Fund Description: JPMorgan Ultra-Short Income 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. INVESTMENT OBJECTIVE: The JPMorgan Ultra-Short Income ETF seeks to deliver current income while seeking to maintain a low volatility of principal. The Fund is an actively managed ETF and thus does not seek to replicate the performance of a specified index. FUND STRATEGY: The Fund seeks to achieve its investment objective by primarily investing in investment grade, U.S. dollar denominated short-term fixed, variable and floating rate debt. As part of its principal investment strategy, the Fund may invest in corporate securities, asset-backed securities, mortgage-backed and mortgage-related securities, and high quality money market instruments such as commercial paper and certificates of deposit. The Fund may also invest in U.S. Treasury securities (including Separate Trading of Registered Interest and Principal of Securities (STRIPS), securities issued or guaranteed by the U.S. government or its agencies and instrumentalities, securities issued or guaranteed by foreign governments, repurchase agreements, when-issued securities, delayed delivery securities, forward commitments, zero-coupon securities and privately placed securities. All securities will be U.S. dollar-denominated although they may be issued by a foreign corporation. The Fund will concentrate its investments in the banking industry. Therefore, under normal conditions, the Fund will invest more than 25% of its assets in securities issued by companies in the banking industry. The Fund may, however, invest less than 25% of its assets in this industry as a temporary defensive measure. The Fund seeks to maintain a duration of one year or less but may be longer under certain circumstances. The investment grade U.S. dollar denominated short-term fixed and floating rate debt securities in which the Fund will primarily invest will carry a minimum short-term rating of P-2, A-2 or F2 or better by Moody’s, S&P's or Fitch's Ratings Services or a minimum long-term rating of Baa3, or BBB-. The Fund also may invest in securities rated below investment grade. The Fund may invest a significant portion of its assets in mortgage-related and mortgage-backed, as well as restricted securities, at the adviser’s discretion. The asset-backed securities in which the Fund may invest include sub-prime securities and collateralized loan obligations (CLOs). The Fund may use futures contracts in connection with its principal strategies in certain market conditions. As part of its principal investment strategy and for temporary defensive purposes, any portion of the Fund’s total assets may be invested in cash, money market funds and cash equivalents. FUND MANAGEMENT: J.P. Morgan Investment Management Inc. serves as the investment adviser to the Fund.