JPMorgan Active High Yield ETF (JPHY) provides access to a leading active high yield strategy

J.P. Morgan Asset Management announced the launch of the JPMorgan Active High Yield ETF (JPHY), on the Cboe BZX Exchange. The fund is anchored by a $2 billion investment from a large institutional external client.

“We’re excited to launch JPHY at this scale, marking the largest active ETF launch¹ and extending our position as the leading provider of active fixed income,” said George Gatch, CEO of J.P. Morgan Asset Management. “This is just the beginning of a trend that should see active fixed ETF AUM quadruple in the next five years². As the largest U.S. active fixed income ETF manager³, we will continue to expand our ETF lineup to fully reflect the depth of our fixed income platform.”

By strategically investing in high-yield debt securities, JPHY has a commitment to allocate at least 80 percent of its assets to bonds and other debt securities rated below investment grade and aims to deliver a high level of current income. JPHY is benchmarked against the ICE BofA US High Yield Constrained Index and is priced competitively at 45 basis points.An expert approach to security selection is crucial in the high-yield market, where the asymmetrical return profiles of securities demands exceptional judgment and risk management. J.P. Morgan’s team of seasoned portfolio managers brings decades of expertise, stability and proven track records, including Robert Cook, Thomas Hauser, Jeffrey Lovell, John Lux, and Edward Gibbons.

“JPHY reinforces our commitment to deliver incremental return opportunities in fixed income, a market segment that has been dominated by passive strategies,” said Robert Michele, Global Head of Fixed Income for J.P. Morgan Asset Management. “The large anchor investment in JPHY signifies high conviction in our strategy and seasoned portfolio management team and we look forward to putting our active management skills to work.”

Future investors in JPHY can benefit from the scale provided by a fund launching with assets of $2 billion. The portfolio management team seeks to be fully invested at, or shortly after, launch and the ETF is expected to be at a size where investors will have greater ability to limit the size of their investment relative to the size of the fund. The initial scale could help attract new investors more quickly, which could result in improved liquidity and lower trading costs.

J.P. Morgan Asset Management is the largest U.S. active fixed income ETF provider, with $55 billion in AUM.  The firm is also leading the industry in U.S. active fixed income flows in 2025, attracting approximately $10 billion in flows YTD. ³

Source: J.P. Morgan Asset Management