Exploring JP Morgan’s Active ETF Bench

Beneath the headline-grabbing yields of the JPMorgan’s flagship duo the JPMorgan Equity Premium Income ETF (JEPI) and the JPMorgan NASDAQ Equity Premium Income ETF (JEPQ), a broader active bench is taking shape. 

For investors looking to move past simple yield and toward more precise portfolio construction, three funds in particular offer a window into what JPMorgan’s active engine looks like when it isn’t focused on income. 

Active Growth in Volatile Times

With an expense ratio of 0.44% the JPMorgan Active Growth ETF (JGRO) has attracted significant investor interest and $9.3 billion in AUM as of April 27, 2026. It’s JPMorgan’s eighth-largest fund, and currently its largest U.S.-focused equity ETF.

Rather than following rigid index rebalancing schedules, JGRO’s managers can adjust positioning as market opportunities emerge. The fund compares its performance against the Russell 1000 Growth Index. The strategy reflects JPMorgan’s approach to active equity: maintaining growth exposure while retaining flexibility in turbulent markets.

According to YCharts, JGRO has returned 26.05% over the last year. Top-five holdings include Nvidia (NVDA), Apple (AAPL), Alphabet (GOOG), Microsoft (MSFT) and Broadcom (AVGO). 

Fixed Income: A Research-Driven Core

Alongside equity offerings,  the JPMorgan Core Plus Bond ETF (JCPB) is a key fund in the firm’s push into active fixed income. Actively managed fixed income strategies can have a more pronounced edge over passive benchmarks, given the complexity and fragmentation of the bond market.

JCPB leans into that advantage. Backed by the firm’s deep research bench, the fund uses bottom-up security selection and holds more than 2,500 securities.  

True, flows into the $11.2 billion fund have been more gradual than some of its equity counterparts. However, they have been consistently positive on a weekly basis over the past year. Indeed, they’ve added $5 billion to JCPB’s total AUM. That’s emblematic of a meaningful rotation: Capital is moving out of cash and back into bonds. At the same time, portfolios are evolving, with investors increasingly blending active strategies alongside passive exposure as the gap between the two continues to narrow.  

According to YCharts, JCPB has returned 6.15% over the last year and carries an expense ratio of 0.38%. 

See More: Why Flows Into Active ETFs Are Outpacing Total Market Share

Managing Risk While Staying Invested

Launched in September 2023, the JPMorgan Hedged Equity Laddered Overlay ETF (HELO) has grown to nearly $4 billion in assets. 

For investors more focused on protection than pure income, HELO is designed to provide a smoother equity experience. With a 0.50% expense ratio, the fund uses a laddered options overlay — staggering three-month hedges one month apart — to reduce volatility, limit path dependency, and cushion drawdowns while maintaining exposure to equity upside.

HELO is managed by the same team behind JEPI. That means that a great deal of management expertise regarding options strategies backs the fund. 

A Broader ETF Strategy

While JEPI remains the $45 billion anchor of the firm’s lineup, it is far from the only tool at investors’ disposal. As demand continues to broaden, a growing set of strategies underscores JP Morgan’s active capabilities across equities, fixed income, and risk management. 

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