Index are selected by the Index Provider, Frank Russell Co., primarily from the constituents of the Russell Midcap Index, a larger Russell index, which is comprised of mid-cap equity securities in the United States. The rules based proprietary multi-factor selection process utilizes the following characteristics: relative valuation, momentum and quality. The Index is not focused on any particular sector and is diversified across the following sectors: financials, technology, consumer services, health care, industrials, consumer goods, energy/materials and telecommunication/utilities. Within each sector, stocks are also weighted to diversify risk across individual equity securities. The Fund’s securities are mid-cap equity securities of U.S. companies, including common stock, 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 to seek performance that corresponds to the Index. FUND MANAGEMENT: J.P. Morgan Investment Management Inc. serves as the investment adviser to the Fund.