New Listing

JP Morgan AM unveils ultra-short duration US Treasury ETF

BB3M tracks the ICE 0-3 Month US Treasury Notes & Bills index

Tom Eckett

a man wearing a suit

JP Morgan Asset Management (JPMAM) has expanded its core range with the launch of a short duration US Treasury bond ETF, ETF Stream can reveal.

The JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF (BB3M) is listed on the London Stock Exchange (LSE) and CBOE Netherlands with a total expense ratio (TER) of 0.07%.

BB3M tracks the ICE 0-3 Month US Treasury Notes & Bills index which offers investors exposure to US Treasuries with a maturity of less than or equal to three months.

Commenting on the launch, Olivier Paquier (pictured), head of ETF distribution, EMEA, at JPMAM, said: “We remain focused on offering international investors a wide range of solutions to assist with building better portfolios.

“In response to client demand, BB3M was launched as a solution which offers investors a specific fixed income exposure. We are delighted to be able to offer access to JPMAM’s expertise, to help meet the needs of this core allocation, via the ETF wrapper.”

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The latest launch adds to the firm's existing range of US Treasury ETFs which includes the $2.3bn JPMorgan BetaBuilders US Treasury Bond 0-1 Yr UCITS ETF (BBIL) and the $194m JPMorgan Betabuilders US Treasury 1-3 Yr UCITS ETF (JU13).

JPMAM also offers two ultra-short duration bond ETFs, the $162m JPMorgan USD Ultra-Short Income UCITS ETF (JPST) and the €640m JPMorgan EUR Ultra-Short Income UCITS ETF (JEST), which also track ICE indices.

BlackRock runs the largest ultra-short ETF on the European market, the iShares € Ultrashort Bond UCITS ETF (ERNE), which has €2.5bn assets under management (AUM).

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