ETF Evaluator:
JPMorgan Mortgage-Backed Securities ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Securitized Bond - Diversified Over the Last Year
| 6.5% | Obra Opportunistic Structured Prdcts ETF (OOSP) |
| 5.6% | iShares Securitized Income Active ETF (SECU) |
| 5.2% | Obra High Grade Structured Products ETF (OGSP) |
| 5.0% | Touchstone Securitized Income ETF (TSEC) |
| 4.8% | Eaton Vance Mortgage Opportunities ETF (EVMO) |
Risk
Index
Risk
Index
ETF Details
JPMorgan Mortgage-Backed Securities ETF Overview
JPMorgan Mortgage-Backed Securities ETF (JMTG) is an actively managed Taxable Bond Securitized Bond - Diversified exchange-traded fund (ETF). JPMorgan launched the ETF in 2000.
The investment seeks to maximize total return by investing primarily in a diversified portfolio of debt securities backed by pools of residential and/or commercial mortgages.
The fund invests mainly in investment grade mortgage-backed securities or unrated mortgage-backed securities which the adviser determines to be of comparable quality. Under normal circumstances, it invests at least 80% of its assets in mortgage-backed securities. "Assets" means net assets plus the amount of borrowings for investment purposes. The fund's average weighted maturity will normally range between two and ten years.
About JPMorgan Mortgage-Backed Securities ETF (JMTG)
There are 3 members of the management team with an average tenure of 6.66 years: Richard Figuly (2015), Andrew Melchiorre (2019) and Sajjad Hussain (2024). 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 Bloomberg US MBS TR USD index with a weighting of 100%. JPMorgan Mortgage-Backed Securities ETF has 2589 securities in its portfolio. The top 10 holdings constitute 8.9% 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 Mortgage-Backed Securities ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. JPMorgan Mortgage-Backed Securities ETF has 1.1% 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 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 95.2% (94.2% domestic bond, 1.1% foreign bond and 0.0% convertible bond). JPMorgan Mortgage-Backed Securities ETF has 4.8% of the portfolio in cash.
Assets Under Management
The fund has $6 billion in total assets, which is above the $912 million average for the Securitized Bond - Diversified 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.
JMTG 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 Mortgage-Backed Securities ETF expense ratio is below average compared to funds in the Securitized Bond - Diversified category. JPMorgan Mortgage-Backed Securities ETF has an expense ratio of 0.24%, which is 42% 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 Mortgage-Backed Securities ETF has a portfolio turnover rate of 46%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 154% for the Securitized Bond - Diversified category.
Recently, in the month of July 2026, JPMorgan Mortgage-Backed Securities ETF returned -1.0%, which earned it a grade of D, as the Securitized Bond - Diversified 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 Mortgage-Backed Securities ETF has a trailing yield of 4.34%, which is below the 5.35% category average.
The fund normally distributes its income monthly and its capital gains annually.
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 Mortgage-Backed Securities ETF Grades
Year to date, the ETF has returned 0.2%, 0.9 percentage points worse than the category, which translates into a grade of D. The fund has returned 4.2% over the past year (grade of D), 4.9% over the past three years (grade of D) and 1.0% per year over the past five years (grade of C) and 2.1% per year over the past 10 years (grade of F).
For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about JPMorgan Mortgage-Backed Securities ETF, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
JMTG 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 |
|
| JMTG Return (NAV) | -1.0% | -0.6% | 4.2% | 4.9% | 1.0% | 2.1% |
| JMTG Return (Price) | -1.0% | -0.7% | 4.5% | 5.0% | 1.0% | 2.1% |
| NAV +/- Price Return | -0.037% | 0.085% | -0.236% | -0.033% | -0.019% | -0.010% |
| Securitized Bond - Diversified Avg | -0.4% | 0.2% | 4.5% | 5.8% | 1.6% | 2.7% |
| JMTG Grade (NAV) | D | D | D | D | C | F |
| +/- Category (NAV) | -0.6% | -0.8% | -0.3% | -0.9% | -0.6% | -0.6% |
| JMTG Tax-Cost Ratio | na | na | 1.7% | 1.6% | 1.3% | 1.3% |
JMTG Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| JMTG Return (NAV) | 0.2% | 8.3% | 2.7% | 5.9% | -10.3% | -0.4% | 5.6% | 6.6% | 1.8% | 3.2% | 2.1% |
| JMTG Return (Price) | 0.0% | 8.6% | 2.7% | 5.9% | -10.3% | -0.4% | 5.6% | 6.6% | 1.8% | 3.2% | 2.1% |
| NAV +/- Price Ret | -0.909% | 0.037% | 0.000% | 0.000% | 0.000% | 0.000% | 0.000% | 0.0% | 0.0% | 0.0% | 0.0% |
| Securitized Bond - Diversified Avg | 1.1% | 7.6% | 5.1% | 6.6% | -10.6% | 1.3% | 2.9% | 5.9% | 1.6% | 3.7% | 3.0% |
| JMTG Grade (NAV) | D | B | D | D | B | F | B | D | D | B | D |
| +/- Category | -0.9% | 0.6% | -2.4% | -0.7% | 0.3% | -1.7% | 2.7% | 0.7% | 0.2% | -0.5% | -0.9% |
| Risk Measures | |
| Beta: | 0.98 |
| R-Squared: | 99% |
| Standard Deviation: | 5.5% |
| Category Risk Index: | 1.21 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 0.45 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 4.3% |
| Total Assets: | $ 6,785 Mil |
| Share Class Assets: | $ 6,785 Mil |
| Turnover: | 46.0% |
| Expense Ratio: | 0.24% |
| Index Fund: | No |
| Index Tracked: | Bloomberg US Agg Bond TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 10.9 years | |||
| Average Tenure: 6.7 years | |||
| Managers (Year): Figuly Richard (2015), Melchiorre Andrew (2019), Hussain Sajjad (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 2589 |
| % in Top 10 Holdings: | 8.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 1.1% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 94.2% |
| Foreign Bond: | 1.1% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 4.8% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | JPMorgan |
| Phone Number: | 844-457-6383 |
| Website: | jpmorganfunds.com |
| Inception Date: | August 18, 2000 |
Expenses and Fees
| Expense Ratio (%): | 0.24% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.41% |
