ETF Evaluator:
JPMorgan Flexible Debt ETF ()
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(as of Aug 26)
Best Performing in Nontraditional Bond Over the Last Year
| 7.1% | Simplify Kayne Anderson Ey&InfrasCrdtETF (KNRG) |
| 6.8% | WisdomTree Interest Rt Hdg Hi Yld Bd ETF (HYZD) |
| 6.3% | ProShares High Yield—Interest Rate Hdgd (HYHG) |
| 6.0% | FolioBeyond Alt Inc and Int Rt Hdg ETF (RISR) |
| 5.6% | NEOS Enhanced Income Credit Select ETF (HYBI) |
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ETF Details
JPMorgan Flexible Debt ETF Overview
JPMorgan Flexible Debt ETF (JFLX) is an actively managed Taxable Bond Nontraditional Bond exchange-traded fund (ETF). JPMorgan launched the ETF in 2010.
The investment seeks to provide long-term total return.
Under normal circumstances, the fund invests at least 80% of its assets in debt investments. Debt investments include loan assignments and participations (Loans), commitments to purchase Loans, convertible securities, bonds, and all other types of debt securities and debt instruments. Debt investments also include money market investment companies. "Assets" means net assets plus the amount of borrowings for investment purposes.
About JPMorgan Flexible Debt ETF (JFLX)
There are 5 members of the management team with an average tenure of 8.97 years: Iain Stealey (2010), Andreas Michalitsianos (2025), Andrew Headley (2020), Jeff Hutz (2020) and Bob Michele (2010). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and ICE BofA US 3M Trsy Bill TR USD index with a weighting of 100%. JPMorgan Flexible Debt ETF has 1613 securities in its portfolio. The top 10 holdings constitute 24.6% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
JPMorgan Flexible Debt ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. JPMorgan Flexible Debt ETF has 23.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.6% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 81.1% (58.0% domestic bond, 23.0% foreign bond and 3.3% convertible bond). JPMorgan Flexible Debt ETF has 15.0% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is above the $320 million average for the Nontraditional Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
JFLX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The JPMorgan Flexible Debt ETF expense ratio is average compared to funds in the Nontraditional Bond category. JPMorgan Flexible Debt ETF has an expense ratio of 0.45%, which is 66% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. JPMorgan Flexible Debt ETF has a portfolio turnover rate of 144%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 190% for the Nontraditional Bond category.
Recently, in the month of July 2026, JPMorgan Flexible Debt ETF returned -0.6%, which earned it a grade of D, as the Nontraditional Bond category had an average return of -0.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
JPMorgan Flexible Debt ETF has a trailing yield of 4.44%, which is below the 6.67% category average.
The fund normally distributes its income monthly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
JPMorgan Flexible Debt ETF Grades
Year to date, the ETF has returned 1.7%, 1.7 percentage points better than the category, which translates into a grade of C. The fund has returned 5.0% over the past year (grade of B), 6.0% over the past three years (grade of B) and 3.7% per year over the past five years (grade of C) and 3.6% per year over the past 10 years (grade of D).
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JFLX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| JFLX Return (NAV) | -0.6% | 0.7% | 5.0% | 6.0% | 3.7% | 3.6% |
| JFLX Return (Price) | -0.6% | 0.8% | 5.4% | 6.1% | 3.7% | 3.6% |
| NAV +/- Price Return | -0.058% | -0.102% | -0.390% | -0.131% | -0.077% | -0.038% |
| Nontraditional Bond Avg | -0.4% | -0.6% | 2.7% | 5.4% | 3.4% | 4.3% |
| JFLX Grade (NAV) | D | C | B | B | C | D |
| +/- Category (NAV) | -0.3% | 1.3% | 2.4% | 0.6% | 0.2% | -0.7% |
| JFLX Tax-Cost Ratio | na | na | 1.8% | 1.8% | 1.6% | 1.5% |
JFLX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| JFLX Return (NAV) | 1.7% | 7.3% | 5.1% | 7.2% | -2.8% | 0.8% | 6.6% | 7.3% | -1.9% | 4.6% | 5.2% |
| JFLX Return (Price) | 1.8% | 7.7% | 5.1% | 7.2% | -2.8% | 0.8% | 6.6% | 7.3% | -1.9% | 4.6% | 5.2% |
| NAV +/- Price Ret | 0.042% | 0.044% | 0.000% | 0.000% | 0.000% | 0.000% | 0.000% | 0.0% | 0.0% | 0.0% | 0.0% |
| Nontraditional Bond Avg | 0.1% | 4.6% | 8.2% | 9.5% | -3.9% | 6.2% | 0.9% | 7.2% | -0.7% | 4.0% | 7.7% |
| JFLX Grade (NAV) | C | A | D | D | C | F | A | C | D | C | D |
| +/- Category | 1.7% | 2.7% | -3.1% | -2.3% | 1.1% | -5.5% | 5.7% | 0.1% | -1.1% | 0.6% | -2.5% |
| Risk Measures | |
| Beta: | 0.56 |
| R-Squared: | 85% |
| Standard Deviation: | 3.4% |
| Category Risk Index: | 0.63 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 0.28 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 4.4% |
| Total Assets: | $ 1,435 Mil |
| Share Class Assets: | $ 1,435 Mil |
| Turnover: | 144.0% |
| Expense Ratio: | 0.45% |
| Index Fund: | No |
| Index Tracked: | Bloomberg US Agg Bond TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 15.7 years | |||
| Average Tenure: 9.0 years | |||
| Managers (Year): Stealey Iain (2010), Michele Bob (2010), Headley Andrew (2020), Hutz Jeff (2020), Michalitsianos Andreas (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 1613 |
| % in Top 10 Holdings: | 24.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 23.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.6% |
| Domestic Bond: | 58.0% |
| Foreign Bond: | 23.0% |
| Convertible Bond: | 3.3% |
| Other: | 0.0% |
| Cash: | 15.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | JPMorgan |
| Phone Number: | 844-457-6383 |
| Website: | jpmorganfunds.com |
| Inception Date: | December 1, 2010 |
Expenses and Fees
| Expense Ratio (%): | 0.45% (Rating: Avg) |
| Category Average Expense Ratio (%): | 1.34% |
