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

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.

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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.

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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.

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