Category Review
Municipal bond funds are down for the year after a third-quarter selloff erased the first-half gain
JPMorgan International Bond Opportunities ETF
$46.780.00 (0.00%)
- 0.50%
- $2.3B
- +0.5%
- 4.67%
- 0.2M sh
- $46.61
- low $46.38high $49.43
The ETF.net JPIB Grade
C
Score 53 out of 100
- 74 of 117
Score 53 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.F20 out of 100Rank 92 of 117Mission
Whether the fund did what it promised, tested against its stated mandate.A77 out of 100Rank 85 of 101Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A70 out of 100Rank 16 of 116Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C45 out of 100Rank 68 of 117Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A70 out of 100Rank 35 of 116Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A76 out of 100Rank 20 of 117
Our read on JPIB
CMost funds in this aisle track an index and stay put. JPIB goes the other way: an active, go-anywhere portfolio of non-US debt that roams developed and emerging markets, and currencies, without a benchmark leash.
The fund seeks total return through a diversified international bond portfolio. It invests actively across bond and currency sectors in developed and emerging markets outside the U.S., without benchmark constraints.
Why people hold it
- No benchmark handcuffs. Managers shift across bond and currency sectors in developed and emerging markets outside the U.S., chasing total return instead of copying an index.am.jpmorgan.com
- Wide net under the hood: roughly a thousand positions across ex-US developed and emerging debt, so no single issuer or country steers the whole boat.
- Income arrives monthly, not once a quarter, and the fund has been running since 2017 with multi-billion-dollar scale behind it.
Worth knowing
- Active talent costs money: 0.50% a year, above the typical aggregate-bond ETF and far above index routes to foreign debt like BNDX at 0.07%.
- Its yardstick is the USD-hedged Bloomberg Multiverse ex-USA index, but currency is an active lever here, so the ride can look nothing like that benchmark.
- Trading is moderate rather than heavy, so bid-ask spreads can run wider than the index giants that dominate this category.
JPIB Holdings
- Bonds
- 1,019
- 23%
- Federal 2.1% 03/28
Sectors
- Financials20.7%
- Health Care13.4%
- Technology12.9%
- Industrials11.2%
- Communication10.0%
- Consumer Staples8.4%
- Energy6.1%
- Consumer Discretionary6.1%
- Utilities4.4%
- Real Estate4.0%
- Materials2.8%
Geography
- United States15.43%
- Germany11.29%
- United Kingdom9.76%
- France8.19%
- Italy5.54%
- Canada5.19%
- Netherlands5.13%
- Luxembourg4.46%
- 35.01%
Developed 73% · Emerging 27%
JPIB 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.
JPIB$10,054
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 | JPIB |
|---|---|
| Year to date | −0.8% |
| 1 month | −0.4% |
| 3 months | −2.0% |
| 1 year | +0.5% |
| 3 years | +5.7% |
| 5 years | +2.5% |
| 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 | JPIB |
|---|---|---|
| 2026 YTD | −0.8% | |
| 2025 | +8.2% | |
| 2024 | +3.5% | |
| 2023 | +8.7% | |
| 2022 | −6.4% | |
| 2021 | +0.1% | |
| 2020 | +7.2% |
JPIB in the news
JPIB Dividends
- 4.67%
- $2.19
- $0.11 per share
- Monthly
Distribution history
JPIB Risk
- 4.4%
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.
- 0.24
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.
- −11.2%
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.
- 0.66
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
JPIB Cost
0.50%
JPIB0.50%
- The middle half of US Aggregate Bond funds
- Median 0.34%
91 of the 113 US Aggregate Bond funds charge less.
Other funds in US Aggregate Bond
- CBCPLBNY Mellon Core Plus ETFExpense ratio 0.40%1 year return —
- CBLTDBluemonte Long Term Bond ETFExpense ratio 0.28%1 year return −5.4%
- CWABFWestern Asset Bond ETFExpense ratio 0.35%1 year return −2.2%
- CFTCBFirst Trust Core Investment Grade ETFExpense ratio 0.56%1 year return −2.6%
- CTPLSThornburg Core Plus Bond ETFExpense ratio 0.45%1 year return −1.7%