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Morgan Exchange-Traded Fund Trust 2026-04-30 JPMorgan Active China ETF JPMorgan Active China ETF JCHI This semi-annual shareholder report contains important information about the JPMorgan Active China ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan Active China ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>32</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.65<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 32 0.0065 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>15,230,277</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">48</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">40</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 15230277 48 0.40 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - SECTOR<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368125.jpg" style="width: 275pt;"/> </div> JPMorgan ActiveBuilders Emerging Markets Equity ETF JPMorgan ActiveBuilders Emerging Markets Equity ETF JEMA This semi-annual shareholder report contains important information about the JPMorgan ActiveBuilders Emerging Markets Equity ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan ActiveBuilders Emerging Markets Equity ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>18</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.33<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 18 0.0033 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>1,603,629,976</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">525</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">19</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 1603629976 525 0.19 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - COUNTRY<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368118.jpg" style="width: 275pt;"/> </div> JPMorgan Active Developing Markets Equity ETF JPMorgan Active Developing Markets Equity ETF JADE This semi-annual shareholder report contains important information about the JPMorgan Active Developing Markets Equity ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan Active Developing Markets Equity ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>35</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.65<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 35 0.0065 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>29,401,416</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">136</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">18</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 29401416 136 0.18 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - COUNTRY<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368131.jpg" style="width: 275pt;"/> </div> JPMorgan BetaBuilders Canada ETF JPMorgan BetaBuilders Canada ETF BBCA This semi-annual shareholder report contains important information about the JPMorgan BetaBuilders Canada ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan BetaBuilders Canada ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>10</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.19<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 10 0.0019 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>10,710,095,517</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">79</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 10710095517 79 0.04 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - SECTOR<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368122.jpg" style="width: 275pt;"/> </div> JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF BBAX This semi-annual shareholder report contains important information about the JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>10</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.19<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 10 0.0019 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>6,393,109,506</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">99</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">2</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 6393109506 99 0.02 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - COUNTRY<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368123.jpg" style="width: 275pt;"/> </div> JPMorgan BetaBuilders Emerging Markets Equity ETF JPMorgan BetaBuilders Emerging Markets Equity ETF BBEM This semi-annual shareholder report contains important information about the JPMorgan BetaBuilders Emerging Markets Equity ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan BetaBuilders Emerging Markets Equity ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>8</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.15<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 8 0.0015 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>834,567,088</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">1,109</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 834567088 1109 0.08 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - COUNTRY<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368124.jpg" style="width: 275pt;"/> </div> JPMorgan BetaBuilders Europe ETF JPMorgan BetaBuilders Europe ETF BBEU This semi-annual shareholder report contains important information about the JPMorgan BetaBuilders Europe ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan BetaBuilders Europe ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>5</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.09<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 5 0.0009 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>8,976,120,500</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">370</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">2</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 8976120500 370 0.02 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - COUNTRY<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368108.jpg" style="width: 275pt;"/> </div> JPMorgan BetaBuilders International Equity ETF JPMorgan BetaBuilders International Equity ETF BBIN This semi-annual shareholder report contains important information about the JPMorgan BetaBuilders International Equity ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan BetaBuilders International Equity ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>4</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.07<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 4 0.0007 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>6,330,986,910</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">654</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">2</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 6330986910 654 0.02 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - COUNTRY<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368129.jpg" style="width: 275pt;"/> </div> JPMorgan BetaBuilders Japan ETF JPMorgan BetaBuilders Japan ETF BBJP This semi-annual shareholder report contains important information about the JPMorgan BetaBuilders Japan ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan BetaBuilders Japan ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>10</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.19<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 10 0.0019 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>16,591,940,653</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">181</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 16591940653 181 0.01 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - SECTOR<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368112.jpg" style="width: 275pt;"/> </div> JPMorgan BetaBuilders U.S. Equity ETF JPMorgan BetaBuilders U.S. Equity ETF BBUS This semi-annual shareholder report contains important information about the JPMorgan BetaBuilders U.S. Equity ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan BetaBuilders U.S. Equity ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.02<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 1 0.0002 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>7,850,160,104</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">497</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 7850160104 497 0.01 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - SECTOR<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368106.jpg" style="width: 275pt;"/> </div> JPMorgan BetaBuilders U.S. Mid Cap Equity ETF JPMorgan BetaBuilders U.S. Mid Cap Equity ETF BBMC This semi-annual shareholder report contains important information about the JPMorgan BetaBuilders U.S. Mid Cap Equity ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan BetaBuilders U.S. Mid Cap Equity ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>4</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.07<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 4 0.0007 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>2,030,093,979</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">559</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">16</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 2030093979 559 0.16 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - SECTOR<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368128.jpg" style="width: 275pt;"/> </div> JPMorgan BetaBuilders U.S. Small Cap Equity ETF JPMorgan BetaBuilders U.S. Small Cap Equity ETF BBSC This semi-annual shareholder report contains important information about the JPMorgan BetaBuilders U.S. Small Cap Equity ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan BetaBuilders U.S. Small Cap Equity ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>5</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.09<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 5 0.0009 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>731,919,149</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">736</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">14</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 731919149 736 0.14 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - SECTOR<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368127.jpg" style="width: 275pt;"/> </div> JPMorgan Diversified Return Emerging Markets Equity ETF JPMorgan Diversified Return Emerging Markets Equity ETF JPEM This semi-annual shareholder report contains important information about the JPMorgan Diversified Return Emerging Markets Equity ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan Diversified Return Emerging Markets Equity ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>23</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.44<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 23 0.0044 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>389,935,548</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">544</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">15</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 389935548 544 0.15 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - COUNTRY<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368121.jpg" style="width: 275pt;"/> </div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: top; width: 6%; font-size: 8pt; padding: 6pt 0 3pt 0;">(a)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; font-size: 9pt; vertical-align: top; padding: 6pt 0 3pt 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 8pt; margin: 0px;">Amount rounds to less than 0.1%.</div> </td> </tr> </table> JPMorgan Diversified Return International Equity ETF JPMorgan Diversified Return International Equity ETF JPIN This semi-annual shareholder report contains important information about the JPMorgan Diversified Return International Equity ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan Diversified Return International Equity ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>19</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.37<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 19 0.0037 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>362,694,665</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">456</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">13</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 362694665 456 0.13 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - COUNTRY<br/>(% of Total Investments)</div><div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368120.jpg" style="width: 275pt;"/> </div> JPMorgan Diversified Return U.S. Equity ETF JPMorgan Diversified Return U.S. Equity ETF JPUS This semi-annual shareholder report contains important information about the JPMorgan Diversified Return U.S. Equity ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan Diversified Return U.S. Equity ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>10</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.18<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 10 0.0018 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>442,362,477</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">375</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">12</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 442362477 375 0.12 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - SECTOR<br/>(% of Total Investments)</div><div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368107.jpg" style="width: 275pt;"/> </div> JPMorgan Diversified Return U.S. Mid Cap Equity ETF JPMorgan Diversified Return U.S. Mid Cap Equity ETF JPME This semi-annual shareholder report contains important information about the JPMorgan Diversified Return U.S. Mid Cap Equity ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan Diversified Return U.S. Mid Cap Equity ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>13</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.24<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 13 0.0024 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>439,983,140</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">355</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">12</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 439983140 355 0.12 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - SECTOR<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368115.jpg" style="width: 275pt;"/> </div> JPMorgan Diversified Return U.S. Small Cap Equity ETF JPMorgan Diversified Return U.S. Small Cap Equity ETF JPSE This semi-annual shareholder report contains important information about the JPMorgan Diversified Return U.S. Small Cap Equity ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan Diversified Return U.S. Small Cap Equity ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>16</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.29<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 16 0.0029 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>586,928,796</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">555</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">14</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 586928796 555 0.14 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - SECTOR<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368113.jpg" style="width: 275pt;"/> </div> JPMorgan Dividend Leaders ETF JPMorgan Dividend Leaders ETF JDIV This semi-annual shareholder report contains important information about the JPMorgan Dividend Leaders ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan Dividend Leaders ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>24</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.47<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 24 0.0047 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>11,221,870</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">80</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">37</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 11221870 80 0.37 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - COUNTRY<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368130.jpg" style="width: 275pt;"/> </div> JPMorgan Equity and Options Total Return ETF JPMorgan Equity and Options Total Return ETF JOYT This semi-annual shareholder report contains important information about the JPMorgan Equity and Options Total Return ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan Equity and Options Total Return ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>18</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.35<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 18 0.0035 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>86,070,779</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">116</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 86070779 116 0.04 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - SECTOR<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368146.jpg" style="width: 275pt;"/> </div> JPMorgan Flexible Income ETF JPMorgan Flexible Income ETF JFLI This semi-annual shareholder report contains important information about the JPMorgan Flexible Income ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan Flexible Income ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>12</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.23<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 12 0.0023 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>44,873,326</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">585</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">42</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 44873326 585 0.42 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - COUNTRY<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368141.jpg" style="width: 275pt;"/> </div> JPMorgan Global Select Equity ETF JPMorgan Global Select Equity ETF JGLO This semi-annual shareholder report contains important information about the JPMorgan Global Select Equity ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383,<span style="white-space: nowrap;"> </span>by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan Global Select Equity ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>24</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.47<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 24 0.0047 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>7,111,177,322</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">76</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">57</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 7111177322 76 0.57 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - COUNTRY<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368135.jpg" style="width: 275pt;"/> </div> JPMorgan Healthcare Leaders ETF JPMorgan Healthcare Leaders ETF JDOC This semi-annual shareholder report contains important information about the JPMorgan Healthcare Leaders ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan Healthcare Leaders ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>33</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.65<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 33 0.0065 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>11,124,653</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">61</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">41</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 11124653 61 0.41 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - COUNTRY<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368132.jpg" style="width: 275pt;"/> </div> JPMorgan Hedged Equity Laddered Overlay ETF JPMorgan Hedged Equity Laddered Overlay ETF HELO This semi-annual shareholder report contains important information about the JPMorgan Hedged Equity Laddered Overlay ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan Hedged Equity Laddered Overlay ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>25</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.50<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 25 0.0050 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>4,017,047,275</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">167</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">13</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 4017047275 167 0.13 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - SECTOR<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368133.jpg" style="width: 275pt;"/> </div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: top; width: 6%; font-size: 8pt; padding: 6pt 0 3pt 0;">(a)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; font-size: 9pt; vertical-align: top; padding: 6pt 0 3pt 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 8pt; margin: 0px;">Put Options Purchased</div> </td> </tr> </table> JPMorgan International Dynamic ETF JPMorgan International Dynamic ETF JIDE This semi-annual shareholder report contains important information about the JPMorgan International Dynamic ETF (the "Fund") for the period of January 27, 2026 (fund inception) to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan International Dynamic ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>14</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.55<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 14 0.0055 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>11,806,121</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">95</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">26</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 11806121 95 0.26 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - COUNTRY<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5386154.jpg" style="width: 275pt;"/> </div> JPMorgan International Growth ETF JPMorgan International Growth ETF JIG This semi-annual shareholder report contains important information about the JPMorgan International Growth ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan International Growth ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>28</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.55<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 28 0.0055 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>428,587,931</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">92</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">37</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 428587931 92 0.37 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - COUNTRY<br/>(% of Total Investments)</div><div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368119.jpg" style="width: 275pt;"/> </div> JPMorgan International Hedged Equity Laddered Overlay ETF JPMorgan International Hedged Equity Laddered Overlay ETF HOLA This semi-annual shareholder report contains important information about the JPMorgan International Hedged Equity Laddered Overlay ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan International Hedged Equity Laddered Overlay ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>23</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.45<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 23 0.0045 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>280,611,253</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">215</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">12</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 280611253 215 0.12 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - COUNTRY<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368139.jpg" style="width: 275pt;"/> </div> JPMorgan International Research Enhanced Equity ETF JPMorgan International Research Enhanced Equity ETF JIRE This semi-annual shareholder report contains important information about the JPMorgan International Research Enhanced Equity ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan International Research Enhanced Equity ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>12</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.24<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 12 0.0024 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>10,585,146,585</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">207</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">11</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 10585146585 207 0.11 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - COUNTRY<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368126.jpg" style="width: 275pt;"/> </div> JPMorgan International Value ETF JPMorgan International Value ETF JIVE This semi-annual shareholder report contains important information about the JPMorgan International Value ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan International Value ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>30</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.54<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 30 0.0054 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>2,487,659,171</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">352</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">31</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 2487659171 352 0.31 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - COUNTRY<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368134.jpg" style="width: 275pt;"/> </div> JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF HEQQ This semi-annual shareholder report contains important information about the JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>25</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.50<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 25 0.0050 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>31,639,641</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">105</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 31639641 105 0.09 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - SECTOR<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368140.jpg" style="width: 275pt;"/> </div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: top; width: 6%; font-size: 8pt; padding: 6pt 0 3pt 0;">(a)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; font-size: 9pt; vertical-align: top; padding: 6pt 0 3pt 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 8pt; margin: 0px;">Put Options Purchased</div> </td> </tr> </table> JPMorgan U.S. Momentum Factor ETF JPMorgan U.S. Momentum Factor ETF JMOM This semi-annual shareholder report contains important information about the JPMorgan U.S. Momentum Factor ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan U.S. Momentum Factor ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>6</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.12<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 6 0.0012 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>2,183,888,059</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">278</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">19</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 2183888059 278 0.19 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - SECTOR<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368117.jpg" style="width: 275pt;"/> </div> JPMorgan U.S. Quality Factor ETF JPMorgan U.S. Quality Factor ETF JQUA This semi-annual shareholder report contains important information about the JPMorgan U.S. Quality Factor ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan U.S. Quality Factor ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>6</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.12<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 6 0.0012 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>7,465,905,348</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">293</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 7465905348 293 0.09 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - SECTOR<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368116.jpg" style="width: 275pt;"/> </div> JPMorgan U.S. Value Factor ETF JPMorgan U.S. Value Factor ETF JVAL This semi-annual shareholder report contains important information about the JPMorgan U.S. Value Factor ETF (the "Fund") for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at www.jpmorganfunds.com/funddocuments. You can also request this information by contacting us at 1-844-457-6383, by sending an e-mail request to jpm.xf@jpmorgan.com or by asking any financial intermediary that offers shares of the Fund. www.jpmorganfunds.com/funddocuments 1-844-457-6383 jpm.xf@jpmorgan.com <div style="font-family: 'arial'; color: rgb(0, 0, 0); font-size: 11.52pt; font-weight: bold; margin: 0px 0px 3pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: left; padding: 6pt 0 3pt 0;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs of a<br/>$10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 0 3pt 0;">Costs paid as a percentage<br/>of a $10,000 investment*</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 0 3pt 0;">JPMorgan U.S. Value Factor ETF<br/></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>6</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; text-align: center; vertical-align: bottom; padding: 6pt 0 3pt 0;">0.12<span>%</span></td> </tr> </table> <table style="border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(245, 247, 248); background-image: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: left; width: 2%; padding: 4pt 0 0 0;">*</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; color: rgb(0, 0, 0); font-style: italic; margin-bottom: 0; font-family: 'Arial'; font-size: 9pt; vertical-align: top; text-align: center; padding: 4pt 0 0 0;"> <div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; font-style: normal; padding: 0px; margin: 0px;">This charge is annualized.</div> </td> </tr> </table> 6 0.0012 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 0px 0px;"><br/>KEY FUND STATISTICS</div> <table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;"><span style="float: none;">$</span>732,958,626</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">388</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: auto; text-align: left; font-weight: bold; padding: 6pt 0 3pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; width: auto; padding: 6pt 0 3pt 0;">10</td> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; white-space: nowrap; font-weight: normal; text-align: left; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> 732958626 388 0.10 <div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: 1.25px; font-size: 9pt; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 3pt 0px 5pt 0px;">PORTFOLIO COMPOSITION - SECTOR<br/>(% of Total Investments)</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g162649chartimages_5368114.jpg" style="width: 275pt;"/> </div> This charge is annualized. 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