Industry Updates

JP Morgans lists more fixed income ETFs in London

David Tuckwell

Today's new ETF listings from around the world


JP Morgan lists bond ETFs

World's largest financial institution JP Morgan is listing three new ETFs in London as it enters Europe's fixed income ETF arena late but hard. The three new listings, available both in USD and GBP are:

  • JP Morgan USD Emerging Markets Sovereign Bond UCITS ETF (JPMB, JPBM)

  • JP Morgan USD Ultra-Short Income UCITS ETF (JPST, JPTS)

  • JP Morgan BetaBuilders EUR Govt Bond 1-3 yr UCITS ETF (JE13, J13E)

JPMB appears to do something similar to what iShares' blockbuster SEMB does - go for emerging market debts as central bank policy drives yields out of debts in rich countries. Interestingly, iShares' SEMB tracks an index provided by JP Morgan. JP Morgan's offering is 6 basis points cheaper than iShares', suggesting it may have underpricing in mind.

JPST is actively managed and goes for US dollar denominated debts that have maturity dates less than one year away, perhaps countenancing fears that interest rates will rise. (Short-term debts are less susceptible to interest rate movements). The company has already listed this product in the US with the same ticker on the ETF-specialist BATS exchange. The fund has attracted more than $120m in assets despite being listed only in May 2017.

JE13 tracks the J.P. Morgan EMU Government Bond Index 1-3 Year, of EMU government short-term bonds. The fund charges a rock-bottom rate of 10%.


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