Symbols

BBRE

JPMorgan BetaBuilders MSCI U.S. REIT ETF·CBOE

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Key Stats

Assets Under Management

1.13BUSD

Fund Flows (1Y)

117.78MUSD

Dividend Yield

2.93%

Discount/Premium to NAV

-0.01%

Shares Outstanding

11.05M

Expense Ratio

0.11%

About JPMorgan BetaBuilders MSCI U.S. REIT ETF

Issuer

J.P. Morgan Investment Management Inc.

Brand

JPMorgan

Home Page

https://am.jpmorgan.com/us/en/asset-management/adv/products/jpmorgan-betabuilders-msci-us-reit-etf-etf-shares-46641q738

Inception Date

Jun 15, 2018

Structure

Open-Ended Fund

Index Tracked

MSCI US REIT Custom Capped Index

Management Style

Passive

Dividend Treatment

Distributes

Distribution Tax Treatment

Ordinary income

Income Tax Type

Capital Gains

Max ST Capital Gains Rate

39.60%

Max LT Capital Gains Rate

20.00%

Primary Advisor

JPMorgan Investment Management, Inc.

Distributor

JPMorgan Distribution Services, Inc.

BBRE launched tracking an index that was formerly tracked by a popular real estate ETF from Vanguard, VNQ. In early 2018, Vanguard began transitioning their product to a broader index. BBRE offered investors with an option to maintain the previous REIT-only exposure. The fund did a good job of capturing the US REIT market, albeit as an uncapped version of its present index, the fund placed greater emphasis on commercial REITs then our chosen benchmark. To meet diversification requirements, on November 30, 2020, the fund switched to tracking a capped version, such that the aggregate weight of issuers with over 4.75% weight in the index are capped at 24% weight of the portfolio. Like all real estate ETFs, BBRE's distributions are taxed as ordinary income.