M&A - J.P. Morgan Exchange-Traded Fund Trust

Form Type: 425

Filing Date: 2025-05-12

Corporate Action: Merger

Type: New

Accession Number: 000119312525117322

Filing Summary: On May 8, 2025, the Board of Trustees of JPMorgan Trust I approved the reorganization of the JPMorgan Unconstrained Debt Fund into a newly created exchange-traded fund (ETF), known as JPMorgan Flexible Debt ETF. This transition is deemed beneficial for existing shareholders, ensuring that their interests will not be diluted. The reorganization will involve the liquidation of the Fund, and shareholders will receive ETF shares equal in value to their current holdings, along with cash payments for any fractional shares. The completion of the reorganization is scheduled for September 26, 2025, and it is structured as a tax-free reorganization under the U.S. Internal Revenue Code, meaning shareholders will not typically recognize a taxable event during this transition. Shareholders must ensure their brokerage accounts can accept ETF shares to participate fully in the reorganization. Important deadlines include purchasing or exchanging shares by September 24, 2025, and redeeming shares by September 25, 2025. An information statement/prospectus related to this reorganization will be filed with the SEC and made available afterward to all shareholders.

Form Type: N-14

Filing Date: 2025-05-08

Corporate Action: Merger

Type: New

Accession Number: 000119312525115775

Filing Summary: On May 8, 2025, J.P. Morgan Exchange-Traded Fund Trust filed a Registration Statement under the Securities Act of 1933 related to a proposed merger between JPMorgan National Municipal Income Fund (the Target Fund) and JPMorgan Municipal ETF (the Acquiring Fund). The merger aims to combine the Target Fund into the Acquiring Fund, which is structured as an exchange-traded fund (ETF). The Board of Trustees of the Target Fund has approved the Reorganization, believing it is in the best interest of the shareholders as it would not dilute their holdings. Shareholders will be asked to approve the Agreement and Plan of Reorganization at a special meeting scheduled for July 30, 2025. If approved, shareholders will receive shares of the Acquiring Fund in exchange for their Target Fund shares, with cash payments for fractional shares potentially subject to tax. The filing discusses potential tax-free reorganization under U.S. tax laws, details the meeting logistics, and outlines how shareholders can participate by voting through various methods. It also highlights the benefits of the ETF structure, including lower expenses, increased trading flexibility, and enhanced transparency. The board recommends a 'FOR' vote to the shareholders as it aligns with their investment objectives and strategies.

Form Type: 425

Filing Date: 2025-05-02

Corporate Action: Merger

Type: New

Accession Number: 000119312525110865

Filing Summary: On April 15, 2025, the Boards of Trustees of JPMorgan Trust I and J.P. Morgan Exchange-Traded Fund Trust approved a proposed reorganization involving the JPMorgan National Municipal Income Fund (the 'Target Fund') merging with the JPMorgan Municipal ETF (the 'Acquiring Fund'). A special meeting for shareholders of the Target Fund is scheduled for July 30, 2025, to seek approval for this reorganization. If approved, shareholders will receive ETF shares of the Acquiring Fund corresponding to their investment in the Target Fund, along with cash for fractional shares, which may be taxable. The reorganization is structured as a tax-free event under the U.S. Internal Revenue Code, and aims to provide benefits such as reduced expenses, increased trading flexibility, and enhanced tax efficiency. Shareholders must ensure their brokerage accounts can accept ETF shares to receive shares of the Acquiring Fund; otherwise, their investments will be liquidated, and they will receive cash equivalent to the NAV of their shares. Various options are provided for shareholders uncertain about their accounts while a registration statement on Form N-14 will be filed with the SEC for additional information regarding the reorganization.

Form Type: 497

Filing Date: 2025-04-16

Corporate Action: Merger

Type: Update

Accession Number: 000119312525082193

Filing Summary: On April 15, 2025, the Boards of Trustees of J.P. Morgan Exchange-Traded Fund Trust and JPMorgan Trust I approved a reorganization in which the JPMorgan National Municipal Income Fund (Target Fund) will merge with the JPMorgan Municipal ETF (Acquiring Fund). A special meeting of shareholders of the Target Fund is scheduled for July 30, 2025, to seek their approval for the reorganization. If approved, shareholders will receive ETF shares of the Acquiring Fund that equate to the value of their Target Fund shares, along with a cash payment for any fractional shares. This transaction is intended to provide tax benefits and reduced expenses for investors. Shareholders must hold their Target Fund shares in a brokerage account that allows for ETF trading to receive the new shares; otherwise, their investment will be liquidated for cash equal to the NAV of their Target Fund shares. Additional procedures for transferring shares or redeeming them prior to the reorganization were outlined for those not holding in the correct account type. The reorganization will be tax-free under the U.S. Internal Revenue Code, minimizing taxable gains for shareholders.

Form Type: 497K

Filing Date: 2025-04-16

Corporate Action: Merger

Type: New

Accession Number: 000119312525082207

Filing Summary: On April 15, 2025, the Boards of Trustees of JPMorgan Trust I and J.P. Morgan Exchange-Traded Fund Trust approved a reorganization proposal for the JPMorgan National Municipal Income Fund (Target Fund) to combine with the JPMorgan Municipal ETF (Acquiring Fund). A special meeting for shareholders of the Target Fund is scheduled for July 30, 2025, to seek approval for this reorganization. If approved, shareholders will receive ETF shares of the Acquiring Fund equal to their investment, with potential cash payments for fractional shares. The reorganization aims to be tax-free under the U.S. Internal Revenue Code, minimizing tax implications for shareholders. The reorganization promises benefits such as lower expenses for the Acquiring Fund and enhanced investment efficiency. Shareholders need to hold Target Fund shares in suitable brokerage accounts to receive Acquiring Fund shares; otherwise, their investments may be liquidated. Additional information will be provided in an upcoming registration statement with the SEC.

Form Type: 497

Filing Date: 2025-04-09

Corporate Action: Merger

Type: New

Accession Number: 000119312525076935

Filing Summary: On April 7, 2025, J.P. Morgan Exchange-Traded Fund Trust announced a significant reorganization of its mutual funds into exchange-traded funds (ETFs). The target funds include the JPMorgan International Hedged Equity Fund, JPMorgan Mortgage-Backed Securities Fund, and JPMorgan U.S. Applied Data Science Value Fund, each being reorganized into corresponding Acquiring Funds. This corporate action will be conducted as a tax-free reorganization under U.S. tax law. The reorganization offers several benefits for investors, such as lower expenses, increased trading flexibility, enhanced transparency, and improved tax efficiency. The management strategies of the funds remain largely unchanged, with specific adaptations to align with ETF regulations. At a Board meeting held from February 11-13, 2025, the reorganization plans were approved, ensuring that existing investors' interests will not be diluted. Investors must hold shares of their Target Fund through a brokerage account that can accept ETF shares to benefit from this reorganizational change. If they fail to do so, their investments will be liquidated for cash at NAV, which could incur tax liabilities. Each transaction is expected to solidify the funds' market positions and potentially increase shareholder value post-reorganization, which is set to close on specific forthcoming dates in 2025.

Form Type: N-14/A

Filing Date: 2025-03-28

Corporate Action: Merger

Type: New

Accession Number: 000119312525065845

Filing Summary: J.P. Morgan Exchange-Traded Fund Trust is filing a registration statement to reorganize three Target Funds into newly created exchange-traded funds (ETFs). The Target Funds involved are the JPMorgan International Hedged Equity Fund, JPMorgan Mortgage-Backed Securities Fund, and JPMorgan U.S. Applied Data Science Value Fund, which will be reorganized into the JPMorgan International Hedged Equity Laddered Overlay ETF, JPMorgan Mortgage-Backed Securities ETF, and JPMorgan Fundamental Data Science Large Value ETF, respectively. Each reorganization and subsequent liquidation aims to align the funds with ETF structures offering lower expenses, additional trading flexibility, increased transparency, and enhanced tax efficiency. The registrations indicate that these reorganizations are tax-free under the U.S. Internal Revenue Code and are supported by the Board of Trustees of each Target Fund, ensuring that shareholders’ interests would be preserved with no dilution of their investments. Shareholders must hold their shares in a brokerage account that can accept ETF shares to receive equivalents in the new Acquiring Funds.

Form Type: N-14

Filing Date: 2025-02-25

Corporate Action: Merger

Type: New

Accession Number: 000119312525034698

Filing Summary: J.P. Morgan Exchange-Traded Fund Trust is presenting a registration statement under the Securities Act of 1933 concerning the reorganization of three target funds into newly-created exchange-traded funds (ETFs). The target funds are the JPMorgan International Hedged Equity Fund, the JPMorgan Mortgage-Backed Securities Fund, and the JPMorgan U.S. Applied Data Science Value Fund, which will be reorganized as the JPMorgan International Hedged Equity Laddered Overlay ETF, JPMorgan Mortgage-Backed Securities ETF, and JPMorgan Fundamental Data Science Large Value ETF, respectively. This reorganization has been approved by the Board of Trustees and will be executed as a tax-free reorganization under the U.S. Internal Revenue Code. Shareholders will not need to vote on the reorganization, and those holding through compatible brokerage accounts will receive shares of the corresponding ETFs. It aims to provide lower expenses, greater trading flexibility, increased transparency, and enhanced tax efficiency. Following the reorganization, the target funds will be liquidated, and their shareholders will transition to the ETFs, ensuring that their investments are not diluted during the process and translating to an overall enhancement of shareholder value.