JPMorgan Inflation Managed Bond ETF
$46.24+0.22 (+0.48%)
- 0.39%
- $902M
- −1.6%
- 4.24%
- 0.1M sh
- $46.04
- low $45.78high $50.95
The ETF.net JCPI Grade
C
Score 46 out of 100
- 27 of 41
Score 46 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F3 out of 100Rank 40 of 41Mission
Whether the fund did what it promised, tested against its stated mandate.A81 out of 100Rank 18 of 33Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C44 out of 100Rank 22 of 41Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C43 out of 100Rank 26 of 41Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A87 out of 100Rank 1 of 41Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A79 out of 100Rank 6 of 41
Our read on JCPI
CMost inflation hedges hand you a stack of long-dated TIPS. JCPI runs a regular core bond book and layers CPI swaps on top, so the hedge is an overlay, not the whole portfolio. Active, monthly paying, 0.25%.
The fund seeks to deliver inflation-protected total return by combining a core bond portfolio with actively managed inflation swaps and tactical trades.
Why people hold it
- Mechanically it is a core bond portfolio with inflation swaps and tactical trades layered on top, rather than a basket of long-dated TIPS.am.jpmorgan.com
- 0.25% for an actively run strategy sits below the median fee in its core bond peer group, unusual for a fund that manages a derivatives overlay.
- Roughly 700 bond positions, and it pays monthly rather than quarterly.
- The strategy has been running since 2010 and reached ETF form in a 2022 mutual fund conversion, so the record predates the ticker.nasdaq.com
Worth knowing
- Thinly traded next to the index giants in its category, which can mean wider bid-ask spreads.
- Plain vanilla peers such as BND, SPAB and SCHZ charge 0.03%, so the inflation overlay costs several times more in fees.
- The hedge runs through swaps, which adds counterparty exposure and manager judgment to what is otherwise a straightforward bond book.am.jpmorgan.com
JCPI Holdings
- Bonds
- 758
- 49%
- United 2.375% 10/28
Geography
- United States89.07%
- United Kingdom2.36%
- France2.10%
- Japan1.53%
- Ireland1.17%
- Canada0.80%
- Spain0.76%
- Netherlands0.56%
- 1.65%
JCPI Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.
JCPI$9,837
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | JCPI |
|---|---|
| Year to date | −1.5% |
| 1 month | −1.3% |
| 3 months | −2.6% |
| 1 year | −1.6% |
| 3 years | +4.9% |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | JCPI |
|---|---|---|
| 2026 YTD | −1.5% | |
| 2025 | +7.1% | |
| 2024 | +4.7% | |
| 2023 | +5.0% | |
| 2022 | −5.5% |
JCPI in the news
The Big Picture
The Fed hiked. The 30-year yield fell 1 basis point
JCPI Dividends
- 4.24%
- $1.95
- $0.12 per share
- Monthly
Distribution history
JCPI Risk
- 3.7%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.05
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −7.9%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.57
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
JCPI Cost
0.39%
JCPI0.39%
- The middle half of TIPS funds
- Median 0.10%
39 of the 41 TIPS funds charge less.
Other funds in TIPS
- CLDRIiShares iBonds 1-5 Year TIPS Ladder ETFExpense ratio 0.10%1 year return +1.4%
- CIBILiShares iBonds Oct 2035 Term TIPS ETFExpense ratio 0.10%1 year return −3.3%
- CLTPZPIMCO 15+ Year U.S. TIPS Index Exchange-Traded FundExpense ratio 0.20%1 year return −11.0%
- CIBIMiShares iBonds Oct 2036 Term TIPS ETFExpense ratio 0.10%1 year return —
- CLIAEStone Ridge Trust - LifeX 2050 Inflation-Protected Longevity Income ETFExpense ratio 0.25%1 year return −6.0%